Financial Performance - The company's operating revenue for 2022 was CNY 827,895,058.47, representing a year-on-year increase of 17.65% compared to CNY 703,665,407.31 in 2021[27]. - The net profit attributable to shareholders for 2022 was CNY 166,917,134.77, reflecting a growth of 21.94% from CNY 136,886,595.17 in 2021[27]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 160,092,096.85, an increase of 24.30% compared to CNY 128,799,837.11 in 2021[27]. - The basic earnings per share for 2022 was CNY 0.32, up 23.08% from CNY 0.26 in 2021[28]. - The weighted average return on equity for 2022 was 12.41%, an increase of 1.41 percentage points from 11.00% in 2021[28]. - The net cash flow from operating activities decreased by 14.09% to CNY 226,610,267.29 in 2022, down from CNY 263,764,464.97 in 2021[27]. - Total assets at the end of 2022 were CNY 1,878,734,191.64, a slight increase of 2.13% from CNY 1,839,617,559.56 at the end of 2021[27]. - The net assets attributable to shareholders at the end of 2022 were CNY 1,424,337,247.97, representing a growth of 9.74% from CNY 1,297,928,803.89 at the end of 2021[27]. Corporate Governance - The company has received a standard unqualified audit report from Dahua Certified Public Accountants[5]. - The company has a commitment to transparency, ensuring the accuracy and completeness of the annual report[4]. - The company has not reported any significant differences in governance practices compared to regulatory requirements[95]. - The company has not faced any major changes in competition or business independence issues from its controlling shareholders[95]. - The company is committed to maintaining the independence of its operations and has outlined specific measures to ensure this[95]. - The company has established an internal control system and has not identified any major defects in financial reporting controls as of December 31, 2022[134]. - The internal control audit report issued by Da Hua Accounting Firm confirmed the effectiveness of the company's internal controls with a standard unqualified opinion[135]. Shareholder Matters - The company plans to not distribute cash dividends or stock dividends for the fiscal year 2022, and this proposal will be submitted for shareholder meeting approval[131]. - The company approved a proposal for a dividend return plan for 2021-2023 during the annual general meeting[97]. - The company held three extraordinary general meetings in 2022, focusing on capital adjustments and governance structure revisions[96]. - The company reported a total of 182,834,116 shares at the beginning of the reporting period, increasing to 242,685,810 shares by the end, reflecting a net increase of 59,525,334 shares[100]. - The company’s independent directors' remuneration was adjusted during the meetings, indicating a focus on governance and compensation alignment[97]. - The company has established a cash dividend policy, prioritizing cash dividends when conditions are met, with a minimum of 30% of the average distributable profit over the last three years to be distributed in cash[127]. Market Strategy and Development - The company plans to continue expanding its market presence and investing in new product development to drive future growth[29]. - The company has established stable partnerships with over ten domestic tobacco companies, ensuring a solid customer base[42]. - The company plans to increase R&D efforts in new tobacco products and has obtained a production license for electronic cigarette products[44]. - The company has developed dozens of new products annually, supporting its market expansion and competitive positioning[45]. - The company aims to enhance its market position in the mid-to-high-end cigarette packaging paper segment, focusing on innovation and capacity expansion[79]. - The company plans to integrate its sales teams to improve marketing efficiency for both cigarette labels and packaging paper, leveraging synergies in customer relationships[82]. Risks and Challenges - The company faces risks from high customer concentration, which could impact business volume if major clients' demand decreases[88]. - Fluctuations in raw material prices, such as paper and aluminum, could affect the company's gross margin and profitability[88]. - Increased market competition may lead to price reductions, impacting economic benefits for companies in the tobacco packaging materials sector[88]. - Regulatory changes in the tobacco industry could significantly impact the company’s operations if it fails to adapt quickly[91]. Research and Development - The company holds over 100 patents, enhancing its competitive edge in research and development[38]. - The company has been recognized as a provincial-level enterprise technology center, indicating strong R&D capabilities[38]. - Research and development expenses totaled RMB 38,441,718.96, accounting for 4.64% of total revenue[66]. - The company has 126 R&D personnel, representing 13.10% of the total workforce[67]. Environmental and Social Responsibility - The company invested 2.83 million yuan in environmental protection during the reporting period[137]. - The company has implemented measures to reduce carbon emissions, promoting a paperless office and resource-saving practices among employees[144]. - The company has complied with environmental management requirements, ensuring that its pollutant emissions meet national standards[138]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[142]. Personnel and Management - The company has a total of 962 employees, with 502 in the parent company and 460 in major subsidiaries[121]. - Employee composition includes 471 production personnel, 31 sales personnel, 252 technical personnel, 16 financial personnel, and 192 administrative personnel[121]. - The company plans to optimize its talent structure by recruiting high-quality management and technical personnel to support business expansion and investment projects[84]. - The company has implemented a training program to enhance employee skills and safety awareness, including a "mentor-apprentice" training model for new hires[124]. Financial Management - The company has committed 200,000,000.00 CNY in self-owned funds for broker products, with an outstanding balance of 50,000,000.00 CNY[180]. - The company has engaged in wealth management with a total of 50,000,000.00 CNY at an annualized return rate of 4.02%, with 495,000.00 CNY already recovered[182]. - The company has retained Da Hua Accounting Firm as its auditor for the 2022 fiscal year, with an audit fee of RMB 700,000[171]. - The company has not faced any delisting risks or bankruptcy reorganization matters[173].

2022 年第三季度报告 证券代码：603429 证券简称：集友股份 安徽集友新材料股份有限公司 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。 | 项目 | 本报告期 | 本报告期比上 | 年初至报告期 | 年初至报告期末 | | --- | --- | --- | --- | --- | | | | 年同期增减变 | 末 | 比上年同期增减 | | | | 动幅度(%) | | 变动幅度(%) | | 营业收入 | 177,362,047.18 | -3.01 | 521,415,739.52 | 12.79 | | 归属于上市公司股东的净 | 37,986,379.00 | -3.72 | 115,836,788.35 | 26.19 | | 利润 | | | | | | 归属于上市公司股东的扣 | 38,518,903.14 | 3.31 | 112,009,937.49 | 31.01 | | 除非经常性损益的净利润 | | | | | | 经营活动产生的现金流量 | 不适用 | 不适用 | ...

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： 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 | 年初至报告期 | 年初至报告期末 | | --- | --- | --- | --- | --- | | | | 年同期增减变 | 末 | 比上年同期增减 | | | | 动幅度(%) | | 变动幅度(%) | | 营业收入 | 177,362,047.18 | -3.01 | 521,415,739.52 | 12.79 | | 归属于上市公司股东的净 | 37,986,379.00 | -3.72 | 115,836,78 ...

Financial Performance - The company's operating revenue for the first half of 2022 was RMB 344,053,692.34, representing a 23.12% increase compared to the same period last year[20]. - Net profit attributable to shareholders increased by 48.75% to RMB 77,850,409.35, driven by higher main business revenue[21]. - The net profit after deducting non-recurring gains and losses rose by 52.44% to RMB 73,491,034.35, also attributed to increased main business revenue[21]. - The net cash flow from operating activities increased by 24.65% to RMB 149,679,403.27, due to higher sales collections and tax refunds received[22]. - Basic earnings per share increased by 50.00% to RMB 0.15, reflecting the growth in net profit attributable to shareholders[22]. - The weighted average return on net assets rose by 1.50 percentage points to 5.78%[21]. - The company's total assets at the end of the reporting period were RMB 1,843,994,908.86, a slight increase of 0.24% from the previous year[20]. - The net assets attributable to shareholders increased by 2.28% to RMB 1,327,512,654.14[20]. - The company achieved operating revenue of ¥344,053,692.34, a year-on-year increase of 23.12%[46]. - Net profit attributable to shareholders reached ¥77,850,409.35, reflecting a growth of 48.75% compared to the previous year[46]. Research and Development - The company has invested significantly in R&D, resulting in the recognition of 2 products as high-tech products and over 100 patents, including approximately 20 invention patents, enhancing its competitive edge[37]. - Research and development expenses increased by 6.63% to ¥19,919,520.86, supporting innovation and product development[46]. - The company has been recognized as a "provincial enterprise technology center," highlighting its strong R&D capabilities[44]. - The company plans to continue investing in R&D, marketing, and management systems to ensure future growth[46]. Market Position and Strategy - The company has established stable cooperative relationships with multiple tobacco companies, enhancing its competitive advantage in the cigarette packaging materials market[31]. - The cigarette packaging materials industry is characterized by high technical requirements and significant barriers to entry, indicating a stable market demand for the company[28]. - The company has established stable partnerships with multiple tobacco companies, including Yunnan Tobacco and Anhui Tobacco, for the supply of cigarette packaging materials, which supports future sustainable development[33]. - The company has won bids for cigarette labels from various tobacco companies, indicating a strong market presence and potential for further expansion in the label business[34]. - The company focuses on design innovation and research development to stabilize its main business while actively expanding into new products and markets[42]. - The company aims to explore the development of solid-state electronic cigarettes and plans to apply for production licenses in accordance with industry regulations[34]. Risks and Challenges - The company faced risks due to high customer concentration, as it has focused on serving a few major clients, which could impact business volume if demand decreases[54]. - The fluctuation in raw material prices, such as paper products and aluminum, poses a risk to the company's gross margin and profit levels[54]. - The company is subject to regulatory risks due to increasing anti-smoking measures and potential changes in tobacco monopoly policies that could impact the industry[57]. - The company has established stable partnerships with multiple tobacco companies, including Yunnan Tobacco and Anhui Tobacco, for its cigarette packaging products[54]. Corporate Governance and Compliance - The company guarantees the authenticity, accuracy, and completeness of the semi-annual report, with all board members present at the meeting[7]. - The company has a commitment to disclose information through designated newspapers and its official website[17]. - The company confirmed that all related party transactions are fair and conducted according to normal business practices, ensuring compliance with legal and regulatory requirements[4]. - The company has implemented measures to ensure compliance with commitments regarding non-competition during and after the tenure of its major shareholders[82]. Environmental Responsibility - The company is classified as a key pollutant discharge unit, complying with national and local environmental management requirements[69]. - The company has implemented pollution control facilities, such as RTO, to manage emissions effectively[70]. - The company has developed an emergency response plan for environmental incidents in accordance with relevant laws and regulations[71]. - The company actively manages waste, air, noise, and solid waste to fulfill its environmental responsibilities[74]. Shareholder Information - The company reported a total of 532,334,540 shares outstanding, with 524,485,465 being freely tradable shares, representing 98.53% of the total[99]. - The largest shareholder, Xu Shanshui, held 215,305,300 shares, representing 40.45% of the total shares[106]. - Major shareholders are committed to holding their shares long-term and will only sell a maximum of 25% of their holdings annually during their tenure as directors or executives[6]. - The company plans to repurchase and cancel 236,082 shares from an incentive plan participant who did not meet the performance criteria[102]. Financial Statements and Accounting - The financial statements were approved by the board of directors on August 19, 2022[156]. - The financial statements are prepared based on actual transactions and in accordance with the accounting standards issued by the Ministry of Finance[159]. - The company has evaluated its ability to continue as a going concern for the next 12 months and found no significant doubts regarding its sustainability[160]. - The accounting policies comply with the requirements of the accounting standards, reflecting the company's financial position and operating results accurately[161].

Financial Performance - The company's operating revenue for Q1 2022 was ¥165,675,680.34, representing a year-on-year increase of 15.99%[3] - The net profit attributable to shareholders was ¥36,083,728.85, reflecting a growth of 14.70% compared to the same period last year[3] - Basic earnings per share increased by 25.00% to ¥0.10[3] - Total operating revenue for Q1 2022 was ¥165,675,680.34, an increase of 16.00% from ¥142,842,079.54 in Q1 2021[16] - Net profit for Q1 2022 reached ¥35,572,874.35, representing a 14.99% increase compared to ¥31,058,274.63 in Q1 2021[17] - Basic and diluted earnings per share for Q1 2022 were both ¥0.10, compared to ¥0.08 in Q1 2021[17] Cash Flow and Assets - The net cash flow from operating activities decreased by 26.20%, amounting to ¥49,704,870.79[3] - Cash flow from operating activities for Q1 2022 was ¥49,704,870.79, down 26.25% from ¥67,349,292.28 in Q1 2021[20] - Cash and cash equivalents decreased to CNY 757,070,889.24 from CNY 792,430,402.80, indicating a decline of about 4.5%[11] - Cash and cash equivalents at the end of Q1 2022 totaled ¥757,070,889.24, a decrease from ¥792,430,402.80 at the beginning of the quarter[21] - The company experienced a net increase in cash and cash equivalents of ¥-35,359,513.56 in Q1 2022, compared to an increase of ¥17,814,938.59 in Q1 2021[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,869,035,328.31, a 1.60% increase from the previous year[4] - As of March 31, 2022, the total assets of Anhui Jiyou New Materials Co., Ltd. amounted to CNY 1,869,035,328.31, an increase from CNY 1,839,617,559.56 at the end of 2021[12] - The company's current assets totaled CNY 1,171,005,480.23, compared to CNY 1,132,230,351.13 at the end of 2021, reflecting a growth of approximately 3.4%[11] - The total liabilities decreased slightly to CNY 502,371,135.92 from CNY 508,526,241.52, a reduction of about 1.0%[13] - The equity attributable to shareholders increased to CNY 1,334,012,532.74 from CNY 1,297,928,803.89, reflecting an increase of approximately 2.8%[13] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 15,809[8] - The largest shareholder, Xu Shanshui, holds 40.45% of the shares, totaling 153,789,500 shares[8] Investment and Expenses - The company reported a significant increase of 240.46% in other current assets, primarily due to the purchase of wealth management products[6] - The company experienced a 99.77% decrease in investment income, attributed to reduced investment returns during the period[6] - Research and development expenses for Q1 2022 were ¥7,580,136.89, down 24.12% from ¥9,983,772.95 in Q1 2021[16] - Investment activities resulted in a net cash outflow of ¥84,843,901.41 in Q1 2022, compared to a net outflow of ¥49,534,353.69 in Q1 2021[20] Inventory and Other Assets - The company's inventory rose to CNY 159,424,112.89 from CNY 149,687,042.79, marking an increase of about 6.0%[12] - The company's short-term borrowings and other financial liabilities were not disclosed in the report[13] - The non-current assets totaled CNY 698,029,848.08, down from CNY 707,387,208.43, indicating a decrease of approximately 1.3%[12] Future Guidance - The report did not provide specific guidance on future performance or new product developments[10]

Financial Performance - The company's operating revenue for 2021 was CNY 703,665,407.31, representing a 51.60% increase compared to CNY 464,167,939.36 in 2020[25]. - Net profit attributable to shareholders for 2021 was CNY 136,886,595.17, a 90.71% increase from CNY 71,777,302.46 in 2020[25]. - The net profit after deducting non-recurring gains and losses increased by 117.64% to CNY 128,799,837.11 in 2021 from CNY 59,180,910.46 in 2020[25]. - The net cash flow from operating activities rose by 51.90% to CNY 263,764,464.97 in 2021, up from CNY 173,638,772.72 in 2020[25]. - Basic earnings per share increased by 94.74% to CNY 0.37 in 2021, compared to CNY 0.19 in 2020[26]. - The weighted average return on equity rose to 11.00% in 2021, an increase of 4.97 percentage points from 6.03% in 2020[26]. - The total assets at the end of 2021 were CNY 1,839,617,559.56, a 13.85% increase from CNY 1,615,818,779.58 at the end of 2020[25]. - The company's net assets attributable to shareholders increased by 7.63% to CNY 1,297,928,803.89 at the end of 2021, compared to CNY 1,205,881,010.63 at the end of 2020[25]. Dividend and Capital Plans - The company plans to distribute a cash dividend of 2 RMB per 10 shares, totaling approximately 76 million RMB (including tax) based on a total share capital of 380,238,957 shares as of April 18, 2022[6]. - The company intends to increase its share capital by 4 shares for every 10 shares held, resulting in a new total share capital of approximately 532 million shares after the capital reserve conversion[6]. - The company has maintained a consistent approach to its profit distribution and capital increase plans, subject to shareholder approval[6]. - The company has established a cash dividend policy, prioritizing cash dividends when conditions are met, with a minimum of 30% of the average distributable profit over the last three years to be distributed in cash[125]. - The company plans to distribute profits through cash, stock, or a combination, with cash dividends being prioritized when conditions allow[125]. Governance and Management - The audit report issued by Dahua Certified Public Accountants confirmed the financial statements' accuracy and completeness without reservations[5]. - The company’s management has assured the authenticity and completeness of the annual report, with all board members present at the meeting[4]. - The company has implemented a robust corporate governance structure in compliance with relevant laws and regulations, enhancing operational transparency and accountability[96]. - The company is committed to improving its governance quality and maintaining the interests of all investors[96]. - The company has established specialized committees, including an audit committee, nomination committee, compensation and assessment committee, and strategic committee[116]. - The company has a diverse board with members having extensive experience in various industries, including finance, management, and law, which enhances its governance structure[102]. Research and Development - The company has over 100 patents, enhancing its competitive advantage in the market[37]. - The company continues to invest in R&D, marketing, and management systems to support future growth[36]. - The company has established a strong R&D team by integrating experienced personnel from leading industry firms[37]. - The company is recognized as a provincial-level enterprise technology center, indicating strong R&D capabilities[37]. - Research and development expenses rose to CNY 39,440,990.05, marking a 3.52% increase year-on-year[55]. - The company has a strong management team with over 10 years of industry experience, contributing to its competitive edge[47]. Market Position and Strategy - The company is actively expanding into new products and markets, particularly in the cigarette packaging sector[35]. - The company has established stable partnerships with multiple tobacco companies, including Yunnan Tobacco and Anhui Tobacco, enhancing its competitive advantage in the cigarette packaging materials market[42]. - The company aims to become a leading professional packaging printing enterprise in China, focusing on sustainable growth and profitability[45]. - The company plans to enhance its production capacity of mid-to-high-end cigarette paper to serve more cigarette manufacturers and maintain its competitive advantage in the industry[81]. - The company will continue to invest in technology innovation and R&D to develop new products and materials, enhancing its market competitiveness[82]. Risks and Challenges - The company reported no significant risks that could materially affect its operations during the reporting period[9]. - The company faces high customer concentration risk, focusing on a few major clients, which could adversely affect business if demand decreases or bidding success declines[89]. - Fluctuations in raw material prices, such as paper, aluminum foil, and ink, impact the company's gross margin and profit levels, posing a risk to profitability[89]. - The company is aware of the risks posed by increasing anti-smoking regulations, which could impact the demand for its products[92]. - The domestic growth potential for the company's cigarette packaging products is limited due to regulatory controls on cigarette production and sales[90]. Social Responsibility and Community Engagement - The company actively engages in social responsibility initiatives, focusing on resource conservation and environmental protection[143]. - The company will invest all raised funds and refinancing funds in Taihu County to support poverty alleviation and rural revitalization efforts[144]. - The investment projects are expected to create numerous job opportunities in Taihu County, contributing to local economic development[144]. - The company's efforts in Taihu County are part of a broader strategy to support national poverty alleviation goals[144]. Financial Management and Investments - The company has engaged in various financial management activities, with a total of ¥397,000,000.00 in non-principal guaranteed investments, indicating a proactive approach to asset management[172]. - The company has achieved an annualized return rate of 3.60% on a ¥20,000,000.00 investment with China Minsheng Bank, demonstrating effective investment strategies[174]. - The company has successfully recovered all funds from its entrusted financial management activities, indicating strong cash flow management[174]. - The company has a strategic focus on expanding its rental portfolio, with multiple agreements in place to enhance revenue generation capabilities[169]. Compliance and Legal Matters - The company has no penalties from securities regulatory agencies in the past three years[112]. - The company has no significant related party transactions or major contracts that require disclosure[167]. - The company has implemented measures to ensure compliance with relevant laws and regulations following the warning issued to the supervisor[166]. - The company has no significant changes in controlling shareholders or actual controllers during the reporting period[188].

证券代码：603429 证券简称：集友股份 公告编号：2022-020 安徽集友新材料股份有限公司 关于接待机构调研情况的公告 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。 安徽集友新材料股份有限公司（以下简称"公司"）于 2022 年 3 月 21 日 通过电话会议交流形式接待了机构调研，现将情况公告如下： 一、调研情况 时间：2022 年 3 月 21 日 15:00-16:00 调研方式：电话会议交流 调研机构名称：中金公司 中信证券 海通证券 浙商证券 公司接待人员：董事会秘书、副总裁刘力争 证券事务代表胡正球 二、交流的主要问题及公司回复概要 1、公司对烟用接装纸和烟标战略目标是怎样定位的？ 答：公司将围绕"成为国内一流的以烟草包装材料为主导产品的专业包装印 刷类企业"的发展战略，聚焦烟用接装纸和烟标两项具体产品，实现公司进一步 发展壮大。烟用接装纸方面，公司将继续以中高档烟用接装纸产品的设计、研发、 生产与销售为主要经营方向，继续贯彻以创新为先导的理念，通过技术改造提升 公司的装备水平，扩大公司的烟用接装纸 ...

2021 年第三季度报告 证券代码：603429 证券简称：集友股份 安徽集友新材料股份有限公司 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 单位：元 币种：人民币 | 项目 | 本报告期金额 | 年初至报告期末金额 | 说明 | | --- | --- | --- | --- | | 非流动性资产处置损益（包括已计 | 58,268.24 | 288,174.56 | | | 提资产减值准备的冲销部分） | | | | | 越权审批，或无正式批准文件，或 | | | | | 偶发性的税收返还、减免 | | | | | 计入当期损益的政府补助（与公司 | | | | | 正常经营 ...

Financial Performance - The company reported no profit distribution or capital reserve conversion into shares for the first half of 2021[4]. - The financial report for the first half of 2021 has not been audited[7]. - The company's operating revenue increased by 33.78% compared to the same period last year, reaching approximately ¥279.44 million, primarily due to the growth in cigarette label business revenue[23]. - Net profit attributable to shareholders increased by 98.88% year-on-year, amounting to approximately ¥52.34 million, driven by higher main business income and lower share-based payment expenses[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses grew by 119.57% compared to the previous year, totaling approximately ¥48.21 million[22]. - The net cash flow from operating activities rose by 42.35% year-on-year, reaching approximately ¥120.08 million, mainly due to a reduction in acceptance guarantee deposits paid[22]. - Basic earnings per share increased by 100.00% to ¥0.14, reflecting the significant rise in net profit attributable to shareholders[22]. - The weighted average return on equity increased by 2.08 percentage points to 4.28% compared to the previous year[23]. - The total assets of the company grew by 5.07% year-on-year, reaching approximately ¥1.70 billion[23]. - The net assets attributable to shareholders increased by 1.54% compared to the end of the previous year, totaling approximately ¥1.22 billion[23]. Operational Highlights - The company operates in a high-tech and capital-intensive industry, with significant barriers to entry, particularly in the cigarette packaging materials sector[28]. - The industry is characterized by stable demand due to the non-cyclical nature of cigarette consumption, providing a favorable environment for the growth of the cigarette packaging materials sector[32]. - The company has established stable partnerships with multiple tobacco companies, including Yunnan Tobacco and Anhui Tobacco, serving well-known brands such as Yunyan and Honghe[33]. - The company has become a qualified supplier of cigarette packaging materials, focusing on the research, production, and sales of cigarette wrapping paper, cigarette labels, and aluminum foil[34]. - The company has invested CNY 10 million to establish Taihu Jiyou Guangyu Technology Co., which will enhance R&D efforts in new tobacco products, including heated plant core products[36]. - The company has developed a "heated plant core product" using homogenized sheet technology, with an annual production target of 180,000 units[36]. - The company has received recognition for its technological advancements, with 2 products certified as provincial high-tech products and over 100 patents held[38]. - The company has invested in high-end production and testing equipment, including imported printing and inspection machines, to enhance production capabilities[40]. - The company has achieved stable production of aluminum foil products, meeting or exceeding the quality standards of established domestic competitors[41]. - The company has a strong management and technical team with over 10 years of experience in the cigarette wrapping paper industry, contributing to its competitive advantage[37]. Market and Industry Risks - The company has a high customer concentration risk, focusing on a few major clients, which could negatively impact business if demand decreases or if the company fails to win bids[54]. - Major raw material prices, including paper products and aluminum, have fluctuated, affecting the company's gross margin and profit levels[55]. - The domestic market for cigarette packaging products is limited due to regulatory controls on cigarette production and sales, impacting growth potential[58]. - The company faces risks from increasing competition in the tobacco packaging industry, which may lead to price reductions affecting economic benefits[56]. - The company is subject to risks from potential changes in tobacco industry regulations, which could significantly impact operations[59]. Environmental and Regulatory Compliance - The company’s major pollutants include volatile organic compounds (VOCs), nitrogen oxides (NOx), sulfur dioxide (SO2), and particulate matter, all of which comply with national and local environmental regulations[69]. - The company has implemented pollution control facilities, such as RTO, which are currently operating normally to manage emissions from production processes[70]. - The company has established an emergency response plan for environmental incidents in compliance with relevant laws and regulations[71]. - The company has developed a self-monitoring plan for environmental protection in accordance with national standards[72]. - The company has taken measures to strengthen control over waste, emissions, and noise, fulfilling its environmental responsibilities[74]. - The company has not reported any administrative penalties related to environmental issues during the reporting period[73]. Shareholder and Corporate Governance - The total number of ordinary shareholders at the end of the reporting period was 10,263, with no preferred shareholders[101]. - The largest shareholder, Xu Shanshui, holds 153,789,500 shares, representing 40.45% of total shares[102]. - The company has no significant guarantees or major contracts that are yet to be fulfilled during the reporting period[98]. - The total number of shares outstanding is 380,238,957, with 372,566,957 being freely tradable[101]. - The company reported no related party transactions in its rental agreements[97]. - The company guarantees that all related party transactions will be fair and conducted according to normal commercial practices[83]. - The company will not transfer or delegate management of its shares for 36 months post-IPO[84]. - If the company's stock price falls below the IPO price for 20 consecutive trading days, the lock-up period will automatically extend by 6 months[84]. - The company has committed to maintaining transparency and compliance with all regulatory requirements, reinforcing its corporate governance[92]. Financial Position and Assets - The total current assets as of June 30, 2021, amounted to CNY 984,235,144.64, an increase from CNY 897,567,503.95 at the end of 2020, reflecting a growth of approximately 9.66%[111]. - The total assets of the company reached CNY 1,697,676,766.54 as of June 30, 2021, compared to CNY 1,615,818,779.58 at the end of 2020, indicating an increase of about 5.06%[112]. - The company's cash and cash equivalents were CNY 633,302,224.91 as of June 30, 2021, slightly down from CNY 637,682,707.10 at the end of 2020[111]. - Accounts receivable decreased to CNY 91,872,236.03 from CNY 100,263,185.64, representing a decline of approximately 8.66%[111]. - Inventory increased significantly to CNY 147,771,617.67 from CNY 110,526,748.15, marking a rise of about 33.67%[111]. - The total liabilities as of June 30, 2021, were CNY 443,105,597.55, up from CNY 378,848,541.86 at the end of 2020, reflecting an increase of approximately 16.93%[112]. - The company's short-term borrowings were not specified in the report, indicating a potential focus on maintaining liquidity[112]. - The total non-current assets were CNY 713,441,621.90 as of June 30, 2021, slightly down from CNY 718,251,275.63 at the end of 2020[112]. Research and Development - Research and development expenses were ¥18,681,211.60, a decrease of 14.73% from the previous year, indicating a focus on efficiency[47]. - The company is investing heavily in R&D, with a budget allocation of 150 million for new technology development in 2021[92]. - Research and development expenses for the first half of 2021 were ¥18,681,211.60, down from ¥21,907,567.80 in the same period of 2020, indicating a strategic shift in R&D spending[119]. Acquisitions and Strategic Plans - The company completed an acquisition, ensuring no competition with its existing business operations[81]. - The company has committed to avoiding any business competition with its subsidiaries post-acquisition[81]. - The company is considering strategic acquisitions to enhance its product portfolio, with potential targets identified in the tech sector[92]. - The company has a long-term plan to expand into overseas markets, although current revenue primarily comes from domestic clients[58].

Financial Performance - Net profit attributable to shareholders increased by 650.84% to CNY 31,458,838.79 compared to the same period last year[7] - Operating revenue rose by 70.22% to CNY 142,842,079.54 year-on-year[7] - Basic earnings per share increased by 700% to CNY 0.08 compared to the same period last year[7] - The company reported a significant increase in net profit after deducting non-recurring gains and losses, which rose by 752.95% to CNY 29,095,174.08[7] - Operating profit for Q1 2021 was ¥35,976,140.14, up from ¥4,916,421.84 in Q1 2020, reflecting a growth of 631.5%[24] - Net profit for Q1 2021 was ¥31,058,274.63, compared to ¥3,418,983.07 in Q1 2020, representing an increase of 809.5%[25] - The company’s total comprehensive income for Q1 2021 was ¥17,741,509.56, a significant improvement from a loss of ¥4,811,650.76 in Q1 2020[29] Cash Flow - Net cash flow from operating activities surged by 828.80% to CNY 67,349,292.28 compared to the same period last year[7] - The net cash flow from investing activities improved by 50.45%, with a net outflow of CNY -49,534,353.69 compared to CNY -99,974,896.62 in the previous year[14] - The cash flow from operating activities for Q1 2021 was ¥67,349,292.28, a substantial increase from ¥7,251,209.45 in Q1 2020[31] - Cash inflow from financing activities totaled $97,489,200.00, with net cash flow from financing activities at $97,245,921.53 after outflows[34] - The net increase in cash and cash equivalents was $24,222,909.68, resulting in an ending balance of $471,072,718.10[34] Assets and Liabilities - Total assets increased by 3.55% to CNY 1,673,220,642.54 compared to the end of the previous year[7] - The company's total assets as of March 31, 2021, were CNY 1,673,220,642.54, up from CNY 1,615,818,779.58 at the end of 2020[17] - Total liabilities for Q1 2021 were ¥552,951,290.02, compared to ¥540,614,720.18 in Q1 2020, showing an increase of 2.5%[22] - The total number of shareholders reached 12,232 by the end of the reporting period[10] Shareholder Information - The largest shareholder, Xu Shanshui, holds 40.45% of the shares, totaling 153,789,500 shares[10] Research and Development - Research and development expenses for Q1 2021 were ¥9,983,772.95, down from ¥12,736,251.29 in Q1 2020, a decrease of 21.7%[24] - Research and development expenses for Q1 2021 were ¥4,424,621.77, an increase from ¥3,534,340.35 in Q1 2020, indicating a focus on innovation[28] Other Income - The company received other income of CNY 2,638,795.15 in Q1 2021, a 94.82% increase from CNY 1,354,472.81 in Q1 2020, mainly due to increased government subsidies[13] - The company reported other income of ¥1,948,500.74 in Q1 2021, compared to ¥1,074,630.59 in Q1 2020, reflecting improved financial performance[28] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[28]