Financial Performance - The company achieved operating revenue of ¥181,523,173.46, an increase of 9.41% compared to the previous year[3] - Net profit attributable to shareholders reached ¥53,502,419.17, reflecting a growth of 34.38% year-on-year[5] - Net profit attributable to shareholders after deducting non-recurring gains and losses was ¥43,467,607.84, up 11.61% from the previous year[5] - Basic earnings per share increased to ¥0.74, a rise of 12.12% compared to the same period last year[5] Assets and Equity - Total assets at the end of the reporting period were ¥851,266,337.05, representing a growth of 103.29% from the beginning of the period[5] - Shareholders' equity attributable to the company was ¥663,042,800.45, an increase of 79.20% from the beginning of the period[5] - The total share capital increased to ¥75,000,000.00, reflecting a growth of 25%[5] Strategic Actions - The company completed the acquisition of 70% equity in Kaide Xinbei (Shenyang) Quartz Co., which contributed to stable growth in operating performance[6] - The increase in net profit was also supported by government subsidies and listing rewards received during the reporting period[6] Cautionary Notes - The financial data presented is preliminary and has not been audited, cautioning investors to be aware of investment risks[7]

证券代码：835179 证券简称：凯德石英 公告编号：2022-102 北京凯德石英股份有限公司 关于接待机构投资者调研情况的公告 | --- | |------------------------------------------------------------------------| | | | 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 | | 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 | | 带法律责任。 | 北京凯德石英股份有限公司（以下简称"公司"）于 2022 年 11 月 14 日接 待了 69 家机构的调研，现将主要情况公告如下： 一、 调研情况 调研时间：2022 年 11 月 14 日 调研形式：网络调研 调研机构：通过网络平台参与调研的 69 家机构投资者 上市公司接待人员：董事长：张忠恕先生；董事会秘书：南舒宇女士 二、 调研的主要问题及公司回复概要 问题 1、半导体领域 8 英寸及以上产品未来是否会继续增加？ 答：伴随着国内半导体领域 8 英寸及以上产品需求的不断增加，公司中高端 产品处于快速发展阶段。公司充分重视该市 ...

Company Overview - The company successfully went public on the Beijing Stock Exchange in March 2022, with an issuance price of 20 RMB per share and a price-to-earnings ratio of 43.9, raising a total of 300 million RMB for high-end quartz product industrialization projects[8]. - The company established a subsidiary, Chaoyang Kaimei Quartz Co., Ltd., in June 2022, with a registered capital of 50 million RMB, focusing on high-quality quartz glass tube projects for semiconductor manufacturing[8]. - The company has been recognized as a "specialized and innovative 'little giant' enterprise" in Beijing as of March 2022[8]. - The company is recognized as a "high-tech enterprise" at the provincial level, indicating its strong innovation capabilities[35]. - The company operates in the production of electronic quartz glass and related products, with a focus on technology promotion and import-export activities[150]. Financial Performance - The company's operating revenue for the reporting period was CNY 81,074,426.33, representing a 3.26% increase compared to CNY 78,512,153.70 in the same period last year[27]. - The net profit attributable to shareholders of the listed company was CNY 19,640,748.90, reflecting a growth of 26.45% from CNY 15,532,877.75 year-on-year[27]. - The gross profit margin improved to 45.37%, up from 40.39% in the previous year[27]. - Total assets increased by 77.78% to CNY 744,437,265.36, compared to CNY 418,737,639.89 at the end of the previous year[28]. - The total liabilities rose by 87.82% to CNY 91,517,400.23, up from CNY 48,725,930.22 year-on-year[28]. - The net cash flow from operating activities surged by 307.80% to CNY 44,295,144.26, compared to CNY 10,862,103.25 in the previous year[28]. - The company achieved operating revenue of 81.07 million yuan, a year-on-year increase of 3.26%, and net profit of 19.64 million yuan, up 26.45% compared to the same period last year[36]. - Cash and cash equivalents increased by 129.45% to 435.21 million yuan, primarily due to funds raised from the company's listing on the Beijing Stock Exchange[40]. - The company's construction in progress surged by 186.58% to 117.57 million yuan, attributed to increased investment in high-end quartz product industrialization projects[40]. Assets and Liabilities - As of June 30, 2022, the company's accounts receivable amounted to 48.7651 million RMB, accounting for 6.55% of total assets[14]. - The company's inventory value was 37.3718 million RMB at the end of June 2022, representing 6.65% of current assets, with a provision for inventory depreciation of 2.7777 million RMB[14]. - Accounts payable rose by 272.06% to 50.86 million yuan, mainly due to increased material and project payments[40]. - The total current assets rose significantly to CNY 561,851,389.55 from CNY 325,443,900.86 year-over-year[119]. - The total non-current assets rose to CNY 182,585,875.81 from CNY 93,293,739.03, indicating growth in long-term investments[120]. Risks and Challenges - The company faces risks related to fluctuations in downstream industry demand, particularly in the semiconductor and photovoltaic sectors, which could impact its operational performance[13]. - The company is at risk of losing tax incentives after the expiration of its "High-tech Enterprise Certificate" in December 2023, which could adversely affect its operating performance[15]. - The company has a significant reliance on related party transactions, with 19.86% of total procurement in the first half of 2022 coming from Quartz Co., which poses a risk if production expands[15]. - The company is exposed to risks from downstream industry fluctuations, particularly in the semiconductor and solar sectors, but expects to benefit from strong market demand[65]. Research and Development - The company received a patent for its independently developed "multi-channel quartz square tube and its production equipment and process" in June 2022[8]. - The company holds multiple patents, reflecting its strong R&D capabilities in quartz product processing technologies[34]. - The semiconductor integrated circuit segment generated revenue of 64,208,704.41, with a gross margin of 53.95%[47]. - Research and development expenses for the first half of 2022 were ¥6,404,607.29, compared to ¥5,565,235.84 in the first half of 2021, reflecting an increase of about 15.1%[128]. Shareholder Information - The actual controllers of the company hold a combined 29.79% equity, which may influence major decisions and pose risks to minority shareholders[68]. - Zhang Zhongshu remains the largest shareholder, holding 14,393,900 shares, which accounts for 19.19% of the total shares[94]. - The top ten shareholders collectively hold 49,193,300 shares, representing 65.59% of the total shares[93]. - The number of shareholders holding ordinary shares increased to 14,094 by the end of the reporting period[90]. Corporate Governance - The board of directors consists of 7 members, while the supervisory board has 3 members and senior management includes 6 individuals[107]. - The company has not faced any administrative penalties or legal restrictions on its management team[84]. - The management team has committed to maintaining integrity and has no significant outstanding debts or legal issues[84]. - The company has fulfilled all commitments made during the reporting period without any violations or overdue obligations[85]. Fundraising and Investments - The company issued 15 million shares at a price of 20.00 yuan per share, raising a total of 300 million yuan for high-end quartz product projects[98]. - The total amount raised from the 2022 public offering, after deducting related expenses, was 26,952.69 million yuan[101]. - The company plans to invest up to RMB 200 million of idle self-owned funds and up to RMB 250 million of idle raised funds in low-risk, high-security, and liquid financial products to improve fund utilization and increase returns for the company and shareholders[80]. - The company has made significant investments in external projects, with cash investments of 200 million yuan and 250 million yuan in April 2022[76]. Compliance and Reporting - The financial report was approved by the board of directors on August 24, 2022[150]. - The company has assessed its ability to continue as a going concern and found no issues affecting its operations[154]. - The company has confirmed that there are no changes in accounting policies or estimates compared to the previous year's financial statements[148]. - The company has not reported any changes in accounting policies or prior period adjustments[141].

Financial Performance - Net profit attributable to shareholders rose by 59.73% to CNY 8,757,656.71 year-on-year[16] - Operating income for the first quarter was CNY 36,954,787.00, reflecting a growth of 4.37% compared to the same period last year[15] - The basic earnings per share increased by 44.44% to CNY 0.13 compared to the same period last year[15] - Operating profit for Q1 2022 was CNY 10,358,032, compared to CNY 6,603,051 in Q1 2021, indicating a significant increase of about 57.5%[42] - Net profit for Q1 2022 was CNY 8,757,656, up from CNY 5,482,918 in Q1 2021, reflecting a growth of approximately 59.5%[43] - The company reported a significant increase in capital reserves, which rose to CNY 401,828,223.40 from CNY 147,301,336.62, an increase of approximately 172%[35] - The total comprehensive income for the period was ¥8,729,387.78, compared to ¥5,471,729.51, reflecting a growth of approximately 59.5%[47] - The company’s total profit amounted to ¥10,270,340.21, up from ¥6,439,551.06, representing an increase of about 59.5% year-over-year[46] Assets and Liabilities - Total assets increased by 71.99% to CNY 720,200,647.74 compared to the end of the previous year[15] - The company's equity attributable to shareholders rose to CNY 648,296,253.16, compared to CNY 370,011,709.67, marking an increase of around 75%[35] - Total current liabilities increased to CNY 71,904,394.58 from CNY 48,725,930.22, representing a rise of approximately 47%[35] - Total liabilities remained relatively stable at CNY 47,297,434.29, slightly up from CNY 46,440,178.27, showing an increase of approximately 1.84%[39] - The debt-to-asset ratio (consolidated) decreased to 9.98% from 11.64% at the end of the previous year[15] Cash Flow - The net cash flow from operating activities surged by 1,401.90% to CNY 21,755,924.01 compared to the previous year[16] - Cash flow from operating activities generated a net amount of ¥21,755,924.01, significantly up from ¥1,448,558.55 in the same period last year[49] - The company’s cash and cash equivalents increased significantly, contributing to improved liquidity and financial stability[39] - The ending balance of cash and cash equivalents for Q1 2022 was $467,162,576.34, compared to $161,907,056.42 in Q1 2021, marking a 188.5% increase[52] Shareholder Information - Major shareholders include Zhang Zhongshu with 14,370,000 shares (19.16%) and Wang Yumin with 7,946,000 shares (10.59%) [20] - The top ten shareholders collectively hold 49,126,400 shares, representing 65.51% of total shares [21] Corporate Governance - The company has committed to avoiding competition with its controlling shareholders and management since August 2015 [27] - The company has established a commitment to standardize related party transactions to align with market prices [27] - The company has disclosed its commitment to manage the integrity of its management team [27] - The company has committed to fulfilling all relevant obligations and has not violated any commitments during the reporting period[29] Research and Development - Research and development expenses for Q1 2022 were CNY 2,897,215.06, slightly up from CNY 2,828,374.70 in Q1 2021, indicating a growth of about 2.4%[42] - Research and development expenses were ¥2,897,215.06, slightly up from ¥2,828,374.70, indicating continued investment in innovation[46] Operational Highlights - The company plans to continue expanding its high-end quartz product lines and enhance production capabilities[16] - The company plans to apply for entry into the innovation layer, indicating a strategic move for market expansion[29] Legal and Compliance - There are no ongoing litigation or arbitration matters reported during the period [24] - No external guarantees or loans have been provided by the company during the reporting period [24] - The company has not engaged in any share buyback activities during the reporting period [24] - There are no significant asset freezes or pledges reported [24]

Important Notes, Table of Contents, and Definitions [Statement](index=4&type=section&id=%E3%80%90%E5%A3%B0%E6%98%8E%E3%80%91) The Company's directors, supervisors, and senior management guarantee the report's accuracy and completeness, with an unqualified audit opinion from Rongcheng CPA - The Company's directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the report's content[7](index=7&type=chunk) - Rongcheng Certified Public Accountants (Special General Partnership) issued a standard unqualified audit report[8](index=8&type=chunk) - To protect business secrets, the specific names of important customers and suppliers are exempt from disclosure[9](index=9&type=chunk) [Major Risk Warnings](index=4&type=section&id=%E3%80%90%E9%87%8D%E5%A4%A7%E9%A3%8E%E9%99%A9%E6%8F%90%E7%A4%BA%E8%A1%A8%E3%80%91) The Company faces ongoing risks from industry fluctuations, raw material prices, talent retention, and operational issues, with no significant changes or delisting risk this period - The Company's main business is affected by fluctuations in downstream industries such as semiconductor integrated circuit chips and photovoltaic solar energy[10](index=10&type=chunk) - There are few suppliers of high-end quartz raw materials, posing a risk of raw material price fluctuations impacting gross margin[10](index=10&type=chunk)[11](index=11&type=chunk) - The Company's accounts receivable book value is **CNY 47.1768 million**, accounting for **11.27% of total assets**, posing a bad debt risk[11](index=11&type=chunk) - The high-tech enterprise certificate is valid until December 2023, posing a risk that tax incentives may not be continuously enjoyed[11](index=11&type=chunk) - Some of the Company's buildings have not obtained property certificates due to historical reasons, posing a risk of being ordered to demolish or face administrative penalties[11](index=11&type=chunk)[12](index=12&type=chunk) - At the end of 2021, the inventory book value was **CNY 36.2721 million**, accounting for **11.15% of current assets**, posing an impairment risk[12](index=12&type=chunk) - In 2021, purchases from related party Quartz Co., Ltd. accounted for **19.57% of total purchases**, indicating a high proportion of related party purchases risk[12](index=12&type=chunk) - Major risks have not significantly changed this period, and the Company has no delisting risk[12](index=12&type=chunk)[13](index=13&type=chunk) [Definitions](index=7&type=section&id=%E9%87%8A%E4%B9%89) This section provides definitions for common terms, company names, related parties, and industry-specific vocabulary to ensure clear understanding of the report - “Kaid Quartz”, “the Company”, and “Company” all refer to Beijing Kaid Quartz Co., Ltd[14](index=14&type=chunk) - “Reporting Period” refers to January 1, 2021, to December 31, 2021[14](index=14&type=chunk) Company Profile [Basic Information](index=8&type=section&id=%E4%B8%80%E3%80%81%20%E5%9F%BA%E6%9C%AC%E4%BF%A1%E6%81%AF) The Company's full name is Beijing Kaid Quartz Co., Ltd., with stock code 835179 and legal representative Zhang Zhongshu - Company's full Chinese name: Beijing Kaid Quartz Co., Ltd., stock abbreviation: Kaid Quartz, stock code: **835179**[16](index=16&type=chunk) - Legal Representative: Zhang Zhongshu[16](index=16&type=chunk) [Contact Information](index=8&type=section&id=%E4%BA%8C%E3%80%81%20%E8%81%94%E7%B3%BB%E6%96%B9%E5%BC%8F) The Company's Board Secretary is Wang Lianlian, with the office located at No. 6 Huxing 3rd Street, Huoxian Town Industrial Development Zone, Tongzhou District, Beijing - Board Secretary: Wang Lianlian[17](index=17&type=chunk) - Contact Address: No. 6 Huxing 3rd Street, Huoxian Town Industrial Development Zone, Tongzhou District, Beijing[17](index=17&type=chunk) [Information Disclosure and Document Availability](index=8&type=section&id=%E4%B8%89%E3%80%81%20%E4%BF%A1%E6%81%AF%E6%8A%AB%E9%9C%B2%E5%8F%8A%E5%A4%87%E7%BD%AE%E5%9C%B0%E7%82%B9) The Company's annual report is disclosed on the Beijing Stock Exchange and China Securities Journal websites, with physical copies available at the Board Secretary's office - The Company's annual report is disclosed on the Beijing Stock Exchange website (www.bse.cn)[18](index=18&type=chunk) - The Company's annual report is available at the Board Secretary's office[18](index=18&type=chunk) [Enterprise Information](index=8&type=section&id=%E5%9B%9B%E3%80%81%20%E4%BC%81%E4%B8%9A%E4%BF%A1%E6%81%AF) Established on January 15, 1997, and listed on the Beijing Stock Exchange on March 4, 2022, the Company specializes in quartz glass products, with a total share capital of 60 million shares - The Company was established on January 15, 1997, and listed on the Beijing Stock Exchange on March 4, 2022[19](index=19&type=chunk) - Main business includes the R&D, production, and sales of quartz glass products such as quartz instruments, quartz tubes, and quartz boats[19](index=19&type=chunk) - Total ordinary share capital is **60 million shares**[19](index=19&type=chunk) - The controlling shareholder is Zhang Zhongshu, and the actual controllers are Zhang Zhongshu and Wang Yumin, a married couple, and their concerted parties[20](index=20&type=chunk) [Registration Status](index=9&type=section&id=%E4%BA%94%E3%80%81%20%E6%B3%A8%E5%86%8C%E6%83%85%E5%86%B5) The Company's unified social credit code is 911101126000604965, with no changes to its registered address or capital of CNY 60 million during the reporting period - Unified Social Credit Code: **911101126000604965**[21](index=21&type=chunk) - Registered Capital: **CNY 60 million**, unchanged during the reporting period[21](index=21&type=chunk) [Intermediary Agencies](index=9&type=section&id=%E5%85%AD%E3%80%81%20%E4%B8%AD%E4%BB%8B%E6%9C%BA%E6%9E%84) Rongcheng Certified Public Accountants serves as the auditor, and Tianfeng Securities Co., Ltd. is the sponsor institution, providing continuous supervision until December 31, 2025 - The accounting firm engaged by the Company is Rongcheng Certified Public Accountants (Special General Partnership)[22](index=22&type=chunk) - Tianfeng Securities Co., Ltd. served as the sponsor institution fulfilling continuous supervision duties during the reporting period[22](index=22&type=chunk) [Post-Reporting Period Updates](index=9&type=section&id=%E5%85%AB%E3%80%81%20%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%90%8E%E6%9B%B4%E6%96%B0%E6%83%85%E5%86%B5) The Company was listed on the Beijing Stock Exchange on March 4, 2022, with its total share capital increasing from 60 million to 75 million shares post-listing - The Company was listed on the Beijing Stock Exchange on March 4, 2022[23](index=23&type=chunk) - After listing, the total share capital increased from **60 million shares** to **75 million shares**[23](index=23&type=chunk) Accounting Data and Financial Indicators [Profitability](index=10&type=section&id=%E4%B8%80%E3%80%81%20%E7%9B%88%E5%88%A9%E8%83%BD%E5%8A%9B) In 2021, the Company's operating revenue grew by 1.45% to CNY 166 million, with net profit attributable to shareholders increasing by 15.58% to CNY 39.8155 million 2021 Profitability Indicators | Indicator | 2021 | 2020 | YoY Change % | | :--- | :--- | :--- | :--- | | Operating Revenue (CNY) | 165,903,905.74 | 163,525,061.92 | 1.45% | | Gross Margin (%) | 44.69% | 40.18% | - | | Net Profit Attributable to Shareholders of Listed Company (CNY) | 39,815,484.61 | 34,447,361.37 | 15.58% | | Basic Earnings Per Share (CNY) | 0.66 | 0.64 | 3.13% | [Solvency](index=10&type=section&id=%E4%BA%8C%E3%80%81%20%E5%81%BF%E5%80%BA%E8%83%BD%E5%8A%9B) As of year-end 2021, total assets increased by 17.76% to CNY 419 million, while total liabilities surged by 92.00% to CNY 48.7259 million, leading to an increased asset-liability ratio 2021 Year-end Solvency Indicators | Indicator | 2021 Year-end | 2020 Year-end | Change from Beginning of Year % | | :--- | :--- | :--- | :--- | | Total Assets (CNY) | 418,737,639.89 | 355,573,871.61 | 17.76% | | Total Liabilities (CNY) | 48,725,930.22 | 25,377,646.55 | 92.00% | | Net Assets Attributable to Shareholders of Listed Company (CNY) | 370,011,709.67 | 330,196,225.06 | 12.06% | | Asset-Liability Ratio % (Consolidated) | 11.64% | 7.14% | - | | Current Ratio | 6.68 | 11.88 | -43.77% | [Operating Performance](index=11&type=section&id=%E4%B8%89%E3%80%81%20%E8%90%A5%E8%BF%90%E6%83%85%E5%86%B5) In 2021, net cash flow from operating activities increased by 105.70% to CNY 68.6555 million, while accounts receivable and inventory turnover rates saw minor changes 2021 Operating Performance Indicators | Indicator | 2021 | 2020 | YoY Change % | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities (CNY) | 68,655,487.97 | 33,376,074.66 | 105.70% | | Accounts Receivable Turnover (times) | 3.89 | 4.88 | - | | Inventory Turnover (times) | 2.31 | 2.11 | - | [Growth Performance](index=11&type=section&id=%E5%9B%9B%E3%80%81%20%E6%88%90%E9%95%BF%E6%83%85%E5%86%B5) In 2021, the Company maintained steady growth, with total assets increasing by 17.76%, operating revenue by 1.45%, and net profit by 15.58% 2021 Growth Performance Indicators | Indicator | 2021 | 2020 | YoY Change % | | :--- | :--- | :--- | :--- | | Total Asset Growth Rate (%) | 17.76% | 67.22% | - | | Operating Revenue Growth Rate (%) | 1.45% | 5.84% | - | | Net Profit Growth Rate (%) | 15.58% | 6.12% | - | [Share Capital Status](index=11&type=section&id=%E4%BA%94%E3%80%81%20%E8%82%A1%E6%9C%AC%E6%83%85%E5%86%B5) As of year-end 2021, the Company's total ordinary share capital remained at 60 million shares, consistent with the previous year 2021 Year-end Share Capital Status | Indicator | 2021 Year-end | 2020 Year-end | Change from Beginning of Year % | | :--- | :--- | :--- | :--- | | Total Ordinary Share Capital (shares) | 60,000,000.00 | 60,000,000.00 | 0.00% | [2021 Quarterly Key Financial Data](index=11&type=section&id=%E5%85%AB%E3%80%81%202021%20%E5%B9%B4%E5%88%86%E5%AD%A3%E5%BA%A6%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE) The Company's 2021 operating revenue and net profit attributable to shareholders showed quarterly fluctuations, with the third quarter recording the highest net profit 2021 Quarterly Key Financial Data | Item | Q1 (Jan-Mar) (CNY) | Q2 (Apr-Jun) (CNY) | Q3 (Jul-Sep) (CNY) | Q4 (Oct-Dec) (CNY) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 35,407,823.18 | 43,104,330.52 | 41,949,884.74 | 45,441,867.30 | | Net Profit Attributable to Shareholders of Listed Company | 5,482,918.46 | 10,049,959.29 | 14,693,443.81 | 9,589,163.05 | [Non-recurring Gains and Losses](index=12&type=section&id=%E4%B9%9D%E3%80%81%20%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A) In 2021, the Company's net non-recurring gains and losses amounted to CNY 0.8699 million, primarily from other non-operating income and government subsidies 2021 Non-recurring Gains and Losses Details | Item | 2021 Amount (CNY) | 2020 Amount (CNY) | 2019 Amount (CNY) | | :--- | :--- | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | -151,722.77 | - | -58,846.22 | | Government Subsidies Included in Current Profit/Loss | 77,661.45 | 823,313.63 | 290,279.51 | | Other Non-operating Income and Expenses Apart from the Above | 1,097,496.32 | -357,172.69 | -97,413.79 | | Total Non-recurring Gains and Losses | 1,023,435.00 | 466,140.94 | 134,019.50 | | Income Tax Impact | 153,515.25 | 190,702.91 | 20,102.93 | | Net Non-recurring Gains and Losses | 869,919.75 | 275,438.03 | 113,916.57 | [Retrospective Adjustment or Restatement of Accounting Data](index=12&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%20%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E8%BF%BD%E6%BA%AF%E8%B0%83%E6%95%B4%E6%88%96%E9%87%8D%E8%BF%B0%E6%83%85%E5%86%B5) The Company adopted new leasing standards on January 1, 2021, increasing right-of-use assets by CNY 4.8498 million and decreasing other non-current assets by the same amount - The Company adopted new leasing standards on January 1, 2021[37](index=37&type=chunk)[38](index=38&type=chunk) - Due to accounting policy adjustments, right-of-use assets increased by **CNY 4.8498 million**, and other non-current assets decreased by **CNY 4.8498 million**[38](index=38&type=chunk) - The new leasing standards had no impact on the parent company's balance sheet[38](index=38&type=chunk) Management Discussion and Analysis [Business Overview](index=13&type=section&id=%E4%B8%80%E3%80%81%20%E4%B8%9A%E5%8A%A1%E6%A6%82%E8%A6%81) The Company specializes in R&D, production, and sales of quartz glass products for semiconductor and photovoltaic industries, maintaining its business model during the reporting period - The Company's main business is the R&D, production, and sales of quartz glass products such as quartz instruments, quartz tubes, and quartz boats[40](index=40&type=chunk) - Products are widely used in semiconductor integrated circuit chip, photovoltaic solar energy, and other fields[40](index=40&type=chunk) - During the reporting period, there were no changes in the Company's industry, main business, key products or services, customer types, critical resources, sales channels, revenue sources, business model, or core competitiveness[41](index=41&type=chunk) [Operating Performance Review](index=13&type=section&id=%E4%BA%8C%E3%80%81%20%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5%E5%9B%9E%E9%A1%B5) In 2021, the Company achieved CNY 166 million in operating revenue and CNY 39.8155 million in net profit, driven by semiconductor and photovoltaic industries, with increased R&D investment and new leasing standards adoption - In 2021, operating revenue was **CNY 166 million**, a **1.45% year-on-year increase**; net profit was **CNY 39.8155 million**, a **15.58% year-on-year increase**[42](index=42&type=chunk) - Benefiting from downstream semiconductor capacity transfer, 5G optical fiber demand growth, and continuous development of the photovoltaic industry, the quartz material industry is expected to accelerate import substitution[44](index=44&type=chunk) - Construction in progress increased by **2,386.25%** compared to the end of the previous year, primarily due to increased civil engineering investment in the high-end quartz product industrialization project this period[47](index=47&type=chunk) - R&D expenses amounted to **CNY 10.8645 million**, accounting for **6.55% of operating revenue**, a **8.12% year-on-year increase**[76](index=76&type=chunk) - Collaborated with customer F to develop ultra-high purity high-temperature resistant quartz components for integrated circuits, with a total project budget of **CNY 45.5 million**[81](index=81&type=chunk) - Rongcheng Certified Public Accountants (Special General Partnership) issued a standard unqualified audit report for the Company[8](index=8&type=chunk) [Operating Plan](index=13&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%E7%BB%8F%E8%90%A5%E8%AE%A1%E5%88%92) The Company's main business is R&D, production, and sales of quartz glass products for semiconductor and photovoltaic industries, achieving CNY 166 million in revenue and CNY 39.8155 million in net profit in 2021 - The Company's main business is the R&D, production, and sales of quartz glass products such as quartz instruments, quartz tubes, and quartz boats[42](index=42&type=chunk) - In 2021, operating revenue reached **CNY 165.9039 million**, a **1.45% increase** compared to the same period last year[42](index=42&type=chunk) - Net profit was **CNY 39.8155 million**, a **15.58% increase** compared to the same period last year[42](index=42&type=chunk) [Industry Overview](index=13&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%E8%A1%8C%E4%B8%9A%E6%83%85%E5%86%B5) Quartz materials are crucial for semiconductor and photovoltaic industries, with China's quartz product sector transitioning to technology-intensive production, poised for import substitution - Quartz products are critical materials in semiconductor manufacturing, currently with low localization rates and a market largely monopolized by foreign companies[44](index=44&type=chunk) - China's quartz glass materials and products industry is gradually shifting from energy and labor-intensive to technology and capital-intensive[44](index=44&type=chunk) - Benefiting from downstream semiconductor capacity transfer, 5G optical fiber demand growth, and continuous development of the photovoltaic industry, the quartz material industry is expected to accelerate import substitution[44](index=44&type=chunk) [Financial Analysis](index=14&type=section&id=%EF%BC%88%E4%B8%89%EF%BC%89%E8%B4%A2%E5%8A%A1%E5%88%86%E6%9E%90) In 2021, the Company's balance sheet saw significant changes, including a 44.07% increase in accounts receivable and a 2,386.25% rise in construction in progress, while net cash flow from operating activities grew by 105.70% 2021 Year-end Major Balance Sheet Item Changes | Item | 2021 Year-end Amount (CNY) | 2021 Year-end % of Total Assets | 2020 Year-end Amount (CNY) | 2020 Year-end % of Total Assets | Change % | | :--- | :--- | :--- | :--- | :--- | :--- | | Notes Receivable | 20,389,999.80 | 4.87% | 49,153,083.57 | 13.82% | -58.52% | | Accounts Receivable | 47,176,787.22 | 11.27% | 32,745,801.81 | 9.21% | 44.07% | | Construction in Progress | 41,025,550.59 | 9.80% | 1,650,100.31 | 0.46% | 2,386.25% | | Other Payables | 14,795,754.28 | 3.53% | 552,108.93 | 0.16% | 2,579.86% | 2021 Profit Composition Changes | Item | 2021 Amount (CNY) | 2021 % of Operating Revenue | 2020 Amount (CNY) | 2020 % of Operating Revenue | Change % | | :--- | :--- | :--- | :--- | :--- | :--- | | Selling Expenses | 3,751,595.85 | 2.26% | 2,610,160.60 | 1.60% | 43.73% | | Administrative Expenses | 16,966,797.31 | 10.23% | 12,849,740.92 | 7.86% | 32.04% | | Financial Expenses | -2,240,820.42 | -1.35% | -684,492.31 | -0.42% | -227.37% | | Investment Income | 1,050,713.80 | 0.63% | 456,400.12 | 0.28% | 130.22% | 2021 Operating Revenue and Gross Margin by Product Category | Category/Item | Operating Revenue (CNY) | Operating Cost (CNY) | Gross Margin (%) | YoY Change in Operating Revenue (%) | | :--- | :--- | :--- | :--- | :--- | | Quartz Products for Semiconductor Integrated Circuit Chips | 125,611,233.38 | 56,450,163.72 | 55.06% | 37.75% | | Quartz Products for Photovoltaic Solar Energy Industry | 39,379,371.51 | 35,027,217.61 | 11.05% | -44.53% | 2021 Net Cash Flow Changes | Item | 2021 Amount (CNY) | 2020 Amount (CNY) | Change % | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 68,655,487.97 | 33,376,074.66 | 105.70% | | Net Cash Flow from Investing Activities | -40,601,899.14 | -9,808,063.31 | -313.96% | [Investment Status Analysis](index=18&type=section&id=%EF%BC%88%E5%9B%9B%EF%BC%89%E6%8A%95%E8%B5%84%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) The Company made no major equity investments but invested CNY 311 million in wealth management products, generating CNY 1.0507 million in investment income, while its subsidiary's industrialization project is under construction 2021 Financial Assets Measured at Fair Value | Financial Asset Category | Initial Investment Cost (CNY) | Source of Funds | Investment Income During Reporting Period (CNY) | | :--- | :--- | :--- | :--- | | Financial Assets Held for Trading | 251,000,000.00 | Own Funds | 917,947.40 | | Financial Assets Held for Trading | 60,000,000.00 | Proceeds from Issuance | 132,766.40 | | Total | 311,000,000.00 | - | 1,050,713.80 | - Wholly-owned subsidiary Beijing Kaixin New Material Technology Co., Ltd. is the implementing entity for the high-end quartz product industrialization project, which is under construction and has not yet commenced actual operations[69](index=69&type=chunk) [Tax Incentives](index=20&type=section&id=%EF%BC%88%E4%BA%94%EF%BC%89%E7%A8%8E%E6%94%B6%E4%BC%98%E6%83%A0%E6%83%85%E5%86%B5) The Company enjoys a 15% corporate income tax rate as a high-tech enterprise until 2023, and its subsidiary Kaixin New Material benefits from a halved income tax rate in 2021 - The Company enjoys a **15% corporate income tax preferential rate** for the years 2020-2022[73](index=73&type=chunk) - Kaixin New Material qualified as a small and micro-profit enterprise in 2021, enjoying preferential income tax policies[74](index=74&type=chunk) [R&D Status](index=20&type=section&id=%EF%BC%88%E5%85%AD%EF%BC%89%E7%A0%94%E5%8F%91%E6%83%85%E5%86%B5) In 2021, R&D expenses increased by 8.12% to CNY 10.8645 million, accounting for 6.55% of revenue, with 14 new patents and ongoing development of 12-inch wafer manufacturing components 2021 R&D Expenses | Item | 2021 Amount/Ratio | 2020 Amount/Ratio | | :--- | :--- | :--- | | R&D Expenses Amount (CNY) | 10,864,453.42 | 10,048,206.44 | | R&D Expenses as % of Operating Revenue | 6.55% | 6.14% | - The Company obtained **14 patent authorizations**, including **9 invention patents** and **5 utility model patents**, increasing the total number of patents held by the Company to **39**[4](index=4&type=chunk)[78](index=78&type=chunk) - R&D projects focus on critical quartz components for 12-inch wafer manufacturing processes, aiming for domestic substitution[80](index=80&type=chunk) - Collaborated with customer F to develop ultra-high purity high-temperature resistant quartz components for integrated circuits, with a total project budget of **CNY 45.5 million**[81](index=81&type=chunk) [Audit Status](index=21&type=section&id=%EF%BC%88%E4%B8%83%EF%BC%89%E5%AE%A1%E8%AE%A1%E6%83%85%E5%86%B5) Rongcheng Certified Public Accountants issued an unqualified audit opinion, confirming no anomalies in revenue recognition, and the Company adopted new leasing standards on January 1, 2021 - Rongcheng Certified Public Accountants (Special General Partnership) issued a standard unqualified audit report for the Company[8](index=8&type=chunk) - Revenue recognition was identified as a key audit matter, and audit procedures found no anomalies[82](index=82&type=chunk)[83](index=83&type=chunk) - The Company adopted new leasing standards on January 1, 2021, and adjusted relevant accounting policies[84](index=84&type=chunk) [Changes in Accounting Policies, Estimates, or Correction of Major Accounting Errors](index=22&type=section&id=%EF%BC%88%E5%85%AB%EF%BC%89%E4%BC%9A%E8%AE%A1%E6%94%BF%E7%AD%96%E3%80%81%E4%BC%9A%E8%AE%A1%E4%BC%B0%E8%AE%A1%E5%8F%98%E6%9B%B4%E6%88%96%E9%87%8D%E5%A4%A7%E4%BC%9A%E8%AE%A1%E5%B7%AE%E9%94%99%E6%9B%B4%E6%AD%A3) The Company adopted new leasing standards on January 1, 2021, resulting in a CNY 4.8498 million increase in right-of-use assets and a corresponding decrease in other non-current assets, with no major accounting estimate changes - The Company adopted new leasing standards on January 1, 2021[84](index=84&type=chunk) - Right-of-use assets increased by **CNY 4.8498 million**, and other non-current assets decreased by **CNY 4.8498 million**[88](index=88&type=chunk) - There were no major changes in accounting estimates during this reporting period[86](index=86&type=chunk) [Changes in Consolidation Scope](index=23&type=section&id=%EF%BC%88%E4%B9%9D%EF%BC%89%E5%90%88%E5%B9%B6%E6%8A%A5%E8%A1%A8%E8%8C%83%E5%9B%B4%E7%9A%84%E5%8F%98%E5%8C%96%E6%83%85%E5%86%B5) The Company's scope of consolidated financial statements remained unchanged during the reporting period - The Company's consolidation scope remained unchanged during the reporting period[90](index=90&type=chunk) [Corporate Social Responsibility](index=23&type=section&id=%EF%BC%88%E5%8D%81%EF%BC%89%E4%BC%81%E4%B8%9A%E7%A4%BE%E4%BC%9A%E8%B4%A3%E4%BB%BB) The Company actively fulfills its social responsibilities by supporting local economic development and strictly adhering to environmental regulations, ensuring proper operation of environmental facilities - The Company actively undertakes social responsibilities, supports regional economic development, and shares the fruits of its development with society[90](index=90&type=chunk) - The Company strictly complies with national environmental regulations in its production and operations, with all environmental facilities operating normally[91](index=91&type=chunk) [Future Outlook](index=23&type=section&id=%E4%B8%89%E3%80%81%20%E6%9C%AA%E6%9D%A5%E5%B1%95%E6%9C%9B) The Company anticipates accelerated import substitution in the quartz material industry, aiming to transition to high-end products through talent development and R&D, with a 2022 goal of advancing its industrialization project - The quartz material industry is expected to accelerate import substitution and enter a rapid upward trend[92](index=92&type=chunk) - The Company strives to further promote industrial structure adjustment, facilitate industrial transformation and upgrading, and gradually achieve a shift from low-end to high-end products[94](index=94&type=chunk) - The Company will strengthen talent development, deepen independent innovation, focus on high-tech product R&D, and accelerate the domestic substitution process for high-end quartz products[94](index=94&type=chunk) - The Company's 2022 operating goal is to actively and steadily prepare for the 'High-end Quartz Product Industrialization Project' to further enhance its core competitiveness and market share[95](index=95&type=chunk) [Industry Development Trends](index=23&type=section&id=(%E4%B8%80)%20%E8%A1%8C%E4%B8%9A%E5%8F%91%E5%B1%95%E8%B6%8B%E5%8A%BF) China's quartz product industry is shifting towards high-tech, driven by demand from electronic information and semiconductor sectors, with national policies supporting accelerated import substitution - China's quartz product industry is transforming from an energy and labor-intensive sector to a technology and capital-intensive one[92](index=92&type=chunk) - The nation's emphasis on downstream quartz product industries continues to grow, with successive policies introduced for semiconductor and photovoltaic industry upgrades and supporting incentives[92](index=92&type=chunk) - The quartz material industry is expected to accelerate import substitution and enter a rapid upward trend[92](index=92&type=chunk) [Company Development Strategy](index=23&type=section&id=(%E4%BA%8C)%20%E5%85%AC%E5%8F%B8%E5%8F%91%E5%B1%95%E6%88%98%E7%95%A5) The Company aims to transform its industrial structure from low-end to high-end products, enhancing competitiveness through talent development, innovation, and R&D to accelerate domestic substitution of high-end quartz products - The Company strives to further promote industrial structure adjustment, facilitate industrial transformation and upgrading, and gradually achieve a shift from low-end to high-end products[94](index=94&type=chunk) - The Company will strengthen talent development, deepen independent innovation, focus on high-tech product R&D, and provide customers with high-quality products and professional technical services[94](index=94&type=chunk) - The goal is to accelerate the performance improvement of high-end quartz products and the domestic substitution process, aiming to enhance product performance and maintain product advancement and market competitiveness[94](index=94&type=chunk) [Operating Plan or Objectives](index=24&type=section&id=(%E4%B8%89)%20%E7%BB%8F%E8%90%A5%E8%AE%A1%E5%88%92%E6%88%96%E7%9B%AE%E6%A0%87) The Company's 2022 objective is to prudently advance the "High-end Quartz Product Industrialization Project" to boost core competitiveness and market share, while maintaining steady business growth - The Company's 2022 operating goal is to actively and steadily prepare for the 'High-end Quartz Product Industrialization Project'[95](index=95&type=chunk) - Through comprehensive measures in R&D, management, and optimization, the Company aims to further enhance its core competitiveness and market share[95](index=95&type=chunk) - This operating goal does not constitute a performance commitment to investors, who should maintain sufficient risk awareness[95](index=95&type=chunk) [Risk Factors](index=24&type=section&id=%E5%9B%9B%E3%80%81%20%E9%A3%8E%E9%99%A9%E5%9B%A0%E7%B4%A0) The Company faces ongoing risks from industry fluctuations, raw material prices, talent retention, and operational issues, with no new risks identified during the reporting period - Downstream industry fluctuation risk: The Company's main business is affected by the prosperity of the semiconductor and photovoltaic industries, but national policy support is expected to remain unchanged in the medium to long term[97](index=97&type=chunk) - Raw material price fluctuation risk: There are few suppliers of high-end quartz raw materials, but the Company maintains stable cooperation with major suppliers, and domestic technological development is expected to reduce costs[98](index=98&type=chunk)[99](index=99&type=chunk) - Technical talent loss risk: Quartz processing requires highly skilled personnel, and the Company ensures talent stability through competitive compensation and incentive mechanisms[99](index=99&type=chunk) - Risk of improper control by actual controllers: The actual controllers hold a high proportion of shares, and the Company has established a standardized governance structure and internal management system to prevent risks[100](index=100&type=chunk) - Accounts receivable bad debt risk: Accounts receivable tie up significant working capital, but major customers are stable, and the Company has a sound collection management system[100](index=100&type=chunk)[101](index=101&type=chunk) - Risk of inability to continuously enjoy tax incentives: The Company will continue to apply for high-tech enterprise certification after its current certificate expires[101](index=101&type=chunk) - Risk of some buildings not having property certificates: Buildings without property certificates are non-core production facilities, and new factory buildings will replace their functions[101](index=101&type=chunk)[102](index=102&type=chunk) - Inventory impairment risk: Inventory scale is expanding, but the Company maintains smooth communication with customers and effectively controls inventory levels[102](index=102&type=chunk)[103](index=103&type=chunk) - Risk of high proportion of related party purchases: Purchases from related parties account for a high proportion, and the Company will strictly adhere to regulations and determine prices based on market fair value[103](index=103&type=chunk) - No new risk factors were added during the reporting period[104](index=104&type=chunk) Significant Events [Index of Significant Events](index=27&type=section&id=%E4%B8%80%E3%80%81%20%E9%87%8D%E5%A4%A7%E4%BA%8B%E4%BB%B6%E7%B4%A2%E5%BC%95) The Company had litigation, significant related party transactions, and disclosed commitments during the reporting period, but no external guarantees, loans, fund misappropriation, major asset changes, or delisting risks - There were litigation and arbitration matters, significant related party transactions, and disclosed commitments[106](index=106&type=chunk) - There were no external guarantees, external loans, misappropriation or transfer of company funds by shareholders or their related parties, major asset acquisitions/disposals, equity incentives, share repurchases, asset seizures/attachments/freezes, delisting risks, investigations or penalties, dishonesty, or other voluntarily disclosed matters[106](index=106&type=chunk) [Details of Significant Events](index=27&type=section&id=%E4%BA%8C%E3%80%81%20%E9%87%8D%E5%A4%A7%E4%BA%8B%E4%BB%B6%E8%AF%A6%E6%83%85%EF%BC%88%E5%A6%82%E4%BA%8B%E9%A1%B9%E5%AD%98%E5%9C%A8%E9%80%89%E6%8B%A9%E4%BB%A5%E4%B8%8B%E8%A1%A8%E6%A0%BC%E5%A1%AB%E5%88%97%EF%BC%89) The Company experienced a CNY 0.2678 million lawsuit, engaged in related party purchases of CNY 13.5735 million and sales of CNY 0.6096 million, and is fulfilling multiple commitments and major R&D cooperation contracts [Litigation and Arbitration Matters](index=27&type=section&id=(%E4%B8%80)%20%E8%AF%89%E8%AE%BC%E3%80%81%E4%BB%B2%E8%A3%81%E4%BA%8B%E9%A1%B9) During the reporting period, the Company was involved in litigation or arbitration as a plaintiff/applicant totaling CNY 0.2678 million, representing 0.07% of net assets, with no major unresolved or concluded cases 2021 Litigation and Arbitration Matters | Nature | Accumulated Amount (CNY) | Total (CNY) | % of Net Assets at Year-end | | :--- | :--- | :--- | :--- | | As Plaintiff/Applicant | 267,770.00 | 267,770.00 | 0.07% | - There were no major unresolved litigation or arbitration matters during the reporting period[109](index=109&type=chunk) - There were no major concluded litigation or arbitration matters during the reporting period[109](index=109&type=chunk) [Occupation or Transfer of Company Funds, Assets, and Other Resources by Shareholders and Their Related Parties](index=28&type=section&id=(%E4%BA%8C)%20%E8%82%A1%E4%B8%9C%E5%8F%8A%E5%85%B6%E5%85%B3%E8%81%94%E6%96%B9%E5%8D%A0%E7%94%A8%E6%88%96%E8%BD%AC%E7%A7%BB%E5%85%AC%E5%8F%B8%E8%B5%84%E9%87%91%E3%80%81%E8%B5%84%E4%BA%A7%E5%8F%8A%E5%85%B6%E4%BB%96%E8%B5%84%E6%BA%90%E7%9A%84%E6%83%85%E5%86%B5) During this reporting period, there were no instances of shareholders or their related parties occupying or transferring the Company's funds, assets, or other resources - During this reporting period, there were no instances of shareholders or their related parties occupying or transferring the Company's funds, assets, or other resources[110](index=110&type=chunk) [Significant Related Party Transactions During the Reporting Period](index=28&type=section&id=(%E4%B8%89)%20%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E5%8F%91%E7%94%9F%E7%9A%84%E9%87%8D%E5%A4%A7%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93%E6%83%85%E5%86%B5) In 2021, the Company's routine related party transactions included purchasing CNY 13.5735 million in goods and services and selling CNY 0.6096 million in products 2021 Routine Related Party Transactions | Specific Transaction Type | Estimated Amount (CNY) | Actual Amount (CNY) | | :--- | :--- | :--- | | 1. Purchase of Raw Materials, Fuels, Power, and Acceptance of Services | 15,000,000.00 | 13,573,524.78 | | 2. Sale of Products, Goods, and Provision of Services | 1,700,000.00 | 609,584.08 | [Fulfillment of Commitments](index=28&type=section&id=(%E5%9B%9B)%20%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9%E7%9A%84%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) The Company, its actual controllers, and management are fulfilling multiple commitments, including avoiding horizontal competition and standardizing related party transactions, with no breaches during the reporting period - Actual controllers or controlling shareholders, directors, supervisors, and senior management committed to avoiding horizontal competition and standardizing related party transactions[112](index=112&type=chunk)[115](index=115&type=chunk) - Directors, supervisors, and senior management signed statements and commitments regarding management integrity[112](index=112&type=chunk)[116](index=116&type=chunk) - The Company committed that the Board Secretary would obtain the required qualifications within the stipulated period[112](index=112&type=chunk)[117](index=117&type=chunk) - During the reporting period, all relevant commitments were fulfilled normally, with no overdue or unfulfilled commitments, and no violations of commitments[118](index=118&type=chunk) [Major Contracts and Their Fulfillment](index=31&type=section&id=(%E4%BA%94)%20%E9%87%8D%E5%A4%A7%E5%90%88%E5%90%8C%E5%8F%8A%E5%85%B6%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) The Company signed two major cooperation agreements in 2021 with customers F and G, totaling up to CNY 93.5 million, for the R&D and industrialization of high-purity quartz components, both currently in progress - The Company signed a 'Project Development Cooperation Agreement' with customer F, agreeing to achieve the R&D and industrialization of ultra-high purity high-temperature resistant quartz components for integrated circuits from 2021 to 2026, with a total project budget of **CNY 45.5 million**[119](index=119&type=chunk) - The Company signed a 'Core Component R&D and Industrialization Verification Project Contract' with G, planning to invest no more than **CNY 48 million** between 2021 and 2023[119](index=119&type=chunk) Share Changes and Shareholder Information [Ordinary Share Capital Status](index=32&type=section&id=%E4%B8%80%E3%80%81%20%E6%99%AE%E9%80%9A%E8%82%A1%E8%82%A1%E6%9C%AC%E6%83%85%E5%86%B5) As of year-end 2021, the Company's total ordinary share capital was 60 million shares, with 33.91% unrestricted and 66.09% restricted shares 2021 Year-end Ordinary Share Capital Structure | Share Type | Beginning of Period (shares) | Beginning of Period Ratio (%) | Change During Period (shares) | End of Period (shares) | End of Period Ratio (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | Total Unrestricted Shares | 29,028,333 | 48.38% | -8,684,333 | 20,344,000 | 33.91% | | Total Restricted Shares | 30,971,667 | 51.62% | 8,684,333 | 39,656,000 | 66.09% | | Total Share Capital | 60,000,000 | - | 0 | 60,000,000 | - | [Shareholders Holding 5% or More or Top Ten Shareholders](index=32&type=section&id=(%E4%BA%8C)%20%E6%8C%81%E8%82%A1%205%25%E4%BB%A5%E4%B8%8A%E7%9A%84%E8%82%A1%E4%B8%9C%E6%88%96%E5%89%8D%E5%8D%81%E5%90%8D%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) As of year-end 2021, the top ten shareholders collectively held 81.84% of the Company's shares, with actual controllers Zhang Zhongshu and Wang Yumin directly holding 37.19% 2021 Year-end Shareholders Holding 5% or More or Top Ten Shareholders | No. | Shareholder Name | Shareholder Type | Shares Held at Year-end (shares) | Shareholding Ratio at Year-end (%) | | :--- | :--- | :--- | :--- | :--- | | 1 | Zhang Zhongshu | Domestic Natural Person | 14,370,000 | 23.95% | | 2 | Wang Yumin | Domestic Natural Person | 7,946,000 | 13.24% | | 3 | Beijing Deyicheng Investment Development Center (Limited Partnership) | Domestic Non-state-owned Legal Person | 6,840,000 | 11.40% | | 4 | Jiangsu Pacific Quartz Co., Ltd. | Domestic Non-state-owned Legal Person | 6,560,000 | 9.93% | | 5 | Xinyu Chuanliu Investment Management Co., Ltd. - Fenyichuanliu Changfeng New Material Investment Partnership (Limited Partnership) | Domestic Non-state-owned Legal Person | 3,598,000 | 6.00% | | 6 | Li Yanxia | Domestic Natural Person | 3,269,900 | 5.45% | | Total | - | 49,702,000 | 81.84% | - Zhang Zhongshu and Wang Yumin are a married couple, jointly holding **37.19%** of the Company's equity directly[124](index=124&type=chunk) - Zhang Zhongshu holds **46.17%** and **26.67%** equity in Deyicheng and Yingkai Investment respectively, and also serves as the executive partner for both partnerships[124](index=124&type=chunk) [Controlling Shareholder and Actual Controller Information](index=34&type=section&id=%E4%B8%89%E3%80%81%20%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E3%80%81%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E6%83%85%E5%86%B5) Zhang Zhongshu is the controlling shareholder with 23.95% equity, and he, along with his wife Wang Yumin, are the actual controllers, jointly holding 37.19% of the Company's shares - The Company's controlling shareholder is Zhang Zhongshu, with a shareholding ratio of **23.95%**[125](index=125&type=chunk) - Zhang Zhongshu and Wang Yumin are the Company's joint actual controllers, a married couple, jointly holding **37.19%** of the Company's equity directly[126](index=126&type=chunk) - During the reporting period, there were no changes in the Company's controlling shareholder or actual controllers[127](index=127&type=chunk) Financing and Profit Distribution [Issuance of Ordinary Shares and Use of Proceeds During the Reporting Period](index=36&type=section&id=%E4%B8%80%E3%80%81%20%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E7%9A%84%E6%99%AE%E9%80%9A%E8%82%A1%E8%82%A1%E7%A5%A8%E5%8F%91%E8%A1%8C%E5%8F%8A%E5%8B%9F%E9%9B%86%E8%B5%84%E9%87%91%E4%BD%BF%E7%94%A8%E6%83%85%E5%86%B5) The Company raised CNY 37 million in its second offering, with CNY 10 million reallocated, and CNY 111.8 million in its third offering, using CNY 37.9681 million during the reporting period 2021 Use of Proceeds | Issuance No. | Amount Raised (CNY) | Amount Used During Reporting Period (CNY) | Change in Use of Proceeds | Details of Change in Use | Amount of Proceeds with Changed Use (CNY) | | :--- | :--- | :--- | :--- | :--- | :--- | | Second | 37,000,000.00 | 2,677,610.00 | Yes | Changed to purchase equipment and supplement working capital | 10,000,000.00 | | Third | 111,800,000.00 | 37,968,119.16 | No | - | - | - The use of **CNY 10 million** from the second fundraising was changed to purchase equipment and supplement working capital[131](index=131&type=chunk) - The use of proceeds from the third fundraising remained unchanged, with a balance of **CNY 68.5943 million** as of December 31, 2021[132](index=132&type=chunk) [Equity Distribution Status](index=37&type=section&id=%E5%85%AD%E3%80%81%20%E6%9D%83%E7%9B%8A%E5%88%86%E6%B4%BE%E6%83%85%E5%86%B5) The Board of Directors approved no profit distribution for 2021, prioritizing strategic implementation and the high-end quartz product industrialization project for sustainable development - In 2021, the Company was profitable and had positive retained earnings, but no cash dividend distribution plan was proposed[133](index=133&type=chunk) - The Company will not distribute profits for 2021, with funds primarily allocated to the construction of the high-end quartz product industrialization project and other areas[133](index=133&type=chunk) Directors, Supervisors, Senior Management, and Employees [Directors, Supervisors, and Senior Management Information](index=38&type=section&id=%E4%B8%80%E3%80%81%20%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E6%83%85%E5%86%B5) The Company has 14 directors, supervisors, and senior management members, with Chairman and General Manager Zhang Zhongshu earning CNY 1.5587 million and holding 23.95% of ordinary shares 2021 Basic Information and Compensation of Directors, Supervisors, and Senior Management | Name | Position | Annual Pre-tax Compensation (CNY million) | | :--- | :--- | :--- | | Zhang Zhongshu | Chairman, General Manager | 1.5587 | | Yu Yang | Director | 0.0865 | | Chen Qiang | Director, Chief Engineer | 0.4278 | | Zhang Kaixuan | Director | 0.00 | | Zhang Na | Independent Director | 0.05 | | Su Dedong | Independent Director | 0.05 | | Liu Zhihong | Independent Director | 0.05 | | Liu Yun | Chairman of the Supervisory Board | 0.2341 | | Wang Xiaobo | Supervisor | 0.3271 | | Bi Xinhua | Supervisor | 0.1434 | | Yang Jisheng | Deputy General Manager | 0.2976 | | Zhang Juan | Deputy General Manager | 0.4268 | | Zhou Lina | CFO | 0.7492 | | Wang Lianlian | Board Secretary | 0.4790 | - Zhang Zhongshu directly holds **14.37 million ordinary shares**, with a shareholding ratio of **23.95%**[139](index=139&type=chunk) - Company Chairman and General Manager Zhang Zhongshu is the father of Director Zhang Kaixuan; and the uncle-in-law of Director Yu Yang[137](index=137&type=chunk) [Employee Information](index=39&type=section&id=%E4%BA%8C%E3%80%81%20%E5%91%98%E5%B7%A5%E6%83%85%E5%86%B5) As of year-end 2021, the Company had 261 employees, with 154 in production and 39 in technical roles, primarily with associate degrees or below, supported by performance reviews and training 2021 Year-end Employee Structure | Category | Number at Year-end | | :--- | :--- | | Administrative Staff | 54 | | Financial Staff | 7 | | Technical Staff | 39 | | Production Staff | 154 | | Sales Staff | 7 | | Total Employees | 261 | | **By Education Level** | | | PhD | 0 | | Master's | 3 | | Bachelor's | 18 | | Associate Degree and Below | 240 | | Total Employees | 261 | - The Company comprehensively enhances employee quality and skills through improved performance appraisal systems and internal and external training[144](index=144&type=chunk) - The Company provides social insurance and housing provident funds for employees and has established monthly and annual incentive mechanisms[144](index=144&type=chunk) Industry Information [Industry Information](index=41&type=section&id=%E7%AC%AC%E4%B9%9D%E8%8A%82%20%E8%A1%8C%E4%B8%9A%E4%BF%A1%E6%81%AF) This section does not voluntarily disclose additional industry information, as relevant content has been covered in the management discussion and analysis - The Company did not voluntarily disclose industry information[147](index=147&type=chunk) Corporate Governance, Internal Control, and Investor Protection [Corporate Governance](index=42&type=section&id=%E7%AC%AC%E5%8D%81%E8%8A%82%20%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86%E3%80%81%E5%86%85%E9%83%A8%E6%8E%A7%E5%88%B6%E5%92%8C%E6%8A%95%E8%B5%84%E8%80%85%E4%BF%9D%E6%8A%A4) The Company has established a sound governance structure with a Shareholders' Meeting, Board of Directors, Supervisory Board, and senior management, ensuring independent operation and compliance with internal management systems - The Company has established a sound corporate governance structure, including the Shareholders' Meeting, Board of Directors, Supervisory Board, and senior management[149](index=149&type=chunk) - The Company's governance mechanism provides appropriate protection and equal rights to all shareholders[150](index=150&type=chunk) - All major decisions of the Company are effectively voted on in accordance with the systems and procedures stipulated in the 'Articles of Association'[151](index=151&type=chunk) - During the reporting period, the Company's Articles of Association were amended[152](index=152&type=chunk) [Operation of the Three Meetings](index=43&type=section&id=(%E4%BA%8C)%20%E4%B8%89%E4%BC%9A%E8%BF%90%E4%BD%9C%E6%83%85%E5%86%B5) In 2021, the Board of Directors, Supervisory Board, and Shareholders' Meeting held 10, 9, and 5 meetings respectively, addressing key matters in compliance with legal procedures 2021 Meeting Status of the Three Meetings | Meeting Type | Number of Meetings Held During Reporting Period | Major Matters Reviewed (Brief Description) | | :--- | :--- | :--- | | Board of Directors | 10 | Reviewed matters including: estimated annual routine related party transactions, 2020 General Manager's work summary and plan, 2020 Board of Directors' work report, 2020 annual report and abstract, 2020 profit distribution plan, re-appointment of 2021 audit firm, 2021 semi-annual report, core component R&D and industrialization verification project, Board of Directors' re-election, correction of 2020 and 2021 semi-annual reports, correction of prior period accounting errors, appointment of Chairman and senior management, matters related to the Company's application for public issuance of shares to unspecified qualified investors and listing on the Select Layer, matters related to the Company's shares changing from Select Layer listing to Beijing Stock Exchange listing, etc. | | Supervisory Board | 9 | Reviewed matters including: 2020 Supervisory Board's work report, 2020 annual report and abstract, 2020 profit distribution plan, Supervisory Board's re-election, election of Chairman of the Supervisory Board, correction of 2020 and 2021 semi-annual reports, correction of prior period accounting errors, appointment of Chairman and senior management, matters related to the Company's application for public issuance of shares to unspecified qualified investors and listing on the Select Layer, matters related to the Company's shares changing from Select Layer listing to Beijing Stock Exchange listing, review opinions on the prospectus for the Company's application for public issuance of shares to unspecified qualified investors and listing on the Beijing Stock Exchange, etc. | | Shareholders' Meeting | 5 | Reviewed matters including: Company's external investment in wholly-owned subsidiaries, use of idle own funds and idle raised funds to purchase wealth management products, estimated annual routine related party transactions, 2020 Board of Directors' work report, 2020 Supervisory Board's work report, 2020 annual report and abstract, 2020 profit distribution plan, Board of Directors' re-election, Supervisory Board's re-election, matters related to the Company's application for public issuance of shares to unspecified qualified investors and listing on the Select Layer, matters related to the Company's shares changing from Select Layer listing to Beijing Stock Exchange listing, etc. | - The convening, holding, and voting procedures of the Company's Shareholders' Meeting, Board of Directors, and Supervisory Board comply with relevant laws and regulations[154](index=154&type=chunk) [Internal Control](index=44&type=section&id=%E4%BA%8C%E3%80%81%20%E5%86%85%E9%83%A8%E6%8E%A7%E5%88%B6) The Company maintains independence in assets, personnel, finance, organization, and business, with sound and effective internal control systems, and no major defects or risks identified during the reporting period - The Company is independent of its controlling shareholder and actual controllers in terms of assets, personnel, finance, organization, and business, possessing an independent and complete business system[161](index=161&type=chunk)[162](index=162&type=chunk) - The Company's internal control system is complete, standardized, and reasonable, with no major defects[163](index=163&type=chunk) - Independent directors diligently, faithfully, and conscientiously performed their duties, safeguarding the legitimate rights and interests of the Company and its shareholders[159](index=159&type=chunk) - The Supervisory Board found no major risk matters in its supervision activities during this year, and had no objections to the supervised matters for this year[160](index=160&type=chunk) - The Company has established a 'System for Accountability for Major Errors in Annual Report Information Disclosure', and no major accounting errors occurred during the reporting period[164](index=164&type=chunk) - The Company has formulated performance management measures for senior management, linking appraisal results directly to compensation[166](index=166&type=chunk) [Performance of Duties by Independent Directors During the Reporting Period](index=44&type=section&id=(%E4%BA%8C)%20%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E7%8B%AC%E7%AB%8B%E8%91%A3%E4%BA%8B%E5%B1%A5%E8%A1%8C%E8%81%8C%E8%B4%A3%E7%9A%84%E6%83%85%E5%86%B5) Independent directors Zhang Na, Su Dedong, and Liu Zhihong attended all 10 board meetings and 1-2 shareholder meetings, diligently fulfilling their duties without raising objections 2021 Independent Directors' Meeting Attendance | Independent Director Name | Board Meeting Attendance | Board Meeting Attendance Method | Shareholders' Meeting Attendance | Shareholders' Meeting Attendance Method | | :--- | :--- | :--- | :--- | :--- | | Zhang Na | 10 | In-person | 1 | In-person | | Su Dedong | 10 | In-person | 1 | In-person | | Liu Zhihong | 10 | In-person | 2 | In-person | - Independent directors raised no objections to Company matters, and their suggestions were adopted[159](index=159&type=chunk) [Opinions of the Supervisory Board on Supervision Matters During the Year](index=44&type=section&id=(%E4%B8%89)%20%E7%9B%91%E4%BA%8B%E4%BC%9A%E5%B0%B1%E5%B9%B4%E5%BA%A6%E5%86%85%E7%9B%91%E7%9D%A3%E4%BA%8B%E9%A1%B9%E7%9A%84%E6%84%8F%E8%A7%81) The Supervisory Board found no major risk matters during its annual supervision activities and had no objections to the supervised matters - The Supervisory Board found no major risk matters in its supervision activities during this year[160](index=160&type=chunk) - The Supervisory Board had no objections to the supervised matters for this year[160](index=160&type=chunk) [Explanation of the Company's Independence and Autonomous Operating Capability](index=45&type=section&id=(%E5%9B%9B)%20%E5%85%AC%E5%8F%B8%E4%BF%9D%E6%8C%81%E7%8B%AC%E7%AB%8B%E6%80%A7%E3%80%81%E8%87%AA%E4%B8%BB%E7%BB%8F%E8%90%A5%E8%83%BD%E5%8A%9B%E7%9A%84%E8%AF%B4%E6%98%8E) The Company operates independently in business, personnel, finance, organization, and assets, possessing a complete and autonomous system for R&D, procurement, production, and sales - The Company possesses an independent and complete R&D, procurement, production, and sales business system, conducting operations independently[161](index=161&type=chunk) - The Company's directors, supervisors, and other senior management are all legally appointed in accordance with the 'Company Law' and 'Articles of Association', and senior management do not hold positions in the controlling shareholder or its controlled related enterprises[161](index=161&type=chunk) - The Company has established an independent financial department, an independent financial accounting system, and standardized financial management policies, with independently opened bank accounts[162](index=162&type=chunk) - The Company has legally established and improved institutions such as the Shareholders' Meeting, Board of Directors, and Supervisory Board, independently exercising operational and management authority[162](index=162&type=chunk) - The Company legally and independently owns assets matching its business system and equipment necessary for operations[162](index=162&type=chunk) [Construction and Implementation of Internal Control System](index=45&type=section&id=(%E4%BA%94)%20%E5%86%85%E9%83%A8%E6%8E%A7%E5%88%B6%E5%88%B6%E5%BA%A6%E7%9A%84%E5%BB%BA%E8%AE%BE%E5%8F%8A%E5%AE%9E%E6%96%BD%E6%83%85%E5%86%B5) The Company's internal control system is complete, standardized, and reasonable, with no major defects, ensuring compliance with accounting and financial management regulations and effective risk control - The Company's internal control system is complete, standardized, and reasonable, with no major defects[163](index=163&type=chunk) - The Company strictly formulates accounting policies in accordance with relevant national laws and regulations, conducting independent accounting[163](index=163&type=chunk) - The Company strictly implements and enforces its financial management policies, continuously improving and perfecting them[163](index=163&type=chunk) - The Company effectively analyzes market, policy, operational, and legal risks based on its risk control system, implementing pre-prevention, in-process control, and post-review measures[163](index=163&type=chunk) [Information on the Accountability System for Annual Report Errors](index=45&type=section&id=(%E5%85%AD)%20%E5%B9%B4%E5%BA%A6%E6%8A%A5%E5%91%8A%E5%B7%AE%E9%94%99%E8%B4%A3%E4%BB%BB%E8%BF%BD%E7%A9%B6%E5%88%B6%E5%BA%A6%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) The Company has established an accountability system for major errors in annual report information disclosure, and no major accounting errors or omissions occurred during the reporting period - The Company has established a 'System for Accountability for Major Errors in Annual Report Information Disclosure'[164](index=164&type=chunk) - During the reporting period, the Company did not experience any major accounting error corrections or significant information omissions[164](index=164&type=chunk) [Appraisal Mechanism for Senior Management and Establishment and Implementation of Incentive Mechanism During the Reporting Period](index=45&type=section&id=(%E4%B8%83)%20%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%AF%B9%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E7%9A%84%E8%80%83%E8%AF%84%E6%9C%BA%E5%88%B6%EF%BC%8C%E4%BB%A5%E5%8F%8A%E6%BF%80%E5%8A%B1%E6%9C%BA%E5%88%B6%E7%9A%84%E5%BB%BA%E7%AB%8B%E3%80%81%E5%AE%9E%E6%96%BD%E6%83%85%E5%86%B5) The Company has a performance management system for senior management, linking appraisal results directly to compensation, which comprises basic salary and annual bonuses - The Company has formulated relevant performance management measures, setting performance appraisal indicators for each senior management member based on the annual operating plan[166](index=166&type=chunk) - Appraisal results are directly linked to compensation, which consists of basic salary and annual bonuses[166](index=166&type=chunk) [Investor Protection](index=46&type=section&id=%E4%B8%89%E3%80%81%20%E6%8A%95%E8%B5%84%E8%80%85%E4%BF%9D%E6%8A%A4) The Company implements cumulative voting and online voting for shareholder meetings, and has established an investor relations management system to ensure transparent and compliant information disclosure - The Company's Shareholders' Meeting implements cumulative voting and online voting arrangements[167](index=167&type=chunk) - The Company has formulated the 'Investor Relations Management System', which details the principles, content, and communication methods for investor relations management[168](index=168&type=chunk) - The Company will facilitate investor communication channels through various forms such as annual report briefings, online or on-site surveys, to fully and compliantly disclose information to all investors[168](index=168&type=chunk) Financial Accounting Report [Audit Report](index=47&type=section&id=%E4%B8%80%E3%80%81%20%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) Rongcheng Certified Public Accountants issued a standard unqualified audit report for the Company's 2021 financial statements, confirming no anomalies in revenue recognition, a key audit matter - Rongcheng Certified Public Accountants (Special General Partnership) issued a standard unqualified audit report for the Company[170](index=170&type=chunk) - Revenue recognition was identified as a key audit matter, with audit procedures including understanding and evaluating internal controls, examining sales contracts, sampling supporting documents, confirming customer sales and accounts receivable balances, reconciling export customs data, and performing cut-off tests[173](index=173&type=chunk)[174](index=174&type=chunk) - Through the implementation of the above procedures, no anomalies were found in revenue recognition[174](index=174&type=chunk) [Financial Statements](index=49&type=section&id=%E4%BA%8C%E3%80%81%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section presents the Company's 2021 consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity [Consolidated Balance Sheet](index=49&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%20%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of December 31, 2021, the Company's consolidated total assets were CNY 419 million, total liabilities CNY 48.7259 million, and total equity attributable to parent company owners CNY 370 million 2021 Consolidated Balance Sheet Summary | Item | Dec 31, 2021 (CNY) | Dec 31, 2020 (CNY) | | :--- | :--- | :--- | | Total Current Assets | 325,443,900.86 | 301,440,972.08 | | Total Non-current Assets | 93,293,739.03 | 54,132,899.53 | | Total Assets | 418,737,639.89 | 355,573,871.61 | | Total Current Liabilities | 48,725,930.22 | 25,377,646.55 | | Total Non-current Liabilities | - | - | | Total Liabilities | 48,725,930.22 | 25,377,646.55 | | Total Equity Attributable to Parent Company Owners | 370,011,709.67 | 330,196,225.06 | | Total Equity | 370,011,709.67 | 330,196,225.06 | [Parent Company Balance Sheet](index=52&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%20%E6%AF%8D%E5%85%AC%E5%8F%B8%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of December 31, 2021, the parent company's total assets were CNY 416 million, total liabilities CNY 46.4402 million, and total owners' equity CNY 370 million 2021 Parent Company Balance Sheet Summary | Item | Dec 31, 2021 (CNY) | Dec 31, 2020 (CNY) | | :--- | :--- | :--- | | Total Current Assets | 315,625,190.16 | 297,877,165.64 | | Total Non-current Assets | 100,658,627.22 | 57,683,042.93 | | Total Assets | 416,283,817.38 | 355,560,208.57 | | Total Current Liabilities | 46,440,178.27 | 25,374,628.01 | | Total Non-current Liabilities | - | - | | Total Liabilities | 46,440,178.27 | 25,374,628.01 | | Total Owners' Equity | 369,843,639.11 | 330,185,580.56 | [Consolidated Income Statement](index=54&type=section&id=%EF%BC%88%E4%B8%89%EF%BC%89%20%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) In 2021, the Company's consolidated total operating revenue was CNY 166 million, operating profit CNY 44.9801 million, net profit CNY 39.8155 million, and basic earnings per share CNY 0.66 2021 Consolidated Income Statement Summary | Item | 2021 (CNY) | 2020 (CNY) | | :--- | :--- | :--- | | Total Operating Revenue | 165,903,905.74 | 163,525,061.92 | | Total Operating Costs | 122,694,610.17 | 124,241,350.70 | | Operating Profit | 44,980,067.42 | 38,871,139.54 | | Total Profit | 44,875,127.17 | 38,057,566.73 | | Net Profit | 39,815,484.61 | 34,447,361.37 | | Basic Earnings Per Share (CNY/share) | 0.66 | 0.64 | [Parent Company Income Statement](index=56&type=section&id=%EF%BC%88%E5%9B%9B%EF%BC%89%20%E6%AF%8D%E5%85%AC%E5%8F%B8%E5%88%A9%E6%B6%A6%E8%A1%A8) In 2021, the parent company's operating revenue was CNY 166 million, operating profit CNY 44.8186 million, and net profit CNY 39.6581 million 2021 Parent Company Income Statement Summary | Item | 2021 (CNY) | 2020 (CNY) | | :--- | :--- | :--- | | Operating Revenue | 165,903,905.74 | 163,525,061.92 | | Operating Cost | 91,764,708.81 | 97,813,158.89 | | Operating Profit | 44,818,604.79 | 38,859,934.81 | | Total Profit | 44,713,664.54 | 38,046,361.99 | | Net Profit | 39,658,058.55 | 34,436,716.87 | [Consolidated Cash Flow Statement](index=57&type=section&id=%EF%BC%88%E4%BA%94%EF%BC%89%20%E5%90%88%E5%B9%B6%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) In 2021, consolidated net cash flow from operating activities was CNY 68.6555 million, from investing activities was -CNY 40.6019 million, and from financing activities was -CNY 3.78 million, resulting in a net increase of CNY 24.2241 million in cash and cash equivalents 2021 Consolidated Cash Flow Statement Summary | Item | 2021 (CNY) | 2020 (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 68,655,487.97 | 33,376,074.66 | | Net Cash Flow from Investing Activities | -40,601,899.14 | -9,808,063.31 | | Net Cash Flow from Financing Activities | -3,780,000.00 | 111,250,000.00 | | Net Increase in Cash and Cash Equivalents | 24,224,086.23 | 134,814,668.69 | [Parent Company Cash Flow Statement](index=59&type=section&id=%EF%BC%88%E5%85%AD%EF%BC%89%20%E6%AF%8D%E5%85%AC%E5%8F%B8%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) In 2021, parent company net cash flow from operating activities was CNY 68.5050 million, from investing activities was -CNY 46.4038 million, and from financing activities was -CNY 3.78 million, resulting in a net increase of CNY 18.2716 million in cash and cash equivalents 2021 Parent Company Cash Flow Statement Summary | Item | 2021 (CNY) | 2020 (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 68,504,963.23 | 33,362,411.62 | | Net Cash Flow from Investing Activities | -46,403,847.61 | -13,358,206.71 | | Net Cash Flow from Financing Activities | -3,780,000.00 | 111,250,000.00 | | Net Increase in Cash and Cash Equivalents | 18,271,613.02 | 131,250,862.25 | [Consolidated Statement of Changes in Shareholders' Equity](index=61&type=section&id=%EF%BC%88%E4%B8%83%EF%BC%89%20%E5%90%88%E5%B9%B6%E8%82%A1%E4%B8%9C%E6%9D%83%E7%9B%8A%E5%8F%98%E5%8A%A8%E8%A1%A8) As of December 31, 2021, consolidated shareholders' equity totaled CNY 370 million, comprising CNY 60 million in share capital, CNY 147 million in capital reserve, CNY 16.2542 million in surplus reserve, and CNY 146 million in retained earnings 2021 Consolidated Statement of Changes in Shareholders' Equity Summary | Item | 2021 Year-end Balance (CNY) | 2020 Year-end Balance (CNY) | | :--- | :--- | :--- | | Share Capital | 60,000,000.00 | 60,000,000.00 | | Capital Reserve | 147,301,336.62 | 147,301,336.62 | | Surplus Reserve | 16,254,230.25 | 12,288,424.40 | | Retained Earnings | 146,456,142.80 | 110,606,464.04 | | Total Equity Attributable to Parent Company Owners | 370,011,709.67 | 330,196,225.06 | [Parent Company Statement of Changes in Shareholders' Equity](index=65&type=section&id=%EF%BC%88%E5%85%AB%EF%BC%89%20%E6%AF%8D%E5%85%AC%E5%8F%B8%E8%82%A1%E4%B8%9C%E6%9D%83%E7%9B%8A%E5%8F%98%E5%8A%A8%E8%A1%A8) As of December 31, 2021, parent company shareholders' equity totaled CNY 370 million, including CNY 60 million in share capital, CNY 147 million in capital reserve, CNY 16.2542 million in surplus reserve, and CNY 146 million in retained earnings 2021 Parent Company Statement of Changes in Shareholders' Equity Summary | Item | 2021 Year-end Balance (CNY) | 2020 Year-end Balance (CNY) | | :--- | :--- | :--- | | Share Capital | 60,000,000.00 | 60,000,000.00 | | Capital Reserve | 147,301,336.62 | 147,301,336.62 | | Surplus Reserve | 16,254,230.25 | 12,288,424.40 | | Retained Earnings | 146,288,072.24 | 110,595,819.54 | | Total Owners' Equity | 369,8

证券代码：835179 证券简称：凯德石英 公告编号：2022-012 北京凯德石英股份有限公司 关于接待机构投资者调研情况的公告 | --- | |--------------------------------------------------------------------------| | | | 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 | | 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带 | | 法律责任。 | 北京凯德石英股份有限公司（以下简称"公司"）于 2022 年 3 月 11 日接待了 6 家机构的调研，现将主要情况公告如下： 一、 调研情况 调研时间：2022 年 3 月 11 日 调研地点：凯德石英会议室 调研形式：现场调研 调研机构：中金公司、金元证券、红塔证券、首创证券、银河证券、民生证券 上市公司接待人员：董事长、总经理张忠恕先生，董事会秘书王连连女士 二、 调研的主要问题及公司回复概要 问题 1：过去两年光伏市场波动较大，公司光伏行业用产品毛利率相比去年情况怎 么样？有什么展望？ 回答：光伏行业用石英产品需求量不断 ...