证券代码：688368 证券简称：晶丰明源 上海晶丰明源半导体股份有限公司投资者关系活动记录表 编号：2022-005 | --- | --- | --- | |-------------------------|------------------------------------------|---------------------------------------------------------| | 投资者关系活动 | ■特定对象调研(电话调研 | ) □分析师会议 | | 类别 | □媒体采访 □业绩说明会 | | | | □新闻发布会 □路演活动 | | | | □现场参观 □其他 | | | 参与单位名称及 人员姓名 | 详见附件 | | | 时间 2022 | 年 5 月 24 日 | 10：00-11：20 | | | 2022 年 5 月 17 日 10： | 00-11：00 | | | 2022 年 5 月 30 日 | 15：00-16：00 | | | 2022 年 5 月 31 日 16：00-17 | ： 00 | | 地点 / | | | | 上市公司接待人 | 董 ...

证券代码：688368 证券简称：晶丰明源 上海晶丰明源半导体股份有限公司投资者关系活动记录表 编号：2022-006 | --- | --- | --- | --- | |----------------------------|--------------------------------|-------|-------------------------------------------------------------------------------------| | 投资者关系活动 \n类别 \n | □媒体采访 \n□现场参观 | | ■特定对象调研 □分析师会议 \n□业绩说明会 \n□新闻发布会 □路演活动 \n■其他（电话调研） | | 参与单位名称及 | 详见附件 | | | | | | | | | 人员姓名 时间 2022 | 年 6 月 10 日 | | 10：30-11：30 | | | 2022 年 6 月 14 日 | | 13： 30-14：30 | | | 2022 年 6 月 15 日 | | 10：00-11：00 （电话调研） | | | 2022 年 6 月 ...

Financial Performance - The company reported a total revenue of RMB 500 million for the first half of 2022, representing a year-on-year increase of 25%[14]. - The company reported a sales revenue of 591.5 million RMB for the first half of 2022, a decrease of 44.49% compared to the same period last year[22]. - The net profit attributable to shareholders was -61.9 million RMB, down 118.44% year-over-year, while the net profit excluding non-recurring gains and losses was -103.4 million RMB, a decline of 137.69%[22]. - The basic earnings per share were -0.99 RMB, a decrease of 118.20% compared to 5.44 RMB in the same period last year[21]. - The company reported a significant decrease in accounts payable, down 46.20% to RMB 99.06 million, due to reduced procurement from suppliers during the reporting period[79]. - The company reported a total comprehensive loss of approximately CNY 61.66 million for the first half of 2022, compared to a comprehensive income of CNY 349.89 million in the same period of 2021[171]. Research and Development - The company is investing RMB 50 million in R&D for new semiconductor technologies, aiming to enhance product performance and efficiency[14]. - Research and development expenses accounted for 31.37% of operating revenue, an increase of 20.29 percentage points year-over-year[21]. - The company reported a total R&D expenditure of ¥185,533,360.16, representing a 57.22% increase compared to ¥118,011,780.15 in the previous year[38]. - The company added 31.67% more R&D personnel, increasing the total to 316 employees, which contributed to the rise in R&D costs[39]. - The company is developing a series of high-performance DC-DC power management chips, with a total investment of RMB 25,000 million, and has invested RMB 6,848.92 million to date[43]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share by the end of 2023[14]. - Future guidance estimates revenue growth of 30% for the full year 2022, driven by increased demand in the semiconductor market[14]. - The company plans to enhance market promotion efforts for AC/DC power chips and high-current DC/DC power chips to accelerate the development of its "second curve" business[66]. - The company is focusing on developing a high-power factor power supply chip with a total investment of RMB 4,000 million, having invested RMB 2,671.58 million so far[42]. Risks and Challenges - The management highlighted potential risks including supply chain disruptions and market competition, with strategies in place to mitigate these risks[14]. - The company faces risks related to product development failures in new AC/DC and DC/DC power management chip areas[64]. - The company is experiencing a risk of inventory overhang, which may impact short-term performance as it works to reduce inventory levels[68]. Cash Flow and Financial Position - The company maintains a strong cash position with RMB 200 million in cash reserves, providing flexibility for future investments[14]. - The company's cash flow from operating activities shows a net outflow of approximately ¥345.4 million, a decline of 234.76% compared to a net inflow of ¥256.3 million in the previous year[70]. - The company's short-term borrowings increased by 96.77% to approximately ¥400.9 million, reflecting a need for additional short-term liquidity[78]. - The company's cash inflow from investment activities totaled 1,822,011,073.43 RMB, compared to 1,115,626,846.58 RMB in the previous year, indicating a significant increase[181]. Shareholder and Stock Information - The company plans to repurchase shares if the stock price falls below the audited net asset value per share from the previous fiscal year[107]. - The company has committed to stabilizing its stock price for three years following its IPO on the Sci-Tech Innovation Board[108]. - The company will stop paying salaries and dividends to executives who fail to fulfill stock price stabilization obligations[108]. - The company has established a commitment to publicly disclose any non-compliance with share transfer restrictions and apologize to shareholders and the public[101]. Product Development and Innovation - New product launches are expected to contribute an additional RMB 100 million in revenue for the second half of 2022[14]. - The company has achieved significant advancements in smart LED lighting technology, including features like no flicker and low standby power consumption[34]. - The company launched its first domestic 10-phase digital control power management chip BPD93010, which is expected to be widely used in PCs, servers, data centers, and base stations[56][60].

Financial Performance - In Q3 2022, the company reported a revenue of CNY 215.08 million, a decrease of 71.67% compared to the same period last year[5]. - The net profit attributable to shareholders was a loss of CNY 138.87 million, down 158.40% year-on-year[5]. - The net profit excluding non-recurring gains and losses was a loss of CNY 167.40 million, a decline of 171.84% compared to the previous year[5]. - For the first three quarters of 2022, total revenue reached CNY 807 million, a decrease of 55.79% year-on-year[10]. - Operating revenue decreased by 71.67% in the current reporting period, and by 55.79% year-to-date, primarily due to economic downturn and reduced demand[19]. - Net profit attributable to shareholders decreased by 158.40% in the current reporting period and by 135.01% year-to-date, influenced by sales volume decline and price adjustments[19]. - Total revenue for the first three quarters of 2022 was CNY 806,579,663.38, a decrease of 55.8% compared to CNY 1,824,620,779.37 in the same period of 2021[28]. - Operating profit for Q3 2022 was a loss of CNY 205,900,398.62, compared to a profit of CNY 649,061,856.01 in Q3 2021[29]. - Net profit for Q3 2022 was a loss of CNY 200,753,392.89, compared to a profit of CNY 600,937,589.04 in Q3 2021[30]. - Basic earnings per share decreased to -3.21 CNY from 9.28 CNY year-over-year[31]. - Basic earnings per share for Q3 2022 were CNY -2.31, compared to CNY 8.86 in Q3 2021[39]. Assets and Liabilities - The company’s total assets as of September 30, 2022, were CNY 2.65 billion, down 5.32% from the end of 2021[10]. - Total assets as of Q3 2022 were CNY 2,901,129,752.77, down from CNY 2,939,600,761.99 at the end of Q3 2021[37]. - Total liabilities as of Q3 2022 were CNY 1,023,232,775.36, compared to CNY 895,663,519.60 in the same period of 2021[27]. - Total liabilities increased to CNY 1,082,815,547.42 in Q3 2022 from CNY 901,071,705.65 in Q3 2021[37]. - The company's total current assets decreased to 1,395,018,009.75 CNY from 1,931,765,270.23 CNY at the end of the previous year[35]. - Long-term equity investments increased significantly to ¥154,492,452.07 from ¥17,821,252.36[25]. - The company's inventory as of September 30, 2022, is ¥348,467,533.34, down from ¥390,839,450.51[25]. - The company reported a significant increase in short-term borrowings, rising to CNY 509,281,093.65 from CNY 203,749,032.69 in the previous year[27]. Research and Development - The company increased R&D investment to CNY 116.23 million in Q3 2022, a rise of 36.60% year-on-year[6]. - R&D investment accounted for 42.83% of operating revenue in the current reporting period, reflecting a significant increase in R&D expenses[19]. - Research and development expenses for Q3 2022 were CNY 301,763,467.22, an increase from CNY 203,099,805.75 in Q3 2021[29]. - Research and development expenses for the first three quarters of 2022 amounted to CNY 189,968,378.18, slightly up from CNY 186,547,414.01 in the same period of 2021[37]. - The company increased its workforce by 28.68% year-over-year, reaching 525 employees, including 347 in R&D, with R&D expenses rising to 302 million RMB, a 48.58% increase year-over-year[14]. Cash Flow and Investments - The company reported a net cash flow from operating activities decrease of 175.14% year-to-date, attributed to lower revenue and reduced cash receipts[19]. - Cash flow from operating activities generated a net outflow of -382,624,793.02 CNY, down from a net inflow of 509,231,966.58 CNY in the same period last year[33]. - Cash inflow from investment activities was 2,202,517,480.17 CNY, compared to 1,926,840,661.87 CNY in the previous year[33]. - The net cash flow from financing activities increased to 166,867,347.99 CNY from 120,024,521.92 CNY year-over-year[33]. - The company reported a significant decrease in cash received from sales of goods and services, totaling 738,162,064.69 CNY compared to 1,869,170,350.36 CNY in the prior year[32]. - Cash received from sales and services in the first three quarters of 2022 was 790,335,850.75, a decrease from 1,771,803,042.14 in the same period of 2021[40]. - Cash paid for purchasing goods and services was 895,537,862.26 in 2022, down from 977,572,003.10 in 2021[40]. - The cash and cash equivalents at the end of the period totaled 346,263,164.81 CNY, up from 317,596,123.84 CNY in the previous year[34]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 6,347[21]. - The top shareholder, Hu Liqiang, holds 16,564,500 shares, representing 26.33% of total shares[21]. - The top 10 shareholders hold a significant portion of shares, with the top three shareholders alone accounting for 71.77% of total shares[21]. - The company has no pledged, marked, or frozen shares among its top shareholders[21]. - The total number of preferred shareholders is 0, indicating no preferred stock issued[21]. Operational Strategy - The company has not reported any significant changes in its operational strategies or market expansion plans during the reporting period[24]. - The company is actively communicating with suppliers to potentially reduce raw material prices in Q4 2022[14]. - Management expenses increased by 22.43% year-over-year, reflecting the impact of workforce expansion and increased operational costs[14].

Financial Performance - The company achieved a total revenue of RMB 2.30 billion in 2021, representing a year-on-year increase of 108.75%[20] - Net profit attributable to shareholders reached RMB 677.42 million, up 883.72% compared to the previous year[20] - The net profit after deducting non-recurring gains and losses was RMB 578.51 million, an increase of 1,993.67% year-on-year[20] - The company's total assets as of December 31, 2021, amounted to RMB 2.80 billion, reflecting a growth of 72.19% from the previous year[22] - The weighted average return on equity increased to 41.24%, up 35.48 percentage points from the previous year[22] - The company reported a comprehensive gross profit margin of 47.93%, an increase of 22.48 percentage points from 2020[88] - The net profit for the year reached CNY 710,837,260.40, marking a significant increase of 919.12% year-on-year[85] - Operating costs increased to CNY 1,198,898,149.94, a rise of 45.81% compared to the previous year[85] - The company experienced a net cash flow from operating activities of CNY 505,231,834.50, a significant improvement from a negative cash flow in the previous year[85] Dividend and Profit Distribution - The company plans to distribute a cash dividend of RMB 40 per 10 shares, totaling approximately RMB 248,120,320, which represents 36.63% of the net profit attributable to shareholders for 2021[5] - The parent company's distributable profit as of December 31, 2021, is RMB 806,029,089.66, while the consolidated net profit for 2021 is RMB 677,420,694.85[174] - The company strictly adheres to profit distribution policies, ensuring clarity in dividend standards and compliance in decision-making processes[175] Research and Development - R&D expenses for AC/DC power chips increased by 283.38% to 93.98 million yuan, while total R&D expenses rose by 89.67% to 298.91 million yuan in 2021[43] - The total R&D expenditure for the year was approximately ¥298.91 million, representing an increase of 89.67% compared to the previous year's ¥157.59 million[58] - The company is focused on expanding its product lines and enhancing its technological capabilities through increased R&D investment and talent acquisition[59] - The company is currently developing several projects, with a total expected investment of ¥73 million and cumulative investment of approximately ¥20.34 million[63] - The company is focused on enhancing its R&D efforts in high-current DC/DC products, aiming to provide comprehensive solutions for CPU/GPU applications and secure customer orders through successful client validation[132] Product Development and Sales - The sales revenue of smart LED lighting driver chips surged to 1,063.53 million yuan, marking a 162.17% increase year-on-year[33] - The sales revenue of AC/DC power chips skyrocketed to 85.78 million yuan, reflecting a staggering growth of 651.94%[35] - The company successfully completed the verification of the AC/DC series new products, which have been introduced to the market with positive results[32] - The company launched two phases of restricted stock incentive plans, incurring expenses of RMB 156 million related to equity incentives[23] - The company introduced 61 new smart LED lighting driver products in 2021, achieving a sales volume growth of 81.15% year-over-year, with smart products accounting for 46.20% of total revenue, up from 36.79% in 2020[36] Market Position and Strategy - The company operates under an Integrated Device Manufacturer (IDM) model, covering all aspects of integrated circuit production[11] - The analog chip market is projected to grow at a CAGR of 8.20% from 2020 to 2025, reaching $67.7 billion by 2021[49] - The global power management chip market is expected to reach $56.5 billion by 2026, with a CAGR of 10.7% from 2018 to 2026[50] - The company aims to achieve advanced domestic technology levels in its ongoing projects, enhancing its competitive edge in the market[63] - The company is focused on domestic substitution in its AC/DC power chip business, targeting significant breakthroughs with major clients within a three-year window[127] Risk Management - The company has detailed various risks it may face in the "Management Discussion and Analysis" section of the report[4] - The company faces risks related to rapid technological upgrades and potential product development failures, which it aims to address through strategic partnerships and continuous R&D investment[71] - The company has strengthened supply chain management and increased strategic partnerships to ensure product supply amid tight upstream capacity[32] Corporate Governance and Management - The company has established a board of directors consisting of 7 members, including 3 independent directors, to enhance shareholder value and oversee company affairs[188] - The company has implemented multiple restricted stock incentive plans during the reporting period to align the interests of shareholders, the company, and core team members[189] - The company has maintained effective internal controls over all significant aspects of financial and non-financial reporting during the reporting period[186] - The company has revised its internal control systems and governance mechanisms in response to changes in the external operating environment[186] Employee Development - The company emphasizes employee training, focusing on professional skills and management capabilities to enhance employee competency and career development[173] - The company does not engage in labor outsourcing, focusing on internal employee development and training[173] - The total number of employees in the parent company and major subsidiaries is 427, with 353 in the parent company and 74 in subsidiaries[170] Environmental and Social Responsibility - The company has relocated to a new office designed for energy efficiency, utilizing smart lighting systems to significantly reduce daily electricity consumption and carbon emissions[193] - The company has donated a total of 1.5 million RMB for various charitable activities, including 1 million RMB for flood relief efforts in Henan and 150,000 RMB to Zhejiang University for talent development[198]

Financial Performance - The company reported a revenue of CNY 301,841,864.23 for Q1 2022, a decrease of 25.93% compared to the same period last year[4]. - The net profit attributable to shareholders was CNY -11,479,192.95, representing a decline of 116.60% year-over-year[5]. - The net profit after deducting non-recurring gains and losses was CNY -36,468,951.10, down 156.29% from the previous year[5]. - Total operating revenue for Q1 2022 was ¥301,841,864.23, a decrease of 26.0% compared to ¥407,514,538.24 in Q1 2021[29]. - Net profit for Q1 2022 was -¥11,479,192.95, a significant decline from a net profit of ¥73,119,388.12 in Q1 2021[30]. - Total comprehensive income for Q1 2022 was CNY 13,238,945.97, compared to CNY 66,579,841.64 in Q1 2021, reflecting a significant decline[41]. Cash Flow - The company's cash flow from operating activities was CNY -293,729,698.94, a decrease of 1,472.33% compared to the same period last year[4]. - The net cash flow from operating activities decreased by 1,472.33%, mainly due to reduced sales receipts and increased payments for goods and employee compensation[13]. - Cash flow from operating activities showed a net outflow of -¥293,729,698.94, contrasting with a net inflow of ¥21,403,658.96 in Q1 2021[34]. - The company reported a total cash outflow from operating activities of CNY 616,521,785.75 in Q1 2022, compared to CNY 336,153,805.43 in Q1 2021, indicating an increase of approximately 83.5%[42]. - Cash inflow from investment activities was ¥1,005,429,428.72, compared to ¥474,071,028.75 in the previous year, marking a substantial increase[34]. - Cash inflow from investment activities in Q1 2022 was CNY 1,001,911,116.53, up from CNY 469,320,281.80 in Q1 2021, representing an increase of approximately 113.4%[42]. Research and Development - Research and development expenses totaled CNY 86,170,679.39, an increase of 66.57% year-over-year, accounting for 28.55% of revenue, up 15.86 percentage points[5]. - Total R&D investment increased by 66.57%, driven by an increase in personnel for AC/DC and DC/DC product development and related stock-based compensation expenses[13]. - Research and development expenses rose to ¥86,170,679.39, an increase of 66.7% compared to ¥51,732,958.65 in Q1 2021[29]. - Research and development expenses for Q1 2022 were ¥54,096,863.39, an increase of 16.2% compared to ¥46,448,445.52 in Q1 2021[39]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 7,437[15]. - The top shareholder, Hu Liqiang, holds 16,564,500 shares, accounting for 26.70% of the total shares[15]. - The second-largest shareholder, Xia Feng, holds 15,115,500 shares, representing 24.37% of the total shares[15]. - The company plans to grant 732,000 restricted stocks at a price of 86.00 CNY per share as part of its 2021 incentive plan[17]. - The company intends to grant 1,155,376 restricted stocks at a price of 113.80 CNY per share under its 2022 incentive plan[19]. - The company has implemented a stock incentive plan to motivate and retain key personnel[19]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,848,505,609.41, a 1.64% increase from the end of the previous year[5]. - The company's total assets increased slightly to ¥2,848,505,609.41 from ¥2,802,619,783.71, reflecting a growth of approximately 1.6%[26]. - The total current assets decreased to ¥1,719,172,221.98 from ¥2,013,969,901.43, indicating a decline of about 14.6%[26]. - The total current liabilities rose to ¥825,664,801.43 from ¥806,117,686.48, marking an increase of about 2.9%[27]. - The company's non-current liabilities decreased to ¥82,414,015.82 from ¥89,545,833.12, showing a reduction of approximately 7.9%[27]. - The company's inventory increased to ¥474,711,846.22 from ¥390,839,450.51, representing a growth of approximately 21.5%[26]. Market and Operational Challenges - The company faced operational uncertainties due to the impact of COVID-19, with upstream suppliers experiencing capacity constraints and logistics issues in Shanghai[23]. - The company decided to terminate the acquisition of 95.75% equity in Lingou Chuangxin due to significant changes in the market environment, which was initially planned to be completed in 2021[21]. Earnings Per Share - The company reported a basic earnings per share of -¥0.19 for Q1 2022, down from ¥1.12 in Q1 2021[31]. - Basic earnings per share for Q1 2022 were CNY 0.21, down from CNY 1.08 in Q1 2021, indicating a decrease of approximately 80.6%[41].

Financial Performance - The company reported a total revenue of RMB 500 million for the first half of 2022, representing a year-on-year increase of 25%[14]. - The company reported a sales revenue of 591.5 million RMB for the first half of 2022, a decrease of 44.49% compared to the same period last year[21]. - The net profit attributable to shareholders was -61.9 million RMB, down 118.44% year-on-year, while the net profit excluding non-recurring gains and losses was -103.4 million RMB, a decline of 137.69%[22]. - The company's basic earnings per share were -0.99 RMB, a decrease of 118.20% compared to 5.44 RMB in the same period last year[21]. - The total operating revenue for the first half of 2022 was RMB 591,499,752.83, a decrease of 44.4% compared to RMB 1,065,534,712.29 in the first half of 2021[168]. - The net profit for the first half of 2022 was a loss of RMB 61,882,205.80, compared to a net profit of RMB 349,709,126.00 in the first half of 2021[169]. - The total comprehensive income for the first half of 2022 was a loss of RMB 61,660,271.86, compared to a comprehensive income of RMB 349,889,330.36 in the same period last year[170]. Research and Development - The company has allocated RMB 50 million for research and development in new technologies for the upcoming fiscal year[14]. - Research and development expenses accounted for 31.37% of operating revenue, an increase of 20.29 percentage points year-on-year[21]. - The company reported a total R&D expenditure of approximately ¥185.53 million, a significant increase of 57.22% compared to ¥118.01 million in the same period last year[38]. - The company added 29 new intellectual property applications during the reporting period, including 19 invention patents, bringing the total number of intellectual property projects to 696[36]. - The company has a total of 316 R&D personnel, an increase of 31.67% compared to the same period last year, contributing to the rise in R&D expenses[39]. - The company’s R&D efforts are focused on expanding product lines and recruiting talent in AC/DC and DC/DC product development[39]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share by the end of 2023[14]. - Future guidance indicates a revenue target of RMB 1 billion for the full year 2022, with a projected growth rate of 30%[14]. - The company is exploring potential mergers and acquisitions to enhance its technology portfolio and market reach[14]. - A strategic acquisition of a smaller tech firm was announced, which is expected to contribute an additional 200 million in annual revenue[108]. Operational Challenges - The management highlighted risks related to supply chain disruptions and semiconductor shortages, which may impact future performance[14]. - The company anticipates continued challenges due to global economic conditions, including the impact of the pandemic and geopolitical tensions[23]. - The company experienced a 48.09% decline in sales volume compared to the first half of 2021, primarily due to excess inventory and weakened end-user demand[23]. Financial Position and Assets - The total assets as of June 30, 2022, were 2.58 billion RMB, a decrease of 6.74% from the end of 2021[22]. - The company's total current assets amounted to RMB 1,877,048,322.72, a decrease from RMB 2,264,336,883.49 at the beginning of the period[160]. - The cash and cash equivalents decreased to RMB 291,874,175.50 from RMB 330,792,439.84[160]. - Accounts receivable dropped significantly from RMB 283,126,432.35 to RMB 126,974,806.02[160]. - Inventory increased to RMB 465,779,136.00, up from RMB 390,839,450.51[160]. Shareholder and Governance - The company has committed to ensuring that the public offering of shares and listing on the Sci-Tech Innovation Board does not involve any fraudulent issuance[109]. - The company will strictly fulfill all public commitments made regarding the initial public offering and actively accept social supervision[111]. - The company will compensate investors for any losses incurred due to unfulfilled commitments[114]. - The company has established a multi-channel incentive model to mitigate talent loss and technology leakage risks[67]. Environmental and Social Responsibility - The company does not engage in direct product manufacturing, thus does not generate industrial wastewater, waste gas, waste residue, or noise, ensuring no environmental pollution during the R&D process[98]. - The company has not disclosed any environmental penalties or issues during the reporting period, indicating compliance with environmental regulations[99]. - The company has not reported any significant changes in its commitment to social responsibility or poverty alleviation efforts[99].

Financial Performance - The company reported a revenue of CNY 301.84 million for Q1 2022, a decrease of 25.93% compared to the same period last year[4]. - The net profit attributable to shareholders was a loss of CNY 11.48 million, down 116.60% year-on-year[4]. - The net profit after deducting non-recurring gains and losses was a loss of CNY 36.47 million, a decline of 156.29% compared to the previous year[4]. - The company's cash flow from operating activities was a negative CNY 293.73 million, a decrease of 1,472.33% year-on-year[4]. - Total operating revenue for Q1 2022 was ¥301,841,864.23, a decrease of 26.0% compared to ¥407,514,538.24 in Q1 2021[30]. - Net profit for Q1 2022 was a loss of ¥11,479,192.95, compared to a profit of ¥73,119,388.12 in Q1 2021, indicating a significant decline[31]. - The total comprehensive income attributable to the parent company was -11,424,814.70 RMB, compared to 73,148,241.37 RMB in the previous year[32]. - Basic earnings per share decreased to -0.19 RMB from 1.12 RMB in Q1 2021, indicating a significant drop in profitability[32]. - The basic earnings per share for Q1 2022 was CNY 0.21, down from CNY 1.08 in Q1 2021[42]. Research and Development - Research and development expenses totaled CNY 86.17 million, representing 28.55% of revenue, an increase of 15.86 percentage points year-on-year[5]. - Research and development expenses increased by 66.57%, driven by a rise in personnel costs and stock-based compensation for R&D staff[13]. - Research and development expenses rose to ¥86,170,679.39 in Q1 2022, up 66.7% from ¥51,732,958.65 in Q1 2021[30]. - Research and development expenses increased to CNY 54,096,863.39, representing a rise of 16.4% from CNY 46,448,445.52 in the previous year[40]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 2.85 billion, a 2.97% increase from the end of the previous year[5]. - The net assets attributable to shareholders were CNY 1.94 billion, up 1.76% from the previous year[5]. - Total assets as of Q1 2022 amounted to ¥2,848,505,609.41, compared to ¥2,766,435,651.73 in Q1 2021, reflecting a growth of 2.9%[29]. - Total liabilities increased to ¥908,078,817.25 in Q1 2022 from ¥859,479,387.62 in Q1 2021, marking a rise of 5.6%[28]. - The company's total liabilities increased to CNY 922,828,615.85 in Q1 2022, up from CNY 867,058,249.30 in Q1 2021[39]. - The company's total equity rose to CNY 2,096,663,345.06, compared to CNY 2,038,529,056.34 in the same period last year[39]. Cash Flow - The company's cash and cash equivalents amounted to RMB 394.81 million, an increase from RMB 330.79 million as of December 31, 2021, representing a growth of approximately 19.4%[26]. - In Q1 2022, the company reported a net cash flow from operating activities of -293,729,698.94 RMB, a significant decline compared to 21,403,658.96 RMB in Q1 2021[35]. - The company experienced a net cash inflow from investment activities of 307,682,341.92 RMB, a turnaround from a net outflow of -153,680,801.10 RMB in Q1 2021[35]. - The company achieved a cash inflow from investment activities of CNY 1,001,911,116.53, compared to CNY 469,320,281.80 in Q1 2021[43]. - The company's cash outflow for purchasing goods and services was 504,962,462.75 RMB, which is a substantial increase from 256,604,637.01 RMB in the same quarter last year[35]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 7,437[15]. - The top shareholder, Hu Liqiang, holds 16,564,500 shares, representing 26.70% of the total[16]. - The second-largest shareholder, Xia Feng, owns 15,115,500 shares, accounting for 24.37%[16]. Government Support and Incentives - The company received government subsidies amounting to CNY 1.36 million, which were included in the current period's profit[11]. - The company approved a stock incentive plan on March 17, 2022, granting 73,200 restricted stocks at a price of RMB 86.00 per share to 13 incentive targets[18]. - The company plans to grant 1,155,376 restricted stocks at RMB 113.80 per share under the 2022 first phase stock incentive plan, with 924,376 stocks for initial grant and 231,000 stocks reserved[20]. - The company’s board of directors approved the vesting of certain restricted stocks under previous incentive plans, confirming that the conditions for vesting have been met[21]. - The company’s stock incentive plans have received independent board approval, ensuring compliance with governance standards[18]. Operational Challenges - The company is facing operational uncertainties due to the impact of COVID-19, with upstream suppliers experiencing capacity constraints and logistics issues in Shanghai[24]. - The company has communicated the need for investors to pay attention to the operational environment and potential risks associated with ongoing pandemic measures[24]. Other Financial Metrics - The gross profit margin decreased by 7.60% year-on-year, with average costs rising by 50.63%[8]. - The company reported a significant increase in financial expenses, with interest expenses rising to ¥2,063,441.44 in Q1 2022 from ¥293,470.30 in Q1 2021[30]. - The company recognized a fair value change gain of 26,180,917.57 from trading financial assets and derivatives[12]. - The total non-recurring gains and losses amounted to 24,989,758.15 after tax adjustments[13]. - Accounts receivable decreased from ¥283,126,432.35 in the previous year to ¥218,661,108.82 in Q1 2022, a decline of 22.8%[27]. - Inventory increased to ¥474,711,846.22 in Q1 2022, up 21.5% from ¥390,839,450.51 in Q1 2021[27].

Financial Performance - The company achieved a total revenue of CNY 2.30 billion in 2021, representing a year-on-year increase of 108.75%[20] - Net profit attributable to shareholders reached CNY 677.42 million, up 883.72% compared to the previous year[20] - The net profit after deducting non-recurring gains and losses was CNY 578.51 million, an increase of 1,993.67% year-on-year[20] - The company's total assets as of December 31, 2021, amounted to CNY 2.77 billion, a growth of 69.97% from the previous year[23] - The weighted average return on equity increased to 41.24%, up 35.48 percentage points from 2020[21] - The company's gross profit margin has significantly improved due to price adjustments in response to rising raw material costs and increased demand[81] - The comprehensive gross profit margin improved to 47.93%, an increase of 22.48 percentage points from 2020[94] - The net profit for the year reached CNY 710,837,260.40, marking a significant increase of 919.12% year-on-year[91] Research and Development - The company maintained high R&D investment, with total R&D expenses reaching 298.91 million yuan in 2021, a 89.67% increase from the previous year[46] - The company is currently working on 11 R&D projects with a total expected investment of ¥73 million, of which ¥15.66 million has been invested this period[69] - The ongoing projects include advanced LED driver chips and high-performance DC-DC power management chips, targeting various applications such as smart lighting and fast charging solutions[69] - The company has developed the first domestic multi-phase controller product with independent intellectual property rights for the high-current DC/DC industry, which has completed customer validation and is in the market promotion stage[55] - The company has achieved breakthroughs in high-precision constant current technology, enhancing its competitiveness in the LED lighting driver chip market[58] - The R&D investment strategy focuses on expanding new product lines and attracting talent in AC/DC and DC/DC product development[64] - The company is developing a series of high-performance DC-DC power management chips, which are expected to break foreign monopolies in the market[69] Product Development and Sales - The sales revenue of smart LED lighting driver chips surged to 1,063.53 million RMB, marking a 162.17% increase year-on-year[36] - The sales revenue of AC/DC power chips skyrocketed to 85.78 million RMB, a staggering growth of 651.94% compared to the previous year[38] - The company successfully completed the verification of the AC/DC series new products, which have been launched into the market with promising results[35] - The company introduced 61 new smart LED lighting driver products in 2021, achieving a sales volume growth of 81.15% year-over-year, with smart products accounting for 46.20% of total revenue, up from 36.79% in 2020[39] - Sales revenue from wireless dimming and color-changing products reached 368 million yuan, a year-over-year increase of 155.72%, while high-performance lighting products generated 226 million yuan, up 343.78%[39] Corporate Governance - The company has received a standard unqualified audit report from its accounting firm[5] - The company has confirmed that all board members attended the board meeting[5] - The company has not reported any instances where more than half of the directors could not guarantee the authenticity, accuracy, and completeness of the annual report[7] - The company has established long-term cooperative relationships with major suppliers to secure production capacity through advance payments[83] - The board consists of 7 members, including 3 independent directors, ensuring a structured governance framework[195] Talent and Human Resources - The company has a total of 427 employees, with 272 in technical roles, 50 in sales, 17 in finance, and 88 in administration[176] - The company emphasizes employee training, focusing on professional skills and management capabilities to enhance employee competency and career development[178] - The company is actively addressing risks related to talent retention and technology leakage by implementing multi-channel incentive models[80] - The R&D team is composed of highly qualified professionals, with a significant portion holding advanced degrees, ensuring a strong foundation for future innovations[76] Strategic Acquisitions and Investments - In June 2021, the company planned to acquire 95.75% of Nanjing Lingou Chuangxin Electronics to enhance its competitiveness in the variable frequency ceiling fan and home appliance sectors[43] - The company is in the process of acquiring 95.75% of Lingou Chuangxin, pending approval from the Shanghai Stock Exchange and the China Securities Regulatory Commission[87] - The company is actively advancing the acquisition of Nanjing Lingou to integrate its MCU and motor business, seeking new growth opportunities[140] - The company aims to leverage professional investment institutions to seek new investment opportunities and profit growth points[173] Risk Management - The company has detailed various risks it may face in the "Management Discussion and Analysis" section of the report[4] - The company faced potential risks related to international trade policies, although direct impacts were not yet observed[86] - The company is focusing on enhancing its supply chain management capabilities to mitigate potential risks associated with product price declines[81] Dividend and Profit Distribution - The company plans to distribute a cash dividend of RMB 40 per 10 shares, totaling approximately RMB 248,120,320, which represents 36.63% of the net profit attributable to shareholders for 2021[5] - The parent company's distributable profit as of December 31, 2021, is RMB 806,029,089.66, while the consolidated net profit for 2021 is RMB 677,420,694.85[179] Environmental and Social Responsibility - The company does not directly engage in manufacturing, thus not generating industrial waste or pollution during its chip design and R&D processes[197] - The company has adopted a smart lighting system in its new office to significantly reduce daily electricity consumption and carbon emissions[200] - The company has not faced any administrative penalties related to environmental issues during the reporting period[198]

Financial Performance - The company achieved a revenue of 759,086,067.08 RMB in Q3 2021, representing a year-on-year increase of 135.47%[5] - Net profit attributable to shareholders reached 237,776,750.39 RMB, a significant increase of 1,062.70% compared to the same period last year[5] - The net profit excluding non-recurring gains and losses was 233,021,581.93 RMB, reflecting a remarkable growth of 2,497.03% year-on-year[5] - For the first nine months of 2021, total revenue was 1,824,620,779.37 RMB, up 158.16% from the previous year[7] - The company sold 58.54 billion units of products, a 52.06% increase from 38.50 billion units in the same period last year[8] - Revenue for the year-to-date period increased by 158.16% due to strong downstream market demand and increased product sales[11] - Net profit attributable to shareholders for the year-to-date period reached 1,818.71 million, driven by market demand and product structure optimization[12] - The net profit for the first three quarters of 2021 was ¥648,745,471.03, a substantial rise from ¥29,906,858.12 in the previous year, reflecting an increase of approximately 2061.5%[30] - The net profit for Q3 2021 was approximately ¥600.94 million, a significant increase from ¥30.61 million in Q3 2020, representing a growth of over 1,867%[31] - The net profit attributable to shareholders of the parent company was approximately ¥573.45 million, compared to ¥29.89 million in the same period last year, marking an increase of approximately 1,820%[32] Research and Development - Research and development expenses amounted to 85,088,025.60 RMB, accounting for 11.21% of total revenue[6] - Research and development expenses for the year-to-date period amounted to 246.20 million, influenced by team expansion and increased testing costs[12] - Research and development expenses for the first three quarters of 2021 totaled ¥203,099,805.75, compared to ¥62,780,858.65 in 2020, marking an increase of about 223.5%[30] Assets and Liabilities - Total assets increased by 79.01% to 2,913,510,386.23 RMB compared to the end of the previous year[6] - Total assets as of September 30, 2021, reached ¥2,913,510,386.23, compared to ¥1,627,590,561.92 at the end of 2020, indicating an increase of about 79.0%[27] - Total liabilities as of September 30, 2021, were ¥970,878,606.99, a significant rise from ¥351,067,891.75 at the end of 2020, reflecting an increase of approximately 176.5%[27] - The company's equity attributable to shareholders as of September 30, 2021, was ¥1,892,420,317.95, compared to ¥1,258,967,839.77 at the end of 2020, showing an increase of about 50.2%[27] Cash Flow - The company’s cash flow from operating activities improved due to increased revenue and cash receipts[12] - Cash flow from operating activities for the first nine months of 2021 was approximately ¥1.91 billion, compared to ¥477.13 million in the same period of 2020, reflecting a growth of approximately 300%[33] - The net cash flow from operating activities in Q3 2021 was approximately ¥509.23 million, a turnaround from a net outflow of ¥46.01 million in Q3 2020[34] Shareholder Information - The top ten shareholders collectively hold a significant portion of shares, with the largest shareholder owning 26.70%[15] - The company plans to grant 113,800 restricted stocks at a price of RMB 79.00 per share, accounting for 0.18% of the total share capital of 62,030,080 shares[18] - The second phase of the restricted stock incentive plan involves granting 441,500 restricted stocks, which is 0.71% of the total share capital[20] - The first grant under the incentive plan will be 353,200 restricted stocks at a price of RMB 168.00 per share, representing 0.57% of the total share capital[21] Acquisition Plans - The company intends to acquire 95.75% of Nanjing Lingou Chuangxin Electronics Co., Ltd. through a combination of issuing shares and cash payments[23] - The company has signed a framework agreement with 14 original shareholders of Lingou Chuangxin for the acquisition[23] Audit and Reporting - The company has not disclosed any audit opinion type for the quarterly financial report[24]