Financial Performance - The company's operating revenue for the first half of 2023 was ¥101,124,929.31, a decrease of 8.01% compared to ¥109,931,316.23 in the same period last year[21]. - The net profit attributable to shareholders was a loss of ¥2,216,839.07, representing a decline of 517.35% from a profit of ¥531,164.67 in the previous year[21]. - The net cash flow from operating activities was negative at ¥1,266,654.06, a significant drop of 104.23% compared to ¥29,972,684.88 in the same period last year[21]. - Basic and diluted earnings per share were both -¥0.0151, down 519.44% from ¥0.0036 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was a loss of ¥3,761,955.41, a decline of 1,334.64% from a profit of ¥304,700.24 in the previous year[21]. - The total comprehensive income for the first half of 2023 was a loss of CNY 2,354,192.01, compared to a profit of CNY 390,107.22 in the same period of 2022[119]. - The company's operating profit for the first half of 2023 was a loss of CNY 2,216,361.36, compared to a profit of CNY 634,134.82 in the same period of 2022[118]. - The total comprehensive income for the current period decreased by CNY 1,573,182.71, indicating a decline in profitability[145]. Assets and Liabilities - Total assets at the end of the reporting period were ¥445,208,364.23, a decrease of 4.71% from ¥467,232,254.25 at the end of the previous year[21]. - The company reported a total net assets attributable to shareholders of ¥396,049,822.91, a slight decrease of 0.59% from ¥398,404,014.92 at the end of the previous year[21]. - Total liabilities decreased from CNY 68.83 billion to CNY 49.16 billion, representing a decline of approximately 28.8%[112]. - The total equity attributable to the parent company is 398,404,014 yuan for the current period[128]. - The total equity at the end of the reporting period is CNY 344,129,181.67, with a capital reserve of CNY 113,359,977.52 and retained earnings of CNY 87,568,204.65[146]. Revenue Breakdown - The household theater series generated ¥32,426,635.58 in revenue, accounting for 32.07% of total revenue, showing a growth of 3.14% year-on-year[37]. - The professional audio series revenue increased by 5.35% to ¥23,932,088.87, representing 23.67% of total revenue[37]. - The public broadcasting series saw a revenue increase of 9.40% to ¥22,504,594.48, making up 22.25% of total revenue[37]. - The multimedia series experienced a significant decline of 57.45%, with revenue dropping to ¥8,517,390.82, which accounted for 8.42% of total revenue[37]. - The company's domestic sales accounted for 96.57% of total revenue, totaling ¥97,655,929.79, while export sales increased by 31.89% to ¥3,468,999.52[37]. Cash Flow and Investments - The company reported a significant increase in investment cash flow, rising by 496.39% to ¥16,949,052.02, primarily due to increased redemption of financial products[35]. - The net cash flow from investment activities was positive at 16,949,052.02 RMB for the first half of 2023, compared to a negative -4,275,799.41 RMB in the first half of 2022, showing improved investment performance[124]. - Cash and cash equivalents at the end of the first half of 2023 stood at 71,480,971.36 RMB, down from 112,061,196.96 RMB at the end of the first half of 2022, indicating a decrease in liquidity[124]. - The company experienced a cash outflow of 19,592,405.13 RMB related to financing activities in the first half of 2023, with no cash inflow from financing activities reported[124]. Risks and Challenges - The company faces risks including new product and technology substitution, market volatility, and significant inventory write-downs[4]. - The risk of significant inventory write-downs exists due to high inventory levels and potential market changes[55]. - Future economic fluctuations may adversely affect consumer demand in the electronic audio industry[56]. - The company faces intense competition from tech giants entering the smart audio market, impacting traditional product sales[55]. Shareholder Information - The total number of shares before the change was 149,611,680, with a decrease of 408,600 limited shares, resulting in a new total of 149,203,080 shares[93]. - The number of shareholders holding more than 5% of ordinary shares was reported at 21,278 at the end of the reporting period[97]. - The company reported a significant shareholding structure, with HONGBO YAO holding 61.26% of the total shares, amounting to 91,657,720 shares[98]. - The company has not undergone any changes in its controlling shareholder or actual controller during the reporting period[101]. Future Outlook - The company plans to focus on new product development and market expansion strategies in the upcoming quarters[111]. - Future outlook includes plans for market expansion and potential mergers and acquisitions to drive growth[129]. - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[137]. Accounting and Financial Reporting - The financial report for the first half of 2023 has not been audited, indicating a preliminary assessment of the financial position[108]. - The company’s financial statements are prepared in yuan, with the unit of measurement specified[109]. - The company’s accounting policies comply with the requirements of the enterprise accounting standards, ensuring accurate financial reporting[153].

Financial Performance - The company's revenue for Q1 2023 was ¥45,424,536.54, a decrease of 11.54% compared to ¥51,352,581.97 in the same period last year[5] - The net profit attributable to shareholders was a loss of ¥1,086,576.24, representing a decline of 317.01% from a profit of ¥500,697.49 in the previous year[5] - The net cash flow from operating activities was negative at ¥4,687,603.60, a decrease of 195.04% compared to a positive cash flow of ¥4,932,377.98 in the same period last year[5] - Total operating revenue for Q1 2023 was CNY 45,424,536.54, a decrease of 11.8% compared to CNY 51,352,581.97 in Q1 2022[16] - The net profit for Q1 2023 was a loss of CNY 1,086,576.24, compared to a profit of CNY 500,697.49 in Q1 2022, indicating a significant decline in profitability[17] - The company reported a total comprehensive income of CNY -1,037,779.16 for Q1 2023, down from CNY 512,831.62 in Q1 2022[17] Assets and Liabilities - The total assets at the end of the reporting period were ¥454,592,236.14, down 2.71% from ¥467,232,254.25 at the end of the previous year[5] - As of March 31, 2023, the total assets of Guangzhou Huawai Acoustic Technology Co., Ltd. amounted to RMB 454,592,236.14, a decrease from RMB 467,232,254.25 at the beginning of the year, representing a decline of approximately 2.73%[13][14] - The company's current assets totaled RMB 299,310,010.75, down from RMB 309,859,627.78 at the beginning of the year, indicating a decrease of about 3.93%[13][14] - Total liabilities decreased to RMB 57,226,000.38 from RMB 68,828,239.33, a reduction of approximately 16.83%[14] - The total liabilities and equity amounted to CNY 454,592,236.14 as of Q1 2023, down from CNY 467,232,254.25 in the previous year[17] Cash Flow - The cash flow from operating activities showed a net outflow of CNY 4,687,603.60 in Q1 2023, contrasting with a net inflow of CNY 4,932,377.98 in the same period last year[18] - The net cash flow from financing activities was -11,235,826.60 CNY, indicating a cash outflow[19] - The net increase in cash and cash equivalents for the quarter was -17,521,228.44 CNY[19] - The ending balance of cash and cash equivalents was 38,175,595.90 CNY, down from 55,696,824.34 CNY at the beginning of the period[19] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 14,551, with the largest shareholder holding 61.58% of the shares[10] Income and Expenses - Total operating costs for Q1 2023 were CNY 47,316,084.67, slightly down from CNY 51,296,576.74 in the previous year[16] - Research and development expenses increased to CNY 4,976,617.14 in Q1 2023, up from CNY 4,576,537.30 in Q1 2022, reflecting ongoing investment in innovation[16] - The company recorded other income of CNY 1,100,857.66 in Q1 2023, a significant increase from CNY 150,363.64 in the previous year[16] Investment and Impairment - The company reported a significant increase in investment income of 244.03%, amounting to ¥431,436.42, due to increased investment in financial products[9] - The company recorded a substantial increase in asset impairment losses, totaling ¥1,008,101.64, primarily due to inventory write-downs[9] Management and Strategy - The company is focusing on enhancing its product development and market expansion strategies to drive future growth[12] - The management highlighted ongoing efforts in research and development of new technologies to maintain competitive advantage in the market[12] Audit Information - The company did not undergo an audit for the first quarter report[20]

Financial Performance - The company's operating revenue for 2022 was ¥226,282,589.36, a decrease of 21.83% compared to ¥289,474,305.87 in 2021[21] - The net profit attributable to shareholders for 2022 was -¥14,626,728.16, representing a decline of 156.36% from ¥25,954,602.05 in 2021[21] - The net profit after deducting non-recurring gains and losses was -¥16,814,862.46, down 171.66% from ¥23,463,289.86 in the previous year[21] - Basic and diluted earnings per share for 2022 were both -¥0.11, a decrease of 164.71% from ¥0.17 in 2021[21] - The company's total revenue for 2022 was approximately ¥226.28 million, a decrease of 21.83% compared to ¥289.47 million in 2021[42] - The multimedia series revenue dropped by 39.74% to ¥30.40 million, while the home theater series revenue decreased by 13.65% to ¥68.23 million[42] - The company's gross profit margin for the electronic audio industry was 31.39%, down by 5.59% year-on-year[43] - The production volume of electronic audio products decreased by 37.36% to 541,676 units, while sales volume fell by 16.86% to 647,383 units[45] Cash Flow and Assets - The net cash flow from operating activities improved to ¥20,265,223.03, a significant increase of 206.46% from -¥19,036,178.74 in 2021[21] - The net cash flow from investment activities decreased by 249.01% to -¥50,902,888.35, mainly due to increased investments in financial products[56] - Total assets at the end of 2022 were ¥467,232,254.25, a decrease of 3.47% from ¥484,013,719.61 at the end of 2021[21] - The company's inventory decreased by 9.02% from ¥154,198,211.09 at the beginning of the year to ¥106,717,938.62 at year-end, attributed to the provision for inventory impairment[61] - The company's financial assets decreased by 19.6% from the initial value of ¥2,011,657.50 to ¥1,617,033.50 due to a loss of ¥394,624.00 during the reporting period[64] Business Operations and Strategy - The company has established itself as a leading brand in the audio industry, consistently ranking among the top three in brand awareness according to ZDC Internet Consumer Research Center[32] - The company focuses on high-end audio products and has developed a complete industrial chain from speaker units to various audio products, enhancing its competitive edge[33] - The main business includes multimedia audio, home theater systems, professional audio, automotive audio, public broadcasting systems, and headphones, catering to diverse market needs[34] - The sales model primarily relies on distribution channels across the country, with a significant portion of revenue generated through dealer sales[35] - The company is committed to continuous innovation and improving product competitiveness to ensure stable growth in the future[32] Research and Development - The company has over 100 R&D personnel and a robust management system to support new product development[40] - R&D investment amounted to ¥18,881,752.81 in 2022, a decrease of 2.32% compared to ¥19,330,729.41 in 2021, while the R&D investment as a percentage of operating revenue increased from 6.68% to 8.34%[54] - The company is focusing on new product development, including the CX 100 multimedia speaker and M200 active multimedia speaker, to enhance brand and economic benefits[52] - The company is focusing on reducing reliance on external technology and improving cost efficiency through in-house technology development[53] Market Challenges and Risks - The company faces uncertainty regarding its ability to continue as a going concern, as indicated by the negative net profit figures over the last three years[21] - The audio industry is experiencing rapid growth driven by technological advancements and increasing consumer demand, despite facing intense competition and declining profit margins[31] - The global trend towards "smart" audio products poses a risk of obsolescence for traditional audio products, necessitating timely responses in product technology upgrades and marketing strategies[81] - The company recognizes the risk of talent loss due to intensified competition for skilled personnel in the audio equipment sector[81] Governance and Shareholder Matters - The company has established a complete governance structure and complies with relevant laws and regulations, ensuring independent operations from its controlling shareholders[90] - The company maintains independent financial management and decision-making, with no shared bank accounts with its shareholders[91] - The annual shareholders meeting on May 20, 2022, had an investor participation rate of 66.72%[92] - The company did not propose any cash dividend distribution plan during the reporting period, despite having a positive profit available for distribution to shareholders[125] Future Outlook - The company has set a revenue guidance for 2023, projecting an increase of 10% to 1.32 billion RMB[106] - Market expansion plans include entering two new international markets by the end of 2023, aiming for a 10% increase in overseas sales[106] - The management team emphasized a focus on sustainability, aiming to reduce production waste by 30% over the next two years[106] - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 200 million RMB earmarked for potential targets[106]

广州惠威电声科技股份有限公司 2022 年第三季度报告 广州惠威电声科技股份有限公司 2022 年第三季度报告 证券代码：002888 证券简称：惠威科技 公告编号：2022-042 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 3.第三季度报告是否经过审计 □是 否 1 广州惠威电声科技股份有限公司 2022 年第三季度报告 一、主要财务数据 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 | 年初至报告期末 | 年初至报告期末比上 | | --- | --- | --- | --- | --- | | | | 增减 | | 年同期增减 | | 营业收入（元） | 58,617,999.33 | -13.00% | 168,549,315 ...

Financial Performance - The company's operating revenue for the first half of 2022 was ¥109,931,316.23, a decrease of 24.00% compared to ¥144,641,123.86 in the same period last year[21]. - The net profit attributable to shareholders was ¥531,164.67, representing a significant decline of 96.87% from ¥16,997,147.32 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was ¥304,700.24, down 98.08% from ¥15,910,166.00 year-on-year[21]. - Basic and diluted earnings per share were both ¥0.0036, down 96.83% from ¥0.1136 in the previous year[21]. - The total profit for the first half of 2022 was CNY 615,032.29, down 96.9% from CNY 20,218,693.81 in the first half of 2021[122]. - The company reported a net loss for the first half of 2022, reflecting ongoing challenges in the market[121]. - The total comprehensive income for the current period is CNY 390,107.22, which is a decrease compared to the previous period's total comprehensive income[138]. - The company reported a net loss of RMB 9,974,112 for the period[156]. Cash Flow and Assets - The net cash flow from operating activities was ¥29,972,684.88, a substantial increase of 1,852.15% compared to -¥1,710,625.95 in the same period last year[21]. - Cash and cash equivalents at the end of the reporting period were approximately ¥112.74 million, representing 24.18% of total assets[43]. - The company's accounts receivable decreased from CNY 12,822,194.54 to CNY 10,194,710.54, a decline of about 20.4%[113]. - The total cash and cash equivalents at the end of the period increased to ¥112,061,196.96, compared to ¥106,213,878.50 at the end of the first half of 2021[130]. - The cash paid for investments was ¥85,850,000.00, a decrease from ¥207,900,000.00 in the first half of 2021[130]. Revenue Breakdown - The company's multimedia audio series generated ¥20,016,225.82, accounting for 18.21% of total revenue, down 27.56% from the previous year[37]. - The home theater series revenue was ¥31,439,690.33, representing 28.60% of total revenue, a decrease of 20.79% year-over-year[37]. - The professional audio series revenue decreased by 21.98% to ¥22,716,964.54, making up 20.66% of total revenue[37]. - Domestic sales accounted for 97.61% of total revenue at ¥107,301,031.13, down 23.56% from the previous year[37]. Research and Development - Research and development expenses increased by 7.97% to ¥9,498,293.40 from ¥8,797,547.42 in the previous year[36]. - The company continues to focus on innovation and quality in audio technology, with a strong emphasis on R&D capabilities and a dedicated team of over a hundred researchers[34]. Risks and Challenges - The management highlighted risks including new product and technology substitution risks, market volatility risks, and talent retention risks[4]. - The company emphasizes the importance of investors understanding the risks associated with forward-looking statements regarding future plans and operational goals[4]. - The risk of significant inventory write-downs exists if there are major technological innovations or shifts in customer demand in the audio industry, which could adversely affect the company's financial performance[58]. - The company faces risks related to market fluctuations, as consumer demand for audio products is heavily influenced by macroeconomic conditions[59]. - Talent retention is a concern due to intensified competition for skilled personnel in the audio equipment sector, which could impact production and operations if not addressed[59]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[5]. - The total number of shares is 149,611,680, with no changes in the shareholding structure during the reporting period[97]. - The largest shareholder, Hongbo Yao, holds 62.78% of the shares, totaling 93,923,530 shares[99]. Financial Management - The company has a total of 3,000 million in entrusted financial management, with no overdue amounts or impairments reported[90]. - There are no overdue or unrecovered amounts in entrusted financial management, indicating a stable financial position[90]. - The company has not engaged in any major related-party transactions or significant acquisitions during the reporting period[79]. Accounting Policies - The company adheres to the enterprise accounting standards, ensuring the financial statements reflect a true and complete picture of its financial status[164]. - The company’s accounting policies are based on the accrual basis of accounting, with historical cost as the measurement basis for most assets[161]. - The company consolidates financial statements according to the relevant provisions of the Accounting Standards for Business Enterprises, ensuring all significant internal transactions are offset[172].

广州惠威电声科技股份有限公司 2022 年第一季度报告全文 证券代码：002888 证券简称：惠威科技 公告编号：2022-017 广州惠威电声科技股份有限公司 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.第一季度报告是否经过审计 □ 是 √ 否 2022 年第一季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、 误导性陈述或重大遗漏，并承担个别和连带的法律责任。 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 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 51,352,581.97 | 62,138,140.51 | -17.36% | | 归属于上市公司股东的净利润（元） | 500,697.49 | 8,044,0 ...

Financial Performance - The company's operating revenue for 2021 was ¥289,474,305.87, representing a 9.00% increase compared to ¥265,579,263.85 in 2020[20] - The net profit attributable to shareholders decreased by 15.27% to ¥25,954,602.05 from ¥30,633,509.02 in the previous year[20] - Basic earnings per share fell by 32.00% to ¥0.17 from ¥0.25 in 2020[20] - The weighted average return on equity was 6.02%, a decrease from 7.25% in the previous year[20] - The company reported a decrease in net profit after deducting non-recurring gains and losses, with a net profit of ¥23,463,289.86, a slight increase of 1.21% from ¥23,181,886.73 in 2020[20] - The company's total revenue for 2021 reached ¥289,474,305.87, representing a 9.00% increase compared to ¥265,579,263.85 in 2020[42] - The revenue from the home theater series increased by 23.28% to ¥79,011,176.89, while the multimedia series saw a decline of 23.48% to ¥50,454,483.27[42] - The company achieved a gross margin of 36.97% in the electronic audio industry, slightly down by 0.28% from the previous year[44] - Online sales grew significantly by 60.66%, contributing ¥80,410,688.29, while offline sales decreased by 3.00% to ¥209,063,617.58[42] - The company sold 778,703 units in 2021, a 14.03% increase from 682,902 units in 2020, with production rising by 28.28% to 864,807 units[45] Cash Flow and Assets - The net cash flow from operating activities was negative at -¥19,036,178.74, a decline of 156.45% compared to ¥33,721,228.98 in 2020[20] - The net cash flow from operating activities was negative in Q1 at -¥5.17 million and Q3 at -¥22.97 million, but positive in Q2 at ¥3.46 million and Q4 at ¥5.64 million, highlighting cash flow volatility[24] - Operating cash inflow totaled ¥359,614,442.39, a 16.89% increase, while cash outflow rose by 38.23% to ¥378,650,621.13, resulting in a net cash flow of -¥19,036,178.74[55] - As of the end of 2021, cash and cash equivalents amounted to ¥106,483,102.08, representing 22.00% of total assets, a decrease of 0.52% compared to the beginning of the year[61] - Inventory increased significantly to ¥154,198,211.09, accounting for 31.86% of total assets, up 9.02% from the beginning of the year[61] - Fixed assets rose to ¥150,639,210.27, making up 31.12% of total assets, an increase of 9.60% compared to the start of the year[61] Market and Industry Trends - The audio industry is experiencing stable growth despite challenges from the pandemic and international trade tensions, with increasing demand driven by advancements in technology such as wireless transmission and active noise cancellation[30] - The overall audio market is expanding, but increased competition is leading to declining profit margins, posing challenges for the company's growth[35] - The global trend towards "smart" audio products has led to explosive growth in smart speaker shipments, increasing competition for traditional audio manufacturers[88] - The company aims to ensure effective use of raised funds while adapting to market changes and technological advancements[73] Research and Development - The company focuses on high-end audio products and has a complete industrial chain from research and development to sales, ensuring a competitive edge in the market[32] - The company is committed to continuous innovation and product development to enhance market competitiveness and operational capabilities[35] - The company has over a hundred R&D personnel, focusing on innovative sound quality technology and maintaining a competitive edge in the market[39] - Research and development investments have increased by 10%, totaling 100 million RMB, to support new technology initiatives[108] Governance and Management - The company has established a robust internal control system and governance structure in compliance with relevant laws and regulations[91] - The company operates independently from its controlling shareholders, maintaining clear asset ownership and financial independence[96] - The company has implemented a cash dividend policy to enhance shareholder value[139] - The remuneration structure is designed to align with industry standards and promote long-term company development[110] Shareholder Information - The total number of shares held by the chairman increased from 78,269,616 to 93,923,539, reflecting an increase of 19.9%[99] - The total number of shares held by the director increased from 4,419,000 to 5,302,800, reflecting an increase of 19.9%[99] - The largest shareholder, Hongbo Yao, holds 62.78% of the shares, totaling 93,923,539 shares, with a decrease of 15,653,923 shares during the reporting period[178] - The company has 62,016,462 restricted shares, which represent 49.74% of the total shares[172] Risks and Challenges - The company highlighted potential risks in its future development outlook, which investors should be aware of[5] - The company faces risks from market fluctuations, as consumer demand in the electronic sound industry is significantly influenced by macroeconomic conditions[87] - The company is at risk of talent loss due to intensified competition for skilled personnel in the audio equipment sector[89] Future Outlook - The company has set a future outlook with a revenue target of 1.5 billion RMB for the next fiscal year, indicating a projected growth rate of 25%[108] - New product launches are expected to contribute an additional 200 million RMB in revenue, with a focus on innovative audio technology[109] - The company plans to enhance its digital marketing strategies, aiming for a 15% increase in online sales channels[109]

Financial Performance - The company's revenue for Q3 2021 was CNY 67,373,545.74, representing an increase of 11.62% compared to the same period last year[4]. - The net profit attributable to shareholders for Q3 2021 was CNY 6,218,367.10, a decrease of 10.37% year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 3,336,551.39, down 39.82% compared to the same period last year[4]. - Total operating revenue for the current period reached ¥212,014,669.60, an increase of 22.4% compared to ¥173,237,177.77 in the previous period[19]. - Net profit for the current period was ¥23,215,514.42, representing a growth of 8.0% from ¥21,504,319.20 in the same period last year[20]. - Operating profit increased to ¥25,147,740.51, a rise of 6.5% compared to ¥23,620,210.90 in the previous year[20]. - The company’s total comprehensive income for the current period was ¥23,228,785.03, compared to ¥21,655,183.38 in the previous period, indicating an increase of 7.3%[21]. Cash Flow and Assets - The operating cash flow net amount for the year-to-date was CNY -24,679,808.49, a significant decrease of 10,079.26%[4]. - The company reported a significant decrease in cash flow from operating activities, primarily due to increased raw material expenditures[10]. - Cash flow from operating activities showed a net outflow of ¥24,679,808.49, contrasting with a net inflow of ¥247,310.98 in the prior period[24]. - Cash and cash equivalents decreased to ¥69,850,921.65 from ¥112,045,594.93[15]. - Cash and cash equivalents at the end of the period totaled ¥69,045,609.15, down from ¥174,122,577.41 at the end of the previous period[25]. - Total assets at the end of the reporting period were CNY 496,178,305.60, a decrease of 0.27% from the end of the previous year[4]. - As of September 30, 2021, total current assets amount to ¥327,736,921.68, a decrease from ¥378,661,187.10 at the end of 2020[16]. - The total assets as of September 30, 2021, are ¥496,178,305.60, a minor decrease from ¥497,514,556.68[18]. Liabilities and Equity - Total liabilities decreased to ¥65,909,066.58 from ¥70,229,607.07, a reduction of approximately 6.5%[17]. - The total equity attributable to shareholders at the end of the reporting period was CNY 430,269,239.02, reflecting a 0.70% increase from the previous year[4]. - The company's equity increased slightly to ¥430,269,239.02 from ¥427,284,949.61[18]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 11,912[12]. - The largest shareholder, Hongbo Yao, holds 62.78% of shares, totaling 93,923,539 shares[12]. - The number of shares held by the top ten unrestricted shareholders includes Hongbo Yao with 23,480,885 shares[13]. Expenses and Investments - The company's management expenses rose by 30.52% to CNY 24,040,382.05, mainly due to the previous year's social security fee reductions[10]. - Investment income for the year-to-date increased by 39.43% to CNY 1,604,112.48, attributed to higher investment returns[10]. - The company reported a decrease in research and development expenses to ¥14,139,825.38 from ¥15,233,753.22, reflecting a reduction of 7.2%[19]. - Investment activities generated a net cash inflow of ¥2,871,486.67, a decrease from ¥67,769,276.73 in the previous period[24]. Inventory and Current Assets - The company's inventory increased by 51.18% to CNY 171,768,244.13, primarily due to increased purchases of raw materials[9]. - Inventory increased significantly to ¥171,768,244.13 from ¥113,616,732.68, indicating a growth of 51.1%[16]. Other Information - The third quarter report of Guangzhou HiVi Acoustics Technology Co., Ltd. was not audited[26]. - The company began implementing the new leasing standards in 2021, with no applicable adjustments to prior financial statements[26]. - There were no retrospective adjustments to prior comparative data due to the new leasing standards[26].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥144,641,123.86, representing a 28.14% increase compared to ¥112,876,089.24 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was ¥16,997,147.32, up 16.69% from ¥14,566,380.11 in the previous year[19]. - The net profit after deducting non-recurring gains and losses increased by 94.98%, reaching ¥15,910,166.01 compared to ¥8,159,774.80 in the same period last year[19]. - The company's revenue for the reporting period reached ¥144,641,123.86, representing a year-on-year increase of 28.14% compared to ¥112,876,089.24 in the previous year[33]. - The operating profit for the first half of 2021 was CNY 20,298,392.44, up from CNY 15,981,137.08 in the first half of 2020, reflecting a growth of 27.5%[116]. - The company reported a significant increase in investment income to CNY 1,261,248.75 from CNY 867,318.37, reflecting a growth of 45.4%[114]. - The company achieved a total comprehensive income of CNY 17,009,592.32, an increase from CNY 14,701,739.85 in the first half of 2020[117]. Assets and Liabilities - The company's total assets as of June 30, 2021, were ¥516,064,384.08, a 3.73% increase from ¥497,514,556.68 at the end of the previous year[19]. - The company's total liabilities increased to CNY 81,743,954.15 from CNY 70,229,607.07, marking a rise of around 16.5%[108]. - The company's current assets totaled CNY 400,074,418.24, up from CNY 378,661,187.10 at the end of 2020, indicating an increase of about 5.4%[107]. - Inventory levels rose significantly to CNY 151,541,646.07, compared to CNY 113,616,732.68 at the end of 2020, reflecting an increase of approximately 33.3%[106]. - The total liabilities decreased to CNY 53,659,454.13 from CNY 55,739,462.69, indicating a reduction of approximately 3.7%[113]. Shareholder Information - The total number of shares increased from 124,676,400 to 149,611,680 due to a capital reserve conversion, with a total of 24,935,280 shares added[87]. - Hongbo Yao holds 62.78% of the shares, with a total of 93,923,539 shares, after an increase of 15,653,923 shares during the reporting period[93]. - The total number of restricted shares at the end of the period is 74,419,754, with an increase of 12,403,292 shares[90]. - The total number of shares held by directors and senior management at the end of the period is 99,226,339 shares[95]. - The company did not experience any changes in its controlling shareholder or actual controller during the reporting period[96]. Cash Flow - The net cash flow from operating activities was negative at -¥1,710,625.95, a decline of 179.86% compared to ¥2,142,112.60 in the previous year[19]. - The total cash inflow from operating activities was 170,836,619.23 CNY, compared to 133,452,126.49 CNY in the first half of 2020, representing an increase of approximately 28%[124]. - The total cash outflow from operating activities was 172,547,245.18 CNY, compared to 131,310,013.89 CNY in the same period of 2020, reflecting an increase of approximately 31.5%[124]. - The cash flow from financing activities resulted in a net outflow of -9,974,112.00 CNY, compared to -24,935,280.00 CNY in the first half of 2020[125]. Risks and Challenges - The company faces risks including new product and technology substitution, market volatility, and talent loss[5]. - The company faces risks from inventory depreciation and competition from smart audio products, which could impact future performance[49]. Research and Development - Research and development expenses decreased by 8.43% to ¥8,797,547.42, attributed to increased raw material purchases[33]. - Research and development expenses for the first half of 2021 were CNY 8,797,547.42, slightly down from CNY 9,607,422.96 in the same period of 2020[114]. Corporate Governance - The financial report was approved by the board of directors on August 30, 2021, ensuring timely disclosure of financial performance[151]. - The company did not engage in any significant related party transactions during the reporting period[69]. - There were no major lawsuits or arbitration matters during the reporting period[68]. Accounting Policies - The company prepares its financial statements based on the going concern assumption and adheres to the relevant accounting standards issued by the Ministry of Finance[152]. - The company's accounting records are maintained in Renminbi, which is also the currency used for financial reporting[158]. - The company recognizes goodwill in cases where the acquisition cost exceeds the fair value of identifiable net assets acquired in a business combination[162].

Financial Performance - The company's operating revenue for 2020 was approximately ¥265.58 million, a decrease of 3.36% compared to ¥274.82 million in 2019[16]. - Net profit attributable to shareholders for 2020 was approximately ¥30.63 million, an increase of 17.10% from ¥26.16 million in 2019[16]. - The net profit after deducting non-recurring gains and losses was approximately ¥23.18 million, up 33.64% from ¥17.35 million in 2019[16]. - Basic earnings per share for 2020 were ¥0.25, representing a 19.05% increase from ¥0.21 in 2019[16]. - Operating profit reached CNY 36.77 million, an increase of 48.74% year-on-year, while total profit amounted to CNY 36.20 million, up 26.17%[34]. - The company maintained a gross margin of 37.25% in the electronic sound industry, which improved by 0.81% year-on-year[43]. - The company reported a sales volume of 682,902 units in 2020, a decrease of 13.76% from the previous year[45]. - The multimedia series revenue decreased by 22.84% to CNY 65.94 million, while the home theater series revenue increased by 49.72% to CNY 64.09 million[41]. Cash Flow and Assets - The net cash flow from operating activities decreased by 48.84% to approximately ¥33.72 million from ¥65.92 million in 2019[16]. - The company faced a significant decrease in cash flow from operating activities, indicating potential liquidity challenges moving forward[16]. - Total assets at the end of 2020 were approximately ¥497.51 million, an increase of 5.38% from ¥472.10 million at the end of 2019[16]. - The company's total assets increased from CNY 472.10 million in 2019 to CNY 497.51 million in 2020, indicating a growth of approximately 5.4%[194]. - The company's cash and cash equivalents decreased from CNY 131.59 million in 2019 to CNY 112.05 million in 2020, representing a decline of approximately 14.9%[194]. - Total current assets rose from CNY 347.55 million in 2019 to CNY 378.66 million in 2020, reflecting an increase of about 8.95%[194]. - The company's total inventory balance was CNY 120.33 million, with a provision for inventory impairment of CNY 6.72 million, resulting in a net inventory value of CNY 113.62 million, which accounted for 22.84% of total assets[185]. Research and Development - The company has over 100 R&D personnel and a well-established R&D management system to support new product development[32]. - Research and development expenses were ¥21,273,970.35, a decrease of 2.41% from ¥21,799,347.88 in 2019, representing 8.01% of total revenue[52]. - The company plans to enhance its technology research and development efforts, focusing on trends in smart, internet, and mobile audio products[79]. - The company aims to enhance its research and development capabilities and optimize product structure to mitigate risks associated with market fluctuations and competition from smart audio products[82]. Market Position and Strategy - The company has maintained a strong brand presence, consistently ranking among the top three in audio brand awareness, with multiple products featured in the top ten audio products list[28][29]. - The company’s focus on high-end audio products has established it as a leading brand in the audio industry, recognized for quality and innovation[27]. - The overall audio industry in China has remained stable despite external challenges, with increasing demand driven by technological advancements and market trends[27]. - The company actively expanded sales channels and maintained strategic partnerships with key customers despite the challenging market environment[35]. - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share by 2025[154]. Governance and Compliance - The company aims to establish a transparent and fair governance structure to enhance management levels and internal controls[80]. - The company maintains independence from its controlling shareholders in business, personnel, assets, institutions, and finances[166]. - The company has established a complete accounting system and financial management policies, ensuring independent financial decision-making[167]. - The audit report issued a standard unqualified opinion, confirming that the financial statements fairly reflect the company's financial position[182]. - The company has not faced any penalties from government departments, indicating compliance with regulations[177]. Shareholder Information - The company plans to distribute a cash dividend of ¥0.8 per 10 shares, with a capital reserve increase of 2 shares for every 10 shares held[4]. - The company distributed a cash dividend of CNY 2 per 10 shares for the 2019 fiscal year, totaling CNY 24.94 million, and for the 2020 fiscal year, the proposed cash dividend is CNY 0.80 per 10 shares, totaling CNY 9.97 million[87][93]. - The company has a three-year dividend return plan for shareholders from 2019 to 2021, which is being implemented normally[97]. - The total number of shares under lock-up at the end of the period is 89,100,000 shares, with 62,016,462 shares released from lock-up[131]. Operational Challenges - The company reported a decrease in fixed assets from CNY 110.35 million in 2019 to CNY 107.07 million in 2020, a decline of about 2.1%[195]. - The provision for inventory impairment was identified as a key audit matter due to the significant judgment involved in assessing the net realizable value of inventory[186]. - The company has established a talent recruitment and training system to address the risk of talent loss, which is critical for sustaining its production and operational capabilities[83]. - The company is closely monitoring macroeconomic trends and industry developments to adapt its strategies and minimize operational risks[82].