Financial Performance - The company achieved a net profit attributable to shareholders of the parent company of ¥310,250,751.82 in 2021, with a net profit of ¥134,194,049.63 for the parent company[5]. - The proposed cash dividend distribution is ¥1.20 per 10 shares, totaling ¥94,645,316.64, which represents 30.51% of the net profit attributable to shareholders of the parent company[5]. - The total cash dividend distribution for 2021, including share repurchase amounts, is ¥108,901,110.88, accounting for 35.10% of the net profit attributable to shareholders of the parent company[5]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion CNY for the fiscal year, representing a growth of 20% year-over-year[19]. - The company's operating revenue for 2021 was approximately ¥10.04 billion, representing a year-over-year increase of 32.27% compared to ¥7.59 billion in 2020[27]. - The net profit attributable to shareholders for 2021 was approximately ¥310.25 million, a decrease of 27.66% from ¥428.90 million in 2020[27]. - The net profit after deducting non-recurring gains and losses was approximately ¥248.28 million, down 37.91% from ¥399.88 million in 2020[27]. - The net cash flow from operating activities for 2021 was approximately ¥126.00 million, a significant decline of 59.90% compared to ¥314.24 million in 2020[27]. - The total assets of the company have increased to 3 billion CNY, reflecting a growth of 25% from the previous year[19]. - The gross margin for the year was reported at 30%, a slight increase from 28% in the previous year[19]. Dividend Policy and Shareholder Returns - The company plans to maintain its dividend distribution ratio even if the total share capital changes before the dividend record date[5]. - The company has a cumulative distributable profit of ¥1,979,673,991.25, including retained earnings from the previous year[5]. - The company has established a cash dividend policy, ensuring that cash dividends account for at least 30% of the average distributable profit over the last three years[192]. Risks and Compliance - The company has no significant risks that could materially affect its operations during the reporting period[8]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[5]. - The company has not violated decision-making procedures for providing guarantees[5]. - The company acknowledges risks related to rising raw material prices, particularly for copper, zinc, nickel, and tin, which significantly impact production costs[139]. - The company has implemented a hedging management system to mitigate risks from fluctuations in the fair value of raw material procurement contracts and finished product sales orders[140]. - The company has not faced any penalties from securities regulatory authorities in the past three years[174]. Market Expansion and Strategic Initiatives - The company is expanding its market presence, targeting new regions in Southeast Asia, with an investment of 100 million CNY allocated for this expansion[19]. - A strategic acquisition of a local competitor is in progress, expected to enhance market share by 10% upon completion[19]. - The company aims to enhance its competitive edge in the high-end non-ferrous metal alloy materials sector through continuous R&D investment and the introduction of talented personnel[118]. - The company is focusing on mergers and acquisitions in the new materials sector to strengthen its leading position in the industry[124]. - The company is exploring potential mergers and acquisitions to strengthen its market presence and diversify its offerings[168]. Research and Development - The company plans to invest 50 million CNY in R&D for new technologies in photovoltaic cells, aiming to improve efficiency by 5%[19]. - The company has established a digital R&D platform that integrates market research, technology development, and customer application research, enhancing its innovation capabilities[57]. - The company has applied for a total of 341 invention patents, with 247 granted and 134 currently valid, including patents in the US, Europe, Japan, South Korea, and Taiwan[69]. - The company is actively developing new products and materials to maintain its technological and R&D advantages in the new materials sector[140]. - The company has a total of 529 R&D personnel, contributing to its innovation and product development efforts[186]. Operational Efficiency and Cost Management - The company has implemented a new hedging strategy to mitigate price risks in the copper market, which is expected to stabilize costs[19]. - The company aims to improve operational efficiency and cost management as part of its new strategies[158]. - The company is investing in new technologies to improve operational efficiency and reduce costs[168]. - The company has a competitive salary structure compared to peers in the industry, aimed at attracting and retaining talent[188]. Corporate Governance and Management - The company held its 2020 Annual General Meeting on May 2021, where key resolutions included the approval of the 2020 Annual Financial Report and the profit distribution plan[152]. - The company’s total pre-tax remuneration for the Chief Engineer was 52.5 million CNY for the reporting period[155]. - The company has implemented a multi-level and multi-dimensional long-term incentive mechanism to enhance employee performance and engagement[188]. - The company held a total of 7 board meetings during the year, with 2 being in-person meetings and 5 combining in-person and communication methods[178]. - The company appointed new executives, including a president and three vice presidents, as part of the fifth board of directors' appointments[170]. Future Outlook - The company has set a future outlook with a revenue target of 1.8 billion CNY for the next fiscal year, indicating an expected growth of 20%[19]. - Future performance guidance indicates a projected revenue growth of approximately 15% for the upcoming fiscal year[168]. - The company aims to achieve a net profit margin of 18% by the end of the fiscal year, up from 15%[163]. - The company is committed to sustainability initiatives as part of its long-term growth strategy[158].

证券代码：601137 证券简称：博威合金 公告编号：临 2021-061 宁波博威合金材料股份有限公司 关于参加"宁波辖区 2021 年度上市公司投资者 网上集体接待日主题活动"的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并 对其内容的真实性、准确性和完整性承担个别及连带责任。 为进一步加强宁波辖区上市公司与投资者特别是中小投资者的沟通交流，增强上市 公司的透明度，提升公司治理水平，促进公司规范运作。在宁波证监局指导下，宁波上 市公司协会将联合深圳市全景网络有限公司共同举办"心系投资者 携手共行动" ——宁 波辖区 2021 年度上市公司投资者网上集体接待日主题活动。活动于 2021 年 11 月 18 日 下午 15:00-17:00 举行，平台登陆地址为： http://rs.p5w.net。 届时，公司高管人员将参加本次活动，通过网络在线交流形式，就公司治理、发展 战略、经营状况、可持续发展等投资者所关心的问题，与投资者进行沟通与交流。欢迎 广大投资者踊跃参与！ 特此公告。 宁波博威合金材料股份有限公司 董 事 会 2021 年 11 月 12 日 ...

Financial Performance - The company's operating revenue for Q3 2021 was ¥2,402,869,149.20, representing a year-over-year increase of 34.55%[4] - The net profit attributable to shareholders for Q3 2021 was ¥99,588,458.17, a decrease of 1.49% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥97,172,497.15, reflecting a slight increase of 1.18% year-over-year[4] - The basic earnings per share for Q3 2021 was ¥0.12, down 12.73% from the same period last year[4] - The diluted earnings per share for Q3 2021 was also ¥0.12, reflecting a significant decrease of 35.69% year-over-year[4] - The weighted average return on equity was 1.85%, a decrease of 0.50 percentage points compared to the previous year[4] - The company experienced a 33.75% decrease in net profit attributable to shareholders after deducting non-recurring gains and losses for the year-to-date period[9] - Net profit for the third quarter of 2021 was CNY 262,438,533.31, a decrease of 26% from CNY 352,989,301.89 in the same quarter of 2020[27] - The company reported a profit before tax of CNY 310,464,310.48 for the third quarter of 2021, down from CNY 391,342,544.94 in the same quarter of 2020[27] - The total comprehensive income for the third quarter of 2021 was approximately CNY 279.96 million, a decrease from CNY 285.65 million in the same period of 2020[28] - Basic and diluted earnings per share for the third quarter of 2021 were CNY 0.33, down from CNY 0.52 in the previous year[28] Assets and Liabilities - The total assets at the end of Q3 2021 reached ¥11,349,686,221.90, marking a 24.68% increase from the end of the previous year[6] - The company's total liabilities increased to CNY 5,931,138,973.58 in Q3 2021, compared to CNY 3,928,167,131.89 in Q3 2020, marking a 51% rise[21] - The total equity attributable to shareholders reached CNY 5,418,547,248.32, up from CNY 5,174,563,933.94 in the previous year, indicating a growth of 5%[21] - Current assets amounted to CNY 5.93 billion, up from CNY 4.34 billion year-over-year, indicating a growth of about 36.3%[18] - Inventory increased significantly to CNY 3.07 billion, compared to CNY 1.99 billion in the previous year, representing a rise of approximately 54.4%[18] - Short-term borrowings rose to CNY 2.97 billion, compared to CNY 1.79 billion at the end of 2020, marking an increase of about 65.9%[20] - Accounts receivable increased to CNY 1.38 billion from CNY 963.5 million, reflecting a growth of approximately 42.8%[18] - Non-current assets totaled CNY 5.42 billion, up from CNY 4.76 billion, showing an increase of approximately 13.8%[20] Cash Flow - Cash inflow from operating activities for the first three quarters of 2021 was CNY 8.00 billion, compared to CNY 6.13 billion in the same period of 2020, representing an increase of approximately 30.5%[32] - The net cash outflow from operating activities was CNY -653.17 million for the third quarter of 2021, worsening from CNY -232.64 million in the same quarter of 2020[32] - Cash inflow from financing activities was CNY 3.92 billion in the third quarter of 2021, a decrease from CNY 4.49 billion in the same period of 2020[32] - The net cash flow from financing activities increased to CNY 1.35 billion in the third quarter of 2021, compared to CNY 927.67 million in the previous year[32] - The cash and cash equivalents at the end of the third quarter of 2021 were CNY 577.08 million, up from CNY 488.89 million at the end of the same quarter in 2020[32] - The company reported a significant increase in cash received from sales, totaling CNY 7.73 billion for the first three quarters of 2021, compared to CNY 5.88 billion in the same period of 2020[32] - The total cash outflow from investing activities was CNY 732.26 million in the third quarter of 2021, compared to CNY 831.24 million in the same period of 2020[32] Shareholder Information - The company repurchased 1,334,000 shares, representing 0.17% of total shares outstanding[14] - The top shareholder, Bowei Group Co., Ltd., holds 29.41% of the shares, while the second-largest shareholder, Bowei Asia Pacific Co., Ltd., holds 10.13%[12] Research and Development - Research and development expenses for the first three quarters of 2021 amounted to CNY 213,742,294.02, compared to CNY 139,718,540.34 in 2020, representing a 53% increase[23] - The company has ongoing investments in new technologies and market expansion strategies, although specific figures were not disclosed in the report[19] Operating Costs - Total operating revenue for the first three quarters of 2021 reached CNY 7,374,907,381.21, an increase of 31% compared to CNY 5,631,708,330.53 in the same period of 2020[21] - Total operating costs for the first three quarters of 2021 were CNY 7,097,858,631.52, up from CNY 5,257,270,144.53 in 2020, reflecting a 35% increase[23] Deferred Income Tax - The deferred income tax liabilities were CNY 4,845,349.60 in Q3 2021, slightly down from CNY 4,927,941.03 in Q3 2020[21] New Business Segments - The new materials segment achieved a net profit of ¥120,942,300 in Q3 2021, while the new energy business reported a loss of ¥21,353,900 due to external factors[7]

Financial Performance - The company's revenue for the first half of 2021 was approximately CNY 4.97 billion, representing a 29.28% increase compared to CNY 3.85 billion in the same period last year [25]. - The net profit attributable to shareholders for the same period was CNY 162.85 million, a decrease of 35.35% from CNY 251.90 million year-on-year [25]. - The net cash flow from operating activities was negative CNY 452.58 million, a significant decline of 358.07% compared to CNY 175.37 million in the previous year [25]. - The total assets at the end of the reporting period were CNY 10.60 billion, an increase of 16.46% from CNY 9.10 billion at the end of the previous year [25]. - The net assets attributable to shareholders increased to CNY 5.27 billion, reflecting a 1.87% growth from CNY 5.17 billion year-end last year [25]. - Basic earnings per share for the first half of 2021 were CNY 0.21, down 44.73% from CNY 0.38 in the same period last year [25]. - The weighted average return on net assets decreased to 3.10%, down 3.23 percentage points from 6.33% year-on-year [25]. - The company achieved a main business revenue of 4,880.01 million yuan, a year-on-year increase of 27.42% [47]. - The actual sales volume for new energy products was 92401.18 MW, achieving only 46.67% of the annual target [47]. Risk Management - The company has not faced any significant risks that could materially affect its operations during the reporting period [8]. - The report includes a risk statement indicating that future plans and strategies do not constitute a commitment to investors, highlighting the importance of investment risk awareness [7]. - The company has detailed various risks and countermeasures in the report, particularly in the section discussing operational conditions [8]. - The company is facing challenges in production capacity due to high demand for precision products, prompting adjustments in production lines [53]. - The company is facing raw material price fluctuation risks, with major raw materials being copper, zinc, nickel, and tin, which account for a significant portion of production costs [74]. Corporate Governance - The board of directors confirmed that all members attended the board meeting, ensuring the integrity of the report [5]. - The financial report has been declared accurate and complete by the responsible executives, including the accounting supervisor [5]. - The report emphasizes the importance of accurate and complete disclosures by the board of directors [4]. - The company has not violated decision-making procedures regarding external guarantees [8]. - There are no non-operating fund occupations by controlling shareholders or related parties [8]. Environmental Responsibility - The company reported a total of 6.59 tons/year of COD emissions, with actual emissions in the first half of 2021 being 2.2 tons, compliant with the wastewater discharge standards [94]. - The company has a wastewater treatment facility with a capacity of 480 tons/day and 16 sets of air pollution control facilities with a total capacity of 450,000 m³/h at the Yunlong plant [98]. - The company aims to achieve peak carbon emissions by 2030 and carbon neutrality by 2060, promoting green energy use and optimizing processes for energy savings [105]. - The company has implemented solid waste classification and wastewater diversion to reduce pollutant generation [104]. - The company has no administrative penalties related to environmental issues during the reporting period [104]. Research and Development - The company plans to continue increasing its investment in R&D for special alloy materials, aiming to support the development of the new materials industry in China [33]. - The company has applied for a total of 324 invention patents, with 231 granted, indicating a strong focus on innovation and technology development [40]. - Research and development expenses rose by 45.15% to ¥135,579,102.50, reflecting an increase in R&D projects during the period [58]. - The new materials segment benefited from rapid growth in demand from semiconductor chips and new energy vehicles, with significant sales increases [47]. Shareholder Information - The company reported a profit distribution plan for the reporting period, stating that there will be no profit distribution or capital reserve transfer to share capital [6]. - The employee stock ownership plan was approved, utilizing 13,346,334 shares repurchased at a price of 7.51 CNY per share, representing 1.69% of the total share capital [91]. - The lock-up period for shares acquired in the transaction is set for 36 months, after which the shares can be released from restriction [112]. - The total number of shares held by the top ten shareholders is 6,102,907 shares for China Construction Bank and 5,551,295 shares for Ningbo Meishan Bonded Port Area Shengshi Bozhong Venture Capital Partnership [150]. Financial Position - Total current assets as of June 30, 2021, amount to RMB 5,312,590,042.47, an increase from RMB 4,342,343,427.86 as of December 31, 2020, representing a growth of approximately 22.3% [160]. - The inventory value as of June 30, 2021, is RMB 2,677,683,296.47, compared to RMB 1,989,204,272.95 as of December 31, 2020, indicating a significant increase of approximately 34.6% [160]. - The accounts receivable increased to RMB 1,279,625,363.44 as of June 30, 2021, from RMB 963,528,703.30 as of December 31, 2020, reflecting a growth of about 32.8% [160]. - Total liabilities reached CNY 5,329,535,330.29, compared to CNY 3,928,167,131.89, indicating an increase of about 35.7% [165]. - The company's equity attributable to shareholders rose to CNY 5,271,093,313.02 from CNY 5,174,563,933.94, a growth of approximately 1.9% [165].

Financial Performance - Operating revenue for the first quarter reached CNY 2,099,927,249.95, an increase of 8.68% year-on-year[10] - Net profit attributable to shareholders was CNY 117,610,356.53, reflecting a slight increase of 1.29% compared to the same period last year[10] - Basic earnings per share decreased by 11.76% to CNY 0.15[10] - Revenue for the period was RMB 2,099,927,249.95, an increase of 8.68% compared to the previous year, driven by higher sales volumes of alloy materials[21] - Total operating revenue for Q1 2021 was ¥2,099,927,249.95, an increase of 8.7% from ¥1,932,202,868.31 in Q1 2020[43] - Net profit for Q1 2021 was ¥117,610,356.53, slightly up from ¥116,116,948.53 in Q1 2020, indicating a growth of 1.3%[46] - The total profit for Q1 2021 was ¥135,413,737.52, an increase from ¥127,344,469.53 in Q1 2020, reflecting a growth of 6.5%[46] Cash Flow - Net cash flow from operating activities decreased significantly by 437.1% to -CNY 158,145,587.80[10] - Net cash flow from operating activities was negative at RMB -158,145,587.80, a decline of 437.10% due to increased accounts receivable and inventory[21] - The company's cash flow from operating activities for Q1 2021 was negative at approximately -¥158.15 million, compared to a positive cash flow of ¥46.91 million in Q1 2020[57] - The net cash flow from operating activities was negative at CNY -212,710,930.80, compared to a positive CNY 268,601,279.38 in the same period last year[59] - Cash inflows from financing activities totaled CNY 1,083,814,547.55, down from CNY 1,803,258,490.56 in Q1 2020[61] Assets and Liabilities - Total assets increased by 13.21% to CNY 10,304,938,875.42 compared to the end of the previous year[10] - Total liabilities amounted to ¥5,028,358,592.51, up from ¥3,928,167,131.89, reflecting an increase of approximately 28.1%[33] - Current liabilities rose to ¥4,424,039,909.44 from ¥3,359,674,869.13, marking an increase of approximately 31.6%[31] - Total current asset of ¥2,980,660,973.31, compared to ¥2,437,913,622.23, indicating an increase of about 22.3%[37] Shareholder Information - The total number of shareholders at the end of the reporting period was 30,554[12] - The largest shareholder, Bowei Group Co., Ltd., holds 29.41% of the shares, with 232,340,968 shares[15] Inventory and Receivables - Accounts receivable increased by 15.55% to RMB 1,113,393,293.69 due to rising prices of alloy raw materials[19] - Inventory rose by 29.46% to RMB 2,575,159,273.73, attributed to increased production and higher raw material prices[19] Research and Development - Research and development expenses increased by 46.46% to RMB 59,558,473.76, reflecting higher spending on R&D projects[21] - Research and development expenses increased to ¥59,558,473.76 in Q1 2021, compared to ¥40,665,549.41 in Q1 2020, representing a rise of 46.4%[43] Other Financial Metrics - The weighted average return on equity decreased by 0.77 percentage points to 2.25%[10] - Non-operating income and expenses resulted in a net gain of CNY 5,323,510.84[12] - Government subsidies recognized in the current period amounted to CNY 7,615,855.17[12]

Financial Performance - The company achieved a net profit attributable to shareholders of the parent company of ¥428,902,236.31 in 2020, with a parent company net profit of ¥48,239,516.16[4] - The total distributable profit for shareholders reached ¥1,816,923,509.63, including retained earnings from the previous year of ¥1,392,845,224.94[4] - The company's operating revenue for 2020 was approximately ¥7.59 billion, a slight decrease of 0.04% compared to ¥7.59 billion in 2019[30] - Net profit attributable to shareholders was approximately ¥428.90 million, down 2.54% from ¥440.06 million in 2019[30] - The net cash flow from operating activities decreased significantly by 53.85% to approximately ¥314.24 million from ¥680.88 million in 2019[30] - The company's total assets increased by 19.89% to approximately ¥9.10 billion at the end of 2020, compared to ¥7.59 billion at the end of 2019[30] - Basic earnings per share decreased by 7.58% to ¥0.61 in 2020 from ¥0.66 in 2019[31] - The weighted average return on equity decreased by 1.73 percentage points to 10.07% in 2020 from 11.80% in 2019[31] Dividend Distribution - The proposed cash dividend is ¥1.70 per 10 shares, amounting to a total distribution of ¥134,080,865.24, which represents 31.26% of the net profit attributable to shareholders[4] - The profit distribution plan is subject to approval at the 2020 annual general meeting of shareholders[5] - In 2020, the company distributed cash dividends totaling ¥134,080,865.24, representing 31.26% of the net profit attributable to shareholders[154] - The cash dividend policy mandates that cumulative cash distributions over three years must not be less than 30% of the average distributable profit[153] - The cash dividends for 2019 totaled ¥140,404,430.32, accounting for 31.91% of the net profit attributable to shareholders[155] - The company’s cash dividend policy has remained unchanged during the reporting period, adhering to regulatory guidelines[153] Risk Management - There are no significant risks that could materially affect the company's operations during the reporting period[7] - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties[5] - The company has outlined various risks and countermeasures in the report, which can be found in the section discussing operational conditions[7] - The company has established a hedging management system to mitigate risks associated with raw material price fluctuations, particularly for copper, zinc, nickel, and tin[146] - The company faces increased competition in the photovoltaic sector due to U.S. anti-dumping measures, with plans to accelerate technological upgrades and digital transformation to enhance operational capabilities[150] Operational Highlights - The company reported a production capacity of 50,000 tons of special alloy strip per year, funded by convertible bonds[16] - The company focuses on high-strength, high-conductivity, and high-wear resistance copper alloys, which are essential for various applications[16] - The company is engaged in the development of photovoltaic cells, including monocrystalline and polycrystalline types, which are crucial for solar energy conversion[16] - The company has established a photovoltaic power generation system that integrates solar cells, charge controllers, batteries, and installation brackets[16] - The company is focusing on the development of new materials and renewable energy, with a strategy centered on high-performance alloy materials and solar energy products[40][42] - The company has transformed from a raw material supplier to a provider of new material application solutions over nearly 30 years of R&D[40] - The company maintains a leading position in battery conversion efficiency within the global market[42] - The company has established stable supply channels for key raw materials, including cathode copper and electrolytic zinc, ensuring a secure inventory system[45] Research and Development - The company is committed to R&D in new materials, particularly in high-strength and high-conductivity alloys, to meet the demands of emerging technologies like 5G[110] - The company has achieved significant breakthroughs in the research and application of new materials, contributing to the technological progress of Chinese enterprises[54] - The company has established a comprehensive intellectual property system and product series in the four major alloy material fields, positioning itself as a leading entity in the non-ferrous alloy industry[59] - The company has applied for a total of 268 invention patents, with 137 granted, including 8 US patents, 27 European patents, and 4 Japanese patents[62] Digital Transformation - The company has established a digital transformation project focusing on digital R&D, marketing, manufacturing, and supply chain, aiming to enhance operational efficiency[69] - The company is focusing on digital transformation through four key projects: digital marketing, digital manufacturing, digital R&D, and a digital supply chain ecosystem[133] - The digital supply chain ecosystem has completed blueprint design, aiming to enhance procurement efficiency and reduce costs significantly[136] - The company is committed to digital transformation and smart manufacturing to enhance its core capabilities and industry leadership[126] Subsidiary Performance - The company’s subsidiary, Boviet Renewable Power LLC, reported a net loss of approximately $20.5 million[120] - The company’s subsidiary, Boviet Solar Technology Co., Ltd., generated a net profit of approximately $61.11 million[120] - The company’s subsidiary, HCG Tay Ninh Solar Power Joint Stock Company, reported a net profit of approximately 31.86 billion VND[120] Strategic Initiatives - The company aims for a net profit growth of no less than 60% by 2023 compared to 2020, as part of its employee incentive program[76] - The company is actively expanding its high-end automotive electronics business, preparing for the launch of a 50,000-ton special alloy strip project[85] - The company plans to enhance its digital transformation and management capabilities, leading to increased personnel costs[89] - The company aims to lead the domestic market in special alloy materials, filling gaps and achieving import substitution[110] - The company plans to strengthen its leading position in the new materials sector through mergers and acquisitions of companies with technological and channel advantages[131] Compliance and Governance - The company maintains that all board members can guarantee the authenticity, accuracy, and completeness of the annual report[5] - The company has established a commitment to maintain the integrity of its financial reporting and adhere to legal responsibilities[169] - The independent directors confirmed that the related party transaction framework agreement was approved prior to submission to the board, ensuring compliance with legal procedures[187] Financial Management - The company has provided guarantees totaling RMB 2,395,342,010, which accounts for 46.29% of the company's net assets[194] - The company has issued guarantees amounting to RMB 1,266,704,500 for its subsidiaries during the reporting period[194] - The company has engaged in entrusted cash asset management with a total amount of RMB 670 million, including RMB 480 million from raised funds[196] - The company has a remaining balance of RMB 30 million in entrusted management that is overdue[196]

Financial Performance - Operating revenue for the first nine months reached CNY 5,631,708,330.53, a 6.52% increase year-on-year[8] - Net profit attributable to shareholders increased by 7.14% to CNY 352,989,301.89 compared to the same period last year[8] - The company reported a net profit of CNY 487,250,160.47 for the first nine months of 2020, compared to CNY 527,284,238.29 in the same period of 2019, a decrease of 7.6%[39] - Total revenue for Q3 2020 was CNY 1,785,874,583.87, a decrease of 8.0% compared to CNY 1,940,971,904.12 in Q3 2019[42] - The net profit for Q3 2020 was ¥33.76 million, compared to ¥27.66 million in Q3 2019, reflecting a growth of 22.6%[52] - The total profit for Q3 2020 was ¥39.59 million, up from ¥32.40 million in Q3 2019, indicating a 22.5% increase[52] Assets and Liabilities - Total assets increased by 7.67% to CNY 8,174,575,159.56 compared to the end of the previous year[8] - The company's total assets amounted to 8,174,575,159.56 CNY, an increase from 7,592,380,532.84 CNY at the end of 2019[31] - The total liabilities decreased by 74.71% to RMB 131,240,342.38, primarily due to a reduction in loans[19] - The company's total liabilities reached 3,838,386,428.30 RMB, reflecting the company's leverage position[70] - The total owner's equity attributable to shareholders is ¥3,753,994,104.54, with retained earnings of ¥1,527,080,052.74[73] Cash Flow - The cash flow from operating activities showed a significant decline of 242.76%, resulting in a negative cash flow of CNY -232,636,655.46 for the first nine months[8] - The net cash flow from operating activities was negative at RMB -232,636,655.46, a decline of 242.76% compared to RMB 162,951,460.25 in the previous year, attributed to increased inventory and reduced contract prepayments[19] - Cash inflows from operating activities amounted to CNY 6,129,298,689.05 in the first three quarters of 2020, up from CNY 5,541,053,522.96 in 2019, reflecting a growth of about 10.6%[58] - The total cash outflow for operating activities was CNY 3,242,672,472.86 in 2020, compared to CNY 2,804,855,520.37 in 2019, representing an increase of about 15.6%[61] Shareholder Equity - Net assets attributable to shareholders increased by 36.27% to CNY 5,115,570,380.60 compared to the end of the previous year[8] - The company's equity attributable to shareholders rose to 5,115,570,380.60 CNY from 3,753,994,104.54 CNY, indicating a significant increase in shareholder value[33] - Following the conversion, the company's total share capital increased to 790,044,972 shares, enhancing its capital strength and risk resistance[21] Investments and Expenses - Financial expenses surged by 161.55% to RMB 67,432,801.78, mainly due to interest expenses from the issuance of RMB 1.2 billion convertible bonds and increased exchange losses[19] - Research and development expenses for Q3 2020 were CNY 46,309,445.85, slightly up from CNY 45,939,397.17 in Q3 2019[42] - The company incurred credit impairment losses of ¥7.30 million in Q3 2020, compared to no losses reported in Q3 2019[52] Share Capital and Bonds - The company issued 12 million convertible bonds totaling RMB 120 million, which began trading on February 17, 2020, under the name "博威转债" on the Shanghai Stock Exchange[19] - A total of 1,191,397,000 CNY of "Bohui Convertible Bonds" has been converted into company shares, accounting for 99.28% of the total issuance, resulting in 105,524,499 shares, which is 15.42% of the company's total shares before conversion[20] - The total amount for the redemption of the convertible bonds is 8,619,345.70 CNY, which will not significantly impact the company's cash flow[21] Current Assets and Inventory - The company's current assets totaled 3,887,520,865.12 CNY, compared to 3,808,950,413.88 CNY at the end of 2019, indicating a growth in liquidity[28] - The company's inventory increased to 1,904,013,094.97 CNY from 1,700,748,569.59 CNY year-over-year, reflecting a 11.93% increase[28] - Other current assets increased by 65.35% to RMB 172,967,518.54, primarily due to an increase in futures margin and input VAT credits[17]

Financial Performance - The company's operating revenue for the first half of the year reached ¥3,845,833,746.66, representing a 14.94% increase compared to the same period last year [25]. - Net profit attributable to shareholders was ¥251,897,863.73, up 21.92% year-on-year [25]. - The net cash flow from operating activities surged to ¥175,367,175.16, marking an increase of 831.66% compared to the previous year [25]. - The basic earnings per share increased to ¥0.38, reflecting a growth of 15.15% from the same period last year [25]. - The company's total assets slightly decreased by 0.52% to ¥7,553,139,242.85 compared to the end of the previous year [25]. - The company achieved a main business revenue of 382,982.40 million yuan, a year-on-year increase of 15.31%, and a net profit attributable to shareholders of 25,189.79 million yuan, up 21.92% [60]. - The international renewable energy segment experienced significant growth, with revenue of 103,747.36 million yuan, up 97.61%, and a net profit of 9,272.56 million yuan, an increase of 116.72% [61]. Risk Management - The report period did not encounter any significant risks that could materially affect the company's operations [9]. - The company emphasizes the importance of risk awareness in future plans and development strategies [8]. - The report includes a detailed discussion of potential risks and corresponding countermeasures [9]. - The company faces risks related to raw material price fluctuations, particularly in copper, zinc, nickel, and tin, which significantly impact production costs [88]. - The company has implemented a hedging management system to mitigate the risks associated with price volatility of raw materials and finished products [88]. - The company is collaborating with Fortune 500 clients to develop new products, aiming to reduce R&D and commercialization risks [88]. Corporate Governance - The board of directors confirmed that all members attended the board meeting, ensuring accountability for the report's accuracy [6]. - The company has a commitment to transparency and legal responsibility for the report's content [5]. - The financial report has not been audited, but management has declared its accuracy and completeness [7]. - There are no violations of decision-making procedures regarding external guarantees [8]. - The company has not reported any changes in its information disclosure practices during the reporting period [20]. - The company has not disclosed any stock incentive plans or employee stock ownership plans during the reporting period [115]. Research and Development - The company focuses on the development of photovoltaic cells, including monocrystalline and polycrystalline types, which are essential for solar energy conversion [16]. - The company is engaged in the production of photovoltaic battery modules, which are designed to enhance the efficiency of solar power systems [16]. - The company is actively involved in research and development of new technologies to improve the performance of its alloy materials [16]. - The company has a total of 242 patent applications, with 185 patents granted, including 4 in the US and 110 in Europe, demonstrating its strong R&D capabilities [51]. - The company is actively developing new products and materials to maintain its technological and R&D advantages in the new materials sector [88]. Market Expansion - The company has established a strong presence in both centralized and distributed photovoltaic power stations, contributing to its market expansion strategy [16]. - The company aims to expand its photovoltaic power station business in Southeast Asia, leveraging the manufacturing advantages in Vietnam to improve profitability [49]. - The company is actively exploring new markets, particularly in Vietnam, to capitalize on policy and growth opportunities in the renewable energy sector [55]. - The company has established a global sales network with service centers in China, Europe, North America, and Vietnam [39]. Financial Strategy - The company issued 1.2 billion A-share convertible bonds, significantly increasing financial expenses due to interest costs [67]. - The increase in sales expenses by 36.62% is attributed to the expansion of domestic and international sales personnel and increased transportation costs due to higher solar photovoltaic component sales [67]. - The company plans to invest $50 million in Vietnam to establish a production line with an annual capacity of 31,800 tons of special alloy rods and 20,000 tons of special alloy strips, with an actual investment of $8.8 million to date [78]. - The company acquired 100% equity of 384909 Ontario Limited for CAD 3.9 million, focusing on metal material surface coating processing, enhancing its value chain in North America [77]. Environmental Responsibility - The company has implemented a self-monitoring environmental plan in accordance with pollution discharge standards [145]. - The company has established emergency response plans for environmental incidents, which were reviewed and approved by external experts [144]. - The actual discharge of COD for the first half of 2020 was 2.7 tons, within the permitted limits [139]. - The company produced 5,400 tons of high-performance plating with a COD limit of 80 mg/L, achieving a reuse rate of 1.422 tons/year [141]. Shareholder Information - The company’s stock is listed on the Shanghai Stock Exchange under the ticker 601137, with no prior changes to its stock name [20]. - The largest shareholder, Bowei Group Co., Ltd., holds 232,340,968 shares, representing 33.94% of the total shares [153]. - The company has a total of 19,125 common shareholders as of the end of the reporting period [153]. - The company has identified Bowei Jinshi Investment Co., Ltd. and Bowei Group Co., Ltd. as acting in concert, indicating a strategic alignment among major shareholders [159].

Financial Performance - Operating income for the period was ¥1,932,202,868.31, representing a growth of 23.45% year-on-year[11] - Net profit attributable to shareholders of the listed company rose by 38.47% to ¥116,116,948.53[11] - Basic earnings per share increased by 21.43% to ¥0.17[11] - Diluted earnings per share rose by 7.14% to ¥0.15[11] - The company's net profit for the current period is 116,116,948.53 CNY, an increase from 86,413,378.30 CNY in the previous period, representing a growth of approximately 34.3%[47] - Total comprehensive income for the current period is 124,266,468.73 CNY, compared to 54,585,007.45 CNY in the previous period, indicating a significant increase of about 128.5%[47] - Operating profit for Q1 2020 was ¥129,423,641.83, compared to ¥93,985,841.08 in Q1 2019, representing a growth of 37.6%[45] - Net profit for Q1 2020 was ¥127,344,469.53, an increase from ¥98,966,751.64 in Q1 2019, marking a growth of 28.5%[45] Assets and Liabilities - Total assets at the end of the reporting period reached ¥7,671,069,223.48, an increase of 1.04% compared to the end of the previous year[11] - The company's total assets amounted to CNY 7,671,069,223.48, an increase from CNY 7,592,380,532.84 at the end of 2019[32] - The total liabilities of the company as of March 31, 2020, were CNY 3,687,807,055.33, compared to CNY 3,838,386,428.30 at the end of 2019[34] - Total liabilities rose to ¥2,177,995,212.52 from ¥1,346,616,477.89, an increase of 62.0%[40] - The company's long-term borrowings decreased significantly to CNY 128,231,235.95 from CNY 518,909,192.17 at the end of 2019, a decrease of about 75.30%[34] Cash Flow - Net cash flow from operating activities improved significantly to ¥46,912,862.82, a turnaround from a negative cash flow of ¥-133,062,711.71 in the same period last year, marking a 135.26% increase[11] - The net cash flow from operating activities was 46,912,862.82, a significant improvement from -133,062,711.71 in the previous period, indicating a recovery in operational efficiency[55] - Cash flow from operating activities for the current period is 1,944,394,056.03 CNY, compared to 1,624,552,740.60 CNY in the previous period, reflecting an increase of approximately 19.7%[52] - Total cash inflow from financing activities reached 2,153,278,361.28, compared to 521,871,341.68 in the prior period, reflecting increased borrowing and investment inflows[55] Inventory and Receivables - Inventory decreased by 12.94% to RMB 1,480,629,295.24, attributed to reduced stock of solar photovoltaic components[21] - Accounts receivable increased from ¥353,830,201.75 to ¥422,571,558.84, a rise of 19.4%[38] - The company's inventory decreased to CNY 1,480,629,295.24 from CNY 1,700,748,569.59 at the end of 2019, reflecting a reduction of approximately 12.93%[29] Expenses - The company reported a 59.75% increase in selling expenses, amounting to RMB 74,359,555.25, due to higher transportation costs associated with increased sales[23] - Research and development expenses for Q1 2020 were ¥40,665,549.41, up from ¥31,984,399.66 in Q1 2019, representing a 27.1% increase[45] - The company's research and development expenses for the first quarter of 2020 are 27,351,738.86 CNY, an increase from 20,978,197.78 CNY in the same quarter of 2019, indicating a growth of about 30.5%[50] Financing Activities - The company issued 12 million A-share convertible bonds, raising a total of RMB 120,000,000, with a net amount of RMB 118,785.85 million after issuance costs[21] - The company incurred 1,732,236,891.25 in cash outflows for debt repayment, significantly higher than 515,625,026.77 in the previous period, highlighting a focus on debt management[55] Other Information - The company has not disclosed any new product developments or market expansion strategies in this report[11] - The company reported non-operating income of ¥2,884,064.44 for the period[14]

Financial Performance - The net profit attributable to shareholders of the parent company for 2019 was CNY 440,063,630.58, with the parent company achieving a net profit of CNY 120,940,799.69[6]. - The total distributable profit for shareholders, including retained earnings from the previous year, amounted to CNY 1,527,080,052.74[6]. - The proposed cash dividend is CNY 2.00 per 10 shares, resulting in a total cash dividend distribution of CNY 134,234,827.80, which represents a cash dividend ratio of 30.50%[6]. - The total cash dividend, including share repurchase payments, reached CNY 140,404,430.32, accounting for 31.91% of the net profit attributable to shareholders[7]. - The company's operating revenue for 2019 was ¥7,591,642,075.25, representing a year-on-year increase of 4.03% compared to ¥7,297,290,684.61 in 2018[32]. - The net profit attributable to shareholders of the listed company reached ¥440,063,630.58, an increase of 10.97% from ¥396,562,732.83 in the previous year[32]. - The net profit after deducting non-recurring gains and losses was ¥393,474,124.15, reflecting a significant increase of 19.29% compared to ¥329,833,059.12 in 2018[32]. - Basic earnings per share for 2019 were ¥0.66, up 11.86% from ¥0.59 in 2018[35]. - The weighted average return on equity increased to 11.80% in 2019, up from 10.75% in 2018, indicating improved profitability[35]. - The company achieved a net profit of 95.41 million yuan in 2019, exceeding the commitment by 17.41 million yuan, reaching a completion rate of 122.32%[192]. Dividend Policy - The profit distribution plan is subject to approval at the 2019 annual general meeting of shareholders[7]. - The company plans to maintain its dividend distribution ratio even if there are changes in total share capital before the dividend distribution date[7]. - The company has a cash dividend policy that mandates a minimum of 30% of the average distributable profit over the last three years to be distributed as cash dividends[163]. - The cash dividend amount for 2019 was RMB 6,169,602.52, representing a dividend ratio of 4.39%[167]. - The company has not proposed a cash profit distribution plan despite having positive profits available for distribution to ordinary shareholders[167]. Operational Efficiency - The company did not face any significant operational risks during the reporting period, as detailed in the risk assessment section[9]. - The company has no non-operating fund occupation by controlling shareholders or related parties[9]. - There were no violations of decision-making procedures regarding external guarantees during the reporting period[9]. - The company has implemented organizational and process reforms to improve operational efficiency, reducing management levels from three to two[78]. - The company emphasizes a "sales-driven production" model, dynamically tracking customer orders to inform production planning[53]. Research and Development - The company is committed to enhancing its research and development capabilities to innovate in alloy materials and photovoltaic technologies[20]. - The company has applied for a total of 242 invention patents, with 185 granted, including 4 in the US and 110 in Europe, demonstrating its strong R&D capabilities[71]. - The company plans to continue investing in R&D for new materials to meet the growing demand in high-tech sectors such as 5G and electric vehicles[121]. - Research and development expenses increased by 7.49% to ¥178,429,098.21, attributed to higher spending on R&D projects[99]. - The company is committed to increasing R&D investment in special alloy materials to support the development of the new materials industry in China[61]. Market Position and Strategy - The company aims to expand its market presence through the introduction of new products and technologies in the alloy materials sector[20]. - The company has established a strong foundation in the photovoltaic industry, producing various types of solar cells including monocrystalline and polycrystalline[20]. - The company has positioned itself as a key supplier in high-tech industries such as 5G communications and new energy vehicles, driven by increasing market demand for advanced materials[66]. - The company aims to enhance the efficiency of photovoltaic products while expanding its market presence in Southeast Asia, leveraging manufacturing advantages in Vietnam[64]. - The company is focusing on the construction and technological upgrades of new materials projects, including a 50,000 tons special alloy strip project and a 6,700 tons aluminum welding wire project[143]. Acquisitions and Investments - The company completed the acquisition of 100% of the assets of Ningbo Bode High-tech Co., Ltd., which contributed ¥1,202,435,100 in revenue and ¥104,568,400 in net profit during the reporting period[35]. - The company completed a major asset restructuring, acquiring 100% of Ningbo Bode High-Tech Co., Ltd. for CNY 990 million, with total assets of Bode High-Tech at CNY 1.153 billion as of December 31, 2019[65]. - The integration of the acquired company, Bode High-Tech, resulted in a net profit of 9,540.88 million RMB, surpassing the promised figure by 122.32%[91]. - The company has invested a total of 62,578,000 CNY in the Vietnam power station project, with cumulative investment reaching 57,665,370 CNY as of the balance sheet date[129]. Risk Management - The company has established measures to conduct credit assessments and real-time tracking of customers to mitigate the risk of bad debts from accounts receivable[157]. - The company is enhancing its international operational capabilities to address risks from political and geopolitical crises in regions where it operates[157]. - The COVID-19 pandemic has led to a decline in orders and downstream demand, prompting the company to prepare for potential impacts on its overseas operations[158]. - The company has taken proactive steps to ensure employee safety and maintain production continuity during the pandemic, positioning itself as one of the first manufacturers to resume operations in Ningbo[158]. - The company has implemented a hedging management system to mitigate risks from fluctuations in raw material and product prices, aiming to minimize the impact on production operations[154]. Future Outlook - The company plans to establish an alloy strip business distribution center in Germany and a European application research center to enhance R&D collaboration[91]. - The company aims to increase new materials production capacity from 141,900 tons to 266,300 tons over the next three years[142]. - The sales target for new materials in 2020 is set at 172,800 tons, representing a year-on-year growth of 23.85%[143]. - The company anticipates that nearly 60% of global electricity investment from 2015 to 2040 will flow into renewable energy, with solar energy being a key focus[140]. - The demand for high-efficiency products in the international renewable energy market remains strong, indicating a positive outlook for future growth[138].