Financial Performance - Revenue for Q3 2021 reached ¥212,159,595.10, an increase of 42.98% year-over-year, while year-to-date revenue totaled ¥679,962,441.24, up 60.03% compared to the same period last year[3]. - Net profit attributable to shareholders for Q3 2021 was ¥22,098,144.54, a 41.72% increase year-over-year, with year-to-date net profit at ¥76,863,504.11, reflecting a 53.77% growth[3]. - Basic earnings per share for Q3 2021 stood at ¥0.18, up 38.46% year-over-year, and diluted earnings per share also at ¥0.18, with year-to-date figures at ¥0.63, a 46.51% increase[3]. - Total operating revenue for Q3 2021 reached ¥679,962,441.24, compared to ¥424,896,947.58 in the same period last year, indicating a significant increase[21]. - Operating profit for the period was ¥89,687,278.06, up from ¥56,738,087.75 year-on-year, reflecting improved operational efficiency[22]. - Net profit attributable to the parent company was ¥76,863,504.11, compared to ¥49,987,249.93 in the previous year, representing a growth of approximately 53.8%[22]. - The total comprehensive income attributable to the parent company was CNY 76,863,504.11, compared to CNY 49,987,249.93 in the previous period, representing a significant increase[23]. - Basic and diluted earnings per share increased to CNY 0.63 from CNY 0.43, reflecting improved profitability[23]. Assets and Liabilities - The company's total assets as of the end of Q3 2021 were ¥1,209,728,311.29, representing a 4.96% increase from the end of the previous year[3]. - Total assets increased to ¥1,209,728,311.29 from ¥1,152,528,851.25, showing a growth of about 4.9%[20]. - Current liabilities decreased slightly to ¥242,649,929.55 from ¥249,304,347.58, indicating better management of short-term obligations[19]. - The company’s total liabilities stood at ¥260,869,839.55, a slight increase from ¥258,489,377.58, reflecting stable financial leverage[19]. Cash Flow - Cash flow from operating activities for the year-to-date period was ¥5,175,961.09, down 71.19% compared to the same period last year[7]. - Cash inflow from operating activities totaled CNY 575,609,156.03, up from CNY 289,170,580.66 in the previous period[25]. - The net cash flow from operating activities was CNY 5,175,961.09, a decrease from CNY 17,965,905.43 in the previous period[26]. - Cash inflow from investment activities was CNY 548,862,220.40, compared to CNY 260,978,250.08 in the previous period[26]. - The net cash flow from investment activities was negative at CNY -18,364,350.79, an improvement from CNY -306,243,111.31 in the previous period[26]. - Cash inflow from financing activities was CNY 115,000,000.00, down from CNY 368,166,750.05 in the previous period[27]. - The net cash flow from financing activities decreased to CNY 46,609,909.28 from CNY 306,023,794.90 in the previous period[27]. - The ending balance of cash and cash equivalents was CNY 95,957,068.54, compared to CNY 59,543,996.74 in the previous period[27]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 10,259[9]. - The largest shareholder, Zhou Yingchun, holds 41.74% of the shares, totaling 50,616,000 shares[9]. - The company’s major shareholders include Jiaxing Shunfei Equity Investment Management Co., Ltd. with 6.06% and Jiaxing Tengfei Equity Investment Management Co., Ltd. with 4.99%[9]. - The company has a total of 75,792,000 restricted shares, with 11,606,400 shares released during the reporting period[13]. - The company has a plan to release 8,436,000 shares held by Zhou Yingchun on February 18, 2023[12]. - The company’s total restricted shares held by major shareholders include 50,616,000 shares held by Zhou Yingchun and 7,344,000 shares held by Jiaxing Shunfei[12]. Research and Development - Research and development expenses increased by 63.97% year-over-year to ¥36,365,199.14, indicating a significant investment in innovation[7]. - Research and development expenses for the quarter were ¥36,365,199.14, compared to ¥22,178,022.10 in the previous year, highlighting a focus on innovation[21]. Borrowings and Financial Management - Short-term borrowings surged by 259.99% to ¥90,091,224.99, primarily due to increased bank loans[6]. - Short-term borrowings increased significantly to ¥90,091,224.99 from ¥25,026,222.23, suggesting a potential strategy to leverage financing for growth[19]. Other Financial Metrics - The net profit margin for Q3 2021 was approximately 10.41%, reflecting strong profitability amidst revenue growth[3]. - The company experienced a 51.61% decrease in trading financial assets, totaling ¥105,000,000.00, due to the maturity of financial products[6]. - The company’s trading financial assets decreased to ¥105,000,000.00 from ¥217,000,000.00 year-over-year[17]. - Inventory levels rose to ¥136,310,366.24 from ¥110,085,655.46, reflecting increased production or stockpiling strategies[19]. - The company reported a total equity of ¥948,858,471.74, up from ¥894,039,473.67, indicating a strengthening of the financial position[20]. Audit Status - The report for the third quarter was not audited, indicating that the figures may be subject to change[28].

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥467,802,846.14, representing a 69.18% increase compared to ¥276,509,651.04 in the same period last year[22]. - The net profit attributable to shareholders was ¥54,765,359.57, up 59.23% from ¥34,394,805.60 in the previous year[22]. - The net profit after deducting non-recurring gains and losses was ¥51,729,873.95, showing a significant increase of 99.53% compared to ¥25,925,513.02 in the same period last year[22]. - The basic earnings per share increased to ¥0.45, a 50.00% rise from ¥0.30 in the previous year[22]. - Total profit amounted to 65.01 million CNY, with a year-on-year increase of 68.11%[29]. - The company reported a significant increase in revenue for the first half of 2021, achieving a total of 1.5 billion CNY, representing a year-over-year growth of 20%[110]. - The company reported a total comprehensive income for the first half of 2021 was 25,584,012.44 yuan, reflecting a significant increase compared to the previous period[196]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,198,445,471.73, reflecting a 3.98% increase from ¥1,152,528,851.25 at the end of the previous year[22]. - The net assets attributable to shareholders increased to ¥912,299,276.30, up 3.40% from ¥882,325,896.51 at the end of the previous year[22]. - The company's total liabilities as of June 30, 2021, were CNY 272,634,180.95, compared to CNY 258,489,377.58 at the end of 2020, reflecting an increase of about 5.5%[161]. - The company's equity attributable to shareholders rose to CNY 912,299,276.30 from CNY 882,325,896.51, indicating an increase of approximately 3.0%[162]. Cash Flow - The net cash flow from operating activities was negative at -¥28,322,651.07, a decline of 703.97% compared to a positive cash flow of ¥4,689,385.89 in the same period last year[22]. - The company reported a net cash outflow of ¥15,809,403.85, a 296.07% decrease compared to a net inflow of ¥8,063,143.68 in the previous year, mainly due to cash outflows from investment activities[55]. - The company’s cash and cash equivalents decreased to CNY 50,465,019.41 from CNY 65,474,423.26, representing a decline of approximately 23.0%[159]. Research and Development - The company has established a strong R&D capability and technology transfer ability, contributing to its competitive advantage in the self-lubricating bearing market[29]. - Research and development expenses increased by 64.93% to ¥23,266,281.87 from ¥14,106,785.53, reflecting the company's commitment to enhancing R&D efforts[55]. - The company is investing in R&D, with a budget increase of 30% for new technology development[101]. Market and Product Development - The company specializes in self-lubricating bearings and composite materials, holding leading core technologies and independent intellectual property rights in the industry[29]. - The company has developed several innovative products, including SF-type composite bearings and JF-MP friction welding bearings, recognized as key national new products and included in the National Torch Program[46]. - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share by the end of 2022[103]. Risk Management - The management has highlighted potential risks and countermeasures in the report, urging investors to remain aware of investment risks[5]. - The company faces risks from fluctuations in raw material prices, particularly for copper powder and steel plates, which significantly impact gross margin levels[83]. - To mitigate raw material price risks, the company is closely monitoring price trends and adjusting material reserves accordingly[83]. Corporate Governance and Compliance - The company has committed to fulfilling all public commitments made during the IPO process[107]. - The company will ensure that any related party transactions are conducted at fair market prices to protect the interests of shareholders[105]. - The company has established a robust employee rights protection system, ensuring compliance with labor laws and providing various social insurance benefits[97]. Future Outlook - The company provided a positive outlook for the second half of 2021, projecting a revenue growth of 20%[101]. - The management emphasized the importance of sustainability initiatives, targeting a 25% reduction in carbon emissions by 2025[101]. - The company aims to enhance shareholder value through strategic investments and potential mergers and acquisitions in the future[189].

Financial Performance - The company's operating revenue for Q1 2021 was CNY 232,953,807.88, representing a 92.49% increase compared to CNY 121,019,431.66 in the same period last year[8] - Net profit attributable to shareholders for Q1 2021 was CNY 25,755,204.34, up 96.61% from CNY 13,099,858.85 year-on-year[8] - The net profit after deducting non-recurring gains and losses was CNY 23,981,617.01, reflecting a significant increase of 137.84% compared to CNY 10,082,997.31 in the previous year[8] - Basic earnings per share for Q1 2021 were CNY 0.25, a 31.58% increase from CNY 0.19 in the previous year[8] - The company achieved operating revenue of 232.95 million CNY, a year-on-year increase of 92.49%[22] - Net profit for the period was 25.76 million CNY, reflecting a year-on-year growth of 96.61%[22] - The increase in revenue was driven by the continuous growth in the engineering machinery industry and the recovery of the automotive sector[22] - The total comprehensive income for Q1 2021 was CNY 26,812,777.79, compared to CNY 13,099,858.85 in the previous year, reflecting a growth of about 104%[48] Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -51,634,360.82, but improved by 228.94% from CNY -15,697,230.69 in the same period last year[8] - Cash and cash equivalents increased by 262.73% to CNY 237,494,894.69, primarily due to the maturity of financial assets[19] - The company reported a net cash outflow from operating activities of CNY -51,634,360.82, a 228.94% increase in outflow compared to the previous year[20] - Cash flow from financing activities decreased by 81.13% to 5.84 million CNY, primarily due to reduced bank loan repayments and intermediary fees[21] - The net cash flow from financing activities was 79.16 million CNY, down 75.81% compared to the previous year[21] - The cash inflow from operating activities was 166,101,459.46 CNY, compared to 80,695,671.02 CNY in the previous period, showing improved sales performance[55] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,181,085,650.33, a 2.48% increase from CNY 1,152,528,851.25 at the end of the previous year[8] - Current liabilities decreased to CNY 225,876,963.26 from CNY 249,304,347.58, reflecting a reduction of approximately 9.5%[39] - The total equity attributable to shareholders rose to CNY 908,545,790.35 from CNY 882,325,896.51, marking an increase of about 3%[40] - The total liabilities increased slightly to CNY 259,768,709.37 from CNY 258,489,377.58, indicating a marginal rise of about 0.5%[39] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,164[12] - The largest shareholder, Zhou Yinchun, holds 41.74% of the shares, totaling 42,180,000 shares[12] Research and Development - Research and development expenses increased by 79.39% to CNY 10,224,598.37, reflecting the company's commitment to innovation[19] - The company has committed to increasing production capacity by 13.6 million sets of sliding bearings, with a project completion target set for September 2022[28] - The construction of a new R&D center is underway, with an investment of CNY 4 million and a progress rate of 10.65% as of the report date[28] Market Strategy and Future Plans - The company plans to continue expanding its market presence and investing in new technologies[19] - The company plans to enhance its technological and management capabilities to improve market competitiveness amid intensified industry competition[24] - The company has not experienced any significant changes in its annual operating plan during the reporting period[22] Non-Recurring Gains and Other Financial Metrics - The company reported non-recurring gains of CNY 1,773,587.33 during the reporting period, primarily from government subsidies and asset disposals[9] - The company reported investment income of CNY 1,604,693.14 for Q1 2021, a significant increase from CNY 33,335.07 in the previous year[46] - The company experienced a credit impairment loss of CNY -2,577,827.82 in Q1 2021, compared to CNY -1,722,853.39 in the previous year, highlighting an increase in credit risk[46]

Financial Performance - The company's operating revenue for 2020 was ¥624,880,957.71, representing a 17.99% increase compared to ¥529,584,726.03 in 2019[17]. - The net profit attributable to shareholders for 2020 was ¥74,647,426.47, which is a 10.65% increase from ¥67,461,378.50 in the previous year[17]. - The net profit after deducting non-recurring gains and losses was ¥61,575,818.19, up 6.28% from ¥57,939,294.63 in 2019[17]. - The basic earnings per share for 2020 decreased to ¥0.77, down 8.33% from ¥0.84 in 2019[17]. - The total assets at the end of 2020 reached ¥1,152,528,851.25, an 85.14% increase from ¥622,501,924.71 at the end of 2019[17]. - The net assets attributable to shareholders increased by 79.04% to ¥882,325,896.51 from ¥492,802,847.17 in 2019[17]. - The net cash flow from operating activities significantly decreased by 74.28% to ¥20,123,446.79 from ¥78,239,915.78 in the previous year[17]. - The weighted average return on net assets for 2020 was 9.36%, down 5.16% from 14.52% in 2019[17]. Revenue Breakdown - The company's total revenue for the four quarters was as follows: Q1: 121.02 million, Q2: 155.49 million, Q3: 148.39 million, Q4: 199.98 million[19]. - Net profit attributable to shareholders for the four quarters was: Q1: 13.10 million, Q2: 21.29 million, Q3: 15.59 million, Q4: 24.66 million[19]. - The manufacturing sector contributed 610.87 million yuan, accounting for 97.76% of total revenue, with a growth of 16.65% year-on-year[64]. - Domestic sales reached 521.09 million yuan, representing 83.39% of total revenue, with a year-on-year increase of 26.86%[64]. Product and Market Development - The company specializes in self-lubricating bearings and related materials, holding strong core technologies and intellectual property rights in this field[26]. - The main products include various series of self-lubricating bearings, which are widely used in automotive, engineering machinery, hydraulic systems, and mold industries[27][28][29][30]. - The company launched seven new products in 2020, including high-performance self-lubricating bearings and precision components, which passed provincial-level new product acceptance[60]. - The company acquired 80% of Jinhua Shuangfei Chengkai Alloy Materials Co., Ltd., enhancing its core business and improving raw material quality[60]. Cash Dividend and Profit Distribution - The company plans to distribute a cash dividend of ¥2.5 per 10 shares, with no bonus shares issued[5]. - The cash dividend amount represents 33.85% of the company's net profit attributable to ordinary shareholders for the year 2020[134]. - The total distributable profit for the year is RMB 365,203,262.75, with the cash dividend accounting for 100% of the profit distribution[132]. - The company has maintained a consistent cash dividend policy, with previous distributions of RMB 21,055,000 in 2019 and RMB 18,948,000 in 2018[134]. Investment and Financial Management - The company reported an investment amount of ¥878,898,253.06 for the reporting period, representing a significant increase of 724.25% compared to the previous year's investment of ¥106,629,515.11[91]. - The company has a total of ¥33,575,670 in raised funds, with no changes in usage reported[96]. - The company has established a special account for raised funds and signed a tripartite supervision agreement with banks to ensure proper management and usage of the funds[98]. - The company has committed to returning any temporarily used funds to the special account within 12 months[100]. Risk Management - The company has acknowledged potential risks in its operations and has detailed measures to address these risks in its report[5]. - The company faces risks from raw material price fluctuations, particularly for copper and steel, which could impact profit margins[118]. - The company is exposed to intensified industry competition, necessitating continuous technological and management improvements to maintain market share[119]. - The company is subject to exchange rate fluctuations, particularly with USD and EUR, which could affect export sales and overall performance[119]. Corporate Governance and Compliance - The company has not reported any significant discrepancies in financial data according to different accounting standards during the reporting period[19][20]. - The company has not experienced any major litigation or arbitration during the reporting period[155]. - The company has established measures to ensure compliance with relevant laws and regulations to avoid administrative penalties[145]. - The company has committed to strictly fulfill all public commitments made during the IPO process, ensuring accountability for any failures[142]. Environmental Responsibility - The company has established and maintained effective pollution control facilities, achieving compliance with the "Comprehensive Wastewater Discharge Standards" (GB8978-1996) for chemical oxygen demand[180]. - The company has completed environmental impact assessments for all production projects, which have been approved or filed[180]. - The company has not experienced any pollution incidents or disputes during the reporting period, and there were no administrative penalties for violations of environmental protection laws[183]. - The company has implemented an environmental self-monitoring plan, combining online and manual monitoring of pollution sources[182]. Shareholder Structure and Stock Management - The company has a shareholder structure where domestic natural persons hold 60.20% of shares, while domestic legal persons hold 14.80%[194]. - The company’s stock issuance was approved by the China Securities Regulatory Commission, with the first public offering being 21.06 million shares[197]. - The total number of common shareholders at the end of the reporting period is 11,915, an increase from 11,164 at the end of the previous month, representing a growth of approximately 6.7%[199]. - The largest shareholder, Zhou Yingchun, holds 41.74% of the shares, totaling 42,180,000 shares, with no changes during the reporting period[199].

Financial Performance - Operating revenue for the reporting period was ¥148,387,296.54, representing a year-on-year increase of 27.36%[8] - Net profit attributable to shareholders of the listed company was ¥15,592,444.33, up by 2.40% compared to the same period last year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 10.71% to ¥12,878,558.70[8] - Basic earnings per share were ¥0.15, a decrease of 21.05% compared to the same period last year[8] - The weighted average return on net assets was 1.83%, down by 1.44% year-on-year[8] - Total operating revenue for the third quarter reached ¥148,387,296.54, an increase from ¥116,513,736.88 in the previous period, representing a growth of approximately 27.4%[37] - Total operating costs amounted to ¥132,881,362.23, up from ¥103,297,481.47, indicating an increase of about 28.7%[38] - Net profit for the period was ¥15,592,444.33, slightly higher than ¥15,227,441.93 from the previous year, reflecting a growth of 2.4%[39] - Earnings per share (EPS) for the current period was ¥0.15, compared to ¥0.19 in the same period last year, showing a decrease of 21.1%[40] - The total comprehensive income for the current period was ¥49,987,249.93, compared to ¥47,761,190.31 in the previous period[49] Assets and Liabilities - Total assets at the end of the reporting period reached ¥988,648,994.86, an increase of 58.82% compared to the end of the previous year[8] - Net assets attributable to shareholders of the listed company amounted to ¥857,475,258.40, reflecting a growth of 74.00% year-on-year[8] - The company's total liabilities decreased by 52.38% in short-term borrowings to ¥10,000,000.00 from ¥21,000,000.00, primarily due to repayment of bank loans[16] - Total liabilities amounted to CNY 131.17 million, slightly up from CNY 129.70 million, showing a marginal increase of 1.1%[31] - The company's equity attributable to shareholders increased significantly to CNY 857.48 million from CNY 492.80 million, a growth of 74.0%[32] - Total current assets amounted to CNY 299,387,451.05, with cash and cash equivalents at CNY 47,156,181.79 and accounts receivable at CNY 113,349,182.92[63] - Total non-current assets reached CNY 323,114,473.66, including fixed assets of CNY 248,364,102.37 and intangible assets of CNY 29,807,440.58[64] - Total assets were CNY 622,501,924.71, while total liabilities stood at CNY 129,699,077.54, resulting in total equity of CNY 492,802,847.17[66] Cash Flow - The net cash flow from operating activities was ¥13,276,519.54, down 52.10% year-on-year[8] - Cash received from investment activities surged by 582.33% to ¥260,330,566.58 from ¥38,153,145.36, mainly due to the maturity of bank financial products[18] - The net cash flow from operating activities decreased by 63.26% to ¥17,965,905.43 from ¥48,906,438.47, primarily due to increased cash payments for goods and services[17] - The company reported a significant increase in cash outflow from investment activities, totaling CNY 567,221,361.39, compared to CNY 64,653,114.19 in the previous period, marking an increase of over 775%[57] - The net cash flow from financing activities was CNY 306,023,794.90, a turnaround from a negative cash flow of CNY 40,380,215.63 in the previous period[57] - The ending balance of cash and cash equivalents was CNY 59,543,996.74, up from CNY 31,826,275.50 in the previous period, representing an increase of approximately 87%[57] Shareholder Information - The company reported a total of 13,237 common shareholders at the end of the reporting period[12] - The company is focusing on expanding its market presence and developing new technologies to enhance product offerings[30] - Future guidance indicates a continued emphasis on increasing operational efficiency and exploring potential mergers and acquisitions to drive growth[30] Government Support - Government subsidies recognized during the reporting period amounted to ¥9,409,245.83, primarily from business-related government support[9] Research and Development - Research and development expenses rose to ¥8,071,236.57 from ¥6,454,952.78, an increase of approximately 24.9%[38] - Research and development expenses increased to ¥22,178,022.10, compared to ¥20,090,301.26 in the prior period, reflecting a growth of 10.4%[47]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 276,509,651.04, representing a 4.18% increase compared to CNY 265,405,067.54 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was CNY 34,394,805.60, up 5.72% from CNY 32,533,748.38 year-on-year[19]. - The net cash flow from operating activities decreased significantly by 77.87%, amounting to CNY 4,689,385.89 compared to CNY 21,187,442.31 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was CNY 25,925,513.02, a decrease of 2.77% compared to CNY 26,664,269.84 in the previous year[19]. - The company achieved operating revenue of CNY 276.51 million, an increase of 4.18% compared to the same period last year, primarily due to a 10% growth in domestic sales[47]. - Net profit attributable to shareholders reached CNY 34.39 million, reflecting a growth of 5.72% year-on-year[47]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion CNY for the first half of 2020, representing a year-on-year growth of 20%[87]. - The total comprehensive income for the first half of 2020 was 25,584,000 RMB, reflecting a 12.4% increase compared to the previous period[176]. Assets and Liabilities - Total assets increased by 53.98% to CNY 958,501,683.58 from CNY 622,501,924.71 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company rose by 70.86% to CNY 842,010,179.78 from CNY 492,802,847.17 at the end of the previous year[19]. - The company's total assets as of June 30, 2020, amounted to CNY 800,874,658.13, compared to CNY 492,558,054.30 at the end of 2019, indicating a growth of 62.5%[148]. - The total liabilities decreased to CNY 116,491,503.80 from CNY 129,699,077.54, showing a reduction of about 10%[144]. - The company's equity attributable to shareholders increased to CNY 842,010,179.78 from CNY 492,802,847.17, representing a growth of approximately 71%[145]. - The total liabilities at the end of the reporting period were 504.179 million yuan, representing an increase of 4.78% year-on-year[170]. Research and Development - The company has a strong R&D capability in self-lubricating bearings, holding multiple invention patents and practical new-type patents, establishing a competitive advantage in the industry[26]. - The company developed 12 new products and was granted 7 national patents, including 1 invention patent, enhancing its innovation capabilities[47]. - Research and development investment amounted to CNY 14.11 million, a 3.46% increase from the previous year, indicating a stable commitment to innovation[50]. - Investment in R&D increased by 25% year-on-year, focusing on the development of new oil-free bearing technologies[83]. - The company is investing 100 million CNY in R&D for new technologies to improve product efficiency and sustainability[87]. Market Strategy and Operations - The company employs an order-driven production model, ensuring quality control and timely delivery of products[30]. - The sales strategy includes both direct sales in the domestic market and a distribution model for international markets, enhancing market coverage and reducing sales costs[31]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by 2022[82]. - A strategic acquisition of a local competitor is anticipated to enhance production capacity by 40%[83]. - The company plans to expand its product range and may consider mergers and acquisitions to strengthen its core business[47]. Risk Management - The company has disclosed potential risks and countermeasures in its operations, urging investors to be aware of investment risks[5]. - The company faces risks from raw material price fluctuations, particularly for copper powder and steel plates, which could impact profit margins[71]. - Increased competition in the self-lubricating bearing industry poses a risk to market share and profit margins, necessitating continuous technological and management improvements[72]. - The automotive industry's cyclical fluctuations may lead to reduced orders and inventory buildup, impacting the company's financial performance[72]. - The company is exposed to exchange rate fluctuations, particularly with USD and EUR, which could affect export sales and overall financial results[72]. Shareholder and Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company reported a lock-up period of 36 months for shares held prior to the IPO, which may extend to 42 months if certain conditions are met[80]. - The company commits not to transfer or manage shares held before the IPO for 12 months post-IPO[81]. - The company has established a clear policy for share reduction that aligns with market regulations and practices[81]. - The company emphasizes the importance of compliance with the rules governing shareholding changes for directors and senior management[81]. Environmental and Social Responsibility - The company is classified as a key pollutant discharge unit and has established effective pollution control measures, meeting the required discharge standards[109][110]. - The company has completed environmental impact assessments for all production projects, which have been approved and are operational[110]. - The company has not engaged in any poverty alleviation initiatives during the reporting period and has no plans for future projects[112]. Financial Reporting and Compliance - The financial report for the first half of 2020 was not audited[140]. - The company has not reported any changes in the scope of consolidation for the financial statements during the reporting period[184]. - The company has established specific accounting policies based on its operational characteristics, including provisions for bad debts and inventory measurement[188].

Financial Performance - Total revenue for Q1 2020 was CNY 121,019,431.66, a decrease of 10.26% compared to CNY 134,853,154.28 in the same period last year[8] - Net profit attributable to shareholders was CNY 13,099,858.85, down 7.71% from CNY 14,194,816.92 year-on-year[8] - Basic earnings per share decreased by 13.64% to CNY 0.19 from CNY 0.22 in the same period last year[8] - Net profit for the period was CNY 13.10 million, down 7.71% compared to the same period last year[21] - The net profit for the first quarter of 2020 was CNY 10,116,543.55, a decrease of 57.7% compared to CNY 23,865,536.05 in the same period last year[51] - Operating profit for the first quarter was CNY 11,530,690.69, down 54.4% from CNY 25,286,021.86 year-over-year[51] Cash Flow and Liquidity - Net cash flow from operating activities was negative CNY 15,697,230.69, a decline of 1,153.80% compared to negative CNY 1,251,977.12 in the previous year[8] - Cash and cash equivalents increased by 567.32% to CNY 314.68 million, primarily due to funds received from fundraising activities[19] - The total cash inflow from financing activities was CNY 358,166,705.05, a substantial increase from CNY 12,000,000.00 in the same period last year[59] - The net cash flow from financing activities was CNY 330,242,969.34, compared to -CNY 7,420,122.88 in the previous year, showing a strong improvement[59] - Total cash and cash equivalents at the end of the period reached CNY 302,292,323.02, up from CNY 19,307,555.27 at the end of the previous year[59] Assets and Liabilities - Total assets increased by 53.96% to CNY 958,391,792.15 from CNY 622,501,924.71 at the end of the previous year[8] - The company's total liabilities decreased to CNY 116,577,925.14 from CNY 129,699,077.54, reflecting a reduction of about 10.1%[39] - Owner's equity rose to CNY 736,729,871.84 from CNY 390,994,872.10, reflecting a strong improvement in the company's financial position[43] - The total assets amounted to CNY 622,501,924.71, with total liabilities of CNY 129,699,077.54, resulting in total equity of CNY 492,802,847.17[63] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 16,985[12] - The largest shareholder, Zhou Yin Chun, held 41.74% of the shares, totaling 35,150,000 shares[12] Operational Insights - The company maintained stable operations in line with its 2020 annual business plan despite the impact of the COVID-19 pandemic[21] - The company faces significant risks from fluctuations in raw material prices, particularly copper powder, steel plates, copper sleeves, and copper plates, which can greatly impact gross margins and overall profitability[23] - The self-lubricating bearing industry is experiencing intensified competition, with many manufacturers entering the market, potentially affecting market share and profit margins for established companies like the company[23] - The automotive industry’s cyclical fluctuations and policy changes may lead to reduced orders and inventory buildup, negatively impacting the company's operational performance[25] - The company is actively developing new products and businesses to mitigate the impact of the automotive industry's downturn and enhance market share[25] Fundraising and Investments - The total amount of raised funds is approximately 335.76 million yuan, with 44.38 million yuan invested in the current quarter[28] - There have been no changes in the use of raised funds, with a cumulative investment of 44.38 million yuan to date[28] - The company is currently in the construction phase of its fundraising projects, executing according to planned progress[29] - The company temporarily used ¥10,000,000.00 of idle raised funds to supplement working capital, with ¥1,000,000.00 already utilized for bank loan repayment[30] Risks and Challenges - Exchange rate fluctuations pose a risk to the company's performance, particularly as export settlements are primarily in USD and EUR, with average collection periods of 30 to 90 days[25] - The company has not encountered any significant changes in the feasibility of its projects or any overdue commitments from stakeholders during the reporting period[26] - The company aims to enhance its technical and management capabilities to strengthen market competitiveness in response to changing market conditions[24] Inventory and Receivables - Accounts receivable rose by 33.55% to CNY 151.38 million, attributed to an increase in receivables within the credit period[19] - The company reported a total of ¥81,036,320.06 in inventory as of March 31, 2020, compared to ¥72,208,638.03 at the end of 2019, reflecting an increase of approximately 12.5%[37] - The company’s inventory stood at CNY 72,208,638.03, reflecting stable inventory management practices[62]

Dividend Policy - The company plans to distribute a cash dividend of 2.5 CNY per 10 shares (including tax) to all shareholders based on a total of 84,220,000 shares[5]. - The cash dividend distribution represents 100% of the total profit distribution for the year, with a minimum cash dividend ratio of 20% for companies in a growth phase with significant capital expenditures[97][98]. - The company has maintained a consistent and stable dividend policy, requiring board and shareholder approval for any changes[93]. - The company’s cumulative distributable profit for the year is RMB 316,814,699.13, ensuring sufficient funds for the proposed cash dividend[97]. - In 2019, the company distributed cash dividends totaling 21,055,000, accounting for 31.21% of the net profit attributable to ordinary shareholders[101]. - The company’s profit distribution policy emphasizes protecting shareholder interests and providing stable returns[93]. - The company’s cash dividend policy requires that the net profit available for distribution must be positive and that cash flow is sufficient[94]. - The company’s board must consider industry characteristics, development stage, and significant capital expenditure plans when proposing dividend distributions[94]. Financial Performance - The company reported a significant increase in user data, reflecting a growing customer base and demand for its products[5]. - The company’s operating revenue for 2019 was ¥529,584,726.03, a decrease of 8.41% compared to ¥578,217,997.02 in 2018[18]. - The net profit attributable to shareholders was ¥67,461,378.50, showing a slight increase of 0.24% from ¥67,297,220.62 in the previous year[18]. - The net profit after deducting non-recurring gains and losses decreased by 17.72% to ¥57,939,294.63 from ¥70,417,372.74 in 2018[18]. - The net cash flow from operating activities increased by 14.88% to ¥78,239,915.78, compared to ¥68,103,682.15 in 2018[18]. - Total assets at the end of 2019 were ¥622,501,924.71, an increase of 7.17% from ¥580,855,853.15 at the end of 2018[18]. - The net assets attributable to shareholders increased by 11.10% to ¥492,802,847.17 from ¥443,573,528.44 in 2018[18]. - The company reported a basic earnings per share of ¥1.07, unchanged from the previous year[18]. Research and Development - The company is focused on expanding its market presence and developing new products, particularly in the self-lubricating bearing sector[5]. - The company is actively engaged in research and development of new technologies to enhance product performance and market competitiveness[5]. - The company has a strong R&D capability in self-lubricating bearings and has obtained multiple invention patents and utility model patents[27]. - The company has developed various self-lubricating products tailored for different parts of vehicles, enhancing its competitive advantage in the market[28]. - Research and development expenses for 2019 were ¥27,215,055.26, which is 5.14% of the operating income, showing a significant increase from 4.06% in 2018[67]. - The company has invested 50 million RMB in R&D for new technologies, focusing on reducing production costs by 15%[182]. Market Position and Strategy - The company has achieved international quality standards for its sliding bearing products and exports to over 30 countries including the USA, Japan, and Germany[37]. - The company’s self-lubricating bearings and composite materials have been recognized as high-tech products by the Zhejiang Provincial Science and Technology Department[37]. - The company has established a strong online presence with its official website, enhancing its visibility and accessibility to customers[14]. - The company has a broad customer base across various industries, including automotive manufacturing and engineering machinery, which helps mitigate systemic business risks[44]. - The company plans to expand its product range and integrate upstream and downstream industries through potential mergers and acquisitions[50]. - New customer acquisitions in industries such as new energy vehicles and photovoltaic power generation are expected to drive future growth[51]. - The company aims to enhance brand competitiveness and financial support through a successful IPO, focusing on mergers and restructuring for greater wealth creation[82]. Risk Factors - The company has outlined potential risks in its future development outlook, which investors should pay attention to[5]. - The company faces risks from increased competition in the self-lubricating bearing market, which could impact market share and profit margins[85]. - The automotive industry's cyclical nature and policy changes regarding fuel vehicles may adversely affect the company's order volume and inventory management[86]. - The company is exposed to risks related to accounts receivable and potential bad debts due to rapid revenue growth and customer payment difficulties[87]. - Currency fluctuations, particularly in USD and EUR, could impact the company's export sales and overall financial performance[88]. - The company faces cash flow risks due to longer sales collection periods compared to supplier payment cycles, which may necessitate bank borrowing[88]. Corporate Governance - The company has established a comprehensive governance structure, including a board of directors and various committees to ensure compliance with laws and regulations[191]. - Independent directors actively participate in board meetings and committees, ensuring effective governance and oversight[192]. - The company has no significant discrepancies between its governance practices and the regulatory standards set by the China Securities Regulatory Commission[194]. - The company has established an independent financial accounting system and can make independent financial decisions, with no shared bank accounts with the controlling shareholder[196]. - The company's main business is the research, production, and sales of self-lubricating bearings and composite materials, demonstrating a complete business system and independent market operation capability[196]. Employee Management - The total number of employees in the company is 927, with 663 in the parent company and 264 in major subsidiaries[185]. - The professional composition includes 526 production personnel, 57 sales personnel, and 111 technical personnel[185]. - The company emphasizes talent development and training, aiming to build a learning and innovative workforce[188]. - Management personnel's compensation consists of a fixed monthly salary, monthly performance bonus, and annual performance bonus[187]. Compliance and Legal Matters - The company did not experience any major litigation or arbitration matters during the reporting period[124]. - There were no penalties or rectification issues faced by the company during the reporting period[125]. - The company confirmed that there were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[117]. - The company has not engaged in any significant related party transactions during the reporting period, including daily operations, asset acquisitions, or joint investments[127][128][129][130][131].