广州惠威电声科技股份有限公司 2019 年第一季度报告全文 广州惠威电声科技股份有限公司 2019 年第一季度报告 2019 年 04 月 1 广州惠威电声科技股份有限公司 2019 年第一季度报告全文 第一节 重要提示 公司负责人 HONGBO YAO、主管会计工作负责人姜宁及会计机构负责人 (会计主管人员)姜宁声明：保证季度报告中财务报表的真实、准确、完整。 2 广州惠威电声科技股份有限公司 2019 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 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。 广州惠威电声科技股份有限公司 2019 年第一季度报告全文 对公司根据《公开发行证券的公司信息披露解释性公告第 1 号——非经常性损益》定义界定的非经常性损益项目，以及把《公 开发行证券的公司信息披露解释性公告第 1 号——非经常性损益》中列举的非经常性损益项目界定为经常性损益的项目， ...

Financial Performance - The company's operating revenue for 2018 was CNY 266,619,585.12, representing a 1.05% increase compared to CNY 263,855,357 in 2017[19]. - The net profit attributable to shareholders decreased by 16.02% to CNY 28,226,111.48 from CNY 33,611,727.90 in the previous year[19]. - The net profit after deducting non-recurring gains and losses fell by 52.44% to CNY 14,643,198.37 from CNY 30,789,465.91 in 2017[19]. - Basic earnings per share decreased by 28.13% to CNY 0.23 from CNY 0.47 in the previous year[19]. - The diluted earnings per share decreased by 28.13% to CNY 0.23 compared to the previous year[21]. - The weighted average return on equity was 6.44%, down by 3.84% from the previous year[21]. - Total assets increased by 0.99% to CNY 489,278,819.83 at the end of 2018[21]. - Net assets attributable to shareholders increased by 2.68% to CNY 445,250,158.48[21]. - The gross profit margin for the electronic audio industry was 36.05%, a decrease of 2.27% compared to the previous year[47]. - The cash dividend for 2018 represents 176.68% of the net profit attributable to ordinary shareholders[93]. Cash Flow and Investments - The cash flow from operating activities increased by 11.59% to CNY 13,058,374.50 compared to CNY 11,702,620.24 in 2017[19]. - Cash flow from operating activities showed a significant improvement in Q4 2018, with a net inflow of CNY 30,348,505.61[25]. - The company experienced a 63.98% decrease in cash and cash equivalents, primarily due to the reclassification of financial products[32]. - The company has entrusted financial management with a total amount of 554 million RMB, including 316 million RMB from self-owned funds and 238 million RMB from raised funds[120]. - The total amount of investment income was ¥4,045,961.65, accounting for 13.16% of total profit[62]. - The company did not engage in any fundraising activities during the reporting period, resulting in a 100% decrease in cash inflow from financing activities[58]. Sales and Market Performance - The sales revenue of home theater audio and professional audio increased by 29.00% and 32.00% respectively, driven by rising disposable income and consumption upgrades[46]. - Multimedia sales revenue decreased by 23.00%, primarily due to the slowdown in industry growth and competition from smart speakers[46]. - The company sold 878,182 units in 2018, a slight increase of 0.49% from 2017[48]. - Domestic sales accounted for 98.06% of total revenue, with a slight increase of 1.33% year-on-year[46]. - Total sales from the top five customers amounted to ¥64,818,724.72, representing 24.31% of the annual total sales[51]. Research and Development - Research and development expenses increased by 42.02% to ¥21,452,865.63, driven by the expansion into the headphone business[54]. - The number of R&D personnel grew by 23.85% to 161, accounting for 18.38% of the total workforce[55]. - The company plans to focus on "sound quality" and leverage technological innovation to enhance competitiveness in the audio industry[41]. - The company will increase its R&D investment to integrate high-quality audio features into mobile internet applications[81]. - The company intends to expand its product line by launching new headphone products and developing Bluetooth speakers and smart audio devices[82]. Competition and Risks - The company faces risks from market fluctuations, particularly due to the impact of macroeconomic conditions on consumer demand in the electronic sound industry[6]. - The company is under pressure from competition in the smart audio sector, with major tech companies entering the market, necessitating timely product upgrades and marketing strategies[7]. - The company is at risk of talent loss due to increasing competition for skilled personnel in the audio equipment sector[8]. Corporate Governance and Management - The company has established a dynamic salary system that adjusts based on regional differences, talent supply, employee turnover, industry changes, and corporate payment capabilities[169]. - The company has a governance structure that complies with relevant regulations, ensuring effective decision-making and operational coordination[173]. - The board of directors includes independent directors with diverse backgrounds, enhancing governance and oversight[155][156][157]. - The company has experienced changes in management, with several resignations due to personal reasons, indicating potential impacts on operational continuity[151]. - The management team is committed to maintaining financial transparency and accountability, as evidenced by the appointment of qualified independent directors[155]. Shareholder Information - HONGBO YAO holds 62.78% of the shares, totaling 78,269,616 shares, with 3,500,000 shares pledged[140]. - The total number of shares after the 2017 capital reserve transfer is 124,676,400 shares, with a cash dividend distribution ratio of 100%[95]. - The company has a total of 14,704 common shareholders as of the end of the reporting period[140]. - The company’s shareholder structure remained unchanged after the capital reserve conversion[138]. - The top ten unrestricted shareholders hold a total of 5,000,000 shares, with Guangzhou Yaoqi Business Consulting Co., Ltd. holding the largest share of 1,168,800 shares[142]. Internal Controls and Compliance - The internal control self-assessment report indicated that 100% of the total assets and operating income were included in the evaluation scope[196]. - The internal control verification report confirmed that the company maintained effective internal controls related to financial statement preparation as of December 31, 2018[199]. - The internal control evaluation results were rectified in a reasonable timeframe, demonstrating the company's commitment to compliance[197]. - The company has not faced any major defects that could significantly impact its reputation or market pricing[197]. Social Responsibility and Environmental Commitment - The company emphasizes its commitment to environmental protection, with a wastewater treatment capacity of 65 tons per day and compliance with relevant environmental regulations[125]. - The company actively pursues social responsibility, focusing on economic benefits while protecting the rights of stakeholders[123].

Financial Performance - Operating revenue for the reporting period was ¥54,079,653.64, a decrease of 9.32% year-on-year[8]. - Net profit attributable to shareholders was ¥4,249,047.46, down 32.55% compared to the same period last year[8]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥309,627.47, a significant decrease of 94.70%[8]. - Basic earnings per share were ¥0.034, down 57.50% year-on-year[8]. - The weighted average return on net assets was 0.89%, a decrease of 58.98% compared to the previous year[8]. - The company expects a net profit attributable to shareholders to range from 2,688.94 to 3,697.29 million, reflecting a decrease of 20.00% to 10.00% compared to the previous year[21]. Cash Flow - The net cash flow from operating activities was -¥6,209,081.81, an increase of 32.06% compared to the previous year[8]. - The net cash flow from operating activities decreased by 89.83% to -17,290,131.11 due to increased inventory for the fourth quarter sales peak[17]. - The net cash flow from investing activities dropped significantly by 746.03% to -147,533,075.34 as the company utilized part of its temporarily idle funds for financial management[17]. Assets and Shareholder Information - Total assets at the end of the reporting period reached ¥484,729,033.57, an increase of 0.05% compared to the end of the previous year[8]. - The total number of shareholders at the end of the reporting period was 15,601[12]. - The largest shareholder, Hongbo Yao, holds 62.78% of the shares, with 6,000,000 shares pledged[12]. - Accounts receivable increased by 49.30% to 10,371,600.71 due to customers stocking up for the year-end sales peak[17]. - Inventory rose by 39.58% to 129,048,472.30 as the company increased stock for the fourth quarter sales peak[17]. Research and Development - Research and development expenses increased by 55.29% to 15,620,934.22 as the company intensified investment in new product and headphone development[17]. - The company plans to continue expanding its market presence and increasing R&D investment, particularly in the headphone sector, which may lead to higher operating costs[21]. Other Income and Gains - The company reported non-recurring gains of ¥10,449,516.27, primarily from government subsidies and investment income[9]. - The company reported a significant increase in other income by 247.75% to 9,859,457.68 mainly from government subsidies[17]. Financial Management - Interest income surged by 210.74% to 1,709,592.16 primarily from the investment of temporarily idle funds[17]. - The company has no overdue commitments or non-operating fund occupation by controlling shareholders during the reporting period[19].

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 126,564,398.97, representing a 6.29% increase compared to CNY 119,071,238.43 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was CNY 16,287,314.14, up by 2.97% from CNY 15,816,911.05 year-on-year[18]. - The net profit after deducting non-recurring gains and losses decreased by 29.20%, amounting to CNY 9,777,217.86 compared to CNY 13,809,733.59 in the previous year[18]. - Basic and diluted earnings per share decreased by 32.00%, both standing at CNY 0.17 compared to CNY 0.25 in the previous year[18]. - Total operating revenue for the first half of 2018 was CNY 126,564,398.97, an increase of 6.3% compared to CNY 119,071,238.43 in the same period of 2017[134]. - Net profit for the first half of 2018 reached CNY 16,287,314.14, compared to CNY 15,816,911.05 in the previous year, indicating a growth of 3.0%[135]. Cash Flow and Financial Position - The net cash flow from operating activities improved by 36.68%, with a net outflow of CNY 11,081,049.30, compared to CNY 17,499,092.95 in the same period last year[18]. - The company's cash and cash equivalents decreased from RMB 241,506,278.85 to RMB 86,098,111.25, a decline of approximately 64.3%[124]. - Total cash inflow from operating activities was 56,015,778.38 yuan, while cash outflow was 63,938,908.23 yuan, resulting in a net cash outflow of 7,923,129.85 yuan[145]. - The company reported a total cash outflow from investing activities of ¥128,064,337.38, compared to ¥8,966,642.89 in the previous period[143]. - The company's total liabilities decreased from RMB 50,843,763.86 to RMB 48,639,464.30, a reduction of approximately 4.3%[126]. Assets and Inventory - The total assets at the end of the reporting period were CNY 482,305,839.99, a slight decrease of 0.45% from CNY 484,469,584.03 at the end of the previous year[18]. - Cash and cash equivalents at the end of the reporting period amounted to ¥86,098,111.25, a decrease of 4.70% from the previous year[51]. - Inventory increased to ¥119,072,092.93, representing 24.69% of total assets, a decrease of 2.04% compared to the previous year[51]. - The company's inventory net amount is 119.0721 million yuan, accounting for 34.46% of current assets, indicating a high inventory level due to a wide range of products and the nature of the business[73]. Research and Development - Research and development investment increased by 61.24% to 10.16 million yuan, reflecting the company's commitment to new product development[43]. - The company plans to enhance product development and quality control to improve consumer experience and brand value in response to industry volatility[71]. - The company will focus on developing new products and technologies to increase product value and adapt to market demand changes[71]. Market and Competition - The company focuses on high-end audio equipment and has received multiple awards for its products, including recognition at the CES Innovation Awards[26]. - The company continues to expand its product range and maintain a strong market presence in the audio equipment sector[26]. - The company is facing intensified competition in the electronic sound industry, with both domestic and international players posing significant challenges[71]. Shareholder Information - The total share capital increased from 83,117,600 shares to 124,676,400 shares after a capital reserve conversion of 41,558,800 shares, with a conversion ratio of 5 shares for every 10 shares held[103]. - HONGBO YAO holds 62.78% of the shares, with a total of 78,269,616 shares, and has pledged 15,000,000 shares[110]. - The company has not distributed cash dividends or bonus shares for the half-year period, nor has it increased capital from reserves[77]. Compliance and Governance - The company has committed to timely and accurate disclosure of its fundraising usage, with no reported violations in fund management[62]. - The company did not undergo any changes in its controlling shareholder or actual controller during the reporting period[112]. - The semi-annual financial report was not audited[122]. Future Outlook - The company expects a net profit attributable to shareholders for the period of January to September 2018 to be between ¥18.80 million and ¥25.43 million, representing a decrease of approximately 15% compared to the same period in 2017[70]. - The company plans to continue expanding its overseas market presence, contributing to the growth in sales revenue[47]. - The company aims to leverage technological innovation and brand strength to enhance core competitiveness and deliver good returns to shareholders[41].

Financial Performance - The company's revenue for Q1 2018 was CNY 64,148,532.63, representing a 17.99% increase compared to CNY 54,366,765.17 in the same period last year[8] - Net profit attributable to shareholders decreased by 4.82% to CNY 5,967,113.44 from CNY 6,269,506.22 year-on-year[8] - Basic and diluted earnings per share both decreased by 30.00% to CNY 0.07 from CNY 0.10 year-on-year[8] - The estimated net profit attributable to shareholders for the first half of 2018 is projected to be between ¥1,423.52 million and ¥2,056.2 million, representing a change of -10.00% to 30.00% compared to the same period in 2017[18] Cash Flow and Assets - The net cash flow from operating activities was negative at CNY -10,657,927.38, a 119.73% decline compared to CNY -4,850,482.09 in the previous year[8] - Operating cash flow decreased by 119.73% to -¥10,657,927.38, driven by increased inventory purchases and service payments[15] - The net cash flow from investment activities decreased by 1,060.11% to -¥58,997,215.18, reflecting the purchase of financial products[15] - Total assets at the end of the reporting period were CNY 492,653,688.46, a 1.69% increase from CNY 484,469,584.03 at the end of the previous year[8] - Net assets attributable to shareholders increased by 1.37% to CNY 439,573,182.65 from CNY 433,625,820.17 at the end of the previous year[8] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 8,998[11] - The largest shareholder, HONGBO YAO, holds 62.78% of the shares, totaling 52,179,744 shares[11] - The company did not engage in any repurchase transactions during the reporting period[12] Operational Changes - Accounts receivable increased by 136.09% to ¥16,401,321.79 due to increased sales to customers[15] - Prepayments rose by 88.31% to ¥4,903,251.72, attributed to increased advance payments for raw materials and promotional expenses[15] - Other current assets surged by 4,405.33% to ¥58,000,000.00 due to the purchase of financial products during the period[15] - Financial expenses increased by 312.84% to -¥756,266.51, primarily due to increased deposit interest[15] Future Outlook - The company plans to increase R&D investment, contributing to stable growth in sales revenue[18] - The company received government subsidies amounting to CNY 632,658.00 during the reporting period[9]

Financial Performance - The company's operating revenue for 2017 was CNY 263,855,357.28, representing an increase of 8.37% compared to CNY 243,484,998.58 in 2016[22] - The net profit attributable to shareholders for 2017 was CNY 33,611,727.90, a decrease of 9.27% from CNY 37,044,594.97 in 2016[22] - The net cash flow from operating activities significantly dropped by 81.19% to CNY 11,702,620.24 from CNY 62,226,266.48 in the previous year[22] - The total assets at the end of 2017 reached CNY 484,469,584.03, marking a 62.41% increase from CNY 298,308,737.97 at the end of 2016[22] - The net assets attributable to shareholders increased by 76.27% to CNY 433,625,820.17 from CNY 245,998,599.91 in 2016[22] - The basic earnings per share for 2017 was CNY 0.47, down 20.34% from CNY 0.59 in 2016[22] - The weighted average return on equity decreased to 10.28% from 15.67% in the previous year, reflecting a decline of 5.39%[22] Dividend and Shareholder Returns - The company plans to distribute a cash dividend of CNY 2.00 per 10 shares to all shareholders, with no bonus shares issued[11] - The cash dividend represents 49.46% of the net profit attributable to shareholders for the year 2017[102] - A cash dividend of 2 CNY per 10 shares will be distributed, totaling 16,623,520 CNY, alongside a capital increase of 5 shares for every 10 shares held[100][104] - The total share capital will increase to 124,676,400 shares after the capital increase[104] Market and Competitive Landscape - The company faces risks from market fluctuations and intensified competition in the electronic sound industry, which could adversely affect its performance[7][8] - The electronic sound industry in China has seen significant growth, with increasing demand driven by rising consumer income and technological advancements[39] - The company operates in a competitive market with a focus on high-end audio products, aiming to leverage its technological advantages and brand recognition[43] - The company’s revenue is expected to be higher in the second half of the year due to seasonal demand during holidays and promotional periods[42] Innovation and R&D - The company reported a total of 91 design patents and 81 utility model patents, showcasing its commitment to innovation[32] - The company added 40 new patents during the reporting period, bringing the total to 91 design patents and 81 utility model patents[54] - The first smart speaker product, Phonism 1, was developed and won the CES 2018 Innovation Awards[54] - Research and development investment amounted to ¥15,105,111.94, a 12.86% increase from the previous year, accounting for 5.72% of total revenue[69] - Continuous investment in technology development will be made to integrate audio quality with mobile internet trends[94] Sales and Revenue Breakdown - The multimedia audio series accounted for 43.28% of total revenue, while the home theater series saw a 20.87% increase in revenue[58] - Domestic sales contributed 97.79% of total revenue, with exports accounting for 2.21%[58] - The revenue from the professional audio series grew by 42.02% year-on-year, driven by market expansion and strong demand[61] - The company's total revenue for Q4 was 85,148,490.65 CNY, showing a significant increase compared to Q1's 54,366,765.17 CNY[27] Cash Flow and Financial Management - Cash and cash equivalents grew by 149.86%, primarily due to funds raised from the initial public offering[44] - The net cash flow from operating activities in Q4 was 20,810,929.51 CNY, a substantial improvement from the negative cash flow of -4,850,482.09 CNY in Q1[27] - Operating cash inflow totaled ¥315,754,719.23, a 9.70% increase year-on-year, while operating cash outflow increased by 34.77%[70] - The net cash flow from operating activities showed significant discrepancies from the net profit for the year, primarily due to increased inventory for the sales peak season[73] Corporate Governance and Management - The company has established a comprehensive salary assessment system, with performance evaluations influencing bonuses and salary adjustments[179] - The governance structure of the company complies with relevant laws and regulations, ensuring effective decision-making and operational coordination[183] - The company has maintained independence from its controlling shareholder in terms of business, personnel, assets, institutions, and finances, with no instances of fund occupation or guarantees provided to the controlling shareholder[190] - The company has established a complete and independent asset system, including production systems, facilities, and intellectual property rights, ensuring no guarantees are provided to shareholders[191] Employee and Workforce Management - The total number of employees in the company is 946, with 528 in production, 87 in sales, 177 in technical roles, and 14 in finance[177] - The company emphasizes training programs to enhance employee skills and management levels, aligning with operational needs[180] - The company has 68 employees with a bachelor's degree or higher, and 711 employees with a high school education or below[178] Audit and Compliance - The company appointed Guangdong Zhengzhong Zhujiang Accounting Firm as its auditor, with an audit fee of 500,000 RMB and a continuous service period of 3 years[114] - Independent directors attended all required board meetings and provided independent opinions on important matters, which were accepted by the company[199] - The audit committee has effectively supervised the company's financial status and operational conditions, ensuring compliance with internal control and auditing standards[200]

广州惠威电声科技股份有限公司 2017 年第三季度报告正文 证券代码：002888 证券简称：惠威科技 公告编号：2017-027 广州惠威电声科技股份有限公司 2017 年第三季度报告正文 1 广州惠威电声科技股份有限公司 2017 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。 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 HONGBO YAO、主管会计工作负责人杜一府及会计机构负责 人(会计主管人员)杜一府声明：保证季度报告中财务报表的真实、准确、完整。 2 广州惠威电声科技股份有限公司 2017 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 | | 本报告期末比上年度末增 | | --- | --- | --- | --- | --- | | | | | | 减 | | 总资产（元） | 467,442,635.02 | | 298, ...

Financial Performance - The company's operating revenue for the first half of 2017 was ¥119,071,238.43, representing a 10.07% increase compared to ¥108,177,262.14 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was ¥15,816,911.05, up 19.39% from ¥13,248,623.14 year-on-year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥13,809,733.59, an increase of 18.50% compared to ¥11,653,904.20 in the previous year[19]. - The basic earnings per share increased to ¥0.25, reflecting a growth of 19.05% from ¥0.21 in the same period last year[19]. - Total revenue for the reporting period reached ¥119,071,238.43, representing a year-on-year increase of 10.07% compared to ¥108,177,262.14 in the same period last year[48]. - The company reported a net profit of ¥15,816,911.05, representing a growth of 19.4% from ¥13,248,623.14 in the same period last year[127]. Assets and Liabilities - The total assets at the end of the reporting period were ¥308,837,604.22, a 3.53% increase from ¥298,308,737.97 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company rose to ¥261,790,475.10, marking a 6.42% increase from ¥245,998,599.91 at the end of the previous year[19]. - The asset-liability ratio has significantly decreased following the issuance of 20.78 million shares, improving the company's risk resistance[41]. - Total liabilities decreased to ¥47,047,129.12 from ¥52,310,138.06, a reduction of 10.5%[119]. Cash Flow - The company reported a net cash flow from operating activities of -¥17,499,092.95, a significant decrease of 285.71% compared to ¥9,422,815.09 in the same period last year[19]. - Cash flow from operating activities showed a net outflow of CNY 17,499,092.95, compared to a net inflow of CNY 9,422,815.09 in the previous period[136]. - The net increase in cash and cash equivalents was negative CNY 16,023,368.93, compared to a negative CNY 18,159,409.63 in the previous period[140]. Inventory and Receivables - Inventory increased to ¥82,539,785.12, representing 26.73% of total assets, attributed to preemptive stocking for the peak sales season[53]. - Accounts receivable increased from ¥9,432,641.93 to ¥15,282,785.52, representing a growth of about 62%[116]. - The company reported a net inventory of 82.54 million yuan, representing 45.75% of current assets, which poses a risk if market demand shifts or technological advancements occur[68]. Research and Development - The company's R&D investment was CNY 6.30 million, showing a slight increase of 0.15% year-on-year[46]. - The company has accumulated 87 design patents and 67 utility model patents, enhancing its competitive edge in the audio equipment market[26]. - The company intends to leverage its technological foundation to develop new products and enhance product value, while also expanding its market share[67]. Market and Sales - Domestic sales accounted for 97.77% of total revenue at ¥116,421,838.56, reflecting an 11.16% increase year-on-year[49]. - The professional audio sales revenue growth is driven by strong market demand, contributing to the overall performance improvement[64]. - The company maintains a comprehensive product line, including multimedia audio, home theater systems, and professional audio equipment, catering to diverse market needs[36]. Strategic Plans - The company plans to leverage its brand and technological advantages to enhance its core competitiveness in the audio industry[42]. - The company plans to enhance research and sales efforts for professional audio, car audio, and speaker product lines to diversify its product structure and reduce sales concentration risk[66]. - The company is exploring potential mergers and acquisitions to strengthen its competitive position in the industry[150]. Shareholder Information - The company has maintained a stable shareholding structure, with 88.43% of shares held by foreign investors[95]. - The total number of ordinary shareholders at the end of the reporting period was 8[99]. - HONGBO YAO, an overseas natural person, holds 83.70% of the shares, totaling 52,179,744 shares[99]. Regulatory and Compliance - There were no significant legal disputes or regulatory penalties reported during the period[76][78]. - The company has confirmed its ability to continue as a going concern for the next 12 months[162]. - The company's financial report for the half-year was not audited[114]. Accounting Policies - The company adheres to the enterprise accounting standards, ensuring that financial statements reflect its financial status accurately[164]. - The company follows the accounting standards for consolidated financial statements, ensuring all significant internal transactions are offset during consolidation[174]. - The company recognizes goodwill when the cost of a business combination exceeds the fair value of identifiable net assets acquired[172].