1 瀛通通讯股份有限公司 2019 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 瀛通通讯股份有限公司 2019 年第三季度报告全文 瀛通通讯股份有限公司 2019 年第三季度报告 2019 年 10 月 所有董事均已出席了审议本次季报的董事会会议。 公司负责人黄晖、主管会计工作负责人吴中家及会计机构负责人(会计主管 人员)丁恨几声明：保证季度报告中财务报表的真实、准确、完整。 2 瀛通通讯股份有限公司 2019 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 1,356,976,556.55 | 1,431,743,491.18 | | -5.22% | | 归属于上市公司股东的净资产（元） | 1,032,557,398.49 ...

Financial Performance - The company's operating revenue for the first half of 2019 was RMB 514,837,818.48, representing a 29.89% increase compared to RMB 396,378,664.07 in the same period last year[16]. - The net profit attributable to shareholders of the listed company decreased by 21.79% to RMB 22,123,664.39 from RMB 28,288,291.88 in the previous year[16]. - The basic earnings per share decreased by 21.47% to RMB 0.1811, down from RMB 0.2306 in the previous year[16]. - The company reported a total profit of CNY 25,028,499.66, a decrease from CNY 35,132,177.65 in the first half of 2018[198]. - Net profit attributable to the parent company was CNY 22,123,664.39, down 22% from CNY 28,288,291.88 in the first half of 2018[199]. Cash Flow and Assets - The net cash flow from operating activities significantly improved, reaching RMB 43,246,985.43, a 471.62% increase from a negative RMB 11,637,343.09 in the same period last year[16]. - Cash and cash equivalents decreased by 35.63% compared to the end of the previous year, mainly due to idle cash being used for structured deposits[40]. - The company's total assets included cash and cash equivalents of ¥141,578,987.99, which decreased by 6.02% from ¥197,122,204.66 in the previous year[73]. - The company's total current assets were ¥829,954,227.21, down from ¥912,956,144.81 at the end of 2018, indicating a decrease of about 9.1%[188]. Investments and Acquisitions - The company completed the acquisition of 100% equity in Lianyun Acoustic, achieving 75.31% of the promised net profit target for the year[62]. - The acquisition project of Lianyun Acoustic Co., Ltd. has a total investment of CNY 11,524.6 million, with CNY 2,814.36 million already invested[87]. - The company has pledged 100% equity of Huizhou Lianyun to secure a bank loan of up to ¥60 million for part of the acquisition payment[77]. Research and Development - R&D expenses amounted to RMB 21.60 million, representing 4.20% of the company's operating revenue[61]. - The company has established R&D centers in Beijing, Shenzhen, Wuhan, and Dongguan, and is currently building a new R&D center in Hubei[45]. - The company introduced 6 new patents, including a hybrid resonance in-ear headphone and a noise-canceling Bluetooth headphone[61]. Production and Sales - The company is a leading manufacturer specializing in acoustic components, headphones, data cables, and other products, with a focus on micro-communication wire and headphone design[24]. - The main product categories include acoustic components, headphones (including TWS, HiFi, smart, and sports headphones), and data cables, with significant revenue growth in TWS and HiFi headphones due to increased investment in high-end talent and smart assembly[25]. - The company's sales model is direct, with no intermediaries, allowing for customized production based on customer orders[35]. Risk Management - The company emphasized the importance of risk management and outlined potential risks and countermeasures in its report[4]. - The company faces significant foreign exchange risk due to its reliance on USD for export trade, which may impact profit margins[104]. - The company is at risk of tax burden increases if it loses its high-tech enterprise status, which currently allows a 15% corporate income tax rate[105]. Corporate Governance - The semi-annual financial report was not audited[117]. - There were no major litigation or arbitration matters during the reporting period[119]. - The company did not undergo any changes in its board of directors, supervisors, or senior management during the reporting period[180]. Social Responsibility - The company has established employment opportunities for 35 disabled individuals through its dedicated workshops[142]. - A total of 210 local beneficiaries have been employed through three poverty alleviation workshops set up by the company in nearby towns[142]. - The company reported a total funding amount of 4.126 million yuan for poverty alleviation efforts[144].

证券代码：002861 证券简称：瀛通通讯 公告编号：2019-050 瀛通通讯股份有限公司 关于参加 2019 年度投资者网上集体接待日活动的公告 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。 为进一步加强与投资者的沟通交流，瀛通通讯股份有限公司（以下简称"公 司"）将参加由湖北省证监局、湖北省上市公司协会、深圳市全景网络有限公司 联合举办的"湖北辖区上市公司 2019 年度投资者网上集体接待日活动"，现将有 关事项公告如下： 本次集体接待日活动将通过深圳市全景网络有限公司提供的互联网平台举 行，投资者可以登录"全景·路演天下"网站（http://rs.p5w.net）参与公司 本次投资者集体接待日活动，活动时间为 2019 年 6 月 13 日（星期四）15:10 至 16:50。 届时公司副总经理兼董事会秘书曾子路先生、证券事务代表胡钪女士将通过 网络在线问答互动的形式，与投资者就公司 2018 年度业绩、公司治理、经营状 况、可持续发展等投资者关注的问题进行交流。 欢迎广大投资者积极参与。 特此公告。 瀛通通讯股份有限公司 董事会 2019 年 6 ...

Financial Performance - The company's operating revenue for 2018 was approximately ¥896.45 million, representing a 24.22% increase compared to ¥721.69 million in 2017[16]. - The net profit attributable to shareholders for 2018 was approximately ¥64.49 million, a decrease of 24.83% from ¥85.79 million in 2017[16]. - The net profit after deducting non-recurring gains and losses was approximately ¥55.58 million, down 24.26% from ¥73.38 million in 2017[16]. - The net cash flow from operating activities was approximately ¥7.45 million, a significant decrease of 88.44% compared to ¥64.44 million in 2017[16]. - Basic earnings per share for 2018 were ¥0.53, down 30.26% from ¥0.76 in 2017[16]. - The weighted average return on net assets was 6.19%, a decrease of 3.59% from 9.78% in 2017[16]. - Total assets increased by 20.50% to ¥1,431,743,491.18 from ¥1,188,124,786.30[17]. - Net assets attributable to shareholders decreased by 4.27% to ¥996,171,787.69 from ¥1,040,611,822.11[17]. - The company reported a net profit of CNY 63.32 million for the year, while the net cash flow from operating activities was only CNY 0.75 million, indicating a significant discrepancy due to increased working capital needs[109]. - The company’s gross profit margin for the electronic industry was 25.24%, a decrease of 5.18% compared to the previous year[95]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of ¥2.00 per 10 shares to all shareholders, based on a total share capital of 121,877,200 shares[5]. - The cash dividend for 2018 is based on the total share count after deducting treasury shares, which were 821,200[159]. - The cash dividend for 2018 accounted for 37.80% of the net profit attributable to shareholders, while in 2017 and 2016, the ratios were 42.91% and 58.90%, respectively[158]. - The total cash dividend for 2018, including other methods such as share buybacks, reached CNY 94,250,961.18, representing 100% of the profit distribution[159]. - The company has committed to maintaining a minimum cash dividend ratio of 20% during profit distributions[159]. Acquisitions and Investments - The company completed the acquisition of 100% equity in Lianyun Acoustic Technology for 180 million yuan to enhance its product offerings in TWS and HiFi headphones[74]. - The company acquired a 30% stake in its Indian subsidiary, Yingtong (India) Electronics Technology Co., Ltd., and invested an additional 15 million yuan to enhance competitive advantage[79]. - The company invested 16.36 million yuan in Hunan Jialin New Materials Co., Ltd. to enhance vertical integration of its supply chain[76]. - The company has implemented new strategies to improve operational efficiency, aiming for a 5% reduction in costs over the next year[168]. - The company plans to pursue strategic acquisitions to enhance its product offerings and market reach, with a budget of 500 million yuan allocated for potential deals[168]. Research and Development - Research and development expenses amounted to 43.67 million yuan, accounting for 4.87% of total revenue, with a year-on-year increase of 8.67%[82]. - The company has participated in over 20 technology projects, achieving significant breakthroughs in areas such as adaptive noise cancellation systems and voice recognition[49]. - The company is committed to continuous R&D investment, focusing on products such as car voice control Bluetooth headsets and smart home speakers, with a goal of enhancing technological capabilities and product advantages[144]. - Research and development investments increased by 30%, totaling 150 million yuan, aimed at advancing new technologies[168]. Operational Efficiency and Management - The company has adopted a production model based on customer-specific requirements, ensuring timely delivery[36]. - The company has implemented strict procurement management systems to ensure quality and cost control in raw material sourcing[34]. - The company will focus on vertical integration in its supply chain, particularly in injection molding and SMT, to create new profit growth points[142]. - The company will implement a new performance evaluation mechanism in 2019, integrating talent management and incentive plans to enhance employee motivation[143]. Market Position and Strategy - The company maintains a leading position in the industry, focusing on acoustic components, headphones, and data cables, with a strong emphasis on R&D[27][28]. - The company has established long-term partnerships with major brands such as Apple, Xiaomi, and Sony, enhancing its market presence[28]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share within the next two years[168]. - The company aims to become a leading overall solution provider in the communication wire and acoustic product industry, focusing on "smart, wireless, and high-fidelity" acoustic products and "thinner, faster" data cable products[141]. Financial Management and Compliance - The company has committed to not using idle raised funds to temporarily supplement working capital for a period of twelve months following any investment or establishment of investment funds[173]. - The company is committed to maintaining compliance with regulatory requirements, ensuring transparency in financial reporting and corporate governance[168]. - The company has adhered to its cash dividend policy, ensuring transparency and compliance with regulations[156]. - The company will ensure that the equity distribution complies with listing requirements after any share repurchase by directors and senior management[163]. Risks and Challenges - The company faces foreign exchange risks due to its export trade primarily settled in USD, which may impact gross margins[146]. - The company is exposed to risks from concentrated major customers, as its data cables and communication wires are primarily supplied to well-known international brands[149]. - The company has no significant accounting errors that require retrospective restatement during the reporting period[179]. - There were no major lawsuits or arbitration matters during the reporting period[182].

Financial Performance - The company's operating revenue for Q1 2019 was CNY 241,135,603.72, representing a 48.00% increase compared to CNY 162,928,923.21 in the same period last year[8]. - The net profit attributable to shareholders was CNY 6,017,804.94, up 15.85% from CNY 5,194,404.03 year-on-year[8]. - Basic earnings per share increased by 25.00% to CNY 0.05 from CNY 0.04 in the same period last year[8]. - The company reported a decrease of 8.73% in net profit after deducting non-recurring gains and losses, amounting to CNY 3,688,071.56 compared to CNY 4,041,008.32 in the previous year[8]. - The total operating revenue for the first quarter of 2019 was CNY 241,135,603.72, an increase from CNY 162,928,923.21 in the same period last year, representing a growth of approximately 47.8%[47]. - The total operating costs for the first quarter of 2019 were CNY 236,780,212.15, up from CNY 158,712,553.12, indicating an increase of about 49.2%[47]. - The net profit for the first quarter of 2019 was not explicitly stated, but the increase in revenue and costs suggests a focus on growth strategies despite rising expenses[47]. - The total profit for the quarter reached CNY 6,915,181.95, up from CNY 5,747,098.29, reflecting a growth of 20.3% year-over-year[49]. - The total comprehensive income for the quarter was CNY 4,930,500.38, compared to CNY 3,628,311.77, representing a growth of 36%[50]. - Operating profit for the quarter was CNY 6,525,589.31, an increase from CNY 5,560,375.57, marking a rise of 17.4%[49]. Cash Flow and Liquidity - The net cash flow from operating activities surged to CNY 32,125,503.18, a significant increase of 1,243.33% compared to CNY 2,391,481.93 in the previous year[8]. - Cash flow from operating activities increased by 29.73 million yuan, as cash inflows exceeded outflows during the reporting period[21]. - The company's cash and cash equivalents decreased to CNY 181,555,231.40 from CNY 219,931,926.16 at the end of 2018, reflecting a decline of about 17.4%[38]. - The total cash and cash equivalents at the end of the period were ¥91,829,346.82, a decrease from ¥228,835,491.32 at the end of the previous year, reflecting a net decrease of ¥38,376,694.76 in cash and cash equivalents[58]. - The company received tax refunds totaling ¥6,292,456.70, an increase from ¥5,736,657.33 in the previous year, indicating improved cash flow from tax-related activities[57]. - The cash outflow for purchasing goods and services was ¥176,603,812.30, up from ¥148,077,304.93 in the same quarter last year, showing an increase of approximately 19.3%[57]. - The company paid ¥55,678,894.06 in employee compensation, which is an increase from ¥52,998,782.41 in the previous year, reflecting a growth of about 5.3%[57]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,391,230,303.35, a decrease of 2.83% from CNY 1,431,743,491.18 at the end of the previous year[8]. - The total assets of the company amounted to approximately CNY 1,391,230,303.35, a decrease from CNY 1,431,743,491.18 at the end of 2018[38]. - The total liabilities decreased from CNY 139,570,341.21 to CNY 121,337,471.42, reflecting a reduction of approximately 13%[45]. - The company's total current liabilities represented approximately 29.7% of total assets[65]. - The company's total equity represented approximately 69.5% of total assets[66]. - The company’s short-term borrowings stood at CNY 40,890,000.00, while accounts payable and notes payable totaled CNY 245,182,639.06[65]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,579[14]. - The largest shareholder, Huang Hui, holds 31.20% of the shares, amounting to 38,287,800 shares, with a portion pledged[14]. - The company has repurchased a total of 3,691,200 shares, accounting for 3.0084% of the total share capital, with a total expenditure of CNY 69,699,188[28]. - The highest and lowest repurchase prices were CNY 20.30 and CNY 16.70 per share, respectively[28]. Operational Changes and Expenses - Management expenses increased by 81% year-on-year, mainly due to the addition of Lianyun Acoustics and significant increases in salaries and travel expenses[21]. - Research and development expenses for the first quarter were CNY 8,574,362.94, slightly down from CNY 9,861,830.43, suggesting a potential shift in focus towards operational efficiency[47]. - The company incurred management expenses of CNY 4,536,581.98, significantly higher than CNY 1,008,186.96 in the previous year, reflecting an increase of 350%[52]. - Investment income for the quarter was CNY 698,134.26, down from CNY 1,258,806.84, showing a decline of 44.4%[53]. Acquisitions and Investments - The company completed the acquisition of 100% of Lianyun Acoustics for 180 million yuan, with the payment made in December 2018[23]. - The company granted restricted stock and stock options during the reporting period, which accounted for CNY 2,952,009.76 of the net profit[9]. - Other current assets increased by 56% compared to the beginning of the year, mainly due to an increase of 78 million yuan in financial products[21]. - The company reported a significant increase in cash inflow from other investment activities, totaling ¥288,231,646.46, compared to ¥325,640,936.07 in the previous year[58]. Financial Standards and Compliance - The company executed a new financial standard starting January 1, 2019, adjusting CNY 30,000,000 from available-for-sale financial assets to other equity instruments[66]. - The company reported no violations regarding external guarantees during the reporting period[32]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[33].

Financial Performance - The company's operating revenue for 2018 was approximately ¥896.45 million, representing a 24.22% increase compared to ¥721.69 million in 2017[16] - The net profit attributable to shareholders decreased by 24.83% to ¥64.49 million in 2018 from ¥85.79 million in 2017[16] - The net profit after deducting non-recurring gains and losses was ¥55.58 million, down 24.26% from ¥73.38 million in the previous year[16] - Basic earnings per share decreased by 30.26% to ¥0.53 in 2018, down from ¥0.76 in 2017[16] - The weighted average return on net assets was 6.19%, a decline of 3.59% from 9.78% in the previous year[16] - The company achieved a revenue of 896.45 million yuan in 2018, representing a year-on-year growth of 24.22%[65] - The net profit attributable to the parent company was 64.49 million yuan, a decrease of 24.83% compared to the previous year[65] - Total assets reached 1.43 billion yuan, up 20.50% year-on-year, while total liabilities increased significantly by 198.72% to 435.57 million yuan[65] Cash Flow and Investments - The net cash flow from operating activities significantly dropped by 88.44% to ¥7.45 million, compared to ¥64.44 million in 2017[16] - The company reported a net cash flow from operating activities of ¥33,707,057.75 in Q4 2018, indicating strong cash generation capabilities[21] - Cash and cash equivalents decreased by 32.83%, mainly due to share buybacks and increased expenditures related to Huizhou Lianyun[44] - The company reported a total cash inflow from investment activities surged by 231.62% to ¥1,598,804,670.63, while cash outflow increased by 118.62%[106] - Financing cash inflows decreased by 93.09% year-on-year, attributed to new short-term loans of 40.89 million yuan compared to 476.39 million yuan from the previous year's IPO[107] Acquisitions and Partnerships - The company completed the acquisition of 100% equity in Lianyun Acoustic Technology Co., Ltd. for 180 million yuan, enhancing its product offerings in TWS and HiFi headphones[74] - The company acquired a 30% stake in Yingtong (India) Electronics Technology Co., making it a wholly-owned subsidiary, and invested an additional 15 million yuan[79] - The company has established long-term partnerships with major clients such as Apple, Xiaomi, vivo, BOSE, and Amazon, which contributes to a stable revenue base due to high market concentration in the consumer electronics industry[47] - The company completed the acquisition of 100% equity of Lianyun Acoustic in December 2018, expanding its market presence[178] Research and Development - Research and development expenses amounted to 43.67 million yuan, accounting for 4.87% of total revenue[81] - The company plans to enhance its R&D capabilities in precision molds, automation equipment, TWS headphones, and wireless charging technologies[104] - Significant R&D investments will be made in products such as voice-controlled Bluetooth headsets and smart home speakers, with a focus on acquiring relevant patents[142] - The company has established a post-doctoral industrial base and multiple R&D centers, fostering collaboration with institutions like the Chinese Academy of Sciences[49] Production and Operations - The company maintains a leading position in the industry, focusing on acoustic components, headphones, and data cables, with significant R&D investments[27] - The company has enhanced its production capabilities through smart assembly investments and high-end talent acquisition[28] - The company operates seven production bases across various regions, enhancing its cost, quality, and rapid response advantages through scale production[53] - The company has developed advanced manufacturing processes, such as automatic Bluetooth noise reduction testing, which significantly improves efficiency and product quality[57] Risk Management - The company has faced significant risks and has detailed these in the report, urging investors to maintain awareness of investment risks[5] - The company faces risks related to technological innovation, particularly in maintaining competitive advantages in Bluetooth and wired headphone technologies[146] - The company emphasizes the importance of improving operational and production management to mitigate management risks as it expands[148] Shareholder and Stock Management - The company plans to distribute a cash dividend of ¥2.00 per 10 shares to all shareholders, based on a total share capital of 121,877,200 shares[5] - The profit distribution plan for 2018 proposes a cash dividend of 2.00 CNY per 10 shares, totaling approximately 24,375,440.00 CNY (including tax) based on 121,877,200 shares[157] - The company has a clear and stable profit distribution mechanism in place, adhering to its established policies without adjustments during the reporting period[153] - The company has implemented share repurchase commitments for shares held prior to the public offering, which are currently being fulfilled normally[159] Market Outlook and Strategy - The company provided a future outlook projecting a revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion[164] - The company plans to expand its market presence in Southeast Asia, targeting a 30% market share in the region by 2020[163] - The company aims to launch three new products in the next quarter, which are anticipated to contribute an additional 200 million RMB in revenue[165] - The company is investing 50 million in R&D for new technologies aimed at enhancing product features and user experience[170] Compliance and Governance - The company has not faced any major litigation or arbitration matters during the reporting period[180] - The company engaged Tianjian Accounting Firm for audit services, with a fee of RMB 500,000, and has maintained this auditor for five consecutive years[179] - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[173]

湖北瀛通通讯线材股份有限公司 2018 年第三季度报告正文 证券代码：002861 证券简称：瀛通通讯 公告编号：2018-094 湖北瀛通通讯线材股份有限公司 2018 年第三季度报告正文 1 湖北瀛通通讯线材股份有限公司 2018 年第三季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 除下列董事外，其他董事亲自出席了审议本次季报的董事会会议 | 未亲自出席董事姓名 | 未亲自出席董事职务 | 未亲自出席会议原因 | 被委托人姓名 | | --- | --- | --- | --- | | 孔英 | 独立董事 | 个人原因 | 李晓东 | 公司负责人黄晖、主管会计工作负责人吴中家及会计机构负责人(会计主管 人员)丁恨几声明：保证季度报告中财务报表的真实、准确、完整。 2 湖北瀛通通讯线材股份有限公司 2018 年第三季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | ...

Financial Performance - The company's operating revenue for the first half of 2018 was ¥396,378,664.07, representing a 14.95% increase compared to ¥344,836,587.65 in the same period last year[16]. - The net profit attributable to shareholders decreased by 36.97% to ¥28,288,291.88 from ¥44,879,255.09 year-on-year[16]. - Basic earnings per share dropped by 47.46% to ¥0.2306 from ¥0.4389 in the same period last year[16]. - The weighted average return on net assets decreased to 2.68% from 6.10% in the previous year[16]. - The company reported a total comprehensive income of CNY 26,973,271.52, down from CNY 43,514,221.16, a decrease of 38.0%[165]. - The net profit for the first half of 2018 was CNY 26,914,098.21, a decrease of 38.8% from CNY 43,946,440.34 in the previous year[165]. - The net profit attributable to shareholders of the parent company was CNY 28,288,291.88, down 37.0% from CNY 44,879,255.09[165]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at ¥-11,637,343.09, a decline of 123.31% compared to ¥49,934,334.05 in the previous year[16]. - The company reported a significant decrease in cash and cash equivalents, with a net decrease of CNY -130,324,871.89, down 158.91% from the previous year[58]. - Cash and cash equivalents at the end of the period totaled 197,122,204.66 CNY, down from 368,592,183.87 CNY in the previous period, indicating a decrease in liquidity[172]. - The company generated cash flow from operating activities amounting to CNY 469,116,986.42, compared to CNY 382,277,942.42 in the previous period, reflecting an increase of 22.7%[170]. - The cash outflow for operating activities was 501,907,788.71 CNY, compared to 350,997,643.76 CNY in the previous period, showing increased operational costs[171]. Investments and Capital Expenditures - The company has invested 77.99 million CNY in its manufacturing facility in India, with a current operating loss of 5.22 million CNY, representing 7.55% of the company's net assets[41]. - The investment in the Vietnam facility amounts to 49.24 million CNY, with an operating loss of 2.50 million CNY, accounting for 4.77% of the company's net assets[42]. - The total committed investment for the portable digital communication cable project is CNY 7,098.79 million, with a cumulative investment of CNY 2,098.77 million, representing 29.57% of the planned investment progress[75]. - The portable digital data transmission line construction project has a total committed investment of CNY 9,991.06 million, with a cumulative investment of CNY 377.68 million, which is only 3.78% of the planned investment progress[75]. - The company has a remaining balance of CNY 284,960,517.00 in unused raised funds as of June 30, 2018, which will continue to be used for various projects[76]. Research and Development - Research and development expenses increased by 32.89% to CNY 21,411,271.22, driven by an expansion of the R&D team and salary increases[58]. - As of June 30, 2018, the company holds a total of 198 patents, including 48 invention patents and 145 utility model patents, showcasing its strong R&D capabilities[44]. - The company has developed core design and manufacturing technologies for acoustic products, particularly fine communication wires for headphones, and has been supplying well-known international brands in bulk for several years[25]. - The company is focusing on new product development and technological advancements to drive growth[129]. Market and Competitive Position - The company has entered the supply chains of several top international consumer electronics brands, becoming one of their main suppliers, indicating a strong competitive advantage in the industry[25]. - The global headphone market is experiencing steady growth, driven by consumer demand for portable, personalized, and high-fidelity wireless products, which presents opportunities for the company[39]. - The company faces competitive pressure from concentrated market clients and rapid technological updates, necessitating strong customer service and R&D capabilities[39]. - The revenue is primarily derived from well-known terminal brand manufacturers and large EMS manufacturers, indicating a high customer concentration risk[86]. Operational Efficiency - The company maintains a one-month inventory of materials to ensure smooth production operations, following a "sales-driven production" model[32]. - The company’s sales model is direct, with products delivered directly to customers without intermediaries, enhancing efficiency and customer service[35]. - The company has established a comprehensive quality control system, achieving ISO9001 and ISO14001 certifications across its production facilities[45]. - The company employs a vertical integration model in its production process, allowing for better coordination between R&D and manufacturing, thus reducing operational costs[49]. Shareholder and Governance Matters - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company has a registered capital of 12,269.84 million CNY, indicating a solid capital base for operations[187]. - The company has established a multi-tier governance structure, which includes a board of directors and several specialized committees, promoting effective management[188]. - The company has undergone changes in its business registration for a wholly-owned subsidiary, reflecting operational adjustments[116]. Social Responsibility - The company has invested a total of 1.5 million yuan in targeted poverty alleviation efforts during the reporting period[112]. - The company has established a dedicated workshop and dormitory for disabled individuals, promoting the concept of "integration of the disabled and able-bodied"[111]. - The company plans to assist vulnerable groups through employment poverty alleviation, with a facility capable of accommodating 500 workers[113].

湖北瀛通通讯线材股份有限公司 2018 年第一季度报告正文 证券代码：002861 证券简称：瀛通通讯 公告编号：2018-034 湖北瀛通通讯线材股份有限公司 2018 年第一季度报告正文 1 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 湖北瀛通通讯线材股份有限公司 2018 年第一季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人黄晖、主管会计工作负责人吴中家及会计机构负责人(会计主管 人员)丁恨几声明：保证季度报告中财务报表的真实、准确、完整。 2 湖北瀛通通讯线材股份有限公司 2018 年第一季度报告正文 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | | --- | --- | --- | --- | --- | | 营业收入（元） | 162,928,923.21 | 139,447,543.41 | | 16.84% | | ...

Financial Performance - The company's operating revenue for 2017 was approximately ¥721.69 million, representing a 19.15% increase compared to ¥605.68 million in 2016[17]. - The net profit attributable to shareholders for 2017 was approximately ¥85.79 million, a decrease of 17.63% from ¥104.15 million in 2016[17]. - The net cash flow from operating activities decreased by 32.10% to approximately ¥64.44 million in 2017, down from ¥94.91 million in 2016[17]. - Basic earnings per share for 2017 were ¥0.76, a decline of 32.74% compared to ¥1.13 in 2016[18]. - The total assets of the company increased by 73.07% to approximately ¥1.19 billion at the end of 2017, up from ¥686.50 million at the end of 2016[18]. - The net assets attributable to shareholders rose by 85.09% to approximately ¥1.04 billion at the end of 2017, compared to ¥562.21 million at the end of 2016[18]. - Total revenue for the year was 721,688,400.67 CNY, with a quarterly breakdown of 139,447,543.41 CNY in Q1, 205,389,044.24 CNY in Q2, 176,269,303.39 CNY in Q3, and 200,582,509.63 CNY in Q4[22]. - Net profit attributable to shareholders for the year was 85,788,219.04 CNY, with quarterly figures of 15,349,626.11 CNY in Q1, 29,529,628.98 CNY in Q2, 17,621,951.77 CNY in Q3, and 23,287,012.18 CNY in Q4[22]. - The net cash flow from operating activities for the year was 64,439,774.14 CNY, with a significant drop in Q4 to 3,352,777.29 CNY compared to 35,841,702.26 CNY in Q2[22]. - The company achieved a revenue of 721.69 million CNY in 2017, a 19.15% increase from 605.68 million CNY in the previous year[55]. - The net profit attributable to shareholders was 85.79 million CNY, a decrease of 17.63% compared to 104.15 million CNY in the previous year[55]. - The increase in revenue was primarily driven by the sales growth of acoustic products, particularly Bluetooth earphones, which began mass production[55]. Investment and R&D - The company invested 40.19 million CNY in R&D, accounting for 5.57% of total revenue, and held 182 valid patents by the end of 2017[59]. - The company has developed core design and manufacturing technologies for its products, transitioning from components to semi-finished and finished products[27]. - The company has expanded its production capabilities with new facilities in India and Vietnam, increasing its fixed assets by approximately 1,559.09 million yuan in Vietnam and 1,092.77 million yuan in India[42]. - The company has a flexible manufacturing capability, allowing for quick turnaround from order receipt to production, with mature products taking only 1-2 weeks to deliver[46]. - The company has adopted advanced manufacturing processes, maintaining high production efficiency and product yield, which are critical for meeting large customer demands[46]. - The company has invested significantly in quality control, achieving ISO9001 and ISO14001 certifications, which enhances its reputation and reliability in the market[45]. - The company has increased its R&D personnel by 49.37% to 236, with R&D investment amounting to ¥40,190,804.07, a 36.25% increase from the previous year[78]. Market Position and Strategy - The company continues to invest in new technologies and market expansion strategies to enhance its competitive position[5]. - The company has entered the supply chains of top international consumer electronics brands, enhancing its competitive advantage in the industry[27]. - The company is positioned to benefit from the growing demand for high-quality audio products and data transmission cables, driven by technological advancements and consumer preferences[40]. - The company has established a direct sales model, eliminating intermediaries, which allows for better control over production and customer relationships[36]. - The company has a strong customer advantage, having established stable partnerships with major international brands such as Apple, Sony, and Samsung, which ensures a steady flow of large orders[43]. - The company has implemented a vertical integration production model to enhance coordination between R&D and manufacturing, reducing operational costs[49]. - The company plans to optimize its production capabilities and enhance its design and R&D capabilities to provide ODM services, aiming to improve competitiveness in the global consumer electronics market[104]. Risks and Challenges - The company has identified key risks in its future operations, which are discussed in the report[5]. - The company faces increased costs due to rising prices of raw materials and labor, impacting profit margins[56]. - The company faces risks related to exchange rates, as its products are primarily exported and priced in USD, which affects profit margins[107]. - The company’s revenue is primarily derived from well-known terminal brand manufacturers and large EMS manufacturers in the consumer electronics industry, indicating a high customer concentration risk[108]. - The company faces potential risks if there are adverse changes in the macroeconomic environment or if the demand from its concentrated customer base declines[108]. Corporate Governance and Shareholder Actions - The company has established a comprehensive management system and governance structure, with eight subsidiaries, five production bases, and four R&D centers, which raises the demand for improved management and operational alignment[108]. - The cash dividend distribution plan for 2017 proposes a distribution of 3 RMB per 10 shares, totaling 36,809,520 RMB, with the remaining undistributed profits carried forward to future years[114]. - In 2017, the cash dividend payout ratio was 42.91% of the net profit attributable to ordinary shareholders, while in 2016, it was 58.90%[116]. - The company strictly adhered to its profit distribution policy during the reporting period, with no adjustments made to the policy[112]. - The company has a commitment to maintaining a stable and scientific return mechanism for investors, ensuring compliance with shareholder meeting resolutions[113]. - The company reported a stable stock price since its IPO in October 2014, with commitments to maintain stock price stability for 36 months[120]. - The company plans to implement stock buyback measures if the stock price falls below the audited net asset value per share for the previous fiscal year[122]. - The company aims to enhance investor confidence and protect shareholder interests through stock price stabilization measures[121]. Social Responsibility - The company has actively participated in social responsibility initiatives, including providing fair job opportunities for disabled individuals[166]. - The company has committed 200,000 yuan to targeted poverty alleviation efforts during the reporting period[168]. - The company has engaged in external donations, reflecting its commitment to corporate social responsibility[181]. IPO and Financial Management - The company completed its initial public offering (IPO) on April 10, 2017, issuing 30,680,000 shares at a price of RMB 17.25 per share, and began trading on April 13, 2017[188]. - The total number of shares after the IPO increased to 122,698,400, with 30,680,000 new shares issued[186]. - The company has been actively managing its idle funds, utilizing them for cash management purposes[182]. - The company has signed a tripartite supervision agreement regarding the use of raised funds, ensuring compliance with regulatory requirements[177].