Financial Performance - The company's operating revenue for the first half of 2020 was ¥15,900,745,176.26, representing a 5.28% increase compared to ¥15,103,814,109.58 in the same period last year[14]. - The net profit attributable to shareholders of the listed company reached ¥365,823,113.97, a significant increase of 488.09% from ¥62,205,466.85 in the previous year[14]. - The net cash flow from operating activities was ¥1,325,983,769.09, up 53.92% from ¥861,488,945.84 in the same period last year[14]. - The basic earnings per share for the first half of 2020 was ¥0.280, an increase of 483.33% compared to ¥0.048 in the same period last year[15]. - The weighted average return on net assets increased to 2.48%, up 2.04 percentage points from 0.44% in the previous year[15]. - The total assets at the end of the reporting period were ¥29,302,328,415.45, a slight increase of 0.09% from ¥29,274,919,328.19 at the end of the previous year[14]. - The net assets attributable to shareholders of the listed company were ¥14,906,496,760.37, reflecting a 2.25% increase from ¥14,578,610,616.01 at the end of the previous year[14]. Research and Development - The company continues to focus on R&D in display technology and smart cloud platform services to meet the growing demand for multi-scenario display solutions[17]. - The company has established a new display technology R&D platform, focusing on smart home, commercial, and AR/VR product lines[21]. - The company plans to launch the world's first self-developed screen drive chip in the second half of the year, supporting advanced algorithms and backlight technology[21]. - The company’s R&D expenses rose by 12.49% to approximately ¥734.70 million, compared to ¥653.12 million in the previous year[29]. Product Performance - The retail volume of laser TVs increased by 22.07% year-on-year, while the company's laser product sales grew by 41.85%[23]. - The retail volume of 65-inch and larger products grew by 27.14% year-on-year, while the retail volume of products below 65 inches decreased by 19.27%[21]. - The average price in the TV market decreased by 11.33% year-on-year due to intensified price competition[18]. - The company is actively developing 8K products, with the first 8K HDR dual-screen TV launched, supporting high bandwidth and transmission rates[23]. - The retail volume of 8K products is expected to grow significantly as consumer demand for ultra-high-definition content increases[23]. - The company introduced the 88-inch all-sound screen laser TV, achieving a perfect audio-visual experience[22]. Market Expansion - The company's internet TV global user base surpassed 57.48 million, a year-on-year increase of 29.7%[25]. - Daily active users in China peaked at over 24.9 million, reflecting a 38.3% year-on-year growth, with average viewing time increasing by 84 minutes to 412 minutes[25]. - The company’s online retail market share increased by 1.95 percentage points to 16.67%, while offline retail market share rose by 1.62 percentage points to 22.46%[27]. - Sales of products 75 inches and above grew by 129.62%, maintaining a market share of 24.36%[27]. - In the North American market, sales increased by 142%, with market share in the U.S. rising by 5.6 percentage points[27]. Financial Management - The company’s investment activities saw a net cash flow of approximately -¥337.18 million, a significant improvement from -¥1.48 billion in the previous year, reflecting a 77.22% reduction in outflows[29]. - The company’s financial expenses turned from a positive of ¥32 million in the previous year to a negative of approximately -¥14.11 million this year, indicating a significant change in financial management[29]. - The company reported a total profit of RMB 563,286,437.00, a decrease from RMB 130,247,965.99 in the previous year, highlighting challenges in profitability[74]. - The financial expenses showed a significant reduction, with interest expenses decreasing to RMB 19,065,767.09 from RMB 34,475,167.98, indicating better financial management[74]. Compliance and Governance - The company appointed Xinyong Zhonghe Accounting Firm for the 2020 financial report audit, with a total audit fee of RMB 1.45 million, including RMB 1.05 million for financial statement audit and RMB 0.4 million for internal control audit[47]. - The company has committed to maintaining its independence and avoiding competition with its main business following the acquisition of shares from Hisense Group[44]. - There were no significant litigation or arbitration matters during the reporting period[48]. - The company has no major related party transactions that have not been disclosed in temporary announcements[49]. - The company has no significant changes in the integrity status of its controlling shareholders or actual controllers during the reporting period[48]. Accounting Policies - The company implemented the new revenue recognition standards starting January 1, 2020, as mandated by the Ministry of Finance, impacting retained earnings and related financial statement items[60]. - The company’s financial statements comply with the requirements of the enterprise accounting standards, reflecting a true and complete picture of its financial status[98]. - The group recognizes revenue when control of goods or services is transferred to customers, with revenue measured based on the transaction price allocated to performance obligations[150]. - The company has adjusted its financial statements to reflect the new revenue and lease standards, with significant impacts on contract liabilities[159]. Assets and Liabilities - The company's total assets at the end of the current period were CNY 15,418,911,181.18, indicating a solid asset base for future growth[88]. - The total liabilities decreased to CNY 12.71 billion from CNY 13.01 billion, a reduction of approximately 2.21%[69]. - The total equity remained stable at CNY 16.58 billion, with no significant changes reported[69]. - The total accounts receivable at the end of the period amounted to ¥1,111,655,562.02, accounting for 51.29% of the total accounts receivable balance[177]. Inventory and Receivables - The inventory balance as of June 30, 2020, was CNY 3,620,213,668.33, with a provision for inventory impairment of CNY 111,300,565.87[188]. - The total amount of bad debt provision for the aging combination was ¥39,616,465.14, with a provision ratio of 5.00% for accounts receivable within one year[175]. - The total amount of other receivables at the end of the period increased to ¥88,766,393.47 from ¥61,997,621.79 at the beginning of the period[181]. Taxation - The company reported a tax rate of 15% for various subsidiaries, while other domestic subsidiaries are subject to a 25% tax rate[162]. - The company incurred a total tax expense of CNY 7,607,576.18, compared to CNY 24,853,857.51 in the previous year, indicating a decrease of about 69.49%[78].

Financial Performance - The company's operating revenue for 2019 was approximately ¥34.10 billion, a decrease of 2.91% compared to ¥35.13 billion in 2018[16]. - The net profit attributable to shareholders for 2019 was approximately ¥556.07 million, an increase of 41.71% from ¥392.40 million in 2018[16]. - The net cash flow from operating activities was approximately ¥1.78 billion, a significant recovery from a negative cash flow of ¥87.14 million in 2018[16]. - The total assets at the end of 2019 were approximately ¥29.27 billion, a slight decrease of 0.42% from ¥29.40 billion at the end of 2018[16]. - The net assets attributable to shareholders increased to approximately ¥14.58 billion, reflecting a growth of 3.46% from ¥14.09 billion in 2018[16]. - Basic earnings per share for 2019 were ¥0.425, representing a 41.67% increase from ¥0.300 in 2018[17]. - The weighted average return on net assets for 2019 was 3.87%, an increase of 1.07 percentage points compared to 2.80% in 2018[17]. - The company's overall operating performance improved, with a gross margin of 19.21%, up 3.39 percentage points year-on-year, and a net profit of 556 million yuan, an increase of 41.71%, despite a revenue decline of 2.91% to 34.105 billion yuan[28]. Cash Flow and Investments - The net cash flow from operating activities in Q1 2019 was CNY 1,433,746,837.25, but it turned negative in Q2 2019 with a cash outflow of CNY 572,257,891.41[19]. - The net cash flow from operating activities was ¥1,784,426,922.61, a decrease of ¥87,138,040.21 compared to the same period last year[43]. - The net cash flow from investing activities was -¥1,672,712,330.00, compared to -¥1,495,500,829.51 in the previous year[43]. - The net cash flow from financing activities was -¥475,543,562.54, down from ¥2,630,520,017.28 in the previous year[43]. - The company reported a total cash inflow from investment activities of CNY 18,133,171,163.28, compared to CNY 17,920,138,027.82 in 2018[146]. - The net cash flow from investment activities was CNY -1,672,712,330.00, worsening from CNY -1,495,500,829.51 in 2018[146]. Market and Product Development - The average size of televisions sold in 2019 surpassed 50 inches, reaching 50.6 inches, indicating a trend towards larger screens in consumer preferences[25]. - Laser televisions saw a retail volume increase of 105.95% year-on-year, reflecting strong consumer demand for innovative display products[25]. - The company aims to leverage AI and IoT technologies in its display products, creating new market opportunities amidst industry challenges[25]. - The company launched the industry's first 75-inch full-color laser TV, which quickly became the top-selling product within two weeks of its release, and received multiple awards for its innovation and quality[29]. - The company is expanding its smart display solutions in various sectors, including smart education and intelligent meeting solutions, enhancing its product offerings and market reach[32]. - In 2019, Hisense achieved a sales volume growth of 52.47% for TVs 65 inches and above, and 178.88% for TVs 80 inches and above, maintaining the highest market share in these segments[33]. Research and Development - Research and development expenses increased by 19.48% to approximately 1.43 billion yuan, representing 4.18% of total revenue[42]. - The company applied for a total of 607 patents during the reporting period, including 418 invention patents, demonstrating a strong commitment to technological innovation[28]. - The company plans to enhance its chip product R&D capabilities, focusing on panel control chips, image quality chips, and backlight control chips, with an emphasis on AI-based display quality processing technology[53]. - The company introduced the third-generation ultra-high-definition image processing chip, which enhances color, clarity, contrast, and smoothness, reducing reliance on imported chips[30]. Shareholder and Dividend Information - The company plans to distribute a cash dividend of ¥1.27 per 10 shares, which accounts for 30% of the net profit attributable to shareholders[5]. - The company reported a cash dividend of 1.27 RMB per 10 shares for 2019, representing 30% of the net profit attributable to shareholders[56]. - In 2019, the company distributed a total of 166,821,580.28 RMB in cash dividends, based on a net profit of 556,071,934.25 RMB[57]. Corporate Governance and Compliance - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[6]. - There are no significant risks or violations in decision-making procedures regarding external guarantees reported[6]. - The company has committed to maintaining its independence and avoiding competition with its controlling shareholder, Hisense Electronics Holdings[59]. - The company ensures that all related party transactions are conducted at fair market prices and in compliance with legal regulations[60]. - The company has not reported any major litigation or arbitration matters during the reporting period[67]. Employee and Management Information - The total number of employees in the parent company and major subsidiaries is 19,461, with 7,400 in the parent company and 12,061 in subsidiaries[115]. - The total remuneration for all directors, supervisors, and senior management was 6.4503 million yuan[112]. - The company has established a training plan focusing on professional and management skills through its internal training institution, Hisense Academy[117]. - The company has undergone changes in its board and management, with several appointments and dismissals due to work adjustments[113]. Financial Position and Assets - Total assets amounted to ¥29,274,919,328.19, a slight decrease from ¥29,399,374,261.14 in the previous year, reflecting a decrease of approximately 0.4%[136]. - The company's total equity increased to ¥16,266,748,855.74 from ¥15,357,816,525.64, reflecting an increase of approximately 5.9%[136]. - The total liabilities decreased to ¥13,008,170,472.45 from ¥14,041,557,735.50, representing a reduction of about 7.3%[136]. - The company's retained earnings rose to ¥9,301,713,863.33 from ¥8,829,163,582.58, an increase of approximately 5.3%[136]. Strategic Outlook - The company plans to continue expanding its market presence and is focusing on new product development and technological advancements[106]. - The company aims to create value for shareholders by providing high-tech products and personalized services[52]. - The company emphasizes sustainable development, integrating environmental, social, and economic benefits into its operations[87].

Financial Performance - Operating revenue for the first quarter was CNY 7,622,223,079.88, a decline of 11.26% year-on-year[4] - Net profit attributable to shareholders increased by 91.79% to CNY 26,785,773.16[4] - Basic earnings per share rose by 95.00% to CNY 0.020 per share[4] - The net profit attributable to the parent company for Q1 2020 was CNY 51,373,687.11, representing a 91.79% increase compared to CNY 26,785,773.16 in Q1 2019[10] - The company reported a net profit of ¥101,284,123.96 for Q1 2020, compared to ¥50,489,624.38 in Q1 2019, reflecting a growth of 100.00%[24] - The company reported a net profit of ¥9,353,087,550.44, slightly up from ¥9,301,713,863.33, indicating a growth of 0.55%[15] Cash Flow - Net cash flow from operating activities decreased significantly by 81.36% to CNY 1,433,746,837.25[4] - Cash flow from operating activities showed a significant decrease of 81.36%, down to CNY 267,285,876.79 from CNY 1,433,746,837.25 in the same period last year[10] - In Q1 2020, the net cash flow from operating activities was ¥267,285,876.79, a significant decrease from ¥1,433,746,837.25 in Q1 2019, reflecting a decline of approximately 81.4%[29] - Cash inflow from operating activities totaled ¥9,567,697,669.95 in Q1 2020, down from ¥10,782,542,989.93 in Q1 2019, representing a decrease of about 11.3%[28] - Cash inflow from investment activities reached ¥3,896,634,013.87 in Q1 2020, compared to ¥1,489,220,060.31 in Q1 2019, marking an increase of approximately 161.5%[29] - The net cash flow from investment activities was ¥723,389,130.56 in Q1 2020, a turnaround from a negative cash flow of ¥1,514,870,070.23 in Q1 2019[29] - Cash inflow from financing activities was ¥500,265,769.30 in Q1 2020, a decrease from ¥4,055,804,855.61 in Q1 2019, reflecting a decline of about 87.7%[29] - The net cash flow from financing activities was negative at -¥858,844,655.10 in Q1 2020, compared to a positive cash flow of ¥99,699,090.18 in Q1 2019[29] Assets and Liabilities - Total assets decreased by 4.42% to CNY 29,274,919,328.19 compared to the end of the previous year[4] - The total assets decreased to CNY 27,980,388,032.27 from CNY 29,274,919,328.19, a decline of 4.41%[14] - Total liabilities increased to CNY 23,315,639,855.25 from CNY 24,529,346,115.05, a decrease of 4.94%[14] - Total liabilities amounted to ¥11,659,606,837.28, a decrease of 10.4% from ¥13,008,170,472.45 in the previous year[15] - Total equity reached ¥16,320,781,194.99, up from ¥16,266,748,855.74, indicating a growth of 0.33%[16] - Current assets totaled ¥17,158,043,499.37, down 5.6% from ¥18,184,590,516.88 year-over-year[17] Receivables and Inventory - Accounts receivable financing decreased by 36.87% to CNY 2,639,404,065.81 due to a reduction in bank acceptance bills[9] - Other receivables increased by 45.57% to CNY 90,251,996.16, attributed to an increase in tax refunds receivable[9] - The company's accounts receivable decreased to CNY 1,977,247,009.78 from CNY 2,503,925,432.18, a reduction of 21.00%[13] - Accounts receivable decreased to ¥2,832,126,763.37 from ¥2,958,102,562.41, a decline of 4.3%[17] - Inventory rose significantly to ¥1,663,923,561.51, up from ¥1,067,813,408.86, marking a 56% increase[17] Government Support and Other Income - The company received government subsidies amounting to CNY 21,317,160.41 related to its normal business operations[6] - The revenue from other income increased by 120.13%, reaching CNY 54,127,522.29 compared to CNY 24,589,312.87 in Q1 2019[10] - Other income for Q1 2020 was ¥54,127,522.29, an increase from ¥24,589,312.87 in Q1 2019[20] Shareholder Information - The total number of shareholders at the end of the reporting period was 55,982, with the largest shareholder holding 29.996% of the shares[7] Research and Development - Research and development expenses increased to ¥375,029,064.51 in Q1 2020, up 17.09% from ¥320,303,893.13 in Q1 2019[20] Financial Adjustments - The company implemented the new revenue recognition and leasing standards starting January 1, 2020, resulting in a reclassification of prepaid and contract liabilities to contract assets and liabilities[32] - As of January 1, 2020, the company reported contract assets of ¥92,269,114.58 and contract liabilities of ¥352,473,455.50, reflecting adjustments from previous classifications[32] - The mother company's contract assets were reported at ¥46,950,578.57 and contract liabilities at ¥360,604,109.59 as of January 1, 2020, following the same reclassification[33]

Financial Performance - Operating revenue for the first quarter was CNY 7,622,223,079.88, a decline of 11.26% year-on-year[4] - Net profit attributable to shareholders increased by 91.79% to CNY 26,785,773.16[4] - Basic earnings per share rose by 95.00% to CNY 0.020 per share[4] - The net profit attributable to the parent company increased by 91.79% to CNY 51,373,687.11 compared to CNY 26,785,773.16 in the same period last year[10] - Net profit for Q1 2020 reached ¥101,284,123.96, an increase of 100.00% compared to ¥50,489,624.38 in Q1 2019[21] - The company reported a profit margin of 1.49% in Q1 2020, compared to 0.66% in Q1 2019[21] - Total comprehensive income for Q1 2020 was ¥54,032,339.23, a decrease from ¥57,295,198.62 in Q1 2019[21] - The company reported a total comprehensive loss of CNY 96,446,606.34 in Q1 2020, compared to a comprehensive income of CNY 240,753,140.97 in Q1 2019[24] Cash Flow - Net cash flow from operating activities decreased significantly by 81.36% to CNY 1,433,746,837.25[4] - The cash flow from operating activities decreased by 81.36% to CNY 267,285,876.79 from CNY 1,433,746,837.25 year-on-year[10] - The net cash flow from operating activities for Q1 2020 was CNY 267,285,876.79, significantly lower than CNY 1,433,746,837.25 in Q1 2019, indicating a decline of approximately 81.3%[26] - The company experienced a net cash outflow from financing activities of CNY 858,844,655.10 in Q1 2020, compared to a positive cash flow of CNY 99,699,090.18 in Q1 2019[26] - The ending cash and cash equivalents balance for Q1 2020 was CNY 1,930,965,108.28, down from CNY 2,170,846,725.82 in Q1 2019[26] - Cash inflow from investment activities in Q1 2020 was CNY 3,896,634,013.87, an increase from CNY 1,489,220,060.31 in Q1 2019[26] - The net cash flow from investment activities was CNY 723,389,130.56 in Q1 2020, a turnaround from a negative cash flow of CNY 1,514,870,070.23 in Q1 2019[26] Assets and Liabilities - Total assets decreased by 4.42% to CNY 29,274,919,328.19 compared to the end of the previous year[4] - The total assets decreased to CNY 27,980,388,032.27 from CNY 29,274,919,328.19, reflecting a decline in overall asset value[14] - Total liabilities amounted to ¥11,659,606,837.28, a decrease of 10.4% from ¥13,008,170,472.45 in the previous year[15] - Total equity increased to ¥16,320,781,194.99, up from ¥16,266,748,855.74, reflecting a growth of 0.33%[16] - Current assets totaled ¥17,158,043,499.37, down 5.6% from ¥18,184,590,516.88 year-over-year[17] - Total non-current liabilities decreased to ¥767,002,414.37 from ¥1,295,684,294.54, a reduction of 40.7%[15] Shareholder Information - The number of shareholders at the end of the reporting period was 55,982[7] - The largest shareholder, Qingdao Hisense Electronics Industry Holdings, held 29.996% of shares[7] Government Subsidies and Other Income - The company recognized government subsidies amounting to CNY 21,317,160.41 during the quarter[6] - The company's other income surged by 120.13% to CNY 54,127,522.29 from CNY 24,589,312.87, driven by an increase in software tax rebates[10] Inventory and Accounts Receivable - The company's inventory increased to CNY 3,609,662,965.68 from CNY 3,062,114,325.25, showing a growth in stock levels[14] - Accounts receivable financing decreased by 36.87% to CNY 2,639,404,065.81 compared to the end of the previous year[9] - Accounts receivable decreased to ¥2,832,126,763.37 from ¥2,958,102,562.41, a decline of 4.3%[17] - Inventory increased significantly to ¥1,663,923,561.51, up from ¥1,067,813,408.86, marking a growth of 56%[17] Investment Income - The company's investment income decreased by 72.47% to CNY 13,696,686.54 from CNY 49,748,577.83, reflecting a decline in equity investment returns[10] - Investment income for Q1 2020 was ¥13,696,686.54, down 72.55% from ¥49,748,577.83 in Q1 2019[20] Accounting Standards - The company implemented the new revenue recognition standard and new lease standard starting January 1, 2020, resulting in a reclassification of prepaid items and contract liabilities[28] - As of January 1, 2020, the company reported contract assets of ¥92,269,114.58 and contract liabilities of ¥352,473,455.50 due to the new accounting standards[28] - The mother company's contract assets were adjusted to ¥46,950,578.57 and contract liabilities to ¥360,604,109.59 as of January 1, 2020[29] - The adjustments were made in compliance with the revised accounting standards issued by the Ministry of Finance on July 5, 2017[29] - The company did not provide retrospective adjustments for prior comparative data under the new standards[30] Research and Development - Research and development expenses increased to ¥375,029,064.51 in Q1 2020, up 17.09% from ¥320,303,893.13 in Q1 2019[20]

Financial Performance - Net profit attributable to shareholders was CNY 264.63 million, down 21.10% year-on-year[5] - Operating income for the first nine months was CNY 23.64 billion, a decrease of 2.91% compared to the same period last year[5] - The company reported a basic earnings per share of CNY 0.202, down 21.09% from the previous year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 6.25 million, a decrease of 94.69% year-on-year[5] - The weighted average return on net assets decreased by 0.56 percentage points to 1.86%[5] - Total operating revenue for Q3 2019 was approximately ¥8.54 billion, a decrease of 17.4% compared to ¥10.34 billion in Q3 2018[22] - Total operating costs for Q3 2019 were approximately ¥8.46 billion, down 18.5% from ¥10.40 billion in Q3 2018[22] - Net profit for Q3 2019 was approximately ¥227.83 million, compared to a net loss of ¥10.41 million in Q3 2018[23] - The company reported a total profit of approximately ¥225.61 million in Q3 2019, compared to a loss of ¥7.98 million in Q3 2018[23] - The total comprehensive income for Q3 2019 was approximately ¥224.85 million, compared to a loss of ¥27.46 million in Q3 2018[24] - The company’s total profit for Q3 2019 was CNY 527,441,115.04, up from CNY 103,630,262.77 in Q3 2018, representing a growth of 408.5%[25] Cash Flow - Net cash flow from operating activities increased significantly to CNY 1.47 billion, up 272.40% year-on-year[5] - Cash flow from operating activities in the first three quarters of 2019 was CNY 1,470,928,209.01, a substantial increase from CNY 394,990,766.16 in the same period of 2018[27] - Operating cash inflow for Q3 2019 was CNY 19.22 billion, down from CNY 20.95 billion in Q3 2018, representing a decrease of approximately 8.25%[30] - Net cash flow from operating activities was CNY 1.42 billion, an increase of 40.98% compared to CNY 1.00 billion in the same period last year[30] - Cash inflow from investment activities totaled CNY 9.48 billion, slightly down from CNY 9.98 billion in Q3 2018[30] - Net cash flow from investment activities was -CNY 1.12 billion, worsening from -CNY 0.29 billion in Q3 2018[30] - Cash inflow from financing activities was CNY 2.73 billion, down from CNY 3.56 billion in Q3 2018[30] - Net cash flow from financing activities was -CNY 0.61 billion, compared to a positive CNY 0.53 billion in the same quarter last year[30] Assets and Liabilities - Total assets at the end of the reporting period were CNY 27.49 billion, a decrease of 6.48% compared to the end of the previous year[5] - Total assets decreased to ¥27,492,837,381.90 from ¥29,399,374,261.14, indicating a reduction in overall asset value[16] - Total liabilities decreased from ¥14,041,557,735.50 to ¥11,813,536,109.08, a reduction of approximately 15.9%[17] - Current assets decreased from ¥18,976,553,666.10 to ¥17,250,506,116.69, a decline of about 9.1%[20] - Total liabilities reached ¥9,065,380,878.43, with no change reported from the previous period[36] - The total equity of the company was ¥13,166,539,648.58, down by ¥173,621,923.13 compared to the last reporting period[36] Shareholder Information - The total number of shareholders at the end of the reporting period was 74,570[7] - The largest shareholder, Hisense Group Co., Ltd., held 39.53% of the shares[7] Other Financial Metrics - Non-recurring gains and losses for the first nine months amounted to CNY 109.96 million, a decrease of 35.20% when adjusted for non-recurring items[6] - Accounts receivable decreased by 30.30% to ¥5,686,822,693.29 from ¥8,159,253,646.24 due to the impact of revitalizing bill funds[11] - Prepayments increased by 58.96% to ¥118,410,077.52 from ¥74,490,449.35, attributed to subsidiary prepayments for procurement[11] - Other receivables rose by 54.74% to ¥51,732,279.18 from ¥33,430,815.48, driven by increases in tax refunds and deposits[11] - Long-term borrowings decreased by 47.19% to ¥637,850,000.00 from ¥1,207,850,000.00, reflecting repayment of long-term loans[11] - Cash and cash equivalents decreased to ¥3,750,653,797.01 from ¥4,043,118,024.18, showing a decline in liquidity[15] - The company reported a significant reduction in income tax expenses by 77.23% to ¥16,040,054.25 from ¥70,429,967.60, due to decreased profits[12] - Minority interest profit increased by 142.74% to ¥75,182,059.12 from ¥30,971,877.19, reflecting profit growth in certain subsidiaries[12]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 15,103,814,109.58, representing a year-on-year increase of 7.79% compared to CNY 14,012,258,299.14 in the same period last year[13]. - The net profit attributable to shareholders of the listed company was CNY 62,205,466.85, a decrease of 81.48% from CNY 335,838,260.78 in the previous year[13]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -86,223,008.24, compared to CNY 218,526,838.51 in the same period last year, reflecting a decline of 139.46%[13]. - The net cash flow from operating activities was CNY 861,488,945.84, down 31.95% from CNY 1,265,975,903.09 in the previous year[13]. - The total assets at the end of the reporting period were CNY 26,872,785,874.13, a decrease of 8.59% from CNY 29,399,374,261.14 at the end of the previous year[13]. - The basic earnings per share for the first half of 2019 was CNY 0.048, down 81.32% from CNY 0.257 in the same period last year[13]. - The diluted earnings per share also stood at CNY 0.048, reflecting the same percentage decrease of 81.32% compared to CNY 0.257 last year[13]. - The weighted average return on net assets was 0.44%, a decrease of 1.97 percentage points from 2.41% in the previous year[13]. Revenue and Sales - The company's revenue for the first half of 2019 reached 15.03 billion yuan, an increase of 7.79% year-on-year, with an overall gross margin improvement of 0.87 percentage points[19]. - The domestic TV retail volume decreased by 4.3% year-on-year to 21.943 million units, while retail sales dropped by 13.1% to 64.65 billion yuan[19]. - Laser TV sales increased by 104% year-on-year, with a market share of 48.8% in the 80-inch and above segment[22]. - The average price of TVs decreased by 9.3% year-on-year to 2,946 yuan[19]. - The sales revenue in the North American market grew by 34.26%, with the U.S. market experiencing a significant increase of 65.08%[28]. Research and Development - The company launched the third-generation ultra-high-definition picture processing chip, which has been applied in over 80% of its high-end ultra-high-definition TVs[23]. - The company's R&D expenses increased by 47.83% to ¥653,120,121.30, up from ¥441,805,114.42 in the previous year, reflecting a commitment to innovation[29]. - The company holds 789 patents related to laser TV technology, including 106 overseas patents[21]. Market and User Growth - The number of global internet TV users surpassed 44.33 million, a year-on-year increase of 26.3%[26]. - Daily active users in the domestic market exceeded 16 million, with a year-on-year growth of 23.1%[26]. - The education segment reached 18 million users, with over 300,000 hours of professional courses available[27]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 80,692[44]. - The largest shareholder, Hisense Group Co., Ltd., held 517,193,231 shares, representing 39.53% of the total shares[45]. - The second-largest shareholder, Qingdao Hisense Electronics Industry Holdings, held 65,436,431 shares, accounting for 5.00%[45]. - The top ten shareholders collectively held a significant portion of the company's shares, with the top three alone holding over 47%[45]. Financial Management - The financial expenses decreased by 34.77% to ¥32,003,912.83, compared to ¥49,066,320.33 in the previous year, indicating improved financial management[29]. - The net cash flow from financing activities showed a significant decline of 126.58%, resulting in a net outflow of ¥441,244,034.96 compared to a net inflow of ¥1,660,272,270.46 in the previous year[29]. - The company did not propose any profit distribution plan or capital reserve transfer to share capital during the reporting period[3]. Asset Management - Total current assets decreased to ¥22,432,136,084.13 from ¥24,944,816,274.05, a decline of approximately 10.06%[50]. - Cash and cash equivalents dropped to ¥2,913,684,814.00 from ¥4,043,118,024.18, representing a decrease of about 28.00%[50]. - Total liabilities decreased to ¥11,453,874,692.95 from ¥14,041,557,735.50, a decline of about 18.52%[52]. - Total equity increased to ¥15,418,911,181.18 from ¥15,357,816,525.64, reflecting a growth of approximately 0.40%[52]. Compliance and Governance - The company did not distribute profits or increase capital reserves during the reporting period, with no dividends or stock bonuses issued[37]. - There were no significant lawsuits or arbitration matters during the reporting period[37]. - The company has not made any changes to its accounting policies or estimates during the reporting period[43]. Inventory and Receivables - The inventory at the end of the period amounts to 3,954,539,500.40 RMB, compared to 3,579,259,760.68 RMB at the beginning, indicating an increase of about 10.45%[188]. - The total accounts receivable at the end of the period amounted to 2,507,914,353.54 RMB, with a bad debt provision of 72,859,808.44 RMB[169]. - The company reported a bad debt provision recovery of 43,328,877.46 RMB during the period, reducing the total bad debt provision from 94,340,076.22 RMB to 72,859,808.44 RMB[172]. Taxation and Incentives - The company has a corporate income tax rate of 15% for several subsidiaries, while one subsidiary benefits from a reduced rate of 12.5%[157]. - The company has implemented a VAT refund policy for software products, allowing for a refund of VAT exceeding 3%[158]. - The company’s subsidiaries benefit from various tax incentives, including reduced corporate income tax rates due to high-tech enterprise status[158].