Financial Performance - The company’s revenue for 2022 was CNY 1,271,127,201.38, a decrease of 8.31% compared to 2021[34]. - Net profit attributable to shareholders for 2022 was CNY 97,323,102.86, down 50.95% year-over-year[34]. - The basic earnings per share for 2022 was CNY 1.2129, reflecting a decline of 51.04% from the previous year[34]. - Operating profit was CNY 86,122,600, a decline of 58.67% year-on-year[118]. - The gross profit margin for 2022 was 39.98%, an increase of 0.38 percentage points compared to 2021[124]. - The company achieved operating revenue of CNY 1,271,127,201.38, a decrease of 8.31% compared to 2021[118]. - The company reported a total revenue of $8.339 billion for the year, representing a 7.9% increase from the previous year[191]. - The gross margin improved to 45%, up from 42% in the previous year, indicating better cost management[191]. Research and Development - The company is currently in a rapid development phase, focusing on increasing R&D investment and expanding operational scale[6]. - Research and development expenses accounted for 26.52% of operating revenue in 2022, an increase of 6.92 percentage points from 2021[34]. - R&D expenses amounted to 337.12 million yuan, an increase of 65.43 million yuan year-on-year, representing a growth rate of 24.08%[37]. - The company has accumulated 141 authorized patents and software copyrights by the end of 2022, including 72 invention patents and 21 U.S. patents[80]. - The company is investing $1 billion in R&D for new technologies over the next three years, aiming to innovate and expand its product offerings[194]. - The company has established 4 R&D centers in China and 4 overseas (Czech Republic, India, Singapore, and Brazil) to enhance global talent recruitment[177]. - The company has developed core technologies with independent intellectual property rights, including RISC-V based MCU architecture and high-power Wi-Fi RF technology, enhancing product performance significantly[93]. Product Development and Innovation - In 2022, the company achieved significant progress in core IP areas, including Wi-Fi 6, Wi-Fi 6E, low-power Bluetooth, RISC-V, and various cloud platform technologies[20]. - The company successfully launched the ESP32-C6 chip, which integrates self-developed RF transceiver, power management system, RISC-V CPU, and Wi-Fi 6 technology, and has obtained relevant certifications[20]. - The company launched the ESP32-P4 product line at CES 2023, featuring a dual-core RISC-V CPU and advanced security for high-performance HMI applications[23]. - The ESP32-S3 chip has integrated vector instructions for accelerating neural network computations, enabling local applications such as image recognition and voice wake-up with up to 200 offline command words[175]. - The company is actively developing new products, including ultra-low power ULP co-processors and Wi-Fi 6 chips, to meet the demands of IoT applications[92]. - The company has expanded its product offerings from Wi-Fi MCUs to Wireless SoCs, focusing on "processing + connectivity" technologies[166]. - The company is developing products that support the 6GHz Wi-Fi 6E protocol stack to meet evolving IoT application demands[169]. Market Position and Strategy - The company holds a leading market position in the IoT Wi-Fi MCU communication chip sector, achieving the highest global shipment market share in 2021[69]. - The company aims to support over 10,000 commercial clients and millions of developers in the IoT ecosystem[61]. - The company is entering the low-power Bluetooth and Thread/Zigbee markets, facing competition from established players like Nordic and Silicon Labs, which poses risks to market expansion[106]. - The concentration of sales to the top five customers has decreased from 42.18% in 2020 to 26.37% in 2022, indicating a diversification of the customer base[112]. - The company is focused on expanding its market presence and enhancing its product development capabilities[196]. - The company plans to maintain a long-term holding strategy for certain financial assets, indicating a focus on stability[144]. Governance and Compliance - The board of directors and management have confirmed the authenticity and completeness of the annual report[5]. - The company has a comprehensive governance structure in place, with all board members present at the meeting[5]. - The company emphasizes transparency and timely disclosure of significant information to protect the interests of minority investors[185]. - The board of directors held 7 meetings in 2022, adhering to legal and regulatory requirements to ensure effective governance[183]. - The company has implemented a system to manage insider information, limiting the number of individuals with access to sensitive data[186]. - The company reported a total of 10 proposals approved in the annual shareholder meeting, reflecting strong governance practices[188]. Risks and Challenges - The company has outlined various risks and countermeasures in its report, emphasizing the importance of understanding investment risks[7]. - The company faces risks from global macroeconomic downturns, which have led to a significant decline in revenue, necessitating careful control of expenses while continuing R&D investments[104]. - Future performance may be impacted by the slowdown in the IoT downstream application market and the company's ability to innovate and meet market demands[116]. - The company faced risks related to inventory turnover and potential impairment due to increased inventory levels[115]. Employee and Organizational Changes - The company’s employee count increased from 517 in 2021 to 578 in 2022, primarily in the R&D department[24]. - The company has 440 R&D personnel, accounting for 76.12% of total employees, an increase from 388 personnel in the previous year[90]. - Total compensation for R&D personnel reached ¥27,008.26 million, up from ¥20,025.37 million, with an average salary of ¥65.24 million compared to ¥55.01 million last year[90]. - The R&D department has seen leadership changes, with new appointments aimed at improving software and hardware development[196]. Future Outlook - The company provided a future outlook with a revenue guidance of $9 billion for the next fiscal year, indicating a projected growth of 8%[192]. - New product launches are expected to contribute an additional $500 million in revenue, enhancing market competitiveness[193]. - The company is considering strategic acquisitions to enhance its technology portfolio, with a budget of $300 million allocated for potential deals[194].

乐鑫科技 688018 !"#$%&'()*+,-./0 23456789:; | --- | --- | |------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ ...

Revenue and Profitability - Revenue for Q3 2022 was CNY 335,492,468.21, a decrease of 3.44% year-over-year, while year-to-date revenue reached CNY 949,311,349.42, down 2.94% compared to the same period last year[4] - Net profit attributable to shareholders for Q3 2022 was CNY 20,572,965.92, a decline of 55.90% year-over-year, with year-to-date net profit at CNY 83,848,190.13, down 43.41%[4] - Basic and diluted earnings per share for Q3 2022 were CNY 0.2557, a decrease of 56.09% year-over-year, with year-to-date figures at CNY 1.0435, down 43.61%[8] - The net profit attributable to shareholders of the listed company decreased by 55.90% in the current reporting period[29] - The net profit attributable to shareholders of the listed company for the year-to-date decreased by 43.41%[29] - The net profit excluding the impact of share-based payments decreased by 47.72% in the current reporting period[29] - The net profit excluding non-recurring gains and losses decreased by 65.10% in the current reporting period[32] - The company reported a net profit margin decline due to increased operating costs, impacting overall profitability[52] Expenses and Costs - R&D expenses totaled CNY 86,731,044.64 in Q3 2022, an increase of 27.62% year-over-year, representing 25.85% of revenue, up 6.29 percentage points[8] - The total operating costs for the first three quarters of 2022 were RMB 889,899,389.49, an increase from RMB 842,771,328.01 in 2021, indicating an increase of approximately 5.6%[52] - Management expenses rose to 44,022,027.41 RMB from 40,961,149.46 RMB, an increase of 7.4%[58] - The cash paid to employees increased to $242.02 million from $175.02 million year-over-year[66] - The cash paid for taxes rose to $46.15 million, up from $37.95 million in the previous period[66] Cash Flow and Financial Position - The company experienced a net cash outflow from operating activities of CNY 9,163,917.66, compared to a net inflow of CNY 44,054,900.00 in the same period last year[21] - The net cash flow from operating activities showed a net outflow due to increased personnel and salary growth[32] - Cash and cash equivalents decreased to RMB 261,678,313.20 as of September 30, 2022, from RMB 367,149,078.37 at the end of 2021, a decline of about 28.7%[45] - The ending cash and cash equivalents balance was $261.68 million, down from $996.59 million in the previous period[68] - The total cash outflow from operating activities was $1.13 billion, compared to $1.02 billion in the prior year[66] Assets and Liabilities - Total assets at the end of Q3 2022 were CNY 2,074,168,048.91, a decrease of 2.58% from the end of the previous year[8] - The total liabilities decreased to RMB 258,101,303.46 as of September 30, 2022, from RMB 306,038,230.22 at the end of 2021, a reduction of about 15.7%[51] - The company's equity attributable to shareholders was RMB 1,816,066,745.45 as of September 30, 2022, slightly down from RMB 1,823,017,912.65 at the end of 2021, a decrease of approximately 0.4%[51] Inventory and Future Plans - The company plans to increase inventory levels in anticipation of new product launches next year, despite a 33.61% increase in inventory compared to the previous period[21] - The company's inventory increased to RMB 435,785,754.21 as of September 30, 2022, compared to RMB 326,168,927.87 at the end of 2021, reflecting an increase of approximately 33.5%[45] Other Financial Metrics - Gross margin for Q3 2022 was 40.04%, a decrease of 0.45 percentage points from the same period last year, while chip gross margin was 48.18%, down 1.51 percentage points[9] - Non-recurring gains included an increase in investment income from bank financial products by CNY 2,619,700.00 year-over-year[12] - The company received government subsidies amounting to 666,153.37 in the current reporting period[26] - The fair value changes of trading financial assets and liabilities resulted in a gain of 6,479,661.14 in the current reporting period[26] Shareholder Information - The total number of common shareholders at the end of the reporting period was 9,095[33]

Financial Performance - The company reported a total revenue of RMB 1.5 billion for the first half of 2022, representing a year-on-year increase of 25%[2]. - The company reported a significant increase in revenue, achieving a total of $XX million for the first half of 2022, representing a YY% growth compared to the same period last year[20]. - Revenue for the first half of the year was CNY 613,818,881.21, a decrease of 2.66% compared to the same period last year[27]. - Operating revenue of 613.82 million yuan, a year-on-year decrease of 2.66%[124]. - Operating profit was 58.13 million yuan, down 44.94% year-on-year, while total profit decreased by 44.96% to 58.10 million yuan[124]. - Net profit attributable to shareholders decreased by CNY 63,275,224.21, a decline of 37.67% year-on-year[27]. - The net profit attributable to shareholders was 63.28 million yuan, a decline of 37.67% year-on-year, with a net profit of 49.59 million yuan after deducting non-recurring gains and losses, down 44.91%[124]. User Growth - User data indicates an increase in active users by 30% compared to the same period last year, reaching 10 million active users[2]. - User data showed an increase in active users, reaching ZZ million, which is a growth of AA% year-over-year[20]. - User data showed a total of 1.5 million active users, representing a 15% increase compared to the previous quarter[192]. Market Expansion - The company expects a revenue growth forecast of 20% for the second half of 2022, driven by new product launches and market expansion[2]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2023[2]. - The company is expanding its market presence in Southeast Asia, targeting a 30% market share by the end of the fiscal year[195]. - The company is focusing on market expansion, particularly in the IoT sector, aiming to capture a larger share of the growing market[20]. Research and Development - Research and development expenses increased by 15% to RMB 300 million, focusing on new technologies in IoT and semiconductor sectors[2]. - R&D expenses increased by CNY 33,365,500, representing a growth of 28.02% compared to the previous year[31]. - Research and development expenses increased by 28.02% to 152.45 million yuan, accounting for 24.84% of revenue, with R&D personnel growing by 22.64% to 428[125]. - The company is focusing on edge computing and AI capabilities in its SoC designs to meet increasing performance and power efficiency demands[56]. - The company has achieved significant R&D milestones, including the launch of the ESP32-C2, a low-area IoT chip with Wi-Fi 4 and Bluetooth 5 capabilities, and the ESP32-C5, the world's first dual-band Wi-Fi 6 and Bluetooth 5 SoC[81]. Product Development - The company has launched two new products in the IoT space, contributing to a 5% increase in overall sales[2]. - New product launches included the introduction of Wi-Fi 6E technology, expanding the frequency range to 5.925 – 7.125GHz, enhancing connectivity options[18]. - The company launched new products featuring self-developed RISC-V processors in the Wi-Fi 6 series during the reporting period[31]. - The ESP32-S3 chip enhances AI applications with vector instructions for high-performance image recognition and voice wake-up capabilities, while the ESP32-C6 chip offers Wi-Fi 6 technology, marking significant advancements in the company's product line[67][69]. Strategic Acquisitions - A strategic acquisition of a local tech firm is in progress, expected to enhance the company's product offerings and market reach[2]. - The company is exploring strategic acquisitions to enhance its technology portfolio and market presence[20]. - The company plans to pursue strategic acquisitions to enhance its product offerings and market reach[197]. Shareholder Value - The board has approved a share buyback program worth RMB 200 million to enhance shareholder value[2]. - Shareholder returns are expected to improve, with a proposed dividend increase of 5%[191]. - The company aims to stabilize its stock price through potential buyback programs if share prices fall below a certain threshold[192]. Risk Management - The company has identified potential risks related to supply chain disruptions and is implementing measures to mitigate these risks[2]. - The company faced risks related to inventory depreciation and turnover rate due to the expansion of business scale and potential misjudgment of market demand[137]. - The company is exposed to macroeconomic risks, including potential impacts from international trade tensions and currency exchange losses due to foreign procurement and sales[141]. Environmental Sustainability - The company adopts a Fabless model, avoiding direct involvement in manufacturing, which helps in maintaining environmental sustainability[174]. - The company uses 100% recyclable green packaging and reusable pallets to enhance resource utilization efficiency[174]. - The company has established a warehouse in Shenzhen to improve transportation efficiency for goods, contributing to a greener supply chain[174]. Governance and Compliance - The company’s strategy includes maintaining a strong governance structure to support its growth and market expansion efforts[187]. - The commitments made by the actual controller and shareholders are designed to prevent market volatility and ensure long-term investment stability[180]. - The company will disclose the status of commitments related to share repurchases and compensations in its regular reports[199].

Financial Performance - The company reported a revenue of ¥288,948,064.55 for Q1 2022, representing a year-over-year increase of 6.81%[4] - Net profit attributable to shareholders decreased by 18.08% to ¥27,852,092.14, while the net profit excluding non-recurring gains and losses fell by 24.96% to ¥21,850,736.59[4] - Total operating revenue for Q1 2022 was RMB 288,948,064.55, an increase of 6.4% compared to RMB 270,513,645.17 in Q1 2021[39] - Net profit for Q1 2022 was RMB 27,852,092.14, down 18.5% from RMB 33,999,374.93 in Q1 2021[41] - Basic and diluted earnings per share for Q1 2022 were both RMB 0.3475, compared to RMB 0.4248 in Q1 2021, indicating a decrease of 18.2%[41] - The company reported a total comprehensive income of RMB 26,206,872.25 for Q1 2022, down from RMB 36,778,288.01 in Q1 2021[41] Research and Development - The company invested ¥74,848,289.59 in R&D, an increase of 27.10%, with R&D expenses accounting for 25.90% of revenue, up by 4.13 percentage points[6] - R&D expenses in Q1 2022 reached RMB 74,848,289.59, a significant increase of 27% from RMB 58,890,426.46 in Q1 2021[39] Inventory and Assets - The ending inventory balance was ¥39,617,850, a 21.46% increase compared to the same period last year, due to a strategy of maintaining stock during the off-season[11] - The total assets at the end of the reporting period were ¥2,094,943,751.61, a decrease of 1.60% from the end of the previous year[6] - As of March 31, 2022, the company's total assets amounted to approximately ¥2,094.94 billion, a decrease from ¥2,129.06 billion as of December 31, 2021[29] - The company's inventory rose to ¥396.18 billion, up from ¥326.17 billion year-over-year[29] - The company's accounts receivable decreased to ¥235.63 billion from ¥306.82 billion year-over-year[29] - The company's non-current assets totaled approximately ¥149.29 billion, an increase from ¥141.66 billion year-over-year[33] - The total assets of the company were RMB 2,094,943,751.61, a decrease from RMB 2,129,056,142.87[39] Cash Flow and Liabilities - The company experienced a net cash outflow from operating activities of ¥36,870,505.88, attributed to increased inventory and a decrease in accounts payable by 46.65%[4][18] - Operating cash inflow for Q1 2022 was CNY 429,401,738.38, an increase of 37.4% from CNY 312,564,150.44 in Q1 2021[44] - Cash outflow from operating activities totaled CNY 466,272,244.26, up 42.9% from CNY 326,062,648.67 in the previous year[44] - Net cash flow from operating activities was negative CNY 36,870,505.88, worsening from negative CNY 13,498,498.23 in Q1 2021[44] - Total liabilities amounted to RMB 220,577,623.35, a decrease from RMB 306,038,230.22 in the previous period[39] - The company reported a significant decrease in accounts payable from ¥138.57 billion to ¥73.93 billion year-over-year[33] Future Outlook - The company plans to accelerate the release of new products, with three new products from 2021 entering mass production and market promotion this year[9] - The company expects demand in consumer sectors to recover quickly post-pandemic, while also expanding into non-consumer sectors such as industrial control and healthcare[14]

Financial Performance - The company's revenue for Q3 2021 was ¥347,432,237.69, representing a year-over-year increase of 33.67%[5] - The net profit attributable to shareholders for Q3 2021 was ¥46,647,343.31, with a slight increase of 1.22% compared to the same period last year[5] - The total revenue for the year-to-date period reached ¥978,035,080.62, marking a significant increase of 76.82% year-over-year[5] - The net profit attributable to shareholders for the year-to-date period was ¥148,168,183.23, reflecting an increase of 83.32% compared to the previous year[5] - Total operating revenue for the first three quarters of 2021 reached ¥978,035,080.62, a significant increase of 76.9% compared to ¥553,124,123.90 in the same period of 2020[34] - Net profit for the first three quarters of 2021 was ¥148,168,183.23, representing a 83.2% increase from ¥80,823,053.15 in the same period of 2020[36] - The company reported a total comprehensive income of ¥146,197,767.00 for the first three quarters of 2021, compared to ¥72,111,086.60 in the same period of 2020[41] Earnings and Expenses - Research and development expenses for Q3 2021 totaled ¥67,959,102.35, which is 19.56% of the revenue, an increase of 2.81 percentage points from the previous year[9] - Research and development expenses for the first three quarters of 2021 amounted to ¥187,048,191.72, up from ¥118,855,945.24 in the same period of 2020[34] - Total operating costs for the first three quarters of 2021 were ¥842,771,328.01, up 69.5% from ¥496,738,501.87 in the previous year[34] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date period was ¥44,054,907.66, a substantial increase of 255.86% year-over-year[9] - Cash flow from operating activities for the first three quarters of 2021 was ¥1,065,951,758.30, an increase from ¥607,839,658.97 in the previous year[42] - Net cash flow from operating activities was $44,054,907.66, an increase from $12,379,725.54 in the previous period, reflecting a significant improvement in operational efficiency[45] - The ending balance of cash and cash equivalents was $996,590,117.92, a significant increase from $512,845,555.75 at the end of the previous period[47] Assets and Liabilities - The total assets as of the end of the reporting period were ¥2,020,335,834.37, representing a 10.42% increase from the previous year[9] - Total current assets as of September 30, 2021, reached CNY 1,914,369,294.13, an increase from CNY 1,772,487,704.64 as of December 31, 2020, representing a growth of approximately 8%[26] - Total assets amounted to CNY 2,020,335,834.37, compared to CNY 1,829,631,150.05 at the end of 2020, reflecting an increase of about 10.4%[29] - Total liabilities increased to ¥252,765,571.26 in 2021 from ¥188,500,793.77 in 2020, reflecting a growth of 34.0%[34] - The total liabilities included accounts payable of CNY 106,356,630.52, which increased from CNY 83,093,191.75, showing a rise of about 28%[29] Equity and Returns - The weighted average return on equity for the year-to-date period was 8.75%, an increase of 3.69 percentage points compared to the previous year[9] - The company reported a decrease in the weighted average return on equity for Q3 2021 to 2.68%, down by 0.19 percentage points from the previous year[9] - Total equity attributable to shareholders reached ¥1,767,570,263.11, up from ¥1,641,130,356.28 in the previous year, indicating a growth of 7.7%[34] Operational Insights - The company has not reported any significant new product launches or technological advancements during this period[24] - There were no mergers or acquisitions disclosed in the latest earnings call[24] - The company did not provide specific future guidance or market expansion strategies in the report[24] Other Financial Metrics - The basic earnings per share for Q3 2021 was ¥0.5823, showing a year-over-year increase of 1.09%[9] - Basic earnings per share for the first three quarters of 2021 were ¥1.8504, compared to ¥1.0103 in the same period of 2020[41] - Deferred income tax liabilities increased to ¥54,953,069.53 from ¥50,822,540.25, showing a rise of 6.0%[34]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2021, representing a year-over-year increase of 30%[2]. - The company reported a significant increase in revenue, achieving a year-over-year growth of 25% in Q2 2021, totaling $150 million[18]. - The company's operating revenue for the first half of 2021 reached ¥630,602,842.93, a year-on-year increase of 115.07% compared to ¥293,202,512.75 in the same period last year[30]. - Net profit attributable to shareholders was ¥101,520,839.92, representing a 192.23% increase from ¥34,740,146.30 in the previous year[30]. - The basic earnings per share (EPS) rose to ¥1.2681, a 191.99% increase from ¥0.4343 in the same period last year[30]. - Operating profit reached 105.58 million yuan, up 181.01% year-on-year, while net profit attributable to shareholders increased by 192.23% to 101.52 million yuan[111]. - The company achieved a revenue of 630.60 million yuan, representing a year-on-year increase of 115.07%[111]. User Growth and Market Expansion - User data indicates a growth in active users, reaching 5 million by the end of June 2021, up from 3.5 million in the same period last year, marking a 42.9% increase[2]. - The company is expanding its market presence in Europe, targeting a 20% market share by the end of 2022[2]. - The company is expanding its market presence in Europe, targeting a 15% market share by the end of 2022[23]. - User data showed a 30% increase in active devices connected to the IoT platform, reaching 10 million devices by the end of Q2 2021[20]. Research and Development - Research and development expenses increased by 18% to RMB 200 million, reflecting the company's commitment to innovation[2]. - Research and development expenses increased by 58.11% to ¥11,908,000.00, reflecting the company's commitment to maintaining core technology development[34]. - R&D expenses for the first half of 2021 totaled approximately ¥119.09 million, a 58.11% increase compared to the previous year, with R&D expenses accounting for 18.88% of operating revenue[87]. - The total number of patents filed increased by 40% year-over-year, indicating a strong commitment to innovation and technology advancement[21]. - The company has accumulated 109 authorized patents and software copyrights as of June 2021, including 59 invention patents and 6 US patents[81]. - The company emphasizes a dual-driven approach in R&D, focusing on both hardware and software solutions in the AIoT field[112]. Product Development and Innovation - New product launches are anticipated, including the introduction of a next-generation chip expected to enhance performance by 15%[2]. - New product launches included the ESPRainmaker platform, which aims to accelerate AIoT solution development for customers[20]. - The introduction of the ESP-IDF framework is expected to streamline IoT application development, enhancing developer engagement by 25%[20]. - The ESP32-S3 chip features vector instructions for accelerating neural network computations, enabling high-performance applications such as image recognition and voice wake-up[56]. - The ESP32-C6 chip in the ESP32-C series offers users the experience of Wi-Fi 6 technology[56]. - The company has developed a comprehensive suite of open-source software solutions, including ESP-IDF and ESP-ADF, to help customers quickly achieve product intelligence and shorten development cycles[57]. Financial Position and Cash Flow - The company has maintained a strong cash position, with cash reserves of RMB 500 million as of June 30, 2021[2]. - The company's cash flow from operating activities showed a net outflow of ¥12,548,266.36, an improvement from a net outflow of ¥59,685,074.04 in the previous year[30]. - The company reported a net cash outflow from operating activities of 12.55 million RMB, despite a significant increase in cash inflows from sales[146]. - The company's trading financial assets balance at the end of the reporting period was ¥756,239,367.12, consisting of structured deposits[154]. Strategic Focus and Future Outlook - The company expects revenue growth to continue, projecting a 25% increase for the second half of 2021 compared to the first half[2]. - The company has no plans for significant mergers or acquisitions in the near term, focusing instead on organic growth strategies[2]. - The company plans to pursue strategic acquisitions to bolster its technology portfolio, with a budget of $50 million earmarked for potential targets[21]. - The company is positioned as a leading supplier in the wireless connectivity market, with strong import substitution capabilities[50]. Risk Management - The management highlighted potential risks, including supply chain disruptions that could impact production capacity[5]. - The proportion of overseas sales accounted for 23.36% of total sales, with potential risks from international trade tensions affecting downstream demand[139]. Environmental and Social Responsibility - The company focuses on developing low-energy green technologies to reduce energy consumption and material waste[168]. - The company has initiated an endangered species protection plan, donating part of its income to support biodiversity conservation[168]. Shareholder Commitments and Governance - The company committed to maintaining a profit distribution policy that ensures continuity and stability in investment returns[195]. - The controlling shareholder and actual controller promised not to interfere with the company's management activities and to compensate for any losses caused to other shareholders[195]. - The company will publicly explain any failure to fulfill commitments regarding profit distribution and apologize to shareholders[195].

Financial Performance - Total revenue for Q1 2021 reached ¥270,513,645.17, an increase of 118.78% compared to ¥123,645,610.61 in the same period last year[11] - Net profit attributable to shareholders was ¥33,999,374.93, representing a year-on-year increase of 261.98% from ¥9,392,486.60[11] - Basic and diluted earnings per share increased by 261.84% to ¥0.4248, driven by the significant rise in net profit[20] - The total comprehensive income for Q1 2021 was RMB 36,778,288.01, compared to RMB 14,133,590.72 in Q1 2020, reflecting a growth of 160.5%[68] - The company reported a significant decrease in other receivables by 51.32% to ¥6,759,707.66 from ¥13,884,858.86, due to the receipt of a corporate income tax refund from 2019[32] Cost and Expenses - Operating costs for Q1 2021 were ¥162,293,828.44, up 137.97% from ¥68,199,235.95 in Q1 2020, reflecting the increase in revenue[35] - Sales expenses increased by 84.79% to ¥9,789,393.08 due to a rise in the number of sales personnel and salary increases, alongside higher royalties and freight costs from increased revenue[38] - R&D expenses rose by 74.53% to ¥58,890,426.46, driven by an increase in R&D personnel and related costs, including software and other R&D expenditures[38] Cash Flow - Cash flow from operating activities showed a net outflow of ¥13,498,498.23, an improvement compared to a net outflow of ¥107,151,743.36 in the same period last year[11] - The company reported cash inflows from operating activities of RMB 312,564,150.44, a significant increase from RMB 153,678,903.26 in Q1 2020, representing a growth of approximately 103.5%[76] - The company’s cash flow from operating activities was negatively impacted by increased payments to employees, which rose to RMB 89,711,835.50 in Q1 2021 from RMB 53,664,197.72 in Q1 2020, an increase of approximately 67.1%[79] Assets and Liabilities - The company's other current assets increased by 54.77% to ¥19,369,716.08 from ¥12,515,259.44, attributed to increased prepaid corporate income tax and export tax refunds[32] - Total assets decreased slightly to CNY 1,824,142,336.62 from CNY 1,829,631,150.05, a decline of approximately 0.4%[51] - Current liabilities decreased to CNY 121,734,281.43 from CNY 137,678,253.52, a reduction of about 11.6%[51] - Total liabilities decreased to CNY 180,824,982.15 from CNY 188,500,793.77, a decline of about 4.0%[52] Shareholder Information - The total number of shareholders at the end of the reporting period was 7,238, with the largest shareholder, Lexin (Hong Kong) Investment Limited, holding 34,860,000 shares, accounting for 43.56% of total shares[24] - The total number of shares held by the top ten unrestricted shareholders was 50,000,000, with significant contributions from various investment firms[27] Research and Development - Research and development expenses increased by 74.53% year-on-year to ¥5,855,000, reflecting a strategy focused on core technology self-research[15] - The average number of R&D personnel increased by 33% year-on-year, contributing to higher R&D costs[15] - The company plans to continue investing in R&D and maintain its focus on core technology development to drive future growth[15] Taxation - The company’s tax payable increased dramatically by 1,867.83% to ¥9,641,062.24 from ¥489,932.64, reflecting an increase in the balance of value-added tax payable[35] - The company reported a 198.57% increase in taxes paid, totaling ¥5,945,478.00, primarily due to an increase in prepaid corporate income tax compared to the previous year[41] Other Financial Metrics - The gross profit margin for Q1 2021 was 40.0%, slightly down from 41.3% in 2020, while the chip gross margin increased to 46.8% from 45.7%[15] - The weighted average return on equity rose to 2.07%, an increase of 1.48 percentage points from 0.59% in the previous year[11] - Other income increased by 539.82% to ¥211,159.24, resulting from an increase in government subsidies related to daily operations[38]

Dividend Distribution - The company plans to distribute a cash dividend of 5 RMB per 10 shares, totaling approximately 40,015,250 RMB, which represents 38.46% of the net profit attributable to shareholders for 2020[6]. - The total share capital for the dividend calculation is based on 80,030,500 shares, subject to adjustment on the actual dividend record date[6]. - The company does not plan to increase capital reserves or issue bonus shares for the 2020 profit distribution[6]. - The company will prioritize cash dividends, distributing at least 15% of the distributable profit in cash annually, provided certain conditions are met[162]. - The company’s cumulative distributable profit as of December 31, 2020, was CNY 42,735,588.87, with a capital reserve of CNY 1,242,207,000.74[166]. Financial Performance - The company reported a significant increase in revenue, reaching RMB 2.379 billion for the fiscal year 2020, marking a year-over-year growth of 15%[13]. - The company's operating revenue for 2020 was CNY 831.29 million, representing a year-on-year increase of 9.75% due to product sales growth and pricing strategies implemented in response to the pandemic[23]. - The net profit attributable to shareholders decreased by 34.35% to CNY 104.05 million, while the net profit after deducting non-recurring gains and losses fell by 37.48% to CNY 73.85 million[26]. - The gross margin improved to 45%, up from 40% in the previous year, due to cost optimization measures[13]. - The overall gross margin for the year was 41.29%, a decrease of 5.74 percentage points compared to the previous year, due to significant price reductions implemented in response to the pandemic[111]. Research and Development - Investment in R&D for new technologies, including AIoT solutions, has increased by 30%, reflecting the company's commitment to innovation[14]. - Research and development expenses increased by 61.00% compared to the previous year, accounting for 23.19% of operating revenue[25]. - The total R&D expenditure for 2020 was approximately ¥192.79 million, a 61% increase from ¥119.75 million in the previous year, with R&D expenses accounting for 23.19% of operating revenue, up from 15.81%[66][67]. - The company has accumulated multiple proprietary technologies in chip design, AI, RF, device control, and data transmission, positioning its products at the forefront of the industry[54]. - The company focuses on continuous recruitment of technical talent and increasing R&D investment to enhance its core competitiveness in hardware and software design[53]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share by 2025[15]. - The company projects a revenue growth of 20% for the next fiscal year, driven by new product launches and market expansion strategies[15]. - The company aims to achieve carbon neutrality in its operations by 2025, aligning with global sustainability trends[15]. - The company is currently developing several projects, including a Wi-Fi wireless interconnection chip with an estimated total investment of ¥167.95 million, and an AI processing chip with an estimated investment of ¥157.68 million[70]. - The company is open to investment and acquisition opportunities, focusing on enhancing technical capabilities and product lines[158]. Product Development and Innovation - A new product line of Wi-Fi 6E devices is set to launch in Q2 2021, expected to contribute an additional RMB 500 million in revenue[14]. - The company has developed a product matrix with four major IoT chip series: ESP8266, ESP32, ESP32-C, and ESP32-S, with the ESP32 series incorporating Bluetooth and AI capabilities[35]. - The ESP32-C3 chip was launched with high security and low power consumption, featuring a RISC-V 32-bit single-core processor and supporting 2.4 GHz Wi-Fi and Bluetooth LE 5, achieving commercial customer Design-In in January 2021, marking the fastest time from release to commercialization[56]. - The company released the ESP-IDF operating system platform, with 19 version updates in 2020, supporting multiple chip series and reducing development costs for users[58]. - New products support advanced security features and AI capabilities, enhancing their competitive edge in the market[82]. Financial Position and Assets - The total assets at the end of 2020 were CNY 1.83 billion, reflecting a year-on-year growth of 6.06%[23]. - The company's net assets attributable to shareholders increased by 1.94% to CNY 1.64 billion[23]. - Cash and cash equivalents at the end of the period were 50,324.00 million RMB, representing 27.50% of total assets, a significant increase from 13,599.27 million RMB (7.88%) in the previous period[77]. - Trading financial assets decreased to 85,453.05 million RMB (46.71% of total assets), down from 127,019.62 million RMB (73.63%) in the previous period, reflecting a decline of 32.72%[77]. - Accounts receivable rose to 18,213.87 million RMB, accounting for 9.95% of total assets, an increase of 64.52% from 11,070.96 million RMB (6.42%) previously[77]. Compliance and Governance - The company has committed to ensuring the interests of minority shareholders by optimizing the investment return mechanism based on actual operating conditions[181]. - The company will publicly explain any failure to fulfill commitments regarding profit distribution and will compensate investors for losses if such failures occur[183]. - The company has pledged that its IPO prospectus and other disclosures will not contain false statements or omissions, and it will bear legal responsibility for their accuracy[183]. - The company will take measures to ensure that the interests of shareholders are protected in the event of any breaches of commitment by the controlling shareholder[181]. - The company has established a clear framework for share transfer and reduction to protect shareholder interests[176].

Financial Performance - Operating income for the first three quarters was ¥553,124,123.90, reflecting a year-on-year growth of 5.03%[10] - Net profit attributable to shareholders was ¥80,823,053.15, a decrease of 15.43% compared to the same period last year[10] - In Q3, the company achieved a net profit of ¥46,082,900, representing a significant increase of 44.37% year-on-year[17] - The company reported a net profit of 5,596,318.32 for the current period, compared to 25,456,792.67 in the previous period[21] - Total operating revenue for Q3 2020 reached ¥259,921,611.15, a 27.8% increase from ¥203,357,743.29 in Q3 2019[60] - Total operating revenue for the first three quarters of 2020 was ¥553,124,123.90, a 5.0% increase from ¥526,647,274.95 in the same period of 2019[60] - The company reported a total profit of ¥50,563,715.55 for Q3 2020, compared to ¥36,904,350.88 in Q3 2019, marking a 37.0% increase[62] - Net profit for Q3 2020 was ¥46,082,906.85, representing a 44.5% increase compared to ¥31,920,731.04 in Q3 2019[62] Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,770,608,650.92, an increase of 2.64% compared to the end of the previous year[10] - Total assets increased to ¥1,770,608,650.92 from ¥1,725,047,425.77, representing a growth of approximately 2.5%[49] - Total current assets as of September 30, 2020, amounted to ¥1,729,592,953.68, compared to ¥1,680,762,493.79 at the end of 2019[45] - Current liabilities rose to ¥97,274,913.03, up from ¥77,206,830.90, indicating an increase of about 26%[49] - Total liabilities reached ¥145,425,044.95, compared to ¥115,224,533.45, showing an increase of around 26%[51] - Total equity attributable to shareholders rose to ¥1,625,183,605.97 from ¥1,609,822,892.32, reflecting an increase of about 0.95%[51] Cash Flow - Cash flow from operating activities for the first three quarters was ¥12,379,725.54, a decrease of 55.86% compared to the previous year[10] - Cash flow from investment recovery reached ¥3,475,469,006.74, marking a 100% increase compared to the previous year, driven by substantial growth in principal and returns from structured deposits[36] - The company achieved a cash inflow from investment activities of RMB 3.48 billion in the first three quarters of 2020[74] - The net cash flow from operating activities was -160,667,905.89 RMB, compared to 40,510,018.06 RMB in the same period last year[80] - The company reported a net increase in cash and cash equivalents of 199,271,464.96 RMB during the period[80] Research and Development - Research and development expenses increased by ¥40,848,800, marking a growth of 52.37% year-on-year[15] - The average number of R&D personnel grew by 48%, contributing to the company's core competitiveness[18] - R&D expenses increased by 52.37% to ¥118,855,945.24 due to a 48% rise in average R&D personnel and increased compensation[33] - R&D expenses for Q3 2020 amounted to ¥43,534,545.32, a 19.1% increase from ¥36,274,081.20 in Q3 2019[60] Shareholder Information - The total number of shareholders at the end of the reporting period was 7,980, with the largest shareholder holding 43.58%[24] - The company distributed dividends totaling ¥70,000,000.00 during the period[36] Other Financial Metrics - The gross profit margin decreased from 47.07% to 41.51%, resulting in a gross profit reduction of ¥18,290,800, a decline of 7.38%[15] - Financial expenses decreased by 106.65% to -¥365,587.84, attributed to increased interest income from bank deposits and reduced exchange losses compared to the previous year[33] - Investment income surged by 1,014.62% to ¥22,562,807.56, driven by increased maturity returns from structured deposits[33] - Other comprehensive income decreased by 54.25% to 7,347,156.39 due to fluctuations in foreign currency translation[30] - Basic earnings per share for Q3 2020 were ¥0.5760, compared to ¥0.4353 in Q3 2019, reflecting a 32.4% increase[64]