证券代码：603991 证券简称：至正股份 公告编号：2023-020 深圳至正高分子材料股份有限公司 关于召开 2022 年度业绩说明会的公告 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、准确性和完整性承担法律责任。 重要内容提示： 投资者可于2023年5月5日(星期五)至5月11日(星期四)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司 邮箱 zzdh@sh-original.com 进行提问。公司将在说明会上对投资者普 遍关注的问题进行回答。 深圳至正高分子材料股份有限公司（以下简称"公司"）已于 2023 年 4 月 27 日发布公司 2022 年度报告，为便于广大投资者更全 面深入地了解公司 2022 年度经营成果、财务状况，公司计划于 2023 年 5 月 12 日下午 14:00-15:00 举行 2022 年度业绩说明会，就投资者 关心的问题进行交流。 （二） 会议召开地点：上证路演中心 （三） 会议召开方式：上证路演中心网络互动 三、 参加人员 公司董事长、总裁施君先生，董事会秘书、副总裁王帅先生，财 务总监李 ...

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 信息的真实、准确、完整。 第三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 2022 年第三季度报告 证券代码：603991 证券简称：至正股份 深圳至正高分子材料股份有限公司 2022 年第三季度报告 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。 | 项目 | 本报告期 | 本报告期比上 | 年初至报告期 | 年初至报告期末 | | --- | --- | --- | --- | --- | | | | 年同期增减变 | 末 | 比上年同期增减 | | | | 动幅度(%) | | 变动幅度(%) | | 营业收入 | 31,969,031.97 | -23.59 | 73,229,556.00 | -29.05 | ...

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the first half of 2022, representing a year-on-year growth of 15%[10]. - The company's operating revenue for the first half of the year was CNY 41.26 million, a decrease of 32.78% compared to the same period last year[18]. - The net profit attributable to shareholders was a loss of CNY 6.13 million, an improvement of 42.37% from the previous year's loss of CNY 10.63 million[27]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 7.91 million, which is a 32.29% improvement from the previous year's loss of CNY 11.68 million[27]. - The gross profit margin improved by 4.59 percentage points due to price increases on certain products[18]. - The company reported a total revenue of 1.5 billion, representing a year-over-year growth of 15%[61]. - The company reported a significant increase in revenue for the first half of 2022, with a year-over-year growth of 15%[65]. - The company reported a net loss for the first half of 2022 of CNY 6,126,442.39, an improvement from a net loss of CNY 10,630,560.70 in the first half of 2021[106]. User Growth and Market Expansion - User data indicates a growing customer base, with an increase of 20% in active users compared to the same period last year, reaching 500,000 users[10]. - User data showed an increase in active users to 10 million, up 20% compared to the previous period[61]. - The company is expanding its market presence in Southeast Asia, with plans to establish a new manufacturing facility in Vietnam by Q4 2022[10]. - Market expansion plans include entering three new international markets by the end of the fiscal year[61]. - The company acknowledges the risk of market development challenges due to some cable enterprises producing their own polymer materials, which could impact the company's market expansion efforts[41]. Research and Development - The company has invested 50 million RMB in R&D for new polymer materials, aiming to innovate and improve product performance[10]. - The company is investing 50 million in R&D for new technologies aimed at enhancing user experience[61]. - The company plans to enhance its R&D capabilities to keep pace with industry developments and market demands[38]. Strategic Initiatives - The company has set a future outlook with a revenue target of 2.5 billion RMB for the full year 2022, which would require a 10% increase in the second half[10]. - A strategic acquisition of a local competitor is under consideration, which could enhance the company's production capacity by 30%[10]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 200 million allocated for potential deals[61]. - The company is considering strategic acquisitions to enhance its market position, with a budget of $300 million for potential deals[65]. Operational Challenges - The company faced significant operational challenges due to the COVID-19 pandemic, particularly in Shanghai, affecting logistics and production[27]. - The management highlighted potential risks, including fluctuations in raw material prices, which could impact profit margins by up to 5%[10]. - The company’s small operational scale presents a risk to its stability and resilience against adverse external changes[42]. Financial Position - The company has maintained a strong balance sheet, with total assets reported at 3 billion RMB, reflecting a 12% increase from the previous year[10]. - The company's total assets decreased by 6.68% to CNY 400.57 million from CNY 429.25 million at the end of the previous year[1]. - The net assets attributable to shareholders decreased by 1.93% to CNY 311.46 million compared to CNY 317.59 million at the end of the previous year[1]. - The company's cash and cash equivalents decreased from CNY 52,200,942.38 at the beginning of the period to CNY 42,881,689.38 by the end of the period, representing a decline of approximately 18.5%[96]. - Total current assets decreased from CNY 175,509,865.28 to CNY 153,758,971.91, reflecting a decrease of approximately 12.4%[96]. Compliance and Governance - The company has passed the ISO 9001:2015 quality system certification and has established strict quality control standards to mitigate product quality risks[43]. - The company committed to ensuring that no unfair benefits are provided to other entities or individuals, and that executive consumption behaviors will be constrained[73]. - The company received a regulatory decision from the Shenzhen Securities Regulatory Bureau on January 6, 2022, regarding corrective measures due to violations, affecting the chairman and other executives[75]. - The company has established a rectification plan to address the issues raised in the regulatory decision, ensuring compliance with relevant laws and regulations[76]. Environmental and Social Responsibility - The company has implemented effective pollution control measures, ensuring compliance with national environmental regulations, but may face increased costs if stricter standards are enforced in the future[43]. - The company strictly adhered to the environmental protection regulations set by the Shanghai Municipal Pollution Discharge Permit, with all inspections confirming compliance[54]. - The company processed various polyolefin resins and flame retardants, generating pollutants including trace waste gas, solid waste, and noise during production[54]. Future Outlook - The company provided a future outlook with a revenue guidance of 1.8 billion for the next quarter, indicating a growth of 12%[61]. - The company anticipates a strong performance in the upcoming holiday season, expecting a 30% increase in sales during this period[65]. - The company is accelerating the construction of multiple product lines to diversify its offerings, which are currently considered relatively singular compared to comprehensive cable material producers[41].

Financial Performance - The net profit attributable to the parent company's shareholders for 2021 was -53.43 million RMB, indicating a loss compared to the previous year[6]. - The parent company achieved a net profit of -4.86 million RMB, with a total distributable profit at the end of the year amounting to 39.46 million RMB[6]. - The company will not distribute profits or increase capital reserves due to the negative net profit for the year, in line with its articles of association[6]. - The company achieved operating revenue of CNY 128.14 million in 2021, a decrease of 58.84% compared to the previous year[22]. - The net profit attributable to shareholders was CNY -53.43 million, representing a decline of 11.13% year-over-year[30]. - The net profit attributable to shareholders, excluding non-recurring gains and losses, was CNY -56.64 million, down 9.01% from the previous year[30]. - The total assets decreased by 24.92% to CNY 429.25 million at the end of 2021 compared to the end of 2020[22]. - The company reported a significant decrease in net assets attributable to shareholders, down 14.40% to CNY 317.59 million at the end of 2021 compared to the end of 2020[22]. - The cash flow from operating activities was CNY 110.30 million, an increase of 64.65% compared to 2020[22]. Market and Industry Challenges - The company faced challenges from increased competition in the industry and adverse effects from international commodity price rises and sporadic COVID-19 outbreaks[30]. - The overall growth of the cable materials market in 2021 did not exceed 2%, indicating a slow growth rate due to macroeconomic weakness and manufacturing capacity reduction[32]. - The prices of key raw materials, such as EVA and PE resins, increased by over 50% during the year, significantly raising production costs for the company[32]. - The company faced substantial repayment pressure and refinancing difficulties, leading to insufficient operating cash flow and a reduction in revenue[32]. Operational Adjustments - The company focused on adjusting its customer structure, targeting high-quality clients while reducing business volume from low-margin clients[30]. - The company implemented measures to strengthen internal management and control costs to mitigate the decline in net profit[30]. - The company optimized its customer structure by focusing on high-margin clients, resulting in a noticeable decline in operating income compared to the previous year[34]. - The company implemented measures to enhance liquidity, including locking in procurement costs and extending supplier payment terms[34]. Research and Development - The company applied for 82 invention patents and 2 utility model patents, with 35 invention patents granted as of December 31, 2021, showcasing its strong R&D capabilities[39]. - The company developed low-smoke halogen-free flame-retardant materials for 5G optical cables, which have been recognized by major optical cable manufacturers and are now in mass production[41]. - The company collaborated with Shanghai Cable Research Institute to develop cable materials for third-generation nuclear power plants, achieving international leading technical performance[41]. - The company is positioned as a leading enterprise in the domestic market for environmentally friendly low-smoke halogen-free polyolefin materials used in electric cables, focusing on high-end applications[79]. Governance and Compliance - The company has established a governance structure that complies with relevant laws and regulations, ensuring the protection of shareholder rights and interests[120]. - The company actively engages with investors through various channels to enhance communication and maintain investor rights[121]. - The company has a strong emphasis on corporate governance, with independent directors playing a crucial role in oversight[131]. - The company received administrative penalties from the Shenzhen Securities Regulatory Bureau on January 6, 2022, including corrective measures and warning letters for certain individuals[142]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report[7]. - The report includes a detailed description of potential risks faced by the company in the management discussion and analysis section[9]. - The company faces risks related to the potential loss of core technical personnel and the leakage of proprietary technology, which could impact its R&D capabilities[111]. - The company is exposed to risks from fluctuations in raw material prices, particularly those linked to petroleum products, which could affect operational stability[112]. Employee and Management Structure - The total number of employees in the parent company and major subsidiaries is 132, with 78 in production, 7 in sales, 14 in technology, 4 in finance, and 29 in administration[153]. - The company has a training program focused on enhancing professional skills for technical and sales personnel, as well as leadership training for core positions[156]. - The company established a competitive and equitable salary system, adjusting salaries annually based on market levels[155]. - The company plans to continue attracting high-end talent to strengthen its technical team in response to market demands[69]. Environmental Compliance - The company has implemented effective pollution control measures, ensuring that emissions comply with national regulations, but stricter future environmental standards may increase operational costs[116]. - The company adhered to environmental regulations and did not face any penalties for violations during the reporting period[166]. - The company’s production processes generated minimal pollutants, and all environmental monitoring results were compliant with regulations[167]. Strategic Focus - The company aims to enhance its market presence through strategic partnerships and potential acquisitions in the future[132]. - The company plans to enhance its product structure and expand into new business areas, particularly in the electrical equipment and power markets, while also exploring international market opportunities[109]. - The company is positioned to benefit from the national policies promoting the development of 5G and smart communication networks, which present numerous opportunities for the polymer materials market[77].

Financial Performance - The company's operating revenue for Q1 2022 was ¥21,667,902.52, representing a decrease of 30.12% compared to the same period last year[5]. - The net profit attributable to shareholders of the listed company was a loss of ¥2,758,824.50, with a year-on-year decrease of approximately 38.2% in losses[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥3,256,401.78, reflecting a year-on-year decrease of approximately 37.4% in losses[6]. - The net cash flow from operating activities was -¥8,321,581.86, a decrease of 132.99% compared to the previous year[5]. - The company reported a net loss of ¥24,672,793.20, compared to a net loss of ¥21,913,968.70 in the previous period[15]. - Total revenue for Q1 2022 was ¥21,667,902.52, a decrease of 30.5% compared to ¥31,008,366.17 in Q1 2021[18]. - Net loss for Q1 2022 was ¥2,758,824.50, an improvement of 38.2% compared to a net loss of ¥4,464,651.88 in Q1 2021[19]. - Basic and diluted earnings per share for Q1 2022 were both -¥0.04, an improvement from -¥0.06 in Q1 2021[19]. Assets and Liabilities - The total assets at the end of the reporting period were ¥415,252,774.04, down 3.26% from the end of the previous year[6]. - The equity attributable to shareholders of the listed company was ¥314,827,063.62, a decrease of 0.87% from the end of the previous year[6]. - Total current assets decreased to ¥164,819,688.00 from ¥175,509,865.28, a decline of about 6.1%[14]. - Total liabilities decreased to ¥100,425,710.42 from ¥111,665,250.10, reflecting a reduction of approximately 10%[15]. - The company's total assets decreased to ¥415,252,774.04 from ¥429,251,138.22, indicating a decline of about 3.2%[15]. - The company's total equity attributable to shareholders decreased to ¥314,827,063.62 from ¥317,585,888.12, a decrease of approximately 0.9%[15]. - The company had short-term borrowings of ¥19,521,055.60, an increase from ¥15,026,736.11, representing a rise of approximately 30.1%[14]. - The company’s total non-current liabilities slightly decreased to ¥44,549,313.44 from ¥45,042,305.27, a reduction of about 1.1%[15]. Cash Flow and Expenses - Operating cash flow for Q1 2022 was negative at ¥8,321,581.86, compared to positive cash flow of ¥25,222,537.92 in Q1 2021[22]. - Cash and cash equivalents at the end of Q1 2022 totaled ¥47,568,596.62, down from ¥52,200,942.38 at the beginning of the quarter[23]. - The company raised ¥5,000,000.00 in borrowings during Q1 2022, compared to ¥30,000,000.00 in the same period of 2021[23]. - The net cash flow from financing activities for Q1 2022 was ¥3,689,236.11, a significant improvement from -¥11,049,308.32 in Q1 2021[23]. - Research and development expenses for Q1 2022 were ¥1,310,125.19, a decrease of 29.3% from ¥1,853,216.21 in Q1 2021[18]. - Sales expenses for Q1 2022 were ¥844,630.00, slightly down from ¥875,604.67 in Q1 2021[18]. Operational Challenges - The decline in operating revenue was primarily due to the impact of the Shanghai pandemic, which severely restricted logistics and sales[8]. - The company is focusing on optimizing customer structure and improving product gross margins to manage related period expenses[8]. - The report indicates that the financial statements have not been audited[4]. Inventory and Receivables - Accounts receivable decreased to ¥67,301,120.72 from ¥75,419,712.42, reflecting a reduction of about 10.5%[13]. - Inventory increased to ¥23,364,567.01 from ¥19,869,484.06, indicating a rise of approximately 17.5%[14].

Financial Performance - The company's operating revenue for Q3 2021 was ¥41,840,653.86, a decrease of 22.03% compared to the same period last year[5] - The net profit attributable to shareholders for Q3 2021 was a loss of ¥5,699,398.56, with a year-to-date loss of ¥16,329,959.26, reflecting a significant decline in profitability[5] - The company reported a 56.77% decrease in operating revenue for the year-to-date period, primarily due to optimizing customer structure and reducing low-margin business[9] - The net loss attributable to shareholders for Q3 2021 decreased by approximately 41.21% compared to the same period last year, attributed to reduced low-margin customer business and related expenses[9] - Total operating revenue for the first three quarters of 2021 was CNY 103,217,649.09, a decrease of 56.9% compared to CNY 238,752,834.92 in the same period of 2020[19] - Net profit for Q3 2021 was a loss of CNY 16,329,959.26, an improvement from a loss of CNY 35,779,752.51 in Q3 2020[21] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥61,468,912.44, indicating a positive cash flow despite the losses[6] - The net cash flow from operating activities for the first three quarters of 2021 was CNY 61,468,912.44, an increase of 18.5% compared to CNY 51,879,733.65 in the same period of 2020[24] - The company achieved a cash inflow from operating activities of CNY 114,533,966.73 in the first three quarters of 2021, compared to CNY 271,036,013.19 in the same period of 2020[24] - The net cash flow from investment activities was -29,552.14 thousand, compared to -740,103.87 thousand in the previous period[26] - Cash inflow from financing activities totaled 90,000,000.00 thousand, down from 167,910,000.00 thousand year-over-year[26] - The net cash flow from financing activities was -60,814,393.86 thousand, slightly improved from -63,784,942.16 thousand year-over-year[26] - The ending balance of cash and cash equivalents was 10,132,057.54 thousand, up from 5,976,762.32 thousand in the previous period[26] Assets and Liabilities - Total assets at the end of Q3 2021 were ¥474,905,240.85, a decrease of 16.93% from the previous year-end[6] - Current assets totaled RMB 220,237,472.18, down from RMB 306,627,483.56 year-over-year[16] - Total current liabilities decreased to RMB 69,637,433.54 from RMB 188,972,086.95, indicating a reduction of approximately 63.2%[17] - Total liabilities as of Q3 2021 were CNY 120,219,982.15, a decrease from CNY 200,697,290.66 in the previous year[20] - The total equity attributable to shareholders was CNY 354,685,258.70, down from CNY 371,015,217.96 in the previous year[20] Shareholder Information - The equity attributable to shareholders decreased by 4.40% to ¥354,685,258.70 compared to the previous year-end[6] - The company has a major shareholder, Shenzhen Zhengxin Tongchuang Investment Development Co., Ltd., holding 27.00% of shares[12] Cost Management - Total operating costs for Q3 2021 were CNY 121,473,403.34, down 55.6% from CNY 273,614,176.42 in Q3 2020[20] - The company reported a decrease in sales expenses to CNY 2,252,710.77 in Q3 2021, down 83.7% from CNY 13,788,787.73 in Q3 2020[20] - Research and development expenses for Q3 2021 were CNY 5,150,829.67, a reduction of 62.5% compared to CNY 13,724,646.88 in Q3 2020[20] Future Outlook - The company plans to continue focusing on high-margin customers and reducing low-margin business to improve profitability in the future[9]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥61,376,995.23, a decrease of 66.84% compared to ¥185,087,659.52 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was -¥10,630,560.70, compared to -¥26,085,647.13 in the previous year, indicating an improvement[20]. - The net cash flow from operating activities increased significantly to ¥48,964,715.35, up 388.23% from ¥10,028,972.14 in the same period last year[20]. - Basic earnings per share for the reporting period was -0.14 yuan, compared to -0.35 yuan in the same period last year, indicating an improvement[22]. - The weighted average return on net assets increased by 3.51 percentage points to -2.91% from -6.42% year-on-year[22]. - The company reported a net loss of 8,257,562.86 for the period, indicating ongoing challenges in profitability[51]. - The total comprehensive income for the current period was a loss of CNY 10,630,560.70, reflecting a significant decline in performance[147]. Cash Flow and Liquidity - Cash and cash equivalents increased by 128.12% to 21,687,321.55, primarily due to increased net cash flow from operating activities[46]. - The net cash flow from operating activities for the first half of 2021 was ¥48,964,715.35, a significant increase from ¥10,028,972.14 in the same period of 2020, representing a growth of approximately 387.5%[136]. - The ending cash and cash equivalents balance increased to ¥21,687,321.55 at the end of the first half of 2021, compared to ¥12,875,380.03 at the end of the first half of 2020[137]. - The company reported a net increase in cash and cash equivalents of ¥12,180,230.45 for the first half of 2021, contrasting with a decrease of -¥4,411,331.81 in the same period of 2020[137]. Assets and Liabilities - The total assets decreased by 10.63% to ¥510,957,574.65 from ¥571,712,508.62 at the end of the previous year[20]. - Accounts receivable decreased by 31.62% to 122,744,527.36, mainly due to reduced business volume and decreased collections[46]. - Inventory decreased by 12.68% to 33,757,771.78, reflecting changes in operational needs[46]. - Short-term borrowings decreased by 74.32% to 25,030,916.68, primarily due to repayment of bank loans[46]. - Total current assets decreased to ¥252,851,844.78 from ¥306,627,483.56 in the previous year[120]. - Total liabilities decreased from CNY 200,697,290.66 to CNY 150,572,917.39, a decline of about 25%[122]. Research and Development - The company applied for a total of 82 invention patents and 2 utility model patents, with 39 invention patents and 2 utility model patents granted as of June 30, 2021[35]. - The company is investing 50 million in research and development for new technologies aimed at improving operational efficiency[86]. - The company’s R&D expenses decreased by 50.90% due to a reduction in R&D projects during the reporting period[43]. Market and Business Strategy - The company aims to enhance its competitive advantage in the high-end special wire and cable polymer materials market, driven by national policies and infrastructure investments[31]. - The company operates under a "R&D + procurement + production + sales" integrated business model, emphasizing market orientation and innovation[33]. - The overall industry outlook is positive, with significant growth opportunities driven by new infrastructure projects and technological advancements[30]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2022[87]. Environmental and Regulatory Compliance - The company is not classified as a key pollutant discharge unit and has complied with environmental regulations without any penalties during the reporting period[75]. - The company has implemented effective pollution control measures, but future stricter environmental standards may require additional investments, potentially lowering profitability[62]. - The company strictly adhered to the environmental management requirements set by the Shanghai Pollution Discharge Permit, with all inspections meeting relevant regulations[76]. Corporate Governance and Management - There have been changes in the board of directors, with several resignations and new appointments, including the election of Li Jinfeng as the new financial director[70]. - The company has committed to ensuring that the dilution of immediate returns from its initial public offering is effectively implemented, with the controlling shareholder promising not to interfere in the company's management activities[99]. - The company has not reported any significant litigation or arbitration matters during the reporting period[102]. Shareholder and Equity Information - The total number of ordinary shareholders as of the end of the reporting period is 3,737[110]. - The largest shareholder, Shenzhen Zhengxin Tongchuang Investment Development Co., Ltd., holds 20,124,450 shares, accounting for 27.00% of total shares[112]. - The company plans to reduce shareholding by no more than 5% of its total shares in the first year and the same percentage in the second year after the lock-up period expires[89].

Financial Performance - The company reported a net profit attributable to shareholders of the parent company of -48.08 million yuan for the year 2020, with the parent company achieving a net profit of -35.28 million yuan[5]. - The company's operating revenue for 2020 was ¥311,316,193.23, a decrease of 32.60% compared to ¥461,865,586.09 in 2019[21]. - The net profit attributable to shareholders for 2020 was -¥48,079,600.06, improving from -¥57,054,233.15 in 2019[21]. - The cash flow from operating activities for 2020 was ¥66,992,899.93, an increase of 46.71% from ¥45,662,732.98 in 2019[21]. - The total assets at the end of 2020 were ¥571,712,508.62, down 17.12% from ¥689,845,578.34 at the end of 2019[23]. - The basic earnings per share for 2020 was -¥0.65, compared to -¥0.77 in 2019[24]. - The weighted average return on equity for 2020 was -12.17%, an increase of 0.44 percentage points from -12.61% in 2019[24]. - The company reported a net profit attributable to shareholders of -57,054,233.15 RMB for the year 2019, resulting in a cumulative distributable profit of 79,594,961.20 RMB at the end of the year[117]. - For the year 2020, the company achieved a net profit attributable to the parent company of -48,079,600.06 RMB, with remaining distributable profit of 44,318,200 RMB[118]. Risk Management - The report includes a risk statement indicating that future plans and development strategies do not constitute a substantive commitment to investors, highlighting the importance of investment risk awareness[6]. - The company has faced various risks as detailed in the operational discussion and analysis section of the report[8]. - The company faces risks from fluctuations in raw material prices, which could impact operational stability due to their dependence on petroleum products[110]. - The company recognizes the risk of core technology leakage and personnel turnover, which could affect its R&D capabilities[108]. - The company is working on diversifying its product lines to mitigate risks associated with a narrow product range, which currently focuses on environmentally friendly low-smoke halogen-free materials[111]. Research and Development - The company focuses on the R&D, production, and sales of environmentally friendly polymer materials for wire and cable applications[33]. - The company applied for 75 invention patents and 2 utility model patents, with 35 invention patents granted[36]. - The company focuses on R&D and has a well-equipped testing center with over 180 sets of testing equipment[36]. - The company is positioned in the mid-to-high-end market for environmentally friendly special polyethylene materials[35]. - The company is focusing on the research of thermoplastic polypropylene-based insulation and semi-conductive shielding materials for medium-voltage power cables, achieving preliminary results[77]. - The company has implemented various production processes to manufacture environmentally friendly low-smoke halogen-free polymer materials for optical communication cables and electrical equipment lines[78][79]. Corporate Governance - The board of directors and supervisory board members have guaranteed the authenticity, accuracy, and completeness of the annual report, with no false records or misleading statements[7]. - The company has established a strict quality control system and has obtained ISO9001:2015 certification to ensure product reliability and safety[112]. - The company has a strong governance structure with independent directors overseeing operations, which is crucial for maintaining investor confidence[189]. - The company has maintained its commitment to corporate governance through regular elections and appointments of board members[197]. - The company has a structured remuneration decision-making process involving a compensation and nomination committee[196]. Market Position and Strategy - The company aims to enhance its competitive advantage in niche markets through rapid product structure and business scale development[33]. - The company aims to enhance its R&D investment and explore new cooperation models to improve profitability[42]. - The company is committed to expanding its product line and market space, particularly in the environmentally friendly low-smoke halogen-free polyolefin cable materials segment[105]. - The company recognizes the long-term growth potential in the cable industry driven by urbanization and industrialization trends in China[103]. - The company intends to accelerate its international market expansion and strengthen cooperation with foreign enterprises[105]. Shareholder and Equity Management - The company has not proposed any profit distribution or capital reserve transfer for both 2019 and 2020 due to negative net profits, in accordance with its articles of association[117][118]. - The company has committed to not engaging in any direct or indirect competition with its controlled enterprises[123]. - The company has established a three-year shareholder return plan for 2020-2022 to better safeguard shareholder returns[117]. - The company will avoid related party transactions to protect the interests of non-affiliated shareholders[128]. - The company will ensure that neither it nor its subsidiaries will engage in any business that competes directly or indirectly with its main operations[127]. Operational Challenges - The company has faced challenges due to the COVID-19 pandemic, impacting sales in the optical communication sector[42]. - The company has faced performance declines over the past two years due to the impact of the COVID-19 pandemic and intensified competition in the wire and cable industry[154]. - The company experienced a significant drop in sales volume for optical communication cables, with revenue down 44.07% to CNY 124.66 million[49]. - The company reported a 39.49% decrease in production volume for optical communication cables, with sales volume also down by 39.43%[52]. Audit and Compliance - The report is audited by Lixin Zhonglian Certified Public Accountants, which issued a standard unqualified audit opinion[4]. - The company has not disclosed any significant events or changes in its stockholder situation in the report[9]. - The company and its former actual controller received corrective measures from the China Securities Regulatory Commission for regulatory compliance issues[148]. - The company has undergone a change in its actual controller and board members, with the previous controller no longer holding any positions[148].

Financial Performance - Operating revenue for the period was CNY 31,008,366.17, a decrease of 54.87% year-on-year[6] - Net profit attributable to shareholders was a loss of CNY 4,464,651.88, compared to a loss of CNY 12,659,955.24 in the same period last year[6] - Basic and diluted earnings per share were both -CNY 0.06, compared to -CNY 0.17 in the previous year[6] - Total operating revenue for Q1 2021 was CNY 31,008,366.17, a decrease of 54.9% compared to CNY 68,712,399.24 in Q1 2020[28] - Gross profit for Q1 2021 was CNY -5,332,392.80, indicating a loss compared to a gross profit in Q1 2020[28] - Net loss for Q1 2021 was CNY 5,309,000.00, compared to a net profit in the same period last year[28] - The total comprehensive income for Q1 2021 was a loss of CNY 4,464,651.88, compared to a loss of CNY 12,659,955.24 in Q1 2020, showing a significant improvement[30] - The company's operating profit for Q1 2021 was a loss of CNY 992,617.26, compared to a loss of CNY 12,664,580.02 in Q1 2020, indicating a reduction in operational losses[31] Cash Flow and Liquidity - Net cash flow from operating activities increased by 369.64% to CNY 25,222,537.92 compared to the same period last year[6] - Cash and cash equivalents increased by 149.08% to ¥23,680,320.70, primarily due to cash collections from accounts receivable[15] - The net cash flow from operating activities for Q1 2021 was CNY 25,222,537.92, a substantial increase from CNY 5,370,665.02 in Q1 2020, reflecting a positive cash flow trend[33] - The total cash inflow from operating activities was ¥29,008,879.14, compared to ¥102,648,402.41 in the previous year, showing a decrease[40] - The total cash outflow for operating activities was ¥2,925,670.91, compared to ¥97,277,737.39 in the previous year, indicating a decrease[40] Assets and Liabilities - Total assets decreased by 5.14% to CNY 542,346,077.73 compared to the end of the previous year[6] - Total assets as of March 31, 2021, were CNY 513,700,235.83, down from CNY 540,251,677.82 at the end of 2020[25] - Total liabilities as of March 31, 2021, were CNY 130,874,819.81, a decrease from CNY 156,433,644.54 at the end of 2020[25] - Shareholders' equity as of March 31, 2021, was CNY 382,825,416.02, slightly down from CNY 383,818,033.28 at the end of 2020[25] Shareholder Information - The total number of shareholders at the end of the reporting period was 3,559[13] - The largest shareholder, Shenzhen Zhengxin Tongchuang Investment Development Co., Ltd., held 27.00% of the shares[13] Cost Management - Operating costs fell by 56.89% to ¥28,070,874.49, reflecting the same strategy of concentrating on high-margin clients[16] - Sales expenses dropped by 80.40% to ¥875,604.67, mainly due to changes in revenue recognition standards[16] - Management expenses decreased by 42.35% to ¥3,347,577.25, reflecting enhanced cost control measures during the reporting period[16] - The total operating expenses for Q1 2021 were CNY 23,036,688.09, down from CNY 97,277,737.39 in Q1 2020, reflecting cost control measures[33] Other Financial Metrics - The weighted average return on net assets improved by 1.86 percentage points to -1.21%[6] - The company recognized non-recurring gains of CNY 737,579.78 during the reporting period[10] - The company reported other income of CNY 14,324.31 in Q1 2021, compared to CNY 402,775.00 in Q1 2020, indicating a decline in other income sources[30] - The impact of exchange rate changes on cash and cash equivalents was a decrease of ¥12,063.13[41] Research and Development - The company incurred research and development expenses of CNY 2,594,909.48 in Q1 2020, which were not reported in Q1 2021, suggesting a potential shift in R&D strategy[30] Financing Activities - The total cash inflow from financing activities was ¥100,000,000.00, with cash outflows amounting to ¥52,373,034.92, resulting in a net cash flow of -¥11,049,308.32[40] - The company received ¥70,000,000.00 from borrowings during the financing activities, which contributed to the cash inflow[40] - The company paid ¥40,000,000.00 in debt repayments during the financing activities[40]

Financial Performance - Revenue for the period from January to September decreased by 26.35% to CNY 238,752,834.92 compared to the same period last year[5]. - Net profit attributable to shareholders was a loss of CNY 35,779,752.51, compared to a loss of CNY 9,075,026.20 in the same period last year[5]. - Basic and diluted earnings per share were both -CNY 0.48, compared to -CNY 0.12 in the same period last year[6]. - The weighted average return on net assets decreased by 7.04 percentage points to -8.92%[6]. - The company reported a net loss of RMB 35,779,752.51, a significant decline compared to the previous year's loss of RMB 9,075,026.20[13]. - The company anticipates a potential cumulative net loss for the year due to macroeconomic factors and industry competition, which may lead to a significant decline in revenue and profit compared to the previous year[17]. - The net loss for Q3 2020 was CNY 9,694,105.38, an improvement from a net loss of CNY 15,663,402.84 in Q3 2019, indicating a reduction in losses by approximately 38.5%[32]. - The company reported a total comprehensive loss of CNY 9,694,105.38 for Q3 2020, compared to a comprehensive loss of CNY 15,663,402.84 in Q3 2019[32]. - The total operating profit for the first three quarters of 2020 was a loss of ¥35,441,260.11, which is a reduction from a loss of ¥8,976,460.85 in the same period of 2019[34]. Assets and Liabilities - Total assets decreased by 13.51% to CNY 596,653,108.46 compared to the end of the previous year[5]. - The company's current assets totaled CNY 330,389,747.38, down 20.3% from CNY 414,390,882.37 at the end of 2019[21][22]. - The total liabilities decreased to CNY 213,338,042.95, down 21.3% from CNY 270,750,760.32 at the end of 2019[23][24]. - Total liabilities amounted to CNY 145,134,176.41, while total equity was CNY 384,706,837.56 as of the end of Q3 2020[27]. - The total cash inflow from operating activities for the first three quarters was ¥260,004,260.97, down from ¥304,203,169.27 in the previous year, representing a decrease of about 14.6%[37]. - The total cash outflow for purchasing goods and services in the first three quarters of 2020 was ¥160,945,838.52, down from ¥196,752,221.82 in the same period of 2019, reflecting a decrease of 18.2%[35]. Shareholder Information - The total number of shareholders at the end of the reporting period was 4,479[11]. - The top shareholder, Shenzhen Zhengxin Tongchuang Investment Development Co., Ltd., holds 27.00% of the shares[11]. - The company's equity attributable to shareholders decreased to CNY 383,315,065.51, a decline of 8.5% from CNY 419,094,818.02 at the end of 2019[24]. Cash Flow - Operating cash flow increased by 118.62% to CNY 51,879,733.65 for the period from January to September[5]. - Cash and cash equivalents decreased by 68.02% to RMB 5,976,762.32 due to reduced accounts receivable collections and repayment of due borrowings[12]. - The cash flow from operating activities for Q3 2020 was ¥51,879,733.65, compared to ¥23,730,794.22 in Q3 2019, marking an increase of approximately 118.5%[36]. - The company received cash from borrowings amounting to ¥127,910,000.00, a decrease from ¥204,800,000.00 in the previous year, representing a decline of about 37.5%[37]. Business Strategy and Operations - The company plans to transfer its underperforming optical communication cable business to a wholly-owned subsidiary, which is expected to constitute a major asset restructuring[16]. - The company has appointed various advisory firms for the asset transfer, including financial, auditing, and legal advisors[15]. - The company has not disclosed any new product developments or market expansion strategies during the conference call[20]. - The company is focusing on cost reduction strategies, as evidenced by the significant decrease in operating costs compared to the previous year[30]. Research and Development - Research and development expenses for Q3 2020 were CNY 6,539,902.69, down from CNY 9,262,477.59 in Q3 2019, a decrease of approximately 29.4%[30]. - Research and development expenses for the first three quarters of 2020 amounted to ¥12,999,122.06, down from ¥18,665,496.58 in the same period of 2019, reflecting a 30.2% decrease[33]. Accounting and Financial Reporting - The company has implemented new revenue recognition standards effective January 1, 2020, impacting the presentation of contract assets and liabilities[42]. - The company has made adjustments to accounting policies in accordance with the revised accounting standards[45]. - The company is not applying retrospective adjustments for prior comparative data under the new revenue and leasing standards[47]. - The company has not issued an audit report for this period[47].