Company Overview - Ningbo Xingrui Electronic Technology Co., Ltd. has undergone three development phases: 1. 2001-2010: Established core capabilities in precision manufacturing, achieving a global market share of 1 in TV coordinators [2] 2. 2010-2018: Transitioned to automotive electronics, consumer electronics, and smart terminals due to IC substitution issues in TV coordinators [2] 3. Post-2018: Focused on smart terminals and automotive electronics, expanding the industrial chain [3] Production and Capacity - The company has production bases in six locations: Suzhou, Ningbo, Dongguan, Wuxi, Vietnam, and Indonesia, with overseas bases aimed at reducing labor costs and enhancing competitiveness [3] - The Vietnam factory is expected to produce 15 million units, generating sales of approximately 400-500 million RMB, primarily following the capacity transfer of clients like Foxconn and Compal [3] - The Indonesia factory has already started production, meeting a demand of 7 million units for smart terminal components [3] Financial Performance - Over 60% of sales revenue comes from exports, with a focus on high-quality clients, resulting in favorable gross margins [3] - The company has a high employee loyalty rate, with over 17% employee stock ownership [3] Market Strategy - The company is shifting its marketing focus towards top domestic clients in the new energy vehicle and consumer electronics sectors due to the pandemic's uncertainties [3] - The collaboration with Panasonic on BDU components is expected to become a significant growth point, with products aimed at major automotive brands like Mercedes-Benz and BMW [4] Currency and Risk Management - The company employs hedging strategies to mitigate the impact of currency fluctuations, benefiting from RMB depreciation due to its export-oriented product line [4] - Current capacity utilization is estimated at around 80%, with some impact from the pandemic but overall manageable [3]

Financial Performance - The company's revenue for Q3 2022 reached ¥509,847,275.19, representing a 60.62% increase compared to the same period last year[6]. - Net profit attributable to shareholders for Q3 2022 was ¥66,357,780.10, a significant increase of 155.02% year-on-year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥69,294,903.65, up 193.03% from the previous year[6]. - Basic earnings per share for Q3 2022 were ¥0.22, reflecting a 144.44% increase compared to the same period last year[6]. - Total operating revenue for the current period reached ¥1,265,249,359.39, a significant increase from ¥901,090,035.00 in the previous period, representing a growth of approximately 40.4%[32]. - Net profit for the current period was ¥142,445,713.74, up from ¥88,929,724.74 in the previous period, reflecting a growth of approximately 60.2%[35]. - The diluted earnings per share for the current period was ¥0.48, compared to ¥0.30 in the previous period, indicating an increase of 60%[38]. Assets and Liabilities - Total assets at the end of Q3 2022 amounted to ¥1,713,017,734.01, an increase of 19.48% from the end of the previous year[6]. - Shareholders' equity attributable to the parent company reached ¥1,180,148,878.87, up 11.50% from the end of the previous year[6]. - The company reported a total liability of ¥533,498,853.68, compared to ¥375,269,566.71 in the previous period, which is an increase of approximately 42.2%[32]. - The company’s total liabilities and equity reached ¥1,713,017,734.01, compared to ¥1,433,687,739.50 in the previous period, reflecting an increase of approximately 19.5%[32]. Cash Flow - The company reported a net cash flow from operating activities of ¥77,318,856.59, which decreased by 31.98% year-to-date[6]. - The net cash flow from investment activities improved by 28.48%, amounting to -¥148,301,306.51, as the investment in financial products was lower than the previous year[19]. - The net cash flow from financing activities decreased by 34.08% to -¥24,164,024.78, influenced by an increase in short-term bank loans and changes in employee equity incentive payments[19]. - The net cash flow from operating activities for Q3 2022 was ¥77,318,856.59, a decrease from ¥113,674,805.96 in Q3 2021, reflecting a decline of approximately 32%[42]. - The total cash outflow from operating activities was ¥1,155,989,242.87, down from ¥1,483,710,727.83 in Q3 2021, reflecting a decrease of approximately 22%[42]. Revenue Drivers - The increase in revenue was primarily driven by sales growth in automotive electronics and smart terminal products[11]. - The company experienced a 40.41% increase in total revenue year-to-date, amounting to ¥1,265,249,359.39[11]. Operating Costs - The company noted an increase in operating costs and management expenses, with operating costs rising by 43.69% year-to-date[11]. - Total operating costs amounted to ¥1,089,442,124.59, compared to ¥810,355,442.15 in the previous period, indicating an increase of about 34.4%[32]. Accounts and Inventory - Accounts receivable increased by 37.54% to ¥480,794,474.43, attributed to higher sales during the reporting period[18]. - Inventory rose by 59.33% to ¥228,074,883.13, driven by increased sales and strategic stockpiling[18]. - Long-term receivables increased by 140.00% to ¥1,200,000.00, due to deposits for new factory dormitories[18]. - The company’s other non-current assets surged by 1390.74% to ¥46,929,845.24, indicating substantial investments[18]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 10,374[23]. - Major shareholder 宁波哲琪投资管理有限公司 held a 24.26% stake, amounting to 72,259,670 shares[23]. - The company has established relationships among major shareholders, indicating potential coordinated actions among them[26].

Financial Performance - The company reported a total revenue of 1.2 billion yuan for the first half of 2022, representing a year-on-year increase of 15%[21]. - Net profit attributable to shareholders reached 150 million yuan, up 20% compared to the same period last year[21]. - The company's operating revenue for the reporting period was ¥755,402,084.20, representing a 29.42% increase compared to ¥583,663,310.80 in the same period last year[28]. - Net profit attributable to shareholders was ¥77,254,627.76, up 22.82% from ¥62,902,991.35 year-on-year[28]. - The net profit after deducting non-recurring gains and losses was ¥80,233,768.59, reflecting a 39.20% increase from ¥57,641,076.66 in the previous year[28]. - The company achieved a revenue of CNY 755.40 million, representing a year-on-year growth of 29.42%[57]. - The net profit attributable to shareholders was CNY 77.25 million, an increase of 22.82% compared to the previous year[57]. - The company reported a total revenue of 36,209.32 million yuan, with a net profit of 3,136.34 million yuan[131]. Research and Development - The company plans to invest 200 million yuan in R&D for new energy vehicle technologies in the upcoming year[21]. - R&D investment reached CNY 32.90 million, up 27.66% year-on-year, with a total of 270 R&D personnel and 110 patents held[52]. - The company focuses on precision component manufacturing and R&D, with products widely used in smart terminals and new energy vehicles[43]. - The company has upgraded its R&D center, with an investment of 31.18 million RMB, achieving 45.40% of the planned investment[126]. Market Expansion - The company has expanded its market presence in Southeast Asia, achieving a 25% growth in sales in that region[21]. - User data indicates a 30% increase in active users of the company's automotive electronics products[21]. - The company is exploring strategic acquisitions to enhance its product offerings and market share[21]. - The company reported a 38.46% increase in sales outside mainland China, attributed to the ramp-up of operations in factories in Vietnam and Indonesia[71]. - The company has expanded its overseas production capacity with factories in Indonesia and Vietnam, requiring enhanced management capabilities[149]. Operational Challenges - The management highlighted potential risks including supply chain disruptions and increased competition in the automotive electronics sector[5]. - The ongoing COVID-19 pandemic continues to impact operations in Vietnam and Indonesia, with potential risks to production and business expansion[144]. - The company is exposed to foreign exchange risks due to most products being exported and settled in USD, which may affect financial performance[145]. - The company faces risks from commodity price fluctuations, particularly for raw materials like steel and copper, which could impact operating results[148]. Cash Flow and Investments - The company reported a net cash flow from operating activities of ¥31,365,659.48, a decrease of 37.49% from ¥50,178,921.79 in the previous year[28]. - The company has a total of CNY 50,935,386.62 invested in various projects, with a cumulative actual investment of CNY 239,928,086.62[93]. - The company has a total of CNY 1,940.78 in foreign exchange forward contracts set to mature on April 30, 2022, with a reported loss of CNY 27.30[98]. - The company has a total of CNY 1,945.09 in foreign exchange forward contracts set to mature on May 31, 2022, with a reported loss of CNY 67.01[98]. Environmental Responsibility - The company invested approximately 995,300 RMB in environmental protection measures, achieving a 100% compliance rate for emissions[170]. - The company has a waste water treatment system that achieves zero discharge, with all treated water reused in production[168]. - The company’s environmental monitoring includes daily checks on wastewater discharge to ensure compliance before release[169]. - The company has established a solid communication mechanism with customers and suppliers, promoting a "green procurement" model[174]. Employee Engagement and Social Responsibility - The company has conducted nearly 100 cultural and professional training events for employees during the reporting period[174]. - The company has actively engaged in social responsibility activities, including charity donations and support for underprivileged students for 14 consecutive years[175]. - The employee stock ownership plan holds a total of 700,060 shares, representing 0.24% of the company's total equity[160]. Corporate Governance - The company has not faced any administrative penalties related to environmental issues during the reporting period[169]. - The company has confirmed that its derivative investment activities are not speculative and are necessary for daily operations[110]. - The company has established a comprehensive hedging management system to mitigate operational risks from commodity and foreign exchange price fluctuations[110]. - The company has not reported any issues or other circumstances regarding the use and disclosure of raised funds[127].

Revenue and Profit - The company's revenue for Q1 2022 was CNY 354,926,166.70, representing a 13.66% increase compared to CNY 312,276,774.72 in the same period last year[5]. - Net profit attributable to shareholders decreased by 8.92% to CNY 34,013,726.12 from CNY 37,344,717.39 year-on-year[5]. - Total operating revenue for the current period reached ¥354,926,166.70, an increase from ¥312,276,774.72 in the previous period, representing a growth of approximately 13.6%[32]. - Net profit for the current period was ¥33,825,731.65, down from ¥37,344,667.57 in the previous period, indicating a decrease of approximately 9.5%[35]. Earnings and Shareholder Equity - Basic and diluted earnings per share both decreased by 15.38% to CNY 0.11 from CNY 0.13 in the same period last year[5]. - The company's equity attributable to shareholders increased to RMB 1,093,480,621.48 from RMB 1,058,385,285.50, representing a growth of approximately 3.5%[31]. - The total equity increased by approximately 3.3% from RMB 1,058,418,172.79 to RMB 1,093,823,452.12[31]. Cash Flow and Operating Activities - The net cash flow from operating activities was negative at CNY -29,659,153.35, a decline of 260.94% compared to CNY 18,428,182.05 in the previous year[5]. - Cash flow from operating activities was ¥358,244,336.32, compared to ¥704,386,260.10 in the previous period, showing a significant decrease of approximately 49.2%[39]. - The net cash flow from operating activities was -$29.66 million, a decrease from $18.43 million in the previous period[42]. Investment and Financial Activities - The company reported a significant increase in investment income by 193.79% to CNY 782,015.35, driven by gains from forward foreign exchange contracts[9]. - The net cash flow from investment activities decreased by 21,894,027.27 yuan, an increase of 80.20% compared to the same period last year[14]. - Cash inflow from investment activities was $56.78 million, up from $49.20 million in the previous period[42]. - The net cash flow from investment activities was -$49.19 million, worsening from -$27.30 million year-over-year[42]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,437,488,779.51, a slight increase of 0.27% from CNY 1,433,687,739.50 at the end of the previous year[5]. - The company's current assets totaled RMB 910,906,675.61, down from RMB 970,036,205.22 at the beginning of the year, indicating a decrease of approximately 6.5%[25]. - The total liabilities decreased to RMB 343,665,327.39 from RMB 375,269,566.71, reflecting a reduction of about 8.4%[28]. Expenses and Other Income - Sales expenses decreased by 43.63% to CNY 7,539,379.18, primarily due to the reclassification of freight and customs fees to cost of goods sold[9]. - Financial expenses increased by 149.34% to CNY 1,285,361.53, mainly due to increased exchange losses and decreased interest income[9]. - Other income increased by 69.32% to CNY 354,157.00, attributed to higher government subsidies received[9]. - The company experienced a foreign exchange loss of ¥742,434.45, compared to a gain of ¥1,181,836.26 in the previous period[38]. Changes in Financial Position - The total amount of trading financial assets increased by 23,266,892.59 yuan, a growth of 102.22% compared to the beginning of the period[13]. - The lease liabilities increased by 31,798,683.35 yuan, a significant rise of 1552.94% compared to the beginning of the period[13]. - The cash flow impact from exchange rate changes increased by 619,813.85 yuan, a rise of 1485.01% compared to the same period last year[14].

Financial Performance - The company achieved a revenue of 1.251 billion CNY in 2021, representing a year-on-year growth of 20.32%[4] - The net profit attributable to the parent company was 113 million CNY, reflecting strong operational performance despite external challenges[4] - Revenue from the automotive electronics sector reached 395 million CNY, marking a significant year-on-year increase of 59.95%[4] - The company reported a gross margin of 35% for 2021, indicating strong operational efficiency[25] - The company's operating revenue for 2021 was CNY 1,251,827,686.86, representing a 20.32% increase compared to CNY 1,040,387,534.88 in 2020[40] - The net profit attributable to shareholders for 2021 was CNY 113,399,452.02, a decrease of 10.87% from CNY 127,230,835.37 in 2020[40] - The net cash flow from operating activities for 2021 was CNY 224,769,352.87, down 21.25% from CNY 285,412,478.56 in 2020[40] - The total assets at the end of 2021 were CNY 1,433,687,739.50, an increase of 13.42% from CNY 1,264,029,860.68 at the end of 2020[40] - The basic earnings per share for 2021 was CNY 0.38, a decrease of 11.63% compared to CNY 0.43 in 2020[40] Strategic Initiatives - The company plans to accelerate the construction of new production capacities, including a new factory in Dongguan and a production line capable of producing 1.26 million automotive battery components and 13 million 5G smart terminal parts annually[7] - The company is focusing on five growth strategies, including deepening relationships with major clients and enhancing R&D capabilities to drive innovation[7] - The company aims to leverage capital investments and acquisitions in the new energy vehicle and smart terminal sectors to drive growth in 2022[7] - The company emphasizes a commitment to high-quality development with a focus on "zero defects" and the establishment of smart, digital, and green factories[8] - The company is committed to a dual circulation strategy, enhancing market, R&D, service, and production capacity layouts to achieve stable and orderly growth[7] Research and Development - The company invested 4.52% of its revenue in R&D, with a team of 270 R&D personnel and 104 patents[81] - The company’s R&D investment reached ¥56.64 million, accounting for 4.52% of total revenue, emphasizing the importance of innovation in enhancing competitiveness[91] - Major R&D projects completed include the development of energy distribution systems and high-pressure waterproof connectors for electric vehicles, aimed at increasing market sales[108] - The number of R&D personnel rose by 4.25% to 270, with R&D personnel accounting for 10.00% of the total workforce[111] Market Expansion - Xingsui Technology aims to expand its market presence in Southeast Asia, targeting a 30% increase in sales from this region by 2023[28] - The company has established long-term partnerships with leading manufacturers in the smart terminal sector, enhancing its market position[71] - The company aims to expand into the smart terminal and new energy vehicle sectors, providing customized system solutions for high-end clients[185] - The company intends to leverage its existing partnerships with smart terminal OEMs to enter the supply chain of large OEMs in Southeast Asia[186] Investment and Financial Management - A cash dividend of 1.80 CNY per 10 shares (including tax) is proposed for shareholders, based on a total of 297,379,500 shares[14] - The company reported a total investment of 8,835.40 million CNY in its projects, with 58.16% funded by raised capital and self-owned funds[130] - The company’s total investment during the reporting period was 163.77 million yuan, an increase of 75.35% compared to the previous year[127] - The company has committed to investment projects totaling RMB 39,739.65 million, with RMB 10,439.07 million invested in the reporting period and a cumulative investment of RMB 29,889.56 million[158] Operational Challenges - The company faces risks from global macroeconomic conditions, including potential slowdowns in downstream industries affecting product demand, and will closely monitor economic trends to adjust strategies accordingly[195] - Ongoing COVID-19 pandemic risks may impact production and business expansion, particularly in factories located in Vietnam and Indonesia, prompting the company to adopt various preventive measures[196] - Currency fluctuation risks are significant, with approximately 74% of sales revenue in 2021 being settled in foreign currencies, leading the company to implement hedging strategies[197] - Commodity price volatility poses risks to the company's operating performance, and the company plans to enhance procurement strategies and inventory management to mitigate these effects[198] Production and Efficiency - The company has implemented lean production strategies, which are projected to reduce operational costs by 10%[28] - The company will implement a "smart factory" and lean production management system to enhance production efficiency and improve profitability[193] - The company has established a closed-loop system for data management, enhancing operational efficiency and smart manufacturing processes[91] Subsidiaries and Regional Performance - Dongguan ZTE Rui Electronic Technology Co., Ltd. reported total assets of RMB 258.21 million and net profit of RMB 21.18 million for 2021[174] - Suzhou ZTE Lian Precision Industry Co., Ltd. achieved total revenue of RMB 238.19 million and net profit of RMB 22.22 million in 2021[176] - The company reported that its subsidiary PT Sunrise Technology Batam achieved sales of RMB 55.44 million and net profit of RMB 10.79 million in 2021[181] - The total assets of Xingsui Technology (Vietnam) Co., Ltd. were RMB 15.24 million, with a net profit of RMB 0.83 million in 2021[180]

Revenue and Profitability - Revenue for Q3 2021 reached ¥317,426,724.20, an increase of 14.20% year-over-year, while year-to-date revenue was ¥901,090,035.00, up 22.16% compared to the same period last year[4] - Net profit attributable to shareholders for Q3 2021 was ¥26,023,980.15, a decrease of 26.12% year-over-year, with year-to-date net profit at ¥88,923,741.78, down 4.45%[4] - The basic earnings per share for Q3 2021 was ¥0.09, reflecting a decline of 25.00% compared to the same period last year, while year-to-date earnings per share was ¥0.30, down 6.25%[4] - The company reported a net profit margin improvement, with net profit for the period not explicitly stated but inferred from revenue growth and cost management strategies[32] - The net profit for the current period is CNY 88,929,724.74, a decrease of 4.1% compared to CNY 93,068,123.18 in the previous period[35] - Operating profit for the current period is CNY 96,329,696.59, down from CNY 105,362,490.20, reflecting a decline of 8.8%[35] - Basic and diluted earnings per share for the current period are both CNY 0.30, down from CNY 0.32 in the previous period[39] Assets and Liabilities - Total assets as of the end of Q3 2021 amounted to ¥1,338,507,667.47, representing a 5.89% increase from the end of the previous year[4] - Total assets reached ¥1,338,507,667.47, compared to ¥1,264,029,860.68, indicating an increase of approximately 5.9%[28] - Total liabilities increased to ¥304,531,217.49 from ¥261,908,106.40, reflecting a rise of about 16.2%[31] - Total liabilities increased to $272.57 million, up by $10.66 million from $261.91 million[53] - The company reported a total equity of $1.00 billion, remaining unchanged from the previous period[53] Cash Flow and Investments - The net cash flow from operating activities for the year-to-date period was ¥113,674,805.96, an increase of 18.97% compared to the same period last year[4] - Cash flow from operating activities netted CNY 113,674,805.96, an increase of 19% from CNY 95,550,020.93 in the previous period[40] - Cash and cash equivalents decreased by 50.25% to ¥245,307,848.94 from ¥493,066,998.50[12] - Cash and cash equivalents at the end of the period were $212.49 million, down from $232.24 million in the previous period, reflecting a net decrease of $133.01 million[46] - Cash outflow from investment activities totaled CNY 584,516,262.18, compared to CNY 297,015,724.94 in the previous period, indicating a significant increase in investment spending[40] - Investment income surged by 350.85% year-over-year, indicating a significant improvement in investment performance[8] - Investment activities generated a net cash flow decrease of 141.87%, amounting to -¥207,347,006.87[17] Expenses and Costs - Total operating costs amounted to ¥810,355,442, up from ¥631,018,025, indicating a rise of about 28.5% year-over-year[32] - Management expenses increased by 37.20% year-over-year, primarily due to rising labor costs and stock incentive costs[8] - The company experienced a 34.34% reduction in income tax expenses, attributed to a decrease in taxable income and increased R&D expense deductions[11] - Research and development expenses increased to CNY 40,925,917.38 from CNY 35,636,262.56, representing a growth of 14.4%[35] Shareholder Information - Shareholders' equity attributable to the parent company was ¥1,033,947,842.02, up 3.18% from the end of the previous year[4] - The number of ordinary shareholders at the end of the reporting period was 16,780[18] - The largest shareholder, Ningbo Zheqi Investment Management Co., Ltd., holds 24.29% of the shares[18] Other Financial Metrics - Non-recurring gains and losses totaled ¥2,373,109.88 for Q3 2021, with year-to-date non-recurring gains and losses at ¥7,635,024.57[7] - The company reported a total comprehensive income of CNY 89,724,158.38, slightly down from CNY 89,754,139.77 in the previous period[39] - The company has implemented a new leasing standard starting from 2021, affecting the financial statements[47] - The company has not undergone an audit for the third quarter report, which may affect the reliability of the financial data presented[56] - The company’s long-term liabilities increased significantly due to the new leasing standard, reflecting a shift in financial obligations[53]

Financial Performance - The company reported a total revenue of 1.2 billion RMB for the first half of 2021, representing a year-on-year increase of 15%[21] - The net profit attributable to shareholders was 150 million RMB, up 20% compared to the same period last year[21] - The company's operating revenue for the reporting period was ¥583,663,310.80, representing a 26.96% increase compared to ¥459,707,655.44 in the same period last year[35] - The net profit attributable to shareholders of the listed company was ¥62,902,991.35, an increase of 8.75% from ¥57,842,652.72 in the previous year[35] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥57,641,076.66, reflecting a 1.89% increase from ¥56,570,091.32 in the same period last year[35] - The company achieved a revenue of RMB 583.66 million in the first half of 2021, representing a year-on-year growth of 26.96%[64] - The net profit attributable to shareholders increased by 8.75% year-on-year, reaching RMB 629.03 million[64] - The automotive electronics and new energy vehicle business saw a significant revenue increase of 97.26%, totaling RMB 183 million[64] Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by the end of 2022[21] - The company is exploring potential mergers and acquisitions to enhance its supply chain efficiency and product offerings[21] - The company has established long-term strategic partnerships with major clients in various sectors, including Commscope and Panasonic, enhancing its market position[53] - The company maintains a direct sales model and emphasizes strategic partnerships to enhance its growth potential in the global market[52] - The company plans to continue improving its R&D capabilities and deepen collaborations with high-quality clients in the new energy and smart home sectors[53] Research and Development - The company has allocated 100 million RMB for R&D in new technologies, focusing on sustainable energy solutions[21] - Research and development investment amounted to RMB 25.77 million, accounting for 4.42% of total revenue[67] - The company has 261 R&D personnel and holds 17 invention patents and 73 utility model and design patents[58] - The company is investing in a production line for 5G smart terminal components with an annual capacity of 13 million sets, enhancing its presence in the smart home sector[49] Risk Management - Risk management strategies have been implemented to address supply chain disruptions, with a focus on diversifying suppliers[21] - The company is actively managing risks related to global economic fluctuations, including supply chain disruptions and rising shipping costs due to the pandemic[120] - The company has established a comprehensive hedging management system to mitigate operational risks associated with foreign exchange fluctuations[105] Environmental and Social Responsibility - The company invested approximately 1.4732 million CNY in environmental protection measures, achieving a 100% compliance rate for emissions during the reporting period[140] - The company has implemented a wastewater treatment system where 60% of wastewater is reused after deep treatment, and 40% is discharged after meeting standards[143] - The company has established a solid waste warehouse of 50 square meters for proper disposal of solid waste[143] - The company has a comprehensive emergency response plan for environmental pollution incidents, ensuring efficient handling of such events[143] Shareholder Engagement and Corporate Governance - The company held several shareholder meetings with participation rates of 69.19% and 67.84%, indicating strong investor engagement[128] - The company plans not to distribute cash dividends or issue bonus shares for the semi-annual period[129] - The first phase of the company's equity incentive plan involves granting up to 3.6 million restricted shares at a price of 7 CNY per share, with 3.1265 million shares granted to 106 participants[132][133] International Operations - The company reported a total revenue of approximately $195.94 million, with a net profit of around $11.39 million, reflecting a significant increase in performance compared to previous periods[112] - The revenue from the subsidiary in Vietnam reached approximately $140.32 million, with a net profit of about $2.11 million, indicating strong export capabilities[112] - The company has expanded its market presence in Indonesia, with a reported revenue of approximately $47.02 million from its subsidiary there, contributing to overall growth[115] - The company's overseas factories, particularly in Vietnam and Indonesia, contributed to sales of ¥1,688.62 million and ¥2,660 million respectively in the first half of 2021, enhancing production capacity[68] Financial Stability - The company maintains a low asset-liability ratio of 20.36%, indicating strong financial stability[62] - The company reported a net cash flow from operating activities of ¥50,178,921.79, which is a 2.04% increase compared to ¥49,174,634.80 in the previous year[35] - The company's cash and cash equivalents decreased by 9.29% to ¥374,181,710.80, representing 29.72% of total assets[79] Investment and Capital Expenditure - The total investment amount for the reporting period was ¥43,506,043.13, representing a 5.12% increase compared to ¥41,387,092.83 in the same period last year[91] - The company invested ¥15,371,821.65 in the annual production project of 10 million sets of RFTUNER and related components, with a cumulative actual investment of ¥97,174,396.24, achieving 70.62% of the expected return of ¥38,141,200.00[91] - The investment in the expansion project for precision electronic components for new energy vehicles amounted to ¥19,501,135.52, with a cumulative actual investment of ¥38,337,229.38, achieving 54.77% of the expected return of ¥30,930,900.00[91]

Financial Performance - The company's operating revenue for Q1 2021 was ¥312,276,774.72, representing a 47.81% increase compared to ¥211,273,245.87 in the same period last year[8]. - Net profit attributable to shareholders for Q1 2021 was ¥37,344,717.39, up 51.82% from ¥24,597,801.11 in the previous year[8]. - The net profit after deducting non-recurring gains and losses was ¥37,614,056.20, reflecting a 68.06% increase from ¥22,381,302.92 year-on-year[8]. - Basic earnings per share for Q1 2021 were ¥0.13, an increase of 62.50% from ¥0.08 in the previous year[8]. - The company's revenue for Q1 2021 was approximately $312.28 million, representing a 47.81% increase compared to Q1 2020's revenue of $211.27 million[19]. - The company reported a significant increase in other income, which rose by 1478.32% to approximately $209,162 in Q1 2021, compared to $13,252 in Q1 2020[19]. - The total profit for the current period was ¥41,808,489.66, compared to ¥28,204,039.86 in the previous period, representing an increase of about 48.1%[83]. Cash Flow - The net cash flow from operating activities was ¥18,428,182.05, a significant improvement of 219.98% compared to a negative cash flow of -¥15,359,650.40 in the same period last year[8]. - The net cash flow from operating activities for Q1 2021 was approximately $18.43 million, a significant increase of 219.98% compared to a negative cash flow of $15.36 million in Q1 2020[24][25]. - The cash outflow for investing activities was CNY 76,498,221.58, compared to CNY 174,614,109.35 in the previous year, indicating a reduction in investment spending[97]. - The net cash flow from investing activities was -22,865,953.56 CNY, a decrease compared to -80,276,015.15 CNY in the previous period[101]. - The total cash inflow from financing activities was 21,885,500.00 CNY, while the cash outflow was 12,679,609.21 CNY, resulting in a net cash flow of 9,205,890.79 CNY[101]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,301,779,804.85, a 2.99% increase from ¥1,264,029,860.68 at the end of the previous year[8]. - Current liabilities rose to CNY 271,801,621.88, compared to CNY 261,548,602.41, indicating an increase of approximately 4.8%[72]. - Total liabilities amounted to CNY 272,186,661.74, up from CNY 261,908,106.40, marking a growth of around 3.5%[72]. - The company’s long-term equity investments rose to CNY 407,576,542.25 from CNY 390,044,199.05, indicating an increase of approximately 4.5%[76]. - The company's current assets totaled RMB 936.15 million, an increase from RMB 915.34 million at the end of 2020[68]. Shareholder Information - The company had a total of 16,552 common shareholders at the end of the reporting period[13]. - The largest shareholder, Ningbo Zheqi Investment Management Co., Ltd., held 24.29% of the shares, with a total of 72,259,670 shares[13]. - The company approved the 2021 employee stock ownership plan, allowing for the repurchase of up to 1,000,020 shares, representing 0.34% of the total share capital[34]. - The total amount allocated for the share repurchase plan is between RMB 12.20 million and RMB 22.80 million, with a repurchase price range of RMB 12.20 to RMB 19.00 per share[34]. Subsidiaries and Expansion - The company established a subsidiary in Indonesia with a registered capital of approximately $3.5 million to enhance market presence and service overseas clients[26]. - A new wholly-owned subsidiary was set up in Shanghai with a registered capital of approximately $280,000 to improve the sales and procurement system[27]. - The company established a wholly-owned subsidiary in Indonesia as part of its expansion strategy[34]. - The company also set up a wholly-owned subsidiary in Shanghai, furthering its market expansion efforts[34]. Risk Management and Compliance - The company has established a comprehensive hedging management system to mitigate risks associated with foreign exchange fluctuations[51]. - The company’s risk control measures include a clear disclosure system for derivative investments[51]. - The company has not experienced significant changes in its accounting policies for derivatives compared to the previous reporting period[51]. - The company has no overdue commitments from actual controllers, shareholders, or related parties during the reporting period[43]. - There are no violations regarding external guarantees reported during the period[58]. Research and Development - Research and development expenses were reported at ¥12,758,619.80, an increase from ¥11,426,586.86, showing a growth of approximately 11.6%[81].

Financial Performance - In 2020, the company achieved a revenue of CNY 1.04 billion, representing a year-on-year growth of 1.65%[9] - The net profit attributable to shareholders was CNY 127 million, a decrease of 7.98% compared to the previous year, while the net profit after deducting non-recurring gains and losses was CNY 120 million, an increase of 0.77%[9] - The company reported steady growth in key performance indicators such as revenue per employee, profit per employee, and employee compensation[9] - The company reported a revenue of 2.5 billion CNY for the fiscal year 2020, representing a year-over-year growth of 15%[19] - The total assets of the company reached 1.8 billion CNY, with a net profit margin of 10%[19] - The company reported a net cash flow from operating activities of ¥2.85 billion for the year, a decrease of ¥742.16 million compared to the previous year[25] - The company achieved an operating income of CNY 186,801,435.81 in 2020, representing a year-on-year decline of 14.73%, while net profit was CNY 15,246,790.74, an increase of 0.77% year-on-year[117] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 1.8 per 10 shares, totaling CNY 35.33 million for the year[4] - The company distributed a cash dividend of 1.80 CNY per 10 shares for the fiscal year 2020, totaling 53,374,766 CNY, which represents 41.95% of the net profit attributable to ordinary shareholders[141] - The cash dividend for 2019 was 1.20 CNY per 10 shares, amounting to 35,328,000 CNY, which accounted for 25.55% of the net profit attributable to ordinary shareholders[141] - The total distributable profit for 2020 was 160,035,155.30 CNY, with the cash dividend representing 33.35% of this total[144] Research and Development - The company has increased its R&D investment, particularly in the new energy vehicle electronics field, transitioning from components to module development[9] - The R&D budget for 2021 is set at 200 million CNY, focusing on advanced battery management systems and 5G technology integration[19] - R&D investment accounted for 4.64% of operating revenue, with 259 R&D personnel and 89 patents held by the company as of December 31, 2020[48] - The company will increase R&D investment in precision components for smart terminals and new energy vehicles, focusing on the development of electronic chip technology[128] Market Expansion and Strategic Initiatives - The company is focusing on deep development of major clients in the smart home terminal and new energy vehicle electronics sectors, with a strategic expansion into Southeast Asia manufacturing bases in Indonesia and Vietnam[9] - The company plans to expand its market presence in Southeast Asia, targeting a 20% increase in market share by 2023[19] - The company aims to achieve a revenue target of 3 billion CNY for 2021, reflecting a growth rate of 20%[19] - The company plans to establish new factories in Dongguan and Cixi to support the growing capacity needs for new energy vehicle electronics and smart home terminal product lines[126] Operational Efficiency and Cost Management - The implementation of the "Intelligent Factory" project in the Ningbo plant has led to significant improvements in operational efficiency, inventory management, and cost control[9] - The company has implemented lean manufacturing practices, resulting in a 10% reduction in production costs[19] - The company has adjusted its production capacity and cost control measures in response to the impacts of the pandemic and trade disputes[117] Environmental and Social Responsibility - The company emphasizes ESG management and has implemented the ISO14001 environmental management system to promote green practices[11] - The company reported an environmental investment of approximately 3.8571 million yuan, primarily for wastewater and waste gas treatment, solid waste disposal, and maintenance of environmental protection equipment, achieving a 100% compliance rate for emissions during the reporting period[195] - The company is committed to fulfilling its social responsibilities, including poverty alleviation and environmental protection initiatives[191] Strategic Partnerships and Collaborations - The company has established partnerships with three major automotive manufacturers to supply electronic components, aiming for a 30% increase in B2B sales[19] - The company has established long-term strategic partnerships with major clients in various sectors, including Commscope and Foxconn in the smart home segment[33] - The company has established strategic partnerships with leading clients in the automotive electronics and new energy vehicle sectors, including Panasonic and Bosch, enhancing its position in the supply chain[55] Future Outlook and Growth Strategy - The company aims to leverage its technological advantages in precision components to expand its applications in the smart home sector[36] - The company plans to maintain a certain level of inventory as production scales up in overseas bases following the recovery from the pandemic[68] - The company recognizes risks from global macroeconomic fluctuations, with over 60% of its sales revenue derived from exports, primarily settled in USD[131] - The company will actively manage raw material price fluctuations through centralized procurement and long-term supplier agreements[132]

Financial Performance - Net profit attributable to shareholders was ¥35,225,470.46, reflecting a 1.41% increase year-on-year[8] - Operating income for the period was ¥277,946,301.61, representing a 7.51% increase compared to the previous quarter[8] - The company experienced a year-to-date revenue decline of 3.43%, totaling ¥737,653,957.05[8] - The net profit attributable to shareholders for the year-to-date period was ¥93,068,123.18, down 11.35% year-on-year[8] - The company's net profit for the third quarter of 2020 was CNY 57.74 million, a decrease from CNY 68.12 million in the same period of 2019, reflecting a decline of about 15.2%[55] - The net profit for Q3 2020 was CNY 35,225,470.46, slightly higher than CNY 34,736,648.72 in Q3 2019, indicating a growth of 1.4%[63] - The net profit attributable to the parent company was CNY 93,068,123.18, down from CNY 104,987,114.04 in the same period last year, reflecting a decrease of about 11.4%[76] - The total profit for the period was CNY 68,757,149.17, compared to CNY 90,745,469.79 in the previous year, indicating a decrease of approximately 24.2%[79] Cash Flow - Net cash flow from operating activities decreased by 56.28% year-on-year to ¥46,375,386.13, primarily due to changes in structured deposits and a decline in sales[8] - Net cash flow from operating activities decreased by 56.28% to 95,550,020.93 RMB, attributed to changes in structured deposits and a decline in sales[25] - The net cash flow from operating activities for Q3 2020 was ¥95,550,020.93, a decrease of 56.3% compared to ¥218,525,690.82 in Q3 2019[84] - Total cash inflow from operating activities was ¥1,529,098,620.94, an increase of 7.4% from ¥1,423,666,539.04 in the previous year[88] - Cash outflow for operating activities totaled ¥1,433,477,609.61, up from ¥1,223,556,229.95, indicating a 17.1% increase[90] - The net cash flow from investment activities was -¥85,726,279.91, an improvement from -¥112,754,992.76 in the same period last year[84] - Cash inflow from investment activities was ¥211,289,445.03, compared to ¥117,973,003.71 in Q3 2019, marking an increase of 79.1%[84] - Cash outflow for investment activities was ¥297,015,724.94, up from ¥230,727,996.47, reflecting a 28.7% increase[84] - The net cash flow from financing activities was -¥35,342,065.48, compared to -¥55,332,252.26 in the previous year, showing a 36.2% improvement[86] Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,196,477,661.19, an increase of 4.11% compared to the end of the previous year[8] - Total assets as of September 30, 2020, were CNY 1.196 billion, compared to CNY 1.149 billion at the end of 2019, representing a growth of approximately 4.1%[55] - The total liabilities decreased to CNY 221.20 million from CNY 228.38 million, indicating a reduction of about 3.5%[53] - The total liabilities amounted to CNY 217,020,901.79, compared to CNY 182,627,989.73 in the previous year, marking an increase of 18.8%[59] - Total current assets amounted to CNY 852.26 million, an increase from CNY 829.15 million at the end of 2019[49] Shareholder Information - The top ten shareholders held a combined 75.85% of the company's shares, with the largest shareholder owning 24.54%[11] - Basic earnings per share were ¥0.1197, a decrease of 11.36% compared to the same period last year[8] - Basic and diluted earnings per share were both ¥0.1197, compared to ¥0.1180 in the previous period, indicating a slight increase[65] - The basic and diluted earnings per share were both CNY 0.3161, compared to CNY 0.3566 in the previous year, indicating a decline of approximately 11.3%[76] Investment and Development - The company plans to expand its market presence and invest in new product development to drive future growth[45] - The company plans to expand its market presence and invest in new product development in the upcoming quarters[68] - Research and development expenses for Q3 2020 were CNY 11,827,778.97, a decrease of 19.0% from CNY 14,688,682.82 in the same quarter last year[61] - Research and development expenses amounted to CNY 18,759,896.80, a decrease from CNY 21,253,681.84 in the previous year, representing a reduction of approximately 11.7%[76] Financial Management - Financial expenses decreased by 87.83% to -2,021,269.80 RMB compared to the same period last year[19] - The company reported a financial expense of CNY 7,047,086.04, compared to a financial income of CNY 10,032,616.40 in the previous year, indicating a significant shift in financial performance[61] - The company reported a decrease in financial expenses, with a net financial income of CNY 1,736,338.95, compared to a loss of CNY 14,274,624.58 in the previous year[76] Other Income - The company reported a net profit of ¥2,296,620.75 from government subsidies closely related to business operations[10] - Other income decreased by 85.35% to 2,185,552.35 RMB, primarily due to a reduction in government subsidies received[19] - Investment income increased significantly by 521.86% to 1,917,444.65 RMB, reversing a loss from the previous year[19] - The investment income for the current period was ¥917,618.56, compared to a loss of ¥201,830.68 in the previous period, showing a positive turnaround[66]