Financial Performance - Operating revenue for the first quarter was CNY 79,307,932.58, down 4.28% year-on-year[6]. - Net profit attributable to shareholders was CNY 10,844,899.95, a decline of 37.84% compared to the same period last year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 7,036,034.25, a decrease of 58.21% year-on-year[6]. - Basic and diluted earnings per share were both CNY 0.11, down 45.00% from CNY 0.20 in the previous year[6]. - The weighted average return on equity decreased by 1.71 percentage points to 1.52%[6]. - Total revenue for Q1 2018 was CNY 79,307,932.58, a decrease of 4.5% compared to CNY 82,857,255.07 in the previous year[23]. - Net profit for Q1 2018 was CNY 10,844,899.95, down 37.8% from CNY 17,446,513.45 in Q1 2017[24]. - Basic and diluted earnings per share for Q1 2018 were both CNY 0.11, compared to CNY 0.20 in the previous year[25]. - The total profit for Q1 2018 was 8,298,370.21 CNY, a decrease from 11,968,505.94 CNY in the same period last year, representing a decline of approximately 30.5%[29]. - The net profit for Q1 2018 was 7,148,938.82 CNY, down from 10,180,813.30 CNY year-over-year, indicating a decrease of about 29.9%[29]. Cash Flow - Cash flow from operating activities was negative at CNY -15,343,023.48, compared to CNY -1,864,109.47 in the same period last year[6]. - Cash inflow from operating activities totaled 67,308,528.03 CNY, compared to 46,635,932.85 CNY in the previous year, reflecting an increase of approximately 44.2%[32]. - Cash outflow from operating activities was 82,651,551.51 CNY, up from 48,500,042.32 CNY, resulting in a net cash flow from operating activities of -15,343,023.48 CNY, worsening from -1,864,109.47 CNY last year[32]. - The company received 1,097,236.05 CNY in cash related to other operating activities, compared to 209,915.34 CNY in the previous year, reflecting an increase of about 423.5%[32]. - Cash received from operating activities increased by 422.70% to ¥1,097,236.05, driven by interest income and government subsidies[12]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 795,273,962.37, a decrease of 0.78% compared to the end of the previous year[6]. - Total assets decreased to ¥795,273,962.37 from ¥801,494,816.97, reflecting a slight decline[17]. - Total liabilities decreased to ¥76,108,399.18 from ¥93,174,153.73, indicating improved financial health[18]. - Current assets totaled CNY 522,143,361.43, a slight decrease from CNY 526,715,994.72 at the start of the year[21]. - Accounts receivable increased by 30.07% to ¥55,077,178.66 compared to the previous year[12]. - Accounts receivable rose to CNY 25,954,823.19, up 67.5% from CNY 15,498,976.51 at the start of the year[20]. - Owner's equity increased to CNY 692,288,670.89 from CNY 685,139,732.07, reflecting a growth of 1.0%[22]. - Total liabilities decreased to CNY 38,526,116.01 from CNY 44,494,439.61 at the beginning of the year, a reduction of 13.4%[22]. Investments and Financial Activities - Investment income increased by 473.55% to ¥3,942,134.90, mainly due to higher financial returns[12]. - Cash inflow from investment activities was 80,903,698.63 CNY, significantly higher than 25,062,328.77 CNY in the previous year, marking an increase of about 223.1%[32]. - The net cash flow from investment activities was 38,677,309.62 CNY, compared to -3,433,446.73 CNY in the same period last year, showing a substantial improvement[32]. - The net cash flow from financing activities was -80,668.70 CNY, a decrease from 268,643,209.21 CNY in the previous year, indicating a significant reduction in financing activities[33]. Shareholder Information - The total number of shareholders at the end of the reporting period was 11,331[9]. - The largest shareholder, Shunde District, holds 53.48% of the shares, totaling 53,475,000 shares[10].

Financial Performance - The company's operating revenue for 2017 was CNY 301,253,031.70, representing a year-on-year increase of 6.74% compared to CNY 282,225,845.41 in 2016[22] - The net profit attributable to shareholders of the listed company decreased by 25.91% to CNY 50,574,345.72 from CNY 68,258,042.19 in the previous year[22] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 42,258,118.32, down 34.55% from CNY 64,561,341.21 in 2016[22] - Cash flow from operating activities was CNY 61,055,308.19, a decrease of 24.49% compared to CNY 80,853,063.91 in the previous year[22] - Basic earnings per share decreased by 40.66% to CNY 0.54 in 2017 from CNY 0.91 in 2016[24] - Diluted earnings per share also fell by 40.66% to CNY 0.54 in 2017 compared to CNY 0.91 in 2016[24] - The weighted average return on equity dropped by 10.16 percentage points to 8.18% in 2017 from 18.34% in 2016[24] - The gross profit margin decreased by 8.17 percentage points to 33.92% due to rising costs of raw materials and delayed price adjustments[43] - Operating costs increased to CNY 199,059,293.45, up 21.79% compared to the previous year[46] - The company reported a significant increase in financial expenses, which rose by 256.81% to CNY 2,156,644.87 due to exchange losses[54] Assets and Liabilities - Total assets increased by 65.56% to CNY 801,494,816.97 from CNY 484,107,463.49 at the end of 2016[23] - The company's net assets attributable to shareholders rose by 74.31% to CNY 708,320,663.24 from CNY 406,360,185.41 at the end of 2016[22] - The company's total assets as of December 31, 2017, were CNY 801,494,816.97, with equity attributable to shareholders amounting to CNY 708,320,663.24[43] - Total liabilities rose from RMB 77.75 million to RMB 93.17 million, resulting in a decrease in debt-to-asset ratio from 16.06% to 11.63%[155] Shareholder Information - The company plans to distribute a cash dividend of CNY 1.6 per 10 shares, totaling CNY 16,000,000.00, based on a total share capital of 100,000,000 shares[5] - In 2017, the company distributed a cash dividend of 1.60 RMB per 10 shares, totaling 16,000,000 RMB, with a payout ratio of 31.64%[100] - In 2016, the cash dividend was 2.80 RMB per 10 shares, totaling 21,000,000 RMB, with a payout ratio of 30.77%[100] - The company has maintained a consistent dividend distribution strategy over the past three years[100] - The largest shareholder, Foshan Shunde Demai Chemical Group Co., Ltd., holds 53.48% of the shares, totaling 53,475,000 shares[159] Research and Development - The company focuses on the research, production, and sales of polyurethane foam stabilizers, which are essential in the production of polyurethane foam plastics[31] - The company has established a provincial-level "Enterprise Technology Center" and an "Organic Silicon Surfactant Engineering Technology Research Center" to enhance R&D capabilities[31] - The company’s R&D investment increased by CNY 3,429,200, contributing to enhanced product innovation and quality[43] - The company developed five new products in 2017, including low GWP polyurethane foam stabilizers, enhancing its product portfolio[66] - The company plans to accelerate the development of new products, including flame-retardant soft foam agents and low-odor high-rebound foam agents[88] Market and Sales - The company achieved a total revenue of CNY 301,253,031.70, representing a growth of 6.74% compared to the previous year[43] - The company’s sales revenue from direct sales reached 240.02 million RMB, reflecting a year-on-year increase of 10.95%[77] - The sales revenue from distribution decreased by 7.00% year-on-year, amounting to 57.96 million RMB[77] - The company participated in international exhibitions in countries such as Russia, India, Mexico, Germany, and Thailand to enhance brand influence and expand sales[41] Risks and Challenges - The company faces risks related to raw material price fluctuations, exchange rate volatility, and potential loss of core technical personnel[7] - The polyurethane industry faced challenges with raw material prices remaining high, leading to a decline in profit margins for many companies, including a decrease in the company's gross profit margin[63] - The company is exposed to foreign exchange risks, with a reported exchange loss of approximately 2.16 million yuan during the reporting period[94] Corporate Governance - The company has established a sound internal control system to protect the rights and interests of shareholders and stakeholders[138] - The company has a dedicated board secretary responsible for overseeing information disclosure, ensuring all shareholders have equal access to information[139] - The company adheres to corporate governance standards, ensuring compliance with laws and regulations, and maintaining an independent operational structure[180] - The company has held two shareholder meetings during the reporting period, ensuring all shareholders can exercise their rights[183] Employee and Social Responsibility - Employee income has rapidly increased, with the company providing various vocational skills and safety training to enhance employee capabilities[140] - The company has not been penalized for environmental violations during the reporting period, complying with multiple environmental protection laws[144] - The company has a commitment to pay taxes in accordance with laws, viewing it as a fundamental social responsibility[143] - The company emphasizes safety production and environmental protection, investing a certain percentage of funds annually in these areas[142] Share Issuance and Capital Structure - The company issued 25 million shares at a price of RMB 12.92 per share, increasing total shares from 75 million to 100 million[154] - The company issued 25,000,000 new shares on March 30, 2017, increasing total share capital from 75,000,000 to 100,000,000 shares[24] - The total number of ordinary shareholders increased from 11,331 to 12,476 during the reporting period[157] Internal Controls and Audit - The audit report indicates that the financial statements fairly present the company's financial position and operating results for the year ended December 31, 2017[191] - The company did not disclose any significant deficiencies in internal controls during the reporting period[186] - The company has not reported any related party transactions that could compromise its independence or operational capabilities[186]

Financial Performance - Operating income for the first nine months rose by 6.39% to CNY 237,150,216.04 compared to the same period last year[6] - Net profit attributable to shareholders decreased by 25.50% to CNY 42,158,256.61 compared to the same period last year[6] - Basic earnings per share decreased by 39.05% to CNY 0.4599 compared to the same period last year[8] - The company reported a gross profit margin of approximately 12.5% for the first nine months of 2017, compared to 12.5% for the same period in 2016[24] - Net profit for the first nine months of 2017 was CNY 42,473,081.03, compared to CNY 36,284,044.79 for the same period in 2016, reflecting a growth of 17.06%[24] - The total revenue for the first nine months of 2017 was CNY 106,521,071.41, down 31.9% from CNY 156,409,190.27 in the same period last year[28] - The company’s operating costs for the first nine months of 2017 were CNY 63,674,377.47, representing a decrease of 22.5% compared to CNY 82,165,282.90 in the previous year[28] Assets and Liabilities - Total assets increased by 64.38% to CNY 795,778,684.11 compared to the end of the previous year[6] - Total assets as of September 30, 2017, amounted to CNY 710,786,792.56, an increase from CNY 449,567,137.06 at the beginning of the year[21] - Total liabilities as of September 30, 2017, were CNY 29,938,590.86, down 29.73% from CNY 42,586,238.29 at the beginning of the year[21] - Shareholders' equity increased to CNY 680,848,201.70 as of September 30, 2017, compared to CNY 406,980,898.77 at the beginning of the year[22] Cash Flow - Net cash flow from operating activities decreased by 48.63% to CNY 27,068,826.32 compared to the same period last year[6] - Operating cash flow decreased by 48.63% to ¥27,068,826.32 from ¥52,696,244.85, mainly due to increased operating receivables and rising raw material costs[15] - The net cash flow from operating activities for Q3 2017 was ¥27,068,826.32, down 48.7% from ¥52,696,244.85 in the same period last year[32] - The total cash inflow from operating activities for the first nine months of 2017 was ¥144,761,107.29, slightly up from ¥143,770,897.41 in the same period last year[36] - The net cash flow from operating activities for the first nine months of 2017 was ¥12,955,018.26, a decrease of 78.7% compared to ¥60,821,886.37 in the previous year[36] Shareholder Information - The company had a total of 12,725 shareholders at the end of the reporting period[10] - The largest shareholder, Foshan Shunde Demai Chemical Group Co., Ltd., holds 53.48% of the shares[10] Investment and Other Income - Investment income rose by 231.48% to ¥5,669,373.23 from ¥1,710,346.62, attributed to increased returns from financial products[15] - The company reported a total of CNY 3,266,734.27 in non-recurring gains and losses for the first nine months[9] - The company reported an increase in investment income to CNY 2,857,406.05 in Q3 2017, up from CNY 620,220.86 in Q3 2016, marking a growth of 360.5%[28] Expenses - Management expenses rose by 40.63% to ¥24,652,955.38 from ¥17,530,342.72, mainly due to increased R&D and listing expenses[15] - Tax payable increased by 216.32% to ¥5,009,479.92 from ¥1,583,684.61, primarily due to VAT refunds received from overseas sales[13] - The company’s tax expenses for the first nine months of 2017 amounted to CNY 7,101,609.38, down 33.0% from CNY 10,710,103.39 in the same period last year[25] - Financial expenses were not applicable this period due to increased exchange losses from RMB appreciation[15] Quarterly Performance - Total operating revenue for Q3 2017 was CNY 79,662,231.58, a decrease of 2.02% compared to CNY 81,314,366.41 in Q3 2016[24] - Total operating costs for Q3 2017 increased to CNY 69,122,647.70, up 16.76% from CNY 59,207,758.47 in Q3 2016[24] - Operating profit for Q3 2017 was CNY 13,396,989.93, a decline of 41.0% from CNY 22,726,828.80 in Q3 2016[25] - The company recorded a total profit of CNY 14,382,800.66 in Q3 2017, which is a 38.5% decrease from CNY 23,313,095.68 in Q3 2016[25] - The total comprehensive income attributable to the parent company for Q3 2017 was CNY 12,306,178.19, reflecting a decrease of 37.1% compared to CNY 19,500,915.77 in Q3 2016[26]

Financial Performance - The company's operating revenue for the first half of 2017 was CNY 157,487,984.46, representing an increase of 11.22% compared to CNY 141,601,148.97 in the same period last year[21]. - The net profit attributable to shareholders for the first half of 2017 was CNY 29,852,078.42, a decrease of 19.51% from CNY 37,087,329.12 in the previous year[21]. - The net cash flow from operating activities decreased by 51.66% to CNY 19,393,183.67, down from CNY 40,115,095.30 in the same period last year[21]. - The total assets as of June 30, 2017, were CNY 772,232,435.00, an increase of 59.52% compared to CNY 484,107,463.49 at the end of the previous year[21]. - The net assets attributable to shareholders increased by 69.21% to CNY 687,592,735.56 from CNY 406,360,185.41 at the end of the previous year[21]. - Basic earnings per share for the first half of 2017 were CNY 0.3412, down 31.001% from CNY 0.4945 in the same period last year[22]. - The weighted average return on equity decreased by 4.91 percentage points to 5.49% from 10.40% in the previous year[22]. - The company achieved operating revenue of CNY 157.49 million, an increase of 11.22% compared to the same period last year[39]. - The company's operating profit decreased by 19.70% to CNY 34.75 million, while net profit attributable to shareholders fell by 19.51% to CNY 29.85 million[39]. Research and Development - The company focuses on the research and development of polyurethane foam stabilizers, which are essential additives in the production of polyurethane foam plastics[27]. - The company is committed to developing environmentally friendly and high-performance polyurethane stabilizers, aligning with industry trends towards sustainability[32]. - The company plans to enhance technological innovation and develop new products in response to market demand[40]. - The company’s R&D expenditure rose by 52.62% to CNY 8.43 million, reflecting increased investment in new materials[44]. - The company continues to focus on enhancing its research and development capabilities to drive innovation in its product offerings[130]. Market and Sales Strategy - The company operates a dual sales model, combining direct sales and distributors for both domestic and international markets[31]. - The company is actively expanding its market presence by participating in international exhibitions in countries like Russia, India, and Germany[38]. - New product sales generated CNY 13.4 million in revenue, becoming a major source of sales growth[38]. - The company maintains stable supplier relationships to ensure a reliable supply of raw materials[30]. - The company has established a comprehensive and effective procurement, production, and sales system to support its business development[28]. Financial Management and Risks - The company has outlined potential risks in its operations, which are detailed in the report[7]. - The company faced a risk of raw material price fluctuations, with over 80% of the main business costs attributed to key raw materials[52]. - The average price of key raw material D4 increased by 52.32% year-on-year, significantly raising product costs[38]. - The company will monitor raw material price trends and manage inventory to control costs effectively[52]. - The company plans to enhance its human resource management and employee incentive mechanisms to mitigate the risk of core technology personnel turnover[54]. Corporate Governance and Shareholder Information - The company did not propose any profit distribution plan or capital reserve transfer to increase share capital during the reporting period[5]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[6]. - The company has committed to not transferring or entrusting the management of its shares for thirty-six months from the date of listing[60]. - The company will not reduce its shareholding within three years of listing, and any reduction thereafter will not exceed 5% of the total shares held annually[64]. - The company will ensure that any related transactions are conducted under fair and reasonable conditions[63]. Legal and Compliance - The company has reappointed Ruihua Certified Public Accountants as its auditing firm for the fiscal year 2017[78]. - There were no significant lawsuits or arbitration matters during the reporting period[79]. - The company maintains a good integrity status in major aspects during the reporting period[79]. - The company has not disclosed any major related party transactions during the reporting period[81]. - The company has confirmed the existence of guarantees during the reporting period[83]. Asset and Liability Management - Total current assets increased to ¥603,336,220.61 from ¥317,689,161.79, representing an increase of approximately 89.8%[108]. - Cash and cash equivalents decreased to ¥137,001,050.59 from ¥201,961,040.11, a decline of about 32.2%[108]. - Total liabilities decreased to CNY 29,964,080.23 from CNY 42,586,238.29, a reduction of 29.6%[113]. - The company has not provided any guarantees to shareholders, actual controllers, or their related parties[84]. - The company approved a credit limit of CNY 60 million for its wholly-owned subsidiary, Nanjing Meiside New Materials Co., Ltd., during the 2016 annual shareholders' meeting[85]. Inventory and Asset Valuation - The company applies a perpetual inventory system for inventory management, ensuring accurate tracking of stock levels[171]. - Inventory is measured at the lower of cost and net realizable value, with provisions for inventory write-downs when the net realizable value is below cost[170]. - The company employs a weighted average method for inventory cost calculation upon issuance, ensuring consistent valuation[170]. - The company recognizes investment income and other comprehensive income based on the share of net profit or loss and other comprehensive income of the invested entity, adjusting the carrying value of long-term equity investments accordingly[177]. Financial Reporting and Accounting Policies - The financial statements are prepared in accordance with the relevant accounting standards, ensuring transparency and accuracy in financial reporting[141]. - The company has included its subsidiaries in the consolidated financial statements, maintaining a consistent reporting scope[136]. - The company recognizes expected liabilities when there is a present obligation that is likely to result in an outflow of economic benefits and can be reliably measured[197]. - The company assesses impairment for financial assets at each balance sheet date, recognizing impairment losses for assets with objective evidence of impairment[160]. - The company recognizes short-term employee benefits, including wages and bonuses, as liabilities in the accounting period when services are provided[193].

2017 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 2017 年第一季度报告 1 / 19 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 8 | 2017 年第一季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 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 | 752,716,386.49 | 484,107,463.49 | | | 55.49 | | 归属于上市公司 | 672,280,198.86 | 406,360,185.41 | | | 65.44 | | 股东的净资产 | | | | | | | | 年初至报告期末 | 上年初至上年报告期末 | 比上年同期增减(%) | | | | 经营活动产生的 | -1,864,109.47 | ...