Financial Performance - The company's operating revenue for 2020 was approximately ¥39.31 billion, an increase of 15.28% compared to ¥34.10 billion in 2019[13]. - The net profit attributable to shareholders of the listed company reached approximately ¥1.20 billion, representing a significant increase of 114.98% from ¥556.07 million in the previous year[13]. - The basic earnings per share for 2020 was ¥0.914, up 115.06% from ¥0.425 in 2019[14]. - The weighted average return on net assets increased to 7.92%, up by 4.05 percentage points from 3.87% in 2019[14]. - The company reported a significant increase in paid users in the education sector, with a growth rate of 335% year-on-year[25]. - The total operating revenue for 2020 reached ¥39,314,718,113.16, an increase from ¥34,104,738,789.95 in 2019, representing a growth of approximately 15.5%[126]. - The total profit for 2020 was approximately ¥1.64 billion, compared to ¥763.47 million in 2019, marking a significant increase of 115%[127]. - The company reported a comprehensive income total of approximately ¥1.48 billion for 2020, compared to ¥808.27 million in 2019, showing a growth of 83%[127]. Cash Flow and Financial Position - The net cash flow from operating activities was approximately ¥124.23 million, a decrease of 93.04% compared to ¥1.78 billion in 2019[13]. - The company's cash flow from financing activities showed a significant outflow of ¥1.75 billion, an increase of 268.96% compared to the previous year[34]. - The total cash and cash equivalents at the end of 2020 were CNY 1,086,552,738.81, down from CNY 1,791,982,236.59 at the end of 2019[134]. - The company reported a total sales revenue of CNY 38,159,209,454.20 for the year, compared to CNY 37,189,022,620.36 in the previous year, indicating a growth of approximately 2.6%[132]. - The net cash flow from investment activities improved to CNY 888,582,113.55 in 2020, recovering from a negative cash flow of CNY 1,672,712,330.00 in 2019[133]. Assets and Liabilities - The total assets at the end of 2020 amounted to approximately ¥31.46 billion, reflecting a growth of 7.45% from ¥29.27 billion at the end of 2019[13]. - Total liabilities reached ¥13,981,589,372.70 in 2020, compared to ¥13,008,170,472.45 in 2019, marking a growth of approximately 7.47%[122]. - Accounts receivable surged to ¥4,761,366,618.03 in 2020, compared to ¥2,958,102,562.41 in 2019, showing an increase of approximately 60.93%[123]. - Inventory levels increased significantly to ¥1,822,874,224.00 in 2020 from ¥1,067,813,408.86 in 2019, representing a growth of about 70.73%[123]. - The company's total liabilities increased to ¥8,804,347,939.65 in 2020 from ¥7,937,313,836.14 in 2019, representing a rise of about 10.9%[125]. Research and Development - Research and development expenses rose by 22.02% to ¥1.74 billion, representing 4.43% of total operating revenue[33]. - The company successfully developed key technologies for 4K monitors and launched several new products, breaking the market dominance of Japanese and Korean brands[24]. - The company aims to accelerate the research of Micro-LED and Mini-LED core components, with Micro-LED products expected to launch in 2021[45]. Market Performance - The company maintained a 19.0% market share in China's retail television market, an increase of 1.07 percentage points year-on-year[23]. - The overseas market experienced a 31% growth, with the U.S. market growing by 64% and Canada by 59%[23]. - The laser television segment achieved a 22.13% year-on-year growth, with the company holding a 32.74% market share in the 80+ inch segment[23]. Corporate Governance and Management - The company has a diverse board with members holding positions in various other organizations, enhancing its governance structure[97]. - The management team includes experienced professionals from various sectors, contributing to strategic decision-making[96]. - The company emphasizes the importance of corporate governance and accountability through its independent directors[97]. Shareholder Information - The largest shareholder, Hisense Group Holdings Co., Ltd., holds 392,505,971 shares, representing 29.99% of the total shares[82]. - The report indicates that there are no restrictions on the shares held by the top ten unrestricted shareholders[83]. - Hisense Group Holdings Co., Ltd. is involved in various businesses, including home appliance R&D, manufacturing, and sales, as well as real estate and investment activities[84]. Financial Management and Investments - The company has entrusted a total of ¥1,787,200,000 in financial management, with an outstanding balance of ¥722,650,950[61]. - The company plans to continue its financial management strategy in the future[62]. - The company recognizes investment income from the disposal of long-term equity investments, with the difference between the book value and actual proceeds recorded in the current period[181]. Compliance and Audit - The audit report confirms that the financial statements fairly reflect the company's financial position as of December 31, 2020[110]. - The company has established internal controls to ensure compliance with corporate governance standards[103]. - The management is tasked with evaluating the company's ability to continue as a going concern, disclosing relevant matters as necessary[117].

Financial Performance - Operating revenue for the period reached approximately ¥10.38 billion, representing a year-on-year increase of 53.43%[4] - Net profit attributable to shareholders was approximately ¥202.86 million, a significant increase of 294.87% compared to the same period last year[4] - Basic earnings per share were ¥0.155, an increase of 297.44% compared to ¥0.039 in the same period last year[4] - The net profit after deducting non-recurring gains and losses was approximately ¥122.11 million, a year-on-year increase of 2,034.01%[4] - The company's net profit attributable to shareholders of the parent company surged by 295% to ¥202,861,101.33 from ¥51,373,687.11 in the same period last year[9] - The net profit for Q1 2021 reached ¥294,141,537.21, compared to ¥101,284,123.96 in Q1 2020, representing a 190.5% increase[21] - The total comprehensive income for Q1 2021 was ¥293,803,358.27, significantly higher than ¥54,032,339.23 in Q1 2020[20] Cash Flow - The net cash flow from operating activities was approximately -¥1.35 billion, compared to ¥267.29 million in the same period last year, indicating a substantial decline[4] - The company's cash flow from operating activities showed a net outflow of ¥1,346,265,169.75, a significant decline from a net inflow of ¥267,285,876.79 in Q1 2020[9] - The cash inflow from operating activities for Q1 2021 was CNY 10,230,065,737.68, an increase of 6.9% compared to CNY 9,567,697,669.95 in Q1 2020[23] - The net cash flow from operating activities was negative at CNY -1,346,265,169.75, compared to a positive CNY 267,285,876.79 in the same period last year[23] - The cash outflow for purchasing goods and services was CNY 9,574,127,765.03, an increase from CNY 7,274,377,501.71 in the same quarter last year[23] - The cash inflow from financing activities was CNY 2,082,268,681.97, significantly higher than CNY 500,265,769.30 in Q1 2020[24] - The net cash flow from financing activities was negative at CNY -52,825,860.36, an improvement from CNY -858,844,655.10 in the previous year[24] Assets and Liabilities - Total assets at the end of the reporting period were approximately ¥31.26 billion, a decrease of 0.64% compared to the end of the previous year[4] - The total assets as of March 31, 2021, amounted to ¥31,255,915,298.63, down from ¥31,456,348,309.87 at the end of 2020[13] - The company's total liabilities decreased to ¥13,733,715,332.71 from ¥13,981,589,372.70 at the end of 2020[13] - Total liabilities increased to ¥8,910,077,053.82 from ¥8,804,347,939.65, representing a rise of 1.2%[16] - The company's equity increased to ¥14,558,034,435.16 from ¥14,483,386,827.47, showing a growth of 0.5%[17] Shareholder Information - The number of shareholders at the end of the reporting period was 64,654[6] - The top shareholder, Hisense Group Holdings Co., Ltd., held 392,505,971 shares, accounting for 29.99% of the total shares[8] Expenses - The company's selling expenses increased by 59% to ¥840,902,577.16, driven by scale growth and increased brand investment[9] - Research and development expenses in Q1 2021 amounted to ¥428,308,319.04, compared to ¥375,029,064.51 in Q1 2020, indicating a 14.2% increase[18] - Research and development expenses increased to ¥264,896,229.60 in Q1 2021, up from ¥218,443,340.67 in Q1 2020, reflecting a 21.3% rise[21] - Financial expenses rose to ¥20,922,423.67, compared to a negative financial expense of -¥15,873,411.37 in Q1 2020, primarily due to exchange rate fluctuations[9] Inventory and Accounts Receivable - The company's inventory increased to ¥5,699,910,804.87, up from ¥4,546,910,100.29, indicating a strategic reserve of raw materials[12] - The company's accounts receivable rose to ¥5,216,482,003.17 from ¥4,761,366,618.03, an increase of 9.5%[15] Government Subsidies - The company received government subsidies amounting to approximately ¥20.67 million during the reporting period[5] Other Financial Metrics - The weighted average return on net assets increased to 1.29%, up 269.77 percentage points from 0.35% in the previous year[4] - The gross profit margin improved to 6.1% in Q1 2021 from 2.9% in Q1 2020[21] - The investment income increased by 123% to ¥30,479,543.68 from ¥13,696,686.54 year-on-year[9] - The investment income from joint ventures and associates was ¥4,699,141.35 in Q1 2021, up from ¥370,803.04 in Q1 2020, reflecting a substantial increase[21] Changes in Accounting Standards - The company implemented new leasing standards starting January 1, 2021, affecting the reporting of fixed assets and lease liabilities[27]

Financial Performance - Net profit attributable to shareholders rose by 117.42% year-on-year to CNY 575.36 million[5] - Basic earnings per share increased by 117.82% to CNY 0.440[7] - The weighted average return on net assets increased by 2.02 percentage points to 3.88%[7] - Total operating revenue for Q3 2020 reached ¥11,579,407,352.20, a 35.7% increase from ¥8,539,903,900.30 in Q3 2019[27] - Total operating revenue for the first three quarters of 2020 was ¥27,480,152,528.46, a 16.0% increase from ¥23,643,718,009.88 in the same period of 2019[27] - The company’s total profit for the first three quarters of 2020 reached ¥906,084,421.44, compared to ¥355,855,963.54 in the same period of 2019, indicating a significant growth[30] - Net profit for Q3 2020 was ¥311,446,388.16, compared to ¥227,828,056.23 in Q3 2019, reflecting a 36.7% increase[30] - The total profit for Q3 2020 was ¥342,797,984.44, compared to ¥225,607,997.55 in Q3 2019, marking a 52% increase[30] Asset and Liability Management - Total assets increased by 4.43% year-on-year to CNY 30.57 billion[5] - The company’s asset-liability ratio stands at 45.22%, indicating a healthy financial condition[15] - Current liabilities rose to ¥13,086,426,937.21, up from ¥11,712,486,177.91, indicating an increase of about 11.7%[21] - Non-current liabilities decreased to ¥736,223,262.12 from ¥1,295,684,294.54, a decline of approximately 43.2%[21] - Total liabilities amounted to ¥13,822,650,199.33, compared to ¥13,008,170,472.45, reflecting an increase of around 6.3%[21] - The company's equity attributable to shareholders increased to ¥14,958,138,553.79 from ¥14,578,610,616.01, showing a growth of about 2.6%[22] - The total equity increased to ¥16,747,860,192.98 from ¥16,266,748,855.74, reflecting a growth of approximately 2.9%[22] Cash Flow Analysis - Cash flow from operating activities decreased by 86.04% year-on-year to CNY 205.33 million[5] - Operating cash flow decreased by 86.04% to ¥205,326,582.75 due to increased procurement payments and sales collection cycles[14] - The cash flow from operating activities for the first three quarters of 2020 was approximately ¥26.45 billion, a decrease from ¥27.13 billion in the same period of 2019[35] - The net cash flow from operating activities for the first three quarters of 2020 was -327,453,412.30 RMB, compared to 1,415,461,687.00 RMB in the previous year[38] - The company reported a decrease in sales costs to approximately ¥7.51 billion in Q3 2020 from ¥5.27 billion in Q3 2019, reflecting a 42.4% increase[32] Investment and Growth - Investment properties rose by 198.16% to ¥772,084,608.80 as a result of increased ownership of real estate[13] - Other non-current assets increased by 270.23% to ¥37,578,863.85 due to new investments in information technology projects[13] - The fair value change income increased by 284.04% to ¥29,455,381.95, attributed to the appreciation of financial products[14] - The company plans to introduce strategic investors through a public offering of 41.5 million shares to enhance its capital structure[17] - The company has initiated a mixed-ownership reform to diversify its equity structure and improve governance[16] Shareholder Information - The total number of shareholders at the end of the reporting period was 47,884[9] - The largest shareholder, Qingdao Hisense Electronics Industry Holdings Co., Ltd., holds 29.99% of shares[9]

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]