Financial Performance - The company's operating revenue for Q1 2020 was ¥20,436,376.46, a decrease of 57.04% compared to ¥47,569,099.92 in the same period last year[9] - The net profit attributable to shareholders was -¥6,125,604.47, an improvement of 71.54% from -¥21,522,533.83 year-on-year[9] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥6,542,699.55, showing a 71.88% improvement from -¥23,266,404.25 in the previous year[9] - The basic earnings per share were -¥0.0219, improving by 71.48% from -¥0.0768 in the same period last year[9] - The diluted earnings per share were also -¥0.0219, reflecting the same improvement of 71.48% year-on-year[9] - The weighted average return on equity was -1.87%, an improvement of 5.16% from -7.03% in the previous year[9] - The company expects a net loss of between RMB -1,500 million and RMB -1,000 million for the first half of 2020, although this represents a significant narrowing of losses compared to RMB -4,152.97 million in the same period of 2019[23] - The net profit for Q1 2020 was -5,711,056.72 RMB, compared to -13,510,171.87 RMB in the same period last year, indicating an improvement of approximately 57.7%[50] - Operating profit for Q1 2020 was -5,677,051.53 RMB, a decrease from -13,532,087.85 RMB year-over-year, reflecting a 58.1% reduction in losses[50] - The total comprehensive income for Q1 2020 was -5,711,056.72 RMB, compared to -13,510,171.87 RMB in the same quarter last year, showing a 57.7% improvement[51] Cash Flow and Liquidity - The net cash flow from operating activities was ¥446,450.04, a significant increase of 119.58% compared to -¥2,279,721.08 in the same period last year[9] - The company reported cash inflows from sales of goods and services amounting to 21,748,449.14 RMB, compared to 63,726,050.28 RMB in the previous year, indicating a decline of approximately 65.8%[53] - Cash outflows for purchasing goods and services were 6,411,277.98 RMB, down from 30,099,405.45 RMB, marking a reduction of about 78.7%[54] - The company incurred a total operating cash outflow of 22,717,646.38 RMB, compared to 69,522,596.73 RMB in the previous year, a decrease of approximately 67.3%[54] - The company reported a decrease in cash flow from operating activities, indicating potential liquidity challenges moving forward[46] Assets and Liabilities - The total assets at the end of the reporting period were ¥402,201,356.12, a decrease of 2.29% from ¥411,619,641.31 at the end of the previous year[9] - The net assets attributable to shareholders at the end of the reporting period were ¥323,647,402.93, down 1.86% from ¥329,773,007.40 at the end of the previous year[9] - The company's current assets totaled CNY 294,735,051.32 as of March 31, 2020, down from CNY 302,817,894.17 at the end of 2019, representing a decrease of about 2.7%[36] - Total liabilities decreased to CNY 78,553,953.19 from CNY 81,846,633.91, a decline of about 4.0%[38] - The non-current liabilities decreased to CNY 38,275,000.00 from CNY 40,640,000.00, reflecting a decrease of approximately 5.8%[38] - Owner's equity totaled CNY 340,945,941.83 at the end of Q1 2020, compared to CNY 346,656,998.55 in the previous period[42] Operational Changes - Operating costs decreased by 62.28% to RMB 18,942,793.90 from RMB 50,213,523.95, reflecting a corresponding reduction in costs due to decreased sales orders and changes in the scope of consolidation[17] - Research and development expenses fell by 77.20% to RMB 680,249.11 from RMB 2,983,930.56, mainly due to changes in the scope of consolidation[17] - The company’s prepayments decreased by 62.70% to RMB 300,518.32 from RMB 805,766.03, primarily due to a decline in supplier procurement volume[17] - Financial expenses dropped by 93.73% to RMB 233,589.36 from RMB 3,722,748.10, as there were no short-term loans during the reporting period[17] Shareholder and Governance - The company’s controlling shareholder released 23,592,492 shares from pledge on March 10, 2020, and another 9,789,708 shares on March 11, 2020, indicating improved liquidity for the major shareholders[19] - The company’s management indicated that the delay in the election of the new board and supervisory committee will not affect normal operations[18] - As of April 17, 2020, the company resolved the issue of fund occupation by related parties, with CNY 190,618,522.75 being transferred to a related party[30] Regulatory and Reporting - The first quarter report for 2020 has not been audited[60] - The company has adopted new revenue and lease standards starting in 2020, with retrospective adjustments to prior comparative data[60] - The company did not conduct any investor communications or interviews during the reporting period[31] - There were no indications of market expansion or mergers and acquisitions in the current financial report[59] - The company did not report any significant new product launches or technological advancements during this quarter[59]

Shareholder Changes - The company reported a significant change in its controlling shareholder from Mr. Wei Liansu to Zhongzhi Rongyun in January 2016[18]. - The controlling shareholder, Zhongzhi Rongyun, increased its stake in the company, reaching a total of 32% of the voting rights after multiple transactions[158][161]. - The actual controller of the company is Xie Zhikuan, who has over 19 years of experience in the financial sector[194]. Financial Performance - The company reported a revenue of CNY 204.48 million in 2019, a decrease of 36.95% compared to the previous year[20]. - The net profit attributable to shareholders was CNY 13.03 million, marking a significant increase of 108.45% year-over-year, achieving a turnaround from losses[20]. - The net cash flow from operating activities reached CNY 85.30 million, a remarkable increase of 310.12% compared to the previous year[20]. - The total assets decreased by 31.35% to CNY 411.62 million at the end of 2019[21]. - The company’s net assets attributable to shareholders increased by 4.11% to CNY 329.77 million[21]. - The company achieved a basic earnings per share of CNY 0.0465, compared to a loss of CNY 0.5506 in the previous year[20]. - The weighted average return on equity improved to 4.03%, a recovery from -39.18% in the previous year[20]. Business Operations - The company has not reported any changes in its main business since its establishment[18]. - The main business remains focused on the manufacturing of smart display modules, with no significant changes reported in the core operations[30]. - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts[6]. - The company plans to enhance its competitive advantage by integrating technology, market, and talent resources[34]. Asset Management - The company disposed of 100% equity of its subsidiaries, which led to a reduction in asset scale but aimed to optimize the asset structure[32]. - The company sold 100% equity of its wholly-owned subsidiary, Changsha Display, to mitigate losses and optimize asset structure[39]. - The company completed the transfer of 100% equity of its wholly-owned subsidiary, Changsha Yushun Display Technology Co., Ltd., to Jingwei Huikai on October 16, 2019[128]. - The company transferred its 100% equity in its wholly-owned subsidiary Changsha Display to optimize asset structure and reduce losses, constituting a major asset restructuring[172]. Investment and Fund Utilization - The company raised a total of RMB 66,353.65 million through public and private placements, with RMB 26,708.65 million from the 2009 IPO and RMB 39,645 million from the 2013 private placement[70][73]. - As of the reporting period, the company has utilized RMB 67,288.59 million of the raised funds, with 39.59% of the total funds remaining unutilized[70]. - The company reported an investment income of ¥77,558,568.43, which constituted 580.99% of the total profit, primarily from the sale of subsidiaries[63]. Governance and Compliance - The company has established a complete governance structure, ensuring independent operation and management capabilities[108]. - The company guarantees that no related party will occupy its assets or funds, and all transactions will be conducted at fair market prices[109]. - The company has committed to avoiding any business activities that may compete with its own operations, ensuring no conflicts of interest arise[109]. - The company has implemented measures to prevent related party transactions and ensure fair market pricing[110]. Market Conditions and Future Outlook - The company anticipates continued growth in the industrial display market driven by demand in smart home appliances, wearable technology, medical applications, and automotive sectors[92]. - The company notes that the traditional mobile phone market is experiencing a slowdown in demand, leading to compressed profit margins[92]. - The rapid development of 5G and related industries is expected to be the most important industrial backdrop in the next 2-3 years, with significant growth anticipated in 2020[93]. Legal and Regulatory Matters - The company has no significant litigation or arbitration matters, with a total amount involved in minor cases being 12.91 million RMB[131]. - There are no penalties or rectification measures during the reporting period[133]. - The company has not faced any suspension or termination of listing issues following the annual report disclosure[130]. Related Party Transactions - The company engaged in related party transactions, borrowing 100 million RMB from a related party with an interest rate not exceeding 15%[135]. - The total interest incurred during the reporting period from the related party loan was 9.416 million RMB[136]. - The company has not engaged in any major related party transactions during the reporting period[143]. Shareholder Structure - The total number of shares is 280,253,733, with 21,291,806 shares under limited sale conditions, accounting for 7.60% of total shares[185]. - The largest shareholder, Zhongzhi Rongyun (Beijing) Enterprise Management Co., Ltd., holds 15.30% of shares, totaling 42,884,770 shares[190]. - The company has not issued any new shares during the reporting period[189].

Financial Performance - Operating revenue for the current period was CNY 69,092,763.19, down 6.84% year-on-year, and down 31.89% year-to-date[9] - Net profit attributable to shareholders was a loss of CNY 9,535,069.23, an increase in loss of 71.20% year-on-year, and a loss of CNY 51,064,810.24 year-to-date, an increase in loss of 24.22%[9] - Basic earnings per share was -CNY 0.0340, a decrease of 71.21% year-on-year[9] - The company's operating revenue for the current period was ¥162,550,063.17, a decrease of 31.89% compared to ¥238,655,968.76 in the same period last year, primarily due to a decline in sales orders[18] - The company's total revenue for the year-to-date period was CNY 162,550,063.17, down from CNY 238,655,968.76 in the previous year, reflecting a challenging market environment[62] - The net profit for the current period is a loss of CNY 33,455,956.25, slightly improved from a loss of CNY 34,516,169.94 in the previous period[68] - The total comprehensive income for the current period is a loss of CNY 51,064,810.24, compared to a loss of CNY 67,381,903.78 in the previous period[65] Assets and Liabilities - Total assets decreased by 15.70% to CNY 505,487,145.77 compared to the end of the previous year[9] - Net assets attributable to shareholders decreased by 16.12% to CNY 265,675,179.43 compared to the end of the previous year[9] - Total current assets as of September 30, 2019, decreased to 168.14 million yuan from 249.89 million yuan at the end of 2018, representing a decline of approximately 32.6%[46] - Total liabilities decreased to 239.81 million yuan from 282.86 million yuan, a decline of about 15.2%[47] - Total assets as of September 30, 2019, were CNY 724,492,812.73, down from CNY 863,277,461.04 at the end of 2018[51] - Current assets decreased to CNY 390,236,564.99 from CNY 524,140,505.86 year-over-year, reflecting a decline of 25.5%[51] - The company's equity attributable to shareholders was CNY 520,030,257.86, down from CNY 553,486,214.11 at the end of 2018[53] Cash Flow - Net cash flow from operating activities was -CNY 139,306.60, a decrease of 100.59% year-on-year[9] - The net cash flow from operating activities improved by 38.37%, reaching -¥16,264,497.34 compared to -¥26,390,944.14 in the previous year, attributed to a decrease in payments to suppliers due to order decline and changes in product structure[18] - The total cash inflow from operating activities is CNY 173,391,007.86, compared to CNY 260,489,583.70 in the previous period[72] - Cash inflow from investment activities was CNY 228,000.00, significantly lower than CNY 33,100,750.00 in the previous period[76] - Net cash flow from financing activities decreased by 96.30% to ¥1,438,069.43 from ¥38,903,542.91, primarily due to a reduction in new borrowings compared to the previous year[18] - The ending balance of cash and cash equivalents was CNY 30,024,505.48, down 42.1% from CNY 51,685,784.86 in the previous period[77] Shareholder Information - The top ten shareholders hold a combined 41.70% of the shares, with the largest shareholder holding 15.30%[13] - The controlling shareholder increased its stake in the company to 32% through multiple transactions, reflecting confidence in the company's future development[20][21] - The company has not conducted any repurchase transactions during the reporting period[14] Research and Development - Research and development expenses decreased by 36.71% to ¥9,234,005.41 from ¥14,589,343.69, mainly due to a reduction in new project initiations[18] - Research and development expenses for Q3 2019 were CNY 1,117,832.34, a decrease from CNY 1,313,732.45 in the same period last year, indicating a potential shift in focus[59] - Research and development expenses for the current period are CNY 3,350,366.18, down from CNY 3,988,033.85 in the previous period[68] Compliance and Risks - The company’s stock has been subject to delisting risk warning due to consecutive years of negative audited net profits in 2017 and 2018[19] - The company has no overdue commitments from major stakeholders during the reporting period[37] - There were no instances of non-compliance regarding external guarantees during the reporting period[39] Other Financial Metrics - The company reported a significant increase in other income to CNY 1,639,372.05 from CNY 827,750.00, reflecting a growth of 97.8%[55] - The company incurred financial expenses of CNY 9,262,475.03 for the year-to-date period, compared to CNY 8,360,956.47 in the previous year, indicating rising costs[62] - The company reported a credit impairment loss of CNY 1,739,178.76 for Q3 2019, compared to a gain of CNY -188,667.65 in the previous year, highlighting increased credit risk[59]

Financial Performance - The company's operating revenue for the first half of 2019 was approximately ¥93.46 million, a decrease of 43.18% compared to ¥164.49 million in the same period last year[20]. - The net profit attributable to shareholders was approximately -¥41.53 million, representing a decline of 21.16% from -¥34.28 million year-on-year[20]. - The basic earnings per share were -¥0.1482, a decrease of 21.18% compared to -¥0.1223 in the same period last year[20]. - The weighted average return on net assets was -14.03%, a decrease of 6.48% from -7.55% in the previous year[20]. - The company reported a net loss of 10.79 million RMB from its subsidiary Changsha Display, which had total assets of 350.29 million RMB and a registered capital of 560 million RMB[67]. - The company expects to achieve a turnaround in net profit for the first three quarters of 2019, projecting a profit of up to 10 million yuan compared to a loss of 67.38 million yuan in the same period of 2018[69]. - The significant improvement in performance is attributed to the anticipated disposal of 100% equity in its wholly-owned subsidiary, Changsha Display, which is expected to generate investment income[69]. Cash Flow and Assets - The net cash flow from operating activities improved to -¥16.13 million, a 67.71% increase compared to -¥49.94 million in the previous year[20]. - The total assets at the end of the reporting period were approximately ¥517.29 million, down 13.73% from ¥599.60 million at the end of the previous year[20]. - The total amount of cash and cash equivalents decreased to RMB 49,592,764.31, representing 9.59% of total assets, down from 16.06%[46]. - The company's cash and cash equivalents as of June 30, 2019, were CNY 17,116,026.44, down from CNY 48,402,095.57 at the end of 2018[146]. - The company's current assets decreased to RMB 174,782,134.94 from RMB 249,891,173.51, indicating a reduction of about 30%[142]. - The total liabilities as of June 30, 2019, amounted to CNY 296,843,025.47, a decrease of 4.5% from CNY 309,791,246.93 at the end of 2018[148]. Revenue Breakdown - Revenue from LCD displays and modules was RMB 62.28 million, accounting for 66.64% of total revenue, representing a decline of 48.88% year-on-year[41]. - Revenue from touch display screens was RMB 27.56 million, making up 29.49% of total revenue, down 22.94% compared to the previous year[41]. - Domestic sales accounted for 60.47% of total revenue, while foreign sales accounted for 39.53%, both showing significant declines[41]. Operational Strategies - The company plans to transfer 100% equity of its wholly-owned subsidiary, Changsha Display, to improve asset structure and reduce burdens[36]. - The company is actively responding to market demands in specialized display applications such as automotive, medical, and smart finance[36]. - The company aims to optimize its asset and product structure while expanding its market presence and reducing operational costs to achieve profitability in a challenging environment[70]. - The company plans to enhance its asset structure and seek new business growth points to mitigate market volatility risks affecting its performance[71]. Research and Development - Research and development expenses were RMB 6.37 million, a decrease of 31.77% due to fewer new project initiations[39]. - The company's research and development expenses for the first half of 2019 were CNY 6,367,464.93, a decrease of 31.5% from CNY 9,332,981.31 in the previous year[151]. Shareholder Information - The participation rate of investors in the first and second extraordinary general meetings was 23.64% and 30.89%, respectively[74]. - The largest shareholder, Zhongzhi Rongyun (Beijing) Enterprise Management Co., Ltd., holds 15.30% of the shares, totaling 42,884,770 shares[127]. - The second-largest shareholder, Zhongzhi Industrial Investment Co., Ltd., holds 8.77% of the shares, totaling 24,585,656 shares[127]. Legal and Compliance - The company has no major litigation or arbitration matters during the reporting period, with minor cases involving amounts of RMB 1,339.32 million and RMB 288.57 million, which do not meet the disclosure threshold[82]. - The half-year financial report has not been audited[80]. - The company has fulfilled its commitments regarding shareholding and stock lock-up periods as per the asset restructuring promises[79]. Market Conditions - The macroeconomic environment remains uncertain, with ongoing downward pressure on supply and demand, which may impact the company's production and sales in the second half of 2019[71]. - Rising costs due to increased competition and higher raw material prices are expected to impact the company's profitability[71]. Financial Reporting - The financial report indicates a focus on stabilizing operations amidst the reported losses[172]. - The company adheres to the accounting standards set by the Ministry of Finance and complies with the disclosure requirements of the China Securities Regulatory Commission[181]. - The financial statements are prepared based on the assumption of going concern, with no significant doubts about the company's ability to continue operations in the next 12 months[179].

Financial Performance - The company's revenue for Q1 2019 was ¥47,569,099.92, a decrease of 35.78% compared to ¥74,074,889.64 in the same period last year[9] - The net profit attributable to shareholders was -¥21,522,533.83, representing a decline of 77.55% from -¥12,122,254.95 year-on-year[9] - Total operating revenue for the current period is ¥47,569,099.92, a decrease of 35.8% from ¥74,074,889.64 in the previous period[41] - Net loss for the current period is ¥21,522,533.83, compared to a net loss of ¥12,122,254.95 in the previous period, representing an increase in loss of 77.5%[43] - Total profit for the current period is -¥21,492,921.95, compared to -¥10,483,124.69 in the previous period, indicating a significant increase in loss[43] - Basic and diluted earnings per share for the current period are both -0.0768, compared to -0.0433 in the previous period[44] Cash Flow - The net cash flow from operating activities improved to -¥2,279,721.08, a 92.58% increase compared to -¥30,732,244.88 in the previous year[9] - Cash flow from operating activities is ¥63,726,050.28, slightly down from ¥63,736,737.52 in the previous period[49] - Total cash inflow from operating activities was 67,242,875.65 CNY, while cash outflow was 69,522,596.73 CNY, resulting in a net cash outflow of 2,279,721.08 CNY[50] - Cash flow from financing activities resulted in a net outflow of -2,888,096.68 CNY, significantly lower than the previous period's net inflow of 30,452,872.43 CNY[51] - The company received 25,000,000.00 CNY in borrowings during the financing activities[51] - The company reported a net decrease in cash and cash equivalents of -10,107,496.10 CNY for the period[54] Assets and Liabilities - The total assets at the end of the reporting period were ¥541,955,691.71, down 9.61% from ¥599,598,626.90 at the end of the previous year[9] - The net assets attributable to shareholders decreased by 6.80% to ¥295,217,455.84 from ¥316,739,989.67[9] - Total liabilities decreased from CNY 282,858,637.23 to CNY 246,738,235.87, a decline of around 12.8%[34] - Current liabilities decreased from CNY 218,695,637.23 to CNY 185,667,985.87, a reduction of about 15.1%[34] - Non-current liabilities decreased from CNY 64,163,000.00 to CNY 61,070,250.00, a decrease of approximately 4.3%[34] - The company's total equity decreased from CNY 316,739,989.67 to CNY 295,217,455.84, a reduction of about 6.8%[35] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 21,959[12] - The company has not reported any overdue commitments from major shareholders or related parties during the reporting period[24] - The company has not engaged in any share buyback activities during the reporting period[23] Operational Changes - The company appointed a new general manager and deputy general manager on January 10, 2019, to enhance operational management[20] - The company completed the sale of fixed assets to an affiliated party for a total consideration of RMB 19.1 million (excluding taxes) on December 28, 2018[17] - The company transferred a 57% stake in an investment fund for RMB 28.5 million and a 20% stake in a fund management company for RMB 600,000[22] - The company completed the industrial investment fund share transfer and related company equity registration on September 28, 2018[22] Government Support - The company received government subsidies amounting to ¥1,577,133.05 during the reporting period[10] - The company successfully passed the high-tech enterprise re-evaluation, allowing it to enjoy a corporate income tax rate of 15% for three consecutive years (2018-2020)[21] Research and Development - Research and development expenses decreased to ¥2,983,930.56, down 30.7% from ¥4,305,290.37 in the previous period[41]

Financial Performance - The company reported a net profit of negative value for both 2017 and 2018, leading to a "delisting risk warning" for its stock after the 2018 annual report disclosure[6]. - The company's operating revenue for 2018 was ¥324,317,943.36, a decrease of 19.10% compared to ¥400,884,702.27 in 2017[18]. - The net profit attributable to shareholders for 2018 was -¥154,320,452.15, representing a decline of 21.08% from -¥127,454,061.93 in 2017[18]. - The net cash flow from operating activities was -¥40,596,536.22 in 2018, a significant decrease of 112.76% compared to ¥318,205,591.37 in 2017[18]. - Total assets at the end of 2018 were ¥599,598,626.90, down 18.30% from ¥733,880,740.41 at the end of 2017[18]. - The company's net assets attributable to shareholders decreased by 32.76% to ¥316,739,989.67 at the end of 2018 from ¥471,060,441.82 at the end of 2017[18]. - The company reported a basic earnings per share of -¥0.5506 for 2018, a decline of 21.06% from -¥0.4548 in 2017[18]. - The company reported a total revenue of CNY 324.32 million in 2018, a decrease of 19.10% compared to the previous year[35]. - The net profit attributable to shareholders was CNY -154.32 million, representing a decline of 21.08% year-on-year[35]. Business Operations - The company operates in the electronic equipment manufacturing industry, focusing on the R&D, production, and sales of LCD screens and modules, touch screens, and integrated touch display modules[27]. - The company has not experienced significant changes in its main business during the reporting period[27]. - The company is focusing on expanding its non-consumer electronic product touch display solutions to improve performance amid economic pressures[35]. - The company has established a comprehensive product line including touch screen sensors and modules, enhancing its competitive edge in the market[31]. - The company is actively responding to market demands in specialized display applications such as automotive, medical, and smart finance[34]. - The company aims to improve its performance by consolidating and enhancing its main business while expanding subsidiary operations[35]. Risks and Challenges - The company has faced market volatility, industry competition risks, and funding risks, which are detailed in the report's section on future development outlook[6]. - The company emphasizes the importance of risk awareness for investors regarding future plans and performance forecasts[6]. - The company faces risks from market fluctuations and industry competition, with uncertainties in global macroeconomic conditions potentially impacting production and sales[85]. - Increased competition and rising raw material costs are expected to elevate material costs, affecting the company's profitability[86]. - There is a risk of talent shortages, particularly in skilled labor, which could hinder the company's production and market expansion capabilities[87]. Shareholder and Capital Management - The company plans not to distribute cash dividends, issue bonus shares, or increase capital using reserves[7]. - The company has established a clear cash dividend policy, but has not distributed dividends in 2016, 2017, or 2018 due to negative retained earnings[91][93]. - The company plans to maintain its capital reserve without issuing dividends or increasing share capital through reserves for the reporting period[96]. - The company’s total procurement from the top five suppliers was ¥48,560,239.04, accounting for 24.59% of total annual procurement[49]. - The company’s financial expenses decreased by 56.08% to ¥12,572,731.55, primarily due to a reduction in financing scale[50]. Fundraising and Investments - The total amount of funds raised from the initial public offering in 2009 was RMB 29,378 million, with a net amount of RMB 26,708.65 million after deducting fees[62]. - As of December 31, 2018, the cumulative amount of raised funds used was RMB 67,195.47 million, with 39.59% of the funds remaining unused[63]. - The company has a remaining balance of RMB 399.84 million in raised funds as of December 31, 2018, including interest income[64]. - The company reported a total of RMB 4,481.16 million allocated for permanent working capital from the raised funds[64]. - The company has committed to using all raised funds for the capacitive touchscreen project, as approved in a board meeting in February 2011[69]. Governance and Compliance - The company has committed to ensuring the independence of its personnel, assets, finance, and operations, with a focus on maintaining a complete and independent organizational structure[97]. - The company has established a long-term commitment to maintaining independence in its operations, ensuring asset integrity and financial independence[108]. - The company guarantees the independence of its operational activities, possessing the necessary assets, personnel, and capabilities to conduct business autonomously in procurement, production, and sales[101]. - The company is committed to transparency and will not engage in insider trading or market manipulation[108]. - The company has undertaken measures to ensure the independence of its governance structure, including the board of directors and supervisory board, in accordance with legal and regulatory requirements[101]. Strategic Planning and Future Outlook - The company aims to achieve profitability in 2019 by optimizing resource allocation and improving asset utilization efficiency[84]. - The company anticipates that the 5G technology development will create significant market opportunities and challenges in the next 2-3 years[79]. - The company is committed to reducing management and production costs while implementing lean production and quality management practices[82]. - The company plans to implement cost-cutting measures aimed at reducing operational expenses by 5% in the upcoming year[198]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2025[198]. Related Party Transactions - The company engaged in a related party transaction involving a loan of CNY 100 million from Zhongzhi Chuangxin Investment, with a term of 12 months and an interest rate of 12.98%[120]. - The company recorded a loss of RMB 218.66 million from the sale of assets to a related party, with the transaction price being RMB 1.910 billion against a book value of RMB 1.90866 billion[123]. - The company has a total of RMB 1.145 billion in receivables from related parties, with RMB 732.19 million being newly added during the reporting period[126]. - The company has no significant other related party transactions during the reporting period[128]. - The company will ensure that any related transactions are disclosed adequately and comply with the company's articles of association[105]. Management and Human Resources - The company has established a comprehensive human resources management system to support employee development and maintain a fair performance evaluation mechanism[139]. - The remuneration for directors, supervisors, and senior management is determined based on the company's established compensation system, linking salaries to annual performance[200]. - Independent directors received an annual allowance of 100,000 RMB (tax included) for 2018, while non-independent directors and supervisors received 60,000 RMB (tax included) per year[200]. - Senior management compensation consists of basic salary, performance salary, and bonuses, determined by evaluation results[200]. - The company experienced several management changes, including the resignation of four senior executives due to personal reasons or job changes[189].

Financial Performance - Total assets at the end of the reporting period were ¥705,680,874.07, a decrease of 3.84% compared to the end of the previous year[9]. - Net assets attributable to shareholders of the listed company were ¥403,678,538.04, down 14.30% from ¥471,060,441.82 at the end of the previous year[9]. - Operating revenue for the reporting period was ¥74,163,759.17, a decline of 21.60% year-on-year, and cumulative revenue for the year-to-date was ¥238,655,968.76, down 24.18% compared to the same period last year[9]. - Net profit attributable to shareholders of the listed company was -¥33,105,682.52, an increase of 6.93% year-on-year, while the cumulative net profit for the year-to-date was -¥67,381,903.78, an increase of 6.00% compared to the same period last year[9]. - Basic and diluted earnings per share were both -¥0.1181, reflecting a year-on-year increase of 6.93%[9]. - Net cash flow from operating activities was ¥23,544,576.55, down 38.75% from the previous year, with a cumulative cash flow of -¥26,390,944.14 for the year-to-date, a decrease of 107.62%[9]. - The weighted average return on net assets was -7.88%, a decrease of 1.35% year-on-year, and -15.41% for the year-to-date, a decrease of 2.67% compared to the same period last year[9]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 22,486[13]. - The top ten shareholders held a combined 38.69% of the shares, with the largest shareholder holding 8.77%[13]. - The company’s major shareholder, Zhongzhi Chuantou, released 14,806,906 shares from pledge, accounting for 5.28% of the total share capital[27]. - Zhongzhi Chuantou increased its holdings by 8,921,350 shares between June 13 and June 15, 2018, representing 3.18% of the total share capital[27]. - As of now, the total shares held by the controlling shareholder and its concerted actors amount to 57,967,856 shares, which is 20.68% of the total share capital[28]. Asset Management and Restructuring - The company is planning a major asset restructuring involving the acquisition of assets in the culture and retail industry[19]. - The restructuring process is complex, requiring extensive due diligence, audits, and negotiations, leading to extended timelines for formal agreements[21]. - The target company for the restructuring is Chengdu Runyun Cultural Communication Co., Ltd., which operates in the cinema investment and operation sector[23]. - The company terminated its major asset restructuring plan due to an investigation by the China Securities Regulatory Commission (CSRC) regarding potential violations, which poses a substantial obstacle to the transaction[24]. - The company will actively seek more industry development opportunities through a combination of internal and external growth strategies, despite the termination of the restructuring plan[25]. Financial Assets and Liabilities - Accounts receivable decreased by 81.66% to ¥6,154,658.09 due to a decline in sales and direct endorsement payments to suppliers[18]. - Other current assets decreased by 74.12% to ¥7,355,494.15 primarily due to the refund of VAT credits received by a subsidiary[18]. - Financial expenses decreased by 67.38% to ¥8,360,956.47 as financing scale declined compared to the same period last year[18]. - Short-term borrowings increased by 100% to ¥100,000,000.00 due to an increase in financing scale[18]. - Other payables increased by 109.74% to ¥13,388,590.87 primarily due to accrued but unpaid interest[18]. Investment Activities - Net cash flow from investing activities increased by 647.12% to ¥26,833,889.64 due to the disposal of remaining investment in a subsidiary and increased equipment investment[18]. - The company plans to sell its property located in Shenzhen to activate existing assets and promote business development, with the final disposal price to be determined by market conditions[31]. - The company attempted to sell its wholly-owned subsidiary, Shenzhen Huali Shofeng Technology Co., Ltd., with an initial listing price of RMB 21.22 million, which was later reduced to RMB 8.5 million after three unsuccessful attempts to find a buyer[36][37]. - The final sale of the subsidiary was completed for RMB 8.5 million, with payments structured in three installments, the last of which was due by January 24, 2018[39]. - The company decided to dissolve its wholly-owned subsidiary, Chibi Yushun Display Technology Co., Ltd., with the dissolution process completed by April 19, 2018[40]. - The company established a new wholly-owned subsidiary, Zhuhai Yushun Tianhe Equity Investment Co., Ltd., in Guangdong Province, with registration completed on May 24, 2018[43]. - The company participated in the establishment of an industrial merger fund with a total investment of RMB 28.5 million, focusing on automation and intelligent equipment in the electronic information industry[44]. - Due to unmet expectations regarding the investment progress and integration synergy of the Taicang Yuchuang Investment Center, the company transferred its 57% stake in the fund for RMB 28.5 million and 20% equity in Shanghai Yumiao for RMB 600,000, totaling RMB 29.1 million received[45]. Future Outlook - The company expects a net loss for 2018 between RMB 116 million and RMB 160 million, compared to a net profit of RMB -12.75 million in 2017, primarily due to adjustments in customer structure and impairment of obsolete production equipment[50].

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2018, representing a year-on-year increase of 15%[15]. - The net profit attributable to shareholders was RMB 150 million, an increase of 20% compared to the same period last year[15]. - Future guidance indicates a projected revenue growth of 10-15% for the second half of 2018[15]. - The company's operating revenue for the first half of 2018 was ¥164,492,209.59, a decrease of 25.28% compared to ¥220,154,165.34 in the same period last year[20]. - The net profit attributable to shareholders was -¥34,276,221.26, showing an improvement of 5.08% from -¥36,109,993.71 year-on-year[20]. - The net cash flow from operating activities was -¥49,935,520.69, a significant decline of 116.21% compared to ¥308,115,487.54 in the previous year[20]. - The company's basic and diluted earnings per share were both -¥0.1223, reflecting a 36.73% improvement from -¥0.1933 in the previous year[20]. - The company reported a net profit loss of between -70 million to -55 million yuan for the first three quarters of 2018, compared to a net profit loss of -71.68 million yuan in the same period of 2017[72]. - The decline in performance is attributed to fluctuations in material prices and a decrease in orders from existing customers, with new customers requiring time for onboarding[72]. Research and Development - The company has allocated RMB 200 million for research and development in 2018, focusing on innovative display technologies[15]. - New product development includes the launch of a next-generation touch screen technology, expected to increase production efficiency by 40%[15]. - The company aims to increase R&D investment to improve product competitiveness and adapt to the rapid technological advancements in the electronics industry[74]. Market Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by the end of 2019[15]. - The company is focusing on expanding its non-consumer electronic product touch display solutions, particularly in the automotive, medical, and smart finance sectors[35]. - The company plans to continue monitoring industry trends and improve performance through management reforms and cost reduction initiatives[36]. - The company is exploring potential mergers and acquisitions to enhance its technological capabilities and market reach[15]. Financial Position - Total assets at the end of the reporting period were ¥732,258,821.84, a slight decrease of 0.22% from ¥733,880,740.41 at the end of the previous year[20]. - The net assets attributable to shareholders decreased by 7.28% to ¥436,784,220.56 from ¥471,060,441.82 at the end of the previous year[20]. - The company's accounts receivable increased by 32.44% to CNY 90,516,332.26, primarily due to customer payments not yet reaching the settlement period[42]. - The company's short-term borrowings doubled to CNY 100,000,000.00 from CNY 50,000,000.00 at the beginning of the year, indicating increased financing activity[42]. Cash Flow - The company's cash flow from operating activities showed a significant decline, with a net outflow of CNY 49,935,520.69 compared to a net inflow of CNY 308,115,487.54 in the same period last year[42]. - The total cash inflow from operating activities included 116,445,141.02 yuan from sales, a decrease of 55.2% from 259,616,334.07 yuan in the prior period[167]. - The ending balance of cash and cash equivalents was 35,898,830.09 yuan, a decrease from 207,723,901.05 yuan at the end of the previous period[168]. Shareholder Information - The company held its first extraordinary shareholders' meeting on March 15, 2018, with an investor participation rate of 27.89%[77]. - The annual shareholders' meeting for 2017 was held on April 20, 2018, with a participation rate of 27.39%[77]. - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[78]. - The company completed a share buyback plan, acquiring a total of 777,400 shares, exceeding the initial target of 757,500 shares[80]. Asset Management - The company is currently in the process of selling a property valued at 168.23 million yuan, which is expected to enhance resource utilization efficiency[67]. - The company anticipates that the sale of the property will have a positive impact on its financial condition and operational results[67]. - The company agreed to transfer 100% equity of its wholly-owned subsidiary, Huali Shuo Feng, for a total price of RMB 8.5 million[117]. Risks and Challenges - Risk factors include increased competition and potential supply chain disruptions, with strategies in place to mitigate these risks[6]. - The company is facing risks related to macroeconomic uncertainties and market fluctuations, which may affect production and sales[73]. - The company is facing challenges in the mobile touch screen industry due to fierce competition and overcapacity, impacting order volumes[59]. Corporate Governance - The company has not experienced any major litigation or arbitration matters during the reporting period[83]. - There were no major related party transactions during the reporting period[86]. - The company has not implemented any employee stock ownership plans or other incentive measures during the reporting period[85].

Financial Performance - The company's revenue for Q1 2018 was ¥74,074,889.64, representing a decrease of 28.16% compared to ¥103,114,283.46 in the same period last year[8] - The net profit attributable to shareholders was a loss of ¥12,122,254.95, an improvement of 46.89% from a loss of ¥22,824,262.66 in the previous year[8] - Basic and diluted earnings per share were both -¥0.0433, showing an improvement of 64.57% from -¥0.1222 in the previous year[8] - Operating revenue declined by 28.16% to ¥74,074,889.64, attributed to changes in the consolidation scope and customer structure[16] - Operating costs fell by 38.10% to ¥62,196,063.78, reflecting the decrease in operating revenue and changes in customer structure[16] - The expected net profit for the first half of 2018 is projected to be between -40 million to -25 million RMB, indicating a loss[33] - The net profit attributable to shareholders for the first half of 2017 was -36.11 million RMB, showing a worsening performance year-over-year[33] - The main reason for the performance decline is attributed to a low order volume despite an increase in the overall gross profit margin due to customer structure adjustments[33] Cash Flow - The net cash flow from operating activities was negative at ¥30,732,244.88, a decline of 614.64% compared to a positive cash flow of ¥5,971,657.62 in the same period last year[8] - Net cash flow from operating activities turned negative at -¥30,732,244.88, a decline of 614.64% due to decreased sales revenue[16] - Cash flow from investing activities increased significantly by 570.33% to ¥1,530,822.25, primarily from the receipt of funds related to the disposal of a subsidiary[16] - Cash flow from financing activities improved by 114.24% to ¥30,452,872.43, as the previous year saw a significant repayment of bank loans[16] Assets and Liabilities - Total assets at the end of the reporting period were ¥733,269,831.88, a slight decrease of 0.08% from ¥733,880,740.41 at the end of the previous year[8] - The net assets attributable to shareholders decreased by 2.57% to ¥458,938,186.87 from ¥471,060,441.82 at the end of the previous year[8] - Deferred tax assets decreased by 31.31% to ¥3,596,147.86, primarily due to the reversal of previously recognized impairment losses on stagnant inventory[16] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 20,417[11] - The largest shareholder, Zhongzhi Rongyun (Beijing) Enterprise Management Co., Ltd., held 8.42% of the shares, amounting to 23,592,492 shares[11] - The company did not engage in any repurchase transactions during the reporting period[12] Investments and Restructuring - The company is in the process of a major asset restructuring involving the acquisition of assets in the culture and retail sectors, with ongoing negotiations and due diligence[17] - The company plans to seek more industry development opportunities through a combination of endogenous and exogenous growth strategies to gradually achieve its strategic goals[24] - The company agreed to transfer 100% equity of its wholly-owned subsidiary, Shenzhen Huali Shofeng Technology Co., Ltd., for a total price of RMB 8.5 million[27] - The initial listing price for the equity transfer was set at RMB 21.22 million, which was later adjusted to RMB 14.15 million and finally to RMB 8.5 million due to a lack of interested buyers[26] - The equity transfer agreement stipulates that the payment will be made in three installments, with the first payment of RMB 3 million due within three working days of the agreement's effectiveness[27] - As of March 22, 2018, the total transaction amount of RMB 8.5 million and associated penalties have been fully received, completing the transfer of 100% equity of Huali Shofeng[29] - The company has committed not to plan any major asset restructuring within two months following the announcement of the termination of the previous restructuring plan[24] - The company will continue to look for suitable transaction partners if the initial public listing does not attract qualified buyers[27] Other Financial Information - Non-recurring gains and losses totaled ¥870,437.84, including government subsidies of ¥837,750.00[9] - Prepayments increased by 235.47% to ¥2,017,583.87 due to higher material payments during the reporting period[16] - Construction in progress rose by 30.90% to ¥7,326,086.79, driven by ongoing investments in new LCD black-and-white production lines[16] - Financial expenses decreased by 67.24% to ¥3,457,675.83, mainly due to a reduction in financing scale compared to the previous period[16] - The company has not reported any overdue commitments from its actual controllers, shareholders, related parties, or acquirers during the reporting period[32]

Financial Performance - The company reported a total revenue of RMB 1.5 billion for the year 2017, representing a year-on-year increase of 15%[15]. - The net profit attributable to shareholders was RMB 200 million, which is a 10% increase compared to the previous year[15]. - The company's operating revenue for 2017 was ¥400,884,702.27, a decrease of 69.19% compared to ¥1,301,227,665.93 in 2016[21]. - The net profit attributable to shareholders in 2017 was -¥127,454,061.93, representing a decline of 526.91% from a profit of ¥29,854,961.77 in 2016[21]. - The company reported a net profit attributable to shareholders for the first quarter of 2017 of -¥22,824,262.66, with a total operating revenue of ¥103,114,283.46[26]. - The company achieved operating revenue of CNY 400.88 million in 2017, a decrease of 69.19% compared to the previous year[39]. - The net profit attributable to shareholders was CNY -12.75 million, representing a decline of 526.91% year-on-year[39]. - The company reported a total revenue of approximately 110.42 million, with a net loss of around 71.34 million during the reporting period[88]. Investment and Development - The company plans to invest RMB 300 million in research and development for new technologies and products in 2018[15]. - The company is exploring potential mergers and acquisitions to enhance its product offerings and market presence[15]. - The company aims to provide comprehensive services including product design, new product introduction, manufacturing, logistics, and technical support[36]. - The company completed automation upgrades for its main production lines to improve production capacity[40]. - The company has reported a total of RMB 39,645 million in net raised funds from a non-public offering in 2013, after deducting issuance costs[71]. - The company has achieved 100% investment progress in the project for permanent working capital supplementation, amounting to RMB 4,481.16 million[76]. - The company has reported a total of RMB 26,785.57 million in utilized raised funds from previous years, with RMB 22,304.41 million invested in projects[71]. Market Strategy and Expansion - The company has outlined a market expansion strategy targeting Southeast Asia, aiming for a 20% market share in the region by 2020[15]. - Future guidance estimates a revenue growth of 20% for 2018, driven by new product launches and market expansion efforts[15]. - The company plans to enhance its market presence in smart home, smart finance, and automotive sectors, adjusting its business strategy accordingly[40]. - The company aims to enhance its market share by targeting IoT-related brand customers and expanding its overseas client base[100]. - The company will establish long-term strategic partnerships with upstream suppliers to ensure resource supply and support[102]. Risk Management - Risk factors related to market competition and regulatory changes have been identified, and the company is taking measures to mitigate these risks[6]. - The company is focusing on developing AMOLED technology, which is expected to be a key growth driver in the coming years[15]. - The touch display industry is facing a supply-demand imbalance, with overall market demand expected to remain weak due to increased competition and technological innovation[89]. Shareholder and Governance - No cash dividends or stock bonuses will be distributed to shareholders for the year 2017[7]. - The company has a cash dividend policy that aligns with its articles of association and shareholder resolutions, ensuring clarity and transparency in its profit distribution[107]. - The company has committed to ensuring no interference in its financial decisions and maintaining a separate financial accounting system[113]. - The company has established a governance structure to ensure independent operation and decision-making processes[113]. - The company has not engaged in any related party transactions that could harm the interests of minority shareholders[113]. Financial Position and Assets - The total assets at the end of 2017 were ¥733,880,740.41, down 47.08% from ¥1,386,709,574.14 at the end of 2016[22]. - The company's basic earnings per share for 2017 was -¥0.4548, a decrease of 384.61% from ¥0.1598 in 2016[21]. - The weighted average return on equity for 2017 was -23.83%, a decline of 28.93% from 5.10% in 2016[21]. - The company reported a loss of ¥15.34 million from investment income, accounting for 11.54% of total profit[63]. - The company recorded an asset impairment of ¥19.17 million, which represented a 14.43% reduction in profit[63]. Operational Changes - The company completed the sale of 100% equity in Huayi Shuo Feng for 850 million yuan, which is expected to improve operational efficiency[85]. - The company disposed of its wholly-owned subsidiary Huashi Shuo Feng, which is no longer included in the consolidated financial statements[142]. - The company has undergone changes in its board of directors and senior management, with new appointments made to ensure effective governance[178][179]. Compliance and Regulations - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties during the reporting period[138]. - The company has adhered to commitments regarding the lawful exercise of shareholder rights and has not engaged in any actions that would harm the interests of the company or other shareholders[136]. - The company has implemented changes in the scope of consolidated financial statements due to the disposal of subsidiaries[142].