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]

Financial Performance - The company's operating revenue for the first half of 2019 was ¥170,477,161.85, representing a 7.64% increase compared to ¥158,376,953.89 in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2019 was ¥34,350,324.34, a significant increase of 58.47% from ¥21,675,656.86 in the previous year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥26,474,433.94, up 78.08% from ¥14,866,423.09 year-on-year[18]. - The net cash flow from operating activities increased by ¥30,299,935.46, compared to a negative cash flow of -¥10,431,323.64 in the same period last year[18]. - Basic earnings per share for the first half of 2019 were ¥0.34, up 54.55% from ¥0.22 in the same period last year[19]. - The weighted average return on net assets increased by 1.57 percentage points to 4.58% compared to 3.01% in the previous year[19]. - Operating costs decreased by 7.48%, amounting to ¥107,381,172.74, down from ¥116,061,323.40 in the previous year[49]. - Net profit increased significantly by 58.47%, reflecting the company's effective cost control measures[46]. - The total comprehensive income for the first half of 2019 was ¥23,161,793.32, compared to ¥11,945,059.58 in the same period of 2018, representing an increase of approximately 93.5%[126]. Cash Flow and Assets - Cash and cash equivalents at the end of the period amounted to ¥183,471,399.60, representing 21.78% of total assets, an increase of 88.22% compared to the previous period[53]. - The company reported a net cash flow from operating activities of ¥30,299,935.46, a significant improvement from a negative cash flow of -¥10,431,323.64 in the previous year[49]. - Cash inflow from operating activities totaled ¥144,724,580.36, up from ¥136,304,931.61 in the previous year, indicating a growth of about 6.5%[128]. - Cash outflow from operating activities decreased to ¥114,424,644.90 from ¥146,736,255.25, showing a reduction of approximately 22%[129]. - The company reported cash and cash equivalents at the end of the period amounting to ¥171,490,121.69, an increase from ¥162,286,896.49 at the end of the first half of 2018[129]. 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[25]. - The company has established a research institute to enhance technological innovation, focusing on market demand and technological trends[44]. - The company has developed multiple new products, including low VOC soft foam stabilizers that comply with EU standards, which have begun mass sales[44]. - As a national high-tech enterprise, the company focuses on innovation in polyurethane foam stabilizers and collaborates with external institutions to enhance product customization and green production processes[27]. Market Position and Strategy - The company is recognized as a leading manufacturer in the domestic polyurethane foam stabilizer market, having broken the monopoly of multinational companies in the hard foam stabilizer sector[33]. - The new generation of soft foam stabilizers developed by the company is expected to provide new growth points for market sales and enhance brand influence[33]. - The company emphasizes a market-oriented production model, adjusting production tasks based on sales plans and inventory levels[29]. - The company has a robust supplier evaluation system, ensuring stable and competitive sourcing of raw materials[28]. Shareholder Commitments and Governance - The controlling shareholder and actual controller committed to not transferring or managing their shares for 36 months from the listing date, ensuring stability in shareholding[70]. - The company has outlined specific commitments related to equity incentives, ensuring alignment with shareholder interests[71]. - The commitments made by shareholders regarding shareholding reduction and stabilization measures are legally binding, with liabilities for any violations[73]. - The company will publicly explain the specific reasons for any failure to fulfill commitments and apologize to shareholders and the public[85]. Environmental and Safety Compliance - The company has a strong focus on safety and environmental protection, receiving recognition as a "2018 Advanced Enterprise in Safety Production" in Nanjing[47]. - The company strictly adheres to various environmental protection laws and has obtained ISO 14001 environmental management system certification[94]. - The company and its subsidiaries have been rated as "blue enterprises" in Jiangsu Province's environmental credit evaluation system, with no major violations reported during the reporting period[95]. Financial Management and Accounting Policies - The company follows the Chinese Accounting Standards, ensuring that financial reports reflect a true and complete picture of its financial status[146]. - The financial statements are prepared based on the assumption of going concern, with no significant doubts regarding the company's ability to continue operations[144]. - The company has not reported any significant changes in accounting policies or prior period error corrections during this reporting period[138]. - The company recognizes impairment losses for financial assets measured at amortized cost and debt instruments measured at fair value, including receivables and debt investments[172].

Financial Performance - In 2018, the company's operating revenue was CNY 305,165,538.28, representing a 1.30% increase compared to CNY 301,253,031.70 in 2017[20]. - The net profit attributable to shareholders decreased by 19.28% to CNY 40,823,561.44 in 2018 from CNY 50,574,345.72 in 2017[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 39.69% to CNY 25,484,396.15 in 2018 from CNY 42,258,118.32 in 2017[20]. - The net cash flow from operating activities decreased by 52.69% to CNY 28,884,975.41 in 2018 from CNY 61,055,308.19 in 2017[20]. - The basic earnings per share dropped by 24.07% to CNY 0.41 in 2018 from CNY 0.54 in 2017[21]. - The weighted average return on equity decreased to 5.67% in 2018, down from 8.18% in 2017, a reduction of 2.51 percentage points[21]. - The gross profit margin fell by 7.50 percentage points to 26.69% compared to the previous year[51]. - The company's net profit attributable to shareholders decreased by 19.28% to CNY 40,823,561.44, primarily due to a 22.45% increase in raw material costs[49][51]. Dividend Policy - The company plans to distribute a cash dividend of RMB 1.30 per 10 shares, totaling RMB 13,123,240.00 for the year 2018[6]. - For the fiscal year 2018, the proposed cash dividend is RMB 1.3 per 10 shares, amounting to RMB 13,123,240, with no capital reserve conversion or bonus shares planned[119]. - The cash dividend payout ratio for 2018 was 32.15%, compared to 31.64% in 2017 and 30.77% in 2016, indicating a consistent return to shareholders[124]. - The profit distribution policy is compliant with regulations and includes clear standards and procedures for adjustments, ensuring transparency and protection for minority shareholders[121]. Share Capital and Ownership - The total share capital as of December 31, 2018, is 100,948,000 shares[6]. - The company granted a total of 948,000 restricted shares to incentive objects in 2018, increasing the total share capital from 100,000,000 shares to 100,948,000 shares[21]. - The largest shareholder, Foshan Shunde Demai Chemical Group Co., Ltd., holds 53,475,000 shares, representing 52.97% of the total shares[194]. - The top ten shareholders include several natural persons, with Sun Yu holding 5,632,500 shares (5.58%) and Li Xiaoming holding 2,250,000 shares (2.23%)[194]. Risk Management - The company has identified risks related to raw material price fluctuations, exchange rate fluctuations, safety, environmental protection, and macroeconomic conditions[8]. - The decrease in net profit after deducting non-recurring gains and losses in 2018 was primarily due to the rise in silicone raw material prices, which increased cash payments for purchases[22]. - The company is facing risks from raw material price fluctuations, which significantly impact profit margins due to the high cost of key materials[109]. - The company has implemented measures to mitigate foreign exchange risks, including the establishment of a financial derivatives management system[110]. 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[30]. - The company has established a comprehensive and effective system for R&D, procurement, production, quality control, sales, and customer service, focusing on customer needs and its own capabilities[31]. - The company has a research and development team where over one-third of employees are dedicated to innovation, focusing on core technology systems that include basic research and application technology development[37]. - The company invested significantly in R&D, with expenses rising by 16.62% to CNY 21,780,868.88[51][53]. Market Position and Strategy - The company is recognized as a leading manufacturer in the domestic polyurethane foam stabilizer industry, having broken the monopoly of multinational corporations in the hard foam stabilizer market[35]. - The company has formed stable partnerships with major clients such as Dow Chemical, BASF, and Covestro, ensuring long-term business development[40]. - The company is focusing on the development of new environmentally friendly foam stabilizers, aligning with industry trends towards sustainability and innovation[34]. - The company aims to enhance its technological innovation capabilities by developing a new generation of polyurethane foam stabilizers, targeting high-tech products with independent intellectual property rights[103]. Compliance and Governance - The company has maintained a good integrity status, with no significant debts or regulatory actions reported[151]. - The company strictly adheres to legal compliance and has established a sound internal control system to protect the rights of shareholders and stakeholders[169]. - The company has been rated as a "blue enterprise" in the environmental credit evaluation system in Jiangsu Province, indicating compliance with environmental regulations[175]. - The company will not distribute profits to individuals who have not fulfilled public commitments[144]. Financial Management - The company has entrusted cash asset management with a total of RMB 343 million in bank wealth management products and RMB 250 million in broker wealth management products[160]. - The company approved the use of up to RMB 500 million of its own idle funds for cash management, focusing on short-term financial products with high safety and liquidity[162]. - The annualized return rates for various entrusted wealth management products ranged from 3.70% to 5.10%[163]. - The company has successfully recovered all expected returns from its entrusted wealth management products[163].

2019 年第一季度报告 公司代码：603041 公司简称：美思德 江苏美思德化学股份有限公司 2019 年第一季度报告 1 / 26 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 8 | 2019 年第一季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 未出席董事情况 | 未出席董事姓名 | 未出席董事职务 | 未出席原因的说明 | 被委托人姓名 | | --- | --- | --- | --- | | 蒋剑春 | 独立董事 | 工作 | 邓德强 | 1.3 公司负责人孙宇、主管会计工作负责人孙宇及会计机构负责人（会计主管人员）徐开进保证 季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 √适用 □不适用 单位：元 币种：人民币 | 项目 | 本期金额 | 说明 | | --- | --- | ...

2018 年第三季度报告 公司代码：603041 公司简称：美思德 江苏美思德化学股份有限公司 2018 年第三季度报告 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度 末增减(%) 总资产 817,011,741.54 801,494,816.97 1.94 归属于上市公司股东 的净资产 724,950,136.62 708,320,663.24 2.35 年初至报告期末 （1-9 月） 上年初至上年报告期末 （1-9 月） 比上年同期增减(%) 经营活动产生的现金 流量净额 7,537,848.42 27,068,826.32 -72.15 年初至报告期末 （1-9 月） 上年初至上年报告期末 （1-9 月） 比上年同期增减 （%） 营业收入 230,775,335.92 237,150,216.04 -2.69 归属于上市公司股东 的净利润 31,378,073.38 42,158,256.61 -25.57 归属于上市公司股东 的扣除非经常性损益 19,797,217.72 36,389,490.24 -45.60 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容 ...

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 158,376,953.89, a slight increase of 0.56% compared to CNY 157,487,984.46 in the same period last year[19]. - The net profit attributable to shareholders of the listed company decreased by 27.39% to CNY 21,675,656.86 from CNY 29,852,078.42 year-on-year[19]. - The net cash flow from operating activities was negative at CNY -10,431,323.64, a decline of 153.79% compared to CNY 19,393,183.67 in the previous year[19]. - The total assets at the end of the reporting period were CNY 790,461,797.36, down 1.38% from CNY 801,494,816.97 at the end of the previous year[19]. - The basic earnings per share decreased by 36.46% to CNY 0.2168 from CNY 0.3412 in the same period last year[20]. - The weighted average return on net assets was 3.01%, a decrease of 2.48 percentage points compared to 5.49% in the previous year[20]. - The net profit after deducting non-recurring gains and losses was CNY 14,866,423.09, down 45.64% from CNY 27,350,046.32 in the previous year[19]. - Operating costs rose by 16.41% to ¥116,061,323.40, primarily due to a significant increase in raw material prices, which surged by 71.80%[43][47]. - The company reported a net profit margin of approximately 28.3% for the first half of 2018, down from 40.5% in the previous year[124]. Assets and Liabilities - The total liabilities amounted to CNY 75,968,877.26, down from CNY 93,174,153.73 in the previous period[120]. - Owner's equity reached CNY 714,492,920.10, an increase from CNY 708,320,663.24[120]. - Accounts receivable increased by 52.33% to 64,501,858.31, accounting for 8.16% of total assets[50]. - Short-term borrowings decreased by 77.06% to 1,701,371.00, representing only 0.22% of total assets[50]. - Other payables surged by 239.34% to 14,395,934.21, now making up 1.82% of total assets[50]. - The company reported a total current asset of CNY 605,629,185.37, a decrease of 3.4% from the previous period's CNY 630,516,296.35[114]. - Total non-current assets amounted to CNY 184,832,611.99, an increase from CNY 170,978,520.62, representing an 8.1% growth[115]. Shareholder Commitments and Governance - The controlling shareholder, Shunde De Mei Chemical Group, committed to not transferring or entrusting the management of its shares for 36 months from the listing date[62]. - The actual controller, Huang Guanyong, made a similar commitment for 36 months from the listing date[64]. - Shareholders including Nanjing Shichuang Chemical and others committed to not transferring their shares for 12 months from the listing date[64]. - Directors and senior management, including Huang Guanyong and others, committed to limit share transfers to 25% of their holdings annually after the lock-up period[64]. - The company and its major shareholders have made commitments to avoid any competition with their own businesses[64]. - The commitments regarding share transfers and management are aimed at ensuring market stability and protecting shareholder interests[63]. - The company has established specific timeframes for the fulfillment of these commitments, ensuring compliance and accountability[63]. 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[25]. - The company has established a comprehensive R&D, procurement, production, quality control, sales, and customer service system, focusing on innovation and collaboration with external institutions[26]. - Research and development expenses increased by 17.21% to ¥9,875,041.39, reflecting the company's commitment to enhancing its R&D capabilities[47][48]. - The company has developed a new generation of soft foam stabilizers, aiming to increase market share and brand influence in the future[30]. Market Position and Strategy - The company is recognized as a major producer of polyurethane foam stabilizers in China, possessing multiple core technologies and achievements in the industry[30]. - The company has a diverse product portfolio, including three series of polyurethane foam stabilizers, catering to various market segments[33]. - The company has established stable partnerships with major clients such as Dow Chemical and BASF, ensuring long-term business growth[34]. - The company has established a marketing network in the South China region, enhancing its sales channel and customer collaboration[40]. Environmental and Safety Compliance - The company is actively involved in the development of environmentally friendly foam stabilizers, aligning with national policies on environmental protection and innovation[29]. - The company has been recognized as an "environmentally friendly enterprise" and an "advanced unit in environmental protection work" during the reporting period[90]. - The company has not been classified as a key pollutant discharge unit and has complied with environmental protection laws, receiving ISO14000 certification[90]. - Safety risks are being addressed with increased safety education and investment in production equipment[56]. Financial Management and Commitments - The company commits to fulfilling all public commitments made during its initial public offering and will accept social supervision[75]. - If the company fails to fulfill public commitments due to non-force majeure reasons, it must propose new commitments and accept restrictions until the new commitments are fulfilled[76]. - The company will publicly explain the reasons for any failure to fulfill commitments and apologize to shareholders and investors[77]. - The company will ensure that any related party transactions are conducted under fair and reasonable conditions[66]. Accounting Policies and Financial Reporting - The company adheres to the enterprise accounting standards, ensuring the financial statements reflect a true and complete picture of its financial status[152]. - The company determines the scope of consolidated financial statements based on control, which includes the company and all subsidiaries[156]. - The company recognizes expected liabilities for additional losses if it has obligations to cover losses of the investee, limiting the write-down of long-term equity investments to their book value[184]. - The company applies the relevant accounting policies for transactions with joint ventures and associates, ensuring that unrealized internal transaction losses are accounted for appropriately[184].