Financial Performance - The company's revenue for Q1 2021 was ¥22,501,462.56, representing a 186.49% increase compared to ¥7,854,082.31 in the same period last year[8] - Net profit attributable to shareholders reached ¥8,564,293.45, a significant increase of 1,871.03% from ¥434,509.30 in the previous year[8] - The net profit after deducting non-recurring gains and losses was ¥4,021,438.73, up 1,760.85% from ¥216,108.20 year-on-year[8] - The basic earnings per share rose to ¥0.1071, marking a 1,387.50% increase from ¥0.0072 in the same period last year[8] - The total operating revenue for Q1 2021 was CNY 22,501,462.56, a significant increase from CNY 7,854,082.31 in the previous period[46] - The net profit for Q1 2021 reached CNY 8,562,753.61, a substantial rise from CNY 401,806.94 in the previous year[48] - The total comprehensive income for the period is CNY 8,568,912.99, compared to CNY 532,616.38 in the previous period, representing a significant increase[52] Cash Flow and Liquidity - The net cash flow from operating activities improved to -¥3,430,903.97, a 78.97% improvement compared to -¥16,312,681.77 in the previous year[8] - Cash flow from operating activities improved by 78.97%, amounting to CNY -3,430,903.97, compared to CNY -16,312,681.77 in the same period last year[20] - The company’s cash and cash equivalents decreased by 33.38% to CNY 448,236,306.75, primarily due to investments in financial products[19] - As of March 31, 2021, cash and cash equivalents decreased to approximately 448.24 million RMB from 672.85 million RMB at the end of 2020, a decline of about 33.3%[38] - The total cash and cash equivalents at the end of the period is CNY 440,153,188.34, down from CNY 664,959,022.50 at the beginning of the period[57] - The company experienced a net decrease in cash and cash equivalents of -224,804,763.98 yuan during the period[60] Assets and Liabilities - Total assets at the end of the reporting period were ¥901,683,467.07, a slight decrease of 0.06% from ¥902,214,106.27 at the end of the previous year[8] - The total assets as of March 31, 2021, were approximately 901.68 million RMB, slightly down from 902.21 million RMB at the end of 2020[39] - The total liabilities decreased to approximately 76.15 million RMB from 85.24 million RMB, a reduction of about 10.5%[40] - The total liabilities decreased to CNY 76,144,935.41 from CNY 85,238,328.22 in the previous period[44] Shareholder Information - The total number of shareholders at the end of the reporting period was 15,526[12] - Net assets attributable to shareholders increased to ¥825,189,549.71, reflecting a growth of 1.05% from ¥816,625,256.26 at the end of the previous year[8] - The total equity attributable to shareholders of the parent company increased to CNY 825,644,347.37 from CNY 817,075,434.38[44] Research and Development - Research and development expenses increased by 124.98% to CNY 2,587,171.35, reflecting higher personnel costs in R&D[19] - Research and development expenses for Q1 2021 were CNY 2,587,171.35, compared to CNY 1,149,933.40 in the previous year, indicating a focus on innovation[47] - The company plans to enhance its product competitiveness by increasing R&D efforts and launching more differentiated new products[24] Market and Operational Strategy - The company plans to continue expanding its market presence and enhancing its core competencies in line with its annual operational plan[21] - The company aims to expand its market presence in both national railway and urban rail transit sectors to balance order volume and revenue sources[23] - The company signed significant contracts and expanded its business channels, particularly in response to the impact of the pandemic on railway construction projects[21] Risks and Challenges - The company faces risks from potential adjustments in national policies regarding railway and urban rail transit investments, which could impact operational performance[24] - The comprehensive gross profit margin for the reporting period was 50.55%, with potential risks of margin decline due to intensified market competition and product structure adjustments[24] - The company is actively managing accounts receivable to mitigate risks associated with overdue payments from clients, primarily railway bureaus and construction units[25] Fund Management - The total amount of raised funds was 481.73 million yuan, with 1.65 million yuan invested in the current quarter[28] - The company has a total of 145.42 million yuan in excess raised funds, with plans for their utilization still under consideration[28] - The company used 43 million RMB of over-raised funds to permanently supplement working capital[29] - The company has allocated 18 million RMB of unused raised funds for cash management, with the remainder held in a special account[29] - The company has approved the use of 4.67 million RMB of raised funds to replace pre-invested project funds and issuance expenses[29] Other Information - The company has not experienced any significant changes in project feasibility or unfulfilled commitments during the reporting period[26] - There were no significant changes in net profit or warnings of potential losses for the year[30] - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[32] - The first quarter report was not audited, which may affect the reliability of the financial data presented[63]

Financial Performance - The company reported a profit distribution plan of 5 RMB per 10 shares (including tax) for a total of 80,000,000 shares[4]. - The company's operating revenue for 2020 was ¥116,427,629.22, a decrease of 23.82% compared to ¥152,838,168.45 in 2019[17]. - The net profit attributable to shareholders for 2020 was ¥53,955,558.95, down 13.31% from ¥62,239,774.01 in 2019[17]. - The net cash flow from operating activities increased by 78.22% to ¥68,956,375.74 in 2020, compared to ¥38,692,047.83 in 2019[17]. - The total assets at the end of 2020 reached ¥902,214,106.27, representing a 148.99% increase from ¥362,342,782.41 at the end of 2019[17]. - The company's basic earnings per share for 2020 was ¥0.8750, a decrease of 15.65% from ¥1.0373 in 2019[17]. - The company reported a significant increase in total equity attributable to shareholders, which rose by 190.67% to ¥816,625,256.26 at the end of 2020[17]. - The company achieved operating revenue of 116.43 million yuan, a decrease of 23.82% compared to the previous year[69]. - The net profit attributable to shareholders was 53.96 million yuan, down 13.31% year-on-year[63]. - The company reported a total revenue of 1.2 billion RMB for the year 2020, reflecting a year-on-year growth of 15%[133]. Research and Development - The company is actively pursuing new product development and technological advancements to maintain its competitive edge in the industry[10]. - The company has a total of 31 patents, including 16 invention patents and 14 utility model patents, indicating strong R&D capabilities in the rail safety monitoring sector[47]. - The company's R&D investment reached 8.82 million yuan, accounting for 7.58% of its operating revenue, despite the impact of the pandemic on performance[51]. - The company has developed core technologies with independent intellectual property rights, participating in drafting several industry standards and regulations[56]. - The company plans to enhance its product and service technology levels in the rail transit industry, focusing on digitalization, information technology, and intelligent solutions[112]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[134]. - Investment in R&D for new technologies increased by 30%, totaling 150 million RMB, focusing on enhancing product capabilities[134]. - The company plans to launch three new products in the upcoming year, which are anticipated to contribute an additional 200 million RMB in revenue[138]. Market Position and Strategy - The company is committed to expanding its market presence and diversifying its operations within the rail transportation sector[10]. - The company’s revenue structure is shifting towards more information technology, intelligence, and specialized technology products, enhancing its market competitiveness[48]. - The company aims to diversify its market presence by expanding into both national railway and urban rail transit sectors to mitigate risks associated with customer concentration[120]. - The company has established a stable customer base, maintaining long-term relationships with railway departments and urban rail transit operators due to its reliable product quality and efficient service[53]. - The company’s market position is strengthened by its understanding of domestic rail transportation development patterns, leading to a competitive edge over foreign counterparts[47]. - The company plans to establish sales offices in key regional cities to strengthen its market presence and improve local technical service capabilities[115]. Financial Management and Governance - The company emphasizes the importance of accurate financial reporting, ensuring the authenticity and completeness of the annual report[3]. - The company has established a comprehensive procurement management system, ensuring quality and reliability in supplier selection and management[43]. - The company has implemented a project-based performance management system to foster innovation and competitiveness among R&D personnel[46]. - The company has established a robust governance structure to protect shareholder rights, ensuring transparency and fairness in information disclosure[171]. - The company confirmed compliance with all relevant laws and regulations regarding shareholder commitments[146]. - The company has not engaged in any major related party transactions throughout the year[155]. Shareholder and Stock Information - The company’s stock code is 300906, and it is listed on the Shenzhen Stock Exchange[13]. - The company successfully completed its initial public offering (IPO) of 20 million shares at a price of RMB 26.42 per share, with the shares listed on November 5, 2020[186]. - The total number of shares increased from 60 million to 80 million after the issuance of 20 million new shares, representing a 33.33% increase in total shares[180]. - The largest shareholder, Jiangxi Riyue Ming Industrial Co., Ltd., holds 39.36% of the shares, totaling 31,485,000 shares[189]. - The company has a total of 60 million restricted shares, all of which are subject to lock-up until November 5, 2023[184]. - The company will not transfer or delegate the management of its shares for 36 months after the IPO, ensuring stability in shareholding[131]. Operational Highlights - The company has established a strong foundation in the railway safety measurement and control market, which is critical for ensuring transportation safety[10]. - The company operates in the railway equipment manufacturing industry, which has seen increased investment and modernization efforts from the government[26]. - The company has maintained its core business in rail safety monitoring equipment without major changes during the reporting period[28]. - The company provides precision measurement and adjustment services for railway tracks, ensuring compliance with design specifications and enhancing operational safety and comfort[40]. - The company has participated in precision measurement and adjustment services for over ten railway lines, accumulating extensive on-site operational experience[54]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 1.32 billion RMB[143]. - The company has set a performance guidance of 1.5 billion RMB in revenue for the next fiscal year, indicating a 25% growth target[143]. - The company plans to enhance its talent acquisition strategy to strengthen its technical development, marketing, and management teams[116]. - The company aims to improve its economic efficiency based on 2020 performance, leveraging its measurement and control technology[113].