证券代码：300386 证券简称：飞天诚信 1 飞天诚信科技股份有限公司投资者关系活动记录表 编号：2017-001 | --- | --- | --- | |----------------|-----------------------------------|--------------------------------------------------| | | | | | 投资者关系活动 | √ 特定对象调研 □分析师会议 | | | 类别 | □ 媒体采访 □业绩说明会 | | | | □ 新闻发布会 □路演活动 | | | | □ 现场参观 | | | | □ 其他 （请文字说明其他活动内容） | | | 参与单位名称及 | 聚睿投资：汲亚飞、陈俊良 | 康曼德资本：段桂培 | | 人员姓名 | 太平洋证券：徐中华、张际 | 东吴证券：朱悦如 | | | 李冰桓 | 兴全基金：陆士杰 | | | 鑫舵资产：杨西媛 | 中银国际证券：谭鹏鹏 | | | 睿盟投资：杨湘云 | 新华汇嘉投资：高晗 | | | 信达证券：边铁城、袁海宁 | 神农投资：刘 奇 | | | 周 皓 | 海通证券：谢春生 ...

Financial Performance - The company's revenue for Q3 2022 was ¥227,106,192.92, representing a 4.42% increase year-over-year, while the year-to-date revenue reached ¥625,099,525.55, up 17.04% compared to the same period last year[5]. - The net profit attributable to shareholders for Q3 2022 was a loss of ¥23,697,300.26, a decrease of 93.47% year-over-year, with a year-to-date loss of ¥47,063,048.06, down 23.10% compared to the previous year[5]. - The basic and diluted earnings per share for Q3 2022 were both -¥0.0600, marking a 100% decrease year-over-year[5]. - The net profit for the current period was a loss of ¥47,029,693.73, compared to a loss of ¥37,445,520.26 in the same period last year, reflecting a deterioration in performance[19]. - The company reported a total comprehensive loss of ¥41,245,080.04, slightly worse than the loss of ¥40,074,002.18 in the prior year[20]. - Basic and diluted earnings per share were both reported at -¥0.11, compared to -¥0.09 in the previous period[20]. Assets and Liabilities - The total assets at the end of Q3 2022 were ¥2,023,926,677.62, a decrease of 0.73% from the end of the previous year[5]. - The company's total current assets as of September 30, 2022, amount to ¥1,210,243,319.33, a decrease from ¥1,354,624,616.64 at the beginning of the year[14]. - Total liabilities as of September 30, 2022, are ¥232,985,818.08, up from ¥206,627,869.35 at the beginning of the year[15]. - The company's total assets amount to ¥2,023,926,677.62, slightly down from ¥2,038,813,808.93[16]. - The total equity attributable to shareholders decreased from ¥1,813,891,902.40 to ¥1,784,123,358.52[16]. Cash Flow - The cash flow from operating activities showed a net outflow of ¥255,613,261.02 year-to-date, a decrease of 58.17% compared to the previous year[5]. - The cash flow from operating activities showed a net outflow of ¥255,613,261.02, worsening from a net outflow of ¥161,607,070.67 in the previous period[20]. - Cash and cash equivalents decreased from ¥720,262,648.65 to ¥437,350,923.26 during the same period[14]. - Cash and cash equivalents at the end of the period were ¥434,626,589.49, down from ¥697,381,571.55 at the end of the previous period[21]. - Investment activities resulted in a net cash outflow of ¥23,611,902.46, a significant decrease from a net inflow of ¥105,463,469.68 in the prior period[21]. Operational Metrics - Accounts receivable increased by 64.37% year-over-year, reaching ¥152,342,392.50, primarily due to outstanding payments from customers[9]. - Inventory rose by 30.73% year-over-year to ¥425,704,435.81, attributed to an increase in raw materials[9]. - The company reported a significant increase in prepayments, which rose by 152.97% year-over-year to ¥84,287,620.46, mainly due to advanced payments for smart terminal product purchases[9]. - The company experienced a 52.27% increase in cash paid for goods and services, totaling ¥566,971,713.65, primarily due to higher procurement costs for smart terminal products[9]. - The company recorded a loss of ¥1,712,357.37 in investment income, a decrease of 135.43% year-over-year, mainly due to losses from equity disposals[9]. - Research and development expenses increased to ¥85,071,913.07, representing a 26.3% rise from ¥67,361,578.34 year-over-year[17]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 34,736[12]. - The largest shareholder, Huang Yu, holds 30.31% of shares, totaling 126,700,046 shares[12].

Financial Performance - The company's operating revenue for the first half of 2022 was ¥397,993,332.63, representing a 25.70% increase compared to ¥316,616,895.51 in the same period last year[27]. - The net loss attributable to shareholders was ¥23,365,747.80, an improvement of 10.07% from a loss of ¥25,982,799.98 in the previous year[27]. - The net cash flow from operating activities was -¥260,145,797.32, a decline of 51.65% compared to -¥171,545,896.09 in the same period last year[27]. - The company's revenue for the reporting period reached ¥397,993,332.63, representing a year-on-year increase of 25.7% primarily due to the growth in smart terminal product sales[51]. - Operating costs increased by 44.94% to ¥264,484,069.08, attributed to the corresponding rise in costs associated with smart terminal product sales[51]. - The net loss attributable to shareholders was ¥23,365,700, indicating that the overall gross margin decline could not cover operating expenses[51]. - The total comprehensive income for the first half of 2022 was a loss of CNY 20,735,391.15, compared to a loss of CNY 27,591,824.87 in the same period last year[137]. - The total revenue for the first half of 2022 was approximately 24.365 billion yuan, representing a 9.2% increase compared to the same period in 2021[149]. - The net profit attributable to shareholders was approximately 11.509 billion yuan, with a profit margin of 7.8%[149]. Research and Development - The company plans to invest in research and development to enhance innovation capabilities, despite the inherent risks associated with R&D investments[9]. - The company has committed to optimizing R&D directions to improve market judgment capabilities and enhance efficiency in development processes[9]. - Research and development expenses rose by 24.32% to ¥54,312,861.20, reflecting the company's commitment to innovation[51]. - The company is investing heavily in R&D, with a budget allocation of 1.8 billion yuan for new technologies and product development in 2022[150]. - The company is focusing on research and development of new products, aiming to enhance its competitive edge in the market[154]. - The company aims to enhance its technological capabilities through ongoing research and development initiatives[159]. Market Expansion and Strategy - The company has made progress in expanding into the smart terminal sector, although future performance may be adversely affected by changes in the economic environment[6]. - The company plans to continue expanding its market presence and enhance product sales, focusing on next-generation security chips and systems to increase product value[44]. - The company plans to pursue strategic acquisitions to enhance its technology portfolio, with a target of completing at least two acquisitions by the end of 2022[149]. - Market expansion efforts include entering three new international markets, aiming for a 15% increase in global market share by the end of 2023[149]. - The company is focusing on maintaining its existing product market while exploring new product development and market expansion to create new growth points[5]. Financial Position and Assets - The total assets at the end of the reporting period were ¥2,046,869,128.32, a slight increase of 0.40% from ¥2,038,813,808.93 at the end of the previous year[27]. - The company's total assets as of June 30, 2022, were CNY 1,844,810,173.12, slightly up from CNY 1,840,816,833.81 at the beginning of the year[132]. - The total liabilities increased to CNY 210,803,690.26 as of June 30, 2022, from CNY 182,847,329.18 at the start of the year, reflecting a rise of about 15.3%[134]. - The total owner's equity at the end of the reporting period was approximately 1.657 billion yuan, with a significant portion attributed to retained earnings[156]. - The total assets of the company at the end of the reporting period were approximately 418.04 billion yuan, reflecting a stable financial position[150]. Shareholder Information - The company will not distribute cash dividends or issue bonus shares for the reporting period[11]. - The company approved a stock incentive plan in 2021, granting 4.58 million shares at a price of 10.00 per share to 104 eligible participants[82]. - A total of 207.2 million shares of the stock incentive plan were canceled due to performance not meeting the required targets and some participants leaving the company[82]. - The number of shareholders holding more than 5% of ordinary shares includes Huang Yu with 30.31% and Lu Zhou with 12.59%[116]. - The report indicates that the company has a total of 38,365 shareholders at the end of the reporting period[116]. Risk Management - The company emphasizes careful market research and risk management in its business operations to mitigate potential risks[8]. - The company acknowledges the risk of underperformance in new business ventures, which could negatively impact financial results[6]. - The company has established marketing centers in major cities and has a professional service team to support its global customer base[37]. Operational Efficiency - The gross profit margin for the first half of 2022 was reported at 76%, indicating strong operational efficiency[149]. - The company has set a target to reduce operational costs by 10% through process optimization and automation initiatives[149]. Legal and Compliance - The company did not experience any major litigation or arbitration matters during the reporting period[93]. - The company reported no significant environmental issues or administrative penalties during the reporting period[85]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[89]. Miscellaneous - The company has not reported any changes in its registered address or contact information during the reporting period[24]. - The company did not engage in any fundraising activities during the reporting period[66]. - The company did not report any major strategic initiatives or market expansions during the reporting period[109].

Financial Performance - The company's revenue for Q1 2022 was ¥166,606,986.92, representing a 27.57% increase compared to ¥130,599,275.73 in the same period last year[3] - The net profit attributable to shareholders was a loss of ¥6,455,764.90, an improvement of 41.75% from a loss of ¥11,082,393.77 in the previous year[3] - The net profit for Q1 2022 was -6,390,822.18 CNY, an improvement from -11,388,585.24 CNY in Q1 2021, representing a 43.5% reduction in losses[19] - The total comprehensive income for Q1 2022 was -6,768,780.71 CNY, compared to -11,681,871.41 CNY in Q1 2021, representing a 42.3% reduction in comprehensive losses[20] - The total operating profit for Q1 2022 was -12,592,470.68 CNY, an improvement from -15,046,345.92 CNY in Q1 2021, indicating a 16.3% reduction in operating losses[19] Cash Flow and Liquidity - The net cash flow from operating activities was a negative ¥115,189,203.88, which is an 8.92% increase in outflow compared to the previous year's negative ¥105,757,453.10[3] - Cash flow from operating activities showed a net outflow of -115,189,203.88 CNY in Q1 2022, compared to -105,757,453.10 CNY in Q1 2021, reflecting a worsening of approximately 8.5%[23] - The company's cash and cash equivalents decreased to CNY 602,572,928.47 from CNY 720,262,648.65 at the beginning of the year[15] - The cash and cash equivalents at the end of Q1 2022 were 596,806,723.36 CNY, a decrease from 346,864,524.50 CNY at the end of Q1 2021, indicating a decline of about 72.4%[24] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,059,459,135.55, a 1.01% increase from ¥2,038,813,808.93 at the end of the previous year[3] - Total assets as of March 31, 2022, were CNY 2,059,459,135.55, compared to CNY 2,038,813,808.93 at the beginning of the year[16] - Total liabilities increased to CNY 234,041,976.68 from CNY 206,627,869.35, indicating a rise in financial obligations[17] - The company's total equity decreased slightly to CNY 1,825,417,158.87 from CNY 1,832,185,939.58[17] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 41,775[10] - The top shareholder, Huang Yu, holds 30.31% of the shares, totaling 126,700,046 shares[10] Operational Metrics - The company's basic earnings per share improved to -¥0.02 from -¥0.03, reflecting a 33.33% increase[3] - Operating revenue from sales of goods and services increased to 141,932,932.69 CNY in Q1 2022, compared to 126,085,951.50 CNY in Q1 2021, marking an increase of approximately 12.5%[22] - The company's operating costs rose by 42.32% to ¥108,755,968.02, driven by increased sales of smart terminal products[7] - Total operating costs for Q1 2022 amounted to CNY 178,863,717.27, up from CNY 152,161,222.80 in the previous period[18] - The company reported a net profit margin decline due to increased costs, with operating costs rising by approximately 17.6% compared to the previous period[18] Accounts Receivable and Inventory - Accounts receivable increased by 40.11% to ¥129,854,781.15, primarily due to outstanding payments from customers[7] - Accounts receivable increased to CNY 129,854,781.15 from CNY 92,679,939.28 at the beginning of the year, indicating a rise in credit sales[15] - Inventory rose to CNY 384,472,216.89 from CNY 325,648,656.00, reflecting increased stock levels[15] Government Support and R&D - Government subsidies recognized during the period amounted to ¥3,138,412.06, contributing to the overall financial performance[5] - Research and development expenses decreased to 19,457,951.37 CNY in Q1 2022 from 25,950,216.02 CNY in Q1 2021, a reduction of about 25%[19] Future Outlook - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[1]

Financial Performance - The company's revenue for Q1 2022 was CNY 166,606,986.92, representing a 27.57% increase compared to CNY 130,599,275.73 in the same period last year[3]. - The net profit attributable to shareholders was a loss of CNY 6,455,764.90, an improvement of 41.75% from a loss of CNY 11,082,393.77 in the previous year[3]. - The company reported a net loss of CNY 12,256,730.35 for Q1 2022, compared to a net loss of CNY 21,561,947.07 in Q1 2021[18]. - The net profit for Q1 2022 was -6,390,822.18 CNY, an improvement from -11,388,585.24 CNY in Q1 2021, representing a 43.5% reduction in losses[19]. - Operating profit for Q1 2022 was -12,592,470.68 CNY, compared to -15,046,345.92 CNY in the same period last year, indicating a 16.3% improvement[19]. - The total comprehensive income for Q1 2022 was -6,768,780.71 CNY, compared to -11,681,871.41 CNY in Q1 2021, showing a 42.3% improvement[20]. Cash Flow and Assets - The net cash flow from operating activities was a negative CNY 115,189,203.88, which is an 8.92% increase in outflow compared to a negative CNY 105,757,453.10 in the same period last year[3]. - The company's cash and cash equivalents decreased to CNY 602,572,928.47 from CNY 720,262,648.65 at the beginning of the year, representing a decline of 16.4%[15]. - The cash flow from operating activities was -115,189,203.88 CNY, slightly worse than -105,757,453.10 CNY in the previous year[24]. - The cash and cash equivalents at the end of Q1 2022 were 596,806,723.36 CNY, compared to 346,864,524.50 CNY at the end of Q1 2021, an increase of 72%[24]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,059,459,135.55, a 1.01% increase from CNY 2,038,813,808.93 at the end of the previous year[3]. - The total liabilities increased to CNY 234,041,976.68 from CNY 206,627,869.35, marking an increase of 13.2%[17]. - The total equity attributable to shareholders was CNY 1,818,568,069.46, slightly up from CNY 1,813,891,902.40 at the beginning of the year[17]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 41,775[10]. - The top shareholder, Huang Yu, holds 30.31% of the shares, totaling 126,700,046 shares[10]. Operating Costs and Revenue - The company's operating costs rose by 42.32% to CNY 108,755,968.02, attributed to increased sales of smart terminal products[7]. - The total operating revenue for Q1 2022 was CNY 166,606,986.92, an increase of 27.6% compared to CNY 130,599,275.73 in the same period last year[18]. - The total operating costs for Q1 2022 were CNY 178,863,717.27, up 17.6% from CNY 152,161,222.80 in Q1 2021[18]. - The total operating expenses increased to 266,907,529.40 CNY from 243,520,411.56 CNY, a rise of 9.6%[23]. - Total revenue from operating activities was 151,718,325.52 CNY, up from 137,762,958.46 CNY in Q1 2021, reflecting a growth of 10.1%[23]. Research and Development - Research and development expenses decreased to 19,457,951.37 CNY from 25,950,216.02 CNY, a reduction of 25%[19]. Future Plans - The company plans to continue focusing on market expansion and new product development in the upcoming quarters[12].

Financial Performance - The company achieved operating revenue of 779.31 million yuan, a decrease of 13.26% compared to the same period last year[4]. - The net profit attributable to shareholders of the listed company was a loss of 48.87 million yuan, marking a shift from profit to loss year-on-year[4]. - The decline in revenue was primarily due to a significant drop in sales of USB Key and dynamic token products, alongside rising operating expenses[4]. - The net cash flow from operating activities was ¥8,917,580.37, down 82.28% from ¥50,338,161.99 in the previous year[25]. - The company reported a basic earnings per share of -¥0.12 for 2021, a drop of 180.00% from ¥0.15 in 2020[25]. - The company reported a net profit attributable to shareholders of approximately -¥11.08 million in the first quarter of 2021, indicating ongoing financial challenges[55]. Revenue Breakdown - USB Key products generated revenue of ¥296.57 million, accounting for 38.06% of total revenue, with a year-on-year decrease of 22.96%[53]. - Revenue from smart terminal systems reached ¥216.25 million, representing 27.75% of total revenue, and increased by 45.24% year-on-year[50]. - Chip products contributed ¥100.95 million to revenue, making up 12.95% of total revenue, with a year-on-year increase of 24.21%[50]. - OTP token products generated revenue of ¥39.46 million, accounting for 5.06% of total revenue, showing a significant decline of 68.53% year-on-year[51]. Market Strategy and Development - The company plans to maintain its existing product market while developing new products and expanding into other markets to cultivate new growth points[5]. - The company plans to expand its focus on next-generation security chips, devices, and systems while continuing to develop its core identity authentication business[34]. - The company aims to leverage its technological advantages to enhance its product offerings and market presence in the information security sector[39]. - The company is exploring potential acquisitions to enhance its technology portfolio, with a focus on cybersecurity firms[43]. - The company is focused on expanding its market presence and enhancing its product offerings, particularly in the field of digital security solutions[106]. Research and Development - The company is investing in R&D, with a budget increase of 30% to support the development of new technologies and products[43]. - The company has filed for 10 new patents in 2021, focusing on security technology and user authentication methods[48]. - The company has developed a compatible PIV fingerprint FIDO2 product, expanding its application scenarios and aiming for a broader market share[70]. - The company is focusing on the development of an industrial-grade high-performance 32-bit security master control chip, which has improved performance by over 100% compared to the previous generation[70]. Governance and Management - The company has established a governance structure that complies with relevant laws and regulations, ensuring independent operations in business, personnel, assets, and finance[99][100]. - The company held three shareholder meetings during the reporting period, with participation rates of 56.52%, 43.08%, and 55.78% respectively[102]. - The company experienced a change in management with the resignation of several key personnel, including the deputy general manager and independent directors, indicating potential shifts in strategic direction[105]. - The company has a strong leadership team with diverse backgrounds in technology and finance, which supports its growth strategy[108]. Employee and Compensation - The total remuneration for the board of directors, supervisors, and senior management in 2021 amounted to CNY 10.3943 million[114]. - Employee compensation accounted for 5.50% of the total operating costs in 2021, amounting to RMB 25.65 million, an increase of 0.34% from the previous year[128][129]. - The company approved a restricted stock incentive plan on April 14, 2021, to enhance employee motivation and retention[133]. - A total of 40 internal training sessions were organized, with 1,452 participants, to enhance employee skills and knowledge[130]. Legal and Compliance - There is an ongoing lawsuit regarding patent rights, with the company defending against claims made by Beijing Xinan Century Technology Co., Ltd.[159]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[145]. - The company has not faced any penalties or rectifications during the reporting period[162]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 20% to 1.8 billion yuan[43]. - The company plans to continue expanding into overseas markets as the international market is expected to recover post-pandemic[94]. - Future industry trends will be influenced by the implementation of the Data Security Law and the Personal Information Protection Law in China[91].

Financial Performance - Revenue for Q3 2021 was CNY 217,488,235.29, a decrease of 4.31% compared to the same period last year[3] - Net profit attributable to shareholders was a loss of CNY 12,248,328.06, a decline of 249.22% year-on-year[3] - Total operating revenue for Q3 2021 was ¥534,105,130.80, a decrease of 7.8% compared to ¥579,451,164.87 in the same period last year[18] - Net profit for Q3 2021 was a loss of ¥37,445,520.26, compared to a profit of ¥35,156,273.69 in Q3 2020, marking a significant decline[20] - Operating profit for the period was a loss of ¥52,910,912.89, contrasting with a profit of ¥30,674,722.26 in the previous year[18] - The company reported a total comprehensive loss of ¥40,074,002.18 for the quarter, compared to a comprehensive income of ¥23,378,600.62 in Q3 2020[20] - Basic earnings per share for Q3 2021 were -¥0.09, compared to ¥0.08 in the same period last year[20] Cash Flow and Assets - Cash flow from operating activities showed a net outflow of CNY 161,607,070.67 for the year-to-date, a decrease of 1.97%[3] - Cash flow from operating activities showed a net outflow of ¥161,607,070.67, slightly worse than the outflow of ¥158,489,791.27 in the same quarter last year[24] - The company's cash and cash equivalents as of September 30, 2021, amount to ¥702,292,921.61, a decrease from ¥773,993,305.64 at the end of 2020[15] - Cash and cash equivalents at the end of the period totaled ¥697,381,571.55, down from ¥766,760,020.94 at the beginning of the quarter[24] - Total assets at the end of Q3 2021 were CNY 2,015,580,009.78, down 1.62% from the end of the previous year[3] - Total assets amounted to approximately $2.05 billion, a decrease of $23.84 million compared to the previous period[28] - Current assets totaled approximately $1.62 billion, with a slight adjustment of -$193,860.49[27] - Total current assets decreased to ¥1,448,285,065.91 from ¥1,615,936,182.57 year-over-year[16] Liabilities and Equity - The total liabilities increased to ¥170,999,788.74 from ¥141,297,625.62 year-over-year[17] - Total liabilities reached approximately $141.30 million, an increase of $23.84 million[28] - The total equity attributable to the parent company is ¥1,827,022,567.87, down from ¥1,877,244,632.20 at the end of 2020[17] - Total equity stood at approximately $1.91 billion, unchanged from the previous period[29] Accounts and Expenses - Accounts receivable increased by 61.59% year-to-date, totaling CNY 166,687,367.56, indicating higher customer debts[7] - The company reported a total of 65,069,928.21 in accounts payable as of September 30, 2021, compared to 44,676,292.95 in the previous year[16] - The company has a total of 26,090,112.39 in payable employee compensation, an increase from 23,098,443.50 year-over-year[16] - Management expenses for the first nine months of 2021 were CNY 149,954,880.28, an increase of 47.21% year-on-year, primarily due to higher employee compensation[8] - The company experienced a significant increase in sales expenses, which rose to ¥75,888,790.82 from ¥61,327,987.35 year-over-year, reflecting a 23.9% increase[18] Other Income and Investments - Investment income for the first nine months of 2021 decreased by 69.20%, totaling CNY 4,832,675.57, attributed to reduced financial product returns[8] - Other income for the first nine months of 2021 was CNY 3,729,650.91, a decrease of 38.59% year-on-year, mainly due to reduced government subsidies[9] Shareholder Information - The total number of common shareholders at the end of the reporting period is 37,918[11] - The largest shareholder, Huang Yu, holds 30.31% of the shares, totaling 126,700,046 shares[11] Deferred Tax and Assets - The company reported a significant increase in deferred tax assets by 317.37%, reaching CNY 18,584,563.19, due to the recognition of deductible losses[7] Research and Development - Research and development expenses were ¥67,361,578.34, a slight decrease from ¥68,371,440.70 in the previous year[18] Audit and Standards - The company has not undergone an audit for the third quarter report[30] - The report indicates the implementation of new leasing standards affecting prior comparative data[30]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 316,616,895.51, a decrease of 10.10% compared to CNY 352,177,301.54 in the same period last year[24]. - The net profit attributable to shareholders was a loss of CNY 25,982,799.98, representing a decline of 201.58% from a profit of CNY 25,579,290.78 in the previous year[24]. - The net cash flow from operating activities was a negative CNY 171,545,896.09, worsening by 45.27% compared to a negative CNY 118,087,007.45 in the same period last year[24]. - The total assets at the end of the reporting period were CNY 2,034,339,248.34, a decrease of 0.70% from CNY 2,048,682,223.97 at the end of the previous year[24]. - The net assets attributable to shareholders decreased by 1.98% to CNY 1,840,000,006.81 from CNY 1,877,244,632.20 at the end of the previous year[24]. - The company reported a total of CNY 347,995,892.81 in trading financial assets, reflecting a 3.33% increase due to additional investments in financial products during the period[57]. - The company reported a total revenue of 190.78 million yuan for the first half of 2021, with a net profit of 49.8 million yuan[72]. - The company reported a total of CNY 54,134,379.60 in contract liabilities, which represents 2.66% of total assets[57]. - The company reported a total of 418,044,000 shares, with 180,272,350 shares subject to restrictions, representing 43.12% of total shares before the change[122]. Research and Development - The company plans to enhance research and development efforts to address increasing competition, despite the associated risks and rising costs[6]. - The company aims to conduct detailed market research prior to R&D activities to improve market judgment capabilities and manage development efficiency[6]. - Research and development expenses increased by 7.10% to CNY 43.69 million, primarily due to higher material and service costs[45]. - The company plans to enhance R&D and industrialization in the information security field, focusing on new scenarios such as 5G and blockchain[33]. - The company reported a strong focus on R&D, with numerous patents filed in 2020 and 2021, indicating a commitment to innovation and market leadership[38]. Market and Product Performance - The company faces risks related to market saturation for its USB Key and OTP products, leading to a decline in demand and pricing pressure[5]. - The company's USB Key products generated revenue of 125.94 million yuan, accounting for 39.78% of total revenue, a year-on-year decrease of 9.58%[31]. - Revenue from smart terminal systems reached 77.70 million yuan, representing 24.54% of total revenue, with a year-on-year increase of 48.46%[31]. - Chip products from the subsidiary Hongsi Electronics generated revenue of 42.02 million yuan, accounting for 13.27% of total revenue, an increase of 14.25% year-on-year[32]. - The revenue from USBKey and dynamic token products decreased, contributing to a gross profit decline of CNY 19.68 million[47]. - The smart terminal revenue grew by 48.46% year-on-year, indicating a shift towards new business growth[47]. Assets and Liabilities - Cash and cash equivalents decreased by 19.56% to CNY 370,649,473.55, primarily due to reduced net cash flow from operating activities and increased investment in financial products[57]. - Accounts receivable increased by 2.35% to CNY 150,285,229.02, mainly due to an increase in receivables from bank clients[57]. - Inventory rose by 4.24% to CNY 442,124,623.61, attributed to an increase in both finished goods and goods in transit[57]. - The company's total liabilities increased from CNY 141,297,625.62 to CNY 177,153,355.63, reflecting an increase of approximately 25.4%[143]. - The company's equity attributable to shareholders decreased from CNY 1,877,244,632.20 to CNY 1,840,000,006.81, a decline of about 2%[144]. Shareholder Information - The largest shareholder, Huang Yu, holds 30.31% of the shares, totaling 126,700,046 shares, after a decrease of 4,434,200 shares[127]. - The second-largest shareholder, Li Wei, holds 12.70% of the shares, totaling 53,084,761 shares, with a decrease of 2,124,650 shares[127]. - The company has 44,267 common shareholders at the end of the reporting period[127]. - A total of 4,434,200 restricted shares were released during the reporting period, reducing the restricted shares to 175,838,150, which is 42.06% of total shares[122]. Corporate Governance and Compliance - The company will not distribute cash dividends or issue bonus shares for the reporting period[9]. - The semi-annual financial report was not audited[101]. - The company did not experience any bankruptcy reorganization during the reporting period[103]. - There were no significant litigation or arbitration matters during the reporting period[104]. - The company reported no penalties or rectification situations during the reporting period[106]. - There were no related party transactions during the reporting period[107]. Strategic Initiatives - The company plans to maintain its existing product market while developing new products and expanding into new markets to foster growth[78]. - The company is actively pursuing new strategies for market expansion, particularly in the fields of digital security and smart devices[39]. - The company aims to expand its market presence by leveraging its patented technologies in various applications, including mobile devices and cloud services[39]. - The company plans to continue investing in R&D to maintain its competitive edge and drive future growth through innovative product offerings[39].

Financial Performance - The company's revenue for Q1 2021 was ¥130,599,275.73, representing an increase of 11.25% compared to ¥117,394,865.24 in the same period last year[7]. - The net profit attributable to shareholders was a loss of ¥11,082,393.77, a significant decrease of 3,418.02% from a profit of ¥334,006.64 in the previous year[7]. - The net cash flow from operating activities was a negative ¥109,018,080.43, worsening by 44.96% compared to a negative ¥75,205,674.24 in the same period last year[7]. - Operating revenue for the reporting period was ¥130,599,300, an increase of 11.25% year-over-year[28]. - Total profit for the reporting period was -¥12,771,300, a decrease of 2221.57% year-over-year[28]. - The net profit for Q1 2021 was a loss of ¥11,388,585.24, compared to a profit of ¥539,675.48 in the same period last year, marking a significant decline[50]. - Net profit for the current period was a loss of ¥10,294,071.37, compared to a loss of ¥4,333,906.54 in the previous period, indicating a worsening of approximately 137%[54]. - Total comprehensive income for the current period was a loss of ¥10,294,071.37, compared to a loss of ¥4,489,122.26 in the previous period, reflecting a significant increase in losses[55]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,070,354,431.32, an increase of 1.06% from ¥2,048,682,223.97 at the end of the previous year[7]. - Total liabilities rose to ¥174,651,705.15 from ¥141,297,625.62 at the end of 2020[42]. - The total assets as of January 1, 2021, were adjusted to 2,072,521,092.60 CNY, an increase of 23,838,868.63 CNY due to the new leasing standards[65]. - The total liabilities increased from 141,297,625.62 CNY to 165,136,494.25 CNY, primarily due to the recognition of lease liabilities[66]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 50,509[11]. - The top shareholder, Huang Yu, holds 30.31% of the shares, totaling 126,700,046 shares[11]. - The company did not engage in any repurchase transactions among the top shareholders during the reporting period[12]. Cash Flow and Investments - Cash and cash equivalents as of March 31, 2021, decreased by 54.25% to ¥354,097,809.35, primarily due to the purchase of financial products[18]. - The company received cash from investment recoveries amounting to ¥370,000,000.00, down from ¥698,979,000.00 in the previous period, indicating a decrease of approximately 47%[58]. - The company’s investment cash outflow totaled 687,395,412.75 CNY in Q1 2021, compared to 562,307,031.94 CNY in Q1 2020, indicating increased investment activity[62]. Expenses - Sales expenses for Q1 2021 were ¥23,176,467.74, an increase of 36.33% compared to the same period last year[21]. - Management expenses for Q1 2021 were ¥29,322,814.32, an increase of 50.59% year-over-year[21]. - Research and development expenses for Q1 2021 were ¥25,950,216.02, compared to ¥24,491,796.35 in the previous period, showing an increase of about 6%[49]. - The company reported a significant increase in sales expenses to ¥18,423,604.37 from ¥13,820,161.41, an increase of approximately 33%[53]. Patents and Innovations - The company obtained 45 domestic patents during the reporting period, including 40 invention patents[28]. Cash Management - Cash and cash equivalents decreased to ¥354,097,809.35 from ¥773,993,305.64 at the end of 2020[40]. - Cash flow from operating activities showed a net outflow of ¥109,018,080.43, compared to a net outflow of ¥75,205,674.24 in the previous period, representing an increase in cash burn of approximately 45%[58]. - The total cash and cash equivalents at the end of Q1 2021 were 138,574,951.18 CNY, down from 392,487,778.94 CNY at the end of Q1 2020, reflecting a decrease of approximately 64.7%[62]. Audit and Compliance - The company did not conduct an audit for the Q1 2021 report, which may affect the reliability of the financial data presented[70]. - There were no violations regarding external guarantees during the reporting period[34].

Financial Performance - The company's operating revenue for 2020 was ¥898,489,702.93, a decrease of 4.38% compared to ¥939,620,454.48 in 2019[19]. - The net profit attributable to shareholders for 2020 was ¥62,699,489.31, down 30.51% from ¥90,234,261.13 in 2019[19]. - The net cash flow from operating activities decreased by 57.75% to ¥50,338,161.99 in 2020 from ¥119,156,859.73 in 2019[19]. - The basic earnings per share for 2020 was ¥0.15, a decline of 31.82% compared to ¥0.22 in 2019[19]. - The total assets at the end of 2020 were ¥2,048,682,223.97, an increase of 2.19% from ¥2,004,795,085.72 at the end of 2019[19]. - The company reported a significant reduction in non-recurring gains, impacting overall profitability[29]. - The total revenue for 2020 was ¥898,489,702.93, a decrease of 4.38% compared to ¥939,620,454.48 in 2019[53]. - Domestic revenue was ¥735,089,961.55, down 6.13% from ¥783,113,374.69 in 2019, while international revenue rose by 4.40% to ¥163,399,741.38[53]. Research and Development - The company aims to increase R&D investment to enhance innovation capabilities, despite rising labor costs and uncertainties in R&D activities[6]. - The overall R&D expenses significantly impact the company's profitability due to the increasing costs associated with R&D activities[6]. - The company plans to enhance its R&D efforts in the information security field, targeting new scenarios such as 5G, blockchain, and digital currency[33]. - The R&D budget has increased by 30%, reflecting the company's commitment to developing new technologies[39]. - The company has filed for 30 new patents related to secure transaction methods, indicating a strong focus on innovation[40]. - The company has a total of 1,381 authorized patents, including 1,050 invention patents, showcasing its strong technological capabilities[36]. - The company's R&D investment in 2020 amounted to ¥95,512,730.98, representing 10.63% of total revenue, an increase from 9.73% in 2019[73]. Market Strategy and Product Development - The company is focusing on maintaining its existing product market while developing new products and exploring new markets to cultivate new growth points[5]. - The company aims to expand its market presence through innovative product offerings and strategic partnerships[30]. - The company is committed to exploring new strategies for market expansion and potential mergers and acquisitions to enhance growth[5]. - The company has established a marketing service system globally, with a focus on sectors such as finance, government, and telecommunications[48]. - The company is actively exploring new strategies for market expansion and product development[131]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2021[40]. - The company successfully entered the national government service platform with its dynamic password authentication system in July 2020[30]. Financial Management and Investments - The company reported a total investment of 317,289,120.00, with a fair value change loss of -938,004.71, and a total income from investments of 20,964,381.00[88]. - The company reported a total investment of 14,000 million in low-risk financial instruments, achieving a yield of 4.03%[131]. - The company has maintained a low-risk investment strategy, with a focus on fixed-income products and market stability[140]. - The company achieved a return of 86.01 million from its investments in low-risk assets[133]. - The company plans to expand its investment portfolio into both domestic and international markets, focusing on bonds and currency markets[131]. - The company has allocated 10,000 million in low-risk investments with a floating interest rate of 3.45%[136]. - The company reported a return of 130.25 million from its self-owned funds in the market tools segment[136]. Shareholder and Dividend Information - The company plans to distribute a cash dividend of 0.2 yuan per 10 shares (including tax) based on a total of 418,044,000 shares[7]. - The cash dividend for the year was set at 0.2 yuan per 10 shares, totaling 8,360,880.00 yuan, representing 100% of the profit distribution[99]. - The total cash dividend for 2020 represented 13.33% of the net profit attributable to the shareholders of the listed company[104]. - The total number of shareholders at the end of the reporting period was 46,173, a decrease from 50,509 at the end of the previous month[152]. - The company has a stable profit distribution policy to ensure reasonable returns to shareholders, adhering to relevant laws and regulations for information disclosure[140]. Operational Challenges - The demand for USB Key and OTP products from banks is declining due to market saturation and intense competition, impacting the company's performance[5]. - The company has faced risks related to goodwill impairment, which could adversely affect its operating performance if the recoverable amount falls below the book value[7]. - The company's fixed assets decreased by 21.95% year-over-year, attributed to normal depreciation[34]. - The company reported a significant decrease in cash flow from operating activities, primarily due to a 14.72% increase in cash paid for goods and services[75]. Corporate Governance and Compliance - The board of directors has ensured the accuracy and completeness of the annual report, taking legal responsibility for any misstatements or omissions[3]. - The company has established a complete and independent governance structure, complying with relevant laws and regulations, with no reported violations[184]. - The company maintains independence in business, personnel, assets, institutions, and finance, ensuring no reliance on the controlling shareholder for operations[185][186]. - The company did not experience any bankruptcy reorganization during the reporting period[112]. - There were no significant penalties or rectification measures during the reporting period[116]. Employee Management - The total number of employees in the company is 967, with 666 in the parent company and 301 in major subsidiaries[178]. - The total employee compensation for 2020 amounted to 27.8993 million yuan, accounting for 5.16% of the total operating costs, an increase of 0.22% from the previous year[180]. - The company has implemented a performance management system to ensure fair and competitive compensation for employees[180]. - The company organized 43 internal training sessions with a total of 1,560 participants to enhance business knowledge and skills[181]. - The company has a total of 90 employees with a master's degree or higher, contributing to a skilled workforce[179].