证券代码：002387 证券简称：维信诺 维信诺科技股份有限公司投资者关系活动记录表 编号：2021-007 | --- | --- | --- | |-------------------|-----------------------------------|---------------------------------------------------------------------| | | | | | 投资者关 | 特定对象调研 □分析师会议 | | | 系活动类 | □媒体采访 □业绩说明会 | | | 别 | □新闻发布会 | □路演活动 | | | □现场参观 | | | | 其他 电话会议 | | | 参与单位 名称 | | 方正证券、天风资管、永泉资本、涌融资本、中信建投资管、智越投资 | | 时间 2021 | 年 10 月 30 日 | | | | | | | 地点 | 电话会议 | | | 上市公司 接待人员 | 副总经理、董事会秘书 | 徐凤英 | | 姓名 | | | | | 主要交流内容 | | | | 一、介绍前三季度公司经营情况 2021 | 年前三季度，公司实现 ...

编号：2022-002 证券代码：002387 证券简称：维信诺 维信诺科技股份有限公司投资者关系活动记录表 | --- | --- | --- | |--------------------|---------------------------------|----------------------------------------------------| | | | | | | □特定对象调研 | □分析师会议 | | | □媒体采访 | 业绩说明会 | | 投资者关系活动类别 | □新闻发布会 | □路演活动 | | | □现场参观 | | | | □其他（请文字说明其他活动内容） | | | | 上市公司参与人员： | | | | 董事长兼总经理 | 张德强 | | | 副总经理兼董事会秘书 | 徐凤英 | | 活动参与人员 | 财务总监 周任重 | | | | 独立董事 张奇峰 | | | | 外部参与人员：参加维信诺 | 2021 年度网上业绩说明会的 | | | 投资者 | | | 时间 | 2022 年 5 月 20 日 | | | 地点 | 进门财经 | （https://s.com ...

证券代码：002387 证券简称：维信诺 维信诺科技股份有限公司投资者关系活动记录表 编号：2022-001 | --- | --- | --- | --- | |----------------|----------------------------|------------------------------------------------|--------------------------------------------------------| | | | | | | | | | | | 投资者关系活动 | 特定对象调研 | □ 分析师会议 | | | 类别 | □ 媒体采访 | □ 业绩说明会 | | | | □ 新闻发布会 | □ 路演活动 | | | | □ 现场参观 | | | | | □ 其他 | （请文字说明其他活动内容） | | | 参与单位名称 | | 德邦证券、海通证券、东北证券、五矿证券、Acuity | Knowledge | | | Partners、Morgan | | Stanley、安信证券、光大资管、煜德投资、 | | | | | 前海开源基金、杭州玖龙资产 ...

Financial Performance - The company's operating revenue for Q3 2022 was ¥1,422,281,155.73, a decrease of 5.82% compared to ¥1,510,176,713.43 in the same period last year[5]. - The net profit attributable to shareholders was a loss of ¥809,144,619.84, representing a 95.83% decline from a loss of ¥413,182,602.12 in the previous year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥830,673,027.19, down 98.71% from a loss of ¥418,041,507.49 in the same period last year[5]. - The basic earnings per share were -¥0.5917, a decline of 95.86% from -¥0.3021 in the same period last year[8]. - The net loss attributable to the parent company was approximately ¥3.44 billion, worsening from a loss of ¥1.48 billion in the previous year[35]. - The operating profit for Q3 2022 was -2,776,827,267.87 CNY, which is a decline from -1,539,843,842.45 CNY in the same period last year, indicating a worsening operational performance[37]. Cash Flow - The net cash flow from operating activities was ¥705,038,565.87, a decrease of 52.25% compared to ¥1,476,638,950.07 in the previous year[8]. - The company's cash flow from operating activities decreased by 52.25% to ¥705,038,565.87 compared to the same period last year, primarily due to a reduction in government subsidies and changes in advance payments and inventory[17]. - The cash flow from operating activities for Q3 2022 was 705,038,565.87 CNY, down from 1,476,638,950.07 CNY in Q3 2021, showing a decrease of approximately 52.3%[40]. - The cash flow from financing activities generated a net inflow of 619,760,261.98 CNY, contrasting with a net outflow of -1,048,111,766.08 CNY in Q3 2021, marking a significant improvement[42]. Assets and Liabilities - The total assets at the end of the reporting period were ¥38,762,461,425.25, a slight increase of 0.20% from ¥38,671,385,176.95 at the end of the previous year[8]. - The total liabilities increased to approximately ¥15.47 billion from ¥13.06 billion, reflecting a rise of about 18.5%[35]. - The company's total assets amounted to approximately ¥38.76 billion, slightly down from ¥38.84 billion at the end of the previous quarter[35]. - The company's non-current assets totaled approximately ¥29.32 billion, down from ¥31.25 billion, a decrease of about 6.2%[35]. Equity and Shareholder Information - The equity attributable to shareholders decreased by 13.86% to ¥11,817,812,644.04 from ¥13,597,067,379.84 at the end of the previous year[8]. - The company's equity attributable to shareholders was approximately ¥11.82 billion, down from ¥13.72 billion, a decline of about 13.9%[35]. - The total number of shares held by the concerted action parties reached 294,940,838 shares, representing 21.32% of the voting rights[30]. - The company has no controlling shareholder or actual controller, maintaining its independent status[30]. Research and Development - Research and development expenses rose by 116.58% to ¥224,610,825.33, highlighting the company's commitment to innovation and technology advancement[13]. - Research and development expenses for the quarter were approximately ¥224.61 million, significantly higher than ¥103.71 million in the same period last year, indicating an increase of about 116.4%[35]. Inventory and Production - The company's inventory increased by 49.80% to ¥1,407,370,127.58, attributed to preparations for future sales[13]. - The average utilization rate of the company's OLED production lines reached 64%, significantly higher than the industry average of 49%, indicating strong operational efficiency[22]. Government Subsidies and Other Income - The company recognized government subsidies amounting to ¥18,468,756.28 during the reporting period, primarily from its subsidiaries[9]. - The company reported a significant decrease in other income by 74.96% to ¥40,701,909.51, mainly due to reduced government grants[15]. - The company reported a total of ¥21,528,407.35 in other non-recurring gains during the reporting period, including tax refunds and VAT adjustments[11]. Investment and Financing - The company's short-term borrowings increased by 58.52% to ¥6,268,097,468.14, reflecting a strategic decision to enhance liquidity[13]. - The company faced a 220.45% decline in investment income, reporting a loss of ¥65,235,272.65, primarily due to decreased returns from joint ventures[15]. - The cash flow from investing activities was -935,064,196.18 CNY, compared to -1,150,705,571.59 CNY in the previous year, indicating a reduction in cash outflow from investments[42].

Financial Performance - Visionox reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the first half of 2022, representing a year-on-year growth of 25%[1] - The company reported operating revenue of CNY 3,411,366,627.85, a year-on-year increase of 23.72%[30] - The company achieved OLED product revenue of CNY 3,223,000,000, a year-on-year increase of 20.13%[31] - The company achieved a revenue of 3.411 billion CNY in the first half of 2022, representing a year-on-year growth of 23.72%, with OLED product revenue at 3.223 billion CNY, up 20.13%[44] - The company reported a revenue of approximately CNY 3.43 billion for the first half of 2022, with a net loss of around CNY 161 million[86] User Base and Market Expansion - The company has expanded its user base, reaching 10 million active users by the end of June 2022, an increase of 15% compared to the previous year[1] - Visionox is focusing on market expansion, with plans to enter three new international markets by the end of 2022, targeting a 10% increase in overseas sales[1] - The company’s market share in the mainland OLED panel shipments reached approximately 25.2%, an increase of about 4.0 percentage points year-on-year[32] - The company is focusing on expanding into new application fields for medium-sized displays and exploring new large-sized display markets[33] Research and Development - Visionox plans to invest 300 million RMB in research and development for new OLED technologies in the upcoming year, aiming to enhance product offerings and market competitiveness[1] - R&D investment amounted to ¥638,259,970.84, reflecting a growth of 10.06% compared to the same period last year[46] - The company has applied for a total of 9,102 patents, with 7,384 being invention patents, and has added 500 new authorized invention patents during the reporting period[40] - The company has made significant advancements in Micro LED technology, achieving a mass transfer yield of 99.95% for large-size glass-based TFT hybrid drive production solutions[39] - The company has launched several innovative products, including the world's first low-frequency LTPS-TFT low-power solution and a 1Hz low-power dynamic refresh rate AMOLED display[38] Financial Strategy and Investments - The company has no plans to distribute cash dividends or issue bonus shares for the current fiscal year, prioritizing reinvestment into business growth[4] - The company has temporarily supplemented working capital with 55,564.01 million RMB from the raised funds[69] - The total amount of funds raised in the non-public offering was 1,499,999.99 million RMB, with a net amount of 1,491,514.57 million RMB after deducting issuance costs of 8,485.42 million RMB[68] - The company made a significant equity investment of ¥49,000,000.00 in Hefei Beicheng Information Technology Innovation Investment Partnership, acquiring a 19.60% stake[62] - The company signed a project investment framework agreement with Hefei Municipal Government for a total investment of RMB 11 billion in the 6th generation AMOLED module production line project[162] Operational Efficiency and Challenges - Visionox is developing a new line of flexible display products, expected to launch in Q4 2022, which is anticipated to capture a significant market share[1] - The company plans to enhance operational efficiency to increase production capacity and improve customer response capabilities[33] - The management has identified potential risks including supply chain disruptions and market competition, with strategies in place to mitigate these challenges[1] - The company faces risks related to raw material and equipment supply, primarily due to reliance on foreign suppliers, and aims to strengthen supply chain cooperation[87] - Management risks are anticipated as the company scales operations, necessitating improvements in internal controls and decision-making processes[88] Environmental Compliance and Sustainability - The company has implemented a wastewater treatment facility that includes systems for treating acidic, phosphorus-containing, fluorine-containing, and organic wastewater, ensuring stable compliance with discharge standards[107] - The total emissions of COD from the company are reported to be less than 40.285 tons, while ammonia nitrogen emissions are below 4.0285 tons, indicating adherence to environmental standards[104] - The company has established a comprehensive air pollution control system, including wet scrubbers and low-nitrogen combustion for boiler emissions, ensuring compliance with air quality standards[108] - The company has a robust environmental management system in place, adhering to national standards for wastewater and air emissions[104] - Gu'an Yungu was recognized as a provincial-level ecological environment credit enterprise in June 2022, and has complied with environmental protection tax and pollution liability insurance requirements[119] Shareholder and Stock Information - The company issued 1,070,000 new shares, increasing the total number of shares to 1,628,980,800, representing a 1.18% ownership[166] - The total number of shares increased from 1,382,538,146 to 1,383,608,146 due to the implementation of the 2021 stock option and restricted stock incentive plan, with 2 million stock options and 1.07 million restricted shares granted[168] - The total number of ordinary shareholders at the end of the reporting period is 47,912[184] - The largest shareholder, Tibet Zhihe Capital Management Co., Ltd., holds 267,350,097 shares, accounting for 19.32% of total shares[184] - The company has not disclosed any related party transactions or agreements among shareholders[186]

Financial Performance - Visionox achieved a business revenue of 4.544 billion, representing a year-on-year increase of 32.32%[3] - The company's operating revenue for 2021 was ¥4,544,470,602.59, representing a 32.32% increase compared to ¥3,434,331,072.15 in 2020[36] - The net profit attributable to shareholders for 2021 was -¥1,638,377,470.85, a decrease of 904.82% from ¥203,571,007.83 in 2020[36] - The net cash flow from operating activities increased by 153.03% to ¥1,911,365,308.65 in 2021, compared to ¥755,389,459.01 in 2020[36] - The basic earnings per share for 2021 was -¥1.1979, a decline of 905.04% from ¥0.1488 in 2020[36] - The weighted average return on net assets for 2021 was -11.38%, down by 12.73% from 1.35% in 2020[36] - The company reported a net loss attributable to shareholders of CNY 457.39 million in Q1 2021, with losses continuing throughout the year[42] - The company’s revenue from overseas markets decreased by 29.13% year-on-year, while the gross margin improved by 17.54% due to a shift in product focus[69] - The company reported a loss of -1,598,701,731.23, which accounted for -4.13% of total profits, primarily due to operational losses during the reporting period[95] Product and Technology Development - OLED product revenue doubled, achieving a growth rate of 103.62%[3] - Visionox led globally in two core technologies: under-display camera and high refresh rate, with a maximum refresh rate of 165Hz[6] - The company established China's first Micro LED pilot line, developing a 1.84-inch wearable sample with a pixel density of 326 PPI[7] - The company is focusing on new display technologies, including OLED and Micro LED, and expanding into smart home and industrial medical applications[51] - The company achieved a significant milestone with its U-shaped foldable screen, passing a bending reliability test of up to 2 million cycles in 2021[55] - The company has filed a total of 8,458 patents, including 6,773 invention patents, with 863 new invention patents granted in 2021[56] - The company has developed a Micro LED wearable sample with a pixel density of 326 PPI and a 12.7-inch seamless Micro LED sample for high-end TVs, showcasing industry-leading technology[54] - The company is developing several key technologies, including narrow bezel bonding technology and under-screen camera display compensation technology, to enhance product competitiveness[80] - The company has made significant advancements in OLED aging compensation technology, improving product lifespan and performance[81] Market Position and Strategy - The company ranked fourth globally in shipment volume for the fourth consecutive year[3] - Visionox's new strategy focuses on expanding into small, medium, and large display markets, aiming for comprehensive coverage across all display applications[11] - The company has established four innovation bases in key regions to enhance its market presence and customer support[51] - In 2021, the company ranked fourth globally in AMOLED smartphone panel shipments, maintaining close supply relationships with major brands like Honor, Xiaomi, OPPO, Vivo, and Huami[52] - The company has established a strong foundation in small-sized displays while expanding into mid-sized applications and large-sized new markets, focusing on innovative display technologies over the next five years[54] - The company plans to enhance its factory operational capabilities in 2022, aiming for a substantial increase in supply capacity and rapid conversion of R&D results into mass production[61] - The company aims to become a global leader in the emerging display industry, focusing on technology innovation and supply chain modernization[120] - The OLED panel market is expected to reach 1.2 billion units and exceed 50 billion USD in value by 2026[121] Supply Chain and Operational Efficiency - The company is enhancing its supply chain localization efforts to mitigate supply chain risks and improve material procurement[9] - Visionox aims to strengthen its innovation capabilities and reduce overall costs through localized supply chain development[12] - The company has strengthened its collaboration with upstream suppliers to promote domestic innovation and reduce costs through joint technology development[57] - The company has implemented lean production practices to enhance operational efficiency and improve product delivery capabilities[60] - The company has established a quality management system focused on customer satisfaction and has optimized its internal operations to enhance collaboration and delivery capabilities[60] Governance and Management - The company has undergone a change in controlling shareholders, with no controlling shareholder or actual controller as of March 2021[35] - The company emphasizes the importance of risk awareness regarding forward-looking statements made by management[17] - The company has established a performance evaluation and incentive system linking management compensation to their roles and responsibilities[132] - The company has conducted multiple investor meetings and communications to discuss operational performance and future strategies[128] - The company maintains independence from shareholders holding more than 5%, ensuring autonomous operations in business, personnel, and financial aspects[137] - The company has a complete independent production, supply, and sales system for its OLED display products, ensuring operational independence[137] Employee and Training Initiatives - The total number of employees as of the report date was 599,600, indicating a stable workforce[148] - The number of R&D personnel increased by 25.92% from 1,138 in 2020 to 1,433 in 2021, representing 21.72% of the total workforce[85] - The company has implemented a comprehensive training plan for 2022, including leadership development programs for various management levels, emphasizing strategic planning and team leadership[195][197] - The training programs include a focus on corporate culture and performance management, aimed at enhancing management capabilities[196][198] - The company is committed to continuous improvement in employee skills through various training formats, including online learning and practical workshops[198] Future Outlook - The company plans to expand its market presence and enhance its product offerings in the upcoming fiscal year[148] - The company is focusing on new product development and technological advancements to drive future growth[148] - The company has set performance guidance for the next fiscal year, aiming for a revenue growth of approximately 15%[148] - The company is exploring potential mergers and acquisitions to strengthen its market position[148] - The company provided guidance for the next fiscal year, projecting a revenue growth of 20% to 1.8 billion CNY[154]

Financial Performance - The company's revenue for Q1 2022 was ¥1,489,508,054.33, representing a 22.93% increase compared to ¥1,211,651,161.66 in the same period last year[3] - The net profit attributable to shareholders was -¥580,299,039.50, a decline of 55.59% from -¥372,961,754.57 after adjustments[3] - The net cash flow from operating activities was -¥914,779,095.38, a significant decrease of 261.61% compared to ¥566,033,607.22 in the previous year[3] - The company's total assets at the end of the reporting period were ¥38,709,197,972.88, a slight decrease of 0.34% from the previous year[3] - The weighted average return on equity was -4.32%, down from -2.49% in the previous year[3] - The total operating revenue for the first quarter of 2022 was CNY 1,489,508,054.33, an increase of 22.9% compared to CNY 1,211,651,161.66 in the same period last year[32] - The operating profit for the quarter was a loss of CNY 821,564,107.39, compared to a loss of CNY 442,636,539.10 in the previous year[33] - The net profit for the first quarter was a loss of CNY 700,221,574.55, compared to a loss of CNY 413,608,500.03 in the same quarter last year[33] - The total comprehensive income for Q1 2022 was -700,221,574.55 CNY, compared to -413,608,500.03 CNY in the same period last year[34] - The basic and diluted earnings per share for Q1 2022 were both -0.4243 CNY, worsening from -0.2727 CNY in Q1 2021[34] Operating Costs and Expenses - The company reported a 43.72% increase in operating costs, totaling ¥1,485,679,048.73, primarily due to increased depreciation after production line stabilization[12] - The total operating costs amounted to CNY 2,127,487,066.68, up 35.7% from CNY 1,568,140,362.34 year-on-year[33] - The company experienced a 57.11% rise in selling expenses, amounting to ¥13,411,793.32, attributed to higher sales personnel costs[12] - The company reported a 70.79% increase in credit impairment losses, totaling ¥6,657,540.26, due to recoveries from other receivables[12] Cash Flow - The cash flow from financing activities improved significantly, with a net inflow of ¥885,310,977.07, a 171.91% increase compared to the previous year[13] - Cash flow from operating activities for Q1 2022 showed a net outflow of -914,779,095.38 CNY, a decline from a net inflow of 566,033,607.22 CNY in Q1 2021[36] - Cash inflow from operating activities totaled 1,149,260,526.26 CNY, down from 1,225,272,318.04 CNY in the previous year[36] - Cash outflow from operating activities increased to 2,192,645,030.33 CNY in Q1 2022, compared to 1,217,537,183.06 CNY in Q1 2021[36] - The net cash flow from investing activities was -371,325,474.19 CNY, an improvement from -456,632,529.33 CNY in the same quarter last year[38] - Cash inflow from financing activities reached 3,421,924,431.48 CNY, significantly higher than 1,898,021,089.12 CNY in Q1 2021[38] - The net cash flow from financing activities was 885,310,977.07 CNY, contrasting with a net outflow of -1,231,133,916.56 CNY in the previous year[38] - The ending balance of cash and cash equivalents was 2,216,293,209.30 CNY, compared to 1,132,378,771.39 at the end of Q1 2021[38] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 48,682, with the top ten shareholders holding significant stakes[21] - The largest shareholder, Tibet Zhihe Capital Management Co., Ltd., holds 240 million shares, accounting for 17.36% of the total share capital[26] Assets and Liabilities - The company's total current assets at the end of the reporting period amounted to RMB 7.864 billion, an increase from RMB 7.590 billion at the beginning of the year[30] - The company's total assets decreased to CNY 38,709,197,972.88 from CNY 38,840,591,539.79 at the end of the previous quarter[32] - The total liabilities increased to CNY 21,658,928,779.54 from CNY 21,113,503,890.67 in the previous quarter[32] - Long-term borrowings rose to CNY 3,508,956,676.27 from CNY 2,487,800,366.00, indicating increased leverage[32] - The total equity attributable to shareholders of the parent company was negative at CNY -2,056,866,478.60, compared to CNY -1,476,567,439.10 in the previous year[32] Research and Development - R&D investment has increased, focusing on innovations in folding, low power consumption, full-screen, ultra-thin, and high-quality display technologies[18] - Research and development expenses for the quarter were CNY 283,519,158.39, compared to CNY 245,322,423.26 in the same period last year, reflecting a focus on innovation[33] Product Development and Market Trends - The utilization rate of the Gu'an 6th generation flexible AMOLED production line has further improved, contributing to enhanced operational efficiency[17] - The company launched its first 1Hz low-power dynamic refresh rate AMOLED display, which is now in mass production for the Honor Magic 4 series[18] - The company's gross profit margin and cost management have significantly improved, indicating a positive trend in operational capability[19] - The penetration rate of AMOLED technology is continuously increasing, with terminal demand on a growth trajectory[19] - The company has established a partnership to set up a fund with a total commitment of RMB 250 million, with the company contributing RMB 49 million[29]

Financial Performance - The company's revenue for Q3 2021 reached ¥1,329,342,861.89, representing a 57.58% increase year-over-year[3] - The net profit attributable to shareholders was -¥379,041,995.31, a decrease of 217.84% compared to the same period last year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥383,900,900.68, down 141.00% year-over-year[3] - Total operating revenue for the third quarter reached ¥2,733,447,789.01, an increase of 36.1% compared to ¥2,008,660,302.89 in the same period last year[30] - The net loss for the quarter was ¥1,336,562,749.59, compared to a profit of ¥16,857,439.68 in the same quarter last year[31] - The total comprehensive loss attributable to shareholders was ¥1,122,527,821.81, compared to a loss of ¥26,763,506.54 in the previous year[31] Cash Flow - The operating cash flow for the year-to-date period was ¥975,327,193.52, showing a significant increase of 1,184.88%[3] - The net cash flow from operating activities was CNY 975.33 million, a remarkable increase of 1,184.88% year-on-year, primarily due to increased sales collections[8] - The net cash flow from operating activities for the current period is ¥975,327,193.52, a significant increase from ¥75,908,107.72 in the previous period, representing a growth of approximately 1,183%[34] - Total cash inflow from operating activities reached ¥4,285,550,542.05, compared to ¥2,265,950,721.49 in the previous period, indicating a year-over-year increase of about 89%[34] - Cash outflow from operating activities totaled ¥3,310,223,348.53, up from ¥2,190,042,613.77, reflecting an increase of approximately 51%[34] - The net cash flow from investment activities was -¥649,393,815.04, an improvement from -¥2,347,882,901.15 in the previous period, showing a reduction in losses by about 72%[34] Assets and Liabilities - Total assets at the end of the reporting period were ¥38,313,831,573.21, a decrease of 0.55% from the end of the previous year[3] - The company's total liabilities increased to ¥20,131,447,065.08, up from ¥19,041,903,223.32 year-over-year[28] - The total current liabilities increased to approximately ¥9.01 billion from ¥6.67 billion, reflecting a rise of about 35.06%[25] - The company's cash and cash equivalents decreased to approximately ¥2.84 billion from ¥3.47 billion, representing a decline of about 18.06% year-over-year[23] - The total assets of the company were reported at ¥38,313,831,573.21, slightly down from ¥38,524,849,342.06 in the previous year[28] Equity and Investments - Shareholders' equity attributable to the parent company was ¥14,105,313,500.22, down 7.15% from the end of the previous year[3] - The total equity attributable to shareholders decreased to ¥14,105,313,500.22 from ¥15,191,951,119.72 in the previous year[28] - The company’s investment income increased by 498.77% to CNY 48.28 million, attributed to higher returns from joint ventures[7] - The company’s long-term equity investments increased to approximately ¥3.02 billion from ¥2.38 billion, showing a growth of about 27.00%[25] Operational Highlights - The company reported a significant increase in accounts receivable, which rose by 229.91% to ¥1,639,930,848.39 due to increased sales during the reporting period[6] - Inventory increased by 78.47% to ¥928,986,217.83 as the company prepared for future sales[6] - The company recognized government subsidies amounting to ¥15,284,829.14 during the reporting period[4] - The company achieved a revenue of CNY 2.73 billion for the first three quarters of 2021, representing a year-on-year growth of 36.08%[12] - OLED product sales revenue reached CNY 2.62 billion, a significant increase of 94.61% compared to the same period last year[12] - The company reported a significant increase in contract liabilities, which rose to CNY 1.00 billion, marking a 600.31% increase due to the rise in advance payments received[7] Research and Development - Research and development expenses surged to CNY 718.56 million, reflecting a year-on-year increase of 139.94% as the company intensified its investment in display technology[12] - Research and development expenses surged to ¥718,557,777.98, a substantial increase of 140.0% compared to ¥299,472,041.55 in the previous year[30] Financing Activities - The company’s short-term borrowings increased by 42.09% to CNY 3.65 billion, primarily due to enhanced fundraising efforts[7] - Cash inflow from financing activities was ¥7,961,566,817.93, compared to ¥7,322,550,099.89 in the previous period, marking an increase of approximately 9%[34] - The cash outflow from financing activities increased to ¥9,009,678,584.01 from ¥5,773,236,566.92, representing a rise of about 56%[34] New Technologies and Production - The company launched new technologies, including a next-generation under-display camera solution and a 165Hz refresh rate AMOLED product, which were globally premiered and mass-produced[14] - The company’s production capacity continued to improve, with the 5.5-generation AMOLED production line and the 6th-generation flexible AMOLED production line achieving higher yield and operational efficiency[13]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥1,404,104,927.12, representing a 20.52% increase compared to ¥1,165,046,678.23 in the same period last year[27]. - The net profit attributable to shareholders of the listed company was -¥743,485,826.50, a decrease of 903.84% from a profit of ¥92,491,254.89 in the previous year[27]. - The net cash flow from operating activities was ¥1,414,950,942.33, showing a significant increase of 539.27% compared to -¥322,116,432.32 in the same period last year[27]. - The total assets at the end of the reporting period were ¥38,682,699,973.60, reflecting a 0.41% increase from ¥38,524,849,342.06 at the end of the previous year[27]. - The net assets attributable to shareholders of the listed company decreased by 4.74%, amounting to ¥14,471,409,207.03 compared to ¥15,191,951,119.72 at the end of the previous year[27]. - The basic earnings per share were -¥0.5436, a decline of 904.14% from ¥0.0676 in the same period last year[27]. - The diluted earnings per share were also -¥0.5436, reflecting the same decline as the basic earnings per share[27]. - The weighted average return on equity was -5.01%, down from 0.62% in the previous year[27]. - The company achieved operating revenue of 1.404 billion yuan, a year-on-year increase of 20.52%, with OLED product revenue reaching 1.329 billion yuan, up 83.85%[37]. - The company’s non-recurring gains totaled 106.47 million yuan, primarily from government subsidies and asset disposal gains[33]. Research and Development - Research and development investment reached ¥544,799,057.42, a significant increase of 98.62% from ¥274,291,138.29 in the previous year, reflecting the company's commitment to display technology research[56]. - The company has filed a total of 7,921 patents, including 6,268 invention patents, 1,422 utility model patents, and 231 design patents, with 454 new invention patents granted during the reporting period[46]. - The company is committed to increasing R&D efforts to cultivate new technologies and strengthen competitive advantages[87]. - The company aims to enhance its core competitiveness through continuous investment in technology and product innovation[42]. Market Position and Strategy - The company ranked fourth globally and second domestically in OLED smartphone panel shipments, with a 44% increase in shipments from Q1 to Q2 2021[40]. - The company is focusing on expanding into new markets such as automotive displays, IT, and AIOT, while solidifying its leading position in the AMOLED application field[41]. - The company is actively expanding its strategic customer base and diversifying its product structure, including developments in automotive, laptops, and AIoT sectors[52]. - The company plans to expand into emerging markets and enhance product application scenarios to increase market space[87]. - The company aims to strengthen cooperation with existing customers and actively introduce first-line brand clients[87]. Production and Technology - The company’s production capacity for the 5.5-generation AMOLED production line and the 6th-generation flexible AMOLED production line continues to be released, improving yield and operational efficiency[37]. - The company successfully achieved a global breakthrough in refresh rate technology with a maximum of 165Hz, leading to mass production and supply of terminal products[49]. - The company delivered the highest refresh rate 165Hz AMOLED smartphone screen, capable of adaptive switching between multiple frame rates[45]. - The company has completed the construction of a new project with an annual production capacity of 6 million AMOLED panels[126]. - The expansion project will increase the glass substrate processing capacity by 11,000 pieces per month, reaching a total capacity of 15,000 pieces per month, resulting in an annual production of 14.86 million AMOLED panels[126]. Environmental Compliance - Gu'an Yungu's total COD emissions were less than 80.567 tons, and ammonia nitrogen emissions were less than 8.057 tons, both meeting the discharge standards[108]. - The company has established a wastewater treatment station that includes systems for treating acidic, phosphorus-containing, fluorine-containing, and organic wastewater, ensuring stable compliance with discharge standards[120]. - The company utilizes a series of air pollution control facilities, including wet scrubbers and low-nitrogen combustion systems, to treat various types of waste gases, ensuring stable compliance with emission standards[120]. - The company has implemented a zero discharge policy for nitrogen and phosphorus from its wastewater treatment processes[120]. - The company has established emergency response plans for environmental incidents and has completed filing with relevant environmental protection authorities[127]. Governance and Management - The company experienced a change in its board of directors, with several members being elected on May 19, 2021, including the chairman and independent directors[95]. - The company’s sixth board of directors was established following the election of new members, with a focus on enhancing governance[95]. - The company’s management team saw significant changes, with multiple executives completing their terms on May 19, 2021[98]. - The company is committed to transparency, having publicly disclosed the names and positions of the initial grantees of the incentive plan[101]. - The company held a temporary shareholders' meeting on June 2, 2021, to discuss various resolutions, including the election of new board members[94]. Related Party Transactions - The company reported a significant related party transaction amounting to 751.92 million CNY for water supply, accounting for 95.50% of similar transaction amounts[144]. - The company engaged in a related party transaction for sewage treatment services valued at 376.61 million CNY, representing 69.27% of similar transaction amounts[147]. - The company disclosed a related party transaction for property leasing amounting to 713.44 million CNY, which accounted for 25.16% of the approved transaction amount[150]. - The company has committed to timely disclosures regarding related party transactions as per regulatory requirements[158]. Financial Liabilities and Guarantees - The company reported a guarantee amount of 1,334,900,000 CNY, with an actual guarantee amount of 887,118,820 CNY at the end of the reporting period[181]. - The actual guarantee amount for the reporting period totaled 182,408,540 CNY, against an approved guarantee amount of 80,000,000 CNY[181]. - The company has a guarantee of 630,000,000 CNY to Changcheng Xinsong Trust Co., Ltd., with an actual guarantee amount of 524,175,000 CNY[181]. - The total approved guarantee amount for the reporting period is CNY 1,226 million, with an actual guarantee amount of CNY 349.59 million[200]. - The total approved guarantee amount at the end of the reporting period is CNY 3,607.6 million, with an actual guarantee balance of CNY 1,341.38 million[200].

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 1,023,358,214.50, representing a 115.27% increase compared to CNY 475,382,455.39 in the same period last year[24]. - The net profit attributable to shareholders of the listed company reached CNY 83,308,271.85, a significant increase of 416.64% from CNY 16,125,069.24 in the previous year[24]. - The basic earnings per share for the period was CNY 0.0609, up 303.31% from CNY 0.0151 in the same period last year[24]. - The total assets at the end of the reporting period were CNY 36,899,874,146.17, showing a slight increase of 0.07% from CNY 36,873,499,188.67 at the end of the previous year[24]. - The net assets attributable to shareholders of the listed company were CNY 14,991,780,487.85, reflecting a 0.56% increase from CNY 14,908,472,216.00 at the end of the previous year[24]. - The net cash flow from operating activities was CNY -385,302,055.15, a decrease of 337.89% compared to CNY 161,963,996.93 in the same period last year[24]. - The company reported a net profit excluding non-recurring gains and losses of CNY -414,316,442.13, a slight deterioration of 4.77% from CNY -395,439,676.14 in the previous year[24]. - The weighted average return on net assets was 0.56%, an increase of 0.41% compared to 0.15% in the same period last year[24]. Research and Development - The company has developed the first flexible AMOLED screen for ZTE's Axon 10 Pro, reducing thickness by 30% compared to traditional flexible screens[34]. - Research and development expenses surged by 281.28% to ¥438,022,461.27 from ¥114,882,240.44, reflecting the company's focus on innovative applications in the smart terminal field[48]. - The company plans to continue expanding its research in display technology and increase R&D investments to support future growth[52]. - The company has filed for 3,071 invention patents, 85 utility model patents, and 70 design patents, indicating strong innovation capabilities[40]. Market and Industry Position - The global AMOLED panel sales are projected to reach USD 29 billion in 2019, with a market share increase from 22% to 31%[46]. - The company is expanding its market presence by collaborating with major brands like LG, Xiaomi, and Nubia for innovative product development[40]. - The company achieved a notable increase in other products and services revenue, which rose by 1,458.25% to ¥470,554,899.56, driven by high-margin licensing and service income from Hefei Visionox[57]. Financial Management and Investments - The company received government subsidies totaling RMB 722.21 million during the reporting period[30]. - The total investment amount for the reporting period was ¥4,311,217,054.59, a decrease of 54.73% compared to the same period last year, which was ¥9,523,502,854.80[70]. - The company made a significant equity investment of ¥1,600,000,000.00 in Langfang New Display Industry Fund, holding a 72.69% stake[70]. - The total amount of raised funds was ¥1,491,514,570.00, with ¥32,667,550.00 invested during the reporting period[80]. Environmental Compliance - The company has established a wastewater treatment station that includes systems for treating acidic, phosphorus-containing, fluorine-containing, and organic wastewater, ensuring compliance before discharge into the park's sewage network[162]. - The company has implemented a solid waste management system, with general industrial solid waste stored in a designated area and hazardous waste disposed of by qualified units[162]. - The company has constructed various pollution control facilities, including acid and alkaline wet scrubbers, to manage emissions effectively[162]. - The company has installed automatic monitoring systems for wastewater and waste gas emissions, ensuring compliance with national emission standards[166]. Corporate Governance - The company did not distribute cash dividends or issue bonus shares during the reporting period[107]. - The company held several shareholder meetings with investor participation rates ranging from 9.72% to 41.84%[107]. - The company has no significant litigation or arbitration matters during the reporting period[113]. - The company has not implemented any employee incentive plans during the reporting period[117]. Risk Management - The company emphasizes the importance of risk management and has detailed its potential risks and countermeasures in the report[6]. - The company faces macroeconomic risks, with domestic economic downward pressure increasing and consumer demand for electronic products being affected[102]. - The AMOLED supply chain has high technical barriers, with key materials and components primarily controlled by suppliers from the US, Japan, and South Korea, posing a risk of supply chain disruptions[102]. - The smartphone market has shifted from growth to saturation, leading to intensified competition and longer replacement cycles for consumers[103].