Financial Performance - The company's operating revenue for 2021 was CNY 1,909,574,153.54, representing a 45.35% increase compared to CNY 1,313,750,643.23 in 2020[19] - The net profit attributable to shareholders for 2021 was CNY 19,928,319.96, a decrease of 39.24% from CNY 32,797,770.81 in 2020[19] - The net profit after deducting non-recurring gains and losses was CNY -17,749,355.71, a decline of 610.11% compared to CNY 3,479,530.10 in 2020[19] - The net cash flow from operating activities was CNY -131,261,616.68, down 229.90% from CNY 101,045,399.08 in 2020[19] - The basic earnings per share for 2021 was CNY 0.1107, a decrease of 38.50% from CNY 0.1800 in 2020[19] - Total assets at the end of 2021 were CNY 1,869,861,010.14, an increase of 14.81% from CNY 1,628,676,179.23 at the end of 2020[19] - The net assets attributable to shareholders at the end of 2021 were CNY 813,096,567.23, a slight increase of 1.32% from CNY 802,472,560.88 at the end of 2020[19] Cash Flow and Investments - The company reported a significant decline in cash flow and profitability, indicating potential challenges in sustaining operations[19] - The net cash flow from operating activities turned negative at -131,261,616.68 CNY in 2021, a decrease of 229.90% from a positive 101,045,399.08 CNY in 2020[60] - Investment cash inflow decreased by 16.14% to 119,217,423.31 CNY in 2021, while investment cash outflow dropped significantly by 59.63% to 93,459,403.29 CNY[61] - The net cash flow from financing activities increased by 176.38% to 30,480,277.86 CNY in 2021, primarily due to reduced cash outflow for debt repayment[61] Revenue Segmentation - The electronic components segment generated ¥1,831,977,147.67, accounting for 95.94% of total revenue, with a year-on-year growth of 44.50%[47] - The special transformers segment saw a significant increase in revenue, rising by 149.14% to ¥582,247,555.00, compared to ¥233,699,267.52 in 2020[47] - Domestic sales amounted to ¥1,087,598,781.49, a 21.38% increase from ¥669,944,231.33, while overseas sales grew by 70.30% to ¥821,975,372.05[47] Research and Development - Research and development expenses increased by 39.48% to ¥90,727,237.26, reflecting the company's commitment to innovation[56] - The company holds 32 invention patents, 155 utility model patents, and 41 design patents, demonstrating strong R&D capabilities[42] - The total number of R&D personnel increased by 4.44% from 405 in 2020 to 423 in 2021, with a notable rise in the number of PhD holders[58] Market Opportunities and Industry Trends - The global demand for electronic transformers is expected to reach approximately 16.6 billion units by 2024, with a market value of around ¥633 billion[31] - The photovoltaic industry is projected to see a compound annual growth rate of 13.3% in new installed capacity in China by 2025, reaching 90 GW under conservative estimates[34] - The company has identified opportunities in the photovoltaic and new energy vehicle sectors, which are aligned with national development strategies[34] Corporate Governance and Compliance - The company maintains a strict separation from its controlling shareholders in terms of business operations, assets, personnel, and finances, ensuring complete independence[90] - The company has established an independent financial department with a complete financial accounting system, allowing for independent financial decision-making[91] - The governance structure includes a board of directors, supervisory board, and various committees to ensure effective decision-making and oversight[146] Shareholder Engagement and Dividends - The company plans to distribute a cash dividend of CNY 0.30 per 10 shares (including tax) to all shareholders[4] - The total distributable profit at the end of the reporting period was CNY 350.90 million, after accounting for retained earnings and dividends paid[132] - The cash dividend distribution accounted for 100% of the total profit distribution[132] Risk Management - The company faces risks from market competition and potential order reductions due to economic fluctuations[80] - The company is enhancing its risk management strategies to mitigate the impact of raw material price volatility and exchange rate fluctuations[81] Employee and Talent Management - The total number of employees at the end of the reporting period was 3,787, with 1,276 in the parent company and 1,342 in major subsidiaries[124] - The company emphasizes employee rights protection, offering competitive salary and benefits, including "five insurances and one fund," paid leave, and performance-based compensation[127] - The training plan for 2022 focuses on aligning with company strategy, enhancing key talent development, and improving employee skills through various training methods[128] Environmental and Social Responsibility - The company actively responded to national environmental policies and implemented measures to reduce carbon emissions, adhering to green development principles[143] - The company maintains a commitment to social responsibility, focusing on creating value for shareholders, employees, customers, and society[144] Strategic Initiatives and Future Outlook - The company plans to expand its market presence and is focusing on new product development to enhance its competitive edge[100] - Future guidance indicates a positive outlook with expected revenue growth driven by new technology advancements and market expansion strategies[100] - The company is focused on enhancing asset operation efficiency through strategic investments and expansions in key regions[190]

证券代码：002885 证券简称：京泉华 公告编号：2021-054 深圳市京泉华科技股份有限公司 2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 重要内容提示: 1 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、 误导性陈述或重大遗漏，并承担个别和连带的法律责任。 证券代码：002885 证券简称：京泉华 公告编号：2021-054 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信 息的真实、准确、完整。 3.第三季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 本报告期比上年同期增 | 年初至报告期末 | 年初至报告期末比上年 | | --- | --- | --- | --- | --- | | | | 减 | | 同期增减 | | 营业收入（元） | 543,041,004.62 | 47.23% | 1,337,918,6 ...

Financial Performance - The company's operating revenue for the first half of 2021 was ¥794,877,672.49, representing a 41.23% increase compared to ¥562,814,677.31 in the same period last year[19]. - The net profit attributable to shareholders of the listed company decreased by 86.37% to ¥4,288,508.76 from ¥31,469,903.43 year-on-year[19]. - The net cash flow from operating activities was negative at ¥101,302,463.24, a decline of 267.52% compared to ¥60,470,165.47 in the previous year[19]. - The total assets at the end of the reporting period increased by 7.87% to ¥1,756,801,916.76 from ¥1,628,676,179.23 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company decreased by 0.61% to ¥797,610,548.05 from ¥802,472,560.88 at the end of the previous year[19]. - The basic earnings per share dropped by 86.38% to ¥0.0238 from ¥0.1748 in the same period last year[19]. - The company reported a significant decline in net profit after deducting non-recurring gains and losses, with a loss of ¥4,476,706.91 compared to a profit of ¥24,710,883.00 in the previous year, marking a decrease of 118.12%[19]. - The weighted average return on net assets fell to 0.53% from 3.96% year-on-year, a decrease of 3.43 percentage points[19]. - The company reported a total revenue of 8,765,215.67 million CNY for the first half of 2021[24]. - The revenue from electronic components accounted for 97.66% of total revenue, amounting to ¥776,265,084.23, with a year-on-year growth of 41.94%[46]. - The company reported a net increase in cash and cash equivalents of -¥107,294,306.53, a significant increase of 1,024.27% compared to -¥9,543,493.61 in the previous year[47]. - The company reported a total comprehensive income of CNY 14,124,262.52 for the current period, which includes a profit distribution of CNY -6,296,285.56 to shareholders[159]. Operational Highlights - The company focuses on the electronic manufacturing industry, providing solutions for magnetic components and power products[27]. - The company has developed new products in the smart power category, which is part of its customized power solutions[27]. - The company emphasizes the importance of high-frequency technology in electronic transformers to meet the demands of miniaturization in electronic products[32]. - The company adheres to a business philosophy focused on improving the quality of life through advanced electronic products[27]. - The company has accumulated 30 invention patents, 138 utility model patents, and 41 design patents, showcasing strong R&D capabilities[38]. - The company maintains long-term stable partnerships with several Fortune 500 companies, ensuring a steady order flow and growth potential[40]. - The company emphasizes technological innovation as a core driver for business upgrades, focusing on market demand in product development[37]. - The company has established a two-integration management system to enhance product quality and market competitiveness[41]. - The company has implemented an information technology platform, integrating various management systems to improve operational efficiency and decision-making[41]. - The company has developed a design platform for automotive-grade electromagnetic components and various structural models for electromagnetic components[38]. Market and Industry Outlook - The global demand for electronic transformers is expected to reach approximately 16.6 billion units by 2024, with a market size of about 63.3 billion CNY[32]. - China's cumulative installed capacity for photovoltaic power generation is projected to reach 805.2 GW by 2025, with a compound annual growth rate of 26.9% from 2021 to 2025[33]. - The company is positioned to benefit from the growing demand in the new energy vehicle sector, with sales expected to reach 5.3 million units by 2025[34]. - The 5G industry is projected to create an economic output of 13.2 trillion USD globally by 2035, significantly contributing to various sectors[35]. Financial Risks and Challenges - The company faces market risks due to industry competition and potential fluctuations in customer orders, which could impact market share and profitability[64]. - Major raw material price fluctuations, particularly for copper and silicon steel, pose risks to production costs and gross margins[64]. - The company is exposed to exchange rate fluctuations, which can affect export pricing competitiveness and result in exchange losses[65]. - Rising labor costs in the technology and labor-intensive industry may lead to increased operating costs and potential profit declines if revenue growth slows[65]. - The company plans to expand its overseas market presence, particularly in Southeast Asia, Europe, and North America, but faces uncertainties related to local political and economic conditions[65]. Shareholder and Equity Information - The company plans to repurchase shares with a total fund not exceeding RMB 40 million and not less than RMB 20 million, with a maximum price of RMB 18.65 per share[106]. - As of June 30, 2021, the company has repurchased a total of 106,000 shares, approximately 0.059% of the total share capital, with a total transaction amount of RMB 1,265,112[107]. - The company’s executives have locked 75% of their shares as per regulations, ensuring stability in shareholding[105]. - The total number of common shareholders at the end of the reporting period is 21.561 million[109]. - The largest shareholder, Zhang Lipin, holds 19.93% of the shares, totaling 35,874,799 shares[111]. - The total number of unrestricted shares increased from 98,977,506 (54.99%) to 118,413,013 (65.79%) after an increase of 19,435,507 shares[104]. Compliance and Governance - The half-year financial report was not audited, indicating that the financial results are unaudited[80]. - The company has no significant litigation or arbitration matters during the reporting period[83]. - The integrity status of the company and its controlling shareholders is good, with no unfulfilled legal obligations or significant overdue debts[84]. - The company has engaged in wealth management with a total amount of 30 million CNY in bank financial products, with no overdue amounts[97]. - The company has no major guarantees or other significant contracts during the reporting period[96][99]. - The financial statements were approved by the board of directors on August 26, 2021[166]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring the financial statements reflect its financial position accurately[171]. Accounting Policies and Practices - The company’s accounting policies include specific methods for inventory valuation and recognition of revenue, tailored to its operational characteristics[170]. - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired[177]. - The company recognizes foreign exchange differences in profit or loss unless related to capitalizable assets[189]. - Financial assets are classified into three categories: measured at amortized cost, measured at fair value with changes recognized in other comprehensive income, and measured at fair value with changes recognized in profit or loss[192].

Financial Performance - The company's operating revenue for 2020 was CNY 1,313,750,643.23, a decrease of 1.43% compared to CNY 1,332,821,585.18 in 2019[14]. - The net profit attributable to shareholders for 2020 was CNY 32,797,770.81, down 37.01% from CNY 52,064,135.20 in 2019[14]. - The net profit after deducting non-recurring gains and losses was CNY 3,479,530.10, a significant decline of 93.23% compared to CNY 51,413,079.98 in 2019[14]. - The net cash flow from operating activities increased by 60.48% to CNY 101,045,399.08 from CNY 62,964,527.62 in 2019[14]. - The total assets at the end of 2020 were CNY 1,628,676,179.23, reflecting a growth of 5.78% from CNY 1,539,627,931.75 at the end of 2019[14]. - The net assets attributable to shareholders increased by 2.83% to CNY 802,472,560.88 from CNY 780,392,687.16 at the end of 2019[14]. - The basic earnings per share for 2020 were CNY 0.18, a decrease of 37.93% from CNY 0.29 in 2019[14]. - The weighted average return on equity was 4.14%, down from 6.86% in 2019, indicating a decline of 2.72%[14]. - The company's operating profit was CNY 30.20 million, down 42.58% year-on-year, while total profit decreased by 42.33% to CNY 29.92 million[58]. - Net profit attributable to shareholders was CNY 32.80 million, reflecting a decline of 37.01% compared to the previous year[58]. Revenue and Sales - In Q1 2020, the company's operating revenue was approximately CNY 228.12 million, increasing to CNY 382.11 million in Q4 2020, representing a growth of 67.5% over the year[19]. - The electronic components segment generated CNY 1,276.30 million, representing 97.15% of total revenue, while the power supply segment saw a 33.87% increase in revenue to CNY 485.61 million[64]. - Domestic sales accounted for 49.01% of total revenue, while overseas sales made up 50.99%, indicating a balanced market presence[64]. - Revenue from power supplies increased by 33.87% year-over-year to approximately ¥485.61 million, with a gross margin of 15.76%, down 2.53%[66]. - The company sold 119,627,636 electronic components, a slight decrease of 0.84% compared to the previous year, while production increased by 0.26%[68]. Research and Development - The company holds 29 invention patents, 107 utility model patents, and 25 design patents, indicating strong R&D capabilities[45]. - The company plans to increase R&D investment to enhance core competitiveness and expand business scale in the coming years[60]. - R&D expenses increased by 14.03% to approximately ¥65.05 million, reflecting the company's commitment to innovation[74]. - The company is developing several new products, including a PCB AC-DC transformer and a new type of high-voltage direct current transformer, to meet market demands[76][77]. Market Outlook and Strategy - The global demand for electronic transformers is projected to recover, with an estimated demand of 166 billion units and a market size of approximately CNY 633 billion by 2024[34]. - The photovoltaic market in China is expected to grow significantly, with a projected cumulative installed capacity reaching 805.2 GW by 2025, driven by strong government policies[36]. - The company is committed to developing products related to clean energy and new energy vehicles, aligning with national strategies to promote sustainable development[25]. - The company aims to expand into new energy automotive magnetic devices, 5G communication, and large power storage systems[98]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of CNY 0.35 per 10 shares to all shareholders[4]. - The cash dividend payout ratio for 2020 is 19.21%, compared to 17.29% in 2019 and 11.29% in 2018, indicating a consistent increase in dividend distribution relative to net profit[115]. - The total cash dividend amount for 2020 is CNY 6,300,000, which is fully allocated from the distributable profit[115]. - The company has maintained a commitment to return profits to shareholders while sharing the results of its rapid business growth[117]. Operational Efficiency - The implementation of an integrated information management system has improved operational efficiency and financial transparency[55]. - The company has established a "three-in-one" management approach focusing on IT, automation, and professional personnel to enhance operational effectiveness[51]. - The company reported a significant decrease in investment activities, with total investment amounting to ¥75,726,542.20, a 49.16% decline compared to the previous year[90]. Corporate Governance and Compliance - The company has not experienced any significant changes in its business or product offerings during the reporting period[70]. - The company has not faced any delisting situations following the annual report disclosure[132]. - The company has committed to protecting shareholder rights through various measures, including timely disclosures and compensations if commitments are not fulfilled[125]. - The company has a diverse board of directors with a mix of independent and executive members, ensuring a balanced governance structure[196]. Employee Engagement and Welfare - The company has a dedicated training center for employee development, focusing on enhancing professional and management skills through qualification assessments and targeted training[165]. - The company has implemented an employee welfare program, including a love fund for emergencies and various recreational facilities, to enhance employee satisfaction[168]. - The company maintains a differentiated compensation mechanism based on performance, providing various benefits such as social insurance and housing subsidies to employees[164]. Environmental Responsibility - The company has adopted the ISO14001 environmental management system and focuses on energy conservation and emission reduction as part of its sustainable development strategy[169]. - The company emphasizes environmental protection and has integrated energy-saving measures into its production processes[169].

Financial Performance - The company's operating revenue for Q1 2021 was ¥346,543,645.92, representing a 51.92% increase compared to ¥228,116,706.68 in the same period last year[7] - The net profit attributable to shareholders was a loss of ¥6,657,699.89, a decrease of 207.60% from a profit of ¥6,187,240.49 in the previous year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥9,532,447.70, down 260.32% from ¥5,945,947.04 in the same period last year[7] - The total operating revenue for the first quarter of 2021 was CNY 346,543,645.92, compared to CNY 228,116,706.68 in the same period last year, indicating a significant increase[35] - The total comprehensive income for Q1 2021 was a loss of CNY 5,607,378.11, compared to a profit of CNY 5,954,437.00 in Q1 2020[38] - Net profit for Q1 2021 was a loss of CNY 6,274,477.55, compared to a profit of CNY 5,583,049.62 in Q1 2020, indicating a significant decline in profitability[37] Cash Flow - The net cash flow from operating activities was a negative ¥26,693,638.73, a decline of 144.23% compared to ¥60,346,202.01 in the previous year[7] - The total cash inflow from operating activities was CNY 428,284,301.35, an increase from CNY 372,603,195.28 in the previous period, representing a growth of approximately 15.0%[45] - The net cash outflow from operating activities was CNY -26,693,638.73, compared to a net inflow of CNY 60,346,202.01 in the previous period, indicating a significant decline in operational cash flow[45] - Cash received from sales of goods and services amounted to CNY 392,229,604.32, up from CNY 361,155,274.89, reflecting an increase of about 8.5%[43] - The company received tax refunds amounting to CNY 26,451,859.59, significantly higher than CNY 4,122,483.02 in the previous period, representing an increase of about 541.5%[43] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,636,984,625.87, an increase of 0.51% from ¥1,628,676,179.23 at the end of the previous year[7] - The total liabilities increased to CNY 842,610,577.79 from CNY 827,738,750.84, reflecting a rise in short-term borrowings and accounts payable[29] - The total owner's equity was CNY 800,937,428.39, with a capital reserve of CNY 240,567,599.06[52] - The company's total assets were CNY 1,649,201,677.05 as of January 1, 2021, showing an increase of CNY 20,525,497.82[52] - The total liabilities increased by CNY 20,525,497.82 due to the adjustment from the new leasing standard[52] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 16,157[11] - The basic and diluted earnings per share were both -¥0.04, a decrease of 233.33% from ¥0.03 in the same period last year[7] - The equity attributable to shareholders of the parent company was CNY 795,525,958.23, down from CNY 802,472,560.88[30] Expenses and Investments - The company's gross profit margin decreased due to rising material costs, with operating costs increasing by 63.40% to RMB 314,641,145.48[15] - Research and development expenses rose by 60.94% to RMB 19,511,561.03, reflecting increased investment in R&D[15] - The company reported a significant increase in investment income, which surged by 1605.13% to RMB 5,918,217.94, mainly due to the settlement of foreign exchange forward contracts[15] - The company incurred financial expenses of CNY 1,617,729.38 in Q1 2021, compared to a financial income of CNY -425,322.83 in Q1 2020[36] Inventory and Receivables - The inventory increased to CNY 212,197,770.12 from CNY 180,603,074.53, indicating potential growth in production or sales[30] - The accounts receivable decreased to CNY 500,869,865.27 from CNY 548,044,555.60, showing improved collection efficiency[30] - The balance of receivables financing increased by 36.85% to RMB 51,779,588.49, driven by increased sales[15]

Financial Performance - Operating revenue for the reporting period was ¥368,829,771.51, representing a year-on-year increase of 7.19%[8] - Net profit attributable to shareholders of the listed company was ¥16,014,522.81, up 22.65% year-on-year[8] - Net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 52.18% to ¥5,295,488.23[8] - Basic earnings per share increased by 22.76% to ¥0.0890[8] - The weighted average return on net assets was 1.97%, an increase of 0.27% year-on-year[8] - Total operating revenue for Q3 2020 was CNY 368,829,771.51, an increase of 7.9% compared to CNY 344,086,830.97 in the same period last year[45] - Net profit for Q3 2020 reached CNY 16,008,907.47, compared to CNY 12,647,538.34 in Q3 2019, representing a growth of 26.5%[47] - The net profit for the year-to-date period was ¥46,046,176.49, a slight decrease of 2.2% compared to ¥47,104,325.27 in the previous year[54] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥1,539,506,351.58, a decrease of 0.01% compared to the end of the previous year[8] - The company's total liabilities decreased to CNY 722,590,772.97 from CNY 759,543,817.63, a reduction of about 4.9%[38] - The company's long-term borrowings decreased by 43.78% to ¥62,002,500.00, primarily due to the repayment of bank loans[16] - Total liabilities decreased to CNY 804,031,137.31 from CNY 883,318,169.06, indicating a reduction of 8.9%[43] - The company's total assets amounted to CNY 1,539,506,351.58, a slight decrease from CNY 1,539,627,931.75 at the end of 2019[39] Cash Flow - Net cash flow from operating activities was ¥39,499,979.51, down 13.68% compared to the previous year[8] - Cash flow from operating activities generated a net amount of CNY 99,970,144.98, an increase of 112.0% from CNY 47,102,411.93 in the same period last year[60] - Cash flow from investing activities resulted in a net outflow of CNY 103,314,676.54, slightly improved from a net outflow of CNY 111,613,575.55 in the previous year[61] - The net cash flow from financing activities showed a negative value of -¥87,487,644.61, contrasting with a positive cash flow of ¥76,379,694.26 in Q3 2019[64] Shareholder Information - The company reported a total of 17,972 ordinary shareholders at the end of the reporting period[12] - The largest shareholder, Zhang Lipin, holds 26.57% of the shares, totaling 47,833,065 shares[12] Financial Expenses and Income - The company's financial expenses increased significantly by 1,045.35% to ¥18,756,621.89 due to higher interest expenses and exchange losses compared to the previous period[17] - Other income rose by 85.50% to ¥13,536,098.67, primarily due to an increase in government subsidies received[17] - The company reported a financial expense of ¥9,736,619.41 in Q3 2020, compared to a financial income of ¥5,898,082.51 in the previous year[49] Investment and R&D - Research and development expenses for Q3 2020 were CNY 17,069,219.81, compared to CNY 14,236,325.90 in the same period last year, marking an increase of 19.4%[46] - The company plans to continue focusing on R&D and market expansion strategies to improve future performance[49] Other Financial Metrics - The company recorded a significant increase in credit impairment losses by 432.59% to ¥2,334,608.83, due to an increase in bad debt provisions[17] - The company reported a fair value change gain of CNY 10,492,547.25 in Q3 2020, indicating active management of financial assets[46] - The total comprehensive income for Q3 2020 was CNY 34,782,346.88, down from CNY 52,273,071.26, reflecting a decrease of 33.4%[58]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥562,814,677.31, a decrease of 11.90% compared to ¥638,864,985.73 in the same period last year[16]. - The net profit attributable to shareholders of the listed company was ¥31,469,903.43, down 11.22% from ¥35,445,971.50 in the previous year[16]. - The net profit after deducting non-recurring gains and losses was ¥24,710,883.00, representing a decline of 17.93% compared to ¥30,109,607.17 in the same period last year[16]. - Basic earnings per share decreased by 35.90% to ¥0.1748 from ¥0.2727 in the same period last year[16]. - Operating profit for the period was CNY 31.40 million, down 15.25% year-on-year, while net profit was CNY 30.04 million, a decline of 12.83%[49]. - The company reported a total comprehensive income of CNY 33,919,679.43, slightly down from CNY 34,581,805.75 in the first half of 2019[149]. - The company reported a decrease in sales revenue from services, with cash received from sales dropping to ¥435,168,811.48 from ¥667,422,015.40 year-over-year, indicating a decline of approximately 34.7%[159]. - The total comprehensive income for the first half of 2020 was CNY 1,031.93 million, a decrease of 0.92% compared to the previous period[169]. Cash Flow and Liquidity - The net cash flow from operating activities significantly increased to ¥60,470,165.47, a rise of 4,408.72% from ¥1,341,183.28 in the previous year[16]. - Total cash inflow from operating activities was ¥679,860,918.02, while cash outflow was ¥619,390,752.55, resulting in a net cash inflow of ¥60,470,165.47[156]. - The ending cash and cash equivalents balance was ¥234,160,522.15, down from ¥243,704,015.76 at the beginning of the period, reflecting a decrease of approximately 6.4%[157]. - Cash outflow for purchasing goods and services was ¥462,473,705.60, down from ¥535,196,817.27, indicating a reduction of approximately 13.6%[156]. - The company raised ¥115,370,000.00 through borrowings in the first half of 2020, compared to ¥71,400,000.00 in the same period of 2019, marking an increase of approximately 61.6%[157]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,584,152,411.29, an increase of 2.89% compared to the previous year's end[16]. - Total liabilities amounted to CNY 779,148,617.74, an increase from CNY 759,543,817.63, which is a rise of about 2.4%[142]. - The company's equity attributable to shareholders increased to CNY 806,449,064.39 from CNY 780,392,687.16, marking a growth of approximately 3.3%[143]. - Current liabilities rose to CNY 687,719,499.72, compared to CNY 638,614,349.39, indicating an increase of about 7.5%[142]. - The company's cash and cash equivalents stood at CNY 224,899,929.28, slightly up from CNY 221,014,388.43, reflecting a growth of around 1.3%[145]. Research and Development - Research and development expenses increased by 15.17% to CNY 28.74 million, reflecting the company's commitment to innovation[52]. - The company's research and development capabilities are evidenced by 28 invention patents, 113 utility model patents, and 35 design patents[41]. - The company emphasizes technology and product innovation as the main drivers for sustained revenue growth, with a professional team dedicated to R&D, production, sales, and management[28]. - The company is focusing on research and development of new technologies to improve product efficiency and competitiveness in the market[174]. Market and Industry Trends - The company aims to leverage the growing demand for automotive electronic components, particularly in the context of the increasing adoption of new energy vehicles[31]. - The global sales of new energy vehicles increased from 546,000 units in 2015 to 2.21 million units in 2019, with a compound annual growth rate of 41.8%[33]. - The Chinese government's "New Energy Vehicle Industry Development Plan (2021-2035)" aims for new energy vehicle sales to account for approximately 25% of total vehicle sales by 2025[32]. - The 5G network investment scale is expected to be 2-3 times that of 4G, with total investment from 2020 to 2025 projected to be between CNY 0.9 trillion and CNY 1.5 trillion[36]. Corporate Governance and Shareholder Matters - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company has committed to not transferring or managing shares held by major shareholders for 36 months post-IPO, ensuring stability in shareholding[80]. - The controlling shareholder will increase the number of shares held to stabilize the stock price if certain conditions are met, including a continuous drop in stock price below the audited net asset value per share[81]. - The company aims to protect the rights of all shareholders through these commitments[81]. Risks and Challenges - The company faces risks from macroeconomic changes, market competition, and fluctuations in raw material prices, which could adversely affect financial performance[72][73]. - The company faces significant risks from exchange rate fluctuations, which can impact export pricing competitiveness and lead to exchange losses affecting performance[74]. - Rising labor costs are a concern, with the company needing to increase investment in technology and R&D to enhance product competitiveness and stabilize production costs[75]. Environmental and Social Responsibility - The company has maintained complete and operational environmental protection facilities, effectively controlling pollutant emissions within regulatory limits[108]. - The company has signed contracts with qualified firms for the disposal of hazardous waste generated during operations[107]. - The company has invested in environmental protection measures, including new equipment and technology upgrades, to enhance waste management[107]. Miscellaneous - There are no major litigation or arbitration matters during the reporting period[86]. - The integrity status of the company and its controlling shareholders remained good, with no significant debts overdue[91]. - The company has not undergone any changes in its controlling shareholder or actual controller during the reporting period[124].

深圳市京泉华科技股份有限公司 2020 年第一季度报告 2020 年 4 月 深圳市京泉华科技股份有限公司 2020 年第一季度报告全文 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。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人张立品、主管会计工作负责人鞠万金及会计机构负责人(会计主 管人员)居东方声明：保证季度报告中财务报表的真实、准确、完整。 2 深圳市京泉华科技股份有限公司 2020 年第一季度报告全文 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 | 上年同期 | | 本报告期比上年同 | | --- | --- | --- | --- | --- | | | | | | 期增减 | | | | 调整前 | 调整后 | 调整后 | | 营业收入（元） | 228,116,706.68 | 308,981,891.90 | 308,981,891.90 | -26.17% | | 归属于上 ...

Financial Performance - The company's operating revenue for 2019 was ¥1,332,821,585.18, representing a 14.28% increase compared to ¥1,166,308,189.86 in 2018[16] - The net profit attributable to shareholders for 2019 was ¥52,064,135.20, a decrease of 34.70% from ¥79,735,470.46 in 2018[16] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥51,413,079.98, down 18.26% from ¥62,897,144.66 in 2018[16] - Basic earnings per share for 2019 were ¥0.29, a decrease of 34.09% from ¥0.80 in 2018[16] - The diluted earnings per share for 2019 was CNY 0.29, a decrease of 34.09% compared to CNY 0.44 in 2018[18] - The weighted average return on equity was 6.86%, down 4.54% from 11.40% in 2018[18] - Total assets increased by 5.80% to CNY 1,539,627,931.75 at the end of 2019, compared to CNY 1,455,204,076.60 at the end of 2018[18] - Net assets attributable to shareholders rose by 5.90% to CNY 780,392,687.16 at the end of 2019, up from CNY 736,912,401.74 in 2018[18] - The company reported total operating income of CNY 1,312,821,584.18 for 2019, with a quarterly breakdown showing Q4 revenue at CNY 349,869,768.48[22] - The net profit attributable to shareholders for Q4 2019 was CNY 3,560,990.57, a significant decline from Q2's CNY 27,780,465.51[22] - The company recorded a net cash flow from operating activities of CNY 15,862,115.69 in Q4 2019, following a negative cash flow in Q2[22] - Non-recurring gains and losses totaled CNY 651,055.22 in 2019, a significant decrease from CNY 16,838,325.80 in 2018[24] - The company experienced increased foreign exchange losses due to significant overseas sales and fluctuations in the RMB exchange rate[51] Dividend Distribution - The company plans to distribute a cash dividend of ¥0.5 per 10 shares, based on a total of 180,000,000 shares[6] - The company proposed a cash dividend of CNY 0.5 per 10 shares, totaling CNY 9,000,000.00, which represents 100% of the profit distribution[123] - The cash dividend distribution plan was approved by the board and is pending approval from the annual shareholders' meeting[123] - In 2018, the company distributed a cash dividend of 0.75 yuan per 10 shares, totaling 9,000,000 yuan, and increased its total share capital to 180,000,000 shares[117] Business Operations - The company has no changes in its main business since its listing[17] - There were no changes in the controlling shareholders during the reporting period[17] - The company has a total of five wholly-owned subsidiaries and two holding subsidiaries[10] - The company focuses on the electronic components industry, specializing in magnetic components, power supplies, and transformers[26] - The company has established long-term stable cooperation with several Fortune 500 companies, ensuring a steady growth space[45] - The company has implemented a quality management system that significantly enhances product quality across all operational stages[45] - The company has focused on technological innovation, developing products based on magnetic components and power supplies, which drives market demand[52] - The company has invested in building a first-class automotive magnetic device development center to replace imports and support domestic manufacturing[44] Market Trends and Projections - The global sales of new energy vehicles increased from 546,000 units in 2015 to 2.21 million units in 2019, with a compound annual growth rate (CAGR) of 41.8%[35] - By 2025, new energy vehicle sales in China are expected to reach 7 million units, with a CAGR of 28.47%[35] - The 5G network investment scale is projected to be 0.9 to 1.5 trillion yuan from 2020 to 2025, with the number of new base stations reaching 800,000 annually in 2020 and 2021[38] - The market space for 5G base station power supply is expected to reach 31.5 billion yuan based on a construction scale of 4.5 million stations[39] Research and Development - The company plans to increase R&D investment to enhance core competitiveness and expand production capacity in the foreseeable future[53] - R&D expenses for 2019 were ¥57,046,766.56, a decrease of 7.25% compared to the previous year[67] - The company's R&D investment amounted to ¥57,046,766.56 in 2019, a decrease of 7.25% compared to ¥61,506,625.54 in 2018, with R&D expenditure accounting for 4.28% of operating revenue[70] - The company is focusing on developing automotive magnetic components to meet the increasing demands of the electric vehicle market[68] Risk Management - The company faces risks from fluctuations in major raw material prices, particularly copper and silicon steel, which significantly impact production costs and gross margins[109] - The company has identified risks related to macroeconomic changes, including the impact of the COVID-19 pandemic on supply chains and operational performance[107] - The company is expanding its overseas business, targeting markets in Southeast Asia, Europe, and North America, but faces uncertainties related to local political and economic conditions[113] - The company has implemented measures to mitigate foreign exchange risks, including accelerating accounts receivable collection and adjusting export pricing[110] - The company acknowledges the risk of rising labor costs due to increasing national income levels, which may affect future profit margins if revenue growth slows[112] - The company emphasizes the importance of maintaining competitive advantages through continuous R&D and technological advancements to counter market risks[108] Corporate Governance - The company has committed to not engaging in any business that competes with its own operations, ensuring no direct or indirect investments in similar businesses[126] - The company will not utilize its investment relationships to harm the interests of its shareholders[126] - The company has pledged to vote against any resolutions that may lead to investments in businesses similar to its own in future shareholder meetings[126] - The company confirmed that all commitments made are independently enforceable, and any invalid or terminated commitment will not affect the validity of others[127] - The company will strictly adhere to the regulations regarding related party transactions as outlined in its articles of association, ensuring fair and reasonable pricing based on market standards[127] Share Repurchase and Stock Price Stabilization - The company plans to use at least 30% of its after-tax salary from the previous year for share repurchases, with a cap of 60% within a single fiscal year[127] - The company will announce specific plans for share repurchases, including the number of shares, price range, and total amount, within two trading days of receiving a notification[127] - The company has established a protocol for increasing shareholdings, which includes notifying the company of any plans within two trading days after receiving a notification[127] - The company committed to stabilize its stock price if the closing price is below the latest audited net asset value per share for 20 consecutive trading days[128] - The company plans to repurchase shares using its own funds, with the repurchase price not exceeding the latest audited net asset value per share[129] Compliance and Reporting - The company has made adjustments to its financial reporting format in accordance with the Ministry of Finance's notifications for 2019[133] - The company has adopted new accounting policies effective January 1, 2019, including the implementation of the new financial instrument standards[134] - The company reported no significant accounting errors requiring retrospective restatement during the reporting period[137] - The company has maintained a good integrity status, with no significant debts or court judgments unmet during the reporting period[142] - The company has not faced any major litigation or arbitration matters during the reporting period[140] - The company has not experienced any penalties or rectification situations during the reporting period[141] - The company has not encountered any bankruptcy reorganization matters during the reporting period[139] Environmental and Social Responsibility - The company has integrated environmental protection into its sustainable development strategy, adhering to ISO14001 standards and focusing on energy conservation and emission reduction[177] - The company aims to enhance its corporate social responsibility management system in 2020, addressing gaps compared to industry leaders[178]

Financial Performance - Net profit attributable to shareholders decreased by 59.86% to CNY 13,057,173.13 for the current period[9] - Operating revenue rose by 6.41% to CNY 344,086,830.97 for the current period[9] - Basic earnings per share dropped by 73.26% to CNY 0.0725[9] - The weighted average return on net assets was 1.70%, down by 2.91% compared to the previous year[9] - Net profit for the current period was ¥12,647,538.34, a decrease of 60.6% from ¥32,081,423.93 in the previous period[38] - Operating profit for the current period was ¥13,456,524.25, down 60.2% from ¥33,754,925.84 in the previous period[38] - Net profit for the current period was ¥47,104,325.27, a decrease of 24.7% compared to ¥62,593,364.77 in the previous period[46] - Total profit for the current period was ¥50,692,382.17, down 28.2% from ¥70,524,790.67 in the previous period[46] - Comprehensive income totalled ¥48,058,650.41, a decrease of 26.6% from ¥65,393,529.40 in the previous period[46] Assets and Liabilities - Total assets increased by 4.55% to CNY 1,521,404,930.95 compared to the end of the previous year[9] - The company's total assets decreased from ¥1,072,030,109.05 to ¥1,020,293,990.20, indicating a decline in overall asset value[27] - Total assets increased to CNY 1,664,756,245.69, up from CNY 1,603,980,792.85 year-over-year, representing a growth of approximately 3.5%[35] - Non-current assets totaled CNY 525,305,889.01, an increase from CNY 405,206,857.35, reflecting a growth of about 29.6%[33] - Current liabilities rose to CNY 809,908,424.11, compared to CNY 805,958,708.64, indicating a slight increase of 0.2%[34] - The total liabilities increased to CNY 944,374,250.82 from CNY 926,871,869.24, reflecting a growth of approximately 1.6%[34] Cash Flow - Net cash flow from operating activities surged by 1,076.96% to CNY 45,761,228.65[9] - The net cash flow from operating activities for Q3 2019 was ¥47,102,411.93, a significant improvement compared to a net outflow of ¥63,678,814.44 in the same period last year[53] - Total cash inflow from operating activities reached ¥1,070,575,752.46, up from ¥884,281,979.95 year-over-year, indicating a growth of approximately 21%[53] - The company reported a net cash outflow from investing activities of ¥111,613,575.55, contrasting with a net inflow of ¥6,715,085.62 in the previous year[54] - The net cash flow from financing activities was ¥75,354,081.98, compared to ¥48,977,495.01 in the same quarter last year, showing an increase of approximately 54%[54] Shareholder Information - The company reported a total of 24,110 shareholders at the end of the reporting period[13] - The top shareholder, Zhang Lipin, holds 26.57% of the shares, totaling 47,833,065 shares[13] Government Subsidies and Other Income - The company received government subsidies amounting to CNY 7,366,869.77 during the reporting period[10] - Other income surged by 497.96% to ¥7,296,940.92, mainly due to increased government subsidies related to daily operations[17] - Other income increased to ¥1,902,643.90 from ¥346,761.44 in the previous period, indicating a significant growth in non-operating income[36] Investment and Expenses - The company's debt investment increased by 71.20% to ¥2,477,526.94, primarily due to the purchase of Philippine government bonds during the reporting period[17] - Fixed assets surged by 583.09% to ¥368,006,963.47, mainly attributed to investments in the Jingquan Technology Industrial Park and the transfer of construction projects to fixed assets[17] - Research and development expenses remained stable at ¥14,236,325.90, slightly down from ¥14,328,884.79 in the previous period[36] - Research and development expenses were ¥39,194,284.74, slightly down from ¥40,398,686.71 in the previous period[45] Cash and Equivalents - The cash and cash equivalents decreased to CNY 208,371,066.85 from CNY 231,137,269.41, a decline of approximately 9.8%[32] - The ending balance of cash and cash equivalents was ¥217,298,476.88, up from ¥118,854,948.53 at the end of the previous year[54]