Financial Performance - In the first three quarters of 2022, the company achieved operating revenue of 1.968 billion, a 7.80% increase compared to 1.826 billion in the same period last year [3] - The net profit attributable to shareholders reached 151 million, up 11.24% from 136 million last year [3] - The net profit after deducting non-recurring gains and losses was 132 million, a 22.39% increase from 108 million last year [3] - In Q3 2022, the company reported operating revenue of 968 million, a 14.61% increase from 845 million in Q3 2021 [3] - The net profit attributable to shareholders in Q3 was 122 million, up 9.34% from 112 million in the same quarter last year [3] Market Outlook - The company anticipates continued interest in foldable smartphones, with various brands launching multiple models to capture market share [4] - The MIM (Metal Injection Molding) components for foldable smartphone hinges are expected to see increased demand as brands seek to enhance their designs [4] - The competitive landscape in the MIM industry is not expected to change significantly due to the complexity of expanding production capabilities [4] Product Development - The company is actively engaged in R&D for MIM components and hinges for foldable smartphones, collaborating with various terminal clients [4] - The average value of MIM components in foldable smartphone hinges is projected to decrease as manufacturers shift to more cost-effective designs [5] - The company claims advantages in precision and material requirements for MIM components, which are critical for the performance of foldable smartphone hinges [5] Strategic Initiatives - The company is exploring opportunities in emerging fields such as AR and VR, although current involvement is limited [6] - The acquisition of Ruidian Precision is aimed at expanding capabilities in precision plastic components, complementing the existing MIM business [6] - The integration of MIM and precision plastic capabilities is expected to enhance the company's offerings in the automotive sector, particularly in electric vehicles [7] Financial Liabilities - The company is in the process of recovering outstanding payments related to a previous acquisition, with 730,000 already repaid and further payments being pursued [7]

Financial Performance - The company's operating revenue for Q3 2022 was ¥968,140,262, representing a 14.61% increase compared to ¥844,737,194 in the same period last year[5] - Net profit attributable to shareholders for Q3 2022 was ¥122,457,022, reflecting a 9.34% increase from ¥112,000,265 in the previous year[5] - The net profit after deducting non-recurring gains and losses was ¥118,347,049, which is a 15.54% increase from ¥102,426,126 year-on-year[5] - Basic earnings per share for Q3 2022 were ¥0.66, down 2.94% from ¥0.68 in the previous year[5] - The company reported a net profit of CNY 145,543,978.53 for the period, compared to CNY 137,529,178.37 in the previous period, reflecting an increase of approximately 5.9%[25] - The net profit for Q3 2022 was CNY 142,829,027.64, an increase of 10.4% compared to CNY 129,478,775.83 in Q3 2021[27] - Operating profit for Q3 2022 reached CNY 148,360,110.14, up from CNY 126,026,339.62 in the same period last year, reflecting a growth of 17.7%[27] - Total revenue from operating activities was CNY 2,032,595,411.25, compared to CNY 1,630,195,490.95 in Q3 2021, indicating a year-over-year increase of 24.7%[28] - The company reported a total comprehensive income of CNY 135,353,183.82 for Q3 2022, compared to CNY 128,379,505.00 in Q3 2021, marking an increase of 5.5%[27] Cash Flow and Assets - The company's cash flow from operating activities showed a significant decline, with a net cash flow of -¥82,006,645, a decrease of 262.27% compared to -¥50,537,295 in the same period last year[5] - Operating cash flow net amount improved by 262.27% to ¥82,006,645.36, mainly due to increased cash received from sales of goods and services[13] - Investment cash flow net amount decreased by 69.99% to -¥164,065,632.81, primarily due to reduced cash payments for fixed assets and other long-term assets[13] - Financing cash flow net amount decreased by 216.65% to -¥41,625,461.14, mainly due to payments for equity transfer related to the acquisition of Ruidian Precision[13] - Cash and cash equivalents at the end of the period increased by 162.15% to ¥405,577,341.31, influenced by changes in cash flows from operating, investing, and financing activities[13] - The company's cash and cash equivalents decreased to CNY 463,564,483.48 from CNY 558,055,673.97, a decline of about 16.9%[22][23] Balance Sheet Items - Total assets as of September 30, 2022, were ¥4,018,468,345.95, an increase of 7.38% from ¥3,742,241,460.23 at the end of the previous year[5] - Accounts receivable financing increased by 74.58% to ¥25,267,032.13 compared to ¥14,472,761.37 at the end of the previous year[9] - Inventory increased by 55.37% to ¥630,991,229.76, primarily due to reasonable stocking during the reporting period[9] - Contract liabilities rose by 83.25% to ¥31,084,582.66, attributed to an increase in advance payments received during the reporting period[9] - Other receivables surged by 428.64% to ¥24,489,259.44, mainly due to an increase in deposits at the end of the reporting period[9] - Other payables increased by 72.32% to ¥187,958,474.74, primarily due to the payable for equity transfer to Changzhou Ruidian[10] - Long-term borrowings rose by 1659.85% to ¥52,000,000.00, mainly due to increased loans during the reporting period[10] - Non-current liabilities increased by 62.91% to ¥91,279,051.17, primarily due to increased loans[10] - The company's short-term borrowings increased to CNY 287,293,608.29 from CNY 226,005,527.76, representing a rise of approximately 27.1%[23] Shareholder Information - Major shareholders include Wang Mingxi with 9,040,300 shares and Changzhou Chuangyan Investment Consulting Co., Ltd. with 8,893,944 shares[16] - The company’s board members and senior management have restrictions on transferring shares, limited to 25% of their total holdings annually[17] - The company’s stock incentive plan includes a three-year unlocking schedule for restricted shares, with 40% already unlocked in the first phase[18] - The company reported a total of 38,163,988 restricted shares at the beginning of the period, with 419,975 shares held by other restricted shareholders[18] - The company’s major shareholders are involved in margin trading, holding significant shares through various investment funds[16] - The company’s actual controller, Wang Mingxi, and Huang Yichao, have a familial relationship, with Huang holding 59.50% of Changzhou Chuangyan Investment Consulting Co., Ltd.[16] - The company’s stock structure includes various private equity funds, indicating a diverse shareholder base[16] Regulatory and Corporate Actions - The company completed the acquisition of 100% equity in Changzhou Ruidian Precision Technology Co., Ltd., which has been included in the consolidated financial statements[19] - The company received approval from the China Securities Regulatory Commission for the issuance of convertible bonds to unspecified objects in September 2022[19] - The company transferred a 5% stake in its subsidiary, Changzhou Boyan Technology Co., Ltd., for a total valuation of CNY 24 million, maintaining a 95% ownership post-transfer[20]

[Important Notes, Table of Contents, and Definitions](index=2&type=section&id=%E7%AC%AC%E4%B8%80%E8%8A%82%20%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA%E3%80%81%E7%9B%AE%E5%BD%95%E5%92%8C%E9%87%8B%E4%B9%89) This section provides crucial disclaimers, defines key terms, and outlines the report's structure [Important Notes](index=2&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) The company's board and management assure the report's accuracy and completeness, with all directors attending the review meeting - The company's management guarantees the truthfulness, accuracy, and completeness of the report content, with no false records, misleading statements, or major omissions[3](index=3&type=chunk) - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for this half-year period[4](index=4&type=chunk) [Definitions](index=5&type=section&id=%E9%87%8B%E4%B9%89) This chapter defines key terms used in the report, including the company, its subsidiaries, controlling shareholders, MIM technology, and TWS - MIM (Metal Injection Molding) is the company's core technology, combining traditional powder metallurgy with modern plastic injection molding for near-net-shape forming[11](index=11&type=chunk) - The company's controlling shareholders and ultimate beneficial owners are Wang Mingxi and Huang Yichao, who are father and daughter[11](index=11&type=chunk) [Company Profile and Key Financial Indicators](index=6&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B%E5%92%8C%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) This section introduces the company and presents its key financial performance metrics for the reporting period [Company Profile](index=6&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B) Jiangsu Jingyan Technology Co., Ltd. (Stock Code: 300709) is a company listed on the Shenzhen Stock Exchange Company Profile | Item | Content | | :--- | :--- | | Stock Abbreviation | Jingyan Technology | | Stock Code | 300709 | | Listing Exchange | Shenzhen Stock Exchange | | Legal Representative | Wang Mingxi | [Key Accounting Data and Financial Indicators](index=7&type=section&id=%E5%9B%9B%E3%80%81%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) In H1 2022, the company achieved revenue of **1.001 billion yuan**, a **1.95%** increase, and net profit attributable to shareholders of **28.78 million yuan**, up **20.13%** H1 2022 Key Financial Indicators | Indicator | Current Period (million yuan) | Prior Year (Adjusted) (million yuan) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,000.8 | 981.7 | 1.95% | | Net Profit Attributable to Shareholders | 28.78 | 23.95 | 20.13% | | Net Profit Excluding Non-recurring Items | 13.56 | 5.35 | 153.61% | | Net Cash Flow from Operating Activities | 43.55 | 48.28 | -9.79% | | Basic Earnings Per Share (yuan/share) | 0.15 | 0.14 | 7.14% | | Weighted Average Return on Net Assets | 1.30% | 1.38% | -0.08% | | Total Assets (billion yuan) | 3.76 | 3.74 | 0.41% | | Net Assets Attributable to Shareholders (billion yuan) | 2.18 | 2.38 | -8.45% | [Non-recurring Gains and Losses and Amounts](index=8&type=section&id=%E5%85%AD%E3%80%81%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%8F%8A%E9%87%91%E9%A2%9D) Non-recurring gains and losses totaled **15.21 million yuan**, primarily from fair value changes in financial assets and government grants H1 2022 Non-recurring Gains and Losses | Item | Amount (million yuan) | | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | 0.79 | | Government Grants | 7.98 | | Gains/Losses from Transactional Financial Assets/Liabilities | 8.55 | | Other Non-operating Income/Expenses | 1.04 | | Less: Income Tax Impact | 2.76 | | Less: Impact on Minority Interests (after tax) | 0.39 | | **Total** | **15.21** | [Management Discussion and Analysis](index=9&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E7%AE%A1%E7%90%86%E5%B1%82%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) This section provides an in-depth analysis of the company's operational performance, financial condition, and future outlook [Main Business and Operations](index=9&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E4%BB%8E%E4%BA%8B%E7%9A%84%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1) In H1 2022, the company focused on MIM technology while expanding into six business segments, achieving revenue of **1.001 billion yuan** despite pandemic impacts - The company has formed six major business segments: precision metal manufacturing (MIM), transmission, precision plastics, thermal modules, intelligent manufacturing services, and electronic manufacturing[37](index=37&type=chunk)[38](index=38&type=chunk) - During the reporting period, due to the pandemic, demand from some downstream customers decreased or was delayed, and logistics disruptions led to project delivery delays[42](index=42&type=chunk) H1 2022 Performance Overview | Indicator | Amount (million yuan) | YoY Growth | | :--- | :--- | :--- | | Operating Revenue | 1,000.8 | 1.95% | | Net Profit Attributable to Shareholders | 28.78 | 20.13% | - The company continued to integrate its subsidiaries, Antixin and Ruidian Precision, shifting Antixin's strategy towards "profit-oriented" and deeply involving in Ruidian Precision's daily operations[44](index=44&type=chunk) [Core Competitiveness Analysis](index=15&type=section&id=%E4%BA%8C%E3%80%81%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) The company's core strengths lie in its organizational culture, customer base, R&D, full-process control, rapid response, and internal management - The company was recognized as a "National Manufacturing Single Champion Demonstration Enterprise" by the Ministry of Industry and Information Technology in November 2021[41](index=41&type=chunk) - The company has accumulated a large number of well-known brand customers in consumer electronics and automotive sectors, including Customer A, Samsung, Xiaomi, OPPO, and vivo[48](index=48&type=chunk) - In R&D, the company continues to develop high-strength lightweight metal structural materials (such as titanium alloys), ultra-high-strength steel, and high-polish materials, with some products already in mass production or batch application[50](index=50&type=chunk)[51](index=51&type=chunk) - The company's developed micro-pumps have achieved mass production in robotic vacuum cleaners, and smart flexible screen folding phone hinge products have also entered mass production[52](index=52&type=chunk) [Main Business Analysis](index=17&type=section&id=%E4%B8%89%E3%80%81%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%88%86%E6%9E%90) Financial expenses significantly decreased by **125.71%** due to convertible bond delisting, while transmission and precision plastic businesses saw high growth Key Financial Data YoY Changes | Item | Current Period (million yuan) | Prior Year (million yuan) | YoY Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Financial Expenses | -3.93 | 15.28 | -125.71% | Decrease in interest expense due to convertible bond delisting | | Net Cash Flow from Investing Activities | -269.94 | -584.73 | -53.84% | Due to wealth management of idle funds | | Net Cash Flow from Financing Activities | -52.74 | 40.27 | -230.97% | Payment for acquisition of Ruidian Precision equity | | Taxes and Surcharges | 10.29 | 6.13 | 67.94% | Increase in urban construction tax and education surcharge | By Product or Service | Product/Service | Operating Revenue (million yuan) | Gross Margin | YoY Change in Operating Revenue | YoY Change in Gross Margin | | :--- | :--- | :--- | :--- | :--- | | MIM Components and Assemblies | 607.20 | 17.21% | -17.44% | -3.77% | | End Products | 100.78 | -8.49% | -17.43% | -21.37% | | Transmission, Thermal Components, and Others | 115.82 | 21.26% | 169.96% | -2.86% | | Precision Plastic Components and Assemblies | 143.54 | 36.65% | 151.12% | 12.31% | [Analysis of Assets and Liabilities](index=18&type=section&id=%E4%BA%94%E3%80%81%E8%B5%84%E4%BA%A7%E5%8F%8A%E8%B4%9F%E5%80%BA%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) Total assets remained stable at **3.76 billion yuan**, with significant shifts in cash, inventory, and construction in progress Major Changes in Asset Composition | Item | Amount at End of Period (million yuan) | Change from Prior Year-End | Main Reason for Change | | :--- | :--- | :--- | :--- | | Monetary Funds | 339.43 | -39.18% | Due to purchase of wealth management products and payment for acquisitions | | Inventories | 661.87 | 62.97% | Due to reasonable stock preparation based on order demand | | Construction in Progress | 61.43 | -73.01% | Due to transfer of buildings under construction to fixed assets | [Analysis of Investment Status](index=20&type=section&id=%E5%85%AD%E3%80%81%E6%8A%95%E8%B5%84%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) Total investment reached **227 million yuan**, a **20.55%** increase, primarily driven by the acquisition of Ruidian Precision and wealth management activities - During the reporting period, the company acquired 100% equity of Changzhou Ruidian Precision Technology Co., Ltd. for **221 million yuan** using its own funds, completing the industrial and commercial change registration and gaining control. Ruidian Precision achieved a net profit of **21.31 million yuan** during the reporting period[74](index=74&type=chunk) - The company's 2020 convertible bond raised **562 million yuan** for the "New Consumer Electronics Precision Components Automated Production Project." As of the end of the reporting period, the project investment progress reached **92.17%**, with cumulative benefits of **51.17 million yuan**[81](index=81&type=chunk)[85](index=85&type=chunk) Overview of Entrusted Wealth Management (Unit: million yuan) | Specific Type | Source of Funds | Amount of Entrusted Wealth Management | Unexpired Balance | | :--- | :--- | :--- | :--- | | Bank Wealth Management Products | Own Funds | 1,275.9 | 97.9 | | Bank Wealth Management Products | Raised Funds | 71.0 | 46.0 | | Brokerage Wealth Management Products | Own Funds | 70.0 | 70.0 | | **Total** | | **1,416.9** | **213.9** | [Analysis of Major Holding and Participating Companies](index=25&type=section&id=%E5%85%AB%E3%80%81%E4%B8%BB%E8%A6%81%E6%8E%A7%E8%82%A1%E5%8F%82%E8%82%A1%E5%85%AC%E5%8F%B8%E5%88%86%E6%9E%90) Newly acquired Ruidian Precision contributed **21.31 million yuan** in net profit, while Antixin incurred a **21.52 million yuan** loss due to R&D focus and low-margin projects Operating Performance of Major Subsidiaries (H1 2022) | Company Name | Operating Revenue (million yuan) | Net Profit (million yuan) | | :--- | :--- | :--- | | Changzhou Ruidian Precision Technology Co., Ltd. | 208.59 | 21.31 | | Shenzhen Antixin Technology Co., Ltd. | 100.70 | -21.52 | - Ruidian Precision: Operating revenue and net profit increased year-on-year due to a temporary surge in demand for COVID-19 antigen test kits in China[95](index=95&type=chunk) - Shenzhen Antixin: Uneven order distribution in H1, focus on R&D investment, and some low-gross-margin projects impacted profitability. The company is shifting its operating strategy from "scale-oriented" to "profit-oriented"[95](index=95&type=chunk) [Risks and Countermeasures](index=27&type=section&id=%E5%8D%81%E3%80%81%E5%85%AC%E5%8F%B8%E9%9D%A2%E4%B8%B4%E7%9A%84%E9%A3%8E%E9%99%A9%E5%92%8C%E5%BA%94%E5%AF%B9%E6%8E%AA%E6%96%BD) The company faces risks from economic fluctuations, customer concentration, R&D failures, market competition, goodwill impairment, and declining gross margins - **Macroeconomic and Downstream Industry Volatility Risk**: The company's business is highly correlated with the consumer electronics industry's prosperity, and macroeconomic uncertainties or slowing growth in smartphones may impact performance[96](index=96&type=chunk) - **Customer Concentration Risk**: The company's customers are mainly concentrated in the consumer electronics sector; a decline in major customer procurement or significant price reductions would severely impact performance[97](index=97&type=chunk) - **Goodwill Impairment Risk**: Goodwill was formed from the 2021 acquisition of Antixin, and impairment was recognized that year due to underperformance. Further impairment may occur if future operations continue to deteriorate[100](index=100&type=chunk) - **Gross Margin Decline Risk**: Factors such as downstream industry cost control, intensified market competition, and rising raw material and labor costs may lead to a decrease in the company's product gross margin[101](index=101&type=chunk) [Corporate Governance](index=30&type=section&id=%E7%AC%AC%E5%9B%9B%E8%8A%82%20%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86) This section details the company's governance structure and the implementation of its equity incentive plans [Implementation of Equity Incentive Plans](index=30&type=section&id=%E5%9B%9B%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E6%9D%83%E6%BF%80%E5%8A%B1%E8%AE%A1%E5%88%92%E3%80%81%E5%91%98%E5%B7%A5%E6%8C%81%E8%82%A1%E8%AE%A1%E5%88%92%E6%88%96%E5%85%B6%E4%BB%96%E5%91%98%E5%B7%A5%E6%BF%80%E5%8A%B1%E6%8E%AA%E6%96%BD%E7%9A%84%E5%AE%9E%E6%96%BD%E6%83%85%E5%86%B5) The company repurchased and canceled **19,424** unvested restricted shares from former employees and completed the vesting of the first tranche of 2021 restricted shares - The company repurchased and canceled a total of **19,424** unvested restricted shares from some resigned employees under the 2019 and 2020 incentive plans[110](index=110&type=chunk)[112](index=112&type=chunk) - The conditions for the first vesting period of the initially granted restricted shares under the 2021 incentive plan were met, and the vested shares were listed for trading on July 1, 2022[114](index=114&type=chunk) [Environmental and Social Responsibility](index=33&type=section&id=%E7%AC%AC%E4%BA%94%E8%8A%82%20%E7%8E%AF%E5%A2%83%E5%92%8C%E7%A4%BE%E4%BC%9A%E8%B4%A3%E4%BB%BB) This section outlines the company's commitment to environmental protection and its contributions to social welfare [Environmental Protection](index=33&type=section&id=%E4%B8%80%E3%80%81%E9%87%8D%E5%A4%A7%E7%8E%AF%E4%BF%9D%E9%97%AE%E9%A2%98%E6%83%85%E5%86%B5) The company is not a key polluter and adheres to environmental regulations, with proper treatment of wastewater, exhaust gas, and hazardous waste - The company and its subsidiaries are not classified as key polluting units by environmental protection authorities and received no environmental administrative penalties during the reporting period[119](index=119&type=chunk)[123](index=123&type=chunk) - The company has clear treatment measures for wastewater, exhaust gas, and hazardous waste, and regularly commissions qualified units for testing to ensure compliance with national standards[120](index=120&type=chunk)[121](index=121&type=chunk)[122](index=122&type=chunk) [Social Responsibility](index=34&type=section&id=%E4%BA%8C%E3%80%81%E7%A4%BE%E4%BC%9A%E8%B4%A3%E4%BB%BB%E6%83%85%E5%86%B5) The company actively fulfilled its social responsibilities by supporting local pandemic prevention efforts in H1 2022 - In H1 2022, facing the local pandemic, the company provided a newly built dormitory building (177 rooms) in its new industrial park free of charge as an isolation point for pandemic control, supporting the city's prevention efforts[123](index=123&type=chunk) [Significant Matters](index=35&type=section&id=%E7%AC%AC%E5%85%AD%E8%8A%82%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) This section details major events and transactions that significantly impacted the company during the reporting period [Significant Related Party Transactions](index=44&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%E9%87%8D%E5%A4%A7%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) The most significant related party transaction was the **225 million yuan** acquisition of 100% equity in Changzhou Ruidian Precision Technology Co., Ltd - The company acquired 100% equity of Changzhou Ruidian Precision Technology Co., Ltd. for **225 million yuan**, which constitutes a related party transaction[148](index=148&type=chunk) - The acquisition was completed with industrial and commercial change registration on January 19, 2022, making Ruidian Precision a wholly-owned subsidiary of the company[149](index=149&type=chunk) [Other Significant Matters](index=48&type=section&id=%E5%8D%81%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E9%87%8D%E5%A4%A7%E4%BA%8B%E9%A1%B9%E7%9A%84%E8%AF%B4%E6%98%8E) The company's application for issuing convertible bonds was approved, and it implemented its 2021 profit distribution plan and established a new subsidiary - The company's application to issue convertible corporate bonds to unspecified objects was approved by the Shenzhen Stock Exchange ChiNext Listing Committee on August 11, 2022[158](index=158&type=chunk)[159](index=159&type=chunk) - The company implemented its 2021 annual equity distribution plan, which included a cash dividend of **1.80 yuan** (tax inclusive) per 10 shares and a capital reserve transfer of 2 shares per 10 shares to all shareholders[159](index=159&type=chunk) - The company established a new wholly-owned subsidiary, Jiangsu Jingyan Power System Co., Ltd., on March 1, 2022[160](index=160&type=chunk) [Share Changes and Shareholder Information](index=49&type=section&id=%E7%AC%AC%E4%B8%83%E8%8A%82%20%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E5%8F%8A%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) This section details changes in the company's share capital and provides an overview of its shareholder structure [Share Changes](index=49&type=section&id=%E4%B8%80%E3%80%81%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) The company's total share capital increased from **155.19 million** to **186.62 million** shares due to capital reserve transfers and equity incentive vesting Share Changes | Item | Before This Change (million shares) | Change (Increase/Decrease) (million shares) | After This Change (million shares) | | :--- | :--- | :--- | :--- | | Restricted Shares | 31.80 | 6.36 | 38.16 | | Unrestricted Shares | 123.39 | 25.06 | 148.45 | | **Total Shares** | **155.19** | **31.42** | **186.62** | - The main reasons for the increase in shares were the implementation of the 2021 annual equity distribution (2 shares transferred per 10 shares from capital reserve) and equity incentive vesting[165](index=165&type=chunk)[166](index=166&type=chunk) [Shareholder Numbers and Holdings](index=54&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E4%B8%9C%E6%95%B0%E9%87%8F%E5%8F%8A%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5) As of the reporting period end, the company had **13,354** common shareholders, with controlling shareholders Wang Mingxi and Huang Yichao holding **19.38%** and **4.88%** respectively - The total number of common shareholders at the end of the reporting period was **13,354** households[181](index=181&type=chunk) Top Five Shareholders' Holdings | Shareholder Name | Holding Percentage | Shares Held at End of Period (million shares) | | :--- | :--- | :--- | | Wang Mingxi | 19.38% | 36.16 | | Huang Yichao | 4.88% | 9.11 | | Changzhou Chuangyan Investment Consulting Co., Ltd. | 4.77% | 8.89 | | Wu Junwen | 2.07% | 3.87 | | Shenwan Hongyuan New Economy Mixed Securities Investment Fund | 1.92% | 3.58 | - The company's actual controllers, Wang Mingxi and Huang Yichao, are father and daughter; Huang Yichao holds **59.50%** equity in Changzhou Chuangyan Investment Consulting Co., Ltd., forming a concerted action relationship[182](index=182&type=chunk) [Financial Report](index=60&type=section&id=%E7%AC%AC%E5%8D%81%E8%8A%82%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E5%91%8A) This section presents the company's unaudited financial statements for the first half of 2022, including balance sheet, income statement, and cash flow statement [Financial Statements](index=60&type=section&id=%E4%BA%8C%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) The company's H1 2022 unaudited financial report shows total assets of **3.76 billion yuan**, total liabilities of **1.58 billion yuan**, and net profit of **28.78 million yuan** attributable to the parent company Consolidated Balance Sheet Key Items (2022-06-30) | Item | Amount (billion yuan) | | :--- | :--- | | Total Assets | 3.76 | | Total Liabilities | 1.58 | | Total Equity Attributable to Parent Company Owners | 2.18 | Consolidated Income Statement Key Items (H1 2022) | Item | Amount (million yuan) | | :--- | :--- | | Total Operating Revenue | 1,000.8 | | Total Profit | 9.35 | | Net Profit | 20.15 | | Net Profit Attributable to Parent Company Owners | 28.78 | Consolidated Cash Flow Statement Key Items (H1 2022) | Item | Amount (million yuan) | | :--- | :--- | | Net Cash Flow from Operating Activities | 43.55 | | Net Cash Flow from Investing Activities | -269.94 | | Net Cash Flow from Financing Activities | -52.74 | | Net Increase in Cash and Cash Equivalents | -268.56 | [Significant Accounting Policies and Estimates](index=79&type=section&id=%E4%BA%94%E3%80%81%E9%87%8D%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%94%BF%E7%AD%96%E5%8F%8A%E4%BC%9A%E8%AE%A1%E4%BC%B0%E8%AE%A1) The company's financial statements are prepared on a going concern basis, adhering to accounting standards, with specific policies for financial assets, inventory, and revenue recognition - Financial asset impairment uses the expected credit loss model, measuring loss provisions for notes receivable and accounts receivable based on their entire lifetime expected credit losses[266](index=266&type=chunk)[269](index=269&type=chunk) - Inventory is valued using the weighted average method at month-end upon issuance, and impairment provisions are made at the lower of cost or net realizable value at period-end[277](index=277&type=chunk)[278](index=278&type=chunk) - Revenue recognition follows new revenue standards, recognized when the customer obtains control of the goods: for domestic sales upon customer acceptance and receipt of payment proof; for export sales upon customs declaration and reconciliation with customs system[337](index=337&type=chunk)

Financial Performance - The company's operating revenue for Q1 2022 was ¥438,470,171.76, representing a year-on-year increase of 1.11% compared to ¥433,638,148.21 in Q1 2021[4] - The net profit attributable to shareholders for Q1 2022 was ¥23,486,604.36, up 2.87% from ¥22,830,304.71 in the same period last year[4] - Basic earnings per share decreased by 11.76% to ¥0.15 from ¥0.17 in the previous year[5] - Total operating revenue for Q1 2022 was CNY 438,470,171.76, compared to CNY 433,638,148.21 in the previous period, showing a slight increase[27] - Net profit for Q1 2022 was CNY 18,339,342.33, down from CNY 22,945,482.91 in the previous period, indicating a decrease of approximately 20.5%[29] - The total comprehensive income for the first quarter was CNY 18,493,078.93, compared to CNY 23,547,317.36 in the previous period[30] Cash Flow - The net cash flow from operating activities improved significantly to ¥159,680,606.64, a 738.34% increase from -¥25,014,984.92 in Q1 2021[4] - The net cash flow from operating activities increased significantly to ¥159,680,606.64, a 738.34% increase compared to the previous period[13] - Cash inflow from operating activities totaled CNY 716,242,957.04, up from CNY 513,797,776.78 year-over-year[33] - The net cash flow from investing activities improved to -¥220,161,600.86, a 57.84% reduction in outflow compared to -¥522,167,350.79 in the previous period[13] - The net cash flow from financing activities decreased to -¥76,185,362.90, a decline of 151.98% compared to the previous period's inflow of ¥146,568,157.43[13] - The company reported a decrease in cash flow from other operating activities, with CNY 44,596,719.88 received compared to CNY 8,185,031.41 previously[33] Assets and Liabilities - Total assets at the end of Q1 2022 were ¥3,580,758,690.37, down 4.32% from ¥3,742,241,460.23 at the end of the previous year[5] - The equity attributable to shareholders decreased by 7.72% to ¥2,192,516,165.74 from ¥2,375,855,130.11 at the end of the previous year[5] - Total liabilities increased to CNY 1,382,893,227.62 from CNY 1,346,142,110.75, indicating a rise of approximately 2.7%[25] - The company's cash and cash equivalents decreased to CNY 320,806,915.13 from CNY 160,000,000.00, showing a significant increase in liquidity[24] - Inventory levels rose to CNY 466,617,993.16 from CNY 406,124,597.04, representing an increase of about 14.9%[24] Investments and Acquisitions - The company reported a significant increase in trading financial assets, which rose by 100.50% to ¥320,806,915.13 due to increased purchases of financial products[10] - The company completed the acquisition of 100% equity in Changzhou Ruidian Precision Technology Co., Ltd. on January 19, 2022, enhancing its market position[21] - The company is focused on expanding its market presence through strategic acquisitions and financing initiatives[21] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 12,382[15] - The largest shareholder, Wang Mingxi, holds 19.42% of the shares, totaling 30,134,333 shares[15] - The total number of restricted shares at the end of the reporting period was 31,802,156, with no shares released during the period[20] - The company’s management is subject to a 25% limit on the transfer of their shares during their tenure, ensuring alignment with shareholder interests[20] - The company has a total of 324,079 restricted shares, with 318,814 shares under the stock incentive plan[20] Expenses - The company recorded a 95.52% increase in taxes and surcharges, amounting to ¥5,698,039.35, mainly due to increased urban construction tax and education fees[11] - Research and development expenses for Q1 2022 amounted to CNY 46,046,621.60, compared to CNY 42,801,705.16 in the previous period, reflecting an increase of about 7.3%[27] - The company reported a financial expense of CNY 1,521,222.33, down from CNY 6,118,569.86 in the previous period, reflecting a decrease of about 75.1%[27] Management and Strategy - The company is actively managing idle funds by investing in financial products and acquiring fixed assets[13] - The company plans to issue convertible bonds to unspecified investors, as disclosed on February 17, 2022, to raise additional capital[21] - The company's management team includes individuals with significant locked shares, ensuring their commitment to the company's long-term success[20] Miscellaneous - The impact of exchange rate fluctuations on cash and cash equivalents was -¥1,408,385.28, a 196.42% change compared to the previous period[13] - The company has not reported any preferred shareholders or changes in restricted shares during the reporting period[18] - The company reported a cash balance of ¥446,986,403.99 as of March 31, 2022, compared to ¥558,055,673.97 at the beginning of the year, indicating a decrease in cash reserves[23] - The company did not conduct an audit for the first quarter report[35]

Financial Performance - The company reported a cash dividend of 1.80 RMB per 10 shares (including tax) based on a total of 155,173,793 shares, with no bonus shares issued[6]. - The company's operating revenue for 2021 was CNY 2,404,113,167, representing a 53.70% increase compared to CNY 1,564,126,479 in 2020[19]. - The net profit attributable to shareholders for 2021 was CNY 183,899,702.92, a 29.64% increase from CNY 141,851,354.28 in 2020[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 37.46% to CNY 72,281,589.90 from CNY 115,585,599.10 in 2020[19]. - The net cash flow from operating activities for 2021 was CNY 187,713,609.46, a significant increase of 989.25% compared to a negative cash flow of CNY -21,109,135.91 in 2020[19]. - The total assets at the end of 2021 were CNY 3,581,268,722.70, reflecting a 9.51% increase from CNY 3,270,131,331.85 at the end of 2020[19]. - The net assets attributable to shareholders increased by 36.67% to CNY 2,337,276,613.69 at the end of 2021 from CNY 1,710,166,509.70 at the end of 2020[19]. - The company reported a basic earnings per share of CNY 1.33 for 2021, up 29.13% from CNY 1.24 in 2020[19]. - The company achieved operating revenue of ¥2,404,113,167.09, a year-on-year increase of 53.70%[51]. - The net profit attributable to shareholders reached ¥183,899,702.92, up 29.64% compared to the previous year[51]. Market Trends and Industry Insights - The MIM market is expected to reach CNY 14.14 billion by 2026, driven by the growth of consumer electronics and wearable devices[29]. - In 2022, global foldable smartphone sales are expected to reach approximately 18.3 million units, driven by major brands like Samsung, Huawei, and Xiaomi entering the market[30]. - The global smartwatch shipment volume was about 194 million units in 2020, representing a year-on-year growth of 26%, and is projected to reach 510 million units by 2023, with a compound annual growth rate of 38% over three years[30]. - The MIM industry is experiencing significant changes as large assembly manufacturers and listed companies are increasingly integrating vertically into the MIM sector, enhancing competitive dynamics[31]. - The MIM industry is closely tied to economic growth, with demand for consumer electronics, automotive products, and medical services driving market opportunities[36]. Research and Development - R&D investment amounted to ¥17,583.43 million, reflecting a growth of 17.83% year-on-year[51]. - The company holds 23 invention patents, 143 utility model patents, and 9 design patents as of December 31, 2021, indicating strong R&D capabilities[48]. - The company is focusing on diversifying its MIM product materials, expanding applications to titanium alloys, cobalt-based alloys, tungsten alloys, and other materials to meet market demands for lightweight and diversified products[37]. - The company aims to enhance its technical capabilities in micro-powder injection molding and co-injection molding, which will allow for smaller, more precise MIM products and the combination of different materials[38]. - The company is actively developing high-performance small modulus gears to meet the growing demand in sectors like robotics and micro transmission[79]. - The company is focused on upgrading its MIM production lines to meet customer demands and improve production efficiency, particularly in the fast-evolving consumer electronics sector[125]. Acquisitions and Partnerships - The company completed a 60% acquisition of Antixin, integrating it into the consolidated financial statements, enhancing collaboration in acoustic R&D and Bluetooth technology[53]. - The company established a wholly-owned subsidiary, Suzhou Yiyan Intelligent Technology Co., Ltd., with a registered capital of 5 million RMB on July 28, 2021[73]. - The company acquired 60% of Shenzhen Antixin Technology Co., Ltd. for a total of 180 million RMB, with payments of 30 million RMB and 60 million RMB made on February 8 and March 11, 2021, respectively[72]. - Antixin contributed 380,123,743.27 RMB to the company's consolidated revenue, accounting for 15.81% of the total annual revenue[74]. - The company is expanding its customer base in the consumer electronics and smart home sectors, successfully supplying precision transmission components for various applications[53]. Governance and Management - The company has established a performance evaluation and incentive mechanism for directors and senior management, linking their compensation to the company's performance[139]. - The company maintains independent operations in business, personnel, assets, institutions, and finance, ensuring no reliance on the controlling shareholder[141]. - The company has a complete production system and related facilities, independently owning all necessary assets for its operations[142]. - The company has established a financial department with dedicated accounting personnel, ensuring an independent financial accounting system[142]. - The company held 6 shareholder meetings during the reporting period, ensuring equal rights for all shareholders, especially minority shareholders, in decision-making processes[137]. Risk Management - The management discussion section outlines potential risks in the company's operations and corresponding mitigation strategies[6]. - The company is addressing risks related to macroeconomic fluctuations and market volatility, particularly in the consumer electronics sector, which could impact sales and profitability[126]. - The company recognizes the risks of new product development and process changes, emphasizing the need for increased R&D investment and collaboration with academic institutions to enhance technological capabilities[128]. - The company faces risks of declining gross margins due to factors such as increased competition, fluctuations in raw material and labor costs, and changes in downstream industry profitability[131]. Shareholder Engagement and Profit Distribution - The profit distribution plan for 2021 includes a cash dividend of ¥1.80 per 10 shares, totaling ¥27,931,282.74, and a capital reserve increase of 2 shares for every 10 shares held, resulting in an increase of 31,034,758 shares[186]. - The cash dividend distribution represents 100% of the total distributable profits[184]. - The company has established a clear and complete profit distribution policy, which requires approval from the board of directors and the shareholders' meeting[182]. - The company has implemented a stock incentive plan, with a total of 18,274 restricted stocks to be repurchased and canceled due to the departure of certain incentive targets[188]. - The company has a significant capital expenditure plan, indicating a growth phase while maintaining a minimum cash dividend ratio of 20%[184].

Financial Performance - The company's operating revenue for Q3 2021 was CNY 808,294,939.70, representing a 59.70% increase compared to CNY 506,126,554.63 in the same period last year[4]. - The net profit attributable to shareholders for Q3 2021 was CNY 109,759,087.12, a significant increase of 117.29% from CNY 50,512,829.99 in Q3 2020[4]. - The net profit after deducting non-recurring gains and losses was CNY 100,209,964.31, up 198.06% from CNY 33,620,791.51 in the previous year[4]. - The basic earnings per share for Q3 2021 was CNY 0.80, an increase of 116.22% compared to CNY 0.44 in Q3 2020[5]. - The company's operating revenue for the third quarter reached ¥1,721,735,773.84, a 54.56% increase compared to ¥1,113,931,809.32 in the previous period, primarily due to increased product sales and the consolidation of Shenzhen Antixin Technology Co., Ltd. into the financial statements[12]. - Total operating revenue for Q3 2021 reached CNY 1,721,735,773.84, a significant increase from CNY 1,113,931,809.32 in the same period last year, representing a growth of approximately 54.5%[28]. - Net profit for Q3 2021 was CNY 116,984,452.98, compared to CNY 86,920,609.12 in Q3 2020, indicating a year-over-year increase of about 34.6%[29]. - Operating profit for the quarter was CNY 117,107,662.33, up from CNY 93,298,825.63 in the previous year, reflecting a growth of approximately 25.5%[28]. - The total equity attributable to shareholders of the parent company rose to CNY 1,839,047,372.73, compared to CNY 1,710,166,502.70, an increase of approximately 7.5%[28]. Cash Flow and Assets - The net cash flow from operating activities was negative CNY 69,863,346.31, a decline of 269.45% compared to a positive cash flow of CNY 41,228,802.42 in the previous year[4]. - The company reported a net cash flow from operating activities of -¥69,863,346.31, a significant decline of 269.45% compared to ¥41,228,802.42 in the previous period, attributed to increased purchases and the consolidation of Antixin's cash flow[13]. - The company's net cash flow from investing activities was -¥558,540,479.18, a 764.81% increase in outflows compared to -¥64,584,994.51, due to investments in fixed assets and intangible assets[13]. - Cash inflow from operating activities was CNY 1,577,428,729.69, compared to CNY 1,132,960,044.54 in the previous year, showing a growth of about 39.3%[31]. - The total cash inflow from investment activities was ¥1,530,027,441.75, up from ¥1,243,480,002.00, reflecting a year-over-year increase of approximately 23.1%[33]. - The net cash flow from investment activities was -¥558,540,479.18, worsening from -¥64,584,994.51 in the same period last year[33]. - The cash inflow from financing activities totaled ¥169,575,136.68, compared to ¥63,570,089.84 in the previous year, representing a year-over-year increase of approximately 166.5%[33]. - The cash and cash equivalents at the end of the period were ¥153,644,534.23, compared to ¥121,770,454.32 at the end of the same period last year[33]. Assets and Liabilities - The total assets as of September 30, 2021, were CNY 3,588,858,994.07, reflecting a 9.75% increase from CNY 3,270,131,331.85 at the end of the previous year[5]. - The company's total liabilities increased significantly, with short-term borrowings rising to ¥95,513,866.68, reflecting new borrowings during the reporting period[11]. - The total liabilities increased to CNY 1,726,848,516.85 from CNY 1,559,964,829.15, marking an increase of about 10.7%[28]. - The company's intangible assets increased by 98.51% to ¥166,015,592.45, primarily due to the acquisition of land, software, and the consolidation of Antixin's balance sheet[11]. - The company's goodwill reached ¥139,953,224.65, resulting from the acquisition of 60% equity in Antixin[11]. - Current assets totaled CNY 1,901,202,410.98, down from CNY 2,097,311,155.56 at the end of 2020, indicating a decrease of about 9.4%[24]. - Cash and cash equivalents decreased significantly to CNY 199,707,773.18 from CNY 869,074,093.91, representing a decline of approximately 77%[23]. - Accounts receivable increased to CNY 951,648,279.89, up from CNY 647,012,278.52, marking a rise of about 47%[23]. - Inventory rose to CNY 505,277,111.47, compared to CNY 418,042,426.30 at the end of 2020, reflecting an increase of approximately 20.8%[23]. - Non-current assets amounted to CNY 1,687,656,583.09, up from CNY 1,172,820,176.29, showing a growth of about 43.8%[24]. Shareholder Information - The total number of unrestricted shares held by the top 10 shareholders includes Wang Mingxi with 7,533,583 shares and Changzhou Chuangyan Investment Consulting Co., Ltd. with 7,413,120 shares[16]. - The company reported that the top shareholder, Wang Mingxi, holds 59.50% of the shares in Changzhou Chuangyan Investment Consulting Co., Ltd.[16]. - The company has a total of 22,600,750 restricted shares held by Wang Mingxi, which are locked due to being a director and senior management[19]. - The company has 2,799,600 shares held by Zhuhai Abama Asset Management Co., Ltd. through a private equity fund[16]. - The company has 2,256,000 shares held by Shanghai Jiaken Asset Management Co., Ltd. through a private equity fund[17]. - The company has 2,066,280 shares held by Tian Suan Quantitative (Beijing) Capital Management Co., Ltd. through a private equity fund[16]. - The company has 1,898,068 shares held by Huang Yichao, who is related to the actual controller Wang Mingxi[16]. - The company has a total of 1,336,680 shares held through margin trading accounts by Tian Suan Quantitative (Beijing) Capital Management Co., Ltd.[17]. - The company’s restricted shares include 289,574 shares held by supervisor Shi Jun, which are also locked due to being a director and senior management[19]. - The company’s stock incentive plan includes 74,880 shares held by Wu Junwen, which are subject to a three-year unlocking schedule[19]. Governance and Compliance - The company completed the first unlock period of its 2019 restricted stock incentive plan, with 50% of the granted shares released[21]. - The company announced a downward adjustment of the convertible bond price on October 9, 2021, reflecting strategic financial management[21]. - The company successfully completed board and supervisory committee elections on September 16, 2021, ensuring governance continuity[21]. - The company did not undergo an audit for the third quarter report[34]. - The company implemented new leasing standards starting in 2021, but it did not apply to the current financial statements[34].

Financial Performance - The company reported a significant increase in revenue, achieving a total of 500 million yuan for the first half of 2021, representing a year-on-year growth of 25%[15]. - The company's operating revenue for the current reporting period is ¥913,440,834.14, representing a year-on-year increase of 50.29% compared to ¥607,805,254.69 in the same period last year[21]. - The net profit attributable to shareholders of the listed company decreased by 55.43% to ¥16,226,683.49 from ¥36,407,779.13 in the previous year[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥2,346,866.15, a decline of 107.07% compared to ¥33,214,513.65 in the same period last year[21]. - The net cash flow from operating activities decreased by 28.15% to ¥39,606,328.73 from ¥55,124,521.63 in the previous year[21]. - The company's cash and cash equivalents decreased by 1,133.85% to -¥498,102,253.26, influenced by changes in cash flows from operating, investing, and financing activities[53]. - The gross profit margin for wearable devices was 10.42%, while for smartphones it was 24.50%, reflecting a decrease of 7.02% and 4.16% respectively compared to the previous year[55]. - The company's inventory increased by 30.75% to ¥546,592,938.86, primarily due to the acquisition of Antixin, which added to the inventory levels[58]. - The total liabilities increased significantly due to the consolidation of Antixin's balance sheet, with short-term borrowings amounting to ¥76,056,505.00[58]. Market Expansion and Strategy - The company has set a revenue target of 1 billion yuan for the full year 2021, indicating an optimistic outlook for the second half of the year[15]. - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share by the end of 2022[15]. - A strategic acquisition of a local tech firm is in progress, which is anticipated to increase the company's R&D capabilities by 40%[15]. - The company is positioned to benefit from the growing demand for precision components in various sectors, including consumer electronics and automotive, driven by advancements in technology[30]. - The company plans to deepen its expansion into smart home and other sectors while enhancing its strategic layout in the smart terminal business[35]. - The company is focusing on diversifying its material systems, including the application of titanium alloys and composite ceramics in MIM products[33]. Research and Development - New product development includes the launch of a next-generation MIM technology, expected to enhance production efficiency by 30%[15]. - The company has invested 50 million yuan in new technology research, aiming to innovate and stay competitive in the market[15]. - R&D expenses increased year-on-year due to numerous new projects and materials being developed[38]. - Key R&D projects, including foldable phone hinges and wearable watch cases, are progressing well, with some projects moving towards mass production[40]. - The company is focusing on the development of high-performance titanium and titanium alloy mass production technology, expanding its material system and production capacity[45]. - The company is actively developing high entropy alloys and shape memory alloys, which have promising applications in various industries[48]. Risk Management - The management highlighted potential risks including market volatility and supply chain disruptions, with strategies in place to mitigate these risks[5]. - The company faces risks from macroeconomic fluctuations and market volatility, which could impact performance and demand for electronic products[98]. - The company aims to enhance its R&D capabilities and expand its customer base to mitigate risks associated with customer concentration in the consumer electronics sector[100]. - The MIM industry presents competitive risks due to potential new entrants and technological advancements that could affect market share[101]. - The company reported a significant reliance on overseas revenue, which poses risks due to exchange rate fluctuations affecting profitability[103]. Corporate Governance and Compliance - The board of directors has confirmed that all members attended the meeting to discuss the report, ensuring comprehensive oversight[4]. - The company will not distribute cash dividends or issue bonus shares for this period, focusing on reinvestment for growth[6]. - The company emphasizes a strong organizational culture and talent development as key competitive advantages in the MIM industry[43]. - The company and its subsidiaries strictly comply with environmental laws and regulations, achieving a green enterprise credit rating with no administrative penalties during the reporting period[115]. - The company actively fulfills its social responsibilities, donating to educational causes, including a contribution to the Beijing University of Science and Technology Development Foundation[119]. Shareholder and Equity Management - The company completed the repurchase and cancellation of 18,944 restricted stocks, accounting for 0.016% of the total share capital, due to certain individuals no longer meeting the criteria for incentive objects[110]. - A total of 892,800 stock options were granted under the 2021 stock option and restricted stock incentive plan, with the registration completed on February 4, 2021[112]. - The company will not approve the voluntary resignation of directors or senior management responsible for failing to fulfill commitments[126]. - The company will ensure that any stock reduction price will not be lower than the initial public offering price[125]. - The company has established protocols for handling potential conflicts of interest among its executives[127]. Acquisitions and Investments - The company completed a 60% equity acquisition of Shenzhen Antexin Technology Co., Ltd., enhancing its smart terminal business[39]. - The company reported a net profit of -4,010,560.09 CNY from the acquisition of Shenzhen Antexin Technology Co., which was consolidated into the financial statements as of March 31, 2021[95]. - The total assets of the newly acquired Shenzhen Antexin Technology Co. amounted to 274,100,030.40 CNY, with a net asset value of 75,900,495.21 CNY[95]. - The company is actively involved in the development and sales of electronic products, including Bluetooth headsets and precision electronic products[67]. Financial Management - The total investment amount during the reporting period reached ¥187,899,857.83, a significant increase of 26,662.55% compared to the previous year's investment of ¥702,100.00[66]. - The company reported a total of ¥1,340,000,000.00 in purchases and ¥1,052,000,000.00 in sales of financial assets during the reporting period[62]. - The company has restricted cash amounting to ¥72,738,075.02 due to bank acceptance bill guarantees and litigation-related frozen funds[64]. - The company reported a total of 134 million yuan in entrusted financial management, with 96.5 million yuan from self-owned funds and 31 million yuan from raised funds[87]. - The company has not experienced any overdue amounts or impairment situations related to entrusted financial management during the reporting period[88].

Financial Performance - The company's operating revenue for Q1 2021 was ¥417,580,496.05, representing a 57.25% increase compared to ¥265,548,813.01 in the same period last year[9]. - The net profit attributable to shareholders for Q1 2021 was ¥22,471,542.25, up 37.14% from ¥16,386,333.18 in the previous year[9]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 17.89% to ¥15,313,525.58 from ¥18,650,758.15 year-on-year[9]. - Basic and diluted earnings per share increased by 42.86% to ¥0.20 from ¥0.14 in the previous year[9]. - The company's operating revenue for Q1 2021 was CNY 417.58 million, representing a year-on-year increase of 57.25% due to sustained growth in product sales and expanded business scale[25]. - The net profit attributable to shareholders for the same period was CNY 22.47 million, a year-on-year increase of 37.14%[28]. - Operating profit for Q1 2021 was CNY 18,933,864.40, down 30% from CNY 27,115,624.37 in Q1 2020[68]. - Net profit for Q1 2021 reached CNY 23,307,160.48, slightly up from CNY 23,110,053.99 in Q1 2020[68]. - Total comprehensive income for Q1 2021 was CNY 23,797,265.38, compared to CNY 23,110,053.99 in the same period last year[69]. Cash Flow and Assets - The net cash flow from operating activities was negative at -¥31,262,951.58, a decline of 378.31% compared to ¥11,232,990.02 in the same period last year[9]. - Cash and cash equivalents net decrease was CNY 399.84 million, a 1395.78% increase compared to the previous period, influenced by changes in cash flows from operating, investing, and financing activities[26]. - As of March 31, 2021, the company's cash and cash equivalents decreased to ¥416,959,314.16 from ¥869,074,093.91 at the end of 2020, representing a decline of approximately 52%[54]. - The company's trading financial assets increased significantly to ¥370,000,000.00 from ¥101,145,204.00, marking a growth of approximately 266%[54]. - The total current assets amounted to ¥2,027,761,216.08, down from ¥2,097,311,155.56, indicating a decrease of about 3.31%[54]. - The ending cash and cash equivalents balance was CNY 317,335,792.64, down from CNY 258,547,707.93 in the previous period[72]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 15,884[13]. - The largest shareholder, Wang Mingxi, holds 21.73% of the shares, amounting to 25,111,944 shares[13]. - The company reported a total of 26,826,565 restricted shares at the end of the reporting period[19]. - The major shareholders did not engage in any repurchase transactions during the reporting period[15]. - The company has a total of 10 major shareholders, with significant holdings by private equity funds[15]. Research and Development - Research and development expenses increased to CNY 41.59 million, up 62.66% compared to the previous year, driven by an increase in R&D projects[25]. - The company is committed to increasing R&D investment and improving product quality to address risks related to new product development and process changes[33]. - The company plans to enhance R&D capabilities and expand into new customer segments to mitigate risks associated with customer concentration[33]. Acquisitions and Investments - The company completed a 60% acquisition of Shenzhen Antexin Technology Co., Ltd., which was included in the consolidated financial statements[27]. - The company plans to invest RMB 1.16 billion in real estate located in Changzhou, Jiangsu Province[41]. - The company has completed the acquisition of 60% of Shenzhen Ant Technology Co., Ltd. for RMB 180 million, which has been included in the consolidated financial statements[41]. Risks and Management - The company faces risks from macroeconomic fluctuations and market volatility in downstream industries, which could impact performance[31]. - The company is exposed to exchange rate fluctuation risks, particularly due to a significant portion of revenue being generated from overseas sales[36]. - The company is enhancing its management capabilities to mitigate management risks associated with business diversification and complexity[37]. - The company is closely monitoring national tax policy adjustments to adapt its strategies accordingly[38]. Financial Liabilities - The company's total liabilities increased significantly, with other payables rising by 395.97% to CNY 117.98 million, mainly due to the acquisition of Shenzhen Antexin Technology Co., Ltd.[23]. - Current liabilities amounted to CNY 1,150,189,777.57, compared to CNY 1,063,709,805.71 in the previous year, showing an increase of approximately 8.1%[60]. - The company's total liabilities reached CNY 1,605,101,210.48, up from CNY 1,516,471,856.13, representing a growth of about 5.8%[60].

江苏精研科技股份有限公司 2020 年第三季度报告全文 江苏精研科技股份有限公司 江苏精研科技股份有限公司 2020 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。 2020 年第三季度报告 2020-156 2020 年 10 月 1 公司负责人王明喜、主管会计工作负责人杨剑及会计机构负责人(会计主管 人员)杨剑声明：保证季度报告中财务报表的真实、准确、完整。 2 江苏精研科技股份有限公司 2020 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） | 2,494,407,557.42 | 2,191,997,119.69 | | 13.80% | | 归属于上市公司股东的净资产（元） | 1, ...