Financial Performance - Operating revenue for the current period was ¥126,592,890.26, representing a 14.06% increase year-on-year[9] - Net profit attributable to shareholders decreased by 4.80% to ¥14,271,328.34 compared to the same period last year[9] - Basic earnings per share decreased by 33.33% to ¥0.10 compared to the same period last year[9] - The weighted average return on equity decreased by 54.25% to 1.91% in the current period[9] - Total operating revenue for Q3 2020 reached ¥126,592,890.26, an increase of 14.5% compared to ¥110,985,413.51 in Q3 2019[35] - Net profit for Q3 2020 was ¥14,271,328.34, a decrease of 4.8% from ¥14,991,657.56 in Q3 2019[37] - Operating profit for the third quarter was ¥16,113,198.87, a decline of 5.6% from ¥17,067,533.42 in the previous year[41] - The company's total operating revenue for the current period is ¥306,744,906.02, a decrease of 5.1% compared to ¥324,995,588.40 in the previous period[48] - The net profit attributable to the parent company is ¥43,949,465.56, down 8.8% from ¥48,072,774.86 in the previous period[49] - Total comprehensive income for the period was ¥14,271,328.34, compared to ¥14,991,657.56 in the prior year[41] - The total comprehensive income for the current period is ¥43,949,465.56, compared to ¥48,072,774.86 in the previous period, reflecting a decrease of 8.8%[50] Asset and Equity Changes - Total assets increased by 48.97% to ¥922,345,282.22 compared to the end of the previous year[9] - Net assets attributable to shareholders increased by 95.32% to ¥755,217,127.39 compared to the end of the previous year[9] - Cash and cash equivalents increased by 1273.36% to ¥262,029,674.74 due to the increase in raised funds during the reporting period[18] - Accounts receivable increased by 271.65% to ¥4,297,797.01 as a result of an increase in commercial acceptance bills received[18] - Inventory rose by 55.41% to ¥131,958,470.06 due to an increase in orders on hand[18] - Prepayments increased by 78.51% to ¥6,367,344.49 due to an increase in procurement orders[18] - The company's total equity attributable to shareholders reached ¥755,217,127.39, up from ¥386,659,814.19, marking a significant increase of 95.0%[33] - Total assets as of September 30, 2020, amounted to ¥922,345,282.22, compared to ¥619,132,658.27 at the end of 2019, indicating a growth of 48.9%[32] - Current assets increased to ¥726,923,397.33 from ¥448,444,234.23, representing a rise of 62.0% year-over-year[32] Cash Flow and Financing Activities - Net cash flow from operating activities increased by 105.72% to ¥349,111.94 in the current period[9] - The net cash flow from financing activities was ¥252,052,133.56, a significant increase compared to a negative cash flow of ¥13,930,043.16 in the previous period[20] - The total cash inflow from financing activities is ¥406,736,300.00, significantly higher than ¥91,128,058.00 in the previous period[54] - The company reported a net cash increase of ¥242,733,382.42 in cash and cash equivalents, compared to a decrease of ¥19,167,492.90 in the previous period[54] - Net cash flow from operating activities was ¥26,411,860.71, up 19.3% compared to ¥22,170,107.39 in the prior period[57] - Cash outflow from investment activities totaled ¥38,563,580.40, an increase of 39.9% from ¥27,587,844.70 in the previous period[57] - The ending balance of cash and cash equivalents increased to ¥260,336,508.92, compared to ¥6,236,393.01 at the end of the previous period[58] - The company received cash from investment of ¥367,436,300.00 during the financing activities, with cash inflow from borrowings at ¥39,300,000.00[57] Expenses and Liabilities - Management expenses rose by 32.91% to ¥15,953,972.41 mainly due to increased listing-related expenses[19] - The total liabilities decreased to ¥167,128,154.83 from ¥232,472,844.08, indicating a reduction of 28.1%[33] - The company reported a decrease in financial expenses, with a net financial cost of -¥1,586,393.28, compared to ¥823,767.20 in Q3 2019[36] - Research and development expenses for Q3 2020 were ¥4,404,296.94, slightly down from ¥4,524,657.09 in the same quarter last year[36] - Research and development expenses for the current period are ¥10,726,726.47, a slight decrease of 10.1% from ¥11,934,584.39 in the previous period[48] - The company has incurred interest expenses of ¥1,873,430.37, down from ¥3,041,603.45 in the previous period, indicating a reduction of 38.3%[48] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 136,340[13] - The top shareholder, Chen Xiaoyu, holds 20.94% of the shares, totaling 28,550,000 shares[13] Other Income - Non-operating income from government subsidies amounted to ¥8,393,802.31[10] - The company reported a 403.71% increase in non-operating income to ¥5,037,100.00, primarily from government subsidies related to listing[19] - Other income for the quarter was ¥2,284,740.43, a substantial increase from ¥262,646.41 in the previous year[40] Audit and Adjustments - The third quarter report was not audited[61] - The company did not require adjustments to the balance sheet items at the beginning of the year due to no significant changes in revenue recognition methods[59]

Financial Performance - Operating revenue for the period was ¥126,592,890.26, representing a year-on-year increase of 14.06%[8] - Net profit attributable to shareholders decreased by 4.80% to ¥14,271,328.34 compared to the same period last year[8] - Net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 16.21% to ¥12,394,626.63[8] - Basic earnings per share decreased by 33.33% to ¥0.10[8] - Weighted average return on equity decreased by 54.25% to 1.91%[8] - The net profit for Q3 2020 was CNY 14,271,328.34, a decrease of 4.81% from CNY 14,991,657.56 in Q3 2019[40] - The total profit for Q3 2020 was CNY 16,281,794.57, compared to CNY 17,047,533.42 in the previous year, reflecting a decline of 4.51%[40] - The company's operating profit for Q3 2020 was CNY 16,113,198.87, down from CNY 17,067,533.42 in Q3 2019, indicating a decrease of 5.59%[40] - The total comprehensive income for Q3 2020 was CNY 14,271,328.34, compared to CNY 14,991,657.56 in the same period last year[41] Assets and Liabilities - Total assets increased by 48.97% to ¥922,345,282.22 compared to the end of the previous year[8] - The company's total assets increased by 48.92% to CNY 922,345,282.22 compared to CNY 619,132,658.27 at the end of the previous year[27] - The company's total liabilities decreased to CNY 167,128,154.83 from CNY 232,472,844.08, suggesting improved financial health[32] - The equity attributable to shareholders increased to CNY 755,217,127.39 from CNY 386,659,814.19, indicating a strong retention of earnings and capital growth[29] Cash Flow - Net cash flow from operating activities increased by 105.72% to ¥349,111.94[8] - The net cash flow from operating activities for Q3 2020 was ¥26,411,860.71, an increase of 19.9% from ¥22,168,569.14 in Q3 2019[52] - The net cash flow from financing activities was CNY 252,052,133.56, a significant increase compared to a negative cash flow of CNY -13,930,043.16 in the previous period[19] - Cash inflow from operating activities totaled CNY 376,528,436.93, compared to CNY 323,891,736.22 in the previous period, reflecting a growth of approximately 16.3%[55] - Cash outflow for operating activities was CNY 350,116,576.22, up from CNY 301,721,628.83 in the previous period[56] - The company reported a cash inflow of CNY 406,736,300.00 from financing activities, a significant increase from CNY 91,128,058.00 in the previous period[57] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 18,831[11] - The company’s equity capital increased by 33.33% to CNY 136,340,000.00 due to the issuance of new shares during the reporting period[17] Expenses - Operating expenses rose by 32.91% to CNY 15,953,972.41 mainly due to increased expenses related to the listing[18] - Research and development expenses for Q3 2020 were CNY 4,404,296.94, slightly down from CNY 4,524,657.09, showing a stable investment in innovation[35] - The total operating costs for Q3 2020 were ¥201,106,808.88, down 4.3% from ¥210,190,846.87 in Q3 2019[47] - The company reported a decrease in financial expenses, with a net financial income of CNY -1,586,393.28 compared to CNY 823,767.20 in the previous year, reflecting improved cost management[35] Government Subsidies - The company reported government subsidies of ¥8,393,802.31 during the period[9] - Other income increased by 403.71% to CNY 5,037,100.00 primarily from government subsidies related to the listing[18] Inventory and Receivables - Accounts receivable rose by 271.65% to CNY 4,297,797.01 as a result of increased commercial acceptance bills received[17] - Inventory increased by 55.41% to CNY 131,958,470.06 due to a rise in orders on hand[17] - Prepayments increased by 78.51% to CNY 6,367,344.49 due to an increase in procurement orders[17]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥180,152,015.76, a decrease of 15.82% compared to ¥214,010,174.89 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was ¥29,678,137.22, down 10.42% from ¥33,128,501.96 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was ¥25,088,325.33, a decline of 15.65% compared to ¥29,744,485.13 in the same period last year[20]. - The net cash flow from operating activities was ¥26,062,748.77, which is a decrease of 7.82% from ¥28,272,785.06 in the previous year[20]. - The basic earnings per share decreased by 31.25% to ¥0.22 from ¥0.32 in the same period last year[20]. - The diluted earnings per share also fell by 31.25% to ¥0.22 from ¥0.32 in the previous year[20]. - The weighted average return on net assets was 6.51%, down from 9.58% in the previous year, a decrease of 3.07%[20]. - The company reported a total non-operating income of 4,589,811.89 CNY, primarily from government subsidies of 5,909,061.88 CNY, offset by losses from asset disposals and debt restructuring[24]. - The company achieved a sales revenue of 5.2 billion CNY in 2018 and 5.1 billion CNY in 2019, ranking among the few domestic control valve companies with annual sales exceeding 5 billion CNY[56]. - The company reported a decrease in short-term borrowings to ¥24,448,505.81 from ¥60,000,000.00, a decline of about 59.1%[181]. Assets and Liabilities - The total assets at the end of the reporting period were ¥937,795,912.05, an increase of 51.47% from ¥619,132,658.27 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company reached ¥740,945,799.05, up 91.63% from ¥386,659,814.19 at the end of the previous year[20]. - Total liabilities decreased to ¥196,850,113.00 from ¥232,472,844.08, a reduction of about 15.3%[181]. - Total equity surged to ¥740,945,799.05 from ¥386,659,814.19, indicating an increase of approximately 91.5%[182]. - The company’s capital reserve increased significantly to ¥353,453,787.41 from ¥62,930,939.77, representing a growth of approximately 461%[182]. - The company’s retained earnings rose to ¥223,547,511.69 from ¥193,869,374.47, an increase of about 15.4%[182]. Market Position and Strategy - The company is focused on expanding its market presence in various sectors, including energy, pharmaceuticals, and food processing, through innovative valve solutions[27]. - The company has entered the qualified supplier lists of Sinopec and CNOOC, marking significant breakthroughs in the oil and petrochemical industry[50]. - The domestic market share of control valves is expected to reach 50% by 2020, with a target of 90% for key pump and valve equipment autonomy[52]. - The company ranked 4th among domestic brands in the control valve market from 2017 to 2020, according to statistics from "Control Valve Information"[56]. - The company has achieved a high market share in niche industries such as papermaking, fine chemicals, biochemistry, and environmental water treatment, establishing itself as a well-known brand in these sectors[64]. Research and Development - The company emphasizes the development of high-capacity designs in its products, such as the PJ series multi-stage pressure reducing valves, tailored for high-pressure applications[28]. - The company has established a post-doctoral workstation approved by the Zhejiang Provincial Human Resources and Social Security Department since November 2015, enhancing its research and development capabilities[60]. - The company has developed various innovative products, including the V-type regulating three-way ball valve and large-caliber high-temperature and high-pressure regulating valve, which have passed identification since 2015[60]. - The company is committed to developing new technologies for automated control valves and plans to establish a research institute for this purpose[106]. - The company launched two new products recognized as provincial-level new products during the reporting period[74]. Production and Operations - The company operates a customized production model for control valves, focusing on client-specific requirements to generate reasonable profits[34]. - The company’s production is organized based on customer orders, utilizing an information system to manage orders across departments for timely delivery[39]. - The company’s procurement strategy emphasizes direct purchasing, with a strict supplier management system to ensure quality and timely delivery of raw materials[36]. - The company is focusing on high-end and intelligent product development to enhance its market competitiveness[106]. - The company plans to invest in a production line with an annual capacity of 25,000 high-performance control valves and a research and development center, aiming to enhance production capacity and technical strength[115]. Governance and Compliance - The company aims to enhance its governance structure and ensure compliance with relevant laws and regulations following its listing on the Shenzhen Stock Exchange in June 2020[78]. - The company has a stable control structure with six individuals jointly controlling the company, with agreements in place to ensure governance stability until March 2025[122]. - The effective corporate income tax rate during the reporting period was 15%, benefiting from high-tech enterprise recognition since 2012[119]. - The company has implemented measures to stabilize core technical personnel, including attractive compensation and incentive policies to retain talent[112]. Risks and Challenges - The company faces risks related to macroeconomic fluctuations that could impact downstream investment in fixed assets[103]. - The company anticipates potential risks in project implementation that may affect expected economic and social benefits[115]. - The company experienced a one-month shutdown due to the COVID-19 pandemic, impacting revenue and profit metrics[71]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 31,792[159]. - The largest shareholder, Chen Xiaoyu, holds 20.94% of the shares, amounting to 28,550,000 shares[159]. - The second-largest shareholder, Ren Xiang, holds 9.44% of the shares, amounting to 12,867,000 shares[159]. - The company did not undergo any changes in its controlling shareholder or actual controller during the reporting period[162]. Miscellaneous - The company has not reported any discrepancies between financial statements prepared under international and Chinese accounting standards[21]. - The company has not disclosed any significant mergers or acquisitions during the reporting period[27]. - The company did not experience any major changes in its operational contracts or face any significant risks related to contract performance[145]. - The financial report for the first half of 2020 was not audited[177].