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。 2022 年第三季度报告 重要内容提示： 证券代码：603330 证券简称：上海天洋 天洋新材（上海）科技股份有限公司 2022 年第三季度报告 2022 年第三季度报告 | 经营活动产生的现金 | 不适用 | 不适用 | -315,336,194.14 | | -474.91 | | --- | --- | --- | --- | --- | --- | | 流量净额 | | | | | | | 基本每股收益（元/ | -0.02 | -125.00 | 0.08 | -69.23 | | | 股） | | | | | | | 稀释每股收益（元/ | -0.02 | -125.00 | 0.08 | -69.23 | | | 股） | | | | | | | 加权平均净资产收益 | -0.54 | 减少 2.22 | 2.46 | 减少 6.32 | 个 | | 率（%） | | 个百分点 | | | 百分点 | | | 本报告期末 | | 上年度末 | 本报告期末 | 比上年 ...

Financial Performance - The company's operating income for the first half of 2022 was ¥675,986,539.27, representing a 51.28% increase compared to ¥446,847,142.23 in the same period last year [20]. - The net profit attributable to shareholders decreased by 52.72% to ¥32,139,534.12 from ¥67,972,992.23 year-on-year [20]. - The basic earnings per share dropped by 65.52% to ¥0.10 from ¥0.29 in the same period last year [21]. - The company reported a 50.05% increase in net profit after deducting non-recurring gains, amounting to ¥22,058,619.09 compared to ¥14,701,263.03 last year [20]. - The company's operating costs increased by 68.48% year-on-year, reflecting the rising prices of raw materials [51]. - The company achieved operating revenue of CNY 675.99 million, a year-on-year increase of 51.28% [46]. - The net profit attributable to shareholders was CNY 32.14 million, with a 50.05% increase in net profit after deducting non-recurring gains and losses [46]. - The company reported a total comprehensive income for the first half of 2022 of approximately 32.14 million, a decrease from 32.84 million in the same period last year [147]. Assets and Liabilities - The total assets increased by 17.13% to ¥2,079,485,868.64 from ¥1,775,364,174.14 at the end of the previous year [20]. - Total current assets as of June 30, 2022, amounted to RMB 1,156,096,845.22, an increase from RMB 966,114,545.52 at the beginning of the period, reflecting a growth of approximately 19.66% [125]. - Total liabilities amounted to CNY 940,098,590.60, up from CNY 638,894,947.58, reflecting an increase of about 47.0% [127]. - Current liabilities rose to CNY 762,599,339.98, compared to CNY 499,085,660.37, indicating a significant increase of approximately 52.8% [126]. - Short-term borrowings increased by 92.90% to CNY 449,027,156.55, reflecting a rise in working capital loans [55]. - The company's total liabilities at the end of the reporting period are CNY 166,143,079.07 [154]. Cash Flow - The net cash flow from operating activities was negative at -¥50,625,232.33, worsening from -¥30,894,086.41 year-on-year, primarily due to increased raw material procurement [20][23]. - The total cash inflow from operating activities was 730,645,930.68 RMB, while cash outflow was 781,271,163.01 RMB, resulting in a net cash outflow of 50,625,232.33 RMB [139]. - The company experienced a net decrease in cash and cash equivalents of 42,933,127.83 RMB during the first half of 2022 [140]. Research and Development - The company is actively increasing R&D investment in high-end electronic adhesive materials, achieving sales growth despite a poor overall performance in the consumer electronics sector [38]. - R&D expenses decreased by 3.94% to CNY 15,725,884.95 due to pandemic-related restrictions on activities [52]. - The company added 6 new national authorized patents in the first half of 2022, bringing the total to 135, including 117 invention patents [41]. Market and Growth - The revenue from photovoltaic encapsulation adhesive film reached ¥323,190,400, marking a significant growth of 250.69% compared to the previous year [22]. - The company aims to expand its market presence in photovoltaic materials and other innovative adhesive solutions, leveraging over a decade of product and technology accumulation [26]. - Despite the pandemic's impact, the company managed to develop 65 new franchisees in the first half of 2022, achieving growth while competitors faced declines of 20-30% [37]. Risk Management - Major risks faced by the company include policy risk, macroeconomic fluctuations, raw material price volatility, and foreign exchange risk [6]. - The company emphasizes the importance of monitoring risks related to new project implementation and capacity expansion [6]. - The company faces potential risks including policy changes that could affect tax benefits, macroeconomic fluctuations impacting demand, and safety risks associated with chemical production processes [69][70][71]. Environmental and Safety Compliance - The company is committed to environmental protection and safety management, ensuring compliance with national emission standards and continuously investing in safety and environmental measures [80]. - The company has established a wastewater treatment facility with a capacity of 150 tons per day, ensuring that treated wastewater meets national discharge standards [88]. - Nantong Tianyang achieved compliance with emission standards for waste gas through the implementation of clean production technologies and various treatment measures, including condensation and carbon fiber adsorption [89]. Corporate Governance - The report outlines the company's governance structure and responsibilities of the board and management [8]. - The company guarantees the authenticity, accuracy, and completeness of the semi-annual report, with all board members present at the meeting [7]. - There are no violations of decision-making procedures for external guarantees [6]. Shareholder Information - The total number of ordinary shareholders reached 15,934 by the end of the reporting period [114]. - The largest shareholder, Li Zhelong, holds 108,175,518 shares, accounting for 32.50% of total shares [116]. - The company has not reported any significant changes in shareholder structure during the reporting period [114].

Financial Performance - The company's operating revenue for Q1 2022 was ¥319,075,879.03, representing a year-on-year increase of 41.84%[5] - The net profit attributable to shareholders was ¥1,020,104.87, a decrease of 94.53% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥574,907.95, reflecting a decline of 103.42%[5] - The basic earnings per share were ¥0.004, a decrease of 96.67% compared to the previous year[6] - Net profit for Q1 2022 was ¥1,396,788.10, a significant decrease of 92.2% compared to ¥17,844,611.75 in Q1 2021[21] - The company reported a total profit of ¥3,876,116.08 for Q1 2022, down from ¥24,323,737.80 in Q1 2021[21] Cash Flow - The net cash flow from operating activities was -¥76,270,199.36, down 77.78% year-on-year[5] - Cash flow from operating activities in Q1 2022 was negative at -¥76,270,199.36, compared to -¥42,900,389.04 in Q1 2021[24] - Cash inflow from operating activities totaled ¥228,752,221.54 in Q1 2022, an increase from ¥204,112,635.21 in Q1 2021[24] - Cash outflow from operating activities increased to ¥305,022,420.90 in Q1 2022, compared to ¥247,013,024.25 in Q1 2021[24] - The net cash flow from investing activities was -$116,760,858.44, compared to -$11,582,515.66 in the previous period, indicating a significant increase in cash outflow for investments[25] - The total cash outflow from investing activities was $163,821,929.55, significantly higher than $59,535,544.70 in the previous period, suggesting increased capital expenditures[25] - The cash and cash equivalents at the end of the period were $77,355,164.83, down from $315,482,733.20 in the previous period, indicating a decrease in liquidity[25] - The net increase in cash and cash equivalents was -$118,162,986.20, contrasting with an increase of $267,670,599.45 in the previous period, highlighting a cash depletion[25] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,897,048,210.39, an increase of 6.85% from the end of the previous year[6] - The company's total liabilities increased to RMB 757.05 million from RMB 638.89 million year-on-year[18] - Total current assets as of March 31, 2022, amounted to RMB 1,033.07 million, compared to RMB 966.11 million at the end of 2021[16] - Cash and cash equivalents decreased to RMB 87.55 million from RMB 207.33 million at the end of 2021[16] Revenue Breakdown - The sales revenue of solar packaging film increased by 149.99% year-on-year, while wall fabric sales grew by 35.56%[10] - Revenue from photovoltaic encapsulation adhesive film reached RMB 127.80 million, a significant increase of 149.99% compared to the same period last year[14] - Total operating revenue for Q1 2022 reached ¥319,075,879.03, a 42% increase from ¥224,954,709.71 in Q1 2021[20] - Total operating costs for Q1 2022 were ¥313,094,303.43, up 55.5% from ¥201,360,068.72 in Q1 2021[21] Cost and Expenses - The increase in material costs by 29.6% year-on-year contributed to the decline in gross profit margin[10] - The unit cost of solar encapsulation adhesive film decreased by 16.47% year-on-year, contributing to improved production management[15] - Total operating expenses as a percentage of revenue decreased from 19.22% to 14.08% year-on-year, despite a 40% increase in sales revenue[15] - Research and development expenses for Q1 2022 were ¥8,916,245.45, up 35.5% from ¥6,580,865.26 in Q1 2021[21] Future Outlook - The company's gross margin is expected to recover in the future as the inventory of raw materials prepared at the end of 2021 is consumed[14] - The company plans to continue optimizing production processes and enhancing operational efficiency to support future growth[15] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 14,088[12] Accounting Standards - The company did not apply the new accounting standards starting from 2022, as indicated in the report[25]

Financial Performance - The company's operating revenue for 2021 reached ¥1,067,740,935.33, representing a 52.74% increase compared to ¥699,056,294.51 in 2020[23]. - Net profit attributable to shareholders for 2021 was ¥110,161,980.41, a significant increase of 112.72% from ¥51,788,448.07 in 2020[23]. - The company's total assets as of the end of 2021 were ¥1,775,364,174.14, reflecting a 25.65% increase from ¥1,412,889,114.00 at the end of 2020[24]. - The basic earnings per share for 2021 was ¥0.47, up 56.67% from ¥0.30 in 2020[25]. - The weighted average return on equity increased to 15.73% in 2021, up by 8.47 percentage points from 7.26% in 2020[25]. - The company achieved operating revenue of 1,067.74 million RMB in 2021, representing a year-on-year growth of 52.74%[36]. - The net profit attributable to shareholders of the listed company was 110.16 million RMB, an increase of 112.72% compared to the previous year[36]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 42.85 million RMB, up 4.42% year-on-year[36]. - The company reported a cash flow from operating activities of -42.90 million RMB in Q1 2021, but improved to 18.63 million RMB by Q4 2021[27]. - The company's gross margin has shown a gradual upward trend, aligning with the industry average, despite raw material procurement costs being higher than the industry leader Foster[39]. Dividend and Share Capital - The company plans to distribute a cash dividend of 1.39 CNY per 10 shares, totaling approximately 33.04 million CNY, representing a cash dividend payout ratio of 30%[5]. - The total share capital will increase from 237,732,774 shares to 332,825,884 shares after a capital reserve conversion of 4 shares for every 10 shares held[5]. Market Expansion and Product Development - The company is focused on expanding its product offerings in the hot melt adhesive market, particularly in photovoltaic packaging materials[11]. - The company plans to expand its photovoltaic encapsulation film production capacity by 450 million square meters, aiming for a total annual capacity of 510 million square meters[37]. - The company is investing in a new modern production base in Yantai, set to be operational in 2022, to meet the growing demand in the electronic adhesive sector[44]. - The company is leveraging its technological advantages in adhesive products, focusing on the development of new products for emerging battery technologies and enhancing product performance[40]. - The company is developing applications for heterojunction solar cell encapsulation films and technologies to extend component lifespan and improve efficiency[145]. - The company plans to expand the number of distributors in core regions to achieve full coverage and improve the quality of distributors through standardized management and services, aiming for a rapid increase in average sales per store in 2022[146]. Strategic Partnerships and Supply Chain Management - The company has established strategic partnerships with suppliers, including Hanwha Total and Lotte Chemical, to secure raw material supply for production expansion[37]. - The company is committed to enhancing its supply chain management capabilities and reducing procurement costs through strategic cooperation with upstream suppliers[145]. - The company has implemented strategic reserves for certain raw materials to mitigate price volatility risks and reduce procurement costs[118]. Research and Development - The company added 12 new national authorized patents in 2021, bringing the total to 129, including 111 invention patents[65]. - The company’s R&D expenses rose by 73.51% to CNY 37.99 million, reflecting its commitment to innovation[73]. - The company plans to invest 100 million RMB in R&D for new technologies aimed at enhancing product efficiency[175]. - The total R&D investment accounted for 3.56% of operating revenue, with 79 R&D personnel making up 8.9% of the total workforce[85][86]. Environmental and Social Responsibility - The company has a strong commitment to environmental and social responsibility, as outlined in its annual report[9]. - The company is focusing on health and environmental protection by developing eco-friendly products for home decoration, leveraging over 20 years of experience in producing environmentally friendly hot melt adhesives[143]. - The company is developing a new POE encapsulation film with enhanced weather resistance and packaging performance to extend the lifespan of solar modules[98]. Risks and Challenges - The company faces significant risks including policy risk, macroeconomic fluctuations, and raw material price volatility, which may impact future performance[7]. - The company is vulnerable to fluctuations in raw material prices, particularly petrochemical products, which could increase production costs if not passed on to customers[152]. - The company has initiated legal actions to address overdue accounts receivable, which have increased due to macroeconomic pressures from the pandemic[154]. - The company faces risks related to policy changes that could impact its profitability, particularly if tax incentives for high-tech enterprises are altered[149]. Governance and Management - The company has established an investor relations management system to enhance communication with investors, ensuring timely responses to inquiries while adhering to information disclosure regulations[168]. - The company has not reported any major differences in governance compared to regulations set by the China Securities Regulatory Commission[169]. - The company has implemented measures to ensure the independence of its operations from its controlling shareholders[169]. - The total remuneration for the board of directors and senior management during the reporting period amounted to 399.91 million yuan[172]. - The company has established specialized committees under the board, including an audit committee and a compensation and assessment committee[183]. Employee and Labor Information - The total number of employees in the parent company and major subsidiaries is 890, with 495 in production, 109 in sales, and 80 in technical roles[192]. - The company has a total of 21 retired employees that need to be accounted for in financial obligations[192]. - The company has a total of 4 employees with a doctoral degree and 30 with a master's degree, indicating a focus on skilled personnel[192].

2021 年第三季度报告 证券代码：603330 证券简称：上海天洋 上海天洋热熔粘接材料股份有限公司 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、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 报表信息的真实、准确、完整。 第三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 | | 年初至报告期 末比上年同期 | | --- | --- | --- | --- | --- | | | | 减变动幅度 | 年初至报告期末 | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 291,597,598.71 | 49.34 | 738,444,740.94 | ...

Financial Performance - The company reported a total revenue of 500 million RMB for the first half of 2021, representing a 15% increase compared to the same period last year[19]. - The company's operating revenue for the first half of the year reached approximately ¥446.85 million, a 73.35% increase compared to the same period last year[21]. - Net profit attributable to shareholders was approximately ¥67.97 million, representing a significant increase of 685.80% year-over-year[21]. - The basic earnings per share (EPS) increased to ¥0.41, up 583.33% from ¥0.06 in the same period last year[22]. - The weighted average return on equity rose to 9.77%, an increase of 8.36 percentage points compared to the previous year[22]. - The company reported a total operating income of 446.8471 million yuan, a 73.35% increase year-on-year, and a net profit attributable to shareholders of 67.973 million yuan, up 685.80% from the previous year[45]. - The company achieved operating revenue of 217.93 million yuan and a net profit of 9.66 million yuan during the reporting period[60]. - The net profit for the first half of 2021 was ¥65,740,573.95, compared to ¥9,165,057.58 in the first half of 2020, representing a growth of 617.5%[130]. Cost and Expenses - Gross profit margin for the first half of 2021 was 30%, a decrease of 5% from the previous year, primarily due to rising raw material costs[19]. - Operating costs increased to ¥324.12 million, reflecting a 76.76% rise due to higher sales volume and raw material prices[50]. - Sales expenses surged by ¥13.95 million, a 69.57% increase, primarily due to significant advertising investments for the hot melt wall fabric business[50]. - Management expenses rose by ¥10.20 million, a 45.07% increase, mainly driven by higher salaries and the recruitment of high-end talent[50]. - Research and development expenses increased by 10% year-on-year, focusing on new adhesive technologies and applications[19]. - Research and development expenses increased by 198.71%, amounting to ¥16.37 million, due to higher material costs and personnel expenses[50]. Production and Capacity - The company plans to expand its production capacity by 20% in the next year to meet increasing market demand[8]. - The company has invested in 4 new production lines, adding approximately 27.6 million square meters of capacity[33]. - The company plans to accelerate the expansion of high-quality production capacity for photovoltaic films, leveraging supportive policies for renewable energy projects[43]. Market and Sales - Sales of photovoltaic packaging films grew by 43.42%, while sales of hot melt wall fabrics surged by 104.80% year-over-year[23]. - The sales revenue of the company's hot-melt wall cloth increased by 104.80% compared to the same period in 2020[34]. - The company expanded its dealer network to 439, an increase of 131 dealers compared to the end of 2020, with overall dealer sales up 154% year-on-year[34]. - In the electronic materials sector, the production volume of adhesive products reached 315.28 tons, a year-on-year increase of 278.12%[38]. - Sales revenue from electronic adhesives was 53.0038 million yuan, a year-on-year increase of 195.83%, with the product's gross margin at 51.85%[38]. Financial Position - The company maintains a strong cash position with no significant debt, allowing for potential future acquisitions[19]. - Total assets increased to approximately ¥1.77 billion, reflecting a growth of 25.33% from the previous year[21]. - The company reported a significant increase in trade financial assets, up 311.10% to ¥158.19 million, due to increased investments in financial products[55]. - The total equity attributable to the parent company at the end of the reporting period is CNY 1,118,690,338.79, an increase from CNY 696,578,681.89 at the beginning of the year, representing a growth of approximately 60.5%[147]. Risks and Challenges - The company is facing risks including macroeconomic fluctuations and raw material price volatility, which could impact future performance[8]. - The company faces risks including policy changes that could affect tax benefits and macroeconomic fluctuations impacting product demand[67]. - Safety production risks are present due to the chemical processes involved in manufacturing certain products[67]. - The overall raw material cost for the company's hot melt adhesive products accounts for over 80% of production costs, with fluctuations in petrochemical product prices impacting profitability[70]. - The company is experiencing increased accounts receivable collection periods due to macroeconomic pressures from the pandemic, which may lead to higher bad debt risks[70]. Environmental and Compliance - The company is committed to environmental protection and safety management, ensuring compliance with national standards to mitigate regulatory risks[72]. - The company has a wastewater treatment facility with a capacity of 150 tons per day, ensuring compliance with national discharge standards[81]. - The company implements comprehensive pollution control measures, including the use of closed and automated equipment to reduce emissions[81]. - The company has established a noise control system that meets the industrial noise emission standards[83]. - The company has a three-year emergency response plan for environmental incidents, with the latest version prepared in January 2021[85]. Corporate Governance - The board of directors confirmed that there are no significant omissions or misleading statements in the half-year report, ensuring transparency[9]. - The company has no non-operating fund occupation by controlling shareholders or related parties, ensuring financial integrity[7]. - The company has no significant litigation or arbitration matters during the reporting period, indicating a stable legal standing[90]. - The company has a good integrity status during the reporting period, with no unfulfilled court judgments or significant debts due[90]. Shareholder Information - The company completed a non-public issuance of 16,929,124 shares on March 17, 2021, increasing the total share capital to 169,809,124 shares[101]. - Following the profit distribution on July 16, 2021, the company distributed cash dividends of 20,716,713.13 RMB and increased share capital by 67,923,650 shares, resulting in a new total of 237,732,774 shares[103]. - The top shareholder, Li Zhelong, holds 55,191,591 shares, representing 32.50% of the total shares[110]. - The total number of shares held by the top ten shareholders is 92,000,000 shares, which is a significant portion of the company's equity[110]. - The company has a total of 16,929,124 shares under lock-up conditions, which will be released on September 22, 2021[106].

Dividend and Profit Distribution - The company plans to distribute a cash dividend of 1.22 CNY per 10 shares, resulting in a total cash dividend of approximately 20.48 million CNY (including tax) based on 167,829,578 shares[7]. - The cash dividend payout ratio for the year is 40.06%[7]. - The cash dividend for 2019 was 0.73 CNY per 10 shares, totaling 7,971,600.00 CNY, accounting for 46.92% of the net profit attributable to ordinary shareholders[144]. - The cash dividend for 2018 was 2.26 CNY per 10 shares, amounting to 17,628,000.00 CNY, which represented 50.12% of the net profit attributable to ordinary shareholders[144]. - The company committed to distributing no less than 30% of the annual distributable profit as cash dividends, as per the commitment made in September 2017[146]. - The company also made a commitment in July 2020 to distribute no less than 30% of the annual distributable profit as cash dividends following the acquisition of Yantai Taisheng[146]. - The company has fulfilled its commitments regarding cash dividends and profit distribution as of the reporting period[146]. - The company has not proposed any cash profit distribution plan despite having positive distributable profits during the reporting period[145]. Financial Performance - The company's operating revenue for 2020 was CNY 699,056,294.51, representing a 6.08% increase compared to CNY 659,004,575.61 in 2019[24]. - Net profit attributable to shareholders of the listed company surged by 261.83% to CNY 51,788,448.07 in 2020 from CNY 14,312,950.68 in 2019[24]. - The basic earnings per share increased to CNY 0.34 in 2020, up 277.78% from CNY 0.09 in 2019[25]. - The company's total assets reached CNY 1,412,889,114.00 at the end of 2020, a 14.56% increase from CNY 1,233,330,433.95 in 2019[24]. - The company's net assets attributable to shareholders decreased by 5.29% to CNY 653,904,086.61 at the end of 2020 from CNY 690,392,946.61 at the end of 2019[24]. - The weighted average return on equity rose to 7.26% in 2020, an increase of 4.96 percentage points from 2.30% in 2019[25]. - The company's overall gross margin increased by 2.13 percentage points to 30.16% in 2020[64]. Market and Product Development - The company is focused on developing new adhesive technologies and expanding its market presence[16]. - The company is focusing on the development of high-performance environmentally friendly adhesive materials, which are gaining recognition in various fields and have significant strategic value[33]. - The company’s new product, the hot melt wall fabric, utilizes a patented four-layer composite technology and addresses consumer pain points in home decoration, with a promising market outlook[33]. - The adhesive industry in China is projected to grow at an average annual rate of 4.2% in production and 4.3% in sales during the 14th Five-Year Plan period[37]. - The company is expanding its market presence through partnerships with leading property companies to enhance customer traffic channels and market share[35]. - The company aims to improve production efficiency and product quality in response to increasing domestic and international market demands[37]. - The company is actively expanding its product offerings, including new products like adhesive films to meet the rising demand in the protective clothing and reflective materials markets[46]. Research and Development - The company has made significant investments in R&D to develop new products and improve existing product lines, ensuring competitiveness in the market[64]. - The company added 17 new national authorized patents in 2020, including 15 invention patents[56]. - The company is focusing on enhancing its R&D capabilities to improve profitability, with specific product development in areas such as electronic adhesives for new energy, lightweight adhesives for automotive and rail transport, functional films, special nylon, and biodegradable materials[134]. - The company plans to develop a series of new polyurethane hot melt adhesives, including a long skin time wet curing type[93]. - The company is exploring dual-system curing adhesives to enhance production efficiency in electronic assembly and industrial motor assembly sectors[96]. Risk Management - The company faces significant risks including policy risk, macroeconomic fluctuations, and raw material price volatility, which may impact future performance[10]. - The company is addressing risks related to accounts receivable due to potential delays in customer payments, exacerbated by macroeconomic changes[140]. - The company is exposed to foreign exchange risks, particularly related to USD transactions for certain products and raw materials, which could affect financial performance[140]. - The company has implemented strategic reserves for certain raw materials to mitigate price volatility risks[109]. - The company is committed to environmental compliance and safety management, investing in sustainable practices to mitigate risks associated with regulatory changes[142]. Acquisitions and Partnerships - The company acquired 100% equity of Jiangsu Defarui for a total consideration of 88 million yuan, completing the acquisition on June 2020[115]. - The company purchased 65% equity of Yantai Taiseng Chemical Technology Co., Ltd. for a total price of 56.901 million yuan, with the acquisition completed in August 2020[116]. - The company plans to strengthen cooperation with property companies, targeting business partnerships with 30-40 property firms by the end of 2021 to enhance project execution capabilities[133]. Environmental and Compliance - The company has established a wastewater treatment facility with a capacity of 150 tons per day, ensuring compliance with national discharge standards[185]. - The company has implemented comprehensive pollution control measures, including the installation of online monitoring systems for VOCs and particulate matter[189]. - The company has a robust environmental management system in place, focusing on pollution prevention and sustainable practices[186]. - The company strictly adheres to environmental protection regulations and implements a "three simultaneous" system for new projects[194]. Shareholder and Governance - The company’s major shareholders have pledged to maintain control and stability in strategic decision-making during the lock-up period[149]. - The company’s board and senior management have committed to not engage in unfair benefit transfers or damage the company's interests[149]. - The compensation system for the board or remuneration committee will be linked to the execution of the company's return compensation measures[150].

Financial Performance - Operating revenue rose by 83.14% to CNY 224,954,709.71 year-on-year[6] - Net profit attributable to shareholders increased by 183.08% to CNY 18,660,301.17 compared to the same period last year[6] - Net profit after deducting non-recurring gains and losses surged by 227.15% to CNY 16,797,391.59[6] - Basic and diluted earnings per share both reached CNY 0.12, a 200% increase from the previous year[6] - Total operating revenue for Q1 2021 reached ¥224,954,709.71, a significant increase of 83% compared to ¥122,831,992.35 in Q1 2020[40] - Net profit for Q1 2021 was ¥17,844,611.75, representing a 164% increase from ¥6,748,170.64 in Q1 2020[42] - The company reported a total profit of ¥24,323,737.80 for Q1 2021, up from ¥9,033,304.59 in Q1 2020, reflecting a 169% increase[42] Assets and Liabilities - Total assets increased by 24.82% to CNY 1,763,527,726.62 compared to the end of the previous year[6] - The company's total current assets reached RMB 989,088,005.92, up from RMB 662,959,027.06 at the end of 2020[32] - Total liabilities amounted to ¥704,007,793.82, compared to ¥697,704,922.79, showing a slight increase of about 0.2%[34] - Shareholders' equity reached ¥1,059,519,932.80, up from ¥715,184,191.21, marking a significant increase of approximately 48%[34] - Current liabilities rose to ¥516,964,513.51 from ¥499,999,071.25, reflecting an increase of approximately 3.9%[33] Cash Flow - Cash flow from operating activities showed a significant improvement, with a net outflow of CNY 42,900,389.04 compared to a much smaller outflow of CNY 608,259.75 in the previous year[6] - Cash inflow from operating activities in Q1 2021 was ¥204,112,635.21, compared to ¥127,264,323.55 in Q1 2020, marking a 60% increase[47] - The net cash flow from operating activities for Q1 2021 was -42,900,389.04 RMB, compared to -608,259.75 RMB in Q1 2020, indicating a significant decline in operational performance[48] - The company reported a net increase in cash and cash equivalents of 267,670,599.45 RMB for Q1 2021, contrasting with a decrease of -16,827,338.07 RMB in Q1 2020[49] Shareholder Information - The total number of shareholders reached 5,700 by the end of the reporting period[9] - The largest shareholder, Li Zhelong, holds 32.50% of the shares, with 55,191,591 shares pledged[9] Research and Development - Research and development expenses surged by 143.38% to ¥6,580,865.26 from ¥2,703,967.96, reflecting the company's commitment to enhancing R&D investment[13] - The company incurred a tax expense of ¥6,479,126.05 in Q1 2021, compared to ¥2,285,133.95 in Q1 2020, which is an increase of 184%[42] Capital Raising and Investments - The total amount raised from the non-public offering was ¥386,999,774.64, with a net amount of ¥373,853,548.23 after deducting issuance costs[20] - The company completed a non-public offering, increasing its capital by 16,929,124 shares, which will not change the control of the company[21] - The company expects the fundraising projects to improve profitability and market share in the hot melt adhesive sector, contributing to sustainable development[21] Other Financial Metrics - The company reported a significant increase in prepayments, which rose by 182.88% to ¥42,516,842.74 from ¥15,030,155.27, mainly due to increased advance payments for imported raw materials[11] - The company’s sales expenses increased by 57.67% to ¥14,584,051.04 from ¥9,249,660.39, attributed to heightened promotional activities in the wall fabric division[12] - The company received a government subsidy of up to RMB 41 million related to the asset transfer, which will impact current profits[29]

Financial Performance - Operating income decreased by 5.40% to CNY 453,027,119.10 for the first nine months of the year[6] - Net profit attributable to shareholders increased by 101.20% to CNY 30,894,485.32 for the first nine months[6] - Basic earnings per share doubled to CNY 0.20 from CNY 0.10[8] - The company reported a net loss of CNY 680,443.57 from non-recurring items for the first nine months[11] - The company's revenue for Q3 2020 increased by 10.20% year-on-year[17] - Net profit for Q3 2020 was ¥22,933,437.58, significantly higher than ¥4,942,146.17 in Q3 2019, marking a year-over-year increase of 364.5%[30] - The company's net profit is expected to see significant growth compared to the same period last year due to improved operational conditions[18] Assets and Liabilities - Total assets increased by 5.19% to CNY 1,297,343,307.39 compared to the end of the previous year[6] - The total current assets as of September 30, 2020, amounted to ¥561,185,894.29, compared to ¥546,339,841.67 at the end of 2019[21] - The company's total assets increased to ¥1,297,343,307.39 as of September 30, 2020, up from ¥1,233,320,168.97 at the end of 2019[23] - The total liabilities rose to ¥654,296,694.64 as of September 30, 2020, compared to ¥537,641,871.88 at the end of 2019[22] - Total liabilities increased to ¥272,619,262.76 in Q3 2020 from ¥258,902,740.54 in Q3 2019, representing a growth of 5.5%[27] - Shareholders' equity decreased to ¥663,689,660.15 in Q3 2020 from ¥675,367,361.80 in Q3 2019, a decline of 1.0%[27] Cash Flow - Net cash flow from operating activities increased by 44.92% to CNY 29,553,791.64 for the first nine months[6] - Cash flow from operating activities for Q3 2020 was 29,553,791.64, a 44.92% increase compared to the same period last year[16] - The net cash flow from operating activities for Q3 2020 was ¥29,553,791.64, an increase from ¥20,393,155.78 in Q3 2019, representing a growth of approximately 45.5%[38] - Total cash inflow from operating activities for the first three quarters of 2020 was ¥263,792,725.43, compared to ¥276,856,224.78 in the same period of 2019, showing a decrease of about 4.2%[41] - The net cash flow from investing activities for Q3 2020 was -¥100,913,041.34, slightly improved from -¥105,469,412.70 in Q3 2019[39] - The net cash flow from financing activities for Q3 2020 was ¥46,904,357.00, up from ¥26,829,543.13 in Q3 2019, reflecting a growth of about 74.8%[39] - The total cash and cash equivalents at the end of Q3 2020 were ¥40,584,750.93, down from ¥57,559,351.33 at the end of Q3 2019, a decrease of approximately 29.5%[39] Shareholder Information - The total number of shareholders reached 5,827 by the end of the reporting period[12] - The largest shareholder, Li Zhelong, holds 36.10% of the shares, with 9,604,000 shares pledged[12] Market and Product Development - The company is focusing on expanding its market presence and enhancing product development strategies[6] - The gross profit margin for high-margin products exceeded 45%, with reactive adhesive products' revenue growing by 77.10% year-on-year[17] - Sales revenue for electronic adhesives and PUR products increased by 53.03% and 161.95% respectively[17] - Sales revenue from hot melt wall cloth distributors grew by 54.42% year-on-year[17] - The average gross profit margin for the first nine months of 2020 increased by 2.76% year-on-year, reaching 30.58%[17] Expenses - The company's financial expenses increased by 75.44% year-on-year, primarily due to increased borrowings[16] - Research and development expenses for Q3 2020 were ¥5,587,325.61, compared to ¥5,249,151.68 in Q3 2019, indicating an increase of 6.4%[30] - Financial expenses for Q3 2020 rose to ¥5,641,705.08 from ¥1,682,521.83 in Q3 2019, a significant increase of 235.5%[30] Inventory and Goodwill - The company reported a decrease in inventory to ¥150,413,330.43 as of September 30, 2020, from ¥153,706,732.57 at the end of 2019[21] - The goodwill increased by 92.82% to 75,437,242.44 due to the acquisition of a subsidiary[15] - Long-term equity investment increased to ¥75,437,242.44 as of September 30, 2020, compared to ¥39,122,242.44 at the end of 2019[22]

Financial Performance - The company's operating revenue for the first half of the year was ¥258.19 million, a decrease of 14.53% compared to ¥302.09 million in the same period last year[19]. - Net profit attributable to shareholders was ¥9.22 million, down 15.44% from ¥10.90 million year-on-year[19]. - The net profit after deducting non-recurring gains and losses was ¥7.04 million, a decline of 28.96% from ¥9.91 million in the previous year[19]. - The company's basic earnings per share decreased by 20.00% to ¥0.08 from ¥0.10 year-on-year[20]. - The weighted average return on net assets fell by 0.27 percentage points to 1.50% compared to 1.77% in the previous year[20]. - The company's total assets rose by 2.63% to ¥1,101.03 million compared to ¥1,072.86 million at the end of the previous year[19]. - The company's net assets attributable to shareholders increased slightly by 0.21% to ¥610.54 million from ¥609.29 million at the end of the previous year[19]. - The company's cash flow from operating activities significantly increased to ¥15.42 million, compared to a negative cash flow of ¥4.50 million in the same period last year, representing a 442.36% improvement[19]. Market and Product Development - The company is focused on developing new products and technologies, particularly in the hot melt adhesive sector[10]. - Revenue from new products, specifically reactive adhesives, grew by 52.51% year-on-year, with electronic adhesives and PUR products increasing by 16.03% and 181.67% respectively[19]. - The company plans to focus on expanding its product offerings in the environmentally friendly adhesive market, particularly in the areas of hot melt wall coverings and reactive adhesives, which are expected to drive future growth[27]. - The company has shifted its business strategy to focus on distributors as the primary operating model, moving away from direct sales and engineering channels[29]. - The company is actively developing new products and expanding applications of hot melt adhesive films in safety protection and other new fields[39]. - The company plans to leverage the advantages of its hot-melt membrane wall cloth to expand market share in the home renovation sector, targeting a significant breakthrough in the old house renovation market[47]. Risks and Challenges - Major risks faced by the company include policy risks, economic slowdown due to COVID-19, and fluctuations in raw material prices[6]. - The ongoing COVID-19 pandemic poses risks to the company's financial status and operational performance due to global economic slowdown and supply chain disruptions[77]. - The company faces potential risks from policy changes affecting tax incentives for high-tech enterprises, which could impact profitability[76]. - The company faces risks of declining gross profit margins due to potential increases in direct labor costs and manufacturing expenses, as well as intensified market competition[78]. - The company has initiated legal actions against overdue accounts receivable to mitigate the risk of bad debts, which may increase due to macroeconomic pressures from the pandemic[79]. Corporate Governance and Compliance - The company has not engaged in non-operating fund occupation by controlling shareholders or provided guarantees in violation of regulations[6]. - The company emphasizes the importance of accurate and complete financial reporting, with key personnel affirming the report's integrity[7]. - The company maintains a good integrity status, with no significant debts or court judgments unmet during the reporting period[92]. - The company has not proposed any profit distribution or capital reserve increase for the half-year period, indicating a focus on reinvestment[84]. - The company has not changed its accounting firm during the audit period, and there are no non-standard audit reports[89]. Subsidiaries and Acquisitions - The company operates several wholly-owned subsidiaries, including Kunshan Tianyang and Nantong Tianyang, enhancing its market presence[10]. - The company acquired Yantai Taisheng Fine Chemical Technology Co., Ltd., enhancing its position in the electronic industrial adhesive sector[54]. - The company acquired 100% equity of Jiangsu Defarui, establishing a complete industrial chain in the hot melt wall fabric market[56]. - The company is currently in the process of deregistering Hong Kong Tianyang due to underperformance in recent years[72]. Financial Management - The company has established a comprehensive risk management framework to address potential operational and market risks[6]. - The company has committed to strict environmental protection measures, ensuring compliance with national standards, and is investing in safety and environmental training[81]. - The company has a retained earnings balance of 147,561,656.46, which supports future growth initiatives[153]. - The company has set aside 31,200,000.00 for capital reserves, indicating a proactive approach to financial management[156]. Legal Matters - The company reported a significant lawsuit involving a claim of 1,290,725.00 RMB for product quality issues, currently in the first instance stage[91]. - Another lawsuit involves a claim of 1,277,576.87 RMB for unpaid goods, which is in the execution stage[90]. - The company has a total of 995,428.18 RMB in claims from a civil lawsuit regarding overdue payments, currently in the first instance stage[91]. Shareholder Information - The total number of shares increased from 109,200,000 to 152,880,000 after a cash dividend of 0.73 RMB per 10 shares and a capital reserve increase of 4 shares for every 10 shares held[115]. - The largest shareholder, Li Zhelong, holds 39,422,565 shares, representing 36.10% of total shares, with 19,667,492 shares pledged[120]. - The company appointed Qin Jiawei as the new financial officer on June 15, 2020, following the resignation of Zhang Xu[123].