Financial Performance - The company's operating revenue for Q3 2022 was ¥281,063,911.75, representing a year-on-year increase of 61.81%[7] - The net profit attributable to shareholders for Q3 2022 was ¥23,875,790.10, showing a significant increase of 1,219.07% compared to the same period last year[7] - Total operating revenue for Q3 2022 reached ¥797,316,340.23, a significant increase of 60.9% compared to ¥495,389,836.94 in the same period of 2021[40] - Net profit for Q3 2022 was ¥61,609,646.30, a turnaround from a net loss of ¥2,151,890.50 in Q3 2021[42] - The total comprehensive income for Q3 2022 was ¥61,636,901.86, a significant improvement from a loss of ¥2,153,647.07 in the same quarter of the previous year[45] Research and Development - The total R&D investment for Q3 2022 was ¥87,608,268.75, an increase of 45.59% year-on-year, accounting for 31.17% of operating revenue[11] - Research and development expenses increased to ¥235,641,997.39 in the first three quarters of 2022, compared to ¥164,258,075.32 in the same period of 2021, marking a growth of 43.4%[40] Cash Flow and Investments - The net cash flow from operating activities for the year-to-date was -¥192,582,896.24, indicating increased cash outflow due to inventory buildup[11] - Cash inflow from operating activities for the first three quarters of 2022 was CNY 819,930,847.59, a significant increase from CNY 451,994,411.51 in the same period of 2021, representing an increase of approximately 81.3%[49] - The net cash flow from investment activities for the first three quarters of 2022 was negative CNY 722,519,441.62, contrasting with a positive cash flow of CNY 51,074,022.04 in the same period of 2021[51] - The company received CNY 959,000,000.00 from investment recoveries in the first three quarters of 2022, a significant increase from CNY 310,000,000.00 in 2021[49] - The company paid CNY 1,634,000,000.00 for investments in the first three quarters of 2022, compared to CNY 220,000,000.00 in 2021, indicating a substantial increase of approximately 641.8%[51] Assets and Liabilities - The total assets at the end of Q3 2022 were ¥1,828,222,758.38, reflecting a 5.70% increase from the end of the previous year[11] - The company's total liabilities amounted to ¥233,370,115.25, an increase from ¥220,704,475.65 year-over-year[40] - The total current liabilities increased to ¥215,484,446.13 from ¥198,647,904.04, marking an increase of approximately 8.7%[34] - The company's non-current assets totaled ¥100,223,502.38, up from ¥82,892,915.10, representing a growth of about 20.9%[34] Shareholder Information - The company has expanded its shareholder base to 7,784 ordinary shareholders by the end of the reporting period[17] - Major shareholders include Huada Semiconductor Co., Ltd. with a 29.17% stake and Shanghai Anxin Enterprise Management Partnership with a 20.81% stake[17] Earnings Per Share - The company reported a basic earnings per share of ¥0.06 for Q3 2022, a 500% increase compared to the same period last year[11] - Basic earnings per share for Q3 2022 were ¥0.15, compared to a loss of ¥0.01 per share in Q3 2021[45] Other Notable Points - The company has not disclosed any new product developments or technological advancements during the reporting period[27] - There are no significant mergers or acquisitions reported in the latest earnings call[27] - The company has not provided specific future guidance or market expansion strategies in the current report[27]

Financial Performance - The company reported a significant increase in revenue, achieving a total of 500 million RMB for the first half of 2022, representing a 25% year-over-year growth[19]. - The company achieved operating revenue of RMB 516,252,428.48, representing a year-on-year increase of 60.48% compared to RMB 321,694,375.70 in the same period last year[26]. - The net profit attributable to shareholders was RMB 37,733,856.20, a significant recovery from a loss of RMB 3,961,943.59 in the previous year[26]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 20,925,366.05, compared to a loss of RMB 12,545,872.88 in the same period last year[26]. - The company reported a net profit of ¥35,716,461.20, a 51.37% improvement compared to the previous year[102]. - The gross profit margin for the first half of 2022 was reported at 45%, an improvement from 40% in the same period last year[19]. Research and Development - The company has allocated 100 million RMB for research and development in 2022, representing a 50% increase from the previous year[19]. - The company achieved a total R&D investment of ¥148,033,728.64, representing a year-on-year increase of 42.22%[58]. - The company invested 28.67% of its operating revenue in R&D, a decrease of 3.69 percentage points compared to the previous year[28]. - The company has made significant advancements in FPGA hardware design, EDA software, testing technology, and application solutions, resulting in 16 new invention patents filed during the reporting period[51]. - The company applied for 25 new intellectual property rights during the reporting period, including 16 invention patents, and obtained 18 new rights, including 9 invention patents[56]. - The company is focusing on developing application IP and reference solutions for automotive electronics, targeting the growing demand for FPGA in automotive systems[63]. Market Expansion and Product Development - The company has set a future outlook with a revenue target of 1.2 billion RMB for the full year 2022, which would require a 20% growth in the second half[19]. - New product development includes the launch of a next-generation FPGA chip, expected to enhance processing speed by 40% compared to the previous model[19]. - The company is planning market expansion into Southeast Asia, targeting a 15% market share within the next two years[19]. - The FPGA chip market in China is forecasted to reach RMB 33.22 billion by 2025, with a compound annual growth rate of 17.1% from 2021 to 2025[36]. - The company launched a new PHOENIX series product and is developing several new products expected to enter the market in the second half of 2022[75]. Risks and Challenges - The company has identified potential risks including supply chain disruptions, which could impact production timelines[5]. - The company faces risks related to external environmental changes, including macroeconomic factors and industry competition, which could adversely affect revenue and operational performance[80]. - The company has identified potential risks related to supply chain disruptions and rising costs of raw materials, which could impact production capacity and profit margins[88]. - The company is at risk of losing high-quality R&D personnel if its incentive mechanisms do not remain competitive within the industry[83]. Shareholder and Governance Matters - The board has approved a profit distribution plan, although no dividends will be issued for this period[7]. - The company has committed to a 36-month lock-up period for major shareholders following its IPO[128]. - The company will prioritize cash dividends over stock dividends when distributing profits, provided that conditions for cash distribution are met[146]. - The company’s profit distribution policy allows for mid-term profit distributions under certain conditions[146]. - The company has committed to ensuring the accuracy and completeness of its prospectus, with legal responsibilities in case of false statements or omissions[158]. Operational Metrics - The company's cash flow from operating activities showed a net outflow of RMB 174,005,159.74, worsening from RMB -87,865,341.94 in the previous year[26]. - The company's total assets increased by 4.42% to RMB 1,806,043,185.30 from RMB 1,729,573,661.45 at the end of the previous year[26]. - The company's net assets attributable to shareholders rose by 3.21% to RMB 1,557,352,613.22 from RMB 1,508,869,185.80 at the end of the previous year[26]. - Cash and cash equivalents decreased by 79.39% to ¥239,880,365.52, accounting for 13.28% of total assets[98]. - Inventory increased by 57.63% to ¥421,720,922.52, representing 23.35% of total assets, due to significant stockpiling to meet rising sales demand[98]. Corporate Social Responsibility - The company has implemented measures to reduce carbon emissions by optimizing resource consumption and promoting low-carbon practices among employees[125]. - The company has not reported any administrative penalties related to environmental issues during the reporting period[124].

Financial Performance - In 2021, the company achieved a sales revenue of 679 million CNY, while the net profit attributable to the parent company was -30.8491 million CNY, and the net profit excluding non-recurring gains and losses was -62.8639 million CNY[6]. - The company's cumulative undistributed profits (accumulated losses) reached -62.9652 million CNY by the end of 2021, indicating that profit distribution may not be possible in the near future[6]. - Despite being in a loss position, the company experienced significant revenue growth, benefiting from a robust demand in the domestic FPGA chip downstream market[6]. - The company's operating revenue for 2021 was CNY 678.52 million, representing a year-on-year increase of 141.44%[31]. - The net profit attributable to shareholders was a loss of CNY 30.85 million, a decrease of CNY 24.66 million compared to the previous year[31]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 62.86 million, an increase of CNY 15.25 million year-on-year[31]. - The company's total assets at the end of 2021 were CNY 1.73 billion, an increase of 290.58% compared to the end of 2020[31]. - The net assets attributable to shareholders at the end of 2021 were CNY 1.51 billion, an increase of 366.29% year-on-year[31]. - The company's cash flow from operating activities was a net outflow of CNY 162.47 million, a decrease of 377.78% compared to the previous year[31]. - The company reported a net loss of 62.86 million RMB for the reporting period, with cumulative losses reaching 73.45 million RMB by the end of 2021[97]. Research and Development - The R&D expenditure as a percentage of operating revenue was 35.90%, a decrease of 8.77 percentage points compared to the previous year[34]. - The company maintained high R&D investment, which impacted profitability, as the main business profit was insufficient to cover management and R&D expenses[34]. - The total R&D investment reached approximately ¥243.62 million, a significant increase of 94.06% compared to the previous year, accounting for 35.90% of operating revenue[82][83]. - The company has developed advanced FPGA hardware design capabilities, achieving breakthroughs in logic units, signal interconnections, and clock networks, enhancing market competitiveness[72]. - The company’s proprietary FPGA EDA software, TangDynasty, is one of the few fully self-developed systems in China, addressing key technical challenges in the FPGA design process[73]. - The company has significantly increased R&D investment, resulting in rapid growth in sales revenue and customer numbers, achieving record sales volume during the reporting period[66]. - The company is focusing on expanding its R&D team and increasing expenditures on employee salaries and engineering costs to support ongoing projects in high-performance FPGA chips[83]. - The company applied for 60 new intellectual properties during the reporting period, including 35 invention patents and 10 software copyrights, with a total of 156 authorized intellectual properties as of December 31, 2021[80]. Market Position and Strategy - The company has become a leading FPGA chip design enterprise in China, focusing on independent innovation and developing a complete software toolchain and testing processes that meet international standards[66]. - The company aims to expand its market presence in emerging sectors such as data centers, artificial intelligence, and autonomous driving, while enhancing support for overseas clients[165]. - The FPGA chip market in China is projected to reach sales of 33.22 billion yuan by 2025, with a compound annual growth rate (CAGR) of 17.1% from 2021 to 2025[61]. - The company plans to focus on self-innovation and the development of competitive FPGA products to meet the growing domestic and international demand[165]. - The company is actively pursuing the development of high-integration programmable system-on-chip (SoC) solutions, integrating CPUs and other modules into single chips for various applications[69]. - The company has established a dual backup system for suppliers to ensure stable supply amid supply chain challenges[48]. - The company has built a professional sales team across major cities, improving customer engagement and support for future product launches[96]. Challenges and Risks - The company faces risks related to technology iteration and potential product development failures, which could impact its market position[99]. - The company faces risks from the replacement of its FPGA chips by other technologies, particularly ASICs, which may offer lower unit costs in fixed circuit applications[102]. - The company is experiencing pressure in R&D due to the complexity of its FPGA chips and EDA software, leading to significant R&D expenditures and challenges in funding and personnel allocation[104]. - The company operates under a Fabless model, relying on third-party manufacturers, which exposes it to risks related to rising wafer prices and processing costs due to capacity shortages[112]. - The ongoing impact of the COVID-19 pandemic may disrupt supply chains and affect demand in key markets, posing risks to the company's revenue growth[116]. Future Outlook - Future outlook indicates a projected revenue growth of 20% for the next fiscal year, driven by new product launches and market expansion strategies[197]. - The company aims to develop next-generation FPGA products to meet market demands, focusing on advanced process and high integration[101]. - The company is investing heavily in R&D, with a budget allocation of $150 million for the development of new technologies in the upcoming year[197]. - New product lines are expected to contribute an additional $200 million in revenue over the next fiscal year[197]. - The company plans to enhance its marketing and service network to improve customer satisfaction and expand its application fields[167]. Governance and Management - The company has established a governance structure that complies with relevant laws and regulations, ensuring effective decision-making and supervision[174]. - The company plans to further improve its internal control and governance mechanisms to support sustainable growth[171]. - There were no significant changes in the management team during the reporting period, with all members maintaining their positions[189]. - The total pre-tax remuneration for the board members during the reporting period amounted to CNY 1,247.19 million[192].

Financial Performance - The company's revenue for Q1 2022 was ¥258,218,208.38, representing a year-on-year increase of 72.15%[6] - Net profit attributable to shareholders was ¥17,693,919.99, showing a significant increase of 206.34% compared to the same period last year[6] - The net profit after deducting non-recurring gains and losses reached ¥15,461,332.36, with an impressive growth of 870.90% year-on-year[6] - Basic earnings per share were ¥0.0442, reflecting a year-on-year increase of 167.88%[6] - Total operating revenue for Q1 2022 was CNY 258,218,208.38, an increase from CNY 149,994,714.02 in Q1 2021, representing a growth of approximately 72.4%[32] - The company reported a net loss of CNY 55,756,397.41 for Q1 2022, an improvement from a net loss of CNY 73,450,317.40 in Q1 2021[32] - The total profit for Q1 2022 was approximately $17.69 million, compared to $5.78 million in Q1 2021, representing an increase of 205.4%[36] - The company’s total comprehensive income for Q1 2022 was approximately $17.69 million, compared to $5.78 million in Q1 2021, reflecting an increase of 205.4%[37] Research and Development - Total R&D investment amounted to ¥71,134,918.61, which is 27.55% of the revenue, a decrease of 1.08 percentage points from the previous year[8] - Research and development expenses increased to $71.13 million in Q1 2022 from $42.95 million in Q1 2021, reflecting a growth of 65.5%[36] Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥120,838,821.97, primarily due to increased cash payments for inventory to meet rising sales demand[16] - Cash and cash equivalents as of March 31, 2022, were CNY 1,049,050,647.58, down from CNY 1,163,816,520.00 as of December 31, 2021, a decrease of about 9.8%[26] - Cash flow from operating activities showed a net outflow of approximately $120.84 million in Q1 2022, compared to a net outflow of $78.63 million in Q1 2021[42] - The net cash flow from investing activities was $9,352,124.80, compared to a negative cash flow of $1,737,372.68 in the previous period[44] - The net cash flow from financing activities was negative at -$2,342,694.55, compared to -$4,261,663.71 in the previous period[44] - The net increase in cash and cash equivalents was -$113,830,467.63, compared to -$84,664,681.88 in the previous period[44] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥1,745,253,515.08, a slight increase of 0.91% from the end of the previous year[8] - Total assets as of March 31, 2022, amounted to CNY 1,745,253,515.08, compared to CNY 1,729,573,661.45 at the end of 2021, reflecting a slight increase of approximately 0.9%[30] - Total liabilities decreased to CNY 214,613,192.79 as of March 31, 2022, from CNY 220,704,475.65 at the end of 2021, a reduction of about 2.8%[32] - Non-current assets totaled CNY 90,485,505.39 as of March 31, 2022, compared to CNY 82,892,915.10 at the end of 2021, indicating an increase of approximately 9.6%[30] - The company’s total current assets were CNY 1,654,768,009.69 as of March 31, 2022, slightly up from CNY 1,646,680,746.35 at the end of 2021, an increase of about 0.5%[26] Shareholder Information - The top shareholder, Huada Semiconductor Co., Ltd., holds 29.17% of the shares, with a total of 116,691,243 shares[17] Financial Expenses - The company incurred financial expenses of approximately -$4.94 million in Q1 2022, compared to -$39,789.31 in Q1 2021, indicating a significant reduction in financial costs[36]