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]

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].