Financial Performance - Operating revenue decreased by 75.26% to CNY 30,373,206.97 compared to the same period last year[7] - Net profit attributable to shareholders was a loss of CNY 34,368,495.96, a decrease of 269.37% compared to the same period last year[7] - Basic earnings per share was -CNY 0.44, a decrease of 175.00% compared to the same period last year[7] - The company reported a net operating loss of RMB -6,341,862.12, a decrease of 120.92% compared to the previous period[16] - The company reported a net loss for the quarter, with financial expenses rising to CNY 8,114,767.85, compared to CNY 4,483,048.09 in the previous year[32] - The company’s total revenue for the year-to-date period was approximately ¥439.11 million, down from ¥537.16 million in the previous year, indicating a declining trend[41] - The net profit for the current period was -¥9,190,624.24, compared to a net profit of ¥24,369,115.37 in the previous period[43] - The total comprehensive loss for the third quarter was ¥29.31 million, compared to a loss of ¥184,915.26 in the previous year, indicating a significant increase in losses[39] Assets and Liabilities - Total assets increased by 33.14% to CNY 2,347,068,600.70 compared to the end of the previous year[7] - Net assets attributable to shareholders increased by 59.81% to CNY 1,100,705,483.83 compared to the end of the previous year[7] - Current liabilities totaled CNY 1,166,409,249.06, an increase of 18% compared to CNY 988,788,979.16 in the previous year[27] - The company's fixed assets increased to CNY 162,431,192.42 from CNY 156,800,224.80, reflecting a growth of 4.1%[26] - Cash and cash equivalents increased to CNY 270,869,314.21 from CNY 170,157,619.30, representing a growth of 59%[28] - Accounts receivable increased to CNY 1,271,629,301.18, up 16.5% from CNY 1,091,505,293.19 year-on-year[28] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 240,059,614.18, a decrease of 20.53% compared to the same period last year[7] - Cash inflow from investment activities totaled 91,339,360.46 CNY, while cash outflow was 333,209,087.33 CNY, resulting in a net cash flow of -241,869,726.87 CNY[52] - The net cash flow from financing activities was 532,007,108.68 CNY, compared to 200,731,364.68 CNY in the previous period, showing significant growth[53] - The ending balance of cash and cash equivalents was 157,123,853.30 CNY, up from 107,741,416.95 CNY in the previous period[50] - The company reported a total cash outflow of 571,042,407.23 CNY from operating activities, which is a decrease from 789,295,880.32 CNY in the previous period[52] Shareholder Information - The total number of shareholders at the end of the reporting period was 15,454[11] - The largest shareholder, Li Zhanjiang, holds 28.36% of the shares, totaling 22,260,154 shares[11] Research and Development - The company is focusing on research and development, with R&D expenses amounting to CNY 11,790,964.36, an increase of 15.9% from CNY 10,165,317.84 last year[32] - Research and development expenses for the third quarter were ¥9.54 million, slightly up from ¥9.38 million in the previous year, showing continued investment in innovation[37] - Research and development expenses for the current period were ¥27,142,192.73, slightly up from ¥26,561,623.25 in the previous period[45] Other Income and Expenses - The company reported non-operating income of CNY 5,676,776.17 for the year-to-date period[8] - Financial expenses increased by 113.93% to RMB 20,476,887.45 due to higher financing costs[16] - The company reported other income of ¥1.06 million for the third quarter, slightly down from ¥1.12 million in the previous year, reflecting a minor decrease in additional revenue sources[38] - The company reported other income of ¥3,090,241.60 for the current period, consistent with the previous period's figure of ¥3,928,997.29[45]

Financial Performance - Total revenue for the first half of 2018 was approximately ¥408.74 million, a decrease of 1.37% compared to ¥414.40 million in the same period last year[21]. - Net profit attributable to shareholders was approximately ¥25.18 million, down 25.23% from ¥33.67 million year-on-year[21]. - Net profit after deducting non-recurring gains and losses was approximately ¥22.54 million, a decrease of 27.11% compared to ¥30.92 million in the previous year[21]. - Basic earnings per share decreased by 28.07% to ¥0.41 from ¥0.57 in the previous year[21]. - The company achieved total operating revenue of ¥408,739,314.49, a decrease of 1.37% compared to the same period last year[58]. - The net profit attributable to shareholders was ¥25,177,871.72, down 25.23% year-on-year, impacted by macroeconomic downturns and reduced government subsidies for new energy vehicles[58]. - Operating profit decreased to $24.77 million, down 41.58% from $42.32 million in the previous period[172]. - Net profit for the current period is $20.97 million, a decline of 45.05% compared to $38.19 million in the previous period[173]. Cash Flow and Financial Position - The net cash flow from operating activities improved to approximately -¥86.69 million, a 36.25% increase from -¥135.99 million in the same period last year[21]. - The company reported a significant increase in cash and cash equivalents, with a net increase of approximately ¥217.64 million, up 308.12% due to funds raised from the initial public offering[71]. - The net cash flow from operating activities was -104,117,848.74 CNY, an improvement from -168,864,152.59 CNY in the previous period, indicating a 38.3% reduction in cash outflow[180]. - The total cash inflow from financing activities was 780,531,880.91 CNY, significantly higher than 239,358,408.05 CNY in the prior period, representing a 226.5% increase[180]. - The company reported a total cash and cash equivalents balance of 260,198,706.24 CNY at the end of the period, up from 99,771,812.89 CNY at the beginning of the period[181]. Assets and Liabilities - Total assets increased by 41.97% to approximately ¥2.50 billion from ¥1.76 billion at the end of the previous year[21]. - The total liabilities of the company were CNY 1,367,741,677.86, compared to CNY 1,074,136,156.50 at the beginning of the period, which is an increase of about 27%[160]. - The company's total assets increased to CNY 2,322,241,517.95 from CNY 1,644,402,373.41, marking a growth of about 41.2%[165]. - The company's equity attributable to shareholders increased to CNY 1,135,073,979.79 from CNY 688,762,575.45, reflecting a growth of approximately 65%[161]. Research and Development - The company’s core product, the electric vehicle powertrain system, is recognized for its high performance and low energy consumption, positioning it as a leader in the industry[29]. - The company has successfully developed multiple core technologies in the field of electric vehicle powertrain systems, leveraging years of experience in the industry[40]. - The R&D organization includes multiple specialized research institutes focusing on electric drive technology, mechanical transmission, electronic control, and system safety, promoting innovation and collaboration[47]. - The company emphasizes market-oriented research and development, ensuring that new products meet customer needs and industry standards[46]. - The company is currently developing an integrated three-in-one powertrain system for pure electric passenger vehicles, which is in the design development stage[59]. Market Position and Strategy - The company maintains strong partnerships with major domestic electric vehicle manufacturers, enhancing its market position as a key supplier of powertrain systems[28]. - The company’s sales strategy focuses on direct sales, leveraging a dedicated marketing center to manage market operations and customer relationships[37]. - The company is actively involved in the development of new technologies and products, focusing on electric vehicle power systems and automation[68]. Risks and Challenges - The company faces risks related to changes in industry policies, particularly in the electric vehicle sector, which may impact production and operations[99]. - The company relies heavily on a few major customers, with the top five customers accounting for a significant portion of sales, posing a risk if their purchasing behavior changes[101]. - The procurement price of raw materials showed a downward trend during the reporting period, but potential supply shortages or price increases could adversely affect operations[101]. - Rapid business expansion may lead to management risks if the company fails to enhance its management systems and internal controls[105]. Corporate Governance and Structure - The company appointed new executives, including a new CFO, indicating a strategic shift in management[151]. - The company has not reported any expected significant changes in net profit for the upcoming period[98]. - The company has not encountered any issues or other situations regarding the use and disclosure of raised funds[87]. Shareholder Information - The largest shareholder, Li Zhanjiang, holds 28.36% of the shares, totaling 22,260,154 shares[143]. - The top ten shareholders collectively hold 37.93% of the total shares, with Li Zhanjiang being the largest[143]. - The company has a total of 58,868,570 restricted shares held by domestic entities, accounting for 74.99% of the total shares[135].

Financial Performance - The company's operating revenue for 2018 was approximately ¥493.31 million, a decrease of 45.19% compared to ¥900.07 million in 2017[16]. - The net profit attributable to shareholders for 2018 was approximately ¥21.21 million, down 77.50% from ¥94.26 million in 2017[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately -¥40.23 million, a decline of 150.48% compared to ¥79.70 million in 2017[16]. - The basic earnings per share for 2018 was ¥0.30, down 81.25% from ¥1.60 in 2017[16]. - The total revenue for 2018 was RMB 493.31 million, representing a decrease of 45.19% compared to RMB 900.07 million in 2017[75]. - The revenue from pure electric powertrain systems was RMB 427.94 million, accounting for 86.75% of total revenue, down 9.62% from RMB 867.34 million in 2017[75]. - The gross profit margin for the new energy vehicle sector was 35.14%, with a decrease of 8.38% compared to the previous year[77]. - The company’s sales volume of pure electric powertrain systems decreased by 51.43% to 14,319 units in 2018[80]. - The company reported a significant increase in financial expenses by 91.79% to ¥27,505,761.48, attributed to higher interest expenses on short-term loans[88]. - The company reported a negative net cash flow from operating activities, with increasing accounts receivable posing a risk of overdue payments and bad debts[125]. Assets and Liabilities - The total assets at the end of 2018 were approximately ¥2.51 billion, an increase of 42.26% from ¥1.76 billion at the end of 2017[16]. - The net assets attributable to shareholders at the end of 2018 were approximately ¥1.13 billion, up 64.22% from ¥688.76 million at the end of 2017[16]. - The company’s total assets included accounts receivable of ¥1,139,438,428.65, which represented 45.43% of total assets, a decrease of 6.14% from the previous year[97]. - The company’s cash and cash equivalents increased by 177.90% to ¥97,906,495.67, compared to a decrease of ¥125,682,621.02 in 2017[92]. - The total investment cash outflow rose by 149.85% to ¥556,186,585.60, mainly due to the purchase of bank wealth management products[92]. - The company has restricted assets totaling CNY 296,846,536.55, including cash of CNY 129,914,885.81 due to bank acceptance bill guarantees and bank loan pledges[98]. Research and Development - The company specializes in the R&D, production, and sales of electric vehicle powertrain systems, aiming to become a leader in the new energy vehicle power system sector[26]. - The company emphasizes R&D capabilities and has a stable long-term order acquisition model due to high customer retention[32]. - The company has successfully developed multiple core technologies in the field of new energy vehicle powertrains, including original innovations in vehicle control systems and integrated power systems[40]. - The company’s R&D capabilities are highlighted by a range of patents, including a vehicle control system (ZL 2015109013637) and a dual-motor control system (ZL 2016214226900)[40]. - The company is committed to continuous investment in R&D to maintain core competitiveness and improve product innovation[119]. - The company has established a strict decision-making mechanism for R&D projects, focusing on market demand and technical feasibility[128]. Market and Sales Strategy - The company is actively expanding its product application areas and developing powertrain systems for new energy passenger vehicles, currently in the verification stage[27]. - The sales strategy focuses on direct sales, with pricing based on production costs plus a profit margin, allowing for flexibility in response to market changes[37]. - The company is actively researching and expanding its market presence based on local policies and industry development characteristics across various cities[67]. - The company plans to enhance its marketing capabilities and service levels to increase market share, particularly for star products and system solutions[119]. - The company aims to strengthen its position in the new energy vehicle power system sector by focusing on core technologies such as integrated power system technology and energy management systems[118]. Risks and Challenges - The company faces potential risks as outlined in the future development outlook section of the report[4]. - The company faces risks related to policy changes, market dependence on major clients, and fluctuations in raw material prices, which could adversely affect operations[120][122][123]. - The company recognizes the seasonal nature of its business, with higher sales typically occurring in the second half of the year, particularly in Q4 due to government subsidy distributions[126]. - The company is facing management risks due to the increasing complexity of its organizational structure and management system since its listing[127]. Corporate Governance and Compliance - The company has not engaged in any investor relations activities during the reporting period[130]. - The company has not issued any non-standard audit reports for the recent period, indicating compliance with financial regulations[148]. - The company has not engaged in any related party transactions during the reporting period[158]. - The company has not experienced any major litigation or arbitration matters during the reporting period[155]. - The company has established a robust supply chain management system to ensure fair and orderly supplier evaluations, maintaining long-term strategic partnerships with multiple suppliers[180]. Future Outlook - The company expects a revenue growth of 25% for the upcoming fiscal year, projecting a total revenue of 1.875 billion RMB[140]. - The company is exploring market expansion opportunities, particularly in the Asia-Pacific region, aiming for a market share increase of 5% by the end of 2019[174]. - The company plans to ensure smooth achievement of its 2019 operational goals and maintain liquidity, which is the reason for not distributing profits in 2018[136]. - The company is committed to sustainability, with a goal to reduce carbon emissions by 15% over the next three years through innovative practices[174].

Financial Performance - Total revenue for Q1 2019 was ¥5,751,995.56, a decrease of 86.97% compared to ¥44,141,859.10 in the same period last year[7] - Net profit attributable to shareholders was -¥16,033,138.54, representing a decline of 60.91% from -¥9,963,962.02 year-on-year[7] - The net cash flow from operating activities was -¥184,842,270.38, a significant drop of 331.44% compared to -¥42,842,653.03 in the previous year[7] - Basic earnings per share were -¥0.20, a decrease of 17.65% compared to -¥0.170 in the same period last year[7] - The total comprehensive income for Q1 2019 was CNY -16,033,138.54, which is a decline from CNY -9,963,962.02 in the previous year[41] - The operating profit for Q1 2019 was a loss of CNY 15,653,614.53, compared to a loss of CNY 10,476,686.89 in the same period last year, indicating a worsening performance[40] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,531,873,258.85, reflecting a slight increase of 0.95% from ¥2,507,959,964.65 at the end of the previous year[7] - The total liabilities as of March 31, 2019, were CNY 1,416,798,446.97, compared to CNY 1,376,852,014.23 at the end of 2018, representing an increase of about 2.90%[32] - The total equity attributable to shareholders decreased to CNY 1,115,074,811.88 from CNY 1,131,107,950.42, indicating a decline of approximately 1.42%[32] - The total assets as of March 31, 2019, were CNY 2,213,063,079.84, down from CNY 2,278,202,086.53, representing a decrease of approximately 2.86%[37] Cash Flow - As of March 31, 2019, the company's cash and cash equivalents amounted to ¥316,367,763.43, a decrease from ¥334,867,467.15 at the end of 2018[29] - The company's short-term borrowings increased to ¥601,469,041.43 from ¥437,404,420.94 at the end of 2018, representing a rise of approximately 37.5%[30] - The company's cash flow from operating activities was impacted by a total outflow of 326,226,003.51 CNY, compared to 170,628,490.05 CNY in the previous period, highlighting increased operational costs[52] - Cash inflow from financing activities amounted to 208,600,000.00 CNY, with a net cash flow of 151,496,305.49 CNY after accounting for outflows[53] Government Subsidies and Investments - The company received government subsidies totaling ¥8,957,688.06 during the reporting period, which positively impacted the Q1 performance[8] - The company has invested CNY 752.24 million of the raised funds in Q1 2019, with a cumulative investment of CNY 13,707.35 million[20] - The production base for the new energy vehicle power system has a planned investment of CNY 30 million, with 38.45% of the investment completed by the end of Q1 2019[20] - The R&D center for new energy vehicle power systems has a planned investment of CNY 12.11335 million, with 17.92% of the investment completed[20] Research and Development - Research and development expenses for Q1 2019 were CNY 10,502,916.61, up from CNY 9,178,230.26 in the previous period, reflecting an increase of about 14.4%[38] - Research and development expenses for Q1 2019 were CNY 7,632,627.06, slightly lower than CNY 7,715,059.72 in the previous year[43] Customer and Supplier Concentration - The top five customers accounted for CNY 4,781,870.53 in sales, representing 83.13% of the annual total sales[16] - The largest customer contributed CNY 2,029,262.74, which is 35.28% of the annual sales total[16] - The top five suppliers accounted for CNY 4,308,346.41 in purchases, making up 40.70% of the annual total purchases[16] Operational Adjustments - The company is actively adjusting product structures in response to the delayed release of national subsidies for new energy vehicles, which has affected market performance[14] - The company plans to continue enhancing capacity, market expansion, and quality management as part of its annual operational plan[16] - The company is actively adjusting product structures in response to current industry conditions[15] Miscellaneous - There were no significant changes in the company's core technology team or major suppliers during the reporting period[15] - The company has no reported violations regarding external guarantees or non-operating fund occupation by controlling shareholders during the reporting period[23][24] - The company has not undergone an audit for the first quarter report[60]

Financial Performance - The company's operating revenue for 2018 was ¥493,313,208.68, a decrease of 45.19% compared to ¥900,068,896.43 in 2017[16] - The net profit attributable to shareholders for 2018 was ¥21,211,842.35, down 77.50% from ¥94,257,068.33 in 2017[16] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥40,231,945.13, a decline of 150.48% compared to ¥79,704,422.37 in 2017[16] - Basic earnings per share for 2018 were ¥0.30, down 81.25% from ¥1.60 in 2017[16] - The total revenue for the year was 493,313,208.68 CNY, with a significant increase in the second quarter to 352,752,660.99 CNY[17] - The net profit attributable to shareholders was 18,473,601.64 CNY in Q4, showing a recovery from a loss of 9,963,962.02 CNY in Q1[17] - The net cash flow from operating activities turned positive in Q4 at 211,204,109.83 CNY, after negative cash flows in the first three quarters[17] - The gross profit margin for the new energy vehicle industry was 35.14%, with a decrease of 8.38% compared to the previous year[75] - The company reported a significant increase in inventory levels, with a stock of 4,826 units, up 335.56% from 1,108 units in the previous year[78] - The total operating cost for the new energy vehicle sector was CNY 318,252,932.62 in 2018, a decrease of 51.70% from CNY 658,865,833.22 in 2017[80] Assets and Liabilities - The total assets at the end of 2018 were ¥2,507,959,964.65, an increase of 42.26% from ¥1,762,898,731.95 at the end of 2017[16] - The net assets attributable to shareholders at the end of 2018 were ¥1,131,107,950.42, up 64.22% from ¥688,762,575.45 at the end of 2017[16] - The company's total assets included CNY 1,139,438,428.65 in accounts receivable, which accounted for 45.43% of total assets, a decrease of 6.14% from the previous year[95] - As of December 31, 2018, the company had restricted assets totaling CNY 296,846,536.55, primarily due to bank acceptance bill guarantees and loan pledges[96] - The company reported a total investment of CNY 30,000,000 during the reporting period, representing a significant increase of 316.46% compared to the previous year's investment of CNY 133,492,900[97] Research and Development - The company emphasizes R&D capabilities, with a focus on new technologies and products, including hydrogen fuel powertrains[28] - The company has successfully developed multiple core technologies in the field of new energy vehicle powertrains, including vehicle control systems and integrated power systems[38] - The company has a total of 21 major patents related to electric vehicle systems, showcasing its strong R&D capabilities[38] - The company is committed to increasing R&D investment to maintain its core competitiveness and innovate its product offerings[117] - The company aims to strengthen partnerships with universities to facilitate the conversion of R&D results into marketable products[127] Market Strategy and Expansion - The company is focused on developing electric powertrain systems for various vehicle types, including buses, logistics vehicles, and passenger cars[24][25] - The company aims to expand its product application areas, particularly in the electric passenger vehicle sector, which is currently in the verification stage[25][28] - The company has established a "three vertical and three horizontal" product system to enhance its market presence in the electric vehicle sector[26][27] - The company is actively pursuing innovations in automatic transmission technologies, with multiple patents filed for new designs and control methods[39] - The company plans to enhance its marketing capabilities and service levels to increase market share, particularly for its star products and system solutions[117] Risks and Challenges - The company faces potential risks as outlined in the future development outlook section of the report[4] - The company faces risks from policy changes, market demand fluctuations, and reliance on a concentrated customer base, which could adversely affect operations[118][120] - The company recognized the seasonal nature of its business, with higher sales expected in the second half of the year, particularly in Q4 due to government subsidy policies[124] - The company faced challenges due to changes in new energy vehicle subsidy policies and technical requirements, impacting short-term demand for its products[78] Corporate Governance and Compliance - The company has a robust internal control system and governance structure to safeguard the interests of minority shareholders[178] - The company has not reported any non-standard audit reports for the current period[146] - The company has adhered to its commitments regarding the circulation restrictions and voluntary lock-up of shares[143] - The company has not engaged in any entrusted loans during the reporting period, indicating a conservative financial strategy[176] Shareholder Information - The total number of shareholders at the end of the reporting period was 14,660, with the largest shareholder, Li Zhanjiang, holding 28.36% of the shares[194] - Li Zhanjiang directly holds 22,260,154 shares and indirectly holds an additional 5,310,000 shares through related entities, totaling 37.93% of the company's shares[195] - The controlling shareholder of the company is Li Zhanjiang, who holds the position of Chairman and General Manager[197] - The actual controller is also Li Zhanjiang, with no changes in control reported during the reporting period[198] Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% based on new product launches and market expansion strategies[138] - The company aims to strengthen its position in the new energy vehicle key components sector, focusing on integrated power system technology and energy management systems[116] - The company plans to expand its market presence in Southeast Asia, targeting a market share increase of 15% by the end of 2019[174]

Financial Performance - Total revenue for Q1 2019 was ¥5,751,995.56, a decrease of 86.97% compared to ¥44,141,859.10 in the same period last year[7] - Net profit attributable to shareholders was -¥16,033,138.54, representing a 60.91% increase in losses compared to -¥9,963,962.02 in the previous year[7] - Basic earnings per share were -¥0.20, a 17.65% increase in losses compared to -¥0.170 in the same period last year[7] - The operating profit for the quarter was a loss of CNY 15,653,614.53, compared to a loss of CNY 10,476,686.89 in the same period last year, indicating a worsening performance[40] - The total comprehensive income for the quarter was CNY -16,033,138.54, which is a decline from CNY -9,963,962.02 in the same quarter last year[41] Cash Flow - The net cash flow from operating activities was -¥184,842,270.38, an increase in negative cash flow of 331.44% compared to -¥42,842,653.03 last year[7] - The cash flow from operating activities showed a significant decrease, with cash received from sales dropping to CNY 8,224,424.21 from CNY 76,788,090.82 in the previous year[47] - The net cash flow from operating activities was -149,016,947.28 CNY, compared to 6,862,493.36 CNY in the previous period, indicating a significant decline in operational performance[52] - Operating cash inflows totaled 177,209,056.23 CNY, while cash outflows were 326,226,003.51 CNY, leading to a negative cash flow from operations[52] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,531,873,258.85, a 0.95% increase from ¥2,507,959,964.65 at the end of the previous year[7] - The total liabilities increased, with short-term borrowings rising to ¥601,469,041.43 from ¥437,404,420.94 at the end of 2018[30] - The total liabilities as of March 31, 2019, were CNY 1,416,798,446.97, compared to CNY 1,376,852,014.23 at the end of 2018, indicating an increase of about 2.90%[32] - The total equity attributable to shareholders decreased to CNY 1,115,074,811.88 from CNY 1,131,107,950.42, reflecting a decline of approximately 1.42%[32] Government Subsidies - The company received government subsidies totaling ¥8,957,688.06 during the reporting period, which positively impacted Q1 performance[8] - In Q1 2019, the company received government subsidies totaling CNY 8.9577 million, positively impacting its performance[15] Research and Development - Research and development expenses for Q1 2019 were CNY 10,502,916.61, up from CNY 9,178,230.26 in the previous period, representing an increase of about 14.4%[38] - The R&D center for new energy vehicle power systems has received CNY 2,171.1 million, which is 17.92% of the planned investment[20] Customer and Supplier Concentration - The top five customers accounted for CNY 4,781,870.53 in sales, representing 83.13% of the annual total sales[16] - The largest customer contributed CNY 2,029,262.74, which is 35.28% of the annual sales total[16] - The top five suppliers accounted for CNY 4,308,346.41 in purchases, making up 40.70% of the annual total purchases[16] Investment Activities - The company has invested CNY 752.24 million of the raised funds in Q1 2019, with a cumulative investment of CNY 13,707.35 million[20] - The production base for the new energy vehicle power system has seen a cumulative investment of CNY 11,536.2 million, achieving 38.45% of the planned investment[20] Operational Strategy - The company is actively adjusting product structures in response to the slowdown in the overall market performance due to the delayed release of national subsidies for new energy vehicles[14] - The company plans to continue enhancing capacity, market expansion, and quality management as part of its annual operational strategy[16] Financial Management - The company reported a total of ¥288,665,125.16 in unused raised funds and interest, which includes ¥50,000,000.00 in structured deposits and ¥216,000,000.00 in temporarily supplemented working capital[22] - The company utilized ¥21,600,000.00 of idle raised funds to temporarily supplement working capital as of March 31, 2019[22] - The company plans to use part of the idle raised funds, up to ¥216,000,000.00, for cash management in safe and liquid financial products[22] Miscellaneous - There were no significant changes in the company's core technology team or major suppliers during the reporting period[15] - The company has not provided specific guidance for future performance or new product developments in the current report[40] - The company has not undergone an audit for the first quarter report[60]