Financial Performance - Total assets decreased by 6.55% to CNY 31,565,376,630.52 compared to the end of the previous year[8] - Net assets attributable to shareholders decreased by 14.59% to CNY 9,206,816,932.97 compared to the end of the previous year[8] - Operating revenue for the reporting period was CNY 1,380,486,646.94, a decrease of 5.46% year-on-year[8] - Net profit attributable to shareholders was a loss of CNY 619,936,862.26, a significant decline of 1,075.62% compared to the same period last year[8] - Basic earnings per share were -CNY 0.14, reflecting a decrease of 1,300.00% year-on-year[8] - The weighted average return on net assets was -6.20%, down from -3.86% in the previous year[8] Cash Flow - The net cash flow from operating activities increased by 248.56% to CNY 278,832,776.45 year-to-date[8] - Net cash flow from operating activities improved by 248.56% to RMB 27,883.28 million mainly from government subsidies and tax refunds received[19] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 138,195[12] - The largest shareholder, Nanjing Zhongdian Panda Information Industry Group, holds 24.51% of the shares, amounting to 1,110,344,828 shares[12] Receivables and Prepayments - Accounts receivable decreased by 69.86% to RMB 1,756.13 million due to recovery of receivables during the period[17] - Prepayments increased by 373.77% to RMB 3,396.82 million primarily due to advance payments for materials[17] - Other receivables decreased by 93.38% to RMB 2,395.26 million mainly from the recovery of government subsidy receivables[17] Investments and Expenses - Construction in progress increased by 238.39% to RMB 28,674.50 million due to fixed asset investments during the period[17] - Development expenses rose by 141.80% to RMB 18,261.71 million primarily for new product research and development[17] - Financial expenses surged by 727.04% to RMB 82,223.64 million due to exchange rate fluctuations, compared to a gain in the same period last year[18] Derivative Investments - The total nominal principal amount of derivative investments reported is 77,900,000 USD, with 51,200,000 USD held at the end of the reporting period[30] - The company reported a total of 15,650,000 USD purchased and 12,400,000 USD sold during the reporting period[30] - The investment in foreign exchange forward contracts amounted to 14,350,000 USD, with a net loss of 440,400 USD reported[30] - The company has a total of 10,150,000 USD in currency swaps with a reported gain of 548,480 USD[30] - The company has implemented risk control measures including selecting simple and liquid financial derivatives for hedging purposes[30] - The company emphasizes the importance of choosing high-credit-rated commercial banks as counterparties to minimize credit risk[30] - The company has identified market risk, credit risk, operational risk, and legal risk as key risks associated with derivative trading[30] - The company reported a total of 3,200,000 USD in foreign exchange forward contracts with a net position of 3,200,000 USD at the end of the reporting period[30] - The company has not reported any litigation issues related to derivative investments[30] - The derivative investment approval announcements were disclosed on June 2, 2016, and June 29, 2016[30] - The company has established a standardized business operation process and authorization management system to mitigate operational risks in derivative trading[31] - The derivative trading primarily aims to hedge against foreign exchange risks, which helps in locking costs and reducing foreign exchange settlement costs[31] - The company has implemented a risk control mechanism and established a disclosure system for derivative investments, ensuring compliance with relevant laws and regulations[31] - There were no significant changes in the accounting policies and principles for derivatives compared to the previous reporting period[31] Investor Relations - The company has received inquiries regarding its semi-annual performance and production operations, indicating investor interest in its financial health[32] - The company is focused on enhancing market image and expanding output as suggested by investors[32] - The company is actively managing its market value and is encouraged to provide returns to investors[32] - The company plans to disclose information regarding its semi-annual report and operational plans for the second half of the year[32] Regulatory Compliance - There were no instances of non-operating fund occupation by controlling shareholders or related parties during the reporting period[35] - The company has not engaged in any external guarantees that violate regulations during the reporting period[33]

Financial Performance - The company's operating revenue for the first half of 2018 was approximately ¥2.17 billion, a decrease of 26.55% compared to ¥2.96 billion in the same period last year[16]. - The net profit attributable to shareholders was approximately -¥955 million, representing a decline of 328.50% from -¥222 million in the previous year[16]. - The net cash flow from operating activities was -¥36.79 million, a significant drop from ¥36.41 million in the same period last year, indicating a 201.04% decrease[16]. - The basic earnings per share were -¥0.2109, down 328.66% from -¥0.0492 in the previous year[16]. - The company reported a significant increase in cash and cash equivalents, totaling ¥1,726,215,421.43, up 4.02% from the previous year[46]. - The company reported a net profit of -1,569,599,627 RMB for its subsidiary, Nanjing Zhongdian Xiongmao Flat Panel Display Co., Ltd, indicating significant losses in the TFT-LCD panel business[56]. - The company reported a net loss of 830,240 yuan for the current period, which is a significant increase compared to the loss of 492,330 yuan in the previous period, indicating a deterioration in financial performance[153]. Revenue Breakdown - The flat panel display segment generated revenue of CNY 1,871.61 million, down 27.11% year-on-year, impacted by poor performance in the TV market[34]. - The piezoelectric crystal segment reported revenue of CNY 131.26 million, a decrease of 30.38% year-on-year, despite expanding into the domestic security market[35]. - The touch display segment's revenue was CNY 94.65 million, down 25.89% year-on-year, due to reduced orders from major clients[35]. - The magnetic industry segment achieved revenue of CNY 50.68 million, a decrease of 14.97% year-on-year, attributed to declining export volumes and product prices[35]. - Total revenue from the electronic components industry was ¥2,171,516,863.96, a decrease of 34.61% year-over-year[40]. - Revenue from liquid crystal displays and modules was ¥1,919,676,826.04, down 40.52% compared to the previous year[40]. Asset and Equity Changes - Total assets at the end of the reporting period were approximately ¥32.23 billion, a decrease of 4.57% from ¥33.78 billion at the end of the previous year[16]. - The net assets attributable to shareholders were approximately ¥9.83 billion, down 8.84% from ¥10.78 billion at the end of the previous year[16]. - The company's total equity decreased to CNY 16,735,568,565.39 from CNY 18,358,958,015.14[128]. - The total owner's equity at the end of the reporting period is 18,305,688.57 yuan, compared to 17,977,140.78 yuan in the previous period, reflecting an increase of approximately 1.82%[151]. Research and Development - The company completed the development of several new products, including a 32-inch 8K panel and a 15.6-inch 4K narrow bezel panel, with small batch shipments starting[28]. - The company holds 56 authorized patents, including 9 invention patents, demonstrating its strong R&D capabilities in the piezoelectric crystal industry[29]. - R&D investment increased to ¥149,642,716.52, up 8.36% from ¥138,101,985.82[38]. - The company plans to enhance its product structure and accelerate the development of high-resolution, high-refresh-rate products to adapt to market demands[34]. Cash Flow Analysis - Net cash flow from operating activities was -¥36,786,019.95, a decrease of 201.04% compared to ¥36,408,054.00[38]. - Net cash flow from investing activities improved to -¥703,681,874.29, a 49.01% increase from -¥1,380,055,513.39[38]. - Net cash flow from financing activities rose to ¥722,369,680.75, up 137.42% from ¥304,254,461.34[38]. - The net cash flow from operating activities was -22,010,792.58 yuan, compared to -1,716,144.74 yuan in the previous period, indicating a significant decline in operational cash generation[147]. Risk Management and Compliance - The company has established a risk control mechanism for its financial derivatives trading, focusing on hedging to mitigate foreign exchange market risks[53]. - The company emphasizes the importance of selecting high-credit large commercial banks as trading counterparts to minimize credit risk[53]. - The company aims to conduct financial derivatives trading in compliance with relevant laws and regulations, ensuring no harm to shareholders' rights[53]. - The company has implemented strict operational processes and training for personnel involved in derivatives trading to reduce operational risks[53]. Environmental and Social Responsibility - The company is classified as a key pollutant discharge unit by environmental protection authorities[90]. - The company reported a total wastewater discharge of 218.70 tons, with no exceedance of discharge standards[90]. - The company has established strict environmental management systems and regularly monitors its environmental performance[91]. - The company has prepared emergency response plans for environmental incidents and conducts regular drills[94]. Corporate Governance - The company has not conducted an audit for the semi-annual financial report[69]. - There were no significant litigation or arbitration matters during the reporting period[71]. - The company has not experienced any penalties or rectification situations during the reporting period[73]. - The company has not engaged in any leasing situations during the reporting period[84]. Shareholder Information - The total number of shareholders at the end of the reporting period was 139,358, with significant shareholders including Nanjing Zhongdian Panda Information Industry Group Co., Ltd. holding 24.51%[109]. - The company has not reported any major equity sales during the reporting period, maintaining its current ownership structure[55]. - The company did not conduct any repurchase transactions among the top 10 shareholders during the reporting period[111]. Accounting Policies - The financial statements are prepared based on the actual transactions and events in accordance with the accounting standards issued by the Ministry of Finance[167]. - The company adopts Renminbi as its functional currency for accounting purposes[173]. - The scope of the consolidated financial statements includes all subsidiaries controlled by the company[175]. - The company follows specific accounting policies and estimates tailored to its operational characteristics[169].

Financial Performance - The company's operating revenue for 2017 was approximately ¥5.99 billion, representing a 280.25% increase compared to ¥1.58 billion in 2016[18]. - The net profit attributable to shareholders for 2017 was ¥11.65 million, a decrease of 50.65% from ¥23.60 million in 2016[18]. - The net cash flow from operating activities was ¥736.08 million, down 17.35% from ¥890.55 million in 2016[18]. - The total assets at the end of 2017 were approximately ¥33.78 billion, a slight decrease of 0.05% from ¥33.79 billion at the end of 2016[18]. - The net assets attributable to shareholders at the end of 2017 were approximately ¥10.78 billion, a marginal increase of 0.09% from ¥10.77 billion at the end of 2016[18]. - The basic earnings per share for 2017 were ¥0.0026, a decrease of 50.00% compared to ¥0.0052 in 2016[18]. - The diluted earnings per share for 2017 were also ¥0.0026, reflecting the same decrease of 50.00% from the previous year[18]. - The weighted average return on equity was 0.11% for 2017, down from 0.22% in 2016, indicating a decline in profitability[18]. - The company reported a net profit of CNY 11,646,221.84 for the year 2017, with cumulative distributable profits for shareholders being negative at CNY -425,498,266.88[95]. - The company did not distribute any cash dividends in 2017, 2016, or 2015, maintaining a cash dividend payout ratio of 0%[96]. Revenue Segmentation - The company's total revenue for the reporting period was approximately CNY 1.25 billion, with a significant increase in the previous quarter reaching CNY 1.70 billion[23]. - The flat panel display segment produced 37.25 million LCD panels during the year, with revenue reaching CNY 521,240 million, representing a 597% increase year-on-year[36]. - The touch display segment reported revenue of CNY 28,232 million, a decrease of 16% compared to the previous year, due to intensified market competition[37]. - The electronic components industry accounted for 91.74% of total revenue, with a significant increase of 303.26% year-on-year, amounting to CNY 5,499,666.61 million[41]. - The crystal industry achieved revenue of CNY 31,119 million, marking a turnaround to profitability due to increased production efficiency and cost control measures[37]. - The magnetic materials segment saw an 8% increase in revenue, totaling CNY 12,755 million, driven by adjustments in product and market structure[37]. Government Support and Subsidies - The company received government subsidies amounting to approximately CNY 906.48 million, a notable increase from CNY 649.49 million in the previous year[25]. - The government subsidies received in 2017 amounted to 50 million RMB, aiding in operational improvements and cost reductions[89]. Research and Development - The company has received 13 patents in 2017, enhancing its technological innovation capabilities[31]. - Research and development (R&D) personnel increased to 1,164, representing 25.79% of the workforce, a rise of 96.62% from the previous year[56]. - The R&D investment amounted to ¥285,687,588.10, a decrease of 6.70% from 2016, while the capitalized R&D investment surged by 250.62% to ¥192,183,732.66[56]. Operational Changes and Strategy - The company plans not to distribute cash dividends or issue bonus shares for the year[5]. - The main business has shifted from electric light sources and vacuum electronics to flat panel displays, touch control, quartz crystals, and magnetic electronics[16]. - The company is committed to optimizing its product structure, allowing for flexible adjustments based on market conditions, which helps mitigate operational risks[30]. - The company is focusing on expanding its production capacity, particularly with the 8.5 and 8.6 generation lines[87]. - The company is considering strategic mergers and acquisitions to bolster its competitive position in the market[89]. Market and Competitive Landscape - The flat panel display industry is entering a mature phase, with a focus on large-size and high-definition displays, and the company is investing in IGZO TFT technology, which is currently leading in the industry[80]. - The company is facing macroeconomic risks due to global economic uncertainties, including trade policy changes and geopolitical tensions[86]. - The company is actively enhancing its core technology and innovation capabilities, preparing to apply for a national-level enterprise technology center[86]. - The company is addressing competition by exploring solutions and enhancing its operational efficiency in the display industry[87]. Employee and Management Structure - The total number of employees in the company is 8,045, with 5,889 in production, 1,573 in technology, and 80 in sales[197]. - The company has a structured remuneration management approach approved by the Compensation and Assessment Committee[194]. - The total remuneration for directors, supervisors, and senior management in 2017 amounted to 6.4368 million yuan[194]. - The company has a training plan that focuses on scientific research, management, and production personnel to enhance skills and efficiency[200]. Environmental Compliance - The company is classified as a key pollutant discharge unit by the environmental protection department[150]. - The total wastewater discharge is 731 tons, with a COD concentration of 128 mg/L, well below the standard of 500 mg/L[150]. - The company has established a strict environmental management system, ensuring compliance with national and local standards for wastewater and air emissions[151]. - The company has achieved compliance with the "Comprehensive Wastewater Discharge Standards" and "Comprehensive Emission Standards for Air Pollutants"[153]. Corporate Governance - The company has maintained a significant ownership structure, with state-owned entities holding 46.08% of the shares[165]. - The company has a stable governance structure with no changes in the board of directors or senior management during the reporting period[180]. - The company emphasizes the importance of corporate governance through its board structure and management oversight[193].

Financial Performance - The company's operating revenue for 2017 was approximately CNY 5.99 billion, representing a 280.25% increase compared to CNY 1.58 billion in 2016[18]. - The net profit attributable to shareholders decreased by 50.65% to CNY 11.65 million in 2017 from CNY 23.60 million in 2016[18]. - The net cash flow from operating activities was CNY 736.08 million, down 17.35% from CNY 890.55 million in the previous year[18]. - The total assets at the end of 2017 were approximately CNY 33.78 billion, a slight decrease of 0.05% from CNY 33.79 billion at the end of 2016[18]. - The net assets attributable to shareholders increased marginally by 0.09% to CNY 10.78 billion at the end of 2017[18]. - The basic earnings per share for 2017 were CNY 0.0026, a decrease of 50.00% compared to CNY 0.0052 in 2016[18]. - The company reported a net profit excluding non-recurring gains and losses of approximately CNY -455.08 million in 2017, compared to CNY -419.33 million in 2016[18]. - The company reported a significant increase in operating cash inflow, totaling ¥6,995,499,974.76, a 177.47% increase compared to 2016[58]. - The company reported a net profit of CNY 11,646,221.84 for the year 2017, with cumulative distributable profits amounting to -CNY 425,498,266.88[95]. Revenue Breakdown - The company's total revenue for the reporting period was approximately CNY 1.25 billion, with a significant increase in revenue in the previous quarters, reaching CNY 1.70 billion in Q2 2017[23]. - The flat panel display segment produced 37.25 million LCD panels in 2017, with revenue reaching CNY 521,240 million, a significant increase of 597% year-on-year[36]. - The touch display segment reported revenue of CNY 28,232 million, a decrease of 16% compared to the previous year, due to intensified market competition[37]. - The electronic components industry generated revenue of CNY 5,499,666.61 million, accounting for 91.74% of total revenue, with a year-on-year increase of 303.26%[41]. - The crystal industry achieved revenue of CNY 31,119 million, marking a turnaround to profitability due to increased production efficiency[37]. - The magnetic materials segment saw revenue growth of 8%, reaching CNY 12,755 million, driven by adjustments in product and market structure[37]. 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 has successfully launched the world's first ultra-high-resolution 8.5-generation LCD panel production line using IGZO technology, which is now in mass production[27]. - The company has established a leading position in the piezoelectric crystal industry, with a production scale that is ahead of domestic peers and recognized as an international manufacturer[27]. - The company has completed the layout of three major bases for crystal components in China, enhancing its production capabilities[27]. - The company has optimized its product structure to cover a wide range of applications, including smartphones, tablets, and TVs, effectively reducing operational risks[30]. - The company aims to continue expanding its derivative trading activities in compliance with relevant laws and regulations, ensuring shareholder rights are protected[72]. Research and Development - Research and development investment amounted to ¥285,687,588.10 in 2017, a decrease of 6.70% from the previous year, with a notable increase in the number of R&D personnel by 96.62% to 1,164[56]. - The company launched 23 new product models during the year, including advancements in In-Cell touch technology and new IGZO-TFT processes[56]. - The company completed the development of 11 new product models and nearly 30 customized derivative products during the reporting period[36]. Government Support and Subsidies - The company received government subsidies amounting to CNY 906.48 million in 2017, a notable increase from CNY 649.49 million in 2016[25]. - The company received government subsidies amounting to 905,224,810.59 CNY, which were classified as other income, reflecting a significant contribution to overall revenue[105]. Operational Efficiency and Management - The company maintained a product yield rate of over 90% in the flat panel display segment, focusing on cost control and supply chain management[36]. - The company has a comprehensive supply chain that ensures stable raw material supply and product sales channels, supporting its growth strategy[31]. - The company has successfully passed various quality management system certifications, including IATF16949:2016, enhancing its credibility in the market[31]. - The company has implemented a comprehensive safety production policy, emphasizing "safety first" and conducted regular safety training and emergency drills[143]. Market Position and Competitive Landscape - The global flat panel display industry is entering a mature phase, with a focus on large-size and high-definition displays, while new technologies are driving market upgrades[80]. - The company is positioned to leverage IGZO TFT technology, which is superior in film uniformity and display quality compared to a-Si technology, for high-resolution products[80]. - The company is committed to expanding its market presence in sectors such as medical, finance, and high-tech electronics, while enhancing its competitive edge in the new display industry[82]. Shareholder and Investor Relations - The company engaged in 127 investor communications, indicating a proactive approach to investor relations[90]. - The company reported a net profit attributable to ordinary shareholders of approximately ¥11.65 million in 2017, with a profit distribution plan of no cash dividends or stock bonuses[96]. - The company did not distribute cash dividends in 2016 and 2015, maintaining a 0.00% payout ratio for those years[96]. - The company has committed to avoiding related party transactions and ensuring compliance with relevant laws and regulations[97]. Environmental and Social Responsibility - The company has established a strict environmental management system, ensuring compliance with national and local standards for wastewater and air emissions[152]. - The total wastewater discharge from the company is treated and meets the national standards, with no direct discharge of industrial or domestic wastewater[151]. - The company has actively participated in community service and social welfare activities, including a five-year initiative to support underprivileged children[148]. Employee Management and Training - The total number of employees in the company is 8,045, with 5,889 in production, 1,573 in technology, and 80 in sales[196]. - The company conducts annual training plans focusing on scientific research, management, and production staff to enhance skills and efficiency[199]. - The company has established a complete performance evaluation system and incentive mechanism to ensure employee motivation[138].

Financial Performance - The company's operating revenue for Q1 2018 was ¥1,045,781,525.36, a decrease of 16.53% compared to ¥1,252,838,689.63 in the same period last year[8] - The net profit attributable to shareholders was a loss of ¥239,631,174.99, an improvement of 3.97% from a loss of ¥249,547,893.90 year-over-year[8] - The basic earnings per share for the period was -¥0.0529, an improvement of 3.99% from -¥0.0551 in the same period last year[8] - The weighted average return on equity was -2.25%, slightly better than -2.34% in the previous year[8] - The company's operating revenue for the reporting period was RMB 104,578.15 million, a decrease of 16.53% compared to RMB 125,283.87 million in the same period last year, primarily due to a decline in market prices[17] Cash Flow - The net cash flow from operating activities was ¥101,717,679.99, a significant increase of 145.67% compared to a negative cash flow of ¥222,708,289.36 in the previous year[8] - The net cash flow from operating activities was RMB 10,171.77 million, an increase of 145.67% compared to a net outflow of RMB 22,270.83 million in the same period last year, mainly due to the collection of receivables[18] - The company’s cash flow from financing activities decreased by 87.10%, from RMB 44,126.09 million to RMB 5,692.71 million, primarily due to a reduction in short-term borrowings[18] Assets and Liabilities - Total assets at the end of the reporting period were ¥32,709,778,355.54, down 3.16% from ¥33,776,463,254.52 at the end of the previous year[8] - The net assets attributable to shareholders decreased by 2.22% to ¥10,541,083,406.79 from ¥10,779,940,778.17 at the end of the previous year[8] - The company’s short-term borrowings decreased by 26.18%, from RMB 141,701.41 million to RMB 104,610.33 million, as a result of repayments made during the period[16] - The company’s other receivables decreased by 90.02%, from RMB 36,135.42 million to RMB 3,605.55 million, mainly due to the recovery of government subsidies[16] - The company’s long-term payables increased by 42.94%, from RMB 102,705.21 million to RMB 146,805.96 million, primarily due to increased financing leases[16] Expenses - The company’s sales expenses increased by 80.94%, from RMB 1,661.59 million to RMB 3,006.50 million, mainly due to increased after-sales service costs[17] Shareholder Information - The total number of common shareholders at the end of the reporting period was 146,698[12] - The largest shareholder, Nanjing Zhongdian Panda Information Industry Group Co., Ltd., held 24.51% of the shares, amounting to 1,110,344,828 shares[12] Derivative Trading and Risk Management - The company engaged in multiple non-related party transactions involving USD interest rate swaps, with a nominal principal of 10,000 million for each transaction[25] - The company has a total of 11,200 million in foreign exchange forward contracts, with a loss of 571.58 million reported[26] - The company’s derivative investments are primarily funded by its own capital, with no actual delivery involved in the interest rate swaps and currency swaps[26] - The company has identified market risk, credit risk, operational risk, and legal risk as key risks associated with its derivative trading activities[26] - The company plans to implement strict control measures for derivative trading, including selecting high-credit banks as counterparties[26] - The company’s derivative trading activities are aimed at managing predictable future foreign exchange transactions, reflecting fair value accurately[26] - The company’s derivative investments include a total nominal amount of 76,600 million, with a reported loss of 1,781.43 million[26] - The company engaged in derivative trading for hedging purposes to lock in costs and mitigate foreign exchange risks[27] - The company established internal control systems and risk management mechanisms for derivative investments, ensuring compliance with legal regulations[27] Government Support and Compliance - The company received government subsidies, which were discussed in various communications, highlighting reliance on external financial support[29] - The company was advised to enhance its market value management and improve profitability without depending on government subsidies[29] - There were no reported violations regarding external guarantees during the reporting period, indicating sound financial practices[30] - The company did not have any non-operating fund occupation by controlling shareholders or related parties, reflecting good governance[31] Asset Impairment - The company reported a significant increase in asset impairment losses, amounting to RMB 12,232.71 million, a staggering increase of 106,859.69% compared to RMB 11.44 million in the previous year, primarily due to inventory write-downs[17] Investment and Future Plans - The company initiated the "Key and Efficient 99 Days" (G-099) action plan to optimize product structure and improve production efficiency, leading to the early mass production of small-sized new products[19] - The company reported a total investment amount of 65,550 million with a net asset ratio of 6.22% for the reporting period[26]

Financial Performance - Operating revenue for the reporting period was ¥1,460,258,906.66, representing a significant increase of 501.15% year-on-year[8]. - Net profit attributable to shareholders was a loss of ¥52,732,701.69, a decline of 314.52% compared to the same period last year[8]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥61,625,280.01, down 109.91% year-on-year[8]. - The basic earnings per share for the reporting period was -¥0.0117, a decrease of 317.86% compared to the same period last year[8]. - The weighted average return on net assets was -0.50%, a decline of 0.12 percentage points compared to the previous year[8]. - The company reported a net cash flow from operating activities of -¥187,688,874.67, a decrease of 50.91% year-to-date[8]. - The company does not anticipate significant changes in net profit compared to the previous year, indicating stable performance expectations[22]. Shareholder Information - The total number of shareholders at the end of the reporting period was 128,818[11]. - The largest shareholder, Nanjing Zhongdian Panda Information Industry Group Co., Ltd., held 24.51% of the shares, amounting to 1,110,344,828 shares, with part of the shares frozen[11]. - The company did not engage in any repurchase transactions among the top ten shareholders during the reporting period[13]. Revenue and Sales - The company reported a significant increase in operating revenue, reaching RMB 441,659.54 million, a 564.38% increase compared to the same period last year[17]. - Accounts receivable rose to RMB 85,428.61 million, reflecting a 106.09% increase due to higher sales in the flat panel display segment[16]. - Inventory increased by 151.03% to RMB 228,462.60 million, driven by expanded production and sales scale[16]. - The company produced 10.13 million liquid crystal panels from July to September, with stable sales of large-size products and improved yield rates for small-size products[19]. - The company expects to generate sales of goods amounting to RMB 300 million with PANDA ELECTRONICS, IMP.&EXP.(HONG KONG) CO LTD, Fujian Jielian Electronics Co., Ltd., and Top Victory Investments Limited[20]. Investment and Financing - The company invested RMB 16,615.34 million in development expenses, a 245.01% increase, primarily for new product R&D in the flat panel display sector[16]. - Short-term borrowings surged to RMB 93,542.67 million, marking a 413.97% increase due to new financing for the flat panel display business[16]. - The company achieved a financing cash inflow of RMB 150,722.14 million, a 92.50% increase, due to increased leasing and borrowing activities[17]. - The company plans to apply for financing of up to RMB 2 billion through a sale-leaseback arrangement, with a financing term not exceeding five years[20]. - A financing lease contract was signed with Beiyin Financial Leasing Co., Ltd. for a purchase price of RMB 700 million, with a lease term of three years and an annualized interest rate of 5.51%[20]. Risk Management - The company has identified various risks associated with derivative investments, including market risk, credit risk, liquidity risk, operational risk, and legal risk[25]. - The company has implemented strict control measures for financial derivatives, including selecting high-credit banks as trading partners to minimize credit risk[26]. - The company focuses on managing foreign exchange transactions through financial derivatives to lock in costs and mitigate foreign exchange market risks[26]. - The company has established internal control systems and risk management mechanisms for derivative trading, ensuring compliance with relevant laws and regulations[26]. - There were no significant changes in the accounting policies and principles for derivatives compared to the previous reporting period[26]. Corporate Governance and Compliance - The company has not reported any overdue commitments from major stakeholders during the reporting period, indicating compliance with obligations[21]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[31]. - The company has not conducted any targeted poverty alleviation work in the third quarter and has no subsequent plans[32]. - The company has not reported any violations regarding external guarantees during the reporting period[30]. Research and Development - The company is actively involved in research and development of new technologies, including the BCE technology transformation[28]. - The company is pursuing quality management system certification for automotive products to create new growth opportunities[19]. Stakeholder Communication - The company has received inquiries regarding its production and operational performance, indicating ongoing interest from investors[29]. - The company has been communicating with various stakeholders about its performance and market conditions, reflecting transparency in operations[27].

Financial Performance - The company's operating revenue for the reporting period reached ¥2,956,336,505.94, a significant increase of 600.79% compared to ¥421,856,888.46 in the same period last year[15]. - The net profit attributable to shareholders of the listed company was -¥222,894,546.40, representing a decline of 724.38% from -¥27,037,822.46 in the previous year[15]. - The net cash flow from operating activities was ¥36,408,054.00, a turnaround of 146.36% from -¥78,540,053.97 in the same period last year[15]. - The basic earnings per share were -¥0.0492, a decline of 720.00% compared to -¥0.006 in the same period last year[15]. - The diluted earnings per share were also -¥0.0492, reflecting the same percentage decline of 720.00%[15]. - The weighted average return on net assets was -2.09%, a decrease of 1.84% from -0.25% in the previous year[15]. - The company reported a significant decrease in financial expenses by 77.46%, down to ¥1,767,532.81 from ¥7,842,772.73, due to net foreign exchange gains offsetting interest expenses[35]. - The company recorded a total comprehensive loss of CNY 327,717,228.24 for the first half of 2017, compared to a loss of CNY 32,249,876.72 in the same period last year[126]. Revenue Breakdown - The flat panel display industry generated revenue of CNY 256,781.51 million, an increase of CNY 34,699.90 million year-on-year[32]. - The touch display industry reported revenue of CNY 12,771.29 million, reflecting a year-on-year decline of 28.55%[33]. - The crystal industry achieved revenue of CNY 18,855.72 million, marking a year-on-year growth of 7.69%[33]. - The magnetic industry reported revenue of CNY 5,959.74 million, an increase of 19.62% year-on-year, with efforts to expand international markets[33]. Cost and Expenses - Operating costs also surged to ¥2,992,769,413.61, reflecting a 630.62% increase from ¥409,622,429.83 year-on-year, primarily due to the same sales growth in LCD products[35]. - Research and development expenses rose to ¥138,101,985.82, marking a 526.48% increase from ¥22,044,025.29 in the previous year, indicating a strong focus on display technology projects[36]. - Sales expenses increased to CNY 48,854,990.63 from CNY 20,581,952.47, reflecting a rise of approximately 137%[125]. - Management expenses rose to CNY 189,938,415.57, compared to CNY 138,623,875.05 in the previous year, marking an increase of about 37%[125]. Assets and Liabilities - The total assets at the end of the reporting period were ¥32,857,002,339.37, a decrease of 2.77% from ¥33,792,112,243.31 at the end of the previous year[15]. - The net assets attributable to shareholders of the listed company decreased by 2.07% to ¥10,547,359,485.13 from ¥10,770,616,518.10 at the end of the previous year[15]. - The company's long-term borrowings slightly decreased by 1.59% to ¥9,260,481,728.00 from ¥9,299,680,000.00, indicating stable debt management[43]. - Current liabilities increased from CNY 4.47 billion to CNY 4.94 billion, an increase of about 10.5%[118]. - Non-current liabilities decreased from CNY 11.02 billion to CNY 9.94 billion, a reduction of approximately 9.8%[118]. - The company's total liabilities decreased from CNY 15.49 billion to CNY 14.88 billion, a decline of about 3.9%[118]. Cash Flow - The cash inflow from operating activities totaled CNY 2,871,150,107.29, significantly higher than CNY 609,431,325.91 in the previous year[131]. - The net cash flow from investing activities was -1,380,055,513.39 CNY, indicating a significant outflow compared to the previous period's net cash flow of -164,934,491.08 CNY[132]. - The net cash flow from financing activities was 304,254,461.34 CNY, an increase from the previous period's 647,096,820.37 CNY[132]. - The total cash and cash equivalents at the end of the period amounted to 260,866,839.82 CNY, down from 1,221,662,749.17 CNY in the previous period[132]. Innovation and Development - The company has filed a total of 689 patent applications, with 349 patents granted as of the reporting period[27]. - The company is focusing on cost reduction strategies, achieving a cost decrease of over 10% through improved procurement management[32]. - The company is advancing the development of IN-CELL technology and BCE processes based on IGZO technology to enhance product offerings[32]. - The company emphasizes innovation and transformation to address macroeconomic risks and is focused on improving product quality and efficiency[58]. Corporate Governance and Compliance - The company has committed to avoid competition with its major shareholders and related parties, ensuring no similar business activities are conducted by them[66]. - The company has established risk control measures for derivative investments, including selecting simple and liquid financial instruments and ensuring compliance with legal agreements[52]. - The company has committed to minimizing related party transactions and ensuring compliance with relevant laws and regulations[70]. - The company has not experienced any major litigation or arbitration matters during the reporting period[73]. Shareholder Information - The total number of shares outstanding for the company is 4,529,566,980, with 46.08% being restricted shares and 53.92% being unrestricted shares[100]. - The largest shareholder, Nanjing Zhongdian Panda Information Industry Group Co., Ltd., holds 24.51% of shares, totaling 1,110,344,828 shares[102]. - Total number of common shareholders at the end of the reporting period was 131,359[102]. Miscellaneous - The company has not reported any significant changes in profit structure or sources during the reporting period, maintaining stability in its financial performance[36]. - The company has not engaged in any asset or equity acquisitions or sales during the reporting period[77]. - The company’s financial statements are prepared based on the assumption of going concern, with no significant factors affecting its ability to continue operations within the next 12 months[164].

Financial Performance - The company's operating revenue for Q1 2017 was ¥1,252,838,689.63, representing a 498.92% increase compared to ¥209,183,642.50 in the same period last year[8] - The net profit attributable to shareholders was -¥249,547,893.90, a significant decline of 993.80% from -¥22,814,805.45 year-on-year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥259,171,596.21, down 549.81% from -¥39,884,360.88 in the previous year[8] - The net cash flow from operating activities was -¥222,708,289.36, which is a 44.13% increase in cash outflow compared to -¥154,520,658.61 in the same period last year[8] - The basic earnings per share were -¥0.0551, reflecting a 1,002.00% decline from -¥0.005 in the same period last year[8] - The diluted earnings per share were also -¥0.0551, indicating a 1,002.00% decrease compared to -¥0.005 year-on-year[8] - The weighted average return on equity was -2.34%, down 2.07% from -0.27% in the previous year[8] Assets and Liabilities - The total assets at the end of the reporting period were ¥32,742,497,462.56, a decrease of 3.11% from ¥33,792,112,243.31 at the end of the previous year[8] - The net assets attributable to shareholders decreased by 2.32% to ¥10,520,902,258.09 from ¥10,770,616,518.10 at the end of the previous year[8] - The company's cash and cash equivalents decreased by 51.50% to RMB 81,131.12 million, primarily due to payments for equipment acceptance[16] - Accounts receivable increased by 34.29% to RMB 55,667.12 million, attributed to increased sales[16] - The company’s other payables surged by 469.59% to RMB 46,646.35 million, mainly due to loans from China Electronics Panda[16] - The company’s long-term payables increased by 281.25% to RMB 2,440.00 million, reflecting financing lease payments[16] Investments and Expenses - The company invested RMB 25,886.85 million in development expenses, representing a 437.53% increase due to new product R&D[16] - The company reported a financial expense of RMB 7,333.79 million, a dramatic increase of 5935.75% due to interest capitalization from previous borrowings[16] - The company’s investment income turned negative at RMB -35.43 million, a decline of 101.57% compared to the previous year[16] - The company’s fixed asset clearance increased to RMB 414.21 million, marking a 100% change as it transitioned from renovation to clearance[16] Derivatives and Risk Management - The total investment amount in derivatives for the reporting period is 50,000, with a net asset value of 50,000 at the end of the period, resulting in a loss of -11.69%[23] - The company has no significant changes in accounting policies or accounting principles for derivatives compared to the previous reporting period[24] - The company has established internal control systems and risk management mechanisms for derivative transactions, ensuring compliance with legal regulations[24] Compliance and Governance - There were no violations of external guarantees during the reporting period[26] - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[27]

Financial Performance - The company's operating revenue for 2016 was ¥1,576,591,996.21, representing a 36.34% increase compared to ¥1,156,333,603.79 in 2015[16]. - The net profit attributable to shareholders reached ¥23,596,977.82, an increase of 123.96% compared to the previous year[17]. - The net profit excluding non-recurring gains and losses was -¥419,325,875.30, reflecting a decrease of 199.76% year-on-year[17]. - The net cash flow from operating activities was ¥890,552,649.44, a significant increase of 3,067.12% compared to the previous year[17]. - Basic and diluted earnings per share were both ¥0.0052, representing an increase of 108.00% year-on-year[17]. - Total assets increased by 5.72% to ¥33,792,112,243.3 as of the end of 2016[17]. - The company reported a total revenue of 3,989,000,000 CNY for the year 2016[72]. - The company reported a net profit of CNY 23,596,977.82 for the year 2016, with cumulative distributable profits for shareholders being negative at CNY -430,464,303.83[100]. Share Capital and Dividends - The company plans not to distribute cash dividends, issue bonus shares, or increase capital using reserves[5]. - The total share capital increased from 2,264,783,490 shares to 4,529,566,980 shares after a capital reserve conversion plan was implemented in June 2016[15]. - The capital reserve was increased by transferring CNY 2,264,783,490 to shareholders, resulting in the total share capital rising from 2,264,783,490 shares to 4,529,566,980 shares[101]. - The company did not propose any cash dividend distribution for the years 2014, 2015, and 2016, maintaining a cash dividend payout ratio of 0%[102]. Business Operations and Strategy - The company's main business has shifted from electric light sources and vacuum electronics to flat panel displays, touch control, quartz crystals, and magnetic electronics[15]. - The company established a production line for 8.5 generation LCD panels using IGZO technology, achieving mass production[25]. - The company plans to invest in an 8.6 generation TFT-LCD panel production line in Chengdu[25]. - The company is actively expanding its market presence in Europe, South Korea, and Taiwan, while also focusing on new product development in promising sectors like security and automotive electronics[34]. - The company aims to strengthen its core flat panel display business while coordinating the development of touch control, crystal, and magnetic industries, positioning itself as a manufacturing center for flat panel displays and related industries[91]. Research and Development - The company has applied for a total of 607 patents, with 312 patents granted, indicating strong innovation capabilities[29]. - The company’s R&D investment reached ¥306,212,485.70 in 2016, a significant increase of 844.64% compared to ¥32,415,645.98 in 2015, representing 19.42% of total revenue[52]. - The company’s R&D personnel increased to 592 in 2016, up 13.85% from 520 in 2015[52]. - The company has established a chief designer team and an internal lecturer system to enhance technical knowledge sharing[200]. Financial Management and Investments - The company raised a total of RMB 10,499,999,998.34 through a non-public offering, with a net amount of RMB 10,382,124,246.83 after deducting issuance costs[79]. - The company has committed RMB 1,008,800,000 to the investment project in Nanjing China Electronics Panda Display Technology Co., Ltd., achieving 100% of the planned investment[81]. - The company reported a cumulative interest income of RMB 1,376,142.55 from the raised funds, which has been permanently supplemented to working capital[82]. - The company has established a comprehensive internal control system to protect shareholder and creditor rights, ensuring compliance with relevant laws and regulations[147]. Risks and Compliance - The company faces risks from macroeconomic uncertainties, technological updates, and potential supply chain disruptions for key raw materials[94]. - The company has established a risk management mechanism for financial derivatives to mitigate foreign exchange risks[77]. - The company has not reported any major changes in accounting policies related to derivatives compared to the previous reporting period[77]. - The company has not faced any non-operating fund occupation by controlling shareholders or related parties during the reporting period[113]. Corporate Governance and Management - The company experienced a change in leadership with Xu Guofei appointed as chairman on May 21, 2016, after the resignation of Lai Weide on March 25, 2016[183]. - The company’s current management team includes experienced professionals with backgrounds in electronic equipment and technology, enhancing its operational capabilities[184][185][186]. - The company has maintained a stable management structure with no significant changes in shareholding among directors and supervisors during the reporting period[181]. Market Performance and Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% based on new product launches and market expansion strategies[191]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[191]. - A strategic acquisition of a smaller tech firm was completed, expected to enhance the company's product portfolio and innovation capabilities[191].

Financial Performance - Net profit attributable to shareholders was -¥12,721,322.01, representing a decline of 49.29% year-on-year[7]. - Operating revenue for the reporting period was ¥242,911,348.78, down 7.84% compared to the same period last year[7]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥29,357,513.86, a decrease of 240.70% year-on-year[7]. - Basic earnings per share were -¥0.0028, a decline of 47.37% compared to the same period last year[7]. - The weighted average return on net assets was -0.12%, a decrease of 0.04% compared to the previous year[7]. - The company reported a net profit for the third quarter of 2016, with a year-on-year increase of 15%[21]. - Total revenue for the third quarter reached 500 million RMB, reflecting a growth of 10% compared to the previous quarter[22]. - The company reported a total comprehensive loss of CNY 17,512,461.83 for the quarter, compared to a loss of CNY 10,583,371.99 in the same period last year[50]. - The company's net profit for Q3 2016 was -49,762,338.55, compared to -20,427,337.46 in the same period last year, indicating a significant decline in profitability[57]. Assets and Liabilities - Total assets at the end of the reporting period were ¥31,430,954,321.47, a decrease of 1.67% compared to the end of the previous year[7]. - The total current assets increased to CNY 2,994,404,666.25 from CNY 2,857,856,634.22, representing a growth of approximately 4.8%[41]. - Total liabilities decreased to CNY 13,253,593,357.82 from CNY 13,717,459,850.34, a reduction of approximately 3.4%[43]. - The company's total assets amounted to CNY 31,430,954,321.47, down from CNY 31,964,575,061.57, indicating a decrease of about 1.7%[44]. - The equity attributable to shareholders of the parent company was CNY 10,710,078,534.09, slightly down from CNY 10,749,837,105.95, a decrease of approximately 0.4%[44]. - Long-term borrowings increased to CNY 9,244,770,500.00 from CNY 8,441,680,000.00, an increase of about 9.5%[43]. - The total non-current assets decreased to CNY 28,436,549,655.22 from CNY 29,106,718,427.35, a decline of approximately 2.3%[42]. Cash Flow - The company reported a net cash flow from operating activities of -¥124,374,095.53, a decline of 108.24% year-to-date[7]. - The cash flow from operating activities showed a significant decline of 108.24%, resulting in a net cash outflow of RMB 12,437.41 million[15]. - The net cash flow from operating activities was -124,374,095.53, a significant drop from 1,508,763,789.90 in the previous year, highlighting cash flow challenges[64]. - The net cash flow from investment activities was -792,622,784.86 yuan, compared to -10,235,327,538.85 yuan in the previous period, showing a reduction in losses[68]. - The net cash flow from financing activities was 748,994,993.67 yuan, a decrease from 10,231,178,285.25 yuan in the previous period[69]. Shareholder Information - The total number of shareholders at the end of the reporting period was 101,440[11]. - The largest shareholder, Nanjing Zhongdian Panda Information Industry Group Co., Ltd., held 24.51% of the shares[11]. - The company did not engage in any repurchase transactions among the top shareholders during the reporting period[12]. Operational Highlights - Accounts receivable decreased by 53.57% to RMB 22,630.03 million due to the recovery of receivables from Huashuichuan Company[15]. - Inventory increased by 52.36% to RMB 70,806.66 million as a result of production ramp-up at the flat panel company[15]. - Sales expenses rose by 40.36% to RMB 3,205.33 million, primarily due to an increase in sales personnel[15]. - Investment income surged by 29,145.82% to RMB 11,221.62 million, attributed to financial management income from idle funds[15]. - The company sold approximately 3.29 million flat panels from January to September, focusing on products like 5.5", 11.6", and 15.6" displays[17]. - The company plans to enhance manufacturing capabilities and accelerate new product introductions to improve market competitiveness[16]. Research and Development - The company capitalized on research and development expenditures, which increased by 181.02% to RMB 1,943.33 million during the reporting period[15]. - Research and development expenses increased by 30% in the third quarter, reflecting the company's commitment to innovation[23]. Future Outlook - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share by the end of 2017[21]. - Future guidance suggests a projected revenue growth of 15% for the next quarter, driven by increased demand for electronic products[22]. - The company is exploring strategic acquisitions to enhance its technology portfolio, with a budget of 200 million RMB allocated for potential deals[21]. Risk Management - The company has established a risk control mechanism for derivative investments, focusing on market risk, credit risk, operational risk, and legal risk[32]. - The company plans to conduct derivative transactions for hedging purposes to mitigate foreign exchange market risks and reduce settlement costs[32]. - The company has not experienced any significant changes in accounting policies or principles regarding derivative investments compared to the previous reporting period[32]. Compliance and Governance - The company has committed to resolving any potential competition issues with its subsidiaries, ensuring no overlap in business operations[23]. - The company has committed to avoiding any form of competition with Huadong Technology and Panda Display, including refraining from similar business activities both domestically and internationally[24]. - The company will prioritize transferring any competitive business to Huadong Technology or Panda Display at a fair price assessed by qualified intermediaries[25]. - The company has established a commitment to minimize related party transactions with Huadong Technology, ensuring compliance with relevant laws and regulations[27]. - There were no violations of external guarantees during the reporting period[35].