Financial Performance - Operating revenue for the current period was CNY 52,522,627.80, representing a 96.46% increase year-on-year[7] - Net profit attributable to shareholders decreased by 88.58% to CNY 103,664.51 compared to the same period last year[7] - Basic earnings per share decreased by 91.46% to CNY 0.0021[7] - The weighted average return on net assets was 0.02%, down by 0.33% compared to the same period last year[7] - The net profit for the third quarter was CNY 43,174.01, a decrease from CNY 706,013.60 in the same period last year[37] - The total profit for the quarter was CNY 16,514,614.58, a decline of 24.4% compared to CNY 21,800,353.95 in the previous year[44] - The company's operating profit decreased to CNY 15,628,683.40, down 21.9% from CNY 20,018,825.55 in Q3 2019[44] - The total comprehensive income for the quarter was CNY 15,224,332.18, down 29.5% from CNY 21,596,433.65 in the same period last year[45] Assets and Liabilities - Total assets increased by 70.80% to CNY 784,750,448.43 compared to the end of the previous year[7] - The total liabilities decreased slightly to CNY 197,567,089.58 from CNY 205,600,632.49, indicating effective liability management[32] - Total assets grew to CNY 775,755,080.27, up from CNY 474,692,243.04 at the end of 2019, showcasing strong asset expansion[31] - Total liabilities reached CNY 159,959,338.37, with current liabilities at CNY 150,528,990.07 and non-current liabilities at CNY 9,430,348.30[61] - The total cash inflow from investment activities was 30,485,395.56 CNY, while cash outflow was 25,284,298.60 CNY, resulting in a net cash outflow of 25,284,298.60 CNY[53] Cash Flow - The net cash flow from operating activities was CNY -39,170,165.38, a decrease of 1,221.66% compared to the same period last year[7] - The net cash flow from operating activities worsened to -¥96,834,410.00, a decline of 374.54% due to reduced operating income amid ongoing expenses[17] - Total cash inflow from operating activities was 259,181,454.63 CNY, while cash outflow was 356,015,864.63 CNY, resulting in a net cash outflow of 96,834,410.00 CNY[52] - The company reported cash inflow from financing activities of 319,836,736.08 CNY, significantly higher than 18,160,264.33 CNY in the previous period[56] Shareholder Information - Net assets attributable to shareholders increased by 105.67% to CNY 614,644,166.37 compared to the end of the previous year[7] - The company reported a total of 8,858 common shareholders at the end of the reporting period[11] - The largest shareholder, Xiao Zhaopeng, holds 25.04% of the shares[11] - The equity attributable to shareholders increased to CNY 614,644,166.37 from CNY 298,847,435.48, demonstrating significant growth in shareholder value[29] Research and Development - Research and development expenses decreased by 31.35% to ¥12,680,662.64 compared to the previous year[17] - Research and development expenses for Q3 2020 were CNY 2,454,408.82, down from CNY 4,061,537.64 in the previous year, suggesting a potential shift in R&D strategy[35] - Research and development expenses for the third quarter were CNY 85,966.72, a decrease from CNY 2,254,227.54 in the previous year[39] - Research and development expenses for the quarter were CNY 8,213,019.33, a significant decrease of 43% from CNY 14,390,237.28 in the same period last year[47] Inventory and Production - Inventory rose to ¥208,692,967.31 from ¥62,527,128.94, a 233.76% increase, primarily due to production delays caused by the pandemic[15] - The inventory level rose to CNY 189,544,763.98 from CNY 59,092,045.21, indicating increased stock levels possibly in anticipation of future demand[29] Government Support - The company received government subsidies amounting to CNY 989,602.32 during the reporting period[8] Financial Management - The company experienced a credit impairment loss of CNY -1,270,834.55, compared to a gain of CNY 4,654,188.01 in the previous period[40] - The company reported a credit impairment loss of CNY 887,472.29, an increase from CNY 807,619.31 in Q3 2019[44] - The financial expenses for the quarter were CNY 424,069.35, a decrease from CNY -318,917.40 in the previous year, indicating a shift in financial management[44] Future Outlook - The company plans to focus on market expansion and new product development to improve future performance[44] - The company is focusing on expanding its market presence and enhancing product offerings, although specific new products or technologies were not detailed in the report[34] Compliance and Standards - The third quarter report has not been audited[66] - The new revenue and lease standards were applied starting from 2020, with retrospective adjustments made to prior comparative data[66]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥124,599,387.85, a decrease of 32.10% compared to ¥183,517,464.02 in the same period last year[18]. - The net profit attributable to shareholders was ¥15,005,979.24, down 28.48% from ¥20,982,859.01 year-on-year[18]. - Basic earnings per share decreased by 33.33% to ¥0.38 from ¥0.57 in the same period last year[18]. - Operating profit was CNY 15.59 million, down 25.71% year-on-year, while net profit attributable to shareholders was CNY 15.01 million, a decrease of 28.48%[50]. - The total profit for the first half of 2020 was CNY 16,486,535.88, a decline of 27.3% from CNY 22,663,401.86 in the first half of 2019[150]. - The total comprehensive income for the first half of 2020 was CNY 15,181,158.17, down from CNY 20,890,420.05 in the same period of 2019[148]. Cash Flow and Assets - The net cash flow from operating activities was -¥57,664,244.62, representing a 141.29% increase in cash outflow compared to -¥23,898,260.83 in the previous year[18]. - Cash and cash equivalents surged by 364.63%, primarily due to the receipt of funds raised during the reporting period[39]. - The total cash and cash equivalents at the end of the period reached 301,104,862.20 yuan, up from 51,848,543.60 yuan at the end of the previous year[155]. - The company reported a significant increase in cash and cash equivalents, with a net increase of CNY 241.44 million, representing an 818.02% increase, primarily due to the receipt of raised funds[53]. - The company's total assets reached CNY 785,281,599.07, up from CNY 474,692,243.04 at the end of 2019, indicating a growth of 65.5%[144]. - The total current assets amounted to CNY 719,504,607.98, compared to CNY 410,300,712.36 at the end of 2019, reflecting a growth of approximately 75.3%[138]. Investments and R&D - The company has obtained a total of 131 patents, including 41 invention patents, 83 utility model patents, and 7 design patents as of June 30, 2020[26]. - The company increased its R&D efforts, filing 14 new patents during the reporting period, bringing the total to 131 patents, including 41 invention patents[50]. - The company employs 175 technical and R&D personnel, accounting for 27.56% of the total workforce, enhancing its design and development capabilities[41]. - The company emphasizes technological innovation and has a robust R&D department to support its development strategy[32]. Market Position and Strategy - The company has established long-term partnerships with well-known manufacturers such as Luxshare Precision, Foxconn, and Siemens, enhancing customer stickiness[27]. - The company has a strong competitive advantage due to its quality management system, recognized by major users of intelligent manufacturing equipment[31]. - The company operates under a production model that is driven by sales, customizing designs based on specific customer needs[32]. - The global shift towards smart manufacturing is creating significant opportunities for the company, as developed countries transition to modern manufacturing[36]. - The company plans to continue expanding its market presence and investing in new technologies[166]. Risks and Challenges - The company faces risks from macroeconomic fluctuations, particularly in the smart manufacturing equipment industry, which is influenced by fixed asset investment in sectors like consumer electronics and automotive[77]. - The ongoing COVID-19 pandemic introduces uncertainty that may impact customer investment and, consequently, the company's annual performance[83]. - Accounts receivable may increase with business growth, posing a risk of bad debts if customer creditworthiness declines; the company has made provisions for bad debts[80]. Corporate Governance and Compliance - The half-year financial report was not audited, indicating a lack of external verification for the reported figures[90]. - The company has not engaged in any related party transactions during the reporting period[97]. - The company has not reported any changes in the feasibility of investment projects or significant changes in the use of raised funds[67][69]. - The company does not have any major contracts, guarantees, or significant environmental responsibilities during the reporting period[106][109]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,736[118]. - The company issued 12,313,930 shares at a price of 28.18 RMB per share, raising a total of approximately 347 million RMB[117]. - Following the issuance, the total share capital increased from 36,941,790 shares to 49,255,720 shares, with the proportion of limited sale shares decreasing to 75%[114].