Financial Performance - The company's operating revenue for Q3 2021 was ¥437,165,836.21, representing a year-on-year increase of 31.26%[5] - The net profit attributable to shareholders for Q3 2021 was ¥72,279,475.92, showing a significant increase of 103.82% compared to the same period last year[5] - The net profit after deducting non-recurring gains and losses for Q3 2021 was ¥68,570,103.10, an increase of 127.27% year-on-year[5] - The basic earnings per share for Q3 2021 was ¥0.35, up by 105.88% compared to the same quarter last year[6] - The company reported a year-to-date net profit attributable to shareholders of ¥158,967,856.06, which is a 74.94% increase compared to the same period last year[5] - Total operating revenue for the first three quarters of 2021 reached ¥1,213,892,116.92, a significant increase of 39.1% compared to ¥872,315,495.36 in the same period of 2020[21] - Operating profit for the first three quarters of 2021 was ¥184,749,391.94, up 78.5% from ¥103,451,883.29 in the previous year[22] - Net profit attributable to shareholders of the parent company for the first three quarters of 2021 was ¥158,967,856.06, representing a 75.0% increase from ¥90,869,885.92 in 2020[22] - Basic and diluted earnings per share for the first three quarters of 2021 were both ¥0.76, compared to ¥0.44 in the same period of 2020[23] - The company reported a total comprehensive income of ¥159,371,288.66 for the first three quarters of 2021, compared to ¥90,149,072.05 in the previous year[23] Cash Flow - The cash flow from operating activities for the year-to-date period reached ¥133,655,734.21, reflecting a substantial increase of 397.77%[6] - The net cash flow from operating activities for Q3 2021 was $133,655,734.21, a significant increase from $26,850,991.22 in Q3 2020, representing a growth of approximately 397%[26] - Cash generated from operating activities for the first three quarters of 2021 was ¥860,202,155.31, an increase from ¥648,445,405.65 in the same period of 2020[25] - The cash outflow for operating activities was $746,827,919.37, an increase from $667,553,646.65 in the previous year, representing a rise of approximately 11.9%[26] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,651,785,197.86, a slight increase of 1.24% from the end of the previous year[6] - The total assets as of September 30, 2021, amounted to ¥1,651,785,197.86, an increase from ¥1,631,594,958.87 at the end of 2020[16] - Current assets totaled ¥1,114,143,575.12, slightly down from ¥1,147,872,054.18 in the previous year[16] - Non-current assets totaled ¥537,641,622.74, up from ¥483,722,904.69, reflecting a growth of approximately 11.1%[17] - Total liabilities as of the end of the third quarter of 2021 amounted to ¥401,518,246.32, an increase from ¥384,699,295.99 at the end of 2020[22] - Total equity attributable to shareholders of the parent company was ¥1,237,207,237.23, slightly up from ¥1,234,905,930.98 in the previous year[22] Investments and Financing - Total cash inflow from investment activities decreased to $347,725,887.17 from $1,253,759,491.23 year-over-year, indicating a decline of about 72.2%[26] - The net cash flow from investment activities was negative at -$33,494,292.17, compared to -$72,116,618.65 in the same quarter last year, showing an improvement of approximately 53.6%[26] - Cash inflow from financing activities totaled $20,000,000.00, up from $10,000,000.00 in Q3 2020, marking a 100% increase[27] - The net cash flow from financing activities was -$167,266,879.25, compared to -$157,278,691.68 in the previous year, reflecting a decline of about 6.4%[27] Shareholder Information - The company reported a total of 12,256 common shareholders at the end of the reporting period[13] Research and Development - Research and development expenses for the first three quarters of 2021 totaled ¥73,309,699.36, compared to ¥57,279,654.67 in 2020, indicating a focus on innovation[21] Other Financial Metrics - The weighted average return on equity for Q3 2021 was 6.02%, an increase of 3.03 percentage points year-on-year[6] - The company attributed the revenue growth to increased production and sales scale driven by strong market demand[10] - The net profit growth was primarily due to rising sales prices and increased gross profit margins[10] - Deferred income increased to ¥32,572,279.73 from ¥29,252,842.05 year-over-year, reflecting growth in future revenue recognition[22] - Accounts receivable increased to ¥369,821,326.60 from ¥310,256,705.31, indicating a growth of approximately 19.2%[16] - Inventory decreased to ¥103,887,532.62 from ¥108,592,022.53, a decline of about 4.1%[16] - Fixed assets increased to ¥442,249,762.91 from ¥384,934,237.09, showing a growth of about 14.9%[17] - Short-term borrowings rose to ¥20,000,000.00 from ¥10,015,950.00, indicating a 99.0% increase[17] - Accounts payable increased to ¥281,970,351.94 from ¥251,807,512.18, reflecting an increase of approximately 12.0%[17]

Financial Performance - The company's operating revenue for the first half of 2021 was approximately RMB 776.73 million, an increase of 44.04% compared to RMB 539.26 million in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2021 was approximately RMB 86.69 million, representing a year-on-year growth of 56.46% from RMB 55.41 million[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately RMB 80.84 million, a significant increase of 105.19% compared to RMB 39.40 million in the previous year[19]. - The net cash flow from operating activities increased by 703.71% to approximately RMB 70.46 million, up from RMB 8.77 million in the same period last year[19]. - The basic and diluted earnings per share for the first half of 2021 were both RMB 0.4168, reflecting a growth of 56.46% year-on-year[18]. - The weighted average return on equity increased to 7.07%, up by 2.63 percentage points from 4.44% in the previous year[18]. - The total assets at the end of the reporting period were approximately RMB 1.55 billion, a decrease of 4.93% from the previous year[19]. - The net assets attributable to shareholders at the end of the reporting period were approximately RMB 1.17 billion, down by 5.66% from the previous year[19]. Research and Development - The company has established partnerships with several prestigious universities to enhance its R&D capabilities, contributing to innovation and product development[26]. - The company has successfully developed new products such as the FT series ultra-high capacitance low-voltage electrode foil and the HD series high-voltage electrode foil, which are key to increasing market share[27]. - The company filed 28 patents in the first half of the year, including 8 invention patents, enhancing its intellectual property portfolio[33]. - The company’s research and development expenses increased by 13.10% to 44.67 million RMB, reflecting its commitment to innovation[37]. Market Position and Strategy - The main business involves the research, production, and sales of aluminum electrolytic capacitor electrode foils, which are critical raw materials for high-performance capacitors[24]. - The electrode foil typically accounts for 30% to 60% of the total cost of aluminum electrolytic capacitors, indicating a strong correlation between capacitor demand and electrode foil demand[25]. - The company has a comprehensive sales service network, with domestic clients located in various regions and international clients in Japan, Southeast Asia, Europe, and South America[28]. - The company has a strong customer base, including leading capacitor manufacturers like Chemicon and Nichicon, which enhances its market position[29]. - The electrode foil industry is supported by national strategies such as the "14th Five-Year Plan" and "New Infrastructure," driving demand growth[25]. - The company is actively preparing for a non-public offering to meet the growing demand in high-end markets and emerging applications[34]. Environmental Compliance - Environmental compliance is a priority, with the company’s subsidiaries meeting pollution discharge standards for key pollutants, reflecting its commitment to sustainable practices[56]. - The company reported a total wastewater discharge of 983,219 tons in the first half of 2021, with specific pollutants like COD and NH3-N being monitored to ensure compliance with environmental regulations[57]. - The average concentration of COD in wastewater was 65.24 mg/L, significantly below the limit of 500 mg/L[59]. - The company has invested over ten million yuan in upgrading its wastewater treatment system in the first half of 2021 to enhance treatment quality[67]. - The company has achieved a "green" environmental credit rating in Jiangsu province as of 2021[65]. - The company promotes resource recycling and has made significant progress in water conservation through process optimization and membrane separation technology[69]. Corporate Governance - The company did not distribute profits or increase capital reserves during the reporting period[4]. - The company emphasizes that future plans and strategic developments mentioned in the report do not constitute a substantive commitment to investors[5]. - The company has undergone a board restructuring, electing new members and appointing a new general manager, which may influence its strategic direction and operational efficiency[52]. - The company has not proposed any profit distribution or capital reserve transfer plans for the first half of 2021, indicating a focus on reinvestment or financial stability[54]. Financial Position - The company's total assets at the end of the first half of 2021 were CNY 1,190,839,760.04[131]. - The company's total liabilities at the end of the first half of 2021 were CNY 198,426,000.00[131]. - The company's total equity at the end of the reporting period was CNY 834,412,795.02, a decrease from CNY 974,123,111.13 at the beginning of the year, reflecting a reduction of approximately 14.3%[138]. - The company reported a comprehensive income total of CNY 16,289,683.89 for the current period, indicating a positive performance despite the overall decrease in equity[137]. Risk Factors - The company's performance is closely tied to macroeconomic conditions and national industrial policies, with potential risks arising from economic downturns or unfavorable policy changes that could impact market demand[47]. - The ongoing COVID-19 pandemic poses a market downturn risk, with potential indirect effects on the company due to disruptions in the upstream and downstream supply chains, despite a low direct export ratio[49]. - The main raw material for the company's products is electronic light foil, and fluctuations in raw material and energy prices could impact the company's performance despite efforts to mitigate these risks through flexible pricing strategies and improved production processes[46]. Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders was 13,878[89]. - The largest shareholder, Nantong Xinhai Star Investment Co., Ltd., held 141,180,000 shares, representing 67.88% of the total shares[92]. - Nantong Lianli Investment Management Co., Ltd. was the second-largest shareholder with 14,820,000 shares, accounting for 7.13%[92]. - The first ten shareholders collectively hold significant stakes, with Nantong Xinhai Star Investment Co., Ltd. and Nantong Lianli Investment Management Co., Ltd. being the primary contributors[92].

Financial Performance - Operating revenue for the current period was CNY 346,928,296.20, an increase of 49.98% year-on-year, primarily due to increased sales from expanded production capacity[7] - Net profit attributable to shareholders of the listed company was CNY 30,265,574.47, representing a year-on-year increase of 21.03%[6] - Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was CNY 27,812,576.33, an increase of 80.88% year-on-year, driven by increased sales scale[7] - Basic and diluted earnings per share were both CNY 0.15, reflecting a growth of 25.00% compared to the previous year[6] - The weighted average return on net assets increased by 0.47 percentage points to 2.42%[6] - Total operating revenue for Q1 2021 was CNY 346,928,296.20, an increase of 50% compared to CNY 231,320,777.32 in Q1 2020[28] - Net profit for Q1 2021 was CNY 30,635,225.20, compared to CNY 14,247,818.73 in Q1 2020, representing a growth of 115%[28] - The total profit for Q1 2021 was CNY 34,197,076.45, compared to CNY 28,651,351.11 in Q1 2020, marking a 19.0% increase[29] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,629,746,361.53, a decrease of 0.11% compared to the end of the previous year[6] - Total assets as of March 31, 2021, amounted to CNY 1,321,733,217.21, slightly down from CNY 1,330,990,273.74 at the end of 2020[24] - Total liabilities decreased to CNY 317,232,323.95 in Q1 2021 from CNY 338,577,538.63 in Q1 2020[25] - Shareholders' equity increased to CNY 1,004,500,893.26 in Q1 2021 from CNY 992,412,735.11 in Q1 2020[25] Cash Flow - Cash flow from operating activities was CNY 26,941,824.07, a decrease of 18.75% compared to the same period last year[6] - Net cash flow from operating activities decreased by 18.75% to RMB 26,941,824.07, mainly due to a reduction in government subsidies received[15] - In Q1 2021, the net cash flow from operating activities was -28,168,385.85 RMB, compared to -17,840,382.86 RMB in Q1 2020, indicating a decline in operational cash flow[35] - Total cash inflow from operating activities was 199,478,750.93 RMB, significantly higher than 121,348,617.60 RMB in Q1 2020, demonstrating improved sales performance[35] - Cash outflow for operating activities totaled 227,647,136.78 RMB, up from 139,189,000.46 RMB in the same period last year, reflecting increased operational costs[35] Shareholder Information - The company had a total of 14,892 shareholders at the end of the reporting period[10] - The top shareholder, Nantong Xinhaixing Investment Co., Ltd., held 67.88% of the shares[10] Operating Costs and Expenses - Operating costs increased by 51.25% to RMB 266,304,077.75, attributed to higher sales leading to corresponding cost increases[14] - Financial expenses showed a significant decline of 118.09%, resulting in a loss of RMB 315,633.17, due to reduced interest income and increased exchange losses[14] - Investment income dropped by 85.75% to RMB 440,423.51, primarily due to decreased financial investment returns[14] - Employee compensation payable decreased by 33.14% to RMB 14,477,401.00, mainly due to a reduction in year-end bonuses[12] Other Financial Metrics - Cash inflows from operating activities amounted to CNY 282,629,311.15 in Q1 2021, up from CNY 238,762,218.55 in Q1 2020, indicating improved cash generation[33] - The company reported a gross profit margin of approximately 14.4% for Q1 2021, compared to 15.0% in Q1 2020, reflecting changes in cost structure[31] - The total comprehensive income for Q1 2021 was CNY 30,732,080.65, compared to CNY 26,685,921.16 in Q1 2020, showing overall growth[30]

Financial Performance - The company's operating revenue for 2020 was RMB 1,218,716,702.66, representing an increase of 11.05% compared to RMB 1,097,491,329.87 in 2019[21] - The net profit attributable to shareholders of the listed company was RMB 125,768,458.08, a 4.45% increase from RMB 120,406,127.59 in the previous year[21] - The net cash flow from operating activities decreased by 64.14% to RMB 33,076,038.59 from RMB 92,238,763.55 in 2019[21] - The total assets at the end of 2020 were RMB 1,631,594,958.87, showing a 2.01% increase from RMB 1,599,501,399.64 at the end of 2019[22] - The net assets attributable to shareholders of the listed company decreased by 2.77% to RMB 1,234,905,930.98 from RMB 1,270,133,766.66 in 2019[22] - Basic earnings per share for 2020 were RMB 0.60, down 13.04% from RMB 0.69 in 2019[23] - The weighted average return on equity decreased to 10.26% from 13.31% in the previous year, a decline of 3.05 percentage points[23] - The company achieved operating revenue of CNY 1,218,716,702.66, representing a year-on-year growth of 11.05%[43] - The net profit attributable to shareholders increased by 4.45%, reaching CNY 12,576,850[43] - The production and sales volume of capacitor foil exceeded 24 million m², marking a historical high with a growth of 16.76% year-on-year[40] Cash Flow and Investments - The net cash flow from operating activities decreased by CNY 59.1627 million in 2020 compared to 2019, a decline of 64.14%, primarily due to an increase in the proportion of bill settlements by customers[24] - The net cash flow from investing activities decreased by ¥29,584.44 million, attributed to reduced investments in financial products and an increase in fixed asset investments by ¥10,022.61 million[59] - Cash and cash equivalents decreased by 32.08% to ¥343.12 million, down from ¥505.17 million in the previous period[61] - The company received 1,401,000,000.00 RMB from investment recoveries, a substantial increase from 253,000,000.00 RMB in the previous year[187] - The cash inflow from sales of goods and services was 537,694,665.20 RMB, up from 471,970,993.91 RMB in 2019[190] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 7.5 per 10 shares, totaling RMB 156,000,000, which accounts for 124.04% of the net profit attributable to shareholders[5] - The company distributed cash dividends totaling 156 million RMB for the year 2019, which accounted for 129.56% of the net profit attributable to the parent company[81] - For the year 2020, the cash dividend distribution was 156 million RMB, representing 124.04% of the net profit attributable to the parent company[82] - The company has maintained a consistent cash dividend policy since its IPO, ensuring stable and transparent shareholder returns[81] Research and Development - Research and development expenses rose by 8.78% to CNY 78,860,330.96, reflecting the company's commitment to innovation[45] - Research and development expenses for 2020 were CNY 78,860,330.96, an increase of 8.83% from CNY 72,497,953.95 in 2019[179] - The company plans to strengthen talent development and innovation research to support annual goals, increasing R&D investment and efficiency to lead industry technological advancements[74] Market and Competitive Position - The company has identified potential risks in its future development, which are detailed in the report[6] - The company recognizes the risk of market competition, particularly from advanced manufacturers in the electrode foil industry, which could impact its competitive position[76] - The company faces risks related to fluctuations in raw material and energy prices, which could affect its performance despite efforts to mitigate these impacts[77] - The global aluminum electrolytic capacitor market is projected to grow from CNY 49.64 billion in 2019 to CNY 55.65 billion by 2024[35] Operational Efficiency - The company’s operating efficiency improved by 30% due to the introduction of advanced equipment and processes[40] - The company has implemented fundraising projects to increase production capacity, contributing to the revenue growth[23] - The company’s sales model involves direct sales to downstream customers, enhancing market responsiveness and customer satisfaction[32] - The company’s production model is based on order-driven production, ensuring timely delivery while effectively controlling inventory levels[31] Environmental and Social Responsibility - The environmental credit rating of the company was assessed as the highest level of green during the reporting period[107] - The company actively participated in public welfare activities, with 865 participants and 843 beneficiaries in 2020[107] - No environmental pollution incidents occurred during the reporting period, and the company adhered to all relevant environmental laws and regulations[117] Corporate Governance - The company has a long-term commitment to avoid engaging in similar business activities that compete with its existing products[84] - The company has committed to not seeking improper benefits through its controlling shareholder status, ensuring the protection of other shareholders' rights[87] - The company has established a plan to repurchase shares and distribute profits if the stock price falls below the audited net asset value per share[88] - The company has a diverse workforce, with 420 production personnel, 131 technical personnel, and 29 sales personnel among the total employees[142] Future Outlook - The company provided guidance for 2021, projecting revenue growth of 10% to 12%, aiming for a target of 1.65 billion to 1.68 billion[138] - New product launches are expected to contribute an additional 200 million in revenue in 2021, focusing on innovative technology solutions[136] - The company is expanding its market presence, targeting new regions in Asia, which is projected to increase market share by 5%[137] - A strategic acquisition was announced, with the company acquiring a competitor for 300 million, expected to enhance product offerings and market reach[138]

Financial Performance - Operating revenue for the first nine months was CNY 872,315,495.36, an increase of 9.93% year-on-year[6] - Net profit attributable to shareholders of the listed company decreased by 7.52% to CNY 90,869,885.92[6] - Basic and diluted earnings per share were CNY 0.44, a decrease of 25.42% compared to the previous year[7] - The weighted average return on equity decreased by 4.22 percentage points to 7.41%[7] - Total operating revenue for Q3 2020 reached ¥333,057,979.68, a 23% increase from ¥270,748,325.94 in Q3 2019[28] - The company's net profit for the first three quarters of 2020 was not explicitly stated but can be inferred from the increase in retained earnings, which rose to ¥172,194,137.64 from ¥163,863,449.23[26] - Q3 2020 net profit was ¥35,639,718.49, up 26.5% from ¥28,235,752.70 in Q3 2019[30] - The company reported a total profit of CNY 149,426,351.98 for Q3 2020, compared to CNY 6,783,235.04 in Q3 2019[34] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,560,067,487.95, a decrease of 2.47% compared to the end of the previous year[6] - The total assets decreased to ¥1,560,067,487.95 from ¥1,599,501,399.64, indicating a reduction in overall asset value[20] - Total liabilities increased to ¥322,334,038.63 in Q3 2020 from ¥316,574,996.46 in Q3 2019, showing a growth of approximately 2.4%[26] - The company's equity attributable to shareholders decreased to ¥982,453,799.54 from ¥974,123,111.13 year-over-year, indicating a slight decline[26] - Total current assets amounted to RMB 912,070,015.43 as of December 31, 2019[48] - Long-term equity investments were reported at RMB 321,852,079.63, while fixed assets totaled RMB 49,197,038.81[49] Cash Flow - The net cash flow from operating activities for the first nine months was CNY 26,850,991.22, down 15.16% from the previous year[6] - Cash flow from investing activities was net outflow of ¥72,116,618.65, a decrease of 79.82% compared to a net outflow of ¥357,348,584.72 in the previous year[16] - Cash flow from financing activities turned negative at ¥-157,278,691.68, a decline of 146.73% from a positive inflow of ¥336,549,739.57 in the previous year, primarily due to the receipt of IPO funds in 2019[17] - Cash flow from operating activities showed a net increase of CNY 26,850,991.22, down from CNY 31,647,930.71 in the same period last year[39] - Investment activities resulted in a net cash outflow of CNY 72,116,618.65, compared to a larger outflow of CNY 357,348,584.72 in the previous year[39] - The company experienced a cash outflow of CNY 156,000,000.00 from financing activities, compared to an inflow of CNY 346,937,583.32 in the same period last year[41] Shareholder Information - The total number of shareholders at the end of the reporting period was 18,635[12] - The largest shareholder, Nantong Xinhaixing Investment Co., Ltd., held 141,180,000 shares, accounting for 67.88% of the total shares[12] Government Subsidies and Other Income - The company received government subsidies amounting to CNY 19,836,101.12 for the first nine months, which is closely related to its normal business operations[8] - The company reported a significant increase in cash received from investment income, rising to CNY 116,803,678.57 from CNY 3,417,800.00 in the previous year[41] - The company received CNY 12,232,591.36 in tax refunds, an increase from CNY 7,795,648.14 in the previous year[38] Changes in Financial Position - Cash and cash equivalents decreased by 31.03% to ¥348,436,307.09 from ¥505,173,259.83, primarily due to the use of raised funds for project investments[13] - Trading financial assets decreased by 33.28% to ¥158,000,000.00 from ¥236,828,127.31, mainly due to reduced purchases of financial products as funds were allocated to project investments[13] - Accounts receivable financing increased by 61.13% to ¥212,758,647.16 from ¥132,044,755.62, attributed to an increase in bank acceptance of payments[13] - Construction in progress surged by 335.46% to ¥73,728,914.57 from ¥16,931,159.45, driven by the construction of funded projects[13] - Long-term prepaid expenses rose by 129.60% to ¥4,163,407.29 from ¥1,813,333.32, mainly due to increased repairs on buildings and equipment[14] - The company reported a significant increase in other payables by 166.83% to ¥2,069,418.71 from ¥775,544.60, mainly due to accrued sales commissions[14] Research and Development - R&D expenses in Q3 2020 totaled ¥17,780,844.53, a 46.5% increase compared to ¥12,139,347.08 in Q3 2019[29]

Financial Performance - The company's operating revenue for the first half of 2020 was approximately ¥539.26 million, representing a 3.15% increase compared to ¥522.77 million in the same period last year[18]. - The net profit attributable to shareholders decreased by 22.06% to approximately ¥55.41 million, down from ¥71.09 million in the previous year[18]. - The net cash flow from operating activities fell by 66.75% to approximately ¥8.77 million, compared to ¥26.37 million in the same period last year[18]. - Basic and diluted earnings per share decreased by 41.30% to ¥0.27, down from ¥0.46 in the previous year[19]. - The weighted average return on net assets decreased by 5.05 percentage points to 4.44% from 9.49% in the previous year[19]. - The net profit after deducting non-recurring gains and losses decreased by 35.53% to approximately ¥39.40 million, down from ¥61.10 million in the previous year[18]. - Operating costs increased by 10.00% to ¥415.13 million from ¥377.39 million year-on-year[38]. - The company reported a significant increase in deferred income to ¥31.28 million, primarily due to government subsidies related to assets[42]. - The company reported a decrease in undistributed profits to ¥456,931,412.73 from ¥557,523,982.47, a decline of about 18.1%[92]. - The company reported a comprehensive income of CNY 16,289,683.89 for the first half of 2020, indicating a positive performance despite the overall decline in equity[115]. Cash Flow and Investments - The net cash flow from investing activities fell by 193.4% to -¥84.82 million, mainly due to increased fixed asset investments and the purchase of financial products[39]. - The company's cash and cash equivalents at the end of the reporting period amounted to ¥432.05 million, accounting for 26.06% of total assets, an increase from 24.02% in the previous year[41]. - Cash inflow from investment activities reached CNY 700,781,063.92, significantly higher than CNY 202,561.33 in the previous year[103]. - The company reported a net cash flow from financing activities of CNY -879,006.14, a significant decrease from CNY -115,442,945.56 in the first half of 2019[103]. - The company received CNY 10,000,000.00 in cash from borrowings during the first half of 2020, down from CNY 30,000,000.00 in the same period of 2019[103]. Assets and Liabilities - The total assets of the company increased by 3.64% to approximately ¥1.66 billion, compared to ¥1.60 billion at the end of the previous year[18]. - The net assets attributable to shareholders decreased by 7.66% to approximately ¥1.17 billion, down from ¥1.27 billion at the end of the previous year[18]. - Total liabilities rose to ¥466,922,017.70, compared to ¥311,958,536.00, indicating a significant increase of about 49.7%[92]. - Current liabilities totaled ¥435,640,556.33, up from ¥265,001,688.63, reflecting a growth of approximately 64.4%[92]. - Owner's equity decreased to ¥1,190,839,760.04 from ¥1,287,542,863.64, a reduction of approximately 7.5%[92]. Research and Development - The company is focusing on R&D for high-end capacitors to meet the demands of 5G communication base stations and new energy vehicle charging piles[35]. - Research and development expenses rose by 23.73% to ¥39.50 million, driven by increased investment in new product development[39]. - The company is focused on maintaining its competitive edge through ongoing research and development in the aluminum electrolytic capacitor electrode foil sector[49]. Market and Competition - The company highlighted that the decline in net profit was primarily due to the impact of the COVID-19 pandemic and market expansion leading to decreased sales prices[20]. - The company has maintained a proactive approach to market share expansion despite a decline in sales prices due to increased competition and demand fluctuations[36]. - The company faces market competition risks in the electrode foil industry, which is characterized by intense competition from advanced manufacturers[48]. Environmental and Social Responsibility - The total amount of wastewater discharged by the company in the first half of 2020 was 1,010,947 tons, with a control target of 2,513,500 tons[68]. - The average concentration of COD in wastewater was 27.08 mg/L, well below the limit of 100 mg/L[68]. - The company has established complete environmental protection facilities, including wastewater treatment and air pollution control systems, which are operational and meet regulatory standards[70]. - The company has not experienced any environmental pollution incidents during the reporting period and has not received any environmental administrative penalties[74]. Corporate Governance - The company committed to not engage in any business that directly competes with its existing main products, both domestically and internationally[58]. - The company will not seek improper benefits through its position as a controlling shareholder, ensuring the rights of other shareholders are protected[58]. - The company appointed Tianjian Accounting Firm as the auditor for the year 2020, approved during the annual general meeting on May 15, 2020[59]. - There were no significant litigation or arbitration matters during the reporting period[60]. Accounting Policies and Compliance - The company has adopted the revised Accounting Standards for Revenue effective January 1, 2020[76]. - The financial statements comply with the enterprise accounting standards, accurately reflecting the company's financial position and operating results[123]. - The company recognizes revenue based on the transfer of control of goods or services to customers, either over time or at a point in time[186].

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].