Financial Performance - The total revenue for 2020 was approximately ¥571.1 million, representing a 0.56% increase compared to ¥567.9 million in 2019[19]. - The net profit attributable to shareholders for 2020 was approximately ¥87.3 million, marking a 16.02% increase from ¥75.3 million in 2019[19]. - The net cash flow from operating activities for 2020 was negative at approximately -¥100.6 million, a decrease of 147.49% compared to ¥211.8 million in 2019[19]. - The basic earnings per share for 2020 was ¥0.68, up 6.25% from ¥0.64 in 2019[19]. - The total assets at the end of 2020 were approximately ¥1.1 billion, a 50.32% increase from ¥732.1 million at the end of 2019[19]. - The net assets attributable to shareholders at the end of 2020 were approximately ¥812.6 million, reflecting a 112.79% increase from ¥381.9 million at the end of 2019[19]. - The weighted average return on equity for 2020 was 17.08%, down from 21.87% in 2019, indicating a decrease of 4.79%[19]. - The company achieved operating revenue of 571.10 million yuan, a year-on-year increase of 0.56%[47]. - The net profit attributable to the parent company was 87.34 million yuan, reflecting a growth of 16.02% compared to the previous year[47]. - Total assets increased by 50.32% to 1.10 billion yuan, while equity attributable to the parent company rose by 112.79% to 812.55 million yuan[47]. Cash Flow and Investments - The net cash flow from operating activities turned negative at -¥100,596,249.76, a decline of 147.49% year-on-year[67]. - Total cash and cash equivalents increased by ¥52,748,242.08, a decrease of 68.83% compared to the previous year[70]. - Investment cash inflow surged by 290.78% to ¥277,671,094.83, while outflow increased by 318.53%[67]. - The company reported a net profit of ¥87,335,500, with a significant discrepancy of ¥18,793,170 between net profit and cash flow from operating activities[70]. - The company has a cash management balance of RMB 140 million from idle raised funds[87]. Research and Development - Research and development investment amounted to 35.37 million yuan, representing 6.19% of operating revenue[49]. - The company holds a total of 63 patents, including 6 invention patents and 57 utility model patents[49]. - The R&D strategy focuses on product innovation and improvement, with collaborations with universities to enhance technological capabilities[32]. - The company is increasing R&D investment, focusing on data analysis and algorithms to enhance its technological competitiveness[93]. - The company plans to strengthen its position in the smart energy metering industry, focusing on technological innovation and product quality improvement[91]. Market Presence and Sales - The company is actively expanding its overseas market presence, with some products already sold internationally[31]. - Domestic sales accounted for 99.44% of total revenue at ¥567,928,304.79, while international sales were only 0.56% at ¥3,174,117.87, reflecting a 27.30% decline year-on-year[56]. - The revenue from smart meters decreased by 9.45% to ¥307,627,351.16, accounting for 53.87% of total revenue, while the revenue from electricity information collection systems surged by 97.98% to ¥146,487,426.40, making up 25.65% of total revenue[55]. - The company is actively exploring strategic development directions in the energy internet industry, including international talent acquisition and mergers and acquisitions[93]. Shareholder and Dividend Policies - The company plans to distribute a cash dividend of ¥3 per 10 shares, with no bonus shares issued[6]. - The cash dividend represents 54.02% of the net profit attributable to the parent company, which is 87,335,549.41 CNY for the year 2020[115]. - The total distributable profit for shareholders as of December 31, 2020, is 257,591,658.37 CNY, which includes retained earnings from previous years[113]. - The company has not made any profit distributions in the years 2018 and 2019, with the first distribution occurring in 2020[114]. - The company adheres to a clear profit distribution policy, ensuring compliance with relevant laws and regulations regarding cash dividends[110]. Corporate Governance and Management - The company has a structured governance framework with a clear delineation of roles among the board, management, and supervisory committees[180]. - The management team is focused on maintaining transparency and accountability in shareholding practices[117]. - The company has maintained a stable audit relationship with Tianjian Accounting Firm for 7 years, with an audit fee of CNY 700,000[129]. - The company has a diverse board with members holding various professional backgrounds, including engineering, finance, and law[179]. - The company has established a fair, just, transparent, and reasonable performance evaluation and incentive mechanism for senior management[199]. Risk Management - The company acknowledges risks related to dependence on domestic power industry clients and market competition, and plans to adapt its strategies accordingly[102][103]. - The company has established a robust internal control system to mitigate risks associated with core technology leakage and management challenges[104][105]. - The company has committed to ensuring that no illegal occupation of company funds or assets occurs[124]. Social Responsibility and Compliance - The company has actively fulfilled its social responsibilities, including donations during the COVID-19 pandemic[149]. - The company is not classified as a key pollutant discharge unit and has complied with environmental protection laws[152]. - The company has made commitments to protect the rights of shareholders and ensure compliance with relevant laws and regulations[124].

Revenue and Profitability - The company's revenue for Q1 2021 was ¥71,433,152.11, representing a 9.95% increase compared to ¥64,968,068.81 in the same period last year[9]. - The net profit attributable to shareholders decreased by 23.92% to ¥8,456,025.96 from ¥11,114,824.79 year-on-year[9]. - The net profit after deducting non-recurring gains and losses fell by 32.28% to ¥5,353,420.67 from ¥7,904,984.43 in the previous year[9]. - Basic and diluted earnings per share decreased by 44.44% to ¥0.05 from ¥0.09 year-on-year[9]. - The total profit for the current period was ¥10,657,744.07, compared to ¥13,124,468.73 in the previous period, indicating a decline of about 19%[46]. - The company's operating profit was ¥10,633,357.03, down from ¥13,469,480.46 in the previous period, reflecting a decrease of approximately 21%[46]. - The total comprehensive income for the current period was ¥8,456,025.96, down from ¥11,114,824.79 in the previous period[46]. Cash Flow and Financial Position - The net cash flow from operating activities improved by 36.08%, reaching -¥29,822,666.09 compared to -¥46,656,796.37 in the same period last year[9]. - The cash flow from operating activities was ¥107,753,243.22, significantly higher than ¥71,287,361.48 in the previous period[51]. - The net cash flow from operating activities was -29,956,671.91 yuan, an improvement from -46,972,702.14 yuan in the previous period, indicating a 36.5% reduction in cash outflow[57]. - Total cash inflow from operating activities was 119,096,999.55 yuan, compared to 107,850,747.60 yuan in the previous period, representing an increase of 10.6%[56]. - Cash outflow from operating activities totaled 149,053,671.46 yuan, down from 154,823,449.74 yuan, showing a decrease of 3.5%[56]. - The ending balance of cash and cash equivalents was 396,583,907.48 yuan, compared to 300,128,574.22 yuan in the previous period, reflecting an increase of 32.1%[57]. - The company reported a cash decrease of -10,151,362.74 yuan for the period, an improvement from -53,725,962.90 yuan in the previous period[57]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,036,350,092.87, a decrease of 5.83% from ¥1,100,562,299.65 at the end of the previous year[9]. - Total liabilities decreased to CNY 215,522,833.80 from CNY 288,647,508.89, a reduction of approximately 25.3%[41]. - The company's equity increased to CNY 821,008,424.39 from CNY 812,347,125.44, reflecting a growth of 1.8%[41]. - As of March 31, 2021, total current assets were CNY 844,348,590.42, down from CNY 920,721,227.90 at the end of 2020[35]. - Cash and cash equivalents decreased to CNY 399,931,213.32 from CNY 409,989,213.79[35]. - Accounts receivable decreased to CNY 269,542,932.59 from CNY 317,376,255.56[35]. - Inventory increased to CNY 31,098,454.76 from CNY 18,167,477.51[35]. Research and Development - Research and development expenses increased by 72.13% to 9,422,287.29 yuan, indicating a rise in investment in R&D activities[20]. - Research and development expenses reached CNY 9,422,287.29, significantly higher than CNY 5,473,970.09, indicating a 72.5% increase[44]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 19,867[13]. - Net assets attributable to shareholders increased by 1.04% to ¥821,010,464.06 from ¥812,554,438.10 at the end of the previous year[9]. Government Support and Funding - The company received government subsidies amounting to ¥2,818,321.30 during the reporting period[10]. - Total raised funds for the quarter amounted to CNY 34,336.14 million, with CNY 1,846.55 million invested during this period[26]. - Cumulative investment from raised funds reached CNY 18,639.54 million, with no changes in usage reported[26]. - The company has not encountered any issues regarding the use and disclosure of raised funds[28]. Operational Efficiency - The company reported a net profit increase driven by improved operational efficiency and cost management strategies[44]. - The company's top five suppliers accounted for 60.56% of total purchases, with no significant changes in supplier structure[24]. - The top five customers contributed 64.39% of total sales, with no notable changes in customer structure[24]. - The company plans to continue expanding its market share and enhancing core competitiveness through technology innovation[24].

Financial Performance - Operating revenue for the reporting period was ¥131,426,843.88, a slight decrease of 0.35% compared to the same period last year[9]. - Net profit attributable to shareholders of the listed company was ¥19,860,634.65, representing an increase of 80.09% year-on-year[9]. - Basic earnings per share increased to ¥0.16, up 77.78% from the previous year[9]. - Operating profit increased to CNY 22,683,090.85, compared to CNY 13,366,180.59 in the same period last year, representing a growth of approximately 69.5%[40]. - Net profit for the quarter reached CNY 19,860,634.65, up from CNY 11,028,137.74, indicating an increase of about 80.5% year-over-year[40]. - Total comprehensive income for the quarter was CNY 19,860,634.65, compared to CNY 11,028,137.74, reflecting strong overall performance[41]. - The company reported a significant increase in investment income, which rose to CNY 1,389,940.61 from CNY 918,882.20, reflecting a growth of 51.2%[49]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,041,108,584.88, an increase of 42.20% compared to the previous year[9]. - Net assets attributable to shareholders of the listed company amounted to ¥790,752,379.70, reflecting a growth of 107.08% year-on-year[9]. - Total current assets reached CNY 889.46 million, up from CNY 605.04 million year-on-year[30]. - Current liabilities decreased to CNY 244,625,500.44 from CNY 344,139,170.60, a reduction of about 29%[32]. - Non-current liabilities totaled CNY 5,730,704.74, down from CNY 6,148,121.58, indicating a decrease of approximately 6.8%[36]. - Total liabilities reached CNY 350,652,131.48, with current liabilities accounting for CNY 344,504,009.90[68]. Cash Flow - The net cash flow from operating activities was -¥96,403,720.44, a decline of 100.66% compared to the same period last year[9]. - The net cash flow from operating activities was negative at CNY -164,860,405.78, worsening from CNY -69,460,275.30 in the same period last year[54]. - Total cash inflow from investment activities was 71,391,115.36 yuan, while cash outflow was 330,641,044.10 yuan, resulting in a net cash flow from investment activities of -259,249,928.74 yuan[57]. - The net cash flow from financing activities was 345,402,140.15 yuan, a substantial increase compared to 298,772.92 yuan in the previous period[59]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 33,747[13]. - The largest shareholder, Zhejiang Wansheng Holdings Co., Ltd., holds 53.30% of the shares, totaling 83,823,530 shares[13]. Inventory and Receivables - Accounts receivable rose to CNY 339.24 million, a 112.51% increase year-on-year, attributed to sales payments still within the credit period[18]. - Inventory decreased by 33.50% to CNY 19.78 million, due to improved inventory management[18]. - Cash received from sales decreased by 39.38% to CNY 208.88 million, mainly due to lower payment collections[22]. Expenses and Financial Ratios - The company’s financial expenses decreased by 127.67% to CNY -1.73 million, due to increased cash balances and interest income[20]. - Research and development expenses amounted to CNY 9,167,837.39, slightly higher than CNY 8,621,957.65 in the previous period, reflecting a focus on innovation[42]. - Tax expenses for the quarter were CNY 2,878,675.13, compared to CNY 2,539,709.72 in the previous year, representing an increase of about 13.4%[40]. Capital and Reserves - The company reported a 503.80% increase in capital reserves to CNY 364.40 million, resulting from the premium on public stock issuance[18]. - The company’s retained earnings rose to CNY 244,760,546.92 from CNY 179,227,055.91, reflecting an increase of about 36.5%[33].