Financial Performance - Revenue for Q3 2022 reached ¥224,884,075.76, an increase of 10.05% compared to the same period last year[5] - Net profit attributable to shareholders was ¥20,305,918.86, up 62.02% year-on-year, while the net profit after deducting non-recurring gains and losses was ¥19,794,165.30, an increase of 57.51%[5] - Year-to-date revenue totaled ¥694,914,983.62, reflecting a growth of 28.81% compared to the previous year[5] - Basic and diluted earnings per share for Q3 2022 were both ¥0.0797, representing a significant increase of 155.45% year-on-year[6] - Net profit for the third quarter of 2022 was ¥72,167,175.73, significantly higher than ¥27,406,915.53 in the same quarter of 2021, reflecting a growth of approximately 162.5%[19] - Basic and diluted earnings per share for the third quarter of 2022 were both ¥0.3213, compared to ¥0.1092 in the same quarter of 2021, marking an increase of approximately 194.5%[21] - Total operating revenue for the first three quarters of 2022 reached ¥694,914,983.62, an increase from ¥539,504,797.38 in the same period of 2021, representing a growth of approximately 28.8%[18] - Total operating costs for the first three quarters of 2022 were ¥618,859,501.78, compared to ¥509,890,607.83 in the previous year, indicating an increase of about 21.4%[18] Assets and Liabilities - Total assets as of the end of Q3 2022 amounted to ¥2,320,518,321.70, a 3.21% increase from the end of the previous year[6] - The company's total current assets as of September 30, 2022, amount to ¥910,002,139.35, an increase from ¥773,712,513.09 at the end of 2021[14] - The total assets of the company are ¥2,320,518,321.70, compared to ¥2,248,281,468.76 at the end of 2021[15] - The company's total non-current liabilities decreased to ¥323,565,853.43 from ¥392,725,361.93[15] - The total current liabilities decreased to ¥490,204,810.67 from ¥679,271,289.82[15] - Total liabilities decreased from ¥1,095,098,877.63 in the previous year to ¥832,806,056.53 in the current year, a reduction of approximately 24.0%[20] - The total equity attributable to shareholders of the parent company increased from ¥1,155,087,310.31 to ¥1,270,012,287.63, reflecting a growth of about 9.9%[20] Cash Flow - Cash flow from operating activities for the year-to-date period was ¥94,664,492.12, with no applicable data for the current quarter[5] - The net cash flow from operating activities for the first three quarters of 2022 was ¥94,664,492.12, a turnaround from a negative cash flow of ¥77,535,108.78 in the same period of 2021[21] - Cash inflow from investment activities totaled $189,743,131.28, a decrease from $332,343,481.47 in the previous period, resulting in a net cash flow from investment activities of $6,394,616.79, compared to a negative $201,070,135.78 last year[22] - Cash inflow from financing activities amounted to $400,000,000.00, up from $253,000,000.00 in the previous period, leading to a net cash flow from financing activities of $159,889,126.55, compared to $89,930,418.57 last year[22] - The net increase in cash and cash equivalents was $260,924,910.06, contrasting with a decrease of $188,674,825.99 in the previous period[22] - The ending balance of cash and cash equivalents reached $466,212,041.47, compared to $249,710,361.39 at the end of the previous period[22] Shareholder Information - The total number of common shareholders at the end of the reporting period is 42,132[11] - The largest shareholder, Yin Fuhua, holds 49,336,370 shares, accounting for 19.37% of total shares[11] - The company has a pledge situation for 14,591,603 shares held by a major shareholder[11] Expenses and Financial Management - Significant increase in financial expenses by 433.71% primarily due to project loans being recorded as financial expenses[10] - The company reported a 115.78% increase in taxes and surcharges, attributed to sales growth[10] - Research and development expenses for the third quarter of 2022 amounted to ¥29,214,599.71, up from ¥26,449,806.08 in the previous year, indicating an increase of about 10.5%[19] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[5] Accounting Standards - The company did not apply new accounting standards or interpretations for the first time in 2022[23]

Financial Performance - The company's operating revenue for the first half of 2022 reached ¥470,030,907.86, representing a 40.24% increase compared to ¥335,154,670.42 in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2022 was ¥61,542,557.76, a significant increase of 302.80% from ¥15,278,838.33 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was ¥57,643,638.34, up 309.15% from ¥14,088,763.57 year-on-year[18]. - The net cash flow from operating activities was ¥149,148,931.49, compared to a negative cash flow of ¥19,629,308.95 in the same period last year[18]. - Basic earnings per share for the first half of 2022 were ¥0.2416, a 302.67% increase from ¥0.0600 in the same period last year[18]. - The weighted average return on net assets increased by 3.85 percentage points to 5.22% from 1.37% in the previous year[18]. - The company achieved operating revenue of CNY 470.03 million in the first half of 2022, a year-on-year increase of 40.24%[40]. - The net profit attributable to shareholders reached CNY 61.54 million, up 302.80% compared to the same period last year[40]. - The company reported a net profit of -¥16.12 million for Jiangyin Jianghua Microtrade Co., Ltd., indicating a loss[50]. - The company reported a total revenue from sales of goods and services of CNY 442,614,036.25, which is an increase from CNY 250,453,641.43 in the first half of 2021, reflecting a growth of approximately 77%[106]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,362,574,193.58, reflecting a 5.08% increase from ¥2,248,281,468.76 at the end of the previous year[18]. - The net assets attributable to shareholders increased by 8.19% to ¥1,249,706,368.77 from ¥1,155,087,310.31 at the end of the previous year[18]. - Total liabilities decreased to ¥888,694,671.23 from ¥1,095,098,877.63, a reduction of about 19.00%[94]. - The company's total liabilities decreased to ¥317,884,959.04 from ¥401,975,833.43, indicating a reduction of 21%[97]. - The total equity attributable to shareholders at the end of the period was ¥1,251,187,132.50, showing a growth from the previous year's balance[125]. Cash Flow - The company's operating cash flow net amount was CNY 149.15 million, a significant recovery from a negative cash flow in the previous year[43]. - The net cash flow from operating activities for the first half of 2022 was ¥130,537,615.49, a significant improvement compared to a net outflow of ¥17,232,155.32 in the same period of 2021, representing a turnaround of over 855%[109]. - Total cash inflow from operating activities increased to ¥351,877,179.65 in the first half of 2022, which is a 40.5% increase from ¥250,453,641.43 in the first half of 2021[109]. - The total cash outflow from operating activities was CNY 397,353,017.26, compared to CNY 278,575,589.22 in the previous year, indicating an increase in operational expenditures[107]. Research and Development - The company’s R&D team consists of over 50 professionals, leveraging partnerships with academic institutions to stay at the forefront of technological advancements[34]. - The company’s R&D expenses were CNY 16.90 million, showing a slight decrease of 2.66% year-on-year[44]. - The company has developed 13 high-tech products recognized by the Jiangsu Provincial Department of Science and Technology, including high-efficiency acidic stripping solutions and low-temperature water-based positive resists[34]. Market and Industry - The company’s main business includes the R&D, production, and sales of ultra-pure reagents and photoresist supporting reagents, primarily used in microelectronics and optoelectronics[23]. - The market for wet electronic chemicals is recognized as a significant category in semiconductor manufacturing, with increasing demand in the industry[27]. - The wet electronic chemicals market in China is projected to exceed 10.5 billion yuan, with a demand of 1.4704 million tons, maintaining a double-digit growth rate in the coming years[32]. - The global consumption of electronic chemicals has maintained an average annual growth rate of over 8% since the 1990s, making it one of the fastest-growing sectors in the chemical industry[31]. Risks and Challenges - The company faces risks from fluctuations in the prices of key raw materials, which include various chemical compounds, potentially impacting production operations[52]. - Increased competition in the wet electronic chemicals market is anticipated, which may affect product pricing and profitability due to heightened market pressures[53]. - The company faces risks related to accounts receivable, with a significant balance that could pressure liquidity and increase the risk of bad debts[56]. - Environmental protection costs are expected to rise due to stricter regulations and customer demands, potentially impacting operational costs[55]. Corporate Governance - The company has not disclosed any plans for new products, technologies, market expansion, or mergers and acquisitions in the report[4]. - There are no significant risks or non-operational fund occupation issues reported by the controlling shareholders[5]. - The company did not propose any profit distribution or capital reserve transfer plan for the half-year period[62]. - The controlling shareholder has committed to not engage in any competitive activities with the company[70]. Shareholder Information - The total share capital after the distribution is 254,763,913 shares, an increase of 58,791,672 shares from the previous 195,972,241 shares[80]. - A cash dividend of 0.09 RMB per share was distributed, totaling 17,637,501.69 RMB[80]. - The number of ordinary shareholders reached 43,215 by the end of the reporting period[81]. - The largest shareholder, Yin Fuhua, holds 49,336,370 shares, accounting for 19.37% of the total shares[83]. Compliance and Regulations - The company adheres to strict environmental protection laws and has not faced any administrative penalties related to environmental issues during the reporting period[65]. - The company has implemented measures to ensure compliance with environmental regulations without incurring penalties[66]. - The company’s financial statements are prepared based on the assumption of going concern, with no significant doubts about its ability to continue operations in the next 12 months[131].

Financial Performance - Revenue for Q1 2022 reached ¥243,917,158.79, an increase of 55.98% compared to the same period last year[2] - Net profit attributable to shareholders was ¥33,013,413.99, representing a significant increase of 253.78% year-on-year[2] - Basic earnings per share for the quarter were ¥0.1685, up 253.88% from the previous year[2] - The company's net profit for Q1 2022 is not explicitly stated, but the increase in revenue suggests a positive trend in profitability[16] - The net profit for Q1 2022 was CNY 33,009,163, a significant increase from CNY 9,190,040 in Q1 2021, representing a growth of approximately 259%[18] - The company reported an operating profit of CNY 39,247,830.64, up from CNY 10,008,425.47 in Q1 2021, marking an increase of approximately 292%[18] - The total profit before tax for Q1 2022 was CNY 38,439,695.20, compared to CNY 9,896,128.69 in Q1 2021, reflecting a growth of approximately 288%[18] Assets and Liabilities - The company's total assets decreased by 3.54% to ¥2,168,617,971.43 compared to the end of the previous year[3] - Cash and cash equivalents as of March 31, 2022, amounted to RMB 225,398,731.79, down from RMB 292,703,078.05 as of December 31, 2021, reflecting a decrease of approximately 23%[11] - Total assets decreased to RMB 2,168,617,971.43 from RMB 2,248,281,468.76, a decline of about 3.5%[14] - Total liabilities decreased to RMB 982,426,217.30 from RMB 1,095,098,877.63, indicating a reduction of approximately 10.3%[13] Cash Flow - Operating cash flow for the quarter was negative at -¥9,062,799.82, a decline of 78.73% year-on-year[2] - The net cash flow from operating activities was negative CNY 9,062,799.82, an improvement from negative CNY 42,616,193.77 in Q1 2021[20] - Investment activities resulted in a net cash outflow of CNY 11,678,958.46, an improvement from a net outflow of CNY 182,130,932.89 in Q1 2021[21] - The company raised CNY 25,000,000 through borrowings, consistent with the previous year, while cash outflows for debt repayment increased to CNY 33,318,960 from CNY 15,079,740[21] Costs and Expenses - The company reported a 35.14% increase in operating costs, primarily due to sales growth[5] - Total operating costs for Q1 2022 were RMB 204,885,901.12, up from RMB 145,538,272.84 in Q1 2021, indicating an increase of about 40.7%[16] - Research and development expenses increased by 59.76%, indicating a focus on innovation and new projects[5] - The company's R&D expenses for Q1 2022 were RMB 8,979,720.84, up from RMB 5,620,610.62 in Q1 2021, reflecting an increase of about 59.5%[16] Receivables and Inventory - The number of receivables decreased by 55.73%, attributed to an increase in procurement payments[5] - Accounts receivable increased to RMB 345,469,541.90 from RMB 310,267,999.27, showing a rise of about 11.3%[12] - Inventory as of March 31, 2022, was RMB 54,441,488.18, compared to RMB 50,347,132.93 at the end of 2021, marking an increase of approximately 8.3%[12] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies[2]

Financial Performance - The company achieved operating revenue of CNY 792,144,497.76 in 2021, an increase of 40.50% compared to the previous year[21]. - The net profit attributable to shareholders was CNY 56,507,706.01, a decrease of 2.90% year-on-year[21]. - The gross profit margin was 22.15%, down by 3.67 percentage points from the previous year[28]. - The company reported a net cash flow from operating activities of CNY -49,311,873.67, worsening by 433.95% compared to the previous year[21]. - The total assets at the end of 2021 were CNY 2,248,281,468.76, an increase of 13.07% from the end of 2020[21]. - The company’s basic earnings per share decreased by 8.09% to CNY 0.2883 in 2021[22]. - The operating cost increased by 47.45% to CNY 616,646,016.92, impacting overall profitability[28]. Dividend and Share Capital - The company plans to distribute a cash dividend of 0.9 CNY per 10 shares, totaling 17,637,501.69 CNY (including tax) based on the share capital as of December 31, 2021[4]. - The company will increase its share capital by 3 shares for every 10 shares held, resulting in a total increase of 58,791,672 shares, bringing the total share capital to 254,763,913 shares[4]. - The cash dividend distribution policy allows for a minimum of 80% cash dividends during mature phases without major expenditures, and 40% if there are significant spending plans[145]. - The board must consider the company's sustainable operation capability and investor returns when proposing profit distribution plans, ensuring compliance with legal and regulatory requirements[146]. Industry and Market Position - The company operates in the microelectronics sector, focusing on high-purity reagents and electronic chemical materials[11]. - The company has been focusing on market expansion and product structure adjustment to increase the proportion of high-value-added products in the semiconductor and flat panel display industries[28]. - The company is positioned to become a competitive international manufacturer of wet electronic chemicals with G5 product capabilities upon the completion of the Zhenjiang base[36]. - The wet electronic chemicals industry is expected to maintain a double-digit growth rate, with the market size projected to exceed ¥10.5 billion by 2020[35]. - The company’s products are critical for processes in flat panel displays, semiconductors, LEDs, and solar energy, indicating a strong market demand and growth potential[37]. Research and Development - The company holds 104 patents, including 39 invention patents and 64 utility model patents, showcasing its strong R&D capabilities[38]. - R&D expenses increased by 19.26% to ¥36,215,561.31, driven by an increase in research samples[46]. - The company has established a stable cooperative relationship with Nanjing University for joint R&D, enhancing its technological edge[38]. - The company is focused on R&D in new materials and technologies to improve its competitive position in the market[94]. Risk Management - The company emphasizes that future plans and strategic developments mentioned in the report do not constitute a commitment to investors, highlighting potential investment risks[5]. - The company has detailed potential industry and operational risks in the report[7]. - The company faces risks from fluctuations in the prices of key raw materials, which include basic chemical materials such as hydrofluoric acid and isopropanol, potentially impacting production operations[110]. - Environmental protection and safety production risks are present, with potential increases in environmental governance costs and the possibility of accidents affecting operations[112]. Governance and Compliance - The company maintains a robust governance structure, ensuring compliance with laws and regulations, and promoting independent operations of its board and management[114]. - The company has established independent financial management systems, ensuring proper accounting practices and financial decision-making[117]. - The company has not reported any new product launches or technological developments in the current period[121]. - The company has not engaged in any cash asset management or entrusted loan activities during the reporting period[183]. Customer and Supplier Relationships - The company has established stable partnerships with major clients in various sectors, including BOE, China Electronics Rainbow, and Tongwei Solar[36]. - The company’s procurement process includes strict supplier selection to ensure quality and price stability of raw materials[74]. - The company has established stable relationships with downstream customers, allowing for rapid response to new product development needs[79]. Employee and Management Structure - The company employed a total of 579 staff members, including 400 in the parent company and 179 in major subsidiaries[140]. - The workforce composition includes 345 production personnel, 32 sales personnel, 95 technical personnel, 15 financial personnel, and 92 administrative personnel[140]. - The company has implemented a performance-based salary system, linking compensation closely to performance evaluations[142]. - The company emphasizes comprehensive training for employees, focusing on improving skills and professional capabilities[143].

Financial Performance - The company's operating revenue for Q3 2021 was CNY 204,350,126.96, representing a year-on-year increase of 34.80%[5] - The net profit attributable to shareholders was CNY 12,533,120.11, showing a decrease of 38.91% compared to the same period last year[5] - The basic earnings per share for the quarter was CNY 0.0639, down 55.24% year-on-year[6] - The company reported a net profit of RMB 371,596,495.51 for the first nine months of 2021, compared to RMB 361,874,282.43 in the same period last year, indicating a growth of approximately 2%[20] - Net profit for the first three quarters of 2021 was ¥27.41 million, a decrease of 35.2% compared to ¥42.34 million in the same period of 2020[22] - Operating profit for the first three quarters of 2021 was ¥29.51 million, down 40.4% from ¥49.51 million in the same period of 2020[22] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 2,196,863,358.62, an increase of 10.48% from the end of the previous year[6] - As of September 30, 2021, the total assets of the company amounted to RMB 2,196,863,358.62, an increase from RMB 1,988,413,091.18 at the end of 2020, representing a growth of approximately 10.5%[20] - The company's current assets totaled RMB 749,167,155.61, down from RMB 803,901,167.08 in the previous year, indicating a decrease of about 6.8%[18] - Total liabilities reached RMB 1,072,229,071.14, up from RMB 873,095,973.87, which is an increase of approximately 22.8%[19] - The total liabilities were reported at 873,095,973.87 RMB, with current liabilities at 541,500,337.57 RMB and non-current liabilities at 331,595,636.30 RMB[32] Cash Flow - The company's cash flow from operating activities showed a net outflow of CNY 77,535,108.78, indicating a significant decline of 400.50%[6] - Cash flow from operating activities for the first three quarters of 2021 was negative at -¥77.54 million, compared to a positive cash flow of ¥25.80 million in the same period of 2020[27] - The net cash flow from financing activities was 89,930,418.57 RMB, a decrease from 100,318,891.51 RMB in the previous period, indicating a decline of approximately 1.4%[28] - The total cash and cash equivalents at the end of the period amounted to 249,710,361.39 RMB, down from 438,385,187.38 RMB at the beginning of the period, reflecting a decrease of about 43%[28] Inventory and Receivables - Accounts receivable increased by 39.88%, primarily due to sales growth[10] - Inventory levels rose by 81.91%, reflecting increased stock to support sales growth[10] - Accounts receivable increased significantly to RMB 256,824,336.32 from RMB 183,600,935.08, reflecting a growth of approximately 40%[17] - The company's inventory rose to RMB 55,498,917.17, compared to RMB 30,509,402.93 in the previous year, marking an increase of about 81.9%[18] Costs and Expenses - The company's gross profit margin decreased due to a 60.62% increase in operating costs attributed to sales growth and rising raw material prices[11] - Total operating costs for the first three quarters of 2021 were ¥509.89 million, up 40.6% from ¥362.50 million in the same period of 2020[21] Future Outlook - The company plans to continue expanding its semiconductor product line to drive future growth[5] - The company’s management indicated a focus on expanding market presence and investing in new technologies for future growth[24] Credit and Impairment - The company reported a 94.27% increase in credit impairment losses, mainly due to increased sales revenue[11] - The company incurred a credit impairment loss of -¥3.01 million in the third quarter of 2021, compared to -¥1.55 million in the same quarter of 2020[22] Equity and Dividends - The company's equity attributable to shareholders was RMB 1,126,391,562.74, slightly up from RMB 1,116,669,349.66, showing a marginal increase of about 0.2%[19] - The company distributed dividends and interest payments totaling 36,836,639.37 RMB, an increase from 25,712,378.49 RMB in the previous period, representing a growth of about 43%[28]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥335,154,670.42, representing a 30.56% increase compared to ¥256,706,305.96 in the same period last year[20] - The net profit attributable to shareholders for the first half of 2021 was ¥15,278,838.33, a decrease of 30.99% from ¥22,140,568.80 in the previous year[20] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥14,088,763.57, down 31.22% from ¥20,482,380.54 year-on-year[20] - The net cash flow from operating activities was -¥19,629,308.95, a significant decline of 235.93% compared to ¥14,440,446.30 in the same period last year[20] - The total assets at the end of the reporting period were ¥2,054,698,128.87, an increase of 3.33% from ¥1,988,413,091.18 at the end of the previous year[20] - The net assets attributable to shareholders at the end of the reporting period were ¥1,113,858,442.63, a slight decrease of 0.25% from ¥1,116,669,349.66 at the end of the previous year[20] - Basic earnings per share decreased by 52.64% to CNY 0.0780 compared to the same period last year[21] - Diluted earnings per share also decreased by 52.64% to CNY 0.0780 compared to the same period last year[21] - The weighted average return on equity dropped to 1.37%, down 1.39 percentage points from the previous year[21] - The company's gross profit margin decreased to 27.06%, down 3.5 percentage points year-on-year[43] - The company achieved a revenue of CNY 335.15 million in the first half of 2021, representing a 30.56% increase compared to the same period last year[43] - The company reported a net profit margin improvement, with net profits significantly contributing to retained earnings[121] Research and Development - The company has a professional R&D team of over 50 members and has developed 13 high-tech products recognized by Jiangsu Province, including various etching and stripping solutions[36] - The company’s R&D expenses increased by 55.36% to CNY 17.36 million compared to the previous year[43] - Research and development expenses rose to ¥17,358,021.24, an increase of 55.3% from ¥11,172,555.81 in the previous year[102] Market and Industry Trends - The wet electronic chemicals industry is experiencing rapid growth, with a global average annual consumption growth rate of over 8% since the 1990s, making it one of the fastest-growing sectors in the chemical industry[34] - The market size for wet electronic chemicals in China is expected to exceed 10.5 billion yuan, with a demand of 1.4704 million tons by 2020, and is projected to maintain double-digit growth in the coming years[34] - The company’s strategic focus aligns with national policies promoting new materials and electronic information technology as key emerging industries, indicating a favorable market outlook[34] - The company has established stable partnerships with major clients in various sectors, including high-end wet electronic chemicals for 6th and 8.5th generation flat panel display production lines, gradually replacing imports[35] - The company successfully entered the supply chain of leading enterprises in the semiconductor, flat panel display, and solar energy sectors, establishing a solid customer base for future growth[39] Production and Operations - The company’s main business includes the R&D, production, and sales of ultra-pure reagents and photolithography supporting reagents[26] - The production process is based on a "sales-driven production" model, aligning production with customer orders[27] - The company has implemented a recycling model for certain products, reducing raw material procurement costs[29] - The company aims to provide integrated solutions based on customer production processes and technical requirements[29] - The company’s production capacity expanded from 55,000 tons/year to 90,000 tons/year following the IPO fundraising project[43] - The company’s Sichuan factory has begun trial production, aiming to obtain safety production permits soon[45] - The company’s Jianghua Micro factory in Zhenjiang is in the final equipment debugging stage, expected to achieve a production capacity of 208,000 tons/year upon official operation[45] Financial Position and Capital Management - The company’s capital distribution plan includes a cash dividend of CNY 1.20 per 10 shares, totaling CNY 18,089,745.36[21] - The company has restricted cash of 113,712,951.30 CNY due to bank acceptance bills[50] - The company’s total current assets as of June 30, 2021, amounted to 750,421,081.63 RMB, a decrease from 803,901,167.08 RMB at the end of 2020[93] - The company's cash and cash equivalents were reported at 311,858,870.71 RMB, down from 550,920,885.23 RMB at the end of 2020[93] - The company reported fixed assets of 226,606,028.05 RMB, a slight decrease from 236,180,370.25 RMB at the end of 2020[93] - The company has a significant amount of accounts receivable, which poses liquidity risks and the potential for bad debts, impacting overall financial health[58] - The company has not reported any overdue guarantees during the reporting period[80] - The total amount of special reserves at the end of the period is 376,343,719, showing a slight increase from the previous balance[132] Risks and Challenges - The company faces risks from fluctuations in the prices of key raw materials, which include various chemical compounds, potentially impacting production operations[55] - There is a risk of being unable to predict future technological updates, which could hinder the company's ability to innovate and adapt to market demands in emerging fields like semiconductors and solar energy[56] - Increased competition in the wet electronic chemicals market may affect product pricing, customer retention, and overall profitability[56] - Environmental and safety production risks are present, including potential penalties for pollution and the possibility of accidents during operations[57] Shareholder and Governance Matters - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of listing[70] - The company will disclose any share reduction plans three trading days in advance[70] - The company has established a commitment to adhere to regulations regarding major shareholders and executives' share reductions[70] - The company reported no significant litigation or arbitration matters during the reporting period[77] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[76] - The company has not engaged in any major related party transactions during the reporting period[78] Accounting and Financial Reporting - The company has adopted the new leasing standards effective from January 1, 2021, in accordance with the Ministry of Finance's regulations[139] - The company follows the enterprise accounting standards, ensuring that financial statements reflect its financial position and operating results accurately[140] - The company prepares consolidated financial statements based on its own and subsidiaries' financial reports, reflecting the overall financial position, operating results, and cash flows of the entire corporate group[151] - The company recognizes expected credit losses for financial assets measured at amortized cost and those measured at fair value with changes recognized in other comprehensive income[178]

2021 年第一季度报告 公司代码：603078 公司简称：江化微 江阴江化微电子材料股份有限公司 2021 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 7 | 2021 年第一季度报告 一、 重要提示 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 非经常性损益项目和金额 √适用 □不适用 3 / 19 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 2,028,573,462.30 1,988,413,091.18 2.02% 归属于上市公司股东的净资产 1,126,000,922.79 1,116,669,349.66 0.84% 年初至报告期末 上年初至上年报告 期末 比上年同期增减 (%) 经营活动产生的现金流量净额 -42,616,193.77 16,620,022.46 -356.41% 年初至报告期末 上年初至上年报告 期末 比上年同期增减 （%） 营业收入 156,379,481.47 1 ...

Financial Performance - The net profit for the parent company in 2020 was CNY 65,231,232.20, with a distributable profit of CNY 58,708,108.98 after statutory surplus reserve allocation[5]. - The total distributable profit available to shareholders as of December 31, 2020, was CNY 374,301,098.18, after accounting for the cash dividend of CNY 10,920,000.00 paid in 2019[5]. - A cash dividend of CNY 1.20 per 10 shares (including tax) will be distributed, totaling CNY 18,089,745.36[5]. - The company's operating revenue for 2020 was ¥563.79 million, representing a 14.96% increase compared to ¥490.43 million in 2019[23]. - Net profit attributable to shareholders increased by 68.58% to ¥58.19 million in 2020 from ¥34.52 million in 2019[23]. - The basic earnings per share rose by 67.68% to ¥0.4078 in 2020, compared to ¥0.2432 in 2019[24]. - The weighted average return on equity increased to 6.97% in 2020, up from 4.43% in 2019, marking an increase of 2.54 percentage points[24]. - The total assets of the company reached ¥1,988.41 million at the end of 2020, a 47.31% increase from ¥1,349.83 million at the end of 2019[23]. - The net cash flow from operating activities was negative at -¥11.11 million in 2020, a decline of 125.11% compared to ¥44.24 million in 2019[23]. - The company reported a significant decrease in selling expenses by 77.95% to ¥10,753,728.55[57]. - The gross profit margin improved to 34.56%, up by 4.08 percentage points from the previous year[54]. Shareholder Returns and Capital Structure - The company plans to increase its share capital by 3 shares for every 10 shares held, resulting in an increase of 45,224,363 shares, bringing the total share capital to 195,972,241 shares[5]. - The company has a proactive profit distribution policy, prioritizing cash dividends, with a minimum of 20% of distributable profits allocated for cash dividends if no major investments are planned[125]. - The company plans to distribute cash dividends of 1.20 RMB per 10 shares, totaling 18,089,745.36 RMB, which accounts for 31.09% of the net profit attributable to shareholders for the year 2020[131]. - The company must conduct at least one profit distribution annually if it has positive distributable profits, with the board able to propose interim distributions based on profit and funding needs[127]. - The company’s profit distribution policy can be adjusted in response to significant changes in operational conditions or external factors like natural disasters[129]. - The company’s retained earnings must be used for operational needs, and any adjustments to the profit distribution policy must comply with regulatory requirements[130]. Corporate Governance and Compliance - The company has provided a standard unqualified audit report from Da Hua Certified Public Accountants[4]. - The company is committed to ensuring the accuracy and completeness of the annual report, with all board members present at the meeting[7]. - There are no violations of decision-making procedures regarding external guarantees[7]. - The company has established a mechanism to ensure compliance with regulatory requirements regarding share repurchase commitments[138]. - The company has not faced any penalties from securities regulatory authorities in the past three years[192]. - The company actively manages investor relations, ensuring effective communication with shareholders[199]. Market Position and Industry Outlook - The company specializes in the research, production, and sales of ultra-pure reagents and photolithography supporting reagents, primarily used in microelectronics and optoelectronics manufacturing processes[33]. - The wet electronic chemicals industry is closely tied to the rapid development of downstream sectors such as new energy, information communication, and consumer electronics, creating significant market opportunities[38]. - The company aims to become a comprehensive supplier that provides integrated solutions based on customer production processes and technical requirements, focusing on high-value-added products[37]. - The company is expected to achieve G5 product production capability after the completion of its investment projects in Zhenjiang and Sichuan, enhancing its international competitiveness in wet electronic chemicals[42]. - The company has developed a comprehensive range of wet electronic chemicals, serving major clients in the flat panel display, semiconductor, and solar energy sectors, including well-known enterprises like BOE and SMIC[47]. Research and Development - The company holds 83 patents, including 32 invention patents, demonstrating its strong R&D capabilities in the wet electronic chemicals field[45]. - The company has established a stable cooperative relationship with Nanjing University for joint R&D, ensuring access to cutting-edge theoretical research[45]. - The company emphasizes technological innovation through a combination of foreign technology absorption, independent research and development, and industry-academia collaboration[91][92]. - Research and development expenses amounted to 30.37 million yuan, an increase of 21.38% compared to the previous year, primarily due to increased investment in R&D projects[67]. Operational Efficiency - The production model is based on "sales-driven production," where manufacturing is organized according to customer orders, ensuring efficient procurement and production planning[34]. - The company implements strict supplier selection standards to ensure the quality and price of raw materials, maintaining a dual-supplier strategy for each material to ensure supply stability[35]. - The production process includes purification and mixing techniques, with a focus on high-purity standards and quality control at every stage of production[36]. - The company has optimized its production capacity structure, increasing the proportion of high-margin flat panel and semiconductor capacities while reducing low-margin solar energy capacity[97]. Risks and Challenges - The company faces risks from price fluctuations of key raw materials, which could impact production and operations[119]. - Increased competition in the wet electronic chemicals market may affect pricing, customer retention, and overall profitability[121]. - The company is exposed to the risk of technological updates in the industry, which could hinder its product development and market competitiveness if not anticipated[120]. Social Responsibility and Environmental Compliance - The company emphasizes its commitment to social responsibility, including tax compliance and investor relations management[157]. - The company has implemented clean production processes to minimize environmental impact and comply with relevant environmental laws[158]. - The company has not faced any penalties for environmental violations during the reporting period[159].

Financial Performance - Net profit attributable to shareholders rose by 29.40% to CNY 42,656,403.02 for the first nine months of the year[5] - Revenue for the first nine months reached CNY 408,302,181.91, a 12.19% increase year-over-year[5] - Basic earnings per share increased by 5.13% to CNY 0.3174[6] - The weighted average return on equity improved by 1.04 percentage points to 5.26%[6] - Total revenue from sales of goods and services increased by 42.39% to ¥309,846,457.58, attributed to business growth and improved cash collection management[14] Assets and Liabilities - Total assets increased by 15.99% to CNY 1,565,680,606.28 compared to the end of the previous year[5] - Accounts receivable decreased by 92.41% to ¥1,213,301.00 due to payments made to suppliers[12] - Prepayments increased by 114.00% to ¥8,366,770.31 primarily due to increased advance payments for raw material procurement[12] - Construction in progress rose by 53.00% to ¥473,615,999.82 as a result of increased investment in subsidiary projects[13] - Other receivables decreased by 87.85% to ¥651,075.59 mainly due to the recovery of a previous investment deposit of ¥5 million[13] Cash Flow and Financial Management - Operating cash flow increased by 40.32% to CNY 25,802,168.25 year-to-date[5] - Financial expenses increased by 83.08% to ¥4,807,441.17 due to an increase in short-term loans[13] Shareholder Information - The total number of shareholders reached 22,067 by the end of the reporting period[10] - The largest shareholder, Yin Fuhua, holds 27.42% of the shares, totaling 38,923,894 shares[10] Government Support and Non-Recurring Items - Government subsidies related to research and development amounted to CNY 5,425,424.67 year-to-date[7] - Other income rose by 103.85% to ¥5,425,424.67, mainly from government subsidies for new product R&D[13] - The company reported a non-recurring profit of CNY 2,697,641.51 for the current period[8] Future Projects and Plans - The company plans to complete the Sichuan project by March 2021 and the Zhenjiang project by June 2021, with delays caused by the pandemic[15] - The company has received approval for a non-public offering of A-shares, which is currently in progress[15] Capital Changes - The company’s capital stock increased by 30.00% to ¥141,960,000.00 due to the conversion of capital reserves[13]

Financial Performance - Net profit attributable to shareholders rose by 29.40% to CNY 42,656,403.02 for the first nine months of the year[6] - Operating revenue for the first nine months increased by 12.19% to CNY 408,302,181.91 compared to the same period last year[6] - The net cash flow from operating activities increased by 40.32% to CNY 25,802,168.25 year-to-date[6] - Basic earnings per share increased by 5.13% to CNY 0.3174[7] - Total operating revenue for Q3 2020 was CNY 151,595,875.95, an increase of 9.8% compared to CNY 137,974,479.40 in Q3 2019[22] - Net profit for the first three quarters of 2020 reached CNY 408,302,181.91, compared to CNY 363,952,630.25 in the same period of 2019, marking an increase of 12.2%[22] - The net profit for Q3 2020 was CNY 20,409,257.63, representing an increase from CNY 16,742,779.22 in Q3 2019, which is a growth of approximately 22.5%[24] - The total profit for Q3 2020 reached CNY 23,912,894.05, compared to CNY 18,974,097.78 in the same period last year, marking a year-over-year increase of about 26.5%[24] - Total profit for the first three quarters of 2020 was CNY 52,764,347.12, a 35.4% increase from CNY 38,923,417.09 in the same period of 2019[28] Assets and Liabilities - Total assets increased by 15.99% to CNY 1,565,680,606.28 compared to the end of the previous year[6] - The company's total assets as of September 30, 2020, amounted to CNY 1,221,317,988.69, up from CNY 1,066,116,373.28 at the end of 2019, representing a growth of 14.6%[20] - The total liabilities increased to CNY 390,595,281.20 as of September 30, 2020, compared to CNY 269,183,243.75 at the end of 2019, indicating a rise of 45.0%[20] - Total liabilities reached CNY 560,147,676.26, with current liabilities at CNY 337,012,379.86 and non-current liabilities at CNY 223,135,296.40[37] - Total assets amounted to CNY 1,349,830,654.98, with current assets at CNY 604,418,388.34 and non-current assets at CNY 745,412,266.64[35] Shareholder Information - The total number of shareholders reached 22,067 by the end of the reporting period[9] - The largest shareholder, Yin Fuhua, holds 27.42% of the shares, totaling 38,923,894 shares[9] - Shareholders' equity totaled CNY 789,682,978.72, including paid-in capital of CNY 109,200,000.00 and retained earnings of CNY 321,124,485.87[37] Cash Flow - The company's cash inflow from operating activities for the first three quarters of 2020 was CNY 316,399,491.48, an increase of 41.5% compared to CNY 223,686,634.75 in the same period of 2019[30] - The net cash flow from operating activities was CNY 25,802,168.25, compared to CNY 18,387,896.88 in the first three quarters of 2019[30] - Cash received from sales increased by 42.39% to ¥309,846,457.58 from ¥217,611,052.39 due to business growth and improved cash collection management[12] - Cash paid for purchasing goods increased by 49.15% to ¥196,891,397.10 from ¥132,011,808.89 due to increased procurement driven by business growth[12] - The ending cash and cash equivalents balance was CNY 224,856,548.77, down from CNY 242,668,709.97 at the end of the same period in 2019[31] Research and Development - The company received government subsidies related to research and development amounting to CNY 5,425,424.67 year-to-date[8] - Research and development expenses for Q3 2020 were CNY 7,873,126.60, compared to CNY 6,204,091.21 in Q3 2019, an increase of 26.9%[22] - The company plans to continue investing in new product development and market expansion strategies to drive future growth[28] Operational Efficiency - Accounts receivable decreased by 92.41% to ¥1,213,301.00 from ¥15,988,995.46 due to payments made to suppliers[11] - Prepayments increased by 114.00% to ¥8,366,770.31 from ¥3,909,657.63 primarily due to increased advance payments for raw material procurement[11] - Other receivables decreased by 87.85% to ¥651,075.59 from ¥5,357,715.69 mainly due to the recovery of prior investment deposits[11] - Construction in progress increased by 53.00% to ¥473,615,999.82 from ¥309,561,883.81 due to planned increased investments in subsidiary projects[12] - Payables increased by 3400.04% to ¥87,172,545.22 from ¥2,490,615.20 due to business growth and increased procurement[12] - Tax payable increased by 760.87% to ¥5,538,040.93 from ¥643,306.73 due to increased revenue and profit leading to higher tax liabilities[12]