Financial Performance - The company's operating revenue for Q1 2022 was ¥54,530,853.66, representing a year-on-year increase of 40.48%[5] - The net profit attributable to shareholders was ¥8,548,177.59, reflecting a year-on-year growth of 48.09%[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥6,035,011.69, with a year-on-year increase of 41.43%[5] - The basic and diluted earnings per share were both ¥0.17, an increase of 54.55% compared to the same period last year[6] - Total operating revenue for Q1 2022 was CNY 54,530,853.66, an increase of 40.5% compared to CNY 38,816,423.51 in Q1 2021[24] - Net profit for Q1 2022 reached CNY 8,400,893.58, compared to CNY 5,772,229.92 in Q1 2021, representing a growth of 45.4%[25] - In Q1 2022, the total comprehensive income amounted to CNY 8,400,893.58, compared to CNY 5,772,229.92 in Q1 2021, representing an increase of approximately 45.4%[26] - Basic and diluted earnings per share for Q1 2022 were CNY 0.17, up from CNY 0.11 in Q1 2021, reflecting a growth of 54.5%[26] Cash Flow and Assets - The net cash flow from operating activities was -¥5,525,825.86, a decrease of 166.54% year-on-year[6] - As of March 31, 2022, the company's cash and cash equivalents amounted to RMB 58,618,056.06, a decrease from RMB 249,940,745.59 as of December 31, 2021[19] - Cash inflow from operating activities in Q1 2022 was CNY 57,902,836.34, compared to CNY 52,216,796.40 in Q1 2021, indicating an increase of 10.2%[28] - Cash outflow from operating activities in Q1 2022 totaled CNY 63,428,662.20, up from CNY 43,912,219.46 in Q1 2021, which is an increase of 44.5%[28] - Net cash flow from operating activities in Q1 2022 was negative CNY 5,525,825.86, a decline from a positive CNY 8,304,576.94 in Q1 2021[28] - The ending cash and cash equivalents balance as of the end of Q1 2022 was CNY 55,461,571.06, down from CNY 122,286,952.94 at the end of Q1 2021[29] - Total assets at the end of the reporting period were ¥867,319,859.15, a slight decrease of 0.17% from the end of the previous year[6] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 3,320[10] - The actual controller of the company, Mr. Xiong Wei, holds 12.86% of the shares directly and controls a total of 64.27% of the company through various entities[12] - The company has a total of 10 major shareholders, with the largest being Shenzhen Qilingdai Holdings Co., Ltd.[12] Research and Development - Research and development expenses totaled ¥12,936,359.97, accounting for 23.72% of operating revenue, a decrease of 5.52% year-on-year[6] - Research and development expenses for Q1 2022 were CNY 12,936,359.97, compared to CNY 11,350,244.46 in Q1 2021, indicating an increase of 13.9%[25] Investments and Business Expansion - The company plans to invest up to RMB 23.9 million in a capital increase for Yuxun Information Technology (Wuxi) Co., Ltd., acquiring a 20.34% stake[17] - The company has expanded its business scope to enhance its competitive edge in industrial internet, artificial intelligence, big data, and cybersecurity[16] Financial Assets and Liabilities - Total liabilities for Q1 2022 were CNY 146,022,451.87, a decrease from CNY 155,874,122.75 in Q1 2021, showing a reduction of 6.0%[21] - The company's total equity attributable to shareholders was CNY 721,508,509.24, up from CNY 712,960,331.65 in Q1 2021, reflecting a growth of 1.5%[22] - The company reported trading financial assets of RMB 403,372,971.40 as of March 31, 2022, compared to RMB 243,372,971.40 at the end of 2021[19] Shareholder Meetings and Governance - The company held its first temporary shareholders' meeting on February 28, 2022, to elect new board members and senior management[14] - The company has completed the change of its business scope and registered the amendments to its articles of association by the end of March 2022[13] Other Financial Metrics - The weighted average return on equity was 1.19%, an increase of 0.34% compared to the previous year[6] - The company reported a net loss attributable to minority shareholders of CNY -147,284.01 in Q1 2022[26]

Financial Performance - The company's operating revenue for 2021 was CNY 253,851,727.43, an increase of 21.35% compared to the previous year[25]. - The net profit attributable to shareholders was CNY 60,422,374.02, a decrease of 6.22% year-over-year[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 44,969,112.53, down 24.97% from the previous year[25]. - The cash flow from operating activities was CNY 23,330,967.73, a decline of 35.25% compared to the previous year[26]. - The company's total financial assets increased from 100 million yuan to 243.37 million yuan, with a change of 143.37 million yuan during the period[33]. - The company's revenue for the reporting period was 253.85 million RMB, representing a 21.35% increase compared to the previous year, driven by stable order growth[155]. - The company's gross profit margin decreased by 4.59% due to a 37.42% increase in main business costs, influenced by rising commodity prices and changes in product sales structure[159]. Research and Development - The company's R&D expenditure accounted for 21.11% of operating revenue, up from 17.58% in the previous year[24]. - The company experienced a 45.69% increase in R&D expenses compared to the previous year, aimed at improving core competitiveness[26]. - Research and development expenses reached 53.58 million RMB, accounting for 21.11% of operating revenue, reflecting a 45.69% increase year-on-year[151]. - The number of R&D personnel increased to 172, accounting for 40.33% of the total workforce, with total R&D compensation rising to 4,369.52 million[131]. - The company has established multiple testing laboratories to support technology and product validation, enhancing its R&D capabilities[133]. - The company has developed four major product lines in industrial internet communication, including industrial Ethernet switches and embedded modules, improving product development efficiency[134]. Market Position and Strategy - The company has established a strong market position in the industrial internet communication sector, with products widely used in smart cities, smart mining, rail transit, and other fields, serving major clients like China CRRC and State Grid[70]. - The company is committed to exploring new business growth points in emerging industries such as autonomous driving and smart healthcare[38]. - The company aims to enhance its internal management efficiency and competitiveness through process reforms and talent acquisition[43]. - The company has implemented a comprehensive marketing network and provides customized technical services, contributing to competitive advantages[138]. - The company is focusing on expanding its market presence in smart manufacturing and urban transportation sectors[127]. Risks and Challenges - The company faces risks related to technology upgrades and potential product development failures, which could impact its core competitiveness[140][141]. - The company is exposed to risks from fluctuations in raw material supply, particularly chips, which are critical for its products[145]. - The company is exposed to risks from inventory impairment, gross margin fluctuations, and accounts receivable collection due to market competition and economic conditions[148][150]. Product Development and Innovation - The company launched over 30 new products, including a modular industrial switch and a 5G CPE, and implemented 8 new communication technology solutions in various fields[40]. - The company has developed modular product technology that allows for flexible customization and integration of software and hardware, enhancing reliability and performance[89]. - The company has developed the MAS6400 intrinsically safe 10G switch series, which supports multiple gigabit optical ports and has passed safety certification for coal mining applications[98]. - The company has successfully mass-produced the WiFi6 AP for industrial outdoor use, enhancing connectivity in demanding environments[113]. - The company has developed a new generation of gigabit switches that meet safety requirements and have low power consumption, enhancing its market position in the coal communication industry[128]. Corporate Governance - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[9]. - The company has not experienced any violations of decision-making procedures regarding external guarantees[9]. - The company does not have any special arrangements for corporate governance[10]. - The company has confirmed that all board members attended the board meeting[4]. Future Outlook - The company aims to leverage advancements in edge computing, big data, and AI to build an efficient communication operation and maintenance system[74]. - The future outlook for industrial internet communication products is positive, with significant market opportunities anticipated as industries continue to digitize and automate[76]. - The company is positioned to benefit from the growing demand for industrial internet communication products in various sectors, including smart cities and rail transportation[76].

1 证券代码：688618 证券简称：三旺通信 公告编号：2021-037 深圳市三旺通信股份有限公司 关于参加 2021 深圳辖区"沟通传递价值，交流创造良好生态" 上市公司投资者网上集体接待日活动的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重 大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 为进一步加强与投资者的互动交流工作，深圳市三旺通信股份有限公司（以下简称 "公司"）将参加由深圳上市公司协会、深圳市全景网络有限公司共同举办的"沟通传 递价值，交流创造良好生态"——2021 深圳辖区上市公司投资者网上集体接待日活动， 现将有关事项公告如下： 本次集体接待日活动将在深圳市全景网络有限公司提供的网上平台，采取网络远程 的方式举行，投资者可以登录"全景•路演天下"网站 （http://rs.p5w.net/）或关注 微信公众号：全景财经，参与公司本次投资者集体接待日活动，活动时间为 2021 年 11 月 30 日 14:00 至 17:00，其中公司与投资者互动的时间为 15:30 至 17:00。 届时公司董事会秘书熊莹莹女士、财务总监袁玲女士将通过网络文 ...

Financial Performance - The company's operating revenue for Q3 2021 was ¥66,454,205.62, representing a year-on-year increase of 13.82%[5] - The net profit attributable to shareholders for Q3 2021 was ¥16,813,954.29, a decrease of 12.86% compared to the same period last year[5] - The basic earnings per share for Q3 2021 was ¥0.33, down 35.29% year-on-year[6] - Total operating revenue for the first three quarters of 2021 reached ¥171,918,551.02, an increase of 19.6% compared to ¥143,660,466.28 in the same period of 2020[22] - Net profit for the first three quarters of 2021 was ¥42,020,837.33, a decrease of 13.5% from ¥48,327,157.44 in the same period of 2020[23] - Basic and diluted earnings per share for the first three quarters of 2021 were both ¥0.83, down from ¥1.28 in the previous year[24] Research and Development - Research and development expenses totaled ¥13,547,546.43 in Q3 2021, an increase of 37.18% year-on-year, accounting for 20.39% of operating revenue[6] - The company plans to continue increasing R&D investment to maintain market competitiveness in the rapidly growing industrial internet sector[8] - Research and development expenses increased to ¥37,717,497.56, representing a 57.9% rise from ¥23,859,810.15 in the same period of 2020[22] - The company is developing AI image recognition technology and Bluetooth IoT technology for vocational education training solutions[15] Assets and Liabilities - The total assets at the end of the reporting period were ¥829,937,836.15, reflecting a 9.40% increase from the end of the previous year[6] - Total assets as of the end of the third quarter of 2021 amounted to ¥829,937,836.15, compared to ¥758,609,184.17 at the end of the previous year[19] - Total liabilities increased to ¥135,379,041.19, up from ¥85,860,228.54 in the previous year[19] - Total liabilities remained stable at CNY 85,860,228.54, consistent with the previous year[30] - The total assets reached 758,609,184.17, indicating a stable financial position[31] Cash Flow - The net cash flow from operating activities decreased by 30.92% due to a 45% increase in cash payments to employees compared to the same period last year[8] - Operating cash inflow for the first three quarters of 2021 was CNY 163,874,439.77, an increase of 32.2% compared to CNY 123,910,155.95 in the same period of 2020[26] - Net cash flow from operating activities was CNY 12,954,451.69, down 30.8% from CNY 18,752,079.99 year-on-year[26] - Cash inflow from investment activities totaled CNY 758,699,846.15, significantly up from CNY 206,565,506.85 in the previous year, marking a 267.5% increase[27] - Net cash outflow from investment activities was CNY -313,975,788.38, compared to CNY -118,822,011.21 in the same period last year[27] - Cash inflow from financing activities was CNY 30,000,000.00, up from CNY 16,000,000.00, representing an increase of 87.5%[27] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 4,019[10] - The company’s major shareholders control a total of 64.27% of the shares, with the largest shareholder holding 12.86% directly[13] - The company has engaged in stock lending activities, with a total of 181,000 shares lent out during the reporting period[13] Investments - The company has invested ¥1.5 million in a new subsidiary, Sanwang Qizhi (Shanghai) Information Technology Co., Ltd., holding a 30% stake, focusing on AI and IoT technology development[15] - The company reported an investment income of ¥8,698,996.16 for the first three quarters of 2021, compared to ¥1,565,506.85 in the previous year[22] Financial Health - The company’s total equity attributable to shareholders was ¥694,558,794.96 at the end of the reporting period, up 3.24% from the previous year[6] - The company reported an unallocated profit of 115,040,767.72, reflecting strong retained earnings[31] - The capital reserve stood at 489,748,360.66, showcasing robust financial backing[31] - The company maintains a strong capital structure with a significant equity base[31] - The financial report reflects a comprehensive overview of the company's fiscal health as of Q3 2021[31]

Financial Performance - The company reported a significant increase in revenue for the first half of 2021, with total revenue reaching 500 million RMB, representing a year-on-year growth of 25%[11]. - The company's operating revenue for the first half of 2021 was ¥105,464,345.40, representing a 23.67% increase compared to the same period last year[19]. - The net profit attributable to shareholders for the same period was ¥25,206,883.04, a decrease of 13.17% year-on-year[19]. - The basic and diluted earnings per share were both ¥0.50, reflecting a decline of 35.06% compared to the same period last year[18]. - Operating profit was 28.54 million yuan, a decrease of 8.60% year-on-year, while net profit attributable to shareholders was 25.21 million yuan, down 13.17%[88]. - The net cash flow from operating activities was ¥8,272,924.09, down 20.99% from the previous year, primarily due to a 47.40% increase in cash paid to employees[20]. Research and Development - The company plans to invest 100 million RMB in R&D for new technologies in the upcoming year, focusing on industrial internet solutions[11]. - The company's R&D expenditure accounted for 22.92% of operating revenue, an increase of 6.52 percentage points year-on-year[18]. - R&D expenses increased by 72.84% year-on-year, totaling approximately ¥24.17 million, representing 22.92% of operating revenue[67]. - The number of R&D personnel increased to 175, representing 38.98% of the total workforce, up from 33.05% in the previous period[80]. - The company achieved a total of 28 new intellectual property applications during the reporting period, with 21 granted, bringing cumulative totals to 251 applications and 164 grants[66]. Market Expansion and Strategy - The company is expanding its market presence, targeting an increase in market share by 15% in the next year through strategic partnerships and marketing initiatives[11]. - The company provided a positive outlook for the second half of 2021, projecting a revenue increase of 30% compared to the first half, aiming for a total revenue of 650 million RMB[11]. - The company is focused on the digitalization of industrial systems, which provides a good opportunity for business development[20]. - The company is actively developing new technologies in smart cities and rail transit, including an edge distributed AI analysis system and TSN technology[90]. - The company has built a strong reputation and customer base, including partnerships with major enterprises like State Grid and China CNR[84]. Product Development and Innovation - New product development is underway, with the launch of two innovative communication technologies expected by Q4 2021, which are anticipated to enhance market competitiveness[11]. - The company has established a comprehensive product system, including industrial Ethernet switches and wireless products, to meet the demands of various industries[27]. - The company has developed a modular product technology that integrates software and hardware, offering high reliability and efficiency, applicable in smart cities and various industrial communication fields[58]. - The company has launched and mass-produced the TBW6200 series of dual-layer Ethernet switches, totaling 4 models, enhancing communication solutions for subway PIS systems[72]. - The company has developed a multi-protocol conversion platform with leading performance, aimed at enhancing data transmission capabilities in complex industrial networks[72]. Risks and Challenges - The company has no significant risks impacting operations, ensuring a stable business environment for growth and expansion[3]. - The company faces risks related to the fluctuation of key raw material supplies, particularly chips, which are primarily sourced from overseas suppliers[101]. - The company is at risk of losing key technical R&D personnel due to high competition for talent in the industrial internet communication sector[99]. - The expiration of the high-tech enterprise certificate in November 2021 could lead to an increase in the corporate income tax rate from 15% to 25% if not renewed[103]. - The company is exposed to macroeconomic risks, including uncertainties from the ongoing COVID-19 pandemic and international trade tensions, which may impact future demand[105]. Corporate Governance and Compliance - The company remains committed to corporate governance, with all board members present at the meeting, ensuring transparency and accountability[4]. - There are no non-operational fund occupations by controlling shareholders, maintaining financial integrity[6]. - The company has not reported any environmental violations or penalties during the reporting period[132]. - The company continues to comply with environmental regulations and has not faced any administrative penalties related to environmental issues[132]. - The company has committed to a share lock-up period of 36 months from the date of listing, starting from May 10, 2020, which has been strictly adhered to by the controlling shareholders and key personnel[135]. Financial Management and Investments - The company has approved the use of up to RMB 25,000 million of temporarily idle raised funds for cash management, ensuring compliance with relevant regulations[192]. - The total amount of raised funds is RMB 38,440.08 million, with RMB 15,632.79 million invested in the current year[192]. - Cumulative investment in raised funds reached RMB 15,861.24 million, with a shortfall of RMB 22,578.84 million compared to the committed investment amount[192]. - The company has initiated a stock repurchase plan to stabilize its stock price, with a maximum repurchase price not exceeding the latest audited net asset value per share[161]. - The company will strengthen the management of raised funds to ensure their proper and effective use, with a focus on designated investment projects as outlined in the prospectus[173].

Financial Performance - Operating revenue for the period was ¥38,816,423.51, representing a year-on-year increase of 39.62%[7] - Net profit attributable to shareholders was ¥5,772,229.92, a decrease of 21.59% compared to the same period last year[7] - Basic and diluted earnings per share were both ¥0.11, down 42.11% from ¥0.19 in the same period last year[7] - Total operating revenue for Q1 2021 reached ¥38,816,423.51, a 39.7% increase from ¥27,800,758.48 in Q1 2020[50] - Net profit for Q1 2021 was ¥5,772,229.92, a decrease of 21.5% compared to ¥7,361,485.16 in Q1 2020[51] - The total profit for Q1 2021 was ¥5,827,523.42, down from ¥7,717,721.08 in Q1 2020[51] - The company's net profit for Q1 2021 was ¥6,266,885.29, a decrease of 15.1% compared to ¥7,391,460.81 in Q1 2020[55] - Operating profit for Q1 2021 was ¥6,317,570.92, down from ¥7,726,984.56 in the same period last year, reflecting a decline of 18.2%[55] Cash Flow - The net cash flow from operating activities was ¥8,304,576.94, a significant increase of 357.07% year-on-year[7] - Cash inflow from operating activities totaled ¥52,216,796.40 in Q1 2021, compared to ¥30,891,858.16 in Q1 2020, representing an increase of 69.0%[57] - The net cash flow from operating activities was ¥8,304,576.94, a significant increase from ¥1,816,927.53 in Q1 2020[58] - The company reported cash outflow from investing activities of ¥432,644,066.21 in Q1 2021, compared to ¥100,201,403.24 in Q1 2020[58] - The net cash flow from investing activities was -¥311,844,612.09, indicating a substantial increase in investment activities compared to -¥100,201,403.24 in the previous year[58] - The company experienced a net cash outflow from financing activities of -¥18,135,000.32 in Q1 2021, compared to an inflow of ¥4,300,000.00 in Q1 2020[59] Assets and Liabilities - Total assets at the end of the reporting period reached ¥766,042,009.29, an increase of 0.98% compared to the end of the previous year[7] - The company's cash and cash equivalents decreased by 71.90% to RMB 12,572.60 million from RMB 44,738.08 million at the end of 2020[18] - The trading financial assets increased from ¥100,000,000.00 at the end of 2020 to ¥390,000,000.00, marking a growth of 290%[43] - Total liabilities increased to ¥87,296,212.11, compared to ¥85,827,120.04 in the previous year[49] - Current liabilities reached $85.83 million, primarily driven by accounts payable of $44.89 million and short-term borrowings of $12.09 million[68] Shareholder Information - The total number of shareholders at the end of the reporting period was 5,361[14] - The top shareholder, Shenzhen Qilingdai Holdings Co., Ltd., held 20,000,000 shares, accounting for 39.58% of total shares[14] Research and Development - Research and development expenses accounted for 29.24% of operating revenue, an increase of 7.57 percentage points compared to the previous year[8] - Research and development expenses increased by 88.44% to RMB 1,135.02 million, up from RMB 602.31 million in the same period last year[27] - Research and development expenses rose to ¥11,350,244.46, an increase of 88.8% from ¥6,023,050.50 in Q1 2020[50] Other Financial Metrics - The company reported a total of ¥1,505,129.75 in non-recurring gains and losses for the period[11] - The company reported a credit impairment loss of ¥149,155.22, compared to a loss of ¥288,515.04 in Q1 2020[50] - Other income for Q1 2021 was ¥3,284,207.31, an increase from ¥2,557,884.04 in Q1 2020[50] Inventory and Receivables - The company's inventory increased from ¥55,106,436.24 to ¥65,314,074.77, representing a rise of approximately 18.5%[43] - The company's accounts receivable decreased from ¥81,429,430.78 to ¥73,571,788.59, a decline of about 9.6%[43] - The company reported a significant increase in other receivables from ¥556,727.42 to ¥2,706,493.98, which is an increase of approximately 386%[43] Investment Activities - The company’s investment income rose to RMB 79.95 million, compared to no investment income in Q1 2020[27] - The company's non-current assets increased from ¥26,653,429.08 to ¥57,697,175.76, reflecting a growth of approximately 116.5%[44]

Financial Performance - The company's operating revenue for 2020 was CNY 209,193,068.15, an increase of 21.29% compared to CNY 172,467,827.82 in 2019[23]. - The net profit attributable to shareholders for 2020 was CNY 64,432,071.61, reflecting an 11.11% increase from CNY 57,989,273.63 in 2019[26]. - The net cash flow from operating activities reached CNY 36,031,879.61, a significant increase of 42.02% compared to CNY 25,370,613.00 in the previous year[26]. - Total assets at the end of 2020 amounted to CNY 758,609,184.17, representing a 183.09% increase from CNY 267,978,244.70 at the end of 2019[26]. - The net assets attributable to shareholders increased to CNY 672,748,955.63, a growth of 200.45% from CNY 223,916,048.28 in 2019[26]. - The basic earnings per share for 2020 was CNY 1.70, up 7.59% from CNY 1.58 in 2019[24]. - The company achieved a total revenue of 54 million RMB, with a net profit of approximately 36.68 million RMB, representing a year-on-year increase of 42.54 million RMB[120]. Dividend and Share Capital - The company plans to distribute a cash dividend of 4 CNY per 10 shares, totaling approximately 20,210,998 CNY, which represents 31.37% of the net profit attributable to shareholders for 2020[5]. - The total share capital of the company is 50,527,495 shares as of the report date[5]. - The company has not proposed any capital reserve transfer to increase share capital or bonus shares for the year[5]. Research and Development - The R&D expenditure as a percentage of operating revenue was 17.58%, an increase of 1.42 percentage points from 16.16% in 2019[25]. - R&D expenses increased by 31.95% year-on-year, totaling approximately ¥36.78 million, attributed to an increase in the number of R&D personnel and their salaries[111]. - The company has applied for 28 invention patents and 16 utility model patents during the reporting period, with a total of 214 applications and 133 granted patents to date[107]. - The company has developed core technologies to address harsh industrial environments, including electromagnetic compatibility and environmental adaptability, enhancing product reliability and safety[36]. - The company has established multiple testing laboratories to support technology and product validation, enhancing its R&D capabilities[126]. Market and Industry Trends - The industrial internet market size in China grew from CNY 414.53 billion in 2016 to CNY 535.89 billion in 2018, representing a year-on-year growth of 13.8%[44]. - The projected compound annual growth rate (CAGR) for the Chinese industrial internet market is 14.1%, with an expected market size of CNY 796.04 billion by 2021[44]. - The penetration rate of industrial Ethernet in China remains low, suggesting substantial potential for market expansion[46]. - The company is actively expanding its presence in high-end applications across various sectors, including smart cities, mining, and rail transportation[49]. - The demand for industrial internet communication products in the railway sector is expected to grow significantly due to ongoing electrification and the large-scale construction of high-speed rail passenger lines[72]. Operational Risks and Compliance - The company has disclosed various operational risks and corresponding countermeasures in the report[4]. - The company emphasizes the importance of reading the report carefully to understand investment risks[4]. - There are no non-operating fund occupations by controlling shareholders or related parties[7]. - The company has not violated decision-making procedures for external guarantees[7]. - The company faces risks related to the potential leakage of core technologies, which could harm its competitive edge[146]. - There is a significant risk of losing key technical personnel, which could adversely affect the company's innovation capabilities[147]. Product Development and Innovation - The company has developed a modular product technology that integrates software and hardware, offering high efficiency and reliability, applicable in smart cities and various industrial sectors[95]. - The company has introduced a self-healing architecture that effectively avoids communication failures caused by master station outages, improving fault recovery efficiency[96]. - The company’s SW-Ring redundancy algorithm supports various networking methods and ensures communication continuity during network failures, with recovery times under 2ms[96]. - The company has successfully launched a vehicle-mounted gateway product for rail transit, meeting the demand for domestic chip localization in industrial Ethernet communication devices[103]. - The company has developed a new oilfield remote terminal device that integrates various industrial bus protocols, enhancing customization capabilities for clients[128]. Financial Management - The total amount of non-recurring gains and losses for 2020 was CNY 4.5 million, reflecting the company's ability to manage non-operational financial impacts effectively[31]. - The company received government subsidies amounting to CNY 2.48 million in 2020, which positively impacted its financial performance[30]. - The gross profit margin decreased by 1.64 percentage points due to changes in revenue recognition and increased operating costs, which rose by 27.24%[139]. - The company reported a significant increase in inventory levels, with a 50.41% rise in total inventory compared to the previous year[161]. - The net cash flow from investing activities was -124,895,664.14 RMB, a decrease of 700.47% due to increased investments in structured deposits[177]. Strategic Partnerships and Market Expansion - The company has established strong partnerships with major clients, including state-owned enterprises and listed companies, enhancing its market recognition[50]. - The company maintains strong partnerships with major clients such as State Grid and China Railway, fostering collaborative development and customer loyalty[128]. - The company is focused on expanding its multi-industry layout and application scenarios, enhancing its market share in high-end fields[130]. - The company expanded its market presence in East China, North China, and South China, contributing to overall revenue growth[139].