新晨科技股份有限公司 2018 年第三季度报告全文 新晨科技股份有限公司 2018 年第三季度报告 2018-079 公司负责人康路、主管会计工作负责人余克俭及会计机构负责人(会计主管 人员)牛敬声明：保证季度报告中财务报表的真实、准确、完整。 2 2018 年 10 月 1 新晨科技股份有限公司 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。 新晨科技股份有限公司 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） | 984,802,330.51 | | 789,485,927.16 | 24.74% | | 归属于上市公司股东的净资产（元） | 610,500,021.2 ...

Financial Performance - Total revenue for the reporting period was ¥213,788,783.41, a decrease of 13.85% compared to ¥248,146,835.89 in the same period last year[18]. - Net profit attributable to shareholders was ¥7,733,985.56, representing an increase of 2.20% from ¥7,567,740.80 year-on-year[18]. - Net profit after deducting non-recurring gains and losses was ¥7,578,791.12, up 4.50% from ¥7,252,625.26 in the previous year[18]. - The company achieved total operating revenue of 213.79 million yuan, a decrease of 13.85% compared to the same period last year[40]. - The net profit attributable to ordinary shareholders of the parent company was 7.73 million yuan, an increase of 2.20% year-on-year[40]. - The company reported a net loss of 7,295,320.00 CNY for the current period, reflecting ongoing challenges in profitability[157]. - The total comprehensive income for the current period included a net profit of CNY 10,078,580.72[165]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥139,574,835.40, a decline of 22.15% compared to -¥114,268,743.33 in the same period last year[18]. - The company reported a net cash outflow from investing activities of -¥52,648,168.58, compared to -¥313,994.84 in the previous period[149]. - The total cash inflow from investment activities was 20,228,315.98 CNY, significantly higher than 1,310.00 CNY in the previous period[152]. - The total cash and cash equivalents at the end of the period were 119,285,321.94 CNY, down from 196,390,067.49 CNY at the beginning of the period, reflecting a decrease of approximately 39.3%[153]. - The company's cash and cash equivalents decreased to RMB 184,328,212.70 from RMB 291,786,700.71, representing a decline of about 36.8%[132]. Assets and Liabilities - Total assets at the end of the reporting period were ¥867,468,812.43, an increase of 9.88% from ¥789,485,927.16 at the end of the previous year[18]. - The company's total assets reached CNY 822,818,600.86, up from CNY 739,105,414.99 at the beginning of the year[138]. - Total liabilities increased to CNY 257,652,399.26, compared to CNY 178,270,259.24 at the start of the year[139]. - The company's accounts receivable increased to approximately ¥388.99 million, representing 44.84% of total assets[52]. - Accounts receivable rose to CNY 357,506,178.40, up from CNY 305,137,737.98 at the beginning of the year, indicating improved collection efforts[137]. Shareholder Equity and Dividends - The company plans not to distribute cash dividends or issue bonus shares[5]. - The total equity attributable to the parent company at the end of the reporting period was CNY 563,022,144.92, reflecting a decrease of CNY 10,555.09 compared to the previous period[159]. - The company completed a capital distribution plan in 2017, distributing cash dividends of CNY 0.80 per 10 shares and increasing the total share capital from CNY 91,191,500 to CNY 155,025,550[108]. - The total number of shares increased from 91,191,500 to 155,025,550 following the capital increase[108]. Operational Highlights - The company has successfully applied its core products, such as the Trade Financing Settlement System, in over 30 joint-stock banks and regional commercial banks[26]. - The company has established a strong system integration capability, providing comprehensive services from design planning to technical support[28]. - The company has made progress in applying blockchain technology in the financial sector, particularly in forfaiting business applications[40]. - The company has established a nationwide marketing and service network, enhancing customer response speed and service quality[37]. - The company is expanding its workforce to enhance R&D and market development, which has led to rising labor costs due to competition for skilled talent[75]. Research and Development - Research and development investment was 69.40 million yuan, a slight increase of 1.37% year-on-year[43]. - The company has obtained three new software copyright certifications in the first half of 2018, enhancing its market presence and brand influence[27]. Market and Industry Trends - The financial industry IT service demand is expected to maintain a high growth rate due to the shift towards customer-centric services and innovations from internet finance[31]. - The company continues to focus on its core value, products, customers, and business, which drives its stable revenue growth and market expansion[30]. Corporate Governance - The company held its annual general meeting on May 11, 2018, where the profit distribution and capital reserve transfer proposal was approved[109]. - The company’s independent directors provided clear opinions on the profit distribution and capital reserve transfer proposal, ensuring compliance with regulatory requirements[109]. - The company did not engage in any significant related party transactions during the reporting period[95]. Accounting and Financial Reporting - The financial statements were prepared based on the assumption of going concern, with no significant doubts about the company's ability to continue operations[174]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring the accuracy and completeness of its financial reporting[176]. - The company recognizes control transfer on the purchase date when the net assets or operational decision-making authority of the acquired entity is transferred[183].

Financial Performance - Total revenue for Q1 2018 was ¥91,613,991.68, an increase of 4.59% compared to ¥87,597,453.50 in the same period last year[7] - Net profit attributable to shareholders was -¥7,382,013.72, a decrease of 151.08% from -¥2,940,108.01 year-over-year[7] - Basic earnings per share were -¥0.08, down 166.67% from -¥0.03 in the same period last year[7] - The company reported a net profit margin of approximately -7.5% for the quarter, indicating a loss compared to the previous year[41] - The net profit for Q1 2018 was CNY 2,895,953.34, representing a 129.0% increase from CNY 1,262,256.76 in Q1 2017[46] - The operating profit for Q1 2018 was CNY 3,552,873.77, up by 112.5% from CNY 1,670,944.63 in the previous year[45] - The total comprehensive income for Q1 2018 was CNY 2,895,953.34, an increase from CNY 1,262,256.76 in Q1 2017[46] - Basic and diluted earnings per share for Q1 2018 were both CNY 0.03, compared to CNY 0.01 in the same period last year[46] Cash Flow and Liquidity - Net cash flow from operating activities was -¥132,596,893.61, representing a decline of 104.32% compared to -¥64,896,432.49 in the previous year[7] - Cash and cash equivalents decreased by 36.89% compared to the beginning of the year, primarily due to payments to suppliers and the maturity of notes payable[18] - The cash balance decreased from CNY 291.79 million at the beginning of the period to CNY 184.14 million by the end of the period, indicating a reduction of approximately 36.83%[33] - Cash inflow from sales of goods and services was CNY 47,587,004.19, up from CNY 30,500,586.96 in the previous period[52] - Cash outflow for purchasing goods and services reached CNY 125,494,303.30, compared to CNY 55,661,241.64 last year[52] - Operating cash inflow totaled CNY 57,719,225.00, an increase from CNY 49,901,680.06 in the previous period[49] - Operating cash outflow amounted to CNY 190,316,118.61, compared to CNY 114,798,112.55 last year, resulting in a net cash flow from operating activities of -CNY 132,596,893.61, worsening from -CNY 64,896,432.49[49] Assets and Liabilities - Total assets at the end of the reporting period were ¥753,019,938.75, a decrease of 4.62% from ¥789,485,927.16 at the end of the previous year[7] - Total liabilities decreased to CNY 164,496,962.78 from CNY 194,352,029.58, a reduction of 15.4%[35] - Total equity attributable to shareholders decreased to CNY 588,537,579.35 from CNY 595,145,700.50, a decrease of 1.0%[36] - Non-current liabilities decreased to CNY 591,976.99 from CNY 671,202.46, a decline of 11.8%[39] Operational Insights - The company relies on major clients, with approximately 57.43% of revenue coming from the top five customers, indicating a risk of dependency[9] - The company aims to enhance customer loyalty and service quality through long-term partnerships and continuous innovation in technology and products[9] - The company plans to continue implementing its annual operational plan across management, R&D, and marketing[21] - The company has established talent bases in Wuhan and Tianjin to mitigate rising labor costs associated with technology talent[10] Investment and Funding - The company plans to strengthen the management of raised funds to ensure they are used for designated investment projects, reducing the risk of fund misallocation[11] - The company reported a total investment commitment of CNY 15,587.05 million, with a cumulative investment of CNY 9,050.2 million, achieving a progress rate of 58.00%[26] - The total amount of unused raised funds is stored in a dedicated account for future project payments[27] - The company utilized self-raised funds amounting to CNY 14.66 million for the national air traffic control data information service system project ahead of the planned fundraising[26] Inventory and Receivables - Accounts receivable increased to CNY 366.95 million from CNY 322.54 million, reflecting a growth of about 13.76%[33] - Inventory increased from CNY 33.19 million to CNY 37.74 million, marking a rise of approximately 13.43%[33] - Accounts receivable notes decreased by 100.00% as they matured and were settled during the reporting period[18] - Prepayments increased by 209.47% compared to the beginning of the year, indicating a rise in advance payments to suppliers[18] Cost Management - Total operating costs for Q1 2018 were CNY 98,467,831.41, up from CNY 90,322,283.77, reflecting a year-over-year increase of 9.5%[41] - The company's sales expenses decreased to CNY 2,167,375.34 from CNY 2,830,531.28, a reduction of 23.4%[45] - The management expenses decreased to CNY 12,569,561.68 from CNY 15,236,422.28, a decline of 17.5%[45] - The financial expenses improved to CNY -314,947.69 from CNY -160,511.71, indicating a better financial position[45] Impairment and Losses - Asset impairment losses increased by 1,246.18% compared to the same period last year, amounting to an increase of 1.44 million RMB[18] - The company reported an asset impairment loss of CNY 1,275,017.90, compared to a gain of CNY -835,931.66 in the previous year[45] Supplier Relationships - The top five suppliers accounted for 32.82% of total purchases, indicating a decrease in supplier concentration compared to the previous year[21] - Revenue from the top five customers was 53.24 million RMB, representing 57.43% of total revenue, showing a decline in customer concentration compared to the previous year[21]

Financial Performance - The company's operating revenue for 2017 was ¥606,451,812.65, representing a 40.57% increase compared to ¥431,422,441.35 in 2016[16] - The net profit attributable to shareholders for 2017 was ¥36,187,810.88, a 5.21% increase from ¥34,396,365.86 in 2016[16] - The net cash flow from operating activities improved significantly, reaching -¥491,616.54, a 95.08% increase compared to -¥10,002,159.38 in 2016[16] - The total assets at the end of 2017 amounted to ¥789,485,927.16, an 8.67% increase from ¥726,524,324.50 at the end of 2016[16] - The net assets attributable to shareholders increased by 5.70% to ¥595,145,700.50 at the end of 2017, up from ¥563,032,700.01 in 2016[16] - The basic earnings per share for 2017 was ¥0.40, a decrease of 14.89% from ¥0.47 in 2016[16] - The weighted average return on equity for 2017 was 6.25%, down from 8.04% in 2016, reflecting a decline of 1.79%[16] - The company reported a quarterly revenue of ¥226,994,338.97 in Q4 2017, which was the highest among the four quarters[18] - The net profit attributable to shareholders in Q4 2017 was ¥25,647,634.82, marking a significant recovery from previous quarters[18] - The company achieved total operating revenue of 606.45 million yuan in 2017, a year-on-year increase of 40.57%[39] - Operating profit for the year was 38.40 million yuan, reflecting an 8.77% increase compared to the previous year[39] - Net profit attributable to shareholders reached 36.19 million yuan, up 5.21% year-on-year[39] Revenue Sources and Growth - In 2017, the company reported a total of 1,853,347.54 in non-operating income, an increase from 1,530,092.92 in 2016, representing a growth of approximately 21.1%[22] - The company received government subsidies amounting to 2,037,827.88 in 2017, up from 1,044,278.04 in 2016, indicating a significant increase of about 95.2%[22] - The software and information industry accounted for 99.84% of total revenue, with a revenue of ¥605.51 million, up 40.64% year-on-year[44] - Revenue from the North China region was ¥392.74 million, accounting for 64.76% of total revenue, with a year-on-year growth of 42.20%[44] - The company's software business achieved a significant revenue increase, with system integration revenue reaching ¥307.37 million, a year-on-year growth of 75.92%[40] Research and Development - The company has made substantial investments in R&D, particularly in cloud computing, artificial intelligence, and blockchain technologies, with successful applications launched in the banking sector[41] - The company plans to increase R&D investment and establish innovation labs to maintain a leading position in emerging technologies such as cloud computing, blockchain, and artificial intelligence[85] - The number of R&D personnel increased to 978, representing 82.81% of the total workforce[57] - Research and development (R&D) investment reached ¥127,388,493.53, constituting 21.01% of the operating revenue[57] Market Strategy and Operations - The company operates in the software and information technology services industry, classified under the "Information Transmission, Software and Information Technology Services" sector[29] - The company is focusing on technology innovation in cloud computing, blockchain, and artificial intelligence to strengthen its core competitiveness[34] - The company is focusing on emerging sub-sectors within the financial industry, such as transaction banking and supply chain finance, to become a core supplier in these markets[84] - The company has established a nationwide marketing and service network, enhancing customer response speed and service quality[36] - The company maintains a strict supplier management system, ensuring competitive procurement processes for hardware and software products, which supports its system integration services[28] Shareholder and Profit Distribution - The company plans to distribute a cash dividend of ¥0.80 per 10 shares, with a capital reserve conversion of 7 shares for every 10 shares held[4] - The cash dividend amount for the reporting period is set at 7,295,320.00 CNY, which is 0.80 CNY per 10 shares, representing 20.16% of the net profit attributable to ordinary shareholders[96] - The company has established a stable profit distribution policy, prioritizing cash dividends when conditions are met[90] - The company must distribute at least 20% of its distributable profits as cash dividends if it is in a growth phase with significant capital expenditure[91] - The company has consistently adhered to its profit distribution plan in accordance with its articles of association[92] Corporate Governance and Compliance - The company has committed to transparency in its financial reporting and adherence to regulatory standards post-IPO[97] - The company has established various management systems for information disclosure, ensuring compliance with legal and regulatory requirements[199] - The company has a profit distribution policy that includes cash dividends, which was revised and approved at the first extraordinary shareholders' meeting in 2014[98] - The company has committed to ensuring that its IPO prospectus is truthful, accurate, complete, and timely, with no false records or misleading statements[102] - The company will disclose specific reasons for any failure to fulfill commitments and will propose supplementary or alternative commitments to protect investor rights[104] Management and Board Structure - The company has a strong management team with key positions held by 张燕生 as General Manager and 余克俭 as Chief Financial Officer, both bringing significant industry experience[181][182] - The board of directors consists of 7 members, including 3 independent directors, complying with legal and regulatory requirements[197] - The company has a history of stability in leadership, with many board members serving for over a decade, suggesting a consistent strategic vision[175][176][177] - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 2.0745 million CNY[185] - The company has been involved in various educational and training initiatives, indicating a commitment to staff development and expertise[180] Asset Management and Financial Health - The total amount of restricted cash as of December 31, 2017, was CNY 9,058,873, including CNY 2,410,760 for bank acceptance bill guarantees and CNY 6,648,113 for letter of guarantee[65] - The company reported accounts payable of CNY 103,655,423.70, which increased by 5.62% compared to the previous year, primarily due to significant growth in equipment sales and system integration contracts[64] - The company’s asset-liability ratio decreased following the increase in share capital and net assets due to the stock incentive plan[162] - The company anticipates an increase in accounts receivable due to business expansion, which may impact asset quality if client credit situations change[86] - The company emphasizes the importance of managing accounts receivable effectively, linking it to departmental performance and implementing rigorous collection strategies[87]

Financial Performance - Operating revenue for the reporting period was CNY 131,310,637.79, representing a year-on-year increase of 52.15%[7] - Net profit attributable to shareholders was CNY 2,972,435.26, an increase of 3.60% compared to the same period last year[7] - The net profit after deducting non-recurring gains and losses was CNY 2,904,323.00, up 21.23% year-on-year[7] - The basic earnings per share for the reporting period was CNY 0.0327, down 22.14% compared to the same period last year[7] - The weighted average return on equity was 0.53%, a decrease of 0.17% compared to the previous year[7] - Total operating revenue for Q3 2017 reached ¥131,310,637.79, compared to ¥86,302,553.35 in the same period last year, indicating a significant increase[34] - Net profit for Q3 2017 was ¥2,972,390.78, slightly higher than ¥2,865,881.43 in the previous year[35] - The total profit for Q3 2017 was approximately ¥13.35 million, an increase from ¥11.60 million in the same period last year, representing a growth of about 15.1%[47] - The net profit for Q3 2017 reached ¥11.16 million, compared to ¥9.58 million in Q3 2016, marking an increase of approximately 16.6%[47] Assets and Liabilities - Total assets at the end of the reporting period were CNY 697,905,491.43, a decrease of 3.94% compared to the previous year[7] - The total assets at the end of Q3 2017 amounted to ¥669,313,075.19, a decrease from ¥685,621,142.95 at the beginning of the period[32] - The company's total liabilities decreased to ¥130,213,223.24 from ¥151,372,721.77 at the start of the period[32] - The equity attributable to shareholders of the parent company increased to ¥539,099,851.95 from ¥534,248,421.18[32] Cash Flow - The net cash flow from operating activities was CNY -137,783,550.95, a decrease of 25.46% year-to-date[7] - Cash and cash equivalents decreased by 49.95% compared to the beginning of the year, primarily due to dividend payments, repayment of short-term loans, and increased payments to suppliers[18] - The cash inflow from operating activities totaled ¥295.41 million, up from ¥242.46 million in the previous year, reflecting an increase of approximately 21.8%[50] - The net cash flow from operating activities was negative at ¥137.78 million, worsening from a negative ¥109.82 million in the same quarter last year[50] - Cash outflow from investing activities was ¥1.84 million, compared to ¥0.76 million in Q3 2016, indicating an increase of approximately 143.0%[51] - Cash inflow from financing activities was ¥24.26 million, significantly lower than ¥224.85 million in the previous year, representing a decrease of about 89.2%[53] - The ending cash and cash equivalents balance was ¥152.22 million, down from ¥249.67 million at the end of Q3 2016, a decrease of approximately 39.0%[52] - The company reported a total cash outflow of ¥157.48 million for the quarter, contrasting with an inflow of ¥56.61 million in the same period last year[52] Receivables and Expenses - Accounts receivable increased by 46.49% compared to the beginning of the year, mainly due to large amounts recognized as revenue from completed system integration projects that have not yet been collected from customers[18] - Prepayments increased by 87.27% compared to the beginning of the year, attributed to increased payments to suppliers[18] - Other receivables rose by 119.12% compared to the beginning of the year, driven by an increase in bidding projects and the corresponding increase in recoverable bid deposits[18] - Operating costs increased by 56.23% year-on-year, corresponding to the rise in operating revenue[19] - Management expenses increased by 43.59% year-on-year, reflecting increased investment in fundraising projects[19] - Financial expenses decreased by 129.35% year-on-year, due to increased bank interest income and the repayment of short-term loans[19] - Asset impairment losses increased by 174.99% year-on-year, primarily due to increased accounts receivable leading to higher bad debt provisions[19] - Income tax expenses decreased by 66.30% year-on-year, as the subsidiary's profits decreased significantly compared to the previous year[20] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 13,816[11] - The top shareholder, Li Fuhua, held 14.42% of the shares, totaling 13,150,000 shares[11]

Financial Performance - Total revenue for the reporting period reached ¥248,146,835.89, representing a 35.82% increase compared to ¥182,699,711.97 in the same period last year[18]. - Net profit attributable to shareholders was ¥7,567,740.80, an increase of 11.06% from ¥6,813,883.05 in the previous year[18]. - Net profit after deducting non-recurring gains and losses was ¥7,252,625.26, up 18.15% from ¥6,138,414.49 year-on-year[18]. - Operating profit reached 9.35 million yuan, up 15.64% from the previous year, while net profit was 7.56 million yuan, reflecting an 11.02% increase[38]. - Total operating revenue of 248.15 million yuan, a year-on-year increase of 35.82% due to the completion of large system integration projects[38]. - The company reported a total profit distribution of 3,125,460.85 CNY for the period[154]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥114,268,743.33, a decline of 82.55% compared to -¥62,595,135.75 in the previous year[18]. - Cash flow from operating activities showed a significant decline, with a net outflow of 114.27 million yuan, a decrease of 82.55% compared to the previous year[39]. - Cash and cash equivalents decreased by 49.64% compared to the beginning of the period, primarily due to dividend payments, repayment of short-term loans, and increased payments to suppliers[29]. - Total cash and cash equivalents decreased by CNY 156.70 million, compared to a decrease of CNY 73.21 million in the prior year[136]. - Cash and cash equivalents at the end of the period stood at CNY 153.01 million, down from CNY 110.19 million in the previous period[136]. Assets and Liabilities - Total assets at the end of the reporting period were ¥653,607,878.62, down 10.04% from ¥726,524,324.50 at the end of the previous year[18]. - The company's total assets decreased by 10.04% to 653.61 million yuan, while equity attributable to shareholders increased by 0.22% to 564.29 million yuan[38]. - Total current liabilities decreased from CNY 162,514,075.24 to CNY 88,501,705.79, a reduction of about 45%[120]. - The total liabilities decreased from CNY 163,502,179.58 to CNY 89,331,359.19, a significant reduction of about 45%[120]. Shareholder Information - The total number of shares is 90,150,000, with 74.99% being restricted shares and 25.01% being unrestricted shares[101]. - The largest shareholder, Li Fuhua, holds 14.59% of the shares, amounting to 13,150,000 shares, with 1,280,000 shares pledged[103]. - The second-largest shareholder, Kang Lu, owns 13.14% of the shares, totaling 11,850,000 shares[103]. - The total number of shareholders at the end of the reporting period is 12,978[103]. Research and Development - Research and development investment rose by 9.91% to 68.46 million yuan, indicating a commitment to innovation[39]. - The company successfully launched a domestic credit certificate business system based on blockchain technology, which is expected to become a new growth point for software solutions[35]. Risks and Challenges - The company faces risks including reliance on major clients and rising labor costs, which may impact future performance[4]. - Approximately 53.29% of the company's sales revenue came from the top five customers, indicating a reliance on major clients[62]. - The company plans to establish a talent base in Beijing to alleviate rising labor costs, which have been impacted by competition for high-level technical talent[63]. Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company has modified its profit distribution policy, including cash dividend policies, as per the guidelines issued by the China Securities Regulatory Commission on November 30, 2013[71]. - The company held several shareholder meetings with participation rates ranging from 55.98% to 68.06% during the reporting period[68]. Compliance and Regulations - The half-year financial report has not been audited[73]. - The company has not faced any penalties or rectification issues during the reporting period[76]. - There were no major litigation or arbitration matters during the reporting period[75]. Miscellaneous - The company has not reported any new product launches or technological advancements in this period[150]. - The company did not engage in any related party transactions during the reporting period[81]. - The company did not report any significant environmental protection issues and is not classified as a key pollutant discharge unit[93].

Financial Performance - Total revenue for Q1 2017 was ¥87,597,453.50, an increase of 20.98% compared to ¥72,409,493.05 in the same period last year[7] - Net profit attributable to shareholders was -¥2,940,108.01, representing a decrease of 181.54% from -¥1,044,305.02 year-on-year[7] - Operating income increased by 20.98% year-on-year, driven by the completion of major client system integration projects[21] - The company reported a net profit margin of approximately -2.5% for the quarter[42] - The net profit for Q1 2017 was CNY 1,262,256.76, compared to CNY 774,880.03 in the previous year, representing an increase of about 63%[48] - The operating profit for Q1 2017 was CNY 1,591,719.16, up from CNY 573,479.80 in the same period last year, reflecting a growth of approximately 177%[47] Cash Flow and Liquidity - Net cash flow from operating activities was -¥64,896,432.49, an improvement of 12.72% compared to -¥74,351,657.38 in the previous year[7] - The cash flow from operating activities showed a net outflow of CNY -64,896,432.49, an improvement from CNY -74,351,657.38 in the previous period[51] - Total cash and cash equivalents at the end of the period were 155,979,236.52 CNY, down from 245,076,811.08 CNY at the beginning of the period, reflecting a decrease of approximately 36.3%[56] - The cash flow from financing activities showed a net outflow of -35,790,768.89 CNY, compared to -25,075,211.83 CNY in the previous period, indicating increased financing costs[55] - The total cash and cash equivalents decreased by 89,097,574.56 CNY during the period, reflecting ongoing liquidity challenges[55] Assets and Liabilities - The total assets at the end of the reporting period were ¥644,690,000.59, a decrease of 11.26% from ¥726,524,324.50 at the end of the previous year[7] - The total liabilities decreased to CNY 78,765,177.01 from CNY 151,372,721.77[40] - Current assets decreased to CNY 448,872,689.39 from CNY 519,413,286.69[38] - Total equity increased to CNY 535,510,677.94 from CNY 534,248,421.18[40] Customer Concentration - Approximately 63.30% of revenue came from the top five customers, indicating a significant reliance on major clients[9] - The revenue from the top five customers was 55.45 million RMB, accounting for 63.30% of total operating income[22] Operational Efficiency - Management expenses rose by 92.22% year-on-year, totaling an increase of 9.11 million RMB due to increased investment in fundraising projects[20] - The company's sales expenses for Q1 2017 were CNY 2,830,531.28, slightly down from CNY 2,835,551.16 in the previous period[47] - The cash flow from other operating activities was 7,052,865.30 CNY, a significant decrease from 30,440,472.93 CNY in the previous period, indicating reduced operational efficiency[53] Investment and Fundraising - Total amount of raised funds is CNY 155.87 million, with CNY 62.22 million invested in the current quarter[26] - Cumulative investment from raised funds amounts to CNY 68.16 million, representing 43.77% of the total raised funds[26] - The company plans to continue implementing its annual operational plan across management, R&D, and marketing[23] Shareholder Information - The total number of common shareholders at the end of the reporting period is 13,635[15] - The company has not experienced any overdue commitments from shareholders or related parties during the reporting period[24] Compliance and Audit - The company has not undergone an audit for the first quarter report, which may affect the reliability of the financial data presented[57] - There were no violations regarding external guarantees during the reporting period[28] - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[30]

Financial Performance - The company's operating revenue for 2016 was CNY 431,422,441.35, representing a 4.33% increase compared to CNY 413,527,153.77 in 2015[16]. - The net profit attributable to shareholders for 2016 was CNY 34,396,365.86, a decrease of 2.17% from CNY 35,158,093.73 in 2015[16]. - The net profit after deducting non-recurring gains and losses was CNY 32,866,272.94, which is a 2.03% increase from CNY 32,211,285.19 in 2015[16]. - The total assets at the end of 2016 were CNY 726,524,324.50, a 32.46% increase from CNY 548,479,027.99 at the end of 2015[16]. - The net assets attributable to shareholders increased by 51.70% to CNY 563,032,700.01 from CNY 371,160,995.30 in 2015[16]. - The basic earnings per share for 2016 was CNY 0.47, down 9.62% from CNY 0.52 in 2015[16]. - The weighted average return on net assets decreased to 8.04% from 9.88% in 2015, a decline of 1.84%[16]. - The total revenue for 2016 was CNY 431.42 million, an increase of 4.33% compared to the previous year[48]. - The net profit for 2016 was CNY 34.39 million, a decrease of 2.17% year-on-year[48]. - The total assets at the end of the reporting period were CNY 726.52 million, an increase of 32.46% from the beginning of the year[48]. - The owner's equity attributable to shareholders increased by 51.7% to CNY 563.03 million[48]. Revenue Breakdown - Software development revenue grew by 6.52% to CNY 173.76 million, accounting for 40.28% of total revenue[49]. - Professional technical service revenue increased by 20.83% to CNY 82.04 million, representing 19.02% of total revenue[49]. - System integration revenue decreased by 3.76% to CNY 174.72 million due to some contracts not reaching acceptance status[49]. - The software and information industry accounted for 99.79% of total revenue, with a revenue of ¥430,523,043.41, up 4.35% from ¥412,584,964.35 in 2015[53]. - The professional technical services segment saw a significant growth of 20.82%, with revenue reaching ¥82,042,835.01, compared to ¥67,905,528.41 in 2015[54]. Cash Flow and Investments - The net cash flow from operating activities improved by 39.61%, reaching CNY -10,002,159.38 compared to CNY -16,562,986.86 in 2015[16]. - Operating cash inflow increased by 7.41% year-on-year to CNY 441,733,999.38, attributed to improved collection efforts[68]. - Cash and cash equivalents increased by 1,313.36% year-on-year, totaling CNY 126,301,487.31, primarily due to funds raised from the IPO[69]. - The company invested CNY 117,898,099.71 in R&D in 2016, accounting for 27.33% of its revenue[66]. - The company has committed to invest RMB 15,587.05 million in various projects, with a total of RMB 593.51 million invested by the end of the reporting period, representing a progress rate of 3.81%[79]. R&D and Innovation - The company has developed over 120 software copyright certifications, indicating strong R&D capabilities in the software sector[27]. - The company has made progress in new technology fields such as cloud computing and blockchain through continuous R&D investment[39]. - The company aims to enhance its research and development capabilities, focusing on innovative solutions in channel integration and trade finance[89]. - The company plans to increase investment in research and development for new technologies such as cloud computing, blockchain, mobility, and artificial intelligence to enhance sustainable development capabilities[92]. Market Position and Strategy - The core product, the exchange platform, is widely used across multiple industries, enhancing the company's market competitiveness[27]. - The financial industry is experiencing high growth in IT service demand, providing significant market opportunities for the company[34]. - The company has established a strong brand image in the domestic information technology service sector, particularly in finance and air traffic control[36]. - The company has maintained good cooperation with major banks and expanded its client base to include several city commercial banks[47]. - The company operates seven subsidiaries in major cities, enhancing its localized service capabilities[44]. Risks and Challenges - The company faces risks including reliance on major clients, rising labor costs, and talent retention challenges[4]. - Approximately 50% of the company's sales revenue in 2016 came from the top five customers, indicating a reliance on major clients[98]. - The company has established a talent base in Wuhan and plans to set up another in the Beijing area to mitigate rising labor costs[101]. Dividend Policy - The company plans to distribute a cash dividend of CNY 0.70 per 10 shares, totaling CNY 6,311,500 based on the total share capital of 90,150,000 shares[4]. - The total cash dividend for the year is 6,310,500.00 CNY, which is 100% of the total profit distribution[113]. - The distributable profit for the year is 210,541,835.48 CNY, resulting in a cash dividend per 10 shares of 0.70 CNY (including tax)[113]. - The cash dividend distribution plan is consistent with the company's articles of association and dividend management measures[112]. - The company has a policy to distribute at least 20% of profits as cash dividends during the growth phase with significant capital expenditure[113]. Shareholder Structure and Governance - The shareholding structure post-IPO includes 74.99% of restricted shares and 25.01% of unrestricted shares[158]. - The company has a diverse board with members having extensive backgrounds in finance, technology, and management, contributing to strategic decision-making[174][175][176]. - The company has maintained a stable leadership structure with no changes in the board of directors or senior management during the reporting period[174]. - The company actively protects the interests of minority shareholders through its governance practices and board structure[193]. - The company has established an independent financial accounting system and does not share bank accounts with its controlling shareholder[199]. Compliance and Accountability - The company has committed to ensuring the accuracy and completeness of its prospectus and related application materials[132]. - The company has pledged to take corrective actions if commitments are not met due to uncontrollable factors, including timely disclosure of reasons and proposing alternative commitments[128]. - The company has established a framework for accountability in case of non-fulfillment of commitments, including legal and civil liability for damages caused to investors[128]. - The company will ensure timely and adequate disclosure of any inability to fulfill commitments due to legal or policy changes[130].

Financial Performance - Total assets increased by 21.18% to CNY 664,653,683.78 compared to the end of the previous year[7] - Net assets attributable to shareholders increased by 45.04% to CNY 538,319,302.82 compared to the end of the previous year[7] - Total operating revenue for the reporting period was CNY 86,302,553.35, a 7.19% increase year-on-year[7] - Net profit attributable to shareholders increased by 141.16% to CNY 2,869,085.62 compared to the same period last year[7] - Basic earnings per share rose by 133.33% to CNY 0.042 per share[7] - Operating profit grew by 45% year-on-year, while net profit increased by 33%, attributed to the higher gross margins of professional technical services and software development compared to system integration[31] - The company reported a significant increase in retained earnings, reaching CNY 191,993,111.27, up from CNY 182,412,687.88[73] - The total profit for the third quarter was CNY 4,298,805.38, up from CNY 2,566,939.77 in the same period last year[80] - The net profit for Q3 2016 reached CNY 2,865,881.43, up from CNY 1,186,504.19 in the same period last year[76] - The total comprehensive income for the third quarter was CNY 3,642,109.42, compared to CNY 1,949,976.04 in the same period last year[81] Cash Flow and Liquidity - The company reported a net cash flow from operating activities of CNY -109,820,439.05, a 2.80% decrease compared to the previous year[7] - Cash and cash equivalents increased to CNY 215,279,757.22 from CNY 120,632,693.67[71] - The cash balance as of September 30, 2016, is 249,672,711.40 yuan, an increase from 193,060,671.17 yuan at the beginning of the period[67] - The net cash flow from financing activities was 167,169,442.46, a significant increase from 13,952,879.93 in the previous period, indicating strong financing performance[96] - The company received cash inflows from operating activities totaling ¥242,459,272, an increase from ¥227,373,422 in the previous period[91] Accounts Receivable and Risks - Accounts receivable increased from ¥119.34 million at the end of 2013 to ¥251.66 million by the end of September 2016, representing a rise from 32.23% to 45.31% of total current assets, highlighting potential risks in receivables collection[20] - Accounts receivable increased to 251,657,067.03 yuan from 190,598,492.00 yuan, reflecting a growth in outstanding payments[67] - The company faces risks related to the loss of core technical personnel, which could impact its competitive advantage in the banking and air traffic management sectors[23] - The company is exposed to software quality risks, which could lead to increased repair costs and negative impacts on customer relationships[25] Strategic Initiatives and Market Position - The company is investing in multiple R&D projects, including the "National Air Traffic Control Data Information Service System," which requires high organizational and management capabilities[21] - The company is focusing on strengthening strategic cooperation with major clients and expanding its solutions to new target customers, particularly in the regional banking market[33] - New Morning Technology is considering strategic acquisitions to enhance its product offerings and market reach[38] - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share by 2018[38] Shareholder and Corporate Governance - The top ten shareholders hold a combined 67.3% of the company's shares, with the largest shareholder, Li Fuhua, owning 14.59%[27] - The management emphasized a commitment to shareholder value, with plans for a dividend payout of 0.5 RMB per share in Q4 2016[37] - The company has committed to compensating any losses incurred by investors due to unfulfilled commitments[50] - The company will publicly explain the reasons for any failure to fulfill commitments and apologize to shareholders and investors[50] Compliance and Regulatory Matters - The company has established a commitment to avoid any form of financial occupation of its funds by related parties, ensuring compliance with relevant regulations[40] - The company must disclose the shareholding increase plan within 3 trading days after the board meeting[46] - The company is committed to implementing an equity incentive plan, linking the execution of the plan to the fulfillment of its commitments[48] - The company has made a long-term commitment to protect the interests of minority investors by adhering to the profit distribution policies outlined in its articles of association[51]