[Performance Highlights](index=3&type=section&id=%E6%91%98%E8%A6%81) In the first three quarters of 2021, the Group achieved substantial year-on-year growth in total operating revenue and a significant narrowing of net loss, primarily driven by strong antenna product sales, with the Board deciding against an interim dividend Key Financial Indicators | Metric | Q1-Q3 2021 (RMB million) | Q1-Q3 2020 (RMB million) | Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | Approx. 26.04 | Approx. 6.15 | +323% | | Net Loss | Approx. 14.13 | Approx. 20.92 | Loss narrowed by 32.5% | - The Board does not recommend declaring a dividend for the nine months ended September 30, 2021[4](index=4&type=chunk) [Consolidated Financial Statements](index=4&type=section&id=%E5%90%88%E5%B9%B6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) [Consolidated Balance Sheet](index=4&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, 2021, the company's total assets increased by 6.6% to RMB 113.25 million from the beginning of the year, primarily driven by current assets, while total liabilities rose from RMB 61.28 million to RMB 82.43 million, leading to a decrease in shareholders' equity from RMB 44.94 million to RMB 30.82 million Key Balance Sheet Items | Key Balance Sheet Items (RMB million) | Sep 30, 2021 | Dec 31, 2020 | | :--- | :--- | :--- | | **Current Assets** | 37.35 | 18.24 | | Of which: Accounts Receivable | 14.50 | 2.17 | | Inventories | 16.33 | 7.84 | | **Non-current Assets** | 75.90 | 87.99 | | **Total Assets** | **113.25** | **106.22** | | **Current Liabilities** | 78.44 | 53.98 | | Of which: Accounts Payable | 19.41 | 11.36 | | **Total Liabilities** | **82.43** | **61.28** | | **Total Shareholders' Equity** | **30.82** | **44.94** | [Consolidated Income Statement](index=6&type=section&id=%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) In the first three quarters of 2021, total operating revenue significantly increased by 323% to RMB 26.04 million, and despite a rise in total operating costs from RMB 29.49 million to RMB 41.06 million, net loss attributable to owners of the parent company narrowed from RMB 20.46 million to RMB 14.10 million, with improved basic earnings per share Key Income Statement Items | Key Income Statement Items (RMB million) | Q1-Q3 2021 | Q1-Q3 2020 | | :--- | :--- | :--- | | Total Operating Revenue | 26.04 | 6.15 | | Total Operating Costs | 41.06 | 29.49 | | Of which: Operating Costs | 17.10 | 5.47 | | Administrative Expenses | 10.47 | 14.76 | | Research and Development Expenses | 9.99 | 8.65 | | Operating Profit (Loss) | (14.17) | (21.01) | | Net Profit (Net Loss) | (14.13) | (20.92) | | Net Profit (Net Loss) Attributable to Parent Company Owners | (14.10) | (20.46) | | Basic Earnings Per Share (RMB/share) | (0.00743) | (0.01117) | [Consolidated Cash Flow Statement](index=7&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 2021, net cash flow from operating activities was a negative RMB 20.17 million, with increased outflows primarily due to higher purchases and employee compensation, while net cash inflow from financing activities reached RMB 17.87 million, mainly from capital contributions and borrowings, supporting the company's funding needs, resulting in a cash and cash equivalents balance of RMB 1.73 million at period-end Key Cash Flow Items | Cash Flow Items (RMB million) | Q1-Q3 2021 | Q1-Q3 2020 | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | (20.17) | (10.90) | | Net Cash Flow from Investing Activities | 1.86 | 7.37 | | Net Cash Flow from Financing Activities | 17.87 | 1.15 | | **Net Increase (Decrease) in Cash and Cash Equivalents** | **(0.34)** | **(2.38)** | | **Cash and Cash Equivalents at Period-End** | **1.73** | **3.29** | [Consolidated Statement of Changes in Equity](index=10&type=section&id=%E5%90%88%E5%B9%B6%E8%82%A1%E4%B8%9C%E6%9D%83%E7%9B%8A%E5%8F%98%E5%8A%A8%E8%A1%A8) As of September 30, 2021, total shareholders' equity decreased to RMB 30.82 million from RMB 44.94 million at the beginning of the year, primarily due to the net loss incurred during the period, which further reduced retained earnings from negative RMB 346 million to negative RMB 361 million - Total shareholders' equity decreased from **RMB 44.94 million** at the beginning of the year to **RMB 30.82 million** at period-end, primarily due to a **RMB 14.10 million** net loss incurred during the period, which reduced retained earnings[10](index=10&type=chunk)[11](index=11&type=chunk)[27](index=27&type=chunk) [Notes to the Financial Statements](index=11&type=section&id=%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E9%99%84%E6%B3%A8) [Company Overview and Basis of Preparation](index=11&type=section&id=1.%20%E6%9C%AC%E5%85%AC%E5%8F%B8%E7%9A%84%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) Established in 1999 and listed on Hong Kong GEM in 2003, the company's main business spans mobile communication antennas, microwave technology, and communication electronic products, with financial statements prepared on a going concern basis in accordance with Chinese Accounting Standards and RMB as the functional currency - The company's business scope is extensive, primarily including mobile communication system antennas, microwave technology products, communication electronic products, data communication products, underwater engineering and monitoring equipment, and aerospace products[29](index=29&type=chunk) - The financial statements are prepared on a going concern basis and in accordance with the Accounting Standards for Business Enterprises issued by the Ministry of Finance of China and the disclosure requirements of the Hong Kong GEM Listing Rules[30](index=30&type=chunk) [Share Capital Structure](index=12&type=section&id=3.%20%E8%82%A1%E6%9C%AC) As of September 30, 2021, the company's total share capital remained unchanged at RMB 189.76 million, with domestic shares accounting for approximately 65.97% and H-shares for approximately 34.03% Share Capital Breakdown | Share Class | Number of Shares | Approximate Percentage of Total Share Capital | | :--- | :--- | :--- | | Domestic Shares | 125,186,429.40 | 65.97% | | H-Shares | 64,576,470.60 | 34.03% | | **Total** | **189,762,900.00** | **100.00%** | [Analysis of Key Income Statement Items](index=13&type=section&id=4.%20%E7%87%9F%E6%A5%AD%E6%94%B6%E5%85%A5%E3%80%81%E7%87%9F%E6%A5%AD%E6%88%90%E6%9C%AC) In the first three quarters of 2021, main business revenue grew by 321% year-on-year to RMB 25.38 million, while selling expenses increased by 841% to RMB 3.32 million due to business expansion, management expenses decreased by 29% to RMB 10.47 million through internal resource allocation, and R&D expenses increased by 15% to RMB 9.99 million, reflecting continued investment in antenna product improvements Main Business Revenue and Cost | Item (RMB million) | Q1-Q3 2021 | Q1-Q3 2020 | | :--- | :--- | :--- | | Main Business Revenue | 25.38 | 6.03 | | Main Business Cost | 16.76 | 5.47 | - Selling expenses significantly increased from **RMB 0.35 million** in the prior period to **RMB 3.32 million**, primarily due to increased employee compensation, procurement activities, and transportation costs following the expansion of the antenna product sales team[41](index=41&type=chunk)[69](index=69&type=chunk) - Management expenses decreased from **RMB 14.76 million** in the prior period to **RMB 10.47 million**, mainly due to reduced office rental expenses through internal resource allocation[43](index=43&type=chunk)[72](index=72&type=chunk) - Research and development expenses increased from **RMB 8.65 million** in the prior period to **RMB 9.99 million**, primarily for further improvement and development of antenna products[45](index=45&type=chunk)[69](index=69&type=chunk) [Segment Information](index=20&type=section&id=19.%20%E5%88%86%E9%83%A8%E4%BF%A1%E6%81%AF) In the first three quarters of 2021, the company's business structure significantly shifted, with antenna product sales and services becoming the core business, generating RMB 14.91 million in revenue (58% of main revenue), while agricultural product sales also grew to RMB 10.40 million (41%), and despite high growth, the antenna business recorded a RMB 4.79 million loss, whereas the agricultural product business turned profitable with RMB 0.04 million in profit Segment Main Business Revenue | Segment Main Business Revenue (RMB million) | Q1-Q3 2021 | Percentage | | :--- | :--- | :--- | | Antenna Product Sales and Related Services | 14.91 | 58.8% | | Agricultural Product Sales | 10.40 | 41.0% | | Underwater Monitoring and Related Product Sales | 0.07 | 0.2% | | **Total Main Business Revenue** | **25.38** | **100%** | Segment Profit/Loss | Segment Profit/Loss (RMB million) | Q1-Q3 2021 | | :--- | :--- | | Antenna Product Sales and Related Services | (4.79) | | Agricultural Product Sales | 0.04 | | Underwater Monitoring and Related Product Sales | (0.31) | | Aircraft Product Sales | (0.52) | | **Total Segment Profit (Loss)** | **(5.57)** | [Earnings Per Share and Dividends](index=21&type=section&id=20.%20%E6%AF%8F%E8%82%A1%E6%94%B6%E7%9B%8A) In the first three quarters of 2021, net loss attributable to owners of the parent company was RMB 14.10 million, resulting in a basic and diluted loss per share of RMB 0.00743, which narrowed from RMB 0.01117 in the prior period, and the Board decided not to declare a dividend for the nine months ended September 30, 2021 - Basic loss per share was **RMB 0.00743/share**, compared to **RMB 0.01117/share** in the prior period[62](index=62&type=chunk) - The Board does not recommend declaring a dividend for the current period[63](index=63&type=chunk) [Management Discussion and Analysis](index=22&type=section&id=%E7%AE%A1%E7%90%86%E5%B1%82%E8%AE%A8%E8%AE%BA%E5%8F%8A%E5%88%86%E6%9E%90) [Business Review](index=22&type=section&id=%E4%B8%9A%E5%8A%A1%E5%9B%9E%E9%A1%BE) During the reporting period, the Group's performance significantly improved, with total operating revenue increasing by 423% year-on-year and gross profit margin rising from 11.10% to 34.32%, primarily driven by the antenna product segment's over 12-fold revenue growth, while the agricultural product segment also achieved revenue growth and profitability through channel optimization, and despite overall improvement, the antenna business still recorded an operating loss due to climbing capacity utilization post-expansion, with management expenses effectively reduced through resource optimization [Overall Performance](index=22&type=section&id=%E7%87%9F%E6%A5%AD%E7%B8%BD%E6%94%B6%E5%85%A5) For the nine months ended September 30, 2021, total operating revenue increased by 423% year-on-year to RMB 26.04 million, with gross profit of approximately RMB 8.94 million and a significant increase in gross profit margin from 11.10% to 34.32%, primarily due to a substantial increase in high-margin antenna product sales, ultimately narrowing the Group's net loss from RMB 20.92 million to RMB 14.13 million Key Performance Indicators | Metric | Q1-Q3 2021 | Q1-Q3 2020 | | :--- | :--- | :--- | | Total Operating Revenue | Approx. 26.04 RMB million | Approx. 6.15 RMB million | | Gross Profit | Approx. 8.94 RMB million | Approx. 0.68 RMB million | | Gross Profit Margin | 34.32% | 11.10% | - Despite significant increases in revenue and gross profit, the Group still recorded a net loss of **RMB 14.13 million** as the expanded production scale did not generate sufficient revenue to cover all operating costs and expenses[75](index=75&type=chunk) [Segment Performance Analysis](index=22&type=section&id=%E5%88%86%E9%83%A8%E4%B8%9A%E7%B8%BE) The antenna product segment became the core growth driver, with revenue soaring from RMB 1.11 million to RMB 14.91 million, accounting for 58% of main revenue, but still recorded a RMB 4.79 million loss due to underutilized expanded capacity caused by delayed procurement from communication operators, while the agricultural product segment achieved profitability with RMB 0.04 million in profit on revenue growth to RMB 10.40 million through channel optimization, and underwater monitoring and aircraft product segments remained in R&D and technical support phases with no significant revenue contribution, recording losses - Antenna product segment: Revenue increased from approximately **RMB 1.11 million** to **RMB 14.91 million**, but recorded a segment loss of approximately **RMB 4.79 million** due to insufficient capacity utilization[65](index=65&type=chunk)[69](index=69&type=chunk) - Agricultural product segment: Revenue increased from approximately **RMB 3.38 million** to **RMB 10.40 million**, and achieved profitability with a segment profit of approximately **RMB 0.04 million**[66](index=66&type=chunk)[71](index=71&type=chunk) - Underwater monitoring and aircraft product segments: Did not generate significant operating revenue, recording segment losses of approximately **RMB 0.31 million** and **RMB 0.52 million**, respectively[65](index=65&type=chunk)[71](index=71&type=chunk) [Expenses and Other Income/Expenses](index=23&type=section&id=%E5%85%B6%E4%BB%96%E8%B4%B9%E7%94%A8%E3%80%81%E6%94%AF%E5%87%BA%E3%80%81%E6%94%B6%E7%9B%8A%E5%8F%8A%E6%94%B6%E5%85%A5) Period expenses showed divergence: selling expenses increased over 8-fold year-on-year to RMB 3.32 million due to antenna business expansion, management expenses decreased by 29% year-on-year to RMB 10.47 million due to internal resource allocation, and R&D expenses increased by 15% year-on-year to RMB 9.99 million, reflecting continued investment in antenna products, additionally, the company sold some financial assets to meet working capital needs, recognizing RMB 0.27 million in investment income - Selling expenses increased to **RMB 3.32 million** (prior period: **RMB 0.35 million**), management expenses decreased to **RMB 10.47 million** (prior period: **RMB 14.76 million**), and R&D expenses increased to **RMB 9.99 million** (prior period: **RMB 8.65 million**)[69](index=69&type=chunk)[72](index=72&type=chunk) - To meet working capital needs, the company sold financial assets previously measured at fair value, recognizing approximately **RMB 0.27 million** in investment income[73](index=73&type=chunk) [Business Outlook](index=26&type=section&id=%E5%B1%95%E6%9C%9B) Looking ahead, the company will focus on its core communication business, continue to promote lens antennas, having successfully bid on projects for Henan Unicom and Heilongjiang Unicom, and plans to seize the historical opportunity of 5G new infrastructure to develop communication antennas and derivative products for 4G, 5G, and other fields based on new material lens technology, while considering various financing channels such as share issuance, bank loans, and asset revitalization to support business development - Market Strategy: Actively participating in operator tenders, having successfully bid on the Henan Unicom Longbo lens antenna procurement project and China Unicom Heilongjiang Shuangyashan high-speed rail coverage project, laying the foundation for expanding into the North China and Northeast markets[78](index=78&type=chunk) - Product and Technology Strategy: Seizing the opportunity of 5G new infrastructure, developing communication antennas for different frequency bands based on new material lenses, and expanding the application of related derivative products in various industries[79](index=79&type=chunk) - Financing Plan: Will consider various financing methods such as additional share issuance, bank loans, and revitalization of existing assets as needed to ensure business development[81](index=81&type=chunk) [Other Disclosure Matters](index=27&type=section&id=%E5%85%B6%E4%BB%96%E6%8A%AB%E9%9C%B2%E4%BA%8B%E9%A0%85) [Shareholding of Directors, Supervisors, and Major Shareholders](index=27&type=section&id=%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%A3%E4%BA%8B%E6%9C%83%E6%88%90%E5%93%A1%EF%BC%88%E3%80%8C%E7%9B%A3%E4%BA%8B%E3%80%8D%EF%BC%89%E5%8F%8A%E8%A1%8C%E6%94%BF%E7%B8%BD%E8%A3%81%E6%96%BC%E6%9C%AC%E5%85%AC%E5%8F%B8%E5%8F%8A%E5%85%B6%E7%9B%B8%E8%81%AF%E6%B3%95%E5%9C%98%E8%82%A1%E4%BB%BD%E3%80%81%E7%9B%B8%E9%97%9C%E8%82%A1%E4%BB%BD%E5%8F%8A%E5%80%B5%E5%88%B8%E4%B9%8B%E6%AC%8A%E7%9B%8A%E5%8F%8A%E6%B7%A1%E5%80%89) The report details the long and short positions of the company's directors, supervisors, CEO, and major shareholders in the company's shares (domestic and H-shares) as of September 30, 2021, with Executive Directors Mr. Xiao Bing and Mr. Chen Ji and their associates holding significant interests in domestic and H-shares, and Mr. Chen Ji and his associates also holding short positions in H-shares through derivative instruments Directors' and Major Shareholders' Interests | Name | Identity | Share Class Held | Number of Shares Held | Approximate Percentage of Total Share Capital | | :--- | :--- | :--- | :--- | :--- | | Mr. Xiao Bing | Beneficial Owner, Family and Controlled Company Interests | Domestic Shares | 550,832,335 | 29.03% | | | Beneficial Owner | H-Shares | 10,000,000 | 0.53% | | Mr. Chen Ji | Controlled Company Interests | Domestic Shares | 273,344,804 | 14.40% | | | Beneficial Owner, Spouse and Controlled Company Interests | H-Shares | 46,371,000 | 2.44% | - Mr. Chen Ji holds a short position of **36,300,000** relevant H-shares through his controlled company, representing **5.62%** of all issued H-shares[84](index=84&type=chunk)[88](index=88&type=chunk) - Among major shareholders, excluding directors' associates, Xi'an International Medical Investment Co., Ltd. holds **5.27%** of the shares, representing a significant institutional shareholder[90](index=90&type=chunk)[92](index=92&type=chunk) [Corporate Governance](index=36&type=section&id=%E4%BC%81%E4%B8%9A%E7%AE%A1%E6%B2%BB%E5%B8%B8%E8%A6%8F%E5%AE%88%E5%89%87) The company complied with the Corporate Governance Code set out in Appendix 15 of the GEM Listing Rules during the reporting period, with an Audit Committee comprising two independent non-executive directors and one non-executive director responsible for overseeing financial reporting and internal controls, which has reviewed the quarterly results and deemed their preparation compliant with accounting standards and adequately disclosed - The company has complied with the Corporate Governance Code and Corporate Governance Report provisions set out in Appendix 15 of the GEM Listing Rules[108](index=108&type=chunk) - The company has adopted a code of conduct for directors' securities transactions, and upon inquiry, all directors have complied with the relevant provisions[109](index=109&type=chunk) - The Audit Committee, comprising Independent Non-executive Directors Professor Shi Ping and Mr. Liu Lidong, and Non-executive Director Mr. Xu Xiong, has reviewed the unaudited consolidated results for the quarter[111](index=111&type=chunk)

西 安 海 天 天 綫 科 技 股 份 有 限 公 司 Xi'an Haitian Antenna Technologies Co., Ltd.* (於中華人民共和國註冊成立之股份有限公司) (股份代號：8227) 中 期 報 告 優供識別 香港聯合交易所有限公司（「聯交所」）GEM（「GEM」）的特色 GEM之定位，乃為中小型公司提供一個上市之市場，此等公司相比起其他在聯交所上 市之公司帶有較高投資風險。有意投資之人士應了解投資於該等公司之潛在風險，並 應經過審慎周詳之考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣之證券可能會較於聯交所主板買賣 之證券承受較大之市場波動風險，同時無法保證在GEM買賣之證券會有高流通量之市 場。 香港交易及結算所有限公司及聯交所對��告之內容概不負責，對其準確性或完整性 亦不發表任何聲明，並明確表示概不就因��告全部或任何部分內容而產生或因倚賴 該等內容而引致之任何損失承擔任何責任。 ��告之資料乃遵照GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供有關西安 海天天綫科技股份有限公司（「本公司」）之資料，各本公司董事（「董事」）願就��告之 ...

[First Quarter Performance Highlights](index=3&type=section&id=First%20Quarter%20Performance%20Highlights) The Group achieved significant revenue growth in Q1 2021, with total operating revenue increasing nearly 4.5 times year-over-year, while net loss significantly narrowed, primarily due to strong performance in the core antenna product business; the Board decided not to declare a dividend for this quarter Key Performance Indicators for Q1 2021 | Indicator | Q1 2021 (RMB Million) | Q1 2020 (RMB Million) | Year-over-Year Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | Approx. 7.84 | Approx. 1.78 | +341% | | Net Loss | Approx. 2.79 | Approx. 4.76 | Loss Narrowed 41.4% | - The Board does not recommend declaring a dividend for the three months ended March 31, 2021[5](index=5&type=chunk) [Consolidated Financial Statements](index=4&type=section&id=Consolidated%20Financial%20Statements) The Group's consolidated financial statements as of March 31, 2021, show growth in both assets and liabilities, with a significant revenue increase leading to a narrower loss on the income statement, and increased operating cash outflows supplemented by financing activities on the cash flow statement [Consolidated Balance Sheet](index=4&type=section&id=Consolidated%20Balance%20Sheet) As of March 31, 2021, the Group's total assets increased to RMB 116.5 million, primarily driven by an increase in current assets like accounts receivable, while total liabilities also grew to RMB 74.35 million, resulting in a slight decrease in total shareholders' equity to RMB 42.15 million Key Balance Sheet Items (Unit: RMB) | Item | March 31, 2021 | December 31, 2020 | Change | | :--- | :--- | :--- | :--- | | Total Current Assets | 31,403,079.11 | 18,237,659.31 | +72.2% | | Total Assets | 116,501,541.52 | 106,223,494.95 | +9.7% | | Total Current Liabilities | 67,157,559.42 | 53,981,039.65 | +24.4% | | Total Liabilities | 74,349,803.53 | 61,281,943.49 | +21.3% | | Total Shareholders' Equity | 42,151,737.99 | 44,941,551.46 | -6.2% | [Consolidated Income Statement](index=6&type=section&id=Consolidated%20Income%20Statement) In Q1 2021, the Group's total operating revenue surged 341% year-over-year to RMB 7.84 million; despite increased operating costs, strong revenue growth significantly narrowed both operating and net losses, with net loss decreasing from RMB 4.76 million to RMB 2.79 million compared to the prior year Key Income Statement Items (Unit: RMB) | Item | Q1 2021 | Q1 2020 | Year-over-Year Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 7,841,018.43 | 1,776,680.01 | +341.3% | | Operating Profit (Loss) | (2,847,402.16) | (4,769,088.41) | Loss Narrowed 40.3% | | Net Profit (Loss) | (2,789,813.47) | (4,760,831.93) | Loss Narrowed 41.4% | | Basic Earnings Per Share | (0.00146) | (0.00268) | Loss Narrowed | [Consolidated Cash Flow Statement](index=8&type=section&id=Consolidated%20Cash%20Flow%20Statement) In Q1 2021, net cash flow from operating activities was an outflow of RMB 9.17 million, an increase in outflow year-over-year; however, the Group obtained a net cash inflow of RMB 10.77 million from financing activities, primarily through capital contributions, resulting in a net increase of RMB 1.52 million in cash and cash equivalents at period-end Key Cash Flow Statement Items (Unit: RMB) | Item | Q1 2021 | Q1 2020 | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | (9,167,649.84) | (3,410,326.36) | | Net Cash Flow from Investing Activities | (120,837.00) | (194,062.91) | | Net Cash Flow from Financing Activities | 10,769,260.70 | 885,121.80 | | Net Increase in Cash and Cash Equivalents | 1,515,448.58 | (2,717,777.47) | [Notes to the Financial Statements](index=11&type=section&id=Notes%20to%20the%20Financial%20Statements) The notes to the financial statements detail the company's accounting policies, the composition and changes in key accounts, and provide critical segment information, highlighting antenna products as the core source of revenue and profit, along with explanations of earnings per share calculation and dividend policy [Company Overview and Accounting Policies](index=11&type=section&id=Company%20Overview%20and%20Accounting%20Policies) Established in 1999, the company's H-shares were listed on GEM in 2003, with its main business encompassing R&D, production, and sales of mobile communication antennas and microwave technology products; financial statements are prepared on a going concern basis under Chinese Accounting Standards for Business Enterprises, with RMB as the functional currency - The company's business scope primarily includes the research, development, production, sales, installation, testing, and services of mobile communication system antennas and related products[23](index=23&type=chunk) - Financial statements are prepared in accordance with Chinese Accounting Standards for Business Enterprises and the requirements of the Hong Kong GEM Listing Rules, with RMB as the functional currency[24](index=24&type=chunk)[25](index=25&type=chunk) [Segment Information](index=19&type=section&id=Segment%20Information) The Group's operations are divided into four segments; in Q1 2021, antenna product sales and services were the absolute core, contributing most revenue and all profit, while agricultural product sales provided stable revenue but incurred a slight loss, and underwater monitoring and aircraft product sales segments generated no revenue this period Q1 2021 Segment Revenue and Profit (Unit: RMB) | Operating Segment | Main Business Revenue | Segment Profit (Loss) | | :--- | :--- | :--- | | Antenna Product Sales and Related Services | 6,032,137.89 | 472,103.09 | | Agricultural Product Sales | 1,679,737.69 | (11,420.64) | | Underwater Monitoring and Related Product Sales | – | (85,776.83) | | Aircraft Product Sales | – | (163,493.63) | [Earnings Per Share and Dividends](index=19&type=section&id=Earnings%20Per%20Share%20and%20Dividends) Basic loss per share for Q1 2021 was RMB 0.00146, an improvement from RMB 0.00268 in the prior year, with diluted earnings per share being identical to basic earnings per share due to the absence of any potentially dilutive shares; the Board does not recommend declaring a dividend for this quarter - Basic earnings per share is calculated based on the net loss attributable to owners of the parent of **RMB (2,767,107.24)** and the weighted average number of issued shares of **1,897,629,000**[56](index=56&type=chunk) - The Board does not recommend declaring a dividend for the three months ended March 31, 2021[57](index=57&type=chunk) [Management Discussion and Analysis](index=20&type=section&id=Management%20Discussion%20and%20Analysis) Management reviewed the quarter's operating performance, attributing significant revenue growth to the successful market launch of the dielectric lens antenna product, developed over seven years; gross margin significantly improved, expenses were effectively controlled, leading to a narrowed loss, and the company plans to strategically focus on the antenna business and explore various financing channels to support future development [Business Review](index=20&type=section&id=Business%20Review) This quarter's business performance was outstanding, with total operating revenue increasing **441%** year-over-year, primarily driven by sales of dielectric lens antenna products, whose segment revenue grew **809%** year-over-year; gross margin significantly improved from **4.84%** to **54.03%**, and despite some expense increases due to business expansion, overall profitability improved, successfully narrowing net loss [Overall Performance and Core Products](index=20&type=section&id=Overall%20Performance%20and%20Core%20Products) Total operating revenue increased **441%** year-over-year to approximately **RMB 7.84 million**, with the core driver being the Group's proprietary artificial dielectric lens antenna series products, developed over seven years, which have gained widespread customer recognition since their 2019 market launch and generated approximately **RMB 6.03 million** in revenue in Q1 2021 - The Group spent **7 years** developing the artificial dielectric lens antenna series products, featuring low power consumption and high gain, effectively addressing pain points in **5G** construction[59](index=59&type=chunk) - Dielectric lens antennas have secured cumulative sales orders of approximately **RMB 13.63 million**, with approximately **RMB 6.03 million** recognized as operating revenue in Q1 2021[60](index=60&type=chunk) [Segment Performance Analysis](index=20&type=section&id=Segment%20Performance%20Analysis) The antenna product segment became the absolute growth engine, accounting for **78%** of revenue and growing **809%** year-over-year; the agricultural product sales segment served as a stable revenue source, accounting for **22%** of revenue and growing **71%** year-over-year, while the underwater monitoring and aircraft product segments generated no revenue this quarter to focus resources on core business development - Revenue from the antenna product sales segment accounted for approximately **78%** of main business revenue, an increase of approximately **809%** compared to the same period in 2020[60](index=60&type=chunk) - Revenue from the agricultural product sales segment was approximately **RMB 1.68 million**, accounting for approximately **22%** of main business revenue, an increase of approximately **71%** compared to the same period in 2020[65](index=65&type=chunk) - To support the production of dielectric lens antennas, the Group reallocated some resources from the underwater monitoring and aircraft product segments to the antenna product segment[62](index=62&type=chunk) [Profitability and Expense Analysis](index=22&type=section&id=Profitability%20and%20Expense%20Analysis) Benefiting from an increased sales proportion of high-value-added antenna products, this quarter's gross margin surged from **4.84%** in the prior year to **54.03%**; sales expenses increased due to business expansion, while administrative expenses decreased due to internal resource integration, ultimately narrowing the Group's net loss from **RMB 4.76 million** to **RMB 2.79 million** - Gross margin significantly improved from **4.84%** in the same period of 2020 to approximately **54.03%**, primarily due to a substantial increase in antenna product sales revenue[66](index=66&type=chunk) - Sales expenses increased year-over-year, mainly due to higher staff salaries and transportation costs for antenna product sales; administrative expenses decreased year-over-year due to reduced office rental-related expenses[67](index=67&type=chunk)[71](index=71&type=chunk) - Despite a decrease in fair value change gains, a significant increase in total operating revenue led to the Group's net loss narrowing from **RMB 4.76 million** in the prior year to **RMB 2.79 million**[73](index=73&type=chunk) [Business Outlook](index=25&type=section&id=Business%20Outlook) Looking ahead, the Group has strategically adjusted to fully focus on the core dielectric lens antenna business, aiming to secure more order shares in bidding and procurement, while also continuing to expand agricultural product sales to enhance performance; to ensure operations and development, the company will closely monitor working capital needs and consider various financing channels such as bank loans, share placements, and bond issuance - The Group will prioritize the antenna product sales and related services operating segment for development and believes it can secure a larger share of orders[79](index=79&type=chunk) - The Group will strive to expand the customer base for the agricultural product sales segment and actively develop this business[79](index=79&type=chunk) - To meet working capital needs, the Group will consider financing through channels such as bank loans, share placements, and bond issuance[79](index=79&type=chunk) [Equity and Corporate Governance](index=25&type=section&id=Equity%20and%20Corporate%20Governance) This section details the shareholdings of the company's directors, supervisors, and major shareholders as of March 31, 2021, providing transparent equity structure information; concurrently, the company confirmed compliance with the Corporate Governance Code during the reporting period, with the Audit Committee reviewing the quarter's performance to ensure compliance and financial reporting rigor [Shareholdings of Directors, Supervisors, and Major Shareholders](index=25&type=section&id=Shareholdings%20of%20Directors%2C%20Supervisors%2C%20and%20Major%20Shareholders) This section details the long and short positions of directors, supervisors, chief executive, and major shareholders in the company's domestic shares and H-shares, as required by the Securities and Futures Ordinance; the disclosed information covers beneficial owners, controlled corporate interests, and associated party interests, clearly presenting the company's main equity distribution Overview of Shareholdings by Directors and Major Shareholders (As of March 31, 2021) | Name/Entity | Capacity/Relationship | Share Type | Number of Shares Held | Approximate Percentage of Total Share Capital | | :--- | :--- | :--- | :--- | :--- | | Mr. Xiao Bing | Chairman | Domestic Shares (Long Position) | 550,832,335 | 29.03% | | Mr. Chen Ji | Executive Director | Domestic Shares (Long Position) | 273,344,804 | 14.40% | | Mr. Chen Ji | Executive Director | H-Shares (Long Position) | 46,371,000 | 2.44% | | Mr. Chen Ji | Executive Director | H-Shares (Short Position) | 36,300,000 | 1.91% | | Huang Lihou | Major Shareholder | H-Shares (Long Position) | 85,100,000 | 4.48% | | Hong Kong Jinsheng Enterprise Co., Ltd. | Major Shareholder | H-Shares (Long Position) | 70,752,000 | 3.73% | [Corporate Governance and Compliance](index=34&type=section&id=Corporate%20Governance%20and%20Compliance) The company complied with the Corporate Governance Code set out in Appendix 15 of the GEM Listing Rules during the reporting period; an Audit Committee, comprising two independent non-executive directors and one non-executive director, was established to oversee financial reporting processes and internal controls, and has reviewed the unaudited consolidated results for this quarter - For the three months ended March 31, 2021, the company complied with the Corporate Governance Code and the code provisions set out in the Corporate Governance Report, as contained in Appendix 15 of the GEM Listing Rules[106](index=106&type=chunk) - The Audit Committee, comprising Independent Non-executive Directors Professor Shi Ping and Professor Lei Zhenya, and Non-executive Director Mr. Xu Xiong, has reviewed the unaudited consolidated results for this quarter[109](index=109&type=chunk) - The company has adopted a code of conduct regarding directors' securities transactions and, following inquiry, is unaware of any non-compliance[107](index=107&type=chunk)

西 安 海 天 天 綫 科 技 股 份 有 限 公 司 Xi'an Haitian Antenna Technologies Co., Ltd.* (於中華人民共和國註冊成立之股份有限公司) (股份代號：8227) 【值供購別】 香港聯合交易所有限公司（「聯交所」）GEM（「GEM」）的特色 1 西安海天天綫科技股份有限公司 GEM的定位是為較其他於聯交所上市的公司帶有較高投資風險的中小型公司而設的市場。有意投資的人士應瞭解 投資於該等公司的潛在風險，並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司通常為中小型公司，在GEM買賣的證券可能會承受較在聯交所主板買賣的證券為高的市場波動 風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司以及聯交所對本報告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確 表示概不會就因本報告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 本報告包括遵照聯交所GEM證券上市規則（「GEM上市規則」）的規定所提供有關西安海天天綫科技股份有限公司 （「本公司」）的資料。本公司各董事（「董事」）願共同及個別對本報 ...

西 安 海 天 天 綫 科 技 股 份 有 限 公 司 Xi'an Haitian Antenna Technologies Co., Ltd.* (於中華人民共和國註冊成立之股份有限公司) (股份代號：8227) 20 击 第 "匪供藏別 香港聯合交易所有限公司（「聯交所」）GEM（「GEM 」）的特色 GEM的定位是為較其他於聯交所上市的公司帶有較高投資風險的中小型公司而設的市 場。有意投資的人士應瞭解投資於該等公司的潛在風險，並應經過審慎周詳的考慮後方 作出投資決定。 由於GEM上市公司通常為中小型公司，在GEM買賣的證券可能會承受較在聯交所主板 買賣的證券為高的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市 場。 香港交易及結算所有限公司及聯交所對本報告之內容概不負責，對其準確性或完整性 亦不發表任何聲明，並明確表示概不就因本報告全部或任何部份內容而產生或因倚賴 該等內容而引致之任何損失承擔任何責任。 本報告包括遵照GEM證券上市規則（「GEM上市規則」）的規定所提供有關西安海天天 綫科技股份有限公司（「本公司」）的資料。本公司各董事（「董事」）願共同及個別對本報 告負全責，並經作出一切 ...

西安海天天綫科技股份有限公司 Xi'an Haitian Antenna Technologies Co., Ltd.* (a joint stock limited company incorporated in the People's Republic of China with limited liability) (Stock Code: 8227) 2020 中期報告 INTERIM REPORT * for identication purposes only 西安海天天綫科技股份有限公司 Xi'an Haitian Antenna Technologies Co., Ltd.* （於中華人民共和國註冊成立之股份有限公司） （股份代號：8227） 2020 僅供識別 香港聯合交易所有限公司（「聯交所」）GEM（「GEM 」）的特色 GEM的定位是為較其他於聯交所上市的公司帶有較高投資風險的中小型公司而設的市 場。有意投資的人士應瞭解投資於該等公司的潛在風險，並應經過審慎周詳的考慮後方 作出投資決定。 由於GEM上市公司通常為中小型公司，在GEM買賣的證券可能會承受較在聯交所主板 買賣的證券為高的 ...

西安海天天綫科技股份有限公司 Xi'an Haitian Antenna Technologies Co., Ltd.* (a joint stock limited company incorporated in the People's Republic of China with limited liability) (Stock Code: 8227) 2020 FIRST QUARTERLY REPORT * for identication purposes only 西安海天天綫科技股份有限公司 Xi'an Haitian Antenna Technologies Co., Ltd.* （於中華人民共和國註冊成立之股份有限公司） （股份代號：8227） 2020 第一季度業績報告 僅供識別 香港聯合交易所有限公司（「聯交所」）GEM（「GEM 」）的特色 GEM的定位是為較其他於聯交所上市的公司帶有較高投資風險的中小型公司而設的市 場。有意投資的人士應瞭解投資於該等公司的潛在風險，並應經過審慎周詳的考慮後方 作出投資決定。 由於GEM上市公司通常為中小型公司，在GEM買賣的證券可能會承受較在聯交 ...

Xi'an Haitian Antenna Technologies Co., Ltd. 西安海天天綫科技股份有限公司 Xi'an Haitian Antenna Technologies Co., Ltd.* (formerly known as 西安海天天實業股份有限公司 (Xi'an Haitiantian Holdings Co., Ltd.*)) (a joint stock limited company incorporated in the People's Republic of China with limited liability) (Stock Code: 8227) 西安海天天綫科技股份有限公司 2019 ANNUAL REPORT * for identication purposes only 西安海天天綫科技股份有限公司 Xi'an Haitian Antenna Technologies Co., Ltd.* （前稱為西安海天天實業股份有限公司 (Xi'an Haitiantian Holdings Co., Ltd.*)） （於中華人民共和國註冊成立之股份有限公司） （股 ...

(formerly known as 西安海天天實業股份有限公司 (Xi'an Haitiantian Holdings Co., Ltd.*)) (a joint stock limited company incorporated in the People's Republic of China with limited liability) (Stock Code: 8227) THIRD QUARTERLY REPORT 2019 * for identication purposes only 西安海天天綫科技股份有限公司 Xi'an Haitian Antenna Technologies Co., Ltd.* 西安海天天綫科技股份有限公司 Xi'an Haitian Antenna Technologies Co., Ltd.* （前稱為西安海天天實業股份有限公司 (Xi'an Haitiantian Holdings Co., Ltd.*)） （於中華人民共和國註冊成立之股份有限公司） （股份代號：8227） 2019 第三季度 業績報告 * 僅供識別 香港聯合交易所有限公司（「聯交所」）G ...

Xi'an Haitiantian Holdings Co., Ltd.* 西安海天天實業股份有限公 司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：8227） 中期報告 2019 * 僅供識別 香港聯合交易所有限公司（「聯交所」）GEM（「GEM 」）的特色 GEM的定位是為較其他於聯交所上市的公司帶有較高投資風險的中小型公司而設的市 場。有意投資的人士應瞭解投資於該等公司的潛在風險，並應經過審慎周詳的考慮後方 作出投資決定。 由於GEM上市公司通常為中小型公司，在GEM買賣的證券可能會承受較在聯交所主板 買賣的證券為高的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市 場。 香港交易及結算所有限公司以及聯交所對本報告的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示概不會就因本報告全部或任何部分內容而產生或因 倚賴該等內容而引致的任何損失承擔任何責任。 本報告包括遵照GEM證券上市規則（「GEM上市規則」）的規定所提供有關西安海天天實 業股份有限公司（「本公司」）的資料。本公司各董事（「董事」）願共同及個別對本報告負 全責，並經作出一切合理查詢後確認，就彼等所深知及確 ...