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].

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 -63,220,084.90, representing a decrease of 79.42% compared to the same period last year[12] - Basic earnings per share were CNY -0.1016, down 79.82% from CNY -0.0565 in the previous year[12] - The company's gross profit margin for Q1 2020 was approximately -50.7%, compared to -27.5% in Q1 2019[44] - Net profit for Q1 2020 was -¥63,410,348.33, compared to -¥35,236,606.02 in Q1 2019, indicating a worsening loss[46] - The total comprehensive income for Q1 2020 was -¥81,393,485.09, compared to -¥35,049,574.31 in Q1 2019[46] Cash Flow - Net cash flow from operating activities was CNY -96,130,045.73, a decline of 104.74% year-on-year[12] - The net cash flow from operating activities was negative at -¥96,130,045.73, a decline of 104.74% compared to -¥46,951,175.31[22] - Cash flow from operating activities for Q1 2020 was -96,130,045.73 million RMB, worsening from -46,951,175.31 million RMB in Q1 2019[54] - The company's total cash outflow from operating activities was 391,151,694.05 million RMB in Q1 2020, compared to 1,129,304,959.13 million RMB in Q1 2019[54] - The net increase in cash and cash equivalents for Q1 2020 was -2,698,999.63 RMB, compared to -398,359.87 RMB in Q1 2019[59] Assets and Liabilities - Total assets decreased by 8.79% to CNY 2,391,613,773.15 compared to the end of the previous year[12] - The total current assets decreased to ¥1,368,611,239.42 from ¥1,595,711,083.92, indicating a decline in overall asset liquidity[29] - The total liabilities decreased from ¥3,094,520,109.66 to ¥2,945,371,963.03, reflecting a decline of around 4.8%[34] - Current liabilities decreased from ¥3,009,610,163.28 to ¥2,862,145,378.81, a decrease of approximately 4.9%[32] - The company's total equity attributable to shareholders decreased from -¥472,275,598.48 to -¥553,478,820.14, reflecting a decline of about 16.5%[34] Shareholder Information - The total number of shareholders at the end of the reporting period was 58,377[16] - The largest shareholder, Beijing Angzhan Technology Development Co., Ltd., held 36.71% of the shares, totaling 228,466,407 shares[16] Government Support and Other Income - The company reported a government subsidy of CNY 3,162,486.83 related to normal business operations[15] - The company experienced a net loss from non-operating income and expenses totaling CNY -11,305.56[15] 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 in Q1 2020 were ¥20,760,388.73, a decrease of 41.7% from ¥35,499,016.50 in Q1 2019[44] Financial Position - The company's cash and cash equivalents decreased by 64.67% to ¥76,194,186.60 from ¥215,664,551.91 due to loan repayments[20] - The company's intangible assets decreased from ¥46,582,499.86 to ¥42,112,651.56, a decline of about 9.8%[32] - Deferred income tax assets increased from ¥65,327,556.56 to ¥78,332,521.41, an increase of approximately 19.9%[32]

Financial Performance - Operating revenue for the period was ¥2,070,584,341.94, representing a decline of 48.50% year-on-year[18]. - Net profit attributable to shareholders of the listed company was -¥278,894,068.47, a decrease of 324.07% compared to the same period last year[18]. - Basic earnings per share were -¥0.4475, a decrease of 324.20% year-on-year[21]. - The company reported a net loss of CNY 403,960,606.36, worsening from a loss of CNY 125,066,537.89 in the previous period[48]. - Total revenue for Q3 2019 was ¥246,892,525.40, a significant decrease from ¥1,245,456,359.19 in Q3 2018[58]. - Net profit for Q3 2019 was a loss of ¥100,326,876.85, contrasting with a profit of ¥25,874,240.03 in Q3 2018[61]. - The company reported a significant increase in other income of ¥14,175,318.21 in Q3 2019 compared to ¥825,652.82 in Q3 2018[61]. - The total comprehensive income for Q3 2019 was a loss of CNY 12,119,377.00, compared to a loss of CNY 25,288,903.10 in the same period last year[70]. Assets and Liabilities - Total assets at the end of the reporting period were ¥5,536,315,188.39, a decrease of 24.54% compared to the end of the previous year[18]. - Current assets totaled CNY 3,496,918,967.83, down from CNY 5,327,209,547.83, indicating a reduction of about 34.4%[46]. - Total liabilities were CNY 3,217,503,229.88, compared to CNY 4,726,395,760.56, showing a reduction of approximately 31.9%[48]. - The company's cash and cash equivalents decreased by 64.56% to ¥106,086,111.31 from ¥299,366,263.53 due to repayment of bonds and interest[31]. - The total assets decreased from ¥3,588,158,763.27 to ¥3,404,680,009.05 year-over-year[57]. - The total liabilities decreased from ¥1,057,658,561.84 to ¥913,627,581.93 year-over-year[57]. - The company’s total equity decreased to CNY 2,318,811,958.51 from CNY 2,610,191,478.94, a decline of approximately 11.2%[48]. Cash Flow - The net cash flow from operating activities was -¥286,555,698.55, an improvement of 29.65% compared to the previous year[18]. - Cash outflow from operating activities totaled CNY 3,266,145,908.21, a decrease of 37% compared to CNY 5,169,344,632.23 in 2018[74]. - Cash inflow from financing activities reached CNY 1,075,758,033.33, up from CNY 454,000,000.00 in 2018[76]. - Net cash flow from financing activities was positive CNY 228,504,374.67, compared to negative CNY 333,661,945.56 in the same period of 2018[76]. Shareholder Information - The total number of shareholders at the end of the reporting period was 63,076[22]. - The largest shareholder, Beijing Angzhan Technology Development Co., Ltd., held 36.71% of the shares, with 228,466,407 shares pledged[22]. Government Subsidies and Other Income - The company received government subsidies amounting to ¥18,474,089.79 during the reporting period, which is closely related to its normal business operations[21]. - The company faced a 76.21% decline in other income, which fell to ¥19,274,519.07 from ¥81,005,980.96, due to the absence of prior year subsidies[34]. Future Outlook - The company expects a continued net loss for 2019, primarily due to reduced orders and revenue from the subsidiary Shenzhen Xingfei, influenced by the macroeconomic environment[39]. - The company plans to issue shares to improve liquidity and reduce debt financing, which is expected to enhance financial status and lower the debt-to-asset ratio[37].

Financial Performance - The company's operating revenue for the first half of 2019 was ¥1,823,691,816.54, a decrease of 34.29% compared to ¥2,775,321,967.43 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was -¥178,567,191.62, representing a decline of 281.12% from ¥98,591,901.46 in the previous year[18]. - The net cash flow from operating activities was -¥131,083,478.97, an improvement of 70.81% compared to -¥449,099,323.38 in the same period last year[18]. - The total assets decreased by 24.92% to ¥5,508,569,753.99 from ¥7,336,587,239.50 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company decreased by 6.75% to ¥2,433,902,671.50 from ¥2,610,191,478.94 at the end of the previous year[18]. - Basic earnings per share for the first half of 2019 were -¥0.2864, a decrease of 281.15% from ¥0.1581 in the same period last year[19]. - Operating revenue decreased by 34.29% to ¥1,823,691,816.54 compared to ¥2,775,321,967.43 in the same period last year[61]. - Operating costs decreased by 29.20% to ¥1,758,489,095.78 from ¥2,483,758,460.48 year-on-year[61]. - Research and development expenses increased by 6.19% to ¥68,145,087.34 from ¥64,174,975.89 year-on-year[61]. Business Operations and Strategy - The company attributed the decline in revenue and net profit primarily to reduced orders and revenue scale from its subsidiary, Shenzhen Xingfei, due to the overall macroeconomic environment and decreased demand for smartphone products[22]. - The company continues to develop its mobile smart terminal business, which includes smartphones and industry terminals, and has expanded into smart security monitoring solutions[25]. - The mobile smart terminal business is operated by Shenzhen Xingfei and its subsidiaries, which have nearly 60,000 square meters of R&D and production bases to meet domestic and international market demands[32]. - The company aims to enhance its 5G product line and integrate diverse product demands from various operators and terminal clients[53]. - The company is focusing on optimizing its organizational structure and production capacity to improve cost efficiency and reduce idle capacity losses[43]. - The company aims to expand its logistics data collection smart terminal market and develop new products such as AI measurement tools and Bluetooth headsets[56]. - The company plans to enhance its sales model in the micro-projection industry, focusing on 1080P, 720P, and 480P projection terminal products[56]. - The company is committed to maintaining technological leadership in the drone defense sector and developing a fourth-generation perimeter protection system[58]. - Shenzhen Xingfei plans to expand its customer base by introducing new clients and e-commerce resources in the second half of 2019[53]. Research and Development - The company has maintained its R&D investment to ensure product planning for 2019 and 2020 despite the decline in sales revenue and profit[46]. - Shenzhen Xingfei focuses on R&D investment in IoT and other smart terminals to drive market sales and enhance product value[80]. - The company is preparing to launch new products in fast charging and wireless charging, targeting future market trends in mobile devices[37]. - The battery and power supply business is conducted by Ruide Electronics, which has advanced production capabilities and has passed multiple international certifications, ensuring product quality and cost advantages[37]. - The IoT perimeter security business is managed by Zhongke Rongtong, which focuses on high-security applications and has developed multiple core technologies and products, including intelligent alarm systems and surveillance equipment[38]. - Zhongke Rongtong has applied for 17 invention patents and has received 6 authorizations, demonstrating its commitment to innovation in the security sector[38]. Legal and Compliance Issues - The company has been involved in multiple legal disputes, with some cases resulting in arbitration decisions favoring Shenzhen Xingfei[125]. - Shenzhen Xingfei faced multiple lawsuits in 2019, with claims totaling approximately 1.1 billion CNY across various cases[136]. - The company has ongoing litigation against Shenzhen Jizhi United Technology Co., Ltd. for RMB 165.01 million due to unpaid debts, currently in pre-litigation mediation[148]. - The company has submitted jurisdiction objections in multiple cases, indicating a proactive legal strategy[141]. - The company aims to mitigate risks associated with these legal disputes while continuing its business operations[142]. Financial Obligations and Investments - The company completed a total investment of RMB 120 million in major non-equity investments, with a cumulative input of RMB 117.99 million, achieving an investment progress of 98.33%[68]. - The company has permanently supplemented its working capital with RMB 178 million from surplus funds of investment projects, which will be used for daily operations[68]. - The company has obligations related to major asset restructuring, including compensation commitments based on net profit forecasts and share lock-up agreements[99]. - The company has not reported any asset impairment provisions during the reporting period[94]. - The company has engaged in discussions with strategic investors and state-owned enterprises to enhance its financial position[198]. Shareholder and Management Changes - The company experienced significant changes in its board and management, with multiple resignations and appointments throughout the reporting period[5]. - The company appointed Huang Kai as the new President on May 8, 2019, following the resignation of Wang Yikun due to personal reasons[6]. - The company held two shareholder meetings in the first half of 2019, including the first extraordinary meeting on March 4, 2019, and the annual meeting on May 21, 2019[94]. Market and Economic Conditions - The company anticipates continued net losses for the first nine months of 2019, primarily due to reduced demand for smartphone products and a decrease in orders[78]. - The company is facing liquidity issues due to macroeconomic factors and is actively seeking strategic investors and financial institution support to improve cash flow[92]. - The mobile communication terminal industry has a low overall gross margin, and competition among ODM manufacturers is intensifying, potentially impacting Shenzhen Xingfei's profitability[84]. - The security industry is supported by national policies, but potential regulatory changes could adversely affect the company's future development if it fails to obtain necessary qualifications[83]. - Shenzhen Xingfei aims to mitigate risks from US-China trade tensions by developing different business transaction models and planning overseas production resources[89].

Financial Performance - The company's operating revenue for 2017 was CNY 6,474,445,474.46, representing a 52.95% increase compared to CNY 4,232,988,543.77 in 2016[26] - The net profit attributable to shareholders for 2017 was CNY 186,708,521.64, a slight increase of 1.61% from CNY 183,750,784.48 in 2016[26] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 169,124,572.07, which is a significant increase of 77.75% compared to CNY 95,145,178.05 in 2016[26] - Basic earnings per share decreased by 19.85% to CNY 0.3001 from CNY 0.3744 in 2016[27] - Net profit attributable to shareholders after deducting non-recurring gains and losses increased by 40.18% to CNY 0.2718 per share from CNY 0.1939 in 2016[27] - The company reported a significant increase in unallocated profits, rising by 418.45% to 142,089,192.49 CNY, indicating a strong financial performance[98] - The company's total net profit for 2015, 2016, and 2017 was reported as ¥154,819,126.72, ¥183,750,784.48, and ¥186,708,521.64 respectively, with no dividends distributed in those years[183] Cash Flow and Assets - The net cash flow from operating activities was negative at CNY -293,443,461.95, a decline of 341.73% from CNY 121,391,843.60 in 2016[26] - The net cash flow from operating activities was negative CNY 146,206,464.48 in Q4 2017, indicating cash flow challenges[30] - The operating cash flow showed a significant decline, with a net outflow of approximately CNY 293.44 million, compared to a net inflow of CNY 121.39 million in the previous year[71] - Total assets at the end of 2017 amounted to CNY 8,225,118,774.79, which is a 15.47% increase from CNY 7,123,455,304.71 at the end of 2016[26] - The company's equity attributable to shareholders increased by 13.45% to 2,874,784,003.03 CNY, driven by improved profitability[98] - Accounts receivable rose by 49.92% to 3,487,687,789.17 CNY, primarily due to increased customer payments from subsidiary Shenzhen Xingfei[92] - Inventory decreased by 20.94% to 430,250,110.94 CNY, indicating improved inventory management[92] Business Operations and Strategy - The company has indicated that the 2018 operational plans are subject to change based on future internal and external conditions, highlighting potential risks[8] - The company is focusing on mobile intelligent terminal products and has established a presence in the IoT security field through acquisitions and internal growth strategies[37] - The company aims to integrate supply chain resources and has established long-term partnerships with key suppliers to ensure product quality and production efficiency[42] - The company is actively seeking investment opportunities in the fintech sector through the establishment of a venture capital fund, enhancing its growth potential[59] - The company plans to explore new investment opportunities in technology and innovation sectors through its newly established subsidiary, Shenzhen Yongsheng Shida Investment Development Co., Ltd.[113] - The company plans to expand its overseas market presence while consolidating its positions in Southeast Asia and Latin America, targeting entry into high-end markets like Japan and the USA[147] Subsidiaries and Acquisitions - The company acquired subsidiaries Shenzhen Xingfei, Dongfang Tuoyu, and Zhongke Rongtong, leading to changes in the consolidation scope and increased revenue from these subsidiaries[30] - Shenzhen Xingfei, a key subsidiary, has three production bases and serves over 30 countries, enhancing its competitive position in the ODM market[41] - The company established a new wholly-owned subsidiary, Shanghai Shiwow Network Technology Development Co., Ltd., with a registered capital of RMB 10 million to expand its business in the East China region[114] - The company agreed to acquire 100% of Hangzhou Xuhang Network Technology Co., Ltd. for RMB 940 million, later modifying the deal to acquire a 4% stake for RMB 29.4 million[122] Research and Development - The company’s R&D expenditure increased by 118.69% to approximately CNY 126.82 million, reflecting a strong commitment to innovation[71] - The company is increasing investment in IoT and smart terminal R&D, enhancing high-end resources to drive market sales and improve product value[162] - The company plans to develop a 5G product research team to closely follow 5G technology trends and actively participate in the development of 5G terminal solutions[152] Market Trends and Future Outlook - The global smartphone market saw a slight decline in shipments, with a total of approximately 1.472 billion units shipped in 2017, a year-on-year decrease of 0.1%[102] - The overall mobile internet market is projected to exceed 1 trillion CNY in 2018, continuing to grow rapidly[146] - The market for lithium batteries is expected to grow primarily in the fields of power batteries and energy storage batteries, driven by advancements in technology and the development of the new energy industry[103] - The company anticipates significant growth in the market for emerging mobile smart terminal products, including wearable devices and smart home products, driven by consumer interest[142] Profit Distribution and Commitments - The company has a clear profit distribution policy that aligns with shareholder interests and ensures transparency in decision-making processes[174] - The independent directors agreed that the decision not to distribute profits in 2016 and 2017 was in accordance with the company's profit distribution policy and relevant laws, given the negative retained earnings[179] - The company has committed to not seeking control over the actual controller or major shareholders for 36 months post-transaction completion[190] - The company committed to achieving a net profit of no less than 30 million yuan for the years 2016, 2017, and 2018[195]