2022 年第一季度报告 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 公司董事会、监事会及董事、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、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务报表 信息的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 证券代码：688181 证券简称：八亿时空 北京八亿时空液晶科技股份有限公司 2022 年第一季度报告 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比上年同 期增减变动幅度 | | --- | --- | --- | | | | (%) | | 营业收入 | 258,489,628.24 | 24.47 | | 归属于上市公司股东的净利润 | 62,695,655.94 | 29.71 | | 归属于上市公司股东的扣除非经常 | 54,664,262.17 | 19.87 | ...

Financial Performance - The company's operating revenue for 2021 was CNY 886.78 million, representing a year-on-year increase of 36.71% compared to CNY 648.68 million in 2020[20]. - The net profit attributable to shareholders for 2021 was CNY 206.71 million, up 21.26% from CNY 170.47 million in 2020[20]. - The net cash flow from operating activities increased by 50.08% to CNY 193.14 million in 2021, compared to CNY 128.69 million in 2020[21]. - The company's total assets at the end of 2021 were CNY 2,157.89 million, an increase of 11.42% from CNY 1,936.64 million at the end of 2020[21]. - The basic earnings per share for 2021 were CNY 2.14, reflecting a growth of 20.90% from CNY 1.77 in 2020[22]. - The net profit after deducting non-recurring gains and losses was CNY 173.59 million, a 21.37% increase from CNY 143.03 million in 2020[20]. - The company's net assets attributable to shareholders increased by 8.83% to CNY 1,836.68 million at the end of 2021, compared to CNY 1,687.70 million at the end of 2020[21]. - The company's total revenue for 2021 was 886.78 million RMB, an increase of 36.71% compared to the previous year[83]. - The operating costs for 2021 amounted to 471.26 million RMB, up 38.20% from the previous year[84]. - The gross margin for the core product, high-performance TFT mixed liquid crystal materials, was 48.89%, an increase of 1.03 percentage points compared to the previous year[88]. Research and Development - Research and development expenses accounted for 5.91% of operating revenue in 2021, up from 5.33% in 2020[22]. - Research and development investment reached 52.44 million yuan in 2021, representing a year-on-year growth of 51.72%, with the number of R&D personnel increasing from 87 to 103[31]. - The company has developed 57 new structures of negative monomers for high-transmittance FFS liquid crystal materials, with performance tests showing positive results from BOE Technology Group[55]. - The company applied for 95 new invention patents during the reporting period, with 59 related to OLED materials and 31 related to liquid crystal materials[54]. - The company has successfully developed and optimized production processes for 88 types of intermediates and monomers in OLED materials, leading to increased sales and stable supply to both domestic and international markets[55]. - The company has made significant progress in the development of photolithography materials, with small-scale synthesis of PHS resin completed and optimization of mid-scale processes underway[56]. - R&D expenses increased by 51.72% year-on-year, primarily due to the company's continuous optimization of industrial layout and strengthening of R&D innovation[60]. Market Expansion and Strategy - The company plans to continue expanding its market presence and enhancing product quality to sustain growth in the coming years[23]. - The company is focused on expanding its market presence and enhancing its product offerings through technological advancements[6]. - The company aims to strengthen its long-term competitiveness through enhanced internal management, cost control, and supply chain optimization[31]. - The company is committed to building a globally influential electronic materials platform enterprise, focusing on strategic industry layout opportunities in semiconductor materials and pharmaceuticals[31]. - The company is actively expanding its customer base among large panel manufacturers, including HKC and Innolux[79]. - The company is exploring potential acquisitions to enhance its product portfolio and market reach, with a budget of $100 million allocated for this purpose[190]. - The company is focusing on R&D for new liquid crystal varieties and enhancing collaboration with customers to meet their needs[148]. Governance and Compliance - The company has established a complete proprietary intellectual property system in the production of TFT mixed liquid crystal materials, achieving several technological breakthroughs[40]. - The company strictly adhered to the Company Law and Securities Law, ensuring effective governance and protection of shareholder rights during the reporting period[171]. - The board of directors consists of 9 members, including 3 independent directors, and operated in compliance with relevant regulations throughout the reporting period[173]. - The company held three shareholder meetings in 2021, all of which passed resolutions without any objections, demonstrating effective governance practices[180]. - The independent director, Geng Yi, resigned during the reporting period, and Lu Jin was elected as a new independent director[176]. - The company has maintained a robust internal control system to support its governance framework and protect shareholder interests[171]. Risks and Challenges - The company has outlined potential risks in its management discussion and analysis section, advising investors to be cautious[4]. - The company faces risks related to inventory impairment due to customized production and long production cycles of 90-160 days[80]. - The company is at risk of falling behind in technology upgrades if it does not keep pace with industry innovations, particularly in polyimide and photoresist materials[81]. - The company emphasizes the importance of investor awareness regarding the risks associated with forward-looking statements in the report[7]. Customer and Market Dynamics - The company has established itself as a strategic supplier for major panel manufacturers, including BOE Technology Group, enhancing its market influence and customer resource advantages[46]. - The domestic display panel industry is experiencing rapid growth, with increasing demand for liquid crystal materials, although the overall domestic production still relies heavily on imports[40]. - The company has reported a significant increase in customer orders due to rising demand for LCD panels and materials, contributing to revenue growth[23]. - The revenue from the largest customer, BOE Technology Group, accounted for 58.70% of total sales, a decrease of 8.18 percentage points from the previous year[77]. Future Outlook - The company provided guidance for Q4 2023, expecting revenue to reach between $1.6 billion and $1.7 billion, which would reflect a growth of 10-13% compared to Q3 2023[185]. - New product launches are anticipated to contribute an additional $200 million in revenue over the next fiscal year[185]. - The company is investing $50 million in R&D for new technologies aimed at enhancing user experience and product efficiency[185]. - Market expansion plans include entering three new international markets by the end of 2024, targeting a 15% increase in global market share[185].

Financial Performance - The company's operating revenue for Q3 2021 was ¥228,780,544.55, representing a year-over-year increase of 39.01%[4] - The net profit attributable to shareholders for the same period was ¥65,497,423.98, reflecting a growth of 35.11% compared to the previous year[4] - The basic earnings per share for Q3 2021 was ¥0.68, an increase of 36.00% year-over-year[5] - Total operating revenue for the first three quarters of 2021 reached ¥652,236,825.14, a significant increase from ¥448,244,081.58 in the same period of 2020, representing a growth of approximately 45.5%[19] - Net profit for the first three quarters of 2021 was ¥168,787,291.07, up from ¥132,966,893.19 in 2020, reflecting a growth of approximately 26.9%[21] - Earnings per share for the first three quarters of 2021 was ¥1.75, compared to ¥1.38 in the same period of 2020, marking an increase of about 27%[21] Research and Development - Research and development expenses totaled ¥12,415,967.93 in Q3 2021, which is 28.34% higher than the same period last year[5] - The company is actively advancing its R&D projects for LCD materials and accelerating the development of OLED and other materials[8] - Research and development expenses for the third quarter of 2021 amounted to ¥33,898,759.20, up from ¥23,253,617.53 in the previous year, indicating a growth of approximately 45.6%[20] - The company is currently developing new technologies and products, although specific details were not disclosed in the report[13] Assets and Liabilities - The total assets of the company at the end of the reporting period were ¥2,078,265,077.11, marking a 7.31% increase from the end of the previous year[5] - Total assets as of the end of the third quarter of 2021 were ¥2,078,265,077.11, compared to ¥1,936,638,182.92 at the end of the previous year, representing an increase of about 7.3%[16] - Total liabilities as of the end of the third quarter of 2021 were ¥273,677,108.02, compared to ¥248,935,023.03 in the previous year, reflecting an increase of approximately 9.9%[16] - Non-current assets totaled ¥545,281,670.10 at the end of the third quarter of 2021, compared to ¥367,665,821.67 in the previous year, indicating a growth of about 48.3%[16] Cash Flow - The cash flow from operating activities for the year-to-date period was ¥130,067,242.82, showing a 35.61% increase compared to the previous year[4] - Cash inflow from operating activities for the first three quarters of 2021 reached ¥693.73 million, a 42.2% increase from ¥488.00 million in the same period of 2020[23] - Net cash flow from operating activities amounted to ¥130.07 million, up 35.3% from ¥95.92 million year-on-year[23] - Cash inflow from investment activities totaled ¥2.58 billion, compared to ¥1.25 billion in the previous year, marking a 107.5% increase[24] - Net cash flow from investment activities was ¥71.39 million, a significant recovery from a negative cash flow of ¥1.06 billion in the same period last year[24] - Cash inflow from financing activities was ¥27.00 million, up from ¥5.00 million in the previous year[24] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 9,661[10] - Total equity attributable to shareholders amounted to approximately $1.69 billion[28] - The company's capital reserve stands at approximately $1.21 billion[28] - Unallocated profits reached approximately $335.1 million[28] - The company has a surplus reserve of approximately $45.4 million[28] - The total capital stock reported is approximately $96.5 million[28] Other Information - The company attributed the revenue growth to increased demand for LCD panels and a rise in customer orders[8] - The net profit growth was driven by improved management, technology enhancements, and cost control measures[8] - There were no significant mergers or acquisitions reported during the quarter[13] - The company has not provided specific guidance for future performance in the upcoming quarters[13] - The company adopted the new leasing standards effective January 1, 2021, with no significant impact expected on financial statements[29] - The adjustments made to financial statement items were in accordance with the new leasing standards[29] - The company did not adjust comparable period data due to the new leasing standards[29] - The total equity reported is consistent across the financial statements[28]

Financial Performance - The company reported a total revenue of 1.2 billion RMB for the first half of 2021, representing a year-on-year increase of 15%[13]. - The gross profit margin for the first half of 2021 was 35%, compared to 30% in the same period last year, indicating improved cost management[13]. - The company's operating revenue for the first half of 2021 was ¥423,456,280.59, representing a 49.28% increase compared to ¥283,667,859.27 in the same period last year[19]. - The net profit attributable to shareholders for the same period was ¥103,289,867.09, up 22.25% from ¥84,489,424.69 year-on-year[19]. - The net cash flow from operating activities increased by 33.91%, reaching ¥82,730,108.47, compared to ¥61,780,118.72 in the previous year[22]. - The company has set a revenue guidance of 2.5 billion RMB for the full year 2021, reflecting a growth target of 20%[13]. - The company reported a total comprehensive income of CNY 103,289,867.09 for the first half of 2021[150]. - The total equity attributable to the parent company at the end of the reporting period was CNY 1,739,090,545.11[151]. Research and Development - Research and development expenses increased by 25% to 150 million RMB, focusing on new liquid crystal materials and technologies[13]. - R&D expenses increased by 58.21% year-on-year, totaling approximately ¥2,148.28 million, up from ¥1,357.90 million[56]. - The company applied for 35 new invention patents during the reporting period, with 28 patents granted, bringing the total to 457 applications and 179 granted[54]. - The company has developed over 300 types of OLED compounds, establishing a framework for OLED manufacturing technology[45]. - The company has developed a software system for mixed liquid crystal formulation, optimizing performance, quality, and cost, with complete independent intellectual property rights[50]. - The company is focusing on the development of high-performance liquid crystal materials for various applications, including flexible displays and smart sensors[58]. - The company has established a complete R&D system and a strong R&D team, focusing on market-oriented product planning and technological development[64]. Market Expansion and Strategy - The company plans to launch two new product lines in Q3 2021, targeting a market expansion of 10% in the next fiscal year[13]. - Market expansion efforts include entering Southeast Asia, with an expected revenue contribution of 5% by the end of 2021[13]. - The company is focusing on expanding its product offerings beyond liquid crystal materials, including opportunities in 5G modified polyimide and semiconductor materials[69]. - The company is exploring partnerships with local firms to enhance distribution channels and improve customer reach in emerging markets[102]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share within the next two years[102]. Supply Chain and Operations - The company has established partnerships with three new suppliers to enhance its supply chain resilience[13]. - The company has established a comprehensive supplier management system to ensure the stability and reliability of raw material supply[30]. - The production model is primarily order-based, utilizing an ERP management system for efficient production information management[31]. - The company has strengthened its supply chain management and R&D efforts, resulting in continuous growth in liquid crystal material shipment volume, sales revenue, and net profit during the reporting period[41]. Risks and Challenges - The management highlighted potential risks including supply chain disruptions and increased competition in the LCD market[13]. - The company faces risks related to technological upgrades and customer certification processes, which could impact future revenue growth[70]. Financial Position and Investments - The company's total assets at the end of the reporting period were ¥2,019,224,956.48, a 4.26% increase from ¥1,936,638,182.92 at the end of the previous year[20]. - Cash and cash equivalents decreased by 81.38% to 5,847.13 million RMB from 31,400.62 million RMB year-on-year, primarily due to the investment of idle funds in bank wealth management products during the reporting period[80]. - The company established a wholly-owned subsidiary, Zhejiang Bayi Space Advanced Materials Co., Ltd., with a registered capital of 48,000 million RMB, funded by additional capital from the company[83]. - The company reported a total of 111,720.27 million RMB in trading financial assets, an increase of 27,607.46 million RMB during the reporting period[86]. Shareholder Information - The largest shareholder, Zhao Lei, holds 19,657,052 shares, representing 20.38% of the total shares[119]. - The total number of shares held by the top ten shareholders includes significant stakes from various investment partnerships and individuals, with the top four shareholders collectively holding over 40%[119]. - The company reported a lock-up period extension for shares issued prior to the IPO, lasting six months[96]. - Shareholders holding more than 5% of shares are required to report any changes in their holdings to the company during their period of significant ownership[95]. Corporate Governance - The company did not propose any profit distribution or capital reserve transfer plan for the half-year period[88]. - The company has committed to not repurchase shares held by shareholders during the lock-up period[97]. - The report indicates that there were no new strategies or significant changes in market expansion or product development mentioned during the reporting period[116].

Financial Performance - Operating revenue rose by 54.92% to CNY 20,766.82 million year-on-year[7] - Net profit attributable to shareholders increased by 22.29% to CNY 4,560.25 million compared to the same period last year[7] - Basic earnings per share increased by 25.00% to CNY 0.50 per share[7] - Total operating revenue for Q1 2021 was CNY 207,668,179.67, an increase of 55% compared to CNY 134,046,584.24 in Q1 2020[24] - Net profit for Q1 2021 was CNY 56,169,513.07, compared to a net profit of CNY 45,149,360.39 in Q1 2020, representing a growth of 24%[24] - The company's operating revenue for Q1 2021 was CNY 207,668,179.67, a 55% increase from CNY 134,046,584.24 in Q1 2020[26] - The total profit for Q1 2021 was CNY 56,825,198.90, compared to CNY 45,509,381.70 in Q1 2020, reflecting an increase of 25%[25] Assets and Liabilities - Total assets increased by 4.68% to CNY 202,724.17 million compared to the end of the previous year[7] - Total assets as of March 31, 2021, amounted to CNY 2,012,788,595.32, an increase from CNY 1,936,756,925.41 at the end of 2020[22] - Total liabilities as of March 31, 2021, were CNY 275,822,350.89, compared to CNY 248,636,684.14 at the end of 2020, indicating a rise of 11%[22] - Total liabilities reached ¥248,935,023.03, down by ¥501,290.24 from the last reporting period[39] - Current liabilities reached approximately $218.70 million, with accounts payable constituting about $133.43 million[44] Cash Flow - Cash flow from operating activities surged by 135.90% to CNY 2,196.24 million year-to-date[7] - Net cash flow from operating activities for Q1 2021 was ¥24,904,078.97, a significant increase from ¥9,309,911.16 in Q1 2020, representing a year-over-year growth of approximately 167%[34] - Cash received from sales of goods and services in Q1 2021 was CNY 190,568,117.07, up from CNY 126,262,268.71 in Q1 2020, marking a 51% increase[29] - The company reported a net increase in cash and cash equivalents of ¥45,540,741.59 in Q1 2021, contrasting with a decrease of -¥710,817,695.70 in Q1 2020, showcasing a significant turnaround in cash management[35] Research and Development - Research and development expenses accounted for 4.79% of operating revenue, up by 0.03 percentage points[7] - Research and development expenses rose by 56.01% to ¥995.74 million, attributed to increased R&D investment and personnel costs[14] - Research and development expenses for Q1 2021 were CNY 9,957,436.41, compared to CNY 6,382,607.43 in Q1 2020, an increase of 56%[24] Shareholder Information - The total number of shareholders reached 8,109 by the end of the reporting period[10] - The largest shareholder, Zhao Lei, holds 20.38% of the shares, totaling 19,657,052 shares[10] Non-Recurring Gains and Losses - The company recognized a total of CNY 273.16 million in non-recurring gains and losses during the reporting period[8] Financial Standards and Reporting - The company implemented a new leasing standard effective January 1, 2021, which is not expected to have a significant impact on financial statements[41] - The company did not adjust comparative data for the new leasing standard, indicating a stable financial reporting approach[47]

2020 年年度报告 公司代码：688181 公司简称：八亿时空 北京八亿时空液晶科技股份有限公司 2020 年年度报告 1 / 192 2020 年年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真实、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。 二、 重大风险提示 公司已在本报告中描述可能存在的相关风险，敬请查阅本报告"第四节 经营情况的讨论与 分析"之"二、风险因素"。 三、 公司全体董事出席董事会会议。 四、 致同会计师事务所（特殊普通合伙）为本公司出具了标准无保留意见的审计报告。 五、 公司负责人赵雷、主管会计工作负责人张霞红及会计机构负责人（会计主管人员）谢惠声 明：保证年度报告中财务报告的真实、准确、完整。 六、 经董事会审议的报告期利润分配预案或公积金转增股本预案 公司 2020 年度利润分配预案为：拟以 2020 年度实施权益分派股权登记日登记的公司总股本 为基数，向全体股东每 10 股派发现金股利 5.38 元（含税），合计派发现金股利 51,902,481.53 元 （含税），占 2020 年度归属于上市公司股 ...

2020 年第三季度报告 公司代码：688181 公司简称：八亿时空 北京八亿时空液晶科技股份有限公司 2020 年第三季度报告 1 / 26 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 9 | 2020 年第三季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 3 / 26 单位：万元 币种：人民币 本报告期末 上年度末 本报告期末比上年度末增 减(%) 总资产 182,727.63 173,116.68 5.55 归属于上市公司 股东的净资产 165,019.70 155,196.04 6.33 年初至报告期末 （1-9 月） 上年初至上年报告期末 （1-9 月） 比上年同期增减(%) 经营活动产生的 现金流量净额 9,591.61 8,090.88 18.55 年初至报告期末 （1-9 月） 上年初至上年报告期末 （1-9 月） 比上年同期增减 （%） 营业收入 44,824.41 31,881.12 40.60 归属于上市公司 ...

Customer Concentration - The company's largest customer, BOE Technology Group, accounted for 69.47% of total revenue, with sales amounting to 197.06 million yuan during the reporting period [5]. - The company faced risks related to customer concentration, with sales to BOE amounting to CNY 197.056 million, accounting for 69.47% of total revenue [68]. - The company is actively expanding its customer base, including efforts to enter the supply chains of other major panel manufacturers, although the certification process remains lengthy and uncertain [68]. Financial Performance - The company's operating revenue for the first half of 2020 was CNY 28,366.79 million, representing a 38.24% increase compared to CNY 20,519.66 million in the same period last year [22]. - The net profit attributable to shareholders of the listed company reached CNY 8,448.94 million, a 46.90% increase from CNY 5,751.57 million year-on-year [22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 7,167.16 million, up 33.50% from CNY 5,368.58 million in the previous year [22]. - The net cash flow from operating activities was CNY 6,178.01 million, reflecting a 40.59% increase compared to CNY 4,394.23 million in the same period last year [22]. - The total assets at the end of the reporting period were CNY 179,612.57 million, a 3.75% increase from CNY 173,116.68 million at the end of the previous year [22]. - The net assets attributable to shareholders of the listed company were CNY 160,171.95 million, showing a 3.21% increase from CNY 155,196.04 million at the end of the previous year [22]. - The company's basic earnings per share increased by 11.39% to CNY 0.88 compared to the same period last year [23]. - Net profit attributable to shareholders grew by 46.90%, driven by revenue growth [24]. - Operating cash flow increased by 40.59%, reflecting improved sales collection [24]. - Revenue increased by 38.24% year-on-year, attributed to the expansion of domestic and international markets [23]. Research and Development - The company is focused on high-performance TFT mixed liquid crystal materials, which are critical for maintaining competitiveness in the evolving display technology market [4]. - Research and development expenses rose by 34.42%, although the R&D expenditure as a percentage of revenue decreased by 0.13 percentage points to 4.79% [24]. - The company has established a complete intellectual property system in the production of high-performance TFT liquid crystal materials [37]. - The company is actively pursuing R&D in OLED materials, leveraging its core technologies accumulated in the liquid crystal display materials field [44]. - The company has developed over 200 types of OLED compounds, establishing a framework for OLED manufacturing technology [44]. - The company has developed 61 types of intermediates and monomers for OLED materials, with DM0271 already in mass supply [49]. - The company has developed 8 types of intermediate materials for OLED displays, with a purity of 99.5% achieved during the optimization process [54]. - The company has completed the synthesis and purification research for 2,4-diphenyl-1,3,5-triazine OLED materials, achieving a purity of over 99.95% [54]. - The company has a total of 80 R&D personnel, accounting for 22% of the total workforce, with an average salary of 91,282.04 RMB [56]. - The R&D team includes 5 PhDs (6.25%), 21 Masters (26.25%), and 49 Bachelors (61.25%) [56]. Market Position and Strategy - The company has established a stable strategic partnership with BOE since 2015, with a significant increase in supply volume during the reporting period [5]. - The company has successfully achieved mass production of high-performance TFT liquid crystal materials, breaking the international monopoly [40]. - The company is a strategic supplier of TFT liquid crystal materials to BOE, a leading panel manufacturer in China, enhancing its market influence [40]. - The domestic liquid crystal display industry is rapidly developing, with increasing demand for related materials and a gradual rise in localization rates [37]. - The company has strengthened its market expansion efforts, maintaining rapid growth in liquid crystal material shipments, sales revenue, and net profit during the pandemic [42]. - The company has established a high-level R&D and production base for liquid crystal materials, enhancing its overall technology and manufacturing capabilities [66]. - The company is focused on attracting and cultivating high-quality R&D personnel to support future development in the electronic materials manufacturing industry [66]. Inventory and Assets - The company's inventory at the end of the reporting period was valued at 207.72 million yuan, representing 11.56% of total assets, with a provision for inventory impairment of 19.01 million yuan [7]. - The company's total current assets amounted to RMB 1,439,579,488.35, an increase from RMB 1,369,740,145.95 at the end of 2019 [120]. - Inventory levels rose to RMB 207,715,555.55, compared to RMB 146,732,746.74 at the end of 2019, representing an increase of about 41.5% [120]. - The company's fixed assets decreased to RMB 284,341,986.07 from RMB 294,005,065.81, showing a decline of approximately 3.6% [120]. Environmental Compliance - The company reported a significant focus on the development and sales of liquid crystal materials, which are not classified as heavily polluting industries [99]. - The company ensures that emissions from production processes meet standards through treatment systems for exhaust gases and wastewater [99]. - Solid waste generated during production is regularly handled by designated environmental service providers [99]. - The company employs third-party monitoring annually to ensure compliance with environmental standards for air, water, and noise pollution [99]. - The company has not reported any significant environmental pollution incidents related to its operations [99]. Shareholder Commitments - The company has committed to a share lock-up period of 36 months for major shareholders, prohibiting them from transferring or entrusting their shares during this time [85]. - Major shareholders must report any changes in their shareholdings to the company during their tenure as shareholders holding more than 5% [87]. - The company has established a 12-month lock-up period for other shareholders holding more than 5%, preventing them from transferring their shares [87]. - If the company's stock price falls below the issue price for 20 consecutive trading days within six months post-IPO, the lock-up period will be extended by six months [85]. - The company has confirmed that all commitments are being fulfilled as per the outlined schedule [85]. Financial Instruments and Accounting - The company adheres to the enterprise accounting standards, ensuring that financial reports reflect its financial status and operating results accurately [141]. - The financial statements are prepared based on the assumption of continuous operation, with no significant factors affecting the company's ability to continue operations identified [139]. - Financial instruments are recognized when the company becomes a party to the financial instrument contract [159]. - The company uses the expected credit loss model to account for impairment, calculating losses based on the present value of cash flow shortfalls [181]. - Financial assets are classified into three categories based on the business model and cash flow characteristics [162].

2020 年第一季度报告 公司代码：688181 公司简称：八亿时空 北京八亿时空液晶科技股份有限公司 2020 年第一季度报告 1 / 14 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 7 | | 四、 | 附录 8 | 2020 年第一季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、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、误导性陈述或者重大遗漏，并承担个别和连带的法 律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人赵雷、主管会计工作负责人张霞红及会计机构负责人（会计主管人员） 谢惠保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | 上年度末 | 本报告期末比上年度 | | | --- | --- | --- | --- | --- | | | | | 末增减(%) | | | 总资产 | 1,734,372,640.71 | 1,731,166 ...

Customer Concentration - The company's largest customer, BOE Technology Group, accounted for sales of CNY 308.73 million, representing 71.73% of total revenue[7]. - The top five customers contributed CNY 374.44 million, representing 87.00% of the total annual sales[100]. Financial Performance - The company reported a total revenue of 800 million yuan for the fiscal year 2019, reflecting a year-on-year growth of 25%[19]. - The company's operating revenue for 2019 was CNY 430,411,466.50, representing a 9.23% increase compared to CNY 394,032,422.43 in 2018[30]. - The net profit attributable to shareholders decreased by 3.68% to CNY 110,276,432.60 from CNY 114,489,091.11 in the previous year[30]. - The net profit after deducting non-recurring gains and losses fell by 12.12% to CNY 99,835,194.26[30]. - The gross margin improved to 35%, up from 30% in the previous year, due to cost optimization strategies[19]. - The basic earnings per share decreased by 3.80% to CNY 1.52 from CNY 1.58 in 2018[31]. - The company experienced a decline in cash flow from operating activities, with a net cash flow of CNY 99,244,889.36, down 2.84% from the previous year[30]. Research and Development - The R&D investment for new product development increased by 30%, totaling 120 million yuan in 2019[19]. - Research and development expenses accounted for 6.20% of operating revenue, an increase of 1.61 percentage points from 4.59% in 2018[31]. - The company achieved a total R&D investment of 26.68 million yuan, representing 6.20% of its operating revenue, with a year-on-year increase of 47.38%[69]. - The company has developed a complete proprietary core technology system for TFT mixed liquid crystal materials, achieving multiple technological breakthroughs[48]. - The company has developed over 200 OLED compounds and is focusing on enhancing the efficiency and lifespan of OLED materials[59]. - The company is currently developing a new type of transparent polyimide film for flexible OLED displays, with ongoing research to achieve leading performance levels[71]. Market Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2021[19]. - The company is actively seeking to expand its customer base among large panel manufacturers, but faces uncertainties due to stringent certification processes[9]. - The company plans to enhance its overseas market strategy, shifting focus from selling to peers to targeting downstream liquid crystal panel manufacturers[95]. - The company aims to optimize its talent structure to support future development, focusing on attracting and cultivating high-quality R&D personnel[83]. Inventory and Supply Chain - The company's inventory at the end of the reporting period was valued at CNY 146.73 million, constituting 8.48% of total assets, with a provision for inventory impairment of CNY 17.23 million[11]. - The company has established partnerships with three major suppliers to secure raw materials, ensuring a stable supply chain for production[19]. - The company has established a complete supplier selection and control system based on quality management requirements, ensuring stable and reliable raw material supply[44]. Technological Innovation - The company emphasizes the importance of continuous innovation in liquid crystal materials to meet market demands and avoid being outpaced by competitors[6]. - The company has implemented an ERP management system (NC system) to enhance production information management and improve supply chain responsiveness[45]. - The company has improved and stabilized the synthesis and purification processes of liquid crystal materials, increasing production capacity while reducing costs[66]. Dividend Policy - The proposed cash dividend for 2019 is CNY 3.60 per 10 shares, totaling CNY 34.73 million, which is 31.49% of the net profit attributable to shareholders[12]. - The cash dividend policy stipulates that if the company has distributable profits after covering losses and allocating statutory reserves, it will distribute at least 10% of the annual distributable profits in cash, and at least 30% of the average annual distributable profits over the last three years[145]. - The company has committed to maintaining a stable cash dividend policy, considering the opinions of independent directors and public shareholders[145]. Shareholder Structure - Shareholders holding more than 5% of the company's shares, including Liu Yanlan, are restricted from transferring or managing their shares for 12 months post-IPO[151]. - The lock-up period for major shareholders, including Zhao Lei and Liu Yanlan, will end on January 6, 2021, allowing for potential share sales[179]. - The company has a total of 10 major shareholders, with no reported related party relationships among them[192]. Compliance and Governance - The company has established a governance structure that complies with relevant laws and regulations to protect the rights of shareholders and creditors[165]. - The company has not encountered any major accounting errors or changes in accounting policies that would impact its financial statements[159]. - The company has not reported any significant financial occupation or collection progress issues during the reporting period[158].