Financial Performance - Revenue for Q1 2021 reached ¥225,839,744.45, an increase of 34.88% compared to ¥167,439,277.26 in the same period last year[9] - Net profit attributable to shareholders was ¥3,902,092.78, a decrease of 22.04% from ¥5,005,006.23 year-on-year[9] - Basic earnings per share decreased by 21.68% to ¥0.0112 from ¥0.0143 in the same period last year[9] - The company's operating revenue for the period reached RMB 225.84 million, an increase of 34.88% compared to the same period last year[29] - Net profit for Q1 2021 was CNY 3,054,111.65, compared to CNY 3,500,623.02 in the same period last year, reflecting a decrease of approximately 12.7%[67] - The total comprehensive income for Q1 2021 was CNY 11,926,506.82, significantly higher than CNY 2,086,435.98 in the same period last year[68] Cash Flow and Assets - Net cash flow from operating activities improved to -¥34,711,883.28, a 67.63% increase from -¥107,227,816.89 in the previous year[9] - The company's current assets totaled CNY 794,706,932.15, up from CNY 778,079,562.98 at the end of 2020, indicating an increase of about 2.4%[57] - Cash and cash equivalents decreased to CNY 198,803,900.76 from CNY 253,029,247.75, representing a decline of approximately 21.5%[57] - The net cash flow from operating activities is -34,711,883.28, an improvement from -107,227,816.89 in the previous period[75] - The ending balance of cash and cash equivalents was 40,128,407.97, down from 68,697,530.01 in the previous year[79] Assets and Liabilities - Total assets increased by 6.88% to ¥1,239,430,911.64 from ¥1,159,685,022.93 at the end of the previous year[9] - Total liabilities reached CNY 600,465,776.73, up from CNY 532,646,394.84, which is an increase of about 12.7%[59] - The company's total equity as of March 31, 2021, was CNY 638,965,134.91, compared to CNY 627,038,628.09 at the end of 2020, showing a growth of approximately 1.5%[60] - The non-current liabilities increased significantly from CNY 30,996,586.16 to CNY 75,903,543.18, reflecting a rise of approximately 144.5%[59] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 22,126[13] - Major shareholder Li Mantie holds 17.59% of the shares, with 46,120,882 shares pledged[13] Research and Development - Research and development expenses for Q1 2021 were CNY 11,105,059.11, compared to CNY 9,155,456.50 in the previous year, indicating a growth of approximately 21.3%[66] - The company plans to increase R&D and market promotion of Micro LED ultra-high-definition display products to capitalize on industry opportunities[42] Market and Business Strategy - Revenue from Micro LED ultra-high-definition display business based on COB technology grew by 130% year-on-year, with domestic market growth at 187%[40] - The company is focusing on the 5G+8K visual transformation, aiming to enhance its market share in the ultra-high-definition Micro LED display sector[42] - The company faces risks from international trade policies and exchange rate fluctuations, which may impact its overseas business[45] - The company aims to mitigate risks by optimizing product structure and enhancing international market presence through financial hedging tools[45] Management and Governance - The company is committed to improving its management capabilities to address challenges arising from business scale expansion[47] - The company emphasizes the importance of protecting its core technologies and retaining key personnel to maintain its competitive edge[48] Other Financial Metrics - Non-recurring gains and losses amounted to ¥2,122,561.63, primarily from government subsidies and other income[11] - The company reported a weighted average return on equity of 0.64%, up from 0.55% in the previous year[9] - The company's financial expenses rose by 112.28% year-on-year to RMB 575,700, mainly due to exchange rate fluctuations[32]

Financial Performance - The company's operating revenue for 2020 was ¥818,833,110.50, a decrease of 15.31% compared to ¥966,897,140.76 in 2019[25]. - The net profit attributable to shareholders in 2020 was -¥315,540,892.51, representing a decline of 880.90% from a profit of ¥40,407,138.22 in 2019[25]. - The net cash flow from operating activities was -¥10,150,115.77 in 2020, a decrease of 125.31% compared to ¥40,110,631.55 in 2019[25]. - The total assets at the end of 2020 were ¥1,159,685,022.93, down 16.89% from ¥1,395,339,573.90 at the end of 2019[25]. - The net assets attributable to shareholders decreased by 34.13% to ¥600,629,074.50 at the end of 2020 from ¥911,861,177.73 at the end of 2019[25]. - The company reported a basic earnings per share of -¥0.90 in 2020, compared to ¥0.12 in 2019, marking an 850.00% decline[25]. - The company reported a total revenue of ¥818,833,110.50 in 2020, a decrease of 15.31% compared to ¥966,897,140.76 in 2019[81]. - Revenue from LED display products was ¥477,609,891.33, accounting for 58.33% of total revenue, down 10.75% from the previous year[81]. - The gross profit margin for LED products decreased to 21.51%, down 5.47% from the previous year[87]. - The company reported a negative retained earnings of RMB -315,540,892.5 for 2020, resulting in a cash dividend payout ratio of 0.00%[158]. Market and Product Development - Micro LED ultra-high-definition display business revenue increased by 47% year-on-year, with domestic market growth of 62%[6]. - The company plans to enhance its full range of LED product structure, focusing on ultra-high-definition display products as the core[6]. - The company is actively improving the operational situation of its wholly-owned subsidiary, Shenzhen Tuoxiang Technology Co., Ltd., which has over 90% of its revenue from overseas[7]. - The company plans to accelerate capacity release and ecological layout of Micro LED display products in various professional fields[6]. - The company focuses on the LED industry, particularly in the 8K ultra-high-definition display and lighting sectors, with a leading position in Micro LED technology[34]. - The company has established a comprehensive ecosystem of LED products and solutions, including the LEDHUB smart conference system and smart lighting solutions[34]. - The company aims to develop smart lighting and health lighting as key themes in 2020, with significant growth in UV LED and plant lighting segments[40]. - The company’s Micro LED products have been widely applied in various professional and commercial display fields, enhancing its market reputation[51]. - The company has established a comprehensive product ecosystem around COB technology, including Micro LED ultra-high-definition displays and smart lighting solutions[52]. - The company aims to achieve a brightness of over 7500 nits during the day for its lightweight LED glass curtain wall display technology[98]. Sales and Marketing Strategies - Increased domestic sales expenses due to the expansion of the domestic sales team and optimization of sales strategies[11]. - The company faced a decline in overseas sales orders and customer demand due to the global pandemic, resulting in a decrease in operating revenue[10]. - The company is leveraging online marketing strategies to promote its products due to reduced opportunities for physical exhibitions during the pandemic[68]. - The company is actively expanding its sales team and establishing showrooms in major cities, enhancing its presence in key regions and industries[66]. - The company’s LED lighting products experienced a recovery in orders in the second half of 2020, driven by domestic new infrastructure initiatives[40]. - The company’s business model includes direct sales and distribution, with a strategic alliance approach to high-quality customers[39]. Research and Development - The company has accumulated nearly 300 domestic patents, including 60 related to COB technology, establishing a complete independent intellectual property system[48]. - The company’s R&D expenses increased as it focused on developing new COB ultra-high-definition LED display technologies[56]. - Research and development expenses increased by 32.06% to ¥58.62 million, primarily due to increased personnel and material investments[96]. - The company has established a professional technical R&D team to continuously innovate in ultra-high-definition display technology, enhancing product competitiveness[71]. Financial Management and Investments - The company reported a net cash flow from financing activities of ¥90,385,303.88 in 2020, a significant increase of 428.08% year-on-year[101]. - Total cash and cash equivalents increased by ¥68,112,411.98 in 2020, compared to a decrease of ¥22,254,396.38 in 2019[101]. - The company has engaged in entrusted financial management during the reporting period[194]. - The company has a total of 20,678 million yuan in entrusted financial management, with an overdue amount of 1,270 million yuan[195]. - The company has invested 1,000 million yuan in a bank financial product with a return rate of 3.30%, which has been fully repaid[195]. Corporate Governance and Compliance - The company has established a three-year shareholder return plan (2020-2022) to enhance investor returns and promote long-term investment[153]. - The company is focusing on protecting its intellectual property and enhancing the quality of its core team to mitigate risks related to technology leaks and personnel turnover[147]. - The company has implemented a comprehensive internal epidemic prevention policy to ensure employee health and safety during the pandemic[148]. - The company has made commitments to maintain a clear separation between its operations and those of its affiliates to avoid conflicts of interest[161]. - The company has not faced any penalties or rectification issues during the reporting period[174]. Risks and Challenges - The company is exposed to risks related to international trade policies, exchange rate fluctuations, and intensified market competition[12]. - Increased market competition and technological innovation pose risks, necessitating continuous product development and service improvement[145]. - The expansion of business scale introduces operational management risks, requiring enhanced governance and internal control mechanisms[146].

深圳雷曼光电科技股份有限公司 2020 年第三季度报告全文 深圳雷曼光电科技股份有限公司 Ledman Optoelectronic Co.,Ltd. 2020年第三季度报告 2020 年 10 月 1 深圳雷曼光电科技股份有限公司 2020 年第三季度报告全文 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。 公司负责人李漫铁、主管会计工作负责人张琰及会计机构负责人(会计主管 人员)张琰声明：保证季度报告中财务报表的真实、准确、完整。 2 除下列董事外，其他董事亲自出席了审议本次季报的董事会会议 未亲自出席董事姓名 未亲自出席董事职务 未亲自出席会议原因 被委托人姓名 金鹏 独立董事 因公出差 周玉华 深圳雷曼光电科技股份有限公司 2020 年第三季度报告全文 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 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | ...

Financial Performance - The company's operating revenue for the first half of 2020 was ¥392,858,000, a decrease of 9.89% compared to ¥435,954,988 in the same period last year[21]. - The net profit attributable to shareholders was ¥5,667,482, down 69.76% from ¥18,744,099 in the previous year[21]. - The net cash flow from operating activities was -¥104,303,278.63, a decline of 434.86% compared to ¥31,148,548.65 in the same period last year[21]. - The basic earnings per share decreased by 60.00% to ¥0.02 from ¥0.05 in the previous year[21]. - Total assets at the end of the reporting period were ¥1,380,756,142.57, a decrease of 1.05% from ¥1,395,339,573.90 at the end of the previous year[21]. - The net assets attributable to shareholders were ¥911,201,723.27, a slight decrease of 0.07% from ¥911,861,177.73 at the end of the previous year[21]. - The company reported a net profit excluding non-recurring gains and losses of -¥1,097,082.51, a decline of 108.21% compared to ¥13,361,214.91 in the previous year[21]. - The weighted average return on net assets was 0.62%, down from 1.80% in the previous year[21]. - The company achieved a revenue of CNY 392.86 million in the first half of 2020, a decrease of 9.89% compared to the same period last year[68]. - The net profit attributable to ordinary shareholders was CNY 5.67 million, down 69.76% year-on-year[68]. Market and Industry Trends - The overall scale of China's ultra-high-definition video industry is expected to exceed 4 trillion yuan by 2022, with user numbers reaching 200 million[31]. - The global video conferencing market is projected to grow at a compound annual growth rate of 8.3%, reaching $64.6 billion by 2021[36]. - The investment scale of "new infrastructure" is expected to exceed 2 trillion yuan in 2020, providing a favorable market environment for ultra-high-definition displays[32]. - The LED industry is expected to see a compound annual growth rate of 27% from 2019 to 2023 for small-pitch LED displays, driven by increasing demand in government and public service sectors[57]. Product Development and Innovation - The company launched a new generation of Micro LED displays with a pixel pitch of 0.6mm, enhancing product competitiveness and application boundaries[38]. - The company has developed and mass-produced Micro LED displays with pixel pitches of 0.6mm, 0.7mm, 0.9mm, 1.2mm, 1.5mm, and 1.9mm[38]. - The company’s Micro LED products are expected to become a significant growth driver in the LED display market due to their advanced COB technology[34]. - The company’s Micro LED display technology is recognized as a leading next-generation display technology, addressing traditional LED display pain points[34]. - The company’s Micro LED pixel engine display technology was globally launched in July 2020, enhancing resolution without significantly increasing costs[40]. - The company has launched a full range of Micro LED display products with pixel pitches from 0.6mm to 1.9mm, achieving mass production and representing advanced global standards[43]. - The company’s innovative LED creative displays are tailored for various high-traffic venues, enhancing advertising and engagement opportunities[46]. - The company’s Micro LED technology, based on COB packaging, is gaining traction due to its reliability, superior image quality, and cost-effectiveness, positioning it as a key growth driver in the LED market[57]. Sales and Marketing Strategies - The company’s sales strategy focuses on both domestic and international markets, with a significant emphasis on strategic alliances with high-quality clients[54]. - The company is actively expanding its market presence in the ultra-high-definition display sector, supported by national policies and increasing market demands[56]. - The company increased its domestic sales expenses by 54.7% compared to the previous year to expand its domestic market presence[68]. - The company has optimized sales teams and increased investment in key regions and blank markets to enhance market coverage[71]. Financial Management and Investments - The company plans to raise funds through a non-public offering to expand production capacity for Micro LED displays, enhancing scale efficiency and supply capability[84]. - The company has established a subsidiary in Vietnam to set up an LED lighting production base, aiming to reduce production costs and enhance product competitiveness[86]. - The company reported a significant increase in cash flow from financing activities, which rose by 897.01% to ¥89,228,814.39 from -¥11,195,449.29 in the previous year[91]. - The total investment amount for the reporting period was ¥49.13 million, a significant increase of 2,308.13% compared to the previous year's investment amount[100]. - The company has committed to maximizing shareholder value through effective fund management and operational strategies[112]. Corporate Governance and Risk Management - The company is focused on improving its governance structure and financial systems to manage the risks associated with business scale expansion[128]. - The company will strengthen the rigor of its investment decision-making and post-investment management processes to mitigate risks related to external investments and goodwill impairment[129]. - The company has not engaged in derivative investments or entrusted loans during the reporting period[119][121]. - The company has no major litigation or arbitration matters that could significantly impact its operations during the reporting period[141]. - The company is involved in several ongoing lawsuits with amounts in dispute, including 1,056.88 million yuan related to a contract dispute with the Portugal Football Federation, which is pending[141]. Social Responsibility and Community Engagement - The company actively participated in social responsibility initiatives, donating 1,500 energy-saving LED tubes and 330 efficient panel lights during the pandemic[88]. Shareholder Information - Major shareholders include Li Mantie (17.59%), Wang Lishan (11.72%), and Urumqi Jiede Equity Investment Partnership (11.52%) [179]. - The company has no changes in controlling shareholders or actual controllers during the reporting period [181]. - The report indicates no preferred shares or convertible bonds issued during the reporting period [184][187]. Challenges and Future Outlook - The COVID-19 pandemic has posed challenges to the company's growth, with potential impacts on performance if the situation does not improve in the short term[131]. - The company plans to enhance its internal epidemic prevention measures and adjust business strategies to meet market demands during the pandemic, aiming to maintain operational quality and progress on annual plans[131].

Financial Performance - The company's operating revenue for 2019 was CNY 966,897,140.76, representing a 31.82% increase compared to CNY 733,522,239.13 in 2018[18] - The net profit attributable to shareholders in 2019 was CNY 40,407,138.22, a significant turnaround from a loss of CNY 36,478,778.29 in 2018, marking a 210.77% increase[18] - The net profit after deducting non-recurring gains and losses was CNY 30,411,108.04, compared to a loss of CNY 43,826,701.20 in the previous year, reflecting a 169.39% improvement[18] - The basic earnings per share for 2019 was CNY 0.12, up 220.00% from a loss of CNY 0.10 per share in 2018[18] - The total revenue for 2019 reached ¥966.90 million, representing a year-on-year increase of 31.82% compared to ¥733.52 million in 2018[71] - The net profit attributable to ordinary shareholders was CNY 40,407,138.22, reflecting a significant growth of 210.77% compared to the previous year[55] - Revenue from COB-based Micro LED ultra-high-definition display products grew by 354%, significantly enhancing market share[55] - Domestic business revenue increased by 70% year-on-year, driven by the expansion into ultra-high-definition and conventional display markets[56] - International business revenue rose by 21% year-on-year, with balanced growth across regions including North America, South America, and Asia-Pacific[59] Assets and Liabilities - The total assets at the end of 2019 amounted to CNY 1,395,339,573.90, a 2.22% increase from CNY 1,364,991,543.07 at the end of 2018[18] - The net assets attributable to shareholders decreased by 11.70% to CNY 911,861,177.73 from CNY 1,032,732,414.32 in 2018[18] - Accounts receivable increased to CNY 296.29 million, accounting for 21.23% of total assets, up from 15.12% the previous year, driven by revenue growth[93] - Inventory rose to CNY 230.34 million, representing 16.51% of total assets, an increase attributed to expanded sales scale[93] - The company's short-term borrowings increased to CNY 500,000, reflecting a new addition to the liabilities[93] Cash Flow - The net cash flow from operating activities was CNY 40,110,631.55, down 21.26% from CNY 50,941,226.03 in the previous year[18] - The net cash flow from investing activities was -CNY 34.71 million, a significant decrease of 147.77% year-on-year, mainly due to reduced net inflows from the purchase and redemption of financial products[91] - The net cash flow from financing activities was -CNY 27.55 million, an improvement of 60.57% compared to the previous year, largely due to dividend distributions made in the prior year[92] Market Position and Growth Opportunities - The ultra-high-definition industry in China is expected to exceed ¥4 trillion by 2022, with user numbers reaching 200 million, providing significant growth opportunities for the company[28] - The company has become the sole partner in the LED industry for China's aerospace sector, enhancing its market position[30] - The LED display market is expected to grow significantly, with a projected compound annual growth rate of 27% for small-pitch LED displays from 2019 to 2023[115] - The company aims to accelerate the market coverage of Micro LED ultra-high-definition display products, focusing on domestic market expansion and enhancing sales capabilities[119] Research and Development - The company has seven major R&D projects underway, including COB P1.58 display technology and new COB packaging glue, aimed at enhancing display quality and efficiency[87] - The number of R&D personnel increased to 242 in 2019, accounting for 17.16% of the total workforce, up from 9.73% in 2018[88] - The company plans to apply for a total of 10 new patents during the implementation of its R&D projects[87] Risks and Challenges - The company faces risks including international trade policy changes, exchange rate fluctuations, and intensified market competition, which are detailed in the report[6] - Increased market competition and technological innovation pose risks, necessitating a focus on product development and customer service to maintain competitive advantage[126] - The COVID-19 pandemic has posed challenges to the company's growth, but government policies such as tax reductions are expected to alleviate operational pressures[131] Corporate Governance and Compliance - The company has committed to ensuring that project delays will not significantly impact current production capacity[106] - The company has established a commitment to ensure that any related transactions are conducted fairly and transparently, protecting the rights of minority shareholders[146] - The company has maintained strict compliance with commitments regarding the separation of interests between itself and its affiliates[142] Dividend Distribution - For the fiscal year 2019, the company distributed a cash dividend of 0.05 yuan per share, totaling 1,747,550.15 yuan, which represents 37.27% of the distributable profit[136] - The total cash dividend for 2019 accounted for 4.32% of the net profit attributable to ordinary shareholders, with no dividends distributed in 2018[139] Environmental Responsibility - The company promotes environmental responsibility by adopting green manufacturing technologies and reducing solid waste emissions[194] - The company donated 1,500 energy-saving LED tubes and 330 sets of high-efficiency panel lights to support medical facilities during the COVID-19 pandemic[191]

Financial Performance - Total revenue for Q1 2020 was ¥167,439,277.26, a decrease of 22.76% compared to ¥216,789,005.46 in the same period last year[9] - Net profit attributable to shareholders was ¥5,005,006.23, down 58.72% from ¥12,124,072.59 year-on-year[9] - Net profit excluding non-recurring items was ¥1,816,058.80, a decline of 75.74% from ¥7,485,227.45 in the previous year[9] - Basic earnings per share decreased by 59.14% to ¥0.0143 from ¥0.0350 year-on-year[9] - Operating income for Q1 2020 was CNY 167,439,277.26, a decrease of 22.76% year-on-year; net profit attributable to shareholders decreased by 58.72% compared to Q1 2019[36] - The total operating revenue for Q1 2020 was CNY 82,958,599.40, compared to CNY 88,615,820.01 in the previous period, indicating a decrease of approximately 6.5%[84] - The net profit for Q1 2020 was CNY 3,500,623.02, down from CNY 14,451,726.91 in the same period last year, representing a decline of approximately 75.7%[81] - The total profit for Q1 2020 was CNY 4,111,333.93, down from CNY 16,270,580.33, indicating a decline of about 74.7%[81] - The total comprehensive income for Q1 2020 was CNY 2,086,435.98, compared to CNY 10,371,805.06 in the previous year, reflecting a decline of about 80.0%[82] Cash Flow and Assets - Net cash flow from operating activities was -¥107,227,816.89, representing a 416.00% decrease compared to -¥20,780,596.49 in the same period last year[9] - As of the end of the reporting period, cash and cash equivalents decreased by 33.74% compared to the beginning of the year, primarily due to increased payments for goods[19] - Cash inflow from sales of goods and services was $175,447,893.26, a decrease from $185,292,597.50 in the previous period[88] - Net cash outflow from operating activities was -$107,227,816.89, compared to -$20,780,596.49 in the previous period, indicating a significant increase in losses[89] - The ending cash and cash equivalents balance was $107,360,666.32, down from $121,965,400.30 at the beginning of the period[90] - The company reported a net increase in cash and cash equivalents of -$14,604,733.98, compared to -$38,784,902.14 in the previous period, reflecting improved cash management[90] - Total current assets decreased to CNY 857.10 million from CNY 915.79 million, reflecting a reduction of approximately 6.4%[70] - Cash and cash equivalents decreased from CNY 126,363,769.01 to CNY 68,697,531.01, a decline of approximately 45.6%[74] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 27,149[12] - The largest shareholder, Li Mantie, holds 17.59% of the shares, with 61,494,509 shares pledged[12] - The company’s major shareholders completed a share reduction plan, selling a total of 17,455,000 shares, which represents 4.994% of the total share capital, between November 29, 2019, and March 12, 2020[57] Investments and Projects - The "High Brightness LED Packaging Device Expansion Project" has a total investment of 9,672 million, with 100% completion as of December 31[61] - The "High-end LED Display and LED Lighting Energy-saving Products Expansion Project" has a total investment of 4,642 million, also with 100% completion as of December 31[61] - The company plans to invest CNY 30 million to establish a wholly-owned subsidiary, Shenzhen Lehman Energy Development Co., Ltd., and will permanently supplement working capital with CNY 27.68 million from other operating funds[63] - The cumulative investment in committed projects is 14,314 million, with a total expected benefit of 2,304.4 million[61] - The company has faced delays in project implementation due to insufficient power supply and lengthy approval processes[62] Market and Product Development - The company launched a new generation of Micro LED display products with a 0.6mm pixel pitch, showcasing technological innovation and market penetration[37] - The new Micro LED products include standard sizes such as 54-inch 2K, 108-inch 4K, and 216-inch 8K displays, catering to various professional and commercial display needs[38] - The company has completed small-batch trial production of the new Micro LED products, which are ready for mass production based on market demand[38] - The company has established a Micro LED product sales team and is actively expanding its market presence through various channels, including online promotions and participation in international exhibitions[39] - The company is focused on enhancing its Micro LED ultra-high-definition display product development and market promotion to capitalize on growth opportunities[45] Operational Challenges and Risks - The COVID-19 pandemic has posed challenges to the company's growth, but government policies such as tax reductions are expected to alleviate operational pressures, while the company will adapt its business strategies to meet market demands during this period[54] - The company faces risks from international trade policies and exchange rate fluctuations, which could impact its overseas business[48] - The company is addressing intensified market competition and technological innovation risks by enhancing its product development and service quality[49] - The company is implementing measures to improve its management capabilities in response to the challenges posed by business scale expansion[50] Management and Governance - The company emphasizes the importance of rigorous decision-making and thorough due diligence in external investments to minimize the risk of goodwill impairment affecting future performance[52] - The company is committed to strengthening its internal management processes post-investment to enhance operational efficiency and synergy among business segments[52] - The company has accumulated multiple intellectual property rights and core patents, and aims to enhance talent retention and loyalty through optimized compensation and incentive mechanisms to prevent core technology leakage and personnel loss[53] - The company has not reported any overdue commitments from its actual controllers, shareholders, or related parties during the reporting period[59] - The company has not reported any non-operating fund occupation by controlling shareholders or their affiliates during the reporting period[66]

Financial Performance - Operating revenue for the reporting period was CNY 253,087,404.95, an increase of 41.65% year-on-year[9] - Net profit attributable to shareholders increased by 660.62% to CNY 22,290,277.13 for the reporting period[9] - Basic earnings per share rose by 659.52% to CNY 0.0638[9] - The company reported a net profit excluding non-recurring gains and losses of CNY 20,516,037.37, a year-on-year increase of 640.05%[9] - The company's operating revenue for the period reached 688.04 million yuan, an increase of 30.88% compared to the same period last year[26] - Total operating revenue for Q3 2019 was CNY 253,087,404.95, an increase of 41.5% compared to CNY 178,664,888.77 in the same period last year[49] - Net profit for Q3 2019 reached CNY 23,670,690.63, compared to CNY 3,838,992.22 in Q3 2018, marking a significant increase of 517.5%[50] - The total revenue for the year-to-date period reached CNY 689,042,393.02, compared to CNY 526,462,724.29 in the same period last year, indicating a growth of approximately 30.8%[55] - The company reported a net profit of CNY 45,248,272.41 for the year-to-date period, compared to CNY 15,359,805.90 in the previous year, marking an increase of approximately 194.5%[57] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,323,411,719.50, a decrease of 3.05% compared to the end of the previous year[9] - The company's total assets as of September 30, 2019, were 1.32 billion yuan, a decrease from 1.36 billion yuan at the end of 2018[40] - The company's total liabilities increased to 354.58 million yuan from 308.52 million yuan at the end of 2018[41] - The total equity attributable to shareholders of the parent company was CNY 938,924,373.54, down from CNY 1,032,732,414.32[45] - The company's estimated liabilities increased by 100.71% compared to the beginning of the year, mainly due to an increase in sales and warranty provisions[24] - Total liabilities amounted to CNY 297,667,109.67, remaining stable compared to the previous period[74] - The company’s total current liabilities were CNY 131,171,457.68, including accounts payable of CNY 68,016,692.08 and short-term borrowings[78] Cash Flow - Cash flow from operating activities increased by 540.72% to CNY 43,082,916.98 year-to-date[9] - The net cash flow from operating activities increased by 540.72% compared to the same period last year, mainly due to an increase in cash received from sales of goods and services[33] - The cash flow from operating activities generated a net amount of CNY 43,082,916.98, a turnaround from a net outflow of CNY -9,775,679.61 in the previous year[65] - The company reported a total cash inflow from operating activities of CNY 774,580,212.40, compared to CNY 569,449,115.21 in the same period last year[65] - The total cash outflow from operating activities was CNY 731,497,295.42, compared to CNY 579,224,794.82 in the previous year[65] - Operating cash flow for the current period was CNY 334,413,126.37, an increase of 47.5% compared to CNY 226,698,703.69 in the previous period[69] Inventory and Receivables - Accounts receivable decreased by 52.80% compared to the beginning of the year, mainly due to a reduction in accepted bills[17] - Inventory increased significantly to CNY 11,789,774.53 from CNY 5,683,574.10, representing a growth of 107.1%[44] - The company’s total receivables, including accounts receivable, amounted to CNY 103,975,044.44[77] Research and Development - The company's R&D expenses for Q3 2019 were CNY 9,657,297.04, a decrease from CNY 12,661,603.33 in the previous year, reflecting a reduction of 23.7%[49] - Research and development expenses for Q3 2019 were CNY 2,597,544.89, down from CNY 3,346,779.52 in the previous year[53] - Research and development expenses for the quarter were CNY 6,806,776.77, slightly up from CNY 6,735,403.02 year-over-year[61] Comprehensive Income - Other comprehensive income decreased by 1096.98% compared to the beginning of the year, primarily due to changes in the fair value of other equity instrument investments[25] - Other comprehensive income for Q3 2019 was negative CNY 137,014,416.81, compared to a positive CNY 8,306,677.89 in Q3 2018[50] - The total comprehensive income for the period was CNY -113,343,726.18, contrasting with CNY 12,145,670.11 in the prior period[53] - The total comprehensive income attributable to the parent company was CNY -95,236,340.78, compared to CNY 24,536,963.89 in the previous year, indicating a decline[61] Other Financial Metrics - The weighted average return on equity was 2.09%, an increase of 1.82% compared to the previous year[9] - Investment income decreased by 42.6% compared to the same period last year, mainly due to a decrease in income from wealth management product investments[30] - The company experienced a financial cost of CNY -4,146,491.44 in Q3 2019, an improvement from CNY -5,407,663.23 in the same period last year[53]

Financial Performance - Total revenue for the first half of 2019 reached ¥435,954,988.07, representing a 25.35% increase compared to ¥347,797,835.52 in the same period last year[21]. - Net profit attributable to shareholders was ¥18,744,099.81, a significant increase of 60.60% from ¥11,671,332.47 in the previous year[21]. - The net profit after deducting non-recurring gains and losses surged by 175.41% to ¥13,361,214.91, compared to ¥4,851,302.57 in the prior year[21]. - Basic earnings per share increased by 66.67% to ¥0.05, up from ¥0.03 in the previous year[21]. - The company achieved operating revenue of CNY 435,954,988.07 in the first half of 2019, representing a year-on-year growth of 25.35%[47]. - Net profit attributable to shareholders reached CNY 18,744,099.81, an increase of 60.60% compared to the same period last year[47]. - Revenue from LED display products was CNY 209,170,656.36, up 39.76% year-on-year, driven by market expansion in Europe and Asia-Pacific[48]. - Revenue from LED lighting products amounted to CNY 213,795,861.15, reflecting a year-on-year growth of 26.36%[49]. - The gross profit margin for the LED industry was 23.96%, an increase of 3.76% from the previous year[60]. Cash Flow and Financial Position - The net cash flow from operating activities improved dramatically to ¥31,148,548.65, a turnaround from a negative cash flow of ¥35,160,175.60 in the same period last year, marking an increase of 188.59%[21]. - Cash and cash equivalents increased to ¥240,275,402.17, representing 16.65% of total assets, up from 14.90% in the previous year, a 1.75% increase[63]. - Accounts receivable rose to ¥238,432,089.69, accounting for 16.52% of total assets, an increase of 1.40% from 15.12% year-over-year[63]. - Inventory increased to ¥205,327,702.84, making up 14.22% of total assets, up from 12.40%, a 1.82% increase[63]. - The company reported a significant increase in accounts payable to ¥174,700,149.41, which is 12.10% of total assets, up from 9.34%, a 2.76% increase due to expanded procurement[63]. - The company reported a net cash increase of RMB 23.67 million, a decrease of 73.33% from RMB 88.75 million in the previous year[58]. - The total amount of restricted cash was ¥72,385,543.49, primarily due to litigation and guarantee deposits[64]. Strategic Focus and Market Position - The company focuses on the LED industry, particularly in the development and market promotion of Micro LED display products based on COB technology, having launched products with pixel pitches of P1.9, P1.5, P1.2, and P0.9[30]. - The LED industry is experiencing a slowdown due to overcapacity and price competition, but new applications are creating market opportunities[33]. - The company is positioned as a leading high-tech enterprise in the LED sector, with sales extending to nearly 100 countries and regions globally[35]. - The company has established a comprehensive sales network and has received multiple accolades, including being recognized as a "China Optoelectronic Industry Influential Enterprise"[40]. - The company’s Micro LED technology is entering the initial stage of mass production, with significant advantages in brightness, color, and reliability[34]. - The company has a strategic focus on domestic market expansion and forming alliances with high-quality clients in the COB business[31]. Research and Development - Research and development expenses increased by 42.17% to RMB 19.39 million, up from RMB 13.64 million in the previous year[58]. - The company holds approximately 30 patents related to COB micro-display technology, enhancing its competitive edge in the market[50]. - The company’s LED display products are widely applicable in professional, commercial, and consumer display markets, emphasizing modular customization[30]. Corporate Governance and Management - All directors attended the board meeting to review this report, ensuring comprehensive oversight[6]. - The company implemented a stock incentive plan to enhance team cohesion and align management with strategic goals[44]. - The company emphasizes risk control and maintains a healthy financial policy, ensuring a reasonable asset structure[44]. - The company has engaged in entrusted financial management during the reporting period[77]. Challenges and Risks - The company faces significant risks from international policies and exchange rate fluctuations due to a large proportion of overseas business[88]. - The LED industry is experiencing intensified competition and technological innovation, which may impact the company's profitability if it fails to enhance its R&D and customer service capabilities[89]. - As the company expands its business scale, it encounters operational management challenges, necessitating improvements in management capabilities to mitigate operational risks[90]. - The company is actively pursuing external investments to build a complete industrial ecosystem, which carries risks of goodwill impairment if the integration does not meet expectations[91]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 23,652[136]. - Li Mantie holds 19.93% of the shares, with a total of 69,649,509 shares, a decrease of 7,772,922 shares during the reporting period[136]. - Wang Lishan holds 13.55% of the shares, totaling 47,368,000 shares, with no change during the reporting period[136]. - Urumqi Jiede Equity Investment Partnership holds 11.52% of the shares, totaling 40,275,000 shares, with no change during the reporting period[136]. Legal and Compliance - The company has not engaged in derivative investments or entrusted loans during the reporting period[82][83]. - The company has not reported any expected losses or significant changes in net profit for the upcoming reporting period[87]. - The company reported no violations regarding external guarantees during the reporting period[123].

Financial Performance - Total revenue for Q1 2019 was CNY 216,789,005.46, an increase of 42.45% compared to CNY 152,184,650.17 in the same period last year[9] - Net profit attributable to shareholders was CNY 12,124,072.59, a significant increase of 1,638.46% from CNY 697,404.55 year-on-year[9] - Net profit excluding non-recurring items reached CNY 7,485,227.45, up 283.16% from a loss of CNY 4,086,604.52 in the previous year[9] - Basic earnings per share increased to CNY 0.0350, reflecting a growth of 1,650.00% compared to CNY 0.0020 in the same quarter last year[9] - The weighted average return on equity was 1.17%, up from 0.06% in the previous year[9] - The company reported a gross profit margin of approximately 23.5% for Q1 2019, compared to 19.5% in Q1 2018[66] - The total operating costs for Q1 2019 were ¥206,256,165.58, an increase of 31.0% from ¥157,362,446.40 in the previous year[66] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,356,553,120.16, a slight decrease of 0.62% from CNY 1,364,991,543.07 at the end of the previous year[9] - The total liabilities decreased to 289.17 million yuan from 308.52 million yuan, showing a decline of approximately 6.3%[59] - The company's total assets as of March 31, 2019, were ¥1,108,989,474.05, slightly down from ¥1,113,752,175.73 at the end of 2018[65] - The total liabilities decreased to ¥130,259,782.24 from ¥136,311,385.17 in the previous quarter[64] Cash Flow - The net cash flow from operating activities improved to -CNY 20,780,596.49, a 35.09% improvement from -CNY 32,012,832.83 in the same period last year[9] - Cash flow from operating activities increased by 35.09%, primarily due to higher customer payments during the reporting period[34] - The cash flow from operating activities showed a net outflow of ¥20,780,596.49, an improvement from a net outflow of ¥32,012,832.83 in the previous period[76] - The total cash inflow from investment activities was ¥221,748,907.51, while cash outflow was ¥213,906,673.29, resulting in a net cash inflow of ¥7,842,234.22[77] Research and Development - R&D expenses increased by 66.55% to CNY 8.73 million, reflecting the company's commitment to enhancing its technological capabilities[26] - Research and development expenses increased to ¥8,731,931.13, up from ¥5,242,727.61, indicating a growth of 66.5% year-over-year[66] - The company is focusing on the development of next-generation COB display technology in collaboration with research institutions, aiming to lead in the Mini LED and Micro LED display markets[37] Market Expansion and Strategy - The company is actively expanding its market presence both domestically and internationally, participating in industry exhibitions to enhance brand visibility[38] - The company has established a sales network in nearly 100 countries and regions, enhancing its brand reputation and market presence in the LED sector[41] - The company has implemented a strategic focus on the development of high-cost performance new intelligent display terminal solutions for screens larger than 100 inches[39] Shareholder Information - The total number of shareholders at the end of the reporting period was 25,235, indicating a stable shareholder base[13] - The company raised a total of 462.22 million yuan from its initial public offering[49] Project Development and Investment - The company allocated 151.53 million yuan for the construction of a production R&D base and high-end LED product industrialization project[50] - The company has postponed the completion date of its projects to October 31, 2013, due to delays in power supply and construction approvals[49] - The company has established a wholly-owned subsidiary, Shenzhen Lehman Energy Development Co., Ltd., with an investment of 30 million yuan[50] Financial Management - The company emphasizes risk control and maintains a healthy financial policy, ensuring a reasonable asset structure[44] - The management team consists of multi-disciplinary talents with rich experience in modern enterprise management, enhancing team cohesion and confidence in future development[44]

Financial Performance - Total revenue for Q1 2019 reached ¥216,789,005.46, an increase of 42.45% compared to ¥152,184,650.17 in the same period last year[9]. - Net profit attributable to shareholders was ¥12,124,072.59, a significant increase of 1,638.46% from ¥697,404.55 in the previous year[9]. - The net profit after deducting non-recurring gains and losses was ¥7,485,227.45, up 283.16% from a loss of ¥4,086,604.52 in the same period last year[9]. - Basic earnings per share rose to ¥0.0350, reflecting a 1,650.00% increase from ¥0.0020 in the previous year[9]. - The weighted average return on equity improved to 1.17%, up from 0.06% in the same period last year[9]. - The company's operating revenue for the first quarter reached CNY 216.79 million, a year-on-year increase of 42.45% driven by a significant increase in order shipments[37]. - The net profit attributable to ordinary shareholders for the first quarter was CNY 12.12 million, up 1,638.46% compared to CNY 0.70 million in the same period last year[37]. - The company reported a total comprehensive income attributable to the parent company of ¥12,124,072.59, an increase from ¥697,404.55 in the previous period[72]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,356,553,120.16, a slight decrease of 0.62% from ¥1,364,991,543.07 at the end of the previous year[9]. - Net assets attributable to shareholders increased to ¥1,041,320,665.06, a growth of 0.83% from ¥1,032,732,414.32 at the end of the previous year[9]. - The total liabilities decreased to ¥130,259,782.24 from ¥136,311,385.17, indicating a reduction of approximately 4.4%[67]. - The total non-current assets decreased to CNY 455,243,665.88 from CNY 659,691,841.60, a decline of approximately 30.9%[61]. Cash Flow - The net cash flow from operating activities improved to -¥20,780,596.49, a 35.09% improvement from -¥32,012,832.83 in the previous year[9]. - The net cash flow from operating activities increased by 35.09% year-on-year, attributed to higher customer payments during the reporting period[34]. - Cash flow from operating activities showed a net outflow of ¥20,780,596.49, an improvement from a net outflow of ¥32,012,832.83 in the previous year[79]. - The total cash inflow from investment activities was ¥221,748,907.51, while cash outflow was ¥213,906,673.29, resulting in a net cash inflow of ¥7,842,234.22[80]. - The net cash flow from investing activities was -5,554,517.74, a significant decline from 91,377,782.62 in the previous period[84]. Research and Development - Research and development expenses increased by 66.55% to CNY 8.73 million, reflecting the company's commitment to enhancing R&D efforts[26]. - Research and development expenses increased to ¥8,731,931.13, up from ¥5,242,727.61, reflecting a growth of 66.5% year-over-year[69]. - The company has committed to increasing R&D investment and fostering innovation, which is crucial for maintaining its competitive edge in the LED market[45]. Market Presence and Strategy - The company is actively expanding its market presence both domestically and internationally, enhancing its sales team and marketing efforts to capture market opportunities[39]. - The company focuses on high-tech LED industry, particularly on COB small-pitch LED display panels, aiming to enhance its core competitiveness and market share in this segment[40]. - The company has established a sales network in nearly 100 countries and regions, enhancing its brand reputation and market presence in the LED sector[43]. Shareholder Information - The company reported a total of 25,235 common shareholders at the end of the reporting period[13]. - The top shareholder, Li Mantie, holds 19.96% of the shares, with 69,762,509 shares, of which 58,066,823 are pledged[13]. Investment and Funding - The total amount of raised funds is approximately 60,535.59 million CNY, with cumulative investment reaching 60,416.52 million CNY, indicating a 100% investment progress in committed projects[50]. - The company raised a total of 462.22 million yuan from its initial public offering[51]. - The company plans to use 48 million yuan to repay bank loans and 27 million yuan for permanent working capital[52]. Operational Efficiency - The management team consists of multidisciplinary talents with rich experience, enhancing the company's operational efficiency and strategic execution[46]. - The company has optimized production and testing processes to enhance project quality while reducing equipment procurement costs[58]. - The company has effectively expanded production capacity through the purchase of CNY 52,160,000 in packaging production equipment and CNY 11,260,000 in display and lighting production equipment[58]. Compliance and Governance - The company reported no violations regarding external guarantees or non-operating fund occupation by controlling shareholders during the reporting period[54][55]. - The company did not undergo an audit for the first quarter report[87]. - The company adopted new accounting standards effective January 1, 2019, without restating prior period comparatives[85].