Financial Performance - The company's operating revenue for 2019 was CNY 4,201,004,150, representing a 7.13% increase compared to CNY 3,921,517,862 in 2018[18]. - The net profit attributable to shareholders of the listed company was a loss of CNY 171,195,259.6, a decrease of 250.36% from a profit of CNY 113,854,123.48 in 2018[18]. - The basic and diluted earnings per share were both -CNY 0.3774, a decline of 248.35% from CNY 0.2544 in 2018[18]. - The weighted average return on net assets was -19.32% at the end of 2019, down from 11.68% at the end of 2018, indicating a significant decline in profitability[18]. - The company reported a net profit attributable to shareholders of CNY 18,199,939.45 in Q1 2019, which decreased to a net loss of CNY 185,183,952.67 in Q4 2019[42]. - The company's net profit attributable to ordinary shareholders for 2019 was negative at RMB -148,345,871.43, resulting in no cash dividends being proposed[126]. Cash Flow and Assets - The net cash flow from operating activities decreased by 71.15%, amounting to CNY 246,929,891.93 compared to CNY 855,808,255.12 in the previous year[18]. - Total assets at the end of 2019 were CNY 3,071,760,281, reflecting a decrease of 2.93% from CNY 3,164,587,742 in 2018[19]. - The net cash flow from operating activities significantly dropped by 71.15% to ¥246,929,891.93 compared to the previous year[90]. - The total cash inflow from operating activities decreased by 2.52% to ¥4,785,167,244.46 compared to the previous year[90]. - The company's long-term equity investments decreased by 4.14% to 110,805,978.48 yuan, primarily due to significant impairments recognized from its joint venture[95]. Revenue Breakdown - Revenue from the third-party payment sector accounted for 85.09% of total revenue, amounting to ¥3.57 billion, up 7.69% from ¥3.32 billion in the previous year[76]. - The total revenue for the main business in 2018 was ¥3,921,517,862.11, with operating costs of ¥2,615,805,820.35 after adjustments[28]. - The total revenue for the main business in 2019 was ¥2,104,862,507.15, with operating costs of ¥1,582,458,764.30 after adjustments[22]. - The transportation sector saw a revenue increase of 21.72%, totaling ¥388.41 million, compared to ¥319.10 million in 2018[76]. Accounting Policies and Adjustments - The company has undergone an accounting policy change regarding the depreciation of POS machines, which has been reclassified from management expenses to operating costs[19]. - The adjustment in accounting policy resulted in an increase in operating costs from ¥1,545,468,686.84 to ¥1,582,458,764.30, reflecting an adjustment of ¥36,990,077.46[21]. - The company implemented new accounting policies starting January 1, 2019, including the expected credit loss model for financial asset impairment[140]. - The company adjusted the accounting treatment for POS machine depreciation from "management expenses" to "operating costs" effective January 1, 2019[140]. Investments and Acquisitions - The company acquired a 51% stake in QuanChengTao Information Technology Service Co., enhancing its capabilities in the SaaS service sector[48]. - The company invested 10 million yuan in a new generation technology platform, expected to launch in 2020, aimed at enhancing operational efficiency and growth potential[66]. - The company’s subsidiary Zhejiang Jifu acquired 51% of Quan Cheng Tao for a total consideration of 2,550,000 RMB[189]. Market Expansion and Strategy - The company is actively expanding into new markets, including Wuxi, Changzhou, Suzhou, Xiamen, Kunming, and Zhejiang, while securing contracts for projects like the Guangzhou Metro smart station[52]. - The company aims to enhance its financial technology business, which has shown significant support for revenue and profit, following the acquisition of a 45% stake in Shanghai Jifu[108]. - The company plans to accelerate its overseas expansion, particularly in Southeast Asia, aiming to enhance the capabilities of Singapore Jifu and increase market share in local operations[112]. Risk Management - The company faces significant risks as outlined in the report, which investors are advised to review carefully[6]. - The risk control system achieved a coverage rate of over 95% for monitoring risks such as counterfeit cards and fraud[61]. - The company emphasized internal control and risk management improvements, enhancing its operational resilience and governance standards[71]. Shareholder Commitments and Governance - The company has a three-year shareholder return plan (2018-2020) that it adheres to strictly[123]. - The company has committed to not reducing its shareholding in the listed company for a period of 60 months following the issuance of the commitment letter[128]. - The company has established a framework for managing potential conflicts of interest among its major shareholders and executives[132]. Research and Development - The company’s research and development expenses for 2017 remained at CNY 37,622,585.95, indicating a stable investment in innovation[38]. - Research and development expenses amounted to ¥117,077,779.52, a decrease of 6.32% year-on-year, representing 2.79% of operating revenue[88]. Corporate Social Responsibility - The company actively fulfilled its corporate social responsibilities, ensuring the protection of shareholder rights and employee welfare[176]. - The company did not conduct any precision poverty alleviation work during the reporting year and has no subsequent plans[177].

Financial Performance - The company's operating revenue for 2020 was ¥3,279,219,307.74, a decrease of 21.94% compared to ¥4,201,004,150.54 in 2019[19] - The net profit attributable to shareholders was -¥485,718,546.80, representing a decline of 227.42% from -¥148,345,871.43 in the previous year[19] - The net cash flow from operating activities decreased by 48.16% to ¥128,014,424.11 from ¥246,929,891.93 in 2019[19] - The total assets at the end of 2020 were ¥2,489,474,527.24, down 18.96% from ¥3,071,760,281.22 at the end of 2019[19] - The net assets attributable to shareholders decreased by 67.06% to ¥237,339,867.47 from ¥720,601,521.00 in 2019[19] - The basic earnings per share for 2020 was -¥1.2355, a decline of 227.37% compared to -¥0.3774 in 2019[19] - The weighted average return on net assets was -101.41%, down 82.09% from -19.32% in the previous year[19] - The company reported a significant increase in non-recurring losses, with the net profit after deducting non-recurring gains and losses at -¥507,765,112.39, a decrease of 196.60% from -¥171,195,259.62 in 2019[19] - The company faced uncertainty regarding its ability to continue as a going concern, as indicated by the negative net profit figures over the last three accounting years[19] - The company’s total revenue for the year was 2,434.9089 million yuan, a year-on-year decrease of 31.89%[47] - The net profit attributable to the parent company was -97.8179 million yuan, a year-on-year decrease of 132.67%[47] Revenue Breakdown - Revenue from the third-party payment sector was CNY 2,434,908,915.33, accounting for 74.25% of total revenue, down 31.89% from the previous year[55] - The company experienced a significant drop in revenue from acquiring services, which totaled CNY 2,298,538,623.02, representing a 34.65% decrease[59] - The transportation sector saw a revenue increase of 45.39%, reaching CNY 564,702,203.92, while the electric power sector grew by 17.59% to CNY 277,186,373.36[55] Operational Highlights - The company is focusing on digital transformation for small and micro businesses, leveraging technology and data capabilities to enhance operational efficiency[29] - The company is actively advancing its business in the power industry, focusing on information security, IoT, and industrial intelligence, leveraging over 20 years of experience in specialized communication technology services[34] - The company has developed the "Unmanned Substation Intelligent Operation and Maintenance System V6" and "Substation Intelligent Gateway System V1.1," both certified by Huawei, promoting smart substation products and AIoT integrated solutions[34] - The company is committed to integrating the latest communication technologies into the energy and transportation sectors, ensuring tailored solutions for clients[40] - The company is focusing on optimizing payment service experiences and innovating market services to better serve small and micro businesses in various industries[95] Investment and Acquisitions - The company completed the acquisition of a 30% stake in Singapore-based POS service provider Ezy Net Pte Ltd, expanding its presence in Southeast Asia[46] - The company invested RMB 40 million to establish a new subsidiary, Yalian Data Technology (Hangzhou) Co., Ltd., holding a 40% stake[162] - The company applied for a digital wholesale banking license in Singapore, intending to invest SGD 20 million, but the application was not approved[164] - The company terminated its investment in Qiaoda International Limited due to changes in operational conditions, with no disputes arising from the termination[167] Risk Management - The company implemented internal control training and improved governance structures to enhance risk management capabilities[51] - The company is implementing strict merchant entry processes to mitigate risks associated with third-party payment operations[102] - The company is enhancing its internal control and management to reduce operational risks as it scales its business[101] - The company is focusing on optimizing its capital structure to lower financial risks associated with high debt levels[101] Corporate Governance - The company has a complete decision-making process for cash dividends, with independent directors fulfilling their responsibilities effectively[106] - The company has committed to not engaging in any activities that may harm the interests of the company and its subsidiaries[112] - The company has established a framework to ensure that all related party transactions are conducted at arm's length[113] - The company is focused on maintaining the integrity of its financial practices and protecting shareholder interests[113] Social Responsibility - The company actively fulfilled its social responsibilities, ensuring the protection of shareholders, employees, suppliers, customers, and consumers' rights[154] - During the pandemic in February 2020, the company participated in donation activities, providing over RMB 1 million worth of medical supplies, including 1,600 sets of protective clothing and 20,000 medical masks[156] - The company made cash donations totaling RMB 647,200 to local governments in Henan and Fujian provinces[156] Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% based on new product launches and market expansion strategies[199] - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[197] - Future guidance indicates a focus on sustainable practices, with a commitment to reducing carbon emissions by 30% over the next five years[198]

Financial Performance - The company's operating revenue for Q1 2021 was ¥681,608,608.26, a decrease of 5.65% compared to ¥722,455,374.87 in the same period last year[9] - The net profit attributable to shareholders was a loss of ¥17,183,846.89, an improvement of 45.62% from a loss of ¥31,600,959.44 in the previous year[9] - The net cash flow from operating activities was negative at ¥122,044,554.83, a decline of 253.55% compared to a negative cash flow of ¥34,519,674.01 in the same period last year[9] - The basic earnings per share improved to -¥0.0437, a 45.65% increase from -¥0.0804 in the same period last year[9] - The net profit for the current period is a loss of ¥20,821,903.89, compared to a loss of ¥12,997,994.83 in the previous period, reflecting a worsening financial position[51] - The net loss for Q1 2021 was ¥7,399,841.26, an improvement from a net loss of ¥40,960,254.74 in Q1 2020[46] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,472,810,201.95, a decrease of 0.67% from ¥2,489,474,527.24 at the end of the previous year[9] - The total liabilities decreased to ¥1,377,822,747.37 from ¥1,381,360,526.18, indicating a reduction in financial obligations[42] - The company's total liabilities were CNY 2,142,947,179.73, slightly down from CNY 2,150,475,194.75, showing a decrease of approximately 0.3%[38] - The total equity attributable to shareholders decreased to CNY 220,090,884.49 from CNY 237,339,867.47, a decline of about 7.3%[39] - The total cash and cash equivalents at the end of Q1 2021 stood at 6,954,525.69 CNY, a decrease from 40,941,765.00 CNY at the beginning of the period[57] Cash Flow - Cash flow from operating activities showed a significant decline of 253.55%, amounting to -¥122,044,554.83, mainly due to prepayments to suppliers[20] - The total cash flow from operating activities is a net outflow of ¥122,044,554.83, compared to a net outflow of ¥34,519,674.01 in the previous period[53] - The net cash flow from financing activities increased by 754.96% to ¥114,545,166.57, driven by fundraising activities at the subsidiary Kaidianbao Technology[20] - The net cash flow from financing activities was -22,767,873.66 CNY in Q1 2021, compared to -9,306,844.79 CNY in Q1 2020, reflecting increased financing costs[57] Operational Metrics - Sales expenses decreased by 51.09% to ¥4,715,862.03 due to a decline in offline transaction volume at the subsidiary Kaidianbao Technology[18] - Other income fell by 55.23% to ¥5,428,418.41, primarily due to a reduction in government subsidies received compared to the previous year[18] - Investment income loss increased by 55.18% to -¥3,973,279.48, attributed to higher investment losses in joint ventures and associates[18] - Operating profit improved significantly, with a loss of -¥4,495,715.77, marking an 87.15% recovery compared to the previous year's loss[18] Shareholder Information - The company had a total of 32,897 common shareholders at the end of the reporting period[12] - The company reported a net loss of CNY 404,486,364.25, worsening from a loss of CNY 387,302,517.35 in the previous period[39] Legal and Compliance - The company is involved in ongoing litigation related to its equity investments, with 34 cases pending, involving a total amount of ¥391.34 million[26] - There were no violations regarding external guarantees or non-operating fund occupation by major shareholders during the reporting period[30][31] Future Outlook and Strategic Plans - The company plans to sell a property in Dongguan for a total of ¥48.9 million, covering an area of 4,076.87 square meters, but the transaction has not yet been completed[25] - The company has not disclosed any future outlook or performance guidance[64][65] - No information on mergers or acquisitions is present in the content[64][65] Miscellaneous - The report was released on April 27, 2021[65] - The first quarter report has not been audited[64] - The company has not engaged in any securities or derivative investments during the reporting period[27][28] - The company has not provided any specific financial performance metrics in the available documents[64][65] - No information on user data or market expansion strategies is available in the provided content[64][65] - There are no details regarding new product or technology development in the documents[64][65]

Financial Performance - Operating revenue for the reporting period was CNY 806,762,179.39, down 21.89% year-on-year[9] - Net profit attributable to shareholders of the listed company was a loss of CNY 6,526,980.39, a decline of 834.47% compared to the same period last year[9] - Basic earnings per share were CNY -0.0166, down 822.22% compared to the same period last year[9] - Cumulative net profit for the year is expected to be a loss of 260 million yuan, a decrease of 75.27% compared to the previous year[26] - Basic earnings per share are expected to be -0.6614 yuan, a decrease of 75.25% compared to the previous year[26] - The net profit for Q3 2020 was ¥2,254,254.92, a significant decline from ¥30,205,814.99 in the previous year, indicating a drop of about 92%[46] - The company reported a basic and diluted earnings per share of -¥0.0166, compared to -¥0.0018 in the same quarter last year[47] - The company reported a total comprehensive loss of -¥27,027,170.94 for Q3 2020, compared to a comprehensive income of ¥171,304,110.70 in Q3 2019[54] - The total comprehensive income for the current period is ¥-44,682,264.23, compared to ¥-59,258,615.49 in the previous period, reflecting an improvement of approximately 24.7%[57] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,017,977,343.77, a decrease of 1.75% compared to the end of the previous year[9] - Total liabilities decreased to CNY 2,142,441,647.18 from CNY 2,182,527,408.90, a reduction of approximately 1.83%[38] - Current assets totaled CNY 1,587,520,571.83, slightly increasing from CNY 1,538,615,067.22, representing a growth of about 3.88%[36] - Total liabilities reached CNY 1,394,768,770.42, including current liabilities of CNY 1,069,268,770.42 and non-current liabilities of CNY 325,500,000.00[72] - The company's equity attributable to shareholders decreased to CNY 682,515,561.37 from CNY 720,601,521.00, a decline of about 5.28%[39] - The total equity decreased to ¥587,909,159.13 from ¥632,591,423.36, reflecting a decline of about 7%[42] - The company’s total liabilities to equity ratio stands at approximately 2.20, indicating a leveraged position[72] Cash Flow - The net cash flow from operating activities was a negative CNY 29,141,012.48, a decrease of 276.71% year-on-year[9] - Cash flow from financing activities increased by 116.47 million yuan, an increase of 139.34%, mainly due to reduced payments of discounted bills in the previous year[20] - Cash flow from operating activities shows a net outflow of ¥887,586.29, a significant decline from a net inflow of ¥234,245,943.86 in the previous period[60] - Cash inflow from financing activities was 518,298,483.80, down 24.1% from 682,299,665.73 in the previous period[63] - The net cash flow from financing activities was 35,452,071.73, a turnaround from -37,963,917.34 in the previous period[63] Shareholder Information - The total number of shareholders at the end of the reporting period was 30,156[13] - The top ten shareholders held a total of 78,000,000 shares, representing 19.84% of the company[13] Operational Efficiency - The company is focusing on cost control and efficiency improvements to enhance profitability in future quarters[52] - Operating costs decreased to ¥205,787,057.45 from ¥225,992,766.22, reflecting a reduction of about 8.9%[56] - The total operating costs amounted to ¥799,216,173.22, down from ¥962,720,147.05, reflecting a reduction of approximately 17%[45] - Research and development expenses were ¥23,243,047.11, down from ¥29,209,958.45, indicating a decrease of approximately 20%[45] - Research and development expenses for Q3 2020 were ¥66,179,147.34, a decrease of 16.6% from ¥79,361,419.73 in Q3 2019[53] Investment and Other Income - Non-operating income for the year-to-date was CNY 13,309,269.25, primarily from government subsidies and asset disposals[10] - Investment income decreased by 8.39 million yuan, a decline of 1536.95%, mainly due to increased investment losses from joint ventures[18] - Other income increased by 10.68 million yuan, an increase of 53.18%, mainly due to increased government subsidies received during the pandemic[18]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥1,662,684,042.86, a decrease of 20.75% compared to ¥2,098,064,508.97 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was a loss of ¥31,036,305.98, representing a decline of 182.68% from a profit of ¥37,536,549.69 in the previous year[17]. - The net cash flow from operating activities was ¥28,253,426.19, down 87.03% from ¥217,755,130.13 in the same period last year[17]. - The basic earnings per share were -¥0.0789, a decrease of 182.62% compared to ¥0.0955 in the previous year[17]. - Total assets at the end of the reporting period were ¥3,043,521,583.23, a decrease of 0.92% from ¥3,071,760,281.22 at the end of the previous year[17]. - The net assets attributable to shareholders of the listed company were ¥689,584,782.84, down 4.30% from ¥720,601,521.00 at the end of the previous year[17]. - The company achieved total operating revenue of CNY 166,268.40 million in the first half of 2020, a decrease of 21.01% year-on-year[48]. - The net profit attributable to shareholders was CNY -3,103.63 million, a decline of 182.68% compared to the same period last year[48]. - The total comprehensive income for the first half of 2020 was a loss of ¥28,357,555.51, compared to a comprehensive income of ¥138,783,476.55 in the first half of 2019[168]. - The company reported a net loss of 522.6 million in the current period, compared to a profit in the previous period[183]. Operational Challenges - The company is facing significant operational challenges, as indicated by the substantial declines in revenue and profit metrics[17]. - The decline in performance is primarily attributed to the impact of the pandemic, which led to a decrease in transaction volume for the main revenue source, the Kaidianbao technology[82]. - Operating cash flow decreased by 87.03% year-on-year, primarily due to a decline in gross profit margin from offline transaction services[58]. - The company anticipates improved profitability starting in the third quarter due to policy adjustments and cost reduction measures as the pandemic situation gradually improves[82]. Strategic Focus - The company is focusing on a strategic upgrade to enhance its smart business capabilities, leveraging technology and big data to empower small and micro businesses[32]. - The company aims to create a "technology + payment + finance" model to address pain points in the third-party payment industry[34]. - The company is focusing on enhancing project execution capabilities and customer satisfaction while transitioning from traditional engineering integration to product and technology development[54]. - The company is focusing on enhancing its product offerings and exploring potential mergers and acquisitions to drive growth[183]. Market Presence and Expansion - The company is expanding its market presence in provinces such as Henan, Shandong, Yunnan, Anhui, and Hubei, in addition to consolidating its projects in Jiangsu and Shaanxi[54]. - The company completed the acquisition of a 30% stake in Singapore-based POS service provider Ezy Net Pte Ltd, enhancing its presence in Southeast Asia[49]. - The company has established itself as a service provider for private network communication solutions, emphasizing customized solutions and high-quality services[41]. Risk Management - The company emphasizes the importance of monitoring investment risks related to its future development plans[5]. - The company faces risks from a tightening regulatory environment in the mobile payment industry, which could impact operational performance if adverse changes occur[83]. - Increased competition in the third-party payment sector poses a risk, as the market dynamics shift with the rise of cardless payment methods and the entry of numerous competitors[85]. - The company has implemented a robust risk management system for its third-party payment business to prevent fraud and ensure compliance with regulatory standards[88]. Legal and Compliance - The company reported a significant litigation case involving a total amount of 7,690.22 million yuan related to a stock repurchase dispute, currently under trial[97]. - Another ongoing litigation involves a loan dispute with an amount of 3,864.26 million yuan, which is also under review and has no expected liabilities[98]. - There were no penalties or rectification measures taken against the company during the reporting period[101]. Shareholder Information - The total number of shares after the recent changes is 393,120,000, with 25.36% being restricted shares and 74.64% being unrestricted shares[137]. - The largest shareholder, Jiaxing Qiande Jingyi Investment Partnership, holds 19.84% of the shares, totaling 78,000,000 shares, with 56,360,000 shares pledged[140]. - The total number of ordinary shareholders at the end of the reporting period was 31,771[140]. Cash Flow and Financial Position - Cash and cash equivalents decreased to approximately ¥477.78 million, down 2.20% from the previous year[68]. - The net cash flow from investing activities was -CNY 47,858,852.24, an improvement from -CNY 231,496,943.27 in the first half of 2019[176]. - Cash inflow from financing activities totaled CNY 338,624,833.36, down 25% from CNY 451,215,642.78 in the same period last year[176]. - The total liabilities at the end of the period amount to 1,700 million, indicating a stable financial position despite the losses[184].

Financial Performance - The company's operating revenue for 2019 was CNY 4,201,004,150, representing a 7.13% increase compared to CNY 3,921,517,862 in 2018[17] - The net profit attributable to shareholders was a loss of CNY 148,345,871.4, a decline of 248.31% from a profit of CNY 100,026,434.62 in the previous year[17] - The net cash flow from operating activities decreased by 71.15% to CNY 246,929,891.93, down from CNY 855,808,255.12 in 2018[17] - Basic and diluted earnings per share were both CNY -0.3774, a decrease of 248.35% from CNY 0.2544 in 2018[17] - The total revenue for the first half of 2019 was reported at ¥2,104,862,507.15, with operating costs adjusted to ¥1,582,458,764.30[21] - The company reported a total operating income of CNY 1,070,112,478.50 in Q4 2019, with a net profit attributable to shareholders of CNY -185,183,952.67[41] - The company achieved total revenue of CNY 4,208.46 million in 2019, representing a year-on-year growth of 6.99%[63] - The net profit attributable to shareholders was CNY -148.35 million, a decline of 248.31% compared to the previous year[63] - The total transaction amount processed by the third-party payment business reached CNY 4,149.33 billion, marking a year-on-year increase of 20.96%[63] Assets and Liabilities - The total assets at the end of 2019 were CNY 3,071,760,281, reflecting a decrease of 2.93% from CNY 3,164,587,742 at the end of 2018[18] - The net assets attributable to shareholders decreased by 18.07% to CNY 720,601,521 from CNY 879,565,903.40 in 2018[18] - The company's long-term equity investments decreased by 4.14% due to significant impairment losses recognized from its investment in Shenzhen Yinghua Microfinance Co., Ltd.[94] - The company’s short-term borrowings decreased by 2.85% as a result of repaying a significant portion of its short-term debt[94] - Total liabilities reached CNY 2,247,294,518.25, with current liabilities at CNY 1,892,817,213.72[145] Accounting Policies and Changes - The company has undergone an accounting policy change regarding the depreciation of POS machines, moving it from management expenses to operating costs[18] - The adjustment in accounting policy resulted in an increase in operating costs from ¥1,545,468,686.84 to ¥1,582,458,764.30, reflecting an adjustment of ¥36,990,077.46[20] - Management expenses were adjusted from ¥238,861,933.51 to ¥201,871,856.05, a decrease of ¥36,990,077.46[20] - The company implemented new financial instrument accounting standards starting January 1, 2019, which changed the measurement of financial asset impairment from "incurred loss model" to "expected credit loss model"[139] - The company adjusted the accounting treatment of POS machine depreciation from "management expenses" to "operating costs" effective January 1, 2019, to better reflect business operations[139] Market and Business Strategy - The company is actively expanding into new markets, including Wuxi, Changzhou, Suzhou, Xiamen, Kunming, and Zhejiang, while securing contracts for projects like the Guangzhou Metro smart station[51] - The company’s financial technology business is evolving to integrate payment systems with various trade and application scenarios, aiming to improve efficiency and risk control[46] - The company aims to empower small and micro merchants through third-party payment services, enhancing their operational capabilities with a comprehensive service ecosystem[108] - The company plans to accelerate its overseas expansion, particularly in Southeast Asia, with Singapore as a hub to enhance its market presence and competitiveness[111] - The company is focusing on expanding its market presence in new regions, including Wuxi, Changzhou, and Xiamen, to enhance its service capabilities[68] Risk Management - The company faces significant risks as outlined in the report, which investors are advised to consider[5] - Future development plans are mentioned but are not guaranteed commitments to investors, highlighting the importance of assessing investment risks[5] - The company established a risk control ecosystem with a coverage rate of over 95% for monitoring risks such as card fraud and unauthorized transactions[60] - The company recognizes the operational risks in its third-party payment business, particularly regarding merchant verification and transaction monitoring[116] - The company implemented a strict merchant admission process, including unique regional codes and on-site registration to verify merchant authenticity[118] Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares for the year[6] - The company has a three-year shareholder return plan (2018-2020) that it adheres to strictly[122] - The company has committed to not reducing shareholdings for 60 months following the issuance of commitment letters[127] - The company has established a goodwill of 859 million yuan, accounting for 27.95% of total assets, which poses a risk of impairment if market conditions deteriorate[115] - The company has committed to ensuring that its controlling entities do not engage in competitive business activities that could harm the interests of the company and its shareholders[131] Research and Development - The company’s R&D expenses for 2017 were CNY 37,622,585.95, with total management expenses adjusted to CNY 174,151,528.01 after a reduction of CNY 5,468,480.04[37] - Research and development expenses were ¥117,077,779.52, a decrease of 6.32% from the previous year, representing 2.79% of total revenue[87] - The company plans to implement new marketing strategies, which are anticipated to improve customer engagement by 15%[132] - Research and development investments increased by 30%, totaling 150 million RMB, aimed at advancing product innovation[132] Compliance and Legal Matters - The company has not engaged in any major related party transactions during the reporting period[159] - The company has no significant litigation or arbitration matters that would impact its financial position[154] - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[138] - The company has established a framework for compensating any losses incurred due to false or misleading information provided during transactions[134] Customer and Market Engagement - The company actively communicated with investors through various channels, ensuring the protection of shareholders' rights[175] - The company has established a multi-dimensional fraud prevention mechanism that includes real-time monitoring and dynamic rule adjustments[118] - The company has committed to maintaining transparency and accountability in its financial reporting and disclosures[134]

第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 2020-030 深圳亚联发展科技股份有限公司 2020 年第一季度报告全文 2020 年 04 月 深圳亚联发展科技股份有限公司 1 2020 年第一季度报告 深圳亚联发展科技股份有限公司 2020 年第一季度报告全文 所有董事均已出席了审议本次季报的董事会会议。 公司负责人王永彬、主管会计工作负责人陈道军及会计机构负责人(会计主 管人员)司红娟声明：保证季度报告中财务报表的真实、准确、完整。 2 深圳亚联发展科技股份有限公司 2020 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 √ 是 □ 否 追溯调整或重述原因 会计政策变更 | | 本报告期 | 上年同期 | | 本报告期比上年同 | | --- | --- | --- | --- | --- | | | | | | 期增减 | | | | 调整前 | 调整后 | 调整后 | | 营业收入（元） | 722,455, ...

Financial Performance - Total revenue for the reporting period reached CNY 1,032,827,163.07, a decrease of 5.62% compared to the same period last year[9] - Net profit attributable to shareholders was CNY -698,468.4, representing a decline of 102.84% year-on-year[9] - The company reported a basic earnings per share of CNY -0.0018, a decrease of 102.88% compared to the same period last year[9] - Net profit for Q3 2019 was approximately ¥30.21 million, down 54.83% from ¥66.95 million in Q3 2018[50] - The company’s total revenue for the year-to-date was ¥3,138,342,742.14, an increase of 14.0% from ¥2,754,945,119.02 in the previous year[57] - The net profit for the year-to-date was ¥168,458,773.01, down from ¥208,526,482.36 in the previous year, reflecting a decrease of 19.2%[58] - The company reported a net profit increase, with retained earnings rising to CNY 283,599,982.12 from CNY 252,658,700.88, an increase of approximately 12%[43] Cash Flow and Liquidity - Net cash flow from operating activities was CNY 16,490,813, down 91.59% compared to the previous year[9] - The company's cash and cash equivalents increased by CNY 198.14 million, a growth of 45.75% compared to the beginning of the period, mainly due to an increase in settlement reserves[20] - The net cash flow from operating activities decreased by 625.82% year-on-year, amounting to a reduction of 395.73 million yuan, primarily due to increased payments to employees and a decline in gross profit margin[23] - The net cash flow from financing activities increased by 86.99% year-on-year, totaling an increase of 558.81 million yuan, mainly due to the repayment of bank loans in the previous year and profit distribution by Shanghai Jifu[23] - The total cash inflow from operating activities was ¥3,789,191,674.81, an increase from ¥3,098,377,702.83 in the previous period[66] - Cash and cash equivalents at the end of the period totaled ¥159,086,783.81, down from ¥215,677,555.47, a decline of 26.18%[67] Assets and Liabilities - Total assets at the end of the reporting period amounted to CNY 3,308,632,880.35, an increase of 4.55% from the beginning of the year[9] - Total current assets increased to CNY 1,545,250,317.54 as of September 30, 2019, up from CNY 1,405,278,388.80 at the end of 2018, representing a growth of approximately 10%[41] - Total liabilities decreased to CNY 2,207,336,221.45 from CNY 2,247,294,518.25, reflecting a reduction of about 2%[42] - The company’s total liabilities amounted to approximately ¥1,384.82 million, a slight decrease from ¥1,401.24 million in the previous year[48] - The company’s total assets were approximately ¥2,187.44 million, a decrease from ¥2,269.02 million year-on-year[48] - Total equity was reported at CNY 867.78 million, with retained earnings of CNY 186.81 million[80] Investments and Expenses - Research and development expenses increased by CNY 35.21 million, a growth of 79.74%, reflecting higher R&D investments compared to the previous year[21] - Research and development expenses for Q3 2019 were approximately ¥29.21 million, an increase from ¥17.23 million in the same period last year[49] - The company reported a significant increase in research and development expenses year-to-date, totaling ¥79,361,419.73, up from ¥44,152,418.42 in the previous year, representing an increase of 79.8%[58] - Sales expenses decreased by CNY 88.26 million, a reduction of 45.96%, mainly due to decreased hardware sales leading to lower rebates[21] - The company reported a decrease in sales expenses, which were approximately ¥16.79 million compared to ¥97.31 million in the previous year[49] Shareholder and Corporate Actions - The company plans to issue up to 20% of its total shares, approximately 7,862,400 shares, to strengthen its control over Shanghai Jifu and optimize its capital structure[30] - The company completed the registration of its joint venture PT CANDYPAY GLOBAL UTAMA in Indonesia on June 26, 2019, with shareholders contributing 50% of the initial capital as of September 30, 2019[28] - The company’s major shareholder, Wang Yanming, reduced her holdings by 249,900 shares, representing 0.063568% of the total share capital, leaving her with 19,295,224 shares, or 4.91% of the total[25] - The company has no violations regarding external guarantees during the reporting period[33] - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[34] Accounting and Compliance - The company implemented a change in accounting policy regarding the depreciation of POS machines, affecting the classification of expenses but not impacting net profit[10] - The financial report reflects the implementation of new financial instrument standards starting in 2019[81] - The report does not indicate any adjustments or significant changes in accounting policies[80] - The company has not undergone an audit for the third quarter report[81]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 2,098,064,508.97, representing a 27.00% increase compared to CNY 1,651,971,101.86 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was CNY 37,536,549.69, a 3.54% increase from CNY 36,253,732.37 year-on-year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 5.23% to CNY 27,708,741.66 from CNY 29,238,321.62 in the previous year[19]. - The net cash flow from operating activities was CNY 217,755,130.13, down 49.82% from CNY 433,930,807.97 in the same period last year[19]. - Total assets at the end of the reporting period were CNY 3,449,980,097.63, an increase of 9.02% from CNY 3,164,587,742.78 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company increased by 3.66% to CNY 911,736,171.62 from CNY 879,565,903.40 at the end of the previous year[19]. - The basic earnings per share for the reporting period was CNY 0.0955, up 3.58% from CNY 0.0922 in the same period last year[19]. - The company achieved total revenue of RMB 2,104.86 million, a year-on-year increase of 27%[50]. - Net profit attributable to shareholders was RMB 37.54 million, up 3.54% compared to the same period last year[50]. Market Expansion and Contracts - The company secured contracts in the urban rail transit sector, including a project in Kunming worth approximately ¥77.35 million and another in Wuxi worth ¥26.10 million[30]. - The company is actively expanding its market presence in the highway sector, winning contracts in multiple provinces, including a project in Hebei worth approximately ¥17.84 million[31]. - The smart transportation market in China is projected to grow from ¥81.5 billion in 2019 to ¥159 billion by 2023, with a compound annual growth rate of approximately 18.18%[32]. - The company secured contracts in the rail transit sector, including a RMB 26.10 million project for the Wuxi Metro Line 4 communication system[45]. - In the financial technology sector, the company expanded its services to 12.08 million registered small and micro merchants, with a total of 24.19 million MPOS terminals sold[47]. Research and Development - Research and development expenses increased by 90.85% to RMB 50.15 million, reflecting a commitment to innovation[52]. - The company has applied for a total of 42 patents, including 12 invention patents, 24 utility model patents, and 6 design patents, demonstrating its commitment to innovation and technology development[38]. - The company specializes in providing information communication technology solutions primarily for the energy and transportation sectors, including software and hardware development[169]. - The company is engaged in research and development of communication systems and technologies, which is crucial for its market expansion strategy[169]. Subsidiaries and Investments - The company’s subsidiary, Shanghai Jifu, is one of 33 third-party payment institutions with national bank card acquiring qualifications, focusing on providing services to small and micro businesses[33]. - The company’s subsidiary, Shanghai Jifu, achieved original premium income of CNY 492.1101 million in the first half of 2019, with a cumulative original premium income of CNY 943.1823 million by the end of the reporting period[35]. - The company formed a new subsidiary, Shenzhen Yalian Information Technology Service Co., Ltd., during the reporting period, with no significant impact on overall operations[70]. - The company made strategic acquisitions, including a 51% stake in All City Toad Information Technology Service Co., enhancing its B-end ecosystem[48]. - The company approved the use of up to RMB 300 million for financial investments, with individual investment products not exceeding 12 months in duration[112]. Financial Position and Risks - The company's total equity increased to CNY 1,067,615,868.08, up from CNY 917,293,224.53, reflecting a growth of 16.38%[135]. - The company faces risks related to macroeconomic conditions and regulatory changes that could impact its third-party payment business[71]. - The competitive landscape in the communication market has fundamentally changed, increasing pressure on the company to maintain its competitive advantages[72]. - The company has goodwill amounting to ¥859 million, which constitutes 24.88% of total assets, posing a risk of impairment[72]. - The company is focused on optimizing its capital structure and reducing financial risks associated with high debt levels[73]. Cash Flow and Investments - The total cash inflow from financing activities amounted to 345,059,858.99 CNY, while the outflow was 444,764,965.55 CNY, resulting in a net cash flow of -99,705,106.56 CNY[153]. - The cash inflow from loans received was 89,330,000.00 CNY, contributing to the financing activities[153]. - The company reported cash inflows from financing activities of CNY 451.22 million in the first half of 2019, compared to CNY 99.35 million in the same period of 2018, showing a substantial increase[150]. - The cash outflows from investing activities in the first half of 2019 totaled CNY 251.10 million, compared to CNY 801.10 million in the same period of 2018, indicating a reduction in investment spending[150]. Shareholder Information - The total number of shares outstanding is 393,120,000, with 25.36% being restricted shares and 74.64% being unrestricted shares[116]. - The largest shareholder, Jiaxing Qiande Jingyi Investment Partnership, holds 19.84% of shares, totaling 78,000,000 shares[118]. - Shareholder Wang Yanming, holding 5% of the company's shares, plans to reduce her holdings by 393,120 shares, representing 0.10% of the total share capital[109]. - The company has no stock incentive plans or employee shareholding plans in place during the reporting period[89]. Legal and Compliance - The semi-annual financial report has not been audited[82]. - There were no significant litigation or arbitration matters during the reporting period[84]. - The company has no significant legal disputes that would impact its financial performance, with ongoing cases having no major influence[85]. - There were no penalties or corrective actions taken against the company during the reporting period[87]. Future Outlook - The company plans to enhance its market expansion strategies and invest in new product development to drive future growth[160]. - The company has identified potential areas for mergers and acquisitions to strengthen its market position and diversify its offerings[160]. - The company aims to improve its operational efficiency and reduce costs in response to the current financial challenges[160].

Financial Performance - The company's operating revenue for Q1 2019 was ¥947,582,496.65, representing a 35.89% increase compared to ¥697,318,554.83 in the same period last year[9] - The net profit attributable to shareholders was ¥18,199,939.45, a 4.35% increase from ¥17,440,900.88 year-on-year[9] - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 25.61% to ¥13,381,692.33 from ¥17,988,601.15 in the previous year[9] - The basic earnings per share for the period was ¥0.0463, up 4.28% from ¥0.0444 in the same period last year[9] - The diluted earnings per share also stood at ¥0.0463, reflecting the same 4.28% increase[9] - The company reported a significant increase in investment income, which rose by 209.82% to ¥2,334,660.65 from ¥753,555.30 in the previous year[19] - The company reported a total comprehensive income of CNY 66,997,572.72 for Q1 2019, compared to CNY 71,067,024.27 in Q1 2018[48] - The net profit for Q1 2019 was CNY 68,810,414, slightly down from CNY 70,278,300 in Q1 2018, representing a decrease of approximately 2%[47] - The company reported a total equity of CNY 917,293,224.53, consistent across the reporting periods[61] Cash Flow and Liquidity - The net cash flow from operating activities was ¥48,663,286.13, down 65.70% from ¥141,889,068.43 in the same period last year[9] - Cash generated from operating activities decreased by 65.70% to ¥48,663,286.13, down from ¥141,889,068.43, mainly due to higher operational payments[22] - Cash and cash equivalents decreased to CNY 346,640,412.51 from CNY 433,092,568.64, a drop of approximately 20.0%[36] - Cash and cash equivalents at the end of the period totaled 142,874,378.30 CNY, down from 253,002,514.06 CNY at the end of the previous year, a decrease of about 43.5%[55] - The company received 618,856.75 CNY in tax refunds, compared to 2,568,306.84 CNY in the same period last year, indicating a decrease of about 76.1%[54] - Operating cash inflow for Q1 2019 was CNY 222,038,495.43, a decrease of 21.9% from CNY 284,348,952.47 in the previous period[56] - Net cash flow from operating activities was CNY 26,636,549.30, down 57.0% from CNY 61,975,542.82 year-on-year[56] - Cash inflow from financing activities totaled CNY 283,309,832.00, an increase of 157.5% compared to CNY 110,277,054.99 in the prior period[57] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,077,734,167.00, a decrease of 2.74% from ¥3,164,587,742.78 at the end of the previous year[9] - Total current assets decreased to CNY 1,251,166,530.54 from CNY 1,405,278,388.80, a decline of approximately 10.9%[37] - Total liabilities decreased to CNY 2,092,819,416.02 from CNY 2,247,294,518.25, a decrease of approximately 6.9%[38] - Total liabilities amounted to CNY 2,247,294,518.25, with no change reported[61] - The company has long-term borrowings of CNY 325,500,000.00, indicating reliance on debt financing[64] Operational Efficiency - Operating costs increased by 44.82% to ¥652,100,983.36, up from ¥450,286,198.39, primarily due to the growth in operating revenue[19] - Research and development expenses for Q1 2019 were CNY 25,932,452.20, compared to CNY 24,362,727.90 in Q1 2018, indicating a 6.5% increase[45] - The company continues to focus on market expansion and product development, as indicated by the increase in R&D expenses[45] Investments and Acquisitions - The company executed a capital increase in its wholly-owned subsidiary, Singapore JFPAL Investment Management PTE.LTD., investing $1 million to acquire shares in Indonesian PT. E2PAY GLOBAL UTAMA[26] - The company completed the acquisition of a 51% stake in All City Taobao Information Technology Service Co., Ltd. for a total consideration of ¥2,550,000[27] Non-Recurring Items - The company reported non-recurring gains and losses totaling ¥4,818,247.12 for the period[10] - The company reported a decrease in prepaid expenses to CNY 210,710,537.20 from CNY 115,441,021.07, an increase of approximately 82.5%[36] Financial Reporting and Reliability - The report for the first quarter is unaudited, which may affect the reliability of the financial data presented[65]