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].

Revenue and Profitability - Revenue for Q3 2021 reached ¥65,158,527.73, an increase of 21.35% compared to the same period last year[7] - Net profit attributable to shareholders for Q3 2021 was ¥3,355,990.86, reflecting a growth of 50.89% year-over-year[7] - Basic earnings per share for Q3 2021 were ¥0.03, an increase of 50.89% compared to the same period last year[11] - Total operating revenue for Q3 2021 reached ¥234,469,670.40, an increase of 36.1% compared to ¥172,320,399.67 in the same period of 2020[36] - Net profit for Q3 2021 was ¥51,574,900.51, representing a 46.8% increase from ¥35,136,380.40 in Q3 2020[40] - The total comprehensive income attributable to the parent company was CNY 51,223,041.18, compared to CNY 35,136,380.40 in the same period last year, representing a growth of approximately 45.8%[42] - Basic earnings per share increased to CNY 0.45 from CNY 0.38, reflecting a growth of 18.4% year-over-year[42] Research and Development - R&D investment totaled ¥23,822,757.33 in Q3 2021, a significant increase of 165.01% compared to the same period last year[11] - R&D expenditure accounted for 36.56% of revenue in Q3 2021, up by 19.82 percentage points year-over-year[11] - Research and development expenses for the first three quarters of 2021 were ¥49,498,336.31, compared to ¥26,395,966.65 in the same period of 2020, marking an increase of 87.5%[36] Assets and Liabilities - Total assets as of the end of Q3 2021 were ¥2,313,616,767.66, representing an 8.28% increase from the end of the previous year[11] - The company's total assets increased to ¥2,313,616,767.66, compared to ¥2,136,723,663.26 in the previous year, reflecting a growth of 8.3%[32] - The total liabilities of the company reached ¥577,321,293.33, an increase from ¥492,281,964.80, reflecting a growth of 17.3%[32] - Non-current liabilities rose to ¥231,487,583.59, up from ¥145,649,327.30, indicating a significant increase of 58.8%[32] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥81,136,501.12, indicating a negative cash flow situation[11] - Cash inflow from operating activities totaled CNY 217,283,045.37, significantly up from CNY 92,707,347.47 in the previous year, marking an increase of 134.3%[45] - The net cash flow from operating activities was negative at CNY -81,136,501.12, compared to CNY -74,574,525.60 in the same period last year[45] - Cash inflow from investment activities was CNY 1,188,645,080.74, a substantial increase from CNY 62,173,260.27 year-over-year[45] - The net cash flow from investment activities improved to CNY 187,756,837.04, compared to a negative CNY -993,181,862.40 in the previous year[45] - The net cash flow from financing activities was CNY 73,914,502.36, down from CNY 1,061,792,673.99 in the same period last year[47] - The ending balance of cash and cash equivalents was CNY 682,741,718.10, compared to CNY 138,784,021.03 at the end of the same period last year[47] Shareholder Information - The company reported a total of 8,593 common shareholders at the end of the reporting period[18] - The top ten shareholders hold a significant portion of the company's shares, with the largest shareholder holding 5,931,200 shares, representing 5.17% of total shares[24] Financial Management - The company has not engaged in any financing or margin trading activities as per the report, indicating a conservative approach to capital management[24] - The company has not disclosed any new product developments or market expansion strategies in the current report[24] Current Assets - As of September 30, 2021, the company's total current assets amounted to RMB 1,679,424,424.49, slightly up from RMB 1,677,118,765.78 at the end of 2020, indicating a marginal growth in liquidity[27] - The cash and cash equivalents increased to RMB 735,868,138.16 from RMB 579,202,627.84, reflecting a growth of approximately 27% year-over-year[27] - Accounts receivable rose to RMB 484,046,304.96, up from RMB 409,873,913.32, representing an increase of about 18%[27] - Inventory levels increased significantly to RMB 222,953,516.32 from RMB 122,969,950.04, marking an increase of approximately 81%[27] - The company's financial assets held for trading decreased to RMB 130,168,082.19 from RMB 464,080,361.05, a decline of about 72%[27] - The company reported a significant increase in prepayments to RMB 10,423,427.54 from RMB 4,010,009.03, indicating a rise of approximately 160%[27]

Financial Performance - The company reported a total revenue of RMB 500 million for the first half of 2021, representing a year-on-year increase of 20%[19] - The net profit attributable to shareholders was RMB 100 million, up 15% compared to the same period last year[19] - The company achieved operating revenue of CNY 169,311,142.67, representing a 42.73% increase compared to the same period last year[26] - Net profit attributable to shareholders reached CNY 47,867,050.32, up 45.44% year-over-year[26] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 43,096,661.66, reflecting a 30.60% increase from the previous year[26] - Future guidance indicates a revenue target of RMB 1 billion for the full year 2021, reflecting a growth rate of 25%[19] - The company reported a significant increase in material costs and employee salaries, contributing to the rise in R&D expenses[62] - The company’s cash and cash equivalents increased by 52.77% to ¥884,846,216.78 from ¥579,202,627.84, attributed to the redemption of financial products[92] - The company’s financial expenses decreased significantly due to increased interest income during the reporting period[87] User Growth and Market Expansion - User data showed an increase in active users by 30%, reaching a total of 1 million active users[19] - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share by the end of 2022[19] - The company is exploring potential mergers and acquisitions to enhance its technology capabilities and market reach[19] Research and Development - The company has allocated RMB 20 million for research and development in advanced satellite navigation technologies[19] - Research and development expenses accounted for 15.16% of operating revenue, an increase of 0.49 percentage points year-over-year[26] - The company achieved a total R&D investment of ¥25,675,578.98, representing a 47.50% increase compared to the previous period's ¥17,406,748.54[61] - The number of R&D personnel increased to 139, representing 36.01% of the total workforce, up from 32.88% in the previous period[74] - The company is focusing on technological innovation and has invested in research and development to enhance its product capabilities and market competitiveness[43] Product Development and Technology - New product development includes a satellite communication device expected to launch in Q4 2021, projected to generate RMB 50 million in revenue[19] - The company is developing a low-orbit satellite communication antenna capable of automatic tracking and satellite communication, currently in the engineering development stage[68] - The company has developed multiple core technologies in satellite navigation, including high-performance anti-jamming microstrip array antenna technology and high-performance multi-channel frequency conversion processing technology, which are now in mass production[47] - The company is advancing in the development of high-precision timing technology, aiming for breakthroughs in timing algorithms and clock jitter smoothing[66] Risk Factors and Challenges - The company has identified several risk factors, including market competition and regulatory changes, which may impact future performance[19] - The company faced significant business risks due to uncertainties in overseas customer demand caused by the COVID-19 pandemic[85] - The penetration rate of shipborne satellite communication remains low, and future growth may be hindered if high-throughput satellite construction does not meet expectations[85] Shareholder Commitments and Governance - The company has committed to various shareholding restrictions related to its initial public offering, effective from July 31, 2020, to July 31, 2023[124] - Major shareholders, including those holding over 5%, have similar commitments regarding share transfers and management[138] - The company emphasizes its commitment to transparency and regulatory compliance in its shareholder agreements[141] - The commitments made by shareholders will remain effective as long as they hold shares in the company[161] Environmental Compliance - The company has implemented necessary environmental protection facilities, ensuring compliance with national and local environmental standards[119] - There are no reported administrative penalties due to environmental issues during the reporting period[119]

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 - 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 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].