苏州锦富技术股份有限公司 2020 年年度报告 苏州锦富技术股份有限公司 2020 年年度报告 二零二一年三月 1 苏州锦富技术股份有限公司 2020 年年度报告 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真实、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。 公司负责人顾清、主管会计工作负责人邓浩及会计机构负责人(会计主管人员)盛承林声明：保证本年 度报告中财务报告的真实、准确、完整。 公司所有董事均亲自出席了审议本报告的董事会会议。 非标准审计意见提示 □ 适用 √ 不适用 内部控制重大缺陷提示 □ 适用 √ 不适用 业绩大幅下滑或亏损的风险提示 □ 适用 √ 不适用 对年度报告涉及未来计划等前瞻性陈述的风险提示 √ 适用 □ 不适用 本公司请投资者认真阅读本年度报告全文，并特别注意下列风险因素 鉴于公司所处电子元器件制造行业具有明显的行业周期，终端产品领域行业集中度高，市场竞争激烈， 故公司的模切业务及背光模组业务将面临行业及经济周期波动所导致的业绩波动、毛利率下滑及应收账款 回收的风险。 其次，本报告期公司对前五大客户 ...

苏州锦富技术股份有限公司 2020 年第三季度报告 二零二零年十月 1 苏州锦富技术股份有限公司 2020 年第三季度报告 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。 所有董事均亲自出席了审议本次季报的董事会会议。 公司负责人顾清、主管会计工作负责人邓浩及会计机构负责人(会计主管人员)盛承林声明：保证季度报 告中财务报表的真实、准确、完整。 苏州锦富技术股份有限公司 2020 年第三季度报告 截止披露前一交易日的公司总股本（股） 1,094,115,412 公司报告期末至季度报告披露日股本是否因发行新股、增发、配股、股权激励行权、回购等原因发生变 化且影响所有者权益金额 非标准审计意见提示 □ 适用 √ 不适用 2 苏州锦富技术股份有限公司 2020 年第三季度报告 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 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | - ...

苏州锦富技术股份有限公司 2020 年半年度报告 苏州锦富技术股份有限公司 2020 年半年度报告 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、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。 公司负责人顾清、主管会计工作负责人邓浩及会计机构负责人(会计主管人员)盛承林声明：保证本半 年度报告中财务报告的真实、准确、完整。 所有董事均亲自出席了审议本次半年报的董事会会议。 有关公司经营风险及应对措施，请参见本报告第四节"经营情况讨论与分析"之"九、公司面临的风 险和应对措施"的相关具体内容陈述。 此外，公司在此特别声明，对于本报告中所涉及的公司未来计划等前瞻性陈述，相关计划并不构成公 司对投资者的实质承诺，投资者及相关人士均应当对此保持足够的风险认识，并且应当理解计划、预测与 承诺之间的差异。敬请广大投资者审慎决策，注意投资风险。 苏州锦富技术股份有限公司 2020 年半年度报告 二零二零年八月 1 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | 2020 年半年度报告 | | 1 | | --- | - ...

Financial Performance - Total revenue for Q1 2020 was ¥245,112,657, a decrease of 43.73% compared to ¥435,593,131 in the same period last year[10]. - Net profit attributable to shareholders was -¥18,959,579.79, representing a decline of 1529.02% from ¥1,326,754.43 in the previous year[10]. - Basic and diluted earnings per share were both -¥0.0173, a decrease of 1541.67% from ¥0.0012 in the previous year[10]. - The company reported a net loss of CNY 55,080,002.10 for the period, compared to a loss of CNY 45,105,000.18 in the previous period[68]. - The net profit for Q1 2020 was a loss of CNY 20.20 million, compared to a profit of CNY 2.59 million in Q1 2019, indicating a significant decline in profitability[72]. - The operating profit for Q1 2020 was a loss of CNY 24.78 million, compared to a profit of CNY 3.15 million in Q1 2019, showing a substantial decline in operational performance[72]. - The total comprehensive income for Q1 2020 was a loss of CNY 20.83 million, compared to a gain of CNY 7.04 million in Q1 2019, reflecting a significant decline in overall financial health[73]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 58.64% to ¥32,450,336.60, compared to ¥20,455,806.39 in the same period last year[10]. - Cash and cash equivalents decreased to CNY 51,571,190.00 from CNY 97,366,620.80, a decline of about 47.2%[65]. - The ending cash and cash equivalents balance was CNY 156,021,505.34, compared to CNY 101,306,692.89 at the end of Q1 2019, reflecting an increase of approximately 54%[80]. - Cash inflow from loans received was CNY 141,735,003.30, significantly higher than CNY 75,496,268.08 in the previous year, showing an increase of approximately 87%[83]. - The company reported a net cash flow of -CNY 45,795,948.49 from cash and cash equivalents, worsening from -CNY 12,634,227.61 in Q1 2019[83]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,499,179,600.36, down 1.85% from ¥2,546,289,093.65 at the end of the previous year[10]. - Total liabilities were CNY 526,062,563.22, up from CNY 503,589,945.48, indicating an increase of approximately 4.5%[68]. - The total equity attributable to shareholders of the parent company was CNY 1,181,644,163.84, down from CNY 1,205,063,649.40, a decrease of about 1.9%[65]. - The company holds long-term equity investments valued at CNY 151,744,136.54[86]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 32,534[14]. - The largest shareholder, Taixing Zhicheng Industrial Investment Fund, held 19.19% of the shares, totaling 209,963,460 shares[14]. - The company did not conduct any repurchase transactions among the top 10 shareholders during the reporting period[16]. Research and Development - The company holds a total of 293 patents, including 70 invention patents and 202 utility model patents, reflecting ongoing innovation efforts[34]. - The company is currently engaged in multiple R&D projects, including the MQG320-ZQ die-cutting machine, which aims to meet the increasing market demand for equipment with a cutting width between 250-350mm[35]. - The company is developing a high-low temperature cycle testing instrument to achieve precise temperature control for testing electrical performance under varying conditions[36]. - The company has initiated the development of a multi-axis sub-micron motion platform aimed at lens assembly applications[36]. Market and Competition - The company is facing significant market competition, which has led to a risk of declining gross margins for traditional products[48]. - The company is closely monitoring macroeconomic trends to adjust its business plans in response to economic cycle fluctuations[46]. - The company is actively integrating high-quality resources within the industry to enhance its overall market competitiveness[45]. Customer Concentration - The top five customers generated 74.37% of total revenue in Q1 2020, with the largest customer contributing 59.89%[41]. - The company's sales to the top five customers accounted for 74.37% of total revenue during the reporting period, indicating a high customer concentration risk[49]. - The company has seen a decrease in revenue concentration among its top customers compared to the previous year, reflecting changes in business structure[43].

苏州锦富技术股份有限公司 2019 年年度报告 苏州锦富技术股份有限公司 2019 年年度报告 二零二零年四月 1 苏州锦富技术股份有限公司 2019 年年度报告 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真实、准确、完整，不存在虚 假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人顾清、主管会计工作负责人邓浩及会计机构负责人 (会计主管人员) 盛承林声明：保证年 度报告中财务报告的真实、准确、完整。 公司所有董事均亲自出席了审议本次年报的董事会会议。 非标准审计意见提示 □ 适用 √ 不适用 内部控制重大缺陷提示 □ 适用 √ 不适用 对年度报告涉及未来计划等前瞻性陈述的风险提示 √ 适用 □ 不适用 本公司请投资者认真阅读本年度报告全文，并特别注意下列风险因素 鉴于公司所处电子元器件制造行业具有明显的行业周期，终端产品领域行业集中度高，市场竞争激烈， 故公司的模切业务及背光模组业务将面临行业及经济周期波动所导致的业绩波动、毛利率下滑及应收账款 回收的风险。此外，全球新型冠状病毒疫情如果不能及时得到有效控制，也可能会对市场需求造成不利影 ...

苏州锦富技术股份有限公司 2019 年第三季度报告 苏州锦富技术股份有限公司 2019 年第三季度报告 苏州锦富技术股份有限公司 2019 年第三季度报告 二零一九年十月 1 苏州锦富技术股份有限公司 2019 年第三季度报告 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。 所有董事均亲自出席了审议本次季报的董事会会议。 公司负责人顾清、主管会计工作负责人邓浩及会计机构负责人(会计主管人员)盛承林声明：保证季度报告 中财务报表的真实、准确、完整。 非标准审计意见提示 □ 适用 √ 不适用 2 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 | | | | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 2,716,220,641.31 | 3,019,271,212.67 | | -10.04% | | 归属于上市公司股东的净资产 | 1,2 ...

[Important Notice, Table of Contents and Definitions](index=2&type=section&id=Item%201.%20Important%20Notice%2C%20Table%20of%20Contents%20and%20Definitions) This section provides essential disclaimers, the report's structural index, and definitions of key terms and entities [Important Notice](index=2&type=section&id=Important%20Notice) The company's board, supervisory board, and senior management ensure the report's accuracy, while cautioning investors about forward-looking statements and no planned profit distribution - The company's management guarantees the truthfulness, accuracy, and completeness of the report's content and assumes legal responsibility[5](index=5&type=chunk) - The company advises investors to be aware of risks associated with forward-looking statements, including industry cyclical fluctuations, customer concentration, declining gross margins, underperforming new business expansion, and goodwill impairment[7](index=7&type=chunk) - The company plans no cash dividends, bonus shares, or capital increase from provident funds for the first half of 2019[9](index=9&type=chunk) [Table of Contents](index=3&type=section&id=Table%20of%20Contents) This section provides a comprehensive index of the report's structure, covering eleven main parts from important notices to reference documents [Definitions](index=4&type=section&id=Definitions) This section defines key company abbreviations, business terms, and technical jargon used throughout the report, providing foundational understanding - The company's main controlling shareholder is identified as Taixing Zhicheng Industrial Investment Fund (Limited Partnership), with abbreviations for its wholly-owned and controlled subsidiaries listed[13](index=13&type=chunk) - Core business and product terms such as backlight modules, optoelectronic display film devices, and IDC and its value-added services are explained[14](index=14&type=chunk) [Company Profile and Key Financial Indicators](index=6&type=section&id=Item%202.%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section outlines the company's fundamental information and presents key financial performance metrics for the reporting period [Company Profile](index=6&type=section&id=Company%20Profile) This section provides the company's basic commercial registration details, including stock information, full name, legal representative, and contact information for investor relations | Item | Information | | :--- | :--- | | Stock Abbreviation | Jinfu Technology | | Stock Code | 300128 | | Listing Exchange | Shenzhen Stock Exchange | | Legal Representative | Gu Qing | [Key Accounting Data and Financial Indicators](index=7&type=section&id=Key%20Accounting%20Data%20and%20Financial%20Indicators) During the reporting period, total operating revenue decreased by 44.45% year-on-year, while net profit attributable to shareholders significantly increased by 1388.89%, primarily due to non-recurring gains from subsidiary equity disposal Key Financial Indicators for H1 2019 | Indicator | Current Period | Prior Year Period | YoY Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue (RMB) | 832,956,985.73 | 1,499,344,647.37 | -44.45% | | Net Profit Attributable to Shareholders (RMB) | 18,864,727.18 | 1,267,034.34 | 1388.89% | | Net Profit Excluding Non-Recurring Items (RMB) | 627,723.42 | -1,932,519.95 | 132.48% | | Net Cash Flow from Operating Activities (RMB) | 51,760,091.65 | -398,067,224.08 | 113.00% | | Basic Earnings Per Share (RMB/share) | 0.0172 | 0.0012 | 1333.33% | | Total Assets (RMB) | 2,674,883,330.50 | 3,019,271,212.67 | -11.41% (Period-end vs. Year-start) | - Total non-recurring gains and losses for the period amounted to **RMB 18,237,003.76**, primarily from the **RMB 18,227,237.94** gain on disposal of equity in subsidiary Suzhou Jiufu Electronics Co., Ltd., which was the core reason for the significant increase in net profit[26](index=26&type=chunk) [Business Overview](index=9&type=section&id=Item%203.%20Business%20Overview) This section details the company's diverse main businesses, significant asset changes, and core competitive advantages in the optoelectronic and IT sectors [Main Businesses](index=9&type=section&id=Main%20Businesses%20During%20the%20Reporting%20Period) The company's main businesses span LCD modules, optoelectronic display film devices, testing fixtures, automation equipment, and IDC services, serving the IT, communications, and automotive industries - The company's leading products include liquid crystal display modules (LCM and BLU), optoelectronic display films and electronic functional devices, testing fixtures and automation equipment, and IDC and its value-added services[29](index=29&type=chunk) [Significant Changes in Major Assets](index=10&type=section&id=Significant%20Changes%20in%20Major%20Assets) Intangible assets and construction in progress significantly decreased due to the disposal of Suzhou Jiufu, while prepayments and notes receivable also declined, with the company also disclosing overseas asset information Explanation of Major Asset Changes | Major Asset | Change from Year-start | Primary Reason | | :--- | :--- | :--- | | Intangible Assets | -9.99% | Disposal of subsidiary Suzhou Jiufu, whose land use rights are no longer consolidated | | Construction in Progress | -44.34% | Disposal of subsidiary Suzhou Jiufu, whose factory buildings under construction are no longer consolidated | | Prepayments | -40.68% | Project termination, prepayments transferred to long-term receivables | | Notes Receivable | -49.07% | Reduced customers settling by notes due to contraction of photovoltaic business | - The company disclosed two major overseas assets: equity in Hong Kong Heou Electronics Co., Ltd. and ALL IN (ASIA) HOLDING CO., LIMITED, collectively accounting for approximately **28.56%** of the company's net assets, both operating at a loss during the reporting period[34](index=34&type=chunk)[35](index=35&type=chunk) [Analysis of Core Competencies](index=11&type=section&id=Analysis%20of%20Core%20Competencies) The company's core competencies include comprehensive optoelectronic display film solutions, a complete industry chain, key technological mastery, nationwide network layout, and a strong base of premium clients - The company has built a complete industry chain, from specialized processing equipment and testing equipment to backlight modules and optoelectronic display film devices[37](index=37&type=chunk) - Through the acquisition of Maizhi Technology, the company entered the high-end testing equipment sector for consumer electronics, enhancing its technological capabilities[39](index=39&type=chunk) - The company serves leading domestic and international enterprises such as Apple, Samsung, LGD, Foxconn, Huawei, and Sugon, possessing rich customer resources[41](index=41&type=chunk) [Management Discussion and Analysis](index=13&type=section&id=Item%204.%20Management%20Discussion%20and%20Analysis) This section provides an in-depth review of the company's operational performance, financial position, investment activities, and risk management strategies during the reporting period [Overview](index=13&type=section&id=I.%20Overview) In H1 2019, total operating revenue decreased by 44.45% to RMB 832.96 million, but net profit attributable to shareholders surged by 1388.89% to RMB 18.86 million, driven by Maizhi Technology's performance and the disposal of Suzhou Jiufu equity Operating Performance for H1 2019 | Indicator | Amount (RMB 10,000) | YoY Growth | | :--- | :--- | :--- | | Total Operating Revenue | 83,295.70 | -44.45% | | Operating Profit | 1,470.68 | 650.68% | | Total Profit | 1,419.99 | 1,191.58% | | Net Profit Attributable to Parent | 1,886.47 | 1,388.89% | - The significant increase in net profit was primarily due to: (1) a slight increase in performance from subsidiary Maizhi Technology; and (2) a net gain of **RMB 14.75 million** from the disposal of 100% equity in Suzhou Jiufu[44](index=44&type=chunk) - During the reporting period, the company's actual controller changed to Taixing High-tech Industrial Development Zone Management Committee of Jiangsu Province[45](index=45&type=chunk) - The company acquired a **65%** equity stake in Kunshan Minglija for **RMB 57.20 million**, aiming to diversify its product lines and add new profit growth points, with Apple Inc. as its primary end customer[47](index=47&type=chunk)[49](index=49&type=chunk) [Analysis of Main Business](index=15&type=section&id=II.%20Analysis%20of%20Main%20Business) Main business revenue significantly declined due to reduced major customer orders and a comprehensive contraction of the photovoltaic business, despite an increase in gross margin for optoelectronic components manufacturing Year-on-Year Changes in Key Financial Data | Item | YoY Change | Reason for Change | | :--- | :--- | :--- | | Operating Revenue | -44.45% | Decrease in major customer orders and contraction of photovoltaic business (YoY decrease of **RMB 450 million**) | | Operating Cost | -46.83% | Decreased in line with operating revenue | | Administrative Expenses | -31.41% | Contraction of photovoltaic and other businesses, optimization of management structure, and personnel streamlining | | Net Cash Flow from Operating Activities | 113.00% | Significant decrease in cash paid for goods and services | | Net Cash Flow from Financing Activities | -140.90% | Reduced borrowing scale after repaying matured loans | Operating Revenue by Product (Unit: RMB) | Product | Operating Revenue | YoY Change in Operating Revenue | | :--- | :--- | :--- | | LCD Display Modules | 374,215,374.09 | -21.33% | | Optoelectronic Display Films and Electronic Functional Devices | 173,854,451.92 | -23.96% | | Testing Fixtures and Automation Equipment | 139,109,253.27 | 10.19% | | Solar Photovoltaic Modules | 72,785,476.39 | -86.08% | [Analysis of Non-Core Business](index=17&type=section&id=III.%20Analysis%20of%20Non-Core%20Business) Non-core business gains primarily stemmed from asset disposals, with investment income of RMB 13.32 million, mainly from the sale of Suzhou Jiufu Electronics equity, significantly impacting current period profit - Investment income amounted to **RMB 13,324,504.42**, primarily from the disposal of **93.83%** equity in subsidiary Suzhou Jiufu Electronics Co., Ltd., significantly impacting profit composition[64](index=64&type=chunk) [Analysis of Assets and Liabilities](index=18&type=section&id=IV.%20Analysis%20of%20Assets%20and%20Liabilities) Total assets decreased from the year-start, with significant reductions in monetary funds due to loan repayments and inventory due to photovoltaic business contraction, while several assets are pledged or mortgaged for financing Significant Changes in Asset and Liability Composition | Item | % of Total Assets (Period-end) | % of Total Assets (Year-start) | Explanation of Change | | :--- | :--- | :--- | | Monetary Funds | 5.83% | 9.87% | Due to timely repayment of matured loans | | Inventory | 8.32% | 9.95% | Significant contraction of photovoltaic business, reducing corresponding inventory | | Short-term Borrowings | 27.71% | 25.00% | Repaid part of short-term borrowings by recovering funds | - The company has multiple restricted assets, including mortgaged properties, land, and equipment of subsidiary Aoying Optoelectronics, mortgaged properties and land of Wuxi Huante, and pledged equity in Nantong Qiyun held by the parent company, primarily for financing purposes[70](index=70&type=chunk)[71](index=71&type=chunk) [Analysis of Investment Status](index=20&type=section&id=V.%20Analysis%20of%20Investment%20Status) Investment increased by 76.84% year-on-year, mainly for acquiring Kunshan Minglija's 65% equity and capital injection into Hong Kong Heou, while the Nantong data center project's subsequent construction phases were delayed due to lower-than-expected cabinet sales - Investment during the reporting period totaled **RMB 118 million**, a **76.84%** year-on-year increase, primarily due to the **RMB 57.20 million** investment to acquire **65%** equity in Kunshan Minglija and a **RMB 44.116 million** capital injection into subsidiary Hong Kong Heou[72](index=72&type=chunk) - The acquisition of Kunshan Minglija includes performance commitments, requiring its net profits for 2019-2021 to be no less than **RMB 18 million**, **RMB 20 million**, and **RMB 22 million**, respectively[75](index=75&type=chunk) - The Nantong data center project's subsequent construction phases have been delayed due to significantly lower-than-expected sales of Phase I cabinets[76](index=76&type=chunk) [Significant Asset and Equity Disposals](index=22&type=section&id=VI.%20Significant%20Asset%20and%20Equity%20Disposals) The company completed the sale of 100% equity in the continuously loss-making subsidiary Suzhou Jiufu for RMB 18.94 million, positively impacting current net profit by 78.21%, while outstanding payments remain from a prior land and factory sale Significant Equity Disposal Information | Equity Disposed | Counterparty | Transaction Price (RMB 10,000) | Impact on Company's Net Profit | Status | | :--- | :--- | :--- | :--- | :--- | | 100% Equity in Suzhou Jiufu | CSPC Enbipu Pharmaceutical Co., Ltd. | 1,894.09 | Contributed **78.21%** of total net profit | Transfer completed | [Analysis of Major Holding and Associate Companies](index=23&type=section&id=VII.%20Analysis%20of%20Major%20Holding%20and%20Associate%20Companies) Subsidiary performance varied significantly, with Maizhi Technology (testing fixtures) showing steady growth, while Aoying Optoelectronics (electronic components) saw an 84.48% net profit decline, and Nantong Qiyun (IDC) expanded losses due to low customer occupancy Overview of Major Subsidiaries' Performance H1 2019 (Unit: RMB) | Company Name | Main Business | Operating Revenue | Net Profit | | :--- | :--- | :--- | :--- | | Aoying Optoelectronics | Electronic Components | 376,967,538.66 | 1,404,790.64 | | Maizhi Technology | Testing Fixtures | 142,877,637.02 | 25,286,988.75 | | Nantong Qiyun | IDC and Value-added Services | 1,764,643.09 | -12,316,236.29 | | Wuxi Huante | Photovoltaic | 68,984,745.91 | -4,433,108.55 | - Maizhi Technology's performance grew, primarily benefiting from market expansion and new product R&D and sales, with a **8.76%** year-on-year increase in net profit for the period[112](index=112&type=chunk) - Aoying Optoelectronics' performance significantly declined, with net profit decreasing by **84.48%** year-on-year, mainly due to reduced orders from its key customer, Samsung[110](index=110&type=chunk) - Nantong Qiyun's losses expanded, with net profit decreasing by **1476.64%** year-on-year, primarily due to significantly lower-than-expected data center customer occupancy rates and a substantial increase in depreciation expenses[114](index=114&type=chunk)[115](index=115&type=chunk) [Risks Faced by the Company and Countermeasures](index=30&type=section&id=X.%20Risks%20Faced%20by%20the%20Company%20and%20Countermeasures) The company faces risks including intense market competition, economic cycles, integration and performance risks of acquired entities, declining gross margins, customer concentration, and accounts receivable collection, addressed through innovation, integration, and improved management - The company faces traditional business risks such as intense market competition, economic cyclical fluctuations, high customer concentration, declining gross margins, and accounts receivable collection[123](index=123&type=chunk)[124](index=124&type=chunk)[127](index=127&type=chunk)[128](index=128&type=chunk)[129](index=129&type=chunk) - Acquired Maizhi Technology faces risks of performance decline and goodwill impairment, while the newly entered IDC business (Nantong Qiyun) carries risks of lower-than-expected market development[126](index=126&type=chunk) [Significant Matters](index=32&type=section&id=Item%205.%20Significant%20Matters) This section details the fulfillment of commitments, ongoing litigation, significant related-party transactions, and other major events, including changes in controlling shareholders and key acquisitions [Fulfillment of Commitments](index=32&type=section&id=III.%20Fulfillment%20of%20Commitments%20by%20Controlling%20Shareholders%2C%20Shareholders%2C%20Related%20Parties%2C%20Acquirers%20and%20the%20Company) The new controlling shareholder fulfilled most commitments regarding share lock-up, independence, competition, and related-party transactions, but former director Xiao Peng failed to meet his share increase commitment - The new controlling shareholder, Taixing Zhicheng Industrial Investment Fund, committed to a **12-month** lock-up period for its acquired shares starting from May 9, 2019[135](index=135&type=chunk) - Former director Mr. Xiao Peng failed to fulfill his commitment to increase shareholding by no less than **RMB 27.50 million**, citing a fundamental change in the premise of his commitment (serving as company chairman and general manager) due to the change in the company's largest shareholder[139](index=139&type=chunk)[173](index=173&type=chunk) [Litigation Matters](index=37&type=section&id=VIII.%20Litigation%20Matters) While no major lawsuits occurred, significant ongoing cases include subsidiary Aoying Optoelectronics suing Zhejiang Yunhua Trade for RMB 99 million in prepaid goods, and the parent company suing Beijing Suanyun Lianke for RMB 35.18 million in prepaid funds - Subsidiary Aoying Optoelectronics has filed a lawsuit requesting Zhejiang Yunhua Trade Co., Ltd. to return prepaid goods amounting to **RMB 99 million**[142](index=142&type=chunk)[143](index=143&type=chunk) - The company filed a lawsuit against Beijing Suanyun Lianke for failing to return prepayments, demanding a total refund of **RMB 35.18 million** including prepayments[142](index=142&type=chunk)[144](index=144&type=chunk) [Significant Related Party Transactions](index=39&type=section&id=XIII.%20Significant%20Related%20Party%20Transactions) Non-operating related-party receivables primarily involve former actual controller Fu Guoping's occupation of company funds, with a significant balance of RMB 88.38 million still outstanding despite partial repayment Receivables from Related Parties | Related Party | Relationship | Reason for Formation | Beginning Balance (RMB 10,000) | Ending Balance (RMB 10,000) | | :--- | :--- | :--- | :--- | :--- | | Fu Guoping | Former Actual Controller | Prepayment | 9,900 | 8,838 | - Former actual controller Mr. Fu Guoping reached a repayment agreement with the company to return occupied funds and interest in installments by June 30, 2020; as of the report date, **RMB 22.9836 million** has been returned, but the **RMB 18 million** principal and interest due in Q2 were not fully repaid[154](index=154&type=chunk) [Other Significant Matters](index=46&type=section&id=XVI.%20Explanation%20of%20Other%20Significant%20Matters) This section details the change in controlling shareholder to Taixing Zhicheng Industrial Investment Fund and actual controller to Taixing High-tech Industrial Development Zone Management Committee, along with the acquisition of Kunshan Minglija and the disposal of Suzhou Jiufu equity - On May 9, 2019, the equity transfer was completed, making Taixing Zhicheng Industrial Investment Fund the largest shareholder with **19.19%** of the company's shares; in June 2019, the company's actual controller changed to Taixing High-tech Industrial Development Zone Management Committee of Jiangsu Province[171](index=171&type=chunk)[172](index=172&type=chunk) - The company acquired **65%** equity in Kunshan Minglija for **RMB 57.20 million**, with the counterparty committing that the target company's net profits for 2019-2021 will be no less than **RMB 18 million**, **RMB 20 million**, and **RMB 22 million**, respectively, and including profit compensation and equity repurchase clauses[176](index=176&type=chunk)[181](index=181&type=chunk)[185](index=185&type=chunk) - The company's wholly-owned subsidiary Shanghai Jinwei and the parent company transferred their combined **100%** equity in Suzhou Jiufu to CSPC Enbipu Pharmaceutical for **RMB 18.94 million**, aiming to improve cash flow and dispose of continuously loss-making assets[190](index=190&type=chunk) [Share Changes and Shareholder Information](index=52&type=section&id=Item%206.%20Share%20Changes%20and%20Shareholder%20Information) This section details changes in the company's share capital, shareholder numbers, and the significant shift in controlling shareholder and actual controller during the reporting period [Share Changes](index=52&type=section&id=I.%20Share%20Changes) The company's total share capital remained unchanged at 1,094,115,412 shares, with changes primarily due to former director Huang Yafu's shares being released from lock-up and certain executives' newly acquired shares being locked due to commitments - Former director Huang Yafu's **7,116,480** shares were released from lock-up upon the expiration of his post-resignation lock-up period[195](index=195&type=chunk)[199](index=199&type=chunk) - Executives Wang Wende, Deng Hao, and Li Lei had **75%** of their newly acquired shares locked due to fulfilling their share increase commitments[196](index=196&type=chunk)[200](index=200&type=chunk) [Number of Shareholders and Shareholding Information](index=53&type=section&id=III.%20Number%20of%20Shareholders%20and%20Shareholding%20Information) The total number of shareholders increased, with Taixing Zhicheng Industrial Investment Fund becoming the largest shareholder with a 19.19% stake through an agreement transfer, while Shanghai Ruiwei Investment Management Co., Ltd. became the second largest Shareholding Information of Top Two Shareholders | Shareholder Name | Shareholding Percentage | Number of Shares Held | | :--- | :--- | :--- | | Taixing Zhicheng Industrial Investment Fund (Limited Partnership) | 19.19% | 209,963,460 | | Shanghai Ruiwei Investment Management Co., Ltd. | 9.59% | 104,977,679 | [Changes in Controlling Shareholder or Actual Controller](index=55&type=section&id=IV.%20Changes%20in%20Controlling%20Shareholder%20or%20Actual%20Controller) The company's controlling shareholder changed to Taixing Zhicheng Industrial Investment Fund (Limited Partnership), and the actual controller changed to Taixing High-tech Industrial Development Zone Management Committee of Jiangsu Province on June 28, 2019 - The company's new controlling shareholder changed to Taixing Zhicheng Industrial Investment Fund (Limited Partnership)[205](index=205&type=chunk) - The company's new actual controller changed to Taixing High-tech Industrial Development Zone Management Committee of Jiangsu Province[205](index=205&type=chunk) [Preferred Shares](index=56&type=section&id=Item%207.%20Preferred%20Shares) This section confirms that the company had no preferred shares during the reporting period [Preferred Shares](index=56&type=section&id=Preferred%20Shares) The company had no preferred shares during the reporting period - The company had no preferred shares during the reporting period[207](index=207&type=chunk) [Directors, Supervisors, and Senior Management](index=57&type=section&id=Item%208.%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) This section details changes in shareholdings and personnel within the company's board of directors, supervisory board, and senior management during the reporting period [Changes in Shareholdings of Directors, Supervisors, and Senior Management](index=57&type=section&id=Changes%20in%20Shareholdings%20of%20Directors%2C%20Supervisors%20and%20Senior%20Management) Certain senior management members collectively increased their shareholdings by 747,500 shares, including General Manager Wang Wende, CFO Deng Hao, and Deputy General Manager Li Lei Executive Share Increase Information | Name | Position | Number of Shares Increased in Current Period (shares) | | :--- | :--- | :--- | | Wang Wende | General Manager, Board Secretary | 350,000 | | Deng Hao | CFO | 271,000 | | Li Lei | Deputy General Manager | 126,500 | [Changes in Directors, Supervisors, and Senior Management](index=57&type=section&id=Changes%20in%20Directors%2C%20Supervisors%20and%20Senior%20Management) Significant changes occurred in the company's board, supervisory board, and senior management, reflecting the change in control, with several original members departing and new directors, supervisors, and a deputy general manager appointed - Former directors such as Xiao Peng, Huang Wenjun, and Liu Xiaoxin resigned, while Zhang Wei, Fang Xianzhong, and Zhang Xiuhua were elected as new directors or independent directors[212](index=212&type=chunk) - Former supervisors such as Zhong Yanping and Qian Xiaoran resigned, while Lü Juewen and Gao Ming were elected as new supervisors[212](index=212&type=chunk) [Corporate Bonds](index=59&type=section&id=Item%209.%20Corporate%20Bonds) This section confirms that the company had no outstanding corporate bonds during the reporting period [Corporate Bonds](index=59&type=section&id=Corporate%20Bonds) The company had no outstanding corporate bonds during the reporting period - The company had no corporate bond-related matters during the reporting period[215](index=215&type=chunk) [Financial Report](index=60&type=section&id=Item%2010.%20Financial%20Report) This section presents the company's consolidated and parent company financial statements, including balance sheets, income statements, cash flow statements, and statements of changes in owners' equity, along with detailed notes [Financial Statements](index=60&type=section&id=Financial%20Statements) The financial statements show a decrease in total assets, a year-on-year reduction in operating revenue, but a significant increase in net profit due to asset disposal, and improved operating cash flow Key Items from Consolidated Balance Sheet (June 30, 2019) | Item | Amount (RMB) | | :--- | :--- | | Total Assets | 2,674,883,330.50 | | Total Liabilities | 1,386,295,529.69 | | Total Equity Attributable to Parent Company Owners | 1,214,915,936.42 | Key Items from Consolidated Income Statement (H1 2019) | Item | Amount (RMB) | | :--- | :--- | | Total Operating Revenue | 832,956,985.73 | | Total Operating Costs | 834,843,782.44 | | Total Profit | 14,199,948.92 | | Net Profit | 17,831,571.31 | Key Items from Consolidated Cash Flow Statement (H1 2019) | Item | Amount (RMB) | | :--- | :--- | | Net Cash Flow from Operating Activities | 51,760,091.65 | | Net Cash Flow from Investing Activities | 1,993,931.19 | | Net Cash Flow from Financing Activities | -173,480,654.17 | | Net Increase in Cash and Cash Equivalents | -119,909,819.07 | [Notes to Financial Statements](index=84&type=section&id=Notes%20to%20Financial%20Statements) These notes detail accounting policies, changes in estimates, and provide comprehensive explanations for major balance sheet and income statement items, including financial instruments, goodwill, related-party transactions, and financial risk analysis - Effective January 1, 2019, the company adopted new financial instrument standards, reclassifying original 'available-for-sale financial assets' to 'other equity instrument investments'[379](index=379&type=chunk)[383](index=383&type=chunk) - As of the period-end, the company's goodwill book value was **RMB 350 million**, primarily arising from the acquisitions of Kunshan Maizhi Fixtures, Aoying Optoelectronics, and Kunshan Minglija[475](index=475&type=chunk) - The company disclosed market risks (exchange rate risk), credit risk, and liquidity risk related to financial instruments; the company believes liquidity risk is low, and despite tight working capital, normal operations can be ensured through financing capabilities[639](index=639&type=chunk)[640](index=640&type=chunk)[645](index=645&type=chunk)[651](index=651&type=chunk) [Reference Documents](index=200&type=section&id=Item%2011.%20Reference%20Documents) This section lists all documents available for inspection, including the signed original report, stamped financial statements, and all publicly disclosed documents from the reporting period [Reference Documents](index=200&type=section&id=Reference%20Documents) The reference documents include the signed original 2019 semi-annual report, stamped financial statements, and all publicly disclosed documents from the reporting period, available at the company's securities affairs department - Reference documents include the signed original 2019 semi-annual report, financial statements, and all publicly disclosed documents from the reporting period[727](index=727&type=chunk)

苏州锦富技术股份有限公司 2018 年年度报告 苏州锦富技术股份有限公司 2018 年年度报告 二零一九年四月 1 苏州锦富技术股份有限公司 2018 年年度报告 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真实、准确、完整，不存在虚 假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人顾清、主管会计工作负责人邓浩及会计机构负责人盛承林(会计主管人员)声明：保证年度 报告中财务报告的真实、准确、完整。 公司所有董事均亲自出席了审议本次年报的董事会会议。 非标准审计意见提示 □ 适用 √ 不适用 内部控制重大缺陷提示 √ 适用 □ 不适用 公司存在的非财务报告相关的内部控制重大缺陷及整改情况 实控人非经营性资金占用 截止 2018 年 12 月 31 日，公司实控人富国平先生存在占用公司 9900 万元资金的情况。 整改情况：2019 年 4 月 25 日，富国平与公司就资金退还事宜达成了协议，约定于 2020 年 6 月 30 日 前富国平分期退还所占用的资金本息。 对年度报告涉及未来计划等前瞻性陈述的风险提示 √ 适用 □ 不适用 本公司请投 ...

苏州锦富技术股份有限公司 2019 年第一季度报告 苏州锦富技术股份有限公司 2019 年第一季度报告 二零一九年四月 1 苏州锦富技术股份有限公司 2019 年第一季度报告 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。 公司所有董事均亲自出席了审议本次季报的董事会会议。 公司负责人顾清、主管会计工作负责人邓浩及会计机构负责人(会计主管人员)盛承林声明：保证季度 报告中财务报表的真实、准确、完整。 非标准审计意见提示 □ 适用 √ 不适用 2 苏州锦富技术股份有限公司 2019 年第一季度报告 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 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业总收入（元） | 435,593,131.37 | 678,626,202.08 | -35.81% | | 归属于上市公司股东的净利润（元） | 1,326,754. ...

[Part I Important Notice](index=2&type=section&id=第一节%20重要提示) This section confirms the accuracy and completeness of the quarterly report and highlights the absence of non-standard audit opinions [Board of Directors' Statement](index=2&type=section&id=董事会声明) The company's Board of Directors, Supervisory Board, and senior management affirm the truthfulness, accuracy, and completeness of this quarterly report - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report content[5](index=5&type=chunk) - All directors personally attended the Board meeting to review this quarterly report[6](index=6&type=chunk) - Company head Xiao Peng, chief accountant Deng Hao, and head of accounting department Sheng Chenglin declare and guarantee the truthfulness, accuracy, and completeness of the financial statements[6](index=6&type=chunk) [Non-Standard Audit Opinion Disclosure](index=2&type=section&id=非标准审计意见提示) The company has no non-standard audit opinions for this reporting period - The company has no non-standard audit opinions for this reporting period[7](index=7&type=chunk) [Part II Company Profile](index=3&type=section&id=第二节%20公司基本情况) This section provides an overview of the company's key financial data, indicators, and shareholder information [I. Key Accounting Data and Financial Indicators](index=3&type=section&id=一、主要会计数据和财务指标) The company experienced significant declines in revenue, net profit, and operating cash flow, with total assets growing but net assets attributable to shareholders decreasing [Non-Recurring Gains and Losses](index=4&type=section&id=非经常性损益项目和金额) Year-to-date, non-recurring gains and losses totaled **3.63 million yuan**, primarily from asset disposal, government grants, and other non-operating income/expenses Year-to-Date Non-Recurring Gains and Losses | Item | Amount (yuan) | | :--- | :--- | | Gains or losses from disposal of non-current assets | 944,756.79 | | Government grants recognized in current profit or loss | 2,844,867.92 | | Other non-operating income and expenses apart from the above | 1,788,704.33 | | Less: Income tax impact | 1,348,965.11 | | Minority interest impact (after tax) | 600,115.86 | | **Total** | **3,629,248.07** | - The company did not classify non-recurring gains and losses as recurring gains and losses during the reporting period[11](index=11&type=chunk) Overview of Key Accounting Data and Financial Indicators | Indicator | Current Period End / Current Period | Change (%) (YoY / Period-end vs. Previous Year-end) | | :--- | :--- | :--- | | **Total Assets** | 4,185,527,623.43 yuan | 6.79% | | **Net Assets Attributable to Shareholders of Listed Company** | 2,006,089,606.11 yuan | -1.40% | | **Operating Revenue (Current Period)** | 558,164,022.46 yuan | -26.44% | | **Operating Revenue (Year-to-Date)** | 2,057,508,669.83 yuan | -0.47% | | **Net Profit Attributable to Shareholders of Listed Company (Current Period)** | -16,514,466.94 yuan | -186.06% | | **Net Profit Attributable to Shareholders of Listed Company (Year-to-Date)** | -15,247,432.60 yuan | -145.99% | | **Net Cash Flow from Operating Activities (Year-to-Date)** | -423,845,595.78 yuan | -381.62% | | **Basic Earnings Per Share (Current Period)** | -0.0151 yuan/share | -186.78% | | **Basic Earnings Per Share (Year-to-Date)** | -0.0139 yuan/share | -146.18% | - The company's share capital did not change due to new share issuance, additional issuance, rights issue, equity incentive exercise, or share repurchase, which would affect owner's equity, from the end of the reporting period to the disclosure date of the quarterly report[9](index=9&type=chunk) [II. Total Shareholders and Top Ten Shareholders at Period End](index=4&type=section&id=二、报告期末股东总数及前十名股东持股情况表) As of the reporting period end, the company had **28,810** common shareholders, with significant portions of top shareholders' holdings pledged - The total number of common shareholders at the end of the reporting period was **28,810**, with no preferred shareholders whose voting rights have been restored[13](index=13&type=chunk) Top 10 Shareholders' Shareholding | Shareholder Name | Shareholder Nature | Shareholding Ratio | Number of Shares Held (shares) | Pledged or Frozen Status (shares) | | :--- | :--- | :--- | :--- | :--- | | Fu Guoping | Domestic Natural Person | 11.25% | 123,118,460 | Pledged 123,051,160 | | Shanghai Ruiwei Investment Management Co., Ltd. | Domestic Non-State-Owned Legal Person | 10.01% | 109,471,279 | Pledged 109,470,000 | | Yang Xiaowei | Domestic Natural Person | 8.39% | 91,845,000 | Pledged 91,844,637 | | Li Ji | Domestic Natural Person | 6.22% | 68,105,488 | Pledged 68,103,007 | | Huang Yafu | Domestic Natural Person | 2.60% | 28,465,919 | Pledged 24,636,785 | | Sun Haizhen | Domestic Natural Person | 2.23% | 24,385,846 | No Pledge or Freeze | | Yunnan International Trust Co., Ltd. - Yunnan Trust - Jinfu Technology Phase 2 Employee Stock Ownership Plan Collective Fund Trust Plan | Fund, Wealth Management Product, etc. | 2.21% | 24,232,330 | No Pledge or Freeze | | Li Lin | Domestic Natural Person | 2.17% | 23,716,430 | No Pledge or Freeze | | Wang Jianjun | Domestic Natural Person | 2.11% | 23,108,945 | No Pledge or Freeze | | National Social Security Fund 116 Portfolio | Fund, Wealth Management Product, etc. | 1.83% | 20,000,000 | No Pledge or Freeze | - Fu Guoping and Yang Xiaowei, a married couple, are the company's controlling shareholders and actual controllers, and they form a concerted action with Shanghai Ruiwei Investment Management Co., Ltd[14](index=14&type=chunk) [3. Changes in Restricted Shares](index=6&type=section&id=3、限售股份变动情况) Restricted shares totaled **28.40 million shares** at period end, with changes due to executive lock-up and release of initial public offering restrictions Changes in Restricted Shares | Shareholder Name | Restricted Shares at Beginning of Period (shares) | Shares Released from Restriction in Current Period (shares) | Shares Increased in Restriction in Current Period (shares) | Restricted Shares at End of Period (shares) | Reason for Restriction | | :--- | :--- | :--- | :--- | :--- | :--- | | Huang Yafu | 29,121,373 | 29,121,373 | 28,398,730 | 28,398,730 | Executive Lock-up | | Chen Qixiang | 7,280,343 | 7,280,343 | 0 | 0 | -- | | **Total** | **36,401,716** | **36,401,716** | **28,398,730** | **28,398,730** | -- | - In June 2018, the company implemented its 2017 equity distribution plan, converting capital reserves into shares at a ratio of 3 shares for every 10 shares held, leading to a corresponding increase in shareholders' restricted shares[17](index=17&type=chunk) - Huang Yafu's initial public offering restricted shares were fully released on January 8, 2018, but 75% of his shares remain locked up due to his director status[17](index=17&type=chunk) [Part III Significant Events](index=7&type=section&id=第三节%20重要事项) This section details major changes in financial data, ongoing significant events, unfulfilled commitments, cash dividend policy, profit forecasts, and compliance [I. Significant Changes and Reasons in Key Financial Data and Indicators](index=7&type=section&id=一、报告期主要财务数据、财务指标发生重大变动的情况及原因) The company experienced major shifts in its balance sheet, income statement, and cash flow, driven by increased borrowing, operational changes, and external factors [Balance Sheet Item Changes](index=7&type=section&id=资产负债表项目变动) Significant increases in accounts receivable, prepayments, fixed assets, and short-term borrowings, alongside changes in equity due to capital reserve transfers - Accounts receivable and notes at period end were **885 million yuan**, an increase of **6.98%** from the beginning of the period; accounts receivable notes increased by **81.89%**, primarily due to an increase in customers settling with notes in the current period[20](index=20&type=chunk) - Prepayments at period end were **361 million yuan**, an increase of **56.95%** from the beginning of the period, mainly due to increased prepayments for outsourced manufacturing of new smart system products (Private Message Pass) and material procurement[20](index=20&type=chunk) - Fixed assets at period end were **617 million yuan**, an increase of **34.67%** from the beginning of the period, primarily due to the transfer of Nantong Qiyun IDC and Suzhou Jinfu Phase II factory construction in progress to fixed assets[20](index=20&type=chunk) - Short-term borrowings at period end were **1.11 billion yuan**, an increase of **98.10%** from the beginning of the period, mainly due to increased working capital demand and investment in long-term assets such as fixed assets[20](index=20&type=chunk) - Share capital at period end was **1.09 billion yuan**, an increase of **30.00%** from the beginning of the period, primarily due to the company's implementation of the 2017 equity distribution plan, converting capital reserves into shares at a ratio of 3 shares for every 10 shares held by all shareholders[20](index=20&type=chunk) [Income Statement Item Changes](index=7&type=section&id=利润表项目变动) Financial expenses and investment losses significantly impacted profitability, leading to a substantial decline in total profit - Financial expenses from year-beginning to period end were **40.77 million yuan**, an increase of **170.23%** compared to the same period last year, mainly due to increased interest expenses from higher borrowings and increased exchange losses in the current period[22](index=22&type=chunk) - Investment income from year-beginning to period end was **-2.69 million yuan**, a decrease of **1036.09%** compared to the same period last year, mainly due to increased losses from associate companies accounted for under the equity method in the current reporting period[22](index=22&type=chunk) - Asset disposal income from year-beginning to period end was **961,247.61 yuan**, a decrease of **96.66%** compared to the same period last year, mainly due to the disposal of factory land in Dongguan in the prior year[22](index=22&type=chunk) - Total profit from year-beginning to period end was **-28.74 million yuan**, a decrease of **158.22%** compared to the same period last year, mainly due to increased financial expenses and decreased asset disposal income in the current period[22](index=22&type=chunk) [Cash Flow Statement Item Changes](index=8&type=section&id=现金流量表项目变动) Operating cash flow saw a significant outflow due to prepayments and note settlements, while financing cash flow increased substantially from new borrowings - Net cash flow from operating activities from year-beginning to period end was **-424 million yuan**, a decrease of **381.62%** compared to the same period last year, mainly due to increased prepayments for outsourced manufacturing of new smart system products (Private Message Pass) and a significant increase in the proportion of accounts receivable collected via notes, which had not yet matured for payment at period end[23](index=23&type=chunk) - Cash received from borrowings from year-beginning to period end was **1.11 billion yuan**, an increase of **59.83%** compared to the same period last year, mainly due to increased short-term borrowings in the current period[23](index=23&type=chunk) - Net cash flow from financing activities from year-beginning to period end was **457 million yuan**, an increase of **1245.13%** compared to the same period last year, mainly due to increased borrowings in the current period[23](index=23&type=chunk) - Impact of exchange rate changes on cash and cash equivalents from year-beginning to period end was **16.57 million yuan**, an increase of **263.90%** compared to the same period last year, mainly due to increased exchange gains in the current period[23](index=23&type=chunk) [II. Progress, Impact, and Solutions for Significant Events](index=9&type=section&id=二、重要事项进展情况及其影响和解决方案的分析说明) Ongoing significant events include multiple lawsuits, strategic cooperation with JD.com, employee stock ownership plan status, termination of bond issuance, and a proposed change in controlling shareholder [Litigation Matters](index=9&type=section&id=诉讼事项) The company is involved in several lawsuits, with varying stages of progress, including ongoing trials, appraisals, and collection challenges - The lawsuit of Dongguan Jinfu against Dongguan Sofitel for outstanding payments (involved amount **2.2964 million yuan**) was filed in July 2018, heard on September 14, and is awaiting judgment[26](index=26&type=chunk) - The lawsuit of Xiamen Puteng against the company for product quality issues (involved amount **7.5489 million yuan**) is currently undergoing appraisal, awaiting a second hearing[26](index=26&type=chunk) - The lawsuit of Dongguan Jinfu against Shenzhen Fuxiang for outstanding payments (involved amount **1.3070 million yuan**) resulted in a first-instance victory, with the second-instance appeal rejected and the original judgment upheld, but there are currently no executable assets[26](index=26&type=chunk) [Strategic Agreements](index=9&type=section&id=战略协议) A strategic cooperation with Beijing Zhihuichengxun Information Technology Co., Ltd. to establish JD.com offline smart retail stores has seen its first demonstration store enter trial operation - The strategic cooperation framework agreement between the company and Beijing Zhihuichengxun Information Technology Co., Ltd. (valid for three years from April 9, 2018) aims to establish JD.com offline smart retail stores[28](index=28&type=chunk) - As of the disclosure date of this report, the first demonstration store for JD.com offline smart retail, jointly developed by both parties, has entered trial operation[28](index=28&type=chunk) [Other Significant Matters](index=10&type=section&id=其他重大事项) Key developments include the conclusion of the first employee stock ownership plan's lock-up, the ongoing lock-up of the second plan, termination of a bond issuance, and a proposed change in the controlling shareholder - The lock-up period for the company's first employee stock ownership plan ended on May 17, 2018, and the company will choose an opportune time to exit during its existence period[29](index=29&type=chunk) - The lock-up period for the company's second employee stock ownership plan is from January 16, 2018, to January 15, 2019, and is currently still within the lock-up period[29](index=29&type=chunk) - The company has terminated the non-public issuance of innovation and entrepreneurship corporate bonds, which was originally planned for no more than **1 billion yuan**[29](index=29&type=chunk) - The company's actual controllers, Fu Guoping and Yang Xiaowei, intend to transfer shares via agreement to Taixing Zhicheng Industrial Investment Fund (Limited Partnership), which is expected to become the company's largest shareholder, with the transferee currently conducting due diligence on the listed company[29](index=29&type=chunk)[30](index=30&type=chunk) - Mr. Huang Yafu and Mr. Li Lei, directors of the company, resigned from their positions as directors and members of special committees of the fourth Board of Directors due to personal reasons[30](index=30&type=chunk) [III. Overdue Unfulfilled Commitments by Controlling Shareholders, Shareholders, Related Parties, Acquirers, and the Company](index=11&type=section&id=三、公司实际控制人、股东、关联方、收购人以及公司等承诺相关方在报告期内超期未履行完毕的承诺事项) There were no overdue unfulfilled commitments by controlling shareholders, shareholders, related parties, acquirers, or the company during the reporting period - The company had no overdue unfulfilled commitments during the reporting period[31](index=31&type=chunk) [IV. Execution of Cash Dividend Policy During the Reporting Period](index=11&type=section&id=四、报告期内现金分红政策的执行情况) The company's cash dividend policy was not applicable during the reporting period - The company's cash dividend policy was not applicable during the reporting period[31](index=31&type=chunk) [V. Warning and Explanation of Potential Cumulative Net Profit Loss or Significant Change from Year-Ago Period](index=11&type=section&id=五、预测年初至下一报告期期末的累计净利润可能为亏损或者与上年同期相比发生重大变动的警示及原因说明) The company forecasts a potential cumulative net profit loss for the next reporting period due to reduced solar business orders, increased data center depreciation, higher interest expenses, and potential goodwill impairment - Cumulative net profit from year-beginning to the end of the next reporting period is predicted to be a loss[31](index=31&type=chunk) - Reasons for the loss include: the "531 New Policy" for photovoltaics led to a significant reduction in solar business orders and an increased risk of related asset impairment losses[31](index=31&type=chunk) - Reasons for the loss include: Phase I of the wholly-owned subsidiary Nantong Qiyun Data Center project was transferred to fixed assets and depreciation was accrued, and if cabinet sales fall below expectations, losses will continue[31](index=31&type=chunk) - Reasons for the loss include: a significant increase in the company's borrowings during the year led to a substantial increase in interest expenses[31](index=31&type=chunk) - Reasons for the loss include: affected by factors such as the sluggish domestic and international economy, there may be a risk of goodwill impairment in the company's consolidated financial statements[31](index=31&type=chunk) [VI. Irregular External Guarantees](index=11&type=section&id=六、违规对外担保情况) There were no irregular external guarantees by the company during the reporting period - The company had no irregular external guarantees during the reporting period[33](index=33&type=chunk) [VII. Non-Operating Funds Occupied by Controlling Shareholders and Related Parties](index=12&type=section&id=七、控股股东及其关联方对上市公司的非经营性占用资金情况) There were no non-operating funds occupied by controlling shareholders or their related parties from the listed company during the reporting period - The company had no non-operating funds occupied by controlling shareholders or their related parties during the reporting period[34](index=34&type=chunk) [Part IV Financial Statements](index=13&type=section&id=第四节%20财务报表) This section presents the company's consolidated and parent company financial statements, including balance sheets, income statements, and cash flow statements [1. Consolidated Balance Sheet](index=13&type=section&id=1、合并资产负债表) As of September 30, 2018, consolidated assets increased by **6.79%** to **4.19 billion yuan**, while short-term borrowings nearly doubled, and net assets attributable to the parent company slightly decreased Consolidated Balance Sheet Key Data (Period End) | Item | Period-end Balance (yuan) | Beginning-of-period Balance (yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 4,185,527,623.43 | 3,919,511,947.72 | 6.79% | | Total Current Assets | 2,252,541,216.75 | 2,010,567,828.30 | 12.04% | | Total Non-Current Assets | 1,932,986,406.68 | 1,908,944,119.42 | 1.26% | | Total Liabilities | 2,057,061,763.25 | 1,761,995,869.39 | 16.75% | | Short-term Borrowings | 1,105,669,004.11 | 558,133,148.30 | 98.10% | | Total Owner's Equity Attributable to Parent Company | 2,006,089,606.11 | 2,034,674,700.82 | -1.40% | [2. Parent Company Balance Sheet](index=16&type=section&id=2、母公司资产负债表) As of September 30, 2018, parent company assets increased by **5.35%** to **2.61 billion yuan**, with short-term borrowings significantly rising and owner's equity slightly decreasing Parent Company Balance Sheet Key Data (Period End) | Item | Period-end Balance (yuan) | Beginning-of-period Balance (yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 2,612,298,560.03 | 2,479,528,047.84 | 5.35% | | Total Current Assets | 1,032,971,575.43 | 898,815,891.65 | 14.92% | | Total Non-Current Assets | 1,579,326,984.60 | 1,580,712,156.19 | -0.09% | | Total Liabilities | 574,320,435.26 | 407,495,508.08 | 40.94% | | Short-term Borrowings | 339,044,240.95 | 179,634,877.94 | 88.74% | | Total Owner's Equity | 2,037,978,124.77 | 2,072,032,539.76 | -1.64% | [3. Consolidated Income Statement for the Current Period](index=18&type=section&id=3、合并本报告期利润表) In Q3 2018, consolidated revenue decreased by **26.44%** to **558.16 million yuan**, and the company reported a net loss of **16.51 million yuan** due to increased costs, financial expenses, and reduced investment income Consolidated Income Statement Key Data (Current Period) | Item | Current Period Amount (yuan) | Prior Period Amount (yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 558,164,022.46 | 758,786,930.86 | -26.44% | | Total Operating Costs | 584,169,098.86 | 738,473,476.45 | -20.90% | | Financial Expenses | 16,801,106.72 | 4,918,623.34 | 241.61% | | Investment Income | -2,331,289.05 | -268,986.73 | -766.76% | | Total Profit | -27,434,331.40 | 30,754,116.17 | -189.20% | | Net Profit Attributable to Parent Company Owners | -16,514,466.94 | 19,189,738.65 | -186.06% | | Basic Earnings Per Share | -0.0151 | 0.0174 | -186.78% | [4. Parent Company Income Statement for the Current Period](index=20&type=section&id=4、母公司本报告期利润表) In Q3 2018, parent company revenue increased by **33.49%** to **96.58 million yuan**, but a significant rise in financial expenses and negative investment income led to a net loss of **8.85 million yuan** Parent Company Income Statement Key Data (Current Period) | Item | Current Period Amount (yuan) | Prior Period Amount (yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 96,584,774.65 | 72,356,619.95 | 33.49% | | Financial Expenses | 1,645,689.53 | 620,709.97 | 165.14% | | Investment Income | -1,405,756.08 | 83,034,310.74 | -1016.32% | | Total Profit | -11,031,486.97 | 71,953,941.02 | -115.33% | | Net Profit | -8,845,543.90 | 73,234,149.03 | -112.08% | | Basic Earnings Per Share | -0.0081 | 0.0665 | -112.18% | [5. Consolidated Income Statement from Year-Beginning to Period End](index=22&type=section&id=5、合并年初到报告期末利润表) Year-to-date, consolidated revenue slightly decreased by **0.47%** to **2.06 billion yuan**, but a substantial increase in financial expenses and a sharp decline in investment income resulted in a net loss of **15.25 million yuan** Consolidated Income Statement Key Data (Year-Beginning to Period End) | Item | Current Period Amount (yuan) | Prior Period Amount (yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 2,057,508,669.83 | 2,067,321,624.51 | -0.47% | | Financial Expenses | 40,767,645.06 | 15,086,302.82 | 170.23% | | Investment Income | -2,689,095.51 | -236,697.87 | -1036.09% | | Asset Disposal Income | 961,247.61 | 28,771,342.54 | -96.66% | | Total Profit | -28,735,196.01 | 49,355,690.11 | -158.22% | | Net Profit Attributable to Parent Company Owners | -15,247,432.60 | 33,154,353.51 | -145.99% | | Basic Earnings Per Share | -0.0139 | 0.0301 | -146.18% | [6. Parent Company Income Statement from Year-Beginning to Period End](index=24&type=section&id=6、母公司年初到报告期末利润表) Year-to-date, parent company revenue increased by **20.28%** to **235.29 million yuan**, but negative impacts from financial expenses and investment income led to a net loss of **25.64 million yuan** Parent Company Income Statement Key Data (Year-Beginning to Period End) | Item | Current Period Amount (yuan) | Prior Period Amount (yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 235,289,476.29 | 195,629,300.03 | 20.28% | | Financial Expenses | 5,936,144.61 | 4,927,787.59 | 20.46% | | Investment Income | -509,003.85 | 142,387,905.42 | -100.36% | | Total Profit | -33,348,080.38 | 105,723,293.76 | -131.54% | | Net Profit | -25,638,792.56 | 111,068,289.19 | -123.08% | | Basic Earnings Per Share | -0.0234 | 0.1009 | -123.20% | [7. Consolidated Cash Flow Statement from Year-Beginning to Period End](index=26&type=section&id=7、合并年初到报告期末现金流量表) Year-to-date, consolidated operating cash flow showed a significant outflow of **423.85 million yuan**, while financing cash flow substantially increased by **1245.13%** due to new borrowings Consolidated Cash Flow Statement Key Data (Year-Beginning to Period End) | Item | Current Period Amount (yuan) | Prior Period Amount (yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -423,845,595.78 | -88,004,588.18 | -381.62% | | Net Cash Flow from Investing Activities | -79,063,111.36 | -64,343,687.22 | -22.88% | | Net Cash Flow from Financing Activities | 457,486,153.25 | 34,010,458.06 | 1245.13% | | Net Increase in Cash and Cash Equivalents | -28,854,215.22 | -128,446,599.93 | 77.55% | [8. Parent Company Cash Flow Statement from Year-Beginning to Period End](index=28&type=section&id=8、母公司年初到报告期末现金流量表) Year-to-date, parent company operating cash flow showed a significant outflow of **304.79 million yuan**, while both investing and financing cash flows saw substantial inflows Parent Company Cash Flow Statement Key Data (Year-Beginning to Period End) | Item | Current Period Amount (yuan) | Prior Period Amount (yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -304,788,176.16 | -73,192,473.32 | -316.47% | | Net Cash Flow from Investing Activities | 114,668,638.58 | 46,367,732.52 | 147.33% | | Net Cash Flow from Financing Activities | 142,738,790.85 | 68,001,320.51 | 109.90% | | Net Increase in Cash and Cash Equivalents | -45,297,890.64 | 39,306,987.86 | -215.24% | [II. Audit Report](index=29&type=section&id=二、审计报告) The company's 2018 third-quarter report is unaudited - The company's third-quarter report is unaudited[67](index=67&type=chunk)