Financial Performance - The company's operating revenue for Q1 2023 was RMB 84,684.91 million, representing a decrease of 16.05% compared to the same period last year[4]. - The net profit attributable to shareholders of the listed company was a loss of RMB 42,578.88 million, an increase in loss of RMB 23,693.11 million year-on-year[7]. - The net loss for Q1 2023 was reported at ¥97,516,593.86, compared to a loss of ¥63,871,864.42 in Q1 2022, indicating a worsening of 52.5%[15]. - Operating profit for Q1 2023 was -425,705,732.31 RMB, compared to -189,564,582.05 RMB in the same period last year[16]. Cash Flow - The net cash flow from operating activities was a negative RMB 10,145.17 million[4]. - Cash inflow from operating activities totaled 1,119,121,266.08 RMB, down from 1,400,351,894.16 RMB in Q1 2022, representing a decrease of approximately 20.1%[17]. - Cash outflow from operating activities was 1,220,572,951.73 RMB, compared to 1,479,069,462.89 RMB in Q1 2022, showing a reduction of about 17.5%[18]. - The net cash flow from operating activities was -101,451,685.65 RMB, worsening from -78,717,568.73 RMB in the previous year[18]. - Cash inflow from investment activities was 3,699,763,344.35 RMB, down from 5,667,795,292.46 RMB in Q1 2022, a decline of approximately 34.7%[18]. - The net cash flow from investment activities was 37,653,318.71 RMB, a significant improvement from -99,738,759.48 RMB in Q1 2022[18]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 3,026,629.51 million, a decrease of 2.03% from the end of the previous year[5]. - Total assets as of March 31, 2023, were ¥30,266,295,119.73, a decrease from ¥30,893,232,346.13 at the end of 2022, representing a decline of 2.0%[14]. - The company's total liabilities decreased to ¥14,884,194,689.50 in Q1 2023 from ¥15,088,179,917.21 in Q4 2022, a reduction of 1.4%[14]. - The total equity decreased to ¥15,382,100,430.23 in Q1 2023 from ¥15,805,052,428.92 in Q4 2022, a decline of 2.7%[14]. Research and Development - Research and development expenses totaled RMB 8,641.31 million, accounting for 10.20% of operating revenue, an increase of 1.42 percentage points year-on-year[5]. - R&D expenses increased significantly to ¥52,751,180.94 in Q1 2023, compared to ¥22,918,747.98 in Q1 2022, marking a rise of 130.0%[15]. - The company continues to focus on high-intensity R&D investment to enhance competitiveness and ensure long-term advantages[8]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 152,081[9]. - Major shareholders include Shanghai Lianhe Investment Co., Ltd. with a 58.01% stake and Shanghai Integrated Circuit Industry Investment Fund with a 13.81% stake[9]. Financial Ratios - The weighted average return on net assets was -2.73%, a decrease of 1.64 percentage points year-on-year[5]. - The company reported non-recurring gains and losses totaling RMB 2,621.99 million, primarily from government subsidies and fair value changes of financial assets[6]. - The company's inventory as of March 31, 2023, was ¥1,462,618,975.46, slightly down from ¥1,488,555,522.66 at the end of 2022, a decrease of 1.7%[12]. - The company reported a significant increase in financial expenses, which rose to ¥77,871,276.03 in Q1 2023 from ¥40,267,232.77 in Q1 2022, an increase of 93.2%[15].

Financial Performance - The company's operating revenue for 2022 was RMB 419,088.15 million, representing a 4.24% increase compared to RMB 402,054.66 million in 2021[22]. - The net profit attributable to shareholders of the listed company was a loss of RMB 160,179.21 million, compared to a loss of RMB 94,515.82 million in 2021[22]. - The net cash flow from operating activities was a negative RMB 2,894.43 million, a decrease of 130.76% from RMB 9,410.72 million in 2021[22]. - The total assets at the end of 2022 were RMB 3,089,323.23 million, down 6.78% from RMB 3,313,960.11 million at the end of 2021[22]. - The net assets attributable to shareholders of the listed company decreased by 9.16% to RMB 1,580,505.24 million from RMB 1,739,833.41 million in 2021[22]. - The company's net profit attributable to shareholders for 2022 was -1,601.79 million RMB, an increase in loss of 656.63 million RMB compared to the previous year[23]. - The basic and diluted earnings per share for 2022 were both -0.12 RMB/share, a decrease of 0.04 RMB/share from the previous year[24]. - The weighted average return on equity for 2022 was -9.65%, down 3.11 percentage points from the previous year[24]. - The company's operating cash flow for 2022 was -28.94 million RMB, a decrease of 123.05 million RMB compared to the previous year[24]. - Operating costs rose to CNY 485,807.61 million, reflecting a 6.92% increase from CNY 454,375.48 million[95]. - Financial expenses surged by 175.11% to CNY 37,696.29 million, primarily due to increased interest expenses from construction projects and rising borrowing costs[95]. Research and Development - The company invested 10.34% of its revenue in R&D in 2022, a slight increase of 0.11 percentage points from the previous year[23]. - The total R&D investment for the year was CNY 43,321.51 million, representing a 5.33% increase compared to the previous year, with R&D expenses accounting for 10.34% of revenue[65]. - A total of 106 new patents were granted during the reporting period, including 78 invention patents and 28 utility model patents, bringing the total to 1,113 patents[63]. - The company is focusing on developing new technologies and products through a structured management process, enhancing its competitive edge in the market[47]. - The company achieved a 30% reduction in product power consumption and a 300% increase in lifespan for OLED stacked device design technology, meeting high brightness and low power consumption requirements for display panels[61]. - The company is actively researching advanced technologies such as LTPO array technology and flexible process technology to enhance product value and competitiveness[74]. Market Position and Strategy - The company plans to continue focusing on market expansion and product innovation to enhance its competitive edge in the AMOLED display market[33]. - The company achieved significant breakthroughs in the smartphone market, with AMOLED semiconductor display panel shipments reaching a new high, supplying major models for brands like Huawei, Transsion, and Lenovo[35]. - The company is actively expanding its market presence in various sectors, including automotive, desktop, and industrial displays, to drive future growth[42]. - The company has established strategic partnerships with leading automotive brands for the development of custom AMOLED displays, enhancing its market presence in the automotive sector[53]. - The company is focusing on the development of new technologies, including efficient driving transistors and critical pixel compensation technology, with some technologies already in mass production[58]. - The company plans to accelerate the implementation of fundraising projects to enhance supply capacity and optimize product structure, thereby strengthening its competitive position in the AMOLED sector[128]. Operational Challenges - The company is facing various operational risks, which are outlined in the management discussion and analysis section[5]. - The company has not achieved profitability since its listing, and the reasons for this are detailed in the risk factors section of the report[4]. - The company faced challenges due to global economic downturns and increased competition, leading to a significant drop in product prices[23]. - The AMOLED semiconductor display panel industry is facing pressure due to oversupply and declining prices, but opportunities exist in the growing demand for mid-to-large size products[50][51]. - The company is exposed to risks from reliance on imported key equipment and raw materials, which may impact future production and operational performance[84]. Governance and Management - The company has established a governance structure with clear responsibilities among the shareholders' meeting, board of directors, and supervisory board, ensuring effective operation and decision-making[135]. - The company has implemented various internal control systems to enhance governance and protect shareholder rights, including the development of management regulations and internal policies[136]. - The company emphasizes the establishment of a sound internal control management system to improve governance and risk management capabilities, ensuring compliance with legal regulations[131]. - The company has a focus on integrating advanced technologies, as evidenced by its involvement in semiconductor and medical technology sectors[157]. - The leadership team includes individuals with extensive experience in various sectors, which may contribute to innovative strategies and market expansion[157]. Employee and Compensation - The total number of employees in the parent company is 4,196, with 2,614 in production, 1,390 in technology, and 77 in sales[175]. - The company has implemented an employee stock ownership plan to enhance employee motivation and creativity[179]. - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to CNY 12.96 million[161]. - The company has a performance-oriented compensation system, implementing semi-annual and annual performance evaluations[179]. - The company has a 100% coverage rate for labor contracts with all formal employees, ensuring compliance with labor laws[179]. Future Outlook - The company provided guidance for Q1 2023, expecting revenue to be between 1.6 billion and 1.8 billion, indicating a growth of 10% to 20%[146]. - The company is investing 200 million in R&D for new technologies in the upcoming fiscal year[146]. - The company is expanding its market presence in Asia, targeting a 30% increase in market share within the next year[151]. - The company provided an optimistic outlook, projecting a revenue growth of 25% for the next quarter, driven by new product launches[151].

Financial Performance - The company's operating revenue for Q3 2022 was CNY 149,908.67 million, representing a year-on-year increase of 54.37%[4] - The net profit attributable to shareholders was CNY -50,549.30 million, with a year-to-date net profit of CNY -97,938.71 million[4] - The company's revenue for the first three quarters of 2022 reached ¥3,291,613,539.33, an increase from ¥2,849,596,196.79 in the same period of 2021, representing a growth of approximately 15.5%[15] - The net loss for the first three quarters of 2022 was ¥3,160,463,731.01, worsening from a loss of ¥2,181,076,612.77 in the same period of 2021[14] - The net profit for Q3 2022 was -979,387,118.24 RMB, compared to -681,506,714.63 RMB in Q3 2021, indicating a significant increase in losses[16] - The total comprehensive income for Q3 2022 was -979,387,118.24 RMB, compared to -681,506,714.63 RMB in Q3 2021[17] - The company reported a total operating profit of -979,874,451.73 RMB for Q3 2022, compared to -683,201,198.37 RMB in Q3 2021[16] Research and Development - The total R&D investment in Q3 2022 was CNY 7,163.73 million, a decrease of 43.10% compared to the same period last year[5] - R&D investment accounted for 4.78% of operating revenue, down 8.18 percentage points year-on-year[5] - Research and development expenses amounted to ¥111,413,399.66 in the first three quarters of 2022, slightly up from ¥107,196,786.62 in 2021, reflecting a growth of approximately 3.1%[15] - The company plans to increase R&D investment in Q4 2022 to support ongoing projects[7] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date period was CNY 1,259.99 million, a decrease of 82.07% compared to the previous year[5] - Cash flow from operating activities for the first three quarters of 2022 was 12,599,933.94 RMB, a decrease from 70,275,902.16 RMB in the same period of 2021[18] - The net cash flow from financing activities in Q3 2022 was -741,967,656.14 RMB, a significant decrease from 7,869,561,987.98 RMB in Q3 2021[19] - The company received cash from sales and services amounting to 3,629,467,984.58 RMB in the first three quarters of 2022, an increase from 2,711,335,650.01 RMB in the same period of 2021[18] - The company's cash and cash equivalents were ¥1,423,629,048.61 as of September 30, 2022, down from ¥2,181,033,706.12 at the end of 2021, a decline of approximately 34.8%[12] - Cash and cash equivalents at the end of Q3 2022 amounted to 1,353,144,073.34 RMB, down from 2,701,896,480.36 RMB at the end of Q3 2021[19] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,218,515.90 million, a decrease of 2.88% from the end of the previous year[5] - The total assets as of September 30, 2022, were ¥32,185,159,030.08, a decrease from ¥33,139,601,124.96 at the end of 2021[14] - The total liabilities as of September 30, 2022, were ¥15,754,484,143.63, slightly increasing from ¥15,741,267,052.61 at the end of 2021[14] - The equity attributable to shareholders was CNY 1,643,067.49 million, down 5.56% from the end of the previous year[5] - The company’s total equity as of September 30, 2022, was ¥16,430,674,886.45, down from ¥17,398,334,072.35 at the end of 2021, reflecting a decrease of about 5.6%[14] Shareholder Information - The top ten shareholders held a total of 8,057,201,900 shares, representing 58.01% of the total shares[8] Operational Challenges - The company experienced a significant impact on production capacity due to the Shanghai COVID-19 outbreak, affecting logistics and production output[7]

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 179,252.69 million, a decrease of 4.58% compared to CNY 187,847.95 million in the same period last year[17]. - The net profit attributable to shareholders of the listed company was CNY -47,389.42 million, slightly improved from CNY -48,879.47 million year-on-year[17]. - The net cash flow from operating activities was CNY -2,963.51 million, compared to CNY 499.58 million in the previous year[17]. - The total assets at the end of the reporting period were CNY 3,278,509.04 million, down 1.07% from CNY 3,313,960.11 million at the end of the previous year[17]. - The net assets attributable to shareholders of the listed company decreased by 2.69% to CNY 1,693,030.39 million from CNY 1,739,833.41 million[17]. - The basic earnings per share for the first half of 2022 was CNY -0.03, an improvement from CNY -0.04 in the same period last year[18]. - The weighted average return on net assets was -2.76%, an increase of 1.58 percentage points from -4.34% year-on-year[18]. - The company faced a net loss of 473.89 million yuan, with negative retained earnings as of June 30, 2022[46]. - The company reported a significant increase in financial expenses by 25.73% to 9,566.56 million, compared to 7,608.57 million in the same period last year[51]. - The company’s long-term borrowings stood at 1,341,468.34 million, a slight increase of 3.92% from 1,290,845.67 million in the previous year[53]. Research and Development - The R&D investment accounted for 9.29% of operating revenue, an increase of 1.24 percentage points compared to 8.05% in the previous year[18]. - The company achieved a total R&D investment of 16,653.13 million RMB, an increase of 10.16% compared to the previous year[30]. - The company successfully mass-produced 10 new products across various fields, including smart wearables, smartphones, tablets, and automotive displays[28]. - The company completed the development of new technologies in small-size and hard-screen performance, with multiple products successfully introduced by the end of the reporting period[28]. - The company filed for 15 new invention patents and obtained 41, bringing the total to 1,979 invention patents[29]. - The company has made significant progress in developing new materials and devices, with layered OLED technology showing promising results in laboratory trials[28]. - The company is focusing on enhancing its core technologies in low-temperature polysilicon AMOLED display panels to maintain its competitive edge[27]. Production and Capacity - The company achieved a total shipment volume of AMOLED semiconductor display panels ranking fifth globally and third domestically in the first half of 2022, with the smart wearable sector ranking second globally and first domestically[25]. - The company has a production capacity of 15K/month for the 4.5 generation AMOLED production line and 22.5K/month for the 6th generation line, with an additional 15K/month line under construction expected to start trial production in 2023[25]. - The company’s 6th generation AMOLED production line is positioned as the second largest globally for hard screens, significantly boosting supply capabilities for smartphone displays[41]. - The company plans to start trial production of a new 15K/month production line in 2023, which will further increase production capacity and scale efficiency[40]. - The company has successfully developed and mass-produced the first 12.8-inch AMOLED hard screen for automotive applications, collaborating with leading automotive brands[41]. Market Position and Strategy - The company has established a strong position in the high-end AMOLED display market for tablets and laptops, maintaining a technological lead domestically[25]. - The company has established a strong customer base, supplying AMOLED displays to major brands such as Huawei, Lenovo, and Motorola, enhancing its market share in the smartphone and tablet sectors[41]. - The company is actively developing AMOLED panels for automotive displays, with several high-end new models adopting AMOLED screens in the first half of 2022[26]. - The company maintained continuous growth in shipments and revenue in the tablet and notebook computer sector, leveraging its unique 6th generation AMOLED hard screen production line[42]. - The company is focused on enhancing its core competitive advantages in the AMOLED field and aims to minimize the impact of the pandemic on its operations[45]. Environmental and Social Responsibility - The company has established environmental protection facilities capable of treating 52,300 cubic meters of wastewater and 55,368,000 cubic meters of exhaust gas daily, all operating normally[68]. - The average discharge concentration for chemical oxygen demand is 47.92 mg/L, significantly below the limit of 500 mg/L, indicating compliance with standards[67]. - The company has implemented energy-saving measures, including the use of advanced energy-efficient equipment, which reduces electricity consumption and carbon emissions[74]. - The company has achieved ISO14001 and ISO50001 certifications, ensuring effective execution of environmental management systems[72]. - The company has developed a detailed emergency response plan for environmental incidents, which has been implemented and practiced[70]. Shareholder and Governance - The company approved the 2021 Restricted Stock Incentive Plan and its management measures during the first extraordinary shareholders' meeting on February 16, 2022[60]. - The company did not distribute profits or increase capital reserves in the 2021 fiscal year[62]. - The company has committed to ensuring that the prospectus and related documents do not contain false statements or omissions, bearing legal responsibility for their accuracy[104]. - The company guarantees that the public offering of shares does not involve any fraudulent issuance, and if found otherwise, it will initiate a buyback of all publicly issued shares within 5 working days[91]. - The company will prioritize the construction of fundraising projects using self-raised funds before the arrival of raised funds[94]. Financial Management and Compliance - The company has established a fundraising management method to ensure the safety and efficiency of the raised funds[94]. - The company will publicly explain any failure to fulfill commitments and apologize to investors if necessary[99]. - The company will not transfer shares held directly or indirectly, except under specific circumstances[100]. - The company will ensure that any profits gained from unfulfilled commitments will be returned to the company[100]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[106]. Legal and Regulatory Matters - There are no significant litigation or arbitration matters affecting the company during the reporting period[109]. - The company has not provided any guarantees that violate regulations during the reporting period[107]. - The company has not received any non-standard audit opinions related to the previous annual report[108].

Financial Performance - The company reported a profit distribution plan for 2021, proposing no statutory surplus reserve or cash dividends, and no bonus shares or capital reserve conversion [6]. - The company has not achieved profitability since its listing, and detailed reasons for this are provided in the report [3]. - The company achieved operating revenue of RMB 402,054.66 million in 2021, a 60.69% increase from RMB 250,205.44 million in 2020 [18]. - The company reported a net profit attributable to shareholders of RMB -94,515.82 million in 2021, an improvement from RMB -103,611.54 million in 2020 [18]. - The company’s financial expenses decreased by 17.15% to CNY 13,702.16 million, reflecting improved financial management [63]. - The company’s fundraising activities generated CNY 800,940.26 million, a 194.25% increase compared to the previous year, primarily from funds raised through the Sci-Tech Innovation Board listing [63]. - The company achieved a revenue of 402,054.66 million yuan, but reported a net loss of 94,515.82 million yuan for the reporting period [50]. - The company reported a significant increase in revenue, achieving a total of $1.5 billion, representing a year-over-year growth of 25% [106]. Operational Efficiency - The net cash flow from operating activities turned positive to RMB 9,410.72 million in 2021, compared to a negative RMB 17,885.36 million in 2020 [20]. - The total assets increased by 33.79% to RMB 3,313,960.11 million at the end of 2021, up from RMB 2,477,067.01 million at the end of 2020 [20]. - The gross margin for AMOLED semiconductor display panel products improved to -13.05% in 2021 from -20.03% in the previous year, an improvement of 6.98 percentage points [25]. - The company faced a significant increase in operating costs, with total operating costs rising to CNY 454,375.48 million, a 51.91% increase from the previous year [62]. - The company achieved a gross margin of 40%, up from 35% in the previous year, reflecting improved operational efficiency [104]. Research and Development - Research and development expenses accounted for 10.23% of operating revenue in 2021, a decrease of 3.90 percentage points from 14.13% in 2020 [19]. - The company achieved a total of 138 new authorized patents during the reporting period, enhancing its innovation capabilities in core technologies [26]. - R&D investment totaled CNY 41,130.26 million in the reporting period, a 16.36% increase year-over-year, with a significant rise in capitalized R&D investment by 46.65% [37]. - The company has filed for 133 new patents during the reporting period, with a total of 2,295 applications and 1,048 granted patents [36]. - The company is investing $50 million in R&D for new technologies aimed at enhancing product efficiency [104]. - Research and development investments increased by 30%, focusing on innovative materials and technologies [111]. Market Position and Strategy - The company ranked fourth globally and second domestically in AMOLED semiconductor display panel shipments in 2021, with a leading position in the tablet/laptop segment [31]. - The company has expanded its product offerings in the smart wearable display sector, focusing on smartwatches and large-screen smart bands, while also entering multiple domestic brand supply chains in the smartphone display market [26]. - The company aims to expand its market share in medium and large-sized AMOLED applications while maintaining its advantage in small-sized panels [32]. - The company is actively developing new products for automotive displays, further diversifying its product portfolio [26]. - The company is exploring acquisition opportunities to enhance its product portfolio, targeting firms with complementary technologies [104]. - The company is focusing on market expansion, targeting an increase in market share by 10% in the Asia-Pacific region over the next year [105]. Corporate Governance - The company has not disclosed any special arrangements for corporate governance [8]. - The company confirmed that there were no related party transactions during the reporting period [100]. - The company has established a comprehensive corporate governance structure to protect the rights of shareholders and creditors, ensuring compliance with relevant laws and regulations [169]. - The company will strictly adhere to regulatory requirements for listed companies and improve its corporate governance structure to enhance management levels and promote profit growth [92]. Environmental and Social Responsibility - The company has achieved compliance with environmental standards, with all monitored pollutants meeting the required limits during the reporting period [151]. - The company has invested in pollution control facilities capable of treating 52,300 cubic meters of wastewater and 55,368,000 cubic meters of exhaust gas daily [153]. - The company reported direct greenhouse gas emissions of 5,640.66 tons and indirect emissions of 238,056.85 tons [157]. - The company has committed to providing a safe working environment and continuously improving safety conditions for employees [170]. - The company emphasizes the importance of employee rights and has established policies to prevent discrimination and ensure fair treatment in all employment practices [170]. Talent and Workforce - The company has 915 R&D personnel, accounting for 22.32% of total employees, indicating a high dependency on technical talent [54]. - The company employed a total of 4,100 staff members, with 2,643 in production, 1,268 in technology, and 543 holding master's degrees [130]. - The average salary of R&D personnel increased to 30.23 thousand yuan, up from 24.72 thousand yuan in the previous period [40]. - The company is committed to attracting and cultivating talent, optimizing talent structure, and enhancing employee training programs to improve overall employee capabilities [91]. Future Outlook - The company’s future plans and strategies are subject to risks and do not constitute a commitment to investors [9]. - The company provided a forward guidance of 10% revenue growth for the next quarter, projecting revenues between $1.3 billion and $1.4 billion [104]. - The company plans to enhance its product structure and optimize customer relationships by developing advanced products for various applications, including smart wearables, smartphones, and specialized displays [88].

Financial Performance - The company's operating revenue for Q1 2022 was RMB 1,008,791,650.49, representing a year-on-year increase of 24.62%[4] - The net profit attributable to shareholders of the listed company was a loss of RMB 188,857,673.53, with a net profit excluding non-recurring gains and losses of RMB 247,303,881.96[4] - The net loss for Q1 2022 was CNY -188,857,673.53, an improvement from CNY -263,577,641.24 in Q1 2021, showing a narrowing of losses[19][20] - The company reported a basic and diluted earnings per share of -0.01 yuan[4] - The basic earnings per share for Q1 2022 was CNY -0.01, compared to CNY -0.03 in Q1 2021, reflecting a slight improvement in per-share performance[20] Cash Flow - The net cash flow from operating activities was negative at RMB 78,717,568.73[4] - In Q1 2022, the company reported cash inflows from operating activities of CNY 1,400,351,894.16, a significant increase from CNY 889,293,749.03 in Q1 2021, representing a growth of approximately 57.4%[21] - The net cash flow from operating activities was negative at CNY -78,717,568.73, compared to CNY -62,701,796.33 in the same period last year[21] - The company's total cash inflow from operating, investing, and financing activities resulted in a net decrease in cash and cash equivalents of CNY -349,391,488.87 for the quarter[22] - Cash and cash equivalents decreased to CNY 1,830,251,637.44 from CNY 2,181,033,706.12 year-over-year, indicating liquidity challenges[11] Assets and Liabilities - Total assets at the end of the reporting period were RMB 32,517,748,225.90, down 1.88% from the end of the previous year[5] - The total assets decreased to CNY 32,517,748,225.90 from CNY 33,139,601,124.96 at the end of 2021, reflecting a reduction in current assets[12][17] - The company's total liabilities decreased to CNY 15,160,711,996.68 from CNY 15,741,267,052.61, suggesting improved debt management[14][17] Research and Development - Research and development expenses totaled RMB 88,582,206.51, accounting for 8.78% of operating revenue, a decrease of 2.57 percentage points compared to the previous year[5] - Research and development expenses increased to CNY 22,918,747.98, up from CNY 21,822,064.17 in Q1 2021, indicating a focus on innovation[18] Shareholder Information - The top ten shareholders held a total of 10,000,000,000 shares, with the largest shareholder, Shanghai Lianhe Investment Co., Ltd., holding 8,057,201,900 shares, accounting for 58.01%[8] Government Support and Non-Recurring Items - The company received government subsidies amounting to RMB 6,454,805.86 during the reporting period[6] - The total amount of non-recurring gains and losses was RMB 58,446,208.43[6]

Financial Performance - The company's operating revenue for Q3 2021 was ¥971,116,744.90, representing a year-on-year increase of 24.33%[4] - The net profit attributable to shareholders was -¥192,711,974.17, with a year-to-date net profit of -¥681,506,714.63[4] - The company's operating revenue for the first three quarters of 2021 reached ¥2,849,596,196.79, a significant increase from ¥1,701,916,819.51 in the same period of 2020, representing a growth of approximately 67.5%[16] - The total operating costs increased to ¥3,185,895,908.41 from ¥2,076,202,882.10, reflecting a rise of about 53.5% year-over-year[16] - The net profit for the first three quarters of 2021 was a loss of ¥681,506,714.63, compared to a loss of ¥779,587,413.08 in the same period of 2020, indicating an improvement of approximately 12.6%[19] - The company recorded a total comprehensive income of -¥681,506,714.63 for the first three quarters of 2021, compared to -¥779,587,413.08 in the same period of 2020, indicating a reduction in losses[19] Research and Development - R&D investment totaled ¥125,899,348.72 in the current period, an increase of 126.48% compared to the same period last year, accounting for 12.96% of operating revenue[5] - The company has accelerated new product development and reserves to increase market share, leading to higher R&D expenditures[8] - Research and development expenses increased to ¥107,196,786.62 from ¥87,947,224.46, marking a rise of about 21.8% year-over-year[16] Assets and Liabilities - Total assets at the end of the reporting period reached ¥32,714,148,513.64, a 32.07% increase from the end of the previous year[5] - The company's current assets totaled RMB 10,375,043,114.46, compared to RMB 2,850,765,168.92 at the end of 2020, indicating a significant increase of approximately 264.5%[13] - The company's total liabilities were RMB 15,052,162,961.92, compared to RMB 14,429,313,618.33 at the end of 2020, showing a slight increase of approximately 4.3%[15] - Long-term borrowings were reported at ¥12.09 billion, indicating a stable debt structure[25] - The company has a cash position with short-term borrowings of approximately ¥300.23 million, reflecting liquidity management[24] Cash Flow - The company reported a net cash flow from operating activities of ¥70,275,902.16 year-to-date[5] - The net cash flow from operating activities was ¥70,275,902.16, a recovery from a negative cash flow of ¥140,300,479.85 in the same period of 2020[20] - The company reported cash inflows from investment activities totaling ¥2,522,475,404.82, a significant increase from ¥364,735,272.20 in the previous year[20] - The net cash flow from financing activities was ¥7,869,561,987.98, compared to ¥1,667,062,514.38 in the same period of 2020, showing a substantial increase[22] - The company's cash and cash equivalents at the end of the period stood at ¥2,701,896,480.36, up from ¥1,324,582,085.38 at the end of the same period in 2020[22] Equity - The equity attributable to shareholders increased by 70.79% year-on-year, amounting to ¥17,661,985,551.72[5] - The equity attributable to owners of the company reached RMB 17,661,985,551.72, up from RMB 10,341,356,522.87, representing an increase of approximately 70.5%[15] - The total equity of the company stood at approximately ¥10.34 billion, indicating a solid capital base[25] Inventory and Receivables - The company's inventory stood at RMB 958,149,338.71, compared to RMB 765,770,445.29 at the end of 2020, marking an increase of about 25.2%[14] - Accounts receivable increased to RMB 523,739,270.08 from RMB 179,610,278.43, reflecting a growth of approximately 191.5%[13]

Financial Performance - For the first half of 2021, the company achieved operating revenue of CNY 1,878,479,451.89, a 103.99% increase compared to CNY 920,867,740.51 in the same period last year[14] - The net profit attributable to shareholders was CNY -488,794,740.46, showing an improvement from CNY -546,240,458.23 year-on-year[14] - The net cash flow from operating activities turned positive at CNY 4,995,816.70, compared to CNY -196,199,175.55 in the previous year[14] - Total assets increased by 33.39% to CNY 33,041,003,178.70 from CNY 24,770,670,141.20 at the end of the previous year[14] - The net assets attributable to shareholders rose by 72.65% to CNY 17,854,697,525.89 from CNY 10,341,356,522.87 at the end of the previous year[14] - The gross profit margin improved to -12.48%, up 15.99 percentage points from -28.47% in the previous year[38] - The company achieved significant progress in new technology development, including thinner wearable display panels and improved under-display sensor technology, enhancing product competitiveness[24] - The company reported a total non-recurring gains and losses amounting to 24,718,904.74 RMB, primarily driven by government subsidies of 17,972,870.96 RMB and fair value changes of trading financial assets yielding 6,040,634.79 RMB[17] Research and Development - Research and development expenses accounted for 8.05% of operating revenue, a decrease of 8.44 percentage points from 16.49% in the same period last year[15] - The total R&D investment amounted to CNY 151,168,543.83, a slight decrease of 0.47% compared to the previous period, with R&D expenses accounting for 8.05% of operating revenue[27] - The company filed for 56 new patents during the reporting period, bringing the total number of patents obtained to 968[26] - The average salary of R&D personnel increased to CNY 15.26 million, up from CNY 12.74 million in the previous period[31] - The company has developed 13 core technologies in AMOLED semiconductor display panel design and manufacturing, maintaining a production stage without significant changes during the reporting period[21][23] - The company is focused on expanding its market presence through the development of advanced technologies and new product lines, ensuring a competitive edge in the AMOLED display market[25] Market Position and Growth - The global market size for AMOLED semiconductor display panels was 30.468 billion USD in 2020, with a year-on-year growth of 22.77%, and is expected to reach 46.904 billion USD by 2025[20] - The company ranked fourth globally and second domestically in AMOLED semiconductor display panel shipments in 2020, with a total shipment volume of 468 million units in the smartphone sector[20] - The shipment volume of AMOLED panels for smartwatches and bands reached 115 million units in 2020, reflecting a year-on-year growth of 19.11%, projected to reach 157 million units by 2025[20] - The company anticipates continued growth in the AMOLED panel market, driven by increasing demand in smartphones, wearables, and laptops, supported by advancements in production technology[20] - The company is actively expanding its market presence in the automotive and industrial display sectors, leveraging its advanced AMOLED technology[18] Financial Position and Assets - The company’s cash and cash equivalents at the end of the period were CNY 5,069.57 million, a 256.88% increase from the previous year[52] - The company’s long-term borrowings increased by 7.17% to CNY 12,956.51 million, indicating ongoing capital investment[53] - The company’s total liabilities were CNY 15,186,305,652.81, an increase from CNY 14,429,313,618.33 in the previous year[122] - The company's equity totaled CNY 17,854,697,525.89, compared to CNY 10,341,356,522.87 at the end of 2020, showing a strong increase in shareholder value[123] - The company’s cash flow from operating activities was CNY 49.96 million, a significant improvement from a negative cash flow of CNY 196.20 million in the previous year[50] Environmental and Compliance - The company has established environmental monitoring systems that meet relevant discharge standards and permit requirements[66] - The company has invested in pollution control facilities capable of treating 52,300 cubic meters of wastewater and 55,368,000 cubic meters of gas daily[66] - The company has achieved ISO14001 and ISO50001 certifications for environmental and energy management systems[70] - There were no administrative penalties received during the reporting period related to environmental issues[69] Shareholder Commitments and Governance - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of listing, with a reduction limit of 2% per year in the 4th and 5th fiscal years if profitable[75] - The company guarantees not to use related party transactions to illegally transfer funds or profits, ensuring no harm to the interests of shareholders[78] - The company will disclose information regarding related party transactions in a timely and detailed manner[77] - The company commits to minimizing unnecessary related-party transactions during its period as a shareholder of the issuer[79] - The company will not engage in any business activities that compete with the issuer's main business during its period as the controlling shareholder[80] Financial Reporting and Accounting Policies - The financial statements are prepared in accordance with the enterprise accounting standards, reflecting the company's financial position and operating results accurately[135] - The company’s accounting period runs from January 1 to December 31 each year, with the current report covering January 1 to June 30, 2021[136] - The company’s accounting currency is Renminbi (RMB)[137] - The company recognizes revenue when control of goods or services is transferred to customers, with specific conditions for domestic and international sales[172] Risks and Challenges - The company faces risks related to industry competition, talent retention, and foreign exchange fluctuations[45][46][47] - The company has no significant litigation or arbitration matters during the reporting period[97] - The company has not engaged in any major related transactions during the reporting period[99]