Financial Performance - The company's revenue for Q1 2020 was ¥860,866,476.10, representing a 1.03% increase compared to ¥852,099,106.73 in the same period last year[8] - Net profit attributable to shareholders was ¥39,192,890.95, up 5.84% from ¥37,030,554.52 year-on-year[8] - Basic earnings per share rose by 50.00% to ¥0.03 from ¥0.02 in the same period last year[8] - Net profit for the current period is CNY 50,451,921.93, up from CNY 46,028,115.17 in the previous period, reflecting an increase of approximately 9.0%[40] - The company reported a total comprehensive income of CNY 52,981,419.97, compared to CNY 40,468,596.82 in the previous period, representing an increase of approximately 30.0%[41] Cash Flow - The net cash flow from operating activities increased significantly by 118.08%, reaching ¥157,920,245.83 compared to ¥72,413,066.84 in the previous year[8] - Cash received from investment recoveries surged by 2002.33% to RMB 630,700,000.00, primarily from the redemption of bank wealth management products[19] - Cash paid for investments reached RMB 634,000,000.00, marking a 100% increase due to purchases of bank wealth management products[19] - The company achieved cash inflow from investment activities of CNY 634,856,803.55, a substantial increase from CNY 33,677,547.79 in the previous period[46] - The company reported a total cash inflow from operating activities of 1,229,328,480.90 CNY, a substantial increase from 266,118,441.33 CNY in the previous period[48] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,240,071,087.59, a 0.75% increase from ¥5,201,013,136.82 at the end of the previous year[8] - Current liabilities rose to CNY 1,513,368,700.96, up from CNY 1,430,536,982.46, an increase of 5.77%[32] - Total liabilities decreased to CNY 2,220,673,535.37 from CNY 2,234,597,004.57, a reduction of 0.62%[32] - Owner's equity increased to CNY 3,019,397,552.22 from CNY 2,966,416,132.25, an increase of 1.78%[32] - The total amount of contract liabilities was CNY 102,678,927.51, reflecting customer prepayments[57] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 151,415[12] - The largest shareholder, Qiu Xingya, holds 19.05% of the shares, amounting to 283,519,604 shares, with a portion pledged[12] - The company did not engage in any repurchase transactions during the reporting period[13] Expenses - The company reported a 33.41% decrease in taxes and surcharges to RMB 3,864,533.71, attributed to tax relief policies during the pandemic[17] - Financial expenses decreased by 53.48% to RMB 9,709,906.10, mainly due to increased exchange gains[17] - Research and development expenses decreased slightly to CNY 45,528,598.74 from CNY 47,316,253.99, a reduction of about 3.8%[39] - The company recorded an investment loss of CNY 345,267.19, a significant decline from the investment income of CNY 1,793,993.51 in the previous period[39] Investment Activities - The company’s cash outflow for investing activities was 277,200.00 CNY, significantly lower than 3,806,610.50 CNY in the previous period, indicating reduced investment activity[50] - Long-term investments totaled CNY 1,493,084,463.32, while fixed assets were valued at CNY 163,569,441.93[57] Reporting and Compliance - The first quarter report was not audited, indicating preliminary financial data[59] - The report was issued by the legal representative Qiu Xingya on April 27, 2020[60]

Financial Performance - The company's operating revenue for 2019 was CNY 3,803,722,198.74, representing a year-on-year increase of 9.51% from CNY 3,473,258,603.48 in 2018[12]. - Net profit attributable to shareholders for 2019 was CNY 291,916,734.51, a 35.95% increase compared to CNY 214,720,816.25 in 2018[12]. - The net profit after deducting non-recurring gains and losses was CNY 256,910,559.67, up 49.51% from CNY 171,837,584.21 in 2018[12]. - The net cash flow from operating activities reached CNY 513,457,721.00, reflecting a 54.10% increase from CNY 333,190,502.62 in 2018[12]. - Basic earnings per share for 2019 were CNY 0.20, an increase of 42.86% from CNY 0.14 in 2018[12]. - Total assets at the end of 2019 amounted to CNY 5,201,013,136.82, a 9.96% increase from CNY 4,730,088,601.85 at the end of 2018[12]. - The net assets attributable to shareholders were CNY 2,831,371,264.81, up 11.33% from CNY 2,543,262,304.13 in 2018[13]. - The weighted average return on equity for 2019 was 10.89%, compared to 8.66% in 2018, indicating an improvement of 2.23%[12]. - The company achieved a total operating revenue of CNY 3,803.72 million in 2019, representing a year-on-year growth of 9.51%[35]. - The company’s operating profit rose to CNY 355.54 million, marking a growth of 28.96% compared to the previous year[35]. - The overall expense ratio decreased, with selling expense ratio down by 0.59 percentage points and management expense ratio down by 0.24 percentage points[35]. - The company’s overseas revenue accounted for 53.50% of total revenue, showing a slight decrease from the previous year[39]. - In 2019, the total operating cost amounted to CNY 2,596,928,104.69, an increase from CNY 2,415,454,265.29 in 2018, reflecting a growth of 7.52%[42]. Revenue Breakdown - PCB business revenue reached CNY 2,921.56 million, with a growth of 4.54% and a gross margin of 31.91%[36]. - Semiconductor business revenue increased significantly to CNY 801.60 million, up 39.75%, with a gross margin of 24.12%[37]. - The semiconductor testing board business saw a revenue increase of 49.33%, reaching CNY 504.12 million, with a gross margin of 27.92%[37]. Investment and R&D - The company reported a total R&D investment of CNY 197,840,530.75 in 2019, which is 5.20% of operating revenue, showing a 10.19% increase from CNY 179,543,024.04 in 2018[50]. - The number of R&D personnel increased by 9.33% to 410 in 2019, maintaining a stable proportion of 16.07% of the total workforce[50]. - The company has a research team of over 100 professionals and has established three provincial-level R&D institutions, enhancing its capability to undertake national-level projects[29]. - The company has allocated 50 million CNY for research and development in advanced circuit technologies for the upcoming fiscal year[125]. Market Position and Strategy - The company maintains a leading position in the PCB sample and small batch board market, with an average of 25,000 types of PCB orders per month[21]. - The company is actively expanding its technology innovation and market development efforts to adapt to industry demands and trends[20]. - The company plans to continue expanding its semiconductor business and leverage capital market resources to achieve strategic goals[34]. - The company plans to expand its market presence in Southeast Asia, targeting a 15% increase in market share by 2021[125]. - The company aims to enhance market share and operational efficiency while managing risks associated with macroeconomic fluctuations and raw material price volatility[89]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 0.8 per 10 shares, based on a total of 1,487,907,504 shares[2]. - The cash dividend for 2018 was 0.60 CNY per 10 shares, amounting to 89,274,450.24 CNY, representing 41.58% of the net profit attributable to ordinary shareholders[96]. - The cash dividend for 2017 was 0.30 CNY per 10 shares, totaling 44,637,225.12 CNY, which was 27.09% of the net profit attributable to ordinary shareholders[96]. - The company's profit distribution policy aims to provide stable and reasonable returns to shareholders, with a focus on cash dividends[94]. - The total distributable profit for 2019 was 211,418,134.42 CNY, with the cash dividend representing 100% of the profit distribution[97]. Environmental Compliance - The company has passed the OHSAS 18001:2007 and ISO 14001:2015 certifications, emphasizing its focus on employee safety and environmental management[147]. - The company has been recognized as a "Green Environmental Excellent Enterprise" for three consecutive years from 2017 to 2019[147]. - The company has implemented measures to ensure that all emissions are treated and meet the relevant environmental standards, demonstrating commitment to sustainability[152]. - The company’s wastewater treatment station effectively processes various pollutants, including ammonia nitrogen and total phosphorus, ensuring compliance with local regulations[153]. - The company has established a dedicated EHS environmental system team to ensure compliance with the latest environmental policies and regulations[156]. Corporate Governance - The company maintains complete independence from its controlling shareholder in business, personnel, assets, institutions, and finance[199]. - The company has established a standardized and independent financial accounting system, with a dedicated financial department[200]. - The governance structure is compliant with relevant laws and regulations, with no reported administrative measures taken by regulatory authorities during the reporting period[196]. - The board of directors consists of seven members, including three independent directors, ensuring compliance with governance standards[196]. - The company has established specialized committees under the board, including audit, nomination, strategy, and compensation committees[196]. Legal and Regulatory Matters - The company confirmed that there were no non-operating fund occupations by its controlling shareholders or related parties during the reporting period[102]. - The company has not faced any bankruptcy reorganization matters during the reporting period[115]. - The company has not reported any major related party transactions that exceed the disclosure threshold during the reporting period[120]. - The company has not faced any significant penalties or corrective actions related to environmental regulations during the reporting period[117].

Financial Performance - Operating revenue for the reporting period was ¥985,322,210.70, representing an increase of 8.00% compared to the same period last year[4] - Net profit attributable to shareholders of the listed company was ¥91,921,847.93, up 14.56% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥86,880,341.39, an increase of 11.56% compared to the same period last year[4] - Basic earnings per share for the reporting period was ¥0.06, reflecting a growth of 20.00% year-on-year[4] - Total operating revenue for Q3 2019 reached CNY 985.32 million, an increase of 8.0% compared to CNY 912.38 million in the same period last year[30] - Net profit for the period was CNY 98.70 million, representing a 12.9% increase from CNY 87.88 million in Q3 2018[31] - The total profit for Q3 2019 was CNY 277.27 million, compared to CNY 231.87 million in Q3 2018, indicating a growth of 19.6%[37] - The total comprehensive income for the current period was ¥94,008,049.59, up from ¥89,558,504.37, marking a 4.9% increase[34] Assets and Liabilities - Total assets at the end of the reporting period reached ¥5,096,791,879.59, an increase of 7.75% compared to the end of the previous year[4] - The company's total assets as of the reporting date were ¥2,751,227,201.00, compared to ¥2,603,952,437.20 in the previous year, indicating a growth of 5.7%[36] - The total current liabilities increased to CNY 1,501,263,199.03 from CNY 1,456,384,294.78, representing an increase of approximately 3.1%[26] - The total liabilities increased to CNY 1.25 billion, compared to CNY 1.17 billion, showing a growth of 6.5%[30] - Total liabilities amounted to CNY 2,078,397,713.48, reflecting a decrease of CNY 4,320,416.75 from the last reporting period[49] Cash Flow - The net cash flow from operating activities was negative at -¥6,541,465.85, a decrease of 105.68% compared to the same period last year[4] - The net cash flow from operating activities for the current period is ¥299,306,397.02, an increase of 27.0% compared to ¥235,600,643.69 in the previous period[42] - Cash outflow from operating activities decreased to ¥2,515,778,152.68 from ¥2,567,013,149.85, resulting in improved net cash flow[42] - The net cash flow from investing activities is -¥216,671,611.17, an improvement from -¥347,517,746.87 in the previous period[43] - Cash inflow from financing activities increased to ¥669,944,514.70 from ¥539,538,533.70, indicating stronger financing efforts[43] Shareholder Information - Net assets attributable to shareholders of the listed company amounted to ¥2,691,479,492.05, reflecting a growth of 5.83% year-on-year[4] - The total number of ordinary shareholders at the end of the reporting period was 111,615[7] - The total equity attributable to shareholders reached CNY 2,691,479,492.05, up from CNY 2,543,262,304.13, reflecting an increase of approximately 5.8%[26] Expenses and Costs - Operating costs amounted to CNY 882.58 million, up from CNY 813.76 million, reflecting a year-over-year increase of 8.5%[31] - Financial expenses increased by 445.56% to CNY 36,639,191.28, mainly due to reduced exchange gains and increased interest expenses[13] - Research and development expenses were CNY 49.92 million, slightly up from CNY 47.29 million, indicating a year-over-year increase of 5.6%[31] - Research and development expenses for Q3 2019 were CNY 18.84 million, a decrease from CNY 22.41 million in the same period last year, indicating a reduction of 16%[39] Investments and Subsidies - The company received government subsidies amounting to ¥28,451,008.25 during the reporting period[5] - Investment income rose by 135.09% to CNY 6,104,881.66, primarily from increased investment income from a subsidiary[13] - Cash received from tax refunds increased significantly to ¥26,759,208.92 from ¥5,741,947.72, reflecting improved tax recovery processes[42] Other Financial Metrics - The weighted average return on net assets was 3.45%, an increase of 0.21% compared to the previous year[4] - The company's cash and cash equivalents increased to CNY 536,939,119.72 from CNY 487,132,872.39 year-over-year, reflecting a growth of approximately 10.5%[24] - The company achieved a gross profit margin of approximately 17.2% for the current period, compared to 20.0% in the previous period[33]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 1,765,904,990.30, representing a 4.39% increase compared to CNY 1,691,577,247.26 in the same period last year[10]. - Net profit attributable to shareholders was CNY 138,958,770.40, a significant increase of 44.64% from CNY 96,070,520.14 year-on-year[10]. - The net profit after deducting non-recurring gains and losses reached CNY 121,023,189.96, up 58.31% from CNY 76,446,194.26 in the previous year[10]. - The net cash flow from operating activities was CNY 305,847,862.87, showing a remarkable increase of 154.02% compared to CNY 120,402,159.93 in the same period last year[10]. - Basic and diluted earnings per share were both CNY 0.09, reflecting a 50.00% increase from CNY 0.06 in the previous year[10]. - Total assets at the end of the reporting period were CNY 5,082,137,824.75, a 7.44% increase from CNY 4,730,088,601.85 at the end of the previous year[10]. - Net assets attributable to shareholders amounted to CNY 2,618,570,968.23, which is a 2.96% increase from CNY 2,543,262,304.13 at the end of the previous year[10]. - The company achieved significant improvements in its semiconductor business, with effective cost control leading to a noticeable increase in gross margin and stable growth in performance[16]. - The semiconductor business saw sales revenue of RMB 362.91 million, an increase of 30.47% compared to the previous year, with a gross margin of 24.45%[28]. - The PCB business generated sales revenue of RMB 1,358.00 million, a slight decline of 0.76% year-on-year, with a gross margin of 31.94%[28]. Investments and Acquisitions - The company reported an investment income of RMB 3,981,762.87, accounting for 2.37% of total profit, primarily from investments in Aviv C&EMS and other companies[35]. - The company has acquired Fuchsberger PCB & Electronics and Spirit Circuits Ltd. with no significant impact on overall operations and performance[54]. - The company invested ¥79,215,176.39 in the second phase of the subsidiary Guangzhou Xingsen Quick Circuit Technology Co., Ltd., with a total investment of ¥221,759,370.29[43]. - The total investment amount for the reporting period was ¥126,813,214.25, a decrease of 21.44% compared to ¥161,417,992.93 in the same period last year[41]. Research and Development - The company has a professional R&D team of over 100 people and has been recognized as a "National High-tech Enterprise" and "Guangdong Province Innovative Enterprise"[21]. - The company filed 21 patent applications during the reporting period, including 11 invention patents, and received authorization for 38 patents[22]. - Research and development expenses rose by 17.81% to RMB 958.41 million, reflecting the company's commitment to innovation[30]. - The company plans to enhance its technological innovation and process improvement to strengthen its core competitive advantages in the PCB business[61]. Environmental Compliance - The company has implemented measures to ensure compliance with environmental protection standards, with all reported emissions within acceptable limits[96]. - The total wastewater discharge for the subsidiary Guangzhou Xingsen Quick Circuit Technology Co., Ltd. was 7.79 tons/year for chemical oxygen demand, 5.669 tons/year for ammonia nitrogen, and 0.00001 tons/year for total nickel, all compliant with discharge standards[96]. - The company has established a comprehensive environmental management system, including online monitoring for water quality and organic waste gas, to ensure compliance with local regulations[104]. - The company has upgraded its VOCs treatment process to include UV catalytic degradation, ensuring compliance with environmental standards and maintaining emissions at a height of 25 meters[103]. Financial Stability and Liquidity - The company's current ratio is 150.00%, an increase of 3.00% compared to the previous year[144]. - The debt-to-asset ratio stands at 46.02%, up by 2.08% from the previous year[144]. - The quick ratio improved to 128.00%, reflecting a 6.00% increase year-over-year[144]. - The company maintains a loan repayment rate of 100.00% and an interest payment rate of 100.00%[144]. - The company has received a credit rating of AA with a stable outlook from the rating agency[142]. Shareholder Information - The total number of shares outstanding is 1,487,907,504, with 84.85% being unrestricted shares[125]. - The largest shareholder, Qiu Xingya, holds 20.80% of the shares, totaling 309,472,766 shares[127]. - The company has not reported any significant changes in shareholder structure or major events during the reporting period[123]. - The company has not initiated any poverty alleviation programs during the reporting period and has no plans for future initiatives[122]. Operational Highlights - The company has established a one-stop service model, integrating design, manufacturing, and procurement to enhance customer collaboration and reduce project management costs[24]. - The company collaborates with over 4,000 high-tech enterprises globally, enhancing customer recognition and establishing itself as a key partner for leading semiconductor companies[26]. - The company has a monthly delivery capacity exceeding 25,000 varieties, achieving international advanced levels in flexible production management[25]. - The company plans to expand its market presence and invest in new technologies to drive future growth[157].

Financial Performance - The company's operating revenue for Q1 2019 was ¥852,099,106.73, representing a 6.09% increase compared to ¥803,214,511.49 in the same period last year[5] - Net profit attributable to shareholders was ¥37,030,554.52, a significant increase of 79.84% from ¥20,591,287.05 year-on-year[5] - The net profit after deducting non-recurring gains and losses reached ¥32,186,061.07, up 104.56% from ¥15,734,257.83 in the previous year[5] - Basic earnings per share were ¥0.02, doubling from ¥0.01 in the previous year[5] - Net profit attributable to the parent company for Q1 2019 was CNY 37,030,554.52, representing a 79.84% increase compared to CNY 20,591,287.05 in Q1 2018[14] - Net profit for the current period was ¥46,028,115.17, representing a significant increase of 64.51% compared to ¥27,972,934.41 in the previous period[28] - The company reported a total profit of ¥52,394,530.85, which is an increase of 48.39% from ¥35,300,895.94 in the previous period[28] - The total comprehensive income for the current period was ¥40,468,596.82, compared to ¥31,133,335.58 in the previous period[30] Cash Flow - The net cash flow from operating activities was ¥72,413,066.84, a remarkable turnaround from a negative cash flow of ¥12,774,126.27 in the same period last year, marking a 666.87% increase[5] - The company’s cash flow from operating activities increased by 81.35% to CNY 18,464,226.47, primarily due to an increase in receivables[16] - Total cash inflow from operating activities amounted to ¥847,793,175.09, while cash outflow was ¥775,380,108.25, resulting in a net cash inflow[34] - Cash flow from investment activities showed a net outflow of ¥26,259,975.94, compared to a larger outflow of ¥62,834,670.72 in the previous period[35] - Cash flow from financing activities resulted in a net outflow of ¥82,258,288.77, a notable increase in outflow compared to the previous period's outflow of ¥4,713,804.37[35] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,768,275,015.82, reflecting a 0.81% increase from ¥4,730,088,601.85 at the end of the previous year[5] - Total current assets as of March 31, 2019, amounted to CNY 2,182,002,580.62, a slight increase from CNY 2,137,486,236.76 at the end of 2018[21] - Current liabilities decreased to CNY 1,434,119,490.97 from CNY 1,456,384,294.78, a reduction of approximately 1.54%[22] - The company's total liabilities amounted to CNY 2,051,633,169.09, down from CNY 2,078,397,713.48, a decline of approximately 1.29%[23] - Total liabilities decreased from CNY 2,082,718,130.23 to CNY 2,078,397,713.48, a reduction of CNY 4,320,416.75[40] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 81,011[8] - Shareholders' equity increased to CNY 2,716,641,846.73 from CNY 2,651,690,888.37, representing a growth of about 2.45%[23] - The total equity attributable to shareholders of the parent company rose to CNY 2,602,022,342.59 from CNY 2,543,262,304.13, an increase of approximately 2.31%[23] Expenses and Income - Total operating costs amounted to ¥807,208,223.99, up 4.25% from ¥774,281,335.69 in the previous period[28] - Research and development expenses increased to ¥47,316,253.99, up 17.92% from ¥40,370,717.69 in the previous period[28] - The company recorded other income of ¥5,658,392.50, an increase from ¥4,168,300.00 in the previous period[28] - The company’s financial expenses decreased to ¥20,872,810.87 from ¥28,227,788.55 in the previous period, a reduction of 26.06%[28] - Investment income increased by 178.79% to CNY 1,793,993.51 from CNY 643,488.63 in the same period last year[14] Non-Recurring Items - The company reported non-recurring gains of ¥4,844,493.45 during the reporting period[6] - The company reported a 122.37% increase in asset impairment losses, totaling CNY 12,020,510.27, primarily due to increased inventory write-downs[16] Other Information - The first quarter report of Shenzhen Xingsen Quick Circuit Technology Co., Ltd. is unaudited[45] - The report was released on April 25, 2019[45] - The company is represented by its legal representative, Qiu Xingya[45] - No specific financial performance metrics or user data were provided in the report[45] - There are no details on future outlook or performance guidance in the report[45] - The report does not mention any new product or technology development[45] - There is no information regarding market expansion or mergers and acquisitions[45] - The report lacks any mention of new strategies[45] - The document does not provide any numerical data or percentages related to financial performance[45] - The report is categorized as a first quarter report for the year 2019[45]

Financial Performance - The company's operating revenue for 2018 was CNY 3,473,258,603.48, representing a 5.80% increase compared to CNY 3,282,964,797.69 in 2017[13] - Net profit attributable to shareholders for 2018 was CNY 214,720,816.25, a 30.33% increase from CNY 164,748,722.56 in 2017[13] - The net profit after deducting non-recurring gains and losses was CNY 171,837,584.21, which is a 32.83% increase from CNY 129,364,175.55 in 2017[13] - The basic earnings per share for 2018 was CNY 0.14, up 27.27% from CNY 0.11 in 2017[13] - The total assets at the end of 2018 were CNY 4,730,088,601.85, a 6.65% increase from CNY 4,435,336,473.83 at the end of 2017[13] - The net assets attributable to shareholders at the end of 2018 were CNY 2,543,262,304.13, reflecting a 6.16% increase from CNY 2,395,678,435.25 at the end of 2017[14] - The net cash flow from operating activities for 2018 was CNY 333,190,502.62, a decrease of 17.31% from CNY 402,936,004.96 in 2017[13] - The weighted average return on equity for 2018 was 8.66%, an increase of 1.81% from 6.85% in 2017[13] Revenue Breakdown - Total revenue for the first quarter was ¥803.21 million, with a peak of ¥912.38 million in the third quarter, showing a quarterly fluctuation[17] - Net profit attributable to shareholders was ¥20.59 million in Q1, increasing to ¥80.24 million in Q3, before dropping to ¥38.41 million in Q4[17] - The PCB business generated sales revenue of 2.632 billion yuan, with a year-on-year growth of 4.19% and a gross margin of 30.07%[40] - The IC packaging substrate business saw sales revenue of 236 million yuan, a significant increase of 64.05% year-on-year, contributing 6.80% to total revenue[42] - The military products business reported sales revenue of 217 million yuan, a decrease of 3.87% year-on-year, while the solid-state storage products from subsidiary Hunan Yuanke achieved revenue of 54.08 million yuan, up 214.59%[41] - Semiconductor revenue increased by 16.89% to ¥573,599,374.37, up from ¥490,726,987.66 in 2017, representing 16.51% of total revenue[45] Investment and R&D - The company filed a total of 124 patents during the reporting period, including 72 invention patents and 20 PCT international patent applications[33] - The company has established three provincial-level R&D institutions and a high-end central laboratory for comprehensive quality testing of PCB products[33] - The company has a professional design team of nearly 300 members, providing localized services across multiple cities and enhancing customer response times[35] - The company has invested 50 million yuan in research and development for innovative circuit solutions, aiming for a 15% increase in product offerings[110] - In 2018, the company's R&D investment amounted to 179,543,024.04 yuan, a decrease of 2.55% compared to 184,245,884.60 yuan in 2017[54] Market Position and Growth - The PCB industry in China is expected to grow at a rate higher than the global average, with a projected market size of $35.69 billion by 2022[24] - The global PCB market value reached approximately $63.55 billion in 2018, reflecting a year-on-year growth of 8.0%[22] - The company maintains a leading position in the PCB market with an average of 25,000 types of PCB orders per month, indicating strong competitive capability[25] - The global semiconductor market revenue was approximately $412.2 billion in 2017, with a year-on-year growth of 16%, and is projected to reach $477.9 billion in 2018[28] - The global PCB market is expected to grow to $65.8 billion in 2019, with a year-on-year increase of 3.5%, and projected to reach $71.8 billion by 2020[81] Dividend Policy - The company plans to distribute a cash dividend of CNY 0.60 per 10 shares to all shareholders[3] - The cash dividend for 2018 is an increase from CNY 0.30 per share in both 2016 and 2017, reflecting a commitment to enhancing shareholder returns[92] - The company's cash dividend payout ratio has increased from 27.09% in 2017 to 41.58% in 2018, indicating a stronger commitment to returning profits to shareholders[93] - The total cash dividend amount for 2018 represents 100% of the total profit distribution amount, emphasizing the company's focus on cash returns[94] Environmental and Social Responsibility - The company has passed the OHSAS 18001:2007 occupational health and safety certification and the ISO 14001:2015 environmental management certification[130] - The company has received multiple awards for its environmental protection efforts, including the title of "Green and Environmentally Friendly Excellent Enterprise" in 2018[131] - The company has implemented measures for energy conservation, emission reduction, and clean production[131] - The company has established a comprehensive supplier management system to ensure fair procurement processes[131] - The company has invested 4.33 million yuan in the poverty alleviation workshop project, benefiting 300 individuals from 98 impoverished households[134] Corporate Governance - The company has a well-established corporate governance structure to protect shareholder and creditor rights[130] - The company has committed to ensuring independent operations and decision-making, respecting the rights of minority shareholders[97] - The company has confirmed that there were no non-operating fund occupations by controlling shareholders during the reporting period[98] - The company has implemented a change in inventory accounting policy, adopting the standard cost method effective January 1, 2018, to enhance cost management[98] Employee Management - The total number of employees in the company is 5,061, with 3,057 in production, 1,031 in technology, and 284 in sales[196] - The total pre-tax remuneration for the board of directors and senior management is 1,194.1 million yuan, with the highest individual remuneration being 173.29 million yuan for the chairman and general manager[195] - The employee remuneration structure includes fixed salary, variable salary linked to performance, and allowances for specific work conditions[199] - The company emphasizes a performance-linked salary system, promoting a culture of meritocracy[197] Risk Management - The company faces risks from raw material price fluctuations, particularly copper, which has seen an increase of over $1,000 per ton since 2016, impacting production stability and profitability[85] - The company will focus on cost control and efficiency improvements to mitigate risks associated with macroeconomic fluctuations and market competition[82] - The company has implemented effective management mechanisms to address the challenges posed by rapid expansion and ensure operational efficiency[86]

深圳市兴森快捷电路科技股份有限公司 2018 年第三季度报告全文 深圳市兴森快捷电路科技股份有限公司 2018 年第三季度报告 股票简称：兴森科技 股票代码：002436 2018 年 10 月 1 深圳市兴森快捷电路科技股份有限公司 2018 年第三季度报告全文 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。 除下列董事外，其他董事亲自出席了审议本次季报的董事会会议 | | | 公司负责人邱醒亚、主管会计工作负责人凡孝金及会计机构负责人(会计主 管人员)郭抗声明：保证季度报告中财务报表的真实、准确、完整。 2 深圳市兴森快捷电路科技股份有限公司 2018 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 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） | 4,832,150,67 ...

深圳市兴森快捷电路科技股份有限公司 2018 年第三季度报告正文 证券代码：002436 证券简称：兴森科技 公告编号：2018-10-070 深圳市兴森快捷电路科技股份有限公司 2018 年第三季度报告正文 1 深圳市兴森快捷电路科技股份有限公司 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。 除下列董事外，其他董事亲自出席了审议本次季报的董事会会议 | 未亲自出席董事姓名 | 未亲自出席董事职务 | 未亲自出席会议原因 | 被委托人姓名 | | --- | --- | --- | --- | | 无 | | | | 公司负责人邱醒亚、主管会计工作负责人凡孝金及会计机构负责人(会计主 管人员)郭抗声明：保证季度报告中财务报表的真实、准确、完整。 2 深圳市兴森快捷电路科技股份有限公司 2018 年第三季度报告正文 第二节 公司基本情况 对公司根据《公开发行证券的公司信息披露解释性公告第 1 号——非经常性损益》定义界定的非经常性损 3 深圳市兴森快捷电路科 ...

Financial Performance - The company's operating revenue for the first half of 2018 was ¥1,691,577,247.26, representing a 1.87% increase compared to ¥1,660,538,934.55 in the same period last year[14]. - The net profit attributable to shareholders of the listed company decreased by 8.90% to ¥96,070,520.14 from ¥105,456,743.66 year-on-year[14]. - The net profit after deducting non-recurring gains and losses was ¥76,446,194.26, down 17.08% from ¥92,187,294.32 in the previous year[14]. - The net cash flow from operating activities was ¥120,402,159.93, a decrease of 7.18% compared to ¥129,720,009.68 in the same period last year[14]. - The basic earnings per share decreased by 14.29% to ¥0.06 from ¥0.07 in the same period last year[14]. - The diluted earnings per share also decreased by 14.29% to ¥0.06 from ¥0.07 year-on-year[14]. - The weighted average return on net assets was 3.93%, down from 4.34% in the previous year[14]. - The company reported a significant increase in R&D capabilities, with 39 patent applications (27 invention patents) filed during the reporting period[27]. - The company’s total assets reached CNY 464,103.53 million, reflecting a growth of 4.64% year-on-year[35]. - The total operating revenue for the first half of 2018 was CNY 1,691,577,247.26, representing a year-on-year increase of 1.87% compared to CNY 1,660,538,934.55 in the same period last year[45]. Business Segments - The company continues to focus on three main business lines: PCB, military products, and semiconductors, with a strong emphasis on customized services based on order conditions[21]. - The semiconductor business includes IC packaging substrates and semiconductor test boards, with a saturated production capacity and improved cost control leading to stable performance growth[22]. - The PCB business generated sales revenue of CNY 126,389.79 million, maintaining a gross margin of 31.26%[36]. - The military products business saw sales revenue of CNY 12,688.89 million, an increase of 16.95% year-on-year[38]. - The semiconductor packaging substrate business reported sales revenue of CNY 11,415.51 million, a significant growth of 64.61% compared to the previous year[39]. Research and Development - The company has established a one-stop service model that integrates design, manufacturing, and procurement, effectively reducing R&D cycles and procurement costs[29]. - The company has set up three provincial-level R&D institutions to enhance its technological innovation and product development capabilities[27]. - The company plans to continue expanding its semiconductor business and enhance its product offerings through innovation and R&D capabilities[31]. Financial Position - The total assets at the end of the reporting period were ¥4,641,035,270.72, an increase of 4.64% from ¥4,435,336,473.83 at the end of the previous year[14]. - The net assets attributable to shareholders of the listed company increased by 1.72% to ¥2,436,962,151.05 from ¥2,395,678,435.25 at the end of the previous year[14]. - The company’s total liabilities decreased by 63.51% for long-term payables, amounting to CNY 8,584,342.43, as a result of repayments to minority shareholders[43]. - The company’s cash and cash equivalents increased to ¥520,105,899.70, representing 11.21% of total assets, up from 8.99% last year, a change of 2.22%[51]. Environmental Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[107]. - The total wastewater discharge for the reporting period included 11.68 tons of chemical oxygen demand and 5.33 tons of ammonia nitrogen, both treated to meet standards[107]. - The company reported zero instances of exceeding pollutant discharge standards during the reporting period[107]. - The company has implemented measures to ensure compliance with environmental standards in wastewater and air emissions[108]. - The company has established a wastewater treatment station that processes 35 tons of wastewater annually[111]. Shareholder Information - The total number of shares before the recent changes was 1,487,907,504, with a decrease of 147,029,229 shares in limited sale conditions, resulting in 289,118,137 shares remaining[144]. - The largest shareholder, Qiu Xingya, holds 20.80% of the shares, totaling 309,472,766 shares, with a recent increase of 15,461,200 shares[150]. - The company has 82,344 ordinary shareholders at the end of the reporting period[149]. - The total number of shares held by directors, supervisors, and senior management increased from 299,942,890 to 316,041,790 shares, reflecting an increase of 16,098,900 shares[155]. Legal and Regulatory Matters - There are ongoing legal disputes involving the subsidiary, with amounts in dispute including 112.43 million yuan and 440 million yuan, with some cases still under review[84]. - The company has not experienced any major litigation or arbitration matters during the reporting period[84]. - The company has not faced any penalties or rectification issues during the reporting period[87]. Future Outlook - The company expects net profit attributable to shareholders for the first three quarters of 2018 to be between CNY 17.47 million and CNY 20.64 million, representing a growth of 10% to 30% compared to the same period in 2017[74]. - The company plans to optimize order structure and enhance process capabilities to mitigate the impact of rising costs[77]. - The company is exploring potential mergers and acquisitions to strengthen its market position[198].

Revenue and Profitability - The company's revenue for Q1 2018 was ¥803,214,511.49, representing a 2.74% increase compared to ¥781,765,613.10 in the same period last year[8] - Net profit attributable to shareholders decreased by 44.19% to ¥20,591,287.05 from ¥36,896,490.85 year-on-year[8] - Basic and diluted earnings per share both dropped by 50.00% to ¥0.01 from ¥0.02[8] - The company expects net profit attributable to shareholders for the first half of 2018 to be between CNY 73.82 million and CNY 94.91 million, representing a decrease of 30.00% to 10.00% compared to the same period in 2017[28] Cash Flow and Financial Position - The net cash flow from operating activities was negative at -¥12,774,126.27, a decline of 182.28% compared to ¥15,524,742.30 in the previous year[8] - Total assets at the end of the reporting period were ¥4,424,920,052.72, a slight decrease of 0.23% from ¥4,435,336,473.83 at the end of the previous year[8] - The net assets attributable to shareholders increased by 1.06% to ¥2,421,160,757.20 from ¥2,395,678,435.25[8] - Cash received from borrowings increased by CNY 96.37 million, a growth rate of 188.81%, primarily due to new bank loans[25] Operating Performance - Operating income increased by CNY 1.43 million, a growth rate of 236.76%, mainly due to gains from asset disposals and increased unrelated subsidies received[20] - Non-operating income for the period amounted to ¥4,857,029.22, primarily from government subsidies and other income[9] Asset Management - Construction in progress increased by 52.89% to ¥117,538,501.00, driven by new equipment purchases and project expenditures[17] - The company reported a significant decrease in interest receivables by 99.44%, down to ¥25,505.21 from ¥4,580,416.67[16] - The company reported a significant decrease in cash received from the disposal of fixed assets, intangible assets, and other long-term assets by CNY 10.68 million, a decline of 90.43%[24] Financial Expenses and Impairments - Financial expenses increased by CNY 22.36 million, a growth rate of 381.36%, mainly due to exchange losses from RMB to USD fluctuations and increased bond interest expenses[20] - Asset impairment losses increased by CNY 5.38 million, primarily due to goodwill impairment losses from subsidiary Harbor and increased bad debt provisions for accounts receivable[20] Other Financial Metrics - Other income increased by CNY 4.17 million, attributed to a change in accounting policy that reclassified government subsidies from non-operating income to other income[20] - Cash received from tax refunds increased by CNY 0.83 million, a growth rate of 51.20%, primarily due to increased cash from export tax rebates[24] - Cash paid for the purchase of fixed assets, intangible assets, and other long-term assets increased by CNY 41.47 million, a growth rate of 163.89%, mainly due to increased expenditures for new equipment and the second phase of the science city project[25] - The impact of exchange rate fluctuations on cash and cash equivalents decreased by CNY 9.26 million, a significant change of 1201.50% compared to the previous year[26]