Financial Performance - The company reported a total revenue of RMB 1.2 billion for the fiscal year 2020, representing a year-over-year growth of 15%[22]. - The company's operating revenue for 2020 was ¥1,550,839,809.39, representing an increase of 18.28% compared to ¥1,311,125,161.56 in 2019[35]. - The net profit attributable to shareholders for 2020 was ¥236,831,481.54, a significant increase of 71.71% from ¥137,926,045.87 in 2019[35]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥223,905,787.78, up 73.43% from ¥129,107,755.10 in 2019[35]. - The gross profit margin improved to 45%, up from 42% in the previous year, indicating better cost management[22]. - The company achieved operating revenue of CNY 1,550.84 million, a year-on-year increase of 18.28%[65]. - The net profit attributable to shareholders was CNY 236.83 million, up 71.71% year-on-year, with a net profit of CNY 223.91 million after deducting non-recurring gains and losses, an increase of 73.43%[65]. Investment and R&D - The company is investing RMB 200 million in R&D for new technologies, focusing on AI and big data analytics[22]. - In 2020, the company's R&D investment accounted for approximately 11.60% of its revenue, maintaining over 10% for several consecutive years, which contributed to its technological leadership in the financial technology sector[56]. - Research and development investment amounted to CNY 180 million, accounting for 11.60% of operating revenue[65]. - The company has invested ¥1,912,213.44 in the Longbright Open Platform V1.0 project, which provides external developers with professional support for application development[107]. Market Expansion and Strategy - The company plans to increase investment in its financial services subsidiary, positioning it as a provider of professional services[12]. - Market expansion plans include entering Southeast Asian markets, targeting a revenue contribution of 15% from these regions by 2022[22]. - The company is expanding its overseas business by promoting cloud banking solutions and exploring new SaaS business models in Southeast Asia[169]. - The company aims to simplify business processes and decentralize management to empower frontline employees[13]. Profit Distribution - The company reported a profit distribution plan, proposing a cash dividend of 0.7 yuan per 10 shares (before tax) based on a total of 721,479,478 shares[4]. - The total cash dividend amount for 2020 is RMB 50,503,563.46, which accounts for 21.32% of the company's net profit attributable to ordinary shareholders[186]. - The company’s distributable profit for the reporting period was RMB 219,521,699.71, with 100% of the profit allocated for cash dividends[185]. Client and Market Position - The company has achieved a 95% client coverage rate among commercial banks capable of building their own financial IT systems, establishing itself as an industry leader[50]. - By the end of 2020, the company collaborated with 5 out of 6 major state-owned commercial banks and 11 out of 12 nationwide joint-stock banks, achieving over 86% coverage of clients with assets exceeding 500 billion[53]. - The company has established strategic partnerships, including collaboration with Huawei Cloud and signing a memorandum of understanding with ADGM to promote global financial digital transformation[61]. Challenges and Risks - The company acknowledges the uncertainty in its future development path due to rapid changes in technology and market dynamics[8]. - The company faces market competition risks from various players in the financial technology sector, necessitating continuous market monitoring and R&D investment[170]. - The company is at risk of losing key technical personnel, which could severely impact its business and technological development, and is committed to talent retention strategies[170]. Innovation and Technology - The company emphasized the importance of integrating business and technology, focusing on distributed and cloud-based solutions for future development[9]. - The company focuses on providing financial technology application solutions based on self-developed products, with a primary revenue model centered on customized software development services[47]. - The company has made preparations for digital currency technology, anticipating business opportunities in the banking system once digital currency is fully implemented[47]. Employee and Talent Management - The company is committed to fostering innovation from frontline employees and enhancing talent development and recruitment[13]. - The company has a stable talent pool, with over 90% of its employees being technical staff, and has implemented multiple stock incentive plans to retain core employees[61]. - The company recognizes talent as its greatest asset, implementing measures to empower employees, streamline processes, and enhance innovation from the grassroots level[166].

Financial Performance - The company's revenue for Q1 2021 was ¥169,993,782.61, representing a 28.43% increase compared to ¥132,358,212.94 in the same period last year[7] - Net profit attributable to shareholders was ¥11,946,751.56, a significant turnaround from a loss of ¥24,732,807.11, marking a 148.30% improvement[7] - The net profit after deducting non-recurring gains and losses was ¥3,484,779.30, compared to a loss of ¥25,738,283.52, reflecting a 113.54% increase[7] - Basic earnings per share rose to ¥0.0168 from a loss of ¥0.0357, an increase of 147.06%[7] - The weighted average return on equity improved to 0.87% from -2.32%, an increase of 3.19%[7] - The company achieved operating revenue of 169.99 million yuan, an increase of 28.43% compared to the same period last year[22] - The net profit attributable to shareholders of the listed company was 11.95 million yuan, a significant increase of 148.30% year-on-year[21] - The company reported a net profit of CNY 261.79 million, up from CNY 249.84 million, indicating an increase of about 4.4%[43] - The company achieved a total comprehensive income of CNY 13,023,388.90, recovering from a loss of CNY -21,735,690.56 in the previous year[60] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,042,667,865.32, a slight decrease of 0.01% from the previous year[7] - The net assets attributable to shareholders increased to ¥1,385,111,610.77, up 0.93% from ¥1,372,346,713.06[7] - As of March 31, 2021, the total current assets amounted to approximately CNY 1.43 billion, showing a slight increase from CNY 1.42 billion at the end of 2020[34] - The total non-current assets were reported at CNY 613.68 million, down from CNY 625.90 million, reflecting a decrease of about 1.4%[37] - Total liabilities decreased to CNY 646.20 million from CNY 659.31 million, a reduction of approximately 2%[40] - The company's total equity increased to CNY 1.39 billion from CNY 1.38 billion, showing a growth of about 0.8%[43] - The total liabilities decreased to CNY 1,009,011,667.37 from CNY 1,156,718,473.37, indicating a reduction of 12.8%[50] - The company's total equity stood at CNY 1,246,374,028.55, slightly down from CNY 1,248,633,661.20 year-over-year[50] - Total liabilities reached approximately ¥1.16 billion, with current liabilities at ¥1.06 billion and non-current liabilities at ¥93.93 million[91] Cash Flow - The company reported a net cash flow from operating activities of -¥114,030,002.63, an improvement of 37.37% from -¥182,082,801.96[7] - Cash inflows from operating activities totaled 190,056,185.64, up from 116,421,423.69 in the previous period, representing an increase of approximately 63%[72] - Cash outflows from operating activities amounted to 304,086,188.27, compared to 298,504,225.65 in the previous period, showing a slight increase of about 1.9%[72] - The net cash flow from operating activities is -114,030,002.63, an improvement from -182,082,801.96 in the previous period, indicating a reduction in cash burn[72] - The company recorded a cash flow from investment activities of -10,333,914.49, an improvement from -23,091,236.46 in the previous period, indicating a reduction in cash outflow from investments[72] - The cash inflow from the disposal of subsidiaries and other business units was $26,000,000.00[78] Shareholder Information - The top shareholder, Wang Changchun, holds 14.95% of the shares, totaling 107,882,344 shares[11] - Tencent holds 6.66% of the shares, amounting to 48,082,500 shares[11] Operational Highlights - Other receivables increased by 33.52% to 32.18 million yuan, mainly due to increased performance guarantees and deposits[21] - Inventory rose by 42.41% to 489.04 million yuan, primarily due to increased performance costs for unaccepted projects[21] - Development expenses surged by 82.24% to 32.63 million yuan, driven by new R&D investments[21] - Financial expenses increased by 173.51% to 636,972.06 yuan, attributed to exchange rate fluctuations[21] - Other income rose by 423.09% to 6.74 million yuan, mainly due to increased government subsidies received[21] - Investment income reached 3.56 million yuan, a significant increase of 503.84% due to the disposal of a subsidiary[21] - Research and development expenses for Q1 2021 were CNY 24,419,266.75, down 12.5% from CNY 27,786,204.40 in the same period last year[53] Future Outlook - The company plans to expand its market presence and invest in new technologies to enhance product offerings in the upcoming quarters[39] - The company is focusing on improving its receivables management to reduce the accounts receivable turnover days in the future[39]

Financial Performance - Operating revenue for the reporting period was CNY 278,308,690.54, an increase of 30.28% year-on-year[7] - Net profit attributable to shareholders of the listed company was CNY 31,426,534.53, up 106.61% compared to the same period last year[7] - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 30,373,770.06, an increase of 112.18% year-on-year[7] - Basic earnings per share were CNY 0.0444, an increase of 22.65% year-on-year[7] - Diluted earnings per share were CNY 0.0437, an increase of 24.50% compared to the same period last year[7] - The weighted average return on net assets was 2.72%, an increase of 1.55% year-on-year[7] - The company reported a profit margin of approximately 11.4% for the current period, up from 7.0% in the previous period[53] - Net profit for the current period was ¥34,648,641.16, compared to ¥24,587,696.67 in the previous period, representing an increase of approximately 41.9%[67] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,948,695,724.82, a decrease of 11.21% compared to the end of the previous year[7] - Total liabilities increased from CNY 696,460,131.61 to CNY 767,621,471.87, reflecting a growth of around 10.2%[37] - Owner's equity decreased from CNY 1,498,333,065.26 to CNY 1,181,074,252.95, a decline of about 21.2%[40] - Total assets decreased from CNY 2,194,793,196.87 to CNY 1,948,695,724.82, a decline of approximately 11.2%[40] - Current liabilities rose from CNY 513,807,904.55 to CNY 660,921,547.83, an increase of approximately 28.7%[37] - The total liabilities decreased from ¥1,484,090,178.04 to ¥950,401,647.01, a reduction of 36.0%[47] Cash Flow - The net cash flow from operating activities was CNY -8,729,636.33, a decrease of 70.91% compared to the previous year[7] - The company reported a net cash flow from financing activities of CNY 31,484,109.61, a decrease of 90.33% compared to CNY 325,487,409.45 from the previous year[24] - Cash and cash equivalents dropped significantly from CNY 552,349,690.69 to CNY 231,675,627.25, a decrease of approximately 58.1%[41] - Cash inflow from financing activities was $360.69 million, significantly lower than $1.06 billion in the previous period, a decrease of 66%[90] - Cash outflow from financing activities was $408.44 million, compared to $849.60 million in the previous period, a reduction of 52%[90] Investments and Expenses - The company received government subsidies amounting to CNY 7,927,719.02 during the reporting period[7] - Research and development expenses rose to ¥47,645,654.53, compared to ¥41,689,831.74, marking an increase of 14.0%[50] - The company reported a loss from investment income of CNY -2,407,912.49, a decline of 253.90% compared to CNY 1,564,583.62 from the previous year[24] - Financial expenses for the period were ¥10,027,272.94, compared to ¥9,175,774.55 in the previous period[67] - The company experienced a significant increase in income tax expenses, rising by 447.47% to CNY 10,041,982.60 from CNY 1,834,253.35 due to increased profitability of subsidiaries[24] Changes in Financial Position - Accounts receivable dropped by 69.63% to CNY 276,965,609.05 from CNY 911,922,444.92, attributed to adjustments in the new revenue recognition standards[21] - Inventory surged by 27,427.87% to CNY 561,280,153.27 from CNY 2,038,952.71, resulting from changes in revenue recognition methods[21] - Long-term equity investments increased by 1,722.40% to CNY 3,339,209.11 from CNY 183,231.39 due to additional investments in joint ventures[21] - The company’s long-term equity investments increased from CNY 693,437,804.34 to CNY 714,644,800.75, an increase of approximately 3.0%[44] - The company has implemented new revenue recognition standards since January 1, 2020, affecting various financial statement items[1] Shareholder Information - Net assets attributable to shareholders of the listed company were CNY 1,170,617,321.81, down 21.29% from the previous year[7] - The total number of restricted shares at the end of the period was 138,231,411 shares, with a decrease of 1,235,925 shares during the period[18] - The company has no significant non-operating fund occupation by controlling shareholders or related parties during the reporting period[26]

Financial Performance - The company reported a revenue of RMB 300 million for the first half of 2020, representing a year-on-year increase of 15%[18]. - The net profit attributable to shareholders was RMB 50 million, up 20% compared to the same period last year[18]. - The company's operating revenue for the reporting period was ¥370,643,910.11, a decrease of 28.80% compared to the same period last year[27]. - The net profit attributable to shareholders was ¥2,669,091.39, reflecting a decline of 69.20% year-on-year[27]. - The net profit after deducting non-recurring gains and losses was -¥2,944,729.85, a decrease of 156.77% compared to the previous year[27]. - The total assets at the end of the reporting period were ¥1,910,773,249.53, down 12.94% from the end of the previous year[27]. - The net assets attributable to shareholders decreased by 23.19% to ¥1,142,415,363.94 compared to the previous year[27]. - The cash flow from operating activities was -¥195,786,108.92, showing a slight increase of 0.63% compared to the previous year[27]. - The company reported a revenue increase of 24% year-over-year for the first half of 2020[115]. - The company reported a revenue of 1.5 billion RMB for the first half of 2020, representing a year-over-year increase of 20%[139]. User Growth - User data showed an increase in active users by 25%, reaching a total of 1.5 million users[18]. - User data showed a growth in active users, reaching 25 million, which is a 30% increase compared to the previous year[116]. - User data showed an increase in active users by 15% compared to the previous year, reaching 2 million active users[139]. Research and Development - The company plans to invest RMB 100 million in new product development and technology research in the next fiscal year[18]. - In the first half of 2020, the company's R&D investment accounted for approximately 25.61% of its revenue, reinforcing its product and technological advantages[43]. - Research and development expenses increased by 21.42% to CNY 94.92 million, reflecting the company's commitment to enhancing existing products and developing new technologies[52]. - Investment in R&D increased by 30% year-over-year, focusing on new technologies and product innovations[139]. - The company plans to continue investing in R&D to enhance its enterprise-level distributed service platform and other technologies as part of its "Changliang Technology 2.0" development strategy[51]. Market Expansion - The company is expanding its market presence in Southeast Asia, targeting a 30% increase in market share by the end of 2021[18]. - The company is expanding its market presence in Southeast Asia, targeting a 20% market share by 2022[120]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2021[139]. Strategic Initiatives - The company is exploring potential mergers and acquisitions to enhance its technological capabilities[18]. - The company is considering strategic acquisitions to bolster its product offerings and market reach[122]. - A strategic acquisition of a local tech firm is anticipated to enhance the company's product offerings and market reach[139]. Operational Efficiency - The company has implemented new strategies to improve operational efficiency, aiming for a 5% reduction in operational costs[18]. - A new technology platform is set to launch in Q4 2020, anticipated to improve operational efficiency by 25%[123]. - The company aims to reduce operational costs by 15% through process optimization initiatives[124]. Risks and Challenges - Risks identified include market competition and potential impacts from the COVID-19 pandemic[6]. - The COVID-19 pandemic has impacted business expansion, particularly affecting overseas subsidiaries, with risks still present in the latter half of the year[102]. Shareholder Returns - No cash dividends will be distributed to shareholders for this fiscal year[7]. - The commitment to shareholder returns remains strong, with plans to increase dividends by 5% in the upcoming fiscal year[125]. - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[107]. Awards and Recognition - The company has been recognized as one of the "Top 50 Most Innovative Companies in China" by Forbes in 2020, reflecting its strong market reputation[43]. - The company won three awards at the "2020 Financial Data Intelligence Excellent Solution Evaluation," highlighting its advanced intelligent risk control solutions[42]. Financial Management - The company reported a government subsidy of ¥6,688,047.87, contributing positively to its financial performance[34]. - The company has not engaged in any entrusted financial management or derivative investments during the reporting period[90][91]. - The company did not engage in any significant environmental protection issues as it is a software enterprise and not classified as a major pollutant by environmental authorities[182]. Stock and Shares - The total number of shares increased to 722,715,403 after a capital reserve conversion of 5 shares for every 10 shares held[193]. - The company distributed a cash dividend of 0.12 RMB per share (including tax) based on a total share capital of 481,810,269 shares[193]. - The total number of limited shares at the end of the period was 85,411,629, with significant unlocks occurring for key executives[196]. - The total number of shares held by major shareholders with over 5% ownership reached 39,264, with Wang Changchun holding 14.93% of shares, amounting to 107,882,344 shares[200].

Financial Performance - The company's operating revenue for Q1 2021 was ¥169,993,782.61, a decrease of 6.62% compared to ¥182,036,877.16 in the same period last year[8] - Net profit attributable to shareholders was ¥11,946,751.56, representing a significant increase of 556.39% from ¥1,820,061.10 in the previous year[8] - The net profit after deducting non-recurring gains and losses was ¥3,484,779.30, up 334.23% from ¥802,517.36 year-on-year[8] - The basic earnings per share increased to ¥0.0168, a rise of 250.00% compared to ¥0.0048 in the same period last year[8] - The diluted earnings per share reached ¥0.0166, reflecting a growth of 260.87% from ¥0.0046 in the previous year[8] - The company reported a net profit of CNY 261.79 million as of March 31, 2021, compared to CNY 249.84 million at the end of 2020, indicating an increase of approximately 4.8%[43] - The company achieved an investment income of CNY 3,559,374.29 in Q1 2021, a recovery from a loss of CNY 881,382.01 in Q1 2020[53] Cash Flow and Liquidity - The net cash flow from operating activities improved to -¥114,030,002.63, a 37.37% improvement from -¥182,082,801.96 year-on-year[8] - Cash inflow from operating activities totaled 190,056,185.64, compared to 116,421,423.69 in the previous period, showing a significant increase[72] - Cash outflow from operating activities was 304,086,188.27, slightly higher than 298,504,225.65 in the previous period[72] - The net cash flow from operating activities was -114,030,002.63, an improvement from -182,082,801.96 in the previous period[72] - Cash and cash equivalents at the end of the period amounted to 346,756,529.81, compared to 312,711,376.29 at the end of the previous period[74] - The company received cash from sales of goods and services totaling 182,697,470.53, up from 112,036,475.24 in the previous period[68] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,042,667,865.32, a slight decrease of 0.01% from ¥2,042,805,496.90 at the end of the previous year[8] - Total liabilities decreased from CNY 659.31 million to CNY 646.20 million, reflecting a reduction of about 2%[40] - The total current assets amounted to approximately CNY 1.43 billion, showing a slight increase from CNY 1.42 billion at the end of 2020[34] - The total non-current assets decreased from CNY 625.90 million to CNY 613.68 million, a decline of approximately 1.8%[37] - The total liabilities as of Q1 2021 amounted to CNY 1,009,011,667.37, down from CNY 1,156,718,473.37 in the previous year[50] Shareholder Information - Net assets attributable to shareholders increased to ¥1,385,111,610.77, up 0.93% from ¥1,372,346,713.06 at the end of the previous year[8] - The total number of ordinary shareholders at the end of the reporting period was 45,679[12] - The company’s total equity remained unchanged at ¥1,383,495,756.59, indicating stability in shareholder value[84] Operational Highlights - The company received government subsidies amounting to ¥5,545,067.30 during the reporting period[8] - Development expenses surged by 82.24% to CNY 32.63 million, driven by new R&D investments[22] - The company has allocated CNY 32.63 million for development expenditures, which is an increase from CNY 17.91 million in the previous period, reflecting a focus on innovation[37] - The company has no significant changes in its core technology team or major risks affecting future operations during the reporting period[25] - The company plans to expand its market presence and invest in new product development to drive future growth[39] Inventory and Receivables - Inventory rose by 42.41% to CNY 489.04 million, mainly due to increased performance costs for unaccepted projects[22] - Accounts receivable decreased from CNY 475.41 million to CNY 459.73 million, indicating a reduction of approximately 3.4%[34] - Other receivables increased by 33.52% to CNY 32.18 million, primarily due to increased performance guarantees and deposits[22] Compliance and Standards - The company recognized right-of-use assets and lease liabilities totaling CNY 5.78 million due to the implementation of new leasing standards[22] - The implementation of the new leasing standard resulted in an increase of ¥2.92 million in right-of-use assets and lease liabilities[91] - The first quarter report for 2021 was not audited[92]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the fiscal year 2020, representing a year-on-year growth of 15%[24]. - The company's operating revenue for 2020 was ¥1,550,839,809.39, representing an increase of 18.28% compared to ¥1,311,125,161.56 in 2019[5]. - The net profit attributable to shareholders for 2020 was ¥236,831,481.54, a significant increase of 71.71% from ¥137,926,045.87 in 2019[5]. - The company reported a net profit of RMB 300 million, a 25% increase compared to the previous year[24]. - The gross profit margin improved to 40%, up from 35% in the previous year, indicating better cost management[24]. - The company provided a performance guidance for 2021, expecting a revenue growth of 10% to 15%[24]. - The company achieved operating revenue of CNY 1,550.84 million, a year-on-year increase of 18.28%[67]. - The net profit attributable to shareholders was CNY 236.83 million, representing a year-on-year growth of 71.71%[67]. - The company’s total liabilities were CNY 659.31 million, down 5.33% from the end of the previous year[67]. - The company’s management expenses decreased by 14.71% year-on-year to CNY 207.13 million[67]. Business Strategy and Development - The company aims to integrate and restructure its business and technology, focusing on distributed and cloud-based solutions[11]. - The five-year strategic plan will prioritize core competitiveness, innovation, and the acceptance of mistakes as part of the growth process[16]. - The company recognizes the dual nature of current strategic opportunities and risks, positioning itself to become a leader in the global fintech sector[16]. - The company plans to optimize and restructure its business to strengthen its market position and product offerings[49]. - The company aims to leverage its long-standing product accumulation to capture market opportunities in the growing financial technology landscape[49]. - The company is actively expanding its overseas business, particularly in Southeast Asia, by promoting cloud banking solutions and exploring new SaaS business models for digital banking transformation[172]. - The company is considering strategic acquisitions to enhance its service offerings, with a budget of RMB 300 million allocated for potential deals[24]. Research and Development - The company is investing RMB 200 million in R&D for new technologies, focusing on AI and big data analytics[24]. - In 2020, the company's R&D investment accounted for approximately 11.60% of its revenue, maintaining over 10% for several consecutive years, which contributed to its technological leadership in the financial technology sector[58]. - Research and development investment amounted to CNY 180 million, accounting for 11.60% of operating revenue[67]. - The company has developed a proprietary product system with over 320 software copyrights and has passed various management system certifications, ensuring its independence and security in the financial technology space[63]. Market Expansion and User Growth - User data showed an increase in active users by 20% year-on-year, reaching 5 million users by the end of 2020[24]. - Market expansion plans include entering two new Southeast Asian countries by the end of 2021, aiming for a 10% market penetration[24]. - The company has expanded its international presence, providing key technology services to commercial banks in countries such as Thailand, Malaysia, and the Philippines, and has established strategic partnerships with Huawei Cloud[63]. Financial Health and Cash Flow - The net cash flow from operating activities for 2020 was ¥141,328,743.99, an increase of 29.86% compared to ¥108,827,939.16 in 2019[5]. - Operating cash inflow for 2020 was CNY 1,388,436,834.81, a year-on-year increase of 17.52% compared to CNY 1,181,480,933.89 in 2019[129]. - The company's cash and cash equivalents at the end of 2020 amounted to CNY 487,461,032.94, accounting for 23.86% of total assets[133]. - Accounts receivable increased to CNY 475,413,133.21, representing 23.27% of total assets, up from 17.97% in the previous year[133]. Dividend Distribution - The company plans to distribute a cash dividend of 0.7 yuan per 10 shares, based on a total of 721,479,478 shares[6]. - The total distributable profit for the year was RMB 219,521,699.71, with cash dividends accounting for 100% of the profit distribution[186]. - The cash dividend for 2020 represents 21.32% of the net profit attributable to ordinary shareholders of the listed company[187]. Technology and Innovation - The company's technology architecture is based on self-developed Spring Boot and Spring Cloud, enhancing service granularity and operational efficiency[52]. - The company emphasizes the importance of domestic database replacement in the digital transformation of banks, with a focus on migrating core data platforms and optimizing models[55]. - The company aims to enhance its innovative technology services based on solutions, with increased investment planned for 2021 to empower financial institutions[58]. Awards and Recognition - The company won the "2020 China Most Innovative Enterprises TOP 50" award by Forbes and was recognized as the "Most Innovative Financial Technology Company in Asia" by a global brand magazine[58]. - The company has received multiple awards for its financial technology solutions, including the "2020 Financial Data Intelligent Risk Control Innovation Excellent Solution Award" from the China Banking Association[63]. Risk Management - The company acknowledges product development risks due to uncertainties in innovation and market demands, but leverages management's extensive industry experience to mitigate these risks[172]. - The company faces market competition risks from various players in the financial technology sector, necessitating continuous monitoring and innovation to maintain a leading position[172].

Financial Performance - Operating revenue for the reporting period was CNY 281,376,241.54, an increase of 31.71% year-on-year[8] - Net profit attributable to shareholders increased by 132.14% to CNY 35,310,008.46[8] - Net profit attributable to shareholders after deducting non-recurring gains and losses rose by 139.13% to CNY 34,232,595.81[8] - Basic earnings per share increased by 39.78% to CNY 0.0506[8] - The company reported a net loss in other comprehensive income of ¥4,950,515.81 compared to a loss of ¥3,571,554.88, highlighting increased financial challenges[41] - Total operating revenue for the current period reached ¥281,376,241.54, an increase of 31.7% compared to ¥213,625,442.49 in the previous period[48] - Net profit for the current period was ¥35,521,864.94, representing a 135.1% increase from ¥15,050,754.90 in the previous period[54] - The company reported a total comprehensive income of ¥32,632,143.82, up from ¥19,542,417.09 in the previous period[57] - The company reported a profit before tax of ¥76,365,411.22, an increase from ¥26,421,950.02 in the previous period[68] - The total comprehensive income for the period was ¥61,466,576.51, compared to ¥32,186,484.09 in the previous period[72] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,946,073,075.91, a decrease of 11.33% compared to the end of the previous year[8] - The company's cash and cash equivalents decreased by 51.36% to ¥306,065,084.98 from ¥629,291,507.61 in the previous period[22] - Accounts receivable dropped by 69.58% to ¥277,364,374.91 from ¥911,922,444.92 due to adjustments in the new revenue recognition standards[22] - Inventory surged by 27,096.31% to ¥554,519,826.53 from ¥2,038,952.71, attributed to changes in accounting methods under the new revenue standards[22] - Long-term equity investments increased by 1,722.40% to ¥3,339,209.11 from ¥183,231.39, reflecting additional investments in joint ventures[22] - The company’s total liabilities decreased significantly, with accounts payable down by 49.96% to ¥14,294,548.37 from ¥28,569,008.45[22] - Current liabilities increased to ¥653,366,962.63 from ¥513,807,904.55, indicating higher short-term obligations[38] - Total liabilities increased to ¥760,066,886.67 from ¥696,460,131.61, reflecting a rise in overall debt[38] - Owner's equity decreased to ¥1,186,006,189.24 from ¥1,498,333,065.26, indicating a decline in shareholder value[41] - The total equity of the company was ¥1,091,068,861.89, slightly down from ¥1,121,361,412.88 in the previous period[48] Cash Flow - The net cash flow from operating activities was negative CNY 8,729,636.33, a decrease of 70.91% year-on-year[8] - Cash flow from operating activities showed a net outflow of ¥204,515,745.25, an improvement from a net outflow of ¥224,569,273.66 in the previous period[82] - Cash flow from investing activities resulted in a net outflow of ¥52,482,585.65, compared to a net outflow of ¥47,012,114.84 previously[85] - Cash inflow from financing activities was approximately $360.69 million, a significant decrease from $1.06 billion in the previous period, reflecting a decline of about 66%[91] - The net cash flow from financing activities was negative at approximately -$47.75 million, compared to a positive $210.37 million in the prior period[91] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 49,644[12] - The largest shareholder, Wang Changchun, held 14.95% of the shares, totaling 107,882,344 shares[12] - The company has no overdue commitments from major shareholders or related parties during the reporting period[27] - There were no significant changes in the company's cash dividend policy during the reporting period[26] Research and Development - Research and development expenses rose to ¥47,645,654.53, an increase of 14.5% compared to ¥41,689,831.74 in the previous period[51] - Research and development expenses increased significantly to ¥33,871,214.96, compared to ¥15,901,227.80, marking a 113% rise[76] Accounting Changes - The company has adopted new revenue recognition standards effective from January 1, 2020, impacting various financial metrics[113] - The company executed a reclassification of contract liabilities, increasing them by 311,092,682.62 yuan, in line with new revenue recognition standards[112]

Financial Performance - The company reported a revenue of RMB 300 million for the first half of 2020, representing a year-on-year increase of 15%[1] - The net profit attributable to shareholders was RMB 50 million, up 10% compared to the same period last year[1] - The company's operating revenue for the reporting period was ¥420,061,443.01, a decrease of 19.31% compared to the same period last year, which was ¥520,580,673.76[25] - The net profit attributable to shareholders of the listed company was ¥26,845,764.24, representing a significant increase of 209.82% from ¥8,664,890.99 in the previous year[25] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥21,125,848.26, up 307.27% from ¥5,187,246.90 year-on-year[25] - The basic earnings per share increased by 43.33% to ¥0.0387 from ¥0.0270 in the previous year[25] - The diluted earnings per share rose by 46.54% to ¥0.0381 from ¥0.0260 in the previous year[25] - The weighted average return on equity was 2.50%, an increase of 1.80% compared to 0.70% in the previous year[25] - The company reported a net cash outflow from operating activities of CNY -195.79 million, a slight increase of 0.63% compared to the previous year[54] - The company’s management expenses were CNY 76.17 million, down 32.24% year-on-year, mainly due to a significant reduction in stock incentive expenses[50] Research and Development - The company plans to invest 20% of its revenue into research and development for new technologies and products in the upcoming year[1] - In the first half of 2020, the company's R&D investment accounted for approximately 22.60% of its revenue, reinforcing its product and technological advantages[42] - Research and development expenses increased by 21.42% to CNY 94.92 million, reflecting the company's commitment to enhancing existing products and developing new technologies[54] - The company has implemented a long-term R&D strategy to ensure product competitiveness and market leadership[98] Market Strategy and Expansion - The company has outlined a market expansion strategy targeting Southeast Asia, aiming for a 30% market share in the region by 2022[1] - The company is exploring potential mergers and acquisitions to enhance its technological capabilities and market presence[1] - The company has successfully expanded its services to international markets, including projects in Malaysia, Indonesia, and Thailand, establishing itself as a multinational financial information service group[46] User Engagement and Market Demand - User data showed an increase in active users by 25%, reaching a total of 1.5 million users by June 30, 2020[1] - The company has signed multiple contracts with financial institutions, including Postal Savings Bank and Ningbo Bank, indicating robust market demand for its solutions[46] Awards and Recognition - The company won three awards at the "Second Financial Data Intelligence Excellent Solution Evaluation," highlighting its advanced intelligent risk control solutions[41] - The company has been recognized as one of the "Top 50 Most Innovative Companies in China" by Forbes in 2020, reflecting its strong market recognition[42] Financial Position and Assets - Total assets at the end of the reporting period were ¥1,907,847,322.73, a decrease of 13.07% from ¥2,194,793,196.87 at the end of the previous year[25] - The net assets attributable to shareholders of the listed company were ¥1,143,881,263.74, down 23.09% from ¥1,487,329,627.34 at the end of the previous year[25] - Cash and cash equivalents at the end of the reporting period amounted to ¥322,426,377.41, representing 16.90% of total assets, a decrease of 16.74% compared to the previous year[62] - Accounts receivable totaled ¥311,194,750.83, accounting for 16.31% of total assets, down 23.01% year-over-year due to adjustments in the new revenue recognition standards[62] - Inventory increased to ¥493,342,378.17, making up 25.86% of total assets, a significant rise of 25.76% compared to the previous year[62] Corporate Governance and Compliance - The company has not made any changes to its registered information during the reporting period[1] - The company has not reported any significant changes in the measurement attributes of major assets during the reporting period[64] - The company has not engaged in any entrusted financial management during the reporting period[87] - The company did not sell any significant assets during the reporting period[90] - The company has established a commitment to not engage in any business that competes with its own products or services[134] - The company will comply with the market principles of fairness and transparency in all related party transactions[120] Shareholder Information - The total number of shares increased from 481,810,269 to 722,715,403 after the capital reserve conversion and stock dividend distribution[184] - The company distributed a cash dividend of 0.12 RMB per 10 shares, totaling approximately 57,817,000 RMB based on the total shares[187] - The number of restricted shares decreased by 59,831,658, resulting in a total of 141,650,543 restricted shares at the end of the reporting period[192] - The company unlocked 13,847,919 shares from the equity incentive plan during the reporting period[192] - The shareholder structure indicates a concentration of ownership among a few key stakeholders[194]

Financial Performance - Total revenue for Q1 2020 was ¥182,036,877.16, a decrease of 5.95% compared to ¥193,551,691.09 in the same period last year[8]. - Net profit attributable to shareholders was ¥1,820,061.10, down 72.68% from ¥6,662,778.11 year-on-year[8]. - Net profit excluding non-recurring gains and losses was ¥802,517.36, a decline of 87.45% from ¥6,395,052.76 in the previous year[8]. - Basic earnings per share decreased by 76.81% to ¥0.0048 from ¥0.0207 in the same period last year[8]. - The company's operating revenue for the reporting period was 185.20 million yuan, a decrease of 8.35 million yuan compared to the same period last year, representing a decline of approximately 4.31%[23]. - The net profit attributable to shareholders of the listed company was 1.71 million yuan, down 495.16 thousand yuan year-on-year, reflecting a decrease of about 74.38%[23]. - Net profit for the current period is CNY 2,225,115.73, a decline of 67.7% compared to CNY 6,893,239.16 in the previous period[73]. - The company reported a total comprehensive income of -¥3,565,083.84, compared to -¥4,729,757.43 in the previous period[82]. Cash Flow and Liquidity - Net cash flow from operating activities was -¥182,082,801.96, representing a 76.04% increase in cash outflow compared to -¥131,980,638.53 last year[8]. - Cash and cash equivalents decreased by 49.32% to 318.96 million yuan from 629.29 million yuan in the previous year, primarily due to reduced cash inflows amid the pandemic[22]. - Cash flow from operating activities was -¥182,082,801.96, compared to -¥131,980,638.53 in the previous period[86]. - Cash received from sales and services was ¥112,036,475.24, an increase from ¥102,356,115.90[86]. - The net cash flow from financing activities was -$2,492,686.88, compared to -$8,112,104.63 in the previous period, indicating an improvement[91]. - The total cash and cash equivalents at the beginning of the period were $523,502,504.45, down from $545,829,916.42[91]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,949,634,076.95, down 11.17% from ¥2,194,793,196.87 at the end of the previous year[8]. - Total current assets decreased from ¥1,575,709,008.92 to ¥903,766,649.61, a decline of approximately 42.7%[49]. - Total non-current assets increased from ¥619,084,187.95 to ¥1,045,867,427.34, an increase of approximately 68.9%[52]. - Total liabilities increased from ¥696,460,131.61 to ¥874,907,911.99, an increase of approximately 25.6%[55]. - Total equity attributable to shareholders decreased from ¥1,487,329,627.34 to ¥1,064,754,487.39, a decline of about 28.4%[58]. - The company reported a significant reduction in short-term borrowings from CNY 180,000,000.00 to CNY 80,000,000.00, reflecting a strategy to lower debt levels[65]. Investments and Expenditures - Long-term equity investments increased by 501.34% to 1.10 million yuan, driven by increased investments in joint ventures[22]. - Development expenditures rose by 35.85% to 82.71 million yuan, indicating a significant increase in R&D investment[22]. - The company plans to issue convertible bonds totaling no more than 500 million yuan, with the application for approval accepted by the China Securities Regulatory Commission[26]. - The company has achieved a cumulative benefit of 265.09 million from the projects by the end of the reporting period[31]. - The investment in the "Enterprise Value Accounting and Management Construction Project" reached 996.16 million, with 70.83% of the investment completed[31]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 40,678[12]. - The largest shareholder, Wang Changchun, holds 14.93% of the shares, totaling 71,921,563 shares[12]. Strategic Initiatives - The company has achieved a normal level of resumption of work and is actively promoting project implementation to mitigate the impact of the pandemic[23]. - The company is focusing on market expansion and new product development as part of its strategic initiatives[69].

Business Performance - The company reported its first overseas business profitability in 2019, marking a successful entry into Southeast Asia's banking sector, breaking the dominance of Western technology giants [9]. - The company's operating revenue for 2019 was CNY 1,311,125,161.56, representing a 20.56% increase from CNY 1,087,496,802.95 in 2018 [28]. - The net profit attributable to shareholders for 2019 was CNY 137,926,045.87, a significant increase of 144.32% compared to CNY 56,454,112.92 in 2018 [28]. - The net cash flow from operating activities was CNY 108,827,939.16, a remarkable increase of 504.75% compared to CNY 17,995,400.04 in 2018 [28]. - The total assets at the end of 2019 amounted to CNY 2,194,793,196.87, reflecting a 20.39% increase from CNY 1,823,052,637.57 at the end of 2018 [28]. - The net assets attributable to shareholders increased by 20.86% to CNY 1,487,329,627.34 from CNY 1,230,671,814.67 in 2018 [28]. - The basic earnings per share for 2019 were CNY 0.3028, up 147.39% from CNY 0.1224 in 2018 [28]. - The diluted earnings per share increased by 158.96% to CNY 0.2947 from CNY 0.1138 in the previous year [28]. - The weighted average return on equity for 2019 was 10.16%, an increase of 5.66% compared to 4.50% in 2018 [28]. - The company reported a quarterly revenue of CNY 576,919,045.31 in Q4 2019, contributing significantly to the annual growth [32]. Profit Distribution - The profit distribution plan approved by the board proposes a cash dividend of 0.12 RMB per 10 shares, with a capital reserve conversion of 5 shares for every 10 shares held [5]. - The total number of shares for the profit distribution plan is based on 481,810,269 shares [5]. - The company reported a distributable profit of ¥89,578,894.82 for the year [185]. - The total cash dividend distributed, including other methods, accounted for 100.00% of the profit distribution [185]. - In 2019, the cash dividend amount was ¥5,781,723.23, representing 4.19% of the net profit attributable to ordinary shareholders [188]. Innovation and R&D - The company emphasizes continuous innovation as a core principle, which has been integral to its success in the financial technology sector [9]. - The company has made significant advancements in big data, positioning itself as a leader in the industry [8]. - The company's R&D investment exceeded 10% of its revenue in 2019, reinforcing its technological and product advantages in the financial technology sector [58]. - The company is committed to maintaining long-term core competitiveness through significant R&D investments and continuous innovation [99]. - R&D investment in 2019 amounted to ¥198,733,630.98, representing 15.16% of operating revenue, an increase from 13.31% in 2018 [101]. - The number of R&D personnel increased to 974 in 2019, accounting for 23.35% of the total workforce, down from 25.85% in 2018 [101]. Market Expansion - The company has successfully completed a zero-to-one process in overseas markets over three years, establishing itself as a leader in providing Chinese core solutions [9]. - In 2019, the company achieved overseas revenue of 150.29 million yuan, representing a year-on-year growth of 134.56%, marking a significant milestone in its international expansion strategy [62]. - The company has expanded its overseas business since 2015, establishing a presence in Hong Kong, acquiring companies in Malaysia and Singapore, and increasing its stake in Indonesia to 70% [169][171]. - The company has positioned itself to meet the growing demand for banking information systems in Southeast Asia, with large commercial banks requiring investments exceeding $20 million for information technology upgrades [171]. Risk Management - The company acknowledges potential risks in market competition, talent retention, and product development, urging investors to consider these factors [5]. - The company has maintained a talent retention policy, with over 90% of its workforce being technical and R&D personnel, to mitigate risks associated with talent turnover [173]. - The company faces competition from both traditional financial technology firms and emerging internet companies, necessitating ongoing innovation and technological advancement [172]. Strategic Partnerships - The company has formed a strategic partnership with Tencent Cloud to launch a new generation distributed financial service framework, enhancing system construction models for financial clients [166]. - The company is a member of the Huawei Kunpeng Intelligent Data Alliance, collaborating on the development of a financial data warehouse solution to support clients' data management needs [51]. Financial Health - The net cash flow from financing activities decreased by 126.67% in 2019 compared to 2018, mainly due to increased repayment efforts [129]. - The company's cash and cash equivalents amounted to ¥629,291,507.61, representing 28.67% of total assets, a decrease of 1.39% from the beginning of the year [134]. - Accounts receivable increased to ¥911,922,444.92, accounting for 41.55% of total assets, an increase of 3.17% compared to the beginning of the year [134]. Product Development - The company has developed a comprehensive data governance system for the People's Bank of China, enhancing data quality and security across core areas [51]. - The company has pioneered internet banking transformation solutions, enabling traditional banks to adapt to the fast-paced digital landscape [54]. - The company is focusing on developing a distributed service platform and an open banking service platform to enhance market competitiveness [100]. Acquisitions - The company acquired an 85% stake in COMET WAVE for ¥2,350,203.52, contributing ¥3,836,972.45 in revenue since acquisition [88]. - The company also acquired 100% of Tianyang Dayou for ¥3,507,000.00, which reported a net loss of ¥494,495.56 [91].