Financial Performance - The company's revenue for Q3 2022 was ¥1,447,770,444.81, a decrease of 17.97% compared to the same period last year[5]. - Net profit attributable to shareholders was ¥180,645,450.09, down 15.06% year-on-year[5]. - The net profit excluding non-recurring gains and losses was ¥190,353,153.86, a decrease of 6.50% compared to the previous year[5]. - Total operating revenue for Q3 2022 was approximately CNY 4.49 billion, a slight increase from CNY 4.48 billion in Q3 2021, representing a growth of 0.02%[19]. - The net profit for Q3 2022 was CNY 536,052,800.59, an increase of 6.5% compared to CNY 505,029,842.15 in Q3 2021[20]. - The operating profit for Q3 2022 reached CNY 612,124,707.69, up from CNY 569,905,141.51 in the same period last year, reflecting a growth of 7.3%[20]. - The total comprehensive income for Q3 2022 was CNY 536,059,343.59, up from CNY 505,029,842.15 in the same quarter of the previous year[22]. Assets and Liabilities - The total assets at the end of the reporting period were ¥9,211,887,649.72, an increase of 5.95% from the end of the previous year[5]. - Non-current assets totaled approximately CNY 5.16 billion, an increase from CNY 4.65 billion, representing a growth of about 10.93%[18]. - Total liabilities decreased slightly to approximately CNY 3.90 billion from CNY 3.95 billion, a reduction of about 1.07%[18]. - The company's equity attributable to shareholders increased to approximately CNY 4.91 billion from CNY 4.54 billion, reflecting a growth of about 7.99%[18]. Cash Flow - Cash flow from operating activities for the year-to-date was ¥699,649,865.29, a decrease of 1.75% year-on-year[5]. - The cash flow from loans decreased by 38.52% to ¥169,018,516.20, down from ¥274,926,171.69, attributed to reduced bank borrowings[11]. - The company reported a net cash flow from financing activities of ¥94,246,044.66, a significant improvement compared to a negative cash flow of ¥177,289,197.17 in the previous year, marking a 153.16% change[11]. - The cash inflow from financing activities was CNY 575,891,138.20, compared to CNY 274,926,171.69 in the previous year, showing a significant increase[24]. - The cash and cash equivalents at the end of the period amounted to CNY 746,986,676.58, an increase from CNY 634,947,878.26 at the end of Q3 2021[24]. Investments - The net cash flow from investment activities was -¥654,710,096.33, an increase of 94.81% in outflows compared to the previous year[9]. - The company experienced a net cash outflow from investing activities of CNY -654,710,096.33, compared to CNY -336,076,241.84 in Q3 2021[24]. - The total cash received from investments was ¥406,872,622.00, reflecting a 100% increase due to capital increases from subsidiaries[11]. - The company reported a net investment loss of approximately CNY 18.17 million, compared to a gain of CNY 9.32 million in the previous year[19]. Shareholder Information - The number of common shareholders at the end of the reporting period was 38,074, with the largest shareholder holding 56% of the shares[12]. - The company’s major shareholder, Jiang Xuefei, holds 497,821,720 shares, representing 56% of the total shares[12]. - The total number of outstanding shares increased, with the share capital rising to approximately CNY 889 million from CNY 876 million, an increase of about 1.27%[18]. Other Financial Metrics - The weighted average return on equity was 3.76%, down 1.08% from the previous year[5]. - The company paid out dividends totaling ¥321,268,203.77, which is a 38.43% increase compared to ¥232,085,140.03 in the previous year[11]. - Research and development expenses increased significantly to approximately CNY 232.30 million, up from CNY 184.39 million, marking a rise of about 26%[19]. - Deferred tax assets increased to approximately CNY 53.56 million from CNY 46.07 million, reflecting a growth of about 16.5%[18]. - The accounts receivable rose to ¥1,337,365,709.68, up from ¥1,319,346,380.66, showing a slight increase of 1.36%[14]. - The inventory decreased to ¥736,397,244.59 from ¥915,018,596.59, representing a decline of about 19.5%[14]. - The company experienced a significant impact from exchange rate fluctuations, with a positive effect of ¥27,969,335.78 compared to a negative impact of ¥2,487,461.93 in the previous year, a change of 1224.41%[11].

Financial Performance - The company's operating revenue for the first half of 2022 was ¥3,038,081,853.34, representing an increase of 11.90% compared to ¥2,715,092,346.83 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was ¥313,496,253.16, up 27.81% from ¥245,291,588.55 in the previous year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥319,375,987.17, reflecting a 39.75% increase from ¥228,527,391.94 in the same period last year[23]. - The basic earnings per share increased to ¥0.36, a rise of 28.57% compared to ¥0.28 in the previous year[23]. - The total assets at the end of the reporting period were ¥9,108,465,080.79, which is a 4.77% increase from ¥8,694,154,261.60 at the end of the previous year[23]. - The net assets attributable to shareholders of the listed company were ¥4,713,651,124.98, up 3.74% from ¥4,543,880,882.82 at the end of the previous year[23]. - The net cash flow from operating activities was ¥410,873,442.07, showing a decrease of 5.01% compared to ¥432,551,044.52 in the same period last year[23]. - The weighted average return on equity was 6.73%, an increase of 1.01% from 5.72% in the previous year[23]. Revenue and Sales - The company achieved a year-on-year increase of 19.18% in domestic sales revenue, which now accounts for 42.45% of total sales revenue, indicating a shift towards domestic market expansion[38]. - Main business revenue was ¥2,862,444,210.50, accounting for 94.22% of total revenue, with a year-on-year growth of 11.09%[50]. - PCB board revenue was ¥2,629,091,747.39, representing 86.54% of total revenue, with a growth of 12.61% year-on-year[50]. - Export revenue was ¥1,748,382,485.33, making up 57.55% of total revenue, with a year-on-year increase of 7.07%[50]. - Gross profit margin for main business increased to 21.76%, up by 4.35% from the previous year[50]. Research and Development - R&D expenses for the first half of 2022 amounted to CNY 156 million, representing a year-on-year increase of 31.23%[46]. - The company has a total of 309 valid patents as of June 30, 2022, including 261 invention patents and 48 utility model patents[41]. - The company is actively developing high-end PCB products, focusing on 5G, automotive electronics, AI servers, and Mini LED technologies[46]. - The company has invested in high-end PCB product R&D, particularly in 5G high-frequency boards and AI server boards, to ensure stable growth in sales[36]. Operational Efficiency - The company has implemented a flexible production model, allowing for quick responses to diverse customer demands and optimizing production efficiency[33]. - The company utilizes advanced ERP systems and automated material management to control procurement and inventory effectively, enhancing cost management[32]. - The company’s internal and external sales structure is continuously optimized, improving its resilience against market fluctuations[38]. - The company has established a comprehensive product line including high-layer boards, HDI boards, and aluminum-based boards, continuously optimizing product structure to enhance competitiveness[36]. Risk Management - The company faces risks related to macroeconomic fluctuations, raw material price volatility, and trade friction, with corresponding mitigation strategies outlined[4]. - The company aims to enhance its technological capabilities and product offerings to counteract risks from trade disputes, particularly with the U.S.[87]. - Raw material costs account for approximately 70% of the company's expenses, making it vulnerable to price fluctuations in key materials[83]. - Approximately 60% of the company's revenue comes from exports, primarily settled in USD, exposing it to exchange rate risks[84]. Environmental Compliance - The company reported a total discharge of 12,359.90 kg of COD, with a concentration of 64.33 mg/L, adhering to the relevant pollution discharge standards[101]. - Total nitrogen discharge was recorded at 4,521.70 kg, with a concentration of 23.22 mg/L, within the permissible limits[101]. - The company has implemented measures to ensure no exceedance in the discharge of pollutants, as indicated by the absence of violations reported[101]. - The company is committed to continuous improvement in its environmental performance and compliance with pollution discharge standards[101]. Corporate Governance - The company held its first extraordinary general meeting of 2022 on February 16, with an investor participation rate of 66.89%[90]. - The annual general meeting on May 10, 2022, had a participation rate of 66.37%[90]. - The company plans to grant 17.51 million restricted stocks under the 2022 incentive plan, representing 2.00% of the total share capital[93]. - The total expense to be amortized for the granted restricted stocks is 80.78 million CNY, with 26.57 million CNY allocated for 2022[98]. Financial Position - The company's current ratio improved to 1.69 from 1.64, reflecting a 3.05% increase year-over-year, while the debt-to-asset ratio decreased to 43.78% from 45.41%[177]. - The company maintained a cash interest coverage ratio of 14.51, slightly up from 14.34, demonstrating stable cash flow management[179]. - The total assets of the company were reported at CNY 4,000,591,160.94, down from CNY 4,170,351,776.36, indicating a decrease of 4.1%[194]. - The total liabilities rose to CNY 1,587,318,631.94, compared to CNY 1,483,794,143.86 in the previous year, marking an increase of 7%[194].

Financial Performance - The company's revenue for Q1 2022 was CNY 1,502,142,252, representing a 15.61% increase compared to CNY 1,299,335,454.61 in the same period last year[2]. - Net profit attributable to shareholders was CNY 157,379,645.37, up 28.20% from CNY 122,758,557.49 year-on-year[2]. - The net profit after deducting non-recurring gains and losses was CNY 155,831,019.76, reflecting a 40.07% increase from CNY 111,255,425.84 in the previous year[2]. - Total operating revenue for Q1 2022 was CNY 1,502,142,252, an increase from CNY 1,299,335,454 in Q1 2021, representing a growth of approximately 15.6%[19]. - Net profit for Q1 2022 reached CNY 172,260,134, compared to CNY 138,009,951 in the same period last year, marking an increase of about 24.8%[21]. - Basic and diluted earnings per share for Q1 2022 were both CNY 0.1780, up from CNY 0.1391 in Q1 2021[23]. - The total operating costs for Q1 2022 were CNY 1,299,312,077, compared to CNY 1,154,971,097 in Q1 2021, indicating an increase of about 12.5%[19]. Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 8,815,171,426.63, a 1.39% increase from CNY 8,694,154,261.60 at the end of the previous year[2]. - The total liabilities amounted to CNY 1,487,626,274.46, slightly up from CNY 1,476,811,100.46 in the previous quarter[18]. - The total equity attributable to shareholders of the parent company increased to CNY 4,701,259,755.28 from CNY 4,543,880,882.82, reflecting a growth of approximately 3.5%[18]. - The company's accounts receivable as of March 31, 2022, are ¥1,285,656,551.66, slightly down from ¥1,319,346,380.66 at the beginning of the year[12]. - The company's inventory as of March 31, 2022, is ¥936,237,492.18, compared to ¥915,018,596.59 at the beginning of the year[14]. - The company reported a total current assets of ¥4,019,173,452.95 as of March 31, 2022, a slight decrease from ¥4,039,987,012.01 at the beginning of the year[14]. Cash Flow - Cash flow from operating activities was CNY 161,561,413.30, down 18.87% from CNY 199,134,881.58 in the previous year[2]. - The net cash flow from operating activities for the current period is ¥161,561,413.30, a decrease of 18.9% compared to ¥199,134,881.58 in the previous period[26]. - Total cash inflow from operating activities is ¥1,425,147,718.44, an increase of 4.8% from ¥1,360,111,443.19 in the previous period[26]. - Cash outflow from operating activities totaled ¥1,263,586,305.14, up 8.8% from ¥1,160,976,561.61 in the previous period[26]. - Cash flow from investment activities generated a net inflow of ¥229,301,172.37, compared to a net outflow of ¥148,804,878.90 in the previous period[26]. - Cash inflow from investment activities was ¥959,974,285.72, down 7.6% from ¥1,038,884,008.79 in the previous period[26]. - Cash outflow from investment activities decreased to ¥730,673,113.35 from ¥1,187,688,887.69, a reduction of 38.5%[26]. - Cash flow from financing activities resulted in a net inflow of ¥482,797.81, down 99.5% from ¥103,838,835.41 in the previous period[26]. - The ending balance of cash and cash equivalents is ¥969,646,359.87, an increase from ¥745,499,495.86 in the previous period[26]. - The company reported a significant increase in cash received from sales and services, totaling ¥1,209,477,128.27, compared to ¥1,081,149,543.39 in the previous period[26]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 35,556[8]. - The largest shareholder, Jiang Xuefei, holds 56.85% of the shares, totaling 497,821,720 shares[8]. - Jiang Xuefei and Zhu Xuehua are identified as the controlling shareholders, with familial ties influencing the ownership structure[10]. Government Subsidies and Taxation - The company received government subsidies amounting to CNY 3,628,382.39, which is closely related to its normal business operations[3]. - The company reported a 61.22% increase in income tax expenses, amounting to CNY 30,059,477.66, compared to CNY 18,645,458.86 in the previous year[5]. - The company paid ¥56,265,559.41 in taxes, an increase of 41.0% compared to ¥39,881,810.65 in the previous period[26]. Future Plans - The company plans to raise up to ¥200 million through a non-public offering of shares to fund a new circuit board project[11]. - The company has received feedback from the China Securities Regulatory Commission regarding its non-public offering application, which is still pending approval[11].

Financial Performance - The company's operating revenue for 2021 was CNY 5,995,769,518.49, representing a 37.27% increase from CNY 4,367,714,599.51 in 2020[24]. - The net profit attributable to shareholders for 2021 was CNY 553,871,774.83, a 25.70% increase compared to CNY 440,619,182.23 in 2020[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 521,405,011.94, up 32.85% from CNY 392,483,769.75 in 2020[24]. - The net cash flow from operating activities reached CNY 1,223,432,417.58, a significant increase of 132.39% from CNY 526,466,567.60 in 2020[24]. - The total assets at the end of 2021 were CNY 8,694,154,261.60, reflecting a 13.15% increase from CNY 7,683,984,221.64 at the end of 2020[24]. - The net assets attributable to shareholders at the end of 2021 were CNY 4,543,880,882.82, an increase of 8.27% from CNY 4,196,722,795.60 at the end of 2020[24]. - The company reported a basic earnings per share of CNY 0.63 for 2021, up 26.00% from CNY 0.50 in 2020[24]. - The company achieved a net profit growth of 206.15% in 2021, with revenue from the 5G RF market showing significant growth[54]. - The gross profit margin for the printed circuit board segment was 21.98%, a decrease of 1.50% from the previous year[68]. Dividend Policy - The company plans to distribute a cash dividend of 3.10 RMB per 10 shares (including tax) to all shareholders, with no bonus shares issued[6]. - The proposed cash dividend for the 2021 fiscal year is RMB 3.1 per 10 shares, subject to approval at the annual shareholders' meeting[192]. - The company has a profit distribution policy that emphasizes cash dividends as a key form of investor return, aligning with shareholder interests[185]. - The company plans to maintain a minimum cash dividend ratio of 20% in profit distributions during its growth phase[191]. Research and Development - The company reported a significant focus on R&D for new products and technologies, aiming to enhance its competitive edge in the PCB market[17]. - The company invested CNY 262 million in R&D in 2021, focusing on high-end PCB products such as 5G and AI server circuit boards[63]. - The number of R&D personnel increased by 19.32% from 761 in 2020 to 908 in 2021, with R&D personnel now making up 15.09% of the total workforce[81]. - Research and development (R&D) expenses for 2021 were approximately ¥262.27 million, a slight decrease of 1.37% from ¥265.93 million in 2020[82]. - The company completed several key R&D projects, including the development of circuit boards for automotive electronics and AI servers, enhancing its competitive edge in these markets[81]. Market Expansion and Strategy - The company maintains a strong commitment to market expansion, particularly in the flexible PCB and integrated circuit substrate segments[17]. - The company has established partnerships with major clients in the 5G sector, including ZTE and Intel, enhancing its market position[55]. - The company has a diversified customer base, which helps to reduce dependency on any single market or client[116]. - The company is considering strategic acquisitions to enhance its market position, with a budget of 300 million RMB allocated for potential deals[162]. - The company plans to expand its production capacity in Zhuhai, with a designed annual capacity of 640 million square meters, supporting future growth[59]. Risk Management - The company has identified potential risks related to macroeconomic fluctuations and raw material price volatility, along with strategies to mitigate these risks[6]. - Raw material costs account for approximately 70% of the company's total costs, with significant reliance on copper and other materials, making it vulnerable to price fluctuations[120]. - Approximately 60% of the company's revenue comes from exports, primarily settled in USD, exposing it to exchange rate risks[121]. - The company has implemented measures to manage exchange rate risks, including using USD loans and increasing domestic market orders[121]. Corporate Governance - The company is committed to transparent governance and protecting the rights of all shareholders, particularly minority shareholders[129]. - The company has established an internal audit system to enhance operational compliance and protect shareholder rights[139]. - The company emphasizes the independence of its board and supervisory board, ensuring no major discrepancies with legal regulations[139]. - The company has independent financial management, with a dedicated accounting department and no interference from controlling shareholders[143]. - The company has a clear performance evaluation and incentive mechanism for its directors and senior management[135]. Operational Efficiency - The company has implemented new strategies to improve operational efficiency, aiming for a 5% reduction in operational costs[162]. - The company utilizes advanced ERP systems and smart manufacturing technologies to enhance production efficiency and management capabilities[52]. - The company has a plan to enhance operational efficiency and reduce costs through group management and benchmarking across factories[120]. Employee Management - The total number of employees at the end of the reporting period was 6,019, with 3,612 in production, 1,646 in technology, and 950 with bachelor's degrees[181]. - The company has a structured training program aimed at improving employee skills and safety management[183]. - The company has no outsourced labor, indicating a focus on in-house capabilities[185]. - The company reported a significant increase in employee compensation payments, rising by 31.74% to CNY 896,558,246.01 due to an increase in workforce[84]. Financial Compliance - The company has engaged Tianjian Accounting Firm for auditing services, ensuring compliance with financial regulations[23]. - The company’s financial report has been verified for accuracy and completeness by its management team, ensuring transparency for investors[5]. - The company has not encountered any issues or other circumstances regarding the use and disclosure of raised funds[108].

Revenue and Profit - Revenue for Q3 2021 reached ¥1,764,906,672.73, an increase of 56.98% year-over-year, with total revenue for the year-to-date at ¥4,479,999,019.56, up 36.09% compared to the same period last year[3] - Net profit attributable to shareholders for Q3 2021 was ¥212,684,799.57, representing a 101.63% increase year-over-year, with a year-to-date net profit of ¥457,976,388.12, up 22.07%[3] - Basic earnings per share for Q3 2021 was ¥0.2421, a 102.60% increase compared to the same period last year, with year-to-date earnings per share at ¥0.5221, up 22.99%[3] - Total operating revenue for Q3 2021 reached ¥4,479,999,019.56, an increase of 36.2% compared to ¥3,291,827,830.28 in the same period last year[24] - Net profit for Q3 2021 was ¥505,029,842.15, representing a 35.4% increase from ¥372,732,066.96 in Q3 2020[26] - The total comprehensive income attributable to the parent company was approximately CNY 457.98 million, compared to CNY 375.16 million in the previous period, representing an increase of 22.0%[28] - Basic and diluted earnings per share increased to CNY 0.5221 from CNY 0.4245, reflecting a growth of 23.1%[28] Assets and Liabilities - Total assets as of September 30, 2021, were ¥8,516,366,844.10, reflecting a 10.83% increase from the end of the previous year[3] - The company's total liabilities increased to ¥3,876,757,031.51, up from ¥3,334,106,933.35 year-over-year, reflecting a growth of 16.3%[23] - Total assets amounted to CNY 7,683,984,221.64, with a decrease of CNY 89,831,039.29 compared to the previous period[36] - Non-current assets totaled CNY 4,108,317,050.73, reflecting a decrease of CNY 89,831,039.29[36] - Total liabilities reached CNY 3,334,106,933.35, down by CNY 89,831,039.29 from the last reporting period[40] - Current liabilities were CNY 1,976,922,179.18, showing a decrease of CNY 15,681,612.09[36] - Long-term borrowings and bonds payable amounted to CNY 1,254,188,552.58, with no changes reported[40] - Owner's equity totaled CNY 4,349,877,288.29, remaining stable compared to the previous period[40] Cash Flow - Cash flow from operating activities for the year-to-date was ¥712,108,567.50, showing an increase of 80.41% compared to the same period last year[3] - Cash flow from operating activities generated CNY 3.96 billion, up from CNY 2.85 billion, indicating a growth of 38.9%[29] - Net cash flow from operating activities was CNY 712.11 million, compared to CNY 394.73 million, marking an increase of 80.5%[31] - Cash inflow from investment activities totaled CNY 2.83 billion, compared to CNY 2.29 billion, an increase of 23.8%[31] - The net cash flow from investment activities was negative at CNY -336.08 million, an improvement from CNY -1.27 billion in the previous period[31] - Cash inflow from financing activities was CNY 274.93 million, down from CNY 1.77 billion, a decrease of 84.5%[31] - The company reported a net increase in cash and cash equivalents of CNY 196.26 million, compared to CNY 58.29 million in the previous period, an increase of 236.5%[33] Expenses and Financial Performance - Financial expenses surged by 179.30% to ¥49,792,314.64, primarily due to accrued convertible bond interest[10] - Income tax expenses rose by 84.81% to ¥65,079,594.45, attributed to profit growth and corresponding tax provisions[12] - The company's total operating costs for Q3 2021 were ¥3,883,217,377.19, which is a 32.0% increase from ¥2,938,708,695.34 in Q3 2020[24] - Research and development expenses for Q3 2021 were ¥184,388,699.29, a decrease of 12.3% from ¥209,993,358.81 in Q3 2020[24] Shareholder Information - The number of common shareholders at the end of the reporting period was 46,193, with the largest shareholder holding 56.85% of the shares[13] - The net profit attributable to minority shareholders surged by 2035.13% to ¥47,053,454.03, driven by the consolidation of Punowei and its profit growth during the same period[12] Other Financial Metrics - The weighted average return on equity for the year-to-date was 10.56%, an increase of 11.05% year-over-year[3] - The company recognized government subsidies amounting to ¥10,425,483.73 in Q3 2021, contributing to the overall profit[7] - The company reported a significant increase in accounts receivable, which rose by 55.16% to ¥1,456,706,517.13, attributed to sales growth[8] - Inventory increased by 39.64% to ¥823,738,518.63, also due to sales growth[8] - The company reported a significant increase in accounts payable, which reached ¥1,448,898,646.59, up from ¥1,015,293,672.07, reflecting a growth of 42.7%[23] - The company’s deferred income decreased to ¥92,658,299.51 from ¥102,584,222.94, a decline of 9.0% year-over-year[23] - The company holds long-term equity investments valued at CNY 469,152,030.28[36] Audit and Reporting - The report for the third quarter was not audited, indicating preliminary figures[42] - The company has implemented the new leasing standards from January 1, 2021, affecting asset and liability adjustments[40]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥2,715,092,346.83, representing a 25.26% increase compared to ¥2,167,554,977.68 in the same period last year[23]. - The net profit attributable to shareholders of the listed company decreased by 9.04% to ¥245,291,588.55 from ¥269,682,015.72 in the previous year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥228,527,391.94, down 6.69% from ¥244,914,257.37 in the same period last year[23]. - The net cash flow from operating activities increased by 17.61% to ¥432,551,044.52, compared to ¥367,791,019.06 in the previous year[23]. - Total assets at the end of the reporting period were ¥8,200,769,059.64, a 6.73% increase from ¥7,683,984,221.64 at the end of the previous year[23]. - The net assets attributable to shareholders of the listed company increased by 0.92% to ¥4,235,154,113.60 from ¥4,196,722,795.60 at the end of the previous year[23]. - Basic earnings per share decreased by 9.68% to ¥0.28 from ¥0.31 in the same period last year[23]. - Diluted earnings per share also decreased by 9.68% to ¥0.28 from ¥0.31 in the previous year[23]. - The weighted average return on net assets was 5.72%, down from 6.82% in the previous year, a decrease of 1.10%[23]. Market and Industry Insights - The global PCB market is projected to reach 86.3 billion USD by 2025, with a compound annual growth rate (CAGR) of 5.8% from 2020 to 2025[40]. - The PCB market in mainland China is expected to reach 46.12 billion USD by 2025, maintaining a stable market share with a CAGR of 5.6%[42]. - The demand for HDI and packaging substrates is expected to drive significant growth in the PCB industry, with projected CAGRs of 9.7% and 6.7% respectively from 2020 to 2025[46]. Sales and Production - The company's domestic sales revenue grew by 26.66% year-on-year, with the domestic market share reaching 36.63%[35]. - The company's high-end PCB products saw a sales area increase of 21.07% in the first half of 2021, with HDI products experiencing a significant growth of 36.99%[52]. - The company achieved a production and sales area of 2.3738 million square meters and 2.31 million square meters respectively in the first half of 2021, with a sales volume increase of 33.77%[55]. - The company's export revenue reached CNY 1,632,908,645.69, accounting for 60.14% of total revenue, with a year-on-year growth of 21.22%[63]. Research and Development - Research and development expenses for the first half of 2021 amounted to CNY 119 million, focusing on 5G-related products and applications in communication transmission networks, core networks, and data centers[59]. - The company plans to continue increasing investment in R&D for 5G products to enhance overall competitiveness and production capabilities[59]. Environmental Compliance - The company reported a total nitrogen discharge of 2,377.05 kg, which is below the approved limit of 15,840 kg[95]. - The total phosphorus discharge was recorded at 92.83 kg, with no exceedance of the discharge standards[95]. - The company achieved a total copper discharge of 8.25 kg, compliant with the relevant pollution discharge standards[95]. - The total chemical oxygen demand (COD) was 16,046.63 kg, significantly below the approved limit of 63,360 kg[95]. - The company has implemented strict pollution control measures, resulting in no exceedance of discharge limits for various pollutants[95]. - The company is actively monitoring and managing its environmental impact, ensuring compliance with national standards[95]. Financial Management and Investments - The total amount of guarantees provided by the company during the reporting period reached CNY 401,800.5 million, with an actual guarantee amount of CNY 26,200 million[132]. - The company has entrusted financial management with a total amount of CNY 102,000 million, with an outstanding balance of CNY 65,000 million[135]. - The company decided to deregister its wholly-owned subsidiary Nantong Chongda, which had not commenced operations, to concentrate resources on strengthening its IC carrier board business[139]. Shareholder and Equity Information - The total number of shares decreased from 882,546,777 to 875,638,316, a reduction of 6,908,461 shares, representing a decrease of approximately 0.78%[144]. - The number of restricted shares held by shareholders decreased by 12,705,825 shares, from 458,648,376 to 445,942,551, a reduction of about 2.77%[146]. - The company repurchased and canceled 6,911,100 shares of restricted stock on June 1, 2021[147]. - The largest shareholder, Jiang Xuefei, holds 56.85% of the shares, totaling 497,821,720 shares[150]. Risks and Challenges - The company faces risks from macroeconomic fluctuations and industry cycles, which could impact profitability if economic recovery slows[80]. - The company's raw material costs account for approximately 70% of total costs, significantly influenced by copper, oil, and gold prices, which poses a risk to operational performance if prices fluctuate dramatically[81]. - Foreign sales contribute about 60% of the company's revenue, primarily settled in USD, making the company vulnerable to exchange rate fluctuations, particularly with the appreciation of the RMB[81].

Financial Performance - The company's revenue for Q1 2021 was CNY 1,299,335,454.61, representing a 39.37% increase compared to CNY 932,275,526.06 in the same period last year[8]. - Net profit attributable to shareholders decreased by 2.27% to CNY 122,758,557.49 from CNY 125,611,393.37 year-on-year[8]. - The net profit after deducting non-recurring gains and losses increased by 6.44% to CNY 111,255,425.84 compared to CNY 104,524,906.17 in the previous year[8]. - The basic earnings per share for the period was CNY 0.1391, a decrease of 2.11% from CNY 0.1421 in the same period last year[8]. - The weighted average return on net assets was 2.88%, down from 3.20% in the previous year[8]. - The company reported a net profit of CNY 1,931,615,872.54, up from CNY 1,809,565,457.01, indicating an increase of approximately 6.7% year-over-year[49]. - Net profit for Q1 2021 was CNY 138,009,951.24, compared to CNY 124,763,757.26 in the previous year, reflecting an increase of approximately 10.5%[58]. - The total comprehensive income for Q1 2021 was CNY 138,009,951.24, up from CNY 124,763,757.26, reflecting an increase of approximately 10.5%[60]. - The company's total comprehensive income for the quarter was CNY -12,675,786.86, reflecting a significant decline compared to CNY 478,201.46 in the previous year[65]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY 199,134,881.58, down 6.88% from CNY 213,840,225.19 in the same period last year[8]. - Cash received from customers in Q1 2021 was RMB 1,081,149,543.39, a 32.48% increase from RMB 816,063,924.05 in Q1 2020, indicating growth in customer payments[19]. - The company's cash flow from operating activities saw a significant increase of 224.01%, reaching RMB 223,711,698.05, due to the release of bank acceptance deposits[20]. - Total cash inflow from operating activities was CNY 1,360,111,443.19, up from CNY 934,271,521.01 in the prior year, reflecting a growth of approximately 45.7%[69]. - Cash and cash equivalents were reported at CNY 744,259,282.98, up from CNY 591,519,709.94, indicating a significant increase of about 25.8%[43]. - Cash and cash equivalents at the end of the period totaled CNY 745,499,495.86, an increase from CNY 529,878,903.75 at the end of the previous year[70]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 7,804,314,322.50, a 1.57% increase from CNY 7,683,984,221.64 at the end of the previous year[8]. - Total current assets as of March 31, 2021, amounted to CNY 3,588,084,784.59, slightly up from CNY 3,575,667,170.91 in the previous year[43]. - Total non-current assets reached CNY 4,216,229,537.91, compared to CNY 4,108,317,050.73, indicating an increase of about 2.6%[45]. - Total liabilities decreased to CNY 3,305,121,110.82 from CNY 3,334,106,933.35, showing a reduction of about 0.9%[49]. - Short-term borrowings increased to CNY 278,506,234.34 from CNY 171,834,813.68, representing a growth of about 62%[45]. - The total liabilities increased to 3,423,937,972.64 CNY, with a notable rise in non-current liabilities due to the inclusion of lease liabilities[77]. Expenses and Costs - Operating costs for Q1 2021 were RMB 980,084,113.80, reflecting a 42.94% increase from RMB 685,659,959.66 in Q1 2020, corresponding to the rise in sales revenue[17]. - The company experienced a 248.50% increase in financial expenses, totaling RMB 12,793,337.83, primarily due to interest on convertible bonds[19]. - The company’s management expenses increased by 31.83% to RMB 70,741,177.07, largely due to the consolidation of Puno Wei[19]. - Research and development expenses for Q1 2021 were CNY 59,024,033.48, an increase from CNY 53,684,203.90, marking a growth of approximately 9.3%[56]. - The company's financial expenses increased to CNY 12,793,337.83 from a negative CNY 8,614,984.65, indicating a significant change in financial costs[56]. Shareholder Information - The company reported a total of 45,697 shareholders at the end of the reporting period[12]. - The company terminated the 2018 Restricted Stock Incentive Plan and will repurchase and cancel 6,911,100 unvested restricted shares due to difficulties in achieving the intended incentive effects[22]. - The termination of the stock incentive plan will result in an accelerated recognition of share-based payment expenses of approximately RMB 9.719 million in 2021[23]. Investments and Financing - The company raised a total of RMB 14 billion through the issuance of "Chongda Zuan 2" convertible bonds, with a net amount of RMB 138,357.86 million after deducting issuance costs[34]. - The company has no overdue commitments from actual controllers, shareholders, or related parties during the reporting period[28]. - The company utilized RMB 12 million of idle raised funds to temporarily supplement working capital[33]. - The company reported a cash inflow from investment activities of CNY 1,038,884,008.79, down from CNY 1,273,490,529.48 in the previous year[69].

Financial Performance - The company's operating revenue for 2020 was ¥4,367,714,599.51, an increase of 17.18% compared to ¥3,727,450,770.41 in 2019[21]. - The net profit attributable to shareholders for 2020 was ¥440,619,182.23, a decrease of 16.24% from ¥526,048,757.38 in 2019[21]. - The net profit after deducting non-recurring gains and losses was ¥392,483,769.75, down 21.09% from ¥497,366,341.58 in 2019[21]. - The net cash flow from operating activities was ¥526,466,567.60, a decline of 33.14% compared to ¥787,453,828.98 in 2019[21]. - The total assets at the end of 2020 were ¥7,683,984,221.64, representing a 42.88% increase from ¥5,377,956,227.73 at the end of 2019[21]. - The net assets attributable to shareholders at the end of 2020 were ¥4,196,722,795.60, an increase of 8.55% from ¥3,866,155,443.24 at the end of 2019[21]. - The company's internal sales revenue grew by 58.17% in 2020, with the internal sales market share increasing by 9.51 percentage points[32]. - The company reported a total of ¥49,970,463.02 in government subsidies for 2020, compared to ¥27,625,790.87 in 2019[26]. - The gross profit margin for printed circuit boards was 23.49%, a decrease of 4.06% from the previous year[73]. - In 2020, the company achieved operating revenue of 4.368 billion RMB, a year-on-year increase of 17.18%, while net profit attributable to shareholders was 441 million RMB, a decrease of 16.24% due to various factors including the impact of COVID-19 on associated companies[52]. Research and Development - The company has a strong focus on research and development, particularly in the fields of PCB and FPC technologies, to drive innovation[12]. - R&D expenses increased by 22.12% in 2020, with a focus on 5G-related products, enhancing the company's overall R&D capabilities[58]. - Research and development investment increased by 22.12% to ¥265,928,655.07 in 2020, with R&D personnel rising by 29.64% to 761[86]. - The proportion of R&D investment to operating revenue rose to 6.09% in 2020 from 5.84% in 2019[86]. - The company holds 264 patents, including 198 invention patents, positioning it as a leader in the industry[49]. - The company has applied for a total of 1,248 patents, indicating a strong commitment to innovation[57]. Market Position and Strategy - The global PCB market size reached $652.2 billion in 2020, with a year-on-year growth of 6.4%[36]. - The PCB market in mainland China is projected to reach $461.2 billion by 2025, with a compound annual growth rate (CAGR) of 5.6% from 2020 to 2025[38]. - The demand for packaging substrates and HDI boards is expected to grow at CAGRs of 9.7% and 6.7%, respectively, from 2020 to 2025[42]. - The company has established a strong competitive position in the PCB market, consistently ranking among the top PCB companies in China and globally[43]. - The company has expanded its product line by acquiring stakes in other firms, enhancing its capabilities in IC substrates and FPC[47]. - The company has diversified its customer base across various industries, effectively mitigating operational risks[48]. Operational Efficiency - The company adopted a flexible production model to respond quickly to diverse customer demands[34]. - The company has implemented an advanced ERP system and flexible production lines, leading to high production efficiency[46]. - The company produced and sold 3.678 million square meters of PCBs in 2020, with a year-on-year sales increase of 24.90% and a production and sales rate of 96.89%[59]. - The company has established a sales department divided into eight industry groups to better manage customer relationships and orders[32]. Cash Flow and Financing - The company reported a net cash flow from operating activities of ¥526,466,567.60 in 2020, a decrease of 33.14% compared to ¥787,453,828.98 in 2019[87]. - Total cash inflow from financing activities surged by 320.36% to ¥1,688,505,783.54 in 2020, compared to ¥401,683,580.50 in 2019[87]. - The company achieved a total operating cash inflow of ¥4,012,240,099.30, reflecting a growth of 13.27% from ¥3,542,284,288.85 in the previous year[87]. - The net increase in cash and cash equivalents was ¥224,642,428.30, a significant improvement of 173.53% from a decrease of ¥305,504,322.94 in 2019[87]. - The company issued convertible bonds, resulting in cash inflow of ¥1,386,000,000.00, marking a 100% increase in financing activities[89]. Environmental Compliance - Total nickel emissions were reported at 17.47 kg, with a concentration of 0.028 mg/L, complying with the discharge standards[184]. - Total nitrogen emissions reached 14,529.34 kg, with a concentration of 23.9 mg/L, indicating adherence to environmental regulations[188]. - Total phosphorus emissions were recorded at 407.17 kg, with a concentration of 0.76 mg/L, meeting the required discharge limits[188]. - The company has established a wastewater treatment plant in Shenzhen with a design capacity of 3,000 m³/d, which integrates various wastewater pre-treatment processes before discharging into the municipal pipeline[190]. - The company has implemented an online monitoring system for wastewater discharge, including parameters such as pH and chemical oxygen demand, which is connected to national monitoring platforms[190]. Corporate Governance - The company has engaged Tianjian Accounting Firm for auditing, ensuring compliance and transparency in financial reporting[20]. - The company has established a strategic partnership with CITIC Securities for continuous supervision, indicating a commitment to governance and investor relations[20]. - The company has not engaged in any major litigation or arbitration matters during the reporting period[153]. - The company has not experienced any penalties or rectification issues during the reporting period[154]. Dividend Distribution - The company plans to distribute a cash dividend of 2.50 RMB per share for the 2020 fiscal year, with a total cash dividend amount exceeding 1.15 billion RMB over five years[69]. - The total distributable profit amounts to 272,461,989.67 RMB[137]. - The profit distribution proposal is subject to approval at the 2020 annual general meeting, indicating uncertainty[137]. - The company plans to distribute a cash dividend of RMB 3 per 10 shares for the 2019 fiscal year, totaling RMB 265,208,021.40, which represents 50.42% of the net profit attributable to ordinary shareholders[133][136].

Financial Performance - Operating revenue for the quarter was ¥1,124,272,852.60, representing a year-on-year growth of 21.50%[8] - Net profit attributable to shareholders was ¥105,481,597.20, a decrease of 15.96% compared to the same period last year[8] - Basic earnings per share were ¥0.1195, a decline of 18.82% compared to the previous year[8] - The company reported a net profit of CNY 1,765,064,752.20, compared to CNY 1,654,665,172.38, showing a growth of about 6.7%[46] - Total operating revenue for Q3 2020 was CNY 1,124,272,852.60, an increase of 21.5% compared to CNY 925,323,237.44 in the same period last year[53] - Net profit for Q3 2020 was CNY 104,863,289.22, a decrease of 16.5% from CNY 125,509,470.79 in the previous year[55] - The company reported a total comprehensive income of CNY 104,863,289.22 for the period, compared to CNY 125,509,470.79 in the previous year[58] Assets and Liabilities - Total assets reached ¥7,329,794,104.14, an increase of 36.29% compared to the previous year[8] - Current liabilities totaled CNY 1,848,721,141.38, an increase from CNY 1,306,133,065.05, reflecting a growth of approximately 41.5%[44] - Non-current liabilities increased significantly to CNY 1,311,450,936.02 from CNY 180,772,612.84, marking a rise of about 626.5%[44] - The total liabilities reached CNY 3,160,172,077.40, compared to CNY 1,486,905,677.89, indicating an increase of approximately 113.0%[44] - The total current assets amounted to RMB 3.42 billion, significantly higher than RMB 1.96 billion in the previous period[40] Cash Flow - Net cash flow from operating activities was ¥26,936,589.48, down 90.02% year-on-year[8] - Cash received from government subsidies increased by 71% to ¥82,370,570.94[20] - The company raised a total of RMB 800 million through the issuance of 8 million convertible bonds, with a net amount of RMB 789.84 million after deducting issuance costs[28] - The net cash flow from investment activities was -¥1,274,259,553.57, worsening from -¥623,074,001.48 in the previous period[79] - The net cash flow from financing activities was ¥943,357,753.99, a recovery from -¥90,161,219.68 in the previous period[79] Shareholder Information - The total number of shareholders at the end of the reporting period was 50,971[12] - The largest shareholder, Jiang Xuefei, holds 56.41% of the shares[12] Government Subsidies - The company received government subsidies amounting to ¥35,587,679.78 during the reporting period[8] - Cash received from government subsidies increased by 71% to ¥82,370,570.94[20] Investment Activities - The company plans to acquire an additional 15% stake in Puno Wei for ¥38.065 million, increasing its total ownership to 55%[22] - The company has achieved an investment progress of 68.20% in the large-scale printed circuit board technology transformation project[31] Financial Ratios - The weighted average return on equity was 2.67%, down 1.41% from the previous year[8] - Interest expenses decreased by 79% to ¥8,287,467.16, primarily due to the absence of convertible bond interest expenses from the previous year[20] Research and Development - Research and development expenses for Q3 2020 were CNY 71,727,492.03, up from CNY 55,716,251.42, marking a year-over-year increase of 28.7%[53] - Research and development expenses increased to ¥209,993,358.81, compared to ¥163,410,640.27 in the previous year, marking a rise of 28.5%[64] Financial Reporting Changes - The company has implemented new revenue recognition standards starting January 1, 2020, which may impact future financial reporting[91]

Financial Performance - The company's operating revenue for Q1 2020 was ¥932,275,526.06, representing a year-over-year increase of 2.94% compared to ¥905,616,467.26 in the same period last year[8] - The net profit attributable to shareholders was ¥125,611,393.37, a slight increase of 1.61% from ¥123,625,608.92 in the previous year[8] - The net profit after deducting non-recurring gains and losses decreased by 11.25% to ¥104,524,906.17 from ¥117,769,250.50 year-over-year[8] - The basic earnings per share (EPS) was ¥0.1421, a decrease of 4.44% from ¥0.1487 in the previous year[8] - Total operating revenue for Q1 2020 was CNY 932,275,526.06, an increase of 2.3% compared to CNY 905,616,467.26 in the previous year[46] - Net profit for Q1 2020 reached CNY 124,763,757.26, compared to CNY 123,625,608.92 in Q1 2019, reflecting a growth of 0.9%[50] Cash Flow and Liquidity - The net cash flow from operating activities was ¥213,840,225.19, down 21.40% from ¥272,070,861.98 in the same period last year[8] - Cash received from operating activities increased by 896.27% to ¥69,044,488.05, mainly from government grants[22] - Cash and cash equivalents increased by 147.27% to ¥531,179,365.65 due to the redemption of financial products[21] - Total cash inflow from investment activities was 53,000,000.00, while cash outflow was 2,822,963.01, resulting in a net cash flow of -2,822,963.01[67] - The net increase in cash and cash equivalents was -2,829,367.06, compared to an increase of 102,922,742.14 in the previous period[67] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,495,028,682.89, an increase of 2.18% from ¥5,377,956,227.73 at the end of the previous year[8] - The total assets amounted to 5,377,956,227.73, with total liabilities at 1,486,905,677.89, indicating a healthy asset-to-liability ratio[73] - The total liabilities were CNY 919,686,912.76, compared to CNY 917,617,397.00 in the previous year, showing a slight increase[46] - The company's total current assets were 1,955,876,719.41, with total non-current assets at 3,422,079,508.32[69] Equity and Shareholder Value - The net assets attributable to shareholders increased by 3.36% to ¥3,996,247,933.43 from ¥3,866,155,443.24 year-over-year[8] - The company's total equity increased to approximately ¥4.02 billion from ¥3.89 billion, reflecting a growth of about 3.4%[41] - The total equity of the company was CNY 2,548,461,929.91, up from CNY 2,543,502,631.63 year-over-year[46] Government Support and Subsidies - The company received government subsidies amounting to ¥26,836,676.53 during the reporting period[8] - Other income surged by 467.48% to ¥26,836,676.53, attributed to increased government subsidies received[21] - Deferred income increased by 65.39% to ¥74,757,994.48, reflecting growth in government subsidies received[21] Research and Development - Research and development expenses increased to CNY 53,684,203.90 from CNY 49,265,785.69, indicating a focus on innovation[48] - Research and development expenses increased significantly to 1,450,710.69, up from 833,901.42, reflecting a growth of 74.00%[55] Operational Changes and Future Plans - The company has plans for market expansion and new product development, although specific figures were not disclosed in the report[39] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[52] - The company executed new revenue and leasing standards starting January 1, 2020, impacting the presentation of contract liabilities[68] Miscellaneous - The company had no significant non-operating fund occupation by controlling shareholders during the reporting period[30] - There were no significant securities investments or derivative investments during the reporting period[24][28] - The company has not audited its first-quarter report[78] - The company has not applied the new revenue and leasing standards retroactively since 2020[77]