深圳市欣天科技股份有限公司 2017 年第三季度报告全文 第一节 重要提示 深圳市欣天科技股份有限公司 2017 年第三季度报告全文 深圳市欣天科技股份有限公司 2017 年第三季度报告 2017 年 10 月 1 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。 公司负责人薛枫、主管会计工作负责人秦杰及会计机构负责人(会计主管人 员)董芳芳声明：保证季度报告中财务报表的真实、准确、完整。 2 深圳市欣天科技股份有限公司 2017 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） | 494,757,971.17 | | 323,580,158.14 | 52.90% | | 归属于上市公司股东的净资产（元） | 442,280,80 ...

Financial Performance - The company reported a significant increase in revenue, achieving a total of 100 million RMB for the first half of 2017, representing a year-on-year growth of 25%[18]. - Total revenue for the reporting period was ¥115,247,030.76, a decrease of 1.71% compared to ¥117,255,580.67 in the same period last year[26]. - Net profit attributable to shareholders was ¥20,213,346.92, down 35.92% from ¥31,545,363.19 year-over-year[26]. - The gross margin for the first half of 2017 was reported at 40%, reflecting improved operational efficiency[18]. - The company achieved operating revenue of 115.25 million yuan, a year-on-year decrease of 1.71%[58]. - The net cash flow from operating activities increased by 6.02% to ¥18,827,761.35 from ¥17,758,801.77[26]. - Basic and diluted earnings per share were both ¥0.2527, representing a decrease of 51.94% from ¥0.5258[26]. - The estimated cumulative net profit for the period from the beginning of the year to the next reporting period is projected to be between 26.67 million and 35.56 million CNY, representing a decrease of approximately 40% to 20% compared to the same period last year[94]. - The company reported a net cash flow from operating activities of CNY 18,827,761.35, an increase of 6% from CNY 17,758,801.77 in the previous year[189]. Investment and Growth Strategy - The company plans to invest the funds raised from its IPO into the construction of a production base for RF metal components and a technology center, which are critical for enhancing production capacity and technological advancement[9]. - The company is focused on developing new RF components and technologies to meet the evolving demands of the mobile communication market[6]. - A strategic acquisition is planned to enhance technological capabilities, with an estimated investment of 50 million RMB[18]. - The company is focusing on R&D, allocating 10% of its revenue towards innovation and new technology development[18]. - The company has committed to invest RMB 34,755,000.00 in various projects, with only 6,390,690.00 (approximately 18.38%) actually invested by the end of the reporting period[81]. - The mobile communication RF metal component production project has achieved an investment progress of 25.88%[81]. - The technical center construction project has only reached an investment progress of 1.20%[81]. Market and Competition - The company faces risks related to industry fluctuations, particularly if domestic and international economic conditions do not improve, potentially leading to reduced capital expenditures by mobile communication operators[6]. - The company acknowledges the potential impact of intensified market competition on the implementation and profitability of its fundraising projects[9]. - The rapid expansion of the company may lead to management risks if internal coordination and management systems do not adapt to the increased scale of operations[8]. - The decline in performance is attributed to increased market competition leading to lower sales prices, rising labor costs in the Pearl River Delta, and significant increases in the procurement prices of key raw materials[94]. Shareholder and Dividend Policy - The company has decided not to distribute cash dividends or issue bonus shares, indicating a focus on reinvestment for growth[10]. - The company commits to a cash dividend distribution of no less than 20% of the annual distributable profit[117]. - In mature stages without significant capital expenditure, the cash dividend proportion should reach at least 80%[117]. - The company can distribute profits in cash, stock, or a combination of both, and may consider mid-term profit distribution under certain conditions[117]. - The company has a policy to deduct cash dividends owed to shareholders who have misappropriated company funds[117]. Risk Management - The company faces various financial risks, including credit risk, market risk, and liquidity risk, with management responsible for establishing risk management policies[95]. - The company’s liquidity risk is managed by ensuring sufficient cash to meet due debts, monitored through cash balance and cash flow forecasts[102]. - The total amount of financial liabilities due within six months is 37.54 million CNY, primarily from accounts payable[103]. Operational Efficiency - The company employs a "make-to-order" production model to align with customer demand, enhancing service response speed and quality[39]. - The company has implemented an ERP system to optimize production planning and inventory management, aiming to reduce costs[39]. - The company has implemented lean production management, improving production efficiency and supply chain responsiveness[53]. Corporate Governance - The management team has undergone changes, with a new chairman appointed to lead the company's strategic direction[25]. - The company is currently fulfilling its commitment to not repurchase shares held by major shareholders for 12 months from the IPO date[109]. - The company has outlined specific conditions under which it will initiate stock price stabilization measures[110]. - The company is actively monitoring its stock performance to ensure compliance with listing requirements and shareholder commitments[110]. Future Outlook - The company has set a future outlook with a revenue target of 250 million RMB for the full year 2017, indicating a projected growth rate of 30%[18]. - The company plans to expand its market presence, targeting new regions in Asia and Europe to increase its market share by 20% over the next two years[18]. - For the second half of 2017, the company provided a revenue guidance of 600 million yuan, indicating an expected growth of 20%[120].

Financial Performance - The company reported a total revenue of RMB 500 million for the fiscal year 2016, representing a year-on-year growth of 15%[20]. - The gross profit margin improved to 35%, up from 30% in the previous year, indicating better cost management and pricing strategies[20]. - The company's operating revenue for 2016 was CNY 240,779,603.16, representing a 16.35% increase compared to CNY 206,936,126.11 in 2015[25]. - The net profit attributable to shareholders for 2016 was CNY 57,412,461.51, which is a 9.02% increase from CNY 52,660,437.97 in 2015[25]. - The company reported a basic earnings per share of CNY 0.96 for 2016, up 9.09% from CNY 0.88 in 2015[25]. - The company achieved operating revenue of CNY 240.78 million in 2016, representing a year-on-year growth of 16.35%[62]. - The net profit attributable to shareholders was CNY 57.41 million, an increase of 9.02% compared to the previous year[62]. - Revenue from RF metal components and structural parts accounted for 88.18% of total revenue, with a growth rate of 12.20% year-on-year[67]. - Domestic revenue decreased by 10.09% to CNY 84.85 million, while international revenue increased by 38.53% to CNY 155.93 million[67]. Risks and Challenges - The company faces risks related to the loss of major customers, as its primary clients are communication equipment manufacturers and RF component manufacturers[5]. - The company is exposed to industry volatility and development limitations, particularly if domestic and international economies do not improve, potentially leading to reduced capital expenditures by telecom operators[6]. - There is a risk of declining overall gross margin due to increased competition in the RF metal component market and potential changes in product mix[7]. - The company is at risk from fluctuations in raw material prices, which could adversely affect profit margins due to rising procurement costs[9]. - Rising labor costs may impact the company's financial performance if profit growth does not keep pace with increased employee compensation[10]. - The company warns investors about the risks associated with market competition and the potential impact on the implementation and profitability of its fundraising projects[13]. - The company faces risks related to the potential loss of major clients due to competitive pressures and the need to meet evolving customer demands[105]. - The company is also exposed to industry volatility and restrictions, which could impact its business if economic conditions worsen[107]. Strategic Initiatives - The company plans to use funds raised from its IPO for the construction of a production base for RF metal components and a technology center[13]. - The company aims for a revenue guidance of RMB 600 million for 2017, reflecting a growth target of 20%[20]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in sales from this region in 2017[20]. - New product development includes the launch of a next-generation RF filter, expected to contribute an additional RMB 50 million in revenue in 2017[20]. - The company has allocated RMB 30 million for R&D in 2017, focusing on advanced RF components and technologies[20]. - A strategic acquisition of a local competitor is anticipated to enhance market share by 10% and diversify the product portfolio[20]. - The company is currently developing carbon material resonators and card-type plug terminals, which are aimed at expanding its business scope in the new energy vehicle sector[79]. - The company plans to strengthen its core business in RF metal components and structural parts, which is crucial for its operational framework[94]. - The company aims to expand into the automotive, medical, and consumer sectors, increasing investment in these areas to capture significant growth opportunities over the next decade[95]. Research and Development - The company has allocated RMB 30 million for R&D in 2017, focusing on advanced RF components and technologies[20]. - R&D expenses increased by 31.72% to CNY 17.80 million, reflecting the company's commitment to innovation[63]. - The number of R&D personnel increased to 89 in 2016, accounting for 15.21% of the total workforce, up from 12.90% in 2015[80]. - The company completed several R&D projects, including the development of metal composite materials and RF components, which are expected to lower production costs and enhance market competitiveness[79]. - The company will enhance its R&D efforts in RF metal components and new materials, leveraging partnerships with universities for technological innovation[97]. Management and Governance - The company emphasizes the importance of management capabilities as it scales operations, facing potential management risks if internal coordination does not keep up with growth[11]. - The company has a strong management team with extensive experience in quality management and operational efficiency[59]. - The company is focused on improving its management and organizational structure to enhance operational efficiency and productivity[102]. - The company has maintained stability in its leadership, with all current directors and senior management in their positions since at least December 2012[189]. - The remuneration for directors, supervisors, and senior management consists of fixed salaries and annual bonuses, directly linked to their performance and the company's operational results[200]. Shareholder and Dividend Policies - The company reported a profit distribution plan of 5.00 RMB per 10 shares (including tax) for all shareholders, based on a total share capital of 80 million shares[13]. - The cash dividend distribution for 2016 represents 69.67% of the net profit attributable to ordinary shareholders, which is RMB 57,412,461.51[125]. - The company commits to a cash dividend policy, distributing at least 20% of the annual distributable profit in cash[132]. - The company plans to distribute profits through cash, stock, or a combination of both, with a minimum of 20% of the distributable profits allocated for cash dividends each year[133]. - The company has experienced a consistent increase in cash dividends over the past three years, with 2016 showing a significant increase compared to previous years[125]. Compliance and Legal Matters - The company guarantees the accuracy and completeness of its prospectus, taking legal responsibility for any false statements or omissions[134]. - The company will refund investors' subscription payments with interest if the prospectus is found to have significant issues before the stock is listed[134]. - The company has ensured that there are no non-operating fund occupations by controlling shareholders or related parties during the reporting period[139]. - There were no significant lawsuits or arbitration matters during the reporting period[145]. - The company reported no penalties or rectification issues during the reporting period[146]. Market Position and Competitive Landscape - The company has established itself as a key supplier of RF metal components for major global telecom equipment manufacturers, including Nokia and Flextronics[35]. - The company’s core products include resonators, tuning screws, and low-pass filters, which are essential components in RF devices for mobile communication base stations[36]. - The RF metal component industry is characterized by low concentration and a fragmented competitive landscape, with many small-scale manufacturers lacking specialized focus on mobile communication[50]. - The company has established long-term and stable partnerships with numerous well-known domestic and international enterprises, including Nokia, Sanmina-SCI, and Flextronics, enhancing its market competitiveness[51]. - The company’s products are widely used in the mobile communication equipment of major manufacturers, indicating a strong market presence in the RF metal component sector[51].

Financial Performance - Total revenue for Q1 2017 was CNY 59,175,393.92, an increase of 6.01% compared to CNY 55,820,692.84 in the same period last year[8] - Net profit attributable to shareholders decreased by 19.62% to CNY 12,113,888.31 from CNY 15,070,201.59 year-on-year[8] - Net profit excluding non-recurring gains and losses fell by 24.51% to CNY 11,012,722.53 compared to CNY 14,587,479.27 in the previous year[8] - Basic and diluted earnings per share decreased by 39.73% to CNY 0.1514 from CNY 0.2512 in the same period last year[8] - Operating profit decreased to ¥13,355,120.64 from ¥16,695,456.24, reflecting a decline of approximately 20.0% year-over-year[50] - Net profit for the period was ¥12,105,717.09, down from ¥14,955,910.12, indicating a decrease of around 19.0% year-over-year[52] Cash Flow and Liquidity - Operating cash flow increased significantly by 83.04% to CNY 9,398,771.34 from CNY 5,134,766.91 in the same period last year[8] - The company reported a net cash flow from operating activities of CNY 9,398,771.34, an increase of 83.04% year-on-year[20] - Cash and cash equivalents increased by 319.13% to CNY 298,730,029.18 due to funds raised from the IPO[20] - Total cash inflow from financing activities reached ¥262,400,000.00, significantly higher than ¥12,933,200.00 in the same period last year[58] - The net cash flow from financing activities was ¥230,211,885.28, compared to a negative cash flow of ¥7,731,779.77 in the previous year[58] - The company experienced a net decrease in cash and cash equivalents of ¥24,981,805.20 during the quarter[59] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 561,137,465.57, a 73.42% increase from CNY 323,580,158.14 at the end of the previous year[8] - Current assets rose to CNY 442.71 million, up from CNY 208.96 million, marking a 111.7% increase[44] - Total liabilities decreased to CNY 87.28 million from CNY 113.23 million, a reduction of 23.0%[45] - Shareholders' equity rose to CNY 473.86 million from CNY 210.35 million, an increase of 125.5%[45] Investment and Capital - The total amount of raised funds is CNY 24,962.39 million, with no changes in usage during the reporting period[33] - The total amount of raised funds invested in the current quarter is CNY 949.55 million, with a cumulative investment of CNY 5,501.14 million, representing 22.46% of the total committed investment projects[34] - The company reported a significant increase in capital reserve to CNY 245.52 million from CNY 14.08 million, a growth of 1647.5%[45] Market and Strategic Focus - The company is focused on improving production efficiency and adjusting pricing strategies to mitigate pricing risks in the RF metal component industry[11] - The company plans to expand into new markets, including the electric vehicle sector, and has successfully mass-produced several terminal products[24] - The company is well-prepared for the ongoing demand in the telecommunications sector, particularly with the transition to 5G technology[26] - Future guidance indicates a focus on enhancing operational efficiency and exploring potential mergers and acquisitions[44] Risks and Challenges - The company faces risks related to industry fluctuations and potential limitations in industry development, particularly in the mobile communication sector[10] - The proportion of revenue from the top five customers decreased to 73.99% from 81.70% year-on-year, indicating a diversification in customer base[29] - The company is focusing on optimizing management and internal controls to reduce costs and improve efficiency[25] Shareholder Returns - The company plans to distribute a cash dividend of CNY 5.00 per 10 shares, totaling CNY 40 million, subject to shareholder approval[37] - The company has established a stable shareholder return mechanism based on its cash dividend policy[35] Other Information - The company signed three new patents during the reporting period, enhancing its technological capabilities[27] - There are no significant changes in the feasibility of investment projects or any non-compliance with external guarantees during the reporting period[38][39] - The first quarter report was not audited[60]