2022 年第一季度报告 证券代码：603878 证券简称：武进不锈 江苏武进不锈股份有限公司 2022 年第一季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务报表 信息的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比上年同期增减 变动幅度(%) | | --- | --- | --- | | 营业收入 | 566,895,114.98 | -12.10 | | 归属于上市公司股东的净利润 | 32,353,510.00 | -36.02 | | 归属于上市公司股东的扣除非经常性 损益的净利润 | 9,784,770.38 | -78.30 | | ...

Financial Performance - Q3 2021 revenue reached ¥654,357,520.07, an increase of 7.59% year-over-year[3] - Net profit attributable to shareholders was ¥57,157,778.61, up 1.80% compared to the same period last year[3] - Year-to-date revenue totaled ¥1,999,045,322.99, reflecting a 12.75% increase year-over-year[3] - Year-to-date net profit attributable to shareholders decreased by 17.68% to ¥156,968,982.79[3] - The net profit for Q3 2021 was CNY 156,968,982.79, a decrease of 17.7% compared to CNY 190,680,137.37 in Q3 2020[19] - The operating profit for Q3 2021 was CNY 175,779,775.27, down from CNY 223,954,532.47 in the same period last year, reflecting a decline of 21.5%[19] - The total profit for Q3 2021 was CNY 178,255,240.33, compared to CNY 219,613,999.03 in Q3 2020, representing a decrease of 19%[19] - Basic earnings per share for Q3 2021 was ¥0.14, unchanged from the previous quarter[4] - The basic and diluted earnings per share for Q3 2021 were both CNY 0.39, down from CNY 0.48 in Q3 2020, indicating a decline of 18.75%[20] Cash Flow - Operating cash flow for the year-to-date period was ¥464,002,123.58, an increase of 42.74%[4] - Cash flow from operating activities for the first nine months of 2021 was CNY 464,002,123.58, an increase of 42.7% from CNY 325,067,868.10 in the same period of 2020[22] - Cash inflow from operating activities totaled CNY 2,017,228,554.50 for the first nine months of 2021, compared to CNY 1,491,874,021.91 in 2020, marking a growth of 35.2%[22] - Cash outflow from operating activities was CNY 1,553,226,430.92 in the first nine months of 2021, up from CNY 1,166,806,153.81 in 2020, reflecting an increase of 33.1%[22] - The net cash flow from investing activities for the first nine months of 2021 was -CNY 174,046,658.94, worsening from -CNY 31,545,637.21 in the same period of 2020[23] - The net cash flow from financing activities for the first nine months of 2021 was -CNY 182,538,183.40, compared to -CNY 142,904,883.74 in 2020, indicating a decline of 27.7%[23] - The cash and cash equivalents at the end of Q3 2021 stood at CNY 434,954,172.46, an increase from CNY 383,561,282.19 at the end of Q3 2020[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,604,631,177.93, a 5.09% increase from the end of the previous year[4] - The company's total assets as of September 30, 2021, were CNY 3,604,631,177.93, an increase from CNY 3,430,075,103.75 at the end of 2020, representing a growth of 5.07%[14] - Current assets totaled CNY 2,645,655,914.73, slightly up from CNY 2,573,061,825.65, marking an increase of 2.81%[12] - Inventory increased to CNY 963,435,921.66 from CNY 871,326,979.79, reflecting a rise of 10.56%[12] - Total liabilities increased to CNY 1,151,699,747.36 from CNY 1,025,442,775.60, showing a growth of 12.29%[14] Shareholder Information - Shareholder equity attributable to shareholders was ¥2,452,931,430.57, up 2.01% from the previous year-end[4] - The number of common shareholders at the end of the reporting period was 17,817[9] Research and Development - Research and development expenses for the first three quarters were CNY 26,697,254.25, compared to CNY 22,240,136.65 in the previous year, indicating a growth of 20.06%[18] Non-Recurring Gains - The company reported non-recurring gains of ¥6,326,115.70 for the current period[6] Financial Expenses - The company reported a decrease in financial expenses, which fell to CNY 4,324,607.56 from CNY 5,528,485.23, a reduction of 21.73%[18] Investments - The company has ongoing investments in fixed assets, which increased to CNY 535,318,531.39 from CNY 500,066,299.94, indicating a growth of 7.05%[13]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,344,687,802.92, representing a 15.44% increase compared to CNY 1,164,853,566.29 in the same period last year[18]. - The net profit attributable to shareholders of the listed company decreased by 25.81% to CNY 99,811,204.18 from CNY 134,531,119.66 in the previous year[18]. - The net cash flow from operating activities increased by 49.52% to CNY 285,511,359.17 compared to CNY 190,953,913.28 in the same period last year[18]. - The total assets at the end of the reporting period were CNY 3,639,843,618.26, a 6.12% increase from CNY 3,430,075,103.75 at the end of the previous year[18]. - The basic earnings per share decreased by 26.47% to CNY 0.25 from CNY 0.34 in the same period last year[19]. - The weighted average return on net assets decreased by 1.48 percentage points to 4.10% from 5.58% in the previous year[19]. - The net profit after deducting non-recurring gains and losses was CNY 86,493,025.00, down 30.59% from CNY 124,608,207.67 in the same period last year[18]. - The company achieved total operating revenue of CNY 1,344,687,802.92, an increase of 15.44% compared to the same period last year[31]. - The net profit attributable to shareholders was CNY 99,811,204.18, a decrease of 25.81% year-on-year[31]. - Operating costs rose to CNY 1,145,146,031.66, reflecting a 25.54% increase compared to the previous year[33]. Research and Development - The company’s R&D expenses increased by 16.43% to CNY 17,501,576.31, indicating a focus on innovation[33]. - The company holds 67 valid patents, including 23 invention patents, demonstrating its commitment to technological innovation[28]. Environmental Compliance - The company has reported a total wastewater discharge of 11,320 tons against an annual permit of 23,556 tons, indicating compliance with environmental standards[51]. - The company has implemented measures to ensure zero discharge of industrial wastewater and is actively improving energy utilization and water recycling rates[52]. - The company has established an emergency response plan for environmental pollution incidents, which was recompiled in January 2021 and filed with the local environmental authority[54]. - The company has set up a total of 4 monitoring points for organized acid mist emissions, with 13 emission outlets across 4 workplaces, measuring nitric acid mist and fluorides semi-annually[55]. - For organized natural gas furnace emissions, there are 12 emission outlets and 5 monitoring points, measuring smoke, sulfur dioxide, and nitrogen oxides quarterly, totaling 4 measurements per year[55]. - Wastewater monitoring includes 4 points measuring pH, suspended solids, chemical oxygen demand, anionic surfactants, total nitrogen, ammonia nitrogen, total phosphorus, and animal and vegetable oils, with daily measurements taken three times[56]. - Rainwater discharge is monitored at 2 points for suspended solids, chemical oxygen demand, ammonia nitrogen, and petroleum products, with measurements taken three times on rainy days[56]. - The company has not faced any administrative penalties due to environmental issues during the reporting period[57]. - As of the end of the reporting period, the company holds a blue credit rating, indicating general compliance with environmental regulations[57]. Financial Position - The total liabilities of the company as of June 30, 2021, were not specified but are critical for assessing financial health[80]. - Total assets increased to CNY 3,639,843,618.26, up from CNY 3,430,075,103.75, representing a growth of approximately 6.1% year-over-year[82]. - Total liabilities rose to CNY 1,244,510,088.17, compared to CNY 1,025,442,775.60, marking an increase of about 21.4%[82]. - Current liabilities totaled CNY 1,206,559,269.83, up from CNY 988,818,679.43, reflecting a growth of approximately 22.1%[82]. - The total equity decreased slightly to CNY 2,395,333,530.09 from CNY 2,404,632,328.15, a decline of approximately 0.4%[82]. Risks and Challenges - The company faces risks from macroeconomic fluctuations, which could lead to reduced domestic and international orders[41]. - Foreign exchange risk is present due to reliance on USD for transactions, affecting profit margins and competitive pricing[41]. - The company is exposed to raw material price volatility, particularly for stainless steel, which impacts production costs and profit margins[42]. - The company has a significant amount of accounts receivable, posing a risk of collection difficulties despite dealing with large, reputable clients[42]. - The actual controller, the Zhu Guoliang family, holds a total of 157,418,267 shares, accounting for 39.28% of the company's total equity, posing a control risk for the company[43]. - The company faces a risk of declining gross profit margin due to various factors, including raw material prices and downstream industry developments[43]. - Environmental protection costs are expected to increase due to stricter regulations and rising public awareness, impacting the company's profitability[44]. Corporate Governance - The company committed to ensuring fair pricing in related transactions[64]. - The company has established a commitment to limit share transfers by major shareholders and management to ensure compliance with relevant regulations[60]. - The total number of ordinary shareholders at the end of the reporting period was 17,347[70]. - There were no significant lawsuits or arbitration matters during the reporting period[64]. - The actual controller's integrity status was good, with no unfulfilled court judgments or significant debts due[64]. - There were no significant related party transactions reported during the period[65]. - The company did not engage in any non-operating fund occupation by controlling shareholders or related parties[63]. - There were no major guarantees or other significant contracts during the reporting period[68]. - The company's share capital structure remained unchanged during the reporting period[69]. Cash Flow - Cash inflow from operating activities for the first half of 2021 was CNY 1,301,555,668.81, an increase of approximately 43.1% from CNY 909,244,228.48 in the first half of 2020[95]. - Cash outflow from investing activities in the first half of 2021 was CNY 373,154,993.46, compared to CNY 533,315,446.47 in the first half of 2020, showing a decrease of approximately 30.0%[96]. - Cash inflow from financing activities for the first half of 2021 was CNY 75,000,000.00, a significant decrease from CNY 244,646,000.00 in the first half of 2020, representing a decline of about 69.3%[96]. - The ending balance of cash and cash equivalents as of June 30, 2021, was CNY 410,373,429.03, an increase from CNY 320,651,799.16 at the end of June 2020, reflecting a growth of approximately 28.0%[96]. Accounting Policies - The company’s financial statements comply with the requirements of enterprise accounting standards, reflecting its financial status accurately[120]. - The company’s accounting period runs from January 1 to December 31 each year[121]. - The company’s accounting currency is Renminbi[123]. - The company recognizes financial liabilities at initial recognition as either measured at fair value with changes recognized in profit or loss or at amortized cost[139]. - The company applies the effective interest method to calculate interest on financial assets measured at amortized cost, with gains or losses recognized upon recovery or disposal[141]. - The company recognizes cumulative gains or losses from financial assets measured at fair value with changes recognized in other comprehensive income upon derecognition[143]. - The company measures financial assets at fair value, with changes recognized in current profit or loss, including trading financial assets and derivative financial assets[146]. - The company estimates expected credit losses for financial assets measured at amortized cost and those measured at fair value through other comprehensive income, considering past events and future economic forecasts[157].

Financial Performance - The company's net profit for 2020 was CNY 220,079,598.51, a decrease of 29.99% compared to the previous year[5]. - Total revenue for 2020 reached CNY 2,400,893,159.83, representing a growth of 3.33% year-on-year[21]. - The basic earnings per share for 2020 was CNY 0.55, down 30.38% from CNY 0.79 in 2019[23]. - The company's total distributable profit as of December 31, 2020, was CNY 934,745,203.03[5]. - The weighted average return on equity decreased to 9.23%, down 4.65 percentage points from 2019[23]. - The company's total revenue for Q1 was approximately CNY 460.31 million, Q2 was CNY 704.54 million, Q3 was CNY 608.20 million, and Q4 was CNY 627.84 million[25]. - Net profit attributable to shareholders for Q1 was CNY 56.55 million, Q2 was CNY 77.98 million, Q3 was CNY 56.15 million, and Q4 was CNY 29.76 million[25]. - The company achieved total operating revenue of ¥2,400,893,159.83, an increase of 3.33% compared to the previous year[53]. - Total operating costs rose to ¥2,145,305,485.12, reflecting an increase of 8.97% year-on-year[53]. - Net profit attributable to shareholders decreased by 29.99% to ¥220,437,363.56 compared to the previous year[53]. Cash Flow and Operating Activities - The net cash flow from operating activities increased significantly to CNY 343,887,732.30, a rise of 643.96% compared to the previous year[21]. - The cash flow from operating activities for Q1 was CNY 82.54 million, Q2 was CNY 108.42 million, Q3 was CNY 134.11 million, and Q4 was CNY 18.82 million[25]. - The net cash flow from operating activities surged by 643.96% to CNY 343,887,732.30, primarily due to increased cash receipts from sales[15]. Research and Development - The company has developed dozens of new products in collaboration with renowned research institutions and universities, resulting in 75 patents, including 23 invention patents[41]. - The company applied for 23 new patents during the reporting period[42]. - Research and development expenses decreased by 21.67% to CNY 31,695,875.36, accounting for 3.28% of total operating revenue[65]. - The total number of R&D personnel was 162, representing 11.15% of the company's total workforce[65]. Market and Sales Performance - The main customers are distributed across the petrochemical, natural gas, power equipment manufacturing, and machinery manufacturing industries[52]. - The company’s product quality is recognized by major domestic and international clients, including China Petroleum and Qatar Petroleum[45]. - The sales revenue from the domestic market was CNY 1,891,599,999.89, reflecting a 9.70% decline compared to the previous year[57]. - The company experienced a 131.78% increase in foreign sales revenue, amounting to CNY 432,247,122.53, driven by the recovery in the LNG market[58]. - The company reported a 25% increase in sales volume in the last quarter, driven by strong demand in key markets[168]. Operational Efficiency and Strategy - The company maintains a direct sales model for its industrial stainless steel pipes, signing contracts with buyers for a buyout purchase[38]. - The company’s operating model is based on "sales-driven production," allowing for flexible manufacturing according to customer orders[35]. - The company plans to enhance its technological innovation and brand leadership to become a competitive player in the mid-to-high-end stainless steel pipe industry[82]. - The company aims to expand into international markets such as the Middle East and South America while solidifying its domestic market presence[82]. - A new strategic initiative has been launched to improve operational efficiency, aiming for a 5% reduction in costs[168]. Environmental Responsibility - The company reported a total of 19,336 tons of wastewater discharge in 2020, which is 82% of the annual permitted amount of 23,556 tons[137]. - Chemical oxygen demand (COD) emissions were 4.64 tons, representing 45.3% of the annual limit of 10.2595 tons[137]. - The company achieved zero industrial wastewater discharge in 2020, with all hazardous waste being handled by qualified units[139]. - The company is committed to increasing environmental protection investments and improving existing facilities in line with national standards[94]. Shareholder and Governance - The actual controller, the Zhu Guoliang family, holds 39.28% of the company's total shares, which poses a control risk for major business decisions[92]. - The company has established a compensation system linked to the execution of its performance commitments[103]. - The company has implemented a restricted stock incentive plan to attract and retain talented personnel, aligning the interests of shareholders and the core team[189]. - The company has a total of 286,256,320 ordinary shares, with 99.40% being tradable shares[148]. - The company’s actual controllers have pledged to avoid conflicts of interest and ensure transparency in related party transactions[103]. Audit and Compliance - The company maintained effective internal control over financial reporting as of December 31, 2020, according to the standard unqualified opinion from the auditing firm[191]. - The audit report confirmed that the financial statements fairly reflect the company's financial position and operating results for the year[194]. - The internal control audit report was issued with a standard unqualified opinion, affirming the effectiveness of the company's internal controls[191]. - There were no penalties from securities regulatory agencies in the past three years[176]. Future Outlook - The company aims to achieve a 20% increase in main business revenue and a 10% increase in net profit compared to 2020[84]. - The management expressed confidence in achieving long-term growth targets despite market challenges[168]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product offerings[168].

2021 年第一季度报告 公司代码：603878 公司简称：武进不锈 江苏武进不锈股份有限公司 2021 年第一季度报告 1 / 21 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 8 | 2021 年第一季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 非经常性损益项目和金额 √适用 □不适用 单位：元 币种：人民币 | 项目 | 本期金额 | 说明 | | --- | --- | --- | | 非流动资产处置损益 | -1,485.86 | | 3 / 21 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 3,415,849,940.99 3,430,075,103.75 -0.41 归属于上市公司股东的 净资产 2,454,537,702.98 2,404,632,328.15 2.08 年初至报告期末 上年初至上年报告期末 比上年同期增减(%) 经营活动产生的现金流 量净额 197,068,959.29 82,538,230.96 138.7 ...

2020 年第三季度报告 公司代码：603878 公司简称：武进不锈 2020 年第三季度报告 一、 重要提示 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 | 3,348,682,934.95 | 3,132,351,808.43 | 6.91 | | 归属于上市公司股东的 | 2,375,483,299.06 | 2,374,633,936.02 | 0.04 | | 净资产 | | | | | | 年初至报告期末 | 上年初至上年报告期 末 | 比上年同期增减(%) | | | （1-9 月） | | | | | | （1-9 月） | | | 经营活动产生的现金流 量净额 | 325,067,868.10 | 62,049,373.35 | 423.89 | | | 年初至报告期末 | 上年初至上年报告期 | 比上年同期增减 | | | （1-9 月） | 末 | （%） | | | | （1-9 月） | | | 营业收入 ...

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 1,164,853,566.29, representing a 1.36% increase compared to CNY 1,149,275,400.19 in the same period last year[17]. - The net profit attributable to shareholders of the listed company decreased by 10.55% to CNY 134,531,119.66 from CNY 150,394,595.90 year-on-year[17]. - Basic earnings per share for the first half of 2020 were CNY 0.34, down 10.53% from CNY 0.38 in the same period last year[18]. - The weighted average return on net assets decreased by 1.19 percentage points to 5.58% compared to 6.77% in the previous year[18]. - Total operating revenue for the first half of 2020 was CNY 1,164,853,566.29, an increase of 1.2% compared to CNY 1,149,275,400.19 in the first half of 2019[98]. - Net profit for the first half of 2020 was CNY 134,531,119.66, a decrease of 10.5% from CNY 150,394,595.90 in the same period of 2019[99]. - Total comprehensive income for the first half of 2020 was CNY 134,830,984.05, compared to CNY 150,109,769.59 in the same period of 2019, reflecting a decrease of approximately 10.16%[103]. Cash Flow - The net cash flow from operating activities significantly increased by 265.86% to CNY 190,953,913.28 compared to CNY 52,193,201.54 in the previous year[17]. - Cash inflow from operating activities for the first half of 2020 was CNY 909,244,228.48, an increase of 26.94% compared to CNY 715,895,845.66 in the first half of 2019[106]. - Cash outflow from investing activities totaled CNY 533,315,446.47, slightly down from CNY 540,450,884.75 in the first half of 2019[107]. - Cash inflow from financing activities was CNY 244,646,000.00, up from CNY 195,840,000.00 in the first half of 2019, representing an increase of 24.87%[107]. - The ending balance of cash and cash equivalents was CNY 320,651,799.16, slightly down from CNY 326,128,417.13 at the end of the first half of 2019[107]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,180,968,858.24, a 1.55% increase from CNY 3,132,351,808.43 at the end of the previous year[17]. - Total liabilities increased to 870,225,557.12 RMB from 757,717,872.41 RMB, indicating a rise of approximately 14.8%[92]. - The company's equity attributable to shareholders decreased from 2,374,633,936.02 RMB to 2,310,743,301.12 RMB, a decline of about 2.7%[92]. - Cash and cash equivalents increased to ¥390.66 million, representing 12.28% of total assets, up 31.44% from ¥297.21 million last year[34]. - Accounts receivable notes rose to ¥54.98 million, accounting for 1.73% of total assets, a 66.32% increase from ¥33.05 million[35]. Research and Development - Research and development expenses decreased by 31.98% to ¥15,031,238.22, primarily due to reduced stock incentive expenses and direct input costs[32]. - The company has developed dozens of new products and holds 67 patents, including 23 invention patents and 44 utility model patents[26]. Market and Operational Risks - The company faces risks from macroeconomic fluctuations, which could impact demand for industrial stainless steel pipes[41]. - The company acknowledges market expansion risks associated with the new production capacity, emphasizing the need to maintain existing customer relationships while developing new clients[44]. - There are potential project implementation risks that could delay construction or exceed budget, impacting project returns[44]. Environmental Compliance - The company reported a total wastewater discharge of 9,230 tons in the first half of 2020, with no exceedance of discharge standards[58]. - The company has implemented zero discharge of industrial wastewater and ensures all hazardous waste is handled by qualified units[59]. - The company is committed to enhancing its environmental protection systems to achieve sustainable development in compliance with national standards[44]. Shareholder Information - The actual controller, Zhu Guoliang's family, holds 39.28% of the company's total shares, posing a control risk for major business decisions[43]. - The company distributed a cash dividend of 7 RMB per 10 shares and increased capital by 4 shares for every 10 shares held[71]. - The company has a total of 400,758,848 shares after a capital increase of 114,502,528 shares, which represents a 40% increase from the previous total of 286,256,320 shares[72]. Accounting Policies - The company has implemented new revenue recognition standards effective January 1, 2020, impacting the reporting of contract liabilities[66]. - The company has no significant accounting errors that require retrospective restatement during the reporting period[67]. - The company applies initial measurement of intangible assets at cost upon acquisition[200].

2020 年第一季度报告 公司代码：603878 公司简称：武进不锈 江苏武进不锈股份有限公司 2020 年第一季度报告 1 / 27 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 8 | 2020 年第一季度报告 一、 重要提示 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 | 3,140,460,803.85 | 3,132,351,808.43 | 0.26 | | 归属于上市公司股东的 | 2,432,495,809.31 | 2,374,633,936.02 | 2.44 | | 净资产 | | | | | | 年初至报告期末 | 上年初至上年报告期末 | 比上年同期增减(%) | | 经营活动产生的现金流 | 82,538,230.96 | 42,346,237.50 | 94.91 | | 量净额 | | | | | | 年初至报告期末 ...

Financial Performance - The company's operating revenue for 2019 was CNY 2,323,555,459.49, representing a 16.17% increase compared to CNY 2,000,069,794.90 in 2018[22] - The net profit attributable to shareholders for 2019 was CNY 314,868,888.80, a significant increase of 58.12% from CNY 199,132,692.33 in 2018[22] - The basic earnings per share for 2019 was CNY 1.10, up 57.14% from CNY 0.70 in 2018[23] - The total assets at the end of 2019 amounted to CNY 3,132,351,808.43, an 8.62% increase from CNY 2,883,711,677.11 at the end of 2018[22] - The weighted average return on equity for 2019 was 13.88%, an increase of 4.37 percentage points from 9.51% in 2018[24] - The company's net assets attributable to shareholders at the end of 2019 were CNY 2,374,633,936.02, a 9.70% increase from CNY 2,164,732,614.97 at the end of 2018[22] - The net cash flow from operating activities for 2019 was CNY 46,223,863.17, a decrease of 16.04% from CNY 55,054,588.59 in 2018[22] - The operating cost increased to CNY 1,968,771,535.42, reflecting a year-on-year growth of 10.42%[43] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 290,861,816.46, up by 58.49% year-on-year[43] Revenue Breakdown - The main revenue sources included the petrochemical industry (42.87%), machinery manufacturing (22.93%), and power equipment manufacturing (12.79%) in 2019[42] - The company's revenue from seamless pipes reached ¥1,588,712,560.31, with a gross margin of 25.10%, reflecting a year-over-year increase of 3.40 percentage points[48] - The total revenue from the petroleum and chemical industry was ¥996,221,943.68, with a gross margin of 24.02%[48] - Total operating revenue from domestic sales was ¥2,094,885,401.89, representing a year-over-year increase of 23.60%[49] - The natural gas sector experienced a significant revenue growth of 225.08% compared to the previous year, driven by increased orders for low-temperature stainless steel pipes[49] Dividend and Share Capital - The company plans to distribute a cash dividend of CNY 7 per 10 shares, totaling CNY 200,379,424 (including tax) based on a total share capital of 286,256,320 shares[6] - The proposed cash dividend for 2019 is ¥7 per 10 shares, totaling ¥200,379,424 (including tax), with a capital increase of 4 shares for every 10 shares held, resulting in a new total share count of 400,758,848[82] - In 2019, the company distributed a cash dividend of 7.00 CNY per 10 shares, totaling 200,379,424.00 CNY, which represents 64% of the net profit attributable to ordinary shareholders[83] - The cash dividend for 2018 was 6.00 CNY per 10 shares, amounting to 122,681,280.00 CNY, accounting for 62% of the net profit attributable to ordinary shareholders[83] - The company has a total of 204,468,800 shares before the recent changes, with a capital increase of 81,787,520 shares, resulting in a new total of 286,256,320 shares[129] Research and Development - The company reported a total of 67 patents, including 23 invention patents and 44 utility model patents, indicating a strong focus on technological innovation[35] - The company is actively involved in research and development collaborations with renowned institutions, enhancing its competitive edge in the market[35] - The company’s R&D expenses increased by 2.8% to CNY 40,464,579.02, indicating a commitment to innovation[46] - Research and development expenses amounted to ¥81,467,021.24, accounting for 3.51% of total revenue, with 162 R&D personnel[56] - The company plans to upgrade its R&D center to improve technological innovation and product quality competitiveness[70] Market Strategy and Challenges - The company is actively pursuing high-quality development strategies to enhance competitiveness and profitability in the industrial stainless steel pipe market[43] - Future strategies include expanding into international markets such as the Middle East and South America while strengthening domestic market presence[69] - The company acknowledges the risk of declining gross margins due to various factors, including raw material prices and market competition, which could impact profitability[75] - The company aims to enhance product quality and pursue high-quality development in response to industry challenges[68] - The steel industry faced challenges in 2019, with a 30.9% decline in profits for member companies of the China Iron and Steel Association, despite a 10.1% increase in sales revenue[34] Financial Management and Assets - The company’s cash and cash equivalents saw a net increase of ¥3,225,968.22, a decrease of 72.36% from the previous year[58] - Cash and cash equivalents decreased by 44.38% to 297.21 million, accounting for 9.49% of total assets[61] - The total amount of trade financial assets remained stable at 313.76 million, with a slight increase of 3.76 million during the period[66] - The company reported a year-end balance of accounts receivable at CNY 402,465,708.72[94] - The year-end balance of notes receivable was CNY 165,153,791.94[94] Corporate Governance - The company has retained Lixin Accounting Firm for 11 years as its auditing institution[99] - The company’s financial statements for the year ended December 31, 2019, were audited and found to fairly reflect its financial position and operating results[183] - The board of directors consists of 9 members, including 3 independent directors, meeting the requirement of at least one-third independent directors[172] - The company has established a long-term incentive mechanism, including a restricted stock incentive plan initiated in 2018 to attract and retain talent[178] - The company strictly adheres to information disclosure regulations, ensuring transparency and equal access to information for all shareholders[173] Environmental Responsibility - The company is committed to enhancing its environmental protection systems to achieve sustainable development in compliance with national requirements[79] - The company has successfully passed the SA8000 system audit with no non-conformities found in the fifth audit[115] - The company has maintained stable environmental monitoring results, with all wastewater, noise, and waste gas emissions meeting standards[117] - The company has implemented clean production practices to improve energy utilization and reduce pollutant emissions[117] - The company has established an emergency response plan for environmental pollution incidents, which was recompiled in November 2017[120] Employee and Management Structure - The company has a total of 1,396 employees, with 1,395 in the parent company and 1 in a major subsidiary[166] - The employee composition includes 1,075 production personnel, 54 sales personnel, 190 technical personnel, 10 financial personnel, and 67 administrative personnel[166] - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period was 4.5315 million yuan[164] - The company has a training plan that involves annual surveys to assess employee training needs[168] - The company has implemented a restricted stock incentive plan, with a total of 3,456,320 shares granted after adjustments[161]

Financial Performance - Net profit attributable to shareholders increased by 71.01% to CNY 247,294,443.93 for the first nine months of the year[6] - Operating revenue for the first nine months reached CNY 1,745,631,582.97, reflecting a growth of 20.26% year-on-year[6] - Basic earnings per share rose by 22.54% to CNY 0.87[7] - The diluted earnings per share also increased by 22.54% to CNY 0.87[7] - Total operating revenue for Q3 2019 reached ¥596.36 million, a 19.7% increase from ¥498.32 million in Q3 2018[26] - Net profit attributable to shareholders for Q3 2019 was ¥96.90 million, representing an increase of 83.9% compared to ¥52.65 million in Q3 2018[28] - Basic and diluted earnings per share for Q3 2019 were both ¥0.34, compared to ¥0.25 in Q3 2018[29] - The company reported a total profit of ¥112.45 million for Q3 2019, compared to ¥59.55 million in Q3 2018, marking an increase of 88.7%[27] Asset Management - Total assets increased by 8.99% to CNY 3,142,843,522.86 compared to the end of the previous year[6] - The company's accounts receivable increased by 36.34% to ¥548,713,154.92 compared to the previous year-end[14] - The construction in progress rose significantly by 187.18% to ¥145,122,688.84, primarily due to the ongoing construction of a precision stainless steel plant[14] - Current assets totaled ¥2,409,359,598.88, an increase from ¥2,213,335,646.11, reflecting a growth of about 8.8%[21] - The total assets reached ¥3,141,276,017.30, compared to ¥2,884,187,657.70, indicating an increase of about 8.9%[22] - The company's total non-current assets amounted to CNY 669,859,413.33 as of the third quarter of 2019, including fixed assets of CNY 464,029,553.00 and intangible assets of CNY 93,086,200.86[44] Liabilities and Equity - Total liabilities increased to ¥847,876,709.92, up from ¥722,561,766.49, representing a growth of approximately 17.4% year-over-year[22] - The company's short-term borrowings increased significantly to ¥180,000,000.00 from ¥80,000,000.00, representing a growth of 125%[22] - The total equity attributable to shareholders increased to ¥2,293,399,307.38 from ¥2,161,625,891.21, marking a growth of approximately 6.1%[23] - Long-term payables decreased slightly to ¥18,446,873.60 from ¥19,928,153.60, a decline of approximately 7.4%[22] Cash Flow - The net cash flow from operating activities decreased by 40.57% to CNY 62,049,373.35 compared to the same period last year[6] - The company's cash inflow from operating activities for the first three quarters of 2019 was CNY 1,110,751,074.47, a slight increase from CNY 1,100,113,684.61 in the same period of 2018, representing a growth of approximately 0.6%[36] - The net cash flow from operating activities decreased to CNY 62,049,373.35 in 2019 from CNY 104,412,530.71 in 2018, indicating a decline of about 40.6%[36] - Cash inflow from financing activities was CNY 219,740,000.00, significantly higher than CNY 79,750,400.00 in 2018, reflecting an increase of about 175.5%[39] - The ending balance of cash and cash equivalents was CNY 250,727,483.68, down from CNY 333,295,712.21 in 2018, a decrease of approximately 24.8%[37] Shareholder Information - The number of shareholders reached 18,717 by the end of the reporting period[11] - The top shareholder, Zhu Guoliang, holds 16.14% of the shares, totaling 46,187,516 shares[12] Government Subsidies - The company reported a total of CNY 5,474,381.77 in government subsidies closely related to its normal business operations[8] Research and Development - Research and development expenses for Q3 2019 were ¥9.08 million, a decrease of 16.7% from ¥10.91 million in Q3 2018[26] - Research and development expenses for the first three quarters of 2019 totaled ¥31,182,845.73, an increase of 12.8% from ¥27,799,059.51 in the same period of 2018[32]