Group 1: Company Performance - The company's Q3 2021 performance showed a year-on-year decline, primarily due to the pandemic's impact, which delayed some product demand from Q1 and Q2 to Q3 and Q4 [1] - The overall economic environment has weakened consumer demand in the electronics market, affecting the peak season performance [1] Group 2: Mini LED Product Development - The company has been supplying Mini LED products in bulk since last year, with significant demand expected in the upcoming year due to the broad application market [2] - Mini LED products are available in various technical solutions, including COG, COB, and POB, tailored to customer needs [2] - The company maintains a competitive edge in Mini LED packaging by leveraging long-term relationships with existing customers and focusing on technological innovation [2] Group 3: Automotive LED Applications - The company's automotive LED products are used in various applications, including vehicle electronics, dashboards, interior lighting, and navigation screens, with a growing market presence [3] - Currently, revenue from automotive backlight products is higher than that from lighting products [3] - The company has entered the supply chains of major automotive manufacturers, including GAC, BYD, and Changan [3] Group 4: Future Investments - The company plans to increase investments in traditional backlight and lighting products, as well as in new products like automotive LEDs, Mini, Micro, and invisible light technologies [3]

Group 1: Company Performance - The company's Q3 2021 performance showed a year-on-year decline due to the pandemic's impact, with demand for some products delayed from Q1 and Q2 to Q3 and Q4 [2] - The overall economic environment has weakened the consumer electronics market, leading to less than expected performance during the peak season [2] Group 2: Product Development - The company plans to expand production capacity for its LED lighting products [3] - Mini LED products are primarily used in televisions, monitors, and automotive applications, with a growing acceptance in the market [3][4] - The company is focusing on high-end lighting markets despite increased competition in the Mini LED sector [4] Group 3: Supply Chain and Material Costs - Rising prices of raw materials due to international capital pursuits are expected to negatively impact production, but resources will prioritize leading enterprises [3] - The company is implementing strategies such as advance payments to secure supply chain stability [3] Group 4: Future Investments - The company is increasing investments in various new products, including automotive LEDs, Mini, Micro, and invisible light technologies [5] - The invisible light business has made significant progress, gaining recognition from leading brands in the smart wearable sector [5] Group 5: Optical Film Business - The optical film business has achieved breakthroughs and is expanding cooperation with existing customers, particularly in high-end product launches [4] - The optical film products utilize copper roller imprinting technology and are applicable in various display screens [4]

Group 1: Financial Performance - The company's overall sales structure has changed due to significant pressure on the consumer electronics market, leading to a decline in performance in Q3 2022 [1] - The comprehensive gross margin decreased by 1 percentage point due to a significant drop in product sales volume [2] Group 2: Mini LED Business - The Mini LED market is becoming increasingly competitive, with many companies actively expanding production; however, the company maintains a strong position due to long-term relationships with customers and a focus on technological innovation [2] - The company's Mini LED products are primarily used in televisions, gaming, laptops, displays, and automotive electronics, with monthly shipment volumes increasing [2] - The current penetration rate of Mini LED products is low, indicating a growing market capacity in the future [2] Group 3: Automotive LED Products - The company's automotive backlight products face higher technical challenges compared to consumer electronics, requiring stringent reliability testing due to extreme conditions [2] - The competitive landscape for automotive LED products is favorable, as the company is the only mainland brand in the global supply chain, with competitors mainly being overseas brands [3] Group 4: Expansion Plans - The company is steadily expanding production based on customer demand, with healthy cash flow and sufficient funds; the second phase of the Huizhou subsidiary's construction is expected to be completed by mid-2023 [3] - The production capacity of the Huizhou subsidiary is planned to be five times that of the Shenzhen facility, with new production lines for Mini LED and automotive products being established [3] Group 5: Future Growth Points - The main profit growth points for 2023 will come from the rapid development of new businesses, including Mini LED products, automotive LED products, and invisible light technologies [3] - The shift of fundraising projects to Shenzhen is due to the rich technical resources and better talent attraction for R&D [3]

Financial Performance - The company's revenue for Q3 2022 was ¥587,435,804.77, a decrease of 0.11% compared to the same period last year[6] - Net profit attributable to shareholders was ¥44,483,991.65, down 35.84% year-on-year[6] - The net profit excluding non-recurring gains and losses was ¥34,196,791.41, a decline of 37.78% compared to the previous year[6] - The basic earnings per share for Q3 2022 was ¥0.03, a decrease of 40.00% year-on-year[6] - Total operating revenue for the third quarter was ¥1,659,061,186.78, a decrease of 3.97% compared to ¥1,727,854,159.73 in the same period last year[31] - The company's net profit for the third quarter was approximately ¥159.81 million, a decrease of 19.1% compared to ¥197.61 million in the same period last year[34] - Operating profit for the quarter was ¥175.73 million, down from ¥197.74 million, reflecting a decline of 11.1% year-over-year[34] - The company reported a total comprehensive income of ¥161.24 million, compared to ¥197.66 million in the previous year, indicating a decline of 18.4%[37] - Basic and diluted earnings per share were both ¥0.12, down from ¥0.15 in the same period last year[37] Assets and Liabilities - The total assets at the end of Q3 2022 were ¥4,955,883,029.99, showing a slight increase of 0.01% from the end of the previous year[6] - Total assets reached ¥4,955,883,029.99, slightly up from ¥4,955,629,997.43, showing a marginal increase[27] - Total liabilities increased to ¥2,062,321,201.12 from ¥2,047,585,380.68, representing an increase of 0.12%[30] - The total equity attributable to shareholders decreased to ¥2,873,135,158.05 from ¥2,891,400,865.80, a decline of 0.63%[30] Cash Flow - The company's cash flow from operating activities for the year-to-date was ¥319,016,489.61, down 44.14% compared to the same period last year[6] - Cash flow from operating activities generated a net amount of ¥319.02 million, down 44.1% from ¥571.07 million in the same quarter last year[38] - Cash flow from investing activities resulted in a net outflow of ¥270.79 million, an improvement from the previous year's outflow of ¥436.20 million[40] - The company's cash and cash equivalents amounted to ¥866,326,730.27, down from ¥924,111,240.41, indicating a decrease of 6.26%[26] - The company’s cash flow from financing activities was negative at ¥-147,734,490.15, a decrease of 41.62% year-on-year, primarily due to increased bank borrowings[12] Shareholder Information - The total number of common shareholders at the end of the reporting period is 84,244[14] - The largest shareholder, Li Xiaodan, holds 10.67% of shares, totaling 143,251,643 shares[14] - The second-largest shareholder, Xing Meizheng, holds 8.06% of shares, totaling 108,251,644 shares, with 21,850,000 shares pledged[14] - Shenzhen Yinuo Financial Investment Co., Ltd. holds 4.51% of shares, totaling 60,600,000 shares[14] - The total number of shares held by the top ten shareholders includes significant stakes from natural persons and private investment funds[14] - The company has a total of 0 shares of preferred stock held by shareholders[18] - The report indicates that there are no new shares issued during the period[18] - The company maintains a strategy of managing shareholder equity through restricted stock plans and shareholder engagement[20] Investment and Expenses - The company reported a significant increase in financial expenses, with a loss of ¥24,218,963.34, a decrease of 245.85% year-on-year[10] - Investment income for the year-to-date was ¥32,308,608.36, an increase of 208.26% compared to the previous year[10] - Research and development expenses amounted to ¥97.58 million, slightly down from ¥102.23 million year-over-year[34] - The company incurred financial expenses of approximately -¥24.22 million, a significant change from the previous year's financial income of ¥16.61 million[34] Operational Highlights - The company experienced a 52.44% increase in construction in progress, totaling ¥238,571,175.70, due to increased investment in factory construction[10] - The company's inventory rose to ¥314,028,045.10 from ¥257,999,655.78, marking an increase of 21.56%[26] - Short-term borrowings increased to ¥160,163,222.22 from ¥140,188,711.11, reflecting a rise of 14.36%[27] - The company plans to focus on expanding its market presence and investing in new technologies to drive future growth[29]

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 1,071,625,382.01, a decrease of 5.98% compared to CNY 1,139,763,262.04 in the same period last year[27]. - Net profit attributable to shareholders was CNY 111,546,546.92, down 10.23% from CNY 124,256,553.99 year-on-year[27]. - The net cash flow from operating activities was CNY 275,775,917.10, representing a significant decline of 44.91% compared to CNY 500,603,160.47 in the previous year[27]. - Basic earnings per share decreased by 20.00% to CNY 0.08 from CNY 0.1 in the same period last year[27]. - Total assets at the end of the reporting period were CNY 5,013,671,948.53, an increase of 1.17% from CNY 4,955,629,997.43 at the end of the previous year[27]. - Net assets attributable to shareholders increased by 2.25% to CNY 2,956,531,011.30 from CNY 2,891,400,865.80 at the end of the previous year[27]. - The company reported a slight decline in product sales revenue compared to the previous year due to the ongoing global pandemic and changing political and economic environments[38]. - Revenue for the reporting period was ¥1,071,625,382.01, a decrease of 5.98% compared to ¥1,139,763,262.04 in the same period last year[69]. - Operating costs decreased by 5.01% to ¥808,444,442.68 from ¥851,100,059.06 year-on-year[69]. - Research and development expenses were ¥63,554,082.04, down 2.46% from ¥65,155,380.71 in the previous year[69]. - Investment income increased by 94.83% to ¥17,352,166.30 from ¥8,906,281.04 in the previous year[69]. - The gross margin for the LED industry was 25.49%, a decrease of 0.56% compared to the previous year[72]. Business Strategy and Market Position - The company specializes in the R&D, production, and sales of SMD LED products, focusing on LED packaging, with a strategy to expand into automotive LEDs, Mini/Micro LEDs, and high-end lighting[38]. - The company's Mini LED technology has matured, gaining widespread recognition from automotive and electronic terminal customers, with increasing monthly shipments[39]. - The global automotive display market is projected to reach approximately $17.7 billion in 2022, presenting significant growth opportunities for automotive LEDs[43]. - The company has solidified its leading position in the domestic backlight LED market, with a growing global market share, particularly in Mini LED and automotive LED products[44]. - The company's automotive LED business has seen significant growth, with products fully integrated into the global supply chain of major automotive manufacturers[63]. - The Mini LED product line is expanding in both consumer electronics and automotive markets, benefiting from the technology's maturity and stable supply chain[64]. - The company has established strategic partnerships with leading material suppliers, ensuring quality while maintaining cost reduction capabilities[54]. - The company aims to enhance its competitive advantage by providing customized solutions and expanding into new product applications and international markets[111]. Research and Development - R&D investments have led to the completion of key projects, including automotive multi-chip ceramic packaged LED devices and high-brightness signal light LED devices, enhancing product offerings[45][48]. - The company has implemented a digital management system across its business processes, improving internal management and operational efficiency[49]. - The company has established a standardized design platform and has participated in formulating multiple LED industry standards, contributing to technological advancements in the sector[49]. - The company aims to enhance new product development quality and cost-effectiveness through a market-oriented approach and comprehensive management systems[48]. - The company has developed multiple core technologies and patents, maintaining a leading position in the industry, but risks falling behind if it fails to innovate[107]. Financial Management and Investments - The company has generated investment income of RMB 25,111,505.44 from wealth management products, with net interest income from the raised funds account amounting to RMB 1,022,376.16[86]. - The company reported a total of RMB 7,200,000.00 in entrusted wealth management during the reporting period, with a total balance of RMB 99,200,000.00[95]. - The company has not made any changes to the investment projects of raised funds during the reporting period[93]. - The total amount of raised funds is RMB 694,486,330.79, with a total investment of RMB 21,920,930.00, accounting for 31.56% of the net raised funds[86]. - The LED product expansion project in Huizhou has a total investment commitment of RMB 54,689,750.00, with cumulative investment of RMB 19,002,930.00, representing 35.41% of the investment progress[88]. - The LED technology research and development center project in Huizhou has a total investment commitment of RMB 15,779,060.00, with cumulative investment of RMB 2,918,000.00, representing 18.49% of the investment progress[88]. Corporate Governance and Social Responsibility - The company strictly fulfills its information disclosure obligations, ensuring all shareholders receive timely and accurate information[134]. - Employee benefits include full payment of social insurance and housing fund, along with additional perks like meal subsidies and transportation[135]. - The company actively engages in social responsibility initiatives, including poverty alleviation through vocational training and job placements in impoverished areas[142]. - The company emphasizes environmental protection and energy conservation as part of its corporate mission, promoting green practices among employees[141]. - The company actively manages waste according to environmental regulations and has implemented a comprehensive energy management system[126]. - The company has reduced energy consumption by over 20% through energy-saving renovations and has generated 945,000 kWh of solar power, reducing CO2 emissions by 896 tons[126][128]. - The lighting system has fully adopted LED sources, significantly reducing energy consumption[131]. - Annual electricity savings from energy-saving renovations and monitoring platforms amount to approximately 2.4936 million kWh, leading to a reduction of about 2,366.2 tons of CO2 emissions[131]. Risks and Challenges - The company faces market risks due to competition, which may affect its ability to expand market share and improve market position[105]. - The risk of declining product sales prices due to continuous technological innovation and increased production efficiency in the LED industry[106]. - The company faces risks from rising raw material prices and supply fluctuations, which may negatively impact production operations[106]. - As the company grows, the complexity of its internal organization and management system increases, raising operational risks if management does not keep pace[108]. - The implementation of convertible bond projects faces risks from macroeconomic factors, market conditions, and management uncertainties[111]. Shareholder Information - The total number of shares decreased by 265,420, resulting in a total share count of 1,342,323,281[174]. - The company repurchased a total of 21,012,976 shares, accounting for 1.57% of the total share capital, with a total transaction amount of 113,974,776.72 yuan[178]. - The highest transaction price during the share repurchase was 6.19 yuan per share, and the lowest was 4.68 yuan per share[178]. - The total number of ordinary shareholders at the end of the reporting period was 91,646, with major shareholders holding over 5% of shares[187]. - The largest shareholder, Li Xiaodan, holds 10.67% of the shares, totaling 143,251,643 shares, with 14,169,995 shares frozen[187]. - The second-largest shareholder, Xing Meizheng, holds 8.06% of the shares, totaling 108,251,644 shares, with 26,500,000 shares pledged[187]. - The total number of shares subject to restrictions from the 2018 stock incentive plan is 2,622,400, with 40% unlocking ratio[182]. - The total number of shares held by the top 10 unrestricted shareholders includes 143,251,643 shares by Li Xiaodan and 60,600,000 shares by Shenzhen Yinuo Caida Investment Co., Ltd.[188]. - The company did not experience any changes in its controlling shareholder or actual controller during the reporting period[195].

Financial Performance - The company's operating revenue for 2021 was ¥2,371,349,276.39, representing a 0.86% increase compared to ¥2,351,118,040.80 in 2020[25]. - The net profit attributable to shareholders for 2021 was ¥271,651,634.53, a decrease of 10.91% from ¥304,925,533.62 in 2020[25]. - The net profit after deducting non-recurring gains and losses was ¥210,387,803.77, down 15.90% from ¥250,153,795.34 in 2020[25]. - The net cash flow from operating activities increased by 132.36% to ¥571,360,485.58 from ¥245,896,540.44 in 2020[25]. - The total assets at the end of 2021 were ¥4,955,629,997.43, a slight decrease of 0.01% from ¥4,956,154,922.36 at the end of 2020[25]. - The net assets attributable to shareholders increased by 15.93% to ¥2,891,400,865.80 from ¥2,493,999,568.63 at the end of 2020[25]. - The company reported a basic earnings per share of ¥0.21, down 12.50% from ¥0.24 in 2020[25]. - In 2021, the company achieved total revenue of 2,371.35 million CNY, a year-on-year increase of 0.86%[79]. - The net profit attributable to shareholders was 271.65 million CNY, a decrease of 10.91% compared to the previous year[79]. Market and Industry Outlook - The company anticipates a gradual recovery in the LED industry driven by the demand for smart devices and automotive displays[39]. - The company noted an increase in market competition domestically while experiencing steady growth in overseas market share[44]. - The demand for LED products is rapidly increasing across various sectors, including smartphones, tablets, laptops, TVs, and emerging markets like automotive electronics and health lighting[45]. - The Mini/Micro LED technology is becoming the mainstream solution in the new display market, with many companies launching products since 2021, indicating a growing trend towards industrialization[46]. - The company expects long-term growth in the automotive LED market driven by the dual carbon policy and increasing demand for electric vehicles[138]. - The company plans to leverage domestic policies supporting the LED industry chain, such as the "14th Five-Year Plan," to seize development opportunities[138]. Research and Development - The company is recognized as a national high-tech enterprise, with its R&D and quality control capabilities positioned at a global leading level[57]. - The company has expanded its R&D platforms and increased investment in new products and technologies, focusing on Mini/Micro LED and invisible light products[83]. - The number of R&D personnel increased by 11.72% to 410 in 2021, with R&D personnel accounting for 18.21% of the total workforce[102]. - The company's R&D investment in 2021 amounted to ¥130,430,691.44, representing 5.50% of operating revenue, an increase from 4.87% in 2020[108]. Corporate Governance - The company held one annual general meeting during the reporting period, with a participation rate of 22.99%[159]. - The board of directors consists of 5 members, including 2 independent directors, complying with legal and regulatory requirements[161]. - The company has established a performance evaluation system linking the performance of directors, supervisors, and senior management to their compensation[166]. - The company has implemented strict information disclosure management to ensure timely and accurate communication with investors[167]. - The company has established four specialized committees under the board of directors to enhance governance and decision-making[163]. Risk Management - The company faces market risks, including a decline in product sales prices and fluctuations in raw material costs[5]. - The company's future development outlook includes addressing risks associated with market fluctuations and raw material prices[5]. - The company is committed to optimizing supply chain resources to mitigate risks from rising raw material prices and supply fluctuations[146]. Shareholder and Management Changes - The total shares held by the chairman and general manager, Xing Meizheng, decreased from 143,251,644 to 108,251,644 due to a reduction of 35,000,000 shares for personal financial needs[175]. - The vice chairman and deputy general manager, Gao Siqing, reduced his holdings from 3,220,000 to 2,419,500 shares, selling 800,500 shares for personal financial needs[175]. - The company has appointed new independent directors, including Zhang Lixia and Chai Guangyue, as part of its governance structure[178]. - The company’s management team has a diverse professional background, with members holding degrees in engineering, finance, and law[179]. Social Responsibility - The company actively engages in social responsibility initiatives, contributing to environmental protection and social harmony[169].

Financial Performance - The company's revenue for Q1 2022 was ¥507,507,457.98, a decrease of 7.82% compared to ¥550,586,923.46 in the same period last year[4] - Net profit attributable to shareholders was ¥52,385,783.67, down 6.29% from ¥55,900,251.04 year-on-year[4] - Total operating revenue for the first quarter was ¥507,507,457.98, a decrease of 7.8% from ¥550,586,923.46 in the previous period[28] - Net profit for the quarter was ¥54,376,306.20, a decline of 4.0% compared to ¥57,095,056.16 in the same period last year[31] Cash Flow - The net cash flow from operating activities was ¥90,569,556.51, reflecting an 8.10% decrease from ¥98,556,010.62 in the previous year[4] - The net cash flow from investing activities was -¥10,764,358.34, a 34.65% improvement compared to -¥16,470,930.45 in the previous year[12] - The net cash flow from operating activities was $90,569,556.51, a decrease of 8.1% compared to the previous period's $98,556,010.62[35] - The net cash flow from financing activities was -$48,774,302.18, an improvement from -$78,392,520.77 in the previous period[38] Assets and Liabilities - The total assets at the end of the reporting period were ¥4,932,168,006.63, a slight decrease of 0.47% from ¥4,955,629,997.43 at the end of the previous year[4] - Total liabilities decreased to ¥2,016,988,327.24, down 1.5% from ¥2,047,585,380.68[27] - The equity attributable to shareholders of the parent company increased slightly to ¥2,896,545,405.91 from ¥2,891,400,865.80[27] Shareholder Information - The number of shares held by the top 10 unrestricted shareholders includes 143,251,643 shares held by Li Xiaodan, representing a significant portion of the total[16] - The top shareholder, Li Xiaodan, holds 143,251,643 shares, which is a substantial stake in the company[16] - The company has implemented a lock-up period for executives, with 100% of shares locked for 6 months post-departure[17] - The company is actively managing its restricted shares, with a systematic release plan based on tenure and performance[20] Expenses - Sales expenses decreased by 33.97% to ¥10,036,446.07, mainly due to the reclassification of transportation costs into operating costs[8] - Investment income decreased by 32.87% to ¥434,208.97, attributed to reduced returns from financial products[8] - The company experienced a significant reduction in income tax expenses by 83.75% to ¥1,366,258.12, due to new tax deduction policies[11] - Research and development expenses increased to ¥30,728,216.55, up 8.5% from ¥28,444,428.00 in the previous year[31] Accounts Receivable - Accounts receivable decreased to ¥796,311,652.43 from ¥885,012,114.98[21] - The company reported a decrease in accounts receivable from the previous period, indicating potential challenges in collections[21] - The company reported a decrease in accounts receivable financing and other receivables, indicating improved cash flow management[24] Cash and Cash Equivalents - The total cash and cash equivalents at the end of Q1 2022 amounted to ¥1,015,838,892.48, an increase from ¥924,111,240.41 at the beginning of the year[21] - The ending cash and cash equivalents balance was $239,586,598.80, compared to $264,642,946.48 at the end of the previous period, a decrease of 9.5%[38] Future Outlook - The company is focusing on market expansion and new product development to drive future growth[30]

Financial Performance - The company's revenue for Q3 2021 was ¥588,090,897.69, a decrease of 14.73% compared to the same period last year[4] - Net profit attributable to shareholders was ¥69,335,240.52, down 21.36% year-on-year[4] - The net profit excluding non-recurring gains and losses was ¥54,960,686.40, reflecting a decline of 36.96% compared to the previous year[4] - Basic earnings per share for Q3 2021 was ¥0.05, down 28.57% from the same period last year[6] - Net profit for the current period was ¥197,611,708.67, a decrease of 15.1% from ¥232,743,700.44 in the previous period[41] - Basic earnings per share for the current period were ¥0.15, down from ¥0.18 in the previous period[41] Cash Flow - The operating cash flow net amount for the year-to-date was ¥571,067,394.31, an increase of 174.84% year-on-year[4] - Operating cash inflow for the current period reached ¥2,283,867,788.30, an increase of 20.5% compared to ¥1,894,577,943.78 in the previous period[44] - Net cash flow from operating activities was ¥571,067,394.31, significantly up from ¥207,782,325.22 in the previous period, marking an increase of 174.5%[47] - Cash inflow from financing activities was ¥80,000,000.00, a decrease of 90.9% compared to ¥882,328,512.00 in the previous period[47] - Net cash flow from financing activities was -¥253,044,371.43, contrasting with a positive flow of ¥487,790,130.63 in the previous period[47] Assets and Liabilities - Total assets at the end of Q3 2021 were ¥4,832,439,029.22, a decrease of 2.50% from the end of the previous year[6] - The company's total current assets amounted to approximately CNY 3.42 billion, a decrease of about 5.1% from CNY 3.61 billion on December 31, 2020[32] - The company's cash and cash equivalents were CNY 836.21 million, down from CNY 907.75 million at the end of 2020, representing a decline of approximately 7.9%[32] - Total liabilities decreased to ¥1,990,205,120.99 from ¥2,451,222,931.30, a reduction of 18.7%[38] - The company's non-current assets totaled CNY 1.33 billion, with fixed assets valued at CNY 962.37 million, slightly down from CNY 967.36 million at the end of 2020[32] Shareholder Information - The total number of common shareholders at the end of the reporting period is 106,208[15] - The largest shareholder, Li Xiaodan, holds 10.67% of the shares, totaling 143,251,643 shares[15] - The second-largest shareholder, Xing Meizheng, holds 8.81% of the shares, totaling 118,251,644 shares[15] - The company has a repurchase special account holding 8,890,096 shares, which accounts for 0.66% of the total shares[18] - The number of restricted shares held by Xing Meizheng is 107,438,733, with no shares released during the period[19] Investment and Expenses - The company reported a 49.21% decrease in investment income, totaling ¥10,481,035.77 for the year-to-date[11] - The company experienced a 254.24% increase in fair value changes of financial assets, amounting to ¥18,972,681.92 for the year-to-date[11] - Total operating costs amounted to ¥1,551,686,878.73, up from ¥1,446,656,308.55, reflecting a year-over-year increase of 7.3%[39] - Research and development expenses were not explicitly detailed but are included in the total operating costs[39] Future Plans - The company plans to use between CNY 100 million and CNY 150 million for share repurchase to implement employee stock ownership plans or equity incentives[27] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[39]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,139,763,262.04, representing a 13.93% increase compared to CNY 1,000,449,235.67 in the same period last year[26]. - The net profit attributable to shareholders of the listed company was CNY 124,256,553.99, a decrease of 13.00% from CNY 142,824,407.67 in the previous year[26]. - The net profit after deducting non-recurring gains and losses was CNY 102,570,478.72, down 18.85% from CNY 126,401,769.07 year-on-year[26]. - The net cash flow from operating activities increased by 47.10% to CNY 500,603,160.47, compared to CNY 340,318,577.56 in the same period last year[26]. - The total assets at the end of the reporting period were CNY 4,868,657,062.44, a decrease of 1.77% from CNY 4,956,154,922.36 at the end of the previous year[26]. - The net assets attributable to shareholders of the listed company were CNY 2,456,522,560.93, down 1.50% from CNY 2,493,999,568.63 at the end of the previous year[26]. - Basic earnings per share were CNY 0.10, a decrease of 9.09% from CNY 0.11 in the same period last year[26]. - Diluted earnings per share were also CNY 0.10, reflecting a 9.09% decline compared to CNY 0.11 in the previous year[26]. - The weighted average return on equity was 4.87%, down 1.40% from 6.27% in the same period last year[26]. Revenue Breakdown - Revenue from backlight LED products was CNY 806.50 million, up 4.29% year-on-year, accounting for 70.76% of total revenue[38]. - Revenue from lighting LED products reached CNY 155.88 million, a significant increase of 58.64% year-on-year, representing 13.68% of total revenue[40]. - The automotive LED business showed strong performance, driven by the rise of new energy vehicles, indicating substantial growth potential in this segment[41]. Research and Development - The company is actively investing in R&D for Mini/Micro LED and invisible light products, with positive market responses expected in the near future[42]. - The company has made significant progress in optical film materials, expanding cooperation with existing customers and broadening application fields[42]. - The company is implementing strategic emerging industry layouts, including the expansion of its optical device team in high-end semiconductor packaging[43]. - Research and development expenses rose by 18.89% to ¥65,155,380.71, up from ¥54,804,770.31 year-on-year[63]. Operational Efficiency - The company has adopted an integrated financial and business management approach, improving operational efficiency and reducing overall operating costs[57]. - The company has implemented a digital management system across all business processes, enhancing internal management levels and moving towards automation and intelligence[53]. - The company emphasizes a customer-centric development philosophy, which has significantly improved new product quality and cost-effectiveness[47]. Market Challenges - The company faced challenges from rising raw material costs and currency fluctuations, impacting profit margins despite revenue growth[37]. - The fluctuation in raw material prices poses a risk, with increased procurement costs affecting gross margins if not managed properly[94]. - The company faces market risks due to increasing competition, which may impact its ability to expand market share and improve market position[94]. Shareholder Actions - The company plans not to distribute cash dividends or issue bonus shares during this reporting period[6]. - The company has implemented a stock repurchase plan, canceling 408,400 restricted shares, which is 0.0320% of the total share capital[106]. - The company plans to repurchase shares with a total amount between RMB 100 million and RMB 150 million, with a maximum price of RMB 7.40 per share[145]. Financial Position - The company's interest coverage ratio is 7.21, a decrease of 58.35% compared to the same period last year, primarily due to increased interest expenses from convertible bonds[179]. - The debt-to-asset ratio is 49.26%, a slight decrease from 49.46% at the end of the previous year[180]. - The total amount of the convertible bonds issued is ¥704.17 million, with a coupon rate that increases from 0.40% in the first year to 3.50% in the sixth year[168]. Corporate Governance - The company did not experience any changes in its controlling shareholder during the reporting period[160]. - The company has not conducted any agreed repurchase transactions among its top shareholders during the reporting period[158]. - The company has established partnerships with local colleges to enhance vocational training and employment opportunities for students[111].

Financial Performance - The company's operating revenue for 2020 was CNY 2,351,118,040.80, a decrease of 6.21% compared to CNY 2,506,856,474.33 in 2019[23] - The net profit attributable to shareholders of the listed company was CNY 304,925,533.62, down 1.14% from CNY 308,432,396.89 in the previous year[23] - The net profit after deducting non-recurring gains and losses was CNY 250,153,795.34, a decrease of 6.40% compared to CNY 267,245,818.42 in 2019[23] - The net cash flow from operating activities was CNY 245,896,540.44, a significant decline of 50.64% from CNY 498,149,107.35 in 2019[23] - The total assets at the end of 2020 reached CNY 4,956,154,922.36, an increase of 20.12% from CNY 4,125,881,758.97 at the end of 2019[23] - The net assets attributable to shareholders of the listed company were CNY 2,493,999,568.63, up 13.08% from CNY 2,205,612,963.77 in 2019[23] - The basic earnings per share for 2020 was CNY 0.24, a decrease of 4.00% compared to CNY 0.25 in 2019[23] - The diluted earnings per share also stood at CNY 0.24, reflecting a 4.00% decline from the previous year[23] - The weighted average return on net assets was 12.88%, down from 15.05% in 2019, indicating a decrease of 2.17%[23] Revenue Breakdown - The company's total revenue for Q1, Q2, Q3, and Q4 was approximately ¥439.55 million, ¥560.90 million, ¥689.67 million, and ¥660.99 million respectively, showing a slight decline in Q4 compared to Q3[26] - Net profit attributable to shareholders for the same quarters was approximately ¥54.72 million, ¥88.11 million, ¥88.17 million, and ¥73.93 million, indicating a decrease in Q4[26] - The company's backlight LED products generated sales revenue of CNY 1,789.49 million, a decline of 6.73%, accounting for 76.10% of total revenue, with a product yield rate of 99.0%[50] - The lighting LED products achieved sales revenue of CNY 239.49 million, an increase of 2.49%, representing 10.19% of total revenue, with a yield rate of 98.90%[51] - The automotive LED business showed significant growth, with successful entry into the global supply chain of major clients, and the company is now the only mainland brand in this sector[55] - LED industry revenue was ¥2,191,829,593.87, accounting for 93.22% of total revenue, down 3.01% from the previous year[67] - Backlight LED revenue was ¥1,789,486,526.20, representing 76.10% of total revenue, with a decline of 6.73% year-over-year[67] Cash Flow and Investments - The net cash flow from operating activities decreased by 50.64% year-on-year, primarily due to increased cash payments for goods and services[88] - Cash inflow from investment activities increased by 231.51% compared to the previous year, mainly due to an increase in the redemption of financial products[88] - Cash inflow from financing activities rose by 211.81% year-on-year, primarily due to funds raised from the public issuance of convertible bonds[88] - The company's cash and cash equivalents increased by CNY 125.25 million, a significant turnaround from a decrease of CNY 47.21 million in the previous year[88] - The company reported a significant increase in cash and cash equivalents, with a year-end balance of CNY 907.75 million, up 229.89% from the beginning of the year[91] Research and Development - The company has increased R&D investment in new products and technologies, focusing on Mini/Micro LED and invisible light products, with Mini LED products gaining market recognition[55] - The company launched several key R&D projects in 2020, including "Ultra-bright High Color Gamut Backlight LED Devices" and "Mini Backlight Module Manufacturing Technology"[80] - The company's R&D expenses were ¥114,431,541.34, a decrease of 5.29% compared to ¥120,828,558.39 in 2019[77] - In 2020, the company's R&D expenditure was CNY 114.43 million, accounting for 4.87% of total revenue[87] - The number of R&D personnel in 2020 was 367, representing 15.17% of the total workforce[83] Market Position and Strategy - The company has maintained a leading position in the global backlight LED market, with an increasing international sales ratio and stable growth in market share[37] - The company is focusing on high-end lighting products, including plant lighting and health lighting, which saw slight revenue growth compared to the previous year[37] - The company is actively developing new business areas, including high-end packaging and components, to cultivate new growth points for future performance[56] - The company is positioned as a major player in the LED packaging sector, with a focus on expanding its market share through internationalization strategies[119] - The company is enhancing its management capabilities to adapt to its growing operational scale and complexity[133] Profit Distribution and Dividends - The company proposed a cash dividend of CNY 1 per 10 shares, with no bonus shares to be issued[7] - The total distributable profit for the year was 1,021,737,338.53 yuan, with the cash dividend representing 100% of the profit distribution[154] - The cash dividend for the previous year (2019) was 1.00 yuan per 10 shares, amounting to 127,802,321.90 yuan[157] - The cash dividend amount was CNY 127,769,649.50, representing 41.90% of the net profit attributable to ordinary shareholders[158] - The company has a policy to distribute at least 30% of the average annual distributable profit over the past three years in cash dividends[148] Compliance and Governance - The company has ongoing commitments to ensure no unfair advantages or benefits are provided to related parties[166] - The actual controllers have pledged to avoid any conflicts of interest and not to engage in competitive businesses[167] - The company has not reported any non-operating fund occupation by controlling shareholders during the reporting period[170] - The company is committed to adhering to regulatory requirements regarding profit forecasts and related transactions[170] - The company's independent directors have fulfilled their responsibilities in the profit distribution process, ensuring minority shareholders' rights are protected[153] Future Outlook - The company anticipates a broad recovery in the global economy, driven by fiscal stimulus measures and easing pandemic impacts, which will benefit the LED industry[118] - The company expects continued growth in demand for Mini LED products and automotive LED applications, aligning with long-term industry trends[119] - The company plans to deepen its exploration of LED development potential and provide high-quality products and services to meet consumer upgrade demands[119] - The company is exploring potential mergers and acquisitions to strengthen its competitive position in the industry[190] - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share within the next two years[189]