Dividend and Profit Distribution - The company plans to distribute a cash dividend of 3.50 RMB per 10 shares to all shareholders, based on a total of 184,800,000 shares[4]. - The company has proposed a capital reserve conversion of 5 shares for every 10 shares held by shareholders[4]. - The total distributable profit for the year was RMB 134,188,029.57, with a cash dividend distribution of RMB 64,680,000.00, representing 100% of the profit distribution[105][106]. - The cash dividend payout ratio for 2018 was 53.34% of the net profit attributable to ordinary shareholders[107]. - The company has consistently increased its cash dividend over the past three years, with 2016, 2017, and 2018 cash dividends of RMB 27,720,000.00, RMB 36,960,000.00, and RMB 64,680,000.00 respectively[107]. - The company emphasizes adherence to its profit distribution policy as outlined in its articles of association, ensuring reasonable returns to shareholders[104]. - The company has maintained a clear and complete decision-making process for its cash dividend policy, ensuring independent directors fulfill their responsibilities[104]. - The company’s profit distribution plan aligns with the guidelines from the China Securities Regulatory Commission encouraging stable and reasonable returns for investors[105]. Financial Performance - The company's operating revenue for 2018 was CNY 1,131,402,755.08, representing a year-on-year increase of 7.35% compared to CNY 1,053,920,394.71 in 2017[17]. - The net profit attributable to shareholders for 2018 was CNY 121,257,747.27, a 3.76% increase from CNY 116,863,838.19 in 2017[17]. - The net profit after deducting non-recurring gains and losses decreased by 14.88% to CNY 94,333,100.07 in 2018 from CNY 110,822,621.01 in 2017[17]. - The company's total assets increased by 76.70% to CNY 1,753,133,272.12 at the end of 2018, up from CNY 992,157,591.90 at the end of 2017[17]. - The net assets attributable to shareholders rose by 137.90% to CNY 1,253,512,503.50 at the end of 2018, compared to CNY 526,907,212.25 at the end of 2017[17]. - The company generated a net cash flow from operating activities of CNY 185,309,764.39, an increase of 16.49% from CNY 159,075,084.86 in 2017[17]. - The basic earnings per share for 2018 was CNY 0.67, down 11.84% from CNY 0.76 in 2017[17]. Market and Operational Strategy - The company operates in the printed circuit board (PCB) industry, focusing on various types of PCBs including double-sided, multi-layer, and flexible boards[10]. - The company emphasizes collaboration with major EMS companies to strengthen its market position and service offerings[10]. - The company plans to enhance production capacity for rigid-flex PCBs, expanding its product range to meet diverse customer needs[25]. - The company operates a direct sales model, supported by subsidiaries in Hong Kong, Germany, and the USA, to facilitate overseas order management[26]. - The company achieved operating revenue of RMB 1.131 billion, a year-on-year increase of 7.35%[29]. - The company focused on expanding its product structure and international market presence, with overseas sales accounting for 91.33% of total revenue[53]. - The company is actively pursuing market expansion in emerging sectors such as 5G, automotive electronics, and renewable energy[44]. Research and Development - The R&D center focuses on new product and technology development, ensuring alignment with market demands and enhancing competitive strength[27]. - The company has established a "5G High-Density Interconnect HDI Circuit Board Engineering Technology Research Center" to drive innovation in 5G technology[34]. - The company holds 36 patents in the PCB field, including 3 invention patents and 33 utility model patents[34]. - The company aims to achieve a production yield of over 80% for new high-speed low-loss material products in small batch production[62]. - The company will enhance R&D investment, focusing on direct plating technology, metal substrates, and embedded resistor/capacitor technologies over the next three years[90]. Environmental and Compliance Practices - The company is committed to enhancing its environmental management practices to comply with stricter regulations in the PCB industry[98]. - The company has implemented a comprehensive human resources management system to protect employee rights and promote their development[158]. - The company adheres to environmental protection and sustainable development practices, reducing energy consumption and pollutant emissions[158]. - The company has established a solid waste management system, collaborating with qualified waste treatment vendors for hazardous waste disposal[167]. - The company achieved a total nitrogen oxide emission of 1.7455 tons, adhering to the GB21900-2008 standard of 85 mg/m3[162]. Shareholder and Governance Policies - The company will adhere to regulations regarding share reduction by shareholders and executives, ensuring compliance with relevant laws[110]. - The company will ensure timely and accurate information disclosure in accordance with stock exchange rules[111]. - The company has established a clear timeline for share transfer restrictions based on the timing of employee departures[112]. - The company will maintain transparency and accountability in its shareholding structure and transfer activities[112]. - The company has committed to fulfilling measures to compensate for any dilution of immediate returns, with specific actions to be disclosed at the shareholders' meeting if not adhered to[122]. Legal and Regulatory Compliance - The company faced a penalty of 2.2 million RMB due to discrepancies in customs declarations[131]. - The company has not engaged in any related party transactions during the reporting period[134]. - The company has not undergone any bankruptcy restructuring during the reporting period[129]. - The company has maintained a good integrity status with no significant debts due[132]. - The company will ensure compliance with relevant laws and regulations during the implementation of stock price stabilization measures[119].

Financial Performance - Operating revenue for the current period was CNY 303,861,497.96, an increase of 5.71% year-on-year[9] - Net profit attributable to shareholders for the current period was CNY 52,592,901.76, a significant increase of 54.85% year-on-year[9] - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 45,772,990.91, up 41.14% year-on-year[9] - Basic earnings per share for the current period was CNY 0.28, an increase of 27.27% year-on-year[9] - The company reported a total comprehensive income of CNY 54,637,054.94 for the quarter, compared to CNY 31,459,100.29 in the same period last year, an increase of 73.5%[38] - The company's operating profit for the current period is CNY 28,002,743.27, an increase of 39.7% from CNY 20,037,833.21 in the previous period[42] - Total profit for the current period is $45.64 million, down from $59.70 million in the previous period, indicating a decline of about 23.5%[49] Assets and Liabilities - Total assets increased by 74.51% to CNY 1,731,396,217.19 compared to the end of the previous year[9] - Net assets attributable to shareholders increased by 132.87% to CNY 1,227,022,765.03 compared to the end of the previous year[9] - Total liabilities amounted to CNY 504,373,452.16, an increase from CNY 465,250,379.65, indicating a rise of 8.4%[32] - The company's equity attributable to shareholders reached CNY 1,227,022,765.03, compared to CNY 526,907,212.25, reflecting a growth of 132.8%[32] - Deferred tax liabilities surged by 617.92% to ¥11,486,069.32, primarily due to increased temporary differences from accelerated depreciation of fixed assets[18] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 141,646,713.59, an increase of 11.46% year-on-year[9] - Net cash flow from investing activities worsened by 1140.34% to -¥661,527,240.54, primarily due to the purchase and redemption of financial products[22] - Net cash flow from financing activities improved significantly to ¥596,840,413.13, driven by funds raised from the initial public offering[22] - Cash flow from operating activities is $141.65 million, an increase from $127.08 million in the previous period, showing a growth of about 11.5%[50] - Cash flow from investment activities shows a net outflow of $661.53 million, worsening from a net outflow of $53.33 million in the previous period[52] - Cash flow from financing activities results in a net inflow of $596.84 million, compared to a net outflow of $33.12 million in the previous period[52] Shareholder Information - The company reported a total of 21,357 common shareholders at the end of the reporting period[13] - The top shareholder, Shenzhen Runxi Investment Management Co., Ltd., holds 59.95% of the shares, totaling 110,779,200 shares[13] Investment and Expenses - Research and development expenses for the quarter were CNY 13,164,482.79, compared to CNY 11,582,624.88 in the previous year, an increase of 13.7%[36] - Research and development expenses amount to $20.82 million, compared to $23.50 million in the previous period, indicating a reduction of approximately 11.5%[48] - The total operating costs for the current period are CNY 772,187,554.27, an increase from CNY 687,879,157.53 in the previous period[44] Cash and Equivalents - Cash and cash equivalents increased by 321.02% to ¥754,919,741.44, primarily due to the receipt of funds from the initial public offering and increased customer payments[18] - The ending cash and cash equivalents balance increased to ¥200,799,825.59 from ¥139,424,778.25 at the beginning of the period[53] - The company’s cash and cash equivalents increased by ¥4,299,773.55 during the period, compared to an increase of ¥14,850,764.37 in the previous period[55]

Financial Performance - Total revenue for the reporting period was ¥553,889,888.29, an increase of 9.50% compared to ¥505,817,975.50 in the same period last year[19]. - Net profit attributable to shareholders decreased by 28.06% to ¥42,573,771.07 from ¥59,180,071.55 year-on-year[19]. - Net profit after deducting non-recurring gains and losses fell by 45.34% to ¥30,671,589.00 from ¥56,108,960.26 in the previous year[19]. - The net cash flow from operating activities was ¥59,694,263.64, down 8.93% from ¥65,550,384.68 year-on-year[19]. - Basic and diluted earnings per share decreased by 36.84% to ¥0.24 from ¥0.38 in the same period last year[19]. - The weighted average return on equity dropped to 3.96%, a decrease of 8.60% compared to 12.56% in the previous year[19]. - Total assets increased by 65.26% to ¥1,639,617,963.97 from ¥992,157,591.90 at the end of the previous year[19]. - Operating costs increased by 20.93% to ¥414,094,113.74, while sales expenses rose by 21.69% to ¥36,362,127.25[50]. - The company reported a decrease in short-term borrowings to ¥14,543,957.61 from ¥76,593,865.13, a reduction of 81.0%[151]. - The company recorded a cash inflow from operating activities of CNY 523,309,734.94, compared to CNY 468,526,071.09 in the previous year[166]. Corporate Governance - The company emphasizes the importance of accurate and complete financial reporting, with key personnel affirming the report's integrity[3]. - All board members attended the meeting to review the report, ensuring collective responsibility for its content[4]. - The report indicates that the company is committed to transparency in its financial disclosures and corporate governance[17]. - The company has not encountered any issues in the use and disclosure of raised funds[67]. - The company did not implement any stock incentive plans or employee shareholding plans during the reporting period[89]. Risk Management - The company has outlined potential risks and corresponding countermeasures in its operational analysis section[4]. - The company faces risks from macroeconomic fluctuations, with a strategy to diversify its customer base to mitigate these risks[76]. - Raw material costs account for over 60% of the company's operating costs, with measures in place to manage price fluctuations[77]. - The ongoing US-China trade tensions may impact the company's export sales, prompting a focus on domestic and other regional markets[80]. Environmental Compliance - Shenzhen Mingyang Circuit Technology Co., Ltd. is classified as a key pollutant discharge unit by environmental protection authorities[107]. - The company has achieved compliance with environmental discharge standards across various pollutants[107]. - The wastewater treatment facility has a designed capacity of 1,000 tons/day, with an actual discharge of 636 tons/day[111]. - The company has implemented an online monitoring system for wastewater discharge, which is connected to the Shenzhen Environmental Monitoring Center[111]. - The company has established a comprehensive waste gas treatment system to ensure compliance with environmental regulations[112]. Subsidiaries and Market Presence - The company has subsidiaries in various regions, including Germany and the USA, enhancing its global presence[10]. - The company has established two overseas sales subsidiaries in the USA and Germany to enhance local service capabilities[38]. - The subsidiary Jiujiang Mingyang achieved operating revenue of RMB 218.42 million and a net profit of RMB 15.09 million during the reporting period[74]. - The subsidiary Mingyang Electronics (Hong Kong) generated operating revenue of RMB 460.15 million in the reporting period[75]. Investment and Capital Structure - The total amount of raised funds is RMB 686.84 million, with a net amount of RMB 639.11 million after deducting underwriting and other fees[63]. - The company plans to increase its registered capital in Jiujiang Mingyang from RMB 12 million to RMB 32 million, using RMB 200 million of raised funds[74]. - The company completed its initial public offering of 30.8 million shares at a price of RMB 22.30 per share on February 1, 2018, increasing its total share capital from 92.4 million to 123.2 million shares[126]. - The company has not issued any bonds that are due and unpaid as of the reporting date[145]. Research and Development - The company holds 34 patents, including 3 invention patents and 31 utility model patents, showcasing its R&D capabilities[34]. - The company is focused on developing new technologies and products to expand its market reach[18]. - The company has developed advanced technologies, including 5-layer HDI boards and high-frequency low-loss boards, to meet complex manufacturing requirements[46]. - R&D investment decreased by 10.40% to ¥21,679,500.78, reflecting a strategic focus on optimizing management expenses[50]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 29,641[134]. - Shenzhen Runxi Investment Management Co., Ltd. holds 59.95% of shares, increasing by 36,926,400 shares during the reporting period[134]. - The top 10 shareholders include Shenzhen Shengjian Management Consulting Partnership with 5.10% and Shenzhen Shengying Gao Co., Ltd. with 4.69%[134]. - The company did not experience any changes in its controlling shareholder or actual controller during the reporting period[136].

深圳明阳电路科技股份有限公司 2018 年第一季度报告全文 深圳明阳电路科技股份有限公司 2018 年第一季度报告 二〇一八年四月 1 深圳明阳电路科技股份有限公司 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。 公司负责人张佩珂、主管会计工作负责人王玩玲及会计机构负责人(会计主 管人员)徐智丰声明：保证季度报告中财务报表的真实、准确、完整。 2 深圳明阳电路科技股份有限公司 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） | 253,100,558.87 | 220,193,902.00 | 14.94% | | 归属于上市公司股东的净利润（元） | 10,553,491.51 | 24 ...

Financial Performance - The company's operating revenue for 2017 was ¥1,053,920,394.71, representing a 29.14% increase compared to ¥816,110,902.03 in 2016[16]. - The net profit attributable to shareholders decreased by 5.09% to ¥116,863,838.19 in 2017 from ¥123,134,163.37 in 2016[16]. - The net cash flow from operating activities increased by 22.94% to ¥159,075,084.86 in 2017, up from ¥129,392,266.38 in 2016[16]. - The total assets at the end of 2017 were ¥992,157,591.90, a 22.31% increase from ¥811,187,861.36 at the end of 2016[16]. - The company's basic earnings per share decreased by 10.64% to ¥1.26 in 2017 from ¥1.41 in 2016[16]. - The weighted average return on equity was 24.22% in 2017, down from 33.10% in 2016, indicating a decline of 8.88%[16]. - The company reported a total of ¥220,193,902.00 in revenue for Q1 2017, with a net profit of ¥24,466,761.34 for the same quarter[18]. - The company's total net assets increased by 19.04% to ¥526,907,212.25 at the end of 2017 from ¥442,642,466.78 at the end of 2016[16]. - The company's operating revenue reached RMB 1,053.92 million, a year-on-year increase of 29.14%[29]. - Net profit for the period was RMB 116.86 million, a decrease of 5.09% compared to the previous year[29]. Market Presence and Expansion - The company operates multiple subsidiaries, including those in Germany and the USA, enhancing its global presence in the PCB industry[9]. - The report indicates that the company is focused on expanding its market reach and developing new technologies in the PCB sector[11]. - The company has established a sales system with subsidiaries in Hong Kong, Germany, and the United States to support overseas orders and customer service[27]. - The company reported a significant increase in revenue from its subsidiaries, with Jiujang Mingyang achieving ¥377.78 million in revenue and Mingyang Electronics (Hong Kong) generating ¥887.69 million[78]. - The company aims to expand its market presence by increasing the sales proportion of high-tech products and targeting emerging fields such as medical electronics and automotive electronics[80]. - The company plans to launch three new products in the next quarter, expected to contribute an additional 15% to overall revenue[192]. - Future outlook indicates a projected revenue growth of 20% for the next fiscal year, driven by new product launches and market expansion strategies[192]. Research and Development - The company has established a comprehensive R&D system with multiple specialized teams, enhancing its market competitiveness[32]. - The company holds 24 patents in the PCB field, including 2 invention patents and 22 utility model patents[33]. - The company applied for a total of 21 patents in 2017, including 10 invention patents, enhancing its technological capabilities[45]. - Research and development (R&D) expenses amounted to CNY 45,102,689.58 in 2017, accounting for 4.28% of operating revenue[65]. - The number of R&D personnel increased to 238 in 2017, making up 10.87% of the total workforce[65]. - The company plans to enhance its R&D capabilities by focusing on direct plating processes, metal substrates, and embedded resistor and capacitor technologies over the next three years[82]. - The company has initiated the development of new technologies, including high-speed low-loss material processing and advanced coating techniques[64]. Environmental Commitment - The company has a commitment to environmental standards, adhering to regulations such as RoHS for its products[10]. - The company is committed to environmental protection and sustainable development, integrating energy-saving and pollution reduction into its operational agenda[150]. - The company has established a comprehensive environmental management system to ensure compliance with international environmental standards[150]. - The company reported zero excess emissions for key pollutants such as Chemical Oxygen Demand (19.755 tons) and Ammonia Nitrogen (3.39 tons) in its wastewater management[152]. - The company has installed an online monitoring system for wastewater discharge, including parameters such as flow rate, pH, total copper, and ammonia nitrogen[157]. - The company’s wastewater is treated through chemical precipitation and biological processes before being discharged into the Yangtze River[156]. - The company has implemented a solid waste management plan in compliance with national regulations, with hazardous waste transferred to qualified recycling units[157]. Corporate Governance and Shareholder Relations - The company emphasizes the importance of investor relations and governance structure improvements as part of its management strategy[86]. - The company has committed to not transferring or entrusting the management of its shares for 36 months post-IPO[103]. - The company will adhere to relevant regulations regarding share transfers, including public announcements and compliance with trading rules[104]. - The company will maintain transparency and fulfill information disclosure obligations regarding share transfers[104]. - The company has established a sound corporate governance structure in compliance with relevant laws and regulations[200]. - The company held four shareholder meetings during the reporting period, ensuring equal rights for all shareholders[200]. - The company will ensure that any adjustments to the profit distribution policy are well-justified and communicated to shareholders[117]. Financial Management and Profit Distribution - The company plans to distribute a cash dividend of RMB 3.00 per 10 shares (including tax) and to increase capital by 5 shares for every 10 shares held, based on a total of 123,200,000 shares[4]. - The cash dividend proposed is RMB 3.00 per 10 shares, totaling RMB 36,960,000.00, which represents 100% of the profit distribution[96][100]. - The company emphasizes a stable and sustainable profit distribution policy, aiming for a cash dividend of no less than 10% of the distributable profit in profitable years[116]. - The company has committed to a cash dividend policy, distributing no less than 20% of the distributable profits in any given year, provided there are no major investment plans or cash expenditures[118]. - The board will propose mid-term profit distribution plans based on the company's cash flow and expected cash expenditures[116]. Operational Efficiency and Cost Management - The company implemented lean production practices to improve operational efficiency and reduce internal waste[48]. - The management emphasizes the importance of innovation and technology development in driving future growth[180]. - The company aims to maintain its growth trajectory and improve operational efficiency in the coming years[180]. - The management team emphasizes a focus on improving operational efficiency, targeting a 10% reduction in production costs over the next year[192]. Human Resources and Employee Welfare - The company has established a human resources management system that complies with legal requirements to protect employee rights[149]. - The company adheres to national labor laws and provides five insurances and one fund for employees[196]. - The company emphasizes talent development by actively recruiting and training university graduates, offering both internal and external training opportunities[150]. - The total number of employees in the company is 2,189, with 1,200 in the parent company and 989 in major subsidiaries[194]. - The professional composition includes 1,384 production personnel, 576 technical personnel, and 53 sales personnel[195]. Legal Compliance and Risk Management - The company emphasizes compliance with laws and regulations, ensuring the protection of shareholder rights and interests[148]. - The company has no significant litigation or arbitration matters during the reporting period[127]. - The company has not experienced any penalties or rectification situations during the reporting period[128]. - The company has maintained a good integrity status without any unfulfilled court judgments or significant overdue debts during the reporting period[129].