Financial Performance - The company's operating revenue for Q3 2022 was ¥52,037,586.40, a decrease of 20.35% compared to the same period last year[5] - Net profit attributable to shareholders for Q3 2022 was ¥14,695,134.95, down 51.15% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥13,056,432.54, a decline of 55.15% compared to the previous year[5] - The company's basic and diluted earnings per share for Q3 2022 were both ¥0.0459, down 51.17% year-on-year[5] - Total operating revenue for Q3 2022 was CNY 136,449,663.77, a slight increase from CNY 136,401,885.73 in Q3 2021, representing a growth of 0.035%[20] - Operating profit for the period was CNY 53,109,349.77, up from CNY 47,937,082.77, indicating an increase of about 4.9%[21] - Net profit for Q3 2022 reached CNY 46,272,210.40, compared to CNY 41,598,262.99 in the same period last year, reflecting a growth of approximately 11.5%[21] - Earnings per share (EPS) for Q3 2022 was CNY 0.1445, an increase from CNY 0.1296 in Q3 2021, representing a growth of about 12.1%[21] - The total comprehensive income for the period was CNY 46,272,210.40, compared to CNY 41,598,262.99 in the previous year, reflecting an increase of approximately 11.5%[21] Cash Flow and Liquidity - The cash flow from operating activities for the year-to-date period reached ¥87,488,107.49, an increase of 2,030.13% compared to the same period last year[5] - The net cash flow from operating activities for the period was ¥87,488,107.49, a significant increase from ¥4,107,179.29 in the previous period, reflecting strong operational performance[23] - Total cash inflow from investment activities was ¥574,662,636.79, compared to ¥382,739,027.76 in the prior period, indicating increased investment recovery[23] - The net cash flow from investment activities was -¥27,887,853.16, an improvement from -¥198,126,213.68 year-over-year, showing reduced cash outflow[23] - Cash and cash equivalents at the end of the period totaled ¥328,452,747.58, up from ¥253,435,121.75 in the previous period, indicating improved liquidity[24] - The company reported cash received from the recovery of investments at ¥570,000,000.00, compared to ¥380,000,000.00 in the prior period, highlighting effective investment management[23] - The total cash inflow from operating activities was ¥194,167,336.46, compared to ¥107,965,078.29 in the previous period, reflecting robust sales growth[23] - The cash flow from operating activities was significantly higher than the previous year, demonstrating improved operational efficiency and revenue generation[23] Assets and Liabilities - Total assets at the end of Q3 2022 were ¥927,195,569.02, reflecting a growth of 4.85% from the end of the previous year[5] - Total current assets reached ¥773,817,937.81, an increase from ¥724,543,726.01 at the beginning of the year, indicating a growth of about 6.8%[17] - The company's inventory increased to ¥102,593,320.46, up from ¥90,307,029.96, reflecting a growth of approximately 13.5%[17] - Non-current assets totaled ¥153,377,631.21, a decrease from ¥159,758,218.22 at the beginning of the year, indicating a decline of about 4.8%[17] - Total liabilities increased to CNY 83,083,136.87 from CNY 76,861,722.48, showing a rise of approximately 8.8%[20] - Total equity attributable to shareholders rose to CNY 843,344,647.45 from CNY 806,698,121.33, indicating an increase of about 4.5%[20] Shareholder Information - The total number of common shareholders at the end of the reporting period is 35,540[12] - The largest shareholder, Xi'an Power Electronics Technology Research Institute, holds 39.55% of shares, totaling 126,574,080 shares[12] - The company has not disclosed any related party relationships among its top shareholders[13] Government Subsidies and Other Income - The company received government subsidies amounting to ¥208,520.61 in Q3 2022, with a total of ¥411,209.56 for the year-to-date period[6] - The company experienced a 1769.63% increase in other income, primarily due to increased government subsidies received during the reporting period[10] Research and Development - Research and development expenses for the quarter were CNY 5,837,543.68, compared to CNY 5,175,197.23 in the previous year, reflecting an increase of approximately 12.8%[20] Investment and Project Development - The company is in the process of revising its feasibility study report for its fundraising project due to changes in the industry and macro environment[15] - The company has acquired land use rights for a new project, with a net area of 60,024.6 square meters (approximately 90.037 acres)[14] - The company is currently reviewing and revising its investment return metrics to better protect the interests of minority investors[15] Financial Management - The company reported a financial income of CNY 5,144,027.31, slightly up from CNY 5,119,013.40, indicating a marginal increase of about 0.5%[20] - The cash outflow for financing activities was ¥9,712,198.10, an increase from ¥5,440,000.00 in the previous period, primarily due to higher dividend payments[24] - The company paid ¥40,054,707.33 in employee compensation, up from ¥38,384,247.94, indicating a focus on workforce investment[23] - The company experienced a foreign exchange gain of ¥187,761.03, contrasting with a loss of -¥33,293.80 in the previous period, reflecting favorable currency movements[24]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥84,412,077.37, representing an increase of 18.78% compared to ¥71,068,791.11 in the same period last year[21]. - The net profit attributable to shareholders for the first half of 2022 was ¥31,551,391.17, a significant increase of 177.02% from ¥11,389,461.15 in the previous year[21]. - The net cash flow from operating activities reached ¥85,166,611.36, marking a substantial increase of 1,242.66% compared to ¥6,343,148.29 in the same period last year[21]. - The basic earnings per share for the first half of 2022 was ¥0.0986, up 176.97% from ¥0.0356 in the previous year[21]. - The gross profit margin for power electronic devices was 23.64%, with a significant increase of 443.83% in revenue compared to the previous year[43]. - The company's revenue for the reporting period reached ¥84,412,077.37, representing an 18.78% increase compared to ¥71,068,791.11 in the same period last year[41]. - The company's R&D investment increased by 13.64% to ¥3,553,925.62, up from ¥3,127,365.84 in the previous year[41]. - The company's cash and cash equivalents increased by 143.70% to ¥56,124,922.48, compared to a decrease of ¥128,421,482.48 in the previous year[41]. - The company's operating costs decreased by 1.97% to ¥42,300,463.12, down from ¥43,149,256.19 in the previous year[41]. - The company reported a total comprehensive income of ¥31,713,680.47, significantly higher than ¥10,702,772.28 in the previous year, representing an increase of about 195.5%[135]. Assets and Liabilities - Total assets at the end of the reporting period were ¥910,063,038.71, reflecting a 2.91% increase from ¥884,301,944.23 at the end of the previous year[21]. - The total liabilities as of June 30, 2022, were RMB 105,068,130.39, compared to RMB 107,000,000.00 at the beginning of the year, showing a decrease of approximately 1.8%[123]. - The total equity attributable to shareholders reached ¥828,649,512.50, up from ¥806,698,121.33, indicating a growth of 2.6%[127]. - The company's accounts receivable decreased to RMB 87,920,976.45 from RMB 138,284,012.48, a decline of about 36.3%[122]. - The total current assets rose to RMB 755,171,288.81, up from RMB 724,543,726.01, indicating an increase of about 4.2%[122]. Research and Development - The main business focus remains on the research and production of power semiconductor devices, with no significant changes during the reporting period[30]. - The company has a R&D team of over 150 members, accounting for approximately 42.74% of the total workforce[35]. - The company submitted 8 patent applications during the reporting period, including 2 inventions and 3 that have been approved[38]. - The company aims to enhance its core competitiveness and innovation capabilities to become a leading international power electronics equipment manufacturer[77]. - The company is focusing on enhancing its research and development capabilities to drive innovation in semiconductor technology[145]. Market Position and Strategy - The company has a strong market position in high voltage, high power, and large diameter thyristors, leading the domestic market share[30]. - The company has developed proprietary technologies, including high-pressure thyristor full pressure connection technology and high-pressure low-temperature welding technology[34]. - The company’s high-power semiconductor devices are critical components in ultra-high voltage direct current transmission projects, recognized by major state-owned power companies[33]. - The company plans to continue investing in new product development and market expansion strategies to enhance its competitive position[145]. - The company is exploring potential mergers and acquisitions to expand its market presence and product offerings[145]. Financial Management and Governance - The company actively engages with shareholders and investors, ensuring transparency and adherence to legal regulations[77]. - The company has established a robust internal control system to safeguard both shareholder and creditor interests[77]. - The company has no major shareholder or related party occupying company funds, ensuring financial integrity[78]. - The company has committed to a cash dividend amount not less than 20% of the distributable profit for the year, provided the net profit is positive and there are no significant external investment plans or cash expenditures[80]. - The company plans to distribute cash dividends with a minimum proportion of 80% during profit distribution if it is in a mature development stage without significant capital expenditure arrangements[82]. Environmental and Regulatory Compliance - There were no significant environmental penalties or issues reported during the period, and the company complied with all environmental regulations[76]. - The company continues to invest in environmental protection and adheres to strict environmental standards in its operations[78]. Financial Reporting and Accounting Policies - The financial report for the first half of 2022 was not audited[120]. - The company adheres to the Chinese Accounting Standards, ensuring that the financial statements accurately reflect its financial position and performance as of June 30, 2022[162]. - The financial statements are prepared based on the going concern assumption, with no significant doubts regarding the company's ability to continue operations[160]. - The company has established specific accounting policies for revenue recognition, financial asset impairment, and inventory valuation based on its operational characteristics[161].

Financial Performance - The company's revenue for Q1 2022 was ¥33,217,161.10, representing a 93.92% increase compared to ¥17,129,321.06 in the same period last year[3] - Net profit attributable to shareholders reached ¥12,136,770.85, a significant increase of 2,953.22% from ¥397,506.82 year-on-year[3] - The net profit after deducting non-recurring gains and losses was ¥10,613,037.82, up 4,324.27% from ¥239,881.97 in the previous year[3] - Basic earnings per share rose to ¥0.0379, reflecting a 3,058.33% increase from ¥0.0012 year-on-year[3] - The total operating revenue for Q1 2022 was CNY 33,217,161.10, a significant increase of 93.9% compared to CNY 17,129,321.06 in the same period last year[19] - The net profit for Q1 2022 reached CNY 12,125,382.06, a substantial increase from CNY 445,276.99 in Q1 2021, representing a growth of 2,628.5%[20] - The operating profit for Q1 2022 was CNY 13,861,586.13, compared to CNY 888,982.44 in the previous year, indicating a growth of 1,558.5%[20] Cash Flow - The net cash flow from operating activities was ¥57,148,488.28, a 759.04% increase compared to -¥8,671,443.96 in the same period last year[3] - Cash inflow from operating activities totaled ¥97,147,578.57, compared to ¥22,319,194.45 in Q1 2021, indicating a year-over-year increase of approximately 335%[23] - The cash outflow from operating activities was ¥39,999,090.29, up from ¥30,990,638.41 in the previous year, representing a 29% increase[23] - The net cash flow from investing activities was negative at -¥29,199,058.42, an improvement from -¥269,797,115.21 in Q1 2021[24] - The net increase in cash and cash equivalents for the quarter was ¥27,942,285.28, contrasting with a decrease of ¥278,488,688.76 in the previous year[24] - The ending balance of cash and cash equivalents was ¥306,319,215.60, compared to ¥174,438,761.18 at the end of Q1 2021, reflecting a year-over-year increase of approximately 75%[24] Assets and Liabilities - Total assets at the end of the reporting period were ¥885,442,352.41, a slight increase of 0.13% from ¥884,301,944.23 at the end of the previous year[3] - The total liabilities for Q1 2022 were CNY 65,876,748.60, down from CNY 76,861,722.48 in the previous quarter, a decrease of 14.3%[18] - The equity attributable to shareholders of the parent company increased to CNY 818,834,892.18 from CNY 806,698,121.33, reflecting a growth of 1.4%[18] Research and Development - The company's R&D expenses increased by 79.79% to ¥1,988,121.81, indicating a continued commitment to innovation[7] - Research and development expenses for Q1 2022 were CNY 1,988,121.81, up from CNY 1,105,818.75 in the same period last year, indicating an increase of 79.7%[20] Shareholder Information - Total number of common shareholders at the end of the reporting period is 32,407[10] - The largest shareholder, Xi'an Power Electronics Technology Research Institute, holds 39.55% of shares, totaling 126,574,080 shares[10] Inventory and Receivables - The company’s accounts receivable decreased to ¥96,043,358.31 from ¥138,284,012.48[15] - Inventory at the end of the reporting period is ¥95,820,664.79, compared to ¥90,307,029.96 at the beginning of the year[15] Government Support and Investments - The company received government subsidies amounting to ¥124,475.54, contributing to its overall financial performance[5] - The company has invested a total of ¥32,351,814.44 in fundraising projects as of the reporting period[13] - The company plans to accelerate the implementation of revised fundraising projects post-COVID-19[14] - The company has acquired land use rights for a plot of 60,024.6 square meters (approximately 90.037 acres) for future development[12] Other Financial Information - The company reported a credit impairment loss of CNY 4,054,000.86 in Q1 2022, compared to a reversal of CNY 1,612,404.22 in the same period last year[20] - The company did not report any audited financial results for the first quarter[25] - The company continues to focus on improving cash flow management and reducing investment outflows to enhance financial stability[24]

Financial Performance - The company's operating revenue for 2021 was ¥178,183,021.40, representing a 46.61% increase compared to ¥121,534,652.54 in 2020[20]. - The net profit attributable to shareholders for 2021 was ¥53,377,985.99, an increase of 82.66% from ¥29,222,839.64 in 2020[20]. - The net profit after deducting non-recurring gains and losses was ¥48,972,865.22, which is a 189.19% increase from ¥16,934,597.16 in 2020[20]. - The company's total revenue for 2021 was ¥178,183,021.40, representing a 46.61% increase compared to ¥121,534,652.54 in 2020[51]. - The gross profit margin for the power electronics industry was 44.96%, a decrease of 8.28% compared to the previous year[53]. - The company reported a significant increase in operating revenue compared to the previous year, driven by effective management strategies to mitigate the impact of the pandemic[93]. - The company reported a total revenue of 1.5 billion RMB for the fiscal year 2021, representing a year-over-year growth of 20%[164]. - The company achieved a net profit of 21.17 million RMB, indicating a strong performance in profitability[123]. Research and Development - The R&D team consists of approximately 165 members, accounting for 42.86% of the total workforce, ensuring a strong focus on new technology and product development[42]. - The company has developed proprietary technologies such as high-voltage thyristor full-pressure connection technology and high-voltage low-temperature welding technology, enhancing its competitive edge in the market[41]. - The company reported a significant increase in R&D expenses, totaling ¥10,222,694.61 in 2021, which is a 106.26% increase from ¥4,956,190.21 in 2020, accounting for 5.74% of operating revenue[62][65]. - The company is investing 10 million RMB in R&D for new semiconductor technologies, aiming to enhance product offerings[121]. - The company plans to invest 100 million RMB in new technology development over the next two years[170]. Market and Product Development - The company aims to play a crucial role in the ultra-high voltage direct current transmission sector, which is expected to peak during the 14th Five-Year Plan[31]. - The company continues to expand its product lineup, including high-power chemical power supply equipment and testing devices, to meet the growing demands of various industrial sectors[39]. - The company has established partnerships with three major industry players to enhance distribution channels and market reach[121]. - New product launches are expected to contribute an additional 200 million RMB in revenue, with a focus on enhancing product features and user experience[113]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by 2023[113]. Financial Management and Governance - The company has a commitment to ensuring the accuracy and completeness of its financial reports, as stated by its management[4]. - The company emphasizes compliance with regulations and effective training to ensure lawful operations post-listing[91]. - The company maintained an independent financial department with a complete accounting system, ensuring financial autonomy[102]. - The company has established measures to avoid competition with related parties, ensuring no direct or indirect engagement in competing businesses[183]. - The company will prioritize cash dividends over stock dividends in its profit distribution strategy[182]. Shareholder Engagement and Profit Distribution - The company reported a profit distribution plan of 0.30 CNY per 10 shares (including tax) based on a total of 320,000,000 shares[5]. - The cash dividend represents 100% of the total profit distribution amount, with a total distributable profit of RMB 258,883,115.57[141]. - The company guarantees that the annual cash dividend amount will not be less than 20% of the realized distributable profit for the year[178]. - The company will consider cash dividends as the primary method of profit distribution, with a minimum cash dividend ratio of 80% during mature stages without significant capital expenditure[181]. - The company has committed to protecting investors' interests in case of any failure to fulfill commitments[194]. Operational Challenges and Future Outlook - The company is facing challenges from international market pressures affecting semiconductor raw materials and technology[93]. - The company plans to enhance innovation investment and improve labor efficiency in response to national policies during the "14th Five-Year Plan" period[90]. - Future guidance includes a focus on sustainable practices, with a goal to reduce carbon emissions by 30% by 2025[189]. - The company plans to enhance its supply chain efficiency, aiming for a 15% reduction in operational costs by the end of 2022[113]. - The company provided a forward guidance of 1.5 billion RMB in revenue for the next fiscal year, indicating a growth target of 25%[113].

西安派瑞功率半导体变流技术股份有限公司 2021 年第三季度报告 证券代码：300831 证券简称：派瑞股份 公告编号：2021-066 西安派瑞功率半导体变流技术股份有限公司 2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准 确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带 的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声 明：保证季度报告中财务信息的真实、准确、完整。 3.第三季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比上 | | --- | --- | --- | --- | --- | | | | 增减 | | 年同期增减 | | 营业收入（元） | 65,333,094.62 | 248.79% | 136,401, ...

Financial Performance - The company reported a revenue of 100 million RMB for the first half of 2021, representing a 20% increase compared to the same period in 2020[15]. - The net profit attributable to shareholders for the first half of 2021 was 15 million RMB, up 25% year-on-year[15]. - The company's operating revenue for the reporting period was ¥71,068,791.11, a decrease of 20.54% compared to the same period last year[21]. - The net profit attributable to shareholders was ¥11,389,461.15, reflecting a decline of 46.46% year-over-year[21]. - The net cash flow from operating activities was ¥6,343,148.29, down 75.84% from the previous year[21]. - The basic earnings per share decreased by 55.39% to ¥0.0356[21]. - The company reported a significant decrease in other income by 81.62% to ¥22,940.50, primarily due to variations in government subsidies[47]. - The total comprehensive income for the first half of 2021 was 72.7 million, representing a 16.67% increase compared to the same period in 2020[163]. - The net profit attributable to shareholders for the first half of 2021 was 290.6 million, reflecting a 72.7% increase compared to the same period last year[163]. Research and Development - Research and development expenses for the first half of 2021 amounted to 10 million RMB, accounting for 10% of total revenue[15]. - The R&D team consists of approximately 199 members, with 58.36% of the workforce dedicated to research, including 3 PhDs and 31 master's degree holders[37]. - The company has submitted 7 patent applications during the reporting period, which are crucial for maintaining technological leadership and enhancing core competitiveness[42]. - R&D investment rose by 48.21% to ¥3,127,365.84, as projects resumed normal progress after delays caused by the pandemic[45]. - The R&D expenditure for the first half of 2021 was 189 million, which is 2.28% of total revenue, indicating a focus on innovation[165]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in sales in this region by the end of 2022[15]. - The company is exploring potential mergers and acquisitions to enhance its technological capabilities and market share[15]. - The company plans to continue managing idle raised funds through cash management products to ensure liquidity and safety[62]. - The company plans to maintain its world-leading position in high-power thyristor technology while exploring the industrial application of cutting-edge technologies to discover new growth points[76]. - The company plans to expand its market presence through new product development and strategic partnerships in the semiconductor sector[164]. Financial Management and Assets - Total assets at the end of the reporting period were ¥824,485,866.95, an increase of 1.61% compared to the end of the previous year[21]. - The total amount of raised funds is RMB 268.31 million, with a net amount of RMB 269.31 million after deducting issuance costs of RMB 49.09 million[61]. - The remaining balance of the raised funds is RMB 269.10 million, which includes RMB 69.10 million in demand deposits and RMB 130 million in cash management products[62]. - The company has established a special account storage system for the raised funds, ensuring proper management and oversight[61]. - The company has a total of RMB 20,000 million in entrusted financial management, with RMB 16,000 million currently in circulation[69]. Operational Insights - The company maintained its focus on the research and production of power semiconductor devices, becoming a leader in the high-power, large-diameter thyristor sector[30]. - The company primarily operates on a made-to-order basis for its power electronic conversion devices, with a focus on self-manufactured products and some outsourced components[34]. - The production cycle for high-voltage direct current valves is approximately 3 months, with initial product delivery taking 1 to 2 months after order confirmation[33]. - The company employs a quality management system based on ISO9001 to ensure product quality throughout the production process[32]. - The company has a strong technical foundation, inheriting years of expertise from the Xi'an Electric Research Institute, which has been pivotal in the development of power semiconductor devices in China since 1964[36]. Risks and Challenges - The company has identified risks related to supply chain disruptions and is implementing strategies to mitigate these risks[6]. - The semiconductor production materials prices have significantly fluctuated, impacting delivery times, prompting the company to coordinate closely with suppliers to meet customer demands[74]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 34,197[120]. - The largest shareholder, Xi'an Electric Power Electronics Research Institute, holds 39.55% of the shares, totaling 126,574,080 shares[120]. - The company has a total of 240,000,000 shares, with 104,484,240 shares released from restrictions during the reporting period[119]. - The shareholder structure shows no significant changes in the top 10 shareholders, with no new strategic investors entering[122]. Compliance and Governance - The semi-annual financial report has not been audited[94]. - The company has not experienced significant changes in profit composition or sources during the reporting period[47]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[92]. - The financial statements are prepared in accordance with the Chinese Accounting Standards and reflect the company's financial position and performance accurately as of June 30, 2021[180].

Financial Performance - The company reported a revenue of RMB 100 million for the first half of 2021, representing a year-on-year increase of 25% compared to RMB 80 million in the same period of 2020[15]. - The gross profit margin for the first half of 2021 was 35%, up from 30% in the same period last year, indicating improved cost management and pricing strategies[15]. - The company's operating revenue for the reporting period was ¥71,068,791.11, a decrease of 20.54% compared to the same period last year[21]. - The net profit attributable to shareholders was ¥11,389,461.15, reflecting a decline of 46.46% year-over-year[21]. - The net cash flow from operating activities was ¥6,343,148.29, down 75.84% from the previous year[21]. - Basic earnings per share decreased by 55.39% to ¥0.0356[21]. - The total profit for the first half of 2021 was ¥13,746,831.63, down from ¥24,570,190.70 in the first half of 2020, representing a decline of approximately 44%[148]. - Net profit for the first half of 2021 was ¥10,702,772.28, a significant decrease of approximately 49.3% compared to ¥21,122,651.87 in the first half of 2020[149]. Research and Development - The company plans to invest RMB 20 million in R&D for new semiconductor technologies in the upcoming year, focusing on enhancing product efficiency and performance[15]. - The company has a research and development team of approximately 199 people, with 58.36% of employees engaged in R&D, including 5 senior engineers and 3 PhDs[37]. - The company has submitted 7 patent applications during the reporting period, which will help maintain technological leadership and enhance core competitiveness[42]. - Research and development expenses rose by 48.21% to ¥3,127,365.84, as R&D projects resumed normal operations after delays caused by the pandemic[46]. - The company plans to maintain its world-leading position in high-power thyristor technology while exploring the industrial application of cutting-edge technologies to discover new growth points[74]. Market Expansion - The company is expanding its market presence in Southeast Asia, with plans to establish a local office by the end of 2021 to better serve regional clients[15]. - The company is exploring potential mergers and acquisitions to enhance its technological capabilities and market share in the semiconductor industry[15]. - The company has made progress in developing precision breakdown thyristors for flexible direct current transmission and is continuously advancing the research and development of new products such as IGCT and power fast recovery diodes[74]. - The company has set a performance guidance for the second half of 2021, expecting continued revenue growth driven by increased demand in the semiconductor market[164]. Financial Management - The company has no plans to distribute cash dividends or issue bonus shares for the current fiscal year, focusing instead on reinvestment for growth[7]. - The company has implemented cash management strategies to ensure the availability of funds for investment projects while maintaining high liquidity and safety[61]. - The company has established a special account storage system for the raised funds and signed a tripartite supervision agreement with the sponsor and the bank[59]. - The company has not made any significant equity or non-equity investments during the reporting period[57]. - The company has not reported any changes in the use of raised funds or any significant asset or equity sales during the reporting period[70]. Quality Assurance - The company employs an ISO9001 quality management system to ensure product quality throughout the production process[32]. - The company has established a comprehensive quality system that meets international and domestic safety, reliability, and environmental standards, achieving high quality and reliability in its products[39]. - The company has implemented advanced quality management methods, including 6σ and SPC techniques, to ensure product consistency and reliability[39]. Shareholder Information - The largest shareholder, Xi'an Electric Power Electronics Research Institute, holds 39.55% of the shares, totaling 126,574,080 shares[119]. - The total number of ordinary shareholders at the end of the reporting period was 34,197[119]. - The company experienced a change in shareholding due to the lifting of restrictions on 104,484,240 shares, reducing the proportion of restricted shares from 75.00% to 42.35%[115]. - The total number of shares after the change is 320,000,000, with 184,484,240 shares being unrestricted[116]. Compliance and Governance - The half-year financial report has not been audited, indicating that the financial results are still subject to review[93]. - The company has maintained a strong commitment to environmental protection, complying with all relevant laws and regulations without facing any administrative penalties during the reporting period[85]. - The company did not undergo any changes in its controlling shareholder or actual controller during the reporting period[124]. - There were no related party transactions during the reporting period, including asset or equity acquisitions and joint investments[98][99][100][101][102][103]. Asset Management - Total assets at the end of the reporting period were ¥824,485,866.95, an increase of 1.61% compared to the end of the previous year[21]. - The company's cash and cash equivalents decreased to CNY 324,505,967.46 from CNY 452,927,449.94 at the end of 2020, representing a decline of approximately 28.3%[134]. - Accounts receivable increased to CNY 118,586,330.06 from CNY 96,326,470.35, reflecting a growth of about 23.1%[134]. - Inventory rose to CNY 81,740,988.11 from CNY 74,225,178.95, indicating an increase of approximately 10.1%[134].

Financial Performance - Revenue for Q1 2021 was CNY 17,129,321.06, an increase of 2.69% compared to CNY 16,680,020.48 in the same period last year[9] - Net profit attributable to shareholders was CNY 397,506.82, a significant improvement of 108.95% from a loss of CNY 4,442,494.03 in the previous year[9] - Net profit excluding non-recurring items was CNY 239,881.97, up 105.40% from the previous year's loss of CNY 4,442,494.03[9] - Basic earnings per share increased to CNY 0.0012 from a loss of CNY 0.0185, reflecting a growth of 106.49%[9] - Operating profit for the period was CNY 888,982.44, a significant recovery from a loss of CNY 4,475,333.17 in the same period last year[48] - Net profit for Q1 2021 was CNY 445,276.99, compared to a net loss of CNY 4,475,333.17 in the previous year, indicating a turnaround[48] - Total operating revenue for Q1 2021 was CNY 17,129,321.06, an increase of 2.69% compared to CNY 16,680,020.48 in the previous period[46] Cash Flow and Liquidity - The company reported a net cash flow from operating activities of -CNY 8,671,443.96, an improvement from -CNY 25,265,100.92 in the previous year[9] - Cash and cash equivalents at the end of the reporting period amounted to CNY 174,438,761.18, a decrease of 61.49% compared to the beginning of the period, primarily due to investments in bank wealth management products[19] - The company experienced a decrease in cash and cash equivalents by 278,488,688.76 yuan during the quarter[57] - Cash inflow from operating activities totaled 22,319,194.45 yuan, an increase from 20,387,883.12 yuan in the previous period[56] - The total cash inflow from operating activities was 20,410,728.95 yuan, compared to 19,006,233.58 yuan in the previous period[58] Assets and Liabilities - Total assets at the end of the reporting period were CNY 807,879,452.18, a decrease of 0.44% from CNY 811,461,842.82 at the end of the previous year[9] - The company's total assets amounted to CNY 807,879,452.18, a slight decrease from CNY 811,461,842.82 at the end of 2020, reflecting a 0.22% decline[41] - The total current liabilities decreased to CNY 43,889,209.16 from CNY 50,879,178.69, indicating a reduction of about 13.93%[40] - The company's total liabilities decreased to CNY 48,062,385.61 from CNY 52,090,221.01, reflecting a decline of approximately 7.77%[40] - The company's non-current liabilities rose to CNY 4,173,176.45 from CNY 1,211,042.32, representing an increase of about 244.00%[40] Shareholder Information - The top shareholder, Xi'an Power Electronics Technology Research Institute, holds 39.55% of shares, totaling 126,574,080 shares[12] - The company has no plans for share repurchase transactions during the reporting period[13] Research and Development - Research and development expenses for the quarter were CNY 1,105,818.75, an increase of 48.53% year-on-year, as R&D activities resumed after disruptions caused by the pandemic[20] - The company is focusing on R&D for flexible DC transmission technology, achieving progress in developing precision-triggered thyristors and high-voltage series products[27] - The company plans to enhance its competitive edge by increasing R&D investment and exploring new application fields beyond DC transmission[26] Market and Strategic Initiatives - The company is actively expanding its overseas market presence to leverage its brand influence[26] - The company has not made any adjustments to its annual operating plan and continues to execute its strategic initiatives as planned[25] Risk Management - The company faces potential risks related to accounts receivable due to increased contract undertakings, which may affect cash flow[27] - The company is committed to managing accounts receivable through improved customer reconciliation frequency and incentive mechanisms[27] Other Financial Metrics - The company reported a financial income of CNY 1,238,221.52, compared to a financial expense of CNY 897,878.43 in the previous period[47] - The company experienced a significant decrease in tax and additional charges, amounting to CNY 629,155.62, down 35.51% year-on-year, mainly due to a reduction in VAT payable[20]

Financial Performance - The company's operating revenue for 2020 was ¥121,534,652.54, a decrease of 48.08% compared to ¥234,084,126.41 in 2019[19]. - The net profit attributable to shareholders for 2020 was ¥29,222,839.64, down 53.15% from ¥62,374,725.87 in 2019[19]. - The net profit after deducting non-recurring gains and losses was ¥16,934,597.16, a decline of 72.17% compared to ¥60,840,893.76 in 2019[19]. - The company has experienced a significant decline in net profit and revenue, indicating challenges in the market environment and operational efficiency[19]. - The company's total operating revenue for 2020 was ¥121,534,652.54, a decrease of 48.08% compared to ¥234,084,126.41 in 2019[54]. - Revenue from the power electronics industry was ¥120,899,789.71, accounting for 99.48% of total revenue, also down by 48.30% from ¥233,847,973.95 in 2019[54]. - The gross profit margin for the power electronics industry was 53.24%, which is an increase of 4.34% compared to the previous year[56]. - The company reported a net profit of 100 million RMB for the year 2020, representing a year-on-year increase of 20%[112]. Dividend Distribution - The profit distribution plan approved by the board is to distribute a cash dividend of 0.17 RMB per 10 shares, based on a total of 320 million shares[7]. - A cash dividend of CNY 0.17 per share (totaling CNY 5,440,000.00) is proposed for 2020, representing 21.03% of the total distributable profits[105][106]. - The cash dividend for 2020 accounts for 18.62% of the consolidated net profit attributable to the company's ordinary shareholders[107]. - The company has committed to ensuring reasonable returns for investors while considering long-term development[105]. - The cash dividend distribution plan reflects the company's profitability and commitment to shareholder value[105][106]. - The company has a history of consistent dividend payments, with a focus on maintaining a balance between shareholder returns and business growth[106]. Research and Development - The company has a strong focus on research and development of new products and technologies in the power semiconductor sector[6]. - The R&D team consists of approximately 170 members, with 43.36% of the total workforce dedicated to research and development[39]. - The company has submitted 6 patent applications during the reporting period, with 5 patents granted, enhancing its technological competitiveness[44]. - The company has developed a new flexible direct current protection thyristor, making progress in R&D for future national projects[49]. - Research and development expenses decreased by 33.23% to ¥4,956,190.21 due to pandemic-related disruptions[65]. - The company is actively developing new products such as IGCTs and fast recovery diodes, which are gradually being introduced to the market[49]. - The company completed 4 out of 12 internal R&D projects aimed at consolidating its position in the ultra-high voltage direct current transmission market[66]. - The company plans to increase R&D investment to bridge the technology gap with international standards, particularly in key areas related to national security and economic development[90]. Market Position and Strategy - The company operates in an encouraged industry according to national energy construction policies, with low risk of overcapacity and technological replacement[6]. - The company is actively pursuing market expansion opportunities and strategic acquisitions to enhance its competitive position[6]. - The company has achieved a significant market presence as a core supplier of converter valves for power transmission projects[6]. - The company aims to become a leading enterprise in the power electronics device market with international competitiveness and technological leadership[89]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[116]. - A strategic acquisition of a smaller semiconductor firm was completed, expected to enhance production capacity by 40%[117]. - The company is actively seeking acquisition targets related to its core business to optimize its industrial layout and expand production scale[90]. Operational Efficiency - The company reported a stable operational situation with low major risks in its current business activities[6]. - The company maintains a production cycle of approximately 3 months and a procurement cycle of 3 to 4 months for raw materials[33]. - The company employs a direct sales model for high-voltage direct current thyristors, primarily serving national power transmission projects[34]. - The company has established a quality management system based on ISO9001 to ensure product quality throughout the production process[31]. - The company has implemented stricter quality control measures, including a veto power on raw material acceptance and enhanced testing standards for product parameters[50]. - The company is focused on optimizing its operational management to improve efficiency across sales, procurement, and production[92]. Financial Management and Compliance - The company emphasizes the importance of accurate financial reporting and compliance with accounting standards[5]. - The company has maintained compliance with its commitments regarding profit distribution and shareholder returns[109]. - The company has adopted new revenue recognition standards starting from January 1, 2020, in accordance with the Ministry of Finance's regulations[145]. - The company has made commitments to not transfer benefits to other entities or individuals under unfair conditions[140]. - The company will ensure that any share reduction does not violate its previous commitments made during the IPO[120]. - The company will disclose the details of the share reduction plan to the public in accordance with regulatory requirements[124]. Challenges and Risks - In 2020, the company faced delays in key projects and bidding processes due to the COVID-19 pandemic, impacting its performance[6]. - Future plans and forecasts are subject to risks, and investors are advised to maintain awareness of these risks[7]. - The company is addressing risks related to uneven investment in national DC transmission projects, which could lead to performance fluctuations[95]. - The company is currently facing delays in its project due to the need for new land acquisition, which may extend the construction timeline[82]. Shareholder Structure and Governance - The company publicly issued 80 million RMB ordinary shares at a price of 3.98 RMB per share, increasing total share capital from 240 million to 320 million shares[177]. - The shareholding structure post-issuance shows that the state-owned entity holds 39.55% of the shares, while other major shareholders include a state-owned investment fund with 11.18% and a private investment management center with 6.43%[181]. - The controlling shareholder, Xi'an Electric Power Electronics Research Institute, has not changed during the reporting period[185]. - The actual controller is the Shaanxi Provincial Government State-owned Assets Supervision and Administration Commission, which oversees multiple listed companies[186]. - The company appointed Pang Yanli and Bai Jie as vice presidents in June 2020 to enhance corporate governance[199]. - The management team has extensive experience in the power electronics industry, which is crucial for the company's future growth and market expansion[200].

Financial Performance - Operating revenue decreased by 39.43% to CNY 18,731,239.55 for the current period[9] - Net profit attributable to shareholders increased by 1,168.01% to CNY 6,920,134.82 for the current period[9] - Basic earnings per share increased by 901.01% to CNY 0.0216 for the current period[9] - The company's operating revenue for the reporting period was RMB 108,173,764.28, a decrease of 29.38% compared to RMB 153,173,230.65 in the previous period, primarily due to delays in project bidding and construction caused by the COVID-19 pandemic[18] - The net profit for the third quarter was CNY 6,930,489.60, compared to a net loss of CNY 627,963.49 in the previous year, indicating a significant turnaround[43] - The total profit for the period was CNY 33,410,731.23, which is a marginal decrease of 0.3% from CNY 33,515,744.35 in the previous year[50] - The total comprehensive income for the quarter was CNY 6,930,489.60, compared to a loss of CNY 627,963.49 in the previous year, indicating a strong recovery[44] Assets and Liabilities - Total assets increased by 30.52% to CNY 812,361,363.48 compared to the end of the previous year[9] - The company's total assets increased to RMB 669,602,269.19 from RMB 468,334,440.13, reflecting a strong growth in liquidity[33] - The company's total liabilities decreased significantly, with a notable reduction in tax payable by 89.60% to RMB 825,814.64, primarily due to a decrease in VAT payable[20] - The company's total liabilities decreased from CNY 150,428,887.49 to CNY 54,045,785.96, a reduction of about 64.0%[35] - Total liabilities amounted to CNY 150,428,887.49 as of the third quarter of 2020[69] Cash Flow - Net cash flow from operating activities increased by 399.45% to CNY 47,577,956.87 for the current period[9] - The net cash flow from operating activities increased by 717.16% to RMB 73,827,354.36 compared to RMB 9,034,650.84 in the previous period, driven by increased payments received and government subsidies[20] - The cash flow from operating activities was CNY 156,075,265.95, an increase from CNY 135,653,500.39 in the previous year[57] - The cash outflow for operating activities totaled ¥82,247,911.59, a decrease from ¥126,618,849.55 in the previous year, reflecting improved cost management[59] Shareholder Information - The total number of shareholders at the end of the reporting period was 31,017[13] - The largest shareholder, Xi'an Power Electronics Technology Research Institute, holds 39.55% of the shares[13] - The company has not engaged in any repurchase transactions among its top shareholders during the reporting period[15] Research and Development - Research and development expenses fell by 40.56% to RMB 3,395,704.38, as costs incurred during the pandemic were reclassified as management expenses[18] - Research and development expenses amounted to CNY 1,285,618.76, down from CNY 3,170,417.45, reflecting a reduction of approximately 59.5%[46] Other Income and Expenses - Non-recurring gains and losses totaled CNY 10,846,380.06, primarily from government subsidies and other income[10] - The company reported a substantial increase in other income, rising 14,663.13% to RMB 12,495,064.00, due to various government subsidies received[18] - Financial expenses decreased significantly by 83.44% to RMB 687,123.52, following the repayment of bank loans in April 2020[18] Inventory and Accounts Receivable - Accounts receivable decreased by 57.81% to RMB 1,686,396.10, as a result of the maturity and settlement of commercial acceptance bills[19] - The company's inventory decreased from CNY 80,605,711.09 to CNY 67,255,232.19, a decline of about 16.6%[36] Future Outlook - The company plans to continue focusing on R&D and market expansion despite the challenges posed by the pandemic[18] - The company anticipates a significant impact on net profit due to delays in project bidding and construction caused by the COVID-19 pandemic, particularly affecting the supply of core components for DC transmission projects[24]