Financial Performance - The company achieved operating revenue of CNY 21,701,617,268.32 in 2022, representing a year-on-year increase of 4.84%[25]. - The net profit attributable to shareholders was CNY 2,691,262,599.60, a decrease of 19.42% compared to the previous year[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 2,328,894,845.78, an increase of 23.53% year-on-year[25]. - The company's total assets reached CNY 44,925,491,219.31 at the end of 2022, reflecting an 11.51% increase from the previous year[25]. - The weighted average return on equity decreased to 12.93%, down 10.82 percentage points from the previous year[26]. - The company’s cash flow from operating activities was CNY 506,497,694.79, a notable recovery from a negative cash flow in the previous year[25]. - The company’s net assets attributable to shareholders increased by 21.79% to CNY 23,053,341,900.80 by the end of 2022[25]. - The company reported a significant increase in shipment volume for its anode materials, driven by the booming demand in the new energy vehicle and energy storage markets[33]. Dividends and Profit Distribution - The company plans to distribute a cash dividend of RMB 3.00 per 10 shares, totaling RMB 671,354,367.30 (including tax) based on 2,237,847,891 shares available for distribution[5]. - As of December 31, 2022, the company's distributable profit was RMB 3,450,687,783.57[5]. - The company has no plans for capital reserve conversion into share capital for the year 2022[5]. Risk Management and Compliance - The company emphasizes the importance of risk awareness regarding future plans and development strategies[7]. - The company has detailed potential risks in the "Management Discussion and Analysis" section of the report[10]. - There are no violations of decision-making procedures regarding external guarantees[9]. - The company has not faced any issues with a majority of directors being unable to guarantee the authenticity and completeness of the annual report[9]. - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties[8]. Research and Development - The company has made significant progress in R&D, with over 30 new patents registered and new products such as OLED polarizers undergoing customer certification[42]. - The company’s R&D expenses increased by 33.11% to CNY 952.57 million, reflecting a focus on enhancing product innovation in the polarizer business[91]. - The company holds over 1,000 technology patents and has more than 20 years of experience in the polarizer field, establishing itself as a global leader in this sector[70]. - The company is in the product certification phase for POLED polarizer development, aiming to enrich product applications[113]. Market Position and Strategy - The company aims to become a global leader in both lithium battery anode materials and polarizer markets, leveraging over 20 years of experience in lithium battery materials[55]. - The company plans to expand its silicon-based anode capacity in Ningbo, with a planned capacity of 40,000 tons, and the first phase of 10,000 tons is under construction, expected to start trial production in early 2024[37]. - The company has established strategic partnerships with major global lithium battery manufacturers, with the sales proportion from the top ten customers further increasing[62]. - The company is accelerating the construction of integrated production bases in Sichuan and Yunnan to enhance its graphite self-sufficiency rate and reduce outsourcing[63]. Production and Capacity - The company has completed a capacity layout of approximately 700,000 tons of anode materials by the end of 2022, with 200,000 tons already in production[62]. - The company is actively constructing new production lines for polarizers, with one line in Guangzhou already in mass production and others in various stages of construction and certification[44]. - The company has achieved mass production of long-cycle products (340/350) in the energy storage sector and is accelerating the development of third and fourth generation silicon-based anode materials[155]. Corporate Governance - The company held six shareholder meetings during the reporting period, ensuring compliance with the Company Law and Articles of Association[175]. - The company maintains a "three separations and two independents" approach with its controlling shareholder, ensuring independent operations of the board, supervisory board, and management[176]. - The board of directors strictly adheres to legal and regulatory requirements, with a well-defined structure and responsibilities[177]. - The supervisory board effectively monitors the company's operations and financial status, ensuring compliance and protecting shareholder rights[178]. Shareholder and Management Changes - The company reported the resignation of former chairman Zheng Yonggang due to illness on February 10, 2023[192]. - Zheng Ju was elected as the new chairman of the board on March 23, 2023[192]. - The total number of shares held by the board members increased from 10,943,017 at the beginning of the year to 21,992,517 at the end of the year, representing an increase of 100%[188]. - The company plans to continue its stock option incentive program to motivate and retain key personnel[190]. Future Outlook - The company anticipates continued growth in the lithium battery materials industry, driven by the global push for carbon neutrality and increasing demand in the new energy vehicle and energy storage markets[50]. - The global anode material industry is projected to grow rapidly, driven by the booming downstream new energy vehicle and energy storage industries, with a shipment volume expected to increase by over 4.5 times compared to 2021[147]. - The company is focused on continuous upgrades and innovations in manufacturing processes to improve operational efficiency and reduce costs[157].

信会计师事务所(特殊普通合 CHINA SHU LUN PAN CERTIFIED PUBLIC ACCOUNTANTS 关于对宁波杉杉股份有限公司监管工作函的回复 信会师函字[2023]第 ZA017 号 上海证券交易所上市公司管理一部: 本所根据贵部所发文号为"上证公函【2023】0013 号"《关于宁波杉杉股份 有限公司信息披露相关事项的监管工作函》的要求,现就询问函中要求进行说明。 | 引用交易所本次问询函中所列问题 | 宋体加黑 | | --- | --- | | 本次会计师对问询的回复 のお気になると、その他のお気になると、その他のお気になると、 | 宋体 | 本次问询函: "前期,你公司独立董事、保荐机构中天国富证券、年审会计师事务所立 信会计师事务所(特殊普通合伙)均在投诉事项回复或相关公告中,发表明 确意见称上海钢石和杉杉控股不存在一致行动关系。请前述主体逐一明确前 期核实有关事项的方式及过程,发表相关意见的具体依据及其充分性,说明 是否勤勉尽责。" 会计师答复: 一、 我所未接到监管部门专门对杉杉控股和上海钢石是否是一致行动人进 行核查并发表明确意见的要求,亦从未发表明确意见称上海钢石和杉 ...

证券代码：600884 证券简称：杉杉股份 公告编号：临 2023-034 宁波杉杉股份有限公司 关于召开 2022 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。 重要内容提示： 会议召开时间：2023 年 4 月 27 日(星期四)上午 10:00-11:00 会议召开地点：上海证券交易所上证路演中心（网址：http://roadsho w.sseinfo.com/） 会议召开方式：视频录播和网络互动 投资者可于 2023 年 4 月 20 日(星期四)至 4 月 26 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"栏目或通过宁波杉杉股份有限公司 （下称"公司"）邮箱 ssgf@shanshan.com 进行提问。公司将在信息披露允许的 范围内，于说明会上对投资者普遍关注的问题进行回答。 公司已于 2023 年 4 月 20 日发布公司 2022 年年度报告，为便于广大投资者 更全面深入地了解公司 2022 年度经营成果、财务状况，公司计划于 2023 年 4 月 27 日上午 ...

Financial Performance - The company's operating revenue for Q3 2022 was approximately ¥5.07 billion, a decrease of 12.08% compared to the same period last year[4]. - Net profit attributable to shareholders for Q3 2022 was approximately ¥547.73 million, down 72.81% year-on-year[4]. - Basic earnings per share for Q3 2022 were ¥0.245, a decrease of 80.12% compared to the same period last year[8]. - Total operating revenue for the first three quarters of 2022 reached ¥15,840,567,383.04, a slight increase from ¥15,711,728,861.51 in the same period of 2021[17]. - Net profit for the first three quarters of 2022 was ¥2,313,335,986.48, compared to ¥2,959,674,155.06 in 2021, reflecting a decrease of approximately 21.8%[18]. - Operating profit for the first three quarters of 2022 was ¥2,763,066,979.81, down from ¥4,024,992,806.12 in the previous year[18]. - The total comprehensive income for the third quarter of 2022 was ¥2,218,090,384.39, slightly lower than ¥2,268,101,727.69 in the previous year[18]. Assets and Liabilities - Total assets at the end of Q3 2022 were approximately ¥46.89 billion, an increase of 16.39% compared to the end of the previous year[5]. - Shareholders' equity attributable to the parent company at the end of Q3 2022 was approximately ¥22.93 billion, up 21.12% year-on-year[5]. - The total current liabilities increased to RMB 10.67 billion from RMB 9.25 billion, reflecting a rise of approximately 15.3%[15]. - Total liabilities as of the end of the third quarter of 2022 amounted to ¥22,909,063,851.49, up from ¥20,938,094,457.01 in 2021[16]. - The company's total equity increased to ¥23,983,051,112.89 in 2022 from ¥19,350,374,546.75 in 2021, indicating growth of about 24%[16]. Cash Flow - The company reported a net cash flow from operating activities of approximately ¥1.79 billion for the first nine months of 2022[5]. - The cash inflow from operating activities for the first three quarters of 2022 was CNY 15.42 billion, an increase of 41.5% compared to CNY 10.90 billion in the same period of 2021[19]. - The net cash flow from operating activities was CNY 1.79 billion, a significant improvement from a negative CNY 874.53 million in the first three quarters of 2021[19]. - The cash inflow from financing activities was CNY 13.20 billion, an increase of 3.74% compared to CNY 12.72 billion in the previous year[20]. - The net cash flow from financing activities was CNY 2.31 billion, a decrease of 68.3% from CNY 7.28 billion in the same period of 2021[20]. Investments and Expenses - Research and development expenses increased to ¥715,657,889.38 in 2022 from ¥550,692,831.08 in 2021, marking a rise of approximately 30%[17]. - The cash outflow for investing activities totaled CNY 5.64 billion, a decrease of 29.1% from CNY 7.94 billion in the previous year[20]. - The net cash flow from investing activities was negative CNY 5.11 billion, worsening from negative CNY 3.07 billion in the same period of 2021[20]. - The company reported a decrease in tax expenses to ¥452,065,916.81 in 2022 from ¥1,061,570,003.78 in 2021[18]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 166,911[9]. - The company completed the issuance of Global Depositary Receipts (GDRs) on July 28, 2022, raising approximately USD 319 million through the issuance of 15,442,300 GDRs, representing 77,211,500 underlying A-shares[11][12]. - The company plans to proceed with a non-public offering of A-shares, pending approval from the shareholders' meeting and the China Securities Regulatory Commission[12].

Financial Performance - The company's operating revenue for the first half of 2022 was approximately CNY 10.77 billion, an increase of 8.30% compared to CNY 9.95 billion in the same period last year[20]. - The net profit attributable to shareholders of the listed company reached approximately CNY 1.66 billion, representing a significant increase of 118.65% from CNY 759.73 million year-on-year[20]. - The net profit after deducting non-recurring gains and losses was approximately CNY 1.42 billion, up 96.33% from CNY 723.51 million in the previous year[20]. - The net cash flow from operating activities was approximately CNY 1.56 billion, a substantial recovery from a negative cash flow of CNY -1.55 billion in the same period last year[20]. - The total assets of the company at the end of the reporting period were approximately CNY 42.30 billion, an increase of 5.00% from CNY 40.29 billion at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company were approximately CNY 20.35 billion, reflecting a growth of 7.51% from CNY 18.93 billion at the end of the previous year[20]. - The basic earnings per share for the first half of 2022 were CNY 0.774, a 65.76% increase compared to CNY 0.467 in the same period last year[21]. - The weighted average return on net assets increased to 8.419%, up by 2.257 percentage points from 6.162% in the previous year[21]. Market Position and Demand - The company is a global leader in advanced materials manufacturing, focusing on lithium battery anode materials and polarizers, aiming to dominate these two niche markets[23]. - In the first half of 2022, the company's anode materials shipment ranked second in the industry, with a significant increase in output driven by the booming demand for new energy vehicles and energy storage[28]. - The demand for new energy vehicles in China surged, with cumulative production and sales reaching 2.661 million and 2.6 million units respectively, a year-on-year increase of 120%[29]. - The energy storage market demand exceeded expectations, with a significant increase in shipments due to the rising energy prices in Europe, leading to a more than 200% year-on-year growth in energy storage battery shipments[29]. - The company's lithium battery materials shipment is expected to reach approximately 542,000 tons in the first half of 2022, representing a year-on-year growth of 69%[30]. - The company has established strategic partnerships with leading battery manufacturers such as CATL, LGES, ATL, and BYD, enhancing its market position in the anode materials sector[28]. - The company anticipates continued strong growth in the lithium battery materials industry, driven by global carbon neutrality goals and increasing demand for new energy vehicles and energy storage solutions[31]. Production and Capacity Expansion - The company plans to strengthen its production capacity with new projects, including a 200,000-ton integrated base in Meishan, Sichuan, and a 300,000-ton integrated base in Anning, Yunnan[28]. - The company has initiated the construction of a 300,000-ton integrated base in Yunnan and a 40,000-ton silicon-based anode material project in Ningbo to enhance production capacity[56]. - The company’s integrated production capacity is expected to reach 180,000 tons, with over 90,000 tons of graphitization capacity[46]. - The company has established stable relationships with major clients such as BOE, LG Display, and Sharp, ensuring consistent demand for its products[36]. Research and Development - The company’s R&D expenses increased by 18.77% to ¥419,296,358.56, up from ¥353,042,165.13 in the previous year[68]. - As of June 30, 2022, the company holds 189 authorized patents in anode materials, including 151 invention patents[44]. - The company has applied for over 1,000 LCD polarizer-related patents globally, with 965 patents granted, including 921 invention patents[49]. - The company has developed high-energy density fast-charging technology for its anode materials, which is now being applied in downstream automotive companies[43]. Environmental Compliance and Sustainability - The company operates several key pollution discharge units and is committed to environmental compliance, with specific measures in place for waste gas and wastewater treatment[97]. - The company reported a total pollutant discharge of 70.01 tons in the first half of 2022, with specific emissions including 3.996 tons of particulate matter, 5.418 tons of sulfur dioxide, and 7.304 tons of nitrogen oxides[98]. - The company has implemented pollution control facilities that meet national standards, ensuring that waste gas and wastewater are treated to meet discharge requirements before being released[99]. - The company actively promotes energy conservation and emission reduction through increased investment in environmental protection equipment and technological upgrades[104]. - The company emphasizes a low-carbon green operation model, focusing on resource efficiency and the use of clean energy to reduce greenhouse gas emissions[107]. Financial Management and Investments - The company sold 100% equity of Hunan Yongshan Lithium Industry Co., Ltd., generating corresponding investment income during the reporting period[54]. - The company has strengthened its supply chain by collaborating with key suppliers to secure high-quality raw materials for the next 3-5 years[47]. - The company reported a net cash flow from financing activities of -¥1,708,344,209.76, compared to a positive cash flow of ¥7,203,459,475.50 in the first half of 2021[149]. - The company has committed to ensuring that any business opportunities within its main business scope are directed to the company, avoiding conflicts of interest[111]. Risks and Challenges - The company faces risks from policy changes affecting the lithium battery and polarizer industries, with strategies to enhance profitability through continuous technological innovation[83]. - Market competition is intensifying in the lithium battery materials sector, with potential structural oversupply risks; the company plans to enhance competitiveness through technology and product upgrades[84]. - Raw material price fluctuations pose a significant risk, particularly for petroleum coke and needle coke, which constitute a large portion of production costs[85]. - The company acknowledges the challenge posed by emerging display technologies like OLED and Micro LED to its LCD polarizer business, which may affect demand and profit margins[87]. - The company is exposed to foreign exchange risks due to international procurement and sales, involving currencies like USD and EUR, and plans to monitor exchange rate dynamics closely[88]. Corporate Governance and Compliance - The company has committed to maintaining the authenticity, accuracy, and completeness of the information provided, as well as ensuring the independence of the listed company and avoiding competition with peers[110]. - The company has proposed no profit distribution or capital reserve increase for the half-year period[92]. - The company has implemented a stock option and restricted stock incentive plan, which was approved in March 2022, to motivate and retain key personnel[93]. - The company has made adjustments to its stock option incentive plan, including changes to the list of incentive recipients and the exercise price of stock options[94].

Financial Performance - The company reported a revenue of ¥5,029,500,864.87 for Q1 2022, representing a year-on-year increase of 25.76%[4] - Net profit attributable to shareholders reached ¥807,056,428.55, a significant increase of 166.93% compared to the same period last year[5] - The net profit excluding non-recurring gains and losses was ¥615,171,739.88, reflecting a year-on-year growth of 118.74%[5] - The basic earnings per share (EPS) was ¥0.377, an increase of 102.48% year-on-year[4] - Net profit for Q1 2022 was ¥836,471,026.90, compared to ¥358,587,208.93 in Q1 2021, representing a 133.3% increase[19] - The company reported a significant increase in investment income of ¥339,201,995.15 in Q1 2022, compared to ¥36,123,813.08 in Q1 2021[19] - The total comprehensive income amounted to CNY 835,149,817.14, a significant improvement from a loss of CNY 323,251,699.94 in the previous year[20] Cash Flow and Assets - The company's cash flow from operating activities was ¥107,359,328.32, with a notable improvement in cash flow management compared to the previous year[4] - Cash inflow from operating activities was CNY 4,614,726,154.91, compared to CNY 2,215,859,949.86 in the same quarter last year[22] - Cash outflow from operating activities totaled CNY 4,507,366,826.59, resulting in a net cash flow from operating activities of CNY 107,359,328.32, a turnaround from a net outflow of CNY 1,028,518,944.63 last year[22] - The company's cash and cash equivalents were reported at CNY 5.65 billion, down from CNY 9.29 billion, indicating a decrease of approximately 39.88%[15] - The ending balance of cash and cash equivalents was CNY 4,631,671,119.93, compared to CNY 4,256,555,122.97 at the end of the same quarter last year[23] - The company's total current assets amounted to approximately CNY 16.97 billion, a decrease from CNY 18.98 billion as of December 31, 2021, representing a decline of about 10.63%[15] Business Segments - The net profit from the anode materials business was ¥146,555,100, a year-on-year increase of 43.44%, driven by strong demand in the electric vehicle sector[6] - The polarizer business generated a net profit of ¥353,485,200, maintaining stable growth[6] Liabilities and Equity - Total liabilities for Q1 2022 were ¥19,661,173,810.27, down from ¥20,938,094,457.01 in Q1 2021[17] - The equity attributable to shareholders increased to ¥19,773,028,612.51 in Q1 2022 from ¥18,928,381,475.79 in Q1 2021[17] Investments and Acquisitions - The company completed the acquisition of LG Chem's LCD polarizer business in February 2021, with the mainland China delivery finalized on February 1, 2021[12] - The company terminated the equity transfer of its Taiwan subsidiary with LG Chem on February 1, 2022, focusing solely on the mainland China transaction[12] - On January 6, 2022, the board approved the sale of 100% equity in Hunan Yongshan Lithium Industry Co., Ltd., to optimize resource allocation and enhance core competitiveness[13] Shareholder Information - The top ten shareholders include Shanshan Group Co., Ltd. holding 656,022,036 shares and Shanshan Holdings Co., Ltd. holding 63,392,189 shares[11] Other Financial Metrics - The company's long-term equity investments increased to CNY 6.48 billion from CNY 6.33 billion, reflecting a growth of about 2.36%[15] - The company reported a significant increase in other receivables, which rose to CNY 593.88 million from CNY 346.96 million, an increase of approximately 71.14%[15] - Research and development expenses for Q1 2022 amounted to ¥174,788,511.01, an increase from ¥149,627,171.95 in Q1 2021[19] - The company's long-term borrowings increased to ¥3,856,857,617.25 in Q1 2022 from ¥3,369,958,766.39 in Q1 2021[17]

Financial Performance - The company's operating revenue for 2021 reached ¥20,699,382,624.28, a 151.94% increase compared to ¥8,215,896,691.46 in 2020[16]. - Net profit attributable to shareholders was ¥3,339,696,517.63, marking a significant increase of 2,320.00% from ¥138,004,106.09 in the previous year[16]. - The total assets at the end of 2021 were ¥40,288,469,003.76, reflecting a 64.17% increase from ¥24,540,658,795.91 in 2020[16]. - Basic earnings per share for 2021 were ¥2.040, a dramatic increase of 2,003.09% from ¥0.097 in 2020[17]. - The weighted average return on equity rose to 23.75%, an increase of 22.54 percentage points from 1.21% in 2020[17]. - The company reported non-recurring gains of ¥1,454,376,391.77 in 2021, compared to ¥301,787,703.06 in 2020[20]. - The total equity attributable to shareholders increased by 52.55% to ¥18,928,381,475.79 at the end of 2021 from ¥12,407,995,674.62 in 2020[16]. - The company's net cash flow from operating activities was negative at ¥-364,495,067.15, a decrease of 210.69% compared to ¥329,292,015.26 in 2020[16]. - The company achieved a substantial investment income of approximately $2.39 billion, a year-on-year increase of 514.96% from $389 million[75]. - The effective tax expense rose dramatically to approximately $1.10 billion, reflecting an increase of 1,812.51% compared to $58 million last year[75]. Dividend Policy - The company plans to distribute a cash dividend of RMB 3.3 per 10 shares, totaling RMB 707,163,579.54, which represents 21.17% of the net profit attributable to shareholders for 2021[4]. - The company has a cash dividend policy prioritizing stable and continuous returns to investors, with a preference for cash dividends when conditions allow[186]. - The company implemented a cash dividend policy, distributing at least 10% of the annual distributable profit in cash, with a cumulative cash distribution over the last three years not less than 30% of the average annual distributable profit[187]. - The company's profit distribution plan requires approval from two-thirds of the voting rights at the shareholders' meeting after independent directors provide their opinions[188]. - The company's cash dividend policy is subject to change only under significant circumstances such as natural disasters or major operational changes, requiring thorough justification and approval processes[189]. Market Position and Growth Strategy - The company plans to continue expanding its market presence and investing in new technologies to sustain growth in the upcoming years[16]. - The company is expanding its production capacity with the Inner Mongolia Baotou Phase II project, designed to reach a capacity of 60,000 tons, expected to be operational by Q3 2022[28]. - The company has established long-term partnerships with major battery manufacturers, including CATL and LGES, enhancing its market position[53]. - The company is focusing on expanding its market presence through new product development and strategic acquisitions in the LCD polarizer sector[99]. - The company aims to enhance its product competitiveness and market share by addressing technology gaps in small and medium-sized LCD polarizers compared to overseas competitors[60]. Research and Development - The company has a strong R&D capability, leveraging over 20 years of technology development in the polarizer field, leading to innovations in large-size, ultra-thin, and high-contrast polarizers[60]. - The company plans to increase R&D investment in 2022 to strengthen its competitive edge in large-size LCD panels and accelerate the development of high-end IT and OLED polarizer products[60]. - The company has developed several new anode materials, including high energy density and fast charging options, with some already in mass production[94]. - The company is committed to continuous technological innovation to mitigate risks associated with market competition and policy adjustments[149]. - The company is set to establish a research and development center in China to enhance its technological leadership and foster innovation[144]. Acquisitions and Investments - The company completed the acquisition of the LCD polarizer business, which contributed significantly to revenue and profit growth[76]. - The company successfully completed the acquisition of LG Chem's LCD polarizer business, enhancing its main business scope and significantly increasing revenue and profitability due to strong downstream market demand[117]. - The company has implemented comprehensive financial control measures for its subsidiaries, including appointing financial directors and establishing independent financial departments to enhance compliance and efficiency[119]. - The company has established governance structures for its subsidiaries, ensuring compliance with internal regulations and effective management of operations[119]. - The company invested a total of 1,247,593.40 thousand yuan in external investments during the reporting period, a significant increase of 733.77% year-on-year[109]. Operational Efficiency - The company has seen a significant improvement in overall operational efficiency through lean production and cost innovation measures, optimizing production and supply chain processes[39]. - The company has installed a total of 24 RTP production lines globally, leading in scale and production line quantity, which enhances operational efficiency and reduces costs[38]. - The company’s integrated production line project in Baotou, Inner Mongolia, has achieved full production capacity of 100,000 tons per year, leveraging local electricity cost advantages to reduce costs and improve gross margins[67]. - The company has divested non-core businesses, including the sale of its remaining stake in a financing leasing company and the completion of equity disposal in its energy storage operations[40]. - The company has developed a rapid raw material evaluation system, significantly shortening the time required to verify raw material quality, thus enhancing product delivery capabilities[65]. Risks and Challenges - The company emphasizes the importance of investor awareness regarding the risks associated with forward-looking statements in the report[5]. - The company anticipates potential risks from policy changes and market competition, particularly in the lithium battery and polarizer sectors[147][148]. - The company acknowledges the potential challenge to its LCD polarizer business from emerging display technologies like OLED and Micro LED[151]. - The company is exposed to risks from the supply of polarizer raw materials, primarily sourced from Japanese and Korean companies, which could lead to operational uncertainties[150]. - The company faces foreign exchange risks due to international procurement and sales, involving currencies like USD and EUR[152]. Corporate Governance - The company adheres to corporate governance standards and has established a transparent performance evaluation and incentive mechanism for its executives[159]. - The company has conducted seven shareholder meetings in the reporting period, ensuring compliance with legal requirements and protecting shareholder rights[154]. - The company has a diverse board composition, including independent directors who contribute to governance[173]. - The company has maintained a consistent attendance record at board meetings, with no directors missing two consecutive meetings[173]. - The internal control audit report received a standard unqualified opinion, indicating effective internal control measures are in place[200].

Financial Performance - The company's operating revenue for Q3 2021 reached ¥5,765,063,408.09, representing a year-on-year increase of 145.05%[4] - Net profit attributable to shareholders for Q3 2021 was ¥2,014,297,360.62, a significant increase of 1,034.67% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥610,762,224.21, up 535.79% year-on-year[4] - The lithium battery materials business generated operating revenue of ¥722,956.02 million, a year-on-year growth of 57.91%, with a net profit of ¥84,446.95 million, increasing by 464.97%[5] - The newly added polarizer business contributed significantly, achieving operating revenue of ¥752,937.92 million and a net profit of ¥88,627.67 million[6] - Total operating revenue for the first three quarters of 2021 reached ¥15.71 billion, a significant increase from ¥5.56 billion in the same period of 2020, representing a growth of approximately 182.5%[27] - Net profit for the first three quarters of 2021 was ¥2.96 billion, compared to ¥306.51 million in 2020, indicating a substantial increase of about 867.5%[28] - Operating profit for the first three quarters of 2021 was ¥4.02 billion, up from ¥401.40 million in 2020, reflecting an increase of approximately 901.5%[27] - The net profit attributable to shareholders for the first nine months of 2021 was RMB 9.53 billion, compared to RMB 6.25 billion for the same period in 2020, representing a growth of approximately 53%[26] Assets and Liabilities - Total assets at the end of the reporting period were ¥35,825,243,753.83, reflecting a year-on-year increase of 45.98%[5] - The company's total assets reached RMB 35.83 billion, an increase from RMB 24.54 billion at the end of 2020, representing a growth of approximately 46%[24] - Total current liabilities increased to RMB 11.38 billion from RMB 6.85 billion, reflecting a rise of approximately 66%[25] - The company's total liabilities reached RMB 20.29 billion, up from RMB 10.63 billion, which is an increase of approximately 91%[25] - The company's total equity increased to RMB 15.54 billion from RMB 13.91 billion, reflecting a growth of about 12%[25] Cash Flow - The company reported a net cash flow from operating activities of -¥874,526,558.69 for the year-to-date period, indicating a decline of 848.35% compared to the previous year[4] - The net cash flow from operating activities for the year-to-date period was CNY -848.35 million, impacted by the acquisition of the LCD polarizer business and an increase in accounts receivable[12] - Cash flow from operating activities showed a net outflow of ¥874.53 million in 2021, compared to a net inflow of ¥116.86 million in 2020[29] - The net cash flow from investment activities was negative at approximately -$3.07 billion in 2021, a decline from a positive cash flow of $650.31 million in 2020[30] - Cash inflows from financing activities reached approximately $12.72 billion in 2021, up from $5.00 billion in the previous year, reflecting strong financing efforts[30] - The net cash flow from financing activities was approximately $7.28 billion in 2021, a substantial improvement from a negative cash flow of -$612.13 million in 2020[30] - The company experienced a net increase in cash and cash equivalents of approximately $3.33 billion in 2021, compared to $156.08 million in the same period of 2020[30] - The ending balance of cash and cash equivalents as of the end of the reporting period was approximately $5.90 billion, significantly higher than $2.20 billion at the same time last year[30] - The company received approximately $11.25 billion in cash from borrowings in 2021, compared to approximately $4.99 billion in 2020, indicating increased leverage[30] - Cash paid for debt repayment was approximately $3.69 billion in 2021, a decrease from $4.80 billion in the previous year, suggesting improved debt management[30] Equity and Investments - The company completed the transfer of 19.6438% equity in Hunan Sishan Energy Technology Co., resulting in a non-recurring gain of ¥143,975.59 million[7] - The company reduced its stake in Shanshan Energy from 68.6438% to 49% following the transfer of part of its equity, effective September 1, 2021[20] - The company has received all equity transfer payments related to the control of Shanshan Energy, which is no longer included in the consolidated financial statements[21] - The company completed the acquisition of LG Chem's LCD polarizer business on February 1, 2021, which has significantly contributed to its performance[18] Research and Development - Research and development expenses rose to ¥550.69 million in 2021 from ¥306.53 million in 2020, marking an increase of about 79.5%[27] Earnings and Shareholder Returns - The company reported a basic earnings per share of CNY 909.02 for the current reporting period, reflecting the impact of the equity transfer and the acquisition[12] - Basic earnings per share for the first three quarters of 2021 were ¥1.698, compared to ¥0.202 in 2020, indicating an increase of about 740.1%[28] - The company reported cash payments for dividends and interest totaling approximately $533.81 million in 2021, compared to $388.72 million in 2020, reflecting a commitment to shareholder returns[30] Tax and Other Comprehensive Income - The company reported a tax expense of ¥1.06 billion in 2021, compared to ¥93.50 million in 2020, which is an increase of about 1,134.4%[28] - Other comprehensive income after tax for the first three quarters of 2021 was -¥691.57 million, an improvement from -¥1.25 billion in 2020[28] Regulatory and Compliance - The company has submitted an application for a non-public issuance of A-shares to the China Securities Regulatory Commission, which is still pending approval[19] - The company did not apply the new lease accounting standards starting in 2021, indicating a potential area for future financial reporting adjustments[31]

Financial Performance - The company reported a significant increase in revenue for the first half of 2021, with total revenue reaching RMB 1.2 billion, representing a year-on-year growth of 25%[18]. - The net profit attributable to shareholders for the same period was RMB 300 million, an increase of 30% compared to the previous year[18]. - The company's operating revenue for the first half of 2021 reached ¥9,946,665,453.42, a significant increase of 209.82% compared to ¥3,210,420,844.43 in the same period last year[19]. - Net profit attributable to shareholders was ¥759,726,411.65, up 659.15% from ¥100,076,044.69 year-on-year[19]. - The basic earnings per share increased to ¥0.467, representing a growth of 483.75% compared to ¥0.080 in the previous year[20]. - The company achieved a main business revenue of 282.30 million yuan in the electrolyte business, a year-on-year increase of 39.62%, with a net profit of 49.65 million yuan, up from a loss in the previous period[59]. - The company’s polarizer business generated main business revenue of 4.57 billion yuan and a net profit of 514.63 million yuan in the first half of 2021[60]. - The company reported a significant increase in accounts payable to ¥2,505,536,992.44, which is 6.80% of total assets, reflecting a 54.77% increase due to rapid growth in the lithium battery materials business[75]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share by the end of 2022[18]. - The company aims to leverage its competitive advantages in lithium battery materials and polarizers to become a leading high-tech enterprise globally[22]. - The company is expanding its anode material production with a new integrated project in Inner Mongolia, aiming for an annual capacity of 100,000 tons, with phase two expected to start production by the end of 2021[45]. - The company plans to enter new geographic markets, specifically targeting Southeast Asia, with an expected revenue contribution of 200 million RMB in the next fiscal year[161]. - A strategic acquisition of a smaller competitor is anticipated to enhance the company's technological capabilities and expand its product offerings[161]. Research and Development - The company has allocated RMB 200 million for research and development in the upcoming fiscal year, focusing on sustainable energy solutions[18]. - Research and development investments have increased by 30%, focusing on advanced materials for battery production[161]. - The company has over 20 years of experience in the research and industrialization of lithium battery materials, focusing on technology innovation and independent research and development[41]. - The company aims to enhance its R&D capabilities by collaborating with customers on product testing and introducing new materials[39]. Product Development - New product development includes the launch of a next-generation battery technology, expected to enhance performance by 40%[18]. - The company has developed a new generation of high energy density fast-charging products, achieving breakthroughs in technology for both power and consumer products[45]. - The company has developed a comprehensive product development and application system for electrolytes, with a focus on high nickel and high voltage applications[43]. Financial Position and Stability - The company maintains a strong cash position with RMB 500 million in cash reserves, ensuring financial stability for future investments[18]. - The company has recognized a dividend income of ¥4,950,000.00 from Luoyang Molybdenum, contributing to its financial performance[73]. - The company reported a net cash flow from financing activities of approximately ¥7.20 billion, a substantial increase of 3,404.82% compared to ¥205.53 million in the previous year[68]. - The company’s total assets grew by 50.04% to ¥36,821,466,379.56 from ¥24,540,658,795.91 at the end of the previous year[19]. Risks and Challenges - The board highlighted potential risks, including supply chain disruptions and regulatory changes, which could impact future performance[18]. - Market competition in the lithium battery materials sector is intensifying, with potential overcapacity risks[92]. - Raw material price fluctuations significantly impact production costs, particularly for lithium and other key materials[93]. - The company faces risks from policy changes affecting the new energy and panel industries, impacting operations[91]. Environmental and Regulatory Compliance - The company has implemented environmental protection measures, including a dust removal system and wastewater treatment facilities, to comply with national standards[104]. - The company has established a hazardous waste storage area with a leakage prevention level of 10^-10 cm/s[105]. - The company has completed environmental impact assessments for its construction projects in accordance with national regulations[106]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[109]. Corporate Governance and Management - The company appointed Li Keqin as the new Chief Financial Officer on January 11, 2021, following the resignation of Yang Feng[99]. - The company has appointed Xu Zhiliang as the new Deputy General Manager on April 28, 2021[99]. - The company held its first extraordinary general meeting on January 13, 2021, and the annual general meeting on April 26, 2021[98]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 70,378[137]. - The largest shareholder, Shanshan Group Co., Ltd., holds 532,257,280 shares, accounting for 32.69% of total shares, with 40,441,711 shares frozen[138]. - Shanshan Holdings Co., Ltd. is the second-largest shareholder, holding 116,912,189 shares, which is 7.18% of total shares, with 63,391,443 shares frozen[138]. Accounting and Financial Reporting - The company consolidates financial statements for the entire corporate group as a single accounting entity, reflecting overall financial status, operating results, and cash flows[169]. - The company applies equity method accounting for investments in joint ventures, recognizing its share of assets, liabilities, income, and expenses[172]. - The company recognizes impairment losses for non-current assets held for sale when their carrying amount exceeds fair value less costs to sell[190].

Financial Performance - Operating revenue for the quarter was RMB 3.99 billion, a 227.17% increase compared to the same period last year[5] - Net profit attributable to shareholders was RMB 302.35 million, compared to a loss of RMB 83.70 million in the previous year[5] - Basic earnings per share improved to RMB 0.186, compared to a loss of RMB 0.075 in the same period last year[5] - The net profit attributable to the parent company reached approximately CNY 302.35 million, a significant increase compared to the previous year, reflecting higher sales volumes in lithium materials[13] - Net profit for Q1 2021 was ¥358,587,208.93, a turnaround from a net loss of ¥94,913,623.21 in Q1 2020[26] - The company reported a profit margin of approximately 8.96% in Q1 2021, compared to a negative margin in Q1 2020[26] - Total operating revenue for Q1 2021 reached ¥3,999,264,002.25, a significant increase from ¥1,222,371,293.61 in Q1 2020, representing a growth of approximately 227.4%[25] Cash Flow and Liquidity - The cash flow from operating activities showed a net outflow of RMB 1.03 billion, compared to a net outflow of RMB 94.58 million last year[5] - The net cash flow from operating activities was -1.03 billion RMB, primarily due to the acquisition of the LCD polarizer business, resulting in a significant increase in accounts receivable[14] - The company reported a net cash flow from operating activities of -1,028,518,944.63 CNY in Q1 2021, compared to -94,581,508.57 CNY in Q1 2020, indicating a significant decline[29] - Cash inflow from financing activities reached 6,140,196,124.55 CNY in Q1 2021, significantly higher than 2,414,186,291.01 CNY in Q1 2020, representing an increase of about 154.5%[30] - The net cash flow from financing activities was 4,946,712,725.16 CNY in Q1 2021, compared to 326,501,582.33 CNY in Q1 2020, indicating a strong improvement[33] Assets and Liabilities - Total assets increased by 40.88% year-on-year, reaching RMB 34.57 billion[5] - The company's cash and cash equivalents increased by 52.56% to approximately CNY 4.70 billion, primarily due to the acquisition of the LCD polarizer business[11] - The company's inventory rose by 116.58% to approximately CNY 3.51 billion, attributed to expanded sales in lithium battery materials and increased raw material prices[11] - Total liabilities increased to ¥20,445,375,240.92, up from ¥10,633,400,529.88, representing a 92.5% year-over-year growth[21] - The company's goodwill rose by 733.78% to approximately CNY 1.07 billion, resulting from the acquisition of the LCD polarizer business[11] - Long-term equity investments rose significantly to ¥10,635,809,249.54, up from ¥5,615,252,313.68, marking an 89.8% increase[22] Business Segments and Contributions - The new polarizer business contributed RMB 193 million to net profit attributable to shareholders[6] - The positive electrode materials business generated a net profit of RMB 74 million, an increase of RMB 76 million year-on-year[6] - The negative electrode materials business achieved a net profit of RMB 102 million, a year-on-year increase of 7,324.67%[6] - The electrolyte business turned profitable with a net profit of RMB 7 million, driven by rising prices and improved gross margins[6] Research and Development - Research and development expenses increased by 94.46% to approximately CNY 149.63 million, reflecting the company's commitment to enhancing lithium battery material technology[12] - Research and development expenses increased to ¥149,627,171.95 in Q1 2021, up from ¥76,943,654.24 in Q1 2020, marking an increase of about 94.3%[25] Market Outlook - The company anticipates significant growth in cumulative net profit compared to the same period last year, driven by the newly consolidated polarizer business and stable sales of cathode and anode materials in the electric vehicle market[17]