证券代码：301031 证券简称：中熔电气 公告编号：2023-076 西安中熔电气股份有限公司 关于设立海外全资子公司及孙公司的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或者重大遗漏。 西安中熔电气股份有限公司（以下简称"公司"或"中熔电气"）于2023年8月9 日召开第三届董事会第十一次会议，审议通过了《关于设立海外全资子公司及孙公司的 议案》，现将具体事项公告如下： 一、对外投资概述 1、为进一步拓展海外市场，满足公司战略发展的需要，在切实维护主营业务稳健 发展的前提下，公司决定使用自有资金及银行融资在新加坡设立全资子公司，在泰国、 美国设立孙公司。 2、公司董事会审议情况：2023年8月9日召开的第三届董事会第十一次会议已审议 通过《关于设立海外全资子公司及孙公司的议案》，本次对外投资设立全资子公司及孙 公司事项未超过董事会审批权限，不需要提交公司股东大会审议批准，但本项投资还需相 关政府部门审批。 公司董事会授权管理层负责具体办理本次投资设立海外子公司、孙公司事宜，包括 但不限于向国家有关部门办理审批备案、办理注册登记等手续。 注册资本：10万新币； ...

关于参加"2023年陕西辖区上市公司投资者集体接待日暨 2022年度业绩说明会"的公告 本公司及全体董事会成员保证信息披露内容的真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 西安中熔电气股份有限公司（以下简称"公司"）《2022年年度报告》及摘要 于2023年4月26日在中国证券监督管理委员会指定创业板上市公司信息披露网站巨 潮资讯网（http://www.cninfo.com.cn）上披露。 证券代码：301031 证券简称：中熔电气 公告编号：2023-061 西安中熔电气股份有限公司 网址：http://rs.p5w.net。 投资者可通过https://ir.p5w.net/zj或扫描下方征集问题二维码提问。公 司将在2022年度业绩说明会上对投资者普遍关注的问题进行交流。 特此公告。 西安中熔电气股份有限公司 为促进上市公司规范运作、健康发展，增强上市公司信息透明度，加强与广 大投资者沟通交流，进一步提升投资者关系管理水平，陕西上市公司协会根据陕 西证监局工作部署，联合深圳市全景网络有限公司举办"2023年陕西辖区上市公 司投资者集体接待日暨2022年度业绩说明会活动"。 届时，公司董事 ...

[Key Financial Data](index=2&type=section&id=I.%20Key%20Financial%20Data) This section provides an overview of the company's financial performance and position for the reporting period [Key Accounting Data and Financial Indicators](index=2&type=section&id=(I)%20Key%20Accounting%20Data%20and%20Financial%20Indicators) In Q1 2023, the company's operating revenue increased by **58.68%** year-over-year to **RMB 231.71 million**, while net profit attributable to shareholders decreased by **2.12%** to **RMB 32.54 million**, primarily due to cost and expense growth exceeding revenue growth, with net cash outflow from operating activities increasing by **45.44%** to **RMB 16.13 million** Key Accounting Data and Financial Indicators (RMB) | Indicator | Current Period | Prior Period | Year-over-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 231,713,359.74 | 146,029,074.29 | 58.68% | | Net Profit Attributable to Shareholders (RMB) | 32,538,675.69 | 33,242,358.55 | -2.12% | | Net Profit Attributable to Shareholders Excluding Non-Recurring Items (RMB) | 31,994,132.20 | 31,451,376.41 | 1.73% | | Net Cash Flow from Operating Activities (RMB) | -16,132,490.70 | -11,092,450.57 | -45.44% | | Basic Earnings Per Share (RMB/share) | 0.4909 | 0.5016 | -2.13% | | Total Assets (RMB) | 1,405,215,240.72 | 1,365,288,887.28 (Year-end) | 2.92% | | Total Equity Attributable to Shareholders (RMB) | 869,915,719.93 | 837,377,044.24 (Year-end) | 3.89% | [Non-Recurring Gains and Losses Items and Amounts](index=2&type=section&id=(II)%20Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) During the reporting period, the company's total non-recurring gains and losses amounted to **RMB 0.54 million**, primarily comprising government grants, entrusted investment income, and fair value changes of financial assets Non-Recurring Gains and Losses Items and Amounts (RMB) | Item | Current Period Amount (RMB) | | :--- | :--- | | Gains/Losses on Disposal of Non-Current Assets | -65,737.86 | | Government Grants Recognized in Current Profit/Loss | 258,131.32 | | Gains/Losses from Entrusted Investments or Asset Management | 294,274.01 | | Gains/Losses from Fair Value Changes of Financial Assets/Liabilities Held for Trading | 153,746.58 | | Other Non-Operating Income and Expenses | 225.35 | | Less: Income Tax Impact | 96,095.91 | | **Total** | **544,543.49** | [Analysis of Key Financial Indicator Changes](index=3&type=section&id=(III)%20Analysis%20of%20Key%20Financial%20Indicator%20Changes) The company experienced significant changes in several financial indicators during the period, with substantial increases in construction in progress and long-term borrowings for project investments, while revenue growth was offset by surging sales, administrative, and R&D expenses, including **RMB 18.81 million** in share-based payment expenses, leading to expanded operating cash outflows - The company implemented an equity incentive plan, recognizing **RMB 18.81 million** in share-based payment expenses during the period, which significantly contributed to the substantial increase in administrative and R&D expenses[10](index=10&type=chunk)[11](index=11&type=chunk) - Sales expenses increased by **165.59%** year-over-year, primarily due to an increase in sales personnel and their compensation, along with increased investment in overseas market promotion[10](index=10&type=chunk) - R&D expenses increased by **217.82%** year-over-year, mainly due to increased new product, process, and equipment development activities, leading to corresponding increases in salaries, testing fees, and material consumption[10](index=10&type=chunk) - Construction in progress and long-term borrowings increased by **30.05%** and **58.48%** respectively, indicating the company is in a phase of capacity expansion and project construction[9](index=9&type=chunk) - Operating cash outflow increased by **104.93%** year-over-year, primarily due to increased payments for goods and employee wages driven by rapid business growth[12](index=12&type=chunk) [Shareholder Information](index=4&type=section&id=II.%20Shareholder%20Information) This section details the company's shareholder structure and significant shareholdings [Shareholding Status of Shareholders](index=4&type=section&id=(I)%20Total%20Number%20of%20Common%20Shareholders%20and%20Preferred%20Shareholders%20with%20Restored%20Voting%20Rights%20and%20Top%20Ten%20Shareholders%27%20Shareholding%20Status) As of the end of the reporting period, the company had **7,205** common shareholders, with Fang Guangwen, Liu Bing, Wang Guifei, and Wang Wei acting in concert, holding a significant combined stake, and Fang Guangwen being the largest shareholder with **13.50%** - As of the end of the reporting period, the company had **7,205** common shareholders[14](index=14&type=chunk) Top Ten Shareholders' Shareholding Status | Shareholder Name | Shareholder Type | Shareholding Percentage (%) | Number of Shares Held | | :--- | :--- | :--- | :--- | | Fang Guangwen | Domestic Individual | 13.50% | 8,949,000.00 | | Shi Xiaoguang | Domestic Individual | 6.67% | 4,418,407.00 | | Xi'an Zhongyu Enterprise Management Consulting Partnership | Domestic Non-State-Owned Legal Entity | 5.91% | 3,914,000.00 | | Liu Bing | Domestic Individual | 5.58% | 3,695,241.00 | | Wang Guifei | Domestic Individual | 4.79% | 3,176,213.00 | - Shareholder association explanation: Fang Guangwen, Liu Bing, Wang Guifei, and Wang Wei are parties acting in concert. Fang Guangwen is the executive partner of Zhongyu Partnership and Zhongying Partnership, while Liu Bing is a limited partner in both partnerships[15](index=15&type=chunk) [Other Significant Matters](index=5&type=section&id=III.%20Other%20Significant%20Matters) This section addresses any other material events or disclosures not covered elsewhere [Other Significant Matters](index=5&type=section&id=III.%20Other%20Significant%20Matters) The company had no other significant matters requiring disclosure during the current reporting period - The company had no other significant matters during the current reporting period[16](index=16&type=chunk) [Quarterly Financial Statements](index=5&type=section&id=IV.%20Quarterly%20Financial%20Statements) This section presents the company's unaudited consolidated financial statements for the quarter [Consolidated Balance Sheet](index=5&type=section&id=1.%20Consolidated%20Balance%20Sheet) As of March 31, 2023, the company's total assets were **RMB 1.41 billion**, total liabilities **RMB 0.54 billion**, and total equity attributable to parent company shareholders **RMB 0.87 billion**, reflecting a high proportion of current assets and significant fixed assets and construction in progress Consolidated Balance Sheet (RMB) | Item | Period-end Balance (RMB) | Beginning of Year Balance (RMB) | Change from Beginning of Year | | :--- | :--- | :--- | :--- | | Total Assets | 1,405,215,240.72 | 1,365,288,887.28 | 2.92% | | Total Liabilities | 535,299,520.79 | 527,911,843.04 | 1.40% | | Total Equity Attributable to Parent Company Shareholders | 869,915,719.93 | 837,377,044.24 | 3.89% | [Consolidated Income Statement](index=7&type=section&id=2.%20Consolidated%20Income%20Statement) In Q1 2023, the company achieved **RMB 231.71 million** in operating revenue, a **58.68%** year-over-year increase, but operating profit declined by **10.19%** and net profit attributable to the parent company slightly decreased by **2.12%** to **RMB 32.54 million** due to substantial increases in operating costs and various expenses Consolidated Income Statement (RMB) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | Year-over-Year Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 231,713,359.74 | 146,029,074.29 | 58.68% | | Total Operating Costs | 198,375,463.59 | 107,790,948.91 | 84.04% | | Operating Profit | 34,535,733.63 | 38,453,737.68 | -10.19% | | Total Profit | 34,748,203.22 | 38,469,845.99 | -9.67% | | Net Profit | 32,538,675.69 | 33,242,358.55 | -2.12% | [Consolidated Cash Flow Statement](index=9&type=section&id=3.%20Consolidated%20Cash%20Flow%20Statement) During the period, net cash outflow from operating activities expanded to **RMB 16.13 million** due to increased payments for goods, employee compensation, and taxes, while investing activities generated **RMB 19.44 million** in net cash inflow from investment recovery, and financing activities generated **RMB 34.91 million** from new bank borrowings, with cash and cash equivalents totaling **RMB 133 million** at period-end Consolidated Cash Flow Statement (RMB) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -16,132,490.70 | -11,092,450.57 | | Net Cash Flow from Investing Activities | 19,436,787.26 | 53,522,203.33 | | Net Cash Flow from Financing Activities | 34,911,306.24 | 0.00 | | Net Increase in Cash and Cash Equivalents | 36,772,461.53 | 42,319,635.81 | [Audit Report](index=11&type=section&id=(II)%20Audit%20Report) This section provides information regarding the audit status of the financial report [Audit Opinion](index=11&type=section&id=(II)%20Audit%20Report) The company's first-quarter 2023 financial report was unaudited - The company's first-quarter report was unaudited[26](index=26&type=chunk)

Financial Performance - The company's operating revenue for 2022 was ¥754,599,658.67, representing a 96.04% increase compared to ¥384,916,466.51 in 2021[23] - The net profit attributable to shareholders for 2022 was ¥153,802,078.58, up 91.11% from ¥80,476,737.63 in the previous year[23] - The net profit after deducting non-recurring gains and losses was ¥147,331,064.66, a 117.61% increase from ¥67,703,131.68 in 2021[23] - The basic earnings per share for 2022 was ¥2.3206, reflecting a 109.06% increase from ¥1.11 in 2021[23] - The total assets at the end of 2022 amounted to ¥1,365,288,887.28, a 39.90% increase from ¥975,913,268.48 at the end of 2021[23] - The net assets attributable to shareholders increased by 15.77% to ¥837,377,044.24 at the end of 2022, compared to ¥723,341,421.86 at the end of 2021[23] - The cash flow from operating activities for 2022 was ¥37,928,673.20, which is a 51.29% increase from ¥25,069,510.44 in 2021[23] - The weighted average return on equity for 2022 was 19.79%, an increase from 15.54% in 2021[23] Quarterly Performance - The company's operating revenue for Q4 reached ¥270,869,854.91, marking a significant increase compared to Q3's ¥178,402,631.77, representing a growth of approximately 51.8%[25] - The net profit attributable to shareholders for Q4 was ¥59,045,212.82, a substantial rise from Q3's ¥31,121,007.96, indicating an increase of about 89.7%[25] - The company reported a net profit of ¥11,986,298.42 from operating activities in Q4, recovering from a loss of ¥5,014,296.67 in Q3[26] Market Position and Strategy - The company has established stable partnerships with major clients in the electric vehicle supply chain, including CATL and BYD, enhancing its market position[36] - The company is actively expanding into emerging markets such as new energy vehicles and energy storage, aligning with industry growth trends[35] - The company has developed incentive fuses and smart fuses, with products covering voltage levels from 70V to 1000VDC, and has been selected by major domestic and international automotive manufacturers[45] - The company has established partnerships with leading firms such as Tesla and Daimler, and aims to expand its global market presence in 2023[46] - The company is focusing on the rapidly growing circuit protection component market, driven by the development of industries such as new energy vehicles and renewable energy[100] Research and Development - The company holds 199 national patents, including 3 invention patents, demonstrating a strong commitment to technology research and development[37] - The company has a competitive advantage in the domestic power fuse market, particularly in the new energy vehicle sector, with established relationships with major brands[47] - The company can develop new products within 3-6 months and achieve mass delivery within 6-12 months, significantly faster than foreign competitors[50] - The company has a clear strategic layout focusing on emerging industries, continuously developing new products and expanding into new markets[44] - Research and development expenses increased by 96.78% to ¥54,839,578.70, driven by new product and technology development activities[66] Operational Efficiency - The company has implemented a strict quality control system and has obtained various international certifications, ensuring product safety and compliance[39] - The company has established a mature technical team of approximately 230 personnel, led by nearly 10 senior professionals with over 20 years of experience[52] - The company has implemented a stock incentive plan to enhance the motivation and stability of core technical personnel[52] - The company has achieved various quality certifications, including IATF16949 and ISO9001, making it one of the most certified enterprises in the domestic electric fuse sector[53] Financial Management - The company reported a government subsidy of ¥3,792,152.22 in 2022, which is closely related to its normal business operations[29] - The company’s total liabilities increased by 21.39% year-on-year, primarily due to increased cash dividends paid during the reporting period[72] - The company has not reported any significant changes in the measurement attributes of its main assets during the reporting period[79] - The company has not experienced significant adverse changes in its main business or management team over the past two years, ensuring stability in control and operations[135] Governance and Compliance - The company has a well-defined governance structure, with the board of directors and management operating independently and fulfilling their respective responsibilities[132] - The company has established a robust independent business system, ensuring no significant adverse impact from competition or unfair related transactions with the actual controller[133] - The company has implemented a comprehensive internal control system in compliance with relevant laws and regulations, ensuring proper governance and operational efficiency[188] - The company has a structured remuneration policy that requires approval from the board and shareholders for any compensation plans[161] Employee Management - The total number of employees at the end of the reporting period was 1,356, with 1,310 from the parent company and 46 from major subsidiaries[176] - The professional composition includes 868 production personnel, 69 sales personnel, 232 technical personnel, 14 financial personnel, and 173 administrative personnel[176] - The company has implemented a performance evaluation system to support the achievement of annual operational goals[177] - A comprehensive training system has been established, including seven training frameworks to enhance employee capabilities[178] Future Outlook - The company has set a revenue guidance of 9.23 billion RMB for the upcoming fiscal year, indicating a projected growth of approximately 43%[142] - The company is planning to expand its market presence in Southeast Asia, targeting a 20% increase in sales from this region by 2025[142] - The company aims to improve operational efficiency by implementing new supply chain strategies, projected to reduce costs by 5%[142] - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 300 million CNY allocated for potential deals[150]

Group 1: Product Development and Market Positioning - The company plans to increase R&D investment in response to future industry trends such as intelligence, modularity, integration, compactness, and lightweight design [1] - The company anticipates that incentive fuses will see increasing application in the new energy vehicle sector due to their proactive protection features [1] - Each vehicle manufacturer has different protection system solutions, with some not using traditional fuses and others requiring a combination of both types [1] Group 2: Technical Barriers and Competitive Strategy - The core technical barriers in the fuse industry include high reliability and consistency requirements, which test the overall performance of fuses under various operating conditions [1] - The company emphasizes providing comprehensive services to customers, focusing on product reliability and consistency rather than competing primarily on price [2] - The company has begun establishing subsidiaries overseas to better respond to international customers and share domestic experiences and achievements [2] Group 3: Talent Acquisition and Company Direction - The company's operational direction and goals are aligned with societal, industry, and company development needs, with a focus on expanding talent reserves to meet increasing customer demands [2] - The company is actively cultivating backup talent while attracting existing industry professionals to ensure long-term development [2]

Group 1: Financial Performance - The fluctuation in net profit margin is influenced by several factors, including the progress of expense settlement, seasonal industry fluctuations, and additional relocation costs incurred in Q3 [1] - The company implemented an equity incentive plan with performance assessment standards based on revenue compound annual growth rate (CAGR), excluding profit [1] Group 2: Industry Characteristics - The fuse industry is characterized by its nature as a safety protection device, where core competitiveness relies on reputation and quality control, especially in the electric vehicle sector [1] - The company's primary goal is to achieve automotive-grade standards across various aspects, including technical indicators and product control [1] Group 3: Competitive Strategy - The company focuses on transforming into an automotive-grade manufacturing model, viewing its main competition as internal rather than external [2] - The company prioritizes strategic layout and customer quality over market share or gross margin, acknowledging that price competition is unavoidable but not the primary factor in the fuse industry [2] Group 4: Research and Development - The company has two types of R&D: one based on future demand predictions, which has a longer cycle, and another that collaborates with customers to modify and develop products, which is shorter [2] - The company emphasizes understanding and meeting customer needs as its greatest advantage, supported by strong R&D capabilities [2] Group 5: Future Planning - Future goals and plans are based on overall strategy, industry trends, and customer requirements [2] - The company does not currently consider refinancing to expand capacity, as existing investment funds have not yet been fully utilized [2]

Financial Performance - The company's revenue for Q3 2022 reached ¥178,402,631.77, representing a 76.73% increase year-over-year[7]. - Net profit attributable to shareholders was ¥31,121,007.96, up 55.08% compared to the same period last year[7]. - The net profit after deducting non-recurring gains and losses was ¥27,977,675.20, reflecting an 82.50% increase year-over-year[7]. - Total operating revenue for the current period reached ¥483,729,803.76, an increase of 82.18% compared to ¥265,518,077.71 in the previous period, driven by rapid growth in the new energy vehicle and wind power generation markets due to policy incentives[17]. - Net profit for the period was ¥94,756,661.64, representing a 68.8% increase from ¥56,099,152.73 in the same period last year[41]. - The total comprehensive income for the period was ¥94,756,661.64, compared to ¥56,099,152.73 in the prior period, showing strong overall performance[43]. Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥1,206,489,362.33, a 23.63% increase from the end of the previous year[7]. - The total liabilities of the company were CNY 427,885,938.14, up from CNY 252,571,846.62, indicating a substantial rise in financial obligations[33]. - The company's cash and cash equivalents amounted to CNY 132,709,030.35, up from CNY 78,479,531.59 at the start of the year, indicating a significant liquidity improvement[31]. - Accounts receivable increased to CNY 228,910,053.60 from CNY 160,506,599.45, reflecting a growth of approximately 42.5%[31]. - The company's equity attributable to shareholders increased to CNY 778,603,424.19 from CNY 723,341,421.86, showing a growth of approximately 7.7%[36]. Cash Flow - Cash flow from operating activities for the year-to-date was ¥25,942,374.78, showing a 13.15% increase year-over-year[7]. - Net cash flow from investment activities improved by 91.20%, reaching -¥36,460,317.65 compared to -¥414,156,176.11 in the previous period, due to reduced idle funds for wealth management purchases[18]. - Net cash flow from financing activities decreased by 103.34% to -¥14,294,462.49 from ¥427,699,799.45, primarily due to the previous period's IPO fundraising[18]. Expenses - Operating costs increased by 86.72% to ¥285,347,407.35 from ¥152,824,784.00, primarily due to the expansion of sales scale[17]. - Research and development expenses rose by 82.10% to ¥34,081,442.27 from ¥18,716,215.68, attributed to increased new product development and patent activities[17]. - Sales expenses increased by 44.31% to ¥26,416,029.97 from ¥18,304,795.51, driven by higher personnel costs and marketing expenses due to increased business volume[17]. - Management expenses rose by 76.05% to ¥30,153,692.65 from ¥17,127,927.71, mainly due to increases in salaries, travel expenses, and office costs[17]. Investments - Investment income surged by 505.09% to ¥4,805,172.80 from ¥794,126.58, mainly due to higher returns from wealth management products[17]. - Cash inflow from investment activities was substantial at ¥791,800,000.00, compared to only ¥30,000,000.00 in the previous period[44]. Shareholder Information - The total number of restricted shares at the end of the period was 5,456,415, with significant releases scheduled for July 15, 2022[30]. - The company has a total of 24,499,603 restricted shares, all of which were released during the reporting period[30]. Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[32].

Financial Performance - The company's operating revenue for the first half of 2022 was ¥305,327,171.99, representing an increase of 85.53% compared to ¥164,571,196.56 in the same period last year[29]. - Net profit attributable to shareholders was ¥63,635,653.68, up 76.61% from ¥36,031,392.21 year-on-year[29]. - The net cash flow from operating activities reached ¥30,956,671.45, a significant increase of 10,180.88% compared to a negative cash flow of ¥307,083.02 in the previous year[29]. - Basic earnings per share rose to ¥0.9601, reflecting a growth of 32.45% from ¥0.7249 in the same period last year[29]. - Total assets at the end of the reporting period were ¥1,100,970,625.22, an increase of 12.81% from ¥975,913,268.48 at the end of the previous year[29]. - The company's net assets attributable to shareholders increased by 3.35% to ¥747,562,617.37 from ¥723,341,421.86 at the end of the previous year[29]. - The weighted average return on equity decreased to 8.43%, down 5.18% from 13.61% in the previous year[29]. - The company's comprehensive gross profit margin for the reporting period was 40.92%[116]. Market and Product Development - The circuit protection components market is experiencing rapid growth, driven by industries such as new energy vehicles and renewable energy[38]. - The company is focusing on expanding into the rail transit and new energy vehicle markets, aiming to become a leading player in these sectors[41]. - The company has established stable partnerships with major clients in the new energy vehicle sector, including Tesla and BYD[42]. - The company holds 168 national patents, including 3 invention patents and 161 utility model patents, enhancing its innovation capabilities[43]. - The company has a diverse product line with nearly 77 product series and over 8,000 specifications, primarily serving high-end markets[47]. - The company has received multiple awards for innovation and quality, including the "Top 10 Innovative Enterprises" in the new energy vehicle industry[43]. - The company can develop new products within 3-6 months and achieve mass delivery in 6-12 months, significantly ahead of foreign competitors[61]. - The company has a diverse product range with nearly 60 product series and over 6,000 specifications, catering to various market needs[63]. Financial Management and Investments - The total amount of raised funds is RMB 39,618.37 million, with RMB 7,531.77 million invested during the reporting period[85]. - Cumulative investment of raised funds reached RMB 22,932.26 million by the end of the reporting period[85]. - The investment in the "Intelligent Electrical Industry Base Construction" project is adjusted from RMB 22,448.40 million to RMB 23,117.71 million, with 44.47% of the investment progress achieved[90]. - The investment in the "R&D Center Construction" project is adjusted from RMB 3,784.65 million to RMB 4,105.84 million, with 40.21% of the investment progress achieved[90]. - The company has permanently supplemented working capital with RMB 1,000 million of over-raised funds, achieving 100% of the planned investment[90]. - The company has a balance of RMB 2,521.76 million in idle raised funds for cash management as of June 30, 2022[89]. - The company has not changed the purpose of raised funds, maintaining a 0.00% change ratio[85]. Strategic Outlook and Future Plans - The company provided a future outlook, projecting a revenue growth of 10-15% for the next quarter[152]. - New product launches are expected to contribute an additional 50 million RMB in revenue over the next six months[153]. - Market expansion plans include entering two new regions, which are projected to increase market share by 5%[155]. - The company is considering strategic acquisitions to bolster its market position, with a budget of 100 million RMB allocated for potential deals[156]. - The company plans to enhance R&D capabilities and shorten product development cycles by expanding laboratory equipment resources[101]. Corporate Governance and Compliance - The company held its first extraordinary shareholders' meeting of 2022 on February 10, with a participation rate of 55.66%[125]. - The annual shareholders' meeting on May 16, 2022, had a participation rate of 55.30%[125]. - The company has elected a new board of directors and supervisory board on May 10, 2022[129]. - The company has committed to not transferring or entrusting the management of its shares for 12 months post-IPO, with a lock-up period extending to July 14, 2024[169]. - The company guarantees to avoid any form of related party transactions or fund occupation, adhering strictly to relevant laws and regulations[187]. - The company has outlined responsibilities for its directors to vote in favor of share repurchase decisions as per the stabilization plan[199]. Risks and Challenges - The company faced risks from intensified industry competition, with its revenue growth of 97.91% lagging behind the 118.20% growth in the new energy vehicle sector[111]. - The company will strengthen customer credit management and increase efforts to recover accounts receivable to mitigate financial risks[120]. - The company aims to improve its product development and iteration capabilities to maintain competitive advantages amid changing industry policies[114].

Group 1: Company Overview and Investment Value - The company serves clients in rapidly developing domestic and international sectors, supporting continuous growth [3] - In 2021, R&D investment reached CNY 27.87 million, accounting for 7.24% of revenue, a 90.26% increase year-on-year [3] - The company holds 135 authorized patents in the domestic fuse market, maintaining a leading position in core technology patents [3] Group 2: Production and Market Performance - The company reported normal production operations, with adherence to information disclosure requirements [3] - In 2019, the company's products captured 55% of the domestic electric vehicle market share [5] - The price of fuses for electric vehicles varies significantly, ranging from hundreds to thousands of CNY depending on the vehicle type [5] Group 3: Challenges and Strategic Responses - The company anticipates delays in product delivery due to COVID-19 lockdowns, which may impact Q2 performance [5] - The company is focused on talent acquisition for R&D, utilizing both experienced hires and fresh graduates [5] - Rising raw material costs, particularly for silver and copper, have affected gross margins, but the company is implementing cost control measures [6] Group 4: Competitive Landscape - The company views competition in the incentive fuse market as an opportunity for growth and innovation [5] - The company emphasizes its commitment to customer service and understanding market demands as key drivers for maintaining market share [6]

Group 1: Company Overview and Market Position - Xi'an Zhongrong Electric Co., Ltd. holds a leading market share in the domestic electric fuse sector, with significant advantages in high-end segments such as new energy vehicles and renewable energy [1] - The company has entered the supply chains of major international players like Tesla and Daimler, and is establishing subsidiaries in South Korea and Germany to enhance overseas market expansion [1] Group 2: Financial Performance and Growth - In Q1 2022, the company's performance increased significantly, driven by rapid growth in markets such as new energy vehicles, renewable energy, and rail transportation [2] - The company's revenue from high-quality fuse products accounted for 7.24% of total revenue in 2021, with R&D investment reaching 27.8683 million yuan, a 90.26% increase compared to the previous year [1] Group 3: R&D and Innovation - The company has established a comprehensive technical system covering product design, material application, process manufacturing, and product testing, supported by a mature technical team with multiple core proprietary technologies [1] - As of the end of 2021, the company had multiple invention patents in the application process, indicating a strong commitment to innovation [1]