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].