证券代码：603773 证券简称：沃格光电 公告编号：2023-072 江西沃格光电股份有限公司 关于召开 2023 年半年度业绩说明会的公告 会议召开时间：2023 年 09 月 05 日(星期二) 下午 15:00-16:30 会议召开地点：上海证券交易所上证路演中心（网址： 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心视频录播和网络互动 投资者可于 2023 年 08 月 29 日(星期二) 至 09 月 04 日(星期一)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 mail@wgtechjx.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行 回答。 江西沃格光电股份有限公司（以下简称"公司"）已于 2023 年 8 月 7 日发布 公司 2023 年半年度报告，为便于广大投资者更全面深入地了解公司 2023 年上半 年度经营成果、财务状况，公司计划于 2023 年 09 ...

证券代码：603773 证券简称：沃格光电 公告编号：2023-070 江西沃格光电股份有限公司 关于 2023 年股票期权与限制性股票激励计划 股票期权首次授予登记完成的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 根据《上市公司股权激励管理办法》（以下简称"《管理办法》"）、上海 证券交易所、中国证券登记结算有限责任公司上海分公司（以下简称"中登上海 分公司"）的相关规定，江西沃格光电股份有限公司（以下简称"公司"）于 2023 年 8 月 7 日在中登上海分公司办理完成公司 2023 年股票期权与限制性股票激励 计划（以下简称"本次激励计划"、"激励计划"）首次授予股票期权所涉及权 益的登记工作。现将有关情况公告如下： 一、本次激励计划已履行的决策程序和信息披露情况 象的姓名和职务进行了公示。在公示期间，公司监事会未接到任何人对公司本次 拟激励对象名单提出的异议。公司于 2023 年 6 月 19 日披露了《监事会关于公司 2023 年股票期权与限制性股票激励计划首次授予激励对象名单的核查意 ...

Financial Performance - The company reported a half-year revenue of 1.2 billion RMB, representing a 15% increase compared to the same period last year[1]. - The company's revenue for the first half of 2023 was ¥775.38 million, representing a 4.01% increase compared to ¥745.49 million in the same period last year[23]. - The net profit attributable to shareholders was a loss of ¥11.32 million, a decline of 128.86% from a loss of ¥4.95 million in the previous year[23]. - The net cash flow from operating activities improved significantly to ¥82.91 million, compared to a negative cash flow of ¥99.99 million in the same period last year, marking a 182.91% increase[23]. - The gross profit margin improved to 35%, up from 30% in the previous year, indicating better cost management[1]. - The company achieved operating revenue of ¥775,377,020.44, representing a year-on-year growth of 4.01%[62]. - Operating costs increased by 7.67% to ¥625,080,956.85 compared to the previous year[68]. - The net profit decreased by 85.77% to ¥1,163,579.17, significantly impacted by intensified competition in the LCD panel industry[68]. - The net profit for the reporting period decreased compared to the same period last year, influenced by exchange rate fluctuations leading to increased foreign exchange losses[70]. - The company reported a significant increase in financial expenses by 633.55% due to increased borrowing costs and foreign exchange losses[68]. Market Expansion and Strategy - The company expects a revenue growth forecast of 10% for the next quarter, driven by new product launches and market expansion strategies[1]. - The company is planning to expand its market presence in Southeast Asia, targeting a 25% market share within the next two years[1]. - The company plans to expand its market presence and enhance its operational efficiency through strategic initiatives and potential mergers and acquisitions[23]. - Future strategies include expanding into new markets and enhancing product offerings in the optoelectronic sector[75]. - The company aims to diversify its customer base to mitigate risks associated with customer concentration and enhance revenue from other clients[108]. Research and Development - Research and development efforts have led to the introduction of two new products, which are projected to contribute an additional 200 million RMB in revenue[1]. - The company is focusing on the development of new technologies and products, including advanced display technologies such as Mini LED and Micro LED[23]. - The company has developed glass-based IC packaging substrates with a minimum hole diameter of 10μm and thickness as low as 0.09-0.2mm, showcasing its leading technology in TGV (Through Glass Via) technology[41]. - The company has established a stable and efficient R&D team, focusing on key projects like In-Cell anti-interference high-resistance coating technology to enhance its technological capabilities[110]. - The company plans to build a new R&D center and improve its R&D conditions, with an emphasis on developing new technologies such as 3D glass cover and back panels, which are already in small-scale production[110]. Legal and Compliance - The company is currently involved in multiple legal disputes, with significant amounts owed by various parties, including a claim against Sichuan Shuangyu Technology Co. for over RMB 900,000[156]. - The company has committed to cooperate with Woge Optoelectronics to eliminate or regulate related party transactions, ensuring compliance with market fair pricing[153]. - The company has not reported any major litigation or arbitration matters that are unresolved, indicating a stable legal standing[155]. - The company is focused on maintaining compliance with relevant laws and regulations, particularly regarding share transfers and related party transactions[153]. Environmental Compliance - The company has met environmental discharge standards for various pollutants, including chemical oxygen demand and ammonia nitrogen[97]. - The company has implemented a robust environmental monitoring system, ensuring compliance with national and local pollution discharge standards, with no environmental pollution incidents reported during the reporting period[99]. - The company has established an emergency response plan for environmental incidents, which was practiced on March 30, 2023, to enhance its response capabilities[101]. Shareholder and Governance - The company has a comprehensive technical confidentiality and prevention system in place, but still faces risks of technology loss or leakage due to personnel changes[84]. - The company has committed to measures to compensate for the dilution of immediate returns from its public offering, ensuring shareholder value is maintained[106]. - The controlling shareholder has committed to not using their position to harm the interests of the company or its shareholders[149]. - The company will ensure that any related party transactions are disclosed and comply with relevant laws and regulations[150]. Operational Efficiency - The company is enhancing its operational capabilities through systematic and information-based construction, allowing for rapid response to customer needs and flexible production adjustments[57]. - The company is committed to improving internal control systems and cost management to enhance operational efficiency and profitability[111]. - The company has developed a profit distribution policy to ensure reasonable and stable returns for investors, with plans to solicit feedback from independent directors and shareholders[114].

Event Details - The event will be held online via the "Panorama Roadshow" website, WeChat official account: Panorama Finance, or the Panorama Roadshow APP [2] - Event date and time: May 19, 2023 (Friday), 15:30-17:00 [2] Company Participation - Jiangxi Woguang Optoelectronics Co., Ltd. will participate in the "2023 Jiangxi Listed Companies Investor Collective Reception Day" [2] - The event is jointly organized by the Jiangxi Securities Regulatory Bureau, the Jiangxi Listed Companies Association, and Shenzhen Panorama Network Co., Ltd. [2] Interaction Topics - Company executives will communicate with investors on topics such as 2022 annual performance, corporate governance, development strategies, and operational status [2] Purpose - The event aims to strengthen interaction and communication with investors [2]

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 证券代码：603773 证券简称：沃格光电 公告编号：2023-036 江西沃格光电股份有限公司 关于召开 2022 年度业绩说明会的公告 （网址：http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心视频录播和网络互动 投资者可于 2023 年 05 月 15 日(星期一) 至 05 月 19 日(星期五)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 mail@wgtechjx.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行 回答。 江西沃格光电股份有限公司（以下简称"公司"）已于 2023 年 4 月 27 日发 布公司 2022 年度报告，为便于广大投资者更全面深入地了解公司 2022 年度经营 成果、财务状况，公司计划于 2023 年 05 月 22 日上午 10:00-11:30 举行 2022 年度业绩说明会，就投资者关心的问题进行交流。 一、 说明会类型 本次投资者说明 ...

Financial Performance - The company reported a loss for the fiscal year 2022 and will not distribute profits or increase capital reserves due to this performance [5]. - The company's operating revenue for 2022 was CNY 1,398,681,082.76, representing a 33.21% increase compared to CNY 1,049,995,306.70 in 2021 [25]. - The net profit attributable to shareholders for 2022 was a loss of CNY 328,247,730.23, a significant decline from a loss of CNY 26,862,904.82 in 2021, marking a decrease of 1,121.94% [25]. - The basic earnings per share for 2022 was -CNY 2.0195, compared to -CNY 0.1692 in 2021, reflecting a decrease of 1,093.34% [27]. - The total assets at the end of 2022 were CNY 2,605,370,387.87, a decrease of 23.60% from CNY 3,220,329,187.39 at the end of 2021 [26]. - The net cash flow from operating activities for 2022 was -CNY 172,735,584.39, a decline of 289.79% compared to CNY 91,015,280.30 in 2021 [25]. - The company reported a net asset attributable to shareholders of CNY 1,375,784,656.76 at the end of 2022, down 10.18% from CNY 1,531,730,778.39 at the end of 2021 [26]. Audit and Compliance - The company received a standard unqualified audit report from Zhongqin Wanxin Accounting Firm [4]. - The board of directors and management confirm the accuracy and completeness of the annual report, with no false records or misleading statements [9]. - The company has not violated decision-making procedures for external guarantees [8]. - There are no non-operational fund occupations by controlling shareholders or related parties [7]. Strategic Focus and Future Plans - The company emphasizes that future plans and strategies mentioned in the report do not constitute a commitment to investors, highlighting investment risks [6]. - The company is focused on long-term development goals while considering short-term operational realities [5]. - The company has a commitment to maintaining shareholder long-term interests despite the current financial losses [5]. - The company plans to focus on expanding its market presence and enhancing product development in the upcoming fiscal year [19]. - The company aims to explore potential mergers and acquisitions to strengthen its market position and drive growth [19]. Research and Development - The company increased its R&D investment to ¥85,911,200, a 67.72% increase compared to the previous year, accounting for 6.14% of operating revenue [38]. - The company has applied for 546 national patents, including 209 invention patents and 337 utility model patents, with a total of 428 patents granted [39]. - The company is currently engaged in research and development of new technologies to improve operational efficiency and product offerings [19]. - The company has developed ultra-thin glass substrates with a minimum thickness of 0.025mm, which are considered important for flexible display applications [77]. Market Trends and Industry Insights - The global smartphone shipment in 2022 was 1,202 million units, a decline of 11.4% year-on-year, with China's shipments at 286 million units, down 13.3% [40]. - The Mini LED backlight market was valued at $820 million in 2021 and is anticipated to grow to $7 billion by 2025 [48]. - The global Micro LED market is expected to reach $3.5 billion by 2025 and $10 billion by 2027 [50]. - The market size for automotive displays is projected to grow from approximately $8.4 billion in 2021 to $12.8 billion by 2025, reflecting a CAGR of 11.1% [45]. Corporate Governance - The company emphasizes compliance with legal regulations and aims to enhance corporate governance and transparency in operations [121]. - The company has established a governance structure with clear responsibilities among the shareholders' meeting, board of directors, supervisory board, and management team, ensuring compliance with relevant laws and regulations [127]. - The company has set up four specialized committees within the board: strategy, audit, nomination, and remuneration and performance assessment, with defined powers and decision-making procedures [127]. - The company reported no significant differences in governance practices compared to regulatory requirements [127]. Environmental Responsibility - The company achieved a total wastewater discharge of 149.4 tons, which is compliant with the standards [177]. - The company reported a chemical oxygen demand (COD) level of 29.62 mg/L, well below the limit of 500 mg/L [177]. - The ammonia nitrogen concentration was recorded at 0.99 mg/L, significantly lower than the maximum allowable level of 35 mg/L [177]. - The company has established an emergency response plan for environmental incidents, with drills conducted on March 29, September 27, and December 30, 2022 [182]. Employee and Management Practices - The company has established a competitive compensation management system, including basic salary, position salary, and performance salary, to promote employee development [159]. - The company has strengthened its training programs, focusing on safety production, business skills, organizational management, and corporate culture, enhancing the quality and skills of management and frontline employees [160]. - The total remuneration for all directors, supervisors, and senior management for the year amounted to RMB 4.4456 million (pre-tax) [146]. - The company has a diverse management team with extensive experience in finance and technology, enhancing its operational capabilities [143].

2023 年第一季度报告 证券代码：603773 证券简称：沃格光电 江西沃格光电股份有限公司 2023 年第一季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 2023 年第一季度报告 | 归属于上市公司股东的 | 1, 375, 937, 338. 81 | | 1, 375, 784, 656. 76 | 0.01 | | --- | --- | --- | --- | | 所有者权益 | | | | 重要内容提示 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、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | | 本报告期 | 本报告期比上年同期 | | | | --- | --- | --- | --- | --- | --- ...

Financial Performance - The company's operating revenue for Q3 2022 was ¥326,478,129.34, representing an increase of 18.16% compared to the same period last year[2]. - The net profit attributable to shareholders was -¥29,590,024.08 for the quarter, with a year-to-date net profit of -¥34,535,496.79, indicating significant losses[2]. - The company reported a basic and diluted earnings per share of -¥0.1860 for the quarter, with a year-to-date figure of -¥0.2171[2]. - Total operating revenue for the first three quarters of 2022 reached ¥1,071,967,058.40, a significant increase from ¥678,141,939.41 in the same period of 2021, representing a growth of approximately 58%[15]. - The net profit attributable to the parent company's shareholders for the first three quarters of 2022 was a loss of ¥34,535,496.79, worsening from a loss of ¥6,704,720.03 in the same period of 2021[16]. - The company reported a net loss of ¥16,194,531.45 for the first three quarters of 2022, compared to a net loss of ¥4,255,421.94 in 2021[16]. - The company experienced a foreign exchange loss of ¥6,274,540.47 during the reporting period[16]. - The company reported a total comprehensive loss of ¥14,612,049.97 for the third quarter of 2022, compared to a loss of ¥4,255,421.94 in the same quarter of 2021[17]. Assets and Liabilities - The total assets at the end of the reporting period reached ¥3,501,474,369.43, reflecting a 34.39% increase from the end of the previous year[3]. - As of September 30, 2022, the total assets of the company amounted to RMB 3,501,474,369.43, an increase from RMB 2,605,370,387.87 as of December 31, 2021, reflecting a growth of approximately 34.4%[11]. - The company's current assets reached RMB 1,807,343,671.46, compared to RMB 1,052,665,258.76 in the previous year, indicating a year-over-year increase of about 71.6%[12]. - The total liabilities stood at RMB 1,725,935,631.37, up from RMB 971,094,591.70 in the previous year, representing an increase of approximately 77.7%[13]. - The total equity of the company was reported at RMB 1,775,538,738.06, an increase from RMB 1,634,275,796.17 in the previous year, reflecting a growth of about 8.6%[13]. - The company's retained earnings decreased to RMB 422,721,003.74 from RMB 469,492,071.83, indicating a decline of approximately 10%[13]. Cash Flow - The net cash flow from operating activities was -¥229,337,336.03 year-to-date, indicating cash flow challenges[2]. - Cash flow from operating activities for the first three quarters of 2022 was ¥1,490,824,986.45, compared to ¥1,053,580,360.26 in 2021, showing an increase of about 42%[19]. - The net cash flow from financing activities was 522,243,401.19, a substantial increase from 72,963,619.65 year-over-year, showcasing improved capital management[21]. - The total cash outflow from operating activities was 1,778,824,698.36, significantly higher than 1,105,473,165.45 in the previous year, suggesting increased operational costs[20]. - The net cash flow from investment activities was -234,227,870.12, compared to -217,029,756.41 in the previous year, reflecting ongoing investment challenges[20]. - The cash paid for debt repayment was 592,144,534.58, up from 275,066,352.20, reflecting a focus on debt management[21]. Competition and Market Conditions - The company faced increased competition in the LCD panel industry, leading to a decline in product sales prices and gross margins[6]. - The company is actively advancing projects related to Mini/Micro LED glass substrates and backlight modules, which has increased funding requirements[6]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 12,257[8].

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2022, representing a year-on-year increase of 15%[11]. - The company's operating revenue for the first half of the year reached ¥745.49 million, an increase of 85.51% compared to ¥401.85 million in the same period last year[19]. - The net profit attributable to shareholders was a loss of ¥4.95 million, a decline of 301.36% from a profit of ¥2.46 million in the previous year[19]. - The net cash flow from operating activities was a negative ¥99.99 million, worsening from a negative ¥45.73 million in the same period last year[19]. - The company achieved a net profit of RMB 8.17 million, representing an increase of 181.37% compared to the previous year[72]. - The company reported a comprehensive income total of ¥8,399,670.52, an increase from ¥2,905,364.28 in the previous year[182]. - The company’s total comprehensive income for the first half of 2022 was a loss of RMB 7.69 million, compared to a profit of RMB 482.33 million in the first half of 2021[185]. Market Expansion and Product Development - The company plans to launch two new products in Q3 2022, focusing on OLED technology and Mini LED displays, aiming to capture a larger market share[11]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2023[11]. - The company focuses on the application of "glass-based" new materials in consumer electronics, automotive displays, and semiconductor packaging[24]. - The company has established a subsidiary in Jiangxi for the production of Mini/Micro LED substrates, with an expected annual production capacity of 5,240,000 square meters once fully operational[44]. - The company has developed ultra-thin glass substrates (UTG) with a minimum thickness of 0.025mm, which are crucial for flexible display applications[51]. - The company is focusing on the development of glass-based Mini LED backlight and 3A glass integrated black cover plates for automotive display modules[60]. Research and Development - Research and development expenses increased by 30% to RMB 150 million, reflecting the company's commitment to innovation and new technology[11]. - The company’s R&D expenses reached RMB 38.44 million, a 71.4% increase year-on-year, accounting for 5.16% of total revenue[66]. - The company has filed for 476 national patents, including 196 invention patents, with 340 patents granted as of June 30, 2022[49]. - The company has completed R&D upgrades on its In-Cell anti-interference high-resistance coating technology, which is expected to reduce costs and improve yield[52]. - The company has maintained a stable and efficient R&D team, which is crucial for sustaining its competitive edge in the FPD optical glass processing industry[110]. Financial Health and Risks - The total assets increased by 21.10% to ¥3.16 billion from ¥2.61 billion at the end of the previous year[19]. - The company’s total assets amounted to ¥2,700,432,915.10, compared to ¥2,116,825,495.13 in the previous year, reflecting a growth of 27.5%[181]. - The company faces risks from intense market competition in the FPD optical glass processing industry, which is capital and technology-intensive[84]. - The company has significant accounts receivable, which may lead to financial risks if market conditions change or if there are delays in payment collection[87]. - Rising labor costs in China pose a risk to the company's profitability, as the industry relies heavily on labor[86]. Corporate Governance and Compliance - The board confirmed that all financial disclosures are accurate and complete, with no major omissions or misleading statements[6]. - The company has implemented a stock incentive plan to attract and retain talent, enhancing employee motivation[70]. - The controlling shareholder has pledged not to interfere with the company's management or infringe on its interests, and will publicly apologize if any commitments are violated[115]. - The company has committed to strict compliance with information disclosure regulations to avoid misleading statements[141]. - The company guarantees that any share transfers will not occur below the issuance price and will provide prior notice of the transfer plans[117]. Strategic Partnerships and Collaborations - The company has established a joint venture for the investment in Mini LED backlight modules and high-end LCD backlight modules, enhancing its industry chain layout[44]. - The company signed a strategic cooperation agreement with Dongguan Zhongqi Optoelectronic Technology Co., Ltd., committing to purchase no less than 800 million RMB worth of glass substrate products over the next five years[153]. - The company has established a strategic partnership with Zhongqi Optoelectronics to leverage complementary advantages in core materials and application technologies for semiconductor packaging[55]. Environmental and Social Responsibility - The company has established a robust environmental monitoring and management system, ensuring compliance with national and local environmental discharge standards[100]. - The company received the environmental impact assessment approval for the "Annual Production of 16.12 Million AG Glass Project" in April 2022[101]. - The company has implemented a comprehensive emergency response plan for environmental incidents, with a successful drill conducted on March 29, 2022[102].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 356,127,443.09, representing an increase of 88.64% compared to the same period last year[5]. - The net profit attributable to shareholders decreased to CNY 2,336,468.30, a decline of 78.57% year-on-year[5]. - The basic earnings per share were CNY 0.0194, down 83.17% from the previous year[5]. - Total operating revenue for Q1 2022 reached ¥356,127,443.09, a significant increase of 88.8% compared to ¥188,790,945.05 in Q1 2021[22]. - Net profit for Q1 2022 was ¥7,350,782.37, a decrease of 32.5% from ¥10,905,073.91 in Q1 2021[23]. - The company reported a basic earnings per share of ¥0.0194 for Q1 2022, down from ¥0.1153 in Q1 2021[24]. Cash Flow and Liquidity - The company's cash flow from operating activities was negative at CNY -28,737,547.31, indicating a significant cash outflow[5]. - Cash flow from operating activities for Q1 2022 was ¥421,788,255.99, compared to ¥203,346,855.62 in Q1 2021, indicating a growth of 107.5%[25]. - The net cash flow from operating activities was -28,737,547.31, compared to -92,212,795.73 in the previous year, indicating an improvement[26]. - The ending balance of cash and cash equivalents was 280,207,263.87, down from 298,259,221.26 at the beginning of the period[27]. - The company received 7,438,503.52 in cash related to operating activities, showing a significant increase compared to the previous year's 1,427,648.71[26]. - The company paid 115,431,098.72 in cash to employees, which is an increase from 71,932,367.07 in the same period last year[26]. - The cash paid for purchasing goods and services was 293,620,162.24, compared to 203,012,274.43 in the previous year, reflecting a rise in operational costs[26]. - The company reported a cash outflow of 4,377,914.10 related to financing activities, which is a decrease from 31,219,195.66 in the previous year[27]. - The impact of exchange rate changes on cash and cash equivalents was -667,946.01, indicating a negative effect on cash reserves[27]. Assets and Liabilities - Total assets increased by 6.36% to CNY 2,771,164,710.38 compared to the end of the previous year[6]. - The total assets increased to ¥2,771,164,710.38 in Q1 2022 from ¥2,605,370,387.87 in Q1 2021, marking a growth of 6.4%[20]. - Total liabilities rose to ¥1,129,456,954.56 in Q1 2022, up from ¥971,094,591.70 in Q1 2021, reflecting an increase of 16.3%[20]. - The company's non-current assets totaled ¥1,595,132,134.05 in Q1 2022, compared to ¥1,552,705,129.11 in Q1 2021, showing a growth of 2.7%[20]. Investment and Development - Research and development expenses rose by 70.08%, reflecting increased investment in innovation[9]. - Research and development expenses for Q1 2022 were ¥16,499,080.62, an increase of 69.5% from ¥9,700,518.03 in Q1 2021[23]. - The company plans to invest RMB 165 million in a new Mini/Micro LED substrate production project, with an expected annual production capacity of 5,240,000 square meters once fully operational[14]. - The total investment for the new project includes RMB 125 million for construction and RMB 40 million for working capital[14]. - The company established a subsidiary, Jiangxi Dehong Display Technology Co., Ltd., to facilitate the new production project[14]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 12,708[11]. - The company has initiated a second phase of its stock option and restricted stock incentive plan to attract and retain talent, with the grant date set for March 29, 2022[14]. Contractual Obligations - The company reported a significant increase in contract liabilities by 147.28%, attributed to an increase in advance payments received[8]. - A strategic cooperation agreement was signed with Dongguan Zhongqi Optoelectronics Technology Co., Ltd., committing to a minimum purchase of RMB 800 million in glass substrate products over the next five years[15]. Taxation - The company experienced a 301.08% increase in taxes and surcharges, primarily due to higher VAT obligations[9]. - Total operating costs for Q1 2022 were ¥345,851,280.43, up from ¥177,574,468.10 in Q1 2021, reflecting a year-over-year increase of 94.9%[22]. Accounting Standards - The company executed the new accounting standards starting from 2022, which may affect future financial reporting[27].