2023 年第一季度报告 证券代码：603268 证券简称：松发股份 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比上年同期增减 | | | --- | --- | --- | --- | | | | 变动幅度(%) | | | 营业收入 | 37,375,543.92 | | -25.30 | | 归属于上市公司股东的净利润 | -21,899,302.06 | | 不适用 | | 归属于上市公司股东的扣除非经常性 | -22,276,906.08 | | 不适用 | | 损益的净利润 | | | | | ...

证券代码：603268 证券简称：松发股份 公告编号：2023 临-017 广东松发陶瓷股份有限公司 投资者可于 2023 年 05 月 23 日(星期二) 至 05 月 29 日(星期一)16:00 前登 录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 sfzqb@songfa.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行 回答。 广东松发陶瓷股份有限公司（以下简称"公司"）已于 2023 年 4 月 27 日发 布公司 2022 年年度报告，为便于广大投资者更全面深入地了解公司 2022 年度经 营成果、财务状况，公司计划于 2023 年 05 月 30 日下午 14:00-15:00 举行 2022 年度业绩暨现金分红说明会，就投资者关心的问题进行交流。 一、 说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2022 年度的经营成果 及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的范围内 就投资者普遍关注的问题进行回答。 二、 说明会召开的时间、地点 （一） 会议召开时间：2023 年 05 月 30 日 下午 14:00-15:00 关于召开 2 ...

2022 年第三季度报告 证券代码：603268 证券简称：松发股份 广东松发陶瓷股份有限公司 2022 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比 上年同期增 | 年初至报告期末 | 年初至报告期 末比上年同期 | | --- | --- | --- | --- | --- | | | | 减变动幅度 | | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 90,320,964.86 | -8.19 | 195,273,086.05 | -31.22 | | 归属于上市公司股东的 | -56,834,361.41 | 不适用 | -96,343,949.58 | 不适用 | | 净利润 | | | | | | 归属于上市公司股东的 扣除非经常性损益的净 | -57,457,711.53 | 不适用 | -99,140,279.76 | 不 ...

Financial Performance - The company's operating revenue for the first half of 2022 was ¥104,952,121.19, a decrease of 43.43% compared to ¥185,513,021.73 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was -¥39,509,588.17, compared to -¥10,000,052.74 in the previous year[19]. - The basic earnings per share for the first half of 2022 was -¥0.32, compared to -¥0.08 in the same period last year[20]. - The weighted average return on net assets was -11.54%, down from -1.50% in the previous year[20]. - The decline in performance was attributed to the ongoing impact of the COVID-19 pandemic, which disrupted domestic logistics and delayed order shipments due to inflation affecting foreign customers[20]. - The company reported a net loss of -61,622,031.47, influenced by a decline in operating income and increased product costs due to natural gas price hikes[45]. - The company reported a net profit of 27.1 million yuan for 2019, which did not meet the performance commitment[70]. - The company reported a significant decline in user data, with a drop of 66.17% in certain segments, indicating challenges in maintaining customer engagement[52]. Cash Flow and Liquidity - The net cash flow from operating activities was ¥219,285.06, a significant improvement from -¥4,580,726.04 in the same period last year[19]. - Cash and cash equivalents decreased by 87.13% to 3,730,155.34, primarily due to payments for materials and bank loan repayments[44]. - The net cash flow from operating activities turned positive at approximately ¥219,285.06, compared to a negative cash flow of ¥4.58 million in the first half of 2021[117]. - The company's cash and cash equivalents at the end of the first half of 2022 were approximately ¥3.73 million, significantly down from ¥20.32 million at the end of the first half of 2021[118]. - The total cash and cash equivalents at the end of the period was ¥1,697,880.46, down from ¥6,230,475.02 at the end of the previous period[121]. Assets and Liabilities - The total assets decreased by 7.86% to ¥768,251,892.84 from ¥833,797,360.31 at the end of the previous year[19]. - The company's total assets were valued at CNY 670,204,231.09, reflecting its asset management efficiency[127]. - Total liabilities decreased from CNY 451,871,071.90 to CNY 426,574,069.74, a decline of around 5.6%[106]. - The company's equity attributable to shareholders decreased from CNY 362,206,175.19 to CNY 322,696,587.02, a decrease of about 10.9%[106]. - The total liabilities and equity at the end of the reporting period were CNY 736,392,547.04, indicating a stable financial position[127]. Operational Challenges - Increased costs were driven by a significant rise in natural gas prices and reduced production capacity due to maintenance issues with tunnel kiln equipment[20]. - The online education business, operated by a subsidiary, has been significantly affected by government regulations, leading to a near halt in operations during the reporting period[29]. - The ceramic business is positioned in the "3074 Daily Ceramic Products Manufacturing" sector, facing challenges such as high-quality product shortages and intense competition in low-end products[27]. Strategic Initiatives - The company aims to strengthen internal controls and cost reduction measures, with initial success in lean management practices[39]. - The company is actively pursuing market expansion strategies, including enhancing R&D capabilities to innovate product offerings[54]. - The company has established long-term stable relationships with energy suppliers, although high natural gas prices have impacted production costs[31]. - The company has participated in the formulation of several national and industry standards, enhancing its technical research and development capabilities[33]. Environmental Responsibility - The company is committed to environmental protection and has implemented a monitoring plan for clean production in 2022[39]. - The company has implemented clean energy "natural gas" for kiln fuel, reducing carbon emissions and achieving cleaner production[67]. - The company has established wastewater treatment facilities to ensure compliance with environmental regulations, with all wastewater treated and legally discharged[65]. - The company has committed to annual self-monitoring plans for environmental pollution, completing quarterly monitoring as required[66]. Shareholder and Governance - The company committed to maintaining independence in management, ensuring that senior management does not hold positions in other enterprises controlled by Hengli Group[75]. - The company guarantees the independence of its financial department and accounting system, ensuring no shared bank accounts with Hengli Group[75]. - The company will not engage in any business that competes directly or indirectly with the operations of Songfa Co. and its subsidiaries[77]. - The company has established a complete independent labor, personnel, and compensation management system, fully independent from Hengli Group[75]. Financial Reporting and Compliance - The financial statements prepared by the company comply with the requirements of the accounting standards, reflecting the financial position, operating results, changes in shareholders' equity, and cash flows accurately[143]. - The company's accounting currency is Renminbi (RMB)[146]. - The company follows specific accounting policies for revenue recognition and measurement as per relevant accounting standards[142]. - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired in a business combination[149].

2022 年第一季度报告 证券代码：603268 证券简称：松发股份 广东松发陶瓷股份有限公司 2022 年第一季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人卢堃、主管会计工作负责人林峥及会计机构负责人（会计主管人员）邱素玉保证季度 报告中财务报表信息的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比上年同期增减 | | | --- | --- | --- | --- | | | | 变动幅度(%) | | | 营业收入 | 50,032,531.66 | | -46.00 | | 归属于上市公司股东的净利润 | -21,544,482.30 | | 不适用 | | 归属于上市公司股东的扣除非经常 | -21,800 ...

Financial Performance - The company's operating revenue for 2021 was CNY 402,972,992.08, a decrease of 9.71% compared to CNY 446,318,598.99 in 2020[21]. - The net profit attributable to shareholders of the listed company was CNY -309,062,135.51, showing a significant decline from CNY 1,619,513.53 in the previous year[21]. - The net cash flow from operating activities was CNY -18,303,115.23, a decrease of 127.97% compared to CNY 65,447,696.29 in 2020[21]. - Total assets decreased by 25.83% to CNY 833,797,360.31 at the end of 2021, down from CNY 1,124,236,799.05 at the end of 2020[21]. - The net assets attributable to shareholders of the listed company were CNY 362,206,175.19, a decrease of 45.96% from CNY 670,204,231.09 in 2020[21]. - The company reported a revenue of 402.97 million yuan in 2021, a decrease of 9.71% compared to the previous year[31]. - The net profit attributable to the parent company was -309.06 million yuan, a decrease of 31.07 million yuan year-on-year[31]. - The basic earnings per share were -2.49 yuan, reflecting a decline of 25,000% compared to the previous year[22]. - The company recognized goodwill impairment losses totaling 24.92 million yuan, significantly impacting net profit and return on equity[23]. - The company reported a net cash flow from operating activities of -19.67 million yuan, indicating ongoing financial challenges[25]. - The company reported a revenue of CNY 402.97 million for the period, a decrease of 9.71% compared to the previous year[50]. - The net profit attributable to the parent company was CNY -309.06 million, a decrease of CNY 31.07 million year-on-year[50]. - The cost of sales increased by 20.06% to CNY 336.94 million, impacting overall profitability[51]. - The company reported a significant reduction in other receivables by 57.94% to CNY 17,478,729.82, attributed to the recovery of performance compensation from shareholders[70]. - The company reported a net profit of 1.6195 million yuan for the year 2020, a decrease of 94.30% compared to the previous year[166]. Business Operations - The ceramic business revenue increased by 6.61%, while the online education segment saw a dramatic decline of 90.77% due to regulatory changes[22]. - The company has expanded its sales channels by entering cross-border e-commerce platforms like Amazon and Alibaba, aiming to improve performance output[33]. - The company has established a new automated production line to enhance production efficiency and quality, while also reducing labor and management costs[33]. - The company has implemented strict internal control measures to manage rising costs, including the establishment of a lean team to improve operational efficiency[34]. - The company has focused on optimizing inventory management, improving inventory accuracy, and rationalizing stock levels based on sales plans[33]. - The company is adapting to the changing ceramic industry landscape, emphasizing high-quality, artistic, and environmentally friendly products to meet consumer demands[39]. - The company has faced challenges due to the "double reduction" policy in the education sector, leading to a significant shift in its business model[41]. - The company has established long-term stable partnerships with over 160 clients across more than 50 countries, including major retailers like Tesco and Walmart[49]. - The company developed over 3,000 new products annually, showcasing strong creative design capabilities[47]. - The company has significant investments in various subsidiaries, with total assets of RMB 38,402.95 million and a net asset value of RMB 22,443.26 million in its ceramic-related business[80]. - The company is focused on optimizing and integrating its operations to enhance competitiveness in the ceramic market[82]. - The company aims to enhance its overseas market share by strengthening cooperation with foreign distributors and customers, focusing on high-quality ceramic products and increasing product added value[84]. Market and Industry Trends - The ceramics industry revenue increased by 6.61% year-on-year, while the hotel supplies industry saw a significant increase of 272.26% due to diversified sales channel expansion[56]. - The ceramic industry is facing structural overcapacity and environmental pollution issues, but is expected to stabilize in the long term due to the essential nature of daily-use ceramics[82]. - The overall market recovery post-pandemic has shown a noticeable rebound in economic growth, which is expected to positively impact the ceramic industry[82]. - The ceramic industry is experiencing intense competition in low-end products, while high-quality products remain in short supply[82]. - The company is exposed to trade friction and exchange rate fluctuation risks, particularly with its products being settled in USD[89]. - The company has identified risks related to energy and raw material price fluctuations, which significantly impact its operating costs[89]. Governance and Compliance - The company has maintained compliance with corporate governance standards as per the relevant laws and regulations, ensuring the protection of shareholder rights[93]. - The company has established a governance structure that aligns with the requirements of the Company Law and the Securities Law[93]. - The company’s financial disclosures have been conducted in accordance with the Shanghai Stock Exchange listing rules, ensuring transparency[93]. - The company has not reported any significant differences in governance practices compared to the standards set by the China Securities Regulatory Commission[93]. - The company has not faced any penalties from securities regulatory authorities in the past three years[111]. - The company has established effective management controls over its subsidiaries, which include 8 subsidiaries and 2 joint ventures[134]. - The company has not reported any non-operating fund occupation or guarantee violations during the reporting period[162]. Future Outlook and Strategy - The company plans to adopt a cautious approach in response to market conditions and regulatory impacts on its education business[23]. - The company plans to continue investing in maintaining its competitive advantages to support sustainable profitability and market position[49]. - The company is committed to upgrading its information systems and modernizing supply chain management to improve market response speed[85]. - The company plans to implement a shareholder return plan for the next three years (2021-2023)[121]. - The company is considering strategic acquisitions to enhance its market position, with a budget of $100 million allocated for potential deals[102]. - The company provided a future outlook, projecting a revenue growth of 20% for the next fiscal year[102]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years[106]. Environmental Responsibility - The company is committed to environmental protection and has implemented energy-saving measures in line with national carbon neutrality goals[40]. - The company operates in the daily ceramic production sector and is not classified as a key pollutant unit by environmental protection authorities[138]. - The company has implemented wastewater treatment facilities for both production and domestic wastewater, ensuring compliance with environmental regulations[139]. - All kiln fuel used in production is clean energy (natural gas), contributing to reduced carbon emissions[140]. - The company has a commitment to environmental responsibility and has not faced any administrative penalties for environmental issues during the reporting period[138].

[Main Financial Data](index=1&type=section&id=%E4%B8%80%E3%80%81%20%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE) [Key Accounting Data and Financial Indicators](index=1&type=section&id=%28%E4%B8%80%29%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) In Q3 2021 and year-to-date, the company experienced a significant decline in several core financial metrics, with revenue slightly decreasing and net profit attributable to shareholders turning from profit to a substantial loss, worsening key ratios like EPS and ROE Key Financial Data for Q3 2021 and Year-to-Date | Item | Current Period (Q3 2021) | Year-to-Date (YTD 2021) | | :--- | :--- | :--- | | Operating Revenue | 98.3809 million yuan (-15.60% YoY) | 283.8939 million yuan (-0.94% YoY) | | Net Profit Attributable to Shareholders of Listed Company | -12.0935 million yuan (-306.89% YoY) | -22.0935 million yuan (-410.23% YoY) | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Items) | -12.6634 million yuan (-339.10% YoY) | -23.6452 million yuan (-680.81% YoY) | | Net Cash Flow from Operating Activities | Not Applicable | -26.7910 million yuan (-188.14% YoY) | | Basic Earnings Per Share (yuan/share) | -0.10 (-300.00% YoY) | -0.18 (-400.00% YoY) | Key Balance Sheet Data at Period End | Item | End of Current Period (2021-09-30) | End of Prior Year (2020-12-31) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 1,105.8541 million yuan | 1,124.2368 million yuan | -1.64% | | Shareholders' Equity Attributable to Shareholders of Listed Company | 648.5098 million yuan | 670.2042 million yuan | -3.24% | [Non-recurring Gains and Losses Items and Amounts](index=2&type=section&id=%28%E4%BA%8C%29%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%92%8C%E9%87%91%E9%A2%9D) Year-to-date, the company's total non-recurring gains and losses amounted to **1.5517 million yuan**, primarily driven by government grants recognized in current profit and loss totaling **2.5082 million yuan** Details of Non-recurring Gains and Losses Items (Year-to-Date) | Item | Amount (yuan) | | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | 61,545.35 | | Government Grants Recognized in Current Profit and Loss | 2,508,189.51 | | Other Non-operating Income and Expenses | -558,058.21 | | Other Gains and Losses Meeting the Definition of Non-recurring Items | 17,526.78 | | Less: Income Tax Impact | 269,235.12 | | Less: Impact on Minority Interests (After Tax) | 208,287.88 | | **Total** | **1,551,680.43** | [Analysis of Changes in Key Financial Indicators](index=3&type=section&id=%28%E4%B8%89%29%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87%E5%8F%91%E7%94%9F%E5%8F%98%E5%8A%A8%E7%9A%84%E6%83%85%E5%86%B5%E3%80%81%E5%8E%9F%E5%9B%A0) The significant decline in the company's profit metrics and EPS is primarily due to the 'Double Reduction Policy' impacting its subsidiary 'Tihu Brothers', while the deterioration in operating cash flow is attributed to increased international shipping costs and delayed order deliveries due to the pandemic - The company's net profit, non-recurring net profit, and EPS significantly decreased year-on-year (ranging from **-306.89% to -680.81%**), primarily due to the 'Double Reduction Policy' in the education sector impacting the profitability of its controlled subsidiary 'Tihu Brothers'[8](index=8&type=chunk) - Net cash flow from operating activities decreased by **188.14%** year-on-year, mainly due to increased international shipping costs and global pandemic-related port operational issues, leading to delayed order deliveries and extended working capital cycles, while supplier payments and expenses remained due on time[8](index=8&type=chunk) [Shareholder Information](index=4&type=section&id=%E4%BA%8C%E3%80%81%20%E8%82%A1%E4%B8%9C%E4%BF%A1%E6%81%AF) [Total Number of Shareholders and Top Ten Shareholders' Holdings](index=4&type=section&id=%28%E4%B8%80%29%E6%99%AE%E9%80%9A%E8%82%A1%E8%82%A1%E4%B8%9C%E6%80%BB%E6%95%B0%E5%92%8C%E8%A1%A8%E5%86%B3%E6%9D%83%E6%81%A2%E5%A4%8D%E7%9A%84%E4%BC%98%E5%85%88%E8%82%A1%E8%82%A1%E4%B8%9C%E6%95%B0%E9%87%8F%E5%8F%8A%E5%89%8D%E5%8D%81%E5%90%8D%E8%82%A1%E4%B8%9C%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%E8%A1%A8) As of the reporting period end, the company had **5,510** common shareholders, with the top two shareholders, Hengli Group Co., Ltd. and Lin Daofan, collectively holding over **52%**; notably, some shares held by Lin Daofan and all shares held by Liu Zhuangchao are pledged and frozen, respectively, and Lin Daofan (Director and General Manager) and Lin Qiulan (Deputy General Manager) are father and daughter - As of the end of the reporting period, the company had **5,510** common shareholders[10](index=10&type=chunk) Top 10 Shareholders' Holdings | Shareholder Name | Shareholding Ratio (%) | Number of Shares Held | Share Status | | :--- | :--- | :--- | :--- | | Hengli Group Co., Ltd. | 30.14 | 37,428,000 | None | | Lin Daofan | 22.26 | 27,644,000 | Pledged 19,300,000 | | Liu Zhuangchao | 5.95 | 7,392,000 | Frozen 7,392,000 | | Zhang Lihong | 1.66 | 2,055,079 | None | | Lin Qiulan | 1.42 | 1,764,000 | None | - Shareholder Lin Daofan (Company Director and General Manager) and Lin Qiulan (Company Deputy General Manager) are father and daughter[10](index=10&type=chunk) [Other Reminders](index=5&type=section&id=%E4%B8%89%E3%80%81%20%E5%85%B6%E4%BB%96%E6%8F%90%E9%86%92%E4%BA%8B%E9%A1%B9) [Significant Risk Warning](index=5&type=section&id=%E9%9C%80%E6%8F%90%E9%86%92%E6%8A%95%E8%B5%84%E8%80%85%E5%85%B3%E6%B3%A8%E7%9A%84%E5%85%B3%E4%BA%8E%E5%85%AC%E5%8F%B8%E6%8A%A5%E5%91%8A%E6%9C%9F%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5%E7%9A%84%E5%85%B6%E4%BB%96%E9%87%8D%E8%A6%81%E4%BF%A1%E6%81%AF) The company specifically warns investors about significant risks from the 'Double Reduction Policy', which severely impacted its controlled subsidiary Tihu Brothers (online education technology services), leading to a sharp decline in its Q1-Q3 revenue and profit; despite active transformation efforts, market uncertainties suggest future earnings may not meet expectations - The company explicitly states that the 'Double Reduction Policy', issued in July 2021, significantly impacted the core business of its controlled subsidiary Tihu Brothers, which provides technical services to online education institutions[12](index=12&type=chunk) Performance of Controlled Subsidiary Tihu Brothers in Q1-Q3 2021 | Metric | Amount | Year-on-Year Change | | :--- | :--- | :--- | | Main Business Revenue | 6.6220 million yuan | -89.06% | | Net Profit | -11.6112 million yuan | -129.10% | - The company warns that Tihu Brothers' business transformation involves complex product development and requires time to build market demand, leading to significant uncertainty regarding future earnings, urging investors to be aware of investment risks[12](index=12&type=chunk) [Quarterly Financial Statements](index=5&type=section&id=%E5%9B%9B%E3%80%81%20%E5%AD%A3%E5%BA%A6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) [Type of Audit Opinion](index=5&type=section&id=%28%E4%B8%80%29%E5%AE%A1%E8%AE%A1%E6%84%8F%E8%A7%81%E7%B1%BB%E5%9E%8B) The financial statements for this quarter are unaudited - The company's Q3 2021 financial statements are unaudited[4](index=4&type=chunk)[13](index=13&type=chunk) [Financial Statements](index=5&type=section&id=%28%E4%BA%8C%29%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section presents the unaudited consolidated balance sheet, income statement, and cash flow statement, indicating a slight decrease in total assets and shareholder equity, an increase in liabilities, a shift from profit to loss, and a negative operating cash flow, reflecting a tightening overall cash position [Consolidated Balance Sheet](index=5&type=section&id=%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of September 30, 2021, total assets were **1.106 billion yuan**, a **1.64%** decrease from the beginning of the year, while total liabilities increased by **11.24%** to **431 million yuan**, driven by higher short-term and long-term borrowings, and shareholders' equity attributable to the listed company decreased by **3.24%** to **649 million yuan** Key Items from Consolidated Balance Sheet | Item (Unit: yuan) | 2021-09-30 | 2020-12-31 | | :--- | :--- | :--- | | Total Assets | 1,105,854,139.85 | 1,124,236,799.05 | | Total Liabilities | 431,426,384.74 | 387,844,252.01 | | Total Equity Attributable to Parent Company Shareholders | 648,509,834.43 | 670,204,231.09 | | Minority Interests | 25,917,920.68 | 66,188,315.95 | [Consolidated Income Statement](index=8&type=section&id=%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) In Q1-Q3 2021, operating revenue was **284 million yuan**, largely flat year-on-year, but a **44.76%** surge in operating costs led to operating profit turning from a **25.85 million yuan** gain to a **27.39 million yuan** loss, resulting in a net loss attributable to parent company shareholders of **22.09 million yuan** compared to a **7.12 million yuan** profit in the prior year Key Items from Consolidated Income Statement (Q1-Q3 2021 vs Q1-Q3 2020) | Item (Unit: yuan) | 2021 Jan-Sep | 2020 Jan-Sep | | :--- | :--- | :--- | | Total Operating Revenue | 283,893,905.09 | 286,601,240.70 | | Total Operating Costs | 320,341,519.48 | 263,334,938.38 | | Operating Profit | -27,388,719.24 | 25,854,557.81 | | Total Profit | -27,897,475.45 | 26,536,176.20 | | Net Profit Attributable to Parent Company Shareholders | -22,093,508.61 | 7,121,654.27 | [Consolidated Cash Flow Statement](index=10&type=section&id=%E5%90%88%E5%B9%B6%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) In Q1-Q3 2021, net cash flow from operating activities significantly deteriorated to **-26.79 million yuan** from a **30.39 million yuan** inflow in the prior year, primarily due to increased cash paid for goods, while net cash from investing activities was a **9.40 million yuan** inflow and financing activities resulted in a **5.75 million yuan** outflow, with ending cash and cash equivalents at **12.71 million yuan**, a **23.54 million yuan** decrease from the beginning of the period Key Items from Consolidated Cash Flow Statement (Q1-Q3 2021 vs Q1-Q3 2020) | Item (Unit: yuan) | 2021 Jan-Sep | 2020 Jan-Sep | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -26,790,989.36 | 30,394,581.22 | | Net Cash Flow from Investing Activities | 9,397,461.60 | 1,507,254.91 | | Net Cash Flow from Financing Activities | -5,754,988.79 | -68,086,643.18 | | Net Increase in Cash and Cash Equivalents | -23,539,494.66 | -36,666,981.99 | | Ending Balance of Cash and Cash Equivalents | 12,713,814.78 | 33,427,165.40 | [Adjustments for First-time Adoption of New Lease Standards](index=12&type=section&id=%28%E4%B8%89%292021%20%E5%B9%B4%E8%B5%B7%E9%A6%96%E6%AC%A1%E6%89%A7%E8%A1%8C%E6%96%B0%E7%A7%9F%E8%B5%81%E5%87%86%E5%88%99%E8%B0%83%E6%95%B4%E9%A6%96%E6%AC%A1%E6%89%A7%E8%A1%8C%E5%BD%93%E5%B9%B4%E5%B9%B4%E5%88%9D%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) Effective January 1, 2021, the company adopted new lease standards, retrospectively adjusting the financial statements as of the adoption date, primarily decreasing 'Fixed Assets' by **33.77 million yuan** while increasing 'Right-of-Use Assets' by the same amount, and recognizing new 'Lease Liabilities' of **19.69 million yuan** with corresponding adjustments to 'Non-current Liabilities Due Within One Year' and 'Long-term Payables' - The company first adopted the new lease standards effective January 1, 2021, and made corresponding adjustments to its opening financial statements[25](index=25&type=chunk) Key Adjustment Items under New Lease Standards (2021-01-01) | Adjustment Item | Adjustment Amount (yuan) | | :--- | :--- | | Fixed Assets | -33,767,205.98 | | Right-of-Use Assets | +33,767,205.98 | | Non-current Liabilities Due Within One Year | -9,924,554.67 | | Lease Liabilities | +19,694,684.12 | | Long-term Payables | -9,770,129.45 |

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 185,513,021.73, representing a 9.10% increase compared to CNY 170,033,662.41 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was a loss of CNY 10,000,052.74, a decrease of 883.57% compared to a profit of CNY 1,276,212.70 in the previous year[19]. - The net cash flow from operating activities was a negative CNY 4,580,726.04, down 115.53% from CNY 29,502,052.67 in the same period last year[19]. - The total assets at the end of the reporting period were CNY 1,101,935,166.60, a decrease of 1.98% from CNY 1,124,236,799.05 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company decreased by 1.49% to CNY 660,204,178.35 from CNY 670,204,231.09 at the end of the previous year[19]. - Basic earnings per share for the first half of 2021 were CNY -0.08, a decrease of 900.00% compared to CNY 0.01 in the same period last year[20]. - The weighted average return on net assets was -1.5%, a decrease of 1.70 percentage points from 0.20% in the previous year[20]. - The company reported a significant increase in non-operating losses, with a net profit excluding non-recurring gains and losses of CNY -10,981,834.82 compared to CNY -1,225,119.65 in the previous year[19]. - The company reported a net profit of CNY 93,693,353.08 for the first half of 2021, compared to CNY 64,025,477.10 for the same period in 2020, indicating an increase of approximately 46.38%[108]. - The net profit for the first half of 2021 was a loss of CNY 13,618,523.78, compared to a profit of CNY 13,865,946.20 in the first half of 2020[111]. Revenue and Costs - Operating revenue increased by 9.10% to ¥185,513,021.73 compared to ¥170,033,662.41 in the previous year[39]. - Operating costs rose by 39.63% to ¥147,107,377.46 from ¥105,357,416.29 year-on-year[39]. - Total operating revenue for the first half of 2021 was CNY 185,513,021.73, an increase of 9.1% compared to CNY 170,033,662.41 in the first half of 2020[110]. - Total operating costs rose to CNY 206,896,148.50, up 30.4% from CNY 158,646,181.66 in the same period last year[110]. Cash Flow and Investments - The net cash flow from financing activities decreased to CNY -16,944,623.75 from CNY -34,746,768.80 in the previous year[119]. - The company reported a significant decrease in cash flow from financing activities, improving by 51.23% to -¥16,944,623.75 from -¥34,746,768.80[39]. - Net cash flow from investing activities increased by 135.70% to ¥5,830,577.54 compared to ¥2,473,750.72 in the previous year[39]. - Investment cash inflow totaled CNY 28,379,289.35, down from CNY 47,430,363.77 in the first half of 2020[119]. - The company maintained a strong cash position with 300 million available for future investments and growth initiatives[84]. Market and Industry Challenges - The ceramics industry in China faces challenges such as product structure imbalance and intense competition in low-end products[26]. - The online education sector is experiencing significant regulatory changes, impacting the company's subsidiary "Ti Hu Brothers" operations[27]. - The company faces market risks due to a slowdown in the ceramics industry, which may impact production and operations[55]. - Trade friction and exchange rate fluctuations pose risks, particularly with the company's reliance on USD for overseas sales[55]. - The company is exposed to raw material and energy price volatility, which significantly affects its cost structure[55]. Product Development and Innovation - The company has developed over 3,000 new product designs annually, emphasizing cultural elements in its product offerings[29]. - The company has not disclosed any new product developments or market expansion strategies in this report[6]. - New product launches are anticipated, including a next-generation product expected to contribute an additional 200 million in revenue by the end of the year[84]. - The company is actively expanding its market presence by participating in international trade fairs and entering cross-border e-commerce platforms like Amazon[33]. Corporate Governance and Management - The company’s board of directors saw a change in leadership, with Lu Kun elected as the new chairman following the resignation of Xu Mingdi[62]. - The company has not disclosed any significant updates regarding employee stock ownership plans or other incentive measures during the reporting period[64]. - The company has established a commitment to not seek control over the listed company, ensuring no agreements with third parties regarding control actions[72]. - The company has outlined a plan to address any delays in fulfilling compensation obligations, including potential penalties[71]. Environmental and Safety Practices - The company has implemented measures to reduce carbon emissions, utilizing clean energy "natural gas" for kiln fuel and employing dust reduction techniques in production[68]. - The company has established wastewater treatment facilities to ensure compliance with environmental regulations, with no environmental pollution incidents reported during the reporting period[67]. - The company has emphasized safety and environmental protection, conducting safety training and implementing clean production practices[34]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 5,927[93]. - The top ten shareholders hold a total of 77,000,000 shares, representing 62.63% of the total shares outstanding[94]. - The largest shareholder, Hengli Group Co., Ltd., holds 37,428,000 shares, accounting for 30.14% of the total shares[94]. - The company reported a profit distribution of -34,300,000.00, which represents a reduction in retained earnings for the current period[126]. Financial Position and Assets - The company's total current assets as of June 30, 2021, amount to 459,443,603.28 RMB, a decrease from 485,418,385.72 RMB at the end of 2020[102]. - Total assets as of June 30, 2021, amounted to CNY 1,101,935,166.60, a decrease from CNY 1,124,236,799.05 at the end of 2020, representing a decline of approximately 1.98%[103]. - The company's total equity decreased to CNY 688,474,023.26 from CNY 736,392,547.04, indicating a decline of approximately 6.52%[104]. - The total liabilities increased to CNY 413,461,143.34 from CNY 387,844,252.01, reflecting an increase of about 6.63%[104]. Accounting and Financial Reporting - The company adheres to the accounting standards and principles, ensuring that its financial statements accurately reflect its financial position and operating results[146]. - The company confirmed its ability to continue as a going concern for at least 12 months from the reporting date[144]. - The company applies the effective interest method for subsequent measurement of financial assets, recognizing gains or losses in profit or loss[162]. - The company recognizes expected credit losses for financial assets measured at amortized cost and those measured at fair value through other comprehensive income[169].

2021 年第一季度报告 公司代码：603268 公司简称：松发股份 广东松发陶瓷股份有限公司 2021 年第一季度报告 1 / 19 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 8 | 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 非经常性损益项目和金额 √适用 □不适用 单位：元 币种：人民币 | 项目 | 本期金额 | 说明 | | --- | --- | --- | | 非流动资产处置损益 | | | | 越权审批，或无正式批准文件，或偶发性的 | | | | 税收返还、减免 | | | 3 / 19 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 1,130,993,166.06 1,124,236,799.05 0.60 归属于上市公司股东的净资产 660,989,535.25 670,204,231.09 -1.37 年初至报告期末 上年初至上年报告 期末 比上年同期增减 (%) 经营活动产生的现金流量净额 -19, ...

Financial Performance - In 2020, the company achieved a net profit attributable to shareholders of 1,619,513.53 yuan, a decrease of 94.3% compared to 28,406,911.65 yuan in 2019[5]. - The company's operating revenue for 2020 was 446,318,598.99 yuan, down 23.1% from 580,368,752.36 yuan in 2019[21]. - Basic earnings per share decreased by 95.65% to CNY 0.01 in 2020 from CNY 0.23 in 2019[22]. - Total revenue for the year declined by 23.10%, with export sales dropping by 30.56%[22]. - Gross profit decreased by CNY 30.63 million year-on-year due to the decline in operating income[22]. - The net profit attributable to shareholders decreased significantly, directly impacting other profit metrics and return on equity[22]. - The company reported a total comprehensive income of RMB 20.63 million for 2020, compared to RMB 47.51 million in 2019, indicating a significant decline[192]. - The company’s total profit for 2020 was RMB 22.39 million, down 50.76% from RMB 45.52 million in 2019[191]. Cash Flow and Assets - The net cash flow from operating activities was 65,447,696.29 yuan, a decline of 16.9% compared to 78,757,925.09 yuan in 2019[21]. - Cash and cash equivalents decreased by 48.28% to CNY 36,253,309.44, primarily due to bank loan repayments[62]. - The total cash and cash equivalents at the end of 2020 were ¥36,253,309.44, down from ¥70,094,147.39 at the end of 2019[198]. - The company reported a net cash flow from operating activities of CNY 35.05 million in Q4 2020[24]. - The company reported a net cash flow from operating activities for 2020 of ¥65,447,696.29, a decrease of 16.5% compared to ¥78,757,925.09 in 2019[197]. Investments and R&D - R&D expenses totaled CNY 24,699,292.23, accounting for 5.53% of total operating revenue, with 153 R&D personnel representing 11.39% of the total workforce[60]. - The company has obtained 19 new patents in ceramic technology research and development during the reporting period[36]. - The company plans to increase investment in technology innovation and product development to maintain its competitive edge in the ceramics industry[81]. Market and Sales - The company is focused on expanding its ceramic product offerings and enhancing its market presence in the ceramics industry[31]. - The company has established long-term stable partnerships with over 160 clients across more than 50 countries, including major retailers like Tesco and Walmart[39]. - The company’s products are primarily exported to Europe, North America, Australia, and the Middle East, focusing on mid to high-end daily-use ceramics[38]. - The ceramic business revenue decreased by 28.13%, primarily due to reduced foreign orders[51]. Corporate Governance and Compliance - The company’s financial report has been audited and received a standard unqualified opinion from Huaxing Accounting Firm[4]. - The company has ensured that there are no agreements or actions that would harm the interests of the listed company or its shareholders[99]. - The company is focused on maintaining transparency and compliance with regulatory requirements in its financial reporting[99]. - The company has established a clear framework for accountability regarding profit commitments and compensation obligations[97]. Risks and Challenges - The company faces market risks due to the slowdown in the ceramics industry and potential declines in consumer demand[84]. - The company is exposed to trade risks and currency fluctuations, particularly with its products being settled in USD[84]. - The ceramics industry is facing challenges such as structural overcapacity and environmental pollution, but is expected to gradually move towards high-end, brand-oriented, and intelligent development[77]. Shareholder and Dividend Information - The company proposed no cash dividends, no bonus shares, and no capital reserve transfer to increase share capital for the 2020 fiscal year[5]. - The independent directors support the decision not to distribute profits for 2020, emphasizing the importance of maintaining cash flow for sustainable development[95]. - The cumulative distributable profit for the parent company at the end of 2020 was 64,025,477.10 RMB, down from 86,904,131.55 RMB at the beginning of the year[92]. Employee and Management Information - The total number of employees in the parent company is 456, while the main subsidiaries employ 887, resulting in a total of 1,343 employees[155]. - The total pre-tax remuneration for the board of directors and senior management was CNY 2,748,234 (approximately USD 276.20 thousand)[145]. - The company has established a competitive salary and benefits system, with performance bonuses linked to both company performance and individual performance[156]. Legal and Regulatory Matters - The company has not reported any major litigation or arbitration matters during the reporting period, indicating a stable legal standing[116]. - The company has not reported any penalties from securities regulatory agencies in the past three years[154]. - The company confirmed compliance with corporate governance standards as per relevant laws and regulations, with no violations reported[160].