苏州天孚光通信股份有限公司 2018 年第三季度报告全文 苏州天孚光通信股份有限公司 2018 年第三季度报告 2018 年 10 月 1 苏州天孚光通信股份有限公司 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。 公司负责人邹支农、主管会计工作负责人曹辉及会计机构负责人(会计主管 人员)付丽萍声明：保证季度报告中财务报表的真实、准确、完整。 2 苏州天孚光通信股份有限公司 2018 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 1,147,881,570.17 | | 889,425,236.77 | 29.06% | | 归属于上市公司股东的净资产 | 1,024,008, ...

Financial Performance - Total revenue for the reporting period reached CNY 207.21 million, an increase of 20.91% compared to CNY 171.38 million in the same period last year[33]. - Net profit attributable to shareholders decreased by 10.89% to CNY 54.34 million from CNY 60.98 million year-on-year[33]. - Net cash flow from operating activities fell by 32.43% to CNY 36.89 million, down from CNY 54.60 million in the previous year[33]. - Basic and diluted earnings per share decreased by 10.88% to CNY 0.2924 from CNY 0.3281 year-on-year[33]. - Total assets increased by 2.66% to CNY 913.05 million from CNY 889.43 million at the end of the previous year[33]. - The company's net assets attributable to shareholders decreased by 0.64% to CNY 803.69 million from CNY 808.91 million at the end of the previous year[33]. - The company reported a total of CNY 2.91 million in non-recurring gains and losses, primarily from financial investment income and government subsidies[27]. - The company achieved a revenue of CNY 207,211,535.92 in the reporting period, representing a year-on-year increase of 20.91% due to the growth in new product line revenues[54]. - Operating costs rose to CNY 106,272,117.87, reflecting a 55.35% increase, primarily driven by the corresponding rise in revenue[54]. - The gross profit margin for domestic sales was 44.14%, while for international sales it was 58.28%, showing a decrease of 12.06% and 10.87% respectively compared to the previous year[56]. Product Development and Innovation - The company plans to focus on the development of new product lines, including high-speed optical devices and components, to meet the demands of 5G and data centers[7]. - The company has expanded its product offerings to include optical isolators, MPO high-density cable connectors, and lens arrays[7]. - New product lines, including high-density cable connectors and optical isolators, have entered mass production, contributing to revenue growth[33]. - The OSA high-speed optical device product line has become a stable supplier for several major clients, with continuous improvement in yield and efficiency[50]. - The Mux/Demux packaging platform has completed multiple certifications for major clients and has entered mass production[51]. - The BOX packaging platform is set to enter sample and small batch production in the second half of 2018[51]. - The company aims to transition from optical communication components to comprehensive packaging technology platforms, leveraging opportunities from 5G and data center growth[51]. - New product development includes the launch of a next-generation optical communication device, expected to enhance market competitiveness[82]. Market Strategy and Expansion - The company continues to focus on high-end market positioning and high-quality product concepts, with a stable business model and ongoing global expansion efforts[32]. - The company is actively pursuing global industrial layout and has established a network of R&D and production bases in various regions, enhancing its competitive edge[32]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2019[79]. - A strategic acquisition of a local competitor is in progress, which is anticipated to increase the company's production capacity by 40%[80]. - The company is considering strategic acquisitions to bolster its market position, with a budget of 500 million RMB earmarked for potential mergers and acquisitions[112]. - Market expansion efforts include entering two new international markets, which are expected to contribute an additional 200 million RMB in revenue by the end of 2018[116]. Risks and Challenges - The company faces risks related to industry development, including potential demand slowdown and market competition affecting profit margins[5]. - The company's future plans and strategies are subject to risks, including technological advancements and trade tensions[4]. - The company faces risks from industry development, including potential demand slowdown in downstream applications and intensified market competition affecting gross margins[71]. Shareholder and Financial Management - The company does not plan to distribute cash dividends or issue bonus shares for the current period[9]. - The company has committed to repurchase shares if the stock price falls below the audited net asset value per share for 20 consecutive trading days[85]. - The total amount used for share repurchase should not exceed the total funds raised from the initial public offering[86]. - The company plans to use a minimum of RMB 20 million for each share repurchase transaction[86]. - The controlling shareholder is required to increase their shareholding if the stock price falls below the audited net asset value for 20 consecutive trading days[87]. - The company has established measures to stabilize stock prices through share repurchase and shareholder increases[84]. - The company has committed to maintaining shareholder rights and ensuring fair treatment of minority shareholders[120]. Research and Development - R&D investment for the first half of 2018 reached 22.66 million yuan, a year-on-year increase of 28.38%[47]. - The company holds over 60 patents, reflecting its strong R&D capabilities and innovation[48]. - The company is investing 200 million CNY in R&D for new technologies over the next two years, aiming to innovate in optical communication solutions[81]. - The company is investing heavily in R&D, allocating 10% of its revenue to develop new technologies and products, aiming to enhance competitive advantage[115]. Compliance and Governance - The company has made commitments to avoid conflicts of interest and ensure compliance with relevant regulations[119]. - The company has established measures to ensure compliance with commitments made regarding competitive business activities[93]. - The company will adhere to market pricing principles for any unavoidable related transactions and will follow the necessary approval procedures[94]. - The company has committed to not providing any guarantees for related enterprises during the period of being a major shareholder[94]. - The company will ensure that any related transactions do not harm the legal rights of Tianfu Communication and its shareholders[95].

Financial Performance - Total revenue for Q1 2018 was CNY 99,040,834.27, representing a 13.59% increase compared to CNY 87,194,554.02 in the same period last year[8] - Net profit attributable to shareholders decreased by 13.62% to CNY 27,422,109.57 from CNY 31,746,127.66 year-on-year[8] - Basic earnings per share fell by 13.64% to CNY 0.1475 from CNY 0.1708 in the previous year[8] - The net cash flow from operating activities was CNY 25,195,850.17, a slight decrease of 0.45% from CNY 25,309,241.73 in the previous year[8] - The weighted average return on equity decreased to 3.33% from 4.11% year-on-year[8] - The gross margin for Q1 2018 was reported at 35%, a slight increase from 33% in the previous quarter[47] - The company reported a significant increase in revenue for Q1 2018, with a year-over-year growth of 25%[52] - The company reported a total revenue of 1.5 billion CNY for Q1 2018, representing a year-over-year growth of 15%[46] - The company achieved a net profit of 300 million RMB in Q1 2018, representing an increase of 20% compared to the same period last year[67] Market and Product Development - The company plans to enhance R&D investment and accelerate the long-term layout and mass production of new product lines to respond to customer needs[11] - New product lines such as OSA ODM high-speed optical devices and optical isolators are being developed to strengthen market competitiveness[13] - In Q1 2018, the company's revenue increased by 13.59% year-on-year, driven by the scale production of new product lines such as MPO high-density cable connectors and OSA[24] - New product launches are expected to contribute an additional 10% to revenue, with two major products set to be released in Q2 2018[35] - New product development includes the launch of a next-generation optical communication device, expected to enhance data transmission speeds by 30%[49] - The company is considering strategic acquisitions to enhance its product offerings and market reach, with a budget of $50 million allocated for potential acquisitions[32] - The company is exploring potential acquisitions to enhance its technology portfolio, with a budget of 500 million RMB allocated for this purpose[67] Operational Efficiency and Cost Management - The company is focusing on cost reduction and efficiency improvement across product lines, with new product lines enhancing production capacity[27] - The company's operating costs rose by 45.42% to RMB 49,244,232.75, mainly due to increased sales volume[22] - The company aims to reduce operational costs by 5% through efficiency improvements in the supply chain[49] - The company has set a target to reduce operational costs by 15% over the next year through efficiency improvements[54] Cash Flow and Financial Position - The net cash flow from investing activities was negative at RMB -4,841,020.97, a decrease of 106.30% compared to the previous year, mainly due to fixed asset investments[22] - The company's cash and cash equivalents increased to RMB 345,793,788.54 from RMB 327,122,183.48, representing a growth of about 5.1%[80] - The company's cash and cash equivalents were CNY 338,999,760.24, an increase from CNY 321,863,027.88 at the start of the period[84] - Cash outflow from investment activities was $158,451,986.50, an increase of 50.9% from $104,903,600.92 in the previous period[100] Shareholder and Regulatory Commitments - The company has committed to maintaining its cash dividend policy, ensuring that shareholder rights are protected and that the distribution process is transparent[73] - The company will publicly apologize to shareholders and investors if commitments are not met, as per regulatory requirements[56] - Future cash dividends to shareholders may be deducted based on their proportionate shareholding if obligations are not fulfilled[57] - The company has established measures for accountability in case of breach of commitments by its shareholders, including public apologies and compensation for losses incurred[44] Market Expansion and User Growth - The company is expanding its market presence in Southeast Asia, targeting a 30% increase in market share by the end of 2018[36] - User data showed an increase in active users by 15% compared to the previous quarter, reaching a total of 1.5 million active users[33] - User data indicated an increase in active users by 20% compared to the previous quarter, reaching 2 million active users[47] - The company provided a positive outlook for the upcoming quarters, projecting a revenue growth of 20% for the full year 2018[34] Investment and Research - Research and development expenses increased by 18%, reflecting the company's commitment to innovation and new technology[37] - The company plans to invest 200 million CNY in R&D for new technologies over the next year, focusing on AI integration in communication systems[48] - The company is investing in R&D, allocating 10% of its revenue towards developing new technologies and products[53]

Revenue and Financial Performance - The company reported a significant increase in revenue driven by the rapid growth in the overseas data center market, while the domestic operator market experienced a slowdown[5]. - The company's total revenue for 2017 was CNY 337,992,404.01, representing a year-on-year increase of 9.01% compared to CNY 310,047,077.82 in 2016[22]. - In 2017, the company's total revenue increased by 9.01% year-on-year, driven by the mass production of certain product lines and sales growth from overseas customers[47]. - The revenue from optical communication components was CNY 333,537,213.14, accounting for 98.68% of total revenue, with a year-on-year growth of 7.64%[60]. - The net profit attributable to shareholders, excluding non-recurring gains and losses, was CNY 102,725,710.16, a decrease of 9.61% from CNY 113,648,432.12 in the previous year[22]. - The company experienced a decline in net profit in 2017 primarily due to high R&D expenses for new product lines and competitive pricing pressures in the telecom market[35]. - The company's net profit decreased by 8.51% year-on-year due to high R&D expenses for new product lines and price declines in some products caused by market competition[47]. - The gross profit margin for optical communication components was 55.61%, with a decrease of 6.15% compared to the previous year[63]. Research and Development - The company plans to increase R&D investment to enhance technological innovation and accelerate the long-term layout and mass production of new product lines[5]. - R&D investment reached 34.26 million yuan in 2017, a year-on-year increase of 30.25%, with multiple new product lines receiving customer certifications[48]. - The total R&D investment for 2017 was 34,258,855.18 CNY, representing 10.14% of operating revenue, an increase of 30.25% compared to the previous year[71]. - The company has established a new R&D center to support the development of multiple new product lines since its listing[8]. - The company holds a total of 51 patents, reflecting its strong R&D capabilities and commitment to innovation[41]. Market Strategy and Competition - The company is facing risks related to market competition, which may lead to a decline in gross profit margins if product prices continue to decrease without a corresponding drop in unit costs[7]. - The company acknowledges the potential risks of a slowdown in demand in downstream application areas, which could adversely affect revenue growth[5]. - The company emphasizes the importance of understanding and responding to customer needs to consolidate its long-term technological and product advantages[5]. - The company has established long-term stable supply relationships with major clients, including Huawei and ZTE, enhancing its market position[42]. - The company is focused on lean management practices to improve efficiency and reduce costs in traditional business areas[101]. - The company has established multiple new product lines, including high-speed optical devices and optical isolators, to enhance competitiveness[105]. Investment and Capital Management - The company is undergoing a non-public stock issuance to raise funds for high-speed optical device projects, which has been approved by the China Securities Regulatory Commission but is still subject to uncertainty[9]. - The company has made significant investments in new projects, including a total of ¥51,000,000 in the reporting period, indicating a strong commitment to growth[78]. - The company’s investment in fixed assets increased due to the completion of fundraising project facilities and new equipment[38]. - The company has established a merger fund with a total scale of 300 million RMB, with its contribution adjusted from 135 million RMB to 45 million RMB after one year of operation[190]. - The company reported a commitment to ensure that any non-public issuance of shares does not dilute immediate returns[148]. Shareholder Returns and Dividends - The profit distribution plan includes a cash dividend of 3.20 RMB per 10 shares, with no bonus shares issued[9]. - In 2017, the company distributed a cash dividend of RMB 3.2 per 10 shares, totaling RMB 59,472,000, which represents 100% of the distributable profit[112]. - The cash dividends for 2017 represented 53.47% of the net profit attributable to ordinary shareholders, which was RMB 111,234,679.39[117]. - The company has consistently maintained a cash dividend distribution policy over the past three years[114]. Compliance and Governance - The company emphasizes the importance of compliance with relevant laws and regulations regarding share repurchase and shareholder actions[129]. - The company has established a robust governance structure to oversee related transactions and ensure compliance with internal and external regulations[135]. - The company has committed to transparency and timely disclosure of information to shareholders and the public, in compliance with relevant laws and regulations[140]. - The company has established a framework for accountability, including public apologies and potential withholding of dividends if commitments are not met[142]. Operational Efficiency - The company aims to improve production efficiency and enhance automation levels to mitigate risks associated with declining gross profit margins[7]. - The company’s construction of information systems like MES, ERP, and MRP has improved operational efficiency and cost reduction[50]. - The company is focused on enhancing its operational efficiency and financial management to support future growth initiatives[82]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% based on new product launches and market expansion strategies[159]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[161]. - The management team reiterated its commitment to sustainable growth and innovation, aligning with industry trends and consumer demands[160].

Financial Performance - Operating revenue for the reporting period was ¥80,312,682.72, a decrease of 0.72% year-on-year, while revenue for the year-to-date was ¥251,693,074.80, an increase of 11.90%[8] - Net profit attributable to shareholders for the reporting period was ¥23,301,205.64, down 18.55% year-on-year, and year-to-date net profit was ¥84,276,516.46, a decrease of 5.09%[8] - Basic earnings per share for the reporting period was ¥0.1254, reflecting an 18.52% decline compared to the same period last year[8] - The weighted average return on net assets was 3.03%, down 1.04% from the previous year[8] - The net cash flow from operating activities for the year-to-date was ¥73,735,789.46, a decrease of 28.14%[8] - The company reported a net profit of RMB 20 million for Q3 2017, representing a year-on-year increase of 15%[30] - Total revenue for Q3 2017 reached RMB 100 million, up 10% compared to the same period last year[31] - The company reported a cumulative reduction in shareholding not exceeding 2% of the total share capital during the lock-up period[43] - The company reported a total comprehensive income of CNY 18,829,296.29, down 28.4% from CNY 26,289,353.66 in the previous period[86] Assets and Liabilities - Total assets at the end of the reporting period reached ¥857,938,808.23, an increase of 5.14% compared to the end of the previous year[8] - As of September 30, 2017, the company's cash and cash equivalents increased to ¥290.97 million, up 31.1% from ¥221.98 million at the end of 2016, primarily due to investments and dividend distributions[19] - The total liabilities increased to CNY 74,088,321.36 from CNY 58,909,564.95, marking a rise of about 25.7%[74] - The equity attributable to the owners of the parent company reached CNY 781,893,908.12, up from CNY 757,089,391.66, which is an increase of approximately 3.3%[75] - The cash and cash equivalents at the end of the period amounted to CNY 283,915,964.91, up from CNY 186,431,030.28 in the previous period, showing an increase of approximately 52.3%[99] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 13,391[12] - The largest shareholder, Suzhou Tianfu Renhe Investment Management Co., Ltd., held 46.95% of the shares, totaling 87,250,000 shares[12] - There were no repurchase transactions conducted by the top ten shareholders during the reporting period[13] Market and Growth Outlook - The company provided a positive outlook for Q4 2017, projecting a revenue growth of 20%[27] - New product launches are expected to contribute an additional 10% to overall revenue in the next quarter[28] - The company is expanding its market presence in Southeast Asia, targeting a 30% market share by the end of 2018[25] - Future guidance indicates a revenue growth target of 15% for the next quarter, driven by increased demand in the telecommunications sector[30] - The company plans to implement new marketing strategies aimed at increasing brand awareness and customer engagement by 20% in 2018[54] Research and Development - Research and development investments increased by 18%, focusing on innovative communication technologies[26] - The company has allocated RMB 50 million for R&D in new technologies for the upcoming fiscal year[35] - Tianfu Communication is investing heavily in R&D, with a budget allocation of 150 million RMB for new product development in 2018, focusing on advanced optical communication technologies[63] Compliance and Commitments - The company is committed to strict adherence to the lock-up agreement disclosed in the prospectus during the initial public offering[44] - The company will compensate investors for losses incurred due to violations of the commitments made in the prospectus[47] - The company is subject to legal responsibilities and potential penalties from regulatory authorities if it violates the commitments[47] - A commitment to maintaining compliance with regulatory standards was reiterated, ensuring transparency in financial reporting and corporate governance[55] Operational Efficiency - The company plans to implement cost-cutting measures that could reduce operational expenses by 10% in the next fiscal year[25] - The company aims to improve operational efficiency, targeting a reduction in costs by 5% over the next year[33]

Financial Performance - Total operating revenue for the reporting period reached ¥171,380,392.08, an increase of 18.99% compared to ¥144,026,430.75 in the same period last year[24]. - Net profit attributable to shareholders was ¥60,975,310.82, reflecting a slight increase of 1.31% from ¥60,185,481.04 year-on-year[24]. - Net profit after deducting non-recurring gains and losses was ¥57,531,835.22, up 3.56% from ¥55,555,684.20 in the previous year[24]. - Basic earnings per share increased by 1.33% to ¥0.3281 from ¥0.3238 year-on-year[24]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the first half of 2017, representing a year-over-year growth of 25%[101]. - The company reported a net profit of 200 million RMB for the first half of 2017, representing a 15% increase year-over-year[108]. - The total revenue for the first half of 2017 reached 1 billion RMB, showing a growth of 10% compared to the same period last year[109]. - The company achieved a net profit of 200 million RMB in the same period, an increase of 10% compared to the previous year[116]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion CNY for the first half of 2017, representing a year-on-year growth of 25%[120]. Cash Flow and Investments - The net cash flow from operating activities decreased by 13.89% to ¥54,600,922.34 from ¥63,411,545.44 in the same period last year[24]. - The net cash flow from investing activities surged by 155.83% to ¥81,019,754.96, compared to ¥31,669,426.27 in the previous year, driven by significant investments in Tianfu No. 1 and Tianfu Precision[56]. - The net increase in cash and cash equivalents was ¥76,953,765.66, representing a 42.82% increase from ¥53,882,588.03[56]. - Cash and cash equivalents at the end of the period totaled CNY 298,933,073.89, up from CNY 194,623,051.19, marking an increase of about 53.6%[199]. - The company reported a total cash inflow from investment activities of CNY 278,836,060.28, compared to CNY 226,351,577.85 in the previous period, showing an increase of approximately 23.2%[198]. - The cash outflow from investment activities was CNY 197,816,305.32, slightly higher than CNY 194,682,151.58 in the previous period[198]. Research and Development - The company plans to increase R&D investment to enhance technological innovation and accelerate the long-term layout and mass production of new product lines[6]. - Research and development investment reached 17.64 million RMB, a year-on-year increase of 53.40%, with the company holding a total of 49 patents by the end of the reporting period[45]. - The company emphasizes R&D and has a strong team of international professionals, enhancing its competitive edge in technology and product development[38]. - Investment in R&D increased by 20% in the first half of 2017, focusing on the development of new optical communication technologies[123]. - The company is investing 50 million RMB in new technology to improve production processes, expected to reduce costs by 10%[110]. Market Position and Strategy - The company is focused on high-end market positioning and high-quality products in the optical communication sector, maintaining its leadership in the fiber optic connector niche[31]. - The company is preparing for capacity expansion of new product lines, including the second phase of OSA high-speed optical devices and MPO product lines in Jiangxi[50]. - The company is expanding its market presence, targeting a 10% increase in market share within the next year through strategic partnerships and marketing initiatives[105]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share by 2020[111]. - A strategic partnership with a leading telecom operator is expected to boost sales by 50 million RMB annually[115]. Risks and Challenges - The company is facing risks from market competition that may lead to a decline in gross profit margins, prompting a focus on product structure upgrades and efficiency improvements[8]. - The company anticipates potential risks from the slowdown in downstream application demand and market scale shrinkage, which could adversely affect revenue growth[85]. - The company faces risks related to raw material cost fluctuations and has implemented strict supplier management procedures to mitigate these risks[88]. Shareholder and Corporate Governance - The company held three shareholder meetings during the reporting period, with participation rates of 65.75%, 64.94%, and 65.84% respectively[94]. - The actual controller and shareholders have fulfilled their commitments during the reporting period, with no overdue commitments as of the end of the reporting period[96]. - The company plans to initiate a share buyback program, with a budget of up to 200 million RMB, aimed at stabilizing stock prices and enhancing shareholder value[106]. - The management emphasized the importance of maintaining compliance with regulatory requirements while pursuing growth strategies and shareholder commitments[103]. Future Outlook - The company provided a positive outlook for the second half of 2017, projecting a revenue growth of 20% based on current market trends and user acquisition strategies[103]. - Future guidance estimates a revenue growth of 15% for the full year 2017, with a focus on increasing operational efficiency[109]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2018[120]. - The company aims to enhance shareholder value by implementing a dividend policy that targets a payout ratio of 30% of net profits starting from 2018[133].