证券代码：002916 证券简称：深南电路 深南电路股份有限公司投资者关系活动记录表 编号：2023-10 √特定对象调研 □分析师会议 □现场参观 投资者关系 活动类别 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 √其他 （ 策略会 ） 参与单位名称 及人员姓名 （排名不分先 后） 新华资产、北京诚旸投资、易方达基金、银华基金、天风证券、浙商证券策略会。 时间 2023 年 5 月 22 日—5 月 26 日 地点 电话及网络会议；深南电路股份有限公司会议室；策略会举办地（茂名） 上市公司接待 人员姓名 副总经理兼董事会秘书：张丽君；证券事务代表：谢丹；投资者关系经理：郭家旭 投资者关系 活动主要内容 介绍 交流主要内容： Q1、请介绍公司主营业务整体规划布局情况。 公司专注于电子互联领域，在不断强化 PCB 业务领先地位的同时，大力发展与其"技 术同根"的封装基板业务及"客户同源"的电子装联业务，形成业界独特的"3-In-One" 业务布局。公司业务覆盖 1 级到 3 级封装产业链环节，具备提供"样品→中小批量→大批 量"的综合制造能力，通过开展方案设计、制造、电子装联、微组装和测试等全价值链服 ...

证券代码：002916 证券简称：深南电路 编号：2023-09 √特定对象调研 □分析师会议 □现场参观 投资者关系 活动类别 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 √其他 （ 策略会 ） 参与单位名称 及人员姓名 （排名不分先 后） 中信建投策略会、申万宏源策略会、兴全基金、财通证券、交银国际、大成国际、平安 证券、泰康资管（香港）、中再资产（香港）等。 时间 2023 年 5 月 12 日—5 月 17 日 地点 策略会举办地（上海、深圳）；电话及网络会议；深南电路股份有限公司会议室 上市公司接待 人员姓名 副总经理兼董事会秘书：张丽君；证券事务代表：谢丹；投资者关系经理：郭家旭 投资者关系 活动主要内容 介绍 交流主要内容： Q1、请介绍公司 2023 年一季度经营业绩情况。 2023 年一季度，在电子产业需求整体相对承压背景下，公司实现营业收入 27.85 亿 元，同比下降 16.01%，归母净利润 2.06 亿元，同比下降 40.69%。受 PCB 及封装基板业 务下游市场整体需求走弱，营业收入下降影响，叠加无锡基板二期工厂连线爬坡等因素， 使得公司第一季度整体收入、利润同比下降。 ...

Financial Performance - The company's operating revenue for Q1 2023 was ¥2,784,716,084.29, a decrease of 16.01% compared to ¥3,315,538,479.51 in the same period last year[4] - Net profit attributable to shareholders was ¥206,418,890.89, down 40.69% from ¥347,845,453.43 year-on-year[4] - The net profit after deducting non-recurring gains and losses was ¥179,010,568.97, a decline of 44.83% compared to ¥324,278,699.39 in the previous year[4] - Basic and diluted earnings per share were both ¥0.40, down 42.86% from ¥0.70 in the previous year[4] - The total profit for Q1 2023 was approximately ¥208.62 million, a decrease from ¥379.81 million in the same period last year, representing a decline of about 45%[19] - Net profit attributable to the parent company was approximately ¥206.42 million, down from ¥348.04 million year-over-year, reflecting a decrease of around 41%[19] - The total comprehensive income for Q1 2023 was approximately ¥205.70 million, down from ¥347.87 million in the same period last year, reflecting a decrease of around 41%[19] Cash Flow and Assets - The net cash flow from operating activities increased by 13.04% to ¥689,574,962.52 from ¥610,048,806.83 in the same period last year[4] - Cash flow from operating activities for Q1 2023 was approximately ¥689.57 million, an increase of about 13% from ¥610.05 million in the previous year[20] - Cash inflow from operating activities totaled approximately ¥3.44 billion, while cash outflow was about ¥2.75 billion, resulting in a net cash flow from operating activities of ¥689.57 million[21] - The company reported a net cash outflow from financing activities of approximately -¥639.92 million, compared to a net inflow of ¥2.43 billion in the same period last year[22] - The cash and cash equivalents at the end of Q1 2023 were approximately ¥863.03 million, a decrease from ¥1.52 billion at the end of Q1 2022[22] - The company's cash and cash equivalents decreased significantly to RMB 864,419,706.18 from RMB 1,913,469,009.39, a decline of approximately 54.8%[15] Assets and Liabilities - Total assets at the end of Q1 2023 were ¥19,698,804,348.01, a decrease of 4.99% from ¥20,726,545,628.78 at the end of the previous year[4] - Total current assets decreased to RMB 7,452,504,872.05 from RMB 8,577,971,942.61, reflecting a decline of approximately 13.14%[15] - Total current liabilities decreased to ¥5,349,540,900.83 from ¥6,708,472,824.95, reflecting a reduction of approximately 20.24%[16] - Non-current liabilities increased to ¥1,852,284,016.91 from ¥1,768,817,750.34, showing an increase of about 4.00%[16] - The company's long-term equity investments slightly decreased to RMB 3,829,462.21 from RMB 3,887,515.29[15] - Total operating costs for Q1 2023 were ¥2,533,060,104.86, down 12.03% from ¥2,879,405,252.37 in Q1 2022[18] Income and Subsidies - Other income increased by 52.05% to ¥40,394,559.75, primarily due to an increase in government subsidies received[8] - Cash received from government subsidies rose by 73.27% to RMB 34,534,290.03 from RMB 19,930,343.22 year-on-year[10] - The company received tax refunds amounting to approximately ¥125.01 million, compared to ¥76.63 million in the previous year, marking an increase of about 63%[21] - The cash received from tax refunds increased by 63.14% to RMB 125,009,004.24 compared to RMB 76,626,373.71 in the same period last year[10] Strategic Initiatives - The company is focusing on market expansion and new product development as part of its strategic initiatives for future growth[18] - The company has implemented the new accounting standards effective January 1, 2023, impacting deferred tax assets, liabilities, and retained earnings[17] Shareholder Information - The top shareholder, AVIC International Holdings, holds 63.97% of the shares, totaling 328,068,670 shares[11]

Financial Performance - The company's operating revenue for 2022 was ¥13,992,454,035.04, representing a 0.36% increase compared to ¥13,942,521,948.74 in 2021[14]. - The net profit attributable to shareholders for 2022 was ¥1,639,730,777.66, a 10.74% increase from ¥1,480,637,000.32 in 2021[14]. - The net profit after deducting non-recurring gains and losses was ¥1,498,362,669.88, up 17.83% from ¥1,271,642,082.90 in 2021[14]. - The net cash flow from operating activities increased by 35.79% to ¥3,179,833,339.56 in 2022, compared to ¥2,341,812,030.05 in 2021[14]. - The total assets at the end of 2022 were ¥20,726,545,628.78, a 23.43% increase from ¥16,792,291,128.17 at the end of 2021[14]. - The net assets attributable to shareholders increased by 43.82% to ¥12,249,407,783.16 at the end of 2022, compared to ¥8,516,936,681.69 at the end of 2021[14]. - The basic earnings per share for 2022 were ¥3.22, a 6.62% increase from ¥3.02 in 2021[14]. - The weighted average return on equity for 2022 was 14.70%, down from 18.70% in 2021[14]. - The company reported a quarterly revenue of ¥3,507,048,898.80 in Q4 2022, with a net profit of ¥457,949,754.15 attributable to shareholders[17]. - In 2022, the company achieved total revenue of 13.992 billion yuan, a year-on-year increase of 0.36%, and a net profit attributable to shareholders of 1.640 billion yuan, up 10.74% year-on-year[31]. Dividend Policy - The company plans to distribute a cash dividend of 10.00 (including tax) for every 10 shares to all shareholders, with no bonus shares issued[3]. - The proposed cash dividend for 2022 is RMB 10.00 per 10 shares, with a total expected distribution of up to RMB 512,877,535, representing 31.28% of the net profit for 2022[147]. - The company distributed cash dividends of RMB 487,236,323.95, accounting for 32.91% of the net profit attributable to shareholders in 2021[144]. Market and Industry Outlook - The company anticipates a positive outlook for the upcoming fiscal year, driven by increased demand in key markets[4]. - The global PCB industry value increased by 1% year-on-year in 2022, with a projected compound annual growth rate (CAGR) of 3.8% from 2022 to 2027[21]. - The PCB market in mainland China is expected to grow at a CAGR of 3.3%, with a projected value of CNY 51.133 billion by 2027[22]. - The demand for packaging substrates is driven by advancements in 5G communication, AI, and cloud computing, leading to significant growth in the global packaging substrate industry[23]. - The electronic assembly industry is characterized by high market concentration, with leading EMS manufacturers providing comprehensive services beyond branding and sales[24]. Risk Management - The company has identified potential risks including macroeconomic fluctuations, competition, and supply chain disruptions, which may impact future performance[2]. - The company has implemented strategies to mitigate risks associated with material supply and price volatility[3]. - The company is facing risks from macroeconomic fluctuations, which could impact the PCB industry, and is enhancing cash flow management to mitigate these risks[91]. - The company is monitoring the impact of US-China trade tensions, which could affect export revenues, although current sales to the US represent a small portion of total revenue[92]. - The company is committed to improving its supply chain stability and efficiency to counteract potential raw material price fluctuations and supply risks[96]. Strategic Initiatives - The company is focusing on expanding its production capacity and developing new products to enhance market competitiveness[3]. - The company is exploring mergers and acquisitions to strengthen its market position and expand its product offerings[4]. - The company is committed to investing in new technologies to improve production efficiency and product quality[4]. - The company has ongoing projects in Wuxi for high-end IC substrate manufacturing, which are expected to boost production capabilities[7]. - The company is advancing the Guangzhou packaging substrate project and the second phase of the Wuxi substrate project, with the latter entering production in September 2022[34]. - The company is focusing on digital transformation and process reform to enhance operational efficiency and quality management[36]. Research and Development - R&D investment reached 820 million yuan, a year-on-year increase of 4.75%, representing 5.86% of total revenue, with 141 new patents granted during the year[37]. - The company is currently developing several key technologies, including next-generation electronic circuit technology for data centers and automotive electronics[60]. - The company has invested 500 million RMB in R&D for new technologies, focusing on sustainable manufacturing practices[130]. Environmental and Social Responsibility - The company emphasizes the importance of environmental, social, and governance (ESG) factors in its operational strategy[7]. - The company has established a carbon emission management committee to enhance its long-term sustainable development practices[45]. - The company invested over 60 million yuan in pollution prevention facilities and operational costs during the reporting period, achieving 100% compliance in pollutant emissions[166]. - The company completed 13 energy-saving renovation projects, expected to reduce carbon emissions by 4,202.2 tons annually[168]. - The company has continuously published social responsibility reports since 2007, emphasizing its commitment to sustainable development and stakeholder engagement[171]. Corporate Governance - The company has a governance structure that includes a board of directors, supervisory board, and management team, ensuring clear responsibilities and coordination[103]. - The company has three independent directors, constituting one-third of the board, enhancing governance and oversight[106]. - The company has implemented a comprehensive internal audit system, reporting directly to the audit committee[112]. - The company actively engages in investor relations, providing a platform for effective communication with stakeholders[111]. - The company has established a commitment to ensure that the future equity incentive plan's exercise conditions are linked to the implementation of compensation measures[185]. Employee and Talent Management - The total number of employees at the end of the reporting period was 14,440, with 6,382 in the parent company and 8,058 in major subsidiaries[141]. - The employee composition includes 9,459 production staff, 351 sales personnel, and 3,892 technical staff[141]. - The company has a strong talent development mechanism, with 6 recognized national and local leading talents[43]. - The company has established a three-tier training system focused on strategic direction to enhance employee skills and management capabilities[143]. Investor Relations - The company held multiple earnings conference calls throughout March and April 2022, discussing annual and quarterly reports with various securities firms[98][100]. - The company maintained a 100% response rate to investor inquiries, answering 154 questions through its investor relations platform in 2022[111]. - The company emphasized its ongoing communication with investors through various strategy meetings and conference calls throughout 2022, ensuring transparency and engagement[100][101].

证券代码：002916 证券简称：深南电路 公告编号：2023-013 2023 年 3 月 27 日（星期一）15:00 - 17:00 深南电路股份有限公司 关于举办 2022 年年度网上业绩说明会并征集相关问题的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 深南电路股份有限公司（以下简称"公司"）2022 年年度报告已于 2023 年 3 月 15 日披露，为使广大投资者进一步了解公司 2022 年年度报告和经营情况，公司 将举办 2022 年年度网上业绩说明会。 一、会议召开日期和时间 二、会议召开方式 本次网上说明会将采用网络远程的方式召开。 三、公司出席人员 公司出席本次说明会的人员有：董事长杨之诚先生，董事、总经理周进群先 生，独立董事黄亚英先生，副总经理、董事会秘书、总法律顾问张丽君女士，副总 经理、财务负责人楼志勇先生，保荐代表人杨滔先生、银波先生。 四、投资者参与方式 投资者可通过网址 https://eseb.cn/12VZwxiOPGo 或扫描以下小程序码，进入深 南电路年度业绩说明会交流平台： 五、投资者问题征集及方式 为提升 ...

Financial Performance - The company's operating revenue for the reporting period reached ¥6,971,616,823.46, an increase of 18.55% compared to the same period last year[25]. - Net profit attributable to shareholders was ¥752,100,693.05, reflecting a growth of 34.10% year-on-year[25]. - The net profit after deducting non-recurring gains and losses was ¥700,127,506.99, up 45.49% from the previous year[25]. - Basic earnings per share increased to ¥1.49, a rise of 30.70% year-on-year, while diluted earnings per share reached ¥1.48, up 29.82%[25]. - Total assets at the end of the reporting period amounted to ¥19,281,781,316.45, a growth of 14.83% from the end of the previous year[25]. - The net assets attributable to shareholders increased to ¥11,355,446,446.50, marking a 33.33% increase compared to the previous year[25]. - The company's total operating income reached approximately 6.97 billion yuan, representing an 18.55% increase compared to the previous year[56]. - The total comprehensive income for the period was CNY 753,124,938.07, compared to CNY 560,895,065.43 in the same period last year, marking a growth of 34.2%[179]. - The total revenue for the first half of 2022 reached 9,375 million yuan, reflecting a growth of 35.96% year-over-year[198]. Investment and R&D - R&D investment amounted to 401 million CNY, up 15.00%, accounting for 5.75% of total revenue[44]. - The company has developed a unique "3-In-One" business model, enhancing its comprehensive manufacturing capabilities across various stages from sample to mass production[49]. - The company is focusing on market expansion and new product development, as indicated by the increase in R&D spending and operating profit[178]. - The R&D expenditure for the current period was 5,031 million, representing a commitment to innovation and technology advancement[200]. Market and Industry Outlook - The global PCB industry is expected to see a growth rate of 4.2% in 2022, influenced by various economic factors[34]. - The compound annual growth rate for the packaging substrate market in mainland China is projected to be 9.2% from 2021 to 2026, significantly higher than other regions[36]. - The electronic assembly industry is experiencing improvements in supply chain conditions, although structural shortages still persist in various sectors[38]. - The company is expanding into new markets such as automotive electronics and advanced packaging substrates, which may present risks related to customer demand mismatches[91]. Risk Management - The company faced risks from macroeconomic fluctuations, US-China trade tensions, and the COVID-19 pandemic, which could impact future performance[4]. - The company emphasizes the importance of risk management in its operations, particularly regarding supply chain and market competition[4]. - The company aims to enhance cash flow management and operational efficiency to mitigate risks and optimize market positioning[88]. - The company is facing risks related to market competition as domestic PCB companies continue to list and increase production capacity, intensifying competition[90]. Environmental and Social Responsibility - The company invested over 30 million yuan in pollution prevention facilities and operating expenses during the reporting period, achieving 100% compliance in pollutant emissions[106]. - The company has established a clean production committee and a professional environmental management team to address the impact of pollutants generated during production[105]. - The total pollutant discharge for the company is less than 60.225 tons per year, with no exceedance of discharge standards reported[105]. - The company completed 4 energy-saving renovation projects in the first half of 2022, expected to reduce carbon emissions by 2,526.4 tons annually[110]. Shareholder and Capital Structure - The company has not declared any cash dividends or stock bonuses for the half-year period[100]. - The company issued 23,694,480 new shares at a price of 107.62 CNY per share, raising a total of 2,549,999,937.60 CNY, with a net amount of 2,529,664,782.94 CNY after deducting issuance costs of 20,335,154.66 CNY[140]. - The total number of shares increased from 489,208,272 to 512,880,300, with the newly issued shares representing approximately 4.63% of the total shares post-issuance[143]. - The company’s shareholding structure includes 1.59% held by state-owned entities and 1.18% by foreign investors post-issuance[143]. Financial Stability and Cash Flow - The net cash flow from operating activities was ¥1,632,272,255.99, up 99.76% from the previous year[25]. - Cash inflow from financing activities was CNY 2,732,407,969.35, compared to CNY 1,460,399,512.21 in the first half of 2021, marking an 86.9% increase[186]. - The ending balance of cash and cash equivalents was CNY 659,484,227.07, compared to CNY 543,440,431.15 at the end of the first half of 2021[186]. - The company reported a significant increase in other income, totaling CNY 52,945,416.13, compared to CNY 92,218,653.77 in the previous year, reflecting diversified income sources[178].

Financial Performance - Net profit attributable to shareholders increased by 121.50% to CNY 192,574,907.51 for the reporting period[8] - Operating revenue for the reporting period reached CNY 2,097,046,724.77, a growth of 41.22% year-on-year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses rose by 152.71% to CNY 180,372,003.33[8] - Basic earnings per share increased by 68.29% to CNY 0.69 for the reporting period[8] - Net profit attributable to shareholders rose by 39.59% to RMB 472,928,817.82, influenced by revenue growth[17] - The company expects net profit for 2018 to increase by 20.00% to 40.00%, estimating between RMB 53,769.87 million and RMB 62,731.52 million[23] Assets and Liabilities - Total assets increased by 8.64% to CNY 8,086,815,263.50 compared to the end of the previous year[8] - Accounts receivable increased by 85.43% to RMB 1,553,925,207.26 due to revenue scale growth[17] - Inventory grew by 30.41% to RMB 1,365,422,993.77, corresponding to the increase in revenue scale[17] Cash Flow and Expenses - The net cash flow from operating activities was CNY 750,910.10, a decline of 100.58% compared to the same period last year[8] - Cash received from tax refunds increased by 41.93% to RMB 147,321,984.81 due to sales growth[18] - Cash paid for purchasing goods and services rose by 36.68% to RMB 3,346,033,716.90, reflecting increased material purchases[18] - Sales expenses increased by 40.49% to RMB 113,792,780.26 due to higher sales volume[17] - Financial expenses decreased by 60.20% to RMB 34,162,184.19 primarily due to reduced exchange losses[17] Investments and Management - Investment income surged by 6043.97% to RMB 8,950,173.99 driven by increased financial management income[17] - The company plans to utilize up to RMB 600 million of idle raised funds for cash management within 12 months[19] - The company reported a total of 48,500,000 RMB in entrusted financial management, with an outstanding balance of 35,600,000 RMB[29] - There were no overdue amounts reported for entrusted financial management, indicating effective liquidity management[29] Shareholder Information - The total number of shareholders at the end of the reporting period was 34,074[12] - The largest shareholder, AVIC International Holdings, held 69.74% of the shares[12] Communication and Transparency - The company has conducted multiple investor communications, including site visits and phone calls, throughout July to September 2018, enhancing transparency with institutional investors[30] - Non-recurring gains and losses totaled CNY 31,925,536.58 for the year-to-date[9]

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 3,239,757,362.53, representing an increase of 18.70% compared to CNY 2,729,342,273.05 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was CNY 280,353,910.30, up 11.31% from CNY 251,867,056.78 year-on-year[17]. - The net profit after deducting non-recurring gains and losses was CNY 260,631,277.91, reflecting a growth of 17.06% compared to CNY 222,640,611.14 in the previous year[17]. - The company achieved total revenue of CNY 3.24 billion in the first half of 2018, representing a year-on-year growth of 18.70%[44]. - Net profit attributable to shareholders reached CNY 280 million, an increase of 11.31% compared to the previous year[44]. - The printed circuit board (PCB) business generated sales of CNY 2.30 billion, accounting for 70.97% of total revenue, with a growth rate of 19.61%[45]. - The packaging substrate business, driven by demand for MEMS-MIC products, reported sales of CNY 386 million, up 19.33% and representing 11.91% of total revenue[46]. - The electronic assembly business achieved sales of CNY 399 million, reflecting a growth of 16.67% and accounting for 12.31% of total revenue[47]. - The company reported a significant increase in revenue for the first half of 2018, with a year-on-year growth of 24%[93]. - The company reported a significant increase in revenue for the first half of 2018, achieving a total of 1.5 billion RMB, representing a year-on-year growth of 20%[103]. Cash Flow and Assets - The net cash flow from operating activities decreased by 35.68% to CNY 369,386,958.36 from CNY 574,321,451.08 in the same period last year[17]. - The company's cash and cash equivalents decreased to RMB 583,881,094.85 from RMB 1,593,300,064.85, representing a decline of approximately 63.4%[155]. - The company's cash and cash equivalents decreased significantly to CNY 463,292,484.60 from CNY 1,508,409,791.32 at the beginning of the year[160]. - The total assets at the end of the reporting period were CNY 7,704,045,479.13, an increase of 3.50% from CNY 7,443,389,852.03 at the end of the previous year[17]. - The company's total assets decreased to CNY 5,795,193,352.39 from CNY 6,345,572,764.08 at the beginning of the year[162]. - The company's total current liabilities decreased significantly from RMB 160,000,000.00 to RMB 5,000,000.00, a reduction of about 96.9%[156]. - The company's retained earnings improved to CNY 739,742,542.36 from CNY 617,981,067.41, showing a positive trend in profit retention[162]. - The total equity attributable to shareholders increased to CNY 3,271,419,975.52 from CNY 3,149,658,500.57, reflecting a stronger equity position[162]. Market Position and Strategy - The company focuses on the electronic interconnection field, with a unique "3-In-One" business layout comprising printed circuit boards (PCBs), packaging substrates, and electronic assembly[25]. - According to the 2018 Prismark Q1 report, the company ranks 21st among global PCB manufacturers, with China's PCB output value expected to account for 51.1% of the global total in 2018[30]. - The company has a leading market share of over 30% in the MEMS packaging substrate for silicon microphones, widely used in smartphones from Apple and Samsung[28]. - The company is advancing its PCB technology in high-end applications, particularly in 5G, new energy vehicles, and the Internet of Things, with a focus on aerospace and industrial control sectors[25]. - The company is actively expanding its market presence and enhancing its product structure to maintain its competitive edge in high-end PCB markets[44]. - The company is currently engaged in significant non-equity investments, including projects in high-density multilayer printed circuit boards and IC substrates[63]. - The company is considering strategic acquisitions to enhance its market position, targeting a deal valued at approximately $100 million[93]. - The company plans to accelerate the implementation of fundraising projects and develop new market segments to achieve sustained sales growth[86]. Research and Development - Research and development investment totaled CNY 166 million, a year-on-year increase of 17.72%, representing over 5% of total revenue[48]. - The company has implemented a three-tier R&D system, resulting in a series of proprietary technologies and patents, maintaining a leading edge in the industry[36]. - The company is investing heavily in technology R&D, allocating 10% of its revenue to innovation initiatives in 2018[105]. - The company is investing in R&D, with a budget increase of 30% for new technology development[93]. - The company has allocated resources for the development of new products, aiming to enhance its competitive edge in the market[186]. Risks and Challenges - The company faces various risks including exchange rate risks and market competition risks, as detailed in the report[5]. - The company acknowledges risks related to raw material supply and price volatility, which could affect production stability and profitability[86]. - The PCB industry faces intense competition and potential adverse effects on performance if the company cannot effectively respond to market challenges[85]. - The company faces risks associated with capacity ramp-up after large-scale expansion, which may temporarily impact operational performance[85]. - The company is sensitive to fluctuations in the USD/RMB exchange rate, which can directly impact import costs and export prices, affecting net profit[85]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company committed to stabilize its stock price by repurchasing shares if certain conditions are met, such as the stock price being below the latest audited net asset value for 20 consecutive trading days[95]. - The company will not oppose any share repurchase plans proposed at the shareholders' meeting[95]. - The company has established measures to handle any violations of commitments effectively[100]. - The company has committed to fulfilling its obligations as stated in the prospectus, with measures in place for any potential non-compliance[107]. Environmental and Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[128]. - The total wastewater discharge was 20.365 tons per year, which is below the permitted limit of 61.32 tons per year[128]. - The company invested over 10 million RMB in pollution prevention facilities during the reporting period, with 100% compliance in pollutant emissions[130]. - The company has established a comprehensive wastewater treatment system, utilizing physical-chemical treatment, ultrafiltration, and reverse osmosis for wastewater reuse[130]. - The company has implemented a rigorous environmental monitoring plan, conducting wastewater monitoring every 4 hours and air quality monitoring every 2 months[131].

Financial Performance - The company's operating revenue for Q1 2018 was ¥1,477,473,285.48, representing a 14.76% increase compared to ¥1,287,394,591.94 in the same period last year[8] - Net profit attributable to shareholders was ¥117,064,968.89, up 15.13% from ¥101,678,062.02 year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥107,338,328.91, reflecting a 13.34% increase from ¥94,701,389.74 in the previous year[8] - Basic and diluted earnings per share decreased by 12.50% to ¥0.42 from ¥0.48 year-on-year[8] - The weighted average return on equity was 3.63%, down 2.61% from 6.24% in the previous year[8] Cash Flow and Assets - The net cash flow from operating activities was -¥46,347,240.29, a decline of 148.56% compared to -¥18,646,359.86 in the same period last year[8] - Total assets at the end of the reporting period were ¥7,298,810,909.82, a decrease of 1.94% from ¥7,443,389,852.03 at the end of the previous year[8] - Cash and cash equivalents decreased by 63.03% to RMB 589,027,916.90 mainly due to the use of raised funds for investment projects[15] - Other current assets increased by 291.21% to RMB 474,747,453.99 due to the addition of principal-protected wealth management products[15] Shareholder Information - Net assets attributable to shareholders increased by 3.69% to ¥3,284,677,424.95 from ¥3,167,779,894.93 at the end of the previous year[8] - The total number of ordinary shareholders at the end of the reporting period was 51,948[11] - The largest shareholder, AVIC International Holdings, held 69.74% of the shares, totaling 195,278,970 shares[11] Expenses and Liabilities - Sales expenses increased by 43.75% to RMB 34,288,974.06 due to higher sales volume[15] - Financial expenses rose by 31.65% to RMB 31,455,705.55 primarily due to increased exchange losses[15] - Short-term borrowings decreased by 34.38% to RMB 105,000,000.00 due to repayment of bank loans[15] - The company reported a 77.24% increase in asset impairment losses to RMB 17,723,941.57, primarily due to increased provisions for bad debts[15] Future Outlook - The company expects net profit attributable to shareholders for H1 2018 to be between RMB 25,186.71 million and RMB 30,224.05 million, indicating a growth compared to the same period in 2017[22] - The company plans to use up to RMB 600 million of idle raised funds for cash management within 12 months[18] - The company received tax refunds of RMB 57,137,422.32, an increase of 98.12% compared to the previous year[17] Non-Operating Funds - The non-operating fund occupation balance from controlling shareholders and other related parties at the end of the reporting period was zero[26] - The total amount of non-operating fund occupation at the end of the period accounted for 0.00% of the most recent audited net assets[26] - There were no new major shareholders or their subsidiaries' non-operating fund occupation situations during the reporting period[26] - The company did not conduct any research, communication, or interview activities during the reporting period[27]

Financial Performance - The company's operating revenue for 2017 was ¥5,686,939,441.08, representing a year-on-year increase of 23.67% compared to ¥4,598,502,246.63 in 2016[6]. - The net profit attributable to shareholders for 2017 was ¥448,082,267.22, a significant increase of 63.44% from ¥274,164,178.03 in 2016[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥381,526,217.32, up 62.29% from ¥235,089,019.33 in 2016[6]. - The company's total assets at the end of 2017 reached ¥7,443,389,852.03, marking a 44.81% increase from ¥5,140,000,734.80 at the end of 2016[19]. - The net assets attributable to shareholders increased by 100.71% to ¥3,167,779,894.93 at the end of 2017, compared to ¥1,578,307,553.25 at the end of 2016[19]. - The basic earnings per share for 2017 was ¥2.13, reflecting a 62.60% increase from ¥1.31 in 2016[6]. - The weighted average return on equity for 2017 was 25.61%, up from 18.48% in 2016, indicating improved profitability[6]. - The company achieved total revenue of RMB 5.69 billion in 2017, a year-on-year increase of 24%[48]. - Net profit attributable to shareholders reached RMB 448 million, representing a 63% increase compared to the previous year[48]. Dividend Distribution - The company reported a cash dividend of 5.10 RMB per 10 shares, based on a total of 280,000,000 shares[5]. - The cash dividend represents 100% of the total distributable profit of 617,981,067.41 yuan[109]. - In 2017, the net profit attributable to ordinary shareholders was 448,082,267.22 yuan, with a cash dividend payout ratio of 31.87%[108]. - The cash dividend amount for 2016 was 126,000,000 yuan, with a net profit of 274,164,178.03 yuan, resulting in a payout ratio of 45.96%[108]. - The company did not propose any stock dividends or capital reserve transfers for the year 2017[110]. Business Operations and Strategy - The company has not changed its main business since its listing, and there have been no changes in controlling shareholders[17]. - The company focuses on high-end PCB design, research, and manufacturing, with applications primarily in communication equipment and key sectors like aerospace and industrial control[30]. - The company has established long-term strategic partnerships with global leaders such as Huawei, General Electric, and Honeywell, enhancing its market presence[34]. - The company has a comprehensive business layout with a "3-In-One" strategy, integrating PCB, packaging substrates, and electronic assembly services[40]. - The company is actively developing next-generation PCB products for 5G communication networks and has made progress in the automotive electronics sector[49]. Market Position and Industry Outlook - The company is recognized as a leading enterprise in the PCB industry in China and ranked 21st globally among PCB manufacturers according to the 2017 Prismark report[29]. - The PCB industry in China is projected to account for 52.3% of the global output value in 2017, up from 50.0% in 2016, with a compound annual growth rate (CAGR) of 4.2% expected from 2017 to 2022[35]. - The global PCB market is expected to grow at a moderate rate of 2.8% from 2017 to 2022, with the total market value projected to reach $66.8 billion by 2022[37]. - The electronic manufacturing services (EMS) industry is expected to grow from $446.3 billion in 2016 to over $559.8 billion by 2020, reflecting a CAGR of approximately 5.4%[37]. Research and Development - The company has a robust R&D framework, maintaining industry-leading technology through a three-tiered research and development system[42]. - R&D investment totaled RMB 290 million, a 27% increase, representing over 5% of total revenue[52]. - The company is investing heavily in R&D, with a budget increase of 25%, totaling 150 million RMB for new technology development[124]. - The company is investing 200 million yuan in research and development for innovative technologies over the next three years[125]. Risk Factors - The company faces potential risks including industry competition, capacity ramp-up after large-scale expansion, exchange rate fluctuations, and raw material supply and price volatility[5]. - The PCB industry faces risks from market competition and potential capacity ramp-up challenges, which could impact the company's performance[101]. - The company is committed to addressing raw material supply and price volatility risks through innovation and optimization strategies[102]. Corporate Governance and Compliance - The board of directors has confirmed the accuracy and completeness of the annual report, ensuring no misleading statements or omissions[4]. - The company has established a commitment to avoid related party transactions, ensuring fairness and market pricing in any unavoidable transactions[122]. - The company emphasizes compliance with laws and regulations to prevent the misuse of assets and resources[122]. - The company has made a long-term commitment to avoid the misuse of funds and ensure compliance by other enterprises under its control[123]. Social Responsibility and Environmental Compliance - The company invested over 20 million RMB in environmental protection facilities and operations during the reporting period, achieving 100% compliance in pollutant emissions[162]. - The company has been recognized as a key pollutant discharging unit and has implemented effective measures to ensure compliance with environmental regulations[160]. - The company has conducted social responsibility training for suppliers and organized a "Supplier Social Responsibility Advocacy Conference" to promote responsible practices[157]. - The company has been actively involved in social welfare activities, including hosting the "Shennan Circuit Cup" national aviation model competition for 13 consecutive years[158]. Shareholder Commitments and Management - The company has committed to not transferring or entrusting others to manage its shares for 12 months following the IPO[112]. - The company will not oppose share repurchase plans proposed at the shareholders' meeting, ensuring stability in stock price[114]. - The company has established a commitment to compensate investors for any losses incurred due to non-fulfillment of repurchase commitments[115]. - The company has made a commitment to not engage in any activities that may lead to competition with its main business operations[117].