Financial Performance - The company's operating revenue for 2020 was RMB 3,826,689,283.64, a decrease of 12.12% compared to RMB 4,354,617,984.69 in 2019[28]. - The net profit attributable to shareholders of the listed company was RMB 270,128,449.47, an increase of 38.58% from RMB 194,922,442.50 in 2019[28]. - The net profit after deducting non-recurring gains and losses was RMB 213,507,706.45, up 32.43% from RMB 161,226,367.15 in 2019[31]. - The net cash flow from operating activities reached RMB 498,430,843.75, a significant increase of 1,810.15% compared to RMB 26,093,789.63 in 2019[31]. - The total assets at the end of 2020 were RMB 6,292,313,793.93, reflecting a 9.40% increase from RMB 5,751,716,015.32 at the end of 2019[31]. - The net assets attributable to shareholders of the listed company were RMB 2,886,137,987.68, which is a 10.26% increase from RMB 2,617,552,422.31 at the end of 2019[31]. - Basic earnings per share for 2020 increased to CNY 0.61, a 38.64% increase compared to CNY 0.44 in 2019[32]. - The weighted average return on equity rose to 9.84%, an increase of 2.14 percentage points from 7.70% in 2019[32]. Revenue Breakdown - Total revenue for Q2 2020 was CNY 1,102,355,662.05, while Q3 revenue was CNY 1,070,380,309.03, showing a slight decrease[33]. - Net profit attributable to shareholders for Q2 2020 was CNY 105,013,840.00, while Q3 net profit was CNY 88,129,368.28[33]. - The smart control product segment generated revenue of 1.542 billion yuan, an increase of 3.32% year-on-year, with a stable market share[62]. - The backlight source and application products segment saw revenue decline to 1.312 billion yuan, a decrease of 29.8% due to COVID-19 impacts[62]. - The optical communication and intelligent equipment cable segment reported revenue of CNY 639.10 million, representing a year-on-year increase of 6.91%[72]. - The semiconductor laser series and aerospace microelectronic components segment saw revenue decline to CNY 184.10 million, down 21.03% year-on-year, but improved gross margin to 26.76%, an increase of 14.69 percentage points[76]. Cash Flow and Dividends - The company plans to distribute a cash dividend of RMB 0.58 per 10 shares, totaling RMB 26,417,651.50, which represents 9.78% of the net profit attributable to shareholders for 2020[8]. - The company distributed cash dividends totaling ¥26,417,651.50, which accounted for 9.78% of the net profit attributable to ordinary shareholders[145]. - The cash dividend per 10 shares in 2020 was ¥0.58, compared to ¥0.45 in 2019 and ¥0.52 in 2018[145]. - The company has committed to distributing no less than 30% of the average annual distributable profit over the last three years as cash dividends from 2018 to 2020[149]. Research and Development - Total R&D expenditure was CNY 146,986,450.45, accounting for 3.84% of total revenue[93]. - The company has made significant progress in technology research and development, achieving key technology breakthroughs in high-power laser pump sources and superconducting technology[66]. - The company holds 392 valid patents, including 34 invention patents and 244 utility model patents[59]. - The company received 95 patent authorizations during the reporting period, including 5 invention patents and 70 utility model patents[69]. Market and Industry Trends - The smart controller market in China is projected to exceed CNY 1.3 trillion, driven by diverse applications and favorable government policies[47]. - The demand for smart home appliances is increasing, providing a favorable environment for the growth of the smart controller industry[118]. - The automotive electronics sector is expected to expand significantly due to the rise of electric vehicles and smart driving technologies, with a low current penetration rate in China compared to advanced countries[119]. - The backlight source industry is experiencing strong demand growth due to the increasing penetration of LCD display modules and the trends of 5G and IoT[120]. Corporate Governance and Compliance - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[10]. - There are no violations of decision-making procedures regarding external guarantees[10]. - The company has maintained a good integrity status, with no overdue debts or unfulfilled commitments reported[161]. - The company emphasizes strict compliance with laws and regulations to protect the rights of shareholders and creditors, ensuring timely and accurate information disclosure[176]. Strategic Initiatives - The company is actively pursuing overseas market expansion through contracts with Japan's KALTECH[59]. - The company plans to enhance its strategic focus on high-end equipment and independent intellectual property, aiming for high-quality development through technological innovation[137]. - In 2021, the company will implement measures to strengthen internal controls, reduce costs, and promote structural adjustments to drive development amid intensified industry competition[138]. Employee and Social Responsibility - The company actively engages in social responsibility initiatives, including employee welfare programs and community support during the pandemic[182]. - The company has established a harmonious labor relationship by providing annual health checks and holiday benefits to employees[177]. - The company maintains a focus on talent development and employee training to enhance workforce capabilities[177].

Financial Performance - Net profit attributable to shareholders was ¥213,744,316.78, representing a 38.14% increase year-on-year[17]. - Operating income for the first nine months was ¥2,960,544,377.79, a decrease of 10.47% compared to the same period last year[17]. - Basic earnings per share increased by 37.14% to ¥0.48 from ¥0.35 in the same period last year[17]. - The company reported a net profit of ¥190,133,184.54 after deducting non-recurring gains and losses, which is a 35.09% increase year-on-year[17]. - Net profit for Q3 2020 reached ¥101.44 million, up 46.9% from ¥68.98 million in Q3 2019[65]. - The company reported investment income of approximately ¥71.32 million in Q3 2020, compared to ¥57.68 million in Q3 2019, marking a growth of 23.6%[62]. - Operating profit for Q3 2020 was approximately ¥103.04 million, an increase of 40.7% from ¥73.22 million in Q3 2019[65]. - Total comprehensive income attributable to the parent company for the first three quarters of 2020 was CNY 210,928,950.28, compared to CNY 155,828,798.77 in the same period of 2019, an increase of approximately 35.4%[68]. - Basic and diluted earnings per share for the first three quarters of 2020 were both CNY 0.40, up from CNY 0.32 in the same period of 2019, reflecting a growth of 25%[76]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥6,169,099,209.43, an increase of 7.26% compared to the end of the previous year[17]. - Non-current assets totaled ¥2,619,319,075.02, compared to ¥2,341,930,464.21, reflecting an increase of about 11.9%[49]. - Total liabilities increased to ¥2,967,716,555.52 from ¥2,810,043,372.15, representing an increase of about 5.6%[49]. - The total equity attributable to shareholders increased to ¥2,808,080,167.54 from ¥2,617,552,422.31, reflecting a growth of approximately 7.3%[49]. - The total current assets amounted to CNY 3,409,785,551.11, remaining unchanged from the previous period[88]. - The total liabilities reached CNY 2,810,043,372.15, with current liabilities totaling CNY 2,752,536,355.78[90]. - The total assets were reported at CNY 5,751,716,015.32, consistent with the previous reporting period[90]. Cash Flow - Net cash flow from operating activities was ¥17,063,210.07, a significant improvement of 117.89% compared to a net outflow of ¥95,394,042.30 in the previous year[17]. - Net cash flow from investing activities improved by 38.79% to -¥65,135,306.15 from -¥106,404,751.98, primarily due to a reduction in cash paid for investments[34]. - Net cash flow from financing activities decreased by 61.08% to ¥60,572,857.33 from ¥155,627,427.33, mainly due to increased cash payments for debt repayment[34]. - Cash inflow from operating activities totaled CNY 2,706,996,664.27, while cash outflow was CNY 2,689,933,454.20, resulting in a net cash flow of CNY 17,063,210.07[79]. - The company reported a significant increase in cash received from operating activities, totaling CNY 315,405,094.62 in the third quarter of 2020, compared to CNY 58,723,417.93 in the same quarter of 2019[83]. - Cash outflow for purchasing goods and services in the third quarter of 2020 was CNY 10,219,820.31, down from CNY 24,006,217.13 in the same quarter of 2019, indicating improved cost management[83]. Shareholder Information - The total number of shareholders at the end of the reporting period was 42,255[23]. - The largest shareholder, Jiangxi Electronic Group Co., Ltd., held 21.14% of the shares, amounting to 93,762,092 shares[23]. Other Financial Metrics - The weighted average return on equity rose to 7.88%, an increase of 1.73 percentage points year-on-year[17]. - Financial expenses increased by 38.14% to ¥58,376,019.93 from ¥42,259,969.98, mainly due to the impact of RMB appreciation and exchange gains[30]. - Other income grew by 89.52% to ¥31,665,551.81 from ¥16,708,302.24, primarily due to an increase in government subsidies[31]. - Research and development expenses for Q3 2020 were ¥35.72 million, a decrease of 11.7% from ¥40.40 million in Q3 2019[58]. - The company experienced a credit impairment loss of CNY 1,143,782.73 in Q3 2020, compared to no losses in Q3 2019[74].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥1,890,164,068.76, a decrease of 8.83% compared to ¥2,073,208,293.68 in the same period last year [19] - Net profit attributable to shareholders of the listed company reached ¥125,614,948.50, an increase of 30.28% from ¥96,422,702.77 in the previous year [19] - The net cash flow from operating activities was ¥92,056,573.30, a significant improvement of 173.77% compared to a negative cash flow of ¥124,781,583.49 in the same period last year [19] - The company reported a net profit excluding non-recurring gains and losses of ¥102,904,843.73, which is a 14.17% increase from ¥90,131,872.60 in the same period last year [19] - The company achieved a total revenue of CNY 1.89 billion, a decrease of 8.83% compared to the same period last year [43] - Net profit reached CNY 126 million, an increase of 30.28% year-on-year, attributed to transformation and efficiency improvement measures [43] - The total comprehensive income for the period reached CNY 143,409,488.19, compared to CNY 110,088,675.60 in the previous period, reflecting a growth of approximately 30.2% [115] Assets and Liabilities - The total assets at the end of the reporting period were ¥5,924,726,565.58, reflecting a 3.01% increase from ¥5,751,716,015.32 at the end of the previous year [19] - The total liabilities decreased to CNY 2,801,209,985.52 from CNY 2,810,043,372.15 [101] - The company's total assets included restricted cash of CNY 195 million and accounts receivable of CNY 46 million due to bank pledges [49][52] - The company's total liabilities increased, with borrowings received amounting to 1,060,000,000.00 RMB, up from 600,000,000.00 RMB in the previous period [130] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 33,854 [85] - The largest shareholder, Jiangxi Electronic Group, held 21.14% of the shares [85] - The second largest shareholder, Jiangxi Wire and Cable Factory, held 3.01% of the shares [85] - The company has committed to distributing cash dividends of no less than 30% of the average distributable profit over the last three years from 2018 to 2020 [68] Research and Development - The company increased R&D expenses by 1.23% to CNY 70 million, focusing on new technologies such as high-temperature superconducting heating and semiconductor laser technology [43] - The company holds 328 valid patents, including 35 invention patents, indicating a strong focus on innovation and technology development [34] - The company received 51 new patent authorizations in the first half of 2020, including 3 invention patents [38] Market and Industry Insights - The LED industry in China is projected to reach a market value of RMB 1 trillion by 2020, with increasing market concentration and opportunities for leading companies [28] - The semiconductor laser market is experiencing rapid growth, with a reported revenue of RMB 60.5 billion in 2018, reflecting a year-on-year increase of 22.2% [31] - The wire and cable market is facing a supply-demand imbalance, with an oversupply of ordinary cables and a shortage of high-end products [32] Risk Factors - The company faces macroeconomic risks due to uncertainties in international economic trends and the ongoing impact of the COVID-19 pandemic [60] - The company is exposed to foreign exchange risks due to its export business, which may affect current profits [60] - The company anticipates fluctuations in raw material prices and will implement appropriate pricing and procurement strategies to mitigate risks [60] Corporate Governance - The company has not disclosed any plans for profit distribution or capital reserve transfer to increase share capital during the reporting period [7] - The actual controller, Wu Rui, has made commitments to avoid competition with the listed company and to minimize related party transactions, both effective indefinitely [66] - There were no significant lawsuits or arbitration matters during the reporting period [69] - The company has not engaged in any major related party transactions during the reporting period [75] Compliance and Regulations - The financial statements were approved by the board of directors on August 25, 2020, ensuring compliance with regulatory standards [158] - The company strictly adheres to environmental protection laws and has not faced any penalties during the reporting period [82] - The company conducts annual sampling and testing of pollution emissions through qualified third-party institutions [81] Financial Management - The company has not proposed any profit distribution or capital reserve transfer for the current period [64] - The company reported a profit distribution of CNY -23,060,791, indicating a loss in profit allocation to shareholders [142] - The capital reserve decreased by CNY 1,009,122.46 during the reporting period [140]

Financial Performance - The company's operating revenue for 2019 was approximately ¥4.35 billion, representing a year-over-year increase of 26.38% compared to ¥3.45 billion in 2018[22]. - Net profit attributable to shareholders of the listed company decreased by 14.19% to approximately ¥194.92 million in 2019 from ¥227.16 million in 2018[22]. - The net profit after deducting non-recurring gains and losses was approximately ¥161.23 million, down 24.37% from ¥213.18 million in 2018[22]. - The company's total assets increased by 12.04% to approximately ¥5.75 billion at the end of 2019, compared to ¥5.13 billion at the end of 2018[22]. - The basic earnings per share for 2019 was ¥0.44, a decrease of 13.73% from ¥0.51 in 2018[22]. - The company reported a net cash flow from operating activities of approximately ¥26.09 million, down 30.20% from ¥37.38 million in 2018[22]. - The gross profit margin for the main business decreased from 12.41% to 12.01%, indicating a decline of 0.4 percentage points[60]. - The weighted average return on equity decreased to 7.70% in 2019 from 9.68% in 2018, a decline of 1.98 percentage points[22]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.45 per 10 shares, totaling RMB 19,956,453.75, which represents 10.24% of the net profit attributable to shareholders for 2019[6]. - The company has distributed a total of approximately 62.53 million RMB in cash dividends over the past three years, which accounts for 30.19% of the average net profit attributable to the parent company during the same period[120]. - In 2019, the cash dividend per 10 shares was 0.44 RMB, with a total cash dividend amounting to 19.96 million RMB, representing 10.24% of the net profit attributable to shareholders[121]. - The company plans to maintain a cash dividend distribution of no less than 30% of the average distributable profit over the last three years for the years 2018-2020[125]. Research and Development - The company holds 227 valid patents, including 32 invention patents and 229 utility model patents[43]. - The company has focused on R&D in areas such as low thermal resistance LED packaging and semiconductor laser technology, achieving international leading levels in certain technologies[48]. - In 2019, the company was awarded 40 patents, including 6 invention patents and 20 utility model patents[49]. - R&D expenses increased by over 20% compared to the previous year, reflecting the company's commitment to innovation[53]. - Research and development investment totaled 152,651,003.71 CNY, accounting for 3.51% of total revenue, with 557 R&D personnel, making up 9.48% of total staff[78]. Market and Industry Outlook - The LED industry in China is projected to exceed 1 trillion CNY in total output value by 2020, with a significant shift in production capacity towards mainland China[96]. - The global LED chip market is expected to shrink by over 15% in 2019, with domestic manufacturers' revenue estimated to decline by 18%[98]. - The Chinese LED packaging market is projected to reach 115 billion CNY in 2020, driven by demand in automotive, high-end commercial lighting, and backlighting[98]. - The semiconductor lighting application segment generated approximately 638.8 billion CNY in 2019, with a year-on-year growth of 5.1%[98]. - The global smart controller market is projected to reach 1.5 trillion USD in 2020, with China's market expected to reach 1.55 trillion yuan[102]. Operational Challenges and Strategies - The company is focusing on transforming traditional industries like LED and cables while actively developing emerging sectors such as lasers and superconductors[53]. - The operating cash flow net amount decreased by 30.20% compared to the previous year, indicating potential liquidity challenges[58]. - The company is implementing a strategy to optimize its asset quality and enhance operational efficiency despite facing short-term pressures[56]. - The company aims to enhance its core competitiveness through technology innovation and strategic transformation[42]. - The company is enhancing its management capabilities to address the complexities arising from business diversification and to mitigate transformation and management risks[116]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from Da Hua Certified Public Accountants[5]. - There are no non-operating fund occupations by controlling shareholders or related parties[8]. - The company has not faced any risks of suspension or termination of its listing[140]. - The company has maintained a good credit status without any overdue debts or regulatory penalties[140]. - The company has made commitments to avoid competition and related transactions with its actual controller and major shareholders to ensure operational independence[125]. Social Responsibility and Environmental Compliance - The company has implemented a quality management system certified by ISO9001:2015 and an environmental management system certified by ISO14001:2015[157]. - The company actively engages in social responsibility, focusing on environmental protection and community support initiatives[157]. - The company has organized blood donation activities for 13 consecutive years, with a total donation of 13,300 milliliters in 2019[157]. - The company emphasizes the importance of maintaining a harmonious labor relationship and protecting employee rights[156]. - The company strictly adheres to environmental protection laws and has not faced any penalties for violations during the reporting period[161].

2020 年第一季度报告 公司代码：600363 公司简称：联创光电 江西联创光电科技股份有限公司 2020 年第一季度报告 1 / 18 2020 年第一季度报告 重要提示 一、 二、 公司基本情况. 三、 重要事项. 附录 四、 目录 2 / 18 2020 年第一季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人曾智斌、主管会计工作负责人高璐璐及会计机构负责人（会计主管人员）万云涛 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |-----------------------------------------------|------------------|--------------------------------------|--------------------- ...

Financial Performance - Operating revenue for the first nine months was ¥3,306,873,301.03, representing a year-on-year growth of 32.46%[17] - Net profit attributable to shareholders was ¥154,727,536.66, a decrease of 11.69% compared to the same period last year[17] - Basic and diluted earnings per share were both ¥0.3489, down 11.69% from the previous year[17] - The company reported a net profit after deducting non-recurring gains and losses of ¥140,745,771.68, a decrease of 15.04% year-on-year[17] - Total operating revenue for Q3 2019 reached ¥1,233,665,007.35, a 51.0% increase from ¥816,611,398.43 in Q3 2018[57] - Net profit for Q3 2019 was ¥68,981,959.89, compared to ¥71,360,411.51 in Q3 2018, reflecting a decrease of 3.9%[61] - Total revenue for Q3 2019 was CNY 11,798,145.31, a decrease from CNY 21,368,009.11 in Q3 2018, representing a decline of approximately 44.5%[66] - Net profit for Q3 2019 was CNY 44,010,002.94, compared to CNY 45,399,341.38 in Q3 2018, reflecting a decrease of about 3.1%[69] Cash Flow - Net cash flow from operating activities was -¥95,394,042.30, a decline of 187.58% year-on-year[17] - Operating cash inflow for the first three quarters of 2019 was CNY 2,819,017,635.26, an increase from CNY 2,325,601,652.10 in the same period of 2018, representing a growth of approximately 21.2%[71] - Net cash flow from operating activities for the first three quarters of 2019 was CNY -95,394,042.30, compared to CNY 108,918,993.01 in the same period of 2018, indicating a decline[71] - Net cash flow from financing activities for the first three quarters of 2019 was CNY 155,627,427.33, a significant improvement from CNY -126,940,010.17 in the same period of 2018[74] Assets and Liabilities - Total assets at the end of the reporting period reached ¥5,770,801,504.16, an increase of 12.41% compared to the end of the previous year[17] - Current liabilities rose to ¥2,822,449,954.46, compared to ¥2,341,744,262.53, reflecting an increase of about 20.5%[46] - Total liabilities increased to ¥2,872,062,376.45 from ¥2,380,665,925.31, reflecting an increase of about 20.6%[48] - Non-current assets totaled ¥2,624,319,956.76, up from ¥2,263,596,748.44, indicating a growth of approximately 16%[52] - The company's cash and cash equivalents at the end of the period were ¥511,074,757.90, with discrepancies noted in restricted cash[37] - Total assets amounted to CNY 5,133,824,950.78, with current assets at CNY 3,081,195,121.96 and non-current assets at CNY 2,052,629,828.82[83] - Total liabilities reached CNY 2,380,665,925.31, with current liabilities totaling CNY 2,341,744,262.53[85] Shareholder Information - The total number of shareholders at the end of the reporting period was 36,599[23] - The largest shareholder, Jiangxi Electronic Group Co., Ltd., held 21.14% of the shares, with 93,762,092 shares pledged[23] - The total equity attributable to shareholders increased to ¥2,577,384,923.05 from ¥2,446,120,860.04, indicating a growth of about 5.4%[48] Expenses and Costs - Financial expenses increased by 99.34% to ¥42,259,969.98 from ¥21,199,462.20 year-over-year[30] - Total operating costs for Q3 2019 were ¥1,226,160,351.10, up 52.7% from ¥803,141,425.46 in Q3 2018[57] - Research and development expenses for Q3 2019 totaled ¥40,398,617.20, an increase from ¥30,256,495.07 in Q3 2018[57] - Financial expenses for Q3 2019 were CNY 6,897,599.77, significantly higher than CNY 2,657,073.40 in Q3 2018, indicating an increase of about 159.5%[66] Inventory and Receivables - Accounts receivable increased by 71.71% to ¥310,231,664.36 from ¥180,670,761.12 year-over-year[30] - The company's inventory decreased to ¥1,313,505.89 from ¥1,665,999.23, a decline of approximately 21.1%[48] - Accounts receivable decreased to ¥37,815,455.27 from ¥50,315,187.10, representing a decline of approximately 25%[48]

Financial Performance - The company's operating revenue for the first half of 2019 was RMB 2,073,208,293.68, representing a 23.41% increase compared to RMB 1,679,927,068.19 in the same period last year[20]. - The net profit attributable to shareholders of the listed company decreased by 15.66% to RMB 96,422,702.77 from RMB 114,321,284.37 year-on-year[20]. - Basic earnings per share decreased by 15.67% to RMB 0.2174 from RMB 0.2578 in the same period last year[20]. - The weighted average return on net assets decreased by 1.11 percentage points to 3.87% from 4.98% year-on-year[20]. - The net profit for the period was 96.42 million RMB, a decrease of 15.66% compared to the same period last year, primarily due to rising labor costs, quality control costs, and increased raw material prices[33]. - The company reported a total of 6.29 million RMB in non-recurring gains and losses for the period[23]. - The company reported a net cash flow from investment activities of ¥67,183,686.45, a substantial increase of 2,492.17% from ¥2,591,796.13[38]. - The company reported a total operating revenue of 2.073 billion RMB, representing a year-on-year growth of 23.41%[33]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at RMB -124,781,583.49, a significant decline of 367.39% compared to RMB 46,666,159.34 in the previous year[20]. - Cash flow from operating activities for the first half of 2019 was CNY 1,645,595,219.60, an increase of 28% from CNY 1,286,653,147.27 in the same period of 2018[118]. - Total cash inflow from operating activities amounted to 1,778,353,634.16 CNY, up from 1,489,826,813.24 CNY, reflecting a growth of approximately 19.4%[121]. - Cash outflow from operating activities increased to 1,903,135,217.65 CNY, compared to 1,443,160,653.90 CNY, representing a rise of about 32%[121]. - The ending balance of cash and cash equivalents was 479,247,980.18 CNY, up from 367,978,457.12 CNY, indicating a positive change in liquidity[123]. Assets and Liabilities - The total assets of the company increased by 8.04% to RMB 5,546,633,375.94 from RMB 5,133,824,950.78 at the end of the previous year[20]. - Current liabilities totaled CNY 2,666,791,771.95, which is an increase of 13.87% from CNY 2,341,744,262.53[99]. - The total liabilities amounted to CNY 2,717,456,642.15, up from CNY 2,380,665,925.31, indicating a rise of 14.16%[101]. - The total non-current assets reached CNY 2,238,961,965.59, up from CNY 2,052,629,828.82, reflecting an increase of 9.06%[99]. - The total equity attributable to shareholders of the parent company was CNY 2,518,499,655.13, an increase of 2.95% from CNY 2,446,120,860.04[101]. Research and Development - Research and development expenses rose by 8.13% to ¥69,185,226.37, attributed to increased investment in new product development[39]. - The company developed new technologies and products, including various types of LED backlight sources and high-temperature superconducting induction heating devices, to support industrial transformation[34]. - The company is recognized as a key high-tech enterprise under the National Torch Program and has established several research centers to enhance its technological capabilities[31]. Market and Industry Trends - The LED backlight and application products segment experienced explosive growth with a revenue increase of 82% year-on-year[34]. - The LED industry in China is expected to grow at a compound annual growth rate of approximately 18% from 2018 to 2020, driven by policy support and increasing market demand[28]. - The fiber optic cable industry is rapidly developing, with China becoming the largest manufacturer and market for fiber optic cables globally[28]. Corporate Governance and Compliance - The company did not propose any profit distribution plan or capital reserve transfer to increase share capital during the reporting period[6]. - The company has no major litigation or arbitration matters during the reporting period[63]. - The company has no significant related party transactions during the reporting period[66]. - The company complies with environmental protection laws and has not faced penalties for violations during the reporting period[76]. Shareholder Information - The largest shareholder, Jiangxi Electronic Group Co., Ltd., holds 93,762,092 shares, accounting for 21.14% of the total shares[84]. - As of the end of the reporting period, the total number of common shareholders was 39,295[84]. - The company has committed to distributing at least 30% of the average distributable profit from the last three years in cash dividends from 2018 to 2020[59]. Strategic Initiatives - The company aims to leverage its existing R&D capabilities to enhance its strategic focus on high-tech industries and increase investment in industrial upgrades and transformation projects[37]. - The company is focusing on scaling operations and differentiating its products to mitigate competitive pressures in the LED market[52]. - The company plans to enhance internal controls and management efficiency to address operational risks due to decentralized production[52]. Accounting and Financial Reporting - The financial statements were approved by the board of directors on August 16, 2019[151]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that its financial reports reflect a true and complete picture of its financial status[158]. - The company has made adjustments to its accounting policies in accordance with the new financial instrument standards effective from January 1, 2019[79].

2019 年第一季度报告 公司代码：600363 公司简称：联创光电 江西联创光电科技股份有限公司 2019 年第一季度报告 1 / 25 2019 年第一季度报告 | --- | --- | |------------------|-------| | | | | | | | 目录 | | | | | | 一、重要提示. | | | 二、公司基本情况 | | | 三、重要事项 . | | | 四、附录 | | 2 / 25 2019 年第一季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人曾智斌、主管会计工作负责人陈国锋及会计机构负责人（会计主管人员）唐征保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |---------------------------------------- ...

Financial Performance - The company's operating revenue for 2018 was RMB 3,445,562,477.86, representing a 14.50% increase compared to RMB 3,009,262,847.19 in 2017[25] - The net profit attributable to shareholders of the listed company was RMB 227,161,742.82, an increase of 14.01% from RMB 199,241,521.04 in the previous year[25] - The net profit after deducting non-recurring gains and losses was RMB 213,175,944.64, reflecting a 13.71% increase from RMB 187,467,526.35 in 2017[25] - The net cash flow from operating activities was RMB 37,381,576.10, up 9.95% from RMB 33,997,263.66 in 2017[25] - The total assets at the end of 2018 were RMB 5,133,824,950.78, a 20.27% increase from RMB 4,268,727,408.65 at the end of 2017[25] - The net assets attributable to shareholders of the listed company increased by 9.27% to RMB 2,446,120,860.04 from RMB 2,238,516,442.29 in 2017[25] - The basic earnings per share for 2018 were RMB 0.51, a 13.33% increase from RMB 0.45 in 2017[25] - The diluted earnings per share also stood at RMB 0.51, reflecting the same growth rate of 13.33% compared to the previous year[25] - The weighted average return on net assets was 9.68%, an increase of 0.42 percentage points from 9.26% in 2017[25] Business Segments - The company's main business revenue from optoelectronic devices and application products reached CNY 2.921 billion, a growth of 17.45% compared to the previous year[44] - The packaging device industry saw significant growth due to increased market demand and customized product offerings[44] - The backlight business maintained revenue growth but faced a slight decline in profitability due to rising raw material tariffs from the US-China trade conflict[44] - Cable products generated revenue of 39,777.88 million RMB, accounting for 11.54% of total revenue, with a growth rate of 3.32%[50] - The gross margin for cable products decreased to 6.51%, down 1.48 percentage points from the previous year, primarily due to declining sales prices[55] - The gross margin for optoelectronic devices and application products was 13.30%, down 2.17 percentage points from the previous year, mainly due to rising labor costs and material prices[55] Research and Development - Total R&D investment amounted to ¥126,053,258.92, representing 3.66% of operating revenue, with 509 R&D personnel, making up 8.41% of total staff[66] - The company completed 8 technology innovation projects and initiated 8 new projects, focusing on advanced LED technologies and smart control systems[48] - Research and development investments increased by 30%, totaling 150 million RMB, focusing on advanced optical technologies[164] Cash Dividends - The company plans to distribute a cash dividend of RMB 0.52 per 10 shares, totaling RMB 23,060,791.00, which accounts for 10.15% of the net profit attributable to shareholders[8] - In 2018, the cash dividend per 10 shares was CNY 0.52, with a total cash dividend amounting to CNY 23.06 million, representing 10.15% of the net profit attributable to shareholders[98] - The company distributed approximately CNY 58.54 million in cash dividends over the past three years, which accounts for 30.08% of the average net profit attributable to the parent company during that period[95] - The company has committed to distributing no less than 30% of the average distributable profit over the last three years in cash dividends for the years 2018 to 2020[103] Market Outlook - The LED industry in China is expected to achieve a compound annual growth rate of approximately 18% from 2018 to 2020, driven by policy support and growing downstream demand[78] - The Mini LED market is expected to reach a scale of 2 billion yuan in 2019, driven by high growth expectations in small pitch and Mini LED applications[80] - The fiber optic cable market in China transitioned from a state of supply shortage to oversupply in 2018, due to completed 4G network construction and the lack of 5G rollout[83] - The sales revenue of the cable industry in China is projected to exceed 1.4 trillion yuan in 2018, highlighting significant market potential despite challenges[87] - The company aims for a stable growth rate of no less than 15% in both revenue and profit over the next decade, targeting to build a 10 billion yuan enterprise[88] - For 2019, the company plans to achieve a revenue of 3.63 billion yuan, focusing on strategic projects and cost management measures[89] Corporate Governance - The board of directors held eight meetings during the year, with all directors attending in person or via communication methods, ensuring effective governance[189] - The company has established a comprehensive internal control evaluation report, which was approved by the board and audited by an external accounting firm[193] - The company ensures compliance with information disclosure regulations, maintaining transparency and fairness in reporting to shareholders[186] - The company maintains independence from its controlling shareholder in business, personnel, assets, and financial matters, ensuring autonomous operations[185] Employee Management - The company has a total of 6,055 employees, with 4,652 in production, 195 in sales, 509 in technology, 64 in finance, and 635 in administration[177] - The number of employees with a master's degree or above is 45, while those with a bachelor's degree total 503[177] - The remuneration policy for subsidiary management includes a base salary determined by the previous year's performance, divided into 50% basic salary, 30% quarterly performance pay, and 20% annual performance pay[178] - The company conducted two management training sessions in 2018 to enhance management knowledge and skills, improving the overall training system[181] Legal Matters - The company is involved in significant litigation matters, including a lawsuit with Jiangxi Lianchuang Optoelectronics Technology Co., Ltd. regarding a share transfer dispute, with a claim amount of RMB 10 million[113] - Another ongoing litigation involves Jiangxi Lianchuang Beijjing Optoelectronics Co., Ltd. claiming RMB 1,337,452.04 for unpaid goods, with the first-instance judgment already effective[113] - The company has a total of RMB 4,994,968.97 claimed in a contract dispute with Jiangxi Cable Co., Ltd., with mediation resulting in a payment agreement[113] - The company has not faced any penalties or corrective actions from regulatory bodies during the reporting period[118] Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders was 41,065, down from 47,760 at the end of the previous month[147] - The largest shareholder, Jiangxi Electronic Group Co., Ltd., holds 93,762,092 shares, representing 21.14% of the total shares, with 93,400,000 shares pledged[147] - The second-largest shareholder, Deng Kaiyuan, increased his holdings by 3,668,069 shares to a total of 26,121,800 shares, representing 5.89% of the total shares[147] - The company has no reported changes in its ordinary share capital structure during the reporting period[146] - The company does not have any strategic investors or general legal entities that became top 10 shareholders due to new share placements[150] Risk Management - The company faces risks including price declines in product sales, exchange rate fluctuations, raw material price volatility, and accounts receivable risks[93] - The management regularly conducts credit risk assessments for major customers, focusing on historical settlement records and current payment capabilities[198] - The company implements a portfolio impairment assessment based on aging analysis and historical records of impairment losses for accounts receivable that do not require individual assessment[198]

Financial Performance - Operating revenue for the first nine months reached CNY 2,496,538,466.62, a 15.16% increase year-on-year[6] - Net profit attributable to shareholders increased by 1.45% to CNY 175,201,241.11[6] - The company's basic earnings per share increased by 1.46% to CNY 0.3951[6] - The net profit for the first nine months of 2018 was not explicitly stated, but the retained earnings increased to ¥1,093,090,857.89 from ¥966,090,058.65, indicating a growth of approximately 13.1%[37] - The net profit attributable to shareholders for Q3 2018 was ¥60.88 million, up from ¥57.11 million in the same period last year, reflecting a growth of 4.8%[41] - The total comprehensive income for Q3 2018 reached ¥72.72 million, compared to ¥64.50 million in Q3 2017, indicating an increase of 12.8%[41] Cash Flow - Net cash flow from operating activities improved significantly to CNY 108,918,993.01, compared to a negative cash flow of CNY -90,169,572.30 in the same period last year[6] - Cash inflow from sales of goods and services was ¥2,068,845,749.11, significantly higher than ¥1,576,333,477.07 in the same period last year[47] - Total cash outflow for operating activities was ¥2,216,682,659.09, compared to ¥1,902,799,984.08 in the previous year[47] - The net increase in cash and cash equivalents was negative at -¥177,230,340.27, compared to -¥77,621,792.72 in the previous year[48] Assets and Liabilities - Total assets increased by 7.38% to CNY 4,583,823,243.05 compared to the end of the previous year[6] - The total liabilities as of September 30, 2018, were CNY 1,888,470,678.75, compared to CNY 1,748,273,534.94 at the beginning of the year[34] - The total equity attributable to shareholders of the parent company increased to CNY 2,396,292,874.55 from CNY 2,238,516,442.29 at the beginning of the year[34] - The accounts receivable balance increased to CNY 1,143,849,329.60 from CNY 1,061,745,711.24 at the beginning of the year[32] - The inventory balance as of September 30, 2018, was CNY 639,437,412.72, up from CNY 591,186,572.63 at the beginning of the year[32] Operating Costs and Expenses - Total operating costs for Q3 2018 were ¥806,812,456.00, compared to ¥801,095,789.84 in Q3 2017, indicating a year-on-year increase of about 0.2%[39] - The gross profit margin for the first nine months of 2018 was approximately 0.007, with total revenue of ¥2,496,538,466.62 and total costs of ¥2,485,923,506.49[39] - The company incurred financial expenses of ¥2.66 million in Q3 2018, which is an increase from ¥1.48 million in Q3 2017, representing an increase of 80.4%[43] - Research and development expenses for Q3 2018 were ¥30,256,495.07, compared to ¥27,074,471.19 in Q3 2017, reflecting an increase of about 8.1%[39] Other Income and Financial Activities - Other income surged by 1204.13% to CNY 17,370,077.49, primarily due to increased government subsidies related to operations[17] - Financial expenses decreased by 42.13% to CNY 21,199,462.20, attributed to reduced borrowings and fluctuations in the USD exchange rate[17] - The company reported investment income of ¥61,724,953.14 for Q3 2018, up from ¥55,985,821.95 in Q3 2017, representing an increase of approximately 10.3%[39] - The company reported a cash inflow from investment activities of ¥38,262,057.90, slightly up from ¥37,569,009.11 year-over-year[48]