江苏捷捷微电子股份有限公司 2018 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。 公司负责人黄善兵、主管会计工作负责人沈欣欣及会计机构负责人(会计主 管人员)朱瑛声明：保证季度报告中财务报表的真实、准确、完整。 2 江苏捷捷微电子股份有限公司 2018 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） | 120,378,353.97 | 94,040,983.16 | | 28.01% | | 归属于上市公司股东的净利润（元） | 33,288,524.64 | 31,082,006.31 | | 7.10% | | 归属于上市公司股东的扣除非经常性 损益的净利润（元） ...

Financial Performance - The company's operating revenue for 2017 was approximately ¥430.81 million, representing a year-on-year increase of 29.91% compared to ¥331.61 million in 2016[28]. - The net profit attributable to shareholders for 2017 was approximately ¥144.15 million, an increase of 23.81% from ¥116.43 million in 2016[28]. - The net profit after deducting non-recurring gains and losses was approximately ¥138.54 million, up 23.15% from ¥112.50 million in 2016[28]. - The total assets at the end of 2017 reached approximately ¥1.36 billion, a significant increase of 138.38% from ¥571.08 million at the end of 2016[28]. - The net assets attributable to shareholders at the end of 2017 were approximately ¥1.22 billion, up 144.46% from ¥499.32 million at the end of 2016[28]. - The basic earnings per share for 2017 was ¥1.64, a slight decrease of 1.20% compared to ¥1.66 in 2016[28]. - The weighted average return on equity for 2017 was 14.29%, down from 25.88% in 2016, indicating a decrease of 11.59%[28]. - The net cash flow from operating activities for 2017 was approximately ¥122.99 million, a decrease of 9.36% from ¥135.69 million in 2016[28]. - The company reported quarterly revenues of ¥94.04 million, ¥112.82 million, ¥109.38 million, and ¥114.57 million for Q1, Q2, Q3, and Q4 respectively in 2017[30]. Product and Market Focus - The company reported that over 60% of its revenue in the reporting period came from the thyristor product line, indicating a significant reliance on this single product category[9]. - The company specializes in the research, design, production, and sales of power semiconductor chips and devices, with over 200 product varieties[38]. - The company operates under a vertical integration (IDM) model, encompassing chip design, manufacturing, packaging, testing, and sales[38]. - The company is focusing on expanding its product range and upgrading its technology, but may encounter risks if key R&D projects do not progress as expected due to long customer validation cycles[11]. - The company aims to enhance its product line by focusing on protective devices in the short term and developing MOSFET and silicon carbide power semiconductor devices in the long term[101]. - The company is expanding into emerging markets such as aerospace, automotive electronics, and IT products while maintaining its position in traditional markets[44]. - The company has successfully developed high-end thyristor products that meet international standards, contributing to the localization of semiconductor products in China[97]. - The company aims to maintain its leading position in the domestic market for thyristor products while enhancing its pricing power and product reliability, focusing on customized production and services to increase market share in high-end applications[113]. Research and Development - The company emphasizes the need to enhance its R&D capabilities to maintain a competitive edge in the power semiconductor market[9]. - The company has established a new MOS division and R&D department, enhancing its innovation capabilities and R&D efficiency[58]. - The company’s R&D efforts focus on enhancing product performance and developing customized solutions to meet client needs[48]. - Research and development expenses amounted to 20.95 million yuan, an increase of 17.05% year-on-year, indicating a commitment to enhancing R&D projects[60]. - The company is committed to increasing R&D investment and strengthening collaboration with institutions like the Chinese Academy of Sciences to ensure key projects meet their expected timelines and outcomes[115]. Competition and Market Risks - The company faces a talent shortage in the development of MOSFET, IGBT, and third-generation semiconductor products, which may adversely affect its key business and product research and development[6]. - The company is experiencing intensified market competition, with international semiconductor companies holding approximately 70% of the market share in China, leading to increased competitive risks[7]. - The company’s reliance on a single product category poses a risk of declining market share and brand recognition if it fails to diversify its product offerings[9]. - The company recognizes the risk of macroeconomic fluctuations impacting the semiconductor industry and plans to enhance product innovation and market channel development to sustain profitability[116]. Shareholder and Dividend Policies - The company plans to distribute a cash dividend of 5.00 RMB per 10 shares (including tax) and to increase capital by converting 9 shares for every 10 shares held[13]. - The company has established a cash dividend policy, committing to distribute no less than 20% of the distributable profits as cash dividends annually[120]. - The total cash dividend distributed was CNY 47,300,700.00, which represents 32.81% of the net profit attributable to shareholders[131]. - The company will distribute profits in cash unless significant investment plans arise, ensuring at least 20% of the distributable profits are allocated to dividends[123]. Financial Management and Investments - The company has a strong cash flow position, which supports its dividend policy and future growth initiatives[125]. - The company plans to utilize retained earnings and raised funds to enhance production capacity and R&D capabilities, solidifying its market position in the power semiconductor sector from 2017 to 2019[122]. - The company has committed investments totaling 60,244 million, with 34,551 million utilized and 48,306 million planned for future projects[91]. - The company reported a floating income of ¥12 million from bank wealth management products, with an expected annual return rate of 7.30%[165]. Corporate Governance and Compliance - The company has fulfilled all commitments made during the asset restructuring and public offering process as of the report date[132]. - The company has not faced any penalties from the China Securities Regulatory Commission or other regulatory bodies, ensuring compliance with market regulations[195]. - The management structure includes a diverse team with no conflicts of interest among board members, ensuring effective governance[194]. - The company has established a commitment to maintain the rights and interests of all shareholders, ensuring that return measures are effectively implemented[142]. Future Outlook and Strategic Goals - The company aims to become a globally competitive manufacturer and brand operator of power semiconductor devices, focusing on creating value for customers and shareholders while fulfilling social responsibilities[107]. - The company plans to replace imported products with its high-end products, maximizing profitability and reducing reliance on international semiconductor companies[105]. - The company recognizes a significant reliance on thyristor products, which accounted for over 60% of its revenue during the reporting period, indicating a risk of product structure singularity[112]. - The company plans to stabilize its stock price through share repurchase measures if the stock price falls below the audited net asset value per share for 20 consecutive trading days[136].

Financial Performance - Total assets reached ¥1,331,113,864.46, an increase of 133.09% compared to the previous year[6] - Net assets attributable to shareholders increased to ¥1,189,115,171.52, up 138.15% year-over-year[6] - Operating revenue for the period was ¥109,376,574.02, representing a 22.86% increase compared to the same period last year[6] - Net profit attributable to shareholders was ¥39,937,025.49, a slight increase of 0.66% year-over-year[6] - The basic earnings per share decreased by 24.72% to ¥0.4267[6] - The weighted average return on equity was 3.42%, down 61.13% compared to the previous year[6] - Operating revenue grew by 32.41% to approximately ¥316.24 million, driven by increased sales[14] - The company achieved a net profit increase of 33.59%, with retained earnings reaching approximately ¥336.22 million[14] - The total comprehensive income for the current period was ¥112,611,529.26, compared to ¥88,366,842.12 in the previous period, reflecting an increase of about 27.4%[45] - The total comprehensive income for the third quarter was CNY 115,622,258.78, compared to CNY 86,007,465.41 in the same period last year, representing an increase of approximately 34.3%[49] Assets and Liabilities - The company's cash and cash equivalents increased by 270.18% to approximately ¥465.86 million, primarily due to funds raised from the IPO[14] - Accounts receivable rose by 57.80% to approximately ¥59.83 million, attributed to an increase in accepted bills during the reporting period[14] - The company's fixed assets increased by 71.81% to approximately ¥255.65 million, mainly due to investments in fundraising projects[14] - The company's total liabilities increased significantly, with accounts payable rising by 131.76% to approximately ¥87.82 million, mainly due to increased payables for engineering equipment[14] - The total liabilities increased to CNY 141,998,692.94 from CNY 71,757,263.14, which is an increase of about 97%[30] - The company held a total of CNY 129,230,390.90 in current liabilities, up from CNY 64,140,010.19, representing an increase of about 101%[30] Cash Flow - Cash flow from investing activities showed a net outflow of CNY 502,512,869.75, compared to a net outflow of CNY 79,761,196.33 in the previous year, indicating a significant increase in investment activities[53] - Cash flow from financing activities resulted in a net inflow of CNY 575,096,877.04, a turnaround from a net outflow of CNY 10,710,000.00 in the same period last year[53] - The ending balance of cash and cash equivalents was CNY 297,142,449.73, up from CNY 129,753,027.57 at the end of the previous year[53] - The company reported a total cash inflow from operating activities of CNY 328,652,048.51, compared to CNY 264,791,084.34 in the previous year, marking an increase of approximately 23.9%[56] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 16,873[10] - The largest shareholder, Jiangsu JieJie Investment Co., Ltd., held 32.05% of the shares[10] - The company did not engage in any repurchase transactions during the reporting period[11] Investments and Projects - The company plans to expand its production capacity with new projects, including a "power electronic device packaging production line" and a "new type of chip component packaging production line" in the Qidong Economic Development Zone[16] - The company has made substantial investments in research and development, reflected in a 26.96% increase in management expenses[14] - The company engaged in institutional research activities with various financial institutions to discuss production capacity and gross margin[17] - The company has been actively expanding its investment and product development strategies as discussed in institutional meetings[18] Government Subsidies - The company received a total of government subsidies amounting to CNY 12,127,000 from January to the reporting period[20] - The company plans to utilize government subsidies efficiently to positively impact the net profit for the year 2017[21]

Financial Performance - The company reported a total revenue of RMB 200 million for the first half of 2017, representing a year-on-year increase of 15% compared to RMB 174 million in the same period of 2016[14]. - The net profit attributable to shareholders was RMB 30 million, up 20% from RMB 25 million in the first half of 2016[14]. - Total revenue for the reporting period reached ¥206,860,555.64, representing a 38.08% increase compared to ¥149,811,867.90 in the same period last year[21]. - Net profit attributable to shareholders was ¥72,674,503.77, up 49.25% from ¥48,692,495.85 year-on-year[21]. - The company's operating revenue for the reporting period was ¥206,860,555.64, representing a year-on-year increase of 38.08% due to sales growth[46]. - The net profit for the current period is CNY 73,082,142.69, up 45.4% from CNY 50,263,736.96 in the previous period[132]. - Operating profit was CNY 82.69 million, reflecting a growth of 46.6% from CNY 56.32 million in the same period last year[129]. - The total comprehensive income for the current period is CNY 73,082,142.69, an increase of 45.4% from CNY 50,263,736.96 in the previous period[133]. Assets and Liabilities - The total assets of the company reached RMB 1.5 billion, an increase of 10% from RMB 1.36 billion at the end of 2016[14]. - Total assets at the end of the reporting period were ¥1,242,600,962.22, a significant increase of 117.59% from ¥571,079,887.73 at the end of the previous year[21]. - The company's total assets saw a substantial increase, with cash and cash equivalents accounting for 39.62% of total assets at the end of the reporting period[50]. - Total liabilities increased to CNY 93.42 million from CNY 71.76 million, representing a rise of 30.2%[121]. - The company's total equity at the end of the period was 499.3 million yuan, with a decrease of 35 million yuan from the previous period[145]. Cash Flow - The net cash flow from operating activities decreased by 3.61% to ¥54,043,440.03 from ¥56,069,342.06 year-on-year[21]. - The company's cash and cash equivalents increased by 366.41 million yuan, a growth of 291.16%, primarily due to the receipt of raised funds[37]. - Cash inflow from financing activities reached ¥609,975,679.84, a substantial increase from ¥1,910,000.00 in the prior period[140]. - The ending cash and cash equivalents balance increased to ¥224,279,268.87 from ¥90,950,022.70, marking a growth of approximately 146%[140]. Research and Development - Research and development expenses accounted for 8% of total revenue, reflecting the company's commitment to innovation and technology advancement[14]. - The company has developed over 200 types of power semiconductor chips and devices, primarily used in various consumer and industrial applications[28]. - The company has increased its investment in R&D to ensure high efficiency and conversion rates of research outcomes, thereby improving market competitiveness[33]. - Research and development expenses increased by 6.46% to ¥9,222,871.84, reflecting the company's commitment to innovation[46]. Market Strategy and Expansion - The company aims to expand its market presence in Southeast Asia, targeting a 25% increase in sales in that region by the end of 2018[14]. - The marketing strategy focuses on establishing a comprehensive marketing team to enhance brand recognition and market share through strategic partnerships with clients[31]. - The company is expanding into emerging markets such as aerospace, automotive electronics, and IT products while maintaining its advantages in traditional markets[33]. - The company plans to invest in new product development, focusing on power semiconductor devices, to enhance its market competitiveness[14]. Risks and Challenges - The company faces risks related to market competition and supply chain disruptions, with strategies in place to mitigate these risks[6]. - The semiconductor industry is highly competitive, with international companies holding around 70% of the market share in China, increasing competitive pressure on the company[71]. - The company relies heavily on thyristor products, which accounted for over 60% of its revenue during the reporting period, posing a risk due to product structure singularity[70]. - The company faces risks related to technological substitution, as it must keep pace with rapid advancements in semiconductor technology to maintain its market position[70]. Corporate Governance and Compliance - The company has established a special account for raised funds and signed a tripartite supervision agreement with Southwest Securities[4]. - The company has made amendments to internal control systems to prevent fund occupation by controlling shareholders and related parties[9]. - The company has not engaged in any significant litigation or arbitration matters during the reporting period, reflecting a stable legal environment[80]. - The financial report was approved by the board on August 8, 2017, reflecting the company's financial status as of June 30, 2017[153]. Shareholder Information - The company has not declared any cash dividends or bonus shares for the reporting period[7]. - The company will distribute a cash dividend of RMB 3.00 per 10 shares, with a differentiated tax rate for different types of shareholders[96]. - Total shareholders at the end of the reporting period reached 17,999[104]. - Jiangsu JieJie Investment Co., Ltd. holds 32.05% of shares, totaling 30,000,000 shares[104].

Financial Performance - Revenue for Q1 2017 reached ¥94,040,983.16, representing a 39.62% increase compared to ¥67,357,043.15 in the same period last year[7] - Net profit attributable to shareholders was ¥31,082,006.31, up 56.93% from ¥19,806,023.39 year-on-year[7] - Net profit excluding non-recurring gains and losses was ¥30,806,276.10, reflecting a 57.65% increase from ¥19,540,731.56 in the previous year[7] - Basic earnings per share increased to ¥0.3321, a rise of 56.95% compared to ¥0.2829 in the same period last year[7] - Total operating revenue for the first quarter reached ¥94,040,983.16, an increase of 39.6% compared to ¥67,357,043.15 in the previous period[31] - Net profit for the period was ¥31,082,006.31, representing a 56.8% increase from ¥19,806,023.39 in the same period last year[32] - The total comprehensive income for Q1 2017 was CNY 31,250,290.07, compared to CNY 20,000,929.31 in the same period last year, marking a growth of 56.3%[37] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,289,785,633.33, a significant increase of 195.30% from ¥436,766,414.04 at the end of the previous year[7] - The company's total assets increased to ¥1,186,652,682.84 from ¥558,644,370.94, marking a growth of 112.5%[28] - Current assets totaled ¥900,499,220.32, significantly up from ¥270,477,640.08, indicating a rise of 232.5%[28] - The company's total liabilities increased to ¥154,134,403.17 from ¥71,757,263.14, reflecting the overall growth in financial obligations[25] - The total liabilities decreased to ¥49,181,418.81 from ¥57,669,996.24, a reduction of 14.5%[29] Cash Flow - The net cash flow from operating activities was ¥18,374,927.13, down 30.09% from ¥26,282,930.57 in the same period last year[7] - The company reported a net cash flow from operating activities of ¥18,374,927.13, down 30.09% from ¥26,282,930.57, mainly due to increased purchases and employee compensation[15] - Cash flow from operating activities generated a net amount of CNY 18,374,927.13, down 30.2% from CNY 26,282,930.57 in the previous year[40] - The net cash flow from investing activities was -9,539,807.20 CNY, compared to -10,021,737.25 CNY in the previous period, indicating a slight improvement[44] - The net cash flow from financing activities was 602,526,710.94 CNY, a significant increase from -30,700,000.00 CNY in the previous period, reflecting strong capital inflow[44] - The net increase in cash and cash equivalents was 612,246,180.75 CNY, contrasting with a decrease of -13,507,640.26 CNY in the previous period, indicating strong liquidity improvement[44] Investments and Expenses - The company’s investment activities generated a net cash outflow of ¥40,615,730.20, a 271.30% increase in outflow compared to ¥10,938,716.25, primarily due to increased fixed asset purchases[15] - The company incurred financial expenses of CNY -48,378.67, a decrease from CNY -107,558.23 in the previous year, indicating improved cost management[36] - The company’s income tax expense rose to ¥5,458,662.48, a 57.56% increase from ¥3,464,607.12, attributed to higher sales revenue[15] Shareholder Equity - Net assets attributable to shareholders reached ¥1,135,651,230.16, up 182.01% from ¥402,702,216.60 at the end of the previous year[7] - The equity attributable to owners of the parent company increased to ¥1,137,471,264.03 from ¥500,974,374.70, reflecting a growth of 126.7%[29] - Cash and cash equivalents increased to ¥706,131,134.19 from ¥125,845,226.32, a growth of 461.11% primarily due to funds raised from the company's IPO[15] Operational Highlights - Operating costs rose to ¥42,057,079.97, a 34.86% increase compared to ¥31,185,215.69, reflecting higher sales volume[15] - Total operating costs amounted to ¥57,824,702.85, up from ¥44,398,520.68, reflecting a growth of 30%[32] - The company reported a significant increase in inventory, which rose to ¥57,638,258.67 from ¥53,764,232.02, a growth of 7.3%[28] Other Information - The company received government subsidies amounting to ¥240,000 during the reporting period[8] - There were no significant non-recurring gains or losses reclassified as regular gains or losses during the reporting period[9] - The company did not undergo an audit for the first quarter report, which may affect the perception of financial reliability[45] - The report was presented by Chairman Huang Shanbing on April 14, 2017, indicating the company's commitment to transparency[46]