Financial Performance - The company's operating revenue for the first half of 2021 was ¥333,097,695.05, representing an increase of 8.38% compared to ¥307,337,874.86 in the same period last year[20]. - The net profit attributable to shareholders of the listed company decreased by 13.88% to ¥18,252,831.12 from ¥21,194,177.08 in the previous year[20]. - Basic earnings per share decreased by 15.38% to ¥0.11 from ¥0.13 in the previous year[20]. - The company reported a total share count of 160,000,000 shares, with 69.00% being restricted shares and 31.00% being unrestricted shares[138]. - The company reported a total revenue from sales of goods and services of ¥314,184,986.16, compared to ¥289,760,561.83 in the first half of 2020, marking an increase of 8.4%[175]. - The total profit for the first half of 2021 was ¥22,177,134.63, a decrease of 5.3% compared to ¥23,421,472.99 in the same period last year[168]. Cash Flow and Financial Position - The net cash flow from operating activities was negative at -¥21,792,450.07, a significant decline of 5,738.43% compared to ¥386,498.23 in the same period last year[20]. - The company reported a financial expense of CNY 5,178,981.49, significantly higher than CNY 1,001,254.79 in the first half of 2020[163]. - Cash and cash equivalents decreased by 3.93% to CNY 79,040,424.4, mainly due to investments in financial products[70]. - The company’s cash flow from operating activities showed a strong recovery, indicating improved operational efficiency and financial health[175]. - The company reported a cash balance of CNY 79,040,424.43, down from CNY 133,018,848.80 at the end of 2020, indicating a decrease of approximately 40.5%[154]. Research and Development - Research and development expenses rose by 8.93% to ¥11,990,470.79, reflecting the company's commitment to innovation[62]. - The company has established a comprehensive R&D management system to ensure timely market introduction of new products[39]. - The company is actively involved in R&D to innovate and improve its product offerings, ensuring competitiveness in a rapidly evolving market[44]. Market and Product Development - The LED lighting industry has maintained a compound annual growth rate of over 30% due to rapid market demand and strong government support, providing a solid market foundation for the company's products[40]. - The company has developed a product series focused on LED mobile and home lighting, including emergency lights, flashlights, camping lights, desk lamps, and bulb lights[28]. - The company emphasizes user experience and innovation in product development, integrating smart control and energy-saving technologies[38]. - The company is focusing on smart lighting solutions, integrating IoT technology to enhance user experience and operational efficiency[44]. Competition and Market Strategy - The company faces significant market competition in the LED industry, with a focus on enhancing R&D and product quality to maintain competitiveness[92]. - The company is expanding its overseas market presence while being cautious of potential political and economic uncertainties[93]. - The company has established a comprehensive distribution network both domestically and internationally, leveraging various sales models to maximize revenue[42]. Shareholder and Governance - The largest shareholder, Zhuo Chuguang, holds 42.88% of the shares, totaling 68,604,000 shares[140]. - The company has maintained a stable shareholder structure with no new significant shareholders added during the reporting period[140]. - The company did not conduct any investor communications or research activities during the reporting period[98]. Regulatory and Compliance - The financial report for the first half of 2021 was not audited[152]. - The financial report was approved by the board of directors on August 26, 2021, ensuring compliance with regulatory requirements[199]. - The company has not reported any significant events that would affect its ability to continue as a going concern[200].

Financial Performance - Revenue for Q1 2021 was CNY 157,883,192.37, an increase of 2.84% compared to CNY 153,525,074.94 in the same period last year[8] - Net profit attributable to shareholders was CNY 12,910,010.46, a decrease of 3.05% from CNY 13,316,178.46 year-on-year[8] - Net profit excluding non-recurring gains and losses increased by 7.91% to CNY 12,105,054.62 from CNY 11,217,335.11 in the previous year[8] - The company achieved operating revenue of 157.88 million yuan, an increase of 2.84% compared to the same period last year[22] - The net profit attributable to shareholders was 12.91 million yuan, a decrease of 3.05% year-on-year[22] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 12.11 million yuan, an increase of 7.91% year-on-year[22] - The total profit for the period was CNY 14,630,736.45, compared to CNY 17,814,861.11 in the previous year, indicating a decline of 17.3%[48] - The operating profit for the period was CNY 14,504,170.40, down from CNY 15,298,362.30 in the previous year, representing a decline of 5.2%[48] Cash Flow - Operating cash flow improved significantly, with a net cash flow of CNY -17,756,067.48, a 68.70% increase from CNY -56,726,817.85 in the same period last year[8] - The net cash flow from operating activities improved significantly, with a net outflow of 17.76 million yuan, a 68.70% reduction compared to the previous year's outflow of 56.73 million yuan[21] - The company recorded a total comprehensive income of CNY 13,154,966.28, compared to CNY 13,313,255.24 in the previous year, a decrease of 1.2%[49] - Operating cash flow for the first quarter was CNY 16,065,320.66, a significant improvement compared to a net outflow of CNY 48,530,778.00 in the same period last year[59] - The company experienced a net decrease in cash and cash equivalents of CNY 65,819,423.04, compared to a decrease of CNY 187,202,838.42 in the same quarter last year[60] Assets and Liabilities - Total assets decreased by 2.90% to CNY 1,349,872,259.82 from CNY 1,390,240,672.49 at the end of the previous year[8] - Cash and cash equivalents decreased by 48.07% to CNY 69,079,091.64 due to repayment of bank loans and expenditures on construction projects[17] - Accounts receivable increased to CNY 285,474,876.07 from CNY 266,058,347.04, reflecting an increase of about 7.3%[38] - Inventory rose to CNY 200,340,519.26, up from CNY 188,859,348.65, indicating an increase of approximately 6.9%[38] - The company's short-term borrowings decreased to CNY 64,775,363.52 from CNY 90,630,896.50, a reduction of about 28.5%[39] - Total current liabilities decreased to CNY 153,091,133.78 from CNY 162,142,814.32, showing a decline of approximately 5.6%[39] Expenses - Sales expenses decreased by 48.13% to CNY 5,132,793.70, primarily due to reclassification of contract performance costs[19] - Financial expenses increased by 187.23% to CNY 789,699.70, mainly due to the impact of the US dollar exchange rate[19] - Income tax expenses decreased by 67.20% to CNY 1,475,486.10, influenced by changes in tax rates[19] - Research and development expenses for Q1 2021 were CNY 4,949,431.73, slightly up from CNY 4,835,437.14 in Q1 2020, indicating a focus on innovation[47] Strategic Initiatives - The company plans to strengthen R&D and technological innovation to enhance product performance and reliability[24] - The company is actively expanding its domestic marketing network and exploring emerging markets in the Asia-Pacific region[24] - The company has established a stable channel network in major overseas markets, but faces risks from political and economic fluctuations[24] - The company is monitoring raw material price fluctuations and has strategies in place to mitigate their impact on profitability[25] Other Information - The company has no reported violations regarding external guarantees during the reporting period[32] - There were no significant changes in the feasibility of projects or expected returns during the reporting period[32] - The company did not engage in any research, communication, or interview activities during the reporting period[34] - The company has not undergone an audit for the first quarter report[61]

Financial Performance - The company achieved operating revenue of RMB 705.548 million, a year-on-year decrease of 19.79%[5] - The net profit attributable to shareholders was RMB 38.3393 million, down 51.55% year-on-year[5] - The decline in performance was primarily due to the impact of the COVID-19 pandemic, which delayed the resumption of work and affected logistics and sales[5] - The company experienced a narrowing decline in revenue in Q3 and Q4 of 2020, indicating a recovery trend[5] - Future expectations suggest that the pandemic's impact on sustained profitability will not be significant, especially with the rollout of vaccines[5] - The company reported increased foreign exchange losses compared to the previous year due to significant foreign sales primarily denominated in USD[5] - The company's operating revenue for 2020 was ¥705,548,042.18, a decrease of 19.79% compared to ¥879,602,396.23 in 2019[18] - The net profit attributable to shareholders for 2020 was ¥38,339,271.58, down 51.55% from ¥79,136,116.45 in 2019[18] - The net profit after deducting non-recurring gains and losses was ¥31,176,255.84, a decline of 59.38% from ¥76,743,545.42 in 2019[18] - The net cash flow from operating activities increased significantly by 300.98% to ¥106,869,750.05 from ¥26,652,189.29 in 2019[18] - The total assets at the end of 2020 were ¥1,390,240,672.49, a decrease of 4.82% from ¥1,460,582,541.11 at the end of 2019[18] - The net assets attributable to shareholders increased by 2.62% to ¥1,076,929,672.52 from ¥1,049,466,042.40 at the end of 2019[18] - The company reported a basic earnings per share of ¥0.24, down 62.50% from ¥0.64 in 2019[18] Product Development and Market Strategy - The company focuses on LED lighting products, including emergency lights, flashlights, camping lights, and table lamps, emphasizing user experience and technological innovation[27] - The company aims to integrate smart control and energy-saving technologies into its product development to meet market demands[27] - The company has established a product series centered on LED mobile and home lighting, with a commitment to continuous innovation and market expansion[27] - The LED lighting industry has maintained a compound annual growth rate (CAGR) of over 30% due to rapid market demand and strong government support[40] - The company has established core technologies such as LED constant current driving technology and human body induction technology, enhancing its competitive edge in the market[41] - The company’s products are sold in over 40 countries, covering regions such as West Asia, South Asia, Southeast Asia, and Africa, benefiting from global industry growth[40] - The company emphasizes a sales model primarily based on distributors, supplemented by trade merchants and e-commerce platforms, to achieve rapid market coverage[37] - The company has a comprehensive R&D management system to ensure timely product development and market responsiveness, focusing on user experience and innovative design[38] - The company has invested heavily in R&D to maintain its technological leadership and continuously upgrade its product offerings[41] - The domestic LED lighting market is expected to see the penetration rate increase from 11% in 2013 to 35% by 2020, driven by price reductions and improved consumer awareness[44] Financial Investments and Assets - The company's long-term equity investment increased by 100% to 16,360,251.85 RMB, primarily due to investments in Guangzhou Changsheng Jiuliang High-end Manufacturing Industry Investment Partnership[52] - Fixed assets grew by 45.67% to 408,410,257.29 RMB, mainly due to the completion of parts of the Zhaoqing lighting production base and automation warehousing and logistics projects[52] - Cash and cash equivalents decreased by 69.01% to 133,018,848.80 RMB, primarily due to investments in the Zhaoqing factory fundraising project and purchasing financial products[52] - Other current assets increased by 231.82% to 73,829,930.51 RMB, as the company utilized idle funds to purchase low-risk financial products[53] - The company reported a stable core technical team, essential for maintaining competitive advantage in the LED lighting industry[128] Dividend Policy and Shareholder Returns - The board approved a profit distribution plan, proposing a cash dividend of RMB 0.3 per 10 shares[8] - The total distributable profit for the year 2020 is reported at 327,369,340.06 yuan, with cash dividends constituting 100% of the profit distribution[147][148] - The company has a policy that mandates a minimum cash dividend ratio of 20% for growth-stage companies with significant capital expenditure plans[144][148] - In 2019, the company distributed cash dividends of 0.68 yuan per 10 shares, totaling 10,880,000 yuan, which was 13.75% of the net profit attributable to ordinary shareholders[149][152] - The company did not implement any cash dividends in 2018 despite having positive distributable profits[150][152] - The cash dividend distribution plan for 2020 was approved in a board meeting held on April 27, 2021[148] - The company has established clear conditions for cash and stock dividend distributions, ensuring compliance with its articles of association[147] - The cash dividend policy allows for adjustments based on the company's operational needs and financial conditions[145][147] - The company has consistently maintained transparency in its dividend distribution process, allowing minority shareholders to express their opinions[147] - The company’s cash dividend distribution aligns with its financial performance and strategic planning, reflecting a commitment to shareholder returns[147][148] Risks and Challenges - The company faces risks from intensified market competition and potential fluctuations in overseas market conditions[117] - The company is exposed to risks from fluctuations in raw material prices, particularly plastics influenced by oil prices[120] - The company is subject to risks from potential changes in national industrial policies that could negatively impact its development[124] Corporate Governance and Compliance - The company has committed to not transferring or entrusting the management of shares held prior to the IPO for 36 months from the listing date[154] - Shareholders are restricted from transferring more than 25% of their total shares held annually during their tenure as directors or senior management[155] - The lock-up period for shares will automatically extend for at least six months if the stock price falls below the issue price for 20 consecutive trading days post-IPO[155] - The company will ensure that the profit distribution policy is adjusted based on significant changes in external operating conditions or internal production situations[157] - The actual controllers of the company have pledged to fulfill the commitments disclosed in the prospectus, with potential compensation liabilities for any breaches[159] - The company has established measures to prevent conflicts of interest and ensure that its executives do not engage in competitive activities that could affect its operations[159] - The company emphasizes the importance of adhering to its commitments to protect shareholder interests and maintain regulatory compliance[158]

广东久量股份有限公司 2020 年第三季度报告全文 广东久量股份有限公司 2020 年第三季度报告 2020 年 10 月 1 广东久量股份有限公司 2020 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，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。 公司负责人卓楚光、主管会计工作负责人敬芙蓉及会计机构负责人(会计主 管人员)敬芙蓉声明：保证季度报告中财务报表的真实、准确、完整。 2 广东久量股份有限公司 2020 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | 本报告期末比上年度末增 | | | --- | --- | --- | --- | --- | | | | | 减 | | | 总资产（元） | 1,373,917,028.57 | 1,460,582,541.11 | | -5.93% | | 归属于上市公司股东的净资产 （元） | 1, ...

Financial Performance - The company's operating revenue for the first half of 2020 was approximately ¥307.34 million, a decrease of 27.70% compared to ¥425.09 million in the same period last year[19]. - The net profit attributable to shareholders was approximately ¥21.19 million, down 46.01% from ¥39.25 million year-on-year[19]. - The net cash flow from operating activities was approximately ¥386.50 thousand, a significant decline of 99.51% compared to ¥79.11 million in the previous year[19]. - Basic earnings per share decreased by 60.61% to ¥0.13 from ¥0.33 in the same period last year[19]. - Total assets at the end of the reporting period were approximately ¥1.36 billion, a decrease of 6.60% from ¥1.46 billion at the end of the previous year[19]. - The weighted average return on net assets was 2.00%, down from 6.57% in the same period last year, a decrease of 4.57%[19]. - The company reported non-recurring gains and losses totaling approximately ¥2.80 million for the period[23]. Cash Flow and Investments - The net cash flow from operating activities plummeted by 99.51% to CNY 386,498.23 from CNY 79,110,435.03, largely due to slower customer payments in certain regions affected by the pandemic[65]. - The company reported a significant increase in cash flow from investment activities, with a net outflow of CNY 251,639,118.57, up 267.95% from CNY -68,390,022.48, attributed to high construction expenditures and financial product purchases[65]. - The company’s investment in the reporting period amounted to CNY 88,650,031.94, a 29.89% increase from CNY 65,858,292.13 in the previous year[73]. - The company received ¥160,000,000.00 from the recovery of investments during the first half of 2020, which was not reported in the previous year[168]. Market and Industry Outlook - The LED lighting industry has maintained a compound annual growth rate (CAGR) of over 30% due to rapid market demand and strong government support, providing a solid market foundation for the company's products[38]. - The company anticipates continued growth in the LED lighting market, supported by technological advancements and favorable government policies[38]. - The penetration rate of LED lighting products in China's residential market is expected to increase from 11% in 2013 to 35% by 2020, driven by price reductions and improved consumer awareness[42]. - The government has implemented supportive policies for the LED lighting industry, aiming to increase the output value of functional LED lighting from 155.2 billion RMB in 2015 to 540 billion RMB by 2020[45]. - The LED lighting market is experiencing strong growth due to rising demand for energy-efficient products and supportive government policies promoting LED technology[41]. Product Development and Innovation - The company has developed a product series focused on LED mobile and home lighting, including LED emergency lights, flashlights, camping lights, desk lamps, and bulb lights[27]. - The company emphasizes user experience in product development, integrating smart control and energy-saving technologies to meet market demands[26]. - The company has established a comprehensive R&D management system to ensure timely product development and market responsiveness[36]. - The company has been actively involved in R&D to enhance its product offerings and adapt to market trends, ensuring long-term growth[46]. - Research and development investment was CNY 11,007,438.35, down 17.53% from CNY 13,347,418.91, indicating a potential slowdown in innovation efforts[65]. Risk Management and Challenges - The company faces various risks and has outlined measures to address them in the report[5]. - The company faces market competition risks in the LED lighting industry, with a severe competitive landscape due to macroeconomic factors and industry peers[87]. - The company is expanding its overseas business but faces risks from foreign market policies and currency fluctuations[89]. - The COVID-19 pandemic is expected to have a temporary impact on production and operations, depending on the progress of containment measures[93]. Shareholder and Equity Information - The total number of ordinary shareholders at the end of the reporting period was 20,463[130]. - The largest shareholder, Zhuo Chuguang, holds 42.88% of the shares[130]. - The total number of shares is 160,000,000, with 75% being restricted shares[127]. - The total equity attributable to the parent company at the end of the reporting period was 727.44 million yuan, a decrease of 413.54 million yuan compared to the previous period[176]. - The company did not distribute cash dividends or issue new shares during the reporting period[98]. Compliance and Governance - The financial report for the first half of 2020 was not audited[145]. - The company has established a three-party supervision agreement with the bank and the securities company for the management of raised funds[76]. - The company and its subsidiaries are not classified as key pollutant discharge units by environmental protection authorities[119]. - There are no significant legal disputes or regulatory penalties reported for the company during the reporting period[103][104].

Financial Performance - Total revenue for Q1 2020 was ¥153,525,074.94, a decrease of 19.44% compared to ¥190,581,871.88 in the same period last year[7] - Net profit attributable to shareholders was ¥13,316,178.46, down 2.37% from ¥13,639,363.32 year-on-year[7] - Basic earnings per share decreased by 27.27%, from ¥0.11 to ¥0.08[7] - Operating profit was 15.30 million, down 11.95% year-over-year, while net profit attributable to shareholders was 13.32 million, a decline of 2.37%[17] - The company reported a decrease in short-term borrowings to CNY 156,186,232.46 from CNY 225,549,387.17[44] - The net profit for Q1 2020 was ¥13,316,178.46, slightly down from ¥13,639,363.32, indicating a decrease of about 2% year-over-year[48] - The basic and diluted earnings per share were both ¥0.08, compared to ¥0.11 in the previous year, representing a decline of approximately 27%[49] - The comprehensive income totalled ¥13,313,255.24, down from ¥13,642,613.59, reflecting a decrease of about 2.4% year-over-year[49] Cash Flow - Net cash flow from operating activities was negative at -¥56,726,817.85, a decline of 603.37% compared to ¥11,269,505.58 in the previous year[7] - The company experienced a significant increase in cash outflow from operating activities, reporting -56.73 million compared to 11.27 million in the previous year, due to delayed collections of receivables[16] - The net cash flow from operating activities was -48,530,778.00 RMB, a significant decrease compared to 9,098,387.94 RMB in the previous period[59] - Total cash inflow from operating activities was 119,439,186.24 RMB, down from 191,622,747.57 RMB, indicating a decline of approximately 37.5%[59] - Cash outflow from operating activities totaled 167,969,964.24 RMB, compared to 182,524,359.63 RMB, reflecting a decrease of about 8%[59] - The net cash flow from investing activities was -65,632,973.18 RMB, worsening from -6,453,870.71 RMB in the previous period[60] - The net cash flow from financing activities was -75,171,431.28 RMB, compared to -16,183,144.20 RMB in the previous period, indicating a worsening situation[60] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,362,922,146.71, down 6.69% from ¥1,460,582,541.11 at the end of the previous year[7] - Total liabilities decreased to CNY 289,162,037.03 from CNY 402,392,319.77[44] - Current liabilities totaled CNY 260,578,376.39, a reduction from CNY 373,946,508.94[44] - Non-current liabilities remained relatively stable at CNY 28,583,660.64 compared to CNY 28,445,810.83 in the previous period[44] - Owner's equity increased to CNY 1,080,346,683.77 from CNY 1,067,775,720.80[44] Investments and Projects - The total amount of raised funds reached RMB 39,211.68 million, with RMB 5,253.06 million invested in the current quarter[29] - Cumulative investment from raised funds amounted to RMB 24,306.13 million, with no changes in usage reported[29] - The company has achieved a project investment progress rate of 73.60% for the Zhaoqing Jiuliang LED production base construction project[29] - The Zhaoqing Jiuliang automated warehousing and logistics base construction project has a progress rate of 57.40%[29] - The R&D center construction project in Zhaoqing Jiuliang has a progress rate of 8.84%[29] - As of March 31, 2020, the company has invested a total of RMB 31,606.13 million in raised funds, including RMB 24,306.13 million directly into projects[30] Market and Operational Strategy - The company plans to enhance R&D and technological innovation to improve product performance and reduce production costs in response to market competition risks[20] - The company aims to expand its domestic marketing network and explore emerging markets in Asia-Pacific while accelerating the development and sales of sterilization lamp products[22] - The company is actively monitoring raw material price fluctuations and has established stable supplier relationships to mitigate potential impacts on profitability[23] - The company is taking measures to manage foreign exchange risks, including using hedging financial instruments to lock in profits and minimize losses from currency fluctuations[24] - The ongoing COVID-19 pandemic is expected to have a temporary impact on production and operations, with the extent depending on the progress of pandemic control measures[25]

Financial Performance - The company's operating revenue for 2019 was CNY 879,602,396.23, representing a 1.39% increase compared to CNY 867,574,820.46 in 2018[17]. - The net profit attributable to shareholders for 2019 was CNY 79,136,116.45, a decrease of 11.12% from CNY 89,037,799.58 in 2018[17]. - The basic earnings per share for 2019 was CNY 0.64, down 13.51% from CNY 0.74 in 2018[17]. - The company reported a decrease in net profit for the fourth quarter of 2019 to CNY 17,738,107.98, compared to CNY 22,143,579.26 in the third quarter[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for 2019 was CNY 12,953,646.86, a decrease from CNY 24,968,655.85 in 2018[20]. - The net cash flow from operating activities dropped significantly by 70.54% to CNY 26,652,189.29 from CNY 90,474,671.12 in the previous year[17]. - The total operating costs amounted to 669,212,039.58 CNY, a slight increase of 0.18% compared to 666,019,211.12 CNY in 2018[73]. - The company's gross profit margin for the lighting fixture manufacturing segment was 23.92%, a slight increase of 0.69% year-on-year[69]. - The company’s net assets increased by 81.50% year-on-year to CNY 1,049.47 million[60]. Cash Flow and Assets - Cash and cash equivalents at the end of the period reached CNY 429,185,403.59, a growth of 475.51% mainly due to the arrival of raised funds[50]. - The company's fixed assets increased by 95.06% to CNY 280,374,009.72, primarily due to the completion of the Zhaoqing factory[49]. - The company’s cash and cash equivalents amounted to CNY 2,166,883.97 as of December 31, 2019[89]. - The total assets at year-end were 1,459,000,000.00 CNY, with cash and cash equivalents making up 29.38% of total assets[87]. - The company reported a significant increase in fixed assets, which rose to 280,374,009.7 CNY, accounting for 19.20% of total assets[87]. Market and Product Development - The company focuses on LED lighting products, including LED emergency lights, LED flashlights, and LED household lighting, with a strong emphasis on user experience and technological innovation[27][28]. - The company has developed a diverse product line that includes LED emergency lights, LED flashlights, LED camping lights, and LED table lamps, catering to various market needs[28][29][30]. - The LED lighting industry has maintained a compound annual growth rate (CAGR) of over 30% in recent years, supported by rapid market demand and favorable national policies[38]. - The company has established a comprehensive R&D management system to ensure timely product development and high user experience, with a focus on user needs and market trends[36]. - The company is focused on integrating smart technology into its products, positioning itself to capitalize on the emerging market for intelligent lighting solutions[42]. Sales and Distribution - The sales model primarily relies on distributors for domestic and international markets, supplemented by e-commerce platforms[35]. - The company has established a sales network with over 50 overseas distributors in regions such as West Asia, South Asia, Southeast Asia, and Africa, enhancing its brand influence[56]. - The company has developed a comprehensive marketing network covering major regions in China, including East, South, West, and North China[56]. - The company’s domestic sales decreased by 8.09% to CNY 481.20 million, while foreign sales increased by 15.80% to CNY 398.40 million[66]. Research and Development - Research and development expenses were 28,157,859.58 CNY, which is 3.20% of operating revenue, a decrease of 6.75% from the previous year[78]. - The company has a strong focus on R&D, mastering core technologies such as LED intelligent control and electromagnetic induction charging[52]. - The company plans to enhance product design and development in response to the growing demand for customized and high-end LED lighting products, focusing on smart home lighting applications[103]. Dividend and Shareholder Policies - The company plans to distribute a cash dividend of CNY 0.68 per 10 shares, totaling CNY 10,880,000 based on 160,000,000 shares[6]. - The company has established a profit distribution policy that requires a minimum cash dividend of 10% of the distributable profit when conditions are met[129]. - The company declared a cash dividend of 10,880,000.00, which accounted for 13.75% of the net profit attributable to ordinary shareholders[139]. - The company has not implemented cash dividends for the years 2017 and 2018 due to actual operating conditions[137]. Compliance and Governance - The company has committed to fulfilling the commitments disclosed in the prospectus, ensuring compliance with legal regulations[158]. - The actual controllers, Zhuo Chuguang and Guo Shaoyan, committed to not interfering with the company's management and not misappropriating company interests[157]. - The company will publicly explain any unfulfilled commitments in the prospectus at the shareholders' meeting and in designated publications by the China Securities Regulatory Commission[159]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% driven by new product launches and market expansion strategies[172]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[174]. - The company intends to increase production capacity over the next three years by improving production processes and establishing new manufacturing bases, enhancing the competitiveness of its LED lighting products[105].