Company Overview - Infinova is a global supplier of video surveillance solutions and products, established in 1993 in Princeton, New Jersey, USA [2] - The company entered the Chinese market in 1994 with its analog optical terminal [2] - Infinova went public on the Shenzhen Stock Exchange in 2010 and has received multiple industry awards [3] Financing Projects - In September 2015, the company planned to raise a total of CNY 752 million through a private placement of A-shares, with a maximum issuance of 86.7358 million shares at a base price of CNY 8.67 per share [3] - The funds are allocated to four major projects: Safe City Global Industrialization, Smart Home Global Industrialization, Internet+ Social Video Security Operation Service Platform, and Global Information Platform Construction [3] Market Expansion - In 2015, Infinova secured the Safe City project in Mumbai, India, leveraging its brand advantage [4] - The company is expanding its smart home business through Swann, which has 15,000 retail points globally [4] Performance Challenges - Swann's performance declined due to exchange rate fluctuations and aggressive pricing strategies from competitors in the U.S. online market [4] - The first quarter of 2016 saw a decline in performance, attributed to seasonal factors, with expectations for future performance to be disclosed in company announcements [5] Mergers and Acquisitions - Acquisitions of March and Swann have expanded Infinova's global vision and enhanced its security industry chain [5] - The company aims for a balanced domestic and international acquisition strategy to achieve rapid development [5] Core Competencies - Infinova's strengths include a global perspective, technological and R&D advantages, strong sales channels, brand strength, and a comprehensive product line [6] - The company focuses on key sectors such as Safe City, transportation, banking and retail chains, and residential security to create differentiated and value-added solutions [6]

Group 1: Company Acquisition and Market Strategy - The company acquired Beijing Pufit to leverage its internet marketing experience and expand into the global smart home market and marketing channels [2] Group 2: Industry Comparison and Growth - The security industry is experiencing continuous growth, maintaining an annual increase of 15%-20% [2] - The company primarily relies on project-based sales, which are significantly influenced by national macroeconomic conditions [2] Group 3: Performance Outlook and Employee Stock Plan - The company expects positive growth in its performance for 2016, with relevant announcements to be made [4] - The employee stock ownership plan is progressing according to the necessary approval procedures [4] Group 4: Impact of Currency Fluctuations - The company's financial statements are denominated in RMB, and the depreciation of the USD has a positive impact on the company [4]

Group 1: Investor Relations Activities - The investor relations activity was conducted on December 19, 2016, at the company's headquarters in Guanlan, Shenzhen [2] - Participants included representatives from Merrill Lynch, China Railway BaoYing Asset Management, and Guotai Junan Securities [2] Group 2: Employee Stock Ownership Plan - The second phase of the employee stock ownership plan is currently progressing through the necessary approval procedures [3] - Stakeholders are encouraged to pay attention to company announcements regarding this plan [3] Group 3: Acquisition of Beijing Pufit - The acquisition of Beijing Pufit aims to leverage its internet marketing experience to accelerate the growth of the smart home business [3] - This acquisition is part of the company's strategy to deepen its global market expansion [3] Group 4: 2016 Annual Performance Outlook - The company disclosed its third-quarter report on October 25, 2016, and anticipates growth in its annual performance for 2016 [3] - Stakeholders are advised to monitor the company's annual performance report [3] Group 5: Strategic Positioning - The company aims for rapid scaling through both organic growth and external acquisitions [3] - The goal is to strengthen the company and provide returns to shareholders and investors [4] Group 6: Impact of Currency Depreciation - Approximately 80% of the company's revenue is derived from overseas markets [4] - The depreciation of the Renminbi is expected to have a positive impact on the company's overall revenue for 2016 [4]

深圳英飞拓科技股份有限公司 2022 年第三季度报告 1 证券代码：002528 证券简称：英飞拓 公告编号：2022-071 深圳英飞拓科技股份有限公司 2022 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记 载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务 信息的真实、准确、完整。 3.第三季度报告是否经过审计 □是 否 深圳英飞拓科技股份有限公司 2022 年第三季度报告 一、主要财务数据 （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 | --- | --- | --- | --- | --- | |------------------------------------------------------|---------------------|--------------------|-------- ...

Financial Performance - The company's operating revenue for the reporting period was ¥828,155,489.54, a decrease of 46.22% compared to ¥1,539,805,372.43 in the same period last year[41]. - The net profit attributable to shareholders of the listed company was -¥129,696,137.42, representing an increase in loss of 11.22% from -¥116,614,718.63 year-on-year[41]. - The net cash flow from operating activities was ¥138,168,004.38, showing a growth of 7.17% compared to ¥128,920,764.81 in the previous year[41]. - Total assets at the end of the reporting period were ¥5,796,330,104.80, down 4.71% from ¥6,082,898,785.75 at the end of the previous year[41]. - The net assets attributable to shareholders of the listed company decreased by 5.10% to ¥2,209,462,582.39 from ¥2,328,133,938.87 at the end of the previous year[41]. - The basic earnings per share were -¥0.1082, a decline of 11.20% from -¥0.0973 in the same period last year[41]. - The diluted earnings per share were also -¥0.1082, reflecting the same percentage decrease as the basic earnings per share[41]. - The weighted average return on net assets was -5.72%, a decrease of 2.60% compared to -3.12% in the previous year[41]. - The company achieved operating revenue of CNY 828.16 million, a decrease of 46.22% year-on-year[62]. - The total profit was CNY -132 million, down 21.40% year-on-year, with net profit attributable to shareholders at CNY -130 million, a decline of 11.22%[52]. Strategic Focus and Transformation - The company focused on strategic transformation, optimizing business layout, and enhancing core technology competitiveness during the reporting period[52]. - The company has shifted its strategic focus from being a professional security product supplier to a provider of smart city and smart home solutions, construction, and operation services[92]. - The company is focusing on the development of smart city solutions, including smart security, education, and government services, to enhance its integrated business capabilities[105]. - The company has successfully transformed into a provider of smart city and smart home solutions, with several customized information systems still in the research and discussion phase[97]. - The company plans to expand its smart city information construction projects, focusing on smart security, smart education, and smart governance[97]. Risks and Challenges - The company reported a significant impact from the ongoing COVID-19 pandemic, which may lead to project delays and increased implementation costs, affecting overall performance[10]. - The company faces risks related to rapid technological updates in the software and information technology services industry, which could affect future development if not addressed[11]. - The company acknowledges the risk of long accounts receivable cycles, which could impact cash flow and operational performance if not managed effectively[17]. - The company is actively involved in smart city construction but faces potential risks related to government debt and economic uncertainties due to the pandemic[16]. - The company emphasizes the importance of understanding and adapting to the legal, political, and economic environments in international operations, while focusing on domestic business[114]. Investment and R&D - The company has increased its R&D investment to keep pace with industry developments, although it still faces risks related to intellectual property disputes[18]. - The company is increasing R&D investment to keep up with industry technology trends and improve product performance[113]. - The company has implemented talent recruitment and training to strengthen its management and technical capabilities in response to business transformation risks[113]. Cash Flow and Assets - The company reported a significant decrease in cash and cash equivalents, with a net decrease of CNY 642 million, primarily due to increased structured deposit purchases[62]. - The company's cash and cash equivalents decreased by 10.03% to approximately ¥544.05 million, representing 9.39% of total assets[72]. - The company's short-term borrowings decreased by 1.61% to approximately ¥733.22 million, accounting for 12.65% of total liabilities[72]. - The long-term borrowings increased significantly by 8.24% to approximately ¥780.00 million, representing 13.46% of total liabilities[72]. Corporate Governance and Compliance - The company has not disclosed any significant new product developments or market expansion strategies during this reporting period[50]. - The company has not made any significant equity investments during the reporting period, maintaining a focus on existing projects[81]. - The company has not reported any leasing projects that contributed to more than 10% of its total profit during the reporting period[159]. - The company has not reported any significant changes in shareholding during the reporting period[175]. - The company has not disclosed any impacts on earnings per share or net asset value due to share changes[178]. Shareholder Information - The total number of shares after the recent changes is 1,198,675,082, with 12.70% being restricted shares and 87.30% being unrestricted shares[178]. - The largest shareholder, Shenzhen Investment Holdings Co., Ltd., holds 26.35% of the shares, totaling 315,831,160 shares[184]. - The top ten shareholders include a mix of state-owned, overseas, and individual investors, indicating diverse ownership[187]. - The company has a total of 53,575 shareholders, with significant holdings concentrated among the top shareholders[184]. Guarantees and Financial Management - The company has provided guarantees totaling CNY 25.05 million for its subsidiary, Yingfit Intelligent, with a guarantee period of 1 year[162]. - The company has also issued guarantees of CNY 6.6 million for Yingfit System, with a guarantee period extending until December 31, 2024[162]. - The total approved guarantee amount during the reporting period reached 100,977.4 million, with actual guarantees amounting to 46,828.73 million[168]. - The company engaged in entrusted financial management with a total amount of 111,000 million, and an outstanding balance of 74,000 million[170]. Miscellaneous - The company has not reported any significant environmental penalties or issues during the reporting period[136]. - There were no major litigation or arbitration matters reported during the period[145]. - The company did not engage in any significant related party transactions during the reporting period[147]. - The half-year financial report was not audited[143].

Financial Performance - The company's operating revenue for Q1 2022 was ¥366,856,192.77, a decrease of 52.32% compared to ¥769,410,393.61 in the same period last year[6]. - The net profit attributable to shareholders was -¥88,385,140.24, representing a decline of 32.33% from -¥66,790,903.49 year-on-year[6]. - Total revenue for the current period is CNY 366,856,192.77, a decrease of 52.4% compared to CNY 769,410,393.61 in the previous period[30]. - The net loss for the current period is CNY -88,592,482.74, compared to a net loss of CNY -67,543,555.28 in the previous period[33]. - The company reported a net loss attributable to shareholders of approximately 88.09 million, compared to a loss of 57.08 million in the previous period, representing an increase in losses[37]. - Basic and diluted earnings per share were both -0.0737, compared to -0.0557 in the previous period, indicating a worsening performance[37]. Cash Flow - The net cash flow from operating activities was ¥63,088,440.32, down 47.86% from ¥120,998,833.91 in the previous year[6]. - The net cash flow from operating activities was 63.09 million, down from 120.99 million in the previous period, reflecting a decrease of about 47.8%[41]. - The cash inflow from operating activities totaled approximately 848.89 million, while cash outflow was 785.80 million, resulting in a net cash flow of 63.09 million[41]. - The net cash flow from financing activities was 86.12 million, slightly up from 82.90 million in the previous period, showing a modest improvement[44]. - The company received approximately 20.23 million in cash related to financing activities, indicating ongoing financial operations[44]. Assets and Liabilities - Total assets at the end of the reporting period were ¥6,174,260,464.72, an increase of 1.50% from ¥6,082,898,785.75 at the end of the previous year[6]. - Total liabilities are CNY 3,942,017,850.33, up from CNY 3,762,391,020.77 in the previous period[29]. - The company's equity attributable to shareholders is CNY 2,240,044,431.50, down from CNY 2,328,133,938.87 in the previous period[29]. - Long-term borrowings increased to CNY 417,600,000.00 from CNY 317,800,000.00 in the previous period[29]. Investments and Expenses - The net cash flow from investing activities was -¥738,705,226.49, a significant increase in outflow compared to -¥8,764,922.11 in the previous year, mainly due to the purchase of structured deposits[12]. - The cash outflow for investing activities was approximately 740.11 million, significantly higher than the previous period's outflow of 9.54 million, reflecting increased investment activities[41]. - Research and development expenses decreased by 42.67% to ¥28,378,159.24, reflecting a reduction in the scope of consolidation[10]. - Research and development expenses amount to CNY 28,378,159.24, a decrease of 42.6% from CNY 49,497,279.25 in the previous period[33]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 56,032[14]. - The largest shareholder, Shenzhen Investment Holdings Co., Ltd., holds 26.35% of shares, totaling 315,831,160 shares[14]. - The company raised a total of 751,999,998.12 RMB from a private placement, with a net amount of 733,084,019.60 RMB after expenses[19]. - As of March 31, 2022, the company has utilized 796,033,646.31 RMB of the raised funds, exceeding the total raised amount due to interest income[19]. - The remaining balance of raised funds as of March 31, 2022, is 23,030,294.99 RMB[19]. Inventory and Receivables - The company reported a significant increase in accounts receivable, which rose by 303.35% to ¥5,517,997.64 due to an increase in commercial acceptance bills[10]. - The total amount of accounts receivable is 1,350,793,734.08 RMB, down from 1,467,482,265.71 RMB[23]. - The company's inventory stands at 549,538,914.07 RMB, slightly up from 534,107,241.63 RMB at the beginning of the year[23]. - The company reported a significant decrease in cash received from sales of goods and services, totaling approximately 681.82 million, compared to 1.28 billion in the previous period, a decline of about 46.5%[38].

Financial Performance - The company reported a significant decline in operating scale and incurred substantial losses in 2021, with goodwill impairment impacting financial performance [4]. - The company's revenue for 2021 was ¥2,935,662,012.96, a decrease of 43.95% compared to ¥5,237,232,133.79 in 2020 [36]. - The net profit attributable to shareholders for 2021 was -¥1,435,485,570.65, representing a decline of 1,740.55% from a profit of ¥87,500,033.01 in 2020 [36]. - The basic earnings per share for 2021 was -¥1.1976, compared to ¥0.0730 in 2020, reflecting a significant drop [36]. - The weighted average return on net assets was -46.88% in 2021, down from 2.31% in 2020 [36]. - The company reported a significant decrease in net profit after deducting non-recurring gains and losses, amounting to -¥1,509,764,089.31 in 2021 [36]. - The total profit amounted to -1.428 billion yuan, a year-on-year decrease of 1,426.97% [103]. - The net profit attributable to shareholders was -1.435 billion yuan, with goodwill impairment of 715 million yuan, representing a year-on-year decline of 1,740.55% [103]. Cash Flow and Assets - The company ended the year with a cash balance of RMB 1.18 billion, indicating a positive cash flow from operations despite the losses [4]. - The net cash flow from operating activities improved to ¥118,531,850.94 in 2021, a 120.74% increase from -¥571,401,705.39 in 2020 [36]. - The company reported a significant increase in cash and cash equivalents, with a net increase of ¥473,015,624.78, reflecting a growth of 323.58% [140]. - The company's total assets included cash and cash equivalents of ¥1,181,123,792.29, representing 19.42% of total assets, up from 7.18% at the beginning of the year [146]. - The company has significantly reduced long-term financing business, enhancing operational cash flow to support sustainable development [100]. Strategic Focus and Business Transformation - In 2022, the company aims to focus on the national "digital economy" and "new infrastructure" strategies, emphasizing quality and efficiency improvements [5]. - The management plans to enhance core technological competitiveness and actively explore new markets to boost profitability [5]. - The company is focused on transforming its business model to enhance overall competitiveness and service quality [4]. - The company is committed to integrating advanced technologies such as AI, big data, cloud computing, and 5G into its business model [4]. - The company has undergone changes in its business scope, focusing on smart devices, electronic products, and related software development since July 2020 [31]. - The company is promoting XaaS-based RMR (Recurring Monthly Revenue) business, targeting large chain stores and smart home users, with plans for significant expansion in smart cities and smart parks [82]. - The company aims to improve operational efficiency and reduce costs through a comprehensive data governance service based on a BIM model for smart buildings [90]. Market and Industry Position - The company is focused on the smart city sector, which is projected to grow significantly, with an expected investment scale of approximately $38.92 billion by 2023 [49]. - The internet advertising market in China reached approximately ¥766.60 billion in 2020, with a year-on-year growth of 18.6% [50]. - The company operates in the mid-to-high-end differentiated service sector, with brands including Infinova, March Networks, Swann, and Sinponet, and has a mature global R&D, operation, and sales network [54]. - The company has been recognized in the global top 50 by A&S Security Automation for several consecutive years and received multiple awards in 2021, including the "Outstanding Contribution Award for the 2020 Smart Project Construction" and "Top Ten Smart Security Brands in China" [54]. Research and Development - The company has established global R&D centers in Shenzhen, Hangzhou, Ottawa, and Melbourne, focusing on the integration of AI, big data, and cloud computing technologies in smart city applications [94]. - The company reported that the top five customers accounted for 23.43% of total annual sales, with total sales amounting to CNY 687,718,011.67 [123]. - The company has filed a patent for a high-altitude object detection alarm system based on computer vision, further enriching its intelligent product portfolio [133]. - In 2021, the company's R&D investment amounted to ¥212,252,588.87, a decrease of 4.42% compared to ¥222,060,758.22 in 2020, while the R&D investment as a percentage of operating revenue increased from 4.24% to 7.23% [139]. Challenges and Risks - The company acknowledges external challenges such as geopolitical tensions, recurring COVID-19 outbreaks, and regulatory pressures in various sectors [4]. - The company faced a substantial loss in net profit due to impairment losses on goodwill and credit losses, leading to a discrepancy between cash flow from operations and net profit [143]. - The company has faced challenges in business integration among its subsidiaries, impacting project timelines [173]. Investment and Project Management - The total committed investment for the "Safe City Global Industrialization Project" is 29,878.70 million, with an adjusted total investment of 15,884.04 million, achieving 100% investment progress [166]. - The company has adjusted the investment strategy for the "Smart Home Global Industrialization Project" and allocated 282.54 million to the "Smart City Information Technology Construction Project" instead [169]. - The company has terminated the "Internet + Social Video Security Operation Service Platform Project" due to strategic shifts towards smart city and smart home solutions, reallocating the remaining funds to working capital [169]. - The company has made strategic adjustments to its fundraising projects to align with its long-term development strategy [182].

深圳英飞拓科技股份有限公司 2021 年第三季度报告 □ 是 √ 否 证券代码：002528 证券简称：英飞拓 公告编号：2021-059 深圳英飞拓科技股份有限公司 2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、 误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信 息的真实、准确、完整。 3.第三季度报告是否经过审计 □ 是 √ 否 重要风险提示: 公司以往收购股权形成一定金额的商誉，被收购子公司的经营状况受行业市场环境变化的影响，其所 在资产组的商誉存在减值风险。本季度报告未考虑可能存在的商誉减值。2021 年度商誉是否减值及减值准 备计提的金额将由公司聘请的具备证券期货从业资格的评估机构及审计机构进行评估并进行减值测试和 审计后确定。 一、主要财务数据 (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 | ...

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the first half of 2021, representing a year-on-year growth of 25%[1] - The company's operating revenue for the first half of 2021 was CNY 1,539,805,372.43, a decrease of 8.47% compared to the same period last year[34] - The net profit attributable to shareholders of the listed company was CNY -116,614,718.63, representing a decline of 49.56% year-on-year[34] - The company reported a total loss of CNY 1.09 billion, a decrease of 28.79% in total profit compared to the previous year[45] - The company's operating revenue for the current period is ¥1,539,805,372.43, a decrease of 8.47% compared to ¥1,682,219,475.12 in the same period last year[55] Cash Flow and Assets - The net cash flow from operating activities improved significantly to CNY 128,920,764.81, a 146.97% increase compared to the previous year[34] - Cash and cash equivalents increased to ¥666,610,442.05, representing an 8.73% increase compared to the previous period[65] - The total assets at the end of the reporting period were CNY 7,636,940,924.99, down 1.33% from the end of the previous year[34] - The total current assets decreased to ¥4,319,931,637.10 from ¥4,469,399,627.27, reflecting a decline of about 3.4%[186] - The company's total liabilities increased slightly to ¥3,966,481,305.85 from ¥3,939,778,528.80, showing a growth of about 0.7%[189] Research and Development - The company is investing heavily in R&D, with a budget allocation of 300 million RMB for new technologies and solutions[1] - Continuous R&D investment is being made to integrate AI, big data, cloud computing, and 5G technologies into smart city applications[49] - The company's R&D investment increased by 28.04% to ¥107,196,612.85 from ¥83,721,455.85 year-on-year[55] - The company has established an open innovation platform, focusing on AI algorithms, imaging, and IoT technologies, to enhance internal R&D capabilities[52] Market Expansion and Strategy - User data indicates that the active user base has expanded to 3 million, reflecting a 15% increase compared to the previous period[1] - The company has provided a positive outlook for the second half of 2021, projecting a revenue growth of 20% to 30%[1] - Market expansion efforts include entering two new international markets, aiming for a 10% market share within the first year[1] - The company is considering strategic acquisitions to enhance its technology portfolio, with a budget of 500 million RMB earmarked for potential deals[1] Risk Management - The company has identified potential risks related to international operations, particularly in North America and Europe, due to geopolitical tensions[1] - The company emphasizes the importance of understanding and adapting to the legal, political, and economic environments in international operations to mitigate risks[85] - The company is actively managing foreign exchange risks through various hedging strategies while ensuring safety and liquidity[85] Corporate Governance and Management - A focus on improving internal management systems is underway to support the growing scale of operations and ensure effective decision-making[1] - The management has emphasized the importance of talent acquisition, particularly in AI and data analytics, to support business transformation[1] - The company has implemented a responsibility system for operational goals, signing responsibility agreements with domestic subsidiaries and tracking execution dynamically to enhance management control[85] Shareholder and Stock Options - The company plans to implement a stock option incentive plan, granting 48 million stock options with an exercise price of 3.81 CNY per share[95] - The company has adjusted the number of stock options granted under the incentive plan from 42.01 million to 41.18 million due to changes in eligible participants[97] - The company approved the cancellation of 12.354 million stock options due to unmet exercise conditions for 182 incentive targets and 2.995 million stock options for 28 reserved targets[99] Environmental and Legal Compliance - The company reported no significant environmental issues or administrative penalties during the reporting period[108] - There were no major lawsuits or arbitration matters during the reporting period[119] - The company did not engage in any significant related party transactions during the reporting period[120]

Revenue and Profitability - Revenue for Q1 2021 was CNY 769,410,393.61, an increase of 7.34% compared to CNY 716,771,598.57 in the same period last year[8] - Net profit attributable to shareholders was a loss of CNY 66,790,903.49, a decrease of 27.80% from a loss of CNY 52,262,874.14 year-over-year[8] - Basic and diluted earnings per share were both CNY -0.0557, a decline of 27.80% from CNY -0.0436 in the same period last year[8] - The company reported a total comprehensive loss of -57,469,925.13, compared to -33,647,755.25 in the previous period[66] - Total comprehensive income decreased to -17,048,456.69 from -10,807,965.64 year-over-year[73] Cash Flow - Net cash flow from operating activities improved to CNY 120,998,833.91, a significant increase of 197.72% compared to a negative cash flow of CNY 123,822,606.07 in the previous year[8] - The company's cash and cash equivalents increased by 51.08% to ¥848,029,114.20 from ¥561,326,172.49 due to increased sales receipts[22] - The net cash flow from financing activities turned positive at 82,899,709.52 compared to -133,140,468.74 in the previous period[80] - Cash inflow from operating activities increased to 1,394,529,568.39 compared to 888,991,033.18 in the previous period[78] - Net cash flow from investment activities improved to 164,953,665.23 from -95,848,202.51 year-over-year[84] Assets and Liabilities - Total assets at the end of the reporting period were CNY 7,786,661,735.36, reflecting a slight increase of 0.60% from CNY 7,740,212,104.67 at the end of the previous year[8] - The total liabilities amounted to CNY 4,042,284,953.76, compared to CNY 3,939,778,528.80 in the previous year, indicating an increase of about 2.6%[47] - The company's long-term borrowings increased to ¥1,165,928,186.00 from ¥1,010,991,199.35, indicating a rise in financing activities[41] - The total current liabilities decreased to CNY 3,328,344,235.61 from CNY 3,258,963,045.88, a reduction of about 2.1%[46] - Non-current liabilities totaled CNY 713,940,718.15, compared to CNY 680,815,482.92 in the previous year, showing an increase of about 4.9%[46] Shareholder Information - The company reported a total of 42,370 shareholders at the end of the reporting period[11] - The largest shareholder, Shenzhen Investment Holdings, held 26.35% of the shares, totaling 315,831,160 shares[12] - JHL INFINITE LLC and Jeffrey Zhao Huai Liu held 16.39% and 16.64% of the shares, respectively, with significant portions pledged[12][15] - The company did not engage in any repurchase agreements among the top 10 shareholders during the reporting period[19] Research and Development - Research and development expenses rose by 30.95% to ¥49,497,279.25 from ¥37,799,222.57 year-on-year[22] - Research and development expenses increased to 49,497,279.25 from 37,799,222.57, reflecting a focus on innovation[62] Inventory and Receivables - The company's inventory increased to CNY 5,022,984.86 from CNY 4,079,814.98, representing a growth of approximately 23.1%[48] - The accounts receivable decreased to CNY 172,504,287.30 from CNY 204,141,439.38, indicating a decline of about 15.5%[48] Financial Performance - Operating costs amounted to 2,020,533.27, down from 8,186,393.64 in the previous period[67] - The total operating profit was -65,923,608.18, worsening from -54,196,971.37 in the previous period[62] - The company incurred financial expenses of 14,207,643.50, a decrease from 22,558,543.47 in the previous period[62] - Other income for the period was 3,132,916.23, up from 2,343,602.92 in the previous period[62] Audit and Reporting - The first quarter report for 2021 was not audited[99]