Financial Performance - The company's operating revenue for the first half of 2021 was CNY 2,364,170,550.47, representing a 44.57% increase compared to CNY 1,635,363,178.49 in the same period last year[15]. - The net profit attributable to shareholders of the listed company reached CNY 502,113,306.19, a significant increase of 153.01% from CNY 198,454,125.73 year-on-year[15]. - The net profit after deducting non-recurring gains and losses was CNY 457,568,053.18, up 165.45% from CNY 172,375,622.64 in the previous year[15]. - The net cash flow from operating activities was CNY 589,822,637.97, compared to a negative cash flow of CNY -11,109,046.04 in the same period last year[15]. - Basic earnings per share for the first half of 2021 were CNY 0.1319, an increase of 153.17% from CNY 0.0521 in the same period last year[16]. - The weighted average return on net assets increased by 2.06 percentage points to 3.37% from 1.31% year-on-year[16]. - The company's gross profit margin improved due to a rise in product prices, contributing to the increase in revenue[26]. - The company reported a significant decrease in financial expenses, with a net financial cost of CNY -70,598,944.33, compared to CNY -111,262,136.67 in the previous year[26]. Assets and Liabilities - The net assets attributable to shareholders of the listed company at the end of the reporting period were CNY 14,181,937,043.26, a decrease of 9.00% from CNY 15,583,961,058.60 at the end of the previous year[15]. - Total assets decreased by 3.13% to CNY 18,633,261,657.69 from CNY 19,235,471,109.23 at the end of the previous year[15]. - Cash and cash equivalents decreased by 43.02% to CNY 3,299,514,199.15, compared to CNY 5,790,362,709.17 at the end of the previous year[27]. - Accounts receivable increased by 73.56% to CNY 681,862,584.22, attributed to rising sales prices[27]. - Inventory rose by 11.08% to CNY 1,482,847,099.37, indicating an increase in stock levels[27]. - The total amount of restricted assets at the end of the reporting period was CNY 371,587,638.44, including cash and accounts receivable financing[29]. - The total liabilities increased to ¥3,469,825,637.20 from ¥2,690,786,490.96, representing a growth of about 29%[83]. - Current liabilities rose to ¥2,579,854,495.91, up from ¥1,814,218,761.59, indicating an increase of approximately 42%[82]. Environmental and Social Responsibility - The company has invested significantly in environmental protection, positioning itself as a leader in compliance with the stricter pollution standards implemented in 2019[20]. - The company reported a total wastewater discharge of 274,333.26 tons in the first half of 2021, with COD emissions of 2.8 tons and ammonia nitrogen emissions of 0.23 tons[44]. - The average COD concentration was 8.98 mg/L and the average ammonia nitrogen concentration was 0.79 mg/L in the first half of 2021[44]. - The company has planted over 6,000 trees and 1,000 shrubs, covering a green area of 205,000 square meters, contributing to carbon reduction efforts[54]. - The company has actively engaged in poverty alleviation projects, establishing multiple labor-intensive projects to support local communities[55]. - All environmental monitoring results during the reporting period met the standards, with third-party testing conducted regularly[51]. Research and Development - The company has established a strong R&D framework, collaborating with prestigious universities and research institutions, enhancing its innovation capabilities in new materials[21]. - The production of ultra-high power graphite electrodes has reached international advanced levels, with products comparable to those from leading global manufacturers[22]. - The company is committed to scientific research and development, integrating it with large-scale production to drive growth[36]. - The company is actively pursuing technological innovation to improve production efficiency and product quality, aligning with its quality policy[36]. Market Strategy and Risks - The company aims to enhance its market presence by focusing on domestic market development and adjusting supply strategies to maximize benefits amid international trade challenges[35]. - The company faces operational risks due to international trade friction and economic slowdown, necessitating timely adjustments in management and marketing strategies[35]. - The company is addressing industry capacity expansion risks by optimizing production structures to mitigate price fluctuations and maintain performance levels[36]. - The company anticipates a growing market for ultra-high power graphite electrodes as the electric arc furnace steelmaking process gains traction, projecting a significant increase in demand by 2030[20]. Corporate Governance - The company completed the election of the eighth board of directors and the appointment of senior management personnel[41]. - The company has experienced a leadership change, with the appointment of Qiu Zongyuan as the new General Manager and Zhang Tianjun as the Deputy General Manager[40]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[62]. - The company has committed to transparency and compliance in related party transactions to protect the interests of minority shareholders[62]. Shareholder Information - The company plans to distribute a cash dividend of 0.5 RMB per share (before tax) for the 2020 fiscal year, totaling approximately 1,902,985,184 RMB[71]. - As of the end of the reporting period, the total number of ordinary shareholders is 253,656[73]. - The largest shareholder, Liaoning Fangda Group Industrial Co., Ltd., holds 1,524,413,321 shares, accounting for 40.05% of the total shares[74]. - The actual controller of the company, Mr. Fang Wei, increased his shareholding by 13,473,800 shares, representing 0.35% of the total share capital, with a total investment of approximately 99,998,238 RMB[70]. Accounting and Financial Reporting - The company adheres to the latest accounting standards issued by the Ministry of Finance, ensuring accurate financial reporting[115]. - The company’s financial statements are based on the assumption of continued operation, with no significant doubts regarding its ability to continue as a going concern[114]. - The company recognizes revenue when control of the goods is transferred to the customer, which is when the customer can direct the use of the goods and obtain almost all economic benefits[38]. - The company recognizes financial assets or liabilities upon becoming a party to a financial instrument contract[125]. - The company applies the effective interest method for subsequent measurement of financial assets and liabilities[127].

Financial Performance - Net profit attributable to shareholders of the listed company was RMB 133,858,572.65, representing a significant increase of 71.91% year-on-year[5]. - Operating revenue for the period was RMB 930,412,386.20, reflecting a growth of 13.28% compared to the same period last year[5]. - Basic earnings per share increased to RMB 0.0352, up 23.08% from RMB 0.0286 in the same period last year[5]. - The weighted average return on net assets rose to 0.86%, an increase of 0.34 percentage points compared to the previous year[5]. - The company reported non-recurring gains and losses totaling RMB -3,365,386.50 for the period[6]. - Investment income increased to RMB 7,225,590.07 from a loss of RMB 15,664.37 in the previous year[10]. - Other income rose by 106.66% to RMB 6,028,449.55 due to reclassification of certain government subsidies[10]. - The net profit for Q1 2021 was ¥140,668,285.73, compared to ¥65,373,296.13 in Q1 2020, representing a significant increase of 115.0%[23]. - The net profit attributable to the parent company shareholders for Q1 2021 was ¥133,858,572.65, compared to ¥77,863,815.31 in Q1 2020, representing an increase of approximately 71.8%[24]. - The total comprehensive income for Q1 2021 was ¥140,657,605.88, compared to ¥65,373,296.13 in Q1 2020, marking an increase of about 115.0%[24]. Assets and Liabilities - Total assets at the end of the reporting period reached RMB 19,383,494,360.30, an increase of 0.77% compared to the end of the previous year[5]. - The company's current assets totaled ¥13,235,172,955.16, slightly up from ¥13,174,207,868.41 at the end of 2020, indicating a growth of about 0.46%[16]. - The company's total liabilities were reported at ¥2,689,314,373.47, a slight decrease from ¥2,690,786,490.96, indicating a reduction of about 0.05%[17]. - Non-current assets totaled ¥6,148,321,405.14, up from ¥6,061,263,240.82, reflecting an increase of about 1.43%[16]. - The company's long-term investments in equity reached ¥2,556,961,735.58, slightly up from ¥2,538,643,866.06, indicating a growth of approximately 0.72%[16]. - Total liabilities for Q1 2021 were ¥2,669,765,067.91, down from ¥3,403,790,131.25 in Q1 2020, showing a reduction of 21.5%[21]. Cash Flow - The net cash flow from operating activities was RMB 49,100,236.83, a recovery from a negative cash flow of RMB -104,159,607.53 in the previous year[5]. - Cash flow from investing activities showed a net outflow of RMB 1,857,554,644.31, indicating increased cash payments for investments[10]. - The net cash flow from operating activities for Q1 2021 was ¥49,100,236.83, a recovery from a negative cash flow of -¥104,159,607.53 in Q1 2020[28]. - The company reported a net decrease in cash and cash equivalents of -2,008,069,728.76 RMB for Q1 2021, compared to -1,065,675,245.21 RMB in Q1 2020[31]. - The ending balance of cash and cash equivalents was 2,720,749,891.92 RMB, down from 7,773,079,492.89 RMB at the end of Q1 2020[31]. Shareholder Information - The total number of shareholders at the end of the reporting period was 234,509[6]. - The largest shareholder, Liaoning Fangda Group Industrial Co., Ltd., held 1,524,413,321 shares, accounting for 40.05% of the total shares[7]. - The company’s actual controller increased his shareholding by 0.35%, acquiring 13,473,800 shares for RMB 99,998,238[11]. Operational Insights - The company has not disclosed any new product developments or market expansion strategies in this report[8]. - The company is in the process of relocating subsidiaries to optimize operations, with plans for new production facilities underway[13]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[23]. Expenses - Total operating costs for Q1 2021 were ¥778,969,551.42, up from ¥682,388,848.75 in Q1 2020, reflecting a year-over-year increase of 14.2%[23]. - Research and development expenses for Q1 2021 amounted to ¥16,046,184.34, slightly higher than ¥15,070,474.03 in Q1 2020, indicating a focus on innovation[23]. - The company reported a decrease in sales expenses, which were ¥17,046,409.13 in Q1 2021, down from ¥26,499,387.30 in Q1 2020, representing a decline of approximately 35.6%[26]. - Financial expenses for Q1 2021 showed a significant improvement, with a net expense of -¥28,418,389.29 compared to -¥61,477,518.29 in Q1 2020, reflecting a reduction of approximately 53.8%[26].

Financial Performance - The net profit attributable to shareholders for 2020 was CNY 547,458,328.20, a decrease of 72.85% compared to 2019[13]. - The operating revenue for 2020 was CNY 3,539,172,251.49, down 47.57% from the previous year[13]. - The net cash flow from operating activities was CNY 579,183,207.12, representing an 86.84% decline year-on-year[13]. - The company reported a net profit of CNY 384,315,360.09 after deducting non-recurring gains and losses, a decrease of 78.68% from 2019[13]. - Basic earnings per share decreased by 73.58% to CNY 0.14 in 2020 from CNY 0.53 in 2019[14]. - The weighted average return on equity dropped by 11.09 percentage points to 3.58% in 2020 compared to 14.67% in 2019[14]. - The total comprehensive income for 2020 was CNY 536,692,045.92, a decrease from CNY 1,952,924,020.43 in 2019[155]. - The company reported a significant decrease in cash flow from operating activities, down 86.84% to approximately 579.18 million RMB[28]. - The total operating revenue for 2020 was approximately 3.54 billion RMB, a decrease of 47.57% compared to the previous year[28]. Assets and Liabilities - The total assets as of the end of 2020 amounted to CNY 19,235,471,109.23, an increase of 4.11% compared to the end of 2019[13]. - Total liabilities amounted to CNY 2,690,786,490.96, slightly up from CNY 2,608,718,288.09, showing a growth of about 3.1%[148]. - Shareholders' equity increased to CNY 16,544,684,618.27 from CNY 15,867,447,459.61, marking an increase of approximately 4.3%[148]. - Cash and cash equivalents decreased by 41.46% to ¥5,790,362,709.17, accounting for 30.10% of total assets, primarily due to unredeemed financial products and declining sales prices[41]. - The company reported a significant increase in trading financial assets, rising to CNY 4,051,987,498.10 from CNY 1,580,182,959.19 in the previous year[146]. Revenue and Sales - Total revenue for Q3 2020 was CNY 965,021,133.50, while Q4 revenue was CNY 938,787,939.50[15]. - Net profit attributable to shareholders for Q3 2020 was CNY 201,953,947.99, decreasing to CNY 147,050,254.48 in Q4 2020[15]. - The company’s products are sold in over 60 countries and regions, including Europe, the United States, and Southeast Asia[19]. - The company produced 187,000 tons of graphite carbon products, including 155,000 tons of graphite electrodes and 26,000 tons of carbon bricks[27]. - The carbon industry revenue decreased by 47.43% to ¥3,012,233,673.69, with a gross margin reduction of 16.46 percentage points to 24.25%[30]. Research and Development - The company increased its R&D expenses by 64.11% to approximately 87.74 million RMB, reflecting a commitment to innovation[28]. - The company established several research centers in collaboration with prestigious universities, enhancing its R&D capabilities[24]. - The company aims to strengthen its research and development capabilities, particularly in graphene and carbon composite materials, to improve market competitiveness[56]. Investment and Acquisitions - The company acquired a 5.65% stake in Jiujiang Bank, contributing to its long-term equity investments[22]. - The company plans to invest up to ¥3.45 billion in acquiring a stake in Kober (Jiangsu) Carbon Chemical Co., Ltd. to extend its upstream supply chain[46]. - The company completed the acquisition of 100% equity in Kaobusi (Jiangsu) Carbon Chemical Co., Ltd. for a total payment of approximately RMB 335.31 million (equivalent to USD 49.25 million) in September 2020[79]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of CNY 5 per 10 shares, totaling CNY 1,902,985,184 (including tax) based on the total share capital[3]. - The company has not made any adjustments to its profit distribution policy during the reporting period, maintaining its established cash dividend strategy[59]. - The total distributable profit at the end of 2020 was 5,844,585,975.76 RMB, after accounting for statutory surplus reserves and retained earnings[60]. Environmental and Social Responsibility - The company is committed to enhancing safety and environmental management, focusing on risk identification and rectification in operational processes[57]. - The company implemented strict COVID-19 prevention measures while maintaining production operations, ensuring employee safety and meeting product demand[85]. - The company emphasized its commitment to social responsibility, actively participating in poverty alleviation and community development initiatives[84]. - The company completed nearly 60 environmental technology renovation projects, significantly enhancing its pollution control capabilities[87]. Corporate Governance - The report indicates that the company has no controlling shareholder relationships among the top shareholders, ensuring independent governance[104]. - The company has maintained a stable shareholder structure with no major fluctuations in shareholding percentages among the top shareholders[104]. - The independent directors participated in all 17 board meetings, ensuring full attendance[130]. Future Outlook - The company plans to focus on market expansion and new product development in the upcoming year[156]. - The company aims to enhance its market position by focusing on technological innovation and sustainable development strategies, targeting to become a leading carbon enterprise globally[54]. - The company provided a future outlook projecting a revenue growth of 10% for the next fiscal year[116].

Financial Performance - Net profit attributable to shareholders was ¥400,408,072.72, a decrease of 79.29% year-on-year[7]. - Operating revenue for the first nine months was ¥2,600,384,311.99, down 53.86% from the same period last year[7]. - The company reported a significant decrease in net profit and revenue, indicating challenges in the current market environment[7]. - Basic earnings per share decreased by 85.31% to ¥0.1052[7]. - The weighted average return on net assets fell by 11.59 percentage points to 2.63%[7]. - Total operating revenue for Q3 2020 was ¥965,021,133.50, a decrease of 43.1% compared to ¥1,696,460,872.87 in Q3 2019[27]. - Net profit for Q3 2020 was ¥200,860,293.02, a decline of 58.7% from ¥485,516,169.74 in Q3 2019[30]. - Total profit for Q3 2020 was ¥249,113,733.28, a decrease of 52.7% compared to ¥525,983,522.38 in Q3 2019[30]. - Total operating revenue for the first three quarters of 2020 was ¥2,600,384,311.99, a decrease of 53.8% from ¥5,635,425,294.75 in the same period of 2019[27]. - The total profit for Q3 2020 was approximately ¥103.87 million, compared to ¥419.13 million in Q3 2019, a decline of 75.2%[33]. Cash Flow and Assets - The net cash flow from operating activities was ¥195,191,906.21, a significant decline of 94.74% compared to the previous year[7]. - Cash and cash equivalents decreased by 37.50% from CNY 9,891,610,441.14 to CNY 6,182,550,731.96, primarily due to reduced cash receipts during the period[12]. - Cash and cash equivalents at the end of Q3 2020 amounted to 4,991,347,212.99 RMB, down from 5,957,561,995.90 RMB at the end of Q3 2019, representing a decrease of approximately 16%[39]. - The total cash inflow from operating activities was 2,003,807,154.01 RMB, significantly lower than 7,080,641,721.91 RMB in the previous year, representing a decline of approximately 72%[37]. - The company reported a total tax payment of 242,931,338.80 RMB, down from 676,357,645.22 RMB in the same period of 2019, indicating a decrease of approximately 64%[37]. - Cash inflow from operating activities totaled approximately ¥2.38 billion in the first three quarters of 2020, down from ¥8.02 billion in the same period of 2019, a decrease of 70.3%[35]. Shareholder Information - The total number of shareholders at the end of the reporting period was 236,591[10]. - The largest shareholder, Liaoning Fangda Group Industrial Co., Ltd., held 1,524,413,321 shares, accounting for 40.05% of total shares[10]. Investments and Acquisitions - The company acquired 5.65% equity in Jiujiang Bank for CNY 101,780.36 million, completing the share transfer on August 27, 2020[14]. - The company is in the process of acquiring 100% equity of Kaobosi (Jiangsu) Carbon Chemical Co., Ltd. for CNY 33,530.6473 million (approximately USD 4.925 million)[14]. Research and Development - Research and development expenses increased by 82.64% from CNY 33,099,819.86 to CNY 60,455,093.28, reflecting increased funding for R&D projects[13]. - Research and development expenses increased to ¥18,411,705.19 in Q3 2020, up 50.0% from ¥12,254,547.37 in Q3 2019[29]. Asset and Liability Changes - Total assets at the end of the reporting period reached ¥19,012,939,630.87, an increase of 2.91% compared to the end of the previous year[7]. - Total liabilities reached ¥2,761,807,749.02, up from ¥2,608,718,288.09, indicating a growth of 5.8%[22]. - Owner's equity increased to ¥16,251,131,881.85 from ¥15,867,447,459.61, showing a rise of 2.4%[22]. - Long-term equity investments increased to ¥3,105,239,805.89 from ¥1,734,407,123.09, a growth of 79.0%[25]. - Current liabilities rose to ¥2,299,719,275.37 from ¥2,170,791,453.50, reflecting an increase of 5.9%[22]. Operational Efficiency and Strategy - The company is actively working on the relocation of subsidiaries, with plans to complete the necessary property rights documentation post-relocation[17]. - The company has signed investment cooperation agreements for the relocation of its subsidiary, aiming to enhance operational efficiency[17]. - The company has outlined a strategic plan for future expansion and development in response to government initiatives[17]. - The company has committed to avoiding unnecessary related party transactions and ensuring fair market pricing to protect minority shareholders[18].

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 1,635,363,178.49, a decrease of 58.48% compared to CNY 3,938,964,421.88 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was CNY 198,454,125.73, down 86.30% from CNY 1,448,091,399.27 year-on-year[17]. - The net cash flow from operating activities was CNY -11,109,046.04, a decline of 100.35% compared to CNY 3,170,563,956.30 in the previous year[17]. - The basic earnings per share decreased by 90.31% to CNY 0.0521 from CNY 0.5378 in the same period last year[18]. - The weighted average return on net assets dropped by 9.49 percentage points to 1.31% from 10.80% year-on-year[18]. - The decline in revenue and profit was primarily due to the impact of the pandemic and a decrease in product sales prices[18]. - The company's total revenue for the first half of 2020 was CNY 1,635.36 million, a decrease of 58.48% year-on-year[33]. - The net profit attributable to the parent company was CNY 198.45 million, down 86.30% compared to the same period last year[33]. - Research and development expenses increased by 101.69% to CNY 42.04 million, reflecting a commitment to innovation[35]. - The company reported a net profit of ¥106,795.95 million for the period, with a slight decrease in operating profit[44]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 18,907,607,934.35, an increase of 2.34% compared to CNY 18,476,165,747.70 at the end of the previous year[17]. - The total liabilities increased to CNY 2,856,870,368.62 from CNY 2,608,718,288.09, representing a rise of approximately 9.53%[107]. - The company's total assets reached CNY 18,907,607,934.35 as of June 30, 2020, compared to CNY 18,476,165,747.70 at the end of 2019, indicating an increase of about 2.33%[107]. - The total owner's equity reached CNY 16,050,737,565.73, up from CNY 15,867,447,459.61, indicating a growth of approximately 1.15%[107]. - The total liabilities at the end of the current period are CNY 5,206,036,784.52, reflecting a stable financial position[148]. Investments and Acquisitions - The company plans to invest CNY 34.5 million to acquire a stake in Kober (Jiangsu) Carbon Chemical Co., Ltd. to secure raw material supply[39]. - Long-term equity investments increased by 182.09% to CNY 1,577.51 million, indicating a strategic focus on expanding investments[37]. - The company transferred 70% equity and part of the debt of its subsidiary Jilin Fangda Jiangcheng Carbon Fiber Co., Ltd. to a non-related party for optimizing asset structure and controlling operational risks[42]. - The company completed a capital reserve transfer plan, increasing its total share capital from 2,718,550,263 shares to 3,805,970,368 shares, with a distribution ratio of 4 shares for every 10 shares held, without cash dividends[88]. - The company received approval from the National Market Supervision Administration for the acquisition, indicating regulatory compliance and progress in the acquisition process[81]. Research and Development - The company has a comprehensive research and development framework, collaborating with prestigious universities to advance new product development and innovation[29]. - The company aims to enhance its research and development efforts to align with production needs, ensuring a balance between scientific work and large-scale production[47]. - The company is actively pursuing new product development and market expansion strategies to maintain competitiveness in the carbon products sector[45]. - The company has established a new research institute, Chengdu Fangda Carbon Research Institute Co., Ltd., to enhance its research capabilities[153]. Environmental and Social Responsibility - The company invested approximately CNY 18.92 million in poverty alleviation projects, establishing Gansu Fangda Jiuxing Template Co., Ltd. for the processing and sales of steel and aluminum templates[68]. - Cumulative investment in poverty alleviation projects reached about CNY 27.06 million, focusing on labor-intensive projects such as garment processing and template production[70]. - The company’s main pollutants include wastewater and waste gas, with wastewater discharge of 227,533.89 tons and COD emissions of 3.74 tons in the first half of 2020[72]. - The average COD concentration in wastewater was 13.16 mg/L, and ammonia nitrogen concentration was 0.59 mg/L, both meeting the discharge standards[72]. - No environmental administrative penalties were reported during the reporting period, indicating compliance with environmental regulations[78]. Corporate Governance - The company held its 2019 annual shareholders' meeting on May 15, 2020, where a resolution was passed to change the board of directors[51]. - The actual controller and shareholders committed not to engage in competitive businesses with Hai Long Technology, now known as Fangda Carbon[53]. - The company appointed Tianzhi International Accounting Firm for the 2020 financial report audit, with a one-year term[58]. - The report highlights that the shareholding structure remains stable, with no changes in controlling shareholders or actual controllers[94]. - The company appointed a new financial director, Yu Yong, on May 9, 2020, following the resignation of the previous director[101]. Risk Management - The company faces market risks due to potential demand shrinkage in downstream industries like metallurgy and chemicals, which could impact performance[46]. - The company emphasizes a market-oriented approach to mitigate risks, focusing on quality and service enhancement to optimize customer and sales channels[46]. - The company is addressing industry capacity expansion risks by promoting technological innovation and adjusting product structure to improve operational quality[47]. - The company has committed to avoiding unnecessary related party transactions and ensuring fair market practices[57]. Financial Reporting and Compliance - The financial statements are prepared in accordance with the latest accounting standards issued by the Ministry of Finance, reflecting the company's financial position and operating results accurately[157]. - The company applies the accounting treatment for business combinations under common control and non-common control, ensuring proper recognition of goodwill and net assets[161][162]. - The consolidated financial statements are based on the financial statements of the parent company and its subsidiaries, prepared in accordance with relevant accounting standards[165]. - The company recognizes expected credit losses as a reduction in profit or as a gain based on changes in loss provisions[177].

Financial Performance - The company's net profit attributable to shareholders for 2019 was CNY 2,016,201,316.76, a decrease of 63.95% compared to CNY 5,592,809,096.85 in 2018[13] - Total operating revenue for 2019 was CNY 6,750,905,186.42, down 42.06% from CNY 11,650,954,412.81 in the previous year[13] - The net cash flow from operating activities was CNY 4,399,908,313.39, a decline of 23.00% compared to CNY 5,714,253,829.91 in 2018[13] - Basic earnings per share for 2019 were CNY 0.75, a decrease of 65.12% from CNY 2.15 in 2018[14] - Diluted earnings per share were also CNY 0.75, down 64.62% from CNY 2.12 in the previous year[14] - The basic earnings per share (EPS) after deducting non-recurring gains and losses was 0.67 CNY, a decrease of 68.54% compared to the previous year[15] - The weighted average return on equity (ROE) was 14.67%, down 29.4 percentage points from the previous year[15] - Total revenue for the year was 6,750,905,186.42 RMB, a decrease of 42.06% year-on-year, while net profit attributable to the parent company was 201,620.13 RMB, down 63.95% from the previous year[31] Assets and Liabilities - The company's total assets increased by 14.82% to CNY 18,476,165,747.70 at the end of 2019, up from CNY 16,091,379,185.05 at the end of 2018[13] - The net assets attributable to shareholders rose by 19.07% to CNY 15,033,923,961.90 at the end of 2019, compared to CNY 12,625,994,927.11 at the end of 2018[13] - The company reported a total of 6.64 billion CNY in financial assets at the beginning of the year, which decreased to 2.41 billion CNY by year-end, reflecting a substantial reduction in financial assets[20] - The company's total liabilities decreased significantly, with accounts payable decreasing by 59.73% to 83,885,095.14 CNY[45] - Total liabilities reached ¥2.61 billion in 2019, slightly up from ¥2.58 billion in 2018, indicating a growth of about 5%[176] Revenue Breakdown - Domestic revenue was 3,934,285,637.42 RMB, down 48.57% year-on-year, while international revenue was 2,731,426,509.85 RMB, down 28.59%[33] - The total revenue for 2019 was approximately ¥6.75 billion, a decrease of 42.3% compared to ¥11.65 billion in 2018[179] - The cash inflow from sales of goods and services was ¥6,523,391,505.73, down from ¥9,961,933,309.89 in 2018, indicating a decline in revenue generation[188] Research and Development - Research and development expenses increased by 184.64% to 53,462,733.34 RMB, indicating a strong focus on innovation and product upgrades[31] - The company has a strong research and development framework, including partnerships with prestigious universities and research centers, facilitating continuous new product development[27] - The company established a graphene research institute in collaboration with Lanzhou University to enhance R&D capabilities[42] Market and Industry Insights - The company operates in the graphite and carbon products manufacturing sector, with a diverse product range including graphite electrodes and carbon materials for various industries[21] - In 2019, China's graphite electrode production reached 690,000 tons, a year-on-year increase of 3.16%, while sales were 669,000 tons, up 5.92% compared to the previous year[23] - The average operating rate of graphite electrode manufacturers in China was approximately 70% by the end of 2019, an increase of 10% year-on-year[24] - The cost of graphite electrodes in China showed a downward trend in 2019 due to falling raw material prices, with sufficient supply leading to a market situation of oversupply[25] Environmental and Sustainability Efforts - The company emphasizes sustainable development through continuous innovation in production management, aiming for environmentally friendly and resource-saving practices[28] - The company has established an ISO14001 environmental management system and has received certifications for ISO9001, ISO14001, and OHSAS18001[110] - The company is actively promoting the "garden-style factory" initiative, enhancing its environmental image and compliance efforts[114] Shareholder and Equity Information - The company plans to increase its total share capital by 1,087,420,105 shares through a capital reserve transfer, resulting in a new total of 3,805,970,368 shares[3] - The company has established a cash dividend policy prioritizing cash dividends over stock dividends, with a proposal to increase capital stock by 40% through capital reserves[63] - The company did not propose a cash profit distribution plan for ordinary shareholders in 2019, despite having positive distributable profits[65] Management and Governance - The company appointed new board members and management, including Liu Yinan and Zhang Tianjun as directors, and Zhang Tianjun as the general manager[143] - The company has undergone multiple management adjustments throughout 2019, indicating a focus on optimizing leadership roles[144] - The company is committed to maintaining a robust governance framework through the appointment of qualified independent directors[144] Financial Audit and Compliance - The company received an unqualified audit opinion for its financial statements, reflecting fair presentation in accordance with accounting standards[164] - The audit was conducted by Tianzhi International Accounting Firm, ensuring compliance with professional ethics and standards[165] - The supervisory board effectively monitored the company's operations and financial status throughout the reporting period[159]

Financial Performance - Net profit attributable to shareholders was ¥77,863,815.31, a decrease of 89.08% year-on-year[5] - Operating revenue for the quarter was ¥821,312,958.57, down 54.40% from the same period last year[5] - Basic earnings per share decreased by 92.75% to ¥0.0286 from ¥0.3946 in the previous year[5] - The company's total revenue for Q1 2020 was ¥821,312,958.57, a decrease of 54.40% compared to ¥1,801,003,212.57 in Q1 2019, primarily due to a decline in product prices[10] - Operating profit for Q1 2020 was ¥124,551,029.60, down from ¥858,532,101.28 in Q1 2019, representing a decline of 85.5%[25] - Net profit for Q1 2020 was ¥65,373,296.13, compared to ¥739,893,703.03 in Q1 2019, a decrease of 91.2%[26] - Gross profit for Q1 2020 was CNY 173.41 million, resulting in a gross margin of 29.6%[27] - Net profit for Q1 2020 was CNY 108.39 million, down 79.3% from CNY 522.71 million in Q1 2019[28] Cash Flow - Net cash flow from operating activities was -¥104,159,607.53, a decline of 105.12% compared to the previous year[5] - The company's net cash flow from operating activities for Q1 2020 was CNY 96,571,166.39, down 94.5% from CNY 1,753,076,335.85 in the same period last year[33] - Cash flow from operating activities showed a net outflow of CNY 104.16 million, compared to an inflow of CNY 2,035.59 million in Q1 2019[31] - The company reported a net cash flow from financing activities of ¥386,041,983.79, an increase of 156.48% compared to ¥150,513,812.76 in Q1 2019, primarily due to increased financing[11] - The net cash flow from financing activities in Q1 2020 was CNY 187,936,987.92, up 97.6% from CNY 95,198,750.00 in the same quarter last year[34] Assets and Liabilities - Total assets at the end of the reporting period reached ¥18,768,950,280.93, an increase of 1.58% compared to the previous year[5] - Total current assets as of March 31, 2020, amounted to CNY 14,527,035,595.01, an increase from CNY 14,235,329,599.24 as of December 31, 2019, representing a growth of approximately 2.05%[19] - Total liabilities as of March 31, 2020, were CNY 2,834,269,393.40, compared to CNY 2,608,718,288.09 as of December 31, 2019, indicating an increase of about 8.6%[20] - Total assets increased to ¥15,819,250,420.24 in Q1 2020 from ¥15,387,644,912.25 in Q1 2019, an increase of 2.8%[23] - Total liabilities rose to ¥3,960,134,547.74 in Q1 2020, compared to ¥3,639,282,495.33 in Q1 2019, an increase of 8.8%[23] Shareholder Information - The total number of shareholders at the end of the reporting period was 233,777[7] - The largest shareholder, Liaoning Fangda Group, holds 40.05% of the shares, amounting to 1,088,866,658 shares[8] Research and Development - The company's R&D expenses for Q1 2020 were ¥87,291,616.49, a decrease of 41.04% from ¥148,040,912.33 in Q1 2019, mainly due to increased investment in R&D[11] - Research and development expenses for Q1 2020 were ¥15,070,474.03, up from ¥7,977,119.56 in Q1 2019, an increase of 88.5%[24] Investment Activities - The company plans to invest $50 million (approximately ¥34.5 million) to acquire a 46.73% stake in a joint venture with Coal Chemical Co., aiming to gain full control over the target company[12] - The company reported a significant decrease in cash inflow from other operating activities, which was CNY 433,620,741.36 in Q1 2020 compared to CNY 261,944,924.50 in Q1 2019, reflecting a 65.4% increase[33] Other Financial Metrics - The weighted average return on net assets fell by 4.97 percentage points to 0.52%[5] - The company reported non-recurring gains and losses totaling -¥67,113,819.45 for the quarter[6] - The company's gross profit margin decreased significantly, with operating costs dropping by 31.27% to ¥590,286,826.39 from ¥858,809,725.84, reflecting a reduction in product costs[10]

Financial Performance - In 2019, the company's operating revenue was CNY 6,750,905,186.42, a decrease of 42.06% compared to CNY 11,650,954,412.81 in 2018[19] - The net profit attributable to shareholders was CNY 2,016,201,316.76, down 63.95% from CNY 5,592,809,096.85 in the previous year[19] - The net profit after deducting non-recurring gains and losses was CNY 1,802,658,223.76, a decline of 67.38% compared to CNY 5,526,015,642.39 in 2018[19] - The net cash flow from operating activities was CNY 4,399,908,313.39, a decrease of 23.00% from CNY 5,714,253,829.91 in 2018[19] - Total revenue for the year was 6,750,905,186.42 RMB, a decrease of 42.06% compared to the previous year[42] - The net profit attributable to the parent company was 201,620.13 million RMB, down 63.95% year-on-year[42] - The gross margin for the carbon sector was 40.72%, a decrease of 35 percentage points compared to the previous year[45] - The company’s operating cash flow decreased by 23.00% to 4,399,908,313.39 RMB[45] Assets and Equity - As of the end of 2019, the total assets amounted to CNY 18,476,165,747.70, an increase of 14.82% from CNY 16,091,379,185.05 in 2018[19] - The net assets attributable to shareholders reached CNY 15,033,923,961.90, up 19.07% from CNY 12,625,994,927.11 in 2018[19] - Cash and cash equivalents increased by 214.06% to ¥9,891,610,441.14, primarily due to the redemption of financial products[58] - Long-term equity investments rose by 132.36% to ¥1,270,823,353.99, due to the acquisition of a 16.25% stake in Jilin Chemical Fiber[58] Share Capital and Dividends - The company proposed a capital reserve transfer plan, increasing the total share capital from 2,718,550,263 shares to 3,805,970,368 shares without cash dividends[5] - The company has not distributed any cash dividends or bonus shares for the year 2019, maintaining a focus on capital reserves[83] - The company plans to implement a capital reserve conversion to increase share capital, with a proposal to convert 1 share for every 4 shares held[85] - The total share capital decreased from 2,720,676,493 shares to 2,718,550,263 shares after the repurchase of 2,126,230 restricted shares[111] Research and Development - Research and development expenses increased by 184.64% to 53,462,733.34 RMB, indicating a focus on innovation[45] - The number of R&D personnel was 168, accounting for 3.44% of the total workforce[54] - The company’s technology center was recognized as a national enterprise technology center, emphasizing its commitment to technological innovation[55] - The company has established a cooperation framework agreement with Lanzhou University to collaborate on research and development in the field of graphene materials[84] Market Position and Strategy - The company has developed into a leading production and supply base for high-quality carbon products, with products sold in over 60 countries and regions[28] - The company aims to enhance its market position by focusing on technological innovation and product structure adjustment, targeting high-quality development[35] - The company is committed to optimizing resource allocation and implementing a brand strategy to enhance its market position[72] - The company is exploring potential mergers and acquisitions to bolster its market position and expand its service offerings[123] Environmental and Social Responsibility - The company is committed to environmental sustainability, aligning with national policies to enhance industrial environmental standards[33] - The company has established an ISO14001 environmental management system and has obtained certifications for ISO9001, ISO14001, and OHSAS18001[145] - The company actively engages in social responsibility, focusing on harmonious development with society, environment, and employees[135] - The company donated 100 million RMB to the Fushun Municipal Government for poverty alleviation and charitable activities during the reporting period[136] Employee and Management - The total number of employees in the company is 4,882, with 2,350 in the parent company and 2,532 in major subsidiaries[195] - The company has implemented a comprehensive training system to enhance employee skills and overall quality[197] - The board of directors consists of 11 members, including 4 independent directors, ensuring diverse expertise and governance quality[199] - The company has established a remuneration and assessment committee to oversee the compensation of directors and senior management[192] Legal and Compliance - The company has not faced any penalties from securities regulatory authorities in the past three years[194] - The company maintains a robust internal control system in compliance with relevant laws and regulations[199] - The supervisory board strictly adheres to the Company Law, Securities Law, and relevant regulations to effectively supervise the company's operations and protect shareholder interests[200] - The company ensures transparent information disclosure, allowing all investors equal access to information, thereby safeguarding the rights of minority investors[200]

Financial Performance - Net profit attributable to shareholders decreased by 57.27% to CNY 1.93 billion year-on-year[6] - Operating revenue fell by 38.58% to CNY 5.64 billion compared to the same period last year[6] - Basic earnings per share dropped by 71.68% to CNY 0.7163[6] - The weighted average return on net assets decreased by 29.06 percentage points to 14.22%[6] - Total revenue for Q3 2019 was CNY 1,696,460,872.87, a decrease of 45.0% compared to CNY 3,093,162,602.41 in Q3 2018[28] - Net profit for Q3 2019 was CNY 40,467,352.64, a decline of 86.4% compared to CNY 296,371,967.16 in Q3 2018[30] - The total comprehensive income attributable to the parent company for the first three quarters of 2019 was approximately ¥4.52 billion, down 34.5% from ¥6.86 billion in the same period of 2018[32] - The net profit for Q3 2019 was ¥360.06 million, down 67.1% from ¥1,093.96 million in Q3 2018[34] Assets and Liabilities - Total assets increased by 13.78% to CNY 18.31 billion compared to the end of the previous year[6] - The company's total assets increased by 261.71% for financial assets measured at fair value, reaching CNY 1,111,846,449.26 compared to CNY 307,385,613.46 last year[12] - Total current assets increased to ¥14,877,269,494.17, up from ¥12,853,747,001.01, representing a growth of approximately 15.7% year-over-year[23] - Total liabilities decreased to ¥2,497,068,387.78 from ¥2,578,007,024.01, a decrease of approximately 3.1%[24] - Total liabilities rose to CNY 3,461,233,447.38 in Q3 2019, up 49.2% from CNY 2,318,284,132.57 in Q3 2018[27] - Total equity attributable to shareholders increased to ¥14,902,187,144.68 from ¥12,625,994,927.11, an increase of about 18.0%[24] Cash Flow - Net cash flow from operating activities decreased by 21.38% to CNY 3.71 billion year-to-date[6] - The net cash flow from operating activities for the first three quarters of 2019 was CNY 3,165,008,105.26, a decrease of 32.6% compared to CNY 4,705,795,874.86 in the same period of 2018[40] - Total cash inflow from operating activities was CNY 7,080,641,721.91, down 24.5% from CNY 9,377,889,518.28 year-on-year[40] - Cash inflow from investment activities reached CNY 5,111,848,070.01, an increase of 42.0% from CNY 3,600,613,657.19 in the same period last year[41] - The net cash flow from financing activities was CNY 126,039,374.84, a significant improvement from a negative CNY 3,768,587,029.34 in the previous year[41] Research and Development - Research and development expenses rose by 118.34% to CNY 33,099,819.86 from CNY 15,159,840.46, reflecting increased investment in R&D[14] - Research and development expenses for Q3 2019 were CNY 12,254,547.37, significantly higher than CNY 4,969,416.92 in Q3 2018, indicating a focus on innovation[29] - Research and development expenses increased to ¥10.70 million in Q3 2019, up 122.3% from ¥4.81 million in Q3 2018[33] Shareholder Information - The total number of shareholders reached 245,191 at the end of the reporting period[9] - The largest shareholder, Liaoning Fangda Group Industrial Co., Ltd., holds 40.02% of the shares[9] Government and Legal Matters - Government subsidies recognized in the current period amounted to CNY 69.35 million[7] - The company has committed to avoid illegal occupation of funds and assets of the listed company, ensuring fair market practices in related transactions[20] - There are no disputes regarding land and property ownership for the subsidiaries, and normal operations have not been affected[19] Strategic Initiatives - The company signed a cooperation framework agreement with Lanzhou University on August 29, 2019, to establish a graphene research institute, indicating a focus on new technology development[15] - The company plans to expand its market presence and invest in new technologies to drive future growth[30] - Future guidance indicates a continued emphasis on improving operational efficiency and exploring potential mergers and acquisitions to drive growth[25]