Financial Performance - Operating revenue for the first quarter of 2022 was RMB 107,041,110.52, down 8.91% from RMB 117,507,725.67 in the same period last year[14] - Net profit attributable to shareholders for the first quarter of 2022 was a loss of RMB 4,983,032.78, an improvement of 28.47% compared to a loss of RMB 6,966,617.77 in Q1 2021[14] - Total revenue for the reporting period reached 70,737,122 yuan, representing a 46.14% increase compared to the previous year[21] - The company reported a net profit of 1,396,080 yuan, with a significant increase from the previous period[21] - Total operating revenue for Q1 2022 was 23,046,948.86, a decrease from 44,217,208.25 in Q1 2021, representing a decline of approximately 48%[42] - Total operating costs for Q1 2022 were 112,949,478.41, down from 125,348,587.79 in Q1 2021, indicating a reduction of about 10%[38] - Net profit for Q1 2022 was -4,983,032.78, compared to -6,966,617.77 in Q1 2021, showing an improvement of approximately 29%[39] - Basic earnings per share for Q1 2022 was -0.03, compared to -0.05 in Q1 2021, reflecting a 40% improvement[40] - Operating profit for Q1 2022 was -4,933,913.45, an improvement from -7,096,893.08 in Q1 2021, indicating a reduction in losses of approximately 30%[38] - Total profit for Q1 2022 was -4,791,407.87, compared to -7,100,298.82 in Q1 2021, showing a reduction in losses of approximately 32%[38] Cash Flow and Liquidity - The net cash flow from operating activities for the first quarter of 2022 was a negative RMB 96,416,292.30, a decline of 57.69% compared to negative RMB 61,141,064.49 in the same period last year[14] - Cash received from sales of goods and services in Q1 2022 was 96,808,113.54, down from 139,109,834.32 in Q1 2021, a decline of about 30%[45] - Total cash inflow from financing activities was 18,300,000.00, down from 26,937,149.79 in the previous period, reflecting reduced borrowing[47] - Cash outflow for operating activities totaled 197,528,998.20, compared to 213,015,768.72 previously, showing a slight decrease in cash expenses[46] - The ending cash and cash equivalents balance was 29,391,012.61, down from 18,506,416.03 in the previous period, indicating a decrease in liquidity[47] - Cash inflow from sales of goods and services was 29,200,636.59, compared to 47,176,175.08 in the previous period, showing a decline in revenue generation[49] - Cash outflow for purchasing goods and services was 53,152,109.33, significantly higher than 26,726,298.99 in the previous period, indicating increased operational costs[49] - The total cash inflow from operating activities was 49,632,221.11, down from 62,723,123.89 in the previous period, reflecting a decrease in operational efficiency[49] Assets and Liabilities - Total assets as of March 31, 2022, were RMB 480,007,446.89, a decrease of 7.27% compared to RMB 517,627,562.95 at the end of 2021[14] - The company's total liabilities to total assets ratio (consolidated) improved to 30.67% from 34.72% year-over-year[14] - Total current assets decreased to 450,243,860.11 yuan from 489,190,894.33 yuan year-over-year[29] - Accounts receivable increased to 193,676,483.19 yuan, up from 174,857,977.79 yuan year-over-year[29] - Inventory levels were reported at 163,213,669.20 yuan, slightly up from 161,671,086.11 yuan in the previous year[29] - Current liabilities increased from ¥176,637,169.14 to ¥143,646,994.88, a decrease of about 18.69%[30] - Non-current liabilities decreased from ¥3,555,261.06 to ¥3,096,711.89, a reduction of approximately 12.92%[31] - Total liabilities decreased from ¥179,733,881.03 to ¥147,202,255.94, a decline of about 18.14%[31] - Total equity decreased from ¥337,893,681.92 to ¥332,805,190.95, a decrease of approximately 1.28%[31] Shareholder Information - The number of shareholders holding more than 5% of shares includes Dai Fuhao with 22.14% and Cui Zhenying with 6.34%[20] - The registered capital of the company is RMB 153,333,497[12] Commitments and Transactions - The company has no significant litigation or arbitration matters pending during the reporting period[24] - There were no external guarantees or loans provided during the reporting period[24] - The company has fulfilled all previously disclosed commitments in a timely manner[24] - No major related party transactions were reported during the period[24] - The company did not implement any profit distribution or capital increase from reserves during the reporting period[25] Other Financial Metrics - Non-recurring gains and losses for the first quarter amounted to RMB 117,611.53 after tax[17] - Development expenditures increased significantly from ¥239,175.53 to ¥2,532,809.74, an increase of approximately 958.73%[30] - Research and development expenses for Q1 2022 were 3,784,257.27, down from 5,737,010.71 in Q1 2021, a decrease of about 34%[38] - Financial expenses for Q1 2022 were 364,740.82, significantly lower than 1,030,327.20 in Q1 2021, a decrease of about 65%[38] - Other income for Q1 2022 was 1,441,887.37, an increase from 819,447.79 in Q1 2021, representing a growth of approximately 76%[38]

Company Overview - The company was listed on the Beijing Stock Exchange on November 15, 2021, becoming one of the first companies to do so[5]. - The company is recognized as a "Little Giant" enterprise in Beijing, highlighting its specialized and innovative capabilities[6]. - The company is recognized as a national high-tech enterprise and focuses on digital display and virtual reality technology development[54]. - The company has three wholly-owned subsidiaries and two wholly-owned grand-subsidiaries, focusing on various sectors including education and financial exhibition[93]. Financial Performance - The company's operating revenue for 2021 was CNY 566,865,994.35, representing a 17.32% increase compared to CNY 483,167,100.82 in 2020[36]. - The net profit attributable to shareholders for 2021 was CNY 26,171,962.16, a decrease of 4.65% from CNY 27,447,495.53 in 2020[36]. - The total assets increased by 9.36% to CNY 517,627,562.95 at the end of 2021, up from CNY 473,335,114.82 at the end of 2020[38]. - The total liabilities decreased by 19.65% to CNY 179,733,881.03 at the end of 2021, compared to CNY 223,679,904.49 at the end of 2020[38]. - The company's gross profit margin for 2021 was 17.18%, down from 20.45% in 2020[36]. - The weighted average return on equity for 2021 was 9.07%, down from 11.64% in 2020[36]. - The company's cash and cash equivalents increased by 39.98% to 116.16 million yuan, up from 82.99 million yuan in the previous year[74]. - The company's contract liabilities surged by 1,235.84% to 35.62 million yuan, compared to 2.67 million yuan in the previous year[74]. - The company reported a significant increase in financing cash flow, which rose by 121.47% to ¥44.85 million due to funds raised from the IPO[92]. Research and Development - The company has accumulated nearly 200 patents and copyrights, demonstrating strong R&D and innovation capabilities in the industry[56]. - R&D expenses for 2021 amounted to 19.25 million yuan, representing a year-on-year growth of 12.91%[70]. - The total R&D expenditure for the company is ¥15,433,482.91, indicating a strong commitment to innovation and technology development[182]. - The company has established a VR research institute to enhance R&D capabilities and drive technological breakthroughs, aiming to solidify its leading position in the industry[116]. - The total R&D expenditure for the top five projects amounted to ¥13,903,847.29, with the largest project being the "Intelligent Display SaaS Application Technology Research" at ¥2,165,895.20[182]. Market Position and Strategy - The company is experiencing intensified market competition in the digital visual solutions sector, necessitating continuous innovation and strategic planning[17]. - The company is focusing on the "VR + education" sector, leveraging advancements in VR technology and 5G to build an XR education cloud platform[65]. - The company has developed over 60 standardized digital interactive solution products to enhance project design efficiency and reduce implementation costs[63]. - The company has established strategic partnerships with leading hardware suppliers to ensure stable supply and technical security for its solutions[54]. - The company is actively exploring the application of LED and VR technologies in cinema scenarios to prepare for future business expansion[62]. Awards and Recognition - The company received several awards, including the 6th Golden Gyro Award for the "BJBVR Smart Classroom" and the AR/VR Innovation Award for the "VR Party Building Learning Machine"[7][8]. Risks and Challenges - The company faces risks from the ongoing COVID-19 pandemic, which has affected project execution and acceptance[17]. - The company is actively addressing risks related to the ongoing COVID-19 pandemic, market competition, and technological development to maintain its competitive edge[120][121]. Shareholder Information - The company has a total share capital of 153,333,497 shares, with no preferred shares issued[30]. - The actual controllers of the company are Dai Fuhao and Cui Zhenying, with no concerted actions among other parties[30]. - The top ten shareholders collectively hold 70,767,325 shares, representing 46.15% of the total share capital[149]. - The controlling shareholders, Dai Fuhao and Cui Zhenying, hold a combined 43,660,303 shares, accounting for 28.47% of the total[150]. Legal Matters - The company has faced litigation with a cumulative amount of 3,918,688 yuan, representing 1.15% of the net assets at the end of the reporting period[128]. - The company is involved in a significant lawsuit regarding a sales contract with a claim amount of ¥8,605,496.74, which represents 2.54% of the company's net assets as of the reporting date[130]. - The lawsuit was initiated in October 2020, and the court hearing took place on November 19, 2020, but the case is currently in a suspended state due to certain circumstances[131]. - The company has successfully applied for the continuation of asset preservation related to the lawsuit, which was completed on September 22, 2021[131]. Employee Information - The total number of employees decreased from 208 to 183, with a net reduction of 51 employees during the reporting period[169]. - The management personnel count decreased from 23 to 20, while sales personnel decreased from 52 to 41[169]. - The company maintains a competitive and fair employee compensation policy, linking salaries to performance[170]. - The total number of independent directors remains unchanged at 3[168]. Corporate Governance - The company has not identified any major deficiencies in its internal management systems during the reporting period[188]. - The company has revised its articles of association twice during the reporting period, reflecting ongoing governance improvements[193]. - The company has established a standardized investor relations management system to protect shareholders' rights and ensure equal treatment[190]. - The company has complied with legal requirements for the convening and voting procedures of shareholder meetings, board meetings, and supervisory meetings[198].