Financial Performance - The company's operating revenue for Q3 2022 was ¥281,430,194.02, representing a decrease of 5.52% compared to the same period last year[5]. - Net profit attributable to shareholders was ¥49,197,177.86, an increase of 19.27% year-on-year[5]. - The net profit after deducting non-recurring gains and losses was ¥43,075,250.04, up by 20.97% compared to the previous year[5]. - The basic earnings per share for the quarter was ¥0.34, reflecting a year-on-year increase of 17.24%[6]. - Net profit for Q3 2022 reached CNY 126,590,384.57, representing a 7.4% increase compared to CNY 118,344,260.89 in Q3 2021[21]. - The company reported a total profit of CNY 140,687,552.64 for Q3 2022, which is an increase of 6.5% from CNY 132,096,141.45 in Q3 2021[21]. - Operating profit for Q3 2022 was CNY 140,762,318.83, up from CNY 128,537,403.52 in Q3 2021, showing a growth of 9.6%[20]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,450,546,535.89, a decrease of 2.14% from the end of the previous year[6]. - As of September 30, 2022, total current assets amounted to RMB 1,757,187,614.38, down from RMB 1,948,404,980.39 at the end of 2021, indicating a decrease of about 9.8%[14]. - The company's cash and cash equivalents were RMB 608,846,272.46, a decline from RMB 668,265,878.83 at the end of 2021, representing a decrease of approximately 8.9%[14]. - Total liabilities decreased to RMB 936,401,992.26 from RMB 1,072,998,225.84, reflecting a reduction of approximately 13.7%[17]. - The company's total assets as of September 30, 2022, were RMB 2,450,546,535.89, slightly down from RMB 2,504,075,714.56 at the end of 2021, indicating a decrease of about 2.1%[17]. - Non-current assets totaled RMB 693,358,921.51, an increase from RMB 555,670,734.17, representing a growth of approximately 24.8%[16]. - The company's retained earnings rose to RMB 569,956,455.94 from RMB 486,243,256.37, marking an increase of about 17.2%[17]. - The total equity attributable to shareholders increased to RMB 1,514,144,543.63 from RMB 1,431,077,488.72, reflecting a growth of approximately 5.8%[17]. Cash Flow - The cash flow from operating activities for the year-to-date was ¥118,965,535.42, showing an increase of 11.58%[6]. - The company recorded a net cash inflow from operating activities of CNY 726,234,133.48 for the first three quarters of 2022, compared to CNY 519,568,648.72 in the same period of 2021, a growth of 39.8%[23]. - The net cash flow from operating activities for Q3 2022 was $118,965,535.42, an increase from $106,620,630.87 in Q3 2021, reflecting a growth of approximately 12.4%[24]. - The total cash inflow from investment activities was $745,328,015.82, down from $998,779,214.18 in the previous year, indicating a decrease of about 25.4%[24]. - The net cash flow from investment activities was negative at -$182,425,435.72, compared to a positive $2,250,494.23 in Q3 2021, showing a significant decline[24]. - Cash inflow from financing activities totaled $222,222,147.53, an increase from $167,925,000.00 in the same quarter last year, representing a growth of approximately 32.2%[24]. - The net cash flow from financing activities was -$3,201,431.40, an improvement from -$9,894,656.50 in Q3 2021, indicating a reduction in cash outflow[24]. - The total cash and cash equivalents at the end of Q3 2022 were $567,643,506.26, down from $636,065,896.56 at the end of Q3 2021, reflecting a decrease of about 10.8%[24]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 10,650[11]. - Major shareholders include Yang Jiuhong with a 44.08% stake and Chen Dinghong with an 18.89% stake[11]. Operating Costs and Expenses - Total operating costs for Q3 2022 were CNY 730,583,309.80, an increase of 4.8% from CNY 697,339,607.73 in Q3 2021[20]. - Research and development expenses for Q3 2022 amounted to CNY 41,607,600.52, slightly up from CNY 40,236,837.73 in Q3 2021, indicating a focus on innovation[20]. - The company’s financial expenses for Q3 2022 were CNY -32,630,032.70, significantly higher than CNY -5,021,820.44 in Q3 2021, suggesting increased financial costs[20]. - The company paid $119,215,050.22 in employee compensation and related cash payments, an increase from $97,419,872.01 in the previous year, marking a rise of approximately 22.3%[24]. - The cash paid for the acquisition of fixed assets and intangible assets was $257,753,451.54, significantly higher than $66,528,719.95 in Q3 2021, indicating a substantial increase in capital expenditures[24]. Inventory and Receivables - The company reported a decrease in inventory to RMB 273,365,642.79 from RMB 323,475,777.69, indicating a decline of about 15.5%[14]. - Accounts receivable increased to RMB 332,387,695.37 from RMB 306,500,857.68, showing a rise of about 8.4%[14]. Other Comprehensive Income - Other comprehensive income after tax for Q3 2022 was CNY -646,144.66, compared to CNY -573,688.05 in Q3 2021, indicating a decline in this area[21]. - The impact of exchange rate changes on cash and cash equivalents was positive at $29,428,181.85, compared to a negative impact of -$1,781,152.56 in Q3 2021, indicating a favorable currency effect[24].

Financial Performance - The company's operating revenue for the first half of 2022 was RMB 577,535,145.71, representing an increase of 11.27% compared to RMB 519,058,171.82 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was RMB 77,393,206.71, a slight increase of 0.38% from RMB 77,097,072.90 in the previous year[19]. - The net cash flow from operating activities decreased by 23.93% to RMB 64,489,185.94, down from RMB 84,773,811.13 in the same period last year[19]. - The net assets attributable to shareholders of the listed company increased by 2.54% to RMB 1,467,411,267.78 compared to RMB 1,431,077,488.72 at the end of the previous year[19]. - The basic earnings per share remained stable at RMB 0.54, unchanged from the same period last year[21]. - The diluted earnings per share also remained at RMB 0.54, consistent with the previous year[21]. - The weighted average return on net assets decreased by 0.49 percentage points to 5.26% from 5.75% in the same period last year[21]. - The basic earnings per share after deducting non-recurring gains and losses increased by 2.17% to RMB 0.47 from RMB 0.46 in the previous year[21]. - The company reported a non-recurring profit of 10,500,860.97, with a tax impact of 1,853,093.12[23]. - The total profit for the first half of 2022 was CNY 86,079,106.17, compared to CNY 85,972,119.50 in the previous year, indicating a marginal increase of 0.1%[138]. Market and Industry Trends - The PCB industry is experiencing a market demand decline, with an average capacity utilization rate of only 70% and a revenue drop of over 5% year-on-year in Q2 2022[33]. - The global PCB market is projected to grow at a compound annual growth rate (CAGR) of 4.8%, reaching a value of $101.6 billion by 2026[36]. - The company is focusing on high-end product categories and smart manufacturing to address the evolving demands of the PCB market[37]. - The company is expanding into high-growth sectors such as high-end consumer electronics, automotive electronics, and communications[27]. Operational Strategies - The company utilizes a mixed procurement model of "order-based" and "inventory procurement" to mitigate raw material price fluctuations[28]. - The company’s production is primarily customized based on client orders, employing a combination of in-house production and outsourcing[29]. - The company’s sales strategy focuses on direct sales, with a small portion through distributors, ensuring compliance with customer requirements[30]. - The company aims to enhance product quality and operational efficiency through a comprehensive quality control system[29]. - The company has diversified its product offerings to meet customer demands for "one-stop procurement," with projects for high-precision multilayer boards and HDI boards now in production[41]. - The company has established a comprehensive sales service network with 13 domestic and 3 international service locations, ensuring timely and efficient customer support[43]. - The company has successfully completed the "annual production of 1 million square meters of thick copper printed circuit boards" project, enhancing its production capacity and solidifying its core competitive position in the industry[46]. Financial Position and Assets - The company's total current assets as of June 30, 2022, were CNY 1,868,312,263.02, down from CNY 1,948,404,980.39 at the beginning of the period, representing a decrease of approximately 4.1%[126]. - The company's total non-current assets increased to CNY 634,591,523.68 from CNY 555,670,734.17, reflecting an increase of about 14.2%[127]. - Total liabilities decreased to CNY 1,035,492,518.92 from CNY 1,072,998,225.84, indicating a reduction of approximately 3.5%[128]. - The company's total equity attributable to shareholders rose to CNY 1,467,411,267.78 from CNY 1,431,077,488.72, marking an increase of around 2.5%[128]. - Cash and cash equivalents at the end of the period were CNY 616,884,970.17, down from CNY 668,265,878.83, showing a decrease of about 7.7%[126]. - The company’s accounts receivable increased to CNY 334,970,560.59 from CNY 306,500,857.68, representing an increase of approximately 9.3%[126]. - The company’s inventory decreased to CNY 281,526,775.73 from CNY 323,475,777.69, reflecting a decrease of about 12.9%[126]. Risks and Challenges - The company faces risks from intensified market competition as the global PCB industry shifts focus from Europe and the US to Asia, particularly China[63]. - The company is exposed to exchange rate risks, particularly with the sensitivity of its gross margin to fluctuations in the USD/RMB exchange rate due to increasing overseas sales[66]. - The company has identified potential risks related to environmental compliance, which may increase operational costs and impact performance[67]. - The company is at risk of losing core personnel, which is critical in a capital and technology-intensive industry[70]. Environmental and Social Responsibility - The company has a wastewater treatment capacity of 1,800 cubic meters per day, ensuring compliance with environmental standards[84]. - The actual wastewater discharge for the first half of the year was 216,811 tons, within the permitted limits[79]. - The company has established a comprehensive environmental risk prevention system and emergency response plans to manage pollution[78]. - The company has successfully passed the ISO14001 environmental management system certification, demonstrating its commitment to environmental protection[90]. - The company actively engaged in social responsibility initiatives, including support for pandemic prevention efforts through volunteer work and donations[49]. Shareholder and Governance Matters - The actual controllers and major shareholders have committed to a 36-month lock-up period for their shares post-IPO, with a minimum selling price not lower than the issuance price[93]. - Major shareholders have committed to not transferring their shares for 36 months post-IPO, with specific conditions for any future sales[98]. - The company has established strict regulations to avoid competition with its controlling shareholders and related parties, ensuring no similar business activities are conducted[96]. - The company commits to repurchase all newly issued shares if there are false statements or omissions in the prospectus that materially affect the judgment of compliance with legal issuance conditions[101]. Accounting and Financial Reporting - The company's financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring a true and complete reflection of its financial status[176]. - The company has confirmed its ability to continue as a going concern for the next six months, with no significant doubts identified[175]. - The company’s accounting period runs from January 1 to December 31 each year[177]. - The company’s functional currency for accounting purposes is Renminbi[180].

Financial Performance - The company's operating revenue for Q1 2022 was ¥277,152,022.37, representing an increase of 8.02% compared to the same period last year[5]. - The net profit attributable to shareholders decreased by 14.48% to ¥33,375,725.04[5]. - The net profit after deducting non-recurring gains and losses was ¥29,181,048.80, down 18.04% year-on-year[5]. - Basic and diluted earnings per share were both ¥0.23, reflecting a decrease of 14.81%[6]. - The weighted average return on equity was 2.31%, a decrease of 0.64 percentage points from the previous year[6]. - The net profit for Q1 2022 was CNY 33,375,725.04, a decrease of 14.3% compared to CNY 39,027,905.67 in Q1 2021[20]. - Operating profit for Q1 2022 was CNY 36,980,301.40, down from CNY 43,632,797.69 in the same period last year, reflecting a decline of 15.1%[20]. - The total comprehensive income for Q1 2022 was CNY 33,108,317.86, down from CNY 39,021,958.90 in the same quarter last year[21]. - The company incurred financial expenses of CNY 1,445,851.36, compared to a financial income of CNY 4,255,850.64 in Q1 2021[20]. - The company’s tax expenses for Q1 2022 were CNY 3,588,826.91, a decrease from CNY 4,631,416.92 in Q1 2021[20]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,452,427,063.43, down 2.06% from the end of the previous year[6]. - Total current assets amounted to RMB 1,839,910,729.64, down from RMB 1,948,404,980.39 at the end of 2021, a decrease of 5.6%[15]. - Total liabilities as of March 31, 2022, were RMB 988,241,256.85, a decrease from RMB 1,072,998,225.84 at the end of 2021, reflecting a reduction of 7.9%[17]. - Total assets as of March 31, 2022, were RMB 2,452,427,063.43, down from RMB 2,504,075,714.56 at the end of 2021, indicating a decline of 2.1%[17]. - Non-current assets totaled RMB 612,516,333.79 as of March 31, 2022, an increase from RMB 555,670,734.17 at the end of 2021, representing an increase of 10.2%[16]. - Cash and cash equivalents decreased to RMB 586,051,360.78 from RMB 668,265,878.83, a decline of 12.3%[15]. Operating Activities - The net cash flow from operating activities was ¥41,857,315.16, a decline of 28.04% compared to the previous year[5]. - Cash flow from operating activities netted CNY 41,857,315.16, down 28.0% from CNY 58,167,703.79 in Q1 2021[24]. - Investment activities resulted in a net cash outflow of CNY 71,435,613.81, compared to a net inflow of CNY 41,152,848.10 in the previous year[25]. - The company reported a cash and cash equivalents balance of CNY 532,183,710.34 at the end of Q1 2022, down from CNY 621,988,070.67 at the end of Q1 2021[25]. Shareholder Information - The equity attributable to shareholders increased by 2.31% to ¥1,464,185,806.58 compared to the end of the previous year[6]. - The total number of ordinary shareholders at the end of the reporting period was 11,767[11]. Future Outlook - The company reported a net profit margin improvement, with net profit for Q1 2022 expected to be higher than in Q1 2021, although specific figures were not disclosed[19]. - The company plans to focus on market expansion and new product development in the upcoming quarters, although detailed strategies were not provided in the report[19].

Financial Performance - In 2021, the company's operating revenue reached RMB 1,070,718,955.04, representing a year-on-year increase of 21.37%[21]. - The net profit attributable to shareholders was RMB 142,720,760.27, reflecting a growth of 14.39% compared to the previous year[21]. - The cash flow from operating activities amounted to RMB 201,132,611.61, an increase of 28.94% year-on-year[21]. - The total assets of the company at the end of 2021 were RMB 2,504,075,714.56, up 34.26% from the previous year[21]. - The total profit amounted to CNY 159,351,300, reflecting a year-on-year growth of 12.58%[69]. - The net profit after deducting non-recurring gains and losses was RMB 114,910,374.82, which is a 10.44% increase from the previous year[21]. - The company's total revenue for the year was approximately CNY 1,035.69 million, an increase of 28.77% compared to the previous year[75]. - The gross profit margin decreased by 4.33 percentage points to 22.28% from 21.60% year-on-year[75]. - The company reported a revenue of 1.5 billion in 2021, representing a year-over-year growth of 15%[126]. - The company provided guidance for 2022, expecting revenue growth of 10% to 1.65 billion[126]. Dividends and Share Capital - The company plans to distribute a cash dividend of 3.00 RMB per 10 shares, totaling 42,877,185.00 RMB (including tax) for the year 2021[6]. - The company will not conduct capital reserve transfers to increase share capital or issue bonus shares for the year 2021[6]. - The company’s total share capital will remain unchanged despite potential adjustments due to convertible bonds or share repurchases[6]. Audit and Compliance - The financial report has been audited by Dahua Certified Public Accountants, which issued a standard unqualified opinion[5]. - The company has maintained strict information disclosure practices, ensuring timely and accurate reporting without any regulatory penalties for violations[115]. - The company has not faced any penalties from securities regulatory agencies in the past three years[134]. - The company has not reported any violations or penalties involving its directors, supervisors, senior management, or controlling shareholders during the reporting period[200]. Market and Product Development - The company is expanding into high-end consumer electronics, with products already in mass production for brands like Sony and Nintendo, and is investing in a new 15,000 square meter factory to meet increasing order demands, expected to be operational by Q2 2022[33]. - The company has established itself as a core supplier in the supply chains of traditional customers, receiving recognition from major clients such as Midea and Haier, and has secured key supplier status for multiple projects with German companies BSH and Diehl[32]. - The company is focusing on building smart factories to improve production quality and efficiency through digitalization and automation[102]. - The company is actively pursuing automation and smart manufacturing upgrades to meet the increasing technological demands in the PCB industry[91]. - The company is exploring partnerships with tech firms to leverage AI in product development, enhancing competitive advantage[131]. Environmental and Social Responsibility - The company is increasing investments in environmental protection and energy-saving measures, implementing real-time monitoring for wastewater management and adopting low-emission technologies in new projects[39]. - The company was recognized as a key pollutant discharge unit in Changzhou for 2021, implementing strict environmental protection measures to ensure pollutant emissions meet standards[159]. - The company has achieved ISO 14001 environmental management system certification, demonstrating its commitment to environmental protection[171]. - The company actively engaged in social responsibility initiatives, supporting local charities and community development[180]. Governance and Management - The company has established a governance structure in compliance with relevant laws and regulations, holding one annual and one extraordinary shareholders' meeting during the reporting period[113]. - The board of directors consists of 7 members, including 3 independent directors, and held 9 meetings in the reporting period, adhering to legal and regulatory requirements[114]. - The company has established a robust internal control management system in compliance with regulations, enhancing decision-making efficiency and ensuring legal compliance for business operations[157]. - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to 9.74 million yuan[132]. Risks and Challenges - The company reported no significant risks that could materially affect its operations during the reporting period[8]. - The company faces pressure on profit margins due to soaring prices of upstream raw materials like copper foil and copper clad laminates[31]. - The company is facing environmental risks due to the nature of PCB production, which involves processes that generate waste and require significant environmental compliance[107]. - The company operates in a capital and technology-intensive industry, facing risks of core personnel turnover due to intense competition for talent[111]. Future Outlook - Future outlook indicates a projected revenue growth of 15% for the next fiscal year[123]. - The management aims to increase production capacity by 27% to meet rising demand[123]. - The company plans to enhance its digital marketing strategy, allocating 974 million for digital transformation[123]. - The company is considering strategic acquisitions to enhance its market position, targeting firms with a combined revenue of 22.17 million[123].

Financial Performance - The company's operating revenue for Q3 2021 was CNY 297,858,486.41, representing a year-on-year increase of 15.11%[5] - The net profit attributable to shareholders for Q3 2021 was CNY 41,247,187.99, a significant increase of 70.18% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2021 was CNY 35,608,594.68, up 58.13% year-on-year[5] - The company reported a year-to-date net profit increase of 39.08% primarily due to significant revenue growth and increased investment income[10] - Total operating revenue for the first three quarters of 2021 reached ¥816,916,658.23, an increase of 25% compared to ¥653,232,494.18 in the same period of 2020[20] - Net profit for the first three quarters of 2021 was ¥118,344,260.89, compared to ¥85,090,022.90 in 2020, representing a growth of 39%[21] - The company reported a total comprehensive income of ¥117,770,572.84 for the first three quarters of 2021, compared to ¥85,446,490.71 in 2020, indicating a growth of 38%[22] Cash Flow and Investments - The cash flow from operating activities for the year-to-date period increased by 43.49%, totaling CNY 106,620,630.87[6] - Net cash flow from operating activities was $106,620,630.87, an increase of 43.4% compared to $74,304,998.31 in the previous year[25] - Total cash inflow from investment activities reached $998,779,214.18, significantly higher than $75,333,095.89 in the same period last year[25] - Cash outflow for investment activities was $996,528,719.95, compared to $98,872,106.07 in the previous year, resulting in a net cash flow of $2,250,494.23 from investment activities[25] - Cash inflow from financing activities totaled $167,925,000.00, up from $160,000,000.00 year-over-year[26] - The ending balance of cash and cash equivalents was $636,065,896.56, compared to $418,475,428.76 at the end of the same quarter last year, reflecting a significant increase[26] - The company received $980,000,000.00 from investment recoveries, a substantial rise from $75,000,000.00 in the previous year[25] Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,302,558,479.54, reflecting a 23.46% increase from the end of the previous year[6] - As of September 30, 2021, the company's total current assets amounted to ¥1,936,687,852.21, an increase from ¥1,659,083,093.81 at the end of 2020, representing a growth of approximately 16.7%[16] - The company's total assets reached ¥2,302,558,479.54, up from ¥1,865,076,542.30 at the end of 2020, indicating a growth of about 23.4%[17] - Total liabilities as of September 30, 2021, were ¥895,712,107.56, compared to ¥561,708,348.16 at the end of 2020, representing an increase of approximately 59.5%[18] - The company's total liabilities and equity reached ¥2,302,558,479.54 as of the end of the third quarter of 2021, compared to ¥1,865,076,542.30 in 2020[19] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 14,162[12] - The largest shareholder, Yang Jiuhong, holds 44.08% of the shares, totaling 63,000,000 shares[12] Research and Development - Research and development expenses for the first three quarters of 2021 amounted to ¥40,236,837.73, up from ¥33,905,610.22 in 2020, marking an increase of 18%[20] Employee Compensation - The company reported a decrease in employee compensation payable to ¥30,638,329.97 from ¥34,498,928.22, a decline of approximately 11.1%[18] - Cash paid to employees was $97,419,872.01, up from $79,473,359.99 year-over-year, reflecting a growth in workforce compensation[25] Market and Product Development - The company has not disclosed any new product developments or market expansion strategies in the current report[10] - There were no significant mergers or acquisitions reported in the third quarter of 2021[15]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥519,058,171.82, representing a 31.59% increase compared to ¥394,463,613.46 in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2021 was ¥77,097,072.90, up 26.70% from ¥60,852,209.11 in the previous year[21]. - The net cash flow from operating activities increased significantly by 234.70%, reaching ¥84,773,811.13 compared to ¥25,328,555.94 in the same period last year[21]. - The total assets as of the end of the reporting period were ¥2,093,232,013.37, a 12.23% increase from ¥1,865,076,542.30 at the end of the previous year[21]. - The net assets attributable to shareholders at the end of the reporting period were ¥1,365,748,511.81, reflecting a 4.79% increase from ¥1,303,368,194.14 at the end of the previous year[21]. - Basic earnings per share for the first half of 2021 were ¥0.54, a decrease of 5.26% compared to ¥0.57 in the same period last year[22]. - The weighted average return on equity decreased to 5.75%, down 4.11 percentage points from 9.86% in the previous year[22]. - The company reported a total revenue of 1,365,748,511.8 for the period, showing a significant increase compared to the previous year[175]. - The net profit attributable to the parent company was 586,636,397.58, reflecting strong financial performance[175]. Market and Industry Insights - The PCB industry in China is projected to achieve a market value of 36.36 billion USD in 2021, solidifying its position as the world's largest production base for PCBs[34]. - The PCB application market is dominated by communication electronics (33.00%), computers (29.60%), and consumer electronics (14.80%), collectively accounting for 77.40% of the market[36]. - The PCB industry is expected to see a compound annual growth rate that outpaces global averages, driven by advancements in 5G, AI, and IoT technologies[37]. - The global automotive electronics market is projected to reach $337.9 billion by 2022, with a CAGR of 7.08% from 2017 to 2022[49]. - The company is focusing on deepening relationships with traditional markets while exploring new sectors such as new energy products and high-end consumer electronics[69]. Operational Strategies - The company employs a "make-to-order" production model, ensuring timely delivery and customization based on client specifications[29]. - The company has implemented a comprehensive procurement strategy to mitigate raw material price fluctuations, ensuring a stable supply chain[28]. - The company is committed to continuous technological innovation, enhancing product precision and reliability to meet diverse customer needs[33]. - The company has established long-term stable partnerships with leading enterprises in various sectors, enhancing its market position[56]. - The company is actively advancing a project to produce 1.2 million square meters of high-precision multilayer boards, expected to be completed by the end of 2021, which will alleviate capacity constraints[67]. Environmental and Compliance Measures - The company has strengthened its environmental management by investing in new wastewater treatment technologies and reducing emissions significantly[71]. - The company is classified as a key pollutant discharge unit, with wastewater discharge of 201,106 tons in the first half of the year, adhering to national environmental standards[95]. - The company has established comprehensive environmental risk prevention measures and emergency plans to ensure compliance with environmental regulations[95]. - The company has passed the ISO 14001 environmental management system certification, demonstrating its commitment to environmental protection[106]. - The company has implemented effective measures to minimize the environmental impact of its production processes[100]. Shareholder and Governance Information - The controlling shareholders and actual controllers have committed to avoiding competition with the company and its subsidiaries[113]. - Major shareholders holding over 5% of shares have committed to not reducing their holdings below the issuance price within two years after the lock-up period[116]. - The company has established strict regulations for related party transactions, including decision-making authority and avoidance voting systems[115]. - The company has not reported any significant quality disputes or lawsuits during the reporting period, indicating a stable quality control process[85]. - The company has not disclosed any major related party transactions during the reporting period[126]. Future Outlook and Strategic Plans - The company plans to invest ¥716,010,200.00 in high-precision multilayer boards, with ¥66,100,815.64 allocated during the reporting period[78]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its offerings[175]. - Future guidance suggests a positive outlook with expected revenue growth of approximately 10% year-over-year[175]. - The company is focusing on enhancing its technological capabilities through ongoing research and development initiatives[175]. - The company is exploring new strategies for market expansion, although specific details were not disclosed in the report[170].

Financial Performance - Operating revenue rose by 53.81% to CNY 256,575,232.16 year-on-year[5] - Net profit attributable to shareholders increased by 50.78% to CNY 35,604,793.60 compared to the same period last year[5] - Basic earnings per share increased by 22.73% to CNY 0.27[5] - Total revenue for Q1 2021 reached RMB 256,575,232.16, an increase of 53.81% compared to RMB 166,816,747.09 in the same period last year[12] - The company's net profit for Q1 2021 was ¥43,750,095.10, compared to a net profit of ¥28,367,926.92 in Q1 2020, reflecting a growth of approximately 54.0%[22] - The total profit for Q1 2021 was ¥43,659,322.59, an increase of 54.4% from ¥28,277,627.03 in Q1 2020[24] Cash Flow - Cash flow from operating activities surged by 3,439.08% to CNY 58,167,703.79 year-on-year[5] - The company reported a net cash flow from investment activities of RMB 41,152,848.10, a notable recovery from a negative cash flow of RMB -21,791,119.22 in the previous year[13] - The net cash flow from operating activities for Q1 2021 was ¥58,167,703.79, a significant increase compared to ¥1,643,581.03 in Q1 2020[28] - Total cash inflow from investment activities was ¥232,209,878.10, compared to ¥25,072,191.78 in the previous year, indicating a strong recovery in investment returns[31] - The company reported a total cash outflow from financing activities of ¥26,488,446.24, compared to ¥2,735,271.33 in the previous year, reflecting increased financial obligations[29] Assets and Liabilities - Total assets increased by 7.88% to CNY 2,012,022,213.82 compared to the end of the previous year[5] - The company's total assets as of March 31, 2021, amounted to RMB 2,012,022,213.82, up from RMB 1,865,076,542.30 at the end of 2020[17] - Total liabilities increased to ¥669,632,060.78 in Q1 2021 from ¥561,708,348.16 in Q4 2020, representing a growth of approximately 19.2%[21] - The company's equity attributable to shareholders rose to ¥1,342,390,153.04 in Q1 2021 from ¥1,303,368,194.14 in Q4 2020, an increase of about 3.0%[21] Shareholder Information - The number of shareholders reached 17,202 at the end of the reporting period[10] - The top shareholder, Yang Jiuhong, holds 44.08% of the shares, totaling 63,000,000 shares[10] Research and Development - Research and development expenses increased by 34.16% to RMB 11,792,710.50, indicating a focus on innovation and product development[13] - Research and development expenses for Q1 2021 were ¥11,792,710.50, compared to ¥8,790,286.18 in Q1 2020, indicating an increase of approximately 34.1%[22] Operational Efficiency - Operating costs rose to RMB 186,528,009.03, reflecting a 58.19% increase from RMB 117,912,842.41, primarily due to increased sales revenue[12] - The cash flow from sales of goods and services was ¥104,475,533.21, a substantial increase from ¥66,285,430.41 in Q1 2020[31] - The cash flow from other operating activities was ¥4,109,896.61, up from ¥1,845,425.66 in Q1 2020, indicating improved operational efficiency[31] Market Strategy - The company has not disclosed any new product developments or market expansion strategies in this report[5] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[22]

Financial Performance - The company's operating revenue for 2020 was ¥882,229,516.50, representing a year-over-year increase of 4.45% compared to ¥844,606,387.32 in 2019[22]. - Net profit attributable to shareholders was ¥124,768,899.06, a slight increase of 0.61% from ¥124,012,054.67 in the previous year[22]. - The net cash flow from operating activities reached ¥155,993,792.07, marking a 9.89% increase from ¥141,960,156.43 in 2019[22]. - Total assets at the end of 2020 were ¥1,865,076,542.30, a significant increase of 65.41% from ¥1,127,561,612.56 at the end of 2019[25]. - The net assets attributable to shareholders rose to ¥1,303,368,194.14, reflecting a substantial growth of 122.18% compared to ¥586,636,397.58 at the end of 2019[25]. - Basic earnings per share decreased by 5.17% to ¥1.10 in 2020 from ¥1.16 in 2019[23]. - The weighted average return on equity dropped to 16.69%, down 6.95 percentage points from 23.64% in the previous year[23]. - The company reported a total of ¥20,718,587.88 in non-recurring gains for 2020, compared to ¥10,617,815.29 in 2019[30]. - The fourth quarter revenue was ¥228,997,022.32, with a net profit attributable to shareholders of ¥39,678,876.16[27]. - For the full year of 2020, the company achieved revenue of CNY 882 million, a year-on-year growth of 4.45%, and net profit of CNY 125 million, slightly increasing compared to the previous year[57]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 1.00 RMB per 10 shares, totaling 14,292,395.00 RMB (including tax) for the year 2020[4]. - The company declared a cash dividend of 1.00 yuan per 10 shares for the year 2020, with a net profit attributable to ordinary shareholders of 124,768,899.06 yuan, resulting in a profit distribution ratio of 11.46%[110]. - The actual controllers and major shareholders committed to not transferring or entrusting the management of their shares for 36 months post-listing, with specific conditions for share reduction thereafter[113]. - Major shareholders committed to not reducing their holdings below the issuance price during the lock-up period, with specific conditions for any future share reductions[118]. - The company has committed to a stock price stabilization plan to protect investor rights, with specific measures outlined for management and shareholders if stabilization actions are not taken[119]. Market and Industry Insights - The PCB industry in China achieved a market value of 34.8 billion USD in 2020, accounting for 52.41% of the global PCB industry[36]. - The global automotive electronics market reached 230 billion USD in 2017, with a compound annual growth rate of 7.38% from 2012 to 2017[48]. - The power industry in China had a market value of 256.1 billion RMB in 2019, reflecting a year-on-year growth rate of 5.96%[45]. - The communication equipment market in China was valued at 29.5 billion RMB in 2019, with significant growth expected due to the rollout of 5G technology[46]. - The demand for high-density interconnect (HDI) technology is rising, reflecting the trend towards high-density and high-performance PCB products[95]. Operational and Production Strategies - The company employs a "make-to-order" production model to meet the customized needs of clients, ensuring timely delivery of products[34]. - The company has expanded its outsourcing processing units from 3 in 2019 to 7 in 2020 to address production capacity limitations[58]. - The company has implemented automation upgrades in production to enhance efficiency and product quality, including the adoption of AGV automated logistics systems[58]. - The company aims to enhance product quality and efficiency through lean production management, ultimately reducing manufacturing costs[98]. - The company plans to construct a new factory with an area of approximately 15,000 square meters and add one fully automated thick copper board production line to meet the growing demand from global customers[101]. Research and Development - The company invested in new technologies to reduce nitrogen wastewater emissions and improve environmental management[60]. - Research and development expenses increased by 9.33% year-on-year, totaling 45,049,448.03 CNY[63]. - The company’s investment in research and development for high-end PCB products is expanding, with a focus on multilayer boards and HDI boards[84]. - The number of R&D personnel is 166, making up 15.69% of the total workforce[79]. - The total R&D expenditure is 45,049,448.03 CNY, accounting for 5.11% of total operating revenue[79]. Environmental and Safety Management - The company has implemented an environmental management system and received ISO14001:2015 certification, focusing on green production and waste management[144]. - The company has conducted emergency response drills and training to ensure workplace safety, achieving ISO45001:2018 certification[143]. - The wastewater discharge from Aohong Electronics was 347,939 tons, with a total pollutant discharge of 87.07 tons/year for chemical oxygen demand, 0.13 tons/year for total copper, and 9.52 tons/year for ammonia nitrogen, all within the permitted limits[146]. - The company has implemented a comprehensive environmental monitoring scheme, with wastewater monitored every four hours and air emissions monitored semi-annually by third-party qualified units[153]. Corporate Governance and Compliance - The company has established a comprehensive corporate governance structure to ensure fair treatment of all shareholders and timely information disclosure[142]. - The company has maintained compliance with corporate governance regulations, ensuring independence from its controlling shareholder[200]. - The company has established strict regulations to avoid and reduce related party transactions, ensuring effective external supervision[117]. - There were no significant lawsuits or arbitration matters during the reporting period[130]. - The company did not face any risks of suspension or termination of listing during the reporting period[130]. Future Outlook and Strategic Initiatives - The company plans to utilize the funds raised from its initial public offering to enhance liquidity and support future growth initiatives[25]. - Future outlook indicates a focus on expanding market presence and enhancing product offerings, with a target revenue growth of 10% for the upcoming fiscal year[170]. - The management highlighted a commitment to technology advancements, with an investment of CNY 100 million in R&D for new technologies[172]. - The company aims to increase its market share by 5% in the next year through targeted marketing strategies and customer engagement[171]. - The company plans to explore strategic acquisitions to bolster its market position, with a budget allocation of CNY 500 million for potential mergers and acquisitions[172].