2023 年第一季度报告 证券代码：603681 证券简称：永冠新材 转债代码：113653 转债简称：永 22 转债 上海永冠众诚新材料科技（集团）股份有限公司 2023 年第一季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比上年同期增 | | --- | --- | --- | | | | 减变动幅度(%) | | 营业收入 | 1,178,926,848.09 | 9.76 | | 归属于上市公司股东的净利润 | -15,423,783.77 | -122.82 | | 归属于上市公司股东的扣除 ...

Financial Performance - The company's operating revenue for Q3 2022 reached ¥1,427,300,206.43, representing a year-on-year increase of 46.72%[5] - The net profit attributable to shareholders for Q3 2022 was ¥80,278,409.84, an increase of 26.17% compared to the same period last year[6] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2022 was ¥116,026,481.50, up 110.17% year-on-year[6] - Total operating revenue for the first three quarters of 2022 reached ¥3,740,340,228.66, up from ¥2,649,961,157.23 in the same period of 2021, representing an increase of approximately 40.98%[19] - Net profit for the first three quarters of 2022 amounted to ¥237,847,816.63, compared to ¥194,400,767.89 in 2021, marking an increase of around 22.34%[21] - The total comprehensive income for the third quarter of 2022 was approximately ¥244.61 million, an increase from ¥195.48 million in the same period of 2021, representing a growth of about 25%[22] Assets and Liabilities - Total assets at the end of Q3 2022 amounted to ¥6,613,904,233.81, reflecting a 40.56% increase from the end of the previous year[6] - The total assets as of the end of the third quarter of 2022 were ¥6,613,904,233.81, up from ¥4,705,528,530.19 at the end of the same period in 2021, representing a growth of approximately 40.59%[17] - Total liabilities increased to ¥4,117,866,393.90 in the third quarter of 2022, compared to ¥2,469,204,580.91 in 2021, reflecting a rise of about 66.78%[17] - The company's total non-current assets reached ¥2,547,339,001.37, compared to ¥2,118,259,563.05 in the previous year, indicating an increase of approximately 20.29%[17] Cash Flow - The company reported a net cash flow from operating activities of ¥341,684,538.59 for the year-to-date period[6] - Cash inflow from operating activities for the first nine months of 2022 was ¥3.85 billion, compared to ¥2.61 billion in the same period of 2021, reflecting a growth of approximately 47.5%[25] - The net cash flow from operating activities for Q3 2022 was ¥341.68 million, a significant recovery from a negative cash flow of ¥50.78 million in Q3 2021[26] - The company reported a net cash outflow from investing activities of ¥556.31 million for the first nine months of 2022, an improvement from a net outflow of ¥705.34 million in the same period of 2021[26] - Cash and cash equivalents at the end of Q3 2022 totaled ¥2.26 billion, a substantial increase from ¥862.50 million at the end of Q3 2021[27] Shareholder Information - The total equity attributable to shareholders at the end of Q3 2022 was ¥2,481,390,088.69, an increase of 11.71% compared to the previous year[6] - The company reported a total of 77,993,820 shares held by the largest shareholder, Lü Xinmin, accounting for 40.81% of total shares[12] - The second-largest shareholder, Guo Xueyan, holds 15,003,600 shares, representing 7.85% of total shares[12] - The top ten shareholders collectively hold a significant portion of the company's equity, with the largest three shareholders alone accounting for over 50%[12] Future Outlook and Strategy - The increase in operating revenue is attributed to the gradual release of production capacity from previously invested equipment and growth in sales volume[9] - The company plans to continue expanding production capacity and increasing long-term asset investments to support future growth[9] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[28] - The company has not provided specific future guidance or outlook for the upcoming quarters in this report[13] Other Information - The company has not disclosed any significant new product developments or technological advancements during this reporting period[13] - There are no indications of any mergers or acquisitions being pursued by the company as of the latest report[13] - The company has not reported any net profit from subsidiaries prior to consolidation in the current and previous periods[22]

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 2,313,040,022.23, representing a 37.92% increase compared to CNY 1,677,148,186.69 in the same period last year[21]. - The net profit attributable to shareholders for the first half of 2022 was CNY 157,926,689.16, up 20.76% from CNY 130,777,284.86 year-on-year[21]. - The net cash flow from operating activities improved significantly to CNY 178,268,114.04, compared to a negative cash flow of CNY -55,698,934.41 in the previous year[21]. - The company's total assets increased by 16.17% to CNY 5,466,482,967.64 from CNY 4,705,528,530.19 at the end of the previous year[21]. - The basic earnings per share for the first half of 2022 was CNY 0.83, a 5.06% increase from CNY 0.79 in the same period last year[22]. - The weighted average return on equity decreased to 6.88% from 8.09% year-on-year, indicating a slight decline in profitability[22]. - Non-recurring gains and losses for the period totaled CNY 13,281,214.29, reflecting various adjustments and government subsidies[23]. Market Overview - The global adhesive tape market is projected to grow at a compound annual growth rate (CAGR) of 5% from 2021, potentially reaching USD 75 billion by 2025, indicating significant market expansion opportunities[31]. - The domestic adhesive tape market size increased from 24.47 billion yuan in 2009 to 46.55 billion yuan in 2019, with a compound annual growth rate (CAGR) of 6.64%[32]. - The domestic adhesive tape market is expected to reach a sales volume of 43.9 billion square meters and a market size of 62.7 billion yuan by 2025, with a CAGR of 8.15% and 4.99% from 2021 to 2025, respectively[32]. - The company serves over 26,000 customers across more than 110 countries, indicating a broad market presence and customer base[41]. Research and Development - The company has developed 13 invention patents and 37 utility model patents, showcasing its strong technological capabilities in adhesive tape production[40]. - The company is actively engaging in research and development of biodegradable materials and high-performance fibers[5]. - The company has invested 1,300 million USD in new product development, focusing on adhesive products and packaging materials[5]. Environmental Responsibility - The company has invested a total of 152 million yuan in environmental protection from 2015 to the first half of 2022, including the construction of waste gas recovery and solvent recovery systems[50]. - The company has implemented various pollution control measures, including activated carbon adsorption and RTO systems, with emissions discharged through 15-meter high chimneys[108]. - The company is committed to maintaining environmental responsibility as part of its operational strategy[107]. - The company has established a closed collection system for waste gases to minimize emissions[108]. Corporate Governance - The report includes a risk statement indicating uncertainties in future plans and strategies, which do not constitute a commitment to investors[5]. - The company guarantees the authenticity, accuracy, and completeness of the semi-annual report, with all board members present at the meeting[7]. - The company held two shareholder meetings during the reporting period, complying with all legal and regulatory requirements[98]. - The company appointed Li Yingda as the secretary of the board and deputy general manager on April 6, 2022[100]. Strategic Initiatives - The company aims to enhance its product offerings in high-tech adhesive products, including automotive wiring harness tapes and biodegradable tapes, to capture more market share[29]. - The company has established a production base in Vietnam to mitigate geopolitical risks and enhance its global marketing channels[46]. - The company has expanded its production capacity by establishing new bases in Vietnam and Shandong, aiming to enhance profitability and market competitiveness amid ongoing US-China trade tensions[52]. Risk Management - The report includes a comprehensive overview of the company's governance and social responsibility initiatives[8]. - The company is facing risks related to raw material price fluctuations, which could significantly impact its operating performance[88]. - The company is also exposed to exchange rate fluctuations, primarily due to its export sales being denominated in USD[89]. Shareholder Information - The company did not distribute cash dividends, issue bonus shares, or increase capital from reserves for the first half of 2022[4]. - The company has not proposed any profit distribution or capital reserve increase plans for the half-year period[101]. - The total number of shareholders as of the end of the reporting period is 10,138[160]. Financial Position - The total amount used for share repurchase should not be less than 5% and not exceed 20% of the previous year's net profit attributable to shareholders[128]. - The company's credit rating remains stable at "AA-" for both the company and the "Yong 22 Convertible Bond" as of the first half of 2022[176]. - The total assets at the end of the reporting period were ¥5,469,000,000, with cash and cash equivalents accounting for 23.39% of total assets[73].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 1,074,070,355.48, representing a year-on-year increase of 51.26%[5] - The net profit attributable to shareholders was CNY 67,602,204.52, reflecting an increase of 11.85% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 44,000,252.13, up by 5.84% year-on-year[5] - The basic earnings per share for the period was CNY 0.35, a decrease of 2.78% compared to the previous year[6] - The diluted earnings per share for the period was also CNY 0.35, an increase of 9.37% year-on-year[6] - The company reported a total comprehensive income of CNY 66,728,355.19 for Q1 2022, compared to CNY 60,819,266.64 in the same period last year[21] - Earnings per share (EPS) for Q1 2022 were CNY 0.35, slightly down from CNY 0.36 in Q1 2021[21] Cash Flow and Liquidity - The net cash flow from operating activities was CNY 39,001,008.70, with no applicable year-on-year comparison[6] - The net cash flow from operating activities was CNY 39,001,008.7, recovering from a negative cash flow of CNY -96,606,968.65 in Q1 2021[24] - The cash and cash equivalents at the end of Q1 2022 were CNY 1,014,803,607.17, an increase from CNY 957,154,834.49 at the end of Q1 2021[25] - Cash and cash equivalents amounted to RMB 1,049,928,658.6 as of March 31, 2022, compared to RMB 981,194,725.87 at the end of 2021, showing an increase of about 7%[15] Assets and Liabilities - The total assets at the end of the reporting period were CNY 5,050,235,150.65, an increase of 7.33% from the end of the previous year[6] - Total liabilities as of March 31, 2022, were RMB 2,745,572,697.91, up from RMB 2,469,204,580.91 at the end of 2021, reflecting an increase of approximately 11.2%[17] - The company's total assets reached RMB 5,050,235,150.65 as of March 31, 2022, compared to RMB 4,705,528,530.19 at the end of 2021, indicating an increase of approximately 7.3%[16] - Non-current assets totaled RMB 2,372,289,534.64 as of March 31, 2022, compared to RMB 2,118,259,563.05 at the end of 2021, representing a growth of about 12%[16] Operational Highlights - The company reported a significant increase in sales scale, which was the primary reason for the growth in operating revenue and cash flow from operating activities[9] - Total operating costs for Q1 2022 were RMB 1,020,165,203.83, compared to RMB 659,625,161.51 in Q1 2021, indicating an increase of about 54.7%[19] - Research and development expenses increased to CNY 32,113,136.87, a rise of 31.7% from CNY 24,392,649.22 in the previous year[20] Inventory and Receivables - Current assets as of March 31, 2022, totaled RMB 2,677,945,616.01, up from RMB 2,587,268,967.14 at the end of 2021, reflecting a growth of approximately 3.5%[15] - Accounts receivable increased to RMB 621,337,438.85 in Q1 2022 from RMB 588,761,258.09 in Q4 2021, marking a rise of approximately 5.5%[15] - Inventory levels rose to RMB 662,385,250.46 as of March 31, 2022, compared to RMB 615,342,010.97 at the end of 2021, indicating an increase of about 7.6%[15] Non-Recurring Items - Non-recurring gains and losses for the period totaled CNY 23,601,952.39 after tax adjustments[9] - The company experienced a foreign exchange loss of CNY -5,479,175.2 during the quarter[25] Investment Activities - Investment activities resulted in a net cash outflow of CNY -213,676,452.91, worsening from CNY -121,097,155.52 in Q1 2021[24] - The company’s total liabilities increased, with cash received from borrowings amounting to CNY 457,377,121.9, compared to CNY 76,000,000 in the previous year[25]

Financial Performance - The company's operating revenue for 2021 was CNY 3,840,048,136.62, representing a 59.07% increase compared to CNY 2,414,078,217.26 in 2020[24]. - The net profit attributable to shareholders for 2021 was CNY 225,511,978.96, up 28.50% from CNY 175,501,135.23 in 2020[24]. - The net cash flow from operating activities decreased significantly by 94.39% to CNY 12,069,860.21 from CNY 215,180,894.16 in 2020[24]. - The basic earnings per share for 2021 was CNY 1.31, a 24.76% increase from CNY 1.05 in 2020[25]. - The diluted earnings per share rose by 14.29% to CNY 1.20 in 2021, compared to CNY 1.05 in 2020[25]. - The total assets increased by 38.60% to CNY 4,705,528,530.19 in 2021 from CNY 3,395,112,649.10 in 2020[24]. - The company's net assets attributable to shareholders grew by 42.68% to CNY 2,221,318,915.69 in 2021 from CNY 1,556,870,474.73 in 2020[24]. - The total profit amounted to CNY 251,339,200, reflecting a 28.50% increase compared to the previous year[68]. - The net profit after deducting non-recurring gains and losses was CNY 188,131,100, marking a significant growth of 56.79%[68]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 2.00 RMB per 10 shares to all shareholders, pending approval at the shareholders' meeting[6]. - The company has proposed a three-year shareholder dividend return plan for 2021-2023[171]. - The company implemented a cash dividend policy, ensuring that at least 10% of the distributable profit is allocated as cash dividends annually, with a minimum of 20% of the distribution being cash if there are significant capital expenditures planned[198]. - The company achieved a net profit of ¥42,414,721.72 for the year 2021, with a profit distribution plan proposing a cash dividend of ¥2.00 per 10 shares, totaling ¥38,225,974.20 (including tax) to be distributed[199]. Risk Management and Compliance - The company has outlined potential risks in its future development strategy, which investors should be aware of[9]. - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties[8]. - The company has not reported any violations of decision-making procedures regarding external guarantees[8]. - The company emphasizes the importance of the accuracy and completeness of the annual report, with all board members present at the meeting[4]. - The company is focused on risk management by utilizing hedging tools to mitigate raw material and exchange rate fluctuations[142]. - The company faces risks from raw material price fluctuations, which are influenced by upstream prices and market supply-demand dynamics, despite ongoing improvements in production technology[157]. - The company is exposed to exchange rate risks due to its reliance on USD for export sales, with plans to use foreign exchange derivatives for risk hedging[158]. Operational Developments - The company has established production bases in Vietnam and Shandong to mitigate the impact of US-China trade tensions and reduce transportation costs[37]. - The company has multiple projects underway, including an annual production capacity of 73.8 million square meters of water-based PVC adhesive products, which has already been put into production[38]. - The company is enhancing its management through the integration of data, information, and industrialization, improving overall efficiency and accuracy[39]. - The company is actively investing in research and development to foster innovation and expand its product offerings[36]. - The company is investing in smart manufacturing projects to enhance automation and efficiency, aiming for a three-year transformation towards automation[49]. - The company has initiated a project for intelligent manufacturing upgrades, with the first phase of the Jiangxi Yongguan intelligent manufacturing project already in operation[148]. Market and Product Strategy - The company operates in the adhesive products sector, focusing on various types of adhesive tapes and materials[17]. - The company is expanding into high-value adhesive products, including biodegradable tapes and specialty adhesives, to capture new market opportunities[54]. - The company aims to achieve breakthroughs in high-end adhesive products and seeks to replace imported products with domestic alternatives[105]. - The company is focusing on developing biodegradable tapes and expanding into mid-to-high-end sectors such as industrial, automotive, electronics, and medical fields[142]. - The company has developed an environmentally friendly biodegradable tape that achieved a decomposition rate of 62% within 64 days, meeting international standards[45]. Customer and Market Reach - The company serves over 26,000 customers across more than 110 countries, offering a total of 61 product categories and over 49,000 variants[46]. - The company has a low customer concentration, which enhances its risk resistance and market stability[62]. - The revenue from domestic sales reached RMB 111,788.66 million, representing a year-over-year increase of 38.54%[128]. - The revenue from overseas sales was RMB 266,274.34 million, showing a significant year-over-year increase of 67.86%[128]. Governance and Management - The company held five shareholder meetings during the reporting period, all of which complied with relevant laws and regulations[171]. - The company’s board of directors includes specialized committees such as the audit committee and the strategic committee, ensuring effective governance[185]. - The management team has undergone changes, with the recent passing of a board member, impacting future governance[176]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period was 5.5432 million yuan[179]. - The company’s board of directors has not faced any objections regarding its operations during the reporting period[185]. Research and Development - The company’s R&D expenses increased by 29.43% to CNY 138,314,099.23, indicating a strong commitment to innovation[69]. - The company is committed to research and development in high-performance fibers and composite materials, aiming to innovate within the industry[140]. - The company has increased its investment in new product technology development to enhance market competitiveness[86]. - The company is investing 100 million yuan in R&D for new technologies aimed at enhancing product efficiency[177]. Environmental and Social Responsibility - The company has invested CNY 123 million in environmental protection from 2015 to 2021, enhancing its compliance with environmental regulations[66]. - The company is committed to enhancing safety and environmental protection measures to mitigate associated risks[42]. - The company aims to promote environmentally friendly products, including biodegradable tapes, in line with national policies and market trends[141].

Financial Performance - The company's operating revenue for Q3 2021 was ¥972,812,970.54, representing a year-on-year increase of 47.31%[5] - The net profit attributable to shareholders for Q3 2021 was ¥63,625,872.13, a decrease of 9.06% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥55,205,273.02, an increase of 42.88% year-on-year[5] - The company reported a 52.57% increase in operating revenue for the year-to-date period compared to the same period last year, driven by effective pandemic control and rapid business development[10] - The company’s net profit attributable to shareholders for the year-to-date period increased by 40.24%, supported by the production launch of BOPP film lines[10] - Net profit for the third quarter of 2021 was ¥194,400,767.89, compared to ¥138,623,186.30 in the same quarter of 2020, reflecting a growth of approximately 40.2%[21] - Basic and diluted earnings per share for the third quarter of 2021 were both ¥1.17, up from ¥0.83 in the same quarter of 2020, marking an increase of 41.0%[22] - The total comprehensive income for the third quarter of 2021 was ¥195,481,577.97, compared to ¥138,214,664.75 in the same quarter of 2020, showing an increase of approximately 41.4%[21] Assets and Liabilities - The total assets at the end of the reporting period were ¥4,202,643,035.64, reflecting a 23.79% increase from the end of the previous year[6] - Total current assets as of September 30, 2021, amounted to ¥2,281,604,728.74, an increase from ¥2,096,678,880.62 at the end of 2020[15] - Total assets increased to ¥4,202,643,035.64 from ¥3,395,112,649.10, representing a growth of approximately 24%[16] - The total liabilities as of the end of the third quarter of 2021 amounted to ¥2,004,871,089.57, compared to ¥1,838,242,174.37 at the end of the previous year, showing an increase of about 9.1%[20] - Total current liabilities as of September 30, 2021, were ¥1,309,090,233.42, up from ¥1,196,426,809.83[16] - Long-term borrowings increased significantly to ¥638,878,002.66 from ¥141,169,350.00[16] - Total liabilities rose to 1,849,180,806.97 RMB, compared to 1,838,242,174.37 RMB, indicating a slight increase of approximately 0.05%[28] Equity - The company’s total equity attributable to shareholders increased by 40.68% year-on-year, primarily due to the issuance of convertible bonds and increased net profit[10] - The total equity attributable to shareholders of the parent company reached ¥2,190,274,335.17, up from ¥1,556,870,474.73 in the previous year, representing an increase of approximately 40.6%[20] - The company's total equity remained stable at 1,556,870,474.73 RMB, unchanged from the previous reporting period[28] Cash Flow - The cash flow from operating activities showed a net outflow of ¥50,781,997.70, a decrease of 131.78% year-on-year[6] - Cash flow from operating activities for the first three quarters of 2021 was negative at -¥50,781,997.70, compared to a positive cash flow of ¥159,774,785.39 in the same period of 2020[23] - The net cash flow from investment activities was -705,336,931.17 RMB, a decrease from -396,187,631.78 RMB in the previous year, indicating a significant increase in cash outflows[24] - Total cash inflow from financing activities reached 1,365,389,019.33 RMB, compared to 910,422,389.49 RMB in the same period last year, reflecting a 50% increase[24] - The net cash flow from financing activities was 421,678,258.54 RMB, down from 621,256,675.10 RMB year-over-year, showing a decline of approximately 32%[24] - The company's cash and cash equivalents at the end of the period totaled 862,500,769.28 RMB, slightly up from 833,228,342.16 RMB at the end of the previous year[24] Shareholder Information - Total number of common shareholders at the end of the reporting period was 8,020[12] - The largest shareholder, Lü Xinmin, holds 77,993,820 shares, representing 40.81% of total shares[12] Research and Development - Research and development expenses for the third quarter of 2021 were ¥103,069,911.80, compared to ¥70,304,504.83 in the same quarter of 2020, indicating an increase of approximately 46.5%[20] Deferred Income - Deferred income as of the end of the third quarter of 2021 was ¥46,236,782.67, compared to ¥23,426,112.77 in the previous year, reflecting an increase of about 97.0%[20] Inventory and Receivables - Accounts receivable increased to ¥472,438,424.30 from ¥298,695,228.40, reflecting a growth of approximately 58%[15] - Inventory rose to ¥623,182,084.73 from ¥390,222,085.05, indicating a growth of about 60%[15]

Financial Performance - The company's operating revenue for the first half of the year reached ¥1,677,148,186.69, representing a 55.80% increase compared to ¥1,076,442,303.98 in the same period last year[23]. - Net profit attributable to shareholders was ¥130,777,284.86, a significant increase of 90.49% from ¥68,654,754.61 in the previous year[23]. - The basic earnings per share rose to ¥0.79, marking a 92.68% increase from ¥0.41 in the same period last year[24]. - The company's total assets increased by 11.77% to ¥3,794,603,696.74 from ¥3,395,112,649.10 at the end of the previous year[23]. - The company's operating costs rose to ¥1,440,450,969.31 yuan, reflecting a 61.29% increase compared to the previous year[57]. - The company's total liabilities increased by 34.31% to ¥140,850,000.00, primarily due to an increase in bill payments[64]. Cash Flow and Investments - The net cash flow from operating activities was negative at -¥55,698,934.41, a decline of 165.84% compared to a positive cash flow of ¥84,593,689.78 in the same period last year[23]. - The company's cash and cash equivalents at the end of the period amounted to ¥854,990,684.44, representing 22.53% of total assets, a decrease of 30.51% compared to the previous year[63]. - The net cash flow from operating activities for the first half of 2021 was -189,209,373.74 RMB, compared to 196,816,253.42 RMB in the same period of 2020, indicating a significant decline[178]. - The net cash flow from investing activities was -332,516,899.82 RMB, compared to -106,972,647.06 RMB in the first half of 2020, reflecting increased investment expenditures[179]. Research and Development - R&D expenses increased by 42.94% to 61,789,380.16 yuan, reflecting the company's commitment to innovation[57]. - The company is actively developing biodegradable adhesive materials and automotive adhesive materials to expand its product offerings and enhance profitability[31]. - The company has a strong R&D team that has developed core technologies for adhesive products, but risks exist if the company fails to meet rising customer demands for technology and quality[82]. Environmental Responsibility - The company has invested approximately 114 million yuan in environmental protection from 2015 to mid-2021, focusing on waste gas recovery and pollution monitoring systems[44]. - The company has implemented various pollution control measures, including a 15-meter high exhaust stack for VOC emissions, and operates multiple waste gas treatment systems with capacities ranging from 50,000 to 280,000 cubic meters per hour[99]. - The company has established a comprehensive environmental management system to monitor and control emissions from various production processes, demonstrating its commitment to sustainability[99]. Corporate Governance - The board of directors confirmed that all members attended the board meeting, ensuring the report's authenticity and completeness[5]. - The management team is responsible for ensuring the financial report's integrity, with specific individuals named for accountability[6]. - The company has established an employee stock ownership plan management committee to ensure the smooth operation of the plan, which was approved in the first meeting of the plan's holders on May 6, 2021[93]. Market Position and Strategy - The global adhesive tape market is projected to grow from $47.33 billion in 2016 to $61.86 billion by 2021, with a compound annual growth rate (CAGR) of 5.5%[34]. - The company aims to cultivate new business growth points by optimizing and expanding its high-margin product categories[32]. - The company has established subsidiaries in Vietnam, Japan, and the USA to expand its marketing channels and form a global service network[38]. Risks and Challenges - The report includes a detailed description of potential risks the company may face, which investors should be aware of[9]. - The company faces risks related to raw material price fluctuations, which significantly impact production costs[77]. - The company is facing increased competition in the adhesive and tape industry, with international brands like 3M and Henkel entering the domestic market, putting pressure on local firms[81]. Shareholder Information - The company reported no cash dividends, stock bonuses, or capital reserve transfers to increase share capital for the first half of 2021[7]. - The company has committed to maintaining shareholding stability for 12 months post-IPO for certain shareholders[109]. - The company has a total of 10 controlled subsidiaries, with varying degrees of investment and profitability[75].

Financial Performance - The company's operating revenue for 2020 was CNY 2,414,078,217.26, representing a 12.58% increase compared to CNY 2,144,257,349.88 in 2019[22]. - The net profit attributable to shareholders for 2020 was CNY 175,501,135.23, an 18.36% increase from CNY 148,278,266.35 in 2019[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 18.66% to CNY 119,985,455.90 in 2020 from CNY 147,511,023.65 in 2019[22]. - The total assets of the company increased by 82.75% to CNY 3,395,112,649.10 in 2020 from CNY 1,857,775,623.44 in 2019[23]. - The basic earnings per share for 2020 was CNY 1.05, a 10.53% increase from CNY 0.95 in 2019[24]. - The cash flow from operating activities for 2020 was CNY 215,180,894.16, a 7.22% increase compared to CNY 200,697,409.12 in 2019[22]. - The company reported a quarterly revenue of CNY 677,596,739.02 in Q2 2020, which was the highest quarterly revenue for the year[26]. - The company's 2020 revenue reached 2.414 billion yuan, a year-on-year increase of 12.58%[48]. - The company reported a net profit of RMB 128,391,973.58 for the year 2020, with a cash dividend distribution plan of RMB 2.0 per 10 shares, totaling RMB 33,318,320.80[148]. Dividend Policy - The company plans to distribute a cash dividend of 2 RMB per 10 shares to all shareholders, pending approval at the shareholders' meeting[5]. - The cash dividend distribution for 2020 represents 18.98% of the net profit attributable to shareholders of the listed company[150]. - The company aims to maintain a cash dividend policy of at least 10% of the distributable profit annually, increasing to a minimum of 20% if there are significant capital expenditure plans[147]. Risk Factors - The company emphasizes the uncertainty of future plans and development strategies, warning investors of potential risks[6]. - The company has detailed potential risk factors in the report, which can be found in the section discussing operational conditions[7]. - The company faces risks from raw material price fluctuations, which significantly impact production costs due to reliance on materials like plastic pellets and rubber[138]. - The company is exposed to exchange rate fluctuations, particularly as it conducts export sales primarily in USD, which may affect operating performance[139]. - Increased competition in the adhesive and tape industry poses a risk, with international companies like 3M and Henkel entering the domestic market[140]. Market Position and Strategy - The company operates in the adhesive materials industry, focusing on various types of consumer and industrial adhesive products, with a global market size estimated at approximately 100 billion RMB[33]. - The adhesive tape market is projected to grow at a compound annual growth rate (CAGR) of 5.5%, reaching an estimated market size of 75 billion USD by 2025[37]. - The company aims to expand its product offerings in high-end adhesive products, including automotive harness tapes and biodegradable tapes, to achieve domestic substitution[40]. - The company has established a stable supply relationship with international brands such as 3M and Nitto, enhancing its market position[33]. - The company is positioned to capitalize on the growing demand for high-tech adhesive materials as the industry evolves towards more complex applications[36]. - The company is actively pursuing import substitution in high-end adhesive products, aiming to compete with major international brands[42]. - The company is considering mergers and acquisitions in the high-end adhesive industry to enhance its market position[59]. Research and Development - R&D expenses increased by 18.14% to ¥106,864,015.05, reflecting the company's commitment to innovation[63]. - The company has developed proprietary technologies in high-strength specialty paper and various eco-friendly adhesives, holding multiple national invention patents[42]. - The company has expanded its R&D team and achieved significant results in developing new products, including environmentally friendly OPP tape and low-temperature resistant PVC tape[101]. - The company has established a subsidiary focused on biodegradable adhesive tape products, achieving a decomposition rate of 62% within 64 days, indicating strong market potential[130]. Environmental and Social Responsibility - The company has invested nearly 100 million yuan in environmental protection from 2015 to 2020, including the construction of waste gas recovery and solvent recovery systems[45]. - The company is recognized as a key pollutant discharge unit in Jiangxi Province, with various environmental protection measures in place for waste gas and wastewater treatment[188]. - The company has established a pollution control facility with a processing capacity of 280,000 cubic meters per hour for VOC treatment, which is currently operating normally[191]. - The company has a wastewater treatment system with a designed processing capacity of 1,000 tons per day, and it is functioning normally[191]. - The company adheres to labor laws and regulations, providing social security benefits to employees[186]. Corporate Governance - The company has confirmed that all board members attended the board meeting, ensuring governance compliance[4]. - The company has implemented a robust internal control system and governance structure to protect the rights of shareholders and creditors[185]. - The company has committed to ensuring that its controlling shareholders do not engage in competitive activities with the company[170]. - The company will ensure accurate and timely information disclosure regarding any share reduction activities[162].

Financial Performance - Operating revenue for the first quarter was ¥710,063,680.17, representing a significant increase of 78.03% year-on-year[7]. - Net profit attributable to shareholders was ¥60,440,840.78, marking a substantial growth of 235.97% compared to the same period last year[7]. - Basic earnings per share increased to ¥0.36, up 227.27% from ¥0.11 in the same quarter last year[7]. - The company reported a significant increase in investment income, which surged by 775.05% to ¥12,762,513.58 from ¥1,458,489.74, driven by gains from derivative financial products[15]. - The total comprehensive income for Q1 2021 was ¥60,819,266.64, compared to ¥17,902,773.36 in Q1 2020, marking an increase of 239.5%[29]. - Operating profit for Q1 2021 was ¥68,904,799.58, compared to ¥18,973,108.04 in Q1 2020, reflecting a growth of 263.5%[28]. Cash Flow - The net cash flow from operating activities was -¥96,606,968.65, a decrease of 527.72% compared to the previous year[7]. - The company's cash flow from operating activities showed a negative net amount of -¥96,606,968.65, a decline of 527.72% compared to ¥22,586,549.73 in the previous period[15]. - In Q1 2021, the company reported cash inflows from operating activities of approximately ¥757.42 million, a significant increase from ¥460.16 million in Q1 2020, representing a growth of 64.5%[33]. - The net cash flow from financing activities was negative at -¥27.16 million, compared to a positive cash flow of ¥124.79 million in Q1 2020[34]. - The company experienced a net cash outflow from investing activities of approximately -¥121.10 million, a decline from a positive cash flow of ¥6.08 million in Q1 2020[34]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥3,397,605,988.10, a slight increase of 0.07% compared to the end of the previous year[7]. - Total liabilities amounted to CNY 1,779,916,246.73, down from CNY 1,838,242,174.37, showing a decline of approximately 3.2%[22]. - Current liabilities decreased to CNY 1,137,300,413.45 from CNY 1,196,426,809.83, representing a reduction of about 4.9%[21]. - Shareholders' equity increased to CNY 1,617,689,741.37 from CNY 1,556,870,474.73, reflecting a growth of about 3.4%[22]. - The company's inventory increased to ¥486,327,397.27 from ¥390,222,085.05, indicating a rise in stock levels[20]. Shareholder Information - The number of shareholders at the end of the reporting period was 13,587[10]. - The largest shareholder, Lü Xinmin, holds 46.82% of the shares, which are fully pledged[10]. Expenses - Operating costs increased by 85.30% to ¥616,252,441.76 from ¥332,571,065.14, primarily due to higher sales volume and reclassification of certain expenses[15]. - Research and development expenses rose by 33.56% to ¥24,392,649.22 from ¥18,263,815.36, reflecting increased investment in R&D activities[15]. - The company’s management expenses increased by 42.61% to ¥12,010,499.54 from ¥8,421,986.61, mainly due to higher office and consulting service costs[15].

Financial Performance - Net profit attributable to shareholders rose by 28.78% to RMB 138,623,186.30 for the first nine months[6] - Operating revenue for the first nine months increased by 15.44% to RMB 1,736,829,196.04[6] - Basic and diluted earnings per share increased by 18.57% to RMB 0.83[7] - The net profit after deducting non-recurring gains and losses decreased by 7.42% to RMB 108,953,605.11[6] - Total revenue for Q3 2020 reached ¥660,386,892.06, a 18.66% increase from ¥556,652,506.60 in Q3 2019[25] - Net profit for the first three quarters of 2020 reached ¥154,911,273.19, up 23.25% from ¥125,700,493.60 in the same period of 2019[27] - The total profit for the first three quarters of 2020 was CNY 101.35 million, an increase from CNY 96.16 million in the same period of 2019[31] - The net profit for Q3 2020 was CNY 43,016,749.72, an increase of 83.5% compared to CNY 23,435,753.23 in Q3 2019[32] Assets and Liabilities - Total assets increased by 45.34% year-on-year, reaching RMB 2,700,050,804.52[6] - The company's total current assets reached RMB 1,619,891,866.12, up from RMB 1,229,691,721.13 in the previous period, indicating a growth of about 31.8%[20] - The total liabilities increased to RMB 1,221,687,574.89 from RMB 492,638,317.96, which is an increase of about 147.5%[21] - The company's equity attributable to shareholders rose to RMB 1,478,363,229.63 from RMB 1,365,137,305.48, reflecting an increase of approximately 8.3%[22] - The total liabilities as of Q3 2020 were ¥446,408,011.13 in current liabilities, with no significant changes in non-current liabilities reported[40] Cash Flow - Net cash flow from operating activities increased by 34.78% to RMB 159,774,785.39[6] - The cash flow from operating activities for the first nine months of 2020 was CNY 159,774,785.39, up from CNY 118,547,168.81 in the same period of 2019, representing a growth of 34.7%[33] - The company reported cash inflow from financing activities of CNY 910,422,389.49 in the first nine months of 2020, compared to CNY 517,411,309.20 in the same period of 2019, reflecting a growth of 75.9%[34] - Total cash inflow from operating activities was ¥1,148,903,728.39, while cash outflow was ¥1,067,165,704.33, resulting in a net cash inflow[37] Shareholder Information - The total number of shareholders reached 14,871 by the end of the reporting period[11] - The largest shareholder, Lv Xinmin, holds 46.82% of the shares, totaling 77,993,820 shares[11] Expenses - Sales expenses increased by 34.08% to RMB 54,660,627.41, reflecting higher operating income[15] - Management expenses grew by 45.79% to RMB 31,031,110.27, mainly due to increased rental fees and utility costs[15] - Financial expenses were reported at RMB 15,884,658.93, a significant increase due to interest expenses and foreign exchange losses[15] Government Support - The company received government subsidies amounting to RMB 19,738,740.41 during the reporting period[8] Investment and R&D - R&D expenses for Q3 2020 amounted to ¥27,078,409.69, compared to ¥24,247,888.06 in Q3 2019, reflecting a 7.56% increase[27] - The company reported a significant increase in prepayments to RMB 55,352,327.38 from RMB 32,042,605.98, which is an increase of about 72.7%[19] Accounting Standards - The company has implemented new accounting standards effective January 1, 2020, impacting the financial reporting framework[46] - The company reported a contract liability adjustment of CNY 19,136,523.05 due to the implementation of the new revenue recognition standard[46]