Financial Performance - The company's operating revenue for Q1 2023 was ¥120,127,795.35, a decrease of 21.99% compared to the same period last year[5]. - Net profit attributable to shareholders was ¥24,545,082.03, representing an increase of 10.31% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥23,064,890.77, up by 9.16% compared to the previous year[5]. - The basic earnings per share for the period was ¥0.14, down by 12.50% year-on-year[5]. - The diluted earnings per share also stood at ¥0.14, reflecting a decrease of 12.50% compared to the same period last year[5]. - Total operating revenue for Q1 2023 was ¥120,127,795.35, a decrease of 22% compared to ¥153,986,482.05 in Q1 2022[17]. - Net profit for Q1 2023 reached ¥24,536,134.56, representing an increase of 10% from ¥22,247,722.97 in Q1 2022[17]. - The net profit attributable to shareholders of the parent company was ¥24,545,082.03, compared to ¥22,251,085.70 in the same period last year, marking an increase of 10%[19]. - Basic earnings per share for Q1 2023 were ¥0.14, down from ¥0.16 in Q1 2022[19]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,596,768,636.66, an increase of 1.13% from the end of the previous year[6]. - The equity attributable to shareholders increased by 1.79% to ¥1,398,265,279.48 compared to the end of the previous year[6]. - The company's total liabilities decreased to ¥196,542,334.52 in Q1 2023 from ¥203,291,908.30 in Q1 2022, a reduction of approximately 3.7%[17]. - The company's total current liabilities were reported at CNY 290,000,000.00, with specific liabilities such as accounts payable at CNY 67,330,714.21, up from CNY 58,844,497.48[14]. - Non-current assets totaled CNY 569,396,685.65, an increase from CNY 533,447,007.24, indicating a growth of about 6.7%[14]. - The company’s long-term equity investments increased to CNY 7,807,411.03 from CNY 252,188.81, showing significant growth[14]. - The company's total liabilities were reported at CNY 290,000,000.00, with a notable decrease in tax liabilities from CNY 10,706,264.62 to CNY 6,046,739.75, a reduction of approximately 43.5%[14]. Cash Flow - The net cash flow from operating activities was ¥10,724,668.22, with no applicable percentage change reported[5]. - The net cash flow from operating activities for Q1 2023 was ¥10,724,668.22, a significant improvement compared to a net outflow of ¥1,658,666.96 in Q1 2022, indicating a recovery in operational performance[24]. - Total cash inflow from operating activities reached ¥105,246,612.60, up from ¥93,612,084.52 in the previous year, reflecting a year-over-year increase of approximately 12.5%[24]. - Cash outflow from operating activities decreased to ¥94,521,944.38 from ¥95,270,751.48, showing a slight reduction in operational expenses[24]. - The net cash flow from investing activities was -¥133,090,207.05, worsening from -¥9,481,907.95 in the same quarter last year, indicating increased investment outflows[25]. - Cash inflow from investment activities surged to ¥316,354,691.46 compared to ¥51,042,842.67 in Q1 2022, marking a substantial increase of over 520%[25]. - Total cash outflow from investment activities was ¥449,444,898.51, significantly higher than ¥60,524,750.62 in the previous year, reflecting aggressive investment strategies[25]. - The net cash flow from financing activities was -¥150,000.00, unchanged from the previous year, indicating stable financing operations[25]. - The cash and cash equivalents at the end of Q1 2023 stood at ¥151,180,920.26, down from ¥223,497,021.14 at the end of Q1 2022, representing a decrease of approximately 32.3%[25]. Operational Efficiency - Total operating costs for Q1 2023 were ¥94,461,359.56, down 27% from ¥129,107,227.18 in Q1 2022[17]. - Research and development expenses for Q1 2023 were ¥5,986,975.06, compared to ¥5,270,856.79 in Q1 2022, indicating an increase of 14%[17]. - The company reported a financial income of ¥1,960,314.67 in Q1 2023, down from ¥3,337,449.48 in Q1 2022, a decrease of approximately 41%[17]. - Other comprehensive income after tax for Q1 2023 was ¥103,910.22, compared to a loss of ¥23,152.80 in Q1 2022[19]. - The company received ¥3,260,246.83 in other operating cash related to business activities, up from ¥1,682,902.81, indicating improved cash management[24]. - The company reported a significant increase in cash received from tax refunds, totaling ¥2,317,819.20, compared to ¥4,475,902.88 in the previous year, reflecting changes in tax policies or improved compliance[24].

证券代码：603041 证券简称：美思德 公告编号：2023-025 江苏美思德化学股份有限公司 关于召开 2022 年度暨 2023 年第一季度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 会议召开时间：2023 年 05 月 11 日（星期四）下午 16:00-17:00 会议召开地点：上海证券交易所上证路演中心（以下简称"上证路演中 心"，http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2023 年 05 月 04 日（星期四）至 05 月 10 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 zqsw@maysta.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。 江苏美思德化学股份有限公司（以下简称"公司"）已于 2023 年 04 月 29 日发布公司 2022 年年度报告和 2023 年第一季度报告，为便于广大投资者更全面 深入地了解公司 2022 年度和 2 ...

Financial Performance - The company's operating revenue for Q3 2022 was ¥98,875,166.30, representing a decrease of 8.74% compared to the same period last year[5] - Net profit attributable to shareholders for Q3 2022 was ¥15,426,324.15, an increase of 64.77% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥12,308,142.31, up by 40.36% compared to the same period last year[5] - Total operating revenue for the first three quarters of 2022 reached ¥374,260,743.43, an increase of 5.9% compared to ¥355,859,237.80 in the same period of 2021[20] - Net profit for the third quarter of 2022 was ¥54,112,118.45, compared to ¥46,327,721.21 in the same quarter of 2021, indicating a growth of 16.4%[21] - The company reported a total comprehensive income of ¥53,941,929.02 for the third quarter of 2022, compared to ¥46,237,442.92 in the same quarter of 2021, indicating an increase of 16.5%[22] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥55,394,458.91, reflecting a significant increase of 120.74%[5] - In the first three quarters of 2022, the company generated cash inflows from operating activities amounting to ¥325,605,793.36, an increase of 11.33% compared to ¥292,489,615.25 in the same period of 2021[23] - The net cash flow from operating activities for the first three quarters of 2022 was ¥55,394,458.91, significantly up from ¥25,095,025.00 in the previous year, marking a growth of 120.14%[23] - The company reported cash inflows from investment activities totaling ¥401,202,316.90, a substantial increase from ¥121,371,881.57 in the prior year, reflecting a growth of 230.36%[24] - Cash inflows from financing activities amounted to ¥417,509,114.00, with a net cash flow from financing activities of ¥395,899,367.38, compared to a negative cash flow of -¥37,015,246.04 in the previous year[24] Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,599,394,730.39, marking a 48.12% increase from the end of the previous year[6] - The company's total assets as of the end of the third quarter of 2022 amounted to ¥1,599,394,730.39, up from ¥1,079,821,414.49 at the end of the third quarter of 2021, representing an increase of 48.0%[18] - Total liabilities reached ¥225,248,857.39 in the third quarter of 2022, compared to ¥155,629,145.15 in the same quarter of 2021, marking a rise of 44.6%[18] - Shareholders' equity attributable to the parent company was ¥1,372,167,413.05, which is an increase of 48.79% compared to the previous year-end[6] - The company's equity attributable to shareholders was ¥1,372,167,413.05, an increase from ¥922,210,059.25 in the previous year, reflecting a growth of 48.9%[18] Expenses and Investments - Research and development expenses for the third quarter of 2022 were ¥19,012,774.44, compared to ¥16,281,076.23 in the same quarter of 2021, showing an increase of 10.6%[21] - The company has invested ¥90,942,429.28 in construction in progress, a notable increase from ¥35,262,206.54[16] Inventory and Receivables - Accounts receivable rose to ¥103,857,892.80 from ¥75,951,344.45, indicating a significant increase in receivables[16] - The company's inventory decreased to ¥63,736,032.26 from ¥68,726,422.33, reflecting a reduction in stock levels[16] - The company reported other receivables of ¥8,099,527.04, up from ¥5,482,860.37[16] Shareholder Information - The total number of shares held by Foshan Shunde Demai Chemical Group Co., Ltd. is 74,865,000, accounting for 40.88% of the total share capital[13] - The total number of shares held by Ningbo Shichuang Commodity Co., Ltd. is 7,962,030, representing 4.35% of the total share capital[13] - The company has a pledge of 3,300,000 shares by Foshan Shunde Demai Chemical Group Co., Ltd.[13] Tax and Other Financial Metrics - The company received tax refunds of ¥13,785,734.99, which is an increase from ¥12,005,787.73 in the previous year[23] - The company paid ¥12,580,665.93 in taxes during the first three quarters of 2022, a decrease from ¥16,134,123.62 in the previous year[23] - The company's cash and cash equivalents as of September 30, 2022, amounted to ¥455,333,111.90, a decrease from ¥579,194,282.04 at the end of 2021[16] - The company's cash and cash equivalents at the end of the period were ¥116,875,366.80, down from ¥155,064,315.44 at the end of the same period last year[24]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥275,385,577.13, representing an increase of 11.26% compared to ¥247,515,718.34 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was ¥38,689,544.44, up 4.64% from ¥36,972,354.78 in the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥36,666,353.31, reflecting a 1.32% increase from ¥36,187,043.29[19]. - The net cash flow from operating activities was ¥33,923,270.08, a significant increase of 59.92% compared to ¥21,212,763.00 in the same period last year[19]. - Basic earnings per share remained stable at CNY 0.26, with a diluted earnings per share also at CNY 0.26, showing no change compared to the same period last year[20]. - The weighted average return on equity increased by 0.03 percentage points to 4.11% from 4.08% in the previous year[20]. - The total operating revenue for the first half of 2022 reached ¥275,385,577.13, an increase of 11.26% compared to the same period last year, primarily driven by growth in export product revenue and soft foam business revenue[47]. - Operating costs increased by 14.51% compared to the previous year, primarily due to significant rises in raw material prices and increased logistics costs caused by the Shanghai pandemic[47]. Assets and Liabilities - The net assets attributable to shareholders at the end of the reporting period were ¥1,356,768,706.14, which is a 47.12% increase from ¥922,210,059.25 at the end of the previous year[19]. - Total assets at the end of the reporting period reached ¥1,542,577,660.07, marking a 42.85% increase from ¥1,079,821,414.49 at the end of the previous year[19]. - Total current assets increased to ¥1,202,309,199.25 from ¥744,804,578.01, representing a growth of approximately 61.5%[139]. - Total liabilities increased to ¥183,828,373.34 from ¥155,629,145.15, marking an increase of about 18.0%[141]. - Shareholders' equity rose to ¥1,358,749,286.73 from ¥924,192,269.34, representing an increase of about 47.0%[141]. Research and Development - The company emphasizes research and development, supported by various innovation platforms, to enhance its technological capabilities and product offerings[31]. - The company has a strong R&D team, with over one-third of its employees engaged in research and development, enhancing its core technology system[40]. - The company successfully developed and industrialized 7 new products during the reporting period, enhancing its market competitiveness and supporting sustained business growth[49]. - Research and development expenses for the first half of 2022 were ¥11,430,528.53, compared to ¥10,787,624.81 in the same period last year, showing an increase of 5.9%[148]. Environmental Compliance - The company is listed as a key pollutant discharge unit by the Nanjing Environmental Protection Department, with specific wastewater discharge data provided[86]. - Wastewater COD concentration was reported at 210.33 mg/L, with a total discharge of 0.583 tons, complying with local standards[86]. - The company has implemented real-time monitoring systems for wastewater and air emissions, ensuring compliance with environmental regulations[88]. - The company has committed to continuous improvement of its environmental emergency response capabilities through regular drills and assessments[90]. - The company has implemented ISO 14001 environmental management system certification, emphasizing green and clean production practices[94]. Market Strategy and Development - The company is developing a new business in organic amine catalysts, with a planned capacity of 45,000 tons per year, divided into two phases[26]. - The company has established a stable overseas business through long-term partnerships with reputable direct customers and distributors, contributing to steady growth in international sales[35]. - The company is focusing on the development and application of functional, green, and environmentally friendly polyurethane additives, in line with the "14th Five-Year Plan" for the polyurethane industry[37]. - The company is actively expanding into the LNG ship manufacturing sector, developing polyurethane applications to capitalize on high-end market opportunities[51]. Shareholder and Corporate Governance - The controlling shareholder, Demai Group, committed to not reducing its shareholding in the company for three years post-listing, with a maximum of 5% reduction per year thereafter[101]. - The actual controller, Huang Guanyong, and other shareholders holding over 5% of shares have pledged to avoid any business competition with the company[101]. - The company has established a commitment to ensure that no related party transactions will adversely affect its independence and will be conducted on fair and reasonable terms[102]. - The company’s management has committed to not transferring benefits to other entities or individuals under unfair conditions[103]. - The company will publicly explain the specific reasons for any failure to fulfill commitments and apologize to shareholders and the public[106]. Risks and Challenges - The company has identified risks related to raw material price fluctuations, exchange rate fluctuations, safety and environmental risks, and investment risks in new projects[7]. - The company faces risks from raw material price fluctuations, which could lead to increased production costs and decreased gross margins[72]. - The company is exposed to foreign exchange risks due to international sales primarily in USD and EUR, which could impact profitability[73]. - The company plans to enhance its supply chain stability and control raw material costs through strategic partnerships and bulk purchasing[72]. Financial Reporting and Compliance - The financial statements are prepared based on the assumption of going concern, indicating no significant issues affecting the company's ability to continue operations[176]. - The company follows the accounting standards for enterprises, ensuring that financial statements reflect a true and complete picture of its financial status[177]. - The company confirmed the recognition of gains and losses, other comprehensive income, and changes in net assets during the reporting period, impacting retained earnings or current profits[184]. - The company will recognize the fair value of remaining equity investments at the date of loss of control when disposing of partial equity investments, with the difference accounted for as current investment income[185].

Financial Performance - The company's operating revenue for Q1 2022 was ¥153,986,482.05, representing a year-on-year increase of 23.58%[5] - The net profit attributable to shareholders for the same period was ¥22,251,085.70, reflecting an 8.04% increase compared to the previous year[5] - The net profit after deducting non-recurring gains and losses was ¥21,130,186.25, which is a 3.87% increase year-on-year[5] - Total revenue for Q1 2022 reached ¥153,986,482.05, an increase of 23.6% compared to ¥124,609,447.68 in Q1 2021[16] - Net profit for Q1 2022 was ¥22,247,722.97, compared to ¥20,596,206.33 in Q1 2021, representing an 8.0% growth[17] - The company’s total comprehensive income for the period was 22,224,570.17 RMB, compared to 20,821,848.71 RMB in Q1 2021, reflecting an increase of approximately 6.8%[18] - Basic and diluted earnings per share for Q1 2022 were both 0.16 RMB, up from 0.15 RMB in Q1 2021, marking a growth of about 6.7%[18] Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥1,658,666.96, a decline of 121.36% compared to the previous year, primarily due to increased cash payments for raw material purchases[7] - In Q1 2022, the company reported a net cash flow from operating activities of -1,658,666.96 RMB, a decrease from 7,765,809.13 RMB in Q1 2021[20] - The company incurred total operating cash outflows of 95,270,751.48 RMB, compared to 73,018,741.32 RMB in Q1 2021, indicating an increase of about 30.5%[20] - The net cash flow from investing activities was -9,481,907.95 RMB, an improvement from -24,685,577.47 RMB in the previous year[20] - The cash and cash equivalents at the end of the period were 223,497,021.14 RMB, down from 271,344,756.96 RMB at the end of Q1 2021, a decrease of approximately 17.6%[21] - The company's cash and cash equivalents decreased slightly to ¥567,110,298.61 from ¥579,194,282.04[12] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,130,670,656.34, up 4.71% from the end of the previous year[6] - The company's total assets as of March 31, 2022, amounted to ¥1,130,670,656.34, up from ¥1,079,821,414.49 at the end of 2021[13] - Total liabilities increased to ¥184,257,179.56 in Q1 2022 from ¥155,629,145.15 in Q1 2021, marking an 18.4% rise[14] - Accounts receivable rose significantly to ¥127,550,668.27, up from ¥75,951,344.45, indicating a 67.9% increase[12] - The company's inventory decreased to ¥60,370,167.96 from ¥68,726,422.33, a decline of 12.5%[12] Shareholder Information - Shareholders' equity attributable to the parent company increased to ¥944,434,629.42, a rise of 2.41% from the previous year[6] - The equity attributable to shareholders increased to ¥944,434,629.42 from ¥922,210,059.25, reflecting a growth of 2.4%[14] - The total number of ordinary shareholders at the end of the reporting period was 8,086[9] Expenses and Subsidies - Total operating costs for Q1 2022 were ¥129,107,227.18, up from ¥100,329,861.41 in Q1 2021, reflecting a 28.7% increase[16] - Research and development expenses for Q1 2022 were ¥5,270,856.79, compared to ¥4,851,972.35 in Q1 2021, showing an 8.6% increase[17] - The company received government subsidies amounting to ¥1,249,394.14, which are closely related to its normal business operations[6] Tax and Foreign Exchange - The company reported a tax refund of 4,475,902.88 RMB, slightly up from 4,471,772.15 RMB in the previous year[20] - The company experienced a negative impact of -401,834.60 RMB from foreign exchange fluctuations on cash and cash equivalents[21] - The total cash outflow for financing activities was 150,000.00 RMB, a significant decrease from 2,902,068.44 RMB in Q1 2021[21]

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]