Financial Performance - The company's operating revenue for Q3 2022 was ¥817,349,800.43, representing a year-on-year increase of 7.77%[5] - The net profit attributable to shareholders for Q3 2022 was ¥101,263,540.97, a significant increase of 135.00% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2022 was ¥98,916,219.14, up 134.14% year-on-year[5] - The basic earnings per share for Q3 2022 was ¥0.101, reflecting an increase of 134.88% compared to the same period last year[7] - Total operating revenue for the first three quarters of 2022 reached ¥2,314,334,413.98, an increase of 6.7% compared to ¥2,168,549,796.87 in the same period of 2021[29] - Net profit for the first three quarters of 2022 was ¥224,135,878.20, a significant increase of 90.5% compared to ¥117,662,761.47 in 2021[32] - Earnings per share (EPS) for the first three quarters was ¥0.224, up from ¥0.118 in the previous year, reflecting a growth of 89.8%[34] Assets and Liabilities - The total assets at the end of the reporting period were ¥4,933,002,539.21, an increase of 6.84% from the end of the previous year[7] - The company's total current assets amounted to RMB 2,472,907,817.47, a decrease from RMB 2,784,630,801.96 as of December 31, 2021, reflecting a decline of approximately 11.2%[20] - The company's total assets reached RMB 4,933,002,539.21, compared to RMB 4,617,201,205.66 at the end of 2021, marking an increase of about 6.8%[23] - The total liabilities increased to RMB 1,258,000,000, reflecting a rise of approximately 10% compared to the previous period[23] - The total liabilities increased to ¥1,401,798,306.17 from ¥1,248,299,864.47, marking a rise of 12.3%[25] - Total equity attributable to shareholders reached ¥3,531,204,233.04, up from ¥3,368,901,341.19, representing an increase of 4.8%[25] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥386,639,795.26, showing a year-on-year increase of 67.78%[5] - In the first three quarters of 2022, the cash inflow from operating activities was approximately ¥2.57 billion, an increase of 12.3% compared to ¥2.29 billion in the same period of 2021[36] - The net cash flow from operating activities for the first three quarters of 2022 was ¥386.64 million, up from ¥230.44 million in the same period of 2021, representing a growth of 67.9%[39] - The cash outflow from investment activities in the first three quarters of 2022 was ¥1.19 billion, significantly higher than ¥449.02 million in the same period of 2021, indicating increased investment activity[39] - The net cash flow from financing activities was ¥34.46 million in the first three quarters of 2022, a recovery from a net outflow of ¥83.40 million in the same period of 2021[39] - The total cash and cash equivalents at the end of Q3 2022 were ¥886.06 million, down from ¥1.45 billion at the end of Q3 2021, reflecting a decrease of 38.9%[41] Shareholder Information - The company has a total of 34,073 common shareholders at the end of the reporting period[12] - The largest shareholder, Sichuan Jiuzhou Investment Holding Group Co., Ltd., holds 30.00% of the shares[12] Government Subsidies and Expenses - The company received government subsidies amounting to ¥3,737,336.16 during the reporting period, which are closely related to its normal business operations[11] - Research and development expenses for the first three quarters were ¥84,140,990.81, compared to ¥72,153,182.08 in the previous year, indicating a growth of 16.5%[29] - The company reported a financial expense of -¥113,031,583.24, which is a significant increase from -¥29,977,772.96 in the previous year[29] - Deferred income increased to ¥31,853,251.60 from ¥13,817,882.40, showing a growth of 130.5%[25] Production Capacity - The production capacity for the "annual production of 700,000 square meters of multi-layer printed circuit board project" commenced in Q2 2022, with good capacity release[18] Fund Utilization - The company utilized RMB 114,222.42 million of raised funds by September 30, 2022, with a net interest income of RMB 18,324.88 million[16] - The balance of the raised funds account was RMB 34,839.39 million, which includes unspent bank interest and other payments[16]

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 1,496,984,613.55, representing a 6.16% increase compared to CNY 1,410,160,417.35 in the same period last year[24]. - The net profit attributable to shareholders of the listed company reached CNY 122,872,337.23, a significant increase of 64.77% from CNY 74,571,015.03 in the previous year[24]. - The net cash flow from operating activities was CNY 261,961,902.71, which is a 71.07% increase compared to CNY 153,134,324.61 in the same period last year[24]. - Basic earnings per share for the first half of 2022 were CNY 0.123, up 64.00% from CNY 0.075 in the same period last year[24]. - The weighted average return on net assets increased by 1.36 percentage points to 3.58% compared to 2.22% in the previous year[24]. - The company reported a net profit after deducting non-recurring gains and losses of CNY 121,300,982.30, which is a 67.81% increase from CNY 72,285,518.33 in the previous year[24]. - The diluted earnings per share also stood at CNY 0.123, reflecting a 64.00% increase from CNY 0.075 in the previous year[24]. Assets and Liabilities - The total assets of the company at the end of the reporting period were CNY 4,875,386,398.32, reflecting a 5.59% increase from CNY 4,617,201,205.66 at the end of the previous year[24]. - The net assets attributable to shareholders of the listed company were CNY 3,494,041,982.61, showing a 3.71% increase from CNY 3,368,901,341.19 at the end of the previous year[24]. - The company's total assets reached CNY 4.875 billion and net assets were CNY 3.494 billion, with a debt-to-asset ratio of 28.33%, indicating strong capital strength compared to the industry average of over 40%[47]. - Total current liabilities increased to ¥1,324,466,004.26 from ¥1,210,276,340.48, a rise of approximately 9.4%[162]. - Total liabilities increased to ¥1,381,344,415.71 from ¥1,248,299,864.47, reflecting a growth of about 10.6%[164]. - Shareholders' equity increased to ¥3,494,041,982.61 from ¥3,368,901,341.19, an increase of approximately 3.7%[164]. Revenue Sources and Market Performance - The company achieved external sales revenue of 1,077.66 million RMB, with most transactions settled in USD[36]. - Revenue from the domestic market increased by 10.72% compared to the previous year, reflecting successful market expansion efforts[51]. - The average selling price of the company's products increased year-on-year, contributing to steady revenue growth[36]. - The comprehensive gross profit margin improved by 1.92 percentage points, reaching 15.50%[33]. Research and Development - R&D investment amounted to CNY 52.7743 million, representing 3.53% of the company's revenue, aimed at enhancing technological capabilities and product competitiveness[54]. - The company focuses on R&D in areas such as low loss, embedded technology, and high-frequency phase and amplitude[41]. - The company has developed 112 tested models for key projects including high-frequency antenna PCBs and BBU base station PCBs, showcasing its commitment to innovation[54]. - Research and development expenses for the first half of 2022 amounted to CNY 52,774,310.11, compared to CNY 48,470,672.51 in the previous year, marking an increase of 4.7%[176]. Environmental and Compliance Efforts - The company has established an environmental protection department to manage waste and comply with regulations[83]. - The company reported a total wastewater discharge of 1,759,003 cubic meters for the first half of 2022, significantly below the permitted limit of 5,085,000 cubic meters[91]. - The actual discharge of chemical oxygen demand was 42.941 tons in the first half of 2022, with a concentration of 24.12 mg/L, well within the regulatory limit of 50 mg/L[91]. - The company has established a comprehensive environmental risk prevention system and has maintained a 100% compliance rate for pollutant discharge during the reporting period[100]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[99]. Corporate Governance and Shareholder Relations - The company maintained good communication with investors, actively fulfilling information disclosure obligations and holding performance briefings[60]. - The company held its first extraordinary general meeting on February 16, 2022, where several proposals were approved, including the estimated daily related transactions for 2022 and the application for bank credit limits[85]. - The company has committed to a cash dividend policy that varies based on its development stage, with a minimum of 40% for mature stages with significant capital expenditures[133]. - The company will publicly disclose any unfulfilled commitments in designated publications to maintain transparency with investors[126]. Financial Management and Commitments - The company plans to optimize its capital structure and enhance R&D to improve competitiveness in response to global economic fluctuations[78]. - The company will implement a share buyback plan if any false statements or significant omissions in the prospectus are identified, with the buyback price set at the market price plus interest[130]. - The company guarantees that no more than 25% of its shares can be transferred annually during the tenure of its directors[118]. - The company will take measures against responsible personnel if commitments are not fulfilled, including salary reductions[123].

Financial Performance - The company's operating revenue for Q1 2022 was RMB 713,663,198.50, representing an increase of 11.26% compared to the same period last year[5] - The net profit attributable to shareholders was RMB 38,057,858.91, reflecting a growth of 23.05% year-over-year[5] - Total revenue for Q1 2022 reached ¥713,663,198.50, an increase of 11.25% compared to ¥641,445,619.51 in Q1 2021[29] - Net profit for Q1 2022 was ¥38,057,858.91, compared to ¥30,928,768.97 in Q1 2021, representing a growth of 22.55%[33] - The total comprehensive income for the first quarter of 2022 was CNY 37,581,312.10, an increase from CNY 31,142,087.23 in the same period of 2021, representing a growth of approximately 20.5%[34] - Basic and diluted earnings per share for the first quarter of 2022 were both CNY 0.038, compared to CNY 0.031 in the first quarter of 2021, indicating an increase of 22.6%[34] Cash Flow - The net cash flow from operating activities reached RMB 168,814,003.64, marking a significant increase of 50.74% compared to the previous year[5] - Cash inflow from operating activities totaled CNY 852,327,730.28, up from CNY 766,230,799.20 in the previous year, reflecting a growth of about 11.3%[39] - Cash outflow from operating activities was CNY 683,513,726.64, compared to CNY 654,243,406.54 in the same period last year, resulting in a net cash flow from operating activities of CNY 168,814,003.64, an increase of 50.6% year-over-year[39] - Cash inflow from financing activities was CNY 385,103,499.13, compared to a net outflow of CNY 13,580,074.69 in the same period last year, indicating a positive shift in financing activities[41] Assets and Liabilities - Total assets at the end of Q1 2022 amounted to RMB 5,105,410,381.76, which is a 10.57% increase from the end of the previous year[7] - Total assets increased to ¥5,105,410,381.76 in Q1 2022 from ¥4,617,201,205.66 in Q1 2021, marking a growth of 10.55%[28] - Total liabilities rose to ¥1,698,927,728.47 in Q1 2022, up from ¥1,248,299,864.47 in Q1 2021, indicating an increase of 36.06%[29] - The company's total current assets as of March 31, 2022, amount to 3,139,906,632.37 RMB, an increase from 2,784,630,801.96 RMB at the end of 2021[23] Shareholder Information - The total number of common shareholders at the end of the reporting period is 37,681, with the top ten shareholders holding a combined 65.4% of shares[14] - Sichuan Jiuzhou Investment Holding Group Co., Ltd. is the largest shareholder, holding 299,532,619 shares, which represents 30.00% of the total shares[14] - The second largest shareholder, Idun Investment Co., Ltd., holds 289,354,429 shares, accounting for 28.98%[14] Expenses - The company reported a 101.97% increase in sales expenses, totaling RMB 13,943,373.12, due to intensified market development efforts[11] - Research and development expenses for Q1 2022 amounted to ¥25,697,764.51, compared to ¥23,521,852.90 in Q1 2021, reflecting a growth of 9.26%[33] - The company reported a decrease in employee compensation payable to ¥39,844,816.33 from ¥43,180,320.48 in the previous year, a decline of 7.77%[29] Investment and Cash Management - The investment income for the quarter was RMB 2,147,791.96, a significant improvement compared to a loss of RMB 337,475.46 in the same period last year[11] - The company has a balance of 37,954.02 million RMB in its fundraising account, which includes accumulated but unused bank deposit interest[19] - As of March 31, 2022, the company has utilized a total of 1,105.6493 million RMB of raised funds, with a net interest income of 177.8202 million RMB from bank deposits[19] Other Financial Metrics - The weighted average return on equity rose to 1.12%, an increase of 0.19 percentage points year-over-year[5] - The company experienced a 179.32% increase in taxes payable, amounting to RMB 4,001,226.34, primarily due to increased tax obligations[11] - Deferred tax assets decreased slightly to ¥21,668,888.16 from ¥22,133,855.04, a reduction of 2.09%[28] - The total non-current assets increased to ¥1,965,503,749.39 from ¥1,832,570,403.70, showing a growth of 7.25%[28]

Dividend Distribution - The company plans to distribute a cash dividend of 0.68 RMB per 10 shares to all shareholders, based on the total share capital on the dividend distribution date [7]. - The board of directors has approved a profit distribution plan that does not involve capitalizing surplus reserves into share capital for the 2021 fiscal year [7]. - The company has cumulatively distributed cash dividends of ¥3.954 billion since its listing, exceeding 30% of the net profit attributable to shareholders each year [41]. - The company distributed a cash dividend of 1.00 yuan (including tax) for every 10 shares to all shareholders, totaling 99,844,261.1 yuan (including tax) for the 2020 profit distribution plan [194]. - The profit distribution plan was approved at the shareholders' meeting on June 2, 2021, with the implementation date set for June 17, 2021 [195]. Financial Performance - The company's operating revenue for 2021 was CNY 2,908,117,598.26, representing a 12.54% increase compared to CNY 2,583,994,444.94 in 2020 [24]. - Net profit attributable to shareholders decreased by 32.91% to CNY 150,607,764.04 from CNY 224,493,714.97 in the previous year [24]. - The net cash flow from operating activities fell by 42.54% to CNY 292,953,984.92, down from CNY 509,860,793.10 in 2020 [24]. - The total assets increased by 8.42% to CNY 4,617,201,205.66 compared to CNY 4,258,800,889.88 at the end of 2020 [24]. - Basic earnings per share decreased by 31.82% to CNY 0.15 from CNY 0.22 in 2020 [24]. - The weighted average return on net assets dropped by 1.89 percentage points to 4.50% from 6.39% in the previous year [24]. - The comprehensive gross profit margin was 13.51%, down 6.41 percentage points year-on-year [53]. - The total profit for the period was CNY 16,264.19 million, a decrease of 37.44% year-on-year [69]. - The company's total assets reached CNY 46.17 billion, with a debt-to-asset ratio of 27.04%, indicating strong capital strength [66]. Risk Management - The company reported no significant risks that could materially affect its operations during the reporting period, including global economic fluctuations and raw material price volatility [9]. - The company has established a comprehensive risk management strategy to address potential risks in its operations [9]. - The company has confirmed that there are no non-operational fund occupations by controlling shareholders or related parties [9]. - The company has not faced any violations in decision-making procedures regarding external guarantees [9]. - The company emphasizes the importance of optimizing its capital structure and enhancing fund management to mitigate risks associated with global economic fluctuations [123]. Research and Development - R&D investment amounted to ¥95.4916 million, representing 3.28% of the company's total annual revenue, with 68 new core PCB products developed in areas such as servers and MINI LED [39]. - The company is focusing on R&D in areas such as low loss, embedded technology, and high-frequency applications [60]. - The company is investing in R&D and technology innovation to maintain competitive advantages, including establishing a central research institute and collaborating with universities [118]. - The company is investing 50 million RMB in R&D for new technologies aimed at enhancing product efficiency [154]. - Research and development investments increased by 10%, focusing on innovative technologies in the electronics sector [161]. Market Position and Strategy - The company has been recognized as one of the top 100 PCB manufacturers globally and in China, reflecting its strong market position and brand recognition [44]. - The company plans to continue focusing on expanding its market presence and enhancing product offerings in response to customer demand [27]. - The company is focusing on enhancing its market share through domestic and international market development, particularly in sectors like automotive electronics and renewable energy [116]. - The company plans to achieve a revenue growth target of 10%-30% for 2022, while controlling operating costs and expenses at reasonable levels [115]. - The company is exploring potential acquisitions to enhance its product portfolio, with a budget of 100 million RMB allocated for this purpose [154]. Corporate Governance - The company has established a fair, transparent, and effective performance evaluation and incentive mechanism for its directors, supervisors, and managers, aiming to attract and stabilize outstanding management and technical personnel [132]. - The company has completed the restructuring of its supervisory board, which now consists of 3 supervisors, including 2 shareholder supervisors and 1 employee supervisor, in compliance with legal requirements [132]. - The company maintains complete independence from its controlling shareholder, with no competition in the same industry, ensuring independent business operations and decision-making capabilities [136]. - The company has implemented strict internal controls and a financial accounting system, allowing for independent financial decision-making and management [137]. - The company has a structured remuneration policy based on actual performance and contributions of its directors and senior management [168]. Operational Efficiency - The company introduced multiple automated equipment, enhancing production efficiency and quality control, achieving an advanced level of automation in the industry [40]. - The overall automation level of the company has reached an advanced level in the industry, enhancing efficiency and product quality [61]. - The company aims to improve operational efficiency, targeting a 10% reduction in costs through process optimization [152]. - Operational efficiency improvements led to a 5% reduction in costs, contributing to higher profit margins [162]. - The company emphasizes the importance of cost control and efficiency improvements through lean production and resource optimization [118]. Employee Management - The company has a total of 12 directors and supervisors, with 5 of them receiving remuneration from related parties [144]. - The company has implemented a cash dividend policy, committing to distribute at least 20% of the distributable profits as cash dividends annually, barring special circumstances [192]. - The company plans to enhance employee skills through targeted internal training programs, focusing on technical, management, and operational competencies [190]. - The employee composition includes 3,056 production staff, 91 sales personnel, 846 technical staff, 31 financial staff, and 225 administrative staff [187]. - The company has not incurred any long-term or short-term borrowings since its establishment, reflecting a solid capital structure [66]. Environmental Compliance - The company has invested a total of 56.32 million RMB in environmental protection measures to ensure compliance with regulations and minimize environmental risks [124]. - The introduction of the first water pollutant discharge standards for the electronics industry is expected to positively impact PCB manufacturers by clarifying environmental regulations [48]. - The company has continuously improved its internal control system to meet the requirements of regulatory authorities and adapt to its management needs [200]. - The company has not disclosed any significant defects in its internal control during the reporting period [200]. - The company has postponed fundraising project construction to ensure quality and sustainable development, complying with regulatory requirements [184].

Financial Performance - The company's operating revenue for Q3 2021 was ¥706,049,569.16, representing a year-on-year increase of 1.52%[7] - The net profit attributable to shareholders for Q3 2021 was ¥43,091,746.44, a decrease of 41.67% compared to the same period last year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥42,246,877.42, down 42.69% year-on-year[7] - The basic earnings per share for Q3 2021 was ¥0.05, a decrease of 37.50% compared to the same period last year[10] - The diluted earnings per share for Q3 2021 was also ¥0.05, reflecting a 37.50% decline year-on-year[10] - The weighted average return on equity for Q3 2021 was 1.30%, a decrease of 0.80 percentage points compared to the same period last year[10] - Total operating revenue for the first three quarters of 2021 reached ¥2,014,073,642.96, an increase of 12.6% compared to ¥1,788,845,941.84 in the same period of 2020[27] - Net profit for the third quarter of 2021 was ¥117,662,761.47, a decrease of 40.2% from ¥196,986,729.38 in the same quarter of 2020[34] - The total comprehensive income attributable to the parent company for the first three quarters of 2021 was CNY 117,203,609.70, a decrease from CNY 196,024,534.46 in the same period of 2020, representing a decline of approximately 40.1%[36] - Basic and diluted earnings per share for the current period were CNY 0.12, down from CNY 0.20 in the previous year, indicating a decrease of 40%[36] Assets and Liabilities - The total assets at the end of the reporting period were ¥4,514,856,816.51, an increase of 6.01% compared to the end of the previous year[10] - As of September 30, 2021, the company's total assets amounted to RMB 4,514,856,816.51, an increase from RMB 4,258,800,889.88 as of December 31, 2020, reflecting a growth of approximately 6%[21] - The total liabilities increased to ¥1,177,821,253.99 in 2021 from ¥939,124,675.96 in 2020, indicating a growth of 25.4%[26] - The total equity attributable to shareholders reached ¥3,337,035,562.52, slightly up from ¥3,319,676,213.92 in the previous year, showing a growth of 0.5%[26] - The total liabilities and equity amounted to ¥4,514,856,816.51 in 2021, compared to ¥4,258,800,889.88 in 2020, representing an increase of 6.0%[26] - Current liabilities reached approximately $906.24 million, including accounts payable of about $554.41 million and notes payable of approximately $247.58 million[44] - Total liabilities were approximately $939.12 million, with non-current liabilities accounting for about $32.88 million[46] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥230,442,452.19, down 40.32% year-on-year[10] - Net cash flow from operating activities for the first three quarters of 2021 was CNY 230,442,452.19, a decrease of 40.4% compared to CNY 386,136,553.90 in the same period of 2020[39] - Cash inflow from operating activities totaled CNY 2,116,033,868.90, slightly up from CNY 2,087,776,924.36 in the previous year, reflecting a growth of 1.4%[39] - Cash outflow from operating activities increased to CNY 1,885,591,416.71, compared to CNY 1,701,640,370.46 in the previous year, marking an increase of 10.8%[39] - The net cash flow from investing activities was negative CNY 384,677,667.04, a significant decline from a positive CNY 252,113,122.53 in the same period of 2020[39] - The cash and cash equivalents at the end of the period were CNY 1,451,213,307.62, down from CNY 1,778,750,796.09 at the end of the previous year, a decrease of approximately 18.4%[39] - The company reported a cash outflow of CNY 99,944,066.59 from financing activities, a decrease from CNY 415,903,785.56 in the previous year, indicating a reduction of 76.0%[39] Expenses and Costs - The company attributed the decline in net profit to a significant increase in raw material costs and rising operating expenses, leading to reduced gross profit[14] - Total operating costs for the first three quarters of 2021 were ¥1,868,690,767.78, up from ¥1,560,252,330.50 in 2020, reflecting a year-over-year increase of 19.7%[31] - Research and development expenses for the first three quarters of 2021 were ¥72,153,182.08, compared to ¥71,994,676.52 in 2020, indicating a marginal increase[31] - The company reported a financial expense of -¥29,977,772.96 in 2021, compared to -¥21,762,568.36 in 2020, reflecting an increase in financial costs[31] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 35,587[15] - The company utilized RMB 105,023.70 million of raised funds by September 30, 2021, with a net interest income of RMB 17,088.51 million from bank deposits[18] - The balance of the raised funds account stood at RMB 42,801.74 million, including accumulated but unused bank deposit interest[18] Other Financial Metrics - The company experienced a decrease in other comprehensive income after tax, which was -¥459,151.77 in 2021 compared to -¥962,194.92 in 2020, indicating an improvement[34] - Deferred income tax liabilities decreased to ¥14,872,226.49 from ¥16,313,599.93, a reduction of 8.8%[26] - The company reported intangible assets valued at approximately $7.13 million and deferred tax assets of about $18.19 million[44] - The company has a provision for estimated liabilities amounting to approximately $16.57 million and deferred tax liabilities of about $16.31 million[46] - The capital reserve stands at approximately $1.02 billion, contributing to the overall equity position[46] - The company has a total of approximately $5.61 million in other comprehensive income[46]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,308,024,073.80, representing a 19.63% increase compared to CNY 1,093,374,402.79 in the same period last year[22]. - Net profit attributable to shareholders decreased by 39.43% to CNY 74,571,015.03 from CNY 123,112,579.64 year-on-year[22]. - The net cash flow from operating activities was CNY 153,134,324.61, down 42.25% from CNY 265,155,531.13 in the previous year[22]. - Basic earnings per share for the reporting period were CNY 0.07, down 41.67% from CNY 0.12 in the same period last year[22]. - The company reported a decrease of 33.18% in net profit after deducting non-recurring gains and losses, amounting to CNY 72,285,518.33 compared to CNY 108,176,657.03 last year[22]. - The average selling price of products decreased by 6.97% year-on-year due to changes in product structure, despite an increase in shipment volume[31]. - The company experienced a foreign exchange loss of RMB 10.75 million during the reporting period, compared to a foreign exchange gain of RMB 11.90 million in the same period last year[31]. - The company achieved a revenue increase of 19.63% year-on-year, driven by enhanced customer relationships and the introduction of new product varieties, including small quantities of HDI for existing clients[51]. - The company reported a net profit of RMB 176.44 million for the first half of 2021 from its subsidiary, Yidun Zhongshan[72]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 4,342,940,038.79, an increase of 1.98% from CNY 4,258,800,889.88 at the end of the previous year[22]. - The net assets attributable to shareholders were CNY 3,293,845,791.64, a decrease of 0.78% from CNY 3,319,676,213.92 at the end of the previous year[22]. - Total liabilities amounted to CNY 1,118,463,491.01, compared to CNY 1,017,741,057.79 in the previous year, indicating a growth of 9.9%[167]. - The total equity decreased to CNY 2,862,469,717.17 from CNY 2,905,110,384.56, reflecting a decline of 1.5%[169]. - Current liabilities totaled ¥1,002,448,131.39, an increase from ¥906,239,688.97, reflecting a rise of about 10.5%[159]. - The total liabilities increased to ¥1,049,094,247.15 from ¥939,124,675.96, representing a growth of approximately 11.7%[159]. Research and Development - R&D investment for the reporting period was CNY 48.47 million, accounting for 3.71% of the company's total annual revenue, with two new utility model patents granted[51]. - The company has developed advanced technologies, including 5G high-frequency circuit board technology and high-density interconnect (HDI) boards, to maintain its technological leadership in the industry[51]. - Research and development expenses for the first half of 2021 were CNY 48,470,672.51, slightly up from CNY 47,477,542.89, indicating a focus on innovation[172]. Market and Industry Outlook - The PCB industry is projected to grow, with China's PCB output value expected to reach approximately USD 46.12 billion by 2025, reflecting a compound annual growth rate of 5.6% from 2020 to 2025[33]. - The PCB industry is expected to grow by 14.0% in 2021, up from a previous forecast of 8.6%, reflecting a positive market outlook[49]. - The automotive industry in China is expected to see sales exceed 26 million units in 2021, with a significant demand for PCBs driven by the new four modernizations (intelligent, electric, connected, and shared)[36]. Environmental Management - The company reported a total wastewater discharge of 1,717,104 cubic meters for the half-year period, significantly lower than the permitted discharge of 5,085,000 cubic meters[90]. - The actual emissions of chemical oxygen demand (COD) were 44.289 tons for the half-year, compared to the approved total emission limit of 254.25 tons per year[89]. - The company achieved a 100% compliance rate for environmental monitoring indicators during the reporting period[101]. - The company has invested in a nickel wastewater treatment system, which began testing in the first half of 2021, aiming to reduce hazardous waste and lower treatment costs[104]. - The company has established an ISO 14001:2015 environmental management system, ensuring effective operation and compliance with environmental regulations[101]. Shareholder Commitments and Governance - The company guarantees to strictly fulfill its commitments disclosed in the prospectus and will publicly explain any failure to do so[115]. - The company will compensate investors for losses incurred due to unfulfilled commitments by the controlling shareholder[115]. - The company has committed to not transferring more than 25% of its shares during its tenure and not transferring any shares within six months after leaving the position[110]. - The controlling shareholder, Yidun Investment, is allowed to reduce its holdings after the lock-up period, with a maximum reduction of 20% within two years[112]. - The company will disclose specific reasons for any failure to fulfill commitments and propose supplementary or alternative commitments to protect investor rights[115]. Operational Efficiency - The company has implemented strict production management and cost control measures, optimizing production processes to reduce costs effectively[39]. - The company has increased its automation level by adding multiple new machines, enhancing production efficiency and quality control[52]. - The company plans to continue enhancing its internal control systems to improve operational efficiency and risk management[55]. Community Engagement - The company emphasizes the creation of social value and actively participates in social welfare activities, supporting local education, culture, science, health, and poverty alleviation[106]. - The company has organized community service activities to assist local impoverished households, contributing to social development[106]. - The company has undertaken to support local poverty alleviation efforts and promote economic development in the community[106].

Financial Performance - The company's operating revenue for Q1 2021 increased by 12.34% year-on-year, reaching CNY 599,471,395.90[11] - The net profit attributable to shareholders decreased by 64.45% compared to the same period last year, amounting to CNY 30,928,768.97[11] - Basic earnings per share dropped by 66.67% to CNY 0.03[11] - Total operating revenue for Q1 2021 was $599.47 million, an increase of 12.3% compared to $533.63 million in Q1 2020[43] - Net profit for Q1 2021 was $30.93 million, a decrease of 64.5% from $87.01 million in Q1 2020[45] - The company achieved a total comprehensive income of $31.14 million in Q1 2021, compared to $87.73 million in Q1 2020, marking a decline of 64.6%[45] Cash Flow - The net cash flow from operating activities decreased by 44.09% year-on-year, totaling CNY 111,987,392.66[11] - The cash inflow from operating activities was CNY 725,782,859.55, a decrease of 6.7% compared to CNY 777,636,714.39 in Q1 2020[53] - The cash inflow from investment activities was CNY 54,460,731.44, significantly lower than CNY 252,367,873.16 in Q1 2020[57] - The net cash flow from investment activities was CNY 5,708,121.16, compared to a negative CNY 79,627,795.83 in the previous year[57] - The total cash inflow from operating activities was CNY 672,418,527.40, slightly down from CNY 680,393,791.66 in Q1 2020[61] Assets and Liabilities - The total assets at the end of the reporting period were CNY 4,272,691,822.88, reflecting a slight increase of 0.33% from the previous year[11] - Total liabilities decreased to ¥921,873,521.73 from ¥939,124,675.96, a reduction of approximately 1.3%[36] - Total equity increased to ¥3,350,818,301.15 from ¥3,319,676,213.92, reflecting a growth of about 0.9%[36] - Cash and cash equivalents rose to ¥1,398,651,509.51 from ¥1,376,829,028.24, an increase of approximately 1.6%[36] - Accounts receivable decreased to ¥783,482,196.92 from ¥811,100,762.07, a decline of about 3.4%[36] Costs and Expenses - The total operating costs for Q1 2021 were $564.86 million, up 27.3% from $443.81 million in Q1 2020[43] - The company faced significant increases in raw material procurement prices, leading to delayed product price adjustments[11] - The company reported a significant decrease in employee compensation payable, which was ¥31,414,840.74 in Q1 2021, down 31.30% from ¥45,730,645.10 in Q1 2020[18] - Financial expenses showed a significant improvement, with a net income of -$14.42 million in Q1 2021 compared to -$27.05 million in Q1 2020[43] - Tax expenses decreased to $5.93 million in Q1 2021 from $16.08 million in Q1 2020, reflecting a 63.1% reduction[45] Shareholder Information - The total number of shareholders at the end of the reporting period was 37,245[14] - The largest shareholder, Yidun Investment Co., Ltd., held 63.41% of the shares[14] Future Outlook - The company anticipates a significant decline in cumulative net profit compared to the previous year due to rising raw material costs and potential foreign exchange losses[22]

Financial Performance - The company's operating revenue for 2020 was approximately ¥2.45 billion, a decrease of 18.59% compared to ¥3.01 billion in 2019[26]. - Net profit attributable to shareholders was approximately ¥224.49 million, down 56.70% from ¥518.49 million in the previous year[26]. - The basic earnings per share for 2020 was ¥0.22, a decline of 57.69% from ¥0.52 in 2019[27]. - The weighted average return on equity decreased to 6.39%, down 5.78 percentage points from 12.17% in 2019[27]. - The net cash flow from operating activities was approximately ¥509.86 million, a decrease of 35.40% compared to ¥789.28 million in 2019[26]. - The company's total assets at the end of 2020 were approximately ¥4.26 billion, down 3.08% from ¥4.39 billion at the end of 2019[26]. - The company's total revenue for the reporting period was CNY 2,451,037,194.63, a year-on-year decrease of 18.59%[68]. - The net profit for the period was CNY 22,449,370, a decrease of 56.70% compared to the previous year[70]. - The company's R&D investment amounted to CNY 98,701,842.54, accounting for 4.03% of the total annual revenue[68]. - The company achieved a gross margin of 21.54% in the printed circuit board industry, a decrease of 6.48 percentage points year-on-year[73]. Dividend Policy - The company proposed a cash dividend of 1.00 RMB per 10 shares for the 2020 fiscal year, totaling approximately 119.81 million RMB distributed in the first half of 2020[7]. - The cash dividend policy stipulates that the company will distribute no less than 20% of the distributable profits as cash dividends annually, barring special circumstances[134]. - In 2020, the company distributed a cash dividend of 3.50 yuan per 10 shares for the 2019 fiscal year, totaling approximately 349.45 million yuan[136]. - For the first half of 2020, the company distributed a cash dividend of 1.20 yuan per 10 shares, amounting to approximately 119.81 million yuan[136]. - The proposed cash dividend for the 2020 fiscal year is set at 1.00 yuan per 10 shares, with no capital reserve conversion planned[140]. - In 2020, the cash dividends distributed represented 97.85% of the net profit attributable to ordinary shareholders[140]. - The company has completed the profit distribution plan for both the 2019 and 2020 semi-annual periods as per the established guidelines[135]. Operational Challenges - The company faced a significant impact from the COVID-19 pandemic, leading to delayed or reduced customer orders[27]. - The company reported a decrease in production volume and capacity utilization, contributing to a decline in gross profit margin[42]. - The company’s net profit for the reporting period was significantly affected by increased fixed costs per unit due to lower production levels[42]. - In the reporting period, the company's sales volume decreased by 18.59% year-on-year due to the impact of COVID-19, and the average selling price of products in RMB fell by 3.07%[44]. - The company incurred a foreign exchange loss of 64.92 million RMB during the reporting period, compared to a foreign exchange gain of 17.95 million RMB in the same period last year[44]. Market Position and Strategy - The company continues to focus on high-precision, high-density printed circuit board manufacturing, serving various industries including automotive electronics and consumer electronics[38]. - The global PCB market value reached 65.219 billion USD in 2020, accounting for over 20% of the total electronic components market, indicating significant growth potential in high-growth areas such as 5G and automotive electronics[46]. - The company has established itself as a leading brand in the PCB industry, recognized by major clients and industry associations, and has been included in the top PCB manufacturers globally[49]. - The company has developed several core technologies, including ultra-thin board technology and 5G high-frequency board applications, enhancing its product quality and competitiveness[54]. - The company maintains a diverse and stable customer base, including major clients like Huawei and Continental, which strengthens its market position[55]. - The company plans to strengthen its research and development investments to maintain a leading position in technology and product quality, focusing on high-end PCB products[118]. Corporate Governance and Compliance - The company’s board of directors and supervisory board members confirmed the accuracy and completeness of the annual report[5]. - The company has a clear and compliant profit distribution policy, ensuring transparency and protection for minority investors[135]. - The company has established a comprehensive corporate governance structure and internal control system to ensure fair and transparent treatment of all shareholders, holding two shareholder meetings during the reporting period[194]. - The company implemented a full labor contract system, strictly adhering to labor laws and regulations to protect employee rights and benefits[195]. - The company has a performance evaluation system for senior management, linking their compensation to the achievement of annual operational targets[196]. Social Responsibility - The company allocated 51.10 million to support 245 students from impoverished families through its education fund, demonstrating commitment to social responsibility[189]. - The total funding for poverty alleviation efforts amounted to 51.60 million, with no recorded cases of poverty alleviation through direct assistance[190]. - The company plans to continue its education poverty alleviation initiatives, leveraging its resource advantages to enhance support for underprivileged students[191]. - The company is committed to enhancing its social responsibility initiatives, focusing on education and community support[192]. Risk Management - The company reported no significant risks affecting its operations during the reporting period, including global economic fluctuations and raw material price volatility[11]. - The company has strong cost management capabilities to mitigate the impact of raw material price fluctuations on its profitability[128]. - The company is sensitive to exchange rate fluctuations, particularly the USD/RMB exchange rate, which affects its profit margins[129]. - The company emphasizes environmental protection and has established measures to ensure compliance with environmental regulations[130]. - The company's environmental investment amounted to 81.799 million yuan during the reporting period[132]. Future Outlook - The company aims for a revenue growth of 10%-30% year-on-year in 2021, while controlling operating costs and expenses at reasonable levels[117]. - The PCB industry is expected to benefit from the growth of downstream electronic information industries and the acceleration of new technologies such as 5G and AI[94]. - The PCB industry is anticipated to experience significant market expansion and demand growth due to technological advancements and the ongoing shift towards smart, electric, connected, and shared vehicles[95]. - The global PCB industry is projected to achieve a compound annual growth rate (CAGR) of 5.8% from 2020 to 2025, with Asia maintaining over 93% of the total global PCB production value[110].

Financial Performance - Net profit attributable to shareholders was CNY 196,986,729.38, down 55.38% year-on-year[17] - Operating revenue for the first nine months was CNY 1,788,845,941.84, a decrease of 20.96% compared to the same period last year[17] - Basic earnings per share for the third quarter were CNY 0.20, a decrease of 54.55% compared to the previous year[17] - Total operating revenue for Q3 2020 was ¥695,471,539.05, a decrease of 14.7% compared to ¥815,771,327.10 in Q3 2019[51] - Net profit for Q3 2020 was ¥73,874,149.74, a decline of 57.8% from ¥175,015,978.70 in Q3 2019[55] - The total profit for Q3 2020 was ¥88,111,012.65, down from ¥207,611,128.47 in Q3 2019, indicating a significant drop in profitability[55] - The company reported a total profit of approximately ¥69.01 million for the third quarter, a decrease of 63.7% from ¥189.89 million in the same quarter last year[63] Cash Flow - The net cash flow from operating activities for the first nine months was CNY 386,136,553.90, down 34.20% year-on-year[17] - Cash inflow from operating activities for the first three quarters of 2020 was CNY 2,025,658,281.88, a decrease of 26.6% compared to CNY 2,757,302,547.13 in the same period of 2019[71] - Net cash flow from operating activities was CNY 350,479,888.94, down 52.2% from CNY 732,945,984.85 year-on-year[71] - Cash inflow from investment activities totaled CNY 1,462,565,896.48, compared to CNY 1,776,398,398.11 in the previous year, reflecting a decrease of 16.4%[74] - Investment activities generated a net cash flow of approximately ¥252.11 million, down 56.9% from ¥584.11 million year-over-year[69] Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,280,595,257.05, a decrease of 2.58% compared to the end of the previous year[17] - The company's total liabilities increased by 5.56% to ¥2.12 billion, with accounts payable rising significantly by 18.57%[37] - Total current liabilities increased to ¥849,993,894.35 from ¥811,265,048.63, reflecting a growth of approximately 4.5%[42] - Total assets decreased to ¥3,996,651,011.33 from ¥4,177,490,238.44, representing a decline of approximately 4.3%[49] - Total liabilities amounted to ¥827,733,889.75, with current liabilities at ¥811,265,048.63[80] Government Subsidies and Other Income - The company received government subsidies amounting to CNY 12,499,778.22 for the first nine months, which are closely related to its normal business operations[21] - The company received CNY 1,450,000,000.00 from investment recoveries, down from CNY 1,750,000,000.00 in the previous year[71] Shareholder Information - The total number of shareholders at the end of the reporting period was 41,094, with the largest shareholder holding 63.41% of the shares[22] Cost Management and Efficiency - The company is focusing on improving operational efficiency and cost management in response to declining revenues and profits[51] - Total operating costs for Q3 2020 were ¥604,163,380.63, slightly down from ¥606,250,426.20 in Q3 2019, indicating a cost management strategy[51] - Research and development expenses for Q3 2020 were ¥24,517,133.63, a decrease of 12.4% compared to ¥27,863,970.22 in Q3 2019, reflecting a focus on cost efficiency[51] Foreign Exchange and Financial Losses - The company experienced a foreign exchange loss of CNY 32,871,100 in the third quarter, with cumulative losses of CNY 20,970,300 for the first nine months, an increase of 168.95% year-on-year[20] - The company anticipates a significant decline in cumulative net profit compared to the same period last year due to high overseas sales exposure and potential exchange rate losses[32] Accounting Standards and Compliance - The company executed the new revenue recognition standards starting January 1, 2020, impacting the financial statements[83] - The company implemented the revised Accounting Standards for Revenue starting January 1, 2020, affecting the cumulative impact on retained earnings and related financial statement items[90] - The company has not made any retrospective adjustments to prior period data as a result of the new standards[90] - The company has confirmed that the new revenue standards do not require adjustments to prior financial statements[90] - The company is in compliance with the Ministry of Finance's regulations regarding the new accounting standards[90]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 1,093,374,402.79, a decrease of 24.46% compared to the same period last year[21]. - The net profit attributable to shareholders for the first half of 2020 was CNY 123,112,579.64, down 53.79% year-on-year[21]. - The net cash flow from operating activities was CNY 265,155,531.13, a decline of 34.79% compared to the previous year[21]. - The basic earnings per share for the first half of 2020 was CNY 0.12, a decrease of 55.56% from CNY 0.27 in the same period last year[21]. - The company reported a decrease of 56.80% in net profit attributable to shareholders after deducting non-recurring gains and losses, amounting to CNY 108,176,657.03[21]. - Net profit for the reporting period was 123.11 million RMB, down 53.79% year-on-year, primarily due to reduced revenue and fixed costs not decreasing accordingly[30]. - Operating revenue decreased by 24.46% to ¥1,093,374,402.79 from ¥1,447,479,353.81 in the same period last year[56]. - Total revenue for the first half of 2020 was 60,173.99 million RMB, a decrease of 18.34% compared to the previous period[71]. - The company reported a net profit of 20,097.87 million RMB for the first half of 2020, with a significant decline expected in cumulative net profit compared to the same period last year due to external factors[74]. Cash Flow and Investments - The company reported a 201.81% decrease in net cash flow from financing activities, resulting in a negative cash flow of ¥15,460,751.08 compared to a positive cash flow of ¥15,186,339.70 last year[56]. - Cash and cash equivalents increased to CNY 1,781,473,458.74 as of June 30, 2020, compared to CNY 1,352,403,764.84 at the end of 2019, reflecting a growth of 31.7%[171]. - The ending balance of cash and cash equivalents was ¥1,951,911,464.34, down from ¥2,703,835,849.23 at the end of the previous period[195]. - Cash paid to employees decreased to ¥243,916,070.59 from ¥274,670,838.07, reflecting a reduction of 11.2%[193]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 4,442,846,707.05, an increase of 1.11% from the end of the previous year[21]. - The total liabilities decreased to CNY 751,620,477.07 from CNY 827,733,889.75, showing a reduction of approximately 9.2%[167]. - The equity attributable to shareholders increased to ¥3,691,226,229.98, up from ¥3,566,414,428.75, marking an increase of around 3.5%[167]. - The company's accounts receivable decreased to ¥777,090,436.94 from ¥969,708,269.31, a decline of approximately 19.8%[162]. - The company's inventory increased to ¥295,778,795.86 from ¥274,568,732.68, representing a growth of about 7.7%[162]. Operational Challenges - The company faced challenges due to the global spread of COVID-19, resulting in delayed orders and reduced order volume[21]. - The company reported a slight increase in raw material prices during the reporting period, impacting overall production costs[30]. - The company has a high proportion of overseas sales, which may be impacted by the ongoing COVID-19 pandemic, potentially leading to reduced product shipments and export orders[75]. Research and Development - R&D investment for the reporting period was CNY 47.48 million, representing 4.34% of the company's revenue for the first half of the year[47]. - The company added 7 new patents during the reporting period, including 6 utility model patents and 1 invention patent[50]. - Research and development expenses decreased by 8.93% to ¥47,477,542.89 from ¥52,135,603.59 in the same period last year[56]. Environmental and Social Responsibility - The company invested a total of 33.89 million RMB in environmental protection measures during the reporting period[78]. - The company emphasizes the importance of environmental management and has established a dedicated department for environmental protection[78]. - The company achieved a 100% compliance rate in pollution discharge monitoring during the reporting period[126]. - The company has invested in wastewater treatment facilities, increasing treatment capacity to 15,000 m³/d for the first phase and 3,000 m³/d for the second phase[130]. Shareholder Commitments - The controlling shareholder, Yidun Investment, plans to reduce its shareholding by up to 20% within two years after the lock-up period ends, which is set to expire on June 30, 2022[88]. - The company commits to distributing at least 20% of its distributable profits as cash dividends annually, with a minimum of 80% during mature stages without major capital expenditures[103]. - The company will implement a share buyback plan within 30 trading days if any false statements or omissions in the prospectus are confirmed by regulatory authorities[100].