证券代码：300697 证券简称：电工合金 江阴电工合金股份有限公司投资者关系活动记录表 编号：2022-06 | --- | --- | --- | |-------------------------|-------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | 特定对象调研 | 分析师会议 | | 投资者关系活动类 | □媒体采访 | 业绩说明会 | | 别 | □新闻发布会 | 路演活动 | | | □现场参观 | 电话会议 | | | □其他 | （请文字说明其他活动内容） | | 参与单位名称及人 员姓名 | 华 ...

证券代码：300697 证券简称：电工合金 江阴电工合金股份有限公司投资者关系活动记录表 编号：2022-04 | --- | --- | --- | |-------------------------|-------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------| | | 特定对象调研 | 分析师会议 | | 投资者关系活动类 | □媒体采访 | 业绩说明会 | | 别 | □新闻发布会 | 路演活动 | | | □现场参观 | 电话会议 | | | □其他 | （请文字说明其他活动内容） | | 参与单位名称及人 员姓名 | 富国基金 | 邬华宇、王建润、吴栋栋 | | 时间 | 2022 年 8 月 30 日下午 | 16:30-17:00 | | 地点 | 电话会议 ...

Group 1: Product Applications and Market Demand - The company's copper busbars and components are primarily used in power generation and distribution, including high and low voltage electrical facilities such as switch cabinets, bus ducts, and circuit breakers, as well as in wind, hydro, and nuclear power plants. The market demand is closely related to the development of the national economy [2] - The main products are high-voltage products, characterized by high strength and high conductivity [2] Group 2: Performance Challenges - The decline in the performance of the electrified railway contact network business is attributed to the impact of the COVID-19 pandemic, which has slowed railway construction and logistics, leading to inventory buildup and a slight decrease in revenue from related products [2] - Despite maintaining a high market share in this segment, the company faced challenges due to external factors affecting construction and logistics [2] Group 3: Revenue Forecast and Product Types - The revenue forecast for the copper components business in 2023 will largely depend on fluctuations in copper prices [3] - The main products include electrified railway contact network series products (copper wire materials) and copper busbar series products (copper strip materials) [2] Group 4: New Energy Vehicle Components - The company has developed high-performance induction motor oxygen-free copper rotor bars, which have been supplied to NIO for models such as ES8, ES6, and ET7, replacing imported products from Germany [3] - The new energy vehicle fundraising project includes three main products: module connectors, electronic control connectors & special terminals, and high-voltage connectors for vehicles (800V fast charging demand), with strong overall market demand [3] Group 5: Safety and Performance Enhancements - The high-voltage connectors for vehicles extend from the charging interface to the battery pack, offering lower costs and easier layout compared to traditional wiring harnesses, making them a mainstream development direction [3] - The copper busbars' high strength and conductivity, along with their stability and ease of layout, provide better safety performance compared to wiring harnesses [3]

编号：2022-07 证券代码：300697 证券简称：电工合金 江阴电工合金股份有限公司 投资者关系活动记录表 | --- | --- | --- | --- | |------------------|--------------------------------------|--------------------------------------------|------------------------------------------------------------------------| | | | 特定对象调研 □分析师会议 | | | 投资者关系活动类 | □媒体采访 □业绩说明会 | | | | 别 | □新闻发布会 □路演活动 | | | | | □现场参观 □电话会议 | | | | | □其他 | （请文字说明其他活动内容） | | | | 中信证券 李鹞；富国基金 | 孙柏蔚；彬元资本 | 罗凯；建信信托 鲍为； | | 参与单位名称及人 | 混沌投资 王炎太；希瓦投资 | 王韦皓；中庚基金 | 吕佩瑾；中国平安 金立； | | 员姓名 | 真科基金 罗志弘；国泰君安 ...

Financial Performance - The company's operating revenue for Q3 2022 was ¥609,936,937, representing a 4.34% increase year-over-year, while the year-to-date revenue reached ¥1,687,327,859.83, up 6.80% compared to the same period last year[3]. - Net profit attributable to shareholders for Q3 2022 was ¥21,725,955.49, a decrease of 11.78% year-over-year, with year-to-date net profit at ¥81,702,333.02, down 1.32%[3]. - Total operating revenue for the period reached ¥1,687,327,859.83, an increase of 6.8% compared to ¥1,579,869,375.35 in the previous period[16]. - Net profit for the period was ¥81,414,122.82, slightly down from ¥82,810,583.40, indicating a decrease of 1.7%[17]. - Basic earnings per share decreased to ¥0.245 from ¥0.249, reflecting a decline of 1.6%[18]. Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥93,261,676.97, showing a significant increase of 152.85% compared to the previous year[7]. - The company reported a significant increase in cash flow from operating activities, attributed to the recovery of sales payments[7]. - The net cash flow from operating activities was ¥93,261,676.97, a significant improvement compared to a net outflow of ¥176,453,599.90 in the previous period[19]. - The company reported a cash inflow from operating activities totaling ¥1,975,125,545.04, compared to ¥1,637,619,189.36 in the previous period, marking an increase of 20.6%[19]. - The cash and cash equivalents at the end of the period increased to 137,507,350.73 CNY from 47,929,730.25 CNY year-over-year[20]. Assets and Liabilities - Total assets at the end of Q3 2022 amounted to ¥1,616,613,331.79, reflecting a 12.01% increase from the end of the previous year[3]. - The total liabilities increased to ¥678,960,706.04 from ¥524,505,346.23, representing a rise of 29.4%[17]. - The total equity attributable to shareholders of the parent company was ¥936,398,391.93, up from ¥917,231,730.20, showing an increase of 2.3%[17]. - Current assets total CNY 1.36 billion, up from CNY 1.19 billion at the start of the year, indicating a growth of approximately 14%[14]. - Cash and cash equivalents increased to CNY 254.46 million from CNY 133.83 million, representing a growth of about 90%[14]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 16,935[9]. - The largest shareholder, Chen Lijiao, holds 31.25% of shares, totaling 104 million shares, with 78 million shares pledged[9]. - The company has a total of 99.99% of shares held by the top two shareholders, indicating a high concentration of ownership[9]. Expenses and Costs - Total operating costs amounted to ¥1,582,930,041.48, up from ¥1,463,983,481.57, reflecting a year-over-year increase of 8.5%[16]. - Financial expenses increased by 84.18% year-over-year to ¥16,068,328.80, primarily due to higher interest expenses[7]. - Research and development expenses were ¥24,243,121.70, slightly down from ¥24,328,094.15, indicating a decrease of 0.4%[17]. Inventory and Receivables - Inventory as of September 30, 2022, is CNY 348.34 million, compared to CNY 322.80 million at the beginning of the year, showing an increase of about 8%[14]. - The company reported a significant increase in accounts receivable, totaling CNY 574.39 million, up from CNY 537.81 million, which is an increase of approximately 7%[14]. - The company experienced a 395.87% increase in accounts payable, reaching ¥113,090,192.29, mainly due to an increase in bank acceptance bills issued[6]. Mergers and Acquisitions - The company completed the absorption merger of its wholly-owned subsidiary Jiangyin Kangsheng New Materials Co., Ltd., which has been officially deregistered[11]. Other Financial Information - Other comprehensive income after tax was reported at -¥9,287,671.29, worsening from -¥5,025,633.48 in the previous period[17]. - The net cash flow from investment activities was -5,945,349.98 CNY, compared to -26,255,336.35 CNY in the previous year, indicating an improvement[20]. - The cash inflow from investment activities was 1,142,204,506.13 CNY, down from 1,544,967,598.55 CNY year-over-year[20]. - The company did not undergo an audit for the third quarter report[21]. - The report was issued by the board of directors on October 22, 2022[22].

江阴电工合金股份有限公司 2022 年半年度报告全文 江阴电工合金股份有限公司 2022 年半年度报告 2022-027 二零二二年八月二十日 1 江阴电工合金股份有限公司 2022 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 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。 公司负责人冯岳军、主管会计工作负责人沈国祥及会计机构负责人(会计 主管人员)刘云声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 本报告中涉及的未来发展计划等前瞻性陈述，不构成公司对投资者的实质 承诺，投资者及相关人士均应当对此保持足够的风险认识，并且应当理解计 划、预测与承诺之间的差异。 公司在本报告第三节"管理层讨论与分析"中"十、公司面临的风险和应 对措施"描述了公司经营中可能面临的风险，敬请广大投资者认真阅读相关 具体内容，注意投资风险。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | 目录 | | --- | | 第一节 重要提示、目录和释义 | 2 | ...

Revenue and Profit - The company's revenue for Q1 2022 was CNY 470,206,727.77, representing a 6.80% increase compared to CNY 440,282,582.11 in the same period last year[2]. - The net profit for Q1 2022 was CNY 34,934,742.76, a decrease of 15.5% compared to CNY 41,493,983.48 in Q1 2021[18]. - Net profit attributable to shareholders decreased by 15.94% to CNY 34,883,220.51 from CNY 41,500,110.05 year-on-year[2]. - The total comprehensive income attributable to the parent company was CNY 39,252,544.49, a decrease from CNY 42,047,774.57 in the same period last year[19]. - The operating profit for Q1 2022 was CNY 38,849,438.38, down 22.9% from CNY 50,324,382.68 in Q1 2021[18]. Cash Flow and Liquidity - The net cash flow from operating activities improved by 48.34%, reaching CNY -21,124,893.92 compared to CNY -40,891,525.50 in the previous year[2]. - The cash flow from operating activities showed a net outflow of CNY 21,124,893.92, an improvement from a net outflow of CNY 40,891,525.50 in the previous year[21]. - The cash flow from investing activities resulted in a net outflow of CNY 22,229,258.18, compared to a net outflow of CNY 39,476,718.07 in Q1 2021[22]. - The cash and cash equivalents at the end of Q1 2022 were CNY 38,542,087.70, a decrease from CNY 121,540,242.95 at the end of Q1 2021[22]. - Cash and cash equivalents at the end of Q1 2022 were CNY 132,347,555.54, slightly down from CNY 133,827,964.87 at the beginning of the year[13]. Assets and Liabilities - Total assets increased by 3.22% to CNY 1,489,722,985.46 from CNY 1,443,279,520.45 at the end of the previous year[2]. - Total liabilities increased to CNY 531,644,744.50 in Q1 2022, up from CNY 524,505,346.23 at the start of the year, marking a 1.0% increase[14]. - Total assets as of March 31, 2022, were CNY 1,489,722,985.46, compared to CNY 1,443,279,520.45 at the beginning of the year, reflecting a growth of 3.2%[14]. Inventory and Costs - The company's inventory rose by 30.06% to CNY 419,816,918.50 due to logistics disruptions caused by the COVID-19 pandemic[7]. - The total operating costs for Q1 2022 amounted to CNY 434,501,855.26, up 11.7% from CNY 389,003,103.09 in Q1 2021[17]. - The gross profit margin for Q1 2022 was approximately 7.6%, down from the previous year's margin due to increased costs[17]. - Inventory levels increased to CNY 419,816,918.50 in Q1 2022, up from CNY 322,797,056.11 at the start of the year, indicating a 30.0% rise[13]. Shareholder Information - The company had a total of 18,220 common shareholders at the end of the reporting period[10]. - The basic and diluted earnings per share for Q1 2022 were both CNY 0.105, down from CNY 0.125 in Q1 2021[19]. Tax and Financial Expenses - The company reported a 54.15% decrease in income tax expenses, amounting to CNY 3,915,814.93, attributed to a reduction in total profit[8]. - The company reported a tax expense of CNY 3,915,814.93 for Q1 2022, down from CNY 8,540,835.29 in Q1 2021[18]. - Financial expenses surged by 116.97% to CNY 3,627,668.34, primarily due to increased discount interest expenses[8]. Research and Development - Research and development expenses for Q1 2022 were CNY 8,353,062.51, an increase from CNY 7,676,553.19 in the previous year, indicating a focus on innovation[17]. Foreign Exchange - The company experienced a foreign exchange loss of CNY 116,350.77 during the quarter[22].

Financial Performance - The company's operating revenue for 2021 was ¥2,173,856,528.84, representing a 35.32% increase compared to ¥1,606,486,263.39 in 2020[19]. - The net profit attributable to shareholders decreased by 7.97% to ¥106,335,522.14 in 2021 from ¥115,544,471.04 in 2020[19]. - The net cash flow from operating activities was negative at -¥90,081,604.59, a decline of 320.90% compared to -¥21,401,996.75 in 2020[19]. - The total assets increased by 12.79% to ¥1,443,279,520.45 at the end of 2021 from ¥1,279,618,193.23 at the end of 2020[19]. - The basic earnings per share decreased by 7.78% to ¥0.320 in 2021 from ¥0.347 in 2020[19]. - The weighted average return on equity was 11.90% in 2021, down from 13.23% in 2020[19]. - The company achieved a net profit attributable to shareholders of 106,335,522.14 CNY for the year 2021, with the parent company reporting a net profit of 146,749,539.75 CNY[157]. - The total cash dividend distributed is 53,248,000 CNY, with a distribution of 1.60 CNY per 10 shares (including tax)[155]. Market and Industry Outlook - The company’s future development outlook includes a discussion of potential major risks it may face[4]. - The company’s copper processing industry is experiencing growth, with China's copper material production reaching 2,123.5 million tons in 2021, a 3.78% increase year-on-year[31]. - During the 14th Five-Year Plan period, fixed asset investment in the power sector is expected to exceed 6 trillion yuan, driving steady growth in demand for copper processing materials[36]. - By 2025, China's automotive production scale is projected to reach approximately 35 million units, with new energy vehicles accounting for over 20% of sales, leading to an estimated copper consumption of 130,370 tons in the automotive sector, reflecting an average annual growth rate of 11.6%[37]. - The demand for copper in the power industry accounts for 46% of total copper consumption in China, with transformers, generators, and electrical wires being the primary demand components[42]. - The copper processing industry in China is experiencing a steady growth phase, with the country being the largest producer, consumer, and exporter of copper processing materials globally[37]. Production and Capacity - The company has an annual production capacity of 23,200 tons for copper busbars, positioning it as a leading manufacturer in the industry[50]. - The company is expanding its production capacity by an additional 20,000 tons through technological upgrades and facility expansions[72]. - The company secured a total of 9,200 tons of contracts for electrified railway contact lines and supporting cables, accounting for 33.06% of the total market demand in this segment[71]. - The company achieved a production plan adherence rate increase of 15% and reduced the product production cycle by 15%, resulting in a timely order delivery rate of 95%[74]. Research and Development - The company holds a total of 52 patents, including 9 invention patents, and has 5 high-tech products recognized by Jiangsu Province[73]. - Research and development expenses for 2021 amounted to CNY 31,187,355.65, an increase of 14.26% compared to the previous year[92]. - The number of R&D personnel increased by 27.27% from 66 in 2020 to 84 in 2021, with R&D personnel now making up 13.00% of the total workforce[94]. - The company is currently developing high-performance copper busbars for fast-charging battery packs, aiming for a dielectric strength of over 3000VAC and a leakage current of less than 0.5mA[93]. - Ongoing projects include the development of a 300KW electric vehicle rotor copper bar, which aims to improve energy efficiency and increase vehicle range[93]. Corporate Governance - The company has established a robust corporate governance structure, ensuring compliance with relevant laws and regulations, and maintaining a clear separation from its controlling shareholder[118][119]. - The board of directors consists of five members, including two independent directors, ensuring compliance with governance standards and active participation in management decisions[120]. - The company has developed a performance evaluation and incentive mechanism for senior management, linking their compensation to the company's operational performance[120]. - The company emphasizes the importance of investor relations management, ensuring transparency and protecting the rights of all shareholders, especially minority shareholders[121]. - The company operates independently from its controlling shareholders in terms of assets, personnel, finance, organization, and business, maintaining a complete business system[122]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report, particularly concerning future operational risks[4]. - The company maintains a robust operation due to effective implementation of raw material hedging, mitigating the impact of raw material price fluctuations[39]. - The company has implemented hedging strategies for long-term orders to manage the risks associated with raw material price volatility, although future challenges remain if procurement and inventory management are not maintained[115]. Employee Management - The company has a total of 646 employees, with 478 in production, 84 in technical roles, and 26 in sales[151]. - The company has established a comprehensive training program to enhance employee skills and ensure alignment with business development needs[153]. - The company respects employee rights and provides a safe working environment, adhering to labor laws and improving employee welfare systems[168]. Environmental Responsibility - The company has established an environmental management system in compliance with GB/T 24001-2016/ISO 14001:2015 standards to ensure sustainable production practices[166]. - The company implemented measures to reduce carbon emissions, including the installation of photovoltaic power generation devices and energy-saving equipment updates[166]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[166]. Shareholder Relations - The company maintains a cash dividend policy that aligns with its articles of association, ensuring the protection of minority shareholders' rights[154]. - The company has established a commitment to maintain a consistent and reasonable cash dividend policy that aligns with its long-term interests and sustainable development[175]. - The company has ensured communication with minority shareholders regarding profit distribution plans through various channels[180]. Legal and Compliance - The company has not reported any significant differences in its governance practices compared to regulations set by the China Securities Regulatory Commission[121]. - The company has a comprehensive internal control system to ensure compliance with relevant laws and regulations, with no reported violations during the period[167]. - The company has not faced any bankruptcy reorganization matters during the reporting period[188].

江阴电工合金股份有限公司 2021 年第三季度报告 证券代码：300697 证券简称：电工合金 公告编号：2021-057 江阴电工合金股份有限公司 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。 1 江阴电工合金股份有限公司 2021 年第三季度报告 (二)非经常性损益项目和金额 √ 适用 □ 不适用 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 □ 是 √ 否 公司是否需追溯调整或重述以前年度会计数据 | | 本报告期 | 本报告期比上年同期增减 | 年初至报告期末 | 年初至报告期末比上年 | | --- | --- | --- | --- | --- | | | | | | 同期增减 | | 营业收入（元 ...

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 995,310,590.46, representing a 35.51% increase compared to CNY 734,490,036.99 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was CNY 58,167,073.67, up 17.31% from CNY 49,584,204.06 year-on-year[23]. - The net profit after deducting non-recurring gains and losses was CNY 57,632,028.21, reflecting a 28.30% increase from CNY 44,918,558.27 in the previous year[23]. - The basic earnings per share increased to CNY 0.175, a rise of 17.45% compared to CNY 0.149 in the same period last year[23]. - The company's operating revenue for the reporting period was CNY 995.31 million, a year-on-year increase of 35.51%[49]. - The sales revenue from electrified railway contact network products reached CNY 261.42 million, with a sales volume of 4,068.28 tons, representing a year-on-year growth of 28.43% and 6.05% respectively[46]. - The sales revenue from copper busbars and copper components was CNY 707.31 million, showing a year-on-year increase of 38.60%[47]. - The company won bids totaling CNY 342.48 million, capturing approximately 20% market share in the railway system projects[46]. - The gross profit margin for electrified railway contact network products improved to 20.89%, up 5.59% year-on-year[52]. - The gross profit margin for copper busbars and components decreased to 10.59%, down 1.72% year-on-year[52]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,398,248,673.21, a 9.27% increase from CNY 1,279,618,193.23 at the end of the previous year[23]. - The net assets attributable to shareholders of the listed company decreased by 3.15% to CNY 869,593,167.24 from CNY 897,843,728.13 at the end of the previous year[23]. - Current liabilities rose to CNY 520,244,024.19, compared to CNY 377,210,935.77, marking an increase of about 38%[134]. - Short-term borrowings increased significantly to CNY 465,333,661.11 from CNY 288,414,359.52, reflecting a rise of approximately 61.5%[134]. - The company's total equity decreased to CNY 871,466,898.86 from CNY 899,733,493.46, a decline of about 3.2%[135]. - The total liabilities increased to CNY 526,781,774.35 from CNY 379,884,699.77, representing a growth of about 38.7%[134]. Cash Flow - The net cash flow from operating activities was negative at CNY -109,828,863.20, a significant decline of 607.50% compared to CNY 21,640,962.72 in the same period last year[23]. - The company's cash flow from operating activities showed a significant decline, with a net outflow of CNY 109.83 million, a decrease of 607.50%[49]. - Operating cash inflow for the first half of 2021 was CNY 1,039,479,820.84, an increase of 40.9% compared to CNY 737,865,260.78 in the first half of 2020[149]. - Operating cash outflow for the first half of 2021 was CNY 1,149,308,684.04, up from CNY 716,224,298.06 in the same period of 2020, resulting in a net cash flow from operating activities of -CNY 109,828,863.20[150]. - The total cash and cash equivalents at the end of the first half of 2021 were CNY 103,862,958.19, down from CNY 166,485,732.74 at the end of the first half of 2020[151]. Research and Development - Research and development expenses increased by 34.01% to CNY 14.71 million, primarily due to rising costs of raw materials[49]. - The company’s technology center is recognized as a provincial engineering research center, highlighting its commitment to innovation and research capabilities[41]. - Research and development expenses rose to ¥14,392,223.35, a 42.9% increase from ¥10,069,233.16 year-over-year[140]. Market Position and Operations - The company has a production capacity of 23,200 tons per year for copper busbars, positioning it as a leading manufacturer in the industry[37]. - The company captured 21.25% of the market demand for electrified railway contact lines and supporting cables, with a total bid volume of 2.68 million tons from 2018 to 2020[37]. - The company has established long-term stable partnerships with major clients, including international firms like Schneider and ABB, ensuring predictable product demand[38]. - The company has been recognized as a key supplier for the China Railway Electrification Bureau Group, enhancing its market position in the electrified railway sector[39]. - The company has established a comprehensive quality management system, ensuring that product quality exceeds national standards by more than 5% for key products[43]. - The company operates under a "sales-driven production" model, optimizing inventory and production schedules based on customer orders[32]. Risk Management - The company faces market competition risks, particularly in the electrified railway contact network sector, where it holds a leading market share[65]. - Raw material costs, primarily electrolytic copper, account for over 90% of the company's production costs, making it vulnerable to price fluctuations[66]. - The company has implemented a pricing model that allows it to pass on short-term price fluctuations to customers, mitigating some risks associated with raw material costs[66]. - The company has not engaged in any derivative investments during the reporting period, indicating a conservative approach to financial risk management[60]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company distributed a cash dividend of 83,200,000, amounting to 4 yuan per 10 shares, based on a total share capital of 20,800,000 shares[112]. - The company's total share capital increased from 20,800,000 to 33,280,000 shares following the 2020 profit distribution plan[114]. - The total number of ordinary shareholders at the end of the reporting period is 22,882[118]. - The largest shareholder, Chen Lijiao, holds 31.25% of the shares, totaling 104,000,000 shares, with a pledge of 78,000,000 shares[118]. Compliance and Governance - The company has not issued any non-standard audit reports for the reporting period[86]. - The company reported no significant environmental issues or administrative penalties during the reporting period[79]. - There were no major lawsuits or arbitration matters affecting the company in the reporting period[89]. - The company did not engage in any significant related-party transactions during the reporting period[92]. - The company has not faced any penalties or required rectifications during the reporting period[90]. Accounting and Reporting - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring a true and complete reflection of the company's financial status and operating results[186]. - The company has five subsidiaries included in the consolidated financial statements, all of which are wholly owned or controlled[57]. - The company adopts the Chinese Yuan (RMB) as its functional currency for accounting purposes[189]. - The company has evaluated its ability to continue as a going concern for the next 12 months and found no significant doubts regarding its sustainability[184].