Financial Performance - The company's revenue for Q3 2021 reached ¥159,442,310.40, representing a year-over-year increase of 54.81%[5] - Net profit attributable to shareholders for Q3 2021 was ¥46,000,444.21, up 44.84% compared to the same period last year[5] - Year-to-date revenue as of Q3 2021 totaled ¥493,920,209.10, reflecting a significant increase of 110.09% year-over-year[5] - Year-to-date net profit attributable to shareholders reached ¥148,080,884.61, marking a 113.46% increase compared to the previous year[5] - Basic earnings per share for Q3 2021 were ¥0.48, an increase of 14.29% year-over-year[6] - The company's gross profit for the first three quarters of 2021 was RMB 205,361,296.39, compared to RMB 102,182,917.10 in the previous year, indicating a gross margin improvement[19] - The net profit for Q3 2021 was CNY 150,419,789.56, a significant increase from CNY 70,380,958.63 in Q3 2020, representing a growth of approximately 113%[20] - The total profit for Q3 2021 was CNY 174,770,989.42, compared to CNY 81,935,556.86 in Q3 2020, reflecting an increase of approximately 113%[20] Assets and Equity - Total assets at the end of Q3 2021 amounted to ¥1,220,079,332.67, a 134.60% increase from the previous year[6] - Shareholders' equity attributable to the company reached ¥1,113,970,056.02, up 131.15% year-over-year[6] - As of September 30, 2021, the total assets of the company amounted to RMB 1,220,079,332.67, up from RMB 520,065,051.68 at the end of 2020, reflecting a growth of approximately 134.0%[17] - The total equity of the company reached RMB 1,113,970,056.02 as of September 30, 2021, compared to RMB 481,922,445.40 at the end of 2020, representing an increase of approximately 131.0%[17] Cash Flow - The cash flow from operating activities showed a significant decline of 97.79% year-to-date, primarily due to increased prepayments for raw materials[10] - Cash flow from operating activities for the first three quarters of 2021 was CNY 827,739.28, a decrease from CNY 37,454,700.05 in the same period of 2020[22] - The company’s total cash inflow from operating activities was CNY 418,658,448.80 in the first three quarters of 2021, compared to CNY 224,727,305.69 in the same period of 2020, showing a growth of approximately 86%[21] - Cash and cash equivalents as of September 30, 2021, were RMB 544,575,603.78, a significant increase from RMB 116,425,086.30 at the end of 2020, indicating a growth of approximately 367.0%[15] - Cash and cash equivalents at the end of Q3 2021 totaled CNY 544,575,603.78, a significant increase from CNY 101,520,013.77 at the end of Q3 2020[22] Liabilities - The company's total liabilities as of September 30, 2021, were RMB 106,109,276.65, compared to RMB 38,142,606.28 at the end of 2020, indicating an increase of about 178.0%[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 7,533[12] Research and Development - Research and development expenses for the first three quarters of 2021 totaled RMB 15,482,232.74, which is a 113.5% increase from RMB 7,267,632.51 in the same period of 2020[19] Financing Activities - The company raised CNY 512,354,000.00 from financing activities in Q3 2021, compared to CNY 1,000,000.00 in Q3 2020, indicating a substantial increase in financing[22] Other Information - The company has not disclosed any new product launches or technological developments in the provided content, focusing instead on financial performance metrics[15] - There are no significant mergers or acquisitions reported in the current financial period, as indicated in the content provided[15] - The company reported a non-recurring gain of ¥2,279,955.17 for Q3 2021, contributing to the overall profit[10] - The company experienced a credit impairment loss of CNY -5,749,197.14 in Q3 2021, compared to CNY -2,239,366.40 in Q3 2020, indicating a worsening in credit quality[20]

Financial Performance - The company achieved operating revenue of RMB 334.48 million, a 153.19% increase compared to the same period last year[17]. - The net profit attributable to shareholders reached RMB 102.48 million, reflecting a 164.71% growth year-on-year[17]. - The basic earnings per share increased to RMB 1.23, up 136.54% from the previous year[18]. - The weighted average return on equity was 14.77%, an increase of 5.24 percentage points compared to the same period last year[18]. - Total assets at the end of the reporting period were RMB 1,122.41 million, a 115.82% increase from the end of the previous year[18]. - The net cash flow from operating activities was RMB 4.15 million, a decrease of 85.63% compared to the same period last year[19]. - The net assets attributable to shareholders increased to RMB 1,066.03 million, a 121.20% rise from the end of the previous year[18]. - The gross profit margin was 6.0%, a decrease of 7.2 percentage points year-on-year[37]. - Research and development expenses increased by 82.48% to 9.28 million RMB, reflecting a focus on innovation[49]. - The company reported a comprehensive income total of CNY 102,481,383.38 for the first half of 2021[137]. Revenue and Growth Drivers - The company attributed revenue and profit growth to a significant increase in the sales of airtight materials during the reporting period[19]. - The export value of industrial textiles reached 3.5 billion USD, a year-on-year increase of 38.0%[37]. - The company plans to implement projects such as the "450 million square meters of filament base cloth construction project" to strengthen its core competitiveness[47]. Research and Development - The company has established a high-level R&D team, focusing on independent research and development in plastic composite materials, particularly airtight materials[35]. - The company holds 21 core technology patents, including 11 invention patents, enhancing its competitive edge[39]. - The company is enhancing product research and technological innovation, aiming to improve existing production processes and explore new product applications to create additional profit growth points[59]. Production and Sales Strategy - The company specializes in the research, production, and sales of plastic composite materials, with main products categorized into airtight materials and flexible materials[24]. - Key products include air-tight materials such as filament air cushion materials and inflatable yacht materials, which are used in sports and leisure applications[25]. - The company employs a procurement model that ensures a safety stock of one to two months for key raw materials, optimizing costs through centralized purchasing[31]. - The production model is primarily self-manufactured, with a focus on "production based on sales" to meet short delivery times for customers[32]. - The sales strategy includes direct sales to downstream customers and participation in various domestic and international trade shows to enhance market presence[34]. Financial Position and Assets - Cash and cash equivalents increased by 379.58% to ¥558,349,657.97, representing 49.75% of total assets, primarily due to funds raised from public offerings[51]. - Accounts receivable rose by 63.25% to ¥217,301,748.99, accounting for 19.36% of total assets, driven by increased operating revenue[51]. - Inventory increased by 40.32% to ¥84,170,031.97, making up 7.50% of total assets, due to higher raw material purchases and increased orders[51]. - Contract liabilities grew by 91.05% to ¥1,680,171.46, representing 0.15% of total assets, mainly due to an increase in advance payments received[51]. - The company’s fixed assets increased by 15.95% to ¥107,412,172.92, representing 9.57% of total assets[51]. Risks and Challenges - The company faces risks from market competition, particularly in the production of air-tight materials and flexible materials, which could impact revenue and profit[56]. - The company is exposed to risks from fluctuations in raw material prices, which significantly affect production costs[58]. - The company faces risks related to product substitution if it cannot timely update production processes and technology standards according to market demands[60]. - High research and development costs in the plastic composite materials industry may adversely affect profitability if substantial results are not achieved[60]. - The company has implemented varying credit policies based on customer cooperation duration and transaction amounts, which may lead to increased accounts receivable and cash flow risks[60]. Shareholder Commitments and Governance - The company has committed to a share lock-up period of 36 months from the date of its IPO, during which shareholders cannot transfer or manage their shares[80]. - Shareholders are restricted from selling more than 25% of their total shares held annually while serving as directors or senior management, with additional restrictions on buying and selling within specified timeframes[77]. - The company has established a long-term commitment to avoid conflicts of interest and related party transactions[76]. - The commitments made by shareholders are designed to ensure stability and confidence in the company's stock post-IPO[80]. - The company has received commitments from major shareholders to adhere to these restrictions, reinforcing governance and compliance measures[80]. Accounting and Financial Reporting - The financial report indicates that the company adheres to the accounting standards and accurately reflects its financial status and operating results[143]. - The company has no significant doubts regarding its ability to continue as a going concern for the next 12 months[142]. - The company’s financial statements are prepared based on the principle of continuous operation[141]. - The company has established specific accounting policies for financial instruments, fixed asset depreciation, and revenue recognition[142]. - The company recognizes dividends from equity instruments as profit or loss, while other gains or losses are recorded in other comprehensive income[151]. Lease and Taxation - The company does not apply expected credit loss measurement for certain financial instruments, including long-term receivables and debt investments[165]. - The main tax rates applicable include a 5% and 13% VAT, a 15% corporate income tax, and a 12% property tax on rental income[200]. - The company does not have any tax incentives applicable at this time[200].