深圳市聚飞光电股份有限公司 2021 年第一季度报告全文 深圳市聚飞光电股份有限公司 2021 年第一季度报告 2021 年 04 月 1 深圳市聚飞光电股份有限公司 2021 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。 公司负责人邢美正、主管会计工作负责人吕加奎及会计机构负责人(会计主 管人员)吕加奎声明：保证季度报告中财务报表的真实、准确、完整。 2 深圳市聚飞光电股份有限公司 2021 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | |-----------------------------------------------------|------------------|------------------|---------------------------| | □ 是 √ 否 | 本 ...

Financial Performance - Net profit attributable to shareholders decreased by 18.39% to CNY 88,170,700.84 for the reporting period[8] - Operating revenue for the period was CNY 689,672,647.89, down 1.88% year-on-year[8] - Basic earnings per share decreased by 12.50% to CNY 0.07 for the reporting period[8] - The weighted average return on equity was 3.65%, down 1.57% compared to the previous year[8] - The company reported a decrease of 8.62% in total revenue for the year-to-date, amounting to CNY 1,690,121,883.56[8] - The net profit attributable to shareholders for the year-to-date was CNY 230,995,108.51, down 9.20%[8] - Total operating revenue for the current period was CNY 689,672,647.89, a decrease of 1.75% compared to CNY 702,903,760.22 in the previous period[60] - Net profit for the current period was CNY 89,412,520.96, down 17.3% from CNY 108,034,893.31 in the previous period[63] - The net profit for the current period is approximately CNY 214.55 million, down 20.3% from CNY 269.34 million in the previous period[80] - The company's total profit for the current period is approximately CNY 241.58 million, down 21.2% from CNY 306.69 million in the previous period[80] Cash Flow and Assets - The net cash flow from operating activities was negative at CNY -132,536,252.34, a decrease of 247.71%[8] - Net cash flow from operating activities decreased by 37.31% to CNY 207,782,325.22, mainly due to increased cash payments for goods and services[29] - Cash flow from financing activities rose significantly by 464.97% to CNY 487,790,130.63, due to funds raised from the public issuance of convertible bonds[29] - Cash inflow from financing activities reached CNY 802.33 million, up from CNY 144.97 million year-over-year[91] - The ending balance of cash and cash equivalents was CNY 129.15 million, slightly down from CNY 132.22 million at the end of the previous period[91] - The company reported a total cash inflow from operating activities of approximately CNY 1.89 billion, compared to CNY 1.68 billion in the previous period[84] - Cash and cash equivalents at the end of the period amounted to approximately CNY 161.97 million, a decrease from CNY 173.54 million at the end of the previous period[87] Assets and Liabilities - Total assets increased by 15.82% to CNY 4,778,502,400.93 compared to the end of the previous year[8] - Total liabilities increased to CNY 2,383,588,593.02 from CNY 1,912,154,299.62, representing an increase of approximately 24.6%[50] - Total equity attributable to shareholders rose to CNY 2,385,050,720.40 from CNY 2,205,612,963.77, an increase of about 8.1%[50] - Total non-current assets decreased to CNY 1,279,002,647.76 from CNY 1,306,223,265.59, a decline of about 2.1%[47] - The company’s total assets reached CNY 4,778,502,400.93, up from CNY 4,125,881,758.97, indicating an increase of about 15.8%[50] - Total liabilities were CNY 1.91 billion, unchanged from the previous period, indicating stable leverage[101] - The company’s total equity stood at CNY 2.21 billion, consistent with the previous reporting period[101] Shareholder Information - The company did not experience any changes in share capital due to new share issuance or other reasons during the reporting period[8] - The company reported a total of 143,251,643 shares held by major shareholders, with the largest shareholder holding 62,900,000 shares[16] - The top 10 shareholders did not engage in any repurchase transactions during the reporting period[16] - The company has a total of 135,961,219 restricted shares, with 2,997,340 shares released during the reporting period[23] - The company plans to unlock 25% of the shares held by executive shareholders annually based on the last trading day of the previous year[17] - The company has not disclosed any related party relationships among the top 10 shareholders[16] Expenses and Costs - Total operating costs increased to CNY 587,857,435.48, up 3.06% from CNY 570,203,584.61 in the previous period[60] - Financial expenses surged by 341.87% to CNY 21,786,180.16, attributed to interest expenses and exchange losses from convertible bonds issued in April 2020[26] - Research and development expenses increased to CNY 29,838,147.61, up from CNY 27,050,916.95 in the previous period, indicating a focus on innovation[60] - Research and development expenses for the current period are ¥84,642,917.92, compared to ¥79,630,530.10 in the previous period, showing an increase of about 6.3%[73] Other Financial Metrics - Non-recurring gains and losses totaled CNY 17,403,060.35 for the year-to-date[11] - The company has maintained a clear and transparent cash dividend policy, distributing CNY 1.00 per 10 shares to shareholders[34] - The company reported an investment income of CNY 8,479,434.10, a substantial increase from CNY 1,920,914.25 in the previous period[63] - The company reported a 551.38% increase in asset disposal losses to CNY -4,892,078.85, reflecting higher losses from fixed asset disposals[29] - The company has adopted new revenue and leasing standards starting from 2020, necessitating adjustments to the beginning balance sheet items[92]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 1,000,449,235.67, a decrease of 12.75% compared to CNY 1,146,609,273.39 in the same period last year[25]. - The net profit attributable to shareholders of the listed company was CNY 142,824,407.67, down 2.40% from CNY 146,343,502.36 year-on-year[25]. - The basic earnings per share for the reporting period was CNY 0.11, a decrease of 8.33% from CNY 0.12 in the same period last year[25]. - Revenue for the reporting period was approximately CNY 1,000.45 million, a decrease of 12.75% compared to CNY 1,146.61 million in the same period last year[81]. - Operating costs decreased by 15.16% to CNY 710.41 million from CNY 837.36 million year-on-year[81]. - The gross margin for the LED industry segment was 28.69%, with a slight decrease of 0.24% compared to the previous year[84]. Cash Flow and Assets - The net cash flow from operating activities increased by 40.80% to CNY 340,318,577.56, compared to CNY 241,710,615.51 in the previous year[25]. - Cash and cash equivalents at the end of the reporting period amounted to ¥258,730,809.96, accounting for 5.69% of total assets, a decrease of 0.98% compared to the previous year[88]. - Accounts receivable decreased to ¥781,703,495.68, representing 17.18% of total assets, down 4.82% year-on-year[88]. - Trading financial assets increased significantly by 107.81%, primarily due to increased cash management purchases during the reporting period[42]. - The company reported a 142.15% increase in investment income to CNY 12.16 million from CNY 5.02 million in the previous year[81]. Market and Business Focus - The company's main business focuses on the research, production, and sales of SMD LED products, primarily in the LED packaging sector, with a strategic emphasis on expanding into new areas such as display LEDs and automotive LEDs[36]. - The global market share for backlight LED products has been steadily increasing, despite a slight revenue decline compared to the previous year due to the COVID-19 pandemic; however, the business is expected to return to normal as the pandemic is controlled[37]. - The lighting LED business has experienced a continuous decline in sales revenue compared to the previous year, attributed to intense competition and a slowdown in global economic conditions[38]. - The automotive LED business maintained rapid growth despite a significant decline in global automotive sales due to the pandemic, with products widely used in major domestic terminal manufacturers[58]. - The company aims to launch high-end lighting products to mitigate the adverse effects of the declining lighting LED market[38]. Research and Development - Key R&D projects include "Mini LED module manufacturing technology" and "high-power automotive lighting LED devices," aimed at enhancing product quality and competitiveness[61][67]. - Research and development expenses increased by 4.23% to CNY 54.80 million, compared to CNY 52.58 million in the previous year[81]. Strategic Initiatives - The company plans to expand its market presence by focusing on the Pearl River Delta, nationwide coverage, and international market penetration[70]. - The strategic focus includes strengthening the LED segment, expanding into semiconductor packaging, and leveraging optical film materials for broader applications[70][71]. - The company aims to enhance its global market share and enter top-tier international supply chains through its internationalization strategy[71]. Risk Factors - The company faced market risks due to increasing competition, which could negatively impact its market share and position[133]. - The LED industry has seen a decline in product sales prices, which poses a risk to the company's profitability if it fails to innovate and offer cost-effective products[134]. - Management risks are heightened as the company grows, necessitating improvements in operational efficiency and governance[135]. Corporate Governance and Compliance - The company reported no significant litigation or arbitration matters during the reporting period, ensuring a stable legal environment for operations[154]. - There were no penalties or rectification measures imposed on the company during the reporting period, indicating compliance with regulations[155]. - The company has established a long-term incentive mechanism to attract and retain talent, aligning the interests of shareholders, the company, and management[156]. Investment and Financing - The company issued convertible bonds totaling ¥704,688,100.00, with a net amount raised of ¥694,486,330.79 after deducting issuance costs[94]. - The total amount of entrusted wealth management during the reporting period was ¥844,790,000, with an unexpired balance of ¥1,628,574,000[106]. - The company has maintained a low-risk investment strategy, primarily utilizing self-owned funds for wealth management[112].

Financial Performance - The company's operating revenue for 2019 was CNY 2,506,856,474.33, representing a 6.90% increase compared to CNY 2,345,024,339.67 in 2018[22] - The net profit attributable to shareholders for 2019 was CNY 308,432,396.89, a significant increase of 93.01% from CNY 159,804,568.73 in 2018[22] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 267,245,818.42, up 100.74% from CNY 133,132,115.68 in the previous year[22] - The net cash flow from operating activities reached CNY 498,149,107.35, a remarkable increase of 564.82% compared to CNY 74,930,411.71 in 2018[22] - The basic earnings per share for 2019 was CNY 0.25, reflecting a 92.31% increase from CNY 0.13 in 2018[22] - Total assets at the end of 2019 amounted to CNY 4,125,881,758.97, a 26.88% increase from CNY 3,251,759,670.57 at the end of 2018[22] - The net assets attributable to shareholders increased to CNY 2,205,612,963.77, up 14.69% from CNY 1,923,103,072.93 in 2018[22] - The weighted average return on equity for 2019 was 15.05%, an increase of 6.50% from 8.55% in 2018[22] Revenue Breakdown - The company achieved total revenue of CNY 250,685.65 million in 2019, a year-on-year increase of 6.90%[47] - Backlight LED products generated sales revenue of CNY 191,865.90 million, up 16.07% year-on-year, accounting for 76.54% of total revenue[47] - The company’s lighting LED products saw a decline in sales revenue to CNY 23,367.96 million, which is a decrease of 20.43% compared to the previous year[48] - The automotive LED segment showed strong performance with sales increasing year-on-year, and the company successfully achieved mass production of automotive lighting LED products[49] Strategic Initiatives - The company plans to distribute a cash dividend of CNY 1.00 per 10 shares to all shareholders, based on a total of 1,278,023,219 shares[6] - The company aims to expand its product offerings into new areas such as Mini/Micro LED and IR LED, while also enhancing its semiconductor packaging capabilities[32] - The company plans to expand its production capacity and enhance its R&D capabilities through the issuance of convertible bonds, with funds allocated for the Huizhou LED product expansion project and the Huizhou LED technology R&D center[55] - The company is focusing on international expansion and aims to penetrate the supply chains of top-tier international clients[48] Research and Development - The company's R&D expenditure for 2019 was CNY 120.83 million, accounting for 4.82% of total revenue, which is an increase from 4.09% in 2018[74] - The company has ongoing R&D projects including "ceramic high-power LED packaging technology" and "Mini LED module manufacturing technology" aimed at enhancing product competitiveness[74][79] - The company has developed core technologies in areas such as ultra-thin, low light decay, high color rendering, and high reliability, holding multiple patents and proprietary technologies[120] Market Position and Competition - The backlight LED business experienced a revenue growth of over 16% compared to the previous year, indicating a strong market position and increasing global market share[32] - The company has maintained a leading position in the global backlight LED market, with continuous product innovation and deepening international partnerships contributing to stable revenue growth[33] - The lighting LED business saw a decline in sales revenue compared to the previous year, attributed to intensified competition and a strategic optimization of production plans[34] - The LED industry is entering a mature phase with stable growth, driven by policies promoting ultra-high-definition video technology, which is expected to enhance demand for stable inorganic LED products[104] Cash Management and Dividends - The company has set a cash dividend policy to distribute at least 30% of the average annual distributable profit over the past three years in cash, with a minimum of 10% of the current year's distributable profit[130] - The company will prioritize cash dividends in its profit distribution, especially in mature stages without significant capital expenditure plans, aiming for a minimum of 80% of the distribution to be in cash[135] - The company has a clear and transparent cash dividend policy, ensuring that minority shareholders have opportunities to express their opinions and that their rights are protected[137] - The total distributable profit for the year was 911,143,607.50 yuan, with cash dividends accounting for 100% of the profit distribution[139] Corporate Governance - The company has committed to not engaging in any competitive business activities that may harm its interests or those of minority shareholders[156] - The audit firm, Asia Pacific (Group) CPA Firm, has been retained for 12 consecutive years, with an audit fee of 500,000 RMB for the reporting period[163] - There were no significant litigation or arbitration matters during the reporting period[167] - The company has not faced any penalties or rectification issues during the reporting period[168] Shareholder Incentives - The company approved the 2016 Restricted Stock Incentive Plan, granting 7.278 million shares at a price of RMB 4.97 per share, with a total investment of RMB 29,487,010 from the incentive recipients[173] - A total of 223 incentive recipients were granted restricted stock, with 593,300 shares issued initially, and 134,500 shares reserved for future grants[174] - The company granted 24 million shares of restricted stock to 89 incentive recipients under the 2018 incentive plan, with an additional 6 million shares reserved[191] - The company’s independent directors provided independent opinions on the repurchase and cancellation of restricted stock, ensuring compliance with legal requirements[182]

Financial Performance - Total revenue for Q1 2020 was ¥439,548,585.06, a decrease of 14.69% compared to ¥515,247,185.29 in the same period last year[8] - Net profit attributable to shareholders was ¥54,717,231.67, down 2.75% from ¥56,262,977.79 year-on-year[8] - Basic earnings per share decreased by 20.00% to ¥0.04 from ¥0.05 in the same period last year[8] - The company reported a decrease in weighted average return on equity to 2.45% from 2.88% year-on-year[8] - The net profit attributable to the parent company is ¥54,717,231.67, a decrease of 2.9% from ¥56,262,977.79 in the previous period[68] - Net profit for the current period is ¥54,956,248.66, an increase of 1.7% compared to ¥54,033,800.97 in the previous period[68] - Total comprehensive income for the current period is $60.42 million, down from $62.32 million in the previous period[75] Cash Flow - Net cash flow from operating activities increased significantly by 208.66%, reaching ¥230,441,526.16 compared to ¥74,658,254.36 in the previous year[8] - Cash flow from operating activities increased to $230.44 million, compared to $74.66 million in the previous period, showing a significant improvement[76] - The net cash flow from operating activities increased significantly to ¥226,540,157.43, compared to ¥15,600,391.42 in the previous period, representing a growth of approximately 1,452%[83] - Cash inflow from operating activities totaled ¥715,703,510.10, up from ¥510,348,825.29, indicating a rise of about 40.2%[83] - Cash outflow from operating activities decreased slightly to ¥489,163,352.67 from ¥494,748,433.87, showing a reduction of approximately 1.2%[83] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,884,833,194.31, a decrease of 5.84% from ¥4,125,881,758.97 at the end of the previous year[8] - Total liabilities decreased from ¥1,912,154,299.62 to ¥1,614,644,916.56, a decline of around 15.56%[49] - Current liabilities decreased from ¥1,817,514,981.77 to ¥1,526,242,514.98, a reduction of about 16.00%[49] - Non-current liabilities decreased from ¥94,639,317.85 to ¥88,402,401.58, a decrease of approximately 6.00%[49] - Owner's equity increased from ¥2,213,727,459.35 to ¥2,270,188,277.75, an increase of about 2.55%[52] - The total assets amount to ¥3,946,338,659.36, down from ¥4,121,584,423.45 in the previous period[59] - Total liabilities amounted to ¥1,532,555,802.66, a decrease from ¥1,769,877,384.76 in the previous period[59] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 78,563[12] - Major shareholders include Xing Meizheng and Li Xiaodan, each holding 11.21% of shares[12] - The total number of restricted shares decreased to 135,347,879 after unlocking 1,438,340 shares during the reporting period[19] Operational Highlights - The company is focusing on expanding its LED product lines, including Mini/Micro LED and IR LED, while maintaining its market share in backlight and lighting LEDs[26] - International sales have increased, contributing to a stable growth in product sales revenue and global market share[27] - The company has initiated several key R&D projects, including "ceramic high-power LED packaging technology" and "Mini LED module manufacturing technology" to enhance product offerings[30][31] - The company maintains a strong competitive advantage in the LED lighting market, particularly in high-end markets in Europe and the US[27] - The company has successfully adjusted its product structure to mitigate the impacts of the COVID-19 pandemic on production and logistics[35] Expenses and Investments - Total operating costs for the current period are ¥383,349,139.57, down 15% from ¥450,972,490.71 in the previous period[64] - The company reported a decrease in research and development expenses to ¥23,930,271.59 from ¥21,235,699.53 in the previous period, indicating a 12.7% increase[64] - The company reported investment income of $2.94 million, an increase from $1.65 million in the previous period, indicating better investment performance[72] Other Financial Metrics - Government subsidies recognized in the current period amounted to ¥8,481,749.78[8] - Credit impairment losses were reported at ¥9,687,989.05, reflecting the new financial instrument standards[22] - Contract liabilities reached ¥3,187,831.98, marking a 100% increase due to the adoption of new revenue recognition standards[22] - The company reported a significant reduction in non-operating expenses by 91.55% to ¥2,645.58[22] - Financial expenses dropped by 98.29% to ¥63,042.67 mainly due to changes in exchange gains and losses[22]

Financial Performance - Net profit attributable to shareholders rose by 99.85% to CNY 108,044,325.61 for the reporting period[8] - Operating revenue for the period was CNY 702,903,760.22, reflecting a year-on-year increase of 17.85%[8] - The net profit after deducting non-recurring gains and losses increased by 108.60% to CNY 98,280,275.61 for the reporting period[8] - Basic earnings per share reached CNY 0.08, a 100% increase compared to the same period last year[8] - The weighted average return on equity improved to 5.22%, up from 2.32% in the previous year[8] - The total comprehensive income for the current period is CNY 111,577,125.13, compared to CNY 55,913,099.03 in the previous period, showing an increase of approximately 99.5%[90] - The net profit for the current period is CNY 253,290,965.44, compared to CNY 135,967,144.39 in the previous period, indicating an increase of about 86.5%[96] - The total comprehensive income attributable to the parent company's owners is CNY 254,387,827.97, compared to CNY 136,797,547.98 in the previous period, indicating an increase of approximately 86.1%[96] Assets and Liabilities - Total assets increased by 22.69% to CNY 3,989,480,594.96 compared to the end of the previous year[8] - The company's total liabilities reached CNY 1,843,298,795.38, compared to CNY 1,309,364,553.06 in the previous year, marking an increase of around 40.6%[51] - Total current liabilities increased to CNY 1,769,827,531.60 from CNY 1,228,616,280.32, representing a significant rise of approximately 44%[38] - The equity attributable to the parent company was CNY 2,128,151,386.59, up from CNY 1,923,103,072.93, reflecting a growth of about 10.7%[64] - Total liabilities rose to ¥1,513,528,209.03, compared to ¥1,208,921,793.48, marking an increase of 25.2%[78] - The company reported a total non-current asset value of CNY 921,290,624.06, with fixed assets valued at CNY 384,890,920.96[130] Cash Flow - The net cash flow from operating activities increased by 199.92% to CNY 331,440,732.38 compared to the same period last year[8] - Cash flow from operating activities surged by 199.92% to ¥331,440,732.38 due to decreased cash payments for goods and services[26] - Cash inflow from operating activities totaled ¥1,814,627,054.53, up from ¥1,587,213,225.69, indicating a rise of 14.3%[112] - Cash outflow for purchasing goods and services was ¥1,306,354,621.55, compared to ¥1,231,680,613.85 in the previous period, reflecting an increase of 6.1%[112] - The company reported a decrease in cash and cash equivalents at the end of the period to ¥173,537,315.07, down from ¥254,593,312.34 at the end of the previous period[111] Shareholder Information - The total number of shareholders at the end of the reporting period was 52,262[12] - Major shareholder Xing Meizheng holds 11.20% of the shares, with a total of 143,251,644 shares[12] - The company has a clear cash dividend policy for the years 2019-2021, ensuring the protection of minority shareholders' rights[30] Government Subsidies and Other Income - The company received government subsidies amounting to CNY 33,512,664.50 during the reporting period[8] - Other income increased by 41.09% to ¥33,512,664.50 mainly from higher government subsidies received[26] Research and Development - Research and development expenses for the period were ¥27,050,916.95, slightly up from ¥25,937,865.32, indicating continued investment in innovation[79] - Research and development expenses for the current period amount to CNY 79,630,530.10, an increase from CNY 67,877,164.16 in the previous period, representing a growth of about 17.5%[96] Financial Position and Commitments - The company has no overdue commitments from controlling shareholders or related parties during the reporting period[31] - There were no violations regarding external guarantees during the reporting period[30]

Financial Performance - Total revenue for the first half of 2019 was CNY 1,146,609,273.39, an increase of 1.88% compared to CNY 1,125,449,450.09 in the same period last year[24]. - Net profit attributable to shareholders was CNY 146,343,502.36, representing a significant increase of 76.88% from CNY 82,735,671.54 year-on-year[24]. - The net profit after deducting non-recurring gains and losses was CNY 128,664,600.62, up 90.68% from CNY 67,477,486.91 in the previous year[24]. - The net cash flow from operating activities reached CNY 241,710,615.51, a remarkable increase of 235.01% compared to CNY 72,150,224.30 in the same period last year[24]. - Basic earnings per share rose to CNY 0.12, a 71.43% increase from CNY 0.07 in the previous year[24]. - The company's operating revenue for the reporting period was ¥1,146,609,273.39, representing a year-on-year increase of 1.88% compared to ¥1,125,449,450.09 in the previous year[77]. - The operating cost decreased by 7.36% to ¥837,359,792.17 from ¥903,927,573.01, leading to improved profitability[77]. - Research and development expenses increased by 24.70% to ¥52,579,613.15, indicating a strong focus on innovation[77]. - The gross profit margin for the LED industry segment was 28.93%, with a year-on-year increase of 6.85%[77]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,831,585,503.76, reflecting a growth of 17.83% from CNY 3,251,759,670.57 at the end of the previous year[24]. - Net assets attributable to shareholders increased to CNY 2,019,360,937.15, up 5.01% from CNY 1,923,103,072.93 at the end of the previous year[24]. - Cash and cash equivalents increased by 51.62%, primarily due to received loans that have not yet been fully utilized[40]. - Accounts receivable decreased by 4.69% to CNY 819,843,234.36, accounting for 21.40% of total assets, down from 26.09%[81]. - Inventory decreased by 0.96% to CNY 189,799,852.82, representing 4.95% of total assets, compared to 5.91% last year[81]. - Other current assets increased by 73.69% to CNY 558,454,845.04, now 14.58% of total assets, up from 9.89%[84]. - Short-term borrowings increased by 100% to CNY 135,000,000.00, representing 3.52% of total assets[81]. - Construction in progress increased by 186.28% to CNY 190,581,103.83, accounting for 4.97% of total assets, up from 2.05%[81]. - Notes payable increased by 64.48% to CNY 750,544,816.05, now 19.59% of total assets, compared to 14.03% last year[84]. - Other payables increased by 39.30% to CNY 157,370,945.97, representing 4.11% of total assets, up from 3.47%[84]. Business Segments - The company's backlight LED business experienced stable growth, with product revenue increasing by approximately 15% compared to the same period last year[35]. - Backlight LED products generated sales revenue of 848.56 million CNY, up 14.55% year-on-year, accounting for 74.01% of total revenue[50]. - The lighting LED business faced intense competition, resulting in a significant decline in sales revenue compared to the previous year[37]. - The company is focusing on the development of new LED products, including ultra-thin side-emitting LED devices and Mini LED module technology, to enhance market competitiveness[55][58]. - The company aims to expand its LED product offerings into related fields such as automotive LEDs and display LEDs, leveraging existing resource advantages[53][66]. Strategic Initiatives - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[7]. - The company aims to strengthen high-end lighting LED product development and cultivate strategic partnerships globally despite current market challenges[37]. - The company has established strategic partnerships with major material suppliers, ensuring quality while maintaining cost reduction capabilities[44]. - The company plans to strengthen its international strategy to increase global market share and enter first-class international supply chains[53]. - The company is committed to enhancing the quality of its products as a key strategy to connect with customers and expand market presence[66]. Subsidiaries and Investments - The company has a total registered capital of 5,780 million RMB for its subsidiary Shenzhen Jumei Industrial Co., Ltd.[102]. - The company is focused on expanding its optical materials and electronic products business through its subsidiaries[104]. - The company has established wholly-owned subsidiaries, including Huizhou Jufei Optoelectronics Co., Ltd. with a registered capital of RMB 100 million and Wuhu Jufei Optoelectronics Technology Co., Ltd. with a registered capital of RMB 50 million, focusing on the development and production of optoelectronic devices and LED products[106]. - The company acquired 51% of LiveCom Limited through its wholly-owned subsidiary Jufei (Hong Kong) Development Co., Ltd., with the acquisition completed in January 2016, integrating LiveCom into the company's consolidated financial statements[107]. Risks and Challenges - The company is a leading manufacturer of backlight LEDs in mainland China, with a strong emphasis on technological capability and management level, but faces risks from domestic and international competition[110]. - There is a risk of declining product sales prices due to continuous technological innovation and increased production capacity in the LED industry, which may affect the company's market position if it fails to adapt[111]. - The company has developed several core technologies in areas such as ultra-thin, low light decay, high color rendering, and high reliability, but risks falling behind if it does not keep pace with industry trends and technological advancements[111]. Shareholder Information - The total number of shares decreased from 1,272,924,477 to 1,272,646,559, a reduction of 277,918 shares[190]. - The largest shareholder, Xing Meizheng, holds 11.26% of shares, totaling 143,251,644 shares[199]. - The total number of shareholders with more than 5% voting rights is 10[199]. - The total number of shares pledged by shareholders is 66,670,000[199]. - The total number of unrestricted shares remained at 1,132,210,118, with a slight increase in proportion from 88.95% to 88.97%[190].

Financial Performance - Total revenue for Q1 2019 was ¥515,247,185.29, a decrease of 9.38% compared to ¥568,580,977.84 in the same period last year[8]. - Net profit attributable to shareholders was ¥56,262,977.79, an increase of 52.82% from ¥36,816,641.60 year-on-year[8]. - Net profit excluding non-recurring gains and losses reached ¥46,813,582.73, up 74.46% from ¥26,834,048.86 in the previous year[8]. - Basic earnings per share increased to ¥0.05, representing a growth of 66.67% compared to ¥0.03 in the previous year[8]. - The total revenue for the reporting period was 515.25 million yuan, a decrease of 9.38% compared to the same period last year[26]. - The net profit attributable to shareholders of the listed company was 56.26 million yuan, an increase of 52.82% year-on-year[26]. - Operating profit increased to ¥65,655,791.45, up 50.61% from ¥43,606,943.84 in the previous period[91]. - Net profit for the current period is ¥54,033,800.97, representing a 50.00% increase from ¥36,058,604.11 in the previous period[91]. - Total comprehensive income for the current period is ¥54,816,950.12, an increase from ¥35,845,983.86 in the previous period[93]. Cash Flow - Operating cash flow for the period was ¥74,658,254.36, a significant improvement from a negative cash flow of ¥3,671,585.48 in the same period last year[8]. - The net cash flow from operating activities is 74,658,254.36, a turnaround from a net outflow of -3,671,585.48 in the previous period[102]. - Cash inflow from operating activities totaled 546,948,798.20, compared to 340,874,468.30 in the previous period, representing a year-over-year increase of about 60.6%[102]. - Cash outflow from investing activities was 267,530,950.12, down from 401,336,967.76 in the previous period, showing a reduction of approximately 33.3%[102]. - The net cash flow from investing activities is -98,474,147.33, compared to -24,997,959.52 in the previous period, indicating a worsening in investment cash flow[102]. Assets and Liabilities - Total assets at the end of the reporting period were ¥3,341,598,240.87, reflecting a 2.76% increase from ¥3,251,759,670.57 at the end of the previous year[8]. - Total liabilities amounted to CNY 1,344,386,173.24, up from CNY 1,309,364,553.06, which is an increase of around 2.67%[59]. - Owner's equity reached CNY 1,997,212,067.63, compared to CNY 1,942,395,117.51, showing a growth of about 2.83%[74]. - Total current assets as of January 1, 2019, amounted to CNY 2,051,808,888.52, with cash and cash equivalents at CNY 285,156,355.44[109]. - Total liabilities as of January 1, 2019, were CNY 1,309,364,553.06, with current liabilities at CNY 1,228,616,280.32[112]. Shareholder Information - The company had a total of 57,464 common shareholders at the end of the reporting period[11]. - The top shareholder, Xing Meizheng, held 11.26% of the shares, amounting to 143,251,644 shares[11]. - The company reported a total of CNY 1,979,786,493.20 in equity attributable to shareholders, up from CNY 1,923,103,072.93, indicating an increase of about 2.94%[72]. Research and Development - The company is actively developing new LED products, including "Ultra-thin Narrow Border Side-emitting LED Devices" and "100% DCI P3 LED Devices" to enhance product competitiveness[30][31]. - Key R&D projects include "High Power Automotive Lighting LED Devices" and "Mini LED Module Technology," which are currently in development stages[31][34]. - The company is focusing on technological innovation and lean management to expand its LED-related product offerings[30]. Market Strategy - The company plans to expand into new LED markets, including display LEDs, automotive LEDs, and semiconductor packaging[26]. - The company aims to solidify its global market share in backlight LED products while advancing its international strategy[27]. - The company has established strong relationships with strategic major customers in the lighting LED business, enhancing its brand presence in high-end markets[27]. Other Financial Metrics - The company experienced a 39.50% increase in asset impairment losses, totaling 11.50 million yuan, primarily due to increased inventory write-downs[21]. - Investment income decreased by 74.03%, amounting to 1.65 million yuan, due to reduced redemptions of bank wealth management products[21]. - Research and development expenses decreased to ¥21,235,699.53, down 12.66% from ¥24,372,600.52 in the previous period[88]. - The company reported an asset impairment loss of ¥11,497,717.23, up from ¥8,241,905.40 in the previous period[88].

Financial Performance - The company's operating revenue for 2018 was CNY 2,345,024,339.67, representing a 14.11% increase compared to CNY 2,055,139,742.26 in 2017[15]. - The net profit attributable to shareholders for 2018 was CNY 159,804,568.73, a significant increase of 167.02% from CNY 59,847,804.91 in 2017[15]. - The net profit after deducting non-recurring gains and losses was CNY 133,132,115.68, up 138.37% from CNY 55,850,254.15 in the previous year[15]. - The net cash flow from operating activities was CNY 74,930,411.71, an increase of 64.28% compared to CNY 45,611,941.44 in 2017[15]. - The basic earnings per share for 2018 was CNY 0.13, reflecting a 160.00% increase from CNY 0.05 in 2017[15]. - The total revenue for the LED industry reached approximately ¥2.08 billion, representing a year-over-year increase of 11.81%[48]. - The gross margin for the LED industry improved to 23.86%, an increase of 1.35% compared to the previous year[48]. - The company reported a significant increase in accounts receivable and notes receivable, with a total of CNY 1,285,703,180.55, up from CNY 477,486,376.87 for notes receivable alone in the previous year[119]. Assets and Liabilities - The total assets at the end of 2018 were CNY 3,251,759,670.57, a decrease of 2.00% from CNY 3,318,279,113.01 at the end of 2017[15]. - The net assets attributable to shareholders increased by 5.34% to CNY 1,923,103,072.93 from CNY 1,825,623,099.95 in 2017[15]. - The company's goodwill decreased by 43.19% due to impairment provisions made for its Hong Kong subsidiary during the reporting period[27]. - The company reported a significant increase in other payables, which rose by 157.02% to ¥112,973,513.78, due to increased equipment payables and stock repurchase obligations[66]. - Total assets at the end of 2018 were significantly impacted, with cash and cash equivalents decreasing to ¥285,156,355.44, down from ¥336,544,390.84 in 2017[64]. Dividend Distribution - The company plans to distribute a cash dividend of CNY 0.45 per 10 shares, totaling CNY 57,258,090.66 based on 1,272,646,559 shares[4]. - The total distributable profit for the year was 674,899,157.51 CNY, with the remaining undistributed profit carried forward to future years amounting to 617,630,062.35 CNY[109]. - The company has a policy to distribute at least 30% of the average distributable profit over the past three years in cash dividends, with a minimum of 10% for the current year[105]. - The cash dividend distribution plan aligns with the company's articles of association and relevant regulations[108]. - In 2018, the cash dividend amount for the company was 57,269,095.16, representing 35.84% of the net profit attributable to ordinary shareholders[112]. Business Operations and Strategy - The company is focusing on expanding its market share in the LED industry, which is experiencing a shift towards higher concentration and quality control[84]. - The company is expanding into new markets, including automotive LED products, which have shown significant growth and passed audits from major clients[38]. - The company has established a strategic partnership with major material suppliers, ensuring quality while maintaining a good cost reduction capability[31]. - The company is implementing an internationalization strategy to increase its global market share by actively exploring overseas markets[89]. - The company aims to expand its market presence by leveraging its headquarters in Shenzhen and its facilities in Huizhou and Wuhu to strengthen its foothold in South China and expand into East and North China[88]. Research and Development - R&D expenses for the year amounted to ¥95.98 million, accounting for 4.09% of total revenue, with a year-over-year increase of 9.53%[57][58]. - The company has developed several new LED products, including "Mini LED module technology" and "high-efficiency large power LED devices," aimed at enhancing product competitiveness[59][60]. - The number of R&D personnel increased to 331, accounting for 14.07% of total employees, compared to 305 and 14.04% in the previous year[63]. Corporate Governance and Compliance - The company has implemented a comprehensive internal control system to enhance corporate governance and protect the rights of shareholders and creditors[175]. - The company has maintained a stable audit relationship with the accounting firm for 11 years, with an audit fee of CNY 500,000[122]. - The company has not faced any major litigation or arbitration issues during the reporting period[123]. - The company has fulfilled all commitments made by actual controllers, shareholders, and related parties during the reporting period[113]. Social Responsibility and Community Engagement - The company invested 101 million in vocational skills training, benefiting 958 individuals, and helped 65 registered impoverished households achieve employment[185]. - The company donated a LED packaging line valued at 2.48 million (net value 600,000) to Shenzhen Vocational and Technical College for educational purposes[183]. - The company actively engages in environmental protection initiatives, promoting energy-saving practices among employees and participating in community service activities[182]. Stock Incentive Plans - The company has implemented a restricted stock incentive plan to attract and retain talent, with the first grant of 593,300 shares at a price of CNY 4.97 per share[129]. - The stock incentive plan is designed to align the interests of the company and its key personnel, ensuring the achievement of strategic and operational goals[142]. - The company granted 24 million restricted stocks to 89 incentive objects as part of the 2018 stock incentive plan, with an additional 6 million reserved[143].

深圳市聚飞光电股份有限公司 2018 年第三季度报告全文 深圳市聚飞光电股份有限公司 2018 年第三季度报告 2018 年 10 月 1 深圳市聚飞光电股份有限公司 2018 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人邢美正、主管会计工作负责人吕加奎及会计机构负责人(会计主 管人员)吕加奎声明：保证季度报告中财务报表的真实、准确、完整。 2 深圳市聚飞光电股份有限公司 2018 年第三季度报告全文 截止披露前一交易日的公司总股本： 截止披露前一交易日的公司总股本（股） 1,248,924,477 非经常性损益项目和金额 √ 适用 □ 不适用 单位：元 | 项目 | 年初至报告期期末金额 | 说明 | | --- | --- | --- | | 非流动资产处置损益（包括已计提资产减值准备的冲销部分） | -517,098.73 | | | 计入当期损益的政府补助（与企业业务密切相关，按照国家统 一标准定额或 ...