Financial Performance - The company's operating revenue for 2021 was approximately ¥4.65 billion, representing a 31.44% increase compared to ¥3.54 billion in 2020[17]. - The net profit attributable to shareholders for 2021 was approximately ¥1.08 billion, a significant increase of 98.11% from ¥547 million in 2020[17]. - The basic earnings per share for 2021 was ¥0.29, reflecting a 107.14% increase from ¥0.14 in 2020[18]. - The weighted average return on equity for 2021 was 7.15%, an increase of 3.57 percentage points from 3.58% in 2020[18]. - The total assets at the end of 2021 were approximately ¥18.50 billion, a decrease of 3.81% from ¥19.24 billion at the end of 2020[17]. - The net assets attributable to shareholders at the end of 2021 were approximately ¥14.76 billion, down 5.26% from ¥15.58 billion at the end of 2020[17]. - The company reported a quarterly revenue of approximately ¥1.43 billion for Q2 2021, which was the highest among the four quarters[19]. - The gross margin for the carbon industry segment increased by 5.23 percentage points to 29.48%[36]. - The total operating revenue for 2021 reached RMB 4,651,772,746.11, a 31.6% increase from RMB 3,539,172,251.49 in 2020[167]. - Net profit for 2021 was RMB 1,115,576,682.69, representing a significant increase of 107.5% compared to RMB 536,681,419.75 in 2020[168]. Cash Flow and Financial Position - The net cash flow from operating activities for 2021 was negative at approximately -¥37.84 million, a decrease of 106.53% compared to ¥579 million in 2020[17]. - Cash and cash equivalents at the end of the period were CNY 7,756,346,758.33, an increase of 33.95% from the previous year[48]. - The company reported a total current asset of 12.32 billion RMB in 2021, down from 13.17 billion RMB in 2020, indicating a decrease of about 6.4%[160]. - The company reported a cash and cash equivalents balance of ¥7,421,524,979.39 at year-end, up from ¥5,498,473,810.37 at the beginning of the year[174]. - The total liabilities at the end of the period were 4,330,166,798.01, reflecting the company's financial obligations[190]. - The company’s stockholders' equity totaled 12,108,455,846.58, which is essential for assessing its financial health[186]. Audit and Compliance - The company received a standard unqualified audit report from Tianzhi International Accounting Firm[3]. - The board of directors and senior management confirmed the accuracy and completeness of the annual report[3]. - The internal control audit report issued by Tianzhi International CPA provided a standard unqualified opinion[100]. - The audit committee held 6 meetings during the reporting period, ensuring the accuracy and completeness of the financial reports[90]. - The company confirmed that its financial reports for 2020 were true, complete, and accurate, with no significant misstatements or fraud[90]. Research and Development - The company has established a research and development system with leading-edge technology, collaborating with renowned institutions like Tsinghua University and Lanzhou University[29]. - The company achieved a significant increase in investment income, up 249.76% to RMB 413,278,092.00, primarily from the disposal of stocks[34]. - Research and development expenses decreased by 20.69% to RMB 69,584,880.14, reflecting reduced material inputs for projects[33]. - The total number of R&D personnel was 296, accounting for 10.28% of the total workforce[45]. Environmental and Social Responsibility - The company has implemented strict safety and environmental management practices, updating pollution control equipment to meet 2021 emission standards[25]. - The company reported a wastewater discharge of 516,500 tons, with COD emissions of 4.98 tons and ammonia nitrogen emissions of 0.34 tons during the reporting period[102]. - The company actively engaged in social responsibility initiatives, including creating over 2,500 local jobs in rural revitalization projects[114]. - The company is committed to achieving environmental standards that exceed national requirements and aims to reach advanced levels comparable to developed countries within the next 10 to 20 years[115]. Governance and Management - The company emphasized investor relations management, engaging in over a hundred interactions with investors regarding operational status and development plans[65]. - The company held 5 shareholder meetings during the reporting period, reviewing 15 proposals, ensuring compliance with legal procedures and protecting minority shareholders' rights[64]. - The company is focused on improving its governance structure and transparency in operations, adhering to relevant laws and regulations[63]. - The company has a diverse leadership team with members holding multiple positions across various subsidiaries, indicating a strong interconnected management structure[80]. Market and Industry Outlook - The carbon industry is expected to see continued growth, with electric arc furnace steel production projected to account for over 15% of total crude steel output by 2025, driving demand for graphite electrodes[27]. - The company is focusing on extending and improving its industrial chain to ensure long-term development[51]. - The company plans to achieve breakthroughs in large-scale graphite electrode sales, emphasizing market-oriented strategies and prioritizing order selection based on profitability[59]. - The company recognizes operational risks due to international trade tensions and economic slowdowns, and will adapt its management and marketing strategies accordingly[62].

Financial Performance - The company's operating revenue for Q3 2021 was CNY 1,204,277,543.46, representing a year-on-year increase of 24.79%[4] - The net profit attributable to shareholders for Q3 2021 was CNY 371,301,658.19, an increase of 83.85% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 235,035,371.33, up 24.61% year-on-year[4] - The basic earnings per share for Q3 2021 was CNY 0.0976, an increase of 83.85% year-on-year[5] - Total revenue for the first three quarters of 2021 reached approximately RMB 3.57 billion, a 37.2% increase from RMB 2.60 billion in the same period of 2020[23] - Operating profit for the third quarter of 2021 was RMB 1.07 billion, compared to RMB 459.8 million in the third quarter of 2020, reflecting a significant increase[25] - Net profit attributable to shareholders of the parent company for the third quarter of 2021 was RMB 873.4 million, up from RMB 400.4 million in the same quarter of 2020, representing a 118.5% increase[26] - The basic earnings per share for Q3 2021 were RMB 0.2295, compared to RMB 0.1052 in Q3 2020, indicating an increase of 118.5%[26] Cash Flow and Liquidity - The cash flow from operating activities for the year-to-date period reached CNY 516,171,993.46, reflecting a significant increase of 164.44% compared to the same period last year[4] - Operating cash inflow for Q3 2021 reached ¥3,650,707,942.11, a significant increase of 53.3% compared to ¥2,383,345,379.36 in Q3 2020[28] - Net cash flow from operating activities was ¥516,171,993.46, up from ¥195,191,906.21 in the same period last year, representing a growth of 164.5%[28] - The net increase in cash and cash equivalents for the period was ¥335,178,258.35, contrasting with a decrease of ¥3,676,079,586.44 in Q3 2020, indicating improved liquidity management[30] Assets and Liabilities - Total assets at the end of Q3 2021 were CNY 18,364,934,661.65, a decrease of 4.53% from the end of the previous year[5] - Total liabilities as of the end of the third quarter of 2021 amounted to RMB 2.85 billion, an increase from RMB 2.69 billion at the end of the same period in 2020[22] - The company's total equity decreased to RMB 15.52 billion in Q3 2021 from RMB 16.54 billion in Q3 2020, indicating a decline of approximately 6.2%[22] - The company's accounts receivable increased by 77.04% year-on-year, reaching CNY 695,552,775.41, due to rising sales prices[8] - The total assets of the company as of September 30, 2021, are ¥18,364,934,661.65, down from ¥19,235,471,109.23 at the end of 2020[20] Investments and Shareholder Information - The company plans to invest ¥600 million in the Tianjin Haihe Fangda Industrial Investment Fund, representing 59.41% of the fund's total subscription amount[17] - The total number of common shareholders at the end of the reporting period is 253,441[11] - The largest shareholder, Liaoning Fangda Group Industrial Co., Ltd., holds 1,524,413,321 shares, accounting for 40.05% of total shares[11] - The company has a long-term equity investment valued at ¥2,501,235,974.03 as of September 30, 2021[19] Operational Costs and Expenses - The total cost of operations for the first three quarters of 2021 was RMB 2.39 billion, up from RMB 1.96 billion in the same period of 2020, reflecting a 22% increase[23] - Research and development expenses for the third quarter of 2021 were RMB 56.8 million, slightly down from RMB 60.5 million in the same quarter of 2020[25] - The company reported a financial income of RMB 137.9 million in Q3 2021, compared to RMB 193.9 million in Q3 2020, showing a decrease of 29%[25] Investment Activities - Total cash inflow from investment activities amounted to ¥4,830,000,336.70, an increase of 50.5% from ¥3,208,108,953.34 in Q3 2020[30] - Net cash flow from investment activities was ¥1,479,767,823.86, a recovery from a negative cash flow of ¥4,100,081,703.20 in the previous year[30] - Cash received from other investment-related activities was ¥3,070,000,000.00, compared to ¥2,310,000,000.00 in Q3 2020, showing a growth of 33%[28] - The company received cash from investment returns totaling ¥133,420,413.99, which is an increase from ¥112,602,562.47 in the same period last year[30] Dividend and Capital Distribution - The company paid out ¥1,841,410,497.69 in dividends and interest, a significant increase from ¥32,516,614.88 in the previous year, reflecting a change in capital distribution strategy[30]

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].