Financial Performance - The company's operating revenue for Q3 2022 was ¥31,929,496.20, a decrease of 43.25% compared to the same period last year[5] - The net profit attributable to shareholders was ¥274,808.23, down 98.05% year-on-year, while the net profit after deducting non-recurring gains and losses was ¥260,591.45, a decrease of 97.58%[5] - The company experienced a 32.59% decline in total operating income for the first nine months of 2022, totaling ¥97,604,597.44, attributed to operational disruptions caused by the pandemic[8] - Total operating revenue for Q3 2022 was ¥97,604,597.44, a decrease of 32.5% compared to ¥144,797,343.52 in the same period last year[20] - Net profit for Q3 2022 was a loss of ¥1,618,793.67, compared to a profit of ¥57,454,962.58 in Q3 2021, representing a significant decline[21] - Basic and diluted earnings per share for Q3 2022 were both -¥0.0270, compared to ¥1.0446 in the same period last year[22] Cash Flow - The cash flow from operating activities showed a net outflow of ¥33,982,164.68, representing a decline of 141.54% compared to the same period last year[9] - Cash inflow from operating activities was ¥48,070,989.94, a decrease of 72% from ¥171,961,025.38 in Q3 2021[24] - Cash received from sales of goods and services was ¥32,242,387.92, down 79.4% from ¥156,013,101.89 year-over-year[24] - The net cash flow from operating activities was -33,982,164.68, a significant decrease compared to 81,797,152.97 in the previous period[25] - The net cash flow from investment activities was -101,509,598.77, improving from -164,700,119.04 in the previous period[25] - The total cash inflow from financing activities was 875,052,888.70, while the cash outflow was 62,794.60, resulting in a net cash flow of -62,794.60[25] Assets and Liabilities - Total assets at the end of Q3 2022 were ¥1,522,650,776.60, an increase of 0.75% from the end of the previous year[5] - The total liabilities increased to ¥178,710,116.21 from ¥157,828,138.17, reflecting a rise of 13.3%[21] - Total equity attributable to shareholders decreased to ¥1,343,940,660.39 from ¥1,353,517,910.40, a decline of 0.7%[21] - The company reported a total current asset of 1,366,190,598.12 CNY as of September 30, 2022, compared to 1,354,191,326.66 CNY at the beginning of the year, reflecting a slight increase[16] - The total assets amount to 1,522,650,776.60 CNY as of September 30, 2022, up from 1,511,346,048.57 CNY at the start of the year[17] Receivables and Impairments - The company reported a significant increase in other receivables, up 1195.17% to ¥513,275.00, mainly due to increased project bidding deposits[8] - The company recorded a credit impairment loss of ¥29,554,365.41, a 645.26% increase, due to longer aging of accounts receivable[8] - Accounts receivable increased from 283,358,311.43 CNY at the beginning of the year to 358,440,285.09 CNY by September 30, 2022[16] Shareholder Information - Total number of common shareholders at the end of the reporting period is 10,405[11] - The largest shareholder, Rao Danni, holds 54.91% of shares, totaling 32,944,500 shares[11] - The company has a total of 45,000,000 restricted shares, with 1,428,750 shares released during the period[14] - The company plans to release restricted shares for major shareholders on April 1, 2024, including 32,944,500 shares held by Rao Danni[14] Expenses - Financial expenses increased by 688.37% to -¥9,490,364.35, primarily due to interest received from term deposits[8] - Research and development expenses for Q3 2022 were ¥10,154,765.89, a decrease of 26.5% compared to ¥13,821,217.80 in the previous year[21] - The company paid 22,327,278.40 in employee-related cash payments, an increase from 18,812,419.75 in the previous period[25] - The cash paid for taxes was 8,999,207.63, down from 22,853,230.73 in the previous period[25] Inventory - Inventory increased from 65,012,999.93 CNY at the beginning of the year to 79,002,144.70 CNY by September 30, 2022[17] Audit Status - The third-quarter report was not audited[27]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥65,675,101.24, a decrease of 25.82% compared to ¥88,537,731.05 in the same period last year[18]. - The net profit attributable to shareholders was a loss of ¥1,893,601.90, representing a decline of 104.37% from a profit of ¥43,328,991.36 in the previous year[18]. - The net cash flow from operating activities was negative at ¥20,599,407.23, a significant drop of 119.89% compared to ¥103,559,090.84 in the same period last year[18]. - Basic and diluted earnings per share were both reported at -¥0.0316, down 103.83% from ¥0.8253 in the previous year[18]. - The total assets at the end of the reporting period were ¥1,505,023,103.24, a slight decrease of 0.42% from ¥1,511,346,048.57 at the end of the previous year[18]. - The net profit for the reporting period was -¥1,893,601.90, a significant decline of 104.37% from ¥43,328,991.36 in the same period last year[44]. - The total profit for the first half of 2022 was -¥2,585,947.32, a decline from ¥51,241,757.39 in the first half of 2021[144]. - The company reported a net profit margin of approximately 30.5% for the first half of 2022, compared to 44.5% in the same period of 2021[142]. Revenue and Cost Analysis - The company's operating revenue for the reporting period was ¥65,675,101.24, a decrease of 25.82% compared to ¥88,537,731.05 in the same period last year, primarily due to pandemic-related disruptions in operations and logistics[43]. - Total operating costs for the first half of 2022 were CNY 45,489,058.39, down from CNY 49,324,678.93 in the same period last year[142]. - The gross profit margin for the transport helicopter display control equipment was 44.36%, down 27.05% year-on-year, while the gross profit margin for general and other helicopter display control equipment was 56.67%, a decrease of 4.86%[47]. Investment and Cash Flow - The company reported a significant decrease in cash flow from operating activities, with a net cash flow of -¥20,599,407.23, down 119.89% from ¥103,559,090.84 in the previous year[44]. - Total cash inflow from investment activities was ¥20,203,547.76, down from ¥100,555,609.31 in the first half of 2021, representing a decrease of about 80%[151]. - The net cash flow from investment activities was -¥79,741,753.85, worsening from -¥64,762,013.38 year-over-year[151]. - Cash and cash equivalents at the end of the period decreased to ¥824,169,126.28 from ¥935,004,525.34, reflecting a decline of approximately 11.87%[150]. Research and Development - Research and development investment was ¥11,408,530.55, a slight decrease of 1.73% from ¥11,609,205.87 in the previous year[44]. - The company is committed to enhancing its R&D capabilities to mitigate risks associated with new product development and ensure alignment with military standards[75]. - R&D investments are crucial for maintaining technological competitiveness, with a focus on optimizing processes and enhancing innovation capabilities[76]. Market Position and Strategy - The company specializes in the research, production, and sales of helicopter integrated display control equipment, primarily focusing on military applications[26]. - The company has established a strong market position, supplying thousands of units of multifunction display control equipment to military forces, capturing a significant market share in the domestic military helicopter sector[37]. - The company plans to focus on expanding its market presence and investing in new technologies to drive future growth[142]. - The company aims to enhance its market expansion strategies in the upcoming quarters[169]. Risk Factors - The company has acknowledged various risk factors in its operations, which are detailed in the report[3]. - The company faces a risk of a 50% decline in military product pricing due to uncertainties in military pricing adjustments and cost control capabilities[71]. - Future earnings are at risk of a 50% decline due to factors such as macroeconomic conditions, market environment, and competition[72]. - The company has a high customer concentration risk, primarily relying on large state-owned military enterprises, which could impact revenue if major customers experience fluctuations[73]. Shareholder Information - The total number of shares before the change was 60,000,000, with 100% ownership, and after the change, it remains 60,000,000 shares[116]. - The largest shareholder, Rao Danni, holds 54.91% of shares, totaling 32,944,500 shares[121]. - The company has not reported any share buyback progress or other significant changes in shareholder structure[118]. Environmental and Social Responsibility - The company did not receive any administrative penalties for environmental issues during the reporting period[87]. - The company has implemented measures to reduce carbon emissions, including the establishment of an OA system to enhance work efficiency and promote paperless operations[87]. - The company emphasizes employee rights protection and has implemented training programs to enhance employee skills and career development opportunities[90]. Financial Reporting and Compliance - The financial report for the first half of 2022 has not been audited[133]. - The company adheres to the enterprise accounting standards, ensuring that its financial statements reflect a true and complete picture of its financial status as of June 30, 2022[182]. - The company has assessed its ability to continue as a going concern for the next 12 months and expects to have sufficient resources[180].

Financial Performance - The company's revenue for Q1 2022 was ¥33,540,079.98, a decrease of 22.93% compared to ¥43,519,350.65 in the same period last year[3] - Net profit attributable to shareholders was ¥687,418.45, down 96.65% from ¥20,539,694.89 year-on-year[3] - Basic earnings per share dropped to ¥0.0115, a decrease of 97.48% from ¥0.4564 in the same period last year[3] - Total operating revenue decreased to ¥33,540,079.98 from ¥43,519,350.65, a decline of approximately 23% year-over-year[17] - Operating profit decreased to ¥1,143,801.85 from ¥23,951,222.06, a decline of about 95.23%[18] - Net profit fell significantly to ¥687,418.45 from ¥20,539,694.89, a decrease of approximately 96.66% year-over-year[18] Cash Flow and Assets - The net cash flow from operating activities was -¥13,769,955.00, a decline of 122.38% compared to ¥61,525,241.12 in the previous year[3] - Cash received from operating activities decreased by 89.47% to ¥10,169,436.92, reflecting a significant drop in sales collections compared to the previous year[7] - Cash flow from operating activities turned negative at -¥13,769,955.00 compared to a positive ¥61,525,241.12 in the previous period[22] - The company's cash and cash equivalents decreased to ¥824,639,197.77 from ¥936,113,545.61 at the beginning of the year, a decline of approximately 11.93%[13] - Cash and cash equivalents at the end of the period decreased to ¥824,639,197.77 from ¥976,917,562.39, a drop of approximately 15.5%[23] - Total assets at the end of the reporting period were ¥1,506,879,237.81, a slight decrease of 0.30% from ¥1,511,346,048.57 at the end of the previous year[3] - Accounts receivable increased to ¥313,113,911.87 from ¥283,358,311.43, representing an increase of about 10.52%[13] - Inventory decreased to ¥59,418,423.75 from ¥65,012,999.93, a reduction of approximately 8.93%[13] - Total liabilities decreased to ¥151,226,727.74 from ¥157,828,138.17, a decline of approximately 4.25%[15] - The company's total equity increased to ¥1,355,652,510.07 from ¥1,353,517,910.40, an increase of about 0.16%[15] Expenses - Total operating costs increased to ¥24,408,370.06 from ¥23,773,699.04, representing an increase of about 2.67%[17] - Research and development expenses decreased to ¥1,806,230.08 from ¥2,359,868.12, a reduction of about 23.4%[17] - Sales expenses decreased by 55.31% to ¥920,399.51, primarily due to reduced sales activities impacted by the pandemic[6] - Sales expenses significantly reduced to ¥920,399.51 from ¥2,059,721.38, a decrease of approximately 55.4%[17] - Management expenses increased by 80.25% to ¥6,856,494.38, attributed to depreciation costs from a newly renovated office building[6] Impairment and Provisions - The company recorded a 313.96% increase in credit impairment losses, amounting to -¥7,202,768.52, due to increased provisions for bad debts[7] Shareholder Information - Total number of common shareholders at the end of the reporting period is 12,085[9] - The largest shareholder, Rao Danni, holds 54.91% of shares, totaling 32,944,500 shares[9] Other Information - The company reported a significant increase in other current assets by 1184.93%, reaching ¥100,965,800.49 due to short-term bank investments not yet matured[6] - The company reported a significant increase in long-term prepaid expenses to ¥544,991.27 from ¥134,265.63, an increase of approximately 305.06%[14] - The company has not disclosed any new product developments or market expansion strategies in the current report[11] - The company did not conduct any audited financial review for the first quarter report[24]

Financial Performance - The company's operating revenue for 2021 was ¥190,958,988.16, a decrease of 10.65% compared to ¥213,710,100.39 in 2020[18] - The net profit attributable to shareholders for 2021 was ¥67,866,044.18, down 30.49% from ¥97,631,961.45 in 2020[18] - The net profit after deducting non-recurring gains and losses was ¥53,731,951.31, a decline of 38.31% from ¥87,099,710.54 in 2020[18] - The basic earnings per share for 2021 was ¥1.2065, a decrease of 44.39% compared to ¥2.1696 in 2020[18] - The total assets at the end of 2021 reached ¥1,511,346,048.57, an increase of 162.98% from ¥574,697,885.00 at the end of 2020[18] - The net assets attributable to shareholders at the end of 2021 were ¥1,353,517,910.40, up 207.61% from ¥440,005,451.91 at the end of 2020[18] - The net cash flow from operating activities for 2021 was ¥103,093,421.13, a decrease of 12.02% from ¥117,173,018.35 in 2020[18] - The weighted average return on equity for 2021 was 6.12%, down 19.02% from 25.14% in 2020[18] Revenue and Profit Trends - The company's total revenue for the first quarter was approximately CNY 43.52 million, with a peak in the third quarter at CNY 56.26 million, followed by a decline to CNY 46.16 million in the fourth quarter[20] - The net profit attributable to shareholders was CNY 20.54 million in the first quarter, decreasing to CNY 10.41 million in the fourth quarter, indicating a significant decline in profitability[20] - The net cash flow from operating activities showed a notable fluctuation, with a high of CNY 61.53 million in the first quarter and a negative cash flow of CNY -21.76 million in the third quarter[20] - The main product, helicopter multifunction display control equipment, accounted for 34.41% of total revenue, with a significant decline of 41.61% compared to 2020[54] - Technical service revenue increased by 99.67% year-on-year, reaching CNY 24.81 million, with a gross margin of 48.20%[57] - The company’s gross margin for aviation products and services was 59.55%, down 8.43% from the previous year[56] Market Position and Business Focus - The main business focus remains on the research, production, and sales of helicopter integrated display control equipment, which is crucial for military applications[34] - The company operates in the aerospace and defense sector, which is currently in an upward development phase, influenced by international military and political environments[32] - The competitive landscape is evolving with the entry of private enterprises into the military supply chain, although the industry remains characterized by high entry barriers[33] - The company has achieved a significant market share in military helicopter display control equipment, becoming the main supplier in China, with thousands of units deployed[45] - The company aims to consolidate its position in the domestic helicopter market, having participated in the development of multiple military helicopter models, with a significant market share in onboard multifunctional display control equipment[89] Risks and Challenges - The company acknowledges risks related to military product pricing, customer concentration, and uncertainties in achieving 2022 operational goals[5] - The company faces risks related to military product pricing adjustments, which could potentially lead to a 50% decline in annual performance if cost control does not meet expectations[93] - The company is exposed to risks from fluctuations in operating performance due to macroeconomic factors, market conditions, and competition, with a potential 50% decline in annual performance under adverse conditions[93] - The company has a high customer concentration risk, primarily serving large state-owned military enterprises, which could impact revenue if major clients experience operational changes[94] - The company faces risks in new product development, as military products require lengthy approval processes, and failure to meet client specifications could hinder sales[95] Research and Development - The company continues to focus on market-oriented innovation strategies, increasing R&D investment to meet user demands[50] - The company’s R&D investment reached ¥36,240,877.76, accounting for 18.98% of total revenue, a significant increase from 11.06% in the previous year[67] - The number of R&D personnel increased by 6.67% to 48, although their proportion of total employees decreased to 39.34%[67] - The company plans to enhance its R&D capabilities and product competitiveness through ongoing projects, which are expected to positively impact future growth[64] Corporate Governance - The company has established a governance structure that includes a board of directors, supervisory board, and management team, ensuring checks and balances among different levels[99] - The board consists of 7 members, including 3 independent directors, complying with relevant legal requirements[100] - The company has maintained independence from its controlling shareholders in terms of assets, operations, and financial management, with no guarantees provided to them[104] - The company has established independent financial and human resource departments, ensuring compliance with accounting standards and effective personnel management[105] - The company has adhered to all relevant laws and regulations regarding corporate governance, with no significant discrepancies identified[103] Employee and Social Responsibility - The company emphasizes employee rights protection and has implemented various measures to enhance employee welfare and training[156] - The company conducted various training programs to enhance employee skills and organizational efficiency, focusing on practical and targeted training[137] - During the reporting period, the company donated a total of 150,000 RMB to support social welfare activities[158] - The company participated in charitable activities, emphasizing its commitment to corporate social responsibility[158] Financial Management and Fundraising - The total amount of cash and cash equivalents increased by 10,420.31% to ¥884,003,045.83, reflecting successful fundraising efforts[70] - The total amount of funds raised by the company through its initial public offering (IPO) was RMB 925.8 million, with a net amount of RMB 857.73 million after deducting issuance costs[80] - The company has committed to invest a total of RMB 40.03 million in the new generation avionics system equipment industrialization project, with 35.46% of the investment completed by the end of the reporting period[82] - The company has established a three-party supervision agreement with its sponsor and the bank holding the raised funds[80] Shareholder Relations and Remuneration - The company implemented a cash dividend policy, distributing 2.05 RMB per 10 shares, totaling 12,300,000 RMB, which represents 5.23% of the total distributable profit[140] - The total distributable profit as of December 31, 2021, was 235,248,114.07 RMB, after accounting for a net profit of 66,758,923.75 RMB and a legal surplus reserve of 6,675,892.38 RMB[142] - The total remuneration for directors, supervisors, and senior management amounted to CNY 5.19 million in the reporting period[124] - The company has a structured remuneration policy based on operational performance and management responsibilities[123] Compliance and Internal Control - The internal control audit report confirmed that the company maintained effective internal controls related to financial statements as of December 31, 2021[152] - The company has not been subject to any environmental penalties during the reporting period and adheres to environmental protection laws[155] - The company has strengthened internal control training and compliance awareness among management and employees to enhance risk prevention and compliance operations[147]

恒宇信通航空装备（北京）股份有限公司 2021 年第三季度报告 证券代码：300965 证券简称：恒宇信通 公告编号：2021-038 恒宇信通航空装备（北京）股份有限公司 2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不 存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度 报告中财务信息的真实、准确、完整。 3.第三季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 本报告期比上年同期增 | 年初至报告期末 | 年初至报告期末比上年 | | --- | --- | --- | --- | --- | | | | 减 | | 同期增减 | | 营业收入（元） | 56,259,612.47 | 73.73% | 144,797,343. ...

Financial Performance - The company's operating revenue for the first half of 2021 was ¥88,537,731.05, a decrease of 16.29% compared to ¥105,773,459.45 in the same period last year[21]. - The net profit attributable to shareholders was ¥43,328,991.36, down 20.23% from ¥54,319,061.90 year-on-year[21]. - The net profit after deducting non-recurring gains and losses was ¥33,605,346.31, a decline of 33.63% compared to ¥50,630,259.35 in the previous year[21]. - The net cash flow from operating activities was ¥103,559,090.84, which is 16.73% lower than ¥124,372,311.75 in the same period last year[21]. - Basic earnings per share decreased by 31.63% to ¥0.8253 from ¥1.2071 in the previous year[21]. - The total profit for the first half of 2021 was ¥51,241,757.39, compared to ¥63,514,363.72 in the first half of 2020, reflecting a decline of approximately 19.3%[157]. - The company's operating profit for the first half of 2021 was ¥43,928,192.01, down from ¥62,902,711.73 in the first half of 2020, a decrease of about 30.2%[157]. - The total comprehensive income for the first half of 2021 was ¥43,328,991.36, down from ¥54,319,061.90 in the first half of 2020, indicating a decrease of approximately 20.3%[157]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,488,599,193.32, an increase of 159.02% compared to ¥574,697,885.00 at the end of the previous year[21]. - The total liabilities amounted to CNY 159,690,323.38, an increase from CNY 134,386,940.87, reflecting a rise of 18.8%[153]. - Owner's equity totaled CNY 1,321,532,736.32, significantly up from CNY 437,024,453.26, marking an increase of 202.5%[153]. - The company's total current assets as of June 30, 2021, amount to CNY 1,362,521,768.91, a significant increase from CNY 483,399,858.17 at the end of 2020[146]. Cash Flow - The cash flow from operating activities for the first half of 2021 was ¥151,682,521.89, compared to ¥173,308,762.26 in the same period of 2020, reflecting a decrease of about 12.4%[162]. - The net cash flow from investment activities was -¥64,762,013.38, worsening from -¥37,353,487.56 year-on-year[165]. - Cash inflow from financing activities reached ¥875,052,888.70, with a net cash flow of ¥844,096,948.10, compared to a net outflow of -¥59,158,990.05 in the previous year[165]. - The total cash and cash equivalents at the end of the period amounted to ¥935,004,525.34, significantly higher than ¥71,567,513.68 at the end of the previous year[165]. Research and Development - Research and development investment increased by 13.11% to ¥11,609,205.87, reflecting the company's commitment to innovation[52]. - The company aims to attract high-end talent and implement equity incentives to improve its research and development capabilities[48]. - The company emphasizes the importance of R&D for military products, which have long development cycles, and aims to enhance its product line to ensure future sales growth[79]. - Research and development expenses for the first half of 2021 were ¥5,446,718.17, compared to ¥8,077,970.89 in the same period of 2020, showing a reduction of approximately 32.3%[159]. Business Operations - The main business of the company focuses on the research, production, and sales of helicopter integrated display control equipment, with the primary product being airborne multifunction display control equipment[28]. - The company has developed a series of multifunction display control equipment for transport helicopters, which are now in service with various military units[32]. - The company’s multifunction display control equipment for general helicopters has been designed to meet diverse operational tasks, enhancing operational efficiency and reducing costs[33]. - The company follows a direct sales model, primarily targeting military clients, ensuring high customer concentration and clear procurement processes[41]. Equity and Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[7]. - The equity incentive plan implemented this period incurred expenses of ¥1,851,610.98, accounting for 4.27% of the company's net profit of ¥43,328,991.36[90]. - The company's shareholding structure includes 45,000,000 restricted shares, with 32,944,500 shares set to be released on April 1, 2024[128]. - The largest shareholder, Rao Danni, holds 54.91% of the shares, totaling 32,944,500 shares[132]. Risks and Challenges - The company faces a risk of a 50% decline in performance due to factors such as macroeconomic conditions and competition, which could impact main business income and net profit[76]. - The company has a high customer concentration risk, primarily serving large state-owned military enterprises, which could affect revenue if these customers experience fluctuations[77]. - Changes in military product pricing regulations could impact the company's financial performance, necessitating close monitoring of pricing policies[82]. - The company has a significant amount of accounts receivable, which poses a risk of cash flow tightness if a large portion becomes uncollectible[81]. Compliance and Governance - The report indicates that all board members attended the meeting to review the report, ensuring accountability for the accuracy and completeness of the financial statements[5]. - The company has adhered to legal operations and improved its governance structure, ensuring the protection of employee rights and interests[95]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[94]. - The semi-annual financial report has not been audited[103].

Financial Performance - The company's operating revenue for Q1 2021 was ¥43,519,350.65, representing a 7.68% increase compared to ¥40,417,134.75 in the same period last year[8] - The net profit attributable to shareholders was ¥20,539,694.89, a 1.74% increase from ¥20,188,570.89 year-on-year[8] - The net cash flow from operating activities surged by 80.16% to ¥61,525,241.12, up from ¥34,151,075.09 in the previous year[8] - The company reported a significant increase in cash and cash equivalents, reaching ¥976,917,562.39, a 1774.70% increase compared to the previous year due to funds raised from the IPO[17] - The company's revenue for the reporting period was ¥43,519,400, representing a 7.68% increase year-over-year, while net profit attributable to shareholders was ¥20,539,700, up 1.74%[19] - The company experienced a 163.22% increase in selling expenses, totaling ¥2,059,721.38, as sales activities normalized after pandemic-related reductions[17] - Cash received from sales of goods and services increased by 52.99% to ¥96,603,886.89, attributed to improved collection of receivables[17] - The company reported a 200.88% increase in cash paid for purchasing goods and services, amounting to ¥9,230,634.79, reflecting higher raw material procurement costs[18] - The company reported a net credit impairment loss of CNY 3,366,354.22, compared to CNY 1,530,744.98 in the previous period[40] - The company reported a credit impairment loss of CNY 3,258,654.22, compared to CNY 1,530,744.98 in the previous period[45] - The total comprehensive income for Q1 2021 was CNY 20,866,368.77, an increase from CNY 20,202,188.02 in the same period last year[46] Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,466,726,307.92, marking a 155.22% increase from ¥574,697,885.00 at the end of the previous year[8] - The total assets as of January 1, 2021, were CNY 574,867,410.24, reflecting a minor adjustment of CNY 169,525.24 due to the new leasing standards[56] - The total assets as of the first quarter of 2021 were reported at ¥571,580,919.37, reflecting the adjustments made under the new leasing standard[60] - Total liabilities increased to ¥134,556,466.11 in the first quarter of 2021, with non-current liabilities including lease liabilities of ¥169,525.24[60] - The total liabilities amounted to CNY 146,948,592.89, compared to CNY 134,386,940.87 in the previous period[37] Shareholder Information - The net assets attributable to shareholders increased by 199.94% to ¥1,319,755,740.65 from ¥440,005,451.91[8] - The total number of ordinary shareholders at the end of the reporting period was 29,999[11] - The largest shareholder, 饶丹妮, holds 54.91% of the shares, totaling 32,944,500 shares[11] - The total equity attributable to the parent company was CNY 1,319,755,740.65, up from CNY 440,005,451.91 in the previous period[34] Cash Flow - The cash balance as of March 31, 2021, is 976,917,562.39 yuan, a significant increase from 52,110,499.78 yuan at the end of 2020[31] - The total cash inflow from investment activities was CNY 90,444,821.69, compared to CNY 60,429,767.12 in the previous year, marking an increase of about 49.6%[53] - The net cash flow from financing activities reached CNY 874,781,658.70, a substantial improvement from a net outflow of CNY 550,000.00 in the same period last year[50] - The total cash and cash equivalents at the end of Q1 2021 amounted to CNY 976,917,562.39, up from CNY 77,707,273.75 at the end of Q1 2020, indicating a growth of approximately 1165%[50] - The cash inflow from sales of goods and services was CNY 96,603,886.89, up from CNY 63,143,105.60, representing a growth of approximately 53%[52] Investment and Development - The company successfully completed its IPO, issuing 15 million shares and raising approximately ¥875,052,888.70 in funds[20] - The capital reserve increased by 504.54% to ¥1,010,870,842.93, primarily due to the premium from the public offering of shares[17] - The cumulative amount of raised funds for committed investment projects is 40,026.77 million yuan, with 6,355.2 million yuan invested so far, representing 15.87% of the total[24] - The amount of raised funds that have not yet been used is stored in the company's fundraising account and will continue to be used for committed investment projects[24] Management and Compliance - The company plans to enhance management efficiency and profitability while optimizing internal controls to ensure sustainable development[19] - The company has not experienced any significant changes in project feasibility or major deviations from expected benefits[25] - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[26] - There are no violations regarding external guarantees during the reporting period[25] - The company has not conducted any research, communication, or interview activities during the reporting period[27] - The first quarter report for 2021 was not audited, indicating that the figures may be subject to further review[62] - The company did not adjust comparative information for prior periods as per the transition provisions of the new leasing standard[60] - The adjustment for right-of-use assets and lease liabilities did not impact the shareholders' equity[58]

Financial Performance - The company's operating revenue for 2020 was ¥213,710,100.39, representing a 12.22% increase compared to ¥190,435,668.48 in 2019[16] - The net profit attributable to shareholders for 2020 was ¥97,631,961.45, a 25.72% increase from ¥77,655,943.85 in 2019[16] - The net cash flow from operating activities reached ¥117,173,018.35, showing a significant increase of 175.93% compared to ¥42,464,685.29 in 2019[16] - The total assets at the end of 2020 were ¥574,697,885.00, up 13.01% from ¥508,552,740.20 at the end of 2019[16] - The net assets attributable to shareholders increased by 30.74% to ¥440,005,451.91 from ¥336,551,542.14 in 2019[16] - Basic earnings per share for 2020 were ¥2.1696, a 25.72% increase from ¥1.7257 in 2019[16] - The total profit amounted to ¥114,769,158.47, reflecting a growth of 26.53% year-on-year[53] - Revenue from airborne multifunction display control equipment reached ¥201,220,298.29, accounting for 94.18% of the main business revenue[53] - Revenue from aviation products and services accounted for 99.97% of total revenue, with a year-on-year growth of 12.19%[60] - The sales volume of airborne display control equipment increased by 76.23% to 571 units in 2020, up from 324 units in 2019[62] Dividend Policy - The company plans to distribute a cash dividend of ¥3 per 10 shares, based on a total of 60 million shares[4] - The cash dividend represented 18.44% of the net profit attributable to the parent company, which was 97,631,961.45 yuan for the year 2020[114] - The total cash dividend amount for 2020 was 18,000,000.00 yuan, which accounted for 100% of the profit distribution[111] - The company did not distribute any stock dividends or increase capital from the capital reserve in 2020[113] - The cash dividend policy was consistent with the company's articles of association and shareholder resolutions[110] Research and Development - Research and development expenses totaled ¥23,640,942.91 in 2020, a 26.78% increase from ¥18,647,295.10 in 2019, representing 11.06% of total revenue[69] - The company plans to enhance its R&D capabilities and expand its product offerings to maintain industry leadership[49][45] - The company is investing 100 million RMB in R&D for new technologies aimed at improving operational efficiency and product innovation[120] - The company plans to continuously increase R&D investment and enhance technological innovation to develop new technologies and products[145] - The establishment of the R&D center will significantly improve the company's R&D capabilities and transform technological advantages into economic benefits[146] Market Strategy and Expansion - The company aims to adapt to the evolving market environment and strengthen its strategic development plans[88] - The company is actively expanding into the fixed-wing aircraft, naval vessels, and special vehicles markets, leveraging its product development capabilities and industry position[90] - The company plans to expand its existing product chain, focusing on the development and promotion of airborne visualization navigation products, while upgrading its command and monitoring systems[92] - The company aims to enhance its market expansion capabilities and improve brand influence and market share of main products[145] - Market expansion plans include entering two new international markets by Q3 2021, targeting a 5% increase in overall market share[121] Operational Efficiency - The company experienced a significant increase in cash flow from operations, indicating improved operational efficiency and financial health[16] - The company maintained a stable cost structure, with direct material costs constituting approximately 80% of total costs[65] - The company has committed to improving operational efficiency and reducing costs through enhanced governance and budget management[148] - The company aims to improve its debt repayment ability and financial strength through supplementary working capital[146] - The company plans to enhance its supply chain management, expecting a reduction in operational costs by 8% in the upcoming fiscal year[118] Risks and Challenges - The company faces risks including potential fluctuations in operating performance, with a worst-case scenario of a 50% decline in annual performance due to factors like military budget cuts and competition[99] - The company has a high customer concentration risk, primarily serving large state-owned military enterprises, which could impact revenue if major clients experience operational changes[100] - The company is exposed to risks related to new product development, as lengthy approval processes could hinder the timely introduction of new military products to the market[101] - The company is focused on strengthening its core competitiveness and sustainable profitability despite existing internal and external risks[150] Shareholding Structure - The total number of shares is 45,000,000, with 100% being limited sale shares[188] - The largest shareholder, Rao Danni, holds 73.21% of the shares, totaling 32,944,500 shares[190] - The second largest shareholder, Wu Liubin, holds 12.70% of the shares, totaling 5,715,000 shares[191] - The shareholding structure shows that 90.71% of shares are held by domestic natural persons[188] - The actual controller, Rao Danni, is a natural person and holds a significant position in the company[194] Compliance and Governance - The company has committed to comply with the relevant regulations regarding shareholding and reduction of shares, ensuring transparency and adherence to market rules[122] - The company has established a commitment to not illegally occupy its assets or resources and will not request any form of guarantee from its subsidiaries[127] - The company will ensure that any related party transactions are conducted at fair market prices and in compliance with legal regulations[126] - The company has established a series of systems to protect minority investors' rights, ensuring their access to information and participation in decision-making[149] - The company has committed to timely disclosure of any failure to fulfill commitments and will compensate investors for any losses incurred[144]