成都盟升电子技术股份有限公司 独立董事关于第四届董事会第十二次会议所涉相关事项的 独立意见 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民 共和国证券法》（以下简称"《证券法》"）、《上市公司独立董事规则》《上 海证券交易所科创板股票上市规则》和《成都盟升电子技术股份有限公司章程》 （以下简称"《公司章程》"）的相关规定，我们作为成都盟升电子技术股份有 限公司（以下简称"公司"）第四届董事会独立董事，本着认真、严谨、负责的 态度，基于独立判断立场，就第四届董事会第十二次会议所涉相关事项发表独立 意见如下： 一、关于《成都盟升电子技术股份有限公司 2023 年半年度募集资金存放与 实际使用情况的专项报告》的议案 我们认为：公司编制的《2023 年半年度募集资金存放与实际使用情况的专 项报告》内容真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，公 司募集资金的存放和使用符合中国证券监督管理委员会、上海证券交易所关于上 市公司募集资金存放与实际使用的相关规定，不存在违规使用募集资金的行为， 不存在改变或变相改变募集资金用途和损害股东利益的情况。 综上，我们同意关于《成都盟升电子技术股份有 ...

Financial Performance - The company achieved operating revenue of RMB 478,897,605.37, an increase of 0.65% year-on-year[4]. - The net profit attributable to shareholders was RMB 25,988,151.88, a decrease of 80.67% year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 9,843,255.66, down 91.57% year-on-year[4]. - The decline in net profit was primarily due to macroeconomic impacts, project delays, and increased costs from material price hikes and operational expenses[4]. - The net cash flow from operating activities was CNY 41,071,701.55, a decrease of 47.47% compared to the previous year[27]. - The company's total assets increased by 4.44% to CNY 2,625,571,720.26 at the end of 2022[25]. - The net assets attributable to shareholders decreased by 2.51% to CNY 1,734,274,314.90 at the end of 2022[25]. - Basic earnings per share were CNY 0.23, down 80.51% from CNY 1.18 in 2021[26]. - The weighted average return on net assets decreased to 1.47%, down 6.31 percentage points from 2021[26]. - The gross margin for satellite navigation products was 53.98%, while for satellite communication products it was 29.62%, both showing a decline compared to the previous year[103]. - The overall gross margin for the company's main business decreased by 10.99 percentage points to 48.65%[103]. Research and Development - The R&D expenditure accounted for 16.75% of operating revenue, an increase of 3.60 percentage points compared to the previous year[26]. - R&D expenses totaled ¥80,237,579.84, an increase of 28.28% from ¥62,549,678.21 in the previous year[73]. - The company has developed multiple key core technologies in satellite navigation, with products now in mass production and contributing to national defense capabilities[139]. - The company is committed to continuous R&D investment to ensure technological innovation and maintain a competitive edge in the satellite application industry[49]. - The company has established a quality management system compliant with ISO9001:2008 and GJB 9001C-2017 standards, ensuring quality control throughout the product lifecycle[83]. - The company has initiated research in electronic countermeasure technology, leveraging its existing radio technology advantages and attracting industry professionals to enhance its capabilities[63]. Market Strategy and Expansion - The company plans to expand its product line in the electronic countermeasure field and increase investment in market development and technology[5]. - The company is focusing on the development of military electronic products in response to increasing demand from national defense modernization efforts[5]. - The company is actively pursuing market expansion and product development to enhance its competitive position in the industry[66]. - The company aims to leverage its R&D advancements to maintain a leading position in the domestic market[75]. - The company plans to enhance market responsiveness and transition from product marketing to brand marketing in the satellite navigation product sector[147]. - The company is focusing on expanding its electronic countermeasure business while exploring new applications in civilian products, supported by a recent plan to issue convertible bonds for research and production in this area[146]. Risks and Challenges - The company faced risks related to supply chain issues and project delivery delays, but its ongoing operational capability is not significantly at risk[5]. - The company faces risks related to core competitiveness, particularly in technology development and market responsiveness, which could impact long-term growth[88]. - Significant reliance on a few major clients for revenue poses a risk if relationships or demand change[90]. - The company has a high level of accounts receivable, which could affect cash flow if not collected timely, especially in a challenging economic environment[93]. - The company is experiencing increased operational risks from macroeconomic fluctuations and intensified market competition[97]. Corporate Governance and Management - The company approved the 2022 Restricted Stock Incentive Plan and its summary during the board meeting on April 6, 2022[173]. - The company plans to issue convertible bonds to unspecified targets, with the proposal approved on September 2, 2022[175]. - The company underwent a board and supervisory committee re-election during the reporting period, resulting in several new appointments[171]. - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to 8.7031 million RMB[170]. - The company has established a comprehensive talent training system, focusing on professional skills and leadership development to align with long-term strategic goals[189]. Product Development and Innovation - The company has successfully developed a complete series of satellite communication products covering airborne, shipborne, and vehicle-mounted platforms across mainstream communication frequency bands, making it one of the most comprehensive manufacturers in the industry[61]. - The company is developing a core product and equipment for civil aviation information systems, supporting the smart civil aviation infrastructure[65]. - The company has successfully developed a new wideband microstrip antenna that increases bandwidth by 20% by enhancing the dielectric substrate thickness[68]. - The company has developed a leading domestic technology for wireless angle measurement and distance measurement systems, specifically for fast-moving platforms[78]. - The company is focusing on enhancing the transmission performance of unmanned vehicle control links by researching anti-latency multipath fading technology[78]. Customer and Supplier Relations - The company has a stable customer base and has undertaken multiple key projects in satellite navigation and communication sectors[5]. - The company employs a strict supplier management process, ensuring that procurement products meet specified requirements and maintaining stable relationships with multiple suppliers to mitigate risks[44]. - The company has accumulated a strong customer base through high-quality products and services, establishing long-term stable project cooperation relationships[84]. Future Outlook - The company reported a significant increase in revenue, achieving a total of 1.5 billion in 2022, representing a year-over-year growth of 20%[164]. - The company has set a revenue guidance for 2023 at 1.65 billion, indicating a projected growth of 10%[160]. - New product launches are expected to contribute an additional 200 million in revenue in the next fiscal year[160]. - The company is exploring market expansion opportunities in Southeast Asia, targeting a 10% market share within the next two years[164].

Financial Performance - The company's operating revenue for Q1 2023 was ¥41,316,486.67, representing a year-on-year increase of 232.11%[5] - The net profit attributable to shareholders was -¥19,489,013.79, with a significant decrease in net profit excluding non-recurring gains and losses to -¥24,455,325.65[5] - The net cash flow from operating activities was -¥89,977,537.45, indicating cash outflow during the quarter[5] - Total operating revenue for Q1 2023 reached ¥41,316,486.67, a significant increase from ¥12,440,757.23 in Q1 2022, representing a growth of approximately 232.5%[19] - Net loss for Q1 2023 was ¥20,849,473.68, worsening from a net loss of ¥12,383,314.27 in Q1 2022[21] - The company reported a gross profit margin of approximately -49.3% in Q1 2023, compared to -101.1% in Q1 2022[19] - The company's management expenses for Q1 2023 were CNY 12,679,733.01, compared to CNY 3,822,666.57 in Q1 2022, indicating an increase of approximately 232%[30] - The company reported a significant increase in tax expenses, with tax and additional charges amounting to ¥2,896,956.30 in Q1 2023, compared to ¥217,537.82 in Q1 2022[20] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,513,092,949.08, down 4.28% from the end of the previous year[6] - The company's current assets totaled CNY 1,432,700,899.32, down from CNY 1,560,638,485.99 at the end of 2022, indicating a decrease of about 8.2%[15] - The total liabilities of the company as of March 31, 2023, were CNY 1,184,057,010.16, down from CNY 1,276,430,439.27 at the end of 2022, indicating a decrease of approximately 7.2%[16] - The total cash and cash equivalents at the end of Q1 2023 were CNY 384,471,942.97, down from CNY 588,688,662.88 at the end of Q1 2022[24] - The total assets as of March 31, 2023, amounted to CNY 1,706,165,547.17, a decrease from CNY 1,780,840,531.19 at the end of 2022[27] - The total liabilities decreased to CNY 215,681,006.65 from CNY 289,814,100.24 year-over-year[28] Cash Flow - Cash flow from operating activities in Q1 2023 was ¥47,934,632.28, compared to ¥30,203,273.39 in Q1 2022, showing an increase of approximately 58.5%[22] - The net cash flow from operating activities was -CNY 89,977,537.45, an improvement compared to -CNY 128,071,141.88 in the same period last year[24] - The net cash flow from investing activities was -CNY 88,616,619.36, an improvement from -CNY 158,391,418.22 in the previous year[24] - The company reported a net cash flow from financing activities of -CNY 8,914,923.87, compared to -CNY 39,649,256.48 in Q1 2022[24] - The total cash inflow from operating activities was 57,204,414.14 RMB, down from 79,859,223.87 RMB in Q1 2022, reflecting a decline of approximately 28.5%[33] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 6,570[11] - The largest shareholder, Chengdu Rongtou Innovation Investment Co., Ltd., held 28.87% of the shares, totaling 33,213,100 shares[11] Research and Development - Research and development expenses totaled ¥19,734,570.54, accounting for 47.76% of operating revenue, a decrease of 57.68 percentage points compared to the previous year[6] - Research and development expenses for Q1 2023 amounted to ¥19,734,570.54, up from ¥13,117,849.85 in Q1 2022, reflecting a year-over-year increase of about 50.5%[20] Market and Product Development - The increase in operating revenue was attributed to the delivery of previously delayed products and an increase in project deliveries during Q1[9] - The company has not reported any significant new product developments or market expansion strategies in the current quarter[14] Other Financial Metrics - Basic and diluted earnings per share for Q1 2023 were both -¥0.17, compared to -¥0.11 in Q1 2022[21] - The company recorded a credit impairment loss of -1,286.41 RMB during the quarter[31] - The company’s total comprehensive income for Q1 2023 was -2,178,044.71 RMB, compared to -1,911,555.99 RMB in Q1 2022[31] - The cash received from the sale of goods and services was 130,130.00 RMB, with no prior year data available for comparison[33]

证券代码：688311 证券简称：盟升电子 公告编号：2023-016 成都盟升电子技术股份有限公司 关于召开 2022 年度暨 2023 年第一季度 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。 一、说明会类型 成都盟升电子技术股份有限公司（以下简称"公司"）将于 2023 年 4 月 29 日在上海证券交易所（www.sse.com.cn）披露《成都盟升电子技术股份有限公司 2022 年年度报告》《成都盟升电子技术股份有限公司 2023 年第一季度报告》。 为加强与投资者的深入交流，使投资者更加全面、深入地了解公司情况，公司拟 以网络图文互动方式召开 2022 年度暨 2023 年第一季度业绩说明会，欢迎广大投 资者积极参与。公司现就 2022 年度暨 2023 年第一季度业绩说明会提前向广大投 资者征集相关问题，广泛听取投资者的意见和建议。 二、说明会召开的时间、地点 1 本次业绩说明会将于 2023 年 5 月 10 日（星期三）11:00—12:00 在上海证 券交易所"路演中心"（http: ...

成都盟升电子技术股份有限公司 投资者关系活动记录表 证券简称：盟升电子 证券代码：688311 编号：2022-003 | --- | --- | --- | --- | |------------------------------|---------------------------------|-------------------------------------------------------------------------------------------------------|-------| | | | | | | | 特定对象调研 | □分析师会议 | | | | □媒体采访 | 业绩说明会 | | | 投资者关系活动类别 | □新闻发布会 □路演活动 | | | | | □现场参观 | 电话会议 | | | | □其他 | （请文字说明其他活动内容） | | | 时间及参与单位名称 | 2022 年 5 月 10 日 | 10:00-11:00 投资者：参与了业绩说明会的线上投资者们 | | | 会议地点 | （ http://roadshow.sseinfo.com | ...

Company Overview - Chengdu Mingsheng Electronics Technology Co., Ltd. focuses on satellite application technology, specializing in the R&D, manufacturing, and sales of satellite navigation and communication terminal equipment [1] - Main products include satellite navigation terminals based on the BeiDou satellite system and satellite communication antennas and components [1] Financial Performance - In 2021, the company achieved a revenue of CNY 47,578.80 million, representing a growth of 12.42% year-on-year [2] - Net profit attributable to shareholders was CNY 13,443.18 million, a year-on-year increase of 25.58% [2] - By the end of 2021, total assets reached CNY 251,396.67 million, up 17.66% year-on-year [2] Challenges and Strategic Response - The company faced significant challenges in 2021 due to the ongoing impact of the COVID-19 pandemic and global economic uncertainties [2] - Despite these challenges, the company maintained stable growth and prepared for future business development during the "14th Five-Year Plan" period [2] - The business strategy was refined to focus on satellite navigation and communication while exploring electronic countermeasure business and new civilian applications [2] Recent Performance and Outlook - In Q1 2022, the company reported a revenue of CNY 1,244.08 million, a decline of 37.51% year-on-year, with a net profit of -CNY 1,242.68 million [3] - The decline in revenue and profit was attributed to reduced product order deliveries due to the pandemic [3] Employee Incentives - The company announced a stock incentive plan aimed at establishing a long-term incentive mechanism to attract and retain talent, aligning the interests of shareholders, the company, and core team members [4] - The employee stock ownership plan is designed to improve governance, enhance employee cohesion, and promote sustainable development [4]

Financial Performance - The company's operating revenue for Q3 2022 was ¥103,941,014.04, representing a year-on-year increase of 59.52%[7] - The net profit attributable to shareholders for Q3 2022 was -¥160,404.81, a decrease of 104.78% compared to the same period last year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2022 was -¥1,801,778.71, a decline of 295.73% year-on-year[7] - The basic earnings per share for Q3 2022 was -¥0.00, a decrease of 104.65% compared to the same period last year[11] - Net profit for the third quarter of 2022 was approximately ¥9.33 million, down from ¥51.57 million in the same quarter of 2021, indicating a decrease of about 81.91%[40] - The company reported a basic earnings per share of ¥0.09 for the third quarter of 2022, down from ¥0.45 in the same quarter of 2021, a decrease of about 80%[42] Research and Development - The total R&D investment in Q3 2022 was ¥28,816,850.98, an increase of 20.96% compared to the same period last year[11] - R&D investment accounted for 27.72% of operating revenue in Q3 2022, a decrease of 8.84 percentage points year-on-year[11] - Research and development expenses for the third quarter of 2022 were approximately ¥55.39 million, up from ¥49.50 million in the same quarter of 2021, representing an increase of about 11.67%[40] Assets and Liabilities - The company's total assets at the end of Q3 2022 were ¥2,486,148,357.79, a decrease of 1.11% from the end of the previous year[11] - The equity attributable to shareholders at the end of Q3 2022 was ¥1,716,039,961.99, down 3.53% from the end of the previous year[11] - The company's total liabilities as of the latest report were approximately ¥728.66 million, an increase from ¥693.08 million in the previous period, reflecting a growth of about 5.14%[35] - The total equity attributable to shareholders decreased to approximately ¥1.72 billion from ¥1.78 billion, a decline of about 3.14%[35] - The company’s long-term borrowings decreased to approximately ¥134.55 million from ¥149.70 million, a reduction of about 10.12%[35] Cash Flow - The company's cash and cash equivalents as of September 30, 2022, were approximately ¥456.32 million, down from ¥914.80 million at the end of 2021[28] - Cash flow from operating activities for the first three quarters of 2022 was approximately ¥157.14 million, compared to ¥190.62 million in the same period of 2021, a decrease of about 17.54%[42] - Operating cash inflow totaled $234,607,336.22, an increase from $217,283,045.37 in the previous year, reflecting a growth of approximately 14.5%[46] - Operating cash outflow amounted to $373,649,094.19, up from $298,419,546.49, indicating a rise of about 25.2%[46] - Net cash flow from operating activities was -$139,041,757.97, worsening from -$81,136,501.12 year-over-year[46] - The ending cash and cash equivalents balance was $451,873,862.28, down from $682,741,718.10, a decrease of approximately 33.7%[48] Inventory and Receivables - Accounts receivable increased to ¥631.69 million from ¥531.82 million year-over-year[28] - Inventory as of September 30, 2022, was ¥298.77 million, up from ¥167.73 million[32] Operating Costs - Total operating revenue for the first three quarters of 2022 was approximately ¥232.94 million, a slight decrease from ¥234.47 million in the same period of 2021, representing a decline of about 0.64%[36] - Total operating costs increased significantly to approximately ¥246.20 million in 2022 from ¥188.36 million in 2021, marking an increase of approximately 30.67%[36] Shareholder Information - The total number of common shareholders at the end of the reporting period was 6,226[21] - Chengdu Rongtou Innovation Investment Co., Ltd. holds 33,213,100 shares, accounting for 28.87% of total shares[21] Other Financial Metrics - The weighted average return on net assets for Q3 2022 was -0.01%, a decrease of 0.21 percentage points year-on-year[11] - The decline in net profit was attributed to increased domestic product localization rates and rising material costs, leading to a decrease in gross margin[18] - The company reported a total of 1,483.54 million in current assets, down from 1,703.78 million[32] - The company has a goodwill of ¥79.11 million, unchanged from the previous year[32] - The company’s total liabilities include accounts payable of ¥202.97 million, which decreased from ¥166.90 million[32] - Deferred income increased to approximately ¥78.82 million from ¥46.66 million, reflecting a growth of about 68.73%[35]

Financial Performance - The company achieved operating revenue of ¥128,997,743.14, a year-on-year decrease of 23.81%[5] - The net profit attributable to shareholders was ¥10,059,412.68, down 78.98% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥4,018,858.81, a decline of 90.67% year-on-year[5] - The company's operating revenue for the first half of 2022 was ¥128,997,743.14, a decrease of 23.81% compared to ¥169,311,142.67 in the same period last year[28] - The net profit attributable to shareholders of the listed company was ¥10,059,412.68, down 78.98% from ¥47,867,050.32 in the previous year[28] - The net cash flow from operating activities was -¥154,260,918.53, compared to -¥52,503,161.46 in the previous year, indicating a worsening cash flow situation[28] - The net assets attributable to shareholders of the listed company at the end of the reporting period were ¥1,711,392,961.60, a decrease of 3.79% from ¥1,778,873,481.25 at the end of the previous year[28] - Total assets at the end of the reporting period were ¥2,382,336,006.87, down 5.24% from ¥2,513,966,663.06 at the end of the previous year[28] - The basic earnings per share (EPS) was ¥0.09, a decline of 78.57% from ¥0.42 in the same period last year[33] - The weighted average return on equity decreased to 0.41%, down 2.46 percentage points from 2.87% year-on-year[33] Operational Challenges - The decline in revenue and profit was attributed to strict pandemic control measures affecting project progress and order fulfillment[5] - The company faced delays in project progress and order fulfillment due to strict pandemic control measures affecting operations[33] - The ongoing impact of the COVID-19 pandemic continues to pose significant business risks, particularly in the aviation sector[93] Research and Development - Research and development (R&D) expenses accounted for 20.60% of operating revenue, an increase of 5.44 percentage points year-on-year[32] - The company is currently working on 16 R&D projects, with a total expected investment of ¥182.81 million, of which ¥26.58 million has been invested in the current period and ¥55.68 million cumulatively[76] - The company has established a robust R&D system and team, fully mastering core technologies in satellite navigation and communication terminal equipment[43] - The company emphasizes independent R&D and innovation, with dedicated centers for satellite navigation and communication, ensuring a strong technical foundation for product development[49] - The company has achieved batch production for multiple advanced technologies, including high-precision frequency control technology and inertial navigation coupling processing technology, enhancing its product offerings in satellite navigation and timing equipment[11][12] Market Focus and Strategy - The company is focusing on expanding its electronic countermeasure market and has multiple ongoing research projects in this area[5] - Future demand for military electronic products is expected to increase due to advancements in national defense modernization and weaponry upgrades[5] - The company is focusing on expanding its application systems based on the Beidou satellite navigation system to enhance national security and economic safety[37] - The company is focusing on the development of a Ka/Ku dual-band antenna for mobile communication, which will allow flexible band switching in different operational areas[72] Risk Management - The report includes a detailed discussion of various risks the company may encounter in its operations[5] - The company faces significant risks related to core competitiveness, including reliance on customized product design and technology development[90] - High dependence on major customers, with sales to the top five customers representing a substantial portion of revenue, poses operational risks[90] - The company has a high proportion of accounts receivable, which could impact cash flow if not collected timely[90] Environmental and Compliance - The company has implemented necessary environmental protection facilities, ensuring compliance with national and local environmental standards[122] - The company has not faced any administrative penalties due to environmental issues during the reporting period[124] - The company has fulfilled all commitments related to the initial public offering, with a commitment period starting from July 31, 2020[127] Shareholder Commitments - The company has committed to fulfilling all public commitments made during this issuance and will accept social supervision[200] - The company will compensate investors for any losses caused by the failure to fulfill commitments[199] - The commitments made by the company regarding shareholding will remain effective as long as shares are held[161] - The company has established a structured approach to managing shareholder commitments and compliance with regulatory requirements post-IPO[141]

Financial Performance - The company achieved a net profit attributable to shareholders of RMB 134,431,782.79 for the year 2021, with a distributable profit of RMB 93,022,942.29 as of December 31, 2021[8]. - The proposed cash dividend is RMB 3.6 per 10 shares (including tax), totaling RMB 41,064,906.96 (including tax), which represents 30.55% of the net profit attributable to shareholders[8]. - The company's operating revenue for 2021 was approximately CNY 475.79 million, representing a 12.42% increase compared to CNY 423.23 million in 2020[31]. - The net profit attributable to shareholders for 2021 was approximately CNY 134.43 million, a 25.58% increase from CNY 107.05 million in 2020[31]. - The net cash flow from operating activities for 2021 was approximately CNY 78.19 million, up 13.17% from CNY 69.09 million in 2020[31]. - The company's total assets at the end of 2021 were approximately CNY 2.51 billion, a 17.66% increase from CNY 2.14 billion at the end of 2020[31]. - The weighted average return on equity for 2021 was 7.78%, a decrease of 2.88 percentage points from 10.66% in 2020[34]. - The basic earnings per share for 2021 was CNY 1.18, an increase of 8.26% compared to CNY 1.09 in 2020[34]. - The company reported a net profit of CNY 83.21 million in Q4 2021, contributing significantly to the annual profit growth[35]. - The net profit attributable to shareholders for Q2 2021 was CNY 46.95 million, showing strong quarterly performance[35]. Research and Development - Research and development expenses accounted for 13.15% of operating revenue in 2021, slightly down from 13.19% in 2020[34]. - The company has established a robust R&D system and team, ensuring continuous innovation and quality management in its product offerings[46]. - The R&D model focuses on independent development and innovation, with dedicated centers for satellite navigation and communication to enhance product design and technology[53]. - Total R&D investment reached ¥62,549,678.21, an increase of 12.06% compared to the previous year, with R&D expenses accounting for 13.15% of operating revenue[77]. - The company has a strong pipeline of ongoing projects, with several in the engineering development stage, indicating a commitment to innovation and market expansion[80]. - The company has focused on optimizing existing algorithms for satellite signal capture, significantly reducing signal acquisition time[85]. - The company is advancing technologies for low-complexity wireless image transmission systems, aiming to improve performance in complex environments[85]. Market and Business Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[31]. - The company aims to enhance its market competitiveness and profitability through the integration of satellite communication technologies[145]. - The company is focusing on market expansion strategies to increase its competitive edge[179]. - The company plans to enter the Asian market by Q1 2024, targeting a revenue contribution of $1 billion within the first year[200]. - The company is investing $200 million in R&D for new technologies aimed at enhancing user experience and product efficiency[200]. Operational Risks and Challenges - The company has detailed various operational risks in the report, which should be reviewed in the "Management Discussion and Analysis" section[5]. - The company faces significant operational risks due to high reliance on major clients, with the top five clients accounting for a substantial portion of revenue[100]. - There is a risk of inventory impairment if the company cannot effectively control costs or if there are significant fluctuations in raw material prices[101]. - The company is exploring international markets but faces challenges due to limited sales channels and understanding of foreign market practices[100]. - The company faces risks related to core competitiveness, including potential technology lag and the impact of personnel turnover on core technology protection[96]. Governance and Compliance - The company has a well-structured governance framework, including a board of directors and supervisory board, ensuring compliance with legal requirements[158]. - The company emphasizes the importance of information disclosure management to avoid violations and enhance transparency[158]. - The company actively engages with shareholders and investors through various channels, ensuring fair treatment and protection of their rights[161]. - The company has maintained compliance with governance regulations, with no significant discrepancies noted in its governance practices[161]. - The company’s governance practices have been verified by legal counsel, ensuring the legitimacy of the general meeting procedures[161]. Acquisitions and Investments - The company acquired 51% of Nanjing Yinghuo's equity and established a new subsidiary, Xingchen Ocean Communication Technology, with a registered capital of ¥50 million[119]. - The company invested 40 million yuan in Nanjing Yinghuo, obtaining a 51% stake after capital increase and share transfer[141]. - The company completed the acquisition of a smaller tech firm for $500 million, expected to enhance its product offerings and market reach[200]. Financial Position - The company's cash and cash equivalents increased by 57.94%, reaching 914,800,479.46 RMB[131]. - The total amount of equity investment by the company during the reporting period was 190.6492 million yuan[141]. - The total restricted assets amounted to 510,350,220.40 RMB, primarily due to long-term loan pledges[137]. - The company reported a significant improvement in the accuracy of output frequency due to the development of a new rubidium clock technology, enhancing precision in satellite navigation applications[71]. Future Outlook - The company's future plans and strategic developments are subject to investment risks and do not constitute a commitment to investors[12]. - The company plans to implement a flat management structure to improve operational efficiency and decision-making transparency[155]. - The company is targeting the low Earth orbit satellite system as a key future development area to stimulate various IoT industries[152].

Financial Performance - The company achieved a net profit attributable to shareholders of RMB 134,431,782.79 for the year 2021, with a distributable profit of RMB 93,022,942.29 as of December 31, 2021[8]. - The proposed cash dividend is RMB 3.6 per 10 shares (including tax), totaling RMB 41,064,906.96, which represents 30.55% of the net profit attributable to shareholders[8]. - The company's operating revenue for 2021 was approximately CNY 475.79 million, representing a 12.42% increase compared to CNY 423.23 million in 2020[31]. - The net profit attributable to shareholders for 2021 was approximately CNY 134.43 million, a 25.58% increase from CNY 107.05 million in 2020[31]. - The net cash flow from operating activities for 2021 was approximately CNY 78.19 million, up 13.17% from CNY 69.09 million in 2020[31]. - The company's total assets at the end of 2021 were approximately CNY 2.51 billion, an increase of 17.66% from CNY 2.14 billion at the end of 2020[31]. - The company's net assets attributable to shareholders at the end of 2021 were approximately CNY 1.78 billion, an increase of 8.17% from CNY 1.64 billion at the end of 2020[31]. - The basic earnings per share for 2021 were CNY 1.18, an increase of 8.26% compared to CNY 1.09 in 2020[34]. - The company reported a weighted average return on net assets of 7.78% in 2021, down from 10.66% in 2020[34]. Operational Risks and Governance - The company has detailed various operational risks in the report, which can be found in the "Management Discussion and Analysis" section[5]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[13]. - The company does not have any special arrangements for corporate governance[10]. - The company has not violated decision-making procedures for external guarantees[13]. - The company emphasizes that forward-looking statements do not constitute a substantive commitment to investors and advises caution regarding investment risks[12]. - The company has established a comprehensive quality management system compliant with ISO9001:2008 and other standards, ensuring quality control throughout the product lifecycle[93]. - The company has maintained compliance with governance regulations, with no significant discrepancies noted in its governance practices[161]. Research and Development - Research and development expenses accounted for 13.15% of operating revenue in 2021, slightly down from 13.19% in 2020[34]. - The company has established a robust R&D system and a strong research team, ensuring continuous innovation in satellite application technologies[46]. - The R&D model is based on independent development, with dedicated centers for satellite navigation and communication, focusing on market-driven product development[53]. - Total R&D investment reached ¥62,549,678.21, an increase of 12.06% compared to the previous year, with R&D expenses accounting for 13.15% of operating revenue[77]. - The company applied for 49 new intellectual property rights this year, with 41 granted, including 4 invention patents and 31 utility model patents[77]. - The company has focused on R&D in advanced technologies such as millimeter-wave power synthesis and low-complexity wireless image transmission systems[82]. Market and Product Development - The company plans to continue expanding its market presence and invest in new product development[31]. - The company plans to enhance its business strategy by focusing on satellite navigation and communication while exploring new applications in civilian products[43]. - The company is focusing on the satellite communication sector, which is still in its early stages in China, and has developed a range of products across various platforms[93]. - The company aims to expand its market presence in the civilian sector, leveraging technologies accumulated in the defense sector, particularly in satellite navigation and communication[152]. - The company is actively exploring low Earth orbit satellite systems, which are expected to stimulate various IoT industries and enhance market competitiveness[152]. Financial Management and Investments - The total liabilities increased by 51.21% due to new bank loans for fixed assets[134]. - The company reported a 79.23% increase in undistributed profits, amounting to 300,295,822.42 RMB[134]. - The company has a total of 510,350,220.40 RMB in restricted assets, primarily due to long-term loan pledges[137]. - The total amount of equity investment by the company during the reporting period was 190.6492 million yuan[141]. - The ongoing construction project in Chengdu has incurred a total investment of 457.448 million yuan, accounting for 94.02% of the budget[142]. Shareholder Engagement and Corporate Governance - The company actively engages with shareholders and investors through various channels, ensuring fair treatment and protection of their rights[161]. - The company held its first extraordinary general meeting of 2021 on May 6, 2021, with all resolutions passed without any objections[161]. - The company has established specialized committees, including an audit committee, nomination committee, compensation and assessment committee, and strategic committee[186]. - The company confirmed compliance with corporate governance and shareholder meeting resolutions[199]. - Minority shareholders had sufficient opportunities to express their opinions and their legal rights were adequately protected[199]. Challenges and Risks - The company faces risks related to core competitiveness, including potential failures in technology development and the impact of personnel changes on core technology protection[96]. - The company is exploring international markets but faces challenges due to limited sales channels and understanding of foreign market practices[100]. - The company is exposed to foreign exchange risks due to the presence of USD-denominated funds, which may impact its financial results[101]. - There is a potential risk of inventory impairment if the company cannot effectively control costs or if there are significant fluctuations in raw material prices[100].