Financial Performance - The company's operating revenue for Q1 2020 was ¥26,418,046.94, a decrease of 42.46% compared to ¥45,913,365.99 in the same period last year[8] - The net profit attributable to shareholders was ¥1,252,521.12, down 74.47% from ¥4,905,807.97 year-on-year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥471,594.35, a decline of 89.64% compared to ¥4,551,406.07 in the previous year[8] - Basic and diluted earnings per share were both ¥0.02, down 71.43% from ¥0.07 in the previous year[8] - Operating revenue decreased by 42.46% to ¥26,418,046.94 from ¥45,913,365.99, primarily due to the impact of the COVID-19 pandemic and reduced downstream customer demand[16] - Operating costs fell by 44.70% to ¥15,266,203.18 from ¥27,605,516.16, mainly as a result of decreased operating revenue[16] - Comprehensive income for the current period totals CNY 1,624,627.54, down from CNY 4,507,372.34 in the previous period[43] - Operating profit for the current period is CNY 2,177,555.37, a decrease from CNY 6,056,117.02 in the previous period[42] - The company reported a tax expense of CNY 853,656.30 for the current period, down from CNY 1,151,945.10 in the previous period[42] Cash Flow - The net cash flow from operating activities increased by 14.91% to ¥14,373,482.01 from ¥12,508,691.13 in the same period last year[8] - Net cash flow from investing activities was ¥22,103,199.07, a significant increase from -¥295,238.00, primarily due to the recovery of bank financial products[16] - The net cash flow from operating activities for the first quarter was CNY 14,373,482.01, an increase of 14.9% compared to CNY 12,508,691.13 in the previous year[50] - Total cash inflow from investment activities was CNY 25,205,684.93, while cash outflow was CNY 3,102,485.86, resulting in a net cash flow of CNY 22,103,199.07, compared to a negative cash flow of CNY 295,238.00 in the previous year[50] - The net cash flow from financing activities was negative CNY 111,057.92, a significant decrease from a positive cash flow of CNY 9,754,225.01 in the previous year[51] - The total cash and cash equivalents at the end of the period amounted to CNY 125,581,882.72, up from CNY 116,008,407.91 in the previous year, reflecting a net increase of CNY 37,244,296.45[51] - Cash outflow from operating activities was CNY 4,821,346.08, a decrease from CNY 19,906,461.96 in the previous year, showing improved operational efficiency[52] - The company received CNY 22,000,000.00 from investment recoveries, contributing to a strong cash inflow from investment activities[54] - The cash flow from financing activities included CNY 10,000,000.00 from borrowings, which was not present in the previous year[54] - The impact of exchange rate changes on cash and cash equivalents was CNY 878,673.29, compared to a negative impact of CNY 955,625.75 in the previous year, indicating improved currency stability[51] Assets and Liabilities - The total assets at the end of the reporting period were ¥490,489,708.35, a slight decrease of 0.19% from ¥491,410,105.70 at the end of the previous year[8] - The net assets attributable to shareholders increased by 0.36% to ¥449,247,395.14 from ¥447,622,767.60 at the end of the previous year[8] - Total non-current assets decreased to CNY 265,521,455.89 from CNY 268,907,926.70, a reduction of about 1.4%[33] - Total liabilities decreased to CNY 41,242,313.21 from CNY 43,787,338.10, indicating a decline of approximately 5.8%[34] - The company reported a decrease in current liabilities to CNY 40,822,216.54 from CNY 43,319,687.60, a decline of approximately 11.5%[34] - The total equity attributable to shareholders increased to CNY 449,247,395.14 from CNY 447,622,767.60, showing a growth of about 0.4%[35] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 4,389[11] - The largest shareholder, Haolilai Holdings Limited, holds 42.51% of the shares, totaling 28,348,040 shares[11] Government Support - The company received government subsidies amounting to ¥819,874.40 during the reporting period[9] - Other income rose by 84.67% to ¥819,874.40 from ¥443,966.58, mainly due to increased government subsidies[16] Miscellaneous - The company did not undergo an audit for the first quarter report, which may affect the reliability of the financial data presented[55] - The company experienced a 168.38% increase in prepayments to ¥3,268,511.52 from ¥1,217,844.91, primarily due to prepayments for testing fees and supplier payments[15] - Financial expenses decreased by 149.54% to -¥459,193.84 from ¥926,963.42, mainly due to reduced bank borrowings and increased foreign exchange gains[16] - The company’s inventory remained stable at CNY 33,982,086.95 compared to CNY 33,542,726.86, reflecting a marginal increase of about 1.3%[32] - The company’s retained earnings increased to CNY 183,393,828.09 from CNY 182,141,306.97, an increase of approximately 0.7%[35] - Research and development expenses for the current period amount to CNY 1,694,516.13, slightly down from CNY 1,855,376.95 in the previous period[41]

Financial Performance - Operating revenue for the reporting period was ¥38,460,224.50, a decrease of 11.70% year-on-year[7] - Net profit attributable to shareholders was ¥4,555,377.37, reflecting a slight increase of 0.64% compared to the same period last year[7] - Basic earnings per share remained stable at ¥0.07, with a year-to-date decrease of 8.00% to ¥0.23[7] - The weighted average return on equity was 1.03%, down by 0.03% from the previous year[7] - Total operating revenue for Q3 2019 was CNY 38,460,224.50, a decrease of 11.5% from CNY 43,556,144.28 in the same period last year[41] - Net profit for Q3 2019 was CNY 4,555,377.37, slightly up from CNY 4,526,521.40 in Q3 2018, representing a 0.6% increase[42] - Total comprehensive income for Q3 2019 was CNY 5,028,575.70, down from CNY 5,343,549.54 in the previous year, reflecting a decrease of 5.9%[43] - Total profit for Q3 2019 was ¥18,760,733.01, down 10.5% from ¥20,966,628.57 in the same quarter last year[50] Cash Flow - Net cash flow from operating activities decreased by 28.05% to ¥5,410,023.75[7] - Net cash flow from operating activities rose by 132.73% to ¥21,930,034.84, primarily due to increased cash received from sales[16] - Cash flow from operating activities included cash received from sales of goods and services amounting to ¥119,284,041.21, compared to ¥108,048,269.94 in the previous year[57] - The net cash flow from operating activities for Q3 2019 was CNY 21,930,034.84, an increase of 132.6% compared to CNY 9,423,034.63 in the same period last year[58] - Total cash inflow from operating activities amounted to CNY 129,976,888.99, up from CNY 118,432,672.24 year-on-year[58] - Cash outflow from operating activities was CNY 108,046,854.15, slightly down from CNY 109,009,637.61 in the previous year[58] - The ending balance of cash and cash equivalents was CNY 106,921,224.01, an increase from CNY 93,745,747.23 year-on-year[59] Assets and Liabilities - Total assets at the end of the reporting period reached ¥492,653,887.72, an increase of 1.88% compared to the previous year[7] - Total current assets decreased to CNY 223,253,940.80 from CNY 245,906,408.24, a decline of approximately 9.5% year-over-year[32] - Total non-current assets increased to CNY 269,399,946.92 from CNY 237,647,076.50, an increase of approximately 13.4%[32] - Total current liabilities decreased to CNY 47,490,098.19 from CNY 49,314,571.28, a decline of approximately 3.7%[33] - Total liabilities decreased to CNY 48,126,411.10 from CNY 50,032,361.37, a reduction of about 3.8%[33] - Total equity increased to CNY 444,527,476.62 from CNY 433,521,123.37, reflecting a growth of approximately 2.3%[34] Shareholder Information - The company reported a total of 5,044 common shareholders at the end of the reporting period[11] - The largest shareholder, Haolilai Holdings Limited, holds 42.52% of the shares, totaling 28,350,040 shares[11] - There were no significant changes in the shareholding structure among the top ten shareholders during the reporting period[12] Other Financial Metrics - The company received government subsidies amounting to ¥2,398,705.41 during the reporting period[8] - Prepayments increased by 710.84% to ¥7,996,641.72 due to increased advance payments for renovation and inspection services[15] - Other receivables decreased by 90.27% to ¥3,941,809.94 as investment intention funds were converted to other equity instruments[15] - Financial expenses decreased by 73.98% to -¥368,839.06, mainly due to reduced exchange gains[16] - Investment income dropped by 100% to ¥0 as no financial products were purchased during the reporting period[16] - Other current liabilities surged by 9,854.42% to ¥525,593.29 due to increased accrued sales commissions[15] - The company reported a significant decrease in investment properties by 88.29% to ¥7,154,966.29, as these were transferred back to fixed assets and intangible assets[15] Legal Matters - The company is currently involved in a lawsuit related to a fire incident, with no specific claim amount disclosed yet[19] - The company has not engaged in any entrusted wealth management activities during the reporting period[26] Research and Development - Research and development expenses were CNY 2,203,679.82, consistent with CNY 2,201,568.51 in the same quarter last year[41] - Research and development expenses rose to ¥6,168,016.16, an increase of 11.4% from ¥5,536,783.13 year-over-year[48]

好利来（中国）电子科技股份有限公司 2019 年半年度报告全文 好利来（中国）电子科技股份有限公司 2019 年半年度报告 2019 年 08 月 1 好利来（中国）电子科技股份有限公司 2019 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的 真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和 连带的法律责任。 公司负责人杨力、主管会计工作负责人张广雁及会计机构负责人(会计主管 人员)陈梓华声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 本报告书所涉及公司未来计划等前瞻性陈述，不构成公司对投资者及相关 人士的实质承诺，投资者及相关人士均应对此保持足够的风险认识，并且应当 理解计划、预测与承诺之间的差异，敬请投资者及相关人士注意投资风险。 公司在本报告书"第四节经营情况讨论与分析"之"十、公司面临的风险和应 对措施"部分，详细描述了公司经营中可能存在的风险，敬请投资者及相关人士 关注相关内容。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | 目录 | | --- ...

Financial Performance - The company's revenue for Q1 2019 was CNY 45,913,365.99, representing an increase of 18.56% compared to CNY 38,726,715.89 in the same period last year[8] - Net profit attributable to shareholders was CNY 4,905,807.97, up 15.42% from CNY 4,250,309.72 year-on-year[8] - The net profit after deducting non-recurring gains and losses was CNY 4,551,406.07, reflecting a growth of 23.29% compared to CNY 3,691,658.19 in the previous year[8] - Basic earnings per share increased to CNY 0.07, up 16.67% from CNY 0.06 in the previous year[8] - Total operating revenue for Q1 2019 was CNY 45,913,365.99, an increase of 18.4% compared to CNY 38,726,715.89 in the same period last year[43] - Net profit for Q1 2019 reached CNY 4,905,807.97, representing a 15.4% increase from CNY 4,250,309.72 in Q1 2018[45] - The company reported a total comprehensive income of CNY 4,507,372.34 for Q1 2019, compared to CNY 3,441,978.75 in Q1 2018[46] - The company reported a total comprehensive income of -1,429,535.03 CNY for the first quarter, compared to 3,092,671.45 CNY in the same period last year[50] Cash Flow - The net cash flow from operating activities was CNY 12,508,691.13, a significant improvement from a negative CNY 6,283,932.62 in the same period last year, marking a change of -299.06%[8] - Cash flow from operating activities generated a net inflow of 12,508,691.13 CNY, a recovery from a net outflow of -6,283,932.62 CNY in the previous year[53] - The cash outflow from operating activities totaled 33,194,332.80 CNY, down from 42,188,300.48 CNY in the previous year[53] - Net cash flow from investing activities decreased by 97.04% to CNY -295,238.00 as no financial products were purchased during the period[15] - The cash flow from financing activities generated a net inflow of 9,754,225.01 CNY, reflecting improved financing conditions[54] - The net cash flow from financing activities amounted to ¥9,879,287.50, indicating a positive cash flow situation[58] - The total cash and cash equivalents at the end of the period reached ¥66,406,916.43, an increase from ¥58,838,674.59 at the beginning of the period[58] - The net increase in cash and cash equivalents for the quarter was ¥7,568,241.84, compared to a decrease of ¥14,865,451.18 in the same period last year[58] Assets and Liabilities - Total assets at the end of the reporting period were CNY 496,839,883.52, an increase of 2.75% from CNY 483,553,484.74 at the end of the previous year[8] - The total assets of the company as of Q1 2019 were CNY 421,303,867.13, compared to CNY 412,403,494.88 in the same period last year[42] - The total liabilities of the company as of March 31, 2019, were CNY 58,370,604.51, compared to CNY 50,032,361.37 at the end of 2018, marking an increase of around 16.73%[36] - The company's total liabilities as of Q1 2019 amounted to CNY 29,386,071.46, compared to CNY 19,056,164.18 in the previous year[42] - The company's total equity rose to CNY 438,469,279.01 from CNY 433,521,123.37, showing a slight increase of about 1.09%[37] - The total equity of the company was CNY 391,917,795.67 in Q1 2019, slightly down from CNY 393,347,330.70 in the same period last year[42] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 7,575[11] - The top two shareholders, Haolilai Holdings Limited and Xusheng Asia Investment Limited, hold 42.52% and 25.91% of the shares, respectively[11] Operational Metrics - Total operating costs for Q1 2019 were CNY 40,324,202.13, up 18.2% from CNY 34,126,688.68 in Q1 2018[43] - Research and development expenses for Q1 2019 were CNY 1,855,376.95, an increase from CNY 1,583,651.95 in Q1 2018[43] Other Financial Information - The company reported non-recurring gains of CNY 354,401.90 during the period, primarily from government subsidies and asset disposals[9] - The company did not undergo an audit for the first quarter report[59] - There were no adjustments made to the financial statements due to the first-time implementation of new financial instrument standards, revenue standards, or lease standards[59]

Financial Performance - The company's operating revenue for 2018 was ¥176,859,629.18, representing a 4.30% increase compared to ¥169,572,009.32 in 2017[16] - The net profit attributable to shareholders for 2018 was ¥20,626,502.13, a decrease of 9.44% from ¥22,775,614.30 in 2017[16] - The net profit after deducting non-recurring gains and losses was ¥17,929,144.91, down 11.92% from ¥20,356,597.98 in 2017[16] - The basic earnings per share for 2018 was ¥0.31, a decline of 8.82% from ¥0.34 in 2017[16] - The total assets at the end of 2018 amounted to ¥483,553,484.74, reflecting a 6.76% increase from ¥452,934,585.78 at the end of 2017[16] - The net cash flow from operating activities for 2018 was ¥21,974,319.67, which is a 2.87% increase compared to ¥21,362,100.12 in 2017[16] - The weighted average return on equity for 2018 was 4.85%, down from 5.55% in 2017[16] - The total revenue for the year 2018 was reported at 7,000 million, with a return rate of 29.61%[160] Revenue Breakdown - The revenue from circuit protection components was ¥165,806,385.23, accounting for 93.75% of total revenue, with a year-on-year increase of 2.59%[61] - Domestic sales reached ¥137,647,402.05, representing 77.83% of total revenue, with a significant increase of 19.39% compared to the previous year[61] - Export revenue decreased by 27.76% to ¥39,212,227.13, which accounted for 22.17% of total revenue[61] Investment and Assets - The company's fixed assets at the end of the reporting period amounted to 163.21 million, a decrease of 8.82% compared to the previous year, primarily due to the leasing of some factory buildings[27] - The company's monetary funds at the end of the reporting period increased by 36.25% to 94.99 million, mainly due to reduced purchases of financial products and increased bank borrowings[27] - The company's accounts receivable notes increased by 53.87% to 26.21 million, attributed to an increase in revenue leading to more notes received from customers[27] - The company's other receivables surged by 1947.09% to 40.51 million, primarily due to the transfer of prepaid investment intention funds[27] Market Position and Strategy - The company remains a leading player in the circuit protection component industry in China, with a comprehensive product line and the largest sales scale globally[24] - The company is actively expanding into the overvoltage protection field while continuing to innovate in its existing product lines[24] - The company aims to strengthen its market leadership in fuse products through technological innovation and market development, targeting new fields such as overvoltage protection and clean energy applications[93] - The company plans to enhance automation processes and improve production efficiency to address rising labor costs and ensure product reliability and durability[94] Research and Development - Research and development expenses amounted to 8,230,759.69 CNY, representing 4.65% of total revenue, an increase of 8.37% compared to 2017[72] - The company has obtained 39 patents related to fuse production, covering various aspects such as solder materials and structural designs, enhancing its product development capabilities[36] - The company is committed to increasing R&D investment and collaborating with equipment manufacturers and suppliers to optimize development efficiency and reduce costs[99] Corporate Governance and Compliance - The actual controller and shareholders of the company have fulfilled their commitments during the reporting period, with no outstanding commitments as of the end of the reporting period[121] - The company has a long-term commitment to ensure that it will not engage in any related transactions that may lead to conflicts of interest[121] - The company emphasizes the importance of compliance with securities laws and regulations in its operations[124] - The company has maintained a normal execution status for all commitments made, ensuring compliance with regulatory requirements[121] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 8,877, an increase from 7,575 at the end of the previous month[185] - The largest shareholder, Haolilai Holdings Limited, holds 42.52% of the shares, totaling 28,350,040 shares, with a decrease of 635,700 shares during the reporting period[185] - The second largest shareholder, Xusheng Asia Investment Limited, holds 25.91% of the shares, totaling 17,278,900 shares, with a decrease of 31,100 shares during the reporting period[185] Operational Challenges - The company faces market risks due to macroeconomic fluctuations that could impact demand for downstream products, potentially affecting revenue growth[105] - The company is exposed to raw material price volatility, particularly for copper and tin, which could affect production costs and profit margins if not managed effectively[108] - After relocating to a new facility, the company anticipates increased operational costs but aims to improve performance through enhanced R&D and market expansion efforts[109] Social Responsibility - The company has a commitment to social responsibility, actively protecting the environment while creating value for shareholders[163] - The company adheres to labor laws and regulations, ensuring equal opportunities and improving employee working conditions[163]

Financial Performance - Operating revenue for the reporting period was ¥43,556,144.28, a decrease of 2.00% year-on-year[8] - Net profit attributable to shareholders was ¥4,526,521.40, down 40.57% compared to the same period last year[8] - Net profit attributable to shareholders after deducting non-recurring gains and losses was ¥3,669,287.37, a decrease of 44.86% year-on-year[8] - Basic earnings per share were ¥0.07, down 36.36% compared to the same period last year[8] - The weighted average return on equity was 1.06%, a decrease of 0.78% year-on-year[8] Cash Flow and Liquidity - The net cash flow from operating activities was ¥7,518,962.62, an increase of 20.17% compared to the previous period[8] - Cash and cash equivalents increased by 24,021,733.74 RMB, compared to a decrease of 26,520,919.22 RMB in the previous year, primarily due to the net increase from the maturity and purchase of financial products and increased bank borrowings[21] - Operating cash flow net amount decreased by 48.67% to 9,423,034.63 RMB, influenced by increased payments for raw materials and higher VAT payments due to internal asset transfers[20] - Investment cash flow net amount improved by 71.14%, reaching -10,594,153.32 RMB, due to a net increase in the maturity and purchase of financial products[21] Assets and Liabilities - Total assets at the end of the reporting period reached ¥488,220,492.41, an increase of 7.79% compared to the end of the previous year[8] - Total assets increased significantly, with cash and cash equivalents showing a notable rise, reflecting improved liquidity management[18] - The company’s total liabilities decreased, indicating improved financial stability and reduced leverage[18] - Other receivables rose by 73.86% to 3,440,822.61 RMB, primarily due to an increase in VAT refunds[18] - The company reported a 143.33% increase in asset impairment losses, totaling 1,117,244.06 RMB, due to increased inventory write-downs[19] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 9,571[12] - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[14] Strategic Decisions and Risks - The company terminated a strategic cooperation agreement to acquire up to 40% of Huagong Semiconductor Industry Development Co., Ltd. due to substantial disagreements on core terms during negotiations[22] - The company provided a guarantee for its wholly-owned subsidiary, Good Lian (Xiamen) Circuit Protection Technology Co., Ltd., for a credit line of 10 million RMB from Agricultural Bank of China[22] - The company reported a significant risk of not recovering the principal for entrusted financial management, indicating potential impairment situations[31] Future Projections - The estimated net profit attributable to shareholders for 2018 is projected to be between 13.67 million RMB and 25.05 million RMB, representing a decrease of 40% to an increase of 10% compared to 2017's net profit of 22.78 million RMB[25] Non-Recurring Items - Non-recurring gains and losses amounted to ¥2,141,826.57 for the year-to-date[10] - Financial expenses decreased by 287.72% to -1,417,529.94 RMB, attributed to significant foreign exchange gains from the fluctuation of the RMB against the USD[19] Other Activities - There were no research, communication, or interview activities conducted during the reporting period[32] - Prepayments surged by 1273.09% to 41,559,160.22 RMB, mainly due to new prepayment for investment intentions[18]

Financial Performance - The company's operating revenue for the first half of 2018 was ¥89,331,217.16, representing a 2.29% increase compared to ¥87,331,382.81 in the same period last year[17]. - The net profit attributable to shareholders decreased by 15.89% to ¥12,402,098.55 from ¥14,745,485.50 year-on-year[17]. - The net cash flow from operating activities dropped significantly by 84.27% to ¥1,904,072.01 compared to ¥12,100,992.81 in the previous year[17]. - The weighted average return on net assets decreased to 2.93% from 3.59% in the previous year[17]. - The company reported non-operating income of ¥1,284,592.54 after accounting for various non-recurring items[22]. - The company achieved operating revenue of ¥89,331,217.16, an increase of 2.29% compared to the same period last year[38]. - Net profit for the period was ¥12,402,098.55, a decrease of 15.89% year-on-year[38]. - The company’s circuit protection components generated ¥83,553,290.10, accounting for 93.53% of total revenue, with a slight decrease of 0.04% year-on-year[44]. - Revenue from circuit protection components was CNY 83,553,290.10, a slight decrease of 0.04% year-over-year, with a gross margin of 39.14%[45]. - Other business income increased by 54.20% year-over-year to CNY 5,777,927.06, primarily due to increased rental income from newly added properties[46]. Assets and Liabilities - The total assets at the end of the reporting period increased by 5.41% to ¥477,460,448.43 from ¥452,934,585.78 at the end of the previous year[17]. - The company's fixed assets at the end of the reporting period amounted to 174.08 million yuan, a decrease of 2.75% compared to the end of the previous year[27]. - The company's intangible assets increased to 9.19 million yuan, reflecting a growth of 3.88% year-over-year[27]. - Accounts receivable rose to 46.44 million yuan, an increase of 28.55%, primarily due to higher revenue during the reporting period[27]. - Prepayments surged to 42.13 million yuan, a staggering increase of 1291.95%, mainly due to new prepayment investment intentions[27]. - Cash and cash equivalents increased to CNY 75,040,128.58, representing 15.72% of total assets, up from 13.07% the previous year[49]. - Inventory rose to CNY 45,329,777.82, accounting for 9.49% of total assets, due to increased domestic sales orders[49]. - Total liabilities amounted to RMB 52,893,172.05, up from RMB 34,260,704.75, reflecting a significant increase of approximately 54.5%[131]. - The company's equity attributable to shareholders reached RMB 424,567,276.38, compared to RMB 418,673,881.03 at the beginning of the period, showing a slight increase of about 1.4%[132]. Research and Development - The company plans to focus on the research and development of overcurrent and overtemperature circuit protection components, maintaining its position as a leading manufacturer in the industry[25]. - The company increased its investment in precision process research to enhance innovation capabilities and product quality control[39]. - The company has established a comprehensive R&D team covering various fields, resulting in a strong product development capability[31]. - The company plans to enhance R&D, improve product quality, and expand market efforts post-relocation to boost operational performance[70]. - The company plans to establish a wholly-owned subsidiary focused on smart city technology to enhance its competitive edge[39]. Market and Sales - The global demand for circuit protection components is projected to grow at a compound annual growth rate of 5.5% from 2014 to 2019, reaching a total demand of 152.843 billion units by 2019[25]. - The sales revenue of the global circuit protection components market is expected to reach $6.697 billion by 2019, with a compound annual growth rate of 3.3%[25]. - Domestic sales accounted for ¥70,502,247.54, representing 78.92% of total revenue, a 20.30% increase year-on-year[42]. - Export revenue was ¥18,828,969.62, a decline of 34.45% compared to the previous year[42]. - The company is expanding its market presence through a three-tier sales system, focusing on direct sales, professional distributors, and small trade merchants[39]. Quality Management and Compliance - The company has obtained safety certifications from multiple international authorities, ensuring compliance with global standards[34]. - The company has maintained a quality management system that has been continuously improved over 20 years, achieving ISO9001:2008 and ISO/TS16949:2009 certifications[35]. - The company is committed to strict quality management practices to mitigate risks associated with product quality and ensure operational sustainability[68]. - The company’s products are critical safety components, and any quality issues could significantly damage its brand reputation and lead to substantial compensation costs[68]. Strategic Initiatives - The company plans to lease idle factory space to generate additional income after the relocation[70]. - The company aims to optimize its existing customer product structure while developing new customers to diversify its client base[36]. - The company established a wholly-owned subsidiary, Haolilai Smart City Technology (Xiamen) Co., Ltd., to enhance its strategic development and improve overall competitiveness[65]. - The company intends to acquire up to 40% equity in Huagong Semiconductor Industry Development Co., Ltd., with the intention of purchasing no more than 20% from each of the two shareholders, Xizang Yufu and Xizang Huike[104]. - A strategic cooperation intention agreement was signed on March 27, 2018, with an earnest money payment of RMB 20 million made to both Xizang Yufu and Xizang Huike[105]. Financial Reporting and Governance - The semi-annual financial report for 2018 has not been audited[79]. - The company has made commitments to investors regarding the accuracy of its IPO prospectus[78]. - The company will compensate investors for losses caused by false statements in the IPO prospectus[78]. - The company has not faced any media scrutiny during the reporting period[81]. - There are no significant litigation or arbitration matters during the reporting period[81]. Shareholder Information - The total number of shares remains at 66,680,000, with 100% being unrestricted shares[111]. - The largest shareholder, Haolilai Holdings Limited, holds 42.65% of the shares, totaling 28,440,040 shares, with a decrease of 545,700 shares during the reporting period[113]. - The second-largest shareholder, Xusheng Asia Investment Limited, holds 25.96% of the shares, totaling 17,310,000 shares, with no change during the reporting period[113]. - The total number of ordinary shareholders at the end of the reporting period was 11,955[113]. - The company has not disclosed any related party transactions among the top shareholders[114]. Accounting Policies - The financial statements are prepared based on the principle of continuous operation, ensuring compliance with accounting standards[169]. - The company’s accounting policies include specific provisions for bad debts, depreciation, and revenue recognition tailored to its operational characteristics[168]. - Financial assets are classified into four categories at initial recognition, including financial assets measured at fair value with changes recognized in profit or loss[180]. - The company assesses significant receivables individually, with amounts over 1 million yuan subject to impairment testing based on future cash flow present value[188]. - Inventory is measured at the lower of cost and net realizable value, with provisions for inventory write-downs based on the difference between cost and net realizable value[192].

Financial Performance - The company's revenue for Q1 2018 was ¥38,726,715.89, representing an increase of 8.30% compared to ¥35,757,369.26 in the same period last year[8]. - Net profit attributable to shareholders was ¥4,250,309.72, up by 9.56% from ¥3,879,402.00 year-on-year[8]. - The net profit excluding non-recurring gains and losses was ¥3,691,658.19, reflecting a 2.89% increase from ¥3,587,882.54 in the previous year[8]. - The company expects a positive net profit attributable to shareholders for the first half of 2018, indicating no turnaround from a loss situation[23]. - The net profit attributable to shareholders for the first half of 2018 is projected to decrease by 40.00% to 10.00%, with a range of 8.8473 million to 16.2201 million CNY[24]. - The net profit for the first half of 2017 was 14.7455 million CNY[24]. Cash Flow and Assets - The net cash flow from operating activities was negative at -¥6,283,932.62, a decline of 167.58% compared to ¥9,298,675.75 in the same period last year[8]. - Total assets at the end of the reporting period were ¥447,703,705.24, a decrease of 1.15% from ¥452,934,585.78 at the end of the previous year[8]. - The net assets attributable to shareholders increased by 0.82% to ¥422,115,859.78 from ¥418,673,881.03 at the end of the previous year[8]. - Other current assets decreased by 82.99% to ¥5,741,395.34 from ¥33,747,060.26, primarily due to a reduction in the balance of financial products[15]. - Deferred tax assets rose by 48.55% to ¥1,194,266.56 from ¥803,945.56, attributed to an increase in deductible temporary differences from unrealized profits[15]. Shareholder Information - The company had a total of 12,150 common shareholders at the end of the reporting period[11]. - The largest shareholder, Haolilai Holdings Limited, held 43.47% of the shares, totaling 28,985,740 shares[11]. Strategic Developments - The company established a wholly-owned subsidiary, investing ¥10 million initially, later increasing the registered capital to ¥21 million due to registration approval constraints[17][18]. - The company signed a strategic cooperation intention agreement to acquire up to 40% of Huagong Semiconductor Industry Development Co., Ltd., with an initial payment of ¥20 million as earnest money[19][20]. Market Conditions - The decline in performance is attributed to a slow recovery in the core export markets of Japan and South Korea, with a shrinking market share for clients like Samsung[24]. - The electronic industry is shifting towards diversification and customization, leading to increased market competition and affecting market share[24]. - Domestic economic slowdown and rising raw material prices are hindering the company's expansion into new customer segments[24]. Non-Recurring Items - The company reported non-recurring gains of ¥558,651.53 during the reporting period[9]. - Financial expenses surged to ¥583,364.86 from -¥33,076.88, a change of -1863.66%, mainly due to significant fluctuations in the RMB to USD exchange rate leading to increased exchange losses[15].

Financial Performance - The company's operating revenue for 2017 was CNY 169,572,009.32, representing a 10.27% increase compared to CNY 153,781,872.13 in 2016[16]. - The net profit attributable to shareholders for 2017 was CNY 22,775,614.30, which is a 6.40% increase from CNY 21,404,898.01 in 2016[16]. - The net profit after deducting non-recurring gains and losses was CNY 20,356,597.98, an increase of 8.18% from CNY 18,817,297.11 in 2016[16]. - The basic earnings per share for 2017 was CNY 0.34, up 6.25% from CNY 0.32 in 2016[16]. - The total revenue for the year 2017 was 63,026,950.09 CNY, with the top five customers accounting for 39.00% of total sales[65]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the fiscal year, representing a growth of 20% year-over-year[112]. - The company reported a net profit margin of 12% for 2017, which is an improvement from 10% in the previous year[110]. Cash Flow and Assets - The net cash flow from operating activities decreased by 40.21% to CNY 21,362,100.12 from CNY 35,731,055.01 in 2016[16]. - The company’s cash flow from operating activities decreased by 40.21% to CNY 21,362,100.12 in 2017[48]. - Cash and cash equivalents decreased to ¥69,724,013.49, representing 15.39% of total assets, down from 19.51% in 2016, a decrease of 4.12%[74]. - The net increase in cash and cash equivalents was -14,810,026.64 CNY, indicating a decline compared to the previous year[69]. - The company reported a total of 3,000,000 CNY in bank financial products with a floating return of 4.30%, generating a total income of 17.67 million CNY[140]. Investments and R&D - Research and development (R&D) investment amounted to 7,595,083.51 CNY, representing 4.48% of total revenue, a decrease from 5.50% in 2016[68]. - The company is investing heavily in R&D, allocating 200 million RMB for the development of new technologies and products in 2018[110]. - The company has a total of 33 patents related to fuse production technology, covering various aspects such as solder materials and structural designs[36]. - The company has built a comprehensive R&D team over 20 years, capable of developing five categories of products including tubular fuses and SMD fuses[36]. Market Position and Strategy - The company is positioned as a leading enterprise in China's circuit protection component industry, with a comprehensive product line and the largest sales scale[24]. - The company aims to strengthen its market position in circuit protection components and expand into over-voltage protection and clean energy applications[83]. - The company is focusing on developing industrial applications, clean energy, and electric vehicles, aligning with the "green, environmentally friendly, low-carbon" development concept[92]. - The company plans to enhance automation and production efficiency to address rising labor costs and improve product reliability[84]. Shareholder and Dividend Information - The company plans to distribute a cash dividend of CNY 1.00 per 10 shares, based on a total share capital of 66,680,000 shares as of December 31, 2017[5]. - The company distributed cash dividends of CNY 6,668,000 for each of the years 2015, 2016, and 2017, based on a total share capital of 66,680,000 shares, with a dividend of CNY 1 per 10 shares[103][104][105]. - In 2017, the cash dividends represented 29.28% of the net profit attributable to shareholders, while in 2016 and 2015, the percentages were 31.15% and 22.44%, respectively[108]. Operational Challenges and Risks - The company faces market risks due to potential fluctuations in macroeconomic conditions affecting downstream product demand[94]. - The company is exposed to raw material price volatility, particularly for copper and tin, which could adversely affect its profitability[97]. - The relocation to a new factory may increase operational costs without a corresponding increase in revenue, impacting profitability[98]. Corporate Governance and Management - The company has maintained a consistent shareholding structure with no reported increases or decreases in shares held by directors and supervisors throughout the reporting period[176]. - The company’s management team has seen a significant reshuffle, with several key positions being filled by new appointees following the departures of previous executives[179]. - The management emphasized the importance of maintaining strong corporate governance and transparency in financial reporting[114]. - The company has a strong emphasis on compliance and governance, with several independent directors and qualified professionals in key financial roles[184][185][186]. Employee and Training Initiatives - The total number of employees in the company is 694, with 278 in the parent company and 416 in major subsidiaries[197]. - The company has developed a comprehensive training plan tailored to the needs of various positions and employees[200]. - Training programs include new employee onboarding, management skills training, professional skills knowledge training, and general skills training[200].

Financial Performance - Operating revenue for the reporting period was ¥44,445,701.58, reflecting a year-on-year growth of 15.11%[8] - Net profit attributable to shareholders was ¥7,616,527.46, a decrease of 7.48% compared to the same period last year[8] - Net profit attributable to shareholders after deducting non-recurring gains and losses was ¥6,654,334.11, down 11.02% year-on-year[8] - Basic earnings per share for the reporting period was ¥0.11, a decrease of 8.33% compared to the same period last year[8] - The weighted average return on equity was 1.84%, a decrease of 0.26% year-on-year[8] - The company reported non-recurring gains of ¥2,565,428.27 for the year-to-date[10] - The estimated net profit attributable to shareholders for 2017 is expected to range from 25.69 million to 34.25 million RMB, representing a year-on-year increase of 20.00% to 60.00%[24] - The net profit for 2016 attributable to shareholders was 21.40 million RMB[24] Cash Flow and Assets - The net cash flow from operating activities was ¥6,256,983.93, down 61.39% compared to the same period last year[8] - Cash and cash equivalents decreased by 31.37% to ¥58,013,120.91 due to the purchase of financial products[18] - Operating cash flow decreased by 17.76% to ¥18,357,976.74 compared to the previous year[19] - Net cash flow from investing activities dropped by 182.77% to -¥36,710,483.46, due to reduced net differences in financial product maturities and purchases[19] Shareholder Information - The total number of shareholders at the end of the reporting period was 5,514[12] - The largest shareholder, Haolilai Holdings Limited, held 45.24% of the shares[13] Asset Changes - Total assets at the end of the reporting period reached ¥449,958,020.37, an increase of 3.84% compared to the end of the previous year[8] - Accounts receivable increased by 33.19% to ¥43,243,183.45, primarily due to increased revenue[18] - Other current assets surged by 268.26% to ¥40,077,651.82, attributed to an increase in financial product balances[18] - Investment properties rose by 60.14% to ¥16,553,894.31, due to new factory rentals[18] Expenses - Tax and surcharges increased by 160.76% to ¥2,709,161.41, mainly from management fees included in tax expenses[18] - The company reported a 63.85% increase in income tax expenses to ¥4,660,377.94, reflecting higher profits[18] - Other income reached ¥1,919,775.03, reflecting a new accounting standard separating government subsidies from non-operating income[18] Strategic Initiatives - The company plans to transfer assets related to circuit protection components to its wholly-owned subsidiary, enhancing strategic transformation and resource optimization[21] Market Performance - The positive performance is attributed to successful market development in the electric fuse market, with increased product sales revenue and improved production efficiency[24]