Financial Performance - Operating revenue decreased by 22.62% to CNY 341,174,164.70 for the period from January to September[17] - Net profit attributable to shareholders decreased by 19.70% to CNY 50,820,882.71 for the same period[17] - Basic earnings per share decreased by 32.43% to CNY 0.25[17] - The weighted average return on net assets decreased by 3.16 percentage points to 4.45%[17] - Total operating revenue for Q3 2020 was approximately ¥135.75 million, a decrease of 12.8% compared to ¥155.60 million in Q3 2019[51] - Total operating costs for Q3 2020 were approximately ¥119.68 million, down 13.6% from ¥138.46 million in Q3 2019[51] - Net profit for Q3 2020 was approximately ¥19.89 million, a decrease of 9.0% compared to ¥21.83 million in Q3 2019[55] - Basic earnings per share for Q3 2020 was ¥0.10, compared to ¥0.11 in Q3 2019[57] - The total profit for Q3 2020 was approximately ¥20.77 million, down 9.2% from ¥22.89 million in Q3 2019[55] Cash Flow - Net cash flow from operating activities decreased by 38.67% to CNY 32,333,791.26 from January to September[17] - The net cash flow from operating activities decreased by 38.67% to ¥52,719,243.20 compared to the same period last year[29] - The net cash flow from investing activities was negative at -¥99,448,143.68, reflecting increased investment in construction projects[29] - The net cash flow from financing activities decreased by 70.67% to ¥390,427,627.70, primarily due to successful fundraising in the same period last year[29] - The cash flow from operating activities for the first three quarters of 2020 was ¥32.33 million, down 38.7% from ¥52.72 million in the same period of 2019[66] - The total cash inflow from investing activities was CNY 161,706,319.17, while cash outflow was CNY 348,002,238.67, resulting in a net cash flow of -CNY 186,295,919.50[70] - Cash inflow from financing activities amounted to CNY 189,230,508.74, with cash outflow totaling CNY 145,680,567.68, leading to a net cash flow of CNY 43,549,941.06[70] - The net increase in cash and cash equivalents was -CNY 102,541,284.76, contrasting with an increase of CNY 307,117,733.23 in the same period last year[70] Assets and Liabilities - Total assets increased by 14.03% to CNY 1,494,672,825.81 compared to the end of the previous year[17] - Non-current assets totaled CNY 1,087,307,839.59, significantly higher than CNY 418,772,485.75 from the previous year, indicating a substantial increase in long-term investments[42] - Current liabilities rose to CNY 243,820,685.14, compared to CNY 177,727,391.98, reflecting an increase of about 37%[42] - The company's total liabilities reached CNY 326,236,487.41, up from CNY 192,136,038.61, indicating a rise of approximately 70%[42] - Total liabilities amounted to approximately ¥191.59 billion, with current liabilities at ¥177.23 billion and non-current liabilities at ¥14.36 billion[84] - The company reported intangible assets valued at ¥77.96 billion and long-term prepaid expenses of ¥10.38 billion[76] Shareholder Information - The company had a total of 22,432 shareholders at the end of the reporting period[21] - Major shareholder Wang Zhuangpeng holds 29.66% of the shares, totaling 61,064,000 shares[21] Inventory and Receivables - Accounts receivable increased by 59.38% to ¥86,204,801.90 from ¥54,087,194.99, attributed to a significant rise in receivables within the credit period[27] - Inventory rose by 53.77% to ¥41,605,192.74 from ¥27,056,703.63, mainly due to an increase in finished goods[27] - The company's inventory was reported at ¥27.06 billion, contributing to total current assets of ¥724.48 billion[81] Research and Development - Research and development expenses for Q3 2020 were approximately ¥4.30 million, a decrease of 13.5% from ¥4.97 million in Q3 2019[51] - The company reported a credit impairment loss of approximately ¥715,985 in Q3 2020, compared to a gain of ¥484,464 in Q3 2019[55] Revenue Recognition Changes - The company adopted new revenue recognition standards starting January 1, 2020, impacting the financial statements with a decrease in advance receipts by ¥3.87 million and an increase in contract liabilities by the same amount[87] - The cumulative impact of the new revenue standards was reflected in the adjustments made to the beginning retained earnings and related financial statement items[87]

Financial Performance - The company's operating revenue for 2020 was CNY 498,946,845.24, a decrease of 14.47% compared to CNY 583,341,266.40 in 2019[22] - The net profit attributable to shareholders for 2020 was CNY 76,613,432.88, down 14.91% from CNY 90,039,065.35 in 2019[22] - The net profit after deducting non-recurring gains and losses was CNY 64,721,714.52, a decline of 21.41% compared to CNY 82,352,204.67 in 2019[22] - The net cash flow from operating activities was CNY 64,266,019.70, a decrease of 41.24% from CNY 109,376,589.49 in 2019[22] - Basic earnings per share for 2020 were CNY 0.37, down 26.00% from CNY 0.50 in 2019[23] - Diluted earnings per share for 2020 were also CNY 0.37, a decrease of 26.00% compared to CNY 0.50 in 2019[23] - The weighted average return on equity (ROE) decreased by 4.05 percentage points to 6.60% from 10.65%[26] - The net profit attributable to shareholders of the listed company for Q4 2020 was CNY 25,792,550.17, showing an increase compared to Q3 2020's CNY 19,890,820.35[27] - The operating income for Q4 2020 reached CNY 157,772,680.54, up from CNY 135,753,788.78 in Q3 2020[27] - The net cash flow from operating activities for Q4 2020 was CNY 31,932,228.44, significantly higher than Q3 2020's CNY 29,225,550.48[27] Assets and Liabilities - The total assets at the end of 2020 were CNY 1,612,536,007.91, an increase of 23.02% from CNY 1,310,744,174.48 at the end of 2019[22] - The net assets attributable to shareholders at the end of 2020 were CNY 1,174,502,554.21, reflecting a growth of 5.00% from CNY 1,118,608,135.87 at the end of 2019[22] - The balance of non-operating funds occupied by controlling shareholders and their related parties at the end of the reporting period was 207.44 million RMB[166] - The company confirmed that all occupied funds have been returned in cash by the controlling shareholder as of the report issuance date[166] - The company aims to complete the repayment of occupied funds by April 2021[166] Operational Highlights - The company has an annual production capacity of 160,000 tons of recycled environmental paper[37] - The company primarily adopts a direct sales model, leveraging strong competitive advantages in the Fujian and Guangdong regions[40] - The company focuses on continuous improvement of products based on customer feedback to enhance customer satisfaction[42] - The domestic waste paper recycling rate has been improving, indicating significant growth potential in the domestic waste paper market[43] - The company emphasizes technological innovation as a core development strategy, investing heavily in R&D and forming a complete technological innovation system[47] - The company has established long-term cooperative relationships with quality suppliers to ensure raw material quality, optimizing the raw material mix to enhance product quality[48] - The company is positioned in the economically active regions of Guangdong and Fujian, benefiting from strong demand for packaging paper[51] Market and Industry Trends - The total production of paper and cardboard in China is expected to reach approximately 11 million tons in 2020, representing a year-on-year growth of about 2.2%[98] - The apparent consumption of paper and cardboard in China is projected to be around 11.4 million tons in 2020, with a year-on-year increase of approximately 6.5%[98] - The per capita disposable income in China increased from 21,966 RMB to 30,733 RMB, a cumulative growth of 39.91%[102] - The overall paper and cardboard production and consumption in China have shown a stable growth trend, indicating a balanced supply-demand situation[101] Future Plans and Investments - The company aims to enhance innovation capabilities and expand production capacity by upgrading existing production lines and introducing new high-end packaging paper production lines[108] - The company plans to focus on the construction of high-strength corrugated paper, thermal paper, and water glue paper projects in 2021[109] - The company plans to invest in an 180,000-ton annual capacity environmental recycled paper project, which is expected to enhance its product line and production capacity[117] - After the investment project is completed, the company will add 180,000 tons of high-strength corrugated paper capacity, but faces risks related to market demand and price fluctuations[120] Compliance and Governance - The company has committed to avoiding related party transactions that could harm shareholder interests[162] - The company aims to minimize related party transactions and ensure compliance with legal regulations, with a commitment to avoid asset occupation by related parties[157] - The company will comply with the decision-making procedures for related transactions, ensuring timely information disclosure[158] - The company has established measures to maintain independence in financial and operational aspects, preventing dependency on related enterprises[158] Shareholder Commitments - The company committed to not transferring or entrusting the management of its shares for 36 months post-IPO, with a maximum annual transfer limit of 25% after the lock-up period[130] - The company will not distribute cash dividends until compliance with the commitments is fulfilled[130] - The company has established a two-year period post-lock-up for any share reductions, with a minimum selling price not lower than the issue price[130] - The company guarantees to fulfill commitments made in the IPO application documents and will disclose reasons for any failure to do so[145] - The company will take measures to protect investors' rights if it cannot fulfill commitments due to uncontrollable factors[145] Audit and Legal Matters - The audit report for the 2020 financial statements was issued by Guangdong Sinong Accounting Firm with an emphasis of matter but without reservation, reflecting the company's actual situation[167] - There were no significant litigation or arbitration matters during the reporting period, indicating a stable legal standing[179] - The company and its controlling shareholders maintained good creditworthiness without any major debts or court judgments pending[179]

Financial Performance - Operating revenue for the period was ¥119,966,429.40, representing a year-on-year growth of 33.17%[12] - Net profit attributable to shareholders was ¥14,977,938.64, up 35.69% from the same period last year[12] - Basic earnings per share increased to ¥0.07, a 40% rise compared to ¥0.05 in the previous year[12] - The company reported a net profit of ¥361,843,023.35, up from ¥346,727,310.51, indicating an increase of approximately 4.4%[41] - Net profit for Q1 2021 reached $14,977,938.64, compared to $11,038,383.67 in Q1 2020, representing a 35.5% growth[48] - The company reported a total profit of $16,215,686.34 for Q1 2021, compared to $12,599,601.11 in Q1 2020, marking a 28.5% increase[48] Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,705,744,777.94, an increase of 5.78% compared to the end of the previous year[12] - Total liabilities increased to ¥515,603,052.78, up from ¥437,309,614.13, representing a growth of approximately 17%[40] - The company's equity attributable to shareholders amounted to ¥1,182,990,532.28, compared to ¥1,167,874,819.44, marking a growth of about 1.3%[41] - Total assets increased to CNY 1,705,744,777.94 as of March 31, 2021, compared to CNY 1,612,536,007.91 at the end of 2020[34] - Current assets totaled ¥686,189,487.77, slightly up from ¥685,381,880.76, showing a marginal increase[40] - Non-current assets rose to ¥926,064,098.13 from ¥833,963,188.63, reflecting an increase of approximately 11%[40] Cash Flow - The net cash flow from operating activities was -¥13,425,083.45, a significant decline compared to -¥1,011,110.09 in the previous year, reflecting a decrease of 1,227.76%[12] - Cash inflows from operating activities totaled 120,358,503.65 CNY in Q1 2021, compared to 86,092,011.74 CNY in Q1 2020, reflecting an increase of approximately 39.6%[56] - Cash outflows from operating activities amounted to 133,783,587.10 CNY in Q1 2021, compared to 87,103,121.83 CNY in Q1 2020, resulting in a net cash flow from operating activities of -13,425,083.45 CNY[56] - Cash inflows from financing activities reached 154,890,277.70 CNY in Q1 2021, compared to 73,000,000.00 CNY in Q1 2020, representing an increase of approximately 112.5%[58] - The net cash flow from financing activities was 72,307,696.65 CNY in Q1 2021, compared to 20,132,004.04 CNY in Q1 2020, indicating an increase of about 259.5%[58] Shareholder Information - The total number of shareholders at the end of the reporting period was 20,215[19] - The top shareholder, Wang Zhuangpeng, holds 61,064,000 shares, accounting for 29.66% of the total shares[19] Expenses - The cost of goods sold for Q1 2021 was CNY 95,461,193.80, up 34.63% from CNY 70,905,422.28 in the same period last year[25] - Research and development expenses for Q1 2021 were CNY 4,367,800.53, a 47.10% increase from CNY 2,969,204.43 in Q1 2020[25] - Financial expenses in Q1 2021 were $139,913.74, a significant decrease from $633,568.35 in Q1 2020[46] - Tax expenses for Q1 2021 were $1,238,147.35, down from $1,561,217.44 in Q1 2020, showing a 20.7% reduction[48] Inventory and Borrowings - The company's inventory rose to CNY 51,714,831.89, a 67.44% increase from CNY 30,885,264.03 at the end of 2020[31] - Long-term borrowings increased by 48.49% to CNY 250,209,708.50, attributed to new bank loans for fixed assets[23] - Long-term expenses increased by 75.43% to CNY 7,679,965.72 due to new syndicate fees incurred during the period[23]

2020 年半年度报告 公司代码：603863 公司简称：松炀资源 广东松炀再生资源股份有限公司 2020 年半年度报告 1 / 153 2020 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人王壮鹏、主管会计工作负责人陈剑丰及会计机构负责人（会计主管人员）陈燕玲 声明：保证半年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 拟以实施权益分派股权登记日登记的总股本为基数，向公司全体股东每10股派发现金红利 1.00元（含税），以此计算合计拟派发现金红利20,589,400.00 元（含税）。 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实质承诺，敬请 投资者注意投资风险。 七、 是否存在被控股股东及其关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情 ...

2020 年第一季度报告 公司代码：603863 公司简称：松炀资源 广东松炀再生资源股份有限公司 2020 年第一季度报告 1 / 24 2020 年第一季度报告 一、 二、 11Í 四、 目录 | --- | |----------------| | | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 24 2020 年第一季度报告 单位：元 币种：人民币 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 公司负责人王壮鹏、主管会计工作负责人陈剑丰及会计机构负责人（会计主管人员）陈燕玲 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | --- | |-------------------------------------------------|----- ...

2019 年年度报告 公司代码：603863 公司简称：松炀资源 广东松炀再生资源股份有限公司 2019 年年度报告 1 / 195 2019 年年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 广东正中珠江会计师事务所（特殊普通合伙）为本公司出具了标准无保留意见的审计报告。 四、 公司负责人王壮鹏、主管会计工作负责人陈剑丰及会计机构负责人（会计主管人员）陈燕玲 声明：保证年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 不适用 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实质承诺，敬请 投资者注意投资风险。 七、 是否存在被控股股东及其关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况？ 否 九、 重大风险提示 公司已在本报告中详细描述公司面临的风险。敬请查阅本报告"第四节 经营情况讨论与分析" ...

2019 年第三季度报告 公司代码：603863 公司简称：松炀资源 广东松炀再生资源股份有限公司 2019 年第三季度报告 1 / 21 2019 年第三季度报告 一、 重要提示 二、 公司基本情况. 11[ 重要事项 四、 附录 目录 2 / 21 2019 年第三季度报告 单位：元 币种：人民币 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 公司负责人王壮鹏、主管会计工作负责人陈剑丰及会计机构负责人（会计主管人员）陈燕玲 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 | --- | --- | --- | --- | |-------------------------------|------------------------------|------------------------------------|--------------- ...

公司代码：603863 公司简称：松炀资源 2019 年半年度报告 广东松炀再生资源股份有限公司 2019 年半年度报告 1 / 131 2019 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人王壮鹏、主管会计工作负责人陈剑丰及会计机构负责人（会计主管人员）王建业 声明：保证半年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 不适用 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实质承诺，敬请 投资者注意投资风险。 七、 是否存在被控股股东及其关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况？ 否 九、 重大风险提示 公司已在本报告中详细描述公司面临的风险。敬请查阅本报告"第四节 经营情况讨论与分析" 中有关章节关于公司面临风险的描述。 十、 其他 ...