Financial Performance - The company's operating revenue for Q1 2021 was ¥1,510,465,003.83, representing a 105.86% increase compared to ¥733,738,740.69 in the same period last year[3]. - The net profit attributable to shareholders was ¥131,669,342.94, a significant increase of 2,488.26% from a loss of ¥5,513,189.65 in the previous year[3]. - Basic earnings per share reached ¥0.20, compared to a loss of ¥0.01 per share in the same period last year, marking a 2,100.00% increase[3]. - The company reported a net profit for Q1 2021 of CNY 122,810,690.92, a turnaround from a net loss of CNY 13,297,385.18 in Q1 2020[30]. - The company's total comprehensive income for the quarter was CNY 149,142,538.40, a recovery from a loss of CNY 49,349,639.84 in the same quarter last year, reflecting overall financial health improvement[34]. Cash Flow - The net cash flow from operating activities was ¥311,783,959.09, up 24.63% from ¥250,158,465.04 in the same period last year[3]. - Cash flow from operating activities generated a net amount of CNY 311,783,959.09, up from 250,158,465.04 in the first quarter of 2020, reflecting enhanced cash generation capabilities[36]. - The cash flow from financing activities showed a net increase of ¥68,567,969.68, compared to a net outflow of -¥13,078,764.00 in the same quarter last year[39]. - The company received tax refunds amounting to CNY 36,951,397.10, compared to CNY 17,471,645.62 in the previous year, contributing positively to cash flow[36]. Assets and Liabilities - Total assets at the end of the reporting period were ¥9,104,672,669.30, a 6.43% increase from ¥8,554,641,008.78 at the end of the previous year[3]. - Current liabilities totaled CNY 3,439,455,058.96, an increase from CNY 3,161,722,990.74, reflecting a rise of about 8.77%[24]. - The total liabilities amounted to CNY 3,894,737,388.15, up from CNY 3,543,412,819.65, reflecting an increase of approximately 9.92%[24]. - The company's total equity reached CNY 5,209,935,281.15, compared to CNY 5,011,228,189.13, indicating a growth of about 3.95%[25]. Investment and Expenses - Research and development expenses rose by 34.60% to CNY 95,236,786.91, reflecting increased investment in R&D[10]. - The company completed 81.60% of its promised investment in the high-speed optical transceiver module capacity expansion project, with a total investment of ¥15,096.53 million as of March 31, 2021[17]. - Operating costs increased by 91.47% to CNY 1,147,821,974.25 from CNY 599,483,090.79, primarily due to the increase in revenue[10]. - The company incurred an asset impairment loss of CNY 25,335,802.41, which was higher than the CNY 10,500,000.00 recorded in the same period last year, indicating challenges in asset valuation[33]. Shareholder Information - The top shareholder, Fenghuo Technology Group Co., Ltd., holds 41.77% of the shares, totaling 291,478,944 shares[6]. - The company reported a total of 72,885 common shareholders at the end of the reporting period[6]. - There were no agreements for repurchase transactions among the top 10 shareholders during the reporting period[8]. Regulatory and Compliance - The company has committed to ensuring the independence of operations and protecting minority shareholders' interests post-transaction completion[15]. - The company has not reported any significant changes in expected operating performance for the first half of 2021[18]. - The company has implemented new leasing standards starting from 2021, which may affect future financial reporting and asset valuations[40]. - There were no violations regarding external guarantees during the reporting period[19].

Financial Performance - The company's operating revenue for 2020 was approximately ¥6.05 billion, representing a 13.27% increase from ¥5.34 billion in 2019[14]. - The net profit attributable to shareholders for 2020 was approximately ¥487.38 million, a 36.25% increase from ¥357.70 million in 2019[14]. - The net cash flow from operating activities reached approximately ¥918.99 million, showing a significant increase of 245.33% compared to ¥266.12 million in 2019[14]. - Basic earnings per share for 2020 were ¥0.73, up 32.73% from ¥0.55 in 2019[14]. - Total assets at the end of 2020 were approximately ¥8.55 billion, an 18.28% increase from ¥7.23 billion at the end of 2019[15]. - The company achieved a revenue of 6.046 billion yuan in 2020, representing a year-on-year increase of 13%[28]. - The net profit for the year was 452 million yuan, showing a year-on-year growth of 38%[28]. - The gross profit margin for the communication equipment manufacturing sector improved to 23.01%, up by 1.81% from the previous year[32]. - The company reported a total of 33,087,596.64 CNY in non-recurring gains and losses for the year 2020[21]. Research and Development - The company will continue to invest in R&D and talent acquisition to keep pace with rapid technological advancements and market demands[4]. - The company specializes in optical electronic devices and subsystems, providing comprehensive solutions from chips to modules and subsystems[22]. - The company is actively engaged in R&D for next-generation technologies, including 800Gbps technology and onboard optics[22]. - Total R&D investment reached ¥650,462,303.29 in 2020, up from ¥537,880,492.46 in 2019[41]. - Research and development expenses increased to CNY 555,823,650.78 in 2020 from CNY 439,774,042.72 in 2019, marking a rise of about 26.4%[177]. Market Strategy and Expansion - The company plans to strengthen its international market presence while deepening its domestic market efforts[3]. - The company is focusing on expanding its product application areas and exploring new application scenarios for optoelectronic devices[5]. - The company successfully expanded its market presence in Europe and North America, achieving breakthroughs with key clients[28]. - The company anticipates significant growth in demand for optical modules driven by 5G network construction during the "14th Five-Year Plan" period[24]. - The company plans to enhance its global innovation system and has initiated the implementation of an overseas manufacturing platform project[30]. Profit Distribution - The profit distribution plan approved by the board includes a cash dividend of ¥1.7 per 10 shares, totaling approximately ¥118.25 million[5]. - The cash dividend for 2020 represents 24.33% of the net profit attributable to ordinary shareholders, which was 487,379,314.51 yuan[67]. - The cash dividend payout ratio for the last three years has been consistently above 40%, reflecting the company's mature development stage and significant capital expenditure plans[69]. Operational Efficiency - The company is focusing on digital transformation and enhancing smart manufacturing capabilities through automation improvements and digital supply chain initiatives[28]. - The company plans to strengthen supply chain resilience and improve production efficiency through smart manufacturing and advanced process platforms[62]. - The company is committed to a management transformation aimed at risk control and quality improvement, aligning with its goal of becoming a world-class enterprise[62]. Share Capital and Ownership - The total share capital of the company as of the last trading day before disclosure is 697,655,918 shares[16]. - The total number of shares increased from 677,031,918 to 697,851,918, with a net increase of 20,820,000 shares due to stock issuance[106]. - The largest shareholder, Fenghuo Technology Group Co., Ltd., holds 41.77% of the shares, totaling 291,478,944 shares, with no changes during the reporting period[120]. - The company has not engaged in any mergers or acquisitions during the reporting period[126]. Internal Control and Compliance - The company has established a comprehensive internal control system to manage financial risks and ensure asset safety[148]. - The audit opinion for the financial statements was a standard unqualified opinion, issued on April 21, 2021[162]. - The company maintains independence in operations, assets, and finances to protect minority shareholders' interests[72]. - The company has implemented changes in accounting policies and estimates compared to the previous year's financial report[75]. Future Outlook - Future outlook indicates a projected revenue growth of 25% for 2021, driven by new product launches and market expansion strategies[134]. - The company plans to increase its workforce by 10% in 2021 to support its growth initiatives and R&D efforts[134]. - The company is exploring potential mergers and acquisitions to enhance its technological capabilities and market presence[134].

Financial Performance - Net profit attributable to shareholders was CNY 388,817,537.70, representing a growth of 47.53% year-on-year[3]. - Operating revenue for the period was CNY 4,251,946,970.34, reflecting a year-on-year increase of 9.14%[3]. - Basic earnings per share rose to CNY 0.59, an increase of 47.50% compared to the same period last year[3]. - The company reported a weighted average return on equity of 8.24%, up by 1.52% year-on-year[3]. - The estimated cumulative net profit for the year is projected to be ¥46,500.65 million, representing a 30.00% increase compared to the previous year[18]. - The company reported a net profit of CNY 1,939,707,568.46, up from CNY 1,665,877,336.79, indicating an increase of approximately 16.4%[23]. - Net profit for Q3 2020 was CNY 172,131,236.61, representing a 63.4% increase from CNY 105,309,265.48 in Q3 2019[29]. - The company reported a total comprehensive income of CNY 172,506,462.70 for Q3 2020, up from CNY 104,762,225.72 in the previous year, a growth of 64.8%[30]. - The company reported a comprehensive income total of CNY 371,117,430.79, compared to CNY 238,917,911.80 in the same quarter last year, reflecting a growth of 55.1%[37]. Assets and Liabilities - Total assets reached CNY 7,232,506,900.35, an increase of 23.48% compared to the end of the previous year[3]. - The company's total assets reached CNY 8,930,499,864.93, up from CNY 7,232,506,900.35, representing a growth of approximately 23.5% year-over-year[21]. - Current liabilities rose to CNY 3,689,693,777.66, compared to CNY 2,409,045,007.35, marking an increase of about 53.2%[22]. - The company's total liabilities reached CNY 4,039,376,427.77, up from CNY 2,699,761,147.47, representing an increase of about 49.6%[22]. - Total liabilities increased to CNY 3,962,684,825.28 from CNY 2,838,913,942.11, reflecting a growth of 39.6%[28]. - The total amount of contract liabilities was CNY 34,504,919.30, reflecting a decrease in advance receipts[54]. Cash Flow - The net cash flow from operating activities surged by 1,599.66% to CNY 428,299,445.63[3]. - The net cash flow from operating activities surged by 1599.66% to ¥428,299,445.63 from ¥25,199,120.51, attributed to higher cash received from sales[12]. - The cash inflow from operating activities totaled ¥4,782,248,473.99, compared to ¥4,494,401,253.16 in the previous period, indicating robust operational performance[41]. - Total cash inflow from operating activities reached ¥4,641,319,650.29, up from ¥4,046,819,714.26 in the previous period, indicating a growth of approximately 14.7%[44]. - The net cash flow from investing activities was negative at -¥103,756,859.36, an improvement from -¥223,087,611.86 in the previous period[46]. Shareholder Information - The total number of shareholders at the end of the reporting period was 44,962[6]. - The largest shareholder, Fenghuo Technology Group Co., Ltd., holds 41.80% of the shares[6]. Research and Development - Research and development expenses increased by 39.63% to ¥94,920,954.25 from ¥67,982,036.25, reflecting higher investment in R&D[11]. - Research and development expenses for the quarter totaled CNY 140,743,569.88, up from CNY 133,634,182.30, marking a 5.4% increase year-over-year[28]. - Research and development expenses amounted to CNY 369,405,270.08, representing a 18.7% increase from CNY 311,241,976.40 in the previous year[35]. Financial Standards and Adjustments - The company has implemented new revenue and leasing standards starting from 2020, which required adjustments to the financial statements[47]. - The company reclassified advance receipts from sales and services to contract liabilities starting January 1, 2020[55].

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 2,558,456,609.96, representing a 3.22% increase compared to CNY 2,478,716,733.60 in the same period last year[10]. - The net profit attributable to shareholders was CNY 209,292,615.44, a significant increase of 45.42% from CNY 143,920,674.28 year-on-year[10]. - The net profit after deducting non-recurring gains and losses reached CNY 203,437,366.19, up 53.95% from CNY 132,143,901.22 in the previous year[10]. - The net cash flow from operating activities was CNY 94,546,269.96, a remarkable turnaround from a negative CNY 137,221,298.05 in the same period last year, marking a 168.90% improvement[10]. - Basic earnings per share increased to CNY 0.32, up 45.45% from CNY 0.22 in the previous year[10]. - The total operating revenue for the reporting period was CNY 2,558,456,609.96, representing a year-on-year increase of 3.22%[25]. - The company achieved a total revenue of CNY 2.56 billion in the first half of 2020, representing a year-on-year growth of 3%[21]. - The gross profit margin improved significantly, with operating profit reaching CNY 217 million, an increase of 48% year-on-year[21]. - The company reported a total comprehensive income of CNY 198,610,968.09 for the first half of 2020, up from CNY 134,155,686.08 in the previous year[100]. - The company reported a net profit of approximately 30,942.67 million yuan for the first nine months of 2020, representing a growth of 30% compared to the previous year[46]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 7,909,412,367.80, reflecting a 9.36% increase from CNY 7,232,506,900.35 at the end of the previous year[10]. - The total liabilities as of June 30, 2020, were CNY 4,158,200,000.00, compared to CNY 3,683,000,000.00 at the end of 2019, reflecting an increase of approximately 12.87%[92]. - The company's total equity reached CNY 4,700,786,001.43, up from CNY 4,532,745,752.88, indicating an increase of around 3.7%[94]. - The company's total liabilities amounted to ¥2,699,761,147.47 as of June 30, 2020[186]. - The company's total equity attributable to shareholders was ¥4,509,801,502.91 as of June 30, 2020[187]. Market and Industry Position - The company operates in the optical electronics sector, providing a comprehensive range of products from chips to subsystems, with a focus on telecommunications and data communication markets[16]. - The company ranked fourth in the industry as of 1Q2020, a decline attributed to the impact of COVID-19, but it has since recovered with record order volumes and production capacity[18]. - The demand for optical devices is shifting towards higher speeds, with the market for 100Gbps and above optical modules expected to account for over 50% of the global optical device market in the next five years[18]. - The overall industry concentration is decreasing, leading to intensified competition among midstream manufacturers[18]. - The company is focusing on the development of silicon photonic devices, which are becoming commercially viable and challenging existing market dynamics[18]. Research and Development - The company aims to enhance its talent pool and R&D investment to keep pace with the rapid development in 5G and data center technologies[2]. - The R&D team filed over 80 new patent applications and received 70 new patent authorizations, enhancing the company's technological capabilities[22]. - Research and development expenses amounted to CNY 228,661,700.20, an increase of 28.75% compared to the previous period[24]. - The company plans to invest 300 million RMB in new technology development over the next two years to enhance product offerings and operational efficiency[134]. Cash Flow and Financing - Cash flow from operating activities increased by 168.90% to CNY 94,546,269.96, primarily due to increased cash received from sales[24]. - The net cash flow from operating activities was CNY 94.55 million, a significant recovery from a net outflow of CNY -137.22 million in the first half of 2019[105]. - The company received CNY 200 million from financing activities, a decrease from CNY 840.25 million in the first half of 2019[106]. - The total amount of raised funds is CNY 795.72 million, with CNY 274.36 million cumulatively invested by the end of the reporting period[35]. Corporate Governance and Compliance - The company has committed to ensuring independence in operations, protecting minority shareholders' interests, and maintaining independent personnel, assets, business, finance, and institutions post-transaction completion[51]. - The company has strictly fulfilled its commitments regarding related party transactions, ensuring fair pricing and compliance with legal disclosure obligations[51]. - The company reported no major litigation or arbitration matters during the reporting period, indicating a stable legal environment[54]. - The company has no significant penalties or rectification issues during the reporting period, reflecting good compliance practices[55]. Social Responsibility - The company actively participated in pandemic prevention efforts, contributing nearly CNY 400,000 in materials for poverty alleviation and supporting local enterprises[22]. - The company reported a total of CNY 1.91 million in interest income from deposits and financial management for the first half of 2020[35]. - The company’s total investment in poverty alleviation projects was 38.4 million yuan, focusing on industrial development[68]. - The company plans to actively participate in poverty alleviation work in designated assistance areas as per the 2020 poverty alleviation work plan[69]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 53,588, with the largest shareholder, Fenghuo Technology Group Co., Ltd., holding 43.09% of shares, equating to 291,478,944 shares[76]. - The company approved the unlocking of 5,319,000 restricted shares for 477 eligible participants in the first unlocking period of the 2017 stock incentive plan[56]. - The company did not distribute cash dividends or bonus shares for the first half of the year[48]. - The company has not made any significant equity or non-equity investments during the reporting period[32][33]. Financial Instruments and Accounting Policies - Financial instruments are classified into financial assets, financial liabilities, and equity instruments based on the company's management model and cash flow characteristics[138]. - The company recognizes financial assets when the risks and rewards of ownership are transferred, and assesses whether to derecognize based on substantial transfer of risks[140]. - The company uses a combination of observable and unobservable inputs to determine the fair value of financial instruments, prioritizing observable inputs[141]. - The company recognizes revenue when the company fulfills its performance obligations in contracts, with revenue measured based on the relative standalone selling prices of the promised goods or services[173].

Financial Performance - The company's operating revenue for Q1 2020 was ¥733,738,740.69, a decrease of 39.81% compared to ¥1,219,084,111.81 in the same period last year[3] - The net profit attributable to shareholders was a loss of ¥5,513,189.65, representing a decline of 108.62% from a profit of ¥63,929,521.77 in the previous year[3] - The basic earnings per share for the period was -¥0.01, down 110.00% from ¥0.10 in the same period last year[3] - The company reported a net profit of CNY 1,660,364,147.15, down from CNY 1,665,877,336.79, a decrease of approximately 0.10%[21] - The net profit for the first quarter of 2020 was -49,349,639.84 CNY, a significant decrease compared to a net profit of 65,530,883.16 CNY in the same period last year[30] - Operating profit for the first quarter was -45,931,573.66 CNY, down from 67,239,395.67 CNY year-over-year[30] - Total profit for the quarter was -49,887,910.39 CNY, compared to a profit of 67,467,766.86 CNY in the previous year[30] Cash Flow - The net cash flow from operating activities increased significantly to ¥250,158,465.04, up 384.49% from ¥51,633,152.96 in the same period last year[3] - Cash flow from operating activities generated a net inflow of 250,158,465.04 CNY, an increase from 51,633,152.96 CNY in the same quarter last year[34] - Total cash inflow from operating activities was ¥1,303,319,820.31, down 11.8% from ¥1,477,127,032.26 in the previous year[35] - Cash outflow from operating activities decreased to ¥1,167,130,741.54 from ¥1,488,336,067.48, reflecting a reduction of 21.6%[35] - The net cash flow from investing activities was -¥477,404,958.31, worsening from -¥180,561,676.27 year-over-year[36] - Cash inflow from investing activities increased significantly to ¥541,707,419.73 from ¥160,555,210.08, marking a growth of 237.5%[36] - The net cash flow from financing activities was -¥13,078,764.00, a decline from a net inflow of ¥19,045,173.96 in the same quarter last year[36] Assets and Liabilities - The total assets at the end of the reporting period were ¥7,004,657,945.09, a decrease of 3.15% from ¥7,232,506,900.35 at the end of the previous year[3] - Total current assets decreased to ¥5,455,724,530.37 from ¥5,683,501,467.91, indicating a reduction in liquidity[18] - Current liabilities decreased from CNY 2,409,045,007.35 to CNY 2,172,205,387.04, a reduction of about 9.83%[20] - Total liabilities decreased from CNY 2,699,761,147.47 to CNY 2,472,669,745.59, a decrease of approximately 8.43%[20] - Owner's equity totalled CNY 4,531,988,199.50, slightly down from CNY 4,532,745,752.88, a decrease of about 0.02%[21] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 63,223[6] - The largest shareholder, Fenghuo Technology Group Co., Ltd., held 43.05% of the shares, totaling 291,478,944 shares[6] Government Support and Investments - The company received government subsidies amounting to ¥2,901,096.68 during the reporting period[4] - The company has engaged in entrusted wealth management with a total amount of ¥82,000,000, with no overdue amounts[14] Impairment and Expenses - The company reported a 219.06% increase in asset impairment losses to ¥10,453,099.87, mainly due to increased inventory impairment provisions[11] - Investment income recorded a loss of ¥2,307,046.98, a 100% decrease due to losses from investments in joint ventures[11] - The company incurred asset impairment losses of 10,500,000.00 CNY during the quarter[30] - The company reported a financial expense of CNY -12,665,033.60, a significant improvement from CNY 10,981,847.78 in the previous year[26] Research and Development - The company's R&D expenses increased to CNY 90,818,218.44, up 18% from CNY 76,968,676.97 in the previous year[26] - The company plans to continue focusing on R&D and market expansion despite the current financial challenges[28] Audit and Reporting - The company did not undergo an audit for the first quarter report[38] - The report was released by the Chairman, Yu Shaohua, on April 30, 2020[39]

Financial Performance - The company's operating revenue for 2019 was CNY 5,337,915,720.69, representing an increase of 8.30% compared to 2018 [13]. - The net profit attributable to shareholders for 2019 was CNY 357,697,304.57, which is a 7.51% increase from the previous year [13]. - The net profit after deducting non-recurring gains and losses was CNY 326,653,101.26, reflecting a growth of 16.44% year-over-year [13]. - The company reported a basic earnings per share of CNY 0.55, up 3.77% from CNY 0.53 in 2018 [13]. - The company achieved a total revenue of 5.338 billion yuan, a year-on-year increase of 8%, and a net profit of 328 million yuan, up 6% year-on-year [27]. - The company's total assets at the end of 2019 were CNY 7,232,506,900.35, a decrease of 18.92% from 2018 [14]. - The net assets attributable to shareholders increased by 32.88% to CNY 4,509,801,502.91 compared to the end of 2018 [14]. - The company reported a net cash flow from operating activities of CNY 266,116,786.01, a decrease of 6.11% from the previous year [13]. - The company reported a total comprehensive income of CNY 326,931,004.67 for 2019, compared to CNY 310,661,200.58 in 2018, an increase of 5.2% [169]. Research and Development - The company is committed to increasing R&D investment and talent development to keep pace with technological upgrades in optical communication systems [4]. - The company aims to leverage market insights to explore new application scenarios arising from the coupling of 5G and vertical industries, enhancing its product application areas [4]. - R&D expenses increased by 11.25% to ¥439,774,042.72, compared to ¥395,309,379.31 in 2018 [40]. - R&D investment increased by 17.36% to ¥537,880,492.46 in 2019, accounting for 10.08% of operating revenue [42]. - The company is focusing on the transition from 10Gb/s to 25Gb/s and higher speed platforms in the optical device industry [22]. - The company is developing photonic integrated circuit (PIC) technology as a future direction for optical devices, leveraging silicon photonics to reduce costs and improve efficiency [22]. - The company applied for 228 patents and was granted 203 patents during the reporting period, winning a silver award for Chinese patents [28]. Market Expansion and Strategy - The company will focus on deepening its domestic market presence while strategically expanding into overseas markets [3]. - The company aims to enhance its global market presence by focusing on traditional markets, emerging markets, and international market expansion [58]. - The company successfully opened a 400G sample window with key customers in North America, marking significant progress in overseas market expansion [27]. - The company is actively exploring potential mergers and acquisitions to enhance its competitive position in the market [124]. - The company plans to expand its market presence and invest in new technologies to enhance its product offerings [124]. - The company is expanding its market presence, targeting international markets with a goal to increase overseas sales by 40% in the upcoming year [130]. Risk Management - The company faces risks from competitive pressures due to mergers and acquisitions among leading international optical device firms and the entry of capital from outside the industry [4]. - The company emphasizes the importance of timely responses to political, legal, and trade environments in overseas business regions to mitigate risks [3]. - The company has a clear strategy for risk management, integrating comprehensive risk management into daily operations to mitigate potential risks [59]. Corporate Governance - The company has maintained strict compliance with commitments made regarding independent operations and protection of minority shareholders' interests [67]. - The board of directors consists of 11 members, including 4 independent directors, complying with legal requirements [138]. - The company has a transparent performance evaluation and incentive mechanism for senior management [140]. - The company is committed to maintaining high standards of corporate governance with a diverse board of directors [125]. Shareholder Information - The company plans to distribute a cash dividend of 1.7 RMB per 10 shares to all shareholders, based on a total of 676,395,918 shares [4]. - The cash dividend amount for 2019 was ¥114,987,306.06, representing 32.15% of the net profit attributable to ordinary shareholders [63]. - The total distributable profit for the year was ¥1,665,877,336.79, with the cash dividend amount accounting for 32.15% of the total profit distribution [65]. - The company has not sold any significant assets or equity during the reporting period [55]. Environmental and Social Responsibility - The company actively participated in poverty alleviation efforts, donating 170,000 yuan for agricultural water conservancy facility construction in Hubei Province [91]. - The company has established an emergency response plan for environmental incidents [95]. - The total emissions for COD were 4.46 tons/year and for ammonia nitrogen were 0.24 tons/year, with no exceedance of standards reported [94]. - The company has no significant environmental pollution incidents and maintains stable pollutant discharge [95]. Employee and Management Information - The total number of employees in the company is 4,424, with 2,838 in production, 163 in sales, 932 in technology, 41 in finance, and 450 in administration [134]. - The management team includes experienced professionals, with the CFO having a background in financial management and previous roles in major companies [126]. - The company has established a training management mechanism to support employee development and career growth [136]. - The total pre-tax compensation for senior management during the reporting period is 870,000 CNY [132]. Financial Compliance and Audit - The company has engaged Lixin Certified Public Accountants for auditing services, ensuring compliance and accuracy in financial reporting [11]. - The company's financial report received a standard unqualified audit opinion, affirming that it fairly reflects the financial status as of December 31, 2019 [153]. - The internal control verification report confirmed the effectiveness of internal controls related to financial reporting as of December 31, 2019 [150].