Financial Performance - The company reported a total revenue of RMB 500 million for the first half of 2022, representing a year-on-year increase of 15%[12]. - The company's operating revenue for the first half of 2022 was CNY 171,163,602.09, representing a 39.72% increase compared to CNY 122,508,713.72 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was a loss of CNY 32,135,195.84, a decline of 186.21% from a profit of CNY 37,274,965.39 in the previous year[21]. - The net cash flow from operating activities decreased by 83.08% to CNY 5,253,946.35, primarily due to increased inventory and changes in payment methods for raw materials[22]. - The total comprehensive income for the first half of 2022 was a loss of CNY 30,010,993.63, compared to a gain of CNY 39,903,648.52 in the previous year[183]. - The company reported a significant increase in management expenses, which rose to CNY 17,548,507.12 from CNY 14,040,581.86[182]. - The overall gross profit margin has declined due to increased competition and rising costs, impacting net profit significantly[78]. Research and Development - Research and development expenses increased by 12% to RMB 50 million, focusing on advanced materials for flexible printed circuits[12]. - The company's R&D expenditure accounted for 23.31% of operating revenue, an increase of 4.81 percentage points compared to 18.50% in the previous year[20]. - The company achieved a total R&D investment of ¥39,892,972.40, representing a 76% increase compared to ¥22,666,571.39 in the same period last year[58]. - The company applied for a total of 18 new patents during the reporting period, including 9 domestic invention patents and 9 utility model patents[56]. - The company continues to invest in R&D for products such as electromagnetic shielding films and ultra-thin copper foils, leading to increased personnel and equipment costs[21]. Market Expansion and Strategy - The company plans to launch two new products in Q3 2022, targeting a market share increase of 5% in the flexible circuit board sector[12]. - The company is expanding its market presence in Southeast Asia, aiming for a 10% market penetration by the end of 2022[12]. - Future outlook includes an expected revenue growth of 25% for the full year 2022, driven by increased demand in the electronics market[12]. - The company is considering strategic acquisitions to enhance its product portfolio, with potential targets identified in the tech sector[130]. - Market expansion plans include entering three new international markets, which are projected to increase overall market share by 10%[129]. Product Development and Innovation - The company has established stable partnerships with renowned clients such as Huawei, Xiaomi, and Samsung, leveraging its strong product performance and continuous technological innovation[43]. - The electromagnetic shielding film product line includes HSF6000 and HSF-USB3 series, with the latter being launched in 2014 and significantly improving signal transmission integrity[29]. - The company’s proprietary technologies, including magnetron sputtering and precision coating, enable rapid development and customization of high-end electronic materials, providing a competitive edge in the market[39]. - The company is in the mass production stage for high-performance customized electromagnetic shielding films, with an expected total investment of ¥30,000,000 and cumulative investment of ¥25,860,802.97[62]. Environmental and Sustainability Initiatives - The company has committed to sustainability initiatives, with a goal to reduce carbon emissions by 40% by 2025[130]. - The company reported a total electricity consumption of approximately 21.87 million kWh during the reporting period, equating to a greenhouse gas emission of 17,100 tons, with an emission of 0.75 tons per ten thousand yuan of output value[117]. - The company has implemented cost reduction and efficiency enhancement measures, optimizing process flows to improve raw material and equipment utilization[117]. - The company has established specialized wastewater treatment equipment to ensure that wastewater meets standards before being discharged into designated pipelines[116]. Shareholder and Governance - The company has implemented a stock option incentive plan, which was approved in the board meeting on May 27, 2022[112]. - The company will ensure compliance with relevant restrictions and regulations regarding share transfers[127]. - The company has not reported any non-operating fund occupation by major shareholders or related parties during the reporting period[138]. - The company will publicly explain and apologize if it violates any commitments made to shareholders[136]. Challenges and Risks - The company has identified potential risks related to supply chain disruptions and is implementing measures to mitigate these risks[12]. - The company faced challenges due to external factors like the pandemic and geopolitical tensions, impacting demand in the consumer electronics and new energy vehicle sectors[72]. - The penetration rate of electromagnetic shielding film products in the new energy vehicle sector is currently low, with potential demand not yet realized[86].

Financial Performance - The company's operating revenue for Q1 2022 was ¥96,030,883.93, representing a year-on-year increase of 62.88%[5]. - The net profit attributable to shareholders was a loss of ¥12,599,335.96, with a basic and diluted earnings per share of -¥0.16[5][6]. - The company reported a gross profit margin decline, with a gross profit of ¥23,750,000, down ¥14,160,000 year-on-year, primarily due to losses in the copper foil business[10]. - The net profit for Q1 2022 was a loss of ¥11,502,941.75, compared to a profit of ¥21,182,600.57 in Q1 2021[21]. - The company reported non-recurring gains of ¥3,189,308.30, after accounting for tax and minority interests[9]. - Total comprehensive income for the period was CNY 2,312,605.29, compared to CNY 16,852,605.28 in the previous year[30]. Research and Development - Research and development expenses totaled ¥23,025,905.74, accounting for 23.98% of operating revenue, an increase of 5.95 percentage points compared to the previous year[6][11]. - The company increased its R&D investment significantly, with a 116.65% rise in R&D spending compared to the previous year, driven by projects in electromagnetic shielding films and ultra-thin copper foil[11]. - Research and development expenses in Q1 2022 amounted to ¥23,025,905.74, significantly higher than ¥10,628,208.41 in Q1 2021, reflecting a 116.8% increase[20]. - Research and development expenses for Q1 2022 were CNY 15,857,467.60, an increase of 119.5% from CNY 7,242,090.76 in Q1 2021[29]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥35,561,896.00, indicating a decrease in cash flow compared to the previous year[6]. - Operating cash flow for Q1 2022 was a net outflow of ¥35,561,896.00, contrasting with a net inflow of ¥33,622,517.52 in Q1 2021[23]. - Cash received from operating activities in Q1 2022 was ¥69,442,164.47, compared to ¥86,513,063.59 in Q1 2021[23]. - The net cash flow from operating activities was -CNY 49,371,836.07, worsening from -CNY 10,122,920.32 in the same period last year[31]. - The cash flow from financing activities showed a net increase of CNY 4,844,235.61, compared to a net outflow of -CNY 483,271.20 in Q1 2021[32]. - The company received CNY 6,247,391.74 from financing activities, marking the first cash inflow in this category for the year[32]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,891,810,730.98, a decrease of 1.92% from the end of the previous year[6]. - Current assets total RMB 1,051,487,250.75, a decrease from RMB 1,088,714,496.48 at the end of 2021[16]. - Total liabilities as of Q1 2022 were ¥276,732,934.34, a decrease from ¥290,510,962.54 in the previous year[20]. - The company's total liabilities decreased to CNY 191,954,053.11 from CNY 195,334,973.43 at the end of 2021[27]. - The total assets as of March 31, 2022, were CNY 1,813,662,313.53, slightly down from CNY 1,826,552,700.52 at the end of 2021[25]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 4,962[13]. - The top 10 shareholders collectively hold 47.73% of the company's shares, with Hu Yunlian and Guangzhou Lijia Electronics Co., Ltd. being the largest shareholders[14]. - The company’s total equity attributable to shareholders decreased by 1.50% to ¥1,601,108,515.53 compared to the previous year[6]. - Total equity attributable to shareholders was ¥1,601,108,515.53 in Q1 2022, down from ¥1,625,529,923.45 in Q1 2021[20]. - The total equity as of March 31, 2022, was CNY 1,621,708,260.42, down from CNY 1,631,217,727.09 at the end of 2021[27].

Financial Performance - The company's operating revenue for 2021 was CNY 286,350,922.64, a decrease of 0.76% compared to CNY 288,536,053.02 in 2020[22]. - The net profit attributable to shareholders for 2021 was CNY 37,833,130.08, representing a significant decline of 68.27% from CNY 119,230,719.02 in 2020[22]. - The net cash flow from operating activities decreased by 75.80% to CNY 35,105,966.90 in 2021 from CNY 145,057,113.85 in 2020[22]. - The basic earnings per share for 2021 was CNY 0.47, down 68.46% from CNY 1.49 in 2020[23]. - The overall gross margin declined due to the underperformance of the copper foil business, which is still ramping up production capacity[31]. - The company's gross profit margin has been declining due to increased competition and cost control measures from smartphone manufacturers, with a risk of further decline if costs do not decrease correspondingly[86]. - The company reported a significant decline in net profit attributable to shareholders during the reporting period, influenced by factors such as low capacity utilization and increased management expenses[84]. Research and Development - The R&D expenditure as a percentage of operating revenue increased to 24.85% in 2021, up by 9.08 percentage points from 15.77% in 2020[23]. - R&D expenditure reached CNY 71,167,956.22, an increase of 56.45% year-on-year, with R&D personnel now comprising 27.94% of total employees[32]. - The company applied for 87 new patents, including 51 domestic invention patents, enhancing its intellectual property portfolio[32]. - The company emphasizes independent innovation through a combination of customized and proactive R&D approaches, enhancing product performance based on market needs[42]. - R&D investment increased by 56.45% year-on-year, totaling ¥71,167,956.22, driven by enhanced focus on electromagnetic shielding films, flexible copper-clad laminates, ultra-thin copper foils, and resistive films[69]. - The company has increased its R&D personnel and equipment, leading to a substantial rise in R&D personnel compensation and depreciation costs[70]. Market Position and Strategy - The company holds over 25% of the global market share in electromagnetic shielding films, ranking first in China and second globally, filling a gap in the high-end electromagnetic shielding film market[52]. - The company is strategically positioned for market expansion and aims to enhance its competitive edge through innovation and R&D investments[22]. - The company has established stable partnerships with renowned clients such as Huawei, Xiaomi, and Samsung, leveraging its product performance and rapid service response[54]. - The company has established a direct sales model targeting circuit board manufacturers and battery manufacturers, fostering strong relationships with downstream clients[41]. - The company aims to maintain market share and sales revenue stability for electromagnetic shielding films, striving for growth[128]. Operational Risks and Management - The company has detailed various operational risks and corresponding countermeasures in the report[4]. - The company faces risks related to the single product structure, as electromagnetic shielding films account for a large portion of revenue, making it vulnerable to market fluctuations[86]. - The company is actively working to mitigate risks associated with project delays and capacity release, which could adversely affect operational performance[89]. - The company has implemented a "production based on sales and demand forecasting" model, ensuring efficient production planning aligned with customer orders[40]. Corporate Governance - The audit report issued by Da Xin Accounting Firm is a standard unqualified opinion[6]. - The company does not have any special arrangements for corporate governance[8]. - The board of directors and supervisory board members guarantee the authenticity and completeness of the annual report[4]. - The company has established specialized committees to enhance governance and oversight functions[157]. - The company has a diverse board with members holding positions in various other organizations, enhancing its governance structure[146][147]. Environmental and Social Responsibility - The company has invested 29.48 million yuan in environmental protection measures for its subsidiary, Zhuhai Dachuang, during the reporting period[194]. - The company has a waste gas treatment rate exceeding 99% and has established a comprehensive environmental management system[190]. - The company actively participated in community service activities, including pandemic volunteer work and donations to disaster relief efforts[182]. - The company has committed to integrating ESG principles into its corporate culture as a foundation for sustainable development[180]. Future Outlook - The company plans to enhance R&D investment and optimize product structure to stabilize gross profit margins amid competitive pressures[86]. - The company aims to achieve a shielding effectiveness of over 70 dB and a tensile strength of at least 200 MPa for its high-strength electromagnetic shielding film[74]. - The company plans to accelerate the construction of fundraising projects, installation and debugging of production lines, and market promotion efforts to achieve scale revenue[128]. - Overall, the company remains optimistic about future growth, citing strong demand and innovative product pipelines[142].

Financial Performance - The company's operating revenue for 2021 was ¥286,350,922.64, a decrease of 0.76% compared to ¥288,536,053.02 in 2020[21]. - The net profit attributable to shareholders for 2021 was ¥37,833,130.08, representing a significant decline of 68.27% from ¥119,230,719.02 in 2020[21]. - The net cash flow from operating activities decreased by 75.80% to ¥35,105,966.90 in 2021 from ¥145,057,113.85 in 2020[21]. - The basic earnings per share for 2021 was ¥0.47, down 68.46% from ¥1.49 in 2020[22]. - The overall gross margin for 2021 was 51.23%, down 15.17 percentage points from 2020, attributed to the copper foil business being in a ramp-up phase[98]. - The gross profit margin declined due to various factors, including the underutilization of copper foil production capacity and increased management expenses[92]. Research and Development - The R&D expenditure as a percentage of operating revenue increased to 24.85% in 2021, up by 9.08 percentage points from 15.77% in 2020[22]. - R&D expenditure reached CNY 71,167,956.22, an increase of 56.45% year-on-year, with the R&D team expanding to 138 members, accounting for 27.94% of total employees[31]. - The company applied for 87 new patents, including 51 domestic invention patents and 36 utility model patents, enhancing its intellectual property portfolio[31]. - The company achieved a total R&D investment of ¥71,167,956.22, representing a 56.45% increase compared to the previous year[68]. - R&D expenses accounted for 24.85% of total revenue, an increase of 9.08 percentage points year-on-year[68]. Market Position and Strategy - The company holds a global market share of over 25% in the electromagnetic shielding film sector, ranking first in China and second globally, filling a gap in high-end electromagnetic shielding film production domestically[50]. - The company’s ultra-thin copper foil products are expected to benefit significantly from the global shift towards electric vehicles, with a projected demand for power batteries reaching 886 GWh by 2025, a nearly 9-fold increase from 2019[47]. - The company has established strong relationships with downstream customers, including major smartphone and electric vehicle manufacturers, facilitating targeted product development[40]. - The company is focused on high-end electronic materials and solutions, leveraging its technical advantages and customer resources to enhance market competitiveness[82]. - The company aims to maintain market share and sales revenue for electromagnetic shielding films while striving for growth in copper foil product capacity and profitability[125]. Corporate Governance - The board of directors and supervisory board members have confirmed the authenticity, accuracy, and completeness of the annual report[4]. - The company has not reported any violations in decision-making procedures for external guarantees[9]. - The company has established a modern corporate governance structure with specialized committees under the board, ensuring professional and efficient decision-making[180]. - The company has maintained compliance with regulatory requirements, with no penalties from securities regulatory agencies in the past three years[149]. - The company has a structured remuneration policy for its directors and senior management, which includes basic salary and annual bonuses[146]. Environmental and Social Responsibility - The company established an environmental management system, investing 29.4766 million RMB in environmental protection equipment during the reporting period[178]. - The company has conducted over 10 environmental inspections and training sessions, with a total of 300 participants[178]. - The company emphasized its commitment to ESG, integrating it into corporate culture for sustainable development[177]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[182]. - The company has optimized its production processes to improve material and equipment utilization, leading to reduced energy consumption and lower greenhouse gas emissions[189]. Challenges and Risks - The company faces risks related to the single product structure and concentration in downstream applications, particularly in the smartphone sector[87]. - The company is experiencing challenges in the installation and debugging of new production lines, which may affect revenue generation[88]. - The company has detailed various risks and countermeasures in the report, emphasizing the importance of investor awareness regarding investment risks[7]. - The company faced challenges due to external factors such as the COVID-19 pandemic and extreme weather, impacting project timelines and operational efficiency[32]. Future Outlook - The overall business target for 2022 is to achieve growth in operating performance amidst a recovering global economy and ongoing challenges from the pandemic[125]. - The company plans to enter the European market in Q2 2024, targeting a revenue contribution of $300 million in the first year[139]. - The company is committed to improving internal management through automation and information systems to enhance operational efficiency[124]. - Continuous investment in R&D and talent acquisition is prioritized to enhance core technology platforms, including vacuum sputtering and precision coating[123]. - Overall, the company remains optimistic about future growth, citing strong demand and a robust product pipeline[141].

Financial Performance - The company's operating revenue for Q3 2021 was ¥62,414,026.94, a decrease of 8.77% compared to the same period last year[5]. - The net profit attributable to shareholders was ¥10,245,247.22, down 65.53% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥4,598,316.63, a decline of 77.37% compared to the previous year[5]. - Basic earnings per share for the current period were ¥0.13, a decrease of 65.01% year-on-year[6]. - The net profit attributable to shareholders for the year-to-date period was ¥47,520,212.61, down 50.25% year-on-year[5]. - Total operating revenue for the first three quarters of 2021 was CNY 184,922,740.66, a decrease of 13.8% compared to CNY 214,465,328.37 in the same period of 2020[20]. - Net profit for the third quarter was CNY 51,624,212.26, down 48.2% from CNY 99,838,195.13 in the previous year[21]. - Earnings per share (EPS) for the third quarter was CNY 0.59, compared to CNY 1.19 in the same quarter of 2020[22]. - The company reported an investment income of CNY 12,966,190.40, down 46.7% from CNY 24,338,780.51 in the previous year[20]. Research and Development - The total R&D investment for the quarter was ¥20,967,033.12, an increase of 38.45% compared to the same period last year[6]. - R&D investment accounted for 33.59% of operating revenue, an increase of 11.45 percentage points year-on-year[6]. - The company is in a critical phase of R&D for several products, including ultra-thin copper foil and resistive films, leading to increased investment in R&D resources[11]. - Research and development expenses rose to CNY 43,633,604.51, an increase of 29.6% from CNY 33,692,082.59 year-over-year[20]. Assets and Liabilities - The company's total assets at the end of the reporting period were ¥1,777,793,251.07, a slight decrease of 0.26% from the end of the previous year[6]. - The total current assets decreased from ¥1,357,820,283.49 at the end of 2020 to ¥1,090,042,881.19 as of September 30, 2021[17]. - Inventory increased significantly from ¥25,559,560.09 in 2020 to ¥44,438,865.29 in 2021, indicating a 74% increase[17]. - The company's fixed assets rose from ¥70,293,106.68 in 2020 to ¥84,107,987.11 in 2021, reflecting a growth of approximately 19.7%[17]. - The total assets of the company slightly decreased from ¥1,782,356,827.47 at the end of 2020 to ¥1,777,793,251.07 as of September 30, 2021[17]. - Total liabilities decreased to CNY 136,218,648.01 from CNY 153,358,394.82, reflecting a reduction of 11.2%[19]. - Shareholders' equity increased to CNY 1,641,574,603.06, up from CNY 1,628,998,432.65, indicating a growth of 0.8%[19]. Cash Flow and Investments - The company's cash and cash equivalents as of September 30, 2021, amount to ¥398,740,719.59, a decrease from ¥416,968,524.02 at the end of 2020[16]. - Cash inflow from operating activities totaled $236,488,807.32, an increase from $229,089,665.23 in the previous quarter, reflecting a growth of approximately 1.9%[25]. - Net cash outflow from investing activities was $3,630,374.12, a significant improvement compared to a net outflow of $154,469,997.51 in the previous quarter[26]. - Cash inflow from financing activities was $24,500,000.00, down from $45,000,000.00 in the previous quarter, indicating a decrease of approximately 45.5%[26]. - The net cash and cash equivalents decreased by $4,427,804.43, compared to a decrease of $76,374,884.46 in the previous quarter, showing a substantial reduction in cash outflow[26]. - The ending balance of cash and cash equivalents was $395,240,719.59, compared to $149,268,274.35 in the previous quarter, representing a significant increase[26]. - Total cash inflow from investment activities was $2,075,545,626.00, down from $2,592,738,266.87 in the previous quarter, reflecting a decrease of approximately 19.9%[25]. - Cash paid for purchasing goods and services was $79,605,680.65, an increase from $50,890,309.69 in the previous quarter, indicating a rise of approximately 56.7%[25]. - Cash paid to employees increased to $37,905,300.56 from $32,245,237.41, marking an increase of about 17.5%[25]. - Cash paid for taxes decreased to $19,595,097.57 from $27,718,634.72, reflecting a decrease of approximately 29.3%[25]. - The company reported a net cash flow from operating activities of $58,342,779.53, down from $77,681,339.69 in the previous quarter, indicating a decline of approximately 25%[25]. Challenges and Strategic Outlook - The company faced challenges due to a decline in product prices and a decrease in shipment volumes of smart terminal products, impacting overall revenue[10]. - The company has not reported any significant new product developments or market expansion strategies in the current reporting period[15]. - Future outlook and strategic initiatives were not detailed in the provided content, suggesting a focus on operational efficiency and cost management[20].

Financial Performance - The company reported a total revenue of RMB 100 million for the first half of 2021, representing a year-on-year increase of 20%[14]. - The company's operating revenue for the first half of the year was ¥122,508,713.72, a decrease of 16.12% compared to ¥146,049,724.16 in the same period last year[21]. - Net profit attributable to shareholders was ¥37,274,965.39, down 43.35% from ¥65,804,280.66 year-on-year[21]. - The net cash flow from operating activities decreased by 48.86% to ¥31,060,655.50, primarily due to an increase in inventory[21][24]. - Basic earnings per share were ¥0.47, a decline of 42.68% compared to ¥0.82 in the previous year[23]. - The decline in net profit and net profit after deducting non-recurring gains and losses was mainly due to reduced revenue and increased period expenses[24]. - The company achieved operating revenue of ¥122,508,713.72, a decrease of 16.12% compared to the same period last year[72]. - Net profit attributable to the parent company was ¥37,274,965.39, down 43.35% year-on-year, primarily due to reduced operating revenue and increased period expenses[72]. - Operating cash flow net amount was ¥31,060,655.50, a decline of 48.86% year-on-year, mainly due to an increase in inventory[72]. Research and Development - Research and development expenses increased by 30% to RMB 15 million, focusing on innovative materials for flexible printed circuits[14]. - Research and development expenses accounted for 18.50% of operating revenue, an increase of 5.80 percentage points from 12.70% in the previous year[23]. - R&D investment totaled CNY 22.67 million, a year-on-year increase of 22.21%[51]. - The company applied for 33 new patents, including 18 invention patents and 15 utility model patents during the reporting period[51]. - The company received 11 patents, including 2 invention patents and 9 utility model patents, in the reporting period[51]. - The company has accumulated a total of 436 patents, including 200 invention patents and 179 utility model patents[51]. - The company has increased its R&D personnel from 81 to 121, representing a growth rate of 49.38%, and the proportion of R&D staff in the total workforce has risen from 23.28% to 27.50%[59]. - The company prioritizes technological innovation, maintaining a leading position in core technologies within the industry, and continuously updates its technologies based on market research and customer needs[48]. Market Expansion and Strategy - The company plans to launch two new products in Q3 2021, aiming to capture a larger market share in the flexible circuit board sector[14]. - Future outlook includes a projected revenue growth of 25% for the second half of 2021, driven by increased demand in the electronics market[14]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2022[14]. - The company is considering strategic acquisitions to enhance its product offerings, with a budget of $100 million set aside for potential deals[98]. - Market expansion plans include entering two new international markets by Q4 2021, aiming for a 10% market share in each[98]. Product Development and Innovation - The main product, electromagnetic shielding film, remains the primary source of revenue, with increased demand driven by the trend towards thinner and faster electronic products[29][30]. - The company has successfully filled a gap in the high-end electromagnetic shielding film market in China, breaking the monopoly of foreign companies[30]. - The company produces ultra-thin copper foil with a minimum thickness of 1.5μm, featuring low surface profile and high thermal stability, essential for chip packaging substrates and HDI boards[32]. - The company’s ultra-thin copper foil is crucial for lithium battery anode materials, with mainstream market thickness currently at 6μm, progressing towards 4.0μm[33]. - The company has developed ultra-thin flexible copper clad laminates (FCCL) that meet the performance standards of Japanese products, addressing the demand for high-performance materials in the FPC market[44]. - The company has developed core technologies including vacuum sputtering and precision coating, supporting its position as a high-end electronic materials platform[39]. Financial Position and Assets - The company's total assets at the end of the reporting period were ¥1,751,005,119.23, down 1.76% from ¥1,782,356,827.47 at the end of the previous year[22]. - The company's total cash and cash equivalents at the end of the first half of 2021 were ¥460,870,396.20, an increase from ¥366,196,590.97 at the end of the first half of 2020[154]. - The company's accounts receivable decreased to ¥98,724,054.80 from ¥112,637,693.75, a decline of about 12.4%[138]. - Total liabilities decreased to ¥122,103,038.06 from ¥153,358,394.82, a reduction of approximately 20.4%[140]. - Shareholders' equity totaled ¥1,628,902,081.17, slightly down from ¥1,628,998,432.65, indicating a marginal decrease[140]. Environmental and Compliance - The company does not belong to the national heavy pollution industry and has implemented measures for environmental protection, including centralized wastewater treatment[92]. - The company has established a dedicated safety department and implemented a safety production commitment system to enhance safety management and employee environmental awareness[93]. - The company has not disclosed any measures taken to reduce carbon emissions during the reporting period[94]. - There are no administrative penalties related to environmental issues during the reporting period[92]. Shareholder and Governance - The company has a lock-up period of 36 months for major shareholders, during which they cannot transfer or manage their shares[99]. - Major shareholders can only transfer up to 25% of their shares per year after the lock-up period ends, with a minimum selling price not lower than the issuance price[99]. - The company emphasizes compliance with legal regulations regarding share transfers and has established a plan for timely disclosure of any share reduction[96]. - The company committed to not transferring or entrusting the management of its shares for 12 months from the date of its stock listing[101]. Legal Matters - The company has initiated significant litigation against Shenzhen Kenuo Bridge Technology Co., Ltd. and Dongguan Yachen Electronic Materials Co., Ltd. for patent infringement, with ongoing legal proceedings[108]. - The company maintains a focus on protecting its intellectual property rights through active legal measures[109].

Financial Performance - The company's operating revenue for 2020 was ¥288,536,053.02, a decrease of 1.08% compared to ¥291,693,846.84 in 2019[22]. - The net profit attributable to shareholders for 2020 was ¥119,230,719.02, down 7.33% from ¥128,658,027.01 in 2019[22]. - The basic earnings per share for 2020 was ¥1.49, a decrease of 20.74% compared to ¥1.88 in 2019[23]. - The comprehensive gross profit margin for the year was 66.40%, a decrease of 0.89 percentage points from the previous year[87]. - The cash flow from operating activities for 2020 increased by 11.64% to ¥145,057,113.85 from ¥129,936,444.01 in 2019[22]. - The company reported a non-operating loss of ¥2,686,367.26 in 2020 from the disposal of non-current assets[28]. - The company achieved operating revenue of ¥288,536,053.02, a decrease of 1.08% compared to the previous year, while net profit attributable to shareholders was ¥119,230,719.02, down 7.33% year-on-year[73]. - Operating costs rose to ¥96,962,186.36, an increase of 1.62% year-on-year, mainly due to higher sales volume[87]. Dividend Policy - The proposed cash dividend for 2020 is CNY 5.00 per 10 shares, totaling CNY 40,000,000, which accounts for 33.55% of the net profit attributable to shareholders[5]. - The cash dividend for 2019 was also 5.00 RMB per 10 shares, amounting to 40,000,000.00 RMB, accounting for 31.09% of the net profit attributable to shareholders[117]. - The company will not issue bonus shares or convert capital reserves into share capital in its profit distribution plans[118]. - The company has committed to distributing at least 10% of the distributable profits of the parent company in cash dividends each year[134]. Research and Development - R&D investment reached CNY 45.49 million, a year-on-year increase of 34.06%[60]. - Total R&D expenditure accounted for 15.77% of operating revenue, up from 11.63% last year, representing a 4.14 percentage point increase[60]. - The company applied for 50 new patents, including 24 invention patents and 26 utility model patents during the reporting period[58]. - A total of 69 patents were granted, including 6 invention patents and 58 utility model patents, bringing the cumulative total to 188 granted patents[58]. - The number of R&D personnel increased to 86, representing 25.60% of the total workforce, up from 22.45% last year[65]. - The company is focusing on developing core technologies such as electromagnetic shielding films and ultra-thin copper foils, enhancing its competitive edge[67]. Market Position and Strategy - The company holds over 25% of the global market share in electromagnetic shielding films, ranking first in China and second globally, filling a significant gap in the high-end market[47]. - The global PCB market value exceeded $60 billion in 2020, with a continuous increase in demand for high-performance circuit boards driven by industries like 5G communications and automotive electronics[44]. - The company’s revenue from the electromagnetic shielding film is expected to grow due to increasing demand driven by the trend towards lighter and thinner electronic products[34]. - The company has established stable partnerships with renowned clients such as Huawei, Xiaomi, and Samsung, enhancing its influence in the industry[48]. - The company plans to continue expanding its market share through strategic pricing adjustments and increased R&D investment[83]. Operational Risks and Management - The company has detailed various operational risks and corresponding mitigation measures in the report[4]. - The company is facing risks related to potential declines in gross margin due to increased competition and market dynamics, which could impact profitability[79]. - The company is enhancing internal management through the implementation of an ERP system and a stock incentive plan to boost operational efficiency[77]. - The company is committed to maintaining its competitive edge amid industry risks, including the potential for new entrants and technological advancements that could alter the competitive landscape[81]. Corporate Governance - The report includes a standard unqualified audit opinion from Da Xin Certified Public Accountants[5]. - The company has confirmed that there are no non-operational fund occupations by controlling shareholders or related parties[7]. - There are no violations of decision-making procedures regarding external guarantees[7]. - The company has not disclosed any special arrangements for corporate governance[8]. Shareholder Information - The total number of ordinary shareholders increased from 5,486 to 6,298 during the reporting period, reflecting a growth of approximately 14.7%[175]. - The total number of ordinary shares remained at 80,000,000, with limited sale shares decreasing from 61,746,847 to 43,337,482, a reduction of 29.8%[170]. - The top shareholder, Hu Yunlian, holds 14,555,802 shares, representing 18.19% of the total shares[177]. - The company has a total of 7,200,000 shares held by Guangzhou Meizhi Electronics Limited Partnership[181]. - The report highlights that the company has no known related party transactions among other shareholders[181]. Legal and Compliance - The company is involved in significant litigation, including two cases against Shenzhen Kono Bridge Technology Co., Ltd. for patent infringement, with court dates set for April 2021[137]. - The company has confirmed that it does not have any major lawsuits or arbitration matters pending, aside from those already disclosed[137]. - The company has made commitments to avoid conflicts of interest and ensure fair pricing in related party transactions[132]. Sustainability and Social Responsibility - The company has actively participated in poverty alleviation efforts, donating 1,000,000 RMB to improve housing, education, and public infrastructure in the targeted poverty alleviation area[155]. - Overall, the company remains committed to sustainable practices, with a goal to reduce carbon emissions by 30% over the next five years[200].

Financial Performance - Net profit attributable to shareholders decreased by 44.06% year-on-year, amounting to CNY 19,468,569.71[6] - Operating revenue for the period was CNY 58,959,196.40, reflecting a decline of 7.05% compared to the same period last year[6] - Basic earnings per share decreased by 45.45% to CNY 0.24[6] - Total revenue for Q1 2021 decreased by 42.35% to CNY 23,680,253.03 compared to CNY 41,076,138.54 in Q1 2020[15] - Net profit for Q1 2021 was CNY 21,182,600.57, down 40.51% from CNY 35,609,504.77 in the same period last year[15] - Operating profit for Q1 2021 was ¥18,581,851.90, down 43.5% from ¥32,907,717.70 in the same period last year[31] - Net profit for Q1 2021 was ¥16,852,605.28, a decline of 46.0% compared to ¥31,213,597.04 in Q1 2020[31] - The total comprehensive income for Q1 2021 was ¥21,182,600.57, compared to ¥35,609,504.77 in Q1 2020[30] Cash Flow and Liquidity - The net cash flow from operating activities increased significantly by 146.32%, totaling CNY 33,622,517.52[6] - Cash received from sales increased by 53.69% to CNY 82,832,964.33, primarily due to higher sales collections[15] - The company reported a significant increase in cash outflow for fixed asset purchases, totaling CNY 104,437,163.37, up 234.91% from CNY 31,183,205.31 in Q1 2020[15] - The company's cash and cash equivalents were CNY 401,969,856.04 as of March 31, 2021, compared to CNY 416,968,524.02 at the end of 2020[18] - The total cash and cash equivalents at the end of Q1 2021 were CNY 381,038,536.67, compared to CNY 149,608,827.95 at the end of Q1 2020, showing a significant increase of 154.1%[36] - The company experienced a net decrease in cash and cash equivalents of CNY 16,345,755.23 in Q1 2021, compared to a decrease of CNY 67,983,865.11 in Q1 2020[36] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 1,789,112,368.91, a 0.38% increase compared to the end of the previous year[6] - The total liabilities decreased to CNY 138,931,335.69 from CNY 153,358,394.82, indicating improved financial stability[20] - Other receivables increased by 81.40% to RMB 1,089,394.31 due to an increase in petty cash and deposits[14] - Inventory rose by 30.09% to RMB 33,249,411.53 primarily due to the trial production of the lithium battery copper foil project, leading to an increase in raw material stock[14] - Construction in progress increased by 36.27% to RMB 375,773,257.81 due to the expansion of the ultra-thin copper foil project and fundraising project construction[14] - Notes payable surged by 160.31% to RMB 9,804,090.62 as the company increased its use of bank acceptance bills for payment[14] - Employee compensation payable decreased by 42.77% to RMB 3,898,230.66 due to the payment of bonuses accrued in the previous year[14] - Tax payable decreased by 76.72% to RMB 1,809,342.33 primarily due to a reduction in income tax payable[14] - Other non-current assets decreased by 44.54% to RMB 15,787,661.86 mainly due to a reduction in prepaid equipment payments[14] Shareholder Information - The total number of shareholders at the end of the reporting period was 5,486[11] - The top shareholder, Hu Yunlian, held 18.19% of the shares, totaling 14,555,802 shares[11] - Guangzhou Lijia Electronics Co., Ltd. was the second-largest shareholder with 17.61% ownership, holding 14,086,260 shares[11] Research and Development - Research and development expenses accounted for 18.03% of operating revenue, an increase of 6.11 percentage points year-on-year[6] - R&D expenses increased by 35.89% to CNY 10,628,208.41, reflecting the company's commitment to enhancing research and development efforts[15] - Research and development expenses for Q1 2021 were CNY 10,628,208.41, an increase of 40.5% compared to CNY 7,559,307.69 in Q1 2020[27] - The company has not disclosed any new product or technology developments in this report[14]

Financial Performance - The company's operating revenue for 2020 was ¥288,536,053.02, a decrease of 1.08% compared to ¥291,693,846.84 in 2019[21]. - The net profit attributable to shareholders for 2020 was ¥119,230,719.02, down 7.33% from ¥128,658,027.01 in 2019[21]. - The net profit after deducting non-recurring gains and losses was ¥86,043,968.48, a decline of 17.28% from ¥104,017,585.00 in 2019[21]. - The cash flow from operating activities increased by 11.64% to ¥145,057,113.85 in 2020, compared to ¥129,936,444.01 in 2019[21]. - The basic earnings per share for 2020 was ¥1.49, a decrease of 20.74% from ¥1.88 in 2019[22]. - The comprehensive gross profit margin for 2020 was 66.40%, a decrease of 0.89 percentage points from 2019[90]. - The company reported a total profit of 33,186,750.54 RMB for the year, with a significant increase from the previous year's profit of 24,640,442.01 RMB, representing a growth of approximately 34%[28]. - The company achieved operating revenue of ¥288,536,053.02, a decrease of 1.08% compared to the previous year[76]. - Net profit attributable to the parent company was ¥119,230,719.02, down 7.33% year-on-year[86]. Dividend Policy - The company plans to distribute a cash dividend of 5.00 RMB per 10 shares, totaling 40,000,000.00 RMB, which accounts for 33.55% of the net profit attributable to shareholders for the year 2020[5]. - The proposed cash dividend for 2019 was also 5.00 RMB per 10 shares, amounting to 40,000,000.00 RMB, accounting for 31.09% of the net profit attributable to shareholders[116]. - The company does not plan to increase capital stock through capital reserves or issue bonus shares[116]. - The company is committed to a differentiated cash dividend policy based on industry characteristics, development stage, and profitability[116]. Research and Development - R&D investment reached CNY 45.49 million, a year-on-year increase of 34.06%[62]. - R&D expenditure accounted for 15.77% of total revenue, up from 11.63% in the previous year, representing a 4.14% increase[62]. - The company applied for 50 new patents, including 24 invention patents and 26 utility model patents during the reporting period[60]. - The company achieved a total of 69 patent grants, including 6 invention patents and 58 utility model patents in the current year[60]. - The company emphasizes innovation through a combination of customized and proactive R&D approaches, continuously improving product performance based on market demands[41]. Market Position and Products - The company holds over 25% of the global market share in electromagnetic shielding films, ranking first domestically and second globally, filling a significant gap in China's high-end electromagnetic shielding film market[48]. - The company’s main revenue source during the reporting period was the electromagnetic shielding film, which is crucial for modern electronic products to mitigate electromagnetic interference[33]. - The company has developed two major series of electromagnetic shielding films, HSF6000 and HSF-USB3, with the latter featuring a unique micro-needle structure that enhances shielding effectiveness and reduces signal transmission loss[34]. - The company’s ultra-thin flexible copper clad laminate (FCCL) is essential for high-density interconnect (HDI) technology, which is increasingly demanded by the rapidly evolving electronics market[35]. - The company’s ultra-thin copper foil can reach a thickness of 1.5μm, meeting the requirements for advanced chip packaging substrates and lithium battery negative electrode materials[36]. Operational Risks and Governance - The company has detailed various operational risks and corresponding mitigation measures in the report[4]. - The company does not have any non-operating fund occupation by controlling shareholders or related parties[7]. - There are no violations of decision-making procedures regarding external guarantees[7]. - The company has not disclosed any special arrangements for corporate governance[8]. - The company emphasizes the importance of the accuracy and completeness of the financial report, with key personnel affirming its integrity[5]. Strategic Initiatives - The company plans to continue focusing on market expansion and new product development to maintain competitive advantage[86]. - The company aims to enhance its R&D capabilities and establish a "3+N" product matrix to drive growth and innovation[111]. - The company is focusing on developing new products such as ultra-thin copper foil and flexible copper-clad laminates to enhance core competitiveness[63]. - The company has implemented an equity incentive plan to enhance its development motivation[80]. Shareholder and Management Commitments - The company commits to timely and accurate disclosure of share reductions, with a notice period of 3 trading days prior to any planned sales[122]. - The company guarantees that it will not engage in any fraudulent issuance of shares during the public offering and listing process[129]. - The controlling shareholder and actual controller promised not to interfere with the company's management activities or infringe on company interests[131]. - The company has established a commitment to not refuse obligations due to changes in position or resignation[122]. Environmental and Social Responsibility - The company has implemented strict environmental protection measures, ensuring that wastewater is treated by a centralized facility and solid waste is managed by qualified units[166]. - The company donated 100,000 RMB to support poverty alleviation efforts in Yangshan County, Qingyuan City, Guangdong Province[155]. - The company has committed to continue participating in poverty alleviation initiatives and responding to national calls for social responsibility[158]. Legal and Compliance - The company has not reported any significant financial misstatements or non-standard audit opinions during the reporting period[136]. - The company is actively monitoring ongoing litigation and will take necessary legal actions to protect its rights and interests[139]. - The company has faced significant litigation, including two cases against Shenzhen Kenuo Bridge Technology Co., Ltd. and Dongguan Yachen Electronic Materials Co., Ltd. for patent infringement, with court dates yet to be determined[139].

Financial Performance - Net profit attributable to shareholders decreased by 9.14% to CNY 95,524,043.79 for the first nine months of the year[6]. - Revenue for the first nine months decreased by 7.15% to CNY 214,465,328.37 compared to the same period last year[6]. - Basic and diluted earnings per share decreased by 26.99% to CNY 1.19[7]. - Total operating revenue for Q3 2020 was ¥68,415,604.21, a decrease of 25.5% compared to ¥91,919,487.59 in Q3 2019[25]. - Net profit for Q3 2020 was ¥31,984,944.58, a decline of 23.8% from ¥41,997,383.83 in Q3 2019[26]. - The company reported a total profit of ¥35,837,856.72 for Q3 2020, a decrease of 25.2% from ¥47,953,077.46 in Q3 2019[26]. - The company recorded a total revenue of CNY 221,924,583.65 from sales of goods and services in the first nine months of 2020, slightly lower than CNY 222,090,202.57 in the same period of 2019[33]. - The company reported total comprehensive income of CNY 26,281,455.42 for Q3 2020, down from CNY 36,306,582.46 in Q3 2019[32]. Assets and Liabilities - Total assets increased by 5.80% to CNY 1,662,231,308.57 compared to the end of the previous year[6]. - Current assets totaled RMB 1,348,385,114.89, down from RMB 1,430,310,175.68, indicating a decrease of about 5.7%[16]. - Non-current assets increased significantly to RMB 313,846,193.68 from RMB 140,844,589.96, marking a growth of approximately 123%[17]. - Total liabilities increased to RMB 66,892,726.90 from RMB 31,154,379.10, representing a growth of approximately 114.5%[18]. - The company's total equity attributable to shareholders rose to RMB 1,578,076,221.21 from RMB 1,522,552,177.42, an increase of about 3.7%[18]. - Total assets amounted to ¥1,611,593,764.64 as of the end of Q3 2020, compared to ¥1,523,123,116.23 at the end of Q3 2019[24]. - The total equity increased to ¥1,525,855,147.87 in Q3 2020, compared to ¥1,478,844,625.74 in Q3 2019, reflecting a growth of 3.2%[24]. Cash Flow - Net cash flow from operating activities for the first nine months was CNY 77,681,339.69, a slight decrease of 0.61% compared to the previous year[6]. - Cash flow from operating activities for the first nine months of 2020 was CNY 77,681,339.69, slightly lower than CNY 78,160,629.61 in the same period of 2019[34]. - Cash inflow from investment activities significantly increased to CNY 2,592,695,081.03 from CNY 810,933,210.02 year-on-year[37]. - Cash paid for the purchase of fixed assets and other long-term assets rose by 1,053.68% to ¥192,208,264.38, reflecting significant equipment purchases and project payments[14]. - Cash received from investment redemption increased by 217.82% to ¥2,568,000,000.00, mainly from the redemption of maturing wealth management products[14]. - The ending cash and cash equivalents balance decreased to CNY 142,030,773.83 from CNY 269,198,093.50 year-on-year[37]. Research and Development - R&D investment as a percentage of revenue increased by 5.92 percentage points to 15.71%[7]. - R&D expenses rose by 49.02% to ¥33,692,082.59, indicating increased investment in research and development[14]. - R&D expenses increased to ¥15,144,634.07 in Q3 2020, up 76.6% from ¥8,575,298.54 in Q3 2019[25]. - The company plans to continue investing in R&D to enhance product offerings and market competitiveness[25]. Shareholder Information - The total number of shareholders at the end of the reporting period was 6,852[11]. - The top shareholder, Hu Yunlian, holds 18.19% of the shares, totaling 14,555,802 shares[11]. - The company distributed dividends amounting to ¥44,914,750.00, an increase of 864.25% compared to the previous period, indicating a strong return to shareholders[14]. Future Outlook - The company is focused on expanding its market presence and developing new products, although specific figures were not disclosed in the call[43]. - Future guidance indicates a commitment to maintaining growth, with an emphasis on innovation and market expansion strategies[43]. - The company has not reported any significant mergers or acquisitions in the recent quarter, focusing instead on organic growth[43]. - The company is adapting to new revenue and leasing standards, which may impact future financial reporting[45].