单位：元 币种：人民币 聚辰股份 2021 年第三季度报告 证券代码：688123 证券简称：聚辰股份 聚辰半导体股份有限公司 2021 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： ● 聚辰半导体股份有限公司（以下简称"公司"）董事会、监事会及全体董事、 监事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚假记载、误导 性陈述或重大遗漏，并承担个别和连带的法律责任。 ● 公司负责人陈作涛先生、主管会计工作负责人及会计机构负责人（会计主管人 员）杨翌女士保证季度报告中财务报表信息的真实、准确、完整。 ● 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 主要会计数据和财务指标 | --- | --- | --- | --- | --- | |------------------------------------------------|----------------|----------------------------------------|---------- ...

Financial Results - Giantec Semiconductor Corporation reported its 2021 semi-annual financial results on August 16, 2021[2]. - The semi-annual report is unaudited, ensuring transparency in financial disclosures[7]. - No profit distribution or capital reserve transfer plans were proposed during this reporting period[8]. - The company's revenue for the first half of 2021 reached ¥264,480,149.39, representing a 21.24% increase compared to ¥218,142,429.25 in the same period last year[24]. - Net profit attributable to shareholders was ¥65,752,158.51, up 41.23% from ¥46,558,182.96 year-on-year[24]. - The net cash flow from operating activities increased by 63.75%, amounting to ¥47,963,944.71 compared to ¥29,290,387.31 in the previous year[24]. - The net assets attributable to shareholders at the end of the reporting period were ¥1,478,047,674.11, a slight increase of 1.16% from ¥1,461,079,275.65 at the end of the previous year[24]. - Total assets increased by 2.64% to ¥1,597,598,809.38 from ¥1,556,469,946.19 at the end of the previous year[24]. - The net profit excluding non-recurring gains and losses was ¥30,735,809.81, which is a decrease of 23.09% from ¥39,963,462.36 in the same period last year[24]. - The comprehensive gross margin for the first half of 2021 was 31.64%, a decrease of 4.9 percentage points compared to the same period last year[27]. - The basic earnings per share were 0.54 yuan, up 39.52% from 0.39 yuan in the same period last year[25]. Governance and Compliance - The company emphasizes the accuracy and completeness of the financial report, with all board members present at the meeting[4][6]. - There are no significant risks or non-operational fund occupation by controlling shareholders reported[5][9]. - There are no special governance arrangements or significant matters affecting the company[8]. - The company has not faced any issues with board members being unable to guarantee the report's authenticity[9]. - All financial statements are signed by the legal representative and accounting personnel, ensuring accountability[7]. - The company has established a complete independent intellectual property system with 133 total patents and design registrations[62]. - The company has committed to ensuring that all related party transactions comply with legal regulations and the company's articles of association[24]. Research and Development - Research and development expenses accounted for 12.17% of operating revenue, an increase of 1.92 percentage points year-on-year[25]. - The company has developed 25 core technologies related to non-volatile memory chips, voice coil motor driver chips, and smart card chips, maintaining a competitive edge in these areas[58]. - The company is focusing on enhancing product compatibility and reducing chip size in its new product developments, which include various memory and driver chips aimed at consumer electronics and automotive applications[68][69][70]. - The R&D team consists of professionals with over 8 years of experience, with core technical personnel holding advanced degrees from top universities and backgrounds in renowned semiconductor companies[83]. - The company has increased R&D investment significantly due to the growth in personnel costs and project expenditures, reflecting a commitment to product enhancement and new technology development[66]. Market Position and Growth - The company ranks third globally in the EEPROM market, holding the top position among domestic EEPROM suppliers[52]. - The company has established long-term stable partnerships with leading smartphone camera module manufacturers, becoming a leading brand in smartphone camera EEPROM chips since 2012[76]. - The company has expanded its market presence in the NOR Flash domain, enhancing its position in the non-volatile memory chip market[75]. - The company plans to expand into the NOR Flash market, targeting applications in smartphones, IoT, and automotive electronics[90]. - The company is collaborating with leading smartphone manufacturers to develop closed-loop and optical image stabilization voice coil motor driver chips[56]. Financial Management - The company has approved a stock incentive plan to grant 900,000 restricted stocks, with an initial grant of 720,000 shares at a price of ¥22.64 per share[141]. - The company has committed to ensuring that the registration application documents and other information disclosure materials for the public offering do not contain false records, misleading statements, or significant omissions, and will bear legal responsibility for their accuracy and completeness[161]. - The company has confirmed that all commitments have been fulfilled in a timely manner, with no noted failures[155]. - The company committed to repurchase its shares in the secondary market within three months if stock price stabilization measures are needed, with a limit of 3% of total shares and a maximum expenditure of 20% of the previous year's net profit attributable to shareholders[159]. Risks and Challenges - The company faces risks from intensified market competition, which may lead to price declines and reduced profit margins[100]. - The company is at risk of technological obsolescence if it fails to keep pace with industry upgrades and product innovations[102]. - The company is exposed to supply chain risks, including potential price increases for raw materials and outsourcing processing fees[104]. - The company has not faced any significant legal violations, lawsuits, or administrative penalties that could harm investor rights or public interests since January 1, 2016[25]. Subsidiaries and Investments - Hong Kong Import and Export subsidiary reported total assets of approximately ¥61.07 million and net profit of ¥4.11 million[135]. - Ju Chen America subsidiary had total assets of approximately ¥1.11 million with a net loss of ¥7.21 million[135]. - Ju Dong Semiconductor subsidiary reported total assets of approximately ¥10.15 million and a net loss of ¥3.18 million[135]. - The total revenue for the Hong Kong Import and Export subsidiary was approximately ¥98.67 million[135]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period was 9,927[187]. - The largest shareholder, Jiangxi Heguang Investment Management Co., Ltd., held 25,703,785 shares, accounting for 21.27% of the total shares[187]. - The second-largest shareholder, Jucheng Semiconductor (Hong Kong) Co., Ltd., held 11,268,552 shares, representing 9.33% of the total shares[187].

Financial Performance - The company's operating revenue for 2020 was CNY 493.85 million, a decrease of 3.80% compared to CNY 513.37 million in 2019 [24]. - The net profit attributable to shareholders for 2020 was CNY 162.95 million, representing a significant increase of 71.33% from CNY 95.11 million in 2019 [24]. - The net profit after deducting non-recurring gains and losses was CNY 60.14 million, down 38.57% from CNY 97.91 million in 2019 [24]. - The cash flow from operating activities for 2020 was CNY 92.63 million, an increase of 25.56% compared to CNY 73.77 million in 2019 [24]. - The company's total assets at the end of 2020 were CNY 1.56 billion, a 9.93% increase from CNY 1.42 billion at the end of 2019 [24]. - The weighted average return on equity for 2020 was 11.71%, a decrease of 14.02 percentage points from 25.73% in 2019 [26]. - The company's net assets attributable to shareholders increased by 10.00% to CNY 1.46 billion at the end of 2020, compared to CNY 1.33 billion at the end of 2019 [24]. - The company's EEPROM product sales revenue for the year reached 408.72 million yuan, a year-on-year decline of 9.68% [94]. - The sales revenue from EEPROM products was CNY 408,722,529.03, with a gross margin of 36.42%, down by 6.16 percentage points [128]. - The sales revenue from overseas markets was CNY 188,146,705.06, representing a decrease of 18.03% year-on-year [129]. Dividend Policy - The company plans to distribute a cash dividend of RMB 4.10 per 10 shares, totaling approximately RMB 49.55 million, which represents 30.41% of the net profit attributable to shareholders for 2020 [8]. - The company has established a cash dividend policy, ensuring that at least 20% of the distributable profits are allocated as cash dividends each year [176]. - In mature stages without major investment plans, the company aims for cash dividends to constitute at least 80% of the profit distribution [176]. - The cash dividend policy aligns with the company's profitability, financial condition, and long-term development goals, as confirmed by the independent directors and supervisory board [181]. - The company has committed to maintaining reasonable returns for investors while ensuring sustainable development in its cash dividend proposals [182]. Risk Factors - The company has disclosed potential risks in its annual report, urging investors to review the "Discussion and Analysis of Operating Conditions" section for detailed risk factors [6]. - The company faces risks from intensified market competition, which may lead to price declines and reduced profit margins [110]. - The rapid pace of technology upgrades in the integrated circuit design industry poses risks if the company fails to keep up with market demands [111]. - The company is exposed to risks related to raw material supply and outsourcing, which could impact production and profitability [115]. - The ongoing COVID-19 pandemic has negatively impacted market demand, posing risks to the company's operational performance [120]. Research and Development - Research and development expenses accounted for 10.52% of operating revenue in 2020, down 0.72 percentage points from 11.24% in 2019 [26]. - The company plans to increase R&D spending significantly in 2021 as product development progresses and the R&D team expands [30]. - The R&D personnel count increased to 70, representing 43.75% of the total workforce, up from 42.67% in the previous year [82]. - The company has developed 25 core technologies related to its main business, including EEPROM chips, voice coil motor driver chips, and smart card chips, with 21 technologies reaching a mature and stable stage [66]. - The company has achieved a significant increase in reliability for its EEPROM chips, with a data retention time of 100 years at room temperature and a write/erase cycle endurance of 400,000 times at 125°C [67]. Market Position - The company is the third largest global supplier of EEPROM products, holding the first position among domestic EEPROM companies, and has established a leading position in the smartphone camera EEPROM segment since 2016 [40]. - The global smartphone shipment volume, excluding Apple, declined by 8%-12% year-on-year, impacting the company's revenue [26]. - The company has established long-term stable partnerships with leading smartphone camera module manufacturers, including Samsung, Huawei, and Xiaomi, positioning itself as a leading brand in the smartphone camera EEPROM chip market [86]. - The company has established competitive advantages in the open-loop voice coil motor driver chip market, collaborating with leading smartphone manufacturers for closed-loop and optical image stabilization products [61]. Compliance and Governance - The board of directors and management have confirmed the accuracy and completeness of the annual report, ensuring no significant omissions or misleading statements [7]. - The company guarantees that its registration documents do not contain false records or misleading statements, and will repurchase shares if any such issues are identified [189]. - The company has established a commitment to transparency and accuracy in its financial disclosures, holding individuals accountable for any discrepancies [189]. - The company has committed to compensating investors for any losses incurred due to non-compliance with its public commitments [27]. - The company has confirmed that there are no instances of fund occupation by its controlling shareholders or related parties, ensuring the protection of shareholder interests [29].

Financial Performance - The company achieved operating revenue of CNY 133.23 million in Q1 2021, representing a 33.24% increase compared to the same period last year[15]. - The net profit attributable to shareholders was CNY 16.50 million, a decrease of 19.41% year-on-year[13]. - The gross profit margin for the company's products was 30.74%, down 7.39 percentage points from Q1 2020[17]. - The sales revenue from EEPROM products was CNY 105.61 million, up 20.58% year-on-year, while smart card chip sales increased by 175.65% to CNY 16.31 million[15]. - Total operating revenue for Q1 2021 was RMB 133.23 million, an increase of 33.3% compared to RMB 100.00 million in Q1 2020[45]. - Net profit for Q1 2021 was RMB 16.23 million, a decrease of 20.4% from RMB 20.47 million in Q1 2020[49]. - Total profit for Q1 2021 was RMB 17.80 million, a decrease of 22.5% from RMB 22.91 million in Q1 2020[49]. Cash Flow and Liquidity - The net cash flow from operating activities was negative CNY 5.84 million, a decline of 118.66% compared to the previous year[13]. - The company's cash and cash equivalents increased to ¥407,209,517.22 from ¥346,246,350.09, showing a growth of approximately 17.5%[31]. - Operating cash flow for Q1 2021 was negative at CNY -5,835,928.84, compared to a positive CNY 31,275,124.77 in Q1 2020[60]. - Total cash inflow from operating activities was CNY 128,670,495.01, down from CNY 138,623,361.90 in the previous year[60]. - Cash outflow for purchasing goods and services was CNY 100,657,255.72, an increase from CNY 78,282,214.67 in Q1 2020[60]. - The company received CNY 1,274,081.23 in tax refunds during Q1 2021, down from CNY 8,604,561.33 in Q1 2020[60]. Assets and Liabilities - The company had a total asset value of CNY 1.56 billion at the end of the reporting period, a slight increase of 0.43% from the end of the previous year[13]. - The total current assets slightly decreased to ¥1,543,654,261.53 from ¥1,545,685,372.62, indicating a marginal decline[31]. - The company's total liabilities increased significantly, with other current liabilities rising by 592.49% to ¥215,700.54[26]. - Total assets increased to ¥1,580,557,072.36 as of March 31, 2021, compared to ¥1,576,688,053.88 at the end of 2020, reflecting a growth of approximately 0.55%[40]. - The total liabilities decreased to ¥84,424,771.26 from ¥94,037,253.76, a decrease of approximately 10.23%[42]. - The total equity attributable to shareholders rose to ¥1,496,132,301.10 from ¥1,482,650,800.12, an increase of about 0.91%[42]. Research and Development - Research and development expenses accounted for 10.82% of operating revenue, a decrease of 0.48 percentage points compared to the previous year[13]. - Research and development expenses in Q1 2021 amounted to RMB 14.42 million, representing a 27.5% increase from RMB 11.30 million in Q1 2020[45]. Investment and Fair Value - The company reported a fair value loss of approximately CNY 7.11 million due to fluctuations in the stock price of SMIC, impacting overall performance[16]. - Investment income reached ¥7,808,005.95, attributed to investments in capital-preserving products using idle funds[26]. - The company reported a fair value loss of RMB 9.18 million in Q1 2021, with no comparable figure in Q1 2020[49]. Shareholder Information - The total number of shareholders was 10,139 as of the end of the reporting period[18]. - The company's retained earnings increased to ¥236,599,335.06 from ¥223,117,834.08, reflecting a growth of about 6.00%[42].

Financial Performance - Net profit attributable to shareholders increased by 56.69% year-on-year to CNY 119,475,679.92 for the first three quarters[14] - Operating income for Q3 was CNY 146,754,500, representing a 3.22% year-on-year growth and a 24.22% quarter-on-quarter growth[12] - The net profit excluding non-recurring gains and losses decreased by 27.73% year-on-year to CNY 57,206,981.91 for the first three quarters[11] - The company reported a net profit of ¥173,931,353.64, significantly up from ¥85,874,559.14, representing a growth of about 102.5%[32] - Net profit for Q3 2020 reached ¥72.92 million, a significant increase of 130.00% compared to ¥31.73 million in Q3 2019[42] - The total profit for the first three quarters of 2020 was CNY 129.04 million, compared to CNY 78.89 million in the same period of 2019, marking a 63.5% increase[49] Cash Flow and Liquidity - The net cash flow from operating activities increased by 156.18% year-on-year to CNY 64,846,929.56 for the first three quarters[11] - Cash and cash equivalents amounted to CNY 32,131,590, enhancing the company's financial strength and risk resistance[14] - Cash inflow from operating activities for the first three quarters of 2020 was CNY 417.68 million, up from CNY 363.55 million in the same period of 2019, an increase of 14.9%[53] - The net cash flow from operating activities for the first three quarters of 2020 was ¥77,336,905.50, slightly down from ¥77,747,026.18 in the same period of 2019, indicating a decrease of approximately 0.53%[58] - Cash and cash equivalents at the end of the period totaled ¥321,315,891.31, a decrease from ¥1,226,138,679.82 at the beginning of the year, resulting in a net decrease of approximately 73.8%[58] Assets and Liabilities - Total assets increased by 6.03% year-on-year to CNY 1,501,212,099.58 as of the end of the reporting period[10] - Total liabilities decreased significantly, with employee compensation liabilities dropping by 63.09% to ¥5,660,893.23[22] - Current liabilities decreased to ¥70,555,788.02 from ¥78,159,032.56, reflecting a reduction of approximately 9.5%[30] - Total liabilities amounted to ¥83,963,220.53, down from ¥87,590,467.24, showing a decrease of around 4.7%[30] - The company’s total current assets rose to ¥1,491,725,640.93 from ¥1,405,645,462.92, indicating a healthy liquidity position[26] Research and Development - The company's R&D expenditure accounted for 9.41% of operating income, a decrease of 1.56 percentage points compared to the previous year[11] - R&D expenses for Q3 2020 were ¥11.96 million, down 14.23% from ¥13.94 million in Q3 2019[40] - Research and development expenses decreased to CNY 11.37 million in Q3 2020 from CNY 13.25 million in Q3 2019, a reduction of 14.2%[47] Investment Activities - The company participated in the strategic placement of SMIC's IPO, resulting in a fair value gain of CNY 46,716,700[13] - The company reported an investment income of ¥6,428,391.40, a recovery from a loss of ¥1,359,000.00 in the previous year[23] - The company recorded investment income of CNY 6.21 million in Q3 2020, compared to no investment income reported in Q3 2019[47] Comprehensive Income - Other comprehensive income after tax for Q3 2020 was ¥102.94 million, compared to a loss of ¥274.45 million in Q3 2019[44] - The company has not reported any significant changes in its profit forecast for the upcoming reporting period[23]

Financial Performance - The company reported a significant increase in revenue for the first half of 2020, with a year-on-year growth of 25%[1]. - The company's operating revenue for the first half of 2020 was CNY 218.14 million, a decrease of 8.96% compared to CNY 239.60 million in the same period last year[23]. - Net profit attributable to shareholders was CNY 46.56 million, an increase of 4.57% from CNY 44.53 million year-on-year[23]. - Net profit after deducting non-recurring gains and losses was CNY 39.96 million, down 19.31% from CNY 49.53 million in the previous year[23]. - The gross margin for the first half of 2020 improved to 35%, up from 30% in the same period last year[1]. - The company reported a revenue of CNY 218.14 million for the reporting period, a decrease of 8.96% compared to the same period last year[100]. - The net profit attributable to shareholders was CNY 46.56 million, an increase of 4.57% year-on-year[100]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 39.96 million, a decrease of 19.31% compared to the previous year[100]. - The company's operating costs increased by 1.77% to CNY 138.43 million, primarily due to higher unit costs of voice coil motor driver chips[102]. - Research and development expenses decreased by 19.86% to CNY 22.37 million, attributed to reduced salary expenses during the COVID-19 pandemic[102]. Market Engagement - User data showed a 15% increase in active users compared to the previous period, indicating strong market engagement[1]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2021[1]. - The company has established a strong customer base, including well-known brands such as Xiaomi, vivo, and OPPO, enhancing its market presence[34]. - The company has formed stable partnerships with leading smartphone camera module manufacturers, with its EEPROM products being used in mainstream smartphone brands such as Samsung, Huawei, and Xiaomi[87]. Product Development and Innovation - New product development efforts include the launch of a next-generation semiconductor chip, expected to enhance performance by 30%[1]. - The company is investing in R&D, with a budget increase of 15% for the upcoming fiscal year to support innovation[1]. - The company has developed a combined EEPROM and VCM driver chip, enhancing competitiveness by reducing the space occupied in camera modules[35]. - The company is actively expanding into new product areas such as audio power amplifier chips and micro motor driver chips, leveraging its strong R&D capabilities[66]. - The company plans to invest 200 million RMB in research and development for new technologies over the next two years[129]. Strategic Acquisitions and Investments - A strategic acquisition of a smaller semiconductor firm was announced, aimed at increasing production capacity by 40%[1]. - The company invested ¥100 million in a private equity fund with a total fundraising scale of ¥2.305 billion, aiming to enhance its industry position and competitive capabilities[117]. Risks and Challenges - The company has identified potential risks related to supply chain disruptions, which could impact future performance[1]. - The decline in performance was primarily due to the impact of the COVID-19 pandemic, which led to a contraction in demand in the smartphone market[25]. - The company faces risks from intensified market competition and potential price declines, as well as the need for timely technology upgrades to maintain product competitiveness[88]. - The ongoing COVID-19 pandemic has negatively affected market demand, particularly in the smartphone sector, leading to a contraction in sales[100]. Research and Development - R&D expenses for the first half of 2020 were CNY 22.37 million, accounting for 10.25% of operating revenue, down from 11.65% in the same period last year[24]. - The company has developed 25 core technologies related to its main business, with 21 of these technologies reaching a mature and stable stage[46]. - The company has filed for 1 domestic invention patent and obtained 1 domestic invention patent authorization during the reporting period, bringing the total to 29 domestic invention patents[51]. - The company has established a comprehensive intellectual property system, including 5 US invention patents and 44 integrated circuit layout design registration certificates[51]. Corporate Governance and Compliance - The company has ensured that all registration documents for the IPO are free from false statements or omissions, taking legal responsibility for their accuracy[133]. - The company and its major shareholders pledged to take legal measures to fulfill all commitments made during the issuance and listing process, accepting supervision from regulatory authorities and investors[138]. - The company has committed to fulfilling all obligations related to its public offering and will accept supervision from regulatory authorities and investors[139]. - The actual controller has guaranteed that any business opportunities that may lead to competition will be reported immediately to the company[141]. Financial Position - The company's total assets at the end of the reporting period were CNY 1.43 billion, an increase of 1.18% from CNY 1.42 billion at the end of the previous year[23]. - The net assets attributable to shareholders were CNY 1.34 billion, up 1.17% from CNY 1.33 billion at the end of the previous year[23]. - The company's trading financial assets at the end of the period amounted to ¥926,734,517.58, accounting for 64.69% of total assets[110]. - The company's total liabilities amounted to CNY 88,460,434.19, an increase from CNY 85,727,609.89 at the end of 2019[191].

Financial Performance - Net profit attributable to shareholders was ¥20,473,929.01, representing a 26.47% increase year-on-year[8]. - Operating revenue for the period was ¥99,997,138.06, a decrease of 10.47% compared to the same period last year[8]. - The company reported a net profit of CNY 133,113,295.88, up from CNY 111,422,002.71, indicating an increase of about 19.5% in retained earnings[34]. - The company reported a total profit of ¥22,914,129.45 for Q1 2020, up 27.1% from ¥18,067,785.57 in Q1 2019[41]. - The net profit for Q1 2020 was CNY 21,691,293.17, compared to CNY 11,844,219.65 in Q1 2019, representing an increase of approximately 83.5%[45]. Cash Flow - The net cash flow from operating activities was ¥31,275,124.77, a significant recovery from a negative cash flow of ¥11,499,736.85 in the previous year[8]. - Operating cash flow turned positive with a net cash inflow of ¥31,275,124.77 compared to a net outflow of ¥11,499,736.85 in the same period last year[20]. - Cash inflow from operating activities totaled CNY 138,623,361.90 in Q1 2020, up from CNY 98,324,737.48 in Q1 2019, indicating a growth of about 40.9%[46]. - The net cash flow from operating activities was CNY 31,275,124.77, a significant improvement from a net outflow of CNY 11,499,736.85 in the same period last year[50]. - The company reported cash outflow from investing activities of CNY 500,009,115.05 in Q1 2020, compared to CNY 172,019.27 in Q1 2019, reflecting a substantial increase in investment[51]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,435,163,866.46, an increase of 1.36% compared to the end of the previous year[8]. - Cash and cash equivalents decreased by 38.21% to ¥763,851,017.09 from ¥1,236,138,679.82 due to the investment in capital-preserving products[18]. - Trade receivables decreased by 46.84% to ¥27,832,178.85 from ¥52,359,222.64, primarily due to the collection of receivables that matured during the period[18]. - The total liabilities increased by 33.02% in accounts payable, rising to ¥62,462,117.48 from ¥46,956,528.86, reflecting increased procurement for inventory[18]. - The total liabilities amounted to CNY 86,557,922.99, slightly up from CNY 85,727,609.89, showing a marginal increase of about 1.0%[34]. Shareholder Information - The total number of shareholders at the end of the reporting period was 10,852, with the largest shareholder holding 21.27% of the shares[12]. - The company is controlled by Mr. Chen Zhuotao, who has significant influence over several major shareholders[14]. Research and Development - The R&D expenditure accounted for 11.30% of operating revenue, down from 13.60% in the previous year, indicating a reduction of 2.30 percentage points[8]. - Research and development expenses for Q1 2020 were ¥11,302,757.75, a decrease of 25.1% from ¥15,191,011.92 in Q1 2019[37]. Other Income and Expenses - The company received government subsidies amounting to ¥26,100.00, which are closely related to its normal business operations[9]. - Other income decreased by 92.78% to ¥26,100.00 from ¥361,520.00, mainly due to a reduction in government subsidies recognized[20]. - The company reported a significant reduction in tax and additional charges, which were ¥31,442.10 in Q1 2020, compared to ¥115,037.87 in Q1 2019[37]. Equity and Earnings Per Share - Basic earnings per share were ¥0.17, a decrease of 5.56% compared to ¥0.18 in the previous year[8]. - The equity attributable to shareholders increased to CNY 1,375,620,579.08 from CNY 1,353,566,961.12, reflecting a growth of approximately 1.6%[34].

Financial Performance - The company's operating revenue for 2019 was CNY 513,371,895.61, representing an 18.78% increase from CNY 432,192,234.81 in 2018[30]. - The net profit attributable to shareholders for 2019 was CNY 95,106,151.48, a 24.95% increase compared to CNY 76,115,342.30 in 2018[30]. - The net profit after deducting non-recurring gains and losses for 2019 was CNY 97,911,555.97, showing a 2.69% increase from CNY 95,346,260.17 in 2018[30]. - The company's total assets at the end of 2019 were CNY 1,415,897,723.66, a 252.06% increase from CNY 402,178,891.26 at the end of 2018[30]. - The net assets attributable to shareholders at the end of 2019 were CNY 1,328,307,256.42, reflecting a 299.19% increase from CNY 332,752,811.74 at the end of 2018[30]. - The basic earnings per share for 2019 was CNY 1.05, up 25.00% from CNY 0.84 in 2018[32]. - The company achieved a total revenue of 7,239.50 million RMB, with a gross profit of 5,478.59 million RMB, indicating a strong performance in the semiconductor market[137]. - The company achieved an annual revenue of 513.37 million RMB, representing a year-on-year growth of 18.78%[160]. - The net profit attributable to shareholders was 95.11 million RMB, an increase of 24.95% compared to the previous year[160]. Research and Development - The company's R&D expenditure as a percentage of operating revenue was 11.24% in 2019, down from 14.67% in 2018[34]. - The total R&D investment for the reporting period was ¥57,707,719.93, accounting for 11.24% of the operating revenue[126]. - The company has developed 25 core technologies related to its main business, covering EEPROM chips, voice coil motor driver chips, and smart card chips, with 21 technologies reaching a mature and stable stage[122]. - The company has filed for or obtained patents for 20 core technologies, ensuring protection of its intellectual property[122]. - The company has a strong R&D team, with a total of 64 personnel, of which 46.88% hold a master's degree or higher, and the average salary for R&D personnel is 457,679.22 RMB[140][142]. - The company is focusing on expanding its product offerings in the audio amplifier chip and micro motor driver chip markets, leveraging its strong analog and mixed-signal R&D capabilities[146]. Market Position and Competition - The company ranked third globally in EEPROM product supply in 2018, holding approximately 8.17% market share, and ranked first among domestic EEPROM companies[50]. - The company became the leading supplier of smartphone camera EEPROM products in 2018, capturing about 42.72% of the global market share in this segment[50]. - The company holds a dominant position in the smartphone camera EEPROM market with a 42.72% share, making it the largest supplier in this segment[104]. - The voice coil motor driver chip business has a global market share of approximately 0.63%, indicating significant room for growth[109]. - The company faces significant competition in the voice coil motor driver chip market, with major players holding a combined market share of 75.5%[109]. - The company is exposed to risks from macroeconomic fluctuations and trade tensions, which could impact demand for its products[178]. Corporate Governance and Compliance - The company has disclosed potential risks in the "Discussion and Analysis of Operating Conditions" section, urging investors to review these risks[7]. - The company received a standard unqualified audit report from Lixin Certified Public Accountants[8]. - The board of directors and senior management have confirmed the accuracy and completeness of the annual report[6]. - There are no non-operating fund occupations by controlling shareholders or related parties[11]. - The company does not have any special arrangements for corporate governance[10]. - The company has not violated decision-making procedures for external guarantees[11]. - The annual report includes a forward-looking statement risk declaration, reminding investors of investment risks[10]. Sales and Production - The company reported quarterly revenues of 111.69 million RMB, 127.92 million RMB, 142.17 million RMB, and 131.59 million RMB for Q1, Q2, Q3, and Q4 of 2019, respectively[42]. - The sales volume of the company's main products in the reporting period was 1.715 billion EEPROM chips, 57 million voice coil motor driver chips, and 471 million smart card chips, representing year-on-year growth of 35.91%, 133.62%, and 65.82% respectively[159]. - The corresponding sales revenue for these products was 452.51 million yuan, 12.21 million yuan, and 47.61 million yuan, with year-on-year growth of 17.38%, 105.76%, and 23.30% respectively[159]. - The company's EEPROM product revenue accounted for over 80% of total revenue in the past three years, driven by the upgrade of smartphone camera modules and the development of IoT[161]. - The company has established long-term stable partnerships with leading smartphone camera module manufacturers, with its EEPROM products applied in major brands like Samsung, Huawei, and Xiaomi[166]. Risks and Challenges - The company faces risks from intensified market competition and potential price declines in its products due to aggressive pricing strategies from competitors[168]. - The company is committed to maintaining a stable supply chain despite fluctuations in downstream market demand, ensuring consistent product availability[165]. - The company experienced a decline in cash flow from operating activities, with a net cash flow of CNY 73,773,739.34 in 2019, down 18.10% from CNY 90,078,171.54 in 2018[30]. - The gross margin for the integrated circuit segment decreased by 5.09 percentage points to 40.78% due to a reduction in the average selling price of EEPROM products[187]. Investment and Future Plans - The company plans to enhance its R&D capabilities and increase investment in product development to adapt to changing market demands[40]. - The company plans to expand its R&D investment to enhance existing product lines and explore new markets such as automotive electronics and DDR5 memory[164]. - The company is actively pursuing technology upgrades and design improvements to optimize chip area and significantly reduce chip costs, enhancing market competitiveness[145].