Financial Performance - The net profit attributable to shareholders for 2020 was CNY 107,052,304.20, with a distributable profit of CNY 77,886,076.87 at year-end[8]. - The company's operating revenue for 2020 was CNY 423,231,843.69, representing a 49.52% increase compared to CNY 283,065,006.51 in 2019[32]. - The net profit attributable to shareholders for 2020 was CNY 107,052,304.20, a 46.53% increase from CNY 73,060,234.24 in 2019[32]. - The net cash flow from operating activities for 2020 was CNY 69,085,610.77, showing a significant increase of 157.07% compared to CNY 26,874,754.61 in 2019[32]. - The total assets at the end of 2020 were CNY 2,136,723,663.26, a 145.05% increase from CNY 871,956,708.48 at the end of 2019[32]. - The net assets attributable to shareholders at the end of 2020 were CNY 1,644,441,698.46, reflecting a 215.86% increase from CNY 520,623,206.81 at the end of 2019[32]. - The basic earnings per share for 2020 were CNY 1.09, up 26.74% from CNY 0.86 in 2019[32]. - The weighted average return on equity for 2020 was 10.66%, a decrease of 5.12 percentage points from 15.78% in 2019[32]. Dividend Distribution - The company distributed a cash dividend of CNY 0.35 per share, totaling CNY 40,134,500, which accounted for 37.49% of the net profit attributable to shareholders for the year[8]. - The board proposed no cash dividends or capital reserve transfers for the 2020 fiscal year, reflecting the company's current operational status and development stage[8]. - The company plans to submit the profit distribution proposal to the shareholders' meeting for approval[8]. - The cash dividend for the first half of 2020 accounted for 37.49% of the company's net profit attributable to shareholders for the year[165]. - The cash dividend per 10 shares was 3.5 RMB (including tax) in 2020, while no dividends were distributed in 2019 and 2018[166]. - The company has decided not to distribute profits for the 2020 fiscal year, pending approval from the shareholders' meeting[165]. Research and Development - R&D expenses accounted for 13.19% of operating revenue, an increase of 3.23 percentage points compared to the previous year[35]. - Research and development (R&D) expenses amounted to ¥55,818,877.12, representing a 98% increase compared to the previous year's ¥28,191,172.24[75]. - The company increased its R&D personnel from 92 to 118, with R&D staff now accounting for 34.50% of the total workforce[87]. - The total compensation for R&D personnel rose to CNY 20.84 million, up from CNY 13.67 million in the previous period[87]. - The company has developed several leading technologies, including the Beidou third-generation satellite navigation receiver and the Beidou/inertial navigation combination, both in the engineering development stage[78]. - The company has not capitalized any R&D expenses during the reporting period, maintaining a 0% capitalization rate[75]. Operational Risks and Governance - The company has detailed various operational risks in the report, emphasizing the importance of risk awareness for investors[6]. - The company has undergone a standard unqualified audit report from Lixin Certified Public Accountants, ensuring the accuracy of the financial statements[7]. - The company has a comprehensive governance structure in place, with all board members present at the board meeting[7]. - The company has not engaged in any non-operational fund occupation by controlling shareholders or related parties[10]. Market and Product Development - The company plans to continue expanding its market presence and invest in new product development[25]. - The company has engaged in strategic partnerships to enhance its technological capabilities and market reach[25]. - The company is focused on improving its operational efficiency and increasing shareholder value through sustainable growth strategies[25]. - The company focuses on satellite application technology, specifically in satellite navigation and communication terminal equipment, with a strong emphasis on military and civil applications[45]. - Major products include satellite navigation receivers, components, and satellite communication antennas, primarily used in defense, maritime, and aviation sectors[45]. - The company has established a robust R&D system and team, fully mastering core technologies in satellite navigation and communication, leading to high product quality and customer recognition[45]. Financial Position and Investments - The total amount of non-recurring gains and losses for 2020 was CNY 6.74 million, reflecting various non-operating activities[41]. - The fair value of equity investments at the end of the year was CNY 464.08 million, with a profit impact of CNY 4.32 million[43]. - The company’s foreign sales revenue was ¥6,244.01 million, accounting for 14.75% of total operating revenue[104]. - The company relies heavily on its top five customers, which accounted for 93.04% of total operating revenue, indicating a high concentration risk[99]. - The company reported a significant increase in financial expenses by 188.58% due to foreign exchange losses from a decline in the USD exchange rate[109]. - The company’s investment activities resulted in a net cash outflow of ¥725,376,389.53, primarily due to new financial product purchases and equity investments[109]. Shareholding and Compliance - The company has committed to a share lock-up period from July 31, 2020, to July 31, 2023, for major shareholders and related parties[169]. - The company has fulfilled all commitments related to the initial public offering during the reporting period[169]. - The company has no plans for cash profit distribution despite positive profits available for distribution in the reporting period[166]. - The company has established a framework for compliance with shareholding regulations set by the China Securities Regulatory Commission[182]. - The company’s commitments are designed to ensure market stability and protect investor interests post-IPO[179]. - The company will adhere to all relevant laws and regulations regarding shareholding and transfer restrictions[191].

Financial Performance - Operating revenue for the period was ¥19,908,993.92, representing a 33.20% increase year-on-year[12]. - Net profit attributable to shareholders was ¥916,839.77, a significant recovery from a loss of ¥6,011,201.96 in the same period last year[12]. - Basic earnings per share were ¥0.01, compared to a loss of ¥0.07 per share in the same period last year[12]. - The total profit for Q1 2021 was CNY 1,834,361.88, a significant turnaround from a loss of CNY 4,806,194.26 in the same period last year[27]. - Net profit for Q1 2021 was CNY 916,839.77, a significant recovery from a net loss of CNY 6,011,201.96 in Q1 2020[49]. - The total comprehensive income for Q1 2021 was CNY 916,839.77, compared to a comprehensive loss of CNY 6,011,201.96 in Q1 2020[51]. Cash Flow - The net cash flow from operating activities was -¥15,027,198.93, an improvement from -¥20,451,825.18 in the previous year[12]. - Cash inflow from operating activities totaled 39,276,338.99 RMB, up from 29,142,888.31 RMB in the same quarter last year, representing an increase of about 35%[57]. - Cash outflow from operating activities increased to 54,303,537.92 RMB, compared to 49,594,713.49 RMB in the previous year, reflecting a rise of approximately 9%[57]. - The net cash flow from investing activities was -86,816,811.53 RMB, worsening from -23,971,334.86 RMB year-over-year[59]. - The net cash flow from financing activities improved to 72,278,336.77 RMB, a substantial improvement from -4,906,281.26 RMB in the previous year[59]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥2,168,064,086.58, an increase of 1.47% compared to the end of the previous year[12]. - Total current assets increased to $1,694,207,262.09 from $1,677,118,765.78, reflecting a growth of approximately 1.8%[35]. - Total non-current assets rose to $473,856,824.49 from $459,604,897.48, marking an increase of about 3.2%[35]. - Total liabilities rose to $522,705,548.36 from $492,281,964.80, reflecting an increase of approximately 6.2%[37]. - Total current liabilities decreased to $296,070,342.96 from $346,632,637.50, a reduction of approximately 14.6%[37]. Shareholder Information - The total number of shareholders at the end of the reporting period was 8,365[18]. - The largest shareholder, Chengdu Rongtou Innovation Investment Co., Ltd., held 28.96% of the shares[18]. Research and Development - Research and development expenses accounted for 45.76% of operating revenue, a decrease of 9.13 percentage points from 54.89%[12]. - Research and development expenses for Q1 2021 amounted to CNY 9,109,734.51, an increase from CNY 7,414,138.75 in Q1 2020, reflecting a growth of approximately 22.9%[46]. Financial Position - Long-term borrowings increased by 81.82% to CNY 180,000,000.00 from CNY 99,000,000.00, attributed to new loans for fixed asset investments[27]. - Cash and cash equivalents increased to $394,757,972.25 from $266,894,676.79, showing a growth of approximately 47.8%[41]. - The company reported a total of ¥3,083,405.12 in non-recurring gains and losses for the period[16].

Financial Performance - Operating revenue for the first nine months was ¥172,320,399.67, representing a 42.00% increase compared to the same period last year[18]. - The net profit attributable to shareholders of the listed company was ¥35,136,380.40, showing an increase of 58.66% year-on-year[18]. - Basic earnings per share for the period was ¥0.38, up 46.15% from ¥0.26 in the previous year[20]. - The total comprehensive income for the first nine months of 2020 was ¥172,320,399.67, compared to ¥121,355,135.05 in the same period of 2019, marking a 42% increase[56]. - Net profit for the first nine months of 2020 was ¥35,136,380.40, a 58.66% increase from ¥22,145,470.82 in the previous year, driven by higher revenue[36]. - Total revenue for Q3 2020 reached ¥53,696,187.34, a 33.5% increase compared to ¥40,250,457.23 in Q3 2019[56]. - Net profit for Q3 2020 was ¥2,224,104.85, compared to ¥2,287,278.38 in Q3 2019, reflecting a slight decrease[59]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,991,263,881.23, an increase of 128.37% compared to the end of the previous year[18]. - Total liabilities increased to ¥421,387,211.58 from ¥351,333,501.67, representing a growth of about 19.9%[48]. - The company's equity attributable to shareholders rose to ¥1,569,876,669.65, up from ¥520,623,206.81, reflecting a substantial increase of approximately 201.5%[48]. - As of September 30, 2020, total current assets amounted to ¥1,626,446,302.36, a significant increase from ¥576,441,070.83 in the previous year[45]. - Total assets amounted to ¥1,673,049,843.44, an increase from ¥612,445,863.09 year-over-year[54]. - Total liabilities reached ¥173,044,649.14, up from ¥124,053,940.33 in the previous year[54]. Cash Flow - The net cash flow from operating activities for the first nine months was -¥74,574,525.60, worsening from -¥42,112,264.85 in the same period last year[18]. - Cash inflow from operating activities totaled 92,707,347.47 RMB, while cash outflow was 167,281,873.07 RMB, resulting in a net cash outflow of 74,574,525.60 RMB[71]. - The net cash flow from financing activities was 1,061,792,673.99 RMB, a significant improvement from 92,904,000.99 RMB in the same period of 2019[74]. - The cash flow from operating activities showed a net outflow of 35,952,026.55 RMB in the third quarter of 2020, contrasting with a net inflow of 5,339,741.00 RMB in the same quarter of 2019[76]. Research and Development - Research and development expenses accounted for 15.32% of operating revenue, a decrease of 0.75 percentage points compared to the previous year[20]. - Research and development expenses rose by 35.31% to ¥26,395,966.65, indicating increased investment in R&D activities[36]. - Research and development expenses for Q3 2020 were ¥8,989,218.11, compared to ¥7,105,193.77 in Q3 2019, indicating a 26.5% increase[56]. Shareholder Information - The total number of shareholders at the end of the reporting period was 9,052[26]. - The company reported government subsidies of ¥1,113,400.00 for the year-to-date period[20]. Investment Activities - The company reported a significant increase in cash outflow for investment activities, totaling 1,055,355,122.67 RMB, compared to 176,927,932.00 RMB in the previous year[74]. - The company received 1,072,888,740.00 RMB from investment activities, a notable increase compared to 84,300,000.00 RMB in the previous year[74]. Strategic Initiatives - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[60]. - The company is focusing on strategic initiatives for market expansion and new product development, although specific details were not provided in the report[64].