Financial Performance - The company's operating revenue for the first half of 2022 was CNY 3,963,906,289.87, representing a 1.11% increase compared to CNY 3,920,267,345.82 in the same period last year[27]. - Net profit attributable to shareholders for the first half of 2022 was CNY 776,584,032.02, a significant increase of 41.09% from CNY 550,421,342.75 in the previous year[27]. - The net cash flow from operating activities reached CNY 1,165,127,421.60, marking a 61.22% increase compared to CNY 722,689,501.76 in the same period last year[27]. - The total assets of the company at the end of the reporting period were CNY 15,684,307,671.82, which is a 9.88% increase from CNY 14,273,762,832.74 at the end of the previous year[27]. - The net assets attributable to shareholders increased to CNY 9,178,506,295.14, reflecting a 2.06% growth from CNY 8,993,197,324.78 at the end of the last year[27]. - Basic earnings per share for the first half of 2022 were CNY 0.53, up 43.24% from CNY 0.37 in the same period last year[28]. - The weighted average return on equity increased to 8.32%, up by 1.60 percentage points compared to 6.72% in the previous year[28]. - The company achieved a revenue of CNY 3.96 billion in the first half of 2022, representing a year-on-year increase of 1.11%[47]. - Net profit for the same period reached CNY 777 million, showing a significant year-on-year growth of 41.09%[43]. - Operating cash flow increased by 61.22% to CNY 1.17 billion, compared to CNY 722.69 million in the previous year[47]. Cost Management - The company’s operating costs decreased by 7.54% to CNY 2.87 billion, down from CNY 3.10 billion[47]. - Sales expenses rose by 40.67% to CNY 22.35 million, attributed to increased sales commission expenditures[47]. - Research and development expenses decreased by 7.72% to CNY 71.07 million, compared to CNY 77.01 million in the previous year[47]. Market Position and Expansion - The company maintains a strong market position as a leading producer of colored yarn in China, with over 30 years of industry experience[38]. - The company has established an overseas production base in Vietnam to enhance its market expansion efforts[42]. - The company launched new products such as "Color Rain Yarn" and "Starry Flower Yarn" to meet market demand[46]. - The company plans to continue focusing on market expansion and new product development to drive future growth[157]. - The company plans to expand into three new international markets by the end of 2022[200]. Risks and Challenges - The textile industry is facing significant risks due to macroeconomic fluctuations, geopolitical tensions, and the impact of the COVID-19 pandemic, which have created uncertainties in market demand[65]. - Cotton costs account for approximately 60%-70% of the company's production costs, making it vulnerable to price volatility driven by climate change and supply-demand dynamics[66]. - The company has reported a significant increase in labor costs, which, along with rising energy prices, could impact profitability if product prices do not adjust accordingly[65]. - The company has a net exposure to foreign currency fluctuations due to its international procurement of cotton and export of textile products, which could affect its financial performance[66]. - The ongoing COVID-19 pandemic continues to pose risks to production, transportation, and personnel movement, potentially impacting the company's operations[66]. Environmental Compliance - Ningbo Haide and Yuyao Baile are key pollutant discharge enterprises as per environmental protection department regulations[77]. - Ningbo Haide has a wastewater treatment capacity of 12,000 tons/day, while Yuyao Baile has a capacity of 4,000 tons/day[82]. - Both companies have established comprehensive environmental risk emergency mechanisms and have filed emergency plans with local governments[87]. - The companies utilize advanced testing instruments for environmental monitoring, ensuring compliance with discharge standards[88]. - No administrative penalties were imposed on the companies during the reporting period for environmental issues[89]. Shareholder and Corporate Governance - The company has committed to not transferring or managing their shares for 36 months post-IPO, ensuring stability in ownership[91]. - The company reported a 25% limit on the transfer of shares held by executives during their tenure and for six months post-departure[94]. - The total guarantee amount is 4.123 billion RMB, accounting for 44.92% of the company's net assets[116]. - The company has no non-operating fund occupation by controlling shareholders and other related parties during the reporting period[108]. - There are no major litigation or arbitration matters during the reporting period[109]. Future Outlook - The company expects revenue growth to accelerate to 20% in the second half of 2022, driven by new product launches[200]. - The company is targeting a net profit margin of 10% for the full year 2022[200]. - New product line expected to contribute an additional $200 million in revenue in 2023[200].

Financial Performance - The company's operating revenue for Q1 2022 was ¥1,975,169,385.92, representing a year-on-year increase of 5.39%[6] - The net profit attributable to shareholders for Q1 2022 was ¥344,561,110.27, reflecting a significant increase of 54.58% compared to the same period last year[6] - Basic and diluted earnings per share for Q1 2022 were both ¥0.23, up 53.33% year-on-year[9] - Total operating revenue for Q1 2022 was approximately ¥1.98 billion, an increase of 5.4% compared to ¥1.87 billion in Q1 2021[32] - Net profit for Q1 2022 reached approximately ¥344.56 million, representing a significant increase of 54.5% compared to ¥222.91 million in Q1 2021[34] Cash Flow - The net cash flow from operating activities decreased by 19.10% to ¥315,010,429.65 in Q1 2022[6] - Cash inflow from operating activities totaled approximately ¥2.05 billion, compared to ¥1.94 billion in the previous year, reflecting a growth of 5.5%[36] - The net cash flow from operating activities was $315,010,429.65, compared to $389,366,302.80 in the previous period, indicating a decrease[39] - The net cash flow from investing activities was -$138,438,154.21, an improvement from -$374,554,654.40 year-over-year[39] - Cash inflow from financing activities increased significantly to $2,764,053,965.30, up from $1,199,640,435.65[39] Assets and Liabilities - The total assets at the end of Q1 2022 amounted to ¥15,471,479,838.07, an increase of 8.39% from the end of the previous year[9] - Total liabilities increased to RMB 6,203,318,404.38 from RMB 5,280,565,507.96, marking a rise of 17.4%[27] - The company's total equity reached RMB 9,268,161,433.69, an increase from RMB 8,993,197,324.78, representing a growth of 3.1%[27] Investments and Expenses - The company reported a significant decline in investment income, with a loss of approximately ¥4.64 million compared to a gain of ¥30.43 million in the previous year[32] - Research and development expenses increased to approximately ¥26.36 million, up from ¥24.19 million, indicating a focus on innovation[32] - Tax expenses for Q1 2022 were approximately ¥23.44 million, compared to ¥9.35 million in Q1 2021, showing an increase of 151.5%[34] Shareholder Information - The company held 26,000,008 shares in its repurchase account, accounting for 1.73% of total shares[19] - The actual controllers of the company, Yang Weixin and Yang Weiguo, collectively hold 30.96% of the company's shares[19] Cash and Cash Equivalents - The company reported a 71.73% increase in cash and cash equivalents due to increased bank borrowings[12] - Cash and cash equivalents reached RMB 2,588,399,826.69, up from RMB 1,507,212,121.66, representing a growth of 71.6% year-over-year[22] - The total cash and cash equivalents at the end of the period reached $2,219,183,152.03, up from $723,899,438.58[39]

Financial Performance - In 2021, the company achieved a revenue of ¥7,774,077,153.45, representing a 26.73% increase compared to ¥6,134,557,248.06 in 2020[23] - The net profit attributable to shareholders was ¥1,370,780,511.95, a significant increase of 274.47% from ¥366,054,425.04 in the previous year[23] - The net profit after deducting non-recurring gains and losses reached ¥1,318,484,767.08, up 358.72% from ¥287,425,427.89 in 2020[23] - The net cash flow from operating activities was ¥1,453,063,618.95, reflecting a 19.55% increase from ¥1,215,437,188.44 in 2020[23] - By the end of 2021, the net assets attributable to shareholders amounted to ¥8,993,197,324.78, a 13.94% increase from ¥7,892,836,824.33 at the end of 2020[23] - Basic earnings per share rose to ¥0.93, a 272% increase compared to ¥0.25 in 2020[26] - The weighted average return on equity improved to 16.24%, an increase of 11.64 percentage points from 4.60% in 2020[26] - The total operating revenue for 2021 reached 7.77 billion RMB, representing a 26.73% increase compared to the previous year[64] - The net profit for 2021 was 1.37 billion RMB, reflecting the company's strong financial performance[64] Dividend and Shareholder Returns - The company plans to distribute a cash dividend of ¥5 per 10 shares, totaling ¥736,999,996, based on a total share capital of 1,473,999,992 shares after accounting for repurchased shares[6] - The company plans to implement a shareholder return plan for the next three years (2021-2023)[119] - The total remuneration payable to all directors, supervisors, and senior management at the end of the reporting period was 8.3633 million yuan[135] - The actual remuneration received by all directors, supervisors, and senior management at the end of the reporting period was also 8.3633 million yuan[135] Operational Highlights - The company achieved a total sales volume of 241,779.56 tons of yarn in 2021, with a year-on-year increase of 11.76%[68] - The company achieved a total sales revenue of ¥2.57 billion from the sale of grey fabric during the reporting period[38] - The company’s revenue from its Vietnam factory reached 4.283 billion yuan, a year-on-year increase of 16.42%, with a net profit of 939 million yuan, up 310.04% compared to the previous year[54] - The company plans to expand its production capacity in Vietnam to meet increasing downstream customer demands[38] - The company’s overseas sales revenue was approximately 4.71 billion RMB, with a gross margin of 29.78%[67] Research and Development - Research and development expenses totaled ¥155,094,673.42, representing 2.00% of operating income, with no capitalized R&D expenditures[76] - The company launched 5 new color card series and received 3 patent authorizations during the reporting period, showcasing its innovation capabilities[59] - The company plans to continue increasing R&D investment to maintain its innovation leadership in the industry[103] - The company invested 100 million RMB in R&D for new technologies aimed at improving production efficiency[129] Market and Industry Trends - The textile industry in China saw a total revenue of 5.1749 trillion yuan in 2021, with a year-on-year growth of 12.3% and a profit total of 267.7 billion yuan, increasing by 25.4%[49] - In 2021, China's textile and apparel exports reached 315.5 billion USD, marking an 8.4% year-on-year increase, with apparel exports growing by 24%[50] - The gross profit margin for the cotton spinning industry was 25.95%, an increase of 15.37 percentage points year-on-year[65] - The gross margin improved to 35%, up from 32% in the previous year, due to cost control measures[129] Risk Factors and Challenges - The company faces risks from macroeconomic fluctuations, market competition, and volatility in raw material and labor costs, with cotton costs comprising 60%-70% of production costs[104][105] - The company is facing operational risks due to significant fluctuations in cotton prices, which may impact its business performance if production costs rise without corresponding price adjustments[107] - The ongoing COVID-19 pandemic continues to negatively impact the company's overseas procurement and sales operations due to limited shipping capacity and strict domestic pandemic control measures[108] Governance and Compliance - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[8] - The company has not violated any decision-making procedures for providing guarantees[8] - The company emphasizes the importance of timely and accurate information disclosure, publishing 75 announcements in 2021 to protect investor rights[115] - The company has maintained effective internal control over financial reporting as of December 31, 2021, according to an evaluation by Tianjian Accounting Firm[115] Environmental Responsibility - The company has established a comprehensive environmental risk emergency mechanism, ensuring efficient response to pollution incidents[181] - The company utilizes advanced testing instruments for environmental monitoring, ensuring compliance with discharge standards[182] - No administrative penalties were imposed on the company during the reporting period for environmental issues[183] - The company adheres to environmental impact assessment regulations for all new, modified, and expanded projects[180] Strategic Plans and Future Outlook - The company plans to raise up to 1 billion RMB through a non-public offering of A-shares to fund the expansion of its 390,000 spindle yarn project in Vietnam, enhancing its capital strength and production capacity[111][112] - The company aims to maintain its position as a global leader in the color spinning industry, focusing on technological innovation as a core competitive advantage[98] - The company plans to expand its market presence through strategic acquisitions and partnerships in the textile industry[91] - The company provided a revenue guidance for 2022, expecting a growth rate of 10% to 12%[129]

证券代码：601339 证券简称：百隆东方 公告编号：2021-068 | --- | --- | |----------------------------------------------------------------------|-------| | | | | 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，由宁波上市公司协会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 年度投资者网上集体接待日。活动于 2021 年 11 月 18 日 下 午 15:00-17:00 举 行 ， 平 台 登 陆 地 址 为 ： https://rs.p5w.net/。 届时，百隆东方股份有限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"一 ...

Financial Performance - The company's operating revenue for Q3 2021 was ¥1,636,297,444.68, representing a year-over-year increase of 5.70%[7] - The net profit attributable to shareholders for the same period was ¥241,142,359.28, showing a significant increase of 464.13% compared to the previous year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses reached ¥226,826,535.21, up 652.13% year-over-year[7] - The basic earnings per share for Q3 2021 was ¥0.16, reflecting a 433.33% increase compared to the same period last year[9] - The diluted earnings per share also stood at ¥0.16, with a similar increase of 433.33% year-over-year[9] - Operating profit for the third quarter of 2021 was ¥841,186,413.81, compared to ¥214,552,068.19 in the third quarter of 2020, marking a significant increase[37] - Net profit for the third quarter of 2021 was ¥791,563,702.03, up from ¥178,999,857.34 in the same quarter of 2020, representing a growth of approximately 341%[37] - Total operating revenue for the first three quarters of 2021 reached ¥5,556,564,790.50, a 33% increase from ¥4,179,487,419.25 in the same period of 2020[34] Assets and Liabilities - The total assets at the end of the reporting period were ¥13,404,946,168.26, a 1.87% increase from the end of the previous year[10] - The equity attributable to shareholders increased by 9.11% to ¥8,612,139,796.09 compared to the end of the previous year[10] - The company's total assets amounted to RMB 13,404,946,168.26, an increase from RMB 13,159,427,998.05 at the end of 2020[25] - Total liabilities decreased to ¥4,792,806,372.17 in 2021 from ¥5,266,591,173.72 in 2020[30] - Total current liabilities decreased to RMB 4,284,645,991.53 from RMB 4,517,570,414.16, indicating a decline of about 5.15%[28] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥990,041,034.64, reflecting a 38.14% increase compared to the previous year[10] - Cash flow from operating activities for the first three quarters of 2021 was ¥5,924,194,355.47, an increase from ¥4,452,168,688.59 in the same period of 2020[41] - The net cash flow from operating activities was $990,041,034.64, an increase of 38.1% compared to $716,672,036.67 in the previous period[43] - The total cash outflow from operating activities amounted to $4,934,153,320.83, up from $3,735,496,651.92, reflecting a 32.2% increase[43] - The net cash flow from investment activities was -$217,725,565.82, an improvement from -$334,698,139.22 in the previous period[43] - The net cash flow from financing activities was -$721,129,874.76, an improvement from -$1,085,675,676.29 in the previous period[43] Shareholder Information - The company reported a total of 26,000,008 shares held in the repurchase account, accounting for 1.73% of total shares[21] - The top ten shareholders collectively hold 74.41% of the company's equity, with the largest shareholder, New Country Investment Development Co., holding 29.72%[22] Research and Development - Research and development expenses for the first three quarters of 2021 were ¥105,831,446.76, compared to ¥83,619,265.84 in the same period of 2020, indicating a focus on innovation[34] Other Financial Metrics - The weighted average return on equity increased by 7.32 percentage points to 9.57% compared to the previous year[10] - The company's cash and cash equivalents reached RMB 770,401,833.96, up from RMB 646,896,696.75 in the previous year, reflecting a growth of approximately 19.06%[25] - Inventory increased to RMB 3,703,224,271.50 from RMB 3,485,934,582.68, representing a rise of about 6.26% year-over-year[25] - The company's accounts receivable decreased to RMB 555,335,566.85 from RMB 658,006,274.09, a decline of approximately 15.61%[25] - Long-term equity investments stood at RMB 2,267,970,409.97, down from RMB 2,318,066,583.88, reflecting a decrease of about 2.15%[28] - The company’s total non-current assets increased to RMB 7,563,949,533.37 from RMB 7,522,271,340.56, showing a growth of approximately 0.55%[28] - The company reported a foreign currency translation difference of ¥68,281,823.15 in the third quarter of 2021, compared to a loss of ¥150,335,237.76 in the same quarter of 2020[39] - Deferred income tax liabilities decreased to ¥25,896,910.51 in 2021 from ¥29,452,816.05 in 2020, reflecting improved tax management[30] - The impact of exchange rate changes on cash and cash equivalents was $87,978,792.28, compared to -$160,331,378.69 previously[45] - The net increase in cash and cash equivalents was $139,164,386.34, a recovery from a decrease of -$864,033,157.53 in the prior period[45] - The ending balance of cash and cash equivalents was $576,454,468.11, down from $650,175,451.75[45] - The company reported a total cash outflow for investing activities of $5,011,893,889.41, compared to $4,448,433,291.93, reflecting a 12.7% increase[43]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 2,631,461,290.34, representing a year-on-year increase of 48.98%[22] - The net profit attributable to shareholders of the listed company reached CNY 136,253,776.46, a significant increase of 303.97% compared to the same period last year[22] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 104,777,518.15, up 403.71% year-on-year[22] - The net cash flow from operating activities was CNY 370,024,270.97, reflecting a year-on-year increase of 95.31%[22] - The company achieved a sales revenue of CNY 3.92 billion, representing a 48.98% increase compared to the same period last year[42] - The net profit for the period was CNY 550 million, reflecting strong performance amid market recovery[42] - Basic earnings per share for the first half of 2021 were CNY 0.37, a 311.11% increase compared to CNY 0.09 in the same period last year[22] - The company reported a significant increase in revenue, achieving a total of 1.2 billion yuan for the first half of 2021, representing a year-over-year growth of 15%[102] - The company provided a positive outlook for the second half of 2021, projecting a revenue growth of 10% to 15%[102] Assets and Liabilities - The total assets at the end of the reporting period amounted to CNY 13,159,427,998.05, an increase of 5.16% compared to the end of the previous year[22] - The net assets attributable to shareholders of the listed company were CNY 7,892,836,824.33, up 4.94% from the previous year-end[22] - The company's cash and cash equivalents increased by 100.80% year-over-year, reaching ¥1,298,977,543.91[45] - The total amount of short-term loans rose by 12.94% compared to the previous year, totaling ¥3,941,331,389.77[45] - The company's overseas assets amounted to ¥6,792,202,687.13, accounting for 49.08% of total assets[46] - The total liabilities increased, with a significant portion attributed to short-term bank loans[45] - The total assets as of June 30, 2021, amounted to CNY 6,044,155,684.15, an increase from CNY 5,637,156,657.49 at the end of December 2020, reflecting a growth of approximately 7.2%[137] - The total liabilities at the end of the reporting period were CNY 4,006,848,585.10, reflecting a decrease from CNY 4,006,848,585.10[192] Research and Development - Research and development expenses rose by 47.41% to CNY 77 million, as the company resumed normal spending after pandemic-related reductions[42] - Research and development investments increased by 30%, focusing on innovative technologies and product enhancements[102] Market Position and Strategy - The company has a strong market position as a leading color-spun yarn producer, leveraging its 30 years of industry experience[35] - The company continues to focus on product innovation and market adaptation to meet customer demands[40] - The company is focusing on expanding its market presence and enhancing its product offerings through new technology and product development[50] - The company is actively exploring new strategies for market expansion and product innovation, which are critical for sustaining growth in a competitive landscape[138] Environmental Compliance - The company’s subsidiary, Ningbo Haide, is classified as a key pollutant discharge unit by environmental protection authorities[80] - Ningbo Haide's actual COD discharge was 50.15 tons/year, significantly lower than the approved limit of 196.07 tons/year[81] - The actual nitrogen discharge from Ningbo Haide was 5.09 tons/year, below the approved limit of 36.77 tons/year[81] - The company has established comprehensive environmental risk emergency mechanisms and has filed emergency plans with local governments[87] - No administrative penalties were imposed on the companies during the reporting period for environmental issues[89] Shareholder and Governance - The company has not proposed any profit distribution or capital reserve transfer for the current period[71] - The company has undergone changes in its board and supervisory personnel, with new appointments made to ensure continuity in governance[70] - The total number of ordinary shareholders at the end of the reporting period was 28,250[124] - The company has a significant shareholder structure, with Yang Wei Xin and Yang Wei Guo collectively holding 74.41% of the shares, indicating strong control over the company[129] Cash Flow and Financial Management - Cash flow from operating activities generated approximately ¥722 million, a notable increase from ¥370 million in the prior period[165] - Cash flow from investing activities showed a net outflow of approximately ¥46 million, contrasting with a net inflow of ¥89 million previously, indicating increased investment activity[165] - The company established a strategic partnership with Ningbo Tongshang Bank for comprehensive banking services, enhancing financial management capabilities[107] Challenges and Risks - The textile industry is closely linked to macroeconomic conditions and national policies, facing significant uncertainties due to geopolitical tensions, trade disputes, and the COVID-19 pandemic[60] - Cotton costs account for approximately 60%-70% of the company's production costs, making it vulnerable to price fluctuations driven by climate change and market volatility[61] - The company is exposed to foreign exchange risks due to international procurement and exports, with significant net exposure to USD fluctuations[61] - Rising labor costs and shortages in frontline operations are increasingly prominent, potentially affecting the company's operational efficiency[61] Stock Options and Incentives - The company completed the first phase of the stock option incentive plan with a total of 4 million options granted on March 31, 2021[75] - The second phase of the stock option incentive plan was approved on April 21, 2021, with 2,200,000.08 options granted[76] - The company held a temporary shareholders' meeting on March 30, 2021, to approve the second phase of the stock option incentive plan[76]

2021 年第一季度报告 公司代码：601339 公司简称：百隆东方 百隆东方股份有限公司 2021 年第一季度报告 1 / 22 2021 年第一季度报告 í 重要提示 = 、 公司基本情况 líl 重要事项 四、 附录 ... . 目录 2 / 22 2021 年第一季度报告 单位：元 币种：人民币 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准 确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法 律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人杨卫新、主管会计工作负责人潘虹及会计机构负责人（会计主管人员） 董奇涵保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |----------------------------------------|-------------------|-----------------------|----------------------------- ...

Financial Performance - In 2020, the company achieved a total revenue of ¥6,134,557,248.06, a decrease of 1.40% compared to ¥6,221,786,385.25 in 2019[22] - The net profit attributable to shareholders was ¥366,054,425.04, representing an increase of 22.92% from ¥297,808,907.84 in the previous year[22] - The net profit after deducting non-recurring gains and losses was ¥287,425,427.89, up by 9.16% from ¥263,316,539.88 in 2019[22] - The net cash flow from operating activities reached ¥1,215,437,188.44, an increase of 26.95% compared to ¥957,403,707.46 in 2019[22] - The net profit attributable to shareholders for Q4 2020 was CNY 187,054,567.70, showing a significant increase compared to previous quarters[26] - The operating cash flow for Q4 2020 reached CNY 611,627,050.45, indicating strong cash generation capabilities[26] - Basic earnings per share increased by 25.00% to CNY 0.25 from CNY 0.20[25] - Diluted earnings per share also increased by 25.00% to CNY 0.25 from CNY 0.20[25] - The gross profit margin for the cotton spinning industry segment was 10.58%, a decrease of 5.55 percentage points compared to the previous year[68] Dividend and Profit Distribution - The company plans to distribute a cash dividend of ¥2 per 10 shares, totaling ¥294,800,018.40, based on a total share capital of 1,500,000,000 shares[6] - As of the end of 2020, the accumulated undistributed profits amounted to ¥1,874,619,296.18 after accounting for the legal surplus reserve[6] - In 2020, the company distributed cash dividends totaling 294.8 million RMB, representing 78.22% of its net profit attributable to shareholders[123] - The company’s cash dividend payout ratio reached 104.21% in 2020, indicating a strong commitment to returning value to shareholders[125] Research and Development - The total R&D expenditure was ¥138,617,428.40, accounting for 2.26% of total revenue, with 1,029 R&D personnel, representing 6.20% of the total workforce[81] - The company launched two sets of trendy color cards and received two invention patents and two utility model patents during the reporting period[53] - The company has been focusing on the R&D and production of colored yarn, leveraging a unique processing method that enhances product value and environmental benefits[35] - The company launched 5 new innovative color card series and 2 trend color card series during the reporting period, enhancing its high-value product line[62] Market and Sales Performance - The company generated CNY 2.259 billion in revenue from the sale of grey fabric, accounting for 36.82% of total sales revenue[37] - The revenue from gray fabric was ¥2,259,425,304.40, showing a significant increase of 45.64% year-on-year, with a gross margin of 3.74%, down by 1.34 percentage points[71] - Domestic revenue in China was ¥2,298,895,150.84, a decline of 14.82%, with a gross margin of 1.06%, down by 11.69 percentage points[71] - International revenue reached ¥3,553,835,073.71, an increase of 14.94%, with a gross margin of 16.73%, down by 2.34 percentage points[71] - Yarn production volume was 204,851.44 tons, up by 5.19%, while sales volume was 216,343.31 tons, increasing by 12.31%[72] Operational Efficiency - The company has invested annually in upgrading production lines and dyeing processes to enhance product quality and innovation[55] - The company invested CNY 8.7875 million in equipment upgrades to enhance automation and efficiency, supporting new product development and pandemic response[63] - Sales expenses decreased significantly by 73.26% to CNY 38.13 million, reflecting cost control measures during the pandemic[66] - The company has implemented measures to enhance internal management and reduce costs while improving quality and efficiency[112] Strategic Initiatives - The company emphasizes technological innovation as its core competitive advantage, aiming to be a global leader in the color spinning industry[53] - The company is adapting to market changes by leveraging new sales models such as short videos and live streaming to expand its market reach[106] - The company is addressing labor shortages by investing in automation and intelligent textile machinery[106] - The company has established a production base in Vietnam, which now accounts for 60% of its total capacity with 1 million spindles, enhancing its cost advantage and international competitiveness[111] Financial Position and Assets - The net assets attributable to shareholders decreased by 1.01% to CNY 7,892,836,824.33 from CNY 7,973,621,681.07[25] - Total assets decreased by 8.07% to CNY 13,159,427,998.05 from CNY 14,314,591,438.11[25] - The company’s overseas assets amounted to approximately 6.32 billion RMB, representing 48% of total assets[52] - The company reported a net cash outflow from investment activities of ¥571,246,406.91, attributed to continued investment in expanding production capacity in Vietnam[84] Risk Management - The company faces risks from macroeconomic fluctuations, industry competition, and potential increases in raw material and labor costs[113][116] - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[9] - The company has not violated any decision-making procedures for providing guarantees[9] - The company has not encountered any major accounting errors or changes in accounting policies that would affect its financial statements[138] Corporate Governance - The company’s financial report has been audited by Tianjian Accounting Firm, which issued a standard unqualified opinion[5] - The actual controller and shareholders committed to not transferring or entrusting their shares for 36 months from the date of the company's stock listing, with a limit of 25% share transfer per year after that[128] - The company has committed to avoiding any direct or indirect competition with its main business and will prioritize investment opportunities for its subsidiaries[131] - There are no significant lawsuits or arbitration matters reported for the year[141]

2020 年第三季度报告 公司代码：601339 公司简称：百隆东方 百隆东方股份有限公司 2020 年第三季度报告 1 / 27 2020 年第三季度报告 一、 重要提示 二、 公司基本情况. 11[ 重要事项 四、 附录 目录 2 / 27 2020 年第三季度报告 单位：元 币种：人民币 3 / 27 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人杨卫新、主管会计工作负责人潘虹及会计机构负责人（会计主管人员）董奇涵保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |-----------------------------|------------------------------|-------------------------------------|-------------- ...

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 2,631,461,290.34, a decrease of 8.14% compared to CNY 2,864,510,487.25 in the same period last year [22] - The net profit attributable to shareholders of the listed company was CNY 136,253,776.46, down 39.31% from CNY 224,493,044.47 in the previous year [22] - The net profit after deducting non-recurring gains and losses was CNY 104,777,518.15, a decrease of 54.81% compared to CNY 231,846,851.19 in the same period last year [22] - Basic earnings per share for the first half of 2020 were CNY 0.09, down 40.00% from CNY 0.15 in the same period last year [23] - The weighted average return on net assets was 1.69%, a decrease of 1.18 percentage points compared to 2.87% in the previous year [23] - The total profit for the first half of 2020 was CNY 150,930,113.57, compared to CNY 249,669,717.05 in the same period of 2019, indicating a decrease of approximately 39.5% [146] - The total comprehensive income for the first half of 2020 was CNY 171,176,509.13, compared to CNY 195,588,038.07 in the same period of 2019, showing a decrease of approximately 12.5% [146] Cash Flow and Assets - The net cash flow from operating activities was CNY 370,024,270.97, compared to a negative cash flow of CNY -509,882,072.16 in the previous year [22] - Cash and cash equivalents at the end of the period amounted to ¥370,742,242.34, restricted due to margin requirements [57] - The total assets at the end of the reporting period were CNY 14,265,708,524.60, a slight decrease of 0.34% from CNY 14,314,591,438.11 at the end of the previous year [22] - The company's cash flow from operating activities was CNY 2,929,717,134.89 for the first half of 2020, slightly down from CNY 3,001,800,333.20 in the same period of 2019 [155] - The ending balance of cash and cash equivalents was CNY 1,198,620,828.75, down from CNY 1,663,768,161.51 [163] Industry Context - The textile industry in China saw a 6.7% year-on-year decline in industrial added value from January to June 2020, with a significant recovery in the production of industrial textiles, which increased by 57.8% [30] - The overall revenue of large-scale textile enterprises in China decreased by 16.4% year-on-year, with total profits down by 19% during the first half of 2020 [37] - The domestic retail sales of clothing and textile products decreased by 19.6% year-on-year in the first half of 2020, although the decline narrowed by 12.6 percentage points compared to the first quarter [34] - The textile industry faced significant operational pressures, with 32.6% of large-scale enterprises reporting losses, and the average profit margin for these enterprises was 3.8% [37] - Fixed asset investment in the textile industry dropped by 27.3% year-on-year in the first half of 2020, indicating a slowdown in growth and investment activities [38] Company Strategy and Operations - The company aims to enhance its market position by focusing on high-value-added products, particularly in the colored spun yarn segment, which has shown resilience amid market challenges [30] - The company has not disclosed any plans for new products, technologies, market expansion, or mergers and acquisitions in this report [8] - The company actively adapted to market changes by expanding product lines and developing new products, including antibacterial and eco-friendly yarns [48] - The company maintained a competitive position in the textile industry, with a production capacity of over 190,000 tons of colored yarn annually [45] - The company has over 60% of its production capacity in Vietnam, making it vulnerable to the ongoing COVID-19 pandemic, which could severely impact export operations and management of overseas subsidiaries [73] Financial Liabilities and Guarantees - The company provided guarantees totaling RMB 44.69 billion to its subsidiaries, accounting for 56.04% of the latest audited net assets as of June 30, 2020 [100] - The total amount of guarantees provided by the company, including those to subsidiaries, is RMB 44.69 billion, which represents 55.48% of the company's net assets [97] - The company has no overdue guarantees and has not provided guarantees to any entities other than its subsidiaries during the reporting period [100] Environmental Compliance - Ningbo Haide has a wastewater treatment capacity of 12,000 tons per day, effectively meeting production needs and complying with environmental standards [105] - The actual COD emissions from Ningbo Haide were 33.01 tons per year, significantly lower than the approved limit of 196.07 tons per year, with a concentration of 52.78 mg/l against a standard of 80 mg/l [104] - The company has established a comprehensive environmental risk emergency mechanism, ensuring efficient response to pollution incidents [110] - The company has implemented a self-monitoring scheme for environmental compliance, utilizing advanced testing equipment for wastewater analysis [111] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 32,903, with the largest shareholder holding 29.72% of shares [117] - The company reported a 36-month lock-up period for shares post-IPO, during which no shares can be transferred or managed by others [82] - After the lock-up period, executives can transfer up to 25% of their total shares each year during their tenure, and no transfers are allowed within six months after leaving the company [82] Research and Development - The company reduced R&D expenses by 30.75% to ¥52.241 million due to the impact of the pandemic [50] - The company's R&D expenses for the first half of 2020 were CNY 58,824,829.05, down from CNY 82,013,902.49 in the previous year, reflecting a reduction of about 28.3% [152]