Financial Performance - The company's operating revenue for the first half of 2020 was CNY 2,055,254,800.71, representing a 63.88% increase compared to CNY 1,254,138,393.13 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was CNY 7,505,763.47, a significant recovery from a loss of CNY 74,940,544.21 in the previous year[18]. - The net cash flow from operating activities was CNY 40,043,509.40, a turnaround from a negative cash flow of CNY -626,190,053.91 in the same period last year[18]. - The basic earnings per share for the first half of 2020 was CNY 0.01, compared to a loss of CNY -0.06 in the same period last year[18]. - The weighted average return on net assets increased to 0.23% from -2.08% in the previous year, reflecting a positive trend[18]. - The company achieved total operating revenue of CNY 2,055,254,800.71, a year-on-year increase of 63.88%[38]. - The net profit attributable to shareholders was CNY 750.58 million, marking a turnaround from loss to profit[38]. - The company reported a comprehensive income total of ¥7,460,713.55 for the first half of 2020, compared to a comprehensive loss of ¥74,472,602.92 in the first half of 2019[134]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 6,633,955,292.06, an increase of 3.11% from CNY 6,433,686,037.39 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company were CNY 3,331,046,712.61, showing a slight increase of 0.22% from CNY 3,323,585,999.06 at the end of the previous year[18]. - Cash and cash equivalents at the end of the period amounted to ¥939,068,948.46, representing 14.16% of total assets, a decrease of 14.04% compared to the same period last year[42]. - Trade financial assets increased significantly to ¥632,723,489.47, accounting for 9.54% of total assets, a rise of 954.54% year-on-year, primarily due to the purchase of wealth management products[42]. - Accounts receivable reached ¥1,347,649,473.18, making up 20.31% of total assets, an increase of 88.57% compared to the previous year, driven by higher sales[42]. - Total liabilities increased to CNY 3,302,908,579.45 from CNY 3,110,100,038.33, representing a growth of approximately 6.18%[122]. - Current liabilities rose to CNY 2,248,263,727.35, compared to CNY 1,926,657,130.88, indicating an increase of approximately 16.68%[122]. Market and Industry Insights - The company's main business includes crystal rod/silicon ingot growth, silicon wafer processing, battery manufacturing, module packaging, and photovoltaic power generation[22]. - In the first half of 2020, the domestic photovoltaic industry maintained stable growth, with polysilicon production reaching 205,000 tons, a year-on-year increase of 32.2%[25]. - The company plans a total investment of 1.92 billion yuan for capacity expansion, including a 1 billion yuan investment in a new 3GW silicon rod and wafer project[30]. - The company is focused on maintaining a competitive edge through vertical integration across the entire industry chain[30]. - The global photovoltaic industry is experiencing intensified competition, with a trend towards higher industry concentration[25]. - The company is facing risks from domestic photovoltaic industry policy changes, which may impact the demand for photovoltaic components[55]. - The company is also exposed to risks from overseas market policy changes, particularly after the EU lifted anti-dumping duties on Chinese photovoltaic products[56]. Research and Development - The company emphasizes R&D investment to enhance product efficiency and quality, aiming to lower manufacturing costs[32]. - The R&D team is focusing on over 10 projects, including P-type LBSF battery technology and N-type TOPCON technology, to enhance product performance and efficiency[33]. - The company holds 345 patents as of June 30, 2020, including 104 invention patents, which supports its strong R&D capabilities[37]. - The company developed and mass-produced high-efficiency "Affordable Pioneer" modules, achieving a maximum front power of 540W+ using 182mm silicon wafers[36]. Environmental and Social Responsibility - The company emphasizes its environmental policy focusing on safety, prevention, and continuous improvement in environmental protection[85]. - The company has maintained a 100% operational rate for its environmental protection facilities, ensuring compliance with pollution discharge standards[92]. - The company reported that all external pollutants were within the permitted discharge limits during the reporting period[91]. - The company has established an emergency response mechanism for environmental incidents, which has been filed with the local environmental protection bureau[94]. Legal and Compliance - The company received a total of 1,271 civil lawsuits from investors due to alleged false statements, with a total claim amounting to RMB 130,881,424.51[71]. - The company has not faced any penalties or corrective actions from courts during the reporting period[72]. - The commitments made by the actual controller and shareholders include ensuring no substantial competition with Yijing Optoelectronics and maintaining fair related-party transactions[65]. Future Outlook - The company plans to continue technological innovation and dynamic capacity adjustments to enhance market competitiveness and risk resistance[55]. - The company aims to explore emerging markets while controlling risks associated with international trade policies[56]. - The company is focusing on enhancing its capital structure and managing cash flows effectively to support future growth initiatives[147].

2020 年第一季度报告 公司代码：600537 公司简称：亿晶光电 亿晶光电科技股份有限公司 2020 年第一季度报告 1 / 24 2020 年第一季度报告 一、 二、 11Í 四、 目录 | --- | |----------------| | | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 24 2020 年第一季度报告 单位：元 币种：人民币 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 公司负责人李静武、主管会计工作负责人林世宏及会计机构负责人（会计主管人员）林世宏 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 2019 was approximately CNY 3.56 billion, a slight increase of 0.25% compared to CNY 3.55 billion in 2018[23]. - The net profit attributable to shareholders for 2019 was a loss of approximately CNY 303 million, representing a decrease of 541.69% compared to a profit of CNY 68.6 million in 2018[23]. - The net cash flow from operating activities for 2019 was a negative CNY 93.16 million, a decline of 121.61% from CNY 431.1 million in 2018[23]. - The total assets at the end of 2019 were approximately CNY 6.43 billion, down 3.68% from CNY 6.68 billion at the end of 2018[23]. - The net assets attributable to shareholders decreased by 8.95% to approximately CNY 3.32 billion at the end of 2019, compared to CNY 3.65 billion at the end of 2018[23]. - The basic earnings per share for 2019 was a loss of CNY 0.06, a decrease of 533.33% from CNY 0.06 in 2018[26]. - The weighted average return on net assets for 2019 was 1.89%, a decrease of 10.58 percentage points from 2018[26]. - The company did not distribute cash dividends or issue bonus shares for the reporting period[7]. - The company’s gross margin decreased, contributing to the overall decline in profit and net profit due to rapid price drops in the photovoltaic module market[46]. - The company reported a net cash flow from operating activities of -¥93,158,946.91, a decrease of 121.61% from the previous year[66]. Sales and Market Performance - In Q1 2019, the company reported a revenue of approximately ¥527.33 million, which increased to ¥726.80 million in Q2, followed by ¥656.05 million in Q3, and a total of ¥1.65 billion for the year[29]. - The company has expanded its overseas sales to 34 countries and regions, with domestic sales accounting for over 70% of total sales during the reporting period[34]. - The company’s overseas sales revenue increased by 336.59%, while domestic sales revenue decreased by 21.51%[52]. - The company achieved operating revenue of RMB 3,559,040,092.73, a year-on-year increase of 0.25%[46]. - The company ranked 14th globally in solar module shipments with 2GW in 2019, and 8th in the domestic market with 1.48GW[94]. Research and Development - The company has invested in R&D, holding a total of 345 patents, including 102 invention patents, which supports its competitive edge in the solar energy market[37]. - The company applied for a total of 29 patents in 2019, including 4 invention patents and 25 utility model patents[42]. - The company plans to continue research on over 10 projects related to P-type LBSF battery technology and N-type TOPCON solar cells in 2020[42]. - The company’s R&D expenses decreased by 5.38% to RMB 112,613,985.82, reflecting reduced investment in research and development[47]. - The company emphasizes technology research and development, maintaining a high proportion of R&D investment to stay competitive in the photovoltaic industry[99]. Production and Capacity - The company achieved a 100% production capacity for PERC technology, which has been a key focus since 2013, enhancing its technological leadership in the industry[37]. - The production capacity of bifacial double-glass modules reached 1.25GW, while the capacity for bifacial half-cell modules was 600MW[42]. - The company has a total of 1,130 MW of solar cell production capacity, with a utilization rate of 86.92%[83]. - The production of monocrystalline solar cells reached 1,063 MW, indicating a strong focus on high-efficiency products[83]. - The company plans to invest approximately ¥32,000 million in new production lines, with an expected commissioning date in 2020[83]. Environmental and Social Responsibility - The company has been recognized as a "green factory" by the Ministry of Industry and Information Technology, reflecting its commitment to sustainable practices[37]. - The company emphasizes its commitment to environmental responsibility and sustainable development in its operations[140]. - The company actively participates in social responsibility initiatives, including local economic development and public welfare projects[140]. - The company has established an emergency response mechanism for environmental incidents, with a comprehensive plan filed with the local environmental protection bureau[148]. - The concentration of particulate matter emissions is controlled at approximately 24 mg/m3, well below the emission standard of 120 mg/m3[141]. Corporate Governance and Legal Matters - The company has faced public reprimands from the Shanghai Stock Exchange and the China Securities Regulatory Commission for information disclosure violations[185]. - The company has received a total of 1,163 civil lawsuits from investors due to alleged false statements, with a total claim amounting to RMB 121,015,647.76[113]. - The company has committed to ensuring that any related party transactions are fair and conducted at market prices, adhering to legal and regulatory requirements[108]. - The company has established protocols to ensure compliance with related party transaction disclosure obligations[108]. - The company has committed to addressing any potential land ownership issues that may arise from its asset restructuring[108]. Shareholder Information - The company’s total number of ordinary shareholders at the end of the reporting period is 54,882, down from 56,716 the previous month[156]. - The largest shareholder, Shenzhen Qinchengda Investment Management Co., Ltd., holds 254,696,214 shares, representing 21.65% of the total shares[158]. - The controlling shareholder changed from Xun Jianhua to Shenzhen Qinchengda Investment Management Co., Ltd. on May 8, 2019[165]. - There are no other shareholders holding more than 10% of the shares[166]. - The company does not have any restrictions on share reduction[166]. Employee and Executive Compensation - The total pre-tax remuneration for the chairman, Wu Liuqiang, was 775,000 CNY, while the financial director, Lin Shihong, received 840,800 CNY[169]. - The total pre-tax remuneration for all listed directors and supervisors amounted to 7,336,600 CNY for the reporting period[172]. - The company has a total of 1,827 employees, with 1,366 production personnel, 50 sales personnel, 263 technical personnel, 19 financial personnel, and 122 administrative personnel[188]. - The remuneration policy is based on principles such as total control, position value, ability value, internal fairness, performance correlation, and market competition[189]. - Regular training programs are organized for directors, supervisors, and senior management, as well as for employees based on departmental needs[190].

Financial Performance - Operating revenue for the first nine months was CNY 1,910,190,602.13, a decline of 21.57% year-on-year[18]. - Net profit attributable to shareholders was a loss of CNY 39,876,909.26, representing a decrease of 161.10% compared to the same period last year[18]. - Basic earnings per share were CNY -0.03, down 150.00% from CNY 0.06 in the previous year[21]. - Total operating revenue for Q3 2019 was ¥656,052,209, a decrease of 25.2% compared to ¥876,967,408 in Q3 2018[51]. - Net profit for Q3 2019 was ¥35,063,634.95, compared to ¥48,130,346.18 in Q3 2018, reflecting a decline of 27.1%[58]. - The company reported a total loss of 30,833,347.36 RMB for the first three quarters of 2019, highlighting ongoing financial challenges[63]. - The company experienced a significant increase in operating expenses, particularly in management and financial costs, impacting overall profitability[63]. Cash Flow and Liquidity - Net cash flow from operating activities was negative at CNY -342,580,647.72, a decline of 265.86% year-on-year[18]. - Cash and cash equivalents decreased by 31.55% to ¥1,090,638,744.65 from ¥1,593,352,121.18[29]. - The net cash flow from operating activities was -342,580,647.72 RMB, a significant decline compared to 206,551,884.92 RMB in the previous period, indicating a negative cash flow trend[68]. - Cash outflow from financing activities totaled 298,036,539.64 RMB, significantly higher than 94,259,644.61 RMB previously, indicating increased financial obligations[70]. - The cash and cash equivalents at the end of the period decreased to 560,428,795.90 RMB from 936,833,788.08 RMB, reflecting a decline in liquidity[70]. Assets and Liabilities - Total assets decreased by 6.36% to CNY 6,254,619,817.58 compared to the end of the previous year[18]. - Total liabilities and shareholders' equity amounted to ¥4,044,826,296.60, indicating a stable financial position despite revenue decline[51]. - Current liabilities decreased from $1.91 billion to $1.61 billion, a reduction of about 15.2%[43]. - Non-current liabilities decreased from $1.12 billion to $1.06 billion, a decrease of approximately 5%[43]. - The company’s total liabilities to total assets ratio is approximately 45.3%, indicating a moderate level of leverage[78]. Shareholder Information - The number of shareholders at the end of the reporting period was 56,536[22]. - The largest shareholder, Shenzhen Qinchengda Investment Management Co., Ltd., held 21.65% of the shares[22]. - Total equity attributable to shareholders decreased from $3.65 billion to $3.59 billion, a decline of about 1.6%[43]. Operational Efficiency and Strategy - The company aims to improve operational efficiency to counteract the revenue drop experienced in 2019[56]. - The company plans to focus on market expansion and new product development in the upcoming quarters[56]. - The company has not disclosed any new product developments or market expansion strategies in this report[18]. Other Financial Metrics - Investment income increased by 44.61% to ¥9,045,366.97 from ¥6,254,986.21[32]. - Financial expenses decreased by 55.69% to ¥2,848,517.23 from ¥6,428,873.42[32]. - The company reported a weighted average return on equity of -1.10%, down 2.90 percentage points from the previous year[21]. - The company has received civil litigation materials from 866 investors totaling ¥96,915,964.56 due to false statements[33].

Financial Performance - The company's operating revenue for the first half of 2019 was ¥1,254,138,393.13, a decrease of 19.53% compared to ¥1,558,442,550.80 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was -¥74,940,544.21, compared to a profit of ¥17,139,164.51 in the same period last year[20]. - The net cash flow from operating activities was -¥626,190,053.91, worsening from -¥131,808,882.66 in the previous year[20]. - The total assets at the end of the reporting period were ¥5,736,635,050.86, down 14.12% from ¥6,679,502,455.81 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company decreased by 2.68% to ¥3,552,124,237.63 from ¥3,650,124,025.91 at the end of the previous year[20]. - The basic earnings per share for the first half of 2019 was -¥0.06, compared to ¥0.01 in the same period last year[20]. - The weighted average return on net assets was -2.08%, a decrease of 2.56 percentage points from 0.48% in the previous year[20]. - The total operating revenue for the first half of 2019 was CNY 1,254,138,393.13, a decrease of 19.5% compared to CNY 1,558,442,550.80 in the same period of 2018[121]. - The net profit attributable to shareholders for the first half of 2019 was a loss of CNY 74,940,544.21, compared to a profit of CNY 17,139,164.51 in the same period of 2018[126]. - The total comprehensive income for the first half of 2019 was a loss of CNY 74,472,602.92, contrasting with a gain of CNY 17,095,437.22 in the previous year[126]. Market and Industry Trends - The company's solar cell module sales in the domestic market accounted for approximately 60% of total sales, while overseas shipments represented about 40% of total shipments, indicating a recovery in international markets[27]. - In the first half of 2019, China's polysilicon production reached 155,000 tons, an increase of 8.45% year-on-year; wafer production was 63GW, up 26.0%; cell production was 51GW, up 30.8%; and module production was 47GW, up 11.9%[27]. - The export volume of solar modules in the first half of 2019 was approximately 34GW, a year-on-year increase of 99%, while domestic new installations decreased by 53.10% to 11.4GW[27]. - The overall photovoltaic manufacturing industry in China is expected to maintain steady growth throughout 2019, driven by recovering overseas demand and supportive government policies[30]. - The competitive landscape in the photovoltaic industry is intensifying, with larger companies gaining market share and smaller firms facing increased survival pressure[27]. Research and Development - The company plans to increase its focus on technology research and development to enhance product quality and efficiency in response to the competitive market environment[30]. - The company has applied for a total of 12 patents during the reporting period, including 3 invention patents and 9 utility model patents[36]. - The company’s R&D expenses decreased by 26.71% to CNY 45,328,886.19 compared to the previous year[37]. Cash Flow and Financial Management - The company's cash flow from operating activities showed a net outflow of CNY 626,190,053.91, a significant increase in outflow compared to the previous year[37]. - The company reported a total cash inflow from investment activities of 589,338,861.89 RMB, compared to 353,710,633.56 RMB in the first half of 2018, showing an increase of approximately 66.7%[136]. - Cash outflow for investment activities was 317,538,806.52 RMB, down from 740,175,382.31 RMB in the same period of 2018, indicating a reduction of about 57.0%[136]. - The net cash flow from financing activities was -23,547,181.85 RMB, compared to -15,305,780.78 RMB in the same period last year, reflecting increased cash outflows[141]. Shareholder and Equity Information - The company did not propose any profit distribution plan or capital reserve transfer to increase share capital for the reporting period[6]. - The actual controller, Xun Jianhua, transferred 235 million shares (20% of total shares) to Qinchengda Investment for a price of 2.75 billion yuan, resulting in Qinchengda holding 21.65% of the company[52]. - The total owner's equity at the end of the period was 3,552,124,237.63 RMB, reflecting a decrease due to losses incurred during the period[144]. - The company paid dividends totaling 23,527,185.36 RMB during the reporting period[144]. Environmental and Compliance - The company has established a comprehensive environmental protection management system, ensuring a 100% operational rate of environmental protection facilities[86]. - The company has been listed as a key pollutant discharge unit, with all external pollutants meeting discharge standards during the reporting period[83]. - The company has installed real-time monitoring systems for external pollutant discharge, connected to environmental protection departments[86]. Legal and Regulatory Matters - The company has received a total of 866 civil lawsuits from investors regarding false securities statements, with a total claim amount of RMB 96,915,964.56[67]. - The company and its controlling shareholders have no unfulfilled court judgments or significant debts due during the reporting period[68]. - There are no significant related party transactions reported during the period[75].

Financial Performance - Operating revenue increased by 18.99% to CNY 527,334,839.85 year-on-year[11] - Net profit attributable to shareholders decreased by 400.54% to a loss of CNY 16,032,361.95 compared to a profit of CNY 5,334,434.16 in the same period last year[11] - Basic earnings per share decreased by 322.22% to CNY -0.01 from CNY 0.0045 in the same period last year[11] - Total profit dropped to CNY -21,315,255.37, a decrease of 878.19% compared to CNY 2,739,084.54[18] - Net profit fell to CNY -16,032,361.95, representing a 400.54% decline from CNY 5,334,434.16[18] - Total comprehensive income for Q1 2019 was a loss of CNY 15.79 million, compared to a profit of CNY 5.31 million in Q1 2018[44] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 357,116,292.73, compared to a net outflow of CNY 120,277,688.54 in the previous year[11] - Cash flow from operating activities showed a net outflow of CNY -357,116,292.73, worsening from CNY -120,277,688.54[18] - Cash flow from investing activities also decreased to CNY -114,402,998.90 from CNY -407,252,179.00[18] - The net cash flow from operating activities for Q1 2019 was -357,116,292.73 RMB, compared to -120,277,688.54 RMB in Q1 2018, indicating a significant decline[53] - Total cash outflow from operating activities in Q1 2019 was 666,067,684.30 RMB, compared to 615,279,592.29 RMB in Q1 2018, showing an increase of about 8.3%[53] - Cash inflow from financing activities in Q1 2019 was 149,730,530.34 RMB, significantly higher than 42,272,580.50 RMB in Q1 2018, marking an increase of approximately 253.5%[53] Assets and Liabilities - Total assets decreased by 8.24% to CNY 6,129,193,178.76 compared to the end of the previous year[11] - Total liabilities decreased from ¥3,029,378,429.90 to ¥2,494,863,581.31, a reduction of approximately 17.6%[32] - Non-current liabilities totaled ¥1,064,845,390.22, down from ¥1,107,977,862.31, reflecting a decrease of about 3.9%[32] - Current assets amounted to ¥828,404,281.20, compared to ¥845,396,041.06, indicating a decline of approximately 2.5%[36] - Total assets decreased from ¥4,109,542,074.75 to ¥4,092,548,336.06, a slight reduction of about 0.4%[39] - The company's equity totaled 3,650,124,025.91, with paid-in capital at 1,176,359,268.00[63] Expenses - Significant increase in sales expenses by 38.68% to CNY 24,868,474.63 due to increased logistics costs from higher sales volume[17] - Financial expenses surged by 177.64% to CNY 10,376,984.17, primarily due to increased loan interest and exchange rate impacts[17] - Total operating costs for Q1 2019 were CNY 554.76 million, up 23.54% from CNY 448.89 million in Q1 2018[41] - Research and development expenses for Q1 2019 were CNY 22.31 million, down 28.66% from CNY 31.25 million in Q1 2018[41] - Financial expenses for Q1 2019 were CNY 10.38 million, an increase of 77.80% compared to CNY 3.74 million in Q1 2018[41] Shareholder Information - The number of shareholders at the end of the reporting period was 61,859[14] - The company received government subsidies amounting to CNY 4,186,115.37 related to normal business operations[11] Other Financial Metrics - The weighted average return on equity decreased by 0.59 percentage points to -0.44%[11] - The company reported an asset impairment loss of CNY 9.22 million in Q1 2019, compared to a gain of CNY 18.97 million in Q1 2018[41] - Other comprehensive income after tax for Q1 2019 was CNY 237,933.49, compared to a loss of CNY 23,501.23 in Q1 2018[44] - The ending balance of cash and cash equivalents as of Q1 2019 was 642,589,537.94 RMB, slightly up from 638,130,998.72 RMB in Q1 2018[55]

Financial Performance - The company's operating revenue for 2018 was approximately RMB 3.55 billion, a decrease of 14.20% compared to RMB 4.14 billion in 2017[22] - Net profit attributable to shareholders for 2018 was RMB 68.60 million, an increase of 40.95% from RMB 48.67 million in 2017[22] - The net cash flow from operating activities reached RMB 431.10 million, representing an 86.09% increase compared to RMB 231.66 million in 2017[22] - The total assets at the end of 2018 were RMB 6.68 billion, a slight increase of 1.23% from RMB 6.60 billion at the end of 2017[24] - The company's net assets attributable to shareholders were RMB 3.65 billion, up 1.48% from RMB 3.60 billion in 2017[24] - Basic earnings per share for 2018 were RMB 0.06, a 50.00% increase from RMB 0.04 in 2017[24] - The weighted average return on net assets for 2018 was 1.89%, an increase of 0.47 percentage points from 1.42% in 2017[24] - The net profit after deducting non-recurring gains and losses was RMB 61.78 million, a significant increase of 79.42% from RMB 34.44 million in 2017[22] - The company reported a net profit of RMB 68,601,414.51, with a cash dividend payout ratio of 34.30%, compared to 31.42% in 2017[97] Revenue and Sales - In 2018, the company achieved total operating revenue of approximately RMB 4.55 billion, with a net profit attributable to shareholders of RMB 68.6 million, reflecting a significant increase compared to the previous year[30] - The company maintained a domestic component shipment volume of 1,425 MW, accounting for over 90% of total shipments, while overseas shipments totaled 108 MW, representing a year-on-year growth of approximately 218%[41] - Solar cell module revenue decreased to approximately ¥3.37 billion, a decline of 15.67% year-over-year, primarily due to lower prices in the domestic market and reduced sales of multicrystalline products[46] - Domestic revenue was approximately ¥3.33 billion, down 17.77% year-over-year, while foreign revenue surged by 186.52% to approximately ¥216 million[46] - Total production of solar modules was 1,574.05 MW, with sales of 1,532.89 MW, reflecting a slight increase in sales volume of 0.23% year-over-year[47] Research and Development - The company maintained a strong focus on R&D, with a total of 316 patents held by the end of the reporting period, including 98 invention patents[33] - The company applied for a total of 64 patents in 2018, including 10 international patents, with 25 invention patents and 39 utility model patents granted[38] - The company’s research and development expenses decreased by 10.93% to CNY 119,012,392.62, reflecting a reduction in R&D investment[42] - The average conversion efficiency for monocrystalline solar cells reached 21.8%, while the highest research and development efficiency was 22.5%[62] - The new product "Janus IV" combines multiple advanced photovoltaic technologies, achieving a comprehensive efficiency exceeding 415W, with a front power output of 390W[55] Production Capacity and Technology - The company’s PERC battery production capacity reached 100%, showcasing its commitment to technological advancement and market leadership[33] - The company’s dual-sided half-cell module production capacity reached 800 MW, with a front efficiency of 22.2%[33] - The company’s dual-glass bifacial module production capacity reached 1.2 GW, and bifacial half-cell module capacity exceeded 800 MW, benefiting from advanced manufacturing technologies[38] - The company reported a production capacity utilization rate of 45.45% for silicon wafers and 89.11% for solar cells, with the overall utilization rate for solar cells at 98.91%[74] - The company’s solar cell production included 185.91 MW of polycrystalline cells and 972.49 MW of monocrystalline cells, with a total capacity of 1,158.40 MW[74] Market Strategy and Expansion - The company plans to continue expanding its overseas market presence, leveraging its global brand advantages and enhancing sales channel layouts[38] - The company plans to expand its battery manufacturing capacity while targeting a total module shipment of 1.8 GW for 2019, contingent on market conditions and macroeconomic policies[90] - The company is actively exploring non-dumping regions in overseas markets to mitigate risks from trade disputes and policy changes in countries like the US and India[92] - The company is focusing on enhancing its market competitiveness by improving the efficiency and power output of its solar products[62] - The company is adjusting its market development direction based on accumulated technological advantages and brand effects to navigate the competitive landscape[92] Environmental and Social Responsibility - The company has established a comprehensive environmental protection policy, focusing on "people-oriented, safety first; prevention first, comprehensive management; standardized management, continuous improvement; energy conservation and emission reduction, environmental protection"[140] - The company’s subsidiary, Changzhou Yijing, is listed as a key pollutant discharge unit, with all external pollutants meeting discharge standards during the reporting period[143] - The concentration of particulate matter emissions is controlled at approximately 24 mg/m³, significantly below the discharge standard of 120 mg/m³[140] - The company actively participates in social responsibility initiatives, contributing to local economic development and social stability[139] - The company has established an emergency response mechanism for environmental incidents, with a comprehensive plan filed with the local environmental protection bureau[146] Corporate Governance and Shareholder Structure - The total number of ordinary shareholders at the end of the reporting period was 62,241, an increase from 61,859 at the end of the previous month[156] - The largest shareholder, Xun Jianhua, holds 267,863,978 shares, representing 22.77% of the total shares, with 218,740,000 shares pledged[156] - The company has a clear ownership structure with no undisclosed relationships among the top shareholders[163] - The company has not undergone any changes in controlling shareholders during the reporting period[163] - The company has independent directors who contribute to its governance, ensuring compliance and strategic oversight[174] Legal and Regulatory Compliance - The company has faced significant legal challenges, with a total original claim amounting to 53,024,300.41 yuan, which has not been adjusted for changes in the claims[112] - The company received public reprimands from the Shanghai Stock Exchange and the Ningbo Securities Regulatory Bureau, resulting in fines totaling 600,000 yuan for various executives[113] - The company has not faced any major lawsuits or arbitration matters that were not disclosed in interim announcements[111] - The company has not reported any major contracts or leasing matters that require further disclosure[119] - The company has committed to complying with regulatory requirements in its investment strategies[136] Financial Investments and Guarantees - The company has a total of RMB 1,720,035,146.80 in restricted assets, primarily due to bank guarantees and loans[61] - The total amount of guarantees provided by the company, excluding those to subsidiaries, was RMB 1.369 billion, accounting for 37.51% of the company's net assets[124] - The company has invested RMB 128 million in bank wealth management products, with an expected annual return rate of 3.95%[127] - The company has a total of RMB 1.242 billion in actual used guarantees, which is 34.04% of its net assets[124] - The company is focusing on high liquidity financial instruments and various types of bonds in its investment strategy[130]

2018 年第三季度报告 公司代码：600537 公司简称：亿晶光电 亿晶光电科技股份有限公司 2018 年第三季度报告 1 / 20 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 5 | | 四、 | 附录 | 8 | 2018 年第三季度报告 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 公司负责人荀耀、主管会计工作负责人孙琛华及会计机构负责人（会计主管人员）孙琛华保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 3 / 20 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度末 增减(%) 总资产 6,803,224,667.05 6,598,125,640.84 3.11 归属于上市公司股 东的净资产 3, ...

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 1,558,442,550.80, a decrease of 34.87% compared to the same period last year[18]. - The net profit attributable to shareholders was CNY 17,139,164.51, down 42.00% year-on-year[18]. - The total revenue for the reporting period was approximately ¥1.56 billion, a decrease of 34.87% compared to the same period last year[34]. - The total shipment volume of components was 687 MW, representing a year-on-year decline of about 22.98%[34]. - The net profit attributable to shareholders was ¥17.14 million, down 42% year-on-year, primarily due to intensified market competition and a decrease in gross margin for component products[34]. - The basic earnings per share decreased by 66.67% to CNY 0.01 compared to CNY 0.03 in the same period last year[20]. - The weighted average return on net assets was 0.48%, a decrease of 0.43 percentage points from the previous year[20]. - The company reported a significant increase in total comprehensive income of CNY 17,095,437.22, a decrease of 42.4% compared to CNY 29,550,393.91 in the previous year[102]. - The company reported a net loss of CNY 2,752,885.47 for the first half of 2018, compared to a net loss of CNY 467,467.99 in the same period last year, indicating a deterioration in financial performance[105]. Cash Flow and Assets - The net cash flow from operating activities was -CNY 131,808,882.66, showing an improvement from -CNY 261,846,858.08 in the previous year[18]. - The net cash flow from investing activities was -386,464,748.75 RMB, significantly higher than -83,550,498.49 RMB in the previous period[38]. - The company's cash and cash equivalents were reported at RMB 1,143,502,056.69, down from RMB 1,672,180,202.67, representing a decrease of approximately 31.5%[93]. - The total assets at the end of the reporting period were CNY 6,369,594,669.08, a decrease of 3.46% from the end of the previous year[18]. - The total liabilities decreased by 31.04% for notes payable, amounting to 487,098,993.92 RMB[42]. - The company's total equity was CNY 4,045,812,822.65, down from CNY 4,063,858,384.40, indicating a reduction of 0.4%[100]. Business Operations - The company’s main business includes crystal rod/silicon ingot growth, silicon wafer processing, battery manufacturing, module packaging, and photovoltaic power generation[23]. - The company operates under a "production + sales" business model for its photovoltaic modules, adjusting production based on market demand and orders[23]. - The company achieved a production capacity of 1.2 GW for bifacial double-glass modules and 100% for PERC cells, indicating a focus on high-quality production[32]. - The company has developed high-efficiency monocrystalline cells with a maximum conversion efficiency of 22.4% and polycrystalline cells with 20.2%[32]. - The company is expanding its international sales presence, achieving breakthroughs in emerging markets such as Mexico, Argentina, and New Zealand, covering 19 countries[33]. Market Conditions and Risks - The "531 New Policy" introduced by the government has led to a significant decrease in market demand, causing operational pressures on photovoltaic companies[29]. - The company anticipates intensified market competition due to a significant drop in domestic photovoltaic market demand following the "531 New Policy," which may lead to price reductions for survival[49]. - Trade protection policies in major overseas markets, such as the EU and India, pose risks to the export of Chinese photovoltaic products, potentially affecting sales[50]. - The company faces risks from changes in photovoltaic industry policies, as government subsidies are gradually decreasing, impacting operational pressures[49]. Research and Development - The company has filed for 43 new patents in 2018, including 19 invention patents, bringing the total to 288 patents[31]. - The company plans to continue technological innovation and product customization to enhance market competitiveness and risk resistance[49]. Environmental Compliance - The company’s waste gas emission concentration for particulate matter is controlled at approximately 24 mg/m3, significantly below the standard of 120 mg/m3[74]. - The company’s waste gas emission concentration for nitrogen oxides is controlled at approximately 5.3 mg/m3, well below the standard of 240 mg/m3[74]. - The company has established an emergency response mechanism for environmental incidents, with a comprehensive plan filed with the local environmental protection bureau[78]. - The company has commissioned environmental monitoring for wastewater, waste gas, and noise pollution since February 2018[79]. Legal and Regulatory Matters - The company has faced a total of 43 civil lawsuits from investors regarding false statements, with a total claim amount of RMB 5,110,399.45[60]. - The company was publicly reprimanded by the Shanghai Stock Exchange and fined a total of RMB 600,000 for regulatory violations[62]. - The company has not reported any significant litigation or arbitration matters during the reporting period[61]. Shareholder Information - The total number of ordinary shareholders reached 64,621 by the end of the reporting period[86]. - The number of shares held by the top shareholder, Xun Jianhua, is 267,863,978, representing 22.77% of the total shares[88]. - The company has not proposed any profit distribution or capital reserve transfer plans for the half-year period[54].

Financial Performance - Operating revenue fell by 43.41% to CNY 443,173,549.73, down from CNY 783,074,518.60 in the same period last year[6] - Net profit attributable to shareholders decreased by 126.23%, resulting in a loss of CNY 1,371,378.14 compared to a profit of CNY 5,227,675.74 in the previous year[6] - Basic and diluted earnings per share dropped by 55.00% to CNY 0.0045 from CNY 0.01[6] - The company's operating revenue for Q1 2018 was ¥443,173,549.73, a decrease of 43.41% compared to ¥783,074,518.60 in the previous year[12] - The net profit for Q1 2018 was ¥5,334,434.16, down 43.12% from ¥9,378,952.64 in the same period last year[12] - Total operating revenue for Q1 2018 was ¥443,173,549.73, a decrease of 43.5% compared to ¥783,074,518.60 in the same period last year[24] - Net profit for Q1 2018 was ¥5,334,434.16, a decline of 43.5% from ¥9,378,952.64 in the previous year[25] - The company’s total comprehensive income for Q1 2018 was ¥5,310,932.93, down from ¥9,374,167.71 year-over-year[26] - The net profit for Q1 2018 was -1,378,876.35 RMB, indicating a loss compared to the previous period's loss of -13,741.98 RMB[28] Assets and Liabilities - Total assets decreased by 3.47% to CNY 6,369,137,229.53 compared to the end of the previous year[6] - The total assets as of March 31, 2018, were ¥6,369,137,229.53, down from ¥6,598,125,640.84 at the beginning of the year[17] - The total liabilities decreased to ¥2,767,039,449.68 from ¥3,001,338,793.92 at the beginning of the year[18] - Total assets as of the end of Q1 2018 amounted to ¥4,066,277,278.87, slightly down from ¥4,069,365,810.69[22] - Total liabilities for Q1 2018 were ¥3,797,770.82, a decrease from ¥5,507,426.29 year-over-year[22] - Total equity for Q1 2018 was ¥4,062,479,508.05, compared to ¥4,063,858,384.40 in the previous year[22] Cash Flow - Cash flow from operating activities improved to a loss of CNY 120,277,688.54, compared to a loss of CNY 289,518,664.20 in the same period last year[6] - The cash flow from operating activities showed a net outflow of ¥120,277,688.54, an improvement from a net outflow of ¥289,518,664.20 in the previous year[12] - The net cash flow from operating activities was -120,277,688.54 RMB, improving from -289,518,664.20 RMB in the previous period[31] - Cash inflow from operating activities totaled 495,001,903.75 RMB, down from 536,213,159.15 RMB in the previous period, reflecting a decrease of approximately 7.5%[30] - Cash outflow from operating activities was 615,279,592.29 RMB, a reduction from 825,731,823.35 RMB, showing a decrease of about 25.5%[30] - The net cash flow from investing activities was -407,252,179.00 RMB, compared to a positive cash flow of 4,703,853.99 RMB in the previous period[31] - Cash flow from financing activities showed a net increase of 8,362,969.39 RMB, recovering from a net outflow of -74,890,336.60 RMB in the previous period[32] - The ending cash and cash equivalents balance was 638,130,998.72 RMB, up from 445,601,797.01 RMB in the previous period[32] Shareholder Information - The number of shareholders reached 64,786, with the top ten shareholders holding a combined 50.58% of shares[9] - The largest shareholder, Xun Jianhua, holds 22.77% of shares, with 178,740,000 shares pledged[9] Government Subsidies and Other Income - The company received government subsidies amounting to CNY 5,103,843.70, which are closely related to its normal business operations[8] - The company received government subsidies, contributing to other income of ¥5,535,061.18 in the current period[12] Inventory and Current Assets - Inventory increased by 81.73% to CNY 597,958,428.02, primarily due to stockpiling for solar cell orders[11] - Other current assets surged by 409.97% to CNY 487,514,511.21, mainly due to increased purchases of financial products[11] - The inventory increased to ¥597,958,428.02 from ¥329,035,556.89 at the beginning of the year[16] Investment Income - The company reported an investment income of ¥2,863,982.95, a significant increase of 374.35% compared to ¥603,773.58 in the previous year[12] - The company reported an investment income of ¥2,863,982.95 for Q1 2018, up from ¥603,773.58 in the same period last year[25] Administrative Issues - The company faced administrative penalties from the China Securities Regulatory Commission for disclosure violations related to major arbitration matters[12] Sales Revenue - The company reported a significant decrease in sales revenue from 518,772,130.36 RMB to 471,539,133.37 RMB, reflecting a decline of approximately 9.1%[30]