Financial Performance - Operating revenue for the reporting period was ¥1,947,920,933.63, an increase of 52.95% compared to the same period last year[8]. - Net profit attributable to shareholders of the listed company was -¥169,709,165.52, a decline of 79.80% year-on-year[8]. - Basic earnings per share were -¥0.0375, a decrease of 79.77% compared to the same period last year[8]. - The company reported a net loss of ¥8,003,511,041.90 in retained earnings, worsening from a loss of ¥7,054,394,297.01 in the previous year[62]. - The total comprehensive loss for the current period was ¥257,948,696.69, compared to a loss of ¥1,424,534,790.08 in the previous period, showing a significant reduction in overall losses[78]. - Operating profit for the current period was -¥1,466,580,473.19, an improvement from -¥3,050,729,722.32 in the previous period, showing a reduction in losses of approximately 52.1%[89]. - Net profit for the current period was -¥1,468,613,881.76, compared to -¥3,046,953,948.17 in the previous period, reflecting a decrease in losses of about 51.7%[89]. Assets and Liabilities - Total assets at the end of the reporting period were ¥20,433,851,730.87, a decrease of 4.82% compared to the end of the previous year[8]. - The total liabilities amounted to ¥14,859,276,480.44, compared to ¥14,422,923,683.40 in the previous period, indicating an increase of about 3%[62]. - The total equity attributable to shareholders of the parent company decreased to ¥3,199,139,260.56 from ¥4,147,107,255.70, reflecting a decline of approximately 23%[62]. - Current liabilities totaled ¥10,036,137,202.05, up from ¥8,458,821,391.99, marking an increase of around 18%[62]. - Non-current liabilities decreased to ¥4,823,139,278.39 from ¥5,964,102,291.41, a reduction of about 19%[62]. - The company's long-term equity investments decreased to CNY 1,268,754,748.90 from CNY 1,443,942,665.89, reflecting a decline of about 12.13%[56]. Cash Flow - Net cash flow from operating activities was ¥235,904,004.89, an increase of 176.07% year-on-year[8]. - Cash inflow from financing activities was CNY 3,653,215,473.31, down from CNY 5,142,311,897.65 in the previous period[103]. - Net cash flow from investing activities was -CNY 477,231,136.64, worsening from -CNY 339,527,254.72 in the previous period[103]. - The ending balance of cash and cash equivalents was CNY 380,286,724.41, down from CNY 1,637,099,979.60 in the previous period[102]. Shareholder Information - The top shareholder, Nanjing Zhongdian Panda Information Industry Group Co., Ltd., holds 24.51% of the shares[13]. - The total number of ordinary shareholders at the end of the reporting period was 103,624[13]. Research and Development - Research and development expenses rose by 48.47% to RMB 14,104.18 million, reflecting increased investment in new product development[22]. - The company aims to enhance its market presence and product offerings through ongoing research and development initiatives[78]. Investments and Acquisitions - The company completed the transfer of 100% equity in Nanjing Zhongdian Panda Magnetic Technology Co., Ltd. for RMB 1,105.72 million[25]. - The company plans to publicly sell 57.646% equity in Nanjing Zhongdian Panda Flat Panel Display Technology Co., Ltd. as part of a strategic restructuring[26]. - The company intends to acquire 51% of TPV Technology Limited through cash payment, pending regulatory approvals[26]. Risk Management - The company has identified risks associated with derivative investments, including market risk and operational risk, and has implemented control measures to mitigate these risks[37]. - The company has established a risk control mechanism for financial derivatives, ensuring compliance with relevant laws and regulations, and has implemented a reporting system for abnormal situations to minimize operational risks[40]. Regulatory and Compliance - The company is awaiting further regulatory approvals for several ongoing transactions, including equity transfers and acquisitions[31]. - There were no violations regarding external guarantees during the reporting period[42].

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 2,811,014,149.40, representing a 19.62% increase compared to the same period last year[22]. - The net profit attributable to shareholders was CNY -777,845,456.58, an improvement of 18.72% from CNY -956,970,961.26 in the previous year[22]. - The basic earnings per share improved to CNY -0.1717 from CNY -0.2113, reflecting an 18.73% increase[22]. - The net profit after deducting non-recurring gains and losses was CNY -795,351,002.58, showing an 18.54% improvement from CNY -976,313,606.78 in the previous year[22]. - The net loss for the first half of 2020 was CNY 1,210,665,185.07, an improvement from a net loss of CNY 1,628,418,853.39 in the same period of 2019[178]. - The total comprehensive income for the first half of 2020 was a loss of CNY 163,945,433.10, compared to a loss of CNY 26,385,407.77 in the first half of 2019[186]. Cash Flow - The net cash flow from operating activities decreased by 88.76%, amounting to CNY 69,722,351.16 compared to CNY 620,210,932.78 in the same period last year[22]. - The net cash flow from operating activities for the first half of 2020 was -2,490,115.23 yuan, an improvement from -7,302,380.47 yuan in the same period of 2019, indicating a 65.9% reduction in losses[194]. - Cash flow from operating activities generated a net inflow of CNY 69,722,351.16 in the first half of 2020, a substantial decrease from CNY 620,210,932.78 in the first half of 2019[190]. - Cash flow from investing activities resulted in a net outflow of CNY 357,643,759.98 in the first half of 2020, compared to a net outflow of CNY 262,754,220.02 in the same period of 2019[190]. - The net cash flow from investment activities was -30,139,545.47 yuan, a significant decline from a positive cash flow of 2,953,112.91 yuan in the first half of 2019[196]. - Cash inflow from financing activities reached 1,550,000,000.00 yuan, up from 626,000,000.00 yuan in the previous year, marking a 147.5% increase[196]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 20,571,965,650.02, a decrease of 4.18% from CNY 21,469,269,111.71 at the end of the previous year[22]. - The company's total assets decreased to CNY 12,167,148,532.17 from CNY 12,281,242,275.62 year-over-year, reflecting a decline of approximately 0.9%[171]. - Total liabilities rose to CNY 14,736,767,628.75 from CNY 14,422,923,683.40, an increase of about 2.2%[161]. - The company's equity attributable to shareholders decreased to CNY 3,369,091,626.87 from CNY 4,147,107,255.70, a decline of approximately 18.8%[164]. Revenue Breakdown - Revenue from liquid crystal displays and modules was ¥2,519,251,504.22, accounting for 89.62% of total revenue, with a year-on-year growth of 21.52%[47]. - Sales of notebook and monitor LCD panels increased by 54.49% year-on-year, with revenue growth of 86.30%, raising their sales proportion from 37.60% to 56.99%[42]. - The company's gross profit margin decreased by 12.83% in the electronic components industry, with total operating costs rising by 2.28% year-on-year[47]. Strategic Initiatives - The company aims to improve its financial performance and mitigate delisting risks in the upcoming fiscal year[6]. - The company is actively adjusting its product structure to enhance profitability in response to the COVID-19 pandemic[42]. - The company plans to enhance product upgrades to meet the increasing demand for high-resolution and high-refresh-rate LCD panels, focusing on IGZO metal oxide technology[70]. - The company is developing high-resolution and high-refresh-rate display products based on its IGZO technology[35]. - The company has established deep strategic partnerships with end customers to accelerate product development[35]. Research and Development - Research and development expenses decreased by 31.79% to CNY 119.88 million, focusing on small and medium-sized product development[43]. - Research and development expenses for the first half of 2020 were CNY 56,847,918.71, down from CNY 60,844,080.36 in the previous year, indicating a decrease of about 6.5%[175]. Shareholder Information - The total number of shares before the recent change was 4,529,566,980, with 35.30% being restricted shares and 64.70% being unrestricted shares[123]. - The largest shareholder, Nanjing Zhongdian Panda Information Industry Group Co., Ltd., holds 1,110,344,828 shares, representing 24.51% of the total shares[125]. - Nanjing New Industry Investment Group Co., Ltd. and Nanjing Mechanical and Electrical Industry (Group) Co., Ltd. hold 10.79% and 10.78% of the shares, respectively[125]. Compliance and Governance - The company has established internal control systems and risk management mechanisms for derivative investments, ensuring compliance with legal regulations[68]. - The company has not experienced any significant litigation or arbitration matters during the reporting period[82]. - The semi-annual financial report has not been audited[77]. - There are no significant related party transactions during the reporting period[86].

南京华东电子信息科技股份有限公司 2020 年第一季度报告全文 南京华东电子信息科技股份有限公司 2020 年第一季度报告 2020 年 04 月 1 南京华东电子信息科技股份有限公司 2020 年第一季度报告全文 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、误导性陈述或者重大遗漏，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。 公司负责人徐国忠、主管会计工作负责人艾兴海及会计机构负责人(会计主 管人员)吴毓臻声明：保证季度报告中财务报表的真实、准确、完整。 2 南京华东电子信息科技股份有限公司 2020 年第一季度报告全文 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 approximately ¥5.27 billion, a decrease of 7.65% compared to ¥5.70 billion in 2018[17]. - The net profit attributable to shareholders was a loss of approximately ¥5.64 billion, representing a decline of 471.28% from a loss of ¥987 million in 2018[17]. - The net cash flow from operating activities decreased by 53.59% to approximately ¥637 million, down from ¥1.37 billion in 2018[17]. - The basic earnings per share were reported at -¥1.2453, a significant drop from -¥0.2180 in the previous year[17]. - The weighted average return on equity decreased to -80.87% from -9.60% year-over-year[18]. - Total assets decreased by 33.31% to approximately ¥21.47 billion compared to the previous year[18]. - Net assets attributable to shareholders decreased by 57.66% to approximately ¥4.15 billion compared to the previous year[18]. - In Q4 2019, the company reported a net profit attributable to shareholders of approximately -¥3.84 billion, marking a significant loss[22]. - The company achieved a revenue of approximately ¥1.64 billion in Q4 2019, showing a quarterly increase[22]. Business Strategy and Focus - The company has shifted its main business focus from electric light sources and vacuum electronics to flat panel displays, touch control, quartz crystals, and magnetic electronics[16]. - The company is focusing on developing high-resolution and high-refresh-rate products to enhance profitability and market presence[27]. - The company has successfully developed technologies for high-performance oxide backplanes, laying the foundation for higher resolution and refresh rates[31]. - The company plans to further innovate and expand its market presence while enhancing employee satisfaction and customer service[35]. - The company is committed to enhancing its operational efficiency amidst the ongoing economic adjustments and market challenges[80]. - The company aims to enhance its competitive edge in the new display manufacturing sector by leveraging its East China technology industry platform and focusing on panel and display terminal integration[81]. Research and Development - The company filed a total of 160 patents in 2019, including 128 invention patents and 10 PCT applications[32]. - The company optimized its R&D structure, reducing the development cycle by 33% and launching several new high-end products[38]. - Research and development expenses increased by 80.96% to ¥210,065,914.90, driven by new technology and product development[51]. - The number of R&D personnel decreased by 23.82% to 1,094, while R&D investment as a percentage of operating income fell to 6.65% from 8.41%[53]. - The company is enhancing its research and development capabilities to keep pace with advancements in display technology and improve its core technology innovation capacity[85]. Market Performance - The electronic components industry accounted for 98.87% of total revenue, with a year-on-year growth of 3.31%[42]. - The touch screen segment saw a significant revenue increase of 63.25%, contributing CNY 300.32 million to total revenue[43]. - The sales volume of liquid crystal panels increased by 9.24% year-on-year, reaching 3,630 K㎡, while production volume rose by 11.94% to 3,685 K㎡[45]. - The crystal segment's revenue grew by 19%, and the touch control segment's revenue increased by 34%[39]. - The domestic revenue decreased by 17.63% to CNY 3.35 billion, while overseas revenue increased by 17.22% to CNY 1.91 billion[43]. Financial Management and Risks - The company reported an asset impairment loss of ¥6,591,652,152.03, which accounted for 68.11% of the total profit[60]. - The net increase in cash and cash equivalents was negative at -¥1,472,689,625.86, a decline of 409.30% compared to the previous year[56]. - The company has established a robust foreign exchange risk management mechanism to mitigate potential losses from currency fluctuations[86]. - The company faces macroeconomic risks, including trade policy changes and geopolitical tensions, which may impact its future operations[84]. - The company is addressing raw material supply risks by increasing the localization rate and diversifying suppliers to mitigate potential price hikes and supply disruptions[85]. Corporate Governance and Shareholder Relations - The board of directors has established specialized committees to enhance governance and protect shareholder rights[135]. - The company emphasizes timely and accurate information disclosure, adhering to regulations to prevent insider trading[200]. - The company actively engages with investors through various communication channels to strengthen relationships with minority shareholders[200]. - The company has ongoing commitments from major shareholders to avoid competition and ensure fair transactions, which are being fulfilled as of the reporting date[94]. Social Responsibility and Environmental Practices - The company emphasizes social responsibility, aiming to create a resource-saving and environmentally friendly modern enterprise[134]. - The company has implemented strict environmental management practices, ensuring compliance with national and local standards for wastewater and air emissions, and has been recognized as a green factory by the Ministry of Industry and Information Technology[144]. - The company has established a volunteer service team, "Firefly Youth Volunteer Service Team," to engage in community service activities, enhancing its corporate social responsibility image[140]. - The company has established an emergency response plan for environmental incidents, which has been recognized as one of the excellent plans in Jiangsu Province[146]. Future Outlook and Plans - The company plans to increase the proportion of high-value-added products to over 80% of total production capacity through technology upgrades and product structure adjustments[82]. - The company targets a 10% increase in high-value-added component orders in the 5G communication sector compared to 2019, while expanding orders in the touch display industry[83]. - The company is considering strategic acquisitions to bolster its technology portfolio, with a budget of $100 million allocated for potential deals[179]. - The company plans to enhance its online sales platform, with an investment of $10 million aimed at increasing e-commerce sales by 40%[186].

Financial Performance - Net profit attributable to shareholders was CNY -840,102,241.41, representing a decline of 35.51% year-on-year[8]. - Operating revenue for the reporting period was CNY 1,273,554,384.30, down 7.75% compared to the same period last year[8]. - The basic earnings per share were CNY -0.1854, a decrease of 32.50% year-on-year[8]. - The weighted average return on net assets was -9.98%, a decline of 20.20% compared to the previous year[8]. - The company reported a net profit excluding non-recurring gains and losses of CNY -857,742,598.61, down 32.47% year-on-year[8]. - The company reported a net loss for the current period of ¥1,418,535,094.78, compared to a net loss of ¥1,063,095,429.34 in the previous period, representing a 33.5% increase in losses[63]. - The total comprehensive loss attributable to the parent company was ¥843,560,807.77, compared to ¥620,016,460.51 in the previous period, indicating a 36.1% increase in comprehensive losses[66]. - Net profit for the current period was reported at -¥3,046,953,948.17, compared to -¥2,690,163,690.87 in the previous period, indicating a decline in profitability[78]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 29,292,341,192.85, a decrease of 9.01% compared to the end of the previous year[8]. - Total liabilities amounted to CNY 15,612,417,155.30, a slight increase from CNY 15,460,231,464.34 year-over-year[46]. - Non-current liabilities increased to CNY 9,825,921,663.91 from CNY 8,195,012,076.53, reflecting a growth of approximately 19.9%[46]. - Current liabilities decreased to CNY 5,786,495,491.39 from CNY 7,265,219,387.81, a reduction of about 20.3%[46]. - The total equity attributable to shareholders decreased to CNY 7,994,211,580.59 from CNY 9,795,046,533.70, representing a decline of approximately 18.4%[49]. - The company's total assets were reported at CNY 29,292,341,192.85, down from CNY 32,193,635,089.33[49]. - The company's cash and cash equivalents decreased to approximately ¥1.81 billion from ¥2.24 billion, reflecting a decline of about 19%[40]. - The company's total equity decreased to CNY 13,679,924,037.55 from CNY 16,733,403,624.99, reflecting a decline of approximately 18.3%[49]. Cash Flow - Cash flow from operating activities was CNY 310,104,623.54, an increase of 11.22% year-to-date[8]. - Cash inflow from investment activities is ¥109,465,734.52, compared to ¥38,244,705.23 in the previous period, showing a significant increase[89]. - Cash flow from financing activities shows a net outflow of -¥400,985,824.51, a decrease from a net inflow of ¥647,186,044.25 in the previous period[92]. - Operating cash flow net amount was -14,397,159.42 yuan, an improvement from -23,216,181.18 yuan in the previous period, indicating a reduction in cash outflow[93]. - Cash inflow from investment activities was 20,751,877.47 yuan, significantly higher than 1,374,044.15 yuan in the previous period, showing a positive trend in investment recovery[93]. Shareholder Information - The top ten shareholders held a total of 1,110,344,828 shares, accounting for 24.51% of the total shares[12]. - The company has established internal control systems and risk management mechanisms for derivative trading, ensuring compliance with legal regulations[40]. Research and Development - Development expenses rose by 143.14% to RMB 16,000.12 million, attributed to new product research and development[19]. - The company is actively developing 5G TCXO products to meet market demand and is expanding its customer base for high-end products[23]. - Research and development expenses were ¥34,153,040.45, slightly down from ¥35,072,425.09, indicating a decrease of 2.6%[60]. Derivative Investments - The total nominal principal amount for derivative investments was 85,862 million RMB, with a report period actual profit and loss amounting to 5,540.12 million RMB[29]. - The company engaged in multiple USD interest rate swaps with initial investment amounts of 10,000 million RMB, resulting in a total of 6,500 million RMB remaining at the end of the period for each swap[29]. - The company had no impairment provisions recorded during the reporting period for its derivative investments[29]. - The company utilized self-owned funds for the settlement of all derivative contracts, including currency swaps and foreign exchange forwards[29]. - The company’s derivative investment strategy appears to be focused on hedging against currency fluctuations and interest rate risks[29]. Market Performance - The company’s sales volume for laptop products increased by 233% month-over-month, with cumulative sales up 154% year-on-year[23]. - The overall sales revenue for the first three quarters increased by 2% year-on-year, while total operating costs decreased by 3.8%[23]. - The company has seen significant growth in export orders, leading to an increase in gross profit[23].

Financial Performance - The company's operating revenue for the first half of 2019 was ¥2,349,868,395.72, representing an increase of 8.21% compared to ¥2,171,516,863.96 in the same period last year[24]. - The net profit attributable to shareholders of the listed company was -¥956,970,961.26, a slight decrease of 0.20% from -¥955,101,510.94 in the previous year[24]. - The basic earnings per share were -¥0.2113, a decrease of 0.19% from -¥0.2109 in the same period last year[24]. - The diluted earnings per share were also -¥0.2113, reflecting the same decrease of 0.19% compared to -¥0.2109 in the previous year[24]. - The weighted average return on equity was -10.27%, which is a decline of 1.00% from -9.27% in the previous year[24]. - The company reported a net loss of ¥2,370,237,163.90, compared to a loss of ¥1,413,266,202.64 in the previous period, indicating a worsening of financial performance[166]. - The net loss for the first half of 2019 was CNY -1,628,418,853.39, slightly higher than the net loss of CNY -1,627,068,261.53 in the same period of 2018[180]. Cash Flow - The net cash flow from operating activities was ¥620,210,932.78, a significant increase of 1,786.00% compared to -¥36,786,019.95 in the same period last year[24]. - The net cash flow from investing activities improved by 62.66%, amounting to CNY -262,754,220.02, primarily due to a decrease in project payments[49]. - The net increase in cash and cash equivalents reached CNY 1,068,050,674.51, reflecting a dramatic rise of 4,724.09% influenced by operating and investment cash flows[49]. - Cash inflow from operating activities totaled ¥3,627,908,044.44, an increase from ¥3,197,310,376.44 in the same period of 2018[191]. - The company's cash outflows from operating activities were ¥3,007,697,111.66, down from ¥3,234,096,396.39 in the first half of 2018[191]. - Cash inflow from financing activities totaled 4,859,631,062.83, compared to 3,844,153,118.09 in the previous year, indicating a 26.4% increase[194]. - The ending cash and cash equivalents balance was 3,128,988,129.80, up from 1,561,704,260.48, reflecting a significant increase[194]. Assets and Liabilities - Total assets at the end of the reporting period were ¥31,253,801,447.65, down 2.92% from ¥32,193,635,089.33 at the end of the previous year[24]. - The company's long-term borrowings increased by 2.53% to CNY 7,194,990,839.96, representing 23.02% of total liabilities[53]. - Total liabilities increased to ¥16,149,342,620.02 from ¥15,460,231,464.34, which is an increase of approximately 4.5%[166]. - The total equity attributable to shareholders decreased to ¥8,837,772,388.36 from ¥9,795,046,533.70, a decline of approximately 9.8%[166]. - The company's current assets totaled ¥6,210,347,779.74, an increase from ¥6,053,482,753.73, reflecting a growth of about 2.6% year-over-year[160]. Revenue by Industry - The company’s revenue from the flat panel display industry reached RMB 204,287,000, with a year-on-year growth of 9%[45]. - The piezoelectric crystal industry reported revenue of RMB 12,101,000, down 8% year-on-year, with total profit decreasing by 65%[45]. - The touch display industry saw revenue of RMB 12,205,000, marking a 29% increase year-on-year, while losses reduced by 15%[45]. - The magnetic industry generated sales of RMB 5,799,000, reflecting a year-on-year increase of 14.44%[45]. - Revenue from the electronic components industry was CNY 2,349,868,395.72, with a year-on-year increase of 8.21%[49]. - The overseas revenue was CNY 806,967,226.26, showing a year-on-year increase of 43.85%[49]. Research and Development - Research and development investment increased by 17.44% to RMB 175,744,131.96[46]. - The company has developed new products for high-end markets, focusing on high-resolution and high-refresh-rate displays[35]. - The company is actively preparing to apply for a national-level enterprise technology center to enhance its R&D capabilities[74]. - Research and development expenses for the first half of 2019 were CNY 60,844,080.36, a decrease from CNY 63,425,388.63 in the first half of 2018[177]. Environmental Management - The company has established a strict environmental management system and has not encountered any major environmental issues during the reporting period[109]. - The company’s wastewater is treated and discharged in compliance with national and local standards, with no direct discharge of industrial and domestic wastewater[109]. - The company has been recognized as a green factory by the Ministry of Industry and Information Technology in 2018, reflecting its commitment to environmental management[109]. - The company has established an emergency response plan for environmental incidents, which includes comprehensive and specialized response strategies, and has conducted regular drills[110]. Shareholder Information - The total number of shares outstanding is 4,529,566,980, with 35.30% being restricted shares and 64.70% being unrestricted shares[126]. - The total number of ordinary shareholders at the end of the reporting period was 196,081[130]. - Nanjing Zhongdian Panda Information Industry Group Co., Ltd. holds 24.51% of shares, totaling 1,110,344,828 shares, with 555,172,414 shares pledged[130]. - The company did not experience any changes in its controlling shareholder or actual controller during the reporting period[140].

Financial Performance - The company reported a total revenue of 2,264,783,490 RMB, with a significant increase in the flat panel display and touch control business segments[22]. - The company's operating revenue for 2018 was ¥5,702,781,523.33, a decrease of 4.87% compared to ¥5,994,988,894.87 in 2017[24]. - The net profit attributable to shareholders was -¥987,357,576.85, representing a significant decline of 8,577.92% from ¥11,646,221.84 in the previous year[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥1,568,220,302.39, a decrease of 244.60% compared to -¥455,079,217.31 in 2017[24]. - The company's total revenue for 2018 was approximately ¥5.70 billion, a decrease of 4.87% compared to ¥5.99 billion in 2017[51]. - The electronic components industry accounted for 88.38% of total revenue, with a revenue of approximately ¥5.04 billion, down 8.36% year-on-year[51]. - The LCD display and module segment generated approximately ¥4.50 billion, representing 78.90% of total revenue, with a decline of 8.43% from the previous year[51]. - The company reported a weighted average return on equity of -9.60% for 2018, down from 0.11% in 2017[27]. Shareholder Information - The largest shareholder, Nanjing Zhongdian Panda Information Industry Group Co., Ltd., holds 24.51% of the total shares, amounting to 555,172,414 shares[22]. - The company plans not to distribute cash dividends or issue bonus shares for the year[7]. - The company reported a net profit attributable to shareholders of -987,357,576.85 CNY for 2018, with cumulative distributable profits of -1,413,266,202.64 CNY[121]. - The board decided not to distribute profits or increase capital reserves for the years 2016, 2017, and 2018 due to negative distributable profits[121]. Business Transformation and Strategy - The major business transformation since listing has shifted from electric light sources and vacuum electronics to flat panel displays, touch control, quartz crystals, and magnetic electronics[22]. - The company’s future outlook includes a focus on market expansion in the flat panel display sector[22]. - The company aims to strengthen its R&D capabilities, focusing on new product and technology development aligned with market demands[101]. - The company plans to leverage its leading IGZO TFT technology to maintain competitiveness in high-precision display products[99]. - The company aims to achieve a comprehensive upgrade of its display manufacturing capabilities to become a leading player in the new display industry[100]. Research and Development - The company completed the development of cholesteric reflective liquid crystal screens in 2018 and provided samples to customers[39]. - The company developed 52 new models and achieved 5 major technological breakthroughs in 2018[49]. - The company invested ¥479,322,604.69 in R&D, which is 8.41% of the operating revenue, up from 4.77% the previous year[67]. - The number of R&D personnel increased by 23.37% to 1,436, while the proportion of R&D personnel decreased to 22.46%[67]. - The company filed a total of 143 patent applications in 2018, including 99 invention applications[66]. Market and Customer Relations - The company expanded its customer base, successfully partnering with major brands such as Samsung, Dell, and HP[49]. - The company achieved a sales volume of 3,323 K㎡ for LCD panels, a slight increase of 0.33% from 2017[56]. - The company’s overseas revenue increased by 46.51% to approximately ¥1.63 billion, accounting for 28.64% of total revenue[54]. Financial Management and Cash Flow - Operating cash inflows totaled ¥7,752,023,879.65, an increase of 10.81% compared to ¥6,995,499,974.76 in 2017[70]. - Net cash flow from operating activities reached ¥1,373,143,004.82, representing an 86.55% increase from ¥736,083,548.75 in the previous year[70]. - Investment cash inflows surged by 287.77% to ¥986,949,453.96 from ¥254,521,527.47 in 2017[70]. - The net increase in cash and cash equivalents was ¥476,135,654.84, a 77.26% rise from ¥268,606,619.28 in 2017[70]. Environmental and Social Responsibility - The company emphasizes social responsibility and aims to create a resource-saving and environmentally friendly enterprise[176]. - The company has implemented a strict environmental management system to monitor overall environmental performance and ensure compliance with national standards[192]. - The company reported a total wastewater discharge of 643 tons for chemical oxygen demand, well below the permitted limit of 2,215.01 tons per year[189]. - The company also reported a total ammonia nitrogen discharge of 83 tons, significantly under the allowed limit of 183.67 tons per year[189]. - The company actively engages in community support activities, helping 10 underprivileged children in the local area[188]. Legal and Compliance Matters - The company is involved in a lawsuit with a supplier, claiming an amount of approximately 57.98 million RMB, with an arbitration ruling already made and currently in execution[150]. - The company has ongoing commitments to standardize and minimize related party transactions, ensuring compliance with relevant laws and regulations[129]. - The company has not faced any penalties or corrective actions during the reporting period[153]. - The company has not reported any bankruptcy restructuring matters during the reporting period[150]. Operational Challenges and Risks - The global display industry is in a downturn, with demand for mobile products declining by over 10%, TVs by approximately 5%, and displays by around 2%[99]. - The company faces risks from macroeconomic factors, including trade policy changes and geopolitical tensions, which may impact its operations[104]. - The company is addressing potential raw material supply risks by increasing domestic sourcing and optimizing procurement strategies[104].

Financial Performance - The company's operating revenue for Q1 2019 was ¥1,255,991,748.13, representing a 20.10% increase compared to ¥1,045,781,525.36 in the same period last year[8] - The net profit attributable to shareholders was -¥290,077,435.93, a decrease of 21.05% from -¥239,631,174.99 year-on-year[8] - The basic earnings per share for the period was -¥0.0640, a decline of 20.98% from -¥0.0529 in the same period last year[8] - The net loss for the current period was ¥494,044,006.71, compared to a net loss of ¥400,086,828.11 in the previous period, reflecting a deterioration in performance[67] - The total comprehensive loss for the current period was ¥494,033,874.80, compared to a loss of ¥398,744,484.41 in the previous period[67] Cash Flow - The net cash flow from operating activities increased significantly by 335.05%, reaching ¥442,522,776.02 compared to ¥101,717,679.99 in the previous year[8] - The company's cash flow from financing activities saw a drastic decline of 871.88%, resulting in a net outflow of RMB 43,941,010 compared to an inflow of RMB 5,692,710 in the previous year[20] - Cash flow from operating activities for the current period is CNY 442,522,776.02, an increase from CNY 101,717,679.99 in the previous period[75] - The ending balance of cash and cash equivalents is CNY 1,930,676,779.42, up from CNY 1,428,219,680.58 in the previous period[81] - The net cash flow from financing activities was -159,221.68 yuan, compared to a positive flow of 9,260,407.52 yuan in the previous period[85] Assets and Liabilities - The total assets at the end of the reporting period were ¥30,827,806,883.92, down 4.24% from ¥32,193,635,089.33 at the end of the previous year[8] - The company's total assets were reported at ¥12,384,456,646.37, slightly down from ¥12,387,629,386.94 in the previous period[60] - The total liabilities of the company were CNY 14,588,437,133.73, down from CNY 15,460,231,464.34, reflecting a reduction of approximately 5.66%[50] - The company's total equity as of March 31, 2019, was CNY 16,239,369,750.19, compared to CNY 16,733,403,624.99 at the end of 2018, a decrease of about 2.95%[53] - The total liabilities amounted to 15,460,231,464.34 yuan, indicating a stable financial position[91] Shareholder Information - The company reported a total of 227,694 common shareholders at the end of the reporting period[12] - The top shareholder, Nanjing Zhongdian Xiongmao Information Industry Group Co., Ltd., held 1,110,344,828 shares, with 555,172,414 shares pledged[13] - The total equity attributable to shareholders was 9,795,046,533.70 yuan, reflecting the company's retained earnings and capital reserves[91] Research and Development - Development expenditures surged by 112.86% to RMB 14,007,400 from RMB 6,580,690, attributed to new product research and development[20] - Research and development expenses for the current period were ¥28,863,091.67, compared to ¥31,159,727.76 in the previous period, indicating a reduction in R&D spending[64] Derivatives and Risk Management - The total initial investment amount in derivatives was 85,661.93 million RMB, with a beginning investment amount of 46,451.93 million RMB and a year-end investment amount of 65,011.93 million RMB[32] - The actual loss during the reporting period from derivatives was -752.89 million RMB[32] - The company has implemented control measures to mitigate risks, including selecting high-credit banks as trading partners and establishing strict operational procedures[35] - The company has a structured risk management framework in place to monitor and control derivative investments[35] Market and Strategic Focus - The company plans to enhance its marketing system to improve market expansion capabilities[21] - The company is focusing on supply chain improvements to reduce material costs through competitive pricing and local sourcing[23] - The company reported a 26% year-on-year increase in revenue from key partnerships with major brands like Samsung and Dell[23] - The company aims to develop high-end products, achieving a 50% increase in sales of premium items in the crystal industry[23]

Financial Performance - The company's operating revenue for Q1 2019 was ¥1,255,991,748.13, representing a 20.10% increase compared to ¥1,045,781,525.36 in the same period last year[8] - The net profit attributable to shareholders was -¥290,077,435.93, a decrease of 21.05% from -¥239,631,174.99 year-on-year[8] - The basic and diluted earnings per share were both -¥0.0640, reflecting a 20.98% decline from -¥0.0529 in the same period last year[8] - The net loss for the current period was ¥494,044,006.71, compared to a net loss of ¥400,086,828.11 in the previous period, reflecting a deterioration in performance[67] - The company reported a net loss of CNY 1,703,343,638.57 as of March 31, 2019, compared to a net loss of CNY 1,413,266,202.64 at the end of 2018[53] Cash Flow - The net cash flow from operating activities increased significantly by 335.05%, reaching ¥442,522,776.02 compared to ¥101,717,679.99 in the previous year[8] - The company reported a net cash flow from operating activities of RMB 442,522.8, an increase of 335.05% compared to RMB 101,717.7 from the previous year[20] - The cash flow from operating activities for the current period is ¥442,522,776.02, compared to ¥101,717,679.99 in the previous period, showing a significant increase[75] - The net cash flow from financing activities decreased by 871.88% to RMB -439,410.1, primarily due to loan repayments during the period[20] - The net cash flow from financing activities is -¥439,410,057.06, contrasting with a positive cash flow of ¥56,927,139.56 in the previous period, indicating a shift in financing strategy[81] Assets and Liabilities - The total assets at the end of the reporting period were ¥30,827,806,883.92, down 4.24% from ¥32,193,635,089.33 at the end of the previous year[8] - The company's total assets amounted to CNY 30,827,806,883.92, a decrease from CNY 32,193,635,089.33 on December 31, 2018, representing a decline of approximately 4.25%[54] - The company's total liabilities were CNY 14,588,437,133.73, down from CNY 15,460,231,464.34, indicating a reduction of about 5.66%[50] - The company's total liabilities amounted to ¥1,742,000,896.58, a decrease from ¥1,743,930,240.33 in the previous period[60] - The company's total equity was reported at ¥10,642,455,749.79, down from ¥10,643,699,146.61 in the previous period[60] Shareholder Information - The company reported a total of 4,529,566,980 ordinary shareholders at the end of the reporting period[12] - The top shareholder, Nanjing Zhongdian Panda Information Industry Group Co., Ltd., held 1,110,344,828 shares, with 555,172,414 shares pledged[13] - The net assets attributable to shareholders decreased by 2.96%, amounting to ¥9,504,974,938.38 compared to ¥9,795,046,533.70 at the end of the previous year[8] - The company's equity attributable to shareholders decreased to CNY 9,504,974,938.38 from CNY 9,795,046,533.70, a decline of approximately 2.96%[53] Investment and Development - Development expenditures increased by 112.86% to RMB 140,074 from RMB 65,806, primarily due to new product research and development[20] - Investment income surged by 810.75% to RMB 423,500 from RMB 46,500, mainly due to earnings from invested companies[20] - The company achieved a 26% year-on-year revenue growth by strengthening supply chain management and maintaining relationships with major clients like Samsung and Dell[23] Derivatives and Risk Management - The total initial investment amount in derivatives was 85,661.93 million RMB, with a beginning investment amount of 46,451.93 million RMB and a year-end investment amount of 65,011.93 million RMB[32] - The actual loss during the reporting period from derivatives was -752.89 million RMB, indicating a significant impact on financial performance[32] - The company reported a market risk associated with derivatives trading, highlighting potential adverse effects from fluctuations in exchange rates and interest rates[35] - The company has implemented control measures to mitigate risks, including selecting high-credit banks as trading partners and establishing strict operational procedures[35] Financial Standards and Reporting - The company has implemented new financial instrument standards effective from January 1, 2019, which may impact future financial reporting[91] - The company has not yet audited its first-quarter report, which may affect the reliability of the financial data presented[100]

Financial Performance - The company reported a total revenue of RMB 2,264.78 million for the year 2018, marking a significant increase compared to the previous year[22]. - The net profit attributable to shareholders was RMB 555.17 million, representing a growth of 24.51% year-on-year[22]. - The company's operating revenue for 2018 was ¥5,702,781,523.33, a decrease of 4.87% compared to ¥5,994,988,894.87 in 2017[24]. - The net profit attributable to shareholders was -¥987,357,576.85, representing a significant decline of 8,577.92% from ¥11,646,221.84 in the previous year[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥1,568,220,302.39, a decrease of 244.60% compared to -¥455,079,217.31 in 2017[24]. - The net cash flow from operating activities increased by 86.55% to ¥1,373,143,004.82 from ¥736,083,548.75 in 2017[24]. - The total assets at the end of 2018 were ¥32,193,635,089.33, down 4.69% from ¥33,776,463,254.52 at the end of 2017[27]. - The net assets attributable to shareholders decreased by 9.14% to ¥9,795,046,533.70 from ¥10,779,940,778.17 in 2017[27]. - The company reported a weighted average return on equity of -9.60% for 2018, down from 0.11% in 2017[27]. Business Strategy and Operations - The company plans to focus on expanding its flat panel display and touch control business, which has become its main operational area since 2015[22]. - The company is actively investing in new product development and technology innovation to strengthen its market position[22]. - Future outlook includes a commitment to enhancing operational efficiency and exploring strategic partnerships for market expansion[22]. - The company emphasizes the importance of risk awareness in its forward-looking statements regarding future development plans[6]. - The company has established a comprehensive layout in the piezoelectric crystal industry, producing resonators, oscillators, and filters, maintaining a leading position domestically[39]. - The company has launched new products in the magnetic and electric industry, including high-tech electronics and automotive transformers in 2018[39]. - The company has established partnerships with major brands such as Samsung, Dell, and HP, enhancing its market presence[49]. - The company is committed to enhancing its marketing capabilities by building a professional sales team and optimizing pricing mechanisms[101]. Research and Development - The company developed 52 new models and achieved 5 major technological breakthroughs in 2018[49]. - Research and development expenses amounted to ¥116,086,068.04, a 24.14% increase from the previous year[65]. - The company invested ¥479,322,604.69 in R&D, which is 67.78% higher than the previous year's investment[67]. - The R&D investment accounted for 8.41% of the operating revenue, up from 4.77% in the previous year[67]. - The company completed the development of a new oxide TFT process and achieved mass production levels for key technologies[66]. - A total of 143 patents were applied for in 2018, including 99 invention applications[66]. - The company holds 60 authorized patents, including 9 invention patents, demonstrating its strong innovation capabilities[49]. Market Conditions and Challenges - The global display industry is in a downturn, with demand for mobile products declining by over 10%, televisions by approximately 5%, and displays by around 2%[99]. - The company faced a price drop of over 20% in its main products due to oversupply, with some products experiencing price declines of up to 30%[49]. - The company anticipates a 5% increase in production capacity due to the launch of multiple G10.5/11 generation lines in 2019, exacerbating the oversupply situation[99]. - The company faces risks from macroeconomic factors, including trade policy changes and geopolitical tensions, which may impact its operations[104]. Corporate Governance and Compliance - The company is under the supervision of Lixin Accounting Firm, ensuring the accuracy and integrity of its financial reporting[23]. - The company has committed to standardizing and minimizing related party transactions, ensuring compliance with relevant laws and regulations[129]. - The company has made a long-term commitment to avoid competition with its controlling shareholders and related parties, ensuring no similar business activities are conducted[129]. - The company has maintained compliance with its commitments regarding non-competition and has been fulfilling these obligations since 2015[136]. Environmental and Social Responsibility - The company emphasizes social responsibility, aiming to create a resource-saving and environmentally friendly modern enterprise[176]. - The company has implemented a strict environmental management system, ensuring that all wastewater and emissions meet national and local standards, with no significant environmental issues reported in 2018[189]. - The company actively engages in community support activities, helping underprivileged children and promoting social responsibility through educational initiatives[188]. Financial Management and Investments - The company completed a non-public offering of A-shares in 2015, raising funds to enhance its capital structure and support business expansion[22]. - The company has not engaged in any major asset or equity sales during the reporting period[93][94]. - The company has not utilized any raised funds during the reporting period[92]. - The company has reported on the progress of its financing leasing business multiple times, indicating a strategic focus on this segment[196]. Shareholder Relations - No cash dividends or stock bonuses will be distributed to shareholders for the year 2018[7]. - The board decided not to distribute any cash dividends for the years 2016, 2017, and 2018 due to negative distributable profits[121]. - The company received inquiries regarding government subsidies and performance forecasts during the reporting period[107]. - The company has been advised to strengthen its market image and enhance value management[116].