Financial Performance - In 2021, the company's operating revenue reached CNY 494.96 million, an increase of 27.06% compared to CNY 389.55 million in 2020[20]. - The net profit attributable to shareholders decreased by 42.49% to CNY 63.82 million from CNY 110.97 million in 2020[20]. - The basic earnings per share fell to CNY 0.45, down 43.04% from CNY 0.79 in 2020[21]. - The weighted average return on equity decreased by 6.17 percentage points to 7.07% from 13.24% in 2020[21]. - The net cash flow from operating activities was CNY 78.56 million, a decline of 23.92% from CNY 103.25 million in 2020[20]. - The total assets increased by 8.01% to CNY 1,079.82 million at the end of 2021, compared to CNY 999.74 million at the end of 2020[20]. - The gross profit margin decreased by 14.37 percentage points compared to the previous year[67]. - The company achieved total revenue of CNY 494,955,740.71, a year-on-year increase of 27.06%, with new products significantly contributing to this growth[31]. - The net profit attributable to shareholders was CNY 63,816,103.25, a decrease of 42.49% year-on-year, primarily due to rising raw material costs and increased shipping fees[31]. Dividend Policy - The company plans to distribute a cash dividend of RMB 1.10 per 10 shares, totaling RMB 20,146,246.12, with a cash dividend payout ratio of 31.57%[6]. - The company distributed a cash dividend of CNY 2.40 per 10 shares (including tax) for the 2020 fiscal year, totaling CNY 33,815,913.60 (including tax)[183]. - The company has established a three-year shareholder return plan (2021-2023) that outlines the conditions and ratios for cash dividends[182]. - The profit distribution policy is compliant with the company's articles of association and includes clear standards and ratios for dividends[186]. - The decision-making process for adjusting the profit distribution policy involves gathering opinions from minority shareholders and requires approval from the board and shareholders' meeting[185]. Research and Development - The company successfully developed and industrialized 19 new products during the reporting period, enhancing its market competitiveness and supporting sustained business growth[32]. - The company applied for 14 invention patents and 1 utility model patent, with 5 invention patents and 1 utility model patent granted during the reporting period, bringing the total to 21 authorized patents[33]. - The company’s R&D team comprises over one-third of its total workforce, focusing on developing proprietary products and technologies, which has led to numerous patents and industry recognition[58]. - The company’s R&D expenses rose by 5.89% to CNY 22,174,402.12, reflecting ongoing investment in product development[68]. - The company is committed to developing new types of environmentally friendly foaming agents and key additives to meet the urgent need for ODS alternatives in the polyurethane industry[44]. Market and Competitive Position - The company is positioned in the chemical raw materials and chemical products manufacturing industry, with a focus on polyurethane foam stabilizers[92][95]. - The company’s market share in the polyurethane foam stabilizer sector is among the top in the industry, reflecting its strong brand influence and customer resource advantages[97]. - The company is actively promoting the localization of key polyurethane additives, aiming for high-quality and sustainable development to enhance its global competitiveness[42]. - The company is targeting the high-end polyurethane specialty chemicals market, developing high-performance and high-value-added polyurethane additives[128]. - The company is enhancing its global operations and supply chain through overseas investments and acquisitions to improve talent acquisition, technology response, and product market launch capabilities[130]. Risk Management - The company has identified risks related to raw material price fluctuations, exchange rate fluctuations, safety and environmental risks, and investment risks in new projects[10]. - The company is facing five major challenges in the chemical industry, including risks from pandemic control and increased protectionism, as well as pressure from domestic economic downturns[121]. - The company faces risks from raw material price fluctuations, particularly for key materials like organic silicon monomer and polyols, which could impact production costs and profit margins[135]. - The company is exposed to exchange rate fluctuations due to its international sales, primarily denominated in USD and EUR, which can affect competitiveness and financial performance[136]. Corporate Governance - The company has maintained strict compliance with information disclosure regulations, ensuring timely and accurate reporting to protect investor interests[148]. - The board of directors strictly adheres to the election procedures as per the Company Law and Securities Law, ensuring compliance with legal requirements[146]. - The supervisory board operates in accordance with the Company Law and has effectively supervised the board of directors and senior management, safeguarding shareholder interests[147]. - The company emphasizes investor relations management, actively engaging with investors through various channels to gather feedback on operations and future development[149]. - The company has established specialized committees under the board to enhance decision-making and oversight efficiency[146]. Environmental Responsibility - The company’s wastewater treatment facilities are operating normally, ensuring compliance with the Jiangsu Province discharge standards for chemical industry water pollutants[200]. - The company has implemented a three-stage condensation and water absorption system for treating production exhaust, ensuring compliance with volatile organic compound emission standards[200]. - The company’s environmental protection measures include regular monitoring and compliance with local environmental regulations[200]. - The company has established a comprehensive pollution prevention and control system to manage its environmental impact effectively[200]. - The company has not reported any exceedances in its wastewater discharge limits during the reporting period[198]. Strategic Initiatives - The company plans to invest 120 million RMB in the construction of the "Polyurethane Additives Engineering Technology Center" project[116]. - The company aims to achieve a strategic shift from a single additive supplier to a multi-additive and solution provider, enhancing its international competitiveness[124]. - The company is focusing on diversifying its market presence and product offerings to mitigate risks from geopolitical tensions and trade conflicts[139]. - The company is committed to enhancing its safety and environmental management systems to prevent accidents and comply with national regulations[137]. - The company is actively monitoring market trends to adapt its business strategies accordingly, ensuring competitiveness in the industry[155].

Financial Performance - The company's revenue for Q3 2021 was CNY 108,343,519.46, a decrease of 0.51% compared to the same period last year[5]. - Net profit attributable to shareholders for Q3 2021 was CNY 9,362,599.26, down 80.95% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2021 was CNY 8,768,882.01, a decrease of 66.43% compared to the previous year[5]. - Basic earnings per share for Q3 2021 was CNY 0.07, a decline of 80.00% compared to the same period last year[6]. - The diluted earnings per share for Q3 2021 was also CNY 0.07, reflecting the same percentage decrease of 80.00%[6]. - Total operating revenue for the first three quarters of 2021 reached ¥355,859,237.80, a significant increase of 29.3% compared to ¥275,154,899.59 in the same period of 2020[19]. - Net profit for the first three quarters of 2021 was ¥46,327,721.21, a decrease of 48.7% from ¥90,329,578.02 in the same period of 2020[20]. - Basic and diluted earnings per share for the first three quarters of 2021 were both ¥0.33, down from ¥0.64 in the previous year[21]. Cash Flow and Liquidity - The cash flow from operating activities for the year-to-date period was CNY 25,095,025.00, down 59.34% year-on-year[5]. - Operating cash inflow for Q3 2021 was CNY 292,489,615.25, an increase from CNY 213,223,108.66 in Q3 2020, reflecting a growth of approximately 37%[25]. - Cash flow from operating activities for the first three quarters of 2021 was ¥272,417,315.83, an increase of 33.5% compared to ¥204,078,648.44 in 2020[24]. - Cash and cash equivalents at the end of Q3 2021 totaled CNY 155,064,315.44, down from CNY 435,902,726.95 at the end of Q3 2020, indicating a decrease of approximately 64%[26]. - Cash outflow for operating activities was CNY 267,394,590.25, up from CNY 151,506,030.34 in the previous year, indicating a rise of about 77%[25]. - The company paid CNY 33,820,814.64 in dividends and interest during Q3 2021, compared to CNY 22,554,466.07 in Q3 2020, reflecting an increase of approximately 50%[26]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,033,339,421.64, an increase of 3.36% from the end of the previous year[6]. - The company's total assets as of September 30, 2021, amount to 1,033,339,421.64 RMB, an increase from 999,738,516.99 RMB at the end of 2020[16]. - The total current assets decreased to 732,277,203.85 RMB from 777,881,636.41 RMB year-over-year[16]. - The company's total liabilities increased to 126,599,743.42 RMB from 109,064,946.61 RMB year-over-year[17]. - Total liabilities included short-term borrowings of CNY 2,901,018.22 and accounts payable of CNY 49,277,383.64 as of Q3 2021[29]. - Total liabilities amounted to 109,064,946.61, with a non-current liability total of 6,506,393.53[30]. Shareholder Equity - The equity attributable to shareholders at the end of the reporting period was CNY 904,750,997.40, up 1.81% from the end of the previous year[6]. - The total equity attributable to shareholders increased to 428,697,553.76 RMB from 416,174,481.32 RMB year-over-year[17]. - The company's total equity attributable to shareholders was ¥906,739,678.22, an increase from ¥890,673,570.38 in the previous year[18]. - Total equity attributable to shareholders reached 888,677,656.73, with total equity of 890,673,570.38[30]. Operational Challenges - The decline in net profit was primarily due to rising prices of raw materials and shipping costs, which remained high[10]. - The company has no significant new product or technology developments reported in the current quarter[13]. - The company plans to continue focusing on market expansion and new product development to drive future growth[20]. Other Financial Metrics - The weighted average return on equity for Q3 2021 was 1.04%, a decrease of 4.79 percentage points compared to the previous year[6]. - The company reported a foreign exchange loss of ¥90,278.29 for the first three quarters of 2021, compared to a loss of ¥359,747.85 in the same period of 2020[21]. - Research and development expenses for the first three quarters of 2021 amounted to ¥16,281,076.23, slightly up from ¥15,509,343.26 in the same period of 2020[19]. - The company has implemented the new leasing standards since January 1, 2021, affecting financial statement adjustments[31].

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 247,515,718.34, representing a 48.87% increase compared to CNY 166,259,720.12 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was CNY 36,972,354.78, a decrease of 10.20% from CNY 41,172,565.41 in the previous year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 36,187,043.29, which is a 1.76% increase from CNY 35,561,051.35 in the same period last year[18]. - The net cash flow from operating activities was CNY 21,212,763.00, down 50.01% from CNY 42,429,903.93 in the previous year[18]. - The company's basic earnings per share decreased by 10.34% to CNY 0.26 compared to the same period last year[19]. - The net profit attributable to shareholders decreased by CNY 4.20 million, primarily due to rising raw material costs and increased logistics expenses[19]. - Operating cash flow decreased by CNY 21.22 million, mainly due to higher cash payments for raw material purchases[20]. - Revenue increased by CNY 81.26 million, attributed to market recovery and demand growth, along with contributions from new product launches[19]. Assets and Liabilities - As of the end of the reporting period, the net assets attributable to shareholders of the listed company were CNY 895,465,427.19, a 0.76% increase from CNY 888,677,656.73 at the end of the previous year[18]. - The total assets at the end of the reporting period were CNY 1,027,677,899.18, reflecting a 2.79% increase from CNY 999,738,516.99 at the end of the previous year[18]. - The company's cash and cash equivalents at the end of the period were ¥572,490,528.96, a decrease of 9.15% from ¥630,141,457.57 at the end of the previous year[61]. - The accounts receivable increased by 48.43% to ¥93,779,451.06 from ¥63,179,536.51, attributed to the increase in operating revenue[61]. - Total liabilities rose to CNY 130,219,153.95, compared to CNY 109,064,946.61 at the end of 2020, marking an increase of approximately 19.4%[143]. - Shareholders' equity reached CNY 897,458,745.23, up from CNY 890,673,570.38, reflecting a growth of about 0.9%[143]. Research and Development - The company is focusing on the development of new products and technologies to meet the evolving demands of the polyurethane industry[26]. - The company has established a comprehensive R&D, procurement, production, quality control, sales, and customer service system to enhance operational efficiency[31]. - The company has been recognized as a national high-tech enterprise and has established several innovation platforms, with over one-third of its employees engaged in research and development[41]. - The company is actively involved in the research and development of new environmentally friendly blowing agents and key additives, responding to the urgent need for sustainable solutions in the polyurethane industry[38]. - The company has obtained 2 new invention patents during the reporting period, bringing the total to 18, and has been recognized for several innovative products[50]. Environmental Compliance - Jiangsu Meiside Chemical Co., Ltd. reported a total wastewater discharge of 0.3445 tons with a COD concentration of 166.36 mg/L, adhering to local environmental standards[89]. - The company’s wastewater treatment facilities are operational, ensuring compliance with the Jiangsu Province's first-level standards for major water pollutants[91]. - The company has implemented a comprehensive pollution prevention strategy, including regular monitoring and maintenance of pollution control facilities[91]. - The company has passed the ISO 14001 environmental management system certification, demonstrating its commitment to environmental protection[99]. - The company is committed to safety and environmental management, implementing a comprehensive safety management system to improve operational safety levels[54]. Strategic Initiatives - The company plans to invest in a new organic amine catalyst project with a capacity of 45,000 tons per year, with the first phase of 25,000 tons expected to start construction in the second half of the year[25]. - The company is implementing a non-public offering of A-shares to fund the organic amine project, aiming to improve competitiveness in both domestic and international markets[55]. - The company has established strategic partnerships with suppliers to stabilize raw material supply and control costs[71]. - The company is preparing to invest in the construction of a catalyst production plant to provide better products and technical services to domestic and international customers[44]. Shareholder Relations - The controlling shareholder, Demai Group, committed to not reducing its shareholding in the company for three years post-listing and to limit any reductions to no more than 5% of its total shareholding in the following two years[109]. - The company reported a commitment to strictly adhere to all public commitments made during its initial public offering, with penalties for non-compliance including salary reductions for responsible executives[110]. - The company has established measures to ensure that executive compensation is linked to performance metrics and return measures[110]. - The company will ensure that any related party transactions are conducted on fair and reasonable terms, without seeking preferential conditions[109]. Stock Incentive Plan - The first phase of the restricted stock incentive plan granted 898,000 shares at a price adjusted to 10.46 CNY per share[85]. - The company plans to repurchase and cancel 15,000 shares of restricted stock at an adjusted price of 8.21 CNY per share[85]. - The total number of shares granted in the first phase of the incentive plan was adjusted from 970,000 to 898,000 shares[85]. - The company has notified creditors regarding the repurchase and cancellation of part of the restricted stock[85]. Market Expansion - The company expanded its market presence by establishing a Shanghai branch and an international subsidiary in Germany, focusing on high-end markets and enhancing technical services[51]. - The company is focusing on the development of environmentally friendly and high-performance additives, aligning with the industry's shift towards high-quality growth during the "14th Five-Year Plan" period[38]. - The company has launched new high-end products, including low thermal conductivity rigid foam agents and low-odor high rebound foam agents, which have gained market recognition and contributed to an increase in market share[49].

Financial Performance - The company's operating revenue for 2020 was RMB 389,549,116.60, representing a 15.05% increase compared to RMB 338,597,203.51 in 2019[20]. - The net profit attributable to shareholders of the listed company reached RMB 110,966,394.78, a significant increase of 54.03% from RMB 72,040,655.40 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was RMB 81,019,508.06, up 39.81% from RMB 57,947,863.94 in 2019[20]. - The net cash flow from operating activities was RMB 103,253,835.81, reflecting a 38.06% increase from RMB 74,787,710.10 in 2019[20]. - Total assets at the end of 2020 amounted to RMB 999,738,516.99, an increase of 13.74% from RMB 878,944,289.60 at the end of 2019[20]. - The net assets attributable to shareholders of the listed company were RMB 888,677,656.73, which is an 11.68% increase from RMB 795,707,610.09 in 2019[20]. - The basic earnings per share increased by 54.90% to CNY 0.79 compared to CNY 0.51 in the previous year[21]. - The net profit attributable to shareholders increased by CNY 38.93 million, driven by new product sales growth and increased sales to key customers[22]. - The net cash flow from operating activities increased by CNY 28.47 million, attributed to sales growth from quality customers and improved asset turnover efficiency[22]. - The diluted earnings per share also rose by 54.90% to CNY 0.79, consistent with the basic earnings per share[21]. - The weighted average return on equity increased to 13.24%, up from 9.44% in the previous year[21]. - The total profit reached ¥129,030,980.61, reflecting a growth of 54.51% year-on-year[56]. Dividend Policy - The company plans to distribute a cash dividend of RMB 2.40 per 10 shares, totaling RMB 33,815,913.60 based on the total share capital of 140,899,640 shares[5]. - In 2019, the company distributed RMB 2.20 per 10 shares, amounting to RMB 22,141,372.00, with a net profit distribution ratio of 30.73%[128]. - The company has a three-year shareholder dividend plan (2018-2020) that outlines conditions and ratios for cash dividends[123]. - The independent directors have approved the dividend distribution proposals, ensuring compliance with regulations and protection of minority shareholders' rights[126]. - The company has committed to maintaining a transparent and compliant profit distribution policy, with clear decision-making processes for any adjustments[127]. Research and Development - The company has established a comprehensive R&D, procurement, production, quality control, sales, and customer service system to enhance operational efficiency[31]. - The company focuses on the R&D of polyurethane foam stabilizers, which are essential additives in the production of polyurethane foam plastics[30]. - The company has been recognized as a national high-tech enterprise and has established several innovation platforms to promote product customization and technological advancement[32]. - The company has a strong R&D advantage, with over one-third of its workforce in research roles, and has developed new products recognized as innovative by local authorities[41]. - The company applied for 10 new invention patents in 2020, bringing the total authorized invention patents to 15[82]. - The company is focusing on high-performance, high-quality, and sustainable development in response to market demand upgrades in the polyurethane industry[101]. - The company is committed to a strategic transformation from "polyurethane dispersants" to "polyurethane additives" to drive new business development[113]. Market and Sales Strategy - The domestic sales model combines direct sales and distribution, with hard foam agents primarily sold directly to large manufacturers, while soft foam agents are mainly sold through distributors[35]. - The company has formed long-term stable business relationships with reputable overseas clients and distributors, expanding its international business through various channels[36]. - The company anticipates steady growth in the polyurethane industry, driven by higher safety and environmental standards, leading to intensified competition in the polyurethane foam agent sector[101]. - The company plans to increase its international market share and aims to rank among the top three in the global polyurethane foam stabilizer segment[103]. - The company aims to strengthen its leading position in the polyurethane foam stabilizer industry through innovation-driven strategies[102]. Risk Management - The company has identified risks related to raw material price fluctuations, exchange rate fluctuations, and environmental safety, which investors should be aware of[7]. - The company faces risks from raw material price fluctuations, exchange rate volatility, and safety and environmental concerns, with strategies in place to mitigate these risks[116][117][118]. - The company has implemented a comprehensive safety management system, enhancing its operational safety and compliance with environmental standards[54]. Environmental Compliance - The company prioritizes safety production and environmental protection, implementing ISO9001, ISO14001, and ISO45001 management systems to enhance operational efficiency[172]. - The company adheres to various environmental protection laws and has passed the ISO 14001 environmental management system certification[184]. - The company’s subsidiary, Nanjing Meiside New Materials Co., Ltd., is classified as a key pollutant discharge unit, with specific wastewater discharge data reported[175]. - Wastewater treatment facilities operate normally, ensuring compliance with local environmental discharge standards before releasing treated water into the Yangtze River[177]. - The company has established standardized facilities for hazardous waste storage and management, ensuring proper disposal through qualified units[180]. Corporate Governance - The company has committed to not interfere with its operational management and to protect shareholder interests[141]. - The company commits to strictly fulfill all public commitments made during its initial public offering and actively accepts social supervision[144]. - The company will publicly explain the specific reasons for non-fulfillment at the shareholders' meeting and apologize to shareholders and the public[146]. - The company will ensure that any related party transactions are conducted fairly and will not seek benefits beyond those stipulated in agreements[133]. Shareholder Commitments - The controlling shareholder, Foshan Shunde De Mei Chemical Group Co., Ltd., committed not to transfer or manage its shares for 36 months post-listing, with an automatic extension of the lock-up period if certain price conditions are met[131]. - The actual controller, Huang Guanyong, also pledged not to transfer or manage his shares for 36 months after the company's listing[132]. - Shareholders holding more than 5% of the company, including Nanjing Shichuang and Sun Yu, committed to not reducing their holdings for one year post-listing, with a maximum of 5% reduction per year thereafter[135]. - The company will announce any stock reductions three trading days in advance, adhering to legal and regulatory requirements[134]. Financial Management - The company approved the use of up to RMB 500 million of idle funds for cash management, focusing on high-security and high-liquidity short-term financial products[160]. - The total amount of entrusted financial management includes RMB 33.8 million in bank financial products and RMB 5 million in securities financial products, with no overdue amounts[161]. - The annualized return rates for various entrusted financial products range from 3.20% to 4.10%, with expected returns totaling RMB 502.23 million for one of the bank financial products[162]. Employee Relations - The company emphasizes employee rights and welfare, ensuring timely and full payment of social insurance, which contributes to harmonious labor relations[170]. - The company has implemented an employee stock incentive plan, with the first phase granting 898,000 restricted stocks at a price of 10.62 RMB per share[153].

Financial Performance - Operating revenue rose by 52.89% to CNY 124,609,447.68 year-on-year[6] - Net profit attributable to shareholders decreased by 1.38% to CNY 20,595,136.04 compared to the same period last year[6] - The company reported a basic earnings per share of CNY 0.15, unchanged from the previous year[6] - Revenue for Q1 2021 reached ¥124.61 million, a 52.89% increase compared to ¥81.50 million in the same period last year[13] - Net profit for Q1 2021 was CNY 20,596,206.33, slightly down by 1.4% from CNY 20,883,492.32 in Q1 2020[29] - Total operating revenue for Q1 2021 was CNY 124,609,447.68, an increase of 53.0% compared to CNY 81,502,808.80 in Q1 2020[27] - Total profit for Q1 2021 was CNY 12,583,008.25, a decrease of 46.4% from CNY 23,479,167.75 in Q1 2020[32] Assets and Liabilities - Total assets increased by 3.31% to CNY 1,032,854,991.88 compared to the end of the previous year[6] - Total assets as of March 31, 2021, amounted to ¥1,032.85 million, up from ¥999.74 million at the end of 2020[19][22] - The total liabilities increased to ¥121.11 million from ¥109.06 million, reflecting higher operational costs and short-term borrowings[22] - Total liabilities as of March 31, 2021, were CNY 74,703,179.58, compared to CNY 62,819,441.50 at the end of 2020, reflecting a rise of 19.0%[25] - The company's total equity increased to CNY 790,978,568.04 from CNY 779,952,063.61 at the end of 2020, a growth of 1.3%[25] - The company's total assets as of Q1 2021 were CNY 999,738,516.99, showing a minor decrease from CNY 1,000,204,545.11 at the start of the year[41] - The total liabilities of the company as of Q1 2021 were CNY 109,064,946.61, slightly down from CNY 109,530,974.73 at the beginning of the year[42] Cash Flow - Net cash flow from operating activities decreased by 42.54% to CNY 7,765,809.13[6] - Cash generated from operating activities fell by 42.54% to ¥7.77 million compared to ¥13.52 million in the previous year, primarily due to increased payments for raw material purchases[15][26] - Cash inflow from operating activities totaled CNY 44,192,263.89 in Q1 2021, up 36.76% from CNY 32,291,927.64 in Q1 2020[37] - The company reported a total operating cash inflow of CNY 44,192,263.89, while total operating cash outflow was CNY 41,763,748.33, resulting in a net operating cash flow of CNY 2,428,515.56[37] - The company’s cash flow from financing activities showed a net outflow of CNY -2,902,068.44 in Q1 2021, compared to a net inflow of CNY 2,762,636.69 in Q1 2020[36] Receivables and Inventory - Accounts receivable increased by 45.19% to CNY 91,728,463.23 compared to the end of the previous year[11] - Other receivables surged by 200.25% to CNY 3,006,637.27 year-on-year[11] - Inventory as of March 31, 2021, was CNY 19,433,924.74, up 4.2% from CNY 18,641,905.47 at the end of 2020[24] - Accounts receivable increased to ¥91.73 million from ¥63.18 million, indicating a growing customer base[20] Operating Costs and Expenses - Operating costs rose to ¥90.20 million, marking a 97.06% increase from ¥45.77 million year-on-year, primarily due to rising raw material prices[13][14] - Sales expenses decreased by 43.32% to ¥3.55 million from ¥6.26 million, attributed to the reclassification of transportation costs into operating costs[13][14] - Research and development expenses decreased to CNY 1,803,386.94 in Q1 2021 from CNY 2,379,635.60 in Q1 2020, a reduction of 24.2%[32] Financial Income and Investments - Investment income plummeted by 96.52% to ¥39,690 from ¥1.14 million, mainly due to reduced returns from structured deposits[13][14] - The company reported a financial income of CNY 3,399,786.70 in Q1 2021, compared to CNY 928,946.34 in Q1 2020, indicating a significant increase[27] - The company experienced a net cash outflow from investing activities of CNY 64,036,044.40 in Q1 2021, compared to a net outflow of CNY 30,469,226.41 in Q1 2020, indicating a significant increase in investment expenditures[37] Government Subsidies - The company received government subsidies amounting to CNY 275,207.93, which are closely related to its normal business operations[9]

Financial Performance - Net profit attributable to shareholders rose by 62.37% to CNY 90,331,143.99 year-to-date[7] - Operating revenue for the first nine months increased by 8.20% to CNY 275,154,899.59[7] - Basic earnings per share increased by 60.00% to CNY 0.64[7] - The company reported a significant increase in other income, which rose to CNY 9,752,263.05 from CNY 2,537.26, marking a growth of 384,261.99%[15] - Total profit for the first three quarters of 2020 was ¥107,325,991.57, compared to ¥65,636,781.78 in the same period of 2019, marking a 63.6% increase[30] - Net profit for Q3 2020 was ¥49,157,012.61, compared to ¥21,282,897.74 in Q3 2019, representing a 131.5% increase[30] - The company reported a total comprehensive income of ¥49,152,766.62 for Q3 2020, significantly higher than ¥21,282,897.74 in Q3 2019[31] Assets and Liabilities - Total assets increased by 11.45% to CNY 979,553,247.73 compared to the end of the previous year[7] - The company’s total assets increased to CNY 760,413,586.77 from CNY 675,210,133.92, indicating growth in overall financial position[22] - Total liabilities increased to ¥110,162,051.57, up from ¥83,236,679.51, marking a growth of around 32.3%[24] - Current liabilities rose to ¥103,460,650.36 from ¥75,950,255.26, reflecting an increase of approximately 36.3%[23] - The total liabilities as of Q3 2020 were CNY 83,236,679.51, consistent with the previous year, reflecting a stable financial position[43] - The company's total equity as of Q3 2020 was CNY 795,707,610.09, remaining stable compared to the previous year[44] Cash Flow - Net cash flow from operating activities decreased by 3.57% to CNY 61,717,078.32[7] - Cash flow from operating activities for the first nine months of 2020 was ¥61,717,078.32, slightly down from ¥63,999,151.24 in the previous year[36] - The company reported a net cash inflow from investment activities of CNY 159,413,120.79, a significant increase of 1,010.87% compared to a net outflow of CNY 17,501,188.38 in the previous year[15] - The cash and cash equivalents at the end of Q3 2020 amounted to CNY 309,577,997.73, significantly up from CNY 76,512,124.19 at the end of Q3 2019, marking an increase of 304.5%[40] - Total cash inflow from investment activities in the first three quarters of 2020 was CNY 314,186,502.87, while cash outflow was CNY 180,505,060.00, resulting in a net cash flow of CNY 133,681,442.87, compared to a negative cash flow of CNY 1,959,698.52 in 2019[40] Shareholder Information - The total number of shareholders reached 8,728[10] - The largest shareholder, Foshan Shunde Demai Chemical Group Co., Ltd., holds 53.13% of shares[11] Expenses and Financial Management - Financial expenses decreased by 155.57% to CNY -3,895,863.72 from CNY -1,524,384.51, primarily due to increased interest income from bank deposits[15] - The company’s income tax expense increased by 69.90% to CNY 16,996,413.55 from CNY 10,003,559.70, reflecting higher profit levels[15] - Research and development expenses for Q3 2020 were ¥4,995,908.53, slightly down from ¥5,624,625.70 in Q3 2019[29] Accounting Standards - The company adopted new revenue recognition standards effective January 1, 2020, impacting the classification of prepayments to contract liabilities[49] - The financial statements are prepared in accordance with the new accounting standards, ensuring compliance and transparency[49]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥166,259,720.12, a decrease of 2.47% compared to ¥170,477,161.85 in the same period last year[19] - Net profit attributable to shareholders increased by 19.86% to ¥41,172,565.41 from ¥34,350,324.34 year-on-year[19] - The net profit after deducting non-recurring gains and losses rose by 34.32% to ¥35,561,051.35, compared to ¥26,474,433.94 in the previous year[19] - The net cash flow from operating activities increased by 40.03% to ¥42,429,903.93, up from ¥30,299,935.46 in the same period last year[19] - Basic earnings per share increased by 20.83% to ¥0.29 from ¥0.24 year-on-year[21] - The weighted average return on net assets improved by 0.49 percentage points to 5.07% from 4.58% in the previous year[21] - The increase in net profit was primarily due to a higher sales proportion of new products and a decrease in the procurement price of silicone raw materials[22] - The company reported a non-recurring profit of RMB 5,611,514.06, primarily from government subsidies and other non-operating income[24] - The company achieved a 12.17% decrease in operating costs and a 19.86% increase in net profit year-on-year[51] Assets and Liabilities - The company's total assets increased by 4.88% to ¥921,828,448.66 from ¥878,944,289.60 at the end of the previous year[20] - The net assets attributable to shareholders rose by 2.79% to ¥817,944,744.47 from ¥795,707,610.09 at the end of the previous year[20] - The company's total current assets amounted to RMB 708,636,680.48, an increase from RMB 675,210,133.92 at the end of 2019, reflecting a growth of approximately 4.5%[142] - The cash and cash equivalents increased to RMB 382,975,362.21 from RMB 244,396,272.88, representing a significant increase of about 56.7%[142] - Current liabilities rose to ¥96.99 million, compared to ¥75.95 million, indicating an increase of about 27.7%[146] - The total liabilities increased to ¥103.88 million from ¥83.24 million, representing a growth of approximately 24.8%[144] Research and Development - The company specializes in the research, production, and sales of polyurethane foam stabilizers, which are essential additives in the production of polyurethane foam plastics[27] - The company has established a comprehensive R&D, procurement, production, quality control, sales, and customer service system to meet customer needs[28] - The company is recognized as a national high-tech enterprise and has several innovation platforms to drive product customization and technological advancement[29] - The company has undertaken 8 national and provincial research projects, with 2 high-tech products and 3 key promoted new products, enhancing its technological leadership in the polyurethane industry[40] - The company is focusing on developing new environmentally friendly foam stabilizers in response to stricter regulations on ozone-depleting substances[35] Market Strategy and Operations - The production model is market-oriented, with production tasks organized based on sales plans and inventory levels[31] - The sales strategy combines direct sales and distribution, with a focus on establishing long-term relationships with international clients and distributors[32] - The company has established strategic partnerships with renowned global companies, increasing market share among core customers, which contributes to stable economic benefits and a strong market reputation[41] - The company has diversified its product offerings, developing a full range of polyurethane foam stabilizers suitable for various applications, ensuring high quality and safety in production[42] Environmental and Safety Compliance - The company emphasizes strict adherence to safety and environmental regulations to mitigate risks associated with hazardous chemicals used in production[74] - The company has not experienced any major safety, environmental, or quality incidents during the reporting period[53] - The company's wastewater treatment facilities are operating normally, with treated wastewater meeting the Jiangsu Province discharge standards[110] - The production exhaust is treated through a three-stage condensation and water absorption system, complying with the chemical industry volatile organic compounds emission standards[111] Shareholder and Corporate Governance - The actual controller Huang Guanyong committed to not transferring or entrusting the management of shares for 36 months post-listing[83] - The controlling shareholder, Demei Group, promised not to reduce its shareholding for three years after the stock listing, with a maximum annual reduction of 5% thereafter[85] - The company guarantees that no related party transactions will occur that could affect its independence[84] - The company will not accept more favorable conditions than third parties in any related party transactions[85] Financial Management and Investments - The company has implemented measures to mitigate raw material price fluctuation risks, which significantly affect its operating performance[71] - The company has established a financial derivatives management system to address foreign exchange risks arising from currency fluctuations[73] - The company signed an investment agreement for a 45,000 tons/year organic amine product project, expanding its product line and strategic layout[49] - The total investment for the "Meiside 45,000 tons/year organic amine series product project" is approximately RMB 556 million[107] Compliance and Reporting - The company has retained Lixin Certified Public Accountants as its auditing firm for the fiscal year 2020, following approval at the 2019 annual shareholders' meeting[98] - There were no significant litigation or arbitration matters during the reporting period[98] - The company has not disclosed any significant related party transactions during the reporting period[104] - The company has not disclosed any strategic investments or mergers and acquisitions during this reporting period[136]

Financial Performance - Operating income decreased by 2.59% to CNY 81,502,808.80 year-on-year[6] - Net profit attributable to shareholders increased by 29.14% to CNY 20,883,492.32 compared to the same period last year[6] - Basic earnings per share increased by 31.25% to CNY 0.21[6] - Total operating revenue for Q1 2020 was ¥81,502,808.80, a decrease of 2.77% from ¥83,668,907.59 in Q1 2019[29] - Net profit for Q1 2020 was ¥20,883,492.32, an increase of 28.06% compared to ¥16,171,485.33 in Q1 2019[31] - The company's operating revenue for Q1 2020 was ¥55,267,395.93, representing a 36.3% increase from ¥40,597,921.44 in Q1 2019[34] - The net profit for Q1 2020 reached ¥20,072,186.32, up 78.5% compared to ¥11,237,576.80 in Q1 2019[34] - The total comprehensive income for Q1 2020 was ¥20,072,186.32, compared to ¥11,237,576.80 in Q1 2019, indicating a significant growth[35] Assets and Liabilities - Total assets increased by 3.43% to CNY 909,103,574.85 compared to the end of the previous year[6] - Total assets as of March 31, 2020, amounted to 909,103,574.85 RMB, an increase from 878,944,289.60 RMB at the end of 2019[22] - Current assets totaled 707,666,736.32 RMB, up from 675,210,133.92 RMB at the end of 2019[21] - Total liabilities as of March 31, 2020, were 92,409,139.94 RMB, compared to 83,236,679.51 RMB at the end of 2019[23] - The company's total liabilities as of the end of Q1 2020 amounted to ¥83,236,679.51, with current liabilities totaling ¥75,950,255.26[44] - Total liabilities rose to ¥53,428,379.32, up from ¥40,143,016.27 in the previous year[27] - The total assets of the company were reported at ¥878,944,289.60, with current assets accounting for ¥675,210,133.92[43] Cash Flow - Cash flow from operating activities increased by 38.46% to CNY 13,515,354.54 year-on-year[6] - Net cash flow from operating activities increased by 38.46% to 13,515,354.54 RMB compared to the same period last year[19] - The net cash flow from operating activities was ¥13,515,354.54, an increase of 38.0% from ¥9,761,203.61 in Q1 2019[38] - The cash outflow from operating activities totaled ¥44,544,461.22 in Q1 2020, a decrease from ¥61,228,523.62 in Q1 2019[38] - Investment activities resulted in a net cash outflow of ¥79,074,564.36 in Q1 2020, compared to a net inflow of ¥11,043,648.46 in Q1 2019[38] - The company reported total cash inflow from investment activities of ¥101,230,773.59, while cash outflow was ¥131,700,000.00, resulting in a net cash flow from investment activities of -¥30,469,226.41[39] Shareholder Information - The number of shareholders reached 8,946 at the end of the reporting period[10] - The company's retained earnings increased to 354,856,224.09 RMB from 333,972,731.77 RMB, reflecting improved profitability[23] - The company’s total equity increased to ¥752,157,672.66 from ¥731,558,453.84 in Q1 2019, indicating a growth of 2.73%[27] - Shareholders' equity stood at 731,558,453.84, with retained earnings of 269,920,709.73[49] Tax and Financial Expenses - The company reported a significant increase in income tax payable by 72.06% to CNY 3,763,954.85[12] - Financial expenses decreased by 242.42% to -1,356,665.11 RMB compared to the same period last year[15] - The company incurred financial expenses of -¥1,364,719.66 in Q1 2020, contrasting with financial expenses of ¥1,024,416.98 in Q1 2019[34] - The company’s tax expenses for Q1 2020 were ¥3,406,981.43, an increase of 74.2% from ¥1,956,275.98 in Q1 2019[34] Research and Development - Research and development expenses for Q1 2020 were ¥4,887,095.32, compared to ¥4,216,582.93 in Q1 2019, reflecting a 15.87% increase[29] - Research and development expenses increased to ¥2,379,635.60 in Q1 2020, a rise of 25.2% from ¥1,900,029.18 in Q1 2019[34] Changes in Accounting Standards - The company executed new revenue and leasing standards starting January 1, 2020, impacting the financial statements[45] - The company adopted new revenue recognition standards effective January 1, 2020, adjusting "prepayments" to "contract liabilities"[50] - The company has not yet implemented the new leasing standards, which will take effect from January 1, 2021[50] - The company reported a decrease in prepayments by 390,032.60, reflecting the adjustment to contract liabilities[48]

Financial Performance - The company's operating revenue for 2019 was RMB 338,597,203.51, representing a year-on-year increase of 10.96% compared to RMB 305,165,538.28 in 2018[21] - The net profit attributable to shareholders of the listed company reached RMB 72,040,655.40, a significant increase of 76.47% from RMB 40,823,561.44 in the previous year[21] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 57,947,863.94, up 127.39% from RMB 25,484,396.15 in 2018[21] - The net cash flow from operating activities was RMB 74,787,710.10, an increase of 158.92% compared to RMB 28,884,975.41 in the previous year[21] - The basic earnings per share increased by 75.61% to CNY 0.72 compared to CNY 0.41 in the previous year[23] - The diluted earnings per share also increased by 75.61% to CNY 0.72, consistent with the basic earnings per share[23] - The weighted average return on equity rose by 3.77 percentage points to 9.44% from 5.67% in the previous year[23] - The gross profit margin increased by 13.30 percentage points compared to the previous year, indicating improved profitability[59] Assets and Liabilities - As of the end of 2019, the total assets amounted to RMB 878,944,289.60, reflecting a growth of 5.86% from RMB 830,267,096.76 at the end of 2018[21] - The net assets attributable to shareholders of the listed company were RMB 795,707,610.09, which is an increase of 8.32% from RMB 734,567,372.13 in 2018[21] - The company's cash and cash equivalents increased to ¥244,396,272.88, representing 27.81% of total assets, up 150.72% from the previous period[73] - The company's accounts payable decreased by 48.95% to ¥19,957,500.00, primarily due to reduced payments for bank acceptance bills[73] - Total assets increased from ¥830,267,096.76 to ¥878,944,289.60, while total liabilities decreased from ¥95,699,724.63 to ¥83,236,679.51, resulting in a debt-to-asset ratio decline from 11.53% to 9.47%[197] Research and Development - The company maintains a comprehensive R&D, production, quality control, sales, and customer service system to support its polyurethane foam stabilizer business[33] - The company is recognized as a national high-tech enterprise and has established several innovation platforms to enhance its R&D capabilities[35] - The company has invested in R&D, with over one-third of its workforce in technical roles, and has undertaken 8 national and provincial research projects[46] - The company registered 12 new invention patents during the reporting period, bringing the total number of authorized invention patents to 15[55] - The company developed 12 new high-emulsifying, high-surface performance, and high-flow hard foam stabilizers, and 2 new low-emission, comfortable soft foam stabilizers during the reporting period[87] Market and Sales - The company has a diverse sales model, combining direct sales and distribution, with a focus on large-scale direct sales for hard foam agents and a distributor model for soft foam agents[38][39] - The marketing network is extensive, with partnerships with major global companies, enhancing market share and stability in sales channels[47] - The product portfolio is diversified, covering various application fields, and includes a full range of polyurethane foam stabilizers for different market segments[48] - The overseas revenue reached CNY 127,223,431.29, with a year-on-year increase of 8.20%[62] - The sales volume of hard foam agents increased by 11.97%, while the sales volume of soft foam agents decreased by 22.60%[63] Risk Management - The company has identified risks related to raw material price fluctuations, exchange rate fluctuations, and domestic and international operating environment risks[7] - The company emphasizes that forward-looking statements in the report do not constitute a substantive commitment to investors, urging caution regarding investment risks[6] - The company is addressing risks related to raw material price fluctuations, which significantly impact its operating performance[122] - The company is implementing measures to mitigate foreign exchange risks due to fluctuations in the RMB exchange rate[123] Dividend Policy - The company plans to distribute a cash dividend of RMB 2.20 per 10 shares, totaling RMB 22,141,372.00, and to increase capital by 4 shares for every 10 shares held, resulting in a total increase of 40,257,040 shares[5] - In 2019, the company distributed a cash dividend of RMB 1.30 per 10 shares, totaling RMB 13,123,240.00, which represented 32.15% of the net profit attributable to shareholders[135] - The company has established a cash dividend policy that aims to provide stable returns to shareholders, considering factors such as profitability and cash flow[128] Corporate Governance - The company has a structured decision-making process for adjusting its profit distribution policy, ensuring compliance with regulatory requirements and transparency for minority shareholders[132] - The company has received commitments from major shareholders to avoid any business competition with its controlled enterprises[139] - The company will ensure that any related transactions are conducted under fair and reasonable conditions[140] - The company committed to strictly fulfill all public commitments made during its initial public offering and actively accept social supervision[150] Financial Management - The company has invested a total of RMB 36,300,000 in bank wealth management products, with an outstanding balance of RMB 25,000,000[170] - The company approved the use of up to RMB 500 million of idle funds for cash management, focusing on high-security and high-liquidity short-term financial products[171] - All wealth management products have been recovered as scheduled, indicating effective cash management practices[172] - The company has no overdue amounts in its wealth management investments, reflecting strong financial discipline[170] Compliance and Legal Matters - The company has no major litigation or arbitration matters during the reporting period[161] - The company adheres to legal compliance and has established a sound internal control system to protect the rights of shareholders and stakeholders[182] - The company emphasizes timely and accurate information disclosure to maintain good relationships with investors[183]

Financial Performance - Operating income for the first nine months rose by 10.19% to CNY 254,294,015.94 compared to the same period last year[6] - Net profit attributable to shareholders increased by 77.30% to CNY 55,633,222.08 for the first nine months[6] - Basic earnings per share increased by 80.65% to CNY 0.56[6] - The weighted average return on equity improved by 2.95 percentage points to 7.35%[6] - Total operating revenue for Q3 2019 reached ¥83,816,854.09, an increase of 15.8% compared to ¥72,398,382.03 in Q3 2018[31] - Net profit for Q3 2019 was ¥21,282,897.74, up 119.4% from ¥9,702,416.52 in Q3 2018[32] - Total profit for Q3 2019 was ¥25,547,727.36, significantly higher than ¥10,586,947.73 in Q3 2018, marking an increase of 141.5%[32] - Total comprehensive income for Q3 2019 was ¥21,282,897.74, compared to ¥9,702,416.52 in Q3 2018, reflecting a growth of 119.4%[33] - Total comprehensive income for the first three quarters of 2019 was ¥37,685,557.95, up 107.5% from ¥18,138,840.36 in the same period of 2018[37] Cash Flow - Cash flow from operating activities surged by 749.04% to CNY 63,999,151.24 compared to the same period last year[6] - Operating cash flow surged by 749.04% to CNY 63,999,151.24 from CNY 7,537,848.42 in the same period last year[17] - Cash inflow from operating activities for the first three quarters of 2019 was ¥227,077,227.60, compared to ¥206,872,760.54 in the same period of 2018, reflecting a 9.9% increase[39] - The net cash flow from operating activities for Q3 2019 was CNY 63,999,151.24, a significant increase from CNY 7,537,848.42 in Q3 2018, representing an increase of approximately 748%[40] - The cash inflow from operating activities for the first nine months of 2019 was CNY 141,757,331.10, down from CNY 170,194,650.32 in the same period of 2018, a decline of about 17%[42] Assets and Liabilities - Total assets increased by 3.05% to CNY 855,606,567.59 compared to the end of the previous year[6] - Current liabilities decreased to CNY 69,542,150.29 from CNY 87,905,102.97, a reduction of about 20.8%[25] - Non-current liabilities totaled CNY 7,481,431.93, down from CNY 7,794,621.66, indicating a decrease of approximately 4.0%[25] - Total liabilities decreased to CNY 77,023,582.22 from CNY 95,699,724.63, a reduction of about 19.5%[25] - Owner's equity rose to CNY 778,582,985.37, compared to CNY 734,567,372.13, reflecting an increase of about 6.0%[25] - Total liabilities reached RMB 95,699,724.63, with current liabilities at RMB 87,905,102.97 and non-current liabilities at RMB 7,794,621.66[47] - The company’s total liabilities to total assets ratio stands at approximately 11.5%, indicating a relatively low leverage position[47] Shareholder Information - The total number of shareholders reached 8,747[9] - The largest shareholder, Foshan Shunde Demai Chemical Group Co., Ltd., holds 53.13% of the shares[9] Expenses and Income - Sales expenses rose by 62.29% to CNY 16,135,464.46 compared to CNY 9,942,174.67 in the previous year[15] - Investment income dropped by 68.16% to CNY 3,754,479.71 from CNY 11,792,207.27 year-on-year[15] - The company reported a significant increase in tax expenses, up 123.85% to CNY 10,003,559.70 from CNY 4,468,906.68[15] - The company recorded a 104.59% increase in taxes and surcharges, primarily due to increased value-added tax payable[15] - Research and development expenses for the first three quarters of 2019 totaled ¥15,339,501.27, slightly down from ¥15,546,309.77 in the same period of 2018[31] Financial Standards and Adjustments - The company executed new financial instrument standards, leading to significant adjustments in various financial metrics[11] - The company adopted new financial instrument standards starting January 1, 2019, affecting the classification and measurement of financial assets[52] - The company adjusted the classification of financial assets under the new financial instrument standards, impacting the reporting of certain assets[49]