Financial Performance - The company's operating revenue for 2022 was approximately ¥4.21 billion, a decrease of 26.62% compared to ¥5.73 billion in 2021[25]. - Net profit attributable to shareholders for 2022 was approximately ¥251.64 million, down 72.37% from ¥910.59 million in 2021[25]. - The basic earnings per share for 2022 was ¥0.075, a decrease of 72.53% compared to ¥0.273 in 2021[26]. - The net cash flow from operating activities decreased by 70.84% to approximately ¥250.40 million in 2022 from ¥858.81 million in 2021[25]. - The company's total assets as of the end of 2022 were approximately ¥6.88 billion, a decrease of 4.99% from ¥7.24 billion at the end of 2021[26]. - The net profit after deducting non-recurring gains and losses was approximately ¥216.33 million, down 75.19% from ¥871.99 million in 2021[25]. - The company's total assets at the end of 2022 were RMB 687,577.99 million, a decrease of 4.99% from the beginning of the reporting period[94]. - The main business revenue was RMB 4,097.63 million, a decrease of 25.97%, with a main business gross margin of 19.19%, down 9.42 percentage points[97]. - The company's cash flow from operating activities was RMB 250.40 million, a decline of 70.84% year-on-year[94]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.10 per 10 shares, totaling RMB 33,333,334.00, which represents 13.25% of the net profit attributable to ordinary shareholders for 2022[7]. - The cash dividend distribution plan has been approved by the board and requires approval from the annual general meeting[195]. - The cash dividend policy complies with the company's articles of association and shareholder resolutions[196]. - The independent directors have fulfilled their responsibilities and provided unanimous consent for the dividend proposal[196]. - The company has established a profit distribution policy ensuring that cash dividends will not be less than 10% of the distributable profits for the year[192]. Research and Development - Research and development expenses accounted for 4.57% of operating revenue in 2022, an increase of 0.43 percentage points from 4.14% in 2021[26]. - The total R&D expenditure for the year was ¥192,275,658.30, a decrease of 19.03% compared to the previous year[64]. - The company obtained 171 new invention patents and 278 utility model patents during the reporting period, bringing the total to 1,020 invention patents and 2,007 utility model patents[62]. - The company has a total of 1,338 R&D personnel, accounting for 39.81% of the total workforce, indicating a strong focus on innovation and technology development[72]. - The company is actively developing low-power products to support carbon neutrality goals, with a focus on dynamic privacy protection technology and low blue light eye protection[60]. Market Position and Strategy - The company reported a global ranking of sixth in laptop panel shipments and ninth in automotive display panel shipments in 2022, highlighting its competitive position in the market[53]. - The company is committed to expanding its market presence and enhancing its product offerings through strategic partnerships and technological advancements[54]. - The company aims to leverage technological innovation to enhance application scenarios and product offerings in the display sector[128]. - The company is focused on maintaining transparency in its remuneration practices and governance structure[167]. - The company is committed to improving operational efficiency and financial performance through effective risk management strategies[160]. Corporate Governance - The board of directors and supervisory board members have confirmed the accuracy and completeness of the annual report[4]. - The company has not faced any significant issues regarding independence from its controlling shareholders or related party transactions[152]. - The company has established a comprehensive supply chain management system, ensuring stable supply through diversified supplier relationships and proactive risk management, which helped navigate supply chain disruptions during the reporting period[42]. - The company has maintained a transparent information disclosure process, ensuring accuracy and completeness in compliance with regulatory requirements[151]. - The company has established an effective internal control system to ensure compliance with financial reporting standards and optimize management processes[150]. Innovation and Technology - The company has achieved significant advancements in various display technologies, including on-cell touch technology and negative IPS liquid crystal panel technology, enhancing product performance and reducing power consumption[59]. - The company has successfully developed dynamic privacy anti-peep technology, leading the global market share in high-end business anti-peep laptop panels[72]. - The company is focusing on the development of Micro LED technology, which is expected to play a crucial role in the VR/AR display market and the metaverse industry in the long term[56]. - The company has established deep collaborations with global semiconductor manufacturers to accelerate the mass production of Mini LED in automotive and laptop products[57]. - The company has implemented digital transformation initiatives, achieving recognition as a smart manufacturing demonstration factory in Jiangsu Province[41]. Risk Factors - The company has described potential risks in its report, which investors should be aware of[4]. - The company faced challenges due to macroeconomic factors and a decline in market demand, impacting overall performance[26]. - Accounts receivable at the end of the reporting period amounted to 60,294.98 million yuan, representing 8.77% of total assets, posing a potential collection risk[87]. - Inventory at the end of the reporting period was 130,934.72 million yuan, accounting for 19.04% of total assets, with risks of impairment due to market fluctuations[88]. Employee and Management - The company has a total of 6 core technical personnel, with individual remuneration ranging from 47.54 million CNY to 145.76 million CNY[158]. - The total number of employees in the parent company is 3,263, with a combined total of 3,361 employees including major subsidiaries[180]. - The company has increased its R&D personnel from 454 to 504, representing a growth rate of approximately 11%[70]. - The company has a training plan that includes diverse training programs to enhance employee skills and organizational innovation[183]. - The company follows a differentiated compensation policy based on market data and employee performance[182].

证券代码：688055 证券简称：龙腾光电 昆山龙腾光电股份有限公司 投资者关系活动记录表 （2021 年度业绩暨现金分红暨 2022 年第一季度业绩说明会） 编号：2022-001 | --- | --- | --- | --- | |-----------------|-------|-------------------------------------------------------|--------------------------------------------------------| | | | □特定对象调研 | □分析师会议 | | 投资者关 | | □媒体采访 | ☑业绩说明会 | | 系活动类 | | □新闻发布会 | □路演活动 | | 别 | | □其他 | | | 参与单位 及人员 | | | 全体投资者均可通过上证路演中心参加本次说明会 | | 时间 | 2022 | 年 5 月 16 日 | 13:00-14:30 | | 地点 | | 上证路演中心（ | http://roadshow.sseinfo.com ） | | | 陶 | 园 董事长、总经理 蔡志承 ...

Financial Performance - The company's operating revenue for Q3 2022 was ¥872,167,257.67, a decrease of 41.21% compared to ¥1,483,476,601.32 in the same period last year[7] - Net profit attributable to shareholders was ¥20,412,925.17, down 92.19% from ¥261,521,527.07 year-on-year[7] - The net profit after deducting non-recurring gains and losses was ¥1,559,635.95, a decline of 99.39% compared to ¥256,940,683.14 in the previous year[7] - Total operating revenue for the first three quarters of 2022 was CNY 3,336,853,722.81, a decrease of 25.4% compared to CNY 4,466,210,233.63 in the same period of 2021[36] - Net profit for the third quarter of 2022 was CNY 261,196,448.33, a decline of 65.7% compared to CNY 761,675,818.15 in the same quarter of 2021[39] - Total comprehensive income amounted to CNY 260,761,758.55 for the first three quarters of 2022, compared to CNY 761,697,925.28 in the same period of 2021, indicating a significant decline[42] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥115,867,051.80, a decrease of 84.29% from ¥737,711,098.83 in the same period last year[7] - Cash inflow from operating activities totaled CNY 3,891,131,233.16, while cash outflow was CNY 3,775,264,181.36, resulting in a net cash inflow[45] - Cash flow from investing activities showed a net outflow of CNY 27,844,175.43, an improvement compared to a net outflow of CNY 391,453,440.81 in the previous year[47] - Cash flow from financing activities resulted in a net outflow of CNY 111,938,741.93, compared to a net outflow of CNY 349,245,477.26 in the same period last year[48] Assets and Liabilities - Total assets at the end of the reporting period were ¥6,960,108,155.71, a decrease of 3.82% from ¥7,236,810,210.71 at the end of the previous year[10] - The company's total liabilities decreased to CNY 2,142,083,032.28 from CNY 2,607,014,344.40 year-over-year, representing a reduction of 17.8%[35] - The company's current assets totaled RMB 3,314,090,544.92, down from RMB 3,546,380,094.77 in the previous year, indicating a decrease of about 6.56%[28] - Non-current assets totaled RMB 3,646,017,610.79, slightly down from RMB 3,690,430,115.94, which is a decrease of approximately 1.20%[28] Shareholder Equity - Shareholders' equity attributable to the parent company increased by 4.07% to ¥4,818,025,123.43 from ¥4,629,795,866.31 at the end of the previous year[10] - The company's total equity increased to CNY 4,818,025,123.43 from CNY 4,629,795,866.31, reflecting a growth of 4.1%[35] Research and Development - R&D investment totaled ¥50,232,822.29, a decrease of 28.26% from ¥88,401,090.98 year-on-year, representing 5.76% of operating revenue[7] - Research and development expenses for the first three quarters of 2022 were CNY 140,497,086.32, down 17.2% from CNY 169,627,149.24 in 2021[36] Market Conditions - The company reported a significant decline in market demand and pricing pressures in the display panel industry, contributing to the overall downturn in financial performance[18] Ownership Structure - The top two shareholders hold a combined 89.66% of the company's shares, indicating a high concentration of ownership[22] - The company has no reported related party transactions or agreements among the top shareholders as of the announcement date[25] Other Financial Metrics - Basic earnings per share for the reporting period were ¥0.006, down 92.19% from ¥0.078 in the same period last year[7] - The weighted average return on equity decreased by 6.31 percentage points to 0.42% from 6.73% year-on-year[7] - The company reported a financial expense of CNY -9,241,236.31, compared to CNY 8,043,161.04 in the previous year, indicating a significant improvement[36] - Other income for the third quarter of 2022 was CNY 17,855,555.23, an increase from CNY 5,231,704.89 in the same quarter of 2021[39] - The company received CNY 680,000,000.00 from investment recoveries, an increase from CNY 550,005,076.81 in the previous year[46] - Total cash inflow from financing activities was CNY 3,617,553,096.91, significantly higher than CNY 1,048,842,593.98 in the previous year[48] - The company paid CNY 3,614,403,849.82 in debt repayments, compared to CNY 1,359,625,525.99 in the previous year, indicating increased financial obligations[48]

Financial Performance - The company reported a total revenue of 500 million CNY for the first half of 2022, representing a year-on-year increase of 20%[2]. - The company's revenue for the first half of 2022 was approximately ¥2.46 billion, a decrease of 17.37% compared to ¥2.98 billion in the same period last year[30]. - The company's operating revenue decreased by 17.37% compared to the same period last year[34]. - The company achieved a revenue of 246,468.65 million CNY, maintaining relative stability despite market challenges[82]. - The company's operating revenue for the reporting period was ¥2,464,686,465.14, a decrease of 17.37% compared to ¥2,982,733,632.31 in the same period last year[106]. Profitability - Net profit attributable to shareholders was approximately ¥240.78 million, down 51.86% from ¥500.15 million year-on-year[30]. - Basic earnings per share decreased to ¥0.072, down 51.86% from ¥0.150 in the same period last year[30]. - Net profit attributable to shareholders decreased by 51.86% year-on-year, with basic earnings per share down by 51.86%[34]. Cash Flow - The net cash flow from operating activities was approximately ¥31.89 million, a significant decline of 91.90% compared to ¥393.62 million in the previous year[30]. - The net cash flow from operating activities decreased by 91.90% year-on-year, primarily due to a reduction in cash received from sales and an increase in cash paid for goods and services[34]. - The net cash flow from financing activities reached ¥433,886,658.84, compared to a negative flow of ¥284,144,045.44 in the previous year, indicating improved liquidity[106]. Research and Development - Research and development expenses increased by 30% to 50 million CNY, focusing on AIoT and VR technologies[2]. - The R&D investment as a percentage of revenue increased to 3.66%, up 0.32 percentage points from 3.34% in the previous year[30]. - R&D investment totaled approximately ¥90.26 million, representing a decrease of 9.38% compared to the same period last year, with R&D expenses accounting for 3.66% of operating revenue, an increase of 0.32 percentage points[57]. - The company is focusing on R&D in advanced display technologies, including dynamic privacy protection and metal mesh On-cell touch technology[43]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2023[2]. - The company provided a future outlook projecting a revenue growth of 25% for the second half of 2022, driven by new product launches and market expansion[2]. - Market expansion plans include entering two new international markets by the end of the fiscal year, which is anticipated to increase user base by 30%[190]. Product Development - The company aims to launch three new products in Q3 2022, which are anticipated to contribute an additional 100 million CNY in revenue[2]. - The company has launched the world's first partitioned dynamic privacy anti-peep desktop display panel and a 16.0-inch partitioned dynamic privacy anti-peep notebook panel, enhancing consumer privacy protection[54]. - The company has developed a new 6.8-inch water droplet touch multifunction dynamic privacy anti-peep mobile phone, which has been successfully mass-produced and launched in multiple overseas markets[54]. Risks and Challenges - The company has identified potential risks including supply chain disruptions and regulatory changes, which could impact future performance[2]. - The company has recognized the risk of declining market competitiveness due to technological updates, particularly with the rise of Mini LED and AMOLED technologies[90]. - The company faces risks from macroeconomic uncertainties, including ongoing global pandemic impacts and geopolitical tensions, which could adversely affect its international operations[98]. Shareholder Commitments - The controlling shareholder, Guochuang Group, committed to not transferring or entrusting the management of shares for 36 months post-IPO, with a subsequent 2-year lock-up period for any share reduction[152]. - The company will ensure that any share reduction after the lock-up period will not be below the IPO price, with adjustments made for any dividends or stock splits[152]. - The company has committed to stabilizing its stock price by implementing measures such as stock buybacks and increasing shareholdings by major shareholders if certain conditions are met[157]. Environmental Responsibility - The company has obtained a pollution discharge permit with a total annual discharge limit of 607.3 tons for COD, and the half-year total discharge was 250.6 tons, which is within the limit[138]. - The company has implemented a self-monitoring plan for environmental protection, ensuring compliance with national and local regulations[144]. - The company has actively promoted green and paperless office practices, achieving virtualization of desktop, server, and storage systems to reduce energy consumption[149].

Financial Performance - The company's operating revenue for Q1 2022 was ¥1,313,013,624.29, representing a decrease of 12.30% compared to the same period last year[5] - The net profit attributable to shareholders was ¥155,176,535.23, down 32.61% year-over-year[5] - The net cash flow from operating activities was negative at ¥211,142,218.92, a decline of 223.47% compared to the previous year[5] - Total revenue for Q1 2022 was ¥1,313,013,624.29, a decrease of 12.3% compared to ¥1,497,234,930.37 in Q1 2021[37] - Total profit for Q1 2022 was CNY 175.03 million, compared to CNY 266.40 million in Q1 2021, indicating a decrease of approximately 34.3%[40] - Operating profit for Q1 2022 was CNY 174.85 million, down from CNY 265.59 million in the same period last year, a decline of about 34.2%[40] - The net profit for Q1 2022 was CNY 155.18 million, down 32.6% from CNY 230.28 million in Q1 2021[43] - The total comprehensive income for Q1 2022 was CNY 155.19 million, down from CNY 230.26 million in Q1 2021, a decrease of about 32.6%[43] Research and Development - Research and development expenses totaled ¥45,832,317.48, accounting for 3.49% of operating revenue, an increase of 0.27 percentage points[7] - R&D expenses for Q1 2022 were approximately CNY 45.83 million, a decrease from CNY 48.18 million in Q1 2021, representing a decline of about 7.2%[40] - Investment in R&D increased by 20%, totaling $150 million, focusing on innovative technologies[52] - The company introduced 135 new patents during the reporting period, enhancing its technological reserves and innovation capabilities[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥7,982,705,474.75, reflecting a growth of 10.31% from the end of the previous year[7] - Total current assets rose to ¥4,314,158,460.01 in Q1 2022, compared to ¥3,546,380,094.77 in Q1 2021, showing improved liquidity[29] - Total liabilities increased to ¥3,194,791,577.70 in Q1 2022 from ¥2,607,014,344.40 in Q1 2021, indicating higher leverage[32] - The company's equity attributable to shareholders increased to ¥4,787,913,897.05 in Q1 2022 from ¥4,629,795,866.31 in Q1 2021, reflecting retained earnings growth[35] Cash Flow and Financing - The company's cash and cash equivalents increased to RMB 1,910,183,695.73 as of March 31, 2022, up from RMB 1,130,330,571.10 at the end of 2021[26] - The cash flow from operating activities for Q1 2022 was negative at CNY -211.14 million, contrasting with a positive CNY 171.00 million in Q1 2021[48] - The company reported a net cash inflow from financing activities of CNY 905.07 million in Q1 2022, compared to a net outflow of CNY -80.87 million in Q1 2021[51] - Short-term borrowings rose to ¥1,877,675,127.94 in Q1 2022 from ¥1,000,949,943.49 in Q1 2021, indicating increased financing needs[32] Market and Product Development - The company has successfully shipped over 7 million privacy-protecting laptop panels, leveraging its leading technology in the high-end business market[23] - The company launched a globally innovative 6.8-inch water-drop touch control multifunctional dynamic privacy protection mobile phone, which has entered mass production and is being marketed internationally[23] - The company has expanded its privacy protection technology applications to various fields, including smartphones, automotive, medical, and finance, with new high-value products introduced[23] - The company completed an acquisition of a tech startup for $50 million, expected to enhance product offerings[52] - New product launch scheduled for Q3 2023, anticipated to contribute an additional $200 million in revenue[52] Strategic Initiatives - The company has adjusted its stock incentive plan, granting 30 million restricted stock units to 134 eligible participants[20] - The company aims to enhance its management team's cohesion and creativity through the stock incentive plan approved in January 2022[19] - The company plans to implement a new marketing strategy aimed at increasing brand awareness by 50% over the next year[52] - The company is committed to overcoming challenges posed by the pandemic while implementing measures to mitigate risks to its operations[24] - The company is closely monitoring the impact of COVID-19 on its operations, particularly in key regions like the Yangtze River Delta and Pearl River Delta, which may affect logistics and marketing activities[24] User and Revenue Growth - User base expanded to 5 million active users, representing a growth of 25% compared to the previous quarter[52] - The company provided guidance for Q2 2023, expecting revenue between $1.3 billion and $1.4 billion, indicating a potential growth of 8% to 17%[52] - Market expansion efforts led to a 30% increase in international sales, now accounting for 40% of total revenue[52] - Operating margin improved to 25%, up from 22% in the previous year, reflecting better cost management[52] - Customer retention rate improved to 90%, up from 85% in the previous quarter[52]

Financial Performance - The company's operating revenue for 2021 was ¥5,732,954,114.70, representing a 30.81% increase compared to ¥4,382,567,744.07 in 2020[34]. - The net profit attributable to shareholders for 2021 was ¥910,593,804.68, a significant increase of 247.47% from ¥262,061,563.66 in 2020[34]. - The net profit after deducting non-recurring gains and losses for 2021 was ¥871,993,427.92, up 284.23% from ¥226,945,024.80 in 2020[34]. - The net cash flow from operating activities for 2021 was ¥858,814,770.39, which is a 197.41% increase compared to ¥288,768,969.91 in 2020[34]. - The total assets at the end of 2021 were ¥7,236,810,210.71, reflecting a 27.76% increase from ¥5,664,394,464.72 at the end of 2020[34]. - The net assets attributable to shareholders at the end of 2021 were ¥4,629,795,866.31, a 23.38% increase from ¥3,752,450,565.26 at the end of 2020[34]. - The basic earnings per share rose to 0.273 RMB, reflecting a 225.00% increase year-on-year[37]. - The diluted earnings per share also increased to 0.273 RMB, marking a 225.00% growth from the previous year[37]. - The weighted average return on equity increased to 21.73%, up 13.99 percentage points from the previous year[37]. - The gross profit margin for the main business was 28.62%, an increase of 6.64 percentage points year-on-year[121]. Research and Development - The company plans to enhance its product offerings through ongoing research and development in AIoT and AR/VR technologies[24]. - The company's R&D investment as a percentage of operating income decreased to 5.03%, down by 1.02 percentage points from the previous year[37]. - R&D investment reached 288 million yuan, an increase of 8.88% year-on-year, accounting for 5.03% of revenue[49]. - The company employed 1,223 R&D personnel, representing 39.5% of total employees as of December 31, 2021[49]. - The company received 155 new invention patents and 262 utility model patents during the reporting period, bringing the total number of granted patents to 847[75]. - The company is actively developing new technologies such as Mini LED and metal oxide technology to enhance core competitiveness[49]. - The company is focusing on advanced technologies such as metal grid On-cell touch technology, which has received high recognition from customers[90]. - The company is committed to continuous R&D investment to meet the differentiated market demands and enhance product core competitiveness[63]. Market Expansion and Strategy - The company aims to achieve a revenue growth target of over 20% for the upcoming fiscal year, driven by new product launches and market expansion strategies[34]. - The company is focusing on expanding its market presence in the 5G and display technology sectors, including advancements in AMOLED and Mini LED technologies[24]. - The company is actively exploring market expansion opportunities in the automotive display sector, collaborating with major automotive manufacturers[91]. - The company plans to enhance its production capacity and upgrade technology to meet higher-end customer demands and increase market share[156]. - The company is considering strategic acquisitions to bolster its technology portfolio, with a budget of 200 million allocated for potential deals[185]. - Market expansion plans include entering two new international markets by Q3 2022, projected to increase market share by 10%[185]. Corporate Governance - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[10]. - The company has not violated any decision-making procedures for providing guarantees[12]. - The company has not faced any situation where more than half of the directors could not guarantee the authenticity, accuracy, and completeness of the annual report[12]. - The company has maintained a robust corporate governance structure, ensuring compliance with legal regulations and protecting shareholder rights[165]. - The company actively manages investor relations through various channels, ensuring transparent communication and addressing shareholder concerns[168]. - The company held one annual shareholders' meeting during the reporting period, with all resolutions passed and no rejected proposals[173]. Risks and Challenges - The company faces risks related to technological updates, as its current a-Si TFT-LCD technology may lose competitiveness against emerging technologies like Mini LED and AMOLED if it does not invest in R&D[101]. - The company reported accounts receivable of 940.46 million yuan, representing 13.00% of total assets, indicating potential financial risks if economic conditions worsen[108]. - The company’s inventory value stands at 1.2087 billion yuan, accounting for 16.70% of total assets, which poses a risk of inventory impairment if market demand shifts[109]. - The company is exposed to cyclical risks inherent in the display panel industry, which can lead to significant fluctuations in performance due to supply and demand dynamics[110]. - The company’s international operations may be affected by macroeconomic uncertainties, including geopolitical risks and trade disputes, which could impact overseas business collaborations[111]. Awards and Recognition - The company was recognized with several awards, including the "Innovation Breakthrough Award" at the China Electronic Information Expo[74]. - The company is the first state-controlled enterprise listed on the Sci-Tech Innovation Board in Jiangsu Province, enhancing its market presence[74].

Financial Performance - The company's revenue for Q3 2021 reached ¥1,483,476,601.32, representing a year-over-year increase of 25.36%[5] - Net profit attributable to shareholders for Q3 2021 was ¥261,521,527.07, a significant increase of 278.48% compared to the same period last year[5] - The net profit excluding non-recurring gains and losses for Q3 2021 was ¥256,940,683.14, reflecting a year-over-year growth of 294.89%[5] - Basic earnings per share for Q3 2021 were ¥0.078, up 254.55% year-over-year[7] - Net profit for the third quarter of 2021 was ¥761,675,818.15, compared to ¥115,563,624.31 in the same quarter of 2020, indicating a substantial increase of over 558%[40] - The net profit attributable to the parent company's shareholders for the current period is approximately ¥761.68 million, compared to ¥115.56 million in the same period last year, representing a significant increase[42] - The total comprehensive income attributable to the parent company's owners is approximately ¥761.70 million, compared to ¥115.47 million in the previous year, indicating strong growth[42] - Basic earnings per share for the current period is ¥0.229, up from ¥0.038 in the same period last year, reflecting improved profitability[44] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥6,297,235,248.10, an increase of 11.17% from the end of the previous year[7] - Total assets increased to ¥6,297,235,248.10 from ¥5,664,394,464.72, reflecting a growth of approximately 11.15% year-over-year[36] - Non-current assets totaled ¥3,598,118,181.20, up from ¥3,400,324,426.52, marking an increase of about 5.82%[36] - Current liabilities decreased to ¥1,764,007,557.35 from ¥1,883,820,869.12, showing a reduction of approximately 6.34%[34] - The company’s total current assets reached approximately ¥2.699 billion, an increase from ¥2.264 billion year-over-year[29] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥737,711,098.83, a decrease of 1,867.11% compared to the previous year[5] - Cash inflow from operating activities for the first three quarters of 2021 is approximately ¥4.52 billion, compared to ¥3.11 billion in the same period last year, showing a year-over-year increase of about 45.5%[46] - The net cash flow from operating activities is approximately ¥737.71 million, a substantial increase from ¥37.50 million in the previous year[46] - The net cash flow from investing activities is approximately -¥391.45 million, compared to -¥194.30 million in the same period last year, indicating increased investment outflows[46] - The net cash flow from financing activities is approximately -¥349.25 million, a decrease from a positive cash flow of ¥382.39 million in the previous year[48] - The ending cash and cash equivalents balance is approximately ¥470.03 million, slightly down from ¥462.92 million at the end of the previous year[48] Shareholder Information - Total number of common shareholders at the end of the reporting period was 29,109, with the largest shareholder holding 1,530,000,000 shares, accounting for 45.90%[14] - The company has not received any declarations regarding related party relationships among the top shareholders as of the reporting date[18] Research and Development - The company's R&D investment for Q3 2021 was ¥88,401,090.98, which accounted for 5.96% of the revenue, an increase of 0.75 percentage points[7] - Research and development expenses for the third quarter were ¥207,141,800.51, slightly up from ¥205,364,734.05 in the previous year, indicating a focus on innovation[40] - The company plans to continue investing in R&D to support ongoing projects and product testing[12] - The company launched a privacy protection display technology, achieving over 90% market share in high-end business anti-peep laptops globally[22] - The company has developed a 6.8-inch anti-peep mobile phone sample, integrating anti-peep technology with In-cell touch technology, currently promoting it overseas[22] - The company is actively developing Mini LED technology, with samples for automotive and laptop screens already produced[22] Financial Management - The company's financial expenses decreased significantly to ¥8,043,161.04 from ¥28,970,344.64, indicating improved financial management[40] - The total operating revenue for the first three quarters of 2021 reached ¥4,466,210,233.63, a significant increase from ¥2,982,565,338.28 in the same period of 2020, representing a growth of approximately 50%[38] - The company reported a total operating cost of ¥3,572,322,618.88, compared to ¥2,743,882,501.30 in the same period last year, which is an increase of about 30.24%[38] - The deferred income tax liabilities rose to ¥25,758,988.97 from ¥22,318,118.76, reflecting an increase of approximately 10.94%[34] - The total equity attributable to shareholders increased to ¥4,480,815,156.54 from ¥3,752,450,565.26, representing a growth of about 19.43%[36]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2021, representing a year-on-year increase of 15%[23]. - The company's operating revenue for the first half of the year reached ¥2,982,733,632.31, representing a year-on-year increase of 65.78%[28]. - Net profit attributable to shareholders was ¥500,154,291.08, a significant increase of 976.37% compared to the same period last year[28]. - The net profit after deducting non-recurring gains and losses was ¥494,848,607.38, reflecting a year-on-year growth of 1,238.54%[28]. - The net cash flow from operating activities was ¥393,621,959.73, showing a year-on-year increase of 284.95%[28]. - Basic earnings per share rose to ¥0.150, a 900.00% increase from the previous year[28]. - The company expects a revenue guidance of RMB 2.5 billion for the full year 2021, reflecting a growth of 12%[23]. User Growth and Market Expansion - The number of active users reached 5 million, a growth of 20% compared to the previous year[23]. - Market expansion efforts include entering Southeast Asian markets, targeting a 10% market share by the end of 2022[23]. Research and Development - The company has allocated RMB 200 million for R&D in new technologies, aiming for a 25% increase in innovation output[23]. - The total R&D investment for the period was approximately ¥118.74 million, a decrease of 17.36% compared to the previous period, with R&D investment as a percentage of revenue dropping by 4.01 percentage points to 3.98%[56]. - The company invested 119 million RMB in R&D, accounting for 3.98% of total revenue, with R&D personnel numbering 1,149, making up 36.30% of total employees[68][70]. - The average salary of R&D personnel increased to 104,071 RMB, up from 89,935 RMB in the previous period[67]. Technological Advancements - The company has developed advanced core technologies such as HVA narrow-wide viewing angle anti-peep technology and metal mesh On-cell touch technology, enhancing its competitive edge[45]. - The HVA technology has achieved a wide viewing angle of 85 degrees and a narrow viewing angle of 50 degrees, successfully capturing the high-end business anti-peep notebook market[45]. - The metal mesh On-cell touch technology allows for low resistance and high transparency, applicable to large-sized panels up to 27 inches[45]. - The company has made significant advancements in developing technologies that enhance display quality and reduce power consumption, maintaining industry-leading positions in several core technologies[53]. Strategic Partnerships - A strategic partnership with a leading tech firm was established to enhance supply chain efficiency[23]. - The company has established strong partnerships with major firms such as HP, Lenovo, Dell, and Acer, enhancing its market presence[43]. Risk Management - Risk factors include potential supply chain disruptions and fluctuations in raw material prices, which are being closely monitored[23]. - The company emphasizes supply chain resilience by diversifying suppliers and localizing procurement to mitigate risks associated with material shortages[73]. - The company is facing risks related to capacity not meeting market demand, which could lead to customer loss and decreased competitiveness[82]. - The company anticipates potential impacts from macroeconomic uncertainties, including trade tensions and geopolitical risks[90]. Environmental Responsibility - The company reported a total pollutant discharge of 348.67 tons, with COD concentration at 233.54 mg/L, and ammonia nitrogen at 11.26 mg/L, all within regulatory limits[126]. - The company has implemented ISO14001 environmental management system and has been certified, ensuring compliance with national environmental standards[127]. - The company has established an emergency response plan for environmental incidents and conducts regular drills to ensure preparedness[131]. - The company has set specific energy-saving targets and monitors water, electricity, and gas consumption in real-time to reduce carbon emissions[138]. Shareholder Commitments - The company committed to a continuous and stable profit distribution policy, emphasizing reasonable returns for investors while considering the company's long-term development[171]. - The company plans to actively implement fundraising investment projects to enhance profitability and competitiveness, focusing on existing core business areas[165]. - The company will enhance its core competitiveness by increasing R&D investment and expanding product and technology advantages[165]. - The controlling shareholder has committed to urging the company to implement the share stabilization plan if the stock price triggers the conditions for such measures[158]. Corporate Governance - The company will ensure compliance with all applicable laws and regulations regarding shareholding changes and will report any changes in shareholding status[144]. - The company will continuously improve its governance structure to provide institutional support for its development[165]. - The company will actively communicate with shareholders, especially minority shareholders, regarding dividend proposals and ensure their rights are protected[177].

Financial Performance - The company's operating revenue for 2020 was approximately ¥4.38 billion, representing a 13.87% increase compared to ¥3.85 billion in 2019[32]. - The net profit attributable to shareholders for 2020 was approximately ¥262 million, a 6.92% increase from ¥245 million in 2019[32]. - The net profit after deducting non-recurring gains and losses for 2020 was approximately ¥227 million, showing a significant increase of 114.04% compared to ¥106 million in 2019[32]. - The total assets of the company at the end of 2020 were approximately ¥5.66 billion, a 9.99% increase from ¥5.15 billion at the end of 2019[32]. - The net assets attributable to shareholders increased by 19.69% to approximately ¥3.75 billion at the end of 2020, compared to ¥3.14 billion at the end of 2019[32]. - The gross margin for the main business was 21.97%, an increase of 4.64 percentage points compared to the previous year[115]. - The company reported a decrease in cash flow from operating activities by 50.02%, totaling CNY 288,768,969.91[113]. - The company's cash and cash equivalents increased by 90.58% to ¥473,609,807.68 at the end of 2020 from ¥248,512,612.14 at the end of 2019[139]. Dividend Policy - The company plans to distribute a cash dividend of RMB 0.10 per share, totaling RMB 33,333,334.00, which represents 12.72% of the net profit attributable to shareholders[7]. - The company maintains a profit distribution policy that requires a minimum cash dividend of 10% of the distributable profit for the year, with higher percentages based on the company's development stage and capital expenditure plans[174]. - In 2020, the company did not issue any stock dividends or increase capital from reserves, focusing solely on cash dividends[175]. - The board of directors can propose mid-term cash dividends based on the company's profitability and funding needs, subject to shareholder approval[170]. - The company’s cash dividend policy aims to balance shareholder returns with future development needs, ensuring long-term interests of shareholders[174]. Research and Development - The company is focusing on the development of new technologies such as Mini LED and Micro LED displays to enhance product offerings[23]. - The R&D investment as a percentage of operating revenue was 6.05%, a decrease of 0.73 percentage points compared to the previous year[35]. - The company achieved a total of 51 new product developments during the reporting period, maintaining its industry-leading position in core technologies[67]. - R&D investment totaled approximately ¥264.95 million, representing a 1.47% increase from the previous year, with R&D expenses accounting for 6.05% of total revenue[70]. - The company has developed advanced technologies such as HVA wide and narrow viewing angle anti-peep, metal mesh On-cell touch, and Mini LED, enhancing its core competitiveness[83]. Market Position and Strategy - The company maintains a strong market position in the TFT-LCD panel manufacturing sector, serving major clients such as HP, Lenovo, and Dell[46]. - The company plans to expand its market presence through strategic partnerships and potential acquisitions in the display technology sector[23]. - The company is actively developing applications for automotive and industrial control sectors using advanced technologies[66]. - The company plans to leverage the growing demand in the TFT-LCD market, driven by advancements in 5G and IoT, to enhance its competitive capabilities[151]. - The company is focusing on the development of new display technologies such as Mini/Micro LED, which are expected to meet diverse display needs in the future[60]. Risk Management - The report includes a risk statement regarding forward-looking statements, cautioning investors about potential investment risks[8]. - The company has outlined potential risks in the "Discussion and Analysis of Operating Conditions" section of the report[5]. - The company faces risks related to capacity shortages that may lead to customer loss if production cannot meet demand[101]. - The company is exposed to macroeconomic risks, including uncertainties from the COVID-19 pandemic and geopolitical tensions affecting international business[107]. Corporate Governance - The company has received a standard unqualified audit report from Da Xin Accounting Firm[6]. - The board of directors has confirmed that all members attended the board meeting, ensuring the accuracy and completeness of the annual report[10]. - The report confirms that there are no special arrangements for corporate governance[11]. - The company has not violated any decision-making procedures in providing guarantees[11]. Shareholder Commitments - The controlling shareholder, Guochuang Group, committed to not transferring or entrusting the management of shares held before the IPO for 36 months, with an additional 2-year lock-up period after that[182]. - The company will implement stock buyback measures if the stock price falls below the latest audited net asset value for 20 consecutive trading days within 36 months post-IPO[187]. - The company will ensure compliance with relevant laws and regulations when reducing shareholdings, including advance notice of three trading days[184]. - The company plans to repurchase shares at a price not exceeding the latest audited net asset value per share, using at least 10% of the previous year's net profit for the buyback[190].

Financial Performance - Operating revenue for the period was ¥1,497,234,930.37, representing a significant increase of 78.88% year-on-year[16]. - Net profit attributable to shareholders was ¥230,281,965.56, a remarkable increase of 916.59% compared to the same period last year[16]. - The weighted average return on net assets increased to 5.95%, up by 5.23 percentage points from 0.72% in the previous year[16]. - Basic and diluted earnings per share were both ¥0.069, a substantial increase of 762.50% compared to ¥0.008 in the same period last year[16]. - The company reported a net profit of RMB 539,436,932.84 as of March 31, 2021, compared to RMB 309,154,967.28 at the end of 2020, reflecting an increase of about 74.4%[42]. - The net profit for Q1 2021 reached CNY 210,309,402.70, compared to CNY 28,132,367.91 in Q1 2020, indicating a substantial increase of about 648.5%[60]. - The total profit for Q1 2021 was CNY 243,400,591.29, compared to CNY 33,096,903.43 in Q1 2020, marking an increase of approximately 634.5%[58]. Cash Flow - The net cash flow from operating activities was ¥171,002,718.90, a turnaround from a negative cash flow of ¥62,482,491.62 in the previous year, marking an increase of 373.68%[16]. - The net cash flow from operating activities for Q1 2021 was ¥171,002,718.90, a 373.68% increase from a negative cash flow of ¥62,482,491.62 in Q1 2020[31]. - Cash inflow from financing activities was CNY 332,317,556.21, down from CNY 708,019,119.35 in the previous period[66]. - The ending cash and cash equivalents balance was CNY 326,878,971.14, down from CNY 144,756,352.12 in the previous period[68]. - Operating cash inflow totaled CNY 1,326,921,456.54, compared to CNY 966,481,019.99 in the previous period, reflecting a significant increase[66]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥5,869,404,844.50, an increase of 3.62% compared to the end of the previous year[16]. - Total current assets amounted to RMB 2,441,916,224.79, an increase from RMB 2,264,070,038.20 as of December 31, 2020, representing a growth of approximately 7.83%[37]. - The company's total liabilities amounted to RMB 1,886,698,665.70, down from RMB 1,911,943,899.46, indicating a decrease of about 1.32%[42]. - Total liabilities decreased slightly from ¥1,626,149,656.17 in Q1 2020 to ¥1,602,483,704.23 in Q1 2021, a reduction of approximately 1.5%[48]. - The company's equity increased to ¥4,084,336,165.42 in Q1 2021 from ¥3,874,053,114.74 in Q1 2020, reflecting an increase of about 5.4%[48]. Research and Development - Research and development expenses accounted for 3.22% of operating revenue, a decrease of 5.12 percentage points from 8.34% in the previous year[16]. - Research and development expenses decreased by 30.98% to ¥48,183,474.41 from ¥69,809,340.26, reflecting changes in R&D investment[31]. - The company reported a decrease in research and development expenses to CNY 43,915,326.26 in Q1 2021 from CNY 67,658,921.46 in Q1 2020, a reduction of about 35.1%[58]. Shareholder Information - The total number of shareholders at the end of the reporting period was 33,114, with the largest shareholder holding 45.90% of the shares[22]. - The equity attributable to shareholders increased to RMB 3,982,706,178.80 from RMB 3,752,450,565.26, representing a growth of approximately 6.13%[42]. Government Subsidies and Other Income - The company received government subsidies amounting to ¥1,514,911.58, which are closely related to its normal business operations[19]. - Other income decreased by 53.50% to ¥1,514,911.58, primarily due to a reduction in government subsidies recognized[31]. - The company reported other income of CNY 1,514,911.58 in Q1 2021, down from CNY 3,182,137.75 in Q1 2020, indicating a decrease of about 52.4%[58].