Financial Performance - For the first nine months of 2023, the company achieved operating revenue of approximately RMB 2.738 billion, an increase of about 1.25% year-on-year[6]. - The net profit attributable to shareholders for the same period was approximately RMB 650 million, a decrease of about 24.33% year-on-year[6]. - In Q3 2023, the company reported operating revenue of approximately RMB 942 million, a decrease of about 6.00% compared to the same period last year[7]. - The net profit attributable to shareholders in Q3 2023 was approximately RMB 201 million, a decrease of about 38.88% year-on-year[7]. - Operating profit for the first three quarters of 2023 was RMB 664.79 million, down from RMB 888.92 million in the same period of 2022, indicating a decline of approximately 25.3%[19]. - The company's revenue for the first three quarters of 2023 was approximately RMB 2.30 billion, a decrease of 12.24% compared to RMB 2.62 billion in the same period of 2022[21]. - The company incurred a loss of approximately RMB 1.10 billion in the first three quarters of 2023, compared to a profit of RMB 266.31 million in the same period of 2022[21]. Research and Development - R&D expenses for the first nine months of 2023 amounted to approximately RMB 757.83 million, an increase of about RMB 197.93 million compared to the same period last year[9]. - The company’s R&D investment accounted for 30.79% of operating revenue, an increase of 3.96 percentage points year-on-year[4]. - R&D investment increased by 31.56% in the first nine months, driven by the need to enhance core competitiveness through new product and technology development[11]. - Research and development expenses increased to RMB 757.83 million in the first three quarters of 2023, up from RMB 559.90 million in the same period of 2022, marking an increase of approximately 35.4%[19]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 813.39 million, an increase of 33.10% compared to the end of the previous year[5]. - Total assets increased to RMB 8.13 billion from RMB 6.11 billion as of December 31, 2022, representing a growth of approximately 33.2%[17]. - The total liabilities increased to RMB 2.34 billion as of September 30, 2023, from RMB 957.72 million as of December 31, 2022, representing an increase of about 144.5%[18]. - Inventory levels rose significantly to RMB 3.15 billion as of September 30, 2023, compared to RMB 1.48 billion at the end of 2022, reflecting an increase of approximately 112.5%[17]. Earnings Per Share - Basic earnings per share decreased by 37.50% in Q3, mainly due to the drop in net profit[11]. - The company’s basic earnings per share for the first three quarters of 2023 were RMB 0.80, down from RMB 1.05 in the same period of 2022, a decrease of approximately 23.8%[20]. - Diluted earnings per share fell by 40.00% in Q3[11]. Cash Flow - The company's cash and cash equivalents decreased to RMB 737.28 million as of September 30, 2023, from RMB 1.19 billion as of December 31, 2022, a decline of about 38.0%[17]. - The total cash and cash equivalents at the end of the third quarter of 2023 was RMB 727.22 million, down from RMB 875.58 million at the end of the same period in 2022[23]. - The net cash flow from investment activities for the first three quarters of 2023 was negative RMB 378.72 million, compared to negative RMB 200.78 million in the same period of 2022[23]. - The cash flow from operating activities showed a decrease, with a net cash outflow of RMB 393.06 million in 2023 compared to an inflow of RMB 459.83 million in 2022[23]. - The net cash flow from financing activities for the first three quarters of 2023 was RMB 1.10 billion, an increase from RMB 394.34 million in the same period of 2022[23]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 20,310, with the largest shareholder holding 34.80% of shares[12]. - The top ten shareholders collectively hold significant stakes, with the largest shareholder holding 284,197,980 shares[13]. Future Plans - The company plans to continue launching new products and expanding its customer base to address the challenges posed by insufficient demand in certain sectors[8]. - The company plans to continue investing in new technologies and market expansion strategies to drive future growth[19]. - The company is advancing the issuance of convertible bonds, pending approval from the Shanghai Stock Exchange and the China Securities Regulatory Commission[16]. Accounting Standards - The company has implemented new accounting standards starting in 2023, which may affect the financial statements[23].

Incentive Plans - The company granted 1,066,000 restricted shares under the 2021 A-share incentive plan on October 28, 2022, with performance assessment requirements for the years 2022 to 2024[3] - The 2018 equity incentive plan expired on February 13, 2022, and no domestic shares were granted under this plan in the 2022 fiscal year[7] Performance Assessment Requirements - The first vesting period requires a revenue increase of over 65% compared to 2020, and a gross profit increase of over 65% compared to 2020[4] - The second vesting period requires a revenue increase of over 90% compared to 2020, and a gross profit increase of over 90% compared to 2020[5] - The third vesting period requires a revenue increase of over 120% compared to 2020, and a gross profit increase of over 120% compared to 2020[5] - The personal performance assessment for incentive targets is categorized as "Qualified" or "Unqualified," with corresponding share allocation coefficients of 100% and 0% respectively[6] Financial Management - The company plans to utilize the remaining unspent funds from the 2022 fiscal year according to the previously disclosed usage plan and expected timeline[8]

Financial Performance - The company reported a revenue of RMB 1.796 billion for the first half of 2023, representing a year-on-year increase of 5.52%[9]. - Net profit attributable to shareholders was RMB 449.27 million, a decrease of approximately 15.32% compared to the same period last year[9]. - The gross profit margin improved to 67.10%, an increase of 2.10 percentage points year-on-year[9]. - The company’s basic earnings per share were RMB 0.55, down from RMB 0.65 in the same period last year[9]. - The company reported a total profit of RMB 466,539,593.35 for H1 2023, with an applicable tax expense calculated at RMB 46,653,959.34[158]. - The company’s net profit for H1 2023 was RMB 463,997,407.12, down from RMB 541,557,299.92 in H1 2022, representing a decline of 14.3%[162]. - The total comprehensive income for the first half of 2023 is RMB 465,874,450.72, compared to RMB 434,508,249.93 for the same period in 2022, indicating an increase of about 7.2%[69]. Research and Development - Research and development expenses amounted to RMB 588 million, a significant increase of 47.54% compared to the previous year[10]. - R&D investment reached RMB 588.14 million, accounting for 32.74% of operating revenue, which is a 47.54% increase compared to the previous year[29]. - The company has established a multi-level R&D system, with R&D investment at a high level of 32.74% of revenue, ensuring sustained competitiveness in the market[23]. - The company is actively developing high-performance industrial and automotive-grade products in the non-volatile memory sector to enhance competitiveness[19]. - The smart meter MCU technology has advanced with the development of embedded flash memory technology and low-power clock technology, with ongoing productization efforts[20]. Product Lines and Sales - The company’s sales revenue from the security and identification product line was approximately RMB 410 million, down from RMB 461 million in the previous year[13]. - The non-volatile memory product line achieved sales revenue of approximately RMB 588 million in the reporting period, up from RMB 487 million in 2022, reflecting a growth of 20.7%[14]. - The smart meter chip product line generated sales revenue of approximately RMB 113 million, a decrease from RMB 276 million in 2022, indicating a decline of 59.0%[16]. - The FPGA and other products line reported sales revenue of approximately RMB 586 million, an increase from RMB 378 million in 2022, representing a growth of 55.1%[17]. - The company continues to focus on expanding its product lines, particularly in high-reliability products and new applications[10]. Financial Position - The total assets of the company reached RMB 78.43 billion, reflecting a growth of approximately 28.35% since the beginning of the reporting period[9]. - The net assets attributable to shareholders increased to RMB 49.32 billion, up about 8.83% from the start of the reporting period[9]. - The company's total current assets increased to RMB 5,687,882,418.09 as of June 30, 2023, compared to RMB 4,327,100,944.42 on December 31, 2022, reflecting a growth of approximately 31.5%[53]. - The company's inventory at the end of the reporting period was valued at approximately RMB 2.85 billion, representing 50.08% of total current assets[39]. - The total liabilities increased to RMB 1,758,520,203.60 as of June 30, 2023, from RMB 903,876,332.57 at the end of 2022, showing a growth of approximately 94.5%[53]. Cash Flow and Financing - Cash flow from operating activities showed a net outflow of RMB 109,043.92 million, compared to a net inflow of RMB 32,910.72 million in the previous year[42]. - The company raised a total of RMB 540 million by issuing 40 million shares at RMB 13.50 each, with a net amount of RMB 507.6 million allocated for integrated circuit testing industrialization and R&D center construction by September 30, 2023[48]. - The company reported a significant increase in financial expenses by 82.74%, amounting to RMB (786.30) million, compared to RMB (430.28) million in the previous year[42]. - The company recorded a credit impairment loss of RMB (1,343.88) million, a 142.35% increase from RMB (554.53) million in the previous year[42]. - The company reported a net cash flow from financing activities of RMB 1,014,850,889.73, a turnaround from a net outflow of RMB 82,381,852.95 in the prior year[62]. Market and Industry Conditions - The semiconductor industry is experiencing a downturn, with a reported 3.0% decline in integrated circuit production in China for the first half of 2023[11]. - The company faces risks related to the slowdown in the integrated circuit industry growth, which could adversely affect its performance[32]. - The company is focusing on enhancing its technology and product reserves in preparation for industry recovery, particularly in automotive and smart home applications[16]. Related Party Transactions - The company recognized related party service income from Fudan University amounting to RMB 61,320.75, an increase from RMB 46,226.42 in the same period last year, representing a growth of approximately 32.5%[194]. - Sales to Shanghai Fudan Communication Co., Ltd. reached RMB 114,889,504.57, up from RMB 80,789,693.88, indicating a growth of about 42.1% year-over-year[194]. - The company has contract liabilities with Fudan University amounting to RMB 23,400.00, unchanged from the previous period[200].

Financial Performance - For the six months ended June 30, 2023, the company reported operating revenue of RMB 1.796 billion, an increase of 5.52% compared to the same period last year[4]. - The net profit attributable to shareholders was RMB 449.27 million, a decrease of approximately 15.32% year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 415.00 million, down approximately 20.03% from the previous year[4]. - The comprehensive gross profit margin improved to 67.10%, an increase of 2.10 percentage points year-on-year[4]. - The group achieved a revenue of approximately RMB 1.796 billion in the first half of 2023, an increase of 5.52% compared to the same period last year[27]. - The net profit attributable to the parent company was approximately RMB 449 million, a decrease of 15.32% year-on-year[27]. - The company reported a gross profit margin of approximately 27.0% for the first half of 2023, compared to 33.0% in the same period of 2022[56]. - The total comprehensive income for the first half of 2023 is RMB 434,508,249.93, compared to a total of RMB 520,595,705.21 for the same period in 2022, indicating a decrease of about 16.5%[66]. Assets and Liabilities - The company's total assets as of June 30, 2023, were approximately RMB 78.43 billion, an increase of about 28.35% from the beginning of the reporting period[4]. - The total liabilities as of June 30, 2023, are RMB 2,275,203,690.15, compared to RMB 957,718,676.14 as of December 31, 2022, representing an increase of approximately 137.5%[53]. - The total equity attributable to shareholders as of June 30, 2023, is RMB 4,931,523,515.75, up from RMB 4,531,230,351.61 as of December 31, 2022, reflecting an increase of approximately 8.8%[53]. - The company's inventory at the end of the reporting period was valued at approximately RMB 2,848.25 million, representing 50.08% of total current assets[37]. - The total current assets as of June 30, 2023, amount to RMB 5,687,882,418.09, an increase from RMB 4,327,100,944.42 as of December 31, 2022, reflecting a growth of approximately 31.5%[52]. Research and Development - Research and development expenses for the first half of 2023 amounted to approximately RMB 588 million, a 47.54% increase compared to the same period last year[5]. - The group has established a multi-level R&D system, with a strong focus on product design and technology reserves for future market trends[21]. - The company continues to invest in R&D, talent development, and quality services to solidify its operational foundation and competitive advantages in the integrated circuit design sector[20]. - R&D investment during the reporting period was approximately RMB 588 million, accounting for 32.74% of the operating revenue[38]. Product Performance - The company maintained a strong product line, particularly in FPGA and non-volatile memory products, contributing to revenue growth[5]. - The sales revenue of the storage product line reached approximately RMB 588 million, an increase from RMB 487 million in 2022, reflecting a growth despite industry downturns[11]. - The FPGA product line achieved sales revenue of approximately RMB 586 million, up from RMB 378 million in 2022, showcasing strong market demand and technological advancements[14]. - The smart meter product line generated sales revenue of approximately RMB 113 million, down from RMB 276 million in 2022, indicating a need for strategic adjustments in this segment[12]. Market and Industry Trends - The semiconductor industry is currently in a downward cycle, but signs of recovery are emerging, particularly in high-end manufacturing and technology applications[7]. - The company is actively expanding its product applications in new areas, including anti-counterfeiting and automotive electronics, which have gained customer recognition[9]. - The company is actively developing high-performance industrial and automotive-grade products, enhancing its competitive edge in the storage product sector[16]. Cash Flow and Financing - Cash flow from operating activities showed a significant decline, with a net outflow of RMB 109,043.92 million compared to a net inflow of RMB 32,910.72 million in the previous year[40]. - The company raised a total of RMB 540 million from a public offering, with a net amount of RMB 507.6 million available for investment in integrated circuit testing and R&D projects[46]. - The company’s cash and cash equivalents decreased by 33.86% to RMB 78,757.69 million from RMB 119,082.83 million at the end of 2022[43]. Risk Factors - The company faces risks related to the slowdown in the integrated circuit industry and potential impacts from international trade environments[30][31]. - The company assesses credit risk on each balance sheet date, considering quantitative and qualitative analyses, external credit ratings, and forward-looking information[172]. - Significant increase in credit risk is determined by factors such as a rise in default probability exceeding a certain percentage and adverse changes in the debtor's financial condition[172]. Corporate Governance and Compliance - The financial statements have been prepared based on the going concern assumption, indicating no significant doubts about the company's ability to continue operations for the next 12 months[69]. - The company has implemented specific accounting policies and estimates tailored to its operational characteristics, particularly in areas such as financial instrument impairment and revenue recognition[70]. - The company holds a high-tech enterprise certificate valid for three years, allowing it to pay corporate income tax at a reduced rate of 15%[75].

Financial Performance - The company's operating revenue for Q1 2023 was approximately RMB 809.36 million, an increase of 4.33% compared to the same period last year[6]. - Net profit attributable to shareholders was approximately RMB 188.26 million, a decrease of 19.18% year-on-year[6]. - Total revenue for Q1 2023 reached RMB 809.36 million, a 4.5% increase from RMB 775.80 million in Q1 2022[18]. - Operating profit for Q1 2023 was RMB 208.31 million, down 13.3% from RMB 240.25 million in Q1 2022[18]. - Net profit attributable to shareholders for Q1 2023 was RMB 188.26 million, a decrease of 19.2% compared to RMB 232.93 million in Q1 2022[18]. - Basic earnings per share for Q1 2023 were RMB 0.23, down from RMB 0.29 in Q1 2022, a decrease of 20.7%[19]. Research and Development - R&D investment totaled RMB 286.90 million, representing a significant increase of 44.45% compared to the previous year[4]. - Research and development expenses increased to RMB 219.34 million in Q1 2023, up 30.1% from RMB 168.65 million in Q1 2022[18]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 695.42 million, reflecting a growth of 13.80% from the previous year[5]. - Total assets increased to RMB 6.95 billion in Q1 2023, up from RMB 6.11 billion in Q1 2022, reflecting a growth of 13.8%[17]. - Non-current liabilities rose to RMB 69.56 million in Q1 2023, compared to RMB 53.84 million in Q1 2022, marking an increase of 29.3%[17]. Cash Flow - Cash flow from operating activities was negative at RMB -524.98 million, primarily due to increased prepayments to suppliers and inventory buildup[9]. - Cash flow from operating activities showed a net outflow of RMB 524.98 million in Q1 2023, compared to a net inflow of RMB 178.01 million in Q1 2022[20]. - The company's cash inflow from investment activities was RMB 221.55 million in Q1 2023, compared to RMB 182.20 million in Q1 2022, an increase of 21.6%[20]. - Net cash flow from investing activities was -$294.34 million, a decrease from -$75.86 million in the previous period[22]. - Cash inflow from financing activities totaled $330.56 million, significantly up from $23.12 million year-over-year[22]. - The net increase in cash and cash equivalents was -$498.02 million, compared to an increase of $118.92 million in the prior year[22]. - The ending balance of cash and cash equivalents was $622.26 million, down from $534.68 million in the previous period[22]. Inventory and Shareholder Information - Inventory increased significantly from RMB 1,483,264,548.04 to RMB 2,283,583,401.62, reflecting a growth of approximately 53.9%[15]. - The total number of common shareholders at the end of the reporting period was 23,868, with the top ten shareholders holding a combined 68.71% of shares[10]. - The total number of A-share shareholders was 23,857, while H-share shareholders numbered 11[12]. - Hong Kong Central Clearing (Agent) Limited holds 284,204,990 shares, representing 34.80% of total shares[10]. - Shanghai Zhengben Enterprise Management Consulting Partnership (Limited Partnership) holds 52,167,270 shares, representing 6.39% of total shares[10]. - The company has a total of 109,620,000 shares held by Shanghai Fudan Fuxin Technology Holdings, accounting for 13.42%[10]. - As of March 31, 2023, 19,750,000 shares held by Shanghai Zhengben Enterprise Management Consulting Partnership were under judicial freeze[13]. Profitability Metrics - The gross profit margin for the reporting period was 66.77%, an increase of 3.18 percentage points year-on-year[6]. - The weighted average return on equity decreased by 3.09 percentage points to 4.06%[4]. - The company experienced an increase in credit impairment losses of approximately RMB 16.78 million due to higher accounts receivable balances[7].

Financial Performance - The company achieved a revenue of RMB 3.539 billion in 2022, representing a year-on-year growth of 37.31%[4] - Net profit attributable to shareholders reached RMB 1.077 billion, with a significant increase of 109.31% compared to the previous year[4] - The overall gross profit margin for 2022 was 64.67%[4] - Operating revenue for 2022 reached RMB 353,890.89 million, a 37.31% increase from RMB 257,726.23 million in 2021[25] - The company reported a significant increase in asset impairment losses, totaling RMB 135,373,635.53, primarily due to decreased demand for consumer electronics[26] - The company’s net assets as of December 31, 2022, amounted to RMB 5,153,169,377.95, representing an increase of approximately 53.05% compared to RMB 3,366,902,546.50 in 2021[45] - The total equity attributable to shareholders increased to approximately CNY 4.53 billion in 2022, a 44.4% rise from CNY 3.14 billion in 2021[166] - The company reported a total comprehensive income for the year was RMB 1,931,730.92, contributing to a total equity of RMB 2,920,195,605.92 by year-end[183] Research and Development - Research and development expenses amounted to approximately RMB 886 million, accounting for 25.04% of the annual revenue[5] - The company is actively developing billion-gate FPGA products to ensure technological leadership in the domestic programmable device sector[5] - Research and development expenditures increased by 83.25% to RMB 31,652.17 million, reflecting the company's commitment to innovation[28] - The company is focusing on enhancing supply chain capabilities and reducing the impact of supply chain fluctuations on operations[13] - The company is engaged in the design, development, and testing of ultra-large-scale integrated circuits, providing system solutions across various sectors including finance, social security, and artificial intelligence[15] Market Strategy and Product Development - The company is focusing on emerging markets and industrial-grade products to counteract the decline in consumer electronics chip demand[4] - The company maintains a leading position in the single-phase smart meter MCU market and is set to launch new products to strengthen its automotive electronics segment[5] - The company is actively expanding its market presence in industrial-grade products and high-reliability applications[7] - The company has established a strong foundation in semiconductor technology, which is critical for its future product development[55] Corporate Governance - The company confirmed its responsibility for preparing the financial statements for the year ended December 31, 2022, in accordance with statutory requirements and applicable accounting standards[60] - The board believes that the company has complied with all corporate governance code provisions during the year ended December 31, 2022[64] - The company has established various committees to ensure good corporate governance, including the Audit, Nomination, Remuneration, Strategic and Investment, and ESG Committees[76] - The board is collectively responsible for promoting robust corporate governance, which is embedded in the company's culture[63] Financial Management and Cash Flow - Net cash flow from operating activities decreased by 46.65% to RMB 32,128.55 million from RMB 60,220.49 million in 2021[27] - Cash and cash equivalents increased by 48.55% to RMB 119,082.83 million, up from RMB 80,164.72 million in 2021, primarily from fundraising activities[28] - The company reported a net cash inflow from financing activities of CNY 504,586,861.94 in 2022, down from CNY 718,805,717.40 in 2021, indicating a decrease of approximately 29.8%[176] - The net cash flow from investing activities in 2022 was CNY 132,514,506.43, compared to a net outflow of CNY 1,182,797,302.32 in 2021, indicating an improvement in cash flow management[174] Employee and Talent Management - The company has a total of 1,691 employees, with 885 in technical roles, reflecting a strong emphasis on technical expertise[48] - The company has established a comprehensive performance evaluation system to optimize talent management and ensure competitive compensation for employees[50] - The company emphasizes the importance of talent retention and innovation capability amidst intense competition for R&D personnel in the domestic chip design industry[34] Risks and Challenges - The company faces risks related to the concentration of suppliers and cyclical fluctuations in capacity utilization due to its fabless business model[34] - The semiconductor industry is experiencing a slowdown in growth, particularly in consumer electronics, which may adversely affect the company's performance[39] - The international trade environment poses significant risks to the company's operations, with increasing uncertainties and protectionist measures impacting the semiconductor industry[40] Shareholder and Dividend Policy - The company plans to distribute a cash dividend of RMB 1.35 per 10 shares, totaling RMB 110,248,627.50, pending shareholder approval[6] - The company has maintained a policy to distribute at least 10% of its distributable profits as cash dividends annually, subject to various factors[96] - The company will regularly review and reassess its dividend policy to ensure its effectiveness[96] Environmental, Social, and Governance (ESG) - The company emphasizes sustainable development and ESG management to enhance compliance and operational efficiency[6] - The company has established an Environmental, Social, and Governance (ESG) committee to oversee related matters and ensure effective risk management[124] - The leadership team has a commitment to environmental, social, and governance (ESG) principles, reflecting a modern approach to corporate responsibility[56]

Financial Performance - The company's operating revenue for 2022 was RMB 3,538,908,884.94, representing an increase of 37.4% compared to RMB 2,577,262,346.93 in 2021[4] - Net profit attributable to shareholders of the parent company reached RMB 1,076,843,340.68, up 109.5% from RMB 514,466,780.71 in the previous year[4] - Total comprehensive income for 2022 reached RMB 1,120,440,199.87, a significant increase from RMB 560,497,013.52 in 2021[5] - Basic earnings per share rose to 1.32 in 2022, compared to 0.69 in 2021, reflecting a growth of 91.3%[5] - The total profit for 2022 was RMB 1.12 billion, up from RMB 573.45 million in 2021[19] - The overall gross margin was 64.67%, an increase of 5.76 percentage points compared to the previous year[41] Assets and Liabilities - Total assets as of December 31, 2022, amounted to RMB 6,110,888,054.09, a significant increase of 46.5% from RMB 4,165,014,183.19 in 2021[3] - The total liabilities increased to RMB 957,718,676.14, compared to RMB 798,111,636.69 in the previous year, marking a rise of 19.9%[3] - The total equity attributable to shareholders of the parent company increased to RMB 4,531,230,351.61, up 44.4% from RMB 3,140,245,706.35 in 2021[3] - Current assets reached RMB 4,327,100,944.42, up about 42.26% from RMB 3,041,662,776.16 in 2021, with cash and cash equivalents increasing by 48.55% to RMB 1,190,828,339.52[44] Research and Development - Research and development expenses for 2022 were RMB 735,419,692.61, slightly up from RMB 691,637,283.03 in 2021, indicating a continued focus on innovation[4] - R&D investment for the period was approximately RMB 886 million, accounting for 25.04% of annual revenue, emphasizing the company's commitment to innovation[30] Market and Product Development - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[4] - The company plans to explore new applications for SE chips in access control, home appliances, and digital rights protection[24] - The company is actively expanding into new application areas such as overseas POS, automotive electronics, and electric two-wheelers, with promising future prospects[25] - The smart meter MCU product line is extending its applications to water, gas, and heat meters, capitalizing on domestic opportunities in fragmented markets[26] Accounts Receivable and Payable - The company reported a significant increase in accounts receivable, which rose to RMB 730,204,276.92 from RMB 451,703,130.78, reflecting a growth of 61.6%[2] - The aging analysis of accounts receivable shows that the amount within one year increased to RMB 688,650,408.23 in 2022 from RMB 406,261,790.71 in 2021, representing a growth of approximately 69.5%[12] - The company’s accounts payable as of 2022 was RMB 200,135,123.53, with amounts due within one year totaling RMB 187,918,075.41[13] Capital Management and Funding - The company completed a public offering of 40 million shares at RMB 13.50 per share, raising a total of RMB 540,000,000, with a net amount of RMB 507,600,000 allocated for integrated circuit testing industrialization and R&D center construction[55] - The actual amount of funds raised was RMB 507,600,000.00, with a remaining balance of RMB 222,192,779.93 as of December 31, 2022[56] - The company plans to use the remaining unutilized funds for development and technology reserve within two years from the listing date[60] Dividend Distribution - The company plans to distribute a cash dividend of RMB 1.35 per share for the fiscal year 2022, totaling RMB 110,248,627.50, which accounts for 10.24% of the net profit attributable to shareholders[16] - The company plans to distribute a final dividend of RMB 1.35 per 10 shares for the year ended December 31, 2022, totaling an estimated cash dividend of RMB 110,248,627.50, compared to RMB 52,942,630.00 in 2021[51] Compliance and Governance - The audit committee has reviewed the financial statements for the year ended December 31, 2022, confirming compliance with applicable accounting standards[64] - The company has maintained a public shareholding ratio of no less than 25% as of the announcement date[62] - There are no significant post-balance sheet events reported by the group[64]

Financial Performance - The company reported a revenue of approximately RMB 1.00 billion for Q3 2022, representing a year-on-year growth of 42.49%[6] - Net profit attributable to shareholders reached approximately RMB 329 million in Q3 2022, an increase of 69.50% compared to the same period last year[6] - For the first nine months of 2022, the company achieved a total revenue of approximately RMB 2.70 billion, reflecting a growth of 47.63% year-on-year[7] - The net profit attributable to shareholders for the first nine months was approximately RMB 859 million, marking a significant increase of 121.31% year-on-year[7] - Operating revenue for Q3 (July-September) increased by 42.49% due to active market expansion and continuous optimization[9] - Net profit attributable to shareholders for Q3 (July-September) rose by 69.50%, driven by increased operating revenue and improved gross profit margin[9] - Net profit attributable to shareholders for the first nine months increased by 121.31%[9] - Total sales revenue for the first three quarters reached RMB 2,619,490,649.96, a growth of 25.8% compared to RMB 2,081,554,188.70 in the same period of 2021[21] Profitability Metrics - The company's comprehensive gross profit margin improved from 58.16% to 65.03% in the first nine months of 2022 due to product structure optimization and new product launches[7] - The company reported a basic earnings per share of RMB 0.40 for Q3 2022, up 60.00% from the same period last year[4] - Basic earnings per share for the first three quarters of 2022 were RMB 1.05, compared to RMB 0.54 in the same period of 2021, reflecting an increase of about 94.4%[20] - The company reported a gross profit margin of approximately 34.4% for the first three quarters of 2022, compared to 21.2% in the same period of 2021[19] Research and Development - Research and development expenses totaled RMB 268.86 million in Q3 2022, which is a 39.83% increase compared to the same period last year[4] - Research and development investment for Q3 (July-September) was up by 39.83%, aimed at maintaining competitive R&D capabilities[9] - Research and development expenses for the first three quarters of 2022 were RMB 559,903,315.37, compared to RMB 476,680,565.67 in 2021, showing an increase of approximately 17.4%[19] Assets and Equity - Total assets at the end of the reporting period were RMB 57.61 billion, a 38.32% increase from the previous year[5] - Total assets increased by 38.32% primarily due to funds raised from public stock issuance and increased accounts receivable from revenue growth[10] - The equity attributable to shareholders increased to RMB 42.36 billion, reflecting a growth of 34.90% year-on-year[5] - The company's total equity reached RMB 4,845,425,452.59 as of September 30, 2022, up from RMB 3,366,902,546.50 at the end of 2021, indicating a growth of approximately 43.8%[18] Cash Flow - The company’s cash flow from operating activities showed a decline of 29.77% year-on-year, totaling RMB 26.63 million for the first nine months[4] - Cash flow from operating activities for the first nine months decreased by 29.77% due to increased prepayments to suppliers and inventory buildup[9] - Net cash flow from operating activities decreased to RMB 266,305,507.64, down 29.8% from RMB 379,177,943.55 year-on-year[21] - Cash inflow from investment activities totaled RMB 390,507,897.67, significantly higher than RMB 4,200,645.97 in the previous year[22] - Cash inflow from financing activities was RMB 537,453,354.78, down 30.7% from RMB 775,182,781.80 in the previous year[22] Shareholder Information - The total number of common shareholders at the end of the reporting period was 11,311[11] - The company received tax refunds of RMB 18,008,270.96, which is a 87.5% increase from RMB 9,616,832.09 in the previous year[21]

Financial Performance - The company achieved operating revenue of approximately RMB 1.70 billion for the first half of 2022, representing a year-on-year growth of 50.83%[5] - Net profit attributable to shareholders reached approximately RMB 530 million, an increase of about 172.99% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately RMB 519 million, up approximately 220.88% year-on-year[5] - The company’s basic earnings per share for the first half of 2022 were RMB 0.65, compared to RMB 0.28 in the same period last year[5] - The company reported a significant increase in operating costs, which rose to RMB 1,136,161,435.26 from RMB 934,452,973.79 year-over-year, highlighting rising operational expenses[52] - The company experienced a net profit margin of approximately 31.9% for the first half of 2022, compared to 18.8% in the same period of 2021, showcasing improved efficiency[52] Assets and Liabilities - The company's total assets as of June 30, 2022, were approximately RMB 4.98 billion, reflecting a year-on-year increase of about 19.49%[5] - The net assets attributable to shareholders amounted to approximately RMB 3.69 billion, a year-on-year growth of about 17.61%[5] - The company's inventory at the end of the reporting period was valued at approximately RMB 1.09 billion, constituting 30.46% of total current assets[37] - The accounts receivable balance at the end of the reporting period was approximately RMB 768 million, while the accounts receivable notes balance was approximately RMB 389 million, together accounting for 67.99% of operating revenue[39] - Total liabilities amounted to RMB 1,045,844,600.02, up from RMB 798,111,636.69, which is an increase of approximately 31.0%[49] - The company reported a significant increase in accounts receivable, which rose to RMB 768,254,860.27 from RMB 451,703,130.78, a growth of approximately 70.0%[48] Research and Development - The company maintained a research and development investment of approximately RMB 399 million, which is a 22.17% increase compared to the previous year[6] - The company has established a multi-level R&D system, accumulating rich industry experience and a diverse product line over more than 20 years[21] - The company aims to increase R&D investment in non-volatile memory technologies to maintain a competitive edge in reliability, capacity coverage, and cost[16] - R&D expenses totaled RMB 373,782,494.19 for the first half of 2022, an increase of 22.1% compared to RMB 306,010,449.01 in the same period of 2021[198] Sales and Revenue Growth - The company’s sales revenue from the security and identification chip product line was approximately RMB 461 million, an increase from RMB 373 million in 2021[9] - The non-volatile memory product line achieved sales revenue of approximately RMB 487 million in the reporting period, up from RMB 364 million in 2021, indicating a growth of 33.9%[10] - The smart meter chip product line generated sales revenue of approximately RMB 276 million, significantly increasing from RMB 99 million in 2021, representing a growth of 178.8%[12] - Sales of security and identification products increased by 23.57% year-on-year, driven by optimized product performance and customer service[27] - Sales of non-volatile memory products increased by 33.80% year-on-year, supported by an improved customer structure[27] - Sales of smart meters surged by 177.86% year-on-year, benefiting from supply chain improvements and new product mass production[27] Market Expansion and Partnerships - The company has established partnerships with major manufacturers such as Qualcomm, Broadcom, and Intel, enhancing the application of its Flash products in various fields[10] - The company is expanding its market presence in smart meters, VR/AR, and ADAS applications, leveraging its strong supply chain capabilities[10] - The company is actively expanding into international markets, having established subsidiaries in regions such as the US, Singapore, and Taiwan[24] Financial Management and Risks - The company faced risks from high supplier concentration and fluctuations in raw material prices, which could directly affect profitability[33] - The financial risk associated with R&D investments could impact profits if intangible assets are amortized or impaired[38] - The company emphasized the importance of R&D, with a significant focus on maintaining competitive core technologies[38] Cash Flow and Investments - The net cash flow from operating activities was approximately RMB 329 million, reflecting a 39.61% increase compared to RMB 236 million in the previous year[40] - Cash inflow from operating activities totaled RMB 1,750,703,225.13, up 32.6% from RMB 1,320,647,216.75 in the previous year[55] - Cash outflow for operating activities was RMB 1,421,596,063.46, an increase of 31.0% compared to RMB 1,084,914,717.88 in 2021[55] Compliance and Governance - The company’s financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring compliance and accuracy in reporting[67] - The company has no significant doubts regarding its ability to continue as a going concern for the next 12 months[68] Employee Compensation and Expenses - The total employee compensation payable amounted to RMB 143,208,910.14, a decrease from RMB 421,978,186.47 at the beginning of the period[176] - The company reported a significant increase in employee compensation for R&D, totaling RMB 225,573,621.87, up 36% from RMB 165,879,578.32 in the first half of 2021[198]

Financial Performance - The company achieved operating revenue of approximately RMB 775.80 million, representing a year-on-year increase of 54.54%[4] - Net profit attributable to shareholders reached approximately RMB 232.93 million, a significant increase of 169.62% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately RMB 226.27 million, reflecting a year-on-year growth of 217.81%[4] - Operating profit for Q1 2022 was RMB 240.25 million, compared to RMB 96.57 million in Q1 2021, reflecting a significant growth[24] - The company reported a total comprehensive income of RMB 237.97 million for Q1 2022, significantly higher than RMB 94.24 million in the same quarter last year[25] - Basic earnings per share for Q1 2022 were RMB 0.29, compared to RMB 0.12 in Q1 2021[25] Cash Flow and Liquidity - The company's cash flow from operating activities amounted to RMB 178.01 million, an increase of 324.40% year-on-year[5] - Cash flow from operating activities generated RMB 178.01 million, compared to RMB 41.94 million in Q1 2021, indicating improved cash generation[26] - Cash flow from investing activities showed a net outflow of RMB 75.86 million, compared to a net outflow of RMB 62.86 million in Q1 2021[26] - Net cash flow from financing activities amounted to 17,478,430.17, a significant decrease from 45,672,164.36 in the previous period[27] - Cash and cash equivalents increased by 118,922,930.35, compared to an increase of 24,889,916.79 in the prior period[27] - The ending balance of cash and cash equivalents reached 534,678,236.90, up from 304,259,283.88 in the previous year[27] Research and Development - Research and development expenses totaled RMB 198.61 million, accounting for 25.60% of operating revenue, with a year-on-year increase of 51.28%[5] - Research and development expenses increased to RMB 168.65 million, up 37.9% from RMB 122.40 million in the previous year[24] Assets and Liabilities - The total assets of the company at the end of the reporting period were RMB 465.37 million, an increase of 11.73% from the end of the previous year[6] - Total liabilities amounted to RMB 1,011.87 million, an increase from RMB 798.11 million year-over-year[23] - The equity attributable to shareholders increased to RMB 340.99 million, reflecting an 8.59% increase compared to the previous year[6] - Total equity attributable to shareholders of the parent company was RMB 3,409.91 million, up from RMB 3,140.25 million in the previous year[23] Inventory and Receivables - Inventory increased to RMB 1,013,208,945.33 from RMB 916,083,064.72, reflecting a growth of approximately 10.6%[20] - Accounts receivable rose to RMB 567,079,410.91, compared to RMB 451,703,130.78, indicating a growth of about 25.5%[19] Operational Outlook and Risks - The company is currently facing short-term operational impacts due to pandemic control measures, but maintains a stable medium to long-term operational outlook[17] - The company has identified potential risks in its annual report, which can be reviewed for further insights[17] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 13,821, with 13,811 being A-share holders[11] - The company plans to release 4,260,872 shares from its initial public offering on February 7, enhancing liquidity[17] Profitability Metrics - The comprehensive product gross margin improved from 51.13% to 63.59% due to an increase in the proportion of high-margin products and price increases[6]