Shandong Kehui Power Automation Co., Ltd. 2021 annual report Abstract


Company code: 688681 Company abbreviation: Kehui shares

Section 1 important reminder

1 The summary of this annual report comes from the full text of the annual report. In order to fully understand the company’s operating results, financial status and future development plans, investors should read the full text of the annual report on the Shanghai Stock Exchange website ( website.

2 Major risk reminder

The company has elaborated the various risks that the company may face in the process of production and operation in this report. Please consider the “risk factor” of “Section III Management Discussion and Analysis”. Investors are advised to pay attention to investment risk.

3 The board of directors, board of supervisors, directors, supervisors, and senior management of the company ensure the authenticity, accuracy, and integrity of the annual report content. There are no false records, misleading statements or major omissions, and bear individual and joint legal responsibilities.

4 All directors of the company attended the board meeting.

5 Lixin Accounting Firm (Special Ordinary Partnership) issued audit reports with standards without reservation for the company.

6 The company is not profitable and has not yet achieved profitability

□ Yes √ No

7 The profit distribution plan or the provident fund transfers of this reporting period decided by the Board of Directors

After the audit of Economic Credit Accounting Firm (Special Ordinary Partnership), as of December 31, 2021, the company’s net profit attributable to the owner of the parent company was RMB 54,617,572.85, and the parent company achieved net profit of 46,358,854.94 yuan. The profit is 214,007,401.59 yuan. On April 19, 2022, the company held the twenty -first meeting of the third board of directors and the 17th meeting of the 3rd Supervisory Board to review and approve the “Proposal on the Company’s 2021 Malisming Distribution Plan”. The total equity registration date of the equity registration date is the base allocation of profits, and the cash dividend of 1.2 yuan (tax) is distributed every 10 shares of the shareholders. As of December 31, 2021, the company’s total share capital was 104,670,000 shares. In this way, the total cash dividend was assigned a total cash dividend of 12,560,400.00 yuan (including tax), accounting for 23.00%of the company’s net profit of the company’s 2021 merger. The company does not conduct capital provident funds to increase the share capital and does not send red shares. The profit distribution plan needs to be submitted to the shareholders’ meeting for review.

8 Whether there are important matters such as company governance special arrangements

□ Applicable √ Not applicable

Section 2 The basic situation of the company

1 company profile

Company stock brief

√ Applicable □ Not applicable

Simplicity of company deposit vouchers

Contact and contact information

2 Reporting period The company’s main business profile

(1) Main business, main products or services

1. Main business

The company’s main business is the development and industrialization of electrical automation technology and industrial Internet of Things technology. During the reporting period, the main products include smart grid failure monitoring and automation products, and switching magnetic resistance motor drive system products, which are the main source of income.

At the same time, the company also actively deployed products such as the user -side power storage and low -voltage power IoT.

2. Main products and services

(1) Smart grid failure monitoring and automation products

The company’s smart grid fault monitoring and automation products are the secondary equipment of the power system, which are mainly used in the transmission and power distribution links, and realize the online monitoring, early warning and positioning of UHV and ultra -high -voltage transmission grids and power distribution line failures; realize the distribution network network. Protect control and automation, isolation in the fault section and restore power supply in non -failure sections, enhance the “self -healing ability” of the distribution network, reduce electric shock and electrical fire accidents; realize the offline automatic fault ranging and positioning of power cables.

The company’s smart grid failure monitoring and automation products have the level and characteristics of the Internet of Things and other IoT levels such as perception and control, communication network, and platform services. They mainly serve the power industry and railway system. , Power system synchronization clock, power cable failure detection and positioning device.

1) The transmission line wave product is used in the long -distance overhead transmission lines of 110kV and above voltage levels to achieve accurate positioning of faults.

2) The automation network automation products include the automation terminal of the power distribution network, the integrated into the pillar switch and the small current connecting the ground failure line and protection device, and realize the real -time monitoring, protection and control of the distribution network. After the company promotes the automation grid automation technology to the railway system, the railway power automation integrated product formed to achieve the monitoring and protection of the railway power grid.

3) Power system synchronization clock products provide time services for all automation fields of power systems. By receiving Beidou and GPS system signals and ground link signals, they provide a unified and high -precision time benchmark to ensure that the power system automation equipment transmission information, and information, Analyze the accuracy of information, release and execute instructions.

4) Power cable failure detection and positioning device is used to monitor the distance ranging and positioning of DC power cable lines, vehicle overhead mixing lines, and DC sea cable lines.

(2) The product of the switching magnetic motor drive system

The driver system of the switching magnetic resistor is a combination of switching magnetic resistance motor and driving controller, which is a new energy -saving technology electromechanical product. This product has the characteristics of wide speed regulation range, large starting torque, and small starting current, especially in the scenes such as frequent start -up, upset switching, and reloading. Its motor structure is solid and reliable, and it is more adaptable to the harsh working environment.

The company’s switching magnetic motor driving system products serves many industries such as textiles, forging, coal mines, petroleum petrochemicals.

(2) The main business mode

1. Procurement mode

Procurement demand is mainly depends on the sales contract and bidding. For some raw materials with long ordering cycles and large amounts of dosage, it is prepaid in advance according to the annual and monthly procurement plan. During the reporting period, the company’s procurement method is mainly to inquire about procurement, bidding, procurement, orientation negotiations. Among them, the bidding procurement method is adopted for bidding and procurement for the auxiliary materials with a large amount of universal materials, large amounts and more than 100,000 yuan.

The company’s raw material procurement work is mainly completed by the procurement department, and uses the ERP system and the “one -collection” system to manage the procurement process, including the establishment of a qualified supplier list and supplier selection, procurement contract information management, storage and acceptance.

2. Production mode

At present, the company mainly implements a “sales -based production” production model, that is, the company’s products mainly rely on independent R & D and production according to the sales contract, bidding bidding and bidding bids, and combined with customer needs. The company’s product production work is mainly led by the production department and uses the ERP system to manage the production process.

3. Sales mode

During the reporting period, the company’s products are mainly direct sales models, and a small number of overseas sales business is completed by local agents. Some products need to provide customized technical support and fast and timely after -sales service. The use of the direct sales model can understand the product market trend and customer needs more directly, timely, and objectively. The company’s main customer groups are power systems, railway systems, textile machinery, forging machinery and petroleum machinery manufacturing industries. The power system is mainly the national power grid and the southern power grid provinces and county power grid companies. The railway system is mainly China Railway, China Railway Construction and subordinate engineering bureaus. This type of customers mainly purchase material procurement through public bidding. Therefore, the company mainly participates in participating in participation Bidding for this type of sales business. In addition, the company will also obtain sales business orders through participating in competitive negotiations and customers directly placing orders.

According to customer needs, the Ministry of Engineering is responsible for the installation, commissioning and customer technical training of partial customized products.

The company has set up sales points in Shandong, Beijing, Shanghai, Guangdong, Sichuan, Guizhou and other places, responsible for sales, market development and customer maintenance in their respective areas. For a small part of the demand for overseas markets, the company’s international department’s business department is responsible for sales promotion, customers Management and other work.

4. R & D model

The company consists of senior technical experts such as Xu Bingzhang Xu Bingyi and the technical leaders of various business departments, and is responsible for the overall research and development strategic direction, industry and application development trends, technical paths and technical difficulties, existing product upgrade direction, etc. Sexual analysis predicts the strategic positioning and top -level design of the company’s research and development. At various key stages, the technical committee will organize R & D personnel to conduct full technical review and demonstration, and implement strict reliability tests or third -party testing.

According to the main business category, the company’s R & D system is divided into smart grid fault monitoring and automation sectors and switch magnetic resistance motor drive system sectors. 15 research institutes are set up in different R & D directions. Essence

(3) The industry situation

1. The development stage, basic characteristics, and main technical thresholds of the industry

(1) The industry is located

The company belongs to the electrical machinery and equipment manufacturing industry. The products are divided into two major sections: smart grid failure monitoring and automation, switching magnetic resistance motor drive system. The subdivided industries are transmission and distribution and control equipment manufacturing and motor manufacturing. According to the “Classification Guidelines for the Listed Companies Industry (Revised in 2012)” promulgated by the China Securities Regulatory Commission, the company’s main business belongs to “C38 electrical machinery and equipment manufacturing”; according to the classification and code of the national economic industry (GB/T4754-2017), The industry’s industry belongs to “C382 Power Transmission and Power Management and Control Equipment Manufacturing”.

(2) Industry development stage and basic characteristics

1) Intelligent grid failure monitoring and automation industry development stage and basic characteristics

Based on the traditional power system, the smart grid is a new generation of power system formed by integrating new energy, new materials, new equipment and advanced sensing technology, information technology, control technology, and energy storage technology. , Automation, interactive and other characteristics, can better achieve the security, reliable, economical, and efficient operation of the power grid.

my country’s power installed capacity and power line length have ranked first in the world, and have achieved great achievements in power construction. The power grid is still being developed and improved. In particular, the connection of new energy power, the optimization allocation and data through the power grid operation, the data of data penetration, sharing, and the ability to improve the “self -healing” of the power grid have made the construction of smart grids rising to the national strategy, and the investment scale has gradually expanded.

In the long run, my country’s power grid engineering investment has maintained an upward trend. From 2009 to 2020, the total investment of the State Grid reached 3.45 trillion yuan, of which intelligent investment reached 384.1 billion yuan, accounting for 11.1%of the total investment of the power grid. During the period, the scale of investment in my country’s power grid industry will reach 6.12 trillion yuan, and the proportion of smart grids will also increase.

Intelligent grid fault monitoring and automation products belong to the secondary equipment of power. According to public data statistics, the proportion of secondary equipment investment in power grid in each year is not less than 10%. Therefore, the investment growth of smart grids will drive the market for the secondary equipment of the power power Growth.

2) The industry development stage and basic characteristics of the switch magnetic resistance motor drive system

The switching magnetic motor drive system is a type of high -efficiency energy -saving motor. Economic developed countries’ research on the driving system of the switching magnetic motor driving system started earlier, and the product power level covered a wide range. From several tiles to hundreds of kW, the product stability was relatively better. Multifunctional food cooking machines produced by Germany Fvik, the Vacuum cleaner produced by the British Dyson, the main power system of the fourth-generation fighter F-35 in the United States, and the hybrid vehicles produced by Toyota, Japan, use switch magnetic resistance motor drive systems. As its power -driven system. Although China’s research on the driver system of the switching magnetic motor motor motor starting is relatively late, the starting point is high. At present, the advantages of the switching magnetic motor motor drive system are gradually recognized by the market, but due to the technical threshold, the current domestic product research and development and production of the product is currently engaged in the research and development and production of the product. There are fewer companies.

According to the “Electric Efficacy Promotion Plan (2021-2023)” jointly issued by the General Office of the Ministry of Industry and Information Technology and the General Office of the General Administration of Market Supervision, guide enterprises to implement key energy equipment updates and upgrades of key energy equipment such as motor, prioritize energy-saving motors to speed up elimination A backward inefficient motor that does not meet the current national energy efficiency standards. By 2023, the annual output of high -efficiency energy -saving motors will reach 170 million kilowatts, and the proportion of high -efficiency energy -saving motors in service will reach more than 20%, achieving an annual power -saving power of 49 billion kilowatt -hours, which is equivalent to about 15 million tons of standard coal for annual festivals and 28 million tons of carbon dioxide reduction. Essence

On December 9, 2021, the Department of Energy Conservation and Comprehensive Utilization of the Ministry of Industry and Information Technology announced the “Recommended Catalog of Energy Conservation Technology of Industrial Industrial (2021)”. The purpose is to accelerate the application of advanced and applicable energy -saving technologies, equipment and products, promote energy conservation and energy efficiency in the field of industrial and informatization, and help achieve carbon peaks, carbon neutrality. The “switching magnetic resistance motor driving system technology” declared by the company is listed as “energy -saving and efficient technology for national key energy equipment systems.”

As an efficient energy -saving motor, the switching magnetic resistance motor is still in the process of gradually replacing traditional motors, helping the country’s “dual carbon” strategic goal. The space is vast.

(3) Main technical threshold

1) Smart grid fault monitoring and automation products main technical threshold

Smart grid failure monitoring and protection control technology covers a comprehensive application of multi -disciplinary knowledge and experience in multi -disciplinary knowledge and experience in modern microelectronics technology, computer technology, automatic control technology, and Internet of Things technology. The company has made outstanding contributions in technology research and development in the 30 years of deep cultivation in the industry, including the realization of the transmission line wave ranging technology from theoretical to practice. The earliest digital power cable fault ranging meter has been developed in China, which solves the power system relay electrical electrical electrical electrical electricity. The problem of single -phase small current land faults that have been mentioned in the protection textbooks and long -term trouble in the power industry have always maintained continuous innovation.

Intelligent grid fault monitoring and automation products have high requirements in terms of fault ranging accuracy, failure of fault selection, response speed, operational safety, and the degree of automation of protection. The construction of smart grids needs to continuously adapt to the development of the situation, and its demand is continuously increasing. At the same time, the progress of the times has brought new technologies such as big data, cloud computing, 5G, and artificial intelligence. Applications and integration have been continuously improved.

□ Applicable √ Not applicable

Smart grid fault monitoring and automation products need to have a certain forward. The company has formed a good cooperation and trust relationship with customers such as the China Power Grid and the Southern Power Grid. It participates in technology research and development technology projects through bidding. And provide technical support for products that are expected to become a key technical direction within 3-5 years.

2) The main technical threshold of the switching magnetic resistance motor drive system

Switch magnetic resistance motor drive system products are suitable for special scenarios such as frequent starting, frequent positive reversal, and re -loading. It consists of two parts: switch magnetic resistor and driver controller. It is a typical mechanical and electrical integration product. The technical difficulty of the switching magnetic motor motor is the dual -convex structure of the motor, the inductive saturation is not linear, and the conventional motor electromagnetic computing software is difficult to perform accurate calculation; Research and application of advanced control strategies. After years of research and development, the company has broken through key technologies such as electromagnetic parameters, structural slots, and torque pulse suppression. At present, the largest rated power has reached 630kW. The product saves energy consumption and improves the efficiency of the equipment.

2. Analysis of the industry status and changes in the company where the company is located

(1) The company’s technical level is at the forefront of the industry.

After years of technical research and development accumulation of the company’s core technology team, the company has a total of 61 patents authorized in 2021, of which 43 invention patents. This year, 15 patents (including 7 invention patents) were applied to, and 5 newly used new patent authorizations and 5 software copyright registration were added.

1) In the company’s intelligent grid failure monitoring and automation products, in terms of the failure positioning accuracy of overhead transmission lines and power cable lines, it is similar to that of domestic companies and foreign Qualitrol as a whole. The above -mentioned domestic and foreign companies’ products are mainly used for overhead transmission lines. The company’s cable line failure positioning and detection devices have a relatively obvious market advantage.

The main indicators such as the time synchronization accuracy of the company’s power system synchronization time products are equivalent to related products related to first -line companies at home and abroad in the same industry. In terms of synchronization and electromagnetic compatibility with anti -interference capabilities, it is stronger than foreign company products.

The company’s distribution network automation terminal products are slightly better than domestic companies in the same industry in terms of testing methods, measurement scope, and measurement accuracy. They are similar to foreign front -line manufacturers such as Siemens, ABB, Schneider, etc., to reach the technical level of foreign front -line manufacturers. The company’s technical characteristics are that the small current fault selection and protection of the small current principles can be used independently, or it can be integrated in the power distribution network automation terminal product. Good security and low cost, which is of great significance for reducing electric shock and electrical fire accidents during the operation of the power distribution network.

2) The company’s switching magnetic resistance motor drive system products are at the leading level in the industry in many aspects such as power coverage, application scenarios, and market sales; Related products won the second prize of science and technology progress in Shandong Province. At present, the company has an annual production capacity of 500,000 KW of the switching magnetic resistance motor drive system. The products are used in industries such as forging, textiles, coal mines, oilfields and other industries and sold them to India and the United States. It is the forefront of the industry in terms of downstream market application expansion. The company’s independently developed 630KW motor with the largest single -machine power at home and abroad is equipped with a 8000T electric spiral pressure machine, which is used in large -scale high -end manufacturing equipment such as aviation forging and automobile manufacturing.

The company actively conducts research on the synchronous magnetic resistance motor drive system. Synchronous magnetic motor structures are simple, highly reliable, and low manufacturing costs, while its power density and efficiency are significantly higher than asynchronous motors. The energy saving effect is better than asynchronous motor. It is in line with the national dual carbon strategic goals. New direction of high -efficiency motor. The synchronous magnetic resistance motor and switch magnetic resistance motor follows the principle of “minimum magnetic resistance”. The company will make full use of the research and development experience on the switching magnetic resistance motor, further increase the input of synchronous magnetic resistance, and maintain the company’s magnetic resistance motor business in the magnetic resistance motor business The leading position.

3) Actively open up new energy business centered on user -side energy storage

Based on the precipitation of low -voltage power IoT technology, the company has developed a user -side energy storage control system to achieve the implementation of the user side energy storage operation technology. Systems, energy storage cabinets, variables and control devices in the complete energy storage product line are strengthened to strengthen technical characteristics such as optimization operation, island operation, and uninterrupted power supply on the user side energy storage.

(2) The company’s products have been recognized by large downstream customers, and have established a stable cooperative relationship

The main customers of the company’s smart grid fault monitoring and automation system include the national power grid, the Southern Power Grid company, and also covers multiple industries such as railway, petrochemical, and coal mines. Customers in industries such as textile machinery. The company has established a sufficient trust relationship with major customers, and has maintained close technical exchanges and cooperation with customers.

3. During the reporting period, the development of new technologies, new industries, new formats, new models and future development trends

(1) During the reporting period

1) Application of 5G new technology

The construction of the 5G network provides a flexible, efficient, safe and reliable wireless access channel for various monitoring and monitoring systems for power automation, and realizes the flexible use of low latency, large bandwidth, and massive connections. Differential protection, distributed power access control, etc. For production control business with high delay requirements, high -definition video surveillance, drone inspection, maintenance training and other mobile application business with high bandwidth, as well as information perception Collection, management and status monitoring, energy consumption management and other business that requires massive connections are all application scenarios of 5G new technologies. It supports the construction goals of smart grid status holographic perception, comprehensive data connection, business online, and new experience in service.

The company currently uses 5G new technology distribution network automation terminal products has been promoted and applied in multiple electricity companies. The new products are small, low -delay, high reliability, and compared to wired networks such as fiber. The construction cost reduces the difficulty of maintenance.

2) The edge computing function of the Electric Power Internet of Things

Smart grids are also power IoT, which is widely connected to distributed energy, connecting massive equipment, transmitting massive heterogeneous data, cloud computing architecture and big data technology to solve the constraints of storage resources, computing restrictions, and network communication costs, but cloud computing is cloud computing The characteristics of centralized management and central system processing and distribution are prone to reaction delay. Smart terminal devices that are closer to the edge of the network and have edge computing functions have provided the power IoT to provide a solution to reduce delay and improve scalability. It is an important part of the 5G era power IoT.

The company’s distribution network automation terminal device has the edge computing function, enhances the self -healing ability of the power grid and the timeliness of control protection, adopts topology recognition technology, makes self -judgment in the local area network, actively adopts control protection measures Power -free lines are powered, and the processing results are reported to the main station. The edge computing function involves network security issues. The company uses technologies such as authentication, semantic security, and encryption measures to ensure that communication is not subject to external attacks and interference.

3) Automation and intelligence

With the widespread application of information technology, Internet of Things technology, and flexible power electronics equipment, the grid will be more automated and intelligent.

The company’s smart grid fault monitoring and automation product focus on launching smart fully automatic cable fault ranging measuring (T-907), a new generation of intelligent fault fixed-point instruments (T-506), fully automatic intelligent cable failure test vehicle (T-20000 ) The other series of products change the shortcomings of the past cable failure test and manual analysis of faulty waveforms. The product use is more convenient, and the safety and reliability have been further improved.

4) Power integration for one or two equipment

The development of smart grids will promote the large integration of primary and secondary equipment to develop large -scale equipment such as high -efficiency cleaning thermal power, hydropower, nuclear power, and transmission and transmission. Through fusion, it can provide customers with integrated overall solutions.

The company’s power distribution network automation terminal is actively integrated with the primary and secondary equipment of the equipment manufacturer with the power manufacturer. It has achieved short -circuit faults and small current faults. The project was selected as one of 25 typical experiences by the best practice and typical experience seminar for the 2019 National Power Network distribution network dispatch management.

(2) During the reporting period, the development of the magnetic resistance motor driving system industry in the aspects of new technology, new industries, new formats, and new models and future development trends

1) Synchronous magnetic resistance motor drive system

According to the country’s “double carbon” strategic goals, the development of high -energy -effective standards and its control systems has been urgent. At present, the main technical routes of high -efficiency energy -saving motors are AC asynchronous motors and permanent magnet synchronous motors. The power density density and motor efficiency of the AC asynchronous motor are relatively low. Synchronous magnetic motor structure is simple, high reliability, low manufacturing costs, although the power density and efficiency are slightly lower than the permanent magnet motor, it is significantly higher than the asynchronous motor, and does not use permanent magnets. Direction of development. In the future, the synchronous magnetic motor will stand with the permanent magnet synchronous motor and asynchronous motor.

The company launched the research and development of synchronous magnetic resistance motors and cooperated with Shandong University in 2017. It has recently made breakthrough progress. The synchronous magnetic motor motor developed by developed was excellent, stable, and good in consistency.

2) Ultra -power switch Magnetic resistance motor driver system

With the continuous development of the switch magnetic resistance motor drive system and the application of various occasions, the demand for motor capacity has gradually increased. For the design of high -power and large -current switch magnetic resistors, generally requires the driver and protection of multiple IGBT parallel parallel. Technical means. Increased motor capacity will bring a certain amount of loss, which needs to be optimized to reduce the loss by optimizing the motor structure and improve the heat dissipation efficiency of the motor.

The company achieved breakthroughs in key technologies such as IGBT parallel driving and protection of high-power motor controllers. The product power of the high-power switch magnetic resistance motor drive system for production and sales is between 200KW-630KW, which can drive a maximum of 8,000-10,000 tons of pressure. Pressure machine.

3) High -speed switch magnetic resistance motor driver system

In recent years, there have been more and more cases in domestic electrical appliances such as air -conditioning, washing machines, and cooking machines such as high -speed switching motor drive systems in Europe and the United States. In the influence of technical problems, there are fewer related applications.

The company currently has technologies for high -speed switching magnetic resistance motor driving systems, and cooperates with the German Bosch Electric Tool Company in the field of electric tools to explore the application promotion of high -speed occasions such as electric tools, small appliances, and centrifugal machines.

4) Switching magnetic resistance motor vibration and noise reduction technology

In recent years, the switching magnetic resistance motor driver system has continuously improved in the optimization and control of the motor structure. The optimization of the system and control strategy of the motor structure effectively reduced the noise of the motor and improved the stability of the motor operation.

By improving the switch magnetic resistor and controller, the company changes the stator and rotor slot type, which makes the current changes smoother, effectively reducing the vibration and noise of motor when applying for oil machinery such as petroleum machinery.

5) Smart factory solution

The development of Industry 4.0 puts forward intelligent requirements for machinery and equipment. The switching magnetic resistance motor drive system drives the motor through the motor controller. It has the basis of realizing the network, digital, and intelligentization of mechanical equipment, and realizing the motor operation control strategy and equipment IoT Internet of Things Integrated integration, remotely monitor the operation of the motor, and collect and store information data in the production process in the production process of voltage, working current, process parameters, instantaneous energy consumption, product quality, etc., form an integrated cloud storage platform, and use the production enterprise ERP/MES For system interfaces, realize data sharing.

3 Company’s main accounting data and financial indicators

3.1 Main accounting data and financial indicators in the past 3 years

Unit: Currency: RMB

3.2 The main accounting data of the reporting period in the reporting period


□ Applicable √ Not applicable

4 shareholders

4.1 The total number of general shareholders, the total number of shareholders and the total number of shareholders and the total number of shareholders holding special voting rights shareholders and the top 10 shareholders who hold special voting rights

Unit: stock

Staying voucher holder holders

As of the end of the reporting period

√ Applicable □ Not applicable

Unit: stock

4.2 Fragments of the property rights and control relationship between the company and the controlling shareholder

4.3 Fragments of the property rights and control relationship between the company and the actual controller

4.4 The total number of shareholders of the company’s preferred shareholders at the end of the report period and the situation of the top 10 shareholders

5 corporate bond status

Section 3 important matters

1 The company shall disclose major changes in the company’s operation during the reporting period according to the principle of importance, as well as matters that have a significant impact on the company’s operating conditions and expected to have significant impact on the company’s operating conditions during the reporting period.

The company is mainly engaged in the research and development, production and sales of smart grid failure monitoring and automation, switching magnetic motor drive system equipment. In 2021, the company realized operating income of RMB 36,900,900 and realized net profit of RMB 54,61,600.

If the annual report of the company has a warning or termination of the listing risk of delisting, it shall be disclosed why the delisting risk warning or termination of listing shall be disclosed.

Unit: Currency: RMB

□ Applicable √ Not applicable

□ Applicable √ Not applicable

□ Applicable √ Not applicable

□ Applicable √ Not applicable

√ Applicable □ Not applicable

√ Applicable □ Not applicable