| 证券代码：300933 | 证券简称：中辰股份 公告编号：2023-034 | | --- | --- | | 债券代码：123147 | 债券简称：中辰转债 | 中辰电缆股份有限公司 关于举办 2022 年度网上业绩说明会的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 中辰电缆股份有限公司（以下称"公司"）定于 2023 年 5 月 11 日（星期四） 下午 15:00—17:00 在全景网举办 2022 年度业绩说明会，本次年度业绩说明会将 采用网络远程的方式举行，投资者可登陆全景网"投资者关系互动平台" （http://ir.p5w.net）参与本次年度业绩说明会。 出席本次说明会的人员有：公司董事长杜南平先生，总经理张茜女士，董事 会秘书谢圣伟先生，财务负责人蒋文耀先生，独立董事吴长顺先生，保荐代表人 张辉波先生，具体以当天实际参会人员为准。 为充分尊重投资者、提升交流的针对性，现就公司 2022 年度业绩说明会提 前向投资者公开征集问题，广泛听取投资者的意见和建议。投资者可于 2023 年 5 月 10 日（星期三）15:00 前访问 h ...

Financial Performance - The company's revenue for Q1 2023 was ¥499.53 million, a decrease of 0.75% compared to ¥503.32 million in the same period last year[5]. - Net profit attributable to shareholders was ¥16.55 million, down 19.29% from ¥20.51 million year-on-year[5]. - Total operating revenue for Q1 2023 was ¥499,528,350.38, a decrease of 0.16% from ¥503,316,197.78 in Q1 2022[23]. - Operating profit for Q1 2023 was ¥17,018,588.59, compared to ¥20,621,838.00 in Q1 2022, reflecting a decline of 17.5%[24]. - Net profit for Q1 2023 was ¥16,546,506.69, down 15.0% from ¥19,465,868.88 in Q1 2022[24]. - Earnings per share for Q1 2023 was ¥0.0361, a decrease from ¥0.0447 in the same period last year[25]. Cash Flow - The net cash flow from operating activities improved by 52.17%, reaching -¥136.41 million compared to -¥285.22 million in Q1 2022[5]. - The net cash flow from investing activities was -¥70.02 million, a significant decline of 212.78% from -¥22.39 million in Q1 2022, attributed to increased investments in construction projects[11]. - Operating cash inflow for the current period was $412,791,607.99, down from $472,644,494.56 in the previous period, representing a decrease of approximately 12.5%[28]. - Operating cash outflow totaled $549,206,136.02, compared to $757,865,113.06 in the prior period, indicating a reduction of about 27.5%[28]. - Cash inflow from financing activities was $302,672,730.83, down from $344,788,654.22, a decrease of approximately 12.2%[29]. - Net cash flow from financing activities was -$14,434,674.77, a significant decline compared to a positive $119,436,359.69 in the prior period[29]. Assets and Liabilities - The total assets at the end of Q1 2023 were ¥3.41 billion, a slight decrease of 0.50% from ¥3.43 billion at the end of the previous year[5]. - Non-current assets totaled ¥515,755,340.90, an increase from ¥502,281,048.95 year-over-year[21]. - Total liabilities decreased to ¥1,813,413,785.15 from ¥1,847,271,523.43 in the previous year[21]. - The company reported a decrease in accounts payable to ¥99,866,312.22 from ¥183,430,879.74 year-over-year[21]. - The company's cash and cash equivalents decreased to ¥570,024,513.01 from ¥783,669,024.06 at the beginning of the year, a decline of approximately 27.2%[19]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 21.721 million[13]. - The largest shareholder, Zhongchen Holdings Co., Ltd., holds 48.80% of shares, totaling 223,750,000 shares[13]. - The total number of shares held by the top ten unrestricted shareholders includes 22,588,000 shares held by Tianjin New Vision[13]. - Tianjin New Vision reduced its shareholding from 5.9073% to 4.9999% due to the dilution from convertible bonds and share sales, totaling 4,160,000 shares[17]. Operational Changes - The company appointed Zhang Qian as the new general manager on January 13, 2023, following the resignation of the previous general manager[16]. - The company plans to adjust the expected completion date of certain IPO fundraising projects to January 21, 2024[15]. Expenses - Financial expenses for Q1 2023 were ¥14.74 million, an increase of 52.07% compared to ¥9.69 million in Q1 2022, primarily due to increased interest expenses from convertible bonds[10]. - Research and development expenses increased to ¥16,342,947.15 from ¥14,230,606.26, indicating a focus on innovation[24]. - The company recorded a 260.37% increase in credit impairment losses, amounting to -¥6.75 million, compared to -¥1.87 million in the previous year[10]. Inventory and Receivables - Accounts receivable increased to ¥1,255,580,813.44 from ¥1,138,582,217.32, representing a growth of about 10.3%[19]. - Inventory rose to ¥696,635,750.88 from ¥670,999,583.19, an increase of approximately 3.8%[19].

Financial Performance - The total operating revenue for 2022 was ¥2,579,220,559.38, representing a 1.91% increase compared to ¥2,530,793,749.40 in 2021[23] - The net profit attributable to shareholders decreased by 6.62% to ¥76,287,168.34 from ¥81,696,944.48 in the previous year[23] - The net cash flow from operating activities was negative at ¥-339,423,530.80, a significant decline of 864.73% compared to ¥44,384,673.36 in 2021[23] - The total assets increased by 19.51% to ¥3,428,586,596.22 at the end of 2022, up from ¥2,868,845,043.94 at the end of 2021[23] - The net assets attributable to shareholders rose by 14.82% to ¥1,554,168,694.75 from ¥1,353,556,512.15 in the previous year[23] - The basic earnings per share decreased by 5.56% to ¥0.17 from ¥0.18 in 2021[23] - The weighted average return on equity was 5.25%, down from 6.29% in the previous year[23] - The company reported a significant decline in net profit excluding non-recurring gains and losses, which was ¥64,116,450.90, down 19.89% from ¥80,034,638.73 in 2021[23] - The net profit attributable to shareholders after deducting non-recurring gains and losses for 2022 was CNY 13,450,345.36, a decrease from CNY 25,327,272.58 in 2021, representing a decline of approximately 47.3%[26] - The net cash flow from operating activities for 2022 was negative CNY 285,220,618.50, compared to negative CNY 222,631,485.20 in 2021, indicating a worsening cash flow situation[26] Market Position and Strategy - The company has established a controlling subsidiary in Dezhou, Shandong, to enhance its competitiveness in the North China and Northeast markets[34] - The company has been recognized as one of the "Top 100 Competitive Enterprises in China's Cable Industry" for several consecutive years, reflecting its strong market position[35] - The company has a comprehensive product series approved by the State Grid Corporation, making it one of the few companies in the industry with such a wide range of qualifications[35] - Sales in the non-power system sector have been increasing, with the company becoming a significant supplier in industries such as thermal power generation and urban rail transit[35] - The company focuses on R&D, production, and sales of power cables up to 110kV and bare conductors up to 750kV, catering to major clients like the State Grid Corporation and Southern Power Grid[36] - The cable industry is experiencing a long-term boom due to major projects in high-voltage transmission and urban infrastructure, which is expected to benefit the company[33] - The company has been actively participating in bidding for major projects across 31 provinces, enhancing its market presence and competitiveness[35] - The company primarily serves power companies, with products widely used in the construction and upgrading of power transmission networks across 31 provinces in China[37] Research and Development - The company has established a robust R&D platform, with 164 patents filed during the reporting period, including 21 invention patents[44] - The company has completed the development of new products, including environmentally friendly control cables and high-strength flexible cables, and has authorized 22 patents in 2022[51] - The company is developing high flame-retardant environmental cables for rail transit, aiming to capture market demand and expand its business scope[67] - The company has successfully produced a new type of intelligent cable accessory for monitoring the operational status of 35kV and below cables, enhancing safety and reliability in power grid operations[69] - The company is actively researching and developing high-flame-retardant environmentally friendly cable materials to comply with UL standards, enhancing product quality and environmental requirements[69] Financial Management and Investments - The company issued CNY 57,053.70 million in convertible bonds in May 2022 to enhance capital market financing[50] - The company has established a nationwide marketing network covering 31 provinces, ensuring comprehensive customer service[46] - The company reported a significant increase in investment income of ¥6,082,764.89, accounting for 7.17% of total profit, primarily from options and structured deposits[76] - The company has ongoing non-equity investments in various projects, including high-end cable production and special cable development, with specific amounts not disclosed[86] - The company has committed to several projects, including an environmental-friendly rail transit cable project with a total investment of RMB 14,330 million, of which 40.20% has been completed[98] Corporate Governance - The company has established a governance structure with a board of directors, supervisory board, and various committees to ensure effective internal control and compliance[156] - The board of directors consists of 7 members, including 3 independent directors, meeting the legal requirements[115] - The company maintains complete independence in assets, personnel, finance, organization, and business from its controlling shareholders[118] - The company ensures timely and accurate information disclosure to all shareholders, maintaining transparency[116] - The company has established specialized committees under the board, including a strategy committee and an audit committee, to provide professional opinions[115] Environmental and Social Responsibility - The company has established an environmental management system compliant with ISO 14001:2015 standards[167] - Zhongchen Cable actively implements energy-saving transformation projects, including solar heating installations[168] - The company has adopted a lifecycle ecological design concept for its products to reduce harmful substances[168] - The company has committed to enhancing energy management and promoting green manufacturing practices[168] - The company has actively engaged in community support activities, including blood donation drives and donations to local charities[171] Future Outlook - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share by 2025[136] - The company has set a performance guidance for 2023, aiming for a revenue growth of 20%[136] - The company plans to implement share repurchase measures if the stock price falls below the net asset value per share within three years post-IPO[187] - The company aims to enhance its technical and production capabilities through various R&D projects, thereby increasing its market competitiveness[67] - The company plans to prioritize cash dividends when conditions are met, with a minimum of 10% of distributable profits allocated annually in cash[180]

Revenue and Profit - The company's revenue for Q3 2022 was ¥709,566,649.24, a decrease of 1.02% compared to the same period last year, while the year-to-date revenue reached ¥1,961,217,106.54, an increase of 3.60%[6] - The net profit attributable to shareholders for Q3 2022 was ¥24,443,239.18, representing a significant increase of 23.10% year-on-year, and the year-to-date net profit was ¥74,152,289.75, up by 19.39%[6] - Total operating revenue for Q3 2022 reached CNY 1,961,217,106.54, an increase of 3.6% compared to CNY 1,893,050,860.91 in the same period last year[24] - Net profit for Q3 2022 was CNY 74,615,054.63, representing a 26.1% increase from CNY 59,155,023.66 in Q3 2021[25] - Total revenue attributable to the parent company for Q3 2022 was ¥74,152,289.75, an increase from ¥62,108,061.11 in Q3 2021, representing a growth of approximately 19.5%[26] Earnings Per Share - The basic earnings per share for Q3 2022 was ¥0.05, reflecting a 25.00% increase compared to the same period last year, while the diluted earnings per share also stood at ¥0.05[6] - Basic and diluted earnings per share for Q3 2022 were both ¥0.16, up from ¥0.14 in the same period last year, indicating a 14.3% increase[26] Assets and Liabilities - The total assets as of September 30, 2022, amounted to ¥3,490,207,140.93, marking a 21.66% increase from the end of the previous year[6] - The company's total assets increased to CNY 3,490,207,140.93, compared to CNY 2,868,845,043.94 in the previous year, marking a growth of 21.7%[22] - Current liabilities totaled CNY 1,466,033,329.18, slightly up from CNY 1,460,606,668.62, indicating a marginal increase of 0.3%[21] - The total liabilities reached CNY 1,909,817,903.67, an increase of 28.4% from CNY 1,487,889,551.63 in the previous year[21] - The company's equity attributable to shareholders was CNY 1,552,527,492.22, up from CNY 1,353,556,512.15, reflecting a growth of 14.7%[22] Cash Flow - The company reported a net cash flow from operating activities of -¥472,745,395.76 for the year-to-date, a decrease of 43.97% compared to the same period last year[11] - Cash flow from operating activities for the period was negative at -¥472,745,395.76, compared to -¥328,370,584.56 in the previous year, reflecting a decline in cash flow[27] - Cash inflow from financing activities totaled ¥1,547,092,394.34, significantly higher than ¥1,013,912,669.54 in Q3 2021, marking an increase of approximately 52.5%[27] - Net cash flow from financing activities was positive at ¥711,031,917.67, compared to ¥336,959,694.36 in the same quarter last year, showing a substantial improvement[27] - The net increase in cash and cash equivalents for the period was ¥68,681,849.10, contrasting with a decrease of -¥64,008,269.81 in Q3 2021[27] - Total cash and cash equivalents at the end of the period reached ¥585,106,147.17, up from ¥223,362,739.67 at the end of Q3 2021[27] Shareholder Information - The total number of common shareholders at the end of the reporting period is 24,880[13] - The largest shareholder, Zhongchen Holdings Co., Ltd., holds 48.80% of the shares, totaling 223,750,000 shares[13] - The company has a total of 10 major shareholders, with the top 10 holding significant stakes in the company[14] Investments and Subsidiaries - The company established a wholly-owned subsidiary, Zhongchen Cable (Jiangxi) Co., Ltd., with an investment of RMB 300 million, completed registration on July 11, 2022[17] - The investment income for Q3 2022 surged to ¥10,054,352.54, a staggering increase of 8,278.63% compared to the previous year[11] - The company reported an investment income of CNY 10,054,352.54, significantly higher than CNY 120,000.00 in the previous year[24] Operational Costs and Expenses - Total operating costs amounted to CNY 1,878,336,626.16, up from CNY 1,821,810,704.25, reflecting a year-over-year increase of 3.1%[24] - Research and development expenses for the quarter were CNY 61,195,337.85, slightly higher than CNY 60,040,851.02 in the same quarter last year[24] - The company’s financial expenses rose by 55.11% to ¥43,580,315.87, mainly due to increased interest expenses from short-term borrowings[11] Accounts Receivable and Inventory - The accounts receivable increased by 34.47% to ¥1,279,521,221.66, attributed to delays in logistics and payment procedures due to the pandemic[10] - Accounts receivable increased to RMB 1,279,521,221.66 from RMB 951,558,686.88 at the beginning of the year, indicating a growth of approximately 34.4%[19] - Inventory as of September 30, 2022, was RMB 696,856,788.82, up from RMB 562,279,028.82 at the beginning of the year, reflecting a growth of about 24%[19] IPO and Fundraising - The company has changed the implementation location and method for its IPO fundraising project related to the high-end equipment cable R&D center[15] - The company plans to reduce shares held by major shareholder Tianjin New Vision You Sheng Equity Investment Partnership by up to 50,010,000 shares, representing 10.91% of the total share capital[18] Audit Information - The company did not undergo an audit for the Q3 report[28]

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 1,251,650,457.30, representing a 6.42% increase compared to CNY 1,176,176,342.68 in the same period last year[25]. - The net profit attributable to shareholders of the listed company was CNY 49,709,050.57, up 17.65% from CNY 42,252,445.25 year-on-year[25]. - The net profit after deducting non-recurring gains and losses decreased by 7.66% to CNY 38,777,617.94 from CNY 41,995,579.01 in the previous year[25]. - The company's total assets increased by 17.54% to CNY 3,371,946,222.33 compared to CNY 2,868,845,043.94 at the end of the previous year[25]. - The net assets attributable to shareholders of the listed company rose by 12.89% to CNY 1,528,084,205.69 from CNY 1,353,556,512.15 at the end of the previous year[25]. - The basic earnings per share increased by 10.00% to CNY 0.11 from CNY 0.10 in the same period last year[25]. - The company reported a net cash flow from operating activities of CNY -507,852,103.70, a decline of 131.79% compared to CNY -219,095,697.57 in the previous year[25]. - The weighted average return on equity was 3.55%, slightly up from 3.34% in the previous year[25]. Research and Development - The company has established a strong research and development framework, with 153 patents filed, including 17 invention patents, enhancing its technological capabilities[42]. - The company aims to enhance its proprietary technology and brand recognition in high-end cable products through increased R&D investment and talent acquisition[40]. - The company's R&D investment was ¥37,775,919.86, a slight increase of 1.74% from ¥37,131,260.09 in the previous year[48]. - Research and development expenses were CNY 37,775,919.86, slightly up from CNY 37,131,260.09, indicating a focus on innovation[164]. Market Position and Strategy - The company specializes in the research, production, and sales of power cables and cable accessories, with major products including 110kV and below power cables and 750kV and below bare conductors, serving clients like the State Grid Corporation and Southern Power Grid[34]. - The company has been recognized as one of the top 100 competitive enterprises in the cable industry in China, reflecting its strong market position and competitive capabilities[38]. - The company has seen rapid growth in sales within non-power system sectors, becoming a significant supplier in industries such as thermal power generation and urban rail transit[39]. - The domestic cable market is projected to reach a demand scale of approximately 1.8 trillion yuan by 2026, driven by government policies and infrastructure investments[40]. - The company has initiated a new strategy focusing on technological innovation and market expansion to enhance competitiveness[180]. Financial Management - The company reported a significant increase in financial expenses, which rose by 37.92% to ¥23,682,985.69, attributed to increased short-term borrowings and interest expenses related to convertible bonds issued[48]. - The company has established a management system for futures hedging, ensuring compliance with internal control procedures and risk management[75]. - The company aims to effectively mitigate the impact of raw material price fluctuations through its hedging strategy, although it acknowledges associated risks[74]. - The company has not engaged in any entrusted financial management or entrusted loans during the reporting period[72][76]. Investment and Capital Structure - The total investment during the reporting period was ¥48,204,169.70, a significant increase of 67.89% compared to ¥28,711,967.91 in the same period last year[56]. - The company raised a total of RMB 309,029,000 from its initial public offering, with a net amount of RMB 257,477,283 after deducting issuance costs[65]. - The company issued 5,705,370 convertible bonds at a face value of RMB 100 each, raising RMB 57,053.70 million, with a net amount of RMB 561,760,105.80 after expenses[66]. - The company has committed RMB 20,000,000 for working capital, with 100% of the funds utilized[69]. Corporate Governance - The company confirmed that it has fulfilled all commitments related to the actual controller, shareholders, and related parties during the reporting period[100]. - The company has committed to not transferring or entrusting the management of its shares within 12 months from the date of listing[101]. - The company will ensure that any stock sales by its directors or senior management will not be below the issuance price during the lock-up period[101]. - There were no changes in the board of directors or senior management during the reporting period[87]. Environmental and Social Responsibility - The company has established an environmental management system compliant with ISO 14001:2015 and has passed the certification[93]. - The company has implemented energy-saving transformation projects, including installing solar heating systems and utilizing waste heat recovery from boilers[94]. - The company actively participates in social responsibility initiatives, including donating 100,000 RMB to educational charities and supporting pandemic response efforts[97]. - The company has committed to using green energy in new projects and increasing investment in environmental protection measures[97]. Operational Efficiency - The company employs a "sales-driven production" model, organizing production based on customer orders, which allows for customized manufacturing according to specific client requirements[36]. - The company has implemented smart manufacturing technologies, leading to recognition as a "Smart Workshop" in Wuxi and Jiangsu Province, enhancing its production efficiency[46]. - The company has established a comprehensive quality control system and received multiple certifications, including GB/T19001-2016/ISO9001:2015, enhancing its quality management capabilities[43]. Risks and Challenges - The company faces risks related to accounts receivable collection, which could impact cash flow and liquidity if not managed properly[81]. - The company operates in a capital-intensive industry, with cash flow fluctuations posing risks to daily operations and investment needs[82]. - Raw material costs, particularly copper and aluminum, account for approximately 80% of product costs, making the company vulnerable to price volatility[82].

Financial Performance - The company's revenue for Q1 2022 was CNY 503,316,197.78, representing an increase of 8.41% compared to CNY 464,272,203.41 in the same period last year[2]. - Net profit attributable to shareholders was CNY 20,509,169.04, up 27.16% from CNY 16,129,170.98 year-on-year[2]. - Total operating revenue for Q1 2022 was CNY 503.32 million, an increase of 8.5% compared to CNY 464.27 million in Q1 2021[22]. - Net profit for Q1 2022 reached CNY 19.47 million, representing a 33.5% increase from CNY 14.59 million in Q1 2021[23]. - Earnings per share for Q1 2022 were CNY 0.0447, compared to CNY 0.0377 in Q1 2021, reflecting a growth of 18.9%[24]. - The company reported a gross profit of CNY 70.43 million for Q1 2022, up from CNY 66.07 million in Q1 2021, marking a growth of 6.0%[22]. Assets and Liabilities - The company's total assets increased by 1.17% to CNY 2,902,381,324.95 compared to CNY 2,868,845,043.94 at the end of the previous year[2]. - The company's total liabilities were CNY 1.50 billion in Q1 2022, compared to CNY 1.49 billion in Q1 2021, reflecting a growth of 0.5%[20]. - Current liabilities totaled CNY 1.48 billion in Q1 2022, compared to CNY 1.46 billion in Q1 2021, indicating a marginal increase[20]. - The company's equity attributable to shareholders reached CNY 1.37 billion in Q1 2022, an increase from CNY 1.35 billion in Q1 2021, indicating a growth of 0.4%[20]. Cash Flow - Cash flow from operating activities showed a net outflow of CNY -285,220,618.50, worsening by 14.62% compared to CNY -248,834,315.26 in the same period last year[2]. - The net cash flow from operating activities was -285,220,618.50 CNY, compared to -248,834,315.26 CNY in the previous period, indicating a decline of approximately 14.6%[27]. - Total cash inflow from operating activities was 472,644,494.56 CNY, up from 412,097,923.44 CNY, representing an increase of about 14.7%[25]. - Cash outflow from operating activities totaled 757,865,113.06 CNY, compared to 660,932,238.70 CNY in the previous period, reflecting an increase of approximately 14.7%[27]. - Cash inflow from financing activities was 344,788,654.22 CNY, down from 432,213,655.53 CNY, a decrease of about 20.2%[27]. - The net cash flow from financing activities was 119,436,359.69 CNY, compared to 274,445,790.07 CNY in the previous period, indicating a significant decline of approximately 56.5%[27]. - The cash and cash equivalents at the end of the period were 328,253,839.18 CNY, compared to 299,579,625.28 CNY, showing an increase of about 9.6%[27]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 29,629[11]. - The largest shareholder, Zhongchen Holdings Co., Ltd., holds 48.80% of the shares, totaling 223,750,000 shares[11]. - The top ten shareholders hold a significant portion of the shares, with the top three alone accounting for 56.71% of the total[11]. - The company has no preferred shareholders as of the reporting period[13]. - The total number of shares held by the top ten unrestricted shareholders is 27,085,000, 15,000,000, and 9,170,000 respectively[12]. - The company has a total of 366,800,000 shares subject to lock-up agreements, with 143,050,000 shares released during the period[15]. Investment Activities - The company’s investment activities generated a net cash outflow of CNY -22,386,200.08, an increase of 67.03% compared to CNY -13,402,859.01 in the previous year[9]. - The total cash outflow for investing activities was 57,046,232.78 CNY, compared to 13,402,859.01 CNY in the previous period, indicating a substantial increase of about 324.5%[27]. - The cash flow from investing activities was -22,386,200.08 CNY, worsening from -13,402,859.01 CNY, reflecting a decline of approximately 66.7%[27]. Other Income and Expenses - The company reported a significant increase in other income, which rose by 217.90% to CNY 1,409,426.04 due to government subsidies received[9]. - Research and development expenses for Q1 2022 were CNY 14.23 million, slightly higher than CNY 13.47 million in Q1 2021, showing an increase of 5.6%[22]. - The company paid 24,518,440.65 CNY in employee compensation, an increase from 21,314,942.45 CNY, representing a rise of about 10.3%[25]. Trade Receivables and Inventory - The company’s trade receivables decreased by 35.75% to CNY 24,550,611.33, mainly due to a reduction in commercial acceptance bills held at the end of the reporting period[8]. - Accounts receivable increased to ¥1,022,103,682.12 from ¥951,558,686.88, reflecting an increase of about 7.4%[18]. - Inventory at the end of the period is ¥654,341,340.01, up from ¥562,279,028.82, indicating an increase of approximately 16.4%[18].

Financial Performance - The company's operating revenue for 2021 was ¥2,530,793,749.40, representing a 23.20% increase compared to ¥2,054,244,735.69 in 2020[20]. - The net profit attributable to shareholders of the listed company decreased by 10.80% to ¥81,696,944.48 in 2021 from ¥91,588,993.05 in 2020[20]. - The net cash flow from operating activities improved significantly to ¥44,384,673.36, a 148.52% increase from a negative cash flow of ¥91,480,378.46 in 2020[20]. - The total assets of the company at the end of 2021 reached ¥2,868,845,043.94, an increase of 28.64% from ¥2,230,132,199.90 at the end of 2020[20]. - The net assets attributable to shareholders of the listed company increased by 31.65% to ¥1,353,556,512.15 at the end of 2021 from ¥1,028,137,284.64 at the end of 2020[20]. - The basic earnings per share for 2021 was ¥0.18, down 28.00% from ¥0.25 in 2020[20]. - The weighted average return on net assets decreased to 6.29% in 2021 from 9.32% in 2020, a decline of 3.03%[20]. - The company's total revenue for the year was approximately 2.11 billion yuan, with quarterly revenues of 464.27 million, 711.90 million, 716.87 million, and 637.74 million yuan respectively[22]. - The net profit attributable to shareholders for the year was approximately 81.70 million yuan, with quarterly net profits of 16.13 million, 26.12 million, 19.86 million, and 19.59 million yuan respectively[22]. - The net cash flow from operating activities showed significant fluctuations, with a negative cash flow of 248.83 million yuan in Q1, a positive flow of 29.74 million yuan in Q2, a negative flow of 109.27 million yuan in Q3, and a positive flow of 372.76 million yuan in Q4[22]. Market and Industry Outlook - The electric wire and cable industry in China is expected to continue growing, with projected sales revenue reaching 1.12 trillion yuan in 2021, reflecting a sustained upward trend[32]. - The overall demand for the wire and cable industry in China is projected to approach 1.8 trillion RMB by 2026, indicating a positive market outlook[39]. - The company is focusing on the development of special cables, which are expected to become a new growth point due to their higher technical content and added value[32]. - The industry is experiencing increased consolidation and a trend towards larger-scale operations, which is expected to gradually raise the industry's concentration level[32]. - In 2022, the State Grid plans to invest 501.2 billion RMB in the power grid, marking an 8.84% increase year-on-year, which is expected to drive demand for wire and cable products[38]. Research and Development - The company authorized 21 patents during the reporting period, including 1 invention patent, and participated in the drafting of 4 national standards and 13 group standards[46]. - The company aims to enhance its R&D capabilities and customer service by investing in high-end technology and talent, which is expected to support sustained growth in performance[40]. - The company is actively developing environmentally friendly cables and has launched production for several new types, including fire-resistant and flexible mineral insulated cables[66]. - The company has completed the development of high-performance plastic insulated flame-retardant control cables, enhancing product fire safety and market competitiveness[68]. - The company invested approximately CNY 82.57 million in R&D in 2021, accounting for 3.26% of operating revenue, a slight decrease from 3.35% in 2020[69]. Corporate Governance - The governance structure complies with relevant laws and regulations, ensuring independent operation from controlling shareholders[104]. - The board of directors consists of 8 members, including 3 independent directors, meeting regulatory requirements for governance[105]. - The company has established a transparent performance evaluation and incentive mechanism for senior management[106]. - The company maintains independence in assets, personnel, finance, and operations from its controlling shareholders[108]. - The company has established an independent financial department with a complete financial accounting system, allowing for independent financial decision-making[109]. Environmental Responsibility - The company has established an ISO 14001:2015 compliant environmental management system to ensure stable pollutant discharge and total control requirements[153]. - The company has implemented various energy-saving projects, including installing solar heating systems and upgrading production lines to reduce carbon emissions[154]. - The company emphasizes the protection of shareholder rights and has improved its corporate governance structure to safeguard investor interests[155]. - The company has conducted regular environmental monitoring through qualified third-party agencies to ensure compliance with pollution standards[153]. - The company has taken corrective actions in response to environmental inspections, ensuring that pollution prevention facilities operate as required[152]. Shareholder Engagement and Profit Distribution - The company plans to distribute dividends annually, with the board proposing mid-term cash dividends as needed[170]. - The company prioritizes cash dividends as a profit distribution method, aiming to distribute no less than 10% of the current distributable profit annually in cash when conditions are met[168]. - The company will review the shareholder dividend return plan at least every three years, ensuring it aligns with industry regulations and the company's operational status[167]. - The company will ensure that any adjustments to the profit distribution policy are approved by a majority of the board and two-thirds of the attending shareholders[167]. - The company is committed to ensuring that profit distribution plans align with the overall interests and long-term benefits of all shareholders[169]. Financial Management and Risks - The company faces risks related to accounts receivable collection, which may impact cash flow and liquidity if not managed properly[100]. - Raw material prices, particularly copper and aluminum, account for approximately 80% of the product cost, posing a risk to profitability due to price volatility[100]. - The company has implemented a pricing mechanism linked to raw material costs, but there are delays in price adjustments that could affect cost management[100]. - The company has a strong management team with over 20 years of experience in the cable industry, ensuring effective decision-making and implementation of strategies[44]. - The company has established a comprehensive quality assurance system and has passed multiple certifications, including ISO9001:2015 and various product certifications[43].

Financial Performance - The company's revenue for Q3 2021 reached ¥716,874,518.23, representing a 33.05% increase compared to the same period last year[2] - The net profit attributable to shareholders decreased by 21.55% to ¥19,855,615.86 in Q3 2021, while the year-to-date net profit was ¥62,108,061.11, down 3.61%[2] - The basic earnings per share for Q3 2021 was ¥0.04, a decrease of 42.86% compared to the same period last year[2] - Total operating revenue for the third quarter reached CNY 1,893,050,860.91, an increase of 32% compared to CNY 1,434,068,092.48 in the same period last year[20] - Net profit for the period was CNY 59,155,023.66, a decrease of 7.2% from CNY 63,610,182.10 in the previous year[21] - Earnings per share (EPS) for the quarter was CNY 0.140, down from CNY 0.180 in the same quarter last year[22] Assets and Liabilities - Total assets increased by 17.77% to ¥2,626,527,445.42 compared to the end of the previous year[2] - Total current assets as of September 30, 2021, amounted to CNY 2,221,102,753.60, an increase from CNY 1,866,241,493.72 at the end of 2020, reflecting a growth of approximately 19%[16] - Total liabilities reached CNY 1,265,177,014.62, compared to CNY 1,171,659,075.79, reflecting an increase of 8%[18] - The company's equity attributable to shareholders rose to CNY 1,333,967,628.78 from CNY 1,028,137,284.64, a growth of 29.7%[18] Cash Flow - Cash flow from financing activities increased by 230.15% to ¥336,959,694.36, primarily due to funds raised from new share issuance[8] - Cash generated from operating activities was CNY 1,783,389,210.45, compared to CNY 1,238,036,365.83 in the previous year, indicating a significant increase[24] - The net cash flow from operating activities was -328,370,584.56 CNY, compared to -271,958,743.50 CNY in the previous year, indicating a decline in operational cash flow[25] - Total cash inflow from financing activities reached 1,013,912,669.54 CNY, up from 663,371,019.91 CNY year-over-year, reflecting increased financing efforts[26] Inventory and Receivables - The company reported a significant increase in inventory, which rose by 43.30% to ¥498,009,983.51, attributed to increased sales scale and rising raw material prices[7] - Accounts receivable increased significantly to CNY 1,210,676,300.80 from CNY 935,158,021.41, marking an increase of approximately 29%[16] - Inventory rose to CNY 498,009,983.51 from CNY 347,532,470.18, indicating an increase of around 43%[16] Research and Development - Research and development expenses for the first nine months of 2021 were ¥60,040,851.02, a 34.13% increase year-on-year, indicating a focus on innovation[8] - Research and development expenses for the quarter were CNY 60,040,851.02, an increase from CNY 44,762,039.80, indicating a focus on innovation[21] Shareholder Information - Major shareholders include Zhongchen Holdings with a 48.80% stake and Tianjin New Vision with 10.91%[11] - The company has no significant changes in the status of major shareholders' shares, with all major shareholders holding their shares under lock-up agreements until specified dates in 2022[12] - The total number of restricted shares at the end of the period was 366,800,000, with 5,594,839 shares released from restrictions during the period[12] Capital and Reserves - The company raised funds through new share issuance, resulting in a 53.05% increase in capital reserves to ¥478,245,362.74[8] - The company's capital reserve is CNY 312,468,079.71[31] - The surplus reserve is CNY 36,953,108.52[31] Accounting and Standards - The company has implemented new leasing standards affecting the financial statements, indicating a shift in accounting practices[27] - The new leasing standards were implemented starting January 1, 2021[31] - The company has not made any adjustments to prior comparative data under the new leasing standards[32]

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥1,176,176,342.68, representing a 31.38% increase compared to ¥895,250,711.27 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was ¥42,252,445.25, up 7.99% from ¥39,126,995.78 in the previous year[20]. - The net profit after deducting non-recurring gains and losses increased by 39.74%, amounting to ¥41,995,579.01 compared to ¥30,051,835.94 in the previous year[20]. - The company's operating revenue for the reporting period reached ¥1,176,176,342.68, representing a year-on-year increase of 31.38% due to increased sales volume and rising raw material prices[41]. - Operating costs increased by 35.12% to ¥1,005,425,742.71, primarily driven by the growth in revenue and the reclassification of transportation costs as part of operating costs[41]. - The total profit for the first half of 2021 was CNY 50,301,021.72, compared to CNY 46,068,161.37 in the same period last year, reflecting an increase of 5.0%[156]. - The total operating costs for the first half of 2021 were CNY 956,960,366.30, up from CNY 677,810,320.82 in the same period of 2020, reflecting an increase of 41.2%[155]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,606,632,407.13, a 16.88% increase from ¥2,230,132,199.90 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company increased by 27.81%, reaching ¥1,314,112,012.92 compared to ¥1,028,137,284.64 at the end of the previous year[20]. - Cash and cash equivalents at the end of the reporting period amounted to ¥441.61 million, representing 16.94% of total assets, a decrease of 1.14% compared to the previous year[48]. - Accounts receivable increased to ¥1,156.52 million, accounting for 44.37% of total assets, an increase of 2.44% year-over-year[48]. - Inventory reached ¥455.05 million, which is 17.46% of total assets, reflecting a 1.88% increase from the previous year[48]. - Total liabilities increased to CNY 1,264,741,500.25, up from CNY 1,171,659,075.79, indicating a growth in financial obligations[145]. Cash Flow - The company reported a negative net cash flow from operating activities of ¥219,095,697.57, an improvement of 3.70% from the previous year's negative cash flow of ¥227,512,844.83[20]. - Cash flow from financing activities surged by 1,543.14% to ¥291,907,464.19, primarily due to new share issuance[41]. - The net cash flow from operating activities for the first half of 2021 was -248,695,850.73 CNY, compared to -173,824,292.61 CNY in the same period of 2020, indicating a decline in operational cash flow[163]. - The company reported a total cash inflow from financing activities of 640,522,855.15 CNY, up from 337,874,664.46 CNY in the previous year, reflecting increased borrowing and investment[163]. Research and Development - Research and development investment rose by 33.68% to ¥37,131,260.09, reflecting the company's commitment to enhancing its R&D capabilities[41]. - The company holds a total of 136 patents, including 14 invention patents and 122 utility model patents, showcasing its strong technological advantages in the industry[36]. - The company is committed to continuous R&D investment to enhance its technological capabilities and develop proprietary high-end cable products, ensuring future growth in performance[32]. - The company is focusing on research and development of new products to meet market demands and improve competitiveness[172]. Market Position and Strategy - The company specializes in the research, production, and sales of power cables and cable accessories, with major products including power cables up to 110kV and bare conductors up to 750kV, serving clients like State Grid Corporation and Southern Power Grid[27]. - The company adopts a "sales-driven production" model, organizing production based on customer orders, which allows for customized manufacturing according to specific client requirements[29]. - The macroeconomic environment remains favorable, with sustained demand for the cable industry driven by infrastructure investments and urbanization efforts in China[31]. - The company has established long-term cooperative relationships with raw material suppliers, ensuring stable and timely supply for efficient production[28]. Compliance and Governance - The company has established an environmental management system compliant with ISO 14001:2015 standards and has passed the certification[88]. - The company emphasizes the importance of environmental protection and has strengthened internal control systems to enhance compliance awareness among employees[90]. - The company has not engaged in any illegal external guarantees during the reporting period[97]. - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties during the reporting period[96]. Shareholder Information - The total number of shares increased from 366,800,000 to 458,500,000 after the IPO, with 91,700,000 shares issued[121]. - The company’s shareholding structure includes 81.22% held by domestic entities and 18.78% held by unrestricted shares[120]. - The largest shareholder, Zhongchen Holdings Co., Ltd., holds 48.80% of the shares, totaling 223,750,000 shares[128]. - The company has 366,800,000 shares subject to lock-up agreements, with no shares released during the reporting period[123]. Legal and Regulatory Matters - The company reported a court ruling requiring it to pay performance compensation of 1,041,693.78 CNY and basic salary of 96,830 CNY to the plaintiff within ten days of the ruling's legal effect[101]. - The company has no significant litigation or arbitration matters that meet disclosure standards, with all cases either resolved or in the first instance[101]. - There were no penalties or rectifications during the reporting period[102].

Financial Performance - The company's operating revenue for Q1 2021 was ¥464,272,203.41, representing a 43.22% increase compared to ¥324,174,956.65 in the same period last year[8]. - Net profit attributable to shareholders for Q1 2021 was ¥16,129,170.98, up 15.24% from ¥13,995,671.77 in the previous year[8]. - The net profit after deducting non-recurring gains and losses was ¥15,780,907.80, reflecting a 20.74% increase from ¥13,070,191.55 year-on-year[8]. - The company's operating revenue reached 464,272,203.41 yuan, a year-on-year increase of 43.22% due to the recovery from the impact of the COVID-19 pandemic[16]. - The net profit attributable to shareholders was 1,612.92 million yuan, reflecting a growth of 15.24% compared to the previous year[18]. - The total profit for Q1 2021 was CNY 16,967,028.56, an increase of 9.9% compared to CNY 15,440,038.38 in the previous year[45]. - The net profit for Q1 2021 reached CNY 14,593,886.28, representing a year-on-year increase of 8.2% from CNY 13,482,241.51[45]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥248,834,315.26, a decline of 21.08% compared to -¥205,519,276.01 in the same period last year[8]. - The company's cash flow from financing activities was 274,445,790.07 yuan, a substantial increase of 1027.57% due to new share issuance[20]. - The company's operating cash flow for Q1 2021 was -229,543,859.59 CNY, compared to -167,305,490.33 CNY in the same period last year, indicating a decline of approximately 37.2%[55]. - The company reported a net increase in cash and cash equivalents of 12,208,615.80 CNY in Q1 2021, contrasting with a decrease of -188,181,204.67 CNY in Q1 2020[53]. - Total cash and cash equivalents at the end of Q1 2021 amounted to 299,579,625.28 CNY, a significant increase from 75,546,595.36 CNY at the end of Q1 2020[53]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,422,346,505.58, an increase of 8.62% from ¥2,230,132,199.90 at the end of the previous year[8]. - Total liabilities as of March 31, 2021, were CNY 977,995,374.94, down from CNY 1,087,752,976.35 at the end of 2020, indicating a reduction of 10.1%[40]. - The company's total assets stood at 2,230,132,199.90 CNY as of Q1 2021, unchanged from the previous year[60]. - Total current liabilities were approximately ¥1.07 billion, with short-term borrowings accounting for approximately ¥558.35 million[62]. - Owner's equity totaled approximately ¥1.04 billion, reflecting a stable capital structure[62]. Shareholder Information - The total number of shareholders at the end of the reporting period was 35,747[12]. - The largest shareholder, Zhongchen Holdings Co., Ltd., held 48.80% of the shares, totaling 223,750,000 shares[12]. - Net assets attributable to shareholders increased by 26.61% to ¥1,301,743,738.65 from ¥1,028,137,284.64 at the end of the previous year[8]. Research and Development - Research and development expenses rose by 46.66% to 13,471,639.28 yuan, indicating increased investment in innovation[16]. - Research and development expenses for Q1 2021 were CNY 13,471,639.28, compared to CNY 9,185,751.73 in Q1 2020, reflecting a growth of 46.5%[43]. Operational Challenges - The gross profit margin was impacted by a 46.66% increase in operating costs, which totaled 394,439,270.41 yuan[16]. - The company faces risks related to raw material price fluctuations, which account for approximately 80% of product costs, and plans to strengthen supplier relationships to mitigate these risks[21]. - The company reported a decrease in accounts payable by 45.54% to 99,789,180.33 yuan, attributed to suppliers shortening payment terms[16]. Investment Activities - The total amount of raised funds for the quarter is CNY 25,747.73 million, with CNY 1,731.73 million invested during this period[24]. - The company has not achieved the planned progress or expected benefits for any investment projects during the reporting period[25]. - The company raised 257,477,283.03 CNY from investment activities in Q1 2021, compared to no such income in the previous year[56].