Financial Performance - Operating revenue decreased by 7.82% to CNY 231,320,777.32 year-on-year[5] - Net profit attributable to shareholders decreased by 24.63% to CNY 25,007,218.03 compared to the same period last year[5] - Basic and diluted earnings per share decreased by 42.86% to CNY 0.12[5] - The weighted average return on equity decreased by 2.39 percentage points to 1.95%[5] - Total operating revenue for Q1 2020 was CNY 231,320,777.32, a decrease of 7.3% compared to CNY 250,936,939.14 in Q1 2019[26] - Operating profit for Q1 2020 was CNY 28,788,175.29, compared to CNY 39,092,463.38 in Q1 2019, indicating a decline of 26.4%[26] - Net profit for Q1 2020 was CNY 28,651,351.11, down from CNY 39,011,976.65 in Q1 2019, representing a decrease of 26.5%[26] Cash Flow - Cash flow from operating activities increased significantly by 727.06% to CNY 33,159,337.95[5] - Operating cash flow surged by 727.06% to ¥33,159,337.95 from ¥4,009,283.14, mainly due to government subsidies related to assets and reduced tax payments[14] - Cash flow from operating activities increased to ¥238,762,218.55 in Q1 2020, compared to ¥202,748,209.92 in Q1 2019, representing an increase of 17.7%[32] - The net cash flow from operating activities for Q1 2020 was -17,840,382.86 RMB, a decrease from 21,593,827.09 RMB in Q1 2019[37] - The company reported a total cash inflow from operating activities of 121,348,617.6 RMB in Q1 2020, an increase from 112,519,080.32 RMB in Q1 2019[37] Assets and Liabilities - Total assets increased by 1.48% to CNY 1,623,169,945.84 compared to the end of the previous year[5] - Total assets as of March 31, 2020, amounted to CNY 1,300,486,125.45, an increase from CNY 1,290,698,107.59 at the end of 2019[23] - Total liabilities as of March 31, 2020, were CNY 316,176,788.05, slightly down from CNY 316,574,996.46 at the end of 2019[23] - Shareholders' equity as of March 31, 2020, was CNY 984,309,337.40, up from CNY 974,123,111.13 at the end of 2019, reflecting an increase of 1.2%[23] Shareholder Information - The total number of shareholders reached 17,515 at the end of the reporting period[10] - The largest shareholder, Nantong Xinhaixing Investment Co., Ltd., holds 67.88% of the shares[10] Investment Activities - Investment cash flow decreased significantly by 1295.98% to -¥176,599,922.26 from -¥12,650,622.99, reflecting increased investments in financial products[14] - Total cash inflow from investment activities was 176,919,794.76 RMB, compared to 40,239,516.81 RMB in the same period last year[37] - The net cash flow from investment activities was -142,919,847.3 RMB, worsening from -1,602,164.85 RMB in Q1 2019[37] - Cash outflow for purchasing fixed assets and other long-term assets was 319,839,642.06 RMB in Q1 2020, compared to 41,841,681.66 RMB in Q1 2019[37] Other Financial Metrics - Non-recurring gains and losses totaled CNY 9,631,177.07, primarily from government subsidies and other income[9] - Financial expenses turned from a profit of ¥1,750,936.76 to a loss of ¥1,744,874.88, primarily due to exchange gains this period compared to losses in the same period last year[13] - The company reported a decrease in sales expenses to ¥4,375,467.78 in Q1 2020 from ¥6,081,548.46 in Q1 2019, a reduction of 28.0%[30] - Research and development expenses remained relatively stable at ¥6,493,540.47 in Q1 2020, compared to ¥6,559,469.14 in Q1 2019[30] - Other income decreased significantly to ¥2,629,573.33 in Q1 2020 from ¥7,135,195.00 in Q1 2019, a decline of 63.2%[30]

Financial Performance - In 2019, the company's operating revenue was approximately RMB 1.10 billion, a slight increase of 0.48% compared to RMB 1.09 billion in 2018[22]. - The net profit attributable to shareholders decreased by 19.43% to RMB 120.41 million from RMB 149.45 million in 2018[22]. - The net profit after deducting non-recurring gains and losses fell by 26.39% to RMB 100.92 million compared to RMB 137.10 million in the previous year[22]. - The net cash flow from operating activities decreased significantly by 51.46% to RMB 92.24 million from RMB 190.03 million in 2018[22]. - The company's total assets increased by 45.30% to approximately RMB 1.60 billion, up from RMB 1.10 billion in 2018[22]. - The net assets attributable to shareholders rose by 62.16% to RMB 1.27 billion from RMB 783.26 million in 2018[22]. - Basic earnings per share decreased by 28.13% to RMB 0.69 from RMB 0.96 in 2018[23]. - The weighted average return on equity dropped by 7.36 percentage points to 13.31% from 20.67% in the previous year[23]. - The company’s operating costs rose by 2.88% to CNY 809,157,356.46, primarily due to increased procurement costs of aluminum foil[48]. - The company reported a significant increase in annual revenue, reaching a total of $1.5 billion, representing a 15% year-over-year growth[137]. Cash Flow and Investments - The company's cash flow from operating activities decreased by 51.46% to CNY 92,238,763.55[47]. - The net cash flow from investing activities in 2019 decreased by 615.91% year-on-year, mainly due to unutilized funds from the IPO and increased investments in financial products[63]. - The net cash flow from financing activities increased by 572.26% in 2019 compared to 2018, primarily due to funds received from the IPO[63]. - The cash flow from operating activities showed a net increase of RMB 2,191,734.74 in 2019, a decline from RMB 86,311,737.52 in 2018, highlighting a challenging operational environment[193]. - Cash inflow from financing activities in 2019 was RMB 513,441,860.00, a substantial increase from RMB 57,500,000.00 in 2018[191]. Research and Development - The company invested CNY 72,497,953.95 in R&D, representing a 42.86% increase compared to the previous year[47]. - The total R&D expenditure for the year was ¥72,497,953.95, accounting for 6.60% of total revenue, with a year-on-year increase of 42.86%[61]. - The company successfully developed HV22 high-capacity high-voltage corrosion foil and solid-state anode foil, beginning small batch deliveries[44]. - Research and development expenses for 2019 amounted to CNY 27,132,610.82, up from CNY 24,794,606.62 in 2018, indicating a 9.4% increase[187]. Market and Sales Strategy - The company focuses on the research, production, and sales of aluminum electrolytic capacitor electrode foils, which are essential materials in capacitor manufacturing[33]. - The sales strategy involves direct sales to downstream customers through a self-built sales network, enhancing customer engagement and market responsiveness[37]. - The company aims to become an internationally leading reliable supplier of electrode foil products, providing technology-leading, stable quality, reasonably priced, and diverse electrode foil products to global aluminum electrolytic capacitor customers[73]. - The company is expanding its market presence in Southeast Asia, targeting a 25% increase in market share within the next two years[137]. Risk Management - The company has identified and detailed major operational risks in the report, urging investors to be cautious[7]. - The competitive landscape for the electrode foil industry is intensifying, with increased pressure from domestic and international market demands due to ongoing trade tensions[71]. - The company faces risks from market competition, particularly from advanced electrode foil manufacturers, which could impact its competitive position if it fails to upgrade its product technology and scale[75]. Corporate Governance - The company has established a commitment to follow the terms outlined in its IPO prospectus regarding share transfers during the lock-up period[83]. - The company has a plan to announce any share reduction intentions three trading days in advance[83]. - The company has maintained a consistent remuneration structure for its board members and executives[136]. - The company has a stable board composition with no changes in key positions during the reporting period[140]. Environmental and Social Responsibility - The company maintained a "green" environmental credit rating during the reporting period, reflecting its commitment to sustainable practices[111]. - The company actively engages in public welfare initiatives, combining employee donations with company funding to support impoverished students and elderly care[103]. - The company reported no environmental pollution incidents or violations of environmental laws during the reporting period[112]. Shareholder Information - The company plans to distribute a cash dividend of RMB 7.5 per 10 shares, totaling RMB 156 million, which accounts for 129.56% of the net profit attributable to shareholders[5]. - The company has a cash dividend policy aimed at maintaining stable and continuous shareholder returns, with a focus on transparency in dividend distribution decisions[80]. - The total number of ordinary shareholders at the end of the reporting period was 20,733, an increase from 17,515 at the end of the previous month[121].

Financial Performance - Operating revenue decreased by 2.16% to CNY 793,522,380.67 compared to the same period last year[8]. - Net profit attributable to shareholders decreased by 9.12% to CNY 98,258,788.24[8]. - Basic earnings per share fell by 14.49% to CNY 0.59[8]. - Weighted average return on net assets decreased by 3.65 percentage points to 11.63%[8]. - The company's total revenue for the first three quarters of 2019 was ¥793,522,380.67, a decrease of 2.2% compared to ¥811,052,684.36 in the same period of 2018[25]. - The net profit for the first three quarters of 2019 was not explicitly stated, but the retained earnings decreased to ¥67,340,095.43 from ¥137,971,967.54, indicating a decline of about 51%[25]. - The total profit for Q3 2019 was CNY 32,097,257.10, down from CNY 48,154,422.37 in Q3 2018, reflecting a decline of approximately 33.4%[27]. - The total profit for the first three quarters of 2019 was CNY 113,308,539.55, down from CNY 128,683,827.77 in the same period of 2018, reflecting a decline of approximately 12%[27]. - The company's total assets decreased from CNY 304,854.01 in the previous period to CNY 204,139.09 in Q3 2019, indicating a reduction of approximately 33%[27]. Asset and Equity Growth - Total assets increased by 39.65% year-on-year to CNY 1,537,366,020.81[7]. - Net assets attributable to shareholders rose by 59.53% year-on-year to CNY 1,249,557,248.31[7]. - The company's total assets reached CNY 1,537,366,020.81, up from CNY 1,100,843,742.47 at the end of 2018, indicating strong asset growth[20]. - The equity attributable to shareholders increased to CNY 1,249,557,248.31 from CNY 783,260,788.71, reflecting improved shareholder value[21]. - The total owner's equity rose to ¥863,056,259.36 from ¥464,168,131.47, marking an increase of about 86% year-over-year[25]. Cash Flow and Investment Activities - Net cash flow from operating activities dropped by 78.08% to CNY 31,647,930.71[7]. - Investment cash flow showed a significant outflow of CNY 357,348,584.72, an increase of 970.89% from CNY -33,369,385.33, mainly due to the use of idle funds for purchasing short-term financial products[17]. - Financing cash flow increased to CNY 336,549,739.57, a rise of 576.92% from CNY -70,567,918.29, attributed to the funds raised from the initial public offering[17]. - The company reported a net cash outflow from investing activities of CNY 357,348,584.72 for the first three quarters of 2019, compared to a net outflow of CNY 33,369,385.33 in 2018[36]. - The company raised CNY 529,360,000.00 from investment activities in 2019, significantly higher than CNY 37,500,000.00 in the previous year[36]. Shareholder Information - Total number of shareholders reached 22,035 at the end of the reporting period[12]. - The largest shareholder, Nantong Xinhai Investment Co., Ltd., holds 67.88% of shares[12]. Government Subsidies and Other Income - The company reported a government subsidy of CNY 16,169,269.38 for the year-to-date[10]. - Other income increased by 115.99%, reaching RMB 16.17 million from RMB 7.49 million, primarily driven by higher government subsidies received[16]. Liabilities and Financial Obligations - The company’s total liabilities decreased significantly, with accounts payable increasing by 33.11% to RMB 169.49 million from RMB 127.34 million, reflecting higher material payments[14]. - Total liabilities decreased to CNY 270,654,244.99 from CNY 299,981,201.53, showing a reduction in financial obligations[21]. - The total liabilities as of September 30, 2019, were ¥293,714,143.86, slightly up from ¥285,885,465.77, showing a marginal increase of about 1.5%[24]. Research and Development - Research and development expenses for the third quarter of 2019 were ¥12,139,347.08, a decrease from ¥44,062,336.78 in the same quarter of 2018, indicating a reduction of about 72.5%[26]. - The company's R&D expenses in Q3 2019 were CNY 6,249,332.89, up from CNY 5,627,806.31 in Q3 2018, marking an increase of about 11%[31].