Financial Performance - The company achieved operating revenue of CNY 100,864,302.10, representing an increase of 86.47% compared to the same period last year[4]. - Net profit attributable to shareholders decreased by 6.56% to CNY 8,810,103.71; however, excluding share-based payment impacts, net profit increased by 76.49% to CNY 16,641,421.90[4][6]. - The basic earnings per share (EPS) decreased by 29.52% to CNY 0.18 due to a 34% increase in the number of shares outstanding compared to the previous year[6]. - Total profit decreased by 30.75% year-on-year, leading to a reduction in income tax expenses by CNY -1.6783 million[11]. - The net profit for Q1 2022 was ¥8,810,103.71, a decrease of 6.5% from ¥9,428,982.21 in Q1 2021[22]. Research and Development - Research and development (R&D) expenses totaled CNY 26,683,882.20, accounting for 26.46% of operating revenue, a decrease of 4.46 percentage points year-on-year[5]. - R&D expenses increased by 33.44% year-on-year to CNY 5.954 million in Q1 2022[11]. - The company had 65 new R&D projects initiated during the quarter, with a total order backlog (including verbal orders) of CNY 505 million[5]. - Research and development expenses increased to ¥26,683,882.20 in Q1 2022, up 59.7% from ¥16,725,066.94 in Q1 2021[21]. Cash Flow and Liquidity - The company reported a net cash flow from operating activities of -CNY 60,120,736.32, indicating a significant cash outflow during the quarter[4]. - The company's cash flow from operating activities showed a net outflow, indicating ongoing challenges in operational efficiency[25]. - Cash inflow from sales and services in Q1 2022 was $50,385,220, a significant increase from $22,229,653 in Q1 2021, representing a growth of 126%[25]. - Net cash flow from operating activities in Q1 2022 was -$60,120,736, slightly worse than -$58,844,583 in Q1 2021[25]. - The ending cash and cash equivalents balance for Q1 2022 was $146,840,309.97, a significant increase from $2,873,887.73 in Q1 2021[26]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,313,407,414.88, reflecting a 1.01% increase from the end of the previous year[5]. - The total liabilities decreased slightly to ¥410,190,343.77 in Q1 2022 from ¥413,648,086.58 at the end of 2021[19]. - The total equity increased to ¥903,217,071.11 as of March 31, 2022, compared to ¥886,600,032.60 at the end of 2021[19]. - The inventory as of March 31, 2022, was ¥270,194,879.51, an increase of 13.3% from ¥238,479,953.58 at the end of 2021[19]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 2,539[13]. - The top shareholder, Wang Yong, holds 29.57% of shares, totaling 14,883,750 shares[13]. - The second-largest shareholder, Du Kecheng, holds 18.10% of shares, totaling 9,112,500 shares[13]. Investment and Financial Losses - Investment income showed a loss of CNY -7.5375 million, primarily due to increased investment losses in associates[11]. - The company reported a financial loss of ¥1,438,618.71 from investments in Q1 2022, contrasting with a gain of ¥220,058.05 in Q1 2021[21]. - The company has increased its investment in associates, contributing to the investment loss reported[11]. Operational Challenges - The company experienced a 139.22% increase in operating costs, primarily due to increased sales volume and higher complexity of new product projects[10]. - The company is focusing on expanding its market presence and enhancing product complexity[11]. - The company has expanded its workforce, leading to increased compensation costs[11]. Government Support - The company received government subsidies amounting to CNY 102,800.75, which are closely related to its normal business operations[7]. Accounting Changes - The company is adapting to new accounting standards starting in 2022, which may impact future financial reporting[26].

Financial Performance - The company's operating revenue for 2021 was CNY 449,424,750.41, representing a year-on-year increase of 38.43% compared to CNY 324,665,671.87 in 2020[22]. - The net profit attributable to shareholders for 2021 was CNY 111,513,994.84, reflecting a year-on-year growth of 30.30% from CNY 85,583,973.56 in 2020[22]. - The net cash flow from operating activities increased by 135.13% to CNY 67,441,084.99 in 2021, up from CNY 28,681,901.70 in 2020[22]. - The total assets at the end of 2021 were CNY 1,300,248,119.18, marking a 116.07% increase from CNY 601,775,059.47 at the end of 2020[22]. - The equity attributable to the parent company was 886.60 million yuan, up 138.94% from the previous year[36]. - The company's net profit after deducting non-recurring gains and losses was 101.39 million yuan, a year-on-year increase of 20.49%[36]. - The company's operating costs increased by 44.85% year-on-year to RMB 174,935,862.12, slightly outpacing revenue growth due to changes in product sales structure[102]. Research and Development - The company's R&D expenditure accounted for 21.06% of operating revenue in 2021, an increase of 3.75 percentage points from 17.31% in 2020[23]. - The number of new R&D projects reached 167, representing a 45% increase from the previous year[35]. - The company achieved a total R&D investment of ¥94,642,187.29, representing a 68.39% increase compared to the previous year[67]. - The company holds a total of 34 patents and 161 software copyrights, with 10 new applications filed during the reporting period[65]. - The company has developed several original technologies, including rapid frequency hopping and high-reliability military power supply components, which are now in mass production[64]. - The company has increased its R&D personnel significantly, adding 4 new patents and 3 software copyrights, bringing the total to 34 patents and 161 software copyrights by the end of 2021[37]. Market and Business Strategy - The company plans to continue expanding its market presence and investing in new product development to sustain growth[101]. - The company aims to expand its market share in the military embedded computer sector by providing comprehensive solutions from information collection to storage, targeting various applications including airborne, missile, naval, and vehicle-mounted systems[134]. - The company is committed to increasing its R&D investment and expanding its R&D team to foster innovation and enhance its core competitiveness in the industry[134]. - The company plans to enhance its product offerings by developing new platforms and technologies, focusing on low-power, high-performance multi-core systems and advanced real-time embedded operating systems[135]. - The company is considering strategic acquisitions to bolster its product offerings, with a target of acquiring at least one company by Q2 2024[157]. Corporate Governance and Compliance - The board of directors and supervisory board confirm the authenticity and completeness of the annual report[4]. - The company has established a governance structure that ensures clear responsibilities and independent operations among its shareholders, board of directors, and management[142]. - The company adheres to national regulations regarding the confidentiality of sensitive information related to defense products, limiting the disclosure of specific data[140]. - The company has implemented a performance-based compensation system for senior management, reflecting the company's annual operating performance[191]. - The company has established a modern corporate governance structure to enhance decision-making efficiency[194]. Environmental and Social Responsibility - The company emphasizes the importance of ESG, integrating it into corporate culture for sustainable development[192]. - The company has not received any administrative penalties related to environmental issues during the reporting period[196]. - The company made a donation of 25 million yuan for charitable activities during the reporting period[199]. - The company has set up a dedicated environmental protection management team to oversee compliance with environmental regulations[198]. - The company has upgraded its environmental monitoring and hazardous waste treatment equipment to improve pollution control[194]. Risks and Challenges - The company faces risks related to core material procurement, which could impact production and military order delivery if suppliers fail to meet quality and quantity requirements[89]. - Revenue structure is influenced by changes in military and downstream customer production and assembly demands, which could significantly affect income[90]. - The company has a significant amount of accounts receivable, which may slow down cash flow and create financial pressure if major clients face payment difficulties[94]. - The company's inventory management poses risks of turnover and impairment, especially if market conditions change unfavorably[95]. - Changes in tax policies could adversely affect the company's operating performance, as current tax incentives significantly contribute to profitability[99].

Financial Performance - The company achieved operating revenue of CNY 100,259,624.84 in Q3 2021, representing a 14% increase year-over-year[3] - Net profit attributable to shareholders was CNY 22,553,384.82, a decrease of 23.21% compared to the same period last year[3] - The net profit excluding non-recurring gains and losses was CNY 17,268,551.50, down 40.62% year-over-year[3] - The company reported a basic earnings per share of CNY 0.45, down 42.31% year-over-year[4] - The company’s net profit for the first nine months of 2021 was CNY 68,288,856.13, a 50.62% increase year-over-year[5] - The company reported a net profit attributable to shareholders of 50.62 million yuan, reflecting a significant increase in operating revenue[12] - The company reported a total revenue of RMB 240,396,586.68 for the first nine months of 2021, compared to RMB 180,257,729.61 in the same period of 2020, indicating a growth of 33.4%[23] - The net profit for the first three quarters of 2021 was ¥68,288,856.13, up 50.5% from ¥45,337,067.52 in the previous year[25] - The total comprehensive income for the first three quarters of 2021 was ¥68,288,856.13, compared to ¥45,337,067.52 in the same period of 2020, indicating a growth of 50.5%[26] Research and Development - R&D investment totaled CNY 27,175,394.43, an increase of 88.79% compared to the same period last year, accounting for 27.11% of operating revenue[4] - Research and development projects surged to 140, with R&D personnel increasing by 61 to a total of 289[12] - Research and development expenses increased to ¥63,955,018.11 in the first three quarters of 2021, compared to ¥38,942,910.62 in the same period of 2020, reflecting a growth of 64.2%[24] Assets and Liabilities - Total assets reached CNY 1,139,047,270.08, reflecting an increase of 89.28% from the end of the previous year[4] - The total liabilities of the company were RMB 310,793,611.08, up from RMB 230,715,812.51, which is an increase of 34.7%[22] - The total equity of the company reached RMB 828,253,659.00, significantly higher than RMB 371,059,246.96 at the end of 2020, representing a growth of 123.5%[22] - Accounts receivable rose to RMB 344,075,335.64 from RMB 199,309,856.88, reflecting a growth of 72.6% year-over-year[20] - Inventory levels increased to RMB 232,759,091.99, compared to RMB 114,329,009.54 in the previous year, marking a rise of 103.6%[20] - Total assets amounted to approximately $601.78 million, with non-current assets totaling $33.00 million[31] - Total liabilities reached approximately $230.72 million, with current liabilities accounting for $193.61 million[32] - Shareholders' equity stood at approximately $371.06 million, reflecting a stable capital structure[32] Cash Flow and Financing - Cash flow from operating activities showed a net outflow of CNY 52,288,282.06 year-to-date[3] - The company reported a net cash flow from operating activities of -¥52,288,282.06 for the first three quarters of 2021, worsening from -¥35,501,513.48 in the previous year[27] - The company generated ¥410,375,369.81 from financing activities in the first three quarters of 2021, compared to ¥30,000,000.00 in the same period of 2020[28] - The company reported a total cash inflow from investment activities of ¥191,377,708.92 in the first three quarters of 2021, compared to ¥36,107,480.82 in the same period of 2020[27] - The company reported a significant increase in cash and cash equivalents, up 226.58% compared to the end of the previous year, primarily due to funds raised from the IPO[11] - Cash and cash equivalents at the end of the third quarter of 2021 amounted to ¥131,603,652.20, a significant increase from ¥2,641,949.16 at the end of the same period in 2020[28] Strategic Initiatives - The company plans to continue expanding its market presence and investing in new technologies[5] - The company has received inquiries from the stock exchange regarding its external investment activities, indicating ongoing strategic developments[17] - The company issued 335,600 shares of capital stock, increasing from 375,000 shares previously, reflecting a capital increase strategy[22] - The first tranche of restricted stock incentive plan involved 335,600 shares, with a vesting period of up to 48 months[18] Expenses - Operating costs rose by 45.89% year-to-date, corresponding to the increase in revenue[12] - The company’s financial expenses decreased by 30.79% year-to-date, with interest expenses down by 10.78% and interest income up by 386.16%[12] - The company’s sales expenses rose by 35.92% year-to-date, driven by increased market expansion activities[12]

Financial Performance - The company reported a significant increase in revenue for the first half of 2021, with total revenue reaching RMB 500 million, representing a year-on-year growth of 25%[12]. - The company's revenue for the first half of 2021 reached ¥174,990,779.04, representing a year-on-year increase of 60.46%[19]. - Net profit attributable to shareholders for the same period was ¥45,735,471.31, a significant increase of 186.47% compared to the previous year[19]. - Basic earnings per share rose to ¥1.10, up 155.81% from ¥0.43 in the same period last year[18]. - The weighted average return on equity increased to 8.79%, up 3.37 percentage points from 5.42% in the previous year[18]. - The total assets increased by 88.69% to ¥1,135,471,299.05 compared to the end of the previous year[19]. - The company's total comprehensive income for the first half of 2021 was ¥45,735,471.31, compared to ¥15,965,064.88 in the same period of 2020, representing an increase of approximately 186.5%[168]. Research and Development - The company has allocated RMB 50 million for research and development in advanced signal processing technologies, aiming to improve product capabilities[12]. - R&D expenses increased by 49.82% compared to the same period last year, totaling approximately ¥36.78 million[39]. - The number of new projects obtained in the first half of 2021 increased by 90% year-on-year, reaching 97 projects[39]. - The company has developed a strong R&D team with expertise in hardware, software, and various engineering fields, ensuring a competitive edge in the military embedded computing sector[50]. - The company is focused on the development of new technologies and products, including embedded multi-core parallel processing technology, to enhance its competitive edge in the market[28]. Market Expansion and Strategy - The company is expanding its market presence, targeting a 20% increase in market share in the defense electronics sector by the end of 2021[12]. - Strategic acquisitions are planned, with a focus on integrating complementary technologies to enhance product offerings and operational efficiency[12]. - A new partnership with a leading aerospace firm is expected to drive innovation and open new market opportunities in the aerospace sector[12]. - The company is focused on expanding its market presence and improving product quality to meet customer demands[46]. Product Development and Innovation - New product development includes the launch of a next-generation embedded computing system, expected to enhance performance by 40% over previous models[12]. - The company has successfully delivered products for various military projects, contributing to a continuous source of profit as technology accumulates into marketable products[27]. - New products utilizing deep learning and computer vision for precise positioning have been developed and are being integrated into various military equipment models[29]. - The company has achieved mass production of products utilizing advanced technologies for ultra-wideband reception and transmission, which are now being equipped in various models[30]. Financial Position and Cash Flow - The company experienced negative cash flow from operating activities, amounting to -¥79,364,051.92, primarily due to increased procurement costs and concentrated industry receivables in the fourth quarter[19]. - Cash inflow from operating activities totaled ¥90,629,778.83, a 43.2% increase from ¥62,936,281.03 in the first half of 2020[170]. - Cash outflow from operating activities was ¥169,993,830.75, compared to ¥113,711,541.04 in the same period of 2020, resulting in a net cash flow from operating activities of -¥79,364,051.92[170]. - The cash and cash equivalents at the end of the period amounted to ¥177,386,698.50, a 340.19% increase from ¥40,298,012.28, primarily due to funds raised from the IPO[66]. Risk Management - The company has identified potential risks, including supply chain disruptions, but has implemented strategies to mitigate these risks effectively[12]. - The company faces risks related to defense policy changes and pricing adjustments in military contracts, which could significantly impact revenue[58]. Shareholder and Governance Matters - The board has approved a profit distribution plan, ensuring shareholder returns while maintaining sufficient reinvestment for growth initiatives[12]. - The company has committed to maximizing the implementation of measures to compensate for diluted immediate returns, with timely announcements if these measures are not fulfilled[116]. - The company will comply with its profit distribution commitments as per the articles of association and future dividend plans to protect investor rights[119]. - The company has established a fundraising management system to ensure that raised funds are used legally and reasonably, with dedicated accounts for monitoring[113]. Environmental and Compliance - The company has established a set of activated carbon waste gas treatment facilities that are operating well[84]. - The company has conducted regular environmental monitoring and acceptance testing since 2018, with the latest acceptance monitoring conducted on June 29, 2020[84]. - The company has complied with all environmental protection administrative licensing requirements for its construction projects[84].

Financial Performance - Operating revenue rose by 60.92% to CNY 54,091,575.27 year-on-year[5] - Net profit attributable to shareholders was CNY 9,428,982.21, a significant recovery from a loss of CNY 2,422,408.37 in the same period last year[5] - Basic earnings per share improved to CNY 0.25 from a loss of CNY -0.06[7] - The company's revenue for Q1 2021 was ¥54,091,575.27, representing a 60.73% increase compared to ¥33,614,922.94 in Q1 2020[26] - The net profit for Q1 2021 was ¥9,428,982.21, a significant turnaround from a net loss of ¥2,422,408.37 in Q1 2020[27] - The operating profit for Q1 2021 was ¥11,090,039.91, compared to an operating loss of ¥4,224,441.30 in Q1 2020[27] - The total comprehensive income for Q1 2021 was ¥9,428,982.21, contrasting with a total comprehensive loss of ¥2,422,408.37 in Q1 2020[27] - Basic and diluted earnings per share for Q1 2021 were both ¥0.25, compared to a loss per share of ¥0.06 in Q1 2020[27] Assets and Liabilities - Total assets increased by 2.26% to CNY 615,400,376.17 compared to the end of the previous year[5] - Total liabilities as of March 31, 2021, were 234,309,407.87 RMB, slightly up from 230,715,812.51 RMB at the end of 2020[24] - Total assets as of March 31, 2021, amounted to 615,400,376.17 RMB, compared to 601,775,059.47 RMB at the end of 2020[24] - Total liabilities reached $230,715,812.51, reflecting a decrease of $10,954,780.60 from the prior period[33] - Current liabilities totaled $193,614,123.61, consistent with the previous reporting period[33] - Long-term borrowings stood at $20,000,000.00, unchanged from the prior period[33] Cash Flow - The net cash flow from operating activities was negative at CNY -58,844,583.41, compared to CNY -46,321,126.14 in the previous year[5] - Cash flow from operating activities showed a net outflow of ¥58,844,583.41 in Q1 2021, worsening from a net outflow of ¥46,321,126.14 in Q1 2020[30] - The company reported cash inflow from investment activities of ¥56,220,058.05 in Q1 2021, compared to ¥18,020,938.35 in Q1 2020[30] Research and Development - R&D expenses accounted for 30.92% of operating revenue, down by 5.99 percentage points from the previous year[7] - Research and development expenses grew by 4,319,298.42 RMB, a rise of 35%, due to an increase in the number and scale of R&D projects[20] - Research and development expenses increased to ¥16,725,066.94 in Q1 2021, up from ¥12,405,768.52 in Q1 2020, indicating a focus on innovation[26] Shareholder Information - The company reported a total of 9 shareholders at the end of the reporting period[10] - The top shareholder, Wang Yong, holds 39.69% of the shares[11] Other Financial Metrics - The weighted average return on net assets was 2.51%, a recovery from -0.84% in the same period last year[5] - Cash and cash equivalents decreased by 37,424,124.55 RMB, a decline of 93%, mainly due to lower sales collections during the period[16] - Inventory increased by 44,166,287.31 RMB, an increase of 39%, attributed to a rise in sales orders leading to higher work-in-progress and raw materials[16] - Employee compensation payable decreased by 13,771,783.34 RMB, a reduction of 71%, mainly due to the payment of 2020's accrued year-end bonuses[16] - The company completed its IPO on April 8, 2021, increasing total shares from 37.5 million to 50 million[19] - The company has adopted the new leasing standards effective January 1, 2021, impacting the accounting treatment of leases[34] - The company reported an undistributed profit of $180,257,729.61, remaining stable compared to the previous period[34] - The total non-current liabilities increased to $37,101,688.90, reflecting a rise of $10,954,780.60[33] - The company has not reported any adjustments related to the new leasing standards for prior comparative data[35]

公司代码：688636 公司简称：智明达 成都智明达电子股份有限公司 2021 年第一季度报告正文 1 / 7 2021 年第一季度报告 一、 重要提示 二、 公司主要财务数据和股东变化 2.1 主要财务数据 2021 年第一季度报告 | | | | 单位：元 币种：人民币 | | --- | --- | --- | --- | | | 本报告期末 | 上年度末 | 本报告期末比上年度末增 | | | | | 减(%) | | 总资产 | 615,400,376.17 | 601,775,059.47 | 2.26 | | 归属于上市公司 | 381,090,968.30 | 371,059,246.96 | 2.7 | | 股东的净资产 | | | | | | 年初至报告期末 | 上年初至上年报告期末 | 比上年同期增减(%) | | 经营活动产生的 | -58,844,583.41 | -46,321,126.14 | 不适用 | | 现金流量净额 | | | | | | 年初至报告期末 | 上年初至上年报告期末 | 比上年同期增减（%） | | 营业收入 | 54,091,575.27 | 33,614 ...