上海古鳌电子科技股份有限公司 2017 年第一季度报告全文 上海古鳌电子科技股份有限公司 所有董事均已出席了审议本次季报的董事会会议。 公司负责人陈崇军、主管会计工作负责人姜小丹及会计机构负责人(会计主 管人员)赵迎宾声明：保证季度报告中财务报表的真实、准确、完整。 2 上海古鳌电子科技股份有限公司 2017 年第一季度报告全文 2017 年第一季度报告 2017-033 2017 年 04 月 1 上海古鳌电子科技股份有限公司 2017 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。 单位：元 | 项目 | 年初至报告期期末金额 | 说明 | | --- | --- | --- | | 计入当期损益的政府补助（与企业业务密切相关，按照国家统 一标准定额或定量享受的政府补助除外） | 1,600,000.00 | | | 除上述各项之外的其他营业外收入和支出 | 128,332.31 | | | 减：所得税影响额 | 259,249.85 | | | 合计 | 1,4 ...

Revenue and Financial Performance - The company's operating revenue for 2016 was ¥262,787,894.26, an increase of 1.94% compared to ¥257,775,612.26 in 2015[24]. - The net profit attributable to shareholders for 2016 was ¥38,014,917.06, a decrease of 25.02% from ¥50,702,957.83 in 2015[24]. - The net cash flow from operating activities was -¥37,604,666.44, a decline of 279.55% compared to ¥20,944,007.13 in 2015[24]. - The total assets at the end of 2016 amounted to ¥703,986,560.43, representing an increase of 48.90% from ¥472,797,840.33 at the end of 2015[24]. - The net assets attributable to shareholders increased by 88.49% to ¥514,005,942.45 at the end of 2016 from ¥272,692,207.60 at the end of 2015[24]. - The basic earnings per share for 2016 was ¥0.6548, down 28.97% from ¥0.9219 in 2015[24]. - The company reported a total of ¥4,304,487.27 in non-recurring gains and losses for 2016, compared to ¥10,695,087.71 in 2015[30]. - Total revenue for 2016 was ¥262,787,894.26, a 1.94% increase from ¥257,775,612.26 in 2015[51]. - Revenue from the electronic information industry - finance segment decreased by 1.89% to ¥246,084,911.97, accounting for 93.64% of total revenue[51]. - The cash counting series revenue increased by 26.67% to ¥95,612,108.51, while the cash sorting series revenue decreased by 17.50% to ¥132,640,302.98[51]. - Domestic revenue slightly decreased by 0.57% to ¥249,074,098.85, while international revenue surged by 88.48% to ¥13,713,795.41[51]. - Gross profit margin for the electronic information - finance segment was 47.56%, a slight decrease of 0.03% compared to the previous year[53]. Client and Market Risks - The company reported a significant revenue concentration risk due to its primary clients being banks, which may impact normal operations if their purchasing plans change[6]. - The company's financial performance is closely tied to the operational health of its major banking clients, which could pose risks if their financial conditions change[6]. - The company is in a rapid growth phase, supported by strong innovation capabilities and a solid customer base, but faces risks from potential policy changes in the financial equipment sector[12]. - The total sales amount from the top five customers was ¥181,600,890.84, representing 69.11% of total annual sales[57]. Research and Development - The company maintains a strong R&D team and has not experienced any significant turnover or technology leaks, which is crucial for sustaining its competitive edge[11]. - The company has made significant investments in technology development, with an increase in intangible assets by ¥668,360.53 during the reporting period[35]. - As of December 31, 2016, the company and its subsidiaries have obtained a total of 423 patents, including 78 invention patents, 304 utility model patents, and 41 design patents[37]. - The company has also secured 59 software copyrights and developed 30 software products, showcasing its strong R&D capabilities[37]. - The company has made significant investments in R&D, which has led to substantial patent achievements over the years[37]. - The company’s ongoing efforts in technology development are expected to enhance operational efficiency and customer satisfaction in cash processing solutions[41]. - In 2016, the company achieved a research and development investment of CNY 31.89 million, an increase of 31.77% compared to the previous year[46]. - The company has a robust strategy for technology development and market expansion, ensuring it remains competitive in the financial equipment industry[11]. Cash Management and Investment - The company has established a comprehensive supplier management system to mitigate risks associated with raw material procurement[10]. - The company has approved the use of up to RMB 100 million of idle raised funds for cash management, ensuring it does not affect the investment projects[71]. - The investment project for intelligent cash handling equipment has a total commitment of RMB 114.7728 million, with only 2.80% of the investment completed by the end of the reporting period[73]. - The service network system construction project has a total commitment of RMB 50 million, with 30.66% of the investment completed[73]. - The technology center enhancement project has a total commitment of RMB 38.66 million, with only 0.05% of the investment completed[73]. Shareholder and Governance - A profit distribution plan was approved, proposing a cash dividend of 0.60 yuan per 10 shares, based on a total of 73,360,000 shares[13]. - The company has established a policy to ensure that no shares are transferred within six months of resignation if the resignation is declared within the first six months post-IPO[94]. - The company has committed to fulfilling its share transfer commitments as outlined in the public offering[92]. - The company has a structured approach to managing share transfers to maintain stability in its stock price post-IPO[93]. - The company emphasizes compliance with all commitments regarding share transfers and management during the lock-up period[95]. - The company has established an independent financial department and accounting system, ensuring autonomous financial decision-making[174]. - The company has a stable profit distribution policy and dividend plan to reward shareholders[134]. Operational Efficiency and Cost Management - Raw material costs constitute a significant portion of operating costs, and while prices remained stable during the reporting period, any future volatility could adversely affect operations[10]. - The cost of raw materials accounted for 78.90% of total operating costs, with a slight increase from 77.30% in 2015[55]. - The company has implemented standardization in product models and production processes, optimizing production and reducing manufacturing costs[46]. - The company has strengthened its fundraising project management and improved its R&D capabilities post-listing[47]. Employee and Management Structure - The total number of employees in the company is 781, with 266 in the parent company and 515 in major subsidiaries[163]. - The professional composition includes 279 production personnel, 216 sales personnel, 194 technical personnel, and 23 financial personnel[163]. - The total remuneration for directors and senior management during the reporting period amounts to 2,232,600 RMB[162]. - The company has established a performance-based compensation system linked to key performance indicators (KPIs) to attract and retain talent[165]. - The training plan includes new employee orientation, on-the-job skill enhancement, and management training to improve overall employee capabilities[166]. Compliance and Internal Control - The audit report issued by the accounting firm was a standard unqualified opinion[187]. - The financial statements were prepared in accordance with accounting standards and fairly reflect the company's financial position as of December 31, 2016[192]. - There were no significant lawsuits or arbitration matters during the reporting period[115]. - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties during the reporting period[112]. - The company has not engaged in any related party transactions that could be deemed unfair or competitive with the controlling shareholder[173].

Financial Performance - Total operating revenue for the reporting period was CNY 46,307,490.25, an increase of 164.43% year-on-year[7] - Net profit attributable to shareholders for the reporting period was CNY 844,354.31, representing a year-on-year increase of 108.67%[7] - Basic earnings per share for the reporting period were CNY 0.0154, up 108.67% compared to the same period last year[7] - The weighted average return on net assets was 0.29%, an increase of 107.00% year-on-year[7] - The company reported a significant increase in revenue for Q3 2016, with total revenue reaching 1.5 billion RMB, representing a 25% year-over-year growth[30] - The company reported a net profit margin of 12% for Q3 2016, up from 10% in the previous quarter[32] - The net profit for the quarter was ¥844,354.31, a turnaround from a net loss of ¥9,734,456.11 in the previous year, marking a substantial improvement[63] - The company reported a total profit of ¥1,220,113.56, compared to a loss of ¥9,734,456.11 in the previous year, indicating a significant recovery[63] Cash Flow and Assets - The net cash flow from operating activities for the year-to-date was CNY -125,706,438.70, a decrease of 38.27%[7] - As of September 30, 2016, cash and cash equivalents amounted to 46.31 million RMB, a decrease of 70.89% compared to the beginning of the year, primarily due to seasonal customer payments and increased operational investments[18] - The company's cash and cash equivalents decreased from CNY 159,052,346.13 at the beginning of the period to CNY 46,306,849.78 at the end of the period, representing a decline of approximately 70.9%[54] - The total cash and cash equivalents at the end of the period stood at CNY 45,434,849.78, slightly up from CNY 45,234,700.38 in the previous quarter[79] - The net cash flow from operating activities decreased by 34.80 million RMB compared to the previous year, despite an increase in cash received from operations by 26.92 million RMB[19] - The cash flow from financing activities included CNY 30,500,000.00 from borrowings, significantly higher than CNY 10,000,000.00 in the previous year[79] Operational Insights - The company has a high customer concentration risk, primarily serving banks, which may impact normal operations due to changes in clients' financial conditions[10] - The company faces seasonal revenue fluctuations, with higher sales typically occurring in the second half of the year, particularly in Q4[10] - The company has established a strict supplier management system to mitigate risks associated with raw material price fluctuations[11] - The company emphasizes continuous R&D to maintain technological leadership, with no significant loss of key technical personnel reported during the period[12] - The company has maintained a competitive edge through continuous high R&D investment, focusing on product quality and leveraging technology, products, and management advantages[21] - The company is investing heavily in R&D, with a budget allocation of 200 million RMB for new technology development in 2017[30] Market and Growth Strategies - The company provided a positive outlook for Q4 2016, projecting a revenue growth of 20% compared to Q3 2016[31] - New product launches are expected to contribute an additional 300 million RMB in revenue in the next quarter[29] - Market expansion plans include entering two new international markets by the end of 2017, targeting a 10% market share in each[32] - The company is considering strategic acquisitions to enhance its product offerings, with a budget of 500 million RMB earmarked for potential deals[31] - The management emphasized the importance of strategic partnerships, aiming to establish at least three new partnerships by the end of 2016 to drive growth[38] Financial Position - Total assets at the end of the reporting period were CNY 450,620,767.66, a decrease of 4.69% compared to the end of the previous year[7] - Total liabilities decreased from CNY 200,111,417.18 to CNY 162,500,239.69, reflecting a decline of approximately 18.8%[56] - The company's retained earnings increased from CNY 156,325,589.84 to CNY 171,762,717.46, an increase of about 9.9%[57] - The total equity attributable to shareholders rose from CNY 272,692,207.60 to CNY 288,129,335.22, representing an increase of approximately 5.7%[57] Expenses and Cost Management - Operating costs increased to 82.12 million RMB, a rise of 60.77% year-over-year, correlating with the growth in sales revenue[18] - Sales expenses rose to 30.78 million RMB, up 38.44% from the previous year, attributed to investments in sales and after-sales network expansion and new product promotions[18] - Management expenses increased to 36.39 million RMB, a 33.80% rise year-over-year, primarily due to enhanced investment in new product R&D projects[18] - The company plans to implement cost-cutting measures to improve profit margins, targeting a reduction of operational costs by 10% in the next fiscal year[37] Shareholder and Regulatory Commitments - The company has committed to repurchasing shares with a total amount not exceeding 50% of the cash dividends received after listing or CNY 20 million, whichever is higher[46] - The company has not declared any profit distribution during the reporting period[48] - The company is ensuring compliance with legal and regulatory requirements related to share repurchase obligations[45] - The company has outlined measures to protect its interests and those of its shareholders against potential losses due to breaches of commitments by its executives[45]