Financial Performance - The company reported a net loss of approximately RMB 3.1 billion for the year 2021, resulting in no profit distribution or capital reserve increase [6]. - The company's operating revenue for the reporting period was approximately ¥921.82 million, a decrease of 19.94% compared to ¥1,151.47 million in the previous year [24]. - The net profit attributable to shareholders was approximately ¥689.93 million, a significant increase from a loss of ¥591.14 million in the previous year, representing a 216.71% change [24]. - The net cash flow from operating activities was approximately -¥37.72 million, an improvement of 44.03% compared to -¥67.40 million in the previous year [24]. - The company's total assets decreased by 22.94% to approximately ¥1.63 billion from ¥2.11 billion in the previous year [24]. - The basic earnings per share for the reporting period was ¥1.1086, compared to a loss of ¥0.9498 in the previous year, marking a 216.72% increase [26]. - The company reported a net profit of -810,824,880.85 RMB for 2021, leading to a total distributable profit of -3,099,074,525.91 RMB, resulting in no profit distribution for the year [160]. Audit and Compliance - The audit report from Zhongxing Caiguanghua Certified Public Accountants indicated a qualified opinion due to significant uncertainties regarding the company's ability to continue as a going concern [5]. - The company’s financial report has been confirmed as true, accurate, and complete by the responsible executives [4]. - The internal control audit report for 2021 received an unqualified opinion, indicating a recovery to a sustainable operating track [109]. - The company is focused on improving its financial reporting accuracy to avoid future regulatory issues [138]. - The company has established a risk control department to enhance its governance structure [135]. Operational Strategy - The management has provided forward-looking statements regarding the 2022 operational plans, which are subject to change based on future internal and external conditions [7]. - The company aims to optimize its asset-liability structure to mitigate risks of delisting and bankruptcy [36]. - The company is focusing on the integration of smart technology in mobile terminals, which is expected to drive future growth in the industry [37]. - The company is focusing on the digital transformation and quality enhancement of the security industry as outlined in the "14th Five-Year Plan" for China's security industry [40]. - The company is exploring the injection of quality assets, including big data, from its controlling shareholder, subject to regulatory approval [96]. Market and Industry Trends - The lithium battery market is projected to expand due to the increasing popularity of consumer electronics, with the company positioned to benefit from this trend [71]. - The global physical security market is expected to reach $171 billion by 2027, with a compound annual growth rate of 6.50%, indicating potential opportunities for the company in the security sector [72]. - The company is responding to the increasing demand for security solutions driven by government initiatives for smart city construction and infrastructure upgrades [74]. - The rapid development of emerging technologies, particularly artificial intelligence and computer vision, is anticipated to significantly change the business models and profitability of security companies [74]. Restructuring and Financial Health - The company successfully completed its restructuring plan by December 31, 2021, mitigating the risks of delisting and bankruptcy [195]. - As of December 29, 2021, the total restructuring investment paid by investors amounted to RMB 899.998158 million [196]. - The company submitted an application to the Shanghai Stock Exchange to lift the delisting risk warning based on improved financial indicators and compliance with relevant regulations [195]. - The company has committed to not transferring shares obtained from the acquisition of Shida Group for 36 months from the date of registration [175]. Governance and Management - The company has established a long-term mechanism to prevent the controlling shareholder from occupying company funds, ensuring independent operation of the board of directors and supervisory board [105]. - The company has conducted 7 board meetings during the reporting period, with all directors fulfilling their duties diligently and responsibly [105]. - The company has experienced turnover in key management positions, including the resignation of the CFO due to salary arrears [137]. - The company has implemented a remuneration management system for directors and senior management, approved by the shareholders' meeting [135]. Research and Development - The total R&D expenditure was 63,947,036.05 yuan, representing 6.94% of operating revenue [58]. - The company plans to enhance R&D capabilities by recruiting talented personnel and increasing R&D investment following the completion of its restructuring plan [61]. - The company is investing 50 million in R&D for new technologies aimed at enhancing user experience [128]. - Research and development expenses increased by 18%, totaling $150 million, focusing on innovative technologies [125]. Customer and Market Engagement - The company achieved a turnaround in 2021, reporting a net profit and positive net assets after three consecutive years of losses from 2018 to 2020, with the financial situation improving significantly [109]. - User data indicates a steady increase in active users, reflecting the effectiveness of recent marketing strategies [121]. - Customer satisfaction ratings improved to 90%, reflecting a 5% increase from the previous quarter [125]. - The company plans to implement new marketing strategies aimed at increasing brand awareness by 15% in the next fiscal year [125].

Financial Performance - The company's operating revenue for Q3 2021 was ¥225,843,779.03, a decrease of 49.19% compared to the same period last year[9] - The net profit attributable to shareholders was -¥35,425,071.45, showing an improvement of 75.82% year-on-year[9] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥36,446,611.25, with a year-on-year improvement of 73.18%[9] - Total operating revenue for the first three quarters of 2021 was ¥675,840,833.22, a decrease of 22% compared to ¥866,584,351.52 in the same period of 2020[34] - Net profit for the first three quarters of 2021 was -¥235,738,664.48, compared to -¥359,774,198.77 in the same period of 2020, indicating an improvement in losses[38] - The total comprehensive income attributable to the parent company was -¥233,240,463.59, compared to -¥331,957,963.11 in the same period of 2020, showing an improvement of approximately 29.8%[44] - The company reported a total comprehensive income of -¥232,886,651.98 for the period, compared to -¥332,170,428.84 in the previous year, reflecting a year-over-year improvement[44] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥79,829,637.62, a significant increase compared to -¥111,524,378.53 in the same period last year, reflecting a 171.58% change[9] - The company's net cash flow from operating activities for the first three quarters of 2021 was ¥79,829,637.62, a significant improvement compared to -¥111,524,378.53 in the same period of 2020[44] - The net cash flow from investing activities was ¥1,401,576.48, recovering from a negative cash flow of -¥5,550,926.35 in the same period last year[44] - The net cash flow from financing activities was ¥9,679,693.10, a turnaround from -¥46,353,427.15 in the previous year[46] - Cash outflows from operating activities totaled ¥790,824,604.21, a decrease from ¥941,830,855.20 in the same period last year[44] - Total cash and cash equivalents at the end of the period increased to ¥141,419,330.71 from ¥16,684,162.76 in the previous year, indicating a significant recovery[46] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,074,878,464.95, a decrease of 1.70% from the end of the previous year[12] - The total assets decreased to ¥2,074,878,464.95 from ¥2,110,789,269.72, reflecting a decline of approximately 1.7%[34] - Current liabilities increased to ¥3,406,302,571.11 from ¥3,199,051,797.45, representing an increase of about 6.5%[34] - The total liabilities rose to ¥3,470,887,256.23, up from ¥3,273,557,580.09, marking an increase of approximately 6%[34] - The company's total equity attributable to shareholders decreased to -¥1,396,006,722.63 from -¥1,162,766,259.04, indicating a worsening of equity position[34] - The company's equity attributable to shareholders was approximately -$1.16 billion, unchanged from the previous period[51] Shareholder Information - The company reported a total of 33,417 common shareholders at the end of the reporting period[21] - The top ten shareholders include Beijing Angzhan Technology Development Co., holding 30.04% of shares, and Dalian Tengxing Wangda Enterprise Management Co., holding 10.03%[21] - The company has not disclosed any financing activities involving its top shareholders during the reporting period[23] Restructuring and Legal Matters - The company is undergoing a pre-restructuring process approved by the Fuzhou Intermediate People's Court, which may help optimize its capital structure and mitigate bankruptcy risks[24] - The company has received an extension for its pre-restructuring period, now totaling 8 months, to address creditor claims and asset investigations[24] - The company faces significant uncertainty regarding the acceptance of its restructuring application, which could impact its operational continuity[24] Expenses and Impairments - The company reported a decrease in various impairments, sales expenses, and R&D expenses, contributing to the reduced losses[17] - Research and development expenses for the first three quarters of 2021 were ¥42,925,348.82, down from ¥70,961,142.85 in the same period of 2020, a reduction of about 39%[38] - The company reported a significant increase in interest expenses, which rose to ¥201,729,216.55 from ¥157,599,313.86, an increase of approximately 28%[38] Government Subsidies - The company recognized government subsidies amounting to ¥2,232,114.33 during the current period, contributing positively to the financial results[15] Current Assets - As of September 30, 2021, total current assets amounted to RMB 1,256,529,312.50, a slight increase from RMB 1,239,817,423.60 at the end of 2020, reflecting a growth of approximately 1.2%[28] - Cash and cash equivalents increased significantly to RMB 149,125,979.73 from RMB 64,367,002.05, representing a growth of approximately 131.7%[28] - Accounts receivable decreased to RMB 366,577,580.13 from RMB 478,383,735.36, indicating a decline of about 23.3%[28] - Inventory decreased to RMB 194,071,537.10 from RMB 207,920,868.57, showing a reduction of approximately 6.7%[28]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥449,997,054.19, representing a 6.62% increase compared to ¥422,067,388.30 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was -¥213,610,010.51, a slight increase in loss of 0.25% from -¥213,076,915.49 year-on-year[21]. - The net cash flow from operating activities improved significantly, with a net outflow of -¥39,226,730.77, a 65.63% reduction compared to -¥114,127,793.21 in the previous year[21]. - Total operating revenue for the reporting period was CNY 449.99 million, a 6.62% increase from CNY 422.07 million in the previous year[32]. - Operating costs increased by 8.93% to CNY 408.98 million from CNY 375.45 million year-on-year[32]. - Financial expenses rose by 86.66% to CNY 119.96 million compared to CNY 64.27 million in the previous year[34]. - Basic earnings per share for the first half of 2021 were -¥0.3432, a decrease of 0.23% from -¥0.3424 in the same period last year[24]. - The diluted earnings per share were also -¥0.3432, reflecting the same trend as basic earnings per share[24]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,103,283,576.18, down 4.34% from ¥2,198,674,841.27 at the end of the previous year[21]. - The net assets attributable to shareholders of the listed company decreased by 20.04%, amounting to -¥1,286,356,135.20 compared to -¥1,071,613,582.33 at the end of the previous year[21]. - Cash and cash equivalents at the end of the period amounted to ¥42,169,683.13, a decrease of 34.49% compared to the previous year[36]. - Other receivables increased by 38.13% to ¥156,162,233.69, representing 7.42% of total assets[36]. - Other current assets rose by 73.15% to ¥102,472,944.70, attributed to an increase in VAT credits[36]. - Total non-current liabilities include lease liabilities of ¥3,022,711.54, accounting for 0.14% of total liabilities[38]. - Total liabilities increased to RMB 3,389,456,058.06 from RMB 3,270,290,474.93, representing an increase of about 3.63%[193]. Business Segments - The company's main business segments include mobile smart terminal business, battery power supply for mobile smart terminals, and IoT perimeter security business[27]. - Revenue for the mobile smart terminal business was approximately CNY 399 million, a 5.58% increase from CNY 378 million in the same period last year[30]. - Revenue for the battery power supply business was approximately CNY 344 million, a 34.75% increase from CNY 255 million year-on-year[30]. - Revenue for the IoT perimeter security business was approximately CNY 45.96 million, an 11.14% increase from CNY 41.35 million year-on-year[30]. Restructuring and Financial Strategy - The company aims to restructure and optimize its asset-liability structure to mitigate risks of delisting and bankruptcy[31]. - The company is currently undergoing a pre-restructuring process initiated by creditors to address its financial difficulties[31]. - The restructuring aims to optimize the company's capital structure and mitigate risks of delisting and bankruptcy, although the outcome remains uncertain[59]. - The company has committed to not transferring its 49.703% stake in Shenzhen Nanshan Fund to any third party without written consent from Western Trust[71]. Legal and Compliance Issues - The company is involved in multiple significant lawsuits, including a financial loan dispute with China Construction Bank involving a claim of RMB 66.55 million[84]. - The company has ongoing litigation with Bohai Bank for a loan dispute amounting to RMB 60 million, with a judgment already rendered requiring the company to pay principal and interest[84]. - Another ongoing case involves China Everbright Bank, with a claim of RMB 10.9645 million, which is still under review[84]. - The company has engaged a temporary manager from Shanghai Fangda Law Firm to oversee the pre-restructuring process[81]. - The company is actively communicating with relevant parties to clarify repayment plans and mitigate the impact of outstanding sales proceeds[80]. Shareholder and Capital Structure - The total number of common shareholders at the end of the reporting period was 34,062[175]. - The largest shareholder, Beijing Angzhan Technology Development Co., Ltd., held 228,466,407 shares, representing 36.71% of the total shares, with 228,466,300 shares pledged[176]. - The second-largest shareholder, Dalian Tengxing Wangda Enterprise Management Co., Ltd., held 62,416,313 shares, accounting for 10.03% of the total shares, with all shares pledged[178]. - The company has not reported any significant changes in its share capital structure during the reporting period[174]. Employee and Management Changes - The company experienced changes in senior management, with Huang Fengying resigning as Senior Vice President and Director, and Zhou Le being elected as Vice Chairman[64]. - The company plans to enhance its employee reward mechanisms as part of its restructuring strategy to stabilize its workforce[58]. - The company has not implemented any employee stock ownership plans or other incentive measures during the reporting period[67]. Risks and Challenges - The company is facing liquidity risks due to tight cash flow, exacerbated by long payment terms from downstream customers and cash settlement requirements from suppliers[57]. - The company has identified risks related to the loss of core personnel, emphasizing the need for improved employee incentives to retain talent[58]. - The company faces significant uncertainty regarding the acceptance of its restructuring application, which could lead to bankruptcy if unsuccessful[81].

2021 年 5 月 10 日 证券代码：600734 证券简称：*ST 实达 公告编号：第 2021－043 号 福建实达集团股份有限公司 关于参加 2021 年福建上市公司投资者集体接待日活动的公告 | --- | |----------------------------------------------------------------------------| | | | 本公司及董事会全体成员保证公告内容的真实、准确和完整，对公司的虚假记载、 | | 误导性陈述或者重大遗漏负连带责任。 | | 为进一步加强与投资者的互动交流，使广大投资者能更深入全面地了解公司，本 | | 公司将参加由福建证监局与福建省上市公司协会、深圳市全景网络有限公司举办的 | | " 2021 年度福建上市公司投资者网上集体接待日活动"。现将有关事项公告如下： | | 本次投资者网上集体接待日活动将通过深圳市全景网络有限公司提供的网上平 | | 台采取网络远程的方式进行，投资者可以登录"全景网络投资者关系互动平台" | | （ http://ir.p5w.net ）参与本次投资者网上接待日活动，网上互动交流时间为 | | ...

Financial Performance - The company's operating revenue for 2020 was ¥1,151,473,160.46, a decrease of 26.04% compared to ¥1,556,985,105.98 in 2019[20]. - The net profit attributable to shareholders for 2020 was -¥591,138,752.23, an improvement of 80.60% from -¥3,047,028,370.76 in 2019[23]. - The net cash flow from operating activities was -¥67,403,327.04, showing a 65.88% improvement compared to -¥197,522,783.38 in 2019[23]. - The total assets at the end of 2020 were ¥2,198,674,841.27, a decrease of 16.02% from ¥2,618,173,826.87 at the end of 2019[23]. - The net assets attributable to shareholders were -¥1,071,613,582.33 at the end of 2020, a decline of 128.85% from -¥468,255,418.78 at the end of 2019[23]. - The company reported a negative distributable profit of -¥2,288,249,645.06 for 2020, resulting in no profit distribution or capital reserve transfer to share capital[6]. - The company reported a total revenue of approximately CNY 1.15 billion in 2020, a decrease of 26.04% compared to CNY 1.56 billion in 2019[34]. - The net profit attributable to shareholders was approximately -CNY 59.11 million, improving from -CNY 304.70 million in the previous year, a reduction of about 80.66%[34]. - The company reported a total non-operating loss of approximately -CNY 36.85 million in 2020, compared to a gain of CNY 11.19 million in 2019[29]. - The company’s total operating costs decreased by 32.56% to approximately CNY 1.05 billion from CNY 1.55 billion in 2019[37]. - The company’s financial expenses increased by 50.96% to approximately CNY 206.80 million from CNY 136.99 million in 2019[37]. - The company reported a total revenue of 1.57 billion RMB from the sale of inventory stored in Hong Kong and India, with a sales income of 0.23 billion USD (equivalent to 1.57 billion RMB) recognized[102]. Operational Challenges - The company has indicated potential risks in its operations but reported no significant risk events affecting production and operations during the reporting period[7]. - The company aims to optimize its asset-liability structure to eliminate debt and operational difficulties, thereby mitigating risks of delisting and bankruptcy[78]. - The company faces liquidity risks due to tight cash flow, exacerbated by long payment terms from downstream clients and cash settlement requirements from upstream suppliers[80]. - The company is at risk of losing core personnel due to intense competition for talent in its industry, which could negatively impact its operational capabilities[83]. - The company has acknowledged the significant uncertainties related to its ability to continue as a going concern due to ongoing litigation and financial instability[105]. Legal Issues - The company is involved in a lawsuit with China Construction Bank regarding a financial loan contract dispute, with the claimed amount totaling RMB 66,550,016.97, including RMB 49,999,000 in factoring prepayment[117]. - In a separate case, the company was ordered to pay RMB 6,000,000 in principal and related interest and penalties to Bohai Bank due to a financial loan contract dispute, with the judgment issued on November 6, 2020[118]. - The company is also facing a lawsuit from China Everbright Bank for RMB 10,964,500 in principal related to a financial loan contract dispute, which is still under review[119]. - The company has a pending arbitration case with Shanghai Bank involving a financial loan contract dispute, with the claimed amount of RMB 3,183,640, and a judgment was made in March 2021 requiring repayment of principal and interest[125]. - The company has been involved in multiple legal disputes, including a construction contract dispute with Kai Ji Dingshi Development Co., with a claimed amount of RMB 15,640,000[123]. - The company has faced various legal challenges, including claims for unpaid debts and warranty fees, which may impact its financial position[126]. - The ongoing litigation and arbitration cases may affect the company's future financial performance and operational strategies[125]. Restructuring Efforts - The company is currently in a pre-restructuring phase, with creditors having filed for restructuring in February 2021[79]. - The company has engaged in active communication with relevant parties, including the court and creditors, to expedite the restructuring process and mitigate bankruptcy risks[84]. - The restructuring application's acceptance by the court remains uncertain, posing a significant risk of bankruptcy if the restructuring fails[84]. - The company has not proposed any cash dividend distribution in the last three years due to negative profits, ensuring compliance with regulations[89]. - The company’s profit distribution policy has been transparent and compliant with shareholder resolutions, protecting minority shareholders' rights[86]. Subsidiary Developments - The company established five new subsidiaries during the reporting period, with a total investment of ¥24 million in registered capital[61]. - The company established a wholly-owned subsidiary, Beijing Hanzhu Technology Co., Ltd., with a registered capital of RMB 100 million to enhance its strategic layout and business development[62]. - The company set up another wholly-owned subsidiary, Beijing Zhuhuang Technology Co., Ltd., also with a registered capital of RMB 100 million, focusing on technology development and consulting services[62]. - A wholly-owned subsidiary, Zhengzhou Zhongke Rongtong IoT Technology Information Co., Ltd., was established with a registered capital of RMB 10 million, aimed at software development and information technology services[62]. - The company established Zhengzhou Aviation Port Zhongke Xinggang Technology Co., Ltd. with a registered capital of RMB 10 million, focusing on software and technology services[62]. - Shenzhen Shicheng Trade Co., Ltd. was set up with a registered capital of RMB 20 million, expanding the company's business scope into electronic products and real estate services[65]. Market Outlook - The physical security market is projected to reach $171 billion by 2027, with a compound annual growth rate of 6.50%, driven by increasing security needs globally[56]. - The domestic market for 5G mobile phones reached 20.136 million units shipped by November 2020, nearly tripling since the beginning of the year[54]. - The company plans to expand into sectors such as smart wearables, smart cities, and big data, focusing on the integration of mobile internet and IoT technologies[78]. - The company is focusing on the development of new product forms in the mobile smart terminal sector, including wearable devices and smart home products, which are expected to have a broad market outlook[77]. Audit and Compliance - The audit report from Zhongxing Caiguanghua CPA indicated a reserved opinion, which the company has addressed in detail[5]. - The audit firm issued a qualified opinion due to limitations in obtaining sufficient audit evidence regarding the inventory stored overseas, which may impact the financial statements significantly but not broadly[102]. - The audit fee for the new auditor, Zhongxing Caiguanghua, is RMB 210,000, compared to RMB 120,000 for the previous auditor[111]. - The company has faced regulatory scrutiny due to delays in disclosing significant overdue guarantees and fundraising account issues, resulting in warnings and criticisms from the Shanghai Stock Exchange[200].

Financial Performance - Operating revenue for the period was CNY 212,035,400.11, an increase of 67.77% year-on-year[18]. - Net profit attributable to shareholders of the listed company was CNY -72,920,739.23, a decrease of 15.89% compared to the same period last year[18]. - Basic earnings per share were CNY -0.1172, a decrease of 15.92% compared to the same period last year[21]. - Total operating revenue for Q1 2021 was ¥212,035,400.11, a 67.7% increase from ¥126,381,655.10 in Q1 2020[49]. - Net loss for Q1 2021 was ¥72,920,756.55, compared to a net loss of ¥63,111,250.11 in Q1 2020, indicating a worsening of 15.5%[49]. - The company reported a total comprehensive loss of ¥72,138,628.33 for Q1 2021, compared to a loss of ¥81,079,679.99 in Q1 2020, an improvement of 10.4%[52]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,178,928,047.09, a decrease of 0.90% compared to the end of the previous year[18]. - Non-current assets decreased from ¥958,857,417.67 to ¥921,848,675.45, a decline of approximately 3.86%[38]. - Current liabilities increased from ¥3,195,784,692.29 to ¥3,251,488,206.60, an increase of approximately 1.75%[38]. - Total liabilities increased from ¥3,270,290,474.93 to ¥3,322,682,309.08, an increase of approximately 1.60%[40]. - The company's total equity attributable to shareholders decreased from ¥-1,071,613,582.33 to ¥-1,143,752,193.34, a decline of approximately 6.7%[40]. - Total liabilities amounted to approximately 3.27 billion, with a slight increase of 0.3% compared to the previous period[70]. Cash Flow - Net cash flow from operating activities was CNY -31,708,422.44, an improvement of 67.01% compared to the previous year[18]. - Cash flow from operating activities in Q1 2021 was -¥31,708,422.44, an improvement from -¥96,115,518.71 in Q1 2020[60]. - Cash inflow from operating activities totaled ¥4,958,700.24 in Q1 2021, compared to ¥1,439,330.66 in Q1 2020, indicating a year-over-year increase of approximately 245%[63]. - The net cash flow from financing activities in Q1 2021 was -¥475,378.33, a decline from a net inflow of ¥2,805,768.03 in Q1 2020[65]. Shareholder Information - The total number of shareholders at the end of the reporting period was 35,546[22]. - The largest shareholder, Beijing Angzhan Technology Development Co., Ltd., held 36.71% of the shares[22]. Research and Development - Research and development expenses decreased by 37.29% to ¥13,019,011.20 from ¥20,760,388.73, indicating reduced investment in R&D[27]. - Research and development expenses decreased to ¥13,019,011.20 in Q1 2021 from ¥20,760,388.73 in Q1 2020, a reduction of 37.2%[49]. Financial Challenges and Restructuring - The company is undergoing a pre-restructuring process initiated by creditors, which may help optimize its capital structure and mitigate bankruptcy risks[30]. - The company is actively communicating with relevant parties to expedite the restructuring process and mitigate risks associated with potential bankruptcy[30]. Other Financial Metrics - The company reported a non-operating income of CNY 8,819,385.31 for the period[21]. - Financial expenses surged by 383.80% to ¥59,108,336.76 from ¥12,217,640.46, primarily due to increased borrowing costs[27]. - The company reported a significant increase in credit impairment losses, totaling ¥393,577.87 in Q1 2021, compared to a gain of -¥31.46 in Q1 2020[56].

Financial Performance - Operating revenue for the first nine months was CNY 866,584,351.52, down 58.15% from CNY 2,070,584,341.94 in the same period last year[17]. - Net profit attributable to shareholders of the listed company was CNY -359,561,733.04, a decline of 28.92% compared to CNY -278,894,068.47 in the previous year[17]. - Basic earnings per share were CNY -0.5777, a decrease of 29.09% compared to CNY -0.4475 in the previous year[17]. - The company reported a net loss of CNY -3,531,656,641.69, compared to a loss of CNY -3,172,094,908.65 in the previous period[40]. - The net profit for Q3 2020 was a loss of ¥146,516,193.43, compared to a loss of ¥100,326,876.85 in Q3 2019, reflecting a worsening of approximately 46%[52]. - The net profit for Q3 2020 was a loss of CNY 17,209,082.14, compared to a loss of CNY 12,119,377.00 in Q3 2019, indicating a worsening financial performance[60]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,324,148,251.85, a decrease of 11.23% compared to the end of the previous year[17]. - Non-current assets totaled CNY 990,519,926.44, a decrease of 3.47% from CNY 1,026,249,267.21[38]. - Total liabilities reached CNY 3,124,663,205.78, an increase from CNY 3,086,518,351.96[40]. - Current liabilities increased to CNY 3,043,311,751.46, up 1.08% from CNY 3,009,071,180.72[38]. - Total current assets decreased to ¥1,333,628,325.41 from ¥1,591,924,559.66, indicating a reduction in overall liquidity[34]. - The company reported a total equity deficit of ¥468,344,525.09, with retained earnings showing a negative balance of ¥3,172,094,908.65[81]. Cash Flow - The net cash flow from operating activities for the first nine months improved to CNY -111,524,378.53, a 61.08% increase from CNY -286,555,698.55 year-on-year[17]. - Operating cash inflow totaled CNY 830,306,476.67, a decrease of 72% compared to CNY 2,979,590,209.66 in the previous period[68]. - Operating cash outflow amounted to CNY 941,830,855.20, down from CNY 3,266,145,908.21, resulting in a net cash flow from operating activities of CNY -111,524,378.53[68]. - The overall cash and cash equivalents decreased by CNY 163,417,200.82, reflecting liquidity pressures[70]. Shareholder Information - The total number of shareholders at the end of the reporting period was 42,432[22]. - The largest shareholder, Beijing Angzhan Technology Development Co., Ltd., held 36.71% of the shares, amounting to 228,466,407 shares[22]. - The total equity attributable to shareholders was CNY -800,213,381.89, worsening from CNY -468,255,418.78[40]. Operational Insights - The company has not disclosed any new product developments or market expansion strategies in this report[17]. - The company plans to focus on improving its financial performance and exploring new market opportunities in the upcoming quarters[60]. - The company has implemented new revenue recognition standards effective January 1, 2020, which may impact future financial reporting[84]. Expenses - Operating costs decreased by 60.62% to ¥783,527,156.46 from ¥1,989,908,097.61, corresponding to the decline in revenue[26]. - R&D expenses decreased by 25.37% to ¥70,961,142.85 from ¥95,086,610.98, indicating reduced investment in research and development[26]. - Financial expenses increased by 152.55% to ¥172,134,559.69 from ¥68,158,575.81, primarily due to increased interest on short-term loans[26].

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 422,067,388.30, a decrease of 76.86% compared to CNY 1,823,691,816.54 in the same period last year[22]. - The net profit attributable to shareholders of the listed company was a loss of CNY 213,076,915.49, worsening by 19.33% from a loss of CNY 178,567,191.62 in the previous year[22]. - The net cash flow from operating activities was a negative CNY 114,127,793.21, an improvement of 12.94% compared to a negative CNY 131,083,478.97 in the same period last year[22]. - The total assets at the end of the reporting period were CNY 2,366,435,462.35, down 9.62% from CNY 2,618,173,826.87 at the end of the previous year[22]. - The net assets attributable to shareholders of the listed company decreased to CNY -698,260,373.93, a decline of 49.12% from CNY -468,255,418.78 at the end of the previous year[22]. - Basic earnings per share for the first half of 2020 were CNY -0.3424, a decrease of 19.55% from CNY -0.2864 in the same period last year[25]. - The company reported a net profit excluding non-recurring gains and losses of CNY -198,764,193.26, showing a 4.51% improvement from CNY -208,141,340.28 in the previous year[22]. - In the first half of 2020, the company achieved revenue of approximately RMB 378 million, a decrease of 78.82% compared to RMB 1.784 billion in the same period last year[41]. - The net profit for the same period was approximately -RMB 159.25 million, an increase of 7.97% compared to -RMB 147.50 million in the previous year[41]. Business Challenges - The decline in revenue was primarily due to the impact of the COVID-19 pandemic, funding issues, and industry factors affecting subsidiaries[25]. - The mobile intelligent terminal business faced significant challenges due to liquidity issues, COVID-19, and intensified US-China trade tensions, leading to underutilization of production capacity[40]. - The overall core competitiveness of the company has significantly declined due to financial pressures and liquidity issues[38]. - The company anticipates continued net profit losses for the first nine months of 2020 due to ongoing liquidity issues exacerbated by the COVID-19 pandemic and trade tensions[79]. - The company faces liquidity risks due to tightened funding from financial institutions, impacting operational activities and customer order maintenance[80]. Strategic Focus - The company is focusing on product iteration and cost reduction in the industry IoT smart terminal segment, while also planning new product developments in smart warehousing and retail[40]. - The company is increasing R&D investment in 5G technology to maintain competitiveness in the mobile communication and IoT markets[81]. - The company is adapting its sales model and increasing R&D investment to enhance its core technology and market competitiveness[83]. - The company plans to focus on debt restructuring and divesting non-performing assets in the second half of 2020 to improve liquidity[46]. - The company aims to capture the supply opportunities for Huawei's dual-band gateway and WiFi6 power adapters in the second half of 2020[49]. Legal Issues - The company is involved in significant litigation, including a case with China Construction Bank involving a claim of RMB 66.55 million, which was dismissed by the court in August 2019, but the plaintiff has appealed[104]. - The company is facing a lawsuit from Bohai Bank for RMB 60 million related to a financial loan contract, with no progress reported as of now[106]. - Another lawsuit involves China Everbright Bank, claiming RMB 109.645 million, with no updates on the case as of August 2020[107]. - The company has been ordered by the court to repay principal and interest in a case involving Shenzhen Sanhui Technology Co., with a judgment amount of RMB 25 million, and the company has appealed this decision[112]. - Shenzhen Xingfei has faced multiple lawsuits related to sales contract disputes, with total claims amounting to over 2 billion yuan across various cases[137]. Subsidiary Performance - In the first half of 2020, Ruide Electronics achieved revenue of approximately 255 million RMB, a decrease of 29.95% compared to 364 million RMB in the same period last year[44]. - The net profit for the same period was approximately -6.65 million RMB, an improvement of 459,000 RMB from -7.11 million RMB year-on-year[44]. - Zhongke Rongtong's revenue in the first half of 2020 was approximately 41.35 million RMB, a slight increase from 32.50 million RMB in the first half of 2019[45]. - Zhongke Rongtong's net profit for the first half of 2020 was approximately -14.89 million RMB, a decline compared to -9.86 million RMB in the same period last year[45]. Investments and Assets - The company approved a total of CNY 200 million for external equity investments during the reporting period[63]. - The establishment of wholly-owned subsidiaries Beijing Hanzhu Technology Co., Ltd. and Beijing Zhuhuang Technology Co., Ltd. with registered capital of CNY 100 million each[64]. - The company has completed the investment in the new generation mobile terminal product R&D project with a total investment of CNY 5,000,000[68]. - The total assets of Shenzhen Xingfei Technology Co., Ltd. (consolidated) were CNY 1,543,228,652.95, with a net loss of CNY 159,249,511.80[74]. - The total assets of Shenzhen Ruide Electronics Co., Ltd. (consolidated) were CNY 579,137,765.52, with a net loss of CNY 6,654,875.75[74]. Related Party Transactions - The company has a total of 119.15 million RMB in related party debts, with a significant portion being transactions with subsidiaries[187]. - The company’s total related party transactions amounted to 530.97 million RMB, with pricing based on market principles[182]. - The company’s total balance of related party debts at the beginning of the period was 4.8 billion RMB, with no new funding provided during the reporting period[186]. - The company’s rental income is determined based on market conditions, reflecting a strategic approach to asset utilization[189]. Guarantees and Liabilities - Total guarantee amount (including subsidiaries) is RMB 858,707,373.45, which accounts for a significant portion of the company's net assets[193]. - The total amount of guarantees exceeding 50% of net assets is RMB 825,574,032.45[195]. - The total amount of overdue guarantees is RMB 33,000,000.00, with guarantees still not fulfilled[193]. - The company has been ordered to repay amounts in several cases, with a notable ruling in June 2020 requiring repayment of 409.80 million CNY[145].

Financial Performance - Operating revenue for the first quarter was CNY 126,381,655.10, a decline of 65.41% year-on-year[12] - Net profit attributable to shareholders of the listed company was CNY -62,920,986.68, representing a decrease of 78.57% compared to the same period last year[12] - Basic earnings per share were CNY -0.1011, down 78.94% from CNY -0.0565 in the previous year[12] - The company reported a net loss of CNY 10,030,784.83 for the current quarter, compared to a net loss of CNY 5,470,917.95 in the same quarter last year, indicating an increase in losses of approximately 83.5%[50] - Operating profit for the current quarter was CNY -10,030,120.06, which is a decline from CNY -5,470,917.95 year-over-year[50] - Net loss for Q1 2020 was ¥63,111,250.11, compared to a net loss of ¥35,236,606.02 in Q1 2019, representing an increase in loss of 79.3%[46] - The company reported a total comprehensive loss of ¥81,079,679.99 for Q1 2020, compared to a loss of ¥35,049,574.31 in Q1 2019[46] Cash Flow - Net cash flow from operating activities was CNY -96,115,518.71, a decline of 104.71% year-on-year[12] - Cash flow from operating activities showed a net outflow of CNY -96,115,518.71, worsening from a net outflow of CNY -46,951,175.31 in the previous year[52] - Total cash inflow from operating activities was CNY 292,315,300.02, down significantly from CNY 1,082,353,783.82 in the same quarter last year[52] - The net cash flow from operating activities was -5,460,935.64, compared to 7,358,569.45 in the previous period[57] - The net cash flow from investing activities was -29,305.00, indicating a decrease in investment cash flow[57] - The cash inflow from financing activities was 3,849,934.84, while the cash outflow was 1,044,166.81, resulting in a net cash flow of 2,805,768.03[57] Assets and Liabilities - Total assets decreased by 6.65% to CNY 2,443,979,058.06 compared to the end of the previous year[12] - Total liabilities decreased from ¥3,086,518,351.96 to ¥2,993,403,263.14, indicating a decline of approximately 3%[34] - Current liabilities decreased from ¥3,009,071,180.72 to ¥2,917,643,797.28, a reduction of about 3.7%[32] - The total equity attributable to shareholders decreased from -¥468,255,418.78 to -¥549,144,835.34, reflecting a decline of approximately 17.3%[34] - The company reported total assets of ¥3,416,380,101.28, with current assets totaling ¥1,155,660,698.25[67] - The company has a total of ¥31,188,128.60 in other non-current assets, contributing to its asset base[67] Shareholder Information - The company reported a total of 58,377 shareholders at the end of the reporting period[15] - The largest shareholder, Beijing Angzhan Technology Development Co., Ltd., held 36.71% of the shares[15] Government Support and Other Income - The company received government subsidies amounting to CNY 3,162,486.83 during the quarter[14] - The company reported a total of CNY 5,825,639.42 in other income and expenses during the quarter[14] Research and Development - Research and development expenses decreased by 41.52% to ¥20,760,388.73 from ¥35,499,016.50, indicating reduced investment in R&D[20] - Research and development expenses for Q1 2020 were ¥20,760,388.73, down 41.7% from ¥35,499,016.50 in Q1 2019[44] Financing Activities - The company raised CNY 5,990,000.00 from financing activities, a decrease from CNY 247,553,969.97 in the same quarter last year, indicating reduced financing activity[55] - The company’s cash flow from financing activities included 99,000,000.00 in borrowed funds, indicating reliance on debt financing[57] Market Conditions and Future Outlook - The company anticipates continued losses in the first half of 2020, primarily due to reduced orders and revenue from its subsidiary Shenzhen Xingfei[24] - The company is pursuing a private placement of shares to improve liquidity, which may require adjustments due to market conditions[24] - The company plans to focus on cost reduction strategies and potential market expansion in future quarters[44]

Financial Performance - In 2019, the company's operating revenue was approximately ¥1.56 billion, a decrease of 76.97% compared to ¥6.76 billion in 2018[18]. - The net profit attributable to shareholders of the listed company was approximately -¥3.05 billion, representing a decline of 1,040.54% from -¥267 million in 2018[18]. - The net cash flow from operating activities was approximately -¥197 million, an improvement of 19.74% compared to -¥246 million in 2018[18]. - The company reported a negative distributable profit of approximately -¥373 million for the year, resulting in no profit distribution for 2019[4]. - The company faced a significant decline in revenue and profit, indicating potential challenges in market performance and operational efficiency[4]. - The net assets attributable to shareholders of the listed company decreased to -468.26 million RMB, a decline of 117.94% compared to the previous year[20]. - Total assets decreased by 64.31% to 2.62 billion RMB from 8.23 billion RMB in the previous year[20]. - Basic earnings per share were -4.89 RMB, a decrease of 1,041.33% compared to -0.43 RMB in the previous year[20]. - The company reported a net loss of 2.77 billion RMB in Q4 2019, with a significant drop in operating income to -513.60 million RMB[21]. - The total amount of non-recurring gains and losses for 2019 was 11.19 million RMB, a significant decrease from 63.86 million RMB in 2018[26]. - The company reported total revenue of CNY 155,698.51 million in 2019, a significant decrease of 76.97% compared to CNY 675,956.58 million in 2018[48]. - The net profit attributable to ordinary shareholders was CNY -304,702.84 million, worsening from CNY -26,715.57 million in the previous year[47]. - The company incurred significant impairment losses, including CNY 102,826.16 million for goodwill and CNY 137,494.39 million for inventory[47]. - The company reported a significant loss with undistributed profits at -3,172,094,908.65, a 2,436.33% increase in losses compared to -125,066,537.89 in the previous period[65]. Operational Challenges - The company faced severe liquidity issues due to dual pressures from financial institutions and debt repayments, impacting overall operational performance[38]. - Shenzhen Xingfei's revenue dropped by 79.45% to approximately CNY 1,339 million, with a net loss of CNY -216,890.86 million, compared to a profit of CNY 20,043.92 million in the previous year[42]. - The battery power supply business, operated by Ruide Electronics, saw a revenue decline of 23.42% to CNY 692 million, with a net loss of CNY -32,138.3 million, down from a profit of CNY 14,098 million in the previous year[43]. - The company reported a significant decline in production and sales volumes for key products, with smart phone sales down 86.83% year-over-year[53]. - The company has faced significant uncertainties regarding its ability to continue as a going concern due to consecutive annual losses and negative equity[155]. - The company has not achieved its original profit forecast for the reporting period, and the performance commitment completion status is not applicable[152]. Strategic Initiatives - The company plans to focus on improving operational strategies and addressing the challenges faced in the previous year[4]. - The company plans to expand its market presence by developing new products and enhancing its technology offerings in the IoT sector[44]. - The company is focusing on the development of lithium batteries for consumer electronics, which is anticipated to drive growth in the power supply market[72]. - The company is targeting growth in the IoT sector, particularly in smart warehousing, retail e-commerce, and public utilities, while also exploring overseas logistics markets[99]. - The company intends to maintain existing OEM and ODM partnerships while developing new communication terminal clients and expanding local manufacturing demands in Zhengzhou[103]. - The company is committed to integrating mobile internet and IoT strategies, focusing on smart hardware and software development, as well as big data operations[95]. - The company plans to enhance its core competitiveness in the security sector by developing a comprehensive defense system that includes intrusion detection and drone defense products[100]. - The company aims to achieve profitability and remove risk warnings by implementing cost reduction and efficiency improvement plans[101]. Legal and Compliance Issues - The company faced a lawsuit from China Construction Bank regarding a financial loan contract dispute, with the claimed amount totaling RMB 66,550,016.97[166]. - The company successfully repaid the principal and interest of the "17 Shida Bonds" on time, leading to the withdrawal of a lawsuit by China Trust in December 2019[169]. - The company is currently involved in multiple lawsuits, including a construction contract dispute with Kai Ji Ding Shi Development Co., with a claimed amount of RMB 15.64 million[176]. - The company has not recognized any contingent liabilities related to the ongoing lawsuits[176]. - Shenzhen Xingfei has been involved in multiple lawsuits, with a total claim amount of approximately 2,075.84 million for a financial loan dispute, which has been ruled in favor of the plaintiff[196]. - The company has settled several disputes, including a contract dispute with Kunshan Jieshun Precision Components Co., amounting to 18.73 million, which has been resolved[190]. Research and Development - Research and development expenses amounted to CNY 133,058,192.36, representing 8.55% of total revenue[60]. - The number of R&D personnel was 331, accounting for 16.15% of the total workforce[60]. - The company has developed multiple innovative products, including IoT perimeter security systems and smart monitoring devices, enhancing its technological capabilities[33]. - The company established a joint laboratory for IoT research and application with several institutions, enhancing its R&D capabilities[44]. - The company is increasing R&D investment in 5G technology to maintain competitiveness in the mobile communication terminal market[109]. Financial Management - The company has not proposed any capital reserve fund transfer plans in the last three years due to negative distributable profits[123]. - The company has pledged 70.00% equity of Shenzhen Xingfei and 51.00% equity of Zhongke Rongtong as collateral for the "17 Shida Bond" repayment[148]. - The company completed the repayment of the "17 Shida Bond" on time in November 2019, fulfilling its commitment[148]. - The company aims to enhance its financial situation by seeking significant financing from its controlling shareholder and related parties to alleviate liquidity issues[101]. - The company has committed to compensating for any losses incurred by Shenzhen Xingfei due to violations of the non-competition agreement[145].