https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2023 年 10 月 12 日(星期四) 至 10 月 18 日(星期 三)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或 通过公司邮箱 sh356@hengfengpaper.com 进行提问。公司将在说明会 上对投资者普遍关注的问题进行回答。 牡丹江恒丰纸业股份有限公司（以下简称"公司"）已于 2023 年 8 月 24 日发布公司 2023 年度半年度报告，为便于广大投资者更全面 深入地了解公司 2023 年度半年度经营成果、财务状况，公司计划于 2023 年 10 月 19 日 上午 10:00-11:00 举行 2023 年半年度业绩说明 会，就投资者关心的问题进行交流。 一、 说明会类型 证券代码：600356 证券简称：恒丰纸业 公告编号：2023-019 牡丹江恒丰纸业股份有限公司 关于召开 2023 年半年度业绩说明会的公告 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法律责任。 重要内容提 ...

Financial Performance - The company's operating revenue for the first half of 2023 was CNY 1,166,960,862.21, representing a 5.24% increase compared to CNY 1,108,872,322.99 in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2023 was CNY 54,796,992.51, up 13.82% from CNY 48,143,958.88 in the previous year[20]. - Basic earnings per share for the first half of 2023 were CNY 0.18, a 12.50% increase from CNY 0.16 in the same period last year[21]. - The weighted average return on equity increased to 2.28%, up from 2.08% in the previous year, representing an increase of 0.2 percentage points[22]. - The net profit after deducting non-recurring gains was CNY 51,301,377.96, which is a 12.52% increase from CNY 45,591,688.79 in the same period last year[20]. - The company achieved operating revenue of CNY 116,696,000, representing a year-on-year increase of 5.24%[40]. - The net profit attributable to shareholders increased by 13.82% year-on-year, reaching CNY 5,479,000[40]. - The total profit for the first half of 2023 was ¥68.15 million, up from ¥62.71 million in the same period of 2022, reflecting a growth of 7.1%[113]. Cash Flow and Liquidity - The net cash flow from operating activities significantly decreased to CNY 50,731.20, a decline of 99.97% compared to CNY 194,837,158.66 in the same period last year[20]. - The company's cash flow from operating activities saw a significant decline of 99.97%, totaling CNY 50,731.20[47]. - The net cash flow from operating activities decreased to -¥22,081,216.68 from ¥137,639,311.60, indicating a significant decline in operational performance[119]. - Cash and cash equivalents at the end of the first half of 2023 were ¥287.89 million, down from ¥302.05 million at the end of the first half of 2022[116]. - Cash and cash equivalents at the end of the period stood at ¥249,552,850.15, compared to ¥222,155,518.43 at the end of the previous period, marking an increase of approximately 12.3%[120]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,058,870,044.17, a slight decrease of 0.03% from CNY 3,059,656,214.62 at the end of the previous year[20]. - The company's cash and cash equivalents at the end of the period amounted to ¥287,890,210.37, accounting for 9.41% of total assets, a decrease of 6.71% from the previous year[49]. - Total liabilities were CNY 578,301,971.37, down from CNY 588,777,169.54, showing a decrease of about 1.6%[102]. - Short-term borrowings increased by 23.33% to ¥292,562,065.75, accounting for 9.56% of total assets[50]. - The company's equity totaled ¥2,442,059,535.61, up from ¥2,419,102,141.60, reflecting a growth of 0.9%[106]. Research and Development - Research and development expenses rose by 26.60% year-on-year, amounting to CNY 41,784,515, reflecting increased investment in innovation[41]. - The company is actively developing new products in the food contact paper sector, with multiple products achieving domestic leading quality standards[32]. - The company added 4 new authorized patents during the reporting period, including 3 invention patents and 1 design patent[41]. - Research and development expenses for the first half of 2023 were ¥41,784,515.08, compared to ¥33,006,143.80 in the same period last year, marking a significant increase of 26.5%[108]. Market and Sales - The company achieved a historical high total sales volume of 47,000 tons for cigarette paper in 2022[29]. - The domestic market coverage rate for filter rod forming paper reached 100%[29]. - In 2022, aluminum foil liner paper sales reached 43,000 tons, with a market share of over 38.7%[32]. - The export market sales increased by 28.46% year-on-year, totaling 32,478 tons, while domestic market sales decreased by 10.73%[40]. Environmental and Social Responsibility - The company has been recognized as a high-tech enterprise by the Ministry of Science and Technology and the Chinese Academy of Sciences[27]. - The company aims to use 5 million kWh of green electricity from its rooftop solar power station by the end of the year, supporting its green energy transition[43]. - The company reported zero major environmental pollution incidents during the reporting period, with total pollutant emissions below the permitted levels[67]. - The company has implemented projects such as rooftop distributed photovoltaic power stations and new gas boilers, aiming to reduce carbon emissions by 1,600 tons and 1,200 tons respectively[76]. Governance and Compliance - The company has made a permanent commitment to maintain its independence as a listed company, ensuring that key management personnel do not hold positions in other companies controlled by it[79]. - The company guarantees the establishment of an independent financial department and accounting system, ensuring financial independence[81]. - The company has committed to avoiding any form of competition with its own subsidiaries, ensuring that they do not engage in similar business activities[84]. - The company has established a complete and independent governance structure, ensuring that its board and management operate independently[83]. Risks and Challenges - The company has outlined various risks in its operations, which are detailed in the "Management Discussion and Analysis" section of the report[7]. - The company faces risks from macroeconomic fluctuations, intensified market competition, and raw material price volatility[54][55][56]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 15,001[92]. - The largest shareholder, Mudanjiang Hengfeng Paper Group Co., Ltd., holds 89,423,083 shares, accounting for 29.93% of total shares[93]. - The first phase employee stock ownership plan holds 8,153,940 shares, which is 2.73% of total shares[93].

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]