Financial Performance - The company's revenue for Q3 2021 was ¥267,583,421.30, a decrease of 31.43% compared to the same period last year[3]. - The net profit attributable to shareholders was -¥61,029,075.18, representing a decline of 1,191.07% year-over-year[3]. - The net profit after deducting non-recurring gains and losses was -¥63,241,643.45, a decrease of 3,568.69% compared to the previous year[3]. - The company reported a net loss attributable to shareholders of ¥200,695,804.12 for the period, compared to a profit in the same period last year[31]. - The total operating revenue for the current period is approximately CNY 820.22 million, compared to CNY 1,009.60 million in the previous period, reflecting a decrease of about 18.7%[34]. - The net profit for the current period is a loss of approximately CNY 149.39 million, compared to a profit of CNY 51.20 million in the previous period[34]. - The total comprehensive income attributable to the parent company for the current period is a loss of approximately CNY 149.71 million, compared to a profit of CNY 51.51 million in the previous period[37]. Cash Flow and Assets - The operating cash flow for the year-to-date period was ¥42,469,742.32, an increase of 250.40% compared to the same period last year[3]. - The net cash flow from operating activities decreased by 28,238,526.23, reflecting a decline of 250.40% compared to the previous year[9]. - The net cash flow from operating activities was $42,469,742.32, a significant improvement compared to a negative cash flow of $28,238,526.23 in the previous period, indicating a recovery in operational efficiency[41]. - Total cash inflow from operating activities amounted to $878,494,351.01, while cash outflow was $836,024,608.69, resulting in a positive net cash flow[41]. - Cash and cash equivalents at the end of the period decreased to $472,666,982.66 from $561,595,428.82, reflecting a net decrease of $180,779,866.39[44]. - The company invested $307,646,586.65 in fixed assets, intangible assets, and other long-term assets, which is an increase from $180,409,059.75 in the previous period[41]. Liabilities and Equity - Total liabilities rose to ¥1,292,572,405.07 from ¥1,084,643,295.89, indicating an increase of approximately 19.2%[30]. - The company's equity attributable to shareholders decreased to ¥1,317,057,731.99 from ¥1,517,746,875.84, a decline of about 13.2%[30]. - Total liabilities amounted to CNY 1,084,643,295.89, a decrease of CNY 10,631,424.29 from the previous total of CNY 1,095,274,720.18[51]. - Non-current liabilities totaled CNY 64,569,566.53, compared to CNY 74,398,306.72 previously, reflecting a decrease of CNY 9,828,740.19[51]. - Total equity attributable to shareholders reached CNY 1,517,746,875.84, a slight decrease of CNY 66,602.74 from CNY 1,517,813,478.58[51]. Investments and Subsidiaries - The company plans to raise up to RMB 150 million through a private placement, with the funds allocated to various projects including RMB 62.19 million for the medium-sized backlight source project and RMB 34.36 million for the deep processing of LCD panel glass[16]. - The total investment for the medium-sized backlight source project is RMB 73.16 million, while the total investment for the LCD panel glass deep processing project is RMB 39.14 million[17]. - The company established a wholly-owned subsidiary, Hefei Baoming Optoelectronics Technology Co., Ltd., with an investment of RMB 100 million[18]. - A new subsidiary, Shenzhen Baoming New Materials Technology Co., Ltd., was established in partnership with an individual investor, expanding the company's product offerings[19]. - The company has invested in a new wholly-owned subsidiary in Ganzhou, Jiangxi Province, focusing on new materials technology research and development[20]. - Shanghai Baoming Automotive Technology Co., Ltd. was established with a registered capital of RMB 10 million, with the company holding 55% of the shares[21]. - The company has acquired land use rights in Longhua District, Shenzhen, through a bidding process, furthering its expansion plans[23]. Research and Development - Research and development expenses rose to approximately CNY 72.24 million, up from CNY 59.06 million, indicating an increase of about 22.3%[34]. - The company plans to continue focusing on research and development to drive future growth and innovation in its product offerings[36]. Other Financial Metrics - The company reported a significant increase in long-term borrowings, rising by 180.91% to ¥154,500,000.00 due to new loans from banks[6]. - The company experienced a 33.53% decrease in business tax and additional fees, amounting to ¥3,879,287.38, attributed to reduced revenue[9]. - The company recorded an asset impairment loss of -¥27,666,808.87, a drastic increase of 1,403.95% due to lower sales prices of certain products[9]. - The total operating costs increased to approximately CNY 987.48 million from CNY 970.63 million, representing an increase of about 1.8%[34]. - The company reported a significant increase in financial expenses, with interest expenses rising to approximately CNY 12.66 million from CNY 11.46 million, an increase of about 10.5%[34]. - The company experienced a credit impairment loss of approximately CNY 1.15 million, compared to a gain of CNY 0.19 million in the previous period[34].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥552,640,687.45, a decrease of 10.78% compared to ¥619,380,725.53 in the same period last year[26]. - The net profit attributable to shareholders of the listed company was -¥88,681,119.91, representing a decline of 293.15% from ¥45,912,547.53 in the previous year[26]. - The basic and diluted earnings per share were both -¥0.49, a decrease of 211.36% compared to ¥0.44 in the same period last year[26]. - The weighted average return on net assets was -6.02%, down from 3.88% in the previous year[26]. - The company reported a basic earnings per share of -0.49 yuan, down 211.36% from the previous year[51]. - The gross profit margin for the display device manufacturing sector was -1.32%, a decrease of 21.16% year-on-year[68]. Cash Flow and Assets - The net cash flow from operating activities increased by 30.23% to ¥97,155,921.12, compared to ¥74,600,930.37 in the same period last year[26]. - The total assets at the end of the reporting period were ¥2,602,505,659.19, a slight increase of 0.21% from ¥2,597,114,364.54 at the end of the previous year[26]. - The net assets attributable to shareholders of the listed company decreased by 9.20% to ¥1,378,086,807.17 from ¥1,517,746,875.84 at the end of the previous year[26]. - Cash and cash equivalents at the end of the reporting period were CNY 713,393,177.56, accounting for 27.41% of total assets[73]. - Total current assets decreased from CNY 1,709,003,496.83 as of December 31, 2020, to CNY 1,612,308,947.23 as of June 30, 2021, a decline of approximately 5.66%[191]. - Total liabilities increased from CNY 1,084,643,295.89 to CNY 1,229,363,767.43, reflecting an increase of approximately 13.38%[194]. Market and Industry Insights - The company is focused on the LED backlight source and capacitive touch screen markets, which are essential components in various smart devices[38]. - The global smartphone shipment in 2020 was 1.292 billion units, a year-on-year decline of 5.9%[36]. - The automotive display market is expected to grow significantly due to the increasing demand for new energy vehicles, with projections indicating that by 2025, new energy vehicles will account for 20% of total new car sales[37]. - The company’s operating profit loss was primarily due to intensified competition in the mobile backlight source industry, leading to continued low sales prices[51]. - The automotive industry's demand for in-car displays has significantly increased due to trends in smart driving and interactive navigation, contributing to the company's revenue growth potential[100]. Research and Development - The company plans to increase R&D investment to maintain its leading position in the industry, focusing on mid-size backlight products and touch screen processing to enhance market share[52]. - As of June 30, 2021, the company has obtained 14 invention patents and 107 utility model patents, showcasing its strong R&D capabilities in LED backlight and capacitive touch screen products[53]. - The company’s R&D expenditure increased by 20.66% to ¥45,678,638.54 from ¥37,856,178.97 in the previous year[66]. Strategic Partnerships and Market Position - The company has entered the supply chains of major clients such as BOE, TCL Group, and Samsung, indicating strong market recognition[38]. - The company has established deep partnerships with major manufacturers like OPPO, vivo, and Xiaomi to develop cutting-edge products, particularly in Mini LED technology[54]. - The company has formed strategic partnerships with major panel manufacturers, enhancing its customer base and reducing operational risks[58]. Risks and Challenges - The management highlighted potential risks in the company's operations and emphasized the importance of monitoring market conditions[6]. - The company is facing intensified competition in the backlight display module industry due to the rapid development of the domestic LCD display industry and the promotion of OLED technology[90]. - The global COVID-19 pandemic has negatively impacted the company's performance, leading to reduced orders and lower unit prices for mobile backlight products[99]. - The company has identified risks related to reliance on imported raw materials and is taking measures to strengthen supply chain management and reduce dependency[96]. Corporate Governance and Shareholder Matters - The company maintains a strong commitment to protecting shareholder rights and has established a robust corporate governance structure[121]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[125]. - The company has not distributed cash dividends or bonus shares for the reporting period, nor has it increased capital through reserves[108]. - The company did not undergo any changes in controlling shareholders during the reporting period[175]. Subsidiaries and Investments - The company reported a total revenue of 245,111,029.04 CNY from its subsidiary Huizhou Baoming Precision Technology Co., Ltd., but incurred a net loss of 6,495,246.63 CNY[87]. - The subsidiary Ganzhou Baoming Display Technology Co., Ltd. generated a revenue of 92,768,319.38 CNY with a net profit of 6,639,546.53 CNY[87]. - The company established a new subsidiary, Hefei Baoming Optoelectronics Technology Co., Ltd., which did not have a significant impact on overall operations and performance[87].

Financial Performance - The company's revenue for Q1 2021 was ¥232,073,266.99, a decrease of 14.83% compared to ¥272,487,753.58 in the same period last year[9] - The net profit attributable to shareholders was -¥33,989,689.38, representing a decline of 387.16% from ¥11,836,443.04 in the previous year[9] - The basic and diluted earnings per share were both -¥0.25, a decrease of 327.27% from ¥0.11 in the previous year[9] - The net profit for the current period is CNY -33,666,873.91, compared to a net profit of CNY 11,723,317.84 in the previous period, indicating a significant decline[70] - The operating profit for the current period was -¥33,665,220.62, compared to a profit of ¥8,704,543.82 in the previous period, indicating a significant decline[77] - The net profit for the current period was -¥27,359,334.24, down from ¥8,491,589.40 in the previous period, reflecting a substantial loss[79] - The total comprehensive income for the current period was -¥27,359,334.24, compared to ¥8,491,589.40 in the previous period[80] - Basic earnings per share are projected to be CNY -0.18, down 140.83% from CNY 0.44 in the previous year[36] Cash Flow and Liquidity - The net cash flow from operating activities increased significantly by 262.06%, reaching ¥189,080,251.16 compared to ¥52,223,048.88 in the same period last year[9] - The cash flow from operating activities was ¥189,080,251.16, an increase from ¥52,223,048.88 in the previous period[84] - The net cash flow from financing activities decreased by 394.11% to -¥251,100,277.88, primarily due to an increase in loan repayments[24] - The total cash and cash equivalents at the end of the period stood at 84,023,210.40 CNY, compared to 64,235,597.82 CNY in the previous period, indicating a positive cash position despite the net decrease[91] - The company reported a net decrease in cash and cash equivalents of -85,331,438.18 CNY, contrasting with an increase of 33,383,749.70 CNY in the previous period, indicating liquidity challenges[91] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,528,918,552.16, down 2.63% from ¥2,597,114,364.54 at the end of the previous year[9] - The company's equity attributable to shareholders was CNY 1.48 billion, a decrease from CNY 1.52 billion[55] - Total liabilities were CNY 1.05 billion, down from CNY 1.08 billion at the end of 2020[52] - Current assets totaled CNY 1.61 billion, down from CNY 1.71 billion at the end of the previous year[46] - Total operating costs for the current period amount to CNY 273,172,982.20, an increase of 1.1% from CNY 268,883,008.55 in the previous period[67] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 19,413[13] - The largest shareholder, Shenzhen Baoming Investment Co., Ltd., held 30.70% of the shares, totaling 42,360,000 shares[14] - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[18] Government Support and Investments - The company received government subsidies totaling ¥832,096.22 during the reporting period[10] - The company plans to establish a wholly-owned subsidiary with an investment of ¥100 million, approved by the board on January 3, 2021[25] - The company intends to conduct a non-public offering of A-shares, raising up to ¥150 million for various projects, including backlight source construction and LCD panel glass processing[25] Expenses and Cost Management - The company's management expenses rose by 41.36% to ¥11,685,238.47, mainly due to an increase in employee compensation[21] - The financial expenses decreased by 68.96% to ¥1,025,837.36, attributed to an increase in interest income from bank deposits[21] - Research and development expenses for the current period are CNY 20,063,551.20, up from CNY 16,105,166.96 in the previous period, reflecting a 24.2% increase[67] - The company incurred financial expenses of ¥2,326,119.34, which is comparable to ¥2,344,054.16 in the previous period[74] Market Conditions - Increased R&D and management investments have led to higher expenses, contributing to the expected loss[36] - Intensified industry competition has resulted in continued low prices for mobile backlight sources, further impacting profitability[36]

Financial Performance - The company's operating revenue for 2020 was CNY 1,378,393,381.42, a decrease of 24.98% compared to CNY 1,837,373,967.10 in 2019[23] - The net profit attributable to shareholders for 2020 was CNY 30,887,181.78, down 78.61% from CNY 144,376,849.46 in the previous year[23] - The net cash flow from operating activities was negative at CNY -85,177,850.97, a decline of 145.01% compared to CNY 189,237,475.27 in 2019[23] - Basic earnings per share for 2020 were CNY 0.26, representing an 81.43% decrease from CNY 1.40 in 2019[23] - The company reported a significant decline in net profit after deducting non-recurring gains and losses, which was CNY 10,026,386.61, down 92.52% from CNY 134,096,967.35 in 2019[23] - The weighted average return on net assets for 2020 was 2.83%, a decrease of 17.24% from 20.07% in 2019[23] - The gross margin for LED backlight products decreased to 12.78%, down 8.01% from the previous year, primarily due to reduced orders and intensified competition[70] - The company reported a cash dividend payout ratio of 165.26% of its net profit attributable to ordinary shareholders for 2020[131] Assets and Investments - Total assets at the end of 2020 increased by 37.81% to CNY 2,597,114,364.54 from CNY 1,884,609,439.40 at the end of 2019[23] - The company's net assets attributable to shareholders rose by 94.60% to CNY 1,517,746,875.84 from CNY 779,926,374.19 in 2019[26] - Fixed assets increased by 31.47% year-on-year, mainly due to the completion of construction projects in the Ganzhou Industrial Park and significant asset purchases[44] - Cash and cash equivalents surged by 94.95% year-on-year, mainly due to the public issuance of common stock and fundraising[44] - The total investment amount for the reporting period was 288,939,342.25 yuan, reflecting a 73.14% increase compared to the previous year[99] - Total fundraising amount received in 2020 was 726.075 million yuan, with 323.4881 million yuan utilized by December 31, 2020[105] Research and Development - The company invested CNY 83.57 million in R&D, accounting for 6.06% of operating revenue, and received 20 patents in 2020[64] - The company has established a comprehensive R&D system and has invested in advanced equipment for optical simulation and thermal analysis, enhancing its competitive edge in LED backlight and capacitive touch screen products[45][47] - The company is focusing on developing new technologies in LED backlight and capacitive touch screens, including Mini LED technology and flexible touch screen technology[84] - The number of R&D personnel increased by 28.39% to 199, enhancing the company's innovation capabilities[85] Sales and Market Strategy - The company employs a "big customer strategy" in sales, focusing resources on maintaining relationships with established major clients[43] - The company has established long-term stable partnerships with numerous well-known domestic consumer electronics brands and will actively explore new domestic and international customers[120] - The company reported a significant increase in external sales, with a growth rate of 1,903.06% in foreign sales compared to the previous year[67] - The company plans to expand the production scale of LED backlight sources and capacitive touch screens over the next three years to maintain its competitive position[117] Operational Challenges and Risks - The company has indicated potential risks in its future development strategy, which may affect its operational goals[6] - The company recognizes the risk of intensified industry competition and plans to enhance its product market competitiveness through improved production automation and quality control[122] - The company faces risks from potential product price declines due to rapid updates in the mobile smart terminal industry, which could adversely affect profitability[125] Future Outlook and Plans - The company provided a future outlook, projecting a revenue growth of 25% for the next fiscal year, aiming for 625 million RMB[163] - The company aims to enhance its management capabilities by implementing traceable quality management models and introducing advanced management systems[117] - The company will focus on developing Mini LED technology and aims to diversify its backlight product offerings, enhancing competitiveness and market position[120] - The company plans to increase R&D investment by 30% in the upcoming year to foster innovation and product development[163] Shareholder and Governance Policies - The company has committed to not transferring or managing its shares for 36 months following the IPO, ensuring stability for shareholders[135] - The company has a share reduction commitment that limits annual transfers to 25% of the total shares held during the tenure and for 6 months post-resignation[155] - The company will not repurchase shares held by shareholders during the lock-up period[149] - The company has established a commitment to ensure that any transfer of shares obtained from non-compliance will revert to the issuer[152]

Financial Performance - Operating revenue decreased by 24.35% to CNY 390,216,741.10 compared to the same period last year[8] - Net profit attributable to shareholders decreased by 88.68% to CNY 5,593,517.04 compared to the same period last year[8] - Basic earnings per share decreased by 91.52% to CNY 0.0405 compared to the same period last year[8] - Total revenue for the third quarter was CNY 390,216,741.10, a decrease of 24.3% compared to CNY 515,795,168.81 in the same period last year[65] - The company's operating revenue for the current period is ¥383,653,089.04, a decrease of 26.1% compared to ¥519,205,124.74 in the previous period[74] - The net profit attributable to the parent company is ¥5,593,517.04, compared to ¥49,391,936.89 in the previous period, reflecting a significant decline[74] - The total profit for the current period is ¥2,293,472.32, while the previous period's total profit was ¥55,581,039.77, indicating a substantial decrease[74] - The operating profit for the current period is ¥2,016,267.55, compared to ¥55,465,070.00 in the previous period, showing a drastic reduction[74] - The company reported a net profit of ¥5,508,339.62 for the current period, down from ¥49,442,178.60 in the previous period[74] - Net profit for the current period is ¥51,204,645.92, a decline of 58.1% compared to ¥122,028,427.01 in the previous period[86] Assets and Liabilities - Total assets increased by 34.32% to CNY 2,531,355,870.93 compared to the end of the previous year[8] - The total current assets as of September 30, 2020, amount to CNY 1,744,255,302.84, compared to CNY 1,227,885,955.10 at the end of the previous period[48] - The total liabilities as of September 30, 2020, amount to CNY 998,856,004.13, compared to CNY 1,110,247,538.39 at the end of the previous period[54] - The company's total assets increased to CNY 2,290,890,317.67 from CNY 1,631,291,394.22, reflecting a growth of 40.3% year-over-year[64] - Current assets totaled CNY 2,069,042,784.41, significantly up from CNY 1,374,380,433.44, marking an increase of 50.4%[60] - The total liabilities decreased to CNY 692,259,970.22 from CNY 796,660,068.62, a reduction of 13.1%[64] Cash Flow - Net cash flow from operating activities was negative at CNY -102,839,456.60, a decrease of 193.58% compared to the same period last year[8] - Cash inflow from operating activities totaled approximately ¥1.19 billion, down from ¥1.33 billion year-over-year, reflecting a decrease of about 9.8%[99] - The net cash flow from operating activities was negative at approximately -¥28.24 million, an improvement from -¥35.64 million in the previous period[99] - Cash outflow from investing activities was approximately ¥180.41 million, compared to ¥144.86 million in the previous period, representing an increase of about 24.5%[102] - The net cash flow from financing activities was approximately ¥689.70 million, significantly higher than ¥201.44 million in the previous period, indicating an increase of about 242%[102] - The total cash and cash equivalents at the end of the period amounted to approximately ¥561.60 million, up from ¥99.15 million in the previous period, reflecting a substantial increase[102] Shareholder Information - The total number of shareholders at the end of the reporting period was 27,106[12] - The largest shareholder, Shenzhen Baoming Investment Co., Ltd., holds 30.70% of the shares[13] Government Subsidies and Other Income - The company received government subsidies totaling CNY 11,447,567.76 during the reporting period[8] - The company received government subsidies, resulting in a 121.79% increase in other income to ¥11,447,567.76 from ¥5,161,482.04[25] Research and Development - Research and development expenses amounted to CNY 21,206,195.28, a decrease of 8.7% compared to CNY 23,218,263.68 in the previous year[68] - The company's research and development expenses for the current period are ¥15,490,687.18, slightly down from ¥16,409,747.16 in the previous period[74] - Research and development expenses for the current period are ¥59,062,374.25, a decrease of 15.8% from ¥70,161,214.70 in the previous period[82] Financial Expenses - Financial expenses decreased by 51.78% to ¥8,673,562.26 from ¥17,986,243.98 due to reduced borrowings and corresponding interest expenses[25] - The company incurred financial expenses of ¥367,773.81, a significant decrease from ¥6,479,418.44 in the previous period[74] - Financial expenses for the current period are ¥8,673,562.26, down 51.8% from ¥17,986,243.98 in the previous period[82] Taxation - The company has reported a tax expense of -¥3,214,867.30 for the current period, contrasting with a tax expense of ¥6,138,861.17 in the previous period[74] - Tax expenses for the current period are ¥5,835,719.85, a decrease of 41.5% from ¥9,963,819.42 in the previous period[82] Other Financial Information - The company does not have any non-recurring gains and losses as defined by the relevant regulations[8] - There are no significant contracts or entrusted financial management activities reported during the period[39][40] - There are no violations regarding external guarantees or non-operating fund occupation by controlling shareholders[40][43] - The company did not apply the new revenue and leasing standards for the financial statements starting from 2020[109] - The third quarter report was not audited[109]