Financial Performance - The company reported a revenue of 500 million RMB for the first half of 2022, representing a 20% increase compared to the same period in 2021[19]. - The company's operating revenue for the first half of the year reached ¥2,258,438,545.55, representing an increase of 81.50% compared to the same period last year[24]. - Net profit attributable to shareholders was ¥175,154,376.87, up 113.87% year-on-year, driven by increased sales and improved production efficiency[26]. - Basic earnings per share for the first half of the year was ¥0.43, reflecting a 115.00% increase from ¥0.20 in the previous year[27]. - The company's total assets increased by 6.44% to ¥5,053,274,467.96 compared to the end of the previous year[26]. - The net assets attributable to shareholders rose by 14.04% to ¥2,541,669,951.34[26]. - The gross profit margin improved to 35%, up from 30% in the previous year, indicating better cost management[19]. - The company achieved revenue of 18.1 million yuan from its solar power plant maintenance materials business, reflecting a year-on-year growth of 10.16%[53]. - The company achieved a revenue of 2.258 billion RMB, an increase of 81.50% compared to the same period last year[77]. - Net profit attributable to shareholders reached 175 million RMB, up 113.87% year-on-year[77]. User Growth and Market Expansion - User data indicates a growth in active users by 15% year-over-year, reaching 1.2 million active users by June 30, 2022[19]. - The company expects a revenue growth of 25% for the second half of 2022, driven by new product launches and market expansion strategies[19]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2023[19]. - The company is actively pursuing opportunities in the 3C communications and consumer electronics materials market, leveraging its adhesive technology platform to find new growth points[61]. - The company is considering strategic acquisitions to bolster its market position, with potential targets identified in the tech sector[150]. Research and Development - Research and development expenses increased by 30% to 50 million RMB, focusing on new polymer materials and photovoltaic technologies[19]. - The company focuses on the research, production, and sales of polymer functional materials, with significant applications in photovoltaic materials and transportation power materials[34]. - The company plans to continuously increase investment in R&D to strengthen its core competitiveness and meet customer demands[104]. - The company is focusing on the R&D and productization of semiconductor chip bonding materials, with three new products currently in development and two expected to be productized in 2022[62]. - The company has developed over 20 new products in research and testing, capitalizing on the domestic market's demand for localization in sectors like new energy vehicles and semiconductors[66]. Product Development and Innovation - The company has launched a new dual-glass solar panel product, which is expected to contribute an additional 100 million RMB in revenue by the end of 2022[19]. - The company has developed a comprehensive solution for photovoltaic materials, including various types of back sheets and encapsulation films, to meet diverse market demands[36]. - The company has successfully developed a new EVA+EPE encapsulation film, receiving bulk orders from major clients such as JA Solar and Trina, which positions the company for future sales growth[47]. - The company has expanded its product offerings to include PPf and FPf back sheets, with PPf already undergoing testing and certification by major clients, indicating strong domestic demand[42]. - The company has developed a specialized POE film for TOPCon solar cells, which has passed testing by leading manufacturers and is now in small-scale trial production[48]. Operational Efficiency and Cost Management - The company continues to enhance its production scale, leading to improved profitability and reduced production costs[26]. - The company has optimized its supply chain and production processes, resulting in a cost reduction for KPf back sheets and an increase in overall profitability[45]. - The company is focusing on digitalization and AI integration through significant IT system upgrades[76]. - The company aims to improve operational efficiency, targeting a reduction in costs by G% through streamlined processes and technology upgrades[139]. Environmental Responsibility - The company has established two RTO waste gas treatment facilities to ensure stable compliance with pollutant discharge standards[114]. - The company actively monitors its pollutant emissions and has implemented a self-monitoring plan to fulfill its environmental responsibilities[119]. - The company implemented measures to reduce carbon emissions, including the construction of solar photovoltaic power stations and the use of low-energy equipment, resulting in energy savings and reduced emissions[121]. Shareholder and Corporate Governance - The board has approved a profit distribution plan, although no specific details were provided in the report[19]. - The actual controller and major shareholders have committed to a 36-month lock-up period for their shares following the company's IPO, with strict adherence to this commitment[123]. - The company plans to limit any share reductions by major shareholders to no more than 10% of the total share capital within two years after the lock-up period ends[126]. - The company commits to minimizing related party transactions and ensuring fair market prices when unavoidable[129]. - The management team committed to not using their positions to influence the company's independence and to minimize related party transactions[145].

Financial Performance - The company's operating revenue for Q1 2022 was ¥1,097,559,810.67, representing an increase of 81.85% compared to the same period last year [6] - The net profit attributable to shareholders for Q1 2022 was ¥88,595,395.30, reflecting a growth of 76.33% year-on-year [6] - Basic and diluted earnings per share for Q1 2022 were both ¥0.22, an increase of 69.23% year-on-year [9] - Total operating revenue for Q1 2022 reached ¥1,097,559,810.67, a significant increase of 82.0% compared to ¥603,556,421.47 in Q1 2021 [35] - Net profit for Q1 2022 was ¥88,484,554.19, representing a 75.8% increase from ¥50,312,061.27 in Q1 2021 [35] - Earnings per share for Q1 2022 was ¥0.22, compared to ¥0.13 in Q1 2021 [37] Cash Flow - The net cash flow from operating activities was -¥78,032,345.76, a decrease of 68.08% compared to the previous year [6] - Cash flow from operating activities was ¥619,196,767.03 in Q1 2022, compared to ¥335,270,488.98 in Q1 2021 [37] - Cash outflow from operating activities increased to ¥716,904,802.18 from ¥599,270,067.81, leading to a net cash flow from operating activities of -¥78,032,345.76, an improvement from -¥244,454,221.09 [41] - The net increase in cash and cash equivalents was -¥490,364,584.25, compared to -¥28,292,275.26 in the previous period, indicating a significant cash outflow [43] - The ending balance of cash and cash equivalents stood at ¥526,585,221.07, down from ¥1,016,949,805.32 at the beginning of the period [43] Assets and Liabilities - The total assets at the end of the reporting period were ¥4,841,970,288.33, up 1.99% from the end of the previous year [9] - The company's total current assets amounted to RMB 3,690,915,643.32, a slight increase from RMB 3,641,572,668.08 on December 31, 2021, representing a growth of approximately 1.0% [25] - The total liabilities amounted to ¥2,510,499,031.92, slightly down from ¥2,519,717,762.80 in the previous year [35] - Total current liabilities decreased to RMB 1,603,073,708.85 from RMB 1,639,525,179.06, a reduction of approximately 2.5% [29] - The company's inventory decreased to RMB 559,073,360.67 from RMB 616,354,944.41, indicating a decline of approximately 9.3% [25] Equity - The company's equity attributable to shareholders increased by 4.66% to ¥2,332,613,930.77 compared to the end of the previous year [9] - The total equity attributable to shareholders increased to ¥2,332,613,930.77 from ¥2,228,661,042.62 year-over-year [35] - The company reported a total equity of RMB 2,238,896,579.48, reflecting a slight increase from the previous period [29] Expenses - The company's operating costs increased by 88.12% due to the rise in operating revenue [15] - The company reported a 57.29% increase in management expenses, primarily due to increased share-based payment expenses related to employee equity incentives [15] - Research and development expenses for Q1 2022 were ¥23,002,163.78, an increase from ¥20,874,492.23 in Q1 2021 [35] - The company reported a financial expense of ¥13,581,658.34, significantly higher than ¥4,759,994.73 in Q1 2021 [35] - The company paid cash to employees totaling ¥56,713,696.53, up from ¥40,128,293.22, reflecting increased workforce costs [41] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 22,437, with the top ten shareholders holding a significant portion of the shares [16] Contract Liabilities - The company experienced a 296.47% increase in contract liabilities, attributed to an increase in customer prepayments [13]

Financial Performance - The company's operating revenue for 2021 was CNY 3,017,261,003.66, an increase of 38.25% compared to CNY 2,182,509,678.96 in 2020[26]. - The net profit attributable to shareholders for 2021 was CNY 170,092,277.25, a decrease of 12.36% from CNY 194,090,190.41 in 2020[26]. - The net cash flow from operating activities for 2021 was CNY -177,128,808.22, a decline of 712.44% compared to CNY 28,921,770.32 in 2020[26]. - The total assets at the end of 2021 were CNY 4,747,346,972.17, an increase of 44.90% from CNY 3,276,338,968.96 at the end of 2020[29]. - The basic earnings per share for 2021 was CNY 0.42, down 16.00% from CNY 0.50 in 2020[29]. - The weighted average return on equity for 2021 was 8.63%, a decrease of 3.12 percentage points from 11.75% in 2020[29]. - The net assets attributable to shareholders increased by 18.97% to CNY 2,228,661,042.62 at the end of 2021[26]. - The overall gross margin for 2021 was 17.13%, impacted by rising raw material costs and supply chain constraints[109]. Dividend and Share Capital - As of December 31, 2021, the total share capital of the company was 404,074,000 shares, with a proposed cash dividend of 1.25 RMB per 10 shares, totaling 50,509,250 RMB, resulting in a cash dividend payout ratio of 29.70%[6]. - The company has committed to maintaining the distribution ratio per share, with adjustments to the total distribution amount if the total share capital changes before the dividend distribution date[6]. Audit and Governance - The company has received a standard unqualified audit report from Tianheng Accounting Firm, ensuring the accuracy and completeness of the financial report[5]. - The board of directors and supervisory board members have confirmed the authenticity and completeness of the annual report, taking legal responsibility for any misstatements or omissions[4]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period, indicating sound financial governance[7]. - The company has not violated any decision-making procedures regarding external guarantees during the reporting period, reflecting compliance with regulations[7]. - The company has established a comprehensive internal management and control system to enhance governance and protect shareholder interests[180]. - The company’s governance structure includes a board of directors, supervisory board, and specialized committees, ensuring clear responsibilities and accountability[180]. Market and Product Development - The company plans to expand its market presence and enhance product offerings in the renewable energy sector[26]. - The company reported a significant increase in sales of solar packaging films and materials for the semiconductor and electric transportation sectors, contributing to revenue growth[26]. - The company is focusing on improving operational efficiency to mitigate the impact of rising raw material costs[26]. - The company plans to enhance its product structure and improve gross margins in 2022, following successful adjustments in its backsheet product lines[41]. - The company aims to position itself as a total solution provider for photovoltaic high polymer materials, extending its offerings beyond traditional materials[79]. Research and Development - The company is committed to increasing its technological variety and efficiency, with a focus on rapid and low-cost R&D advantages[91]. - The company has over 20 new products in development, focusing on the automotive and semiconductor industries, aiming for rapid market introduction[92]. - The company is investing $50 million in R&D for new technologies aimed at enhancing product efficiency[196]. - Total R&D expenses amounted to $92,617,296.55, accounting for 3.07% of operating revenue, with no capitalized R&D expenses reported[128]. Risks and Compliance - The company has outlined potential risks in its management discussion and analysis section, advising investors to pay attention to these risks[7]. - The company faces risks related to the cyclical nature of the photovoltaic industry, which is influenced by macroeconomic policies and market demand fluctuations[174]. - Global economic fluctuations and trade tensions, particularly between the US and China, pose risks to the company's sales and future performance[178]. Customer and Market Position - The company has maintained the number one global market share for its KPf backsheet product for seven consecutive years, establishing it as a new industry benchmark[78]. - The company has established a strong customer base in the photovoltaic sector, including major clients like Trina Solar and BYD, enhancing its market presence[99]. - The company successfully entered the supply chains of leading enterprises such as CATL and BYD with its battery materials, achieving the highest market share in three product categories[45]. Financial Management - The company reported a significant increase in sales expenses by 92.50% to CNY 51.68 million, primarily due to higher sales personnel costs[106]. - Research and development expenses rose by 30.62% to CNY 92.62 million, reflecting the company's commitment to innovation[106]. - The company reported a non-recurring gain of approximately 4.42 million RMB in 2021, compared to 15.85 million RMB in 2020[37]. - The company’s cash flow from operating activities showed a net outflow of approximately 244.45 million RMB in the latest reporting period[33]. Executive Compensation - The total pre-tax remuneration received by executives during the reporting period amounted to 399.50 million yuan[191]. - The total number of shares held by executives at the end of the reporting period was 390,000 shares, with an increase of 390,000 shares during the year due to equity incentives[191]. - The Chairman and General Manager, Wu Xiaoping, received a total pre-tax remuneration of 89.00 million yuan, with no shares held[191].

Financial Performance - The company's operating revenue for Q3 2021 was ¥847,761,933.69, representing a year-on-year increase of 48.65%[7]. - The net profit attributable to shareholders for Q3 2021 was ¥39,764,338.55, a decrease of 23.62% compared to the same period last year[7]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥31,728,105.32, down 31.36% year-on-year[7]. - The basic and diluted earnings per share for Q3 2021 were both ¥0.10, a decrease of 23.08% compared to the same period last year[9]. - The weighted average return on equity for Q3 2021 was 2.07%, a decrease of 0.79 percentage points year-on-year[9]. - The total operating revenue for the first three quarters of 2021 reached ¥2,092,111,768.14, a significant increase of 43.5% compared to ¥1,458,704,774.46 in the same period of 2020[30]. - The net profit for the first three quarters of 2021 was ¥121,953,453.10, slightly down from ¥122,866,583.94 in the previous year, indicating a decrease of 0.7%[33]. - The company's basic earnings per share for the first three quarters of 2021 was ¥0.30, down from ¥0.32 in 2020[35]. Assets and Liabilities - Total assets at the end of Q3 2021 were ¥3,968,034,026.93, an increase of 21.11% compared to the end of the previous year[9]. - The total assets of the company reached ¥3,968,034,026.93, compared to ¥3,276,338,968.96 at the end of 2020[23]. - The company's total liabilities increased to ¥1,975,658,425.91 in 2021 from ¥1,404,314,138.32 in 2020, representing a growth of 40.7%[28]. - The total equity attributable to shareholders of the parent company rose to ¥1,993,396,729.75, up from ¥1,873,336,355.13, marking an increase of 6.4%[28]. Cash Flow - The net cash flow from operating activities for the year-to-date was -¥125,681,608.53, a decrease of 271.24% compared to the same period last year[7]. - The cash inflow from operating activities for the first three quarters of 2021 was CNY 1,636,114,577.19, an increase from CNY 1,170,774,774.17 in the same period of 2020, representing a growth of approximately 39.7%[37]. - The net cash flow from operating activities for the first three quarters of 2021 was -CNY 125,681,608.53, compared to CNY 73,396,907.49 in 2020, indicating a decline in cash generation[39]. - The total cash outflow from operating activities increased to CNY 1,761,796,185.72 in 2021 from CNY 1,097,377,866.68 in 2020, reflecting a rise of about 60.5%[39]. - The cash and cash equivalents at the end of the period were CNY 473,069,212.41, up from CNY 364,522,742.67 in the previous year, representing an increase of about 30.0%[39]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 13,336[15]. - The largest shareholder, Suzhou High-tech Zone Panyang Technology Development Co., Ltd., holds 115,968,024 shares, accounting for 28.99% of total shares[15]. - The company has a total of 10 major shareholders, with the top five holding a combined 69.77% of shares[15]. Operational Insights - The increase in operating revenue was primarily driven by higher sales volumes of photovoltaic packaging films and materials related to new energy power batteries[11]. - The decline in net profit was attributed to continued investment in packaging film production capacity, which has not yet achieved economies of scale, and significant increases in raw material prices[11]. - The company faced a cash flow challenge due to procurement payments increasing more than sales receipts in response to new capacity and raw material stockpiling[11]. - The company has not disclosed any significant new product developments or market expansion strategies during the reporting period[18]. - There are no significant changes in the company's debt structure or financing activities reported[18]. Costs and Expenses - The total operating costs for the first three quarters of 2021 were ¥1,962,502,462.56, up from ¥1,313,896,766.52 in 2020, reflecting a 49.4% increase[30]. - Research and development expenses for the first three quarters of 2021 were ¥57,622,757.25, compared to ¥43,636,411.40 in 2020, reflecting a growth of 32.0%[30]. - The financial expenses for the first three quarters of 2021 were ¥16,377,669.93, significantly higher than ¥7,438,732.29 in the same period last year, indicating an increase of 120.5%[33].

Financial Performance - The company reported a significant increase in revenue for the first half of 2021, with a year-on-year growth of XX% compared to the same period in 2020[20]. - Revenue for the current period reached ¥1,244,349,834.45, representing a 40.07% increase compared to ¥888,403,651.65 in the same period last year[22]. - Net profit attributable to shareholders was ¥81,898,718.79, up 15.50% from ¥70,908,117.06 year-on-year[22]. - Net profit excluding non-recurring gains and losses was ¥78,137,591.24, reflecting a 22.78% increase from ¥63,641,437.84 in the previous year[22]. - Basic earnings per share for the current period was ¥0.20, a 5.26% increase from ¥0.19 in the same period last year[22]. - The company achieved a revenue of 1,244.35 million yuan, representing a 40.07% increase year-over-year[73]. - The net profit attributable to shareholders was 81.90 million yuan, reflecting a 15.50% growth compared to the previous year[73]. - The total assets reached 3,883.44 million yuan, an 18.53% increase from the end of the previous year[73]. Market Expansion and Product Development - The company has outlined its future outlook, projecting a revenue growth of ZZ% for the next fiscal year, driven by new product launches and market expansion strategies[20]. - New product development includes advancements in functional polymer materials, which are expected to enhance the company's competitive edge in the energy and electronics sectors[20]. - The company is actively pursuing market expansion, targeting new geographical regions to increase its market share and customer base[20]. - The company has diversified its product applications, including photovoltaic materials and health care materials, enhancing its growth potential[30]. - The company aims to expand its market presence through continuous development of functional materials suitable for various applications[33]. - The company has established a technical platform with nine types of adhesives, supporting its vision of becoming a multi-application enterprise[33]. - The company has successfully launched high-transparency EVA films and white EVA films, with ongoing certification and small-scale trials with major downstream manufacturers[42]. - The company has extended its business into the photovoltaic power station repair materials sector, addressing issues in over 700 GW of installed capacity globally[44]. Operational Efficiency and Financial Health - The company has implemented new strategies to improve operational efficiency, which are anticipated to reduce costs by AA% in the upcoming quarters[20]. - The financial report indicates a solid balance sheet with total assets amounting to BB million RMB, reflecting the company's strong financial health[20]. - The company has maintained a robust cash flow, with cash reserves increasing by CC% compared to the previous year, providing a buffer for future investments[20]. - The net cash flow from operating activities decreased by 645.65% to -¥353,244,052.10, primarily due to increased procurement payments exceeding sales growth[23]. - Total assets increased by 18.53% to ¥3,883,436,434.29, driven by investments in new production capacity for packaging film products[23]. - The company’s total liabilities reached ¥1,937,100,105.67, up from ¥1,404,314,138.32, showing a growth of approximately 37.8%[197]. - Owner's equity totaled ¥1,946,336,328.62, compared to ¥1,872,024,830.64, reflecting an increase of about 3.9%[197]. Environmental Compliance and Sustainability - The company has established two sets of RTO waste gas treatment facilities, which are operating well and ensuring stable pollutant emissions within standards[105]. - The company utilizes rooftop solar photovoltaic power generation and RTO waste heat recovery to reduce carbon emissions[111]. - The company has implemented a self-monitoring plan to track pollutant emissions and their impact on the surrounding environment[110]. - The company has complied with environmental impact assessment requirements and obtained necessary permits for pollutant discharge[106]. - The company has not faced any administrative penalties due to environmental issues during the reporting period[111]. - The company’s waste disposal includes third-party recycling for general solid waste and qualified third-party disposal for hazardous waste[103]. Shareholder Commitments and Governance - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of listing, with automatic extension of the lock-up period if certain price conditions are met[116]. - Major shareholders are restricted from reducing their holdings by more than 10% of the total share capital within two years after the lock-up period ends[119]. - The company has established a commitment to ensure that any gains from share reductions will be returned to the company if the lock-up agreements are violated[119]. - The company has a policy in place to announce any intended share reductions at least three trading days in advance[119]. - The company’s major shareholders are required to comply with relevant laws and regulations regarding share reductions, including using designated trading platforms[120]. - The company has outlined that any share reduction prices must not be lower than the original issue price[120]. - The company has made commitments related to resolving related party transactions and competition issues[116]. - The company has ensured that all commitments made by its major shareholders are being strictly adhered to[116]. Research and Development - Research and development expenses surged by 65.57% year-on-year, amounting to approximately CNY 39.36 million, reflecting increased investment in packaging film and communication materials[83]. - The company has developed over 10 industry-leading innovations, including high-strength battery core blue films and fire-resistant materials for battery packs[65]. - The company has established a biochemical technology platform to develop biomedical and health products, including wound healing and aesthetic materials, through its wholly-owned subsidiary[54]. Share Capital and Ownership Structure - The total number of shares increased from 360,000,000 to 400,010,000, with a decrease of 215,231,976 in restricted shares[169]. - As of the end of the reporting period, the total number of common shareholders was 11,486[177]. - The proportion of restricted shares decreased to 36.19%, while unrestricted shares increased to 63.81%[170]. - The largest shareholder, Suzhou High-tech Zone Panyang Technology Development Co., Ltd., holds 115,968,024 shares, accounting for 28.99%[177]. - Silver Glow Investments Limited holds 73,929,470 shares, representing 18.48% of the total[177]. - The company’s total share capital remains at 400,010,000 shares after the issuance of new shares[171]. - The company has no plans for new stock issuance or changes in major shareholders during the reporting period[185].

Financial Performance - Operating revenue rose by 27.55% to CNY 603,556,421.47 year-on-year[11] - Net profit attributable to shareholders increased by 17.40% to CNY 50,245,118.50 compared to the same period last year[11] - Basic earnings per share increased by 8.33% to CNY 0.13[11] - The company's operating revenue for Q1 2021 was CNY 603.56 million, an increase of 27.55% compared to CNY 473.19 million in Q1 2020[29] - Net profit for Q1 2021 was ¥50,312,061.27, compared to ¥42,772,835.53 in Q1 2020, representing an increase of 17.9%[54] - The company's net profit attributable to shareholders for the first quarter of 2021 was ¥50,245,118.50, an increase from ¥42,798,391.32 in the same period of 2020, representing a growth of approximately 10.5%[60] - The total comprehensive income for the first quarter of 2021 was ¥52,887,579.03, compared to ¥42,923,206.62 in the same period of 2020, representing an increase of about 23.2%[63] Cash Flow - Net cash flow from operating activities was negative at CNY -244,454,221.09, a significant decrease from CNY 81,358,109.70 in the previous year[11] - The net cash flow from operating activities decreased by CNY 325.81 million, primarily due to increased cash payments for goods and services[33] - Cash flow from operating activities in the first quarter of 2021 was ¥335,270,488.98, down from ¥434,632,601.91 in the first quarter of 2020, indicating a decrease of approximately 22.8%[64] - Operating cash inflow totaled CNY 371,513,487.56, down from CNY 446,203,870.56 year-over-year, representing a decrease of approximately 16.7%[68] - Operating cash outflow increased to CNY 580,007,596.56 from CNY 364,898,688.46, marking an increase of about 58.8%[68] - The company reported a net cash flow from financing activities of CNY 350.06 million, a significant increase compared to a negative cash flow in the previous year[34] - Cash inflow from financing activities reached CNY 358,127,239.72, significantly up from CNY 96,431,078.50, an increase of approximately 271.5%[73] - Net cash flow from financing activities was CNY 227,538,911.80, compared to a negative CNY -21,195,849.40 in the previous year[73] Assets and Liabilities - Total assets increased by 11.45% to CNY 3,651,497,703.78 compared to the end of the previous year[11] - Total liabilities rose to ¥1,743,282,510.09 from ¥1,404,314,138.32, indicating an increase of approximately 24.1%[43] - Current liabilities totaled ¥1,379,714,575.80, an increase from ¥1,140,780,111.30, reflecting a rise of 20.9%[51] - Total assets as of the reporting date were ¥3,450,122,621.43, up from ¥3,224,754,439.42, marking an increase of 7.0%[51] - The company reported accounts receivable of ¥1.03 billion and inventory valued at ¥354.36 million[74] - The company has short-term borrowings of ¥308.35 million and accounts payable of ¥423.20 million[77] Shareholder Information - The total number of shareholders reached 9,783 at the end of the reporting period[18] - The largest shareholder, Suzhou High-tech Zone Panyang Technology Development Co., Ltd., holds 28.99% of shares[18] - Shareholders' equity totaled ¥1,908,215,193.69, up from ¥1,872,024,830.64, reflecting a growth of about 1.9%[45] Research and Development - R&D expenses surged by 108.79% to CNY 20.87 million, up from CNY 10.00 million in Q1 2020, indicating a significant increase in investment in innovation[30] - Research and development expenses increased to ¥20,865,958.27 in the first quarter of 2021, compared to ¥9,997,869.06 in the same period of 2020, marking a significant rise of about 108.5%[60] Future Plans - The company plans to continue expanding its market presence and invest in new product development[11]

Financial Performance - The company's operating revenue for 2020 was CNY 2,182,509,678.96, representing a 2.20% increase compared to CNY 2,135,491,647.33 in 2019[19]. - Net profit attributable to shareholders was CNY 194,090,190.41, a 2.01% increase from CNY 190,273,102.49 in the previous year[19]. - The basic earnings per share for 2020 was CNY 0.50, down 5.66% from CNY 0.53 in 2019[19]. - The gross profit margin for the company in 2020 was 17.96%, a decrease of 0.8 percentage points from 2019 due to changes in accounting standards[96]. - The revenue from non-photovoltaic materials increased by 105.67% compared to 2019, with SET material sales growing from CNY 187,700 to CNY 16.36 million monthly by year-end[90]. - The company achieved a revenue of CNY 2.18 billion in 2020, representing a year-on-year growth of 2.20%[91]. - The net profit attributable to shareholders was CNY 194 million, an increase of 2.01% compared to the previous year[91]. Cash Flow and Assets - The net cash flow from operating activities decreased by 81.29% to CNY 28,921,770.32, down from CNY 154,611,645.28 in 2019[19]. - Cash and cash equivalents increased by 83.04% from 289.73 million yuan in 2019 to 530.32 million yuan in 2020, primarily due to funds received from the IPO[70]. - Accounts receivable rose by 24.01% from 833.75 million yuan in 2019 to 1.0339 billion yuan in 2020, attributed to a significant increase in sales in Q4 2020[70]. - Inventory increased by 84.48% from 192.09 million yuan in 2019 to 354.36 million yuan in 2020, due to preparations for anticipated new production capacity[70]. - The company's total assets include restricted cash of ¥96,787,929.25, primarily for bank guarantees[126]. Dividends and Share Capital - The company plans to distribute a cash dividend of 0.5 CNY per 10 shares, totaling 20,000,500 CNY, representing a cash dividend payout ratio of 10.30% for the year 2020[5]. - As of December 31, 2020, the total share capital of the company was 400,010,000 shares[5]. Research and Development - The company is focused on developing functional polymer materials for various applications, including energy and electronics[11]. - The company is actively engaged in research and development of new products and technologies in the photovoltaic sector[11]. - The company has established a technical platform with eight types of adhesives and has invested in research facilities to support its product development and market expansion[36]. - The company has a strong focus on R&D, with a dedicated innovation center and multiple technical platforms, enhancing its ability to respond to market demands efficiently[73]. - The company plans to enhance R&D investments for technological improvements and product series expansions in the photovoltaic business[150]. - The company intends to expand its R&D team to 150 personnel and establish a research institute in Japan to enhance innovation efficiency[193]. Market Position and Strategy - The company achieved a global market share of 30.1% for its KPf backsheet products in 2020, maintaining the leading position for seven consecutive years[40]. - The company holds the largest global market share in photovoltaic backplanes and the second largest in POE encapsulation films, indicating strong competitive positioning[146]. - The company has established a mature global customer base, adding over 20 new customers for POE films and MoPro series products during the reporting period[79]. - The company has entered supply chains of major clients in various sectors, including Tesla and BYD, demonstrating its market expansion capabilities[79]. - The company is committed to maintaining its leading position in the photovoltaic encapsulation materials industry through strategic investments and market expansion efforts[146]. Production and Capacity - The company reported a production capacity utilization rate of 81.68% for photovoltaic backplanes, with a total investment of 13,615.81 million square meters[136]. - The photovoltaic encapsulation film achieved a production capacity utilization rate of 109.56%, with a total investment of 99,333.41 million and current investment of 41,329.04 million[139]. - The existing capacity for photovoltaic backplanes is 170 million square meters per year, with plans for technical upgrades to produce various types of backplanes[188]. - As of the end of 2020, the company has a production capacity of 10 million square meters per month for POE encapsulation films, which is expected to increase to 30 million square meters per month by April 2021[191]. Risks and Compliance - The company has not identified any significant risks that could materially impact its operations during the reporting period[6]. - The company faces risks related to industry cycles, policy changes, market competition, and technological iterations, which could impact its operational performance[197][198][199][200]. - The company is focused on risk prevention and improving internal controls to enhance social trust and employer reputation[188]. Strategic Partnerships and Agreements - The company signed a strategic cooperation agreement with Guodian Investment and Leasing Co., Ltd. on June 22, 2020, to collaborate on the full lifecycle maintenance of solar photovoltaic power plants[45]. - The company has been recognized in the European and American markets for its repair materials for aging photovoltaic power plants since 2017[45]. - The company is leading the drafting of industry standards for photovoltaic component repair[45].

Financial Performance - Revenue for the first nine months decreased by 7.54% to CNY 1,458,704,774.46 compared to the same period last year[17]. - Net profit attributable to shareholders decreased by 11.54% to CNY 122,971,854.05 compared to the same period last year[17]. - Net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 19.15% to CNY 109,664,598.87 compared to the same period last year[17]. - Basic earnings per share decreased by 17.95% to CNY 0.32 compared to the same period last year[17]. - The weighted average return on net assets decreased by 4.73 percentage points to 6.93% compared to the same period last year[17]. - Total operating revenue for Q3 2020 was CNY 570,301,122.81, an increase from CNY 535,033,508.06 in Q3 2019, representing a growth of approximately 6.3%[54]. - Net profit for Q3 2020 reached CNY 52,043,645.24, up from CNY 38,444,276.11 in Q3 2019, indicating a growth of approximately 35.4%[58]. - The total comprehensive income attributable to the parent company for Q3 2020 was CNY 52,063,736.99, compared to CNY 38,254,675.21 in Q3 2019, representing a year-over-year increase of 36.5%[63]. - The company reported a total profit of CNY 61,617,885.73 for Q3 2020, compared to CNY 43,217,987.55 in Q3 2019, reflecting an increase of approximately 42.6%[58]. Assets and Liabilities - Total assets increased by 26.94% to CNY 2,841,960,457.32 compared to the end of the previous year[17]. - Total liabilities as of September 30, 2020, were RMB 1,047,327,520.39, compared to RMB 931,946,895.36 at the end of 2019, marking an increase of about 12%[44]. - The total equity attributable to shareholders increased to RMB 1,796,085,413.01 from RMB 1,308,164,009.60, reflecting a growth of approximately 37%[44]. - The company reported a total asset value of RMB 2,841,960,457.32 as of September 30, 2020, up from RMB 2,238,763,698.99 at the end of 2019, representing an increase of about 27%[44]. - The total liabilities increased to CNY 1,037,663,147.96 from CNY 911,982,108.67, marking an increase of about 13.8%[50]. - Total liabilities reached approximately ¥931.95 billion, with current liabilities totaling ¥929.51 billion[87]. - Shareholders' equity totaled approximately ¥1,306.82 billion, with retained earnings at ¥427.87 billion[87]. Cash Flow - Net cash flow from operating activities improved significantly by 461.58% to CNY 73,396,907.49 compared to the same period last year[17]. - The cash flow from operating activities for the first three quarters of 2020 was CNY 73,396,907.49, a significant recovery from a negative cash flow of CNY -20,299,155.68 in the same period of 2019[72]. - The company reported a net cash flow from operating activities of CNY 72,548,949.46 for the first three quarters of 2020, compared to a negative cash flow of CNY -33,689,831.56 in the same period of 2019[77]. - The company experienced a net increase in cash and cash equivalents of CNY 81,100,186.49, contrasting with a decrease of CNY -77,085,865.38 in the previous year[77]. - The ending balance of cash and cash equivalents was CNY 340,023,400.80, compared to CNY 98,552,449.84 at the end of the same period last year[77]. Investments and Financing - The company plans to establish a wholly-owned subsidiary in Zhejiang Province with a registered capital of ¥168 million for a solar encapsulation film project, with an annual production capacity of 25.5 million square meters[33]. - The company raised CNY 721,847,982.53 from financing activities, a substantial increase from CNY 291,694,090.92 in the prior year[77]. - The net cash flow from financing activities was CNY 353,369,903.25, compared to CNY 20,049,357.07 in the same period last year[77]. - The company reported a total of CNY 1,139,532,394.54 in cash inflows from operating activities, compared to CNY 937,496,107.95 in the previous year[76]. - The company’s long-term borrowings increased to ¥114,553,011.23, reflecting a 100% increase from ¥0.00 in the previous year[32]. Shareholder Information - The total number of shareholders at the end of the reporting period was 17,241[24]. - The company’s capital reserve increased by 73.89% to ¥811,786,206.09 from ¥466,846,156.73 in the previous year[32]. - The company’s retained earnings increased to RMB 530,838,707.46 from RMB 427,867,353.41, reflecting a growth of approximately 24%[44].

Financial Performance - Revenue for the year-to-date decreased by 7.54% to CNY 1,458,704,774.46 compared to the same period last year[17] - Net profit attributable to shareholders of the listed company decreased by 11.54% to CNY 122,971,854.05 year-to-date[17] - Basic earnings per share decreased by 17.95% to CNY 0.32[17] - The weighted average return on net assets decreased by 4.73 percentage points to 6.93%[17] - Total operating revenue for Q3 2020 was CNY 570,301,122.81, an increase from CNY 535,033,508.06 in Q3 2019, representing a growth of approximately 6.3%[54] - Net profit for Q3 2020 reached CNY 52,043,645.24, compared to CNY 38,444,276.11 in Q3 2019, reflecting a growth of approximately 35.4%[58] - The total comprehensive income attributable to the parent company for Q3 2020 was CNY 52,063,736.99, compared to CNY 38,254,675.21 in Q3 2019, representing a year-over-year increase of approximately 36.5%[63] - The net profit for Q3 2020 was CNY 51,298,605.27, up from CNY 37,091,639.36 in Q3 2019, indicating a growth of about 38.3%[66] Assets and Liabilities - Total assets increased by 26.94% to CNY 2,841,960,457.32 compared to the end of the previous year[17] - Total liabilities as of September 30, 2020, were RMB 1,047,327,520.39, compared to RMB 931,946,895.36 at the end of 2019, showing an increase of about 12%[44] - The total assets as of the reporting date were CNY 2,840,347,776.64, compared to CNY 2,227,236,275.59 previously, indicating an increase of about 27.5%[50] - The company’s total liabilities decreased by 39.28% in short-term borrowings to ¥174,278,943.99, reflecting the maturity of some short-term loans[30] - The total liabilities were ¥931,946,895.36, with non-current liabilities at ¥2,431,960.27[87] - Total liabilities amounted to approximately $911.98 million[91] - The total assets and equity combined were approximately $2.23 billion[91] Cash Flow - Net cash flow from operating activities improved significantly by 461.58% to CNY 73,396,907.49 year-to-date[17] - The company reported a net cash flow from operating activities of ¥73,396,907.49, a significant increase of 461.58% compared to a negative cash flow of ¥20,299,155.68 in the previous year[32] - Cash flow from operating activities for the first three quarters of 2020 was CNY 73,396,907.49, a significant recovery from a negative cash flow of CNY -20,299,155.68 in the same period of 2019[72] - The total cash inflow from operating activities was CNY 1,170,774,774.17 in the first three quarters of 2020, compared to CNY 940,060,413.68 in the same period of 2019, an increase of approximately 24.5%[72] - The total cash and cash equivalents at the end of the period amounted to CNY 340,023,400.80, up from CNY 98,552,449.84 at the end of the previous year[77] Shareholder Information - Net assets attributable to shareholders of the listed company rose by 37.30% to CNY 1,796,085,413.01[17] - The top ten shareholders hold a total of 100% of the shares, with the largest shareholder owning 28.99%[24] - The total equity attributable to shareholders reached RMB 1,796,085,413.01, up from RMB 1,308,164,009.60, representing a growth of approximately 37%[44] - Total equity reached approximately $1.32 billion, with retained earnings of approximately $434.96 million[91] Investments and Projects - The company has established a wholly-owned subsidiary in Zhejiang Province with a registered capital of ¥168 million for a solar encapsulation film project, with an annual production capacity of 25.5 million square meters[33] - The company’s investment activities generated a net cash outflow of ¥324,921,538.07, a 314.7% increase compared to the previous year, mainly due to investments in the solar encapsulation film project[32] - The company reported a total of ¥1,922,393,710.63 in current assets, with inventory valued at ¥184,054,468.13[89] Other Financial Metrics - Other income rose by 196.9% to ¥12,820,978.00, attributed to increased government subsidies related to operational activities[32] - The company’s management expenses increased by 33.1% to ¥36,173,348.07, mainly due to increased promotional expenses related to the public offering of A shares[32] - Research and development expenses for Q3 2020 were CNY 19,863,848.80, slightly up from CNY 18,467,219.67 in Q3 2019, indicating a year-over-year increase of about 7.5%[54] - The company reported a decrease in tax expenses for Q3 2020, amounting to CNY 579,635.94, down from CNY 1,271,602.88 in Q3 2019, a reduction of approximately 54.4%[54]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥888,403,651.65, a decrease of 14.80% compared to ¥1,042,668,392.18 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was ¥70,908,117.06, down 29.63% from ¥100,764,578.92 in the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥63,641,437.84, a decline of 34.83% compared to ¥97,651,296.55 in the same period last year[19]. - The net cash flow from operating activities was ¥64,738,211.14, which is a decrease of 26.97% from ¥88,650,673.26 in the previous year[19]. - Basic earnings per share decreased by 32.14% to CNY 0.19 compared to the same period last year[22]. - Operating revenue decreased by 14.8%, primarily due to a 31.59% decline in solar backsheet sales, while solar cell encapsulation film sales increased by 264.63%[22]. - The weighted average return on net assets dropped by 45.06% to 4.84% compared to the same period last year[22]. - The company recorded a total comprehensive income of ¥70,822,938.70 for the first half of 2020, down from ¥100,903,288.17 in the same period of 2019[141]. - The total profit for the period was 81,745,712.08, a decrease from 116,638,511.79 in the previous period, representing a decline of approximately 30%[145]. - The net profit for the period was 71,182,307.13, down from 100,658,851.77, indicating a decrease of about 29%[145]. Assets and Liabilities - Total assets rose by 14.42% to CNY 2,561,649,563.42 compared to the previous year-end[22]. - The company's total liabilities amounted to ¥807,705,767.03, a decrease from ¥911,982,108.67 in the previous year[136]. - Current liabilities decreased to ¥754,937,840.45 from ¥929,514,935.09, a reduction of approximately 18.8%[129]. - Short-term borrowings decreased significantly to ¥171,735,326.56 from ¥287,037,146.67, a decline of about 40.2%[129]. - The company's equity attributable to shareholders rose to ¥1,737,889,070.26 from ¥1,308,164,009.60, an increase of about 32.8%[129]. Cash Flow - Cash and cash equivalents at the end of the period increased by 103.71% to ¥418,599,971.21, primarily due to the inflow of raised funds[54]. - Net cash flow from operating activities decreased to ¥61,087,944.97 in H1 2020, down from ¥83,767,241.85 in H1 2019, a decline of about 27.1%[155]. - Cash inflow from financing activities totaled ¥573,758,102.64 in H1 2020, a substantial increase from ¥138,720,863.76 in H1 2019, reflecting a growth of about 314.5%[156]. - The cash flow from investing activities showed a net outflow of 293,479,781.41, worsening from a net outflow of 42,008,538.71 in the previous period[151]. Business Operations - The company is focused on developing functional polymer materials for various applications, including energy and electronics[13]. - The company is expanding its production capacity for POE encapsulation film to meet increasing demand in the solar energy sector[29]. - The company signed a strategic cooperation agreement with China Power Investment Corporation to enhance lifecycle maintenance services for solar power plants[30]. - The company is developing biomedical and health products based on its core polymer materials technology, establishing a dedicated laboratory and a wholly-owned subsidiary[31]. - The company aims to increase production capacity and sales in the IGBT and electric vehicle battery markets as domestic demand rises[30]. Shareholder Commitments and Governance - The company has committed to not transferring or entrusting shares for 36 months post-IPO, with automatic extensions under certain conditions[71]. - Major shareholders are committed to not engaging in any competing business with the company during their tenure[76]. - The company will ensure that any related party transactions are conducted at market prices and comply with relevant regulations[76]. - The commitments made by major shareholders are valid for the long term, ensuring the protection of the company's interests[76]. Market and Competitive Position - The market share of the company's backsheet increased to 38.9% in the first half of 2020, up from 30.35% in the same period of 2019, despite challenges from the COVID-19 pandemic[47]. - The sales revenue of POE encapsulation film grew by 264.63% in the first half of 2020 compared to the previous year, contributing significantly to the company's income and profit[43]. - The company has formed strategic partnerships with major clients in both photovoltaic and non-photovoltaic sectors, including collaborations with well-known enterprises like BYD and CATL[41]. Research and Development - Research and development expenses decreased by 16.67% to ¥23,772,562.60, reflecting reduced investment in R&D[48]. - The company established the Cybrid College to enhance the soft skills of R&D and market personnel, indicating a focus on improving technical capabilities[36]. - The company has established an "experiential materials application development center" to collaborate with downstream clients for innovative product development[39]. Regulatory and Compliance - The company has emphasized its commitment to environmental protection, adhering to national laws and regulations, and has not faced any penalties from environmental authorities during the reporting period[95]. - The company has maintained a good integrity status during the reporting period, with no significant debts or court judgments unfulfilled[89]. - The company has not disclosed any significant related party transactions during the reporting period[92].