Financial Performance - The company's operating revenue for the first half of 2021 was CNY 3,254,522,905.27, representing a 4.66% increase compared to CNY 3,109,631,417.91 in the same period last year[26]. - The net profit attributable to shareholders of the listed company was CNY 467,174,725.22, a decrease of 4.92% from CNY 491,352,266.47 in the previous year[26]. - The net cash flow from operating activities was CNY 214,744,065.66, down 63.01% from CNY 580,536,575.69 in the same period last year[26]. - The total assets at the end of the reporting period were CNY 10,782,255,898.01, an increase of 9.02% from CNY 9,889,974,875.69 at the end of the previous year[26]. - The net assets attributable to shareholders of the listed company were CNY 7,248,748,138.26, up 3.16% from CNY 7,026,648,699.07 at the end of the previous year[26]. - The basic earnings per share for the reporting period was CNY 0.1903, a decrease of 5.61% from CNY 0.2016 in the same period last year[26]. - The diluted earnings per share was CNY 0.1892, down 3.81% from CNY 0.1967 in the previous year[26]. - The weighted average return on net assets was 6.47%, a decrease of 1.04% from 7.51% in the same period last year[26]. Business Segments and Market Position - The automotive electronics segment has established a leading position, providing key components such as vehicle sensors and display modules, with a strong order pipeline for the next three to five years[36]. - The ultra-thin LCD panel and UTG business segments are leading in market share, with successful collaborations with major panel manufacturers like Sharp and LGD, and ongoing development in flexible foldable glass[37]. - The wearable electronics segment has become an industry leader, supplying high-end products to major clients, including exclusive models for Huawei and Xiaomi[38]. - The VR display module business has achieved high production standards, with core technology indicators such as a refresh rate of 90Hz and single-eye resolution of 1832 x 1920[38]. - The company is actively expanding its high-end NB and PAD module business, collaborating with top electronic clients like Lenovo and HP[41]. - The company has maintained a strong competitive edge in the consumer electronics sector, focusing on high-end and mid-range product offerings[38]. Research and Development - Research and development investment rose significantly by 39.96% to ¥169,848,956.86, compared to ¥121,353,081.69 in the previous year, reflecting the company's commitment to innovation[53]. - The company is leveraging its technological advantages to enhance its product offerings and expand its market presence in various segments[36]. - The company is focusing on the development of Mini LED, Micro LED display modules, and new generation flexible UTG technologies to strengthen its technological advantages[42]. - The company has achieved a high-quality production system covering consumer and automotive-grade products, enhancing customer cooperation and loyalty[45]. - The company has a professional team with over 20 years of experience in the key components of touch display technology, contributing to its advanced manufacturing capabilities[46]. Financial Management and Investments - The company has not reported any significant risks affecting its normal operations[6]. - The company has not reported any discrepancies in net profit and net assets between international and Chinese accounting standards during the reporting period[28]. - The company has not classified any non-recurring gains and losses as recurring during the reporting period[32]. - The total investment during the reporting period was 555,982,236.27 yuan, representing a 77.45% increase compared to the same period last year[70]. - The company invested 70,084,821.00 yuan in the integrated touch display module project, with a cumulative actual investment of 1,032,105,451.98 yuan[70]. Commitments and Guarantees - The controlling shareholder has committed to not transferring or managing shares for 36 months from the date of listing, ensuring stability in shareholding[124]. - The company has fulfilled its commitments regarding the employee stock ownership plan, with the controlling shareholder continuing to bear the related principal yield commitments[112]. - The company has reported that all commitments made during the asset restructuring process have been fulfilled as of the latest reporting period[120]. - The company has provided guarantees totaling 6,000 million RMB to Wuhu Hongjing Electronics Co., Ltd., with actual guarantees amounting to 1,000 million RMB and 1,850 million RMB[150]. - The total approved external guarantee amount during the reporting period was 6,000 million, with actual guarantees amounting to 5,850 million, representing a utilization rate of 97.5%[156]. Future Outlook - Future outlook includes plans for market expansion and potential mergers and acquisitions to enhance competitive positioning[155]. - New product development initiatives are underway, focusing on innovative technologies to meet evolving market demands[155]. - The company aims to improve operational efficiency through strategic partnerships and collaborations in the technology sector[155]. - The management has set performance guidance for the upcoming quarters, projecting a revenue growth of approximately 15% year-over-year[155]. - The company is committed to enhancing its research and development capabilities to drive future growth and innovation[155].

Financial Performance - The company's operating revenue for Q1 2021 was ¥1,553,804,997.05, representing a 15.19% increase compared to ¥1,348,956,788.18 in the same period last year[7]. - The net profit attributable to shareholders was ¥231,546,093.76, up 20.06% from ¥192,854,351.60 year-on-year[7]. - The net profit after deducting non-recurring gains and losses was ¥217,319,120.63, reflecting a 17.94% increase from ¥184,260,026.17 in the previous year[7]. - Basic earnings per share increased to ¥0.0943, a rise of 19.07% from ¥0.0792 in the previous year[7]. - Diluted earnings per share rose to ¥0.0938, marking a 19.49% increase from ¥0.0785 year-on-year[7]. - The company reported a total comprehensive income of CNY 236,867,862.70 for Q1 2021, up from CNY 197,444,572.63 in Q1 2020, an increase of 19.9%[91]. - The net profit for the first quarter of 2021 was CNY 205,611,498.36, an increase from CNY 153,214,270.14 in the same period last year, representing a growth of approximately 34.2%[93]. - Operating profit reached CNY 244,197,882.52, compared to CNY 182,419,205.59 in the previous year, indicating a year-over-year increase of about 34%[93]. Cash Flow and Assets - The net cash flow from operating activities decreased by 40.92% to ¥169,396,149.77, down from ¥286,727,023.10 in the same period last year[7]. - As of March 31, 2021, the company's cash and cash equivalents amounted to ¥1,351,722,453.06, a decrease from ¥1,703,711,351.68 on December 31, 2020, representing a decline of approximately 20.6%[81]. - The total current assets decreased to ¥3,628,146,530.27 from ¥3,869,318,892.89, indicating a reduction of about 6.2%[81]. - The accounts receivable increased to ¥1,464,876,829.18 from ¥1,394,884,551.88, reflecting an increase of approximately 5%[81]. - The inventory balance rose to ¥434,746,024.05 from ¥409,574,207.49, showing an increase of around 6.1%[81]. - The company’s cash flow from operating activities showed improvement, with a net cash inflow of CNY 430,464.76 from asset disposal[90]. - The company’s cash and cash equivalents were CNY 626,037,181.30, compared to CNY 904,565,839.31, reflecting a decrease of approximately 30.73%[86]. - The ending balance of cash and cash equivalents was $626,008,441.66, down from $705,381,715.47 in the previous period[101]. Investments and Expenses - The company reported a 55.96% increase in R&D expenses, driven by increased investment in research projects[23]. - The company’s investment income increased by 75.19% year-on-year, primarily from long-term equity investments[23]. - The cash paid for the purchase of fixed assets and intangible assets increased by 65.83% year-on-year, reflecting the ongoing construction of new subsidiaries[25]. - R&D expenses for Q1 2021 were CNY 70,267,739.69, which is a significant increase of 56.0% compared to CNY 45,054,352.16 in the previous year[89]. Liabilities and Equity - The total liabilities decreased to CNY 1,595,482,366.69 from CNY 1,713,965,811.86, indicating a reduction of approximately 6.9%[88]. - Owner's equity increased to CNY 7,388,855,122.15 from CNY 7,152,274,592.17, showing a growth of approximately 3.31%[85]. - The total amount of raised funds was ¥121,731.79 million, with no changes in usage during the reporting period[72]. Risks and Challenges - The company has faced risks related to accounts receivable, which have historically been high, and is implementing measures to enhance collection efforts and manage customer financial conditions[28]. - The company is addressing risks from declining customer demand due to the de-globalization trend and the economic slowdown caused by the COVID-19 pandemic, by increasing focus on top domestic and international customers[29]. - The company is exposed to foreign exchange rate fluctuations as its import and export transactions are primarily settled in USD, and it is taking measures to mitigate this risk[30]. - The company is facing risks from rising raw material prices and is working to establish strategic partnerships with key suppliers to secure resources[30]. - The company has implemented a group management model to mitigate risks associated with goodwill impairment from acquisitions, ensuring efficient management of subsidiaries[30]. Project Developments - The company is accelerating the construction of key projects, including the Changxin display project and G4.5 generation photolithography project, with expected production within the half-year[25]. - The company reported that the touch display module integration project for smart wearables has received a total investment of ¥5,607.7 million, with a cumulative investment of ¥101,809.76 million, achieving a progress rate of 82.77%[72].

Financial Performance - The company's operating revenue for 2020 was ¥6,843,956,121.41, representing a 13.62% increase compared to ¥6,023,777,582.46 in 2019[30]. - The net profit attributable to shareholders for 2020 was ¥834,231,659.93, a decrease of 1.33% from ¥845,436,642.81 in 2019[30]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥775,263,594.78, which is a 6.62% increase from ¥727,114,273.59 in 2019[30]. - The company's total assets at the end of 2020 were ¥9,889,974,875.69, reflecting a 9.66% increase from ¥9,018,621,203.73 at the end of 2019[30]. - The net assets attributable to shareholders increased by 11.46% to ¥7,026,648,699.07 at the end of 2020, compared to ¥6,304,237,116.90 at the end of 2019[30]. - The basic earnings per share for 2020 was ¥0.34, down 8.11% from ¥0.37 in 2019[30]. - The diluted earnings per share for 2020 was also ¥0.34, a decrease of 2.86% from ¥0.35 in 2019[30]. - The net cash flow from operating activities for 2020 was ¥1,613,905,053.12, an increase of 8.85% from ¥1,482,730,757.72 in 2019[30]. - The company reported a weighted average return on equity of 12.58% for 2020, down from 16.09% in 2019[30]. - Non-operating income for 2020 amounted to ¥58,968,065.15, a decrease of 50.16% compared to ¥118,322,369.22 in 2019[41]. Investment and R&D - Research and development expenses increased by 28.08% to ¥267,743,962.12, driven by increased investment in R&D projects[85]. - The company invested approximately ¥267.74 million in R&D in 2020, representing 3.91% of its operating revenue, an increase from 3.47% in 2019[98]. - The number of R&D personnel decreased to 1,519 in 2020, accounting for 11.48% of the total workforce, down from 11.69% in 2019[98]. - The company has initiated several R&D projects, including ultra-thin glass technology and large-size automotive curved touch display modules[86]. - The company is focusing on the development of new technologies such as Mini LED and Micro LED display modules, aiming to expand its technological moat and maintain industry leadership[56]. Market Position and Strategy - The company maintained a leading position in the automotive electronics sector, providing key components for high-end electric vehicle clients[45]. - The ultra-thin LCD panel business remains the largest in the domestic market, recognized by major global panel manufacturers[46]. - The wearable display module business has positioned the company as an industry leader, supplying major international clients[47]. - The company has established a comprehensive business chain from conductive glass to integrated touch display modules, enhancing customer cooperation and solidifying its competitive advantage[53]. - The company targets mid-to-high-end clients, including major panel manufacturers and giants in consumer and automotive electronics, ensuring stable and continuous business relationships[54]. - The company has a strong market judgment and innovation capability, with significant experience in automotive touch display modules and advanced display technologies, maintaining a high market share[55]. Risk Management - The company emphasizes the importance of managing accounts receivable risks, which have historically been high, and is implementing measures to enhance collection efforts and customer compliance[6]. - The company is actively managing foreign exchange risks associated with its import and export business, primarily settled in USD, by matching foreign currency income and expenses[10]. - The company is addressing the risk of rising raw material prices by strengthening partnerships with key suppliers and diversifying its supply chain[13]. - The company is adopting a group management model to mitigate goodwill impairment risks from acquisitions, ensuring efficient operation of subsidiaries[13]. - The company acknowledges potential risks from declining customer demand due to geopolitical tensions and the impact of the COVID-19 pandemic, and plans to focus on top-tier domestic and international clients[10]. Cash Flow and Financial Health - The company reported a significant increase in cash and cash equivalents, growing by 74.17% from the previous year[50]. - The net cash flow from financing activities decreased by 67.56% in 2020 compared to 2019, primarily due to a decline in bank borrowings[102]. - The net increase in cash and cash equivalents was 730,610,526.21, contrasting with a decrease of 221,642,282.92 in the previous year[102]. - The total amount of raised funds from 2015 and 2019 was CNY 239,726.23 million, with CNY 211,254.24 million utilized by the end of the reporting period[117]. - As of December 31, 2020, the company had CNY 7,572.15 million of unutilized raised funds, with 5.56% of the total raised funds being repurposed[117]. Project Developments - The company has completed 200,000 bending tests for its Ultra Thin Glass (UTG) products, which are crucial for foldable mobile devices, indicating readiness for increased production[69]. - The company is preparing for increased production capacity in flexible OLED mobile display modules, leveraging its existing advantages in the LCD high-end display module sector[71]. - The company has established a holding subsidiary, Changxin Display, to enhance core competitiveness and management efficiency, further solidifying its leading position in various business segments[68]. - The company plans to terminate the small-size touch display integration project and redirect the remaining funds to enhance liquidity, as existing capacity meets market demand[124]. - The total investment commitment for the large-size thin touch display integration project was CNY 79,420 million, with CNY 29,800.23 million invested by the end of the reporting period[121].

Financial Performance - Net profit attributable to shareholders was ¥305,339,795.06, representing a year-on-year growth of 12.74%[9] - Operating revenue for the period was ¥1,880,672,227.14, up 32.89% from the same period last year[9] - The company reported a net profit of ¥796,692,061.53 for the year-to-date, reflecting an 11.89% increase compared to the same period last year[9] - Basic earnings per share rose to ¥0.1250, a 6.11% increase year-on-year[9] - The company reported a net profit for the current period of ¥510,137,850.67, representing a 20.6% increase from ¥422,762,238.57 in the previous period[82] - The total profit for the current period was ¥360,206,779.86, compared to ¥326,528,723.41 in the previous period, reflecting an increase of about 10.3%[57] - The net profit for the third quarter was CNY 187,766,245.26, compared to CNY 146,643,106.24 in the same period last year, reflecting a year-over-year increase of about 27.99%[66] Revenue and Costs - Total operating revenue for the current period reached ¥1,924,406,816.15, an increase of 22.3% compared to ¥1,573,046,456.05 in the previous period[79] - Total operating costs increased to ¥1,526,550,003.01 from ¥1,073,448,495.74, marking a rise of about 42.2%[54] - The total operating costs for the quarter were CNY 4,050,410,604.14, up from CNY 3,807,922,438.95, which is an increase of approximately 6.37%[68] Assets and Liabilities - Total assets reached ¥9,703,159,796.01, an increase of 7.59% compared to the end of the previous year[9] - Total liabilities grew from ¥2,647,400,806.56 to ¥2,686,776,046.47, marking an increase of approximately 1.5%[39] - Owner's equity increased from ¥6,371,220,397.17 to ¥7,016,383,749.54, a growth of about 10.1%[42] - Current liabilities increased from ¥2,108,120,339.43 to ¥2,234,910,342.41, reflecting a rise of about 6.0%[39] - The total current assets at the end of the period amounted to approximately CNY 3.85 billion, an increase from CNY 3.20 billion at the beginning of the year[33] Cash Flow - Net cash flow from operating activities increased by 131.56% to ¥625,936,691.88[9] - Cash flow from operating activities for the current period was ¥1,206,473,267.57, compared to ¥1,147,431,605.95 in the previous period, indicating a growth of 5.1%[85] - Cash flow from investing activities showed a net outflow of ¥306,838,615.66, an improvement from a net outflow of ¥872,305,199.13 in the previous period[88] - Cash inflow from financing activities decreased to ¥739,500,000.00 from ¥2,430,651,331.90, a drop of about 69%[95] Research and Development - Research and development expenses increased by 41.70% compared to the same period last year, mainly due to increased investment in R&D during the reporting period[21] - Research and development expenses surged to ¥75,238,569.61 from ¥12,947,768.21, indicating a substantial increase of around 481.5%[54] - Research and development expenses increased significantly to ¥96,954,464.55, compared to ¥38,698,029.31 in the previous period, reflecting a growth of 150.1%[79] Shareholder Information - The total number of shareholders at the end of the reporting period was 190,849[13] - Major shareholder Wuhu Tieyuan Investment Co., Ltd. held 11.09% of the shares[13] Government Subsidies and Other Income - The company received government subsidies amounting to ¥43,502,178.19 during the reporting period[11] - Other income increased by 244.11% compared to the same period last year, primarily due to an increase in government subsidies related to daily operations[21]

Financial Performance - The company's operating revenue for the reporting period was ¥3,109,631,417.91, a decrease of 3.70% compared to ¥3,229,215,658.43 in the same period last year[22]. - The net profit attributable to shareholders was ¥491,352,266.47, representing an increase of 11.37% from ¥441,170,521.55 year-on-year[22]. - The net profit after deducting non-recurring gains and losses was ¥458,540,179.02, up by 6.69% compared to ¥429,781,703.81 in the previous year[22]. - The net cash flow from operating activities was ¥580,536,575.69, down 33.81% from ¥877,119,138.94 in the same period last year[22]. - The basic earnings per share increased to ¥0.2016, a rise of 5.05% from ¥0.1919[22]. - The diluted earnings per share rose to ¥0.1967, reflecting a 5.81% increase from ¥0.1859[22]. - The total assets at the end of the reporting period were ¥9,101,084,627.66, a 0.91% increase from ¥9,018,621,203.73 at the end of the previous year[22]. - The net assets attributable to shareholders increased to ¥6,597,156,082.45, up 4.65% from ¥6,304,237,116.90[22]. - The weighted average return on net assets was 7.51%, down 1.04% from 8.55% in the previous year[22]. Risk Management - The company reported a significant focus on accounts receivable management, emphasizing the importance of ensuring safety and integrity, with ongoing efforts to optimize organizational structure and enhance collection efforts[5]. - The company has maintained a strong emphasis on risk management, particularly regarding accounts receivable and foreign exchange fluctuations, to ensure stable financial performance[5][7]. - The company anticipates potential risks from declining customer demand due to the ongoing de-globalization trend led by the U.S. and the economic slowdown caused by the COVID-19 pandemic, and plans to focus on top domestic and international customers[7]. - The company faces foreign exchange rate fluctuation risks due to its export business primarily settled in USD, and will enhance analysis and research on international conditions to mitigate these risks[7]. - The company is focusing on enhancing its receivables management to mitigate risks associated with high accounts receivable levels[81]. - Foreign exchange rate fluctuations pose a risk to the company's import and export operations, with strategies in place to mitigate this risk[84]. Technological Innovation - The company is committed to continuous technological innovation, maintaining close technical communication with downstream customers to avoid product competitiveness decline due to rapid technology updates[7]. - The company is leveraging its strong technical team to drive product upgrades and maintain market advantages in the touch display industry[7]. - The company is focusing on R&D for new technologies such as flexible OLED modules, Mini LED, and Micro LED, ensuring its products remain at the forefront of industry advancements[46]. - The company has successfully mastered core technologies for flexible OLED module packaging, with mass shipments to North American consumer electronics giants underway[32]. - The company maintains a high level of R&D investment in flexible OLED panels and related technologies, focusing on projects like flexible glass covers and high-end display modules to create new profit growth points[38]. Market Position and Strategy - The company has solidified its leading position in consumer electronics, automotive electronics, and ultra-thin LCD display panels during the reporting period[32]. - The high-end LCD mobile phone touch display module business has maintained a strong market presence, supplying major clients like Huawei, OPPO, and Xiaomi, with significant contributions from 5G mobile modules[32]. - The wearable display module segment has established a leading position, providing products for top international clients such as Samsung and Fitbit, including exclusive supplies for Huawei and Xiaomi[32]. - The company aims to enhance market share and accelerate new product output through the introduction of new technologies and products[7]. - The company's strategy focuses on high-end clients, ensuring stable delivery and quality, which strengthens its competitive edge in the industry[36]. - The company is actively pursuing new technologies and market opportunities, particularly in the flexible OLED and automotive sectors, to maintain its industry leadership[38]. Investment and Financial Management - The company plans not to distribute cash dividends or issue bonus shares, indicating a focus on reinvestment[8]. - The company has adopted a group management model to mitigate goodwill impairment risks associated with acquisitions, ensuring efficient resource allocation and operational oversight of subsidiaries[8]. - The company has reduced its long-term equity investments by 1.56% due to increased investment losses from equity method accounted associates[35]. - The total investment amount for the reporting period was ¥313,308,933.84, a decrease of 33.11% compared to the same period last year, which was ¥468,397,036.47[58]. - The cumulative investment in the integrated touch display module project for smart wearables reached ¥929,062,731.12, with an actual investment of ¥279,540,938.78, representing 75.53% of the expected return[58]. Environmental Responsibility - The company has established an effective environmental risk management system and has not experienced any environmental violations or accidents as of June 30, 2020[149]. - The company’s wastewater discharge meets the standards, with chemical oxygen demand (COD) at 23.5 mg/L and ammonia nitrogen at 3.98 mg/L, both within permissible limits[148]. - The company has implemented an online monitoring system for pollutants, with data connected to the municipal platform[151]. - The company actively promotes social responsibility and sustainable development through its ISO14001 environmental management system[151]. Shareholder Information - The total number of shares increased to 2,440,146,840 shares after the conversion of 141,267,026 shares from convertible bonds during the reporting period[160]. - The proportion of limited sale shares decreased from 1.54% to 1.27%, while unlimited sale shares increased from 98.46% to 98.73%[160]. - The company issued 12,300,000 convertible bonds at a price of 100 yuan per bond, with varying interest rates over six years, starting from 0.4% in the first year to 2% in the sixth year[165]. - The company reported a total of 8,829,182 convertible bonds converted into shares by June 30, 2020[160]. - The total amount of unconverted bonds is 347,081,800 RMB, which is 28.22% of the total issuance amount[182].

Financial Performance - Total revenue for the first quarter was ¥1,348,956,788.18, a decrease of 18.61% compared to ¥1,657,302,599.33 in the same period last year[9] - Net profit attributable to shareholders was ¥192,854,351.60, an increase of 13.18% from ¥170,392,703.05 year-on-year[9] - Net profit excluding non-recurring gains and losses was ¥184,260,026.17, up 11.50% from ¥165,250,206.55 in the previous year[9] - Operating cash flow for the quarter was ¥286,727,023.10, down 13.93% from ¥333,113,718.73 in the same period last year[9] - Basic earnings per share increased to ¥0.0792, a rise of 6.88% compared to ¥0.0741 in the previous year[9] - Operating profit reached 235.34 million RMB, an increase of 10.15% year-on-year, while net profit attributable to the parent company was 192.85 million RMB, up 13.18% year-on-year[36] - The company reported a sales revenue decline due to a change in the settlement model for small and medium-sized mobile phone display modules, shifting from a Buy And Sell model to a combination of Buy And Sell and processing fee collection, with the latter's proportion increasing[40] - The total comprehensive income for the current period is ¥197,444,572.63, compared to ¥172,622,738.60 in the previous period, an increase of 14.3%[82] Assets and Liabilities - Total assets at the end of the quarter were ¥9,090,193,683.89, reflecting a 0.79% increase from ¥9,018,621,203.73 at the end of the previous year[9] - Total liabilities amounted to ¥2,480,145,566.32, down from ¥2,647,400,806.56, showing a decrease of around 6.3%[62] - Current liabilities decreased to ¥1,958,876,607.44 from ¥2,108,120,339.43, representing a reduction of approximately 7.1%[62] - Owner's equity increased to ¥6,610,048,117.57, compared to ¥6,371,220,397.17, marking an increase of about 3.7%[65] - Total current assets amounted to approximately ¥3.37 billion, compared to ¥3.20 billion in the same period last year[56] - Total assets increased to ¥9,090,193,683.89, up from ¥9,018,621,203.73, reflecting a growth of approximately 0.8%[65] Shareholder Information - The total number of ordinary shareholders at the end of the period was 149,908[16] - The largest shareholder, Wuhu Tieyuan Investment Co., Ltd., held 11.13% of the shares, totaling 271,497,707 shares[16] - Net assets attributable to shareholders increased by 3.75% to ¥6,540,655,188.87 from ¥6,304,237,116.90 at the end of the previous year[9] Cash Flow - The company’s cash received from sales of goods and services decreased by 37.34% year-on-year, primarily due to an increase in the proportion of bill settlements during the reporting period[32] - The company’s cash paid for purchasing goods and services decreased by 50.23% year-on-year, also due to an increase in bill settlements[32] - Cash and cash equivalents rose to ¥705,410,367.86 from ¥563,451,791.21, reflecting an increase of approximately 25.1%[66] - The cash flow from operating activities for the current period is 286,727,023.10, compared to 333,113,718.73 in the previous period, showing a decline of approximately 13.9%[93] - The cash flow from investing activities has a net inflow of 24,630,118.04, a significant improvement from a net outflow of -136,867,152.61 in the previous period[93] - The cash flow from financing activities shows a net outflow of -52,233,989.53, compared to a net inflow of 1,187,946,853.05 in the previous period, indicating a shift in financing strategy[96] Operational Developments - The company has made significant progress in the UTG project, now possessing the complete manufacturing process for flexible foldable glass covers[36] - The company is actively developing ultra-low reflection touch sensors, aiming for mass production to meet the high-end touchscreen market[36] - The company achieved all operational indicators as planned despite the adverse impacts of the COVID-19 pandemic[40] Financial Adjustments and Standards - The company has implemented new revenue and leasing standards starting from 2020, affecting the financial statements[101] - The report indicates the implementation of new revenue and leasing standards starting from 2020, with no retrospective adjustments made[114] Risks and Commitments - The company has not encountered any significant risks or difficulties affecting future operations during the reporting period[41] - The company has not reported any overdue commitments from major shareholders or related parties during the reporting period[41] - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties during the reporting period[52]

Financial Performance - The company's operating revenue for 2019 was ¥6,023,777,582.46, a decrease of 37.35% compared to ¥9,614,875,119.47 in 2018[28]. - Net profit attributable to shareholders for 2019 was ¥845,436,642.81, an increase of 18.74% from ¥712,021,433.45 in 2018[28]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥727,114,273.59, up 76.85% from ¥411,146,120.50 in 2018[28]. - The net cash flow from operating activities for 2019 was ¥1,482,730,757.72, a significant increase of 96.79% compared to ¥753,469,401.23 in 2018[28]. - Basic earnings per share for 2019 was ¥0.37, representing a growth of 19.35% from ¥0.31 in 2018[28]. - Total assets at the end of 2019 were ¥9,018,621,203.73, a decrease of 3.28% from ¥9,324,564,985.81 at the end of 2018[28]. - The net assets attributable to shareholders at the end of 2019 were ¥6,304,237,116.90, an increase of 29.81% from ¥4,856,675,033.94 at the end of 2018[28]. - The fourth quarter net profit attributable to shareholders after deducting non-recurring gains and losses was ¥31,226,181.17, significantly impacted by non-recurring items[31]. - Non-recurring gains for 2019 totaled ¥118,322,369.22, primarily due to compensation from Shenzhen BAK Battery Co., Ltd. for unmet performance commitments[34]. - The company reported a weighted average return on equity of 16.09% for 2019, up from 15.54% in 2018[28]. Risk Management - The company emphasizes the importance of managing accounts receivable, which has historically been high, and is implementing measures to reduce risks associated with it[6]. - The company is actively managing foreign exchange risks associated with its import and export business, primarily settled in USD, by matching foreign currency income and expenses[10]. - The company is focused on risk awareness regarding forward-looking statements and the potential differences between plans, forecasts, and commitments[5]. - The company is facing risks from potential declines in customer demand due to geopolitical tensions and the economic impact of the COVID-19 pandemic, prompting a focus on top-tier domestic and international clients[9]. - The company is managing goodwill impairment risks from acquisitions by implementing a group management model to enhance operational efficiency and monitor the performance of acquired subsidiaries[197]. - The company maintains a high focus on accounts receivable safety, implementing measures to reduce risks, including enhancing organizational structure and increasing collection efforts[195]. - The company faces risks from rapid technological updates in the display industry, necessitating close technical communication with downstream clients to maintain product competitiveness[195]. - The company is addressing potential declines in customer demand due to global de-globalization trends and the economic slowdown from COVID-19 by focusing on top domestic and international clients and accelerating new product introductions[196]. Technological Innovation - The company is focusing on technological innovation to enhance product competitiveness and meet market demands, particularly in the touch display industry[9]. - The company acknowledges the rapid pace of technological upgrades in the optoelectronic display industry and is adapting its manufacturing processes accordingly[9]. - Continuous investment in R&D for flexible OLED technology and related components, focusing on high-tech barriers and emerging ultra-thin glass business[54]. - The company holds 20 invention patents and 127 utility model patents, showcasing a robust technological foundation and commitment to innovation[55]. - The company is focusing on developing new technologies such as low-reflective touch sensors and high-precision automatic dispensing systems to enhance product quality and production efficiency[92][93]. - The company is actively integrating AR coating capabilities and vehicle-mounted cover processing capabilities to maintain technological leadership in automotive electronics[182]. - The company is focusing on the development of flexible OLED mobile display modules, leveraging its first-mover advantage and technical monopoly in the field[181]. - The company is committed to accelerating the construction of the UTG project to quickly release economic benefits and maintain coordination with suppliers for foldable phone cover materials[179]. Market Position and Strategy - The company established a leading position in consumer electronics, automotive electronics, and ultra-thin LCD panels, with a focus on high-end products[42]. - In the high-end LCD mobile phone touch display module sector, the company captured approximately 40% of domestic 5G mobile phone shipments in January, supplying major clients like Huawei and Xiaomi[42]. - The wearable display module business has become an industry leader, providing products for top clients such as Samsung and Fitbit[43]. - The company achieved a 119.07% increase in construction in progress, primarily due to investments in the smart wearable project funded by convertible bonds[48]. - The company maintained a high market share in ITO conductive glass, consistently ranking first in the industry for several years[45]. - The company focuses on high-end clients, ensuring stable and sustainable business relationships through rigorous supplier certification processes[51]. - The company maintains a strong market position by leveraging relationships with top-tier clients, enhancing product market share and penetration[53]. - The company is enhancing its competitive edge in the automotive sector by optimizing its organizational structure and improving management efficiency[70]. Investment and Financial Management - The company reported a significant increase in R&D expenses, totaling ¥209,050,031.62, which is a 113.99% increase year-on-year[87]. - The company's R&D investment in 2019 amounted to approximately ¥209 million, representing 3.47% of its operating revenue, a significant increase from 1.02% in 2018[98]. - The number of R&D personnel increased to 1,653 in 2019, accounting for 11.69% of the total workforce, up from 10.90% in 2018[98]. - The company plans to increase the production capacity of hard OLED wearable display modules to 3.6KK/month by mid-2020 to meet growing demand[65]. - The company has successfully entered the supply chain of a leading global smart electronics company, becoming the only certified supplier for its thinning business[66]. - The company aims to gradually put 10% of the new production capacity into operation by the second half of 2020 to meet customer demand[66]. - The company has established a comprehensive layout in the automotive display module sector, covering various products including vehicle sensors and touch modules[70]. - The company is collaborating with a global high-end electric vehicle manufacturer to provide central control screen modules for flagship models[70]. Operational Efficiency - The company is committed to talent development, enhancing employee benefits, and implementing stock incentive plans to foster growth and loyalty among key personnel[188]. - Internal management will be refined to ensure effective execution of policies and procedures, addressing the challenges of a rapidly evolving industry[189]. - The company is accelerating digital transformation to establish a smart factory, enhancing operational efficiency through data analysis and real-time decision-making[190]. - Continuous improvement in automation and equipment capabilities is prioritized to enhance production efficiency and quality[57]. - Cost reduction initiatives will be a key focus for 2020, targeting non-production expenses and improving operational efficiency through specialized management[187].

Financial Performance - Operating revenue for the reporting period was CNY 1,415,209,593.66, down 48.63% compared to the same period last year[9]. - Net profit attributable to shareholders of the listed company was CNY 270,836,147.95, an increase of 11.02% year-on-year[9]. - Basic earnings per share for the reporting period was CNY 0.1178, up 11.03% compared to the same period last year[9]. - The company reported non-operating income of CNY 16,118,577.08 for the reporting period[11]. - Total operating revenue for the current period is ¥1,415,209,593.66, a decrease of 48.6% compared to ¥2,755,115,437.38 in the previous period[64]. - Net profit for the current period is ¥271,581,141.56, an increase of 9.1% from ¥248,970,186.31 in the previous period[67]. - The company’s total profit for the current period is ¥326,528,723.41, an increase of 6.8% from ¥306,293,597.40 in the previous period[67]. - The total comprehensive income for the period was ¥721,108,167.60, an increase from ¥617,207,788.23 in the previous period[87]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 9,062,795,203.20, a decrease of 2.81% compared to the end of the previous year[9]. - Total liabilities decreased from 4,422,334,410.82 to 3,475,691,092.66, a reduction of approximately 21.4%[50]. - Current liabilities decreased from 4,028,524,532.19 to 2,358,402,522.39, representing a decline of about 41.4%[50]. - Long-term borrowings decreased significantly from 294,423,437.24 to 40,687,500.00, a drop of approximately 86.2%[50]. - The total assets of the company stood at ¥9,324,564,985.81, with total liabilities amounting to ¥4,028,524,532.19, indicating a healthy asset-liability ratio[115]. - Total liabilities amounted to ¥4,422,334,410.82, with non-current liabilities totaling ¥393,809,878.63[121]. Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 1,147,431,605.95, a significant increase of 2,601.12%[9]. - Cash flow from operating activities decreased from ¥4,730,576,141.26 to ¥4,221,943,153.40, a decline of about 10.7%[97]. - Cash inflow from financing activities totaled ¥2,430,651,331.90, with cash outflow of ¥2,416,329,620.40, leading to a net cash flow from financing activities of ¥14,321,711.50, showing a stable financing environment[111]. - The company's cash and cash equivalents decreased by ¥350,551,647.60, ending the period with ¥381,774,289.88 compared to ¥732,325,937.48 at the beginning of the period[111]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 86,420[13]. - The top ten shareholders held a combined 43.95% of the company's shares, with the largest shareholder owning 11.74%[13]. - Total equity attributable to shareholders reached ¥4,856,675,033.94, while total equity was ¥4,902,230,574.99[121]. Research and Development - Research and development expenses increased by 97.47% year-on-year, reflecting the company's increased investment in R&D[26]. - The company is actively developing higher-generation products in collaboration with end customers, with ongoing progress in the research and trial production of flexible OLED modules[31]. - Research and development expenses increased to ¥134,271,095.14, up 97.5% from ¥67,995,328.08 in the previous period[81]. Financial Adjustments - The company's financial expenses decreased by 63.85% year-on-year, attributed to significant foreign exchange gains and increased interest income[26]. - The company’s financial adjustments due to new accounting standards were noted, impacting various financial statement items, which may affect future reporting[112].

Financial Performance - Total revenue for the first half of 2019 was CNY 3,229,215,658.43, a decrease of 26.19% compared to CNY 4,375,062,964.65 in the same period last year[25]. - Net profit attributable to shareholders was CNY 441,170,521.55, an increase of 21.15% from CNY 364,152,308.34 year-on-year[25]. - Net profit after deducting non-recurring gains and losses was CNY 429,781,703.81, up 25.75% from CNY 341,768,405.16 in the previous year[25]. - Basic earnings per share increased to CNY 0.1919, up 21.15% from CNY 0.1584[25]. - Diluted earnings per share rose to CNY 0.1859, reflecting a 17.36% increase from CNY 0.1584[25]. - The weighted average return on net assets was 8.55%, slightly up from 8.26% in the previous year[25]. - The company achieved a revenue of 322,921.57 million CNY in the first half of 2019, a year-on-year decrease of 26.19%, while net profit attributable to shareholders increased by 21.15% to 44,117.05 million CNY[59]. Cash Flow and Assets - Net cash flow from operating activities was CNY 877,119,138.94, a significant increase of 1,618.83% compared to a negative cash flow of CNY -57,749,831.98 last year[25]. - Total assets at the end of the reporting period were CNY 8,862,782,298.45, a decrease of 4.95% from CNY 9,324,564,985.81 at the end of the previous year[25]. - Cash and cash equivalents at the end of the reporting period amounted to ¥1,058,911,356.26, representing 11.95% of total assets, a decrease of 5.61% compared to the previous year[75]. - Accounts receivable decreased to ¥1,082,448,196.24, accounting for 12.21% of total assets, down 4.26% year-on-year due to improved management and a shift in business model[75]. - Inventory decreased to ¥373,979,893.94, making up 4.22% of total assets, a reduction of 2.49% attributed to changes in the business model[75]. - Fixed assets increased to ¥3,038,085,823.63, representing 34.28% of total assets, an increase of 2.95% due to the completion of construction projects[75]. Investments and R&D - R&D investment increased significantly by 224.05% to ¥121,323,326.93, aimed at maintaining core competitiveness in the industry[71]. - The company has developed a flexible touch sensor capable of 200,000 folds, which has passed certification from major domestic and international clients and is about to enter mass production[54]. - The company is actively expanding its OLED wearable display module production lines, with the first line already completed and others in progress[38]. - The company is focused on continuous innovation and R&D, with ongoing projects in automotive touch display technology and non-contact LCD thickness measurement[54]. Market Position and Strategy - The company maintains a leading position in the automotive electronics and consumer electronics sectors, particularly in the touch display market[36]. - The company is actively expanding its product offerings in the 5G mobile display module sector, launching a series of products for well-known global mobile clients[49]. - The company has established a strong market position by collaborating with high-end clients across multiple business segments, enhancing customer loyalty[48]. - The wearable module production capacity is set to increase from 1.2KK/month to 2.5KK/month by the end of the year, responding to the rapid growth in global wearable market demand[60]. Shareholder and Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares[6]. - The annual shareholders' meeting had a participation rate of 24.77% on May 16, 2019[111]. - The company has commitments from major shareholders regarding shareholding stability, including a 36-month lock-up period for certain shares[112]. - The company has committed to not reduce its shareholding in the company without prior written consent from major stakeholders[125]. - The company has successfully fulfilled its previous commitments regarding share repurchase and cancellation[124]. Environmental and Social Responsibility - The company has invested over 2 million in clean production modifications and successfully passed the clean production acceptance[170]. - The company has established an effective environmental risk management system and continuously enhances environmental supervision and management[166]. - The company’s online monitoring system for pollutants is connected to the municipal platform, ensuring real-time data monitoring[168]. - The company has implemented a precise poverty alleviation plan, although specific metrics and outcomes were not detailed in the report[171]. Risks and Challenges - The company faces risks from rapid industry technology updates and aims to maintain close technical communication with downstream customers[106]. - The company is addressing the risks associated with group integration management to enhance operational efficiency and resource allocation[107]. - The company is actively managing foreign exchange risks due to its import and export business primarily settled in USD[108].

芜湖长信科技股份有限公司 2019 年第一季度报告全文 芜湖长信科技股份有限公司 2019 年第一季度报告 2019 年 04 月 1 芜湖长信科技股份有限公司 2019 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人高前文、主管会计工作负责人秦青华及会计机构负责人(会计主 管人员)秦青华声明：保证季度报告中财务报表的真实、准确、完整。 2 芜湖长信科技股份有限公司 2019 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | |-----------------------------------------------------|-------------------|------------------|---------------------------| | □ 是 √ 否 | 本报告期 ...