Financial Performance - The company's operating revenue for 2022 was ¥634,906,687.22, representing a 24.09% increase compared to ¥511,640,831.43 in 2021[19] - The net profit attributable to shareholders for 2022 was ¥65,935,594.06, up 27.90% from ¥51,554,380.19 in the previous year[19] - The net profit after deducting non-recurring gains and losses was ¥61,180,653.50, reflecting a 33.14% increase from ¥45,951,191.99 in 2021[19] - The total assets at the end of 2022 amounted to ¥949,128,446.25, a 10.90% increase from ¥855,815,290.55 at the end of 2021[19] - The net assets attributable to shareholders increased by 10.19% to ¥622,117,306.74 from ¥564,581,712.68 in 2021[19] - The basic earnings per share for 2022 was ¥0.7849, a 12.13% increase from ¥0.7 in 2021[19] - The cash flow from operating activities showed a significant improvement, with a net outflow of ¥27,809,010.48, compared to a net outflow of ¥97,206,925.43 in 2021, marking a 71.39% improvement[19] - The weighted average return on equity for 2022 was 11.13%, slightly up from 10.87% in 2021[19] Revenue Breakdown - The transformer business accounted for ¥611,838,680.93, or 96.37% of total revenue, with a year-on-year growth of 26.43%[72] - The sales of energy-saving transformers surged to ¥571,189,800.15, marking a significant increase of 58.52% from ¥360,333,824.19 in the previous year[72] - Domestic sales contributed ¥632,078,492.47, which is 99.55% of total revenue, reflecting a growth of 25.05% year-on-year[73] - Electronic components business sales revenue reached ¥15,475,854.93 in 2022, reflecting a year-on-year increase of 19.56% from ¥12,944,360.85 in 2021[77] Research and Development - The company has a strong focus on research and development of new technologies and products, aiming to meet the diverse needs of users and the evolving market[38] - Research and development expenses surged by 61.82% to ¥26,814,782.51 in 2022, driven by higher material consumption[80] - The number of R&D personnel increased to 37 in 2022, up 23.33% from 30 in 2021, with the proportion of R&D personnel rising to 12.71%[84] - R&D investment amounted to ¥26,814,782.51 in 2022, representing 4.22% of operating revenue, an increase from 3.24% in 2021[84] Market and Industry Trends - The overall electricity consumption in China has shown a compound annual growth rate of 5.71% from 2011 to 2022, indicating a growing demand for power infrastructure[29] - The transformer industry is expected to benefit from the "Transformer Energy Efficiency Improvement Plan (2021-2023)", aiming for a 10% increase in the proportion of efficient transformers in operation by 2023[34] - The demand for energy-saving transformers is driven by increasing environmental regulations and the need for sustainable energy solutions[63] Corporate Governance - The company held one annual general meeting and three extraordinary general meetings during the reporting period, ensuring compliance with governance regulations[120] - The board of directors consists of five members, including two independent directors, ensuring adherence to governance standards[120] - The company emphasizes transparency in information disclosure, adhering to legal requirements and ensuring equal access to information for all shareholders[121] - The company maintains independence from its controlling shareholders in terms of assets, personnel, and operations, ensuring autonomous business capabilities[124] Shareholder Engagement and Dividends - The company plans to distribute a cash dividend of ¥1 per 10 shares, totaling ¥8,400,000 (including tax) for the reporting period[153] - The company has established a profit distribution policy that mandates a minimum cash dividend of 10% of the distributable profit each year, with a cumulative distribution of at least 30% over three years[151] - The company’s cash dividend policy requires that the annual distributable profit must be positive and that the net cash flow from operating activities is also positive[151] Risk Management - The company has outlined potential risks and countermeasures in its future development outlook section of the report[4] - The company faces technology risks related to the need for continuous R&D investment and the ability to meet market demands for energy storage and new energy products[112] - The company faces risks from macroeconomic fluctuations, international trade tensions, and potential market oversupply in the energy storage and new energy sectors[114] Strategic Initiatives - The company is actively expanding into the electronic components sector, forming two major business segments: power and electronics[40] - The company plans to invest CNY 15.5 million in the "Silicon Steel S13 and S14 Energy-saving Transformer and Amorphous Transformer Technology Upgrade and Capacity Expansion Project" due to the growth in the transformer market driven by national energy efficiency improvement initiatives[104] - The company aims to enhance its innovation and R&D capabilities by establishing a new R&D center and focusing on the development of energy-saving transformers and storage transformers[110] Social Responsibility - The company has actively engaged in social responsibility, donating RMB 3.1 million to the Red Cross Society in September 2022 and RMB 100,000 to Nanjing University in December 2022 for educational development[164]

Financial Performance - The company's revenue for Q1 2023 was ¥78,063,635.10, a decrease of 59.28% compared to ¥191,727,773.64 in the same period last year[4] - Net profit attributable to shareholders was ¥495,220.41, down 97.95% from ¥24,109,567.11 year-on-year[4] - Basic and diluted earnings per share were both ¥0.0059, reflecting a decline of 97.94% from ¥0.2870 in the same period last year[4] - The company reported a significant drop in operating profit to ¥960,212.33, down 96.49% from ¥27,385,772.80 in the previous year[8] - Net profit for Q1 2023 was ¥495,220.41, a significant decline of 98.0% from ¥24,109,567.11 in Q1 2022[20] - Total operating revenue for Q1 2023 was ¥78,063,635.10, a decrease of 59.3% compared to ¥191,727,773.64 in the same period last year[19] - Total operating costs for Q1 2023 were ¥77,798,116.09, down 53.0% from ¥165,654,112.94 year-over-year[19] Cash Flow - The net cash flow from operating activities improved to ¥3,480,438.65, a significant increase of 111.78% compared to a negative cash flow of ¥29,555,968.34 in the previous year[4] - Cash inflow from operating activities was ¥62,259,066.60, down 46.5% from ¥116,668,614.87 in Q1 2022[22] - Total cash outflow from operating activities amounted to 58,778,627.95, down from 146,224,583.21 year-over-year[23] - The net cash flow from financing activities decreased to 2,706,862.99 from 64,648,837.78 year-over-year[23] - The company paid 38,000,000.00 in debt repayment during the quarter, an increase from 10,000,000.00 in the same period last year[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥921,555,447.21, a decrease of 2.91% from ¥949,128,446.25 at the end of the previous year[4] - The company's current assets totaled CNY 688,411,237.72, down from CNY 724,767,943.65, indicating a decrease of about 5%[16] - The total liabilities were CNY 296,885,679.13, down from CNY 324,874,146.41, indicating a decrease of approximately 8.6%[16] - Total liabilities as of the end of Q1 2023 were ¥298,942,920.06, a decrease of 8.5% from ¥327,011,139.51 at the end of the previous year[20] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 9,242[10] - Total equity attributable to shareholders of the parent company was ¥622,612,527.15, slightly up from ¥622,117,306.74 year-over-year[20] Operational Changes - The decline in revenue was attributed to a decrease in sales orders and the impact of factory relocation and technical upgrades[8] - The company experienced a 70.83% reduction in notes receivable, decreasing from ¥11,653,046.73 to ¥3,399,432.73[8] - Accounts payable decreased by 41.17%, from ¥63,591,826.00 to ¥37,409,429.37, due to reduced procurement of raw materials[8] Stock Issuance - The company plans to issue up to 21 million shares to raise a total of no more than CNY 510 million, pending regulatory approval[13] - The company received a notice from the Shenzhen Stock Exchange regarding the acceptance of its application for the issuance of shares on March 7, 2023[13] - The company is currently undergoing a review process for its stock issuance application, with inquiries received from the Shenzhen Stock Exchange on March 20, 2023[13]

证券代码：301012 证券简称：扬电科技 公告编号：2023-024 江苏扬电科技股份有限公司 关于召开2022年度网上业绩说明会的通知 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 二〇二三年四月二十四日 (二)出席人员：公司董事长程俊明先生，独立董事郭民先生，保荐 代表徐亦潇先生、董事会秘书仇勤俭先生。 (三)接入方式：投资者登陆深圳证券交易所"互动易"平台 （http://irm.cninfo.com.cn），进入"云访谈"栏目参与本次说明会。 二、征集问题事项 为充分尊重投资者、提升交流的针对性，现就公司本次说明会提前 向投资者征集相关问题，广泛听取投资者的意见和建议。投资者可提前 登录"互动易"平台（http://irm.cninfo.com.cn）"云访谈"栏目进 入公司本次说明会页面进行提问。届时公司将在本次说明会上对投资者 普遍关注的问题进行回答。 欢迎广大投资者积极参与。特此公告。 江苏扬电科技股份有限公司董事会 江苏扬电科技股份有限公司（以下简称"公司"）已于2023年4月 24日发布了《2022年年度报告》。为便于广大投资者进一步了解 ...

Financial Performance - Q3 2022 revenue was CNY 121,699,506.29, a decrease of 6.44% year-over-year, while year-to-date revenue reached CNY 539,946,609.38, an increase of 48.19%[5] - Net profit attributable to shareholders for Q3 2022 was CNY 8,397,635.77, down 20.59% year-over-year, with year-to-date net profit at CNY 61,479,392.06, up 66.06%[5] - The net profit after deducting non-recurring gains and losses for Q3 2022 was CNY 11,255,625.24, an increase of 80.46% year-over-year, while year-to-date it was CNY 62,430,955.03, up 90.45%[5] - Basic and diluted earnings per share for Q3 2022 were CNY 0.10, down 23.08% year-over-year, while year-to-date earnings per share were CNY 0.73, up 37.74%[5] - The total operating revenue for the third quarter of 2022 was CNY 539,946,609.38, an increase of 48.3% compared to CNY 364,368,804.88 in the same period last year[20] - The net profit for the third quarter was CNY 61,479,392.06, representing a 66.0% increase from CNY 37,021,468.23 in the previous year[21] - The total comprehensive income for the third quarter was CNY 61,479,392.06, compared to CNY 37,021,468.23 in the same period last year, representing an increase of approximately 66.1%[22] Assets and Liabilities - Total assets as of September 30, 2022, were CNY 911,736,004.16, an increase of 6.53% compared to the end of the previous year[5] - The total assets as of the end of the third quarter were CNY 911,736,004.16, compared to CNY 855,815,290.55 at the end of the previous year, reflecting a growth of 6.5%[18] - The total liabilities increased to CNY 294,074,899.42, a slight rise from CNY 291,233,577.87 year-on-year[18] - The company's equity attributable to shareholders reached CNY 617,661,104.74, up from CNY 564,581,712.68, indicating a growth of 9.4%[18] Cash Flow and Investments - Cash flow from operating activities showed a net outflow of CNY 64,579,224.59 year-to-date, a decrease of 15.73% compared to the same period last year[5] - Cash inflows from operating activities totaled CNY 449,929,468.64, significantly up from CNY 153,123,524.28 in the previous year, marking an increase of 194.5%[25] - The net cash flow from operating activities was negative at CNY -64,579,224.59, an improvement from CNY -76,634,899.01 in the same period last year[25] - Cash outflows for investing activities amounted to CNY 40,713,247.09, compared to CNY 58,111,957.20 in the previous year, indicating a decrease of 30.0%[25] - Cash paid for fixed assets and intangible assets surged to CNY 40,713,247.09, a 566.12% increase, reflecting higher capital expenditures[10] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,764[12] - The largest shareholder, Cheng Junming, holds 32.50% of the shares, totaling 27,300,000 shares[12] Research and Development - R&D expenses increased to ¥21,668,395.28, a rise of 92.54% compared to the previous period, reflecting the company's increased investment in research and development[10] - Research and development expenses reached CNY 21,668,395.28, which is an increase of 92.5% compared to CNY 11,253,886.85 in the same period last year[21] Financing Activities - The company obtained bank loans totaling ¥263,000,000.00, an increase of 198.19% compared to the previous period[10] - Cash inflows from financing activities were CNY 263,000,000.00, up from CNY 234,608,490.58, representing an increase of 12.1%[25] - The net cash flow from financing activities was CNY 68,047,223.78, down from CNY 102,143,906.95 in the previous year, a decrease of 33.4%[25] Operational Costs - The total operating costs amounted to CNY 475,907,211.90, up 48.0% from CNY 321,809,492.60 year-on-year[21] - Cash paid for purchasing goods and services was ¥445,668,465.68, up 142.19%, indicating increased sales costs[10] Other Information - The company reported a significant increase in prepayments, up 266.99% year-to-date, amounting to CNY 65,231,389.55, due to rising raw material prices[9] - The company experienced a 91.48% increase in fixed assets, totaling CNY 105,827,004.84, as projects were completed and assets were acquired[9] - The company's cash and cash equivalents decreased to ¥35,940,575.91 from ¥73,141,286.69 at the beginning of the year[16] - The ending balance of cash and cash equivalents was CNY 35,375,219.32, compared to CNY 22,430,584.41 at the end of the same period last year, an increase of 57.5%[25] - The company did not undergo an audit for the third quarter report[26] - The report was released by the board of directors on October 25, 2022[27]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥418,247,103.09, representing a 78.51% increase compared to ¥234,293,555.25 in the same period last year[19]. - The net profit attributable to shareholders was ¥53,081,756.29, a 100.71% increase from ¥26,446,392.21 year-on-year[19]. - The net profit after deducting non-recurring gains and losses was ¥51,175,329.79, up 92.80% from ¥26,542,970.03 in the previous year[19]. - The company reported a basic earnings per share of ¥0.63, a 50.00% increase from ¥0.42 in the same period last year[19]. - The company's revenue for the reporting period was ¥418,247,103.09, representing a year-on-year increase of 78.51% due to increased market orders and higher unit sales prices[57]. - Operating costs rose to ¥323,882,175.77, reflecting an 80.87% increase compared to the same period last year, driven by the rise in revenue[57]. - The gross profit margin for the overall business was 22.56%, with a slight decrease of 7.05% compared to the previous year[59]. - The company reported a net profit of 21,107,000,000 yuan for the current period, which is an increase of 5.6% compared to the same period last year[171]. Cash Flow and Financial Position - The net cash flow from operating activities was negative at -¥74,553,272.70, worsening by 78.40% compared to -¥41,789,109.59 in the previous year[19]. - The cash and cash equivalents at the end of the reporting period decreased by 107.46% to -¥7,974,190.09, reflecting the use of raised funds[57]. - The company reported cash outflows from investing activities totaling CNY 32,153,078.56, compared to CNY 1,340,838.69 in the previous year, indicating a substantial increase in investment expenditures[162]. - The company's cash and cash equivalents at the end of the period were CNY 64,601,740.01, down from CNY 149,834,123.69 at the end of the previous year, a decline of about 56.8%[162]. - The total cash outflows for operating activities reached CNY 375,791,557.43, compared to CNY 145,486,639.90 in the previous year, indicating a rise of about 158.5%[162]. - The company experienced a net cash decrease of CNY 7,974,190.09 in the first half of 2022, contrasting with an increase of CNY 106,833,729.75 in the same period of 2021[162]. Investment and R&D - Research and development expenses increased significantly by 124.65% to ¥16,118,547.82, indicating a strategic focus on innovation[57]. - The company has invested 10 million yuan in the high-end amorphous and nano-crystal industry research center, which has not yet started construction[73]. - The company has allocated 2.2 billion yuan for research and development to enhance its product offerings and improve operational efficiency[172]. - The company aims to achieve a revenue growth target of 10% for the next fiscal year, driven by increased demand in key markets[172]. Market Strategy and Product Development - The company focuses on energy-efficient electrical machinery manufacturing, specializing in energy-saving transformers and magnetic electronic components[25]. - The company is actively expanding into the electronic components sector, creating two main business segments: power and electronics[26]. - The company aims to extend its product types into more fields, leveraging its leading technology in amorphous alloy materials to meet new market demands[31]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[176]. - The company is exploring potential mergers and acquisitions to further strengthen its market position and diversify its offerings[166]. Corporate Governance and Shareholder Relations - The company does not plan to distribute cash dividends or issue bonus shares[4]. - The company has maintained a focus on protecting shareholder rights, particularly for minority shareholders, by enhancing corporate governance and internal control systems[98]. - There were no stock incentive plans, employee stock ownership plans, or other employee incentive measures implemented during the reporting period[94]. - The company has not faced any administrative penalties due to environmental issues during the reporting period[97]. Operational Efficiency and Risk Management - The company has developed a complete industrial chain from strip materials to magnetic cores and electronic components since 2018, enhancing its profitability[30]. - The company has implemented a robust accounts receivable management system to minimize the risk of bad debts as its business scales up[86]. - The company recognizes the potential adverse effects of macroeconomic fluctuations on the demand for its products, particularly in the consumer electronics and automotive sectors[84]. - The company is closely monitoring macroeconomic changes and industry policies to adapt its strategies and maintain profitability amid potential risks[83]. Asset and Liability Management - The company's total assets increased by 11.79% to ¥956,686,788.54 from ¥855,815,290.55 at the end of the previous year[19]. - Total liabilities increased to ¥347,423,319.57 from ¥291,233,577.87, reflecting a rise of approximately 19%[148]. - Short-term borrowings surged to ¥237,162,034.72, compared to ¥125,306,474.21 at the beginning of the year, which is an increase of approximately 89%[147]. Compliance and Reporting - The half-year financial report has not been audited[104]. - The financial statements are prepared based on the assumption of going concern, with no significant doubts regarding the company's ability to continue operations for the next 12 months[183]. - The company adheres to the accounting standards for enterprises, ensuring that the financial statements reflect a true and complete picture of its financial status, operating results, and cash flows[185].

Financial Performance - The company's revenue for Q1 2022 was ¥191,727,773.64, representing a 120.55% increase compared to ¥86,931,786.01 in the same period last year[3] - Net profit attributable to shareholders for Q1 2022 was ¥24,109,567.11, up 184.68% from ¥8,469,028.63 year-on-year[3] - The basic earnings per share for Q1 2022 increased to ¥0.287, a rise of 120.77% from ¥0.130 in the previous year[3] - Total operating revenue for Q1 2022 reached ¥191,727,773.64, a significant increase of 120.5% compared to ¥86,931,786.01 in the same period last year[17] - The company's net profit for Q1 2022 was ¥27,385,772.80, compared to ¥9,792,943.58 in Q1 2021, reflecting a growth of 178.5%[17] - The total profit for Q1 2022 was CNY 27,301,653.91, compared to CNY 9,604,037.03 in Q1 2021, reflecting an increase of 184.5%[18] Assets and Liabilities - The total assets at the end of Q1 2022 were ¥908,871,667.52, reflecting a 6.20% increase from ¥855,815,290.55 at the end of the previous year[3] - The total assets of the company as of the end of Q1 2022 were ¥908,871,667.52, compared to ¥855,815,290.55 at the beginning of the year, marking a growth of 6.2%[15] - The total liabilities increased to ¥320,180,387.73 from ¥291,233,577.87, reflecting a rise of 9.9%[15] Cash Flow - The net cash flow from operating activities for Q1 2022 was -¥29,555,968.34, a decline of 16.52% compared to -¥25,366,296.88 in the same period last year[3] - Cash inflow from operating activities totaled CNY 116,668,614.87, up from CNY 47,041,889.32 in the previous year, indicating a growth of 148.5%[20] - The company’s cash flow from operating activities was impacted by increased payments for goods and services, totaling CNY 129,012,370.44, compared to CNY 61,669,473.23 in the previous year[20] - Cash inflow from financing activities was CNY 76,800,000.00, with a net cash flow of CNY 64,648,837.78, compared to a negative CNY -817,500.00 in the same period last year[22] - The ending cash and cash equivalents balance was CNY 84,039,174.82, up from CNY 15,217,410.83 at the end of Q1 2021, representing a growth of 453.5%[22] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,856[7] - The largest shareholder, Cheng Junming, holds 32.50% of the shares, amounting to 27,300,000 shares[7] Expenses - Total operating costs for Q1 2022 were ¥165,654,112.94, up 113.4% from ¥77,458,943.54 in Q1 2021[17] - Research and development expenses for Q1 2022 were ¥7,157,607.06, which is a 139.5% increase from ¥2,988,273.10 in Q1 2021[17] - The company reported a tax expense of CNY 3,192,086.80 for Q1 2022, compared to CNY 1,135,008.40 in the previous year[18] Other Financial Metrics - The weighted average return on equity for Q1 2022 was 4.18%, an increase of 2.00% from 2.18% in the previous year[3] - The company reported government subsidies of ¥13,000 for the current period, with a total non-recurring loss of ¥61,544.22 after tax impacts[5] - The company does not have any other non-recurring profit and loss items beyond those reported[5] - Cash outflow for investing activities was CNY 23,629,624.72, significantly higher than CNY 1,582,840.40 in the previous year, marking an increase of 1,394.5%[22] - Accounts receivable decreased to ¥373,783,980.84 from ¥392,465,023.88, indicating a reduction of 4.7%[13] - Inventory increased to ¥189,845,939.41, up 6.0% from ¥177,812,256.91 at the beginning of the year[14] - The company reported a significant increase in financing receivables, which rose to ¥40,861,190.09 from ¥17,352,549.89, representing a growth of 135.0%[13]

Financial Performance - The company's operating revenue for 2021 was ¥511,640,831.43, representing a 16.78% increase compared to ¥438,111,687.30 in 2020[18] - The net profit attributable to shareholders for 2021 was ¥51,554,380.19, a 5.06% increase from ¥49,072,141.86 in 2020[18] - The net cash flow from operating activities was negative at ¥-97,206,925.43, a significant decline of 332.61% compared to ¥41,788,850.38 in 2020[18] - The total assets at the end of 2021 amounted to ¥855,815,290.55, reflecting a 44.56% increase from ¥592,022,311.24 at the end of 2020[18] - The net assets attributable to shareholders increased by 46.89% to ¥564,581,712.68 at the end of 2021, up from ¥384,351,643.80 at the end of 2020[18] - The basic earnings per share for 2021 was ¥0.7, a decrease of 10.26% from ¥0.78 in 2020[18] - The weighted average return on net assets was 10.87%, down from 13.66% in 2020, indicating a decline of 2.79%[18] Revenue Breakdown - The company's total revenue for Q1 was approximately ¥86.93 million, Q2 was ¥147.36 million, Q3 was ¥130.08 million, and Q4 was ¥147.27 million[20] - Net profit attributable to shareholders for Q1 was approximately ¥8.47 million, Q2 was ¥17.98 million, Q3 was ¥10.58 million, and Q4 was ¥14.53 million[20] - The transformer business accounted for ¥483.92 million, or 94.58% of total revenue, with a year-on-year growth of 19.74%[68] - The sales volume of the transformer business increased by 24.35% to ¥389.62 million, while production volume rose by 53.81% to ¥438.82 million[71] - The domestic market contributed ¥505.44 million, or 98.79% of total revenue, with an 18.81% increase from the previous year[68] Cash Flow and Investments - The company's operating cash inflow for 2021 was CNY 240,203,424.26, an increase of 16.47% compared to 2020[83] - Operating cash outflow increased by 105.18% to CNY 337,410,349.69, leading to a net cash flow from operating activities of -CNY 97,206,925.43, a decrease of 332.61%[83] - Investment cash inflow surged by 73,337.83% to CNY 102,592,647.21, while investment cash outflow rose by 870.86% to CNY 124,126,748.30, resulting in a net cash flow from investing activities of -CNY 21,534,101.09[83] - The net cash flow from financing activities increased significantly to CNY 148,360,605.01, a change of -762.72% compared to the previous year, primarily due to public stock issuance[83] Research and Development - Research and development expenses increased by 4.34% to ¥16,570,335.31 in 2021 compared to ¥15,881,403.09 in 2020[78] - The number of R&D personnel increased by 7.14% to 30, with a notable rise in the number of bachelor's degree holders from 7 to 11, representing a 57.14% increase[81] - The company is developing high-efficiency silicon steel transformers, which are expected to significantly enhance market share in the energy-efficient transformer sector[80] - The company is also focusing on low-noise amorphous alloy transformers, which will expand its market presence in areas with high noise requirements[81] Product Development and Market Strategy - The company is focused on the development of energy-efficient transformers and related products, which are crucial for the power supply and distribution industry[28] - The company aims to increase the proportion of high-efficiency energy-saving transformers in operation by 10% by 2023, with a target of 75% for newly added transformers[31] - The company plans to extend its product types into more fields, focusing on the application of amorphous and nanocrystalline materials in energy-saving electrical equipment[42] - The company is actively expanding into the power electronics component sector, developing new nanocrystalline soft magnetic materials to meet industry demands for high-frequency and low-energy consumption[54] Corporate Governance - The company maintains complete independence from its controlling shareholders in terms of assets, personnel, finance, organization, and business operations[119] - The board of directors operates independently, adhering to regulations and ensuring no interference from controlling shareholders in decision-making processes[119] - The company emphasizes transparency in information disclosure, ensuring timely and accurate communication with all shareholders[120] - The company has established four specialized committees under the board to provide scientific and professional advice for decision-making[116] Social Responsibility and Environmental Impact - The company emphasizes environmental protection and has installed ventilation and dust removal equipment in its facilities[156] - The company aims to balance economic, environmental, and social responsibilities while enhancing its corporate image and competitiveness[156] - The company donated RMB 100,000 to the Red Cross Society of Jiangyan District for the "Happy Jiangcheng" public welfare project in March 2021[159] Employee Management - The total number of employees at the end of the reporting period was 271, with 225 in the parent company and 45 in major subsidiaries[142] - Employee training programs are emphasized, including onboarding, skills enhancement, and management training to improve overall employee capabilities[145] - The company has established a comprehensive human resources management system to attract talent through competitive compensation and benefits[157] Shareholder Information - The company distributed a cash dividend of 1.00 yuan per 10 shares, totaling 8,400,000 yuan, which represents 100% of the distributable profit[146] - The total distributable profit for the year was 105,460,023.49 yuan[146] - The largest shareholder, Cheng Junming, holds 32.50% of the shares, totaling 27,300,000 shares[196] - The second-largest shareholder, Zhao Henglong, owns 13.93% of the shares, amounting to 11,700,000 shares[196]

Financial Performance - The company's revenue for Q3 2021 was ¥130,075,249.63, representing an increase of 11.20% compared to the same period last year[5] - The net profit attributable to shareholders for Q3 2021 was ¥10,575,076.02, up by 5.16% year-on-year[5] - The net profit after deducting non-recurring gains and losses decreased by 36.69% to ¥6,237,129.02 in Q3 2021[5] - Total operating revenue for Q3 2021 reached ¥364,368,804.88, an increase of 14.93% compared to ¥317,006,424.01 in the same period last year[20] - Net profit for Q3 2021 was ¥37,021,468.23, representing a 4.58% increase from ¥35,399,195.11 in Q3 2020[22] Assets and Liabilities - The total assets at the end of Q3 2021 reached ¥730,991,459.66, a growth of 23.47% from the end of the previous year[5] - Current assets totaled CNY 619,909,781.00, up from CNY 491,434,757.95, indicating a growth of about 26.1% year-over-year[18] - Total liabilities decreased to CNY 180,942,658.94 from CNY 207,670,667.44, a reduction of about 12.9%[19] - The total equity attributable to shareholders increased to CNY 550,048,800.72 from CNY 384,351,643.80, reflecting a growth of approximately 43.1%[19] Cash Flow - The company's cash flow from operating activities showed a significant decline, with a net outflow of ¥76,634,899.01, down by 2,331.01% year-on-year[10] - The net cash flow from operating activities was -¥76,634,899.01, a decline from -¥3,152,391.13 in the previous year[26] - Cash and cash equivalents at the end of Q3 2021 totaled ¥22,430,584.41, compared to ¥19,944,767.59 at the end of Q3 2020[26] - The net cash flow from financing activities was ¥102,143,906.95, a significant improvement from -¥1,380,250.53 in Q3 2020[26] Share Capital and Earnings - The company issued 21 million new shares, increasing its share capital to ¥84,000,000.00, a rise of 33.33%[9] - The basic earnings per share for Q3 2021 was ¥0.13, reflecting a decrease of 18.75% compared to the same period last year[5] - Basic and diluted earnings per share for Q3 2021 were both ¥0.53, down from ¥0.57 in the same quarter last year[22] Expenses and Subsidies - The company received government subsidies amounting to ¥5,360,100.00 during the reporting period[7] - The company reported a significant increase in other income, with a rise of 297.37% to ¥5,464,531.05, primarily from one-time government subsidies[9] - The company reported a decrease in sales expenses to ¥6,705,818.86 from ¥11,182,813.30 in Q3 2020, a reduction of 40.92%[20] - Research and development expenses increased to ¥11,253,886.85, up 7.19% from ¥10,499,169.86 in the previous year[20] Inventory and Receivables - Inventory increased by 47.2% to ¥110,946,322.04 due to rising raw material prices[9] - Accounts receivable increased to CNY 379,205,323.23 from CNY 313,647,213.51, reflecting a growth of about 20.9%[17] - Inventory rose to CNY 110,946,322.04, compared to CNY 75,372,294.35, marking an increase of approximately 47.2%[17] - The company reported a significant increase in prepayments, which rose to CNY 21,561,245.29 from CNY 4,623,975.64, indicating a growth of about 366.5%[17]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥234,293,555.25, representing a 17.13% increase compared to ¥200,036,039.62 in the same period last year[21]. - The net profit attributable to shareholders was ¥26,446,392.21, a slight increase of 1.89% from ¥25,956,950.56 year-on-year[21]. - The net profit after deducting non-recurring gains and losses was ¥26,542,970.03, which is an 11.02% increase from ¥23,907,496.97 in the previous year[21]. - The company's total assets at the end of the reporting period reached ¥789,991,772.70, marking a 33.44% increase from ¥592,022,311.24 at the end of the previous year[21]. - The net assets attributable to shareholders increased by 40.36% to ¥539,473,724.70 from ¥384,351,643.80 at the end of the previous year[21]. - The basic earnings per share for the reporting period was ¥0.42, up 2.44% from ¥0.41 in the previous year[21]. - The gross profit margin for energy-saving transformers was 25.80%, with a slight increase of 0.01% year-on-year, while the gross profit margin for non-crystalline and nano-crystalline magnetic electronic components was 42.42%, up by 2.86% year-on-year[64]. - The company reported a significant increase in cash flow from financing activities, amounting to ¥149,975,253.89, a staggering increase of 3,107.49% compared to the previous year[62]. - The company's inventory rose to ¥107,236,356.87, representing 13.57% of total assets, due to increased stockpiling of raw materials in response to rising prices[69]. - The company reported a total of 24,659 common shareholders at the end of the reporting period[136]. Operational Challenges - The company reported a negative net cash flow from operating activities of ¥41,789,109.59, a significant decline of 408.16% compared to a negative cash flow of ¥8,223,586.20 in the same period last year[21]. - The average procurement price of key raw materials has been on the rise, which significantly impacts the company's gross profit margin[90]. - The company faces significant risks from macroeconomic changes, particularly in the power distribution and control equipment manufacturing industry, which is heavily influenced by national infrastructure investment[86]. - The company is exposed to market competition risks, particularly from established players in the energy-saving transformer and magnetic electronic components sectors[88]. - The company acknowledges the risk of diluted return on equity due to increased net assets from public stock issuance, which may not yield immediate benefits[94]. Strategic Initiatives - The company focuses on energy-efficient electrical machinery manufacturing, with key products including energy-saving transformers and magnetic components[29]. - The company plans to expand its market presence in the electronic components sector, enhancing its core competitiveness[29]. - The company plans to extend its product types into more fields while adhering to its core business of energy-efficient transformers[34]. - The company aims to diversify its product structure and market strategy to mitigate risks associated with potential declines in sales due to fluctuations in the power industry investment scale[89]. - The company is actively developing new energy-saving transformer products and electronic products to enhance profitability and respond to market demand changes[92]. - The company plans to establish a high-end amorphous and nanocrystalline industry research and development center to enhance its innovation capabilities in the electronic sector[93]. - The company is exploring potential mergers and acquisitions to accelerate growth and market expansion[175]. Research and Development - The company has developed a series of innovative technologies, including "amorphous core and nanocrystalline core annealing technology" and "noise control technology for amorphous alloy transformers," leading to superior performance in key metrics[47]. - The company has established a complete industrial chain from "strip - magnetic core - electronic components" since 2018, aiming to enhance profitability and product variety[34]. - The company’s research and development investment increased by 5.86% to ¥7,174,956.26, reflecting its commitment to innovation[62]. - The company focuses on high-efficiency energy-saving electrical machinery manufacturing and solutions for non-crystalline and nano-crystalline magnetic electronic components[34]. - The company has built an advanced production line for non-crystalline cores, enhancing the production of silicon steel cores through accumulated experience and technology[33]. Corporate Governance - The company does not plan to distribute cash dividends or issue bonus shares for this reporting period[5]. - There were no changes in the company's board of directors, supervisors, or senior management during the reporting period[99]. - The company has not implemented any employee stock ownership plans or other incentive measures during the reporting period[101]. - The company has not engaged in any investor relations activities during the reporting period[95]. - The annual shareholders' meeting held on May 14, 2021, had an investor participation rate of 78.09%[98]. Social Responsibility - The company actively engages in social responsibility initiatives, including a donation of 100,000 RMB to the Red Cross Society for community projects[103]. Financial Reporting - The half-year financial report has not been audited[109]. - The financial report for the first half of 2021 was not audited[147]. - The company adheres to the Chinese Accounting Standards, ensuring that the financial statements accurately reflect its financial position and operating results[191]. - The company’s financial reporting is conducted in RMB, with a focus on short operating cycles of 12 months for asset and liability liquidity classification[194].