Financial Performance - The company's operating revenue for Q1 2021 was ¥200,234,692.42, representing a 283.22% increase compared to ¥52,250,097.44 in the same period last year[7]. - The net profit attributable to shareholders was ¥3,873,467.50, a significant turnaround from a loss of ¥14,916,594.02 in the previous year, marking a 125.97% improvement[7]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥454,550.64, compared to a loss of ¥18,944,106.62 last year, reflecting a 102.40% increase[7]. - The basic earnings per share increased to ¥0.03 from a loss of ¥0.13, showing a 123.08% improvement[7]. - The company reported a total profit of ¥923,548.21, up 106.09% year-on-year, attributed to increased revenue and gross margin[17]. - The company's operating revenue reached ¥200,234,692.42, a year-on-year increase of 283.22% driven by a significant recovery in domestic electric vehicle sales[16]. - Net profit for the period was ¥3,873,467.50, representing a year-on-year increase of 125.97%, with a notable turnaround from a loss in the previous year[17]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,557,734,088.35, up 9.89% from ¥1,417,485,380.83 at the end of the previous year[7]. - The net assets attributable to shareholders increased to ¥828,659,766.93, a rise of 1.76% from ¥814,328,289.37 at the end of the previous year[7]. - The company's total liabilities rose to ¥729,074,321.42 from ¥603,157,091.46, an increase of approximately 20.9%, which may raise concerns about leverage[42]. - The company's total liabilities increased significantly, with lease liabilities reaching ¥99,570,165.89 due to the first-time application of new leasing accounting standards[15]. - The company's total equity remained stable at ¥814,328,289.37, indicating no change in the equity position despite the increase in total liabilities[65]. Cash Flow - The net cash flow from operating activities was negative at -¥37,736,539.21, worsening by 71.15% compared to -¥22,049,227.41 in the same period last year[7]. - The company’s cash flow from operating activities decreased by 37.90% to ¥110,084,764.73, mainly due to reduced cash collections[18]. - The company’s cash inflow from investment activities was ¥180,960,185.47 in Q1 2021, compared to ¥50,225,756.16 in Q1 2020, indicating a strong growth in investment activities[61]. - The company reported cash inflow from investment activities of CNY 180,998,185.47, significantly higher than CNY 50,225,756.16 in the previous period[57]. - The total cash and cash equivalents at the end of Q1 2021 were ¥47,732,287.76, down from ¥69,254,769.45 at the end of Q1 2020, reflecting a decrease of approximately 30.9% year-over-year[61]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,124[11]. - The largest shareholder, Wu Renhua, holds 30.77% of the shares, amounting to 35,259,533 shares, with 2,350,000 shares pledged[11]. Risks and Challenges - The company faces risks from a 20% reduction in new energy vehicle subsidies in 2021, which may impact its operational performance if it cannot adapt to policy changes[22]. - The global semiconductor shortage may negatively affect the automotive industry, potentially leading to reduced production and impacting the company's performance[23]. - The company is at risk of increased accounts receivable due to the financial difficulties faced by some of its long-term customers in the new energy vehicle sector[26]. - The company is exposed to raw material price fluctuations and supply chain disruptions, particularly due to the ongoing global pandemic and semiconductor shortages[27]. - The decline in government subsidies may lead to reduced sales prices for vehicle-mounted power products, impacting the company's profitability if it cannot manage costs effectively[28]. - The company's gross margin is expected to decline due to factors such as the reduction of national subsidies for new energy vehicles and price pressure from automakers, which may lead to performance risks if not addressed effectively[29]. Strategic Focus - The company aims to enhance its core competitiveness by focusing on strategic customers and expanding its business in the new energy vehicle and hydrogen fuel cell sectors[21]. - The company plans to continue focusing on market expansion and new product development as part of its future strategy[54]. - The company maintained strong relationships with leading domestic and international automakers, contributing to a substantial increase in sales of its electric vehicle power supply products[20]. Technology and Innovation - The company has developed multiple proprietary technologies and holds several patents, which are crucial for maintaining its competitive edge in the rapidly evolving market[24]. - The company successfully delivered its first batch of hydrogen energy and fuel cell products, marking a significant milestone in its technology development[20]. Inventory and Receivables - Accounts receivable increased by ¥84,014,876.74, a rise of 37.29%, primarily due to higher revenue during the reporting period[15]. - Accounts receivable increased to ¥309,303,567.37 from ¥225,288,690.63, reflecting a 37.2% rise, which may indicate growing sales but also potential collection risks[39]. - Inventory decreased to ¥248,138,328.05 from ¥263,237,053.87, a reduction of approximately 5.7%, suggesting improved inventory management[39]. - The company maintained a stable level of receivables, with accounts receivable at ¥225,288,690.63 as of December 31, 2020, showing effective credit management[64]. - The company’s inventory stood at ¥263,237,053.87, indicating a stable inventory management strategy amidst market fluctuations[64]. Legal and Compliance - The company has no reported violations regarding external guarantees or non-operating fund occupation by major shareholders during the reporting period[34][36]. - The company is in the process of preparing a new litigation strategy against suppliers for quality issues, indicating ongoing legal challenges[30].

Financial Performance - In 2020, the company's product sales volume decreased by 48.09%, and operating revenue fell by 40.70% year-on-year[4]. - The company's operating revenue for 2020 was ¥353,696,960.31, a decrease of 40.70% compared to ¥596,468,911.96 in 2019[21]. - The net profit attributable to shareholders was -¥284,780,040.29, representing a decline of 1,153.13% from a profit of ¥27,041,348.98 in 2019[21]. - The net cash flow from operating activities was -¥73,193,780.45, which is a 48.29% increase in cash outflow compared to -¥49,358,437.64 in 2019[21]. - The total assets at the end of 2020 were ¥1,417,485,380.83, down 7.64% from ¥1,534,802,750.85 at the end of 2019[21]. - The net assets attributable to shareholders decreased by 25.80% to ¥814,328,289.37 from ¥1,097,543,208.97 in 2019[21]. - The company reported a basic and diluted earnings per share of -¥2.49, a decrease of 1,137.50% from ¥0.24 in 2019[21]. - The company reported a net loss of CNY 284.78 million for the year 2020, with a parent company net loss of CNY 264.34 million[140]. - The total distributable profit at the end of 2020 was CNY 75.08 million, with no cash dividends or stock bonuses proposed for the year[141]. Research and Development - The total amount invested in R&D during 2020 was RMB 103.269 million, accounting for 29.20% of the total operating revenue[6]. - The company invested CNY 103.27 million in R&D during the reporting period, accounting for 29.20% of total revenue, to support its "brand upward" strategy and expand into global supply chains[57]. - The company has developed a range of high-power electric power electronic products, including vehicle-mounted power supply series products and hydrogen fuel cell products, marking a significant expansion into high-end equipment manufacturing[36]. - The company holds 25 invention patents, 331 utility model patents, and 32 design patents, indicating a strong R&D capability and industry leadership in intellectual property[48]. - The company’s R&D facilities can support up to 40 new technology platforms or 160 automotive component projects simultaneously, enhancing its innovation capabilities[63]. Market and Industry Trends - The new energy vehicle industry in China has a penetration rate of only 5.4%, indicating significant future growth potential[6]. - By 2025, it is projected that new energy vehicles will account for approximately 20% of total new car sales in China, which will positively impact the demand for the company's products[43]. - The company is positioned to benefit from the anticipated growth in the new energy vehicle market, as each vehicle requires a vehicle-mounted power supply and fuel cell products[43]. - In 2020, the production and sales of new energy vehicles in China reached 1.366 million units, with a year-on-year growth of 7.5% and 10.9% respectively, indicating a growing market for the company's products[40]. Operational Challenges - The comprehensive capacity utilization rate for the year was only 34.58%, leading to a significant increase in product cost allocation[4]. - The company faced significant challenges due to intensified competition and policy changes in the electric vehicle market, leading to increased pressure on customer sales and profit margins[56]. - The company faced challenges due to the decline in new energy vehicle subsidies and increased competition from international brands, impacting order volumes and production[76]. - The company is facing risks from raw material price fluctuations and supply shortages, particularly due to the ongoing global chip supply crisis, which could impact production capacity[135]. - The decline in government subsidies for new energy vehicles may lead to reduced sales prices for vehicle-mounted power products, affecting the company's profitability if it cannot adapt quickly[136]. Strategic Focus - The company plans to focus on three business segments in 2021: the new energy vehicle sector, hydrogen energy and fuel cell business, and high-end equipment manufacturing[9]. - The company is enhancing accounts receivable management to mitigate risks associated with customer creditworthiness, especially as some clients face financial difficulties due to industry restructuring[134]. - The company plans to enhance its hydrogen and fuel cell business and expand into high-end equipment manufacturing as part of its growth strategy[96]. - The company has established ongoing cooperation with major automotive manufacturers such as Geely, BYD, and Xpeng, focusing on the new energy vehicle sector[127]. Financial Management - The company will not distribute cash dividends, issue bonus shares, or increase share capital from reserves for the year[10]. - The company has committed to ensuring that all related party transactions comply with legal and internal regulations to prevent improper benefit transfers[153]. - The company has a commitment from its controlling shareholder to cover costs related to the forced removal of leased properties if necessary[153]. - The company has established a performance evaluation system for its restricted stock incentive plan, with a maximum release ratio of 100% based on performance scores[153]. Corporate Governance and Compliance - The company has established measures to protect its interests against potential competitive actions from related parties[151]. - The company emphasizes the importance of transparency and accountability in its commitments to investors[150]. - The report highlights the company's proactive approach to investor protection and transparency in its financial disclosures[149]. - The company has outlined legal consequences and civil liability for failing to fulfill commitments made in the prospectus, with measures in place to address any breaches[149]. Future Outlook - The company plans to increase its shareholding by 20% within six months after the triggering of the obligation, with the purchase price not exceeding 120% of the net asset value per share[146]. - The company aims to become a global leader in high-power power electronics energy conversion system solutions, focusing on strategic customers and quality projects[124]. - The company plans to propose supplementary or alternative commitments to safeguard the interests of the company and its investors[150].

Financial Performance - Operating revenue for the reporting period was CNY 110,513,301.21, an increase of 30.32% compared to the same period last year[7] - Net profit attributable to shareholders of the listed company was a loss of CNY 33,846,020.96, a decrease of 3,045.31% year-on-year[7] - Basic earnings per share were CNY -0.29, a decrease of 2,800.00% year-on-year[7] - The total operating revenue for the year-to-date was CNY 225,755,686.89, down from CNY 426,421,348.64 in the previous year, reflecting a decline in overall business performance[47] - The net profit for the third quarter was a loss of ¥132,008,204.67, compared to a profit of ¥21,413,176.30 in the previous year, marking a significant decline[49] - The company's total comprehensive income for the third quarter was a loss of ¥132,008,204.67, compared to a profit of ¥21,413,176.30 in the previous year[49] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,452,082,054.91, a decrease of 5.39% compared to the end of the previous year[7] - The total liabilities were CNY 488,885,397.35, compared to CNY 434,743,695.41 in the previous year, reflecting an increase in financial obligations[37] - The owner's equity totaled CNY 976,360,185.54, down from CNY 1,104,167,690.58 at the end of 2019, indicating a decline in shareholder value[37] - The company reported a decrease in cash and cash equivalents to CNY 125,779,552.36 from CNY 155,580,730.24, indicating a reduction in liquidity[34] - The accounts receivable decreased to CNY 267,377,645.77 from CNY 358,660,577.43, suggesting improved collection efforts or reduced sales[34] Cash Flow - The net cash flow from operating activities was a negative CNY 85,777,270.25, an increase of 23.57% compared to the same period last year[7] - Cash flow from operating activities showed a net outflow of -¥127,875,412.70, worsening by 33.31% compared to the previous period[18] - Cash inflow from operating activities was 487,702,144.43 CNY, down from 839,570,495.81 CNY year-over-year, reflecting a decrease of approximately 42%[56] - Cash outflow from operating activities totaled 615,577,557.13 CNY, compared to 935,491,209.81 CNY in the previous year, a reduction of about 34%[56] Shareholder Information - Net assets attributable to shareholders of the listed company were CNY 962,438,978.11, down 12.31% year-on-year[7] - The total number of ordinary shareholders at the end of the reporting period was 15,083[11] - The largest shareholder, Wu Renhua, holds 30.79% of the shares, with 2,350,000 shares pledged[11] Research and Development - Research and development expenses rose by 38.18% to ¥51,062,213.77, reflecting increased investment in R&D[16] - Research and development expenses reached CNY 22,041,493.65, compared to CNY 11,756,394.19 in the same period last year, showing a 87.5% increase[40] Legal and Regulatory Issues - The company has initiated legal action against suppliers for compensation related to quality issues, indicating proactive measures to mitigate financial losses[22] - The company is facing significant challenges from the COVID-19 pandemic and increased competition from joint ventures and foreign brands in the new energy vehicle market[24] Financing Activities - The company reported non-operating income of CNY 10,770,437.36 from government subsidies[8] - The company received a total of CNY 235,000,000.00 in cash inflow from financing activities, reflecting a 100% increase due to new short-term borrowings[22] - The company plans to raise up to CNY 348.91 million through a private placement of shares, with the number of shares not exceeding 20% of the total share capital prior to the issuance[20]

Financial Performance - The company's operating revenue for the reporting period was ¥115,242,385.68, a decrease of 66.27% compared to ¥341,617,205.51 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was -¥98,162,183.71, representing a decline of 536.48% from ¥22,489,253.82 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was -¥107,491,582.60, a decrease of 953.88% compared to ¥12,588,659.31 in the same period last year[18]. - The net cash flow from operating activities was -¥42,098,142.45, down 358.08% from ¥16,311,945.61 in the previous year[18]. - The basic earnings per share were -¥0.860, a decline of 530.00% from ¥0.200 in the same period last year[19]. - The total assets at the end of the reporting period were ¥1,413,182,985.51, a decrease of 7.92% from ¥1,534,802,750.85 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company were ¥996,518,216.69, down 9.20% from ¥1,097,543,208.97 at the end of the previous year[19]. - The weighted average return on net assets was -9.36%, a decrease of 11.40% compared to 2.04% in the previous year[19]. - The company reported a significant decrease in accounts receivable, which fell to ¥259,380,267.82 from ¥523,775,312.37, a decrease of 11.33%[75]. - The company reported a net loss for the first half of 2020 amounted to 98,162,200 yuan, reflecting the impact of the COVID-19 pandemic on operations[100]. Research and Development - In the first half of 2020, the company's R&D investment reached ¥40.58 million, accounting for 35.21% of its revenue[48]. - R&D investment amounted to CNY 40,578,200, an increase of 10.40% compared to the previous year, maintaining a focus on technological leadership[62]. - The company has a strong R&D team and continues to upgrade its products at least once a year[48]. - The company aims to enhance its technological capabilities and maintain a competitive edge by increasing investment in product research and development[101]. - The company has accumulated multiple independent intellectual property rights and patents, which are crucial for maintaining its competitive position in the market[102]. Market and Sales - The company specializes in the research, production, and sales of on-board power supplies for new energy vehicles, providing comprehensive solutions including on-board DC/DC converters and chargers[27]. - The company primarily operates on a direct sales model, focusing on custom solutions for new energy vehicle manufacturers and their integration suppliers[35]. - The sales process includes annual framework contracts with clients, which do not specify exact supply quantities but establish a supply relationship[35]. - The company’s product sales were 41,300 units, a decrease of 70.94% year-on-year, with a vehicle matching rate of 9.85%[61]. - The company has established long-term stable partnerships with major domestic and international automakers, including BAIC New Energy and BYD[53]. Operational Challenges - The company has faced increased pressure on cost and product safety, requiring higher cost-performance ratios from component suppliers[46]. - The company is exposed to risks from fluctuations in raw material prices and supply shortages, exacerbated by the COVID-19 pandemic and ongoing trade tensions, which could negatively impact production costs[105]. - The decline in sales prices of vehicle power products is anticipated due to reduced government subsidies, which may lead to decreased profit margins if the company fails to adapt to market changes[106]. - The overall gross margin in the industry is expected to decline due to factors such as subsidy reductions and cost pressures from manufacturers, posing a risk to the company's performance if it cannot innovate and expand its customer base[107]. - The company faces increased risks in accounts receivable collection due to intensified competition in the electric vehicle industry and the impact of the COVID-19 pandemic, which may affect cash flow and increase working capital pressure[104]. Corporate Governance and Strategy - The company plans not to distribute cash dividends or issue bonus shares[5]. - All directors attended the board meeting to review the report, ensuring the accuracy and completeness of the financial report[4]. - The company has established a sound corporate governance system and is focused on talent management to prevent key personnel loss[104]. - The company continues to implement a "brand upward" strategy, focusing on high-quality customer resources while reducing low-profit orders[60]. - The company plans to adjust its operational strategies in response to changes in industry policies, particularly regarding subsidies for new energy vehicles, which are set to decline by 10%, 20%, and 30% over the next three years[98]. Financial Management - The company reported a significant increase in short-term borrowings, rising to ¥123,883,000.00 from ¥55,422,530.00, an increase of 5.63%[75]. - The company’s cash and cash equivalents increased by 33.38% to ¥35,661,448.98, primarily due to new borrowings[69]. - The company recorded an asset impairment loss of -¥22,999,002.15, representing 20.83% of total profit, primarily due to inventory write-downs[72]. - The total amount of raised funds is RMB 306.30 million, with RMB 29.68 million utilized by the end of the reporting period[84]. - The company has not changed the purpose of the raised funds, maintaining a 0.00% change ratio[84]. Legal and Compliance - The company has no significant litigation or arbitration matters during the reporting period, which may reflect a stable legal environment[118]. - The company is actively monitoring changes in tax incentives to mitigate potential risks associated with policy adjustments[109]. - The company has not reported any penalties or rectifications during the reporting period[120]. Shareholder Information - The largest shareholder, Wu Renhua, holds 30.79% of the shares, totaling 35,259,533 shares, with 2,350,000 shares pledged[145]. - The second-largest shareholder, Peng Shengwen, holds 5.00% of the shares, totaling 5,725,480 shares[145]. - The company has 12,942 total shareholders at the end of the reporting period[145]. - There were no changes in the controlling shareholder or actual controller during the reporting period[147].

Financial Performance - Total revenue for Q1 2020 was ¥52,250,097.44, a decrease of 67.25% compared to ¥159,521,414.86 in the same period last year[7] - Net profit attributable to shareholders was -¥14,916,594.02, representing a decline of 195.50% from ¥15,619,295.86 year-on-year[7] - The net cash flow from operating activities was -¥22,049,227.41, a decrease of 203.31% compared to ¥21,341,992.08 in the previous year[7] - Basic and diluted earnings per share were both -¥0.13, down 192.86% from ¥0.14 in the same period last year[7] - Operating revenue fell by 67.25% to ¥52,250,097.44, primarily due to the impact of the pandemic on income[17] - Net profit decreased by 195.50% to -¥14,916,594.02, attributed to a decline in revenue and increased impairment losses[17] - The company reported a gross profit margin decline, with a gross profit of CNY -20,850,198.39 for the current period[54] - Total comprehensive income for the first quarter was -12,539,314.91 CNY, compared to 13,407,273.01 CNY in the previous period[60] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,393,259,225.45, a decrease of 9.22% from ¥1,534,802,750.85 at the end of the previous year[7] - Total current liabilities decreased by 31.35% to ¥283,465,213.91, mainly due to reductions in accounts payable and taxes payable[15] - The total liabilities decreased to CNY 310,632,610.50 from CNY 437,259,541.88, indicating a decline of approximately 29%[47] - The total equity attributable to shareholders decreased to CNY 1,082,626,614.95 from CNY 1,097,543,208.97, a decline of about 1.4%[48] Cash Flow - Cash and cash equivalents decreased by 43.01% to ¥73,323,169.05, reflecting a reduction in net cash inflow from operating activities[18] - Cash inflow from operating activities was 177,266,090.14 CNY, down from 225,108,978.26 CNY year-over-year, representing a decrease of approximately 21.3%[62] - Net cash flow from investment activities was -14,701,314.90 CNY, compared to -1,299,330.10 CNY in the previous period[63] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 14,145[11] - The largest shareholder, Wu Renhua, holds 30.79% of the shares, amounting to 35,259,533 shares, with 2,350,000 shares pledged[11] - The company did not engage in any repurchase transactions during the reporting period[12] Market and Industry Risks - The company faces risks from market competition as new entrants increase in the electric vehicle power supply industry[23] - The company is at risk of increased difficulty in collecting accounts receivable due to the impact of the COVID-19 pandemic on the automotive industry[27] - The decline in government subsidies for new energy vehicles may lead to a decrease in sales prices for vehicle-mounted power supply products, impacting the company's profitability[29] - The company anticipates a potential decline in overall industry gross margin due to factors such as the reduction of national subsidies for new energy vehicles and pricing pressure from automakers[31] Investment and R&D - The company reported a total of RMB 30,629.5 million in raised funds, with RMB 977.69 million invested in the current quarter[35] - The company has invested RMB 14,144.52 million in the new energy vehicle on-board power supply industrialization project, achieving a progress rate of 95.52%[36] - Research and development expenses were CNY 13,531,728.91, slightly up from CNY 12,732,184.68 in the previous year, reflecting ongoing investment in innovation[54] - The company emphasizes its commitment to R&D and innovation to maintain competitive product margins despite market challenges[31] Other Information - The company did not report any new product launches or technological advancements during this quarter[69] - The first quarter report was not audited, indicating potential limitations in the reliability of the financial data presented[69]

Financial Performance - The company's operating revenue for 2019 was CNY 596,468,911.96, a decrease of 16.82% compared to CNY 717,061,633.99 in 2018[16] - The net profit attributable to shareholders for 2019 was CNY 27,041,348.98, down 67.21% from CNY 82,457,304.84 in the previous year[16] - Basic earnings per share decreased by 70.00% to CNY 0.24 from CNY 0.80 in 2018[16] - The total assets at the end of 2019 were CNY 1,534,802,750.85, a decrease of 11.97% from CNY 1,743,516,548.11 at the end of 2018[16] - The net profit attributable to shareholders was CNY 27,041,348.98, down 67.21% year-on-year, with basic earnings per share of CNY 0.24, a decline of 70%[48] - The company's product sales volume was 238,900 units, a decrease of 17.28% year-on-year, influenced by a decline in overall new energy vehicle sales in China[48] - The company's comprehensive gross margin for 2019 was 18.10%, a decrease of 8.65 percentage points compared to 2018, primarily influenced by raw material prices and product pricing pressures[116] Cash Flow and Investments - The net cash flow from operating activities was negative CNY 49,358,437.64, an improvement of 82.29% compared to negative CNY 278,696,429.89 in 2018[16] - The net cash flow from operating activities was CNY 21,341,992.08, a decrease of CNY 112,232,659.61 compared to the previous year[19] - The net cash flow from investment activities was ¥85,649,610.32, a substantial increase of 227.05% year-over-year[75] - The company reported a total of ¥52,067,391.35 in other income, a 188.36% increase, primarily from government subsidies and software tax refunds[78] - The company has committed to invest RMB 14,144.52 million in the new energy vehicle power supply project, with a completion rate of 93.04% as of December 31, 2019[91] Research and Development - The company’s R&D investment in 2019 amounted to approximately CNY 76.12 million, with a strong focus on upgrading new energy vehicle onboard power supply products[39] - The company holds a total of 17 invention patents, 230 utility model patents, 28 design patents, and 378 software copyrights, ranking among the top in the industry[39] - Research and development expenses amounted to ¥76.12 million, representing 12.76% of total revenue, with a focus on high-performance and integrated design products[70] - The company is involved in multiple key national and provincial research projects related to new energy vehicle technology, demonstrating its commitment to innovation[40] - The company has developed multiple proprietary technologies and holds several patents, which are crucial for maintaining a competitive edge in the rapidly evolving market[111] Market Position and Strategy - The company specializes in the research, production, and sales of on-board power supplies for new energy vehicles, including DC/DC converters and on-board chargers[26] - The company operates a direct sales model primarily targeting new energy vehicle manufacturers and their integration suppliers[32] - The company is recognized as a leading player in the on-board power supply segment of the new energy vehicle market, emphasizing continuous innovation[34] - The new energy vehicle industry in China is expected to have over 20% market share by 2025, indicating significant growth potential[35] - The company has successfully transitioned from policy-driven growth to market-driven growth in the new energy vehicle sector[35] Dividend Policy - The company plans to distribute a cash dividend of CNY 0.25 per 10 shares to all shareholders[4] - The cash dividend for 2018 was RMB 9,160,988.16, which was 11.11% of the net profit attributable to ordinary shareholders[123] - The company maintained a consistent dividend distribution policy over the past three years, with no changes to the cash dividend policy during the reporting period[121] - The company is in a growth phase and has significant capital expenditure plans, ensuring that cash dividends remain at a minimum of 20% of profits[122] - The company plans to distribute at least 10% of the annual distributable profit in cash dividends, ensuring a sustainable and stable return to shareholders[144] Risks and Challenges - The company faces risks related to accounts receivable collection, as the increasing competition in the new energy vehicle industry may affect the cash flow and working capital[113] - The company anticipates potential declines in overall industry gross margins due to the pressure from automakers to reduce component prices[116] - The company recognizes potential funding bottlenecks as a major constraint to achieving its future development plans[106] - The company is actively monitoring changes in industry policies to adjust its operational strategies and mitigate risks associated with policy shifts[108] - The company plans to strengthen its supply chain management to address risks related to raw material price fluctuations and supply shortages[114] Shareholder Structure - The total number of shares is 114,512,300, with 75% being limited shares and 25% being unrestricted shares[182] - The company has seen a reduction of 35,588,500 limited shares, resulting in a new total of 50,293,830 limited shares[182] - The total number of shares held by major shareholders includes 35,259,533 shares (30.79%) held by Wu Renhua, and 5,536,764 shares (4.84%) held by Shenzhen Qistai Technology Co., Ltd.[185] - The company has a total of 85,882,352 shares, with 50,293,837 shares released from restrictions during the reporting period[185] - The company has a total of 2,225,419 shares held by the vice chairman and general manager, Mao Liping[200] Corporate Governance - The independent directors played a crucial role in the decision-making process regarding the profit distribution plan, ensuring the protection of minority shareholders' rights[120] - The company has committed to avoiding any related party transactions unless necessary for normal business operations, ensuring compliance with regulatory standards[145] - The company’s board of directors has confirmed that all commitments made to minority shareholders have been fulfilled[146] - The company has not engaged in any significant contracts or major matters during the reporting period[171][178] - The company has not faced any penalties or rectification requirements during the reporting period[156]

Financial Performance - Operating revenue for the reporting period was CNY 84,804,143.13, down 46.61% year-on-year [7]. - Net profit attributable to shareholders was a loss of CNY 1,076,077.52, a decline of 108.91% compared to the same period last year [7]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 7,932,156.52, a decrease of 203.10% year-on-year [7]. - The basic earnings per share for the reporting period was -CNY 0.01, a drop of 110.00% compared to the same period last year [7]. - The weighted average return on net assets was -0.10%, a decrease of 114.49% year-on-year [7]. - The net profit for the third quarter of 2019 was CNY 21.41 million, a decrease of 61.65% compared to CNY 55.83 million in the same period last year [19]. - Operating income decreased by 62.34% year-on-year, resulting in an operating profit of CNY 22.29 million [19]. - The net profit for Q3 2019 was a loss of ¥1,076,077.52, compared to a profit of ¥12,072,167.47 in Q3 2018, indicating a significant decline [39]. - The net profit for Q3 2019 was CNY 1,166,074.14, compared to CNY 12,771,628.35 in the previous year, indicating a substantial decline [42]. - The total comprehensive income for Q3 2019 was CNY 23,259,399.47, a decrease of 59% from CNY 56,751,811.59 year-over-year [50]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,624,257,637.35, a decrease of 6.84% compared to the end of the previous year [7]. - The company's current assets totaled CNY 1,387,220,129.87, down from CNY 1,587,468,305.81 at the end of 2018, indicating a decline of approximately 12.6% [29]. - Total liabilities decreased to CNY 521,237,450.45 from CNY 663,853,699.96, marking a reduction of about 21.4% [30]. - The total liabilities decreased by 58.05% for short-term borrowings, amounting to CNY 23.34 million, down from CNY 55.64 million [18]. - The company's equity attributable to shareholders increased to CNY 1,103,020,186.90 from CNY 1,079,662,848.15, showing a growth of approximately 2.2% [31]. - The company's total assets decreased to ¥1,627,634,094.15 from ¥1,744,282,869.04, a reduction of 6.7% [36]. - Total liabilities decreased to ¥521,427,370.53 from ¥660,940,258.34, representing a decline of 21.1% [36]. - The total equity increased to ¥1,106,206,723.62 from ¥1,083,342,610.70, showing a growth of 2.1% [36]. Cash Flow - The net cash flow from operating activities for the year-to-date was -CNY 95,920,714.00, down 49.37% compared to the previous year [7]. - The cash flow from operating activities showed a net outflow of CNY -95,920,714.00, an improvement from CNY -189,462,645.75 in the same period last year [54]. - The net cash flow from operating activities was -90,115,168.33 CNY, compared to -189,059,216.37 CNY in the same period last year, indicating an improvement [57]. - The total cash inflow from investment activities was 759,239,239.86 CNY, up from 438,838,781.98 CNY year-over-year, resulting in a net cash flow from investment activities of 104,153,922.79 CNY [57]. - The net cash flow from financing activities was -42,140,195.79 CNY, a significant decrease from 365,260,920.93 CNY in the previous year [58]. Shareholder Information - The company reported a total of 16,507 common shareholders at the end of the reporting period [11]. - The largest shareholder, Wu Renhua, holds 30.79% of the shares, amounting to 35,259,533 shares, which are pledged [11]. - The company did not engage in any repurchase transactions during the reporting period [12]. - There were no overdue commitments from major shareholders or related parties during the reporting period [23]. Research and Development - The company's development expenditures rose by 277.31% to CNY 28.26 million, reflecting increased investment in R&D projects [18]. - Research and development expenses for Q3 2019 were ¥11,756,394.19, slightly down from ¥12,333,940.87 in the previous year [38]. - Research and development expenses for the year-to-date period were CNY 36,953,668.20, down from CNY 41,143,578.52 in the previous year [43]. Other Financial Metrics - The company's financial expenses improved significantly, with a net financial income of CNY 1.37 million compared to a financial expense of CNY 1.27 million in the previous year [19]. - The company reported a significant increase in other income to ¥14,234,870.52 from ¥7,358,278.12, marking an increase of 93.5% [38]. - The company experienced a financial expense of CNY -782,719.17 in Q3 2019, compared to CNY 1,768,656.01 in the previous year [41]. - The company's financial expenses for Q3 2019 were CNY -1,362,432.77, compared to CNY 1,276,329.56 in the same period last year [49].

Financial Performance - Total revenue for the first half of 2019 was CNY 341,617,205.51, representing a 15.69% increase compared to CNY 295,276,852.57 in the same period last year[17]. - Net profit attributable to shareholders decreased by 48.61% to CNY 22,489,253.82 from CNY 43,760,089.67 year-on-year[17]. - Net profit after deducting non-recurring gains and losses fell by 48.88% to CNY 12,588,659.31 compared to CNY 24,624,616.29 in the previous year[17]. - Basic and diluted earnings per share decreased by 58.33% to CNY 0.200 from CNY 0.480 year-on-year[17]. - The weighted average return on equity was 2.04%, down from 5.66% in the previous year, a decrease of 3.62%[17]. - The gross margin decreased by 11.64 percentage points due to price reductions in response to cost-cutting pressures from downstream manufacturers[51]. - The company reported a total comprehensive income of RMB 43,980,183.24 for the current period[181]. - The total comprehensive income for the first half of 2019 was CNY 22.09 million, down from CNY 43.98 million in the first half of 2018, indicating a decline of approximately 50%[156]. Cash Flow and Investments - The net cash flow from operating activities improved significantly to CNY 16,311,945.61, compared to a negative CNY 130,087,487.40 in the same period last year[17]. - The company reported a net increase in cash and cash equivalents of RMB 26,736,456.39, down 89.87% from RMB 263,831,075.35 in the previous year, mainly due to fundraising received last year[58]. - The operating cash flow for the first half of 2019 was CNY 16.31 million, a turnaround from a negative cash flow of CNY -130.09 million in the same period of 2018[159]. - The total cash inflow from investment activities in the first half of 2019 was CNY 382.26 million, compared to CNY 327.82 million in the first half of 2018, showing an increase of about 16.5%[159]. - The cash outflow for investment activities in the first half of 2019 was CNY 362.33 million, compared to CNY 251.71 million in the same period of 2018, reflecting an increase of approximately 43.9%[159]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,764,797,869.27, a 1.22% increase from CNY 1,743,516,548.11 at the end of the previous year[17]. - Total liabilities decreased to CNY 660,701,604.85 from CNY 663,853,699.96, indicating a reduction of about 0.3%[143]. - The company's total assets included cash and cash equivalents of RMB 177,595,372.50, accounting for 10.06% of total assets, down from 30.40% the previous year[63]. - The company reported a decrease in accounts receivable to CNY 523,775,312.37 from CNY 428,024,728.68, which is an increase of about 22.4%[140]. - The company's inventory increased to CNY 314,680,608.40 from CNY 298,684,735.36, reflecting a growth of approximately 5.3%[141]. Research and Development - Development expenditures increased by 154.34%, attributed to a rise in capitalized R&D spending during the reporting period[37]. - The company’s R&D investment reached ¥36,755,311.59 in the first half of 2019, reflecting its commitment to innovation[40]. - Research and development expenses rose by 19.51% to RMB 36,755,311.59, reflecting increased investment in R&D activities[58]. - The company has a total of 15 invention patents, 142 utility model patents, and 16 design patents in the field of electric vehicle power supplies[40]. Market and Competition - The new energy vehicle subsidy policy in China is gradually declining, leading to increased competition and pressure on component suppliers to improve cost-effectiveness[36]. - The company operates a direct sales model primarily targeting new energy vehicle manufacturers and their integration suppliers, providing customized product solutions[30]. - The company is recognized as a leading enterprise in the onboard power supply segment of the new energy vehicle market, adhering to the development philosophy of continuous innovation[32]. - The company faces risks from intensified market competition in the electric vehicle industry, necessitating continuous improvement in technology and operational efficiency to maintain competitiveness[83]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 15,604[126]. - Wu Renhua holds 30.79% of the shares, totaling 35,259,533 shares, with no changes during the reporting period[126]. - The total number of restricted shares at the end of the period was 56,176,189, with 29,706,163 shares released during the reporting period[124]. - The company did not experience any changes in its controlling shareholder or actual controller during the reporting period[128]. Corporate Governance - The financial report for the first half of 2019 was not audited, which may affect the reliability of the financial data presented[138]. - The company has not experienced any changes in its board of directors or senior management during the reporting period[133]. - The financial report was approved by the board of directors on August 28, 2019[189]. Future Outlook - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company aims to mitigate the risk of declining sales prices for onboard power products by increasing R&D efforts and improving production efficiency[84]. - The company plans to maintain product gross margin stability through technological advancements and economies of scale[85].

证券代码：300745 证券简称：欣锐科技 公告编号：2019-065 深圳欣锐科技股份有限公司 关于参加 2019 年深圳上市公司投资者网上集体接待日 活动的公告 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。 为进一步加强与投资者的互动交流工作，深圳欣锐科技股份有限公司（以下 简称"公司"）将参加由深圳上市公司协会、深圳市全景网络有限公司共同举办 的"改革创新发展 沟通互信共赢"——深圳辖区上市公司 2019 年度投资者网上 集体接待日主题活动，现将有关事项公告如下：本次集体接待日活动将在深圳市 全景网络有限公司提供的网上平台，采取网络远程的方式举行，投资者可以登录 "全景•路演天下"网站（http://rs.p5w.net/）或关注微信公众号：全景财经， 参与公司本次投资者集体接待日活动，活动时间为 2019 年 9 月 3 日 14:00 至 18:00。 届时公司的董事会秘书罗丽芳、财务总监何兴泰将通过网络文字交流形式与 投资者进行沟通。 欢迎广大投资者积极参与。 深圳欣锐科技股份有限公司 董事会 2019 年 8 月 28 日 1 ...

Financial Performance - The company's operating revenue for 2018 was CNY 717,061,633.99, representing a 46.14% increase compared to CNY 490,665,098.11 in 2017[18]. - The net profit attributable to shareholders for 2018 was CNY 82,457,304.84, a decrease of 9.88% from CNY 91,496,814.62 in 2017[18]. - The net profit after deducting non-recurring gains and losses was CNY 56,803,871.69, down 26.38% from CNY 77,157,279.00 in the previous year[18]. - The company's cash flow from operating activities was negative at CNY -278,696,429.89, a decline of 296.31% compared to CNY 141,967,104.97 in 2017[18]. - Basic earnings per share for 2018 were CNY 0.800, a decrease of 25.23% from CNY 1.070 in 2017[18]. - Total assets at the end of 2018 reached CNY 1,743,516,548.11, a 55.34% increase from CNY 1,122,388,593.40 at the end of 2017[18]. - The net assets attributable to shareholders increased by 54.22% to CNY 1,079,662,848.15 from CNY 700,071,519.19 in 2017[18]. - The weighted average return on net assets decreased to 9.01%, down 4.97 percentage points from 13.98% in 2017[18]. - The gross profit margin for the new energy vehicle sector was 26.74%, down 11.93% from the previous year[71]. - The company's comprehensive gross profit margin for 2018 was 26.74%, a decrease of 11.93 percentage points compared to 2017, primarily due to fluctuations in raw material prices, product prices, unit costs, and product structure changes[116]. Revenue and Sales - Quarterly revenue showed growth, with Q4 2018 revenue at CNY 262,950,885.84, the highest among the quarters[20]. - The company sold 288,800 units of products, representing a 41.64% increase compared to the previous year, with a stable vehicle matching rate of 21.14%[54][57]. - Revenue from on-board chargers increased by 58.15% to CNY 318,400,807.46, while revenue from on-board DC/DC converters decreased by 3.93% to CNY 109,013,521.34[71]. - The East China region accounted for 73.59% of total revenue, with a significant increase of 145.91% compared to the previous year[71]. - Sales volume of on-board power integration products surged by 163.47% to 82,768 units, reflecting strong market demand[73]. - The company reported a significant increase in international sales, which rose by 141.92% to CNY 4,240,818.77[71]. Research and Development - The company invested approximately ¥66.42 million in research and development in 2018, maintaining a strong focus on technological advancement in the new energy vehicle sector[43]. - The company holds a total of 15 invention patents, 132 utility model patents, 9 design patents, and 264 software copyrights, ranking among the top in the industry[43]. - The R&D center has been upgraded, with a focus on new technology research and product development, including a "4-2-4" core platform strategy for onboard chargers[60][61]. - The company has allocated 200 million RMB for research and development in the next fiscal year, focusing on innovative technologies[187]. - The number of R&D personnel increased to 315 in 2018, representing 25.24% of the total workforce, compared to 25.58% in 2017[80]. Market and Competition - The new energy vehicle subsidy policy is gradually declining, leading to intensified competition and a focus on cost-effectiveness among manufacturers[40]. - The company recognizes the risk of increased competition as new entrants join the vehicle-mounted power supply market, necessitating continuous improvement in technology and operational efficiency[112]. - The company plans to deepen market cooperation and expand its customer base, focusing first on domestic clients before entering international markets[57]. - The company aims to enhance its supply chain efficiency, targeting a reduction in operational costs by 10% over the next year[186]. Shareholder and Dividend Information - The company plans to distribute a cash dividend of CNY 0.80 per 10 shares to all shareholders[5]. - In 2018, the company distributed a cash dividend of RMB 0.8 per 10 shares, amounting to a total cash dividend of RMB 9,160,988.16, which represents 100% of the profit distribution total[120][123]. - The total distributable profit for the year was RMB 320,836,379.20, indicating a strong commitment to returning value to shareholders despite being in a growth phase with significant capital expenditure plans[121][122]. - The company has maintained a consistent cash dividend policy over the past three years, with the same dividend amount per share for 2017 and 2018[122]. Corporate Governance and Compliance - The company has maintained a governance structure that ensures shareholder rights and information transparency[156]. - The company has not faced any legal or regulatory violations during the reporting period, ensuring proper governance practices[198]. - The company operates independently from its controlling shareholders in terms of assets, personnel, finance, and business operations[199]. - The company has established measures to ensure compliance with commitments made during the IPO process, including potential compensation for investor losses[133]. Strategic Initiatives and Future Outlook - The company aims to become a leading provider of integrated solutions for vehicle-mounted power supplies, focusing on DC/DC converters, onboard chargers, and related products[104]. - The company plans to significantly increase production capacity for vehicle-mounted DC/DC converters and chargers to meet growing market demand, supported by fundraising for the "New Energy Vehicle Onboard Power Supply Industrialization Project"[105]. - A strategic acquisition of a local competitor is anticipated to enhance the company's technological capabilities and increase market share by 15%[185]. - The company provided a future outlook projecting a revenue growth of 25% for the next fiscal year, driven by new product launches and market expansion[186]. Employee and Management Information - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 2.6091 million[191]. - The company employed a total of 1,208 staff, with 491 in production, 403 in technical roles, and 38 in sales[192]. - The educational background of employees includes 26 with master's or doctoral degrees, 197 with bachelor's degrees, and 716 with below college education[193]. - The management team is committed to driving growth and innovation, leveraging their extensive industry experience to navigate market challenges[182].