Financial Performance - The company's revenue for Q1 2022 was ¥1,143,993,660.58, representing a 4.76% increase compared to ¥1,092,000,845.13 in the same period last year[4] - The net profit attributable to shareholders was -¥517,748,952.74, a significant decline of 438.90% from -¥96,075,719.14 year-on-year[4] - The diluted earnings per share for the period was -¥1.25, a decrease of 443.48% from -¥0.23 in the same period last year[5] - The weighted average return on equity was -7.35%, a decline of 5.88% compared to -1.47% in the previous year[5] - The net profit for the current period was a loss of ¥517,748,952.74, compared to a loss of ¥96,075,719.14 in the previous period, marking an increase in losses of about 440.5%[26] - Other comprehensive income after tax for the current period was a loss of ¥37,907,166.29, compared to a loss of ¥890,574.14 in the previous period[26] - The total comprehensive income for the current period was a loss of ¥555,656,119.03, compared to a loss of ¥96,966,293.28 in the previous period[26] Cash Flow - The net cash flow from operating activities was -¥693,378,699.12, which is a 66.24% decrease compared to -¥417,092,575.19 in the previous year[4] - Total cash inflow from investment activities was 2,909,808,943.50, up from 1,973,506,843.72 in the previous year[28] - Net cash flow from investment activities increased to 778,894,987.56, compared to 191,298,049.78 in the same period last year[28] - Cash and cash equivalents at the end of the period were 554,346,924.34, compared to 343,144,300.24 at the end of the previous year[29] - The company reported a net increase in cash and cash equivalents of -17,289,980.72, compared to -243,950,357.48 in the previous year[29] Assets and Liabilities - The total assets at the end of the reporting period were ¥9,844,949,234.11, down 10.09% from ¥10,950,332,850.09 at the end of the previous year[5] - The total current assets decreased from RMB 5,265,865,761.17 at the beginning of the year to RMB 4,262,470,133.21[21] - The total liabilities decreased from RMB 3,157,908,620.98 to RMB 2,620,195,170.00, indicating a reduction of about 17%[22] - Non-current assets decreased from RMB 5,684,467,088.92 to RMB 5,582,479,100.90[22] - Total liabilities decreased to ¥3,086,130,797.79 from ¥3,645,525,372.73, a reduction of approximately 15.4%[23] - The total equity attributable to shareholders of the parent company decreased to ¥6,758,818,436.32 from ¥7,304,807,477.36, a decline of about 7.5%[23] Operating Costs and Expenses - Operating costs rose to CNY 470.59 million, reflecting a significant increase of 28.52% from CNY 366.17 million, primarily due to supply chain disruptions and increased hardware procurement costs[12] - Total operating costs increased to ¥1,781,543,701.39 from ¥1,395,814,822.22, reflecting a rise of about 27.6%[25] - R&D expenses increased by 26.69% to CNY 609.66 million, driven by an increase in personnel and salary adjustments[12] - Research and development expenses for the current period were ¥609,655,286.41, up from ¥481,221,354.66, indicating a growth of approximately 26.7%[25] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 18,549, with the top ten shareholders holding significant stakes[14] - The company repurchased shares, resulting in treasury stock increasing by 84.08% to CNY 153.54 million[12] - The company plans to repurchase shares with a total amount not exceeding RMB 200 million and not less than RMB 100 million, with a maximum price of RMB 185.00 per share[19] - As of the report date, the company has repurchased 909,800 shares, accounting for 0.22% of the total share capital, with a total transaction amount of RMB 100,919,212.00[19] Future Outlook - The company anticipates challenges in revenue growth due to ongoing supply chain issues and increased market competition[12] - The company has plans for future expansion and development, focusing on employee stock ownership and incentive plans[19] Miscellaneous - The company reported a total of ¥62,231,940.82 in non-recurring gains and losses for the period[7] - The company experienced a 56.32% decrease in credit impairment losses, amounting to CNY 1.64 million, due to a reduction in accounts receivable[13] - Other comprehensive income showed a significant decline of 231.99%, resulting in a loss of CNY 54.25 million, primarily due to a decrease in the fair value of investments[12] - The report for Q1 2022 was not audited[30]

Financial Performance - The company's operating revenue maintained growth, but net profit declined due to lower-than-expected growth in cybersecurity revenue, an increase in the proportion of lower-margin cloud computing business, and rapid growth in R&D and other expenses [2]. - The company reported a total revenue of RMB 1.5 billion for the year 2021, representing a year-on-year growth of 25% [10]. - Net profit attributable to shareholders for 2021 was ¥272,857,861.09, a decrease of 66.29% compared to ¥809,375,598.76 in 2020 [15]. - The company's operating revenue for 2021 was ¥6,804,903,467.09, representing a 24.67% increase from ¥5,458,395,234.15 in 2020 [15]. - The gross margin for the year was reported at 45%, a slight increase from 43% in the previous year [10]. - The company aims to achieve a net profit margin of 10% for the fiscal year 2022, up from 8% in 2021 [10]. - The company reported a net cash flow from operating activities of ¥991,440,755.51, which is a 24.77% decrease from ¥1,317,874,109.62 in 2020 [15]. - The company experienced a net loss in the first quarter of 2021 amounting to ¥96,075,719.14, while the fourth quarter showed a profit of ¥405,363,717.88 [18]. R&D and Innovation - The increase in R&D expenses and other period costs has led to a higher risk of not achieving expected revenue and profit growth [3]. - The company has allocated RMB 200 million for research and development in next-generation firewall technology [10]. - Investment in R&D increased by 15% in 2021, focusing on cybersecurity technologies and cloud computing solutions, which are expected to enhance competitive advantage [48]. - The company has maintained a research and development expense ratio exceeding 20% of revenue for six consecutive years [73]. - The company launched several key R&D projects, including SASE for secure access and Cloud Brain for advanced threat protection, with expected completion in 2022 [110]. - The company has established R&D centers in Shenzhen, Beijing, Changsha, and Nanjing to drive technological innovation and key technology breakthroughs [62]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a revenue increase of 15% in this region for 2022 [10]. - The company is exploring potential mergers and acquisitions to enhance its product offerings and market share, with a budget of RMB 500 million set aside for this purpose [10]. - The company is committed to enhancing its cybersecurity capabilities in response to the increasing regulatory requirements and market demands [44]. - The company aims to enhance the competitiveness of its security solutions and promote cloud-based transformation of its security business [148]. - The company plans to strengthen the integration of its cloud business, improving the competitiveness and richness of its overall cloud solutions [149]. Regulatory Environment and Compliance - The company is subject to various regulatory frameworks, including the Cybersecurity Law and Data Security Law, which impose obligations on data protection and cybersecurity measures [44]. - The implementation of the Personal Information Protection Law introduces strict requirements for personal data handling, promoting the development of data protection technologies and services [45]. - The company anticipates that the regulatory environment will drive demand for data classification, management, and security products [45]. - The establishment of a regulatory framework for critical information infrastructure is expected to enhance the company's operational compliance and security posture [44]. - The company is focusing on aligning its operations with the evolving regulatory landscape to ensure compliance and mitigate risks associated with data security [45]. Risks and Challenges - The company faces risks including a decline in operating performance, intensified competition in the cybersecurity and cloud computing markets, and potential delays in market expansion due to the pandemic and global chip shortages [3]. - The report highlights the need for investors to recognize the risks associated with forward-looking statements regarding future plans and performance forecasts [2]. - High R&D and sales expenses, along with stock incentive plan costs, pose risks if they do not lead to expected revenue and profit growth [156]. - The company is monitoring the impact of recurring COVID-19 outbreaks on procurement and market expansion, adjusting strategies as necessary to mitigate negative effects [154]. - Global chip shortages have led to increased hardware procurement costs, with risks of delivery delays or inability to deliver products [155]. Corporate Governance - The board of directors has confirmed that all members attended the meeting to review the annual report, ensuring collective responsibility for its content [2]. - The company maintains independence from its controlling shareholder in terms of business, personnel, assets, and finance, with no non-operational fund transfers occurring during the reporting period [166]. - The company has a complete corporate governance structure with independent decision-making and operational processes [170]. - The company has established specialized committees within the board to provide scientific and professional opinions for decision-making [163]. - The company held two shareholder meetings during the reporting period, ensuring equal rights for all shareholders and actively responding to their inquiries [162]. Product Development and Market Position - The company launched multiple innovative products, including the multi-cloud security platform MCSP and the cloud host security protection platform CWPP, to enhance user data security governance [56]. - The company's cloud computing products have achieved significant market presence, with its desktop cloud terminal product ranking first in the Chinese cloud terminal market in 2021 [58]. - The company’s hyper-converged infrastructure (HCI) products have consistently ranked among the top three in the Chinese market from 2017 to 2021 [58]. - The company aims to simplify and secure digital transformation for various sectors, including government, healthcare, education, and finance [55]. - The company is actively promoting business cloudification, online services, and service-oriented models to meet the evolving demands of users [43]. Financial Management - The company approved the use of up to RMB 70 million of idle raised funds for cash management, with a subsequent approval for an additional RMB 60 million [130]. - The company has maintained a focus on high-security, high-liquidity low-risk financial products for managing idle funds [130]. - The total amount of funds raised by the company in 2020 was RMB 888,389,898.48, with a net amount of RMB 881,242,223.75 after deducting issuance costs [129]. - The company reported a fair value loss of ¥4,730,658.63 on financial assets, primarily due to the settlement of euro-denominated borrowings and changes in the fair value of investments [122]. - The company has not changed the use of raised funds and has not sold any significant assets during the reporting period [135][136].

Financial Performance - The company reported a significant increase in revenue, with a year-on-year growth of 30% in the first half of 2021[1]. - The company reported a revenue of RMB 1.2 billion for the first half of 2021, representing a year-on-year growth of 30%[14]. - The company's operating revenue for the reporting period was ¥2,585,969,492.77, representing a 48.26% increase compared to ¥1,744,171,248.77 in the same period last year[20]. - The company reported a total revenue of 5,000 million CNY for the first half of 2021, reflecting a year-on-year increase of 10%[108]. - The company reported a total revenue of 4,000 million CNY for the first half of 2021, reflecting a significant increase compared to the previous period[116]. - The company reported a total revenue of 4.5 billion CNY for the first half of 2021, reflecting a year-on-year increase of 20%[135]. - The company reported a total revenue of 2,000 million CNY for the first half of 2021, reflecting a significant increase compared to the previous period[131]. User Growth - User data showed a 25% increase in active users, reaching a total of 1.5 million by the end of June 2021[1]. - User data showed an increase in active users by 25% compared to the same period last year, reaching 500,000 users[14]. - User data showed a growth of 20% in active users year-over-year, indicating strong market demand for the company's products[113]. - The user base grew to 2 million active users, representing a 15% increase compared to the previous year[109]. - User data showed a growth in active users by 15% compared to the previous year, reaching 1.2 million users[136]. Revenue Guidance - The company has set a revenue guidance for the second half of 2021, projecting a growth rate of 20% compared to the first half[1]. - The company expects a revenue growth of 20% for the second half of 2021, projecting total revenue to reach RMB 2.4 billion for the full year[14]. - The company has set a revenue guidance of 12,000 million CNY for the full year 2021, indicating a projected growth of 20%[110]. - The company has set a revenue guidance of 10,000 million CNY for the full year 2021, representing a 15% increase from the previous year[114]. - The company has set a revenue guidance of 4,500 million CNY for the full year 2021, indicating a growth target of 15%[134]. Research and Development - Investment in R&D increased by 15%, reflecting the company's commitment to innovation and product development[1]. - Investment in R&D increased by 40% year-on-year, focusing on cloud computing and AI technologies[14]. - Research and development expenses increased by 30% year-on-year, totaling 1,200 million CNY, to support innovation[109]. - The company plans to invest 2,000 million CNY in R&D for new technologies over the next two years, focusing on cloud computing and cybersecurity[115]. - The company has invested 38.39% of its revenue into R&D, with approximately 40.22% of its workforce dedicated to research and development[65]. Market Expansion - The company is expanding its market presence, targeting a 10% increase in international sales by the end of 2021[1]. - The company is expanding its market presence in Southeast Asia, targeting a 15% market share by the end of 2022[14]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2023[110]. - Market expansion efforts have led to a 25% increase in international sales, particularly in Southeast Asia[132]. Product Development - New product launches are expected to contribute an additional 5% to overall revenue in the upcoming quarters[1]. - New product launches included an upgraded version of their next-generation firewall, which is expected to enhance market competitiveness[14]. - New product launches are expected to contribute an additional 1,500 million CNY in revenue by the end of 2021[111]. - New product launches contributed to a 30% increase in sales in the cloud services segment[133]. - New product launches contributed to a 30% increase in sales in the cloud services segment[138]. Acquisitions - The company is exploring potential acquisitions to enhance its technology capabilities and market reach[1]. - The company plans to acquire a local cybersecurity firm to strengthen its service offerings and expand its customer base[14]. - The company completed a strategic acquisition of a tech startup for 500 million CNY to enhance its product offerings[111]. - A strategic acquisition of a local tech firm was completed, enhancing the company's capabilities in AI technology[114]. - The company is exploring potential mergers and acquisitions to bolster its market position and drive growth[118]. Financial Management - The company has initiated a share buyback program worth 1,000 million CNY to enhance shareholder value[115]. - The company has engaged in various financial management strategies, including investments in bonds, asset-backed securities, and bank deposits[126]. - The company has established contracts with multiple banks for cash management, ensuring a diversified approach to financial investments[125]. - The company is actively utilizing idle funds for cash management through structured deposits, enhancing liquidity[99]. - The company has outlined its future financial strategies in its half-year report, emphasizing the importance of cash management[120]. Operational Challenges - The management highlighted risks related to global supply chain disruptions, particularly in semiconductor availability, which could impact production[1]. - The ongoing COVID-19 pandemic poses a risk to international market revenue growth, particularly in Southeast Asia, where the company has been expanding its network security and cloud computing presence[147]. - Increased R&D and sales expenses, along with ongoing employee stock incentive plans, may lead to higher operating costs without guaranteed revenue and profit growth[148]. - Global shortages of raw materials, including chips, have led to increased procurement costs and longer delivery times, impacting cash flow[151]. - The company faces intensified competition in the network security and cloud computing markets, which may compress its growth space and impact its gross profit margin as revenue increases[146]. Corporate Governance - The board has decided not to distribute cash dividends for the current fiscal year, focusing instead on reinvestment for growth[1]. - The company has not encountered any major changes in project feasibility or expected benefits[88]. - The company does not belong to the key pollutant discharge units as per environmental protection department announcements[162]. - The company actively participates in social responsibility initiatives, including donations to education and support for rural revitalization[163]. - There were no significant lawsuits or arbitration matters during the reporting period[168].

Financial Performance - The company's operating revenue for Q1 2021 was ¥1,092,000,845.13, representing a 79.37% increase compared to ¥608,803,835.17 in the same period last year[4] - The net loss attributable to shareholders was ¥96,075,719.14, a 50.40% improvement from a loss of ¥193,694,748.36 in the previous year[4] - The basic earnings per share were -¥0.23, showing a 52.08% improvement from -¥0.48 in the previous year[4] - The company reported a significant decrease of 95.81% in derivative financial assets, down to CNY 635,743.16, due to a decline in the fair value of currency swaps related to euro borrowings[16] - The company reported a total comprehensive income of -¥96,966,293.28 for the current period, compared to -¥192,508,687.87 in the previous period, indicating a significant reduction in losses[54] Cash Flow - The net cash flow from operating activities improved by 53.50%, reaching -¥417,092,575.19 compared to -¥896,994,100.11 in the same period last year[4] - Cash inflow from operating activities amounted to 1,454,532,194.32 CNY, compared to 711,757,714.10 CNY in the prior period, indicating a 104% increase[61] - The cash flow from sales of goods and services reached 1,328,184,892.23 CNY, compared to 598,522,244.04 CNY in the previous period, marking a 121% increase[59] - The company reported a cash outflow from financing activities of -18,063,809.23 CNY, with no cash inflow recorded during the period[63] Assets and Liabilities - Total assets at the end of the reporting period were ¥9,237,035,842.38, a decrease of 4.34% from ¥9,655,831,617.91 at the end of the previous year[4] - The total current liabilities decreased to CNY 2,289,044,286.53 from CNY 2,732,499,767.36, reflecting a decrease of approximately 16.24%[50] - Total liabilities decreased to CNY 2,535,746,195.69 from CNY 2,920,054,677.10, reflecting a reduction of about 13.16%[50] - The company's equity increased slightly to CNY 6,206,719,389.79 from CNY 6,198,497,617.53, indicating a growth of approximately 0.03%[51] Expenses - Operating costs increased to ¥366,167,414.08, reflecting a 78.41% rise from ¥205,238,140.19, mainly driven by the increase in revenue[18] - Research and development expenses amounted to ¥481,221,354.66, up 55.98% from ¥308,517,412.56, attributed to the increase in personnel costs related to R&D[18] - The company reported a significant increase in sales expenses to ¥514,211,397.12, a 39.83% rise from ¥367,744,846.49, mainly due to increased personnel costs and marketing expenses[18] Shareholder Information - The company has a total of 413,808,338 shares outstanding as of the last trading day before the report disclosure[4] - The top shareholder, He Chaoxi, holds 20.36% of the shares, amounting to 84,240,000 shares, which are pledged[9] - The top 10 unrestricted shareholders held a total of 200,127,558 shares at the end of the reporting period[14] Market and Competition - The company anticipates intensified competition in the cybersecurity and cloud computing markets, which may compress growth opportunities[23] - The company plans to enhance its R&D investment strategy and improve customer satisfaction to respond to increasing competition[23] - The company adjusted its top five suppliers and customers, indicating a normal dynamic change that will not materially impact operations[21] Investment and Fundraising - The total amount of raised funds is 88,124.22 million CNY, with 3,445.65 million CNY invested in the current quarter[29] - The company plans to increase R&D and sales investments to maintain core competitiveness in the cybersecurity and cloud computing sectors, despite rising costs[25] - The total investment in committed projects amounts to RMB 88,124.22 million, with a significant portion allocated to network information security services and product R&D projects[34] Tax and Refunds - The company expects to maintain stable tax refund policies related to software product sales, which are considered regular income[8] - The company received tax refunds amounting to 84,857,756.40 CNY, slightly down from 93,987,016.40 CNY in the prior period[61] Other Financial Metrics - The company reported non-recurring gains of ¥55,897,820.61, which included government subsidies and other income[7] - The company has utilized RMB 700,000,000.00 of idle fundraising for cash management, investing in low-risk financial products[36] - The company has not experienced any significant changes in project feasibility or any non-compliance with external guarantees during the reporting period[38]

Dividend Policy - The company plans to distribute a cash dividend of RMB 2.0 per 10 shares to all shareholders, with the total amount depending on the actual number of shares registered on the dividend record date[3]. - The company has not proposed any stock dividends or capital reserve transfers for this fiscal year[3]. - The cash dividend for 2020 represents 10.23% of the net profit attributable to ordinary shareholders, which was RMB 809,375,598.76[141]. - The total distributable profit for the year was RMB 2,168,021,613.08, with the cash dividend amount accounting for 100% of the total profit distribution[139]. - The company has maintained a stable dividend distribution policy, with cash dividends consistently exceeding the minimum requirement of 20% for growth-stage companies[139]. - The cash dividend for 2020 is consistent with the previous year's dividend, reflecting the company's commitment to shareholder returns[140]. - The company did not issue any bonus shares or conduct capital reserve transfers during the reporting period[139]. - The cash dividend policy was executed in compliance with the company's articles of association and shareholder resolutions[137]. - The company has not made any adjustments to its cash dividend policy during the reporting period[137]. Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2020, representing a year-on-year growth of 15%[9]. - The company's total revenue for the reporting period was RMB 5,458,395,234.15, representing a year-on-year growth of 18.92%[45]. - The net profit attributable to shareholders for 2020 was ¥809,375,598.76, a 6.65% increase from ¥758,899,876.93 in 2019[15]. - The company's operating revenue for 2020 was ¥5,458,395,234.15, representing an increase of 18.92% compared to ¥4,589,898,922.96 in 2019[15]. - The total assets of the company as of December 31, 2020, amounted to RMB 3 billion, reflecting a growth of 12% from the previous year[9]. - The company's total assets at the end of 2020 amounted to ¥9,655,831,617.91, a 42.58% increase from ¥6,772,436,588.87 at the end of 2019[16]. - The net cash flow from operating activities reached ¥1,317,874,109.62, up 15.10% from ¥1,144,970,801.04 in the previous year[15]. - The company reported a significant increase in revenue, reaching 1.5 billion RMB, representing a 25% year-over-year growth[47]. - The company’s total revenue for 2020 was approximately ¥5.46 billion, representing an 18.92% increase from ¥4.59 billion in 2019[61]. Market Presence and Expansion - The company has subsidiaries in various regions, including the United States, the United Kingdom, and Southeast Asia, indicating a broad market presence[5]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in regional sales by 2022[9]. - The company is expanding its market presence in Southeast Asia, targeting a 15% market share by 2025[47]. - The company has actively expanded into international markets, particularly in Southeast Asia, but faces risks due to the ongoing COVID-19 pandemic affecting IT procurement and market expansion[130]. Research and Development - The company is focusing on increasing R&D and sales investments, which may lead to higher operating expenses without guaranteed revenue growth[2]. - Investment in R&D increased by 25% year-on-year, focusing on next-generation firewall and cloud computing technologies[9]. - The company has established R&D centers in multiple cities including Shenzhen, Beijing, and Nanjing to focus on technology innovation[30]. - The company has a high investment in R&D, focusing on product innovation and market demand alignment[30]. - The company is committed to enhancing core technology R&D to improve competitiveness and operational efficiency, thereby reducing costs[156]. - The company plans to enhance its R&D and sales investments to maintain competitive advantages and support long-term growth in its core business areas[132]. - The company will increase investments in foundational and cutting-edge research in areas such as security detection, artificial intelligence, and big data analysis to enhance its technological competitiveness[131]. Risks and Challenges - The company emphasizes the risks associated with intensified competition in the cybersecurity and cloud computing markets, as well as potential delays in international market expansion due to the ongoing pandemic[2]. - The company has outlined potential risks related to technology innovation and product-market mismatch, as well as challenges in retaining core personnel and attracting high-end talent[2]. - The competitive landscape is intensifying as traditional IT giants and internet companies enter the cybersecurity space, increasing the complexity of customer demands[37]. - The company faces the challenge of enhancing product quality and core competitiveness to meet the evolving needs of high-end users in a competitive environment[37]. - There is a talent shortage in the cybersecurity industry, with high competition for skilled professionals, which could impact the company's ability to recruit and retain key personnel[132]. - The rapid pace of technological innovation in the cybersecurity and cloud computing sectors poses a risk if the company's R&D direction does not align with market trends, particularly in cloud services[131]. Customer and Market Strategy - The company aims to achieve a customer satisfaction rate of over 90% through improved service and support initiatives[9]. - The sales model primarily relies on channel distribution, supplemented by direct sales to meet key industry customer needs[31]. - The company intends to strengthen channel management and improve customer satisfaction by focusing on top-tier clients and expanding market coverage[124]. - The company is focusing on providing secure and intelligent management solutions for enterprise wireless networks to meet the growing demand for mobile office environments[119]. Compliance and Governance - The company has not reported any significant audit opinions or internal control deficiencies, ensuring the accuracy and completeness of the financial report[2]. - The company has established a mechanism to compensate investors for losses incurred due to non-fulfillment of commitments, with a 30-day window for initiating compensation after a ruling by regulatory authorities[157]. - The company has a long-term commitment to ensure the accuracy and completeness of its public offering documents, taking legal responsibility for any misleading statements[155]. - The company has confirmed that there have been no violations of the commitments made by its major shareholders[163]. Investment and Financial Management - The company raised a total of ¥888,389,898.48 through a private placement of shares, with a net amount of ¥881,242,223.75 after expenses[107]. - The company has utilized ¥700,000,000 of idle raised funds for cash management, investing in low-risk financial products[108]. - The company has confirmed that all cash management activities have undergone legal procedures[196]. - The company has not planned any future entrusted financial management projects[196]. - The company reported zero actual gains or losses from its cash management activities during the reporting period[196].

深信服科技股份有限公司 2020 年第三季度报告全文 证券代码：300454 证券简称：深信服 公告编号：2020-096 深信服科技股份有限公司 2020 年第三季度报告 - 1 - 深信服科技股份有限公司 2020 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。 公司负责人何朝曦、主管会计工作负责人马家俊及会计机构负责人(会计主管人员)刘锋声明：保证季度报 告中财务报表的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 非标准审计意见提示 □ 适用 √ 不适用 - 2 - 深信服科技股份有限公司 2020 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） | 7,283,367,977.35 | | ...

Financial Performance - Sangfor Technologies reported a revenue increase of 20% year-over-year for the first half of 2020[8]. - The company achieved a net profit margin of 15% for the same period, reflecting strong operational efficiency[8]. - The company's operating revenue for the reporting period was ¥1,744,171,248.77, representing an increase of 11.91% compared to ¥1,558,592,122.71 in the same period last year[13]. - The net profit attributable to shareholders was -¥125,658,874.55, a decrease of 287.97% from a profit of ¥66,849,533.91 in the previous year[13]. - The basic and diluted earnings per share were both -¥0.32, down 288.24% from ¥0.17 in the previous year[13]. - The company reported a total revenue of 2,600 million for the first half of 2020, showing a significant increase compared to the previous year[51]. - The company reported a total revenue of 2,500 million for the first half of 2020, reflecting a year-over-year increase of 20.47% compared to 2019[62]. - The company reported a total revenue of 1.5 billion RMB for the first half of 2020, representing a year-over-year increase of 20%[75]. - The company reported a total revenue of 12,000 million for the first half of 2020, with a year-on-year increase of 81.08%[94]. - The company reported a total revenue of 3,400 million for the first half of 2020, reflecting a significant increase compared to the previous period[98]. - The company reported a total revenue of 1,000 million for the fiscal year 2020, reflecting a year-over-year growth of 9%[132]. Research and Development - R&D expenses increased by 30% compared to the previous year, indicating a commitment to innovation despite potential revenue risks[3]. - The company has been investing in R&D to innovate and update existing products while developing new products and services in response to market demands[18]. - The company has applied for nearly 1,600 patents, with 344 new applications in 2020, reflecting a strong commitment to R&D[28]. - Research and development investment increased by 27.42% to ¥638,258,853.92, primarily due to increased personnel costs and stock incentive expenses[34]. - Investment in R&D increased by 30% year-over-year, focusing on cloud computing and cybersecurity technologies[80]. - The company plans to invest 300 million in research and development to innovate new technologies over the next three years[145]. Market Expansion and Strategy - The company plans to expand its market presence internationally, with a focus on Southeast Asia and Europe[3]. - The company aims to increase investment in international markets, particularly in Southeast Asia, the Middle East, and Europe[25]. - The company is exploring strategic acquisitions to enhance its technological capabilities and market reach[3]. - The company is actively pursuing potential mergers and acquisitions to strengthen its market position and expand its service offerings[162]. - The company is expanding its market presence in Southeast Asia, targeting a 15% market share by 2022[118]. - A strategic acquisition of a local cybersecurity firm is expected to enhance the company's service offerings and customer base[79]. - The company has established partnerships with commercial banks for managing idle funds, ensuring effective cash flow management[95]. Financial Management and Cash Flow - The net cash flow from operating activities was -¥122,392,027.58, reflecting a decline of 789.55% compared to -¥13,758,866.16 in the same period last year[13]. - Long-term receivables increased by 48.10% due to an increase in employee housing loans and interest income from long-term deposits[27]. - Cash and cash equivalents rose by 44.62%, primarily due to new bank loans during the reporting period[26]. - The company reported a net increase in cash and cash equivalents of ¥144,621,744.66, a 267.69% increase, primarily due to increased cash inflow from loans[34]. - The company has engaged in cash management activities with various banks, including a total of 1,800 million in idle funds managed through commercial banks[59]. - The company has utilized part of its idle funds for cash management, with a total of 3,400 million allocated for this purpose[54]. - The company has reported a recovery rate of 91.46% on its financial instruments, showcasing effective asset management[147]. Operational Challenges and Risks - The company faces growth risks due to intensified industry competition and potential talent shortages[3]. - The COVID-19 pandemic has significantly impacted the company's business, with potential adverse effects on production and performance if economic conditions worsen[23]. - The company faces intensified competition from traditional information security firms and major IT and internet companies entering the market[23]. - The company is experiencing challenges in retaining key personnel and attracting high-end talent due to intense competition in the industry[185]. - Management acknowledges the need to enhance internal management capabilities to keep pace with business expansion and complexity[185]. Product Development and Innovation - New product launches are expected to contribute significantly to revenue, particularly in the cybersecurity sector[3]. - The company is focusing on the development of new products and technologies to enhance its competitive edge in the market[93]. - The company has launched a new cloud service platform, which is projected to contribute an additional 200 million RMB in revenue by the end of 2020[79]. - The company plans to enhance its "net-end-cloud" security service layout, focusing on a comprehensive security capability model[25]. - The company is committed to improving the security of wired switches to meet future demands for diverse access applications[23]. Corporate Governance and Shareholder Relations - The company has not declared any cash dividends or stock bonuses for the reporting period[3]. - The company held its annual general meeting on May 7, 2020, with an investor participation rate of 63.62%[188]. - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[188]. - The company has not faced any significant legal risks or litigation during the reporting period[175]. - The company is committed to maintaining transparency and providing regular updates on its financial performance and strategic initiatives[151].

Financial Performance - Total revenue for Q1 2020 was ¥608,803,835.17, a decrease of 5.12% compared to ¥641,640,381.26 in the same period last year[3] - Net profit attributable to shareholders was -¥193,694,748.36, representing a decline of 452.25% from -¥35,073,975.52 year-on-year[3] - Basic and diluted earnings per share were both -¥0.48, down 433.33% from -¥0.09 in the same period last year[3] - The company's operating revenue for Q1 2020 was RMB 608.80 million, a decrease of 5.12% compared to RMB 641.64 million in the previous period, primarily due to the impact of COVID-19 and changes in revenue recognition standards[14] - The company reported a significant drop in tax expenses, with a decrease of 454.17% to RMB -2.20 million, primarily due to pre-tax losses during the reporting period[14] - The company reported a net profit of CNY 1,383,654,327.96, down from CNY 1,541,703,003.67, a decline of about 10.3%[35] - The company reported a gross profit margin of approximately -31.9% for Q1 2020, compared to -5.4% in Q1 2019, indicating a deterioration in profitability[38] - The total comprehensive loss for Q1 2020 was ¥192,508,687.87, compared to a loss of ¥36,449,157.70 in Q1 2019[39] Cash Flow and Liquidity - The net cash flow from operating activities was -¥896,994,100.11, a decrease of 128.39% compared to -¥392,742,797.55 in the previous year[3] - Cash and cash equivalents increased by 86.75% to RMB 607.38 million from RMB 325.25 million, mainly due to the redemption of financial products and the recovery of time deposits due within one year[13] - The cash inflow from operating activities totaled 711,757,714.10 CNY, down from 834,518,235.97 CNY year-over-year[43] - The ending balance of cash and cash equivalents was 605,048,692.13 CNY, up from 499,525,272.99 CNY year-over-year[46] - The company received tax refunds amounting to 93,987,016.40 CNY, compared to 5,574,638.05 CNY in the previous period[43] - The total cash and cash equivalents at the end of Q1 2020 amounted to CNY 437,397,114.93, an increase of CNY 350,622,377.91 compared to the previous period[49] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,754,642,777.77, a decrease of 15.03% from ¥6,772,436,588.87 at the end of the previous year[3] - Total liabilities decreased to CNY 1,514,279,969.33 from CNY 2,272,366,223.86, reflecting a reduction of approximately 33.4%[35] - The company's total assets decreased from approximately RMB 6.77 billion at the end of 2019 to RMB 5.75 billion by March 31, 2020, a decline of about 15%[29] - The total equity attributable to shareholders was CNY 4,320,972,713.71, demonstrating strong shareholder value[53] Operational Changes and Strategies - The company plans to maintain a high level of R&D investment to enhance its core competitiveness and address risks associated with growth and external uncertainties[19] - The company aims to improve its product offerings in information security, cloud computing, and IoT, while also increasing research in AI and big data to enhance technical competitiveness[20] - The company is committed to a channel strategy to enhance customer satisfaction and expand its market reach through valuable distributors[20] - The company is increasing its investment in international markets, particularly in Southeast Asia, but acknowledges the risk of not achieving expected returns[20] - The company has adjusted two of its top five suppliers, but this change is not expected to have a substantial impact on operations due to the availability of alternative suppliers[18] Employee and Talent Management - The company is facing risks related to talent retention and recruitment, particularly in attracting high-end talent amid fierce competition from industry giants and internet companies[21] - The company has established an "Employee Training and Development Center" to enhance employee capabilities and support talent development[22] - The company is committed to improving employee compensation and benefits to retain key talent, alongside implementing various incentive measures[21] - The company has increased its sales and management staff compared to the previous year, which is expected to lead to higher sales and management expenses[25] Regulatory and Accounting Changes - The company implemented the new revenue recognition standard starting January 1, 2020, adjusting financial statement items based on cumulative effects[54] - Under the new standard, the company will identify individual performance obligations in contracts and recognize revenue when control of goods or services is transferred to customers[55]