Target products continued to grow steadily, and the net profit of Jiangfeng Electronics increased by 138% last year compared with the same period last year.

On the evening of February 23, Jiangfeng Electronics disclosed its 2020 performance KuaiBao. During the reporting period, Jiangfeng Electronics achieved operating income of 1.1665165 billion yuan, an increase of 41.40% over the same period last year; operating profit of 164.743 million yuan, an increase of 155.84% over the same period last year; total profit of 170.1147 million yuan, an increase of 161.82% over the same period last year; and net profit belonging to shareholders of listed companies was 152.5589 million yuan, an increase of 137.68% over the same period last year.

During the reporting period, the target products used by Jiangfeng Electronics in the field of semiconductors and flat panel display maintained sustained and steady growth, while some spare parts products also achieved mass production, and Jiangfeng's sales revenue continued to grow steadily.

Specifically, during the reporting period, Jiangfeng Electronics strictly complied with the national epidemic prevention and control requirements, timely adjusted various production and operation arrangements on the premise of ensuring personnel safety, and took a variety of measures to ensure orderly resumption of work and production in accordance with regulations, timely delivery, service to customers, strictly abide by the delivery date, turn crises into opportunities, fully grasp the opportunities for the development of strong demand in the semiconductor industry, and benefit from the acceleration of domestic substitution by the domestic semiconductor industry at the same time. Actively open up domestic and international markets and strive to enhance product competitiveness. While Jiangfeng Electronics maintains sustained and steady growth in target products in the field of semiconductors and flat panel displays, some spare parts products have also achieved mass production. Jiangfeng Electronics sales revenue continues to grow steadily.

At the same time, with the continuous expansion of Jiangfeng's production capacity and scale, and the strengthening of R & D in various R & D projects, Jiangfeng's R & D expenses, employee compensation, depreciation and other related expenses as well as financial expenses have increased compared with the same period last year.

In addition, Jiangfeng Electronics made a non-recurrent profit and loss of 85.9348 million yuan in 2020, mainly because Jiangfeng Electronics subscribed for the share of Qingdao Juyuan Core Star Equity Investment Partnership Fund of RMB 100 million. as a strategic investor, it subscribed for the initial public offering of SMIC International Integrated Circuit Manufacturing Co., Ltd. The fair value change income recognized by Jiangfeng according to its contribution share and the impact of government subsidies included in "other income" and "non-operating income".