证券代码：300793 证券简称：佳禾智能 佳禾智能科技股份有限公司投资者关系活动记录表 编号：2022004 | --- | --- | --- | |-------------------------|------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ ...

证券代码：300793 证券简称：佳禾智能 佳禾智能科技股份有限公司投资者关系活动记录表 编号：2022003 | --- | --- | --- | --- | --- | |--------------------|----------------------------------|-----------|-------|----------------------------------------------------------------| | | | | | | | | □特定对象调研 □分析师会议 | | | | | | □媒体采访 □业绩说明会 | | | | | | □新闻发布会 | □路演活动 | | | | 投资者关系活动类别 | □现场参观 □一对一沟通 | | | | | | □ √ 其他 （投资者交流会） | | | | | | | | | | | | | | | 深圳前海聚龙投资有限责任公司林继斌，方正证券股份有限公司姜肖 | | | | | | 伟，信达澳银基金冯明远，广东冠达菁华私募基金管理有限公司岳鹏、 | | | | | | 朱涛、岳永明、强继军，深圳市明曜投资管理 ...

证券代码：300793 证券简称：佳禾智能 佳禾智能科技股份有限公司投资者关系活动记录表 编号：2022008 | --- | --- | --- | |-------------------------|-------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------| | | | | | | □ √ | 特定对象调研 □分析师会议 | | | | □媒体采访 □业绩说明会 | | 投资者关系活动类别 | □新闻发布会 □路演活动 | | | | | □现场参观 □一对一沟通 | | | □其他 | | | | 资瑞兴投资 邢奕才；中金公司 云投行资本 屈云新；圆石投资 | 吴鹏、陈中雷；展创资本 ...

Financial Performance - Revenue for Q3 2022 was CNY 700,386,781.68, a decrease of 14.84% compared to the same period last year[6] - Net profit attributable to shareholders for Q3 2022 was CNY 80,876,803.91, an increase of 85.41% year-on-year[6] - Net profit excluding non-recurring items for Q3 2022 was CNY 82,848,922.77, up 116.06% from the previous year[6] - Basic earnings per share for Q3 2022 was CNY 0.24, reflecting a 50.00% increase compared to the same period last year[6] - Total operating revenue for Q3 2022 was ¥1,790,957,490.46, a decrease of 14.6% compared to ¥2,097,429,590.28 in Q3 2021[32] - Net profit for Q3 2022 reached ¥154,848,100.79, an increase of 91.1% compared to ¥81,061,634.70 in Q3 2021[35] - Basic and diluted earnings per share both improved to ¥0.46 from ¥0.30 year-over-year[38] Research and Development - R&D expenses for the first nine months of 2022 totaled CNY 99,856,644.08, a 40.25% increase due to new product development[14] - Research and development expenses for Q3 2022 amounted to ¥99,856,644.08, up 40.4% from ¥71,197,624.62 in Q3 2021[35] Assets and Liabilities - Total assets as of September 30, 2022, were CNY 3,409,446,181.42, a decrease of 1.03% from the end of the previous year[6] - Total assets as of Q3 2022 were ¥3,409,446,181.42, slightly down from ¥3,444,930,406.66 in Q3 2021[32] - Total liabilities decreased to ¥987,502,677.93 from ¥1,181,734,066.31, a decline of 16.4%[32] - The company's equity attributable to shareholders increased to ¥2,421,943,503.49, up from ¥2,263,196,340.35, reflecting a growth of 7%[32] Cash Flow - The company's cash flow from operating activities for the first nine months was CNY 90,797,345.54, an increase of 134.18% year-on-year[6] - The company reported a net cash flow from operating activities of ¥90,797,345.54, a significant increase of 134.18% compared to the previous year[18] - The company experienced a drastic decline in cash flow from investing activities, reporting a net outflow of ¥579,400,060.01, which is an increase of 887.10% year-over-year[18] - The net cash flow from investment activities was -¥579,400,060.01, worsening from -¥58,697,035.71 year-over-year[42] - The company's financing activities resulted in a net cash outflow of -¥176,313,677.38, contrasting with a net inflow of ¥246,863,227.03 in the previous period[42] Other Financial Metrics - The weighted average return on equity for the first nine months was 6.62%, an increase of 0.18% compared to the same period last year[6] - The company's total deferred income increased by 49.82% to ¥28,606,007.45, primarily due to an increase in government grants related to assets[17] - The company’s retained earnings rose by 56.19% to ¥430,412,184.12, attributed to an increase in net profit[17] - The cash and cash equivalents at the end of the period amounted to ¥695,290,449.51, reflecting a 55.88% increase from the previous year[18] - The company reported a significant reduction in other current liabilities, down 60.75% to ¥525,835.03, mainly due to the recognition of previously deferred sales tax[17] - The company’s total liabilities related to lease obligations dropped to zero, a 100% decrease, due to the termination of a factory lease contract[17] - The company’s cash and cash equivalents at the beginning of the period were ¥1,343,784,309.34, marking a 161.41% increase year-over-year[18] - The company’s other comprehensive income increased by 43.29% to ¥12,905,703.34, mainly due to an increase in foreign currency translation differences[17] - Cash inflow from investment activities totaled ¥2,077,583,227.12, up from ¥1,052,567,158.12 in the prior year[42] - The company received cash from the recovery of investments amounting to ¥2,069,000,000.00, significantly higher than ¥1,040,000,000.00 in the previous year[42] - The company reported a decrease in cash inflow from operating activities, totaling ¥1,934,160,522.41, down from ¥2,505,277,570.64[42] - The company experienced a foreign exchange impact on cash and cash equivalents amounting to ¥16,422,532.02, compared to ¥9,510,787.43 in the prior year[42]

Financial Performance - The company reported a total revenue of RMB 500 million for the first half of 2022, representing a year-on-year increase of 20%[20] - The net profit attributable to shareholders was RMB 100 million, up 15% compared to the same period last year[20] - The company's operating revenue for the reporting period was ¥1,090,570,708.78, a decrease of 14.46% compared to the same period last year[28] - Net profit attributable to shareholders increased by 97.54% to ¥73,971,296.88, while the net profit after deducting non-recurring gains and losses surged by 599.65% to ¥63,560,744.49[28] - The company's revenue for the first half of 2022 was approximately ¥1.09 billion, a decrease of 14.46% compared to ¥1.27 billion in the same period last year[51] - The company reported a profit margin of 15.54% in the electronics sector, with a year-on-year revenue decrease of 14.46% and a cost decrease of 20.67%[53] Research and Development - The company plans to invest RMB 50 million in R&D for new product development in the next fiscal year[20] - The company’s R&D investment increased by 52.70% to approximately ¥68.94 million, driven by the development of new products[51] - The company is actively implementing a "Five New" R&D strategy focusing on new products, technologies, devices, processes, and systems to lead industry development[44] - The company has established a mature R&D model, focusing on both technological pre-research and product development to shorten product development cycles[39] Market Strategy - The company has outlined a market expansion strategy targeting Southeast Asia, aiming for a 25% increase in market share by 2023[20] - User data indicates a growth of 30% in active users, reaching 1 million by the end of June 2022[20] - The company expects a revenue growth forecast of 15% for the second half of 2022, driven by new product launches[20] Financial Position - The company has maintained a strong cash position with cash and cash equivalents totaling RMB 200 million as of June 30, 2022[20] - The company's cash and cash equivalents decreased by 50.30% to approximately ¥668.89 million, attributed to the use of raised funds for investments[51] - The company's total assets included cash and cash equivalents of ¥668,889,501.13, which accounted for 20.06% of total assets, down from 39.07% in the previous year[58] Risk Management - The management has identified key risks including market competition and supply chain disruptions, with strategies in place to mitigate these risks[20] - The company faces risks from macroeconomic uncertainties, including the ongoing COVID-19 pandemic and international exchange rate fluctuations, which may impact order volumes and profit margins[87] - The company is exposed to intensified market competition, necessitating continuous investment in technology R&D and market expansion to maintain its competitive edge[87] - The company has a high customer concentration risk, with the top five customers accounting for a significant portion of revenue, which could affect performance if orders decrease[88] Corporate Governance - The company has not experienced any changes in its board of directors, supervisors, or senior management during the reporting period[102] - The company is implementing a stock incentive plan initiated in October 2020, which has been approved by the board and shareholders[104][105] - The company has not reported any adverse feedback regarding its stock incentive plan from stakeholders during the public notice period[105] Investment and Capital Management - The company plans to permanently supplement working capital with CNY 53,872.69 million of surplus raised funds[68] - The total investment in the "Intelligent Acoustic Products Production Project" is CNY 3,533.19 million, achieving expected benefits[73] - The company has completed the cancellation of a special account for raised funds, transferring CNY 38.745 million back to its basic account[68] Compliance and Social Responsibility - The company has not faced any administrative penalties for environmental issues during the reporting period and adheres strictly to relevant laws and regulations[113] - The company emphasizes social responsibility, ensuring timely payment to suppliers and compliance with labor laws, while also focusing on employee training and safety[114] Shareholder Relations - The company held a total of three investor communication events during the reporting period, with participation rates of 48.70% and 48.73% for the respective shareholder meetings[95][96] - The company plans not to distribute cash dividends or bonus shares for the half-year period[103]

Financial Performance - The company's revenue for Q1 2022 was ¥452,184,138.89, a decrease of 14.11% compared to ¥526,497,531.87 in the same period last year[4] - Net profit attributable to shareholders was ¥19,472,138.14, a significant increase of 226.77% from a loss of ¥15,359,951.81 in the previous year[4] - Basic earnings per share rose to ¥0.06, compared to a loss of ¥0.06 per share in the same quarter last year, marking a 200% increase[4] - Total operating revenue for the first quarter was CNY 452,184,138.89, a decrease of 14.1% compared to CNY 526,497,531.87 in the previous year[28] - Net profit for the period reached CNY 19,472,138.14, compared to a net loss of CNY 15,379,671.40 in the same period last year[31] - The company reported a comprehensive income total of CNY 19,825,621.37, contrasting with a loss of CNY 12,660,277.15 in the previous year[34] Cash Flow and Liquidity - The net cash flow from operating activities improved to -¥57,257,281.36, a 47.69% reduction in loss compared to -¥109,448,498.17 in Q1 2021[4] - The net cash flow from operating activities was -57,257,281.36 CNY, an improvement from -109,448,498.17 CNY in the previous period, indicating a reduction in cash outflow[38] - The cash flow from operating activities totaled 660,187,858.45 CNY, down from 948,547,610.17 CNY in the previous period, reflecting a decline in operational cash generation[38] - The company experienced a cash outflow of 717,445,139.81 CNY from operating activities, a decrease from 1,057,996,108.34 CNY in the previous period, indicating improved cash management[38] - The cash and cash equivalents at the end of the period totaled 615,014,827.84 CNY, down from 729,960,554.48 CNY in the previous period, showing a decline in liquidity[38] Assets and Liabilities - Total assets decreased by 7.55% to ¥3,184,755,829.94 from ¥3,444,930,406.66 at the end of the previous year[4] - The total current assets amount to RMB 2,357,454,980.59, down from RMB 2,676,741,869.52[22] - The total liabilities decreased to CNY 901,733,868.22 from CNY 1,181,734,066.31, reflecting improved financial health[28] - Short-term borrowings decreased from RMB 381,082,162.98 to RMB 245,631,670.42[22] - Accounts payable decreased from RMB 708,042,577.84 to RMB 551,399,154.51[22] Shareholder Equity - The company's equity attributable to shareholders increased slightly by 0.88% to ¥2,283,021,961.72 from ¥2,263,196,340.35 at the end of the previous year[4] - Owner's equity increased to CNY 2,283,021,961.72 from CNY 2,263,196,340.35, showing a positive trend in shareholder value[28] Income and Expenses - The company reported a significant increase in other income, which rose to ¥6,058,758.95, a 3363.35% increase from ¥174,939.38 in the previous year[10] - Investment income surged to ¥5,088,698.90, an increase of 1088.72% compared to a loss of ¥514,673.32 in Q1 2021[10] - The company experienced a 39.86% reduction in selling expenses, which amounted to ¥3,414,660.12 compared to ¥5,677,440.15 in the same period last year[10] - Total operating costs amounted to CNY 442,723,588.09, down 18.6% from CNY 543,825,172.87 year-on-year[28] - Research and development expenses increased to CNY 21,627,700.99, up from CNY 20,241,257.29 year-on-year, indicating a focus on innovation[28] Investment Activities - The total cash inflow from investment activities was 116,657,721.62 CNY, down from 613,778,921.25 CNY in the previous period, reflecting a significant decrease in investment recovery[38] - The net cash flow from investment activities was -547,504,002.35 CNY, compared to a positive 164,221,023.22 CNY in the previous period, highlighting a substantial cash outflow for investments[38] - The company reported investment income of CNY 5,088,698.90, a significant recovery from a loss of CNY 514,673.32 in the previous year[31] - The company reported a cash inflow of 115,000,000.00 CNY from investment recoveries, significantly lower than 610,000,000.00 CNY in the previous period, indicating reduced investment returns[38]

Financial Performance - The company's operating revenue for 2021 was approximately ¥2.73 billion, representing a 3.03% increase from ¥2.65 billion in 2020[26]. - Net profit attributable to shareholders decreased by 23.07% to approximately ¥52.50 million from ¥68.25 million in 2020[26]. - The net profit after deducting non-recurring gains and losses fell by 78.32% to approximately ¥5.87 million compared to ¥27.07 million in 2020[26]. - The net cash flow from operating activities was negative at approximately -¥191.94 million, a decline of 294.32% from ¥98.77 million in 2020[26]. - Total assets increased by 30.76% to approximately ¥3.44 billion from ¥2.63 billion at the end of 2020[26]. - Net assets attributable to shareholders rose by 85.66% to approximately ¥2.26 billion from ¥1.22 billion at the end of 2020[26]. - Basic and diluted earnings per share decreased by 26.92% to ¥0.19 from ¥0.26 in 2020[26]. - The weighted average return on net assets was 4.00%, down from 5.68% in 2020[26]. - The gross margin for the electronic industry was 9.57%, down 1.90% from the previous year, reflecting increased costs and market challenges[62]. - The company reported a net profit attributable to shareholders of CNY 52,503,700, a decrease of 23.07% compared to the previous year, primarily due to a decline in gross margin and increased management expenses[57]. Revenue Breakdown - Total revenue for the first quarter was ¥526.50 million, second quarter ¥748.47 million, third quarter ¥822.46 million, and fourth quarter ¥636.29 million[29]. - Domestic revenue increased to CNY 1,173,953,326.51, accounting for 42.94% of total revenue, up 10.32% from the previous year[62]. - Headphone products accounted for 87.61% of total sales, while smart wearable products like smartwatches and smart glasses only contributed approximately 1.24%[46]. - Total sales from the top five customers accounted for 83.71% of the annual sales, with the largest customer contributing 31.79%[71]. - The total procurement amount from the top five suppliers was 530,055,056.05 yuan, representing 32.49% of the total annual procurement[71]. Investment and R&D - The company invested in Suzhou Suoer Electronics Technology Co., Ltd. for the development of core components for bone conduction headphones, targeting overseas markets[43]. - The company invested in Ruiouweier (Shanghai) Intelligent Technology Co., Ltd. to develop AR devices, aiming to serve industrial clients like Honeywell and Siemens[43]. - Research and development expenses rose by CNY 12,940,000, focusing on new products such as AR glasses, bone conduction headphones, and smartwatches[57]. - The R&D investment accounted for 4.29% of operating revenue, up from 3.93% in the previous year[79]. - The number of R&D personnel increased by 38.94% to 446 in 2021, with R&D personnel accounting for 6.76% of the total workforce[79]. - The company has established a strong R&D model, dividing efforts into technology pre-research and product development to shorten product development cycles[46]. Cash Flow and Financing - The net cash flow from operating activities was -191,939,019.97 yuan, a decrease of 294.32% compared to the previous year[80]. - The net cash flow from financing activities increased by 810.63% to 1,076,238,565.30 yuan due to funds raised from issuing shares[83]. - The net increase in cash and cash equivalents was 829,739,651.49 yuan, a significant increase of 1,777.01%[83]. - The company completed a private placement raising CNY 999,100,000, enhancing its operational development platform[57]. - The company plans to utilize unspent raised funds for cash management and financial investments[104]. Market and Competitive Landscape - The global spending on smart wearable devices reached $26.74 billion in 2020, with a year-on-year growth of 13.32%[41]. - The smart wearable device market is projected to reach $35.81 billion by 2022, with a compound annual growth rate (CAGR) of 33.91%[41]. - The company faces risks from macroeconomic uncertainties and exchange rate fluctuations, which may impact order volumes and profit margins[5]. - Increased competition in the consumer electronics industry poses a risk, as larger firms leverage technology and scale advantages to capture market share[133]. - The company has a high customer concentration risk, with significant revenue dependence on major clients like Harman and Skullcandy[133]. Corporate Governance and Management - The company emphasizes strict compliance with information disclosure regulations, ensuring fair access to information for all shareholders[145]. - The company maintains independence from its controlling shareholders in terms of assets, personnel, finance, and operations, with a clear and complete asset ownership structure[146]. - The company has established an independent financial department with a standardized financial accounting system, enabling independent financial decision-making[147]. - The management team is committed to driving growth through strategic initiatives and technological advancements[165]. - The company has a diverse board with members holding advanced degrees and significant industry experience, including independent directors with backgrounds in accounting and engineering[160][162]. Future Outlook and Strategy - The company plans to invest more in R&D and market development in the smart wearable sector, targeting new profit growth points through products like smartwatches and smart glasses[130]. - The company aims to focus on technological innovation, management innovation, and institutional innovation to enhance its competitive edge and explore new profit growth points[129]. - The company plans to expand its market presence through strategic partnerships and potential acquisitions in the coming years[180]. - The company is considering strategic acquisitions to enhance its market position, with a budget of 500 million yuan allocated for potential deals[170]. - The company’s future outlook remains positive, with expectations for continued revenue growth driven by innovation and market expansion[180].

佳禾智能科技股份有限公司 2021 年第三季度报告 1 证券代码：300793 证券简称：佳禾智能 公告编号：2021-077 佳禾智能科技股份有限公司 2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、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。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告 中财务信息的真实、准确、完整。 3.第三季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (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 | --- | --- | --- | --- | --- | |------------------------------------------------------|----------------|-------------------------|--------------------------|------- ...

Financial Performance - The company's operating revenue for the first half of 2021 was ¥1,274,966,766.66, representing a 72.28% increase compared to ¥740,052,567.14 in the same period last year[26] - The net profit attributable to shareholders of the listed company was ¥37,446,879.06, a significant increase of 126.00% from ¥16,569,459.98 in the previous year[26] - The basic earnings per share rose to ¥0.14, reflecting a 133.33% increase compared to ¥0.06 in the same period last year[26] - The net cash flow from operating activities was negative at -¥251,541,895.80, worsening by 160.19% from -¥96,677,054.76 in the previous year[26] - Total assets at the end of the reporting period were ¥2,598,172,133.82, a slight decrease of 1.38% from ¥2,634,591,188.07 at the end of the previous year[26] - The net assets attributable to shareholders of the listed company increased by 1.17% to ¥1,233,267,501.73 from ¥1,219,006,562.81 at the end of the previous year[26] - The company reported a total of ¥28,362,276.41 in non-recurring gains and losses during the reporting period[33] - The weighted average return on net assets was 3.03%, an increase of 1.65% compared to 1.38% in the previous year[26] - The company faced a decrease in net profit after deducting non-recurring gains and losses, which was ¥9,084,602.65, down 11.09% from ¥10,218,006.71 in the previous year[26] Revenue Breakdown - Revenue from headphone products reached 1,144.48 million yuan, up 65.96% year-on-year, with TWS headphones contributing 650.75 million yuan, a growth of 40.38%[37] - The company's revenue for the reporting period reached ¥1,274,966,766.66, representing a 72.28% increase compared to ¥740,052,567.14 in the same period last year[47] Research and Development - The company's R&D investment increased by 17.59% to ¥45,148,722.77, up from ¥38,396,600.40, reflecting a commitment to innovation[47] - The company is actively developing new products including bone conduction headphones, smartwatches, and smart glasses, expected to be mass-produced in the second half of 2021[37] - The company is actively investing in R&D for new technologies, with an allocation of 20 million yuan for the development of innovative solutions in the upcoming year[125] Market Trends - The global smartphone user sales volume is projected to reach 1.5 billion units in 2021, a year-on-year increase of 11.4%[40] - The global smart speaker market is expected to grow by 21% in 2021, with shipments reaching 16.3 million units[40] - Spending on wearable devices reached $26.745 billion in 2020, with a projected compound annual growth rate of 33.91% through 2022[40] Operational Efficiency - The company's production base in Jiangxi has gradually commenced operations, supporting cost reduction and efficiency improvement[37] - The inventory increased to ¥667,492,221.16, accounting for 25.69% of total assets, up from 19.47% the previous year, indicating expanded production scale[52] - The company has completed a three-base layout in Dongguan, Vietnam, and Jiangxi, enhancing its production capacity and operational efficiency[43] Financial Management - The cash flow from operating activities showed a net outflow of ¥251,541,895.80, which is a 160.19% increase in outflow compared to the previous year[47] - The financial expenses surged by 490.98% to ¥12,010,824.07, primarily due to foreign exchange rate fluctuations[47] - The net increase in cash and cash equivalents was -¥73,318,729.80, an improvement of 75.48% compared to -¥299,012,725.69 in the previous year[47] Strategic Partnerships and Collaborations - The company has established strategic partnerships with several renowned institutions, including a collaboration with the Chinese Academy of Sciences for developing robust adaptive mixed active noise reduction technology[43] - The company has a strong customer base, having entered the supplier lists of numerous well-known domestic and international enterprises, which supports revenue growth[43] Risk Factors - The company faces risks from the COVID-19 pandemic, which has led to significant fluctuations in overseas markets, potentially impacting overall performance[91] - A large portion of the company's revenue comes from overseas, particularly from the US and Europe, making it vulnerable to exchange rate fluctuations, especially if the RMB appreciates[91] - The company is exposed to risks related to the supply and price volatility of raw materials, which could adversely affect profitability if prices rise significantly[91] - The concentration of sales to the top five customers is high, and any reduction in orders or price cuts from these clients could negatively impact the company's performance[91] Corporate Social Responsibility - The company has maintained a commitment to social responsibility, ensuring timely payment of employee salaries and compliance with labor laws[111] - The company has actively engaged in pandemic prevention measures, ensuring all employees follow government guidelines and receive vaccinations[111] - The company has implemented a comprehensive training program to enhance employee skills, including onboarding and job-specific training[111] Future Outlook - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[125] - Market expansion efforts include entering two new international markets, aiming for a 10% increase in global market share by the end of the next fiscal year[125] - The company has outlined a merger and acquisition strategy, targeting complementary businesses to enhance its product offerings and market presence[125] Transparency and Compliance - The company has committed to transparency in its financial disclosures, ensuring no misleading statements or omissions in its IPO prospectus[129] - The company has established measures to ensure that if the controlling shareholder fails to fulfill commitments, it will be liable for compensation to the company or its investors[171] - The company will correct any unfulfilled commitments within the timeframe required by regulatory authorities, or make timely legal, reasonable, and effective supplementary or alternative commitments[168]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥1,274,966,766.66, representing a 72.28% increase compared to ¥740,052,567.14 in the same period last year[26]. - The net profit attributable to shareholders of the listed company was ¥37,446,879.06, a significant increase of 126.00% from ¥16,569,459.98 in the previous year[26]. - The net profit after deducting non-recurring gains and losses was ¥9,084,602.65, which is a decrease of 11.09% compared to ¥10,218,006.71 in the same period last year[26]. - The basic earnings per share increased to ¥0.14, up 133.33% from ¥0.06 in the previous year[26]. - The total assets at the end of the reporting period were ¥2,598,172,133.82, a slight decrease of 1.38% from ¥2,634,591,188.07 at the end of the previous year[26]. - The net assets attributable to shareholders of the listed company increased to ¥1,233,267,501.73, reflecting a growth of 1.17% from ¥1,219,006,562.81 at the end of the previous year[26]. - The net cash flow from operating activities was negative at -¥251,541,895.80, worsening by 160.19% compared to -¥96,677,054.76 in the same period last year[26]. - The weighted average return on net assets was 3.03%, an increase of 1.65% from 1.38% in the previous year[26]. - The company reported a total of ¥28,362,276.41 in non-recurring gains and losses during the reporting period[33]. Revenue Breakdown - Revenue from headphone products reached 1,144.48 million yuan, up 65.96% year-on-year, with TWS headphones contributing 650.75 million yuan, a growth of 40.38%[37]. - The company's operating revenue for the reporting period reached ¥1,274,966,766.66, representing a year-on-year increase of 72.28% due to market expansion and new business initiatives[47]. - Operating costs amounted to ¥1,161,108,851.76, reflecting an increase of 80.69%, which corresponds to the rise in revenue[47]. Research and Development - Research and development expenses increased by 17.59% to ¥45,148,722.77, indicating the company's commitment to enhancing its R&D capabilities[47]. - The company is actively developing new products including bone conduction headphones, smartwatches, and smart glasses, expected to achieve mass production in the second half of 2021[37]. - The company is investing heavily in R&D, allocating 10% of its revenue to develop new technologies and enhance existing products[181]. Market Trends and Projections - The global smartphone sales volume is projected to reach 1.5 billion units in 2021, a year-on-year increase of 11.4%[40]. - The global smart speaker market is expected to grow by 21% in 2021, with shipments reaching 16.3 million units[40]. - Spending on wearable devices reached $26.745 billion in 2020, with a projected compound annual growth rate of 33.91% by 2022[40]. - The smart glasses market is expected to grow from $4.651 billion in 2019 to $15.788 billion by 2027, with a compound annual growth rate of 17.20%[40]. - The company provided a positive outlook for the second half of 2021, projecting a revenue growth of 20% to 30% based on current market trends and user acquisition strategies[181]. Operational Challenges - The company's gross profit margin declined due to factors such as changes in customer structure, product structure, and fluctuations in the US dollar exchange rate[37]. - The company faces risks from the COVID-19 pandemic, which has led to significant fluctuations in overseas markets, potentially impacting overall performance[88]. - A large portion of the company's revenue comes from overseas, particularly in the US and Europe, making it vulnerable to exchange rate fluctuations, especially if the RMB appreciates[88]. - The company is exposed to risks related to raw material supply and price volatility, which could adversely affect profitability if market prices rise significantly[88]. - The concentration of sales to the top five customers is high, and any reduction in orders or price cuts from these clients could negatively impact the company's performance[88]. Corporate Governance and Compliance - The company has not encountered any violations in the management of raised funds, ensuring compliance with relevant regulations[77]. - The company has established a fair and reasonable compensation system for employees, enhancing their skills through comprehensive training programs[108]. - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of the initial public offering (IPO)[120]. - The company will implement measures to stabilize its stock price if it falls below the audited net asset value per share for 20 consecutive trading days[123]. - The company has made commitments regarding the accuracy and completeness of its IPO prospectus, ensuring no false records or misleading statements[126]. Future Plans and Investments - The company plans to use 15.12 million of the surplus funds from the "R&D Center Construction Project" to permanently supplement working capital[77]. - The company is considering strategic acquisitions to bolster its technology portfolio, with a budget of up to 500 million yuan for potential targets[181]. - Market expansion plans include entering two new international markets by Q4 2021, aiming for a 5% market share in each region within the first year[181]. Social Responsibility and Environmental Compliance - The company has a commitment to social responsibility, ensuring fair labor practices and timely payment of employee salaries and social insurance[108]. - The company strictly adheres to environmental laws and regulations, with pollution control measures in place for waste gas, wastewater, noise, and solid waste[108]. - The company has implemented a recycling system for cooling water and treats domestic wastewater to meet standards before discharge[108].