Cash Flow and Operating Activities - The net cash flow from operating activities was -488,059,108.94 CNY, compared to -402,557,418.44 CNY in the previous year, indicating a decline of approximately 21.3%[2] - Total operating cash inflow reached 602,302,483.48 CNY, up from 443,271,205.36 CNY, reflecting an increase of about 35.9%[2] - Cash outflow from operating activities increased to 1,090,361,592.42 CNY, compared to 845,828,623.80 CNY, marking a rise of approximately 29.0%[2] - The company's cash flow from operating activities showed a net outflow of ¥488,059,108.94, which is a 21.24% increase in outflow compared to ¥402,557,418.44 in the same period last year[36] - The net cash flow from financing activities was -¥17,561,029.46, an improvement from -¥30,483,353.40 in the previous year, indicating better cash management[46] Assets and Liabilities - The company's total current assets rose to 4,275,145,889.77 CNY from 4,142,983,025.48 CNY, an increase of about 3.2%[3] - The total liabilities increased to 3,682,610,027.38 CNY from 3,586,954,883.91 CNY, reflecting a growth of approximately 2.7%[6] - The company's total assets increased to 4,760,736,155.97 CNY from 4,615,016,490.83 CNY, representing a growth of about 3.2%[6] Revenue and Profit - Total operating revenue for Q1 2023 reached ¥620,146,996.73, a significant increase of 184.83% compared to ¥218,064,588.66 in the same period last year[14] - Total operating costs for Q1 2023 were ¥581,239,182.95, up 179.00% from ¥208,180,030.27 in Q1 2022[14] - Net profit for Q1 2023 was ¥36,516,585.64, representing a 126.80% increase from ¥16,115,560.54 in Q1 2022[16] - The total profit for Q1 2023 was ¥37,421,312.52, an increase of 148.00% from ¥15,025,642.91 in the previous year[16] - The net profit attributable to shareholders for Q1 2023 was ¥36,516,585.64, up 126.59% from ¥16,115,560.54 in Q1 2022[36] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥31,965,521.03, reflecting a 120.17% increase from ¥14,518,549.45 in the previous year[36] Expenses - Research and development expenses increased to ¥34,027,855.63, up 83.61% from ¥18,526,866.95 in the previous year[14] - The company experienced a 332.51% rise in non-operating expenses, totaling ¥105,317.03 compared to ¥24,349.93 in Q1 2022[29] - The company reported a tax expense of ¥904,726.88, a significant increase from a tax benefit of -¥1,089,917.63 in Q1 2022[29] - Research and development expenses for Q1 2023 were ¥34,027,855.63, an increase of 83.67% from ¥18,526,866.95 in the previous year, indicating a focus on innovation[38] - The company experienced a 72.07% decrease in employee compensation payable, amounting to ¥9,770,542.56, due to the payment of last year's bonuses[38] Shareholder Information - The total number of common shareholders at the end of the reporting period is 30,579[48] - The largest shareholder, Wu Qiang, holds 21.34% of the shares, amounting to 50,706,000 shares[48] - The second-largest shareholder, Duan Yuhe, holds 9.95% of the shares, totaling 23,653,012 shares[48] - The third-largest shareholder, Wuxi Shuo Hong Investment, owns 8.86% of the shares, which is 21,060,000 shares[48] - The top ten unrestricted shareholders include Duan Yuhe with 5,913,253 shares and Jiang Zhengmao with 4,830,120 shares[49] - Wu Qiang, the controlling shareholder, holds significant stakes in multiple investment firms, including 48.95% in Shuo Hong Investment[49] Other Financial Metrics - The cash received from investment activities was 149,599,269.56 CNY, down from 175,136,509.15 CNY, indicating a decrease of about 14.6%[2] - The cash outflow from investment activities was 161,013,303.16 CNY, compared to 186,862,212.47 CNY, showing a decline of approximately 13.8%[2] - The cash received from loans was 69,861,117.00 CNY, compared to 42,000,000.00 CNY, reflecting an increase of approximately 66.5%[2] - Investment income surged by 525.06% to ¥853,269.56 from ¥136,509.15 in the same quarter last year[29] - The company reported a significant increase in interest income, which rose by 446.86% to ¥5,387,535.49 compared to ¥985,170.39 in Q1 2022[29] - Earnings per share for Q1 2023 were ¥0.15, compared to ¥0.07 in the same quarter last year[16] - The basic earnings per share for Q1 2023 was ¥0.15, an increase of 114.29% compared to ¥0.07 in Q1 2022[36] Audit Status - The first quarter report has not been audited[51]

Market Position and Performance - The company ranked first in the domestic market for energy storage PCS shipments in 2022, according to the China Energy Storage Industry Technology Alliance (CNESA) statistics[2]. - The company has secured significant results in domestic market tenders, reinforcing its leading position in the ground-mounted photovoltaic power station sector[36]. - The global new energy storage installation capacity reached 12,166 MW in 2022, indicating a growing market[47]. - The company achieved a sales revenue of 830 million yuan from domestic ground photovoltaic inverters in 2022, representing a year-on-year growth of 31.78%[122]. - As of the end of the reporting period, the company had over 12 GW of orders for domestic ground photovoltaic inverters[122]. - The company is focusing on expanding its domestic ground photovoltaic business to capture a larger market share, especially with the anticipated rapid growth in installed capacity in 2023[122]. - The company is expanding its overseas market presence, focusing on large-scale energy storage projects in North America and distributed energy storage in Europe[36]. - The company has established sales companies in Europe, the Middle East, and India, aiming to expand its global sales service network and has secured multiple large-scale orders, including a 240MW project in Spain and a 746MW project in Saudi Arabia[137]. Financial Performance - Total revenue for 2022 reached ¥2,338,541,793.58, a 114.08% increase from ¥1,092,374,265.79 in 2021[50]. - Revenue from the photovoltaic industry was ¥1,224,240,727.17, accounting for 52.35% of total revenue, with a year-on-year growth of 38.62%[50]. - Revenue from the energy storage industry surged to ¥1,021,585,640.07, representing 43.69% of total revenue, with an impressive year-on-year increase of 621.85%[50]. - The company achieved operating revenue of 2.339 billion yuan, a year-on-year increase of 114.08%, and a net profit attributable to shareholders of 81.5649 million yuan, up 38.46% year-on-year[135]. - The cash flow from operating activities was 151 million yuan, reflecting a year-on-year increase of 34.42%[135]. - The net profit attributable to shareholders for 2022 was CNY 81,564,868.27, a 38.46% increase from the previous year[184]. - The net cash flow from operating activities for 2022 was CNY 150,562,115.61, up 34.42% from 2021[184]. - The basic earnings per share for 2022 was CNY 0.34, a 36.00% increase compared to 2021[184]. Research and Development - The company's research and development investment reached 144 million yuan, accounting for 6.17% of revenue, with a year-on-year increase of 55.40%[12]. - The company has established four major R&D centers in Shenzhen, Wuxi, Chengdu, and Suzhou, with R&D personnel accounting for 26.48% of the total workforce[11]. - The company has obtained 188 authorized patents, supporting its leading position in R&D and innovation[14]. - The company is developing a new generation of high-power centralized inverters, aiming for industry-leading performance metrics[70]. - The company is committed to increasing its R&D investment and talent acquisition to enhance its competitiveness in the photovoltaic and energy storage sectors[138]. - The company has increased its R&D personnel to 269 in 2022, a rise of 20.09% from 224 in 2021[86]. Product Development and Innovation - The maximum efficiency of the company's inverters has exceeded 99%, achieved through the use of advanced semiconductor materials and innovative control algorithms[10]. - The company has launched multiple new technology solutions, including integrated inverter and boost technology, and has received positive market feedback[11]. - The company is enhancing its distributed inverter series to improve competitiveness in both domestic and overseas markets[73]. - New products are being developed to meet the growing demand for household string inverters, with significant improvements in performance and cost[73]. - The company is focused on enhancing its competitive edge in the energy storage sector through continuous technological investments and improvements[77]. - The company is developing a broadband PLC project for wireless communication in photovoltaic sub-arrays, aiming to reduce installation and maintenance costs[82]. Operational Efficiency and Management - The company has implemented a new KPI assessment system to enhance management efficiency and optimize operational performance[48]. - The company is advancing its information technology infrastructure, integrating automation in new facilities to improve operational efficiency[48]. - The company aims to optimize its management level through collaboration with external consulting firms and the introduction of digital operational frameworks[138]. - The company has established a transparent performance evaluation system for senior management, ensuring accountability and compliance with legal standards[170]. Supply Chain and Risk Management - The main raw materials used in the company's products are electronic components, with IGBT power modules being the core component, primarily sourced from foreign manufacturers[159]. - The company has strengthened strategic partnerships with suppliers and optimized its supplier structure to ensure supply chain security[160]. - The company faces risks related to policy changes, potential declines in gross margins, and large accounts receivable, and has outlined measures to mitigate these risks[142][143][151]. - The company is actively monitoring industry supply dynamics to mitigate risks associated with raw material shortages and price volatility[160]. Investor Relations and Corporate Governance - The company has conducted various investor communication activities to discuss its operational performance and future development outlook for 2023[163]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[168]. - The company emphasizes investor relations management, providing multiple channels for investor communication and feedback[169]. - The company maintains complete control and ownership of its assets, ensuring no asset or funds are misappropriated by the controlling shareholder[188].

上能电气股份有限公司 投资者关系的活动记录表 股票简称：上能电气 证券代码：300827 编号：2020-001 | --- | --- | --- | |------------------------|------------------------|------------------------------| | | | | | | | □特定对象调研 □分析师会议 | | | □媒体采访 □业绩说明会 | | | 投资者关系活动类别 | □ | 新闻发布会 □路演活动 | | | ■现场参观 □其他 | | | | 1、华创证券 杨达伟 | | | 参与人员姓名及单位名称 | 2、广发基金 曹越 | | | | 3 、长信基金 张凯 | | | 时间 | 2020 年 6 月 5 | 日 10:00 | | 地点 | 无锡市惠山区和惠路 | 6 号上能电气股份有 | | | 限公司二楼会议室 | | | | 董事长：吴强 | | | 公司接待人员姓名 | | 董事会秘书兼财务总监：陈运萍 | | | | 解决方案事业部副总经理：王莉 | | | 证券事务代表：万迎花 | | 投资者关系活动主要内容介 ...

上能电气股份有限公司 投资者关系的活动记录表 股票简称：上能电气 证券代码：300827 编号：2020-002 | --- | --- | --- | |------------------------|------------------------|------------------------------| | | | | | | | □特定对象调研 □分析师会议 | | | □媒体采访 □业绩说明会 | | | 投资者关系活动类别 | □ 新闻发布会 □路演活动 | | | | ■电话会议 □现场参观 | | | | 1 、华创证券 杨达伟 | | | | 2 、华泰证券 孙纯鹏 | | | 参与人员姓名及单位名称 | 3 、中信证券 林劼 | | | | 4 、新时代证券 丁亚 | | | | 5 、华安基金 辛蔚 | | | 时间 | 2020 年 9 月 8 | 日 15:30 | | 地点 | 无锡市惠山区和惠路 | 6 号上能电气股份有 | | | 限公司三楼会议室 | | | 公司接待人员姓名 | 董事长：吴强 | | | | | 董事会秘书兼财务总监：陈运萍 | | --- | -- ...

上能电气股份有限公司 投资者关系的活动记录表 股票简称：上能电气 证券代码：300827 编号：2020-003 | --- | --- | --- | --- | |------------------------|-------|--------------------------|-----------------------------------| | | | | | | | | | ■特定对象调研 □分析师会议 | | | | □媒体采访 □业绩说明会 | | | 投资者关系活动类别 | | □ 新闻发布会 □路演活动 | | | | | □电话会议 □现场参观 | | | 参与人员姓名及单位名称 | | 1 、华创证券 杨达伟 | | | | | 2 | 、兴业证券 范昭楠、陶宇鸥、陈俊哲 | | | | 3 、中信证券 林劼 | | | | | 4 、中金证券 蒋昕昊 | | | | | 5 | 、国泰君安 庞钧文、胥本涛 | | | | 6 、申万宏源 张雷 | | | | | 7、华安基金 李欣、辛蔚 | | | | | 8 、华商基金 陈夏琼 | | | | | 9 、汇蠡投资 许成 王 ...

上能电气股份有限公司 投资者关系的活动记录表 股票简称：上能电气 证券代码：300827 编号：2021-002 | --- | --- | --- | |------------------------|-----------------------------|---------------------------| | | | | | | | ■特定对象调研 □分析师会议 | | | | □媒体采访 □业绩说明会 | | 投资者关系活动类别 | □新闻发布会 □路演活动 | | | | □现场参观 □其他 | | | | 1 、中金证券 | 蒋昕昊、张钰琪 | | | 2 、光大控股 | 陆宇 | | | 3 、天际线投资 | 陈晓坚 | | | 4 、羲和资产 | 侯兵、张鹏 | | | 5 、华泰证券 孙纯鹏 | | | | 6 、中信证券 华鹏伟、张志强 | | | | 7 、三峡资本 赤东阳、邱莳 | | | | 8、招商基金 巫亚军 | | | | 9、国泰君安 叶益 | | | 参与人员姓名及单位名称 | 10 、五矿国际信托 王子振 | | | | 11 、华泰证券 | 孙纯鹏 | | | ...

Group 1: Overseas Market Expansion - The company's overseas revenue accounted for 34.41% in the first half of the year, primarily from countries like India, South Korea, Jordan, Sweden, and Greece, with products covering over 20 countries and regions [2] - The company plans to expand into the North American large-scale energy storage market and the distributed photovoltaic and household storage markets in Europe [2] Group 2: Domestic Household Photovoltaic Market - The company launched 8-28kW household inverters in November last year, starting mass production in March, achieving significant application in key regions [3] - A new 30-40kW household inverter model was released in July, completing the domestic household inverter series [3] - The company is working on certifications for 3-40kW three-phase household inverters for major European countries and Southeast Asia, with household storage inverters expected to launch in Q1 next year [3] Group 3: Large Ground Power Stations - The domestic photovoltaic market is expected to see significant growth during the "14th Five-Year Plan" period, driven by carbon neutrality goals and large base projects [4] - The development of large-scale wind and solar power bases in desert and barren areas is a key focus for national renewable energy development [4] - The market for large ground power stations is anticipated to maintain a high growth rate in installed capacity [4] Group 4: Energy Storage Market - The profitability of large-scale energy storage is under pressure due to increased competition, necessitating cost reductions at the system integration level [5] - The "14th Five-Year Plan" indicates that new energy storage will transition from commercialization to large-scale development by 2025 [5] - The company’s energy storage inverters have a competitive edge due to years of technological accumulation, with expected improvements in profitability as scale effects become more pronounced [5] Group 5: Technology and Production Capacity - The company prefers low-voltage, high-power tower-type PCS technology over high-voltage cascade PCS due to its advantages in application flexibility, system safety, and maintenance [6] - The company has completed its IPO project for energy storage expansion, meeting current production demands, while the convertible bond project is progressing smoothly [7] Group 6: Financial Performance - The company's net profit declined due to tight supply of key raw materials like IGBT and increased R&D and sales channel investments [8] - As of June 30, 2022, the company had over 2 billion yuan in hand orders, with expectations for significant growth in shipments in the second half of the year [8]

Revenue and Profitability - The company's revenue for Q3 2022 reached ¥644,506,345.14, representing a 156.13% increase compared to ¥251,627,800.74 in the same period last year[6] - Net profit attributable to shareholders was ¥22,447,731.88, an increase of 8.80% from ¥20,632,823.70 year-on-year[6] - The net profit excluding non-recurring gains and losses was ¥17,613,257.58, showing a decrease of 2.36% from ¥18,039,268.91 in the previous year[6] - The company's operating revenue for the current period reached ¥1,065,926,542.82, a 64.51% increase compared to ¥647,959,613.34 in the previous period, primarily driven by the growth in energy storage business[18] - The net profit for the third quarter was 45,410,296.10, an increase from 44,564,250.00 in the previous year, representing a growth of approximately 1.9%[36] - Operating profit reached 42,611,417.94, compared to 37,965,440.17 in the same period last year, indicating an increase of about 12.5%[36] - The company reported a total comprehensive income of 44,483,501.65, slightly higher than 44,147,153.90 from the previous year[38] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,942,034,264.39, a 46.16% increase from ¥2,697,088,332.87 at the end of the previous year[6] - The total liabilities increased to ¥2,967,767,040.84 from ¥1,808,634,822.52, reflecting a rise of approximately 64%[32] Cash Flow and Financial Activities - The company's cash flow from operating activities for the year-to-date was ¥345,656,307.17, a decrease of 38.84% compared to ¥248,956,283.70 in the same period last year[6] - Cash received from sales of goods and services rose by 134.12% to ¥1,424,837,832.61, compared to ¥608,595,966.90 in the previous period, indicating strong sales performance[18] - The company reported a significant increase in cash flow from operating activities, indicating improved liquidity and operational efficiency[18] - Cash flow from operating activities showed a net outflow of -345,656,307.17, worsening from -248,956,283.70 in the previous year[42] - The investment activities generated a net cash outflow of -160,661,989.06, contrasting with a net inflow of 32,804,141.08 in the previous year[42] Inventory and Operating Costs - The inventory increased by 79.78% to ¥1,254,459,460.80 from ¥697,783,021.75 at the beginning of the year, indicating a strategy of increased stockpiling[13] - Operating costs increased by 78.43% to ¥885,508,495.81 from ¥496,281,323.24, also attributed to the rise in energy storage business[18] - Total operating costs amounted to ¥1,035,717,782.96, up from ¥625,639,036.46, indicating a year-over-year increase of about 65.5%[33] Shareholder Information - The total number of common shareholders at the end of the reporting period was 40,286, with the largest shareholder holding 21.34% of the shares[22] Research and Development - Research and development expenses for the quarter were ¥70,827,983.84, compared to ¥60,707,654.28 in the previous year, showing an increase of about 16.5%[33] Future Outlook - Future outlook includes plans for market expansion and potential new product launches, although specific details were not disclosed in the current report[34]

Market Opportunities and Growth - The company reported a significant increase in market opportunities for photovoltaic and energy storage industries due to global low-carbon transition policies, with a focus on expanding both domestic and international markets to mitigate policy risks[6] - The company aims to diversify its business by increasing domestic and international sales of energy storage products to mitigate the impact of policy changes in a single industry[6] - The company has reported a significant growth in user data and customer base, reflecting its expanding market presence[6] - The company is actively expanding into overseas markets, particularly in Europe and the United States[51] - The company’s energy storage business is experiencing rapid growth, with its first overseas 100 MW energy storage project successfully shipped in July 2022[87] - The company has established strategic partnerships with major global firms, expanding its presence in international markets such as India, Singapore, and Brazil[95] - The company plans to expand its customer base in the domestic photovoltaic market and accelerate the development of high-end overseas markets to mitigate policy risks[134] Financial Performance - The company achieved operating revenue of CNY 421,420,197.68, representing a 6.33% increase compared to the same period last year[42] - The net profit attributable to shareholders was CNY 22,962,564.22, a decrease of 4.05% year-on-year[42] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 18,592,530.10, reflecting a 1.23% increase from the previous year[42] - The net cash flow from operating activities was CNY -372,612,771.79, a decline of 64.69% compared to the same period last year[42] - Total assets at the end of the reporting period were CNY 3,165,862,442.61, an increase of 17.38% from the end of the previous year[42] - Net assets attributable to shareholders reached CNY 949,202,107.12, up 6.84% from the previous year[42] - The company's operating revenue for the first half of 2022 was ¥421,420,197.68, representing a year-on-year increase of 6.33% compared to ¥396,331,812.60 in the same period last year[99] - The company reported a total revenue of 1.5 billion RMB for the first half of 2022, representing a year-on-year increase of 20%[170] Research and Development - The company plans to enhance R&D investments and accelerate the launch of new products to meet diverse market demands, aiming to improve pricing power and reduce product costs[10] - The company continues to focus on R&D in power electronic devices, enhancing its product offerings in photovoltaic inverters and energy storage systems[51] - The company has established three major R&D centers and has been recognized for its innovative technologies in photovoltaic inverters, winning multiple awards[89] - The company has a total of 155 authorized patents, including 16 invention patents, enhancing its competitive edge in the market[91] - Investment in R&D increased by 30% compared to the previous year, focusing on innovative technologies in the energy sector[173] Risk Management - The company has experienced a substantial increase in accounts receivable due to rapid business growth, which poses a risk of bad debts; measures will be taken to strengthen receivables management[11] - The company is facing risks related to exchange rate fluctuations as its export business grows; it will enhance research on currency trends and utilize hedging tools to mitigate these risks[12] - The company is addressing supply chain risks related to core raw materials, particularly IGBT power modules, by strengthening strategic partnerships with suppliers[18] - The company anticipates a potential decline in gross profit margins due to rising raw material costs and increased competition in the photovoltaic sector[7] - The company aims to increase R&D investment and optimize product offerings to address potential gross margin decline risks[135] - The company will enhance accounts receivable management to reduce the risk of bad debts due to increased customer numbers[135] - The company is monitoring foreign exchange fluctuations closely to manage currency risk associated with its growing export business[135] - The company is strengthening strategic partnerships with suppliers to mitigate core raw material supply risks[140] Corporate Governance and Social Responsibility - The company is committed to environmental protection and adheres to national laws and regulations, focusing on green energy development[151] - The company emphasizes social responsibility, legal compliance, and communication with stakeholders, actively participating in social welfare initiatives[152] - The company has implemented a governance structure to protect shareholder rights and ensure fair information disclosure[153] - The company provides training and development opportunities for employees, ensuring compliance with labor laws and regulations[154] - The company maintains a customer-centric approach, ensuring product quality and providing comprehensive after-sales service[158] - The company has made commitments regarding share transfer restrictions for its major shareholders, ensuring compliance with regulatory requirements[162] Future Plans and Strategies - The company expects a revenue growth forecast of 25% for the second half of 2022, driven by new product launches and market expansion strategies[172] - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2023[174] - A strategic acquisition of a local competitor is anticipated to enhance the company's product offerings and customer base, expected to be finalized by Q4 2022[175] - The company has committed to a share buyback program, aiming to repurchase up to 5% of its total shares within the next 12 months[176] - The dividend policy remains stable, with a commitment to distribute at least 30% of net profits as dividends to shareholders annually[177] - The company aims for a minimum cash dividend ratio of 80% during profit distribution when in a mature development stage without significant capital expenditure plans[192]

Financial Performance - The company's operating revenue for Q1 2022 was CNY 218,064,588.66, representing a 36.29% increase compared to CNY 159,997,895.76 in the same period last year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 16,115,560.54, reflecting a 3.52% increase from CNY 15,567,666.36 in the previous year[3]. - Total operating revenue for the first quarter was CNY 218,064,588.66, an increase of 36.1% compared to CNY 159,997,895.76 in the previous year[27]. - Net profit for the quarter reached CNY 16,115,560.54, representing a 3.5% increase from CNY 15,567,666.36 in the prior year[29]. - The company reported a comprehensive income total of CNY 15,458,053.57, slightly down from CNY 15,516,176.62 in the previous year[33]. Cash Flow - The net cash flow from operating activities was negative CNY 402,557,418.44, a decrease of 96.84% compared to negative CNY 204,509,081.55 in the same period last year[3]. - Total cash inflow from operating activities was 443,271,205.36 CNY, significantly up from 174,198,465.24 CNY, representing an increase of about 154.5%[34]. - Cash outflow from operating activities totaled 845,828,623.80 CNY, compared to 378,707,546.79 CNY in the previous period, marking an increase of approximately 123.8%[34]. - The net cash flow from financing activities was -30,483,353.40 CNY, an improvement from -36,544,747.25 CNY in the previous period[37]. - The ending balance of cash and cash equivalents was 238,601,478.07 CNY, down from 346,371,702.64 CNY, indicating a decrease of approximately 31.1%[37]. Assets and Liabilities - The company's total assets decreased by 7.05% to CNY 2,506,836,796.72 from CNY 2,697,088,332.87 at the end of the previous year[5]. - The total liabilities decreased to CNY 1,602,925,232.80 from CNY 1,808,634,822.52, reflecting a reduction of 11.4%[27]. - The company's total current assets decreased to ¥2,096,084,545.30 from ¥2,270,965,346.50, reflecting a decline of approximately 7.66%[21]. - Total assets decreased to ¥2,506,836,796.72 from ¥2,697,088,332.87, a reduction of approximately 7.07%[21]. Equity and Shareholder Information - The total equity attributable to shareholders increased by 1.74% to CNY 903,911,563.92 from CNY 888,453,510.35 at the end of the previous year[5]. - The total equity attributable to shareholders increased to CNY 903,911,563.92 from CNY 888,453,510.35, marking a growth of 1.5%[27]. - Total number of ordinary shareholders at the end of the reporting period was 27,415, with the largest shareholder, Wu Qiang, holding 21.34% of shares[14]. Research and Development - The company's R&D expenses increased by 31.19% to CNY 18,526,866.95, up from CNY 14,121,737.00 in the previous year, indicating a focus on innovation[10]. - Research and development expenses were CNY 18,526,866.95, which is a 31.5% increase compared to CNY 14,121,737.00 in the previous year[29]. Financial Expenses - The company’s financial expenses surged by 317.14% to CNY 6,203,803.30, primarily due to increased interest expenses and exchange losses[10]. - The financial expenses for the quarter were CNY 6,203,803.30, compared to a negative CNY 2,857,003.68 in the same period last year[29]. Inventory and Receivables - Inventory increased to ¥793,257,429.89, up from ¥697,783,021.75, indicating a growth of about 13.68%[21]. - The company reported a significant increase in other receivables, rising to ¥41,018,016.63 from ¥24,942,459.23, an increase of about 64.61%[20]. Government Subsidies - The company received government subsidies amounting to CNY 1,662,996.79 during the reporting period, contributing to its financial performance[6].