Financial Performance - The company's operating revenue for the first half of 2020 was ¥77,902,615.44, a decrease of 27.88% compared to ¥108,019,227.16 in the same period last year[29]. - The net profit attributable to shareholders was a loss of ¥12,924,615.22, representing a decline of 284.03% from a profit of ¥7,023,147.00 in the previous year[29]. - The net profit after deducting non-recurring gains and losses was a loss of ¥15,547,445.02, down 385.09% from ¥5,453,453.57 in the same period last year[29]. - The net cash flow from operating activities was a negative ¥8,678,268.02, worsening by 52.81% compared to a negative ¥5,678,944.49 in the previous year[29]. - Basic earnings per share were -¥0.08, a decrease of 260.00% from ¥0.05 in the same period last year[29]. - The company's total assets at the end of the reporting period were ¥821,497,939.02, down 4.49% from ¥860,129,687.87 at the end of the previous year[29]. - The net assets attributable to shareholders were ¥663,627,633.45, a decrease of 1.91% from ¥676,552,248.67 at the end of the previous year[29]. - The weighted average return on net assets was -1.93%, a decline of 3.58% compared to 1.65% in the previous year[29]. Accounts Receivable and Inventory Management - The company's accounts receivable at the end of the reporting period amounted to 225.84 million yuan, a decrease of 6.94% compared to the beginning of the period[6]. - Inventory at the end of the reporting period was 91.82 million yuan, an increase of 17.83% from the beginning of the period, primarily due to preparations for sales in the second half of the year[10]. - The company has implemented strict accounts receivable management to mitigate risks associated with delayed payments and bad debts[6]. - The company plans to enhance inventory management to reduce liquidity risks associated with increased inventory levels[11]. Research and Development - The company is focusing on R&D to maintain its technological advantage and improve product competitiveness, with an emphasis on aligning R&D with market demand[8]. - The company has maintained a research and development investment of 24.01% of revenue in the first half of 2020, with R&D expenditures of approximately 18.71 million yuan[56]. - The company has accumulated 91 patents and 41 software copyrights, showcasing its strong focus on technological innovation[56]. - The company has a dedicated team of 154 R&D personnel, accounting for 26.51% of its total workforce, enhancing its innovation capabilities[56]. - Research and development expenses increased to CNY 18,706,392.44 in the first half of 2020, up from CNY 16,170,388.19 in the first half of 2019, indicating a focus on innovation[165]. Market Strategy and Expansion - The company is focusing on the development of new energy vehicle charging stations and related technologies as part of its market expansion strategy[22]. - The company aims to expand its market presence in high-end sectors such as smart grids, electric vehicles, and military equipment[57]. - The company is positioned to benefit from the ongoing investment in smart grid infrastructure, particularly with the increasing demand for direct current power systems and integrated power supply systems[44]. - The national investment plan for power distribution network upgrades is projected to inject at least 2 trillion yuan into the industry, providing strong momentum for the company’s growth in the power automation sector[44]. Risks and Challenges - The company is facing risks of declining gross margins due to increased competition in the electric vehicle and military power supply sectors[9]. - The company faces risks related to industry policy changes that could impact its profitability, particularly in the new energy vehicle and military equipment sectors[90]. - The company is closely monitoring the operational status of goodwill-related businesses to mitigate potential impairment risks[13]. - The company has established a profit compensation and performance reward agreement to mitigate risks associated with the performance of its subsidiary, Hohwei Power[96]. Shareholder Information - The largest shareholder, 贾彤颖, holds 28,757,002 shares, representing 17.89% of the total shares[138]. - 马晓峰, the second-largest shareholder, holds 24,005,754 shares (14.93%), with 6,001,439 shares pledged[138]. - The total number of shareholders at the end of the reporting period was 12,648[138]. - The company has a total of 42,550,060 restricted shares, with 3,295,289 shares released during the reporting period[136]. Financial Management and Compliance - The financial report was approved by the board of directors on August 26, 2020, ensuring compliance with accounting standards[195]. - The financial statements are prepared based on actual transactions and events, adhering to the accounting policies established by the Ministry of Finance[196]. - The company has no significant doubts regarding its ability to continue as a going concern for the next 12 months[197]. - The semi-annual financial report has not been audited[104].

石家庄通合电子科技股份有限公司 2020 年第一季度报告全文 石家庄通合电子科技股份有限公司 2020 年第一季度报告 2020-023 2020 年 04 月 1 石家庄通合电子科技股份有限公司 2020 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人马晓峰、主管会计工作负责人刘卿及会计机构负责人(会计主管 人员)赵玉章声明：保证季度报告中财务报表的真实、准确、完整。 2 石家庄通合电子科技股份有限公司 2020 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业总收入（元） | 14,537,675.06 | 43,850,669.11 | -66.85% | | 归属于上市公司股东的净利润（元） | -16 ...

Financial Performance - The company reported a total revenue of RMB 500 million for the fiscal year 2019, representing a year-on-year growth of 15%[21]. - The net profit attributable to shareholders was RMB 80 million, an increase of 10% compared to the previous year[21]. - The company's operating revenue for 2019 was ¥276,716,689.50, representing a 70.83% increase compared to ¥161,987,384.70 in 2018[28]. - The net profit attributable to shareholders for 2019 was ¥30,009,227.48, a significant increase of 311.85% from a loss of ¥14,165,214.25 in 2018[28]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥22,488,165.13, up 200.12% from a loss of ¥22,460,561.74 in 2018[28]. - The company achieved total operating revenue of CNY 276.72 million, a year-on-year increase of 70.83%[67]. - Net profit attributable to shareholders reached CNY 30.01 million, up 311.85% compared to the previous year[67]. - The gross profit margin significantly improved, and the company effectively reduced asset impairment losses compared to the previous year[67]. Accounts Receivable and Inventory Management - The company's accounts receivable amounted to 242.68 million yuan at the end of the reporting period, representing a 114.18% increase compared to the beginning of the period, primarily due to the expansion of the consolidated financial statement scope[7]. - The company's inventory at the end of the reporting period was 77.92 million yuan, up 93.31% from the beginning of the period, indicating a significant increase in inventory levels[11]. - The company has implemented a policy of "production based on sales" to manage inventory effectively and reduce liquidity risks associated with excess stock[12]. - The company has committed to strict accounts receivable management to mitigate risks, including evaluating customer creditworthiness and enhancing collection efforts on overdue accounts[7]. Research and Development - The company plans to maintain its competitive edge by increasing R&D investment and focusing on core technology innovation to address potential risks in product development and market demand[9]. - The company has allocated RMB 50 million for research and development in 2020, focusing on advanced power conversion technologies[21]. - The company's R&D investment for 2019 was 36.21 million yuan, accounting for 13.09% of total revenue, reflecting a commitment to technological innovation[56]. - The company has accumulated 80 patents and 41 software copyrights, showcasing its strong focus on R&D and innovation capabilities[56]. - The company focuses on technological innovation and product innovation in the power electronics industry[109]. Market Expansion and Strategic Initiatives - The company plans to expand its market presence by entering three new provinces in 2020, aiming for a 25% increase in market share[21]. - A strategic acquisition of a competitor is anticipated to be completed by Q2 2020, which is expected to enhance the company's product offerings and market reach[21]. - The company is actively pursuing partnerships with local governments to support the development of new energy infrastructure projects[21]. - The company aims to enhance its market share and profitability by focusing on high-end specialized fields in 2020[110]. - The company will integrate and expand its military equipment business through its wholly-owned subsidiary, Huwei Power[112]. Risk Management - The company is exposed to risks of declining gross margins due to increased competition in the electric vehicle and military power supply sectors, necessitating ongoing innovation and management improvements[10]. - The company is closely monitoring the operational status of its goodwill-related businesses to mitigate potential impairment risks[14]. - The company has established a profit compensation agreement to protect shareholder interests in case of unmet performance commitments from Hohui Power[13]. - The company has implemented strict accounts receivable management to mitigate the risk of bad debts and improve cash flow[116]. Shareholder and Dividend Policies - The company reported no cash dividends or stock bonuses for the current period, indicating a focus on capital preservation[15]. - The company will not distribute dividends for the 2018 fiscal year due to negative net profit and operating cash flow[123]. - The company reported a distributable profit of ¥122,284,497.86 for the year 2019, with a cash dividend total of ¥0.00, representing 0.00% of the total profit distribution[126]. - The company has not proposed any cash dividends, stock bonuses, or capital reserve transfers for the years 2018 and 2019, aligning with its future funding plans and development strategies[127]. Acquisitions and Business Development - The company completed the acquisition of 100% equity in Xi'an Howey Power Co., Ltd., which is now included in the consolidated financial statements[152]. - The company completed the acquisition of Hohwei Power, which became a wholly-owned subsidiary, enhancing operational capabilities and financial strength[69]. - The company acquired Xi'an Howey Power Supply Co., Ltd. in February 2019, expanding its business into smart grid, new energy vehicles, and military equipment sectors[38]. - The company completed the acquisition of assets from Hohwei Power, with the asset transfer approved by the China Securities Regulatory Commission[191]. Operational Efficiency and Management - The company has implemented a new incentive plan aimed at retaining key talent, which is expected to improve operational efficiency[21]. - The company intends to improve operational efficiency and management capabilities through target management and human resource optimization[111]. - The company has a stable and efficient core management team, which enhances its operational effectiveness and industry insight[58]. Compliance and Governance - The company has maintained compliance with all commitments made to minority shareholders during the reporting period[147]. - The company has not engaged in any related party transactions that would affect its financial integrity[148]. - The company has ensured that all financial reporting adheres to the latest accounting standards and formats as mandated by the Ministry of Finance[150].

Financial Performance - Net profit attributable to shareholders reached ¥12,109,972.31, a staggering increase of 18,573.44% year-on-year[7] - Operating revenue for the period was ¥75,696,821.98, reflecting a year-on-year growth of 78.99%[7] - The net profit after deducting non-recurring gains and losses was ¥11,363,863.15, up 856.64% compared to the same period last year[7] - Basic earnings per share rose to ¥0.0751, an increase of 18,675.00% year-on-year[7] - Operating profit for Q3 2019 was ¥12,875,797.74, compared to a loss of ¥161,321.57 in Q3 2018, indicating a strong turnaround[40] - Net profit for Q3 2019 was ¥12,109,972.31, a substantial increase from ¥64,851.32 in the previous year, reflecting improved operational efficiency[40] - The net profit for the year-to-date period was ¥19,133,119.31, compared to ¥3,242,738.94 in the same period last year, marking an increase of 487.5%[49] - Basic and diluted earnings per share for the year-to-date period were both ¥0.1213, up from ¥0.0223 in the previous year[49] Assets and Liabilities - Total assets increased to ¥843,116,232.35, a growth of 63.39% compared to the end of the previous year[7] - The company's total assets reached ¥843,116,232.35, up from ¥516,015,075.93 at the end of 2018, marking a 63.30% increase[32] - The total current assets increased by 40.00% to ¥450,602,296.00 from ¥321,873,810.85 at the end of 2018[30] - The total liabilities increased by 73.50% to ¥177,375,663.85 from ¥102,259,038.12 year-over-year[31] - Total liabilities decreased to ¥94,351,341.93 from ¥102,236,886.54 year-over-year, indicating improved financial health[36] - The company's equity increased to ¥646,882,345.09, compared to ¥413,262,571.47 in the previous year, reflecting strong retained earnings[37] Cash Flow - The net cash flow from operating activities was -¥13,114,502.19, a decrease of 76.77% compared to the same period last year[7] - Cash flow from operating activities showed a net outflow of ¥13,114,502.19, an improvement from the previous outflow of ¥56,463,610.21[57] - The net cash flow from operating activities for Q3 2019 was ¥8,573,762.45, a significant improvement compared to a net outflow of ¥56,093,773.33 in the same period last year[60] - Total cash inflow from operating activities was ¥97,638,268.32, while total cash outflow was ¥89,064,505.87, resulting in a positive cash flow[60] - The net cash flow from investing activities was -¥28,558,027.77, an improvement from -¥42,968,407.48 year-over-year[60] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 13,410[11] - Major shareholder 贾彤颖 holds 17.89% of the shares, with a total of 28,757,002 shares[11] Research and Development - Research and development expenses increased by 37.90% to ¥23,591,853.56 from ¥17,108,464.46, reflecting the company's commitment to innovation[19] - Research and development expenses for Q3 2019 were ¥7,421,465.37, up from ¥4,727,586.57 in the same period last year, highlighting a commitment to innovation[39] - R&D expenses increased to ¥19,323,783.43 from ¥17,108,464.46, reflecting a growth of approximately 12.9% year-over-year[52] Management and Governance - The company appointed new senior management, including a new CFO, effective August 20, 2019[21] - There were no violations regarding external guarantees during the reporting period[24] - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[25] Other Financial Metrics - The company received government subsidies amounting to ¥2,774,174.48, primarily from various levels of government in Hebei Province[8] - The company's cash dividends distributed decreased by 76.60% to ¥680,270.04 compared to the previous period[20] - The company reported a significant increase in sales expenses, which rose to ¥15,620,648.80 from ¥11,194,600.09 in the previous year[46] - The financial expenses for the year-to-date period were ¥320,693.57, compared to a negative financial expense of -¥1,646,233.18 in the previous year[46] - The company received tax refunds amounting to ¥3,661,339.20, compared to ¥4,850,662.06 in the previous period[56]

Financial Performance - Total revenue for the first half of 2019 reached ¥108,019,227.16, representing a 59.36% increase compared to ¥67,782,527.18 in the same period last year [27]. - Net profit attributable to shareholders was ¥7,023,147.00, a significant increase of 121.00% from ¥3,177,887.62 year-on-year [27]. - The net profit after deducting non-recurring gains and losses surged to ¥5,453,453.57, up 2,533.70% from ¥207,064.38 in the previous year [27]. - The company's total assets increased by 57.82% to ¥814,358,783.11 from ¥516,015,075.93 at the end of the previous year [27]. - Net assets attributable to shareholders rose by 57.97% to ¥653,630,596.19 compared to ¥413,756,037.81 at the end of the last fiscal year [27]. - Basic earnings per share improved to ¥0.0458, reflecting an increase of 108.18% from ¥0.0220 in the same period last year [27]. - The weighted average return on net assets was 1.65%, up from 0.74% in the previous year, indicating improved profitability [27]. - The net cash flow from operating activities showed a significant improvement, with a net outflow of ¥5,678,944.49, a 90.70% reduction from a net outflow of ¥61,060,584.23 in the previous year [27]. Acquisition and Goodwill - The company has completed the acquisition of Hohui Power, with performance commitments for 2019 and 2020, and has established a profit compensation agreement to mitigate acquisition risks [11]. - The company acknowledges the potential risk of goodwill impairment related to the acquisition of Hohui Power if future performance does not meet expectations [12]. - The company completed the acquisition of 100% equity in the target company, with 16,099,103 new shares issued, increasing registered capital from ¥145,153,800 to ¥161,252,903 [26]. - The company’s goodwill increased to ¥188,740,722.30, representing 23.18% of total assets, primarily due to the acquisition of Hohui Power [86]. - The company has signed a profit compensation and performance reward agreement to mitigate risks associated with the performance commitments of Hohui Power [103]. - The company completed the acquisition of Hohui Power on February 25, 2019, enhancing its operational capabilities and market position [75]. Research and Development - The company has committed to increasing R&D investment to enhance its technological advantages and product competitiveness in the high-frequency switching power supply sector [7]. - The company is committed to aligning its R&D efforts with market trends to ensure successful product development and maintain its technological leadership [8]. - The company’s R&D expenses for the first half of 2019 were 16.17 million yuan, accounting for 14.97% of its revenue, with a total of 72 patents and 37 software copyrights obtained [64]. - Research and development investment increased by 30.61% to RMB 16.17 million, indicating a strong focus on innovation [79]. - The company plans to increase R&D investment in electric vehicle onboard power supplies, transitioning from single power units to integrated products, including series of two-in-one, three-in-one, and four-in-one products [57]. Market and Product Strategy - The company is focused on market expansion and product innovation to adapt to changing industry demands and maintain its competitive edge [8]. - The company is focused on expanding its market presence in the electric vehicle charging sector, enhancing its product offerings in power conversion and energy management systems [19]. - The company is actively involved in the construction of electric vehicle charging stations, providing key equipment and overall solutions [37]. - The company has developed a comprehensive solution for electric vehicle charging, becoming a major supplier for several well-known companies in the new energy sector [37]. - The company is focusing on accelerating the market promotion of new products and directions in response to policy changes [99]. Inventory and Accounts Receivable Management - The company's accounts receivable amounted to 228.57 million yuan, an increase of 101.72% compared to the beginning of the period, primarily due to the expansion of the consolidated financial statement scope [6]. - The company's inventory at the end of the reporting period was 70.04 million yuan, a 73.76% increase from the beginning of the period, indicating a need for improved inventory management [10]. - The company plans to maintain a strict accounts receivable management system to mitigate the risk of bad debts and improve cash flow [6]. - The company has implemented strict accounts receivable management policies to evaluate customer creditworthiness and minimize bad debt risks [100]. - The company has committed to a policy of "production based on sales, with appropriate inventory" to manage inventory levels effectively and reduce liquidity risks [102]. Financial Position and Liabilities - The company's total liabilities increased to CNY 160,728,186.92 from CNY 102,259,038.12, marking a rise of about 57.1% [182]. - The total liabilities to equity ratio stood at approximately 24.6%, indicating a relatively high leverage position [182]. - The company's cash and cash equivalents decreased to CNY 82,482,792.16 from CNY 104,391,806.76, a decline of about 21.0% [179]. - The company reported an investment income of ¥65,129.98, accounting for 0.76% of total profit, primarily from equity method accounting for investments [84]. - The company experienced an asset impairment loss of ¥1,515,529.12, which represented -17.57% of total profit, mainly due to bad debt provisions [84]. Industry Trends and Government Policies - The new energy vehicle industry is experiencing rapid growth, supported by favorable national policies and ongoing domestic charging station projects, with a target of meeting the charging needs of over 5 million electric vehicles by 2020 [48]. - The state grid's investment in the power grid reached 488.94 billion yuan in 2018, with plans for 512.6 billion yuan in 2019, indicating a stable investment trend in smart grid development [49]. - The government has set a subsidy standard for new energy charging facilities, with the highest rewards in key pollution control areas, which will effectively promote the construction of charging infrastructure [48]. - The company operates in industries such as new energy vehicles, electric power, and military, which are significantly influenced by national policies and economic conditions [99]. Management and Corporate Governance - The company appointed new executives, including Liu Qing as Vice General Manager and Chief Financial Officer, following the resignation of Wang Runmei [143]. - The company’s independent directors confirmed the legality and validity of the incentive objects under the 2016 plan [119]. - The company’s monitoring committee supported the implementation of the incentive plan, stating it would benefit the company's sustainable development [116]. - The company has a structured plan for the release of shares based on performance commitments, with specific dates for unlocking [155]. - The company has implemented a stock incentive plan with various executives having shares subject to annual unlocking [156].

Financial Performance - Total revenue for Q1 2019 reached ¥43,850,669.11, representing a 57.87% increase compared to ¥27,775,726.66 in the same period last year[7] - Net profit attributable to shareholders was -¥537,294.76, an improvement of 63.74% from -¥1,481,616.60 year-on-year[7] - The company's total profit was a loss of CNY 1.86 million, an improvement of CNY 148.15 million compared to a loss of CNY 150.01 million in the previous year[20] - Net profit for Q1 2019 was a loss of CNY 537,294.76, compared to a loss of CNY 1,481,616.60 in Q1 2018, representing a 64% improvement[54] - The company reported a net cash outflow of 6,419,256.01 CNY in Q1 2019, compared to 48,369,841.99 CNY in Q1 2018[62] Assets and Liabilities - Total assets increased by 58.27% to ¥816,687,188.94 from ¥516,015,075.93 at the end of the previous year[7] - Total current assets increased to ¥424,398,726.39 as of March 31, 2019, up from ¥321,873,810.85 at the end of 2018, representing a growth of approximately 32%[43] - Total liabilities increased to ¥170,617,034.55 from ¥102,259,038.12, which is an increase of approximately 67%[44] - The company's total liabilities as of Q1 2019 amounted to CNY 102,742,932.95, slightly up from CNY 102,236,886.54 in the previous year[50] Shareholder Information - Net assets attributable to shareholders rose by 56.15% to ¥646,070,154.39 from ¥413,756,037.81 at the end of the previous year[7] - The total number of ordinary shareholders at the end of the reporting period was 14,799[10] Earnings and Share Performance - Basic earnings per share improved to -¥0.004, a 60.00% increase from -¥0.010 in the same period last year[7] - Diluted earnings per share also improved to -¥0.004, reflecting a 60.00% increase from -¥0.010 year-on-year[7] - The weighted average return on equity was -0.11%, an improvement of 0.23% from -0.34% in the previous year[7] Revenue Segmentation - The military power supply segment generated revenue of CNY 17.73 million, a significant increase of 621.86% year-on-year, accounting for 40.44% of total revenue[20] - The company achieved operating revenue of CNY 43.85 million, a 57.87% increase from CNY 27.78 million in the same period last year[20] Cash Flow and Operating Activities - Net cash flow from operating activities improved significantly to -¥986,888.17, a 96.07% increase from -¥25,081,183.19 in the previous year[7] - Total cash inflow from operating activities was 32,809,484.09 CNY, up from 19,006,448.89 CNY year-over-year[59] - Cash outflow from operating activities decreased to 33,796,372.26 CNY from 44,087,632.08 CNY in the previous year[61] Research and Development - Research and development expenses amounted to CNY 6.36 million, representing 14.50% of operating revenue[22] - Research and development expenses for Q1 2019 were CNY 6,356,195.20, an increase of 15% from CNY 5,512,877.16 in Q1 2018[51] - The company completed the project acceptance for its bidirectional power conversion technology, enhancing its product offerings in the energy storage sector[22] - The company is committed to enhancing its R&D capabilities and has increased its investment in technology to maintain its competitive edge in the market[29] Inventory and Accounts Receivable - Accounts receivable increased by 86.99% to CNY 211.87 million, primarily due to an expanded consolidation scope[18] - Inventory rose by 52.73% to CNY 61.56 million, attributed to the expanded consolidation scope[18] - The company's accounts receivable at the end of the reporting period amounted to ¥211,871,400, reflecting an increase of 86.99% compared to the beginning of the period[28] - Inventory at the end of the reporting period was ¥61,561,800, showing a growth of 52.73% from the beginning of the period[31] Strategic Initiatives and Risks - The company is facing risks related to industry policy changes, rapid growth in accounts receivable, and potential declines in gross margin due to increased competition[26][30] - The company has implemented strict accounts receivable management to mitigate risks associated with potential bad debts[28] - The company will continue to monitor the operational status of acquired businesses to reduce the risk of goodwill impairment[33] Acquisitions and Investments - The company completed the acquisition of 100% equity in Xi'an Howey Power Co., Ltd., with the transaction involving 16,099,103 new shares listed on March 21, 2019[34] - The capital reserve increased by 128.54% to CNY 385.37 million, mainly due to the issuance of shares for the acquisition of Xi'an Hohai Power Supply Co., Ltd.[18] - The company has invested in intangible assets, which increased to ¥23,487,267.78 from ¥17,889,425.83, showing a growth of about 31%[43] Compliance and Reporting - The first quarter report was not audited[66] - The company did not apply the new financial instruments, revenue, and leasing standards for the first execution year[66] - The company is currently in compliance with the new accounting standards[66] - The financial report adjustments do not affect the first quarter results[66] - There are no indications of new product or technology developments mentioned in the report[66] - The company has not provided any future outlook or performance guidance in this document[66]

Financial Performance - The company's operating revenue for 2018 was ¥161,987,384.70, a decrease of 25.31% compared to ¥216,878,674.13 in 2017[25]. - The net profit attributable to shareholders was -¥14,165,214.25, representing a decline of 232.17% from ¥10,717,545.22 in the previous year[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥22,460,561.74, a decrease of 424.71% compared to ¥6,917,043.13 in 2017[25]. - The net cash flow from operating activities was -¥34,509,914.47, down 321.84% from ¥15,556,481.72 in 2017[25]. - The total assets at the end of 2018 were ¥516,015,075.93, a decrease of 14.32% from ¥602,287,369.98 at the end of 2017[25]. - The net assets attributable to shareholders decreased by 4.04% to ¥413,756,037.81 from ¥431,175,984.89 in 2017[25]. - The basic earnings per share for 2018 was -¥0.10, a decline of 242.86% from ¥0.07 in 2017[25]. - The diluted earnings per share also stood at -¥0.10, reflecting the same percentage decrease as the basic earnings per share[25]. - The company reported a significant increase in asset impairment losses due to high recoverability risks from accounts receivable[66]. - The company’s total manufacturing costs increased by 1.62% to CNY 1,671,130.58[84]. Accounts Receivable and Inventory Management - The accounts receivable at the end of the reporting period amounted to 113.31 million RMB, accounting for 21.95% of total assets, indicating a significant balance[8]. - The company plans to maintain a strict accounts receivable management system to minimize bad debt risks and improve cash flow[8]. - The company aims to optimize inventory management to reduce liquidity risks associated with inventory growth[12]. - The company's inventory at the end of the reporting period was 40.31 million RMB, a decrease of 4.94% compared to the beginning of the period, reflecting stable inventory management[12]. - Accounts receivable decreased by 3,064.31, a 21.29% decline, attributed to increased bad debt provisions[96]. - Inventory increased slightly to 40,308,051.13, representing 7.81% of total assets[96]. Research and Development - The company is committed to increasing R&D investment to enhance product competitiveness and maintain technological advantages[10]. - The company emphasizes the importance of aligning R&D with market demand to ensure successful product development[10]. - The company’s R&D expenses for 2018 amounted to 21.16 million yuan, accounting for 13.06% of total revenue, indicating a strong commitment to innovation[56]. - The company has accumulated 59 patents and 32 software copyrights, showcasing its strong technological innovation capabilities[56]. - The company is focusing on technological innovation and product development to enhance its competitive edge in the power electronics industry[61]. - The company plans to enhance its product offerings in electric vehicle onboard power supplies by developing integrated products such as dual, triple, and quadruple power systems[51]. Market and Competitive Landscape - The company faces risks of declining gross margins due to increased competition in the electric vehicle and charging station sectors[11]. - The company will continue to promote high-value-added products to stabilize gross margins amid competitive pressures[11]. - The company will adapt its market strategies based on changes in government policies affecting the electric vehicle industry[6]. - The company has established itself as a major supplier for well-known enterprises in the new energy sector, providing customized solutions for various types of new energy vehicles[37]. - The company’s market share in the electric power operation power supply sector is expected to strengthen due to the ongoing infrastructure investments in the power industry[54]. Strategic Initiatives and Future Outlook - The company plans to target high-end markets and seek breakthroughs in strategic business areas such as smart grids and new energy vehicle charging networks[103]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 1.32 billion RMB[134]. - New product development includes the launch of a next-generation electronic device, expected to contribute an additional 200 million RMB in revenue[135]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share within the next two years[136]. - A strategic acquisition of a smaller tech firm was completed, which is anticipated to enhance the company's technological capabilities and add 50 million RMB to the annual revenue[136]. Dividend and Shareholder Returns - The company has not proposed any cash dividends or stock bonuses for the reporting period, indicating a focus on reinvestment[13]. - The company did not distribute cash dividends for the year 2018, maintaining a total distributable profit of ¥92,700,227.41[117]. - The cash dividend distribution plan for 2018 includes no cash dividends, no bonus shares, and no capital reserve conversion into share capital, pending shareholder approval[118]. - The company’s cash dividend total for 2018 was ¥0.00, indicating no distribution to shareholders[119]. - The company is committed to maintaining a dividend payout ratio of 40% of net profits, ensuring consistent returns to shareholders[145]. Compliance and Governance - The company has not faced any penalties or rectification issues during the reporting period[167]. - The company has not undergone any bankruptcy restructuring during the reporting period[164]. - The company is in compliance with all commitments made by its actual controllers and shareholders during the reporting period[120]. - The company has engaged DaXin Accounting Firm for auditing services, with a fee of ¥400,000, and has maintained this relationship for 9 years[163]. Social Responsibility and Environmental Compliance - The company actively engages in social responsibility initiatives, including a mutual aid fund that assisted 8 employees with approximately CNY 120,000 in aid during the reporting period[195]. - The company has not been classified as a key pollutant discharge unit and complied with environmental protection laws without any violations reported[197].

Financial Performance - The company's operating revenue for 2018 was ¥161,987,384.70, a decrease of 25.31% compared to ¥216,878,674.13 in 2017[25]. - The net profit attributable to shareholders was -¥14,165,214.25, representing a decline of 232.17% from a profit of ¥10,717,545.22 in the previous year[25]. - The net cash flow from operating activities was -¥34,509,914.47, a decrease of 321.84% compared to ¥15,556,481.72 in 2017[25]. - The total assets at the end of 2018 were ¥516,015,075.93, down 14.32% from ¥602,287,369.98 at the end of 2017[25]. - The net assets attributable to shareholders decreased by 4.04% to ¥413,756,037.81 from ¥431,175,984.89 in 2017[25]. - The basic earnings per share for 2018 was -¥0.10, a decline of 242.86% from ¥0.07 in 2017[25]. - The company reported a total revenue of 103,347,594.78, down from 140,007,489.66, indicating a significant overall decline[80]. - The company’s weighted average return on equity was -3.41% in 2018, down from 2.62% in 2017[25]. Accounts Receivable and Inventory Management - The accounts receivable at the end of the reporting period amounted to 113.31 million RMB, accounting for 21.95% of total assets, indicating a significant balance[8]. - The company recognizes the potential risks associated with rapid growth in accounts receivable and inventory, which could impact liquidity if not managed effectively[8][12]. - The company plans to maintain a strict accounts receivable management system to minimize bad debt risks and improve cash flow[8]. - The company reported a significant increase in asset impairment losses due to high recoverability risks associated with accounts receivable from Fujian Yufu[66]. - The company’s accounts receivable at the end of the reporting period amounted to 113.31 million yuan, accounting for 21.95% of total assets, indicating a potential risk if major clients' financial situations change[109]. - The company’s inventory at the end of the reporting period was 40.31 million RMB, a decrease of 4.94% compared to the beginning of the period, reflecting stable inventory management[12]. - The company reported a decrease in inventory from 42.40 million yuan at the beginning of the period to 40.31 million yuan at the end, reflecting a 4.94% reduction[111]. Research and Development - The company is committed to increasing R&D investment to enhance its technological advantages and product competitiveness in the rapidly evolving power electronics industry[9]. - The company aims to align its R&D efforts with market demands to ensure successful product development and maintain its competitive edge[10]. - The company’s R&D expenses for 2018 amounted to 21.16 million yuan, accounting for 13.06% of total revenue, reflecting a commitment to innovation[56]. - The company has accumulated 59 patents and 32 software copyrights, showcasing its strong focus on technological innovation[56]. - The company has entered the mass production stage for two key R&D projects: bidirectional power conversion technology and a new generation of water-cooled vehicle-mounted DC-DC power supply[86]. - The company plans to enhance its product offerings in electric vehicle onboard power supplies by developing integrated products such as two-in-one and three-in-one systems[51]. - The company aims to strengthen its market position in the electric power operation power supply sector by continuously upgrading technology and expanding product lines[58]. Market Position and Strategy - The company reported a risk of declining gross margins due to increased competition in the electric vehicle and charging station sectors, necessitating ongoing innovation and cost management[11]. - The company has established a strong market position in the electric vehicle charging and onboard power supply sectors, contributing to sustained performance growth and new profit points[47]. - The company benefits from favorable national policies aimed at accelerating the construction of electric vehicle charging infrastructure, with a target of meeting the charging needs of over 5 million electric vehicles by 2020[45]. - The company focuses on the research, production, and sales of high-frequency switch power supplies and related electronic products, including charging power systems for charging stations and electric vehicle onboard power supplies[35]. - The company has completed the acquisition of 100% equity in Hohai Power, enhancing its capabilities in military power supply and expanding its market reach[68]. - The company plans to integrate the operations of its wholly-owned subsidiary, Hohwei Power, to enhance market share and profitability in the military sector while maintaining its competitive advantages[106]. Operational Efficiency and Cost Management - The company has optimized its operational management and improved information exchange efficiency across departments to boost productivity[67]. - The company aims to reduce operational costs by 15% through efficiency improvements and automation in production processes[136]. - The company has implemented a "dual-brand, dual-supplier" strategy to effectively reduce product costs[61]. - The company’s gross profit margin is under pressure due to increased competition in the electric vehicle and charging station sectors, necessitating ongoing cost reduction efforts[111]. - The raw material costs for the electric power sector accounted for 87.02% of total operating costs, up from 81.39% in the previous year[80]. Future Outlook and Growth Plans - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% based on new product launches and market expansion strategies[136]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[138]. - The company aims to launch three new products in the upcoming quarter, which are anticipated to contribute an additional 200 million RMB in revenue[147]. - The company plans to implement a share repurchase program, which will be initiated if the stock price exceeds the net asset value per share for 20 consecutive trading days[140]. - The company is committed to becoming a leader in the power electronics industry through continuous innovation and market expansion[103]. Shareholder and Dividend Policies - The company has not proposed any cash dividends or stock bonuses for the reporting period, indicating a focus on reinvestment[13]. - The company did not distribute cash dividends for the year 2018, maintaining a total distributable profit of ¥92,700,227.41[119]. - The total cash dividend amount for 2018 was recorded as ¥0.00, indicating no distribution[121]. - The company’s cash dividend policy reflects a strategic focus on future funding arrangements and development plans[120]. - The company has committed to performance targets for 霍威电源, with net profit targets of ¥17 million for 2018, ¥25 million for 2019, and ¥33 million for 2020[123]. Compliance and Governance - The company has implemented changes in accounting policies in accordance with the revised financial reporting formats issued by the Ministry of Finance, effective from December 25, 2017[156]. - The company has engaged DaXin Accounting Firm for auditing services, with a fee of ¥400,000, marking a continuous service period of 9 years[165]. - The company has not faced any penalties or corrective actions during the reporting period[169]. - The company is required to maintain the shares acquired through repurchase for at least 6 months before any potential sale[143].

石家庄通合电子科技股份有限公司 2018 年第三季度报告全文 石家庄通合电子科技股份有限公司 2018 年第三季度报告 2018-106 2018 年 10 月 1 石家庄通合电子科技股份有限公司 2018 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人马晓峰、主管会计工作负责人王润梅及会计机构负责人(会计主 管人员)刘卿声明：保证季度报告中财务报表的真实、准确、完整。 2 石家庄通合电子科技股份有限公司 2018 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 545,875,333.52 | | 602,287,369.98 | -9.37% | | 归属于上市公司股东的净 ...

Financial Performance - Total revenue for the first half of 2018 was ¥67,782,527.18, representing a 3.58% increase compared to ¥65,442,790.95 in the same period last year[30]. - Net profit attributable to shareholders was ¥3,177,887.62, a significant turnaround from a loss of ¥6,289,047.80, marking a 150.53% improvement[30]. - Basic earnings per share increased to ¥0.0220 from a loss of ¥0.0451, reflecting a 148.78% increase[31]. - The total comprehensive income amounted to ¥2,827,779.65, a decrease of ¥6,304,070.11 compared to the previous period[176]. - The company reported a profit distribution of -2,834,270 RMB to shareholders, indicating a loss in profit allocation[191]. Assets and Liabilities - Total assets decreased by 9.45% to ¥545,362,851.77 from ¥602,287,369.98 at the end of the previous year[31]. - The company's total current assets decreased from CNY 402,176,969.05 at the beginning of the period to CNY 352,443,912.37 at the end, representing a decline of approximately 12.3%[159]. - Total liabilities decreased from CNY 171,111,385.09 to CNY 113,752,918.30, a reduction of about 33.4%[161]. - The company's total liabilities and equity at the end of the current period were CNY 431,609,933.47[187]. Cash Flow - The net cash flow from operating activities was -¥61,060,584.23, a decline of 312.72% compared to -¥14,794,683.21 in the previous year[31]. - Cash inflows from operating activities totaled ¥58,120,081.87, down 15.7% from ¥69,111,590.68 in the previous period[176]. - The company reported a significant decrease in cash inflows from sales of goods and services, totaling ¥38,217,467.23, down from ¥57,086,062.77 in the previous period[179]. Research and Development - The company plans to increase R&D investment to maintain its technological advantages and improve product competitiveness[9]. - Research and development expenses for the first half of 2018 amounted to 11.65 million yuan, accounting for 17.19% of the company's operating revenue[60]. - The company has obtained a total of 55 patents and 31 software copyrights, indicating a strong focus on innovation[60]. - The company is committed to optimizing product development processes and enhancing R&D capabilities to maintain its technological advantage[97]. Market and Competition - The gross profit margin is at risk of decline due to increased competition in the electric vehicle and charging station sectors, necessitating continuous cost reduction efforts[11]. - The company aims to strengthen its market research to adapt to policy changes and enhance its market strategies accordingly[5]. - The government policies and industry factors are expected to create significant market opportunities, particularly in the public charging market, which will shift towards high-power charging equipment[47]. Inventory and Accounts Receivable - Accounts receivable at the end of the reporting period reached 158.22 million RMB, an increase of 9.91% compared to the beginning of the period[6]. - Inventory at the end of the reporting period was 42.38 million RMB, showing a slight decrease of 0.04% from the beginning of the period, indicating stable inventory management[12]. - The company emphasizes strict accounts receivable management to minimize bad debt risk and improve cash flow[96]. Corporate Governance and Shareholder Information - The company did not distribute cash dividends or issue bonus shares for the reporting period[15]. - The total number of ordinary shareholders at the end of the reporting period is 17,011[144]. - The largest shareholder, Jia Tongying, holds 19.81% of the shares, totaling 28,757,002 shares[144]. Strategic Initiatives - The company is focusing on the development of charging power systems and vehicle-mounted power supplies as key growth areas[7]. - The company plans to acquire 100% of Xi'an Howey Power Supply Co., Ltd., which specializes in military power supplies, to enhance its capabilities in the military market[69]. - The company is gradually penetrating the new energy passenger vehicle market, leveraging its technological advantages in the power supply sector[55].