[Section I Important Notice](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) The Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report, with no false records, misleading statements, or major omissions, and assume legal responsibility[4](index=4&type=chunk) - Company's responsible person Yang Yong, chief accountant Wang Jianxun, and head of accounting department Wu Haixin declare and guarantee the truthfulness, accuracy, and completeness of the financial statements[5](index=5&type=chunk) [Section II Company Profile](index=3&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) This section provides an overview of the company's key financial data, shareholder information, and changes in restricted shares [I. Key Accounting Data and Financial Indicators](index=3&type=section&id=%E4%B8%80%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) This section outlines key financial data and indicators, including assets, liabilities, operating performance, cash flow, and non-recurring gains and losses Key Accounting Data and Financial Indicators (Consolidated Statement) | Indicator | End of Current Reporting Period (CNY) | End of Previous Year (CNY) | Change from Previous Year-End (%) | Current Reporting Period (CNY) | Change from Prior Year Same Period (%) | Year-to-Date (CNY) | Change from Prior Year Same Period (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Balance Sheet:** | | | | | | | | | Total Assets | 1,134,764,044.14 | 1,114,263,768.74 | 1.84% | | | | | | Net Assets Attributable to Shareholders of Listed Company | 1,006,773,921.33 | 944,612,481.67 | 6.58% | | | | | | **Income Statement:** | | | | | | | | | Operating Revenue | | | | 110,910,764.35 | 30.31% | 343,602,039.16 | 13.73% | | Net Profit Attributable to Shareholders of Listed Company | | | | 26,150,731.52 | 55.75% | 68,338,405.84 | 3.61% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Gains and Losses) | | | | 21,636,010.58 | 27.39% | 58,748,849.59 | -10.07% | | **Cash Flow Statement:** | | | | | | | | | Net Cash Flow from Operating Activities | | | | 51,616,703.41 | 36.69% | 26,156,422.57 | -68.62% | | **Earnings Per Share and Return Rate:** | | | | | | | | | Basic Earnings Per Share (CNY/share) | | | | 0.16 | -27.27% | 0.43 | -51.14% | | Diluted Earnings Per Share (CNY/share) | | | | 0.16 | -27.27% | 0.43 | -51.14% | | Weighted Average Return on Net Assets | | | | 2.64% | -1.36% | 6.91% | -8.41% | Non-recurring Gains and Losses (Year-to-Date) | Item | Amount (CNY) | Explanation | | :--- | :--- | :--- | | Non-current asset disposal gains and losses | -85,615.11 | | | Government grants recognized in current profit or loss | 4,100,109.40 | | | Fair value change gains and losses and investment income | 7,219,438.01 | | | Other non-operating income and expenses | 44,765.22 | | | Less: Income tax impact | 1,661,359.41 | | | Impact of minority interests (after tax) | 27,781.86 | | | **Total** | **9,589,556.25** | **--** | [II. Total Number of Shareholders and Top Ten Shareholders at the End of the Reporting Period](index=4&type=section&id=%E4%BA%8C%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E8%82%A1%E4%B8%9C%E6%80%BB%E6%95%B0%E5%8F%8A%E5%89%8D%E5%8D%81%E5%90%8D%E8%82%A1%E4%B8%9C%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%E8%A1%A8) This section details the total number of shareholders and the shareholding of the top ten common shareholders, including related party relationships - Total number of common shareholders at the end of the reporting period was **11,444**, with no preferred shareholders whose voting rights have been restored[12](index=12&type=chunk) Top 10 Shareholders' Shareholding | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares Held (shares) | Number of Restricted Shares Held (shares) | | :--- | :--- | :--- | :--- | :--- | | Yang Yong | Domestic Natural Person | 24.13% | 39,193,200 | 39,193,200 | | Jiaxing Linghui Venture Capital Management Co., Ltd. - Suzhou Yuanya Venture Capital Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Person | 7.55% | 12,258,720 | 12,258,720 | | Shanghai Juzi Investment Management Co., Ltd. | Domestic Non-State-Owned Legal Person | 7.05% | 11,460,000 | 11,460,000 | | Wang Jianxun | Domestic Natural Person | 6.03% | 9,798,360 | 9,798,360 | | Lei Baojia | Domestic Natural Person | 6.03% | 9,798,360 | 9,798,360 | | Xu Chenming | Domestic Natural Person | 6.03% | 9,798,360 | 9,798,360 | | He Li | Domestic Natural Person | 4.22% | 6,858,840 | 6,858,840 | | Zhu Ze | Domestic Natural Person | 3.28% | 5,330,334 | 0 | | Suzhou Kaifeng Wansheng Venture Capital Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Person | 3.17% | 5,157,000 | 5,157,000 | | Xu Jianhong | Domestic Natural Person | 3.02% | 4,899,120 | 4,899,120 | - Company's actual controller Yang Yong controls Shanghai Juzi Investment Management Co., Ltd.; Xu Jianhong is Wang Jianxun's brother-in-law; Xu Chenming and He Li are a married couple[13](index=13&type=chunk) [3. Changes in Restricted Shares](index=6&type=section&id=3%E3%80%81%E9%99%90%E5%94%AE%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) Restricted shares primarily increased due to asset acquisition, with specific shareholders adding new restricted shares Changes in Restricted Shares | Shareholder Name | Restricted Shares at Beginning of Period (shares) | Shares Unrestricted in Current Period (shares) | Shares Added in Current Period (shares) | Restricted Shares at End of Period (shares) | Reason for Restriction | Proposed Unrestriction Date | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Cui Qin | 0 | 0 | 1,226,241 | 1,226,241 | Issuance of shares for asset acquisition | 2021 年 7 月 6 日 | | Zhang Han | 0 | 0 | 1,226,241 | 1,226,241 | Issuance of shares for asset acquisition | 2021 年 7 月 6 日 | | **Total** | **0** | **0** | **2,452,482** | **2,452,482** | **--** | **--** | [Section III Significant Matters](index=7&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) This section details significant changes in key financial data, progress of major events, and other important matters [I. Significant Changes in Key Financial Data and Indicators and Their Reasons During the Reporting Period](index=7&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87%E5%8F%91%E7%94%9F%E9%87%8D%E5%A4%A7%E5%8F%98%E5%8A%A8%E7%9A%84%E6%83%85%E5%86%B5%E5%8F%8A%E5%8E%9F%E5%9B%A0) This section explains significant changes in consolidated financial statements, reflecting key operational, investment, and financing activities Significant Changes in Consolidated Balance Sheet Items | Item | End of Current Reporting Period (CNY) | End of Previous Year (CNY) | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Notes Receivable | 40,092,314.21 | 17,316,208.67 | 131.53% | Increased customer bill collections and pledged bills | | Receivables Financing | 25,850,727.66 | 3,951,136.27 | 554.26% | Increased customer bill collections | | Other Current Assets | 6,410,424.69 | 10,658,986.62 | -39.86% | Received income tax refund | | Long-term Equity Investment | 8,133,343.32 | 0.00 | 100.00% | Investment in Chengdu Lechuang Automation Technology Co., Ltd. changed from cost method to equity method | | Other Non-current Financial Assets | 20,000,000.00 | 7,650,000.00 | 161.44% | New investment projects | | Short-term Borrowings | 6,810,100.00 | 27,745,025.00 | -75.45% | Repaid previous loans and borrowed new loans | | Financial Liabilities at Fair Value Through Profit or Loss | 120,802.27 | 81,817.01 | 47.65% | Forward exchange settlement fair value change recognized at period-end | | Notes Payable | 37,170,360.94 | 24,624,917.04 | 50.95% | Increased use of bills for payments | | Advances from Customers | 0.00 | 4,029,930.51 | -100.00% | Implementation of new revenue standard | | Contract Liabilities | 12,779,044.47 | 0.00 | 100.00% | Implementation of new revenue standard | | Employee Benefits Payable | 7,990,684.81 | 16,388,977.51 | -51.24% | Paid previous year-end bonus | | Taxes Payable | 8,619,011.95 | 1,063,603.63 | 710.36% | Increased income tax payable | | Other Payables | 2,555,015.43 | 5,539,962.51 | -53.88% | Paid previous year's payables | | Provisions | 966,209.51 | 651,202.62 | 48.37% | Increased provision for quality assurance | | Share Capital | 162,452,482.00 | 100,000,000.00 | 62.45% | Capital reserve capitalization and share issuance for asset acquisition | | Minority Interests | 2,981,116.41 | 37,551,030.78 | -92.06% | Acquisition of 25% equity in Suzhou Juzi Electronic Technology Co., Ltd. | Significant Changes in Consolidated Income Statement Items (Year-to-Date) | Item | Year-to-Date (CNY) | Prior Year Same Period (CNY) | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | R&D Expenses | 21,862,566.98 | 16,548,966.51 | 32.11% | Increased investment in R&D projects | | Financial Expenses | 798,649.65 | -5,895,649.79 | 113.55% | Exchange rate loss | | Investment Income | 7,340,240.28 | 191,266.00 | 3737.71% | Increased income from wealth management products | | Fair Value Change Gains | -120,802.27 | -503,621.50 | 76.01% | Forward exchange settlement fair value change recognized at period-end | | Credit Impairment Losses | -1,006,168.68 | -2,880,628.02 | 65.07% | Recovered overdue payments, reduced bad debt provision | | Asset Disposal Gains | -85,615.11 | 0.00 | -100.00% | Loss on disposal of fixed assets | | Non-operating Income | 46,546.88 | 205,132.33 | -77.31% | Decreased unexpired housing deposits collected | | Non-operating Expenses | 1,781.73 | 15,433.54 | -88.46% | Decreased loss on disposal of non-current assets | Significant Changes in Consolidated Cash Flow Statement Items (Year-to-Date) | Item | Year-to-Date (CNY) | Prior Year Same Period (CNY) | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 26,156,422.57 | 83,364,474.80 | -68.62% | Increased unexpired receivables | | Net Cash Flow from Investing Activities | -23,939,484.91 | -57,581,056.54 | 58.42% | Increased purchases of structured deposits, increased cash received from investment income | | Effect of Exchange Rate Changes on Cash and Cash Equivalents | -2,199,197.76 | 4,344,524.08 | -150.62% | Exchange rate fluctuation | [II. Analysis and Explanation of Progress, Impact, and Solutions for Significant Matters](index=8&type=section&id=%E4%BA%8C%E3%80%81%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9%E8%BF%9B%E5%B1%95%E6%83%85%E5%86%B5%E5%8F%8A%E5%85%B6%E5%BD%B1%E5%93%8D%E5%92%8C%E8%A7%A3%E5%86%B3%E6%96%B9%E6%A1%88%E7%9A%84%E5%88%86%E6%9E%90%E8%AF%B4%E6%98%8E) This section details major events, including a subsidiary acquisition through share issuance and cash, and related capital and articles of association changes - The company acquired a **25% stake** in Suzhou Juzi Electronic Technology Co., Ltd. from Cui Qin and Zhang Han through share issuance and cash payment, making Suzhou Juzi a wholly-owned subsidiary[20](index=20&type=chunk) - The share issuance for asset acquisition was listed on the Shenzhen Stock Exchange on July 6, 2020, involving the issuance of **2,452,482 shares**[21](index=21&type=chunk)[22](index=22&type=chunk) - The company's total share capital increased from **100,000,000 shares** to **160,000,000 shares**, then further increased by **2,452,482 shares** due to asset acquisition, resulting in a final total share capital of **162,452,482 shares**, with a corresponding change in registered capital[22](index=22&type=chunk)[23](index=23&type=chunk) - The company has completed the industrial and commercial registration application for the change in registered capital and amendment of the Articles of Association[24](index=24&type=chunk) [Other Significant Matters](index=10&type=section&id=%E5%85%B6%E4%BB%96%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) This section covers commitment fulfillment, performance forecasts, cash dividends, external guarantees, fund occupation, and investor relations activities [III. Commitments](index=10&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E3%80%81%E8%82%A1%E4%B8%9C%E3%80%81%E5%85%B3%E8%81%94%E6%96%B9%E3%80%81%E6%94%B6%E8%B4%AD%E4%BA%BA%E4%BB%A5%E5%8F%8A%E5%85%AC%E5%8F%B8%E7%AD%89%E6%89%BF%E8%AF%BA%E7%9B%B8%E5%85%B3%E6%96%B9%E5%9C%A8%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E8%B6%85%E6%9C%9F%E6%9C%AA%E5%B1%A5%E8%A1%8C%E5%AE%8C%E6%AF%95%E7%9A%84%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9) During the reporting period, there were no overdue unfulfilled commitments by the company or its related parties - The company had no overdue unfulfilled commitments during the reporting period[26](index=26&type=chunk) [IV. Forecast of 2020 Annual Operating Performance](index=10&type=section&id=%E5%9B%9B%E3%80%81%E5%AF%B9%202020%20%E5%B9%B4%E5%BA%A6%E7%BB%8F%E8%90%A5%E4%B8%9A%E7%BB%A9%E7%9A%84%E9%A2%84%E8%AE%A1) The company did not disclose a forecast for its 2020 annual operating performance, as this item is not applicable - Not applicable for 2020 annual operating performance forecast[27](index=27&type=chunk) [V. Implementation of Cash Dividend Policy](index=10&type=section&id=%E4%BA%94%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E7%8E%B0%E9%87%91%E5%88%86%E7%BA%A2%E6%94%BF%E7%AD%96%E7%9A%84%E6%89%A7%E8%A1%8C%E6%83%85%E5%86%B5) During the reporting period, the company did not disclose the implementation of its cash dividend policy - The company had no cash dividend policy implementation during the reporting period[27](index=27&type=chunk) [VI. Irregular External Guarantees](index=10&type=section&id=%E5%85%AD%E3%80%81%E8%BF%9D%E8%A7%84%E5%AF%B9%E5%A4%96%E6%8B%85%E4%BF%9D%E6%83%85%E5%86%B5) During the reporting period, the company had no irregular external guarantees - The company had no irregular external guarantees during the reporting period[27](index=27&type=chunk) [VII. Non-Operating Fund Occupation by Controlling Shareholder and Its Related Parties](index=10&type=section&id=%E4%B8%83%E3%80%81%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E5%8F%8A%E5%85%B6%E5%85%B3%E8%81%94%E6%96%B9%E5%AF%B9%E4%B8%8A%E5%B8%82%E5%85%AC%E5%8F%B8%E7%9A%84%E9%9D%9E%E7%BB%8F%E8%90%A5%E6%80%A7%E5%8D%A0%E7%94%A8%E8%B5%84%E9%87%91%E6%83%85%E5%86%B5) During the reporting period, there was no non-operating fund occupation by the controlling shareholder and its related parties - The company had no non-operating fund occupation by controlling shareholders and their related parties during the reporting period[28](index=28&type=chunk) [VIII. Investor Relations Activities Registration Form](index=10&type=section&id=%E5%85%AB%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E6%8E%A5%E5%BE%85%E8%B0%83%E7%A0%94%E3%80%81%E6%B2%9F%E9%80%9A%E3%80%81%E9%87%87%E8%AE%BF%E7%AD%89%E6%B4%BB%E5%8A%A8%E7%99%BB%E8%AE%B0%E8%A1%A8) During the reporting period, the company actively engaged in investor relations activities, hosting multiple on-site surveys with institutional investors Investor Relations Activities During the Reporting Period | Reception Date | Reception Location | Reception Method | Type of Reception Object | Reception Objects (Partial) | Main Content Discussed and Materials Provided | | :--- | :--- | :--- | :--- | :--- | :--- | | 2020 年 07 月 08 日 | Company Meeting Room | On-site Survey | Institutional | Huitianfu Fund, Shenwan Hongyuan, Ping An Securities | Details available on Juchao Information Network | | 2020 年 07 月 22 日 | Company Meeting Room | On-site Survey | Institutional | Huaxi Securities, Guotai Fund, Wanjia Fund | Details available on Juchao Information Network | | 2020 年 09 月 09 - 11 日 | Company Meeting Room | On-site Survey | Institutional | Guohua Life, Zheshang Fund, Hozon Asset | Details available on Juchao Information Network | | 2020 年 09 月 15 日 | Company Meeting Room | On-site Survey | Institutional | CICC, Huaan Fund, BOC International Securities | Details available on Juchao Information Network | | 2020 年 09 月 28 日 | Company Meeting Room | On-site Survey | Institutional | Fosun International, Juming Investment, Ruide Capital | Details available on Juchao Information Network | [Section IV Financial Statements](index=12&type=section&id=%E7%AC%AC%E5%9B%9B%E8%8A%82%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section presents the company's consolidated and parent company financial statements, including balance sheets, income statements, cash flow statements, and adjustment explanations [1. Consolidated Balance Sheet](index=12&type=section&id=1%E3%80%81%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) This section presents the consolidated balance sheet as of September 30, 2020, and December 31, 2019, reflecting the combined financial position - Detailed consolidated balance sheet data can be found in the original text on pages 12-15[34](index=34&type=chunk)[35](index=35&type=chunk)[36](index=36&type=chunk)[37](index=37&type=chunk) [2. Parent Company Balance Sheet](index=15&type=section&id=2%E3%80%81%E6%AF%8D%E5%85%AC%E5%8F%B8%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) This section presents the parent company balance sheet as of September 30, 2020, and December 31, 2019, reflecting the company's financial position - Detailed parent company balance sheet data can be found in the original text on pages 15-17[37](index=37&type=chunk)[39](index=39&type=chunk)[40](index=40&type=chunk) [3. Consolidated Income Statement for the Current Reporting Period](index=17&type=section&id=3%E3%80%81%E5%90%88%E5%B9%B6%E6%9C%AC%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%88%A9%E6%B6%A6%E8%A1%A8) This section presents the consolidated income statement for the third quarter of 2020, reflecting the operating results of the company and its subsidiaries - Detailed consolidated income statement data for the current reporting period can be found in the original text on pages 17-20[42](index=42&type=chunk)[43](index=43&type=chunk)[44](index=44&type=chunk)[45](index=45&type=chunk) [4. Parent Company Income Statement for the Current Reporting Period](index=20&type=section&id=4%E3%80%81%E6%AF%8D%E5%85%AC%E5%8F%B8%E6%9C%AC%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%88%A9%E6%B6%A6%E8%A1%A8) This section presents the parent company income statement for the third quarter of 2020, reflecting the company's operating results - Detailed parent company income statement data for the current reporting period can be found in the original text on pages 20-22[46](index=46&type=chunk)[47](index=47&type=chunk)[48](index=48&type=chunk)[49](index=49&type=chunk) [5. Consolidated Income Statement from Year-Beginning to End of Reporting Period](index=22&type=section&id=5%E3%80%81%E5%90%88%E5%B9%B6%E5%B9%B4%E5%88%9D%E5%88%B0%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E5%88%A9%E6%B6%A6%E8%A1%A8) This section presents the consolidated income statement from January 1 to September 30, 2020, reflecting cumulative operating results - Detailed consolidated income statement data from year-beginning to end of reporting period can be found in the original text on pages 22-25[51](index=51&type=chunk)[52](index=52&type=chunk)[53](index=53&type=chunk)[54](index=54&type=chunk) [6. Parent Company Income Statement from Year-Beginning to End of Reporting Period](index=25&type=section&id=6%E3%80%81%E6%AF%8D%E5%85%AC%E5%8F%B8%E5%B9%B4%E5%88%9D%E8%87%B3%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E5%88%A9%E6%B6%A6%E8%A1%A8) This section presents the parent company income statement from January 1 to September 30, 2020, reflecting the company's cumulative operating results - Detailed parent company income statement data from year-beginning to end of reporting period can be found in the original text on pages 25-27[56](index=56&type=chunk)[57](index=57&type=chunk)[58](index=58&type=chunk) [7. Consolidated Cash Flow Statement from Year-Beginning to End of Reporting Period](index=27&type=section&id=7%E3%80%81%E5%90%88%E5%B9%B6%E5%B9%B4%E5%88%9D%E5%88%B0%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) This section presents the consolidated cash flow statement from January 1 to September 30, 2020, reflecting cash inflows and outflows - Detailed consolidated cash flow statement data from year-beginning to end of reporting period can be found in the original text on pages 27-29[59](index=59&type=chunk)[60](index=60&type=chunk)[61](index=61&type=chunk) [8. Parent Company Cash Flow Statement from Year-Beginning to End of Reporting Period](index=29&type=section&id=8%E3%80%81%E6%AF%8D%E5%85%AC%E5%8F%B8%E5%B9%B4%E5%88%9D%E5%88%B0%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) This section presents the parent company cash flow statement from January 1 to September 30, 2020, reflecting the company's cash inflows and outflows - Detailed parent company cash flow statement data from year-beginning to end of reporting period can be found in the original text on pages 29-30[62](index=62&type=chunk)[63](index=63&type=chunk)[64](index=64&type=chunk) [II. Explanation of Financial Statement Adjustments](index=30&type=section&id=%E4%BA%8C%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E8%B0%83%E6%95%B4%E6%83%85%E5%86%B5%E8%AF%B4%E6%98%8E) This section explains financial statement adjustments due to the first-time adoption of new revenue recognition standards, reclassifying advances from customers - The company adopted "Accounting Standard for Business Enterprises No. 14 – Revenue" starting January 1, 2020, reclassifying the non-tax portion of advances from customers to contract liabilities and the tax portion to taxes payable[69](index=69&type=chunk)[74](index=74&type=chunk) Consolidated Balance Sheet Adjustments (January 1, 2020) | Item | December 31, 2019 (CNY) | January 1, 2020 (CNY) | Adjustment Amount (CNY) | | :--- | :--- | :--- | :--- | | Advances from Customers | 4,029,930.51 | 0.00 | -4,029,930.51 | | Contract Liabilities | 0.00 | 3,566,310.19 | 3,566,310.19 | | Taxes Payable | 1,063,603.63 | 1,527,223.95 | 463,620.32 | Parent Company Balance Sheet Adjustments (January 1, 2020) | Item | December 31, 2019 (CNY) | January 1, 2020 (CNY) | Adjustment Amount (CNY) | | :--- | :--- | :--- | :--- | | Advances from Customers | 3,753,710.50 | 0.00 | -3,753,710.50 | | Contract Liabilities | 0.00 | 3,321,867.70 | 3,321,867.70 | | Taxes Payable | 409,908.28 | 841,751.08 | 431,842.80 | [Section III Audit Report](index=36&type=section&id=%E4%B8%89%E3%80%81%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) This section indicates that the company's third-quarter report is unaudited - The company's third-quarter report is unaudited[75](index=75&type=chunk)

[Important Notes, Table of Contents, and Definitions](index=2&type=section&id=第一节%20重要提示、目录和释义) This section confirms the responsibility of the board, supervisory board, and senior management for the report's accuracy and outlines the company's dividend policy. - The company's board of directors, supervisory board, and senior management ensure the truthfulness, accuracy, and completeness of this semi-annual report and assume corresponding legal responsibilities[3](index=3&type=chunk) - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the first half of 2020[5](index=5&type=chunk) [Company Profile and Key Financial Indicators](index=6&type=section&id=第二节%20公司简介和主要财务指标) This section provides an overview of the company's basic information and presents key financial performance indicators for the reporting period. [Company Profile](index=6&type=section&id=一、公司简介) Shanghai Juzi Technology Co., Ltd. (stock code: 300802) is a company listed on the Shenzhen Stock Exchange, with Yang Yong as its legal representative. Company Basic Information | Item | Content | | :--- | :--- | | Stock Abbreviation | Juzi Technology | | Stock Code | 300802 | | Listing Exchange | Shenzhen Stock Exchange | | Full Chinese Name | Shanghai Juzi Technology Co., Ltd. | | Legal Representative | Yang Yong | [Key Accounting Data and Financial Indicators](index=7&type=section&id=四、主要会计数据和财务指标) In the first half of 2020, the company achieved operating revenue of CNY 233 million, a 7.23% increase, but net profit attributable to shareholders decreased by 14.19% to CNY 42.19 million, with operating cash flow turning negative. Key Financial Indicators for H1 2020 | Indicator | Current Period | Prior Year Period | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (CNY) | 232,691,274.81 | 217,007,753.54 | 7.23% | | Net Profit Attributable to Shareholders (CNY) | 42,187,674.32 | 49,166,123.81 | -14.19% | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) (CNY) | 37,112,839.02 | 48,343,272.65 | -23.23% | | Net Cash Flow from Operating Activities (CNY) | -25,460,280.84 | 45,603,973.00 | -155.83% | | Basic Earnings Per Share (CNY/share) | 0.26 | 0.31 | -16.13% | | Weighted Average Return on Net Assets | 4.37% | 11.66% | -7.29% | | **Indicator** | **End of Current Period** | **End of Prior Year** | **YoY Change** | | Total Assets (CNY) | 1,115,753,727.26 | 1,114,263,768.74 | 0.13% | | Net Assets Attributable to Shareholders (CNY) | 967,548,591.91 | 944,612,481.67 | 2.43% | [Non-Recurring Gains and Losses Items and Amounts](index=8&type=section&id=六、非经常性损益项目及金额) During the reporting period, the company's non-recurring gains and losses totaled CNY 5.07 million, primarily from government grants and investment income from transactional financial assets. Non-Recurring Gains and Losses Items | Item | Amount (CNY) | | :--- | :--- | | Government Grants | 2,400,299.19 | | Fair Value Changes and Investment Income from Transactional Financial Assets | 3,537,658.22 | | Other Non-Operating Income/Expenses and Disposal of Non-Current Assets | 31,922.01 | | **Total** | **5,074,835.30** | [Business Overview](index=9&type=section&id=第三节%20公司业务概要) This section outlines the company's principal businesses, products, operating models, significant asset changes, and core competitive advantages. [Principal Business, Products, and Operating Model](index=9&type=section&id=一、报告期内公司从事的主要业务) The company specializes in R&D, production, and sales of intelligent equipment and components, including machine vision equipment, control cable assemblies, and control units, serving electronics manufacturing and industrial control sectors. - The company's principal business involves the R&D, production, and sales of intelligent equipment and components, primarily including machine vision equipment, control cable assemblies, and control units and devices[28](index=28&type=chunk) - The core of the company's machine vision equipment lies in its independently developed software algorithms and optical designs, having successfully entered the 3D inspection field with product performance reaching international advanced levels and achieving import substitution[29](index=29&type=chunk) - The company adopts a 'production-to-order' model, combining direct sales with distributor sales, while control cable assemblies, control units, and devices are customized products sold directly[31](index=31&type=chunk)[32](index=32&type=chunk) [Significant Changes in Major Assets](index=11&type=section&id=二、主要资产重大变化情况) At the end of the reporting period, the company's monetary funds significantly decreased by 69.62% due to the purchase of wealth management products, while transactional financial assets surged by 6527.27%. Explanation of Major Asset Changes | Major Asset | Explanation of Significant Change | | :--- | :--- | | Monetary Funds | Decreased by CNY 447 million, a 69.62% reduction from the beginning of the period, primarily due to the company using part of its raised funds for cash management by purchasing wealth management products | | Transactional Financial Assets | Increased by CNY 359 million, a 6527.27% increase from the beginning of the period, primarily due to the company using initial public offering funds for cash management by purchasing structured deposits and other wealth management products | [Analysis of Core Competencies](index=11&type=section&id=三、核心竞争力分析) The company's core competencies include strong technical advantages in 2D/3D detection, superior product performance, established brand reputation, and flexible production management for customized needs. - The company possesses strong technical advantages in core algorithms and optical systems for 2D and 3D inspection, holding **49 software copyrights and 56 patents** as of the end of the reporting period[37](index=37&type=chunk) - The company's products exhibit internationally leading key performance indicators, such as detection speed, accuracy, and detection rate, and offer customized software design to meet client requirements[38](index=38&type=chunk) - The company has established a flexible production management system suitable for multi-variety, small-batch, and multi-frequency demands, catering to customized non-standard product requirements[38](index=38&type=chunk) [Management Discussion and Analysis](index=13&type=section&id=第四节%20经营情况讨论与分析) This section discusses the company's operational performance, principal business analysis, non-principal business impact, asset and liability status, investment activities, and risk management strategies. [Overview of Operations](index=13&type=section&id=一、概述) In H1 2020, operating revenue grew 7.23% to CNY 233 million despite challenges, but net profit attributable to shareholders declined 14.19% to CNY 42.19 million due to slower client investment and increased R&D. - During the reporting period, the company's operating revenue was **CNY 233 million**, a **7.23% year-on-year increase**, while net profit attributable to parent company shareholders was **CNY 42.19 million**, a **14.19% year-on-year decrease**[42](index=42&type=chunk) - The decline in performance was primarily due to delayed demand from downstream customers caused by the pandemic and trade frictions, coupled with increased R&D investment in new areas such as semiconductors and mini LED[42](index=42&type=chunk) - The market promotion of the new **3D SPI** product was successful, with total orders exceeding **CNY 27 million** during the reporting period, and the 3D inspection business achieved counter-trend growth in the second quarter[43](index=43&type=chunk) [Analysis of Principal Business](index=13&type=section&id=二、主营业务分析) Control units and devices revenue surged by 197.31%, driving overall growth, while core machine vision equipment revenue decreased by 19.73% with a 5.45 percentage point decline in gross margin. Operating Performance by Product or Service (Unit: CNY) | Product/Service | Operating Revenue | Operating Cost | Gross Margin | YoY Change in Operating Revenue | YoY Change in Operating Cost | YoY Change in Gross Margin | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Machine Vision Equipment | 88,068,954.27 | 41,225,079.29 | 53.19% | -19.73% | -9.16% | -5.45% | | Control Cable Assemblies | 77,527,395.69 | 58,066,803.16 | 25.10% | -5.90% | -8.83% | 2.41% | | Control Units and Devices | 64,089,449.04 | 53,643,527.12 | 16.30% | 197.31% | 203.66% | -1.75% | YoY Changes in Key Financial Data | Item | YoY Change | Reason for Change | | :--- | :--- | :--- | | Operating Revenue | 7.23% | Due to increased revenue from control units and devices | | Operating Cost | 20.52% | Corresponding increase in costs due to increased revenue | | Financial Expenses | -671.29% | Primarily due to interest income and exchange gains | | R&D Investment | 24.33% | Primarily due to increased R&D personnel | | Net Cash Flow from Operating Activities | -155.83% | Primarily due to increased inventory and slower collections due to the pandemic | | Net Cash Flow from Investing Activities | -25,298.05% | Primarily due to cash management of raised funds | [Analysis of Non-Principal Business](index=14&type=section&id=三、非主营业务分析) Non-principal business activities impacted profit, with investment income of CNY 3.76 million, accounting for 6.98% of total profit, mainly from wealth management products, which is not sustainable. Non-Principal Business Profit and Loss | Item | Amount (CNY) | Percentage of Total Profit | Explanation | | :--- | :--- | :--- | :--- | | Investment Income | 3,764,164.09 | 6.98% | Primarily from wealth management products and structured deposits | | Fair Value Change Gains/Losses | -226,505.87 | -0.42% | Primarily from losses on forward foreign exchange contracts | [Analysis of Assets and Liabilities](index=15&type=section&id=四、资产、负债状况分析) As of the reporting period end, total assets were CNY 1.116 billion, largely stable, but asset structure shifted with monetary funds decreasing and transactional financial assets significantly increasing due to cash management. - The company's use of raised funds for cash management led to a significant increase in transactional financial assets to **CNY 364.5 million** at period-end, with a corresponding decrease in monetary funds[55](index=55&type=chunk) - As of the end of the reporting period, the company had **CNY 56.12 million** in restricted assets, primarily comprising monetary funds for bill deposits, accounts receivable pledged for bank acceptance bills, and fixed and intangible assets used to secure USD loans[57](index=57&type=chunk) [Analysis of Investment Status](index=16&type=section&id=五、投资状况分析) During the reporting period, the company made an equity investment of CNY 20 million and utilized CNY 81.47 million of its CNY 496 million raised funds, primarily for R&D and working capital, while managing idle funds through wealth management products. - During the reporting period, the company's investment amounted to **CNY 20 million**, compared to zero in the prior year period[58](index=58&type=chunk) Use of Raised Funds (Unit: CNY 10,000) | Project | Committed Investment Amount of Raised Funds | Cumulative Investment Amount as of Period-End | Investment Progress | | :--- | :--- | :--- | :--- | | Machine Vision Inspection Equipment R&D Center Project | 7,887.73 | 1,147.44 | 14.55% | | Replenishment of Working Capital | 14,000.00 | 7,000.00 | 50.00% | | **Total** | **49,552.06** | **8,147.44** | **-** | - The company utilized idle raised funds for cash management, with entrusted wealth management transactions totaling **CNY 400 million** during the reporting period, and an outstanding balance of **CNY 359.5 million** at period-end[69](index=69&type=chunk) [Analysis of Major Holding and Participating Companies](index=20&type=section&id=七、主要控股参股公司分析) Suzhou Judu Electronic Technology Co., Ltd., a major subsidiary, reported strong performance with a 36.16% increase in operating revenue to CNY 154 million and a net profit of CNY 19.65 million, driven by mass production of upgraded photovoltaic tracking systems. Key Financial Data of Suzhou Judu Electronic Technology Co., Ltd. (Unit: CNY) | Indicator | Amount | | :--- | :--- | | Total Assets | 241,657,667.75 | | Net Assets | 154,502,459.81 | | Operating Revenue | 154,426,078.05 | | Operating Profit | 22,712,517.75 | | Net Profit | 19,645,826.34 | - Suzhou Judu's operating revenue increased by **36.16% year-on-year**, primarily due to the mass production phase of its photovoltaic tracking system products[75](index=75&type=chunk) [Risks Faced by the Company and Countermeasures](index=21&type=section&id=九、公司面临的风险和应对措施) The company faces risks from the COVID-19 pandemic, international trade frictions, exchange rate fluctuations, reliance on distributors, customer concentration, and intensified market competition, addressed through innovation and market expansion. - The company faces major risks including the COVID-19 pandemic, international trade environment, exchange rate fluctuations, reliance on the distribution model, high customer concentration, and intensified market competition[76](index=76&type=chunk)[77](index=77&type=chunk) - Countermeasures include continuously launching technologically advanced new products, such as 3D inspection equipment, vigorously developing domestic clients, and expanding into new application areas to enhance core competitiveness and expand market share[76](index=76&type=chunk)[78](index=78&type=chunk) [Significant Events](index=23&type=section&id=第五节%20重要事项) This section details other significant events, including the acquisition of a subsidiary's remaining equity and participation in a venture capital fund. [Other Significant Matters](index=26&type=section&id=十六、其他重大事项的说明) The company acquired the remaining 25% equity of Suzhou Judu Electronic Technology Co., Ltd., making it a wholly-owned subsidiary, and invested CNY 50 million in a venture capital fund to strategically expand its industry chain. - The company completed the issuance of shares and cash payment to Cui Qin and Zhang Han to acquire their 25% equity in Suzhou Judu, making Suzhou Judu a wholly-owned subsidiary after the transaction[109](index=109&type=chunk)[110](index=110&type=chunk) - The company, as a limited partner, invested **CNY 50 million** of its own funds to participate in the establishment of the venture capital fund 'Xindongneng Fund'[111](index=111&type=chunk) - The company injected an additional **CNY 50 million** into its wholly-owned subsidiary, Suzhou Juzi Intelligent Technology Co., Ltd., for the implementation of projects funded by raised capital[112](index=112&type=chunk) [Share Changes and Shareholder Information](index=29&type=section&id=第六节%20股份变动及股东情况) This section details changes in the company's share capital, securities issuance, and the overall shareholder structure. [Share Capital Changes](index=29&type=section&id=一、股份变动情况) The company implemented a 2019 equity distribution, converting capital reserves into shares at a ratio of 6 shares for every 10, increasing total share capital from 100 million to 160 million shares. - The company implemented its 2019 equity distribution, converting capital reserves into shares at a ratio of **6 shares for every 10**, increasing total share capital from **100 million shares to 160 million shares**[117](index=117&type=chunk) [Issuance and Listing of Securities](index=31&type=section&id=二、证券发行与上市情况) To acquire 25% equity in Suzhou Judu, the company issued 2,452,482 new shares at CNY 32.62 per share, which were listed on July 6, 2020. - The company issued **2,452,482 shares** to Cui Qin and Zhang Han for asset acquisition, with the newly issued shares listed on **July 6, 2020**[123](index=123&type=chunk) [Shareholder Numbers and Shareholding Structure](index=31&type=section&id=三、公司股东数量及持股情况) As of the reporting period end, the company had 15,674 common shareholders, with the actual controller Yang Yong holding 24.50% as the largest shareholder, and the top ten shareholders collectively holding a significant stake. - At the end of the reporting period, the company had a total of **15,674 common shareholders**[125](index=125&type=chunk) Top Five Shareholders' Shareholding | Shareholder Name | Shareholding Percentage | Shares Held at Period-End | | :--- | :--- | :--- | | Yang Yong | 24.50% | 39,193,200 | | Suzhou Yuanya Venture Capital Partnership | 7.66% | 12,258,720 | | Shanghai Juzi Investment Management Co., Ltd. | 7.16% | 11,460,000 | | Wang Jianxun | 6.12% | 9,798,360 | | Lei Baojia | 6.12% | 9,798,360 | [Information on Directors, Supervisors, and Senior Management](index=36&type=section&id=第九节%20董事、监事、高级管理人员情况) This section provides details on the shareholding changes of the company's directors, supervisors, and senior management. [Changes in Shareholdings of Directors, Supervisors, and Senior Management](index=36&type=section&id=一、董事、监事和高级管理人员持股变动) The increase in shareholdings of directors, supervisors, and senior management during the reporting period was solely due to the capital reserve conversion, with no active buying or selling. - The increase in shareholdings of directors, supervisors, and senior management resulted from the company's capital reserve conversion into share capital, not from active purchases[135](index=135&type=chunk) [Financial Report](index=38&type=section&id=第十一节%20财务报告) This section presents the company's financial statements, significant accounting policies, and detailed notes to the consolidated financial statement items. [Financial Statements](index=38&type=section&id=二、财务报表) As of June 30, 2020, total assets were CNY 1.116 billion, total liabilities CNY 106 million, and equity attributable to parent company shareholders CNY 968 million, with H1 operating revenue of CNY 233 million and net profit of CNY 46.25 million. [Consolidated Balance Sheet](index=38&type=section&id=1、合并资产负债表) As of June 30, 2020, total assets were CNY 1.116 billion, a slight increase of 0.13%, with a significant shift from monetary funds to transactional financial assets. Key Items from Consolidated Balance Sheet (Unit: CNY) | Item | June 30, 2020 | December 31, 2019 | | :--- | :--- | :--- | | Monetary Funds | 195,177,720.13 | 642,438,077.11 | | Transactional Financial Assets | 364,500,000.00 | 5,500,000.00 | | Accounts Receivable | 189,029,923.33 | 157,714,436.30 | | Inventories | 110,637,549.72 | 101,967,958.95 | | **Total Assets** | **1,115,753,727.26** | **1,114,263,768.74** | | Short-term Borrowings | 7,079,500.00 | 27,745,025.00 | | **Total Liabilities** | **106,211,308.09** | **132,100,256.29** | | Total Equity Attributable to Parent Company Shareholders | 967,548,591.91 | 944,612,481.67 | | **Total Liabilities and Equity** | **1,115,753,727.26** | **1,114,263,768.74** | [Consolidated Income Statement](index=44&type=section&id=3、合并利润表) In H1 2020, total operating revenue was CNY 233 million, up 7.23%, but increased operating costs and R&D expenses led to a 9.58% decrease in total profit and a 14.19% decrease in net profit attributable to parent company shareholders. Key Items from Consolidated Income Statement (Unit: CNY) | Item | H1 2020 | H1 2019 | | :--- | :--- | :--- | | Total Operating Revenue | 232,691,274.81 | 217,007,753.54 | | Total Operating Costs | 182,963,106.40 | 158,055,698.79 | | Including: R&D Expenses | 13,456,919.64 | 10,823,710.90 | | Financial Expenses | -5,144,212.00 | -666,964.27 | | Investment Income | 3,764,164.09 | 171,100.82 | | Total Profit | 53,890,158.28 | 59,601,400.39 | | Net Profit | 46,245,633.49 | 51,246,446.22 | | Net Profit Attributable to Parent Company Shareholders | 42,187,674.32 | 49,166,123.81 | [Consolidated Cash Flow Statement](index=48&type=section&id=5、合并现金流量表) In H1 2020, net cash flow from operating activities turned negative at CNY -25.46 million, while investing activities saw a net outflow of CNY -360 million, primarily due to wealth management product purchases. Consolidated Cash Flow Statement Summary (Unit: CNY) | Item | H1 2020 | H1 2019 | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -25,460,280.84 | 45,603,973.00 | | Net Cash Flow from Investing Activities | -360,062,102.35 | -1,417,676.22 | | Net Cash Flow from Financing Activities | -47,460,487.06 | -40,188,907.89 | | Net Increase in Cash and Cash Equivalents | -431,440,227.58 | 4,878,761.48 | | Cash and Cash Equivalents at Period-End | 101,891,137.33 | 43,044,929.63 | [Significant Accounting Policies and Estimates](index=60&type=section&id=五、重要会计政策及会计估计) The most significant accounting policy change in this period was the adoption of new revenue recognition standards from January 1, 2020, leading to adjustments in "Advances from Customers" to "Contract Liabilities" and "Taxes Payable." - The company adopted the newly revised 'Accounting Standard for Business Enterprises No. 14 – Revenue' effective **January 1, 2020**, and adjusted relevant financial statement items accordingly[268](index=268&type=chunk) - Under the new revenue standard, the company reclassified the original **CNY 4.03 million** in 'Advances from Customers' to **CNY 3.57 million** in 'Contract Liabilities' and **CNY 0.46 million** in 'Taxes Payable'[269](index=269&type=chunk) [Notes to Consolidated Financial Statement Items](index=86&type=section&id=七、合并财务报表项目注释) Notes detail item composition and changes, including a significant decrease in monetary funds due to CNY 365 million in wealth management product purchases, and CNY 13.46 million in R&D expenses fully expensed. - The period-end balance of monetary funds decreased compared to the beginning of the year, primarily due to the company using part of its raised funds for cash management by purchasing wealth management products[290](index=290&type=chunk) - As of period-end, the book balance of accounts receivable was **CNY 198 million**, with a bad debt provision of **CNY 9.46 million**, resulting in a book value of **CNY 189 million**; the top five customers accounted for **59.19%** of total accounts receivable[300](index=300&type=chunk)[309](index=309&type=chunk) - Internal development expenditures of **CNY 13.46 million** for the current period were fully expensed and recognized in current profit and loss, not forming intangible assets[361](index=361&type=chunk) [Documents Available for Inspection](index=135&type=section&id=第十二节%20备查文件目录) This section lists the documents available for inspection, including the signed semi-annual report, financial statements, and publicly disclosed files, kept at the company's securities department. - Documents available for inspection include the semi-annual report text signed by the legal representative, financial statements with seals and signatures, and originals of all publicly disclosed documents during the reporting period, kept at the company's securities department[537](index=537&type=chunk)

2020 年 04 月 1 上海矩子科技股份有限公司 2020 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。 上海矩子科技股份有限公司 2020 年第一季度报告全文 上海矩子科技股份有限公司 2020 年第一季度报告 2020-051 所有董事均已出席了审议本次季报的董事会会议。 公司负责人杨勇、主管会计工作负责人王建勋及会计机构负责人(会计主管 人员)吴海欣声明：保证季度报告中财务报表的真实、准确、完整。 2 上海矩子科技股份有限公司 2020 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） | 99,909,671.82 | 99,787,529.72 | 0.12% | | 归属于上市公司股东的净利润（元） | 18,580,222.45 | 2 ...