Financial Performance - The company reported a revenue of 1.2 billion CNY for the first half of 2021, representing a year-over-year growth of 25%[7]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion CNY for the first half of 2021, representing a year-over-year growth of 30%[10]. - The company's revenue for the first half of 2021 reached ¥733,404,487.50, representing a 117.08% increase compared to ¥337,842,798.25 in the same period last year[19]. - Net profit attributable to shareholders was ¥189,085,865.38, a significant increase of 286.87% from ¥48,875,473.00 in the previous year[19]. - The basic earnings per share for the period was ¥1.5757, up 190.13% from ¥0.5431 in the same period last year[20]. - The company achieved a total revenue of CNY 733.40 million, representing a year-on-year growth of 117.08%[56]. - Net profit attributable to the parent company reached CNY 189.09 million, up 286.87% year-on-year[56]. - The company's net profit for the first half of 2021 reached CNY 177,374,985.94, a significant increase from CNY 48,195,107.72 in the same period of 2020, representing a growth of approximately 268%[138]. - Operating profit for the first half of 2021 was CNY 177,374,985.94, compared to CNY 48,202,250.58 in the previous year, indicating a substantial increase[138]. User Growth - User data indicates an increase in active users by 15% compared to the previous half-year, reaching a total of 3 million active users[7]. - User data indicates that the number of active users for the company's products reached 10 million, marking a 25% increase compared to the previous year[10]. Market Expansion - The company expects a revenue growth of 30% for the second half of 2021, driven by new product launches and market expansion strategies[7]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2022[7]. - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share by the end of 2022[10]. Research and Development - Research and development expenses increased by 20% to 200 million CNY, focusing on AI and IoT technologies[7]. - The development of new technologies, including the Intelligent Bluetooth Retransmission Technology (IBRT), is expected to enhance product performance and user experience[10]. - The company aims to increase its investment in EDA tools to streamline product design processes and improve time-to-market for new products[10]. - Research and development expenses grew by ¥33,182,087.67, a 40.56% increase year-on-year, but the ratio of R&D expenses to revenue decreased by 8.54 percentage points to 15.68%[20]. - The company is focusing on enhancing its audio products with advanced features such as Active Noise Cancellation (ANC) and high-fidelity sound quality[10]. - The company has developed a high-performance HiFi CODEC technology with a signal-to-noise ratio exceeding 120dB, optimizing gain stages to reduce overall power consumption and chip area[34]. - The company’s mixed active noise cancellation technology achieves a noise reduction depth of over 40dB, with a loop delay of less than 20 microseconds, positioning it at an industry-leading level[35]. - The company’s new generation WiFi/Bluetooth dual-mode SoC chip supports advanced AI capabilities and lower power consumption, aimed at smart WiFi speakers and smart home appliances[40]. - The company has a strong focus on technology innovation, with significant advancements in ultra-low power RF technology and embedded voice AI technology for smart audio SoC chips[33][41]. Financial Position - The company's total assets increased to ¥6,029,000,422.81, a growth of 4.59% compared to ¥5,764,322,483.07 at the end of the previous year[19]. - The company's net assets attributable to shareholders increased to ¥5,672,759,473.15, reflecting a 3.22% growth from ¥5,495,786,326.56 at the end of the previous year[19]. - The company's total liabilities reached ¥356,240,949.66, compared to ¥268,536,156.51, marking an increase of approximately 32.6%[130]. - The equity attributable to shareholders increased to ¥5,672,759,473.15 from ¥5,495,786,326.56, showing a growth of about 3.2%[130]. Cash Flow - The net cash flow from operating activities decreased by 28.30% to ¥22,779,712.23, primarily due to increased inventory to meet revenue growth[19]. - Cash and cash equivalents at the end of the period amounted to ¥2,795,468,688.27, accounting for 46.37% of total assets, a decrease of 12.87% compared to the previous year[78]. - The net cash flow from investment activities was negative at CNY -373,927,271.78, compared to CNY -9,392,498.59 in the previous year, showing a larger outflow[140]. - The total cash and cash equivalents at the end of the period were CNY 2,564,527,182.96, down from 3,066,685,732.72 CNY at the beginning of the period, showing a decrease of approximately 16.4%[142]. Risks and Challenges - The company has identified potential risks related to supply chain disruptions and is implementing measures to mitigate these risks[7]. - The company faces significant competition from major players like Qualcomm and MediaTek, which have advantages in asset scale and product line[67]. - The semiconductor industry is influenced by macroeconomic factors, with potential risks from trade policies and economic downturns affecting product sales[68]. - The company is exposed to financial risks, including accounts receivable collection risks and inventory devaluation risks, as business scales up[69][70]. - The gross profit margin may fluctuate due to intense market competition and the need for continuous product innovation[73]. Shareholder Commitments - The company’s major shareholder, Liang Zhang, committed to a 36-month lock-up period for shares post-IPO, with specific conditions for share transfer[91]. - The company reported a lock-up period of 36 months for shareholders after the IPO, during which they cannot transfer or manage their shares[93]. - Shareholders are restricted from selling more than 25% of their pre-IPO shares annually for four years after the lock-up period ends[93]. - The company emphasizes the importance of shareholder commitments to maintain investor confidence and market stability[96]. Compliance and Governance - The company has committed to transparency and legal responsibility regarding its stock repurchase plans[103]. - The company will publicly disclose the specific reasons for any unfulfilled commitments and apologize if it fails to execute the commitments due to non-force majeure reasons[109]. - The commitments made by the controlling shareholders and actual controllers are binding and they will accept supervision from regulatory bodies and the public[111]. - The company has not received any penalties or corrective actions related to violations of laws and regulations during the reporting period[112].

Financial Performance - The company reported a significant increase in revenue, achieving a total of $1.5 billion for the fiscal year, representing a 25% year-over-year growth[11]. - The company's revenue for 2020 reached CNY 1,061,171,127.53, representing a 63.55% increase compared to 2019[18]. - Net profit attributable to shareholders was CNY 198,390,522.04, a significant increase of 194.44% year-on-year[18]. - Basic earnings per share for 2020 were CNY 2.2043, reflecting a 164.40% increase compared to 2019[19]. - The company reported a net profit of CNY 81,389,188.22 in Q4 2020, contributing to a strong annual performance[22]. - The company achieved operating revenue of CNY 1,061,171,127.53, representing a year-on-year increase of 63.55%[86]. - The sales volume reached 157,172,900 units, with a year-on-year growth of 50.95%[87]. - Revenue from smart Bluetooth audio chips grew by 135.38%, accounting for 51.47% of total revenue[88]. - The company reported a net cash inflow from financing activities of 4.79 billion yuan, a 1,386.53% increase, attributed to funds raised from its IPO[99]. Dividend Policy - The proposed profit distribution plan includes a cash dividend of RMB 1.68 per 10 shares, totaling RMB 20,160,000, which represents 10.16% of the net profit attributable to ordinary shareholders for the year 2020[5]. - The company has established a stable cash dividend policy, aiming for a minimum of 10% of distributable profits to be distributed as cash dividends annually[109]. - The company committed to a cash dividend policy that varies based on its development stage and capital expenditure plans[109]. Research and Development - The company is investing in R&D for advanced noise cancellation technology, with a budget allocation of $50 million for the upcoming year[11]. - Research and development expenses increased by CNY 40,275,154.35, a growth of 30.43% year-on-year, but the ratio of R&D expenses to revenue decreased by 4.13 percentage points[20]. - R&D expenses totaled approximately ¥172.64 million in 2020, a 30.43% increase from ¥132.36 million in 2019, accounting for 16.27% of operating revenue[44]. - The number of R&D personnel increased to 198, up from 160 in the previous year, with total R&D personnel compensation rising to ¥93.93 million[48]. - The company has developed key technologies including low-power RF technology and high-performance audio CODEC technology for its SoC products[103]. Market Expansion and Strategy - Market expansion plans include entering the European market, targeting a 10% market share within the first two years[12]. - The company is exploring potential acquisitions to enhance its product portfolio, with a focus on companies specializing in AI technology[11]. - The company is focusing on integrating WiFi and Bluetooth capabilities in its AIoT SoC chips, enhancing performance and functionality in smart devices[40]. - The company aims to enhance its SoC chip performance and power efficiency through advanced process technology, addressing the growing demands of smart terminal products[32]. - The company is expanding its market presence in Southeast Asia, targeting a 30% market share by 2025[177]. Operational Risks - The company has detailed potential operational risks and corresponding countermeasures in the report's section on operational discussion and analysis[3]. - The company faces risks related to product iteration due to rapid technological upgrades in the integrated circuit design industry, which typically requires about 1 year for product introduction and an average sales period of approximately 3 years[68]. - The company is heavily reliant on core technical talent in the integrated circuit design industry, and there is a risk of talent loss if incentives for existing staff and recruitment of new talent are not maintained[71]. - The company operates under a Fabless model, outsourcing chip manufacturing and testing, which poses risks related to supplier management and potential quality issues that could affect product reliability[73]. Corporate Governance - The company has established a governance structure involving the shareholders' meeting, board of directors, supervisory board, and management to protect the rights of shareholders and creditors[146]. - The company has implemented a financial risk control system to ensure timely payments and protect creditor rights[146]. - The company has a commitment to social responsibility, including participation in public welfare and charity initiatives[151]. - The company has maintained strict compliance with information disclosure obligations, ensuring transparency and protecting minority investors' rights[189]. Audit and Compliance - The annual report has received a standard unqualified audit opinion from the accounting firm, ensuring the accuracy and completeness of the financial statements[4]. - The company appointed Lixin Accounting Firm as the auditor for the 2020 fiscal year, with an audit fee of RMB 500,000[134]. - Key audit matters identified include revenue recognition, with specific procedures implemented to evaluate the effectiveness of internal controls related to revenue recognition[200]. - The audit procedures for revenue recognition involved understanding and assessing the design and execution of management's internal controls[200]. Shareholder Information - The top five customers contributed sales of 798.01 million yuan, accounting for 75.20% of total annual sales[94]. - The top five suppliers accounted for 621.63 million yuan in purchases, representing 94.58% of total annual purchases[95]. - The company has a diverse shareholder base, including both domestic and foreign entities, with significant stakes from investment funds[164]. - The company has a total of 16,569,672 restricted shares that will become tradable on December 16, 2021[165]. Future Outlook - The company provided guidance for the next fiscal year, projecting revenue growth of 15% to $1.725 billion[11]. - Future outlook includes continued market expansion and potential new product development, although specific details were not provided in the content[1]. - The company is exploring new strategies for mergers and acquisitions to enhance its market position[1].

Financial Performance - In Q1 2021, the company's operating revenue increased by CNY 161.21 million, a growth of 124.55% year-on-year[4] - The net profit attributable to shareholders in Q1 2021 was CNY 79.73 million, a significant increase of 4,751.05% compared to the same period last year[6] - The basic and diluted earnings per share for Q1 2021 were CNY 0.6644, up 3,588.29% year-on-year[6] - The company's operating revenue for Q1 2021 was RMB 290,638,507.47, representing a 124.55% increase compared to RMB 129,429,115.18 in Q1 2020[15] - The company reported a significant increase in contract liabilities, rising to ¥8,592,364.10 from ¥1,252,245.22, an increase of approximately 586.5%[21] - The company reported a comprehensive income total of ¥79,825,686.79 for Q1 2021, compared to a loss of ¥1,622,018.31 in Q1 2020[28] Research and Development - R&D expenses in Q1 2021 amounted to CNY 56.15 million, an increase of 30.63% year-on-year[4] - The company's research and development expenses for Q1 2021 were RMB 56,153,077.42, a 30.63% increase from RMB 42,985,250.12 in Q1 2020, reflecting growth in R&D personnel[15] - Research and development expenses increased to ¥56,153,077.42 in Q1 2021, compared to ¥42,985,250.12 in Q1 2020, marking a 30.5% rise[27] - R&D investment as a percentage of operating revenue was 19.32%, a decrease of 13.89 percentage points from 33.21% in the same period last year[6] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date was CNY 26.00 million, a turnaround from a negative CNY 31.63 million in the same period last year, representing a 182.21% increase[6] - The net cash flow from operating activities for Q1 2021 was -31,627,563.35, a significant decline from RMB 26,000,359.82 in Q1 2020, indicating a 182.21% decrease[16] - Cash flow from operating activities generated CNY 26.00 million in Q1 2021, compared to a negative cash flow of CNY 31.63 million in Q1 2020[31] - The company reported cash inflows from investment activities of approximately CNY 1.68 billion in Q1 2021, a substantial increase from CNY 121.06 million in Q1 2020[32] - Total cash inflow from investment activities reached ¥1,676,991,972.62, compared to ¥121,056,000.00 in the same period last year[35] Assets and Liabilities - Total assets at the end of the reporting period were CNY 5.84 billion, a 1.25% increase from the end of the previous year[5] - The company's total assets increased by 39.40% to RMB 3,128,848,547.95 as of March 31, 2021, up from RMB 2,244,462,333.34 at the end of 2020[13] - The company's total assets amounted to ¥5,782,946,001.90 in Q1 2021, compared to ¥5,707,704,681.94 in Q1 2020, indicating an increase of approximately 1.3%[27] - Total liabilities decreased to ¥258,110,406.05 from ¥268,536,156.51, a reduction of about 3.4%[22] - The total liabilities decreased to ¥216,727,984.04 in Q1 2021 from ¥222,776,236.83 in Q1 2020, a reduction of approximately 2.2%[27] Financial Ratios and Returns - The weighted average return on equity increased by 1.77 percentage points to 1.44% compared to the same period last year[6] - The company's equity attributable to shareholders increased to ¥5,578,334,954.51 from ¥5,495,786,326.56, a growth of about 1.5%[22] - Total equity increased to ¥5,566,218,017.86 in Q1 2021, up from ¥5,484,928,445.11 in Q1 2020, reflecting a growth of 1.5%[27] Financial Expenses - The company's financial expenses saw a dramatic increase of 353.09%, resulting in a net financial income of -RMB 11,534,606.41, compared to -RMB 2,545,781.89 in the previous year[15] - The company incurred financial expenses of CNY -12.65 million in Q1 2021, compared to CNY -3.31 million in Q1 2020, indicating an increase in financial costs[29] - The financial expenses for Q1 2021 showed a significant improvement, with a net financial income of ¥11,534,606.41 compared to a loss of ¥2,545,781.89 in Q1 2020[27]