Financial Performance - The company's operating revenue for the first half of 2022 was RMB 1,628,134,530.91, representing a year-on-year increase of 24.52% compared to RMB 1,307,492,635.88 in the same period last year[20]. - The net profit attributable to shareholders of the listed company decreased by 23.23% to RMB 42,830,074.19 from RMB 55,791,832.94 in the previous year[20]. - The basic earnings per share for the first half of 2022 was RMB 0.38, down 26.92% from RMB 0.52 in the same period last year[21]. - The company reported a decrease in net profit after deducting non-recurring gains and losses, which was RMB 41,772,998.34, down 21.88% from RMB 53,473,377.76 in the previous year[20]. - The total profit for the first half of 2022 was RMB 41,477,324.93, down from RMB 61,443,158.30 in the same period of 2021, representing a decline of 32.5%[118]. - The company reported a significant increase in sales expenses, which rose to RMB 9,668,452.16 from RMB 8,031,378.05 year-on-year, reflecting increased marketing efforts[117]. Cash Flow and Financial Position - The net cash flow from operating activities showed a significant decline of 183.25%, resulting in a negative cash flow of RMB -79,605,361.48, primarily due to increased raw material prices and procurement volume[20]. - The company's cash inflow from operating activities for the first half of 2022 was CNY 1,316,591,948.08, an increase of 39.1% compared to CNY 945,949,970.61 in the same period of 2021[124]. - The cash outflow from operating activities totaled CNY 1,396,197,309.56, up 64.4% from CNY 850,333,382.66 in the first half of 2021[124]. - The total assets at the end of the reporting period were RMB 2,690,147,321.26, reflecting a 4.92% increase from RMB 2,564,102,479.79 at the end of the previous year[21]. - The total current assets as of June 30, 2022, amounted to RMB 2,168,111,177.77, an increase from RMB 2,031,278,917.21 at the beginning of the period, reflecting a growth of approximately 6.73%[109]. - The total liabilities reached RMB 1,314,896,845.86, compared to RMB 1,197,578,990.00, marking an increase of 9.8%[111]. Research and Development - The company has invested over 3.5% of its revenue in R&D for the past three years, holding 41 valid invention patents and 30 pending applications[30]. - Research and development expenses increased by 6.02% to 49,763,602.45 RMB year-on-year[38]. - The company introduced 5 PhD-level talents to enhance its R&D capabilities, applying for 3 invention patents and obtaining 4 invention patents and 16 utility model patents in the first half of 2022[33]. Market and Industry Conditions - The polyurethane product gross margin has declined due to increased production costs and weakened market demand, with some products experiencing negative gross margins[27]. - The overall chemical industry environment is weakening, influenced by factors such as the pandemic and geopolitical tensions, affecting production costs and market demand[27]. - The company’s polyester polyol sales volume has slightly decreased compared to the previous year, reflecting the overall market impact on the polyurethane industry[29]. - The polyurethane industry is facing challenges due to rising raw material costs and reduced demand, necessitating efforts in energy conservation and efficiency improvement[27]. Environmental Compliance - The company has established a comprehensive management system to ensure safety and environmental compliance, achieving ISO certifications[31]. - The company is classified as a key pollutant discharge unit in Shanghai, with specific emissions data provided for wastewater and air pollutants[63]. - The company has implemented a clean production audit, resulting in reduced production waste and savings in electricity and gas, contributing to environmental benefits[66]. - The company has achieved a 100% compliance rate for environmental impact assessments for all existing construction projects[69]. Shareholder and Corporate Governance - The company did not propose any profit distribution plan or capital reserve transfer to increase share capital during this reporting period[5]. - The controlling shareholder expresses a long-term positive outlook on Huide Technology and its industry, indicating a potential stock reduction plan post-lockup period, with a maximum of 25% of shares held at IPO available for sale[83]. - There are no significant lawsuits or arbitration matters reported during the reporting period, indicating a stable legal standing[85]. - The company has not engaged in any non-operational fund occupation by controlling shareholders or related parties during the reporting period, reflecting financial integrity[84].

Financial Performance - The company's operating revenue for Q1 2022 was ¥820,921,015.08, representing a year-on-year increase of 52.07%[5] - The net profit attributable to shareholders of the listed company was ¥21,013,290.29, showing a decrease of 16.29% compared to the same period last year[5] - Basic and diluted earnings per share were both ¥0.20, down 16.67% from the previous year[6] - The weighted average return on equity was 1.53%, a decrease of 0.4 percentage points compared to the previous year[6] - Total revenue for Q1 2022 reached ¥820,921,015.08, a 52.1% increase from ¥539,819,426.50 in Q1 2021[20] - Net profit for Q1 2022 was ¥21,013,290.29, a decrease of 16.4% compared to ¥25,102,437.29 in Q1 2021[21] - The net profit for Q1 2022 was CNY 18,629,177.24, a decrease of 60.3% compared to CNY 46,926,653.51 in Q1 2021[29] - The basic earnings per share for Q1 2022 were CNY 0.17, down from CNY 0.44 in Q1 2021, a decrease of 61.4%[29] Cash Flow - The net cash flow from operating activities was -¥171,794,431.07, a decline of 176.26% year-on-year[5] - Cash flow from operating activities for Q1 2022 showed a net outflow of ¥171,794,431.07, compared to a net outflow of ¥62,186,094.72 in Q1 2021[23] - Cash flow from investing activities resulted in a net outflow of ¥16,967,422.41 in Q1 2022, compared to a net outflow of ¥40,266,497.39 in Q1 2021[24] - Cash flow from financing activities generated a net inflow of ¥24,681,077.77 in Q1 2022, contrasting with a net outflow of ¥54,991,217.16 in Q1 2021[24] - The company's cash and cash equivalents decreased to RMB 670,573,058.34 from RMB 808,107,581.47, reflecting a decline of approximately 17.1%[16] - The ending cash and cash equivalents balance for Q1 2022 was ¥211,241,294.60, down from ¥274,940,990.19 in Q1 2021[24] - The total cash and cash equivalents at the end of the period were $124.44 million, down from $243.26 million year-over-year[31] - The net cash flow from operating activities was -$139.51 million, compared to -$67.60 million in the previous year, indicating a decline in operational efficiency[31] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,645,200,070.07, an increase of 3.14% from the end of the previous year[6] - The equity attributable to shareholders of the listed company was ¥1,387,774,809.54, up 1.51% from the end of the previous year[6] - The company's total assets amounted to CNY 2,020,742,850.86, up from CNY 1,958,328,792.54 at the end of 2021[27] - The company's total liabilities rose to CNY 673,401,598.26, compared to CNY 629,124,545.22 at the end of 2021, an increase of 7.0%[27] - Total current liabilities rose to RMB 1,251,324,581.42, compared to RMB 1,191,289,180.17, indicating an increase of approximately 5.0%[18] Inventory and Receivables - Accounts receivable increased significantly to RMB 653,051,252.22, up from RMB 435,721,509.98, representing a growth of about 49.9%[16] - The company's inventory increased to CNY 201,972,313.30 from CNY 182,155,937.90 at the end of 2021, reflecting a growth of 10.0%[26] - The company has a total of RMB 352,572,208.94 in inventory as of March 31, 2022, compared to RMB 306,382,628.95 at the end of 2021, reflecting an increase of approximately 15.1%[16] Costs and Expenses - Total operating costs for Q1 2022 were ¥788,765,996.03, up 54.5% from ¥510,249,841.88 in Q1 2021[20] - Research and development expenses increased to ¥25,265,409.57 in Q1 2022, compared to ¥20,896,913.62 in Q1 2021, reflecting a growth of 20.5%[20] - Research and development expenses for Q1 2022 were CNY 17,143,843.77, up 17.5% from CNY 14,581,643.30 in Q1 2021[28] - The cash outflow for employee compensation was $44.74 million, up from $35.55 million, indicating increased labor costs[31] Government Support - The company received government subsidies amounting to ¥559,464.69, which were closely related to its normal business operations[7] Other Observations - The increase in operating revenue was primarily due to higher product prices and increased sales volume[10] - The decline in cash flow from operating activities was mainly due to rising raw material prices and increased procurement volume[10] - The company has not disclosed any new product developments or market expansion strategies in the provided documents[15] - The company experienced a foreign exchange impact of -$55,331.06 on cash and cash equivalents, indicating potential currency volatility effects[31]

Financial Performance - The company's operating revenue for 2021 was CNY 3,191,417,631.67, representing a 113.09% increase compared to CNY 1,497,717,810.42 in 2020[21]. - The net profit attributable to shareholders for 2021 was CNY 117,757,909.75, a decrease of 5.20% from CNY 124,220,223.59 in 2020[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 112,811,662.37, down 5.67% from CNY 119,591,342.26 in 2020[21]. - The net cash flow from operating activities increased by 58.79% to CNY 256,956,040.76 in 2021, compared to CNY 161,823,355.79 in 2020[21]. - The total assets at the end of 2021 were CNY 2,564,694,617.40, a 27.37% increase from CNY 2,013,587,523.71 at the end of 2020[21]. - The net assets attributable to shareholders increased by 5.88% to CNY 1,367,115,627.40 at the end of 2021, compared to CNY 1,291,238,911.78 at the end of 2020[21]. - Basic earnings per share decreased by 5.17% to 1.10 RMB per share compared to 2020[23]. - The weighted average return on equity fell to 8.87%, down 1.09 percentage points from the previous year[23]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of CNY 3.35 per 10 shares (including tax) and to increase capital by converting reserves, with a proposal to convert 3 shares for every 10 shares held[6]. - The total pre-tax remuneration for the board members and senior management in 2021 amounted to CNY 7.804 million, with no changes in shareholding for the year[113]. - The company has maintained a consistent shareholding structure, with 24 million shares held by a board member, showing no increase or decrease during the reporting period[113]. - The chairman and general manager, Qian Jianzhong, received a pre-tax remuneration of CNY 1.331 million for the year[113]. Operational Performance - The company achieved a total revenue of 3.191 billion RMB in 2021, representing a year-on-year growth of 113.09%[33]. - The company completed the technical transformation plan for the "annual production of 180,000 tons of polyurethane resin and its modified body project" and received approval for the project[33]. - The company maintained a stable operational performance with no safety production accidents reported[33]. - The company optimized its production and management model, transitioning to a unified sales approach through "Hui De Resin Sales Company"[33]. - The company achieved a revenue of CNY 3,191,417,631.67 in 2021, representing a year-on-year growth of 113.09%[48]. Research and Development - The company continued to invest in R&D, focusing on high-end customization and expanding product applications, including environmentally friendly solvent-free resins and various polyurethane materials for automotive and new energy applications[36][37]. - Research and development expenses accounted for over 3.5% of operating income for the past three years, with 14 invention patents applied for during the reporting period[45]. - The company has 108 R&D personnel, making up 14.77% of the total workforce[63]. - The company emphasizes the development of new products and technologies as a key to maintaining competitive advantage[65]. Environmental and Safety Compliance - The company emphasizes safety and environmental protection, achieving recognition as one of Shanghai's first green factories, and has implemented comprehensive safety and environmental training for employees[38]. - The company is classified as a key pollutant discharge unit, complying with local environmental standards for wastewater discharge[138]. - The company has implemented a strict internal control system, with no significant deficiencies reported during the evaluation period[133]. - The company has a wastewater treatment capacity of 200 tons per day, utilizing a chemical precipitation method combined with secondary deep treatment[141]. Market and Industry Trends - The polyurethane market demand and product prices showed significant growth in 2021, with upstream raw material prices rising sharply, impacting the sales prices of polyurethane products[41]. - The company is positioned to benefit from the rapid development of leather polyurethane in the automotive sector, particularly with the rise of new energy vehicles[42]. - The company anticipates that the "dual carbon" goals will create new opportunities and challenges for the fine chemical industry, pushing the market towards green, low-energy, and innovative enterprises[42]. Financial Management and Investments - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[8]. - The company has not recognized any impairment provisions for entrusted financial management or loans[180]. - The company has a total of 11,000,000 RMB in entrusted financial management, with no overdue amounts reported[176]. - The company has a structured salary system that includes performance-based pay, ensuring competitiveness and fairness in compensation[127]. Corporate Governance - The board of directors has emphasized the importance of risk awareness regarding future plans and uncertainties in the annual report[7]. - The company has established specialized committees, including the audit committee, nomination committee, compensation and assessment committee, and strategy committee[121]. - The management team has remained stable, with no changes in key positions during the reporting period[115]. - The company has not reported any objections from directors regarding company matters during the reporting period[121].

2021 年第三季度报告 证券代码：603192 证券简称：汇得科技 上海汇得科技股份有限公司 2021 年第三季度报告 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期 | 年初至报告期末 | 年初至报告期 | | --- | --- | --- | --- | --- | | | | 比上年同 | | 末比上年同期 | | | | 期增减变 | | 增减变动幅度 | | | | 动幅度(%) | | (%) | | 营业收入 | 961,284,033.80 | 107.13 | 2,268,776,669.68 | 140.58 | | 归属于上市公司股东的 | 34,668,113.30 | 21.40 | 90,425,452.77 | 28.70 | | 净利润 | | | | | | 归属于上市公司股东的 扣除非经常性损益的净 | 33,107,412.28 | 19.99 | 86,546,296.57 | 29.10 | | 利润 | | | | | 1 / 13 2021 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内 ...

上海汇得科技股份有限公司 2021 年第三季度报告 2021 年第三季度报告 证券代码：603192 证券简称：汇得科技 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期 | | 年初至报告期 | | --- | --- | --- | --- | --- | | | | 比上年同 | 年初至报告期末 | 末比上年同期 | | | | 期增减变 | | 增减变动幅度 | | | | 动幅度(%) | | (%) | | 营业收入 | 961,284,033.80 | 107.13 | 2,268,776,669.68 | 140.58 | | 归属于上市公司股东的 | 34,668,113.30 | 21.40 | 90,425,452.77 | 28.70 | | 净利润 | | | | | | 归属于上市公司股东的 扣除非经常性损益的净 | 33,107,412.28 | 19.99 | 86,546,296.57 | 29.10 | | 利润 | | | | | 1 / 13 2021 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内 ...

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥1,307,492,635.88, representing a year-on-year increase of 172.98%[22] - The net profit attributable to shareholders of the listed company was ¥55,757,339.48, up 33.70% compared to the same period last year[22] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 35.48% to ¥53,438,884.30[22] - Basic earnings per share for the first half of 2021 were ¥0.52, a 33.33% increase from ¥0.39 in the same period last year[23] - The weighted average return on net assets rose to 4.25%, an increase of 0.86 percentage points compared to the previous year[23] - The company's main business revenue reached 1,226.03 million yuan, a year-on-year increase of 171.98%[31] - The company achieved a total non-recurring profit and loss of 2,318,455.18 yuan, primarily from government subsidies and asset disposals[27] - The company reported a significant increase in prepayments, which rose to ¥106,092,111.33 from ¥62,152,740.07, reflecting a growth of approximately 70.8%[112] - The total comprehensive income for the period was CNY 41,703,644.27, indicating a positive performance[140] Cash Flow and Assets - The net cash flow from operating activities surged by 729.06% to ¥95,616,587.95, primarily due to an increase in bank acceptance bills for raw material payments[24] - Total assets at the end of the reporting period amounted to ¥2,303,000,000, with a significant increase in accounts receivable by 76.69% to ¥437,346,500.40, representing 18.99% of total assets[49] - Inventory increased by 59.10% to ¥281,341,712.58, accounting for 12.22% of total assets, primarily due to production reserves from subsidiaries[49] - The total liabilities reached ¥2,303,000,000, with accounts payable increasing by 68.72% to ¥777,260,032.00, which is 33.75% of total liabilities[50] - The total liabilities to equity ratio improved, indicating a stronger financial position as the company continues to manage its debt effectively[113] Research and Development - The company has 32 valid invention patents and 28 pending invention patents, indicating strong R&D capabilities[33] - The company is actively developing new products and technologies, with R&D expenses accounting for over 4% of revenue[33] - Research and development expenses rose to CNY 46,937,571.89, an increase of 99.87% compared to the previous year[46] - Research and development expenses for the first half of 2021 were ¥46,937,571.89, significantly higher than ¥23,484,286.42 in the same period last year, marking a 99.5% increase[119] Market and Sales Performance - The increase in revenue was mainly attributed to the production and sales growth following the commissioning of the Fujian project[24] - Sales volume of polyurethane products increased by 100% year-on-year, reaching 74,500 tons[31] - The sales volume of polyester polyol reached 15,300 tons, a year-on-year increase of 90%[32] - The TPU business achieved sales of 5,400 tons, an increase of 0.43 million tons year-on-year[32] - The company is focusing on expanding the application of solvent-free and water-based resins in various industries[31] Environmental Compliance - The company is classified as a key pollutant discharge unit in Shanghai, with specific wastewater discharge data showing compliance with local standards, including a total nitrogen discharge of 0.157 tons per year[67] - The company reported a total VOC emission of 0.68 tons per year, which is below the regulatory limit of 1.838 tons[68] - The company has established contracts with qualified third-party waste disposal units for the management of both general and hazardous waste[68] - The company has a wastewater treatment capacity of 200 tons per day and operates a complete set of waste gas treatment facilities, achieving compliance with Shanghai's wastewater discharge standards[71] - The company reported that all environmental protection facilities operated normally during the reporting period, with all emissions meeting standards[71] Shareholder and Governance - The company has committed to maintaining a lock-up period for major shareholders for 36 months post-IPO, ensuring stability in shareholding[80] - The company will avoid and minimize related party transactions, ensuring transactions are conducted with independent third parties whenever possible[83] - The company has established a commitment to not obtain any improper benefits through related party transactions[83] - The controlling shareholder has pledged to maintain a long-term holding of the company's stock, with a potential reduction of no more than 25% of the total shares held during the two years following the lock-up period[85] Risks and Challenges - The company reported a significant risk related to raw material price fluctuations, which account for approximately 60% of the main business costs[54] - The company faces potential risks from downstream industry demand fluctuations, particularly in the synthetic leather sector, which could impact future business performance[55] - The company has experienced rapid asset and business scale expansion, leading to increased management risks[59] - The company is monitoring the impact of public health events, as ongoing pandemic risks could affect market conditions[60] Financial Reporting and Compliance - The financial statements for the half-year report as of June 30, 2021, are prepared in RMB[110] - The company has not issued any stock options or equity incentives to directors, supervisors, or senior management during the reporting period[108] - The company has not reported any audit issues for the current period[109] - The company confirms its ability to continue as a going concern for at least 12 months from the reporting date[155]

2021 年第一季度报告 公司代码：603192 公司简称：汇得科技 上海汇得科技股份有限公司 2021 年第一季度报告 1 / 22 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 10 | 2021 年第一季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 | | | | 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 | 2,119,916,808.64 | 2,013,587,523.71 | | 5.28 | | 归属于上市公司 | 1,316,071,968.87 | 1,291,238,911.78 | | 1.92 | | 股东的净资产 | | | | | | | 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 | -62,186,094.72 | -69,599,194 ...

Financial Performance - The company's operating revenue for 2020 was CNY 1,497,717,810.42, representing a 4.01% increase compared to CNY 1,439,978,422.27 in 2019[21]. - The net profit attributable to shareholders for 2020 was CNY 124,220,223.59, a decrease of 6.00% from CNY 132,155,389.38 in 2019[21]. - The net profit for 2020, after deducting non-recurring gains and losses, was CNY 119,591,342.26, a slight decrease of 1.49% compared to CNY 121,402,540.24 in 2019[22]. - Basic earnings per share decreased by 6.45% to CNY 1.16 compared to CNY 1.24 in 2019[23]. - The weighted average return on equity fell to 9.96%, down 1.42 percentage points from 11.38% in 2019[23]. - The gross profit margin for the main business was 19.74%, a decrease of 3.11 percentage points compared to the previous year, primarily due to increased fixed costs from the new plant[51]. - The company achieved a revenue of 1,497,717,810.42 CNY in 2020, representing a year-on-year growth of 4.01%[51]. - The net profit attributable to shareholders decreased by 6.00% to 12,422.02 CNY million, while the net profit after deducting non-recurring gains and losses fell by 1.49% to 11,959.13 CNY million[52]. - The total assets increased by 17.83% to 201,358.75 CNY million, and net assets grew by 6.90% to 129,123.89 CNY million[52]. Cash Flow and Investments - Cash flow from operating activities for 2020 increased by 81.01% to CNY 161,823,355.79 from CNY 89,401,787.37 in 2019[22]. - The operating cash flow net amount increased by 81.01% to 161,823,355.79 CNY, indicating improved cash generation capabilities[54]. - The company has engaged in cash asset management, with various structured deposits totaling RMB 50,000,000 with a 3.36% annualized return[140]. - The company has also invested RMB 30,000,000 in structured deposits with a 3.30% annualized return[140]. - The company reported a total of 500 million RMB in cash reserves, providing a strong foundation for future investments[197]. Production and Capacity - The company’s main business remains focused on the research, production, and sales of polyurethane resin products, with no significant changes reported during the period[34]. - The completion of the "annual production of 180,000 tons of polyurethane resin and its modified body project" has enhanced the company's production capacity and improved its industrial layout[44]. - The company’s production capacity increased by 100,000 tons/year for leather polyurethane and 15,000 tons/year for TPU due to the completion of the first phase of the new project in Fujian[89]. - Production of polyurethane reached 115,569.13 tons, an increase of 6.20% year-on-year, while sales were 113,084.75 tons, up 3.38% year-on-year[59]. - The company has a wastewater treatment capacity of 400 tons per day and operates various air pollution control facilities, including 4 spray towers and 10 activated carbon adsorption units[163]. Research and Development - The company maintained a research and development investment ratio of over 4% of operating revenue for the past three years, applying for 18 invention patents during the reporting period[40]. - Research and development expenses increased by 8.75% to 68,777,622.36 CNY, reflecting the company's commitment to innovation[54]. - The company has a strong technical research and development team, capable of quickly responding to market demands and developing new products[40]. - The company has introduced new technologies aimed at improving production efficiency, projected to reduce costs by 15%[195]. - New product development initiatives are underway, with an investment of 100 million RMB allocated for R&D in the upcoming year[197]. Market and Sales - The company achieved a market share of approximately 6.5% in polyurethane product sales, slightly up from the previous year, despite industry challenges[82]. - The company has established specialized marketing teams for polyester polyols and other polyurethane products, effectively capturing market recovery opportunities[45]. - The company has built a comprehensive marketing service network, enhancing its brand and market advantages in the downstream industry[39]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2023[198]. Environmental Compliance - The company has invested significantly in environmental management, achieving ISO 14001:2015 certification, but faces risks from increasing environmental compliance costs[105]. - The company has a total of 8 waste gas monitoring devices and 3 wastewater monitoring devices, all operating normally[155]. - The company has established a comprehensive solid waste management system, entrusting qualified third-party companies for the disposal of hazardous and non-hazardous waste[162]. - The company has completed a clean production audit and implemented energy-saving modifications, resulting in reduced production waste and improved environmental benefits[155]. - The company’s environmental impact assessment execution rate is 100% for all existing construction projects[156]. Shareholder and Governance - The company plans to distribute a cash dividend of CNY 3.60 per 10 shares to all shareholders, pending approval at the annual general meeting[5]. - The company has a history of cash dividend distributions, with the previous year's cash dividend being 39,680,000.12 RMB, which was 30.03% of the net profit[116]. - The company emphasizes a stable and reasonable return on investment for shareholders, prioritizing cash dividends over stock dividends[110]. - The actual controller and shareholders committed to not transferring or entrusting others to manage their shares for 36 months from the date of the company's IPO[118]. - The company has not proposed any cash dividend distribution plan despite having positive retained earnings[117]. Risks and Challenges - The report includes a detailed description of potential adverse factors and risks that may affect the company's operations and future development[7]. - The company has faced risks related to the potential decline in demand for polyurethane due to downstream industry conditions, which could adversely affect future business development and performance[103]. - Rapid expansion of the company's asset and business scale poses management risks, requiring higher operational management standards[108]. - The overall demand for the polyurethane resin industry declined by approximately 10% compared to 2019, with specific segments like leather polyurethane affected by foreign trade downturns[81]. Corporate Governance and Compliance - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[7]. - The company has not violated any decision-making procedures for external guarantees[7]. - The company committed to timely and comprehensive disclosure of any share reduction plans, with specific conditions outlined for the reduction process[122]. - The company has made commitments to avoid competition with Huide Technology and will notify them of any business opportunities that may lead to conflicts[121].

Financial Performance - Revenue decreased by 11.16% to CNY 943,056,372.31 for the first nine months compared to the same period last year[6] - Net profit attributable to shareholders decreased by 30.91% to CNY 70,261,138.81 for the first nine months compared to the same period last year[6] - Basic and diluted earnings per share decreased by 30.53% to CNY 0.66[7] - The company reported a total operating revenue of ¥943,056,372.31 for the first three quarters of 2020, a decrease of 11.1% from ¥1,061,490,884.85 in the same period of 2019[25] - The company recorded a total profit of ¥79,438,268.35 for the first three quarters of 2020, down 31.8% from ¥116,490,616.68 in the same period of 2019[27] - Total profit for Q3 2020 was ¥31,977,498.86, down 22.4% from ¥41,232,852.16 in Q3 2019[27] Assets and Liabilities - Total assets increased by 7.39% to CNY 1,835,255,732.91 compared to the end of the previous year[6] - Total liabilities at the end of the reporting period decreased by 86% to RMB 20,565,591.07 from RMB 146,844,954.79 due to the purchase of bank principal-protected structured deposits[14] - Total liabilities increased to RMB 596,659,201.30 from RMB 501,081,554.63, which is an increase of around 19.0%[20] - Non-current assets totaled RMB 446,674,013.66, up from RMB 325,516,103.68, reflecting a growth of approximately 37.1%[19] - Total current liabilities rose to RMB 594,208,429.33 from RMB 498,467,993.60, indicating an increase of about 19.2%[19] Cash Flow - Operating cash flow increased by 63.46% to CNY 56,857,663.35 for the first nine months compared to the same period last year[6] - Cash flow from operating activities increased by 63.46% to RMB 56,857,663.35 from RMB 34,784,292.46, driven by a decrease in raw material costs[17] - Cash flow from investing activities improved significantly to RMB 11,135,957.44 from a negative RMB 115,431,295.18, due to the maturity of structured deposits[17] - The net cash flow from operating activities for Q3 2020 was ¥56,857,663.35, an increase of 63.5% compared to ¥34,784,292.46 in Q3 2019[34] Shareholder Information - The total number of shareholders reached 9,213 at the end of the reporting period[12] - The largest shareholder, Shanghai Huide Enterprise Group Co., Ltd., holds 35.62% of the shares[12] - The company's equity attributable to shareholders reached RMB 1,238,596,531.61, up from RMB 1,207,864,539.38, showing an increase of about 2.5%[20] Expenses - Total operating costs for Q3 2020 were ¥425,024,302.84, up 16.4% from ¥364,791,198.65 in Q3 2019[25] - Research and development expenses for Q3 2020 were ¥19,078,027.86, a decrease of 7.3% compared to ¥20,586,467.17 in Q3 2019[25] - Sales expenses in Q3 2020 were ¥11.35 million, a decrease of 17.9% from ¥13.82 million in Q3 2019[30] - Management expenses in Q3 2020 were ¥11.16 million, down 22.5% from ¥14.30 million in Q3 2019[30] Other Financial Metrics - The weighted average return on net assets decreased by 3.13 percentage points[7] - The company reported a credit impairment loss of ¥5.01 million in Q3 2020, compared to ¥1.82 million in Q3 2019, indicating a significant increase in credit risk[31] - The company received government subsidies amounting to CNY 2,359,591.09 for the first nine months[8] - The company has implemented the new revenue recognition standards starting January 1, 2020, in accordance with the revised accounting standards[47]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥478,966,969.23, a decrease of 26.92% compared to ¥655,404,235.62 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was ¥41,703,644.27, down 36.71% from ¥65,892,466.61 year-on-year[20]. - The net cash flow from operating activities was -¥15,199,910.65, a decline of 281.65% compared to -¥3,982,725.45 in the previous year[22]. - The total assets at the end of the reporting period were ¥1,539,862,478.71, a decrease of 9.89% from ¥1,708,946,094.01 at the end of the previous year[20]. - The basic earnings per share for the first half of 2020 was ¥0.39, down 37.10% from ¥0.62 in the same period last year[21]. - The weighted average return on net assets was 3.39%, a decrease of 2.38 percentage points compared to 5.77% in the previous year[21]. - The net profit after deducting non-recurring gains and losses was ¥39,445,254.95, a decrease of 33.63% from ¥59,431,750.44 year-on-year[20]. - The company's main business revenue was 451.81 million yuan, down 25.53% year-on-year, with main business costs at 343.52 million yuan, a decrease of 26.79%[39]. - The company's main business gross margin was 23.97%, an increase of 1.31 percentage points compared to the same period last year[39]. - The company reported a net profit margin of 274.34 million, which is a decrease of 202.51 million compared to the previous year, reflecting a decline of approximately 42.4%[59]. Research and Development - The company applied for 4 invention patents during the reporting period and obtained 2 authorized invention patents, bringing the total to 28 effective authorized invention patents[34]. - The company has a strong technical research and development team, with R&D expenses accounting for over 4% of operating income in the past three years[34]. - Research and development expenses were ¥23,484,286.42, down 17.01% from ¥28,296,301.54 in the previous year[51]. - The company has made significant investments in research and development, although specific figures were not disclosed in the report[148]. Environmental Management - The company has been recognized for its compliance with national industrial policies and has passed various environmental management certifications, including ISO14001 and ISO45001[35]. - The company has established an environmental management system and obtained ISO14001:2015 certification, indicating its commitment to sustainable practices[62]. - The total wastewater discharge for the first half of 2020 was within the regulatory limits, with no exceedances reported[78]. - The company reported that all emissions from its production processes, including VOCs and particulate matter, are within regulatory limits, with specific emissions of 0.730 tons/year for VOCs and 0.47 tons/year for particulate matter[79]. - The company has completed a clean production audit, resulting in reduced production waste and savings in electricity and gas consumption[80]. - The company has established an emergency response plan for environmental incidents, led by the chairman, to minimize pollution and damage[84]. Shareholder and Capital Management - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of listing, which began on June 15, 2017[66]. - The company will adjust the offering price in case of dividends, stock splits, or capital increases post-listing[67]. - The company has outlined a clear strategy for share management to maintain investor confidence and market stability[66]. - The company has pledged that no more than 25% of its total shares will be transferred annually by its directors and senior management during their tenure[68]. - The company will extend the lock-up period for shares if the stock price falls below the issue price for 20 consecutive trading days[68]. Market and Business Strategy - The company emphasizes a direct sales model and has established a sales channel network covering major downstream customers, enhancing product value through technical services[28]. - The company is actively promoting new products such as PU shoe sole raw materials and PUR hot melt adhesives to meet diverse customer needs[41]. - The company plans to expand its market presence, focusing on new product launches and technological advancements in the upcoming quarters[148]. - Future outlook indicates a focus on market expansion and potential mergers and acquisitions to drive growth in the upcoming quarters[130]. Financial Position and Assets - The company's total current assets as of June 30, 2020, amount to ¥1,121,892,255.10, a decrease from ¥1,383,429,990.33 at the end of 2019[108]. - The total assets at the end of the reporting period are 1,142,460,986 RMB, showing a stable asset base[148]. - The total equity attributable to shareholders reached 1,207,864,539, an increase from the previous year's 1,116,769,908, reflecting a growth of approximately 8.2%[130]. - The company has a total of 106,666,667 shares issued as of June 30, 2020, with a capital increase from the public offering[156]. Compliance and Governance - The company has renewed its audit engagement with Lixin Certified Public Accountants for the 2020 fiscal year, ensuring compliance with financial auditing standards[72]. - The financial statements are prepared in accordance with the enterprise accounting standards, ensuring a true and complete reflection of the company's financial status[162]. - The company has not engaged in any significant related party transactions during the reporting period[75]. - The company has committed to avoiding and reducing related party transactions with Huide Technology, ensuring transactions are conducted with independent third parties[68].