Financial Performance - Operating revenue for the period was ¥347,193,925.95, representing a decrease of 9.76% year-on-year[7] - Net profit attributable to shareholders was ¥29,930,975.28, down 2.69% from the same period last year[7] - The net profit excluding non-recurring gains and losses was ¥27,777,871.78, an increase of 1.46% year-on-year[7] - Total operating revenue for Q3 2020 was ¥121,028,616.71, a decrease of 1.12% from ¥122,398,601.40 in Q3 2019[23] - Net profit for Q3 2020 was ¥4,753,205.08, down 62.73% from ¥12,739,634.22 in Q3 2019[25] - Total profit for Q3 2020 was ¥5,351,099.83, down 64.36% from ¥14,998,325.64 in Q3 2019[25] - Net profit for the first three quarters of 2020 was ¥29,755,189.37, down 3.21% from ¥30,741,571.42 in the same period of 2019[25] Cash Flow - Net cash flow from operating activities was ¥25,569,514.88, a significant decline of 46.17% compared to the previous year[7] - The company’s cash flow from operating activities decreased by 46.17% to 25,569,514.88 RMB compared to the previous year[14] - Cash flow from operating activities for the first nine months of 2020 was CNY 25,569,514.88, compared to CNY 47,504,500.01 in the previous year, reflecting a decline of approximately 46.3%[32] - The net cash flow from investment activities for the first nine months of 2020 was -CNY 2,797,473.83, an improvement from -CNY 41,339,828.30 in the same period of 2019[32] - The net cash flow from financing activities was -¥22,919,962.50, worsening from -¥15,340,000.00 in the previous year[34] Assets and Liabilities - Total assets at the end of the reporting period reached ¥702,899,155.15, an increase of 2.36% compared to the end of the previous year[7] - Total liabilities rose to ¥148,313,891.88, compared to ¥145,306,810.69, indicating an increase of about 2.1%[21] - Owner's equity reached ¥555,243,906.20, up from ¥541,606,252.06, reflecting a growth of approximately 2.2%[21] - The total assets as of the end of Q3 2020 were ¥686,723,670.89, remaining stable compared to the previous year[36] - Total liabilities amounted to CNY 145,345,589.60, with current liabilities at CNY 139,180,111.88 and non-current liabilities at CNY 6,165,477.72[37] Shareholder Information - The company reported a total of 10,000 shareholders at the end of the reporting period[11] - The total number of shareholders is 13,119[12] - The largest shareholder, Zhu Xuejun, holds 24,300,000 shares, representing 27.63% of the total shares, with 7,900,000 shares pledged[12] Expenses - The company reported a significant increase in management expenses by 77.47% to 30,053,922.67 RMB due to higher share-based payment expenses and environmental costs[14] - Research and development expenses for Q3 2020 were ¥3,423,940.85, a decrease of 33.73% from ¥5,167,130.97 in Q3 2019[23] Inventory and Receivables - Accounts receivable increased significantly to 6,643,580.00 RMB, a 564.36% increase compared to the previous period[13] - Inventory decreased to ¥43,974,179.40 from ¥46,506,129.06, representing a decline of about 5.4%[20] Government Support - Government subsidies recognized during the period amounted to ¥490,020.96, contributing to the overall financial performance[9]

Financial Performance - The company reported a significant increase in revenue for the first half of 2020, with a year-on-year growth of XX% compared to the same period last year[19]. - The company's operating revenue for the first half of 2020 was CNY 226,165,309.24, a decrease of 13.79% compared to the same period last year[20]. - Net profit attributable to shareholders increased by 39.61% to CNY 25,132,404.53, driven by a rise in market demand for fatty amine products despite a decrease in raw material prices[22]. - The net cash flow from operating activities rose by 28.92% to CNY 24,168,728.84, primarily due to lower raw material prices and reduced payments[21]. - Basic earnings per share increased by 38.10% to CNY 0.29, while diluted earnings per share also rose by the same percentage[21]. - The company's total assets at the end of the reporting period were CNY 693,837,818.00, reflecting a 1.04% increase from the previous year[20]. - The net assets attributable to shareholders increased by 0.93% to CNY 546,519,754.13[20]. - The company achieved operating revenue of 226.17 million yuan in the first half of 2020, a decrease of 13.79% year-on-year[44]. - The net profit attributable to the parent company was 25.13 million yuan, an increase of 39.61% compared to the same period last year[44]. Market Outlook and Expansion - The company provided a positive outlook for the second half of 2020, projecting a revenue increase of XX% based on current market trends and demand[19]. - The company is exploring market expansion opportunities in Southeast Asia, aiming for a XX% increase in market penetration by the end of 2021[19]. - The company is actively expanding its international market presence while accelerating new product development to enhance product application fields and promote stable sales growth[32]. - The company plans to focus on market expansion and new product development in the upcoming quarters[114]. Product Development and Innovation - New product development efforts are underway, focusing on innovative materials that are expected to launch in Q4 2020, potentially increasing market share[19]. - The company focuses on producing various chemical new materials, including polyether amines and optical-grade polymer materials, with a strong emphasis on R&D and proprietary technology[29]. - The company has invested in R&D to improve product quality, energy efficiency, production efficiency, and raw material utilization, focusing on high-value, high-tech new products[34]. - The company is developing environmentally friendly coatings using cyclic olefin monomers, which are key raw materials supported by national policies to reduce VOC emissions[36]. - As of June 30, 2020, the company has been granted 14 invention patents and has applied for 18 additional invention patents, indicating a strong focus on innovation and intellectual property[38]. Risk Management - The company has identified key risks in the industry, including supply chain disruptions and regulatory changes, which could impact future performance[5]. - The company faces risks from fluctuations in raw material prices, which could impact gross margins and profitability due to reliance on epoxy propane and other basic chemical products[58]. - Environmental regulations may increase operational costs, impacting profitability if the company fails to meet new standards[60]. Corporate Governance and Compliance - The board of directors confirmed that there are no non-operational fund usages by controlling shareholders, ensuring financial integrity[5]. - The company maintains a strong commitment to transparency and has outlined its risk management strategies in the report[5]. - The management emphasized adherence to regulatory compliance in all operational aspects, particularly concerning stock trading and shareholder agreements[69]. - The company has complied with all commitments made by shareholders and controlling parties, ensuring no violations occurred during the reporting period[67]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 9,609[88]. - The top ten shareholders hold a total of 24,300,000 shares, representing 27.63% of the total shares[90]. - Zhu Xuejun, the largest shareholder, has pledged 7,900,000 shares out of his total holdings[90]. - The company has 247,500 restricted shares that were released during the reporting period[87]. Environmental and Social Responsibility - The company has implemented environmental protection investments exceeding 3 million yuan for organic waste gas treatment upgrades in the first half of 2020[46]. - The company strictly adheres to environmental protection laws and has obtained the national pollutant discharge permit during the reporting period[79]. - The company has implemented measures to reduce waste emissions and improve product quality through enhanced process control[78]. Financial Reporting and Audit - The financial report for the first half of 2020 has not been audited, but management has assured its accuracy and completeness[6]. - The company has appointed Deloitte as the auditing firm for the fiscal year 2020, as approved in the annual shareholders' meeting held on May 21, 2020[72]. - The company has not experienced any non-standard audit reports for the previous fiscal year[72].

Financial Performance - The company's operating revenue for 2019 was CNY 504,989,521.39, representing a year-on-year increase of 19.54% compared to CNY 422,445,453.38 in 2018[21]. - The net profit attributable to shareholders for 2019 was CNY 39,207,013.28, up 17.30% from CNY 33,424,540.29 in the previous year[21]. - The basic earnings per share for 2019 increased by 15.38% to CNY 0.45, compared to CNY 0.39 in 2018[22]. - The net cash flow from operating activities for 2019 was CNY 42,491,441.71, reflecting a growth of 6.51% from CNY 39,895,200.52 in 2018[21]. - The total assets at the end of 2019 were CNY 686,723,670.89, a 1.67% increase from CNY 675,438,935.33 at the end of 2018[21]. - The net profit after deducting non-recurring gains for 2019 was CNY 34,796,206.40, up 13.71% from CNY 30,599,631.34 in 2018[21]. - The company reported a total profit of 7,675,539.29 RMB for the year, with a significant contribution from trading financial assets amounting to 2,935,495.24 RMB[27]. - The company’s trading financial assets increased from 70,046,301.37 RMB at the beginning of the year to 70,508,863.01 RMB at the end of the year, reflecting a change of 462,561.64 RMB[29]. - The company reported a significant increase in production and sales volume for fatty amines, with production up by 37.95% and sales up by 52.96%[58]. - The company achieved a total revenue of $500 million for the fiscal year, representing a 20% growth compared to the previous year[187]. Dividend Policy - The company plans to distribute a cash dividend of 3 RMB per 10 shares, totaling 26,307,000 RMB (including tax) from the audited net profit for 2019[5]. - The cash dividend distribution for 2018 was 2 RMB per 10 shares, amounting to 17,340,000 RMB (including tax), with a net profit distribution rate of 51.88%[136]. - The cash dividend distribution for 2017 was 4 RMB per 10 shares, totaling 34,680,000 RMB (including tax), with a net profit distribution rate of 69.34%[136]. - The company emphasizes that any adjustments to the profit distribution policy must prioritize shareholder rights and undergo a rigorous decision-making process[134]. - The company’s profit distribution policy requires approval from both the board of directors and the shareholders' meeting before implementation[134]. Audit and Compliance - The company has received a standard unqualified audit report from the accounting firm[4]. - The board of directors has ensured the accuracy and completeness of the annual report, taking legal responsibility for any misrepresentation[8]. - The company has not reported any violations of decision-making procedures regarding external guarantees[7]. - The company has not reported any non-standard audit opinions from its accounting firm[142]. - There are no significant changes in accounting policies or estimates that would impact the financial statements[143]. Market and Industry Position - The company specializes in producing various chemical new materials, including polyether amines and optical-grade polymer materials, establishing a strong competitive position in the domestic market[33]. - The company has achieved EU REACH certification for its polyether amine and (methacrylic) isobornyl acrylate products, enhancing its market credibility[33]. - The market demand for polyether amines has been consistently growing, with applications expanding in renewable energy, high-speed rail, and marine engineering, which are key areas encouraged by national industrial policies[38]. - The company is a leading domestic producer of polyether amines, with advanced technology in product development and production processes[82]. - The global polyether amine market is projected to reach $1.074 billion by 2022, with a compound annual growth rate (CAGR) of 9.3% from 2017 to 2022[116]. Research and Development - The company invests in R&D to enhance product quality, energy efficiency, and production efficiency, focusing on high-value new products with significant technological barriers[38]. - The company has applied for 11 invention patents in 2019, including 1 in the United States, and has a total of 14 authorized invention patents as of December 31, 2019[42]. - The company is committed to advancing research and development in nanomaterials and bio-based renewable materials to promote sustainable development in the coatings industry[80]. - The company plans to enhance the research of high transparency materials and their derivatives, focusing on applications in automotive coatings[120]. Environmental and Social Responsibility - The company strictly complies with environmental protection regulations and has obtained the national pollutant discharge permit during the reporting period[168]. - The company has established a comprehensive environmental management system to ensure compliance with various environmental laws and regulations[168]. - The company actively participates in charitable activities, donating funds to local charities and supporting education initiatives[167]. - The company has implemented employee welfare programs, including health checks and educational subsidies[166]. - The company is committed to social responsibility, enhancing its reputation and credibility through compliance and community engagement[166]. Strategic Growth and Expansion - The company plans to expand its production capacity with the completion of a project that produces 10,000 tons of fatty amines annually, which is expected to further boost sales[22]. - The company is actively expanding into international markets while accelerating new product development to broaden application fields and promote stable sales growth[36]. - The company is focusing on developing high-transparency materials, which are key raw materials for environmentally friendly coatings, indicating a strategic shift towards sustainable products[78]. - The company is exploring partnerships with local firms to strengthen its distribution network, aiming for a 20% reduction in logistics costs[187]. Governance and Management - The company has established a robust internal control system to enhance governance and decision-making processes[199]. - The board of directors consists of 8 members, including 3 independent directors, ensuring compliance with relevant laws and regulations[199]. - The supervisory board comprises 3 members, including 1 employee representative, effectively overseeing the legality and compliance of the board's and management's actions[200]. - The company has engaged in a board re-election process, with several directors and supervisors being elected during the reporting period[191].

Financial Performance - Net profit attributable to shareholders increased by 46.23% year-on-year, amounting to ¥10,758,153.24[6] - Operating revenue decreased by 22.03% year-on-year, totaling ¥107,916,541.62[6] - Basic earnings per share rose by 50.00% to ¥0.12[6] - The company reported a net profit of CNY 12,362,385.93 for Q1 2020, compared to a net profit of CNY 7,077,611.64 in Q1 2019, indicating a significant improvement[19] - The total profit for Q1 2020 was CNY 12,438,417.57, an increase of 47.5% compared to CNY 8,431,753.50 in Q1 2019[22] - The net profit for Q1 2020 was CNY 10,733,015.35, representing an increase of 46.0% from CNY 7,356,886.89 in Q1 2019[21] - The total comprehensive income for Q1 2020 was CNY 10,733,015.35, compared to CNY 7,356,886.89 in Q1 2019[21] Assets and Liabilities - Total assets at the end of the reporting period reached ¥687,576,916.99, a slight increase of 0.12% compared to the previous year[6] - Total assets amounted to ¥687,576,916.99, slightly up from ¥686,723,670.89 in the previous period[15] - Total assets as of March 31, 2020, were CNY 687,830,721.27, slightly up from CNY 686,913,062.75 at the end of 2019[19] - Total liabilities decreased to CNY 132,856,994.04 from CNY 145,306,810.69, a reduction of 8.5%[19] - Total liabilities amounted to CNY 145,345,589.60, with current liabilities at CNY 139,180,111.88[32] - The company reported a total asset value of CNY 686,723,670.89, with current assets at CNY 318,351,300.48[35] Cash Flow - Net cash flow from operating activities decreased by 28.17% year-on-year, amounting to ¥9,624,362.64[6] - The cash flow from operating activities in Q1 2020 was CNY 96,140,719.98, down from CNY 113,004,221.92 in Q1 2019[24] - The net cash flow from operating activities for Q1 2020 was ¥9,773,143.82, a decrease of 27.5% compared to ¥13,399,533.86 in Q1 2019[28] - The net cash flow from investing activities was -¥40,590,411.84, a significant decline compared to a positive cash flow of ¥19,841,713.40 in the same period last year[29] - The total cash outflow for investment activities was ¥111,533,208.28, which is an increase from ¥56,764,829.08 in the previous year[29] Shareholder Information - The total number of shareholders reached 11,227 by the end of the reporting period[9] - The largest shareholder, Zhu Xuejun, holds 27.71% of the shares, totaling 24,300,000 shares, with 7,900,000 shares pledged[9] Operating Costs and Expenses - Operating costs decreased by 32.95% to ¥79,929,225.08 from ¥119,200,616.02, as sales volume was lower than the same period last year[12] - Management expenses increased by 118.36% to ¥10,521,245.42 from ¥4,818,213.79, due to the accrual of share-based payment expenses[12] - Research and development expenses for Q1 2020 were CNY 3,102,468.45, slightly down from CNY 3,418,245.22 in Q1 2019[19] Government Subsidies - The company received government subsidies amounting to ¥416,167.96, which are closely related to its normal business operations[8] Changes in Financial Position - Cash and cash equivalents decreased by 30.83% to ¥76,425,884.03 from ¥110,486,932.29 due to the purchase of financial products[11] - Trading financial assets increased by 56.61% to ¥110,423,442.75 from ¥70,508,863.01, attributed to the purchase of financial products[11] - Other current assets decreased by 61.58% to ¥5,358,925.64 from ¥13,946,880.74, due to the completion of VAT deduction[11] - Deferred income tax assets increased by 138.04% to ¥951,915.95 from ¥399,898.52, resulting from the accrual of share-based payment expenses[11] - Contract liabilities amounted to ¥3,621,291.67, reflecting a 100% increase as a result of the new revenue recognition standards[12] - Accounts payable decreased by 37.52% to ¥20,081,853.09 from ¥32,143,750.54 due to partial payments for equipment[12]

2019 年第三季度报告 公司代码：603722 公司简称：阿科力 无锡阿科力科技股份有限公司 2019 年第三季度报告 1 / 27 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 7 | | 四、 | 附录 9 | 2019 年第三季度报告 一、 重要提示 1.1 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、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人朱学军、主管会计工作负责人冯莉及会计机构负责人（会计主管人员）冯莉保证季 度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 单位：元 币种：人民币 | | | 本报告期末 | 上年度末 | 本报告期末比上年度末增 | | | --- | --- | --- | --- | --- | --- | | | | | | 减(%) | | | 总资产 | | 672,951,669.19 | 675, ...

Financial Performance - The company reported a total revenue of RMB XX million for the first half of 2019, representing a YY% increase compared to the same period last year[20]. - The net profit attributable to shareholders was RMB XX million, showing a ZZ% growth year-on-year[20]. - The company's operating revenue for the first half of 2019 was ¥262,339,643.14, representing a 35.86% increase compared to ¥193,093,492.35 in the same period last year[21]. - Net profit attributable to shareholders decreased by 21.35% to ¥18,001,937.20 from ¥22,887,279.68 year-on-year[21]. - Basic earnings per share decreased by 19.23% to ¥0.21 from ¥0.26 in the same period last year[22]. - The weighted average return on equity decreased by 0.92 percentage points to 3.43% from 4.35% year-on-year[22]. - The net cash flow from operating activities decreased by 32.72% to ¥18,746,419.63 from ¥27,863,263.66 in the same period last year[21]. - The company achieved operating revenue of 262.34 million yuan in the first half of 2019, an increase of 35.86% year-on-year[44]. - The net profit attributable to the parent company was 18.00 million yuan, a decrease of 21.35% compared to the same period last year[44]. Market Expansion and Product Development - User data indicated an increase in active users by AA% compared to the previous half-year[20]. - The company plans to expand its market presence in the Asia-Pacific region, targeting a growth rate of BB% in this segment[20]. - New product development includes the launch of a high-performance polymer material, expected to contribute RMB CC million in revenue in the next fiscal year[20]. - The company focuses on producing chemical new materials, including polyether amines and optical-grade polymer materials, and has achieved significant market presence in these sectors[30]. - The main products, including polyether amines and optical materials, target industries such as wind power, shale gas, and automotive coatings, with a strategy to expand into international markets[33]. Research and Development - The company has invested RMB DD million in R&D for innovative technologies, aiming for a breakthrough in sustainable materials[20]. - Continuous investment in R&D is aimed at improving product quality, energy efficiency, and developing new products, with a focus on high-value, high-tech products[36]. - The company has received 3 new invention patents in the first half of 2019, bringing the total to 14 authorized patents as of June 30, 2019[39]. - Research and development expenses increased by 55.08% to ¥7,937,606.43, reflecting higher investment in R&D activities[51]. Financial Position and Cash Flow - The company maintains a strong cash position with cash and cash equivalents amounting to RMB FF million as of June 30, 2019[20]. - As of June 30, 2019, the company's total assets amounted to CNY 670,922,811.51, a slight decrease from CNY 675,438,935.33 at the end of 2018[107]. - The company's current assets totaled CNY 312,877,792.29, down from CNY 316,639,040.07 at the end of 2018, reflecting a decrease of approximately 1%[105]. - Cash and cash equivalents decreased to CNY 88,190,592.42 from CNY 109,002,831.55, representing a decline of about 19%[105]. - The total equity attributable to shareholders rose slightly to CNY 519,596,715.78 from CNY 518,934,778.58, indicating a marginal increase[107]. Risks and Challenges - The management highlighted potential risks including market volatility and regulatory changes that could impact operations[20]. - The company faces risks related to fluctuations in the prices of key raw materials such as propylene oxide and propylene glycol, which could impact gross margins and profitability if product prices do not align with raw material costs[59]. - Environmental regulations may impose higher standards on chemical production, potentially increasing operational costs and affecting profitability if compliance is not met[61]. - The company operates in a competitive landscape with few domestic players, but increased R&D investments by competitors may intensify competition in the polyether amine sector[60]. Corporate Governance and Compliance - The company held its annual shareholders' meeting on April 23, 2019, approving the reappointment of the auditing firm for the 2019 fiscal year[74]. - There were no significant lawsuits or arbitration matters during the reporting period[74]. - The company has established a corporate governance structure including a shareholders' meeting, board of directors, and supervisory board[150]. - The company has adhered to commitments made by major shareholders regarding stock transfer restrictions following the IPO, ensuring stability in shareholding[68]. Shareholder Information and Stock Management - The company guarantees that any share sales will comply with relevant regulations and will be announced three trading days in advance[69]. - The company reported a lock-up period of 36 months for shares held by actual controllers and their relatives, during which no transfer or management delegation is allowed[70]. - The company will allocate no less than 50% of the cash dividends received from the previous year for stock repurchase, with a maximum limit of 50 million yuan[72]. - The company will ensure that any stock repurchase will be conducted in accordance with legal regulations and company bylaws[72].

Financial Performance - Operating income rose by 49.12% to CNY 138,408,013.23 year-on-year[6] - Net profit attributable to shareholders decreased by 27.58% to CNY 5,635,001.67 compared to the same period last year[6] - Basic and diluted earnings per share both decreased by 20.00% to CNY 0.08[6] - The company's operating revenue for Q1 2019 reached ¥138,408,013.23, representing a 49.12% increase compared to ¥92,815,173.26 in the previous period[12] - The net profit for Q1 2019 was CNY 7,356,886.89, a decrease of 13.7% from CNY 8,520,646.42 in Q1 2018[20] - The operating profit for Q1 2019 was CNY 8,431,753.50, down from CNY 10,026,989.76 in the same period last year, indicating a decline of 15.9%[19] - The basic earnings per share for Q1 2019 were CNY 0.08, down from CNY 0.10 in Q1 2018[20] Cash Flow and Liquidity - Cash flow from operating activities improved significantly, with a net cash inflow of CNY 13,399,533.86, a 259.98% increase year-on-year[6] - The net cash flow from operating activities improved significantly to ¥13,399,533.86, a 259.98% increase from a negative cash flow of ¥8,375,840.46 in the previous period[13] - The company reported a net cash flow from operating activities of CNY 13,399,533.86, a significant improvement from a negative cash flow of CNY -8,375,840.46 in Q1 2018[23] - Cash and cash equivalents at the end of Q1 2019 totaled CNY 127,558,714.20, compared to CNY 141,026,374.31 at the end of Q1 2018[23] - The company’s cash and cash equivalents increased to ¥135,853,714.20 from ¥109,002,831.55, reflecting better liquidity management[15] Assets and Liabilities - Total assets increased by 0.67% to CNY 679,965,605.76 compared to the end of the previous year[6] - The total assets as of March 31, 2019, were ¥679,965,605.76, slightly up from ¥675,438,935.33 at the end of 2018[16] - The company’s total liabilities decreased to ¥153,783,276.79 from ¥156,504,156.75, indicating improved financial stability[16] - Current liabilities totaled $152,958,599.16, primarily driven by accounts payable and notes payable of $145,498,260.90[26] - Total liabilities reached $156,504,156.75, with non-current liabilities comprising $3,545,557.59[26] - Shareholders' equity stood at $518,934,778.58, including retained earnings of $164,316,458.29[27] Shareholder Information - The total number of shareholders reached 13,838 by the end of the reporting period[10] - The largest shareholder, Zhu Xuejun, holds 28.03% of the shares, with 24,300,000 shares pledged[11] Government Subsidies and Other Income - The company received government subsidies amounting to CNY 1,499,838.80 during the reporting period[7] - The company experienced a 146.32% increase in other income, amounting to ¥1,499,838.80, driven by increased government subsidies[13] Operating Costs and Expenses - Operating costs increased by 65.28% to ¥119,200,616.02 from ¥72,121,662.71, primarily due to increased sales volume and depreciation from new production facilities[12] - Financial expenses decreased by 76.85% to ¥547,241.80 from ¥2,364,199.84, reflecting reduced foreign exchange losses compared to the previous year[13] - Research and development expenses for Q1 2019 were CNY 3,418,245.22, an increase from CNY 2,829,988.31 in Q1 2018, reflecting a growth of 20.8%[19] Non-Recurring Items - The company reported a non-recurring profit of CNY 1,721,885.22 after tax[9] - The company received CNY 76,000,000.00 from investment recoveries in Q1 2019, compared to CNY 70,000,000.00 in Q1 2018[23] Financial Standards - The company implemented new financial instrument standards effective January 1, 2019, impacting the classification of certain financial products[28]

Financial Performance - In 2018, the company achieved a net profit of ¥33,424,540.29, with a distributable profit of ¥30,082,086.26 after deducting the statutory surplus reserve[4]. - The company's operating revenue for 2018 was CNY 422,445,453.38, an increase of 45.24% compared to the previous year[22]. - The net profit attributable to shareholders decreased by 33.17% to CNY 33,424,540.29, primarily due to rising raw material costs and increased export and transportation expenses[22]. - Basic earnings per share fell by 46.58% to CNY 0.39, attributed to lower net profit and an increase in the number of shares outstanding[23]. - The weighted average return on equity decreased by 9.27 percentage points to 6.47%[23]. - The company reported a net cash flow from operating activities of CNY 39,895,200.52, down 31.80% from the previous year[22]. - The total assets at the end of 2018 were CNY 675,438,935.33, reflecting a 2.04% increase from the previous year[22]. - The gross profit margin decreased by 11.76 percentage points to 18.29% due to rising raw material prices outpacing product sales price increases[61]. Dividend Policy - The company plans to distribute a cash dividend of ¥2.00 per 10 shares, totaling ¥17,340,000.00 (including tax) to shareholders[4]. - A cash dividend of ¥2.00 per 10 shares will be distributed, totaling ¥17,340,000.00 (including tax), which represents 51.88% of the net profit attributable to ordinary shareholders[147][148]. - The company prioritizes cash dividends, aiming for a minimum cash distribution of 20% of the distributable profit each year[141]. - The profit distribution policy emphasizes sustainability and stability, with a focus on reasonable returns for investors[140]. - The company will consider industry characteristics and development stages when formulating differentiated cash dividend policies[140]. - The profit distribution conditions include having positive distributable profits and no major investment plans in the next twelve months[135][136]. - The company aims to maintain a cash dividend ratio of at least 80% for mature stages without major capital expenditures[140]. Governance and Compliance - The company has established a strong governance structure with a board of directors and supervisory board ensuring accountability and transparency[7]. - The company has received a standard unqualified audit report from its accounting firm, indicating the accuracy and completeness of its financial statements[7]. - The company has engaged Deloitte Touche Tohmatsu CPA Ltd. for continuous supervision and auditing services, ensuring ongoing compliance and oversight[19]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[6]. Market and Product Development - The company is focused on expanding its market presence and developing new products, particularly in the field of high transparency materials and specialty chemicals[10]. - The company specializes in producing various chemical new materials, including polyether amines and optical-grade polymer materials[31]. - The company has established long-term partnerships with well-known enterprises in target markets such as wind power and marine oil, leveraging product quality and service advantages to capture market share[36]. - The company actively expands its international market presence while accelerating new product development to enhance sales growth[36]. - The company invests annually in R&D to improve product quality, energy efficiency, and production safety, focusing on high-value new products with significant market potential[40]. Risks and Challenges - The company has detailed potential industry and operational risks in the report, emphasizing the importance of risk awareness for investors[6]. - The company faces risks from significant fluctuations in raw material prices, which could impact gross margins and profitability[124]. - The company anticipates increased production costs due to stricter environmental regulations, which could affect overall performance[127]. - The implementation of new fixed asset projects will lead to increased depreciation costs, posing a risk to profitability if the projects do not yield expected benefits[131]. Shareholder Information - The total number of ordinary shares increased to 86,700,000, with 65,000,000 being restricted shares and 21,700,000 being unrestricted shares[190]. - As of December 31, 2018, restricted shares accounted for 53.02% of total shares, while unrestricted shares made up 46.98%[192]. - The largest shareholder, Zhu Xuejun, holds 24,300,000 shares, representing 28.03% of the total shares, with 4,920,000 shares pledged[196]. - The company does not have a controlling shareholder situation[200]. - The top ten unrestricted shareholders hold a total of 60,000,000 shares, all of which are common stock[197]. Social Responsibility - The company actively participates in charitable activities, donating funds to local charities and supporting education initiatives[179]. - The company emphasizes the protection of shareholder rights and maintains open communication with investors[178]. - The company promotes a harmonious labor relationship and provides welfare improvements for employees[178]. - The company has established a strong reputation and credibility through its commitment to social responsibility[178].

Financial Performance - Operating revenue for the year-to-date reached CNY 302,052,397.06, a 42.98% increase year-on-year[7] - Net profit attributable to shareholders decreased by 14.33% to CNY 30,027,653.40 compared to the same period last year[7] - Basic and diluted earnings per share fell by 40.32% to CNY 0.37[8] - The net profit for the first three quarters was CNY 31,861,355.77, down 21.5% from CNY 40,622,444.52 in the previous year[23] - The company's operating revenue for the first three quarters reached CNY 302,052,397.06, a 43% increase compared to CNY 211,252,727.67 in the same period last year[22] - The company reported a gross profit margin of approximately 20.5% for the first three quarters, down from 31.5% in the previous year[22] Cash Flow - Cash flow from operating activities decreased by 38.61% to CNY 28,638,000.40 year-to-date[7] - The company reported a net cash flow from operating activities of CNY 28,638,000.40, down from CNY 46,651,943.85 in the previous year[7] - Operating cash inflow for the year-to-date period reached ¥322.92 million, a significant increase from ¥200.07 million in the previous year, representing a 61.2% growth[26] - Net cash flow from operating activities decreased to ¥28.64 million, down 38.7% from ¥46.65 million year-over-year[26] - The net increase in cash and cash equivalents was negative at ¥122.31 million, compared to a negative ¥7.28 million in the same period last year[27] Assets and Liabilities - Total assets increased by 3.42% to CNY 684,583,935.81 compared to the end of the previous year[7] - The total liabilities rose to CNY 167,212,341.75, compared to CNY 141,726,515.55 at the beginning of the year, indicating an 18% increase[20] - The net assets attributable to shareholders decreased by 0.54% to CNY 517,371,594.06 compared to the end of the previous year[7] - Cash and cash equivalents decreased by 59.36% to 85,177,621.76 RMB, primarily due to unexpired financial products[13] - The company's cash and cash equivalents decreased to CNY 85,177,621.76 from CNY 209,615,006.68 at the beginning of the year, representing a decline of 59.3%[18] Shareholder Information - Total number of shareholders reached 16,054 by the end of the reporting period[12] - The top shareholder, Zhu Xuejun, holds 24,300,000 shares, representing 28.03% of total shares, with 3,620,000 shares pledged[12] Operating Costs and Expenses - Operating costs rose to 240,404,736.43 RMB, reflecting a 66.17% increase due to higher sales volume and raw material prices[14] - Research and development expenses for the first three quarters were CNY 8,665,374.29, up from CNY 7,312,648.74 in the same period last year, reflecting a 18.5% increase[22] Investment Activities - Cash inflow from investment activities totaled ¥261.54 million, compared to only ¥0.58 million in the same period last year[26] - Net cash flow from investment activities was negative at ¥119.84 million, worsening from a negative ¥45.47 million in the previous year[26] - The company received ¥260 million from investment recoveries, a substantial increase from just ¥1,600 in the previous year[26] - The company paid ¥61.38 million for the acquisition of fixed assets, up from ¥46.05 million last year, reflecting a 33.4% increase[26] Other Financial Metrics - The weighted average return on equity decreased by 8.5 percentage points to 6.12%[7] - The company anticipates potential significant changes in cumulative net profit compared to the previous year, but no specific warnings were issued[15] - The ending balance of cash and cash equivalents stood at ¥52.45 million, down from ¥57.11 million year-over-year[27] - The impact of exchange rate fluctuations on cash and cash equivalents was positive at ¥3.58 million, contrasting with a negative impact of ¥0.71 million in the previous year[27]

Financial Performance - The company's operating revenue for the first half of 2018 was RMB 193,093,492.35, representing a 44.62% increase compared to RMB 133,514,924.44 in the same period last year[20]. - The net profit attributable to shareholders of the listed company decreased by 6.86% to RMB 22,887,279.68 from RMB 24,574,249.26 in the previous year[20]. - The net cash flow from operating activities increased by 39.97% to RMB 27,863,263.66, compared to RMB 19,906,548.26 in the same period last year[20]. - The total assets at the end of the reporting period were RMB 670,432,534.88, a 1.29% increase from RMB 661,916,753.84 at the end of the previous year[20]. - The basic earnings per share decreased by 31.58% to RMB 0.26 from RMB 0.38 in the same period last year[21]. - The weighted average return on net assets decreased by 4.77 percentage points to 4.35% from 9.12% in the previous year[21]. - The net profit after deducting non-recurring gains and losses was RMB 21,737,104.93, down 6.58% from RMB 23,268,180.29 in the same period last year[20]. Revenue Drivers - The increase in operating revenue was attributed to higher sales volume and prices of polyether amines and optical materials[21]. - The sales volume of polyether amine and optical materials increased, contributing to the rise in operating revenue[57]. Cash Flow and Assets - The net cash flow from operating activities increased compared to the same period last year due to increased sales revenue and timely collection of payments[22]. - The company's fixed assets increased by 35.27% to RMB 156,991,790.51, attributed to the completion of construction for investment projects[61]. - The accounts receivable increased by 60.71% to RMB 40,143,446.44, reflecting a significant growth in sales revenue[61]. Investment and R&D - The company continues to invest in R&D to improve product quality, energy efficiency, and production efficiency, with a focus on new product development[37]. - The company has established a postdoctoral workstation and a graduate student workstation to foster talent collaboration with universities, enhancing its technological foundation[37]. - The company has received 11 authorized invention patents as of June 2018, reflecting its commitment to innovation[42]. Market Position and Strategy - The company focuses on producing various chemical new materials, such as polyether amines and optical-grade polymer materials, and has become a leading enterprise in this field in China[29]. - The company actively expands into international markets while accelerating new product development to enhance sales growth[34]. - The company has established long-term partnerships with well-known enterprises, leveraging product quality, pricing, and service to capture market share[34]. Risks and Challenges - The company faces significant risks from fluctuations in the prices of key raw materials, including propylene oxide and propylene glycol, which could impact gross margins and profitability[65]. - There is a risk that the company's new product development may not meet market needs, potentially delaying product launches and affecting profitability[65]. - The company acknowledges the potential for stricter environmental regulations that could increase operational costs and impact performance[68]. Shareholder and Governance - The company has committed to not transferring or managing its shares for a period of 36 months post-IPO, ensuring stability in shareholding[75]. - The management team is limited to transferring no more than 15% of their total shares annually during their tenure, ensuring long-term commitment[76]. - The company appointed Deloitte as the auditing firm for the 2018 fiscal year, approved during the annual shareholders' meeting on May 8, 2018[81]. Environmental Management - The company has implemented strict environmental management practices, ensuring compliance with environmental laws and regulations[84]. - The company has established an emergency response plan for environmental incidents, with a registration number for the plan[86]. - Wastewater from the facility is treated before being discharged into the municipal sewage system[89]. Accounting and Financial Reporting - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, reflecting the company's financial position and operating results accurately[137]. - The company has confirmed its ability to continue as a going concern for at least 12 months from the reporting date[135]. - Revenue from sales is recognized when the significant risks and rewards of ownership have transferred to the buyer, and the amount can be reliably measured[197].