Financial Performance - The company's operating revenue for 2021 was ¥1,331,449,371.27, representing a 19.85% increase compared to ¥1,110,946,384.15 in 2020[33]. - The net profit attributable to shareholders in 2021 was ¥175,876,435.87, a 49.79% increase from ¥117,414,060.98 in 2020[33]. - The net profit after deducting non-recurring gains and losses was ¥168,930,617.97, up 79.31% from ¥94,210,460.00 in 2020[33]. - The net cash flow from operating activities reached ¥97,211,052.94, a significant increase of 166.21% compared to ¥36,517,216.56 in 2020[33]. - The total assets at the end of 2021 were ¥1,807,174,079.13, reflecting a 55.49% increase from ¥1,162,225,597.68 at the end of 2020[33]. - The net assets attributable to shareholders increased by 115.48% to ¥1,143,796,678.53 from ¥530,819,686.89 in 2020[33]. - The basic earnings per share for 2021 was ¥0.48, a 45.45% increase from ¥0.33 in 2020[33]. - The weighted average return on equity was 26.80%, up from 24.91% in 2020[33]. - The company reported a quarterly revenue of ¥388,512,049.63 in Q3 2021, the highest among the four quarters[38]. - The company received government subsidies amounting to ¥8,415,661.92 in 2021, compared to ¥15,866,725.64 in 2020[41]. Production and Capacity Expansion - The company is expanding its production capacity with new projects, including micro lithium-ion batteries and precision components, which are designed based on long-term development plans[7]. - The company has developed a product matrix including precision structural components, thermal protection components, digital transmission control integrated components, flexible functional components, and micro lithium-ion batteries, focusing on the lithium-ion battery industry[50]. - The micro lithium-ion batteries developed by the company have entered the capacity ramp-up stage, applicable to small smart terminals such as wearable devices[58]. - The company has established a comprehensive manufacturing system, achieving high-quality and lean production through automation and core technology mastery in various production processes[56]. - The company is actively developing precision structural components for new energy and 5G base station applications[86]. - The company is developing a fully automated assembly line for battery connection pieces, aiming to enhance efficiency and reduce costs[106]. - A new laser welding encapsulation technology is being developed to improve product quality and reduce waste during production[109]. - The company is working on an automatic detection device for encapsulation, which aims to enhance quality control and reduce product defects[109]. - A flexible circuit board assembly device for notebook backlit keyboards is under development, expected to improve assembly efficiency and reduce labor costs[109]. - The company has introduced a new mold for keyboard light-shielding reflective sheets, facilitating easier extraction of products post-manufacturing[109]. Market and Industry Trends - The company’s products are primarily used in rapidly evolving sectors such as consumer electronics, power batteries, 5G communications, and smart wearables[10]. - The market for consumer electronics is expected to grow from $245 billion in 2009 to $939 billion by 2025, with a compound annual growth rate of 11.3%[51]. - The cumulative scale of electrochemical energy storage is projected to grow at a compound annual growth rate of 57.4% over the next five years, indicating a steady and rapid market growth trend[55]. - The global sales of new energy vehicles reached approximately 6.37 million units in 2021, a year-on-year increase of 100%, with the installed capacity of power batteries at about 292.13 GWh, up 114% year-on-year[54]. - In 2021, China's new energy vehicle production and sales were 3.545 million and 3.521 million units, respectively, both growing by 160% year-on-year, with a penetration rate increasing from 5.4% to 13.4%[54]. - The domestic energy storage battery shipment volume reached 48 GWh in 2021, a year-on-year increase of 260%, with power storage battery shipments at 29 GWh, up 439% from 6.6 GWh in 2020[55]. Research and Development - The company has a strong focus on R&D, holding multiple patents and non-patented technologies, but must continue to innovate to maintain its competitive edge[8]. - The company has a robust R&D model focusing on order-responsive and improvement-driven development, enhancing product quality and manufacturing efficiency[75]. - The number of R&D personnel increased by 23.44% from 209 to 258, accounting for 18.82% of the total workforce[115]. - R&D investment amounted to ¥58,206,236.92 in 2021, representing 4.37% of total revenue, an increase from 3.50% in 2020[119]. - R&D expenses rose by 49.53% to ¥58,206,236.92, driven by increased R&D investment and personnel[105]. - The company has been recognized as a "High-tech Enterprise" and has accumulated a strong customer base, including major brands like Apple, HP, Dell, Huawei, and Samsung[58]. - The company actively engages in new product development and technology research to meet evolving customer demands and market trends[75]. Risks and Challenges - The company faces risks related to economic fluctuations and changes in industry policies, which could impact demand for its products in consumer electronics and new energy vehicles[10]. - The company anticipates that global economic instability and geopolitical conflicts may lead to reduced industry demand, affecting its operational performance[10]. - The company has identified a risk of talent shortages as it continues to grow rapidly, necessitating more management and technical personnel[10]. - The company is experiencing increased operational costs due to expanded production scale and investments in facilities and equipment[7]. - The company reported a net loss of ¥46,386,478.50 from Changzhou Weizhou Technology, indicating challenges in the micro lithium-ion battery segment[195]. Customer and Supplier Relationships - The company operates a direct sales model, signing framework agreements with long-term clients to establish key terms such as pricing and delivery[66]. - The company has established stable partnerships with high-end clients including Apple, HP, Dell, Huawei, Microsoft, Samsung, Lenovo, and ASUS, enhancing its market reputation[84]. - Total sales amount from the top five customers reached ¥1,043,802,086.44, accounting for 78.40% of the annual total sales[100]. - The largest customer contributed ¥345,368,700.27, representing 25.94% of the annual sales[100]. - Total procurement amount from the top five suppliers was ¥475,541,345.95, which is 50.36% of the annual total procurement[103]. Investment and Financing - The company raised a total of ¥43,435.1 million through its initial public offering, with ¥6,730.89 million utilized so far[136]. - The company has not changed the purpose of any raised funds during the reporting period[136]. - The total amount of unused raised funds is ¥40,484.18 million, which is currently deposited[136]. - The cash flow from financing activities increased to CNY 481,724,500, a growth of 367.74% compared to CNY 102,989,700 in the previous year[87]. - Cash and cash equivalents increased significantly by 422,339,477.61, reversing a previous decrease of -10,729,795.45[120]. - Cash and cash equivalents increased to ¥483,797,540.28, making up 26.77% of total assets, due to the initial public offering[124]. - Short-term borrowings increased to ¥239,830,564.95, representing 13.27% of total assets, due to additional bank loans[124]. - The company reported a decrease in long-term borrowings to ¥28,000,000.00, accounting for 1.55% of total assets[124]. Strategic Focus - The company plans to enhance its product matrix in the consumer electronics sector, focusing on expanding production capacity and improving efficiency to meet customer demands[198]. - In the power and energy storage sector, the company aims to develop precision components, targeting a market expected to grow significantly over the next 5-10 years, positioning it as a key growth driver[199]. - The company is concentrating resources on the micro lithium-ion battery business, emphasizing technological innovation and market expansion to meet customer needs[199]. - A long-term employee incentive mechanism is being established to retain core talent and attract external expertise, aligning interests among shareholders, the company, and key personnel[200]. - The company is focused on expanding its market opportunities and cultivating new business growth points in response to complex external environments[198]. - The company aims to strengthen cooperation with major clients in the power and energy storage battery sector to drive future growth[199].

Financial Performance - The company's revenue for Q1 2022 was ¥317,744,266.21, a decrease of 1.40% compared to ¥322,264,039.07 in the same period last year[1] - Net profit attributable to shareholders was ¥52,835,999.47, representing a 33.87% increase from ¥39,468,052.42 year-on-year[1] - Basic earnings per share rose to ¥0.13, an 18.18% increase from ¥0.11 in the same period last year[1] - Total operating revenue for the current period is ¥317,744,266.21, a decrease of 1.6% from ¥322,264,039.07 in the previous period[51] - Net profit for the current period is ¥52,835,999.47, an increase of 33.9% from ¥39,468,052.42 in the previous period[62] - Basic earnings per share for the current period is ¥0.13, up from ¥0.11 in the previous period, indicating a growth of 18.2%[62] - The total comprehensive income for the current period is ¥52,834,306.36, compared to ¥39,471,825.15 in the previous period, indicating an increase of 33.8%[62] Cash Flow - The net cash flow from operating activities reached ¥75,227,105.05, a significant increase of 1,598.24% compared to -¥5,021,044.29 in the previous year[1] - Cash flow from operating activities for the current period is ¥75,227,105.05, a significant improvement compared to a negative cash flow of -¥5,021,044.29 in the previous period[65] - The company reported a net cash inflow from investment activities of ¥3,576,194.04, down from ¥4,082,202.49 in the previous period[65] - Net cash flow from investing activities was -$29,795,885.20, a decrease from -$48,668,857.26 in the previous period[68] - Cash inflow from financing activities totaled $55,492,859.52, down from $115,932,088.91 year-over-year[68] - The net cash flow from financing activities was -$99,832,250.94, contrasting with a positive $44,364,774.37 last year[68] - The net increase in cash and cash equivalents was -$54,385,967.39, compared to -$9,091,973.23 previously[68] - The ending balance of cash and cash equivalents was $423,119,864.92, down from $46,074,381.47 in the last period[68] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,697,484,737.40, a decrease of 6.07% from ¥1,807,174,079.13 at the end of the previous year[1] - The company's equity attributable to shareholders increased by 4.68% to ¥1,197,312,331.97 compared to ¥1,143,796,678.53 at the end of the previous year[1] - The total assets of Suzhou Wanxiang Technology Co., Ltd. decreased from CNY 1,807,174,079.13 at the beginning of the year to CNY 1,697,484,737.40 by the end of the reporting period, representing a decline of approximately 6.09%[13] - The company's cash and cash equivalents decreased from CNY 483,797,540.28 to CNY 429,233,964.92, a reduction of about 11.29%[13] - Accounts receivable decreased from CNY 445,448,617.56 to CNY 413,865,567.64, reflecting a decrease of approximately 7.09%[13] - Inventory levels decreased from CNY 225,656,442.55 to CNY 203,661,282.66, indicating a decline of about 9.73%[13] - Current liabilities decreased from CNY 550,875,031.55 to CNY 417,405,252.95, a reduction of approximately 24.19%[16] - The total liabilities decreased from CNY 663,377,400.60 to CNY 500,172,405.43, representing a decline of about 24.59%[32] - The company's retained earnings increased from CNY 287,142,217.49 to CNY 339,979,301.76, an increase of approximately 18.43%[45] - The total equity attributable to shareholders increased from CNY 1,143,796,678.53 to CNY 1,197,312,331.97, reflecting an increase of about 4.67%[46] - The company reported a significant reduction in short-term borrowings from CNY 239,830,564.95 to CNY 171,683,441.64, a decrease of approximately 28.5%[16] Research and Development - Research and development expenses increased by 37.11% to ¥19,468,454.78, driven by higher investment in R&D and an increase in personnel[6] - Research and development expenses for the current period are ¥19,468,454.78, an increase of 37.4% from ¥14,198,699.52 in the previous period[58] Other Information - The company received government subsidies amounting to ¥3,493,431.07 during the reporting period[5] - The company has not reported any new product developments or market expansion strategies during this reporting period[12] - The first quarter report was not audited[69]