江苏雷科防务科技股份有限公司 2018 年第三季度报告正文 证券代码：002413 证券简称：雷科防务 公告编号：2018-117 江苏雷科防务科技股份有限公司 2018 年第三季度报告正文 1 江苏雷科防务科技股份有限公司 2018 年第三季度报告正文 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。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人戴斌、主管会计工作负责人刘峰及会计机构负责人(会计主管人 员)高立宁声明：保证季度报告中财务报表的真实、准确、完整。 2 江苏雷科防务科技股份有限公司 2018 年第三季度报告正文 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 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 4,495,707,989.70 | | 4,096,382,800.84 | 9.75% ...

Financial Performance - The company's operating revenue for the reporting period was ¥393,280,945.65, representing a 33.16% increase compared to ¥295,350,420.47 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was ¥67,944,268.85, up 34.64% from ¥50,464,306.50 year-on-year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥57,638,905.43, reflecting a 30.82% increase from ¥44,058,211.39 in the previous year[18]. - The company's total assets at the end of the reporting period reached ¥4,514,831,237.10, a 10.22% increase from ¥4,096,382,800.84 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company increased by 10.07% to ¥3,974,798,108.46 from ¥3,611,240,619.59 at the end of the previous year[18]. - The basic earnings per share rose to ¥0.06, a 20.00% increase compared to ¥0.05 in the same period last year[18]. - The company achieved total operating revenue of CNY 393.28 million, a year-on-year increase of 33.16%[49]. - Net profit attributable to shareholders reached CNY 67.94 million, reflecting a year-on-year growth of 34.64%[49]. - The company reported a net profit attributable to shareholders for the first nine months of 2018 expected to be between 76.08 million and 114.12 million RMB, representing a change of 0.00% to 50.00% compared to the same period in 2017[85]. - The main business of the company has been steadily developing, with the acquisition of Bohai Chuangye in August 2017 contributing positively to the company's performance[85]. Research and Development - The company is engaged in the research, development, manufacturing, and sales of radar systems, remote sensing control, satellite navigation, digital systems, simulation, and microwave components[26]. - The company has joined the Apollo hardware development platform, with its self-developed millimeter-wave automotive anti-collision radar being the first domestic product to join this platform[27]. - The company is currently advancing 13 satellite projects, with a certain SAR on-orbit real-time processor successfully launched and undergoing normal on-orbit testing, marking a significant milestone as the first domestic satellite-borne SAR real-time processing device[28]. - The company has developed core baseband processing chips and modules for the Beidou satellite navigation system, widely applied in military and specialized equipment, and has received multiple awards for its technological advancements[31]. - The company has established Suzhou University of Science and Technology Rayco Sensing Technology Co., Ltd. to strengthen its layout in the civil radar field[42]. - The company has a highly qualified R&D team of nearly 800 members, with over 50% holding master's or doctoral degrees, emphasizing its focus on talent development[43]. Operational Risks and Management - The company faces risks including operational management risk, business integration risk, and personnel turnover risk, with corresponding countermeasures outlined in the report[5]. - The company plans to enhance internal management systems and processes to adapt to rapid market changes following its restructuring efforts[82]. - The company faces operational management risks due to challenges in integrating new acquisitions into its existing structure[82]. - The company has implemented stock incentive plans to retain key technical personnel amid increasing competition for talent in the industry[84]. Investment and Financing Activities - The company's cash flow from financing activities surged by 721.63% to CNY 337.40 million, due to the implementation of the 2018 restricted stock incentive plan[53]. - The company’s investment activities generated a negative cash flow of CNY 646.98 million, primarily due to the purchase of financial products[53]. - The total amount of raised funds was ¥105,332.52 million, with ¥1,741.68 million invested during the reporting period[69]. - Cumulative investment of raised funds reached ¥103,018.13 million, indicating effective utilization of resources[69]. - The company has committed to several projects, with a total committed investment of ¥59,835.8 million, of which ¥1,741.68 million was invested during the reporting period[72]. - The company plans to repurchase shares with a total amount not less than RMB 100 million and not exceeding RMB 300 million, at a price not exceeding RMB 9.00 per share[126][127]. Shareholder and Equity Information - The company plans to distribute at least 10% of the annual distributable profits in cash dividends, with a cumulative distribution of no less than 30% of the average annual distributable profits over any three consecutive fiscal years[95]. - The company has committed to granting 61.968 million restricted stocks to 141 incentive targets at a price of 6.04 CNY per share, with an additional 5 million shares reserved[102]. - The company has made commitments to its minority shareholders regarding stock holdings and non-reduction of shares after the lifting of restrictions[95]. - The total number of ordinary shareholders was 54,554[142]. - Jiangsu Changfa Industrial Group Co., Ltd. held 16.51% of shares, amounting to 190,773,335 shares, with no changes during the reporting period[142]. - The company’s total number of shares increased by 52,894,000 after the stock incentive plan[140]. Legal and Compliance Matters - The company has not experienced any major litigation or arbitration matters during the reporting period[98]. - The company has not received any media inquiries or general doubts during the reporting period[99]. - The company was fined 1.4 million CNY by customs for misclassification of exported goods, which involved 1,662 tickets during the period from July 1, 2012, to July 2, 2014[100]. - The company guarantees that no improper benefits will be obtained through related party transactions, protecting the interests of minority shareholders[92]. - The company emphasizes its adherence to legal procedures in all related party transactions, reinforcing its commitment to corporate governance[92]. Cash Flow and Financial Position - The company's cash and cash equivalents decreased to ¥370,254,798.18 from ¥797,756,106.83, representing a decline of approximately 53.6%[156]. - Accounts receivable increased significantly to ¥834,182,329.36 from ¥611,065,010.04, marking an increase of about 36.6%[156]. - Inventory rose to ¥415,491,252.36 from ¥361,888,505.94, indicating an increase of approximately 14.8%[156]. - The company reported a decrease in notes receivable from ¥144,768,613.52 to ¥74,692,199.52, a decline of about 48.3%[156]. - The total cash inflow from investment activities was 665,306,652.14 yuan, while cash outflow was 1,284,508,766.00 yuan, resulting in a net cash flow from investment activities of -619,202,113.86 yuan[177]. - The net cash flow from financing activities was 283,784,538.02 yuan, significantly higher than 22,158,916.09 yuan in the previous period, reflecting increased financing efforts[177].

Financial Performance - Revenue for Q1 2018 was CNY 127,908,800.96, an increase of 8.49% compared to CNY 117,898,838.99 in the same period last year[8] - Net profit attributable to shareholders was CNY 27,758,625.81, reflecting a growth of 3.60% from CNY 26,794,032.94 year-on-year[8] - Net profit excluding non-recurring gains and losses reached CNY 27,253,585.35, up 15.50% from CNY 23,597,073.13 in the previous year[8] - Basic and diluted earnings per share increased by 50.00% to CNY 0.03 from CNY 0.02 in the same quarter last year[8] - The net cash flow from operating activities improved to -CNY 59,769,236.88, a 31.24% reduction in losses compared to -CNY 86,928,327.85 last year[8] - The company reported a 40.26% increase in income tax expenses to ¥6.73 million due to a rise in total profit[16] - Financial expenses increased by 114.58% to ¥290.67 thousand, primarily due to a decrease in interest income from financial products[16] - The net profit attributable to shareholders for the first half of 2018 is expected to range from 5,046.43 million to 7,569.45 million, representing a change of 0.00% to 50.00% compared to the same period in 2017[30] - The positive performance in the first half of 2018 is attributed to the good development of the company's business and the contribution from Suzhou Bohai Chuangye Micro System Co., Ltd., which was included in the consolidated financial statements starting August 2017[30] - The expected net profit for the first half of 2018 is not classified as a turnaround situation, indicating stable operational performance[30] Assets and Shareholder Information - Total assets at the end of the reporting period were CNY 4,171,797,481.89, a 1.84% increase from CNY 4,096,382,800.84 at the end of the previous year[8] - Net assets attributable to shareholders rose to CNY 3,634,994,118.17, marking a 0.66% increase from CNY 3,611,240,619.59[8] - The total number of ordinary shareholders at the end of the reporting period was 47,726[12] - The largest shareholder, Jiangsu Changfa Industrial Group Co., Ltd., held 17.30% of the shares, totaling 190,773,335 shares[12] Cash Flow and Financial Management - Cash and cash equivalents decreased by 67.37% to ¥260.31 million due to the purchase of financial products worth ¥410 million[16] - Other receivables increased by 1160.68% to ¥125.31 million primarily due to transactions with subsidiaries[16] - Other current assets surged by 1778.82% to ¥426.27 million, mainly from an increase in financial products by ¥410 million[16] - Prepayments rose by 42.34% to ¥46.43 million as a result of increased payments to suppliers[16] - The net cash flow from operating activities improved by 31.24% to -¥59.77 million, attributed to the consolidation of the subsidiary Suzhou Bohai[16] Shareholder Commitments and Performance Targets - The cumulative net profit commitment for the years 2015, 2016, and 2017 is set at 236.23 million CNY, with individual annual targets of 61.93 million CNY, 77.96 million CNY, and 96.34 million CNY respectively[25] - The company has a share lock-up commitment where one-third of the total shares purchased will be unlocked each year based on performance from 2016 to 2018[24] - If the cumulative net profit for 2018 is below 128 million CNY, the remaining shares will not be unlocked, and compensation will be calculated based on the formula provided[24] - The company is currently in the process of fulfilling its commitments related to share lock-up and performance targets[25] - The performance commitment period is set for three years, with ongoing compliance being monitored[25] - The company has established a performance compensation principle for any shortfall in actual net profit compared to the forecasted figures during the commitment period[25] - The company is actively managing its commitments to ensure compliance with performance targets and shareholder agreements[25] - The company has outlined specific conditions under which shares will be unlocked based on financial performance during the commitment period[24] Related Party Transactions and Compliance - Jiangsu Leike Defense Technology Co., Ltd. reported a commitment to avoid any improper benefits through related transactions, ensuring compliance with legal and regulatory requirements[26] - The company emphasized that any related transactions with its subsidiaries will adhere to market principles, ensuring fairness and mutual benefit[26] - The company is committed to ensuring that no related transactions harm the legitimate rights and interests of the listed company and its minority shareholders[26] - The company will execute related transactions only after approval from the competent authority[26] - There are no instances of non-operating fund occupation by controlling shareholders or their affiliates during the reporting period[32] - The company has no violations regarding external guarantees during the reporting period[31] Investor Relations and Communication - The company has engaged in multiple communication activities with investors, including phone calls throughout January to March 2018[34] - The company has maintained its commitment to cash dividends, ensuring that conditions for distribution are met[29] - The company has committed to distributing no less than 10% of the annual distributable profit as cash dividends, with a cumulative distribution of at least 30% of the average annual distributable profit over any three consecutive years[29] - The company has established a priority purchase right for its main business-related assets in case of any sales or transfers[28] - The company is committed to ensuring that any business opportunities that may compete with its main business are reported and transferred to the company[28] Corporate Actions - The company plans to acquire 100% equity of Changshu Beili New Materials Technology Co., Ltd., with due diligence currently underway[17] - The company approved a stock incentive plan to grant 66.968 million restricted shares, representing 6.07% of the total share capital[20] - The company repurchased and canceled 97,000 restricted shares due to the departure of certain incentive recipients, affecting 0.0088% of total share capital[21] - The shares obtained through subscription will be restricted from transfer for 36 months from the date of listing[27] - The company guarantees that it will not engage in any business that competes with Leike Defense's main business through direct or indirect means[27] - The company will bear full cash compensation for any losses caused to Leike Defense due to non-fulfillment of commitments[27]

Financial Performance - The company's operating revenue for 2017 was CNY 767,180,576.40, representing a 44.61% increase compared to CNY 530,528,699.72 in 2016[19] - The net profit attributable to shareholders for 2017 was CNY 122,562,582.97, a 16.38% increase from CNY 105,312,808.27 in 2016[19] - The net profit after deducting non-recurring gains and losses was CNY 112,062,069.67, up 16.35% from CNY 96,312,108.45 in 2016[19] - The basic earnings per share for 2017 was CNY 0.11, a 10.00% increase from CNY 0.10 in 2016[19] - The total assets at the end of 2017 were CNY 4,096,382,800.84, a 9.74% increase from CNY 3,732,686,723.21 at the end of 2016[19] - The net assets attributable to shareholders at the end of 2017 were CNY 3,611,240,619.59, a 4.39% increase from CNY 3,459,242,456.37 at the end of 2016[19] - The company reported a net cash flow from operating activities of CNY -159,798,704.68, an improvement of 17.51% from CNY -193,725,621.69 in 2016[19] - The weighted average return on net assets for 2017 was 3.47%, a decrease of 0.42% from 3.89% in 2016[19] Revenue and Profit Growth - Total revenue for the fourth quarter reached ¥315,127,623.61, marking a significant increase compared to previous quarters[23] - Net profit attributable to shareholders for the fourth quarter was ¥46,484,792.69, reflecting strong performance in the reporting period[23] - The company achieved over ¥2 billion in total output value from multiple satellite projects, with ¥50 million generated in 2017 alone[32] - The embedded real-time information processing business generated revenue of 243.86 million yuan, accounting for 31.79% of total revenue, with a growth of 24.64%[51] - The storage products segment saw a significant increase in revenue to 164.80 million yuan, up 569.03% year-on-year[52] Research and Development - The company has undergone significant business transformation, focusing on military electronic information industries since 2015[16] - The company has received over 100 million yuan in funding for 22 major national scientific research projects, indicating robust R&D investment[41] - The company has established a high-quality R&D team of over 700 members, with more than 40% holding doctoral or master's degrees[44] - The company’s SSD control chip was successfully developed and applied in military electronic disks, marking a significant milestone in its product offerings[38] - The company has developed high-precision positioning systems for agricultural applications, which have begun small-scale delivery to the market[33] Cash Dividends and Profit Distribution - The company plans to distribute a cash dividend of CNY 0.30 per 10 shares to all shareholders[5] - The company distributed cash dividends of RMB 33,076,384.02 for the year 2017, which represents 26.99% of the net profit attributable to shareholders[109] - The total distributable profit for the year 2017 is RMB 503,415,604.00, with cash dividends constituting 100% of the profit distribution[109] - The cash dividend distribution for 2017 is subject to approval at the company's annual general meeting[109] - The company has maintained a consistent cash dividend distribution strategy over the past three years[109] Corporate Governance and Compliance - The company has established a comprehensive corporate governance structure to protect the rights of shareholders and creditors[152] - The company emphasizes employee rights and has implemented OHSAS18001 certification for occupational health and safety management[153] - The company adheres to environmental protection standards and has implemented ISO14001 environmental management system[155] - The company has committed to avoiding and reducing related party transactions with controlled or influenced enterprises, ensuring transactions with independent third parties are conducted fairly[114] - The company has established a lock-up period for shares acquired through a directed issuance, lasting 36 months from the completion date of the issuance[112] Strategic Initiatives and Market Position - The company aims to integrate resources and strengthen its main business while expanding both military and civilian markets[93] - The company plans to become an industry leader by promoting military-civilian integration and mutual development[93] - The company intends to expand its geographical presence to reduce costs and improve production efficiency, with plans to enhance R&D bases in multiple cities[96] - The company aims to leverage the Beidou navigation system in international markets, particularly in strategic development areas[96] - The company is focused on maintaining transparency and legality in its governance practices regarding related party transactions[114] Acquisitions and Investments - The company completed the acquisition of 100% equity in Xi'an Qingshi and 18.16% equity in Bohai Chuangye, enhancing its asset portfolio[39] - The company intends to acquire 100% equity of Changshu Beili New Materials Technology Co., Ltd. from Beijing Institute of Technology Science Park and Changshu High-tech Venture Capital for cash[161] - The company plans to acquire 51.16% equity of Bohai Chuangye through a cash transaction of RMB 127.9 million, which includes acquiring 100% equity of Xi'an Qingshi and 18.16% equity of Bohai Chuangye[163] Shareholder Structure and Management Changes - The company has no controlling shareholder, with shareholding dispersed and no single shareholder holding over 50%[181] - The company has appointed new deputy general managers as of March 8, 2017, indicating a shift in management structure[192] - The company’s board of directors has seen a resignation, with Mr. Tan Naicheng stepping down for personal reasons on December 22, 2017[192] - The company has a board of directors consisting of 8 members, including 3 independent directors[193] - The current chairman, Dai Bin, holds multiple positions in various subsidiaries and organizations related to the company[193]

Financial Performance - Total assets increased by 7.57% to CNY 4,015,283,355.50 compared to the end of the previous year[8] - Operating revenue for the period reached CNY 156,702,532.32, a year-on-year increase of 22.85%[8] - Net profit attributable to shareholders was CNY 25,613,483.79, reflecting a growth of 24.28% year-on-year[8] - The net profit after deducting non-recurring gains and losses was CNY 23,841,396.63, up by 22.56% compared to the same period last year[8] - The net cash flow from operating activities was negative at CNY -107,133,045.91, a decrease of 14.18% year-on-year[8] - Basic earnings per share remained at CNY 0.02, unchanged from the previous period[8] - The weighted average return on net assets was 0.73%, a decrease of 0.03% compared to the previous year[8] Shareholder Information - The total number of shareholders at the end of the reporting period was 53,583[12] - The largest shareholder, Jiangsu Changfa Industrial Group Co., Ltd., held 26.37% of the shares[12] Non-Recurring Gains and Losses - The company reported a total of CNY 8,178,182.27 in non-recurring gains and losses for the year-to-date[9] Business Growth and Acquisitions - The company's operating revenue for the current period reached ¥452,052,952.79, a 52.77% increase compared to ¥295,911,912.31 in the same period last year, primarily due to business growth and the consolidation of subsidiaries Qiwitech and Bohai Chuangye[18] - The company acquired 100% of Xi'an Qingshi Integrated Micro System Co., Ltd. and 18.16% of Suzhou Bohai Chuangye Micro System Co., Ltd. for ¥127,900,000, enhancing its stake in Bohai Chuangye to 51.16%[21] Cash Flow and Financial Position - The net cash flow from operating activities was -¥242,728,730.04, a 30.44% decline from -¥186,079,266.39 in the previous year, mainly due to business growth and the consolidation of subsidiaries[19] - The company’s cash and cash equivalents decreased by 69.17% to ¥88,324,648.02, primarily due to payments for military industry fund investments and acquisitions[17] - Inventory increased by 83.11% to ¥397,758,337.93, driven by business growth and the consolidation of Bohai Chuangye[17] - The company reported a 244.02% increase in accounts payable, reaching ¥209,009,934.65, attributed to business growth and the consolidation of Bohai Chuangye[17] Stock Incentive Plan - The company completed a restricted stock incentive plan, granting 9,464,000 shares at a price of ¥6.04 per share to 383 participants[22] - The registered capital increased from ¥1,093,179,134 to ¥1,102,643,134 following the implementation of the stock incentive plan[23] Share Transfers and Holdings - The first major shareholder transferred 10,000,000 shares, representing 9.07% of the total share capital, to Guizhou Waitan Security Equipment Co., Ltd.[24] - The company plans to reduce the holdings of its director and vice president by up to 2,270,790 shares, not exceeding 0.21% of the total share capital[25] Performance Commitments - The cumulative net profit commitment for the three-year performance period (2015-2017) is set at CNY 236.23 million, with annual targets of CNY 61.93 million, CNY 77.96 million, and CNY 96.34 million respectively[29] - If the cumulative net profit falls below CNY 128 million by the end of 2018, compensation will be calculated based on the formula CNY 460 million ÷ CNY 128 million × (CNY 128 million - actual cumulative net profit) in cash[28] - The actual controller and shareholders have commitments regarding the lock-up of shares, with a three-year lock-up period for shares acquired during the acquisition process[28] - The company is currently in the process of fulfilling its commitments related to share lock-up and performance guarantees[28] - The company plans to unlock one-third of the total shares purchased each year based on performance achievements[28] - The performance commitment is linked to the operational cumulative performance of the company during the commitment period[28] - The company has made commitments regarding the transfer of shares acquired through a directed issuance, ensuring compliance with the agreed terms[29] - The company is actively monitoring its performance against the set financial targets to ensure compliance with the commitments made[29] - The performance commitments are subject to annual audits to verify the achievement of the specified financial metrics[29] - The company has outlined specific conditions under which the locked shares may be released, contingent on meeting performance targets[28] Compliance and Related Party Transactions - The company reported a net profit that did not meet the cumulative three-year forecast, leading to compensation obligations[30] - The company will avoid and minimize related party transactions with its subsidiaries, ensuring independent third-party dealings[30] - The company guarantees not to obtain any improper benefits through related party transactions[31] - The company will not engage in similar business activities as its subsidiaries, ensuring no competition arises[31] - The company has a performance compensation obligation for the years 2016, 2017, and 2018, with specific net profit thresholds to be met[31] - The company will notify its subsidiaries of any competitive business opportunities obtained from third parties[31] - The company has committed to full cash compensation for any losses caused by non-compliance with its commitments[31] - The company has a lock-up period for shares obtained through subscription, lasting 36 months from the listing date[31] - The company will ensure that related party transactions are conducted fairly and legally, protecting the interests of minority shareholders[30] - The company will avoid any financial occupation of funds from its subsidiaries[30] Future Projections - The net profit attributable to shareholders for 2017 is expected to range from 115.84 million to 157.97 million RMB, representing a growth of 10% to 50% compared to 2016's net profit of 105.31 million RMB[35] - The company's main business is steadily developing, with contributions from the consolidation of Qiwitech in July 2016 and Suzhou Bohai in August 2017[35] Compliance and Governance - There are no violations regarding external guarantees during the reporting period[36] - The company has no non-operating fund occupation by controlling shareholders or their affiliates during the reporting period[37] Dividend Policy - The company commits to distribute at least 10% of the annual distributable profit as cash dividends, with a cumulative distribution of no less than 30% of the average annual distributable profit over any three consecutive fiscal years[34] - The company has fulfilled its commitment regarding cash dividends on time[34] Business Operations - The company will not engage in any business that competes with its main operations directly or indirectly[33] - The company has a commitment to prioritize the purchase rights of its main business assets if sold or transferred[33] - The company has a lock-up period for shares acquired through subscription, which lasts for 12 months from the listing date[33] Investor Relations - The company conducted on-site research and communication activities with institutional investors on July 17, 2017, and September 6, 2017[38] - The investor relations activities were recorded on the investor relations interactive platform for both dates[38] - The legal representative of the company is Dai Bin[38] - The report was documented on October 30, 2017[38]

Financial Performance - The company's operating revenue for the first half of 2017 was ¥295,350,420.47, representing a 75.43% increase compared to ¥168,360,180.49 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was ¥50,464,306.50, up 15.72% from ¥43,607,399.61 year-on-year[19]. - The net profit after deducting non-recurring gains and losses was ¥44,058,211.39, a 3.28% increase from ¥42,658,240.65 in the previous year[19]. - The total profit reached 60.09 million yuan, an increase of 11.43% compared to the previous year[44]. - The company reported a net profit for the first half of 2017 of CNY 50,981,490.99, representing a 9.5% increase from CNY 46,571,342.04 in the previous year[160]. - The company reported a gross profit of CNY 150,630,610.74, resulting in a gross margin of approximately 51%[159]. - The company expects a net profit attributable to shareholders for the period from January to September 2017 to range between CNY 64.22 million and CNY 96.32 million, representing a change of 0.00% to 50.00% compared to the same period in 2016[83]. Cash Flow and Investments - The net cash flow from operating activities was -¥135,595,684.13, a decline of 121.42% compared to -¥61,238,203.19 in the same period last year[19]. - The net cash flow from investment activities improved to ¥5,669,118.33 from -¥409,390,721.04, a 101.38% increase, due to the purchase and redemption of financial products[52]. - The net cash flow from financing activities was ¥41,065,118.01, a 125.76% increase compared to -¥159,416,086.31, primarily due to the use of bank credit by the subsidiary[52]. - The company reported a significant increase in prepayments, which rose to CNY 63,060,161.52 from CNY 31,928,983.59, an increase of approximately 97.5%[150]. - The cash flow from operating activities showed a total inflow of 177,584,282.10 CNY, compared to 186,049,490.15 CNY in the previous period, indicating a slight decrease in operational revenue[167]. - The total cash inflow from investment activities was 357,010,501.38 CNY, up from 330,000,000.00 CNY in the previous period, reflecting increased investment returns[168]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,847,210,553.29, an increase of 3.07% from ¥3,732,686,723.21 at the end of the previous year[19]. - Total liabilities increased to CNY 332,893,273.42 from CNY 236,555,560.31, reflecting a growth of approximately 40.66%[152]. - The company's equity attributable to shareholders rose to CNY 3,476,911,388.85 from CNY 3,459,242,456.37, showing a slight increase of about 0.51%[153]. - The total amount of undistributed profits at the end of the period is 420,795,532.03 CNY, which is a key indicator of retained earnings for future investments[191]. Strategic Initiatives - The company plans not to distribute cash dividends or issue bonus shares[7]. - The company is committed to expanding its market presence through continuous technological innovation and strategic acquisitions[46]. - The company has implemented a stock incentive plan to mitigate the risk of talent loss, crucial for maintaining its R&D capabilities[86]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[160]. - The company aims to maintain a strong financial position while exploring opportunities for mergers and acquisitions to further enhance its growth trajectory[194]. Research and Development - The company has a strong R&D team of over 600 personnel, with more than 30% holding doctoral or master's degrees[40]. - The company has developed core technologies in embedded real-time information processing and radar fields, filling several domestic technological gaps[36]. - The company has allocated 10% of its revenue for R&D in 2017, focusing on advanced technology integration[96]. Shareholder and Equity Information - The company issued 61,379,310 shares at ¥14.5 per share, raising ¥889,999,995, with a net amount of ¥86,364.10 million after expenses[70]. - The company has committed to distributing no less than 10% of the annual distributable profit as cash dividends to minority shareholders[98]. - The total number of incentive objects was adjusted from 460 to 403 due to personal reasons and resignations, resulting in a reduction of the total granted shares from 10 million to 9.871 million[107]. - The company reported a total guarantee amount of 100,000,000 CNY during the reporting period, with an actual guarantee amount of 10,800,000 CNY[120]. Risks and Compliance - The company is facing operational management risks due to challenges from mergers and acquisitions, which may impact strategic planning and internal controls[84]. - The company has committed to not using its funds or those of its subsidiaries for unauthorized purposes, ensuring financial integrity[94]. - The company will ensure that any related party transactions are conducted at arm's length and will comply with legal disclosure obligations to protect the interests of minority shareholders[94].

Financial Performance - The company's operating revenue for Q1 2017 was ¥117,898,838.99, representing a 56.23% increase compared to ¥75,467,237.23 in the same period last year[8] - Net profit attributable to shareholders was ¥26,794,032.94, up 22.22% from ¥21,922,754.22 year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥23,597,073.13, reflecting a 10.26% increase from ¥21,401,207.13 in the previous year[8] - Basic and diluted earnings per share decreased by 71.43% to ¥0.02 from ¥0.07 year-on-year[8] - The company reported a substantial increase in non-operating income, which reached ¥2,914,152.86, up 262.10% from ¥804,796.12, primarily due to tax refunds received[17] - The net profit forecast for the fiscal years 2015, 2016, and 2017 is projected to be CNY 61.93 million, CNY 77.96 million, and CNY 96.34 million respectively, with a cumulative commitment of CNY 236.23 million[28] - The net profit attributable to shareholders for the first half of 2017 is expected to be between 43.61 million and 65.41 million RMB, representing a change of 0.00% to 50.00% compared to the same period in 2016[35] - The company reported a positive net profit for the first half of 2017, indicating no turnaround situation[35] Cash Flow - The net cash flow from operating activities was -¥86,928,327.85, a decline of 38.03% compared to -¥62,978,938.06 in the same period last year[8] - The net cash flow from operating activities was -¥86,928,327.85, worsening by 38.03% from -¥62,978,938.06 in the previous year, mainly due to the consolidation of Qiwitech[18] - The net cash flow from investing activities improved significantly to ¥294,973.42 from -¥543,459,693.16, a 100.05% change, due to the purchase and redemption of financial products by the parent company[18] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,737,569,813.17, a slight increase of 0.13% from ¥3,732,686,723.21 at the end of the previous year[8] - The net assets attributable to shareholders increased by 0.77% to ¥3,486,036,489.31 from ¥3,459,242,456.37 at the end of the previous year[8] - Tax payable decreased by 49.78% to ¥19,301,956.26, primarily due to tax payments made by subsidiaries[16] Operational Costs - Operating costs rose to ¥53,129,990.54 from ¥35,690,469.60, reflecting a 48.86% increase, primarily attributed to the inclusion of Qiwitech in the consolidated financial statements[17] - Sales expenses increased by 172.39% to ¥3,459,291.43 compared to ¥1,269,960.17 in the previous year, again due to the consolidation of Qiwitech[17] - Management expenses surged by 179.08% to ¥30,549,223.27 from ¥10,946,306.61, driven by the full-scale investment in R&D projects at the subsidiary Radar Technology Research Institute[17] Investments and Acquisitions - The company plans to acquire a 51.16% stake in Suzhou Bohai Entrepreneurship Micro System Co., Ltd., with ongoing work related to this acquisition[23] - The company has engaged in various financial investments, including purchasing bank wealth management products totaling ¥55 million, with returns reported[21][22] Performance Commitments and Related Transactions - The company has committed to avoiding and reducing related party transactions with its controlling or influenced enterprises, ensuring compliance with market principles and legal regulations[29] - The performance commitment arrangement includes a cumulative compensation principle, where if the actual net profit does not meet the cumulative forecast, the company will compensate based on the corresponding number of shares[28] - The company will not transfer shares obtained from the directed issuance for 36 months following the completion of the issuance[27] - The performance commitment period is set for three years, ending in 2018, with specific financial targets to be met[28] - The company has established a clear framework for handling related party transactions, ensuring transparency and fairness in dealings[29] - The company is committed to fulfilling its obligations under the performance commitment and will take necessary actions if targets are not met[28] - The company will adhere to legal procedures and governance systems in disclosing information related to related party transactions[29] - The company reported a commitment to not engage in any similar business activities as its main operations, ensuring no direct or indirect competition with its subsidiaries[30] - The company has a share transfer restriction for shares acquired through subscription from Qiwitech, which cannot be transferred within 36 months from the date of listing[31] - If Qiwitech's cumulative actual net profit from 2016 to 2019 does not meet the promised net profit, the remaining shares obtained by the company will be unlocked 48 months after the shares are listed[31] - The company is currently fulfilling its performance compensation obligations for the years 2016, 2017, and 2018[31] - The company has made commitments regarding related transactions and fund occupation, ensuring compliance with regulations[32] - The company will not engage in any business activities that could compete with LeiKe Defense, Qiwitech, or its other subsidiaries[32] - The company has a 12-month lock-up period for shares subscribed by various fund management companies from the date of listing[32] - The company is committed to notifying LeiKe Defense of any competitive business opportunities obtained from third parties[32] - The company will bear full cash compensation for any losses caused by non-compliance with its commitments[32] - The company is actively managing its competitive landscape to protect its core business interests[32] Governance and Compliance - There are no violations regarding external guarantees during the reporting period[36] - The company has not engaged in any non-operating fund occupation by controlling shareholders or their affiliates during the reporting period[36] - The company has committed to distributing no less than 10% of the distributable profits as cash dividends when conditions are met[34] - The cumulative cash distribution over any three consecutive fiscal years should not be less than 30% of the average annual distributable profits for those years[34] - The company has ensured that all commitments made are independently enforceable[34] - The company has received approval from its governing bodies for the commitments made[34] Business Development - The company has maintained good business development, with contributions to profit from the consolidation of Qiwei Technology starting in July 2016[37] - The company has not conducted any research, communication, or interview activities during the reporting period[36]

Financial Performance - The company's operating revenue for 2016 was ¥530,528,699.72, a decrease of 73.85% compared to ¥2,028,542,901.46 in 2015[20] - The net profit attributable to shareholders for 2016 was ¥105,312,808.27, down 25.07% from ¥140,553,234.23 in 2015[20] - The net profit after deducting non-recurring gains and losses was ¥96,312,108.45, an increase of 10.92% from ¥86,832,313.92 in 2015[20] - The net cash flow from operating activities was -¥193,725,621.69, worsening by 35.96% compared to -¥142,484,257.29 in 2015[20] - The basic earnings per share for 2016 were ¥0.1, a decrease of 41.18% from ¥0.17 in 2015[20] - The diluted earnings per share for 2016 were also ¥0.1, reflecting the same decline of 41.18% from ¥0.17 in 2015[20] - The weighted average return on equity for 2016 was 3.89%, down from 8.43% in 2015[20] - Total revenue for the fourth quarter reached ¥234,616,787.41, showing a significant increase compared to previous quarters[24] - Net profit attributable to shareholders for the fourth quarter was ¥41,096,561.34, reflecting a strong performance[24] - The company reported a net cash flow from operating activities of -¥7,646,355.30 in the fourth quarter, indicating challenges in cash generation[24] Assets and Investments - The total assets at the end of 2016 were ¥3,732,686,723.21, a 59.27% increase from ¥2,343,610,799.90 at the end of 2015[20] - The net assets attributable to shareholders at the end of 2016 were ¥3,459,242,456.37, up 62.68% from ¥2,126,366,438.66 at the end of 2015[20] - The company reported a significant decrease in cash and cash equivalents, with a net decrease of -¥424.81 million, compared to an increase of ¥665.06 million in the previous year[70] - The company reported a significant increase in accounts receivable, which rose to CNY 446,675,381.99, representing 11.97% of total assets, up from 7.79% in the previous year[75] - The company’s inventory increased to CNY 217,218,083.03, accounting for 5.82% of total assets, up from 3.62% in the previous year[75] Research and Development - The company has developed advanced radar products, including wall-penetrating radar and phased array radar, applicable in various fields such as defense and disaster monitoring[31] - The company has made significant investments in R&D for satellite navigation technology, resulting in the development of core baseband processing chips and modules[34] - Research and development investment increased by 186.63% to ¥55.84 million in 2016, accounting for 10.53% of operating revenue, up from 0.96% in 2015[67] - The company has established a research team of over 600 high-quality talents, with more than 30% holding doctoral and master's degrees[45] - The company has developed a new generation of multi-mode, multi-frequency high-performance baseband signal processing chips for Beidou satellite navigation, which have been successfully applied[49] Acquisitions and Business Expansion - The company completed the acquisition of 70% of Aikete and 100% of Qiwitech, expanding its business into military electronic information sectors[29] - The company successfully completed the acquisition of Chengdu Aikete and Qiwei Technology, enhancing its capabilities in system-level product offerings[49] - The company completed the acquisition of 70% of Chengdu Aikete's shares and 100% of Qiwitech's shares, which were included in the consolidated financial statements starting from February and July 2016, respectively[60] - A cash acquisition of 51.16% stake in Suzhou Bohai Chuangye Micro System Co. is planned to expand the main business effectively[100] - The company has a strong focus on expanding its military electronic information industry, aiming to consolidate its competitive advantage[29] Shareholder Returns and Dividends - The company plans to distribute a cash dividend of ¥0.30 per 10 shares to all shareholders based on the total share capital as of December 31, 2016[6] - The total cash dividend amount for 2016 is projected to be RMB 32,795,374.02, which represents 100% of the profit distribution total[115] - The company emphasizes a commitment to shareholder returns while ensuring sustainable development[110] - The company has established a three-year shareholder return plan for 2015-2017, detailing profit distribution principles and conditions[110] - The company has committed to distributing no less than 10% of the annual distributable profits in cash dividends when conditions are met[126] Financial Management and Compliance - The company has committed to avoid any financial transactions that could harm the interests of shareholders, ensuring all related party transactions are conducted at market rates[119] - The company emphasizes compliance with legal and regulatory requirements in all related party transactions to protect shareholder interests[119] - The company has outlined specific measures to avoid conflicts of interest in transactions involving related parties[119] - The company has maintained its accounting policies and estimates without changes during the reporting period[129] - The company reported no significant accounting errors that required retrospective restatement during the reporting period[130] Governance and Management Changes - The company plans to implement a restricted stock incentive plan to improve governance and motivate management and key personnel[97] - The company’s board of directors underwent changes, with new appointments including a new financial director[174] - The company is focusing on enhancing its governance structure with new appointments in the supervisory board[200] - The overall shareholding structure reflects a stable management team committed to the company's growth and development[200] - The company’s management changes included the departure of several board members, which may impact future strategic directions[199] Market Position and Strategy - Future strategies include resource integration and collaboration among subsidiaries to launch higher-level system products[98] - The company aims to strengthen external cooperation with military industrial groups to leverage core advantages for mutual benefits[99] - The company has outlined a plan for potential market expansion and strategic partnerships to enhance its competitive position[120] - The company is committed to notifying Leike Defense of any competitive business opportunities obtained from third parties[120] - The performance compensation obligations are tied to specific financial metrics, ensuring accountability and alignment with shareholder interests[121]

Financial Performance - Total assets increased by 56.51% to CNY 3,668,080,746 compared to the end of the previous year[6] - Net assets attributable to shareholders increased by 60.75% to CNY 3,418,145,895[6] - Operating revenue decreased by 71.42% to CNY 127,551,732 compared to the same period last year[6] - Net profit attributable to shareholders decreased by 5.06% to CNY 20,608,847[6] - Basic earnings per share decreased by 71.43% to CNY 0.02[6] - Cash flow from operating activities showed a negative net amount of CNY -186,079,266, a decrease of 456.63%[6] - Weighted average return on equity was 0.70%, down by 0.37%[6] - Operating revenue decreased by 80.61% to ¥295.91 million, reflecting the transition from traditional refrigeration business to military-related operations[16] - Operating costs fell by 89.63% to ¥138.67 million, consistent with the decline in revenue as the company shifted its business model[16] - Net cash flow from operating activities was negative at ¥186.08 million, a decrease of 456.63% compared to the previous year, due to reduced cash receipts from sales[19] - Net cash flow from investing activities was negative at ¥1.02 billion, an increase of 422.61%, primarily due to significant cash outflows for acquisitions[19] - Net cash flow from financing activities increased by 316.32% to ¥645.18 million, driven by higher cash inflows from investments[19] - The net profit attributable to shareholders for 2016 is expected to range from 91.36 million to 140.55 million RMB, representing a decrease of 35% to 0% compared to 2015[36] - The company’s financial performance is impacted by the absence of significant one-time gains that were present in the previous year[36] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 65,618[10] - The largest shareholder, Jiangsu Changfa Industrial Group Co., Ltd., held 26.60% of shares[10] - The company has committed to distributing at least 10% of its distributable profits as cash dividends over any three consecutive fiscal years, with a minimum of 30% of the average annual distributable profits during that period[35] - The company has ongoing commitments related to shareholding and dividend distribution, ensuring alignment with shareholder interests[35] Acquisitions and Investments - Cash and cash equivalents decreased by 75.79% to ¥173.70 million due to the acquisition of 70% of Chengdu Aikete and cash dividends paid totaling ¥174.52 million[15] - Accounts receivable increased by 127.45% to ¥415.18 million, primarily due to a shift in business focus to military electronic information, resulting in concentrated payments in Q4[15] - Inventory rose by 124.97% to ¥190.73 million, attributed to the acquisitions of Chengdu Aikete and Xi'an Qicheng, which were consolidated into the financial statements[15] - Goodwill increased by 164.92% to ¥1.64 billion, resulting from the acquisitions of Chengdu Aikete and Xi'an Qicheng[15] - The company authorized the use of up to ¥260 million of idle funds for purchasing low-risk bank financial products, with ongoing investments in various financial products[20] - The company used RMB 19,999 million of idle raised funds to purchase a bank wealth management product from China Construction Bank, which has not been redeemed as of the report date[21] - An additional RMB 10,000 million was invested in a bank wealth management product from Beijing Bank, set to mature on December 29, 2016[23] - The company has a priority right to purchase any assets or businesses related to its operations if its controlled enterprises decide to sell[34] Management Changes - The company appointed a new chairman and legal representative, Dai Bin, after the resignation of the previous chairman, Huang Xiaoping[25] - The company’s financial director, Jiang Junjie, resigned and was replaced by Gao Lining[25] Performance Commitments - The company committed to a three-year performance guarantee with cumulative net profit targets of RMB 23,623.13 million, with annual targets of RMB 6,193.16 million, RMB 7,795.55 million, and RMB 9,634.42 million for 2015, 2016, and 2017 respectively[29] - The company has established a performance compensation obligation for its subsidiary, ensuring that if net profits do not meet commitments, compensation will be provided[32] - The company has set a performance target for its subsidiary, requiring cumulative net profits to meet or exceed promised levels over specified years[32] - The company emphasizes the importance of legal compliance in related party transactions to protect the interests of minority shareholders[31] Related Party Transactions - The company aims to avoid and reduce related party transactions with its subsidiaries, ensuring transactions with independent third parties are conducted fairly[30] - The company guarantees that no improper benefits will be obtained through related party transactions, and any losses incurred will be compensated by the responsible party[31] - The company will not engage in similar business activities as its subsidiaries, ensuring no competition arises within the market[32] - The company has committed to strict compliance with market principles in any unavoidable related party transactions, ensuring fairness and transparency[30] - The company will notify its subsidiaries of any competitive business opportunities and will strive to transfer such opportunities to them[31] - The company has a lock-up period for shares acquired through its subsidiary, with specific timelines for release based on performance metrics[32] Future Outlook - The company plans to invest over 20 million RMB in various radar system projects, including low-altitude target detection and drone detection systems, which have not yet generated revenue[36] - The company is focused on ensuring future growth by investing in research and development of new technologies and products[36] - The company’s subsidiaries are expected to achieve their promised net profits in 2016, contributing positively to overall performance[36] Compliance and Governance - No violations of external guarantees during the reporting period[38] - No non-operating fund occupation by controlling shareholders or related parties during the reporting period[39] - Company conducted investor relations activities on July 15, 2016, and September 5, 2016, with institutional investors[40]

Financial Performance - The company's operating revenue for the first half of 2016 was ¥168,360,180.49, a decrease of 84.41% compared to ¥1,079,599,190.55 in the same period last year[24]. - Net profit attributable to shareholders was ¥43,607,399.61, an increase of 37.19% from ¥31,786,035.72 year-on-year[24]. - The net cash flow from operating activities was -¥61,238,203.19, a decline of 398.16% compared to ¥20,538,378.41 in the previous year[24]. - The total assets at the end of the reporting period were ¥2,240,785,434.54, down 4.39% from ¥2,343,610,799.90 at the end of the previous year[24]. - The basic earnings per share decreased by 71.43% to ¥0.04 from ¥0.14 in the same period last year[24]. - The weighted average return on net assets was 2.03%, down from 2.60% in the previous year[24]. - The company's net assets attributable to shareholders decreased by 6.16% to ¥1,995,404,040.12 from ¥2,126,366,438.66 at the end of the previous year[24]. - Operating profit was 52.82 million yuan, an increase of 24.45% compared to the same period last year[32]. - Total profit reached 53.93 million yuan, reflecting a year-on-year growth of 30.60%[32]. - The company reported a significant decrease in cash flow from operating activities, with a net outflow of 61.24 million yuan, a decline of 398.16% compared to the previous year[35]. Acquisitions and Investments - The company completed the acquisition of 70% of Aikete's equity on February 1, 2016, expanding its military electronic information business[30]. - On June 22, 2016, the company completed the acquisition of 100% of Qiwitech's equity, further enhancing its military electronic information capabilities[30]. - The company completed the acquisition of 70% of Chengdu Aike Technology Development Co., Ltd. and 100% of Xi'an Qiwai Technology Development Co., Ltd., contributing positively to profits[74]. - The cash payment for the acquisition project is CNY 14,735.8 million, fully utilized at 100%[66]. - The project based on Beidou navigation for tunnel monitoring has an investment of CNY 1,000 million, with CNY 707.27 million utilized, achieving 70.73% of the planned investment[66]. Research and Development - The company is focusing on developing new products such as a comprehensive monitoring system based on Beidou navigation and a collision avoidance radar for lightweight drones[42]. - The company established the Beijing Institute of Radar Technology to strengthen its R&D capabilities in radar and navigation technologies[41]. - The company has developed a new generation of multi-mode, multi-frequency high-performance baseband signal processing chips for the BeiDou satellite navigation receivers, showcasing its strong R&D capabilities[48]. - The company has a highly qualified R&D team of nearly 400 people, with over 50% holding doctoral and master's degrees[50]. - The company has achieved multiple invention patents and software copyrights, emphasizing its strong intellectual property position[49]. Market and Sales - The company has expanded its market presence in Beijing, Chengdu, and Tianjin, enhancing its sales network[44]. - The revenue from the domestic market was ¥168.36 million, but it experienced a significant decline of 81.41% year-on-year[46]. - The company's revenue for the communication equipment sector reached ¥168.36 million, representing a year-on-year increase of 405.94%[46]. Financial Management and Shareholder Relations - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[7]. - The cash dividend policy is in accordance with the company's articles of association and shareholder resolutions[78]. - The company committed to distributing at least 10% of the distributable profit in cash when conditions are met[112]. - The company guarantees that cumulative cash distributions over three consecutive years will not be less than 30% of the average annual distributable profit[112]. - The company has provided sufficient opportunities for minority shareholders to express their opinions and protect their legal rights[78]. Corporate Governance - The company has maintained compliance with corporate governance requirements as per the Company Law and relevant regulations[85]. - The company aims to avoid and minimize related party transactions with its controlling or influenced enterprises, ensuring transactions with independent third parties are conducted fairly[110]. - The company has not reported any changes in the use of raised funds during the reporting period[68]. - The company has not engaged in any significant non-raised fund investments during the reporting period[73]. Share Capital and Structure - The total share capital increased from 317,399,633 shares to 983,938,862 shares after the rights distribution, with a cash dividend of 5.5 RMB per 10 shares and a capital reserve conversion of 21 shares for every 10 shares held[121]. - The proportion of unrestricted circulating shares remained at 68.55%, while the proportion of restricted circulating shares also remained at 31.45% after the rights distribution[122]. - The company’s shareholding structure saw a notable change, with the number of shares held by domestic natural persons increasing significantly post-distribution[121]. - The total number of ordinary shareholders at the end of the reporting period was 53,980[130]. - Jiangsu Changfa Industrial Group Co., Ltd. held 29.55% of the shares, totaling 290,773,335 shares[130]. Compliance and Legal Matters - There are no major litigation or arbitration matters during the reporting period[86]. - The company has not engaged in any asset sales during the reporting period[90]. - The company has not undergone any corporate mergers during the reporting period[91]. - The financial report for the first half of 2016 was not audited[140]. - There were no penalties or rectifications during the reporting period[114]. Future Outlook - Future outlook remains cautious with no specific guidance provided for the upcoming periods[171].