Financial Performance - The company's operating revenue for Q1 2023 was CNY 658,120,697.60, representing an increase of 82.52% compared to the same period last year[6]. - The net profit attributable to shareholders decreased by 12.96% to CNY 29,851,267.41[6]. - The basic earnings per share for the period was CNY 0.15, down 42.31% year-on-year[7]. - Total operating revenue for Q1 2023 reached ¥658,120,697.60, a significant increase of 82.5% compared to ¥360,568,316.26 in Q1 2022[22]. - Net profit for Q1 2023 was ¥29,851,521.74, a decrease of 13.3% from ¥34,294,428.21 in Q1 2022[23]. - Basic and diluted earnings per share for Q1 2023 were both ¥0.15, down from ¥0.26 in Q1 2022[24]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,837,255,822.02, an increase of 3.36% from the end of the previous year[7]. - As of March 31, 2023, the company's total current assets amounted to ¥1,576,634,717, an increase from ¥1,494,694,033 in the previous year[18]. - Total liabilities as of March 31, 2023, were ¥1,605,172,911.47, compared to ¥1,549,006,612.46 in the previous year[20]. - The company's total assets reached ¥2,837,255,822.02, up from ¥2,745,130,664.23[20]. - The company's equity attributable to shareholders increased to ¥1,232,063,774.83 from ¥1,196,104,481.84, showing a growth of approximately 3%[20]. - The short-term borrowings rose to ¥540,096,833.25 from ¥482,585,285.26, indicating an increase of about 11.9%[19]. Cash Flow - The company reported a net cash flow from operating activities of CNY 40,858,890.43, an increase of 15.65%[6]. - Cash flow from operating activities for Q1 2023 was ¥40,858,890.43, compared to ¥35,329,602.58 in Q1 2022, indicating a positive trend[26]. - Cash inflow from investment activities in Q1 2023 was ¥156,060.00, a decrease from ¥171,937,831.39 in Q1 2022[26]. - Cash outflow from investment activities for Q1 2023 totaled ¥72,942,412.31, down from ¥126,681,145.21 in Q1 2022[26]. - Cash flow from financing activities in Q1 2023 was ¥79,264,592.19, with cash inflow of ¥281,989,086.02 and outflow of ¥202,724,493.83[26]. - The net increase in cash and cash equivalents for Q1 2023 was $45,621,784.29, compared to $80,405,839.67 in the same period last year[27]. Operating Costs and Expenses - The increase in operating costs was 93.32%, primarily due to the consolidation of Zhongde Cable into the financial statements[11]. - Total operating costs for Q1 2023 were ¥624,528,816.25, up 96.3% from ¥317,813,549.98 in Q1 2022[22]. - Research and development expenses rose by 59.68%, reflecting ongoing investment in R&D[11]. - Research and development expenses for Q1 2023 were ¥16,615,488.31, an increase of 59.5% from ¥10,405,457.71 in Q1 2022, indicating a focus on innovation[22]. - The company reported a tax expense of ¥7,194,401.53 for Q1 2023, compared to ¥10,437,946.30 in Q1 2022, reflecting a decrease in tax burden[23]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 17,718[14]. - The largest shareholder, Leqing Lixin Holdings Co., Ltd., holds 28.82% of the shares[14]. Future Outlook - The net profit for the first quarter of 2023 is yet to be disclosed, but the company is expected to provide guidance in future reports[21]. - The company is focusing on expanding its market presence and developing new technologies, although specific details were not disclosed in the current report[21].

2022年年度报告 公司代码：605277 公司简称：新亚电子 新亚电子股份有限公司 2022 年年度报告 ...

Financial Performance - The company's operating revenue for the first half of 2022 was ¥742,254,776.73, representing a 3.70% increase compared to ¥715,751,824.69 in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2022 was ¥86,718,256.86, a decrease of 2.69% from ¥89,116,674.36 in the previous year[19]. - Basic earnings per share decreased by 31.34% to ¥0.46 from ¥0.67 in the previous year[20]. - The weighted average return on equity decreased to 7.32%, down from 8.46% in the same period last year, a reduction of 1.14 percentage points[20]. - The total assets at the end of the reporting period were ¥1,395,364,503.06, a slight increase of 0.53% from ¥1,388,067,041.45 at the end of the previous year[19]. - The net assets attributable to shareholders decreased by 3.61% to ¥1,114,212,417.18 from ¥1,155,916,248.87 at the end of the previous year[19]. - The company achieved operating revenue of 742.25 million yuan, a year-on-year increase of 3.70%[66]. - Net profit attributable to shareholders was 86.72 million yuan, a slight decrease of 2.69% year-on-year[58]. - Revenue from high-frequency data cables reached 50.91 million yuan, a significant increase of 72.03% year-on-year[59]. - Automotive electronic cables generated revenue of 35.94 million yuan, up 70.13% year-on-year, primarily from sales to new energy vehicle manufacturers[60]. Cash Flow and Investments - The net cash flow from operating activities increased significantly by 769.79%, reaching ¥52,416,638.07, compared to a negative cash flow of ¥7,825,847.13 in the same period last year[19]. - The company reported a financial expense of CNY -9,268,254.14 for the first half of 2022, a significant improvement compared to CNY 276,300.64 in the same period of 2021[138]. - The total cash inflow from investment activities was CNY 428,530,366.32, up from CNY 264,790,253.64 in the same period last year, marking an increase of approximately 61.8%[146]. - The company received CNY 425,000,000.00 from the recovery of investments, significantly higher than CNY 260,000,000.00 in the previous year, reflecting a growth of 63.5%[146]. - Cash flow from financing activities resulted in a net outflow of CNY -96,424,400.00, worsening from a net outflow of CNY -59,771,933.73 in the first half of 2021[146]. Business Operations and Strategy - The company’s main business is the research, manufacturing, and sales of fine electronic wires, including consumer electronics, industrial control wires, automotive electronic wires, high-frequency electronic wires, and special wires[24]. - The company has established a mature and stable business model that effectively controls operational risks and meets the needs of expanding business development[26]. - The procurement model is based on "sales-driven production" and "production-driven procurement," primarily sourcing raw materials like copper wire and PVC powder domestically[27][28]. - The company employs a direct sales model to shorten delivery cycles and reduce costs, maintaining close communication with core customers across various locations[41]. - The fine electronic wire market is expected to grow steadily due to increasing demand from emerging industries such as new energy vehicles and big data servers[47]. - The company has formed stable partnerships with well-known clients, including Haier, LG, and Sony, enhancing its market influence[55]. - The company plans to explore new application areas in healthcare, photovoltaics, and new energy technology to enhance growth points[63]. Research and Development - R&D expenses amounted to 24.47 million yuan, reflecting a year-on-year increase of 22.06%[60]. - The company has established a comprehensive quality management system, achieving certifications such as ISO13485 and IATF16949, which enhance product quality control[50]. - The company’s CNAS laboratory provides comprehensive testing services for new product development and certification, enhancing product reliability[53]. - The company has developed advanced manufacturing technologies that improve production speed and material utilization, breaking foreign brand monopolies in high-end wire products[54]. Shareholder and Equity Information - The company reported a total share capital of 136,424,400 shares before the recent changes, which increased to 189,629,916 shares after the capital increase[109]. - The company distributed a cash dividend of 1 yuan per share (including tax) and a capital reserve conversion of 0.39 shares for every share held, totaling 136,424,400 yuan in cash dividends and 53,205,516 shares in capital increase[111]. - The company has implemented an equity incentive plan with specific unlock arrangements to motivate key personnel[113]. - The total number of ordinary shareholders as of the end of the reporting period is 11,244[114]. - The largest shareholder, Leqing Lixin Holding Co., Ltd., holds 55,644,480 shares, representing 29.34% of total shares[116]. Legal and Compliance - The company had no significant litigation or arbitration matters during the reporting period, indicating a stable legal environment[99]. - There were no significant related party transactions reported during the period, suggesting a focus on independent operations[100]. - The company did not disclose any temporary announcements that were not previously reported, indicating transparency in its operations[101]. - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[98]. Financial Reporting and Accounting - The financial report for the first half of 2022 is included in the documentation[129]. - The financial statements are prepared in accordance with the enterprise accounting standards, reflecting the company's financial position and operating results accurately[175]. - The company adopts a short operating cycle, using 12 months as the standard for classifying the liquidity of assets and liabilities[177]. - The company's accounting currency is Renminbi (RMB)[178].

2022 年第一季度报告 证券代码：605277 证券简称：新亚电子 新亚电子股份有限公司 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 一、 主要财务数据 (一)主要会计数据和财务指标 | 项目 | 本报告期 | 本报告期比上年同期增减 | | --- | --- | --- | | | | 变动幅度(%) | | 营业收入 | 360,568,316.26 | 8.92 | | 归属于上市公司股东的净利润 | 34,294,428.21 | -6.09 | | 归属于上市公司股东的扣除非经常性 | 32,861,694.68 | 4.32 | | 损益的净利润 | | | | 经营 ...

Financial Performance - The company's operating revenue increased by 47.27% compared to the previous year, primarily due to increased demand from downstream customers and the transmission of rising copper prices to sales prices[21]. - Basic earnings per share for 2021 were CNY 1.26, representing a 5.88% increase from CNY 1.19 in 2020[21]. - The diluted earnings per share for 2021 also stood at CNY 1.26, consistent with the basic earnings per share[21]. - The net profit attributable to shareholders for the same period was RMB 16,849.07 million, an increase of 41.50% compared to the previous year[31]. - The company's operating revenue for 2021 reached RMB 147,392.57 million, representing a year-on-year growth of 47.27%[31]. - The net cash flow from operating activities increased by 58.66% year-on-year, amounting to RMB 8,086.35 million, primarily due to increased sales collections and tax refunds[22]. - The total assets at the end of 2021 were RMB 138,806.70 million, reflecting a year-on-year increase of 12.32%[31]. - The net assets attributable to shareholders at the end of 2021 were RMB 115,591.62 million, up 13.76% from the previous year[22]. - The company's operating costs increased by 49.79% to 1,158.19 million RMB, primarily due to rising demand from downstream customers and the transmission of copper price increases to sales prices[77]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 10.00 per 10 shares (including tax) and to increase capital reserves by 3.90 shares for every 10 shares held[6]. - The company distributed cash dividends of 0.3 yuan per share, totaling 40.03 million yuan to shareholders[37]. - For the 2021 fiscal year, the proposed dividend is 10 RMB per 10 shares, along with a capital reserve increase of 3.90 shares for every 10 shares held, pending shareholder approval[155]. Risk Management and Compliance - The company has detailed potential risks in the management discussion and analysis section of the report[8]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[8]. - The company has not violated decision-making procedures for providing guarantees[8]. - The company has not faced any penalties from securities regulatory authorities in the past three years[137]. - The company has not reported any significant deficiencies in internal control during the reporting period[162]. Research and Development - R&D expenses amounted to 41.26 million yuan, representing a 116.09% increase year-on-year[34]. - The company invested in R&D for new applications of fine electronic wires and next-generation high-speed cables for cloud servers, leading to increased R&D expenses[78]. - Total R&D investment accounted for 2.8% of operating revenue, with no capitalized R&D expenditures reported[91]. - The number of R&D personnel is 62, representing 8.26% of the total workforce[93]. Market and Product Development - The company is focusing on the development of high-frequency data cables and expanding into the automotive electronics and new energy sectors[31]. - The company aims to enhance its brand image and optimize product structure to capture market share and achieve high-quality growth[30]. - The company is focusing on high-end market strategies and expanding its product offerings in medical health, big data, and new energy sectors[34]. - The market for fine electronic wire materials is expected to grow steadily due to increasing demand in various sectors, including new energy vehicles and healthcare[42]. - The company is positioned to leverage the opportunities presented by the "14th Five-Year Plan" to drive growth in the consumer electronics cable industry[104]. Corporate Governance - The company has established a performance evaluation and incentive mechanism to enhance employee motivation and support its international development strategy[112]. - The company has a structured remuneration decision process based on responsibilities and company performance, ensuring alignment with shareholder interests[135]. - The company has maintained a focus on corporate governance, with independent directors actively participating in oversight roles[133]. - The company has engaged legal counsel to provide opinions on the resolutions passed during the shareholders' meetings[125]. Shareholder Structure and Incentives - The total number of shares held by the chairman and general manager, Zhao Zhanbing, remained unchanged at 26,628,558 shares, with a total pre-tax compensation of 1.0272 million yuan[127]. - The total number of shares held by the board members increased from 29,130,558 to 30,550,558 shares during the reporting period, reflecting a net increase of 1,420,000 shares due to the incentive plan[129]. - The company granted 2,984,400 restricted stock units to 99 incentive objects at a price of 10.79 RMB per share on June 18, 2021[191]. - The largest shareholder, Leqing Lixin Holdings Co., Ltd., held 40,032,000 shares, representing 29.34% of total shares[198]. Operational Efficiency - The implementation of the MES system has improved production efficiency, reducing order delivery cycles to 3-7 days compared to the industry standard of 1-2 weeks[68]. - The company has implemented strict quality control measures across its production processes to mitigate product quality risks[119]. - The company has established a stable business model that effectively controls operational risks and meets the needs of expanding business[47]. Social Responsibility - The company actively participated in social responsibility initiatives, contributing approximately 1.25 million CNY in charitable donations during the reporting period[167]. - The company engaged in poverty alleviation activities and established an employee mutual aid fund to support employees in need[168].

Financial Performance - The company's revenue for Q3 2021 reached ¥360,759,125.18, representing a year-on-year increase of 33.39%[6] - Net profit attributable to shareholders was ¥42,659,581.30, up 58.11% compared to the same period last year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥40,281,610.82, reflecting a growth of 50.72% year-on-year[6] - Year-to-date revenue reached ¥1,076,510,949.87, an increase of 58.93% compared to the previous year[6] - Year-to-date net profit attributable to shareholders was ¥131,776,255.66, which is a 66.40% increase year-on-year[6] - The basic and diluted earnings per share for the quarter were both ¥0.31, an increase of 14.81% compared to the same period last year[7] - The company's operating revenue for the first three quarters of 2021 reached ¥1,076,510,949.87, a significant increase of 58.93% compared to ¥677,363,083.44 in the same period of 2020[20] - The net profit for the first three quarters of 2021 was ¥131,776,255.66, representing a growth of 66.36% from ¥79,194,291.87 in the previous year[21] - The company’s total comprehensive income for the first three quarters was ¥131,776,255.66, compared to ¥79,194,291.87 in the same period last year, showing an increase of 66.36%[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,290,011,773.87, up 4.38% from the end of the previous year[7] - Total assets as of September 30, 2021, amounted to CNY 1,290,011,773.87, an increase from CNY 1,235,834,158.11 as of December 31, 2020[17] - The total liabilities decreased to ¥144,284,690.34 from ¥219,729,419.24, indicating a reduction of approximately 34.3% year-over-year[18] - The total equity increased to ¥1,145,727,083.53, up from ¥1,016,104,738.87, reflecting a growth of 12.73%[18] - The company reported a total of 10,031 common shareholders at the end of the reporting period[13] - The largest shareholder, Leqing Lixin Holdings Co., Ltd., holds 29.34% of the shares, totaling 40,032,000 shares[13] - The company has no preferred shares with voting rights as of the reporting date[13] - The top ten shareholders collectively hold a significant portion of the company's equity, indicating concentrated ownership[13] Cash Flow - Cash flow from operating activities showed a net outflow of ¥25,583,951.58, a decrease of 29.74% compared to the previous year[7] - The cash flow from operating activities was ¥669,617,237.50, compared to ¥424,687,469.62 in the previous year, marking a growth of 57.69%[22] - Net cash flow from operating activities was $25,583,951.58, down from $36,410,837.09, indicating a decline of about 29.7% year-over-year[23] - Cash flow from financing activities resulted in a net outflow of -$61,204,026.94, compared to -$41,271,069.81 in the prior year, indicating increased financing pressures[23] - The total cash and cash equivalents at the end of the period stood at $133,632,330.54, down from $45,674,955.39 year-over-year[23] Expenses - Research and development expenses for the first three quarters amounted to ¥33,009,626.00, which is a 159.88% increase compared to ¥12,702,461.51 in the same period of 2020[20] - The company’s sales expenses increased to ¥29,776,541.64 from ¥21,958,282.80, reflecting a rise of 35.6% year-over-year[20] - The company reported a financial expense of -¥355,149.13, a significant improvement compared to ¥2,082,450.01 in the previous year[20] - Cash paid for purchasing goods and services was $530,370,790.91, up from $270,462,277.07, reflecting increased operational costs[23] Investments - Investment cash inflow amounted to $647,834,176.38, significantly higher than $246,052.70 in the same quarter last year[23] - Total cash outflow from investment activities reached $1,061,951,083.44, compared to $20,389,013.75 in the previous year, marking a substantial increase[23] - Net cash flow from investment activities was -$414,116,907.06, a decrease from -$20,142,961.05, reflecting a worsening position[23] - The company received $32,201,676.00 from investment absorption, a new source of cash inflow[23] Other Information - The weighted average return on equity decreased by 35.91% to 12.26% due to an increase in net assets following the IPO fundraising[7] - Cash and cash equivalents decreased to CNY 133,632,330.54 from CNY 589,724,584.21 year-over-year[17] - Accounts receivable increased to CNY 367,954,520.21 from CNY 312,906,059.96 year-over-year, indicating a growth of approximately 17.6%[17] - Inventory rose to CNY 141,806,179.43 from CNY 114,469,796.01, reflecting an increase of about 23.9%[17] - Non-current assets totaled CNY 294,785,189.91, up from CNY 165,212,233.07, showing a significant increase of approximately 78.5%[17] - The company has not disclosed any new product developments or market expansion strategies in this report[15]

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥715,751,824.69, representing a 75.90% increase compared to ¥406,910,263.45 in the same period last year[19]. - Net profit attributable to shareholders was ¥89,116,674.36, up 70.68% from ¥52,213,713.56 year-on-year[21]. - The net profit after deducting non-recurring gains and losses was ¥83,983,480.65, reflecting a 65.37% increase from ¥50,785,798.35 in the previous year[21]. - The company's cash flow from operating activities decreased by 117.14%, resulting in a net outflow of ¥7,825,847.13, primarily due to increased accounts receivable and higher cash payments for raw materials[21]. - Basic earnings per share increased to ¥0.67, a rise of 28.85% compared to ¥0.52 in the previous year[20]. - The total assets at the end of the reporting period were ¥1,260,796,483.41, an increase of 2.02% from ¥1,235,834,158.11 at the end of the previous year[19]. - The net assets attributable to shareholders increased by 8.00% to ¥1,097,391,089.23 from ¥1,016,104,738.87 at the end of the previous year[19]. - Operating costs increased by 77.87% to ¥553,865,012.69, primarily due to higher product sales volume[66]. - R&D expenses surged by 192.68% to ¥20,051,679.62, driven by investments in new applications for fine electronic wires and high-speed cables for cloud servers[66]. - The company reported a total comprehensive income of ¥89.12 million for H1 2021[131]. Market Position and Strategy - The company focuses on high-end markets and core business development, which contributed to the significant revenue growth[19]. - The company’s main business includes the R&D, manufacturing, and sales of fine electronic wires, widely used in various industries including consumer electronics and automotive electronics[26]. - The company primarily adopts a "make-to-order" production model, ensuring timely delivery and quality by analyzing historical order data and maintaining safety stock of finished and semi-finished products[39]. - The company has established contact points in cities like Shanghai, Tianjin, and Suzhou to maintain close communication with key customers, enhancing service quality and responsiveness to customer needs[41]. - The company has positioned itself in the high-end market, focusing on R&D and application of new materials and processes to meet the stringent requirements of international clients[50]. - The ongoing global pandemic has shifted some foreign orders to domestic suppliers, benefiting the company amid increased demand for consumer electronics and medical devices[47]. - The company is expected to benefit from the "14th Five-Year Plan" period, which emphasizes infrastructure development and presents new opportunities for growth in various sectors[47]. Product Development and Innovation - The company has completed the R&D of new wire applications for electric bicycles and high-frequency data cables, with initial supply already commenced[63]. - The company’s high-frequency data cables are expected to see a demand increase of 30% due to advancements in information technology and the growing need for high-speed data transmission[48]. - The company has achieved significant recognition, including being named the 57th among the top 100 electronic component enterprises in China and receiving the "Manufacturing Single Champion Product Certificate" from the Ministry of Industry and Information Technology[50]. - The company’s core products have passed various international certifications, including UL, CSA, and VDE, ensuring compliance with high-quality standards and enhancing its competitive edge[51]. - The company has a stable technical R&D team with over 10 years of industry experience, enabling it to respond effectively to customer needs and market trends[56]. Financial Management and Risks - The company faces risks related to macroeconomic fluctuations, market competition, and raw material price volatility, particularly concerning copper prices which constitute over 60% of its main business costs[73][74][75]. - The company has established dedicated departments for material procurement, production, quality inspection, and sales to manage product quality, ensuring stability and reliability[76]. - 98% of the company's accounts receivable are within one year, effectively improving turnover, although there remains a risk of collection due to the large total amount of accounts receivable[77]. - The company has reported a significant increase in accounts receivable to ¥374,300,478.25 from ¥312,906,059.96, which may indicate higher sales but also potential collection risks[120]. Shareholder and Corporate Governance - The annual shareholders' meeting held on May 25, 2021, had 31 participants representing 66.72% of the voting shares[80]. - The company plans to grant restricted stock to 102 individuals as part of its 2021 incentive plan, with the first grant date set for June 18, 2021[83]. - The company has committed to not transferring or entrusting the management of shares held prior to the public offering for 36 months from the date of listing[89]. - The company will not repurchase shares held by the controlling shareholder during the same lock-up period[89]. - The largest shareholder, Leqing Lixin Holdings Co., Ltd., holds 40,032,000 shares, representing 30% of the total shares[110]. - The number of shareholders reached 15,849 by the end of the reporting period[107]. Compliance and Reporting - The company guarantees the authenticity, accuracy, and completeness of the semi-annual report, with all board members present at the meeting[7]. - The company’s financial reports comply with the requirements of the enterprise accounting standards, reflecting a true and complete picture of its financial status[139]. - The company has not disclosed any major asset acquisitions or disposals during the reporting period[97]. - There were no significant lawsuits or arbitration matters reported during the period[95]. - There are no violations regarding guarantees during the reporting period[94].

Financial Performance - Total revenue for Q1 2021 reached RMB 331,026,894.02, representing a 101.60% increase compared to RMB 164,197,512.33 in the same period last year[8] - Net profit attributable to shareholders for Q1 2021 was RMB 36,516,576.27, up 105.05% from RMB 17,808,098.96 year-on-year[8] - Basic earnings per share increased by 50.00% to RMB 0.27 from RMB 0.18 in the same period last year[8] - Operating profit for Q1 2021 reached ¥47,912,561.50, up 103.5% from ¥23,532,560.91 in the same period last year[22] - Net profit for Q1 2021 was ¥36,516,576.27, representing a 105.5% increase from ¥17,808,098.96 in Q1 2020[22] - The total profit for Q1 2021 was ¥47,952,057.61, an increase of 104.4% from ¥23,430,561.35 in Q1 2020[22] - The company reported a significant increase in sales revenue from goods and services, totaling ¥183,175,516.80 in Q1 2021, compared to ¥125,156,558.31 in Q1 2020[24] Cash Flow and Investments - The company's cash flow from operating activities showed a significant decline, with a net outflow of RMB 78,554,256.65 compared to a net outflow of RMB 3,874,952.97 in the previous year, marking a decrease of 1,927.23%[8] - Net cash flow from operating activities decreased significantly by 1927.23% to -¥78,554,256.65, mainly due to a substantial rise in raw material purchases and increased accounts receivable[16] - Cash and cash equivalents decreased by 77.02% to ¥135,508,553.61 due to increased operational expenditures and investment in financial products[14] - Total cash outflow from investing activities was ¥378,733,670.67, significantly higher than ¥1,334,186.34 in Q1 2020[25] - Net cash flow from investing activities dropped by 25056.05% to -¥335,628,581.25, primarily due to investments in construction projects and financial products[16] - The company experienced a net cash outflow from financing activities of ¥40,150,719.44, compared to a net outflow of ¥12,964,218.63 in Q1 2020[25] Assets and Shareholder Information - The total assets at the end of the reporting period were RMB 1,215,506,285.12, down 1.64% from RMB 1,235,834,158.11 at the end of the previous year[8] - Total assets amounted to ¥1,215,506,285.12, a slight decrease from ¥1,235,834,158.11 at the beginning of the period[19] - The total number of shareholders reached 20,270 by the end of the reporting period[12] - The largest shareholder, Leqing Lixin Holdings Co., Ltd., held 40,032,000 shares, accounting for 30% of the total shares[12] Research and Development - R&D expenses surged by 302.50% to ¥9,139,081.20, reflecting increased investment in fine electronic wire research[15] - Research and development expenses increased to ¥9,139,081.20, up 302.5% from ¥2,270,576.42 in Q1 2020[22] Other Financial Metrics - The weighted average return on net assets decreased to 3.53%, down 24.09 percentage points from 4.65% in the previous year[8] - Non-recurring gains and losses amounted to RMB 5,016,629.78, primarily due to the disposal of idle assets and government subsidies[10] - Accounts receivable financing rose by 37.77% to ¥65,845,250.82, attributed to increased cash settlements with suppliers[14] - Inventory increased by 31.27% to ¥150,270,097.00, driven by a rise in orders leading to higher raw materials and finished goods[15] - Other receivables surged by 674.52% to ¥5,549,592.75, mainly due to deposits paid to suppliers that have not been recovered[15]

Financial Performance - The company's operating revenue for 2020 was CNY 100,083.16 million, representing a year-on-year increase of 7.77% compared to CNY 92,866.15 million in 2019 [22]. - The net profit attributable to shareholders for 2020 was CNY 11,907.61 million, up 9.94% from CNY 10,831.13 million in 2019 [22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 15.35% to CNY 11,351.18 million in 2020 from CNY 9,840.55 million in 2019 [22]. - The total assets increased by 119.30% to CNY 123,583.42 million at the end of 2020, compared to CNY 56,353.70 million at the end of 2019 [22]. - The net assets attributable to shareholders rose by 171.38% to CNY 101,610.47 million at the end of 2020, up from CNY 37,441.55 million at the end of 2019 [22]. - The basic earnings per share for 2020 was CNY 1.19, a 10.19% increase from CNY 1.08 in 2019 [23]. - The weighted average return on equity for 2020 was 27.44%, down from 33.13% in 2019, a decrease of 5.69 percentage points [23]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the year, representing a growth of 15% compared to the previous year [121]. - The net profit for 2020 was CNY 119,076,070.77, an increase of 10% compared to CNY 108,311,338.32 in 2019 [197]. Cash Flow and Financing - The net cash flow from operating activities decreased by 55.78% to CNY 5,096.76 million in 2020, down from CNY 11,526.31 million in 2019 [22]. - The net cash flow from financing activities increased significantly by 1,034.63% due to funds raised from the IPO [76]. - Cash and cash equivalents increased by 731.32% year-on-year, primarily due to the completion of IPO fundraising [93]. - Cash inflow from financing activities totaled CNY 587,689,617.07, significantly higher than CNY 83,200,000.00 in 2019 [200]. - The total cash inflow from operating activities was CNY 653,483,983.07, compared to CNY 585,645,251.20 in 2019, marking an increase of 11.6% [200]. Dividend and Share Capital - The company plans to distribute a cash dividend of 3.00 RMB per 10 shares, totaling 40,032,000 RMB for the year 2020, based on a total share capital of 133,440,000 shares [6]. - The company did not conduct capital reserve transfers to increase share capital or issue bonus shares in 2020 [6]. - The total number of ordinary shares increased to 133,440,000 shares following the issuance, impacting the net asset per share positively [137]. - The company’s capital reserve increased by RMB 489,253,148.34 as a result of the share issuance [136]. Operational Highlights - The company experienced significant growth in high-frequency data cable business, contributing to the increase in revenue and profit [24]. - The revenue from high-frequency data cables surged by 64.14%, amounting to 44.54 million RMB, significantly contributing to overall growth [69]. - The company has established a supplier classification system, with A-class suppliers being critical for key materials, evaluated monthly and annually, ensuring quality and stability [42]. - The production model primarily follows a "sales-driven production" approach, allowing for customized production based on customer orders, enhancing efficiency and delivery times [44]. - The company has established stable partnerships with well-known clients, including Hisense, Haier, and LG, enhancing brand recognition and market influence [61]. Research and Development - Research and development expenses rose by 52.69% to 19.09 million RMB, driven by increased investment in fine electronic wire research [75]. - The company has committed to investing 100 million RMB in research and development for new technologies over the next three years [121]. - The company has a total of 59 R&D personnel, representing 8.61% of the total workforce [88]. Market and Industry Outlook - The market for fine electronic wires is expanding due to increasing demand in downstream applications, driven by economic growth and technological advancements [50]. - The company anticipates that the industry concentration will gradually increase as orders shift towards leading enterprises with strong quality control, supply capacity, and innovation capabilities [50]. - The company plans to achieve a year-on-year revenue growth of over 20% in 2021, while expanding market share [103]. - The company intends to expand into emerging application fields such as healthcare, photovoltaics, and new energy technology [102]. Corporate Governance and Compliance - The company received a standard unqualified audit report from Tianjian Accounting Firm, ensuring the financial report's authenticity and completeness [5]. - The board of directors and senior management confirmed the accuracy and completeness of the annual report, assuming legal responsibility for any misrepresentation [8]. - The company emphasizes transparent information disclosure, ensuring all shareholders receive equal access to company information [166]. - The company has appointed several independent directors to strengthen its governance structure, including members with extensive experience in the electrical and electronic industry [157]. Social Responsibility - The company actively participates in social responsibility initiatives, including poverty alleviation efforts and donations to local cultural activities [131]. - The company provided approximately 150 million "nose bridge strips" to mask manufacturers during the pandemic, showcasing its commitment to social responsibility [69]. - The company donated CNY 100,000 to the local charity during the COVID-19 pandemic [131]. Risks and Challenges - The company faces risks related to macroeconomic fluctuations, which could impact demand in downstream industries [105]. - Raw material price fluctuations, particularly in copper, which constitutes over 60% of the main business costs, pose a risk to the company's profitability [107]. - The COVID-19 pandemic has affected production and sales, potentially leading to adverse impacts on the company's performance if not controlled effectively [108]. - The company has a significant amount of accounts receivable, with 98% of the aging structure being within one year, indicating a focus on managing collection risks [110].