Financial Performance - Revenue for Q3 2022 was CNY 101,950,054.80, a decrease of 47.52% compared to the same period last year[5] - Net profit attributable to shareholders was CNY 3,870,352.23, down 92.27% year-on-year[5] - Basic earnings per share decreased by 92.36% to CNY 0.0139[5] - Total operating revenue for the current period is ¥340,979,751.63, a decrease of 35.4% compared to ¥527,492,947.96 in the previous period[21] - Net profit for the current period is ¥10,103,966.62, a significant decline of 92.7% from ¥138,108,465.20 in the previous period[22] - Basic and diluted earnings per share for the current period are both ¥0.0362, compared to ¥0.5352 in the previous period[23] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,991,211,142.09, a decrease of 0.46% from the end of the previous year[5] - Total current assets as of September 30, 2022, amount to ¥796,038,636.12, an increase from ¥783,886,238.64 at the beginning of the year[18] - Total liabilities as of September 30, 2022, are ¥788,307,440.61, slightly decreased from ¥791,594,499.18 at the beginning of the year[19] - Total non-current assets decreased to ¥1,195,172,505.97 from ¥1,216,524,356.07[19] - The company's total equity as of September 30, 2022, is ¥1,202,903,701.48, a slight decrease from ¥1,208,816,095.53 at the beginning of the year[20] Cash Flow - Cash flow from operating activities increased by 84.67% to CNY 117,331,569.77 year-to-date[5] - Cash flow from operating activities for the current period is ¥117,331,569.77, an increase of 84.5% from ¥63,534,532.84 in the previous period[23] - Cash flow from investing activities shows a net outflow of ¥149,858,275.25, compared to a net outflow of ¥642,043,434.00 in the previous period[24] - Cash flow from financing activities results in a net outflow of ¥15,310,203.53, a decrease from a net inflow of ¥659,029,790.40 in the previous period[24] - The ending cash and cash equivalents balance is ¥85,551,039.54, down from ¥121,938,684.13 in the previous period[24] - The company's cash and cash equivalents decreased to ¥85,551,039.54 from ¥117,782,627.80 at the beginning of the year[18] Shareholder Information - Total number of common shareholders at the end of the reporting period is 33,339[15] - The largest shareholder, Xinjiang Huilun Equity Investment Partnership, holds 20.66% of shares, amounting to 57,650,980 shares, with 31,803,200 shares pledged[15] Research and Development - Research and development expenses increased by 59.97% compared to the same period last year[11] - Research and development expenses increased to ¥22,639,566.63, up from ¥14,152,677.51 in the previous period, reflecting a focus on innovation[21] Other Income and Expenses - Other income increased by 59.71% year-on-year, mainly due to government subsidies[12] - The company reported a 431.23% increase in non-operating expenses, primarily due to donations[12] - The company experienced a 35.36% decrease in revenue compared to the same period last year, attributed to weak downstream demand and falling product prices[11] - Accounts receivable increased to ¥270,729,125.48 from ¥182,291,656.51 at the beginning of the year, indicating a growth of 48.5%[18] - Inventory increased to ¥395,737,022.87 from ¥294,105,725.62, reflecting a growth of 34.5%[18] - The company reported a decrease in undistributed profits to ¥178,872,926.77 from ¥193,879,342.74[20]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥239,029,696.83, a decrease of 28.27% compared to ¥333,212,329.77 in the same period last year[27]. - The net profit attributable to shareholders of the listed company was ¥6,233,614.39, down 92.92% from ¥88,065,242.54 in the previous year[27]. - The net profit after deducting non-recurring gains and losses was ¥2,031,333.14, a decline of 97.61% compared to ¥84,896,458.69 in the same period last year[27]. - Basic earnings per share were ¥0.0223, down 93.69% from ¥0.3536 in the same period last year[27]. - Operating profit for the company was 9.50 million yuan, down 90.09% year-on-year[47]. - The decline in revenue and profit was primarily due to the repeated pandemic and strict controls, leading to a significant drop in orders for consumer electronics and communication markets[48]. - The total comprehensive income for the first half of 2022 was CNY 4,717,166.06, a decrease of 94.66% compared to CNY 88,123,212.16 in the same period of 2021[159]. Cash Flow and Investments - The net cash flow from operating activities increased by 120.65% to ¥79,582,722.82 from ¥36,067,125.18 in the previous year[27]. - The company reported a net cash outflow from investing activities of ¥132,608,265.65, a 72.38% improvement compared to the previous year, due to reduced project investments[56]. - Cash and cash equivalents decreased by 87.49% to ¥18,781,531.37, primarily due to a reduction in equity and debt financing[56]. - The company reported a cash flow from investing activities net outflow of CNY 132,608,265.65, compared to an outflow of CNY 480,045,565.43 in the first half of 2021[162]. - The cash flow from financing activities generated a net inflow of CNY 65,366,208.80, a decrease of 89.00% from CNY 594,484,916.52 in the same period of 2021[162]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,050,447,891.10, an increase of 2.50% from ¥2,000,410,594.71 at the end of the previous year[27]. - The company's total liabilities as of June 30, 2022, were CNY 829,335,499.90, up from CNY 791,594,499.18, reflecting an increase of about 4.8%[148]. - The company's equity attributable to shareholders rose to CNY 1,221,112,391.20 from CNY 1,208,816,095.53, indicating a growth of about 1.0%[148]. - The company's inventory balance at the end of the reporting period was 391.8552 million yuan, an increase of 33.24% from the beginning balance of 294.1057 million yuan, primarily due to increased production capacity and delayed deliveries from downstream customers[87]. Research and Development - Research and development expenses increased by 72.62% to ¥16,104,210.70, attributed to increased investment in new product development[56]. - The company is committed to enhancing its research and development capabilities to maintain its competitive edge in the market[84]. - The company aims to enhance its market competitiveness by continuously developing smaller, higher-frequency, and higher-precision products, including TCXO oscillators and TSX temperature-compensated crystals[43]. Market Position and Strategy - The company has been recognized as a "little giant" in the specialized and innovative sector, leading the domestic market in MHz piezoelectric quartz crystal components[39]. - The company is strategically expanding into emerging industries such as automotive electronics, industrial control, and IoT modules, gaining recognition from leading enterprises in these sectors[48]. - The company plans to expand its market share by exploring new customer segments beyond the consumer electronics industry[82]. - The company is positioned to benefit from the national "14th Five-Year Plan," which emphasizes the acceleration of 5G network deployment and the development of the Internet of Things[35]. Operational Risks and Compliance - The company faces various operational risks, which are detailed in the report[5]. - The company is facing risks from macroeconomic fluctuations, particularly due to the ongoing impact of the COVID-19 pandemic, which could affect demand for electronic products[82]. - The company has maintained compliance with environmental regulations and achieved ISO14001 certification, indicating a commitment to sustainable practices[97]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[97]. Shareholder Information - The company has a total of 279,004,251 shares, all of which are unrestricted shares[129]. - The largest shareholder, Xinjiang Huilun Equity Investment Partnership, holds 20.66% of shares, totaling 57,650,980 shares, with a decrease of 440,000 shares during the reporting period[132]. - The total number of shares held by the top 10 unrestricted shareholders amounts to 99,000,000 shares[134]. - The proportion of pledged shares by the largest shareholder reaches 80% of their total holdings[136]. Miscellaneous - The company has not made any changes to the fundraising projects during the reporting period[73]. - The company has not reported any significant changes in its accounting policies regarding derivative investments compared to the previous reporting period[76]. - The financial report for the first half of 2022 was not audited, which may impact the reliability of the financial data presented[144].

Financial Performance - The company's operating revenue for the first half of 2022 was ¥239,029,696.83, a decrease of 28.27% compared to ¥333,212,329.77 in the same period last year[27]. - The net profit attributable to shareholders was ¥6,233,614.39, down 92.92% from ¥88,065,242.54 in the previous year[27]. - The net profit after deducting non-recurring gains and losses was ¥2,031,333.14, a decline of 97.61% compared to ¥84,896,458.69 in the same period last year[27]. - Basic and diluted earnings per share were both ¥0.0223, a decrease of 93.69% from ¥0.3536 in the same period last year[27]. - Operating profit for the company was 9.50 million yuan, down 90.09% year-on-year[50]. - The decline in revenue and profit was primarily due to the impact of recurring COVID-19 outbreaks and strict controls, leading to a significant drop in orders for consumer electronics and communication markets[50]. - The company reported a total comprehensive income of CNY 4,717,166.06 for the first half of 2022, compared to CNY 88,123,212.16 in the same period of 2021, marking a decline of approximately 94.65%[161]. Cash Flow and Investments - The net cash flow from operating activities increased by 120.65% to ¥79,582,722.82, compared to ¥36,067,125.18 in the previous year[27]. - The net cash flow from investment activities improved by 72.38%, amounting to -¥132,608,265.65, due to a reduction in project investments[59]. - The company's cash and cash equivalents decreased by 87.49% to ¥18,781,531.37, primarily due to reduced equity and debt financing[59]. - The company incurred a net cash outflow from investing activities of CNY 132,608,265.65 in the first half of 2022, compared to a net outflow of CNY 480,045,565.43 in the same period of 2021[164]. - The financing activities generated a net cash inflow of CNY 65,366,208.80 in the first half of 2022, a decrease from CNY 594,484,916.52 in the same period of 2021, reflecting a decline of approximately 89.00%[164]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,050,447,891.10, an increase of 2.50% from ¥2,000,410,594.71 at the end of the previous year[27]. - Total liabilities increased to CNY 829,335,499.90 from CNY 791,594,499.18, representing a growth of about 4.8%[150]. - The company's short-term borrowings rose to CNY 327,781,707.74 from CNY 232,087,510.23, indicating an increase of approximately 41.2%[149]. - The total equity attributable to shareholders increased to CNY 1,221,112,391.20 from CNY 1,208,816,095.53, reflecting a growth of approximately 1.0%[150]. Research and Development - Research and development expenses increased by 72.62% to ¥16,104,210.70, attributed to increased investment in new product development[59]. - The company is focusing on the development of high-precision, low-power, and miniaturized Beidou chips and key components to support the integration of Beidou with 5G and IoT technologies[36]. - The company has established a strong management and R&D team, with advanced technology and production systems, enabling significant product innovation capabilities[53]. Market Position and Strategy - The company has been a leader in the MHz piezoelectric quartz crystal component industry for over 20 years, recognized as a national "specialized and innovative" small giant[39]. - The company is strategically expanding into emerging industries such as automotive electronics, industrial control, and IoT modules, gaining recognition from leading enterprises in these sectors[51]. - The company plans to continue expanding its market presence and investing in new technologies[170]. - The company aims to enhance shareholder value through strategic investments and operational efficiencies in the upcoming quarters[172]. Risk Management - The management has outlined potential risks and corresponding measures in the report, emphasizing the importance of investor awareness[5]. - The company is facing significant risks due to macroeconomic fluctuations, which could impact performance if the COVID-19 pandemic continues to affect global markets[85]. - The company has identified risks related to product price fluctuations, particularly for its core piezoelectric quartz crystal components, which may affect profitability if prices decline further[87]. - The company is committed to closely monitoring market trends and adapting to changes in the macroeconomic environment to mitigate risks[85]. Corporate Governance and Compliance - The company has not engaged in any entrusted loans, reflecting a conservative financial strategy[81]. - The company has maintained compliance with tax laws and has no records of tax administrative penalties, benefiting from high-tech enterprise income tax incentives[102]. - The financial statements are prepared based on actual transactions and in accordance with the accounting standards issued by the Ministry of Finance, ensuring a true and complete reflection of the company's financial status as of June 30, 2022[186].

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]