Financial Performance - The company's operating revenue for the first half of 2022 was approximately ¥628.20 million, representing a 7.30% increase compared to ¥585.47 million in the same period last year[19]. - The net profit attributable to shareholders increased by 217.75% to approximately ¥15.13 million, up from ¥4.76 million in the previous year[19]. - The net profit after deducting non-recurring gains and losses surged by 628.74% to approximately ¥16.45 million, compared to ¥2.26 million in the same period last year[19]. - Basic earnings per share increased by 220.00% to ¥0.16, compared to ¥0.05 in the same period last year[19]. - The weighted average return on net assets rose to 1.79%, up from 0.57% in the previous year[19]. - The net assets attributable to shareholders increased by 2.40% to approximately ¥808.15 million, compared to ¥789.19 million at the end of the previous year[19]. - The company's operating costs amounted to CNY 545.640 million, up 3.13% compared to the previous year[37]. - The company's revenue for the reporting period was approximately ¥628.20 million, representing a year-over-year increase of 7.30% compared to ¥585.47 million in the same period last year[40]. - The cost of sales increased by 3.13% to ¥545.64 million from ¥529.06 million, resulting in a gross margin of 13.13%[45]. - The gross profit margin for the electronic industry segment was 11.13%, reflecting a slight increase of 1.49% year-over-year[45]. Cash Flow and Investments - The company reported a negative net cash flow from operating activities of approximately ¥111.36 million, worsening by 458.68% from a negative cash flow of ¥19.93 million in the previous year[19]. - The company reported a significant increase in financing cash flow, with net cash from financing activities reaching ¥151.12 million, a 1,915.69% increase from a net outflow of ¥8.32 million in the previous year[40]. - The net cash and cash equivalents increased by 147.04% to ¥49.06 million, primarily due to changes in operating, investing, and financing cash flows[40]. - The total investment amount for the reporting period reached ¥431,045,512.01, a significant increase of 588.47% compared to ¥62,608,817.64 in the same period last year[54]. - The company has ongoing projects with a completion rate of 99.26% for the establishment of an acoustic research center, with an investment of ¥22,454,947.05[58]. - The company has made significant investments in upgrading production lines for headphones and accessories, totaling ¥14,934,028.20[58]. - The company has a total of ¥50,511,380.82 in financial assets, with ¥25,000,000.00 purchased during the reporting period[51]. - The company has utilized RMB 20 million of idle funds to temporarily supplement working capital, with a usage period not exceeding 12 months[66]. Acquisitions and Subsidiaries - The company completed the acquisition of 75.41% of Feida Audio, which has now become a controlling subsidiary, expanding its main business into acoustic products, precision components, and OEM production[27]. - The company acquired 75.4091% of the shares of Feida Audio, making it a subsidiary and enriching the company's business portfolio[38]. - The company has a total of 8 subsidiaries, with 100% ownership in several, including Dongguan Lusheng Electronics Technology Co., Ltd. and Vietnam Lusheng Industrial Co., Ltd.[159]. - The first phase of the share transfer was completed on March 1, 2022, with the company holding 75.4091% of Feida Audio, making it a subsidiary[104]. - The second phase of the share transfer will occur within 180 days after the first phase's two-year anniversary, with a price based on 20% of the audited net profit of Feida Audio for the most recent fiscal year[102]. Research and Development - Research and development investment reached CNY 24.3146 million, an increase of 37.21% year-on-year[37]. - Research and development expenses rose by 37.21% to ¥24.31 million, attributed to the consolidation of Feida Audio's financials and increased R&D investments[40]. - The company has established multiple technology research centers, enhancing its R&D capabilities in the audio industry[31]. - The company plans to enhance R&D investment and technological innovation to improve product value and mitigate raw material cost pressures[73]. Market Position and Risks - The company has established long-term partnerships with major clients, including Apple, Beats, Samsung, and Xiaomi, enhancing its market position[36]. - The TWS headphone market continues to grow, although the growth rate has slowed in recent years[30]. - The competitive landscape is intensifying, with numerous domestic players and foreign companies dominating the high-end market, posing risks to market expansion and technological upgrades[74]. - The company faced risks from the global COVID-19 pandemic, which has negatively impacted demand for consumer electronics[72]. - Labor shortages and rising labor costs pose risks to the company's operations, prompting a focus on automation and efficient task allocation across production bases[72]. - The company is exposed to exchange rate fluctuation risks due to its significant overseas business, which may affect pricing competitiveness[72]. - The company faces significant risks from raw material price fluctuations, which can adversely affect profitability if not managed effectively[73]. Governance and Compliance - The company has established a governance structure that includes a board of directors and various committees to ensure effective decision-making and risk management[83]. - The company has not faced any environmental penalties during the reporting period, indicating compliance with environmental regulations[83]. - The company is committed to employee rights protection, ensuring compliance with labor laws and providing necessary social insurance[83]. - The company emphasizes investor relations management, ensuring accurate and timely information disclosure to enhance its image in the capital market[84]. - The company maintains fair treatment of suppliers and customers, focusing on long-term partnerships and high satisfaction in product and after-sales service[84]. Financial Reporting and Accounting Policies - The semi-annual financial report has not been audited[90]. - The financial report for the first half of 2022 was not audited[129]. - The accounting policies followed are in accordance with the enterprise accounting standards, ensuring the financial statements reflect the true financial condition of the company[163]. - The company has not reported any significant changes in accounting policies or prior period error corrections during the current reporting period[154]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 10,458[118]. - The company has 96 million shares in total, with 75% being restricted shares[116]. - Guangdong Jianyi Investment Co., Ltd. holds 52.08% of the shares, amounting to 50 million shares[118]. - The company reported a profit distribution of CNY 4,800,000.00 to shareholders during the current period, reflecting a strategic decision to return value to investors[153].

Financial Performance - The company's revenue for Q1 2022 was CNY 275,201,501.10, representing a 7.15% increase compared to CNY 256,846,435.31 in the same period last year[3] - Net profit attributable to shareholders was CNY 4,142,861.68, a 1.42% increase from CNY 4,085,006.84 year-on-year[3] - The company recorded a profit before tax of CNY 6,426,223.13, a 44.30% increase compared to CNY 4,453,476.22 in the previous year[9] - The company reported a net profit of ¥217,138,307.57, compared to ¥212,995,445.89 in the previous period, showing a slight increase of 1.06%[16] - Net profit for the current period was ¥4,723,569.45, representing a 15.6% increase from ¥4,085,006.84 in the previous period[19] - Operating profit increased to ¥5,728,496.86, a rise of 33.5% compared to ¥4,290,477.17 in the last period[18] Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -15,402,260.10, a decline of 142.18% compared to CNY 36,515,957.68 in the same period last year[3] - Cash flow from operating activities showed a net outflow of ¥15,402,260.10, a decrease from a net inflow of ¥36,515,957.68 in the previous period[21] - Cash and cash equivalents increased to ¥273,192,317.72 from ¥167,694,188.38, representing a growth of 62.73%[14] - Cash and cash equivalents at the end of the period totaled ¥269,993,244.60, down from ¥335,773,515.51 at the end of the previous period[22] Assets and Liabilities - Total assets increased by 30.02% to CNY 1,687,433,094.38 from CNY 1,297,836,124.47 at the end of the previous year[3] - Total assets rose to ¥1,687,433,094.38 from ¥1,384,893,772.61, reflecting a growth of 21.85%[15] - Total liabilities increased to ¥845,733,115.50 from ¥595,701,008.98, an increase of 42.00%[16] - The company's total equity at the end of the period is ¥841,699,978.88, up from ¥789,192,763.63, indicating a growth of 6.63%[16] Shareholder Information - The total number of common shareholders at the end of the reporting period is 11,236[11] - The largest shareholder, Guangdong Jianyi Investment Co., Ltd., holds 52.08% of shares, totaling 50,000,000 shares[11] Inventory and Expenses - The company reported a significant increase in inventory, which rose by 39.05% to CNY 305,675,968.36 due to the consolidation of Feida Audio[8] - Management expenses surged by 87.91% to CNY 14,381,258.39, primarily due to the consolidation of Feida Audio[9] - Research and development expenses increased to ¥11,007,658.09, up 29.1% from ¥8,520,763.13 in the prior period[18] Market Strategy - The company plans to expand its market presence and invest in new product development to drive future growth[12] Other Financial Metrics - The net profit after deducting non-recurring gains and losses decreased by 30.24% to CNY 2,653,325.98 from CNY 3,803,270.24 in the previous year[3] - The company experienced a 50.22% decrease in interest income, which fell to CNY 378,850.05 from CNY 760,990.25 in the same period last year[9] - Total operating revenue for the current period reached ¥275,201,501.10, an increase of 7.3% compared to ¥256,846,435.31 in the previous period[18] - Total operating costs amounted to ¥268,562,898.69, up 6.3% from ¥252,545,756.96 in the prior period[18] - The company reported a total comprehensive income of ¥4,447,981.41, compared to ¥3,538,254.19 in the previous period[19] - Basic and diluted earnings per share improved to ¥0.043, up from ¥0.040 in the last period[19] - The company experienced a significant increase in cash inflow from sales, totaling ¥449,203,385.02, compared to ¥320,753,778.35 in the previous period[20]

Financial Performance - The company's operating revenue for 2021 was ¥1,309,618,586.79, representing a 44.75% increase compared to ¥904,715,193.70 in 2020[18]. - The net profit attributable to shareholders was a loss of ¥41,595,016.28, a decrease of 191.50% from a profit of ¥45,459,132.47 in 2020[18]. - The net cash flow from operating activities increased by 205.53% to ¥124,150,070.40 from ¥40,634,009.00 in the previous year[18]. - The total assets at the end of 2021 were ¥1,384,893,772.61, a 12.00% increase from ¥1,236,505,128.30 at the end of 2020[18]. - The net assets attributable to shareholders decreased by 5.56% to ¥789,192,763.63 from ¥835,675,870.49 in 2020[18]. - The basic earnings per share for 2021 was -¥0.43, a decline of 182.69% from ¥0.52 in 2020[18]. - The weighted average return on net assets was -5.12%, down from 6.49% in the previous year[18]. - The company reported a significant increase in operating revenue after deducting non-recurring gains and losses, amounting to ¥1,305,827,169.82[19]. - Total revenue for Q4 reached 412,646,889.67 CNY, marking a significant increase compared to Q1's 256,846,435.31 CNY[23]. - The net profit attributable to shareholders for Q4 was -46,799,404.79 CNY, a decline from a profit of 4,085,006.84 CNY in Q1[23]. - The net cash flow from operating activities in Q4 was 141,012,416.93 CNY, a recovery from -56,448,011.32 CNY in Q2[23]. Research and Development - The company focuses on the R&D, production, and sales of electroacoustic products, primarily serving downstream brand manufacturers and smart terminal manufacturers[29]. - The company has established a comprehensive R&D team with expertise in various key technology areas, enhancing its competitive edge in the electroacoustic industry[36]. - The company has achieved significant technological advancements in wireless earphone design, including a proprietary RF testing system[37]. - The company is committed to continuous product upgrades and innovations in both earphones and electroacoustic accessories[34]. - Research and development expenses rose by 47.23% to ¥56,927,118.70, reflecting increased investment to adapt to market demands[55]. - The number of R&D personnel increased to 403 in 2021, a growth of 19.94% compared to 336 in 2020[57]. - R&D investment amounted to ¥56,927,118.70 in 2021, representing a 47.23% increase from ¥38,665,294.08 in 2020[57]. - The proportion of R&D investment to operating revenue was 4.35% in 2021, slightly up from 4.27% in 2020[57]. Market and Product Development - The global TWS earphone market has been rapidly growing, driven by the increasing demand for wireless audio solutions[30]. - The company has developed high-end smart earphones, including smart sports earphones and smart noise-canceling earphones, which have gained market recognition[34]. - The company has developed a production process for ultra-fine enameled copper wire with a diameter of 0.02mm, meeting high-quality communication wire requirements[38]. - The company has established a complete product chain including communication wires, headphone ear cushions, semi-finished headphones, and finished headphones, enhancing its competitive advantage[40]. - The company has developed a range of products including over-ear headphones, smart sports headphones, and TWS headphones, diversifying its product structure[41]. - The company is currently developing multiple new products, including TWS headphones and high-end headsets, to strengthen its market position in the audio sector[56]. Customer and Supplier Relations - The company has established long-term cooperative relationships with major clients such as Apple, Samsung, and Xiaomi, enhancing its customer resource advantage[45]. - The top five customers accounted for 80.96% of total sales, with the largest customer contributing 27.07% of total sales[53]. - Domestic revenue accounted for 60% of total revenue, increasing by 28.76% to ¥785,728,304.50, while overseas revenue grew by 77.89% to ¥523,890,282.29, making up 40% of total revenue[47]. - The company emphasizes fair treatment of suppliers and aims to maintain long-term cooperative relationships with them[146]. Operational Efficiency - The company emphasizes refined production management, ensuring high product quality and efficient order fulfillment[42]. - The company has introduced high-precision detection equipment such as CCD video microscopes and fully automatic 3D imaging measurement instruments to improve quality control[43]. - The company has multiple production bases in Dongguan, Laiwu, Vietnam, and India, allowing for cost reduction and proximity to emerging markets[44]. - The cost of raw materials increased by 66.44% to ¥920,076,687.40, representing 76.46% of total operating costs[52]. - The total operating costs for 2021 were ¥1,203,343,823.49, a 59.59% increase from ¥753,815,471.88 in 2020[51]. Governance and Compliance - The company has established a comprehensive internal control system that meets national legal and regulatory requirements, ensuring the healthy operation of business activities[138]. - The company has a complete and reasonable corporate governance structure, continuously improving its governance quality in response to business growth and market changes[142]. - The company actively respects and protects the rights of stakeholders, promoting balanced interests among shareholders, employees, customers, and suppliers[101]. - The company has established an independent financial accounting system, enabling autonomous financial decision-making without shared bank accounts with controlling shareholders[104]. - The independent directors maintain their independence and provide unbiased opinions to protect the interests of the company and minority shareholders[101]. Shareholder and Management Structure - The company held 3 shareholder meetings during the reporting period, ensuring equal rights for all shareholders, especially minority shareholders, with a participation rate of 75.14% in the annual meeting[105]. - The board of directors convened 11 meetings to review significant matters, ensuring compliance with legal procedures and effective execution of resolutions[101]. - The company has a diverse management team with extensive backgrounds in electronics and finance, enhancing its operational capabilities[110][112]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 2.7674 million[120]. - The company has maintained a stable shareholding structure, which may reflect confidence in its future performance[107]. Risks and Challenges - The company recognizes risks from the ongoing global COVID-19 pandemic, which could adversely affect performance due to potential impacts on domestic and overseas operations[93]. - Currency exchange rate fluctuations pose a risk to the company's overseas business, potentially affecting price competitiveness and leading to performance volatility[94]. - The company faces challenges from labor shortages and rising labor costs, necessitating continuous improvements in automation and production efficiency[94]. - The integration of Feida Audio post-acquisition presents risks related to cultural and management differences, which could impact operational performance if not managed effectively[96]. - The company acknowledges the risk of goodwill impairment if Feida Audio's performance does not meet expectations, which could negatively affect overall business results[96]. Investment and Financing - The company has invested RMB 10,000 million in bank wealth management products, with an outstanding balance of RMB 5,000 million[190]. - The company has committed to a stock repurchase plan, with a maximum repurchase fund limit set at 10% of the net financing amount raised from the IPO[153]. - The company will ensure that any share reduction price will not be lower than the IPO price, adhering to regulatory guidelines[152]. - The company has established measures to ensure that any misleading statements in the prospectus will be addressed, including public apologies and compensation for losses[161]. Future Plans - The company plans to enhance supply chain management and integrate upstream core material supplies to leverage its technological and cost advantages[88]. - The company aims to deepen resource integration and optimization based on its accumulated experience in technology R&D and manufacturing in the electroacoustic industry[88]. - In 2022, the company aims to expand its existing customer base while actively seeking new clients to increase market share and influence[89]. - The company plans to enhance its R&D capabilities by increasing investment and optimizing processes to improve efficiency and innovation in response to market demands[90].

广东朝阳电子科技股份有限公司 2021 年第三季度报告 证券代码：002981 证券简称：朝阳科技 公告编号：2021-040 广东朝阳电子科技股份有限公司 2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 重要内容提示: 1、董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不 存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2、公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度 报告中财务信息的真实、准确、完整。 3、第三季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 本报告期比上年同期增减 | 年初至报告期末 | 年初至报告期末比上年 同期增减 | | --- | --- | --- | --- | --- | | 营业收入（元） | 311,497,145.50 | 14.82% | 896,971,697.12 | 46.81% | | 归属于上 ...

Financial Performance - The company's operating revenue for the first half of 2021 was ¥585,474,551.62, representing a 72.35% increase compared to ¥339,704,507.40 in the same period last year[21]. - The net profit attributable to shareholders decreased by 70.28% to ¥4,761,241.97 from ¥16,019,821.12 year-on-year[21]. - The net profit after deducting non-recurring gains and losses dropped by 85.48% to ¥2,257,023.00 compared to ¥15,543,764.44 in the previous year[21]. - Basic earnings per share fell by 75.00% to ¥0.05 from ¥0.20 year-on-year[21]. - The company reported a total comprehensive income of ¥4,209,992.56, down 79.1% from ¥20,102,624.14 in the previous year[142]. - The company's revenue for the reporting period reached ¥585,474,551.62, representing a 72.35% increase compared to ¥339,704,507.40 in the same period last year, primarily driven by an increase in Bluetooth headset orders[49]. - The gross profit margin for earphone products increased significantly, with earphone finished products accounting for 80.14% of total revenue, up from 62.26% in the previous year, reflecting a 121.87% increase[51]. - The company reported a net cash outflow from operating activities of ¥19,932,053.64, a significant decrease from a net inflow of ¥15,316,011.78 in the previous year, primarily due to increased payments for goods and services[49]. Assets and Liabilities - Total assets increased by 6.73% to ¥1,319,687,318.18 from ¥1,236,505,128.30 at the end of the previous year[21]. - The company's equity totaled CNY 835,085,863.05, slightly down from CNY 835,675,870.49, indicating a decrease of approximately 0.7%[134]. - Total liabilities increased to CNY 484,601,455.13, up from CNY 400,829,257.81, marking a rise of around 20.9%[133]. - Current liabilities amounted to CNY 480,260,787.54, compared to CNY 398,089,257.81, showing an increase of approximately 20.6%[133]. - The company's cash and cash equivalents decreased from ¥250,478,265.52 at the end of 2020 to ¥140,822,964.58 by June 30, 2021, a decline of approximately 43.8%[131]. Research and Development - Research and development investment increased by 10.06% to ¥17,720,200.40, compared to ¥16,100,314.88 in the previous year, indicating a commitment to innovation[49]. - The company has a robust R&D team with extensive experience in the electroacoustic field, leading to multiple patents in key production technologies[37]. - The company has developed high-end smart earphones, such as smart sports earphones and smart noise-canceling earphones, which have gained wide recognition in the market[32]. Market Position and Products - The main business remains focused on the research, production, and sales of electroacoustic products, primarily providing smart or specialized earphone products to downstream brand manufacturers[29]. - The company has established a strong market position, entering the supply chains of renowned brands like Apple, Beats, and Samsung[35]. - The company has developed a complete product chain in the electroacoustic industry, including communication cables, earphone casings, semi-finished and finished earphones, enhancing its competitive advantage through vertical integration[41]. - The global TWS earphone industry has seen rapid growth, with increasing market demand driven by the popularity of wireless transmission technologies[34]. Risks and Challenges - The company faces potential industry risks and challenges as outlined in the management discussion section[5]. - The company faces risks from the ongoing global COVID-19 pandemic, which may adversely affect its performance if overseas outbreaks are not effectively controlled[74]. - Labor shortages and rising labor costs pose risks due to structural imbalances in labor supply and demand, necessitating competitive compensation systems[76]. - The competitive landscape is intensifying, with numerous domestic producers and foreign companies holding advantages in high-end markets, posing risks to market expansion and technological upgrades[77]. Cash Flow and Investments - The cash flow from operating activities was ¥645,286,442.49, an increase from ¥551,537,462.66 in the same period last year[148]. - The company has ongoing investments in technology upgrades and expansion projects, with a total investment of 216,645,187.34[64]. - Cash flow from investing activities showed a net outflow of -70,558,714.19 yuan, compared to -80,894,282.32 yuan in the previous year[153]. Shareholder Information - The total number of shares is 96 million, with 75% being limited shares and 25% being unrestricted shares[115]. - The total number of ordinary shareholders at the end of the reporting period was 12,776[117]. - Guangdong Jianyi Investment holds 52.08% of the shares, amounting to 50,000,000 ordinary shares[117]. - The company did not distribute cash dividends or issue bonus shares during the reporting period[82]. Compliance and Governance - The half-year financial report has not been audited, indicating that the financial results are still subject to review[92]. - The company adheres to the Chinese accounting standards, ensuring the accuracy and completeness of its financial reporting[171]. - The financial statements were approved for release by the board on August 20, 2021, ensuring timely disclosure of financial performance[167].

Financial Performance - The company's revenue for Q1 2021 was ¥256,846,435.31, representing an increase of 80.77% compared to ¥142,082,011.17 in the same period last year[8] - Net profit attributable to shareholders was ¥4,085,006.84, a slight increase of 3.17% from ¥3,959,406.98 year-on-year[8] - The net profit after deducting non-recurring gains and losses decreased by 2.68% to ¥3,803,270.24 from ¥3,908,016.68 in the previous year[8] - Basic and diluted earnings per share decreased by 27.27% to ¥0.040 from ¥0.055 year-on-year[8] - Total operating revenue for Q1 2021 reached CNY 256,846,435.31, a significant increase from CNY 142,082,011.17 in the previous period[40] - Net profit for Q1 2021 was CNY 4,085,006.84, slightly up from CNY 3,959,406.98 in the previous year[42] - The company reported a total comprehensive income of CNY 3,111,585.87 for the first quarter, compared to CNY 507,873.73 in the same period last year[47] Cash Flow and Liquidity - The net cash flow from operating activities was ¥36,515,957.68, down 24.42% from ¥48,311,919.68 in the same period last year[8] - The cash flow from operating activities generated a net amount of CNY 36,515,957.68, a decrease from CNY 48,311,919.68 in the previous year[50] - The company's cash and cash equivalents increased to RMB 340.38 million as of March 31, 2021, up from RMB 250.48 million at the end of 2020, representing a growth of approximately 35.9%[32] - Total cash and cash equivalents at the end of the period amounted to CNY 335,773,515.51, compared to CNY 56,148,530.04 at the end of the previous year[51] - The cash flow from investment activities generated a net inflow of CNY 51,959,887.59, compared to a net outflow of CNY 49,753,293.15 in the previous year[50] - The cash flow from financing activities resulted in a net inflow of CNY 2,518,047.17, compared to a net outflow of CNY 9,479,494.81 in the previous year[51] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,297,836,124.47, an increase of 4.96% from ¥1,236,505,128.27 at the end of the previous year[8] - Total assets reached RMB 1.30 billion as of March 31, 2021, compared to RMB 1.24 billion at the end of 2020, marking an increase of about 4.8%[35] - Total liabilities increased to RMB 458.47 million as of March 31, 2021, from RMB 400.83 million at the end of 2020, an increase of approximately 14.4%[34] - Total liabilities rose to CNY 407,158,615.56, compared to CNY 388,766,126.88 in the previous period[38] - The total equity as of March 31, 2021, was RMB 839.37 million, slightly up from RMB 835.68 million at the end of 2020, indicating a growth of about 0.2%[35] - The company's equity totaled CNY 795,740,053.95, an increase from CNY 793,919,965.46[38] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 14,691[12] - The largest shareholder, Guangdong Jianyi Investment Co., Ltd., holds 52.08% of the shares, totaling 50,000,000 shares[12] Operational Metrics - Sales of goods and services amounted to ¥320.75 million, reflecting a 59% increase from ¥202.37 million year-on-year, primarily due to cash receipts from Q4 2020 sales[16] - Cash paid for purchasing goods and services rose by 105% to ¥229.71 million, driven by increased order volumes compared to the same period last year[16] - Cash paid to employees increased by 51% to ¥54.36 million, reflecting a rise in employee numbers compared to the previous year[16] - The company experienced a 37% decrease in payable employee compensation, down to ¥8.09 million, due to year-end bonuses being paid out in the current period[16] Government Support - The company received government subsidies amounting to ¥9,622.64 during the reporting period[9] Investment Activities - The company raised a net amount of RMB 361.38 million from its initial public offering in April 2020[23] - As of March 31, 2021, the company had utilized RMB 9.47 million of the raised funds, with a cumulative investment of RMB 107.23 million[23] - The company reported an investment income of ¥118.90 thousand, attributed to the recognition of returns from bank wealth management products[16] - The company received CNY 100,000,000.00 from investment recoveries during the quarter[51] Accounting and Compliance - The company reported no significant changes in accounting policies for derivative financial instruments compared to the previous reporting period[22] - There were no violations regarding external guarantees or non-operating fund occupation by controlling shareholders during the reporting period[25][27] - The first quarter report was not audited, indicating that the figures may be subject to change upon final review[62]

Financial Performance - The company's operating revenue for 2020 was CNY 904,715,193.70, representing a 9.31% increase compared to CNY 827,657,100.88 in 2019 [6]. - The net profit attributable to shareholders for 2020 was CNY 45,459,132.47, a decrease of 45.32% from CNY 83,138,239.72 in 2019 [6]. - The net profit after deducting non-recurring gains and losses was CNY 42,341,238.29, down 48.68% from CNY 82,499,365.30 in 2019 [6]. - The net cash flow from operating activities for 2020 was CNY 40,634,009.00, a decline of 24.64% compared to CNY 53,916,317.56 in 2019 [6]. - The total assets at the end of 2020 were CNY 1,236,505,128.30, an increase of 63.78% from CNY 754,989,040.39 at the end of 2019 [6]. - The net assets attributable to shareholders at the end of 2020 were CNY 835,675,870.49, up 88.36% from CNY 443,654,827.07 at the end of 2019 [6]. - The company reported a basic earnings per share of CNY 0.52 for 2020, a decrease of 54.78% from CNY 1.15 in 2019 [6]. - The gross profit margin for the electronic industry decreased by 24.50% to 16.68% compared to the previous year [59]. - The total sales volume in the electronic industry was 9,350.86 million units, down 28.58% from 13,092.14 million units in 2019 [60]. Dividend Policy - The company plans to distribute a cash dividend of 0.5 RMB per 10 shares to all shareholders, based on a total of 96,000,000 shares [5]. - For the year 2020, the cash dividend per 10 shares was set at 0.5 yuan, with a total cash dividend amounting to 4.8 million yuan, which accounted for 100% of the total distributable profit of 271.75 million yuan [106][108]. - The company has a stable profit distribution policy, prioritizing cash dividends of at least 10% of distributable profits in profitable years [102]. - The company approved a cash dividend distribution of 14.4 million yuan (including tax) for the year 2018, 9.6 million yuan for 2019, and 4.8 million yuan for 2020, representing 18.72%, 11.55%, and 10.55% of the net profit attributable to ordinary shareholders, respectively [103][106]. Research and Development - The company reported a significant focus on research and development for new products, particularly in the True Wireless Stereo (TWS) headphones segment [10]. - The company continues to focus on the research and development of high-end smart headphones, which have gained wide recognition in the market [27]. - Research and development expenses amounted to ¥38,665,294.08, accounting for 4.27% of total revenue, an increase of 11.94% year-on-year [67]. - The company plans to increase R&D investment to improve its research capabilities and reduce product development costs [94]. - The company has developed high-end smart headphones and has established a comprehensive R&D team with extensive experience in the electroacoustic field [37]. Market Expansion - The company is expanding its market presence, particularly in Southeast Asia, with new partnerships and distribution channels being established [10]. - The company aims to expand its market influence beyond traditional audio markets into esports, mobile, and internet sectors [93]. - The company plans to deepen resource integration and optimize supply chain management to enhance its technological and cost advantages [93]. - The company has established production bases in Dongguan and Laiwu in China, as well as overseas bases in Vietnam and India, to leverage lower labor costs and respond quickly to market demands [47]. - The overseas revenue accounted for 32.55% of total revenue, showing a growth of 29.68% year-on-year [57]. Risk Management - The company emphasizes the importance of risk management strategies in its future development outlook [4]. - The company acknowledges risks from global COVID-19 pandemic, exchange rate fluctuations, and rising labor costs [96]. - The company faces significant risks from raw material price volatility, which could impact profitability [97]. - The competitive landscape is intensifying, with numerous domestic players and foreign companies holding high-end market advantages [97]. Corporate Governance - The company’s governance structure includes a board of directors and supervisory board, ensuring compliance and oversight [4]. - The company’s legal representatives have confirmed the accuracy and completeness of the financial report, ensuring accountability [3]. - The governance structure is established in accordance with the Company Law and operates effectively with a functioning shareholders' meeting, board of directors, and supervisory board [200]. - The shareholders' meeting has been operating in compliance with the Company Law since its establishment in November 2015, making effective resolutions on key matters [200]. Shareholding and Stock Management - The company plans to strictly adhere to the shareholding restrictions and voluntary lock-up commitments for its shares in Chaoyang Technology, ensuring no sales during the lock-up period [110]. - The company will ensure that any share reduction will not be below the issuance price, complying with relevant regulations regarding rights issues and dividends [110]. - The company has established a long-term commitment to hold shares in Chaoyang Technology, with a focus on maintaining stock price stability and operational needs [110]. - The company will utilize various methods for share reduction, including centralized bidding, block trading, and negotiated transfers, in accordance with legal and regulatory requirements [110]. - The company will repurchase shares using its own funds in the secondary market, with a maximum repurchase amount set at 10% of the net proceeds from the new share issuance [116]. Employee and Management Compensation - The total remuneration for directors and senior management during the reporting period amounts to 274.58 million yuan [193]. - The chairman and general manager, Shen Qingkai, received a total remuneration of 36.94 million yuan [193]. - The vice general manager, Xu Zuoli, received a total remuneration of 61.42 million yuan [193]. - The employee compensation system is designed to align salaries with contributions, including basic salary, position salary, bonuses, and subsidies [196]. - The company emphasizes talent development through targeted training programs for different departments and levels, enhancing management capabilities [197].

Financial Performance - Operating revenue for the current period was CNY 271,287,590.16, representing a 22.12% increase year-on-year[7] - Net profit attributable to shareholders decreased by 31.19% to CNY 21,326,311.29 compared to the same period last year[7] - Basic earnings per share decreased by 48.84% to CNY 0.22[7] - The company's net profit for the third quarter was CNY 21,326,311.29, down from CNY 30,991,498.42 year-over-year, representing a decrease of approximately 31%[38] - The total profit for the third quarter was CNY 40,271,829.78, a decrease of 35.3% from CNY 62,145,344.22 in the previous year[46] - The total comprehensive income for the third quarter was CNY 17,510,478.30, compared to CNY 30,930,190.81 in the same period last year, indicating a decline of about 43%[39] Assets and Liabilities - Total assets increased by 58.85% to CNY 1,199,320,079.81 compared to the end of the previous year[7] - Total liabilities rose to CNY 369,922,412.67, compared to CNY 311,334,213.32 in the previous year, reflecting an increase of approximately 18.8%[29] - Cash and cash equivalents decreased by 13.00% to ¥393,706,901.59 due to equipment purchases, loan repayments, and dividend distributions[15] - Accounts receivable increased by 39.00% to ¥308,942,599.42, primarily due to increased revenue during the reporting period[15] - Inventory decreased by 11.00% to ¥186,962,692.43 as a result of enhanced inventory turnover control[15] Shareholder Information - The total number of shareholders at the end of the reporting period was 17,074[11] - The largest shareholder, Guangdong Jianyi Investment Co., Ltd., holds 52.08% of the shares[11] Cash Flow - Net cash flow from operating activities was negative at CNY -2,025,879.61, a decrease of 28.25% year-on-year[7] - The cash inflow from operating activities was CNY 791,584,621.43, compared to CNY 491,291,879.05 in the previous period, representing a 60.2% increase[54] - The net cash flow from operating activities was CNY 13,290,132.17, down from CNY 37,405,947.23, indicating a decline of 64.5%[54] - The cash outflow for purchasing goods and services was CNY 645,559,971.25, up from CNY 291,360,064.31, reflecting a 121.5% increase[54] Government Subsidies and Investments - The company received government subsidies amounting to CNY 614,671.67 during the reporting period[8] - Deferred income increased by 75.00% to ¥700,000.00 due to government subsidies received[15] - The company raised a total of ¥415,680,000.00 from its IPO, with a net amount of ¥361,382,661.88 after expenses[20] - The company invested ¥16,682.54 million in upgrading and expanding its headphone and accessory production line[20] Research and Development - Research and development expenses increased to CNY 11,005,819.80, up from CNY 8,724,573.12, reflecting a growth of about 26.5%[37] - The research and development expenses for the year-to-date period were CNY 27,106,134.68, up from CNY 23,095,026.82, indicating an increase of about 17%[45] - Research and development expenses increased to CNY 26,781,045.22, up 18.8% from CNY 22,561,688.17 in the same period last year[49] Tax and Financial Expenses - The tax expenses for the third quarter were CNY 1,805,277.97, significantly lower than CNY 4,830,886.63 in the previous year, reflecting a decrease of about 63%[38] - The income tax expense for the quarter was CNY 2,925,697.37, down 63.1% from CNY 7,914,948.36 in the previous year[46] - The company reported a credit impairment loss of CNY -792,351.43, a significant improvement from CNY -3,806,627.68 in the previous year[46] Overall Financial Position - The company's equity attributable to shareholders increased to CNY 829,397,667.14 from CNY 443,654,827.07, marking a significant rise of about 87%[30] - Owner's equity totaled CNY 443,654,827.07, including share capital of CNY 72,000,000.00 and retained earnings of CNY 226,262,246.26[63] - The total current assets increased from CNY 591,055,311.73 to CNY 561,215,248.41, indicating a decrease in liquidity[66]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 339,704,507.40, representing a 16.07% increase compared to CNY 292,683,898.42 in the same period last year[18]. - The net profit attributable to shareholders decreased by 31.06% to CNY 16,019,821.12 from CNY 23,238,897.44 year-on-year[18]. - The net cash flow from operating activities dropped significantly by 61.93%, amounting to CNY 15,316,011.78 compared to CNY 40,229,470.15 in the previous year[18]. - The basic earnings per share decreased by 37.50% to CNY 0.20 from CNY 0.32 in the same period last year[18]. - The diluted earnings per share also fell by 40.63% to CNY 0.19 from CNY 0.32 year-on-year[18]. - The company reported a weighted average return on equity of 2.79%, down from 6.10% in the previous year[18]. - The company reported a total comprehensive income of CNY 20,102,624.14 for the first half of 2020, compared to CNY 23,022,262.85 in the same period of 2019[165]. - The company reported a total profit of CNY 10,841,748.25, down 47.9% from CNY 20,829,431.78 in the first half of 2019[168]. - The company’s total comprehensive income for the first half of 2020 was CNY 10,758.87 million, representing a 71.79% increase compared to the previous period[184]. Assets and Liabilities - The total assets of the company increased by 53.00% to CNY 1,155,149,513.95 from CNY 754,989,040.39 at the end of the previous year[18]. - The company's total equity increased to CNY 825,440,113.09 from CNY 443,654,827.07, reflecting a growth of approximately 86.0%[157]. - The company's cash and cash equivalents increased significantly to CNY 454,615,985.78 from CNY 66,164,299.98, marking a growth of approximately 585.5%[154][157]. - Total current liabilities rose to CNY 329,309,400.86 from CNY 310,934,213.32, indicating a slight increase of about 5.4%[156][157]. - The inventory level as of June 30, 2020, was CNY 210,021,635.33, up from CNY 152,683,858.19, which is an increase of about 37.5%[154][157]. - Accounts receivable decreased to CNY 221,554,098.28 from CNY 280,308,047.58, showing a decline of approximately 21.0%[154][157]. Research and Development - The company continues to focus on the research, development, production, and sales of audio products, including smart headphones and high-quality audio accessories[26]. - Research and development investment totaled CNY 16.10 million, a 12.04% increase, accounting for 4.74% of operating revenue[59]. - The company has a dedicated R&D team with extensive experience in the audio field, continuously improving product design and manufacturing technology[47]. - The company has invested in a high-level silent laboratory to research the acoustic characteristics of various headphones[27]. - The company has developed ultra-fine enameled copper wire with a diameter of 0.02mm for high-quality communication wires, reducing signal transmission loss[28]. Production and Operations - The company has automated the production of earphone cushions, significantly improving the standardization and quality of the products compared to traditional manual production methods[29]. - The company has established a complete RF testing system for wireless headphones, enhancing communication distance and stability[27]. - The company has introduced high-precision testing equipment in the production of communication wires to meet high-end product quality control requirements[29]. - The company primarily operates through OEM and ODM models, with a focus on the ODM model[35]. - The company has established production bases in Dongguan and Laiwu in China, as well as overseas bases in Vietnam and India, to leverage lower labor costs and respond quickly to market demands[55]. Market and Sales - The company has a strong customer resource advantage, having established partnerships with major brands like Apple, Beats, Samsung, and Xiaomi, ensuring stable business volume[56]. - The revenue from finished headphones reached CNY 211.49 million, a substantial increase of 63.14% year-on-year[67]. - The company reported a 69.76% increase in foreign sales, amounting to CNY 116.47 million[67]. - Domestic sales revenue was ¥223.24 million, showing a slight decrease of 0.38% year-on-year, while foreign sales revenue surged by 69.67% to ¥116.41 million[68]. Financial Management and Investments - The company completed an IPO, raising significant funds for production line upgrades and expansion projects[61]. - The total amount of funds raised for the public offering was RMB 415.68 million, with a net amount of RMB 361.38 million after deducting related expenses[82]. - The company is undergoing significant investments in production line upgrades and expansions, with a total investment of ¥26.52 million in the Vietnam factory project[76]. - The company has established a stable cooperative relationship with major suppliers, with procurement prices negotiated based on market average levels[38]. - The company has made several announcements regarding capital changes and shareholder meetings in April and May 2020[126]. Shareholder Information - The company issued 24,000,000 shares of RMB ordinary stock (A shares) at a price of 17.32 RMB per share on April 17, 2020[132]. - After the issuance, the total number of shares increased from 72,000,000 to 96,000,000, representing a 33.33% increase[130]. - Guangdong Jianyi Investment Co., Ltd. holds 52.08% of the shares, making it the largest shareholder[136]. - The company has not engaged in any share buyback activities during the reporting period[133]. - The total number of shareholders at the end of the reporting period is not specified, but the top 10 shareholders are detailed[136]. Risks and Challenges - The company faced risks related to high customer concentration, with the top five customers accounting for a significant portion of sales[94]. - The company faces risks from international political relations and local regulations, particularly highlighted by the ongoing tensions between China and India, which have impacted operations in India[95]. - The gross margin is declining due to the increasing revenue share from lower-margin finished headphones, which poses a risk to overall profitability if not addressed[98]. - The company plans to enhance its product structure and improve internal management to counteract the declining gross margin trend[98]. Compliance and Governance - The financial statements were approved for release by the board of directors on August 24, 2020, ensuring compliance with regulatory requirements[189]. - The financial report for the first half of 2020 was not audited[152]. - The company has not engaged in entrusted financial management during the reporting period[123]. - The company is not classified as a key pollutant discharge unit and has not experienced major safety or environmental incidents[125].

2020 年 04 月 1 广东朝阳电子科技股份有限公司 2020 年第一季度报告全文 广东朝阳电子科技股份有限公司 2020 年第一季度报告全文 第一节 重要提示 广东朝阳电子科技股份有限公司 2020 年第一季度报告 2020-005 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。 公司负责人沈庆凯、主管会计工作负责人徐林浙及会计机构负责人(会计主 管人员)唐校珍声明：保证季度报告中财务报表的真实、准确、完整。 2 广东朝阳电子科技股份有限公司 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 □ 适用 √ 不适用 公司报告期不存在将根据《公开发行证券的公司信息披露解释性公告第 1 号——非经常性损益》定义、列举的非经常性损益 项目界定为经常性损益的项目的情形。 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | | --- | --- | --- | ...