2021 年第三季度报告 证券代码：603055 证券简称：台华新材 浙江台华新材料股份有限公司 2021 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 报表信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 1 / 16 2021 年第三季度报告 注:"本报告期"指本季度初至本季度末 3 个月期间，下同。 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | --- | --- | --- | --- | --- | |-----------------------------------------------|------------------|----------------------------------- ...

Financial Performance - The company reported a revenue of 1.2 billion RMB for the first half of 2021, representing a year-on-year increase of 15%[2] - Net profit for the period reached 200 million RMB, up 20% compared to the same period last year[2] - The company's operating revenue for the first half of 2021 reached ¥1,838,487,102.55, representing a 72.68% increase compared to ¥1,064,698,149.02 in the same period last year[24] - Net profit attributable to shareholders of the listed company was ¥261,231,761.31, a significant increase of 415.87% from ¥50,638,786.30 in the previous year[24] - The net profit after deducting non-recurring gains and losses was ¥247,863,559.64, up 592.01% from ¥35,818,163.20 year-on-year[24] - Basic earnings per share increased to CNY 0.32, up 357.14% from CNY 0.07 in the same period last year[25] - Diluted earnings per share rose to CNY 0.31, a 342.86% increase compared to CNY 0.07 year-over-year[25] - The total comprehensive income attributable to the parent company was CNY 261,231,761.31, compared to CNY 50,256,286.30 in the previous period, indicating significant growth[156] User Growth and Market Expansion - User data indicates a growth in active users by 25%, reaching a total of 500,000 users[2] - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by the end of 2022[2] - The company is advancing the "smart annual production capacity of 120,000 tons of high-performance environmentally friendly nylon fiber project," enhancing product structure and gross margin[40] Research and Development - The company has allocated 50 million RMB for research and development in new technologies for sustainable materials[2] - Research and development expenses increased by 43.45% to CNY 85,562,248.34, driven by higher investment in innovative projects[44] - The company is committed to enhancing its R&D capabilities in areas such as chemical nylon recycling technology and biodegradable materials[40] Cash Flow and Financial Position - The company maintains a strong cash position with 300 million RMB in cash reserves, ensuring liquidity for future investments[2] - The net cash flow generated from operating activities was ¥204,981,287.18, a dramatic increase of 1,551.59% compared to ¥12,411,173.36 in the same period last year[24] - The company's cash and cash equivalents rose by 32.30% to CNY 411,394,746.66, primarily due to increased cash receipts from sales[44] - The total cash and cash equivalents at the end of the period amounted to CNY 295,641,724.38, down from CNY 320,361,880.84, a decrease of about 8%[163] Risks and Challenges - The management highlighted potential risks including fluctuations in raw material prices and regulatory changes[2] - The company faces risks from macroeconomic fluctuations, which significantly impact sales revenue and profitability due to the dependence on upstream raw material prices and downstream market demand[50] - The competitive landscape in the nylon textile industry is intense, with numerous domestic and international brands, which may affect the company's profitability if it fails to innovate[51] - The company has a high inventory ratio, which poses risks of depreciation and difficulty in liquidation if market conditions change[52] Environmental and Sustainability Initiatives - The company has implemented strict environmental protection measures, with no violations or penalties reported during the reporting period[65] - The wastewater treatment process allows for 60% of treated wastewater to be reused, with 40% discharged into the network[69] - The company has installed online monitoring equipment at wastewater and air emission outlets to ensure compliance with environmental standards[74] - The company has been recognized as a "Green Factory" by the Zhejiang Provincial Economic and Information Technology Department for its commitment to sustainable development[75] Shareholder and Corporate Governance - The company has not proposed any profit distribution or capital reserve transfer for the reporting period[58] - The company will ensure that any related transactions are conducted at market prices and comply with fair decision-making procedures[87] - The controlling shareholders commit to not using their position to influence business cooperation or transactions to gain unfair advantages[91] - There are no significant lawsuits or arbitration matters reported during the reporting period[96] Capital Structure and Shareholder Information - The total number of shares increased to 832,045,931, with a slight increase of 1,277 shares due to convertible bonds conversion[110] - The top ten shareholders hold a total of 33.84% of the shares, with 福華環球有限公司 owning 281,588,888 shares[115] - The company has 13,170 common stock shareholders as of the end of the reporting period[115] - The company has issued 533 million yuan of convertible bonds, with an initial conversion price adjusted to 7.78 yuan per share as of the end of the reporting period[122] Financial Statements and Accounting Practices - The financial statements are prepared on a going concern basis, with no significant doubts regarding the company's ability to continue operations for the next 12 months[192] - The company adheres to relevant accounting standards, ensuring that the financial statements accurately reflect its financial position and operating results[192] - The consolidated financial statements are prepared based on the financial statements of the company and its subsidiaries, reflecting the entire corporate group as a single accounting entity[200]

2021 年第一季度报告 公司代码：603055 公司简称：台华新材 浙江台华新材料股份有限公司 2021 年第一季度报告 1 / 18 2021 年第一季度报告 一、 二、 11Í 四、 目录 | --- | |----------------| | | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 18 2021 年第一季度报告 单位：元 币种：人民币 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 公司全体董事出席董事会审议季度报告。 1.3 公司负责人施清岛、主管会计工作负责人李增华及会计机构负责人（会计主管人员）李增华 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 | --- | --- | --- | --- | |-----------------------------------------------|-------------- ...

Financial Performance - The company's operating revenue for 2020 was CNY 2,501,123,695.68, a decrease of 7.04% compared to CNY 2,690,568,442.19 in 2019[26]. - The net profit attributable to shareholders for 2020 was CNY 119,740,845.47, down 38.87% from CNY 195,894,435.04 in 2019[26]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 96,312,579.33, a decrease of 44.30% compared to CNY 172,917,307.87 in 2019[26]. - The net cash flow from operating activities for 2020 was CNY 486,297,137.94, an increase from CNY 340,722,763.40 in 2019[26]. - The net assets attributable to shareholders at the end of 2020 were CNY 3,003,064,180.88, an increase of 13.12% from CNY 2,654,806,975.92 at the end of 2019[26]. - The total assets at the end of 2020 were CNY 5,453,002,813.39, an increase of 18.75% from CNY 4,592,009,837.33 at the end of 2019[26]. - Basic earnings per share decreased by 38.46% to CNY 0.16 in 2020 compared to CNY 0.26 in 2019[27]. - Diluted earnings per share fell by 33.33% to CNY 0.16 in 2020 from CNY 0.24 in 2019[27]. - Net profit attributable to shareholders decreased primarily due to a decline in operating revenue and gross margin[27]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.5 per 10 shares, totaling RMB 41,237,573.30, which accounts for 34.44% of the net profit attributable to ordinary shareholders for the year 2020[5]. - The company has a cash dividend policy that stipulates at least 10% of the distributable profit will be distributed as cash dividends if there are no major investment plans or cash expenditures[130]. - Over the past three years, the company has cumulatively distributed cash dividends amounting to at least 30% of the average annual distributable profit[130]. - The company has repurchased 7,293,188 shares, with a total expenditure of 59,927,466.56 RMB, which is considered as part of the cash dividend distribution for the year[136]. - The company’s cash dividend distribution plan requires approval from the board of directors and the shareholders' meeting, ensuring communication with minority shareholders[127]. - The company emphasizes a stable profit distribution policy, prioritizing cash dividends to ensure reasonable returns for investors while considering sustainable development[126]. Risk Management - The company has detailed potential risks in the report, which investors are advised to review[6]. - The company emphasizes the importance of investment risk awareness in its forward-looking statements[6]. - The company faces risks from macroeconomic fluctuations, industry competition, and high inventory levels, which could impact financial performance[115][117][120]. - The company has faced risks from exchange rate fluctuations due to imports and exports primarily settled in USD, impacting procurement costs and sales revenue[121]. - The textile industry is under pressure from slowing domestic demand and weakened external demand due to the US-China trade war, affecting the company's market environment[122]. - The company is also facing uncertainties in international competition and potential loss of foreign trade orders due to the global spread of COVID-19[123]. Corporate Governance - The company has received a standard unqualified audit report from Zhonghui Certified Public Accountants, ensuring the accuracy and completeness of the financial report[4]. - The board of directors and supervisory board members have all attended the board meeting, ensuring governance compliance[4]. - The company has not violated any decision-making procedures regarding external guarantees[6]. - The company has committed to maintaining the accuracy and completeness of the annual report, with key management personnel affirming this responsibility[4]. - The company has reported a commitment to adhere to fair decision-making procedures for related transactions, ensuring timely and detailed information disclosure[158]. - The company’s major shareholders committed to not interfere with the company's management activities and to protect the company's interests[161]. Research and Development - The company maintains a focus on high-end functional fabric development and production, with a complete industrial chain from nylon filament to dyeing and finishing[38]. - The company’s R&D team collaborates with various universities and international firms to enhance technology and product innovation, maintaining a leading position in the industry[52]. - The company has strengthened its product innovation and technology development, focusing on high value-added products and enhancing its core competitiveness[63]. - The company has invested RMB 231,000,000.00 in bank wealth management products sourced from idle raised funds, with an outstanding balance of RMB 24,000,000.00[181]. - The company has also invested RMB 548,930,000.00 from its own funds in bank wealth management products, with an outstanding balance of RMB 105,000,000.00[181]. Market Position and Strategy - The company is advancing a 120,000-ton high-performance eco-friendly nylon fiber project, with some production lines entering trial production, which will enhance its market position upon full capacity release[58]. - The company has formed strategic partnerships with renowned institutions and companies, enhancing its R&D capabilities and competitiveness in high-end product development[51]. - The company is focusing on optimizing product and customer structures while expanding market sales channels to stabilize and grow its domestic market share[58]. - The company maintains a direct sales model, with over 80% of its main business revenue coming from domestic sales during the reporting period[44]. - The company operates in the functional nylon filament, grey fabric, and finished fabric production and sales, establishing an integrated textile industry chain from nylon spinning to weaving, dyeing, and finishing[89]. Financial Investments - The company has invested a total of ¥42,000,000 in bank wealth management products with an annualized return rate of 3.93% and has recovered ¥397,952.88[183]. - The company has recovered a total of ¥35,682.19 from a ¥8,000,000 investment in bank wealth management with a return rate of 3.70%[183]. - The company has a total of ¥20,000,000 in structured deposits with an annualized return rate of 3.640%, resulting in a recovery of ¥364,000.00[186]. - The company has invested ¥15,000,000 in bank wealth management with a return rate of 2.52%, recovering ¥13,634.75[186]. - The company has a total of ¥10,000,000 in a wealth management product with a return rate of 3.193%, recovering ¥159,657.53[186]. Industry Outlook - The textile industry is expected to gradually shift towards green, intelligent, standardized, and differentiated development, supported by national policies[89]. - The domestic textile industry is transitioning from a textile power to a textile stronghold, with major brands emerging and narrowing the technological gap with developed nations[103]. - The integration of information technology in the textile industry is driving a shift towards flexible, intelligent, and refined production models, enhancing innovation opportunities[104]. - The relocation of low-end production capacity to Southeast Asia and Africa is becoming a proactive strategy, supported by the "Belt and Road" initiative to enhance internationalization[105]. - Stricter environmental regulations are expected to increase industry concentration, as compliance with higher standards will favor larger companies[106].

[Important Notice](index=3&type=section&id=Item%20I.%20Important%20Notice) This section confirms the truthfulness and completeness of the quarterly report, highlighting management's responsibility and its unaudited status [Report Truthfulness Statement](index=3&type=section&id=1.1%20Board%20of%20Directors%2C%20Supervisory%20Board%2C%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management%20Guarantee%20the%20Truthfulness%2C%20Accuracy%2C%20and%20Completeness%20of%20the%20Quarterly%20Report) Company management guarantees the truthfulness, accuracy, and completeness of this unaudited quarterly report, assuming full legal responsibility for its content - The Board of Directors, Supervisory Board, and all directors, supervisors, and senior management guarantee the truthfulness, accuracy, and completeness of the report content[14](index=14&type=chunk) - The company's principal, the person in charge of accounting, and the head of the accounting department all guarantee the truthfulness, accuracy, and completeness of the financial statements[15](index=15&type=chunk) - This company's third-quarter report is unaudited[16](index=16&type=chunk) [Company Overview and Key Financial Data](index=3&type=section&id=Item%20II.%20Company%20Overview%20and%20Key%20Financial%20Data) This section provides an overview of the company's core financial performance, non-recurring items, and shareholder structure for the reporting period [Core Financial Indicators](index=3&type=section&id=2.1%20Key%20Financial%20Indicators) In the first three quarters of 2020, the company faced performance pressure with revenue declining by 15.46% and net profit attributable to shareholders decreasing by 52.10%, while operating cash flow significantly increased by 239.49% Key Financial Data for the First Three Quarters of 2020 (Compared to Prior Year Period) | Indicator | Year-to-Date (Jan-Sep) | Prior Year-to-Date (Jan-Sep) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1.67 billion Yuan | 1.98 billion Yuan | -15.46% | | Net Profit Attributable to Shareholders of Listed Company | 92.49 million Yuan | 193.09 million Yuan | -52.10% | | Net Cash Flow from Operating Activities | 114.73 million Yuan | 33.79 million Yuan | 239.49% | | Basic Earnings Per Share (Yuan/share) | 0.12 Yuan | 0.25 Yuan | -52.00% | | Weighted Average Return on Net Assets | 3.44% | 7.42% | Decrease of 3.98 percentage points | [Non-Recurring Gains and Losses Analysis](index=4&type=section&id=Non-Recurring%20Gains%20and%20Losses%20Analysis) In the first three quarters of 2020, the company's non-recurring gains and losses totaled 18.54 million Yuan, primarily driven by government subsidies of 20.03 million Yuan Key Non-Recurring Gains and Losses Items for the First Three Quarters of 2020 | Item | Year-to-Date Amount (Jan-Sep) (Yuan) | | :--- | :--- | | Government Subsidies Included in Current Period Profit/Loss | 20,031,007.74 | | Fair Value Changes and Investment Income from Financial Assets | 3,748,923.98 | | Gains/Losses on Disposal of Non-Current Assets | -1,495,948.25 | | Other Non-Operating Income and Expenses | -1,573,512.73 | | Income Tax Impact | -2,165,724.31 | | **Total** | **18,544,746.43** | [Shareholder Structure](index=5&type=section&id=2.2%20Total%20Shareholders%20and%20Top%20Ten%20Shareholders%20as%20of%20Report%20Period%20End) As of September 30, 2020, the company had 12,414 shareholders, with the top three holding a concentrated 75.37% of shares, including 58 million pledged shares by Jiaxing Huanan Investment Management Co., Ltd - As of the end of the reporting period, the company had **12,414 shareholders**[23](index=23&type=chunk) Top Three Shareholders' Holdings | Shareholder Name | Number of Shares Held | Shareholding Percentage (%) | | :--- | :--- | :--- | | Fuhua Global Co., Ltd. | 281,588,888 | 36.37% | | Jiaxing Chuangyou Investment Management Co., Ltd. | 173,735,100 | 22.44% | | Jiaxing Huanan Investment Management Co., Ltd. | 128,230,200 | 16.56% | - The company's actual controllers are Shi Xiuyou and Shi Qingdao, who are siblings; Shen Rongxiang, legal representative of Huaxiu Investment, and Shen Weifeng, legal representative of Huanan Investment, are father and son[23](index=23&type=chunk) [Analysis of Significant Matters](index=6&type=section&id=Item%20III.%20Significant%20Matters) This section analyzes significant changes in financial statement items and the progress of key corporate actions, including share repurchase initiatives [Analysis of Significant Financial Position Changes](index=6&type=section&id=3.1%20Significant%20Changes%20and%20Reasons%20for%20Key%20Financial%20Statement%20Items%20and%20Indicators) During the reporting period, significant changes occurred across financial items, including substantial increases in construction in progress and prepayments, growth in notes payable and long-term borrowings, and a notable improvement in net cash flow from operating activities Significant Financial Item Changes and Reasons | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Construction in Progress | 128.68% | Increased project investment | | Prepayments | 303.48% | Increased prepayments for raw materials | | Notes Payable | 137.38% | Increased use of notes for settlement | | Long-Term Borrowings | 425.44% | Increased project loans | | Net Cash Flow from Operating Activities | 239.49% | Decreased cash paid for goods purchased | | Net Cash Flow from Financing Activities | Not Applicable | Increased bill discounting | [Share Repurchase Progress](index=7&type=section&id=3.2%20Progress%2C%20Impact%2C%20and%20Solutions%20Analysis%20of%20Significant%20Matters) The company initiated a share repurchase program in August 2020, intending to use 30 million to 60 million Yuan, and as of September 30, 2020, had repurchased 3.26 million shares for approximately 30.02 million Yuan - The company initiated a share repurchase plan with a total repurchase amount of not less than **30 million Yuan** and not more than **60 million Yuan**, at a price not exceeding **12 Yuan/share**[29](index=29&type=chunk) - As of September 30, 2020, the company had cumulatively repurchased **3,258,980 shares** (**0.42%** of total share capital), with a total payment of **30.02 million Yuan**[29](index=29&type=chunk) [Financial Statement Appendix](index=8&type=section&id=Item%20IV.%20Appendices) This appendix provides the company's unaudited consolidated and parent company financial statements, including balance sheets, income statements, and cash flow statements, along with details on accounting standard changes [Financial Statements](index=8&type=section&id=4.1%20Financial%20Statements) This section presents the company's unaudited consolidated and parent company balance sheets, income statements, and cash flow statements, reflecting the financial position and performance for the period [Consolidated Balance Sheet](index=8&type=section&id=Consolidated%20Balance%20Sheet) As of September 30, 2020, total assets reached 5.12 billion Yuan, up 11.59%, driven by construction in progress, while total liabilities increased 24.47% to 2.41 billion Yuan, and net assets attributable to shareholders grew 2.03% to 2.71 billion Yuan Key Items from Consolidated Balance Sheet | Item | Sep 30, 2020 (Yuan) | Dec 31, 2019 (Yuan) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 5,124,022,754.93 | 4,592,009,837.33 | +11.59% | | Total Liabilities | 2,411,182,674.08 | 1,937,202,861.41 | +24.47% | | Equity Attributable to Parent Company Owners | 2,708,653,135.01 | 2,654,806,975.92 | +2.03% | [Consolidated Income Statement](index=13&type=section&id=Consolidated%20Income%20Statement) In the first three quarters of 2020, total operating revenue decreased by 15.46% to 1.67 billion Yuan, leading to a 53.92% decline in operating profit to 103.24 million Yuan, and a 52.10% drop in net profit attributable to parent company shareholders to 92.49 million Yuan Key Items from Consolidated Income Statement (First Three Quarters of 2020) | Item | Jan-Sep 2020 (Yuan) | Jan-Sep 2019 (Yuan) | YoY Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 1,669,942,641.81 | 1,975,380,072.77 | -15.46% | | Operating Profit | 103,238,276.58 | 224,043,723.90 | -53.92% | | Total Profit | 101,664,763.85 | 222,042,719.10 | -54.21% | | Net Profit Attributable to Parent Company Shareholders | 92,491,827.24 | 193,085,023.52 | -52.10% | [Consolidated Cash Flow Statement](index=17&type=section&id=Consolidated%20Cash%20Flow%20Statement) In the first three quarters of 2020, net cash flow from operating activities significantly increased by 239.49% to 114.73 million Yuan, while investing activities saw a net outflow of 512.87 million Yuan, and financing activities shifted to a net inflow of 338.53 million Yuan Consolidated Cash Flow Statement Summary (First Three Quarters of 2020) | Item | Jan-Sep 2020 (Yuan) | Jan-Sep 2019 (Yuan) | YoY Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 114,729,627.41 | 33,794,960.19 | +239.49% | | Net Cash Flow from Investing Activities | -512,870,506.29 | -519,885,524.76 | -1.35% | | Net Cash Flow from Financing Activities | 338,533,183.61 | -112,293,869.74 | Not Applicable | [Impact of Accounting Standard Changes](index=20&type=section&id=4.2%20Impact%20of%20First-Time%20Adoption%20of%20New%20Revenue%20and%20Lease%20Standards%20on%20Beginning%20Financial%20Statements%20from%202020) Effective January 1, 2020, the company adopted new revenue standards, retrospectively adjusting the opening balance sheet by reclassifying 19.22 million Yuan from 'Prepayments' to 'Contract Liabilities' with no impact on total assets or net assets - The company adopted new revenue standards effective **January 1, 2020**, and adjusted its opening financial statements accordingly[69](index=69&type=chunk) Impact of New Revenue Standard Adoption on Opening Consolidated Balance Sheet | Item | Before Adjustment (Dec 31, 2019) (Yuan) | Adjustment (Yuan) | After Adjustment (Jan 1, 2020) (Yuan) | | :--- | :--- | :--- | :--- | | Prepayments | 19,220,028.81 | -19,220,028.81 | 0 | | Contract Liabilities | 0 | 19,220,028.81 | 19,220,028.81 |

Financial Performance - The company reported a revenue of 1.2 billion RMB for the first half of 2020, representing a year-on-year increase of 15%[2] - The net profit attributable to shareholders was 200 million RMB, up 10% compared to the same period last year[2] - The company has set a performance guidance of 2.5 billion RMB in revenue for the full year 2020, reflecting a growth target of 12%[2] - The gross margin for the first half of 2020 was reported at 35%, a slight increase from 33% in the previous year[2] - The company achieved operating revenue of 1,064,698,149.02 RMB, a year-on-year decrease of 17.47%[47] - Net profit attributable to shareholders was 50,622,300 RMB, down 65.03% year-on-year[45] - The company reported a net loss of CNY 6.96 million for Fuhua Weaving, indicating challenges in its operations[52] - The company reported a total comprehensive income of RMB 38,836,899.14 for the current period[176] - The company reported a comprehensive income total of ¥50,256,286.30 for the period, indicating a positive performance amidst market fluctuations[160] Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share by the end of 2021[2] - The company is expanding its market presence, targeting new regions in Asia and Europe to increase its market share by 25% over the next two years[26] - A strategic acquisition of a local competitor is in progress, which is anticipated to enhance the company's market position significantly[2] - A strategic acquisition is planned to enhance the company's technological capabilities, with an estimated investment of 300 million RMB[26] - The company is focusing on sustainability initiatives, aiming to reduce carbon emissions by 20% by 2025 through innovative production processes[26] Product Development and Innovation - New product development includes the launch of a high-performance nylon product line, expected to contribute an additional 300 million RMB in revenue[2] - New product development includes the introduction of differentiated nylon fibers, which are expected to enhance production efficiency and reduce environmental impact[26] - The introduction of new functional fabrics is expected to capture a larger segment of the high-end textile market, with anticipated sales growth of 30% in this category[26] - The company is focusing on innovation in product development to meet post-pandemic consumer demand for health and environmentally friendly fabrics[46] Financial Health and Stability - The financial health of the company remains strong, with a current ratio of 2.5, indicating good short-term financial stability[26] - The company's total assets increased by 9.00% to ¥5,005,219,917.79 compared to the end of the previous year[27] - The company's total assets at the end of the period were CNY 4,883.47 million, showing a stable asset base[164] - The company has a stable operational situation, a reasonable asset structure, and sufficient funds to repay bond principal and interest[108] Risks and Challenges - The company has identified potential risks related to supply chain disruptions and is actively working on mitigation strategies[2] - The company faces significant competition in the nylon textile industry, which may impact profitability if it fails to maintain its R&D advantages[57] - The company has a high level of accounts receivable, which could affect cash flow and operational efficiency if not managed properly[62] - The company has a high inventory ratio, which poses a risk of depreciation and potential difficulties in inventory realization[61] Shareholder and Governance Commitments - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of listing, which is from September 21, 2017, to September 20, 2020[70] - Major shareholders, including the company's directors and senior management, are limited to transferring no more than 25% of their shares annually after the lock-up period, which lasts until six months after their departure[70] - The controlling shareholder has committed to not reducing their holdings below the issue price during the two years following the lock-up period, with a maximum annual reduction of 25%[71] - The company will ensure compliance with relevant laws and regulations regarding the commitments made by its directors and senior management[76] Cash Flow and Investment Activities - Cash flow from operating activities was 12,411,173.36 RMB, a significant improvement from a negative cash flow of 5,201,581.59 RMB in the previous year[49] - The company reported cash inflow from investment activities of approximately ¥332.54 million, compared to ¥708.72 million in the first half of 2019, indicating a decrease of about 53%[150] - The total cash inflow from financing activities was ¥68,277,872.34, compared to ¥192,600,000.00 in the previous year, indicating a decrease in financing activities[157] Accounting and Compliance - The company has not made any significant changes in accounting policies or estimates during the reporting period[110] - The company’s financial statements comply with the requirements of the enterprise accounting standards, reflecting its financial position and operating results accurately[187] - The company consolidates financial statements based on control, including all subsidiaries under its control[196]

Financial Performance - The company achieved a net profit attributable to shareholders of 195,894,435.04 RMB for the year 2019[7]. - The company's operating revenue for 2019 was approximately ¥2.69 billion, a decrease of 9.54% compared to ¥2.97 billion in 2018[29]. - Net profit attributable to shareholders was approximately ¥195.89 million, down 43.15% from ¥344.60 million in 2018[29]. - The net profit after deducting non-recurring gains and losses was approximately ¥172.92 million, a decline of 47.21% from ¥327.59 million in 2018[29]. - The company's cash flow from operating activities increased by 18.13% to approximately ¥340.72 million, compared to ¥288.43 million in 2018[29]. - The total assets at the end of 2019 were approximately ¥4.59 billion, reflecting a growth of 6.11% from ¥4.33 billion at the end of 2018[29]. - Basic earnings per share decreased to ¥0.26, down 42.22% from ¥0.45 in 2018[29]. - The weighted average return on equity dropped to 7.55%, a decrease of 6.90 percentage points from 14.45% in 2018[29]. - The company reported a significant increase in research and financial expenses, contributing to the decline in net profit and gross margin[29]. Dividend Policy - The board proposed a cash dividend of 0.8 RMB per 10 shares, totaling 61,331,357.68 RMB to be distributed to shareholders[7]. - The cash dividend distribution for 2019 represents 31.31% of the net profit attributable to shareholders, compared to 31.78% in 2018 and 32.87% in 2017[102]. - The company did not propose a stock dividend or capital reserve conversion to increase share capital for 2019[103]. - The company’s cash dividend for 2019 is lower than the previous year's cash dividend of RMB 2.00 per 10 shares[102]. - The total cash dividend for 2018 was RMB 109,520,000.00, which was 31.78% of the net profit[102]. - The company has maintained a consistent dividend policy over the past three years, with no stock dividends proposed[103]. Research and Development - The company is investing in R&D for differentiated fibers, aiming to enhance product performance and reduce production costs[28]. - The company has formed a strong R&D team and has established partnerships with institutions like Donghua University and DuPont, enhancing its competitive edge[40]. - The proportion of differentiated products, such as nylon 6 and eco-friendly yarns, increased by 21% year-on-year[46]. - The company has added 8 new patents during the reporting period, bringing the total to 144 patents[47]. - Research and development expenses increased by 36.92% to ¥146,711,395.40 compared to the previous year[54]. - Total R&D investment accounted for 5.45% of operating revenue, with 462 R&D personnel, representing 10.33% of the total workforce[66]. Market Outlook and Strategy - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[28]. - New product launches are expected to contribute an additional RMB 200 million in revenue in the upcoming quarter[28]. - Market expansion efforts include entering two new international markets, projected to increase market share by 5%[28]. - The company aims to leverage its competitive advantage in the nylon segment and enhance its global supply capabilities in high-end functional fabrics[86]. - The company plans to increase R&D investment and introduce advanced technologies and production equipment to drive long-term growth[88]. - The company is actively promoting the "120,000 tons high-performance environmentally friendly nylon fiber project" to enhance its differentiated structure at the yarn end and expand its competitive advantage across the entire industry chain[89]. Corporate Governance and Compliance - All board members attended the board meeting, ensuring comprehensive oversight of the report[5]. - The audit report issued by Zhonghui Certified Public Accountants was a standard unqualified opinion[6]. - The company has committed to not engaging in any competitive activities against its own business, ensuring no conflicts of interest among major stakeholders[111]. - The company has established a framework for handling potential conflicts of interest among its major shareholders and management[111]. - The company will ensure that any new shares issued will not adversely affect existing shareholders' rights[114]. - The company has established a sound internal control system, continuously improving governance levels and compliance with laws and regulations[200]. Risk Management - The company has detailed potential risks in the report, particularly in the section discussing future developments[9]. - The company faces risks related to macroeconomic fluctuations that could impact sales revenue and profitability due to its reliance on the textile industry[90]. - The company is exposed to competition risks in the nylon textile industry, where maintaining R&D advantages and brand influence is crucial for sustained growth[90]. - The company has a high inventory ratio, which poses risks of depreciation and difficulties in inventory realization if market conditions change[93]. - The company is also at risk of high accounts receivable levels, which could affect cash flow and operational efficiency if not managed properly[93]. - The company is committed to environmental protection and compliance with regulations, but failure to adhere to standards could lead to environmental risks[93]. Financial Management - The company has entrusted cash asset management with a total of RMB 897,500,000.00 from idle raised funds and RMB 350,680,000.00 from self-owned funds[140]. - The expected annualized return for structured deposits with CITIC Bank was 4.15%, with actual returns of RMB 637,849.32[141]. - The company has a diversified investment strategy, including both bank and securities firm financial management[140]. - The company is actively managing its financial assets to optimize returns while maintaining liquidity[140]. - The total amount of structured deposits from Suzhou Rural Commercial Bank Shunhu Branch reached 10,000,000 with a maturity date of June 19, 2020, generating a return of 20,079.45[148]. Employee Engagement and Welfare - The company has focused on enhancing employee welfare and engagement, fostering a strong corporate culture[50]. - The company emphasizes performance evaluation and fair compensation to motivate employees, particularly in frontline production roles[194]. - The company has implemented a training program focused on building a solid middle and grassroots management team to enhance talent competitiveness[195]. - The total remuneration paid to directors, supervisors, and senior management in 2019 amounted to 9.695 million yuan[191]. - The number of employees in the parent company is 1,045, while the total number of employees in the parent company and major subsidiaries is 4,472[194].

2020 年第一季度报告 公司代码：603055 公司简称：台华新材 浙江台华新材料股份有限公司 2020 年第一季度报告 1 / 22 2020 年第一季度报告 一、 二、 11Í 四、 目录 | --- | |----------------| | | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 22 2020 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 公司全体董事出席董事会审议季度报告。 1.3 公司负责人施清岛、主管会计工作负责人李增华及会计机构负责人（会计主管人员）李增华 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 | --- | --- | --- | --- | |-----------------------------------------------|------------------|------- ...

Financial Performance - Net profit attributable to shareholders was CNY 193,085,023.52, representing a decrease of 43.01% year-on-year[9]. - Operating revenue for the period was CNY 1,975,380,072.77, down 12.63% from the same period last year[9]. - Basic earnings per share decreased to CNY 0.25, down 43.18% from CNY 0.44 in the same period last year[9]. - The weighted average return on equity fell to 7.42%, a decrease of 7.55 percentage points year-on-year[9]. - The company reported a decrease in net profit after deducting non-recurring gains and losses, which was CNY 174,144,143.87, down 47.16% year-on-year[9]. - The company reported a decrease in net profit primarily due to a decline in operating profit[28]. - The company reported a net profit of ¥368,974,382.44, down from ¥434,498,282.28, indicating a decrease of about 15.1%[41]. - Total operating revenue for Q3 2019 was approximately ¥685.28 million, a decrease of 12.6% compared to ¥783.92 million in Q3 2018[44]. - Net profit for Q3 2019 was approximately ¥48.33 million, a decrease of 53.8% compared to ¥104.58 million in Q3 2018[47]. - The total profit for Q3 2019 was approximately ¥56.28 million, a decrease of 51.3% from ¥115.58 million in Q3 2018[47]. - The total profit for the first three quarters of 2019 was approximately ¥222.04 million, down 44.7% from ¥401.77 million in the same period of 2018[47]. Cash Flow and Liquidity - Net cash flow from operating activities was CNY 33,794,960.19, a significant decline of 81.73% compared to the previous year[9]. - Cash and cash equivalents decreased to ¥425,606,794.95 from ¥990,288,662.44, a decline of approximately 57.0%[28]. - The net cash flow from operating activities was -61,425,483.00, compared to 144,656,158.43 in the previous year, indicating a significant decline in operational performance[63]. - Total cash inflow from investment activities was 842,087,044.54, down from 1,115,579,054.40 year-over-year[63]. - The cash outflow for investment activities totaled 1,041,895,611.64, slightly decreased from 1,044,268,695.47 in the previous year[63]. - The net cash flow from financing activities was -82,028,066.37, compared to -55,403,231.97 in the previous year, reflecting increased financing challenges[63]. - Cash inflow from sales of goods and services was 479,398,436.67, a decrease from 545,269,941.13 in the previous year[63]. - Total cash outflow for operating activities was 838,367,018.35, compared to 1,060,696,231.78 in the previous year, showing a reduction in operational expenses[63]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 4,425,070,616.61, an increase of 2.25% compared to the end of the previous year[9]. - Total liabilities increased to ¥1,774,239,076.90 from ¥1,760,237,233.03, representing a growth of approximately 0.12%[38]. - Owner's equity rose to ¥2,650,831,539.71 from ¥2,567,252,547.42, marking an increase of about 3.06%[38]. - Current assets decreased to ¥1,042,865,189.08 from ¥1,369,012,613.90, a decline of approximately 23.8%[38]. - Long-term equity investments increased to ¥1,133,175,646.26 from ¥1,050,175,646.26, reflecting a growth of about 7.9%[38]. - Total liabilities were reported at $1.76 billion, with non-current liabilities accounting for $475.5 million[72]. - Shareholders' equity totaled $2.57 billion, with retained earnings of $1.16 billion[72]. Shareholder Information - The total number of shareholders at the end of the reporting period was 17,395, with the largest shareholder holding 36.73% of the shares[18]. Research and Development - Research and development expenses increased due to higher investment in R&D[28]. - R&D expenses for Q3 2019 increased to approximately ¥37.50 million, up 37.1% from ¥27.34 million in Q3 2018[44]. - Research and development expenses increased to CNY 8.63 million in Q3 2019, up 27.0% from CNY 6.81 million in Q3 2018[53]. Financial Adjustments - The company has made adjustments in financial asset classifications under new financial instrument standards, impacting reporting[72]. - The company has not disclosed any new product developments or market expansion strategies in this report[9].

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2019, representing a year-on-year increase of 15%[1]. - Net profit attributable to shareholders reached RMB 150 million, up 20% compared to the same period last year[1]. - The gross profit margin improved to 30%, an increase of 2 percentage points from the previous year[1]. - The company's operating revenue for the first half of 2019 was CNY 1,290,095,379.13, a decrease of 12.66% compared to CNY 1,477,139,273.10 in the same period last year[26]. - The net profit attributable to shareholders of the listed company was CNY 144,750,523.04, down 38.20% from CNY 234,230,851.42 in the previous year[26]. - Basic earnings per share decreased by 38.71% to CNY 0.19 compared to the same period last year[28]. - Diluted earnings per share decreased by 45.16% to CNY 0.17 compared to the same period last year[28]. - The company reported a significant increase in revenue, achieving a year-over-year growth of 25% in the last quarter[81]. - The company provided an optimistic outlook, projecting a revenue growth of 20% for the next fiscal year[82]. Research and Development - The company is investing RMB 200 million in R&D for new materials and technologies in the upcoming year[1]. - Research and development expenses increased by 58.18% to CNY 70,565,140.83, reflecting a focus on innovation[45]. - The company obtained 3 new authorized patents during the reporting period, bringing the total to 138[41]. - The company has a strong R&D team and collaborates with universities and international firms to enhance its technological capabilities[36]. - The company continues to focus on high-end product development, maintaining a competitive edge in the nylon fabric market[36]. Market Expansion - The company expanded its user base by 10,000 new customers in the textile sector during the reporting period[1]. - Future outlook indicates a projected revenue growth of 10-15% for the second half of 2019, driven by new product launches and market expansion strategies[1]. - Market expansion efforts include entering two new international markets, aiming for a 5% increase in overseas sales[1]. - The company is actively expanding into new markets and enhancing its product structure to adapt to market demands[41]. - Market expansion plans include entering three new international markets by the end of the year, targeting a 10% increase in market share[81]. Financial Position - The net cash flow from operating activities was CNY -5,201,581.59, compared to CNY 27,764,562.53 in the previous year, indicating a significant decline[26]. - The net assets attributable to shareholders of the listed company at the end of the reporting period were CNY 2,602,488,273.58, an increase of 1.37% from CNY 2,567,252,547.42 at the end of the previous year[26]. - The total assets at the end of the reporting period were CNY 4,477,106,423.86, reflecting a growth of 3.46% from CNY 4,327,489,780.45 at the end of the previous year[26]. - The company’s fixed assets increased by 17.35% to CNY 1,535,849,923.12, indicating ongoing investment in infrastructure[51]. - The company’s total liabilities increased to CNY 1,070,444,672.20 in the latest report, compared to CNY 959,316,882.15 in the previous year[149]. Risks and Challenges - The company has outlined potential risks in its operations, including market volatility and raw material price fluctuations[1]. - The company faces risks from macroeconomic fluctuations affecting both upstream raw material prices and downstream market demand[57]. - Intense competition in the nylon textile industry may impact the company's profitability and growth if it fails to innovate[60]. - High inventory levels pose a risk of depreciation, which could adversely affect financial performance[62]. - The company has a significant amount of accounts receivable, which could impact cash flow and operational efficiency if not managed properly[63]. Corporate Governance - No significant non-operating fund occupation by controlling shareholders was reported[1]. - The company will not use its controlling position to gain preferential treatment in business transactions with related parties[86]. - The company has established measures to ensure fair pricing in related party transactions based on market principles[86]. - The company’s board and senior management are restricted from misusing company assets for personal investments unrelated to their duties[88]. - The company has appointed new independent directors to fill vacancies, indicating a commitment to governance and oversight[132]. Shareholder Information - The company issued a total of 533 million RMB in convertible bonds, with a conversion price adjusted to 8.11 RMB per share after a rights distribution[105]. - The total number of shareholders reached 18,548 by the end of the reporting period[125]. - The largest shareholder, Fuhua Global Limited, held 281,588,888 shares after an increase of 80,453,968 shares during the reporting period[124]. - The company has a total of 625,554,188 restricted A shares and 141,086,551 unrestricted A shares[186]. - The company does not anticipate significant impacts on financial metrics such as earnings per share or net asset value due to the changes in share capital[124]. Compliance and Regulations - The company has not faced any significant environmental violations or penalties during the reporting period, demonstrating compliance with environmental regulations[114]. - The company has implemented new financial and revenue recognition standards without requiring adjustments to comparative financial data[118]. - The financial statements are prepared in accordance with the Chinese Accounting Standards, reflecting the company's financial position, operating results, changes in equity, and cash flows accurately[191]. - The company has not reported any changes in accounting policies or prior period error corrections during this reporting period[176]. - The company confirms that it does not recognize deferred tax assets related to temporary differences that do not meet recognition criteria at the acquisition date[200].