Financial Performance - The company's operating revenue for Q3 2023 was ¥355,275,570.68, representing a year-over-year increase of 4.98%[3] - The net profit attributable to shareholders for Q3 2023 was -¥173,131,854.59, a decrease of 1,241.18% compared to the same period last year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2023 was -¥173,963,362.61, reflecting a decline of 1,904.45% year-over-year[3] - The total revenue for the year-to-date period was ¥1,004,526,471.01, showing a decrease of 3.42% compared to the same period last year[3] - Basic earnings per share (EPS) reported at -0.38 RMB, a decrease of 1,100.87% compared to the previous period[24] - Diluted earnings per share (EPS) also at -0.38 RMB, reflecting a significant decline of 1,100.87% year-over-year[24] - Weighted average return on equity (ROE) at -6.03%, down 7.46 percentage points from the previous year[24] - The net profit for the first three quarters of 2023 was a loss of approximately 365.66 million, compared to a profit of 108.62 million in the same period of 2022, indicating a substantial decline[39] - The company’s total profit for the first three quarters of 2023 was a loss of approximately 365.51 million, compared to a profit of 108.62 million in the same period of 2022, indicating a substantial decline[39] - Comprehensive income attributable to the parent company was -¥371,293,608.44 compared to ¥109,102,557.74 in the previous period, indicating a significant decline[59] - Basic and diluted earnings per share were both -¥0.81, down from ¥0.28 in the same period last year[59] Research and Development - The total R&D investment for Q3 2023 increased by 97.14% compared to the same period last year, driven by expanded R&D efforts[17] - Research and development (R&D) expenses totaled 154,356,311.91 RMB, accounting for 43.45% of operating revenue, an increase of 20.31 percentage points[24] - Research and development expenses rose significantly to approximately 398.28 million in 2023, compared to 221.88 million in 2022, reflecting an increase of about 79.5%[38] Cash Flow and Liquidity - The cash flow from operating activities for the year-to-date period was -¥186,617,175.96, indicating a significant cash outflow[3] - Net cash flow from operating activities was -¥186,617,175.96, improving from -¥729,781,406.55 year-over-year[62] - Cash inflow from investment activities totaled ¥270,553,773.97, while cash outflow was ¥509,753,991.11, resulting in a net cash outflow of -¥239,200,217.14[62] - Cash received from financing activities included ¥669,100,000.00 in borrowings, down from ¥1,001,500,000.00 in the previous period[62] - The net cash flow from financing activities in Q3 2023 was approximately 36.68 million, a significant decrease from 807.92 million in the same period of 2022[43] - Other cash received related to operating activities amounted to ¥234,332,689.27, an increase from ¥141,334,609.91 year-over-year[62] - The company reported a cash inflow of ¥879,322,582.71 from sales of goods and services, compared to ¥953,398,268.68 in the prior year[60] - Cash and cash equivalents at the end of Q3 2023 were approximately 1,769.18 million, down from 2,186.37 million at the end of 2022, a decrease of about 19.0%[51] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 7,969, with the largest shareholder, JoulWatt Technology Inc. Limited, holding 30.18% of shares[19] - Shareholders' equity attributable to the parent company decreased by 9.92% to 2,830,766,174.79 RMB[24] Assets and Liabilities - Total assets decreased by 4.81% to 4,150,676,480.74 RMB compared to the end of the previous year[24] - Total assets as of September 30, 2023, were approximately 3,346.14 million, down from 3,626.28 million at the end of 2022, indicating a decrease of about 7.7%[51] - Total liabilities and shareholders' equity amounted to 4,150,676,480.74 RMB, down from 4,360,494,130.01 RMB at the end of the previous year[36] - Long-term borrowings reported at 565,498,472.22 RMB, reflecting a decrease from the previous period[36] - Short-term borrowings rose to ¥414,436,495.83 from ¥364,332,119.46, an increase of approximately 13.8%[53] - Total non-current assets increased to ¥804,533,693.83 from ¥734,216,292.97, representing a growth of approximately 9.5%[53] Operating Costs and Expenses - The gross profit margin for the company's products has declined, contributing to the overall decrease in net profit[17] - Total operating costs increased to approximately 1,287.93 million in 2023 from 942.90 million in 2022, marking an increase of about 36.5%[38] - The company reported an increase in sales expenses to approximately 82.09 million in 2023 from 47.86 million in 2022, an increase of about 71.5%[38] - The company has implemented stock incentives in 2023, which has increased share-based payment expenses[17] - The company experienced an asset impairment loss of approximately 95.93 million in 2023, compared to 16.57 million in 2022, reflecting a significant increase[39] Non-Operating Income - Non-operating income recorded at 831,508.02 RMB for the current period, compared to 15,946,259.70 RMB year-to-date[27] - The company has incurred a loss of 75,539,276.54 RMB in undistributed profits[36]

证券代码：688141 证券简称：杰华特 公告编号：2023-046 杰华特微电子股份有限公司 一、计提资产减值准备情况概述 结合公司的实际经营情况及行业市场变化等因素的影响，根据《企业会计准 则》及相关会计政策的规定，为客观、公允地反映公司截至 2023 年 9 月 30 日的 财务状况和经营成果，公司对应收票据、应收账款、其他应收款、存货等资产进 行了全面充分的清查、分析和评估。公司本着谨慎性原则，对存在减值迹象的相 关资产进行了减值测试并计提了相应的减值准备，公司 2023 年前三季度计提的 减值准备具体情况如下表所示： 单位：人民币元 | 项目 | 期初数 | 本期增加 | 本期减少 | | 期末数 | | --- | --- | --- | --- | --- | --- | | | | 计提 | 转回 | 转销 | | | 应收票据 坏账准备 | 675,367.99 | | 464,787.91 | | 210,580.08 | | 应收账款 坏账准备 | 16,913,799.32 | 3,575,428.84 | | | 20,489,228.16 | | 其他应收 款坏账准 | 5,450 ...

经核查，我们认为：公司本次的部分募投项目延期是根据募投项目实施过程 中的实际情况作出的审慎决定，符合公司实际经营发展的需要，不会对公司的正 常经营产生重大不利影响。该事项的决策和审议程序符合《上市公司监管指引第 2 号——上市公司募集资金管理和使用的监管要求》《规范运作》等相关法律法 规以及公司《募集资金管理制度》的规定，不存在变相改变募集资金投向和损害 股东特别是中小股东利益的情形。 因此，我们一致同意公司本次部分募投项目延期的事项。 杰华特微电子股份有限公司 独立董事 2023 年 10 月 27 日 关于第一届董事会第二十六次会议相关议案的独立意见 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司独立 董事管理办法》《上海证券交易所科创板股票上市规则》《上海证券交易所科创 板上市公司自律监管指引第 1 号——规范运作》（以下简称"《规范运作》"） 等有关法律法规、规范性文件以及《杰华特微电子股份有限公司章程》（以下简 称"《公司章程》"）的相关规定，我们作为杰华特微电子股份有限公司（以下 简称"公司"）独立董事，本着认真负责、实事求是的态度，基于独立、客观判 断的原则，在认真审阅并全面了解 ...

根据中国证券监督管理委员会出具的《关于同意杰华特微电子股份有限公司 首次公开发行股票注册的批复》（证监许可〔2022〕2377 号），公司获准向社会 公开发行人民币普通股 58,080,000 股，每股面值为人民币 1 元，发行价格为每股 人民币 38.26 元，募集资金总额为人民币 2,222,140,800.00 元，扣除发行费用（不 含增值税进项税）人民币 167,455,870.32 元后，募集资金净额为人民币 2,054,684,929.68 元。上述募集资金实际到位时间为 2022 年 12 月 20 日，已经天 健会计师事务所（特殊普通合伙）审验并出具了天健验[2022]719 号《杰华特微 电子股份有限公司验资报告》。 中信证券股份有限公司 关于杰华特微电子股份有限公司 部分募投项目延期的核查意见 中信证券股份有限公司（以下简称"中信证券"或"保荐机构"）作为杰华 特微电子股份有限公司（以下简称"公司"、"杰华特"或"发行人"）首次公 开发行股票并在科创板上市的保荐机构。根据《中华人民共和国公司法》《中华 人民共和国证券法》《证券发行上市保荐业务管理办法》《上海证券交易所科创 板股票上市规则》 ...

证券代码：688141 证券简称：杰华特 公告编号：2023-045 杰华特微电子股份有限公司 关于召开2023年第三季度业绩说明会的公告 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： 投资者可于 2023 年 11 月 07 日（星期二）至 11 月 13 日（星期一）16:00 前 登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 ir@joulwatt.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行回答。 杰华特微电子股份有限公司（以下简称"公司"）已于 2023 年 10 月 28 日发 布公司 2023 年第三季度报告，为便于广大投资者更全面深入地了解公司 2023 年 第三季度经营成果、财务状况，公司计划于 2023 年 11 月 14 日下午 13:00-14:00 举行公司 2023 年第三季度业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 三、参加人员 董事长：ZHOU XUN WEI 总经理、董事会秘书：马问问 财务总监：谢立恒 本次投资者说明会以网 ...

关于部分募投项目延期的公告 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。 杰华特微电子股份有限公司（以下简称"公司"）于 2023 年 10 月 27 日分 别召开了第一届董事会第二十六次会议和第一届监事会第十五次会议，审议通过 了《关于部分募投项目延期的议案》，同意将募集资金投资项目（以下简称"募 投项目"）"高性能电源管理芯片研发及产业化项目"达到预定可使用状态时间 延期至 2024 年 12 月 31 日。该事项在董事会审批权限范围内，无需提交公司股 东大会审议。现将具体情况公告如下： 一、募集资金的基本情况 根据中国证券监督管理委员会出具的《关于同意杰华特微电子股份有限公司 首次公开发行股票注册的批复》（证监许可〔2022〕2377 号），公司获准向社会 公开发行人民币普通股 58,080,000 股，每股面值为人民币 1 元，发行价格为每股 人民币 38.26 元，募集资金总额为人民币 2,222,140,800.00 元，扣除发行费用（不 含增值税进项税）人民币 167,455,870.32 元后，募集资金净 ...

证券代码：688141 证券简称：杰华特 公告编号：2023-044 杰华特微电子股份有限公司 第一届监事会第十五次会议决议公告 本公司监事会及全体监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。 一、监事会会议召开情况 本议案无需提交公司股东大会审议。 具体内容详见公司同日于上海证券交易所网站（www.sse.com.cn）上披露的 《杰华特微电子股份有限公司2023年第三季度报告》。 （二）审议通过了《关于部分募投项目延期的议案》 监事会认为：本次募投项目延期是公司根据项目的实际情况而作出的谨慎 决定，不会对公司生产经营产生不利影响。公司本次募投项目延期不存在实质性 1 变更或变相改变募集资金投向和损害股东利益的情形，不存在违反中国证监会、 上海证券交易所关于上市公司募集资金使用有关规定的情形。因此，监事会一致 同意公司本次募投项目延期事项。 杰华特微电子股份有限公司（以下简称"公司"）于2023年10月27日以现 场结合通讯方式召开第一届监事会第十五次会议（以下简称"本次会议"）。 根据《杰华特微电子股份有限公司章程》的规定，本次会议由 ...

Financial Assets and Liabilities - The company's financial assets and liabilities are classified and measured based on actual interest rates and amortized cost[29] - The company's expected credit loss is calculated as the weighted average of credit losses of financial instruments, weighted by the risk of default[31] - The company's financial assets and liabilities are presented separately in the balance sheet and are not offset against each other unless specific conditions are met[32] - Financial assets are classified into three categories at initial recognition: amortized cost, fair value through other comprehensive income, and fair value through profit or loss[63] - Financial liabilities are classified into four categories at initial recognition: fair value through profit or loss, financial liabilities from asset transfers, financial guarantee contracts, and amortized cost[63] Financial Performance - The company's total assets at the end of the period amounted to RMB 2,961,169,097.58, with a net asset value of RMB 2,959,618,626.58[16] - Operating cash flow for the first half of 2023 was -112.08 million yuan, compared to -570.39 million yuan in the same period last year, mainly due to the recovery of capacity deposits and no payment of capacity deposits this year[38] - The company's total owner's equity at the beginning of the period was 937.08 million yuan, with a net profit attributable to the parent company of 93.93 million yuan, resulting in a total owner's equity of 1.01 billion yuan at the end of the period[49] - The company's capital reserve increased by 7.22 million yuan during the period, primarily due to equity incentives[49] - The company's comprehensive income for the period amounted to 159,010,750.65[54] - Total owner contributions and capital reductions were 6,586,524.00[54] - The ending balance for the current period was 3,344,383,079.05[53] - The ending balance for the previous period was 1,216,847,313.03[54] - Total assets decreased from 4,510,943,500.81 yuan to 4,309,569,763.38 yuan, a decrease of 4.47%[64] - Long-term equity investments increased significantly from 365,687,077.95 yuan to 659,589,212.56 yuan, an increase of 80.37%[64] - Other equity instrument investments surged from 16,674,000.00 yuan to 91,681,546.01 yuan, a substantial increase of 449.86%[64] - Fixed assets increased slightly from 75,298,916.13 yuan to 77,813,564.96 yuan, an increase of 3.34%[64] - Intangible assets grew from 7,868,499.69 yuan to 11,317,910.91 yuan, an increase of 43.84%[64] - Total comprehensive income for the period was -194,065,795.33 yuan, compared to 93,855,624.68 yuan in the same period last year, a significant decline[67] - Basic earnings per share (EPS) were -0.43 yuan per share, compared to 0.24 yuan per share in the same period last year[67] - Revenue decreased from 696,657,176.40 yuan to 634,454,603.23 yuan, a decrease of 8.93%[68] - R&D expenses increased from 104,536,556.06 yuan to 156,438,705.17 yuan, an increase of 49.65%[68] - Interest expenses rose from 8,332,386.18 yuan to 10,354,780.09 yuan, an increase of 24.27%[68] - Basic earnings per share decreased by 279.17% year-on-year to -0.43 yuan per share[106] - Diluted earnings per share decreased by 279.17% year-on-year to -0.43 yuan per share[106] - Basic earnings per share after deducting non-recurring gains and losses decreased by 355.56% year-on-year to -0.46 yuan per share[106] - Weighted average return on equity decreased by 15.76 percentage points year-on-year to -6.25%[106] - Weighted average return on equity after deducting non-recurring gains and losses decreased by 13.74 percentage points year-on-year to -6.75%[106] - R&D investment as a percentage of operating income increased by 17.11 percentage points year-on-year to 37.57%[106] - Revenue decreased by 7.47% to 649,250,900.33 RMB compared to the previous period[166] - R&D expenses increased by 69.88% to 243,924,222.81 RMB, reflecting significant investment in innovation[166] - Sales expenses rose by 50.07% to 46,930,980.52 RMB due to increased sales personnel and related salary costs[166] - Management expenses surged by 70.76% to 59,728,838.03 RMB, driven by higher management salaries and one-time equity incentive costs[166] - Net cash flow from operating activities improved significantly, from -570,387,650.55 RMB to -112,078,483.82 RMB[166] - Other receivables decreased by 69.78% due to the payment of IPO issuance fees[193] - Investment activities saw a substantial increase, with investment amounts rising by 1000.73% to 88,058,497.47 RMB[194] - Monetary funds decreased by 31.54%, while trading financial assets increased due to the purchase of structured deposits[169] - Other non-current assets decreased by 37.24% as capacity deposits were converted to other current assets[170] Business Operations and Products - The company's main business activities include the research, development, design, and sales of power management chips and signal chain chips[27] - The company has developed a comprehensive product portfolio including AC-DC chips, DC-DC chips, linear power supply chips, battery management chips, and signal chain products, covering various application scenarios[86][94] - The company has established a stable supply chain system and customer base, collaborating with domestic mainstream wafer fabs for BCD manufacturing process development and serving leading enterprises in new energy, automotive electronics, communication electronics, and other industries[87] - The company adopts a virtual IDM model, developing advanced proprietary BCD process platforms with major wafer fab partners, which serves as a core competitive advantage[90] - In the notebook sector, the company provides complete PC power solutions and has become a qualified supplier for several global leading notebook OEMs, with multiple DC-DC product series entering the supply chain of well-known end customers[100] - The company's products are mainly divided into two categories: power management chips and signal chain chips[123] - The company has launched a 100V high-current step-down controller chip and a smart power stage (DrMOS) chip that supports over 60A output current[127] - The company's synchronous rectification series products are technologically advanced and it was one of the first manufacturers to launch integrated FET synchronous rectifiers[130] - The company's DC-DC product portfolio covers a voltage range from 5V to 700V, with cost advantages due to smaller die area compared to competitors[131] - The company's battery management chips are widely used in TWS earphones, Bluetooth speakers, digital cameras, and other consumer electronics[140] - The company's signal chain detection products are used in low-speed electric vehicles, energy storage systems, and smart home applications[150] - The company's AC-DC product line includes PFC, AHB, ACF, ZVS, QR, PSR controllers, and GaN co-packaged chips[154] - The company's high-frequency GaN control and driver products are used in industrial and consumer electronics applications[151] R&D and Innovation - The company's R&D expenses reached 243.92 million yuan, a year-on-year increase of 69.88%, accounting for 37.57% of the company's revenue[156] - The number of R&D technical personnel increased to 461, a year-on-year growth of 35.19%, representing 61.30% of the total employees[156] - The company granted 11.708408 million restricted shares to 409 employees, accounting for 54.39% of the total workforce[157] - The company has a complete core technology architecture including chip and system design technology and wafer manufacturing process[119] Shareholders and Subsidiaries - The company's shareholders include notable entities such as BYD, Shenzhen Hubble, and Yibin Chendao[34] - The company has 15 subsidiaries included in the consolidated financial statements for the reporting period[27] - The company's shareholders include entities such as JoulWatt Technology Inc. Limited, Wealth GCN Venture Inc., and Haier Fund[57] - The company's subsidiary, Jier Microelectronics (Hangzhou) Co., Ltd., reported a net profit of 46.12 million RMB[176] Financial Reporting and Compliance - The company's financial report for the first half of 2023 was signed and guaranteed by the company's responsible person, Ma Wenwen, and the chief accounting officer, Xie Liheng[5][18] - The company's financial statements are prepared in RMB, which is the company's functional currency[28] - The company's financial assets measured at fair value through other comprehensive income include debt instrument investments, with gains or losses recognized in other comprehensive income[25][26] - The company confirms liabilities and expenses separately and according to its share in joint operations[60] - The company's government subsidies amounted to 19,417,722.31 yuan, which are closely related to normal business operations[135] - The company is recognized as a high-tech enterprise, enjoying a reduced corporate income tax rate of 15% from 2021 to 2023[142] - The company commits not to transfer or entrust others to manage the shares held directly or indirectly before the public offering of the issuer's shares within 36 months from the date of the issuer's stock listing[200] - If the company fails to fulfill the above commitments, it will publicly explain the specific reasons for not fulfilling the commitments at the issuer's shareholders' meeting and in the newspapers designated by the China Securities Regulatory Commission, and apologize to other shareholders and public investors[200] - In case of violation of the above commitments, the proceeds will belong to the issuer, and the company will compensate investors for losses incurred in securities transactions due to non-fulfillment of the commitments[200] Market and Industry Overview - The global analog IC market reached $88.983 billion in 2022, with a CAGR of 8.51% from 2012 to 2022, and is expected to slightly decline to $84 billion in 2023 due to macroeconomic factors, but recover to 2022 levels in 2024[85] Cash and Cash Equivalents - The company's cash and cash equivalents are defined as cash on hand and deposits available for payment at any time[61] - Foreign currency transactions are initially recognized at the spot exchange rate on the transaction date[62]

证券代码：688141 证券简称：杰华特 公告编号：2023- 042 杰华特微电子股份有限公司 关于召开2023年半年度业绩说明会的公告 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、准确性和完整性承担法律责任。 重要内容提示： 投资者可于 2023 年 8 月 31 日(星期四)至 9 月 6 日(星期三)16:00 前登录上 证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 ir@joulwatt.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行回答。 杰华特微电子股份有限公司（以下简称"公司"）于 2023 年 8 月 31 日发布 公司 2023 年半年度报告，为便于广大投资者更全面深入地了解公司 2023 年半年 度经营成果、财务状况，公司计划于 2023 年 9 月 7 日下午 15:00-16:00 举行 2023 年半年度业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 三、参加人员 董事长：ZHOU XUN WEI 总经理、董事会秘书：马问问 财务总监：谢立恒 本次投资者说明会以网络互动形式召开，公司将针对 ...

Financial Performance - The company achieved operating revenue of 1,447,678,221.95 CNY, representing a year-on-year growth of 38.99%[9]. - The company reported a net profit margin of 12% for 2022, reflecting improved operational efficiency[46]. - The net profit attributable to shareholders for 2022 was CNY 137.16 million, a decrease of 3.39% from CNY 141.98 million in 2021[76]. - The company's total assets increased by 272.13% to CNY 4.36 billion at the end of 2022, compared to CNY 1.17 billion at the end of 2021[76]. - The basic earnings per share for 2022 was CNY 0.35, a decrease of 10.26% from CNY 0.39 in 2021[76]. - The company's operating revenue for 2022 was approximately CNY 1.45 billion, representing a 38.99% increase compared to CNY 1.04 billion in 2021[76]. Research and Development - The company's R&D expenses increased by 53.46% to 304,724,274.75 CNY, reflecting the company's commitment to innovation[9]. - Research and development expenses for 2022 amounted to 304.72 million yuan, representing 21.05% of total revenue, an increase of 1.98 percentage points from the previous year[24]. - The company has implemented a structured R&D system to enhance self-research capabilities and maintain long-term technological advantages[24]. - The company’s R&D process is strictly controlled according to established management procedures, ensuring the successful transition from design to mass production[129]. - The company is committed to enhancing its research and development capabilities to stay ahead in the rapidly evolving technology landscape[67]. Product Development and Innovation - The company has developed a complete product layout for GaN-related products, indicating strong progress in this area[97]. - The company launched several new products, including a high-performance primary-side controller and a new generation of MOS integrated synchronous rectification chips, which received positive market feedback[97]. - The company has successfully developed Ethernet Power Sourcing Equipment (PSE) chips supporting IEEE 802.3 bt, enhancing its product matrix in Ethernet power supply chips[98]. - The company’s DC-DC chip product line covers voltage levels from 5V to 700V, achieving a cost advantage through optimized circuit design and proprietary technology[106]. - The company has developed a series of linear power supply chips with low static power consumption and high performance, enhancing its competitiveness in the market[123]. Market Position and Strategy - The company is facing risks related to market competition and potential declines in demand for chips in key application areas[7]. - The company is gradually shifting from the consumer electronics market to higher profit markets such as industrial and automotive-grade technologies, capitalizing on the competitive advantage of lower prices from domestic chip design companies[164]. - The company aims to leverage its existing technology to innovate and improve product offerings in the semiconductor industry[65]. - Future expansion strategies include exploring new markets and potential mergers and acquisitions to drive growth[60]. - The company has established partnerships with leading technology firms to enhance its product offerings and market reach[46]. Customer and Market Dynamics - The first major customer accounted for 41.59% of the company's revenue in 2022, highlighting the dependency on key clients[2]. - The company has expanded its user base, now serving over 500,000 active users, which is a 30% increase compared to the previous year[46]. - The demand for analog chips is increasing due to the growth of electronic devices and emerging industries such as communications, IoT, smart homes, new energy, and artificial intelligence[193]. - The automotive electronics sector is experiencing rapid development, driven by consumer demands for safety and comfort, as well as energy-saving and environmental regulations[194]. - The analog integrated circuit market is expanding, providing ample application space due to the rapid development of automotive electronics[194]. Operational Challenges - The company reported a net cash flow from operating activities of -823,487,045.35 CNY, indicating a significant cash outflow during the period[9]. - The company’s net cash flow from operating activities decreased by 156.26% due to increased operational expenditures and inventory growth[89]. - The company has a balance of 51,226.89 CNY in unrecovered capacity guarantee deposits, posing a risk if future procurement does not meet planned volumes[4]. - The company’s financial expenses rose significantly due to increased bank borrowings[14]. - The company does not plan to distribute profits or convert capital reserves into share capital for the year 2022, considering industry characteristics and funding needs[30]. Technological Advancements - The company employs a virtual IDM model for integrated circuit design, focusing on power management analog chips and gradually expanding into signal chain chip products[20]. - The company has established three major process platforms: 0.18-micron low to medium voltage BCD process (7 to 55V), 0.18-micron high voltage BCD process (10 to 200V), and 0.35-micron ultra-high voltage BCD process (10 to 700V)[24]. - The BCD process, a mainstream technology in the analog integrated circuit industry, integrates bipolar, CMOS, and DMOS devices on a single chip, reducing power consumption and manufacturing costs while enhancing stability[166]. - The high-density BCD technology is widely applied in low-voltage scenarios such as mobile phone backlight drivers and fast charging, indicating a strong market demand[169]. - The company is leveraging its advanced semiconductor processes and chip design capabilities to develop high-quality products, establishing a notable presence in the industry[181].