Financial Performance - The company reported a significant increase in revenue for the first half of 2021, with total revenue reaching RMB 500 million, representing a 25% increase compared to the same period in 2020[17]. - The company has set a revenue target of RMB 1 billion for the full year 2021, reflecting a growth rate of 20% year-on-year[17]. - The company achieved operating revenue of ¥336,510,442.60, representing a year-on-year increase of 17.59%[31]. - Net profit attributable to shareholders decreased to ¥23,274,863.64, down 25.35% compared to the same period last year[23]. - The company reported a total profit of ¥25,644,600.66, a decrease of 29.52% year-on-year[31]. - Basic earnings per share decreased by 34.29% to ¥0.23 compared to the same period last year[23]. - The company reported a net increase in cash and cash equivalents of CNY 141,794,592.72, a remarkable increase of 6,885.41% mainly from funds raised in the initial public offering[46]. - The total comprehensive income for the period was 310,000,000 RMB, reflecting a decrease of 4.86% compared to the previous period[174]. - The net profit margin for the period was approximately 4%, highlighting the company's operational efficiency[174]. Investment and R&D - The company plans to invest RMB 100 million in R&D for new alloy materials and technologies in the upcoming year, aiming to enhance product offerings and market competitiveness[17]. - Research and development investment was CNY 15,592,007.38, a slight increase of 2.03% compared to the previous year[46]. - The company has over 60 patents and has developed 12 core technologies in high-temperature alloy manufacturing, including vacuum melting technology and directional rapid solidification technology[36]. - The company is actively developing strategic partnerships with core suppliers to lower raw material procurement risks[75]. - The company has initiated research and development for new alloy materials, aiming to enhance product offerings and competitiveness[178]. Market Expansion - User data showed a 15% increase in customer base, with over 1,000 new clients acquired in the first half of 2021[17]. - Market expansion efforts include entering two new international markets, with initial sales projections of RMB 50 million from these regions[17]. - The company plans to implement a differentiated strategy to expand its market share in the civilian high-temperature alloy segment and enhance its competitive edge in military, aerospace, and 3D printing sectors[74]. - The company is exploring new markets in nuclear power, environmental protection, and renewable energy to reduce reliance on the oil and gas sector[75]. - The high-temperature alloy industry in China is in a growth phase, with significant future demand expected in military and civilian applications due to national strategic initiatives[38]. Operational Efficiency - The gross profit margin improved to 30%, up from 25% in the previous year, indicating better cost management and pricing strategies[17]. - Operating costs rose to CNY 272,690,824.69, a 26.12% increase primarily attributed to rising raw material prices and labor costs[45]. - The company’s production model includes both order-driven production and standard product inventory production, aiming to reduce production cycles and improve delivery efficiency[34]. - The company is taking measures to optimize its product structure and enhance the technological content of its products to mitigate the impact of material costs on performance[75]. Financial Position - Total assets increased by 42.59% to ¥1,050,027,993.17 compared to the end of the previous year[23]. - Net assets attributable to shareholders rose by 60.09% to ¥840,825,745.92 compared to the end of the previous year[23]. - Current assets increased to ¥862,636,219.76 as of June 30, 2021, up from ¥553,487,022.06 at the end of 2020, representing a growth of 55.8%[149]. - Total liabilities decreased slightly to ¥209,202,247.25 from ¥211,189,969.15, a reduction of 0.9%[150]. - The total amount of raised funds was ¥36,390.00 million, with a net amount of ¥31,032.41 million after deducting issuance costs[61]. Corporate Governance - The company has undergone changes in its board of directors, with new members elected in May 2021 following the resignation of two directors in April 2021[82]. - The company held four shareholder meetings and four board meetings during the reporting period, ensuring active participation from directors and senior management[88]. - The company has not faced any significant environmental protection issues and is not classified as a key pollutant discharge unit[87]. - The company has not reported any changes in the projects funded by raised capital during the reporting period[67]. Risk Management - Risk management strategies have been updated to address supply chain disruptions and market volatility, ensuring operational resilience[5]. - The company faces risks from rising prices of key raw materials such as cobalt and nickel, which significantly impact its gross profit margins[75]. - The company is enhancing collaboration with industry giants to expand its business in countries less affected by the COVID-19 pandemic[76]. Shareholder Information - The company reported a 100% investor participation rate in its first and second extraordinary general meetings held in January and February 2021[80]. - The largest shareholder, Feng Mingming, holds 35.32% of the shares, totaling 42,381,000 shares[133]. - The company has a total of 23,757 ordinary shareholders at the end of the reporting period[132]. - The company has not implemented any share buyback plans during the reporting period[127].

Financial Performance - The company's operating revenue for 2020 was ¥600,278,421.26, a decrease of 5.03% compared to ¥632,044,301.56 in 2019[19]. - The net profit attributable to shareholders for 2020 was ¥61,085,680.25, down 4.52% from ¥63,974,284.87 in 2019[19]. - The total profit for 2020 was ¥68,178,324.84, down 6.53% compared to the previous year[43]. - The company reported a basic earnings per share of ¥0.6787 for 2020, down 4.52% from ¥0.7108 in 2019[19]. - The company's weighted average return on equity was 12.13% in 2020, a decrease of 1.56% from 13.69% in 2019[19]. - The total assets at the end of 2020 were ¥736,416,721.67, reflecting a 0.65% increase from ¥731,695,999.78 at the end of 2019[19]. - The net assets attributable to shareholders increased by 9.62% to ¥525,226,752.52 at the end of 2020, compared to ¥479,141,072.27 at the end of 2019[19]. - The gross profit margin for the high-temperature alloy materials and products industry was 23.28%, a decrease of 0.36% compared to the previous year[50]. - The company's overseas revenue was ¥82,539,220.80, which accounted for 13.75% of total revenue, down 26.73% from the previous year[48]. - The cash dividend payout ratio for 2020 was 29.47% of the net profit attributable to ordinary shareholders, while for 2019 it was 46.89%[88]. Market and Product Development - The company is focused on expanding its market presence and enhancing its product development capabilities[5]. - The company’s main business focuses on the research, production, and sales of high-temperature resistant alloy materials and products[27]. - The company has a diverse product range including castings, forgings, welding powder, and springs, among others[27]. - The company is actively developing new products, including a vacuum atomization powder production line for high-temperature alloy powders aimed at the high-end 3D printing market[77]. - The company plans to develop high-performance UNSN07718 forged materials for harsh drilling conditions, targeting new market opportunities[58]. - The company is focusing on 3D printing alloy powders for medical implants, responding to growing market demand[58]. - The company has successfully entered the supply chain of dozens of leading manufacturing enterprises globally, with products sold in 26 countries and over 3,000 customers in China[31]. - The company is exploring collaborations in the power sector with Siemens and has successfully tested a new welding process for high-power engine valve seats in the automotive industry[77]. Research and Development - The company has established a strong research and development capability, with significant advancements in high-temperature alloy technologies, positioning it as a leader in the industry[30]. - Research and development expenses for 2020 were ¥29,630,026.03, a decrease of 7.95% compared to ¥32,189,597.49 in 2019[56]. - The number of R&D personnel was 101 in 2020, representing 15.09% of the total workforce[60]. - The company collaborates with universities and research institutes to enhance its R&D capabilities and keep up with industry trends[59]. - The company has implemented various incentive measures to motivate R&D personnel and improve innovation[59]. Governance and Compliance - The company’s financial report is guaranteed to be true, accurate, and complete by its board and management[4]. - The company’s governance structure includes a board of directors and supervisory board that ensures compliance and accountability[4]. - The company has established a comprehensive governance structure, enhancing decision-making fairness and ensuring sustainable operations[129]. - The company has maintained a governance structure that complies with the requirements of the China Securities Regulatory Commission, ensuring no significant discrepancies[180]. - The company has a transparent process for appointing senior management, ensuring compliance with legal regulations[193]. Risk Management - The report emphasizes the importance of risk awareness regarding future strategic developments and forecasts[5]. - The company is taking measures to mitigate risks from raw material price fluctuations, particularly for cobalt and nickel, which are critical to its product offerings[79]. - The company is facing significant market competition in the high-temperature corrosion-resistant alloy industry, which could impact its operational performance if it fails to maintain its competitive advantages[79]. Employee Development - In 2020, the company trained over 900 employees, totaling more than 4,600 training hours[45]. - The company has a remuneration policy that links pay to performance, ensuring competitiveness and fairness within the organization[172]. - The total remuneration for the company's directors and senior management during the reporting period amounted to CNY 7.31 million[169]. Shareholder Engagement - The company plans to distribute a cash dividend of 1.5 RMB per 10 shares to all shareholders, based on a total of 120,000,000 shares[5]. - The company distributed a cash dividend of RMB 1.67 per 10 shares, totaling RMB 15 million in 2019 and 2020, based on a total share count of 90 million shares[87]. - The company has fulfilled all commitments made by actual controllers, shareholders, and related parties during the reporting period[89]. - The company assures that all information provided for the public offering is true, accurate, and complete, with no misleading statements[94]. Strategic Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% driven by new product launches and market expansion strategies[91]. - The company aims to enhance its foreign trade market share and increase the proportion of high-end products in its sales[76]. - The company plans to expand its market presence in Southeast Asia, targeting a market share increase of 10% within the next two years[91]. - The company aims to launch three new products in the next quarter, which are anticipated to generate an additional 100 million RMB in revenue[91].

Financial Performance - The company's revenue for Q1 2021 was ¥140,105,840.14, representing a 48.26% increase compared to ¥94,498,630.50 in the same period last year[8] - Net profit attributable to shareholders was ¥5,665,259.78, a 69.91% increase from ¥3,334,220.89 year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥5,359,848.05, up 73.56% from ¥3,088,112.97 in the previous year[8] - The basic earnings per share increased by 70.00% to ¥0.0629 from ¥0.0370 in the same period last year[8] - The total profit reached ¥7,321,794.43, up 63.18% compared to the previous year[18] - The company's operating income for Q1 2021 was CNY 117,068,658.83, an increase from CNY 94,498,630.50 in the previous period[42] - The net profit for Q1 2021 reached CNY 5,665,259.78, compared to CNY 3,334,220.89 in the same period last year, representing a growth of approximately 70.1%[40] - Basic earnings per share for Q1 2021 were CNY 0.0629, up from CNY 0.0370 in the previous year, indicating a rise of 69.5%[40] - The total profit for Q1 2021 was CNY 7,321,794.43, an increase from CNY 4,486,939.54 in the previous year, reflecting a growth of about 63.5%[40] Assets and Liabilities - Total assets at the end of the reporting period were ¥759,078,084.77, a 3.08% increase from ¥736,416,721.67 at the end of the previous year[8] - The company's total assets as of March 31, 2021, amounted to ¥669,055,465.18, compared to ¥632,132,589.00 at the end of 2020, showing an increase of about 5.8%[34] - The total liabilities as of March 31, 2021, were ¥174,605,987.01, up from ¥142,100,931.90 at the end of 2020, representing an increase of approximately 23.0%[35] - The total equity attributable to shareholders reached ¥494,449,478.17 as of March 31, 2021, compared to ¥490,031,657.10 at the end of 2020, a slight increase of about 0.9%[35] Cash Flow - The net cash flow from operating activities was negative at -¥50,110,737.92, a decline of 196.88% compared to -¥16,879,102.95 in the previous year[8] - The cash flow from operating activities for Q1 2021 was negative at CNY -50,110,737.92, worsening from CNY -16,879,102.95 in the previous year[47] - Cash inflows from operating activities totaled 74,423,870.39 CNY, while cash outflows amounted to 115,751,086.42 CNY, resulting in a negative cash flow from operations[50] - The company's operating cash flow for the first quarter was -41,327,216.03 CNY, compared to -13,026,252.70 CNY in the same period last year, indicating a significant decline in cash generation from operations[50] - Total cash and cash equivalents at the end of the quarter were 5,500,958.52 CNY, down from 23,691,754.63 CNY year-over-year, reflecting a decrease of approximately 76.8%[48] Research and Development - Research and development expenses increased by 42.85% to ¥7,859,404.85, reflecting ongoing investment in R&D[16] - Research and development expenses for Q1 2021 were CNY 5,493,868.00, slightly down from CNY 5,501,860.92 in the previous year[42] Market and Competition - The company has seen an increase in orders compared to the same period last year, driven by the recovery of global oil prices and domestic economic development[18] - The company is the first in China to obtain API6A certification for Inconel625 materials, which is expected to lead to new orders in the high-end oil and gas manufacturing equipment market[18] - The company is collaborating on multiple projects in the nuclear power sector, including with the Fangchenggang and Sanmen nuclear power plants[18] - The company is taking measures to optimize product structure and reduce reliance on the oil and gas industry by expanding into nuclear power, environmental protection, and new energy sectors[20] - The company faces market competition risks due to increasing domestic participants in the high-temperature corrosion-resistant alloy industry[19] - The company is exposed to risks from rising raw material prices, particularly cobalt and nickel, which could impact profit margins if product prices cannot be adjusted accordingly[19] Operational Challenges - The company experienced a significant decrease in cash and cash equivalents, down 73.02% to ¥14,066,921.93 due to slower collection of receivables[16] - The company has surpassed a production capacity of 4,000 tons of high-temperature corrosion-resistant alloys, but still faces risks related to production capacity and delivery timelines[20] - The company reported a net credit impairment loss of ¥-2,838,022.36 in Q1 2021, compared to a gain of ¥744,222.40 in Q1 2020, indicating a significant change in credit quality[38] Other Financial Metrics - The company's weighted average return on equity was 1.07%, up from 0.69% in the previous year[8] - The company reported a decrease in sales revenue from 67,482,590.87 CNY to 74,290,823.06 CNY, indicating a year-over-year growth in sales[50] - The company's financial asset impairment loss was CNY -1,766,518.55, compared to a gain of CNY 744,222.40 in the previous year[43] - The total comprehensive income for Q1 2021 was CNY 5,665,259.78, up from CNY 3,334,220.89 in the previous year, indicating a growth of approximately 70.1%[44] - The company's sales expenses for Q1 2021 were CNY 4,126,777.33, a decrease from CNY 4,616,931.34 in the previous year[42] - The company invested 129,922.18 CNY in fixed assets during the quarter, a decrease from 921,031.34 CNY in the same period last year, indicating a reduction in capital expenditures[50] - The net cash flow from investment activities was -129,922.18 CNY, compared to -821,031.34 CNY in the previous year, showing a smaller outflow in investments[50] - The company experienced a foreign exchange loss of -132,234.47 CNY, which impacted the overall cash position[51] - The total cash inflow from financing activities was 15,000,000.00 CNY, while cash outflows for financing activities were 492,395.83 CNY, leading to a net positive cash flow[51] - The company has not undergone an audit for the first quarter report, which may affect the reliability of the financial data presented[52]