Financial Performance - The company's revenue from the European and American markets decreased to RMB 26,164.55 million in 2020, a decline of 59.70% year-on-year from RMB 64,923.11 million[6]. - The company's operating revenue for 2020 was ¥399,686,012.70, a decrease of 52.70% compared to ¥845,061,468.13 in 2019[28]. - The net profit attributable to shareholders for 2020 was ¥88,126,585.11, down 55.09% from ¥196,248,550.04 in 2019[28]. - The net profit after deducting non-recurring gains and losses was ¥78,082,135.73, a decline of 59.13% compared to ¥191,027,203.11 in 2019[28]. - The net cash flow from operating activities was ¥55,752,517.53, a decrease of 66.80% from ¥167,950,816.68 in 2019[28]. - The basic earnings per share for 2020 were ¥1.1666, down 62.40% from ¥3.1030 in 2019[28]. - The weighted average return on net assets was 6.80%, a decrease of 27.65% from 34.45% in 2019[28]. - The gross profit margin for stage entertainment lighting equipment was 46.00%, reflecting a decrease of 2.19% compared to the previous year[76]. - Domestic sales amounted to CNY 110,384,960.06, a decrease of 14.45% year-on-year, while international sales were CNY 289,301,052.64, down 59.60% year-on-year[76]. Market Outlook - Despite the impact of COVID-19, the company believes that the demand for stage lighting equipment will gradually recover as the pandemic improves globally[6]. - The stage entertainment lighting equipment market in China is expected to recover gradually as the pandemic situation improves, with a strong long-term demand despite short-term uncertainties[121]. - The overall scale of China's performance market increased from 46.922 billion yuan in 2016 to 51.411 billion yuan in 2018, maintaining an annual growth rate of approximately 4%-5%[124]. - The demand for digital and intelligent lighting products is increasing, with a focus on safety, stability, and user-friendliness in stage lighting systems[127]. Business Strategy - The company is focused on improving profitability and responding to the challenges posed by the pandemic[6]. - The company is exploring market expansion opportunities and potential mergers and acquisitions to strengthen its business[6]. - The company plans to expand its production capacity and optimize product structure to meet market demands and enhance sustainable development capabilities[131]. - The company aims to increase R&D investment and strengthen external collaborations to enhance its technological capabilities and product development efficiency[132]. - The company plans to strengthen brand building and enhance the industry visibility of "TERBLY" and "AYRTON" through its listing opportunity[133]. - Internationally, the company will consolidate and further develop overseas ODM clients, while expanding OBM business through subsidiaries in France and Germany[133]. Research and Development - The company continues to invest in new product development and technology to enhance its market position[6]. - The company invested CNY 31,111,547.39 in R&D, representing 7.78% of its operating revenue in 2020, an increase from 5.02% in 2019[91]. - The number of R&D personnel increased to 131, accounting for 16.38% of the total workforce, up from 12.68% in 2019[91]. - The company launched the SMART series products and developed ultraviolet disinfection lamps, which received CE and ETL certifications, expanding its product offerings[67][70]. Cash Dividend Policy - The company plans to distribute a cash dividend of RMB 4 per 10 shares to all shareholders, based on a total of 84,327,000 shares[10]. - The cash dividend represents 38.28% of the net profit attributable to ordinary shareholders, which was RMB 88,126,585.11 for the year 2020[155]. - The cash dividend distribution plan is subject to approval at the 2020 annual general meeting[155]. - The company has maintained a consistent cash dividend policy over the past three years, with no dividends distributed in 2018 and 2019[155]. Financial Stability - The company has not reported any major adverse changes in other key financial indicators, indicating overall financial stability[6]. - The company has not encountered any issues with the disclosure of the use of raised funds, ensuring timely and accurate reporting[117]. - The company has not reported any changes in the projects funded by the raised capital during the reporting period[118]. - The company has not sold any significant assets or equity during the reporting period[119][120]. Innovation and Technology - The company holds 488 valid patents, including 50 invention patents, 264 utility model patents, and 174 design patents as of December 31, 2020[56]. - The company has developed multiple proprietary technologies in stage lighting equipment and has participated in significant events such as the 2008 Beijing Olympics and the 2010 Shanghai Expo[42]. - The company is recognized as a key enterprise in cultural exports and has received various industry accolades, enhancing its market position[43]. Operational Efficiency - The company aims to improve operational efficiency, targeting a 5% reduction in production costs by optimizing supply chain management[176]. - The company has established a strong management system and supply chain, enabling it to quickly adapt to customer needs and market demands[61]. - The company emphasizes quality control in its outsourcing processing, implementing strict supplier admission criteria and ongoing management measures[45]. Risk Management - The company recognizes the risk of core technical personnel turnover and potential leakage of core technologies, which could adversely affect its competitive edge[147]. - The company is actively monitoring the ongoing impact of the COVID-19 pandemic on large cultural events, which could adversely affect the demand for performance equipment[138].

Financial Performance - The company's revenue from the European and American markets decreased to RMB 26,164.55 million in 2020, a decline of 59.70% year-on-year[6] - The company's operating revenue for 2020 was ¥399,686,012.70, a decrease of 52.70% compared to ¥845,061,468.13 in 2019[27] - The net profit attributable to shareholders for 2020 was ¥88,126,585.11, down 55.09% from ¥196,248,550.04 in 2019[27] - The net cash flow from operating activities in 2020 was ¥55,752,517.53, a decline of 66.80% compared to ¥167,950,816.68 in 2019[27] - Total revenue for 2020 was approximately ¥399.69 million, a decrease of 52.70% compared to ¥845.06 million in 2019[71] - The revenue from stage entertainment lighting equipment was approximately ¥327.21 million, representing 81.87% of total revenue, down 55.25% from ¥731.13 million in 2019[74] - Domestic sales accounted for ¥110.38 million, which is 27.62% of total revenue, a decline of 14.45% from ¥129.04 million in 2019[74] - Foreign sales were approximately ¥289.30 million, making up 72.38% of total revenue, down 59.60% from ¥716.03 million in 2019[74] - The gross profit margin for stage entertainment lighting equipment was 48.15%, down 1.54% from the previous year[74] - The company reported a net profit of ¥43,983,006.33 in Q1 2020, with a significant drop in revenue in subsequent quarters[30] Market Conditions - Despite the impact of the COVID-19 pandemic, the company maintains stable core competitiveness and does not foresee significant risks to its ongoing operations[6] - The company believes that the demand for stage lighting equipment will gradually recover as the pandemic situation improves globally[6] - The stage entertainment lighting equipment market is expected to recover gradually post-COVID-19, with long-term demand remaining strong despite short-term uncertainties[121] - The overall market for stage entertainment lighting equipment in China is expected to stabilize and expand, driven by increasing disposable income and consumption upgrades[122] - The architectural lighting equipment market is projected to grow due to urbanization and the increasing demand for energy-efficient lighting solutions[124] Research and Development - The company has invested heavily in R&D, with over 700 independent intellectual property rights in various technical fields related to stage lighting equipment[65] - The company is focusing on increasing its R&D investment and enhancing collaboration to improve its core technology and product innovation capabilities[130] - The company is committed to developing new products and technologies, with plans to upgrade its research and testing facilities to boost product development efficiency[132] - Research and development expenses for 2020 were ¥31,111,547.39, a decrease of 26.60% compared to 2019, primarily due to reduced market demand for new products[86] - The R&D investment as a percentage of operating revenue increased to 7.78% in 2020 from 5.02% in 2019[88] Cash Flow and Dividends - The company plans to distribute a cash dividend of RMB 4 per 10 shares to all shareholders, based on a total of 84,327,000 shares[10] - The cash dividend for 2020 accounted for 38.28% of the net profit attributable to ordinary shareholders, amounting to RMB 88,126,585.11[153] - The company has a cash dividend policy that complies with relevant laws and regulations, ensuring the protection of minority shareholders' rights[152] - The company has not proposed any stock bonus shares for the reporting period, maintaining a focus on cash dividends[153] Assets and Liabilities - The total assets at the end of 2020 amounted to ¥1,842,212,721.42, an increase of 134.03% from ¥787,178,435.13 at the end of 2019[27] - Cash and cash equivalents rose by 281.93% to ¥1,404,956,388.42, primarily due to funds raised after the company's listing[49] - Accounts receivable increased by 1,605.70% to ¥9,905,416.85, primarily due to an increase in bank and commercial acceptance bills received[49] - Inventory decreased to ¥136,630,781.43, making up 7.42% of total assets, down 11.74% year-over-year[96] - Fixed assets were valued at ¥59,459,873.17, representing 3.23% of total assets, a decline of 4.97% compared to the start of the year[96] Risk Management - The company recognizes the ongoing risks posed by the COVID-19 pandemic, which could impact the demand for entertainment equipment and overall profitability[135] - The company is aware of the risks associated with international trade tensions, particularly the impact of tariffs on its exports to the U.S., which could adversely affect its business operations[136] - The company has established a risk management system for foreign exchange hedging to mitigate the impact of currency fluctuations on profits[141] - The company relies on external manufacturers for certain production processes, which poses risks if these suppliers face capacity issues or operational difficulties[142] Corporate Governance - The company’s profit distribution plan for 2020 is subject to approval at the annual general meeting, ensuring compliance with corporate governance standards[156] - The company has fulfilled the share lock-up commitment made by major shareholders, which was effective for 36 months from the date of the IPO, starting from May 20, 2020[157] - The management team has made long-term commitments to ensure transparency and accountability in their operations[196] - The company is focused on maintaining compliance with the regulations set forth by the China Securities Regulatory Commission and the Shenzhen Stock Exchange[184]

Financial Performance - Operating revenue for the reporting period was ¥45,105,904.67, down 78.65% compared to the same period last year[8]. - Net profit attributable to shareholders of the listed company was ¥1,571,594.94, a decrease of 96.74% year-on-year[8]. - Basic earnings per share were ¥0.0186, down 97.56% year-on-year[8]. - The total comprehensive income for the current period is ¥65,767,198.16, reflecting a decrease of 50.1% compared to ¥131,935,706.03 in the previous period[80]. - The net profit for the current period is ¥67,547,642.28, a decline of 55.7% from ¥152,219,541.74 in the previous period[70]. - Total operating revenue for the current period is CNY 45,105,904.67, a decrease of 78.7% compared to CNY 211,314,407.45 in the previous period[49]. - The company reported a financial expense of CNY -21,765,921.59, an increase from CNY -12,411,152.58 in the previous period[70]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,813,735,564.03, an increase of 130.41% compared to the end of the previous year[8]. - The total assets increased significantly, with current assets totaling ¥1,652,562,319.21, up from ¥626,666,634.54 in the previous year[33]. - The total liabilities decreased from ¥100,114,060.15 to ¥61,778,728.86, a reduction of about 38%[39]. - Current liabilities decreased from ¥94,016,719.46 to ¥57,037,323.09, a reduction of about 39%[39]. - The total equity attributable to shareholders increased to ¥1,734,157,604.89 from ¥667,628,335.40, reflecting a growth of around 160%[42]. - The company's cash and cash equivalents increased by 280.52% to ¥1,399,756,953.42, primarily due to fundraising in May 2020[20]. Cash Flow - The net cash flow from operating activities was ¥49,283,418.99, an increase of 45.92% compared to the previous year[8]. - Cash flow from operating activities is ¥44,114,223.46, down 57.0% from ¥102,789,220.94 in the previous period[83]. - Total cash inflow from financing activities is ¥1,008,113,315.51, significantly higher than ¥6,822,292.88 in the previous period[85]. - The company received $51.05 million in cash related to other operating activities, a significant increase from $10.43 million in the previous period[89]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 19,075[12]. - Major shareholder Jiang Weikai holds 36.70% of the shares, totaling 30,943,875 shares[13]. Government Support - The company received government subsidies amounting to ¥4,618,564.90 during the reporting period[8]. Research and Development - Research and development expenses for the current period are CNY 7,365,590.68, a decrease of 25.0% from CNY 9,818,320.41 in the previous period[52]. - Research and development expenses for the current period are ¥21,336,648.23, down 21.3% from ¥27,098,840.97 in the previous period[77]. Other Financial Metrics - The weighted average return on net assets was 0.09%, a decrease of 7.96% compared to the previous year[8]. - The company reported an increase in undistributed profits to ¥483,768,660.13 from ¥417,021,708.54, an increase of about 16%[42]. - The company recorded a fair value change loss of CNY -228,753.35 in the current period, compared to a gain of CNY 304,314.43 in the previous period[63].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥257,245,233.19, a decrease of 40.17% compared to ¥429,967,151.64 in the same period last year[25]. - The net profit attributable to shareholders of the listed company was ¥65,175,356.65, down 36.09% from ¥101,974,471.58 in the previous year[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥62,090,629.82, a decrease of 38.15% compared to ¥100,395,259.97 in the same period last year[25]. - The net profit for the period was ¥65,684,803.78, down 36.83% year-on-year[58]. - The company's total revenue for the reporting period was CNY 257,245,233.19, a decrease of 40.17% compared to CNY 429,967,151.64 in the same period last year, primarily due to reduced market demand caused by the pandemic[63]. - The net cash flow from operating activities was -5,169,195.53 CNY, a decrease of 107.49% compared to the previous period[28]. - Basic and diluted earnings per share decreased by 39.45%, from 1.6124 CNY to 0.9763 CNY[28]. - The weighted average return on equity dropped to 7.52%, down 11.99 percentage points from 19.51%[28]. - The company reported a decrease in other receivables to CNY 2,521,492.24 from CNY 4,838,420.70, indicating a decline of approximately 47.9%[160]. - The total comprehensive income for the first half of 2020 was CNY 62,642,097.03, down from CNY 89,877,213.39 in the first half of 2019[187]. Capital and Shareholder Information - The company's registered capital increased from ¥63,245,000 to ¥84,327,000, reflecting a change in company type to a listed company[24]. - The company issued 21,082,000 shares of RMB ordinary stock, increasing total shares from 63,245,000 to 84,327,000[135]. - The total number of ordinary shareholders at the end of the reporting period was 25,800[139]. - The largest shareholder, Jiang Weikai, holds 36.70% of the shares, totaling 30,943,875 shares[139]. - The company's stock was listed on the Shenzhen Stock Exchange on May 20, 2020, at a price of 52.09 RMB per share[138]. - The total number of shares with unlimited sale conditions is 21,082,000, representing 25.00% of total shares[135]. Assets and Liabilities - Total assets increased by 135.27%, reaching 1,851,958,646.49 CNY compared to 787,178,435.13 CNY at the end of the previous year[28]. - Net assets attributable to shareholders rose by 159.20%, from 667,628,335.40 CNY to 1,730,495,809.73 CNY[28]. - The company's total assets increased to CNY 1,807,892,559.02, up from CNY 743,613,471.13 year-over-year[176]. - Total liabilities rose to CNY 106,394,805.95, compared to CNY 102,471,160.19 in the previous year[176]. - The equity attributable to shareholders increased significantly to CNY 1,730,495,809.73 from CNY 667,628,335.40, representing a growth of about 159.0%[165]. Research and Development - The company has invested CNY 17,038,840.08 in R&D during the reporting period, a decrease of 19.08% compared to CNY 21,055,541.02 in the previous year[63]. - The company has a total of 438 domestic patents and 47 overseas patents, showcasing its commitment to technological innovation[49]. - The company holds a total of 438 domestic patents, including 44 invention patents, 226 utility model patents, and 168 design patents, as well as 47 overseas patents and 254 software copyrights[60]. - The company reported a decrease in research and development expenses to CNY 14,793,131.03 from CNY 18,814,042.69, reflecting a reduction of 21.4%[184]. Market and Strategic Focus - The company continues to focus on its core business and aims to enhance its market position despite the challenges faced[6]. - The company has established a stable procurement model combining order-based and risk-based purchasing to ensure production continuity[38]. - The company has closely monitored the global pandemic trends and is preparing for market recovery by investing in new technologies and products[62]. - The company aims to expand its domestic market presence by promoting intelligent building lighting products and undertaking more cultural tourism project contracts[84]. - The company is actively developing and marketing UV disinfection lamps to meet pandemic-related demands and improve profitability[84]. Dividend and Shareholder Communication - The company plans not to distribute cash dividends or bonus shares for the reporting period[6]. - The company has not conducted any investor meetings, communications, or interviews during the reporting period[93]. - The semi-annual financial report has not been audited[98]. - The company has not faced any media scrutiny during the reporting period[105]. Operational Challenges - The company faced significant uncertainties in achieving its future strategic goals due to market conditions[6]. - The company has established a pandemic prevention and control task force to mitigate the impact of COVID-19 on its operations[84]. - The company has faced a 25% tariff on products exported to the U.S. due to ongoing trade tensions, which could impact sales and profitability[85]. - The company is focusing on enhancing its market competitiveness and negotiating with clients to share tariff costs[86].