2023 年第一季度报告 证券代码：603002 证券简称：宏昌电子 宏昌电子材料股份有限公司 2023 年第一季度报告 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 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比上年同期增减 | | --- | --- | --- | | | | 变动幅度(%) | | 营业收入 | 544,280,569.11 | -38.61 | | 归属于上市公司股东的净利润 | 18,454,357.03 | -66.92 | | 归属于上市公司股东的扣除非经常 | 17,367,098.20 | -68.20 | | 性损益的净利润 | | | | 经营活动产生的现金流量净额 | 140,618,866.37 | 62.54 | 1 / 14 2023 年第一季度报告 | 基本每股收益（元/股） | | 0.02 | -66.67 | | --- | --- | --- | --- | | 稀释每股收益（元/股） | | 0.02 | ...

Financial Performance - The company's operating revenue for 2022 was approximately ¥3.02 billion, a decrease of 32.12% compared to ¥4.45 billion in 2021[22]. - Net profit attributable to shareholders increased by 48.65% to approximately ¥556.78 million from ¥374.56 million in the previous year[22]. - Basic earnings per share rose by 51.22% to ¥0.62, while diluted earnings per share also increased to ¥0.62[23]. - The net cash flow from operating activities significantly decreased by 85.27% to approximately ¥49.63 million from ¥337.00 million in 2021[22]. - Total assets decreased by 21.02% to approximately ¥3.60 billion from ¥4.56 billion in 2021[22]. - The company's net assets attributable to shareholders increased by 17.99% to approximately ¥2.46 billion compared to ¥2.08 billion in 2021[22]. - The weighted average return on equity rose to 24.99%, an increase of 6.50 percentage points from 18.49% in 2021[23]. - Non-recurring gains and losses amounted to approximately ¥420.21 million in 2022, significantly impacting net profit[27]. - The cash flow from operating activities showed a negative trend in the last two quarters, indicating potential liquidity challenges[24]. - The gross profit margin for the main business was 8.69%, a decrease of 5.47 percentage points year-on-year[94]. Investment and Projects - The company plans to invest in projects such as the second phase of Zhuhai Hongchang Electronic Materials Co., Ltd. and an annual production of 80,000 tons of electronic-grade functional epoxy resin[13]. - The company plans to raise up to RMB 150,000,000.00 through a non-public offering of A-shares, with the funds allocated to various projects including the expansion of production capacity for epoxy resin and copper-clad laminates[37][39]. - The company is constructing a project with a total investment of CNY 779.25 million, aiming for an annual production capacity of 140,000 tons of liquid epoxy resin to meet market demand in the electronics sector[43]. - The second phase of the project has a construction period of 24 months and is expected to enhance the company's competitive edge in the market[43]. - The third phase of the project, with a total investment of CNY 420.99 million, aims to produce 80,000 tons of electronic-grade functional epoxy resin, further expanding the company's production capacity[45]. Market and Industry Trends - The epoxy resin market demand was weak in 2022 due to sluggish end-market demand, new capacity coming online, geopolitical conflicts, and rising global inflation[64]. - The global smartphone shipment volume in 2022 was approximately 1.21 billion units, a year-on-year decrease of 11.3%, while China's smartphone market shipment volume was about 286 million units, down 13.2% year-on-year[66]. - The copper-clad laminate (CCL) industry is experiencing a stable competitive landscape, with increased production capacity and technological advancements driven by the growth of 5G and artificial intelligence[65]. - The new energy vehicle market in China saw production and sales of 7.058 million and 6.887 million units in 2022, respectively, marking a year-on-year growth of 96.9% and 93.4%, further increasing the demand for copper-clad laminates[155]. Research and Development - The company has established a research and development center for electronic-grade epoxy resin, holding 38 invention patents and 85 non-patented technologies as of the end of 2022[119]. - The company has developed new resin products, including a new generation of polyether resin for high-temperature and high-humidity applications, which is currently in the evaluation stage with end customers[50]. - The company is actively pursuing the development of halogen-free phosphorus-containing polyether resin, which has already received domestic patent authorization in the first half of 2022[50]. - The company has completed product optimization and application evaluation for its ultra 5G resin, with plans for customer evaluation and certification in 2023[50]. - Eight new products were developed in the epoxy resin segment during the reporting period, with a total of 20 ongoing research projects[105]. Governance and Compliance - The company has received a standard unqualified audit report from Tianzhi International Accounting Firm, ensuring the authenticity and completeness of the financial report[5]. - The company has a commitment to maintaining high standards of financial reporting and governance, as evidenced by the attendance of all board members at the meeting[4]. - The company has established a governance structure that complies with relevant laws and regulations, ensuring effective decision-making and oversight[166]. - The company held 2 shareholder meetings and 9 board meetings during the reporting period, ensuring compliance with governance protocols[167][169]. - The company published 4 periodic reports and 60 temporary announcements in 2022, maintaining transparency and accuracy in information disclosure[171]. Shareholder Relations and Remuneration - The company plans to implement a shareholder return plan for the next three years (2022-2024) as part of its future strategy[176]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period was 12.83 million yuan[182]. - The company emphasizes the importance of maintaining harmonious investor relations through multiple communication channels[174]. - The company has a cash dividend policy that prioritizes cash dividends, with a minimum distribution of 30% of the distributable profits for the year, provided that the company has positive distributable profits and sufficient cash flow[200]. Risks and Challenges - The company's overall performance has been impacted by geopolitical conflicts and global inflation, leading to reduced demand in the epoxy resin and copper-clad laminate markets[30]. - The company faces risks from fluctuations in raw material prices and changes in downstream industry demand, particularly in the epoxy resin and copper-clad laminate sectors[160]. - The company is addressing risks related to high customer concentration in the copper-clad laminate business, focusing on diversifying its customer base and optimizing product structure[163].

关于召开 2022 年度业绩说明会的公告 证券代码：603002 证券简称：宏昌电子 公告编号：2023-018 宏昌电子材料股份有限公司 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。 重要内容提示： 会议召开时间：2023 年 04 月 27 日(星期四)下午 15:00-16:30 会议召开地点：上海证券交易所上证路演中心 （网址：http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心视频直播和网络互动 投资者可于 2023 年 04 月 20 日(星期四)至 04 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"栏目或通过公司邮箱 stock@graceepoxy.com 进行提问。公司将在说明会上对投资者普遍关注的问题 进行回答。 宏昌电子材料股份有限公司（以下简称"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 04 ...

2022 年第三季度报告 单位：元 币种：人民币 1 / 14 证券代码：603002 证券简称：宏昌电子 宏昌电子材料股份有限公司 2022 年第三季度报告 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： 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、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 本报告期比上 年初至报告期末 | --- | --- | --- | --- | --- | |------------------------------------------------|----------------|-------------------------|------------------|------------------------- ...

公司代码：603002 公司简称：宏昌电子 2022 年半年度报告 宏昌电子材料股份有限公司 2022 年半年度报告 1 / 141 2022 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确性、 完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人林瑞荣、主管会计工作负责人萧志仁及会计机构负责人（会计主管人员）叶迪宁 声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 √适用 □不适用 本半年度报告中涉及公司经营和发展战略等未来计划的前瞻性陈述，该计划不构成公司对投资者 的实质承诺，请投资者注意投资风险。 七、 是否存在被控股股东及其关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况？ 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提示 具体请见本报告第三节"管理层 ...

2022 年第一季度报告 证券代码：603002 证券简称：宏昌电子 宏昌电子材料股份有限公司 2022 年第一季度报告 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。 重要内容提示 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、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务报表 信息的真实、准确、完整。 第一季度财务报表是否经审计 □是√否 一、 主要财务数据 (一)主要会计数据和财务指标 | --- | --- | --- | --- | |-----------------------------------------------|----------|----------------|-------------------------------------| | | | | 单位：元 币种：人民币 | | 项目 | 本报告期 | | 本报告期比上年同期增减 变动幅度 (%) ...

Financial Performance - The company's operating revenue for 2021 was CNY 4,452,711,902.10, representing a 77.81% increase compared to CNY 2,504,199,868.15 in 2020[26]. - The net profit attributable to shareholders for 2021 was CNY 374,561,519.66, a 67.17% increase from CNY 224,061,830.36 in 2020[26]. - The net profit after deducting non-recurring gains and losses for 2021 was CNY 370,032,649.45, which is a 152.17% increase compared to CNY 146,737,074.94 in 2020[26]. - The company's total assets at the end of 2021 were CNY 4,555,618,143.56, a 32.19% increase from CNY 3,446,147,032.29 at the end of 2020[26]. - The basic earnings per share for 2021 was CNY 0.41, up 64.00% from CNY 0.25 in 2020[26]. - The weighted average return on equity for 2021 was 18.49%, an increase of 5.53 percentage points from 12.96% in 2020[26]. - The net cash flow from operating activities for 2021 was CNY 337,004,808.81, a slight increase of 4.77% from CNY 321,651,598.10 in 2020[26]. - The company achieved operating revenue of 4.45 billion RMB, an increase of 77.81% year-on-year[96]. - Net profit reached 374.56 million RMB, up 67.17% compared to the previous year, with earnings per share of 0.41 RMB[96]. - The total assets of the company increased to 4.56 billion RMB, a year-on-year growth of 32.19%[96]. - The company's weighted average return on equity was 18.49%, an increase of 5.53 percentage points year-on-year[96]. Dividend Distribution - The proposed profit distribution plan for 2021 is to distribute a cash dividend of RMB 2.90 per 10 shares, totaling approximately RMB 262.12 million, which accounts for 69.98% of the net profit attributable to shareholders of RMB 374.56 million[6]. - The company has confirmed that there are no risks related to the inability of the majority of directors to guarantee the authenticity and completeness of the annual report[8]. Audit and Compliance - The company has received a standard unqualified audit report from Tianzhi International Accounting Firm, ensuring the authenticity and completeness of the financial report[5]. - The company does not have any non-operating fund occupation by controlling shareholders or related parties, nor any violations in decision-making procedures for external guarantees[8]. - The company emphasizes that forward-looking statements regarding future plans do not constitute substantive commitments to investors, highlighting the importance of investment risk awareness[7]. - The company published 4 periodic reports and 75 temporary announcements in 2021, maintaining transparency and accuracy in information disclosure[187]. - No significant internal control deficiencies were found during the reporting period, with all identified general deficiencies addressed in a timely manner[187]. - The company has updated its internal control systems, ensuring compliance with relevant regulations and improving governance practices[187]. Research and Development - The company is focused on developing electronic-grade epoxy resins, which meet high purity and performance stability requirements for the electronics industry[16]. - The company has applied for a total of 10 patents across various new resin developments, indicating a strong focus on innovation in the 5G materials sector[51]. - The company has established a research and development center for electronic-grade epoxy resin in 2013 and holds 28 invention patents as of the end of 2021[136]. - The company launched 6 new products during the reporting period and has 20 ongoing R&D projects, with 7 newly initiated[117]. - The company has 141 R&D personnel, making up 22.89% of the total workforce, with 9 invention patents applied for and 2 granted during the reporting period[116][117]. Market and Industry Trends - The epoxy resin market has seen increased demand due to the rise in downstream electronic terminal products and wind turbine blade installations, leading to a price increase and robust demand[65]. - The copper-clad laminate industry is experiencing a stable competitive landscape, with significant demand from sectors such as consumer electronics, communication equipment, and automotive electronics[66]. - The global PCB market value reached $65.22 billion in 2020 and is expected to increase to $86.33 billion by 2025, with China's PCB market projected to grow from $35.05 billion in 2020 to $46.04 billion in 2025[166]. - As of the end of 2021, China had built and activated 1.425 million 5G base stations, establishing the world's largest 5G network, which will drive demand for high-frequency and high-speed copper-clad laminates[167]. - In 2021, domestic production and sales of new energy vehicles reached 3.545 million and 3.521 million units, respectively, representing a year-on-year growth of 160%[168]. Corporate Governance - The company held 3 shareholder meetings during the reporting period, ensuring compliance with legal requirements and allowing all shareholders, especially minority shareholders, to exercise their voting rights[184]. - The board of directors convened 12 times, with independent directors actively participating and providing valuable insights on related party transactions and profit distribution plans[184]. - The supervisory board met 5 times, overseeing the legality and compliance of the company's operations and management[184]. - The company revised its articles of association during the 2021 first extraordinary general meeting, with over two-thirds of voting rights in favor[192]. - The 2020 annual general meeting approved 13 proposals, all receiving more than half of the voting rights in favor, including the annual financial report and related party transactions[192]. Production and Operations - The company is constructing a new epoxy resin production project with a planned annual capacity of 140,000 tons, following the approval of investment project registration[45]. - The production of epoxy resin is primarily automated, with a focus on planned production based on sales forecasts, while copper-clad laminates are produced based on specific customer orders[77]. - The company has a designed capacity of 15.5 million tons per year at its Zhuhai plant, with a capacity utilization rate of 90.32%[142]. - The company is expanding its production applications in the high-frequency and high-speed product sectors to strengthen its competitive advantage[174]. Financial Management - The total operating cost for the period was CNY 3,803,287,113.84, representing an 80.87% increase compared to CNY 2,102,827,934.36 in the same period last year[108]. - The cost of epoxy resin was CNY 2,494,450,888.15, accounting for 65.59% of total costs, while the cost of copper-clad laminates/semi-cured sheets was CNY 1,308,836,225.69, accounting for 34.41%[108]. - The company reported a gross margin of 14.58% for its main business, a decrease of 1.45 percentage points compared to the previous year[103]. - The company has a stable supply of high-quality raw materials from leading manufacturers, ensuring consistent product quality and performance[95]. - The company’s epoxy resin business benefits from a direct sales model, allowing for quick adjustments to pricing based on raw material costs and market conditions[81]. Environmental and Safety Standards - The company is committed to high environmental standards and is focused on developing high-end, green, and environmentally friendly products[132]. - The company has invested in safety and environmental protection measures in response to national policies on carbon neutrality and safety production[131]. - The company is committed to environmental safety and compliance, which may increase operational pressures and costs[176].

2021 年第三季度报告 证券代码：603002 证券简称：宏昌电子 宏昌电子材料股份有限公司 2021 年第三季度报告 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。 重要内容提示： 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、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 报表信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 1 / 16 2021 年第三季度报告 单位：元 币种：人民币 一、 主要财务数据 (一)主要会计数据和财务指标 | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------------------|------------------|-------------------|----------------|---- ...

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥2,073,179,199.61, representing a 100.15% increase compared to ¥1,035,804,354.39 in the same period last year[20]. - Net profit attributable to shareholders was ¥197,946,332.02, a significant increase of 136.91% from ¥83,553,628.21 in the previous year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥195,732,876.18, marking a 332.85% increase from ¥45,219,592.95 in the same period last year[20]. - Basic earnings per share for the first half of the year was 0.22 RMB, an increase of 144.44% compared to the same period last year[22]. - The weighted average return on net assets increased by 4.59 percentage points to 9.57% compared to the same period last year[22]. - Operating costs rose to RMB 1,736,538,190.47, an increase of 99.07% from RMB 872,304,818.36 year-on-year[91]. - Research and development expenses increased by 68.01%, reaching RMB 35,912,718.56 compared to RMB 21,375,178.10 in the previous year[91]. Cash Flow and Assets - The net cash flow from operating activities for the reporting period was -40,181,909.12 RMB, a decrease of 138.22% compared to the previous year[22]. - The net assets attributable to shareholders of the listed company decreased by 1.27% to 1,945,482,488.07 RMB compared to the end of the previous year[22]. - Total assets increased by 8.09% to 3,725,024,410.79 RMB compared to the end of the previous year[22]. - Accounts receivable increased by 55.50% to RMB 1.30 billion, attributed to higher sales volume[95]. - Short-term borrowings rose by 62.88% to RMB 116.04 million, reflecting increased bank loans[95]. - Total liabilities increased to CNY 1,779,541,922.72, compared to CNY 1,475,733,237.19 at the end of 2020, marking a rise of 20.6%[196]. - Cash and cash equivalents decreased to CNY 828,963,478.91 from CNY 1,024,244,062.71, a decline of 19.1%[192]. Market and Product Development - The epoxy resin market saw price increases and strong demand due to rising raw material prices and increased demand from downstream electronic terminal products[31]. - The copper-clad laminate industry is benefiting from the rapid development of 5G base stations and the growth of electronic consumption, leading to increased orders for copper-clad laminate manufacturers[32]. - The company focuses on high-end, environmentally friendly products and customized solutions to enhance product competitiveness[31]. - The company has nearly 3,000 accumulated customers, with approximately 1,000 active transactions during the reporting period, enhancing its market responsiveness[47]. - The company has established a high-end positioning by introducing electronic-grade epoxy resin, significantly reducing reliance on imported products in the domestic market[51]. - The company has developed a new generation of phosphorus-containing epoxy resin, which is expected to become a mainstream product in the halogen-free market[77]. - The company is conducting research on 6G resin materials to meet future technological demands[78]. Research and Development - The company holds 24 domestic invention patents, 1 Japanese patent, 1 US patent, and 1 Taiwanese patent, with 11 additional patents under review, showcasing its strong R&D capabilities[48]. - The company has implemented fine management in production, focusing on quality control and cost reduction, which has improved production efficiency[58]. - The company has successfully optimized existing materials for PCB clients, achieving mass production certification for multiple products[85]. - The company has applied for multiple patents related to its new product developments, indicating a strong focus on innovation[79]. Environmental and Social Responsibility - The company has implemented strict environmental protection measures, with specific pollutant emissions from its subsidiaries monitored and reported, including methanol emissions of 0.0038 tons and acetone emissions of 0.0033 tons in the first half of 2021[117]. - The company emphasizes continuous investment in environmental protection facilities and promotes a clean production and circular economy model to enhance environmental management[126]. - The company donated RMB 30,000 to the Zhuhai Red Cross Society as part of its social responsibility initiatives[145]. - Zhuhai Hongchang has implemented comprehensive environmental protection measures, including three sets of waste gas treatment devices and a wastewater treatment station[127]. Corporate Governance and Shareholder Information - The company has not proposed any profit distribution plan or capital reserve transfer to increase share capital for this reporting period[6]. - The company has not faced any violations in decision-making procedures for external guarantees[7]. - The total amount of guarantees provided by the company, including those to subsidiaries, was RMB 918 million, which accounted for 47.19% of the company's net assets[165]. - The company’s share structure remained unchanged during the reporting period, with no new shares issued or existing shares canceled except for the performance compensation[170]. - The total number of ordinary shareholders at the end of the reporting period was 27,846[175]. - The company repurchased and canceled a total of 10,596,116 shares at a total price of RMB 1.00 due to unmet performance commitments from a major asset restructuring in 2020[109].

Financial Performance - Net profit attributable to shareholders increased by 168.12% to CNY 83,294,189.66 year-on-year[18] - Operating income rose by 92.82% to CNY 886,838,811.05 compared to the same period last year[18] - Basic earnings per share increased by 125.00% to CNY 0.09 per share[21] - The company reported a significant increase in net profit excluding non-recurring gains and losses, up 408.16% to CNY 82,377,739.52[18] - Total operating revenue for Q1 2021 reached ¥886,838,811.05, a significant increase of 92.8% compared to ¥459,940,484.42 in Q1 2020[60] - Net profit for Q1 2021 was ¥83,294,189.66, representing a 168.4% increase from ¥31,066,047.28 in Q1 2020[60] - The comprehensive income total for Q1 2021 was ¥83,951,999.01, up from ¥31,210,162.19 in Q1 2020[62] Assets and Liabilities - Total assets increased by 3.77% to CNY 3,576,044,252.35 compared to the end of the previous year[18] - Current liabilities rose to CNY 1,516,791,053.86, up from CNY 1,470,880,342.81, reflecting an increase of approximately 3.10%[50] - The total liabilities increased to CNY 1,521,678,458.24 from CNY 1,475,733,237.19, reflecting an increase of approximately 3.11%[50] - The company's equity attributable to shareholders increased to CNY 2,054,365,794.11 from CNY 1,970,413,795.10, marking a growth of about 4.26%[50] - Non-current assets totaled CNY 853,053,824.62, a slight decrease from CNY 862,368,680.74, indicating a decline of about 1.83%[50] Cash Flow - Net cash flow from operating activities decreased by 139.02% to -CNY 10,848,867.95 compared to the previous year[18] - Cash inflow from operating activities is 927,261,618.57, up from 712,102,403.44, representing a 30.19% increase year-over-year[70] - Cash outflow from operating activities totals 938,110,486.52, compared to 684,301,524.07 last year, reflecting a 37.14% increase[70] - The net cash flow from investing activities is 13,434,767.00, down from 41,978,983.64, indicating a decrease of 67.99%[73] - The net cash flow from financing activities is 1,310,974.13, a significant recovery from -114,711,477.67 in the previous year[73] Expenses - The cost of goods sold increased by 87.29% to RMB 738,347,083.82, driven by higher sales volume and rising raw material costs[34] - Research and development expenses rose by 60.23% to RMB 15,354,444.13, reflecting increased direct investment in R&D[34] - The company experienced a 150.80% increase in taxes and surcharges, amounting to RMB 2,234,824.03, due to higher city construction tax and education fees[34] Shareholder Information - The number of shareholders at the end of the reporting period was 24,612[27] - The largest shareholder, EPOXY BASE INVESTMENT HOLDING LTD., holds 27.74% of the shares[27] Other Comprehensive Income - The company reported a 94.01% increase in other comprehensive income, resulting in a loss of RMB -41,934.03 due to changes in exchange rates and fair value of other investments[32] - Other comprehensive income after tax for Q1 2021 was ¥657,809.35, significantly higher than ¥144,114.91 in Q1 2020[62] Forecast and Commitments - The company has committed to a profit forecast, ensuring net profits of no less than RMB 86 million, RMB 94 million, and RMB 120 million for the years 2020, 2021, and 2022 respectively[41]