Financial Performance - The company's operating revenue for 2019 was CNY 1,136,072,299.54, representing a 19.90% increase compared to CNY 947,488,018.77 in 2018[19]. - The net profit attributable to shareholders decreased by 40.36% to CNY 86,769,193.40 from CNY 145,493,021.11 in the previous year[19]. - The net profit after deducting non-recurring gains and losses increased by 171.19% to CNY 35,886,008.26 from CNY 13,232,851.45 in 2018[19]. - The net cash flow from operating activities was CNY 85,720,451.74, down 57.83% from CNY 203,291,908.85 in 2018[19]. - The basic earnings per share decreased by 39.51% to CNY 0.124 from CNY 0.205 in the previous year[19]. - Total assets at the end of 2019 were CNY 2,321,710,599.41, a 3.94% increase from CNY 2,233,622,141.49 at the end of 2018[19]. - The net assets attributable to shareholders increased by 1.81% to CNY 1,928,289,808.98 from CNY 1,894,006,700.33 in 2018[19]. - The weighted average return on net assets decreased to 4.54% from 7.82% in the previous year[19]. - Operating costs rose by 18.66% to CNY 817.98 million[39]. - The company's total expenses for management, sales, and finance reached CNY 156.33 million, an increase of 217.98%[39]. Cash Flow and Investments - The company's cash and cash equivalents decreased by 35.02% compared to the beginning of the year, primarily due to increased purchases of financial products[33]. - The company's trading financial assets increased by 59.09% compared to the beginning of the year, attributed to the purchase of structured deposit financial products[33]. - The company’s prepayments increased by 38.21% compared to the beginning of the year, indicating a rise in procurement activities[33]. - The company reported a significant increase of 1397.26% in operating costs for electronic smart payment products, indicating a strategic focus on this segment[53]. - Investment income surged by 391.47% year-on-year to 64,238,654.69, driven by increased returns from investments[57]. - Operating cash inflow increased by 6.84% year-on-year to 1,284,993,807.98, while operating cash outflow rose by 20.00% to 1,199,273,356.24[61]. Market and Competition - The company faces challenges such as slowing domestic economic growth and increasing market competition[6]. - The company aims to enhance its core competitiveness and operational capabilities through resource integration and market expansion[34]. - The company is actively expanding its overseas market presence, particularly in Southeast Asia, West Asia, and Central and West Africa, to achieve a more balanced and stable regional revenue structure[87]. - The company anticipates growth opportunities in mobile communication smart security chips due to the upcoming 5G commercial rollout in 2020[83]. - The company faces intensified market competition, particularly in funding strength, design capabilities, product quality, and cost control, which could impact its main business and profits[88]. Research and Development - The company has increased its investment in research and development for mobile payment and security terminal products during the reporting period[34]. - Research and development investment increased by 4.24% to CNY 127.04 million[39]. - The number of R&D personnel increased by 5.09% to 392, although their proportion of total employees decreased by 1.30%[59]. - The company aims to leverage IoT development opportunities, particularly in financial payment, mobile communication, and information security, to establish IoT as a new long-term growth point[85]. - The company will enhance its development and innovation in security products like communication modules, RFID, and mobile smart terminals, while exploring blockchain technology to enrich its product line[86]. Shareholder and Dividend Policy - The company plans to distribute no cash dividends and no bonus shares for the year[6]. - The company has not distributed cash dividends or capital reserves in the past three years, indicating a focus on reinvestment rather than shareholder payouts[94]. - The company's cash dividend policy has been strictly followed, with no cash dividends proposed for the reporting period despite positive profits available for distribution[93]. - The company reported a total distributable profit of ¥1,022,055,351.76, with a cash dividend distribution amounting to ¥53,009,074.03, representing 5.19% of the total profit distribution[98]. - The company has committed to not distributing bonus shares or converting capital reserves into share capital for the year 2019[98]. Corporate Governance - The company has established a complete and independent business, personnel, asset, organization, and financial structure, ensuring no reliance on the controlling shareholder[180]. - The company has three independent directors, accounting for one-third of the board, complying with legal and regulatory requirements[180]. - The company has a robust internal control system, which has been verified to be effective without any major defects or risks identified[187]. - The company respects and protects the legitimate rights and interests of stakeholders, promoting balanced development among all parties[178]. - The company has established a performance evaluation and incentive mechanism for directors, supervisors, and managers, ensuring transparency and compliance with regulations[178]. Employee and Management - The total number of employees in the company is 1,377, with 1,186 in the parent company and 191 in major subsidiaries[171]. - The company has a total of 488 technical personnel, 146 administrative personnel, and 22 financial personnel among its workforce[171]. - The compensation for the board of directors and senior management during the reporting period totaled 434.16 million yuan[170]. - The company has implemented a compensation policy that emphasizes fairness internally and competitiveness externally, following principles of labor distribution and efficiency[173]. - The company conducted skill enhancement and innovative thinking training for various positions in 2019[174].

Financial Performance - The company's operating revenue for 2017 was ¥1,207,704,433.57, a decrease of 10.76% compared to ¥1,353,352,597.08 in 2016[20] - The net profit attributable to shareholders for 2017 was ¥162,648,403.93, an increase of 11.09% from ¥146,405,344.51 in 2016[20] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥86,850,637.87, a decrease of 46.15% from ¥161,271,044.34 in 2016[20] - The net cash flow from operating activities was ¥112,667,396.53, down 62.56% from ¥300,948,358.13 in 2016[20] - Basic earnings per share for 2017 were ¥0.228, an increase of 11.22% from ¥0.205 in 2016[20] - The total assets at the end of 2017 were ¥2,152,751,490.72, an increase of 1.83% from ¥2,114,073,367.25 at the end of 2016[20] - The net assets attributable to shareholders at the end of 2017 were ¥1,794,188,026.42, an increase of 9.68% from ¥1,635,809,038.12 at the end of 2016[20] - The weighted average return on equity for 2017 was 9.48%, up from 9.17% in 2016[20] - The company reported a significant reduction in sales expenses by 20.37% to approximately ¥73.02 million compared to the previous year[58] - The investment income decreased by 70.99% to approximately ¥5.55 million, primarily due to lower returns from entrusted investments[58] Revenue Breakdown - The company’s industrial revenue accounted for 96.13% of total operating revenue, with a year-on-year decrease of 11.09%[46] - The company’s revenue from module products increased by 37.18% year-on-year, reaching CNY 164.13 million[46] - The overseas market revenue decreased by 35.56% to CNY 34.43 million, indicating challenges in international expansion[47] - The card production segment generated revenue of approximately ¥991.24 million, down 15.83% from the previous year, with a gross margin of 30.59%[49] - The module segment saw a revenue increase of 37.18% year-over-year, reaching approximately ¥164.13 million, but with a lower gross margin of 11.60%[49] - The company's total revenue for the industrial sector was approximately ¥1.16 billion, a decrease of 11.09% year-over-year, with a gross margin of 27.93%[49] Research and Development - Research and development investment decreased by 22.29% to CNY 121.78 million[38] - The number of R&D personnel decreased by 25.37% to 350, accounting for 29.05% of the total workforce[62] - The company has maintained a strong competitive edge through continuous investment in R&D for mobile payment and security terminal products[34] - The company is actively involved in blockchain technology research and has made strategic collaborations to support the "Belt and Road" initiative, expanding its international footprint[30] Strategic Initiatives - The company aims to enhance its core competitiveness by integrating resources and improving operational capabilities in new product development and market expansion[34] - The company plans to continue enhancing its product portfolio and developing new solutions in line with emerging industry technologies[40] - The company is focusing on expanding its product lines in communication modules, RFID, and mobile smart terminals to enhance its market offerings[82] - The company is actively responding to the national "Belt and Road" strategy, increasing efforts to expand overseas markets, particularly in Southeast Asia and the Middle East[83] Shareholder and Governance - The company did not distribute any cash dividends or bonus shares for the year[6] - The company’s profit distribution policy complies with regulatory requirements, ensuring that minority shareholders' rights are protected[90] - The company has committed to not transferring or managing its shares for 36 months following its stock market listing, ensuring stability in shareholding[95] - The company has established a platform for investor relations to ensure timely and accurate disclosure of information to shareholders[131] - The company has a performance evaluation and incentive mechanism in place for directors, supervisors, and management personnel, ensuring transparency and compliance with regulations[176] Market Position and Competition - The company has established strong partnerships with over 100 banks and three major telecom operators in China, enhancing its market presence[30] - The company’s SIM card products were successfully included in the offerings of the three major telecom operators, maintaining its position as a leading supplier in the domestic communication IC card market[41] - The company won the bid for the "2017 Second 128K Three-in-One Procurement Project" from China Unicom, marking a significant competitive achievement[39] Legal and Compliance - The company reported no major litigation or arbitration matters during the reporting period[109] - The company confirmed that there were no penalties or rectification issues during the reporting period[110] - The integrity status of the company and its controlling shareholders remained good, with no significant debts overdue[111] Employee and Talent Management - The company reported a total of 1,205 employees, with 1,053 in the parent company and 152 in major subsidiaries[170] - The professional composition includes 488 production personnel, 114 sales personnel, 479 technical personnel, 23 financial personnel, and 101 administrative personnel[170] - The company maintains a salary system that is fair internally and competitive externally, following principles of efficiency and sustainability[171] - In 2017, the company focused on skill enhancement and innovative thinking training for various positions[172] Environmental and Social Responsibility - The company strictly adheres to environmental protection regulations, implementing effective comprehensive treatment of wastewater and solid waste, and has established an ISO14001 environmental management system[135] - The company has committed to community social responsibility by providing funding and services to local schools and nursing homes annually[134] - The company has implemented a poverty alleviation plan that includes various initiatives such as education and health poverty alleviation[134]

Financial Performance - Total revenue for 2018 was ¥947,488,018.77, a decrease of 21.55% compared to ¥1,207,704,433.57 in 2017[20] - Net profit attributable to shareholders was ¥145,493,021.11, down 10.55% from ¥162,648,403.93 in the previous year[20] - Net profit after deducting non-recurring gains and losses was ¥13,232,851.45, a significant decline of 84.76% from ¥86,850,637.87 in 2017[20] - Basic earnings per share decreased by 10.09% to ¥0.205 from ¥0.228 in 2017[20] - The company reported a net loss of ¥29,455,424.87 in the third quarter for net profit after deducting non-recurring gains and losses[24] - The company achieved operating revenue of CNY 947.49 million, a decrease of 21.55% compared to the previous year[38] - Net profit attributable to shareholders was CNY 145.49 million, down 10.55% year-on-year[38] - The total operating income from the industrial sector was CNY 890.34 million, representing 93.97% of total revenue, down 23.31% year-on-year[46] - The gross profit margin for the industrial sector was 24.19%, down 3.74% year-on-year[47] - The total cash dividend amount (including other methods) for the reporting period was CNY 46,010,428.76, which accounts for 4.87% of the total distributable profits[94] Cash Flow and Assets - Operating cash flow for the year increased by 80.44% to ¥203,291,908.85, compared to ¥112,667,396.53 in 2017[20] - Cash and cash equivalents increased by ¥418,896,250.03, a significant turnaround from a decrease of -¥377,220,244.01 in the previous year[61] - The company's cash and cash equivalents increased by 117.78% to 774,995,915.93 RMB, now representing 34.70% of total assets[67] - Accounts receivable decreased by 57.84% to 90,851,198.76 RMB, now accounting for 4.07% of total assets, due to improved management[68] - Fixed assets decreased by 36.96% to 194,067,865.01 RMB, representing 8.69% of total assets, primarily due to the sale of real estate[68] Investments and R&D - Research and development investment increased by 0.07% to CNY 121.87 million[38] - The company has a strong emphasis on research and development in mobile payment and security terminal products, indicating a commitment to innovation[34] - The company applied for 110 new invention patents and received 33 new patent authorizations during the reporting period[43] - The company plans to increase investment in new products and technologies related to IoT, 5G, blockchain, and data security to achieve further technological breakthroughs[81] Market Expansion and Strategy - The company aims to expand its international market presence, having set up subsidiaries in Singapore and Kenya, targeting new profit growth areas[36] - The company has established partnerships with over 100 banks and three major telecom operators in China, enhancing its market presence[30] - The company is actively expanding into Southeast Asia and the Middle East Africa markets, leveraging its experience in mobile payment to become a leader in these regions[80] - The company is responding to the national "Belt and Road" strategy by expanding its overseas market presence, particularly in Southeast Asia and the Middle East[81] Shareholder and Dividend Policy - The company did not distribute any cash dividends or bonus shares for the year[7] - The company maintains a profit distribution policy that prioritizes cash dividends, aiming to distribute at least 10% of the annual distributable profits if there are no major investment plans[92] - The company has not conducted cash dividends or capital reserve transfers to increase share capital in the past three years[91] - The cumulative undistributed profits amount to CNY 944,612,685.27, which will continue to be used to supplement working capital[92] Governance and Management - The company has established a governance structure that complies with relevant laws and regulations, ensuring transparency and accountability[162] - The company continues to focus on maintaining stable leadership and governance structures to support its strategic objectives[149] - The company has a diverse board with members having backgrounds in engineering, finance, and management, enhancing its strategic decision-making capabilities[152] - The company has implemented skill enhancement and innovative thinking training programs for various positions in 2018[159] Environmental and Social Responsibility - The company has established an ISO14001 environmental management system to effectively manage waste water and solid waste, demonstrating its commitment to environmental protection[126] - The company reported a total of 3 million RMB allocated for targeted poverty alleviation in Fuping County during the reporting period[124] - The company emphasizes community social responsibility by providing annual support and services to local schools and nursing homes[124] Audit and Compliance - The audit opinion issued was a standard unqualified opinion, confirming that the financial statements fairly reflect the company's financial position and performance[183] - The company has a well-established internal control system, with no significant defects or risks identified during the reporting period[173] - Key audit matters included the assessment of goodwill impairment and the significant asset sale, both of which were deemed critical for the financial reporting[185][188]

Intangible Assets and Goodwill - The company's intangible assets at the end of the period amounted to RMB 276,748,390.09, with a decrease of RMB 2,425.12 due to foreign currency translation[16] - The cumulative amortization of intangible assets increased by RMB 19,585,464.95 during the period, primarily due to amortization and foreign currency translation adjustments[16] - The company's goodwill balance remained unchanged at RMB 86,398,241.14, with no additions or disposals during the period[20] - The company recognized a goodwill impairment of RMB 52,514,546.43 for Shenzhen Yikayi Technology Co., Ltd., bringing the total goodwill impairment to RMB 81,973,223.67[23] - Goodwill impairment loss for Yikayi shares amounted to 115,012,147.24 RMB, with 52,514,546.43 RMB attributable to the parent company[25] - The recoverable amount of the asset group containing goodwill was 7,150,000.00 RMB, resulting in a total impairment loss of 170,726,114.72 RMB[25] - The company assumed that maintaining the 2020 profit level would be the maximum achievable if it continued to hold Yikayi shares without additional investment[25] - The company's total amortization of intangible assets at the end of the period was RMB 144,783,917.72, with a significant portion attributed to patent rights and non-patented technology[16] - Intangible assets decreased by 61.34% at the end of the reporting period, mainly due to impairment of intangible assets formed from the acquisition of subsidiary Yikayi[129] - The company's goodwill decreased by 92.23% year-on-year, primarily due to a goodwill impairment of 52.5145 million yuan in the consolidated financial statements of its subsidiary[189] Construction in Progress and Fixed Assets - The company's construction in progress for the Nanjing office project amounted to RMB 33,968,440.37, with a total investment of RMB 10,843,905.69 during the period[9] - The company's office building renovation project had a budget of RMB 6,100,000.00, with 62.91% of the budget already utilized[9] - The company's total construction in progress at the end of the period was RMB 3,837,623.75, a significant decrease from the beginning balance of RMB 23,124,534.68[8] - The company's fixed assets under operating lease amounted to RMB 33,161,689.91 for the Nanjing office and RMB 111,926,605.50 for the Shanghai office, both still in the process of obtaining property certificates[4] - The company's total investment in the Nanjing office project reached RMB 32,695,600.00, with a cumulative investment ratio of 103.89% of the budget[9] - The company's fixed assets increased by 76.34% at the end of the reporting period, primarily due to the purchase and renovation of office buildings by its wholly-owned subsidiaries, Intelligent System and Runxin, reaching a usable state[129] - Construction in progress decreased by 83.40% at the end of the reporting period, as the purchase and renovation of office buildings by subsidiaries Intelligent System and Runxin reached a usable state[129] - Fixed assets increased by 76.34% year-over-year, reaching RMB 313,581,913.10, primarily due to the purchase and renovation of office buildings by subsidiaries[187] Financial Assets and Investments - The company's financial assets include RMB 863,892,886.64 in trading financial assets (bank wealth management) and RMB 6,030,000.00 in other equity instrument investments, totaling RMB 869,922,886.64[55] - The company's trading financial assets (bank wealth management) increased from RMB 379,200,000.00 at the beginning of the period to RMB 863,892,886.64 at the end of the period[55] - The company's other equity instrument investments decreased from RMB 21,030,000.00 at the beginning of the period to RMB 6,030,000.00 at the end of the period[55] - The company's total financial assets increased from RMB 400,230,000.00 at the beginning of the period to RMB 869,922,886.64 at the end of the period[55] - The company's trading financial assets increased by 127.82% at the end of the reporting period, mainly due to an increase in the amount of financial products held[129] - Trading financial assets increased by 127.82% year-over-year, reaching RMB 863,892,886.64, driven by an increase in unredeemed financial products[187] Revenue and Profitability - Main business revenue decreased to 983,663,155.76 yuan from 1,132,408,456.48 yuan, a decline of 13.1%[91] - Total revenue decreased to 992,573,472.79 yuan from 1,136,072,299.54 yuan, a decline of 12.6%[91] - Revenue from network membership software decreased to 45,155,452.35 yuan from 47,100,301.76 yuan, a decline of 4.1%[91] - Revenue from electronic smart payment devices decreased to 15,137,364.81 yuan from 28,425,688.81 yuan, a decline of 46.7%[91] - Revenue from material sales increased to 7,255,014.41 yuan from 2,704,081.43 yuan, a growth of 168.3%[91] - Total revenue for 2020 was 992.57 million yuan, a decrease from 1.14 billion yuan in 2019[109] - Operating costs for 2020 were 1.00 billion yuan, compared to 1.11 billion yuan in 2019[109] - R&D expenses in 2020 were 127.47 million yuan, slightly higher than 127.04 million yuan in 2019[109] - Net profit attributable to the parent company in 2020 was 1.02 billion yuan, down from 1.06 billion yuan in 2019[107] - Revenue for 2020 decreased to 915.76 million yuan from 1.04 billion yuan in 2019, representing a decline of approximately 12.3%[113] - Net profit for 2020 was -26.47 million yuan, a significant drop from 87.03 million yuan in 2019, indicating a loss compared to the previous year[110] - Operating profit for 2020 was -33.56 million yuan, compared to 90.97 million yuan in 2019, reflecting a substantial decline in profitability[110] - Total comprehensive income for 2020 was -27.18 million yuan, down from 87.14 million yuan in 2019, showing a negative trend in overall financial performance[111] - Basic earnings per share (EPS) for 2020 were 0.0025 yuan, a sharp decrease from 0.1238 yuan in 2019[111] - Sales revenue from goods and services in 2020 was 1.09 billion yuan, down from 1.24 billion yuan in 2019, indicating a 12.3% decline[116] - Research and development expenses increased slightly to 110.88 million yuan in 2020 from 108.62 million yuan in 2019, showing continued investment in innovation[113] - Total cash inflows from operating activities in 2020 were 1.13 billion yuan, down from 1.28 billion yuan in 2019, reflecting reduced cash generation[116] - The company reported a credit impairment loss of -5.24 million yuan in 2020, compared to -2.09 million yuan in 2019, indicating increased financial risk[110] - The company's total assets impairment loss in 2020 was -112.82 million yuan, significantly higher than -16.59 million yuan in 2019, reflecting increased asset write-downs[110] - Operating cash flow from activities was -16,932,896.92, a significant decrease from 85,720,451.74 in the previous year[117] - Investment cash inflow totaled 3,261,793,820.53, up from 1,145,423,818.84 in the prior year[117] - Cash outflow for investments was 3,340,872,702.36, compared to 1,450,461,361.34 in the previous year[117] - Net cash flow from financing activities was 60,636,187.80, a positive shift from -53,009,074.03 in the prior year[118] - Net increase in cash and cash equivalents was -39,200,506.29, compared to -272,191,486.76 in the previous year[118] - Sales revenue from goods and services was 1,022,683,722.03, down from 1,129,914,964.17 in the prior year[120] - Net cash flow from operating activities was 148,718,399.40, a significant improvement from -34,003,784.90 in the previous year[120] - Investment cash inflow was 1,463,753,301.58, up from 529,961,763.40 in the prior year[121] - Net cash flow from investment activities was -356,831,186.02, compared to -75,896,669.39 in the previous year[121] - Net increase in cash and cash equivalents was -208,471,541.21, compared to -162,902,932.38 in the prior year[121] Shareholder and Equity Information - Limited-sale shares decreased by 77,000 shares, from 108,881,625 shares (15.62%) to 108,804,625 shares (15.61%)[46] - Unlimited-sale shares increased by 77,000 shares, from 588,039,729 shares (84.38%) to 588,116,729 shares (84.39%)[46] - Total shares remained unchanged at 696,921,354 shares (100.00%)[46] - Zhao Changjian's restricted shares decreased by 77,000 shares, from 308,000 shares to 231,000 shares due to executive lock-up[49] - The total number of common shareholders at the end of the reporting period was 70,924, compared to 72,714 at the end of the previous month[52] - Qian Jing, the largest shareholder, holds 143,920,147 shares (20.65%), with 107,943,860 shares under restricted conditions and 35,981,287 shares unrestricted[52] - E Fund Central Huijin Asset Management holds 14,048,600 shares (2.02%)[52] - Cai Xiao holds 3,044,375 shares (0.44%)[52] - Quan Xuezhe holds 2,438,900 shares (0.35%)[52] - Jiang Lina holds 2,350,000 shares (0.34%)[52] - The company's largest shareholder, Qian Jing, holds 35,981,287 unrestricted shares, accounting for a significant portion of the total shares[53] - The total number of shares remained unchanged at 696,921,354.00[78] Risk Management - The company manages credit risk through policies that assess customer creditworthiness and set credit terms, with regular monitoring of customer credit records[56] - The company's liquidity risk management ensures sufficient funds to meet financial obligations, with regular analysis of debt structure and maturity[57] - The company monitors bank loan usage and maintains credit lines with financial institutions to mitigate liquidity risk[58] - The company's credit risk management includes setting credit terms based on customer financial conditions, third-party guarantees, and market conditions[56] - The company's liquidity risk management includes maintaining sufficient funds to meet financial obligations and regularly analyzing debt structure and maturity[57] Government Subsidies - Government subsidies increased by 5,420,000.00 yuan, with a total balance of 6,055,828.29 yuan at the end of the period[73] - The subsidy for the big data project promoting the integration of manufacturing and the internet decreased by 400,000.00 yuan, leaving a balance of 800,000.00 yuan[74] - The subsidy for the IoT security certification project based on domestic chips and cryptographic algorithms decreased by 128,000.00 yuan, leaving a balance of 352,000.00 yuan[74] - The subsidy for the 5G mobile communication network identity recognition module R&D and industrialization project decreased by 195,283.02 yuan, leaving a balance of 217,216.98 yuan[74] - The subsidy for the active visual Bluetooth smart card R&D and industrialization project decreased by 198,750.00 yuan, leaving a balance of 2,981,250.00 yuan[75] - The subsidy for the 5G mobile communication domestic security identification module project decreased by 512,820.51 yuan, leaving a balance of 1,487,179.49 yuan[75] - The subsidy for the 5G mobile communication smart card industry application product project decreased by 21,818.18 yuan, leaving a balance of 218,181.82 yuan[75] - Government grants related to assets are recognized as deferred income and amortized over the useful life of the related assets[160] - Government grants related to income are either recognized as deferred income or directly included in current profits, depending on their nature[161] Accounting Policies and Standards - The company uses the balance sheet liability method for corporate income tax, recognizing deferred tax assets and liabilities based on differences between book and tax values[162] - For operating leases, the company recognizes rental payments as expenses or income over the lease term, with initial direct costs either expensed or capitalized[164] - In operating leases, the company as a lessor recognizes rental income on a straight-line basis over the lease term, with initial direct costs either expensed or capitalized[165] - The company changed its accounting policy for special IoT business revenue from the gross method to the net method, significantly impacting 2020 revenue and cost of sales, but not affecting total assets, liabilities, or equity at the beginning or end of 2020[169] - Pre-received customer contract consideration was reclassified from "Advance Receipts" to "Contract Liabilities," with amounts of 30,323,143.65 RMB (consolidated) and 3,075,151.56 RMB (company) as of January 1, 2020[170] - Transportation costs previously included in selling expenses were adjusted to contract performance costs under the new revenue recognition standard[169] - As of December 31, 2020, contract liabilities under the new revenue standard were 75,481,072.03 RMB (consolidated) and 63,154,008.35 RMB (company), compared to 83,942,563.78 RMB (consolidated) and 71,261,483.95 RMB (company) under the old standard[173] - Total assets as of January 1, 2020 remained unchanged at 2,321,710,599.41 RMB after implementing the new revenue standard[177] - The company's 2020 consolidated revenue was 992,573,472.79 RMB under both new and old revenue standards, while consolidated cost of sales decreased from 710,798,080.56 RMB to 728,893,067.02 RMB under the new standard[173] - Selling expenses decreased from 81,604,745.76 RMB to 63,509,759.30 RMB (consolidated) under the new revenue standard[173] - As of January 1, 2020, the company's total current assets were 1,698,176,361.06 RMB, including 503,576,108.14 RMB in cash and 379,200,000.00 RMB in trading financial assets[175] - Total non-current assets as of January 1, 2020 were 623,534,238.35 RMB, including 210,630,598.55 RMB in long-term equity investments and 177,832,871.02 RMB in fixed assets[176] - Current liabilities as of January 1, 2020 were 288,972,343.63 RMB, including 217,186,217.57 RMB in accounts payable and 30,323,143.65 RMB in contract liabilities[177] - Total liabilities amount to 304,441,115.69 RMB, with non-current liabilities totaling 15,468,772.06 RMB[178] - Total owner's equity is 2,017,269,483.72 RMB, including 1,928,289,808.98 RMB attributable to the parent company[178] - Total assets amount to 2,231,531,035.10 RMB, with current assets totaling 1,184,542,915.21 RMB and non-current assets at 1,046,988,119.89 RMB[180] - Long-term equity investments stand at 798,496,769.28 RMB, representing a significant portion of non-current assets[180] - Fixed assets are valued at 172,314,665.59 RMB, contributing to the company's non-current asset base[180] - Total liabilities and owner's equity combined amount to 2,231,531,035.10 RMB, matching the total assets[182] - The company's capital reserve is 15,636,112.82 RMB, reflecting its financial stability[182] - Undistributed profits are reported at 1,057,230,121.02 RMB, indicating strong profitability[182] - The company applies the expected credit loss model for financial instrument impairment, requiring significant judgment and estimation[183] - Revenue recognition involves critical judgments, including identifying customer contracts and estimating variable consideration[183] - Inventory impairment provision was made based on the lower of cost or net realizable value, with specific criteria for identifying impairment[184] Subsidiaries and Overseas Expansion - The company has established subsidiaries in Singapore, Kenya, and Indonesia to strengthen overseas market development and expand new profit growth spaces[130] - The company holds a significant market share in the three major operators' IoT connection services, with the number of connected devices expected to grow substantially[128] - The company's terminal products, such as mPOS and smart POS, are driven by sales volume and cost control, catering to the demand for online recharge and payment in traditional gas and transportation applications[128] - The company's system platform products provide comprehensive solutions for mobile payment and instant card issuance, integrating the latest technologies like mobile PAY, HCE, QR codes, and mobile TA shield[128] - The company achieved a revenue of 923.37 million yuan in the TW sector, with a gross margin of 25.30%, representing a year-on-year decrease of 0.71%[133] - The top five customers accounted for 15.34% of total annual sales, with

中兴华会计师事务所(特殊普通合伙) ZHONGXINGHUA CERTIFIED PUBLIC ACCOUNTANTS LLP 地址：北京市西城区阜外大街 1 号四川大厦东座 15 层 邮编：100037 电话：(010)68364878 传真：(010)68364875 目 录 恒宝股份有限公司 前期会计差错更正的 专项说明审核报告 1. 前期会计差错更正专项说明 三、审核报告附件 一、前期会计差错更正专项说明审核报告 二、审核报告附送 1. 中兴华会计师事务所（特殊普通合伙）营业执照复印件 2. 中兴华会计师事务所（特殊普通合伙）执业证书复印件 3. 注册会计师执业证书复印件 恒宝股份有限公司 前期会计差错更正专项说明 恒宝股份有限公司 前期会计差错更正专项说明 恒宝股份有限公司（以下简称"公司"或"本公司"）于 2016 年度至 2020 年度发现以下会计 差错事项，根据《企业会计准则第 28 号——会计政策、会计估计变更和差错更正》、中国证 券监督管理委员会《公开发行证券的公司信息披露编制规则第 19 号——财务信息的更正及相 关披露》等相关规定，公司对相关会计差错进行更正，涉及 2016 年度至 2 ...

证券代码：002104 证券简称：恒宝股份 公告编号：2023-039 恒宝股份有限公司 关于公司前期会计差错更正的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、 本次会计差错更正的原因及内容 2023 年 12 月，恒宝股份有限公司（以下简称"公司"）收到中国证券监督 管理委员会（以下简称"中国证监会"）出具的《行政处罚决定书》（〔2023〕 147 号），认定公司存在如下违法事实： （一）专网通信业务的实施情况 恒宝股份及其子公司江苏恒宝智能系统技术有限公司（简称恒宝智能，以下 合称恒宝公司）在恒宝股份前任董事长（已去世）洽谈及决策下，自 2016 年 12 月起从事隋某力主导的专网通信业务，即"特种通信物联网业务"，共执行了 21 个 批次，涉及 3 家客户和 8 家供应商。 专网通信业务的供应商和客户、采购和销售合同的内容，都是由隋某力指派 的人员安排和控制的。恒宝公司不参与货物运输过程，在产品交付前后不承担风 险。根据合同约定，恒宝公司向供应商支付 100%货款、客户向其支付 5%货款作 为定金；完成交货后客户支付其余 95%的货款。 2 ...

证券代码：002104 证券简称：恒宝股份 公告编号：2023-037 恒宝股份有限公司 第八届董事会第八次临时会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 恒宝股份有限公司（以下简称"公司"）第八届董事会第八次临时会议于 2023 年 12 月 27 日上午以通讯会议方式召开。 一、董事会会议召开情况 1 1. 董事会会议通知的时间和方式：公司已于 2023 年 12 月 25 日以书面方式向 公司全体董事发出了会议通知。 2. 董事会会议的时间、地点和方式：2023 年 12 月 27 日上午 9:00 以通讯方式 召开。 3. 本次会议应到董事 8 人，实到董事 8 人。 4. 董事会会议的主持人和列席人员：会议由董事长钱京先生主持，会议列席人 员有公司董事会秘书、证券事务代表及全体监事。 5. 会议的召开符合《公司法》和《公司章程》的有关规定。 二〇二三年十二月二十九日 二、董事会会议审议情况 （一） 会议以 8 票同意、0 票反对、0 票弃权的结果审议通过了《关于公司 前期会计差错更正的议案》。 公司本次会计差错更正符合《企业会计准则 ...

恒宝股份有限公司第八届董事会 审计委员会会议决议 恒宝股份有限公司（以下简称公司）第八届董事会审计委员会会议于 2023 年 12 月 25 日以通讯会议的方式召开，会议应到委员 3 名，实到委员 3 名，符合 《深圳证券交易所股票上市规则》、《深圳证券交易所上市公司自律监管指引第 1 号——规范运作》和《公司章程》等有关规定，会议合法有效。 经与会委员认真审议，形成如下意见： 一、会议以 3 票同意、0 票反对、0 票弃权的结果审议通过了《关于公司前 期会计差错更正的议案》。 公司本次会计差错更正及追溯调整符合《企业会计准则第 28 号—会计政 策、会计估计变更和差错更正》、《公开发行证券的公司信息披露编报规则第 19 号—财务信息的更正及相关披露》等相关规定和要求，更正后的信息能够更加客 观、公允地反映公司的财务状况和经营成果，不存在损害公司及股东利益的情形。 我们同意对前期会计差错进行更正的处理，并同意将该议案提交公司董事会 审议。 表决情况：同意 3 票，占全体有表决权委员人数的 100%；弃权 0 票；反对 0 票。 特此决议！ （以下无正文） （此页无正文，为审计委员会签字页） 丁虹 陈雪娇 徐霄 ...

证券代码：002104 证券简称：恒宝股份 公告编号：2023-038 恒宝股份有限公司 第八届监事会第八次会议决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、监事会会会议召开情况 特此公告！ 恒宝股份有限公司 二〇二三年十二月二十九日 2 公司本次会计差错更正符合《企业会计准则第 28 号——会计政策、会计估 计变更及差错更正》和《公开发行证券的公司信息披露编报规则第 19 号——财 务信息的更正及相关披露》等相关文件的规定，更正后的信息能够更加客观、公 允地反映公司的财务状况和经营成果，董事会关于本次会计差错更正的审议和表 决程序符合法律、法规及《公司章程》等相关规定，不存在损害公司利益及全体 股东合法权益的情形，我们同意董事会关于本次会计差错更正的处理。同时，我 1 1 监事会会议通知的时间和方式：公司已于 2023 年 12 月 25 日以书面方式向 公司全体监事发出了会议通知。 2 监事会会议的时间、地点和方式：2023 年 12 月 27 日下午 13:00 以通讯方 式召开。 3 本次会议应到监事 3 人，实到监事 3 人。 4 监 ...

2023 年 12 月 14 日，公司收到中国证监会出具的《行政处罚决定书》（〔2023〕 147 号），现将相关内容公告如下： 证券代码：002104 证券简称：恒宝股份 公告编号：2023-036 恒宝股份有限公司 关于收到《行政处罚决定书》的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假 记载、误导性陈述或者重大遗漏。 一、基本情况 恒宝股份有限公司（以下简称"恒宝股份"或"公司"）于 2022 年 9 月 2 日 收到中国证券监督管理委员会（以下简称"中国证监会"）对公司的《立案告知 书》（编号：证监立案字 0102022006 号），因公司涉嫌信息披露违法违规，根 据《中华人民共和国证券法》《中华人民共和国行政处罚法》等法律法规，决定 对公司立案调查。具体内容详见公司于 2022 年 9 月 3 日在指定的信息披露媒体 《证券时报》、《中国证券报》、《上海证券报》和网站巨潮资讯网 （http://www.cninfo.com.cn）上披露的《关于收到中国证券监督管理委员会立 案告知书的公告》（公告编号：2022-048）。 公司于 2023 年 9 月 7 日收到中国证监会出 ...