Financial Performance - The company's operating revenue for the first half of 2021 was ¥722,917,143.05, representing a 57.29% increase compared to ¥459,595,110.15 in the same period last year[19] - The net profit attributable to shareholders for the first half of 2021 was ¥43,664,380.26, a 95.51% increase from ¥22,333,957.86 in the previous year[19] - The basic earnings per share for the first half of 2021 was ¥0.5982, up 96.45% from ¥0.3045 in the same period last year[20] - The diluted earnings per share for the first half of 2021 was ¥0.5900, an increase of 93.76% compared to ¥0.3045 in the same period last year[20] - The company reported a net profit after deducting non-recurring gains and losses of ¥43,366,325.38, which is a 103.71% increase from ¥21,288,524.27 in the same period last year[19] - Revenue increased by 57.29% year-on-year, primarily due to the rise in unit product prices and expanded sales volume of plasticizer products following the market rebound post-pandemic[6] - Net profit attributable to shareholders increased by 95.51% year-on-year, driven by revenue growth and improved product gross margins[6] - Basic earnings per share increased by 96.45% year-on-year, attributed to the growth in net profit attributable to shareholders[6] - The overall gross profit margin improved to 19.94%, an increase of 5.42 percentage points from 14.52% in the same period of 2020[43] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,070,920,807.69, a 1.78% increase from ¥2,034,707,033.21 at the end of the previous year[19] - The company's net assets attributable to shareholders at the end of the reporting period were ¥855,157,153.38, reflecting a 3.35% increase from ¥827,413,698.22 at the end of the previous year[19] - The company's total assets as of June 30, 2021, amounted to ¥1,637,820,330.58, an increase from ¥1,578,272,850.53 at the end of 2020[133] - Total liabilities stood at ¥1,183,215,791.69, slightly up from ¥1,169,950,392.36, indicating an increase of approximately 1.1%[130] - The company's equity attributable to shareholders rose to ¥855,157,153.38 from ¥827,413,698.22, reflecting an increase of about 3.3%[130] Cash Flow - The net cash flow from operating activities for the first half of 2021 improved to -¥4,388,864.15, a 93.48% improvement from -¥67,302,722.21 in the same period last year[19] - The net cash flow from operating activities improved significantly, with a year-on-year increase of 93.48%, attributed to the growth in net profit attributable to shareholders[48] - The company’s cash and cash equivalents decreased by 46.72% due to investments in construction projects and inventory purchases[51] - The company reported a net cash flow from operating activities of RMB -4,388,864.15 for the first half of 2021, an improvement from RMB -67,302,722.21 in the first half of 2020[141] Research and Development - Research and development expenses rose by 76.67% to CNY 28,555,019.31, reflecting ongoing investment in new products and technologies[48] - The company has invested CNY 2,855.50 million in R&D for 15 new products, including a new type of epoxy fatty acid methyl ester, which has been recognized as a provincial-level industrial new product[46] - Research and development expenses for the first half of 2021 were ¥28,555,019.31, up from ¥16,162,661.89 in the same period of 2020, showing an increase of 76.6%[134] Environmental and Social Responsibility - The company strictly adheres to pollution control measures, including a complete wastewater collection and treatment system, ensuring compliance with environmental standards[71] - The company has established a robust system for handling hazardous waste generated during production processes, ensuring proper disposal by qualified agencies[71] - The company reported a total wastewater discharge of 36,960 tons in the first half of 2020, which increased to 41,490 tons in the first half of 2021, with key pollutants being within the regulatory limits[72] - The company donated 100,000 yuan for the construction of a primary school in January 2021, contributing to rural revitalization efforts[80] Corporate Governance - The company held a total of 4 shareholder meetings during the reporting period, including 1 annual meeting and 3 temporary meetings, with no proposals being rejected or changed[66] - The company experienced changes in its board, with the resignation of the financial director and an independent director[67] - The company has not disclosed any progress or changes regarding employee stock ownership plans or other incentive measures[70] Future Outlook and Strategy - The company plans to expand its market presence and invest in new product development to drive future revenue growth[162] - The company is considering potential mergers and acquisitions to strengthen its market position and diversify its product offerings[156] - The future outlook remains cautious, with guidance suggesting a potential revenue growth of 5-10% in the upcoming quarters[156] Financial Compliance and Audit - The company received a non-standard audit opinion for the 2020 annual report, which has since been resolved as confirmed by the audit firm on June 4, 2021[92] - The company incurred a penalty of 1 million RMB for non-compliance, with the actual controller also fined 1 million RMB, and two directors fined 500,000 RMB each[96] - The company has completed the required rectifications as mandated by the regulatory authority following the penalties imposed[93] Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders was 8,339[108] - The largest shareholder, Tongxiang Shunchang Investment Co., Ltd., held 16,700,000 shares, representing 22.76% of the total shares[110] - The total number of shares held by the top ten shareholders was 29,835,498, with no repurchase accounts among them[112] Convertible Bonds - The company issued convertible bonds totaling 185 million RMB, with a maturity of 6 years and an annual interest payment structure[125] - The total amount of convertible bonds converted during the reporting period was 63,000 RMB, resulting in 1,398 shares being issued[121] - The remaining amount of convertible bonds that have not been converted is 184,607,000 RMB, which constitutes 99.79% of the total issued convertible bonds[121]

Financial Performance - In 2020, the company's operating revenue was CNY 1,230,146,035, representing a year-on-year increase of 14.39% compared to CNY 1,075,440,212 in 2019[21]. - The net profit attributable to shareholders of the listed company was CNY 37,165,027, a decrease of 40.23% from CNY 62,183,107 in the previous year[21]. - The net cash flow from operating activities was negative CNY 72,254,309, a decline of 154.1% compared to a positive cash flow of CNY 133,350,098 in 2019[21]. - The total assets at the end of 2020 were CNY 2,034,707,033, an increase of 30.17% from CNY 1,563,158,135 at the end of 2019[21]. - The net assets attributable to shareholders of the listed company increased to CNY 827,413,698, reflecting a growth of 6.14% from CNY 779,574,163 in the previous year[21]. - Basic earnings per share decreased by 40.24% to CNY 0.5066, primarily due to the decline in net profit from subsidiary Dongjiang Energy affected by the pandemic[22]. - The weighted average return on equity fell by 3.32 percentage points to 4.73%, attributed to the decrease in net profit[23]. - Total revenue for Q4 2020 was CNY 384,480,596.71, with a net profit attributable to shareholders of CNY 4,538,529.84[26]. Dividend Policy - The company plans to distribute a cash dividend of CNY 1.52 per 10 shares to all shareholders, subject to the total share capital on the dividend distribution date[5]. - The company’s cash dividend policy mandates a minimum cash dividend of 20% of the distributable profit for the year when conditions allow[145]. - In 2020, the company distributed a cash dividend of 1.52 RMB per 10 shares, with a total cash dividend amounting to 11,150,304.43 RMB, representing 30.00% of the net profit attributable to ordinary shareholders[150]. - The company’s profit distribution policy emphasizes reasonable returns to investors, maintaining continuity and stability while considering sustainable development[145]. - The company’s cash dividend distribution in 2019 was 2.55 RMB per 10 shares, totaling 18,705,530.87 RMB, which accounted for 30.08% of the net profit attributable to ordinary shareholders[150]. Market and Industry Trends - The company has become the largest and most comprehensive producer of plant oil-based environmentally friendly plasticizers in China[32]. - The PVC market is expected to exceed 30 million tons during the 14th Five-Year Plan period, indicating strong growth potential[34]. - The demand for disposable PVC medical supplies has surged due to the pandemic, indicating significant growth potential in this sector[36]. - The functional polymer cable industry is expected to benefit from the Belt and Road Initiative, further driving industry growth[37]. - The biodiesel industry in China is expected to benefit from the "carbon neutrality" initiative introduced in 2020, enhancing its role in renewable energy[42]. Research and Development - The company has been recognized for its technological advancements, with 15 new products and processes listed as provincial scientific and technological achievements in 2020[62]. - The R&D expenses grew by 48.07% to 42,671,168.16 RMB, focusing on 15 new products and technologies[74]. - The company introduced 15 new products and processes in 2020, with significant contributions to the development of the biodiesel industry standards[91]. - The company is collaborating with the Dalian Institute of Chemical Physics to develop a high-end benzene-free plasticizer, which is currently in the optimization and debugging phase[131]. Environmental Initiatives - The company invested 5,428,900 RMB in environmental protection initiatives during 2020[73]. - The company is committed to achieving zero emissions and pollution through green manufacturing practices and waste recycling[139]. - The company has a wastewater treatment facility with a processing capacity of 400 tons per day, operational since January 2007[183]. - The company operates two air pollution control towers with capacities of 12,000 m³/h and 8,500 m³/h, both in normal operation since November 2010[183]. - The company has established emergency response plans for environmental pollution incidents and conducts regular drills to enhance response capabilities[186]. Risk Management - The company has acknowledged potential risks in its operations and has detailed these in the report[7]. - The company has identified risks related to the volatility of raw material prices, particularly for soybean oil, waste oil, and octanol, which significantly impact production costs[141]. - The company faces competition from traditional plasticizer manufacturers due to the slow adoption of environmental standards in the domestic market[140]. - The company faces a risk of significant net profit decline in its biomass energy business if there are major adjustments to the national corporate income tax preferential policies[142]. Corporate Governance - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties[7]. - The company has not violated any decision-making procedures regarding external guarantees[7]. - The audit report issued by Da Xin Certified Public Accountants included a reserved opinion, and the board has provided detailed explanations regarding this matter[8]. - The company has committed to reducing and regulating related party transactions to ensure fair dealings[156]. Shareholder Engagement - The company is committed to engaging with shareholders, especially minority shareholders, to gather their opinions and address their concerns regarding cash dividend proposals[148]. - The company will ensure that any share reduction price will not be lower than 80% of the issue price during the two-year lock-up period[153]. - The company will disclose information accurately and timely in accordance with stock exchange rules[154]. Financial Position - Cash and cash equivalents increased by 38.33% to ¥297,249,087.89, primarily due to an increase in bank deposits[94]. - Accounts receivable increased by 67.74% to ¥74,325,754.02, mainly due to an increase in bank electronic acceptance bills from sales collections[94]. - Fixed assets grew by 50.01% to ¥542,462,248.97, mainly due to the completion of several construction projects[94]. - Short-term borrowings increased by 105.85% to ¥654,534,460.32, primarily due to an increase in bank loans[95]. - Long-term borrowings increased by 184.73% to ¥213,548,494.13, mainly due to project loans[95].

Financial Performance - Operating revenue for the period was CNY 318,726,377.14, representing a growth of 32.53% year-on-year[6]. - Net profit attributable to shareholders of the listed company was CNY 20,462,991.44, a significant increase of 196.61% compared to the same period last year[6]. - Basic earnings per share rose to CNY 0.2862, reflecting a growth of 197.51% year-on-year[6]. - The company reported a significant increase in net profit, driven by improved operational efficiency and revenue growth strategies[6]. - Operating profit for Q1 2021 was ¥23,331,437.17, significantly up from ¥4,175,861.69 in Q1 2020, reflecting a growth of 469.5%[25]. - Net profit attributable to shareholders of the parent company for Q1 2021 was ¥20,997,058.17, compared to ¥7,055,976.17 in Q1 2020, marking an increase of 197.5%[25]. - The net profit for Q1 2021 was ¥24,788,721.63, compared to a net loss of ¥9,303,739.83 in Q1 2020, indicating a significant turnaround[28]. - Total comprehensive income for Q1 2021 was ¥24,788,721.63, compared to a total comprehensive loss of ¥9,303,739.83 in Q1 2020[28]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 2,050,027,764.72, an increase of 0.75% compared to the end of the previous year[6]. - The total assets of the company as of March 31, 2021, were CNY 2,050,027,764.72, compared to CNY 2,034,707,033.21 at the end of the previous year[17]. - The company’s total liabilities amounted to CNY 1,171,263,840.43, slightly down from CNY 1,169,950,392.36 at the end of the previous year[18]. - Total liabilities as of March 31, 2021, were ¥895,616,337.36, compared to ¥861,804,942.59 at the end of 2020, indicating a rise of 3.9%[22]. - The company’s total liabilities were reported at ¥1,169,950,392.36 as of Q1 2021, consistent with the previous year, suggesting no significant changes in debt levels[36]. Cash Flow - The net cash flow from operating activities improved to CNY -10,442,399.71, showing an 84.25% increase compared to the previous year[6]. - The company reported a cash flow from operating activities of -CNY 10,442,399.71, an improvement of 84.25% compared to -CNY 66,315,588.00 in the previous year[14]. - The net cash flow from operating activities for Q1 2021 was -¥10,442,399.71, an improvement from -¥66,315,588.00 in Q1 2020[31]. - The company received cash from operating activities totaling ¥301,615,862.07 in Q1 2021, compared to ¥248,882,668.49 in Q1 2020[31]. - Cash outflow from financing activities in Q1 2021 was -¥21,661,430.51, a decrease from a net inflow of ¥128,970,341.41 in Q1 2020[31]. - The company experienced a net cash outflow from investing activities of ¥54,062,909.84 in Q1 2021, compared to a net outflow of ¥9,075,587.81 in Q1 2020, reflecting an increase in investment expenditures[33]. Shareholder Information - The total number of shareholders reached 9,026 at the end of the reporting period[10]. - The largest shareholder, Tongxiang Shunchang Investment Co., Ltd., held 22.77% of the shares, totaling 16,700,000 shares[11]. Research and Development - Research and development expenses increased by 35.88% to CNY 12,574,817.18, reflecting increased investment in R&D projects[13]. - The company reported a significant increase in research and development expenses, which rose to ¥12,574,817.18 in Q1 2021 from ¥9,254,325.25 in Q1 2020, reflecting a growth of 36.5%[24]. - Research and development expenses increased to ¥10,105,635.59 in Q1 2021 from ¥8,571,079.46 in Q1 2020, reflecting a focus on innovation[27]. Financial Standards and Practices - The company has adopted new leasing standards starting in 2021, which may impact future financial reporting and cash flow management[37]. - The company has implemented a new leasing standard starting in 2021, affecting financial reporting[42].

Financial Performance - Operating revenue for the first nine months rose by 17.51% to CNY 994,387,099.58 compared to the same period last year[8] - Net profit attributable to shareholders decreased by 29.93% to CNY 28,626,882.36 for the first nine months[8] - Basic earnings per share decreased by 29.89% to CNY 0.4320[9] - Total operating revenue for Q3 2020 reached ¥415,305,008.91, a 21.05% increase from ¥343,120,076.36 in Q3 2019[28] - Net profit for Q3 2020 was ¥11,001,291.97, a decrease of 22.67% compared to ¥14,254,053.26 in Q3 2019[30] - Earnings per share for Q3 2020 was ¥0.1369, down from ¥0.1840 in Q3 2019[31] - The company reported a total profit of ¥13,106,582.05 for Q3 2020, down from ¥14,046,673.04 in Q3 2019, a decrease of 6.69%[30] Assets and Liabilities - Total assets increased by 26.47% to CNY 1,977,180,946.53 compared to the end of the previous year[8] - Current assets totaled CNY 932,411,063.78, up 35.5% from CNY 687,592,528.88 at the end of 2019[20] - Total liabilities amounted to CNY 1,147,313,700.97, up 52.8% from CNY 750,782,392.51 at the end of 2019[22] - Total liabilities increased to ¥882,755,786.54 in Q3 2020, compared to ¥633,223,057.51 in Q3 2019, reflecting a 39.29% rise[26] - Total assets as of the end of Q3 2020 stood at CNY 1,563.35 million, unchanged from the previous year[43] - The total liabilities as of the end of Q3 2020 were CNY 750.78 million, consistent with the previous year[44] Cash Flow - Cash flow from operating activities showed a significant decline of 156.37%, resulting in a net cash outflow of CNY -51,162,982.84[8] - Cash inflow from operating activities for the first three quarters of 2020 was CNY 781.09 million, a decrease of 9.8% compared to CNY 865.86 million in the same period of 2019[40] - Net cash flow from operating activities for the first three quarters of 2020 was CNY 36.49 million, down 67.3% from CNY 111.55 million in 2019[40] - Cash inflow from financing activities increased significantly to CNY 584.90 million in 2020 from CNY 220.24 million in 2019, marking a 165.5% increase[40] - The company reported a net cash outflow from investing activities of CNY 19.59 million in the first three quarters of 2020, an improvement from a net outflow of CNY 39.75 million in 2019[40] Shareholder Information - The company had a total of 8,955 shareholders at the end of the reporting period[12] - The largest shareholder, Tongxiang Shunchang Investment Co., Ltd., holds 23.11% of the shares[12] Research and Development - R&D expenses rose by 41.82% to RMB 27,794,825.89 driven by increased investment in R&D projects[15] - Research and development expenses for Q3 2020 were ¥11,632,164.00, an increase of 10.77% from ¥10,501,723.77 in Q3 2019[29] - R&D expenses increased to ¥10.56 million in Q3 2020, up from ¥9.18 million in Q3 2019, reflecting a focus on innovation[33] Inventory and Accounts Receivable - Accounts receivable increased by 58.09% to RMB 57,994,570.36 reflecting expanded sales and uncollected payments[15] - Inventory grew by 43.55% to RMB 435,486,712.61 as a result of business expansion and increased stockpiling[15] - The company reported a significant increase in accounts receivable, which rose to CNY 57,994,570.36, up 58.5% from CNY 36,684,783.65 at the end of 2019[20] Future Plans and Projects - The company’s subsidiary Mingzhou Environmental's chlorinated plasticizer project is expected to achieve an annual production capacity of 60,000 tons by the end of 2020[16] - The subsidiary Jiaao Dingxin's project is facing technical challenges, requiring additional reactor installations to improve conversion rates[17] - The company completed the project acceptance for the "Annual Production of 100,000 Tons of Industrial Mixed Oil Technology Renovation Project" in September 2020[18] - The company is utilizing its own funds and bank loans to stabilize the "Annual Production of 100,000 Tons of Biodiesel Project" currently in the preparatory stage[18] - The company plans to implement new leasing standards starting in 2021, following the initial execution of new revenue standards in 2020[44]

Financial Performance - The company's operating revenue for the first half of 2020 was approximately RMB 579.08 million, representing a 15.11% increase compared to RMB 503.06 million in the same period last year[19]. - The net profit attributable to shareholders of the listed company decreased by 31.71% to approximately RMB 21.65 million, down from RMB 31.70 million in the previous year[19]. - Basic earnings per share decreased by 31.72% to RMB 0.2951, down from RMB 0.4322 in the same period last year[20]. - The weighted average return on net assets decreased by 1.40 percentage points to 2.76% from 4.16% in the previous year[20]. - The net profit attributable to shareholders decreased by 31.71% to 21.65 million yuan, while the net profit excluding non-recurring gains and losses fell by 22.50% to 20.60 million yuan[44]. - The net profit for the first half of 2020 was ¥22,858,473.23, down from ¥33,041,066.37 in the first half of 2019, indicating a decline of about 30.7%[119]. - The total comprehensive income for the first half of 2020 was significantly lower than the previous year, indicating challenges in profitability[146]. Cash Flow and Liquidity - The net cash flow from operating activities turned negative at approximately RMB -67.91 million, a decline of 204.84% compared to RMB 64.77 million in the same period last year[19]. - Cash and cash equivalents decreased by 38.82% year-over-year, totaling approximately ¥129.91 million, primarily due to increased procurement expenditures[51]. - The company reported a cash flow from operating activities of -¥67.91 million for the first half of 2020, a decrease from a positive cash flow of ¥64.77 million in the first half of 2019[124]. - The cash inflow from operating activities totaled ¥656.24 million in the first half of 2020, compared to ¥544.00 million in the same period of 2019, showing an increase in cash receipts[123]. - The net increase in cash and cash equivalents for H1 2020 was ¥32,415,416.47, compared to only ¥802,964.61 in H1 2019, indicating a substantial improvement[127]. Research and Development - Research and development expenses increased by 77.68% year-on-year to 16.16 million yuan, focusing on new products such as modified epoxy glycerol ester plasticizers and biodegradable lubricating oil base oils[44]. - Research and development expenses for the first half of 2020 were ¥16,162,661.89, significantly higher than ¥9,096,340.90 in the same period of 2019, showing an increase of approximately 77.5%[117]. - The company plans to enhance its research and development efforts to drive innovation in new technologies[139]. Market and Product Development - The company has developed a strong market sales network with approximately 700 to 800 trading customers across major economic regions in China[34]. - The company has become a well-known enterprise in the domestic market for environmentally friendly plasticizers, with independent intellectual property rights and large-scale production capabilities[32]. - The company’s core business includes the research, production, and sales of environmentally friendly plasticizers, stabilizers, and biomass energy[25]. - The company is considering strategic acquisitions to bolster its product offerings, with a target of acquiring two startups within the next six months[64]. - Market expansion plans include entering three new international markets by Q3 2020, which is anticipated to increase market share by 10%[65]. Environmental Compliance - The company strictly adheres to pollution control measures, including a complete wastewater collection and treatment system, ensuring compliance with discharge standards[84]. - In the first half of 2020, the total wastewater discharge was 36,960 tons, with key pollutants such as COD at 500 mg/L, ammonia nitrogen at 35 mg/L, and total phosphorus at 8 mg/L, all within standard limits[86]. - The company has developed emergency response plans for environmental pollution incidents and conducts regular drills to enhance response capabilities[92]. Shareholder and Corporate Governance - The company has not proposed any profit distribution plan or capital reserve transfer to increase share capital for the reporting period[5]. - The company will ensure that any share reduction will be announced three trading days in advance and comply with relevant legal requirements[63]. - The company is committed to compensating investors for losses incurred due to any false statements or omissions in its prospectus[61]. - The company held one annual general meeting during the reporting period without any rejected proposals or changes to previous resolutions[59]. Strategic Outlook - The company has set a future outlook with a focus on market expansion and new product development strategies[139]. - The company plans to focus on enhancing its capital structure and improving operational efficiency in the upcoming quarters[146]. - The company aims to explore potential mergers and acquisitions to accelerate growth and market presence[139].

Financial Performance - Operating revenue rose by 58.56% to CNY 329,795,818.72 year-on-year[5] - Net profit attributable to shareholders increased by 29.11% to CNY 6,309,602.61 compared to the same period last year[5] - The company reported a net profit of CNY 6,466,647.27 for the period, up 24.88% year-on-year[5] - Basic earnings per share increased by 24.93% to CNY 0.0882[5] - Operating profit for Q1 2020 was CNY 3,586,532.79, down 20.1% from CNY 4,489,130.42 in Q1 2019[27] - Net profit for Q1 2020 was CNY 6,630,555.11, an increase of 17.9% compared to CNY 5,622,270.35 in Q1 2019[27] - The company’s total comprehensive income for Q1 2020 was CNY 6,630,555.11, compared to CNY 5,622,270.35 in Q1 2019[27] Assets and Liabilities - Total assets increased by 9.96% to CNY 1,719,093,596.33 compared to the end of the previous year[5] - Current assets totaled ¥809,198,079.77 as of March 31, 2020, an increase of 17.7% from ¥687,592,528.88 on December 31, 2019[20] - Total liabilities reached ¥899,888,714.06, reflecting an increase of 19.8% from ¥750,782,392.51[21] - Total assets amounted to ¥1,563,353,342.24, with non-current assets totaling ¥875,760,813.36[36] - Current liabilities reached ¥490,371,087.07, while total liabilities were ¥750,782,392.51[37] - The company reported a total of ¥395,783,251.44 in undistributed profits, indicating retained earnings[37] Cash Flow - Cash flow from operating activities showed a significant decline of 255.70%, resulting in a net cash outflow of CNY -66,880,734.14[5] - The company reported a net cash outflow from operating activities of CNY -66,880,734.14, a decrease of 255.70% compared to CNY 42,954,028.75 in the previous year, mainly due to increased receivables and procurement expenditures[15] - The net cash flow from operating activities for Q1 2020 was -¥66.88 million, compared to a positive cash flow of ¥42.95 million in Q1 2019, indicating a decline in operational efficiency[32] - The company’s cash flow from financing activities increased by 307.97% to CNY 128,970,341.41, primarily due to an increase in borrowed funds[15] - The company reported a total cash inflow from financing activities of ¥254.76 million in Q1 2020, a substantial increase from ¥24.30 million in Q1 2019, reflecting a growth of over 950%[32] - The net cash flow from financing activities was ¥128.97 million in Q1 2020, compared to a negative cash flow of -¥62.02 million in Q1 2019, showing a turnaround in financing operations[34] Shareholder Information - The number of shareholders reached 9,565 by the end of the reporting period[10] - The largest shareholder, Tongxiang Shunchang Investment Co., Ltd., holds 12,880,000 shares, accounting for 17.56% of total shares[10] - The company's equity increased to ¥819,204,882.27, up from ¥812,570,949.73, indicating a slight growth of 0.8%[22] Research and Development - Research and development expenses increased by 139.11% to CNY 9,254,325.25, reflecting the company's efforts to enhance market competitiveness[14] - Research and development expenses increased to CNY 9,254,325.25 in Q1 2020, a 139.5% rise from CNY 3,870,344.51 in Q1 2019[26] Investment and Financing Activities - The company’s investment income showed a 100% improvement, moving from a loss of CNY -8,519.84 to a positive contribution, indicating reduced investment losses[14] - The company has received approval from the China Securities Regulatory Commission for the public issuance of convertible bonds, with a total of 5,111 shares converted by the end of Q1 2020[15] - The company plans to initiate the public offering of A-shares once the impact of the pandemic is assessed, following the approval received in 2019[16] - The company has ongoing investments in fixed assets totaling ¥352,423,322.60, slightly down from ¥361,609,036.61[20] Accounts Receivable and Payable - Accounts receivable increased by 136.46% to CNY 86,743,345.58, attributed to the expansion of business scale and an increase in receivables not yet due for settlement[13] - Accounts receivable rose to ¥86,743,345.58, a significant increase of 136.5% from ¥36,684,783.65[20] - The company reported a decrease in accounts payable to ¥63,151,994.55, down 6.7% from ¥67,431,214.82[21]

Financial Performance - The company's operating revenue for the first half of 2019 was RMB 503,063,547.21, representing a 7.05% increase compared to RMB 469,945,718.99 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was RMB 31,704,203.32, up 10.87% from RMB 28,595,995.48 in the previous year[19]. - The net cash flow from operating activities increased significantly to RMB 64,774,276.73, a 539.92% increase from RMB 10,122,231.35 in the same period last year[19]. - The total assets at the end of the reporting period were RMB 1,496,168,384.6, reflecting a 3.73% increase from RMB 1,442,343,672.6 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company increased to RMB 764,663,965.13, a 2.00% rise from RMB 749,683,103.17 at the end of the previous year[19]. - Basic earnings per share for the first half of 2019 were RMB 0.4322, an increase of 10.85% compared to RMB 0.3899 in the same period last year[20]. - The weighted average return on net assets increased to 4.16%, up from 3.90% in the previous year, reflecting an increase of 0.26 percentage points[20]. - The company reported a decrease in the basic earnings per share after deducting non-recurring gains and losses to RMB 0.3624, down 2.03% from RMB 0.3699 in the previous year[20]. Environmental Focus - The company focuses on producing environmentally friendly plasticizers and stabilizers, with a major application in the biomass energy sector, particularly biodiesel[25][26]. - The biomass energy industry is experiencing rapid growth, driven by increasing demand for renewable resources and stricter environmental regulations[29][30]. - The company utilizes waste oils as raw materials for biomass energy production, enhancing its cost-effectiveness and social benefits[30]. - The company is positioned to benefit from the shift in regulations favoring environmentally friendly products, as traditional plasticizers face declining demand[27]. - The company’s production processes for environmentally friendly plasticizers have established a technological advantage in terms of quality control and raw material formulation[31]. Market and Competitive Position - The company has a competitive edge in the market due to its extensive customer base across various regions, which mitigates operational risks[31]. - The company achieved operating revenue of ¥503,063,547.21, a year-on-year increase of 7.05%[34]. - Sales volume of environmental plasticizers increased by 19.97% to 54,542.4 tons, despite a 7.76% decrease in average price[34]. - Biomass energy products sales reached 43,593.23 tons, a growth of 16.27%, with revenue of ¥196,652,500[35]. - The company faces risks from intensified market competition, particularly from traditional plasticizer manufacturers, which may impact its market position[48]. Financial Management and Shareholder Relations - The company has not disclosed any plans for profit distribution or capital reserve transfer to increase share capital during the reporting period[5]. - The company has committed to repurchase shares if the stock price falls below the audited net asset value per share for 20 consecutive trading days within three years post-IPO[54]. - The company plans to stabilize its stock price through various measures, including share buybacks and increasing holdings by major shareholders and management[54]. - The company will hold a board meeting within 5 days and a shareholder meeting within 25 days if the stock price falls below the previous fiscal year's audited net asset value[54]. - The company is focused on protecting the interests of small investors through proactive measures and compensation strategies[54]. Research and Development - Research and development expenses decreased by 29.07% to ¥9,096,340.90 due to varying investment stages[37]. - The company has allocated 4,263 million RMB for research and development to enhance its technological capabilities[130]. Environmental Compliance and Safety - The company strictly implements the principle of separating sewage and rainwater, with a complete wastewater collection and treatment system in place[79]. - The company operates two air pollution discharge outlets, with total emissions of sulfuric acid mist at 0.047 mg/m³ and formic acid at less than 0.052 mg/m³, both below the standard limits[82]. - The company has established an emergency response plan for environmental pollution incidents, complying with national regulations and conducting regular emergency drills[86]. - The company has adhered to environmental impact assessment procedures for its projects, ensuring compliance with regulations[85]. Financial Instruments and Accounting Policies - The company classifies financial assets into three categories: those measured at amortized cost, those measured at fair value with changes recognized in other comprehensive income, and those measured at fair value with changes recognized in profit or loss[161]. - The company recognizes impairment losses for inventory when the net realizable value is lower than the cost, with provisions made on an individual item basis[173]. - The company adopts the equity method for long-term equity investments that have joint control or significant influence, recognizing investment income and other comprehensive income based on the share of net profit or loss and other comprehensive income of the investee[178]. Corporate Governance - The company appointed Ruihua Certified Public Accountants as the financial audit and internal control audit institution for the year 2019, approved by the shareholders' meeting on March 25, 2019[60]. - There were no major litigation or arbitration matters reported during the reporting period[61]. - The company confirmed that its controlling shareholder and actual controller had no integrity issues, such as failing to fulfill court judgments or significant overdue debts[62].

Financial Performance - In 2017, the company's operating revenue reached RMB 882.58 million, an increase of 74.35% compared to RMB 506.20 million in 2016[20]. - The net profit attributable to shareholders of the listed company was RMB 50.99 million, representing an 18.88% increase from RMB 42.89 million in the previous year[20]. - The net cash flow from operating activities was RMB 155.76 million, a significant increase of 211.11% compared to RMB 50.06 million in 2016[20]. - The total assets of the company at the end of 2017 amounted to RMB 1.33 billion, reflecting a 33.06% increase from RMB 1.00 billion at the end of 2016[21]. - The net assets attributable to shareholders of the listed company were RMB 719.79 million, up 13.57% from RMB 633.78 million in 2016[21]. - The basic earnings per share for 2017 was CNY 0.6951, reflecting an increase of 8.97% compared to CNY 0.6379 in 2016[22]. - The company reported a significant increase in net profit for the fourth quarter, mainly due to non-recurring gains from the debt restructuring of Dongjiang Energy[26]. Dividend Policy - The company plans to distribute a cash dividend of RMB 2.14 per 10 shares, totaling RMB 15.70 million, based on a total share capital of 73.35 million shares[5]. - The company has established a profit distribution policy that mandates a minimum cash dividend of 20% of the distributable profit for the year[124]. - In 2017, the company distributed a cash dividend of 2.14 RMB per 10 shares, amounting to a total of 50,986,324.9 RMB, which represents 30.79% of the net profit attributable to ordinary shareholders[128]. - The cash dividend for 2016 was 2.08 RMB per 10 shares, totaling 42,887,907.1 RMB, which accounted for 35.57% of the net profit attributable to ordinary shareholders[128]. - The company has a policy to prioritize cash dividends when conditions allow, with a minimum of 80% cash distribution during mature stages without major capital expenditures[124]. Market Expansion and Product Development - The company focuses on producing environmentally friendly plasticizers and stabilizers, with applications in various industries including medical devices and food packaging[30]. - The company plans to continue leveraging its technological advantages to develop new products that meet EU standards, enhancing its market position[30]. - The company achieved sales of 95,153.77 tons of environmentally friendly plasticizers and stabilizers, and 57,299.71 tons of fatty acid methyl esters (biomass energy) in 2017, with a total revenue of 882.577 million RMB, representing a 74.35% increase year-on-year[34]. - The overall sales volume of environmentally friendly plasticizers reached 90,772.57 tons in 2017, an increase of 15.34% compared to the previous year, with sales in the home decoration market (PVC wallpaper and PVC flooring) amounting to 16,200 tons, up 32.8% year-on-year[40]. - The company is focusing on expanding its market presence in various sectors, including home decoration, medical, packaging, construction, consumer goods, and automotive, to drive demand for environmentally friendly plasticizers[33]. Research and Development - Research and development expenses rose by 67.13% to 27.71 million yuan, indicating a focus on innovation and technology advancement[46]. - The company holds 19 national invention patents and 10 utility model patents as of December 2017, reflecting its commitment to technological innovation and development of new products[37]. - The company has established a postdoctoral workstation in Zhejiang Province, enhancing its capabilities in high-end research and development[80]. Acquisitions and Supply Chain - The company acquired Dongjiang Energy, a supplier of raw materials, in January 2017, enhancing its supply chain and enabling the production of biomass fuel products for export to the EU[30]. - The acquisition of 100% equity in Dongjiang Energy resulted in the sale of 57,299.71 tons of biodiesel in 2017, contributing a net profit of 24.95 million yuan, fulfilling performance commitments[41]. - The company has acquired 100% equity of upstream fatty acid methyl ester supplier Dongjiang Energy, enhancing its supply chain integration[107]. Risks and Compliance - The company emphasizes the potential risks associated with forward-looking statements in its annual report[6]. - The company faces risks from intensified market competition and potential fluctuations in raw material prices, which could impact profitability if not managed effectively[120]. - The company has not faced any risks of suspension or termination of listing during the reporting period[143]. Corporate Governance - The company has established a governance structure that includes a board of directors, a supervisory board, and a management team, ensuring clear responsibilities and oversight[194]. - The company held 6 shareholder meetings and 12 board meetings during the reporting period, ensuring compliance with relevant regulations[194][198]. - The company has no record of penalties from securities regulatory agencies in the past three years[187]. Employee and Management Information - The total remuneration for all directors, supervisors, and senior management amounted to 2.3814 million yuan[187]. - The number of employees in the parent company is 213, while the number in major subsidiaries is 111, totaling 324 employees[188]. - The company emphasizes employee training, focusing on corporate culture, sales skills, and safety production, among other areas[191].

Financial Performance - The company achieved a net profit attributable to shareholders of 61,132,750.67 RMB in 2019, representing a 13.74% increase from 53,749,385.92 RMB in 2018[4]. - Operating revenue for 2019 was 1,253,983,662.16 RMB, a 20.63% increase compared to 1,039,488,644.34 RMB in 2018[19]. - The net cash flow from operating activities was 132,261,067.21 RMB, a significant improvement of 328.30% from -57,932,585.80 RMB in the previous year[19]. - Basic earnings per share rose to 0.8334 RMB, reflecting a 13.73% increase from 0.7328 RMB in 2018[20]. - The weighted average return on equity increased to 7.92%, up from 7.25% in the previous year[20]. - The net profit attributable to shareholders for Q4 2019 was CNY 15.93 million, showing a significant increase compared to Q1 2019's CNY 5.18 million[22]. - The cash flow from operating activities for Q4 2019 was CNY 41.51 million, which is higher than Q2 2019's CNY 21.82 million[22]. - The company reported a non-recurring profit and loss of CNY 12.99 million in 2019, primarily from debt restructuring gains[25]. - The company’s total assets increased by 8.39% to 1,563,353,342.24 RMB at the end of 2019, up from 1,442,343,672.67 RMB in 2018[19]. - The net assets attributable to shareholders reached 778,523,806.75 RMB, a 3.85% increase from 749,683,103.17 RMB in 2018[19]. - The company has accumulated distributable profits of 395,783,251.44 RMB by the end of 2019[4]. Market Position and Products - The company's total operating revenue for 2019 was CNY 834.91 million, with environmental plasticizers and stabilizers contributing CNY 839.49 million (67.00%) and biomass energy contributing CNY 413.55 million (33.00%) to the total revenue[28]. - The company has established a strong market presence with approximately 700 to 800 trading customers across major economic regions in China[36]. - The company has been recognized as a key high-tech enterprise under the Torch Program and has a provincial-level plasticizer technology R&D center[36]. - The company’s products have passed EU REACH certification and multiple SGS standard tests, ensuring compliance with environmental and non-toxic standards[36]. - The company has actively participated in drafting industry standards, including "Plasticizers - Epoxidized Soybean Oil" and "Epoxidized Fatty Acid Methyl Ester," which were approved by the Ministry of Industry and Information Technology[36]. - The market share of the company's environmentally friendly plasticizers increased to 22.44%, up by 1.54% from the previous year[37]. - The company's biodiesel production and sales in 2019 were 109,000 tons and 76,100 tons, reflecting significant year-on-year growth of 105.27% and 53.14% respectively[41]. - The company has established a comprehensive management system covering various operational aspects, contributing to its sustained growth and market competitiveness[47]. - The company is strategically located in the economically developed Yangtze River Delta region, benefiting from reduced transportation costs and enhanced market access[48]. - The demand for environmentally friendly plasticizers is rapidly increasing in the economically vibrant East China region, driven by consumer preferences for green products[49]. Research and Development - The company’s R&D expenses rose by 11.30% to CNY 28.82 million, indicating a commitment to innovation and product development[61]. - The company has been authorized 24 national invention patents and 26 utility model patents in 2019, reflecting its focus on technological innovation[56]. - In 2019, the company organized 48 R&D projects with a total investment of CNY 28.82 million[96]. - The company is actively involved in the development of new materials and technologies, including biodegradable polymers and high-performance carbon fibers[87]. Environmental and Safety Initiatives - The company invested CNY 98.71 million in environmental protection in 2019, with no major safety or environmental incidents reported[57]. - The company has implemented an online monitoring system for COD, ammonia nitrogen, and pH, ensuring real-time pollution discharge monitoring[182]. - The company operates two air pollutant discharge outlets, with total emissions of 0.13 tons for sulfuric acid mist and 0.032 tons for formic acid in 2019[178]. - The total wastewater discharge increased from 81,190 tons in 2018 to 87,063 tons in 2019[177]. - The company has a wastewater treatment facility with a processing capacity of 300 tons per day, operational since January 2007[179]. Financial Management and Shareholder Relations - The company proposed a cash dividend of 2.55 RMB per 10 shares for the year 2019[4]. - The cash dividend policy mandates a minimum of 20% of distributable profits to be paid out as dividends, with higher percentages based on the company's development stage[145]. - The company emphasizes a stable and continuous profit distribution policy to ensure reasonable returns for investors[145]. - Future adjustments to the profit distribution policy require approval from the board and independent directors, ensuring transparency and accountability[146]. - The company has committed to repurchase shares if the prospectus is found to contain false statements or omissions, initiating the buyback within 10 days of such determination[150]. - The company will compensate investors for losses incurred due to misleading statements in the prospectus, following a simplified procedure and prioritizing the interests of small and medium investors[150]. - The company has outlined a clear plan for the use of undistributed profits, although specific details were not disclosed in the provided content[149]. Competition and Market Challenges - The company is facing increasing competition in the environmental plasticizer market, with many small-scale enterprises relying on price competition rather than quality improvement[34]. - The company relies heavily on traditional plasticizers, facing competition from both eco-friendly and traditional manufacturers, which intensifies industry competition[140]. - The procurement costs for key raw materials (soybean oil, waste oil, and octanol) significantly impact production costs, with fluctuations affecting profitability[140]. - The company faces risks from increasing competition in the plasticizer industry, with over 130 companies currently operating in this sector in China[139]. Legal and Compliance Issues - The company faced significant litigation matters during the reporting period, including a lawsuit involving a claim of RMB 10 million, which was settled with a payment of RMB 6 million[166]. - The company confirmed that there were no significant accounting errors that required correction in the financial statements[161]. - The company committed to reducing and regulating related party transactions to ensure fair and reasonable trading practices[154]. - The company adopted the new financial instrument standards, classifying financial assets into three categories: amortized cost, fair value through other comprehensive income, and fair value through profit or loss[159]. Future Plans and Projections - The company plans to complete the continuous transformation of another production line to achieve an annual production capacity of 60,000 tons of plasticizers by the second half of 2020[54]. - The company plans to actively expand its overseas market, particularly in the "Belt and Road" initiative, as foreign sales now account for 36.58% of total revenue[66]. - The company plans to produce 60,000 tons of chlorinated fatty acid methyl ester and 20,000 tons of environmentally friendly plasticizers in 2020, alongside the construction of a 100,000-ton biodiesel project and a 100,000-ton industrial mixed oil project[135].

Financial Performance - The company achieved a net profit attributable to shareholders of 53,749,385.92 RMB in 2018, representing a 5.42% increase compared to 50,986,324.93 RMB in 2017[4]. - Operating revenue for 2018 was 1,039,488,644.34 RMB, reflecting a 17.78% growth from 882,577,049.62 RMB in 2017[19]. - The net asset attributable to shareholders increased by 4.15% to 749,683,103.17 RMB at the end of 2018, compared to 719,794,414.26 RMB at the end of 2017[20]. - Total assets rose by 8.37% to 1,442,343,672.67 RMB in 2018, up from 1,330,919,640.87 RMB in 2017[20]. - Basic earnings per share for 2018 increased by 5.42% to CNY 0.7328 compared to CNY 0.6951 in 2017[21]. - The weighted average return on equity decreased by 0.58 percentage points to 7.25% in 2018 from 7.83% in 2017[21]. - The company reported a net cash flow from operating activities of -57,932,585.80 RMB in 2018, a significant decrease of 137.19% compared to 155,757,127.61 RMB in 2017[20]. - Non-recurring gains and losses totaled CNY 2,167,330.40 in 2018, compared to CNY 12,994,746.39 in 2017[24]. Production and Capacity - The total production capacity of the company's environmental additives increased by 44.55% to 146,000 tons/year in 2018[28]. - The company's environmental additives output reached 119,900 tons in 2018, reflecting a 17.62% increase year-on-year[28]. - In 2018, the company's production of environmental additives reached 119,900 tons, with a capacity utilization rate of 82.12%, significantly higher than the industry average[30]. - The company completed the installation of a 20,000-ton high-end benzene-free plasticizer project, which is set to enter trial production in 2019, further enhancing production capacity[31]. - The company produced 76,752.42 tons of biomass energy products in 2018, a 30.30% increase compared to the previous year, while sales reached 71,635.29 tons, up 25.02%[35]. Market and Sales - The market share of the company's environmental plasticizers increased to 20.9% in 2018, up from 13.42% in the previous year, marking a 7.48% increase[31]. - The sales volume of the company's main products, environmental plasticizers and stabilizers, reached 109,267.2 tons, representing a year-on-year growth of 14.83%[31]. - The overall sales volume of eco-friendly plasticizers reached 103,532.65 tons, an increase of 14.06% compared to the previous year[44]. - The sales revenue from domestic markets reached CNY 772.78 million, reflecting a year-on-year increase of 12.86%[89]. - The export sales revenue amounted to CNY 261.33 million, showing a significant year-on-year increase of 49.68%[89]. Research and Development - Research and development expenses increased by 59.34% to 25.89 million yuan in 2018, focusing on developing new eco-friendly plasticizers[50]. - The company organized 18 R&D projects in 2018, with research and development expenses amounting to CNY 25.89 million[77]. - The R&D focus for 2019 includes developing new catalysts and separation processes to introduce more cost-effective and environmentally friendly products to the market[113]. Environmental and Safety Measures - The company emphasizes the importance of safety and environmental protection as critical to sustainable development, ensuring no major accidents occur[111]. - The company has implemented an emergency response plan for environmental pollution incidents, complying with national regulations[157]. - The company has maintained compliance with pollution discharge standards, with no exceedances reported for key pollutants[152]. Shareholder and Stock Management - The company plans to distribute a cash dividend of 2.28 RMB per 10 shares to all shareholders, based on the total share capital on the dividend record date[4]. - The company has a cash dividend policy that mandates a minimum of 20% of distributable profits to be allocated for cash dividends each year[118]. - The company will initiate a share buyback within 10 days if the China Securities Regulatory Commission identifies any false statements or omissions in the prospectus[123]. - The company intends to hold its shares long-term and will comply with regulations regarding shareholder reductions after the lock-up period[124]. Financial Management and Investments - The company has invested a total of $291.41 million from its own funds and $310.57 million from raised funds in bank wealth management products, with no overdue amounts reported[145]. - The annualized return rates for various wealth management products range from 3.1% to 5.38%, indicating a diverse investment strategy[148]. - The total amount of guarantees provided by the company, including those to subsidiaries, was RMB 31.5 million, representing 4.05% of the company's net assets[143]. Employee and Management Structure - The company has a total of 445 employees, with 256 in the parent company and 189 in major subsidiaries[199]. - The employee composition includes 213 production personnel, 40 sales personnel, 79 technical personnel, 20 financial personnel, and 93 administrative personnel[199]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 2.8473 million yuan[196].