瑞纳智能设备股份有限公司 投资者关系活动记录表 股票名称：瑞纳智能 股票代码：301129 编号：2022-018 | --- | --- | --- | |-------------------------|---------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | □特定对象调研 □分析师会议 | | | | □媒体采访 | □业绩说明会 | | 投资者关系活动 类别 | □新闻发布会 □路演活动 | | | | □现场参观 | | | | √其他：线上会议及策略会 | | | 参与单位名称及 人员姓名 | | 诺安基金：左少逸、曲泉儒、黄友文、丁云波；东方证券：浦俊 懿；泰康资管：游涓洋、倪辰辉；开源证券：陈宝健；创金合信 基金：郭镇岳；中科沃土基金：彭上；安信证券：杨楠 ...

瑞纳智能设备股份有限公司 投资者关系活动记录表 股票名称：瑞纳智能 股票代码：301129 编号：2022-024 | --- | --- | --- | |-------------------------|--------------------------------|------------------------------------------------------------| | | √特定对象调研 □分析师会议 | | | | □媒体采访 | □业绩说明会 | | 投资者关系活动 类别 | □新闻发布会 □路演活动 | | | | □现场参观 | | | | □其他： | | | 参与单位名称及 人员姓名 | | 东北证券：黄净、吴雨萌、肖思琦；冲积资产：桑梓 | | 时间 2022 | 年 9 月 26 | 日-2022 年 9 月 30 日 | | 地点 | 公司会议室 | | | | | | | 公司接待人员姓 名 | 证券事务代表：江成全 | 董事、财务总监、董事会秘书：陈朝晖 | | | | 一、公司产品及方案是如何实现节能的？ | | | 答：公司拥有自动化 | (OT)+ ...

瑞纳智能设备股份有限公司 投资者关系活动记录表 股票名称：瑞纳智能 股票代码：301129 编号：2022-027 | --- | --- | --- | |-------------------------|------------------------------------|-----------------------------------------------------------------------------------------------| | | □特定对象调研 □分析师会议 | | | | □媒体采访 | □业绩说明会 | | 投资者关系活动 类别 | □新闻发布会 □路演活动 | | | | □现场参观 | | | | √其他：线上会议 | | | 参与单位名称及 人员姓名 | 详见附件 | | | 时间 2022 | 年 10 月 31 日 | -2022 年 11 月 4 日 | | 地点 线上会议 | | | | 公司接待人员姓 | 董事、财务总监、董事会秘书：陈朝晖 | | | 名 | 证券事务代表：江成全 | | | | | 一、供热行业智能化解决方案的渗透率怎 ...

瑞纳智能设备股份有限公司 投资者关系活动记录表 股票名称：瑞纳智能 股票代码：301129 编号：2022-026 | --- | --- | --- | |-------------------------|------------------------------|----------------------------------------------------------| | | □特定对象调研 □分析师会议 | | | | □媒体采访 | □业绩说明会 | | 投资者关系活动 类别 | □新闻发布会 □路演活动 | | | | □现场参观 | | | | √其他：线上会议 | | | 参与单位名称及 人员姓名 | 详见附件 | | | 时间 2022 | 年 10 月 24 日 | -2022 年 10 月 28 日 | | 地点 线上会议 | | | | | | | | 公司接待人员姓 名 | 证券事务代表：江成全 | 董事、财务总监、董事会秘书：陈朝晖 | | | | 一、智慧供热行业面临哪些机遇？ | | | | 答：（一）多项政策颁布，促进产业发展 | | | | 随着我国工业化，城 ...

瑞纳智能设备股份有限公司 投资者关系活动记录表 股票名称：瑞纳智能 股票代码：301129 编号：2022-025 | --- | --- | --- | |-------------------------|---------------------------|----------------------------------------------------------| | | □特定对象调研 □分析师会议 | | | | □媒体采访 | □业绩说明会 | | 投资者关系活动 类别 | □新闻发布会 □路演活动 | | | | □现场参观 | | | | √其他：线上会议 | | | 参与单位名称及 人员姓名 | 详见附件 | | | 时间 2022 | 年 10 月 20 日 | -2022 年 10 月 21 日 | | 地点 线上会议 | | | | 公司接待人员姓 名 | 证券事务代表：江成全 | 董事、财务总监、董事会秘书：陈朝晖 | | | 大幅增加？ | 一、为什么三季度整体订单释放量较多，但合同负债并未 | | | | 答：（一）今年以来，公司将账龄较长的应收账款催收作为 | | ...

Financial Performance - The company's revenue for Q3 2022 reached ¥77,266,417.93, representing a 39.10% increase compared to the same period last year[5] - Net profit attributable to shareholders for Q3 2022 was ¥15,955,418.94, a significant increase of 333.35% year-on-year[5] - The basic earnings per share for Q3 2022 was ¥0.21, reflecting a 200.00% increase compared to the same period last year[5] - Total operating revenue for Q3 2022 reached ¥173,244,925.69, an increase of 37.4% compared to ¥126,138,511.95 in Q3 2021[21] - Net profit for Q3 2022 was ¥35,157,197.21, compared to ¥12,113,624.58 in Q3 2021, representing a growth of 189.5%[22] - Basic and diluted earnings per share for Q3 2022 were both ¥0.47, up from ¥0.22 in Q3 2021[23] Assets and Liabilities - Total assets at the end of Q3 2022 amounted to ¥1,702,239,450.57, a decrease of 5.13% from the end of the previous year[5] - Total assets as of the end of Q3 2022 amounted to ¥1,702,239,450.57, a decrease from ¥1,794,332,864.31 at the end of Q3 2021[19] - Total liabilities decreased to ¥220,887,926.30 in Q3 2022 from ¥304,662,209.39 in Q3 2021, a reduction of 27.5%[19] - The company’s total liabilities decreased by 52.51% in contract liabilities, amounting to ¥29,676,504.38, due to a reduction in pre-received customer contract payments[8] Cash Flow - The company’s cash flow from operating activities showed a net outflow of ¥151,623,735.67 for the year-to-date, a decrease of 4.52% compared to the previous year[5] - The net cash flow from operating activities was -151,623,735.67, compared to -145,060,081.94 in the previous period, indicating a slight increase in cash outflow[26] - Cash inflow from operating activities totaled 212,568,092.84, up from 149,494,478.28 in the previous period, reflecting a growth of approximately 42%[26] - Cash outflow for purchasing goods and services increased to 221,852,945.72 from 167,049,910.13, representing a rise of about 33%[26] - The company reported cash inflow from investment activities of 954,234,830.16, significantly higher than 9,080.00 in the previous period[26] - The net cash flow from investment activities was -379,030,144.32, compared to -14,358,624.91 in the previous period, indicating a substantial increase in cash outflow[26] - Cash inflow from financing activities was 14,089,000.00, with cash outflow totaling 55,494,853.58, leading to a net cash flow of -41,405,853.58[26] - The ending cash and cash equivalents balance was 124,087,897.13, a significant increase from 23,132,725.08 in the previous period[26] Research and Development - Research and development expenses for the first nine months of 2022 were ¥35,071,216.83, marking a 61.67% increase year-on-year due to increased personnel and investment in R&D[11] - Research and development expenses for Q3 2022 were ¥35,071,216.83, compared to ¥21,692,484.64 in Q3 2021, indicating a 61.5% increase[21] Shareholder Information - The total number of common shareholders at the end of the reporting period is 5,426[13] - The largest shareholder, Yu Dayong, holds 59.82% of the shares, totaling 44,500,000 shares[13] - The total number of preferred shareholders at the end of the reporting period is not applicable[15] - The company has not disclosed any significant changes in the number of restricted shares[15] - The company has not identified any related party relationships among the top ten shareholders[14] Inventory and Receivables - The company's inventory increased significantly from RMB 115,293,078.32 to RMB 218,743,934.48, representing an increase of about 90%[17] - The accounts receivable decreased from RMB 294,988,097.17 to RMB 272,063,124.49, a reduction of approximately 8%[17] Other Financial Metrics - The company reported a total revenue of ¥173,244,925.69 for the first nine months of 2022, which is a 37.34% increase compared to the same period in 2021[11] - The company’s investment income for the first nine months of 2022 was ¥14,312,191.71, indicating a 100.00% increase due to cash management activities[11] - The company reported a significant increase in investment income of ¥14,312,191.71 for Q3 2022, with no prior year comparison available[22] - The total equity attributable to shareholders of the parent company was ¥1,481,351,524.27 in Q3 2022, slightly down from ¥1,489,670,654.92 in Q3 2021[19] - Payments to employees increased to 79,933,659.45 from 61,223,767.53, reflecting a rise of approximately 30%[26] - The company reported a decrease in tax payments to 38,207,710.96 from 46,083,255.40, indicating a reduction of about 17%[26]

证券代码：301129 证券简称：瑞纳智能 公告编号：2022-071 瑞纳智能设备股份有限公司 关于参加安徽辖区上市公司 2022 年投资者 网上集体接待日活动的公告 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、误导性陈述或重大遗漏。 为进一步加强与投资者的互动交流，瑞纳智能设备股份有限公司（以下简称 "公司"）将参加由安徽证监局指导、安徽上市公司协会与深圳市全景网络有限 公司联合举办的"2022 年安徽辖区上市公司投资者集体接待日活动"，现将相 关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP, 参与本次互动交流，活动时间为 2022 年 9 月 7 日（周三） 16：00-17：30。届 时公司高管将在线就公司 2022 半年度报告中的公司业绩、公司治理、发展战略、 经营状况、融资计划、股权激励和可持续发展等投资者关心的问题，与投资者进 行沟通与交流，欢迎广大投资者踊跃参与！ 特此公告！ 瑞纳智能设备股份有限公司 2022 年 9 月 3 日 ...

Financial Performance - The company's operating revenue for the first half of 2022 was ¥95,978,507.76, representing a 35.96% increase compared to ¥70,591,035.59 in the same period last year[22]. - Net profit attributable to shareholders of the listed company reached ¥19,201,778.27, a significant increase of 127.73% from ¥8,431,775.30 in the previous year[22]. - The net profit after deducting non-recurring gains and losses was -¥2,183,212.21, a decrease of 135.97% compared to ¥6,068,952.69 in the same period last year[22]. - The net cash flow from operating activities was -¥126,895,809.59, which is a 35.81% decline from -¥93,435,948.45 in the previous year[22]. - Basic earnings per share increased to ¥0.26, up 73.33% from ¥0.15 in the same period last year[22]. - Total assets at the end of the reporting period were ¥1,646,732,201.54, down 8.23% from ¥1,794,332,864.31 at the end of the previous year[22]. - Net assets attributable to shareholders of the listed company decreased by 1.89% to ¥1,461,488,536.60 from ¥1,489,670,654.92 at the end of the previous year[22]. - The weighted average return on net assets was 1.30%, a decrease of 0.79% from 2.09% in the previous year[22]. Research and Development - The company has approximately 200 R&D personnel, covering various fields necessary for low-carbon smart heating, including HVAC, IoT communication, and AI[33]. - The company has developed multiple core technologies in areas such as heat balance, heating control, IoT intelligence, and AI algorithms, enhancing its competitive edge in the market[63]. - The company's research and development investment reached ¥19,724,784.00, a 40.66% increase from ¥14,022,884.37 in the previous year, primarily due to increased employee compensation and other expenses[77]. - The company has introduced new software copyrights in the first half of 2022, including intelligent micro-electronic water quality management software and smart heating command scheduling system[66][67]. Market Position and Strategy - The company is positioned as a one-stop provider of low-carbon smart heating solutions, integrating R&D, manufacturing, consulting, and energy-saving services[32]. - The company operates in a sector where carbon emissions from heating account for nearly 10% of total societal emissions, highlighting the importance of its solutions[30]. - The company has established partnerships with advanced technology research institutions in Europe to enhance its AI capabilities in clean energy utilization[34]. - The company has successfully implemented a contract energy management model, allowing heating enterprises to share energy savings without upfront costs[35]. - The company aims to drive innovation in low-carbon smart heating technology to achieve safe, intelligent, and sustainable industry development[33]. Environmental and Regulatory Factors - Environmental protection requirements are driving the need for energy-saving measures in heating, particularly in northern regions during winter[57]. - The dual carbon policy is creating a need for energy-saving solutions to meet carbon reduction targets while addressing heating demands[58]. - The government is promoting energy-saving upgrades and the use of renewable energy sources for heating, aiming for a 13.5% reduction in energy consumption per unit of GDP by 2025 compared to 2020 levels[61]. - The company has not faced any environmental penalties during the reporting period and complies with national environmental protection standards[118]. Corporate Governance and Shareholder Information - The company did not distribute cash dividends or issue bonus shares for the first half of 2022[111]. - The company approved the implementation of the 2022 restricted stock incentive plan during the extraordinary general meeting[109]. - The company’s total number of ordinary shareholders at the end of the reporting period was 6,042[166]. - The major shareholder, Yu Dayong, holds 59.82% of the shares, totaling 44,500,000 shares[167]. - The company maintains a diverse shareholder base, including both domestic natural persons and institutional investors[167]. Legal and Compliance Issues - The company has ongoing litigation against Taiyuan Kunze Real Estate Development Co., with a claim amount of 52.38 million CNY, which has not yet gone to court[131]. - The company is pursuing a claim of 121.71 million CNY against Taiyuan Ruilicheng Real Estate Development Co., which is still in litigation[132]. - The company reported a total litigation amount of 1.91 million CNY against a defendant, which was resolved with the plaintiff withdrawing the case[131]. Operational Challenges - The company faces delivery risks due to potential COVID-19 disruptions affecting project delivery and supply chain operations[103]. - To mitigate inventory risks, the company is increasing stock levels in response to rising raw material prices while optimizing internal operations to improve inventory turnover[103]. - Rising prices of fossil fuels like coal and natural gas are increasing the costs for heating companies, making energy conservation a key strategy[54]. Future Outlook - The company provided a positive outlook for the second half of 2022, projecting a revenue growth of 20% to 30% based on current market trends and user acquisition strategies[105]. - The company anticipates significant market opportunities in the near future, with the potential for a market size approaching trillions due to the push for low-carbon heating solutions[62]. - The company is considering strategic acquisitions to bolster its technology portfolio, with potential targets identified in the smart home sector[105].

Financial Performance - The company's revenue for Q1 2022 was CNY 31,384,788.63, representing a 46.14% increase compared to CNY 21,476,214.28 in the same period last year[3]. - Net profit attributable to shareholders for Q1 2022 was CNY 10,684,519.33, a significant increase of 102.86% from CNY 5,266,857.99 year-on-year[3]. - The company's basic earnings per share for Q1 2022 was CNY 0.150, a 50.00% increase from CNY 0.1 in the same period last year[3]. - Operating profit for Q1 2022 was ¥10,917,157.80, a significant increase of 130.0% from ¥4,738,874.30 in Q1 2021[19]. - The net profit for Q1 2022 was 10,684,519.33, compared to 5,266,857.99 in Q1 2021, representing an increase of approximately 102.5%[20]. Cash Flow - The net cash flow from operating activities was negative CNY 72,507,195.40, which is a 19.88% decline compared to negative CNY 60,484,573.65 in the previous year[3]. - Cash inflow from operating activities totaled 78,554,051.07, compared to 46,403,848.35 in the previous year, marking a growth of approximately 69%[21]. - Cash outflow from operating activities was 151,061,246.47, up from 106,888,422.00, resulting in a net cash flow from operating activities of -72,507,195.40, worsening from -60,484,573.65[21]. - The company reported cash inflow from investment activities of 240,000,000.00, with cash outflow totaling 568,639,317.21, leading to a net cash flow from investment activities of -328,639,317.21[23]. - The total cash and cash equivalents at the end of Q1 2022 were 293,975,595.01, down from 696,147,630.08 at the beginning of the period, reflecting a decrease of approximately 58.3%[23]. Assets and Liabilities - The company's total assets decreased by 3.67% to CNY 1,728,489,481.80 from CNY 1,794,332,864.31 at the end of the previous year[3]. - Current assets totaled ¥1,546,397,413.67, a decrease of 4.4% from ¥1,617,570,210.25 at the start of the year[17]. - Total liabilities decreased to ¥228,134,307.55 from ¥304,662,209.39, a reduction of 25.1%[18]. - Shareholders' equity increased to ¥1,500,355,174.25 from ¥1,489,670,654.92, reflecting a growth of 0.6%[18]. Operating Costs - The company experienced a 100.42% increase in operating costs, totaling CNY 13,751,645.32, due to higher sales volume[9]. - Total operating costs for Q1 2022 were ¥42,714,719.08, up 53.5% from ¥27,827,224.03 in Q1 2021[19]. Shareholder Information - The company reported a significant ownership structure, with Yu Dayong holding 60.41% of shares, followed by Wang Zhaojie at 4.48% and Ningbo Meishan Free Trade Port Area Ruihan Investment Management Partnership at 3.39%[11]. - The top ten unrestricted shareholders collectively hold a total of 1,000,000 shares, with the largest being Jia Shi Fund at 659,625 shares[12]. Strategic Initiatives - The company has been recognized as a key enterprise in new energy and energy-saving environmental protection by Anhui Province, indicating a strategic focus on sustainability[13]. - The company is preparing for a stock incentive plan, with a draft for the 2022 restricted stock incentive plan announced, aiming to align employee interests with company performance[14]. - The company is actively engaging in project bidding, as indicated by a recent announcement regarding project wins, suggesting a focus on market expansion[14]. - The company is exploring potential mergers and acquisitions to enhance its market position, although specific details were not disclosed in the current report[12]. Transparency and Governance - The company is committed to transparency, with multiple disclosures regarding shareholder relationships and stock management practices[12]. - The company has initiated cash management strategies using part of the raised funds, with multiple announcements regarding the progress of these cash management activities throughout January and February 2022[13]. - The company has announced plans for a temporary shareholders' meeting to discuss the stock incentive plan and other related matters[14]. Miscellaneous - The company did not report any audited financial results for Q1 2022[24]. - The report was published by the board of directors on April 28, 2022[25].

Financial Performance - The company's operating revenue for 2021 was ¥529,582,537.98, representing a 27.31% increase compared to ¥415,993,645.89 in 2020[19]. - The net profit attributable to shareholders for 2021 was ¥171,261,728.68, a 31.55% increase from ¥130,183,461.63 in 2020[19]. - The net cash flow from operating activities decreased by 26.59% to ¥83,347,993.23 in 2021 from ¥113,541,606.09 in 2020[19]. - The total assets at the end of 2021 reached ¥1,794,332,864.31, a significant increase of 180.88% from ¥638,815,011.47 at the end of 2020[19]. - The company achieved a basic earnings per share of ¥2.94 in 2021, up 24.58% from ¥2.36 in 2020[19]. - The gross profit margin for the company was 55.07%, showing a decrease of 1.36% compared to the previous year[99]. - The company's total operating costs increased by 31.27% to ¥237,936,518.17, with direct materials accounting for 56.38% of total costs[103]. - The company reported a significant decrease in financial expenses by 470.49%, primarily due to increased interest income from self-owned funds[109]. - The company has seen steady growth in its main business scale and profits, benefiting from industry policies supporting energy conservation and carbon reduction[72]. - The company’s revenue in 2021 showed an upward trend, aligning with the overall development of the heating industry influenced by national policies[74]. Dividend Policy - The company plans to distribute a cash dividend of 7.00 RMB per 10 shares to all shareholders based on a total share capital of 73,660,000 shares as of December 31, 2021[4]. - The company emphasizes a stable profit distribution policy, with cash dividends prioritized, ensuring that at least 10% of the distributable profits are allocated as cash dividends each year[197]. - Over the past three years, the company has distributed cash dividends amounting to no less than 30% of the average annual distributable profits[197]. - The company may forgo cash dividends or reduce the payout below 10% under specific conditions, such as if the distributable profit per share is below 0.1 yuan or if significant investment plans exceed 10% of the latest audited net assets[197]. - For mature companies without major capital expenditures, cash dividends should constitute at least 80% of the profit distribution; for those with significant expenditures, the minimum is 40%[198]. - The company has not adjusted its profit distribution policy during the reporting period and has adhered strictly to the existing policy[199]. - The cash dividend policy aligns with the company's articles of association and shareholder resolutions, ensuring clarity and completeness in decision-making processes[200]. Research and Development - The company has a research and development team of over 150 personnel, focusing on low-carbon smart heating technologies, ensuring its leading position in the industry[42]. - The company invested over 22.9% more in R&D compared to the previous year, focusing on advanced technologies for urban low-carbon heating solutions[89]. - The R&D investment in 2021 increased by 22.73% compared to 2020, reflecting a commitment to innovation and technology advancement[112]. - The number of R&D personnel increased by 19.38% from 129 in 2020 to 154 in 2021[112]. - The company has established three major R&D centers focused on energy-saving heating systems, with a strong emphasis on multi-disciplinary development[76]. - The company has completed the development of a big data platform for heating, supporting massive data processing and AI algorithm integration[111]. - The company is developing an AI-based algorithm for precise heating supply, enhancing adaptability and energy savings[111]. - Continuous R&D efforts are focused on urban smart low-carbon heating solutions and AI hardware/software products, enhancing energy efficiency and supporting sustainable development[141]. Market Position and Strategy - The company is positioned as a leading provider of smart heating solutions in China, leveraging advanced technologies such as AI and big data[30]. - The company is focused on the development of smart heating management platforms utilizing IoT, big data, and cloud computing technologies[12]. - The company anticipates that the implementation of carbon peak and carbon neutrality policies will drive further development in the smart heating industry[30]. - The expected market size for energy-saving renovations in the existing heating market exceeds 840 billion yuan, with a projected growth of nearly 50% in urban heating area by 2030[36]. - The company aims to achieve high standards of low-carbon heating in both existing and new markets, potentially creating a market opportunity worth nearly one trillion yuan[72]. - The company is actively promoting heating system upgrades to transition from coal power to a balanced approach of basic and system-regulating power sources[72]. - The company is exploring new market opportunities and expanding its brand recognition in untapped markets[140]. - The company is focused on expanding its market presence and enhancing its product offerings through ongoing research and development efforts[173]. Operational Efficiency - The company is committed to optimizing resource allocation and improving efficiency in the heating industry through advanced technologies[12]. - The company operates primarily in the heating sector, with revenue and cash flow concentrated in the fourth quarter due to seasonal demand[31]. - The company has developed a one-stop complete industrial chain innovation service model, integrating products, technical solutions, and energy-saving services, enhancing its core competitiveness in the market[39]. - The company’s energy management service model allows clients to share energy savings without upfront costs, which has been well received by heating enterprises[45]. - The company is leveraging smart heating technologies, including IoT, big data, and cloud computing, to enhance the visibility and controllability of heating systems, significantly reducing costs[69]. - The company has established strong partnerships with major heating enterprises, leading to new customer acquisition and business growth through referrals[73]. - The company is actively engaging with local heating companies to align with national carbon reduction goals[148]. Governance and Compliance - The company has established a governance structure that includes a board of directors, supervisory board, and independent directors to ensure compliance and protect shareholder interests[150]. - The company maintains independence from its controlling shareholders in terms of assets, personnel, finance, institutions, and business operations[159]. - The company has an independent financial department with a standardized financial accounting system and independent bank accounts[161]. - The company held 2 shareholder meetings and 4 board meetings in 2021, all conducted in compliance with regulations[151]. - The company has established four specialized committees: Audit Committee, Strategy Committee, Nomination Committee, and Compensation and Assessment Committee[155]. - The company maintains a commitment to transparency and accountability in its operations and governance practices[175]. Employee Management - The total number of employees at the end of the reporting period was 622, with 281 in the parent company and 341 in major subsidiaries[192]. - The professional composition includes 121 production personnel, 113 sales personnel, 266 technical personnel, 17 financial personnel, and 105 administrative personnel[192]. - The company implements a performance-oriented compensation system that adjusts employee salaries based on performance, aiming to align employee interests with corporate benefits[194]. - Annual training plans are developed to enhance employee skills and performance, focusing on management skills, operational skills, and professional technical levels[195]. - The company has established a comprehensive welfare system to attract and retain talent, supporting overall strategic development[194]. Risks and Challenges - The company faces risks from domestic pandemic uncertainties, which could impact project delivery, especially during the peak delivery season from May to October[142]. - Fluctuations in raw material prices due to global challenges pose risks, but the company maintains sufficient inventory and optimizes supply chain management[143]. - Seasonal business fluctuations lead to uneven revenue distribution, with most income generated in the fourth quarter due to heating season constraints[144]. - Strategic investments in core technologies and partnerships are intended to mitigate risks associated with new project implementations and market uncertainties[143].