Financial Performance - The company's operating revenue for the year reached ¥5,458,269,681.72, an increase of 38.93% compared to ¥3,928,683,633.72 from the previous year[29]. - Net profit attributable to shareholders was ¥1,112,682,334.92, reflecting an 80.80% increase from ¥615,434,511.89 in the previous year[29]. - The net cash flow from operating activities surged to ¥702,873,956.88, a remarkable increase of 1,103.69% compared to ¥58,393,044.79 last year[29]. - Basic earnings per share rose to ¥6.64, up 76.13% from ¥3.77 in the previous year[29]. - Total assets increased to ¥6,793,513,687.35, marking a 74.92% growth from ¥3,883,760,807.29 at the end of the previous year[29]. - The company's net assets attributable to shareholders reached ¥5,333,105,037.12, a significant increase of 386.16% from ¥1,096,984,574.13 at the end of the previous year[29]. - The wind power equipment segment contributed CNY 5.366 billion, accounting for 98.31% of total revenue, with a year-on-year growth of 38.51%[103]. - The gross profit margin for the wind power equipment segment improved to 28.21%, reflecting a 4.61% increase from the previous year[103]. - The East China region accounted for 96.24% of total revenue, with a 40.93% increase year-on-year[106]. Market Position and Industry Outlook - The offshore wind power market is expected to grow significantly, with China's offshore wind power installed capacity reaching 16.90 GW in 2021, accounting for 87% of global new installations[45]. - The company is positioned to benefit from the increasing investment in renewable energy, particularly in offshore wind power, which is seen as the future direction of the power generation industry[44]. - The offshore wind power industry in China is expected to reach a total installed capacity of 3,009 GW, with an anticipated addition of over 50 GW during the "14th Five-Year Plan" period[48]. - The global offshore wind power market is projected to add 235 GW of new installed capacity over the next decade, approximately seven times the current market size, with a compound annual growth rate of about 31.5% from 2021 to 2025[54]. - The wind power industry is supported by strong national policies, with significant growth potential projected in both domestic and international markets[78]. - The Chinese government aims for a total installed capacity of wind and solar power to exceed 1.2 billion kilowatts by 2030, driving demand for wind power components[81]. Research and Development - The company has completed several R&D projects aimed at enhancing product specifications and expanding market space, including offshore wind turbine projects[120]. - The company completed the R&D of a 600-ton cylindrical monopile foundation for a 5.0MW offshore wind turbine, ensuring the surface treatment process meets quality standards[121]. - The company has developed a 750-ton cylindrical monopile foundation for a 4.0MW offshore wind turbine, focusing on automatic welding techniques to ensure product qualification rates[124]. - The company achieved a 20-year paint lifespan for its monopile foundations through targeted research on surface treatment technology, while maintaining cost control[124]. - The company is committed to enhancing the reliability and stability of its products through ongoing R&D efforts[124]. - Research and development investment amounted to ¥252,013,223.23 in 2021, representing 4.62% of operating revenue, an increase from 4.50% in 2020[144]. - The capitalized R&D expenditure in 2021 was ¥234,359,596.21, accounting for 92.99% of total R&D investment, indicating a significant focus on capitalizing R&D costs[144]. Supply Chain and Production - The company adopts a self-purchasing model for raw materials, including steel plates and flanges, aligning procurement with sales contracts[64]. - The procurement process is governed by management systems such as the "Procurement Management System" and "Supplier Management System," ensuring quality and stability in supplier relationships[65]. - The production model is based on "sales-driven production," primarily serving large wind turbine manufacturers and operators with customized products[66]. - The company has a stable supply of raw materials and maintains good relationships with major suppliers, ensuring timely and quality product supply[68]. - The company has established multiple production bases in coastal areas, enhancing its operational efficiency and reducing transportation costs[92]. Investor Relations and Corporate Governance - The company emphasizes the importance of risk awareness regarding forward-looking statements in its development strategy and operational plans[7]. - The company’s financial report has been confirmed by the responsible persons, ensuring its authenticity and completeness[5]. - The company has provided contact information for its board secretary and securities affairs representative for investor inquiries[24]. - The company aims to enhance investor relations through multiple communication channels, ensuring transparency and protecting investor rights[102]. Challenges and Risks - The company has not yet expanded into overseas markets, which limits growth potential compared to competitors in the industry[74]. - The company’s asset scale is relatively small compared to leading suppliers, affecting its risk resistance and market share in onshore wind energy[75]. - The company’s main business revenue is concentrated in the East China region, indicating a need for improved market expansion capabilities[76]. - The offshore wind power industry is expected to experience a slowdown in growth due to subsidy policy adjustments, but will still see significant development during the "14th Five-Year Plan" period[55].

Financial Performance - The company's revenue for Q1 2022 was ¥153,257,567.98, a decrease of 86.03% compared to ¥1,097,382,456.30 in the same period last year[6] - Net profit attributable to shareholders was ¥62,036,353.76, down 70.27% from ¥208,649,362.10 year-on-year[6] - The basic earnings per share decreased by 77.34% to ¥0.29 from ¥1.28 in the same period last year[6] - Total operating revenue for the current period is ¥153,257,567.98, a significant decrease from ¥1,097,382,456.30 in the previous period[43] - Net profit for the current period is ¥63,630,175.50, down from ¥226,253,594.74 in the previous period[46] - Total comprehensive income amounted to CNY 63,630,175.50, a decrease from CNY 226,253,594.74 in the previous period[49] - Basic and diluted earnings per share were both CNY 0.29, down from CNY 1.28 year-over-year[49] Cash Flow and Liquidity - The net cash flow from operating activities was -¥145,796,951.81, a significant decline of 1,820.64% compared to ¥8,473,390.23 in the previous year[6] - Cash received from sales and services was ¥156,667,791.76, a decrease of 75.48% compared to the previous period, attributed to a slowdown in downstream project construction during the initial phase of offshore wind power parity grid connection[16] - Cash inflow from operating activities totaled CNY 280,448,343.96, significantly lower than CNY 699,855,542.69 in the prior period[53] - Net cash outflow from operating activities was CNY -145,796,951.81, compared to a positive cash flow of CNY 8,473,390.23 last year[53] - The ending balance of cash and cash equivalents was ¥2,018,957,974.33, an increase of 2833.68% compared to the previous period, primarily due to a large amount of funds raised from the initial public offering[16] - The ending balance of cash and cash equivalents was CNY 2,018,957,974.33, down from CNY 68,819,926.68 at the end of the previous period[56] Assets and Liabilities - Total assets at the end of the reporting period were ¥6,597,448,432.54, down 2.89% from ¥6,793,513,687.35 at the end of the previous year[6] - The company's total assets decreased from ¥6,793,513,687.35 to ¥6,597,448,432.54[41] - Total liabilities decreased from ¥1,225,095,025.83 to ¥965,399,595.52[41] - The company’s total liabilities increased by 47.95% in short-term borrowings, reaching ¥200,000,000.00 from ¥135,181,698.62 last year[13] - The total current assets decreased from ¥5,954,522,316.01 to ¥5,695,539,759.09, reflecting a reduction of about 4.4%[36] - The company's inventory increased to ¥320,938,172.86 from ¥260,337,730.59, marking a rise of approximately 23.3%[36] Government Support and Subsidies - The company received government subsidies amounting to ¥80,363,965.06, primarily due to tax refunds[8] - Cash received from other operating activities increased by 103.25% to ¥123,780,552.20, mainly due to government subsidies[16] Operational Challenges and Market Outlook - The company reported a significant decline in performance due to the end of the "rush installation tide" and the impact of the pandemic on project construction speed[27] - The company is facing risks related to potential reductions in government support for the wind power industry, which could adversely affect revenue and profit levels[32] - The company expects the offshore wind power industry to see an additional installed capacity of over 50GW during the "14th Five-Year Plan" period, indicating a positive market outlook[30] - The company plans to actively participate in bidding for offshore wind projects, with an estimated 15GW of projects expected to be tendered in 2022[30] - The company aims to enhance its operational efficiency and cost control measures to improve overall profitability[30] - The company is committed to maintaining its market share and competitive advantage in the offshore wind power sector[30] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 43,832[17] - The largest shareholder, Xu Shijun, holds 31.92% of the shares, totaling 69,399,876 shares[17] Research and Development - Research and development expenses for the current period are ¥3,539,442.95, down from ¥4,270,972.65 in the previous period[43] Financial Expenses - The company reported a financial expense of -¥7,131,936.61, compared to ¥6,053,754.91 in the previous period[46]