Financial Performance - The company's revenue for Q3 2022 was ¥1,456,070,896.35, representing an increase of 8.18% compared to the same period last year[4]. - The net profit attributable to shareholders for Q3 2022 was ¥158,990,789.26, a decrease of 22.35% year-over-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥128,757,446.10, down 31.31% from the previous year[4]. - Total operating revenue for Q3 2022 reached ¥4,151,467,919.29, an increase of 11.7% compared to ¥3,716,513,512.93 in the same period last year[17]. - The net profit for Q3 2022 was approximately CNY 493.13 million, a slight decrease from CNY 493.72 million in Q3 2021, representing a year-over-year decline of 0.12%[19]. - The company reported a total comprehensive income of CNY 741.93 million for Q3 2022, compared to CNY 475.99 million in Q3 2021, marking an increase of 55.8%[19]. - Basic and diluted earnings per share for Q3 2022 were both CNY 0.34, slightly up from CNY 0.33 in the previous year[19]. Assets and Liabilities - The total assets as of September 30, 2022, reached ¥11,702,693,924.96, an increase of 40.96% compared to the end of the previous year[4]. - The company's total assets increased to ¥11,702,693,924.96, compared to ¥8,302,218,319.33 in the previous year, marking a growth of 41.5%[16]. - Total liabilities rose to ¥4,744,833,151.75, up from ¥4,016,350,125.97, indicating a year-over-year increase of 18.1%[16]. - The company's total equity reached ¥6,957,860,773.21, up from ¥4,285,868,193.36, indicating a substantial increase of 62.3%[16]. Cash Flow and Financing - The cash flow from operating activities for the year-to-date period was ¥424,805,660.84, up 10.89% compared to the same period last year[4]. - Cash received from tax refunds increased by 64.87% to ¥54,681,776.43, mainly due to higher VAT refunds[9]. - Cash received from government subsidies related to operating activities rose by 66.92% to ¥68,730,458.64[9]. - Cash inflow from non-public stock issuance amounted to ¥1,981,232,073.25, marking a significant fundraising effort[10]. - Cash received from bank loans increased by 49.80% to ¥2,728,799,559.17, indicating a rise in borrowing[10]. - Cash outflow for debt repayment rose by 115.86% to ¥2,257,799,384.94, reflecting increased loan repayments[10]. - The cash outflow from financing activities was CNY 3.26 billion, up from CNY 1.46 billion in Q3 2021, indicating increased financing activities[21]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 82,941[11]. - The largest shareholder, Qiu Xingya, holds 14.46% of the shares, totaling 244,376,552 shares[11]. - The top ten shareholders account for a significant portion of the company's equity, with the top three holding a combined 22.63%[11]. - The company has not disclosed any relationships or concerted actions among the top shareholders[11]. - The total number of preferred shareholders is not applicable in this report[13]. - The company has not indicated any changes in control following the non-public offering[13]. Research and Development - R&D expenses increased by 35.47% to ¥259,654,648.49 compared to ¥191,662,676.57 in the same period last year[8]. - Research and development expenses amounted to ¥259,654,648.49, which is a 35.5% increase from ¥191,662,676.57 in the previous year[17]. Other Financial Metrics - The company reported a significant increase in cash and cash equivalents, which rose by 73.04% to ¥1,956,865,275.94 due to funds raised from a private placement[7]. - The company’s capital reserve increased dramatically by 2995.12% to ¥1,943,904,408.45, attributed to the completion of a private placement[7]. - The company experienced a 90.86% increase in trading financial assets, totaling ¥216,054,386.33, due to a change in accounting treatment for an investment[7]. - The company’s deferred tax assets increased by 61.41% to ¥86,249,697.67, reflecting an increase in deductible temporary differences[7]. - The company reported a significant increase in accounts receivable, which rose to ¥1,822,453,558.87 from ¥1,566,854,380.22, representing a growth of 16.3%[15]. - Inventory levels increased to ¥750,689,236.57, compared to ¥671,071,911.37, reflecting a year-over-year increase of 11.8%[15]. - The company's cash and cash equivalents increased to ¥5,570,700,881.65, compared to ¥4,018,148,449.26, reflecting a growth of 38.6%[16]. - Cash and cash equivalents at the end of Q3 2022 totaled CNY 1.76 billion, significantly higher than CNY 860.77 million at the end of Q3 2021, reflecting a year-over-year increase of 104.5%[21]. - The company raised CNY 1.98 billion from investments during the quarter, compared to no such inflow in the same period last year[21]. - The company experienced a foreign exchange gain of CNY 25.57 million in Q3 2022, contrasting with a loss of CNY 6.85 million in the same quarter last year[21]. - The total assets impairment loss was CNY 4.05 million, a significant improvement from a loss of CNY 9.77 million in Q3 2021[19].

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 2,695,397,022.94, representing a 13.71% increase compared to CNY 2,370,509,923.76 in the same period last year[11]. - The net profit attributable to shareholders of the listed company was CNY 359,431,636.10, an increase of 26.08% from CNY 285,085,910.16 year-on-year[11]. - The net profit after deducting non-recurring gains and losses decreased by 5.47% to CNY 271,220,159.83 from CNY 286,920,488.93 in the previous year[11]. - The net cash flow from operating activities was CNY 211,704,159.30, down 5.19% from CNY 223,295,910.98 in the same period last year[11]. - Basic earnings per share increased by 26.32% to CNY 0.24 from CNY 0.19 year-on-year[11]. - Total assets at the end of the reporting period were CNY 9,750,515,403.94, a 17.44% increase from CNY 8,302,218,319.33 at the end of the previous year[11]. - The net assets attributable to shareholders of the listed company increased by 6.33% to CNY 4,000,390,295.52 from CNY 3,762,384,141.26 at the end of the previous year[11]. - The weighted average return on equity was 9.14%, up from 8.52% in the previous year, reflecting a 0.62% increase[11]. Revenue Breakdown - The IC packaging substrate business generated revenue of 374,629,000 CNY, growing 26.80% year-on-year, with a gross margin of 27.16%, an increase of 6.36 percentage points[24]. - PCB business revenue was 2,006,790,300 CNY, a 12.15% increase year-on-year, but gross margin decreased by 4.19 percentage points to 30.16%[24]. - Semiconductor test board revenue was 228,017,000 CNY, up 12.09% year-on-year, with a gross margin of 20.76%, down 1.41 percentage points[25]. - The semiconductor industry revenue reached CNY 602,645,960.01, marking a 20.81% increase from CNY 498,855,508.73 in the previous year[27]. - The PCB industry contributed CNY 2,006,790,318.43, accounting for 74.45% of total revenue, with a year-on-year growth of 12.15%[27]. Investment and R&D - R&D investment increased by 26.46% to CNY 155,457,107.53, up from CNY 122,927,954.57 in the previous year[26]. - The company has applied for a total of 1,003 patents, including 546 invention patents and 455 utility model patents, with 758 patents granted, including 320 invention patents[17]. - The company aims to continue expanding its semiconductor business and provide differentiated products and services by leveraging its innovative capabilities[22]. - The company has successfully integrated CAD design, manufacturing, and SMT services into a one-stop service model, improving project management efficiency[19]. Cash Flow and Financing - The net cash flow from operating activities decreased by 5.19% to CNY 211,704,159.30, compared to CNY 223,295,910.98 in the same period last year[26]. - Investment activities generated a net cash outflow of CNY 928,474,637.12, a 207.64% increase from CNY -301,810,033.10 in the previous year, primarily due to increased payments for equipment and infrastructure[26]. - Cash inflow from financing activities totaled CNY 2,299,314,350.96, significantly higher than CNY 1,067,981,438.79 in the same period last year[152]. - The net cash flow from financing activities was CNY 797,202,213.35, compared to CNY 164,884,407.48 in the first half of 2021, indicating a strong increase[152]. Environmental and Social Responsibility - The company has been recognized as a "National High-tech Enterprise" and has established several provincial-level R&D institutions, enhancing its research capabilities[17]. - The company has implemented measures to ensure that all emissions meet the required standards, with no exceedances reported[65]. - The company donated 620,000 RMB for rural revitalization projects in Guizhou Province during the 2022 Guangdong Poverty Alleviation Day event[87]. - The company has actively supported a poverty alleviation workshop in Guizhou, transferring all necessary tooling orders to help it recover from order declines due to the pandemic[87]. Risk Management - The company has outlined potential risks and countermeasures in its management discussion and analysis section, emphasizing the importance of investor awareness regarding market uncertainties[2]. - The company faces risks from macroeconomic fluctuations, including the impact of the Russia-Ukraine conflict and COVID-19, which may affect its strategic and operational management[54]. - The company aims to mitigate raw material price volatility risks by optimizing order structures and enhancing supplier relationships[56]. Corporate Governance - The company does not plan to distribute cash dividends or issue bonus shares for the reporting period[2]. - The independent directors have provided a favorable opinion on the company's derivative investment and risk control measures, confirming compliance with legal regulations[41]. - The company held multiple shareholder meetings during the reporting period, with participation rates ranging from 18.16% to 22.74%[58]. Financial Position - The company's total liabilities reached CNY 4,244,795,560.32, up from CNY 3,616,071,719.10, reflecting overall growth in financial obligations[147]. - The company's current ratio was 1.17, a decrease of 13.97% compared to the previous year[136]. - The debt-to-asset ratio increased to 54.16%, up 5.78% from the previous year[136]. - The company maintained a loan repayment rate of 100%[138]. Shareholder Information - A total of 219 employees, including directors and senior management, hold 1,487.90 million shares, representing 1.00% of the company's total share capital[60]. - Major shareholder Qiu Xingya holds 16.42% of shares, totaling 244,376,552 shares, with 183,282,414 shares under lock-up[121]. - The total number of ordinary shareholders at the end of the reporting period is 89,657[118].

Financial Performance - The company's revenue for Q1 2022 was CNY 1,272,476,880, representing an increase of 18.82% compared to CNY 1,070,932,287.48 in the same period last year[4] - Net profit attributable to shareholders was CNY 201,083,305.49, a significant increase of 98.28% from CNY 101,414,455.29 year-on-year[4] - Operating profit for Q1 2022 was CNY 219,971,678.13, up 84.7% from CNY 119,113,317.08 in the same period last year[21] - Basic earnings per share for Q1 2022 were CNY 0.14, up from CNY 0.07 in Q1 2021[22] - The company reported a significant increase in investment income of CNY 80,852,299.36, compared to a loss of CNY 7,992,833.51 in the same quarter last year[21] Cash Flow - The net cash flow from operating activities reached CNY 118,784,432.65, up 106.40% from CNY 57,549,303.58 in the previous year[4] - Total cash inflow from operating activities was CNY 1,342,146,657.02, up from CNY 1,030,539,245.33, reflecting a growth of 30.2% year-over-year[24] - Cash outflow from operating activities increased to CNY 1,223,362,224.37 from CNY 972,989,941.75, representing a rise of 25.7%[24] - The net cash flow from investing activities was -CNY 367,042,778.99, worsening from -CNY 139,183,871.72 in the previous year[24] - Cash inflow from financing activities totaled CNY 992,284,564.56, compared to CNY 705,765,297.81, marking an increase of 40.6%[25] Assets and Liabilities - The total assets at the end of the reporting period were CNY 8,764,024,204.32, reflecting a growth of 5.56% from CNY 8,302,218,319.33 at the end of the previous year[4] - Total liabilities rose to CNY 4,277,574,819.33, compared to CNY 4,016,350,125.97 in the previous year, marking a 6.5% increase[19] - The total current assets amount to RMB 4,202,680,601.29, an increase from RMB 4,018,148,449.26 at the beginning of the year[17] - The company's non-current assets totaled CNY 4,561,343,603.03, an increase from CNY 4,284,069,870.07 in the previous year[19] Shareholder Information - The total number of common shareholders at the end of the reporting period is 87,827[11] - The largest shareholder, Qiu Xingya, holds 16.42% of the shares, totaling 244,376,552 shares[11] - The top ten shareholders collectively hold a significant portion of the company's shares, with the top four alone holding over 29%[11] Research and Development - Research and development expenses for Q1 2022 were CNY 70,779,835.69, an increase of 21.2% from CNY 58,399,748.86 in Q1 2021[19] Future Plans - The company plans to invest approximately RMB 6 billion in the construction of a new FCBGA packaging substrate production and R&D base in Guangzhou[16] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[19] Other Income and Expenses - The company reported a significant increase in other income, which rose by 206.79% to CNY 21,517,853.49 due to increased government subsidies[8] - Cash paid for purchasing goods and services increased by 31.08% to CNY 821,296,924.53, driven by higher material procurement costs[9] - The company received CNY 830,341,278.95 in loans during the quarter, up from CNY 705,765,297.81 in the previous year[25] - The company reported a decrease in cash received from investment recoveries to CNY 22,699,960.00 from CNY 432,810,000.00, a decline of 94.7%[24] Subsidiary and Share Allocation - The company has established a wholly-owned subsidiary for the new project, which has completed its business registration[16] - The company has completed the allocation of 3.645 million shares under the 2021 employee stock ownership plan[15] Audit Information - The company did not conduct an audit for the Q1 2022 report[26]

Financial Performance - The company's operating revenue for 2021 was ¥5,039,987,053.24, representing a 24.92% increase compared to ¥4,034,655,205.99 in 2020[17]. - The net profit attributable to shareholders for 2021 was ¥621,490,008.76, a 19.16% increase from ¥521,551,934.79 in 2020[17]. - The net profit after deducting non-recurring gains and losses was ¥590,978,178.87, showing a significant increase of 102.46% compared to ¥291,899,939.54 in 2020[17]. - The company's total assets at the end of 2021 were ¥8,302,218,319.33, a 34.69% increase from ¥6,163,815,892.00 at the end of 2020[18]. - The net assets attributable to shareholders at the end of 2021 were ¥3,762,384,141.26, reflecting a 14.38% increase from ¥3,289,281,863.27 at the end of 2020[18]. - The company's cash flow from operating activities for 2021 was ¥579,717,794.17, which is a 42.20% increase from ¥407,672,002.49 in 2020[17]. - The weighted average return on equity for 2021 was 17.73%, slightly up from 17.29% in 2020[17]. - The company's total revenue for 2021 was $80,448 million, representing a year-on-year growth of 23.4%, with a projected revenue of $101,560 million for 2026, indicating a compound annual growth rate (CAGR) of 4.8%[27]. Dividend Distribution - The company plans to distribute a cash dividend of 1.00 CNY per 10 shares to all shareholders, based on a total share capital of 1,487,930,802 shares[2]. - The total cash dividend, including other methods, amounted to 289,371,074.20 yuan, with a base of 1,487,930,802 shares[126]. - The company distributed a cash dividend of 1.00 yuan per 10 shares, totaling 148,793,080.20 yuan, which represents 100% of the distributable profit[126]. Business Operations - The company has maintained its main business operations without any changes since its listing[14]. - The company has a total of 1,487,930,802 shares as of the dividend distribution plan, which may change due to the conversion of convertible bonds[2]. - The company has a dedicated investor relations email for inquiries: stock@chinafastprint.com[11]. - The company’s annual report is publicly disclosed on the Shenzhen Stock Exchange website and other financial media[12][13]. - The company has established a flexible management system that allows for rapid delivery and customization, achieving a monthly delivery capacity of over 25,000 product types[34]. Research and Development - R&D expenses rose by 21.18% to ¥289,407,401.85, focusing on 5G circuit board design and semiconductor testing board capabilities[51]. - The number of R&D personnel increased to 465 in 2021, a growth of 3.33% compared to 450 in 2020[54]. - The company has applied for a total of 988 patents in China, including 537 invention patents, and has been recognized as a "National High-tech Enterprise" and "National Intellectual Property Demonstration Enterprise"[30]. - The company is focusing on building high-end smart factories and expanding the IC packaging substrate project to catch up with industry leaders in terms of capacity and technology[78]. Market Position and Strategy - The company ranks 17th among the top 100 PCB companies in China and 32nd among the top 50 global PCB suppliers according to CPCA and Prismark, respectively[27]. - The company anticipates a compound annual growth rate of 4.8% for the global PCB industry from 2021 to 2026[24]. - The company is focusing on expanding its market presence in the semiconductor packaging industry, particularly in high-end applications[83]. - The company is actively pursuing market expansion, with a notable revenue of 4,200.00 million recorded on December 11, 2020, indicating successful penetration into new markets[192]. Environmental Responsibility - The company has implemented measures to ensure that all emissions are within the regulatory limits, demonstrating a commitment to environmental responsibility[140]. - The company has received multiple awards for its environmental management efforts, including recognition as an "Outstanding Clean Production Enterprise" for four consecutive years from 2017 to 2020[165]. - The company has conducted seven temporary shareholder meetings in 2021 to ensure compliance with legal and regulatory requirements[163]. - The company has established a dedicated EHS environmental system group to ensure compliance with the latest environmental regulations and standards[146]. Governance and Management - The company has a structured governance framework with a dedicated supervisory board to ensure compliance and oversight[104]. - The company has established specialized committees within its board to enhance governance and decision-making processes[88]. - The company maintains a fully independent financial management system, with separate bank accounts and independent tax obligations[93]. - The company has not engaged in any related party transactions that could affect its operational independence[91]. Shareholder Relations - The company actively engages in investor relations management, ensuring fair access to information for all shareholders[89]. - The company has a commitment to maintaining transparency and engaging shareholders through regular meetings and updates[95]. - The company reported a total of 279,488,928 shares held by directors and senior management at the beginning of the reporting period[98]. - The company has a talent development plan that includes various training programs for different levels of employees to meet future business needs[123]. Challenges and Risks - The company acknowledges ongoing geopolitical conflicts and trade tensions as challenges to its strategic and operational management[77]. - The company has identified rising raw material prices as a potential challenge impacting its operations[83]. - The company will closely monitor global economic trends and enhance operational efficiency to mitigate risks from macroeconomic fluctuations[79]. - The PCB industry is facing intense competition with over 20 listed companies, prompting the company to invest in R&D and improve management capabilities to maintain its competitive edge[79].

Financial Performance - The company's operating revenue for 2020 was CNY 4,034,655,205.99, representing a 6.07% increase compared to CNY 3,803,722,198.74 in 2019[13]. - The net profit attributable to shareholders for 2020 was CNY 521,551,934.79, a significant increase of 78.66% from CNY 291,916,734.51 in 2019[13]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 291,899,939.54, up 13.62% from CNY 256,910,559.67 in 2019[13]. - The basic earnings per share for 2020 was CNY 0.35, reflecting a 75.00% increase from CNY 0.20 in 2019[13]. - The total revenue for 2020 reached CNY 4,034,655,205.99, representing a year-on-year increase of 6.07%[37]. - The PCB business generated revenue of CNY 308,617.57 million, with a year-on-year growth of 5.63% and a gross margin of 32.57%, up by 0.64 percentage points[35]. - Semiconductor business revenue was CNY 838,584,189.76, showing a year-on-year growth of 4.61%[39]. - The IC packaging substrate business achieved revenue of CNY 336,158,882.05, with a significant growth of 13.00%[39]. Cash Flow and Investments - The net cash flow from operating activities decreased by 20.60% to CNY 407,672,002.49 from CNY 513,457,721.00 in 2019[13]. - The total cash inflow from investment activities increased by 133.18% to CNY 2,016,827,537.12 in 2020, while cash outflow from investment activities doubled to CNY 2,461,700,772.95[52]. - The net cash flow from financing activities significantly improved, reaching CNY 369,052,270.22, a 458.25% increase from the previous year[52]. - The net increase in cash and cash equivalents was CNY 332,259,786.21, representing a remarkable growth of 715.59% year-on-year[52]. - The company reported a total investment of CNY 481,600,772.95 in 2020, a 147.20% increase compared to CNY 194,822,520.64 in the previous year[59]. Market and Industry Insights - The global PCB market value was approximately $62.5 billion in 2020, reflecting a year-on-year growth of about 6.4%[20]. - The PCB industry is expected to grow at a compound annual growth rate of approximately 5.8% until 2025, reaching $79.2 billion[20]. - The demand for high-density interconnect (HDI) PCBs is projected to increase, with HDI shipments expected to account for 70% of mobile phone demand by 2024[20]. - The global automotive FPC market is expected to reach 7 billion yuan in 2022, with a compound annual growth rate of 7.1%, driven by the increasing demand for electric vehicles[21]. - The semiconductor industry in China saw a sales revenue of 590.58 billion yuan in the first nine months of 2020, representing a year-on-year growth of 16.9%[22]. Research and Development - The company has applied for a total of 104 patents, including 52 invention patents, demonstrating its commitment to innovation and R&D[27]. - The company has increased R&D investment, resulting in a 0.72 percentage point rise in R&D expense ratio[35]. - Research and development expenses for 2020 amounted to ¥238,826,055.94, an increase of 20.72% compared to ¥197,840,530.75 in 2019[48]. - The company expanded its R&D team to 450 personnel, a 9.76% increase from 410 in 2019[51]. - The company has established joint laboratories with major global players, enhancing its R&D capabilities in 5G, cloud services, and other advanced technologies[28]. Corporate Governance and Compliance - The company has engaged Zhonghua Certified Public Accountants for auditing services during the reporting period[11]. - The company has appointed Minsheng Securities as its sponsor institution for continuous supervision[12]. - The company did not experience any major litigation or arbitration matters during the reporting period[106]. - The company has not faced any delisting risks following the annual report disclosure[105]. - The company’s auditor, Zhonghua Certified Public Accountants, has been engaged for 8 consecutive years, with an audit fee of RMB 1.39 million for the current period[104]. Dividend Policy - The company plans to distribute a cash dividend of CNY 0.80 per 10 shares to all shareholders, totaling approximately 117.84 million yuan for the 2020 fiscal year[91]. - The cash dividend for 2020 represents 22.59% of the net profit attributable to ordinary shareholders, which was approximately 521.55 million yuan[91]. - The company has consistently paid cash dividends over the past three years, with increasing amounts each year[91]. - The company has committed to maintaining a minimum cash dividend ratio of 20% during its growth phase[92]. Environmental and Social Responsibility - The company has implemented ISO14001:2015 environmental management system certification to enhance its environmental protection efforts[134]. - The company has established a comprehensive supplier management system to ensure fair and transparent procurement processes[134]. - The company has received multiple environmental certifications, including the "Green Environmental Excellent Enterprise" title for four consecutive years from 2017 to 2020[135]. - The company has actively participated in social responsibility initiatives, including job creation and public welfare[135]. - The company has established a long-term environmental protection mechanism focusing on risk identification and continuous improvement[135]. Future Outlook and Strategic Plans - The company anticipates a revenue growth of approximately 15% for the upcoming fiscal year, driven by new product launches and market expansion strategies[125]. - The company plans to expand its market presence in Southeast Asia, targeting a 20% increase in market share by 2022[125]. - A strategic acquisition of a local competitor is expected to enhance operational capabilities and increase revenue by an estimated 10% in the next fiscal year[125]. - The company aims to improve its financial health and operational efficiency in the upcoming fiscal year[192]. - The company is committed to maintaining a stable credit rating and ensuring timely debt repayment in the future[187].

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 2,046,540,735.63, representing a 15.89% increase compared to CNY 1,765,904,990.30 in the same period last year[10]. - Net profit attributable to shareholders was CNY 376,295,017.52, a significant increase of 170.80% from CNY 138,958,770.40 in the previous year[10]. - The net profit after deducting non-recurring gains and losses was CNY 141,232,555.17, which is a 16.70% increase from CNY 121,023,189.96 in the same period last year[10]. - The basic earnings per share rose to CNY 0.25, up 177.78% from CNY 0.09 in the previous year[10]. - The company achieved operating revenue of CNY 2,046,540,735.63, representing a year-on-year growth of 15.89%[27]. - Net profit attributable to shareholders reached CNY 37,629.50 million, a significant increase of 170.80% compared to the previous year[26]. - The PCB business generated sales revenue of CNY 158,055.61 million, with a year-on-year growth of 16.36% and a gross margin of 31.21%[26]. - The semiconductor business reported sales revenue of CNY 42,307.92 million, reflecting a year-on-year increase of 16.58%[26]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 6,152,050,201.71, an 18.29% increase from CNY 5,201,013,136.82 at the end of the previous year[10]. - The net assets attributable to shareholders increased to CNY 3,093,984,395.82, a 9.28% rise from CNY 2,831,371,264.81 at the end of the previous year[10]. - The company's total assets increased to CNY 615,205.02 million, up 18.29% year-on-year[27]. - Total liabilities reached CNY 2,717,393,264.22, up from CNY 2,234,597,004.57, reflecting a growth of 21.6%[147]. - Current liabilities rose to CNY 1,746,460,165.51, compared to CNY 1,430,536,982.46, marking an increase of 22.1%[147]. Cash Flow - The net cash flow from operating activities was CNY 237,726,253.00, which represents a decrease of 22.27% compared to CNY 305,847,862.87 in the same period last year[10]. - The company’s cash and cash equivalents increased by 181.20% to CNY 635,551,547.85, primarily due to increased bank borrowings[28]. - The company reported a cash outflow from investment activities of ¥1,512,571,245.01, compared to ¥153,912,307.64 in the first half of 2019, indicating a substantial increase in investment expenditures[158]. - The company generated a net cash flow from financing activities of ¥527,139,103.73, a substantial increase from ¥24,536,747.95 in the first half of 2019[159]. Research and Development - The company has a research team of over 100 professionals and has been recognized as a "National High-tech Enterprise" and "National Intellectual Property Demonstration Enterprise"[19]. - Research and development expenses rose to CNY 106,967,044.91, marking an increase of 11.61% year-on-year[27]. - The company plans to continue tracking market demand and leverage its R&D capabilities to provide differentiated products and services[24]. Environmental Compliance - The company has no significant environmental protection issues and is not listed as a key pollutant discharge unit by environmental authorities[88]. - The company reported a total wastewater discharge of 5.11 tons, with a chemical oxygen demand concentration of 16 mg/L, compliant with the discharge standard[89]. - The company has established a comprehensive wastewater treatment system, air pollution control system, and central dust collection system to meet environmental standards[96]. - The company has implemented advanced VOCs treatment technology, upgrading from "water spray absorption + activated carbon adsorption" to "water spray absorption + UV catalytic degradation + activated carbon end protection"[98]. Shareholder Information - The total number of shares before the recent change was 1,487,907,504, with 15.15% being restricted shares and 84.85% being unrestricted shares[114]. - The company had a total of 150,311 shareholders at the end of the reporting period, with the largest shareholder holding 19.05% of the shares[117]. - The top three shareholders held 19.05%, 5.00%, and 4.50% of the shares, respectively[120]. Legal and Regulatory Matters - The company is involved in a contract dispute with a subsidiary, Guangzhou Xingsen Quick Circuit Technology Co., Ltd., with a claim amounting to 5.611 million CNY, currently under trial[64]. - The company has a total of 2.6806 million CNY in ongoing litigation that does not meet the significant disclosure threshold, with some cases still pending judgment[66]. - The company has not experienced any bankruptcy reorganization matters during the reporting period[63]. Financial Management - The company has a total credit line of RMB 30,000,000 from the China Development Bank, with RMB 14,800,000 utilized for a one-year loan[137]. - The company maintained a loan repayment rate of 100% during the reporting period[135]. - The company has no overdue debts as of the reporting date[136]. Investment Activities - The company invested CNY 48,107,488.28 in the construction of a PCB manufacturing project, with a cumulative actual investment of CNY 385,774,202.82 by the end of the reporting period[42]. - The company achieved a tax-adjusted investment income of approximately ¥224.11 million from the transfer of a 16% stake in its subsidiary Shanghai Zefeng Semiconductor Technology Co., Ltd.[16]. Corporate Governance - The company has not provided any guarantees that violate regulations during the reporting period[86]. - The company has not encountered any situations where expected recoverable principal from entrusted financial management is at risk[86].