参与单位名称 及人员姓名 河南亿帆私募基金管理有限公司 张翔 证券代码：300807 证券简称：天迈科技 | --- | --- | --- | --- | |--------------|-----------------------|----------------------------|-----------------| | | | | 编号： 2022-003 | | | | √特定对象调研 □分析师会议 | | | | □媒体采访 □业绩说明会 | | | | 投资者关系活 | □新闻发布会 □路演活动 | | | | 动类别 | □现场参观 □电话会议 | | | | | □其他： | （请文字说明其他活动内容） | | | --- | --- | |-------------------|---------------------------------------------------------------| | | | | 时间 | 2022 年 9 月 21 日下午 15:00 | | 地点 | 航空港区公司二楼会议室 | | 公司接待人员 姓名 | 证券负责人吴利伟、证券事务代表 ...

Financial Performance - The company's operating revenue for Q3 2022 reached ¥71,324,247.95, representing a 140.42% increase year-over-year[5] - The net profit attributable to shareholders was ¥5,119,413.58, a 134.56% increase compared to the same period last year[5] - The net profit after deducting non-recurring gains and losses was ¥4,754,009.02, up 122.64% year-over-year[5] - The basic earnings per share for Q3 2022 was ¥0.08, reflecting a 136.36% increase from the previous year[5] - The total revenue for the first nine months of 2022 was ¥141,247,099.86, a 64.09% increase compared to the same period in 2021[11] - The total operating revenue for the third quarter was CNY 141,247,099.86, an increase of 64.2% compared to CNY 86,077,291.20 in the same period last year[27] - The total operating costs amounted to CNY 177,167,346.74, up 17.9% from CNY 150,214,735.38 year-on-year[27] - The net loss for the quarter was CNY 18,847,923.15, a reduction in loss compared to CNY 41,999,176.32 in the previous year[28] - The basic and diluted earnings per share were both -0.27, improving from -0.61 in the same quarter last year[29] Cash Flow - The company reported a net cash flow from operating activities of ¥7,531,228.62 for the year-to-date, an increase of 108.44%[5] - The net cash flow from operating activities for the current period is ¥7,531,228.62, a significant improvement compared to the previous period's net cash flow of -¥89,189,380.58[30] - Cash inflow from operating activities totaled ¥227,839,788.42, up from ¥192,706,267.49 in the previous period, reflecting a growth of approximately 18.2%[30] - Cash outflow from operating activities decreased to ¥220,308,559.80 from ¥281,895,648.07, indicating a reduction of about 21.8%[30] - The net cash flow from investing activities showed a net outflow of ¥2,340.6 million, a decrease of 147.65% compared to the previous year[13] - The net cash flow from investing activities was -¥23,405,970.99, a decline from the previous period's positive cash flow of ¥49,120,513.04[31] - Cash inflow from investing activities decreased to ¥71,340,792.50 from ¥221,378,027.76, representing a drop of approximately 67.7%[31] - Cash outflow from investing activities also decreased to ¥94,746,763.49 from ¥172,257,514.72, showing a reduction of about 45.5%[31] - The net cash flow from financing activities was -¥3,847,462.03, compared to a positive cash flow of ¥37,063,051.08 in the previous period[31] - Cash inflow from financing activities increased to ¥79,645,673.56 from ¥53,003,145.00, reflecting a growth of approximately 50.5%[31] - The ending balance of cash and cash equivalents decreased to ¥68,308,044.85 from ¥85,428,192.49, a decline of about 20%[31] Assets and Liabilities - Total assets at the end of Q3 2022 amounted to ¥784,226,360.93, a decrease of 1.08% from the end of the previous year[5] - The total assets decreased to CNY 784,226,360.93 from CNY 792,793,499.72 at the end of the previous quarter[25] - The total liabilities increased to CNY 198,372,018.23 from CNY 191,127,965.70 in the previous quarter[25] - The company reported cash and cash equivalents of ¥74,925,171.46 as of September 30, 2022, down from ¥89,652,715.76 at the beginning of the year[23] - Accounts receivable decreased to ¥142,344,791.27 from ¥210,923,329.66[23] Shareholder Information - Total number of common shareholders at the end of the reporting period is 12,031[16] - The largest shareholder, Guo Jianguo, holds 37.27% of shares, totaling 25,289,680 shares[16] - The second largest shareholder, Shihezi Dacheng Credit Suisse Equity Investment Partnership, holds 14.85% of shares, totaling 10,075,560 shares[16] - The company has a total of 37,997,011 restricted shares, with 4,750 shares released during the period[20] - The company has adjusted the performance assessment indicators for the 2021 restricted stock incentive plan[21] - The company has no shareholders participating in margin financing business[17] - The total number of preferred shareholders is not applicable[18] Strategic Outlook - The company has no new strategies or significant market expansions reported in the current quarter[19] - The company plans to focus on market expansion and new product development in the upcoming quarters[26] Other Financial Metrics - The company experienced a significant increase in financial expenses, which rose by 911.68% due to increased bank borrowings[11] - The company reported a decrease in other income, which fell by 69.85% due to a reduction in government subsidies recognized as other income[11] - Research and development expenses were CNY 40,372,183.90, down from CNY 51,421,247.12 in the same period last year[28] - The company reported a significant increase in sales expenses, totaling CNY 24,716,943.48 compared to CNY 23,530,513.30 last year[28] - The company’s cash flow statement for the third quarter was not audited[32]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥69,922,851.91, representing a 23.95% increase compared to ¥56,410,900.52 in the same period last year[22]. - The net profit attributable to shareholders was -¥23,423,621.82, an improvement of 12.59% from -¥26,798,539.94 in the previous year[22]. - The net cash flow from operating activities was -¥62,827,346.93, which is a 40.54% decline compared to -¥44,703,401.23 in the same period last year[22]. - The total assets at the end of the reporting period were ¥774,255,461.28, down 2.34% from ¥792,793,499.72 at the end of the previous year[22]. - The net assets attributable to shareholders decreased by 3.55%, from ¥601,646,274.54 to ¥580,282,487.02[22]. - The basic earnings per share improved to -¥0.35 from -¥0.39, reflecting a 10.26% increase[22]. - The company's revenue for the reporting period reached ¥69,922,851.91, representing a year-on-year increase of 23.95% compared to ¥56,410,900.52 in the same period last year[80]. - The operating costs increased by 26.41% to ¥39,814,238.10 from ¥31,495,819.20, indicating a rise in expenses associated with sales[81]. - The company reported a net profit loss during the reporting period due to the ongoing impact of the pandemic, affecting future performance[104]. - Operating profit for the first half of 2022 was -¥31,188,840.98, slightly improved from -¥33,780,787.92 in the previous year[199]. - Net profit for the first half of 2022 was -¥23,559,545.59, compared to -¥27,046,085.47 in the same period of 2021, indicating a reduction in losses[199]. Business Strategy and Market Position - The main business focus is on providing integrated solutions for urban public transport operations based on vehicle networking technology[30]. - The company has served over 400 cities and more than 700 transportation enterprises, positioning itself among the industry leaders[37]. - The company is actively involved in the development of smart public transport solutions, leveraging technologies such as GPS, 4G/5G, and AI[31]. - The company has expanded its business from initial bus cash collection to cover a full range of services including bus scheduling, passenger flow analysis, and smart cash management, significantly improving operational efficiency and reducing accident rates[46]. - The company is expanding into new business areas such as taxi services and cold chain logistics to diversify revenue sources[109]. - The company aims to expand its business from intelligent public transport to other smart transportation fields, enhancing user engagement and core competitiveness[67]. Research and Development - The company has maintained a high R&D investment, with R&D personnel accounting for over 50% of total employees, and holds 288 patents and 310 software copyrights as of June 2022[75]. - The company is increasing R&D investment to enhance product and technology competitiveness in the smart bus sector[106]. - Research and development expenses for the first half of 2022 were ¥27,493,550.76, down from ¥31,522,307.43, a decrease of 12.8%[199]. Risks and Challenges - The company faces risks including market competition, seasonal revenue fluctuations, and accounts receivable recovery risks[5]. - The company faces risks from fluctuations in the public transport industry, which could adversely affect profitability if investment in smart management decreases[103]. - The company has a high accounts receivable balance, which poses a risk if effective measures are not taken to manage it[110]. Corporate Governance and Compliance - The company has a well-structured corporate governance system to protect the rights of shareholders and creditors[124]. - The company emphasizes its commitment to legal operations and corporate social responsibility, ensuring timely and full tax payments as its business expands[129]. - The company has implemented a comprehensive environmental management system, achieving compliance with environmental protection laws and standards[123][128]. - The company has not faced any administrative penalties due to environmental issues during the reporting period[122]. Shareholder Information - The largest shareholder, Guo Jianguo, holds 37.27% of the shares, totaling 25,289,680 shares[177]. - The second largest shareholder, Shihezi Dacheng Ruixin Equity Investment Partnership, holds 14.85% of the shares, totaling 10,075,560 shares[177]. - The total number of ordinary shareholders at the end of the reporting period is 12,130[177]. - The company has no significant changes in shareholding structure or major shareholder issues during the reporting period[170]. Future Commitments and Plans - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company will publicly disclose specific reasons for any unfulfilled commitments and apologize to shareholders and the public[143]. - The company will actively implement necessary measures to ensure the effectiveness of its compensation plans in accordance with regulatory requirements[138].

Revenue and Profitability - The company's revenue for Q1 2022 was CNY 38,389,323.40, representing a 73.32% increase compared to CNY 22,149,677.23 in the same period last year[4] - The net profit attributable to shareholders was a loss of CNY 16,728,966.66, which is a 48.20% increase in loss compared to a loss of CNY 11,288,314.58 in the previous year[4] - The company's basic earnings per share for Q1 2022 was -CNY 0.25, a decrease of 47.06% from -CNY 0.17 in the same period last year[4] - The net profit for Q1 2022 was a loss of CNY 16,809,589.42, compared to a loss of CNY 11,392,544.40 in Q1 2021, indicating a deterioration of about 47.5% year-over-year[22] - The basic and diluted earnings per share for Q1 2022 were both -CNY 0.25, compared to -CNY 0.17 in Q1 2021, indicating a decline in earnings performance[22] Cash Flow and Financial Position - The net cash flow from operating activities was -CNY 63,324,749.01, a decrease of 128.38% compared to -CNY 27,727,892.18 in the same period last year[11] - The cash flow from operating activities showed a net outflow of CNY 63,324,749.01 in Q1 2022, worsening from a net outflow of CNY 27,727,892.18 in Q1 2021[24] - The company reported cash inflows from investment activities of CNY 60,157,500.00, down from CNY 90,627,930.55 in the previous year, reflecting a decrease of approximately 33.5%[24] - The cash flow from financing activities resulted in a net inflow of CNY 48,378,996.34 in Q1 2022, compared to a net outflow of CNY 152,499.99 in Q1 2021, showing a significant turnaround[24] Assets and Liabilities - The total assets at the end of the reporting period were CNY 802,474,807.25, a 1.22% increase from CNY 792,793,499.72 at the end of the previous year[4] - Total liabilities increased to CNY 216,809,551.14 from CNY 191,127,965.70, which is an increase of 13.4%[18] - The total equity attributable to shareholders decreased by 2.65% to CNY 585,726,619.38 from CNY 601,646,274.54 at the end of the previous year[4] - The company's total equity decreased to CNY 585,665,256.11 from CNY 601,665,534.02, reflecting a decline of 2.7%[18] Operating Costs and Expenses - The company's operating costs rose by 134.90% to CNY 21,944,124.30, driven by increased sales orders[10] - The total operating costs for Q1 2022 were CNY 53,881,269.34, an increase from CNY 38,525,962.02 in Q1 2021, representing a growth of approximately 39.9%[21] - The company's research and development expenses for Q1 2022 were CNY 14,554,553.17, slightly down from CNY 15,550,563.21 in Q1 2021, a decrease of about 6.4%[21] - The company incurred a financial expense of CNY 128,721.69 in Q1 2022, compared to a financial income of CNY 68,158.47 in Q1 2021, indicating a shift in financial performance[21] Government Support and Future Strategies - The company received government subsidies amounting to CNY 650,000.00 during the reporting period[6] - Future strategies include potential market expansion and new product development, although specific details were not provided in the earnings call[19]

Financial Performance - The company reported a significant decline in revenue due to the ongoing impact of the pandemic, with a notable decrease in public transport passenger volume and related financial pressures on bus enterprises [4]. - The net profit for the reporting period showed a loss, attributed to increased expenses and intensified industry competition [4]. - The company’s operating revenue for 2021 was ¥232,757,525.16, representing a 7.76% increase compared to ¥216,002,483.00 in 2020 [19]. - The net profit attributable to shareholders for 2021 was -¥37,267,462.21, a significant decrease of 1,275.59% from a profit of ¥3,170,116.73 in 2020 [19]. - The net cash flow from operating activities was -¥91,883,720.87 in 2021, a decline of 124.19% compared to -¥40,985,227.16 in 2020 [19]. - The overall gross margin for the reporting period was 40.03%, a decrease of 11.21 percentage points compared to the previous year [73]. - The company received government subsidies amounting to ¥13,091,665.67 in 2021, down from ¥19,245,088.52 in 2020 [24]. - The company reported a significant increase in financing cash inflow by 216.95% to ¥53,787,284.20, following the repayment of bank loans and cash dividends in the previous period [111]. Business Strategy and Focus - The company’s primary business focus remains on the smart public transport sector, primarily serving bus enterprises [4]. - The company is actively involved in the development of new technologies and solutions to enhance public transport efficiency and user experience [35]. - The company plans to expand its business from smart public transport to other smart traffic areas to enhance user stickiness and core competitiveness [66]. - The company aims to enhance market share in the smart bus sector by improving existing product solutions and developing new products based on customer needs [135]. - The company plans to increase technological innovation by focusing on cloud computing, big data, and IoT technologies to enhance product competitiveness [137]. Market and Industry Trends - The urbanization rate in China reached 64.72% by the end of 2021, with a projected increase to 78.6% by 2040, highlighting the growing demand for urban public transport solutions [39]. - The government aims for public transport motorization rates of at least 50% in super-large cities and 40% in large cities by 2022, indicating a strong policy push for public transport development [40]. - The overall market for smart public transport remains fragmented with low industry concentration, presenting opportunities for the company to expand its market presence [34]. - The company operates in the smart bus sector, which is experiencing growth in vehicle ownership, operational routes, passenger volume, and operational mileage, leading to increased market demand for smart transportation solutions [148]. Risks and Challenges - The management highlighted potential risks including fluctuations in the public transport industry, performance decline, intensified market competition, and seasonal revenue risks [5]. - The ongoing severe domestic pandemic situation may adversely affect the company's business operations [4]. - The company faces intensified market competition as more enterprises enter the smart bus industry, which may impact its market position and profit levels if it fails to enhance its technical capabilities and scale [148]. - The company has a high accounts receivable balance, primarily from public transport enterprises and large bus manufacturers, which poses a risk if effective measures are not taken to manage this receivable scale [152]. Research and Development - The company holds 265 patents and over 257 software copyrights, with more than 50% of its 600 employees being R&D personnel [74]. - Research and development expenses totaled ¥68,658,300, an increase of 20.73% compared to 2020, accounting for 29.50% of operating revenue [81]. - The company is focusing on integrating advanced technologies like big data and AI to improve operational safety and decision-making capabilities [104]. - The number of R&D personnel increased by 1.55% to 394 in 2021, with R&D personnel accounting for 58.72% of the total workforce [108]. Governance and Management - The company maintains a complete and independent business structure, with no interference from its controlling shareholder in operational decisions [165][168]. - The company has established a robust internal management and control system, ensuring compliance with relevant laws and regulations, thereby enhancing governance standards [156]. - The company has a diverse management team with backgrounds in various sectors, including public transportation and technology [176][177][178]. - The company has been actively managing its board composition to ensure effective governance and oversight [175]. Future Outlook - The company has not provided specific forward-looking commitments, urging investors to maintain a cautious approach [4]. - The company aims to enhance customer satisfaction and reduce after-sales maintenance costs through the development of a big data-based intelligent vehicle terminal remote operation and maintenance cloud platform [103]. - The company is well-positioned to benefit from the ongoing urbanization and the government's strategic emphasis on public transport development as a solution to urban congestion and pollution [39].

Financial Performance - The company's revenue for Q3 2021 was ¥29,666,390.68, representing a decrease of 12.44% compared to the same period last year[4] - Total operating revenue for Q3 2021 was ¥86,077,291.20, a decrease of 12.3% from ¥98,089,843.08 in the same period last year[29] - Net profit for Q3 2021 was a loss of ¥41,999,176.32, compared to a loss of ¥13,273,384.89 in Q3 2020, reflecting a significant decline in profitability[31] - The net profit attributable to shareholders was -¥14,812,006.96, an increase of 17.42% in losses year-over-year[4] - The company's basic earnings per share for Q3 2021 was -¥0.22, a decrease of 221.05% year-to-date[4] - The company reported a basic and diluted earnings per share of -¥0.61, compared to -¥0.19 in the same quarter last year[32] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥89,189,380.58, down 36.90% compared to the previous year[4] - The net cash flow from operating activities was negative at ¥89,189,380.58, worsening from a negative cash flow of ¥65,149,578.59 in the same quarter last year[35] - Cash inflow from operating activities totaled ¥192,706,267.49, compared to ¥173,167,817.04 in the previous year, indicating improved cash receipts despite overall losses[35] - The net cash flow from investment activities was 49,120,513.04, compared to a negative cash flow of -120,754,703.41 in the previous year, indicating a significant improvement[36] - The total cash inflow from financing activities was 53,003,145.00, up from 5,800,000.00 in the same period last year[36] - The net cash flow from financing activities was 37,063,051.08, a recovery from a negative cash flow of -142,626,286.95 in the previous year[36] Assets and Liabilities - Total assets at the end of the reporting period were ¥753,754,441.14, a decrease of 1.61% from the end of the previous year[5] - The company's current assets totaled CNY 493,446,997.02, down from CNY 534,336,051.09 at the end of 2020, indicating a decrease of about 7.6%[25] - The total liabilities increased to ¥155,898,707.29, up from ¥129,374,357.20 year-on-year, indicating a rise in financial obligations[28] - The total equity attributable to shareholders decreased to ¥597,974,121.70 from ¥636,465,423.45, reflecting a decline in shareholder value[28] - The total liabilities increased to CNY 153,000,000.00, compared to CNY 140,000,000.00 at the end of 2020, indicating a rise of about 9.3%[26] Inventory and Borrowings - The company reported a significant increase in inventory, which rose by 69.95% to ¥17,130.83 million due to increased project costs and stockpiling[10] - Inventory increased significantly to CNY 171,308,258.21 from CNY 100,797,657.76, reflecting a growth of approximately 69.9%[24] - Short-term borrowings increased by 216.00% to ¥4,740.00 million, indicating a rise in bank loans[10] - Short-term borrowings rose to CNY 47,400,000.00, compared to CNY 15,000,000.00 at the end of 2020, marking an increase of 216%[26] Government Support and Shareholder Information - The company received government subsidies amounting to ¥6,612,400.00 during the reporting period, contributing to its financial performance[7] - The company reported a total of 281,250 restricted shares that were released during the period, with all shares being released on July 18, 2021[21] - The company has a total of 10 major shareholders, with the largest shareholder holding 882,700 shares, representing a significant portion of the total equity[20] Research and Development - Research and development expenses rose to ¥51,421,247.12, an increase of 29.7% from ¥39,663,852.16 in the previous year[30] Audit and Compliance - The third-quarter report was not audited, which may affect the reliability of the financial data presented[38]

Financial Performance - The company reported a total revenue of RMB 150 million for the first half of 2021, representing a year-on-year increase of 20% compared to the same period in 2020[17]. - The net profit attributable to shareholders for the first half of 2021 was RMB 30 million, an increase of 15% year-on-year[17]. - The company's operating revenue for the current period is ¥56,410,900.52, a decrease of 12.14% compared to ¥64,208,058.22 in the same period last year[23]. - The net profit attributable to shareholders for the current period is -¥26,798,539.94, representing a decline of 630.83% from ¥5,048,389.60 in the previous year[23]. - The company reported a significant increase in contract liabilities, rising by 2.11% to ¥27,388,229.84, attributed to an increase in contract prepayments received[70]. - The company reported a net profit loss during the reporting period, indicating potential risks of continued performance decline if effective measures are not taken to enhance competitiveness and profitability[96]. - The total comprehensive income for the first half of 2021 was a loss of ¥27,046,085.47, compared to a gain of ¥5,036,105.10 in the first half of 2020[182]. - The company recorded a net loss attributable to shareholders of CNY 47,495,700.00 during the period, indicating challenges in profitability[200]. Market Expansion and Strategy - The company plans to expand its market presence by entering two new provinces in the second half of 2021, aiming for a 10% increase in market share[17]. - The company plans to actively expand its business into other intelligent transportation sectors, such as smart taxis and smart sanitation, to diversify revenue streams and improve profitability[102]. - The company is exploring potential mergers and acquisitions to enhance its technological capabilities and market reach[17]. - The company focuses on smart public transportation solutions, leveraging vehicle networking technology for urban bus operations and management[30]. - The company plans to enhance its risk management strategies in the upcoming quarters to mitigate losses and improve profitability[194]. Research and Development - Research and development expenses increased by 30% to RMB 10 million, focusing on new product innovations in smart transportation technology[17]. - Research and development expenses increased to ¥31,522,307.43, primarily due to increased investment in R&D[66]. - The company is developing new AI-driven features for its products, expected to launch in Q4 2021, which could enhance user engagement[17]. - Increased investment in R&D is planned to meet new customer demands in the public transport sector and enhance the company's core competitiveness[103]. Financial Position and Assets - The total assets at the end of the current period are ¥718,032,614.07, down 6.28% from ¥766,110,022.22 at the end of the previous year[24]. - The net assets attributable to shareholders decreased by 4.03%, totaling ¥610,786,103.76 compared to ¥636,465,423.45 at the end of the last year[24]. - The company's current assets decreased to CNY 460,833,185.80 from CNY 534,336,051.09, reflecting a reduction of about 13.8%[171]. - Cash and cash equivalents were reported at CNY 65,499,301.19, down from CNY 95,824,316.48, indicating a decline of approximately 31.6%[170]. - The total equity attributable to the parent company at the end of the first half of 2021 was approximately 610.8 million CNY, compared to 680.9 million CNY at the end of the previous year, reflecting a decrease of about 10.3%[196]. Operational Efficiency - The company adopts a "make-to-order" production model, aligning production plans with actual customer orders to optimize resource utilization[42]. - The company primarily utilizes "just-in-time" procurement for raw materials, reducing inventory costs and improving capital efficiency[41]. - The company's operating costs increased by 1.06% to ¥31,495,819.20, with no significant changes reported[66]. - The product quality assurance rate is over 99.5%, ensuring stable and reliable product performance[60]. Risks and Challenges - The management highlighted risks including intensified market competition and potential impacts from the COVID-19 pandemic on operations[6]. - The smart public transport market is experiencing intensified competition, with increasing demand for intelligent transportation solutions, which may impact the company's market position and profit levels if it fails to scale effectively[97]. - There is a significant amount of accounts receivable, and if the company does not manage this effectively, it may face cash flow issues and increased bad debt risks[100]. - The company faces seasonal revenue risks, with sales typically higher in the second half of the year, particularly in Q4, due to the procurement cycles of public transport companies[99]. Corporate Governance and Compliance - The company has implemented a robust corporate governance structure, ensuring the protection of shareholder rights and compliance with relevant laws and regulations[119]. - The company has maintained transparent communication with investors, enhancing its credibility and protecting investors' right to information[120]. - The company has established long-term cooperative relationships with suppliers and customers, ensuring the protection of their legitimate rights[122]. - The company has established a comprehensive environmental management system, ensuring compliance with environmental laws and achieving pollutant discharge standards without any environmental pollution incidents[118].

Financial Performance - The company's revenue for Q1 2021 was ¥22,149,677.23, representing a 31.03% increase compared to ¥16,904,395.59 in the same period last year[9] - The net profit attributable to shareholders was -¥11,288,314.58, a decline of 150.53% from -¥4,505,767.53 year-over-year[9] - The company achieved total operating revenue of RMB 22,149,677.23, representing a year-on-year increase of 31.03% due to an increase in sales orders[21] - Net profit attributable to shareholders was a loss of RMB 11,288,314.58, a decline of 150.53% compared to the same period last year[23] - The total operating revenue for Q1 2021 was CNY 22,149,677.23, an increase of 30.5% compared to CNY 16,904,395.59 in the same period last year[61] - The net loss for the first quarter of 2021 was CNY 11,392,544.40, compared to a net loss of CNY 4,505,678.22 in the previous year, representing a year-over-year increase in loss of 153.1%[63] Cash Flow and Liquidity - The net cash flow from operating activities improved by 44.95%, reaching -¥27,727,892.18 compared to -¥50,368,394.28 in the previous year[9] - Cash flow from operating activities improved by 44.95%, with a net outflow of RMB 27,727,892.18 compared to RMB 50,368,394.28 in the previous year[22] - The cash inflow from operating activities was CNY 69,580,564.31, an increase from CNY 49,614,645.61 in the same period last year[69] - The cash and cash equivalents at the end of the period decreased to 58,787,208.99 CNY from 150,196,994.71 CNY, reflecting a significant decline[71] - The company experienced a net decrease in cash and cash equivalents of -33,480,506.15 CNY, compared to -271,957,539.46 CNY in the previous period, reflecting improved cash management[74] Assets and Liabilities - Total assets decreased by 5.30% to ¥725,480,968.37 from ¥766,110,022.22 at the end of the previous year[9] - Total liabilities decreased from CNY 129,374,357.20 to CNY 100,137,847.75, a reduction of about 22.6%[55] - Current liabilities decreased from CNY 128,322,857.20 to CNY 99,086,347.75, representing a decline of approximately 22.8%[55] - Accounts receivable decreased from CNY 187,138,471.92 to CNY 158,874,354.35, a reduction of approximately 15.1%[56] - The company's equity attributable to shareholders decreased from CNY 636,465,423.45 to CNY 625,177,108.87, a decline of approximately 1.9%[56] Investment and R&D - Research and development expenses increased by 50.83% to RMB 15,550,563.21, reflecting a significant increase in R&D investment[21] - Research and development expenses rose to CNY 15,550,563.21, up 50.5% from CNY 10,310,322.83 in the previous year[62] - Cumulative investment in the IoT Industrial Park construction project reached RMB 15,401.72 million, achieving 76.30% of the planned investment[43] - The company has utilized self-raised funds amounting to RMB 11,921.44 million for the IoT Industrial Park project prior to the official fundraising[44] Shareholder Information - The company had a total of 11,199 common shareholders at the end of the reporting period[13] - The largest shareholder, Guo Jianguo, holds 37.27% of the shares, amounting to 25,289,680 shares[13] Operational Challenges and Strategies - The company faces risks related to market competition, which may impact its profitability if it fails to enhance its technical capabilities[31] - The company plans to expand its business into other intelligent transportation sectors, such as smart taxis and smart sanitation, to diversify revenue streams[36] - The company is focusing on accelerating product development to meet new customer demands in the public transport sector[37] - The company will strengthen accounts receivable management to ensure timely cash flow and operational stability[40] Other Financial Metrics - The company reported a significant increase in other income by 122.37% to RMB 2,954,442.80, attributed to increased government subsidies related to daily operations[21] - The total amount of raised funds for the quarter was RMB 26,068.99 million, with RMB 845.4 million invested during the reporting period[43] - The company reported a total operating cost of CNY 38,525,962.02, which is an increase of 37.5% from CNY 28,022,706.56 in the same quarter last year[62] - The company incurred credit impairment losses of CNY 1,870,352.95, compared to a credit impairment gain of CNY -239,503.71 in the previous year[62] Compliance and Governance - The company reported no violations regarding external guarantees during the reporting period[46] - There were no non-operational fund occupations by controlling shareholders or related parties during the reporting period[47] - The company did not conduct an audit for the first quarter report, which may affect the reliability of the financial data presented[75]

Financial Performance - The company's operating revenue and net profit significantly declined due to the impact of the pandemic, with many peers in the smart public transport sector experiencing similar downturns[5]. - The company's operating revenue for 2020 was ¥216,002,483, a decrease of 53.93% compared to ¥468,847,179 in 2019[19]. - The net profit attributable to shareholders for 2020 was ¥3,170,116.73, down 95.75% from ¥74,545,927.21 in 2019[19]. - The net cash flow from operating activities was -¥40,985,227.16, a decline of 371.05% compared to ¥15,120,904.20 in 2019[19]. - The total assets at the end of 2020 were ¥766,110,022.22, a decrease of 17.98% from ¥934,004,454.21 at the end of 2019[19]. - The company reported a basic earnings per share of ¥0.05 for 2020, down 96.60% from ¥1.47 in 2019[19]. - The public transportation passenger volume in 36 major cities in China fell to 44.15 billion, a year-on-year decline of 33.7%, significantly impacting the company's business expansion[63]. - In 2020, the company achieved operating revenue of 216 million yuan, a decrease of 53.93% year-on-year, and a net profit attributable to shareholders of 3.17 million yuan, down 95.75% year-on-year[64]. Business Strategy and Expansion - The company plans to expand its business into other segments such as smart taxis, smart sanitation, smart charging, smart municipal services, and smart cold chain logistics to diversify revenue streams[5]. - The company aims to enhance its core competitiveness and sustainable development capabilities by integrating resources in the overall smart public transport solutions sector[5]. - The company has focused on the smart public transportation sector, providing integrated solutions based on vehicle networking technology[29]. - The company’s primary revenue model relies on smart transformation projects for public transport systems, aiming to expand its services beyond smart buses to other intelligent transportation sectors[37]. - The company plans to actively expand its business into other segments of intelligent transportation, such as smart taxis and smart sanitation, to improve revenue channels and enhance profitability[143]. - The company has developed new business directions in smart taxi, smart sanitation, smart charging, and smart cold chain, with projects launched in cities like Luoyang and Zhengzhou[67]. Research and Development - The company invested 56.87 million yuan in R&D in 2020, accounting for 26.33% of its operating revenue, and filed for 91 intellectual property rights, including 49 patents[68]. - The number of R&D personnel increased to 388 in 2020, making up 57.40% of the total workforce[96]. - The company will increase R&D investment to develop new products based on the evolving needs of public transport customers, leveraging its strengths in integrated smart public transport solutions[144]. - The company has completed the development of an intelligent traffic scheduling system software aimed at traffic management departments, integrating data from various public transport sectors[128]. Risk Management - Investors are advised to be cautious of risks related to industry fluctuations, performance declines, intensified market competition, and accounts receivable recovery[6]. - The company faces risks related to fluctuations in the public transport industry, which could adversely affect its profitability if investment in intelligent management declines[136]. - The company faces risks from intensified market competition as more players enter the intelligent public transport sector, which could impact its market position and profitability[138]. Financial Management and Policies - The company does not plan to distribute cash dividends, issue bonus shares, or increase capital using reserves[7]. - The company has not distributed cash dividends for the 2020 fiscal year, opting to retain earnings for future business expansion[155]. - The company has committed to maximizing long-term investment value for shareholders while ensuring sustainable development[159]. - The company has a policy to ensure that profit distribution does not harm its ongoing operational capabilities[159]. - The company has committed to implementing share repurchase plans if regulatory authorities impose administrative penalties or if judicial rulings identify false statements in the prospectus, with a repurchase price set at the IPO issuance price[164]. Operational Efficiency - Internal management will be strengthened to reduce costs and improve efficiency[5]. - The procurement strategy includes "just-in-time" purchasing to reduce inventory costs and improve capital efficiency, while "centralized purchasing" is used for common materials to achieve cost advantages[39]. - The production model is based on a "make-to-order" approach, allowing flexibility in production planning according to customer demand[40]. - The company has a seasonal revenue pattern, with higher sales typically occurring in the second half of the year, particularly in Q4, due to the procurement cycles of public transport companies[140]. Technological Innovation - The company has developed a proactive safety management system to address traffic accidents caused by driver behavior and vehicle safety issues[33]. - The company has developed an intelligent bus cash management system that includes patented anti-theft features, improving revenue security and data reliability for bus operators[35]. - The charging operation management system integrates vehicle charging and monitoring, enhancing safety and efficiency in managing electric bus charging schedules[36]. - The company has developed a comprehensive urban transportation big data service platform, integrating various transportation modes including buses, subways, taxis, and logistics, enhancing data exchange and management capabilities[48]. Market Position and Influence - The company is a leading provider of intelligent public transport solutions, covering over 400 cities and more than 600 transportation enterprises and management departments[54]. - The government has prioritized public transport development as a national strategy, aiming to improve green travel and enhance public transport service quality by 2022[44]. - The intelligent bus sector is expected to experience rapid growth due to advancements in technology and the implementation of national strategies for smart transportation[45]. - The company has established strategic partnerships with Baidu and Haowei Cloud Computing to explore business models in intelligent transportation and autonomous driving[70]. Compliance and Governance - The company has maintained compliance with all legal and regulatory requirements regarding accounting policy changes[174]. - The company has not issued any non-standard audit reports for the recent period[171]. - The company has successfully fulfilled its commitments to minority shareholders as per the established timeline[169].

Financial Performance - Net profit attributable to shareholders was CNY -17,936,664.28, a decline of 406.20% year-on-year[8] - Operating revenue fell by 40.27% to CNY 33,881,784.86 for the reporting period[8] - Basic earnings per share were CNY -0.26, down 316.67% year-on-year[8] - The company reported a net loss of CNY 18,215,342.69 for Q3 2020, compared to a profit of CNY 4,831,772.65 in Q3 2019[40] - Total operating revenue decreased to ¥34,601,986.08, down 39% from ¥56,767,010.36 in the previous year[44] - The company's operating profit was reported at -¥22,465,592.46, compared to -¥2,843,347.33 in the same quarter last year, showing a worsening operational performance[44] - The total comprehensive loss for the period was ¥22,035,138.96, compared to a comprehensive income of ¥1,468,499.28 in the same quarter last year[45] - The net profit for the current period was ¥12,018,758.62, down from ¥39,918,758.52, representing a decline of 69.9%[52] Assets and Liabilities - Total assets decreased by 23.67% to CNY 712,944,461.99 compared to the end of the previous year[8] - The company's total assets as of September 30, 2020, were CNY 751,671,112.90, down from CNY 893,404,988.68 at the end of 2019[36] - Total liabilities decreased to CNY 134,336,794.94 from CNY 240,593,729.34, a decline of 44.1%[37] - The company's equity attributable to shareholders was CNY 617,334,317.96, down from CNY 652,811,259.34[37] - Total liabilities amounted to 253,065,482.24 CNY, indicating a stable financial position[62] - The company's equity attributable to shareholders was 680,791,006.72 CNY, reflecting a solid capital structure[63] Cash Flow - The net cash flow from operating activities was CNY -2,116,816.62, an increase of 96.49% compared to the same period last year[8] - The net cash flow from operating activities for the first nine months of 2020 was -CNY 65.15 million, a decline of 16.83% from -CNY 55.76 million in 2019[19] - Cash and cash equivalents decreased to CNY 46,465,708.50 from CNY 385,647,432.57 at the end of 2019, a decline of 87.9%[34] - The net cash flow from operating activities was -54,862,323.82 CNY, compared to -80,729,488.60 CNY in the previous year, indicating an improvement[58] - The total cash outflow from financing activities was -¥142,626,286.95, compared to -¥14,436,305.53 in the previous period[55] Investments and Expenses - Long-term equity investments increased by 339.80% to CNY 13.56 million from CNY 3.08 million[16] - The company reported an investment income of CNY 2.24 million, a significant increase of 488.78% compared to a loss of CNY 0.58 million in the previous year[18] - Research and development expenses increased to CNY 17,948,241.51 from CNY 13,895,398.12, reflecting a growth of 29.5%[40] - Research and development expenses increased to ¥20,239,096.84, up 42.9% from ¥14,166,546.76 year-over-year, reflecting a continued investment in innovation[44] - The company reported a significant increase in investment income to ¥30,490,046.71, up from ¥19,570,165.54[51] Shareholder Information - The company reported a total of 10,574 common shareholders at the end of the reporting period[11] - The top shareholder, Guo Jianguo, holds 37.27% of the shares, totaling 25,289,680 shares[11] Regulatory and Accounting Changes - The company has reclassified advance receipts to contract liabilities in accordance with new accounting standards, impacting financial reporting[16] - The company implemented new revenue and leasing standards starting in 2020, necessitating adjustments to the financial statements[59] - The company has not undergone an audit for the third quarter report[67]