| 证券代码：603228 | 证券简称：景旺电子 公告编号：2023-034 | | --- | --- | | 债券代码：113602 | 债券简称：景 转债 20 | 深圳市景旺电子股份有限公司 关于召开 2022 年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要提示： ● 投资者可于 2023 年 05 月 11 日(星期四)至 2023 年 05 月 17 日（星期三） 16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 stock@kinwong.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行 回答。 深圳市景旺电子股份有限公司（以下简称"公司"）已于 2023 年 04 月 20 日 发布公司《2022 年年度报告》，为便于广大投资者更全面深入地了解公司 2022 年 度经营成果、财务状况，公司计划于 2023 年 05 月 18 日下午 13:00-14:30 举行 2022 年度业绩说明会，就投资者关心的问题进行交流，现就会议有关事项公告 如下： ...

Financial Performance - The company's operating revenue for Q3 2022 was RMB 2,588,983,808.23, representing a year-on-year increase of 6.87%[2] - The net profit attributable to shareholders for the same period was RMB 281,449,336.69, reflecting a 14.12% increase compared to the previous year[2] - The net profit after deducting non-recurring gains and losses was RMB 281,009,691.94, which is a 26.28% increase year-on-year[2] - Total operating revenue for the first three quarters of 2022 reached ¥7,716,029,972.13, an increase of 14.18% compared to ¥6,759,656,883.93 in the same period of 2021[12] - Net profit for the third quarter of 2022 was ¥760,585,142.11, representing a 8.23% increase from ¥702,628,478.69 in Q3 2021[14] - Total operating profit for the third quarter of 2022 was ¥847,242,900.57, compared to ¥797,532,144.43 in the same quarter of the previous year, reflecting a growth of 6.23%[13] - The company’s total comprehensive income for the third quarter of 2022 was ¥760,585,142.11, compared to ¥702,628,478.69 in Q3 2021[14] Assets and Liabilities - The total assets at the end of the reporting period amounted to RMB 14,963,707,875.04, an increase of 4.34% from the end of the previous year[3] - As of September 30, 2022, the company's total assets amounted to RMB 14,963,707,875.04, an increase from RMB 14,341,831,053.63 at the end of 2021, reflecting a growth of approximately 4.35%[10] - Total liabilities were reported at RMB 6,961,986,767.61, slightly up from RMB 6,860,872,334.11, reflecting a growth of approximately 1.47%[11] - The equity attributable to shareholders reached RMB 7,785,246,305.64, an increase from RMB 7,278,185,081.52, indicating a growth of about 6.94%[11] - The company's long-term assets totaled RMB 7,858,938,534.25, up from RMB 7,237,435,668.81, representing an increase of approximately 8.59%[10] Cash Flow - The net cash flow from operating activities for the year-to-date period increased by 37.09%, primarily due to an increase in sales collections[6] - Cash flow from operating activities for the first three quarters of 2022 was ¥922,438,283.66, an increase of 37.03% from ¥672,874,920.99 in the same period of 2021[15] - The company reported a total cash inflow from operating activities of ¥8,478,193,627.62 for the first three quarters of 2022, compared to ¥7,009,819,302.24 in the same period of 2021[15] - The net cash flow from investment activities was -1,140,078,634.01 CNY, compared to -1,180,308,236.97 CNY in the previous year[17] - Cash inflow from financing activities totaled 746,860,251.75 CNY, an increase from 215,935,892.47 CNY year-over-year[17] - The net cash flow from financing activities was 292,864,296.67 CNY, contrasting with a negative flow of -204,805,638.53 CNY in the same period last year[17] - The cash and cash equivalents at the end of the period amounted to 901,619,582.75 CNY, up from 857,120,460.57 CNY year-over-year[17] Shareholder Information - The company reported a total of 22,046 common shareholders at the end of the reporting period[7] - The top two shareholders, Shenzhen Jinghong Yongtai Investment Holding Co., Ltd. and Zhichuang Investment Co., Ltd., each held 34.67% of the shares[7] Expenses and Costs - Total operating costs for the first three quarters of 2022 were ¥6,836,267,506.62, up 13.61% from ¥6,018,303,107.99 in the previous year[12] - Research and development expenses for the third quarter of 2022 amounted to ¥388,696,156.20, an increase of 15.36% compared to ¥336,940,776.94 in the same quarter of 2021[13] - The company’s financial expenses for the third quarter of 2022 showed a significant reduction, with a net financial expense of -¥63,223,007.87 compared to ¥65,951,839.28 in the same quarter of 2021[13] Other Financial Metrics - The weighted average return on equity for the reporting period was 3.79%, an increase of 0.24 percentage points compared to the same period last year[3] - Basic earnings per share for the third quarter of 2022 were ¥0.89, up from ¥0.84 in Q3 2021[14] - The company did not conduct an audit for the Q3 financial statements[2] - The company did not apply new accounting standards for the current reporting period[17] Changes in Accounts - Accounts receivable increased to RMB 3,349,869,763.42 from RMB 3,092,727,198.06, representing a growth of approximately 8.31%[9] - The company's inventory stood at RMB 1,487,266,508.40, compared to RMB 1,444,136,244.09, showing an increase of about 2.99%[9] - The company reported a decrease in accounts payable, which fell to RMB 2,467,397,364.43 from RMB 2,936,301,736.92, a decline of about 16.00%[10] - Deferred income tax assets increased to RMB 176,061,225.79 from RMB 134,188,086.77, reflecting a growth of approximately 31.19%[10] Investment Activities - The total cash outflow for investment activities was 1,821,459,430.04 CNY, compared to 6,313,975,634.86 CNY in the previous year[17] - The cash inflow from investment activities was 681,380,796.03 CNY, compared to 5,133,667,397.89 CNY in the previous year[17] - The cash inflow from other financing activities was 127,542,482.47 CNY, which is a new addition to the financing activities[17] - The company experienced a foreign exchange impact of 26,381,860.54 CNY on cash and cash equivalents[17]

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 5,127,046,163.90, representing an increase of 18.22% compared to CNY 4,337,002,370.25 in the same period last year[14]. - The net profit attributable to shareholders of the listed company was CNY 465,434,641.63, a slight increase of 0.64% from CNY 462,470,203.59 in the previous year[14]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 425,471,076.91, up by 2.97% from CNY 413,216,783.25 year-on-year[14]. - The net cash flow from operating activities was CNY 445,888,597.52, down by 16.28% compared to CNY 532,573,508.72 in the same period last year[14]. - The net assets attributable to shareholders at the end of the reporting period were CNY 7,497,737,085.71, an increase of 3.02% from CNY 7,278,185,081.52 at the end of the previous year[14]. - Total assets at the end of the reporting period were CNY 14,784,116,485.08, reflecting a growth of 3.08% from CNY 14,341,831,053.63 at the end of the previous year[14]. - Basic earnings per share remained stable at CNY 0.55, with a year-on-year increase of 0%[15]. - Diluted earnings per share also held steady at CNY 0.55, showing no change compared to the previous year[15]. - The basic earnings per share after deducting non-recurring gains and losses increased by 4.08% to CNY 0.51 from CNY 0.49 in the same period last year[15]. - The weighted average return on equity decreased by 0.65 percentage points to 6.23% from 6.88% year-on-year[15]. - The weighted average return on equity after deducting non-recurring gains and losses decreased by 0.46 percentage points to 5.69% from 6.15% year-on-year[15]. Market Overview - The global PCB market is projected to grow from USD 80.449 billion in 2021 to USD 101.559 billion by 2026, with a compound annual growth rate (CAGR) of 4.8%[20]. - The domestic PCB industry is expected to grow from USD 43.616 billion in 2021 to USD 54.605 billion by 2026, maintaining a CAGR of 4.6%[20]. - The automotive electronics market is projected to grow from USD 240 billion in 2021 to USD 337 billion by 2026, with a CAGR of 7.0%[23]. - The server and data storage market is expected to increase from USD 192 billion in 2021 to USD 290 billion by 2026, with a CAGR of 8.6%[24]. Company Rankings and Recognition - The company ranked 7th in the comprehensive PCB enterprise ranking and 3rd among domestic PCB enterprises in China according to CPCA in 2021[25]. - The company was listed as the 16th among the global top 100 PCB manufacturers by Prismark in 2021[25]. Production and Quality Management - The company has five major production bases, with Shenzhen Jingwang focusing on high-tech rigid boards and flexible boards, and Jiangxi Jingwang being one of the leading automated factories in the industry[27]. - The company has established a strict quality management system, obtaining certifications such as ISO 9001-2015 and IATF 16949-2016, ensuring reliable product quality[31]. - The company emphasizes cost control through lean production management, implementing a comprehensive cost control management system across all production processes[32]. - The company has a diversified product strategy, providing a wide range of products for various applications including telecommunications, consumer electronics, and automotive electronics[30]. - The company actively maintains and expands overseas markets through subsidiaries in Europe, Japan, and the United States, enhancing global competitiveness[28]. - The company utilizes a "direct sales as the main, distribution as a supplement" sales model, targeting both end customers and PCB traders[29]. - The company has a strong focus on technological innovation and quality control, which has led to multiple quality awards from clients such as Vivo and Hikvision[31]. Research and Development - The company invested 244 million in R&D during the first half of 2022, an increase of 20.96% year-on-year, focusing on market-driven technological innovations[39]. - The company has obtained 235 invention patents and 182 utility model patents, enhancing its technological capabilities and industry standards[36]. - The company has established a comprehensive information management system integrating ERP, MES, and other systems, optimizing resource allocation and reducing costs[33]. Financial Management - The company reported a significant increase in net profit in Q2 2022, reaching 296 million, a 65.90% increase quarter-on-quarter, due to cost control and declining raw material prices[40]. - The company has a diverse customer base across various industries, reducing risks associated with reliance on a single sector[34]. - The company emphasizes long-term strategic partnerships with clients, enhancing its service capabilities and deepening customer value[34]. - The company is committed to organizational transformation to improve management efficiency and enhance overall competitiveness[40]. Environmental Management - Shenzhen Jingwang reported a COD emission concentration of 55.8 mg/L, totaling 34.00320 tons per half year[59]. - The company recorded an ammonia nitrogen emission concentration of 8.97 mg/L, amounting to 6.37560 tons per half year[59]. - Total nitrogen emissions were reported at 22.5 mg/L, with a total of 8.50080 tons per half year[59]. - The company has established a wastewater treatment system utilizing a combination of pre-treatment, biological active sludge, and MBR membrane filtration[59]. - The company has implemented a stable operation for its wastewater treatment facilities to meet environmental standards[61]. - The company has received environmental protection approvals for its projects, ensuring compliance with regulations[72]. - The company has established emergency response plans for environmental incidents, with documentation filed with local environmental authorities[82]. Shareholder and Corporate Governance - The company has committed to not engaging in any business that competes with its subsidiaries, ensuring no direct or indirect competition during the control period[90]. - The commitments made by the actual controllers and shareholders to avoid conflicts of interest and ensure compliance with relevant laws and regulations are ongoing and strictly adhered to[91]. - The company has promised to not transfer benefits unfairly to other entities or individuals, maintaining the integrity of its operations and management[92]. - The company will compensate investors for any losses incurred due to false statements or omissions in its prospectus, ensuring accountability to minority shareholders[92]. - The commitments regarding related party transactions will be strictly followed, with adherence to legal and regulatory requirements to protect shareholder interests[91]. Capital Structure and Financing - The total guarantee amount (excluding guarantees to subsidiaries) is CNY 2,980,000,000, accounting for 38.65% of the company's net assets[98]. - The company has provided guarantees totaling CNY 2,980,000,000 to its subsidiaries during the reporting period[98]. - The company plans to publicly issue A-share convertible bonds totaling no more than RMB 1.16 billion, with the funds allocated for a project to produce 600,000 square meters of high-density interconnect printed circuit boards annually[116]. - The company issued 17.8 million convertible bonds in 2020, raising a total of RMB 1.78 billion, with a maturity of 6 years and a coupon rate that increases from 0.4% to 2.0% over the term[107]. Financial Position - As of June 30, 2022, the company converted 4,437 restricted shares from the "Jing 20 Convertible Bonds" into A-shares[154]. - The company maintains a continuous operation basis for its financial statements, with no significant doubts about its ability to continue operations within the next 12 months[158]. - The company’s financial statements comply with the requirements of enterprise accounting standards, reflecting its financial position and operating results accurately[159].

Financial Performance - The company's operating revenue for 2021 was approximately CNY 9.53 billion, representing a year-over-year increase of 34.95% compared to CNY 7.06 billion in 2020[15]. - The net profit attributable to shareholders for 2021 was approximately CNY 935.25 million, a slight increase of 1.55% from CNY 920.99 million in 2020[15]. - The net cash flow from operating activities decreased by 25.33% to approximately CNY 1.14 billion in 2021, down from CNY 1.53 billion in 2020[15]. - The total assets at the end of 2021 were approximately CNY 14.34 billion, an increase of 18.47% from CNY 12.11 billion at the end of 2020[15]. - The basic earnings per share for 2021 was CNY 1.11, a slight increase of 0.91% compared to CNY 1.10 in 2020[16]. - The weighted average return on equity for 2021 was 13.58%, a decrease of 2.03 percentage points from 15.61% in 2020[16]. - The company reported non-recurring gains of approximately CNY 94.91 million in 2021, compared to CNY 103.89 million in 2020[18]. - The company's operating revenue for the reporting period reached ¥9,532,422,463.08, representing a year-on-year increase of 34.95% compared to ¥7,063,588,891.52[39]. - The operating cost increased by 44.24% to ¥7,302,850,532.77, primarily due to sales scale growth, new factory production, and rising raw material prices[39]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of RMB 3.00 per 10 shares to all shareholders based on the total share capital on the dividend distribution date[3]. - The company has a cash dividend policy that mandates a minimum of 20% of the distributable profit to be distributed as cash dividends if certain conditions are met[112]. - In the absence of significant investment plans, the company will distribute at least 40% of the total profit distribution amount as cash dividends[113]. - The company can issue stock dividends based on the available distributable profits and cash flow, ensuring alignment with overall shareholder interests[113]. - The total number of shares held by Chairman Liu Shaobai increased from 0 to 638,405 shares during the reporting period, with a pre-tax remuneration of 2.5542 million yuan[82]. - The total number of shares held by the company’s executives increased by 1,147,447 shares, with a total pre-tax remuneration of 14.0421 million yuan for the reporting period[83]. - The company executed a cash dividend distribution of RMB 3.00 per 10 shares, impacting the earnings per share and net assets per share[179]. Corporate Governance - The company has established a robust corporate governance structure, complying with relevant laws and regulations to enhance management quality[76]. - The board of directors consists of nine members, including three independent directors, and held twelve meetings to support scientific decision-making[78]. - The supervisory board, comprising three members, conducted seven meetings to oversee the company's major matters and protect shareholder interests[79]. - The company maintains independence from its controlling shareholder, ensuring no interference in decision-making or operations[80]. - The company has not faced any penalties from securities regulatory agencies in the past three years[91]. - The company has no dissenting opinions from the board regarding its operations during the reporting period[106]. Research and Development - R&D investment reached 458 million yuan, up 28.71% year-on-year, focusing on high-performance products and technologies[24]. - The company has established a technology research system involving universities and research institutions to enhance product innovation[24]. - The company has developed batch production technologies for various PCB products, including high-density rigid-flex PCBs, and holds 209 invention patents and 164 utility model patents[37]. - The company has a total of 1,497 R&D personnel, accounting for 10.35% of the total workforce[54]. - The company is currently constructing a headquarters R&D center and office building with an investment of up to ¥450 million[57]. Environmental Management - The company reported a total COD discharge of 9.69 tons/year with a concentration of 38.63 mg/L, which is within the permitted limits[122]. - The company’s wastewater treatment facilities utilize a combination of pre-treatment and biological methods to ensure compliance with discharge standards[122]. - The company has implemented a wastewater recycling system using membrane separation technology to enhance environmental protection efforts[122]. - The company is committed to continuous monitoring and improvement of its environmental management practices in line with regulatory changes[120]. - The company has established a comprehensive environmental monitoring scheme, including quarterly noise testing and annual soil testing[147]. Market and Industry Outlook - The PCB industry is expected to grow at a compound annual growth rate of 4.8% from 2021 to 2026, driven by demand in automotive, 5G communication, and IoT sectors[28]. - The automotive electronics sector is expected to grow at a CAGR of 8.0% from 2020 to 2025, significantly boosting PCB demand[64]. - The 5G market is anticipated to see significant growth, with China planning to build over 600,000 new 5G base stations in 2022, contributing to stable demand for PCBs[66]. - The wearable electronics market, including smartwatches and TWS earbuds, saw a shipment increase of 24% in 2021, indicating rising demand for HDI boards and flexible PCBs[67]. Risk Management - The company faces risks from macroeconomic fluctuations and raw material price volatility, which could impact production stability and profitability[70][71]. - The company is sensitive to fluctuations in the USD/CNY exchange rate, which can directly impact the cost of imported raw materials and the selling price of exported products, affecting net profit[72]. - The company is actively managing supply chain risks by collaborating with suppliers and clients to address raw material price fluctuations[26]. Financial Management - The company has a total guarantee amount of RMB 3.13 billion, which accounts for 41.84% of its total assets[164]. - The company invested RMB 621.9 million in bank wealth management products from its own funds, with an outstanding balance of RMB 34 million[165]. - The company raised RMB 820 million through fundraising for bank wealth management products, with an outstanding balance of RMB 250 million[165]. - The company reported a total of 1,500 million in entrusted financial management with an annualized return rate of 1.65%[167]. - The company achieved a return of 20.52 million from a structured deposit linked to the stock market, with an annualized return rate of 3.15%[167]. Employee Management - The company employed a total of 14,469 staff, with 2,320 in the parent company and 12,149 in major subsidiaries[107]. - The workforce includes 8,838 production personnel, 4,059 technical staff, and 1,254 administrative employees[108]. - The company conducted a total of 171,428 hours of employee training during the reporting period, covering 12 major projects across 5 key areas[110]. - The company has implemented a performance-oriented compensation policy linking individual and team performance[109]. Shareholder Structure - The top two shareholders, Shenzhen Jinghong Yongtai Investment Holding Co., Ltd. and Zhichuang Investment Co., Ltd., each hold 293,731,122 shares, representing 34.49% of the total shares[184]. - The number of ordinary shareholders decreased from 20,021 to 18,948 during the reporting period[183]. - The company has no preferred shareholders with restored voting rights as of the end of the reporting period[183].

Financial Performance - The company's operating revenue for Q1 2022 was RMB 2,367,788,373.20, representing a year-on-year increase of 14.31%[4] - The net profit attributable to shareholders was RMB 175,634,866.06, a decrease of 30.96% compared to the same period last year[4] - The basic earnings per share were RMB 0.21, reflecting a decrease of 30.00%[4] - The company's net profit for March 2022 reached RMB 97,378,300, benefiting from the production capacity of newly invested high-end product factories[5] - The company's net profit decreased during the reporting period due to rising raw material costs[13] - The net profit for Q1 2022 was approximately ¥178.65 million, a decrease of 29% compared to ¥251.51 million in Q1 2021[18] - The total comprehensive income for Q1 2022 was approximately ¥178.65 million, down from ¥251.51 million in Q1 2021[18] Cash Flow and Assets - The net cash flow from operating activities was RMB 60,194,216.39, down 87.58% year-on-year[4] - As of March 31, 2022, the company's total current assets amounted to approximately RMB 6.79 billion, a decrease from RMB 7.10 billion at the end of 2021[14] - The company's inventory increased to approximately RMB 1.68 billion from RMB 1.44 billion year-over-year[14] - The company reported accounts receivable of approximately RMB 3.06 billion, slightly down from RMB 3.09 billion in the previous year[14] - Cash flow from operating activities generated a net amount of ¥60.19 million, significantly lower than ¥484.80 million in the same period last year[19] - The cash and cash equivalents at the end of Q1 2022 were approximately ¥589.87 million, a decrease from ¥1.26 billion at the end of Q1 2021[20] Operating Costs and Expenses - The increase in operating costs was primarily due to the rise in prices of raw materials, leading to an increase of nearly RMB 106 million in quarterly operating costs[4] - Total operating costs for Q1 2022 were ¥2,191,122,046.53, up from ¥1,806,690,974.98 in Q1 2021, reflecting a year-over-year increase of 21.3%[17] - Research and development expenses increased by 32.79%, indicating a focus on product innovation[9] - Research and development expenses increased to ¥112,241,072.17 in Q1 2022, compared to ¥84,525,078.49 in Q1 2021, marking a rise of 32.8%[17] Shareholder Information - The total number of common shareholders at the end of the reporting period was 20,012[11] - The largest shareholder, Shenzhen Jinghong Yongtai Investment Holding Co., Ltd., holds 293,731,122 shares, accounting for 34.49% of total shares[11] Future Outlook and Strategy - The company plans to enhance market expansion efforts in sectors like automotive electronics, capitalizing on favorable demand trends[4] - The company expects significant improvement in operational efficiency in the future as new high-end technology product factories ramp up production and sales[13] - The company plans to enhance product R&D efforts and expand its market presence in both domestic and international markets[13] - The company aims to optimize its order structure for high-value-added products to improve profitability[13] - The company has established a consistent action relationship among major shareholders to enhance operational efficiency[12] Investment and Financing Activities - The company reported a significant decrease in investment income by 86.24%, attributed to a reduction in financial management scale[9] - Cash flow from investing activities resulted in a net outflow of approximately ¥338.17 million, compared to a net outflow of ¥866.41 million in Q1 2021[20] - Cash flow from financing activities generated a net inflow of approximately ¥69.97 million, compared to ¥59.28 million in Q1 2021[20] - The company did not execute any mergers or acquisitions during this reporting period[22]

Financial Performance - Revenue for Q3 2021 reached ¥2,422,654,513.68, an increase of 35.51% compared to the same period last year[2] - Net profit attributable to shareholders was ¥246,616,639.39, reflecting a year-on-year growth of 19.33%[2] - Net profit excluding non-recurring items was ¥222,531,914.37, up 15.80% year-on-year[2] - Total operating revenue for the first three quarters of 2021 reached ¥6,759,656,883.93, a significant increase from ¥4,926,916,532.98 in the same period of 2020, representing a growth of approximately 37.5%[17] - Net profit for the third quarter of 2021 was ¥702,628,478.69, compared to ¥688,431,698.92 in the same quarter of 2020, reflecting an increase of about 2.0%[18] - Basic earnings per share for the quarter were ¥0.29, a 16.00% increase compared to the same period last year[4] - Basic earnings per share for the third quarter of 2021 were ¥0.84, compared to ¥0.82 in the same quarter of 2020, reflecting a growth of about 2.4%[19] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥13,735,987,155.38, a 13.47% increase from the end of the previous year[4] - The company's total assets reached ¥13,735,987,155.38, up from ¥12,105,507,834.35, indicating an increase of approximately 13.5%[15] - The total liabilities amounted to ¥6,470,877,691.12, compared to ¥5,348,679,737.43, which is an increase of around 20.9%[15] - The company's total current liabilities reached approximately ¥3.62 billion, while non-current liabilities were approximately ¥1.73 billion[27] - The total amount of employee compensation payable was approximately ¥183 million, highlighting the company's commitment to its workforce[27] Shareholder Equity - Shareholders' equity attributable to the parent company reached ¥7,064,157,047.95, representing a 7.86% increase year-on-year[4] - The company's total equity attributable to shareholders reached ¥7,064,157,047.95, compared to ¥6,549,417,316.32 in the previous year, showing an increase of approximately 7.8%[16] - The total owner's equity attributable to shareholders was approximately ¥6.55 billion, with minority interests of approximately ¥207 million[28] - The company reported a total of ¥3.45 billion in undistributed profits, indicating strong retained earnings[27] Cash Flow - Operating cash flow for the year-to-date period was ¥672,874,920.99, down 40.55% year-on-year due to increased operational expenditures[4] - Cash flow from operating activities for the first three quarters of 2021 was ¥6,581,151,427.09, compared to ¥5,448,119,524.49 in the same period of 2020, representing an increase of about 20.8%[20] - The net cash inflow from operating activities was CNY 672,874,920.99, a decrease of 40.5% compared to CNY 1,131,859,416.17 in the previous year[22] - The total cash inflow from investment activities was CNY 5,133,667,397.89, an increase of 32.2% from CNY 3,882,930,950.26 in the same period last year[23] - The net cash outflow from financing activities was CNY 204,805,638.53, contrasting with a net inflow of CNY 1,651,039,412.44 in the previous year[23] Operational Efficiency - The company attributed revenue growth to the launch of new projects and increased product sales[8] - The company is focused on enhancing operational efficiency and decision-making through strategic shareholder agreements, which include major shareholders acting in concert[12] - Research and development expenses for the first three quarters of 2021 were ¥336,940,776.94, an increase from ¥259,229,561.58 in the same period of 2020, marking a rise of about 30.0%[17] Inventory and Receivables - Accounts receivable rose to ¥2,812,269,819.36, compared to ¥2,371,968,301.04, marking an increase of about 18.6%[13] - Inventory levels significantly increased to ¥1,906,077,313.86 from ¥877,534,668.19, representing a growth of approximately 117.4%[14] Employee Compensation - The company paid CNY 1,216,091,700.25 in employee compensation, which is an increase of 37.9% compared to CNY 882,819,467.69 last year[22] Financial Obligations - The company had approximately ¥1.47 billion in payable bonds, indicating significant debt obligations[27] - The deferred income tax liabilities were approximately ¥86 million, suggesting potential future tax obligations[27] - The total amount of interest payable was approximately ¥2.58 million, reflecting the company's interest obligations[27]

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥4,337,002,370.25, representing a 38.16% increase compared to ¥3,139,085,787.17 in the same period last year[14]. - The net profit attributable to shareholders of the listed company was ¥462,470,203.59, a decrease of 3.23% from ¥477,922,656.14 in the previous year[14]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥413,216,783.25, down 3.49% from ¥428,140,769.68 year-on-year[14]. - The net cash flow from operating activities was ¥532,573,508.72, a decline of 32.17% compared to ¥785,165,284.76 in the same period last year[14]. - Basic earnings per share for the reporting period (1-6 months) decreased by 3.51% to CNY 0.55 compared to the same period last year[15]. - Weighted average return on equity dropped to 6.88%, down 1.62 percentage points from 8.50% in the same period last year[15]. - Operating costs increased by 48.83% to ¥3,260,491,509.10, primarily due to sales growth, new factory production, and rising raw material prices[40]. - The company reported a significant increase in financial expenses by 431.88% to ¥50,860,095.45, mainly due to exchange losses and increased convertible bond interest expenses[41]. Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥13,320,880,647.45, reflecting a 10.04% increase from ¥12,105,507,834.35 at the end of the previous year[14]. - The net assets attributable to shareholders at the end of the reporting period were ¥6,815,934,114.21, an increase of 4.07% from ¥6,549,417,316.32 at the end of the previous year[14]. - The company's cash and cash equivalents at the end of the period were ¥1,244,550,358.89, down 38.40% from ¥2,020,499,630.72 at the end of the previous year[43]. - Total liabilities reached ¥6,301,580,001.14, compared to ¥5,348,679,737.43, marking an increase of around 17.74%[117]. - Current liabilities rose to ¥4,519,663,237.11, up from ¥3,619,432,838.86, indicating a growth of approximately 24.87%[116]. Production and Operations - The company has expanded its production capabilities with the official launch of the HLC factory and HDI (including SLP) factory in Zhuhai, enhancing high-end product processing capacity[21]. - The company operates five major production bases, with a focus on customized products rather than standard items, aligning production with sales orders[20]. - The company has a procurement management department to oversee raw material procurement, ensuring efficient supply chain management[19]. - The company has a strong focus on high-density interconnect (HDI) and multi-layer products, catering to diverse market needs[19]. - The new factory projects, including the Zhuhai Jingwang HLC and HDI (including SLP), are expected to significantly enhance high-end product manufacturing capabilities, particularly for 5G communication devices and automotive multilayer PCBs[37]. Research and Development - R&D investment reached 202 million RMB, reflecting a year-on-year growth of 21.75%, focusing on high-performance products such as OLED multilayer products and automotive applications[38]. - The company holds 192 invention patents and 248 utility model patents, demonstrating its commitment to innovation and technology development[35]. - The company has established a comprehensive cost control management system, resulting in improved efficiency and reduced waste throughout the production process[32]. Market Trends - In 2021, China's PCB industry sales are expected to grow by 14.1% year-on-year, driven by the recovery of suppressed consumer demand due to the pandemic[23]. - The global PCB industry is projected to reach a value of over $46 billion by 2025, with China being the main driver of this growth[24]. - The automotive electronics market saw a production and sales increase of 24.2% and 25.6% respectively in the first half of 2021, with new energy vehicles experiencing a staggering growth of 200%[25]. - The demand for PCBs in 5G infrastructure is expected to reach $3.7 billion by 2025, with a CAGR of about 6.8% from 2020 to 2025[26]. Environmental Compliance - The company has implemented a wastewater treatment system that includes pre-treatment and MBR membrane technology for effective pollutant removal[58]. - The company’s air emissions included nitrogen oxides at 2.8061 tons with a concentration of 3.0 mg/m³, compliant with the second-level standards[58]. - The company has established a real-time monitoring system for wastewater and air emissions to ensure compliance with environmental regulations[58]. - The company has committed to enhancing its environmental protection measures and has invested in pollution control facilities[57]. - The company has completed environmental impact assessments and received approvals for various projects, ensuring compliance with environmental regulations[75]. Shareholder and Corporate Governance - The company has committed to timely and strict fulfillment of its promises, ensuring transparency and accountability in its operations[89]. - The company has established a long-term commitment to uphold the rights of minority shareholders, ensuring protection against misleading statements in the prospectus[92]. - The company confirmed that there are no non-operating fund occupations by controlling shareholders or related parties during the reporting period[93]. - The total guarantee amount (excluding guarantees to subsidiaries) during the reporting period was CNY 3,130,000,000, accounting for 44.59% of the company's net assets[98]. - The company has no strategic investors or general corporations becoming top ten shareholders due to new share placements during the reporting period[106]. Financial Instruments and Accounting - Financial instruments are recognized when the company becomes a party to the financial instrument contract, with specific conditions for derecognition[171]. - The company applies the effective interest method for subsequent measurement of financial assets classified at amortized cost, with gains or losses recognized in the current period[173]. - The company recognizes expected credit losses for financial assets measured at amortized cost and debt instruments measured at fair value with changes recognized in other comprehensive income[177]. - The company assesses credit risk based on the aging of receivables, particularly for commercial acceptance bills[180]. - The company adopts a simplified model for expected credit losses on accounts receivable, measuring loss provisions based on the expected credit loss over the entire duration of the receivables[182].

Financial Performance - Operating revenue for the first quarter reached CNY 2.07 billion, a 43.99% increase year-on-year[4] - Net profit attributable to shareholders was CNY 254.39 million, up 14.81% from the same period last year[4] - Basic and diluted earnings per share were both CNY 0.30, representing a 15.38% increase compared to CNY 0.26 in the previous year[5] - The company's net profit margin improved, with net profit for Q1 2021 reflecting a positive trend due to increased revenue and controlled costs[20] - The total profit for Q1 2021 was CNY 285.90 million, compared to CNY 259.15 million in Q1 2020, marking a 10.3% increase[21] - The net profit for Q1 2021 reached CNY 251.51 million, up 11.3% from CNY 226.02 million in Q1 2020[21] Cash Flow and Investments - Net cash flow from operating activities was CNY 484.80 million, reflecting a 3.42% increase year-on-year[4] - The net cash flow from investing activities was negative at CNY -866,405,005.65, a significant decrease of 704.89% from CNY 143,233,475.64, due to ongoing investments in new factory equipment[13] - Cash and cash equivalents decreased to CNY 1,613,367,941.23 from CNY 2,020,499,630.72, a decline of about 20.14% year-over-year[15] - The total cash outflow from investing activities reached CNY 2,531,074,514.03, significantly higher than CNY 1,509,879,809.77 in the previous year, indicating an increase of approximately 67.2%[27] - The company's cash flow from operating activities was CNY 2.12 billion in Q1 2021, compared to CNY 1.91 billion in Q1 2020, indicating a growth of 11.0%[25] Assets and Liabilities - Total assets increased by 7.13% to CNY 12.97 billion compared to the end of the previous year[4] - Total current assets as of March 31, 2021, amounted to ¥7,570,210,745.11, an increase from ¥7,199,840,202.51 as of December 31, 2020, representing a growth of approximately 5.14%[15] - Total liabilities as of March 31, 2021, were ¥5,945,963,673.93, compared to ¥5,348,679,737.43, marking an increase of approximately 11.14%[17] - Total equity increased to ¥7,022,861,307.78 from ¥6,756,828,096.92, representing a growth of about 3.94%[17] - The company's long-term borrowings slightly increased to ¥9,874,721.35 from ¥9,775,586.35, reflecting a growth of approximately 1.01%[17] Shareholder Information - The total number of shareholders at the end of the reporting period was 27,975[7] - The top two shareholders, Shenzhen Jinghong Yongtai Investment Holding Co., Ltd. and Zhichuang Investment Co., Ltd., each held 34.43% of the shares[7] Operational Metrics - Operating costs increased by 50.25% to CNY 1,529,412,614.21 from CNY 1,017,883,975.70, influenced by sales growth and rising raw material prices[12] - Research and development expenses increased to ¥84,525,078.49 in Q1 2021, compared to ¥72,055,046.57 in Q1 2020, reflecting a growth of 17.3%[20] - The company's management expenses rose by 42.05% to CNY 131,463,432.01 from CNY 92,544,614.35, mainly due to expenses related to the establishment of new factories[12] Market and Product Development - The company has not disclosed any new product developments or market expansion strategies in this report[3]

Financial Performance - The company's operating revenue for 2020 was CNY 7,063,588,891.52, representing an increase of 11.55% compared to 2019 [20]. - The net profit attributable to shareholders for 2020 was CNY 920,988,701.28, reflecting a growth of 10.02% year-over-year [20]. - The net cash flow from operating activities reached CNY 1,526,815,234.44, a significant increase of 74.77% from the previous year [20]. - The total assets at the end of 2020 amounted to CNY 12,105,507,834.35, which is a 37.25% increase compared to the end of 2019 [20]. - The basic earnings per share for 2020 was CNY 1.10, up 7.84% from CNY 1.02 in 2019 [21]. - The weighted average return on equity decreased to 15.61% in 2020, down by 1.59 percentage points from 2019 [21]. - The company reported non-recurring gains of CNY 102,274,841.43 for 2020, compared to CNY 66,949,547.59 in 2019 [29]. - The net assets attributable to shareholders at the end of 2020 were CNY 6,549,417,316.32, a 20.73% increase from the end of 2019 [20]. - The company achieved a net profit of CNY 236,396,178.17 in the fourth quarter of 2020, contributing to the overall annual performance [23]. Dividend Policy - The company plans to distribute a cash dividend of RMB 3.00 per 10 shares to all shareholders, based on the total share capital on the dividend distribution date [6]. - The company has no plans for capital reserve conversion into share capital for the 2020 profit distribution [6]. - In 2020, the company distributed cash dividends of 3.00 RMB per share, amounting to 256,045,108.20 RMB, representing 27.80% of the net profit attributable to shareholders [126]. - The company plans to distribute at least 20% of its distributable profits as cash dividends if certain conditions are met, including profitability and no major capital expenditures [122]. - The company has a cash dividend policy that ensures a minimum distribution of 20% of the distributable profits annually [125]. Operational Capacity and Projects - The company has a total of 60 million square meters of high-density interconnect printed circuit board production capacity planned for the HDI project [12]. - The company has a total of 120 million square meters of multilayer printed circuit board production capacity planned for the HLC project [12]. - The company issued convertible bonds raising 1.78 billion RMB to support key project developments, particularly the HLC project [66]. - The company plans to invest RMB 2.68895 billion in the first phase of the Jingwang Electronics Technology (Zhuhai) Co., Ltd. project, with a production capacity of 600,000 square meters of high-density interconnect printed circuit boards, which is currently under construction [98]. - The company issued 17.8 million convertible bonds at RMB 100 each, raising a total of RMB 1.78 billion for the first phase of the Jingwang Electronics Technology (Zhuhai) Co., Ltd. project, which is also under construction [99]. Research and Development - The company invested 356 million RMB in R&D, an increase of 19.66% year-on-year, focusing on technology innovation and product development [65]. - The company has a well-established R&D framework, recognized as a high-tech enterprise, with multiple patents and industry standards developed [57]. - The company has 1,289 R&D personnel, making up 10.64% of the total workforce [80]. - R&D expenses totaled ¥355,608,921.22, accounting for 5.03% of operating revenue [80]. Market Position and Strategy - The company focuses on the research, production, and sales of printed circuit boards (PCBs), covering rigid PCBs (RPCB), flexible PCBs (FPC), and metal-based PCBs (MPCB) among others [33]. - The company has established independent factories for RPCB, FPC, and MPCB, ranking among the top in various product segments [47]. - The company has been recognized as one of the top PCB manufacturers globally, ranking 20th in the N.T.Information's global PCB supplier list in 2019 [43]. - The PCB industry is expected to grow at a compound annual growth rate (CAGR) of approximately 5.8% globally from 2020 to 2025, with China's PCB market expected to grow at a CAGR of 5.6% [41]. - The company aims to enhance its technological innovation capabilities and optimize manufacturing processes in response to industry trends [95]. Environmental Responsibility - The company invested over 101.83 million yuan in environmental protection equipment and operations during the reporting period, actively building an environmentally friendly enterprise [177]. - The company has established a robust wastewater treatment facility, ensuring that wastewater meets the discharge standards before being released into the municipal system [187]. - The company has implemented a wastewater treatment system that combines physical-chemical treatment and biological active sludge methods, ensuring stable operation [190]. - The company has constructed a concentrated wastewater treatment system with a designed capacity of 243.5 m³/month, operational since October 2019 [200]. - The company has emphasized its corporate philosophy of creating value for shareholders while fulfilling social responsibilities [174]. Risk Management and Compliance - The company reported no significant risks that could materially affect its operations during the reporting period [7]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties [7]. - The company has no violations of decision-making procedures regarding external guarantees [7]. - The company has committed to maintaining the accuracy and completeness of the financial report as stated by its management [4]. - The company has maintained compliance with legal procedures in its financial management activities, ensuring regulatory adherence [171]. Corporate Governance - The company has confirmed that all board members attended the board meeting, ensuring the integrity of the annual report [5]. - The company has received a standard unqualified audit report from Tianzhi International Accounting Firm [5]. - The company appointed Tianzhi International Accounting Firm as its domestic auditor, with a remuneration of 145 million for an 8-year audit term [138]. - The company has maintained a good integrity status for its controlling shareholders and actual controllers [140]. - The commitments made by major shareholders and related parties are effective during their control period, ensuring compliance with relevant laws and regulations [132].

Financial Performance - Net profit attributable to shareholders rose by 8.51% to CNY 684,592,523.11 for the year-to-date period[4] - Operating income for the year-to-date period increased by 8.65% to CNY 4,926,916,532.98 compared to the same period last year[4] - Basic earnings per share increased by 6.49% to CNY 0.82 per share compared to the previous year[5] - The company's net profit for the first three quarters of 2020 was ¥688,431,698.92, compared to ¥587,446,900.31 in the same period of 2019, representing a growth of about 17.2%[24] - The net profit for the first three quarters of 2020 was ¥422,474,416.66, slightly down from ¥443,723,605.31 in the same period of 2019, indicating a decrease of around 4.8%[22] - The net profit attributable to shareholders of the parent company for Q3 2020 was ¥206,669,866.97, compared to ¥204,416,511.21 in Q3 2019, showing a slight increase of about 1.1%[25] Assets and Liabilities - Total assets increased by 28.85% to CNY 11,364,365,693.03 compared to the end of the previous year[4] - The total liabilities increased significantly, with short-term borrowings rising by 39.71% to RMB 127,620,742.91 from RMB 91,346,780.39, indicating increased bank borrowings[13] - Total liabilities reached approximately 4.86 billion RMB, compared to 3.19 billion RMB at the end of 2019, marking an increase of about 52.3%[20] - The company's total liabilities amounted to ¥4,143,210,168.74, compared to ¥2,394,408,898.76 in the previous year, reflecting an increase of about 73.0%[22] - The total amount of contract liabilities was approximately $487.74 thousand, reflecting a shift in revenue recognition practices[41] Cash Flow - Net cash flow from operating activities increased by 49.87% to CNY 1,131,859,416.17 year-to-date[4] - Cash inflow from operating activities for the first three quarters of 2020 was approximately ¥5.68 billion, an increase from ¥4.71 billion in the same period of 2019[32] - The net cash flow from operating activities for Q3 2020 was approximately ¥1.13 billion, compared to ¥755.23 million in Q3 2019[33] - Cash inflow from financing activities totaled ¥1,925,186,307.57, with net cash flow from financing activities reaching ¥1,728,338,981.77, a recovery from a negative cash flow in 2019[35] Research and Development - The company's R&D expenses rose by 21.24% to RMB 259,229,561.58 compared to RMB 213,813,784.25 in the same period last year, reflecting increased investment in research and development[14] - Research and development expenses for Q3 2020 were ¥93,246,490.68, compared to ¥79,250,480.07 in Q3 2019, representing an increase of about 17.6%[23] - The company's R&D expenses for Q3 2020 were ¥37,248,805.94, up from ¥28,099,843.63 in Q3 2019, marking an increase of approximately 32.5%[27] Shareholder Information - The total number of shareholders reached 32,728 by the end of the reporting period[8] - The largest shareholder, Shenzhen Jinghong Yongtai Investment Holding Co., Ltd., holds 34.50% of the shares[8] Financial Management - The company reported a government subsidy income of CNY 72,046,579.56 for the year-to-date period[6] - The profit margin from financial expenses showed a significant increase of 190.11%, resulting from exchange losses due to the appreciation of the RMB against the USD[15] - The company reported a decrease in investment income by 28.37% to RMB 12,080,373.94, attributed to reduced wealth management returns[15] - The company received tax refunds of ¥25,413,694.26, up from ¥8,745,430.88 in the previous year, indicating improved tax management[34] Capital and Equity - The company's equity attributable to shareholders was approximately 6.29 billion RMB, up from 5.42 billion RMB, representing a growth of about 16.0%[20] - The company's total equity reached approximately $5.63 billion, with attributable equity to shareholders at around $5.42 billion[38] - The company reported a capital reserve of approximately $1.95 billion, contributing to overall equity strength[38] Investment Activities - The company issued 17.8 million convertible bonds with a total value of RMB 178,000,000.00, approved by the China Securities Regulatory Commission, to raise funds for expansion[16] - The company has made significant investments in fixed assets, with cash payments for fixed assets amounting to ¥101,216,945.68, compared to ¥70,058,149.79 in the previous year[34] - The company reported total assets of approximately $5.46 billion, with non-current assets totaling around $3.08 billion[40] Other Information - The company has not disclosed any new product developments or market expansion strategies in this report[3] - The company has not indicated any major changes in its profit forecast for the upcoming reporting period[17] - The company executed a new revenue recognition standard effective January 1, 2020, impacting the presentation of customer prepayments[39]