Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion CNY for the first half of 2022, representing a year-on-year growth of 15%[12]. - The company's operating revenue for the first half of 2022 was ¥721,286,964.48, representing a year-on-year increase of 19.7% compared to ¥602,559,056.01 in the same period last year[18]. - The net profit attributable to shareholders of the listed company increased by 18.75% to ¥36,409,562.33, up from ¥30,660,217.93 in the previous year[20]. - The net cash flow from operating activities rose significantly by 55.75% to ¥56,279,277.11, compared to ¥36,133,224.26 in the same period last year[18]. - The net profit after deducting non-recurring gains and losses was ¥31,952,943.68, which is a 31.78% increase from ¥24,248,015.99 in the previous year[18]. - The company's total assets reached ¥1,804,866,333.33, marking an 11.27% increase from ¥1,622,075,467.30 at the end of the previous year[18]. - The company's cash flow from operating activities increased by 55.75% year-on-year, driven by higher cash receipts from sales and lower prepaid income tax[124]. - Cash and cash equivalents increased by 44.61% year-on-year, mainly due to the recovery of funds from financial products and increased cash receipts from sales[127]. Market Expansion and Customer Base - User data indicates a growing customer base, with an increase of 20% in active users compared to the previous year, reaching 500,000 active users[12]. - The company is expanding its market presence in Europe, targeting a 25% increase in sales in that region over the next year[12]. - The company has established stable partnerships with numerous well-known automotive manufacturers, including Ford, Volkswagen, and Tesla[26]. - The company has formed stable partnerships with major automotive manufacturers, including Ford, General Motors, and Tesla, ensuring a reliable customer base[104]. - The company's export business accounted for 52.53% of main business revenue, with sales to the Americas at 32.51% and Europe at 21.08%[116]. Research and Development - The company has invested 50 million CNY in R&D for innovative audio technologies, aiming to improve product performance and customer satisfaction[12]. - Research and development expenses accounted for 6.16% of operating revenue, an increase from 5.91% in the previous year[19]. - The total R&D expenditure for the period was ¥44,408,206.97, representing a 24.76% increase compared to ¥35,594,841.90 in the same period last year[75]. - The company holds 35 domestic invention patents, 14 PCT international patents, and 82 utility model patents, showcasing its strong R&D capabilities[25]. - The company has developed 11 core technologies in areas such as acoustic product simulation and design, vehicle audio design, and digital speaker systems[63]. - The company is currently developing a 5D in-car audio system with a total investment of ¥6,700,000, of which ¥1,425,200 has been invested to enhance sound effects and immersive experiences[77]. - The company is working on a new generation of digital power amplifiers with a market size of 1.6 billion, designed for high-end vehicle entertainment systems, achieving a performance improvement of 406.31%[80]. Product Development and Innovation - New product development includes the launch of a next-generation audio device, expected to contribute an additional 200 million CNY in revenue by the end of the year[12]. - The company offers a range of automotive audio products, including high-frequency speakers, mid-frequency speakers, low-frequency speakers, full-range speakers, and subwoofers, with specific frequency ranges and sizes tailored to enhance sound quality[28]. - The digital amplifiers developed by the company feature high stability, strong anti-interference capabilities, low distortion, and a wide dynamic range, enhancing sound output quality through integrated DSP processors[31]. - The company is developing a new integrated digital speaker system utilizing digital SoC chips, targeting a market size of 800 million with a projected efficiency improvement of 10.79%[80]. - The company is introducing a new vehicle-mounted active noise control system, with a market size of 1.6 billion, designed to reduce in-car noise levels by 33.99%[82]. Financial Stability and Governance - The company has maintained a strong balance sheet, with total assets reported at 2 billion CNY and a debt-to-equity ratio of 0.3, indicating financial stability[12]. - No significant non-operational fund occupation by controlling shareholders has been reported, ensuring transparency and governance integrity[7]. - The company has committed to a share lock-up period of 36 months for major shareholders and key management personnel, ensuring stability in share prices post-IPO[150]. - The company has established a framework for addressing any unfulfilled public commitments, demonstrating a focus on corporate governance and responsibility[156]. Challenges and Risks - The management has identified potential risks, including supply chain disruptions, which could impact production and delivery timelines[4]. - The company is facing challenges from global supply chain disruptions, including semiconductor shortages and rising raw material prices, impacting recovery efforts[108]. - Operating costs increased by 27.98% year-on-year, primarily due to revenue growth and rising raw material prices[123]. Environmental and Social Responsibility - The company has implemented an environmental management system certified by ISO14001, ensuring compliance with environmental regulations[146]. - The company has established a wastewater treatment center with a capacity of 30m3/h to manage industrial wastewater effectively[142]. - The company reported a significant reduction in solid waste through partnerships with qualified disposal companies, ensuring proper handling of hazardous materials[144]. - The company has taken measures to minimize noise pollution through engineering controls and distance attenuation, resulting in negligible impact on the surrounding environment[145].

Financial Performance - The company's revenue for Q1 2022 was CNY 368,313,049.65, representing a year-on-year increase of 17.47%[4] - The net profit attributable to shareholders decreased by 42.26% to CNY 12,528,042.23 compared to the same period last year[4] - The net profit after deducting non-recurring gains and losses fell by 32.31% to CNY 12,117,010.15[4] - Basic and diluted earnings per share decreased by 56.50% to CNY 0.08[4] - Total operating revenue for Q1 2022 was CNY 368,313,049.65, an increase of 17.5% compared to CNY 313,526,091.71 in Q1 2021[17] - Net profit for Q1 2022 was CNY 12,737,475.24, a decrease of 41.4% from CNY 21,744,082.39 in Q1 2021[18] - Earnings per share for Q1 2022 was CNY 0.08, down from CNY 0.18 in Q1 2021[18] Cash Flow and Liquidity - The net cash flow from operating activities increased significantly by 133.25% to CNY 23,820,285.93[4] - Cash flow from operating activities for Q1 2022 was CNY 23,820,285.93, an increase from CNY 10,212,344.67 in Q1 2021[20] - Cash and cash equivalents reached CNY 509,836,889.38, up from CNY 327,151,689.62 at the end of 2021, indicating a significant liquidity improvement[13] - The ending balance of cash and cash equivalents was $509,419,809.03, up from $364,931,072.08 at the end of the previous period[21] - The net increase in cash and cash equivalents was $182,684,887.20, contrasting with a decrease of $40,098,791.94 in the previous period[21] Research and Development - R&D investment totaled CNY 24,805,526.27, an increase of 53.73% year-on-year, accounting for 6.73% of revenue[5] - Research and development expenses for Q1 2022 were CNY 24,805,526.27, an increase of 53.6% from CNY 16,136,089.04 in Q1 2021[17] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,729,702,653.83, up 6.64% from the end of the previous year[5] - As of March 31, 2022, the total current assets amounted to CNY 1,284,158,053.43, an increase from CNY 1,196,934,370.40 at the end of 2021[13] - Total liabilities as of Q1 2022 were CNY 685,141,758.06, compared to CNY 591,539,672.20 in Q1 2021, reflecting a growth of 15.8%[17] - Total liabilities increased, with accounts payable at CNY 246,670,590.04, up from CNY 223,882,869.21 at the end of 2021[14] - Short-term borrowings rose to CNY 328,919,200.46 from CNY 254,036,725.86 at the end of 2021, indicating increased leverage[14] Shareholder Information - The company reported a total of 4,452 common shareholders as of the report date, indicating a stable shareholder base[10] - The top ten shareholders collectively hold 77.5% of the shares, with Suzhou Shangsheng Investment Management Co., Ltd. being the largest shareholder at 26.25%[10] Market and Operational Insights - The increase in operating revenue was attributed to the development of the automotive market and enhanced product competitiveness[7] - The decline in net profit was primarily due to increased logistics costs and raw material prices, as well as higher R&D expenditures[7] - The company has not disclosed any significant new product developments or market expansion strategies in this report[12] Other Financial Metrics - The weighted average return on equity decreased by 1.78 percentage points to 1.21%[5] - Total operating costs for Q1 2022 were CNY 355,638,432.64, up 21.6% from CNY 292,204,866.61 in Q1 2021[17] - Other comprehensive income for Q1 2022 was CNY 860,544.54, compared to a loss of CNY 4,051,369.77 in Q1 2021[18] Accounting Changes - The company has adopted new accounting standards starting from 2022, which may affect financial reporting[21]

Financial Performance - The company reported no significant risks that could materially affect its operations during the reporting period[5]. - The company has not yet achieved profitability since its listing[5]. - The company's operating revenue for 2021 was CNY 1,301,980,147.72, an increase of 19.66% compared to CNY 1,088,039,567.06 in 2020[26]. - The net profit attributable to shareholders decreased by 19.67% to CNY 60,665,584.92 from CNY 75,524,981.69 in the previous year[26]. - The cash flow from operating activities showed a significant decline of 122.67%, resulting in a net outflow of CNY -22,327,341.24[29]. - Basic earnings per share decreased by 34.92% to CNY 0.41 from CNY 0.63 in 2020[27]. - The gross margin of the company's main products decreased by 2.41 percentage points due to rising raw material costs and increased shipping expenses[28]. - The company experienced a foreign exchange loss of CNY 20,600,000, which accounted for 31.18% of the total profit for the period[146]. - The cost of sales increased by 22.94% to CNY 953,909,728.75, primarily due to rising raw material prices and increased procurement volume[150]. - The company’s reliance on the automotive industry makes it vulnerable to macroeconomic fluctuations and industry cycles[147]. Dividend and Share Capital - The company plans to distribute a cash dividend of 1.20 CNY per 10 shares, totaling 19.2 million CNY, which represents 31.65% of the net profit attributable to shareholders for 2021[7]. - The total share capital as of December 31, 2021, was 160 million shares[7]. Audit and Governance - The company received a standard unqualified audit report from the accounting firm Xin Yong Zhong He[6]. - The board of directors was fully present at the meeting to approve the annual report[6]. - There are no violations of decision-making procedures regarding external guarantees[9]. - The company has not implemented any special arrangements for corporate governance[9]. Research and Development - The R&D expenditure as a percentage of operating revenue increased to 6.76%, up from 5.64% in the previous year[27]. - The total R&D expenditure for 2021 reached ¥87,956,733, representing a significant increase of 43.2% compared to ¥61,396,600.99 in 2020[105]. - The company applied for a total of 51 patents in 2021, including 17 utility model patents, 12 design patents, 13 invention patents, and 9 PCT international patents[47]. - The company has developed 11 core technologies in areas such as acoustic product simulation and design, vehicle audio design, and digital speaker systems[93]. - The company has established a national postdoctoral research station and a Jiangsu automotive electroacoustic engineering technology research center to drive innovation[126]. Market and Sales Performance - The company achieved a market share of 19.77% in the Chinese market for car speakers in 2021, up from 18.82% in 2020[90]. - The total sales volume of the company’s car speakers reached 5,864.42 thousand units in 2021, compared to 5,651.98 thousand units in 2020[90]. - The company’s global market share for car speakers increased from 12.64% in 2020 to 12.92% in 2021[90]. - The company’s sales volume in the American market was 1,692.16 thousand units in 2021, with a market share of 18.19%[90]. - The company’s sales volume in the European market was 1,328.35 thousand units in 2021, with a market share of 13.85%[90]. - Revenue from car-mounted speakers accounted for 91.3% of total revenue, with sales increasing by 12.94% year-on-year[159]. - The revenue from car-mounted amplifiers grew by 109.63% year-on-year, while the cost of sales increased by 105.82%[161]. - AVAS product revenue rose by 113.79% year-on-year, but gross margin decreased by 13.57 percentage points due to rising raw material costs[161]. Production and Operations - The company has established stable partnerships with numerous well-known automotive manufacturers, including Ford, Volkswagen, and Tesla, and has received various quality certifications[52]. - The company’s vehicle-mounted speaker production and sales reached 61.53 million and 60.00 million units, respectively, representing year-on-year growth of 6.52% and 3.85%[44]. - The production and sales of vehicle-mounted amplifiers surged by 85.53% and 99.78%, totaling 120,600 and 113,600 units, respectively[44]. - The production volume of car-mounted speakers increased by 6.52% year-on-year, while sales volume rose by 3.85%[163]. - The production volume of AVAS products surged by 146.10% year-on-year, with sales volume increasing by 133.92%[163]. Challenges and Risks - The company is facing challenges due to the ongoing global pandemic, chip shortages, and rising raw material prices, which may impact recovery efforts[45]. - The company’s export sales accounted for 54.09% of total revenue, with significant exposure to the U.S. market, which poses risks related to trade tensions[142]. - The automotive industry is undergoing rapid transformation due to the "new four modernizations," with significant impacts from chip shortages and rising raw material prices[79]. Customer and Supplier Relationships - The top five customers contributed CNY 731,507,700 to sales, representing 58.59% of total operating revenue, indicating high customer concentration risk[144]. - The total procurement amount from the top five suppliers was 19,204.58 million RMB, representing 25.05% of the annual procurement total[177]. - The company did not rely on any single supplier for more than 50% of its total procurement, with Supplier Three being a new addition to the top five suppliers[178]. Investments and Assets - The company has received provincial-level demonstration project certification for its intelligent manufacturing workshops in new energy vehicle electronic amplifiers and components[48]. - The cash and cash equivalents decreased by 19.31% compared to the previous year, primarily due to increased procurement costs and expanded workforce[184]. - The company's inventory increased by 46.13% year-over-year, attributed to rising raw material costs and expanded sales scale[187]. - The construction in progress surged by 208% compared to the previous year, mainly due to improvements and new production lines in overseas factories[188]. - The company's overseas assets amounted to 244,643,924.08 RMB, accounting for 15.08% of total assets[193]. Technological Innovation - The company is actively pursuing new product and technology development to create new market opportunities and sales growth points[47]. - The company has developed acoustic simulation technology that optimizes speaker structure design, achieving significant improvements in sound quality and distortion reduction[97]. - The company has integrated tuning algorithms into DSP chips to enhance automotive audio systems, achieving a frequency response flatness control within ±2dB across multiple positions[99]. - The company has developed an active noise control system that improves robustness and stability through online identification of secondary channel transfer functions[102]. - The company is focused on optimizing product structures in car-mounted speakers and enhancing the quality of amplifiers to capture market opportunities in the new energy vehicle sector[47].

Financial Performance - The company's operating revenue for Q3 2021 was ¥314,579,103.66, a decrease of 1.03% compared to the same period last year[5]. - The net profit attributable to shareholders was ¥13,661,272.13, down 55.93% year-on-year, while the net profit excluding non-recurring gains and losses decreased by 49.49% to ¥13,234,032.12[5][12]. - Total operating revenue for the first three quarters of 2021 reached ¥917,138,159.67, an increase of 22.9% compared to ¥746,284,040.90 in the same period of 2020[22]. - Net profit for the first three quarters of 2021 was ¥44,197,787.04, representing a 9.2% increase from ¥40,502,842.87 in the same period of 2020[23]. - Total operating costs for the first three quarters of 2021 were ¥871,461,391.14, up 25.0% from ¥697,058,575.72 in the previous year[22]. - Total comprehensive income for the third quarter of 2021 reached CNY 42,663,808.33, compared to CNY 30,523,281.70 in the same period of 2020, representing an increase of approximately 39.5%[24]. - Basic and diluted earnings per share for the third quarter of 2021 were both CNY 0.31, a decrease from CNY 0.34 in the third quarter of 2020, reflecting a decline of about 8.8%[24]. Cash Flow and Liquidity - The cash flow from operating activities showed a significant decline of 91.87%, amounting to ¥6,493,928.02[6][12]. - Cash flow from operating activities for the first three quarters of 2021 was CNY 6,493,928.02, a significant decrease of approximately 91.9% compared to CNY 79,851,918.56 in the same period of 2020[27]. - Cash inflow from operating activities totaled CNY 974,054,963.21 for the third quarter of 2021, up from CNY 871,703,995.84 in the third quarter of 2020, indicating an increase of about 11.7%[27]. - Cash outflow from operating activities was CNY 967,561,035.19 in the third quarter of 2021, compared to CNY 791,852,077.28 in the same period of 2020, marking an increase of approximately 22.1%[27]. - The company's cash and cash equivalents stood at approximately 411.64 million RMB as of September 30, 2021, showing a slight increase from approximately 405.45 million RMB at the end of 2020[17]. - The cash and cash equivalents at the end of the third quarter of 2021 were CNY 411,223,045.44, an increase from CNY 389,362,563.27 at the end of the previous quarter[28]. - The company reported a total cash inflow from financing activities of CNY 479,443,564.76 in the third quarter of 2021, compared to CNY 234,891,962.16 in the same period of 2020, reflecting an increase of approximately 104.4%[28]. Assets and Liabilities - Total assets increased by 16.85% to ¥1,584,658,375.08 compared to the end of the previous year[6]. - The company's total assets increased to ¥1,584,658,375.08, compared to ¥1,356,099,577.40 at the end of the previous year, reflecting a growth of 16.8%[19]. - Total liabilities decreased to ¥568,381,181.83 from ¥641,462,476.62, a reduction of 11.4%[19]. - The company's total liabilities amounted to $641,462,476.62, a decrease of $9,568,755.71 compared to the previous period[32]. - The current liabilities totaled $639,561,058.21, showing a slight decrease from $642,254,674.65[32]. Shareholder Equity - The equity attributable to shareholders rose by 42.31% to ¥1,015,038,170.01[6]. - The equity attributable to shareholders of the listed company increased by 301.76 million RMB, a growth rate of 42.31%, mainly due to the successful fundraising of 308.80 million RMB from the company's listing on the Shanghai Stock Exchange's Sci-Tech Innovation Board in April 2021[13]. - Shareholders' equity reached $714,637,100.78, with total equity attributable to the parent company at $713,274,374.52[32]. Research and Development - Research and development expenses totaled ¥20,198,863.83, an increase of 26.19% year-on-year, representing 6.42% of operating revenue, up 1.39 percentage points[6][12]. - Research and development (R&D) expenses increased by 37.23% year-on-year in the first three quarters of 2021, driven by an expanded R&D team and higher costs associated with automotive audio and amplifier development projects[13]. - Research and development expenses for the first three quarters of 2021 amounted to ¥55,793,705.73, an increase of 37.2% compared to ¥40,658,011.66 in the same period of 2020[22]. - The company is actively expanding its R&D efforts, particularly in automotive audio systems, with projects involving major clients like Huawei and NIO[12]. - The company is actively involved in developing automotive audio systems for various automotive brands, indicating a strategic focus on market expansion in the automotive sector[13]. Operational Challenges - The company faced increased costs due to rising raw material prices and significant management expenses related to team expansion and travel[12]. - The company is experiencing pressure from international shipping costs and port congestion, impacting its export operations[12]. - The company reported a significant increase in management expenses due to team expansion and the absence of social security exemptions that were in place during the previous year[12]. Future Plans - The company plans to continue expanding its sales, R&D, and management teams to support business growth, leading to increased cash payments to employees compared to the previous year[13]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[19].

Financial Performance - The company reported a total revenue of 1.2 billion CNY for the first half of 2021, representing a year-on-year increase of 15%[1]. - The company's operating revenue for the first half of 2021 was approximately CNY 602.56 million, representing a year-on-year increase of 40.64% compared to CNY 428.44 million in the same period last year[24]. - Net profit attributable to shareholders for the first half of 2021 reached approximately CNY 30.66 million, a significant increase of 230.62% from CNY 9.27 million in the previous year[24]. - The basic earnings per share for the first half of 2021 was CNY 0.23, up 187.50% from CNY 0.08 in the same period last year[24]. - The company has set a revenue target of 2.5 billion CNY for the full year 2021, reflecting a growth forecast of 12%[1]. - The company reported a total revenue of 27,305.00 million RMB, with a net profit of 3,559.47 million RMB for the first half of 2021[89]. User Growth and Market Expansion - User data showed an increase in active users by 20% compared to the previous half-year, reaching 500,000 active users[1]. - Market expansion efforts include entering the Southeast Asian market, with an expected contribution of 5% to total revenue by the end of 2021[1]. - The company plans to launch two new product lines in Q3 2021, targeting a market expansion of 10% in the audio equipment sector[1]. Research and Development - Research and development expenses increased by 25% to 150 million CNY, focusing on innovative audio technologies and product enhancements[1]. - The company has established a strong independent R&D capability in automotive acoustic technology, with 29 domestic invention patents, 10 PCT international patents, and 62 utility model patents as of the reporting period[95]. - The total R&D investment amounted to ¥35,594,841.90, representing a 44.39% increase compared to the previous period's ¥24,651,893.09[79]. - R&D investment as a percentage of operating revenue increased to 5.91%, up by 0.16 percentage points from the previous period[79]. - The company has developed multiple core technologies in the acoustic field, including AVAS active sound technology and digital speaker system technology, which enhance product value and competitiveness[69]. Product Development and Innovation - The company has developed a low-power, high-performance digital speaker SoC chip, which is the first of its kind in the domestic electroacoustic industry[75]. - The digital speaker SoC chip features a 10W output with a distortion rate of only 0.1%, achieving industry-leading performance metrics[75]. - The company has developed a push-push speaker system that operates between 60Hz and 1000Hz, providing enhanced sound quality through phase-coherent wave superposition[35]. - The AVAS product, essential for electric and hybrid vehicles, improves pedestrian safety by simulating engine sounds at low speeds, ensuring better driving experiences[40]. - The company has implemented a frequency-shifting algorithm in its AVAS technology, allowing for dynamic adjustment of warning sounds based on vehicle speed[75]. Financial Health and Cash Flow - The company's cash flow from operating activities for the first half of 2021 was approximately CNY 36.13 million, an increase of 63.83% compared to CNY 22.06 million in the previous year[24]. - The net cash flow from operating activities increased by 63.83% year-on-year, primarily due to a 40.64% increase in operating revenue compared to the same period last year[27]. - The company experienced significant growth in product sales, with increases of 221.45% and 154.31% in specific product categories[25]. Risk Management - The company has identified potential risks related to supply chain disruptions and is actively working on mitigation strategies[1]. - The company faced risks related to high customer concentration, potential trade barriers, and raw material price volatility, which could adversely affect future performance[120][121][125]. Partnerships and Collaborations - A new strategic partnership with a leading automotive manufacturer is expected to enhance product offerings and increase market share in the automotive audio segment[1]. - The company has established stable partnerships with numerous well-known automotive manufacturers and audio brands, including Ford, Volkswagen Group, and Tesla[31]. Environmental and Social Responsibility - The company has obtained ISO 14001 environmental management system certification, indicating a commitment to environmental management[164]. - The company has developed a series of environmental protection regulations, including harmful substance control procedures and waste management guidelines[164]. Stock and Shareholder Commitments - The company commits to not transferring or entrusting the management of its shares for 36 months post-IPO, in compliance with relevant regulations[171]. - Major shareholders have committed to avoid competition and reduce related party transactions[25]. - The company has a commitment to disclose shareholder information in accordance with regulations[29].