Financial Performance - The company's revenue for Q3 2021 reached ¥62,399,393.98, representing a 178.10% increase compared to the same period last year[4] - Net profit attributable to shareholders was ¥6,856,262.57, an increase of 25.88% year-on-year[4] - The net profit after deducting non-recurring gains and losses was ¥5,146,506.23, up 81.21% from the previous year[4] - Total revenue for Q3 2021 reached ¥167,413,995.28, an increase of 41.3% compared to ¥118,427,857.98 in Q3 2020[22] - Net profit for Q3 2021 was ¥24,707,141.26, a decrease of 9.5% from ¥27,253,760.84 in Q3 2020[24] - Basic and diluted earnings per share for Q3 2021 were both ¥0.2616, down from ¥0.3634 in Q3 2020[24] Assets and Liabilities - Total assets at the end of the reporting period were ¥752,814,128.17, a 41.67% increase from the end of the previous year[4] - Total assets as of September 30, 2021, amounted to ¥752,814,128.17, compared to ¥531,368,716.00 at the end of 2020, reflecting a growth of 41.6%[20] - Total liabilities increased to ¥197,047,679.90 in Q3 2021, up from ¥166,797,842.86 in the previous year, marking a rise of 18.1%[20] - Total liabilities decreased slightly to CNY 166,797,842.86 from CNY 170,213,711.82, indicating improved financial stability[31] Shareholder Information - Shareholders' equity attributable to the parent company increased by 52.44% to ¥555,766,448.27 compared to the previous year[4] - The total number of common shareholders at the end of the reporting period is 14,835[11] - The largest shareholder, Wei Zhenwen, holds 53.88% of the shares, totaling 53,880,000 shares[11] - The top ten shareholders include Qingdao Defeng Investment Enterprise (6.12%) and Qingdao Ivy Venture Capital Center (4.29%) among others[11] - The total number of restricted shares at the end of the reporting period is 75,000,000, accounting for 75% of the total share capital[15] Cash Flow - Cash flow from operating activities showed a significant decline of 83.29%, totaling ¥11,270,592.57 year-to-date[4] - Operating cash flow for the period was CNY 11,270,592.57, a decrease of 83.3% compared to CNY 67,430,680.25 in the previous period[26] - The company reported a net increase in cash and cash equivalents of CNY 88,464,858.46, reversing a decrease of CNY 12,022,835.07 from the previous period[27] - Cash and cash equivalents at the end of the period totaled CNY 221,722,166.73, significantly higher than CNY 67,696,055.14 at the end of the previous period[27] Research and Development - Research and development expenses for Q3 2021 were ¥9,130,520.32, an increase of 25.4% from ¥7,280,402.68 in Q3 2020[23] Certifications and Awards - The company was awarded the title of "Little Giant" enterprise, valid for three years from July 1, 2021, to June 30, 2024[15] - The company obtained EU PED certification in September 2021, enhancing its quality management system and creating new opportunities for export growth[15] Inventory and Capital - The company’s inventory increased by 43.39% to ¥132,372,274.82, indicating a rise in raw materials and work-in-progress[8] - The company’s capital reserve increased by 190.31% to ¥229,869,945.75 due to funds raised from its public listing[9] Patents and Technology - The company holds 22 invention patents, 64 utility model patents, and 3 software copyrights[15] - The company has 7 major technological equipment projects recognized as the first set in Shandong Province[15] Financial Adjustments - The company’s total assets increased to CNY 531,368,716.00, up from CNY 534,639,885.19, reflecting a minor adjustment due to new accounting standards[29] - The company’s equity remained stable at CNY 75,000,000.00, reflecting consistent shareholder value[31] - Total equity attributable to the parent company reached CNY 364,570,873.14[32] - Unallocated profits amounted to CNY 167,046,538.53[32] - Total liabilities and equity stood at CNY 531,368,716.00[32] Financial Reporting - The report for the third quarter was not audited[33]

Financial Performance - The company reported a significant increase in revenue for the first half of 2021, with total revenue reaching RMB 200 million, representing a 25% increase compared to the same period last year[16]. - The net profit for the first half of 2021 was RMB 30 million, which is a 15% increase year-over-year[16]. - The company's operating revenue for the reporting period was CNY 105,014,601.30, representing a 9.40% increase compared to CNY 95,990,258.00 in the same period last year[24]. - The net profit attributable to shareholders decreased by 18.14% to CNY 17,850,878.69 from CNY 21,806,896.23 year-on-year[24]. - The net profit after deducting non-recurring gains and losses fell by 46.88% to CNY 9,697,103.61 compared to CNY 18,254,846.71 in the previous year[24]. - The basic earnings per share decreased by 33.05% to CNY 0.1947 from CNY 0.2908 in the same period last year[24]. - The company's total assets at the end of the reporting period increased by 38.79% to CNY 737,510,088.28 from CNY 531,368,716.00 at the end of the previous year[24]. - The net assets attributable to shareholders increased by 50.50% to CNY 548,662,929.39 from CNY 364,570,873.14 at the end of the previous year[24]. - The company's total comprehensive income for the period was CNY 21,806,896.23, reflecting the company's performance[179]. Investment and R&D - The company plans to invest RMB 50 million in research and development for new energy-saving technologies in the upcoming year[16]. - The company has developed energy-saving heat exchange equipment, including air preheaters, waste heat boilers, and dryers, which are widely used in energy-intensive industries[31][33][36]. - Research and development investment rose by 10.23% to ¥5,600,317.79, up from ¥5,080,772.66, reflecting a commitment to innovation[65]. - The company holds 22 invention patents, 64 utility model patents, and 3 software copyrights, showcasing its strong R&D capabilities in energy-saving and environmental protection technologies[56]. Market Strategy and Expansion - The company has outlined a market expansion strategy targeting Southeast Asia, aiming for a 30% increase in market share by the end of 2022[16]. - User data indicates a growth in customer base, with a 20% increase in active users compared to the previous year[16]. - The company is focusing on the development of low-nitrogen burners, which are expected to reduce NOx emissions by 40%[14]. - The company is focused on providing customized equipment solutions for clients in various sectors, including chemical, energy, metallurgy, and waste treatment[31]. Financial Management and Cash Flow - The net cash flow from operating activities decreased significantly by 75.91% to CNY 13,046,355.07 from CNY 54,161,363.69 in the same period last year[24]. - The net cash flow from financing activities increased dramatically by 396.56% to ¥168,495,655.50, compared to a negative flow of ¥56,817,374.99 in the previous year, mainly due to funds raised from the initial public offering[65]. - The company's cash and cash equivalents increased by 782.49% to ¥83,061,146.83 from a decrease of ¥12,170,391.95 in the previous year, attributed to the influx of IPO funds[65]. - The company has established a cash management plan for idle raised funds, with a maximum usage limit of RMB 80 million[80]. Risks and Challenges - The company is facing risks related to supply chain disruptions but has implemented measures to mitigate these risks[6]. - The company faces risks related to accounts receivable growth and increased bad debts due to long settlement cycles and large receivable balances, which may worsen as the business scales up[88]. - Exchange rate fluctuations pose a risk to the company's export product pricing and profitability, particularly as it conducts business in multiple currencies[93]. - International trade friction, particularly between China and the U.S., may impact the company's export business and overall performance[95]. Corporate Governance and Social Responsibility - The company has established a sound corporate governance structure, ensuring fairness in decision-making and protecting the rights of all shareholders, especially minority shareholders[107]. - The company actively participates in social responsibility initiatives, including environmental protection and scholarship programs at universities[111]. - The company is committed to providing a safe working environment for employees and focuses on their health, safety, and satisfaction through training programs[109]. IPO and Shareholder Information - The company completed its initial public offering (IPO) of 25,000,000 shares at a price of RMB 8.41 per share, raising a total of RMB 210,250,000[142]. - After the IPO, the total number of shares increased from 75,000,000 to 100,000,000, with the newly issued shares accounting for 25% of the total[136]. - The largest shareholder, Wei Zhenwen, holds 53,880,000 shares, which are subject to a lock-up period until March 3, 2024[139]. - The total number of common shareholders at the end of the reporting period is 21,566[144].

Financial Performance - The company's operating revenue for Q1 2021 was ¥40,436,286.47, representing a 291.85% increase compared to ¥10,319,333.30 in the same period last year[8]. - Net profit attributable to shareholders was ¥8,621,090.91, a significant increase of 550.98% from a loss of ¥1,911,633.10 in the previous year[8]. - The net profit after deducting non-recurring gains and losses was ¥6,731,223.35, up 264.12% from a loss of ¥4,101,288.98 in the same period last year[8]. - The basic earnings per share increased to ¥0.1035, compared to a loss of ¥0.0255 in the same period last year, marking a 505.88% improvement[8]. - Operating profit for the quarter was ¥10,508,951.94, a substantial improvement from a loss of ¥2,312,094.19 in the previous year[48]. - Net profit for Q1 2021 was ¥8,621,090.91, compared to a net loss of ¥1,911,633.10 in Q1 2020, indicating a turnaround in profitability[48]. Assets and Liabilities - Total assets at the end of the reporting period were ¥710,987,979.11, a 33.80% increase from ¥531,368,716.00 at the end of the previous year[8]. - The total assets increased from 155,741,707.75 yuan at the end of 2020 to 264,300,244.10 yuan by March 31, 2021, marking a 69.70% increase[19]. - The total equity attributable to shareholders increased to ¥549,172,477.03 from ¥364,570,873.14 year-on-year, reflecting a growth of 50.7%[45]. - The total liabilities increased by 37.50% to 44,000,000.00 yuan, mainly due to the issuance of bank acceptance bills[19]. - The total current liabilities were reported at RMB 44,000,000.00 for notes payable, up from RMB 32,000,000.00 at the end of 2020, indicating a 37.5% increase[43]. Cash Flow - The net cash flow from operating activities was ¥1,243,324.03, a decrease of 28.65% compared to ¥1,742,484.70 in the same period last year[8]. - Cash inflow from operating activities was ¥59,368,608.73, down from ¥71,890,398.73 in Q1 2020, showing a decrease of 17.4%[50]. - The net cash flow from investment activities was -CNY 85,531,366.19, worsening from -CNY 27,114,300.56 year-over-year[51]. - The net cash flow from financing activities was CNY 187,021,577.50, compared to -CNY 109,958.33 in the previous year, indicating a significant improvement[52]. - The total cash and cash equivalents at the end of the period reached CNY 238,855,154.81, up from CNY 54,046,224.86 in the previous year[52]. Shareholder Information - The total number of shareholders at the end of the reporting period was 27,909[12]. - The company's stock capital increased by 33.33% to 100,000,000.00 yuan as a result of the IPO[19]. Research and Development - Research and development expenses increased by 34.86% to 1,865,839.93 yuan, reflecting ongoing investment in innovation[20]. - Research and development expenses for Q1 2021 were ¥1,865,839.93, up from ¥1,383,543.50 in the same period last year, indicating a focus on innovation[46]. Risks and Management - The company faces risks related to accounts receivable growth and potential bad debts due to long settlement cycles, which may increase management difficulty as the business scales[26]. - The company plans to strengthen customer credit management and ensure contract execution to mitigate risks associated with accounts receivable[27]. - The main business gross margin is at risk of decline due to potential technological advancements and increased competition, with a focus on cost reduction and innovation to maintain margins[28]. Fundraising and Projects - The company has invested ¥17,568.99 million in fundraising projects, with ¥874.37 million utilized in the current quarter[33]. - The "Energy-saving Equipment Production Line Technology Transformation Project" aims to enhance automation and production efficiency, supporting new product development[29]. - The company emphasizes the importance of fundraising projects for achieving strategic goals and sustaining operations despite market uncertainties[29]. - Measures are in place to accelerate project construction and optimize customer structure to prepare for increased production capacity from fundraising projects[30]. - The company has committed to invest a total of RMB 17,568.99 million in energy-saving equipment production line technology renovation and R&D center construction projects, with 29.70% of the funds utilized as of the report date[34]. Compliance and Governance - The company has no violations regarding external guarantees or non-operating fund occupation by controlling shareholders during the reporting period[36][37]. - The company did not undergo an audit for the first quarter report[53].

Financial Performance - The company's operating revenue for 2020 was ¥250,530,548.52, a decrease of 5.11% compared to ¥264,027,132.81 in 2019[18]. - The net profit attributable to shareholders for 2020 was ¥61,524,823.85, down 0.73% from ¥61,977,068.35 in 2019[18]. - The net cash flow from operating activities increased by 2.05% to ¥84,891,367.79 in 2020, compared to ¥83,183,105.96 in 2019[18]. - The total assets at the end of 2020 were ¥531,368,716.00, a decrease of 5.52% from ¥562,436,195.90 at the end of 2019[18]. - The company's basic earnings per share for 2020 was ¥0.82, a decline of 1.20% from ¥0.83 in 2019[18]. - The weighted average return on equity for 2020 was 17.45%, down from 18.29% in 2019[18]. - The company reported a total of ¥7,843,339.43 in non-recurring gains and losses for 2020, compared to ¥4,361,563.93 in 2019[24]. - In 2020, the company achieved operating revenue of CNY 251 million, with a total profit of CNY 71.68 million, representing a year-on-year growth of 0.28%[67]. - The net profit for 2020 was CNY 61.52 million, a decrease of 0.44% compared to the previous year[67]. - As of December 31, 2020, the company's total assets amounted to CNY 531.37 million, with total liabilities of CNY 166.80 million, resulting in a debt-to-asset ratio of 31.39%[67]. Research and Development - The company has a strong commitment to research and development in low-nitrogen burners, aimed at reducing nitrogen oxide emissions during combustion processes[11]. - The company invested ¥10,819,200 in R&D in 2020, which accounted for 4.32% of total revenue, and obtained 22 invention patents and 59 utility model patents[69]. - The company has established a strong R&D team with 62 personnel, making up 20.39% of the workforce[89]. - The company aims to focus on energy conservation and emission reduction technologies, aligning with the "14th Five-Year Plan" and 2035 vision[102]. - Future development goals include strengthening new product and technology R&D while expanding into new industries and international markets[103]. - The company is investing 50 million RMB in research and development for new technologies aimed at improving energy efficiency[127]. - Investment in research and development has increased by 30%, focusing on innovative technologies to improve product efficiency[135]. Market Position and Strategy - The company operates in the energy-saving equipment sector, focusing on heat exchange technology, which is critical for improving energy efficiency[10]. - The company has established a strong market position in the energy-saving and environmental protection equipment industry, with advantages in technology research and development, market presence, and qualifications[55]. - The company is positioned to benefit from the increasing demand for energy-efficient and environmentally friendly equipment in various industries, driven by stricter environmental regulations[49]. - The company plans to enhance its international business by leveraging its products and technologies globally while introducing advanced foreign products to the domestic market[104]. - The company is actively expanding its market presence, with products being exported to major international clients in North America and Europe[61]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share within the next three years[127]. - A strategic acquisition of a local competitor is in progress, which is anticipated to enhance the company's market position and increase overall revenue by 30%[127]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements and future plans, indicating potential uncertainties in achieving projected outcomes[5]. - The company has established a risk management and compliance management system to enhance internal control effectiveness[73]. - The company faces risks related to the sustainability of business with major overseas clients due to geopolitical tensions and the ongoing COVID-19 pandemic[109]. - There is a risk of increased accounts receivable and bad debts due to longer settlement cycles and growing receivables as the company expands[110]. - The company is at risk of declining gross margins if there are significant technological advancements in the energy conservation sector or if raw material prices fluctuate dramatically[111]. - Currency exchange rate fluctuations pose a risk to the company's profitability, especially given the significant proportion of overseas sales revenue[112]. Corporate Governance - The company has established a dedicated team for investor relations, ensuring effective communication with stakeholders[15]. - The company has appointed several independent directors with diverse backgrounds in law, finance, and engineering, enhancing its governance structure[198][199]. - The board includes members with extensive experience in investment and risk management, which is expected to strengthen the company's strategic decision-making[197]. - The company emphasizes strict compliance with laws and regulations regarding the transfer of shares by its directors and senior management[126]. - The company has established a long-term commitment to protect the interests of small and medium investors[138]. - The company has committed to timely and complete execution of measures related to compensating for any dilution of immediate returns[138]. Profit Distribution - The company reported a profit distribution plan of 1 RMB cash dividend per 10 shares, with no bonus shares issued, based on a total of 100,000,000 shares[5]. - The company plans to distribute cash dividends of 1.00 yuan per 10 shares, totaling 10,000,000 yuan, which represents 16.25% of the net profit for the year 2020[120]. - The company achieved a net profit of 61,524,823.85 yuan for the year 2020, with a distributable profit of 167,046,538.53 yuan[121]. - The company has implemented a profit distribution policy that prioritizes cash dividends when conditions allow, ensuring at least 10% of the distributable profit is allocated for cash dividends[118]. - The cash dividend payout ratio for 2019 was 72.61%, with a total cash dividend of 45,000,000 yuan[123]. Operational Efficiency - The company employs a "sales-driven production" model to minimize inventory risks and enhance capacity utilization, which is crucial for its custom equipment manufacturing[44][48]. - The company's production process requires close collaboration among design, manufacturing, and quality departments to ensure timely delivery and quality compliance[48]. - The company has successfully maintained a smooth production process and efficient supply chain management, enhancing its service and efficiency advantages in the market[62]. - The company has made significant investments in fixed assets, with major changes due to the completion of the Shanghai Cooperation Organization comprehensive center and equipment[56]. Shareholder Information - The total number of shares remained at 75,000,000, with no changes in shareholding structure[176]. - The largest shareholder, Wei Zhenwen, holds 71.84% of the shares, totaling 53,880,000 shares[179]. - The company has no preferred shares or convertible bonds outstanding during the reporting period[184][187]. - The current management team includes experienced professionals with backgrounds in engineering and economics, contributing to the company's operational and strategic decisions[191][192][193][194][195][196].