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].

Financial Performance - In 2019, the company's operating revenue was CNY 3,010,713,760.59, a decrease of 9.55% compared to CNY 3,328,616,224.30 in 2018[22] - The net profit attributable to shareholders was CNY 518,487,302.82, down 20.72% from CNY 654,010,305.61 in the previous year[22] - The net cash flow from operating activities increased by 18.71% to CNY 789,281,735.44, compared to CNY 664,859,636.90 in 2018[22] - Basic earnings per share decreased by 21.21% to CNY 0.52 compared to the previous year[23] - The net profit margin for the year was 17.22%, down by 2.43 percentage points from the previous year[36] - The total profit amounted to CNY 61,038,990, a decrease of 20.75% compared to the previous year[57] - Net profit for the period was CNY 51,848,730, reflecting a 20.72% decline year-on-year[57] - The gross profit margin for the main business was 28.02%, a decrease of 2.52 percentage points compared to the previous year[62] Assets and Liabilities - As of the end of 2019, total assets were CNY 4,394,148,318.50, a decrease of 18.76% from CNY 5,408,561,519.78 at the end of 2018[22] - The company's net assets attributable to shareholders decreased by 20.18% to CNY 3,566,414,428.75 from CNY 4,468,311,467.68 in 2018[22] - The total liabilities reduced by 11.97% to CNY 82,773,390[57] - The company's asset-liability ratio rose from 17.38% at the end of 2018 to 18.84% at the end of 2019[178] Dividends - The company proposed a cash dividend of CNY 3.50 per 10 shares for the 2019 fiscal year, subject to shareholder approval[5] - For the first half of 2019, the company distributed a cash dividend of CNY 7.50 per 10 shares, totaling CNY 748,672,530.75[5] - Cash dividends distributed in 2019 totaled CNY 1.447 billion, with cumulative cash dividends since listing reaching CNY 3.385 billion[54] - The cash dividend policy stipulates that the company will distribute no less than 20% of the distributable profit as cash dividends annually, barring special circumstances[104] Operational Risks - The company reported no significant operational risks that could materially affect its business during the reporting period[8] - The company has outlined various risks it may face, including global economic fluctuations and raw material price volatility[8] - The company did not experience any non-operational fund occupation by controlling shareholders or related parties[7] Research and Development - Research and development expenses were CNY 112,917,638.49, an increase of 3.98% from the previous year[59] - The total number of R&D personnel is 567, making up 10.31% of the company's total workforce[68] - The company plans to enhance automation and invest in R&D to improve product yield rates moving forward[37] Market Position and Strategy - The company aims to increase the share of high-value-added PCBs in automotive, medical, and industrial sectors to improve order quality[51] - The company successfully introduced 5G board orders, and the keyboard PCB, medical, and industrial control PCB businesses performed well, despite a year-on-year revenue decline of 9.55% due to reduced orders from clients transitioning to new products[51] - The company has established stable relationships with major clients, including well-known companies such as Huawei and Jabil, which enhances its market foundation[46] - The company focuses on continuous technological innovation and improvement of its R&D capabilities to enhance its competitive strength in the PCB market[51] Environmental and Social Responsibility - The company has implemented a comprehensive environmental management system, achieving ISO 14001:2015 certification, with a 100% compliance rate in pollution discharge monitoring[152] - The company has invested in pollution control facilities, increasing wastewater treatment capacity to 15,000 m³/d and enhancing the efficiency of existing systems[155] - The company has actively participated in social responsibility initiatives, providing 530,000 RMB in scholarships to 260 students in need[151] - The company has committed to improving the quality of education resources in impoverished areas, although no specific funding has been allocated for this purpose[143] Shareholder and Management Commitments - The controlling shareholder committed to not transferring or entrusting others with their shares for 36 months from the date of the company's IPO[111] - The company guarantees that it does not operate or plan to operate any competing business that could harm its main operations[113] - The company will ensure that any profits gained from unfulfilled commitments will be returned to the issuer[117] - The company has established a framework for accountability among its executives regarding the fulfillment of commitments[117] Future Outlook - The company aims for a revenue growth target of 0% to 20% for 2019, but actual revenue decreased by 9.55% to CNY 3,010.71 million due to reduced orders from downstream customers[91] - The company plans to enhance product development and technical innovation to maintain competitive advantages in the mid-to-high-end PCB market[92] - The company intends to seek acquisitions in the industry to expand its scale, product range, and market share when conditions are favorable[95]

2020 年第一季度报告 公司代码：603328 公司简称：依顿电子 广东依顿电子科技股份有限公司 2020 年第一季度报告 1 / 23 2020 年第一季度报告 一、 二、 11Í 四、 目录 | --- | |--------------| | | | 重要提示 | | 公司基本情况 | | 重要事项 | | 附录 | 2 / 23 2020 年第一季度报告 单位：元 币种：人民币 一、 重要提示 4.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 4.2 公司全体董事出席董事会审议季度报告。 4.3 公司负责人李永强、主管会计工作负责人金鏖及会计机构负责人（会计主管人员）吴境乐保 证季度报告中财务报表的真实、准确、完整。 4.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |------------------------------------------------|------------------|---- ...

Financial Performance - Net profit attributable to shareholders was CNY 441,447,561.00, down 7.75% year-on-year[17] - Operating revenue for the first nine months was CNY 2,263,250,680.91, a decline of 6.27% compared to the same period last year[17] - Basic earnings per share decreased by 8.33% to CNY 0.44[17] - Total operating revenue for Q3 2019 was ¥815,771,327.10, a decrease of 10% compared to ¥906,046,858.59 in Q3 2018[48] - Net profit for Q3 2019 was ¥175,015,978.70, a decline of 20% from ¥219,645,522.86 in Q3 2018[51] - Total profit for Q3 2019 was ¥207,611,128.47, compared to ¥259,598,680.12 in Q3 2018, reflecting a decrease of approximately 20%[51] - Net profit for the first three quarters of 2019 was ¥399.01 million, a decrease of 8.63% compared to ¥436.77 million in the same period of 2018[60] - The total profit for Q3 2019 was ¥189.89 million, a decrease of 23.39% from ¥248.15 million in Q3 2018[60] Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,280,903,037.40, a decrease of 20.85% compared to the end of the previous year[17] - The company reported a decrease in net assets attributable to shareholders by 21.91% to CNY 3,489,253,468.90 compared to the previous year[17] - The company's financial assets decreased by 74.06% to ¥25,109.07 million due to the maturity of financial products[25] - Total liabilities decreased from $940.25 million to $791.65 million, reflecting a decline of about 16%[37] - Total assets decreased from $5.25 billion to $4.11 billion, a decrease of approximately 22%[44] - Total liabilities reached ¥940,250,052.10, while total equity was ¥4,468,311,467.68[78] - Total current liabilities decreased from $923.86 million to $775.36 million, a reduction of approximately 16%[37] Cash Flow - Net cash flow from operating activities increased by 15.54% to CNY 586,791,946.15 for the first nine months[17] - The net cash flow from investment activities was ¥58,411.06 million, a significant increase of 163.64% compared to the previous period[25] - Cash inflow from investment activities for the first three quarters of 2019 was ¥1.79 billion, compared to ¥1.22 billion in the same period of 2018[65] - The company recorded a net cash flow from operating activities of ¥2.70 billion for the first three quarters of 2019, up from ¥2.62 billion in the same period of 2018[65] - Cash outflow for financing activities increased to CNY 1,454,985,702.52 from CNY 867,488,711.16, leading to a net cash flow of CNY -1,423,317,399.91[70] Shareholder Information - The total number of shareholders at the end of the reporting period was 35,221, with the largest shareholder holding 69.52% of the shares[20] - The company has no known related party transactions among the top ten shareholders[22] Other Financial Metrics - The weighted average return on equity rose by 1.04 percentage points to 9.72%[17] - Non-operating income for the first nine months totaled CNY 19,155,467.18, with significant contributions from government subsidies and fair value changes of financial assets[20] - The company's other income decreased by 49.43% to ¥358.03 million, mainly due to a reduction in government subsidies[25] - The company reported a credit impairment loss of ¥507.12 million, attributed to the implementation of new financial instrument standards[25] - R&D expenses for Q3 2019 amounted to ¥27,863,970.22, slightly up from ¥27,252,932.82 in Q3 2018[48]