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].

Financial Performance - The company's revenue for Q3 2021 reached ¥1,346,003,589.17, an increase of 39.92% compared to the same period last year[4] - Net profit attributable to shareholders was ¥204,741,040.80, reflecting a significant increase of 152.45% year-on-year[4] - The net profit after deducting non-recurring gains and losses was ¥187,440,331.28, up 132.24% from the previous year[4] - Total operating revenue for the current period reached CNY 3,716,513,512.93, an increase of 23.5% compared to CNY 3,008,497,396.47 in the previous period[21] - Net profit for the current period was CNY 493,722,577.45, representing a 2.6% increase from CNY 480,466,875.94 in the same period last year[22] - Basic earnings per share increased to CNY 0.33, compared to CNY 0.31 in the previous period[23] Assets and Liabilities - The total assets as of September 30, 2021, amounted to ¥7,569,974,659.11, representing a growth of 22.81% compared to the end of the previous year[5] - The total liabilities of the company as of September 30, 2021, amounted to approximately 3.709 billion CNY, up from approximately 2.585 billion CNY at the end of 2020, indicating an increase of about 43.5%[20] - The company's total current assets reached approximately 3.669 billion CNY, an increase from 2.878 billion CNY at the end of 2020, representing a growth of about 27.5%[18] - The company's non-current assets totaled approximately 3.901 billion CNY as of September 30, 2021, compared to approximately 3.286 billion CNY at the end of 2020, marking an increase of about 18.7%[19] - The total equity reached approximately 3.861 billion CNY as of September 30, 2021, up from approximately 3.579 billion CNY at the end of 2020, reflecting a growth of about 7.9%[20] Cash Flow and Investments - The company's cash flow from operating activities for the year-to-date was ¥383,096,016.02, an increase of 16.07% year-on-year[4] - Cash received from investment income increased by 239.88% to ¥19,650,331.08, primarily due to increased dividends from associated companies[10] - The net cash flow from investment activities was -816,616,395.56 CNY, compared to -218,149,287.84 CNY in the previous year, indicating a significant increase in cash outflow[25] - The total cash inflow from financing activities was 1,896,050,472.74 CNY, up from 1,655,589,533.82 CNY year-over-year[25] - The net cash flow from financing activities decreased to 441,013,421.75 CNY from 521,591,633.65 CNY in the previous year[25] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 95,509[12] - The largest shareholder, Qiu Xingya, holds 16.42% of the shares, totaling 244,376,552 shares[12] - The company completed the transfer of 14.879 million shares under the employee stock ownership plan on August 19, 2021, with total subscription funds amounting to 74.395 million CNY[15] Government Support and Subsidies - The company recorded other income of ¥17,203,031.49, a 53.46% increase attributed to government subsidies received during the period[9] - Non-operating income surged to ¥18,309,455.04, a dramatic increase of 1,796.22% due to government grants received[9] - Cash received from government subsidies increased by 39.58% to ¥41,174,482.62 compared to the same period last year[10] Operational Changes and Projects - The company established a wholly-owned subsidiary, Zhuhai Xinke Semiconductor Co., Ltd., to implement a project for IC packaging substrates and related products[14] - The company has completed the registration of its new subsidiary and is progressing with the construction of the IC packaging substrate project[14] - The company plans to use up to 120 million CNY of idle raised funds to temporarily supplement working capital for daily operations, with a usage period not exceeding 12 months[16] Research and Development - Research and development expenses for the current period were CNY 191,662,676.57, an increase from CNY 174,123,631.88 in the previous period[21] Other Financial Metrics - The company reported a decrease in credit impairment losses to CNY -24,693,441.71 from CNY -18,322,741.97 in the previous period[22] - The total comprehensive income for the current period was CNY 475,991,565.78, slightly down from CNY 486,042,934.44 in the previous period[23] - The company has implemented a new leasing standard effective from January 1, 2021, affecting the financial statements[26] - The report for the third quarter was not audited[29]

Financial Performance - The company's revenue for the first half of 2021 was CNY 2,370,509,923.76, representing a 15.83% increase compared to CNY 2,046,540,735.63 in the same period last year[10]. - Net profit attributable to shareholders decreased by 24.24% to CNY 285,085,910.16 from CNY 376,295,017.52 year-on-year[10]. - The net profit after deducting non-recurring gains and losses increased by 103.15% to CNY 286,920,488.93 compared to CNY 141,232,555.17 in the previous year[10]. - The net cash flow from operating activities was CNY 223,295,910.98, down 6.07% from CNY 237,726,253.00 in the same period last year[10]. - Total assets at the end of the reporting period were CNY 6,893,802,921.50, an increase of 11.84% from CNY 6,163,815,892.00 at the end of the previous year[10]. - The net profit attributable to shareholders decreased by 24.24% to CNY 28,508.59 million, primarily due to a high base effect from the previous year[29]. - The company achieved operating revenue of CNY 2,370,509,923.76, a year-on-year increase of 15.83%[29]. - The company reported a net loss in investment income of CNY -2,532,261.88, which negatively impacted total profit by -0.78%[34]. - The company reported a total of 394.52 million yuan in related party transactions, accounting for 0.01% of similar transactions[93]. Assets and Liabilities - Total operating revenue for the first half of 2021 reached CNY 2,370,509,923.76, representing a year-on-year increase of 15.83% compared to CNY 2,046,540,735.63 in the same period of 2020[30]. - The company's total assets amounted to CNY 6,893,802,921.50, compared to CNY 6,163,815,892.00, showing a growth of about 11.8%[147]. - The total liabilities increased to CNY 3,330,377,121.18 from CNY 2,585,089,736.80, which is an increase of approximately 28.8%[147]. - The total equity attributable to shareholders increased to CNY 3,318,720,382.03 from CNY 3,289,281,863.27, showing a slight increase of about 0.9%[147]. - The company's cash and cash equivalents saw a net increase of CNY 79,092,784.30, a decrease of 87.56% compared to the previous period, mainly due to reduced cash flow from investment activities[29]. - The company's total liabilities were not explicitly stated but can be inferred from the equity and asset figures[164]. Research and Development - The company has applied for a total of 14 patents during the reporting period, including 7 invention patents and 7 utility model patents, and has been granted 28 patents in total[17]. - R&D investment rose by 14.92% to CNY 122,927,954.57, reflecting the company's commitment to enhancing technological capabilities[29]. - Research and development expenses increased to CNY 122,927,954.57, up from CNY 106,967,044.91 in the first half of 2020, indicating a focus on innovation[151]. Environmental Compliance - The company reported a total wastewater discharge of 3.528 tons/year for COD, which is below the approved limit of 18.22 tons/year[60]. - The company has a total nitrogen wastewater discharge of 0.4983 tons/year, exceeding the approved limit of 5.468 tons/year[60]. - The company is classified as a key pollutant discharge unit by environmental protection authorities[59]. - The company has implemented organized collection and treatment of hydrogen chloride emissions, achieving an annual discharge of 0 tons, well below detection limits[62]. - The company has achieved compliance with discharge standards for total phosphorus at 0.45 mg/L, with an annual discharge of 0.04 tons[63]. Corporate Governance - The company held its first extraordinary general meeting of shareholders in 2021 with an investor participation rate of 22.0728%[57]. - The company has appointed new executives, including two vice presidents on May 7, 2021[58]. - The company has no current employee stock ownership plans or other incentive measures in place[58]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[84]. - The company reported no major litigation or arbitration matters during the reporting period[87]. Market and Industry Focus - The company focuses on the PCB and semiconductor industries, providing a full value chain from R&D to production and sales, with a strong emphasis on quality and customer trust[15]. - The semiconductor business includes IC packaging substrates and semiconductor test boards, with a focus on domestic material breakthroughs[15]. - The company aims to continue expanding its semiconductor business and provide differentiated products and services while leveraging its R&D capabilities[23]. Shareholder Information - The total number of shareholders at the end of the reporting period was 124,516, with significant shareholders holding over 5% of the ordinary shares[122]. - The largest shareholder, Qiu Xingya, holds 16.42% of the shares, totaling 244,376,552 shares, with 132,658,999 shares pledged[122]. - The total number of restricted shares at the end of the period was 1,747,125, with 22,500 shares released during the period[121]. Financial Ratios - The company's current ratio is 154.56%, a decrease of 2.66% compared to the previous year[142]. - The debt-to-asset ratio increased to 48.31%, up by 6.37% from the previous year[142]. - The interest coverage ratio decreased to 10.51, a decline of 34.88% from the previous year[142]. Strategic Initiatives - The company plans to focus on IC packaging substrates and enhance operational efficiency through cost reduction and digital transformation[28]. - The company plans to enhance management capabilities and operational efficiency to mitigate risks associated with rapid expansion and market competition[55]. - The company plans to acquire 100% equity of Zhuhai Xingsheng Technology Co., Ltd. for 10,000 million CNY and will increase its registered capital to 21,000 million CNY[112].

Financial Performance - The company's revenue for Q1 2021 was CNY 1,070,932,287.48, representing a 24.40% increase compared to CNY 860,866,476.10 in the same period last year[4]. - Net profit attributable to shareholders was CNY 101,414,455.29, a significant increase of 158.76% from CNY 39,192,890.95 year-over-year[4]. - The net profit after deducting non-recurring gains and losses was CNY 109,528,798.15, up 215.06% from CNY 34,764,111.88 in the previous year[4]. - The basic earnings per share increased to CNY 0.07, reflecting a growth of 133.33% compared to CNY 0.03 in the same quarter last year[4]. - The company reported a total comprehensive income of ¥96,998,962.40 for Q1 2021, up from ¥52,981,419.97 in Q1 2020, reflecting an increase of 83.3%[34]. - Net profit for Q1 2021 was ¥105,258,382.35, up 108.5% from ¥50,451,921.93 in Q1 2020[33]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 6,638,531,901.61, a 7.70% increase from CNY 6,163,815,892.00 at the end of the previous year[4]. - Total non-current assets reached CNY 3,326,627,719.15, a slight increase of 1.25% from CNY 3,285,562,127.50[26]. - Total liabilities increased to CNY 3,105,551,311.98, up 20.19% from CNY 2,585,089,736.80[27]. - The company's total equity attributable to shareholders of the parent company decreased to CNY 3,243,472,191.55 from CNY 3,289,281,863.27, a decline of 1.39%[27]. - The company's total assets increased to ¥3,841,267,311.59, compared to ¥3,600,373,736.76 at the end of the previous period, reflecting a growth of 6.7%[31]. - Total liabilities rose to ¥2,002,807,736.28, an increase of 20.5% from ¥1,661,621,343.09 in the previous period[31]. Cash Flow - The net cash flow from operating activities was CNY 57,549,303.58, down 63.56% from CNY 157,920,245.83 in the same period last year[4]. - Cash and cash equivalents increased to CNY 1,020,380,013.67, up 18.63% from CNY 860,131,044.59[25]. - The total cash inflow from financing activities was ¥705,765,297.81, significantly higher than ¥371,760,950.00 in the previous period, indicating increased financing efforts[37]. - The net cash flow from operating activities for the current period is ¥181,677,613.46, compared to a negative cash flow of ¥20,650,467.37 in the previous period, indicating a significant improvement[39]. Shareholder Information - The top shareholder, Qiu Xingya, holds 16.42% of the shares, with a total of 244,376,552 shares, of which 141,366,000 are pledged[7]. - The company approved a share repurchase plan with a minimum amount of RMB 81.5 million and a maximum of RMB 163 million, with a repurchase price not exceeding RMB 11.00 per share[15]. - As of March 26, 2021, the company repurchased a total of 14,879,000 shares, accounting for 1.00% of the total share capital, with a total payment of RMB 140.58 million[15]. Government Support and Subsidies - The company received government subsidies amounting to CNY 6,798,637.94 during the reporting period[5]. - Cash received from government subsidies increased by 181.71% to RMB 13,380,230.11[14]. Investment and Development - The company invested RMB 10.02 million in the second phase of the Guangzhou Xingsen Quick Circuit Technology Co., Ltd. project, with a cumulative investment of RMB 91.29 million, representing a progress rate of 34.76%[17]. - Research and development expenses for Q1 2021 were ¥58,399,748.86, representing an increase of 28.2% compared to ¥45,528,598.74 in Q1 2020[32]. - The company is focusing on expanding its market presence and enhancing its product development capabilities[29]. Operational Challenges - The net cash flow from operating activities was ¥57,549,303.58, down from ¥157,920,245.83 in the previous period, indicating a decrease in cash generation[37]. - The company is monitoring the impact of rising material prices on its operations[23]. - The company reported a non-operating loss of CNY 12,513,799.96 from the disposal of non-current assets[5]. Compliance and Governance - The company has no significant contracts or overdue commitments during the reporting period[19]. - The company has no securities or derivative investments during the reporting period[16]. - There are no violations regarding external guarantees during the reporting period[20]. - The company has no non-operating fund occupation by controlling shareholders or related parties[20]. - The company has not undergone an audit for the first quarter report[47].

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]. - 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 after deducting non-recurring gains and losses was CNY 291,899,939.54, up 13.62% from CNY 256,910,559.67 in the previous year[13]. - Basic earnings per share for 2020 increased to CNY 0.35, a 75.00% rise from CNY 0.20 in 2019[13]. - The weighted average return on net assets increased to 17.29% at the end of 2020, up from 10.89% at the end of 2019, representing a growth of 6.40% compared to the previous year[14]. - Total assets reached ¥6,163,815,892.00 in 2020, marking an 18.51% increase from ¥5,201,013,136.82 in 2019[14]. - Net assets attributable to shareholders increased by 16.17% to ¥3,289,281,863.27 in 2020, compared to ¥2,831,371,264.81 in 2019[14]. - The company reported a total operating income of ¥1,026,157,809.52 in Q4 2020, with a net profit attributable to shareholders of ¥64,155,869.27 for the same quarter[16]. - The total revenue for 2020 reached CNY 4,034.66 million, a year-on-year increase of 6.07%[37]. - PCB industry revenue was CNY 3,086.18 million, accounting for 76.49% of total revenue, with a growth of 5.63%[38]. - Semiconductor business revenue was CNY 838.58 million, representing 20.79% of total revenue, with a growth of 4.61%[37]. - IC packaging substrate revenue increased by 13% to CNY 336.16 million, with a gross margin of 13%[39]. Cash Flow and Investments - The net cash flow from operating activities decreased by 20.60% to CNY 407,672,002.49, down 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's total investment in 2020 was CNY 481,600,772.95, a substantial increase of 147.20% compared to CNY 194,822,520.64 in the previous year[59]. - Cash and cash equivalents at the end of 2020 amounted to CNY 860,131,044.59, which is 13.95% of total assets, up from 10.15% at the beginning of the year[55]. Research and Development - The company has applied for a total of 104 patents, including 52 invention patents, demonstrating its commitment to innovation and technology development[27]. - Research and development (R&D) investment for 2020 amounted to ¥238,826,055.94, an increase of 20.72% compared to ¥197,840,530.75 in 2019[48]. - The R&D investment accounted for 5.92% of operating revenue in 2020, up from 5.20% in 2019[51]. - The company maintains a strong focus on R&D, with a dedicated team and advanced testing facilities, ensuring high-quality product development and reliability assessments[27]. - The company has established joint laboratories with major global players, enhancing its R&D capabilities in 5G, cloud services, and other advanced technologies[28]. Market Position and Strategy - The company focuses on PCB and semiconductor businesses, providing customized services and solutions, with a strong emphasis on high-value-added products[19]. - The PCB industry is projected to grow at a compound annual growth rate of approximately 5.8%, reaching $79.2 billion by 2025, with China accounting for over half of the global output[20]. - The company operates on a "sales-driven production" model, ensuring customized services based on customer orders[19]. - The company is a leading provider of PCB prototype and small batch manufacturing services, maintaining an average of 25,000 types of PCB orders per month, which positions it at the forefront of the industry[21]. - The company plans to continue expanding its semiconductor business and leverage capital market resources to achieve strategic goals[33]. Shareholder Returns - The company plans to distribute a cash dividend of CNY 0.80 per 10 shares to all shareholders, based on the total share capital after deducting 14,879,000 shares in the repurchase account[2]. - 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 cash dividend distribution is fully compliant with the minimum requirement of 20% for companies in a growth phase with significant capital expenditures[92]. - The company has maintained a consistent cash dividend policy over the past three years, with increasing amounts distributed each year[91]. Environmental and Social Responsibility - The company has implemented ISO14001:2015 environmental management system certification and ISO45001:2018 occupational health and safety management system certification[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, creating job opportunities and supporting public welfare[135]. - The company has established a long-term environmental protection mechanism focused on risk identification and continuous improvement[135]. - The company has achieved wastewater treatment standards for total nickel, with an annual discharge of 0.007 tons[140]. Corporate Governance - The company has a diverse board of directors with extensive backgrounds in finance and technology, enhancing its strategic decision-making capabilities[192]. - The company experienced changes in senior management, with several executives resigning for personal reasons in 2020[189]. - The company has established a three-dimensional incentive system for the remuneration of directors, supervisors, and senior management, based on position, performance, and salary[200]. - The company has no preferred shares outstanding during the reporting period[182]. Future Outlook - The company anticipates growth opportunities in high-layer boards, HDI boards, and IC packaging substrates within the industry[82]. - Future guidance suggests a positive outlook with expected revenue growth driven by new product launches and market expansion strategies[126]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share in the region by 2023[197]. - New product launches are expected to contribute an additional 200 million RMB in revenue in 2021, with a focus on advanced semiconductor technologies[197].

Financial Performance - Net profit attributable to shareholders was ¥81.10 million, a decrease of 11.77% year-on-year[5] - Operating revenue for the period was ¥961.96 million, down 2.37% compared to the same period last year[5] - Basic earnings per share decreased to ¥0.05, down 16.67% year-on-year[5] - The weighted average return on equity was 2.60%, a decrease of 0.85% compared to the previous year[5] - Total operating revenue for Q3 2020 was CNY 961,956,660.84, a decrease of 2.7% compared to CNY 985,322,210.70 in the same period last year[31] - Operating profit for Q3 2020 was CNY 90,228,820.15, down 18.5% from CNY 110,621,956.94 in Q3 2019[31] - Net profit attributable to shareholders for Q3 2020 was CNY 81,101,048.00, a decrease of 11.7% compared to CNY 91,921,847.93 in the previous year[31] - The company's total operating income for the consolidated financial statements was ¥3,008,497,396.47, a rise of 9.3% from ¥2,751,227,201.00 in the previous year[36] - The consolidated net profit attributable to the parent company was ¥457,396,065.52, an increase of 98.1% compared to ¥230,880,618.33 in the previous year[37] Assets and Liabilities - Total assets increased to approximately ¥6.15 billion, up 18.17% from the previous year-end[5] - Cash and cash equivalents increased by 120.30% to ¥1,162,892,239.75 due to increased bank borrowings[12] - The company's total liabilities rose to CNY 2,692,893,945.71 from CNY 2,234,597,004.57, marking an increase of around 20.5%[27] - The company reported a short-term loan of CNY 831,175,154.99, which is a significant increase from CNY 403,562,551.00 in the previous year, representing a rise of approximately 106.2%[26] - Total current assets amounted to CNY 1,129,272,923.87 as of Q3 2020[51] - Total liabilities reached CNY 1,214,214,986.77, with current liabilities at CNY 733,443,362.55[52] Cash Flow - The net cash flow from operating activities reached ¥92.34 million, a significant increase of 1,511.55%[5] - Cash flow from operating activities generated ¥330.06 million, an increase from ¥299.31 million in the previous year[41] - The net cash flow from operating activities for Q3 2020 was ¥188,142,380.40, a decrease of 48% compared to ¥361,424,670.48 in Q3 2019[44] - Cash inflow from financing activities amounted to ¥915,500,000.00, a substantial increase from ¥70,000,000.00 in Q3 2019[44] Investment and Income - The company reported non-operating income of ¥241.19 million from the disposal of non-current assets[5] - Investment income surged by 3888.37% to ¥243,485,453.15 primarily from the sale of a 16% stake in Shanghai Zefeng Semiconductor Technology Co., Ltd.[13] - The company recorded an investment income of ¥243,485,453.15, a substantial increase from ¥6,104,881.66 in the previous year, indicating successful investment strategies[36] Shareholder Information - The number of total shareholders at the end of the reporting period was 154,510[7] - The largest shareholder, Qiu Xingya, holds 18.38% of the shares, totaling 273,519,604 shares[7] Research and Development - Research and development expenses increased to CNY 67,156,586.97, up 34.5% from CNY 49,916,597.34 in Q3 2019[31] - Research and development expenses increased to ¥12,934,924.40, up 136.1% from ¥5,456,246.05 in the previous period, indicating a strong focus on innovation[34] - Research and development expenses increased to ¥28.03 million, representing a 48.5% rise compared to ¥18.84 million in the same quarter last year[39] Financial Management - The company did not engage in any repurchase transactions during the reporting period[9] - The company has not engaged in any non-operating fund occupation by controlling shareholders or their affiliates during the reporting period[22] - The company has not reported any high-risk entrusted financial management situations that could lead to impairment[21] - The company has adopted new revenue and leasing standards starting January 1, 2020, which required adjustments to the financial statements[45] - The company has implemented new revenue recognition standards, impacting the classification of customer prepayments into contract liabilities[53] Tax and Expenses - The company reported a significant increase in tax payments, totaling ¥28,286,151.01 in Q3 2020, compared to ¥17,623,674.69 in Q3 2019[44] - The company's tax expenses for the quarter were ¥9.77 million, significantly higher than ¥2.00 million in the same period last year[39] - The company reduced its sales expenses to ¥1,861,835.09 from ¥3,323,756.14, indicating improved cost management[33] Overall Growth - The total comprehensive income for the current period was ¥486,042,934.44, compared to ¥250,707,706.50 in the previous year, showcasing overall growth[37] - The company reported a comprehensive income total of CNY 84,258,640.62 for Q3 2020, compared to CNY 94,008,049.59 in the same period last year[32]

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]. - The 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 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 net cash flow from operating activities was CNY 237,726,253.00, which decreased by 22.27% compared to CNY 305,847,862.87 in the same period last year[10]. - The company achieved operating revenue of CNY 2,046,540,735.63, representing a year-on-year increase of 15.89%[27]. - Net profit attributable to shareholders reached CNY 37,629.50 million, a significant increase of 170.80% compared to the same period last year[27]. - The total comprehensive income for the first half of 2020 was CNY 401,784,293.82, compared to CNY 156,699,656.91 in the same period of 2019, marking a growth of 156.5%[155]. Investment and Assets - The company reported non-recurring gains of CNY 242,790,572.10 from the disposal of non-current assets[13]. - 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. during the reporting period[16]. - The company reported an increase in equity assets by ¥238.78 million due to the transfer of the 16% stake, resulting in a change in accounting method from cost to equity method[17]. - The company’s long-term equity investments surged by 199.39% to CNY 358,531,680.77, mainly due to the transfer of a 16% stake in a subsidiary[28]. - The company reported a cumulative investment return of CNY 5,900,426.00 from its financial assets[43]. - The company reported a total investment of ¥156,671,245.01 during the reporting period, a 23.54% increase compared to ¥126,813,214.25 in the same period last year[41]. - The company has a total of 170,000 in guarantees approved as of March 30, 2020, with actual amounts ranging from 342.29 to 944.8[82]. 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]. - The company holds a total of 905 patent applications, including 485 invention patents, and has been awarded 590 patents, with 234 being invention patents[19]. - Research and development expenses rose by 11.61% to CNY 106,967,044.91[27]. - The company plans to continue tracking market demand and leverage its R&D capabilities to provide differentiated products and services while expanding its semiconductor business[24]. Market and Sales - The PCB business generated sales revenue of CNY 158,055.61 million, with a year-on-year growth of 16.36%[26]. - The semiconductor business reported sales revenue of CNY 42,307.92 million, reflecting a year-on-year increase of 16.58%[26]. - Domestic sales amounted to ¥986,914,157.86, representing 48.22% of total revenue, with a significant year-on-year increase of 29.01%[32]. - Overseas sales reached ¥1,059,626,577.77, accounting for 51.78% of total revenue, with a year-on-year growth of 5.87%[32]. - The company has collaborated with over 4,000 high-tech enterprises globally, enhancing customer recognition and establishing itself as a key partner for leading semiconductor companies[24]. Risks and Challenges - The company faces no significant risks that could adversely affect its operational or financial status[2]. - The company faces risks from macroeconomic fluctuations, PCB market competition, accounts receivable, raw material price volatility, and operational management[58]. - The company is involved in a contract dispute with its subsidiary, Guangzhou Xinsen Quick Circuit Technology Co., Ltd., with a disputed amount of 561.1 million CNY, currently under trial[64]. - Another dispute involves Hunan Yuanke Innovation Technology Co., Ltd., with a claim of 512.03 million CNY, where the court ruled that Hunan Yuanke must pay 4,870,571.15 CNY plus interest[65]. 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 ammonia nitrogen concentration in wastewater was recorded at 2.8 mg/L, with a total discharge of 1.22 tons, also meeting the regulatory standards[89]. - The company has implemented organized collection and treatment for sulfur dioxide emissions, with a concentration of 5.9 mg/L, adhering to the boiler air pollutant discharge standards[91]. - The company has established a comprehensive environmental management system, including online monitoring systems for water quality and organic waste gas, ensuring compliance with environmental regulations[98]. Shareholder Information - The total number of shareholders at the end of the reporting period was 150,311, with the largest shareholder holding 19.05%[117]. - The largest shareholder, Qiu Xingya, held 283,519,604 shares, while the second-largest shareholder held 74,400,000 shares[117]. - The total number of restricted shares at the end of the period was 4,592,156, with 1,148,039 shares added during the period[116]. Financial Management - The company's current ratio is 174.84%, an increase of 7.05% compared to the previous year[136]. - The debt-to-asset ratio stands at 44.17%, reflecting a slight increase of 1.21% from the previous year[136]. - The company has maintained a loan repayment rate of 100%[136]. - The company has not reported any significant events during the reporting period[142]. - The company has fulfilled all commitments related to the bond issuance prospectus during the reporting period[142].