[Important Notes, Table of Contents, and Definitions](index=2&type=section&id=%E7%AC%AC%E4%B8%80%E8%8A%82%20%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA%E3%80%81%E7%9B%AE%E5%BD%95%E5%92%8C%E9%87%8A%E4%B9%89) [Important Notes and Risk Disclosures](index=2&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) The company disclosed four main risks during the reporting period: intensified industry competition, accounts receivable collection, management challenges from investments and M&A, and core talent loss, with corresponding mitigation strategies in place - The company faces key risks including: - **Intensified Industry Competition**: The IT service industry benefits from policy dividends, leading to fierce competition. The company addresses this by developing cutting-edge technologies like big data and AI[5](index=5&type=chunk) - **Accounts Receivable Risk**: Long collection cycles in smart city projects increase accounts receivable, with **70% due within one year**. The company has assigned collection tasks to senior management and intensified collection efforts[6](index=6&type=chunk) - **Investment and M&A Management Risk**: Six companies acquired in 2014-2015 have completed performance commitments. The company addresses integration challenges by adjusting executive structures and unifying management systems[7](index=7&type=chunk) - **Talent Loss Risk**: Loss of core management and technical talent could impact development. The company plans to improve human resource management and actively recruit high-end talent[8](index=8&type=chunk)[9](index=9&type=chunk) 2017 Profit Distribution Plan | Distribution Plan | Details | | :--- | :--- | | **Base** | 1,435,273,808 shares | | **Cash Dividend** | CNY 0.57 (incl. tax) per 10 shares | | **Bonus Shares** | 0 shares | | **Capital Reserve Conversion** | 0 shares per 10 shares | [Definitions](index=6&type=section&id=%E9%87%8A%E4%B9%89) This section defines key company entity abbreviations and professional terms used in the report, such as 'Feilixin Electronics' and 'Jingtu Information' for wholly-owned subsidiaries, and 'reporting period' for 2017, providing a basis for understanding the report content [Company Profile and Key Financial Indicators](index=8&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B%E5%92%8C%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) [Company Basic Information](index=8&type=section&id=%E5%85%AC%E5%8F%B8%E4%BF%A1%E6%81%AF) This section provides the company's basic registration information, office address, contact details, and information disclosure channels, with stock abbreviation 'Feilixin', code 300287, and legal representative Yang Zhenhua [Key Accounting Data and Financial Indicators](index=9&type=section&id=%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) In 2017, the company achieved **CNY 2.22 billion** in operating revenue, up **8.98%**; net profit attributable to parent company was **CNY 404 million**, up **18.83%**. Net cash flow from operating activities significantly improved from **CNY 8.83 million** to **CNY 137 million**, a **1452.55% increase**, with total assets and net assets also growing steadily 2017 Key Financial Indicators | Indicator | 2017 | 2016 | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Operating Revenue (CNY) | 2,220,676,444.50 | 2,037,626,247.61 | 8.98% | | Net Profit Attributable to Shareholders (CNY) | 404,107,820.17 | 340,084,604.26 | 18.83% | | Net Cash Flow from Operating Activities (CNY) | 137,022,732.59 | 8,825,680.67 | 1,452.55% | | Basic EPS (CNY/share) | 0.28 | 0.25 | 12.00% | | Total Assets (CNY) | 7,264,789,862.55 | 6,742,128,624.57 | 7.75% | | Net Assets Attributable to Shareholders (CNY) | 5,807,621,158.83 | 5,472,462,020.28 | 6.12% | 2017 Quarterly Key Financial Indicators (Unit: CNY) | Indicator | Q1 | Q2 | Q3 | Q4 | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 352,313,544.96 | 516,296,467.71 | 621,573,780.68 | 730,492,651.15 | | Net Profit Attributable to Shareholders | 70,164,882.80 | 84,162,876.90 | 171,336,432.69 | 78,443,627.78 | | Net Cash Flow from Operating Activities | -21,637,352.70 | -10,973,014.45 | -6,684,367.29 | 176,317,467.03 | - The company's 2017 non-recurring gains and losses totaled **CNY 12.18 million**, primarily from government subsidies of **CNY 16.16 million**. After deducting non-recurring items, net profit attributable to shareholders was **CNY 392 million**, a **23.07% year-on-year increase**[24](index=24&type=chunk)[29](index=29&type=chunk)[30](index=30&type=chunk) [Company Business Overview](index=12&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E5%85%AC%E5%8F%B8%E4%B8%9A%E5%8A%A1%E6%A6%82%E8%A6%81) [Main Businesses](index=12&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E4%BB%8E%E4%BA%8B%E7%9A%84%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1) The company's core strategy is big data and AI, driving innovation in smart conference, smart city, and internet education. During the period, big data flourished in government and commercial sectors; smart conference grew steadily, transitioning to 'Made in China'; smart city offered end-to-end solutions; internet education matured, with network academic education platform operations reaching a record high [1. Steady Progress and Continuous Innovation: Flourishing Big Data and AI Business](index=12&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%E7%A8%B3%E4%B8%AD%E6%B1%82%E8%BF%9B%EF%BC%8C%E4%B8%8D%E6%96%AD%E5%88%9B%E6%96%B0%EF%BC%8C%E5%A4%A7%E6%95%B0%E6%8D%AE%E3%80%81%E4%BA%BA%E5%B7%A5%E6%99%BA%E8%83%BD%E4%B8%9A%E5%8A%A1%E8%93%AC%E5%8B%83%E5%8F%91%E5%B1%95) The company's big data and AI business serves government and large enterprises, offering solutions like data governance, data asset management, and video intelligent analysis. Its project-based and data analysis service model has been successfully applied in government services, urban governance, and financial marketing, driven by national big data strategy and continuous R&D investment - The company's big data business primarily serves government and enterprises, offering services such as video big data for stability maintenance, social credit, and precision marketing, with achievements in video intelligent analysis and blockchain government services[33](index=33&type=chunk)[34](index=34&type=chunk) - The company positions big data as a key supporting element to facilitate smart conference product upgrades, support smart city business expansion, and enhance internet education service capabilities[34](index=34&type=chunk) [1. Steady Development of Smart Conference Business](index=15&type=section&id=1%E3%80%81%E6%99%BA%E8%83%BD%E4%BC%9A%E8%AE%AE%E4%B8%9A%E5%8A%A1%E7%A8%B3%E5%81%A5%E5%8F%91%E5%B1%95) The company's smart conference business, relying on its proprietary PRSMBus core technology, provides integrated solutions from R&D to sales and O&M. Supported by big data and AI, products continuously innovate, transitioning to 'Made in China', with a business model primarily focused on proprietary product sales, supplemented by agency products and a rental-sale approach - The company's smart conference business operates primarily on an 'independent R&D + design + production + sales + service' model, supplemented by agency conference products[47](index=47&type=chunk) - Leveraging a comprehensive product service system, brand advantages, and cutting-edge technologies like big data and AI, the company's smart conference business holds a strong competitive edge in the domestic market and has initiated overseas expansion[54](index=54&type=chunk) [2. Smart City Business](index=17&type=section&id=2%E3%80%81%E6%99%BA%E6%85%A7%E5%9F%8E%E5%B8%82%E4%B8%9A%E5%8A%A1) As a member of the National Smart City Industry Technology Innovation Strategic Alliance, the company offers complete smart city solutions from top-level design to long-term operation, covering infrastructure, government management, and industrial economy, with extensive cases in smart pipelines, smart transportation, and Internet+government, operating primarily through government investment and public-private partnerships, expanding to government procurement of services - The company is a member of the National Smart City Industry Technology Innovation Strategic Alliance, committed to providing complete information solutions from top-level design to long-term operation, integrating industry chains and financial support schemes[55](index=55&type=chunk)[64](index=64&type=chunk) - The company's smart city business covers a wide range of areas, with extensive technical, product, and case support in urban operation command centers, smart transportation, smart water, smart pipeline networks, Internet+government, and safe cities[61](index=61&type=chunk) [3. Internet Education](index=19&type=section&id=3%E3%80%81%E4%BA%92%E8%81%94%E7%BD%91%E6%95%99%E8%82%B2) The company's internet education business includes online education services, smart education solutions, and smart classroom system integration. During the reporting period, network academic education platform operations reached a record high, and smart manufacturing co-construction developed in vocational colleges, with business models including product sales, operation services and technology development services - The company's internet education business primarily operates through three models: product sales, operation services, and technology development services. Network academic education platform operations adopt an operation service and revenue-sharing model[68](index=68&type=chunk) - The company's core products and technologies are independently developed with full intellectual property rights, positioning it as a leader in industry technology applications with strong competitive advantages in performance and price[70](index=70&type=chunk) [III. Analysis of Core Competencies](index=20&type=section&id=%E4%B8%89%E3%80%81%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) The company's core competencies are its national policy-aligned development strategy, high-end integrated talent team, rich application scenarios, and continuous technological innovation. During the reporting period, the company and its subsidiaries obtained **12 new invention patents**, **50 utility model patents**, and **51 software copyrights**, further solidifying its technological advantages and brand image - The company's core competencies include: - **Development Strategy**: Centered on big data and AI, aligning with national 'Manufacturing Power' and 'Data Power' strategies[72](index=72&type=chunk) - **Talent Team**: Possesses a high-end integrated team comprising data scientists, domain experts, and IT specialists[73](index=73&type=chunk) - **Application Scenarios**: Developed new big data and AI-driven smart conference, smart city, and internet education application scenarios[74](index=74&type=chunk) - **Technological Innovation**: Continuously increasing independent R&D, securing multiple patents and software copyrights during the reporting period[76](index=76&type=chunk) - During the reporting period, the company and its wholly-owned subsidiaries obtained **12 new invention patents**, **50 utility model patents**, **10 design patents**, and **51 computer software copyrights**, significantly enhancing technological barriers[76](index=76&type=chunk) [Management Discussion and Analysis](index=28&type=section&id=%E7%AC%AC%E5%9B%9B%E8%8A%82%20%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) [I. Overview](index=28&type=section&id=%E4%B8%80%E3%80%81%E6%A6%82%E8%BF%B0) In 2017, the company's operating performance grew steadily, with total operating revenue of **CNY 2.22 billion**, up **8.98%**, and net profit attributable to parent company of **CNY 404 million**, up **18.83%**. The company clarified traditional smart conference and new big data as its two main businesses, optimizing organizational structure and marketing system. All business segments made significant progress, winning multiple key projects in smart conference, big data, and smart city, while strengthening industry chain advantages through investments, acquisitions, and strategic collaborations 2017 Operating Performance | Indicator | Amount (CNY 10,000) | Y-o-Y Change | | :--- | :--- | :--- | | Total Operating Revenue | 222,067.64 | 8.98% | | Operating Profit | 47,103.98 | 34.12% | | Net Profit Attributable to Shareholders | 40,410.78 | 18.83% | - The company has defined traditional smart conference and new big data as its two main businesses. Big data business is divided into endogenous and exogenous development, with exogenous extending to existing segments like smart conference, smart city, and internet education[88](index=88&type=chunk) - During the reporting period, the company won numerous projects in smart conference, big data, and smart city sectors, including the Tianjin Baodi District People's Congress conference system, the second phase of the National Credit Information Sharing Platform, and the Gansu Province National Economic Mobilization Simulation and Emergency Exercise project, strongly supporting performance growth[91](index=91&type=chunk)[94](index=94&type=chunk)[96](index=96&type=chunk) - The company completed its first employee stock ownership plan, acquiring **26,534,857 shares** totaling approximately **CNY 226 million**, representing **1.8488%** of the total share capital, aiming to enhance company cohesion and market competitiveness[128](index=128&type=chunk)[129](index=129&type=chunk) [II. Analysis of Main Business](index=38&type=section&id=%E4%BA%8C%E3%80%81%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) In 2017, smart conference and online education businesses showed strong growth, with revenues up **30.98%** and **35.71%** respectively. Smart city business had the largest revenue at **CNY 1.17 billion**, though slightly down year-on-year. Big data business had the highest gross profit margin at **57.89%**, up **4.49 percentage points**. East and North China were the main revenue sources, accounting for over **80%** combined 2017 Operating Revenue Composition (by Product) | Product | Operating Revenue (CNY) | Share of Total Revenue | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Smart Conference | 607,299,129.46 | 27.35% | 30.98% | | Smart City | 1,167,157,074.32 | 52.56% | -0.87% | | Big Data | 284,177,486.20 | 12.80% | 6.75% | | Online Education | 129,184,360.97 | 5.82% | 35.71% | 2017 Gross Profit Margin by Main Product | Product | Operating Revenue (CNY) | Operating Cost (CNY) | Gross Profit Margin | Y-o-Y Change in Gross Profit Margin | | :--- | :--- | :--- | :--- | :--- | | Smart Conference | 607,299,129.46 | 370,489,800.86 | 38.99% | 0.16% | | Smart City | 1,167,157,074.32 | 736,033,969.32 | 36.94% | -0.35% | | Big Data | 284,177,486.20 | 119,661,008.40 | 57.89% | 4.49% | - Total R&D investment in 2017 was **CNY 136 million**, accounting for **6.12%** of operating revenue, largely consistent with the previous year. R&D personnel numbered **1,031**, representing **61.79%** of total employees[161](index=161&type=chunk) - Financial expenses significantly decreased by **341.37%** year-on-year, primarily due to increased interest income from raised funds deposits[152](index=152&type=chunk) [IX. Outlook on Company's Future Development](index=61&type=section&id=%E4%B9%9D%E3%80%81%E5%85%AC%E5%8F%B8%E6%9C%AA%E6%9D%A5%E5%8F%91%E5%B1%95%E7%9A%84%E5%B1%95%E6%9C%9B) The company will continue to leverage cutting-edge technologies like big data, AI, IoT, and blockchain as core drivers, steadily developing its smart conference, smart city, and internet education segments. The 2018 operating plan includes simplifying management, accelerating business synergy, strengthening internal controls, establishing industry investment funds, optimizing talent development, increasing R&D, and enhancing brand building and market value management for sustained growth - The company's future R&D focus includes reinforcement learning-based AI applications, consortium blockchain solutions, big data governance, and IoT intelligent systems[218](index=218&type=chunk) - The company plans to establish military-civil fusion and big data industry funds to leverage capital for integrating quality resources, promoting industrial internet and big data technologies in military-civil fusion, and accelerating exogenous growth[238](index=238&type=chunk) - Key points of the 2018 operating plan: - **Management Optimization**: Streamline internal group management structure to improve operational efficiency[235](index=235&type=chunk) - **Business Synergy**: Accelerate internal group business synergy to expand market leadership[236](index=236&type=chunk) - **Capital Operations**: Establish industry investment funds to integrate resources in big data and military-civil fusion sectors[238](index=238&type=chunk) - **Technological Innovation**: Increase R&D investment to develop industrial internet platforms and modern data asset management services[246](index=246&type=chunk) [Significant Matters](index=68&type=section&id=%E7%AC%AC%E4%BA%94%E8%8A%82%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) [I. Company's Ordinary Share Profit Distribution and Capital Reserve Conversion to Share Capital](index=68&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E6%99%AE%E9%80%9A%E8%82%A1%E5%88%A9%E6%B6%A6%E5%88%86%E9%85%8D%E5%8F%8A%E8%B5%84%E6%9C%AC%E5%85%AC%E7%A7%AF%E9%87%91%E8%BD%AC%E5%A2%9E%E8%82%A1%E6%9C%AC%E6%83%85%E5%86%B5) The company proposed a 2017 profit distribution plan: based on **1.435 billion shares**, a cash dividend of **CNY 0.57** (incl. tax) per **10 shares** will be distributed to all shareholders, totaling **CNY 81.81 million**, representing **20.24%** of net profit attributable to parent company, in line with company articles Cash Dividend Distribution Over Last Three Years | Dividend Year | Cash Dividend (incl. tax, CNY) | Ratio to Net Profit Attributable to Ordinary Shareholders in Consolidated Statements | | :--- | :--- | :--- | | 2017 | 81,810,607.06 | 20.24% | | 2016 | 68,893,138.43 | 20.26% | | 2015 | 40,136,237.63 | 22.22% | [II. Fulfillment of Commitments](index=71&type=section&id=%E4%BA%8C%E3%80%81%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) During the reporting period, most commitments made during acquisitions and reorganizations, such as share lock-ups, avoiding competition, and regulating related-party transactions, were fulfilled. However, the performance commitment party of former subsidiary Donglan Digital failed to meet 2016 targets and refused compensation, leading the company to initiate arbitration. Other acquired companies (Jingtu Information, Jiedong Control, Ofeiling Communication, Hulian Tianxia) fulfilled their 2015-2017 performance commitments - Former subsidiary Donglan Digital's performance commitment party failed to meet 2016 performance targets and refused to fulfill compensation obligations; the company has initiated arbitration[266](index=266&type=chunk)[308](index=308&type=chunk) - Jingtu Information, Jiedong Control, Ofeiling Communication, and Hulian Tianxia Technology all fulfilled their 2017 performance commitments[310](index=310&type=chunk) [VII. Analysis of Major Holding and Participating Companies](index=95&type=section&id=%E4%B8%83%E3%80%81%E4%B8%BB%E8%A6%81%E6%8E%A7%E8%82%A1%E5%8F%82%E8%82%A1%E5%85%AC%E5%8F%B8%E5%88%86%E6%9E%90) During the reporting period, the company's major holding subsidiaries operated well. Core subsidiaries like Beijing Feilixin Electronics, Xiamen Jingtu, Shanghai Jiedong, Chengdu Ofeiling, and Hulian Tianxia all contributed significant operating revenue and net profit, serving as crucial support for the company's performance 2017 Operating Performance of Major Subsidiaries (Unit: CNY 10,000) | Company Name | Total Assets | Net Assets | Operating Revenue | Net Profit | | :--- | :--- | :--- | :--- | :--- | | Beijing Feilixin Electronic Technology Co., Ltd. | 220,320.65 | 124,666.83 | 72,534.25 | 14,656.61 | | Xiamen Jingtu Information Technology Co., Ltd. | 44,368.03 | 32,865.54 | 31,464.65 | 6,017.52 | | Shanghai Jiedong System Engineering Control Co., Ltd. | 48,347.39 | 25,174.02 | 44,380.93 | 6,897.27 | | Chengdu Ofeiling Communication Technology Co., Ltd. | 19,808.02 | 18,307.01 | 18,121.44 | 7,920.52 | | Hulian Tianxia Technology Development (Shenzhen) Co., Ltd. | 17,741.82 | 11,737.70 | 11,943.84 | 4,451.43 | [Share Changes and Shareholder Information](index=104&type=section&id=%E7%AC%AC%E5%85%AD%E8%8A%82%20%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E5%8F%8A%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) [I. Share Changes](index=104&type=section&id=%E4%B8%80%E3%80%81%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, the company's total share capital of **1,435,273,808 shares** remained unchanged. Due to the lifting of restrictions on some restricted shares, the proportion of restricted shares decreased from **49.66%** to **28.21%**, while unrestricted shares increased from **50.34%** to **71.79%** Changes in Share Structure | Share Type | Quantity Before Change | Ratio Before Change | Quantity After Change | Ratio After Change | | :--- | :--- | :--- | :--- | :--- | | Restricted Shares | 712,824,050 | 49.66% | 404,892,078 | 28.21% | | Unrestricted Shares | 722,449,758 | 50.34% | 1,030,381,730 | 71.79% | | **Total Shares** | **1,435,273,808** | **100.00%** | **1,435,273,808** | **100.00%** | [III. Shareholders and Actual Controllers](index=114&type=section&id=%E4%B8%89%E3%80%81%E8%82%A1%E4%B8%9C%E5%92%8C%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E6%83%85%E5%86%B5) As of the end of the reporting period, the company had **59,114 shareholders**. The controlling shareholders and actual controllers are Yang Zhenhua, Cao Xinjun, Chen Hongshun, and Wang Shouyan, acting in concert, with a combined shareholding of **25.67%**. The top ten shareholders include several trusts and asset management plans in addition to the controlling shareholders - The company's controlling shareholders and actual controllers are Yang Zhenhua, Cao Xinjun, Chen Hongshun, and Wang Shouyan, four individuals acting in concert[375](index=375&type=chunk)[377](index=377&type=chunk) Top Five Shareholders' Holdings | Shareholder Name | Shareholding Ratio | Number of Shares | | :--- | :--- | :--- | | Yang Zhenhua | 13.29% | 190,812,084 | | Cao Xinjun | 5.46% | 78,321,100 | | Chen Hongshun | 4.16% | 59,653,750 | | Zhao Jingwei | 2.91% | 41,800,000 | | Founder Fubon Fund - Minsheng Bank - Ping An Trust - Ping An Wealth * Huitai No. 183 Single Capital Trust | 2.86% | 40,983,600 | [Preferred Shares Related Information](index=119&type=section&id=%E7%AC%AC%E4%B8%83%E8%8A%82%20%E4%BC%98%E5%85%88%E8%82%A1%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) [Preferred Shares](index=119&type=section&id=%E4%BC%98%E5%85%88%E8%82%A1) The company had no preferred shares during the reporting period - The company had no preferred shares during the reporting period[381](index=381&type=chunk) [Directors, Supervisors, Senior Management, and Employees](index=120&type=section&id=%E7%AC%AC%E5%85%AB%E8%8A%82%20%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E5%92%8C%E5%91%98%E5%B7%A5%E6%83%85%E5%86%B5) [I. Changes in Holdings of Directors, Supervisors, and Senior Management](index=120&type=section&id=%E4%B8%80%E3%80%81%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E5%92%8C%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E6%8C%81%E8%82%A1%E5%8F%98%E5%8A%A8) During the reporting period, there were no changes in the shareholdings of the company's directors, supervisors, and senior management. Chairman and General Manager Yang Zhenhua held **191 million shares** at period-end, accounting for **13.29%** of total share capital [V. Employee Information](index=126&type=section&id=%E4%BA%94%E3%80%81%E5%85%AC%E5%8F%B8%E5%91%98%E5%B7%A5%E6%83%85%E5%86%B5) As of the end of the reporting period, the company had **1,679 employees**. Technical personnel constituted the largest group at **1,031**, or **61.4%** of the total. Employees with bachelor's degrees or higher accounted for over **57%** Employee Professional Composition | Professional Category | Number of People | Proportion | | :--- | :--- | :--- | | Technical Personnel | 1,031 | 61.41% | | Management Personnel | 165 | 9.83% | | Sales Personnel | 158 | 9.41% | | Other | 325 | 19.35% | | **Total** | **1,679** | **100.00%** | [Corporate Governance](index=128&type=section&id=%E7%AC%AC%E4%B9%9D%E8%8A%82%20%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86) [I. Basic Status of Corporate Governance](index=128&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86%E7%9A%84%E5%9F%BA%E6%9C%AC%E7%8A%B6%E5%86%B5) The company has established a complete and effective governance structure, independent from controlling shareholders in personnel, assets, finance, organization, and business. Its corporate governance complies with relevant regulations like the 'Guidelines for Corporate Governance of Listed Companies', with no significant discrepancies. One annual and two extraordinary general meetings were held during the reporting period - The company's actual corporate governance status complies with normative documents issued by the China Securities Regulatory Commission regarding listed company governance, with no significant discrepancies[408](index=408&type=chunk)[411](index=411&type=chunk) - The company is completely separate from its controlling shareholders and actual controllers in terms of assets, personnel, finance, organization, and business, operating independently and possessing the ability to operate autonomously in the market[412](index=412&type=chunk) [Corporate Bonds Related Information](index=135&type=section&id=%E7%AC%AC%E5%8D%81%E8%8A%82%20%E5%85%AC%E5%8F%B8%E5%80%BA%E5%88%B8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) [Corporate Bonds](index=135&type=section&id=%E5%85%AC%E5%8F%B8%E5%80%BA%E5%88%B8) During the reporting period, the company had no publicly issued and listed corporate bonds on stock exchanges that were either unexpired or not fully redeemed by the approval date of the annual report - The company has no publicly issued and listed corporate bonds on stock exchanges that were either unexpired or not fully redeemed by the approval date of the annual report[428](index=428&type=chunk) [Financial Report](index=136&type=section&id=%E7%AC%AC%E5%8D%81%E4%B8%80%E8%8A%82%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E5%91%8A) [I. Audit Report](index=136&type=section&id=%E4%B8%80%E3%80%81%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) Lixin Certified Public Accountants (Special General Partnership) issued a standard unqualified audit opinion on the company's 2017 financial statements, affirming that they fairly present the company's financial position, operating results, and cash flows in all material respects, in accordance with enterprise accounting standards. Key audit matters included revenue recognition and provision for bad debts on accounts receivable - The auditing firm, Lixin Certified Public Accountants (Special General Partnership), issued a standard unqualified audit opinion[430](index=430&type=chunk)[431](index=431&type=chunk) - Key audit matters include: 1. **Revenue Recognition**: As revenue is a key performance indicator, there is an inherent risk of management manipulating the timing of revenue recognition[434](index=434&type=chunk) 2. **Provision for Bad Debts on Accounts Receivable**: The book value of accounts receivable is high (**28.49% of total assets**), and the assessment of bad debt losses involves significant management judgment[435](index=435&type=chunk) [II. Financial Statements](index=141&type=section&id=%E4%BA%8C%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) Financial statements show that as of year-end 2017, total assets were **CNY 7.265 billion**, total liabilities **CNY 1.414 billion**, and equity attributable to parent company owners **CNY 5.808 billion**. For 2017, operating revenue was **CNY 2.221 billion**, net profit **CNY 414 million**, with **CNY 404 million** attributable to parent company owners. Net cash flow from operating activities was **CNY 137 million** Consolidated Balance Sheet Key Items (Unit: CNY) | Item | Dec 31, 2017 | Dec 31, 2016 | | :--- | :--- | :--- | | Cash and Cash Equivalents | 1,163,069,597.59 | 1,178,186,924.34 | | Accounts Receivable | 2,069,545,841.06 | 1,646,707,598.98 | | Inventories | 400,005,095.45 | 371,382,902.36 | | Goodwill | 2,397,829,293.24 | 2,399,829,184.57 | | **Total Assets** | **7,264,789,862.55** | **6,742,128,624.57** | | Short-term Borrowings | 185,700,000.00 | 110,010,000.00 | | Accounts Payable | 499,647,175.66 | 566,701,218.30 | | **Total Liabilities** | **1,413,813,256.77** | **1,236,593,990.28** | | Total Equity Attributable to Parent Company Owners | 5,807,621,158.83 | 5,472,462,020.28 | | **Total Liabilities and Equity** | **7,264,789,862.55** | **6,742,128,624.57** | Consolidated Income Statement Key Items (Unit: CNY) | Item | 2017 | 2016 | | :--- | :--- | :--- | | Total Operating Revenue | 2,220,676,444.50 | 2,037,626,247.61 | | Operating Cost | 1,296,103,835.35 | 1,199,639,017.87 | | Operating Profit | 471,039,822.68 | 350,481,508.39 | | Total Profit | 469,546,712.69 | 383,200,631.39 | | Net Profit | 414,360,536.38 | 347,971,930.94 | | Net Profit Attributable to Parent Company Owners | 404,107,820.17 | 340,084,604.26 | Consolidated Cash Flow Statement Key Items (Unit: CNY) | Item | 2017 | 2016 | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 137,022,732.59 | 8,825,680.67 | | Net Cash Flow from Investing Activities | -136,837,937.28 | -1,006,925,675.27 | | Net Cash Flow from Financing Activities | -20,316,417.07 | 1,720,807,972.51 | | Net Increase in Cash and Cash Equivalents | -20,046,875.02 | 722,709,588.74 | [XII. Documents for Reference](index=255&type=section&id=%E7%AC%AC%E5%8D%81%E4%BA%8C%E8%8A%82%20%E5%A4%87%E6%9F%A5%E6%96%87%E4%BB%B6%E7%9B%AE%E5%BD%95)

北京飞利信科技股份有限公司 2017 年第三季度报告全文 北京飞利信科技股份有限公司 2017 年第三季度报告 2017-085 2017 年 10 月 1 北京飞利信科技股份有限公司 2017 年第三季度报告全文 第一节 重要提示 2 北京飞利信科技股份有限公司 2017 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 | | --- | --- | --- | --- | --- | | 总资产（元） | 7,178,171,754.66 | 6,742,128,624.57 | | 6.47% | | 归属于上市公司股东的净资产 | 5,729,233,074.24 | 5,472,462,020.28 | | 4.69% | | （元） | | | | | | | 本报告期 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比上 | | | | 增减 | | 年同期增减 | | 营业收入（元） | 621,573,780.68 | 4.28% ...

[Important Notice, Table of Contents and Definitions](index=2&type=section&id=%E7%AC%AC%E4%B8%80%E8%8A%82%20%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA%E3%80%81%E7%9B%AE%E5%BD%95%E5%92%8C%E9%87%8A%E4%B9%89) This section provides essential preliminary information, the report's table of contents, and definitions of key terms used throughout the document [Company Profile and Key Financial Indicators](index=10&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B%E5%92%8C%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) This section introduces the company's fundamental information and presents its key financial performance metrics [Company Profile](index=10&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B) Beijing Feilixin Technology Co., Ltd. (stock code: 300287) is a company listed on the Shenzhen Stock Exchange, with Yang Zhenhua as its legal representative Company Basic Information | Item | Content | | :--- | :--- | | **Stock Abbreviation** | Feilixin | | **Stock Code** | 300287 | | **Listing Exchange** | Shenzhen Stock Exchange | | **Full Chinese Name** | Beijing Feilixin Technology Co., Ltd. | | **Legal Representative** | Yang Zhenhua | [Key Accounting Data and Financial Indicators](index=11&type=section&id=%E5%9B%9B%E3%80%81%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) During the reporting period, the company achieved total operating revenue of **RMB 869 million**, a year-on-year increase of **5.14%**; net profit attributable to shareholders was **RMB 154 million**, up **9.77%**; net cash flow from operating activities was **RMB -33 million**, a significant improvement of **81.35%** from **RMB -172 million** in the prior year Key Financial Indicators | Key Financial Indicator | Current Period | Prior Year Period | Year-on-Year Change | | :--- | :--- | :--- | :--- | | **Total Operating Revenue (RMB)** | 868,610,012.67 | 826,170,399.44 | 5.14% | | **Net Profit Attributable to Shareholders (RMB)** | 154,327,759.70 | 140,594,577.06 | 9.77% | | **Net Cash Flow from Operating Activities (RMB)** | -32,610,367.15 | -171,883,075.65 | 81.35% | | **Basic Earnings Per Share (RMB/share)** | 0.11 | 0.11 | 0.00% | | **Weighted Average Return on Net Assets** | 2.78% | 3.74% | -0.96% | | **Total Assets (RMB)** | 6,989,604,132.37 | 6,742,128,624.57 | 3.67% (Period-end vs. Prior Year-end) | | **Net Assets Attributable to Shareholders (RMB)** | 5,626,789,779.98 | 5,472,462,020.28 | 2.82% (Period-end vs. Prior Year-end) | - Non-recurring gains and losses totaled **RMB 4.71 million**, primarily from **RMB 5.37 million** in government subsidies[36](index=36&type=chunk) [Company Business Overview](index=14&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E5%85%AC%E5%8F%B8%E4%B8%9A%E5%8A%A1%E6%A6%82%E8%A6%81) This section outlines the company's strategic focus and its primary business segments, including smart conferencing, big data, smart city, and internet education [Principal Businesses](index=14&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E4%BB%8E%E4%BA%8B%E7%9A%84%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1) The company has established a development strategy centered on big data, with its main businesses including big data professional application services and innovative services supported by big data, encompassing smart conferencing, big data, smart city, and internet education - The company's strategic core is big data, with business segments including: - **Smart Conferencing Business**: Providing integrated solutions from R&D, production to operation and maintenance, relying on proprietary core technology PRSMBus[40](index=40&type=chunk) - **Big Data Business**: Offering data analysis and application services for government and enterprises, including video big data, social credit, and precision marketing[43](index=43&type=chunk) - **Smart City Business**: Participating in top-level design, operation services, and core project construction[50](index=50&type=chunk) - **Internet Education Business**: Promoting an "Internet education + employment + training" model and collaborating with schools for cooperative operations[52](index=52&type=chunk) [Significant Changes in Major Assets](index=18&type=section&id=%E4%BA%8C%E3%80%81%E4%B8%BB%E8%A6%81%E8%B5%84%E4%BA%A7%E9%87%8D%E5%A4%A7%E5%8F%98%E5%8C%96%E6%83%85%E5%86%B5) During the reporting period, the company's major assets underwent significant changes, with equity investments increasing by **71.87%** due to investments in associate companies, while construction in progress decreased by **100%** due to the completion and capitalization of factory buildings Major Asset Changes | Major Asset | Explanation of Significant Change | | :--- | :--- | | **Equity Investments** | Increased by 71.87%, primarily due to investments in associate companies Beijing Zhongmei Shidai and Beijing Wangbo Shijie | | **Fixed Assets** | Increased by 11.11%, mainly due to the capitalization of construction in progress | | **Construction in Progress** | Decreased by 100%, mainly because the subsidiary Hubei Feilixin's infrastructure factory building was completed and capitalized in this period | [Core Competitiveness Analysis](index=19&type=section&id=%E4%B8%89%E3%80%81%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) The company's core competitiveness lies in its full-chain solutions, nationwide marketing network, quality product series, core data advantages, talent advantages, technological innovation capabilities, and brand and honor advantages, with new progress in data sources, talent acquisition, R&D, and qualifications - The company's core competencies include: - **Full Industry Chain Advantage**: Covering hardware R&D and production, software system integration, and downstream operation services across the entire industry chain[57](index=57&type=chunk) - **Core Data Advantage**: Achieved breakthrough progress in data service models with mobile operators, enhancing data acquisition and monetization capabilities[63](index=63&type=chunk) - **Technological Innovation Capability**: Newly obtained **4 invention patents**, **23 utility model patents**, and **11 computer software copyrights** during the reporting period[65](index=65&type=chunk) - **Brand and Qualifications**: The company and its subsidiaries have passed multiple qualification certifications and received several industry awards, such as the "2016 China Digital Audio-Visual Industry Top Ten Conference System Excellence Brand Award"[70](index=70&type=chunk)[72](index=72&type=chunk) [Discussion and Analysis of Operations](index=23&type=section&id=%E7%AC%AC%E5%9B%9B%E8%8A%82%20%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) This section provides an in-depth review of the company's operational performance, financial position, and strategic initiatives during the reporting period [Operational Overview](index=23&type=section&id=%E4%B8%80%E3%80%81%E6%A6%82%E8%BF%B0) In the first half of 2017, the company achieved steady growth in revenue and profit by executing its annual operating plan, clarifying smart conferencing and big data as core businesses, optimizing organizational structure, and strengthening marketing and R&D efforts Key Operational Indicators | Indicator | Amount (RMB) | Year-on-Year Growth | | :--- | :--- | :--- | | **Total Operating Revenue** | 868,610,012.67 | 5.14% | | **Operating Profit** | 162,144,904.28 | 23.14% | | **Net Profit Attributable to Shareholders** | 154,327,759.70 | 9.77% | - The company has defined traditional smart conferencing and emerging big data as its two main businesses, with big data business developing through both internal growth and external expansion[76](index=76&type=chunk) - The company actively engaged in investment, mergers, and strategic collaborations, including equity investments in Zhongmei Shidai and Phoenix Jinkong, a strategic cooperation agreement with China Telecom, and the acquisition of a **60% stake** in Suzhou Tianyida to expand into military-civilian integration business[94](index=94&type=chunk) - The company initiated and is implementing its first phase of employee stock ownership plan to improve incentive and restraint mechanisms[96](index=96&type=chunk) [Analysis of Principal Businesses](index=28&type=section&id=%E4%BA%8C%E3%80%81%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) During the reporting period, the smart conferencing segment showed strong growth with a **35.22%** increase in revenue and improved gross margin, while smart city revenue remained stable, big data revenue slightly increased, and online education revenue and gross margin significantly declined Operating Revenue and Gross Margin by Product or Service | By Product or Service | Operating Revenue (RMB) | Gross Margin | Year-on-Year Change in Operating Revenue | | :--- | :--- | :--- | :--- | | **Smart Conferencing** | 245,231,211.94 | 43.68% | 35.22% | | **Smart City** | 472,171,172.51 | 32.07% | -1.50% | | **Big Data** | 116,957,500.54 | 68.64% | 0.30% | | **Online Education** | 18,243,484.63 | 49.82% | -33.47% | - Financial expenses decreased by **116.81%** year-on-year, primarily due to significant loan repayments and increased interest income from time deposits during the period[104](index=104&type=chunk) [Analysis of Assets and Liabilities](index=30&type=section&id=%E5%9B%9B%E3%80%81%E8%B5%84%E4%BA%A7%E3%80%81%E8%B4%9F%E5%80%BA%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) As of the end of the reporting period, total assets were **RMB 6.99 billion**, up **3.67%** from the beginning of the period, with accounts receivable increasing significantly, while short-term borrowings decreased substantially due to loan repayments Major Assets and Liabilities | Major Asset/Liability | Period-end Amount (RMB) | Percentage of Total Assets | Change in Proportion from Prior Year-end | | :--- | :--- | :--- | :--- | | **Accounts Receivable** | 1,994,957,305.38 | 28.54% | 5.66% | | **Construction in Progress** | 0 | 0.00% | -0.38% | | **Short-term Borrowings** | 46,510,000.00 | 0.67% | -2.92% | [Analysis of Investment Status](index=31&type=section&id=%E4%BA%94%E3%80%81%E6%8A%95%E8%B5%84%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) During the reporting period, the company's investment amounted to **RMB 115 million**, a significant increase of **307.19%** year-on-year, with **RMB 518 million** in unutilized raised funds and progress made on the big data cloud platform project - Investment during the reporting period totaled **RMB 115 million**, a year-on-year increase of **307.19%**[114](index=114&type=chunk) - As of June 30, 2017, cumulative utilization of raised funds was **RMB 2.265 billion**, with **RMB 518 million** remaining unutilized[121](index=121&type=chunk) - The big data cloud platform fundraising project has commenced implementation, with an IDC service operation agreement signed with China Telecom Urumqi Branch, involving an estimated total investment of **RMB 80 million**[121](index=121&type=chunk) [Analysis of Major Holding and Associate Companies](index=38&type=section&id=%E4%B8%83%E3%80%81%E4%B8%BB%E8%A6%81%E6%8E%A7%E8%82%A1%E5%8F%82%E8%82%A1%E5%85%AC%E5%8F%B8%E5%88%86%E6%9E%90) During the reporting period, several subsidiaries significantly contributed to the company's net profit, including Chengdu Ofeiling Communication, Beijing Feilixin Electronics, Shanghai Jiedong System Engineering Control, Xiamen Jingtu Information, and Beijing Tianyun Power, while Donglan Digital and Hulian Tianxia recorded losses Major Holding and Associate Companies' Performance | Subsidiary Name | Operating Revenue (RMB) | Net Profit (RMB) | | :--- | :--- | :--- | | **Chengdu Ofeiling Communication Technology Co., Ltd.** | 79,541,905.35 | 41,606,470.33 | | **Beijing Feilixin Electronic Technology Co., Ltd.** | 243,995,887.63 | 42,394,854.89 | | **Shanghai Jiedong System Engineering Control Co., Ltd.** | 194,516,601.60 | 38,054,102.15 | | **Xiamen Jingtu Information Technology Co., Ltd.** | 118,371,360.58 | 25,447,363.25 | | **Beijing Tianyun Power Technology Co., Ltd.** | 190,341,716.26 | 24,991,179.55 | | **Donglan Digital Co., Ltd.** | 11,293,450.54 | -13,957,514.17 | | **Hulian Tianxia Technology Development (Shenzhen) Co., Ltd.** | 19,789,285.66 | -3,478,449.83 | [Risks and Countermeasures](index=42&type=section&id=%E5%8D%81%E3%80%81%E5%85%AC%E5%8F%B8%E9%9D%A2%E4%B8%B4%E7%9A%84%E9%A3%8E%E9%99%A9%E5%92%8C%E5%BA%94%E5%AF%B9%E6%8E%AA%E6%96%BD) The company faces risks from policy and market changes, R&D, talent retention, product iteration, high accounts receivable, project management, and post-M&A integration and performance realization, particularly the uncertainty of achieving performance commitments from acquired entities like Donglan Digital - The company's customers are primarily government and military entities, making its business highly susceptible to policy changes; the big data industry is transitioning from concept to practical implementation, demanding higher service quality[157](index=157&type=chunk) - The company's self-produced products, such as smart conferencing systems, are in a transition period between old and new generations, which may temporarily affect market competitiveness[161](index=161&type=chunk) - Business expansion has led to increased accounts receivable risk for the company[162](index=162&type=chunk) - There is a risk that performance commitments from acquired entities may not be fulfilled; Donglan Digital, acquired in 2014, failed to meet its 2016 performance target, and the company has initiated arbitration for performance compensation[164](index=164&type=chunk)[167](index=167&type=chunk) [Significant Matters](index=45&type=section&id=%E7%AC%AC%E4%BA%94%E8%8A%82%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) This section details important events and commitments, including the status of performance commitments from acquired entities and the implementation of employee incentive plans [Commitments](index=46&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E3%80%81%E8%82%A1%E4%B8%9C%E3%80%81%E5%85%B3%E8%81%94%E6%96%B9%E3%80%81%E6%94%B6%E8%B4%AD%E4%BA%BA%E4%BB%A5%E5%8F%8A%E5%85%AC%E5%8F%B8%E7%AD%89%E6%89%BF%E8%AF%BA%E7%9B%B8%E5%85%B3%E6%96%B9%E5%9C%A8%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%B1%A5%E8%A1%8C%E5%AE%8C%E6%AF%95%E5%8F%8A%E6%88%AA%E8%87%B3%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E8%B6%85%E6%9C%9F%E6%9C%AA%E5%B1%A5%E8%A1%8C%E5%AE%8C%E6%AF%95%E7%9A%84%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9) During the reporting period, most commitment parties fulfilled their obligations, but the performance commitment for Donglan Digital, acquired in 2014, was not met for 2016, leading the company to initiate arbitration for compensation - Donglan Digital's performance commitment parties (Donglan Shangmao, etc.) failed to meet the 2016 performance commitment, requiring compensation to the company; as the counterparty refused to fulfill, the company has initiated arbitration with the Beijing Arbitration Commission[174](index=174&type=chunk) [Litigation Matters](index=70&type=section&id=%E5%85%AB%E3%80%81%E8%AF%89%E8%AE%BC%E4%BA%8B%E9%A1%B9) The most significant litigation during the reporting period involves the company's arbitration application to the Beijing Arbitration Commission for performance compensation from Donglan Digital's original shareholders, totaling **RMB 222.39 million**, with judicial freezing of the respondents' shares already in effect Major Litigation (Arbitration) | Litigant (Arbitration Party) | Cause of Action | Amount Involved (RMB 10,000) | Progress | | :--- | :--- | :--- | :--- | | Feilixin vs. Ningbo Dongkong Group and four other parties | Performance commitment compensation dispute | 22,238.76 | Awaiting hearing; asset preservation application approved by court, judicial freezing of respondents' shares implemented | [Employee Incentives](index=72&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E6%9D%83%E6%BF%80%E5%8A%B1%E8%AE%A1%E5%88%92%E3%80%81%E5%91%98%E5%B7%A5%E6%8C%81%E8%82%A1%E8%AE%A1%E5%88%92%E6%88%96%E5%85%B6%E4%BB%96%E5%91%98%E5%B7%A5%E6%BF%80%E5%8A%B1%E6%8E%AA%E6%96%BD%E7%9A%84%E5%AE%9E%E6%96%BD%E6%83%85%E5%86%B5) In the first half of 2017, the company approved and began implementing its 'First Phase Employee Stock Ownership Plan (Draft) and Summary' to enhance incentive mechanisms and align the interests of shareholders, the company, and employees - The company's first phase employee stock ownership plan was approved by the Board of Directors and Shareholders' Meeting in May and June 2017, and is currently being implemented as of the reporting date[229](index=229&type=chunk) [Share Changes and Shareholder Information](index=79&type=section&id=%E7%AC%AC%E5%85%AD%E8%8A%82%20%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E5%8F%8A%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) This section details changes in the company's share capital structure and provides an overview of its shareholder base, including major shareholders and share pledge information [Share Change Status](index=79&type=section&id=%E4%B8%80%E3%80%81%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, the company's total share capital remained at **1.435 billion shares**, while restricted shares significantly decreased from **713 million** to **394 million** due to the expiration of lock-up periods for some private placement and M&A-related financing shares - During the reporting period, restricted shares decreased by **318 million shares** due to the lifting of sales restrictions on some shares issued in the 2014 and 2015 major asset restructurings and related supporting financing[254](index=254&type=chunk)[255](index=255&type=chunk) [Shareholder Information](index=88&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E4%B8%9C%E6%95%B0%E9%87%8F%E5%8F%8A%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5) As of the end of the reporting period, the company had **58,894** shareholders, with key shareholders Yang Zhenhua, Cao Xinjun, Chen Hongshun, and Wang Shouyan acting in concert, holding a significant combined stake, and multiple shareholders, including controlling shareholder Yang Zhenhua, having pledged a portion of their shares Top Ten Shareholders and Share Pledges | Shareholder Name | Shareholding Percentage | Shares Held at Period-end | Restricted Shares Held | Pledged or Frozen Status | | :--- | :--- | :--- | :--- | :--- | | **Yang Zhenhua** | 13.29% | 190,812,084 | 143,109,063 | Pledged 105,210,000 | | **Cao Xinjun** | 5.46% | 78,321,100 | 58,740,825 | Pledged 11,180,000 | | **Chen Hongshun** | 4.16% | 59,653,750 | 44,740,312 | Pledged 11,000,000 | | **Wang Shouyan** | 2.76% | 39,552,666 | 29,664,499 | Pledged 27,593,950 | [Information on Directors, Supervisors, and Senior Management](index=92&type=section&id=%E7%AC%AC%E5%85%AB%E8%8A%82%20%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E6%83%85%E5%86%B5) This section provides details regarding the composition and key information of the company's Board of Directors, Board of Supervisors, and senior management team [Financial Report](index=95&type=section&id=%E7%AC%AC%E5%8D%81%E8%8A%82%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E5%91%8A) This section contains the company's comprehensive financial statements and detailed notes, providing a complete overview of its financial performance and position [Financial Statements](index=95&type=section&id=%E4%BA%8C%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section presents the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity for the first half of 2017, showing steady asset growth, increased revenue and net profit, but negative operating cash flow [Consolidated Balance Sheet](index=95&type=section&id=1%E3%80%81%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) This table presents the consolidated financial position of the company and its subsidiaries as of the reporting period end [Consolidated Income Statement](index=100&type=section&id=3%E3%80%81%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) This table presents the consolidated financial performance of the company and its subsidiaries for the reporting period [Consolidated Cash Flow Statement](index=104&type=section&id=5%E3%80%81%E5%90%88%E5%B9%B6%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) This table presents the consolidated cash flows from operating, investing, and financing activities for the company and its subsidiaries during the reporting period [Notes to Consolidated Financial Statements](index=138&type=section&id=%E4%B8%83%E3%80%81%E5%90%88%E5%B9%B6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E9%A1%B9%E7%9B%AE%E6%B3%A8%E9%87%8A) This section provides detailed notes on key items in the consolidated financial statements, including accounts receivable of **RMB 1.995 billion**, goodwill of **RMB 2.458 billion** (with a **RMB 5.135 million** impairment for Donglan Digital), and details on short-term and long-term borrowings - At period-end, the book value of accounts receivable was **RMB 1.995 billion**, with a provision for bad debts of **RMB 232 million**, from a gross balance of **RMB 2.227 billion**[447](index=447&type=chunk) - At period-end, the original book value of goodwill was **RMB 2.458 billion**, primarily from the acquisitions of Donglan Digital, Tianyun Technology, Jingtu Information, Jiedong Control, Ofeiling Communication, and Hulian Tianxia; an impairment provision of **RMB 5.135 million** was made for goodwill related to Donglan Digital[527](index=527&type=chunk)[529](index=529&type=chunk) [Reference Documents](index=191&type=section&id=%E7%AC%AC%E5%8D%81%E4%B8%80%E8%8A%82%20%E5%A4%87%E6%9F%A5%E6%96%87%E4%BB%B6%E7%9B%AE%E5%BD%95) This section lists all supporting documents available for reference, which complement the information presented in the main report

北京飞利信科技股份有限公司 2017 年第一季度报告全文 北京飞利信科技股份有限公司 2017 年第一季度报告 2017-026 2017 年 04 月 1 北京飞利信科技股份有限公司 2017 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。 公司负责人杨振华、主管会计工作负责人邓世光及会计机构负责人(会计主 管人员)邓世光声明：保证季度报告中财务报表的真实、准确、完整。 2 北京飞利信科技股份有限公司 2017 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 公司是否因会计政策变更及会计差错更正等追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业总收入（元） | 352,313,544.96 | 314,407,427.23 | 12.06% | | 归属于上市公司股东的净利润（ ...

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北京飞利信科技股份有限公司 2015 年年度报告全文 北京飞利信科技股份有限公司 2015 年年度报告 2016-028 2016 年 04 月 1 北京飞利信科技股份有限公司 2015 年年度报告全文 第一节 重要提示、目录和释义 本公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的 真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和 连带的法律责任。 公司负责人杨振华、主管会计工作负责人邓世光及会计机构负责人(会计主 管人员)邓世光声明：保证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。 本年度报告中涉及的发展战略、经营计划等前瞻性陈述，不构成公司对投 资者的实质承诺，敬请广大投资者注意投资风险。 公司已在本报告中详细描述可能存在的相关风险，敬请查阅第四节管理层 讨论与分析中关于公司未来发展的讨论与分析中可能面对的风险因素及对策部 分的内容。 公司经本次董事会审议通过的利润分配预案为：以 1,435,273,808 为基数， 向全体股东每 10 股派发现金红利 0.28 元（含税），送红股 0 股（含税），以资本 公积金向全体股东每 10 ...

北京飞利信科技股份有限公司 2016 年第一季度报告全文 北京飞利信科技股份有限公司 2016 年第一季度报告 2016-029 2016 年 04 月 1 北京飞利信科技股份有限公司 2016 年第一季度报告全文 第一节 重要提示 本公司董事会、监事会及其董事、监事、高级管理人员保证本报告所载资 料不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的真实性、准 确性和完整性承担个别及连带责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人杨振华、主管会计工作负责人邓世光及会计机构负责人(会计主 管人员)邓世光声明：保证季度报告中财务报告的真实、完整。 2 北京飞利信科技股份有限公司 2016 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 公司是否因会计政策变更及会计差错更正等追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业总收入（元） | 314,407,427.23 | 205,336,140.37 | 53.12% | | 归属于上市公司股东 ...

北京飞利信科技股份有限公司 2015 年第三季度报告全文 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 | | --- | --- | --- | --- | | 杨振华 | 董事长 | 出差 | 曹忻军 | 北京飞利信科技股份有限公司 2015 年第三季度报告 2015-117 2015 年 10 月 1 北京飞利信科技股份有限公司 2015 年第三季度报告全文 第一节 重要提示 本公司董事会、监事会及其董事、监事、高级管理人员保证本报告所载资料不存在任何虚假记载、误 导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 公司是否因会计政策变更及会计差错更正等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 | | 总资产（元） | 2,626,854,444.42 | | 2,595,427,978.44 | 1.21% | ...