2017 年第三季度报告 公司代码：603928 公司简称：兴业股份 苏州兴业材料科技股份有限公司 2017 年第三季度报告 1 / 20 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 8 | 1.3 公司负责人王进兴、主管会计工作负责人陆佳及会计机构负责人（会计主管人员）陆佳保证 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 3 / 20 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 1,359,092,834.61 1,198,199,208.86 13.43 归属于上市公司 股东的净资产 1,092,869,670.80 1,041,080,489.52 4.97 年初至报告期末 （1-9 月） 上年初至上年报告期末 （1-9 月） 比上年同期增减(%) 经营活动产生的 现金流量净额 11,006,990.15 75,981,471 ...

Financial Performance - The company's operating revenue for the first half of 2017 was approximately RMB 519.41 million, representing a year-on-year increase of 33.99% compared to RMB 387.66 million in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2017 was approximately RMB 48.35 million, a decrease of 18.23% from RMB 59.13 million in the previous year[20]. - The basic earnings per share for the first half of 2017 was RMB 0.24, down 38.46% from RMB 0.39 in the same period last year[18]. - The weighted average return on net assets decreased to 4.57%, down 6.3 percentage points from 10.87% in the previous year[18]. - The net cash flow from operating activities for the first half of 2017 was approximately RMB 19.75 million, a significant decrease of 60.03% compared to RMB 49.42 million in the same period last year[20]. - The operating cost increased by 51.7% to ¥401,063,267.93, primarily due to higher sales volume and raw material prices[47]. - Research and development expenditure rose by 39.3% to ¥18,369,762.29, reflecting increased investment in innovation[46]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion yuan, representing a 20% year-over-year growth[65]. - The company’s tax expenses for the first half of 2017 were ¥9,139,495.61, down from ¥11,012,807.70 in the same period last year[97]. Assets and Liabilities - The total assets at the end of the reporting period were approximately RMB 1.24 billion, an increase of 3.74% from RMB 1.20 billion at the end of the previous year[20]. - The total current assets reached CNY 962,090,489.43, slightly up from CNY 949,350,712.82, indicating a growth of about 1.8%[88]. - Total liabilities amounted to CNY 193,814,830.00, up from CNY 157,118,719.34, which is an increase of about 23.4%[90]. - The total equity attributable to shareholders reached CNY 1,049,142,351.63, compared to CNY 1,041,080,489.52, reflecting a slight increase of approximately 0.8%[90]. - Cash and cash equivalents decreased to CNY 206,804,917.80 from CNY 472,422,370.16, representing a decline of approximately 56.2%[88]. - Accounts receivable increased by 20.55% to ¥393,366,170.45, attributed to growth in operating income[49]. - The company reported a significant increase in prepayments by 43.74% to ¥6,433,463.25, mainly due to increased advance payments for raw materials[49]. Market Position and Business Focus - The company's main business focuses on the research, production, and sales of casting molding materials, primarily resin binders, which account for nearly two-thirds of its main business revenue[24]. - The company holds a significant market position, with the highest domestic market share for cold box resin and the second highest for furfuryl resin[30]. - The market consumption of resin binders in casting molding materials was approximately 510,000 tons in 2016, with furfuryl resin accounting for about 400,000 tons and cold box resin for about 60,000 tons[30]. - The company has developed over 100 diversified products in casting materials, covering various applications in industries such as automotive and machinery[36]. - The company is actively expanding its product line and optimizing its product structure to enhance its core competitiveness in the casting materials industry[24]. Research and Development - The company has established a strong R&D capability, holding 17 invention patents and 5 utility model patents, with 12 additional invention patent applications under review[32]. - The company is investing 100 million yuan in research and development for new technologies aimed at improving operational efficiency[65]. Risk Management - The company’s risk management strategy includes diversification across product types, application fields, and sales regions to mitigate market risks[36]. - The company faces risks from raw material price fluctuations, which significantly impact production costs and operating results[53]. - The company has a high accounts receivable balance, which poses a risk of bad debts if major customers' financial conditions deteriorate[54]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 19,230[75]. - The largest shareholder, Wang Jinxing, held 56,782,900 shares, representing 28.17% of the total shares[77]. - The company reported no changes in total share capital or share structure during the reporting period[74]. - The lock-up period for shareholders is set at 36 months from the date of listing, during which they cannot transfer or manage their shares, with automatic extensions if share prices fall below the issue price[60]. Corporate Governance and Compliance - The company has implemented a stock incentive plan to motivate employees, which is expected to enhance productivity and retention[68]. - There are no significant legal disputes or arbitration matters reported during this period, indicating a stable operational environment[67]. - The financial statements are prepared in accordance with the Chinese Accounting Standards, ensuring a true and complete reflection of the company's financial status[127]. Future Outlook - The company has provided a positive outlook for the next quarter, projecting a revenue increase of 25% based on current market trends[65]. - New product launches are expected to contribute an additional 300 million yuan in revenue, with a focus on innovative technology solutions[65]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[65]. - A strategic acquisition of a smaller competitor is in progress, which is anticipated to enhance the company's product offerings and market reach[65].

Financial Performance - Operating revenue for the period was CNY 227,047,134.48, representing a 14.41% increase year-on-year[7] - Net profit attributable to shareholders decreased by 38.12% to CNY 18,714,529.68 compared to the same period last year[7] - Basic earnings per share decreased by 55.00% to CNY 0.09 compared to the same period last year[7] - Net profit for Q1 2017 was ¥18,714,529.68, a decrease of 38.4% from ¥30,242,051.83 in Q1 2016[24] - Earnings per share for Q1 2017 were ¥0.09, down from ¥0.20 in the same period last year[24] - Operating profit for Q1 2017 was ¥16,143,484.99, down 52.5% from ¥33,963,932.39 in Q1 2016[23] Assets and Liabilities - Total assets increased by 2.62% to CNY 1,229,595,347.19 compared to the end of the previous year[7] - The total liabilities increased to CNY 169,768,599.18 from CNY 157,118,719.34, reflecting a rise in accounts payable and tax liabilities[17] - Total liabilities as of the end of Q1 2017 were ¥185,061,167.26, compared to ¥172,925,294.15 at the end of Q1 2016, reflecting an increase of 7.3%[20] - The company's cash and cash equivalents decreased to CNY 208,800,303.97 from CNY 472,422,370.16, indicating a significant reduction in liquidity[16] - The accounts receivable increased to CNY 375,806,673.47 from CNY 314,565,984.29, showing a growth in credit sales[16] - Total equity as of the end of Q1 2017 was ¥1,048,267,607.69, up from ¥1,029,330,877.80 in Q1 2016, representing a growth of 1.8%[20] Cash Flow - Cash flow from operating activities showed a net outflow of CNY -7,453,561.87, a decline of 24.39% year-on-year[7] - Net cash flow from operating activities was -¥7,453,561.87, compared to -¥5,992,035.34 in the previous period, indicating a worsening cash flow situation[27] - Total cash outflow from investment activities reached ¥257,559,936.28, significantly higher than ¥15,353,648.64 in the previous period, primarily due to cash payments related to investments[27] - Net cash flow from investment activities was -¥257,160,614.82, compared to -¥15,321,434.65 in the previous period, reflecting increased investment expenditures[27] - The company reported a total cash outflow of -¥264,622,066.19 for the period, compared to -¥21,314,356.41 in the previous period, highlighting a substantial decline in cash reserves[28] Operating Costs and Profitability - The company's gross profit margin was impacted by a 34% increase in operating costs due to rising raw material prices[13] - Total operating costs for Q1 2017 were ¥210,903,649.49, up 28.2% from ¥164,478,800.84 in Q1 2016[23] - The cash paid for purchasing goods and services increased by 42% to CNY 205,537,585.37, driven by higher procurement volumes and rising raw material prices[14] - Cash outflow for purchasing goods and services rose to ¥205,537,585.37, up from ¥145,253,990.91 in the previous period, indicating increased operational costs[27] Government Support - The company received government subsidies amounting to CNY 5,020,940.00 related to its successful listing on the Shanghai Stock Exchange[7] - Cash received from government incentives reached CNY 5,020,940.00, a substantial increase of 16,317% compared to CNY 30,584.15 in the same period last year[14] Shareholder Information - The number of shareholders reached 22,194 by the end of the reporting period[11] Future Outlook - The company plans to focus on new product development and market expansion strategies in the upcoming quarters[22]

Financial Performance - The company's total revenue for 2016 was approximately CNY 820.75 million, representing a 0.57% increase compared to CNY 816.11 million in 2015[18]. - The net profit attributable to shareholders for 2016 was CNY 103.19 million, a decrease of 5.19% from CNY 108.84 million in 2015[18]. - The net cash flow from operating activities decreased by 27.65% to CNY 99.54 million in 2016, down from CNY 137.58 million in 2015[18]. - Basic earnings per share for 2016 were CNY 0.68, down 5.56% from CNY 0.72 in 2015[20]. - The weighted average return on equity decreased by 3.71 percentage points to 18.39% in 2016, compared to 22.10% in 2015[20]. - The company achieved operating revenue of RMB 820.75 million, a year-on-year increase of 0.57%, primarily due to increased sales volume of main products[43]. - Operating costs amounted to RMB 587.42 million, reflecting a 0.51% increase compared to the previous year, driven by higher sales volume and corresponding product costs[43]. - The gross profit margin was 28.43%, which is a slight increase of 0.04% from the previous year[43]. - Net profit attributable to the company was RMB 103.19 million, a decrease of 5.19% year-on-year, mainly due to increased management expenses and asset impairment losses[43]. Assets and Liabilities - The company's total assets increased by 78.96% to CNY 1.20 billion at the end of 2016, compared to CNY 669.53 million at the end of 2015[18]. - The net assets attributable to shareholders rose by 94.74% to CNY 1.04 billion at the end of 2016, up from CNY 534.59 million at the end of 2015[18]. - Total liabilities increased by 16.44% to RMB 157.12 million compared to the end of 2015[43]. - The total assets at the beginning of the period were 669.53 million RMB, which increased to 1,198.20 million RMB by the end of the period, reflecting significant growth[130]. - The total liabilities increased from 134.94 million RMB to 157.12 million RMB, resulting in a decrease in the debt-to-asset ratio from 20.90% to 13.11%[130]. Shareholder and Dividend Information - The company did not distribute any stock dividends but proposed a cash dividend of CNY 2 per 10 shares, totaling CNY 40.32 million[2]. - The company implemented a cash dividend policy, distributing a total of 30.24 million RMB in cash dividends for the year 2016, with a dividend of 2 RMB per 10 shares[104]. - The cash dividend for 2016 represented 39.07% of the net profit attributable to ordinary shareholders, maintaining a stable dividend distribution policy[105]. - The company plans to distribute at least 10% of the annual distributable profit in cash each year, with a cumulative cash distribution of no less than 50% of the average annual distributable profit over the last three years[103]. - The company has committed to distributing at least 10% of the annual distributable profits in cash for the years 2015, 2016, and 2017, with a cumulative distribution of at least 50% of the average annual distributable profits over three years[110]. Research and Development - The company has developed 17 invention patents and 5 utility model patents, enhancing its technological and R&D capabilities[33]. - Research and development expenditure increased by 7.11% to CNY 30.31 million, indicating a focus on innovation[46]. - The company will increase investment in R&D for environmentally friendly foundry binders, focusing on breakthroughs in water-soluble non-toxic resin formulations[96]. - In 2016, the company invested CNY 30.31 million in R&D, accounting for over 3% of sales revenue, and applied for 4 new invention patents[74]. Market Position and Products - The company’s main products, self-hardening furan resin and cold box resin, accounted for nearly two-thirds of the main business revenue[25]. - The company maintained the first market share in cold box resin and the second in self-hardening furan resin in the domestic market from 2011 to 2015[29]. - The revenue from self-hardening furan resin was CNY 335.19 million, with a gross margin increase of 1.97% due to increased production and sales volume[51]. - The revenue from cold box resin increased by 9.94% to CNY 205.52 million, but the gross margin decreased by 5.37% due to rising raw material costs[51]. Operational Efficiency - The company’s operational model is characterized by "centralized procurement, centralized production, and batch supply," allowing for flexibility in production[26]. - The company has established stable long-term relationships with key raw material suppliers, ensuring sufficient supply and reducing operational risks[26]. - The total production volume for main products was 86,365.70 tons, with a sales volume of 87,452.78 tons, reflecting a year-on-year increase of 10.75% in sales volume[52]. Risks and Challenges - The company has outlined various risks and countermeasures in its report, urging investors to be cautious[5]. - The company faces risks from raw material price fluctuations, which significantly impact production costs and operating results[97]. - The company is also exposed to risks related to national industrial policy adjustments that could affect demand in the equipment manufacturing sector[97]. - Environmental protection regulations may impose higher compliance costs, impacting the company's profitability[99]. Corporate Governance - The company has appointed Huapu Tianjian Accounting Firm as its external auditor for the 2016 fiscal year, with an audit fee of 400,000 RMB[119]. - There are no significant lawsuits or arbitration matters affecting the company during the reporting period[120]. - The company has confirmed that there are no major changes in accounting policies or estimates that would impact its financial statements[118]. - The company has not disclosed any major related party transactions during the reporting period[122]. Employee and Management Information - The total number of employees in the parent company is 265, while the total number of employees in the parent company and major subsidiaries is 405[149]. - The company emphasizes employee training, covering production skills, process management, safety production, and cost control, among other areas[151]. - The total remuneration paid for labor dispatch employees was CNY 1,249,277.64, with 18 dispatched employees at the end of the reporting period[152]. - The company has established a fair and reasonable internal salary and incentive system to promote the development of the company and its employees[150].