Financial Performance - The company reported a revenue of RMB 500 million for the first half of 2019, representing a year-on-year increase of 15%[22]. - Total revenue for the reporting period was ¥210,687,693.93, a decrease of 15.22% compared to ¥248,503,050.63 in the same period last year[30]. - Net profit attributable to shareholders was ¥4,420,588.72, down 82.64% from ¥25,458,565.70 year-on-year[30]. - Net profit after deducting non-recurring gains and losses was ¥1,963,967.86, a decline of 90.59% from ¥20,877,377.05 in the previous year[30]. - Basic earnings per share decreased to ¥0.0323, down 82.63% from ¥0.1860 year-on-year[30]. - The company's operating revenue for the reporting period was CNY 210,687,693.93, a decrease of 15.22% compared to the previous period[74]. - Operating costs amounted to CNY 112,880,378.49, reflecting a decrease of 14.52% year-over-year[74]. - The company reported a net increase in cash and cash equivalents of CNY -36,892,465.71, which is a 64.71% improvement compared to the previous period[74]. - Investment income contributed CNY 4,256,804.72, accounting for 104.88% of total profit, primarily from financial product interest[77]. Research and Development - The company plans to invest RMB 100 million in R&D for new energy conversion equipment in the upcoming year[22]. - R&D expenses amounted to ¥26,421,600, representing 12.54% of total revenue[69]. - Research and development expenses increased by 15.97% to CNY 26,421,577.30, indicating a focus on innovation[74]. - The company has implemented a structured decision-making process for new product development, including four major review stages[46]. - The company plans to enhance R&D efforts to maintain technological leadership and mitigate risks associated with declining gross margins due to increasing market competition[121]. Market Expansion - The company is expanding its market presence in Southeast Asia, with plans to enter three new countries by the end of 2019[22]. - The company has signed a product sales contract worth $7.2 million with Energyport for a U.S. utility project, expanding its presence in the U.S. market[55]. - The energy quality governance market in China is expected to grow at a compound annual growth rate of over 15% from 2019 to 2023, driven by the increasing demand for power quality solutions[48]. - The company is focusing on expanding its overseas market presence and enhancing product applications[58]. Product Development - The company has launched a new product line focused on electric vehicle charging stations, aiming to capture a share of the growing EV market[22]. - Major products include power quality products for high-end manufacturing, battery formation and testing equipment, and energy conversion devices for renewable energy[42]. - The company has developed a new constant power charging module that achieves full power output above 330V, improving charging speed by over 20% compared to similar products[51]. - The company has delivered over 150MW of energy storage products, showcasing its advanced energy storage system integration capabilities[55]. - The company’s energy quality products have been successfully used in major projects such as subways, hospitals, and industrial enterprises, demonstrating its leading position in the low-voltage energy quality sector[48]. Financial Health - Total assets at the end of the reporting period were ¥884,927,505.80, a slight decrease of 0.32% from ¥887,764,782.69 at the end of the previous year[30]. - The company's net assets attributable to shareholders were ¥602,482,063.52, down 1.20% from ¥609,794,641.82 at the end of the previous year[30]. - The company’s intangible assets increased by 105.48% due to land acquisition and software development[59]. - The company’s receivables decreased by 78.74%, primarily due to the endorsement transfer of bank acceptance bills to suppliers[59]. - The company’s prepayments increased by 106.37%, mainly due to the rise in raw material purchases and management software[59]. - Accounts receivable at the end of the reporting period amounted to 254.39 million RMB, representing 28.75% of total assets, indicating potential collection risks[121]. Risks and Challenges - The company is facing risks related to macroeconomic conditions and accounts receivable, which may impact future performance[22]. - The comprehensive gross margin remained high, but the company faces risks of margin decline if it fails to innovate and optimize costs[121]. - The company emphasizes the importance of adapting to macroeconomic changes and industry risks that could impact profitability[121]. - The company has ongoing litigation to recover accounts receivable, with amounts involved being 2.07 million RMB and 5.18 million RMB, both resulting in favorable judgments[133]. Shareholder Information - The company reported a total of 136,850,329 shares, with 51.42% being restricted shares prior to the report period[162]. - The company lifted restrictions on 3,939,540 shares, accounting for 2.88% of the total share capital, during the report period[162]. - The total number of ordinary shareholders at the end of the reporting period is 12,803[171]. - The top 10 shareholders hold a total of 70,369,399 shares, with a decrease of 3,939,540 shares during the period[166]. - The largest shareholder, Fangxing, holds 19.03% of the shares, totaling 26,046,075 shares[171]. Corporate Governance - The company has not encountered any major changes in project feasibility or issues with the use of raised funds during the reporting period[93]. - The company has not faced any significant legal disputes or regulatory penalties during the reporting period[136]. - The company has no significant related party transactions during the reporting period[139]. - The company has not engaged in any asset or equity acquisitions or sales during the reporting period[140]. - The company has not implemented any employee stock ownership plans or incentive measures during the reporting period[144].

Financial Performance - Total revenue for Q1 2019 was ¥96,251,429.62, a decrease of 14.36% compared to ¥112,388,167.29 in the same period last year[8] - Net profit attributable to shareholders was ¥2,291,858.00, down 81.66% from ¥12,496,923.96 year-on-year[8] - Basic and diluted earnings per share were both ¥0.0167, reflecting an 81.71% decrease from ¥0.0913 in the same period last year[8] - The total profit for Q1 2019 was CNY 1,724,896.83, down 87.83% year-on-year[23] - The company's total profit amounted to ¥1,724,896.83, down from ¥14,176,672.89, a decrease of about 87.9% year-over-year[87] - Total comprehensive income amounted to CNY 3,502,955.89, a decrease from CNY 12,498,590.96 in the previous period[97] Cash Flow - Net cash flow from operating activities was -¥10,579,783.60, an improvement of 38.32% compared to -¥17,152,487.84 in the previous year[8] - Cash inflows from operating activities totaled CNY 108,854,978.54, compared to CNY 86,106,148.80 in the prior period, representing a 26.4% increase[101] - Cash outflows from operating activities were CNY 119,434,762.14, up from CNY 103,258,636.64, resulting in a net cash flow from operating activities of CNY -10,579,783.60, an improvement from CNY -17,152,487.84[101] - Cash inflows from investment activities were CNY 42,842,607.48, down from CNY 81,092,783.56, while cash outflows were CNY 53,777,704.50, compared to CNY 51,900,117.49, leading to a net cash flow from investment activities of CNY -10,935,097.02[107] - Cash inflows from financing activities were CNY 20,000,000.00, with cash outflows of CNY 5,653,017.63, resulting in a net cash flow from financing activities of CNY 14,346,982.37[107] - The ending balance of cash and cash equivalents was CNY 139,518,401.84, down from CNY 166,520,490.58 in the previous period[107] Assets and Liabilities - Total assets at the end of the reporting period were ¥882,598,691.91, a slight decrease of 0.58% from ¥887,764,782.69 at the end of the previous year[8] - Total liabilities decreased from 277,970,140.87 to 269,537,676.43, a reduction of approximately 3.1%[70] - Current liabilities totaled 268,185,242.11, down from 276,239,610.81, reflecting a decrease of about 2.3%[70] - Non-current liabilities decreased from 1,730,530.06 to 1,352,434.32, a decline of approximately 21.8%[70] - The company's non-current assets totaled CNY 108,882,393.85, up from CNY 64,151,217.97, marking an increase of approximately 69.56%[67] Investments and Expenses - The company received government subsidies amounting to ¥4,464,095.74 during the reporting period[8] - Management expenses rose by 41.66% to CNY 8,845,343.95, driven by increased labor costs and office rent[19] - Financial expenses increased by 164.75% to CNY 1,209,651.64, primarily due to higher interest expenses[19] - Research and development expenses rose to ¥14,645,540.04 from ¥11,700,080.31, an increase of about 25.5% year-over-year[84] - The company reported an asset impairment loss of ¥7,221,109.17, compared to ¥2,604,591.95 in the previous period, indicating a significant increase in impairment[84] Shareholder Information - The top shareholder, Fang Xing, holds 19.03% of the shares, with a total of 26,046,075 shares pledged[12] - The company did not engage in any repurchase agreements during the reporting period[16] Future Plans and Strategies - The company plans to participate in a joint bidding for land use rights in Nanshan District, with a budget of up to CNY 200 million[26] - The company plans to unify investment projects in self-owned properties to enhance operational efficiency and reduce risks associated with raised funds[34] - The company plans to continue focusing on R&D and market expansion strategies to improve future performance[89] Compliance and Governance - The company has not reported any non-compliance issues regarding external guarantees during the reporting period[60] - The company has not experienced any significant changes in project feasibility or major delays in project implementation[34] Miscellaneous - The first quarter report was not audited[111]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2018, representing a year-on-year growth of 15%[21] - The gross profit margin decreased to 30% in 2018 from 35% in the previous year, indicating a decline in profitability[21] - The company's operating revenue for 2018 was ¥531,257,081.10, representing a 17.72% increase compared to ¥451,287,050.70 in 2017[28] - The net profit attributable to shareholders for 2018 was ¥48,481,608.04, a 5.36% increase from ¥46,014,798.01 in 2017[28] - The net profit after deducting non-recurring gains and losses was ¥36,768,118.53, showing a decrease of 6.44% from ¥39,297,298.71 in 2017[28] - The company's total assets at the end of 2018 were ¥887,764,782.69, a 10.73% increase from ¥801,773,776.72 at the end of 2017[28] - The basic earnings per share for 2018 was ¥0.35, down 12.50% from ¥0.40 in 2017[28] - The weighted average return on equity for 2018 was 8.17%, a decrease of 4.44% from 12.61% in 2017[28] - The net cash flow from operating activities for 2018 was ¥37,461,743.73, an increase of 18.82% compared to ¥31,527,853.27 in 2017[28] - The company achieved total operating revenue of CNY 531,257,081.10, a year-on-year increase of 17.72%[78] - The company's net profit attributable to shareholders was CNY 48,481,608.04, reflecting a year-on-year growth of 5.36%[78] Market Expansion and Product Development - The company is focusing on expanding its market presence in Southeast Asia, targeting a 25% increase in market share by 2020[21] - New product development includes the launch of a smart energy management system, expected to generate an additional RMB 200 million in revenue in 2019[21] - The company anticipates a revenue growth of 20% for the fiscal year 2019, driven by new product launches and market expansion efforts[21] - The company launched a new industrial power supply product line in Q3 2018, targeting high-end manufacturing equipment[84] - The electric vehicle charging equipment business will continue to develop high-efficiency and high-performance charging modules, capitalizing on national support for the charging station market[148] - The company plans to expand its power quality product business, focusing on new markets such as voltage sag and low line voltage, while maintaining its market share in harmonic governance and reactive power compensation[148] Research and Development - The company has allocated RMB 100 million for research and development in new technologies related to renewable energy solutions[21] - The company’s R&D expenses reached 48.3 million yuan, accounting for 9.09% of operating revenue, maintaining a consistent investment in R&D[69] - The R&D process consists of five stages: concept, planning, development, pilot testing, and mass production, with four major decision reviews throughout[52] - The company has obtained a total of 119 authorized patents and software copyrights, enhancing its technological innovation capabilities[69] - The company holds a total of 86 patents, including 21 invention patents, 45 utility model patents, and 20 design patents[108] Cash Flow and Investments - Cash and cash equivalents decreased by 46.41% compared to the beginning of the period, primarily due to increased investments in financial products[68] - The net cash flow from operating activities was ¥37,461,743.73, reflecting an 18.82% increase year-on-year[112] - Investment cash inflow surged to ¥529,567,234.44, a significant increase of 2,015.47% compared to the previous year[112] - The company reported an investment income of 11,028,534.24 yuan, which accounted for 20.07% of total profit[115] - The total amount of investment during the reporting period was 5,000,000.00 yuan, representing a 42.86% increase from the previous year's investment of 3,500,000.00 yuan[120] Risks and Challenges - The company faces risks related to macroeconomic conditions and industry competition, which may impact future performance[6] - The company acknowledges risks related to macroeconomic conditions and industry competition, emphasizing the need to maintain technological advantages and improve operational efficiency to mitigate these risks[153] Shareholder Commitments and Dividends - The company plans to distribute a cash dividend of CNY 13,685,032.90 for the year 2018, which represents 28.23% of the net profit attributable to ordinary shareholders[164] - The company will implement a cash dividend policy, distributing 1.00 yuan per 10 shares, totaling 13,685,032.90 yuan, which represents 100% of the distributable profit[159] - The company has consistently provided cash dividends over the past three years, with varying payout ratios[164] - The company has committed to stabilizing its stock price through share buybacks if certain conditions are met[165] - The company will publicly apologize and rectify any violations of commitments, ensuring transparency and accountability[198]

深圳市盛弘电气股份有限公司 2018 年第三季度报告全文 深圳市盛弘电气股份有限公司 2018 年第三季度报告 2018-095 2018 年 10 月 1 深圳市盛弘电气股份有限公司 2018 年第三季度报告全文 第一节重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人方兴、主管会计工作负责人杨柳及会计机构负责人(会计主管人 员)杨柳声明：保证季度报告中财务报表的真实、准确、完整。 2 深圳市盛弘电气股份有限公司 2018 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 公司是否需追溯调整或重述以前年度会计数据 □是√否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 865,626,261.01 | 801,773,776.72 | | 7.96% | | 归属于上市公司股东的净资产 | 604,890,915 ...

Financial Performance - The company reported a significant increase in revenue for the first half of 2018, with total revenue reaching RMB 300 million, representing a year-on-year growth of 25%[12]. - The net profit attributable to shareholders for the same period was RMB 50 million, an increase of 15% compared to the previous year[12]. - Total revenue for the reporting period was ¥248,503,050.63, an increase of 4.89% compared to ¥236,921,749.92 in the same period last year[18]. - Net profit attributable to shareholders decreased by 19.71% to ¥25,458,565.70 from ¥31,710,173.38 year-on-year[18]. - The company reported a net cash outflow of -¥104,553,155.23 in cash and cash equivalents, a decrease of 428.25% from an increase of ¥31,851,318.64 in the prior period[72]. - The total comprehensive income for the current period was ¥25,458,521.30, down from ¥31,710,237.37 in the previous period, reflecting a decline of 19.6%[178]. - The company reported a decrease in retained earnings of 1,877.6 million yuan during the current period[198]. Investment and Development - The company plans to invest in new product development, particularly in power electronics and renewable energy solutions, to enhance market competitiveness[12]. - There are plans for strategic acquisitions to enhance product offerings and market reach, with a target of completing at least two acquisitions by the end of 2019[12]. - The company plans to invest approximately 687 million yuan in a grid-side energy storage project in Zhenjiang, with a total scale of 101 MW/202 MWh[45]. - The company aims to transition from traditional product sales to providing system solutions and operational services as new applications of commercial energy storage and microgrid systems are promoted[49]. - The company has expanded its market development direction to include new energy vehicle manufacturers, providing products and technical services to leading companies in the industry[53]. Market Position and Competition - User data indicates a growing customer base, with an increase of 30% in new clients compared to the previous year[12]. - The company has identified risks related to intensified market competition and declining product prices, which it aims to mitigate through innovation and cost control measures[12]. - The company has established a leading position in the low-voltage power quality sector, evidenced by successful bids for major projects in subways, hospitals, and large theme parks[36]. - The average selling price of the company's main products, including power quality equipment, showed a downward trend, raising concerns about profit margin erosion if costs are not effectively managed[107]. Financial Management - No cash dividends or stock bonuses will be distributed to shareholders for this period, as the company prioritizes reinvestment into growth initiatives[5]. - The company has enhanced its market marketing capabilities, increasing the number and competence of sales personnel, which has expanded customer resources and market influence[51]. - The company has engaged in strategic partnerships with multiple financial institutions to enhance its funding capabilities[96]. - The company has a dedicated account storage system for the raised funds, ensuring proper management and allocation[88]. Research and Development - Research and development investment rose by 15.43% to ¥22,782,447.63, up from ¥19,736,329.27, indicating a focus on innovation[72]. - The company is focusing on technological advancements, particularly in energy storage systems, to meet the rising demand for electric vehicle charging solutions[12]. - The company is actively involved in the research and development of high-power power supply equipment and industrial automation equipment[104]. Subsidiaries and Corporate Structure - The company established three wholly-owned subsidiaries to support its strategic development[68]. - The company has completed the registration of its new subsidiaries as of the reporting period's end, enhancing its operational capacity[106]. - The company has not reported any significant non-equity investments during the reporting period[86]. Shareholder Information - The total number of shares increased from 91,233,553 to 136,850,329, with a capital reserve conversion of 45,616,776 shares[143]. - The company distributed cash dividends of RMB 3.00 per 10 shares, totaling RMB 27,370,065.90[145]. - The largest shareholder, Fang Xing, holds 19.03% of shares, with a total of 26,046,075 shares, of which 7,500,000 are pledged[150]. Risks and Challenges - The company faced risks related to intensified market competition and potential declines in product sales prices, necessitating ongoing innovation and customer service improvements[109]. - The company has implemented measures to assess the creditworthiness of new clients to mitigate risks associated with accounts receivable[110]. - The company reported no significant litigation or arbitration matters during the reporting period, reflecting a stable legal environment[119].

Financial Performance - Total revenue for Q1 2018 was ¥112,388,167.29, a decrease of 15.02% compared to ¥132,248,096.58 in the same period last year[9] - Net profit attributable to shareholders was ¥12,496,923.96, down 36.84% from ¥19,786,601.51 year-on-year[9] - Net profit excluding non-recurring gains and losses was ¥10,358,139.09, a decline of 46.24% compared to ¥19,266,621.49 in the previous year[9] - Basic earnings per share decreased by 52.60% to ¥0.137 from ¥0.289 in the same period last year[9] - The weighted average return on equity fell to 2.11%, down 5.45% from 7.56% year-on-year[9] - The total profit for the period was CNY 14,176,672.89, down 38.61% from CNY 23,092,920.41 year-on-year[22] - The net profit attributable to shareholders was CNY 12,496,923.96, representing a decline of 36.84% from CNY 19,786,601.51 in the previous year[22] - The gross profit margin for Q1 2018 was approximately 44.5%, compared to 48.7% in Q1 2017, indicating a decline in profitability[46] Cash Flow and Assets - The company's cash flow from operating activities was negative at -¥17,152,487.84, worsening by 286.98% compared to -¥4,432,364.03 in the same period last year[9] - As of March 31, 2018, the cash balance is CNY 198,504,020.38, down from CNY 267,647,826.67 at the beginning of the period[34] - The company's cash and cash equivalents decreased to CNY 198,504,020.38 from CNY 267,647,826.67, a decline of 26.0%[38] - Total cash inflow from investment activities was ¥81,092,783.56, significantly higher than ¥5,015,305.55 in the same period last year, driven by a recovery of investments amounting to ¥80,000,000.00[51] - The net cash flow from investment activities was ¥29,192,666.07, a substantial improvement from -¥1,896,890.98 in the previous year[51] - The ending balance of cash and cash equivalents was ¥166,520,490.58, down from ¥186,419,296.87 at the beginning of the period[55] Liabilities and Equity - Total assets at the end of the reporting period were ¥765,436,807.71, a decrease of 4.53% from ¥801,773,776.72 at the end of the previous year[9] - Total liabilities decreased to CNY 167,179,424.62 from CNY 216,987,767.00, representing a reduction of 22.9%[40] - The total equity attributable to shareholders increased to CNY 598,257,383.09 from CNY 584,786,009.72, an increase of 2.0%[37] - The company reported a decrease in short-term borrowings, which were CNY 30,950,000.00 at the beginning of the year, now reported as zero[39] Operational Efficiency and Strategy - The management team is focused on improving operational efficiency and risk control as the company expands its scale and production capacity[12] - The company plans to continue expanding market share and improving product quality while enhancing brand influence[23] - The company faces risks from intensified market competition and potential declines in product sales prices due to new entrants and technological advancements[11] Investments and Projects - Prepayments increased by 159.84% to CNY 9,970,786.42, primarily due to prepayment for ERP system software[19] - Investment income surged by 12,533.08% to CNY 1,933,561.64, driven by increased returns from purchased financial products[20] - The electric power quality product construction project has not yet commenced, with a planned investment of CNY 9,751.08 million[27] - The electric vehicle charging system construction project has not yet commenced, with a planned investment of CNY 13,326.56 million[27] - The R&D center construction project has not yet commenced, with a planned investment of CNY 5,033 million[27] - CNY 1,481.07 million has been cumulatively invested from the raised funds, representing 5.00% of the total raised amount[26] - CNY 1,481.07 million has been fully utilized for supplementing working capital and repaying bank loans, achieving 100% progress[27] Other Financial Metrics - The company's operating expenses included sales expenses of CNY 18,642,676.18, down 11.8% from CNY 21,150,748.34 in Q1 2017[46] - The financial expenses decreased significantly to CNY 456,910.11 from CNY 843,051.95, reflecting improved cost management[46] - The tax expenses for the period were CNY 1,679,748.93, down from CNY 3,306,318.90 in Q1 2017, indicating a lower tax burden[46] - The company received ¥3,748,621.31 in tax refunds during the quarter, contributing to cash inflows[53]

Financial Performance - Operating revenue for the period was ¥98,726,233.95, down 11.33% from the same period last year[7] - Net profit attributable to shareholders decreased by 58.90% to ¥8,449,439.26[7] - Basic earnings per share fell by 63.33% to ¥0.11[7] - The weighted average return on equity was 2.25%, down 6.94% compared to the previous year[7] - Total operating revenue for Q3 2017 was CNY 98,726,233.95, a decrease of 11.5% compared to CNY 111,343,949.12 in the same period last year[36] - Net profit for Q3 2017 was CNY 8,449,439.26, a decline of 59.0% from CNY 20,558,875.46 in Q3 2016[37] - Earnings per share (EPS) for the period was CNY 0.11, compared to CNY 0.30 in the previous year, indicating a significant drop in profitability[38] - The total profit for the current period was ¥47,241,682.54, down 16.1% from ¥56,250,670.59 in the previous period[46] Assets and Liabilities - Total assets increased to ¥785,341,514, representing a 70.23% increase compared to the previous year[7] - Net assets attributable to shareholders rose to ¥577,956,459.40, a 129.39% increase year-over-year[7] - The company's cash and cash equivalents increased by 332.19% to RMB 405,224,807.94 as of September 30, 2017, primarily due to new share issuance[18] - Accounts receivable decreased by 69.11% to RMB 7,970,425.85, attributed to the transfer of bank acceptance bills to suppliers[18] - The company's capital reserve rose by 370.77% to RMB 350,477,806.70, mainly due to new share issuance and share-based payment impacts[18] - Short-term borrowings increased by 41.66% to RMB 48,163,750.00, reflecting an increase in bank loans during the reporting period[18] - The company reported a total liability of CNY 207,381,404.35, slightly down from CNY 209,374,185.78 in the previous quarter[37] Cash Flow - Cash flow from operating activities showed a significant decline, with a net cash flow of ¥21,610,746.36, down 434.99% year-to-date[7] - The net cash flow from operating activities for the current period is ¥21,610,746.36, compared to a negative cash flow of ¥6,451,109.07 in the previous period, indicating a significant improvement[55] - Total cash inflow from financing activities reached ¥354,687,009.44, a substantial increase from ¥24,000,000.00 in the previous period[57] - The net cash flow from investment activities was negative at -¥5,476,811.10, contrasting with a positive cash flow of ¥4,826,983.16 in the previous period[55] - Cash inflow from sales of goods and services was ¥256,117,110.68, an increase from ¥242,055,142.70 in the previous period[55] Shareholder Information - The total number of shareholders at the end of the reporting period was 18,956[12] - The largest shareholder, Fang Xing, holds 19.03% of the shares, with 5,000,000 shares pledged[12] Other Financial Metrics - The company reported non-recurring gains of ¥3,671,215.14 for the period[9] - The company’s other income was RMB 10,594,919.28, attributed to the implementation of new government subsidy accounting standards[18] - The company incurred asset impairment losses of CNY 4,339,121.51, significantly higher than CNY 1,458,369.35 in the previous year, reflecting potential issues in asset valuation[37] - Other income for the period was CNY 5,123,166.95, which was not reported in the previous year, suggesting new revenue streams[37] Corporate Developments - The company established a subsidiary and signed related cooperation agreements, approved by the board on September 19, 2017[20] - The company received RMB 295,917,109.44 from new share issuance during the reporting period[19]