证券代码：000413 200413 证券简称：东旭光电东旭 B 编号：2017002 东旭光电科技股份有限公司 投资者关系活动记录表 | --- | --- | |-----------------------|----------------------------------------------------------| | | | | | √ 特定对象调研□分析师会议 | | | □ 媒体采访□业绩说明会 | | 投资者关系活动类别 | □新闻发布会□路演活动 | | | □ 现场参观 □其他 | | | 太平洋证券刘宇辙、王晨光、刘帅、谢永明；海通证券仇海南； | | | 南方基金陈卓；工商银行赵键堃、吴为超；建信基金赵兵兵； | | 参与单位名称及人员 | 星辰基金黄雨恬；摩根史丹利华鑫基金齐兴方；金域投资杨皓； | | 姓名 | 华泰柏瑞基金王林军；坤易投资张德凯；檏素资本李智峰； | | | 和君资本江志明；标朴投资周明巍 | | 时间 | 2017 年 11 月 2 日 | | 地点 | 公司会议室 | | 上市公司接待人员姓 名 | 证券部工作人员：魏梦莹、杨秀权、孙晓燕 | | 投资 ...

Group 1: Graphene Development Challenges - Graphene's application market will only open when its comprehensive application cost is lower than existing materials, indicating a need for high cost-performance ratio [3] - The production cost of graphene is closely related to its manufacturing process, with physical methods being the most cost-effective [3][4] Group 2: Solutions to Graphene Challenges - The company has improved the Hummers method for producing graphene, achieving costs below 1,000 yuan per kilogram, with future potential to reduce costs to below 100 yuan [4] - The company has identified suitable production and application pathways for graphene products, aiming to overcome development bottlenecks [4] Group 3: Graphene LED Lighting - In 2018, the company achieved sales of 180 million yuan from graphene LED lighting products, which offer significant energy savings of over 70% compared to traditional lighting [5] - The initial purchase cost of graphene LED lights is about 10% higher than traditional LED lights, but the total lifecycle cost is lower [5] Group 4: Graphene Lithium-Ion Batteries - The company is introducing graphene-based lithium-ion batteries for electric forklifts, targeting a market potential exceeding 5 billion yuan [6][7] - The global forklift sales increased from 740,000 units to 1.53 million units over nine years, with a growth rate of 9.5% [7] - The expected market size for lithium-ion batteries in forklifts could reach 5 billion yuan by 2021 [7] Group 5: Market Trends and Competition - The electric forklift market is expected to grow significantly, with electric forklifts projected to reach 300,000 units by 2021 [7] - The company does not foresee direct competition with BYD in the forklift lithium-ion battery market, as it aims to collaborate with other manufacturers [9][10] Group 6: Other Applications of Graphene - The company has partnered with the University of Manchester to develop and sell suspended graphene sensor chips, which have enhanced performance characteristics [11] - The company has installed over 38,000 units of graphene heating equipment across the country, impacting over 11,000 households [11] Group 7: Future Prospects - The company plans to enhance the research, application, and promotion of graphene products, focusing on high-value industrial applications [13] - Key directions include graphene-based lithium-ion batteries, energy-saving lighting, thermal management, and suspended graphene sensor chips [13]

证券代码：000413 200413 证券简称：东旭光电、东旭 B 东旭光电科技股份有限公司 投资者关系活动记录表 编号：2019001 | --- | --- | --- | --- | |-----------------------|---------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------- ...

Financial Performance - The company's operating revenue for the first half of 2022 was approximately ¥2.62 billion, representing a 5.04% increase compared to ¥2.49 billion in the same period last year[19]. - The net profit attributable to shareholders was approximately -¥874.17 million, an improvement of 18.01% from -¥1.07 billion in the previous year[19]. - The net cash flow from operating activities decreased by 34.19%, amounting to approximately ¥351.67 million, down from ¥534.41 million in the same period last year[19]. - The total assets at the end of the reporting period were approximately ¥61.47 billion, a decrease of 1.62% from ¥62.49 billion at the end of the previous year[19]. - The net assets attributable to shareholders decreased by 5.02%, totaling approximately ¥23.43 billion compared to ¥24.66 billion at the end of the previous year[19]. - The basic earnings per share improved to -¥0.15, a 21.05% increase from -¥0.19 in the same period last year[19]. - The company reported a net profit for the first half of 2022 of 66.29 million yuan, representing a decrease of 57% compared to the previous period[49]. - The company reported a total of RMB 7.971 billion in litigation amounts related to bond defaults and overdue financial debts as of the end of the reporting period[99]. Revenue Breakdown - The company's sales revenue for optical display materials reached RMB 1.163 billion, accounting for 44.47% of total sales revenue[26]. - The high-end equipment manufacturing business generated sales revenue of RMB 393 million, representing 15.03% of total sales revenue[27]. - Sales revenue from the new energy vehicle segment amounted to RMB 229 million, which is 8.75% of total sales revenue[28]. - The graphene technology application business achieved sales revenue of RMB 12 million, making up 0.45% of total sales revenue[29]. - The construction and installation engineering business reported sales revenue of RMB 735 million, contributing 28.08% to total sales revenue[30]. Investment and R&D - Research and development investment decreased by 10.93% to RMB 889 million[33]. - The company is focusing on R&D in new technologies, achieving breakthroughs in areas such as substrate glass and ultra-thin flexible cover glass[55]. - The company has allocated 9 million yuan for research and development of new technologies[178]. - The R&D expenses for the first half of 2022 were 22 million yuan, accounting for 4.4% of total revenue[182]. Cash Flow and Liquidity - The net cash flow from operating activities was RMB 352 million, down 34.19% due to reduced sales collections[33]. - The company reported a significant liquidity risk, with a bond default involving 956.04 million yuan in principal and interest[56]. - The company's cash and cash equivalents at the end of the reporting period amounted to CNY 9,319,383,682.50, accounting for 15.16% of total assets[41]. - The company's cash balance is 9.377 billion yuan, of which 8.577 billion yuan is restricted; total financial liabilities amount to 24.868 billion yuan, with 17.581 billion yuan of overdue debt, indicating uncertainty in the company's ability to repay[101]. Environmental Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[65]. - The total chemical oxygen demand (COD) discharge was 0.1177 tons, which is within the standard limit[65]. - The ammonia nitrogen (NH3-N) discharge was 0.00837 tons, also compliant with the discharge standards[65]. - The company has not exceeded any of the environmental discharge limits in the reporting period[66]. - The company has implemented a smoke treatment system that effectively reduces emissions from multiple production facilities[67]. Corporate Governance and Shareholder Relations - The company has established a comprehensive corporate governance structure to protect the rights of shareholders, ensuring fair and transparent communication through various platforms[88]. - The company has maintained good communication with bondholders following a bond default, ensuring transparency and responsiveness to their concerns[88]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[96]. - The company has not engaged in any violations regarding external guarantees during the reporting period[97]. Future Strategies - The company plans to improve its cash flow by accelerating inventory turnover and enhancing accounts receivable management[56]. - Future strategies include enhancing emission control technologies and expanding production capacity to meet market demand[67]. - The company plans to expand its market presence through new product launches and technological advancements in the upcoming quarters[178]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product offerings[185].

Financial Performance - The company reported a total revenue of 5.2 billion RMB for the year 2020, representing a year-on-year increase of 15%[19] - The net profit attributable to shareholders was 1.1 billion RMB, an increase of 20% compared to the previous year[19] - The company's operating revenue for 2020 was ¥7,048,745,959.08, a decrease of 59.79% compared to ¥17,528,752,785.80 in 2019[27] - The net profit attributable to shareholders for 2020 was -¥3,402,967,074.04, representing a decline of 123.37% from -¥1,523,458,244.39 in 2019[27] - In 2020, the company achieved operating revenue of RMB 7.049 billion and a net profit attributable to shareholders of RMB -3.403 billion, a year-on-year decline of 123.37%[67] - The optical display materials segment generated sales revenue of RMB 2.135 billion, benefiting from strong demand in the display panel industry, with full production and sales of liquid crystal glass substrates and cover glass products[69] - The company’s high-end equipment and technology services segment reported operating revenue of RMB 2.175 billion, maintaining stable partnerships with high-end clients like BOE despite a significant reduction in orders due to liquidity issues[72] - The new energy vehicle segment recorded sales revenue of RMB 816 million, impacted by subsidy reductions and insufficient market demand due to the pandemic[73] Investment and R&D - The company plans to invest 500 million RMB in R&D for new technologies and products in the upcoming year[19] - The company has increased its intangible assets by 183.53% compared to the beginning of the period, primarily due to the acquisition of 743 patents related to optoelectronic display technology[55] - The company has a strong R&D capability, with over 2,800 independent intellectual property rights related to liquid crystal glass substrates and high-end equipment manufacturing[59] - The company is focusing on the development of hydrogen fuel cell vehicles, enhancing product performance through innovations in hydrogen fuel cell engines and high-pressure hydrogen storage systems[51] - The company has made significant breakthroughs in R&D, achieving international leading standards in ultra-thin flexible cover glass and low-brittleness high-flexibility glass substrates, which have won multiple provincial science and technology awards[66] - The company is actively developing OLED flexible display technology, focusing on curved cover glass for mobile devices and large-sized automotive displays, with products meeting international first-class standards[70] Market Expansion and Strategy - The company aims to expand its market presence in Southeast Asia, targeting a 25% market share by 2025[19] - A strategic acquisition of a local competitor is expected to enhance production capacity by 40%[19] - The company is actively pursuing market expansion in the flexible display sector, driven by the increasing demand for flexible and diversified products[46] - The company is collaborating with local governments to establish new material industrial parks, leveraging its capabilities in high-end intelligent equipment for the TFT-LCD and OLED industries[72] - The company is focusing on new product development and market expansion strategies to recover from the revenue decline[79] Operational Efficiency and Cost Management - The company has reduced its inventory by 39.23% compared to the beginning of the period, attributed to improved inventory management practices[58] - The company is implementing organizational restructuring to reduce costs and improve efficiency, including strict expense control and competitive staffing[196] - The company reported a significant reduction in sales and management expenses due to cost-cutting measures and the application of new revenue standards[95] - The total operating cost for 2020 was ¥10,000,000,000, with significant reductions in costs across various segments[83] Risks and Challenges - The company faces potential risks related to supply chain disruptions and plans to implement mitigation strategies[19] - The company faces liquidity risks, having failed to repay a total of 1.021 billion yuan in bonds due in May 2020 and interest payments totaling 41 million yuan due in November and December 2020[197] - The company is addressing technology upgrade risks as the market shifts towards flexible display technologies, ensuring continued investment in R&D and innovation[198] Asset Management - The company has undergone changes in its consolidation scope, including the disposal of subsidiaries[84] - The company completed the sale of several subsidiaries, resulting in a loss of control and corresponding financial adjustments[87] - Major subsidiaries contributing over 10% to the company's net profit include Shanghai Shenlong Bus Co., Ltd. with a net profit of -303,659,010.79 yuan and Wuhu Dongxu Optoelectronics Co., Ltd. with a net profit of -133,978,974.84 yuan[183]

东旭光电科技股份有限公司 2020 年第三季度报告全文 东旭光电科技股份有限公司 2020 年第三季度报告 2020 年 10 月 1 东旭光电科技股份有限公司 2020 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连 带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人郭轩、主管会计工作负责人王庆及会计机构负责人(会计主管人 员)王庆声明：保证季度报告中财务报表的真实、准确、完整。 2 东旭光电科技股份有限公司 2020 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | --- | |----------------------------------------------------------------------|---------------------------------------------------------------|- ...

Financial Performance - The company's operating revenue for 2019 was ¥17,528,752,785.80, a decrease of 37.87% compared to ¥28,211,700,021.12 in 2018[31]. - The net profit attributable to shareholders for 2019 was -¥1,523,458,244.39, representing a decline of 170.41% from ¥2,163,607,505.39 in 2018[31]. - The net cash flow from operating activities for 2019 was -¥3,012,699,649.36, a significant drop of 875.96% compared to ¥388,252,004.52 in 2018[31]. - The total assets at the end of 2019 were ¥67,760,453,707.95, down 6.64% from ¥72,576,122,859.60 at the end of 2018[31]. - The company reported a basic earnings per share of -¥0.27 for 2019, a decrease of 171.05% from ¥0.38 in 2018[31]. - The company achieved a revenue of RMB 17.529 billion in the reporting period, with a net profit attributable to shareholders of RMB -1.523 billion, representing a year-on-year decline of 170.41%[67]. - The overall business revenue declined due to the combined effects of trade tensions, financial liquidity issues, and reduced subsidies for new energy vehicles[75]. Debt and Financial Management - The company reported a total debt default amounting to CNY 5.151 billion due to ineffective fund management, leading to legal disputes[7]. - The company has not disclosed timely information regarding external guarantees, which is a violation of disclosure regulations[7]. - The company is committed to improving its internal control systems to prevent future financial mismanagement[10]. - The company is actively working on improving its financial reporting accuracy and transparency to regain investor confidence[10]. - The company faced liquidity difficulties and failed to repay medium-term notes on time, resulting in a downgrade of its long-term credit rating from AA+ to C[172]. - The total cash and cash equivalents decreased by 42.00% to -¥14,481,054,227.95, primarily impacted by tightened liquidity and reduced supplier activity following the default[110]. - The net cash flow from financing activities improved by 86.99% to -¥513,712,477.97, indicating better management of financing despite overall cash flow challenges[107]. Research and Development - The company is focusing on the development of new technologies and products, particularly in the optoelectronic sector[19]. - The company plans to enhance its research and development capabilities to drive innovation in its product offerings[19]. - The company has over 2,400 independent intellectual property rights related to liquid crystal glass substrates and graphene product preparation, showcasing its strong R&D capabilities[58]. - R&D investment rose significantly by 105.59% to ¥1,225,382,230.45, accounting for 6.99% of operating revenue, with a notable increase in capitalized R&D expenses by 3,308.61% to ¥740,503,902.47[101]. - The company is committed to increasing R&D investment to enhance technological capabilities and improve production yield in response to market competition[195]. - The company acknowledges the risk of technological obsolescence and is focused on continuous innovation and product upgrades to maintain competitiveness[196]. Market Strategy and Expansion - The company aims to expand its market presence and enhance its competitive edge through strategic partnerships and acquisitions[19]. - The company is exploring opportunities in the new energy vehicle sector, aligning with market trends[19]. - The company is expanding its new energy vehicle offerings, including pure electric buses and hydrogen fuel cell buses, with a market presence across most regions of mainland China[51]. - The company plans to focus on the OLED industry, with a forecasted 50% increase in OLED panel shipments to 4.5 million units in 2020, and 6.7 million units in 2021[186]. - The company intends to expand financing channels and improve its debt structure, increasing the proportion of medium to long-term loans[189]. - The company plans to expand its market presence through the construction of additional production lines and the acquisition of related companies[165]. Operational Challenges - The company has experienced a significant decline in net profit and cash flow, indicating challenges in its operational performance[31]. - The company is committed to maintaining stable development in the face of adverse market conditions[43]. - The company anticipates challenges in the new energy vehicle market due to the withdrawal of subsidies, but aims to leverage its strengths in battery preparation and intelligent technology[187]. - The company faces risks from intensified US-China trade tensions, which could adversely affect overseas sales and operational performance if the situation escalates[193]. - The global COVID-19 pandemic has created significant macroeconomic risks, potentially leading to supply chain disruptions and impacting production materials availability[194]. - The company's core industry, optical display materials, is subject to cyclical fluctuations, which may affect market conditions and pricing in the glass substrate sector[194]. Product Development - The company is focusing on expanding its product offerings in the new materials sector, particularly in TFT-LCD glass substrates and related products[43]. - The company has developed over 20 production lines for LCD glass substrates, covering G5, G6, and G8.5 generations, and aims to produce OLED carrier glass substrates in bulk[45]. - The company has successfully developed a drop-resistant glass with a thickness of only 0.06 mm, which is compatible with 5G technology, maximizing transmission rates[46]. - The company has launched the first domestically produced graphene-based lithium-ion battery series, featuring fast charging capabilities and a long cycle life, specifically designed for industrial forklifts[49]. - The company is actively developing new products in the graphene application field in collaboration with the University of Manchester[43]. - The company is enhancing its competitive edge in the OLED flexible display materials sector by diversifying its product offerings, including anti-glare glass and automotive cover glass[46]. Investment and Subsidiaries - The company established several wholly-owned subsidiaries in 2019, including a new subsidiary with a registered capital of ¥30,000,000[90]. - The company completed the acquisition of 100% equity in Xufei Optoelectronics for 177 million yuan, with the investment fully utilized[165]. - The company has invested 220 million yuan in the new energy bus and logistics vehicle production project, with 212.43 million yuan utilized, achieving 96.56% of the planned investment[165]. - The company made a significant equity investment of ¥500,000,000.00 in Dongxu (Jinzhou) Precision Optoelectronic Technology Co., holding a 100% stake[117]. - The company has achieved a cumulative investment of 2,000.67 million yuan across its committed investment projects, with a total planned investment of 2,366.11 million yuan[165]. Cost Management - The total operating costs for optical display materials decreased by 30.78% to ¥2,592,473,741.47, accounting for 17.56% of total operating costs[86]. - The operating costs for equipment and technical services fell by 51.53% to ¥3,220,103,028.92, representing 21.81% of total operating costs[86]. - The operating costs for graphene industrial applications decreased by 50.05% to ¥54,175,218.14, making up 0.37% of total operating costs[86]. - The operating costs for new energy vehicles decreased by 9.29% to ¥2,994,526,442.07, accounting for 20.28% of total operating costs[86]. - The operating costs for construction installation dropped by 24.16% to ¥3,621,211,945.91, representing 24.52% of total operating costs[86]. - The company plans to implement cost-reduction measures and improve cash flow management to mitigate financial risks and enhance operational efficiency[200].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥2,770,888,073.71, a decrease of 67.31% compared to the same period last year[25]. - The net profit attributable to shareholders of the listed company was -¥896,816,721.92, representing a decline of 206.24% year-on-year[25]. - The net cash flow from operating activities was ¥376,087,214.61, down 36.72% from the previous year[25]. - The total assets at the end of the reporting period were ¥66,191,689,782.86, a decrease of 2.32% compared to the end of the previous year[25]. - The net assets attributable to shareholders of the listed company were ¥29,721,538,787.17, down 2.95% from the previous year[25]. - The basic earnings per share were -¥0.16, a decrease of 206.67% compared to the same period last year[25]. - The diluted earnings per share were also -¥0.16, reflecting the same decline of 206.67% year-on-year[25]. - The weighted average return on net assets was -2.97%, a decrease of 5.54% compared to the previous year[25]. - The company achieved a revenue of 2.771 billion yuan in the first half of 2020, with a net profit attributable to shareholders of -897 million yuan, representing a year-on-year decline of 67.31% and 206.24% respectively[55]. - The company's total revenue for the reporting period was ¥2,770,888,073.71, representing a 67.31% decrease compared to ¥8,475,089,222.93 in the previous year[64]. - The revenue from the new energy vehicle segment was ¥121,939,429.24, down 81.34% from ¥653,517,499.98 year-on-year, accounting for 4.40% of total revenue[68]. - The company's operating costs decreased by 62.27% to ¥2,479,375,719.85 from ¥6,571,893,216.94 in the previous year[64]. - Research and development expenses fell by 56.66% to ¥104,021,295.61, down from ¥239,995,337.32, due to ongoing liquidity issues[68]. - The company reported a significant increase in financial expenses by 57.97% to ¥581,488,048.27, attributed to higher interest expenses from mid-term notes[64]. - The construction and installation business revenue dropped by 66.03% to ¥521,018,615.55 from ¥1,533,873,637.92 year-on-year[68]. - The company experienced a 90.00% decrease in net increase in cash and cash equivalents, amounting to ¥47,053,525.82 compared to ¥470,382,603.34 in the previous year[68]. - The electronic communication products segment generated ¥407,863,647.55, down 39.05% from ¥669,208,048.08, representing 14.72% of total revenue[68]. - Revenue from mainland China was approximately ¥2.63 billion, accounting for 94.83% of total revenue, with a year-on-year decrease of 67.58%[71]. - Revenue from the optical display materials segment decreased by 53.24% year-on-year to approximately ¥918.83 million, with a gross margin of 20.60%[71]. - The company reported a significant decline in investment income, with a loss of approximately ¥175.48 million, representing 20.79% of total profit[73]. - The company's total investment during the reporting period was approximately ¥208.84 million, a decrease of 92.02% compared to the previous year[81]. - The company’s accounts receivable stood at approximately ¥10.62 billion, accounting for 16.05% of total assets, with a slight decrease of 0.69% year-on-year[77]. - The company’s inventory decreased to approximately ¥2.67 billion, representing 4.04% of total assets, down by 2.62% from the previous year[77]. - The company’s short-term borrowings were approximately ¥9.17 billion, accounting for 13.85% of total assets, with a slight increase of 0.97% year-on-year[77]. - The company reported a total of 116,248 million in bond trading disputes, which is currently unresolved[110]. - The company is facing a financial loan contract dispute with a total amount of 1,116.87 million, which remains unresolved[110]. Strategic Focus and Business Development - The company focuses on the liquid crystal glass substrate business, which is a key component in liquid crystal display devices, and has become the largest domestic producer in this field[38]. - The company has over 20 production lines for liquid crystal glass substrates, covering TFT-LCD products from G5 to G8.5 generations[38]. - The company is developing new materials such as cover glass, curved glass, and impact-resistant glass, enhancing its competitive position in the display materials industry[39]. - The company has successfully developed impact-resistant glass with a drop resistance height of 1.8 meters, significantly improving product performance[40]. - The company is actively expanding its graphene application in high-value industries, focusing on lithium-ion batteries and energy-saving lighting[43]. - The high-end equipment manufacturing business is based on the production technology of liquid crystal glass substrates, including customized equipment for various applications[44]. - The company aims to enhance its overall competitiveness in the equipment manufacturing industry by developing high-value-added innovative products[44]. - The company has expanded its new energy vehicle product line to include pure electric city buses, hydrogen fuel cell buses, hybrid city buses, and new energy logistics vehicles, covering most regions in mainland China and exporting to Southeast Asia, South Korea, and the Middle East[45]. - The company has increased its focus on hydrogen fuel cell technology, including research and development of hydrogen fuel cell engines, hydrogen production and supply, and high-pressure hydrogen storage systems, positioning itself as a leader in key technologies for new energy vehicles[45]. - The company has integrated its electronic communication business, which includes LCD display modules and storage chips, to enhance product sales channels and contribute to revenue growth[47]. - The company is actively developing flexible display technologies and has made significant progress in producing ultra-thin flexible cover glass, which has attracted further collaboration with well-known domestic and international smartphone manufacturers[57]. - The company has launched a new graphene electric heater, which has been recognized for its low power consumption and safety features, and is designed for heating solutions in various regions[58]. Risk Management and Financial Challenges - The company has detailed risk factors and countermeasures in the report, emphasizing the importance of investor awareness regarding investment risks[6]. - The company is focusing on its core business and has adjusted its strategic planning to address ongoing financial challenges and the impact of the COVID-19 pandemic[62]. - The company has faced risks including macroeconomic impacts and market competition, with no significant changes in risk management strategies reported for the first half of 2020[92]. - The company is actively communicating with creditors to resolve debt crises and has signed extension agreements with some creditors[104]. - The company is implementing measures to strengthen its financial management and control over external guarantees to mitigate risks[105]. - The company is monitoring its financial subsidiary to address liquidity issues and ensure the safety of its deposits[105]. - The company has not experienced any bankruptcy reorganization matters during the reporting period[106]. Environmental Compliance and Performance - The company has implemented measures to ensure that all reported emissions are below the regulatory thresholds, demonstrating commitment to environmental responsibility[167]. - The overall environmental performance indicates that the company is not exceeding any pollution discharge limits, reflecting effective management of environmental impact[167]. - The wastewater treatment system effectively processed wastewater before discharge into municipal pipelines, ensuring compliance with environmental regulations[167]. - The company has established a wastewater treatment facility that processes domestic sewage before it is discharged into the municipal sewage system, ensuring compliance with external discharge standards[8]. - The company has implemented pollution prevention facilities that are operational and compliant with environmental standards[176]. - The company has taken measures to ensure noise levels are within acceptable limits, with daytime levels recorded at 61 dB/A[170]. - The company has a comprehensive solid waste management strategy, utilizing general solid waste and ensuring that hazardous waste is handled by qualified third parties[8]. - The company has achieved a stable operation of environmental protection facilities, with all pollutants meeting discharge standards as of the first half of 2020[9]. - The company has invested in environmental impact assessments and has received necessary approvals for various projects, ensuring compliance with environmental regulations[8]. - The company has established an emergency response plan for environmental incidents, which has been filed with the relevant environmental authorities, enhancing its capability to respond to pollution events[193]. - The company conducts quarterly monitoring of wastewater, waste gas, and noise, ensuring compliance with environmental regulations[196]. - The company has implemented an online monitoring system for wastewater and waste gas, with real-time data uploaded to the environmental monitoring platform[197]. - The company collaborates with third-party institutions for environmental monitoring and compliance verification[197]. - Shanghai Shenlong Bus Co., Ltd. had no environmental administrative penalties in the first half of 2020, demonstrating compliance with environmental laws and regulations[200].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥2,770,888,073.71, a decrease of 67.31% compared to the same period last year[25]. - The net profit attributable to shareholders of the listed company was -¥896,816,721.92, representing a decline of 206.24% year-on-year[25]. - The net cash flow from operating activities was ¥376,087,214.61, down 36.72% from the previous year[25]. - The total assets at the end of the reporting period were ¥66,191,689,782.86, a decrease of 2.32% compared to the end of the previous year[25]. - The net assets attributable to shareholders of the listed company were ¥29,721,538,787.17, down 2.95% from the previous year[25]. - The basic earnings per share were -¥0.16, a decrease of 206.67% compared to the same period last year[25]. - The diluted earnings per share were also -¥0.16, reflecting the same decline of 206.67% year-on-year[25]. - The weighted average return on net assets was -2.97%, a decrease of 5.54% compared to the previous year[25]. - The company achieved a revenue of 2.771 billion yuan in the first half of 2020, with a net profit attributable to shareholders of -897 million yuan, representing a year-on-year decline of 67.31% and 206.24% respectively[55]. - The operating cost decreased by 62.27% to ¥2,479,375,719.85 from ¥6,571,893,216.94 year-on-year[64]. - Research and development investment fell by 56.66% to ¥104,021,295.61, down from ¥239,995,337.32 due to ongoing liquidity issues[68]. - The revenue from the new energy vehicle segment was ¥121,939,429.24, representing 4.40% of total revenue, down 81.34% from ¥653,517,499.98[64]. - The construction and installation segment generated ¥521,018,615.55, accounting for 18.80% of total revenue, a decrease of 66.03% from ¥1,533,873,637.92[64]. - The company faced a significant reduction in orders for high-end equipment and construction installation projects due to tight liquidity and the ongoing pandemic[62]. - The financial expenses increased by 57.97% to ¥581,488,048.27, primarily due to higher interest expenses from mid-term notes and reduced interest income from bank deposits[64]. - Revenue from mainland China was approximately ¥2.63 billion, accounting for 94.83% of total revenue, with a year-on-year decrease of 67.58%[71]. - Revenue from the optical display materials segment decreased by 53.24% year-on-year to approximately ¥918.83 million, with a gross margin of 20.60%[71]. - The company reported a significant decline in investment income, with a loss of approximately ¥175.48 million, representing 20.79% of total profit[73]. - The company’s total investment during the reporting period was approximately ¥208.84 million, a decrease of 92.02% compared to the previous year[81]. - The company’s accounts receivable stood at approximately ¥10.62 billion, accounting for 16.05% of total assets, with a slight decrease of 0.69% year-on-year[77]. - The company’s inventory decreased to approximately ¥2.67 billion, representing 4.04% of total assets, down 2.62% from the previous year[77]. - The company’s strategic focus has shifted towards core business areas, leading to a 39% decrease in revenue from electronic communication products[72]. - The company reported a net profit of -526,988,488.71 CNY from its subsidiary Wuhu Dongxu Guangdian Equipment Technology Co., Ltd., which contributed to a significant loss[87]. - The company has faced a net loss of -91,247,775.05 CNY from its subsidiary Dongxu Construction Group Co., Ltd.[87]. - The company’s total revenue from its subsidiaries was 1,013,041,863.12 CNY, with a total operating profit of -513,087,974.20 CNY[87]. Business Strategy and Operations - The company focuses on the liquid crystal glass substrate business, which is a key component in the liquid crystal display industry[36]. - The company has over 20 production lines for liquid crystal glass substrates, covering TFT-LCD products from G5 to G8.5 generations[38]. - The company has developed a drop-resistant glass with a drop height of 1.8 meters, significantly improving durability by 5 to 10 times[40]. - The company is actively expanding its graphene application in high-value industries, including lithium-ion batteries and energy-saving lighting[43]. - The high-end equipment manufacturing business is based on the production technology of liquid crystal glass substrates and includes customized equipment for various applications[44]. - The company is committed to enhancing its competitive position in the display materials industry through flexible and diversified product offerings[39]. - The company aims to leverage its technological advancements to capture future economic and technological development opportunities[44]. - The company has integrated its electronic communication business, which includes LCD display modules and storage chips, to enhance product sales channels and contribute to revenue growth[47]. - The company is focusing on the research and development of hydrogen fuel cell technology, including hydrogen fuel cell engines and high-pressure hydrogen storage systems, positioning itself as a leader in key technologies for new energy vehicles[45]. - The company has expanded its new energy vehicle product line to include pure electric city buses, hydrogen fuel cell buses, hybrid city buses, and new energy logistics vehicles, covering most regions in mainland China and exporting to Southeast Asia, South Korea, and the Middle East[45]. - The company is actively developing flexible display technologies and has made significant progress in producing ultra-thin flexible cover glass, which has attracted further cooperation from well-known domestic and international smartphone manufacturers[57]. - The company has launched a new graphene electric heater, which has been recognized for its low power consumption and safety features, and is designed for heating solutions in various regions[58]. - The company has leveraged its equipment manufacturing technology to support pandemic response efforts, including the production of mask machines and robots for mobile inspection and delivery in Europe[60]. Risk Management and Financial Health - The company has detailed risk factors and countermeasures in the report, emphasizing the importance of investor awareness regarding investment risks[6]. - The company is focusing on developing its core business and has divested from non-core industries to address its debt crisis[62]. - The company is actively communicating with creditors to resolve debt crises and has signed extension agreements with some creditors[104]. - The company is implementing strict controls on new external guarantees and enhancing internal management systems to mitigate risks[105]. - The company is monitoring its financial subsidiary to address liquidity issues and ensure the safety and liquidity of its deposits[105]. - The company has obtained extensions on bank loans amounting to RMB 272,943,000 and company bond principal of RMB 91,932,670, totaling an extended amount of RMB 98,184,090 in the first half of 2020[104]. - The company is involved in significant litigation, with a financial loan contract dispute amounting to RMB 404,622.2 thousand and a financing lease contract dispute of RMB 73,775.8 thousand, both pending court hearings[107]. - The company reported a total of 116,248 million in bond trading disputes, which is currently unresolved[110]. - The company is facing a financial loan contract dispute with a total amount of 1,116.87 million, which remains unresolved[110]. - The company has a total of 75,415.55 million in financial loan contract disputes, which are still pending[117]. - The company has not faced any media scrutiny during the reporting period[118]. - The total amount of corporate bonds that the controlling shareholder, Dongxu Group, has defaulted on is 4.742 billion yuan[122]. Environmental Compliance and Sustainability - Shanghai Shenlong Bus Co., Ltd. reported a total wastewater discharge of 0.384 tons for chemical oxygen demand (COD), which is below the approved limit of 18.53 tons per year[161]. - The ammonia nitrogen discharge from Shanghai Shenlong Bus Co., Ltd. was 0.0154 tons, significantly lower than the approved limit of 2.22 tons per year[161]. - The total nitrogen discharge concentration was recorded at 31.65 mg/L, with no exceedance of the standard limits[161]. - The company maintained compliance with the wastewater discharge standards, with all reported pollutants not exceeding the limits[161]. - The sulfur dioxide emissions from Shanghai Shenlong Bus Co., Ltd. were 0.051 tons, well below the approved limit of 0.508 tons per year[164]. - Nitrogen oxides emissions were reported at 0.413 tons, which is also below the approved limit of 2.376 tons per year[164]. - Particulate matter emissions were recorded at 1.156 tons, significantly lower than the approved limit of 14.651 tons per year[164]. - The company’s wastewater treatment systems effectively processed wastewater, ensuring compliance with environmental standards[167]. - The total phosphorus discharge concentration was 3.3575 mg/L, with no exceedance of the standard limits[161]. - The company has implemented advanced wastewater treatment systems to ensure environmental compliance and sustainability[167]. - The wastewater treatment system processed wastewater with ammonia nitrogen levels at 1.31 mg/L, compliant with the Liaoning provincial standards[170]. - The company has implemented a SCR denitrification system to ensure that nitrogen oxides in flue gas are reduced to N2, with the system operating continuously throughout the year to meet emission standards[6]. - The company has installed 13 cartridge dust collectors and 1 bag dust collector to manage particulate emissions during the glass production process, ensuring compliance with discharge standards[6]. - The company reported stable operation of environmental protection facilities with no unplanned shutdowns and all pollutants meeting discharge standards during the first half of 2020[9]. - The company has established a wastewater treatment facility that processes domestic sewage before it is discharged into the municipal sewage system, ensuring compliance with external discharge standards[8]. - The company has adopted low-noise equipment and implemented sound insulation measures to mitigate noise pollution in its operations[8]. - The company has a comprehensive solid waste management strategy, utilizing general solid waste and ensuring that hazardous waste is handled by qualified third parties[8]. - The company has received environmental impact assessment approvals for multiple projects, ensuring compliance with environmental regulations[8]. - The company has invested in advanced pollution control technologies to maintain compliance with air and water quality standards[6]. - The company has established a rigorous monitoring system for emissions, with real-time data uploads to ensure transparency and compliance[9]. - The company is actively pursuing clean production initiatives to enhance environmental performance and sustainability[9]. - The company completed the environmental impact assessment for the production line, receiving approval from the Henan Provincial Environmental Protection Department on February 24, 2011, for the TFT-LCD glass substrate production line project[192]. - The second phase of the project, with an annual production capacity of 2.2 million square meters of liquid crystal glass substrates, received environmental approval on November 2, 2010, and passed the completion acceptance on February 28, 2014[192]. - The company has established an emergency response plan for environmental incidents, which has been reviewed and filed with the relevant environmental authorities[193]. - The company conducts quarterly monitoring of wastewater, waste gas, and noise, ensuring compliance with national and local environmental regulations[196]. - The company has implemented an online monitoring system for wastewater and waste gas, with real-time data uploaded to the environmental monitoring platform[197]. - The company has not reported any exceedances in pollutant emissions to date, indicating effective environmental management practices[197]. - The company plans to conduct emergency drills for environmental incidents in the second half of 2020[193]. - The company has established a comprehensive environmental management system, including pollution prevention measures and public participation in risk analysis[193]. - The company collaborates with third-party institutions for environmental monitoring and compliance verification[197]. - Shanghai Shenlong Bus Co., Ltd. had no environmental administrative penalties in the first half of 2020, demonstrating compliance with environmental laws and regulations[200]. - Guangxi Shenlong Automobile Manufacturing Co., Ltd. completed the application for the pollutant discharge permit on May 16, 2019, and prepared the discharge permit execution report for the first and second quarters of 2020[200]. - Fuzhou Dongxu Optoelectronic Technology Co., Ltd. has publicly disclosed its environmental self-monitoring information on its official website[200]. - Chengdu Dongxu Intelligent Technology Co., Ltd. invested heavily in advanced treatment systems for wastewater, waste gas, and noise, aligning with its green environmental protection image[200]. - Sichuan Xuhong Optoelectronic Technology Co., Ltd. publicly disclosed its environmental administrative licensing procedures and pollutant discharge information[200]. - Wuhu Dongxu Optoelectronic Co., Ltd. has made its environmental impact assessment and acceptance information available on the designated platform[200]. - Wuhu Dongxu Optoelectronic Equipment Technology Co., Ltd. completed the registration of fixed pollution sources on June 11, 2020[200]. - Zhengzhou Xufei Optoelectronic Technology Co., Ltd. is included in the Henan Province environmental credit information management system, indicating compliance with local environmental regulations[200].

Financial Performance - The company's operating revenue for 2019 was ¥17,528,752,785.80, a decrease of 37.87% compared to ¥28,211,700,021.12 in 2018[31]. - The net profit attributable to shareholders for 2019 was -¥1,523,458,244.39, representing a decline of 170.41% from ¥2,163,607,505.39 in 2018[31]. - The net cash flow from operating activities for 2019 was -¥3,012,699,649.36, a significant drop of 875.96% compared to ¥388,252,004.52 in 2018[31]. - The total assets at the end of 2019 were ¥67,760,453,707.95, down 6.64% from ¥72,576,122,859.60 at the end of 2018[31]. - The company reported a basic earnings per share of -¥0.27 for 2019, a decrease of 171.05% from ¥0.38 in 2018[31]. - The company achieved a revenue of RMB 17.529 billion in the reporting period, with a net profit attributable to shareholders of RMB -1.523 billion, representing a year-on-year decline of 170.41%[67]. Debt and Financial Management - The company reported a total debt default amounting to CNY 5.151 billion due to ineffective execution of financial management controls[7]. - The company provided guarantees totaling CNY 3.85 billion to eight non-related parties, which did not comply with internal control regulations[7]. - The company did not disclose external guarantees in a timely manner, violating disclosure regulations[7]. - The company’s financial report received a qualified opinion from the auditor due to significant deficiencies in financial management[7]. - The company is facing liquidity challenges due to excessive expansion and management issues, leading to a default on medium-term notes in the fourth quarter[67]. - The company has faced challenges due to macroeconomic conditions and industry downturns, leading to a decline in revenue across all business segments in the fourth quarter[75]. - The company has experienced short-term liquidity issues, leading to missed bond payments, and is implementing measures to improve cash flow and reduce costs[168]. Strategic Initiatives and Future Plans - The company plans to enhance its market expansion strategies and product development in the upcoming fiscal year[7]. - The company aims to improve its internal control systems to prevent future financial discrepancies[7]. - The company is focusing on the development of new technologies and products in the optoelectronic sector[7]. - The company is exploring potential mergers and acquisitions to strengthen its market position[7]. - The company is actively expanding into the new energy vehicle and graphene sectors, aiming to create a closed-loop industry chain from high-end materials to graphene-based lithium-ion batteries[60]. - The company plans to streamline its asset structure by divesting non-core assets to improve operational efficiency and stabilize cash flow[156]. - The company plans to expand financing channels and improve its debt structure by increasing the proportion of medium to long-term loans and maintaining reasonable cash reserves[157]. Research and Development - The company has over 2,400 independent intellectual property rights related to liquid crystal glass substrates and graphene product preparation, enhancing its R&D capabilities[58]. - The company has maintained a strategic focus on high-end equipment manufacturing, leveraging its proprietary technology for glass substrate production[44]. - The company is actively developing new products in the graphene application field in collaboration with the University of Manchester[44]. - Total R&D investment rose significantly by 105.59% to ¥1,225,382,230.45 in 2019 from ¥596,044,201.02 in 2018, accounting for 6.99% of operating revenue[100]. - The amount of capitalized R&D investment surged by 3,308.61% to ¥740,503,902.47 in 2019 from ¥21,724,530.97 in 2018, representing 60.43% of total R&D investment[100]. Market Position and Competition - The company is the largest liquid crystal glass substrate manufacturer in China and the fourth largest globally, with more than 20 production lines across five bases[59]. - The company is focusing on enhancing its competitive edge in the new energy vehicle sector by focusing on key components such as hydrogen fuel cell engines and high-pressure hydrogen storage systems[51]. - The company recognizes the risk of market competition and the need for continuous technological upgrades to maintain its market position[163]. - The company anticipates challenges in the new energy vehicle market due to the withdrawal of subsidies, but aims to adapt and thrive through strategic positioning[155]. Corporate Governance and Compliance - The board of directors proposed not to distribute cash dividends or issue bonus shares for the fiscal year[11]. - The company is committed to increasing transparency and compliance with regulatory requirements moving forward[7]. - The company has not proposed any cash dividend distribution plan for the current fiscal year despite having positive profits available for distribution[178]. - The cash dividend policy has been clearly defined and complies with the company's articles of association and shareholder resolutions[174]. - The company has committed to avoiding any business competition with its controlled entities during the period of being a controlling shareholder[179]. Investment and Asset Management - The company has reported restricted cash of ¥10,747,898,433.26 as of the end of the reporting period[115]. - The company has a total of ¥2,280,895,500.00 in ongoing significant non-equity investments[122]. - The total amount of funds raised for the Wuhu flat panel display glass substrate production line project is 496,106.4 million, with a cumulative investment of 496,727.3 million, achieving 100.13% of the planned investment progress by December 31, 2019[133]. - The company has not sold any significant assets during the reporting period[145]. - The company has not changed the purpose of raised funds during the reporting period[125]. Risks and Challenges - The company faces risks from macroeconomic factors, including intensified US-China trade tensions and the global impact of the COVID-19 pandemic, which could adversely affect sales and performance[161]. - The company is addressing the risk of declining subsidies for new energy vehicles by expanding marketing efforts and adjusting product strategies[167]. - The company faces goodwill impairment risks due to unmet performance commitments from acquisitions, which could negatively impact future earnings[169].