Financial Performance - Revenue for Q1 2022 was CNY 121,992,665.78, a decrease of 20.11% compared to CNY 152,701,227.18 in the same period last year[4] - Net profit attributable to shareholders was CNY 5,374,335.69, down 87.45% from CNY 42,811,537.42 year-on-year[4] - Basic earnings per share decreased by 88.99% to CNY 0.02 from CNY 0.1817 in the previous year[5] - Total operating revenue for Q1 2022 was CNY 121,992,665.78, a decrease of 20.1% compared to CNY 152,701,227.18 in the same period last year[21] - Net profit for Q1 2022 was CNY 5,374,335.69, down 87.5% from CNY 42,811,537.42 in Q1 2021[22] - The total comprehensive income for the first quarter was CNY 5,374,335.69, a significant decrease from CNY 42,811,537.42 in the previous period, reflecting a decline of approximately 87.4%[23] - Basic and diluted earnings per share for the quarter were CNY 0.02, down from CNY 0.1817 in the same period last year, indicating a decrease of about 89%[23] Cash Flow - Net cash flow from operating activities was CNY 4,754,644.51, a decline of 88.43% compared to CNY 41,111,324.02 in the same period last year[5] - Cash inflows from operating activities totaled CNY 214,993,292.52, compared to CNY 180,550,646.55 in the previous period, representing an increase of approximately 19%[25] - The net cash flow from operating activities was CNY 4,754,644.51, a decline of 88% from CNY 41,111,324.02 in the previous year[26] - Cash outflows from investing activities amounted to CNY 73,562,480.71, a decrease from CNY 194,281,064.05 in the previous period, indicating a reduction of about 62%[26] - The net cash flow from investing activities was -CNY 54,038,588.91, compared to -CNY 194,281,064.05 in the previous year, showing an improvement of approximately 72%[26] - Cash inflows from financing activities were CNY 139,271,766.88, down from CNY 219,976,269.58 in the previous period, reflecting a decrease of about 37%[27] - The net cash flow from financing activities was -CNY 9,008,169.85, a significant decline from CNY 136,786,278.35 in the previous year[27] - The ending balance of cash and cash equivalents was CNY 61,186,097.42, compared to CNY 25,512,102.49 at the end of the previous period, indicating an increase of approximately 140%[27] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,041,705,916.64, an increase of 2.06% from CNY 2,000,410,594.71 at the end of the previous year[5] - Total liabilities increased to CNY 824,971,846.51 from CNY 791,594,499.18 at the start of the year, reflecting a rise of 4.2%[18] - Current assets totaled CNY 812,891,543.06, up from CNY 783,886,238.64 at the beginning of the year, indicating a growth of 3.8%[16] - Inventory levels rose to CNY 355,411,290.35, compared to CNY 294,105,725.62 at the start of the year, representing an increase of 20.9%[16] - Long-term borrowings decreased by 39.60% to CNY 84,627,000.00, primarily due to the reclassification of borrowings due within one year[9] - Short-term borrowings increased to CNY 285,794,022.94 from CNY 232,087,510.23, marking a rise of 23.1%[17] - Other payables increased by 54.16% to CNY 119,178,500.00, mainly due to an increase in payables for equipment[9] Research and Development - R&D expenses increased by 216.90% to CNY 872,640.00, reflecting higher investment in research and development[9] - Research and development expenses for Q1 2022 were CNY 8,726,425.09, significantly higher than CNY 2,753,670.03 in Q1 2021, reflecting a growth of 216.5%[21] Impairment and Costs - The company reported a significant increase in asset impairment losses, which rose by 7,566.47% to CNY 828,800.00, primarily due to increased bad debt provisions[10] - The company reported a total operating cost of CNY 116,385,452.76, which is an increase of 5.4% from CNY 109,949,194.53 in the previous year[21] Audit Status - The report for the first quarter was not audited[28]

Financial Performance - The company's operating revenue for 2021 was approximately ¥655.37 million, representing a 68.98% increase compared to ¥387.84 million in 2020[18]. - The net profit attributable to shareholders for 2021 was approximately ¥116.78 million, a significant increase of 478.08% from ¥20.20 million in 2020[18]. - The net profit attributable to shareholders, excluding non-recurring gains and losses, was CNY 112,917,264.72, a significant increase of 663.07% compared to the previous year[19]. - The operating cash flow net amount reached CNY 132,474,977.07, representing a 72.59% increase year-on-year[19]. - Basic and diluted earnings per share were CNY 0.4444, up 417.95% from CNY 0.0858 in the previous year[19]. - Total assets increased by 89.27% to CNY 2,000,410,594.71 compared to the end of the previous year[19]. - The net assets attributable to shareholders rose by 118.55% to CNY 1,208,816,095.53[19]. - The company achieved a revenue of CNY 655.37 million in 2021, representing a year-on-year growth of 68.98%[50]. - The electronic components segment accounted for ¥628,096,488.83, or 95.84% of total revenue, with a significant year-on-year growth of 79.97%[66]. - The gross profit margin for electronic components was 47.25%, an increase of 24.02% compared to the previous year[68]. Market Expansion and Product Development - The company is focused on expanding its market presence and enhancing its product offerings in the piezoelectric quartz crystal components sector[18]. - The company has established deep cooperation with well-known domestic and international smartphone manufacturers and smart home appliance manufacturers[34]. - The company is actively expanding its direct sales market, leveraging product platform certifications to capture market opportunities and enhance sales of higher value-added components[43]. - The company has developed and mass-produced new products such as TSX temperature-sensitive crystals and TCXO oscillators, ensuring continuous competitiveness in miniaturization and diversification[46]. - The company is positioned to benefit from the domestic substitution trend in high-frequency and miniaturized quartz crystal components, as domestic manufacturers seek to reduce reliance on imports[47]. - The company is developing a WiFi module with a miniaturized 1210 size, which is expected to enhance the market for TWS and wearable devices[79]. - The company has completed the sample phase for a 2016 96MHz 5G high-frequency quartz resonator, which is expected to improve the company's brand image[79]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2023[138]. Research and Development - The company increased its R&D investment, focusing on new products like the 1612 size 76.8MHz TSX crystal and 2016 H-type TCXO oscillator, enhancing its core competitiveness[62]. - Investment in R&D increased by 30% in 2021, focusing on new technologies and product innovations[138]. - The management team has a clear vision for future growth, emphasizing the importance of research and development in maintaining competitive advantage[162]. - The company has established partnerships and collaborations to strengthen its supply chain and improve operational efficiency[162]. Corporate Governance and Compliance - The company is under continuous supervision by its sponsor, China Merchants Securities Co., Ltd., ensuring compliance and governance[18]. - The company strictly adheres to laws and regulations regarding corporate governance, ensuring no significant discrepancies with the requirements set by regulatory bodies[124]. - The company has established a comprehensive information disclosure management system to ensure timely and accurate communication with investors[130]. - The company actively engages with stakeholders to balance interests and promote sustainable development[131]. - The company is committed to maintaining high standards of risk management and compliance, as highlighted by the objections raised during board meetings[178]. Risks and Challenges - The company has identified potential risks in its future development outlook, which investors should pay attention to[5]. - The company faces risks from macroeconomic fluctuations, which could impact consumer demand for electronic products, potentially leading to decreased sales and market demand[114]. - There is a risk of product price volatility due to increased competition and technological advancements, which may negatively affect the company's profitability[115]. - The company acknowledges the risk of intensified market competition, particularly if its R&D does not align with industry trends and market demands[118]. Shareholder Returns and Dividends - The company plans to distribute a cash dividend of ¥0.90 per 10 shares to all shareholders, based on a total of 279,004,251 shares[5]. - The company distributed a cash dividend of 25,110,382.59 CNY, which accounted for 100% of the total profit distribution[189]. Management and Leadership Changes - The company reported a significant turnover in its management team, indicating a strategic shift in leadership[145]. - The company has a new general manager, Han Jiling, who took office on July 1, 2021[140]. - The company has appointed new members to its supervisory board following the resignation of previous members[146]. - The company is focused on enhancing its operational efficiency and governance through these leadership changes[145]. Financial Management and Investments - The company raised a total of 499.99 million RMB through the issuance of 40,420,371 shares at a price of 12.37 RMB per share, with a net amount of 491.55 million RMB after deducting issuance costs[98]. - The total investment amount for the reporting period was 789.72 million RMB, a significant increase of 216.39% compared to the previous year's investment of 249.60 million RMB[92]. - The company has established a fundraising management system to ensure that raised funds are stored in dedicated accounts and used for specified purposes[199].

Financial Performance - Revenue for Q3 2021 reached ¥194,280,618.19, an increase of 90.18% year-over-year, and cumulative revenue for the year was ¥527,492,947.96, up 113.98%[4] - Net profit attributable to shareholders for Q3 2021 was ¥50,043,222.66, a significant increase of 713.89% year-over-year, with a cumulative net profit of ¥138,108,465.20, up 1,225.16%[4] - Basic earnings per share for Q3 2021 was ¥0.1816, reflecting a growth of 505.33% compared to the same period last year, while diluted earnings per share also increased by 595.79% to ¥0.1816[4] - The total operating revenue for the third quarter of 2021 was CNY 527,492,947.96, a significant increase from CNY 246,512,510.74 in the same period last year, representing a growth of approximately 113%[25] - The net profit for the third quarter of 2021 reached CNY 138,108,465.20, compared to CNY 10,421,998.62 in the previous year, marking an increase of about 1,224%[26] - The total comprehensive income for the period was CNY 138,108,465.20, compared to CNY 10,421,998.62 in the previous period, indicating significant growth[27] - Basic and diluted earnings per share both increased to CNY 0.5352 from CNY 0.0442 in the previous period[27] Assets and Liabilities - Total assets at the end of Q3 2021 amounted to ¥1,843,556,325.07, representing a growth of 74.43% compared to the end of the previous year[5] - The total assets as of the end of the third quarter of 2021 amounted to CNY 1,843,556,325.07, up from CNY 1,056,893,475.04 year-over-year, reflecting a growth of approximately 74%[24] - The total liabilities increased to CNY 637,537,400.48 from CNY 503,795,423.80, which is an increase of about 26.5%[23] - The company's cash and cash equivalents saw a rise in current assets, totaling CNY 738,883,004.77, compared to CNY 436,647,511.82 in the previous year, indicating a growth of approximately 69%[22] Shareholder Information - The total number of common shareholders at the end of the reporting period is 30,109[15] - The largest shareholder, Xinjiang Huilun Equity Investment Partnership, holds 21.05% of shares, totaling 58,090,980 shares, with 23,803,200 shares pledged[15] - The number of shares held by the top ten unrestricted shareholders includes 58,090,980 shares by Xinjiang Huilun Equity Investment Partnership and 14,000,000 shares by Anhui Zhidao Investment Co., Ltd.[16] - The company plans to lift restrictions on specific shares on November 12, 2021, including 4,232,012 shares held by Hunan Qingsalt Investment Management Co., Ltd.[18] - Anhui Zhidao Investment Co., Ltd. has 4,042,037 shares with restrictions set to be lifted on November 12, 2021[19] - The total number of restricted shares at the beginning of the period was 40,420,371, with no new restricted shares added during the period[19] - The company has a strong focus on equity financing, with several shareholders participating in the financing business[16] - The company is actively managing its shareholder structure, with several shareholders having pledged their shares[15] Cash Flow and Investments - Cash flow from operating activities for the year-to-date was ¥63,534,532.84, up 89.38%[4] - Cash inflow from operating activities totaled CNY 744,154,294.01, a substantial increase from CNY 331,738,048.95 in the previous period[29] - The net cash flow from operating activities was CNY 63,534,532.84, up from CNY 33,549,534.17 in the previous period[30] - Cash outflow from investment activities was CNY 642,043,434.00, compared to CNY 240,310,282.09 in the previous period, reflecting increased investment[30] - Cash inflow from financing activities reached CNY 904,166,804.59, significantly higher than CNY 241,900,000.00 in the previous period[30] - The net cash flow from financing activities was CNY 659,029,790.40, compared to CNY 163,341,397.54 in the previous period, indicating strong financing activity[30] - The ending cash and cash equivalents balance was CNY 121,938,684.13, up from CNY 26,693,244.44 in the previous period[31] Research and Development - Research and development expenses increased by 45.30% year-over-year, indicating a focus on innovation and product development[11] - Research and development expenses for the third quarter were CNY 14,152,677.51, up from CNY 9,740,608.20, which is an increase of about 45%[25] Operational Efficiency - The company reported a 34.56% increase in operating costs year-over-year, primarily due to increased sales volume[10] - The company reported a gross profit margin improvement, with total operating costs at CNY 366,315,354.09, compared to CNY 242,294,088.71, reflecting a more efficient cost structure[25] Borrowings and Financial Position - The company’s long-term borrowings increased by 221.44%, reflecting additional loans for fixed asset acquisitions[10] - The long-term borrowings increased to CNY 147,864,115.57 from CNY 46,000,000.00, indicating a strategic move to leverage for growth[23] - The financial position shows a robust increase in liquid assets, indicating improved liquidity and financial health[21] Audit and Compliance - The company did not undergo an audit for the third quarter report[32] - The company has not applied the new leasing standards for the current financial statements[32]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 333,212,329.77, representing a 130.83% increase compared to CNY 144,353,891.01 in the same period last year[28]. - The net profit attributable to shareholders for the first half of 2021 was CNY 88,065,242.54, a significant increase of 1,960.79% from CNY 4,273,382.57 in the previous year[28]. - The net profit after deducting non-recurring gains and losses reached CNY 84,896,458.69, up 4,785.93% from CNY 1,737,568.98 in the same period last year[28]. - The net cash flow from operating activities was CNY 36,067,125.18, an increase of 273.16% compared to CNY 9,665,356.06 in the previous year[28]. - The total assets at the end of the reporting period were CNY 1,725,300,471.35, reflecting a 63.24% increase from CNY 1,056,893,475.04 at the end of the previous year[28]. - The net assets attributable to shareholders increased by 107.68% to CNY 1,148,658,306.34 from CNY 553,098,051.24 at the end of the previous year[28]. - The company reported a weighted average return on equity of 11.08%, up from 0.81% in the previous year[28]. - The gross profit margin for electronic components has significantly improved due to increased production capacity utilization and rising product prices[41]. - The gross profit margin for SMD products was 46.38%, with revenue increasing by 158.80% and cost of sales increasing by 71.57% year-on-year[53]. - The company reported a significant increase in cash flow from operating activities, amounting to CNY 36,067,125.18, a 273.16% rise from CNY 9,665,356.06 in the previous year[51]. Market Risks - The company faces risks related to raw material price fluctuations, as key materials such as wafers and substrates are sourced from suppliers like Kyocera and Sumitomo Chemical, which could impact gross margins if costs rise significantly[8]. - The company has a high export ratio, and any appreciation of the RMB against the USD or JPY could lead to exchange losses, adversely affecting profitability[10]. - The ongoing US-China trade tensions may negatively impact the company's sales, particularly as many of its end customers' products are subject to increased tariffs, potentially reducing export revenues[12]. - The company faces exchange rate risks due to imports of raw materials and production equipment primarily settled in JPY and USD, which could increase costs if the RMB depreciates[79]. - The ongoing US-China trade tensions have negatively impacted domestic communication manufacturers, potentially leading to reduced export amounts to the US due to increased tariffs[79]. Strategic Initiatives - The company is implementing fundraising investment projects, but there are risks that these may not achieve expected economic benefits due to various market factors[14]. - The company is focusing on domestic market expansion and accelerating the localization of quartz crystal components to mitigate the impact of the pandemic on exports[80]. - The company plans to quickly complete investment projects to meet the demand for domestic substitution of quartz crystal components and minimize the impact of new depreciation on performance[81]. - The company is actively developing new products such as TSX thermistors and TCXO oscillators, ensuring its continued competitiveness in the market[48]. - The company has established long-term strategic partnerships with suppliers and customers, focusing on social responsibility and community development[91]. Research and Development - The company has advanced technology capabilities, producing high-value-added products like SMD resonators and TCXO oscillators, but faces risks if its R&D does not align with market trends[9]. - Research and development expenses increased by 27.82% to CNY 9,329,346.86, reflecting the company's commitment to innovation and product development[51]. - The company has developed a key technology for high-frequency, miniaturized piezoelectric quartz crystal components based on semiconductor photolithography processes[44]. - The company emphasizes the importance of keeping pace with technological advancements to avoid competitive disadvantages[78]. - The company is actively enhancing research on industry trends and technology frontiers to better understand market demand changes[79]. Production and Operations - The company has successfully launched mass production of SMD2520, SMD2016, and SMD1612 quartz crystal components, with SMD1210 in trial production[36]. - The company has established a strong production capacity for high-frequency and miniaturized piezoelectric quartz crystal components, which are in high demand due to the 5G and IoT trends[48]. - The company has successfully developed and mass-produced several small-sized SMD products, with approximately 80% of electronic component sales revenue coming from products sized 2520 and below[47]. - The shipment volume of SMD resonators, TCXO oscillators, and TSX thermosensitive crystals has significantly increased compared to the same period last year[41]. - The company has implemented effective pandemic control measures, but ongoing global COVID-19 risks could still disrupt operations and affect the quartz crystal component industry[13]. Shareholder and Equity Information - The company has not declared any cash dividends or stock bonuses for the current period, indicating a focus on reinvestment rather than shareholder returns[16]. - The company raised a total of CNY 499,999,989.27 through a stock issuance, with a net amount of CNY 491,547,254.37 after deducting issuance costs[64]. - The total number of shares after the issuance increased to 276,004,251 shares, with the newly issued shares representing 14.64% of the total[122]. - The largest shareholder, Xinjiang Huilun Equity Investment Partnership, holds 21.05% of the shares, totaling 58,090,980 shares[132]. - The company plans to lift restrictions on 40,420,371 shares on November 12, 2021, following the issuance[129]. Environmental and Social Responsibility - The company has achieved ISO14001 environmental management certification and QC080000 certification for green products, ensuring compliance with environmental protection standards[91]. - The company has implemented various public welfare activities, including providing employment opportunities in impoverished areas and support for disabled individuals[91]. - The company does not belong to the key pollutant discharge units and has not faced any administrative penalties for environmental issues during the reporting period[90]. Financial Reporting and Compliance - The company's financial report for the half-year period has not been audited[97]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring the financial statements are true and complete[185]. - The company has not identified any significant doubts regarding its ability to continue as a going concern for the next 12 months[183].

Financial Performance - The company's operating revenue for 2020 was approximately ¥387.84 million, representing a 25.13% increase compared to ¥309.94 million in 2019[21]. - The net profit attributable to shareholders for 2020 was approximately ¥20.20 million, a significant turnaround from a loss of ¥132.95 million in 2019, marking a 115.19% increase[21]. - The net cash flow from operating activities reached approximately ¥76.76 million, a remarkable increase of 1,357.16% from ¥5.27 million in the previous year[21]. - Basic earnings per share for 2020 were ¥0.0858, compared to a loss of ¥0.7901 per share in 2019, reflecting a 110.86% improvement[21]. - Total assets at the end of 2020 amounted to approximately ¥1.06 billion, a 31.14% increase from ¥805.96 million at the end of 2019[21]. - The company's net assets attributable to shareholders increased by 5.68% to approximately ¥553.10 million from ¥523.39 million in 2019[21]. - The company reported a quarterly revenue of approximately ¥141.33 million in Q4 2020, contributing to a total annual revenue growth[23]. - The company achieved a weighted average return on equity of 3.46% in 2020, a significant recovery from -22.54% in 2019[21]. - In 2020, the company achieved operating revenue of 387.84 million yuan, a year-on-year increase of 25.13%[57]. - The net profit attributable to shareholders reached 20.20 million yuan, marking a turnaround from previous losses[57]. - Revenue from electronic components was 348.99 million yuan, accounting for 90.43% of total revenue, with a year-on-year growth of 33.52%[57]. - Sales of miniaturized products generated 220.52 million yuan, representing 63.19% of electronic components revenue, with a growth of 34.64%[57]. - Domestic sales revenue increased by 48.63% to 232.67 million yuan, raising its share of total revenue from 50.51% to 59.99%[61]. Investment and Projects - The total investment for the fundraising project is 331.86 million yuan, with construction investment of 78.26 million yuan[8]. - The company plans to invest approximately ¥1.238 billion in a new semiconductor project in Chongqing over a total construction period of 5 years[63]. - The company has established a project loan of ¥106 million from the Bank of China to support the Chongqing project[63]. - The company is actively pursuing market opportunities through the rapid development of high-frequency products as a new profit growth point[97]. - The company has invested over CNY 30 million in high-frequency crystal oscillator development as of now[106]. - The company plans to increase its production capacity for high-frequency crystal oscillators to 60 million units per month, although progress has been affected by the pandemic[106]. Market and Competition - The company faces risks related to raw material price fluctuations, particularly for key materials sourced from suppliers like Kyocera and Sumitomo Chemical[6]. - The company is exposed to exchange rate risks, especially with imports priced in JPY and USD, and exports also denominated in these currencies[6]. - The company has identified risks associated with intensified market competition and potential technological obsolescence[6]. - The piezoelectric quartz crystal component industry is experiencing growth opportunities due to the acceleration of 5G commercial deployment, with the company positioned to benefit from increased demand for high-frequency, miniaturized components[42]. - Trade frictions have accelerated the import substitution of mid-to-high-end piezoelectric quartz crystal components, with domestic manufacturers actively seeking to replace imported products to ensure supply chain security[43]. - The company is focusing on expanding its market presence and customer base, particularly in the context of domestic substitution trends[58]. Research and Development - The company has focused on the development of surface-mount technology for piezoelectric quartz crystal components, aligning with industry trends[14]. - The company plans to enhance R&D focusing on semiconductor lithography technology to ensure successful industrialization of high-frequency products[97]. - The company is developing new products such as a 5G mobile SMD crystal resonator and an AI hazard identification system to meet customer demands and enhance product competitiveness[78]. - The company has established a product design and development model that involves collaboration between the R&D center, marketing center, supply chain center, quality management center, and manufacturing center to ensure timely product development and quality assurance[36]. - The company’s R&D process includes multiple stages, from design input to product completion, ensuring that products meet customer and regulatory requirements[41]. - The number of R&D personnel increased to 157, representing 19.43% of the total workforce, with R&D investment amounting to ¥30,415,775.66, or 7.84% of revenue[79]. Operational Efficiency - The company has implemented effective measures to ensure normal production and operations despite the impact of the COVID-19 pandemic[7]. - The production capacity and efficiency have significantly improved due to automation and technological upgrades, addressing bottlenecks in output[60]. - The company has established strict quality standards and cost control strategies for raw material procurement, ensuring efficient production processes[35]. - The company has implemented a strict procurement control process to ensure that purchased materials meet quality requirements, with a focus on evaluating supplier capabilities and product quality[38]. Corporate Governance - The company has established a governance structure in compliance with relevant laws and regulations, ensuring no significant discrepancies with the requirements set by regulatory bodies[199]. - The board of directors consists of 9 members, including 3 independent directors, meeting legal and regulatory requirements[200]. - The company has improved its internal management and control systems to enhance governance levels[199]. - The company ensures equal rights for all shareholders, particularly minority shareholders, during general meetings[199]. Environmental and Social Responsibility - The company has obtained international ISO14001 environmental management certification and QC080000 certification for green products, ensuring compliance with SGS standards for harmful substances[147]. - The company has established a secondary wastewater treatment reuse project to enhance energy conservation and environmental protection efforts[150]. - The company aims to build itself into a green factory through effective environmental management practices[150]. - The company actively conducts employee training and supports professional development, enhancing employee skills and capabilities[146]. Shareholder Information - The company has not declared any cash dividends or stock bonuses for the year, maintaining a capital reserve[8]. - The company does not plan to distribute cash dividends or issue new shares for the fiscal year 2020, maintaining a cash dividend ratio of 0%[115]. - The largest shareholder, Xinjiang Huilun Equity Investment Partnership, holds 58,090,980 shares, accounting for 24.66% of total shares[160]. - The company reported no changes in its controlling shareholder during the reporting period[163]. - The actual controller, Zhao Jiqing, remains unchanged and is the chairman of the company[164].

Financial Performance - The company's operating revenue for 2020 was approximately ¥387.84 million, representing a 25.13% increase compared to ¥309.94 million in 2019[21]. - The net profit attributable to shareholders for 2020 was approximately ¥20.20 million, a significant turnaround from a loss of ¥132.95 million in 2019, marking a 115.19% increase[21]. - The net cash flow from operating activities reached approximately ¥76.76 million, a remarkable increase of 1,357.16% from ¥5.27 million in 2019[21]. - Basic earnings per share for 2020 were ¥0.0858, compared to a loss of ¥0.7901 per share in 2019, reflecting a 110.86% improvement[21]. - Total assets at the end of 2020 amounted to approximately ¥1.06 billion, a 31.14% increase from ¥805.96 million at the end of 2019[21]. - The company's net assets attributable to shareholders increased by 5.68% to approximately ¥553.10 million at the end of 2020, up from ¥523.39 million in 2019[21]. - The company reported a weighted average return on equity of 3.46% in 2020, a significant improvement from -22.54% in 2019[21]. - The total operating revenue for 2020 was approximately ¥387.84 million, representing a year-on-year increase of 25.13% compared to ¥309.94 million in 2019[66]. - The electronic components segment generated ¥348.99 million, accounting for 90.43% of total revenue, with a year-on-year growth of 33.52%[66]. - The company achieved a net profit of CNY 290,047.23 from its subsidiary, 惠伦（香港）实业有限公司, despite some subsidiaries showing losses[90]. Investment and Capital Expenditure - The company plans to invest approximately 331.86 million CNY in new projects, with expected first-year depreciation costs of 15.76 million CNY for equipment and 3.72 million CNY for buildings[9]. - The company has established a project investment agreement for a semiconductor-based high-frequency component project in Chongqing, with a total planned investment of approximately ¥1.238 billion over five years[63]. - The company plans to raise up to ¥500 million through a private placement of shares to support the Chongqing project, with expected completion of fundraising by April 2021[63]. - The company reported an investment amount of CNY 249,602,294.72 for the reporting period, representing a 100% increase compared to the previous year[85]. - The company has invested over CNY 30 million in capital expenditures for high-frequency crystal oscillators[99]. Product Development and Innovation - The company has successfully launched mass production of TCXO oscillators and TSX thermistors, expanding its product offerings in the quartz crystal component market[31]. - The company has established an innovation project management guideline to enhance its R&D capabilities and foster technological advancements[37]. - The company’s R&D process includes multiple stages from design input to product completion, ensuring that products meet customer and regulatory requirements[41]. - The company is focusing on expanding its market presence by targeting high-quality downstream customers and enhancing product platform certifications[94]. - The company has developed advanced photolithography technology for high-frequency, miniaturized piezoelectric quartz crystal components, positioning itself among a select group of global competitors[51]. Market Trends and Opportunities - The piezoelectric quartz crystal component industry is experiencing growth opportunities due to the acceleration of 5G technology deployment, with the company positioned to benefit from increased demand for high-frequency, miniaturized components[42]. - The market demand for high-frequency and miniaturized piezoelectric quartz crystal components is expected to grow, driven by the 5G and IoT sectors[56]. - The global quartz crystal industry market size is approximately 3 billion USD, with expectations for growth driven by 5G, WiFi, and IoT applications[97]. - The company anticipates that by 2024, the number of 5G users in China will exceed 1 billion, driving demand for piezoelectric crystal frequency components[91]. Sales and Revenue - The company's overseas sales accounted for 40.01% of total revenue in 2020, making it vulnerable to exchange rate fluctuations, particularly against the USD and JPY[6]. - Revenue from electronic components was 348.99 million yuan, accounting for 90.43% of total revenue, with a year-on-year growth of 33.52%[57]. - Domestic sales revenue reached 232.67 million yuan, a year-on-year increase of 48.63%, raising its share of total revenue from 50.51% to 59.99%[61]. - The combined production and sales of TSX thermistors and TCXO oscillators reached approximately 90 million units in 2020, enhancing cooperation with major clients like Amazon and Xiaomi[46]. Financial Management and Governance - The company has maintained compliance with tax laws and has no records of tax administrative penalties[137]. - The company has implemented labor contracts and complies with labor laws, ensuring no wage arrears[138]. - The company has achieved ISO14001 environmental management certification and adheres to environmental protection standards[139]. - The company has maintained independence from its controlling shareholder in terms of business, personnel, assets, institutions, and finances, ensuring autonomous operational capabilities[193]. - The company actively engages in investor relations management, providing multiple communication channels for investors, including dedicated phone lines and email[192]. Shareholder Information - The total number of shares increased from 168,274,200 to 235,583,880, reflecting an increase of 67,309,680 shares, which is a 39.97% increase[147]. - The largest shareholder, Xinjiang Huilun Equity Investment Partnership, holds 24.66% of the shares, totaling 58,090,980 shares[151]. - The company did not propose any cash dividends or stock bonuses for the year 2020, maintaining a cash dividend ratio of 0.00%[107]. - The company has not distributed any cash dividends in the past three years, maintaining a consistent policy of not issuing dividends[105]. Compliance and Risk Management - The company has received a warning letter from the China Securities Regulatory Commission regarding compliance issues, which it is addressing proactively[179]. - The company has no major litigation or arbitration matters during the reporting period[113]. - The company has no significant related party transactions during the reporting period, including asset or equity acquisitions[119]. - The company reported no major contracts or leasing situations during the reporting period[124].

Financial Performance - The company's operating revenue for Q1 2021 was ¥152,701,227.18, representing a 273.55% increase compared to ¥40,878,129.05 in the same period last year[7] - The net profit attributable to shareholders was ¥42,811,537.42, a significant turnaround from a loss of ¥7,749,265.58 in the previous year, marking a 652.46% increase[7] - Basic and diluted earnings per share were both ¥0.1817, compared to a loss of ¥0.0461 per share in the previous year, reflecting a 494.14% improvement[7] - Operating revenue for the reporting period amounted to RMB 152.70 million, an increase of 273.55% compared to the same period last year, driven by strong demand and increased sales revenue[12] - The net cash flow from operating activities for the reporting period was RMB 40.84 million, a significant increase of 11,750.28% year-on-year, primarily due to increased sales collections[19] - Operating costs for the reporting period were RMB 87.88 million, an increase of 139.89% year-on-year, primarily due to increased sales volume[13] - Financial expenses for the reporting period were RMB 1.54 million, an increase of 308.36% year-on-year, mainly due to increased interest expenses[16] - The company reported a significant increase in prepayments, which rose to ¥33,537,823.79 from ¥3,926,288.66, suggesting a proactive approach to securing future supplies or services[39] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,221,364,302.30, up 15.56% from ¥1,056,893,475.04 at the end of the previous year[7] - The company's total assets increased to ¥1,246,612,651.83 as of March 31, 2021, up from ¥1,072,256,967.79 at the end of 2020[40] - The company's total liabilities rose to ¥652,894,010.67, compared to ¥529,479,949.98 at the end of 2020, indicating increased leverage[40] - The company’s total liabilities increased to CNY 617,655,116.99 from CNY 503,795,423.80 as of December 31, 2020[36] - The company reported an increase in accounts receivable to CNY 213,092,061.94 from CNY 165,042,601.28 as of December 31, 2020[33] Cash Flow - The net cash flow from investing activities was -125,517,829.45 CNY, compared to -36,411,430.02 CNY in the previous period[56] - Cash flow from investing activities shows a net outflow of 194,281,064.05, compared to a net outflow of 36,411,430.02 in the previous period, highlighting significant investment activity[52] - Cash flow from financing activities is 136,786,278.35, up from 7,385,263.34 in the previous period, indicating increased financing efforts[53] - The ending cash and cash equivalents balance is 25,512,102.49, down from 15,488,599.53 in the previous period, indicating a decrease in liquidity[53] Research and Development - Development expenditures increased by 83.32% to ¥9,071,700, mainly due to increased spending on high-frequency product R&D projects[15] - Research and development expenses for Q1 2021 were ¥2,753,670.03, down from ¥5,746,700.00 in the same period last year, indicating a potential shift in R&D strategy[43] - The company is focusing on the development of small-sized, high-frequency devices, maintaining a leading position in technology and product development[29] Market Position and Strategy - The company aims to maintain its leading position in the domestic market by focusing on high-frequency miniaturization to support 5G and IoT applications[27] - The company has established partnerships with well-known domestic and international companies, including Amazon, LG, and several domestic firms such as Honor and Huada Beidou[26] - The company has been collaborating with Japanese manufacturer NPC for the development of ICs required for TCXO products, ensuring a steady supply for production[26] - The global shipment volume for TCXO is approximately 120KK units per month, while TSX is around 200KK units per month, indicating significant market demand[27] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 18,748, with the largest shareholder holding 24.66% of the shares[11] - The net assets attributable to shareholders increased by 9.15% to ¥603,709,185.31 from ¥553,098,051.24 at the end of the previous year[7] Other Information - The company did not undergo an audit for the first quarter report[58] - The company did not apply the new leasing standards for the first quarter of 2021[57]

Financial Performance - Operating revenue for the period was ¥102,158,619.73, representing a 6.73% increase year-on-year[8] - Net profit attributable to shareholders rose by 116.17% to ¥6,148,616.05 for the quarter[8] - The net profit after deducting non-recurring gains and losses surged by 219.89% to ¥5,447,048.46[8] - Basic earnings per share increased by 77.51% to ¥0.0300[8] - Diluted earnings per share rose by 54.44% to ¥0.0261[8] - The company's net increase in cash and cash equivalents rose by 51.33% compared to the same period last year, mainly due to increased net cash inflows from operating and financing activities[17] - The company reported a significant increase in operating income from non-recurring government subsidies, which rose by 1,461.71% compared to the same period last year[16] - The net profit for the third quarter was CNY 6,148,616.05, up from CNY 2,844,342.07 in the same period last year, representing a significant increase[37] - The net profit for the current period was ¥5,710,480.84, compared to ¥3,605,508.52 in the previous period, reflecting a growth of approximately 58.3%[41] - The total comprehensive income for the current period was ¥6,148,616.05, up from ¥2,844,342.07 in the previous period[41] - The company reported a significant increase in operating profit to ¥5,739,646.30 from ¥3,604,276.35, marking a growth of approximately 59.2%[41] - The company’s total comprehensive income attributable to the parent company was ¥10,421,998.62, up from ¥3,124,236.10 in the previous period, reflecting a growth of approximately 233.5%[46] - The net profit for the period was ¥10,060,317.31, significantly up from ¥198,199.74, marking a growth of 4,973.5% year-over-year[50] Assets and Liabilities - Total assets increased by 26.09% to ¥1,016,214,080.12 compared to the end of the previous year[8] - The total assets as of September 30, 2020, were CNY 1,010,740,259.57, compared to CNY 817,296,537.07 at the end of 2019[32] - The total liabilities increased to CNY 479,397,428.86 from CNY 296,014,023.67 year-over-year[33] - The company's total liabilities included short-term borrowings of ¥36,304,235.87 and accounts payable of ¥65,212,726.97[61] - Owner's equity totaled CNY 521,282,513.40, including CNY 168,274,200.00 in share capital and CNY 68,350,370.30 in undistributed profits[66] - The company reported a total asset value of ¥805,957,053.72, with total liabilities at ¥282,569,853.28 and total equity at ¥523,387,200.44[62] Cash Flow - Net cash flow from operating activities increased by 437.84% to ¥23,884,178.11[8] - Cash flow from operating activities generated a net amount of ¥33,549,534.17, up from ¥23,804,389.03, indicating a growth of 40.9%[53] - The total cash inflow from financing activities was ¥241,900,000.00, a significant increase from ¥41,757,407.23 in the previous year[54] - The company reported a net cash outflow from investing activities of ¥214,477,808.76, compared to a net outflow of ¥23,263,718.89 last year, indicating increased investment activities[54] - The cash and cash equivalents at the end of the period were ¥26,693,244.44, down from ¥28,122,248.52, indicating a decrease in liquidity[54] - The total cash and cash equivalents at the end of the period was ¥11,158,019.07, down from ¥30,206,026.15 at the beginning of the period[57] Inventory and Receivables - Trade receivables increased by 332.99% compared to the beginning of the year, primarily due to an increase in bank acceptance bills received from customers[16] - Inventory increased by 35.59% compared to the beginning of the year, as the company increased reserves of key raw materials based on future market forecasts[16] - The company reported inventory of CNY 135,601,173.15 and other receivables of CNY 17,923,977.11[64] Research and Development - The company’s research and development expenses were CNY 2,441,688.81, slightly down from CNY 2,517,109.86 in the previous period[36] - Research and development expenses for the current period were ¥1,467,750.70, slightly down from ¥1,483,914.62 in the previous period[40] - The company reported an increase in research and development expenses to ¥7,530,633.13 from ¥6,743,293.66, highlighting a commitment to innovation[48] Other Financial Metrics - The weighted average return on equity was 1.16%, up from 0.73% in the previous year[8] - The company received government subsidies amounting to ¥2,781,076.22 during the reporting period[9] - The total operating costs amounted to CNY 97,297,447.34, compared to CNY 94,205,993.46 in the prior period[36] - The company's total operating costs were ¥79,671,783.18, compared to ¥70,174,279.02 in the previous period, indicating an increase of approximately 13.5%[40] - The total amount of other payables was CNY 33,536,419.89, which is a key component of current liabilities[65] Changes in Financial Reporting - The company has adjusted its financial statements in accordance with new revenue and leasing standards effective from 2020[58] - The report reflects the first implementation of new revenue and leasing standards starting in 2020, with no retrospective adjustments made[66]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 144,353,891.01, representing a 14.81% increase compared to CNY 125,728,233.74 in the same period last year[21]. - The net profit attributable to shareholders was CNY 4,273,382.57, a significant increase of 1,426.79% from CNY 279,894.03 in the previous year[21]. - The basic earnings per share rose to CNY 0.0181, up 964.71% from CNY 0.0017 in the same period last year[21]. - The total assets at the end of the reporting period were CNY 874,881,733.03, an increase of 8.55% from CNY 805,957,053.72 at the end of the previous year[21]. - The company experienced a net cash flow from operating activities of CNY 9,665,356.06, which is a decrease of 68.69% compared to CNY 30,873,959.54 in the previous year[21]. - The company reported a government subsidy of CNY 2,983,310.11, after tax effects, resulting in a total of CNY 2,535,813.59 recognized as non-recurring gains[25][26]. - The weighted average return on net assets was 0.81%, an increase of 0.77% compared to 0.04% in the previous year[21]. - The total profit reached 4.33 million yuan, up 600.97% year-on-year[41]. - The total comprehensive income for the period was CNY 4,349,836.47, a decrease of CNY 3,407,308.78 compared to the previous period[146]. Market and Product Strategy - The average selling price of the company's main product, piezoelectric quartz crystal resonators, is showing a downward trend due to intensified market competition, which may adversely affect profitability if costs cannot be effectively reduced[4]. - The company plans to diversify its product offerings by developing new devices such as oscillators to create new profit growth points, as the current main business is relatively singular[5]. - The company has expanded its subsidiary's business into the security IoT monitoring field, which will help mitigate risks associated with a single main business[5]. - The company has shifted its business focus from primarily exports to a balance between exports and domestic sales, leveraging opportunities from the rapid growth of the domestic 5G market[31]. - The company is focusing on 5G and IoT technologies, emphasizing miniaturization and high-frequency product development[42]. - The company has made significant investments in equipment and technology for high-frequency chip development[42]. - The company aims to enhance the promotion of the YL brand domestically and internationally, striving to synchronize with international advanced levels in miniaturization and high-frequency technology[71]. Risks and Challenges - The company is facing risks related to the COVID-19 pandemic, including potential shortages and price fluctuations of raw materials sourced from Japan, which could impact production[6]. - The company warns of potential market risks due to global economic downturns caused by the pandemic, which could lead to significant declines in product sales and net profits[7]. - The company is exposed to financial risks from currency fluctuations, particularly in the procurement of raw materials and equipment, as well as in product exports, which are primarily settled in JPY and USD[6]. - The company has identified risks related to rapid market changes and technological iterations, emphasizing the need for timely adjustments in production and product development[64]. - The company is actively working on localizing raw material procurement to mitigate risks associated with supply chain disruptions caused by the COVID-19 pandemic[63]. - The company faces risks from declining product prices due to increased market competition, which could adversely affect profitability if costs are not effectively managed[62]. Talent and Management - The company emphasizes the importance of retaining talent to support its growth, implementing measures to prevent the loss of key personnel[7]. - The company has established a strong management and R&D team, enhancing its innovation capabilities and maintaining a leading position in the domestic market for miniaturized products[34]. - The company is implementing measures to retain talent and prevent turnover, which is critical for maintaining its competitive edge in a technology-intensive industry[65]. Financial Management - The company will not distribute cash dividends or issue bonus shares, indicating a focus on reinvestment[8]. - The company has approved a financial derivatives trading plan with a total limit not exceeding 200 million yuan to hedge against exchange rate and interest rate fluctuations[82]. - The company has committed to maintaining strict control over financial derivatives-related business to avoid high-risk activities[82]. - The company reported a total guarantee amount of 1,000 million CNY, with an actual guarantee amount of 140 million CNY during the reporting period, representing 0.27% of the company's net assets[96]. Inventory and Assets - The company's inventory increased by 25.85% compared to the beginning of the period, mainly due to an increase in raw material reserves[33]. - The company's cash and cash equivalents decreased by 46.08% compared to the beginning of the period, primarily due to increased prepayments for raw materials and repayment of financing lease principal and interest[33]. - The company's construction in progress increased by 730.11% compared to the beginning of the period, primarily due to the installation and debugging of production line equipment[32]. - The total assets of the company increased to CNY 888,494,453.17 from CNY 817,296,537.07, reflecting a growth of 8.69%[138]. Shareholder Information - The total number of shares increased from 168,274,200 to 235,583,800 due to an increase of 67,309,680 shares[108]. - The total number of common shareholders at the end of the reporting period is 21,193[111]. - Xinjiang Huilun Equity Investment Partnership holds 24.66% of shares, totaling 58,090,980 shares[112]. - The company did not conduct any repurchase transactions among the top 10 shareholders during the reporting period[112]. - There were no changes in the controlling shareholder or actual controller during the reporting period[113]. Compliance and Governance - The company has passed international ISO14001 environmental management certification and QC080000 certification for green products, ensuring compliance with environmental protection standards[101]. - The company did not report any significant changes in shareholder structure or stock ownership during the reporting period[109]. - The company has not experienced any major litigation or arbitration matters during the reporting period[81].

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 144,353,891.01, representing a 14.81% increase compared to CNY 125,728,233.74 in the same period last year[21]. - The net profit attributable to shareholders for the first half of 2020 was CNY 4,273,382.57, a significant increase of 1,426.79% from CNY 279,894.03 in the previous year[21]. - The net cash flow from operating activities decreased by 68.69% to CNY 9,665,356.06, down from CNY 30,873,959.54 in the same period last year[21]. - The basic earnings per share for the first half of 2020 was CNY 0.0181, up 964.71% from CNY 0.0017 in the previous year[21]. - The total profit reached 4.33 million yuan, up 600.97% year-on-year[46]. - The total comprehensive income for the period was CNY 4,273,382.57, reflecting a significant increase[138]. - The total comprehensive income for the first half of 2020 was 4,349,836.00 CNY, reflecting a decrease of 67,309.00 CNY compared to the previous period[158]. Market and Product Development - The average selling price of the company's main product, piezoelectric quartz crystal resonators, is declining due to intensified market competition, which may adversely affect profitability if costs cannot be effectively reduced[4]. - The company plans to diversify its product offerings by developing new devices such as oscillators to create new profit growth points, while its subsidiary is expanding into the security IoT market[5]. - The company has shifted its business focus from primarily exports to a balance between exports and domestic sales, leveraging opportunities from the rapid growth of the domestic 5G market[31]. - The company is focusing on 5G and IoT technologies, emphasizing miniaturization and high-frequency product development[42]. - The demand for miniaturized and high-frequency piezoelectric crystal frequency components is expected to surge with the advent of the 5G era, benefiting the company's technological and product advantages[39]. - The company has made breakthroughs in improving the yield of high-frequency crystal oscillators, which are crucial for 5G applications[70]. - The company plans to gradually achieve a production capacity of 60 million (monthly capacity of 50KK) photolithography crystals within the next 1-2 years, although progress has been affected by the pandemic[71]. Supply Chain and Risk Management - The company has faced risks related to the COVID-19 pandemic, including potential shortages of raw materials sourced from Japan and impacts on downstream market demand due to global economic downturns[6]. - The company is actively working on localizing the procurement of key raw materials to mitigate supply chain risks caused by the pandemic[6]. - The company is exposed to financial risks related to currency fluctuations, particularly with imports priced in JPY and USD, and exports also denominated in these currencies[7]. - The company acknowledges the potential risk of a significant decline in product sales and net profit due to the global economic recession caused by the pandemic[7]. - The company is monitoring market trends and adjusting its business strategies to capture new opportunities in the 5G and IoT sectors[64]. Talent and Human Resources - The company emphasizes the importance of retaining high-quality talent to support its growth and has implemented measures to prevent talent loss[7]. - The company has established a strong management and R&D team, significantly enhancing its innovation capabilities and maintaining a leading position in the domestic market for miniaturized products[34]. Financial Management and Investments - The company does not plan to distribute cash dividends or issue bonus shares for the current period[8]. - The company has approved a financial derivatives trading business with a total limit not exceeding 200 million yuan to hedge against exchange rate and interest rate fluctuations due to the global pandemic[82]. - The company has committed to maintaining strict control and approval over financial derivatives-related business to avoid high-risk activities[82]. - The company reported a total guarantee amount of 1,000 million CNY, with an actual guarantee amount of 140 million CNY during the reporting period, representing 0.27% of the company's net assets[96]. Operational Challenges - The company has identified risks related to the COVID-19 pandemic affecting supply chains and market demand, which could impact operational performance[63]. - The company reported a significant net loss of 884,130.5 in one of its subsidiaries, indicating challenges in that segment[61]. - The company faced risks of declining product prices due to increased market competition, which could adversely affect profitability[62]. Corporate Governance and Compliance - The company has not experienced any major litigation or arbitration matters during the reporting period[81]. - There were no significant related party transactions during the reporting period, including daily operations, asset or equity acquisitions, and joint external investments[88]. - The company has not implemented any stock incentive plans or employee shareholding plans during the reporting period[91]. - The semi-annual financial report was not audited[125]. Future Outlook - Future outlook remains cautiously optimistic, with a focus on maintaining equity levels and managing risks effectively[152]. - The company has plans for market expansion, although specific strategies were not detailed in the report[152].