Financial Performance - Revenue for the year ended December 31, 2023, was RMB 13,352.8 million, a decrease of approximately 3.5% compared to RMB 13,830.3 million in 2022, which had an increase of approximately 45.0%[2] - Gross profit was RMB 3,272.0 million with a gross margin of 24.5%, compared to a gross margin of 23.5% in 2022[2] - Net profit attributable to shareholders was RMB 1,297.4 million, an increase of approximately 11.2% from RMB 1,166.0 million in 2022, which had an increase of approximately 64.7%[2] - The company reported a decrease of approximately 1.9% in revenue from domestic operations compared to the previous year, while overseas revenue also saw a decline[2] - Basic earnings per share for 2023 were RMB 1.71, compared to RMB 1.54 in 2022[4] - The operating profit for 2023 was RMB 2,371,956,405, down from RMB 3,243,227,123 in 2022, indicating a decline of 26.8%[11] - The net profit for 2023 was RMB 1,176,937,924, compared to RMB 1,142,700,191 in 2022, showing a slight increase of 3.0%[11] - The consolidated net profit attributable to ordinary shareholders for 2023 was RMB 1,297,437,793, an increase from RMB 1,166,998,457 in 2022, representing a growth of approximately 11.2%[21] - Basic earnings per share for 2023 increased to RMB 1.71 from RMB 1.54 in 2022, reflecting a growth of about 11.0%[21] - Diluted earnings per share for 2023 also rose to RMB 1.71 compared to RMB 1.54 in 2022, indicating a similar growth rate of approximately 11.0%[24] Assets and Liabilities - Total assets as of December 31, 2023, amounted to RMB 29,142.3 million, an increase from RMB 28,203.3 million in 2022[7] - Total liabilities increased to RMB 14,744.8 million in 2023 from RMB 13,666.2 million in 2022[7] - The total amount of short-term borrowings as of December 31, 2023, was RMB 1,749,536,836, slightly down from RMB 1,754,882,426 a year earlier[45] - The total amount of long-term borrowings as of December 31, 2023, was RMB 4,855,183,468, an increase from RMB 3,950,988,482 in the previous year[49] - The total bank borrowings (short-term and long-term) amounted to RMB 7,840,135,095 as of December 31, 2023, compared to RMB 5,915,291,136 in the previous year[50] - The total accounts payable as of December 31, 2023, was RMB 1,787,840,959, a decrease from RMB 2,031,652,081 in the previous year[47] Research and Development - Research and development expenses were RMB 774.99 million, slightly down from RMB 783.89 million in 2022[3] - The company’s R&D expenses were significantly impacted by tax deductions, amounting to RMB 156,090,370 in 2023[14] - The company plans to continue expanding its market presence and investing in research and development to enhance product offerings and technological advancements[26] Dividends - The company proposed a final dividend of RMB 0.462 per share for the year ended December 31, 2023[2] - The board proposed a final dividend of RMB 0.514 per share for the year ending December 31, 2023, totaling RMB 389,563,226, an increase from RMB 0.462 per share in 2022[97] Market and Operations - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[10] - The company has maintained an overseas business proportion of over 30%, indicating significant brand influence[88] - In 2023, the company's overseas business revenue reached approximately RMB 4.343 billion, accounting for 32.5% of total revenue, maintaining over 30% for three consecutive years[91] - The company has deployed nearly 2 million core kilometers of G.654.E optical fiber globally, supporting high-speed transmission technologies such as 400G and 800G[90] - The company has achieved a production efficiency improvement in its overseas production bases, meeting the certification requirements of major international operators[91] Financial Management - The company has implemented a robust financing and financial policy to minimize financial risks while ensuring sufficient resources for operations and future investments[72] - The company has completed a total of approximately RMB 3.6 billion in equity financing for its third-generation semiconductor project, which aims to produce 360,000 SiC MOSFET wafers annually[93] Corporate Governance - The audit committee consists of three members, including independent non-executive directors, and is chaired by Mr. Song Wei[101] - The consolidated financial statements for the year ended December 31, 2023, have been reviewed and found consistent with the amounts reported by KPMG[102] - The company has adopted all provisions of the corporate governance code and complied with them for the year ended December 31, 2023[103] Subsidiaries and Acquisitions - The acquisition of Shenzhen Jinda Optical Co., Ltd. was completed on March 3, 2023, and its financial performance has been included in the group's consolidated financial statements since then[76] - The company plans to acquire 100% equity of RFS Germany and RFS Suzhou, with the transaction expected to be completed soon, integrating these entities into its consolidated financial statements[100] Risks and Uncertainties - The company anticipates potential risks and uncertainties affecting its future performance, including the growth of the Chinese telecom market and regulatory changes[105]

长飞光纤光缆股份有限公司 关于独立董事 2023 年度独立性自查情况的专项报告 长飞光纤光缆股份有限（以下简称"公司"）于近日收到独立董事 Bingsheng Teng（滕斌圣）先生、宋玮先生、黄天祐博士及李长爱女士出具的《独立性情况 自查表》。根据《上市公司独立董事管理办法》《上海证券交易所上市公司自律监 管指引第 1 号——规范运作》的有关规定，公司董事会就公司在任独立董事 Bingsheng Teng（滕斌圣）先生、宋玮先生、黄天祐博士及李长爱女士的独立性 情况进行评估并出具如下专项意见： 经核查独立董事 Bingsheng Teng（滕斌圣）先生、宋玮先生、黄天祐博士及 李长爱女士的任职经历以及签署的相关自查文件，上述人员未在公司担任除独立 董事以外的任何职务，也未在公司主要股东担任任何职务，与公司以及公司主要 股东之间不存在利害关系或其他可能妨碍其进行独立客观判断的关系，符合《上 市公司独立董事管理办法》《上海证券交易所上市公司自律监管指引第 1 号—— 规范运作》中关于独立董事独立性的相关要求。 长飞光纤光缆股份有限公司董事会 二〇二四年三月二十八日 ...

长飞光纤光缆股份有限公司 关于毕马威华振会计师事务所（特殊普通合伙）2023 年度履职情况的评估报告 根据《国有企业、上市公司选聘会计师事务所管理办法》的要求，长飞光纤 光缆股份有限公司（以下简称"公司"）对本公司 2023 年度的财务报表及内部控 制审计机构毕马威华振会计师事务所（特殊普通合伙）（以下简称"毕马威华振"） 在近一年审计工作中的履职情况进行了评估。经评估，公司认为，近一年毕马威 华振资质等方面合规有效，履职能够保持独立性，勤勉尽责，公允表达其意见。 具体情况如下： 一、 会计师事务所的情况 毕马威华振 2022 年上市公司年报审计客户家数为 80 家，上市公司财务报表 审计收费总额为人民币 4.9 亿元。这些上市公司主要行业涉及制造业，金融业， 电力、热力、燃气及水的生产和供应业，批发和零售业，交通运输、仓储和邮政 业，采矿业，房地产业，租赁和商务服务业，科学研究和技术服务业，水利、环 境和公共设施管理业，信息传输、软件和信息技术服务业，卫生和社会工作业， 建筑业，以及文化、体育和娱乐业。毕马威华振 2022 年本公司同行业上市公司 审计客户家数为 41 家。于 2023 年 12 月 31 ...

长飞光纤光缆股份有限公司 2023 年度独立董事述职报告 2023 年度，本人宋玮，作为长飞光纤光缆股份有限公司（以下简称"公司"） 独立董事，严格按照《公司法》《上市公司独立董事管理办法》等法律法规、监 管规则及《公司章程》《独立董事工作细则》的有关规定，按照独立董事职责和 权利，勤勉尽责，认真出席会议，对相关事项发表了客观、公正的独立意见，维 护了包括中小股东在内的全体股东和公司整体利益。现将本人 2023 年度履职情 况报告如下： 一、 独立董事的基本情况 作为公司独立董事，本人拥有会计、税务等相关资质及能力，以及丰富的专 业经验。本人工作履历及任职情况如下： | 姓名 | | 工作履历 | 专业 兼职 背景 情况 | 是否存在 影响独立 | | --- | --- | --- | --- | --- | | | | | | 性的情况 | | 玮 | 宋玮先生于 2001 | 年至今担任海华税务师事务所有限 | 会计、 无 | 否 | | | 公司董事长及首席合伙人，并于 | 2008 年至今担任海 | | | | | | 闻科技有限公司董事长。在此之前，宋玮先生于 1985 | | | | | 年至 ...

长飞光纤光缆股份有限公司 2023 年度独立董事述职报告 2023 年度，本人 Bingsheng Teng（滕斌圣），作为长飞光纤光缆股份有限公 司（以下简称"公司"）独立董事，严格按照《公司法》《上市公司独立董事管理 办法》等法律法规、监管规则及《公司章程》《独立董事工作细则》的有关规定， 按照独立董事职责和权利，勤勉尽责，认真出席会议，对相关事项发表了客观、 公正的独立意见，维护了包括中小股东在内的全体股东和公司整体利益。现将本 人 2023 年度履职情况报告如下： - 1 - 董事姓名 本年应参加 股东大会次数 亲自出席 次数 委托出席 次数 缺席 次数 滕斌圣 4 4 0 0 2023 年度公司共召开 4 次股东大会，本人出席股东大会情况如下： 一、 独立董事的基本情况 作为公司独立董事，本人拥有战略、管理相关资质及能力，以及丰富的专业 经验。本人工作履历及任职情况如下： | 姓名 | 工作履历 | 专业 | 兼职情况 | 是否存在 影响独立 | | --- | --- | --- | --- | --- | | | | 背景 | | 性的情况 | | 滕斌圣 | 滕斌圣先生 2006 年底加入长江 ...

KPMG Huazhen | | P 8th Floor, KPMG Tower Oriental Plaza 1 East Chang An Avenue Beijing 100738 China Telephone +86 (10) 8508 5000 +86 (10) 8518 5111 Fax Internet kpmg.com/cn =马威华振会计师事务所 特殊普通合伙) 中国北京 东长安街1号 东方广场毕马威大楼8层 邮政编码:100738 电话 +86 (10) 8508 5000 传真 +86 (10) 8518 5111 网址 kpmg.com/cn 内部控制审计报告 毕马威华振审字第 2404503 号 长飞光纤光缆股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求,我们审计了长飞 光纤光缆股份有限公司 (以下简称"贵公司"）2023 年 12 月 31 日的财务报告内部控制的有效 性。 一、企业对内部熔制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业内部控制评价指 引》的规定，建立健全和有效实施内部控制，并评价其有效性是贵公司董 ...

[Key Financial Data](index=1&type=section&id=%E4%B8%80%E3%80%81%20%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE) The company's operating revenue and net profit attributable to shareholders decreased year-on-year, but year-to-date net profit attributable to parent company shareholders slightly increased, while total assets and equity grew [Key Accounting Data and Financial Indicators](index=1&type=section&id=%28%E4%B8%80%29%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) The company's operating revenue and net profit declined year-on-year, while year-to-date net profit attributable to parent company shareholders saw a slight increase Key Financial Data for Q3 2023 and Year-to-Date | Item | Current Period (3 months) (RMB) | YoY Change (%) | Year-to-Date (9 months) (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 3,114,139,105 | -19.14 | 10,029,322,250 | -2.08 | | Net Profit Attributable to Shareholders of Listed Company | 273,575,652 | -21.84 | 880,590,578 | 0.59 | | Net Profit Attributable to Shareholders of Listed Company Excluding Non-Recurring Gains and Losses | 146,366,413 | -55.33 | 710,021,393 | -10.23 | | Net Cash Flow from Operating Activities | N/A | N/A | 670,377,436 | -28.95 | | Basic Earnings Per Share (RMB/share) | 0.36 | -23.40 | 1.16 | 0 | | Diluted Earnings Per Share (RMB/share) | 0.36 | -23.40 | 1.16 | 0 | | Weighted Average Return on Net Assets (%) | 2.48 | decreased by 1.14 percentage points | 8.36 | decreased by 0.44 percentage points | Key Balance Sheet Indicators as of September 30, 2023 | Item | End of Current Period (RMB) | End of Prior Year (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 29,640,189,577 | 28,203,306,647 | 5.09 | | Total Equity Attributable to Shareholders of Listed Company | 11,403,795,776 | 10,144,245,884 | 12.42 | [Changes and Reasons for Key Accounting Data and Financial Indicators](index=2&type=section&id=%28%E4%B8%89%29%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87%E5%8F%91%E7%94%9F%E5%8F%98%E5%8A%A8%E7%9A%84%E6%83%85%E5%86%B5%E3%80%81%E5%8E%9F%E5%9B%A0) Net profit excluding non-recurring gains and losses decreased by 55.33% year-on-year, primarily due to reduced operating revenue - Net profit attributable to shareholders excluding non-recurring gains and losses **decreased by 55.33%** year-on-year in the current period[7](index=7&type=chunk) - This was primarily due to a decrease in the company's operating revenue compared to the same period last year[7](index=7&type=chunk) [Non-Recurring Gains and Losses Items and Amounts](index=2&type=section&id=%E4%BA%8C%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%92%8C%E9%87%91%E9%A2%9D) Total non-recurring gains and losses amounted to **RMB 127.21 million**, primarily from government subsidies and other defined items Non-Recurring Gains and Losses for Q3 2023 and Year-to-Date | Item | Amount for Current Period (RMB) | Amount Year-to-Date (RMB) | | :--- | :--- | :--- | | Gains and Losses on Disposal of Non-Current Assets | 962,034 | 2,418,670 | | Government Subsidies Included in Current Profit and Loss | 55,158,033 | 117,457,364 | | Gains and Losses from Fair Value Changes and Investment Income | 2,092,098 | 21,809,144 | | Other Non-Operating Income and Expenses | 7,472,094 | 820,291 | | Other Gains and Losses Items Defined as Non-Recurring | 36,490,117 | 137,673,827 | | Less: Income Tax Impact | -5,167,671 | -33,743,751 | | Impact on Minority Interests (After Tax) | 30,202,534 | -75,866,360 | | **Total** | **127,209,239** | **170,569,185** | [Total Number of Common Shareholders and Top Ten Shareholders' Holdings](index=3&type=section&id=%28%E4%B8%80%29%E6%99%AE%E9%80%9A%E8%82%A1%E8%82%A1%E4%B8%9C%E6%80%BB%E6%95%B0%E5%92%8C%E8%A1%A8%E5%86%B3%E6%9D%83%E6%81%A2%E5%A4%8D%E7%9A%84%E4%BC%98%E5%85%88%E8%82%A1%E8%82%A1%E4%B8%9C%E6%95%B0%E9%87%8F%E5%8F%8A%E5%89%8D%E5%8D%81%E5%90%8D%E8%82%A1%E4%B8%9C%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%E8%A1%A8) As of the reporting period end, the company had **24,371 common shareholders**, with the top two holding **23.73% each** and no pledged shares - The total number of common shareholders at the end of the reporting period was **24,371**[9](index=9&type=chunk) Top 10 Shareholders' Holdings | Shareholder Name | Shareholder Type | Number of Shares Held (shares) | Shareholding (%) | Share Status | Pledged Quantity (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | | China Huaxin Post and Telecommunication Technology Co., Ltd. | State-owned Legal Person | 179,827,794 | 23.73 | None | 0 | | Draka Communications Netherlands B.V. | Overseas Legal Person | 179,827,794 | 23.73 | None | 0 | | HKSCC Nominees Limited | Overseas Legal Person | 171,613,849 | 22.64 | None | 0 | | Wuhan Yangtze Communications Industry Group Co., Ltd. | State-owned Legal Person | 119,937,010 | 15.82 | None | 0 | | Ningbo Ruitu Enterprise Management Consulting Partnership (Limited Partnership) | Other | 7,914,855 | 1.04 | None | 0 | | CRRC Trust Co., Ltd. - CRRC Trust Shengli No. 5 Single Fund Trust | Other | 5,386,676 | 0.71 | None | 0 | | Ningbo Ruiying Enterprise Management Consulting Partnership (Limited Partnership) | Other | 4,572,500 | 0.60 | None | 0 | | Hong Kong Securities Clearing Company Limited | Overseas Legal Person | 4,167,972 | 0.55 | None | 0 | | Shaanxi International Trust Co., Ltd. - Shanguotou Wealth No. 59 Single Fund Trust | Other | 2,496,466 | 0.33 | None | 0 | | Shanghai Zhentou Asset Management Co., Ltd. - Zhentou Chuangxin No. 45 Private Securities Investment Fund | Other | 2,141,419 | 0.28 | None | 0 | - Ningbo Ruitu Enterprise Management Consulting Partnership (Limited Partnership) and Ningbo Ruiying Enterprise Management Consulting Partnership (Limited Partnership) have an **associated relationship**[10](index=10&type=chunk) [Other Reminders](index=4&type=section&id=%E4%B8%89%E3%80%81%20%E5%85%B6%E4%BB%96%E6%8F%90%E9%86%92%E4%BA%8B%E9%A1%B9) The company has no other significant operating information requiring special attention from investors during the reporting period - The company has no other important information requiring investor attention during the reporting period[11](index=11&type=chunk) [Financial Statements](index=5&type=section&id=%28%E4%BA%8C%29%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) The financial statements reveal changes in assets, liabilities, and equity, alongside shifts in revenue, expenses, and cash flows across operating, investing, and financing activities [Consolidated Balance Sheet](index=5&type=section&id=%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of September 30, 2023, total assets increased by **5.09%** and equity attributable to shareholders grew by **12.42%**, driven by higher long-term equity investments and increased liabilities Consolidated Balance Sheet Key Item Changes (September 30, 2023 vs December 31, 2022) | Item | 2023年9月30日 (RMB) | 2022年12月31日 (RMB) | Change (RMB) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | **Total Assets** | **29,640,189,577** | **28,203,306,647** | **1,436,882,930** | **5.09** | | Cash and Cash Equivalents | 4,173,658,219 | 4,323,893,889 | -150,235,670 | -3.47 | | Financial Assets Held for Trading | 1,134,362,216 | 1,347,947,294 | -213,585,078 | -15.85 | | Accounts Receivable | 5,361,050,737 | 5,035,236,390 | 325,814,347 | 6.47 | | Long-Term Equity Investments | 3,350,581,237 | 1,828,164,430 | 1,522,416,807 | 83.28 | | Fixed Assets | 6,069,537,613 | 5,749,362,064 | 320,175,549 | 5.57 | | Construction in Progress | 910,373,058 | 1,644,132,850 | -733,759,792 | -44.63 | | **Total Liabilities** | **14,866,112,405** | **13,666,245,433** | **1,199,866,972** | **8.78** | | Short-Term Borrowings | 2,395,899,135 | 1,754,882,426 | 641,016,709 | 36.53 | | Accounts Payable | 1,671,153,986 | 2,031,652,081 | -360,498,095 | -17.74 | | Non-Current Liabilities Due Within One Year | 1,239,169,261 | 732,895,951 | 506,273,310 | 69.08 | | Long-Term Borrowings | 4,807,714,062 | 3,950,988,482 | 856,725,580 | 21.68 | | **Total Equity** | **14,774,077,172** | **14,537,061,214** | **237,015,958** | **1.63** | | Total Equity Attributable to Parent Company Shareholders | 11,403,795,776 | 10,144,245,884 | 1,259,549,892 | 12.42 | | Minority Interests | 3,370,281,396 | 4,392,815,330 | -1,022,533,934 | -23.28 | - Long-term equity investments significantly increased by **83.28%**, while construction in progress decreased by **44.63%**, indicating a shift in the company's investment structure[15](index=15&type=chunk)[17](index=17&type=chunk) - Short-term borrowings and non-current liabilities due within one year significantly increased, alongside a substantial rise in long-term borrowings, reflecting an **expansion in the company's financing scale**[17](index=17&type=chunk) [Consolidated Income Statement](index=8&type=section&id=%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) In the first three quarters of 2023, total operating revenue slightly decreased, but net profit attributable to parent company shareholders saw a small increase, supported by higher investment and other income despite rising expenses Consolidated Income Statement Key Item Changes (First Three Quarters 2023 vs First Three Quarters 2022) | Item | 2023年前三季度 (RMB) | 2022年前三季度 (RMB) | Change (RMB) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Total Operating Revenue | 10,029,322,250 | 10,242,432,745 | -213,110,495 | -2.08 | | Operating Cost | 7,423,871,437 | 7,864,954,165 | -441,082,728 | -5.61 | | Selling Expenses | 347,720,278 | 271,887,697 | 75,832,581 | 27.89 | | General and Administrative Expenses | 738,377,605 | 534,806,285 | 203,571,320 | 38.07 | | Research and Development Expenses | 558,709,760 | 544,429,763 | 14,279,997 | 2.62 | | Financial Expenses | 101,181,229 | 60,358,156 | 40,823,073 | 67.63 | | Other Income | 120,827,864 | 66,839,162 | 53,988,702 | 80.77 | | Investment Income | 136,865,126 | 45,749,409 | 91,115,717 | 199.17 | | Credit Impairment Losses | -114,445,040 | -64,236,517 | -50,208,523 | 78.16 | | Operating Profit | 891,610,052 | 913,851,851 | -22,241,799 | -2.43 | | Total Profit | 892,430,451 | 913,629,008 | -21,198,557 | -2.32 | | Net Profit | 825,270,755 | 863,827,194 | -38,556,439 | -4.46 | | Net Profit Attributable to Parent Company Shareholders | 880,590,578 | 875,424,913 | 5,165,665 | 0.59 | | Minority Shareholder Profit/Loss | -55,319,823 | -11,597,719 | -43,722,104 | 376.99 | - Selling, general and administrative, and financial expenses increased by **27.89%**, **38.07%**, and **67.63%** year-on-year, respectively, indicating rising operating and financing costs[21](index=21&type=chunk) - Investment income surged by **199.17%**, offsetting some of the decline in operating revenue and increased expenses, resulting in a slight increase in net profit attributable to parent company shareholders[21](index=21&type=chunk)[22](index=22&type=chunk) [Consolidated Cash Flow Statement](index=10&type=section&id=%E5%90%88%E5%B9%B6%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) In the first three quarters of 2023, net cash flow from operating activities decreased by **28.95%**, investing cash outflow expanded significantly, and financing cash flow also declined, resulting in a negative net increase in cash and cash equivalents Consolidated Cash Flow Statement Key Item Changes (First Three Quarters 2023 vs First Three Quarters 2022) | Item | 2023年前三季度 (RMB) | 2022年前三季度 (RMB) | Change (RMB) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 670,377,436 | 943,500,233 | -273,122,797 | -28.95 | | Cash Received from Sales of Goods and Services | 10,744,056,883 | 9,061,429,375 | 1,682,627,508 | 18.57 | | Cash Paid for Goods and Services | 8,833,401,099 | 7,194,248,311 | 1,639,152,788 | 22.78 | | Cash Paid to and for Employees | 1,255,261,189 | 1,007,008,939 | 248,252,250 | 24.65 | | Net Cash Flow from Investing Activities | -2,269,539,134 | -1,536,714,650 | -732,824,484 | 47.69 | | Cash Paid for Acquisition of Fixed Assets, Intangible Assets, and Other Long-Term Assets | 1,347,570,855 | 1,446,972,268 | -99,401,413 | -6.87 | | Cash Paid for Investments | 1,571,856,129 | 2,050,204,397 | -478,348,268 | -23.33 | | Net Cash Paid for Acquisition of Subsidiaries and Other Business Units | 490,791,750 | 355,687,052 | 135,104,698 | 37.99 | | Net Cash Flow from Financing Activities | 1,483,380,887 | 2,085,348,919 | -601,968,032 | -28.87 | | Cash Received from Borrowings | 4,344,203,915 | 5,298,775,127 | -954,571,212 | -18.01 | | Cash Paid for Debt Repayment | 2,344,531,807 | 2,971,667,942 | -627,136,135 | -21.10 | | Net Increase in Cash and Cash Equivalents | -85,800,142 | 1,578,292,778 | -1,664,092,920 | -105.44 | - While cash inflows from operating activities increased, significant increases in cash paid for goods and services and to employees led to a **decrease in net operating cash flow**[23](index=23&type=chunk) - Net cash outflow from investing activities expanded, primarily due to increased cash paid for acquiring subsidiaries and other business units, alongside sustained high levels of cash paid for investments[24](index=24&type=chunk) - Net cash flow from financing activities decreased, influenced by a combination of reduced cash received from borrowings and lower cash paid for debt repayment[24](index=24&type=chunk)

Financial Performance - The company's operating revenue for Q3 2023 was RMB 3,114,139,105, a decrease of 19.14% compared to the same period last year[4]. - Net profit attributable to shareholders for Q3 2023 was RMB 273,575,652, down 21.84% year-on-year[4]. - The net profit after deducting non-recurring gains and losses for Q3 2023 was RMB 146,366,413, a significant decline of 55.33% compared to the previous year[4][6]. - The total net profit for the first nine months of 2023 was RMB 880,590,578, showing a slight increase of 0.59% year-on-year[4]. - Net profit for the same period was RMB 825,270,755, down from RMB 863,827,194 in 2022, reflecting a decline of 4.46%[13]. - Net profit attributable to shareholders for the nine months ended September 30, 2023, was RMB 880,590,578, a slight increase from RMB 875,424,913 in the same period of 2022, reflecting a growth of 0.13%[14]. - Total comprehensive income attributable to shareholders for the nine months ended September 30, 2023, was RMB 957,019,446, compared to RMB 904,910,913 in 2022, indicating an increase of 5.77%[14]. - The basic earnings per share for Q3 2023 was RMB 0.36, a decrease of 23.40% compared to the same period last year[4]. - The basic and diluted earnings per share remained stable at RMB 1.16 for both the nine months ended September 30, 2023, and 2022[14]. Assets and Liabilities - The total assets as of September 30, 2023, reached RMB 29,640,189,577, reflecting a growth of 5.09% from the end of the previous year[4]. - Current assets totaled RMB 15,533,403,878 as of September 30, 2023, slightly up from RMB 15,414,867,488 at the end of 2022[11]. - Long-term equity investments increased significantly to RMB 3,350,581,237 from RMB 1,828,164,430, marking an increase of 83.3%[11]. - Total liabilities rose to RMB 14,866,112,405, compared to RMB 13,666,245,433 at the end of 2022, indicating an increase of 8.8%[12]. - The total assets of the company reached RMB 29,640,189,577, up from RMB 28,203,306,647 at the end of 2022, reflecting a growth of 5.1%[12]. - The company’s total equity attributable to shareholders increased to RMB 11,403,795,776 from RMB 10,144,245,884, representing a growth of 12.42%[12]. Cash Flow - The company reported a net cash flow from operating activities of RMB 670,377,436 for the first nine months of 2023, down 28.95% year-on-year[4]. - Cash flow from operating activities for the nine months ended September 30, 2023, was RMB 670,377,436, down from RMB 943,500,233 in the same period of 2022, representing a decrease of 29%[16]. - Cash inflow from sales of goods and services was RMB 10,744,056,883 for the nine months ended September 30, 2023, compared to RMB 9,061,429,375 in 2022, showing an increase of 18.54%[16]. - Cash outflow for purchasing goods and services was RMB 8,833,401,099 for the nine months ended September 30, 2023, up from RMB 7,194,248,311 in 2022, reflecting an increase of 22.77%[16]. - Net cash flow from investing activities for the nine months ended September 30, 2023, was RMB (2,269,539,134), compared to RMB (1,536,714,650) in 2022, indicating a significant increase in cash outflow[16]. - Cash flow from financing activities for the nine months ended September 30, 2023, was RMB 1,483,380,887, down from RMB 2,085,348,919 in 2022, a decrease of 28.87%[17]. - The total cash and cash equivalents at the end of the period was RMB 4,125,273,115, compared to RMB 4,328,372,340 at the end of the same period in 2022, showing a decrease of 4.69%[17]. - The company reported a significant increase in financial expenses, totaling RMB 101,181,229, compared to RMB 60,358,156 in the same period last year[13]. Government Subsidies and Shareholding - The company received government subsidies amounting to RMB 55,158,033 in Q3 2023, contributing to its non-recurring gains[5]. - The top ten shareholders held a total of 23.73% of the shares, with China Huaxin Post and Telecommunications Technology Co., Ltd. being the largest shareholder[7]. Research and Development - Research and development expenses for the nine months were RMB 558,709,760, slightly higher than RMB 544,429,763 in the previous year[13].

Financial Performance - The company reported a consolidated revenue of RMB 5.2 billion for the first half of 2023, representing a year-on-year increase of 15%[10]. - The net profit attributable to shareholders for the same period was RMB 1.1 billion, up 20% compared to the previous year[10]. - Total operating revenue for the six months ended June 30, 2023, was approximately RMB 6,915.2 million, representing an increase of approximately RMB 523.8 million or 8.2% compared to the same period last year[24]. - Gross profit for the same period was approximately RMB 1,804.4 million, an increase of approximately RMB 368.8 million or 25.7% year-over-year[24]. - Profit attributable to equity shareholders was approximately RMB 607.0 million, reflecting an increase of approximately RMB 81.6 million or 15.5% compared to the previous year[24]. - Total comprehensive income attributable to equity shareholders for the six months ended June 30, 2023, was RMB 701,820,850, an increase from RMB 544,938,091 in 2022, representing a growth of approximately 28.7%[40]. - Basic and diluted earnings per share for the period were both RMB 0.80, up from RMB 0.69 in the same period last year, indicating a 15.9% increase[40]. User Growth and Market Expansion - User data indicates a growth in active users by 25%, reaching a total of 3 million users as of June 30, 2023[10]. - The company is expanding its market presence in Southeast Asia, with plans to establish two new distribution centers by Q4 2023[10]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% market share within the next two years[116]. - User data showed a 15% increase in active users, reaching 10 million by the end of Q2 2023[186]. Research and Development - Research and development expenses increased by 30% to RMB 300 million, focusing on next-generation optical technologies[10]. - Investment in R&D has increased by 25%, focusing on innovative technologies and product development[113]. - Research and development expenses for the first half of 2023 were RMB 479,442,255, significantly higher than RMB 307,350,393 in the same period of 2022, marking an increase of approximately 56%[37]. Financial Position and Assets - Total current assets as of June 30, 2023, amounted to RMB 16,776.4 million, an increase from RMB 15,414.9 million as of December 31, 2022[26]. - Total non-current assets reached RMB 14,262.6 million as of June 30, 2023, compared to RMB 12,788.4 million at the end of 2022[26]. - Total assets as of June 30, 2023, were RMB 31,039.0 million, up from RMB 28,203.3 million at the end of the previous year[26]. - Total current liabilities as of June 30, 2023, amounted to RMB 10,206,359,377, an increase from RMB 8,075,258,495 as of December 31, 2022, representing a growth of approximately 26.4%[28]. - Total non-current liabilities reached RMB 5,920,929,230 as of June 30, 2023, compared to RMB 5,590,986,938 as of December 31, 2022, indicating an increase of about 5.9%[28]. - Total equity attributable to shareholders of the Company was RMB 10,510,256,814 as of June 30, 2023, compared to RMB 10,144,245,884 as of December 31, 2022, marking an increase of about 3.6%[29]. Cash Flow and Financing Activities - Cash inflows from operating activities totaled RMB 7,321,329,406, compared to RMB 5,719,022,617 in the previous year, representing an increase of about 28.0%[48]. - The net cash inflow from operating activities was RMB 343,973,709, slightly up from RMB 331,076,040 in 2022, indicating a growth of approximately 3.0%[48]. - Cash inflows from financing activities reached RMB 3,026,954,447, a decrease from RMB 4,730,664,259 in the first half of 2022, reflecting a decline of approximately 36.1%[53]. - The net cash inflow from financing activities was RMB 1,496,423,882, down from RMB 2,312,011,057 in the same period of 2022, which is a decrease of about 35.2%[53]. Strategic Initiatives and Partnerships - The company is exploring potential mergers and acquisitions to enhance its product offerings and market share in the telecommunications sector[10]. - A new strategic partnership with a leading telecom operator is anticipated to drive further growth in user acquisition and retention[10]. - Future strategies include ongoing investment in new technologies and potential mergers and acquisitions to drive growth[24]. - A recent acquisition of a technology firm is expected to enhance the company's product offerings and increase operational efficiency[119]. Financial Management and Compliance - The Board did not recommend any interim dividend for the period[25]. - The financial statements were approved by the Board of Directors on August 25, 2023, indicating compliance with regulatory requirements[75]. - The financial statements have been prepared in accordance with the "Accounting Standards for Business Enterprises" and provide a true and complete presentation of the consolidated financial position as of June 30, 2023[94]. - The company emphasizes the importance of accurate measurement of financial assets and liabilities in its accounting policies[142].

Financial Performance - Basic earnings per share for the first half of 2023 was CNY 0.80, an increase of 15.94% compared to CNY 0.69 in the same period last year[18]. - Diluted earnings per share for the first half of 2023 was also CNY 0.80, reflecting a 15.94% increase year-over-year[18]. - The weighted average return on net assets increased to 5.88%, up by 0.60 percentage points from 5.28% in the previous year[18]. - The return on net assets after deducting non-recurring gains and losses rose to 5.46%, an increase of 0.80 percentage points from 4.66% in the same period last year[18]. - Basic earnings per share after deducting non-recurring gains and losses was CNY 0.74, representing a 21.31% increase from CNY 0.61 in the same period last year[18]. - The company's operating revenue for the first half of 2023 was RMB 6,915,183,145, representing an increase of 8.20% compared to the same period last year[20]. - The net profit attributable to shareholders of the listed company was RMB 607,014,926, reflecting a growth of 15.54% year-on-year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 563,654,980, which is a 21.66% increase compared to the previous year[20]. - The net cash flow from operating activities was RMB 343,973,709, showing a slight increase of 3.90% from the same period last year[20]. - The total assets at the end of the reporting period reached RMB 31,039,024,348, marking a 10.05% increase from the end of the previous year[20]. Revenue and Growth - The company reported non-recurring gains of RMB 101,183,710, primarily from government subsidies and other income[22]. - In the first half of 2023, the company's revenue was approximately RMB 6.915 billion, an increase of about 8.20% compared to RMB 6.391 billion in the same period of 2022[33]. - The company's gross profit margin improved from 22.46% in the first half of 2022 to approximately 26.09% in the first half of 2023[33]. - The overseas business revenue reached approximately RMB 2.439 billion in the first half of 2023, a growth of about 11.58% compared to RMB 2.186 billion in the same period last year, accounting for 35.27% of total revenue[37]. - The company secured approximately 19.4% of the bidding share in China Mobile's centralized procurement for ordinary optical cables for 2023-2024, ranking first[34]. Research and Development - Research and development expenses rose by 14.87% to RMB 367,564,667, compared to RMB 319,975,203 in the previous year[39]. - The company has allocated 200 million yuan for research and development in new technologies, focusing on enhancing fiber optic performance and reducing production costs[75]. - The company has developed multi-core and few-mode optical fibers, achieving mass production capabilities to meet the increasing demand for optical fiber transmission capacity[36]. - The company’s subsidiary, Bochuang Technology, has achieved leading domestic shipment volumes for 10G PON OLT optical modules and has begun large-scale sales of 25G and 50G optical modules for 5G applications[37]. Market and Strategic Developments - As of June 2023, the number of 5G mobile phone users in China reached 676 million, with a net increase of 115 million users compared to the end of 2022[23]. - The average mobile internet access traffic per user reached 16.78 GB per month in June 2023, representing a year-on-year growth of 12.8%[23]. - The global demand for optical fiber and cable is expected to exceed 600 million core kilometers by 2025, indicating strong long-term growth potential in the industry[24]. - The company has established multiple overseas offices and production bases since 2018, enhancing its international sales capabilities and brand recognition[28]. - The company is actively pursuing market expansion strategies, targeting Southeast Asia, with plans to establish a local office by Q4 2023[76]. Financial Position and Risks - The company's asset-liability ratio increased to 51.96% from 48.46% at the end of the previous year, reflecting a 7.22% rise[101]. - The current ratio decreased by 14.14% to 1.64, down from 1.91 at the end of the previous year[101]. - The company faces market risks due to the evolving 5G application scenarios and potential price declines in terminal products, which could adversely affect operational performance[52]. - Policy risks are present as changes in national investment policies regarding communication infrastructure could negatively impact the company's business development[53]. - Financial risks include a significant amount of accounts receivable, which could adversely affect operational performance if not collected on time[55]. Environmental Management - The company has implemented a comprehensive environmental management system, achieving compliance with national environmental standards for wastewater, waste gas, and noise emissions[65]. - The company has upgraded its low-voltage power distribution system, resulting in a carbon emission reduction of approximately 10 tons from the replacement of one transformer with a high-efficiency model[70]. - The heat recovery project at the air compressor station saved approximately 103 tons of carbon emissions by utilizing waste heat for heating the air conditioning system[71]. - The company has established an effective environmental emergency response plan, which has not been activated during the reporting period[68]. - The company conducts quarterly environmental monitoring at its main facility in Hubei, with results consistently exceeding national standards[68]. Corporate Governance and Compliance - The company has implemented a new corporate governance policy to enhance transparency and compliance, ensuring adherence to regulatory standards[75]. - The company reported a daily related party transaction limit of CNY 600 million for sales of goods, with an actual amount of CNY 173,498,777 during the reporting period[82]. - The company had no major litigation or arbitration matters during the reporting period[79]. - The company has not proposed any profit distribution or capital reserve transfer plans for the first half of 2023[62]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 26,353[90]. - Major shareholders include China Huaxin Post and Telecommunications Technology Co., Ltd. with a 23.73% stake, Wuhan Changjiang Communication Industry Group Co., Ltd. with 15.82%, and Draka Comteq B.V. with 23.73%[133]. - The total equity attributable to shareholders reached CNY 10,510,256,814, an increase of 3.6% from CNY 10,144,245,884[108]. Accounting Policies - The company adheres to the accounting standards for enterprises, ensuring that the financial statements accurately reflect its financial position and operating results[136]. - The company has established a comprehensive accounting policy for the recognition and measurement of bad debt provisions, inventory measurement, and depreciation of fixed assets[135]. - The company recognizes revenue when control of goods or services is transferred to customers, which occurs upon delivery and acceptance[174]. - The company assesses expected credit losses based on historical credit loss experience and adjusts for current conditions and future economic forecasts[147].