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].

Financial Performance - Net profit attributable to shareholders rose by 136.45% to CNY 196,207,233.21 for the first nine months of the year[5] - Operating revenue for the first nine months reached CNY 2,416,394,932.75, a 79.33% increase year-on-year[5] - Basic earnings per share increased by 136.36% to CNY 0.52[5] - The company reported a diluted earnings per share of CNY 0.51, up 131.82% year-on-year[5] - Total operating revenue for Q3 2020 reached ¥1,057,887,758.09, a 92% increase from ¥549,982,161.16 in Q3 2019[26] - Net profit for Q3 2020 was ¥58,172,099.89, compared to ¥57,000,686.39 in Q3 2019, showing a slight increase[27] - The company reported a total profit of ¥65,883,918.84 for Q3 2020, slightly down from ¥71,306,795.22 in Q3 2019[27] - The total profit for Q3 2020 was ¥10,652,288.48, a decrease of 83.5% from ¥64,737,274.55 in Q3 2019[31] Assets and Liabilities - Total assets increased by 35.60% to CNY 3,930,143,423.06 compared to the end of the previous year[5] - Total liabilities amounted to CNY 2,208,714,427.78, up from CNY 1,372,240,613.98, representing a growth of about 60.7%[19] - Current assets totaled CNY 2,566,009,113.16, up from CNY 1,830,900,869.91, indicating a growth of about 40.2% year-over-year[18] - Non-current assets totaled CNY 1,364,134,309.90, up from CNY 1,067,475,923.84, reflecting an increase of about 28%[18] - Total liabilities increased to ¥1,124,251,039.64 in Q3 2020 from ¥579,244,277.88 in Q3 2019, representing a 94% rise[24] - The company's equity totaled ¥1,260,161,243.68 in Q3 2020, compared to ¥1,191,498,489.24 in Q3 2019, marking a 5.8% increase[24] Cash Flow - Cash flow from operating activities decreased by 28.62% to CNY 131,730,573.32 compared to the same period last year[5] - The net cash flow from operating activities for the first three quarters of 2020 was ¥131,730,573.32, down from ¥184,542,184.39 in the same period of 2019, a decline of 28.6%[32] - The company reported a net cash outflow from investing activities of ¥299,495,184.97 for the first three quarters of 2020, compared to a net outflow of ¥195,764,869.23 in the same period of 2019[33] - Total cash inflow from financing activities increased to 512,580,829.70 RMB in 2020, up from 217,781,649.17 RMB in 2019, reflecting a strong capital raising effort[36] - The net cash flow from investment activities was negative at -245,800,544.45 RMB, a sharp decline from a positive 56,123,832.75 RMB in the previous year, suggesting increased investment expenditures[35] Shareholder Information - The number of shareholders reached 27,137 by the end of the reporting period[7] - The largest shareholder, Xue Gewen, holds 42.98% of the shares, with 165,380,880 shares pledged[8] Research and Development - Research and development expenses increased by 46.50% to RMB 93,356,570.34, attributed to higher investment in new product development[13] - Research and development expenses for Q3 2020 were ¥34,872,771.49, up from ¥27,482,390.82 in Q3 2019, reflecting a 27% increase[26] - Research and development expenses for the first three quarters of 2020 totaled ¥45,635,994.29, up from ¥36,628,125.55 in the same period of 2019, reflecting a growth of 24.5%[30] Operational Costs - Operating costs rose by 75.47% to RMB 1,940,736,639.33, in line with the increase in revenue and market demand[12] - Total operating costs for Q3 2020 were ¥979,159,688.18, up from ¥482,684,415.05 in Q3 2019, reflecting a 103% increase[26] Equity and Owner's Equity - The company's equity attributable to shareholders reached CNY 1,720,989,220.65, an increase from CNY 1,525,856,889.06, indicating a growth of approximately 12.8%[19] - Owner's equity reached CNY 1,526,136,179.77, with total assets at CNY 2,898,376,793.75[39] - The total owner's equity included CNY 479,384,923.29 in undistributed profits[39]

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]

Financial Performance - The company's operating revenue for 2019 was CNY 2,019,407,423.42, representing a 13.79% increase compared to CNY 1,774,607,107.22 in 2018[21] - The net profit attributable to shareholders of the listed company was CNY 155,826,362.89, an increase of 43.46% from CNY 108,619,155.41 in the previous year[21] - The net profit after deducting non-recurring gains and losses was CNY 152,547,387.01, reflecting a 56.18% increase from CNY 97,673,663.31 in 2018[21] - The net cash flow from operating activities reached CNY 173,252,689.52, a significant increase of 265.17% compared to CNY 47,443,891.50 in 2018[21] - Basic earnings per share increased by 45.00% to CNY 0.58 compared to CNY 0.40 in the previous year[23] - The weighted average return on equity rose by 2.75 percentage points to 10.7% from 7.95% in the previous year[23] - Total revenue for the fourth quarter reached CNY 671,971,232.65, with a net profit attributable to shareholders of CNY 72,845,331.13[25] - The net profit after deducting non-recurring items for the fourth quarter was CNY 74,363,884.67, reflecting strong operational performance[25] Assets and Liabilities - The total assets of the company at the end of 2019 were CNY 2,898,376,793.75, up 13.96% from CNY 2,543,244,674.86 at the end of 2018[21] - The net assets attributable to shareholders of the listed company increased to CNY 1,525,856,889.06, an 8.17% rise from CNY 1,410,644,397.71 in 2018[21] - Cash and cash equivalents decreased by 13.81% to ¥473.65 million, accounting for 16.34% of total assets[58] - Accounts receivable increased by 16.11% to ¥773.46 million, representing 26.69% of total assets[58] - Inventory rose by 48.43% to ¥449.22 million, driven by increased sales scale and orders on hand[58] - Fixed assets increased by 60.51% to ¥803.73 million, attributed to the completion of factory acceptance and equipment purchases[58] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 2.00 per 10 shares, totaling CNY 54,797,000 (including tax) to all shareholders[5] - The company will also increase its capital by 109,594,000 shares, with a distribution of 4 additional shares for every 10 shares held[5] - The company emphasizes a stable profit distribution policy, balancing investor returns with sustainable development needs[79] - The company prioritizes cash dividends in profit distribution, with a minimum of 10% of distributable profits allocated to cash dividends annually[100] R&D and Innovation - The company’s R&D expenses increased by 26.86% to CNY 94,610,259.75, indicating a strong commitment to innovation[44] - The company has established a comprehensive supply chain service covering new product development, mold manufacturing, and production of structural components[32] - The company plans to enhance its production capacity in metal structural components, with projects aimed at producing 3 million sets of precision structural components annually[39] - The company’s total investment in R&D projects included nine significant developments, such as high-precision ultra-thin laptop structural modules and ultra-light magnesium-lithium alloy laptop shells[54] Market Position and Client Relationships - Major clients include Lenovo and Samsung, indicating a strong position in the supply chain for leading electronics manufacturers[30] - The company has maintained long-term partnerships with major clients such as Lenovo, Samsung, and HP, enhancing its market position[34] - The company’s precision molds are primarily used for producing structural components, with significant demand from the electronics and home appliance sectors[29] Risks and Compliance - The company has highlighted potential risks in its annual report, urging investors to pay attention to investment risks[7] - The company faces risks from market competition, particularly from both international and domestic competitors, which could impact its market position[72] - The company emphasizes compliance with laws and regulations, ensuring accurate and timely information disclosure to stakeholders[136] Environmental Responsibility - The company has been included in the list of key pollutant discharge units, with solid waste emissions totaling 35.21 tons, which did not exceed the regulatory limits[137] - The company operates four activated carbon adsorption towers for waste gas treatment, which are functioning normally[139] - The company has achieved compliance in wastewater treatment across multiple facilities, ensuring environmental standards are met[140] Corporate Governance - The company has established a modern corporate governance structure with clear responsibilities and effective checks and balances[183] - Independent directors constitute over one-third of the board, ensuring compliance with legal and regulatory requirements[183] - The company plans to further improve the performance evaluation and incentive mechanisms for senior management based on annual financial status and operational results[190] Shareholder Commitments - The actual controller and major shareholders have committed to not transferring or entrusting the management of their shares for 36 months post-IPO[83] - The controlling shareholder has committed to increase their shareholding by at least 20% of the after-tax cash dividends and salary received from the company in the previous fiscal year[89] - The company has detailed commitments from various shareholders regarding the management of their shares to prevent conflicts of interest[82] Financial Management - The company has approved a loan of up to RMB 140 million from its controlling shareholder, Xue Gewen, to address short-term funding needs[128] - The total amount of guarantees provided by the company, including those to subsidiaries, is RMB 249.46 million, which accounts for 16.35% of the company's net assets[131] - The company has invested RMB 260 million in a principal-protected floating income financial product using temporarily idle raised funds[133] Employee and Management Practices - The number of employees in the parent company is 1,793, while the number in major subsidiaries is 2,687, totaling 4,480 employees[177] - The company has a competitive and equitable compensation system, adjusting salaries based on market levels and internal evaluations[179] - The training program focuses on enhancing professional skills for technical and sales personnel, as well as leadership development for core positions[180]

Financial Performance - Net profit attributable to shareholders decreased by 8.43% to CNY 82,981,031.76 for the first nine months of the year[5] - Revenue for the first nine months rose by 6.32% to CNY 1,347,436,190.77 compared to the same period last year[5] - The weighted average return on equity decreased by 0.85 percentage points to 5.80%[5] - Basic earnings per share decreased by 8.82% to CNY 0.31[5] - The company reported a net profit of CNY 148,065,804.14 for the first nine months of 2019, compared to CNY 135,661,205.07 in the same period last year, indicating an increase of approximately 9.4%[21] - Total profit for the first three quarters of 2019 was ¥108,016,392.94, down 12.5% from ¥123,539,228.05 in the first three quarters of 2018[24] Assets and Liabilities - Total assets increased by 6.30% to CNY 2,703,513,233.20 compared to the end of the previous year[5] - Total liabilities amounted to CNY 1,226,598,497.48, up from CNY 1,132,600,277.15, indicating a growth of around 8.3%[16] - Owner's equity reached CNY 1,476,914,735.72, compared to CNY 1,410,644,397.71, showing an increase of about 4.7%[16] - Current liabilities rose to CNY 1,170,001,359.04 from CNY 1,080,816,446.04, reflecting an increase of approximately 8.3%[16] - The total number of shareholders reached 19,492 by the end of the reporting period[7] Cash Flow - Operating cash flow increased significantly by 138.19% to CNY 184,542,184.39 year-on-year[5] - Cash received from investment activities dropped by 68.82% from CNY 1,085,704,887.70 to CNY 338,519,418.20, primarily due to a decrease in financial product amounts[10] - The company reported a 78.25% increase in cash used for debt repayment, rising from CNY 252,455,197.22 to CNY 450,002,124.07, indicating higher bank loan repayments[11] - The company experienced a net cash flow from financing activities of -¥87,085,726.76, compared to -¥16,492,703.29 in the previous year, indicating increased cash outflows for financing[34] Investments and Expenses - Research and development expenses grew by 37.82% from CNY 46,237,124.13 to CNY 63,724,811.44, reflecting increased investment in R&D[10] - Investment income decreased by 75.79% from CNY 10,704,887.70 to CNY 2,591,788.20 due to a reduction in the amount of financial products purchased with raised funds[10] - The company invested ¥260,000,000.00 in the first three quarters of 2019, a decrease from ¥1,420,820,390.00 in the same period of 2018, indicating a strategic reduction in investment spending[34] Inventory and Fixed Assets - Inventory rose by 34.19% from CNY 302,644,946.61 to CNY 406,109,467.00, attributed to increased orders in the fourth quarter compared to the first quarter[9] - Fixed assets increased by 47.62% from CNY 500,744,648.61 to CNY 739,219,514.65 due to the completion of construction and equipment capitalization[9] - Inventory increased to CNY 183,405,942.54 from CNY 141,090,255.66, reflecting a rise of about 30%[19] Shareholder Information - The largest shareholder, Xue Gewen, holds 43.12% of the shares, with 118,129,200 shares pledged[8] - The company's capital stock increased by 42.85% from CNY 191,800,000.00 to CNY 273,985,000.00, resulting from capital reserves being converted into shares and new capital contributions[9] Other Information - The company has not disclosed any new product developments or market expansion strategies in this report[5] - Long-term investments remained stable at CNY 376,064,078.00, unchanged from the previous year[19] - The company maintains a strong capital reserve of CNY 819,559,659.82, supporting future investments and growth strategies[39]