Financial Performance - The company's operating revenue for 2021 was ¥1,847,652,275.42, representing a 53.29% increase compared to ¥1,205,320,762.44 in 2020[27]. - The net profit attributable to shareholders for 2021 was ¥763,176,262.84, a 69.72% increase from ¥449,669,089.29 in 2020[27]. - The net profit after deducting non-recurring gains and losses for 2021 was ¥683,000,336.88, up 66.39% from ¥410,489,425.38 in 2020[27]. - The net cash flow from operating activities for 2021 was ¥342,895,357.22, a 34.00% increase compared to ¥255,888,493.31 in 2020[27]. - The total assets at the end of 2021 were ¥4,459,859,879.28, reflecting a 20.91% increase from ¥3,688,620,303.58 at the end of 2020[27]. - The net assets attributable to shareholders at the end of 2021 were ¥4,017,287,971.62, a 16.30% increase from ¥3,454,116,708.78 at the end of 2020[27]. - The basic earnings per share for 2021 was ¥1.91, a 59.17% increase from ¥1.20 in 2020[27]. - The diluted earnings per share for 2021 was also ¥1.91, reflecting the same growth of 59.17% from ¥1.20 in 2020[27]. - The company reported a government subsidy of ¥51,081,238.82 in 2021, compared to ¥25,522,516.37 in 2020[35]. - The company experienced a net loss from the disposal of non-current assets amounting to -¥6,536,628.73 in 2021, an improvement from -¥7,745,972.93 in 2020[35]. Production and Sales - The company has an annual production capacity of 70 million kilometers of diamond wire, with total sales of 45.41 million kilometers in 2021, leading the industry in capacity layout and market share[42]. - In 2021, the company achieved a diamond wire sales volume of 45.41 million kilometers, an increase of 82.80% compared to 24.84 million kilometers in 2020[69]. - The company's operating revenue for 2021 was 1.85 billion yuan, representing a year-on-year growth of 53.29% from 1.21 billion yuan in 2020[70]. - The average sales price of diamond wire in 2021 was 40.17 yuan per kilometer, a decrease of 15.68% compared to the previous period[69]. - The sales revenue of electroplated diamond wire reached ¥1,823,942,496.52, accounting for 98.72% of total sales[73]. - The sales volume of electroplated diamond wire was 45,408.2 million kilometers, an increase of 82.80% year-on-year[75]. - The production volume of electroplated diamond wire was 52,748.5 million kilometers, reflecting a growth of 100.41% compared to 2020[78]. Research and Development - The company has a strong R&D capability, continuously innovating to meet the demand for thinner diamond wires, reducing the line diameter from 45μm to 38μm[61]. - Research and development (R&D) investment amounted to ¥86,692,670.62 in 2021, representing 4.69% of operating revenue, a decrease from 7.41% in 2020[91]. - The number of R&D personnel decreased by 68.32% from 303 in 2020 to 96 in 2021, with the proportion of R&D personnel dropping from 14.55% to 3.92%[91]. - The R&D projects include 17 sub-projects aimed at improving product performance and reducing production consumption[88]. - The company is focusing on developing new specifications and materials for the core raw material, which is crucial for maintaining competitive advantages in the market[88]. - The company has made significant adjustments to its R&D personnel structure to enhance efficiency and align with production needs[91]. Market Position and Strategy - The company maintains strong partnerships with major clients in the photovoltaic sector, including Longi Green Energy, JinkoSolar, and JA Solar, while also expanding its customer base to new clients like Highview Solar and Beijing Jingyun Technology[42]. - The diamond wire market is expected to grow significantly due to the increasing demand from the photovoltaic industry, with domestic new installed capacity reaching 54.88 GW in 2021 and projected to continue rising over the next five years[42]. - The company aims to maintain a market share increase by enhancing customer satisfaction through improved production processes and technical exchanges[65]. - The company plans to further expand its production capacity based on market demand, ensuring reliable supply and quick response to customer orders[68]. - The marketing strategy emphasizes service, value, efficiency, and quality, with plans to diversify customer groups and expand international business[152]. Governance and Management - The company maintained a governance structure that complies with the Company Law and relevant regulations, ensuring the protection of shareholder rights[171]. - The company operates independently from its controlling shareholders in terms of assets, personnel, finance, and business operations[172]. - The company has established an independent financial department and accounting system, ensuring compliance with tax regulations[172]. - The company has a complete independent business operation capability, separate from its controlling shareholders[172]. - The company’s board of directors and management team have been stable, with no significant changes reported during the period[181]. - The company has a strong focus on research and development, with key personnel holding advanced degrees and experience in materials science and technology[190]. - The company is committed to maintaining high standards of governance and transparency in its operations[191]. Investment and Financial Management - The total amount of raised funds is CNY 1,750,837,600.00, with a net amount of CNY 1,647,534,161.91 after deducting issuance costs[125]. - As of December 31, 2021, the balance of raised funds is CNY 1,047,695,876.90, with CNY 651,500,505.13 invested in projects[125]. - The company completed a significant equity investment of CNY 462,000,000.00 in Meichang Technology Co., holding a 100% stake[107]. - The company has utilized its own funds for the investments in the new production lines, demonstrating financial independence[119]. - The company reported a net cash outflow from investment activities of ¥1,471,063,557.25, a significant increase of 96.56% year-on-year[95]. Challenges and Risks - The company faces risks from intense competition in the diamond wire manufacturing industry, with many new entrants increasing production capacity[157]. - The company acknowledges potential risks related to product quality control, which could impact market share and brand reputation[158]. - The company recognizes the challenges posed by high silicon prices and ecological restrictions affecting the photovoltaic industry's growth[157]. - The report indicates that the company has not achieved the planned progress and expected returns for its projects, primarily due to construction delays[119].

Financial Performance - The company's revenue for Q3 2021 reached ¥444,620,290.27, representing a 54.84% increase year-over-year[3] - Net profit attributable to shareholders for Q3 2021 was ¥183,529,159.71, up 75.43% compared to the same period last year[3] - The net profit after deducting non-recurring gains and losses for Q3 2021 was ¥175,292,201.80, reflecting a 74.96% increase year-over-year[3] - The net profit attributable to shareholders for the first nine months of 2021 was ¥551,236,275.34, which is a 69.73% increase compared to the same period last year[8] - Total operating revenue for the period reached ¥1,271,253,511.11, compared to ¥871,325,226.62 in the previous period, representing a significant increase[37] - Net profit for the period was ¥551,236,275.34, compared to ¥327,588,262.26 in the previous period, indicating strong growth[40] - The company's equity attributable to shareholders increased to ¥3,805,347,984.12 from ¥3,454,116,708.78 in the previous period[35] - The basic and diluted earnings per share increased to ¥1.3781 from ¥0.8911, reflecting a growth of 54.6%[43] - The company reported a total comprehensive income of approximately ¥551.24 million, compared to ¥327.59 million in the previous period, indicating an increase of 68.2%[43] Assets and Liabilities - The total assets as of the end of Q3 2021 amounted to ¥4,224,530,261.11, a 14.53% increase from the end of the previous year[3] - Non-current assets totaled ¥819,740,958.63, an increase from ¥625,298,077.39 in the previous period[35] - Total liabilities amounted to ¥419,182,276.99, up from ¥234,503,594.80 in the previous period[35] - The company's cash and cash equivalents decreased by 85.92% to ¥210,593,281.24, primarily due to cash management strategies[12] - Total current assets as of September 30, 2021, amounted to ¥3,404,789,302.48, an increase from ¥3,063,322,226.19 as of December 31, 2020[28] - The trading financial assets increased to ¥2,047,344,466.69 from ¥751,578,472.21 year-over-year[28] Operational Highlights - The company sold 30.8568 million kilometers of diamond wire for electroplating in the first nine months of 2021, generating revenue of ¥1,271,253,511.11, a 45.90% increase year-over-year[8] - The company has expanded its production capacity for silicon cutting diamond wire to over 70 million kilometers annually as of September 2021[8] - The company plans to enhance its product development focusing on thinner wire diameters and improved cutting quality to meet market demands[8] - The company plans to continue expanding its market presence and investing in new product development to sustain growth[19] Cash Flow and Expenses - The company reported a net cash flow from operating activities of ¥217,976,606.47 for the first nine months of 2021, an increase of 33.22% year-over-year[3] - Cash flow from operating activities generated a net amount of approximately ¥217.98 million, up from ¥163.62 million, indicating a year-over-year increase of 33.2%[47] - Total cash inflow from investment activities was approximately ¥6.68 billion, with cash outflow for investment activities totaling approximately ¥7.97 billion, resulting in a net cash outflow of approximately ¥1.30 billion[50] - The cash flow from financing activities showed a net outflow of approximately ¥203.55 million, compared to an inflow of ¥1.65 billion in the previous period[50] - The company received cash from sales of goods and services totaling approximately ¥681.22 million, compared to ¥609.75 million in the previous period, marking an increase of 11.7%[47] - Cash paid to employees increased to approximately ¥188.86 million from ¥137.52 million, reflecting a rise of 37.3%[47] Shareholder Information - The company had a total of 362,434,220 shares with 164,040,926 shares released from restrictions during the reporting period[27] - The top ten unrestricted shareholders held a total of 198,393,294 shares, with significant holdings from Zhang Yingjiu and Jia Haibo at 61,103,551 and 34,744,984 shares respectively[24] - The company reported a total of 198,393,294 restricted shares as of August 24, 2021, with various shareholders having their shares released on that date[24] - The company is actively managing its shareholder structure, with several private equity funds involved in its capital[23] Inventory and Receivables - The company’s inventory increased by 53.60% to ¥334,848,093.79, driven by the need for higher safety stock levels[12] - The accounts receivable financing rose by 64.08% to ¥537,257,541.36, reflecting growth in the company's main business sales[12] - Accounts receivable stood at ¥247,885,856.18, slightly up from ¥244,298,013.38 in the previous year[28] - Inventory levels rose to ¥334,848,093.79 compared to ¥217,997,876.62 in the previous year[28] Research and Development - Research and development expenses for the period were ¥62,020,318.64, down from ¥70,349,985.66 in the previous period[40] Other Financial Metrics - The company reported a significant increase in other income, totaling ¥33,178,097.60, which is a 682.03% increase attributed to government subsidies[16] - The financial expenses decreased by 77.34%, resulting in a net financial income of -¥1,897,547.61, influenced by changes in deposit balances and foreign exchange rates[16] - The company's deferred income tax liabilities increased to ¥79,440,059.25 from ¥50,583,825.66 in the previous period[35] Audit Status - The third-quarter report was not audited, indicating that the figures presented are preliminary[60]

Financial Performance - The company's operating revenue for the reporting period was ¥826,633,220.84, representing a 41.50% increase compared to ¥584,175,632.97 in the same period last year[29]. - The net profit attributable to shareholders was ¥367,707,115.63, a 67.50% increase from ¥219,530,968.23 year-on-year[29]. - The net profit after deducting non-recurring gains and losses was ¥315,605,702.61, up 44.89% from ¥217,821,816.33 in the previous year[29]. - The net cash flow from operating activities was ¥166,447,312.00, reflecting a 69.74% increase compared to ¥98,060,895.69 in the same period last year[29]. - The total assets at the end of the reporting period were ¥4,007,806,927.89, an 8.65% increase from ¥3,688,620,303.58 at the end of the previous year[29]. - The net assets attributable to shareholders were ¥3,621,818,824.41, a 4.86% increase from ¥3,454,116,708.78 at the end of the previous year[29]. - The company's revenue for the reporting period reached ¥826,633,220.84, a 41.50% increase compared to ¥584,175,632.97 in the same period last year, primarily due to a significant increase in sales volume[69]. Investment and R&D - The company plans to increase R&D investment in other diamond tool areas to diversify its product offerings and create new growth points[39]. - Research and development expenses amounted to ¥39,909,895.52, reflecting a 58.91% increase from ¥25,115,388.17, indicating the company's commitment to enhancing R&D efforts[69]. - The company has a strong emphasis on R&D, with all major production processes and equipment being independently developed, ensuring high technical autonomy[61]. - The company is actively researching the application of diamond wire in cutting hard and brittle materials such as sapphire and precision ceramics[39]. - Ongoing research and development efforts are focused on innovative materials, with a commitment to invest 5 million in new technology initiatives[179]. Market Position and Strategy - The company continues to focus on technological innovation and quality improvement in the diamond wire industry, maintaining a leading market share in the photovoltaic sector[39]. - The company is positioned as a leading supplier of diamond wire for major photovoltaic companies, including Longi and Jinko[56]. - The company anticipates significant growth in global photovoltaic installations during the "14th Five-Year Plan" period, driven by carbon neutrality goals and green recovery initiatives[60]. - The company is expanding its marketing team and adjusting its marketing mechanisms to strengthen its competitive advantage in the diamond wire market[118]. - The company plans to enhance its market presence through strategic partnerships and potential acquisitions in the next 12 months[182]. Environmental Management - The company has implemented strict environmental management systems and regulations to ensure compliance with national laws and standards[151]. - The company has established a comprehensive environmental monitoring plan, regularly engaging qualified third-party firms for assessments[152]. - The company has invested in various environmental protection facilities, including wastewater treatment and hazardous waste storage systems, which are operating normally[151]. - The company has committed to maintaining its environmental protection measures and has developed emergency response plans for environmental incidents[151]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[153]. Corporate Governance and Shareholder Engagement - The company reported a plan not to distribute cash dividends, issue bonus shares, or increase capital from reserves[6]. - The company has not reported any changes in its registration status during the reporting period[28]. - The company has not engaged in any significant non-equity investments during the reporting period[92]. - The company has not used idle raised funds to temporarily supplement working capital[101]. - The management has assured compliance with the established profit distribution plan, emphasizing a focus on long-term shareholder value[179]. Subsidiaries and Structure - The company has a total of 5 wholly-owned subsidiaries, including Yangling Meichang Technology Co., Ltd. and Shaanxi Baomeisheng Precision Steel Wire Co., Ltd.[15]. - The company has established a new subsidiary, Meichang Technology Co., Ltd., aimed at enhancing core competitiveness and sustainable development, although it is not expected to have a major short-term profit impact[114]. - The registered capital of Yangling Meichang Technology Co., Ltd. is CNY 100 million, with total assets of approximately CNY 1.74 billion[110]. Challenges and Risks - The company is facing challenges in the photovoltaic industry due to supply-demand tensions and regulatory uncertainties, which may affect the growth of diamond wire market demand[117]. - The company acknowledges the risk of increased competition in the diamond wire manufacturing industry, which has attracted numerous new entrants due to high profit margins[117]. Financial Management - The total amount of raised funds is CNY 1,647,534,161.91 after deducting related issuance costs[93]. - The company has not reported any significant changes in the measurement attributes of its main assets during the reporting period[81]. - The company’s financial liabilities remained at 0.00 CNY, indicating no outstanding debts[81]. - The total amount of entrusted financial management during the reporting period is CNY 593,000 million, with no overdue amounts[103].

Financial Performance - The company's revenue for Q1 2021 was ¥362,683,330.08, representing a 19.14% increase compared to ¥304,410,228.18 in the same period last year[8]. - Net profit attributable to shareholders was ¥190,808,378.51, a significant increase of 61.45% from ¥118,182,360.63 year-on-year[8]. - The net profit after deducting non-recurring gains and losses was ¥148,499,228.27, up 28.05% from ¥115,967,494.13 in the previous year[8]. - Basic and diluted earnings per share were both ¥0.48, reflecting a 45.45% increase from ¥0.33 in the previous year[8]. - Operating profit was 213.44 million yuan, reflecting a growth of 47.78% year-on-year[31]. - Total profit amounted to 223.43 million yuan, an increase of 55.80% compared to the previous year[31]. - The total comprehensive income for the period was CNY 190,808,378.51, compared to CNY 118,182,360.63 in the previous period, representing an increase of approximately 61.2%[82]. Cash Flow and Liquidity - The net cash flow from operating activities reached ¥121,190,172.35, marking a 132.90% increase from ¥52,034,573.22 in the same period last year[8]. - The company's cash and cash equivalents decreased by 85.26% to ¥220,369,283.53 from ¥1,495,264,154.18 due to the purchase of structured deposits[26]. - The cash inflow from operating activities totaled 291,760,862.43, compared to 44,544,939.24 in the prior period, indicating a substantial increase[98]. - The cash outflow from operating activities was 34,211,154.31, a decrease from 160,423,441.56 in the prior period, showing improved cost management[98]. - The company experienced a net decrease in cash and cash equivalents of -1,074,470,226.42, compared to an increase of 65,035,977.78 in the previous period[101]. Assets and Liabilities - Total assets at the end of the reporting period were ¥3,982,888,980.51, a 7.98% increase from ¥3,688,620,303.58 at the end of the previous year[8]. - The company's total liabilities increased by 72.93% in accounts payable to ¥138,294,886.54 from ¥79,970,404.17, due to increased sales scale and raw material procurement[26]. - The company's expected liabilities decreased by 69.78% to ¥754,983.00 from ¥2,498,102.26, primarily due to payments related to relevant expenses[26]. - The company's total liabilities as of March 31, 2021, were ¥42,267,286.65, a slight increase from ¥42,065,448.28 at the end of 2020[74]. - Total liabilities rose to CNY 337,963,893.22 as of March 31, 2021, compared to CNY 234,503,594.80 at the end of 2020, marking an increase of approximately 43.41%[63]. Research and Development - Research and development expenses rose by 85.88% to ¥17,017,031.27 from ¥9,155,008.37, driven by increased investment in new product and technology development[28]. - Research and development expenses for Q1 2021 were ¥17,017,031.27, which is an increase of 85.5% compared to ¥9,155,008.37 in Q1 2020[77]. - The company is investing in talent acquisition and establishing a new industrial park and R&D center in Xi'an to enhance its management and innovation capabilities[38]. Government Support and Subsidies - The company received government subsidies totaling ¥34,000,000.00 during the reporting period[8]. - The company reported a significant increase in other income by 460.74% to ¥24,078,097.60 from ¥4,293,972.46, attributed to increased government project subsidies[28]. Strategic Initiatives and Market Position - The company is focusing on cost reduction and efficiency improvement, resulting in a significant decrease in product costs compared to the same period last year[31]. - The company is actively expanding its supply chain and enhancing its core competitiveness through technology innovation[35]. - The company faces risks related to market competition and the impact of the photovoltaic industry's development on diamond wire demand[32]. - The company has made adjustments to the implementation methods of several projects, including the "Meichang Industrial Park" and "High-efficiency Diamond Wire" projects[46]. Investment and Fund Utilization - The total amount of raised funds is 164,753.42 million RMB, with no changes in usage reported[43]. - The investment in the "Research and Development Center" project is 16,400 million RMB, with a progress rate of 1.24%[43]. - The "High-efficiency Diamond Wire Construction Project" has an investment of 71,000 million RMB, with a progress rate of 27.61%[43]. - The total investment in committed projects is 164,753.42 million RMB, with 27,006 million RMB already utilized[43]. - As of March 31, 2021, unused raised funds and interest amount to 1,340,000,000.00 RMB, with the remainder held in five dedicated accounts[48].

Financial Performance - The company's operating revenue for 2020 was ¥1,205,320,762.44, representing a year-over-year increase of 1.01%[21]. - The net profit attributable to shareholders for 2020 was ¥449,669,089.29, showing a growth of 10.30% compared to the previous year[21]. - The net profit after deducting non-recurring gains and losses was ¥410,489,425.38, an increase of 8.08% from 2019[21]. - The total assets at the end of 2020 reached ¥3,688,620,303.58, a significant increase of 121.99% compared to the end of 2019[21]. - The company achieved a basic earnings per share of ¥1.20, up 6.19% from ¥1.13 in 2019[21]. - The company's total revenue for 2020 was 1.205 billion yuan, representing a year-on-year growth of 1.01%[63]. - The net profit attributable to the parent company for 2020 was 450 million yuan, an increase of 10.30% compared to 2019[61]. - The company's fixed assets increased by 18.27% year-on-year, primarily due to capacity expansion and new equipment purchases[52]. - The average selling price of diamond wire in 2020 was 47.64 yuan per kilometer, a decrease of 36% compared to the previous year[61]. - The company's total assets increased by 121.99% year-on-year, reaching 3.689 billion yuan by the end of 2020[61]. Cash Flow and Investments - The company’s cash flow from operating activities decreased by 27.22% to ¥255,888,493.31 in 2020[21]. - Cash and cash equivalents surged by 301.67% year-on-year, mainly due to funds raised from the initial public offering[52]. - The company reported a significant increase in financing cash inflow by 10,693.99% to ¥1,675,401,431.55 due to new stock issuance[82]. - The company's inventory decreased by 9.70% to ¥217,997,876.62, reflecting improved sales performance[88]. - The total amount of funds raised was ¥1,750,837,600, with a net amount of ¥1,647,534,161.91 after deducting related issuance expenses[102]. - The company has committed to invest ¥46,200,000 in the "Meichang Industrial Park Construction Project," which has not yet been utilized[104]. - The company received interest income of ¥14,914,695.59 from bank structured deposits during the reporting period[102]. Research and Development - The company plans to invest in research and development for other diamond tool products to diversify its offerings and drive future growth[31]. - Research and development expenses totaled ¥89,258,323.97, representing 7.41% of operating revenue, with ongoing projects including the development of sapphire cutting wires and various specifications of mother lines[78]. - The number of R&D personnel increased to 303 in 2020, accounting for 14.55% of the total workforce, up from 8.97% in 2019[80]. - The company has obtained 15 authorized patents during the reporting period, enhancing its competitive advantage in technology[78]. - The company holds a total of 74 authorized patents, providing effective protection for its core technologies[56]. Market Position and Strategy - The company is focused on expanding its market presence and enhancing its product offerings in the new materials sector[4]. - The company has established partnerships with major clients in the photovoltaic industry, including Longi Green Energy and JinkoSolar, enhancing its market presence[31]. - The company has achieved a global leading market share in the photovoltaic industry, becoming a key supplier for major crystalline silicon wafer manufacturers[39]. - The company aims to enhance its marketing network by diversifying its customer base and actively expanding into international markets, particularly in the sapphire, precision ceramics, and magnetic materials sectors[164]. - The company plans to expand its product applications beyond silicon wafer cutting to include sapphire and magnetic materials, as well as develop other diamond products like metal bond and resin bond diamond wheels[163]. Dividend Policy - The company plans to distribute a cash dividend of 5 RMB per 10 shares (including tax) based on a total of 400,010,000 shares[4]. - The company has a cash dividend policy that prioritizes stable and sustainable returns to shareholders, considering factors such as profitability, cash flow, and investment needs[177]. - The total distributable profit for 2020 was reported at 400,927,759.61 RMB, with cash dividends representing 100% of the total profit distribution[186]. - The company will consider mid-term dividends based on profit scale, cash flow, and funding needs[181]. - The company commits to distributing at least 10% of the annual distributable profit in cash dividends each year, with a cumulative cash distribution of no less than 30% of the average annual distributable profit over the last three years[199]. Risks and Challenges - The company has outlined potential risks and corresponding countermeasures in its future development outlook section[4]. - The company faces risks related to market competition, particularly due to the volatility in the photovoltaic industry, which affects the demand for diamond wire[167]. - The company has a robust quality management system certified by authoritative institutions, but acknowledges the risk of potential quality issues impacting market share and brand reputation[170]. - The company has established safety regulations to mitigate risks associated with production accidents, which could affect financial performance and reputation[171].

Financial Performance - Operating revenue for the reporting period was ¥287,149,593.65, a decrease of 3.19% compared to the same period last year[8]. - Net profit attributable to shareholders was ¥104,617,295.20, representing an increase of 8.00% year-on-year[8]. - Net profit excluding non-recurring gains and losses was ¥100,187,759.18, down 6.34% from the previous year[8]. - Basic earnings per share for the reporting period was ¥0.2802, an increase of 4.01% year-on-year[8]. - The weighted average return on equity was 4.79%, down 30.04% compared to the previous year[8]. - Total operating revenue for the current period is ¥287,149,593.65, a decrease of 3.9% from ¥296,620,601.67 in the previous period[53]. - Net profit for the current period is ¥105,147,735.26, compared to ¥96,975,407.75 in the previous period, reflecting an increase of 8.1%[59]. - The company's net profit for the current period is CNY 327,588,262.26, an increase from CNY 318,545,081.45 in the previous period, representing a growth of approximately 3.27%[73]. - The total profit for the current period is CNY 378,794,414.53, an increase from CNY 369,625,899.13 in the previous period, representing a growth of about 2.1%[73]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥3,578,021,383.57, an increase of 115.33% compared to the previous year[8]. - The company's total assets amounted to CNY 3,578,021,383.57, a significant increase from CNY 1,661,623,174.28 at the end of 2019[35]. - The total liabilities decreased to CNY 220,123,338.07 from CNY 278,847,552.95, a decrease of about 21.0%[41]. - The total liabilities to total assets ratio stands at approximately 16.77%, indicating a relatively low leverage[102]. - The company reported a total liability of CNY 278,847,552.95, with current liabilities at CNY 234,321,372.34 and non-current liabilities at CNY 44,526,180.61[102]. Shareholder Equity - Net assets attributable to shareholders increased to ¥3,347,379,479.64, reflecting a growth of 143.43% year-on-year[8]. - The company's equity attributable to shareholders rose to CNY 3,347,379,479.64, compared to CNY 1,375,078,240.37, marking an increase of about 143.2%[44]. - Owner's equity increased to ¥2,817,677,466.65 from ¥1,131,910,940.65, indicating strong retained earnings growth[51]. - The total equity attributable to shareholders was CNY 1,375,078,240.37, with total equity including minority interests at CNY 1,382,775,621.33[105]. Cash Flow - Net cash flow from operating activities was ¥65,562,340.72, a decline of 33.85% compared to the same period last year[8]. - Cash inflow from operating activities totaled CNY 633,606,943.70, a decrease of 17.9% compared to CNY 771,113,020.47 in the previous period[86]. - Cash inflow from financing activities amounted to CNY 1,675,401,431.55, with a net cash flow of CNY 1,646,259,703.25 after outflows[92]. - The net increase in cash and cash equivalents was CNY -259,063,548.27, contrasting with an increase of CNY 118,822,302.09 in the previous period[88]. Investments and Expenses - Research and development expenses increased significantly to ¥45,234,597.49 from ¥24,017,117.97, indicating a focus on innovation[56]. - The company made an investment payment of RMB 2,050,000,000.00, a significant increase of 7,482.39%, primarily for financial management purposes[25]. - The company's financial expenses increased by 173.48% to RMB -8,375,288.51, mainly due to higher interest income and foreign exchange gains[22]. - Research and development expenses for the current period amount to CNY 15,668,836.30, a decrease from CNY 40,208,598.64 in the previous period, showing a reduction of about 61.0%[80]. Other Financial Metrics - The company reported government subsidies recognized in the current period amounting to ¥6,350,343.12[8]. - Cash received from tax refunds increased by 167.00% to RMB 2,585,481.54, primarily due to VAT refunds[25]. - The company has plans for market expansion and new product development, although specific figures were not disclosed in the report[37]. - The company has implemented new revenue and leasing standards effective from January 1, 2020, impacting financial reporting[116].