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]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2020, representing a year-over-year increase of 25%[2]. - The company expects a revenue growth of 20% for the second half of 2020, projecting total revenue to reach RMB 2.4 billion for the full year[2]. - The company reported a significant increase in revenue, achieving a total of $X million for the quarter, representing a Y% year-over-year growth[21]. - The company achieved operating revenue of 293.2025 million yuan, a year-on-year decrease of 9.31%[100]. - Operating profit was 37.5733 million yuan, down 50.48% year-on-year, while total profit decreased by 50.53% to 37.5857 million yuan[100]. - Net profit attributable to shareholders decreased by 45.41% to CNY 34,740,146.30 from CNY 63,644,085.81 year-on-year[33]. - The company’s cash flow from operating activities showed a net outflow of CNY 59,685,074.04, compared to a net outflow of CNY 2,089,729.55 in the previous year[33]. - The company reported a total revenue of 1.5 billion, representing a year-over-year growth of 25%[182]. - The company provided a future outlook, projecting a revenue increase of 20% for the next quarter, targeting 1.8 billion[182]. User and Market Growth - User data indicates an increase in active users by 30% compared to the same period last year, reaching 5 million active users[2]. - User data indicates an increase in active users to 10 million, up from 8 million in the previous quarter, marking a 25% growth[182]. - The company is expanding its market presence in Europe, targeting a 15% market share by the end of 2021[2]. - The company is focusing on expanding its market presence in regions such as North America and Europe, aiming for a D% increase in market share by the end of the fiscal year[21]. - The company is expanding its market presence in Southeast Asia, aiming to increase market share by 15% within the next year[182]. Research and Development - Research and development expenses increased by 10% to RMB 150 million, focusing on advanced semiconductor technologies[2]. - Research and development efforts are underway for AIoT applications, with an investment of $E million allocated to enhance product capabilities[21]. - The company’s R&D expenses increased by 80.48% to 41.73 million yuan, driven by an increase in R&D personnel and related costs[121]. - The company has accumulated 79 authorized patents, including 36 invention patents and 25 utility model patents, as of June 2020[71]. - The company aims to continuously recruit technical talent and increase R&D investment to enhance its technological reserves[64]. - The company invested a total of ¥75,321,399.92 in R&D during the reporting period, which represents 25.69% of its operating revenue[72]. Product Development - New product launches include a next-generation Wi-Fi chip, which is expected to enhance connectivity and performance in IoT applications[2]. - New product launches included the introduction of the ESP-NOW technology, which allows devices to communicate without a router, enhancing connectivity options[22]. - The introduction of the new Wi-Fi 6 technology is expected to improve product performance, with anticipated efficiency gains of H% over previous standards[21]. - The company has launched several new products, including the ESP32-S2 chip and various development boards, enhancing its product lineup[101]. - The company is developing an AI processing chip with capabilities for image processing, voice recognition, and video encoding, with a total expected investment of ¥157,682,700.00[75]. Strategic Initiatives - The company has no plans for major acquisitions in the near term but is exploring strategic partnerships to enhance its product offerings[2]. - The company has initiated strategic partnerships with key industry players to accelerate product development and market entry, targeting a F% reduction in time-to-market for new products[21]. - A strategic acquisition of a smaller tech firm was completed, expected to contribute an additional 200 million in annual revenue[182]. - The company is exploring potential acquisitions to strengthen its technology portfolio and expand its customer base, with a budget of $G million earmarked for this purpose[21]. Financial Management and Commitments - The board has approved a profit distribution plan, with no dividends proposed for this period, focusing on reinvestment for growth[2]. - The company has committed to enhancing profitability and operational efficiency post-IPO, aiming to improve shareholder returns and market share[162]. - The company has established a profit distribution policy to ensure continuous and stable returns for shareholders[165]. - The company will publicly explain any failure to fulfill commitments and compensate investors for losses incurred due to such failures[168]. 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 from concentrated customer reliance, with the top five customers accounting for 34.19% of revenue in the first half of 2020[112]. - The company is focused on improving its risk resistance and sustainable operation capabilities through increased net assets and reduced debt ratios[162]. Corporate Governance - The company has committed to avoiding any competitive business activities that could harm shareholder interests, as outlined in their compliance agreements[183]. - The company has adhered to all regulatory requirements regarding related party transactions, ensuring transparency and fairness[183]. - The company has made commitments to avoid conflicts of interest and ensure fair management practices by its controlling shareholders and executives[165].

Financial Performance - Net profit attributable to shareholders decreased by 66.86% to ¥9,392,486.60, down from ¥28,343,748.00 in the same period last year[11]. - Operating revenue for the quarter was ¥123,645,610.61, representing a decline of 16.15% year-over-year[11]. - Basic earnings per share dropped by 75.15% to ¥0.1174, down from ¥0.4724 in the same quarter last year[11]. - The weighted average return on net assets decreased by 8.16 percentage points to 0.59%[11]. - Total operating revenue for Q1 2020 was $123.65 million, a decrease of 16.14% compared to $147.47 million in Q1 2019[48]. - Net profit for Q1 2020 was $11.29 million, a decline of 65.73% compared to $32.99 million in Q1 2019[48]. - Total revenue for Q1 2020 was ¥106,854,434.14, a decrease of 19.3% compared to ¥132,397,404.73 in Q1 2019[54]. - Net profit for Q1 2020 was ¥4,359,166.17, down 70.7% from ¥14,846,030.79 in Q1 2019[54]. Cash Flow - The net cash flow from operating activities was negative at ¥107,151,743.36, compared to a negative cash flow of ¥3,951,069.90 in the previous year[11]. - The company’s cash flow from operating activities increased by 141.58% to RMB 192,574,622.12 from RMB 79,715,652.30, attributed to timely payments for inventory[26]. - The company reported a significant increase in cash received from operating activities, totaling ¥153,678,903.26 in Q1 2020[58]. - Cash outflow from operating activities amounted to 193,610,697.48 RMB, significantly higher than 88,074,684.16 RMB in the same quarter last year[63]. - The cash flow from operating activities showed a decrease in cash inflow from sales, totaling 138,621,976.36 RMB compared to 105,565,584.30 RMB last year[63]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,727,151,944.38, a slight increase of 0.12% compared to the previous year[11]. - Total liabilities decreased significantly, with accounts payable to employees dropping by 64.70% to RMB 11,789,564.44 from RMB 33,402,407.61 due to the payment of last year's bonuses[23]. - Total liabilities as of March 31, 2020, were ¥170,613,391.34, up from ¥115,224,533.45 at the end of 2019, indicating a rise of about 48%[38]. - Total assets decreased to $1.62 billion in Q1 2020 from $1.64 billion in Q4 2019[42]. - Total liabilities reached approximately $115.22 million, with current liabilities totaling about $77.21 million and non-current liabilities at approximately $38.02 million[71]. Research and Development - The proportion of R&D investment to operating revenue increased significantly to 27.29%, up by 13.16 percentage points from 14.13%[11]. - Research and development expenses rose by 61.89% to RMB 33,742,922.33 from RMB 20,843,194.37, driven by increased personnel costs and the implementation of an equity incentive plan[23]. - Research and development expenses rose to $33.74 million in Q1 2020, up 61.73% from $20.84 million in Q1 2019[48]. - Research and development expenses increased to ¥24,294,386.43, up 59.5% from ¥15,266,306.84 in Q1 2019[54]. Shareholder Information - The total number of shareholders at the end of the reporting period was 6,526[17]. - The largest shareholder, 乐鑫（香港）投资有限公司, held 43.58% of the shares, totaling 34,860,000 shares[17]. Tax and Expenses - The tax expenses decreased by 59.30% to RMB 1,899,958.93 from RMB 4,667,861.03, reflecting a reduction in profits[26]. - The company experienced a 204.80% increase in financial expenses, amounting to RMB 2,215,955.73, primarily due to foreign exchange losses[26]. - Income tax expense for Q1 2020 was a credit of ¥243,933.08, compared to an expense of ¥2,687,262.77 in Q1 2019[54]. Inventory and Accounts Receivable - As of March 31, 2020, accounts receivable decreased by 39.89% to RMB 18,464,465.01 from RMB 30,716,717.82 due to the collection of matured receivables[23]. - Inventory increased by 111.49% to RMB 206,821,113.51 from RMB 97,791,443.97, attributed to proactive procurement and production activities in anticipation of post-pandemic recovery[23]. - The company's inventory increased significantly to ¥206,821,113.51 as of March 31, 2020, compared to ¥97,791,443.97 on December 31, 2019, representing a growth of approximately 111%[33]. - Accounts receivable decreased to $102.48 million in Q1 2020 from $108.92 million in Q4 2019[42]. Capital and Reserves - The company’s capital reserve increased to ¥1,217,010,763.13 as of March 31, 2020, from ¥1,214,428,693.13 at the end of 2019, a growth of about 0.2%[38]. - The capital reserve stood at $1,221,521,798.21[77]. - Unallocated profits were recorded at $73,984,360.62[77]. - The company reported a surplus reserve of $11,122,472.70[77]. Changes in Accounting Standards - The company adopted new revenue recognition standards effective January 1, 2020, impacting the reporting of contract liabilities[73]. - The company implemented new revenue recognition standards starting January 1, 2020, affecting the reporting of contract liabilities[79].

Dividend and Profit Distribution - The company plans to distribute a cash dividend of 8.75 RMB per 10 shares, totaling approximately 70 million RMB, which represents 44.16% of the net profit attributable to shareholders for 2019[5]. - The company has not proposed any capital reserve transfer to increase share capital or bonus shares for 2019[5]. - The company’s cash dividend distribution plan for 2019 has been approved by the board and is pending shareholder approval[188]. - The company has a cash dividend policy that mandates at least 15% of the distributable profit to be distributed in cash annually, barring significant investment plans[185]. Financial Performance - The company reported a significant increase in revenue for 2019, reaching a total of 1.5 billion RMB, representing a year-over-year growth of 25%[19]. - The company's operating revenue for 2019 was CNY 757.43 million, representing a year-on-year increase of 59.49%[30]. - The net profit attributable to shareholders for 2019 was CNY 158.51 million, a year-on-year increase of 68.83%[33]. - The net cash flow from operating activities for 2019 was CNY 102.32 million, up 40.42% from the previous year[30]. - The total assets at the end of 2019 were CNY 1.73 billion, an increase of 356.99% compared to the end of 2018[30]. - The company reported a total profit impact of 40,374,546.81 RMB for the current period, with a one-time adjustment of 5,574,645.56 RMB affecting the current profit and loss[41]. - The company reported a total revenue of 758,409,300.00 RMB, with a net profit of 185,038,125.82 RMB, reflecting a significant increase in sales volume during the credit period granted[78]. Market and Product Development - User data showed a 30% increase in active users, reaching 10 million by the end of 2019[19]. - New product launches included a Wi-Fi 6 chip, which is expected to enhance connectivity and performance in smart home devices[20]. - The company is expanding its market presence in Europe, targeting a 15% market share by the end of 2020[20]. - The company launched the ESP32-S2 chip in July 2019, featuring a single-core 32-bit processor and enhanced security measures, catering to high-security IoT applications[49]. - The company has launched four series of chips: ESP8089, ESP8266, ESP32, and ESP32-S, with the latest series incorporating Bluetooth and AI capabilities[48][49]. - The company introduced the ESP-Skainet voice interaction development framework in August 2019, supporting over 5 wake words and enabling local command recognition without retraining models[68]. - The ESP-BLE-MESH SDK was released in September 2019, fully supporting Bluetooth Mesh protocol, allowing thousands of devices to communicate without a centralized router, suitable for smart home and building automation applications[69]. Research and Development - Research and development efforts focused on AIoT technologies, with a budget increase of 40% to support innovation[20]. - The R&D expenditure accounted for 15.81% of operating revenue in 2019, slightly up from 15.77% in 2018[30]. - Total R&D expenses for the year amounted to ¥119,748,689.32, representing 15.81% of total revenue, with 246 R&D personnel making up 71.30% of the company's workforce[70]. - The company has developed 66 patents, including 29 invention patents, showcasing its strong core technology in the IoT Wi-Fi MCU communication chip sector[87]. - The company emphasizes continuous R&D investment to strengthen its technological capabilities and maintain industry leadership[64]. Market Trends and Projections - The global semiconductor market is projected to reach $433.03 billion in 2020, with a year-over-year growth of 5.9%[54]. - The compound annual growth rate (CAGR) for the smart home market is projected to be 25% from 2020 to 2025[159]. - The average annual growth rate for Wi-Fi MCU and BLE SoC shipments was approximately 40% from 2017 to 2019[162]. - The company expects Wi-Fi 6 technology to begin entering the IoT market gradually after 2021, enhancing the scalability of IoT applications[166]. Risks and Challenges - The company faced risks from high competition in the integrated circuit industry, particularly from major players like Qualcomm and MediaTek[108]. - The company is cautious about revenue growth for 2020 due to the impact of the COVID-19 pandemic on the global economy[178]. - The company emphasizes the importance of risk awareness among investors regarding the uncertainty of achieving its 2020 operational plans[182]. Shareholder Commitments and Regulations - The actual controller and major shareholders committed to a lock-up period of 36 months from the date of the company's stock listing, during which they will not transfer or manage their shares[192]. - Shareholders holding more than 5% of the company's shares are also subject to a 12-month lock-up period from the listing date, with similar restrictions on share transfers[192]. - The company has committed to ensuring that any share reductions after the lock-up period will not be below the initial public offering price[192]. - The commitments made by the company's core technical personnel include restrictions on share transfers for 6 months post-resignation and a limit on annual transfers to 25% of their holdings[198].

2019 年第三季度报告 公司代码：688018 公司简称：乐鑫科技 乐鑫信息科技(上海)股份有限公司 2019 年第三季度报告 1/32 2019 年第三季度报告 一、 重要提示 二、 公司基本情况 11[ 重要事项 四、 附录 目录 2/32 2019 年第三季度报告 单位：元 币种：人民币 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人 TEO SWEE ANN、主管会计工作负责人邵静博及会计机构负责人（会计主管人 员）王易文保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |------------------------------------------------|------------------------------|---------------------------- ...