Financial Performance - The company's operating revenue for 2019 was ¥389,193,156.62, a decrease of 15.27% compared to ¥459,337,446.21 in 2018[21]. - The net profit attributable to shareholders for 2019 was ¥90,728,693.75, down 20.72% from ¥114,434,032.26 in 2018[21]. - The net cash flow from operating activities was -¥53,622,622.19, a decline of 145.99% compared to ¥116,585,609.66 in 2018[21]. - The total assets at the end of 2019 amounted to ¥1,106,618,869.25, an increase of 47.44% from ¥750,556,711.37 at the end of 2018[21]. - The net assets attributable to shareholders increased by 72.61% to ¥967,060,828.74 at the end of 2019 from ¥560,264,134.99 at the end of 2018[21]. - The basic earnings per share for 2019 was ¥1.2097, a decrease of 36.57% from ¥1.9072 in 2018[21]. - The company reported a total of ¥11,467,210.36 in non-recurring gains and losses for 2019, compared to ¥4,369,552.64 in 2018[27]. - The company achieved operating revenue of 389.19 million yuan in 2019, a decrease of 15.27% compared to 2018's revenue of 459.34 million yuan[61]. - The revenue from seismic isolation products was 277.56 million yuan, down 25.00% from 370.09 million yuan in the previous year, while the revenue from damping products increased by 5.06% to 93.49 million yuan[61]. - Net profit for 2019 was 90.73 million yuan, a decrease of 20.72% from 114.43 million yuan in the previous year, primarily due to reduced construction area for new school and hospital projects in Yunnan Province[61]. Market Position and Competition - The company anticipates increased competition in the seismic isolation market, which may lead to a decline in gross margins and market share, and aims to enhance product quality and explore new application markets[6]. - The company acknowledges the risk of product price declines due to market competition and plans to improve processes to reduce costs and expand production scale[10]. - The company has a market share of approximately 39.21% in the national housing seismic isolation market as of 2017, with a market share of about 30.12% in the broader seismic reduction market[48]. - The company is focused on expanding its market presence and enhancing its product offerings in the seismic isolation technology sector[29]. - The company aims to increase its market share nationwide as relevant laws and regulations improve and product standards are raised[42]. Risk Management - The company faces risks from rising raw material prices, which could impact production costs and operating performance, and plans to adjust procurement cycles and increase raw material reserves[8]. - The company is addressing the risk of accounts receivable collection by enforcing credit policies and increasing collection efforts for overdue payments[9]. - The company is implementing measures to mitigate risks related to accounts receivable collection, particularly in a declining construction market[130]. - The company emphasizes the importance of risk awareness regarding forward-looking statements in the annual report, indicating that plans and forecasts may differ from actual outcomes[5]. Research and Development - The company is committed to technological innovation and will continue to recruit professionals and increase R&D efforts to shorten the time for new technologies to be applied in products[11]. - The company has established a strong R&D capability through partnerships with design institutes and has a dedicated academic workstation for innovation[51]. - The company reported a credit impairment loss of 10.78 million yuan, lower than the previous year's loss of 12.05 million yuan, indicating improved collection efforts on accounts receivable[66]. - Research and development expenses increased to 13.21 million yuan in 2019, up 15.55% from 11.43 million yuan in the previous year, reflecting a focus on enhancing product performance and developing new technologies[65]. - The company's R&D investment in 2019 amounted to ¥13,210,168.72, representing 3.39% of its operating revenue[89]. Shareholder Returns and Dividends - The company plans to distribute a cash dividend of 2.3 RMB per 10 shares (including tax) and to increase capital reserves by converting 8 shares for every 10 shares held[11]. - The cash dividend for 2019 represents 20.28% of the net profit attributable to the shareholders of the listed company, which was 90,728,693.75 CNY[143]. - The total distributable profit for the year was reported at 359,691,189.06 CNY[139]. - The company has committed to maintaining a minimum cash dividend ratio of 20% during its growth phase, despite significant capital expenditure plans[140]. - The company will consider its profitability, cash flow, development stage, and funding needs when formulating annual or interim dividend plans[149]. Corporate Governance - The company reported that all board members attended the meeting to review the annual report, ensuring the accuracy and completeness of the financial report[4]. - The company emphasizes a sustainable and long-term development strategy in its shareholder return planning, balancing short-term and long-term interests[149]. - The company has fulfilled all commitments made by its controlling shareholders and management regarding stock price stabilization measures following its IPO[145]. - The company has established a stock price stabilization plan effective for three years following its IPO, aimed at preventing the stock price from falling below the net asset value per share[147]. Social Responsibility and Community Engagement - The company donated seismic isolation technology worth a total of CNY 154,000 for the reconstruction of villages affected by the 5.9 magnitude earthquake in Yunnan[197]. - The company also contributed CNY 10,000 to the Shandong Linyi Angel International Special Education School[198]. - The company adheres to environmental protection laws and has not faced any pollution incidents or administrative penalties during the reporting period[200]. - The company emphasizes employee development through training and provides benefits such as health checks and holiday rewards[195]. Investment and Capital Management - The company has committed to invest ¥31,606.8 million in the seismic isolation product production line technology transformation, with a cumulative investment of ¥4,669.84 million, achieving 52.18% of the planned investment[108]. - The company has not yet made any actual investment in the new intelligent seismic isolation product manufacturing base project, with a project progress of 0.00%[105]. - The company has established two wholly-owned subsidiaries in October 2019, with registered capital of ¥50 million and ¥100 million respectively[82]. - The company engaged in entrusted financial management, with a total of 30.337 million RMB in bank wealth management products, sourced from both raised funds and self-owned funds[185].

Financial Performance - Operating revenue decreased by 22.61% to CNY 96,068,879.88 compared to the same period last year[8] - Net profit attributable to shareholders decreased by 26.69% to CNY 24,311,899.17 compared to the same period last year[8] - Basic earnings per share decreased by 45.02% to CNY 0.3039 compared to the same period last year[8] - Total operating revenue decreased to ¥96,068,879.88 from ¥124,141,687.48, representing a decline of approximately 22.7% year-over-year[38] - Operating profit fell to ¥29,059,361.36 compared to ¥37,668,115.74, reflecting a decline of approximately 22.9% year-over-year[39] - Net profit decreased to ¥24,311,899.17 from ¥33,163,840.18, marking a decline of around 26.7% year-over-year[40] - Total operating revenue for the third quarter was ¥289,191,174.28, a decrease of 10% compared to ¥321,467,048.50 in the same period last year[45] - Net profit for the quarter was ¥67,613,493.53, down 23% from ¥88,106,252.50 year-over-year[47] - The total profit for the quarter was ¥79,545,072.69, down from ¥103,654,443.09, a decrease of approximately 23%[47] Assets and Liabilities - Total assets increased by 45.52% to CNY 1,092,216,931.85 compared to the end of the previous year[8] - Net assets attributable to shareholders increased by 68.48% to CNY 943,945,628.52 compared to the end of the previous year[8] - Total liabilities decreased to CNY 148,271,303.33 from CNY 190,292,576.38, a reduction of about 22%[30] - Current assets totaled CNY 930,047,952.73, compared to CNY 597,888,873.12, reflecting an increase of about 55.5%[29] - Non-current assets amounted to CNY 162,168,979.12, up from CNY 152,667,838.25, indicating a growth of approximately 6.5%[29] - Owner's equity rose significantly to CNY 943,945,628.52, compared to CNY 560,264,134.99, marking an increase of approximately 68.3%[31] Cash Flow - Cash flow from operating activities showed a significant decline of 370.31% to CNY -81,626,307.69 year-to-date[8] - The net cash flow from operating activities was -81,626,307.69, a significant decrease compared to 30,197,114.93 in the previous period, indicating a decline in operational efficiency[55] - The company reported a total cash outflow from operating activities of 355,225,691.63, compared to 293,471,195.57 in the previous period, indicating higher operational costs[55] - Cash inflow from financing activities amounted to 383,800,000.00, with a net cash flow of 316,068,000.00 after accounting for outflows[60] - The company experienced a net increase in cash and cash equivalents of 218,622,751.40, contrasting with a decrease of -38,277,145.91 in the previous period[60] Shareholder Information - The company reported a total of 10,132 common shareholders at the end of the reporting period[12] - The top shareholder, Beijing Huachuang Sanxin Investment Management Co., Ltd., holds 20.70% of the shares[12] - The company did not engage in any repurchase transactions during the reporting period[13] Inventory and Fixed Assets - Inventory rose by 48.95% to ¥132,457,915.48 compared to ¥88,924,794.79, attributed to an increase in contracts that have been produced but not yet delivered[16] - The company's fixed assets increased by 71.70% to ¥85,003,211.18 from ¥49,507,986.95, resulting from the transfer of construction projects to fixed assets[16] Expenses - Financial expenses saw a significant increase of 530.78%, resulting in a net income of -¥5,050,469.22, primarily due to increased interest income from structured deposits[16] - The company reported a 67.18% decrease in taxes and surcharges, amounting to ¥1,438,669.34 compared to ¥4,384,016.87, due to a reduction in value-added tax payable[16] - Cash paid for purchasing goods and services increased by 33.60% to ¥206,351,607.39 from ¥154,449,674.71, indicating higher procurement costs[17] - Total operating costs reduced to ¥67,200,664.45 from ¥86,829,013.44, a decrease of about 22.6% year-over-year[38] Research and Development - Research and development expenses increased to ¥3,054,987.45 from ¥2,727,003.14, an increase of about 12% year-over-year[38] - Research and development expenses increased to ¥8,262,958.80, up 29% from ¥6,418,145.06 in the prior year[51] Other Income - The company reported a 46.55% decrease in non-operating income, totaling ¥593,684.97 compared to ¥1,110,810.00, due to a reduction in government subsidies[16] - Other income remained stable at ¥165,712.65 compared to ¥165,674.70, showing minimal change year-over-year[38] - Other income increased to ¥3,997,137.95 from ¥2,297,100.00, indicating a growth of approximately 74%[45]

Financial Performance - Total revenue for the first half of 2019 was CNY 193,122,294.40, a decrease of 2.13% compared to CNY 197,325,361.02 in the same period last year[19]. - Net profit attributable to shareholders was CNY 43,301,594.36, down 21.19% from CNY 54,942,457.20 year-on-year[19]. - Basic earnings per share decreased by 32.45% to CNY 0.6186 from CNY 0.9157 in the same period last year[19]. - The company reported a total of CNY 3,057,948.37 in non-recurring gains and losses during the reporting period[22]. - The company faced a significant decline in profitability, with a weighted average return on net assets dropping to 5.85% from 11.61% year-on-year[19]. - The net profit for the period was RMB 43.30 million, down 21.19% from RMB 54.94 million year-on-year, primarily due to increased sales and R&D expenses, as well as higher asset impairment losses[48]. - The total profit for the first half of 2019 was ¥50,324,729.40, down 22.9% from ¥65,225,336.96 in the same period of 2018[149]. - The company's gross profit margin for seismic isolation bearings was 56.16%, down 2.40 percentage points from the previous year, while the gross profit margin for energy-dissipating dampers increased by 4.49 percentage points to 55.93%[49]. Cash Flow and Financial Position - Net cash flow from operating activities was negative CNY 74,523,331.43, a decline of 455.46% compared to CNY 20,965,040.66 in the previous year[19]. - Cash and cash equivalents increased by 226.72 million yuan, mainly due to the increase in raised funds[42]. - The company reported a net increase in cash and cash equivalents for the first half of 2019 was 225,946,600.39 yuan, compared to a decrease of 38,867,325.86 yuan in the same period of 2018, showing a positive turnaround[159]. - The company paid 37,761,776.45 yuan in employee compensation, which is a 62.9% increase from 23,192,077.48 yuan in the previous year[158]. - The total liabilities at the end of the period are 321,340,000 CNY, indicating a stable financial position[166]. - The total liabilities decreased to CNY 143,547,667.07 from CNY 190,292,576.38, a reduction of approximately 24.6%[141]. - The company reported a financial expense of -¥2,262,641.98, compared to -¥1,524,637.51 in the previous year, indicating an increase in financial costs[149]. Assets and Investments - Total assets increased by 41.65% to CNY 1,063,181,396.42 from CNY 750,556,711.37 at the end of the previous year[19]. - The company increased fixed assets by 25.35 million yuan, primarily due to the transfer of construction projects to fixed assets[42]. - The total amount of raised funds was 31,606.8 million, with 1,836.55 million invested during the reporting period[65]. - The company utilized 1,836.55 million of raised funds to replace self-raised funds for investment projects[66]. - The company reported a total of RMB 31,606.8 million in fundraising, with RMB 1,836.55 million used to replace self-raised funds for investment projects[68]. - The company’s total assets at the end of the reporting period were 560,254,175.71 CNY[171]. Market and Product Development - The company specializes in building isolation technology consulting, structural analysis, product R&D, production, installation guidance, and after-sales maintenance, becoming a leading production base for isolation products in China[26]. - The main products include rubber bearings, energy-dissipating dampers, and bridge bearings, with a focus on reducing seismic energy input to structures[30][31]. - The company has established offices in multiple provinces to expand its market presence, particularly in regions with high seismic activity, which covers 41% of the country's land[37]. - The promotion of isolation technology is expected to increase due to government policies and regulations supporting its use, contributing to a stable growth phase for the industry[38]. - The company plans to leverage its successful experience in Yunnan province to gain more market share nationwide as regulations improve[37]. - The company aims to expand its collaboration with influential design institutes to promote seismic isolation technology and identify potential projects[41]. Research and Development - The company has established a working station for academicians, enhancing its R&D capabilities in rubber, polymer materials, and engineering structures[43]. - R&D expenses rose by 41.09% to RMB 5.21 million, reflecting the company's commitment to enhancing its core competitiveness through ongoing research projects[53]. - The company plans to develop dedicated software to calculate the economic benefits of seismic isolation products, addressing the lack of data on economic differences between isolated and non-isolated buildings[40]. - The company has completed type testing for its viscoelastic dampers and metal rubber friction energy dissipators, expanding its product offerings for seismic projects[30]. Shareholder and Capital Structure - The total number of shares increased from 60,000,000 to 80,000,000, representing a 33.33% increase[116]. - The company raised a total of RMB 383,800,000 from the public offering of 20,000,000 shares at a price of RMB 19.19 per share[116]. - The largest shareholder, Beijing Huachuang Sanxin Investment Management Co., Ltd., holds 20.70% of the shares, totaling 16,559,235 shares[123]. - The company’s stock was officially listed on the Shenzhen Stock Exchange on March 29, 2019[116]. - The company’s basic and diluted earnings per share and net assets per share will be affected by the increase in total shares[117]. Risks and Challenges - The company has not disclosed any major risks that could severely impact its operations or financial status[5]. - The company is facing risks related to accounts receivable collection due to the construction industry's economic conditions[81]. - The company plans to increase R&D efforts and attract professional talent to mitigate technology innovation risks[80]. Corporate Governance and Compliance - The semi-annual financial report was not audited[88]. - There were no major litigation or arbitration matters during the reporting period[90]. - The company has not reported any issues or problems regarding the use and disclosure of fundraising[70].

Financial Performance - Total operating revenue for Q1 2019 was ¥79,388,068.56, an increase of 21.48% compared to ¥65,349,422.77 in the same period last year[7] - Net profit attributable to shareholders was ¥18,989,305.91, reflecting a growth of 27.25% from ¥14,922,577.47 year-on-year[7] - Basic earnings per share increased to ¥0.3165, up 27.26% from ¥0.2487 in the previous year[7] - Operating profit for the quarter reached CNY 22,401,986.93, up 27.5% from CNY 17,544,347.00 in Q1 2018[44] - The company reported a total profit of CNY 22,340,359.89, an increase of 27.1% from CNY 17,555,973.49 in the same quarter last year[44] Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,100,612,793.28, a 46.64% increase from ¥750,556,711.37 at the end of the previous year[7] - Total current assets increased to ¥938,052,659.79 as of March 31, 2019, up from ¥597,888,873.12 at the end of 2018, representing a growth of approximately 56.8%[34] - Total liabilities amounted to ¥196,960,907.34, up from ¥190,292,576.38, indicating a rise of about 3.5%[40] - The company’s total liabilities to total assets ratio is approximately 18.0% as of March 31, 2019[40] Cash Flow - The net cash flow from operating activities was negative at -¥38,900,456.60, a decline of 372.77% compared to ¥14,261,253.63 in the same period last year[7] - Total cash inflow from operating activities amounted to 89,563,115.04 yuan, up from 78,110,675.49 yuan, representing an increase of approximately 6.3%[56] - Cash outflow from operating activities reached 128,234,224.53 yuan, compared to 63,849,972.74 yuan in the previous period, indicating a significant increase of about 100.7%[56] - The net cash flow from financing activities was 333,358,137.41 yuan, with no comparable figure from the previous period[57] Shareholder Information - The company had a total of 40,000 common shareholders at the end of the reporting period[10] - The top shareholder, Beijing Huachuang Sanxin Investment Management Co., held 20.70% of shares, amounting to 16,559,235 shares[10] - The company did not engage in any repurchase transactions among the top shareholders during the reporting period[11] Research and Development - Research and development expenses increased by 58.55% to ¥1,603,272.95, driven by higher personnel costs and additional project investments[17] - The company is currently developing a state monitoring system for seismic isolation rubber bearings, with ongoing testing and data collection[19] - The company is enhancing its testing capabilities through the construction of a testing platform for seismic isolation and vibration reduction products, which is expected to significantly improve inspection capabilities upon completion[19] Revenue Breakdown - Revenue from seismic isolation products was 62.76 million yuan, up 0.89 million yuan from the previous year, with a growth rate of 1.44%[18] - Revenue from vibration reduction products surged to 16.63 million yuan, an increase of 13.15 million yuan year-on-year, reflecting a growth rate of 376.96%[18] - The total sales amount from the top five suppliers was 24.45 million yuan, accounting for 62.92% of current operating revenue, compared to 51.08% in the same period last year[19] - The total sales amount from the top five customers was 28.43 million yuan, representing 35.81% of current operating revenue, up from 33.41% year-on-year[20] Financial Management - Cash and cash equivalents increased by 115.06% to ¥540,876,918.81 due to funds raised from the initial public offering[17] - The total amount of raised funds is 316.068 million yuan, with no funds utilized in the current quarter[27] - The company plans to use up to 150 million yuan of idle raised funds for cash management, pending shareholder approval[28] Risks and Challenges - The company has identified risks related to accounts receivable collection, particularly from construction project contractors, which may impact future profit levels[22] - The company plans to adjust procurement cycles and increase raw material reserves to mitigate the impact of rising raw material prices[22]