Financial Performance - The company's operating revenue for the first half of 2020 was ¥1,144,335,130.70, a decrease of 43.48% compared to ¥2,024,785,966.87 in the same period last year[26]. - The net profit attributable to shareholders of the listed company was a loss of ¥32,689,052.35, down 129.03% from a profit of ¥112,622,867.29 in the previous year[26]. - The net cash flow from operating activities was -¥606,918,551.65, which is a deterioration of 179.72% compared to -¥216,971,462.90 in the same period last year[26]. - The basic earnings per share were -¥0.14, a decline of 113.46% from ¥1.04 in the previous year[26]. - The company's operating revenue for the reporting period was ¥1,144,335,130.70, a decrease of 43.48% compared to ¥2,024,785,966.87 in the same period last year, primarily due to the impact of domestic and international pandemics[58]. - The company's operating costs decreased by 45.62% to ¥826,659,961.40 from ¥1,520,122,168.54, reflecting the decline in revenue[58]. - The education segment accounted for 84.86% of total revenue, generating ¥971,080,617.55, down 40.52% year-on-year[65]. - The overseas revenue represented 55.42% of total revenue, amounting to ¥634,233,891.30, with a decrease of 7.70% compared to the previous year[58]. Assets and Liabilities - Total assets at the end of the reporting period were ¥3,873,974,898.91, a decrease of 2.27% from ¥3,964,145,370.85 at the end of the previous year[26]. - The net assets attributable to shareholders of the listed company were ¥2,905,060,689.49, down 0.59% from ¥2,922,401,450.93 at the end of the previous year[26]. - The company's cash and cash equivalents decreased by 106.26% to -¥108,040,516.33 from ¥1,726,347,638.59, attributed to the lack of fundraising and reduced sales[62]. - The company's total assets included cash of ¥893,353,278.73, which constituted 23.06% of total assets, a decrease of 30.53% from the previous year due to the prior year's fundraising[70]. Investments and R&D - The company reported a significant increase in non-operating income from financial products, amounting to ¥18,077,553.12[29]. - Research and development expenses increased by 2.33% to ¥86,129,518.15 from ¥84,165,458.60, indicating continued investment in innovation[62]. - The company obtained a total of 562 patents and 289 software copyrights by the end of the reporting period, indicating a strong focus on R&D[50]. - The total investment amount for the reporting period was CNY 457,549,750, a decrease of 17.66% compared to CNY 555,713,700 in the same period last year[75]. - The company has invested CNY 121,007,890.91 in the interactive display product production base project, with a cumulative actual investment of CNY 221,832,495.35[75]. Operational Risks and Management - The company faces various operational risks and has outlined corresponding measures to mitigate these risks in the report[6]. - The company has optimized its internal control system to effectively prevent operational risks[53]. - The company is actively monitoring the impact of the COVID-19 pandemic on its operations and is implementing strategies to minimize adverse effects[117]. - The company is facing risks related to fluctuations in national education funding, which could impact customer demand and overall performance[110]. - The company has established a risk management department to strengthen intellectual property protection and mitigate overseas operational risks[115]. Corporate Governance and Shareholder Matters - The company plans not to distribute cash dividends or issue bonus shares[7]. - The annual shareholders' meeting had a participation rate of 76.06% on May 22, 2020[121]. - The company completed the first grant of restricted stock under the 2019 incentive plan, granting 1,856,877 shares to 286 incentive objects[139]. - The company's total share capital increased from 137,233,977 shares to 139,090,000 shares after the stock grant[139]. - The company did not engage in any major related party transactions during the reporting period[143]. - The company has fulfilled all commitments made by its controlling shareholders and related parties[126]. Subsidiary Performance - The subsidiary "Horizon Innovation" reported a net loss of RMB 31,008,542.14, with total revenue of RMB 968,013,916.70 during the reporting period[106]. - The subsidiary "Horizon Hong Kong" achieved a net profit of HKD 8,445,433.74, with total revenue of HKD 261,212,167.64[106]. - The subsidiary "New Line USA" generated a net profit of USD 27,444,318.31, with total revenue of USD 236,502,007.48[106]. Shareholding Structure - The largest shareholder, 鸿达成有限公司, holds 17.33% of the shares, totaling 40,982,799 ordinary shares, with an increase of 16,875,270 shares during the reporting period[188]. - The second-largest shareholder, 王京, holds 14.08% of the shares, totaling 33,282,731 ordinary shares, with an increase of 13,704,654 shares during the reporting period[188]. - The shareholder 邢正 holds 13.58% of the shares, totaling 32,110,693 ordinary shares, with an increase of 13,222,050 shares during the reporting period[188]. - The shareholder 张树江 holds 12.07% of the shares, totaling 28,534,495 ordinary shares, with an increase of 11,749,498 shares during the reporting period[188]. - The company’s foreign shareholding decreased from 24.75% to 17.56% following the share capital increase[175].

鸿合科技股份有限公司 2020 年第一季度报告 2020 年 04 月 m cr 鸿合科技股份有限公司 2020 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王京及会计机构负责人(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 2020 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 | 本报告期比上年同期增 减 | | 营业收入（元） ...

Profit Distribution and Financial Performance - The company reported a profit distribution plan, proposing a capital reserve conversion of 7 shares for every 10 shares held, with no cash dividends[5]. - The company has a total of 139,090,854 shares outstanding, which serves as the basis for the profit distribution plan[5]. - The company achieved a revenue of 4.83 billion RMB, representing a year-on-year growth of 10.34%[72]. - The total profit amounted to 374 million RMB, with a net profit attributable to shareholders of 314 million RMB, resulting in a basic earnings per share of 2.56 RMB[72]. - In 2019, the company achieved operating revenue of 4,830.47 million RMB and a net profit attributable to shareholders of 314.12 million RMB[166]. - The company did not distribute cash dividends for 2018 and 2019, maintaining a cash dividend ratio of 0% for both years[162][163]. - For the 2019 profit distribution plan, the company proposed a capital reserve increase of 7 shares for every 10 shares held, totaling 97,363,598 shares, without cash dividends or stock dividends[166]. - As of December 31, 2019, the company's undistributed profits amounted to 694.62 million RMB, with a capital reserve balance of 2.07 billion RMB[166]. Risk Management and Compliance - The company emphasizes the importance of risk management and has outlined major risks and countermeasures in the report[5]. - The financial report is guaranteed to be true, accurate, and complete by the company's management, including the CEO and accounting head[4]. - The company has established a commitment to comply with regulations regarding the reduction of shares held by directors and senior management, ensuring adherence to legal frameworks[177]. - The company has confirmed that any changes in shareholdings due to rights distributions will still adhere to the established commitments[178]. - The company emphasizes the importance of legal compliance in share transactions to maintain investor confidence and market integrity[179]. Market Presence and Product Development - The company has a focus on expanding its market presence and developing new technologies[5]. - The company is focused on the design, R&D, production, and sales of smart interactive display products and solutions, targeting both educational and commercial markets[36]. - The "Hitevision" brand has established a significant market share in the education sector, leveraging key technologies and extensive sales channels[36]. - The company aims to expand its market presence in smart office, smart healthcare, and other application fields, driven by advancements in technology[36]. - The company has maintained a leading position in the education information technology sector, ranking among the top two in the market for educational tablets and smart blackboards in mainland China in 2019[52]. Research and Development - The company has established four R&D centers in Beijing, Shenzhen, Baoding, and Hsinchu, Taiwan, with a team of over 600 personnel, and has obtained a total of 499 patents and 277 software copyrights as of December 31, 2019[61]. - The company increased its R&D investment, focusing on core technologies such as cloud computing, big data, artificial intelligence, and 5G[81]. - The company launched innovative products such as the smart blackboard and AI classroom, enhancing user experience with features like ultra-high definition display and AI-based attendance tracking[61]. Social Responsibility and Community Engagement - The company donated a batch of 65-86 inch smart interactive meeting screens to the Wuhan emergency command center during the COVID-19 outbreak, demonstrating its commitment to social responsibility[55]. - The company provided free online classroom services during the COVID-19 pandemic, reaching over 33 million student attendance by the end of March 2020[doc->id='86']. - The company conducted extensive volunteer activities, including providing free inspection services for over 30,000 interactive devices in schools across the country[doc->id='86']. Shareholder Commitments and Stock Management - The company will implement a clear profit distribution policy to ensure reasonable returns for shareholders, maintaining its commitment to shareholder interests[157]. - The company plans to distribute cash dividends of no less than 10% of the distributable profits achieved in the current year, provided that cash flow is sufficient for normal operations and development plans[184]. - The company has committed to stabilizing its stock price if the A-share stock price falls below the latest audited net asset value per share for 20 consecutive trading days within three years of listing[184]. - The company will announce the repurchase plan within 2 working days after the board resolution, detailing the number of shares, price range, and completion timeline[187]. - The company has established a plan for stock repurchase and increase, which includes specific conditions and timelines for implementation[192].

Financial Performance - Operating revenue for the period was RMB 1,507,435,624.03, a decrease of 3.01% compared to the same period last year[11] - Net profit attributable to shareholders was RMB 132,096,259.38, down 28.44% year-over-year[11] - Basic earnings per share decreased to RMB 0.96, down 46.37% from the previous year[11] - The weighted average return on equity was 4.75%, a decrease of 78.04% year-over-year[11] - Total operating revenue for the current period was CNY 1,507,435,624.03, a decrease of 3.0% compared to CNY 1,554,163,179.61 in the previous period[72] - Net profit for the current period was CNY 134,030,097.14, down 28.2% from CNY 186,623,851.95 in the previous period[75] - Basic earnings per share for the current period were CNY 2.07, down from CNY 2.82 in the previous period, indicating a decline of 26.6%[112] - The total comprehensive income for the current period was CNY 248,196,694.97, compared to CNY 293,991,868.71 in the previous period, reflecting a decrease of 15.6%[108] Assets and Liabilities - Total assets reached RMB 4,031,738,703.06, an increase of 87.06% compared to the previous year[11] - Total current assets reached CNY 3.76 billion, an increase from CNY 1.95 billion year-over-year[55] - Total non-current assets amounted to CNY 269.04 million, up from CNY 203.19 million year-over-year[55] - Current liabilities totaled CNY 1.09 billion, a decrease from CNY 1.17 billion year-over-year[58] - Total liabilities decreased to CNY 1.17 billion from CNY 1.23 billion year-over-year[58] - Shareholders' equity increased to CNY 2.87 billion, up from CNY 926.75 million year-over-year[61] Cash Flow - Net cash flow from operating activities was RMB 207,415,317.03, an increase of 156.90% compared to the previous year[11] - Cash flow from operating activities showed a net outflow of ¥9,556,145.87, a decline from a net inflow of ¥336,497,531.50 in the prior period[134] - Cash flow from investing activities resulted in a net outflow of ¥1,101,443,663.90, compared to a net outflow of ¥267,045,298.05 in the previous year[134] - Cash flow from financing activities generated a net inflow of ¥1,609,135,903.89, contrasting with a net outflow of ¥83,954,121.93 in the same period last year[134] Shareholder Information - The top ten shareholders held a combined 78.72% of the shares, with the largest shareholder holding 17.57%[15] - There were no significant changes in the shareholding structure or any repurchase agreements during the reporting period[19] - The company has not reported any overdue commitments from major shareholders or related parties during the reporting period[43] Research and Development - Research and development expenses increased by 30.12% to approximately ¥148.66 million, reflecting the company's increased investment in R&D[27] - Research and development expenses rose to CNY 64,496,893.62, an increase of 62.0% from CNY 39,931,618.73 in the previous period[72] - Research and development expenses increased to CNY 148,662,352.22, compared to CNY 114,251,462.93, marking a rise of 30.1%[88] Strategic Initiatives - The company signed a strategic cooperation agreement with People's Daily Digital Media Co., Ltd. to enhance resource integration and develop innovative products[28] - The company has initiated a restricted stock incentive plan in 2019, which was approved by the board on September 9, 2019[35] - The independent directors have expressed their agreement with the stock incentive plan, confirming the legality and effectiveness of the incentive targets[40] Investment Income - The company reported a significant increase in investment income, up 3524.67% to approximately ¥13.57 million, due to higher returns from financial products[27] - The company recorded investment income of ¥283,999,331.87, reflecting strong performance in its investment activities[124] - Investment income for the current period was CNY 12,055,265.47, compared to CNY 374,501.43 in the previous period[72] Tax and Refunds - The company received tax refunds of approximately ¥58.75 million, a 176.85% increase compared to the previous year, mainly from export tax rebates[27] - The company’s tax expenses for the current period were CNY 47,719,153.93, slightly lower than CNY 48,367,407.24 in the previous period[91]

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 2,024,785,966.87, representing an increase of 11.67% compared to CNY 1,813,218,494.52 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was CNY 112,622,867.29, up 6.58% from CNY 105,671,005.61 year-on-year[19]. - The basic earnings per share for the reporting period was CNY 1.04, a slight increase of 0.97% from CNY 1.03 in the same period last year[19]. - The company achieved a total revenue of RMB 202,478.60 million, representing a year-on-year increase of 11.67%[43]. - The net profit attributable to the parent company was RMB 11,262.29 million, an increase of 6.58% year-on-year[43]. - The total profit for the first half of 2019 was CNY 131,543,181.73, an increase from CNY 122,049,058.83 in the previous year, marking a growth of approximately 7.3%[177]. - The total comprehensive income for the first half of 2019 was CNY 112,577,337.70, compared to CNY 106,072,943.41 in the previous year, reflecting an increase of about 6.5%[177]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -216,971,462.90, a decrease of 184.83% compared to CNY 255,761,188.76 in the previous year[19]. - The company reported a significant increase in cash flow from financing activities, amounting to RMB 1,926,135,660.04, a 3,141.58% increase due to funds raised from the initial public offering[56]. - The total cash and cash equivalents at the end of the period amounted to 2,151,895,647.60 CNY, up from 615,752,663.88 CNY year-over-year[189]. - The company experienced a net increase in cash and cash equivalents of 1,726,347,638.59 CNY, compared to 133,727,106.04 CNY in the same period last year[189]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 4,130,589,724.40, an increase of 91.64% from CNY 2,155,356,410.24 at the end of the previous year[19]. - The company's total liabilities reached CNY 1,399,678,357.41, an increase from CNY 1,228,606,176.59, marking a rise of 13.9%[165]. - The company's equity attributable to shareholders rose to CNY 2,713,220,500.56, compared to CNY 909,053,439.00, reflecting a growth of 198.5%[165]. Research and Development - Research and development investment for the reporting period was RMB 8,416.55 million, accounting for 4.16% of total revenue[43]. - Research and development expenses rose by 13.25% to RMB 84,165,458.60, reflecting the company's commitment to increasing R&D investment[56]. - The company has established a rapid product development system to address the risks associated with technological innovation and product updates in the smart interactive display industry[88]. Market and Product Development - The company launched innovative products such as the "smart interactive blackboard" which gained significant market attention at the 76th China Educational Equipment Exhibition[34]. - The company is actively expanding its international market presence, particularly with its brand "Newline" in the US and Europe, enhancing its competitive strength[28]. - The company has set up 14 sales regions and 44 subsidiaries across China, with over 4,000 established partnerships with distributors, enhancing its market presence[36]. Risk Factors - The company faced various risk factors affecting its business operations, which are detailed in the report[5]. - The company is facing risks related to fluctuations in national education funding, which could impact downstream customer demand and overall business performance[88]. Corporate Governance and Compliance - The company plans not to distribute cash dividends or issue bonus shares for this reporting period[6]. - The half-year financial report has not been audited[97]. - The company has not reported any significant non-raised fund investment projects during the reporting period[82]. - There were no significant related party transactions during the reporting period[105].