Group 1: Company Overview - The company is Jiangsu Jinxue Energy-Saving Technology Co., Ltd., with stock code 301010 and abbreviation Jinxue Energy-Saving [7] - The board secretary, Xu Lan, highlighted the company's focus on the East China region, particularly in Jiangsu, Zhejiang, and Shanghai, where cold storage and construction facilities are being developed [2] Group 2: Market Contribution and Structure - The East China region has shown significant contribution growth, with a high market share for Jinxue in the cold storage sector [2] - The downstream project type structure is categorized as follows: Cold Chain Logistics 30%, E-commerce 20%, Pharmaceuticals 10%, Food and Beverage 15%, Industrial Construction 25% [3] Group 3: Customer Structure and Procurement - The customer structure is evenly split between direct procurement by owners and procurement through general contractors, with a ratio of 5:5 [4] - The contract amounts for individual projects range from hundreds of thousands to tens of millions, with the majority falling between 3 million to 10 million [5] Group 4: Competitive Landscape - The market for energy-saving insulation materials in cold storage systems is fragmented, with many competitors and low market concentration. Jinxue leads in capacity, market share, and brand recognition [6] Group 5: Production Capacity and Future Plans - Current production capacity includes 2.55 million square meters of energy-saving insulation panels and 10,500 industrial/cold storage doors. A new project for energy-saving insulation panels is expected to increase capacity by 1.8 million square meters per year by the end of December 2022 [8]

Financial Performance - The company's revenue for Q3 2022 was ¥145,470,336.30, a decrease of 17.55% compared to the same period last year[5] - Net profit attributable to shareholders for Q3 2022 was ¥4,628,330.84, down 3.99% year-on-year[5] - Total operating revenue for Q3 2022 was CNY 420,300,517.47, a decrease of 7.4% compared to CNY 453,468,237.78 in Q3 2021[24] - Net profit for Q3 2022 was CNY 18,797,012.95, a decline of 12.3% from CNY 21,440,637.42 in Q3 2021[25] - The total comprehensive income for the period was CNY 18,797,012.95, compared to CNY 21,440,637.42 in the previous period, reflecting a decrease of approximately 12.3%[26] - Basic and diluted earnings per share were CNY 0.18, down from CNY 0.23 in the previous period, indicating a decline of about 21.7%[26] Assets and Liabilities - The total assets at the end of Q3 2022 reached ¥1,624,503,906.16, reflecting a growth of 6.59% from the end of the previous year[5] - The company's total assets increased to CNY 1,624,503,906.16 in Q3 2022, up from CNY 1,524,022,531.38 in Q3 2021, reflecting a growth of 6.6%[22] - Current liabilities rose to CNY 811,532,303.57 in Q3 2022, compared to CNY 709,690,258.17 in Q3 2021, marking an increase of 14.3%[22] - The total liabilities for Q3 2022 were CNY 842,050,645.62, an increase of 13.9% from CNY 739,522,354.76 in Q3 2021[22] - The company's equity attributable to shareholders was CNY 782,066,909.60 in Q3 2022, slightly down from CNY 784,015,870.10 in Q3 2021[22] Cash Flow - The cash flow from operating activities showed a net outflow of ¥39,487,844.53, an improvement of 52.62% compared to the previous period[13] - Cash inflow from operating activities totaled CNY 655,442,399.24, an increase of 8.8% from CNY 602,020,290.46 in the previous period[29] - The net cash flow from operating activities was negative at CNY -39,487,844.53, an improvement from CNY -83,351,276.00 in the previous period[29] - Cash flow from investment activities generated a net inflow of CNY 33,176,729.72, compared to a net outflow of CNY -173,036,193.39 in the previous period, showing a significant turnaround[29] - Cash flow from financing activities resulted in a net inflow of CNY 5,428,977.86, down from CNY 156,861,650.45 in the previous period[29] - The ending cash and cash equivalents balance was CNY 131,392,204.71, a decrease from CNY 147,475,839.20 at the beginning of the period[29] - The company received CNY 100,000,000.00 from investment recoveries during the period, which was not recorded in the previous period[29] - The company paid CNY 22,861,022.14 in dividends and interest during the period, compared to CNY 1,044,452.29 in the previous period, indicating a significant increase in cash outflows for this purpose[29] - The company reported a tax refund of CNY 3,486,736.18, up from CNY 2,276,115.88 in the previous period, reflecting a growth of approximately 53.3%[29] Shareholder Information - The total number of common shareholders at the end of the reporting period is 10,314[16] - The largest shareholder, Changzhou Jingxue Investment Management Co., Ltd., holds 34.51% of shares, totaling 37,270,530 shares[16] - The second-largest shareholder, Iceberg Cold Technology Co., Ltd., holds 18.91% of shares, totaling 20,421,720 shares[16] - The company had a total of 23,661,720 restricted shares released during the reporting period, resulting in zero restricted shares remaining[18] - The company has a significant shareholder relationship, with Changzhou Jingxue Investment Management Co., Ltd. and Changzhou Tongde Investment Management Center being under the control of the same individuals[17] - The company has seen an increase in the number of shares held by shareholders involved in margin trading, with specific numbers for several shareholders listed[17] - The company has a total of 4.52% of shares held by Changzhou Tongde Investment Management Center, totaling 4,880,250 shares[16] - The company’s total number of shares held by the top ten unrestricted shareholders includes 20,421,720 shares from Iceberg Cold Technology Co., Ltd.[16] Inventory and Costs - The company's inventory increased by 36.28% to ¥770,214,928.09, attributed to business scale growth[10] - Total operating costs for Q3 2022 were CNY 405,797,393.50, down 6.2% from CNY 432,618,658.42 in the same period last year[24] - Inventory levels increased to CNY 770,214,928.09 in Q3 2022, up from CNY 565,168,711.70 in Q3 2021, representing a growth of 36.3%[22] - Research and development expenses for Q3 2022 were CNY 13,242,717.31, a decrease of 24.5% from CNY 17,536,840.71 in Q3 2021[25] - The company reported a gross profit margin of approximately 3.6% for Q3 2022, down from 4.6% in Q3 2021[24] Borrowings and Liabilities - The short-term borrowings rose by 96.64% to ¥59,051,525.00, primarily due to new bank loans[10] - The contract liabilities increased by 56.33% to ¥485,236,141.53, indicating growth in pre-received payments[10]

Financial Performance - The company reported a revenue of RMB 100 million for the first half of 2022, representing a year-on-year increase of 15% compared to the same period in 2021[17]. - The company's operating revenue for the first half of 2022 was ¥274,830,181.17, a decrease of 0.79% compared to ¥277,028,549.54 in the same period last year[23]. - Net profit attributable to shareholders decreased by 14.13% to ¥14,266,637.69 from ¥16,613,580.63 year-on-year[23]. - The total profit for the first half of 2022 was CNY 15,134,816.91, compared to CNY 18,901,193.26 in the first half of 2021, reflecting a decline of 20.5%[146]. - The total comprehensive income for the first half of 2022 was CNY 14,233,453.36, compared to CNY 16,637,748.36 in the same period of 2021, reflecting a decline of 14.4%[147]. - The company reported a basic earnings per share of ¥0.13, down 31.58% from ¥0.19 in the same period last year[23]. - The company's total equity attributable to shareholders decreased to CNY 777,276,923.08 from CNY 784,015,870.10, reflecting a decline of approximately 0.9%[140]. - The company reported a net profit attributable to shareholders for the first half of 2022 was 221.9 million yuan, a decrease of 15.5% year-on-year[169]. Research and Development - The company plans to invest RMB 20 million in research and development for new energy-saving technologies in the upcoming year[17]. - The company has established a mature R&D team with 87 technical personnel, accounting for 17.06% of the total workforce[43]. - The company has a strong focus on R&D, with a total investment of approximately ¥8.69 million during the reporting period, a decrease of 16.01% year-on-year[50]. - Research and development expenses amounted to CNY 8,686,240.72, a decrease of 16% from CNY 10,341,851.68 in the previous year[149]. Market Strategy and Expansion - The company has outlined a market expansion strategy targeting the Southeast Asian region, aiming for a 10% market share by the end of 2023[17]. - User data indicates a 25% increase in customer inquiries for energy-saving products compared to the previous year[17]. - The company is focused on energy-saving insulation materials for cold storage and industrial buildings, with a significant market opportunity driven by government policies supporting cold chain logistics[31][32]. - The company aims to expand its market presence in the cold chain logistics and food processing sectors[172]. Financial Position and Assets - Total assets increased by 4.17% to ¥1,587,592,791.09 from ¥1,524,022,531.38 at the end of the previous year[23]. - Cash and cash equivalents at the end of the reporting period were 196,184,010, making up 12.36% of total assets, a decrease of 0.58% from the previous year[55]. - Inventory increased significantly to 697,465,569, which is 43.93% of total assets, reflecting a rise of 6.85% compared to the previous year[55]. - The company's cash and cash equivalents amounted to CNY 179,222,232.96 as of June 30, 2022, compared to CNY 169,779,241.38 at the beginning of the year, showing an increase of about 5.3%[142]. Operational Challenges and Risks - The company has identified risks related to raw material price fluctuations and is implementing measures to mitigate these risks[5]. - The ongoing COVID-19 pandemic poses potential risks to the company's production and operations, with a focus on maintaining operational continuity[79]. - The company acknowledges risks from macroeconomic fluctuations and industry policy changes affecting the cold chain logistics sector[77]. Governance and Shareholder Relations - The company actively protects shareholder and investor rights by improving governance and enhancing information disclosure transparency[90]. - The company emphasizes the importance of maintaining operational performance and value creation to protect the rights of minority shareholders[80]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[97]. Production and Capacity - The company has a production capacity of 2.55 million square meters of various energy-saving panels and 10,600 cold storage and industrial doors annually[44]. - The company has implemented a production model based on "sales-driven production," aligning production plans with customer orders[37]. Environmental and Social Responsibility - The company has taken measures to reduce carbon emissions, such as using energy-efficient lighting and enhancing employee awareness of environmental protection[89]. - The company focuses on employee welfare and safety training, ensuring no occupational diseases or violations occurred during the reporting period[91]. - In response to the COVID-19 outbreak in Changzhou, the company organized nucleic acid testing for all employees and donated 6,000 masks and 1,000 sets of protective clothing to the local government[93]. Financial Reporting and Compliance - The semi-annual financial report for the company was not audited[99]. - The company has implemented the 2021 profit distribution plan through cash dividends to reward shareholders[91]. - The financial statements prepared by the company comply with the requirements of the enterprise accounting standards, reflecting the company's financial position, operating results, and cash flows accurately and completely[176].

Financial Performance - The company reported a total revenue of RMB 1.08 billion for the year 2021, representing a year-on-year increase of 15%[17]. - The net profit attributable to shareholders was RMB 120 million, an increase of 20% compared to the previous year[17]. - The company's operating revenue for 2021 was CNY 914,019,079.37, an increase of 18.28% compared to CNY 772,785,891.15 in 2020[21]. - The net profit attributable to shareholders for 2021 was CNY 67,100,790.28, reflecting an increase of 11.45% from CNY 60,206,578.50 in 2020[21]. - The company reported a basic earnings per share of CNY 0.71 for 2021, down 4.05% from CNY 0.74 in 2020[21]. - The company achieved a total operating revenue of ¥914,019,079.37 in 2021, representing an 18.28% increase compared to ¥772,785,891.15 in 2020[64]. - The main business revenue was ¥909,044,096.29, accounting for 99.46% of total revenue, with a year-on-year growth of 18.06%[64]. - The company reported a total of -4,507,109.29 yuan in investment income, accounting for -5.90% of total profit[83]. - The company achieved a net profit of ¥66,034,623.32 for the year 2021, with a distributable profit for shareholders amounting to ¥260,712,398.05 after accounting for retained earnings[178]. Market Expansion and Strategy - The company is focusing on expanding its market presence in Southeast Asia, targeting a 30% increase in sales from this region in 2022[17]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[145]. - A strategic acquisition of a local competitor is in progress, which is anticipated to enhance the company's production capacity by 30%[145]. - The company plans to open branches in Chengdu and Guangzhou to enhance resource integration and optimize strategic layout[55]. - The company aims to expand its market share by developing markets across the country, particularly in the biomedical, fine chemicals, and precision electronics sectors, which are experiencing growth in temperature-sensitive products[110]. Research and Development - The company has invested RMB 50 million in R&D for new technologies aimed at improving energy efficiency in its products[17]. - The company has 10 self-developed projects in the experimental stage and has obtained 4 new invention patents and 10 utility model patents during the reporting period[49]. - The company established a special R&D team to improve the formulation of polyol mixtures for cold storage insulation panels, currently in the small-scale testing phase[57]. - The company is developing a new formulation for polyurethane rigid foam, expected to enhance core competitiveness and profitability by October 2022[76]. - The company has allocated 10 million RMB for R&D of new energy-saving technologies in 2022[199]. Customer Base and User Growth - User data indicates a growth in customer base by 25%, reaching a total of 500,000 active users by the end of 2021[17]. - User data indicates a growth in active users, reaching 500,000, which is a 20% increase compared to the previous year[152]. - The management team has emphasized a focus on enhancing customer service, aiming to improve customer satisfaction scores by 15% over the next year[152]. Operational Efficiency and Cost Management - The company aims to reduce operational costs by 15% through process optimization initiatives[145]. - The company has established a comprehensive service system centered on customer needs, enhancing operational efficiency and customer satisfaction[52]. - The company is actively managing its accounts receivable and has approved measures to enhance cash management using idle funds[162]. Governance and Compliance - The company maintains an independent and complete asset structure, with clear ownership of assets and no interference from the controlling shareholder[131]. - The company has established a fair and transparent performance evaluation and incentive mechanism for directors, supervisors, and senior management[127]. - The company strictly adheres to information disclosure regulations, ensuring timely and accurate information dissemination to all investors[129]. - The company has a robust mechanism for monitoring compliance and legality of major transactions and financial conditions[126]. Sustainability and Social Responsibility - The management team emphasized a commitment to sustainability, with plans to achieve carbon neutrality by 2025[145]. - The company implemented energy-saving measures, including the use of energy-efficient lighting and the establishment of green areas, to reduce carbon emissions[189]. - The company donated over 250,000 yuan in pandemic prevention materials to local government for COVID-19 control efforts during the reporting period[192]. Future Outlook - Future guidance estimates a revenue growth of 10-15% for 2022, driven by new product launches and market expansion efforts[17]. - The company has set a revenue guidance of 1.5 billion RMB for the next fiscal year, projecting a growth rate of 25%[145]. - The company plans to cautiously pursue acquisitions or mergers with related industry firms to enrich supplier resources and expand market share[111]. Employee Management and Remuneration - The total remuneration paid to directors, supervisors, and senior management during the reporting period amounted to CNY 3.8419 million[158]. - The remuneration structure for directors and senior management consists of basic salary and performance-based pay, with performance pay linked to the company's operational performance and individual assessments[158]. - The company has implemented a salary policy that includes fixed and variable components to promote long-term development[171].

Financial Performance - The company's revenue for Q1 2022 was ¥91,729,385.11, representing a 6.81% increase compared to ¥85,881,018.82 in the same period last year[4] - Net profit attributable to shareholders decreased by 19.77% to ¥3,991,464.72 from ¥4,974,840.70 year-on-year[4] - The net profit after deducting non-recurring gains and losses fell by 49.17% to ¥2,251,418.37 compared to ¥4,429,625.47 in the previous year[4] - Operating profit decreased to ¥3,670,155.55 from ¥5,989,224.58, a decline of approximately 38.8%[20] - Net profit for the current period was ¥3,878,918.85, down from ¥4,975,298.53, indicating a decrease of around 22.1%[20] - Basic and diluted earnings per share were both ¥0.04, compared to ¥0.06 in the previous period, a reduction of 33.3%[21] Cash Flow - The net cash flow from operating activities was -¥64,119,030.56, a decline of 43.58% from -¥44,656,520.29 in the same period last year[9] - Cash flow from operating activities showed a net outflow of ¥64,119,030.56, worsening from a net outflow of ¥44,656,520.29 in the previous period[24] - Cash and cash equivalents at the end of the period totaled ¥89,380,866.28, compared to ¥83,658,522.76 at the end of the previous period, an increase of approximately 6.5%[25] - Investment activities generated a net cash inflow of ¥11,741,410.47, contrasting with a net outflow of ¥18,777,078.77 in the previous period[25] - Financing activities resulted in a net cash inflow of ¥9,668,079.90, compared to a net outflow of ¥376,722.22 in the previous period[25] Assets and Liabilities - Total assets increased by 2.40% to ¥1,560,623,039.71 from ¥1,524,022,531.38 at the end of the previous year[5] - The company's current assets totaled CNY 1,306,829,472.12, compared to CNY 1,288,722,048.45 at the start of the year, reflecting a growth of approximately 1.3%[15] - Inventory increased significantly to CNY 671,182,719.79 from CNY 565,168,711.70, representing a rise of about 18.7%[15] - The total liabilities of the company were CNY 771,828,152.82, up from CNY 739,522,354.76, indicating an increase of approximately 4.0%[17] - The company's equity attributable to shareholders reached CNY 788,423,126.24, slightly up from CNY 784,015,870.10, showing a marginal increase of about 0.5%[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 14,078[10] Government Support - The company received government subsidies amounting to ¥1,257,557.48, which are closely related to its normal business operations[7] Other Financial Metrics - The company's weighted average return on equity decreased to 0.51% from 0.89% year-on-year, a drop of 0.38%[4] - Accounts receivable decreased to CNY 268,868,834.27 from CNY 326,800,636.78, a decline of about 17.7%[15] - The company reported a significant increase in prepayments, which rose to CNY 98,082,395.32 from CNY 48,785,074.72, reflecting a growth of approximately 101.5%[15] - The total non-current assets amounted to CNY 253,793,567.59, an increase from CNY 235,300,482.93, indicating a growth of about 7.9%[16] - The company's cash and cash equivalents decreased to CNY 147,857,783.41 from CNY 197,139,783.12, representing a decline of approximately 25.0%[15] - Total operating costs increased to ¥94,511,787.22 from ¥88,718,490.16, reflecting a rise of about 6.4%[19] - The company reported a tax expense of -¥152,194.34, a significant decrease from ¥999,738.58 in the previous period, indicating a change in tax obligations[20]

Financial Performance - The company's operating revenue for Q3 2021 was ¥176,439,688.24, a decrease of 3.78% compared to the same period last year[3] - The net profit attributable to shareholders was ¥4,820,432.02, down 57.47% year-on-year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥4,230,897.92, a decline of 59.89% compared to the previous year[3] - Total operating revenue for the third quarter of 2021 reached CNY 453,468,237.78, an increase of 7.99% compared to CNY 423,110,425.64 in the same period last year[20] - The net profit for Q3 2021 was CNY 21,440,637.42, an increase of 10.9% compared to CNY 19,314,654.79 in Q3 2020[21] - Operating profit for Q3 2021 reached CNY 23,669,787.38, up from CNY 20,126,822.42 in the same period last year, reflecting a growth of 12.1%[21] - The company reported a total comprehensive income of CNY 21,440,637.42 for Q3 2021, compared to CNY 19,314,654.79 in Q3 2020, reflecting an increase of 11.0%[22] - Basic and diluted earnings per share for Q3 2021 were both CNY 0.23, slightly down from CNY 0.24 in the same quarter last year[22] Assets and Liabilities - The company's total assets increased by 38.70% to ¥1,457,108,289.61 compared to the end of the previous year[4] - Total assets increased to CNY 1,457,108,289.61 from CNY 1,050,528,439.96, indicating a growth of 38.69%[18] - Total liabilities rose to CNY 718,489,845.91, up from CNY 491,272,685.91, reflecting a year-over-year increase of 46.24%[18] - Total liabilities increased, indicating potential leverage for future investments and expansions[27] - Total liabilities reached CNY 491.27 million, with current liabilities at CNY 478.13 million[30] Equity and Shareholder Information - The equity attributable to shareholders increased by 32.09% to ¥738,236,573.63 compared to the end of the previous year[4] - The company's equity attributable to shareholders increased to CNY 738,236,573.63 from CNY 558,880,508.75, a growth of 32.16%[18] - The number of ordinary shareholders at the end of the reporting period was 18,307[11] Cash Flow and Financing - The cash flow from operating activities showed a net outflow of ¥83,351,276.00, a decrease of 347.02% compared to the same period last year[10] - The cash flow from operating activities showed a net outflow of CNY -83,351,276.00, a significant decline from a net inflow of CNY 33,742,177.34 in Q3 2020[26] - The company's cash and cash equivalents decreased to CNY 103,330,501.40 from CNY 163,037,732.91, representing a decline of 36.67%[16] - Cash and cash equivalents at the end of Q3 2021 were CNY 47,875,330.57, a decrease from CNY 141,486,045.80 at the end of Q3 2020[26] - The company raised ¥156,861,650.45 from financing activities, a significant increase of 2397.99% compared to the previous year[10] - The company raised CNY 178,210,000.00 from investment activities during the quarter, compared to CNY 50,000,000.00 in the previous year[26] Inventory and Expenses - The company reported a significant increase in inventory, which rose by 84.92% to ¥644,853,774.49, attributed to business scale growth[7] - Inventory levels rose significantly to CNY 644,853,774.49, compared to CNY 348,715,221.35, marking an increase of 84.94%[16] - The company's management expenses increased by 32.08% to ¥34,063,045.96, mainly due to increased hospitality and IPO-related expenses[9] - Research and development expenses increased to CNY 17,536,840.71, compared to CNY 14,587,400.06 in Q3 2020, marking a rise of 20.1%[21] Future Outlook and Strategic Focus - The company is focusing on expanding its market presence and enhancing product development, although specific new products or technologies were not detailed in the provided content[20] - The company has not undergone an audit for the third quarter report, which may affect investor confidence[32] - The company is implementing new leasing standards, which may impact future financial reporting[32]

Financial Performance - The company reported a revenue of 100 million RMB for the first half of 2021, representing a year-on-year increase of 20% compared to the same period in 2020[18]. - The gross profit margin for the first half of 2021 was 35%, an increase of 5 percentage points from the previous year[18]. - The company's operating revenue for the reporting period was ¥277,028,549.54, representing a 15.55% increase compared to the same period last year[24]. - The net profit attributable to shareholders was ¥16,613,580.63, reflecting a significant growth of 106.92% year-over-year[24]. - The net profit after deducting non-recurring gains and losses was ¥15,428,984.44, which is a 133.34% increase from the previous year[24]. - Future performance guidance suggests a revenue growth target of 25% for the second half of 2021[18]. - The total profit for the reporting period was CNY 18,901,193.26, which is a significant increase of 132.76% from CNY 8,120,592.23 in the previous year, attributed to a lower base from accounts receivable impairment[69]. - The total comprehensive income for the first half of 2021 was CNY 20,702,712.85, compared to CNY 13,421,978.11 in the same period of 2020, representing a year-over-year increase of approximately 54.7%[172]. Investment and R&D - The company plans to invest 50 million RMB in research and development for new energy-saving technologies in the upcoming year[18]. - Research and development expenses increased by 37.88% to CNY 10,341,851.68 from CNY 7,500,424.65, indicating a focus on innovation and product development[69]. - The company is accelerating the construction of energy-saving insulation board projects and a new materials R&D center, which will alleviate production capacity bottlenecks and enhance product differentiation[48]. - The company has a mature R&D team with 72 technical personnel, accounting for 15.19% of total employees, and holds 58 domestic patents[67]. Market Strategy and Expansion - The company has outlined a market expansion strategy targeting Southeast Asia, aiming for a 10% market share by the end of 2022[18]. - The company is exploring potential mergers and acquisitions to enhance its product offerings and market presence[18]. - The company aims to expand its product line and application areas, creating new profit growth points through strategic project implementations[48]. Operational Efficiency - The company’s production model is based on "sales-driven production," ensuring efficient production planning and execution[42]. - The company has established partnerships with leading refrigeration equipment suppliers and cold chain logistics operators, enhancing its market position[46]. - The company has introduced advanced automated production lines from Italy and Germany, significantly improving product quality and efficiency[56]. Financial Stability and Risks - The company reported a negative net cash flow from operating activities of ¥20,888,442.15, a decline of 404.61% year-over-year[24]. - The company is closely monitoring macroeconomic trends and industry policy changes to mitigate risks associated with economic fluctuations[98]. - The management has identified risks related to raw material price fluctuations and is implementing measures to mitigate these risks[6]. - The company has implemented measures to strengthen accounts receivable management and optimize customer credit ratings to reduce financial risks[99]. Shareholder Information - No cash dividends or stock bonuses will be distributed to shareholders for the current fiscal year[7]. - The total number of shares increased from 81 million to 108 million, with the issuance of 27 million new shares[138]. - The largest shareholder, Changzhou Jingxue Investment Management Co., Ltd., holds 34.51% of the shares, amounting to 37,270,530 shares[143]. Compliance and Legal Matters - There were no significant environmental violations or penalties reported during the period, reflecting compliance with environmental regulations[110]. - The company has not faced any major litigation or arbitration matters during the reporting period, suggesting a stable legal standing[119]. - The company reported a litigation case involving a shareholder contribution dispute with a claim amount of 2.1775 million yuan, with a favorable ruling received on March 22, 2021[120]. Cash Flow and Liquidity - The company's cash and cash equivalents increased to CNY 118,493,520.40 from a decrease of CNY -1,647,550.91 in the previous year, driven by the inflow of raised funds[69]. - The cash flow from financing activities was positive at CNY 177,406,996.89, reflecting successful fundraising efforts[69]. - The ending balance of cash and cash equivalents was CNY 265,969,359.60, up from CNY 121,743,868.73 at the end of the first half of 2020, marking an increase of approximately 118.5%[177]. Inventory and Accounts Receivable - The company's inventory value reached CNY 501.62 million, accounting for 42.52% of current assets, indicating a significant increase due to expanding operational scale and long production cycles for customized products[100]. - Accounts receivable, including contract assets, amounted to CNY 255.64 million, accounting for 18.23% of total assets as of the reporting period end[99].