证券代码：688787 证券简称：海天瑞声 北京海天瑞声科技股份有限公司 投资者关系活动记录表 编号：2022-003 | --- | --- | --- | |----------------------|-------------------------|----------------------------| | | | | | 投资者关系活动类别 | √ 特定对象调研 | □ 分析师会议 | | | □ 媒体采访 □ | 业绩说明会 | | | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 √ | 电话会议 | | | □ 其他 | （请文字说明其他活动内容） | | 参与单位名称及人员姓 | 民生证券 王桐 | 李喆峰 | | 名 | 冰河资本 刘春茂 | | | | SECF 公司 李瑞森 | | | | 创金合信 郭镇岳 | | | | 汇添富 夏正安 | | | | 南方基金 罗安安 | | | | 华商基金 金曦、戴福宏 | | | | 博时基金 肖瑞瑾、王赫 | | | | 中庚基金 谢钊懿 | | | | 万家基金 胡文超 | | | | 华夏久盈 周武 | | | | ...

证券代码：688787 证券简称：海天瑞声 北京海天瑞声科技股份有限公司 投资者关系活动记录表 编号：2022-004 | --- | --- | --- | |----------------------|-------------------------------|---------------------------------------| | | | | | 投资者关系活动类别 | √ 特定对象调研 | □ 分析师会议 | | | □ 媒体采访 □ | 业绩说明会 | | | □ 新闻发布会 □ | 路演活动 | | | □ 现场参观 √ | 电话会议 | | | □ 其他 | （请文字说明其他活动内容） | | 参与单位名称及人员姓 | 天风证券 张若凡 | | | 名 | 华泰柏瑞基金 | 杜聪、方纬、谭笑、方纬、莫倩、曾懿之 | | | 嘉实基金 | 王鑫晨、谢泽林、陈涛、何鸣晓、刘志明 | | | 嘉实基金 谢泽林 | | | | 泰达宏利基金 孙硕 | | | | 兴华基金 高伟绚 | | | | 天弘基金 杜昊、盛贤 | | | | 华安基金 | 雷蒙、王春、张亮 | | | | | ...

[Key Financial Data](index=1&type=section&id=%E4%B8%80%E3%80%81%20%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE) [Key Accounting Data and Financial Indicators](index=1&type=section&id=%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) The company's Q3 2022 revenue grew significantly year-over-year, though net profit attributable to shareholders remained negative Key Financial Indicators for Q3 2022 and YTD Q3 2022 | Item | Q3 2022 | YoY Change (%) | YTD Q3 2022 | YTD YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 52,375,032.05 CNY | 111.41% | 167,159,474.03 CNY | 27.82% | | Net Profit Attributable to Shareholders | -794,570.29 CNY | N/A | 18,630,805.37 CNY | -27.39% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) | -3,969,136.75 CNY | N/A | 4,270,658.74 CNY | -77.76% | | Net Cash Flow from Operating Activities | -228,300 CNY (Est) | N/A | -3,663,639.47 CNY | N/A | | Basic Earnings Per Share (CNY/Share) | -0.02 | N/A | 0.44 | -42.86% | | Total R&D Investment | 21,453,937.09 CNY | 42.67% | 64,135,012.73 CNY | 64.26% | | Total Assets (End of Period) | 849,677,937.41 CNY | | | 1.07% (vs End of Prior Year) | | Equity Attributable to Shareholders (End of Period) | 817,163,012.21 CNY | | | 1.40% (vs End of Prior Year) | [Non-recurring Profit and Loss Items and Amounts](index=2&type=section&id=%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%92%8C%E9%87%91%E9%A2%9D) Non-recurring gains of ¥14.36 million, primarily from government subsidies and investment income, significantly supplemented net profit Non-recurring Profit and Loss Items (YTD) | Item | YTD Amount (CNY) | Description | | :--- | :--- | :--- | | Government Subsidies | 6,391,307.00 | Mainly subsidies for "Specialized, Refined, Unique, and Innovative" enterprises and listing incentives | | Investment Income from Wealth Management | 10,313,981.75 | Income from purchasing principal-protected, floating-rate bank wealth management products | | **Total** | **14,360,146.63** | | [Analysis of Changes in Key Financial Indicators and Reasons](index=4&type=section&id=%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87%E5%8F%91%E7%94%9F%E5%8F%98%E5%8A%A8%E7%9A%84%E6%83%85%E5%86%B5%E3%80%81%E5%8E%9F%E5%9B%A0) Revenue growth was driven by data services, while increased R&D and operational investments led to a decline in net profit - Q3 operating revenue **grew by 111.41% YoY**, primarily driven by: - Domestic business: Boosted by deliveries of basic training data orders and intelligent driving data services - Overseas business: Benefited from post-pandemic normalization and global strategy implementation, with **nearly 140% YoY growth**[11](index=11&type=chunk) - The intelligent driving business achieved significant results, adding 14 new clients in the first three quarters with **order value growing over 200% YoY**, becoming a core pillar for sustainable revenue growth[11](index=11&type=chunk)[12](index=12&type=chunk) - The YTD **decline in net profit (-27.39%)** and **non-recurring net profit (-77.76%)** was mainly due to increased strategic investments, especially in R&D, with R&D expenses **growing 64.26% YoY** and R&D personnel increasing by **49.21% YoY**[12](index=12&type=chunk)[13](index=13&type=chunk) [Shareholder Information](index=6&type=section&id=%E4%BA%8C%E3%80%81%20%E8%82%A1%E4%B8%9C%E4%BF%A1%E6%81%AF) [Shareholder Holdings](index=6&type=section&id=%E6%99%AE%E9%80%9A%E8%82%A1%E8%82%A1%E4%B8%9C%E6%80%BB%E6%95%B0%E5%92%8C%E8%A1%A8%E5%86%B3%E6%9D%83%E6%81%A2%E5%A4%8D%E7%9A%84%E4%BC%98%E5%85%88%E8%82%A1%E8%82%A1%E4%B8%9C%E6%95%B0%E9%87%8F%E5%8F%8A%E5%89%8D%E5%8D%81%E5%90%8D%E8%82%A1%E4%B8%9C%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%E8%A1%A8) As of the reporting period end, the company had 3,504 common shareholders, with the controlling shareholder holding 20.26% - At the end of the reporting period, the total number of common shareholders was **3,504**[15](index=15&type=chunk) Top Ten Shareholders | Shareholder Name | Shareholding Ratio (%) | Shareholder Type | | :--- | :--- | :--- | | He Lin | 20.26 | Domestic Natural Person | | Beijing Zhongruian Investment Center (Limited Partnership) | 11.58 | Other | | CMBI Investment Management Co, Ltd | 9.01 | State-owned Legal Person | | Tang Difei | 8.36 | Domestic Natural Person | | Beijing Qingde Investment Center (Limited Partnership) | 5.95 | Other | | Shanghai Fengwan Investment Partnership (Limited Partnership) | 4.39 | Other | | Beijing Zhongruili Investment Center (Limited Partnership) | 4.31 | Other | | China Internet Investment Fund (Limited Partnership) | 3.01 | Other | | Shanghai Xingfu Venture Capital Management Center (Limited Partnership) | 2.86 | Other | | Huatai Haitianshengjiayuan No.1 Sci-Tech Board Employee Stock Ownership Collective Asset Management Plan | 2.50 | Other | - Key shareholder relationships: - Controlling shareholder He Lin is associated with the second-largest shareholder Beijing Zhongruian and the seventh-largest shareholder Beijing Zhongruili - The indirect controlling shareholder of the third-largest shareholder CMBI, China Mobile, is also a limited partner of the China Internet Investment Fund[18](index=18&type=chunk) [Other Important Matters](index=9&type=section&id=%E4%B8%89%E3%80%81%20%E5%85%B6%E4%BB%96%E6%8F%90%E9%86%92%E4%BA%8B%E9%A1%B9) [Industry Policy Updates and Impact](index=10&type=section&id=%E6%9C%80%E6%96%B0%E8%A1%8C%E4%B8%9A%E6%94%BF%E7%AD%96%E5%8F%8A%E5%AF%B9%E6%9C%AC%E5%85%AC%E5%8F%B8%E5%BD%B1%E5%93%8D) New regulations requiring surveying qualifications for autonomous driving data benefit the company's compliant operations - The Ministry of Natural Resources issued new regulations classifying data collection, storage, transmission, and processing for intelligent connected vehicles as surveying and mapping activities, requiring practitioners (domestic entities) or their clients to obtain the necessary qualifications[20](index=20&type=chunk) - The company obtained a **Grade B surveying and mapping qualification** in the first half of 2022, establishing a foundation for business compliance and expansion, with plans to develop integrated data collection and annotation services[21](index=21&type=chunk) [Progress on Property Purchase](index=10&type=section&id=%E5%85%B3%E4%BA%8E%E8%B4%AD%E4%B9%B0%E6%88%BF%E4%BA%A7%E7%9A%84%E6%9C%80%E6%96%B0%E8%BF%9B%E5%B1%95) The company is proceeding with a property purchase to support R&D expansion, funded by raised and internal capital - The company plans to purchase property for a total price not exceeding **¥241.5 million** to be used for fund-raising projects and R&D offices, funded by **¥106.74 million** from raised capital and the company's own funds[22](index=22&type=chunk) - The property purchase has been approved by the company's Board of Directors, Supervisory Committee, and shareholders' meeting, and is currently in progress[22](index=22&type=chunk)[23](index=23&type=chunk) [Quarterly Financial Statements](index=11&type=section&id=%E5%9B%9B%E3%80%81%20%E5%AD%A3%E5%BA%A6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) [Financial Statements](index=11&type=section&id=%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) [Consolidated Balance Sheet](index=11&type=section&id=%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) The company's total assets stood at ¥850 million with a stable financial structure and a low debt-to-asset ratio Key Balance Sheet Items (Unit: CNY) | Item | September 30, 2022 | December 31, 2021 | | :--- | :--- | :--- | | **Total Assets** | **849,677,937.41** | **840,663,396.09** | | Cash and Cash Equivalents | 269,664,927.35 | 277,703,399.65 | | Trading Financial Assets | 418,416,026.03 | 418,011,036.99 | | Accounts Receivable | 100,739,952.83 | 90,196,484.25 | | **Total Liabilities** | **32,514,925.20** | **34,754,993.04** | | **Total Equity Attributable to Parent Company** | **817,163,012.21** | **805,908,403.05** | [Consolidated Income Statement](index=13&type=section&id=%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) Revenue grew 27.82% YTD, but rising R&D and administrative expenses led to a 27.39% decline in net profit Key Income Statement Items (YTD Q3 2022) | Item | Jan-Sep 2022 (CNY) | Jan-Sep 2021 (CNY) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 167,159,474.03 | 130,776,263.35 | +27.82% | | Cost of Goods Sold | 62,528,690.04 | 42,132,924.87 | +48.41% | | Selling Expenses | 13,173,983.63 | 9,377,694.27 | +40.48% | | General & Administrative Expenses | 35,679,441.68 | 21,111,670.87 | +69.01% | | R&D Expenses | 64,135,012.73 | 39,044,099.87 | +64.26% | | Operating Profit | 14,693,795.30 | 27,585,179.55 | -46.74% | | Net Profit Attributable to Parent Company Shareholders | 18,630,805.37 | 25,658,431.78 | -27.39% | [Consolidated Cash Flow Statement](index=16&type=section&id=%E5%90%88%E5%B9%B6%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) Operating cash outflow improved significantly due to revenue growth, while financing activities involved dividend payments Key Cash Flow Statement Items (YTD Q3 2022) | Item | Jan-Sep 2022 (CNY) | Jan-Sep 2021 (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -3,663,639.47 | -13,602,459.67 | | Net Cash Flow from Investing Activities | 3,398,720.27 | -190,158,868.41 | | Net Cash Flow from Financing Activities | -11,699,897.93 | 350,371,235.32 | | Net Increase in Cash and Cash Equivalents | -8,038,472.30 | 146,508,328.89 | | Cash and Cash Equivalents at End of Period | 269,664,927.35 | 186,772,079.11 |

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2022, representing a year-on-year increase of 15%[1]. - The company has provided a revenue guidance of RMB 2.5 billion for the full year 2022, which reflects a growth target of 10%[1]. - The company achieved operating revenue of CNY 114.78 million, an increase of 8.29% compared to the same period last year[23]. - The company reported a revenue of 115 million RMB for the first half of 2022, with a net profit of 19.43 million RMB, resulting in a net profit margin of 16.92%[53]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion in the first half of 2022, representing a year-over-year growth of 20%[184]. - The company provided a positive outlook for the next quarter, projecting a revenue growth of 25% based on new product launches and market expansion strategies[184]. User Growth - User data indicates a growth in active users by 20% compared to the same period last year, reaching 5 million active users[1]. - User data showed an increase in active users, reaching 10 million by the end of the reporting period, which is a 15% increase compared to the previous year[184]. - User data showed a growth of 15% in active users, totaling 2 million by the end of the quarter[165]. Research and Development - The company is investing RMB 300 million in R&D for new technologies, focusing on machine learning and natural language processing[1]. - The company's R&D expenditure accounted for 37.18% of operating revenue, an increase of 14.53 percentage points compared to the previous year[24]. - The total R&D investment for the reporting period reached approximately 42.68 million yuan, representing a 77.79% increase compared to the same period last year[78]. - R&D expenses increased by 77.79% to 42.68 million RMB, driven by the company's focus on technology and product development[128]. - The company has developed over 1,050 proprietary standardized training data products, establishing a strong competitive advantage in the AI training data sector[50]. - The company has accumulated core technologies and professional service capabilities over many years, allowing for more efficient and precise production of AI training data[50]. Market Expansion - Market expansion efforts include entering two new international markets, aiming for a 25% increase in overseas revenue by the end of 2022[1]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2023[184]. - The company's overseas revenue accounted for 57.14% of total revenue, with 48.50% of revenue coming from the United States[123]. - The overseas market order volume increased nearly 2.5 times year-on-year, reflecting the company's successful global market expansion strategy[110]. Strategic Initiatives - New product launches include an advanced AI training data platform, expected to enhance market competitiveness and drive revenue growth[1]. - The company announced a strategic acquisition of a tech startup for $30 million to bolster its product offerings[165]. - The company has completed a strategic acquisition of a competitor for RMB 500 million, expected to enhance its product offerings and market share[1]. - The company is exploring partnerships with leading tech firms to leverage synergies in AI development and deployment[1]. Operational Efficiency - The management highlighted a focus on improving operational efficiency, targeting a 5% reduction in operational costs by the end of the year[1]. - Operating margin improved to 18%, up from 15% in the previous quarter[165]. - The company plans to implement cost-cutting measures expected to save $20 million annually[165]. Financial Challenges - The net profit attributable to shareholders decreased by 48.63% to CNY 19.43 million, while the net profit after deducting non-recurring gains and losses dropped by 75.54% to CNY 8.24 million[23]. - The net cash flow from operating activities was negative CNY 3.44 million, a decrease of 134.53% year-on-year[25]. - The significant decrease in net profit was attributed to increased expenditures related to employee growth and strategic investments[25]. - The company faced challenges in cash flow due to the impact of the COVID-19 pandemic, which slowed down invoicing and payment collection[25]. Market Trends - The global AI market is projected to reach $221.87 billion by 2025, with a compound annual growth rate (CAGR) of 26.2%[34]. - The Chinese AI market is expected to reach $18.43 billion by 2025, with a CAGR of 24.4%[35]. - The demand for training data in AI is driven by the need for diverse and updated datasets, with approximately 1/3 of algorithms requiring monthly updates[33]. - The AI foundational data service market in China is anticipated to grow at a CAGR of 47%, potentially exceeding 12 billion yuan by 2025[37]. Compliance and Risk Management - Risk factors include potential regulatory changes that could impact operational strategies and market access[1]. - National policies are increasingly emphasizing the importance of data as a core element of the digital economy, with various regulations such as the Data Security Law and Personal Information Protection Law being implemented to ensure data safety and compliance[44][46]. - The company is exposed to risks related to data security and compliance with evolving legal regulations, which could affect its operational integrity and lead to potential litigation[118]. Shareholder and Governance - The company has implemented its first stock incentive plan, covering over 35% of employees, to align shareholder and talent value, with a focus on strategic goals for the next 2-3 years[114]. - The company will not repurchase shares held by major shareholders during the lock-up period, maintaining shareholder confidence[160]. - The company has established a clear policy on share transfer limitations to protect investor interests and market stability[160]. - The company will ensure that any stock incentive policies are linked to the execution of compensation measures[178].

Financial Performance - The company's operating revenue for Q1 2022 was ¥47,876,427.23, representing an increase of 8.22% compared to the same period last year[5]. - The net profit attributable to shareholders decreased by 42.25% to ¥9,437,853.93, while the net profit after deducting non-recurring gains and losses fell by 68.43% to ¥4,521,816.29[5]. - Basic and diluted earnings per share were both ¥0.22, down 56.86% from the previous year[6]. - The gross profit margin for Q1 2022 was 67.62%, with gross profit remaining stable compared to the previous year[9]. - The net profit for Q1 2022 was CNY 9,437,853.93, a decrease of 42.5% compared to CNY 16,341,743.76 in Q1 2021[23]. - Operating profit for Q1 2022 was CNY 9,776,167.05, down 47.3% from CNY 18,410,114.43 in the same period last year[23]. - The total comprehensive income for Q1 2022 was CNY 9,439,473.63, a decrease of 42.1% compared to CNY 16,346,115.36 in Q1 2021[24]. Cash Flow and Assets - The net cash flow from operating activities was ¥4,768,088.45, a significant decline of 74.17% year-on-year[6]. - Cash and cash equivalents as of March 31, 2022, were CNY 262,145,504.62, down from CNY 277,703,399.65 at the end of 2021[19]. - Accounts receivable decreased to CNY 75,536,438.00 as of March 31, 2022, from CNY 90,196,484.25 at the end of 2021, indicating improved cash flow management[19]. - The company experienced a net cash decrease of CNY 15,557,895.03 in Q1 2022, compared to a decrease of CNY 4,908,641.43 in Q1 2021[28]. Research and Development - The company's R&D investment totaled ¥17,934,730.30, an increase of 81.00% year-on-year, accounting for 37.46% of operating revenue, up 15.06 percentage points[6]. - The company's R&D investment accelerated in Q1 2022, with growth outpacing the revenue growth during the same period[10]. - R&D expenses in Q1 2022 reached CNY 17,934,730.30, compared to CNY 9,908,463.03 in Q1 2021, indicating a 81.5% increase year-over-year[22]. - The company plans to continue increasing R&D investments and expanding its smart driving data service business as part of its strategic layout for 2022[9]. Overseas Business Performance - In Q1 2022, the company's overseas revenue reached ¥2,353.79 million, representing a year-on-year growth of 25.21% compared to ¥1,879.90 million in Q1 2021[11]. - The scale of overseas orders and backlog orders increased significantly by 168.71% and 607.57% respectively in Q1 2022, driven by the normalization of pandemic control measures in major overseas markets[11]. - The collection ratio of accounts receivable corresponding to overseas revenue in Q1 2022 was 39.17%, with a total collection amount of ¥1,021.83 million out of ¥2,608.89 million in accounts receivable[12]. - The company reported a significant recovery in overseas business, attributed to effective resumption of work and production by overseas clients[11]. - The company is actively adjusting its internal strategies through technology R&D and sales force development to enhance overseas business performance[11]. Shareholder Information - The top shareholder, He Lin, holds 20.26% of the shares, amounting to 8,669,725 shares[15]. - The second-largest shareholder, Beijing Zhongrui'an Investment Center, holds 11.58% of the shares, totaling 4,954,128 shares[15]. - The company has a total of 4,875 common stock shareholders as of the end of the reporting period[14]. Liabilities and Equity - Total liabilities as of March 31, 2022, were CNY 23,585,868.48, down from CNY 34,754,993.04 at the end of 2021, showing a reduction in liabilities[21]. - The company's total equity as of March 31, 2022, was CNY 815,347,876.68, an increase from CNY 805,908,403.05 at the end of 2021[22].

Financial Performance - The company's operating revenue for 2021 was ¥206,476,533.04, a decrease of 11.53% compared to ¥233,373,953.01 in 2020[24]. - The net profit attributable to shareholders for 2021 was ¥31,605,431.79, down 61.49% from ¥82,081,021.91 in 2020[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥21,067,433.20, a decline of 71.15% from ¥73,015,355.36 in 2020[24]. - The net cash flow from operating activities for 2021 was -¥15,548,319.63, a decrease of 130.38% compared to ¥51,176,659.14 in 2020[24]. - The total assets at the end of 2021 were ¥840,663,396.09, an increase of 76.11% from ¥477,350,038.99 at the end of 2020[24]. - The net assets attributable to shareholders at the end of 2021 were ¥805,908,403.05, an increase of 84.02% from ¥437,956,372.58 at the end of 2020[24]. - The company achieved a revenue of 206 million RMB in 2021, with a net profit of 31.61 million RMB, resulting in a net profit margin of 15.31%[96]. - The gross profit margin for the company stands at 64.01%, indicating strong profitability compared to competitors[96]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of 2.50 RMB per 10 shares, totaling 10,700,000 RMB, which represents 33.85% of the net profit attributable to shareholders for the year[6]. - The board of directors has approved the profit distribution plan, pending approval at the annual general meeting[6]. - The company does not plan to increase capital reserves or issue bonus shares this year[6]. Research and Development (R&D) - R&D investment as a percentage of operating revenue increased by 10.67 percentage points to 29.31%[27]. - The company achieved a total R&D investment of CNY 60,520,933.71 in 2021, representing a 39.14% increase compared to CNY 43,497,496.67 in the previous year[114]. - The number of R&D personnel increased to 77, representing a 75% year-on-year growth[40]. - The company has developed 12 core technologies that support the entire training data production process, enhancing its operational capabilities[106]. - The company has made significant advancements in core technologies, including improvements in speech recognition algorithms and multi-language OCR capabilities supporting over 10 mainstream languages[109]. Market Position and Client Base - The company holds a market share of 12.9% in the Chinese AI data service industry, ranking second[95]. - The total number of clients reached 695 by the end of the reporting period, with 145 new clients added in 2021, marking the highest annual increase in five years[51]. - The company has established partnerships with 695 clients, including major tech firms like Alibaba, Tencent, and ByteDance, enhancing its market presence[95]. - The company has established itself as a leading domestic enterprise in the AI foundational data service sector, serving 695 clients across various industries including technology, finance, and education[56]. Challenges and Risks - The company faced significant challenges due to the resurgence of COVID-19 overseas and intensified industry competition, impacting overall performance[26]. - The company has a risk of core technology obsolescence due to rapid industry changes, necessitating ongoing investment in talent and technology[143]. - The company is subject to evolving data security regulations, which could impact its operations if compliance is not maintained[146]. - The company may face challenges in achieving authorized sales of its standardized training data products if they do not meet customer requirements[145]. Technological Advancements - The company has launched multiple cutting-edge technology initiatives, including voiceprint recognition and computer vision recognition[44]. - The company has developed over 930 standardized training dataset products, covering various business lines including intelligent voice, computer vision, and natural language processing[45]. - The company has developed a handwriting data collection software compatible with both iOS and Android systems, supporting global data collection capabilities[119]. - The company has completed the development of a mobile voice collection software, optimizing real-time quality control and data collection capabilities[119]. Compliance and Audit - The company has received a standard unqualified audit report from the accounting firm[5]. - The company has established a mature data security and compliance management system, achieving ISO/IEC 27001 and ISO27701 certifications, which enhances its competitive edge in data safety[139]. Sales and Marketing Strategies - The company is actively adjusting its sales strategy to counteract the impacts of the COVID-19 pandemic, including expanding its sales team and establishing new service points[50]. - The company’s overseas sales strategy was optimized for key markets including the US, Europe, Japan, and South Korea, enhancing customer engagement and brand visibility[175]. Future Outlook - The company plans to enhance its market share and R&D capabilities in response to industry changes, focusing on intelligent data processing and technology platform development[27]. - The company aims to expand its market presence and enhance its competitive edge through continuous innovation in training data solutions[56].

Financial Performance - The company's operating revenue for 2021 was ¥206,476,533.04, a decrease of 11.53% compared to ¥233,373,953.01 in 2020[24]. - The net profit attributable to shareholders for 2021 was ¥31,605,431.79, down 61.49% from ¥82,081,021.91 in 2020[24]. - The net profit after deducting non-recurring gains and losses was ¥21,067,433.20, a decline of 71.15% from ¥73,015,355.36 in 2020[24]. - The net cash flow from operating activities for 2021 was -¥15,548,319.63, a decrease of 130.38% compared to ¥51,176,659.14 in 2020[24]. - The total assets at the end of 2021 were ¥840,663,396.09, an increase of 76.11% from ¥477,350,038.99 at the end of 2020[24]. - The net assets attributable to shareholders at the end of 2021 were ¥805,908,403.05, up 84.02% from ¥437,956,372.58 at the end of 2020[24]. - The company's revenue for 2021 was approximately 206 million RMB, with a net profit of 31.61 million RMB, resulting in a net profit margin of 15.31%[96]. - The company has a comprehensive gross margin of 64.01%, indicating strong profitability compared to competitors[96]. R&D and Innovation - R&D investment accounted for 29.31% of operating revenue, an increase of 10.67 percentage points year-on-year[27]. - The company achieved a total R&D investment of CNY 60,520,933.71 in 2021, representing a 39.14% increase compared to CNY 43,497,496.67 in the previous year[114]. - The company increased its investment in basic and product R&D to improve data processing and technology platform capabilities[27]. - The company has developed 12 core technologies that support the entire process of training data production, indicating a strong focus on technological innovation[106]. - The company has accumulated 26 invention patents and 156 software copyrights, showcasing its commitment to innovation[96]. - The company has developed over 930 standardized training dataset products, ranking among the top globally in terms of large-scale, high-quality, and authorized databases[94]. Market Position and Strategy - The company has established a strong international competitive position in the AI foundational data service sector, serving 695 clients across various industries including technology, finance, and education[56]. - The company plans to enhance its market share and R&D capabilities in response to industry developments[27]. - The company has expanded its client base to 695, adding 145 new clients in 2021, the highest annual increase in five years, covering various sectors including technology, IoT, and intelligent driving[51]. - The company is actively restructuring its sales team and expanding its presence in the U.S. and emerging AI industry cities to enhance customer service and response speed amid the challenges posed by the COVID-19 pandemic[50]. - The company aims to enhance AI technology applications through tailored algorithm model training services, improving client outcomes[64]. Risks and Challenges - The report includes a detailed risk factor section, highlighting potential risks that investors should be aware of[4]. - The company faced significant pressure from intensified industry competition and the impact of COVID-19 on overseas operations[26]. - The company recognizes the risk of rapid technological iteration in the AI industry, which could impact its ability to maintain a competitive edge if it fails to adapt[143]. - The company is at risk of losing core technical personnel due to intense competition for talent in the industry, which could adversely affect its R&D capabilities[143]. - The company may face challenges in achieving authorized sales of its standardized training data products if they do not meet customer requirements, potentially impacting future operating performance[145]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from its auditing firm, ensuring the accuracy of its financial statements[5]. - The company does not have any non-operating fund occupation by controlling shareholders or related parties[9]. - There are no violations of decision-making procedures regarding external guarantees[9]. - The company has established a mature data security and compliance management system, achieving ISO/IEC 27001 and ISO27701 certifications, ensuring adherence to GDPR and other regulations[139]. Future Outlook - The AI basic data service market in China is expected to grow at a compound annual growth rate of 47% over the next five years, potentially exceeding 12 billion yuan by 2025[38]. - The company aims to strengthen its core competitiveness in training data services, focusing on high-quality, structured, and large-scale training data to meet the growing demand in the AI industry[194]. - The company plans to enhance its training data coverage in the intelligent voice sector, particularly for languages in South Asia, the Middle East, and Africa, to support multi-language expansion for downstream clients[195]. - The company intends to upgrade its integrated data processing platform and expand its R&D center to improve efficiency in developing training data products[199].

Revenue and Profit - Revenue for Q1 2022 was CNY 47,876,427.23, representing an increase of 8.22% year-over-year[5] - Net profit attributable to shareholders decreased by 42.25% to CNY 9,437,853.93[5] - Net profit excluding non-recurring gains and losses fell by 68.43% to CNY 4,521,816.29[5] - The total operating revenue for Q1 2022 was CNY 47,876,427.23, an increase of 14.9% compared to CNY 44,238,877.46 in Q1 2021[21] - Net profit for Q1 2022 was CNY 9,437,853.93, down from CNY 16,341,743.76 in Q1 2021, reflecting a decrease of approximately 42.5%[23] - The total comprehensive income for Q1 2022 was CNY 9,439,473.63, compared to CNY 16,346,115.36 in Q1 2021, reflecting a decline of about 42.3%[23] Cash Flow and Assets - Net cash flow from operating activities was CNY 4,768,088.45, down 74.17% compared to the previous year[6] - The company reported a net cash flow from operating activities of CNY 4,768,088.45 in Q1 2022, a significant decline from CNY 18,456,157.25 in Q1 2021[25] - Cash and cash equivalents as of March 31, 2022, were CNY 262,145,504.62, down from CNY 277,703,399.65 as of December 31, 2021, representing a decrease of 5.2%[18] - Total current assets amounted to CNY 807,566,153.97, slightly down from CNY 808,923,521.70 at the end of 2021, indicating a decrease of 0.2%[18] - Accounts receivable decreased to CNY 75,536,438.00 from CNY 90,196,484.25, a decline of 16.3%[18] - Inventory increased to CNY 11,887,347.83 from CNY 8,545,495.27, reflecting a growth of 39.3%[18] - Total liabilities decreased to CNY 23,585,868.48 from CNY 34,754,993.04, a reduction of 32.1%[20] - Total equity attributable to shareholders increased to CNY 815,347,876.68 from CNY 805,908,403.05, an increase of 1.8%[20] - Cash and cash equivalents at the end of Q1 2022 totaled CNY 262,145,504.62, down from CNY 35,355,108.79 at the end of Q1 2021[26] Research and Development - R&D investment totaled CNY 17,934,730.30, an increase of 81.00% year-over-year[6] - R&D expenditure accounted for 37.46% of revenue, up 15.06 percentage points from the previous year[6] - R&D expenses increased by 802.63 million, representing an 81.00% year-on-year growth rate, which was a core factor leading to the profit decline[9] - Research and development expenses rose significantly to CNY 17,934,730.30 in Q1 2022, compared to CNY 9,908,463.03 in Q1 2021, marking an increase of about 80.8%[22] Earnings Per Share - Basic and diluted earnings per share were both CNY 0.22, a decrease of 56.86%[6] - Basic earnings per share for Q1 2022 were 0.22 yuan, a decrease of 56.86% compared to the same period last year[9] - Basic and diluted earnings per share for Q1 2022 were CNY 0.22, down from CNY 0.51 in Q1 2021, representing a decrease of approximately 56.9%[23] Employee and Compensation - The number of employees increased by 70.97% year-on-year, contributing to higher cash payments to employees[9] - The company reported a decrease in employee compensation payable from CNY 14,596,143.92 to CNY 2,741,521.36, a significant drop of 81.2%[19] Strategic Focus - The company is focusing on expanding its smart driving data services and upgrading its supply chain system as part of its strategic plan[9] Other Income and Costs - Non-recurring gains totaled CNY 4,916,037.64, with significant contributions from government subsidies and other non-operating income[8] - The total operating costs for Q1 2022 were CNY 46,751,665.41, an increase from CNY 30,494,709.15 in Q1 2021, representing a growth of approximately 53.4%[22] - The company reported other income of CNY 5,149,508.95 in Q1 2022, an increase from CNY 2,716,416.92 in Q1 2021, indicating a growth of approximately 89.6%[22] Outlook - The company has not provided any specific guidance or outlook for future performance in the report[15]

Financial Performance - The company's revenue for Q3 2021 was ¥24,774,663.82, representing a decrease of 39.33% compared to the same period last year[5] - The net profit attributable to shareholders was -¥12,156,689.84, a decline of 332.99% year-on-year[5] - The net profit after deducting non-recurring gains and losses was -¥14,490,933.13, down 597.89% from the previous year[5] - For the first nine months of 2021, the net profit attributable to shareholders was 25.6584 million yuan, a decrease of 50.48% compared to the same period last year[12] - Revenue for the first nine months of 2021 was 131 million yuan, down 8.40% year-on-year, with a stable gross margin around 68%[12] - Net profit for the third quarter of 2021 was CNY 25,658,431.78, down from CNY 51,818,932.78 in the same quarter of 2020, reflecting a decrease of approximately 50.5%[27] - Basic and diluted earnings per share for the third quarter of 2021 were both CNY 0.77, compared to CNY 1.61 in the same quarter of 2020, a decline of about 52%[28] Research and Development - Research and development expenses totaled ¥15,037,067.97 for the quarter, up 27.24% year-on-year, accounting for 60.70% of revenue[6] - R&D expenses increased by 1,042.24 million yuan, a growth rate of 36.41%, with significant investments in intelligent driving and OCR technology[12] - R&D expenses accounted for 60.70% of revenue in Q3 2021, an increase of 31.75 percentage points compared to the same period last year[13] - The company plans to continue increasing its investment in R&D and personnel to support long-term growth despite the current financial challenges[11] - The company plans to complete and launch over 150 training dataset products by mid-2022[13] - The company added over 260 new training dataset products, particularly in multilingual speech datasets and computer vision datasets[12] Assets and Liabilities - The total assets at the end of the reporting period reached ¥829,110,655.16, an increase of 73.69% compared to the end of the previous year[6] - Total assets as of September 30, 2021, were 829 million yuan, an increase of 73.69% from the end of the previous year[13] - Total liabilities for the third quarter of 2021 were CNY 29,146,387.17, a decrease from CNY 39,393,666.41 in the same quarter of 2020, indicating a reduction of about 26%[23] - The company's total equity increased to CNY 799,964,267.99 in the third quarter of 2021, compared to CNY 437,956,372.58 in the same period of 2020, reflecting an increase of approximately 82.6%[23] - The equity attributable to shareholders was 800 million yuan, up 82.66% year-on-year, primarily due to the net proceeds from the IPO[13] Cash Flow - The company experienced a cash flow from operating activities of -¥13,602,459.67 for the year-to-date[6] - The net cash flow from operating activities for the first nine months of 2021 was -13.6025 million yuan, a decrease of 131.62% compared to the previous year[12] - Cash inflow from operating activities for the first three quarters of 2021 was CNY 134,640,972.75, a decrease of 27.2% compared to CNY 184,951,954.22 in the same period of 2020[30] - Net cash outflow from operating activities in Q3 2021 was CNY -13,602,459.67, compared to a net inflow of CNY 43,012,795.95 in Q3 2020[31] - Cash inflow from investment activities in Q3 2021 was CNY 1,036,078,407.56, significantly higher than CNY 482,915,382.32 in Q3 2020, marking an increase of 114.4%[31] - The net increase in cash and cash equivalents for Q3 2021 was CNY 146,508,328.89, compared to a decrease of CNY -87,395,560.19 in Q3 2020[32] Shareholder Information - Total number of common shareholders at the end of the reporting period is 5,119[15] - The largest shareholder, He Lin, holds 8,669,725 shares, representing 20.26% of total shares[15] - The company has no preferred shareholders with voting rights at the end of the reporting period[15] - The top 10 shareholders collectively hold a significant portion of the company's shares, with the largest holding being over 20%[15] - There are no significant changes in the status of pledged, marked, or frozen shares among the top shareholders[15]