Financial Performance - The company's operating revenue for 2020 was CNY 429.30 million, representing a year-on-year increase of 28.11% compared to CNY 335.10 million in 2019[24]. - Net profit attributable to shareholders increased by 50.73% to CNY 99.74 million from CNY 66.17 million in the previous year[26]. - The net profit after deducting non-recurring gains and losses rose by 31.76% to CNY 80.63 million, up from CNY 61.20 million in 2019[24]. - Total assets grew by 155.15% to CNY 1.40 billion, compared to CNY 546.78 million at the end of 2019[26]. - Shareholders' equity attributable to the parent company increased by 176.28% to CNY 1.29 billion from CNY 467.32 million in 2019[26]. - Basic earnings per share rose to CNY 1.04, a 23.81% increase from CNY 0.84 in 2019[25]. - The company's cash flow from operating activities decreased by 26.45% to CNY 36.59 million from CNY 49.75 million in 2019[24]. Dividend Distribution - The company plans to distribute a cash dividend of 3.00 RMB per 10 shares, totaling approximately 33,840,000.00 RMB, which accounts for 33.93% of the net profit attributable to shareholders for the year 2020[6]. - The profit distribution proposal for 2020 has been approved by the board and requires shareholder meeting approval[119]. - The company will not conduct capital reserve transfers or issue bonus shares for the 2020 profit distribution[118]. - The cash dividend policy has been strictly executed, ensuring compliance with the established principles and procedures, thereby protecting the rights of minority shareholders[119]. - The company did not distribute any dividends in 2019, and the cash dividend for 2018 was RMB 7,710,000.00, representing 14.41% of that year's net profit[120]. Research and Development - Research and development expenses accounted for 13.65% of operating revenue, down from 14.26% in 2019[25]. - The total R&D investment for the year was ¥58,601,676.52, representing a 22.64% increase from the previous year's ¥47,784,311.31[54]. - The company has developed over 700 product models, with plans to increase R&D investment to improve innovation and upgrade existing products[110]. - The company has developed and mass-produced several high-voltage power management chips, holding 73 authorized patents[43]. - The company has a total of 263 patent applications, with 162 patents granted, including 19 new patents in the current year[52]. Market Position and Strategy - The company focuses on the research and sales of power management integrated circuits, with over 700 models currently in production[37]. - The company plans to continue expanding its product offerings in the home appliance and standard power markets[26]. - The company has established stable partnerships with well-known clients such as Midea, Gree, and Hisense, enhancing its market presence[43]. - The domestic household appliance chip market is valued at approximately 50 billion yuan, with a localization rate of only 5%, indicating significant potential for domestic substitution[45]. - The company aims to strengthen its position in the domestic power management chip industry over the next three years, focusing on enhancing R&D capabilities and expanding product lines[109]. Corporate Governance - The company has received a standard unqualified audit report from the accounting firm Tianye[5]. - The board of directors and supervisory board members have confirmed the authenticity, accuracy, and completeness of the annual report[4]. - The company is not subject to any special arrangements for corporate governance[9]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[8]. - The company has not violated any decision-making procedures for providing guarantees[8]. Risks and Challenges - The company has outlined potential risks in the section discussing operational conditions and analysis[4]. - The company faced risks related to market competition, with over 80% of the domestic power management chip market held by foreign companies[75]. - The company's government subsidies significantly impacted its profit, raising concerns about the sustainability of such financial support[81]. Shareholder Information - The total number of shares as of December 31, 2020, was 112,800,000[118]. - The largest shareholder, Zhang Li, holds 30.41% of the shares, totaling 34,301,000 shares[188]. - The company has a lock-up period of 36 months for shares held by institutional investors, including major funds[127]. - The company’s major shareholders must announce any share reductions three trading days in advance[130]. - The company has a clear ownership structure, with no special notes on controlling shareholders, ensuring transparency for investors[199].

Financial Performance - Operating revenue for the first nine months rose by 20.24% year-on-year, amounting to RMB 279,671,203.25[6] - Net profit attributable to shareholders increased by 35.92% year-on-year, reaching RMB 59,268,334.17[6] - Basic and diluted earnings per share increased by 14.04% year-on-year, both at RMB 0.65[7] - The company reported a net profit of ¥59.27 million for the first three quarters of 2020, a 36.0% increase from ¥43.60 million in the same period of 2019[31] - Total operating revenue for Q3 2020 reached ¥123.53 million, a 41.7% increase from ¥87.16 million in Q3 2019[30] - Net profit for Q3 2020 was ¥27.31 million, representing a 61.5% increase compared to ¥16.91 million in Q3 2019[31] - Total operating profit for Q3 2020 reached CNY 29,954,796.32, compared to CNY 17,993,714.28 in Q3 2019, marking a year-over-year increase of 66.5%[35] - The company’s total profit for Q3 2020 was CNY 30,626,694.31, compared to CNY 19,236,000.03 in Q3 2019, reflecting an increase of 59.5%[35] Assets and Liabilities - Total assets increased by 143.36% year-on-year, reaching RMB 1,330,633,885[6] - Non-current assets totaled CNY 24,640,224.19, up from CNY 19,924,121.08[22] - Current liabilities amounted to CNY 75,756,135.72, a decrease from CNY 77,722,181.50[22] - Total liabilities were CNY 81,568,964.80, compared to CNY 79,456,961.61 previously[22] - Owner's equity increased to CNY 1,249,064,920.20 from CNY 467,320,486.35[22] - The company's total current assets amounted to ¥1,305,993,660.81, a significant increase from ¥526,853,326.88[19] Cash Flow - The net cash flow from operating activities for the first nine months decreased by 9.46% year-on-year, totaling RMB 23,775,747.99[6] - Cash flow from operating activities for the first nine months of 2020 was CNY 23,775,747.99, a decrease from CNY 26,259,556.48 in the same period of 2019[37] - Cash inflow from financing activities totaled $733.92 million, an increase of $150 million from the prior period[41] - Net cash flow from financing activities was $721.98 million, up from $142.14 million in the previous period[41] - The ending balance of cash and cash equivalents reached $585.73 million, up from $308.20 million at the beginning of the period[41] Shareholder Information - The total number of shareholders reached 11,053 by the end of the reporting period[10] - The top ten shareholders held a combined 60.73% of the total shares, with the largest shareholder owning 30.41%[11] Research and Development - Research and development expenses accounted for 14.32% of operating revenue, a decrease of 0.46 percentage points[7] - Research and development expenses for Q3 2020 amounted to ¥17.75 million, a 36.1% increase from ¥13.02 million in Q3 2019[30] Government Subsidies - Government subsidies recognized in the current period amounted to RMB 7,340,596.38 for the third quarter[9] - The company reported a 411.21% increase in other income to ¥9,263,695.35, mainly from government subsidies related to business operations[15] Investment Activities - The company’s investment activities resulted in a net cash outflow of CNY 486,401,427.31 for Q3 2020, compared to a net outflow of CNY 3,741,017.69 in the same period of 2019[37] - Net cash flow from investing activities was -$485.18 million, a decrease of 3.7 million compared to the previous period[41] Future Plans - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[16]