鸿合科技股份有限公司 2022 年第三季度报告 证券代码：002955 证券简称：鸿合科技 公告编号：2022-079 鸿合科技股份有限公司 2022 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报 告中财务信息的真实、准确、完整。 3.第三季度报告是否经过审计 □是 否 1 鸿合科技股份有限公司 2022 年第三季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | --- | |------------------------------------------------------|------------------|---------------------------|------------ ...

Financial Performance - The company's operating revenue for the first half of 2022 was approximately ¥2.14 billion, a slight increase of 0.66% compared to the same period last year[27]. - Net profit attributable to shareholders reached ¥122.18 million, representing a significant increase of 366.88% year-on-year[27]. - The net profit after deducting non-recurring gains and losses was ¥99.93 million, up 562.65% from the previous year[27]. - Basic earnings per share increased to ¥0.52, a rise of 372.73% compared to ¥0.11 in the same period last year[27]. - The total assets of the company at the end of the reporting period were approximately ¥4.80 billion, reflecting a 1.97% increase from the end of the previous year[27]. - The net assets attributable to shareholders were approximately ¥3.30 billion, up 5.17% from the previous year[27]. - The company reported a net cash flow from operating activities of -¥190.52 million, an improvement of 46.86% compared to -¥358.56 million in the same period last year[27]. - The weighted average return on net assets was 3.79%, an increase of 2.93% compared to the previous year[27]. - The company's total revenue for the reporting period was ¥2,140,203,434.79, representing a year-on-year increase of 0.66% compared to ¥2,126,266,914.86[89]. - The company's operating costs decreased by 6.56% to ¥1,561,005,821.57, primarily due to a decline in raw material prices[89]. - Sales expenses increased by 12.67% to ¥216,702,802.94, attributed to increased market promotion costs as the pandemic situation improved[89]. - Research and development expenses rose by 21.81% to ¥105,673,560.71, reflecting increased investment in R&D during the period[89]. Business Strategy and Development - The company focuses on providing educational information technology products and smart education solutions, aiming to serve millions of teachers and students[39]. - The company has developed a range of smart education hardware products, including interactive flat panels and smart blackboards, enhancing the teaching experience[40]. - The "Hong U" interactive teaching system is designed to simplify teaching processes and improve efficiency, catering to various educational stages[44]. - The company launched the "Honghe Three-Point Companion" service, integrating equipment interconnection and data sharing for after-school services[49]. - The company emphasizes the development of software solutions, such as the Honghe Cloud platform and interactive recording software, to support remote teaching[45]. - The company’s smart classroom solutions aim to create a seamless teaching experience, breaking traditional teaching models and enhancing student engagement[46]. - The company has developed over 400 quality courses in its "Honghe Three Points Companion" program, aimed at K9 students, to meet diverse educational needs[56]. - The company has established a smart solutions business group to integrate resources and focus on the digital transformation of higher education institutions[70]. - The company is actively responding to national digital education strategies, focusing on integrating interactive technology, cloud computing, and AI into education[55]. - The company has developed a comprehensive "platform + curriculum + operation" solution for after-school services, gaining high market recognition[68]. Market Expansion and International Business - The company's overseas business achieved revenue of 1.465 billion yuan in the first half of 2022, representing a year-on-year growth of approximately 47.14%[73]. - The company reported a significant increase in overseas revenue, which accounted for 68.45% of total revenue, up from 46.82% in the previous year, indicating a growth of 47.14%[90]. - The company has significant overseas assets, with the largest being in the United States at approximately ¥636.58 million, accounting for 19.04% of the company's net assets[100]. Risk Management and Compliance - Future risks and countermeasures are detailed in the management discussion section, highlighting the company's proactive approach to potential challenges[5]. - The company has established a risk management framework to address potential risks associated with overseas operations and market fluctuations[146]. - The company faces risks related to national education policy changes, which could impact its business operations and performance[139]. - The company has implemented measures to comply with environmental laws and regulations, with no major environmental incidents reported[166]. - The company has established internal control systems for foreign exchange derivative trading to mitigate operational and legal risks[120]. Employee and Shareholder Engagement - The company is focused on enhancing its employee incentive programs, including stock options and restricted stock plans, to align employee interests with company performance[160]. - The company provides comprehensive employee benefits, including "five insurances" and commercial insurance, while actively engaging in employee welfare activities[170]. - The company emphasizes the protection of investor rights, ensuring compliance with laws and regulations, and enhancing communication with investors through various channels[167]. - The actual controller and shareholders have fulfilled their commitments regarding share transfer restrictions for 36 months post-IPO, which ended on May 23, 2022[179]. Investment and Financial Management - The total amount of funds raised by the company through its initial public offering was RMB 169,158.38 million, with RMB 125,640.64 million already utilized by June 30, 2022[121]. - The company has invested RMB 8,313.85 million in the interactive display project, achieving a cumulative investment of RMB 70,399.11 million, which represents 79.41% of the total committed investment of RMB 88,650.00 million[122]. - The company reported an investment income of approximately ¥6.98 million, contributing 4.46% to total profit, but is not considered sustainable[95]. - The company has not engaged in speculative trading activities, focusing instead on risk management and operational needs[120]. - The company has committed to stabilizing its stock price if the closing price falls below the latest audited net asset value per share for 20 consecutive trading days within three years of its A-share listing[182]. Corporate Governance - The company has adjusted its capital structure and revised its articles of association as part of its ongoing governance improvements[159]. - The company has maintained transparency regarding its commitments and their fulfillment status, enhancing corporate governance[179]. - The commitments made by the company and its shareholders are aimed at maintaining investor confidence and ensuring market stability[182]. Legal Matters - The company has initiated arbitration against Mao Xing for the return of a deposit of RMB 5 million, along with interest and legal fees, totaling RMB 5,466,797.6[200]. - The arbitration ruling requires Mao Xing to return the investment deposit and cooperate with the company in handling equity pledge procedures[200]. - The company has applied for enforcement of the arbitration ruling in Wuxi Intermediate Court, which has accepted the case[200].

Financial Performance - The company reported a total revenue of RMB 1.5 billion for the year 2021, representing a year-on-year increase of 20%[22] - The net profit attributable to shareholders was RMB 300 million, an increase of 15% compared to the previous year[22] - The company's operating revenue for 2021 was ¥5,811,414,894.16, representing a 45.52% increase compared to ¥3,993,644,812.01 in 2020[29] - The net profit attributable to shareholders for 2021 was ¥168,960,513.99, a significant increase of 106.90% from ¥81,663,270.72 in 2020[29] - The net profit attributable to shareholders after deducting non-recurring gains and losses reached ¥131,896,678.37, marking a 565.64% increase from ¥19,815,059.11 in 2020[29] - The net cash flow from operating activities for 2021 was ¥220,424,080.47, up 51.35% from ¥145,634,352.38 in 2020[29] - The basic and diluted earnings per share for 2021 were both ¥0.72, reflecting a 105.71% increase from ¥0.35 in 2020[29] - The total assets at the end of 2021 amounted to ¥4,711,430,415.18, which is a 13.84% increase from ¥4,138,586,353.41 at the end of 2020[29] - The company's weighted average return on equity for 2021 was 5.47%, an increase from 2.76% in 2020[29] - The total operating revenue for 2021 reached ¥5,811,414,894.16, representing a year-on-year increase of 45.52% compared to ¥3,993,644,812.01 in 2020[101] - The education segment generated ¥5,116,182,315.54, accounting for 88.04% of total revenue, with a year-on-year growth of 48.39%[101] - The company's overseas business revenue reached 2.538 billion yuan in 2021, representing a year-on-year growth of approximately 91.15%[89] Market Expansion and Strategy - Future guidance indicates expected revenue growth of 15-20% for 2022, driven by market expansion and new product launches[22] - The company aims to expand its market presence in Southeast Asia, with a target of entering three new countries by the end of 2022[22] - The company is exploring potential acquisitions to enhance its market position and expand its product offerings[22] - The company is actively expanding its market presence in smart office and commercial sectors, diversifying its business beyond education[54] - The company has expanded its presence in North America, EMEA, and APAC regions, establishing local operational teams to cater to market demands[72] Research and Development - The company plans to invest RMB 200 million in R&D for new product development in 2022, focusing on smart education technologies[22] - The company has established a comprehensive R&D system with centers in Beijing, Baoding, and Shenzhen, focusing on advanced technology applications in educational information[83] - The company launched several new products, including an antibacterial touch glass and a comprehensive after-school service platform, enhancing user experience and market competitiveness[118] - The company will continuously improve in technology R&D, product and service innovation, business scale, management, and marketing to maintain competitive advantages in the smart interactive display market amid increasing industry competition[197] - The company has established an efficient and rapid R&D system to innovate products and services based on customer needs, addressing risks associated with rapid technological updates in the smart interactive display industry[198] - The company will strengthen supply chain management to mitigate the impact of raw material price fluctuations while maintaining product quality through continuous innovation and R&D investment[199] Product Development and Innovation - A new product line is set to launch in Q3 2022, targeting the corporate training sector[22] - The introduction of new educational hardware products, such as smart interactive panels and connected blackboards, aims to enhance classroom experiences and teaching efficiency[55] - The "Honghe π6" interactive teaching software integrates various educational tools to streamline lesson preparation and enhance teaching effectiveness[59] - The company has made significant progress in developing a new generation of smart interactive panels, aiming to enhance product competitiveness and expand market share[118] - The company has integrated high-quality audio-visual technology and AI capabilities into its products, enhancing user experience and operational efficiency[70] Risk Management - The management highlighted potential risks in the market, including increased competition and supply chain disruptions[6] - The company faces risks related to overseas operations, including compliance with local laws and potential trade frictions, political instability, and changes in foreign investment policies in regions like North America, Europe, Asia-Pacific, and India[200] - The company will enhance risk management for overseas subsidiaries and investments, focusing on preemptive risk warnings, monitoring, and post-event risk management[200] - A dedicated intellectual property management department has been established to strengthen risk control and management of intellectual property both domestically and internationally[200] - The company is actively working on global intellectual property protection to reduce various operational risks abroad[200] Human Resources and Training - The company has developed a comprehensive training program with 1,199 courses aimed at enhancing the information technology capabilities of educators and administrators[77] - The company organized over 50 training sessions for teachers, training more than 44,000 teachers from over 17,000 schools in 2021[94] - The company emphasized talent development through programs like "Hongshan Plan" and "Hongyan Plan," enhancing its human resource capabilities[84] Financial Management and Investments - The cash and cash equivalents net increase was -¥120,789,738.13, indicating a significant decrease of 136.10% compared to the previous year[126] - The company reported an asset impairment of -¥45.37 million, which accounted for -19.75% of total profit, attributed to inventory write-downs[131] - The total amount of foreign exchange derivatives held at the end of the reporting period was 6,341.1 million CNY, representing 2.02% of the company's net assets[148] - The company has established internal control systems for foreign exchange derivative transactions to mitigate risks, including market, liquidity, credit, and operational risks[150] - The company has not experienced any significant changes in accounting policies or principles regarding derivatives compared to the previous reporting period[151]

鸿合科技股份有限公司 2022 年第一季度报告全文 1 证券代码：002955 证券简称：鸿合科技 公告编号：2022-030 鸿合科技股份有限公司 2022 年第一季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准 确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带 的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声 明：保证季度报告中财务信息的真实、准确、完整。 3.第一季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 | --- | --- | --- | --- | |-----------------------------------------------------|------------------|------------------|---------------------------| | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | 营业收入（ ...

Financial Performance - The company's operating revenue for Q3 2021 reached ¥2,101,147,527.10, representing a 42.59% increase compared to the same period last year[3]. - Net profit attributable to shareholders was ¥112,896,971.99, up 25.43% year-on-year, while the net profit after deducting non-recurring gains and losses was ¥99,756,298.11, an increase of 18.80%[3]. - Total operating revenue for the current period reached ¥4,227,414,441.96, a significant increase from ¥2,617,867,545.58 in the previous period, representing a growth of approximately 61.5%[27]. - Net profit for the current period was ¥157,244,226.59, compared to ¥66,661,360.21 in the previous period, reflecting a growth of approximately 135.5%[30]. - The net profit attributable to the parent company was ¥139,065,950.36, an increase from ¥57,316,536.95, marking a growth of around 143.5%[33]. - Earnings per share (EPS) for the current period was ¥0.59, compared to ¥0.24 in the previous period, representing an increase of approximately 145.8%[33]. - The total comprehensive income for the current period was ¥152,793,688.96, compared to ¥62,365,178.96 in the previous period, indicating a growth of approximately 144.5%[33]. Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥4,852,022,774.66, reflecting a 17.24% increase from the end of the previous year[3]. - Total liabilities increased to ¥1,658,022,780.42 from ¥1,101,829,503.27, showing a growth of about 50.5%[25]. - Total current assets as of September 30, 2021, amount to RMB 3,774,091,422.48, an increase from RMB 3,413,772,913.10 as of December 31, 2020[18]. - Total liabilities increased to RMB 1,553,476,388.72 from RMB 1,014,629,244.27 year-over-year[21]. - The company reported a significant increase in contract liabilities to RMB 94,384,483.77 from RMB 30,504,173.20 year-over-year[21]. Cash Flow - Cash flow from operating activities showed a net outflow of ¥149,133,088.56, a significant decline of 460.79% compared to the same period last year[9]. - Cash inflow from operating activities totaled ¥4,147,063,112.12, up from ¥2,927,681,134.75 in the previous period, representing an increase of approximately 41.5%[37]. - The total cash inflow from operating activities was ¥3,586,619,839.71, compared to ¥2,265,728,934.72 in the previous period, reflecting a growth of about 58.2%[37]. - Cash outflow from investment activities was ¥2,756,237,612.39, down from ¥3,168,421,881.57, indicating a decrease of about 13.0%[40]. - Net cash flow from investment activities was negative at ¥92,824,273.64, an improvement from a loss of ¥231,479,080.15 in the previous period[40]. - Cash inflow from financing activities was ¥20,500,000.00, down from ¥48,340,400.00, a decrease of approximately 57.5%[40]. - Net cash flow from financing activities was negative at ¥49,445,195.49, compared to a positive flow of ¥46,431,614.99 in the previous period[40]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 19,684[10]. - The top five shareholders hold the following percentages: Hong Dacheng Co., Ltd. 17.44%, Wang Jing 14.16%, Xing Zheng 13.66%, Zhang Shujian 12.14%, and Eagle Group Business Limited 7.23%[10]. - The company completed the repurchase and cancellation of 892,148 restricted shares, reducing the total share capital from 236,281,302 shares to 234,985,690 shares[17]. Inventory and Receivables - Accounts receivable increased by 75.18% to ¥1,063,186,132.78, primarily due to some sales projects not yet receiving payments[6]. - Inventory rose by 36.68% to ¥1,012,508,311.31, attributed to strategic stocking and longer overseas shipping times due to the COVID-19 pandemic[6]. - Accounts receivable increased significantly to RMB 1,063,186,132.78 from RMB 606,915,860.15 year-over-year[18]. - Inventory increased to RMB 1,012,508,311.31 from RMB 740,811,372.64 year-over-year[18]. Government Subsidies and Expenses - The company received government subsidies totaling ¥12,043,580.82 during the reporting period, contributing to its financial performance[5]. - Research and development expenses for the current period were ¥157,271,442.58, up from ¥139,190,401.78, reflecting an increase of about 13.0%[30]. - Cash outflow of ¥414,133,370.81 for employee payments, which increased from ¥377,787,481.63, indicating a rise of approximately 9.6%[37].

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 2,126,266,914.86, representing an increase of 85.81% compared to CNY 1,144,335,130.70 in the same period last year[30]. - The net profit attributable to shareholders of the listed company was CNY 26,168,978.37, a significant turnaround from a loss of CNY 32,689,052.35 in the previous year, marking an increase of 180.05%[30]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 15,080,486.13, compared to a loss of CNY 78,661,647.04 in the same period last year, reflecting a 119.17% improvement[30]. - The basic earnings per share for the reporting period was CNY 0.11, a recovery from a loss of CNY 0.14 per share in the previous year, indicating an increase of 178.57%[30]. - The total assets at the end of the reporting period were CNY 4,322,534,958.21, up 4.44% from CNY 4,138,586,353.41 at the end of the previous year[30]. - The net assets attributable to shareholders of the listed company were CNY 3,037,855,392.39, a slight increase of 0.73% from CNY 3,015,943,878.08 at the end of the previous year[30]. - The net cash flow from operating activities was CNY -358,561,974.17, an improvement of 40.92% compared to CNY -606,918,551.65 in the same period last year[30]. - The weighted average return on net assets was 0.86%, a recovery from -1.12% in the previous year, reflecting a change of 1.98%[30]. - The operating cost increased by 102.10% to ¥1,670,640,765.35 from ¥826,659,961.40, primarily due to the growth in revenue[88]. - The net increase in cash and cash equivalents was -¥635,894,078.26, a decline of 488.57% compared to -¥108,040,516.33 in the previous year, primarily due to changes in operating, investing, and financing activities[88]. Business Strategy and Operations - The company focuses on the education industry, providing information technology products and solutions, including smart interactive panels and smart classrooms[41]. - The company is implementing a "one core, two wings" strategy to transition towards service-oriented smart education, enhancing teacher training services and after-school programs[42]. - The company launched the "Honghe Three Points Companion" platform for after-school services, integrating equipment connectivity and data sharing[51]. - The company is enhancing teacher information technology training services to improve digital teaching capabilities and leadership in education[55]. - The company is expanding its business into smart office and commercial markets, leveraging its existing education technology capabilities[42]. - The company has integrated high-quality audio and video technology, AI capabilities, and cloud computing to provide comprehensive solutions for various sectors including government, finance, education, and healthcare since 2019[56]. - The company has developed a management platform called "HiteVision Three Points Companion" to meet the needs of various stakeholders in after-school services, supported by a dedicated team of nearly 200 researchers[66]. - The company has created a comprehensive education resource cloud platform, offering a wide range of educational materials including digital textbooks and teaching resources[67]. - The company launched the "cloud + end + space + industry" solution to enhance its cloud video conferencing capabilities, aiming to integrate various business scenarios[84]. - The company launched the "HiteVision" smart education products, including the upgraded smart blackboard and the new "HongU" UI system, improving user experience significantly[77]. Market Position and Growth - The company has a significant market share in the education sector, ranking among the top two in China for its HiteVision brand since 2000[42]. - The company's overseas education business revenue grew approximately 60% year-on-year, demonstrating strong growth despite the pandemic[81]. - The global penetration rate of smart interactive displays is less than 3%, indicating significant growth potential in the corporate meeting room market[62]. - The education segment generated ¥1,911,198,524.30, accounting for 89.89% of total revenue, with a year-on-year increase of 96.81%[92]. - The IWB product line contributed ¥1,656,244,088.84, representing 77.89% of total revenue, with a significant increase of 98.59% compared to the previous year[92]. Research and Development - The company applied for 13 new patents in the first half of 2021, including 5 invention patents, 4 utility model patents, and 4 design patents[82]. - The R&D investment for the period was ¥89,125,799.36, a 3.48% increase from ¥86,129,518.15, reflecting the company's commitment to enhancing its product offerings[88]. - The company has established four R&D centers in Beijing, Shenzhen, Baoding, and Hsinchu, Taiwan, focusing on advanced technology development and forming a comprehensive R&D system[72]. - The company has established a rapid R&D system to adapt to technological advancements in 5G, AI, IoT, and big data[125]. Risk Management - The management has outlined potential risks and corresponding measures in the report, emphasizing the importance of investor awareness regarding investment risks[5]. - The company faces risks related to national education policy changes, which could impact business operations and performance[122]. - The company is investing in educational service business development, with potential risks of not meeting expectations and resource recovery[123]. - The company is addressing intensified competition in the smart interactive display market through continuous innovation in technology and services[124]. - The company is focused on managing raw material price fluctuations to maintain profitability and market leadership[128]. - The company is enhancing risk management for overseas operations to mitigate potential impacts from geopolitical changes and trade disputes[129]. - The company is committed to managing fundraising project risks to avoid delays and cost overruns[130]. Corporate Governance and Shareholder Matters - The annual shareholders' meeting had a participation rate of 67.09% on April 28, 2021[135]. - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[135]. - The total share capital was adjusted from 236,454,451 shares to 236,281,302 shares after the repurchase and cancellation of 173,149 restricted shares[138]. - The company will repurchase 892,148 restricted shares from 235 incentive objects due to unmet performance conditions[138]. - The company emphasizes investor rights protection by ensuring fair access to information and providing both on-site and online voting options during shareholder meetings[144]. - The company has implemented a comprehensive human resources management system to protect employee rights and benefits[145]. - The company has appointed new executives, including Sun Xiaoqiang as General Manager and Xia Liang as Secretary of the Board[135]. Social Responsibility and Community Engagement - The company actively participates in social welfare by donating educational resources to remote areas and providing free online classes during the pandemic[150]. - The company has established a good cooperative relationship with suppliers and customers, ensuring mutual protection of rights[149]. Legal and Compliance Matters - The company reported no significant litigation or arbitration matters during the reporting period[162]. - The company has not engaged in any major related party transactions during the reporting period[166]. - The company has not experienced any penalties or rectification situations during the reporting period[163]. - The half-year financial report has not been audited[158]. - The company has not engaged in any significant asset or equity acquisitions or sales during the reporting period[167]. - The company has not reported any major contracts or leasing situations during the reporting period[172].

鸿合科技股份有限公司 2021 年第一季度报告全文 鸿合科技股份有限公司 2021 年第一季度报告 2021 年 04 月 1 鸿合科技股份有限公司 2021 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人邢修青、主管会计工作负责人孙晓蔷及会计机构负责人(会计主 管人员)谢芳声明：保证季度报告中财务报表的真实、准确、完整。 2 鸿合科技股份有限公司 2021 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | |-----------------------------------------------------|------------------|------------------|---------------------------| | □ 是 √ 否 | 本报告期 | 上年同期 | ...

Financial Performance - The company reported a total revenue of RMB 1.5 billion for the year 2020, representing a year-on-year increase of 15%[18] - The net profit attributable to shareholders was RMB 200 million, an increase of 10% compared to the previous year[18] - The company's operating revenue for 2020 was ¥3,993,644,812.01, a decrease of 17.32% compared to ¥4,830,469,665.32 in 2019[26] - The net profit attributable to shareholders for 2020 was ¥81,663,270.72, down 74.00% from ¥314,123,648.06 in 2019[26] - The net profit after deducting non-recurring gains and losses was ¥19,815,059.11, a decline of 92.82% from ¥276,063,012.97 in 2019[26] - The total revenue for 2020 was approximately ¥3.99 billion, a decrease of 17.32% compared to ¥4.83 billion in 2019[90] - Revenue from the education sector was approximately ¥3.45 billion, accounting for 86.33% of total revenue, down 12.31% from ¥3.93 billion in 2019[90] - Revenue from commercial and other sectors was approximately ¥545.91 million, representing 13.67% of total revenue, a decline of 39.26% from ¥898.82 million in 2019[90] - The gross margin for the education sector was 23.96%, a decrease of 1.48% compared to the previous year[91] - The company sold 36.37 million IWB units in 2020, a decrease of 19.61% from 45.24 million units in 2019[94] Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share by 2023[18] - Strategic acquisitions are being considered to enhance product offerings and market reach[18] - The company aims for a revenue growth target of 20% for the fiscal year 2021[18] - The company has transitioned from product-oriented to service-oriented, implementing a "one core, two wings" strategy to enhance educational services[56] - The company is focusing on AI, 5G, and big data research and development to enhance classroom scenarios and provide integrated services for schools, teachers, and students[56] - The company will expand its international market presence while leveraging local operational advantages and replicating successful domestic service models[155] Research and Development - The company has invested RMB 100 million in R&D for new technologies, focusing on AI and smart education solutions[18] - The company invested CNY 191 million in R&D, accounting for 4.78% of total revenue in 2020[82] - The company has established four R&D centers focused on advanced technology, contributing to its competitive edge in the market[65] - The company applied for 396 patents in China, with 23 invention patents and 74 utility model patents granted in 2020[82] - The establishment of the Honghe Education Technology Research Institute will support strategic decision-making and enhance innovation in the education sector[156] Product Development and Innovation - New product launches are expected to contribute an additional RMB 300 million in revenue in 2021[18] - The company has launched a new generation of smart interactive flat panels with 4K ultra-high definition resolution and 90% high color gamut, incorporating blue light reduction technology that decreases over 90% of harmful blue light to the eyes[42] - The smart blackboard integrates traditional blackboard writing with interactive features, supporting multiple users simultaneously and enhancing the teaching experience[44] - The company’s interactive teaching software, "HiteVision π," is designed to facilitate teachers in lesson preparation and classroom management, receiving positive feedback from users[46] - The company launched a series of innovative products, including a 5G mobile portable recording product, enhancing user experience and safety during the COVID-19 pandemic[68] Operational Efficiency and Management - The net cash flow from operating activities increased by 190.96% to ¥145,634,352.38 from ¥50,053,607.87 in 2019[26] - The company has implemented a talent development program, including the "Hongsan Plan" for new talent and the "Hongyan Plan" for key personnel, to enhance its human resources[71] - The company will continue to optimize internal management efficiency and coordination mechanisms to support business development in 2021[157] - The company is enhancing risk management for overseas operations, including compliance with local laws and monitoring geopolitical changes that may affect business[165] Social Responsibility and Community Engagement - The company provided free educational services to students nationwide, reflecting its commitment to social responsibility during the COVID-19 pandemic[86] - The company launched free "Honghe Live Interactive Classroom" services during the pandemic, supporting schools and students nationwide[76] Financial Policies and Shareholder Relations - No cash dividends will be distributed to shareholders for the year 2020[6] - The company did not distribute cash dividends for the years 2018, 2019, and 2020, with net profits of approximately CNY 336.23 million, CNY 314.12 million, and CNY 81.66 million respectively[179] - The company has maintained a cash dividend policy that aligns with its articles of association and shareholder resolutions, ensuring transparency and compliance[175] - The company has a commitment to comply with legal regulations regarding share reductions and announcements[184] - The company has a cash dividend policy prioritizing stable returns to investors, with a focus on cash dividends when cash flow allows[195]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2020, representing a year-on-year increase of 15%[19] - The net profit attributable to shareholders was RMB 150 million, an increase of 20% compared to the previous year[19] - The company's operating revenue for 2020 was ¥3,993,644,812.01, a decrease of 17.32% compared to 2019[27] - The net profit attributable to shareholders for 2020 was ¥81,663,270.72, down 74.00% from the previous year[27] - The net profit after deducting non-recurring gains and losses was ¥19,815,059.11, a decline of 92.82% year-on-year[27] - The company achieved a total revenue of 3.994 billion yuan and a net profit attributable to shareholders of 82 million yuan, with a basic earnings per share of 0.35 yuan for the reporting period[75] - Total revenue for 2020 was approximately CNY 3.99 billion, a decrease of 17.32% compared to CNY 4.83 billion in 2019[87] - Revenue from the education sector was CNY 3.45 billion, accounting for 86.33% of total revenue, down 12.31% from CNY 3.93 billion in 2019[90] - The company's IWB product sales amounted to CNY 2.75 billion, representing 68.83% of total revenue, with a year-on-year decline of 16.33%[90] - The gross profit margin for the education sector was 23.96%, a decrease of 1.48% compared to the previous year[90] Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by 2022[19] - The company anticipates a revenue growth of 20% for 2021, driven by new product offerings and market expansion[19] - The company is exploring potential mergers and acquisitions to enhance its technology capabilities and market reach[19] - The company is transitioning from product-focused to service-oriented, implementing a "one core, two wings" strategy to enhance teacher training and support the "Education Informatization 2.0" initiative[56] - The company is expanding its product offerings into teacher training services, classroom services, and commercial sectors to diversify revenue streams[178] Research and Development - The company has invested RMB 50 million in R&D for new technologies, focusing on AI and smart education solutions[19] - The company invested 191 million yuan in R&D, accounting for 4.78% of total revenue, focusing on enhancing product functionality and user experience[81] - The company has established R&D centers in Beijing, Shenzhen, Baoding, and Hsinchu, Taiwan, supporting the company's innovation-driven strategy[65] - The company has a dedicated pre-sales and customer operation team of over 200 people, providing timely support to global customers[69] - The company has established the Honghe Education Technology Research Institute to focus on future interactive display technologies and smart education ecosystem development[80] Product Development and Innovation - New product launches are expected to contribute an additional RMB 300 million in revenue in 2021[19] - The company has launched a new generation of smart interactive flat panels with 4K ultra-high definition resolution and 90% high color gamut, reducing over 90% of harmful blue light to the eyes[42] - The smart blackboard integrates traditional blackboard functions with interactive capabilities, enhancing screen display effects and supporting multiple users for collaborative writing[44] - The company launched innovative products such as the optical full-lamination technology and the sixth-generation interactive teaching software, HiteVision π, enhancing user experience significantly[68] - The company’s smart AI classroom integrates AI applications for features like face recognition, improving classroom efficiency and personalized teaching[68] Financial Management and Investments - No cash dividends will be distributed to shareholders for the year 2020, as the company aims to reinvest profits into growth initiatives[7] - Cash and cash equivalents increased by 31.66% compared to the beginning of the period, primarily due to the redemption of financial products at year-end[60] - The total investment amount for the reporting period was CNY 1,617,715,580.42, representing a 104.36% increase compared to CNY 791,604,139.61 in the same period last year[119] - The company reported a net interest income of RMB 4,448.58 million from financial products after deducting bank fees[128] - The company has not proposed any cash dividend distribution or capital reserve increase for the fiscal year 2020[196] Risk Management - Key risks identified include market competition and regulatory changes, with strategies in place to mitigate these risks[6] - The company faces risks related to fluctuations in national education funding, which could impact customer demand and operational performance[176] - The company has implemented flexible procurement policies to mitigate risks associated with price fluctuations of key raw materials, particularly large-sized LCD panels[180] - The company is enhancing its international management capabilities to address risks associated with overseas operations, including legal compliance and geopolitical tensions[181] Corporate Governance and Shareholder Relations - The company has a clear profit distribution policy to ensure reasonable returns for shareholders, which has not changed during the reporting period[191] - Independent directors have fulfilled their responsibilities, ensuring the protection of minority shareholders' rights[192] - The company’s decision-making processes regarding profit distribution are complete and transparent[192] - The actual controllers of the issuer, Wang Jing and Xing Xiuqing, committed to a lock-up period of 36 months, during which they will not transfer or manage their shares directly or indirectly held before the issuer's listing[200]

Financial Performance - Operating revenue decreased by 25.89% to CNY 1,473,532,414.88 year-on-year[10] - Net profit attributable to shareholders decreased by 76.58% to CNY 90,005,589.30 compared to the same period last year[10] - Basic earnings per share decreased by 80.33% to CNY 0.38[10] - The company reported a significant decrease in net profit due to a drop in operating revenue and increased costs[10] - The net profit attributable to the parent company decreased by 76.58% to ¥57,316,536, mainly due to a decline in sales revenue impacted by the COVID-19 pandemic[26] - Basic earnings per share dropped by 80.33% to ¥0.24, reflecting the decrease in net profit and capital reserve conversion to share capital[26] - The net profit for the current period is 66,661,360.21, a decrease of 73.98% compared to 246,586,304.73 in the previous period[84] - The total profit for the current period is 86,699,998.14, down from 294,305,458.66, reflecting a decline of 70.54%[84] Assets and Liabilities - Total assets increased by 10.37% to CNY 4,375,174,104.61 compared to the end of the previous year[10] - The company's total liabilities increased significantly, with accounts payable rising by 48.02% to ¥172,145,716[23] - Total liabilities rose to CNY 1,354,228,951.12 from CNY 1,024,773,519.19, indicating an increase of approximately 32.2%[54] - The company's equity attributable to shareholders reached CNY 2,995,472,345.40, up from CNY 2,922,401,450.93, reflecting a growth of about 2.5%[56] - The total liabilities as of September 30, 2020, were CNY 149,074,422.82, significantly higher than CNY 66,485,616.18 from the previous year, indicating a rise of approximately 124%[64] Cash Flow - Net cash flow from operating activities increased by 532.55% to CNY 648,253,884.49 compared to the same period last year[10] - The net cash flow from operating activities improved by 532.55% to ¥41,335,332, driven by increased sales collections and government subsidies[26] - Cash inflow from investment activities totaled ¥2,936,942,801.42, compared to ¥862,633,144.13 in the prior period, indicating a substantial increase[100] - Cash outflow from investment activities was ¥3,168,421,881.57, leading to a net cash flow from investment activities of ¥-231,479,080.15, an improvement from ¥-1,101,443,663.90 previously[100] - The total cash and cash equivalents at the end of the period stood at ¥825,596,545.52, down from ¥933,105,496.47 previously[100] Government Support and Subsidies - The company received government subsidies amounting to CNY 39,435,938.00 during the reporting period[10] - The company reported a 73.76% increase in other income to ¥37,120,100, primarily from government subsidies[26] Investments and Projects - The company has invested a total of RMB 706.37 million in fundraising projects, with idle funds generating investment income of RMB 41.67 million[37] - The company has adjusted the use of part of the raised funds, reducing the investment in the "Information System Construction Project" by RMB 120 million, reallocating to "Teacher Training Services" and "Classroom Services" projects[37] - The construction in progress increased by 156.86% to ¥244,222,806, reflecting ongoing investment in fundraising projects[23] Financial Management - The company has no overdue or uncollectible amounts related to entrusted financial management, with a total of RMB 151.72 million in entrusted financial management amounts[40] - The company has no violations regarding external guarantees during the reporting period[38] - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[39] Shareholder Information - The top ten shareholders hold a combined 74.04% of the shares, with the largest shareholder holding 17.33%[14] - The company plans to provide a total guarantee amount not exceeding RMB 835 million for its subsidiaries, authorized for a period of 12 months from the date of the shareholder meeting approval[27] - The company has signed guarantee contracts for a maximum debt amount of RMB 100 million and RMB 30 million for its subsidiaries, covering principal, interest, penalties, and other related costs[27] - As of the end of the reporting period, the total external guarantee balance of the company and its subsidiaries is RMB 455 million and USD 400,000, with no overdue guarantees or litigation involved[27]