Financial Performance - The company's operating revenue for the first half of 2021 was ¥282,656,192.27, representing a 119.54% increase compared to ¥128,750,706.23 in the same period last year[28]. - The net profit attributable to shareholders of the listed company reached ¥61,305,439.24, up 132.18% from ¥26,403,730.53 in the previous year[28]. - The net profit after deducting non-recurring gains and losses was ¥56,841,070.64, reflecting a 151.59% increase compared to ¥22,592,561.99 in the same period last year[28]. - The basic earnings per share increased to ¥0.92, a 109.09% rise from ¥0.44 in the previous year[28]. - Total assets at the end of the reporting period were ¥861,253,628.51, a 94.91% increase from ¥441,878,892.63 at the end of the previous year[28]. - The net assets attributable to shareholders of the listed company were ¥732,476,313.65, up 131.35% from ¥316,612,705.58 at the end of the previous year[28]. - The net cash flow from operating activities was ¥30,062,785.03, down 30.10% from ¥43,006,660.73 in the same period last year[28]. - The weighted average return on equity was 13.08%, an increase of 3.10% compared to 9.98% in the previous year[28]. Revenue Breakdown - The company's revenue from fluid technology products, including cleaning pumps and systems, reached 171.11 million CNY in the first half of 2021, representing a year-on-year growth of 74.79%[39]. - Revenue from the newly developed cooling manifold product in the thermal management system reached 14.79 million CNY in the first half of 2021, showing rapid growth[42]. - Revenue from micro motor technology products, including trunk and side door motors, fan motors, and ABS motors, amounted to 84.79 million CNY in the first half of 2021, with a year-on-year increase of 220.34%[43]. - The revenue from components for new energy vehicles was 53.20 million CNY, accounting for 19.19% of the total main business revenue in the first half of 2021, indicating significant growth[44]. Investment and R&D - The company has invested continuously in technology research and innovation, developing a strong R&D team with solid expertise and industry experience[57]. - The company possesses advanced product R&D capabilities, integrating knowledge from multiple disciplines to optimize product performance and reduce costs[56]. - Research and development expenses rose by 54.91% to ¥8,489,772.90, up from ¥5,480,587.58, attributed to increased costs for materials, molds, and labor[69]. - The R&D team is equipped to provide targeted technical solutions quickly, addressing challenges in product application and improving product and process understanding[62]. Market Position and Strategy - The company has established stable partnerships with major automotive manufacturers and global suppliers, enhancing its market position[46]. - The company is actively developing products in the thermal management system field, aligning with the trend of electrification in the automotive industry[42]. - The company has begun bulk supply to North American new energy vehicle manufacturers, indicating market expansion efforts[39]. - The company employs an "order-driven" production model to optimize production efficiency and reduce costs[45]. - The company has implemented a platform-based and standardized product strategy, improving production efficiency and reducing costs[52]. Risk Factors - The company faced risks which are detailed in the report, including potential market fluctuations and operational challenges[6]. - The company faces risks from macroeconomic fluctuations and domestic industrial policies that could negatively impact sales volume and pricing of its products[105]. - To mitigate risks from raw material price volatility, the company signs framework agreements with key suppliers for long-term procurement to secure price advantages[106]. - The company has a high customer concentration, and any decline in demand from major clients could adversely affect its business[106]. - The company is exposed to international trade friction and policy changes in key export markets, which could affect its operational performance[111]. Environmental and Compliance - The company has established an environmental management system compliant with ISO14001:2015 standards and has received certification from SGS[127]. - During the reporting period, the company did not face any administrative penalties related to environmental issues[132]. - The company has implemented measures to ensure stable emissions of pollutants and total control requirements, with no significant impact on the surrounding environment from construction projects[127]. - The company has maintained compliance with national and local environmental regulations, regularly monitoring pollutant emissions and noise levels[131]. Shareholder Information - The total number of shareholders at the end of the reporting period was 15,785, with the largest shareholder, Ningbo Hengshuai Investment Management Co., Ltd., holding 53.59% of the shares[176]. - The company completed its initial public offering (IPO) of 20 million shares at a price of 20.68 RMB per share, increasing total shares from 60 million to 80 million[171]. - After the share issuance, the basic and diluted earnings per share decreased from 1.11 RMB to 0.92 RMB, while the net asset value per share increased from 5.28 RMB to 9.16 RMB[171]. - The shareholding structure shows a concentration of ownership, with the top three shareholders holding over 75% of the total shares[176].

Financial Performance - The company's operating revenue for 2020 was ¥341,122,318.62, representing a 3.06% increase compared to ¥330,985,178.79 in 2019[23]. - The net profit attributable to shareholders for 2020 was ¥66,355,181.16, a 1.73% increase from ¥65,228,201.69 in 2019[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 2.42% to ¥61,379,018.64 in 2020 from ¥62,898,264.81 in 2019[23]. - The total assets at the end of 2020 were ¥441,878,892.63, a significant increase of 32.39% from ¥333,758,877.35 at the end of 2019[23]. - The net assets attributable to shareholders increased by 26.00% to ¥316,612,705.58 at the end of 2020 from ¥251,279,375.06 at the end of 2019[23]. - The company's cash flow from operating activities for 2020 was ¥78,524,441.10, down 8.26% from ¥85,597,670.96 in 2019[23]. - The company reported a basic earnings per share of ¥1.11 for 2020, up 1.83% from ¥1.09 in 2019[23]. - The company's main business revenue for 2020 was CNY 338,179,480.02, an increase of 4.05% compared to CNY 325,015,230.73 in 2019[80]. - The net profit attributable to shareholders for 2020 was CNY 6,635.52 million, up 1.73% from CNY 6,522.82 million in the previous year[67]. - The gross profit margin for automotive parts was 38.39%, a decrease of 0.44% compared to the previous year[80]. Dividend Distribution - The company reported a profit distribution plan of 2.5 RMB per 10 shares (including tax) based on a base of 80,000,000 shares, with no bonus shares issued[7]. - The total distributable profit for the company as of December 31, 2020, is RMB 104,602,344.94, with a net profit of RMB 67,457,130.92 for the year[138]. - The cash dividend represents 30.14% of the net profit attributable to ordinary shareholders for the year 2020[139]. - The company did not distribute dividends in 2018 and 2019, marking 2020 as the first year of cash dividends[139]. - The cash dividend payout ratio for 2020 is 100% of the total profit distribution[138]. - The company has no plans for stock bonuses or capital reserve transfers in the current dividend proposal[138]. - The remaining undistributed profits will be carried forward to future years[138]. - The company’s retained earnings at the beginning of 2020 were RMB 46,506,283.14[138]. - The statutory surplus reserve of RMB 6,745,713.09 was deducted from the net profit for the year before calculating distributable profits[138]. - The dividend proposal is subject to approval at the company's shareholders' meeting[138]. Research and Development - The company aims to become a global leader in automotive micro-motor technology solutions, focusing on the development of micro-motor technology products and fluid technology products[36]. - The company has a comprehensive R&D design and production technology system based on micro-motor technology, enabling rapid and efficient product development[50]. - The company's R&D capabilities allow for the design of lower noise, higher efficiency, and lighter products tailored to customer needs[52]. - The company has invested continuously in technology research and innovation, developing a strong R&D team with extensive industry experience, enhancing its ability to conduct synchronous product development with clients[53]. - The company plans to focus on the development of micro motors for automotive applications and related systems, enhancing its technological capabilities[112]. - The company is committed to continuous R&D investment to innovate and adapt to market demands in the automotive micro motor sector[113]. - The company is actively developing new applications for automotive micro motors, including "electronic circulation pumps, valves, and manifolds" for new energy vehicle thermal management systems[114]. - The company plans to increase investment in R&D facilities, equipment, and software to enhance its intelligent manufacturing system and improve synchronous development capabilities with customers[117]. - The company will strengthen its talent team and corporate culture to build a technical R&D talent pool aligned with market development directions[119]. Operational Efficiency - The company implements a platform-based and standardized product strategy, which has improved production efficiency and reduced costs[46]. - The company has developed fully automated production lines, enhancing production efficiency and reducing maintenance costs through advanced integration of various technologies[48]. - The company has achieved a high level of automation in its production lines, significantly reducing labor costs and improving production efficiency[62]. - The company has developed strong capabilities in mold design and development, which directly impacts product quality and efficiency, allowing for rapid response to diverse customer needs[55]. - Advanced CAD and mold flow analysis technologies are utilized in the mold design process, improving production capabilities and material efficiency[56]. - The company has implemented a vertical integration strategy, increasing the self-manufacturing rate of core components, which enhances control over supply chains and reduces procurement costs[61]. - The company has established stable partnerships with major global automotive parts suppliers, enhancing its competitive edge and market presence[42]. - The company has a strong talent team with multidisciplinary knowledge, enabling precise product design and effective problem-solving in product applications[60]. Market and Sales - The company has maintained its direct sales model, primarily serving major automotive manufacturers as a first-tier supplier[75]. - The total sales revenue for cleaning pumps reached ¥142,652,598.69, showing a year-on-year increase of 33.76%[82]. - The total revenue from domestic sales was ¥174,262,987.22, with a growth rate of 41.11% year-on-year[82]. - The total revenue from overseas sales was ¥163,916,492.80, reflecting a year-on-year increase of 35.49%[82]. - The production volume of automotive parts in 2020 was 36,033,220 units, representing a year-on-year increase of 6.20% from 33,930,693 units[71]. - The sales volume of automotive parts reached 35,119,078 units, a 5.44% increase compared to 33,306,616 units in the previous year[71]. Risks and Commitments - The company faces risks from cyclical fluctuations in the automotive industry, which could impact sales volume and pricing of its products[120]. - The company is exposed to raw material price volatility risks, which could significantly affect product costs and operating performance[121]. - The company has a high customer concentration risk, which could adversely affect business if major customers reduce demand or switch suppliers[122]. - The company’s export business is subject to currency fluctuation risks, which could impact sales revenue when converted to RMB[123]. - The company is at risk from international trade frictions and policy changes in key export markets, which could affect its operating performance[124]. - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties during the reporting period[176]. - The company has not experienced any changes in the scope of consolidated financial statements compared to the previous year[177]. - The company has committed to compensating investors for any losses due to false records or misleading statements in the prospectus[158]. - The company has undertaken to actively promote the fulfillment of refund and repurchase obligations by its controlling shareholders and actual controllers[167]. - The company has stated that it will take legal responsibility for any false records or significant omissions in its prospectus[170]. - The company has confirmed that all commitments made to minority shareholders have been fulfilled on time[173]. Audit and Compliance - The company's financial report has been confirmed by the board of directors, ensuring its accuracy and completeness[5]. - The company has appointed Tianzhi International Accounting Firm for auditing services during the reporting period[22]. - The current accounting firm is Tianzhi International Accounting Firm with an audit fee of 350,000 RMB and has been providing services for 4 consecutive years[178]. - The company did not experience any bankruptcy reorganization during the reporting period[181]. - There were no significant litigation or arbitration matters during the reporting period[182]. - The company did not face any penalties or rectification issues during the reporting period[183]. - There were no major related party transactions during the reporting period[185]. - The company did not have any major contracts or leasing situations during the reporting period[192]. - The company engaged in entrusted financial management with a total amount of 77 million RMB, with an outstanding balance of 54.5 million RMB[199]. - There were no entrusted loan situations during the reporting period[200].

Financial Performance - The company's revenue for Q1 2021 was ¥135,542,767.92, representing a 117.62% increase compared to ¥62,283,426.39 in the same period last year[10] - Net profit attributable to shareholders was ¥28,894,396.68, up 103.21% from ¥14,219,206.19 year-on-year[10] - The net profit after deducting non-recurring gains and losses was ¥28,326,603.84, reflecting a 137.02% increase from ¥11,951,038.74 in the previous year[10] - Basic earnings per share were ¥0.48, doubling from ¥0.24 in the same quarter last year[10] - The company achieved operating revenue of CNY 135,542,767.92, a year-on-year increase of 117.62%[22] - Net profit attributable to shareholders reached CNY 28,894,396.68, reflecting a growth of 103.21% compared to the previous year[22] - Total revenue for the first quarter reached ¥135,542,767.92, a significant increase from ¥62,283,426.39 in the same period last year, representing a growth of approximately 117.5%[63] - Net profit for the first quarter was ¥28,894,396.68, compared to ¥14,219,206.19 in the previous year, indicating a year-over-year increase of about 103.5%[66] Assets and Liabilities - The company's total assets increased by 6.38% to ¥470,063,150.79 from ¥441,878,892.63 at the end of the previous year[10] - As of March 31, 2021, the company's total assets amounted to CNY 470,063,150.79, an increase from CNY 441,878,892.63 at the end of the previous period[45] - The company's current assets totaled CNY 287,333,690.23, up from CNY 265,481,628.33, indicating a growth of approximately 8.3%[45] - The company's total liabilities were CNY 124,455,973.12, slightly down from CNY 125,266,187.05, indicating a decrease of about 0.6%[51] - The company's total liabilities decreased slightly to ¥124,656,408.90 from ¥126,711,968.08, indicating a reduction of approximately 1.7%[61] Cash Flow - The net cash flow from operating activities decreased by 78.00% to ¥4,214,010.45 from ¥19,153,866.61 in the same period last year[10] - The company's cash flow from operating activities decreased by 78.00% to CNY 4,214,010.45, primarily due to increased payments for goods and employee salaries[24] - The cash flow from operating activities was CNY 4,214,010.45, down 78.0% from CNY 19,153,866.61 in the same period last year[83] - Operating cash inflow for the current period reached ¥120,306,919.39, a significant increase from ¥85,871,511.66 in the previous period, representing an increase of approximately 40%[86] - The net cash flow from operating activities was ¥4,396,462.47, down from ¥21,269,582.80 in the previous period, indicating a decline of about 79%[86] Investments and R&D - The company reported a significant increase in construction in progress, rising by 63.88% to CNY 14,078,572.15, attributed to increased investment in fundraising projects[22] - Research and development expenses increased by 68.90% to CNY 3,943,041.16, indicating a commitment to enhancing R&D activities[22] - Research and development expenses for the quarter were ¥3,943,041.16, compared to ¥2,334,593.30 in the same period last year, showing an increase of about 68.9%[64] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[84] Risks and Challenges - The company faces risks related to cyclical fluctuations in the automotive industry, which could impact sales and pricing of its products[29] - The company has a high customer concentration risk, which could adversely affect its business if major customers reduce demand[30] - The company’s export business is subject to risks from currency fluctuations and international trade policies, which could impact financial performance[31][32] - The company faces potential risks related to product quality and management challenges due to scale expansion, which could impact future performance[34][36] Shareholder Information - The top three shareholders hold a combined 99.01% of the shares, with Ningbo Hengshuai Investment Management Co., Ltd. owning 71.45%[14] - There were no violations regarding external guarantees or non-operating fund occupation by major shareholders during the reporting period[38][39]