金能科技股份有限公司独立董事提名人声明 提名人金能科技股份有限公司董事会,现提名崔洪芝为金能 科技股份有限公司第四届董事会独立董事候选人,并已充分了解 被提名人职业、学历、职称、详细的工作经历、全部兼职、有无 重大失信等不良记录等情况。被提名人已同意出任金能科技股份 有限公司第四届董事会独立董事候选人(参见该独立董事候选人 声明)。 提名人认为,被提名人具备独立董事任职资格,与金能科技 股份有限公司之间不存在任何影响其独立性的关系,具体声明如 下： 一、被提名人具备上市公司运作的基本知识,熟悉相关法律、 行政法规、规章及其他规范性文件,具有5年以上法律、经济、 财务、管理或者其他履行独立董事职责所必需的工作经验。 被提名人尚未取得独立董事资格证书,承诺将参加上海证券 交易所组织的最近一次独立董事资格培训,并取得独立董事任职 资格证书。 二、被提名人任职资格符合下列法律、行政法规和部门规章 的要求: (一)《中华人民共和国公司法》关于董事任职资格的规定; (二)《中华人民共和国公务员法》关于公务员兼任职务的 规定(如适用); (三)中国证监会《上市公司独立董事管理办法》、上海证 券交易所自律监管规则以及公司章程 ...

证券代码：603113 证券简称：金能科技 公告编号：2023-109 暨减持进展公告 本公司董事会、全体董事及相关股东保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 控股股东及其一致行动人持股的基本情况 截至本报告披露日，金能科技股份有限公司（以下简称"公司"）控股股东 秦庆平、王咏梅夫妇及其一致行动人秦璐女士、中阅资本管理股份公司－中阅聚 焦 11 号私募证券投资基金（以下简称"中阅聚焦 11 号"）合计持有公司 42,321.80 万股，其中，控股股东秦庆平先生持有公司 31,790.97 万股，占公司总股本的 37.1786%。王咏梅女士直接持有公司 1,654.50 万股，通过齐河君创股权投资合 伙企业（有限合伙）（以下简称"齐河君创"）、齐河君和股权投资合伙企业（有 限合伙）（以下简称"齐河君和"）间接持有公司 226.32 万股，合计占公司总股 本的 2.20%。秦璐女士持有公司股份 96 股，占公司总股本的 0.000011%。中阅聚 焦 11 号持有公司股份 8,650.00 万股，占公司总股本的 10.1159% ...

2023 年第一季度报告 证券代码：603113 证券简称：金能科技 金能科技股份有限公司 2023 年第一季度报告 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法律责任。 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信息 的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 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 | 项目 | 本报告期 | 本报告期比上年同期增 | | --- | --- | --- | | | | 减变动幅度(%) | | 营业收入 | 3,441,807,141.30 | -23.83 | | 归属于上市公司股东的净利润 | -138,740,512.00 | -211.77 | | 归属于上市公司股东的扣除非经 | -179,825,769.17 | -286.07 | ...

| 证券代码：603113 | 证券简称：金能科技 | 公告编号：2023-054 | | --- | --- | --- | | 债券代码：113545 | 债券简称：金能转债 | | 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： 投资者可于 2023 年 4 月 27 日(星期四)至 5 月 3 日(星期三)16:00 前登 录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 jinnengkeji@jin-neng.com 进行提问。公司将在说明会上对投资者普遍关注的 问题进行回答。 金能科技股份有限公司（以下简称"公司"）已于 2023 年 4 月 21 日披露 公司 2022 年度报告，为便于广大投资者更全面深入地了解公司 2022 年度经营成 果、财务状况，公司计划于 2023 年 5 月 4 日上午 9:00-10:00 举行 2022 年度业 绩说明会，就投资者关心的问题进行交流。 一、说明会类型 本次投资者说明会以网络互动形势召开，公司将针对 2022 年度的经营成果 及财务指 ...

Financial Performance - In 2022, the company's operating revenue reached ¥16,800,675,660, representing a 39.85% increase compared to ¥12,013,130,011.11 in 2021[20] - The net profit attributable to shareholders was ¥249,174,605.94, a significant decrease of 73.09% from ¥925,809,497.40 in the previous year[20] - The net profit after deducting non-recurring gains and losses was ¥11,681,899.24, down 98.52% from ¥788,527,347.71 in 2021[20] - The company's total assets increased by 24.49% to ¥16,325,812,918 from ¥13,113,830,212.41 in 2021[20] - The net assets attributable to shareholders decreased slightly by 0.42% to ¥8,707,439,940.02 from ¥8,744,276,532.01 at the end of 2021[20] - The cash flow from operating activities for the year was ¥512,521,684.51, reflecting a 162.31% increase compared to the previous year[20] - Basic earnings per share decreased by 73.64% to CNY 0.29, while diluted earnings per share decreased by 68.00% to CNY 0.32[21] - The weighted average return on equity decreased by 8.19 percentage points to 2.86%, and the return on equity after deducting non-recurring gains and losses decreased by 9.28 percentage points to 0.13%[21] - The company reported a total revenue of 351.17 million, with a year-on-year increase of 9.95 million, representing a growth of approximately 2.9%[136] Dividend and Profit Distribution - The company plans to distribute a cash dividend of ¥1.20 per 10 shares, amounting to a minimum of 15% of the distributable profit for the year[5] - The company declared a cash dividend of 1.20 RMB per 10 shares, totaling 101,753,426.88 RMB for the reporting period[160] - The company has a clear cash dividend policy, ensuring at least 15% of distributable profits are allocated for dividends when conditions are met[157] Operational Developments - The company is actively advancing the construction of the second phase project with a capacity of 900,000 tons/year PDH and 450,000 tons/year PP, expected to be fully operational in 2023[32] - The company has planned a third phase project including 440,000 tons/year of butyl acrylate and 120,000 tons/year of superabsorbent polymer, with production expected to start by the end of 2025[33] - The company is constructing a new 40,000 tons/year potassium sorbate project to enhance its competitive edge and extend its industrial chain[41] - The company is constructing a new materials and hydrogen energy project in Qingdao with a capacity of 900,000 tons/year for propane dehydrogenation and 450,000 tons/year for high-performance polypropylene[47] Market and Product Performance - The company's operating revenue increased by 39.85% compared to the previous year, primarily due to the release of production capacity at Jinneng Chemical (Qingdao) and increased sales of propylene, polypropylene, and carbon black products[22] - The company’s main products production and sales volumes showed the following changes: - Olefin products: Production 764,840 tons, Sales 779,910 tons, Inventory 4,140 tons[35] - Carbon black products: Production 618,440 tons, Sales 624,540 tons, Inventory 19,600 tons[35] - Coking products: Production 1,922,470 tons, Sales 1,935,140 tons, Inventory 238,470 tons[35] - Refined products: Production 45,340 tons, Sales 45,500 tons, Inventory 1,847 tons[35] - The company reported a quarterly revenue of CNY 4.52 billion in Q1, CNY 4.31 billion in Q2, CNY 5.28 billion in Q3, and CNY 2.70 billion in Q4[24] Cost and Expense Management - The company reported a significant increase in operating costs by 55.56% due to rising raw material prices and new product costs[58] - The company's sales expenses increased by 33.67% year-on-year, primarily due to higher sales personnel wages[69] - The company's financial expenses surged by 643.11% year-on-year, mainly due to convertible bond interest expenses and increased exchange losses[69] - The total R&D expenditure for the period was ¥686,639,203.30, accounting for 4.09% of operating revenue[71] Environmental and Sustainability Initiatives - The company has established a unique "C3+C4+photovoltaic+hydrogen" green chemical industry chain, focusing on new materials and new energy[47] - The company has successfully reduced fresh water consumption through advanced wastewater treatment technologies, enhancing environmental benefits[169] - The company has reduced carbon emissions by 125,000 tons through the adoption of carbon reduction technologies during production processes[181] - The company has implemented a three-tier supervision mechanism for the operation of pollution prevention facilities, which are functioning well[170] Governance and Compliance - The company has not faced any penalties from securities regulatory agencies in the past three years[144] - The company has not disclosed any significant differences in governance practices compared to regulatory requirements[131] - The company has established internal controls that effectively ensure the reliability of financial reporting and information disclosure[162] - The company has confirmed that there are no violations of laws or regulations by its controlling shareholders[200] Shareholder Commitments - The controlling shareholders, Qin Qingping and Wang Yongmei, committed to not reducing their shareholding by more than 25% of their total shares held in any given year after the lock-up period ends[185] - The shareholders will notify the company three trading days prior to any planned share reduction, ensuring transparency in their actions[186] - The commitments are designed to ensure that the company maintains its competitive edge and operational integrity in the market[187] Future Outlook - The company expects to achieve a sales revenue of 1,784,203.32 million yuan and a net profit attributable to the listed company of 55,086.88 million yuan in 2023[124] - The financial outlook remains positive, with expectations of continued growth driven by market demand and strategic initiatives[138]

Group 1: Event Announcement - Jineng Technology Co., Ltd. will participate in the "2022 Annual Investor Online Collective Reception Day" organized by the Shandong Securities Regulatory Bureau [2] - The event will be held on November 16, 2022, from 14:00 to 16:00 [2] - Investors can participate through the "Panjing Network" platform [2] Group 2: Company Representatives - Ms. Wang Zhongxia, the Secretary of the Board and Chief Financial Officer, will attend the online event [2] - The company encourages investors to actively participate in the online communication [2] Group 3: Responsibility Statement - The Board of Directors guarantees that the announcement content is free from false records, misleading statements, or significant omissions [2] - The Board assumes individual and joint responsibility for the truthfulness, accuracy, and completeness of the content [2]

2022 年第三季度报告 单位：元 币种：人民币 1 / 13 证券代码：603113 证券简称：金能科技 金能科技股份有限公司 2022 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法律责任。 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 信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 本报告期 年初至报告期 | --- | --- | --- | --- | --- | |------------------------------------------------|------------------|------------------------------|-------------------|---------------------- ...

Financial Performance - The company's operating revenue for the first half of 2022 reached ¥8,825,222,111.50, representing a 69.33% increase compared to ¥5,211,961,457.94 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was ¥174,291,398.90, a decrease of 81.11% from ¥922,669,088.38 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was ¥69,409,822.39, down 92.01% from ¥868,613,412.45 in the same period last year[21]. - Basic earnings per share for the reporting period were ¥0.20, down 81.48% from ¥1.08 in the same period last year[21]. - The diluted earnings per share were ¥0.21, a decrease of 78.79% from ¥0.99 in the previous year[21]. - The weighted average return on net assets was 1.97%, a decrease of 8.86 percentage points from 10.83% in the previous year[21]. - The company achieved operating revenue of CNY 8.83 billion, a year-on-year increase of 69.33%, while net profit attributable to shareholders decreased by 81.11% to CNY 174 million[54]. - Operating costs rose by 108.93% to CNY 8.28 billion, primarily due to increased costs from new products and rising prices of raw materials[54]. - Research and development expenses surged by 376.45% to CNY 174.92 million, reflecting increased investment in R&D projects[54]. - The company reported a total comprehensive income of ¥174,291,398.90 for the first half of 2022, compared to ¥922,663,689.88 in the first half of 2021, reflecting a decrease of approximately 81.1%[164]. Assets and Liabilities - The total assets of the company at the end of the reporting period were ¥15,228,245,725.99, an increase of 16.04% from ¥13,122,752,671.39 at the end of the previous year[21]. - The net assets attributable to shareholders of the listed company were ¥8,925,244,221.54, reflecting a 1.97% increase from ¥8,753,198,990.99 at the end of the previous year[21]. - The company's total liabilities increased significantly, with accounts payable rising by 39.55% to CNY 1.98 billion, indicating higher raw material payables[57]. - Total liabilities reached ¥6,303,001,504.45, up from ¥4,369,553,680.40, marking an increase of around 43.41%[152]. - Current liabilities rose to ¥5,077,381,129.26 from ¥3,292,145,937.55, reflecting a significant increase of approximately 54.29%[150]. Cash Flow - The net cash flow from operating activities was ¥1,412,085,477.67, showing an increase of 8.03% compared to ¥1,307,116,411.23 in the previous year[21]. - The company reported a significant increase in cash and cash equivalents, reaching CNY 1.55 billion, up 63.45% from the previous year[57]. - The net cash flow from financing activities was -303,753,506.54 CNY, compared to 15,301,628.57 CNY in the previous period, indicating a significant decline[173]. - Cash inflow from operating activities totaled 5,048,812,673.14 CNY, an increase from 4,053,799,628.88 CNY year-over-year, reflecting a growth of approximately 24.6%[173]. Investments and Projects - The company is constructing a new project with a capacity of 900,000 tons/year for propane dehydrogenation and 450,000 tons/year for high-performance polypropylene, expected to commence production in Q4 2023[32]. - The company is actively investing in several projects, including a propane dehydrogenation project with an investment of CNY 516.94 million, and a high-performance polypropylene project with an investment of CNY 181.31 million[61]. - The company has completed the first phase of its offshore photovoltaic project with a capacity of 129.7 MW, integrating smart fishing systems with renewable energy[51]. Market and Industry Position - The company is the largest producer of potassium sorbate in China, benefiting from high industry concentration and stable demand due to stringent food safety standards[41]. - The company operates the world's largest single-unit PDH facility, significantly impacting the market with the highest propylene output in northern China[39]. - The demand for carbon black is expected to increase steadily, driven by the growth in the automotive industry, with over 70% of carbon black used in tires[38]. Environmental and Regulatory Compliance - The company is subject to environmental regulations and has reported compliance with pollution discharge standards across various facilities[73]. - The company has implemented a stable operation of pollution control facilities, ensuring that pollutant emissions consistently meet standards[75]. - The company has established emergency response plans for environmental incidents, with regular training and drills conducted for employees[79][80]. - The company has committed to fulfilling various promises related to shareholding and competition resolution, with all commitments being timely and strictly adhered to[89]. Shareholder Commitments and Governance - The company reported a commitment from controlling shareholders to limit stock sales to no more than 25% of their total holdings annually for two years after the lock-up period ends[1]. - The controlling shareholders have pledged not to engage in any competitive business activities that could harm the company's interests[4]. - The company has established guidelines to ensure fair and reasonable pricing in any unavoidable related transactions[5]. - The company has not experienced any significant changes in the integrity status of its controlling shareholders or actual controllers during the reporting period[103]. Financial Instruments and Stock Information - The company issued a total of 47,735,626 shares through convertible bonds during the reporting period[117]. - The company issued 15 million convertible bonds with a total fundraising amount of RMB 1,500,000,000, netting RMB 1,486,312,264 after deducting issuance costs[130]. - The total number of shares after the recent changes is 855,081,125, with 723,665,890 shares being unrestricted, accounting for 84.63% of the total[114].

Financial Performance - The company's operating revenue for Q1 2022 was ¥4,518,480,229.84, representing a year-on-year increase of 75.55%[6] - The net profit attributable to shareholders was ¥124,132,088.74, showing a decrease of 73.88% compared to the same period last year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥96,644,480.35, down 78.22% year-on-year[6] - Basic earnings per share were ¥0.15, a decrease of 73.21% year-on-year[6] - Diluted earnings per share were ¥0.13, down 74.00% compared to the same period last year[6] - The net profit for Q1 2022 was CNY 124,132,088.74, a decrease of 73.8% compared to CNY 475,230,037.48 in Q1 2021[30] - The total profit for Q1 2022 was CNY 150,766,599.15, down from CNY 561,352,529.35 in Q1 2021, reflecting a decline of 73.2%[30] - The total comprehensive income for Q1 2022 was CNY 124,132,088.74, consistent with the net profit figure[32] Revenue and Costs - The total operating revenue for Q1 2022 was CNY 4,518,480,229.84, a significant increase from CNY 2,573,913,177.40 in Q1 2021, representing a growth of approximately 75.5%[26] - The total operating costs for Q1 2022 amounted to CNY 4,426,130,450.40, compared to CNY 2,043,681,676.91 in Q1 2021, reflecting an increase of about 116.5%[26] - The increase in operating revenue was primarily driven by the launch of the Jineng Chemical project, which contributed additional product revenue[12] Cash Flow and Investments - The net cash flow from operating activities was ¥919,460,157.15, an increase of 48.82% compared to the previous year[6] - The net cash flow from operating activities increased to CNY 919,460,157.15, compared to CNY 617,816,604.46 in Q1 2021, representing a growth of 48.8%[35] - The company reported a cash inflow from investment activities of CNY 1,039,192,807.00, while cash outflow was CNY 1,918,033,875.94, resulting in a net cash flow from investment activities of CNY -878,841,068.94[35] Assets and Liabilities - The total assets at the end of the reporting period were ¥14,453,414,827.11, an increase of 10.14% from the end of the previous year[6] - The total current assets as of March 31, 2022, were CNY 6,192,734,789.23, compared to CNY 5,060,463,800.73 at the end of 2021, showing an increase of about 22.3%[22] - The total liabilities as of March 31, 2022, were CNY 5,575,545,438.41, up from CNY 4,369,553,680.40 in the previous year, representing an increase of approximately 27.6%[25] - The total assets as of March 31, 2022, reached CNY 14,453,414,827.11, compared to CNY 13,122,752,671.39 at the end of 2021, reflecting a growth of about 10.1%[27] Shareholder Equity - The equity attributable to shareholders was ¥8,877,869,388.70, reflecting a 1.42% increase from the end of the previous year[6] - The company’s equity attributable to shareholders increased to CNY 8,877,869,388.70 as of March 31, 2022, from CNY 8,753,198,990.99 in the previous year, reflecting a growth of approximately 1.4%[27] Research and Development - Research and development expenses in Q1 2022 were CNY 98,665,981.60, up from CNY 17,850,137.34 in Q1 2021, indicating a growth of approximately 438.5%[26] Employee Compensation - The company reported a decrease in employee compensation liabilities from CNY 68,498,271.94 in Q1 2021 to CNY 55,520,366.09 in Q1 2022, a reduction of about 19%[25] Cash and Cash Equivalents - The cash and cash equivalents as of March 31, 2022, were CNY 1,612,604,432.79, compared to CNY 945,928,242.16 in the previous year, indicating an increase of approximately 70.6%[22] - The cash and cash equivalents at the end of Q1 2022 amounted to CNY 1,465,827,845.10, compared to CNY 573,694,858.56 at the end of Q1 2021, indicating a significant increase[35] Non-Recurring Gains - The company reported non-recurring gains of ¥13,109,230.86 from government subsidies closely related to normal business operations[10] Other Comprehensive Income - The company experienced a decrease in other comprehensive income, with a net amount of CNY 3,882.64 reported[30]

Financial Performance - The net profit attributable to shareholders for 2021 was CNY 934,731,956.38, with the parent company achieving a net profit of CNY 1,044,432,902.83[6]. - The company's operating revenue for 2021 was CNY 7,545,081,311.50, representing a year-on-year increase of 58.73%[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 786,746,551.16, reflecting a 1.36% increase compared to the previous year[24]. - Basic earnings per share decreased by 13.28% to CNY 1.11 compared to the previous year[25]. - Diluted earnings per share decreased by 5.61% to CNY 1.01 compared to the previous year[28]. - Net profit attributable to shareholders increased by 5.12% year-on-year, driven by improved profitability of main products[28]. - The company achieved operating revenue of 11.98 billion RMB, an increase of 58.73% year-on-year[58]. - Net profit attributable to shareholders was 935 million RMB, up 5.12% compared to the previous year[58]. - The net profit after deducting non-recurring gains and losses was 797 million RMB, reflecting a year-on-year increase of 1.36%[58]. Cash Flow and Assets - The net cash flow from operating activities was CNY 1,323,346,928.10, which decreased by 37.84% year-on-year[24]. - The total assets at the end of 2021 were CNY 12,065,476,567.58, an increase of 8.76% compared to the end of 2020[24]. - The net assets attributable to shareholders at the end of 2021 were CNY 8,058,904,738.68, up by 8.62% from the previous year[24]. - The net cash flow from operating activities was negative in the third and fourth quarters, with CNY -251.70 million and CNY -232.86 million, respectively[29]. - Cash and cash equivalents at the end of the period reached ¥945,928,242.16, a 196.09% increase year-on-year[83]. - Short-term borrowings increased by 121.30% year-on-year, totaling ¥1,337,270,219.91[83]. Dividends and Shareholder Returns - The proposed cash dividend for 2021 is CNY 3.50 per 10 shares, amounting to a distribution of at least 15% of the distributable profit[6]. - The company plans to continue focusing on sustainable development and shareholder returns in future strategies[6]. Revenue and Cost Analysis - Main business revenue reached 10.46 billion RMB, a growth of 66.70% year-on-year, while main business costs increased by 79.34% to 8.85 billion RMB[60]. - The revenue from carbon black products reached ¥2.99 billion, with a significant year-over-year increase of 89.64% and a gross margin of 16.22%, which improved by 2.22 percentage points[64]. - The company experienced a decrease in gross margins across major products due to rising raw material costs[64]. - The average price of coal increased by 63.91% year-on-year, impacting the cost of goods sold[127]. - The company reported a decrease in electricity prices by 4.28%, which contributed to a reduction in operating costs[128]. Research and Development - Research and development expenses surged by 176.66% to 162 million RMB, indicating a significant investment in innovation[59]. - Total R&D investment amounted to ¥439,230,065.78, representing 3.67% of operating revenue[76]. - The number of R&D personnel is 545, accounting for 18.72% of the total workforce[79]. - The company is focusing on technological innovation, with several new projects in the pipeline aimed at enhancing operational efficiency[161]. Market Position and Strategy - The company is actively exploring new energy and new material industries to ensure sustainable development in response to global industrial changes[38]. - The company is strategically located in Shandong, the largest tire production base in China, facilitating sales and distribution[55]. - The company has established a unique circular economy model, enhancing its competitive edge in the industry[55]. - The company aims to focus on a circular economy strategy, optimizing the industrial chain and promoting green low-carbon development[141]. Risks and Challenges - The company has outlined significant risk factors that may impact future development in the management discussion section[11]. - Market competition in the chemical industry is intensifying, and the company must leverage its advantages to maintain performance amid potential demand slowdowns[144]. - Fluctuations in the prices of key raw materials and products, such as propane, propylene, and coal, significantly impact the company's operating performance and profit margins[146]. - The company faces risks from changes in industrial policies, which could lead to penalties or disruptions in production if regulations are not adhered to[143]. Governance and Management - The company has a governance structure in place that complies with relevant regulations, ensuring independence in its operations[149]. - The board of directors and senior management have seen changes in shareholdings, with some members reducing their stakes during the reporting period[155]. - The company has established specialized committees, including an audit committee and a nomination committee, to enhance governance[180]. - The company appointed a new Chief Financial Officer, Wang Zhongxia, to meet operational needs[173]. Future Outlook - The company expects to achieve a sales revenue of 18.408 billion yuan and a net profit attributable to the listed company of 1.025 billion yuan in 2022[142]. - Future guidance indicates a projected revenue growth of 10% for the upcoming fiscal year[160]. - New product launches are expected to contribute an additional 15% to overall revenue in the next quarter[160].