Financial Performance - The company's operating revenue for 2022 was approximately ¥3.84 billion, a decrease of 3.65% compared to ¥3.99 billion in 2021[22]. - The net profit attributable to shareholders for 2022 was approximately ¥157.27 million, down 48.62% from ¥306.10 million in 2021[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥199.00 million, a decrease of 18.06% compared to ¥242.85 million in 2021[22]. - The net cash flow from operating activities for 2022 was approximately ¥343.36 million, down 17.65% from ¥416.93 million in 2021[22]. - Basic earnings per share decreased by 52.63% to CNY 0.36 in 2022 from CNY 0.76 in 2021[24]. - Diluted earnings per share fell by 52.00% to CNY 0.36 in 2022 compared to CNY 0.75 in 2021[24]. - The weighted average return on equity decreased by 8.47 percentage points to 5.98% in 2022 from 14.45% in 2021[24]. - Total revenue for Q4 2022 was CNY 799.35 million, a decrease from CNY 1.16 billion in Q3 2022[27]. - Net profit attributable to shareholders for Q4 2022 was a loss of CNY 40.71 million, compared to a profit of CNY 75.71 million in Q3 2022[27]. Assets and Liabilities - The total assets at the end of 2022 were approximately ¥5.19 billion, an increase of 1.30% from ¥5.12 billion at the end of 2021[22]. - The net assets attributable to shareholders at the end of 2022 were approximately ¥2.65 billion, an increase of 1.82% from ¥2.60 billion at the end of 2021[22]. - Cash and cash equivalents decreased by 31.86% to 463,192,851.03 CNY, down from 679,717,796.90 CNY in the previous period[62]. - Accounts receivable decreased by 12.35% to 1,202,959,232.33 CNY, compared to 1,372,409,226.44 CNY in the previous period[62]. - Inventory increased by 4.81% to 804,770,625.40 CNY, up from 767,838,953.27 CNY in the previous period[62]. - Contract liabilities increased by 97.68% to 16,846,555.40 CNY, attributed to an increase in pending contract obligations[64]. Investment and R&D - The company plans to invest CNY 570 million in a project to produce 5 million sets of automotive electronic magnesium-aluminum structural parts[32]. - Research and development expenses increased by 19.41% to ¥166,965,976.45, indicating a focus on innovation[45]. - R&D investment accounted for 4.34% of total operating revenue, with a total R&D expenditure of ¥166,965,976.50[56]. - The company completed 10 R&D projects in 2022, including automatic feeding heating embedding production devices for laptop metal casings and special tooling for overcoming 5G module deformation[58]. Market and Competitive Position - The company maintains strong relationships with major clients such as Lenovo, Samsung, HP, and LG, enhancing its market position[42]. - The company aims to enhance competitiveness in the new energy vehicle market through strategic investments and resource integration[32]. - The company is expanding its international presence with investments in Vietnam, expected to yield effective production capacity in 2023[31]. - The market for notebook computer structural components is expected to grow as the market for laptops gradually recovers, driven by new demands for lightweight and functional differentiation[74]. - The company aims to leverage key technologies in metal processing and special plastic materials to enhance its competitive edge in the consumer electronics sector[75]. Governance and Compliance - The governance structure of the company is designed to ensure effective oversight and accountability, with independent directors constituting over one-third of the board[84]. - The company has established a performance evaluation and incentive mechanism for middle and senior management, with a total pre-tax remuneration of 585.59 million yuan for senior management in the reporting period[89]. - The company has implemented a transparent information disclosure system, ensuring timely and fair communication with shareholders, particularly minority shareholders[86]. - The company has not engaged in insider trading activities during the reporting period, maintaining compliance with regulations regarding insider information management[86]. - The company has established a comprehensive management system for insider information, ensuring proper registration and reporting of insiders[86]. Environmental Responsibility - The company has invested approximately 4,525.35 million RMB in environmental protection during the reporting period[115]. - The company has implemented pollution control facilities, including a dry filter and water spray system for spray paint waste gas, with a total of 1 unit operating normally and meeting standards[121]. - The company reduced carbon emissions by approximately 971 tons through the installation of a rooftop distributed photovoltaic system with a capacity of 0.9 MW, generating 956.63 MWh of electricity in 2022[127]. - The company has established a comprehensive environmental monitoring mechanism and management system to ensure compliance with emission standards and effective implementation of self-monitoring plans[126]. - The company has been actively involved in environmental protection efforts, continuously improving its environmental management plans and increasing investment in environmental protection[126]. Shareholder Relations and Dividends - The company plans to distribute a cash dividend of ¥1.00 per 10 shares to all shareholders[5]. - The total cash dividend amount, including share repurchases, is approximately 124,980,490.86 RMB, accounting for 79.47% of the net profit attributable to ordinary shareholders[109]. - The company has established a continuous and stable profit distribution policy, emphasizing reasonable returns to investors while ensuring sustainable development[107]. - The company has committed to further increasing the total capacity of photovoltaic power generation in the future[127]. Risks and Challenges - The company faces risks from high customer concentration, particularly reliance on major laptop brands, which could impact performance if market conditions decline[79]. - The company has a significant amount of accounts receivable, which poses cash flow risks if not collected timely, especially as the business scales[80]. - The company is implementing strategies to mitigate foreign exchange risks, particularly related to USD fluctuations, to protect profit margins[81].

Financial Performance - The company's operating revenue for Q3 2022 was ¥1,158,388,666.58, representing a year-on-year increase of 33.79%[6] - The net profit attributable to shareholders for the same period was ¥75,708,472.50, up 31.22% year-on-year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥92,104,266.90, an increase of 77.50% compared to the previous year[6] - The net profit for Q3 2022 was ¥188,940,566.95, a decrease of 17% compared to ¥227,434,337.31 in Q3 2021[23] - The net profit attributable to shareholders of the parent company was ¥197,981,547.78, down from ¥229,981,072.61, representing a decline of approximately 14%[23] - The basic earnings per share for Q3 2022 was ¥0.17, a 14.79% increase compared to the same period last year[6] - The basic earnings per share for Q3 2022 was ¥0.45, compared to ¥0.58 in the same period last year, reflecting a decrease of about 22%[23] - Total operating revenue for the first three quarters of 2022 reached ¥3,045,316,831.64, an increase of 4.1% compared to ¥2,925,197,000.37 in the same period of 2021[22] - Operating profit for the first three quarters of 2022 was ¥230,988,324.86, slightly up from ¥222,326,896.51 in the previous year[22] - Net profit for the first three quarters of 2022 was ¥188,940,566.95, compared to ¥227,434,337.31 in the same period of 2021, reflecting a decrease of 17.0%[22] Assets and Liabilities - The total assets at the end of the reporting period reached ¥5,782,749,466.59, reflecting a growth of 12.85% from the end of the previous year[6] - Total assets as of September 30, 2022, amounted to ¥5,782,749,466.59, an increase from ¥5,124,230,105.53 at the end of 2021[19] - Current assets totaled ¥3,339,902,226.04, up from ¥3,023,434,896.30 at the end of 2021, indicating a growth of 10.5%[18] - The total liabilities as of September 30, 2022, were ¥2,924,906,105.68, an increase from ¥2,423,150,104.25 at the end of 2021, indicating a growth of 20.8%[19] Cash Flow - The company reported a net cash flow from operating activities of ¥146,130,039.28, which decreased by 37.65% year-on-year[6] - The net cash flow from operating activities decreased to ¥146,130,039.28 from ¥234,359,091.71, a decline of approximately 38%[25] - Cash inflow from operating activities for the first three quarters of 2022 was ¥3,572,294,082.85, slightly up from ¥3,545,101,905.26 in the previous year[25] - The total cash outflow from investing activities was ¥522,309,573.94, compared to ¥508,470,260.59 in the previous year, indicating a slight increase[26] - The net cash flow from financing activities was ¥10,181,363.17, a significant drop from ¥625,867,241.08 in the same period last year[26] - The cash and cash equivalents at the end of Q3 2022 were ¥627,751,344.65, down from ¥936,943,158.06 at the end of Q3 2021, a decrease of about 33%[26] - The company received cash from investment of ¥52,500,000.00 in Q3 2022, compared to ¥589,999,990.01 in the same period last year, showing a significant reduction[26] - The company reported a cash inflow from the recovery of investments amounting to ¥291,362,319.60, compared to ¥68,748,310.47 in the previous year, indicating a substantial increase[25] Financing and Investments - The company experienced a significant increase in accounts receivable financing, which rose by 452.27% to ¥36,518,032.15[10] - Short-term borrowings increased by 33.44% to ¥917,370,571.99 to meet operational needs[10] - Long-term borrowings increased by 65.21% to ¥115,455,819.59, primarily due to the need for long-term financing to support business operations[11] - The company plans to publicly issue convertible bonds not exceeding ¥570 million for the automotive electronic magnesium-aluminum structural component project, marking a significant milestone[15] - The company’s investment income showed a significant loss of ¥27,991,466.47, a decline of 558.22% compared to the previous period, primarily due to the impact of forward foreign exchange settlements[11] - The company reported a decrease in investment income, with a loss of ¥27,991,466.47 compared to a gain of ¥6,108,746.71 in the previous year[22] Research and Development - Research and development expenses for the first three quarters of 2022 were ¥132,706,739.02, up from ¥108,885,407.33 in the same period of 2021, reflecting a growth of 21.9%[22] - The company has successfully mastered "semi-solid injection molding" technology, creating industry barriers and enhancing its competitive edge in magnesium-aluminum alloy applications[16] - The company is focusing on the lightweight trend in the automotive industry, leveraging its technological advantages in magnesium alloys for various applications in new energy vehicles[16] Shareholder Information - The company’s minority shareholders' equity increased by 52.62% to ¥152,682,889.80, influenced by capital increases in non-wholly-owned subsidiaries[11] - The company’s total number of ordinary shareholders at the end of the reporting period was 22,916[13] Expenses - Sales expenses rose by 146.39% to ¥28,506,560.03, mainly due to increased consulting fees during the reporting period[11] - The goodwill increased by 52.93% to ¥36,229,152.42 due to the acquisition of Dongguan Yingmai[10] - Inventory increased to ¥886,634,126.90 from ¥767,838,953.27, representing a rise of 15.4%[18]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥1,886,928,165.06, a decrease of 8.37% compared to ¥2,059,393,442.71 in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2022 was ¥122,273,075.28, down 29.03% from ¥172,287,077.76 in the previous year[20]. - The net cash flow from operating activities decreased significantly by 87.18%, amounting to ¥14,896,415.59 compared to ¥116,170,907.02 in the same period last year[21]. - Basic earnings per share decreased by 36.28% to CNY 0.28 compared to the same period last year[22]. - Diluted earnings per share decreased by 34.88% to CNY 0.28 compared to the same period last year[22]. - The net profit after deducting non-recurring gains and losses was ¥135,072,568.75, a slight increase of 1.85% from ¥132,621,700.80 in the same period last year[20]. - The company reported a total profit of ¥147,604,520.31, a decrease of 27.14% from ¥202,509,360.06 in the previous year[149]. - The company reported a comprehensive income of 111,090,966.61 CNY for the current period[168]. Assets and Liabilities - Total assets increased by 10.68%, reaching ¥5,671,741,241.30 compared to ¥5,124,230,105.53 at the end of the previous year[21]. - The company's total liabilities decreased to ¥828,817,623.76 from ¥907,507,739.59, reflecting a reduction of 8.66%[149]. - The total equity increased to ¥1,889,120,676.70 from ¥1,839,823,381.91, representing a growth of 2.67%[149]. - The company's total liabilities reached CNY 2,852,911,893.97, up from CNY 2,423,150,104.25, indicating a growth of around 17.8%[144]. - The total owner's equity at the end of the reporting period is 1,889,120,676.70 CNY, a decrease from the previous period's 1,839,823,381.91 CNY[168]. Cash Flow - The company's cash flow from operating activities was positively impacted by a significant increase in cash received from sales, totaling ¥676,570,859.18, down from ¥910,489,983.66 in the previous year[160]. - The net cash flow from operating activities for the first half of 2022 was ¥97,153,665.03, a significant increase from ¥17,593,042.48 in the same period of 2021, representing a growth of approximately 438%[160]. - The total cash inflow from investment activities was ¥245,756,892.56, compared to ¥78,240,508.89 in the first half of 2021, indicating an increase of about 214%[160]. - The total cash and cash equivalents at the end of the first half of 2022 stood at ¥167,060,678.38, down from ¥266,015,132.32 at the end of the first half of 2021, a decrease of approximately 37.2%[160]. Investment and Expansion - The company plans to invest in the automotive electronics sector using proceeds from a new convertible bond issuance, which is expected to create new profit growth points[33]. - The company expanded its production capacity with the launch of subsidiaries in Chongqing and Nanchang, enhancing its market competitiveness[32]. - The company has multiple subsidiaries, including those in Vietnam, indicating a strategy for market expansion[172]. Environmental Responsibility - The company and its subsidiaries, Hefei Jingwei and Hefei Boda, have been included in the list of key pollutant discharge units for soil environment, with total solid waste emissions of 60.645 tons from Chunqiu Electronics and 4.463 tons from Hefei Jingwei[58]. - Hefei Boda has been listed as a key pollutant discharge unit for air environment, with total emissions of 2.017 tons of non-methane total hydrocarbons and 1.071 tons of nitrogen oxides, all within the regulatory limits[59]. - The company has implemented various pollution control facilities, including 2 zeolite adsorption + RTO incineration units at Chunqiu Electronics, ensuring compliance with relevant emission standards[61]. - The company has established a robust environmental monitoring mechanism and management system to ensure effective implementation of self-monitoring plans[68]. Shareholder Commitments - The company has made commitments regarding stock price stabilization measures, including potential stock buybacks, to be discussed within five working days upon triggering conditions[75]. - The controlling shareholder has committed to increasing their shareholding by at least 20% of their previous year's after-tax cash dividends and salary within 12 months of the stock price stabilization plan announcement[77]. - The company must actively communicate with shareholders, especially minority shareholders, regarding cash dividend proposals, ensuring their opinions are heard and addressed[87]. Risk Factors - The company faced a significant risk from market competition, particularly in the consumer electronics sector, which is experiencing rapid growth and increasing competition[47]. - The company has a high customer concentration risk, with major clients being top global notebook brands, which could adversely affect performance if demand declines[48]. - The company is exposed to foreign exchange risks, particularly with USD fluctuations affecting both revenue and procurement costs[49]. Research and Development - Research and development expenses rose to ¥80,134,185.67, an increase of 13.00% compared to ¥70,329,147.62 in the first half of 2021[149]. - The company has achieved a mold development precision of 0.008-0.015mm, showcasing its technical advantages in the notebook computer structural components industry[31]. Corporate Governance - The company has committed to fully bear the costs of social insurance and housing fund contributions that were not paid before the subsidiary's IPO[96]. - The company’s accounting firm, Lixin CPA, confirmed the accuracy and completeness of the IPO documents, committing to compensate investors for any losses due to misstatements[96].

2022 年第一季度报告 证券代码：603890 证券简称：春秋电子 债券代码：113577 债券简称：春秋转债 苏州春秋电子科技股份有限公司 2022 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、准确性和完整性依法承担法律责任。 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报表 信息的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 1 / 12 2022 年第一季度报告 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 本期金额 说 明 非流动资产处置损益 -203,719.72 越权审批，或无正式批准文件，或偶发性的税收返还、减免 计入当期损益的政府补助，但与公司正常经营业务密切相关，符合国家政策规定、 按照一定标准定额或定量持续享受的政府补助除外 3,795,861.54 计入当期损益的对非金 ...

Financial Performance - The company's operating revenue for 2021 was ¥3,990,250,379.17, representing an increase of 11.41% compared to ¥3,581,699,455.48 in 2020[20]. - The net profit attributable to shareholders of the listed company was ¥306,102,793.33, a growth of 24.20% from ¥246,465,072.12 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was ¥242,852,248.67, which is a 4.53% increase from ¥232,337,993.80 in 2020[20]. - The net cash flow from operating activities was ¥416,933,233.11, a significant recovery from a negative cash flow of ¥10,890,048.10 in 2020[20]. - The total assets at the end of 2021 reached ¥5,124,230,105.53, marking a 19.68% increase from ¥4,281,737,886.22 in 2020[20]. - The net assets attributable to shareholders of the listed company increased by 45.68% to ¥2,601,041,569.30 from ¥1,785,429,170.51 in 2020[20]. - Basic earnings per share increased by 16.92% to CNY 0.76 in 2021 compared to CNY 0.65 in 2020[21]. - The company's net profit attributable to shareholders for Q1 2021 was CNY 79.36 million, while Q2 was CNY 92.92 million, Q3 was CNY 57.69 million, and Q4 was CNY 76.12 million[22]. - The total operating income for 2021 was CNY 4.09 billion, with a significant contribution from the notebook computer structural components business[28]. Cash Flow and Investments - The net cash flow from operating activities for Q4 2021 was CNY 182.57 million, indicating strong operational efficiency[23]. - Non-recurring gains for 2021 included government subsidies amounting to CNY 21.95 million, contributing positively to net profit[23]. - The company reported a significant increase in cash flow from operating activities, reaching RMB 416,933,233.11, compared to a negative cash flow in the previous year[41]. - Net cash flow from financing activities increased by 133,419,737.49 CNY, a growth of 30.59%, primarily due to increased private stock issuance during the reporting period[44]. - Cash and cash equivalents increased by 29.81% to CNY 679,717,796.90, compared to CNY 523,618,234.10 in the previous period[61]. - The company's long-term equity investments rose by 56.68% to CNY 47,897,082.29, attributed to increased investments in joint ventures[66]. Operational Efficiency and Market Position - The company has established a strong partnership with Lenovo and is expanding its customer base with Dell and HP, contributing to revenue growth[29]. - The company has successfully overcome technical barriers in "semi-solid injection molding" for magnesium alloy applications, enhancing its competitive edge in lightweight automotive components[30]. - The company is focused on expanding its market share by leveraging core customer resources and exploring new brand clients[33]. - The company maintains strong relationships with major clients such as Lenovo, Samsung, HP, and LG, enhancing its market position[39]. - The company produced 86,517,458 units of PC and smart terminal components, with a sales volume of 81,475,585 units, reflecting a production increase of 17.06%[47]. Research and Development - Research and development expenses rose by 10.31% to RMB 139,827,564.14, indicating a commitment to innovation[41]. - R&D investment accounted for 3.50% of total operating revenue, with 561 R&D personnel representing 12.28% of the total workforce[54][55]. - The company completed 10 R&D projects, including a mold technology for notebook shell hinges and an automatic production device for metal shells[57]. Risk Management - The company faces significant market competition risks due to the rapid growth of the consumer electronics market and increasing competition from both international and domestic rivals[73]. - High customer concentration risk exists as the top five global notebook brands hold a substantial market share, which could adversely affect the company's performance if major clients reduce orders[74]. - The company has a large accounts receivable balance, primarily from reputable international notebook manufacturers, which poses cash flow risks if not collected timely[74]. - Currency fluctuation risks are present, particularly with USD exchange rates affecting both sales revenue and procurement costs, but the company employs hedging strategies to mitigate these risks[76]. Corporate Governance - The company has implemented measures to enhance corporate governance, including regular board meetings and committees to ensure effective oversight and decision-making[79]. - The company maintains transparency in information disclosure, adhering to regulations to protect shareholder rights, especially for minority shareholders[81]. - The company has not faced any significant insider trading issues, maintaining compliance with regulations regarding insider information management[81]. - The company has established an internal control management system in accordance with relevant laws and regulations, enhancing decision-making efficiency and ensuring compliance and asset security[107]. Shareholder Commitments and Dividends - The company plans to distribute a cash dividend of ¥1.00 per 10 shares to all shareholders[5]. - The company promises to maintain a stable profit distribution policy, with cash dividends accounting for at least 10% of the distributable profits each year[139]. - In mature stages without major capital expenditures, cash dividends should constitute at least 80% of the profit distribution[140]. - The company will communicate with shareholders, especially minority shareholders, regarding dividend proposals[141]. Environmental Compliance - The company emphasizes environmental protection and has established a robust environmental monitoring mechanism[120]. - The company has implemented a self-monitoring plan for environmental compliance, with automatic monitoring equipment approved by environmental authorities[117]. - The company operates six sets of exhaust gas treatment facilities, achieving compliance with emission standards[114]. - The company has a total of 2 sets of hazardous waste warehouses to manage hazardous waste appropriately[114]. Share Structure and Changes - The total number of shares held by the chairman and general manager, Xue Gewen, decreased from 165,380,880 to 146,913,405, a reduction of 18,467,475 shares due to agreement transfer and share increase plan[83]. - The total number of shares held by the financial director, Lu Qiuping, increased from 2,673,600 to 2,842,435, an increase of 168,835 shares due to the share increase plan[83]. - The total number of shares held by the deputy general manager, Wang Haibin, increased from 806,200 to 975,035, an increase of 168,835 shares due to the share increase plan[83]. - The total number of shares held by the board secretary, Zhang Zhenjie, increased from 3,403,986 to 3,572,821, an increase of 168,835 shares due to the share increase plan[83]. Audit and Compliance - The company has maintained a standard unqualified audit opinion from its accounting firm, ensuring the accuracy and completeness of its financial reports[4]. - The current auditor, Lixin Accounting Firm, has been engaged for 9 years with an audit fee of 1.1 million RMB[157]. - The company has not faced any penalties from securities regulatory authorities in the past three years[89]. - There were no significant accounting policy changes or major accounting errors during the reporting period[156].

2021 年第三季度报告 证券代码：603890 证券简称：春秋电子 债券代码：113577 债券简称：春秋转债 苏州春秋电子科技股份有限公司 2021 年第三季度报告 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个别及连带责任。 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 报表信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 1 / 15 2021 年第三季度报告 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 | | | --- | --- | --- | --- | --- | | | | 本报告期比上 | | 年初至报告期末 | | 项目 | 本报告期 | 年同期增减变 | 年初至报告期末 | 比上年同期增减 | | | | 动幅度(%) | | 变动幅度(%) | | ...

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥2,059,393,442.71, representing a 51.59% increase compared to ¥1,358,507,174.66 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was ¥172,287,077.76, up 24.74% from ¥138,115,887.98 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was ¥132,621,700.80, showing a slight increase of 0.89% compared to ¥131,457,753.70 in the same period last year[18]. - The net cash flow from operating activities was ¥116,170,907.02, a significant turnaround from a negative cash flow of ¥22,674,574.91 in the previous year, marking a 612.34% increase[19]. - Basic earnings per share increased by 22.22% to CNY 0.44 compared to CNY 0.36 in the same period last year[20]. - Diluted earnings per share rose by 19.44% to CNY 0.43 from CNY 0.36 year-on-year[20]. - The weighted average return on equity improved to 8.91% from 8.57% in the previous year, an increase of 0.34 percentage points[20]. - The company's revenue for the first half of 2021 reached approximately RMB 2.06 billion, representing a 51.59% increase compared to RMB 1.36 billion in the same period last year[33]. - The operating costs increased by 60.87% to RMB 1.74 billion, up from RMB 1.08 billion, primarily due to the rise in sales volume driven by stable downstream market demand[33]. Assets and Liabilities - The total assets at the end of the reporting period were ¥4,530,006,638.24, reflecting a 5.80% increase from ¥4,281,737,886.22 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company increased to ¥1,935,838,810.75, which is an 8.42% rise from ¥1,785,429,170.51 at the end of the previous year[19]. - The company's cash and cash equivalents at the end of the reporting period amounted to RMB 593.04 million, a 13.26% increase from RMB 523.62 million at the end of the previous year[36]. - The total liabilities of the company as of June 30, 2021, amounted to RMB 2.588 billion, with a debt-to-asset ratio of 57.12%[132]. - The company's total liabilities decreased to ¥1,148,063,932.71 from ¥1,250,610,245.50 year-on-year, indicating a reduction of approximately 8.2%[141]. Market Position and Strategy - The company focuses on providing one-stop services for precision molds and structural components for consumer electronics, primarily targeting laptop manufacturers[24]. - The company aims to leverage its core customer resources, including Lenovo and Samsung, to expand its market share further[26]. - The company has established long-term stable partnerships with major clients such as Lenovo, Samsung, HP, and Dell, enhancing its market position[29]. - The global PC market is projected to ship 357 million units in 2021, marking an 18.1% growth, significantly higher than the previous forecast of 1.6%[30]. - The company is actively entering the new energy vehicle sector, having invested in a metal materials technology company to tap into this emerging market[31]. Research and Development - R&D expenses increased by 20.25% to RMB 70.33 million, as the company aims to enhance its market competitiveness[34]. - The company has achieved a precision mold development accuracy of 0.008-0.015mm, showcasing its technical capabilities in the industry[30]. - The company has been actively involved in research and development to enhance its product offerings and technological capabilities[167]. Environmental Compliance - Environmental compliance is a focus, with several subsidiaries classified as key pollutant discharge units, necessitating adherence to strict environmental regulations[58]. - The company has reported specific hazardous waste management practices, including the disposal of various types of waste in compliance with regulations[58]. - The company operates 6 sets of exhaust gas treatment facilities, achieving normal operation and compliance with emission standards[61]. - The company has implemented a self-monitoring plan for environmental compliance, with regular data uploads to monitoring platforms[65]. - The company has committed to enhancing environmental protection measures and increasing employee awareness of environmental responsibilities[67]. Shareholder Commitments and Governance - The company commits to not transferring more than 25% of their shares held directly or indirectly during their tenure and for 6 months after leaving the position[72]. - The company plans to initiate a stock repurchase plan within 5 working days after the conditions for stabilizing the stock price are met, with a repurchase price not exceeding the latest audited net asset per share[73]. - The company promises to repurchase all new shares if there are false statements in the prospectus that materially affect the judgment of compliance with issuance conditions[78]. - The controlling shareholder commits to urging the company to repurchase shares if there are false statements in the prospectus and will also repurchase their own shares that were previously reduced[79]. - The company’s board and senior management will bear individual and joint liability for compensation if investors suffer losses due to false statements in the prospectus[80]. Financial Management - The company has a strong ability to meet its debt obligations, supported by stable profitability and good financial indicators[132]. - The company reported a total profit of RMB 104,224,218.06, which is an increase of 66.6% compared to RMB 62,573,476.56 in the previous year[147]. - The company’s total equity attributable to shareholders was RMB 1,785,429,170.51, with a slight increase in retained earnings, reflecting ongoing profitability despite market challenges[156]. - The company has made significant investments in fixed assets, with cash payments amounting to RMB 47,203,513.49, aimed at enhancing operational capacity[154]. Risks and Challenges - The company faces significant market competition risks due to the rapid growth of the consumer electronics market and increasing competition from both international and domestic rivals[47]. - High customer concentration risk exists as the top five global notebook brands hold a substantial market share, which could adversely affect the company's performance if demand declines[48]. - Currency fluctuation risks are present, particularly with USD exchange rates affecting both sales revenue and procurement costs[49]. - Rapid expansion may lead to increased operational complexity, requiring enhanced management capabilities to maintain efficiency[48]. Corporate Governance and Integrity - The company has no significant litigation or arbitration matters during the reporting period[103]. - The company and its major shareholders maintained a good integrity status during the reporting period[103]. - There are no significant related party transactions reported during the period[104]. - The company has not engaged in any non-operating fund occupation by major shareholders or related parties[103].

2021 年第一季度报告 公司代码：603890 公司简称：春秋电子 债券代码：113577 债券简称：春秋转债 苏州春秋电子科技股份有限公司 2021 年第一季度报告 1 / 28 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 5 | | 四、 | 附录 9 | 2021 年第一季度报告 一、 重要提示 1.1 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。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人薛革文、主管会计工作负责人陆秋萍及会计机构负责人（会计主管人员）陆金花 保证季度报告中财务报表的真实、准确、完整。 1.4 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 非经常性损益项目和金额 √适用 □不适用 | 单位：元币种：人民币 | | --- | | 项目 | 本期金额 | 说明 | | --- | --- | --- | | 非流动资产处置损益 | -89,028.65 | | ...

Financial Performance - The company's operating revenue for 2020 was approximately ¥3.58 billion, representing a 77.36% increase compared to ¥2.02 billion in 2019[21]. - Net profit attributable to shareholders was approximately ¥246.47 million, up 58.17% from ¥155.83 million in 2019[21]. - Basic earnings per share increased to ¥0.65, a rise of 58.54% from ¥0.41 in 2019[22]. - The weighted average return on equity rose to 14.95%, an increase of 4.25 percentage points from 10.70% in 2019[22]. - Total assets at the end of 2020 reached approximately ¥4.28 billion, a 47.73% increase from ¥2.90 billion in 2019[21]. - The net cash flow from operating activities was negative at approximately -¥10.89 million, a decline of 106.29% compared to ¥173.25 million in 2019[21]. - The company achieved a total revenue of RMB 3,581.70 million in 2020, representing a year-on-year increase of 77.36%[47]. - Net profit for the year was RMB 246.47 million, an increase of 58.17% compared to the previous year[47]. - The gross margin for the main business decreased by 1.26 percentage points to 17.67%[53]. Dividend Policy - The company plans to distribute a cash dividend of 2.00 RMB per 10 shares to all shareholders, with a total of 68,760 shares to be repurchased and canceled[5]. - The company’s cash dividend payout ratio for 2020 was 31.64% of net profit attributable to ordinary shareholders[91]. - The company commits to a continuous and stable profit distribution policy, ensuring that cash dividends will not be less than 10% of the distributable profits for the year[107]. - In mature stages without major capital expenditures, cash dividends should constitute at least 80% of the profit distribution[108]. - The company will prioritize cash dividends over stock dividends when distributing profits[107]. Corporate Governance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[4]. - The company maintains a commitment to the accuracy and completeness of the annual report, with all board members present at the meeting[8]. - The board will link the compensation system of directors and senior management to the execution of profit compensation measures[104]. - The company will ensure that any future stock incentive plans are tied to the execution of profit compensation measures[104]. - The company has established a cash dividend policy that requires adjustments to be approved by the board and shareholders, with a two-thirds majority needed for changes[111]. - The board of directors consists of more than one-third independent directors, ensuring compliance with legal and regulatory requirements[194]. - All proposals at the shareholder meetings were approved without any rejections, indicating strong support from shareholders[197]. Market Position and Strategy - The company focuses on providing precision structural components and molds for consumer electronics, primarily for laptop manufacturers[31]. - The main clients for the company's precision molds include major brands such as Lenovo and Samsung[32]. - The global notebook computer shipment volume reached 235.1 million units in 2020, with a projected growth of 18.2% to 357.4 million units in 2021[41]. - The company's market share in the global notebook structure component market increased from approximately 6.32% before its IPO to around 10% in 2020, with a target to exceed 20% in the next three to five years[42]. - The company has established long-term stable business relationships with major clients such as Lenovo, Samsung, HP, and Dell, and is actively expanding its customer base[42]. Research and Development - Research and development expenses rose by 33.98% to RMB 126.76 million, reflecting the company's commitment to enhancing market competitiveness[54]. - The company completed nine R&D projects, including new technologies for laptop structure modules and motherboard testing interfaces[64]. - The company will enhance R&D efforts and capital investment in precision mold manufacturing and metal processing technologies to improve product quality and reduce manufacturing costs[80]. - The company is committed to developing high-value-added products such as magnesium-aluminum components and carbon fiber materials[80]. Risk Management - The company has detailed potential risks in the "Discussion and Analysis of Operating Conditions" section of the annual report[7]. - The company faces operational management risks due to rapid expansion, which may complicate procurement, sales, and financial controls[83]. - The company's reliance on large clients poses a risk if the notebook market experiences a downturn, potentially affecting sales volumes[82]. - The company has implemented measures to hedge against foreign exchange risks, including increasing USD payments and engaging in forward foreign exchange contracts[85]. Environmental Compliance - The subsidiary Hefei BoDa reported a total wastewater discharge of 8.1 tons for COD, with a concentration of 75 mg/L, which is below the limit of 80 mg/L[142]. - Hefei BoDa's nitrogen oxides emissions were recorded at 17.43 tons, with a concentration of 2 mg/m³, complying with the local standards[143]. - The company has implemented 11 pollution control facilities, including 5 sets of light-oxygen activated carbon integrated machines, which are operating normally and meeting standards[143]. - The company has established a total of 6 emergency response plans for environmental incidents, in compliance with national and local regulations[146]. Shareholder Commitments - The actual controller and major shareholder, Xue Gewen, committed not to transfer or entrust the management of shares for 36 months post-listing, and to limit annual transfers to 25% of total shares held during his tenure[94]. - Major shareholders holding over 5% of shares commit to not selling shares during the lock-up period and will not reduce share prices below the issuance price[106]. - The controlling shareholder has committed to avoiding any business activities that may compete with the company, ensuring no direct or indirect competition[112]. Employee Welfare - The company maintains a focus on employee welfare and rights, enhancing corporate cohesion and growth[139]. - The company provides various employee benefits, including insurance and health check-ups, to enhance employee welfare and satisfaction[190]. - The company emphasizes the importance of performance evaluation and incentive mechanisms for middle and senior management, ensuring accountability and motivation[195].

Dividend and Profit Distribution - The company plans to distribute a cash dividend of 2.00 RMB per 10 shares to all shareholders, with a total of 68,760 shares to be repurchased and canceled, not participating in this distribution[5]. - The company has maintained a stable profit distribution policy, focusing on reasonable returns to investors while ensuring sustainable development[89]. - The company commits to ensuring that the profit distribution policy prioritizes reasonable returns to investors, with a minimum of 10% of distributable profits allocated for cash dividends annually[107]. - In the case of significant capital expenditures, the company will ensure that cash dividends account for at least 40% of the profit distribution during the mature phase[108]. - The company will implement a cash dividend policy that prioritizes cash over stock dividends, ensuring that cash dividends are distributed first when conditions are met[107]. - The company plans to distribute a cash dividend of 2.00 RMB per 10 shares, amounting to a total of 77,973,278.60 RMB, based on a total share count of 389,866,393 shares[89]. Financial Performance - The company's operating revenue for 2020 was approximately ¥3.58 billion, representing a 77.36% increase compared to ¥2.02 billion in 2019[21]. - Net profit attributable to shareholders was approximately ¥246.47 million, up 58.17% from ¥155.83 million in 2019[21]. - Basic earnings per share increased to ¥0.65, a rise of 58.54% from ¥0.41 in 2019[22]. - The weighted average return on equity rose to 14.95%, an increase of 4.25 percentage points compared to 10.70% in 2019[22]. - Total assets at the end of 2020 reached approximately ¥4.28 billion, a 47.73% increase from ¥2.90 billion at the end of 2019[21]. - The gross margin for the main business decreased by 1.26 percentage points to 17.67%[53]. - The company achieved a total revenue of RMB 3,581.70 million in the reporting period, representing a year-on-year increase of 77.36%[47]. - Net profit for the year was RMB 246.47 million, reflecting a year-on-year growth of 58.17%[47]. Risks and Compliance - The company has detailed potential risks in the "Discussion and Analysis of Operating Conditions" section of the annual report[7]. - The company faces risks from market competition, particularly from both international and domestic competitors in the consumer electronics sector[82]. - The company is exposed to foreign exchange risks, particularly from fluctuations in the USD/RMB exchange rate, which can impact both sales revenue and procurement costs[85]. - The company has a strategy to hedge against foreign exchange risks by increasing USD payments and engaging in forward foreign exchange contracts[85]. - The company has acknowledged the existence of unpaid social insurance and housing fund contributions and the actual controller has committed to bear any penalties or repayment obligations[116]. - The company has not reported any instances of fund occupation or collection progress during the reporting period[122]. Corporate Governance - The company has confirmed that all board members attended the board meeting[8]. - The board of directors will link the compensation system for executives to the execution of profit compensation measures[104]. - The company has established a competitive and internally motivating compensation system, adjusting salaries based on market research and analysis annually[190]. - The company ensures equal rights for all shareholders, particularly minority shareholders, and maintains transparent communication regarding company operations[194]. - The company has implemented a performance evaluation and incentive mechanism for middle and senior management, with evaluations conducted by the HR department and the compensation committee[195]. - The company has maintained a good integrity status for both itself and its controlling shareholders during the reporting period[126]. Market and Client Relationships - The company focuses on providing precision structural components and molds for consumer electronics, primarily for laptop manufacturers[31]. - The main clients for the company's precision molds include major brands such as Lenovo and Samsung[32]. - The company has established long-term stable business relationships with major clients such as Lenovo, Samsung, HP, and Dell, and is actively expanding its customer base[42]. - The company's market share in the global notebook structure component market increased from 6.32% before its IPO to approximately 10% in 2020, with a target to exceed 20% in the next three to five years[42]. - The market for notebook computer structural components is anticipated to grow as the market recovers, driven by new demands for lightweight and functional designs[77]. Research and Development - Research and development expenses rose by 33.98% to RMB 126.76 million, aimed at enhancing market competitiveness[54]. - The company completed nine R&D projects, including new technologies for laptop structural modules and motherboard testing interfaces[64]. - The company will enhance R&D efforts and capital investment in precision mold manufacturing and metal processing technologies to improve product quality and reduce manufacturing costs[80]. - The company is committed to developing high-value-added products such as magnesium-aluminum components and carbon fiber materials[80]. Environmental Compliance - The company is classified as a key pollutant discharge unit and complies with environmental protection regulations[140]. - The company has implemented 11 pollution control facilities, including 5 sets of light-oxygen activated carbon integrated machines, which are operating normally and meeting standards[143]. - The total hazardous waste discharged by Hefei Jingwei was 321.015 tons, which is within the approved limit of 335 tons[141]. - The company has established a total of 6 emergency response plans for environmental incidents, in compliance with national and local regulations[146]. Shareholder and Stakeholder Engagement - The company has established a good communication mechanism with investors through various channels[139]. - The company actively participates in social responsibility initiatives and aims for harmonious development with stakeholders[139]. - The company has not engaged in insider trading activities during the reporting period, adhering to regulations on insider information management[196]. - The company provides various employee benefits, including insurance and health check-ups, to enhance employee satisfaction and retention[190].