公司分别于 2020 年 8 月 25 日、2020 年 9 月 15 日召开第四届董事会第四次 会议、2020 年第二次临时股东大会，审议通过了《关于<亚士创能科技（上海） 股份有限公司第一期员工持股计划（草案）>及其摘要的议案》《关于<亚士创能 科技（上海）股份有限公司第一期员工持股计划管理办法>的议案》。具体内容详 见公司分别于 2020 年 8 月 26 日、2020 年 9 月 16 日在上海证券交易所网站 （http://www.sse.com.cn）及指定信息披露媒体上披露的相关公告。 本期员工持股计划存续期不超过 36 个月，自股东大会审议通过本员工持股 计划并且员工持股计划成立之日起计算，即 2020 年 10 月 16 日至 2023 年 10 月 15 日。 截至本公告披露日，本期员工持股计划共持有公司股份 2,410,148 股，占公 司目前股本总额的 0.56%。 证券代码：603378 证券简称：亚士创能 公告编号：2023-063 亚士创能科技（上海）股份有限公司 关于第一期员工持股计划存续期延长的公告 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 ...

Financial Performance - The company's operating revenue for Q1 2023 was CNY 491,474,504.61, representing a year-on-year increase of 0.72%[5] - The net profit attributable to shareholders was a loss of CNY 15,960,855.71, with a diluted earnings per share of -CNY 0.04[6] - The company reported a net profit of RMB 2,235,306.37 in Q1 2023, compared to RMB 5,858,226.39 in Q1 2022, indicating a decline of about 61.9%[16] - The net profit for Q1 2023 was -15,960,855.71 RMB, a decrease from -38,042,051.11 RMB in Q1 2022, showing an improvement of approximately 58% year-over-year[17] - The operating profit for Q1 2023 was -17,237,021.30 RMB, compared to -42,983,161.27 RMB in the same period last year, indicating a significant reduction in losses[17] - Basic and diluted earnings per share for Q1 2023 were both -0.04 RMB, an improvement from -0.13 RMB in Q1 2022[18] Cash Flow - The net cash flow from operating activities was -CNY 194,436,328.74, indicating a significant cash outflow[5] - Cash flow from operating activities was -194,436,328.74 RMB, an improvement from -415,129,146.81 RMB in Q1 2022[18] - The company reported cash flow from investing activities of -118,224,115.96 RMB, compared to -240,834,734.76 RMB in the previous year, indicating a reduction in cash outflow[19] - Cash flow from financing activities was 227,920,206.45 RMB, a decrease from 439,549,565.69 RMB in Q1 2022, showing a decline of about 48%[19] - The company experienced a net increase in cash and cash equivalents of -84,742,161.28 RMB during the quarter, compared to -216,415,423.33 RMB in the same period last year[19] Assets and Liabilities - Total assets at the end of the reporting period were CNY 6,493,802,714.16, down 1.36% from the end of the previous year[6] - Total assets as of March 31, 2023, were RMB 6,493,802,714.16, down from RMB 6,583,262,247.38 at the end of 2022, representing a decrease of about 1.4%[15] - Total liabilities decreased to RMB 4,784,201,727.79 as of March 31, 2023, from RMB 4,857,700,405.30 at the end of 2022, indicating a reduction of approximately 1.5%[14] - The company's equity attributable to shareholders was RMB 1,709,600,986.37 as of March 31, 2023, down from RMB 1,725,561,842.08 at the end of 2022, reflecting a decrease of about 0.9%[15] - Short-term borrowings were RMB 1,195,641,680.70 as of March 31, 2023, slightly down from RMB 1,198,542,597.31 at the end of 2022, a decrease of approximately 0.2%[14] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 17,596[9] - The top shareholder, Shanghai Chuangneng Ming Investment Co., Ltd., holds 26.30% of the shares, amounting to 113,535,000 shares[10] Revenue and Costs - Total operating revenue for Q1 2023 was RMB 491,474,504.61, a slight increase from RMB 487,984,282.89 in Q1 2022, representing a growth of approximately 0.3%[16] - Total operating costs decreased to RMB 508,275,331.11 in Q1 2023 from RMB 547,162,563.90 in Q1 2022, reflecting a reduction of about 7.1%[16] - Total revenue from sales and services received was 631,920,677.94 RMB, down from 808,088,556.50 RMB in Q1 2022, reflecting a decline of approximately 22%[18] Research and Development - Research and development expenses were RMB 15,045,290.35 in Q1 2023, down from RMB 25,203,561.98 in Q1 2022, indicating a decrease of approximately 40.4%[16] Accounts Receivable and Liabilities - Accounts receivable decreased by 37.05% due to reduced customer bill settlements[7] - Accounts receivable decreased to RMB 1,951,755,929.27 as of March 31, 2023, from RMB 2,090,188,629.72 at the end of 2022, a decline of approximately 6.6%[13] - Contract liabilities increased by 38.68%, indicating a rise in advance payments received[7] Government Subsidy - The company reported a government subsidy of CNY 2,053,235.92, which is included in the non-operating income[7] Cash and Cash Equivalents - Cash and cash equivalents as of March 31, 2023, amounted to RMB 316,347,832.19, compared to RMB 298,178,435.61 at the end of 2022, showing an increase of about 6.1%[12] - The total cash and cash equivalents at the end of Q1 2023 were 134,187,760.84 RMB, down from 434,422,495.00 RMB at the end of Q1 2022[19] - The company received 709,709,941.19 RMB in cash from borrowings during Q1 2023, an increase from 518,166,972.20 RMB in Q1 2022[19]

Financial Performance - In 2022, the company's operating revenue decreased by 34.09% to CNY 3,107,698,520.66 compared to CNY 4,715,130,723.26 in 2021[21]. - The net profit attributable to shareholders was CNY 105,730,620.76 in 2022, a significant recovery from a loss of CNY 543,993,247.81 in 2021[21]. - The basic earnings per share improved to CNY 0.25 in 2022 from a loss of CNY 1.27 in 2021[22]. - The weighted average return on equity increased to 6.32% in 2022, up from -31.40% in 2021, reflecting improved operational efficiency[22]. - The company reported a net cash flow from operating activities of CNY 324,274,777.17 in 2022, a recovery from a negative cash flow in 2021[21]. - The total assets decreased by 8.34% to CNY 6,583,262,247.38 at the end of 2022 compared to CNY 7,182,117,174.09 at the end of 2021[21]. - The company achieved operating revenue of 310,769.85 million RMB, a year-on-year decrease of 34.09%, while the comprehensive gross profit margin increased by 8.38 percentage points to 32.40%[30]. - The company reported a net profit attributable to shareholders of 10,573.06 million RMB, with a net profit of 3,594.68 million RMB after deducting non-recurring gains and losses[30]. - The company achieved operating revenue of CNY 3,107.70 million in 2022, a decrease of 34.09% compared to the previous year[54]. - The gross profit margin increased by 8.38 percentage points to 32.40%, despite the decline in revenue[51]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 0.75 CNY per 10 shares, totaling 32,336,708.85 CNY (including tax) based on the current total share capital of 431,156,118 shares[6]. - The company declared a cash dividend of CNY 32,336,708.85, which accounts for 30.58% of the net profit attributable to ordinary shareholders in the consolidated financial statements[163]. - The company plans to maintain a cash dividend ratio of at least 80% during mature stages without major capital expenditures, and at least 20% during growth stages with significant expenditures[159]. - The company has approved a plan to repurchase and cancel part of the restricted stock, indicating a strategic move to manage equity effectively[132]. - The board approved a shareholder return plan for 2023-2025, aiming to distribute 500 million CNY in dividends[148]. Market Position and Strategy - The company operates multiple wholly-owned subsidiaries across various cities in China, enhancing its market presence[12]. - The company maintained its position in the top tier of the industry in three major business segments: architectural coatings, insulation decorative panels, and building insulation materials[29]. - The company emphasized a strategic focus on quality growth and management improvement despite a challenging external environment[29]. - The company aims to leverage strategic development opportunities and enhance its risk control systems to foster new growth momentum[29]. - The company plans to enhance its distribution channels and accelerate business transformation in 2023, focusing on cost leadership and digital transformation[34]. - The company is focused on expanding its market presence through the development of new products and technologies in the construction materials sector[88]. - The company is exploring potential acquisitions to enhance its market position, with a focus on companies in the green technology sector[136]. - The company is actively participating in the formulation of national and industry standards, having contributed to 56 standards as of the end of the reporting period[81]. Research and Development - Research and development expenses amounted to CNY 98.14 million, a decrease of 16.89% year-on-year[48]. - The company holds 168 valid patents, including 90 invention patents, as of December 31, 2022[48]. - The company completed the R&D of 32 new products, including a high-temperature fireproof inorganic coating and a lightweight thermal insulation decorative composite board system[91]. - The company is investing 200 million RMB in R&D for new technologies aimed at enhancing product efficiency and sustainability[136]. - The company has established a digital transformation partnership with Alibaba Cloud to enhance its information technology capabilities[50]. Risks and Challenges - The company faces risks from potential declines in the real estate market, which could adversely affect its operations due to its reliance on the construction sector[120]. - The company is exposed to raw material price volatility, which could impact its cost structure and profit margins if prices rise significantly[121]. - The company faces a risk of talent loss due to intense competition for high-level technical and marketing management talents in the rapidly developing building energy-saving insulation and decoration materials industry[123]. - There is a risk of declining return on equity as the company plans to invest in large-scale projects that require time to generate expected benefits[124]. - The company is exposed to risks related to new production base investments, including project progress, quality, and cost changes, as well as market environment fluctuations[125]. Environmental and Social Responsibility - The company invested CNY 23.0579 million in environmental protection during the reporting period[170]. - The company reduced carbon emissions by 5,339 tons through measures such as low VOCs product development and wastewater reuse[178]. - The company has established a comprehensive pollution prevention facility and conducts regular maintenance to ensure compliance with environmental standards[172]. - The company actively participates in social responsibility initiatives, including a public welfare education support program titled "Building Hope for a Better Future" aimed at rural education[180]. - The company has engaged in employment support activities in Anhui and Yunnan provinces, contributing to local economic development through targeted hiring and financial donations[181]. Governance and Compliance - The company received a standard unqualified audit report from Lixin Certified Public Accountants[5]. - The board of directors and supervisory board members confirm the authenticity, accuracy, and completeness of the annual report[4]. - The company has a diverse board with members holding positions in various other organizations, enhancing its governance[140]. - The company has been actively involved in the appointment and election of supervisors, ensuring compliance and governance[142]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[177].

证券代码：603378 证券简称：亚士创能 公告编号：2023-043 亚士创能科技（上海）股份有限公司 关于召开 2022 年度业绩说明会的公告 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： 二、 说明会召开的时间、地点 （一） 会议召开时间：2023 年 5 月 9 日下午 16:00-17:00 （ 二 ） 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： 会议召开时间：2023 年 5 月 9 日(星期二)下午 16:00-17:00 会议召开地点：上海证券交易所上证路演中心 http://roadshow.sseinfo.com/） （http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2023 年 4 月 28 日（星期五）至 5 月 8 日（星期一）下午 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 dmb@cuanon.com 进行提问。公司将在说明会上对投 ...

Financial Performance - The company's operating revenue for Q3 2022 was ¥917,600,109.56, a decrease of 33.21% compared to the same period last year[5] - Net profit attributable to shareholders for Q3 2022 was ¥37,560,235.58, down 43.14% year-on-year[5] - The basic earnings per share for Q3 2022 was ¥0.08, a decline of 63.64% compared to the previous year[6] - Total operating revenue for the first three quarters of 2022 was CNY 2,330,734,398.73, a decrease of 36.6% compared to CNY 3,677,573,516.89 in the same period of 2021[21] - Net profit for the third quarter of 2022 was CNY 70,005,167.75, representing a decline of 46.4% from CNY 131,047,961.31 in the same quarter of 2021[22] - The net profit for the first three quarters of 2022 was CNY 12,214,884.42, down 61.4% from CNY 31,514,053.10 in the previous year[30] Assets and Liabilities - Total assets at the end of the reporting period were ¥6,907,865,785.18, a decrease of 3.82% from the end of the previous year[6] - The company's total liabilities decreased to CNY 5,200,767,497.44 in Q3 2022 from CNY 5,562,066,309.76 in Q3 2021, a reduction of approximately 6.5%[19] - The company's total liabilities as of the end of Q3 2022 amounted to CNY 1,989,170,996.61, compared to CNY 1,931,244,102.20 at the end of Q3 2021, reflecting an increase of 3.0%[28] - The company's total assets as of September 30, 2022, were CNY 3,385,872,488.85, an increase from CNY 3,298,688,454.36 as of December 31, 2021, representing a growth of 2.64%[25] Cash Flow - The company's cash flow from operating activities showed a net outflow of ¥149,796,676.64 for the year-to-date[6] - Cash flow from operating activities for the first three quarters of 2022 was negative CNY 149,796,676.64, an improvement from negative CNY 1,096,172,226.62 in the same period of 2021[24] - The company's cash flow from operating activities showed a net outflow of CNY 51,273,944.71 for the first three quarters of 2022, contrasting with a net inflow of CNY 164,963,298.82 in the same period of 2021[31] Investment and Equity - The company reported a significant decrease in investment income by 93.28% due to reduced financial returns[10] - The company's long-term equity investments decreased by 77.95% due to the return of investment funds[10] - The total equity attributable to shareholders increased to CNY 1,707,098,287.74 in Q3 2022, compared to CNY 1,620,050,864.33 in Q3 2021, reflecting a growth of 5.4%[19] - The company's long-term equity investments increased to CNY 1,899,396,220.22 as of September 30, 2022, from CNY 1,840,279,480.00 a year earlier, marking a growth of 3.21%[26] Costs and Expenses - The company experienced a 41.95% decrease in operating costs, attributed to reduced sales volume[10] - Total operating costs for the first three quarters of 2022 were CNY 2,247,148,906.07, down 36.1% from CNY 3,512,085,923.12 in the previous year[21] - Research and development expenses for the first three quarters of 2022 were CNY 67,512,347.00, slightly down from CNY 72,412,643.42 in the same period of 2021[21] - Research and development expenses increased to CNY 9,162,472.45 in the first three quarters of 2022, up 21.1% from CNY 7,568,181.24 in the previous year[29] - The company reported a significant increase in financial expenses, which rose to CNY 10,025,714.94 in 2022 from CNY 3,315,966.21 in 2021, primarily due to interest expenses[29] Inventory and Receivables - The company's inventory decreased to RMB 263.83 million from RMB 289.48 million, a decline of approximately 8.8%[17] - Accounts receivable increased to RMB 2.29 billion from RMB 2.13 billion, showing a growth of about 7.4% year-over-year[17] - The company's inventory as of September 30, 2022, was CNY 5,137.17, significantly lower than CNY 165,306.87 in the previous year, indicating a decrease of 96.91%[26] Future Outlook - The company has ongoing research and development efforts, although specific new products or technologies were not detailed in the report[15] - Future outlook includes potential market expansion strategies, though specific plans were not disclosed in the conference call[15] - The company plans to focus on market expansion and new product development in the upcoming quarters[22] - The company emphasized the importance of monitoring market trends and adapting strategies accordingly to enhance performance[15]

Financial Performance - The company's operating revenue for the first half of the year was approximately ¥1.41 billion, a decrease of 38.66% compared to the same period last year[22]. - Net profit attributable to shareholders was approximately ¥32.44 million, down 49.25% year-on-year[22]. - Basic and diluted earnings per share were both ¥0.08, representing a decline of 46.67% compared to the previous year[21]. - The net cash flow from operating activities improved, with a net cash flow of approximately -¥301.55 million, compared to -¥678.05 million in the same period last year[22]. - The company's total assets decreased by 1.33% to approximately ¥7.09 billion compared to the end of the previous year[22]. - The weighted average return on equity was 1.98%, down 1.23 percentage points from the previous year[21]. - The decline in revenue and profits was primarily attributed to the weak real estate market and recurring pandemic impacts[22]. - The net profit after deducting non-recurring gains and losses was approximately ¥1.11 million, a significant drop of 96.32% year-on-year[22]. - The company's revenue for the reporting period was 1,413.13 million, a year-on-year decrease of 38.66%, with net profit attributable to shareholders declining by 49.25% to 32.44 million[47]. Research and Development - Research and development expenses amounted to 47.61 million, representing a year-on-year increase of 7.73%[41]. - The company emphasizes the importance of technological innovation, with ongoing investments in R&D for new materials and products[68]. - R&D expenses rose by 7.73% to ¥47,609,130.58, indicating a commitment to innovation despite financial challenges[55]. - Research and development expenses for the first half of 2022 were CNY 47,609,130.58, an increase from CNY 44,192,257.93 in the same period of 2021[138]. Market and Product Development - The company has developed 639 product categories in functional architectural coatings, showcasing a diverse product structure[29]. - The company has developed integrated thermal insulation and decorative materials for building walls, which have been widely applied in new construction and energy-saving renovations over the past 20 years[30]. - The company is the largest manufacturer and supplier of building insulation boards in the industry, with its self-developed "Zhenjin Board" showcasing excellent thermal, physical, and safety performance[30]. - The company entered the building waterproof materials market in 2020, with main products including waterproof membranes, coatings, and auxiliary materials[31]. - The total market size for building insulation materials in China is estimated at approximately 200 billion yuan, driven by new construction and renovation projects[37]. - The building waterproof materials market generated a revenue of 126.16 billion yuan in 2021, reflecting a year-on-year growth of 13.2%[37]. - The company plans to continue focusing on market expansion and new product development, although specific figures were not provided in the report[139]. Sales and Distribution - The sales model consists of 83.44% from distribution and 16.56% from direct sales, with a growing trend in the distribution model over the past five years[35]. - The company has established a nationwide marketing network with 49 provincial marketing agencies and 212 marketing offices, achieving full coverage in major cities[40]. - As of the end of the reporting period, the number of registered distributors reached 25,034, an increase of approximately 42.40% compared to the end of 2021[41]. Financial Position and Assets - The company's net assets attributable to shareholders increased by 2.74% to approximately ¥1.66 billion compared to the end of the previous year[22]. - Total current assets decreased from CNY 4,211,189,695.18 to CNY 3,810,690,478.63, a decline of approximately 9.5%[129]. - Cash and cash equivalents decreased from CNY 1,033,052,934.62 to CNY 637,412,844.50, representing a decrease of about 38.2%[129]. - Total liabilities decreased from CNY 5,562,066,309.76 to CNY 5,422,246,090.50, a reduction of about 2.5%[131]. - Total non-current assets increased from CNY 2,970,927,478.91 to CNY 3,276,015,439.80, an increase of approximately 10.3%[130]. - Total equity attributable to shareholders increased from CNY 1,620,050,864.33 to CNY 1,664,459,827.93, an increase of approximately 2.7%[131]. Risks and Challenges - The company faces risks from the slowdown in the real estate sector, which could adversely impact its performance due to reliance on construction materials[66]. - Fluctuations in raw material prices pose a risk, as the company’s main materials are closely tied to commodity prices, potentially affecting margins[66]. - There is a risk of talent loss due to increasing competition for skilled professionals in the building materials industry[69]. - The company has seen a rapid increase in accounts receivable, which could lead to potential bad debt losses if customer payment capabilities decline[70]. - Environmental regulations are becoming stricter, which may increase compliance costs and impact profitability[70]. - The company has faced risks related to sudden public safety events that could disrupt raw material procurement and product delivery[71]. Corporate Governance and Compliance - The company guarantees the authenticity, accuracy, and completeness of the semi-annual report[7]. - The semi-annual report has not been audited[7]. - The company has established measures to prevent the illegal occupation of funds or assets from its subsidiaries[96]. - The company has not engaged in any illegal guarantees or financial misconduct during the reporting period[99]. - The company has made commitments to reduce and regulate related party transactions to avoid conflicts of interest[89]. - The company has not fulfilled certain commitments in a timely manner, indicating areas for improvement in governance[87]. Shareholder Information - The total number of common shareholders as of the end of the reporting period is 17,366[118]. - The top ten shareholders hold a total of 26.20% of the shares, with Shanghai Chuangnengming Investment Co., Ltd. holding 113,535,000 shares[120]. - Li Jinchong, a major shareholder, increased his holdings by 8,397,433 shares during the reporting period, bringing his total to 27,058,395 shares[123]. - The company has a total of 433,269,588 shares outstanding after the recent capital increase[173]. Environmental and Social Responsibility - The company has actively implemented measures to reduce carbon emissions, including clean production and low-carbon office practices, resulting in continuous reductions in energy consumption indicators[83]. - The company has engaged in social responsibility initiatives, including supporting rural education and participating in pandemic relief efforts[84]. - The company has not experienced any severe environmental pollution incidents, maintaining compliance with wastewater and waste gas discharge standards[81]. - The company is focused on enhancing its environmental management system and has set pollution discharge indicators for its factories[81]. Legal Matters - The company is involved in a significant lawsuit against Shenzhen Evergrande Material Equipment Co., Ltd. regarding the return of a performance deposit, with court proceedings ongoing[98]. - The company has not reported any significant litigation or arbitration matters outside of the ongoing lawsuit mentioned[99]. Accounting Policies - The company adheres to the enterprise accounting standards, ensuring that financial statements accurately reflect its financial position and operating results[180]. - The accounting period for the company runs from January 1 to December 31 each year[181]. - The company's functional currency for accounting is Renminbi (RMB)[183]. - The company consolidates financial statements based on control, including all subsidiaries, and offsets internal transactions[186].

Financial Performance - The company's operating revenue for Q1 2022 was ¥487,984,282.89, representing a decrease of 18.77% compared to the same period last year, which was ¥600,714,405.53[5] - The net profit attributable to shareholders for Q1 2022 was -¥38,042,051.11, a significant decline from -¥5,439,250.45 in the previous year[5] - The basic and diluted earnings per share for Q1 2022 were both -¥0.13, compared to -¥0.03 in the previous year[6] - The company noted that the decline in net profit was primarily due to a decrease in operating revenue caused by the pandemic, along with an increase in expenses by 8.85%[7] - The company reported a comprehensive income total of -¥38,042,051.11 for Q1 2022, down from ¥150,070,659.69 in Q1 2021[26] - Earnings per share for Q1 2022 were -¥0.13, compared to -¥0.01 in Q1 2021[26] - Net profit for Q1 2022 was a loss of ¥38,042,051.11, compared to a loss of ¥3,919,462.49 in Q1 2021[25] Cash Flow - The net cash flow from operating activities was -¥415,129,146.81, compared to -¥1,012,028,176.43 in the same period last year[6] - Net cash flow from operating activities was -$415.13 million, an improvement from -$1.01 billion year-over-year[28] - The company reported a net decrease in cash and cash equivalents of -$216.42 million, compared to -$990.32 million in the previous year[29] - Cash received from sales of goods and services in Q1 2022 was ¥808,088,556.50, an increase of 42.0% from ¥569,553,006.09 in Q1 2021[27] Assets and Liabilities - Total assets at the end of Q1 2022 were ¥6,785,657,798.99, down 5.52% from ¥7,182,117,174.09 at the end of the previous year[6] - The company’s total liabilities decreased to RMB 3,661,440,596.39 from RMB 4,211,189,695.18, a reduction of approximately 13%[19] - Total liabilities as of Q1 2022 were ¥5,197,294,849.45, a decrease from ¥5,562,066,309.76 in the previous year[21] - Total assets amounted to RMB 6,785,657,798.99, down from RMB 7,182,117,174.09, indicating a decrease of about 5.5%[20] Research and Development - The company's R&D expenses increased by 42.76% during the reporting period, indicating a focus on innovation and development[14] - Research and development expenses increased to ¥25,203,561.98 in Q1 2022, up from ¥17,654,410.10 in Q1 2021, reflecting a focus on innovation[25] Shareholder Information - The total number of ordinary shares at the end of the reporting period was 20,101[16] - The number of shareholders at the end of the reporting period was 20,101[16] - The top shareholder, Shanghai Chuangnengming Investment Co., Ltd., holds 78,300,000 shares, representing 26.20% of total shares[16] Inventory and Receivables - Accounts receivable decreased to RMB 1,849,788,076.14 from RMB 2,130,222,098.43, a decline of about 13%[19] - Inventory increased to RMB 337,824,231.49 from RMB 289,478,228.59, reflecting an increase of approximately 17%[19] - The company experienced a 143.20% increase in receivables financing, attributed to an increase in bank acceptance bill settlements[13] Other Income and Expenses - The company reported a decrease of 82.37% in other income due to reduced government subsidies received[14] - Total operating costs for Q1 2022 were ¥547,162,563.90, down 14.8% from ¥642,443,515.53 in Q1 2021[25] - The weighted average return on net assets was -2.81%, a decrease of 2.62 percentage points compared to the previous year[6] Fixed and Non-Current Assets - The company has a total of 3,124,217,202.60 in non-current assets as of March 31, 2022, compared to 2,970,927,478.91 at the end of 2021, an increase of approximately 5.2%[20] - The company’s fixed assets increased to RMB 837,154,243.44 from RMB 699,411,753.66, an increase of about 20%[20]

Capital Structure and Shareholder Actions - The company plans to increase its total share capital from 298,951,327 shares to 433,479,424 shares by distributing 4.5 additional shares for every 10 shares held[6]. - The company will treat the cash payment of 99,982,197.08 yuan for share repurchase as a cash dividend, which will be included in the calculation of the cash dividend ratio for 2021[6]. - The company approved the 2021 annual report and financial statements, which included a profit distribution plan and capital reserve transfer to increase share capital[148]. - The company plans to issue non-public A-shares to raise funds, with a feasibility study report on the use of raised funds presented[149]. - The company is set to authorize the board to handle matters related to the issuance of convertible bonds, including a feasibility analysis report on the use of raised funds[149]. - The company has implemented a stock incentive plan to align employee interests with shareholder value, enhancing overall performance[148]. - The total number of shares held by the board members increased from 23,069,729 at the beginning of the year to 30,180,962 at the end of the year, representing a change of 7,111,233 shares[151]. - Li Jinchong, the Chairman and General Manager, increased his shareholding by 5,791,333 shares due to capital reserve conversion, bringing his total to 18,660,962 shares[151]. - Wang Yongjun, the Vice General Manager and Secretary of the Board, increased his shareholding by 364,500 shares, totaling 1,174,500 shares at year-end[151]. - The company has a focus on capital reserve conversion as a method for increasing shareholdings among its executives[151]. Financial Performance - The company achieved operating revenue of RMB 471,513.07 million in 2021, representing a year-on-year increase of 34.46% due to increased market investment and improved competitiveness[24]. - The net profit attributable to shareholders of the listed company was RMB -54,399.32 million, a decrease of 267.54% compared to the previous year, primarily due to significant increases in raw material prices and credit impairment losses from certain real estate clients[25]. - The net cash flow from operating activities decreased by 505.38% year-on-year to RMB -102,577.20 million, mainly due to increased employee compensation, raw material procurement costs, and related operating guarantees[25]. - The company's total assets increased by 37.17% year-on-year to RMB 718,211.72 million as of the end of 2021[23]. - The basic earnings per share for 2021 was RMB -1.84, a decline of 260.00% compared to the previous year[24]. - The weighted average return on equity was -31.40% in 2021, down 52.82% from the previous year[24]. - The company reported a net profit attributable to shareholders of RMB -543.99 million for the year 2021[178]. Market and Industry Insights - The company is focused on expanding its market presence and developing new products and technologies to drive future growth[7]. - The overall market size for the waterproof materials industry is approximately 200 billion yuan, with a year-on-year revenue growth of 13.2% for the 839 major waterproof enterprises in 2021[46]. - The construction coating market in China is estimated to be between 175 billion to 200 billion yuan, with significant growth potential due to increasing consumption levels[45]. - The company has identified significant market opportunities in energy-saving building materials, with the market size currently around 200 billion yuan[46]. - The industry is characterized by low market concentration, with many small enterprises, but there is potential for increased concentration as larger companies expand[47]. - The current scale of the Chinese architectural coating market is estimated to be around 175 billion to 200 billion yuan, with a production output of 38 million tons in 2021, representing a year-on-year growth of 16%[1]. - The main business revenue of the architectural coating industry reached 460 billion yuan in 2021, also showing a year-on-year increase of 16%, while profits totaled 30.3 billion yuan, a decrease of 4% year-on-year[1]. Operational and Strategic Initiatives - The company has a comprehensive range of subsidiaries across various cities, enhancing its operational capabilities and market reach[12]. - The company expanded its dealer network to 17,580, an increase of approximately 110% compared to the end of 2020[36]. - The company has established a comprehensive marketing network with 34 provincial marketing agencies and 276 marketing offices, achieving nationwide coverage[56]. - The company has established a strategic partnership with Alibaba Cloud to enhance its digital transformation over the next 2-3 years[60]. - The company aims to reduce costs and improve efficiency through new product development and better procurement strategies[44]. - The company is actively pursuing market expansion through new product development and strategic partnerships in the construction materials sector[102]. - The company has implemented measures to mitigate the dilution of immediate returns for shareholders following the non-public offering[166]. Research and Development - Research and development expenses reached CNY 11.81 million, representing a year-on-year growth of 22.44%[57]. - The number of R&D personnel is 521, making up 10.30% of the total workforce, indicating a strong focus on innovation[75]. - The company holds a total of 145 valid patents, including 61 invention patents, and has filed for 80 new patents during the reporting period[7]. - The company completed 21 R&D projects during the reporting period, focusing on various innovative products such as a high-stability water-based sand coating and a waterproof and aging-resistant flexible granite[102]. - The company is in the small trial stage for several R&D projects, including a water-based alkyd resin application technology and energy-saving coatings suitable for cold winter and hot summer regions[103]. Risk Management and Compliance - The company faces risks from potential declines in the real estate market and fluctuations in raw material prices, which could impact its profitability[137]. - The company has established comprehensive governance structures to ensure effective risk management and compliance with regulatory requirements[144]. - The company has not faced any penalties from securities regulatory authorities in the past three years[157]. - The company has implemented measures to reduce carbon emissions, including clean production practices and energy-saving initiatives, resulting in lower energy consumption metrics[190]. - The company has committed to a "1+6" public welfare charity mechanism, coordinating efforts across six sales regions to support rural revitalization and poverty alleviation[192]. Employee and Social Responsibility - The company has implemented a comprehensive training program for new employees, covering various aspects of production and marketing[172]. - The company’s employee training platform, "亚士云学堂," supports continuous learning and knowledge sharing across all departments[173]. - The company’s remuneration policy emphasizes internal equity and market competitiveness, rewarding based on job value, performance, and individual capability[170]. - The company donated 1 million yuan to Qixing Primary School in Huadu, Guangzhou, to improve educational conditions and support students participating in the 2021 World Rope Skipping Championship[192]. - The company contributed 2 million yuan for COVID-19 prevention efforts and provided materials for the construction of the Xiaotangshan project in Beijing[192].

Financial Performance - The company's revenue for Q3 2021 was approximately ¥1.37 billion, representing a 25.47% increase compared to ¥1.09 billion in the same period last year[6] - Net profit attributable to shareholders decreased by 49.33% to ¥66.06 million from ¥125.94 million year-on-year[6] - The net profit after deducting non-recurring gains and losses fell by 71.18% to ¥35.95 million compared to ¥123.47 million in the previous year[6] - The basic earnings per share decreased by 51.99% to ¥0.22 from ¥0.45 in the same period last year[6] - Operating profit for the first three quarters of 2021 was ¥157,321,939.03, a decrease of 46.5% from ¥293,311,959.58 in the previous year[23] - The company reported a net profit of ¥157,321,939.03 for the first three quarters of 2021, reflecting a decline in profitability compared to the previous year[23] - The net profit for Q3 2021 was CNY 131,047,961.31, a decrease of 46.1% compared to CNY 243,458,363.71 in Q3 2020[24] - The total comprehensive income for Q3 2021 was CNY 131,047,961.31, reflecting a significant decline from CNY 243,458,363.71 in Q3 2020[24] Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥7.66 billion, an increase of 46.26% from ¥5.19 billion at the end of the previous year[7] - Total assets as of September 30, 2021, amounted to ¥7,658,123,646.18, an increase of 46.2% from ¥5,235,801,046.47 at the end of 2020[20] - Total liabilities reached ¥5,358,706,985.26 as of September 30, 2021, up 70.0% from ¥3,154,986,077.55 at the end of 2020[20] - Current liabilities totaled approximately ¥2.89 billion, while non-current liabilities were around ¥261.75 million, leading to total liabilities of approximately ¥3.15 billion[31] - The total liabilities to equity ratio is approximately 1.51, suggesting a moderate level of financial leverage[31] Cash Flow - The net cash flow from operating activities was negative at approximately -¥1.10 billion, compared to -¥459.76 million in the same period last year[6] - The net cash flow from operating activities for the first nine months of 2021 was negative CNY 1,096,172,226.62, compared to negative CNY 459,759,083.06 in the same period of 2020[27] - The cash flow from investing activities showed a net outflow of CNY 944,398,346.39 in the first nine months of 2021, compared to a smaller outflow of CNY 68,797,092.52 in the same period of 2020[27] - The cash flow from financing activities generated a net inflow of CNY 1,220,577,750.01 in the first nine months of 2021, compared to CNY 325,739,995.23 in the same period of 2020[27] Shareholder Equity - The equity attributable to shareholders increased by 10.51% to approximately ¥2.30 billion from ¥2.05 billion at the end of the previous year[7] - Shareholders' equity reached approximately ¥2.08 billion, with retained earnings of about ¥892.44 million[32] Operational Metrics - Revenue increased by 55.42% due to increased market investment and promotion, leading to higher sales[12] - Operating costs rose by 89.59% driven by raw material price increases and corresponding revenue growth[13] - Accounts receivable grew by 61.78% as a result of sales growth and slight adjustments in customer payment terms[12] - Inventory increased by 76.18% due to higher sales and stock preparation[12] - Research and development expenses rose by 87.77% reflecting growth in personnel and material costs[13] - Other income surged by 206.78% due to increased government subsidies received[13] - The company reported a significant increase in contract liabilities by 205.23% due to higher customer prepayments[12] Cash and Investments - Cash and cash equivalents as of September 30, 2021, were ¥684,718,877.13, down 50.5% from ¥1,381,612,002.49 at the end of 2020[19] - The company experienced a significant increase in cash received from investment activities, totaling CNY 2,556,150,180.00 in the first nine months of 2021[27] - The company has a long-term investment of approximately ¥3.09 million in equity investments, indicating a commitment to growth[30] Future Outlook - The company plans to continue its investment in new technologies and market expansion strategies to enhance future growth[26] - The company is implementing new leasing standards effective from January 1, 2021, which may affect future financial reporting[32]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥2,303,788,179.28, representing an increase of 81.22% compared to ¥1,271,233,133.09 in the same period last year[18]. - The net profit attributable to shareholders of the listed company decreased by 45.99% to ¥59,825,238.94 from ¥110,771,521.59 in the previous year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 73.75% to ¥24,990,886.12 compared to ¥95,188,871.75 in the same period last year[18]. - The net cash flow from operating activities was negative at -¥678,054,330.17, worsening from -¥213,704,968.52 in the previous year[18]. - The total assets increased by 30.63% to ¥6,785,598,044.04 from ¥5,194,616,717.76 at the end of the previous year[18]. - The net assets attributable to shareholders decreased by 0.91% to ¥2,028,753,329.03 from ¥2,047,331,948.83 at the end of the previous year[18]. - The gross profit margin was 24.63%, a decrease of 11.45 percentage points compared to the same period last year[41]. - Basic and diluted earnings per share both declined by 50.00% compared to the previous year, with basic earnings per share after excluding non-recurring gains and losses dropping by 76.47%[21]. Revenue and Sales - The company's operating revenue increased by 81.22% compared to the same period last year, driven by enhanced market development and increased competitiveness[21]. - Sales revenue from functional architectural coatings reached 1,377.68 million yuan, with a production volume of 473,600 tons, reflecting a year-on-year increase of 88.01%[41]. - Sales revenue from energy-saving building materials was 769.51 million yuan, a year-on-year increase of 120.25%, accounting for 33.83% of total revenue[43]. - The company's revenue growth rate for the reporting period was 81.22%, significantly higher than the industry average growth rate[34]. - The proportion of the company's agency sales model accounted for 81.2% of main operating income, while direct sales accounted for 18.8%[31]. Costs and Expenses - Operating costs rose to CNY 1,736,384,156.57, a significant increase of 125.54% from CNY 769,875,306.77, primarily due to rising raw material prices and increased sales volume[46]. - The net cash flow from operating activities decreased, mainly due to increased payments for raw material purchases and higher deposits[21]. - The company plans to enhance its strategic focus on cost reduction and efficiency improvement in response to rising raw material prices and increased labor costs[44]. - Research and development expenses increased by 88.86% to CNY 44,192,257.93, up from CNY 23,399,610.20, reflecting the company's commitment to innovation[46]. Market and Product Development - The company has developed 639 product categories in functional architectural coatings, showcasing a diverse product structure[27]. - The company is a leading manufacturer and supplier of building insulation materials, with its self-developed "Zhenjin Board" being a key product[28]. - The company entered the building waterproofing materials market in 2020, with products including waterproof membranes and coatings[28]. - The market size for insulation materials in China is expected to exceed 175 billion yuan by 2022, with a compound annual growth rate of 12%[33]. - The total revenue of the waterproof materials industry in China was 108.7 billion yuan in 2020, with a year-on-year growth of 4.6%[33]. Risk Factors - The company faces risks from a slowdown in the real estate industry, which could negatively impact its operations[58]. - The company is exposed to raw material price volatility, which could lead to increased costs and decreased profit margins[59]. - The rapid growth of the company's asset, personnel, and business scale poses a risk of insufficient management capabilities[63]. - Increased fixed asset depreciation and amortization risks are anticipated after the completion of new production bases, potentially leading to profit decline if market conditions worsen[62]. Corporate Governance and Compliance - The report has not been audited, ensuring that all financial data is presented accurately and completely[7]. - The company emphasizes the importance of risk awareness regarding forward-looking statements and future plans[5]. - The company has adhered to all regulatory requirements, with no violations reported during the first half of 2021[88]. - The company has not reported any significant mergers or acquisitions during the first half of 2021, with a focus on organic growth strategies[88]. Shareholder Information - The total number of shares after the capital reserve conversion is 298,951,327 shares, affecting the calculation of earnings per share[20]. - The company distributed a total cash dividend of 94,839,731.34 yuan during the reporting period[104]. - The largest shareholder, Shanghai Chuangneng Ming Investment Co., Ltd., holds 54,000,000 shares, representing 26.19% of the total shares, with 280,093 shares frozen[109]. - The total number of shareholders reached 10,375 by the end of the reporting period[107]. Environmental and Social Responsibility - The company invested CNY 3.1888 million in environmental protection, accounting for 0.14% of its operating revenue[73]. - The company actively participated in social responsibility initiatives, donating CNY 1 million to improve educational conditions and CNY 2 million for COVID-19 prevention efforts[78]. - The company has established environmental performance assessment indicators and regularly evaluates compliance with pollution discharge standards[75]. - The company’s pollution discharge monitoring results indicate compliance with environmental standards, with no exceedances reported[73].