股票代码：600356 股票简称：恒丰纸业 编号：2023-013 牡丹江恒丰纸业股份有限公司 关于参加黑龙江辖区上市公司 2023 年投资者 网上集体接待日活动的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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责任。 为进一步加强与投资者的互动交流，牡丹江恒丰纸业股份有限公司（以下简 称"公司"）将参加由黑龙江证监局、黑龙江省上市公司协会与深圳市全景网络 有限公司联合举办的"2023 年黑龙江辖区上市公司投资者集体接待日活动"，现 将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net）；或关注微信公众号（名称：全景财经）；或下载全景路 演 APP,参与本次互动交流。活动时间为 2023 年 5 月 15 日（周一）14:00-16:30。 届时公司高管将在线就公司 2022 年度业绩、公司治理、发展战略、 经营状况、 融资计划、股权激励和可持续发展等投资者关心的问题，与投资者进行沟通与交 流，欢迎广大投资者踊跃参与！ 特此公告。 牡丹江恒丰纸业股份有限 ...

Financial Performance - The company's operating revenue for Q1 2023 was CNY 633,857,946.72, representing a year-on-year increase of 15.98%[5] - The net profit attributable to shareholders for the same period was CNY 25,133,305.27, reflecting an increase of 11.06% compared to the previous year[5] - The basic earnings per share for Q1 2023 was CNY 0.08, which is a 14.29% increase year-on-year[5] - In Q1 2023, the company reported a net profit of CNY 25,693,382.85, an increase of 10.3% compared to CNY 23,361,819.19 in Q1 2022[20] - The operating profit for Q1 2023 was CNY 32,242,129.47, up from CNY 28,525,787.46 in the same period last year, reflecting a growth of 6.0%[20] - The company’s total revenue from operating activities was CNY 596,972,536.79, compared to CNY 432,700,854.94 in the previous year, indicating a growth of 37.9%[23] - The company’s diluted earnings per share for Q1 2023 were CNY 0.08, up from CNY 0.07 in Q1 2022[21] Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -24,923,573.82, a decline of 183.11% compared to the same period last year[5] - Cash flow from operating activities showed a net outflow of CNY 24,923,573.82, a significant decrease from a net inflow of CNY 29,987,569.17 in Q1 2022[24] - The company generated CNY 591,582,654.70 in cash from sales, compared to CNY 428,515,667.47 in the previous year, marking a growth of 38.1%[23] - Total cash and cash equivalents at the end of Q1 2023 were CNY 284,018,636.75, down from CNY 250,771,362.90 at the end of Q1 2022[25] - Cash and cash equivalents as of March 31, 2023, were RMB 284,018,636.75, down from RMB 308,594,717.12 as of December 31, 2022[14] Assets and Liabilities - Total assets at the end of Q1 2023 amounted to CNY 3,069,526,211.38, a slight increase of 0.32% from the end of the previous year[6] - Total assets as of March 31, 2023, amounted to RMB 3,069,526,211.38, slightly up from RMB 3,059,656,214.62 at the end of 2022[16] - Total liabilities decreased to RMB 580,965,483.45 in Q1 2023 from RMB 588,777,169.54 in Q4 2022, a reduction of 1.4%[16] - Shareholders' equity increased to RMB 2,488,560,727.93 as of March 31, 2023, compared to RMB 2,470,879,045.08 at the end of 2022, reflecting a growth of 0.7%[17] Expenses and Investments - Total operating costs for Q1 2023 were RMB 607,298,022.55, up 18.1% from RMB 514,211,267.62 in Q1 2022[19] - Research and development expenses increased by 37.73% due to higher trial production costs[8] - Research and development expenses increased to RMB 23,682,335.07 in Q1 2023, compared to RMB 17,194,224.36 in Q1 2022, reflecting a growth of 37.5%[19] - The company incurred financial expenses of CNY 4,704,104.66 in Q1 2023, a decrease from CNY 5,539,623.54 in Q1 2022[20] - Interest expenses were CNY 3,500,000.00 in Q1 2023, down from CNY 5,813,151.89 in the same quarter last year[20] - The company paid CNY 58,998,250.32 in employee compensation during Q1 2023, compared to CNY 48,801,306.38 in Q1 2022, reflecting an increase of 20.9%[24] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 14,025[10] - The largest shareholder, Mudanjiang Hengfeng Paper Group Co., Ltd., holds 29.93% of the shares, amounting to 89,423,083 shares[11] Construction and Projects - The company reported a significant increase of 540.59% in construction in progress due to increased project investments[8]

Financial Performance - The company achieved a net profit attributable to shareholders of RMB 128,920,271.32, representing a year-on-year increase of 27.17%[6]. - Total operating revenue for 2022 was RMB 2,455,948,158.37, an increase of 21.49% compared to RMB 2,021,565,770.40 in 2021[20]. - The basic earnings per share increased to RMB 0.43, up 26.47% from RMB 0.34 in the previous year[21]. - The weighted average return on equity rose to 5.45%, an increase of 0.99 percentage points compared to 4.46% in 2021[21]. - The company reported a net profit excluding non-recurring gains and losses of RMB 118,585,029.31, which is a 40.36% increase from RMB 84,483,630.49 in 2021[20]. - The total profit reached CNY 152,623,300, marking a 26.23% increase year-on-year, driven by growth in domestic, international, and new product trade segments[48]. - The company reported a net profit margin of 481.36 million, indicating strong profitability[90]. - Future guidance suggests a projected revenue growth of approximately 15% for the next fiscal year[92]. Cash Flow and Assets - Cash flow from operating activities was RMB 239,815,592.11, reflecting a significant increase of 56.51% from RMB 153,226,821.14 in 2021[20]. - As of the end of the reporting period, cash and cash equivalents amounted to ¥308,594,717.12, representing 10.09% of total assets, an increase of 66.14% from the previous period[64]. - The company's accounts receivable balance was RMB 502,092,007.26, with a provision for bad debts of RMB 47,496,575.89, resulting in a net value of RMB 454,595,431.37[167]. - The inventory balance as of December 31, 2022, was RMB 662,707,998.79, with a provision for inventory impairment of RMB 48,362,993.35, leading to a net value of RMB 614,345,005.44[169]. - Total assets at the end of 2022 amounted to RMB 3,059,656,214.62, a 4.00% increase from RMB 2,941,956,133.62 in 2021[20]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 1.298 per 10 shares, totaling RMB 38,775,333, which accounts for 30.08% of the net profit attributable to shareholders[6]. - The total cash dividend distributed in 2022 was 38,775,333 CNY, representing 30.08% of the net profit attributable to ordinary shareholders[114]. - The company has established a stable and continuous cash dividend policy, ensuring reasonable returns for investors, particularly small and medium shareholders[111]. Operational Highlights - The sales volume of mechanism paper was 203,109 tons, representing a growth of 15.06% compared to the previous year[28]. - The company completed a mechanism paper production of 198,022 tons, an increase of 11.64% year-on-year[29]. - The product delivery acceptance rate was 99.53%, exceeding the target by 1.33 percentage points[29]. - The company achieved a historical high in total sales of cigarette paper, exceeding 47,000 tons in 2022[39]. - The domestic market coverage for filter rod forming paper reached 100%, meeting various structural design needs and safety requirements[40]. Research and Development - The company’s research and development expenses were CNY 74,822,297.96, a decrease of 4.09% from the previous year, due to reduced external R&D projects[50]. - The company applied for 5 new patents and received 9 patent grants during the year, enhancing its innovation capabilities[61]. - The company is actively involved in the development of new products, including flame-retardant rolling paper and high-performance filter paper[61]. Market Position and Strategy - The company’s international market expansion strategy has positioned it as the global leader in cigarette paper sales in 2022[47]. - The company aims to maintain its leading position in domestic cigarette paper and expand into specialty paper markets, focusing on high-quality sustainable development[70]. - The company plans to implement a new five-year development plan starting in 2023, emphasizing efficiency and multi-dimensional integration[72]. Environmental and Sustainability Initiatives - The company is focusing on sustainable development, actively pursuing the development of environmentally friendly lining paper to achieve carbon neutrality goals[43]. - The company has invested 22,623,000 CNY in environmental protection during the reporting period[120]. - The company has reduced carbon emissions by 6,770 tons through energy-saving initiatives and the optimization of production processes[130]. - The company has established emergency response plans for environmental incidents and conducts regular training to ensure effective responses[126]. Governance and Compliance - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[80]. - The company has established a robust information disclosure management system to ensure transparency and protect shareholder rights[83]. - The internal control system was audited by Tianjian Accounting Firm, receiving a standard unqualified opinion, confirming the effectiveness of the internal controls[118]. Employee and Management Structure - The company has a strong management team with a stable structure, ensuring effective decision-making and strategic alignment[45]. - The number of employees in the parent company is 1,904, while the total number of employees in the parent company and major subsidiaries is 2,042[106]. - The company emphasizes the importance of employee compensation policies to motivate staff and enhance operational efficiency[110].

2022 年第三季度报告 证券代码：600356 证券简称：恒丰纸业 牡丹江恒丰纸业股份有限公司 2022 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 (二)非经常性损益项目和金额 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）保证季度报告中财务 信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期 | 年初至报告期末 | 年初至报告期 | | --- | --- | --- | --- | --- | | | | 比上年同 | | 末比上年同期 | | | | 期增减变 | | 增减变动幅度 | | | | 动幅度(%) | | (%) | | 营业收入 | 578,453,527.31 | 18.54 ...

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 1,108,872,322.99, representing a 10.12% increase compared to CNY 1,007,006,197.70 in the same period of 2021[19] - The net profit attributable to shareholders for the first half of 2022 was CNY 48,143,958.88, a decrease of 41.96% from CNY 82,946,465.92 in the previous year[19] - The basic earnings per share for the first half of 2022 was CNY 0.16, down 42.86% from CNY 0.28 in the same period of 2021[20] - The net profit attributable to ordinary shareholders, after deducting non-recurring gains and losses, was 45.59 million yuan, a decrease of 40.38% year-on-year[38] - The total comprehensive income for the first half of 2022 was CNY 50,813,585.85, down from CNY 88,625,387.19 in the same period last year[108] - The company's net profit for the first half of 2022 was CNY 54,015,484.45, a decrease of 39.5% compared to CNY 89,175,620.24 in the same period of 2021[111] - Operating profit for the first half of 2022 was CNY 62,326,810.40, down 40.5% from CNY 104,545,420.48 in the first half of 2021[111] Cash Flow and Liquidity - The net cash flow from operating activities increased by 51.30% to CNY 194,837,158.66, compared to CNY 128,774,693.97 in the same period last year[19] - The company's cash and cash equivalents increased by 62.62% to CNY 302,052,887.27, attributed to improved sales collections[48] - The total cash inflow from operating activities was CNY 1,059,984,986.52, an increase of 7.3% compared to CNY 988,486,866.66 in the previous period[117] - The net cash flow from operating activities reached CNY 137,639,311.60, significantly up from CNY 52,819,668.64, marking a 160% increase[117] - The total cash and cash equivalents at the end of the period amounted to CNY 302,052,887.27, down from CNY 317,581,452.93 at the end of the first half of 2021[114] Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,977,328,492.89, reflecting a 1.20% increase from CNY 2,941,956,133.62 at the end of the previous year[19] - Total liabilities increased to CNY 591,107,091.64 from CNY 568,136,917.22, reflecting a growth of about 4.0%[100] - Current assets totaled CNY 1,617,828,975.17, up from CNY 1,476,167,695.15, indicating an increase of about 9.6%[98] - Total equity increased to CNY 2,343,238,552.74, compared to CNY 2,319,693,669.29 in the previous year[104] Market and Production - The company achieved a production volume of 90,315 tons and sales volume of 101,846 tons of mechanical paper, representing year-on-year growth of 1.13% and 9.99% respectively[38] - Domestic sales volume reached 76,563 tons, up 6.90% year-on-year, while foreign trade sales volume increased by 20.56% to 25,283 tons[38] - The company operates 21 paper production lines with an annual production capacity of 230,000 tons, supporting personalized product demands[30] Research and Development - The company focuses on the new tobacco field, emphasizing the development of new functional materials for tobacco paper, which will be a key product for deep development in the coming years[26] - The company is recognized as a key high-tech enterprise in the paper industry, leading research and development in tobacco-related paper products[32] - Research and development expenses for the first half of 2022 were CNY 33,006,143.80, a slight decrease from CNY 34,183,879.53 in the same period of 2021[106] Environmental and Regulatory Compliance - The company is classified as a key pollutant discharge unit, with strict adherence to environmental regulations and no major pollution incidents reported during the reporting period[67] - The company has installed online monitoring devices for wastewater and air emissions, ensuring compliance with environmental standards[69] - The company implemented an energy-saving and emission reduction plan, achieving a reduction of 800 tons of standard coal and over 3,780 tons of carbon emissions in the first half of 2022[75] Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 16,248[88] - The largest shareholder, Mudanjiang Hengfeng Paper Group Co., Ltd., holds 89,423,083 shares, accounting for 29.93% of the total shares[91] - The first phase employee stock ownership plan holds 8,153,940 shares, which is 2.73% of the total shares[91] Governance and Management - The company has established a commitment to maintain its independence and avoid competition with its controlling shareholder, ensuring no overlap in business operations[79] - The company has committed to independent financial management and asset ownership, ensuring that its assets are not used to guarantee debts of other entities[80] - The company has established a clear governance structure to ensure independent operation and management, maintaining compliance with regulatory requirements[81]

证券代码：600356 证券简称：恒丰纸业 公告编号： 2022-009 牡丹江恒丰纸业股份有限公司 关于参加"2022 年投资者网上集体接待日 活动暨业绩说明会"的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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责任。 为促进上市公司规范运作、健康发展，增强上市公司信 息透明度，加强与广大投资者沟通交流，进一步提升投资者 关系管理水平，黑龙江省上市公司协会联合深圳市全景网络 有限公司，将于 2022 年 5 月 12 日 14:30-16:30 在"全景路 演"（https://rs.p5w.net/html/132395.shtml）举办"黑 龙江省上市公司 2022 年投资者网上集体接待日活动暨业绩 说明会"。 出席本次活动人员有：公司副董事长、总经理李迎春先 生、财务总监刘君先生、董事会秘书刘新欢先生、独立董事 张晓慧女士。 为充分尊重投资者、提升交流的针对性，现就公司本次 活动提前向投资者公开征集问题，广泛听取投资者的意见和 建议。投资者可于 2022 年 5 月 12 日 12:00 前访问 https://i ...

Financial Performance - The company's operating revenue for Q1 2022 was CNY 546,525,106.59, representing a year-on-year increase of 9.34%[5] - The net profit attributable to shareholders decreased by 40.38% to CNY 22,630,676.53 compared to the same period last year[5] - Basic earnings per share decreased by 46.15% to CNY 0.07[6] - In Q1 2022, the company's net profit was CNY 23,361,819.19, a decrease of 42.2% compared to CNY 40,365,244.64 in Q1 2021[20] - The operating profit for Q1 2022 was CNY 28,525,787.46, down 43.5% from CNY 50,624,910.15 in the same period last year[20] - The company's total comprehensive income for Q1 2022 was CNY 23,361,819.19, down 42.2% from CNY 40,365,244.64 in Q1 2021[21] Cash Flow and Liquidity - The net cash flow from operating activities fell by 69.73% to CNY 29,987,569.17[5] - The net cash flow from operating activities in Q1 2022 was CNY 29,987,569.17, a significant decrease of 69.7% from CNY 99,084,661.53 in Q1 2021[24] - Cash and cash equivalents at the end of Q1 2022 amounted to CNY 250,771,362.90, down from CNY 373,062,912.93 at the end of Q1 2021[25] - The total cash inflow from investment activities in Q1 2022 was CNY 30,000,000.00, a decrease of 76.0% from CNY 125,067,724.00 in Q1 2021[24] - The net cash flow from financing activities in Q1 2022 was CNY -340,566.75, compared to CNY -63,088,694.10 in Q1 2021, indicating a worsening cash flow situation[25] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,988,519,755.64, an increase of 1.58% from the end of the previous year[6] - Current assets as of March 31, 2022, totaled RMB 1,585,849,967.89, an increase from RMB 1,476,167,695.15 at the end of 2021[15] - Total assets as of March 31, 2022, amounted to RMB 2,988,519,755.64, compared to RMB 2,941,956,133.62 at the end of 2021[17] - Total liabilities increased to RMB 599,279,520.05 from RMB 568,136,917.22, marking a rise of 5.5%[17] - Shareholders' equity as of March 31, 2022, was RMB 2,389,240,235.59, up from RMB 2,373,819,216.40 at the end of 2021[17] Revenue and Costs - Total operating revenue for Q1 2022 reached RMB 546,525,106.59, an increase of 9.3% compared to RMB 499,823,727.84 in Q1 2021[19] - Total operating costs for Q1 2022 were RMB 514,211,267.62, up 15.5% from RMB 445,107,885.77 in Q1 2021[19] - Operating costs included RMB 457,102,065.04 in cost of goods sold, which rose by 28% from RMB 357,657,593.34 in the previous year[19] - The company's gross profit margin was negatively impacted by a significant rise in raw material and logistics costs, leading to a 43.65% decrease in operating profit[9] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 16,512[11] Accounts Receivable and Inventory - Accounts receivable increased by 50.96% as a result of increased revenue[8] - Accounts receivable rose to RMB 556,527,411.54, up 50.9% from RMB 368,660,095.44 at the end of 2021[15] - Inventory decreased to RMB 459,286,305.33 from RMB 498,692,041.30, a decline of 7.9%[15] Research and Development - Research and development expenses in Q1 2022 were CNY 17,194,224.36, an increase of 22.3% compared to CNY 14,002,612.44 in Q1 2021[20]

Financial Performance - In 2021, the company achieved a net profit attributable to shareholders of CNY 101,373,984.18, a decrease of 23.05% compared to CNY 131,744,072.25 in 2020[21] - The company's operating revenue for 2021 was CNY 2,021,565,770.40, representing a year-on-year increase of 9.62% from CNY 1,844,205,888.33 in 2020[21] - The net cash flow from operating activities decreased by 55.27% to CNY 153,226,821.14 in 2021, down from CNY 342,606,354.63 in 2020[21] - Basic earnings per share for 2021 were CNY 0.34, down 22.73% from CNY 0.44 in 2020[22] - The net profit after deducting non-recurring gains and losses was CNY 84,483,630.49, a decline of 28.71% from CNY 118,512,737.89 in 2020[21] - The total profit decreased to 12,090.42 million RMB, a decline of 32.46% year-on-year, attributed to rising operating costs from high wood pulp prices and logistics challenges[44] Assets and Liabilities - The company's total assets as of the end of 2021 were CNY 2,941,956,133.62, a decrease of 3.05% from CNY 3,034,488,631.74 at the end of 2020[21] - The company's total liabilities decreased from CNY 717,308,919.54 in 2020 to CNY 568,136,917.22 in 2021, a decline of approximately 20.83%[178] - Shareholders' equity increased from CNY 2,317,179,712.20 in 2020 to CNY 2,373,819,216.40 in 2021, reflecting a growth of approximately 2.43%[179] Revenue and Costs - Operating costs rose to 160,716.95 million RMB, up 16.80% year-on-year, primarily due to high import wood pulp prices and increased logistics costs[44] - The gross margin for the paper and paper products industry decreased by 5.17 percentage points to 20.53%[49] - The company experienced a significant increase in costs related to raw materials, which accounted for 62.51% of total costs, up from 59.21% in the previous year[54] Market and Production - The company holds approximately one-third of the domestic market share for tobacco industrial paper, with export sales leading in the domestic industry[36] - The company has a production capacity of 230,000 tons per year across 21 paper production lines, focusing on personalized product demands[39] - The company produced 177,375 tons of mechanism paper and sold 176,525 tons, representing a year-on-year increase of 9.35% and 11.96%, respectively[28] Research and Development - The company’s R&D expenses decreased by 11.52% to ¥78,013,483.08, indicating a potential shift in investment strategy[46] - R&D investment totaled 78,013,483.08 CNY, focusing on product and process innovation to enhance technological capabilities[61] - The company implemented 30 R&D projects, including key technologies for hemp fiber bleaching and new tobacco paper development[61] Governance and Compliance - The company adheres to strict governance practices, ensuring compliance with laws and regulations, and maintaining shareholder rights through transparent processes[87] - The board consists of nine members, including three independent directors, who actively participate in governance and training to fulfill their responsibilities[88] - The company has established a robust information disclosure management system to ensure accurate and timely communication with investors[89] Environmental and Sustainability Initiatives - The company is focusing on sustainable development, with an emphasis on resource conservation and environmentally friendly practices in response to stricter energy consumption and carbon neutrality policies[34] - The company has implemented environmental protection measures, including the upgrade of aeration systems and smart environmental protection projects, to ensure pollutant emissions meet standards[130] - The company achieved energy savings of over 1,500 tons of standard coal through initiatives such as promoting steam heat pump systems and optimizing energy systems[131] Challenges and Risks - The overall economic environment remains challenging, with global commodity prices rising and economic growth projected to slow down in the coming years[31] - The company faces risks from macroeconomic fluctuations, intensified market competition, raw material price volatility, and policy changes[79][80][82][83] - New project implementation faces risks related to regulatory approvals and potential delays from suppliers, impacting project timelines and capacity release[85] Employee and Management Structure - The company had a total of 2,035 employees, with 1,891 in the parent company and 144 in major subsidiaries[110] - The employee composition includes 1,704 production personnel, 52 sales personnel, 225 technical personnel, 22 financial personnel, and 32 administrative personnel[110] - The total remuneration for all directors, supervisors, and senior management was 5.2886 million yuan at the end of the reporting period[99]

Financial Performance - The company's operating revenue for Q3 2021 was ¥488,002,040.12, representing a year-over-year increase of 7.83%[4] - The net profit attributable to shareholders for Q3 2021 was ¥23,925,396.09, a decrease of 45.10% compared to the same period last year[4] - The basic earnings per share for Q3 2021 was ¥0.08, down 42.86% year-over-year[5] - The company's net profit for the first nine months of 2021 increased by 2.59% year-on-year, but the net profit in the third quarter saw a significant decline compared to the same period last year[13] - The total operating revenue for the first three quarters of 2021 was approximately CNY 1.495 billion, compared to CNY 1.376 billion in the same period of 2020, reflecting a year-on-year growth of about 8.63%[19] - Net profit for Q3 2021 was CNY 113,171,877.97, an increase of 6.4% compared to CNY 106,639,660.96 in Q3 2020[20] - Operating profit for Q3 2021 was CNY 137,747,747.36, down 6.0% from CNY 147,483,482.56 in the same period last year[20] - Total revenue from sales for the first three quarters of 2021 reached CNY 1,464,644,973.23, a 14.5% increase from CNY 1,279,175,354.05 in the first three quarters of 2020[22] - Total comprehensive income for Q3 2021 was CNY 113,171,877.97, compared to CNY 106,639,660.96 in Q3 2020[21] Assets and Equity - Total assets at the end of Q3 2021 amounted to ¥3,129,524,805.75, reflecting a 3.13% increase from the end of the previous year[5] - The total equity attributable to shareholders was ¥2,307,972,924.55, up 3.00% from the previous year[5] - As of September 30, 2021, the company's total assets were approximately CNY 3.130 billion, an increase from CNY 3.034 billion at the end of 2020[17] - The company reported a total equity of approximately CNY 2.391 billion as of September 30, 2021, compared to CNY 2.317 billion at the end of 2020, marking an increase of about 3.18%[17] Cash Flow - The company's net cash flow from operating activities increased by 31.76% year-to-date, totaling ¥97,490,740.05[5] - Cash flow from operating activities for Q3 2021 was CNY 97,490,740.05, an increase of 31.7% compared to CNY 73,992,715.62 in Q3 2020[23] - Cash inflow from investment activities in Q3 2021 was CNY 271,615,724.00, significantly higher than CNY 45,000,000.00 in Q3 2020[23] - Cash outflow for investment activities in Q3 2021 totaled CNY 267,985,431.59, compared to CNY 152,762,319.93 in Q3 2020[23] - The company's cash and cash equivalents decreased to approximately CNY 193.24 million from CNY 235.50 million at the end of 2020[15] - The net increase in cash and cash equivalents for Q3 2021 was -$42,258,460.07, compared to -$25,798,577.77 in the same period last year[24] - The beginning balance of cash and cash equivalents was $235,495,343.76, down from $290,342,184.89 year-over-year[24] - The ending balance of cash and cash equivalents stood at $193,236,883.69, a decrease from $264,543,607.12 compared to the previous year[24] Operational Challenges and Strategies - The company is facing challenges due to rising raw material prices and shipping costs, but these adverse effects are gradually diminishing as raw material prices have started to decline since the third quarter[13] - The company plans to adjust its product structure, reduce low-margin products, and strengthen cost control in the fourth quarter to ensure the completion of its annual production and operation plan[13] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 16,907[10] - The company completed the transfer of 100% equity of its controlling shareholder, Hengfeng Group, with the buyer paying the full price as per the agreement[12] Accounts Receivable and Income - Accounts receivable increased by 40.32% due to higher sales revenue and customer payment cycles[8] - The company reported a 67.27% increase in deferred income, attributed to an increase in government subsidies[8] - The company experienced a significant increase of 240.19% in other income, primarily from government subsidies[8] - Research and development expenses for Q3 2021 were CNY 54,306,614.61, a decrease of 11.9% from CNY 61,610,451.80 in Q3 2020[20]

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥1,007,006,197.70, representing a 9.02% increase compared to ¥923,676,474.93 in the same period last year[21]. - Net profit attributable to shareholders was ¥82,946,465.92, a 36.91% increase from ¥60,586,118.85 in the previous year[21]. - The net cash flow from operating activities was ¥128,774,693.97, showing a significant increase of 141.15% compared to ¥53,399,545.14 in the same period last year[21]. - Basic earnings per share for the first half of 2021 were ¥0.28, a 40.00% increase from ¥0.20 in the same period last year[22]. - The total profit for the first half of 2021 was ¥108,403,871.33, an increase of 10.0% from ¥97,556,076.42 in the same period of 2020[92]. - The total comprehensive income for the first half of 2021 was ¥88,625,387.19, up from ¥63,624,749.79 in the same period of 2020, indicating strong overall performance[93]. - The company reported a net profit of approximately 43.22 million for the current period, compared to a loss of 39.73 million in the previous period, indicating a turnaround in profitability[109]. - The total comprehensive income for the current period was approximately 88.63 million, reflecting a strong recovery from the previous period's losses[111]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,145,200,611.10, up 3.65% from ¥3,034,488,631.74 at the end of the previous year[21]. - The total current assets as of June 30, 2021, amount to RMB 1,612,159,747.03, an increase from RMB 1,475,826,448.27 at the end of 2020[83]. - The total liabilities increased to CNY 779,126,785.71 from CNY 717,308,919.54, reflecting a growth of about 8.63%[85]. - The total liabilities at the end of the reporting period were 830,292,052.9 RMB, showing a decrease from the previous balance[113]. - The total number of shares and capital structure of the company remained unchanged during the reporting period[73]. Cash Flow - Cash and cash equivalents at the end of the period reached ¥317,581,452.93, representing 10.1% of total assets, up 34.86% from the previous year[39]. - The cash inflow from operating activities for the first half of 2021 was CNY 994,695,828.18, an increase of 18.5% compared to CNY 839,303,599.77 in the first half of 2020[100]. - The net cash flow from operating activities was CNY 128,774,693.97, up from CNY 53,399,545.14 in the same period last year, representing a significant increase[100]. - The ending cash and cash equivalents balance was CNY 317,581,452.93, an increase from CNY 282,412,242.63 at the end of the first half of 2020[101]. Market and Sales - Domestic trade sales grew by 11.88%, while international trade sales increased by 2.19%[34]. - New product trade sales surged by 547.73%, indicating strong market demand for innovations[34]. - The company achieved a revenue of CNY 1.007 billion, representing a year-on-year growth of 9.02%[37]. - The company reported non-recurring gains of ¥8,219,841.00 from government subsidies related to normal business operations[23]. Research and Development - The company maintained R&D expenses at a stable level compared to the previous year, indicating a consistent investment in innovation[38]. - Research and development expenses remained stable at ¥34,183,879.53, slightly down from ¥34,300,060.02 in the previous year[91]. Environmental and Social Responsibility - The company is actively pursuing green manufacturing initiatives and has started the national certification process for green factories[35]. - The company is classified as a key pollutant discharge unit, with its main pollutants being wastewater, waste gas, and solid waste, all of which are treated to meet environmental standards before discharge[53]. - The company has implemented measures to strengthen environmental protection, including regular training and emergency drills for environmental incidents[57]. Corporate Governance - The company has committed to maintaining its independence and avoiding competition with its parent company through permanent commitments[62]. - Hengfeng Paper guarantees the independence of its management personnel, ensuring that key executives do not hold positions in other companies controlled by Hengfeng Group[64]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[59]. Shareholder Information - The total number of common shareholders as of the end of the reporting period is 16,540[74]. - The largest shareholder, Mudanjiang Hengfeng Paper Group Co., Ltd., holds 89,423,083 shares, accounting for 29.93% of the total shares[75]. - The second largest shareholder, Heilongjiang Investment Holding Co., Ltd., holds 9,240,000 shares, representing 3.09% of the total shares[75]. Accounting Policies - The financial statements are prepared based on the principle of continuous operation[123]. - The company adheres to the relevant enterprise accounting standards, ensuring the financial statements reflect its financial position accurately[123]. - The company recognizes financial assets when it becomes a party to the financial instrument contract, measuring them initially at fair value[137]. Credit and Risk Management - The company assesses credit risk on each reporting date, determining if there has been a significant increase in credit risk since initial recognition[141]. - The company reported a bad debt provision of CNY 21,942,587.88, which is 4.88% of the total accounts receivable[193]. - The company did not report any actual write-offs of accounts receivable during the period[196].