陕西烽火电子股份有限公司 2022 年第三季度报告 证券代码：000561 证券简称：烽火电子 公告编号：2022-043 陕西烽火电子股份有限公司 2022 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、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。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报 告中财务信息的真实、准确、完整。 3.第三季度报告是否经过审计 □是 否 一、主要财务数据 （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 □是 否 | | 本报告期 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比上 | | --- | --- | --- | --- | --- | | | | 增减 | | 年同期增减 | | 营业收入（元） | 238,945,740.45 | -5.98% | 825,519,156.14 | -0.67% | | ...

Financial Performance - The company's operating revenue for the first half of 2022 was ¥586,573,415.69, representing a 1.67% increase compared to ¥576,944,164.03 in the same period last year[21]. - The net profit attributable to shareholders decreased by 44.08% to ¥6,162,425.29 from ¥11,020,649.43 year-on-year[21]. - Basic earnings per share fell by 44.57% to ¥0.0102 from ¥0.0184 in the same period last year[21]. - The company reported a weighted average return on equity of 0.39%, down by 0.31 percentage points from 0.70% in the previous year[21]. - The company reported a total comprehensive income of 6,162,425.29 CNY for the current period, compared to a total comprehensive income of 110,730,622.50 CNY in the previous period, showing a significant decrease[132]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at ¥294,139,778.75, worsening from a negative ¥163,650,159.28 in the previous year[21]. - The company's cash and cash equivalents decreased by 7.63 percentage points to 8.22% of total assets, primarily due to reduced sales receipts compared to the previous year[42]. - Cash flow from operating activities showed a net outflow of CNY 294.14 million, worsening from a net outflow of CNY 163.65 million in the previous year[124]. - The total cash and cash equivalents at the end of the period decreased to 188,426,894.67 CNY from 371,061,047.45 CNY in the previous period, showing a decline of approximately 49%[127]. Assets and Liabilities - Total assets increased by 1.16% to ¥3,934,347,941.86 compared to ¥3,889,065,388.54 at the end of the previous year[21]. - Total liabilities as of June 30, 2022, were RMB 2,089,487,350.25, compared to RMB 2,050,311,182.45 at the beginning of the year, indicating a rise of approximately 1.9%[112]. - The company's equity attributable to shareholders increased slightly from RMB 1,704,873,544.88 to RMB 1,711,004,492.75, a growth of about 0.4%[112]. Research and Development - Research and development investment increased by 22.17% to 104.53 million yuan[35]. - The company has focused on R&D, achieving progress in mobile internet communication systems and digital cluster product development[52]. - Research and development expenses increased to CNY 104,529,510.64 in the first half of 2022, up from CNY 85,558,749.11 in the same period of 2021, reflecting a growth of 22.1%[119]. Market and Revenue Segments - The communication industry accounted for 98.45% of total operating revenue, with a year-on-year increase of 2.32%[35]. - The revenue from audio products grew by 11.50% to 110.78 million yuan, representing 18.89% of total revenue[35]. - The company's revenue for the communication industry reached ¥577.49 million, with a year-over-year increase of 2.32%[37]. Shareholder and Equity Information - The largest shareholder, Shaanxi Fenghuo Communication Group Co., Ltd., holds 41.35% of the total shares, amounting to 250,059,547 shares[97]. - The company reported a decrease of 197,106 restricted shares due to the lifting of restrictions on employee stock options during the reporting period[95]. - The report indicates that the number of ordinary shareholders at the end of the reporting period was 48,756[97]. Corporate Governance and Compliance - The company has not disclosed any significant risks affecting its operational or financial status[4]. - The company has not experienced any major environmental violations or penalties during the reporting period[64]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[69]. Investment and Capital Expenditures - The company invested ¥890,044.20 in the Beijing R&D center, a significant decrease of 96.06% compared to the previous year's investment of ¥22.62 million[44]. - The company made an investment payment of 200,000,000.00 CNY during the current period, indicating a strategic focus on growth through investments[127]. Accounting and Financial Reporting - The financial report for the first half of 2022 was not audited[108]. - The company adheres to the accounting standards and ensures that the financial statements accurately reflect its financial position, operating results, and cash flows[148]. - The company uses Renminbi as its functional currency for accounting purposes[146].

Financial Performance - The company's operating revenue for Q1 2022 was ¥159,248,968.87, a decrease of 14.14% compared to ¥185,470,341.68 in the same period last year[3] - The net profit attributable to shareholders was -¥35,113,955.27, worsening from -¥14,896,662.20 year-on-year[3] - The company reported a net loss of CNY 39,477,287.62 for Q1 2022, compared to a loss of CNY 13,755,155.32 in the previous year[19] - The net profit for Q1 2022 was -45,255,793.04 CNY, compared to -20,120,499.08 CNY in Q1 2021, indicating a decline of approximately 124.5% year-over-year[20] - The company's total comprehensive income for Q1 2022 was -45,255,793.04 CNY, compared to -20,120,499.08 CNY in Q1 2021, indicating a worsening overall financial position[20] Cash Flow - The net cash flow from operating activities was -¥250,184,555.04, significantly lower than -¥78,806,806.41 in the previous year[9] - Cash flow from operating activities showed a net outflow of -250,184,555.04 CNY, compared to -78,806,806.41 CNY in Q1 2021, representing an increase in cash burn[22] - The company reported cash inflows from operating activities of 150,642,169.26 CNY, down from 345,982,348.01 CNY in the previous year, a decline of about 56.5%[22] - The cash flow from investment activities was -¥195,401,294.35, a stark contrast to a positive cash flow of ¥10,999,399.00 in the same period last year[9] - The total cash outflow from investing activities was -195,401,294.35 CNY, compared to an inflow of 10,999,399.00 CNY in Q1 2021, indicating a significant shift in investment strategy[22] - The net cash flow from financing activities was 14,915,041.40 CNY, an increase from 6,478,475.00 CNY in the same quarter last year, suggesting improved financing efforts[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,783,579,941.76, down 2.71% from ¥3,889,065,388.54 at the end of the previous year[3] - Total assets decreased to CNY 3,783,579,941.76 from CNY 3,889,065,388.54, a reduction of 2.72%[16] - Total liabilities decreased to CNY 1,990,108,322.14 from CNY 2,050,311,182.45, a decline of 2.93%[17] - The total equity attributable to shareholders decreased by 2.06% to ¥1,669,743,226.87 from ¥1,704,873,544.88 at the end of the previous year[3] - The company's equity attributable to shareholders decreased to CNY 1,669,743,226.87 from CNY 1,704,873,544.88, a decrease of 2.06%[17] Operational Metrics - Total operating costs for Q1 2022 were CNY 201,264,718.21, down 7.71% from CNY 218,110,939.54 year-on-year[19] - The weighted average return on net assets decreased to -2.25%, down 1.30 percentage points from -0.95% in the same period last year[3] - Research and development expenses for Q1 2022 were CNY 35,669,821.02, slightly down from CNY 35,986,708.91 in the previous year[19] - The basic earnings per share (EPS) for Q1 2022 was -0.0584, compared to -0.0249 in the same period last year, reflecting a worsening performance[20] Other Income and Expenses - The company reported a significant decrease in other income, which fell by 73.24% to ¥15,238.61 compared to ¥56,947.64 in the previous year[8] - The company's financial expenses increased significantly, amounting to ¥562,605.19 compared to -¥775,700.00 in the previous year[8] - Cash and cash equivalents decreased to CNY 364,480,143.01 from CNY 616,556,147.65 at the beginning of the year, a decline of 41.00%[15] - Accounts receivable increased to CNY 1,149,145,930.86 from CNY 1,097,441,851.90, reflecting a growth of 4.73%[15] - Inventory rose to CNY 955,559,106.86, up 14.43% from CNY 835,148,224.37 at the beginning of the year[16] Mergers and Acquisitions - The company did not report any net profit from mergers under common control for the current or previous periods, indicating no significant acquisitions during this timeframe[20]

Financial Performance - The company's operating revenue for 2021 was ¥1,502,408,057.22, representing an increase of 8.29% compared to ¥1,387,331,597.75 in 2020[22] - The net profit attributable to shareholders of the listed company was ¥110,730,622.50, up 12.22% from ¥98,671,796.27 in the previous year[22] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥82,106,337.02, a significant increase of 71.64% compared to ¥47,835,551.80 in 2020[22] - Basic earnings per share increased by 12.50% to CNY 0.18 from CNY 0.16 in the previous year[23] - Total assets grew by 8.86% to CNY 3,889,065,388.54 compared to CNY 3,572,525,830.26 at the end of the previous year[23] - Net assets attributable to shareholders increased by 8.49% to CNY 1,704,873,544.88 from CNY 1,571,498,699.65 year-over-year[23] - The company reported a net profit of CNY 105,191,660.54 in Q4 2021, a significant recovery from a loss of CNY 14,909,226.29 in Q1 2021[27] - The company achieved an operating income of CNY 1.50 billion in 2021, representing an 8.29% increase from the previous year, with R&D investment amounting to CNY 235 million, accounting for 15.62% of operating income[38] Cash Flow and Liquidity - The net cash flow from operating activities decreased by 64.62% to ¥32,344,292.36 from ¥91,427,175.23 in 2020[22] - The net cash flow from operating activities in Q4 2021 was CNY 353,947,464.80, indicating a strong operational performance[27] - Operating cash inflow totaled ¥1,669,548,069.33, a 39.00% increase compared to the previous year[55] - The company's cash and cash equivalents increased by ¥54,909,396.03, reversing a previous decrease of ¥203,105,066.12[55] - The cash and cash equivalents increased to RMB 616.56 million from RMB 552.19 million in the previous year, indicating improved liquidity[200] Research and Development - The company has established a complete research and production capability layout to meet user information construction needs over the next five to ten years[33] - The company is recognized as a high-tech enterprise and has developed core technologies in voice bone conduction and active noise reduction[35] - Research and development expenses increased by 13.40% to ¥234,737,614.03, which is 15.62% of operating revenue[53] - The number of R&D personnel grew by 5.32% to 831, with the proportion of R&D staff increasing to 29.00%[52] - The company plans to focus on innovation and quality improvement in 2022, aiming for high-quality sustainable development and expanding its market presence in defense-related sectors[72] Business Strategy and Market Position - The company has undergone significant asset restructuring since 2010, shifting its main business focus to electronic communication equipment manufacturing[20] - The company is actively expanding its international defense business, having provided communication products and services to over 30 countries and regions[35] - The communication sector contributed CNY 1.48 billion to the total revenue, which is 98.69% of the total operating income, showing an 8.60% increase year-on-year[43] - The company aims to enhance its core competitiveness by promoting new products such as fourth-generation shortwave radios and military communication systems[73] - The overall economic environment remains challenging, with pressures from demand contraction and supply shocks, but the company is committed to adapting and seizing opportunities in military modernization[72] Governance and Management - The company has a complete internal governance structure, ensuring clear responsibilities and effective checks and balances among its governing bodies[82] - The company has fully separated its operations from its controlling shareholder, ensuring independent business capabilities[83] - The company’s management team includes professionals with extensive backgrounds in finance and engineering, enhancing its operational capabilities[90] - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 4.82 million CNY[99] - The company has implemented a performance-based remuneration system for senior management, which is reviewed annually[97] Shareholding and Equity - The total number of shares held by the board members at the end of the reporting period was 608,264 shares, down from 637,514 shares at the beginning of the period, indicating a decrease of approximately 4.6%[86] - The largest shareholder, Shaanxi Fenghuo Communication Group Co., Ltd., holds 40.64% of the shares, totaling 245,732,847[174] - The second-largest shareholder, Shaanxi Electronic Information Group Co., Ltd., holds 12.74% of the shares, totaling 77,037,508[174] - The company has no foreign shareholding, with all shares being held by domestic entities[169] - The total number of unrestricted shares increased by 2,590,072, bringing the total to 601,766,658, which is 99.52% of total shares[169] Internal Control and Compliance - The company maintained effective internal control over financial reporting as of December 31, 2021, according to the internal control audit report[123] - The internal control audit report was disclosed on April 16, 2021, and received a standard unqualified opinion[123] - The company has implemented various internal controls to mitigate the risk of material misstatement due to fraud or error[196] - The audit opinion for the financial statements was a standard unqualified opinion[187] - The company has not faced any administrative penalties related to environmental issues during the reporting period[126] Social Responsibility and Sustainability - The company actively engages in social responsibility, contributing to community welfare and disaster relief efforts[127] - The company emphasizes green development, integrating ecological protection into its strategic planning and operations[127] - The company has committed to poverty alleviation through educational and material donations, achieving positive outcomes in its initiatives[129] - The company has implemented a comprehensive pandemic response plan, including strict control measures and support for frontline efforts[127]

Financial Performance - The company's operating revenue for Q3 2021 was ¥254,155,745.35, representing an increase of 18.94% compared to the same period last year[3]. - Total operating revenue for Q3 2021 reached ¥831,099,909.38, an increase of 18.2% compared to ¥702,759,544.43 in the same period last year[22]. - The net profit for Q3 2021 was -¥3,259,333.49, compared to -¥609,901.36 in Q3 2020, indicating a deeper loss year-over-year[23]. - The company reported a gross profit margin of approximately 0.3% for Q3 2021, down from the previous year's margin[22]. - The net profit attributable to shareholders was -¥5,481,687.47, while the net profit after deducting non-recurring gains and losses was -¥6,092,866.56[3]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥3,686,976,387.88, an increase of 3.20% from the end of the previous year[3]. - Total liabilities increased to ¥1,987,289,712.86, up from ¥1,865,296,381.89, reflecting a rise of 6.5%[20]. - Total current assets increased to ¥2,780,374,133.81 from ¥2,693,657,377.57 year-over-year[18]. Cash Flow - The cash flow from operating activities showed a net outflow of -¥321,603,172.44, indicating increased cash payments for goods and services compared to the previous year[9]. - The company's cash flow from operating activities showed a significant change, with a focus on improving liquidity in future quarters[25]. - Operating cash inflow for the current period was $784.39 million, up from $582.08 million in the previous period, representing a 34.7% increase[26]. - Net cash outflow from operating activities was -$321.60 million, compared to -$133.04 million in the previous period, indicating a worsening of 142.3%[27]. - Total cash outflow from operating activities was $1.11 billion, compared to $715.12 million in the previous period, an increase of 54.7%[27]. Inventory and Expenses - The company's inventory increased by 46.99% to ¥947,441,217.71, primarily due to increased raw material purchases[7]. - The company reported a 32.93% rise in management expenses, totaling ¥195,938,195.20, mainly due to increased salary costs[8]. - Research and development expenses increased to ¥138,788,044.12, a rise of 19.6% from ¥116,043,269.99 in the prior year[23]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 54,994[11]. - Shaanxi Fenghuo Communication Group Co., Ltd. holds 40.64% of shares, totaling 245,732,847 shares[11]. - Shaanxi Electronic Information Group Co., Ltd. holds 12.74% of shares, totaling 77,037,508 shares[11]. Other Income and Financing - Other income increased by 68.72% to ¥3,091,258.36, attributed to higher government subsidies related to normal business operations[8]. - The company experienced a 76.07% decrease in non-operating income, amounting to ¥4,792,487.16, due to reduced government subsidies unrelated to business operations[8]. - The company announced the progress of non-public issuance of exchangeable bonds by the controlling shareholder[13]. - No financing or securities lending activities reported among the top ten shareholders[12].

Financial Performance - The company achieved operating revenue of CNY 576.94 million, an increase of 17.96% compared to the same period last year[22]. - The net profit attributable to shareholders of the listed company was CNY 11.02 million, up 5.16% year-on-year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 1.66 million, a decrease of 79.16% compared to the previous year[22]. - The total assets at the end of the reporting period were CNY 3.73 billion, representing a growth of 4.40% from the end of the previous year[22]. - The net assets attributable to shareholders of the listed company were CNY 1.58 billion, an increase of 0.71% from the end of the previous year[22]. - The basic earnings per share were CNY 0.02, doubling from CNY 0.01 in the same period last year[22]. - The company reported a total revenue of 98,671.79 million, which is a 6.27% increase from the previous year[140]. - The net profit attributable to shareholders was 604.69 million, with a year-over-year growth of 21%[138]. - The total equity attributable to shareholders at year-end was 604.69 million, with a 3.1% increase from the previous year[138]. - The company reported a net profit of 1,153.84 million yuan, which is an increase of 8.9% from the previous year[142]. Cash Flow and Investments - The company reported a net cash flow from operating activities of CNY -163.65 million, worsening from CNY -69.87 million in the previous year[22]. - The company achieved a net cash flow from financing activities of ¥82,040,018.06, a significant increase of 92.84% compared to ¥42,543,130.35 in the previous year[39]. - The cash inflow from operating activities was 488,560,729.85 CNY, significantly higher than 295,723,774.20 CNY in the first half of 2020, indicating improved sales performance[133]. - The total cash outflow from investing activities was 16,399,260.60 CNY, compared to 127,112,125.05 CNY in the previous year, suggesting a decrease in investment expenditures[134]. - The net cash flow from investing activities was -16,399,260.60 CNY, an improvement from -72,112,125.05 CNY in the previous year, indicating better investment management[134]. Research and Development - The company is engaged in ongoing research and development efforts, although specific details were not disclosed in the report[5]. - The company's R&D investment reached ¥85,558,749.11, an increase of 11.25% from ¥76,903,419.26 in the previous year[38]. - The company's research and development expenses for the first half of 2021 were CNY 85,558,749.11, compared to CNY 76,903,419.26 in the same period last year, indicating a growth of 11.6%[122]. - The company has established a clear technological innovation strategy with R&D centers in Baoji, Xi'an, and Beijing, focusing on military communication and audio technology[36]. Market and Sales - The communication products and supporting equipment accounted for 80.61% of total revenue, with a year-on-year increase of 11.82%[40]. - The company is actively expanding into new markets, including emergency communication vehicles and digital cluster systems, while also targeting international defense markets[32]. - The revenue from acoustic devices increased significantly, with a year-on-year growth of 73.60%, and the gross margin improved by 4.19 percentage points to 40.31%[41]. - Domestic revenue amounted to ¥576.94 million, reflecting a 17.96% increase compared to the previous year, with a gross margin growth of 1.09 percentage points to 41.19%[41]. Assets and Liabilities - The company's cash and cash equivalents decreased by 2.80 percentage points to 12.66% of total assets, totaling ¥472.35 million[46]. - Accounts receivable increased by 5.08 percentage points to 30.78% of total assets, amounting to ¥1.15 billion[46]. - Inventory grew by 3.50 percentage points to 21.54% of total assets, totaling ¥803.49 million[46]. - Total liabilities reached CNY 2,015,153,517.14, up from CNY 1,865,296,381.89, indicating an increase of about 8.0%[116]. - The company's short-term borrowings significantly increased to CNY 123,000,000.00 from CNY 21,000,000.00, showing a rise of approximately 485.7%[116]. Governance and Compliance - The company disclosed the resignation of board members and supervisors, indicating changes in its governance structure[94]. - The company maintained compliance with relevant regulations regarding related party transactions throughout the reporting period[80]. - The financial report for the first half of 2021 was not audited[112]. Strategic Plans - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company aims to enhance shareholder value through strategic investments and potential acquisitions in the upcoming fiscal year[138]. - The company plans to expand its market presence, focusing on new product development and technological advancements[138]. - The company is focusing on enhancing its core competitiveness to address increasing operational risks from technological innovations and market competition[58].

Financial Performance - The company's operating revenue for Q1 2021 was ¥185,470,341.68, representing a 207.34% increase compared to ¥59,041,504.58 in the same period last year[8] - The net profit attributable to shareholders was a loss of ¥14,896,662.20, an improvement from a loss of ¥52,902,239.91 in the previous year[8] - The basic and diluted earnings per share were both -¥0.02, unchanged from -¥0.09 in the previous year[8] - Operating revenue for the first quarter reached ¥185,470,341.68, a significant increase of 207.34% compared to ¥60,346,956.34 in the same period last year, primarily due to the impact of the pandemic on last year's performance[19] - The company's net loss for Q1 2021 was CNY 13,755,155.32, an improvement compared to a net loss of CNY 57,286,364.34 in Q1 2020[41] - The total comprehensive loss for Q1 2021 was CNY 20,120,499.08, compared to a loss of CNY 62,399,495.59 in the previous year, indicating a reduction in losses[42] Cash Flow - The net cash flow from operating activities was negative at ¥78,806,806.41, compared to a negative cash flow of ¥45,728,945.00 in the same period last year[8] - Cash flow from operating activities showed a net outflow of CNY 78,806,806.41, worsening from a net outflow of 49,940,581.98 in the same period last year[48] - The total cash inflow from operating activities was CNY 345,982,348.01, compared to CNY 222,182,224.10 in the same period last year, indicating a growth of 55.7%[48] - Total cash inflow from operating activities was CNY 285,400,762.01, while total cash outflow was CNY 307,895,038.62, resulting in a net cash outflow of CNY 22,494,276.61[51] - The company's cash flow from operating activities showed a positive trend, with a significant increase in cash received from sales[51] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,540,720,631.54, a decrease of 0.89% from ¥3,572,525,830.26 at the end of the previous year[8] - The total liabilities decreased slightly, with short-term borrowings at ¥20,000,000.00, down from ¥21,000,000.00, reflecting a stable debt management approach[32] - The total assets as of March 31, 2021, were CNY 2,908,547,237.81, slightly up from CNY 2,898,143,458.78 at the end of 2020[38] - The total liabilities decreased to CNY 1,399,286,713.74 from CNY 1,380,272,667.46 at the end of 2020, reflecting a reduction in financial obligations[38] Shareholder Information - The total number of shareholders at the end of the reporting period was 50,371[12] - The largest shareholder, Shaanxi Fenghuo Communication Group Co., Ltd., held 41.69% of the shares, totaling 110,000,000 shares[13] Government Subsidies - The company reported non-operating income of ¥6,221,758.49 from government subsidies during the reporting period[10] - The company received government subsidies amounting to ¥6,438,459.15, a 616.67% increase from ¥898,381.72 in the previous year, contributing positively to other income[19] Investment and Financing Activities - The company did not engage in any securities or derivative investments during the reporting period, indicating a conservative investment strategy[22][23] - The company raised CNY 20,000,000.00 through borrowings in Q1 2021, compared to CNY 11,000,000.00 in the same period last year, showing an 81.8% increase in financing activities[49] - The company received CNY 10,000,000.00 from borrowings during the financing activities[52] Research and Development - Research and development expenses for Q1 2021 were CNY 35,986,708.91, compared to CNY 29,741,296.78 in Q1 2020, marking an increase of about 21%[41] - Research and development expenses for Q1 2021 were CNY 18,831,039.40, compared to CNY 16,708,279.28 in the previous year, reflecting a 12.7% increase[44] Compliance and Governance - The company has not reported any non-compliance issues regarding external guarantees or misuse of funds by major shareholders during the reporting period[25][26] - The first quarter report was not audited, indicating that the figures may be subject to further review[53]

Financial Performance - The company's operating revenue for 2020 was ¥1,387,331,597.75, representing a 3.04% increase compared to ¥1,346,459,522.80 in 2019[18]. - The net profit attributable to shareholders for 2020 was ¥98,671,796.27, which is a 6.56% increase from ¥92,593,573.71 in 2019[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 15.04% to ¥47,835,551.80 from ¥56,302,153.18 in 2019[18]. - The net cash flow from operating activities decreased by 62.08% to ¥91,427,175.23 compared to the previous year[19]. - Basic and diluted earnings per share increased by 6.67% to ¥0.16[19]. - The weighted average return on equity decreased by 1.40 percentage points to 6.36%[19]. - Total assets increased by 9.71% to ¥3,572,525,830.26 compared to the end of 2019[19]. - Net assets attributable to shareholders increased by 4.91% to ¥1,571,498,699.65[19]. - The company reported a total revenue of ¥684,572,053.32 in Q4 2020, with a net profit of ¥93,478,094.79[23]. Investments and Acquisitions - The company invested ¥295,669,184.59 during the reporting period, a significant increase of 217.85% compared to the previous year[58]. - The company acquired 100% of Shaanxi Dadong Technology Industrial Co., Ltd. for ¥95,669,700.00, focusing on multimedia language systems and communication equipment[60]. - The acquisition of Shaanxi Dadi Technology Industrial Co., Ltd. was completed, making it a wholly-owned subsidiary of the company, with a transfer price of 95.66 million CNY and an asset appraisal increase of 71.31 million CNY, representing a 292.77% increase in value[100]. Research and Development - R&D investment reached 207 million yuan, accounting for 14.92% of operating revenue, an increase of 0.59 percentage points year-on-year[35]. - The company completed 50 research project identifications during the reporting period, including a significant system-level product that enhances market share[36]. - The company obtained 37 patent authorizations, including 14 invention patents, during the reporting period[36]. - The company has established three main R&D centers in Baoji, Xi'an, and Beijing, supported by specialized teams in other regions[36]. - The company aims to enhance its technological innovation capabilities by strengthening core technology research and achieving breakthroughs in key areas[71]. Operational Efficiency and Strategy - The company aims to enhance operational efficiency and has established a sales platform to improve marketing effectiveness[31]. - The company plans to strengthen its core communication business and expand market share, focusing on military products and new research and development projects in 2021[70]. - The company will focus on effective growth, emphasizing quality, efficiency, reform, and innovation to build core competitiveness for sustainable development[70]. Risk Management - The company has not identified any significant risks that would adversely affect its operational or financial status[4]. - The company faces risks related to international political instability, which may impact the military industry and its operational status[72]. - The company is also exposed to operational risks due to increasing competition and rapid technological advancements in the industry[73]. Corporate Governance - The company has established a comprehensive internal control framework, ensuring effective governance and compliance with regulatory standards[161]. - The audit opinion for the financial statements was a standard unqualified opinion[183]. - The company maintains complete independence from its controlling shareholder in business, personnel, assets, institutions, and finance[162]. Shareholder Information - The company's stock is listed on the Shenzhen Stock Exchange under the code 000561[14]. - The company has not distributed any cash dividends in the last three years, with retained losses decreasing from CNY 87.71 million to CNY 21.96 million[78]. - The company’s major shareholder, Shaanxi Fenghuo Communication Group Co., Ltd., holds 41.69% of the shares, totaling 252,085,786 shares, with 110,000,000 shares pledged[128]. Employee and Management Structure - The total number of employees in the company is 2,913, with 2,082 in the parent company and 831 in major subsidiaries[155]. - The company has a professional composition of 1,208 production personnel, 1,179 technical personnel, 60 sales personnel, 54 financial personnel, and 412 administrative personnel[155]. - The total remuneration for directors and senior management during the reporting period amounts to 434.89 million yuan[154]. Compliance and Legal Matters - The company has not faced any major litigation or arbitration matters during the reporting period[90]. - There were no significant non-operating fund occupations by controlling shareholders or related parties during the reporting period[84]. - The company has not faced any penalties or rectification issues during the reporting period[91].

陕西烽火电子股份有限公司 2020 年第三季度报告全文 陕西烽火电子股份有限公司 2020 年第三季度报告 2020 年 10 月 1 陕西烽火电子股份有限公司 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。 公司负责人宋涛、主管会计工作负责人赵兰平及会计机构负责人(会计主管 人员)王文刚声明：保证季度报告中财务报表的真实、准确、完整。 2 陕西烽火电子股份有限公司 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 √ 是 □ 否 追溯调整或重述原因 同一控制下企业合并 | | 本报告期末 | 上年度末 | 本报告期末比上年 | | | | --- | --- | --- | --- | --- | --- | | | | | 度末增减 | | | | | | 调整前 | 调整后 | 调整后 | | | 总资产（元） | 3,480,224,9 ...

Financial Performance - The company's operating revenue for the first half of 2020 was ¥486,360,723.42, an increase of 4.09% compared to ¥467,231,451.28 in the same period last year[18]. - The net profit attributable to shareholders was ¥8,970,887.88, representing a significant increase of 236.21% from ¥2,668,274.47 in the previous year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥6,435,309.46, up 437.57% from ¥1,197,114.99 in the same period last year[18]. - The company reported a basic earnings per share of ¥0.01, recovering from a loss of ¥0.03 per share in the same period last year[18]. - The company achieved a gross profit margin of approximately 40.19% for the reporting period[36]. - The communication industry accounted for 97.28% of total revenue, with a year-on-year growth of 6.29%[39]. - The company reported a net loss of CNY 283,540,907.41 for the first half of 2020, an improvement from a net loss of CNY 310,535,677.28 in the same period of 2019[120]. Assets and Liabilities - The company's total assets at the end of the reporting period were ¥3,466,596,206.74, reflecting a growth of 7.39% from ¥3,227,973,133.38 at the end of the previous year[18]. - The total liabilities of the company as of June 30, 2020, were RMB 2,198,316,206.74, reflecting an increase from RMB 1,883,973,133.38 at the end of 2019[114]. - The company's total current liabilities were reported at RMB 1,289,032,282.58, up from RMB 1,069,370,055.02, which is an increase of about 20.5%[114]. - The cash and cash equivalents decreased to RMB 671,320,115.00 from RMB 745,072,851.71, reflecting a decline of about 9.9%[113]. - Accounts receivable increased significantly to RMB 987,784,936.70, up from RMB 771,638,419.75, indicating a rise of approximately 28.1%[113]. - Inventory levels rose to RMB 737,484,789.01, compared to RMB 564,546,324.83, marking an increase of around 30.6%[113]. Investment and Research - Research and development investment increased by 12.47% to CNY 76.90 million compared to the previous year[38]. - Research and development expenses increased to CNY 76,903,419.26 in the first half of 2020, up from CNY 68,376,258.81 in the same period of 2019, indicating a growth of approximately 12.5%[121]. - The company plans to focus on high-tech communication industries and maintain its core business without significant changes in its operating model during the reporting period[25]. Dividends and Shareholder Information - The company does not plan to distribute cash dividends or issue bonus shares[6]. - The company has incurred significant unabsorbed losses due to the acquisition of the original listed company's large unabsorbed losses, potentially affecting dividend distribution for an extended period[4]. - The number of shareholders at the end of the reporting period was 51,784[93]. - The largest shareholder, Shaanxi Fenghuo Communication Group Co., Ltd., holds 41.69% of the shares, totaling 252,085,786 shares[93]. Subsidiary Performance - The subsidiary Shaanxi Fenghuo Communication Technology Co., Ltd. reported a revenue of ¥899.75 million, a decrease of 75.56% year-over-year, resulting in a net loss of ¥1,947.29 million[51]. - The subsidiary Xi'an Fenghuo Electronics Technology Co., Ltd. achieved a revenue of ¥1,365.90 million, a growth of 10.12% year-over-year, with a net profit of ¥550.49 million[53]. Cash Flow and Financing - The company reported a net cash outflow from operating activities of approximately ¥69.87 million, compared to a net outflow of ¥39.71 million in the first half of 2019[128]. - Total cash inflow from financing activities was 61,999,250.00 CNY, while cash outflow was 19,456,119.65 CNY, resulting in a net cash flow of 42,543,130.35 CNY[129]. - The cash inflow from investment activities was significantly lower at 55,000,000.00 CNY compared to 150,000,000.00 CNY in the first half of 2019[130]. Compliance and Governance - The financial statements were approved by the board on August 20, 2020, ensuring compliance with accounting standards[149]. - The company has no significant doubts regarding its ability to continue as a going concern for the next 12 months[150]. - There were no major litigation or arbitration matters during the reporting period[63]. Accounting Policies - The accounting policies and estimates have been consistently applied, ensuring the reliability of financial reporting[151]. - The company recognizes expected credit losses for financial assets measured at amortized cost and for debt instruments measured at fair value with changes recognized in other comprehensive income[173]. - The company employs a perpetual inventory system, conducting at least one comprehensive inventory count annually[181].