[Important Notice](index=3&type=section&id=Item%20I.%20Important%20Notice) [Guarantee of Report Authenticity and Completeness](index=3&type=section&id=1.1%20Guarantee%20of%20Report%20Authenticity%20and%20Completeness) The company's Board of Directors, Supervisory Board, and senior management ensure the authenticity, accuracy, and completeness of this quarterly report, assuming corresponding legal liabilities; the report was approved by all directors, but financial statements are unaudited - The company's Board of Directors, Supervisory Board, and all directors, supervisors, and senior management guarantee the authenticity, accuracy, and completeness of this quarterly report, free from false records, misleading statements, or major omissions[3](index=3&type=chunk) - This company's Q1 2019 report is unaudited[3](index=3&type=chunk) [Company Profile](index=3&type=section&id=Item%20II.%20Company%20Profile) [Key Financial Data](index=3&type=section&id=2.1%20Key%20Financial%20Data) In Q1 2019, the company's operating revenue surged by **765.38%** to **RMB 1.197 billion** due to mass sales of LCD panel products, yet net profit attributable to shareholders expanded to a **loss of RMB 333 million**, and net cash flow from operating activities turned negative, indicating profitability and cash flow challenges during business expansion Key Financial Data for Q1 2019 | Indicator | Current Period | Prior Period | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 1,197,125,892.04 | 138,335,844.49 | 765.38 | | Net Profit Attributable to Shareholders (RMB) | -333,108,844.34 | -27,256,994.43 | Not Applicable | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) (RMB) | -344,876,827.91 | -59,643,518.07 | Not Applicable | | Net Cash Flow from Operating Activities (RMB) | -260,405,704.87 | -169,009,895.77 | Not Applicable | | Basic Earnings Per Share (RMB/share) | -0.093 | -0.008 | Not Applicable | | Weighted Average Return on Net Assets (%) | -1.64 | -0.13 | Decreased by 1.51 percentage points | - Total non-recurring gains and losses for the period amounted to **RMB 11.77 million**, primarily comprising government subsidies and debt restructuring gains/losses[5](index=5&type=chunk)[6](index=6&type=chunk) [Shareholder Information](index=4&type=section&id=2.2%20Shareholder%20Information) As of the end of the reporting period, the company had **59,721 shareholders**, with the top three being state-owned legal entities holding over **65%** combined, indicating a highly concentrated ownership structure, including controlling shareholder Xianyang Financial Holding Group Co., Ltd. with **31.01%** - As of the end of the reporting period, the company had a total of **59,721 shareholders**[7](index=7&type=chunk) Top Three Shareholders' Holdings | Shareholder Name | Number of Shares Held | Proportion (%) | Shareholder Nature | | :--- | :--- | :--- | :--- | | Xianyang Financial Holding Group Co., Ltd. | 1,112,759,643 | 31.01 | State-owned Legal Entity | | Xianyang China Electronics Rainbow Group Holding Co., Ltd. | 848,915,786 | 23.66 | State-owned Legal Entity | | Xianyang Urban Construction Investment Holding Group Co., Ltd. | 370,919,881 | 10.34 | State-owned Legal Entity | [Significant Events](index=5&type=section&id=Item%20III.%20Significant%20Events) [Analysis of Significant Changes in Key Financial Statement Items and Indicators](index=5&type=section&id=3.1%20Analysis%20of%20Significant%20Changes%20in%20Key%20Financial%20Statement%20Items%2C%20Financial%20Indicators%20and%20Their%20Reasons) During the reporting period, the company's financial position changed significantly, driven by the mass sales of LCD panel products, leading to a **765.38%** increase in operating revenue, alongside substantial rises in operating costs and selling expenses; R&D investment for LCD panel and substrate glass projects grew by **333.81%**, while net cash outflow from operating activities expanded due to increased procurement for production and sales expansion - The substantial growth in operating revenue, operating costs, and selling expenses was primarily due to the mass sales of LCD panel products during the period[13](index=13&type=chunk) - R&D expenses increased by **333.81%** year-on-year, mainly due to the company's increased investment in related R&D to advance LCD panel and LCD substrate glass projects[12](index=12&type=chunk)[13](index=13&type=chunk) Significant Changes in Income Statement Items | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,197,125,892.04 | 138,335,844.49 | 765.38 | | Operating Costs | 1,385,427,168.10 | 117,728,169.97 | 1,076.80 | | Selling Expenses | 13,256,420.50 | 2,016,312.18 | 557.46 | | R&D Expenses | 66,106,435.48 | 15,238,585.82 | 333.81 | Significant Changes in Cash Flow Statement Items | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -260,405,704.87 | -169,009,895.77 | -54.08 | | Net Cash Flow from Investing Activities | -1,675,121,154.86 | -1,085,735,368.13 | -54.28 | | Net Cash Flow from Financing Activities | 590,894,139.22 | -85,466,129.59 | 791.38 | [Appendix](index=8&type=section&id=Item%20IV.%20Appendix) [Financial Statements](index=8&type=section&id=4.1%20Financial%20Statements) This section provides the company's unaudited Q1 2019 consolidated and parent company financial statements, including the balance sheet, income statement, and cash flow statement, serving as the foundational data for all financial analysis [Consolidated Balance Sheet](index=8&type=section&id=Consolidated%20Balance%20Sheet) As of March 31, 2019, the company's total assets were **RMB 40.41 billion**, a **0.75%** increase from the beginning of the year, while total liabilities were **RMB 20.16 billion**, and net assets attributable to shareholders were **RMB 20.09 billion**, a **1.63%** decrease from the beginning of the year Key Items from Consolidated Balance Sheet (March 31, 2019) | Item | Amount (RMB) | | :--- | :--- | | Total Assets | 40,408,950,962.92 | | Total Liabilities | 20,162,797,553.07 | | Total Equity Attributable to Parent Company Shareholders | 20,087,075,232.73 | [Parent Company Balance Sheet](index=10&type=section&id=Parent%20Company%20Balance%20Sheet) As of March 31, 2019, the parent company's total assets were **RMB 21.61 billion**, with long-term equity investments accounting for the majority at **RMB 16.79 billion**, and total liabilities were **RMB 639 million**, indicating a low asset-liability ratio Key Items from Parent Company Balance Sheet (March 31, 2019) | Item | Amount (RMB) | | :--- | :--- | | Total Assets | 21,612,483,432.88 | | Long-term Equity Investments | 16,793,487,744.15 | | Total Liabilities | 638,790,129.08 | [Consolidated Income Statement](index=13&type=section&id=Consolidated%20Income%20Statement) In Q1 2019, the company achieved total operating revenue of **RMB 1.197 billion**, but total operating costs reached **RMB 1.548 billion**, resulting in an operating loss of **RMB 339 million** and a net loss attributable to parent company shareholders of **RMB 333 million** Key Items from Consolidated Income Statement (Q1 2019) | Item | Amount (RMB) | | :--- | :--- | | I. Total Operating Revenue | 1,197,125,892.04 | | II. Total Operating Costs | 1,548,057,904.93 | | III. Operating Profit | -339,193,193.67 | | Net Profit Attributable to Parent Company Shareholders | -333,108,844.34 | [Parent Company Income Statement](index=14&type=section&id=Parent%20Company%20Income%20Statement) In Q1 2019, the parent company's operating revenue was minimal, with profit primarily derived from investment income; net profit for the period was **RMB 3.65 million**, a significant decrease from **RMB 53.97 million** in the prior year, mainly due to reduced investment income Key Items from Parent Company Income Statement (Q1 2019) | Item | Amount (RMB) | | :--- | :--- | | I. Operating Revenue | 96,285.72 | | Investment Income | 6,190,765.73 | | IV. Net Profit | 3,654,847.64 | [Consolidated Cash Flow Statement](index=16&type=section&id=Consolidated%20Cash%20Flow%20Statement) In Q1 2019, the company experienced a net cash outflow of **RMB 260 million** from operating activities and **RMB 1.675 billion** from investing activities, primarily for fixed asset purchases and investments; financing activities generated a net cash inflow of **RMB 591 million** from new borrowings, with cash and cash equivalents totaling **RMB 4.50 billion** at period-end Key Items from Consolidated Cash Flow Statement (Q1 2019) | Item | Amount (RMB) | | :--- | :--- | | Net Cash Flow from Operating Activities | -260,405,704.87 | | Net Cash Flow from Investing Activities | -1,675,121,154.86 | | Net Cash Flow from Financing Activities | 590,894,139.22 | | Cash and Cash Equivalents at End of Period | 4,504,329,219.01 | [Parent Company Cash Flow Statement](index=17&type=section&id=Parent%20Company%20Cash%20Flow%20Statement) In Q1 2019, the parent company's operating cash flow remained largely stable, while investing activities resulted in a net cash outflow of **RMB 458 million**, mainly for investments and related activities; cash and cash equivalents totaled **RMB 775 million** at period-end Key Items from Parent Company Cash Flow Statement (Q1 2019) | Item | Amount (RMB) | | :--- | :--- | | Net Cash Flow from Operating Activities | 4,855.66 | | Net Cash Flow from Investing Activities | -458,377,822.46 | | Net Cash Flow from Financing Activities | -4,989,664.84 | | Cash and Cash Equivalents at End of Period | 774,612,206.99 |

Financial Performance - The company's operating revenue for 2018 reached ¥1,929,256,246.45, a significant increase of 326.06% compared to ¥452,809,310.37 in 2017[21] - The net profit attributable to shareholders was ¥61,021,939.53, reflecting a slight increase of 2.24% from ¥59,687,172.34 in the previous year[21] - The net cash flow from operating activities surged to ¥1,227,051,944.37, marking a 585.39% increase from ¥179,031,042.91 in 2017[21] - The total assets of the company at the end of 2018 amounted to ¥40,107,988,775.42, which is a 10.08% increase from ¥36,435,991,028.54 in 2017[21] - The net assets attributable to shareholders were reported at ¥20,420,184,077.07, showing a marginal increase of 0.05% from ¥20,409,189,677.77 in 2017[21] - Basic earnings per share decreased by 66.00% to ¥0.017 from ¥0.05 in 2017[22] - The weighted average return on equity dropped to 0.30%, a decrease of 1.03 percentage points from 1.33% in the previous year[22] - The company did not declare any profit distribution for the year due to a negative retained earnings balance at the end of 2018[5] - The company faced significant non-operating losses, with a net profit excluding non-recurring items at -¥896,344,919.61[21] Revenue and Production - In Q4 2018, the company reported a revenue of CNY 1,119,649,338.74, with a net profit attributable to shareholders of CNY 327,909,238.21[25] - The total revenue for 2018 was significantly impacted by non-recurring losses, with a total of CNY 957,366,859.14 in non-recurring gains and losses reported[27] - The company achieved full production capacity of its G8.6 LCD panel project in December 2018, reaching a target of 120K units per month[32] - The liquid crystal panel revenue was CNY 1,204.73 million, accounting for 62.45% of total revenue[55] - The company produced 1.1692 million pieces of liquid crystal glass substrates and sold 1.3103 million pieces in 2018[53] Market and Industry Trends - The global demand for display panels grew by approximately 7.3% in 2018, with expectations of a 6.4% increase in 2019, reaching 228 million square meters[33] - The average size of flat-panel televisions is expected to increase in 2019, driving overall demand for FPD by over 6%[34] - The company is positioned to benefit from national policies supporting the new flat-panel display industry, particularly in the liquid crystal substrate glass sector[35] - The company anticipates a significant increase in demand for G8.5 and above glass substrates, with an estimated annual demand of approximately 350 million square meters by 2020[92] Research and Development - The company’s R&D expenses surged to CNY 235.65 million, a 2,444.31% increase compared to the previous year[54] - The company plans to complete the overall design of the new OLED/LTPS substrate glass production line by 2019[45] - The company is focusing on technological innovation, particularly in the research and industrialization of LTPS substrate glass, to mitigate systemic risks in the industry[109] - The company has actively participated in poverty alleviation efforts, with a total investment of CNY 9.25 million, including CNY 1 million for educational support and CNY 8.25 million for assistance to impoverished disabled individuals[133] Financial Management and Governance - The company has established a complete decision-making process for profit distribution, ensuring the protection of minority shareholders' rights[113] - The company has maintained a strong integrity status among its controlling shareholders and actual controllers, reflecting positively on its governance practices[120] - The company has engaged in cash asset management through bank financial products, with a total investment of CNY 490 million from new stock issuance and CNY 75 million from self-owned funds[129] - The internal control audit report for 2018 was issued by DaXin Accounting Firm, which provided a standard unqualified opinion, confirming that the company maintained effective financial reporting internal controls in all material aspects[199] Employee and Management Structure - The total number of employees in the company and its main subsidiaries is 3,497, with 62 in the parent company and 3,435 in subsidiaries[185] - The company has a total of 156 employees with a master's degree and 2 employees with a doctorate[185] - The company has appointed new executives, including two vice presidents and a financial director, to strengthen its management team[182] - The company implements a performance-based salary system, linking employee income to the company's economic performance and individual performance[186] Environmental Responsibility - The company has established an emergency response plan for environmental incidents, identifying major environmental risks and implementing preventive measures[148] - The company has implemented an environmental self-monitoring plan, conducting quarterly monitoring through qualified third parties and publicly disclosing results[149] - The company’s environmental protection measures include real-time monitoring systems for wastewater and air emissions, ensuring compliance with relevant standards[146] - The company has maintained compliance with national and local environmental laws and regulations throughout its investment and operational processes[147]

| 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 二、 公司基本情况 2018 年第三季度报告 公司代码：600707 公司简称：彩虹股份 彩虹显示器件股份有限公司 2018 年第三季度报告 1 / 18 2.1 主要财务数据 | | 本报告期末 | | 上年度末 | | 本报告期末比上年度 | | | --- | --- | --- | --- | --- | --- | --- | | | | | | | 末增减(%) | | | 总资产 | 38,398,000,298.08 | | 36,435,991,028.54 | | | 5.38 | | 归属于上市公司股东的净资产 | 20,092,286,328.90 | | 20,409,189,677.77 | | | -1.55 | | | 年初至报告期末 | | 上年初至上年报告 | | 比上年同期增减(%) | | | | （1-9 | 月） | 期末（1-9 | 月） | | | | 经营活动产生的 ...