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].

Financial Performance - The company's operating revenue for Q1 2021 was ¥796,360,125.91, representing a 161.58% increase compared to ¥304,442,834.68 in the same period last year[10] - Net profit attributable to shareholders was ¥6,843,159.09, a significant recovery from a loss of ¥47,812,391.82 in the previous year, marking a 114.31% improvement[10] - The basic earnings per share increased to ¥0.03 from a loss of ¥0.21, reflecting a 114.29% increase year-over-year[10] - Operating revenue increased by 161.58% to ¥796,360,125.91 from ¥304,442,834.68, attributed to improved sales as the pandemic situation improved[26] - The company reported a 610.40% increase in income tax expenses to ¥7,410,719.84 from -¥1,451,954.22, driven by increased profits[26] - The net profit for the current period is 9,342,142.86, a significant improvement from a net loss of 48,127,649.50 in the previous period, marking a turnaround of approximately 119.4%[69] - Operating profit for the current period is 16,872,013.11, compared to a loss of 52,916,597.73 in the previous period, indicating a recovery in operational performance[69] - Total profit for the current period is 16,752,862.70, up from a loss of 49,579,603.72 in the previous period, reflecting a positive shift in financial health[69] Cash Flow and Liquidity - The net cash flow from operating activities improved to -¥273,014,715.98, a 53.09% reduction in cash outflow compared to -¥582,013,519.37 in the previous year[10] - Cash and cash equivalents decreased by 37.34% to ¥838,223,803.07 from ¥1,337,632,215.56 due to new financial investments and operational expenditures[26] - The cash flow from operating activities for the current period is 906,753,727.15, a significant increase from 334,116,030.60 in the previous period, indicating strong cash generation capabilities[82] - The total cash inflow from operating activities was 951,325,132.19, compared to 384,131,535.72 in the previous period, showing strong operational performance[83] - The ending cash and cash equivalents balance was 790,679,331.98, up from 556,313,371.29 in the previous period[86] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,073,594,310.58, a decrease of 1.57% from ¥4,138,586,353.41 at the end of the previous year[10] - The company's total liabilities decreased to RMB 1,025,401,279.35 as of March 31, 2021, from RMB 1,101,829,503.27 at the end of 2020, reflecting a reduction of approximately 6.9%[52] - The company's inventory increased to RMB 944,875,568.15 as of March 31, 2021, up from RMB 740,811,372.64 at the end of 2020, marking an increase of about 27.5%[47] - The company reported a decrease in accounts payable to RMB 591,614,339.57 as of March 31, 2021, down from RMB 705,898,858.71 at the end of 2020, which is a decline of approximately 16.2%[52] Shareholder Information - The top shareholder, Hongdacheng Co., Ltd., holds 17.33% of the shares, followed by individual shareholders Wang Jing and Xing Zheng with 14.08% and 13.58%, respectively[15] - The net assets attributable to shareholders increased slightly by 0.22% to ¥3,022,486,755.65 from ¥3,015,943,878.08[10] Government Support and Subsidies - The company received government subsidies amounting to ¥4,709,681.00 during the reporting period[10] - Other income decreased by 72.63% to ¥4,794,874.89 from ¥17,520,623.80, primarily due to a reduction in government subsidies received[26] Investment Activities - The company has no significant securities investments during the reporting period[30] - The company has a total of RMB 113,670 million in entrusted financial management, with RMB 69,270 million sourced from raised funds and RMB 44,400 million from self-owned funds[39] Research and Development - The company’s research and development expenses for Q1 2021 were ¥41,141,112.01, slightly up from ¥41,072,327.56 in Q4 2020, indicating a stable investment in innovation[66] Strategic Developments - The company reported no significant changes in its strategy or new product developments during the quarter[10] - The company engaged in investor relations activities discussing its development prospects and strategic advantages on February 25, 2021[42]

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]

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].

Financial Performance - The company's operating revenue for Q1 2020 was ¥304,442,834.68, a decrease of 50.33% compared to ¥612,985,761.75 in the same period last year[9]. - The net profit attributable to shareholders was -¥47,812,391.82, representing a decline of 367.18% from ¥17,895,096.35 in the previous year[9]. - The basic earnings per share were -¥0.35, while diluted earnings per share were -¥0.53, compared to ¥0.17 in the previous year[9]. - The company reported a net cash flow from operating activities of -¥582,013,519.37, a decline of 75.66% compared to the previous year[24]. - The company recorded a 52.43% decrease in operating costs to ¥215,604,201.07, reflecting the drop in revenue[24]. - The net profit for the current period is a loss of CNY 957,751.72, compared to a net profit of CNY 277,438,422.85 in the previous period[66]. - The total comprehensive income attributable to the parent company is a loss of CNY 46,323,193.37, compared to a gain of CNY 16,958,319.51 in the previous period[63]. Cash Flow and Liquidity - The net cash flow from operating activities was -8,782,114.09 CNY, compared to -13,975,141.69 CNY in the previous period, indicating an improvement[76]. - Cash inflow from investment activities totaled 571,660,629.89 CNY, significantly higher than 119,670,488.85 CNY in the previous period[76]. - The total cash and cash equivalents at the end of the period were 26,635,497.54 CNY, down from 4,635,115.44 CNY in the previous period[78]. - Cash outflow from financing activities was 614,556.44 CNY, compared to 2,000,000.00 CNY in the previous period[78]. - The cash flow from operating activities was primarily impacted by a decrease in cash received from sales and services, which was 463,597.94 CNY in the previous period[76]. Assets and Liabilities - Total assets at the end of the reporting period were ¥3,623,813,208.63, down 8.59% from ¥3,964,145,370.85 at the end of the previous year[9]. - Total liabilities decreased to approximately CNY 724.53 million from CNY 1.02 billion, a reduction of 29.2%[49]. - The company's total assets were approximately CNY 3.62 billion, down from CNY 3.96 billion, reflecting a decrease of 8.6%[51]. - The equity attributable to shareholders decreased to approximately CNY 2.88 billion from CNY 2.92 billion, a decline of 1.4%[51]. - The total current liabilities were CNY 66,485,616.18[84]. Government Support and Other Income - The company received government subsidies amounting to ¥20,635,021.13 during the reporting period[9]. - Other income increased by 34.13% to ¥17,520,623.80, mainly due to increased government grants received[24]. - The company reported a non-operating income of ¥9,676,562.65 from financial products[9]. Research and Development - Research and development expenses increased by 40.61% to ¥41,072,327.56 as the company intensified its R&D investments[24]. - Research and development expenses for the current period were CNY 41,072,327.56, up from CNY 29,210,123.05 in the previous period[59]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 16,186[13]. - The company reported a decrease in employee compensation payable to CNY 33.28 million from CNY 64.91 million, a drop of 48.7%[49].

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]