青岛东软载波科技股份有限公司 2020 年第一季度报告全文 青岛东软载波科技股份有限公司 2020 年第一季度报告 2020-034 2020 年 04 月 1 青岛东软载波科技股份有限公司 2020 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人崔健、主管会计工作负责人孙雪飞及会计机构负责人(会计主管 人员)孙雪飞声明：保证季度报告中财务报表的真实、准确、完整。 2 青岛东软载波科技股份有限公司 2020 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | |----------------------------------------------------|------------------|------------------|---------------------------| | ...

[Important Notice, Table of Contents and Definitions](index=2&type=section&id=Section%201.%20Important%20Notice%2C%20Table%20of%20Contents%20and%20Definitions) This section confirms the accuracy and completeness of the annual report by the board, supervisory board, and senior management, and outlines the 2019 profit distribution plan - The company's board of directors, supervisory board, and all senior executives guarantee the truthfulness, accuracy, and completeness of the annual report, with no false records, misleading statements, or major omissions[4](index=4&type=chunk) - The company's 2019 profit distribution plan proposes a cash dividend of **2.00 dollars (tax inclusive) per 10 shares** based on 468,601,617 shares, with no bonus shares or capital reserve conversions[5](index=5&type=chunk) [Company Profile and Key Financial Indicators](index=9&type=section&id=Section%202.%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section provides an overview of the company's basic information and presents its key financial performance metrics for 2019 [Company Basic Information](index=9&type=section&id=I.%20Company%20Information) This chapter provides the company's basic registration details, contact information, and channels for information disclosure Company Basic Information | Item | Content | | :--- | :--- | | **Stock Abbreviation** | Eastsoft Carrier | | **Stock Code** | 300183 | | **Company Name** | Qingdao Eastsoft Carrier Technology Co., Ltd. | | **Legal Representative** | Cui Jian | | **Registered Address** | No. 16 Jia, Shangqing Road, Shibei District, Qingdao | | **Company Website** | http://www.eastsoft.com.cn/ | [Key Accounting Data and Financial Indicators](index=10&type=section&id=V.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) In 2019, the company's operating revenue was **828.13 million dollars**, a **18.27% year-on-year decrease**, while net profit attributable to shareholders increased by **10.76% to 197.76 million dollars**, and net cash flow from operating activities significantly grew by **72.39% to 356.47 million dollars** 2019 Key Financial Data | Indicator | 2019 | 2018 | YoY Change | | :--- | :--- | :--- | :--- | | **Operating Revenue (dollars)** | 828,133,524.08 | 1,013,301,356.67 | -18.27% | | **Net Profit Attributable to Shareholders (dollars)** | 197,763,941.28 | 178,552,028.75 | 10.76% | | **Net Profit Attributable to Shareholders (Excluding Non-recurring Items) (dollars)** | 150,192,786.58 | 159,792,529.44 | -6.01% | | **Net Cash Flow from Operating Activities (dollars)** | 356,471,814.56 | 206,783,846.95 | 72.39% | | **Basic Earnings Per Share (dollars/share)** | 0.4213 | 0.3814 | 10.46% | | **Weighted Average Return on Net Assets** | 6.90% | 6.55% | 0.35% | | **Total Assets (dollars)** | 3,232,315,993.79 | 3,205,321,638.61 | 0.84% | | **Net Assets Attributable to Shareholders (dollars)** | 2,928,803,184.82 | 2,822,300,386.11 | 3.77% | 2019 Non-recurring Gains and Losses | Item | 2019 Amount (dollars) | 2018 Amount (dollars) | | :--- | :--- | :--- | | Non-current asset disposal gains and losses | 21,291,185.42 | -354,649.53 | | Government grants recognized in current profit/loss | 21,576,066.79 | 7,525,795.02 | | Gains/losses from entrusted investments or asset management | 10,791,732.34 | 14,435,419.85 | | **Total** | **47,571,154.70** | **18,759,499.31** | [Business Overview](index=12&type=section&id=Section%203.%20Business%20Overview) The company's business strategy is centered on integrated circuit chip design, focusing on the energy internet and intelligentization sectors to build a comprehensive industry chain [Main Business](index=12&type=section&id=I.%20Main%20Business%20Activities%20During%20the%20Reporting%20Period) The company, based on integrated circuit chip design, focuses on the energy internet and intelligentization, establishing a complete "chip, software, module, terminal, system, information service" industry chain with three mutually supportive business segments - The company's development strategy is based on integrated circuit chip design, focusing on the energy internet and intelligentization as two emerging fields, to build a complete industry chain[32](index=32&type=chunk) - The company has formed three major business segments: integrated circuits, energy internet, and intelligentization, establishing a complete, independent, and controllable R&D, production, and sales system from chips to information services, creating a technology-product-service competitive barrier[33](index=33&type=chunk)[34](index=34&type=chunk) [Analysis of Core Competencies](index=14&type=section&id=III.%20Analysis%20of%20Core%20Competencies) The company's core competencies stem from the synergistic advantages of its three business segments, continuous R&D investment, commitment to independent core technologies, and sound financial policies with a positive corporate culture - The company has established a complete industrial layout from "chips, software, modules, systems to information services," with three business segments mutually supporting each other to form a closed loop, building an overall competitive advantage[40](index=40&type=chunk)[41](index=41&type=chunk) - The company continuously invests in R&D, focusing on core chips in the energy internet and intelligentization fields, including new-generation broadband high-speed power line carrier communication chips, narrowband high-speed chips compliant with international G3 standards, high-speed wireless communication chips, and high-performance edge computing chips[42](index=42&type=chunk) - The company adheres to independent and controllable core technologies, with all aspects from chips and software to systems developed in-house, ensuring technological leadership, product quality, and customer service satisfaction[45](index=45&type=chunk) [Management Discussion and Analysis](index=16&type=section&id=Section%204.%20Management%20Discussion%20and%20Analysis) This section provides a detailed discussion and analysis of the company's operational performance, financial position, and future development outlook for the reporting period [Operating Overview](index=16&type=section&id=I.%20Overview) In 2019, the company achieved operating revenue of **828.13 million dollars**, a **18.27% year-on-year decrease**, and net profit of **197.76 million dollars**, a **10.76% increase**, with business segments covering integrated circuits, energy internet, and intelligentization 2019 Operating Performance | Indicator | Amount (dollars) | YoY Growth | | :--- | :--- | :--- | | **Operating Revenue** | 828,133,524.08 | -18.27% | | **Net Profit Attributable to Common Shareholders** | 197,763,941.28 | 10.76% | | **Total Assets** | 3,232,315,993.79 | 0.84% | | **Basic Earnings Per Share** | 0.4213 | 10.46% | [Integrated Circuit Segment](index=16&type=section&id=1.%20Integrated%20Circuit%20Segment) This segment, operated by wholly-owned subsidiary Shanghai Microelectronics, adopts a Fabless model, focusing on chip design and sales, with 8-bit MCU products entering major home appliance manufacturers' supply chains in 2019 - Shanghai Microelectronics possesses product lines including power line carrier communication chips from narrowband to broadband, wireless communication chips, and MCU control chips, covering core technologies such as control, connection, security, and sensing[50](index=50&type=chunk) - The operating model is Fabless, focusing on chip design and sales, with both direct sales and channel distribution models for external sales[54](index=54&type=chunk) [Energy Internet Segment](index=18&type=section&id=2.%20Energy%20Internet%20Segment) This segment focuses on smart power distribution, smart power consumption, and integrated energy services, deploying across the "cloud, network, edge, terminal, chip" of the energy internet, despite market competition and tender model changes - The company is one of the main suppliers for State Grid and China Southern Power Grid's electricity consumption information collection systems, providing comprehensive solutions from meters to master stations[57](index=57&type=chunk) - The company's developed RF5361 module passed Wi-SUN Alliance certification, promoting the company's interoperable wireless solutions in IoT applications like smart cities and smart grids[59](index=59&type=chunk) - In 2019, the company completed the construction of typical smart business hall solutions for State Grid, mass application of smart home interactive terminal products, and pilot projects for deepening smart power distribution area applications[60](index=60&type=chunk)[61](index=61&type=chunk) [Intelligentization Segment](index=20&type=section&id=3.%20Intelligentization%20Segment) Operated by subsidiary Intelligent Electronics, this segment targets whole-house intelligence, smart buildings, and smart park markets, leveraging power line carrier and wireless fusion communication technologies to offer differentiated energy-saving, green, and comfortable solutions - The intelligentization business targets the open market for energy-saving, green, comfortable, and smart energy use, forming three categories of products and systems: whole-house intelligence, smart buildings, and smart parks[66](index=66&type=chunk) - In 2019, the company completed the upgrade and implementation of three major solutions: smart residential energy use, smart buildings, and smart parks, with the smart building solution capable of saving **20%** in electricity consumption[69](index=69&type=chunk) [Analysis of Main Business](index=21&type=section&id=II.%20Analysis%20of%20Main%20Business) In 2019, the company's main business revenue was **828.13 million dollars**, a **18.27% decrease**, primarily due to a **24.58% decline** in low-voltage power line carrier communication products to **573.07 million dollars**, while integrated circuit revenue remained stable at **211.90 million dollars** 2019 Operating Revenue Composition (by Product) | Product | Operating Revenue (dollars) | % of Total Revenue | YoY Change | | :--- | :--- | :--- | :--- | | **Low-voltage Power Line Carrier Communication Products** | 573,069,228.51 | 69.20% | -24.58% | | **Integrated Circuits** | 211,903,009.47 | 25.59% | 0.62% | | **System Integration and IT Consulting Services** | 39,364,113.86 | 4.75% | 13.31% | | **Application Software** | 3,068,016.23 | 0.37% | -61.32% | 2019 Operating Revenue Composition (by Region) | Region | Operating Revenue (dollars) | % of Total Revenue | YoY Change | | :--- | :--- | :--- | :--- | | **East China** | 443,418,368.95 | 53.54% | -18.20% | | **South China** | 134,406,226.95 | 16.23% | 12.14% | | **Central China** | 78,878,113.68 | 9.52% | -0.31% | | **Overseas** | 20,045,546.29 | 2.42% | 104.88% | 2019 Key Expense Items | Expense Item | 2019 Amount (dollars) | 2018 Amount (dollars) | YoY Change | Main Reason for Change | | :--- | :--- | :--- | :--- | :--- | | **Selling Expenses** | 79,045,137.54 | 104,755,148.05 | -24.54% | Primarily due to reduced reversal of unrealized restricted stock incentive plan expenses and travel expenses | | **Administrative Expenses** | 75,881,821.94 | 97,743,255.65 | -22.37% | Primarily due to reduced reversal of unrealized restricted stock incentive plan expenses and compensation | | **R&D Expenses** | 159,194,263.35 | 190,517,860.16 | -16.44% | Primarily due to reduced reversal of unrealized restricted stock incentive plan expenses and compensation due to personnel changes | | **Financial Expenses** | -41,626,801.33 | -38,636,521.16 | 7.74% | Non-significant change, mainly due to changes in interest income | [Analysis of Assets and Liabilities](index=32&type=section&id=IV.%20Analysis%20of%20Assets%20and%20Liabilities) As of the end of 2019, the company's total assets were **3.23 billion dollars**, total liabilities were **304 million dollars**, and the asset-liability ratio was **9.39%**, indicating a stable financial position, with cash and equivalents significantly increasing to **1.83 billion dollars** Significant Changes in Asset Composition | Asset Item | 2019 Year-end Amount (dollars) | % of Total Assets | 2018 Year-end Amount (dollars) | % of Total Assets | Explanation of Change | | :--- | :--- | :--- | :--- | :--- | :--- | | **Cash and Equivalents** | 1,833,078,296.56 | 56.71% | 1,385,149,701.59 | 43.21% | Due to increased collection of accounts receivable, equity transfer payments, and wealth management products | | **Accounts Receivable** | 341,950,195.95 | 10.58% | 478,231,220.45 | 14.92% | Due to collection of accounts receivable during the period | | **Fixed Assets** | 383,597,596.56 | 11.87% | 236,406,950.00 | 7.38% | Due to partial construction in progress of the information industrial park project being transferred to fixed assets | | **Construction in Progress** | 7,349,078.89 | 0.23% | 141,673,541.57 | 4.42% | Due to partial construction in progress of the information industrial park project being transferred to fixed assets | [Outlook on Company's Future Development](index=42&type=section&id=IX.%20Outlook%20on%20Company%27s%20Future%20Development) The company will continue to focus on the energy internet and intelligentization, leveraging its full industry chain advantage from chips to information services, while addressing risks such as management, raw material price increases, market competition, and technology updates - The company's overall strategy is to strengthen the synergistic advantages of its three business segments around the energy internet and intelligentization, and increase R&D investment in core chips and basic software iteration[159](index=159&type=chunk) - The integrated circuit segment will internally support and externally innovate, focusing R&D on core IoT chips, including those for white goods, motor control, and battery management, with plans to integrate resources to become a leading domestic IoT chip enterprise[161](index=161&type=chunk)[162](index=162&type=chunk) - The energy internet segment will continue to upgrade new-generation smart information collection products, strengthen the application of products like power distribution automation terminals and energy routers, and promote integrated energy service solutions[163](index=163&type=chunk) - The intelligentization segment will internally support integrated energy services, externally introduce partners, expand whole-house intelligence, smart building, and smart park applications, and firmly implement the "going global" strategy for overseas promotion[164](index=164&type=chunk) - The company faces key risks including management and human resource risks, raw material price increase risks, sales price decline risks, technology risks, dependence on the power industry, accounts receivable risks, and goodwill impairment risks[178](index=178&type=chunk)[179](index=179&type=chunk)[180](index=180&type=chunk)[181](index=181&type=chunk)[183](index=183&type=chunk)[184](index=184&type=chunk)[187](index=187&type=chunk) [Significant Events](index=52&type=section&id=Section%205.%20Significant%20Events) This section details the company's profit distribution, equity incentive plan implementation, and significant related party transactions during the reporting period [Profit Distribution and Capital Reserve Conversion to Share Capital](index=52&type=section&id=I.%20Profit%20Distribution%20of%20Common%20Shares%20and%20Capital%20Reserve%20Conversion%20to%20Share%20Capital) During the reporting period, the company implemented its 2018 profit distribution plan, distributing **2.00 dollars cash per 10 shares**, and proposed a similar plan for 2019, maintaining stable cash dividends consistent with company articles Common Share Dividend Distribution Plans (Proposed) for the Last Three Years | Year | Cash Dividend per 10 Shares (dollars, tax inclusive) | Bonus Shares per 10 Shares (shares) | Capital Reserve Conversion per 10 Shares (shares) | | :--- | :--- | :--- | :--- | | **2019** | 2.00 | 0 | 0 | | **2018** | 2.00 | 0 | 0 | | **2017** | 3.50 | 0 | 0 | Cash Dividend Distribution for the Last Three Years | Dividend Year | Cash Dividend Amount (dollars, tax inclusive) | Ratio to Net Profit Attributable to Parent Company in Consolidated Statements | | :--- | :--- | :--- | | **2019** | 93,720,323.40 | 47.39% | | **2018** | 93,886,251.40 | 52.58% | | **2017** | 164,608,449.95 | 69.15% | [Implementation of Equity Incentive Plans](index=57&type=section&id=XIV.%20Implementation%20of%20Equity%20Incentive%20Plans%2C%20Employee%20Stock%20Ownership%20Plans%2C%20or%20Other%20Employee%20Incentive%20Measures) The company's 2017 restricted stock incentive plan saw the first and second unlocking periods' conditions met, while the third period failed to meet performance targets, leading to buybacks and cancellations of shares from ineligible participants - The 2017 restricted stock incentive plan granted shares at **10.77 dollars/share**, with a maximum validity of 48 months, and three unlocking periods at **30%**, **30%**, and **40%** respectively[218](index=218&type=chunk)[219](index=219&type=chunk)[223](index=223&type=chunk) - During the reporting period, due to the departure of some incentive recipients, the company repeatedly repurchased and canceled a total of **1,062,540 restricted shares**[237](index=237&type=chunk)[238](index=238&type=chunk) - The unlocking conditions for the first unlocking period (**4,849,920 shares**) and the second unlocking period (**4,494,360 shares**) were met, but the third unlocking period failed to unlock as the 2019 operating revenue growth rate did not reach the **25%** performance target[239](index=239&type=chunk)[240](index=240&type=chunk) [Significant Related Party Transactions](index=63&type=section&id=XV.%20Significant%20Related%20Party%20Transactions) During the reporting period, the company engaged in routine related party transactions with Shandong Electric Power Intelligent Technology Co., Ltd., selling power line carrier communication products totaling **81.70 million dollars**, and exited its associate company Chuangdate (Suzhou) Technology Co., Ltd. through capital reduction Related Party Transactions Related to Routine Operations | Related Party | Related Transaction Content | Transaction Amount (ten thousand dollars) | % of Similar Transaction Amount | Approved Transaction Limit (ten thousand dollars) | | :--- | :--- | :--- | :--- | :--- | | Shandong Electric Power Intelligent Technology Co., Ltd. | Sales of power line carrier communication products | 8,169.83 | 9.87% | 10,000 | - The company exited its associate company Chuangdate (Suzhou) Technology Co., Ltd. through capital reduction, with the matter completed within the reporting period[248](index=248&type=chunk) [Changes in Shares and Shareholder Information](index=72&type=section&id=Section%206.%20Changes%20in%20Shares%20and%20Shareholder%20Information) This section details changes in the company's share capital due to restricted stock buybacks and cancellations, as well as information on its shareholders and actual controllers [Changes in Shares](index=72&type=section&id=I.%20Changes%20in%20Shares) During the reporting period, the company's total share capital decreased by **1,062,540 shares** to **468,707,317 shares** due to the buyback and cancellation of restricted shares from departing incentive recipients, while some restricted shares held by executives and incentive recipients were unlocked - During the reporting period, the company's total share capital decreased by **1,062,540 shares** due to the buyback and cancellation of restricted shares, with the total share capital at period-end being **468,707,317 shares**[275](index=275&type=chunk) - The main reasons for the share changes were the buyback and cancellation of **338,600 restricted shares** from 26 departing incentive recipients, and the buyback and cancellation of **723,940 restricted shares** from 72 departing incentive recipients[276](index=276&type=chunk)[277](index=277&type=chunk) [Shareholders and Actual Controllers](index=75&type=section&id=III.%20Shareholders%20and%20Actual%20Controllers) As of the end of the reporting period, the company had **33,209 shareholders**, with Cui Jian, Wang Rui, and Hu Yajun as the actual controllers, holding a combined **50.68%** stake, and no change in actual control during the period Top Ten Shareholders' Shareholding | Shareholder Name | Shareholding Ratio | Number of Shares Held (shares) | Number of Restricted Shares Held (shares) | | :--- | :--- | :--- | :--- | | **Cui Jian** | 22.30% | 104,544,000 | 78,408,000 | | **Wang Rui** | 14.19% | 66,528,000 | 49,896,000 | | **Hu Yajun** | 14.19% | 66,528,000 | 49,896,000 | | **Chen Yiqing** | 3.29% | 15,408,200 | 11,556,150 | | **China Securities Finance Corporation Limited** | 1.62% | 7,594,102 | 0 | | **Central Huijin Asset Management Co., Ltd.** | 1.39% | 6,514,700 | 0 | - The company's actual controllers are three natural persons: Cui Jian, Hu Yajun, and Wang Rui, who signed a "Concerted Action Agreement" in 2009 and remained concerted parties during the reporting period[215](index=215&type=chunk)[290](index=290&type=chunk) [Directors, Supervisors, Senior Management, and Employees](index=81&type=section&id=Section%209.%20Directors%2C%20Supervisors%2C%20Senior%20Management%2C%20and%20Employees) This section provides information on the shareholding changes of the company's directors, supervisors, and senior management, as well as a detailed breakdown of its employee structure by profession and education level [Shareholding Changes of Directors, Supervisors, and Senior Management](index=81&type=section&id=I.%20Shareholding%20Changes%20of%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) During the reporting period, there were no increases or decreases in the shareholdings of the company's directors, supervisors, and senior management - During the reporting period, there were no changes in the shareholdings of the company's current directors, supervisors, and senior management compared to the beginning of the period[304](index=304&type=chunk)[306](index=306&type=chunk) [Company Employee Information](index=86&type=section&id=V.%20Company%20Employee%20Information) As of the end of the reporting period, the company had **988 employees**, with technical personnel comprising **67.41%** and over **72%** holding bachelor's degrees or higher, reflecting the company's emphasis on technology R&D Employee Professional Composition | Professional Category | Number of People | Percentage | | :--- | :--- | :--- | | **Technical Personnel** | 666 | 67.41% | | **Sales Personnel** | 136 | 13.77% | | **Administrative Personnel** | 115 | 11.64% | | **Production Personnel** | 57 | 5.77% | | **Financial Personnel** | 14 | 1.42% | | **Total** | **988** | **100.00%** | Employee Education Level | Education Level Category | Number of People | Percentage | | :--- | :--- | :--- | | **Master's Degree and Above** | 165 | 16.70% | | **Bachelor's Degree** | 553 | 55.97% | | **Associate Degree** | 206 | 20.85% | | **High School and Below** | 64 | 6.48% | | **Total** | **988** | **100.00%** | [Corporate Governance](index=88&type=section&id=Section%2010.%20Corporate%20Governance) This section outlines the company's corporate governance structure, including its compliance with relevant regulations and the effectiveness of its internal control system [Basic Status of Corporate Governance](index=88&type=section&id=I.%20Basic%20Status%20of%20Corporate%20Governance) The company has established a sound governance structure with a shareholder general meeting, board of directors, supervisory board, and management, operating in compliance with relevant laws and regulations during the reporting period - The company's corporate governance structure is sound, with the shareholder general meeting, board of directors, supervisory board, and senior management all fulfilling their duties in accordance with the law, and the actual corporate governance status complies with normative documents such as the "Guidelines for Corporate Governance of Listed Companies"[332](index=332&type=chunk)[335](index=335&type=chunk) - The company is independent of its controlling shareholder in terms of business, personnel, assets, organization, and finance, possessing independent and complete business operations and autonomous operating capabilities[336](index=336&type=chunk) [Internal Control Evaluation Report](index=91&type=section&id=IX.%20Internal%20Control%20Evaluation%20Report) Based on the board's self-evaluation and the accounting firm's assurance report, the company maintained effective internal controls related to financial statements in all material aspects as of December 31, 2019, with no significant deficiencies found - During the reporting period, the company found no significant or material deficiencies in its internal control[347](index=347&type=chunk)[353](index=353&type=chunk) - The accounting firm issued a standard unqualified assurance report on the company's internal control, consistent with the board's self-evaluation report[355](index=355&type=chunk) [Financial Report](index=95&type=section&id=Section%2012.%20Financial%20Report) This section presents the company's audited financial statements for 2019, including the audit report, detailed financial statements, significant accounting policies, and notes to the consolidated financial statements [Audit Report](index=95&type=section&id=I.%20Audit%20Report) Zhongxinghua Certified Public Accountants issued a standard unqualified audit opinion on the company's 2019 financial statements, highlighting key audit matters related to accounts receivable impairment provisions and goodwill impairment, both involving significant management estimates - The auditing firm is Zhongxinghua Certified Public Accountants (Special General Partnership), which issued a standard unqualified audit opinion[360](index=360&type=chunk)[361](index=361&type=chunk) - Key Audit Matter One: Accounts receivable impairment provision; as of the end of 2019, the carrying value of accounts receivable was **342 million dollars**, accounting for **10.58%** of total assets, with the provision for bad debts involving significant accounting estimates and judgments[363](index=363&type=chunk) - Key Audit Matter Two: Goodwill impairment; as of the end of 2019, the carrying value of goodwill was **230 million dollars**, with an impairment provision of **10.45 million dollars** recognized this period due to the acquisition of Shanghai Eastsoft Carrier Microelectronics Co., Ltd.; the goodwill impairment test process is complex and involves significant judgments[365](index=365&type=chunk) [Financial Statements](index=98&type=section&id=II.%20Financial%20Statements) This chapter includes the company's 2019 consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity Consolidated Balance Sheet Core Items (Unit: dollars) | Item | 2019-12-31 | 2018-12-31 | | :--- | :--- | :--- | | **Total Assets** | **3,232,315,993.79** | **3,205,321,638.61** | | Cash and Equivalents | 1,833,078,296.56 | 1,385,149,701.59 | | Accounts Receivable | 341,950,195.95 | 478,231,220.45 | | Inventories | 161,703,959.65 | 174,532,872.18 | | Fixed Assets | 383,597,596.56 | 236,406,950.00 | | Goodwill | 229,696,198.27 | 240,150,909.45 | | **Total Liabilities** | **303,512,808.97** | **383,021,252.50** | | **Total Owners' Equity** | **2,928,803,184.82** | **2,822,300,386.11** | Consolidated Income Statement Core Items (Unit: dollars) | Item | 2019 | 2018 | | :--- | :--- | :--- | | **Total Operating Revenue** | **828,133,524.08** | **1,013,301,356.67** | | Operating Cost | 406,470,112.69 | 504,367,467.39 | | R&D Expenses | 159,194,263.35 | 190,517,860.16 | | **Operating Profit** | **224,951,922.49** | **194,397,932.79** | | **Total Profit** | **224,890,930.98** | **194,385,174.00** | | **Net Profit** | **197,763,941.28** | **178,552,028.75** | [Significant Accounting Policies and Estimates](index=120&type=section&id=V.%20Significant%20Accounting%20Policies%20and%20Estimates) The company's financial statements are prepared on a going concern basis in accordance with accounting standards, with the adoption of new financial instrument standards in 2019 leading to reclassification of certain financial assets, such as wealth management products and bank acceptance bills - The company adopted the new financial instrument standards from January 1, 2019, adjusting the classification and measurement of financial assets and applying the expected credit loss model for impairment provisions; this change was applied retrospectively but did not restate prior comparative data[535](index=535&type=chunk)[538](index=538&type=chunk)[539](index=539&type=chunk) - For revenue recognition, revenue from software products is recognized upon dispatch and receipt by the customer; revenue from system integration projects is recognized upon completion of implementation and delivery or acceptance[522](index=522&type=chunk) [Notes to Consolidated Financial Statement Items](index=157&type=section&id=VII.%20Notes%20to%20Consolidated%20Financial%20Statement%20Items) This chapter provides detailed explanations of the composition and changes in major consolidated financial statement items, including **1.42 billion dollars** in structured deposits and time deposits within cash and equivalents, and a **10.45 million dollars** goodwill impairment provision Top Five Accounts Receivable by Debtor at Period-End | Unit Name | Period-end Balance (dollars) | % of Total | | :--- | :--- | :--- | | Shandong Electric Power Intelligent Technology Co., Ltd. | 82,734,079.86 | 22.58% | | State Grid Xinjiang Electric Power Co., Ltd. Hotan Power Supply Company | 17,944,538.28 | 4.90% | | State Grid Inner Mongolia East Electric Power Co., Ltd. Material Branch | 16,094,152.97 | 4.39% | | Zhejiang Chint Instrument & Meter Co., Ltd. | 13,005,085.40 | 3.55% | | State Grid Qinghai Electric Power Company | 12,842,664.73 | 3.50% | - An impairment provision of **10,454,711.18 dollars** was recognized this period for goodwill arising from the acquisition of Shanghai Eastsoft Carrier Microelectronics Co., Ltd.; the impairment test used the income approach, with key parameters including a 5-year forecast period, a **0%** perpetual growth rate, and a **12.65%** pre-tax discount rate[653](index=653&type=chunk)[657](index=657&type=chunk) - Total government grants received this period amounted to **56.42 million dollars**, primarily from VAT immediate refund (**34.45 million dollars**) and high-tech achievement transformation project subsidies (**11.17 million dollars**), both recognized in other income[719](index=719&type=chunk)

1 青岛东软载波科技股份有限公司 2019 年第三季度报告 2019-065 2019 年 10 月 青岛东软载波科技股份有限公司 2019 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。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人崔健、主管会计工作负责人孙雪飞及会计机构负责人(会计主管 人员)孙雪飞声明：保证季度报告中财务报表的真实、准确、完整。 1 青岛东软载波科技股份有限公司 2019 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 | --- | --- | --- | --- | --- | |-----------------------------------------------------|------------------|-------------------------|--------------------------|-------------------- ...

青岛东软载波科技股份有限公司 2019 年半年度报告 2019-044 2019 年 08 月 1 青岛东软载波科技股份有限公司 2019 年半年度报告全文 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。 公司负责人崔健、主管会计工作负责人孙雪飞及会计机构负责人(会计主管 人员)孙雪飞声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 公司在本报告"第四节经营情况讨论与分析"中"十、公司面临的风险和应对 措施"部分描述了公司经营中可能存在的风险及应对措施，敬请投资者注意并仔 细阅读。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 青岛东软载波科技股份有限公司 2019 年半年度报告全文 Eastsoft 目录 | --- | |------------------------------------------------------------------------------------------------- ...

青岛东软载波科技股份有限公司 2018 年第三季度报告 2018-050 2018 年 10 月 青岛东软载波科技股份有限公司 2018 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。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人崔健、主管会计工作负责人孙雪飞及会计机构负责人(会计主管 人员)孙雪飞声明：保证季度报告中财务报表的真实、准确、完整。 1 青岛东软载波科技股份有限公司 2018 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 | --- | --- | --- | --- | --- | |-----------------------------------------------------|-------------------------------|-------------------------|------------------|----------------- ...

青岛东软载波科技股份有限公司 2018 年第一季度报告 2018-016 2018 年 04 月 青岛东软载波科技股份有限公司 2018 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人崔健、主管会计工作负责人孙雪飞及会计机构负责人(会计主管 人员)孙雪飞声明：保证季度报告中财务报表的真实、准确、完整。 1 青岛东软载波科技股份有限公司 2018 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | |-----------------------------------------------------|------------------|------------------|---------------------------| | □ 是 √ 否 | 本报告期 | 上年同期 | 本报告期比上年 ...

青岛东软载波科技股份有限公司 2019 年第一季度报告 2019-032 2019 年 04 月 青岛东软载波科技股份有限公司 2019 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人崔健、主管会计工作负责人孙雪飞及会计机构负责人(会计主管 人员)孙雪飞声明：保证季度报告中财务报表的真实、准确、完整。 1 青岛东软载波科技股份有限公司 2019 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | |-----------------------------------------------------|------------------|------------------|---------------------------| | □ 是 √ 否 | 本报告期 | 上年同期 | 本报告期比上年 ...

青岛东软载波科技股份有限公司 2018 年半年度报告 2018-032 2018 年 08 月 1 青岛东软载波科技股份有限公司 2018 年半年度报告全文 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。 公司负责人崔健、主管会计工作负责人孙雪飞及会计机构负责人(会计主管 人员)孙雪飞声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 本报告中如有涉及未来的计划、业绩预测、发展战略等方面的内容，均不 构成本公司对任何投资者及相关人士的实质承诺，敬请投资者及相关人士对此 保持足够的风险认识，正确理解计划、预测与承诺之间的差异，防范投资风险。 公司在本报告"第四节 经营情况讨论与分析"中"十、公司面临的风险和应 对措施"部分描述了公司经营中可能存在的风险及应对措施，敬请投资者注意并 仔细阅读。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 Eastsoft 青岛东软载波科技股份有限公司 2018 年半年度报告全文 目 录 ...

青岛东软载波科技股份有限公司 2019 年第一季度报告 2019-032 2019 年 04 月 青岛东软载波科技股份有限公司 2019 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人崔健、主管会计工作负责人孙雪飞及会计机构负责人(会计主管 人员)孙雪飞声明：保证季度报告中财务报表的真实、准确、完整。 1 青岛东软载波科技股份有限公司 2019 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | |-----------------------------------------------------|------------------|------------------|---------------------------| | □ 是 √ 否 | 本报告期 | 上年同期 | 本报告期比上年 ...

Dividend Distribution - The company plans to distribute a cash dividend of 2.00 RMB per 10 shares to all shareholders, based on a total of 469,431,257 shares[4] - The company distributed a cash dividend of RMB 3.50 per 10 shares, totaling RMB 164.61 million for the 2017 fiscal year[151] - The company proposed a cash dividend of 2.00 CNY per 10 shares, totaling 93,886,251.40 CNY for the year 2018[154] - The cash dividend represents 100% of the total profit distribution amount, with a distributable profit of 1,159,144,151.20 CNY[154] - The cash dividend for 2018 accounts for 52.58% of the net profit attributable to the company's ordinary shareholders[157] - The company did not issue any bonus shares or increase capital through reserves for the 2018 fiscal year[156] - The profit distribution plan was approved by the board and requires shareholder approval for implementation[156] - The company has maintained a consistent cash dividend policy, with previous dividends of 2.5 CNY per 10 shares in 2016 and 3.50 CNY per 10 shares in 2017[155] - The decision-making process for profit distribution is compliant with legal and regulatory requirements, ensuring protection of shareholder interests[154] - The company has a complete decision-making mechanism for profit distribution, allowing all shareholders to express their opinions[154] - The cash dividend policy aligns with the company's operational needs and future development funding requirements[154] - The company has not made any adjustments to the cash dividend policy during the reporting period[154] Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the year, representing a growth of 15% compared to the previous year[13] - The company's operating revenue for 2018 was ¥1,013,301,356.67, representing a 10.93% increase compared to ¥913,444,248.44 in 2017[18] - The net profit attributable to shareholders for 2018 was ¥178,552,028.75, a decrease of 25.00% from ¥238,054,333.43 in 2017[18] - The net profit after deducting non-recurring gains and losses was ¥159,792,529.44, down 27.09% from ¥219,170,082.27 in 2017[18] - The company's total assets increased by 4.41% to ¥3,205,321,638.61 at the end of 2018, compared to ¥3,069,897,549.86 at the end of 2017[18] - The gross margin improved to 35%, up from 30% in the previous year, indicating better cost management and pricing strategies[13] - The company’s total operating costs increased, with raw materials accounting for 84.39% of total costs, up from 84.14% the previous year[61] - The company’s asset total reached ¥3,205,321,638.61, with a debt total of ¥383,021,252.50, resulting in a debt-to-asset ratio of 11.95%[46] Risk Management - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts, highlighting potential operational risks and countermeasures[4] - The company has a comprehensive risk management strategy outlined in the section discussing future development prospects[4] - The company is exposed to raw material price increase risks, which could impact product costs and gross margins[134] - The company is at risk of declining sales prices due to increased competition in the power line carrier communication industry, which may affect profitability[135] - The company has implemented measures to control accounts receivable risks, improving collection efficiency and reducing potential losses[137] - The company recognizes the risk of goodwill impairment due to potential underperformance of acquired assets, which could adversely affect financial results[138] - The company anticipates that the development speed of the intelligent market may introduce uncertainties regarding the returns on its investments in this area[138] Research and Development - The company is investing 100 million RMB in research and development for new technologies, focusing on IoT and smart grid solutions[13] - Research and development expenses amounted to ¥190,517,860.16, an increase of 18.88% year-on-year, accounting for 18.80% of total revenue[42] - The company is increasing its investment in integrated circuit research and development, focusing on industrial-grade chips with high anti-interference and reliability, aiming to create "China's chip" to replace imports[65] - The company completed the R&D of low-power Bluetooth 5.0 chips in 2018 and entered mass production, expanding its product line in smart grid and energy management[33] - The company has developed a complete product line in the field of smart grid and energy management, contributing to its industry leader status[38] - The company is focusing on the ubiquitous power Internet of Things, providing comprehensive solutions from cloud, network platforms, edge computing to terminal products and chips[68] Market Expansion - The company is expanding its market presence in Southeast Asia, targeting a 25% increase in market share within the next two years[13] - The company reported a significant increase in overseas revenue, which grew by 345.46% to ¥9,783,935.54[53] - The company aims to enhance its market position in smart homes and intelligent hotels by deepening technical cooperation with real estate companies, focusing on energy management and energy-saving technologies[133] - The company plans to focus on the development of 32-bit MCU technology and key IoT chips to strengthen its position in the smart grid and smart home sectors[140] Corporate Governance - The report confirms that all board members attended the meeting to review the annual report, ensuring accountability for the report's accuracy and completeness[3] - The financial report is guaranteed to be true, accurate, and complete by the company's responsible personnel, including the chairman and accounting supervisor[3] - The company is committed to maintaining transparency and providing accurate financial information to stakeholders, as stated in the governance section[6] - The company has fulfilled all commitments made by its actual controllers and shareholders during the reporting period[160] - There were no non-operating fund occupations by controlling shareholders or their affiliates during the reporting period[161] - The company has not faced any penalties or rectification issues during the reporting period[167] Strategic Acquisitions - A strategic acquisition of a local technology firm was completed, which is anticipated to enhance the company's technological capabilities and product offerings[13] - The company completed the acquisition of 100% equity in Shanghai Haier Integrated Circuit Co., Ltd. for CNY 26,047.15 million, funded by raised capital[112] Product Development - New product development includes the launch of a next-generation smart meter, expected to enhance market competitiveness and drive sales growth[13] - The company successfully developed the "Lingzhi Gateway" product, which received Apple HomeKit certification in 2018[41] - The company has developed a series of broadband low-speed and high-speed power line carrier communication chips, with applications in smart cities and home appliance energy information collection[66] - The company’s intelligent box transformer management platform enables real-time monitoring and control of substation operations, enhancing operational efficiency and energy savings[72] - The smart home system includes five key systems: security control, lighting control, shading control, smart temperature control, and environmental monitoring, focusing on energy management and automation[73] Legal and Compliance - The audit firm, Zhongxinghua Certified Public Accountants, has been engaged for three consecutive years, with an audit fee of 350,000 RMB[164] - There are ongoing litigation cases involving the company, with amounts in dispute totaling 1.25 million RMB[165] - The company has made changes to its accounting policies in accordance with new financial reporting standards issued by the Ministry of Finance[162] - The company has not proposed any asset acquisition plans or significant mergers during the reporting period[161]