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].

2020 年第三季度报告 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 转股代码：191577 转股简称：春秋转股 苏州春秋电子科技股份有限公司 2020 年第三季度报告 1 / 29 2020 年第三季度报告 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 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 3 / 29 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年 度末增减(%) 总资产 3,930,143,423.06 2,898,376,793.75 35.60 归属于上市公司股东的净资产 1,720,989,220.65 1,525,856,889.06 12.79 年初至报告期末 （1-9 月） 上年初至上年 ...

Financial Performance - The company's operating revenue for the first half of 2020 reached ¥1,358,507,174.66, representing a 70.36% increase compared to ¥797,454,029.61 in the same period last year[21]. - Net profit attributable to shareholders was ¥138,115,887.98, a significant increase of 431.62% from ¥25,980,345.37 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was ¥131,457,753.70, up 500.08% from ¥21,906,576.47 year-on-year[21]. - Basic earnings per share for the first half of 2020 were ¥0.36, a 414.29% increase from ¥0.07 in the same period last year[22]. - The weighted average return on equity increased by 6.70 percentage points to 8.57% from 1.87% in the previous year[22]. - The company's revenue increased by 70.36% year-on-year, reaching approximately RMB 1.36 billion, compared to RMB 797 million in the previous year[43]. - The operating costs rose by 60.88% to RMB 1.08 billion, driven by the increase in sales volume[43]. - The company reported a gross profit margin of approximately 10.9% for the first half of 2020, compared to 8.0% in the same period of 2019, showing an improvement in profitability[148]. Assets and Liabilities - The company's total assets increased by 23.49% to ¥3,579,323,294.24 from ¥2,898,376,793.75 at the end of the previous year[21]. - The company's total liabilities were reported at ¥1,919,441,405.96, up from ¥1,372,240,613.98, representing an increase of about 39.9%[141]. - The total equity attributable to shareholders rose to ¥1,659,522,868.31 from ¥1,525,856,889.06, indicating an increase of approximately 8.7%[141]. - The company's inventory increased by 46.37% to RMB 657.5 million, reflecting the growth in sales volume[45]. - Short-term loans rose by 25.88% to CNY 534,514,240.78 from CNY 424,615,316.85[46]. - Accounts payable increased by 27.42% to CNY 993,052,028.68 from CNY 779,340,476.52[46]. Cash Flow - The company reported a net cash flow from operating activities of -¥22,674,574.91, a decrease of 117.21% compared to ¥131,744,553.23 in the same period last year[21]. - The net cash flow from operating activities decreased significantly by 117.21% to a negative RMB 22.67 million, primarily due to increased payments for employee compensation and R&D expenses[43]. - The company generated CNY 1,176,772,754.57 in cash inflows from operating activities, compared to CNY 943,135,071.82 in the first half of 2019[155]. - The total cash outflow for operating activities was RMB 485,451,544.54, slightly higher than RMB 418,213,821.83 in the first half of 2019[159]. Research and Development - Research and development expenses for the first half of 2020 were RMB 58,483,798.85, up from RMB 36,242,420.62 in the first half of 2019, an increase of 61.5%[148]. - Research and development expenses increased to CNY 28,747,776.03 in the first half of 2020, up from CNY 20,777,058.35 in the same period of 2019, indicating a focus on innovation[152]. Market Position and Strategy - The main business focus is on providing one-stop services for the design, manufacturing, and sales of precision molds and structural components for consumer electronics, primarily targeting laptop manufacturers[27]. - The company aims to expand its market share by leveraging its core customer resources and exploring domestic brand clients[29]. - The company has established long-term stable partnerships with major clients such as Lenovo, Samsung Electronics, and LG, enhancing its market position and customer resource advantages[32]. - The company has a full industry chain service capability, covering new product development, mold manufacturing, and production of structural components, which contributes to its competitive edge[30]. Environmental Compliance - The company was included in the list of key pollutant discharging units, with a total discharge of hazardous waste amounting to 26.1915 tons, which did not exceed the regulatory limits[106]. - The total emissions of VOCs from Hefei Jingwei were 0.729 tons, with a concentration of 0.335 mg/Nm³, complying with the standard of 80 mg/Nm³[107]. - The company operates 5 sets of air pollution control facilities, including activated carbon adsorption towers and RTO combustion devices, all functioning normally[110]. - The company has established emergency response plans for environmental incidents, in line with national and local regulations[112]. Shareholder Commitments and Governance - The actual controller and major shareholders have committed to not transferring or entrusting their shares for 36 months post-IPO[60]. - The company has a stock repurchase plan that will be executed within 12 months after the shareholders' meeting approval, with a repurchase price not exceeding the latest audited net asset value per share[62]. - The company will disclose reasons for not implementing stock price stabilization measures if the conditions are met but no actions are taken[63]. - The company commits to repurchasing all newly issued shares if there are false statements in the prospectus that significantly affect the judgment of compliance with legal issuance conditions[66]. Financial Reporting and Audit - The company confirmed the appointment of Lixin Certified Public Accountants as the auditing firm for the 2020 fiscal year[89]. - The financial statements prepared by the company comply with the requirements of the enterprise accounting standards, reflecting the financial position, operating results, changes in shareholders' equity, and cash flows accurately[176]. - The report indicates no significant accounting errors or changes in accounting policies during the reporting period[115]. Risks and Challenges - The company faces market competition risks due to the rapid growth of the consumer electronics market and increasing competition from both domestic and international players[50]. - Financial risks include a large accounts receivable balance, which could impact cash flow if not collected on time[52]. - The company is exposed to foreign exchange risks, particularly with USD fluctuations affecting both sales revenue and procurement costs[52].

Financial Performance - Net profit attributable to shareholders rose by 103.33% to CNY 41,889,868.65 year-on-year[6] - Operating revenue increased by 15.66% to CNY 477,664,756.16 compared to the same period last year[6] - Basic earnings per share increased by 87.50% to CNY 0.15[6] - The company reported a net profit of CNY 136,065,736.62, down from CNY 145,584,262.92, reflecting a decrease of approximately 6.5%[22] - Total operating revenue for Q1 2020 was ¥477.66 million, an increase of 15.7% compared to ¥412.98 million in Q1 2019[24] - Net profit for Q1 2020 reached ¥41.85 million, representing a 102.5% increase from ¥20.60 million in Q1 2019[25] - Basic and diluted earnings per share for Q1 2020 were ¥0.15, compared to ¥0.08 in Q1 2019[25] Assets and Liabilities - Total assets increased by 2.67% to CNY 2,975,800,806.53 compared to the end of the previous year[6] - Total assets increased to CNY 2,975,800,806.53 from CNY 2,898,376,793.75, representing a growth of approximately 2.8% year-over-year[17] - Non-current assets totaled CNY 1,081,802,624.38, up from CNY 1,067,475,923.84, indicating a growth of about 1.9%[17] - Total liabilities increased to CNY 1,403,168,977.78 compared to CNY 1,372,240,613.98, marking a rise of about 2.3%[18] - Current liabilities rose to CNY 1,328,661,979.41 from CNY 1,319,942,001.96, reflecting an increase of approximately 0.6%[17] - Total current assets increased to ¥1.89 billion from ¥1.83 billion, reflecting a growth in cash and cash equivalents[16] Cash Flow - Net cash flow from operating activities decreased by 56.95% to CNY 23,101,315.67[6] - Net cash received from operating activities rose by 184.71% to ¥34.36 million due to higher government subsidies compared to the previous year[13] - The net cash flow from operating activities was ¥23.10 million in Q1 2020, a decrease of 57.05% from ¥53.67 million in Q1 2019[30] - The company reported a net cash outflow of ¥107.22 million in Q1 2020, compared to a net inflow of ¥130.57 million in Q1 2019[33] Shareholder Information - The number of shareholders reached 15,615 at the end of the reporting period[10] - The largest shareholder, Xue Gewen, holds 43.12% of the shares, with 52,500,000 shares pledged[10] Government Subsidies and Other Income - The company received government subsidies amounting to CNY 5,365,998.52 during the reporting period[8] - Other income surged by 238.06% to ¥1.19 million, mainly from increased government subsidies[13] - The company reported a significant increase in deferred revenue by 84.37% to ¥46.39 million due to government subsidies[12] Research and Development - Research and development expenses increased by 36.10% to ¥23.91 million to enhance market competitiveness[13] - Research and development expenses increased to ¥23.91 million in Q1 2020, up 36.1% from ¥17.57 million in Q1 2019[24] Financial Adjustments and Standards - The company implemented the new revenue recognition standard starting January 1, 2020, which resulted in the reclassification of "prepayments" of 347,135.00 yuan to "contract liabilities" on the balance sheet[44] - The adjustment to the financial statements will not affect the company's financial position or operating results from previous years[44] - The company will not perform retrospective adjustments for comparative data from the previous year due to the new revenue recognition standard[45]