2018 年第一季度报告 一、 重要提示 2018 年第一季度报告 公司代码：603991 公司简称：至正股份 上海至正道化高分子材料股份有限公司 2018 年第一季度报告 1 / 12 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 8 | √适用 □不适用 2.1 主要财务数据 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 | 23,000.00 | | | 越权审批，或无正式批准文件，或 | | | | 偶发性的税收返还、减免 | | | 3 / 12 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人侯海良 、主管会计工作负责人迪玲芳 及会计机构负责人（会计主管人员） 迪玲芳保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 ...

Financial Performance - In 2017, the company achieved a net profit of ¥37,957,327.51, with a cumulative distributable profit of ¥125,240,181.18 at the end of the year[5]. - The company's operating revenue for 2017 was CNY 427,445,898.90, representing a year-on-year increase of 21.74% compared to CNY 351,112,922.27 in 2016[26]. - The net profit attributable to shareholders for 2017 was CNY 37,957,327.51, a slight increase of 1.34% from CNY 37,454,790.48 in 2016[26]. - The net cash flow from operating activities significantly decreased to CNY 473,904.95, down 97.52% from CNY 19,126,228.00 in 2016[26]. - The total assets increased by 34.77% to CNY 627,797,041.90 at the end of 2017, compared to CNY 465,821,405.71 at the end of 2016[26]. - The basic earnings per share for 2017 was CNY 0.54, a decrease of 19.40% from CNY 0.67 in 2016[27]. - The weighted average return on equity decreased by 6.93 percentage points to 9.54% in 2017 from 16.47% in 2016[27]. - The net assets attributable to shareholders increased by 87.41% to CNY 461,319,136.59 at the end of 2017, compared to CNY 246,151,633.73 at the end of 2016[26]. - The company reported a significant increase in cash and cash equivalents, reaching ¥67,780,889.13, a 379.70% increase compared to the previous year[40]. - The company’s operating revenue for the rubber and plastic products segment was approximately CNY 427.45 million, with a year-on-year decrease of 4.64% in gross profit margin at 22.69%[91]. Profit Distribution and Capital Management - The proposed profit distribution plan is to distribute ¥1 per 10 shares to all shareholders, based on a total share capital of 74,534,998 shares[5]. - The company does not plan to increase capital reserves by converting them into share capital for the year 2017[5]. - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of listing, ensuring shareholder stability[116]. - The company has established a limit on the annual transfer of shares by its directors to no more than 15% of their total holdings[116]. - The company will ensure that any income derived from non-compliance will be returned to the company within 5 days[124]. Research and Development - The company holds 70 invention patents, with 32 authorized, showcasing its strong R&D capabilities[42]. - Development expenditures rose by 136.90% to ¥1,732,476.16, reflecting increased R&D spending on nuclear power cable materials[40]. - Research and development expenses for the year amounted to CNY 20.44 million, reflecting a 6.53% increase from the previous year[53]. - The total R&D investment amounted to CNY 20,435,789.30, representing 4.78% of the operating revenue, with 45 R&D personnel[64]. - The company is actively engaged in R&D for new products and technologies to meet market demands and maintain competitive advantage[105]. Market Position and Strategy - The company is engaged in the production of advanced polymer materials, with a focus on various applications in telecommunications and electronics[14]. - The company plans to focus on expanding its market presence and enhancing product development strategies in the upcoming fiscal year[28]. - The company is strategically positioned to benefit from national policies promoting advancements in high-end equipment and new materials, which are expected to drive growth in the cable industry[73]. - The company aims to become a leading supplier of mid-to-high-end cable materials, focusing on innovation and technology to maintain a competitive edge in the market[101]. - The company is exploring potential acquisitions to strengthen its market position, with a budget of $100 million allocated for this purpose[200]. Operational Efficiency and Management - The company has implemented a smart manufacturing model, introducing advanced BUSS production lines to enhance supply capacity and product quality[50]. - The management team emphasized the importance of operational efficiency to sustain profitability in a challenging market environment[179]. - The company has established a competitive salary system to attract and retain core technical personnel, although risks of talent loss remain due to industry competition[105]. - The company has implemented a performance evaluation system for middle and senior management, linking it to compensation decisions[195]. - The company has established a strong governance structure with a mix of experienced professionals in leadership roles[184]. Risks and Challenges - The report includes a risk statement regarding future plans and development strategies, emphasizing the importance of investor awareness of investment risks[6]. - The company acknowledges the risk of raw material price fluctuations impacting operational stability, despite efforts to manage costs through inventory and production optimization[106]. - The company faces potential market development risks due to downstream clients extending their supply chains and producing some materials in-house[108]. - The overall industry faces challenges such as low concentration and disordered competition, which the company aims to address through innovation and structural optimization[37]. Shareholder Relations and Commitments - The company has confirmed that all commitments made by major shareholders and related parties have been strictly adhered to during the reporting period[116]. - The company has committed to avoiding related party transactions to protect the interests of shareholders and ensure compliance with legal regulations[121]. - The company will notify and announce any intended share reductions three trading days in advance[124]. - The company will ensure transparent information disclosure and maintains communication with shareholders, particularly minority shareholders[196]. Future Outlook - The company provided guidance for Q4 2023, expecting revenue between $1.3 billion and $1.4 billion, representing a growth of 10% to 15%[200]. - New product launches are anticipated to contribute an additional $200 million in revenue over the next fiscal year[200]. - Market expansion plans include entering two new international markets by Q2 2024, projected to increase user base by 30%[200]. - Future guidance suggests a continued upward trend in revenue, with expectations of further growth in user base and market share[180].

2017 年第三季度报告 公司代码：603991 公司简称：至正股份 上海至正道化高分子材料股份有限公司 2017 年第三季度报告 1 / 13 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 5 | | 四、 | 附录 | 8 | 2017 年第三季度报告 一、 重要提示 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 | 股东总数（户） | | | | | | 11,433 | | --- | --- | --- | --- | --- | --- | --- | | | | | 前十名股东持股情况 | | | | | 股东名称 | 期末持股数 | 比例(%) | 持有有限售条 | 质押或冻结情况 | | 股东性质 | | （全称） | 量 | | 件股份数量 | 股份状态 | 数量 | | | 上海至正企业发展 | 33,456,080 | 44.89 | 33,456,080 | 质押 | 25,000,000 | 境内非国有 | | 有限公司 | | | | | | ...

Financial Performance - The company's operating revenue for the first half of 2017 was ¥149,472,617.75, a decrease of 3.92% compared to ¥155,572,655.98 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was ¥13,442,880.64, down 0.93% from ¥13,569,556.80 in the previous year[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥12,762,880.64, an increase of 0.28% from ¥12,726,734.63 in the same period last year[17]. - Basic earnings per share decreased by 12.50% to CNY 0.21 compared to the same period last year[18]. - Diluted earnings per share also decreased by 12.50% to CNY 0.21 compared to the same period last year[18]. - Weighted average return on equity fell by 2.36 percentage points to 3.94%[18]. - The company achieved a revenue of CNY 149.47 million, a decrease of 3.92% compared to the previous year[41]. - The net profit attributable to shareholders was CNY 13.44 million, with a net asset value of CNY 436.80 million[39]. Cash Flow and Assets - The net cash flow from operating activities was ¥11,710,321.74, a significant increase of 328.59% compared to a negative cash flow of -¥5,122,955.52 in the previous year[17]. - Cash and cash equivalents increased significantly to ¥83,887,836.46, representing 14.96% of total assets, a 494% increase compared to the previous period[45]. - Total assets at the end of the reporting period were ¥560,577,690.17, reflecting a growth of 20.34% compared to ¥465,821,405.71 at the end of the previous year[17]. - The company's total equity at the end of the period was ¥436,804,689.72, showing growth from the previous period[114]. - The company reported a comprehensive income total of ¥13,442,880.64 for the current period, contributing to the increase in total equity[114]. Research and Development - The company applied for 58 invention patents during the reporting period, with 31 patents granted[32]. - Research and development expenses decreased by 8.32%, totaling CNY 8.91 million[42]. - The company aims to develop high-performance polymer materials to meet the increasing demands of the power, nuclear, and information industries[28]. - The company emphasizes the need for timely R&D to keep up with industry developments to maintain competitive advantage[51]. Market and Industry - The company focuses on the research, production, and sales of environmentally friendly polymer materials for wire and cable applications[24]. - The market for high-performance environmentally friendly cable materials is expected to grow significantly, with a focus on replacing imports[28]. - The industry is characterized by many small-scale enterprises with varying technology levels, leading to unregulated competition[29]. - The demand for communication optical cables has been increasing annually since the implementation of the "12th Five-Year Plan," gradually replacing communication cables in data transmission applications[53]. Financial Management and Strategy - The company aims to optimize internal cost management and implement a cost leadership strategy to increase market share[40]. - The company’s financial expenses decreased by 63.04% due to the repayment of maturing loans[42]. - The company has established strict quality control standards and has passed ISO9001-2008 certification, ensuring product reliability and minimizing risks associated with product quality issues[54]. Risks and Challenges - The company faces risks related to technology leakage and loss of core technical personnel, which could impact its R&D capabilities[50]. - The company is exposed to raw material price fluctuations, with raw materials constituting approximately 90% of production costs[52]. - There is a risk that downstream cable manufacturers may increasingly adopt self-supply of cable polymer materials, which could impact the company's market development[54]. - The company's small operational scale poses a risk to its stability and ability to withstand adverse changes in the external business environment[55]. Shareholder and Corporate Governance - The company has committed to not engaging in any competitive activities that may conflict with its main business operations, both domestically and internationally[61]. - The company will notify the shareholders immediately if any new business opportunities arise that may compete with its main business[63]. - The company has pledged to provide priority rights to shareholders for any assets or businesses that may compete with its main business[64]. - The company committed to avoiding related party transactions to protect the interests of non-related shareholders[65]. - The company appointed Lixin Accounting Firm as the auditor for the 2017 fiscal year, approved by the 2016 annual shareholders' meeting[78]. - There were no significant lawsuits or arbitration matters during the reporting period[79]. Accounting and Financial Reporting - The financial statements are prepared in accordance with the enterprise accounting standards, reflecting the company's financial position and operating results accurately[124]. - The company’s accounting period runs from January 1 to December 31 each year[125]. - The company’s accounting currency is RMB[127]. - The company recognizes financial assets at fair value minus transaction costs upon acquisition, with subsequent measurement at amortized cost for other financial liabilities[133]. - The company confirmed revenue recognition for product sales upon delivery and customer acceptance, ensuring reliable measurement of sales amounts[169].

Financial Performance - Operating revenue for the period was CNY 68,382,277.85, representing a 10.96% increase year-on-year[6] - Net profit attributable to shareholders was CNY 4,974,644.58, an increase of 11.59% compared to the same period last year[6] - Basic earnings per share rose to CNY 0.10, reflecting an 11.11% increase from CNY 0.09 in the previous year[6] - Revenue for the current period reached ¥68,382,277.85, an increase of 10.3% compared to ¥61,628,832.14 in the previous period[25] - Operating profit was ¥5,852,523.04, up from ¥5,301,370.49, reflecting a growth of 10.4%[25] - Net profit increased to ¥5,669,896.13, compared to ¥4,778,553.79, marking a rise of 18.6%[25] - Total profit for the current period was ¥6,670,466.04, an increase of 18.6% from ¥5,621,827.99[25] Asset and Equity Growth - Total assets increased by 23.21% to CNY 573,953,671.46 compared to the end of the previous year[6] - Net assets attributable to shareholders increased by 74.80% to CNY 430,283,647.74 compared to the end of the previous year[6] - Cash and cash equivalents increased to ¥92,872,845.10 from ¥14,129,968.85, a growth of 557.28% primarily due to funds raised from the public offering[13] - Owner's equity increased to ¥430,283,647.74 from ¥246,151,633.73, showing a strong improvement in the company's net worth[23] Cash Flow Analysis - The net cash flow from operating activities was negative at CNY -38,685,390.14, a decline of 135.00% compared to the previous year[6] - Cash flow from operating activities showed a net outflow of ¥38,685,390.14, worsening from a net outflow of ¥16,461,564.84 in the previous period[26] - Net cash flow from investing activities was negative at -¥21,908,599.72, an increase of 258.45% from -¥6,111,969.55, primarily due to investments in plant and equipment[16] - The company experienced a net cash outflow from investing activities of ¥21,908,599.72, compared to a smaller outflow of ¥6,111,969.55 in the previous period[27] - Net cash flow from financing activities increased to ¥141,677,866.11 from ¥27,073,030.52, a growth of 423.32% mainly due to the public offering[16] Shareholder Information - The total number of shareholders reached 19,566 by the end of the reporting period[11] - The largest shareholder, Shanghai Zhizheng Enterprise Development Co., Ltd., held 44.89% of the shares[11] Other Financial Metrics - The weighted average return on net assets increased by 0.88 percentage points to 2.28%[6] - Accounts receivable decreased by 78.56% to ¥12,010,121.78 from ¥56,009,774.79, mainly due to the collection of matured notes and payment for goods[13] - Prepayments rose by 437.53% to ¥47,810,164.44 from ¥8,894,409.26, attributed to increased advance payments for raw materials[13] - Management expenses increased by 53.08% to ¥7,866,776.61 from ¥5,138,907.14, primarily due to higher R&D investments and employee benefits[15] - Non-recurring gains and losses amounted to CNY 695,251.55 after tax adjustments[9] - The company reported a significant increase in sales revenue from cash received for goods sold, totaling ¥100,338,624.88, compared to ¥87,808,310.46 in the previous period[26]