证券代码：605183 证券简称：确成股份 公告编号：2023-044 确成硅化学股份有限公司 关于召开 2022 年度暨 2023 年第一季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 06 月 19 日(星期一) 至 06 月 27 日(星期二)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 ir@quechen.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。 确成硅化学股份有限公司（以下简称"公司"）已于 2023 年 4 月 20 日、2023 年 4 月 29 日发布公司 2022 年度报告以及 2023 年一季度报告，为便于广大投资 者更全面深入地了解公司 2022 年度以及 2023 年一季度经营成果、财务状况，公 司计划于 2023 年 06 月 28 日 下午 14:00-15:00 举行 2022 年度暨 2023 年第一 季度业绩说明会，就投资者关心的问题进行交流。 一、 说明会类型 本次投 ...

Revenue and Profit - Revenue for the first quarter of 2023 was 415.15 million yuan, a decrease of 5.85% compared to the same period last year[4] - Net profit attributable to shareholders of the listed company was 83.99 million yuan, an increase of 0.33% year-on-year[4] - Total operating revenue for Q1 2023 was 415,148,117.97 yuan, a decrease from 440,929,402.69 yuan in Q1 2022[53] - Operating costs for Q1 2023 were 337,712,525.70 yuan, down from 347,754,165.55 yuan in Q1 2022[53] - Comprehensive income for the parent company owners totaled 8,360,339,361 yuan, with a slight increase compared to the previous period[44] - The company's basic and diluted earnings per share remained stable at 0.20 yuan per share[44] Cash Flow - Net cash flow from operating activities increased by 13.36% to 115.63 million yuan[4] - Net cash flow from operating activities increased to 115,625,201.97 yuan in Q1 2023, up from 101,999,725.29 yuan in the previous period[54] - Net cash flow from financing activities significantly improved to 29,152,853.57 yuan, compared to a negative 3,491,419.32 yuan in the previous period[47] - Investment activities resulted in a net cash outflow of 467,323,361.68 yuan, a significant increase from 87,429,039.14 yuan in the previous period[54] Assets and Liabilities - Total assets at the end of the reporting period were 3.11 billion yuan, an increase of 0.58% compared to the end of the previous year[4] - Other current assets increased by 83.18%, mainly due to the addition of 80 million yuan in short-term brokerage income certificates and 200 million yuan in short-term foreign currency time deposits[7] - Short-term borrowings increased by 149.59%, primarily due to an additional 30 million yuan in short-term loans[7] - The company's monetary funds decreased from 596,298,702.73 at the end of 2022 to 271,316,629.62 at the end of Q1 2023[39] - Short-term borrowings increased from 20,140,000.00 at the end of 2022 to 50,267,434.00 at the end of Q1 2023[41] - Accounts payable decreased from 223,868,484.32 at the end of 2022 to 214,159,385.90 at the end of Q1 2023[41] - Total liabilities decreased from 430,883,354.03 at the end of 2022 to 364,307,400.31 at the end of Q1 2023[41] - The company's share capital remained stable at around 417,400,100.00 from the end of 2022 to the end of Q1 2023[41] - Total current assets decreased slightly to 1,975,247,818.80 from 1,997,224,180.20[58] - Total non-current assets increased to 1,131,280,370.90 from 1,091,461,101.91[58] - Total assets remained relatively stable at 3,106,528,189.70 compared to 3,088,685,282.11[58] - Accounts receivable decreased to 455,139,797.29 from 517,214,979.36[58] - Other current assets increased significantly to 628,308,550.40 from 342,996,255.07[58] - Fixed assets increased to 633,402,545.57 from 623,638,784.52[58] - Construction in progress increased to 327,104,395.06 from 292,483,753.06[58] - Long-term equity investments slightly decreased to 7,114,317.17 from 7,241,844.10[58] - Deferred tax assets increased to 19,428,038.09 from 18,409,707.16[58] - Other non-current assets decreased to 28,649,499.11 from 33,574,040.44[58] Expenses and Investments - Management expenses rose by 60.55%, driven by increased greening costs at the headquarters and depreciation expenses from production line upgrades at a subsidiary[7] - R&D expenses for Q1 2023 decreased to 12,884,623.09 yuan from 15,758,178.93 yuan in Q1 2022[53] - Non-recurring gains and losses amounted to 8.62 million yuan, including government subsidies of 3.93 million yuan and investment income of 3.29 million yuan[5] - The company's monetary funds decreased by 54.50%, primarily due to new foreign currency time deposits and short-term securities purchases[56] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 12,328[23] - The largest shareholder, 華威國際發展有限公司, holds 247,837,590 shares, representing 59.38% of the total shares[23] - The second-largest shareholder, 阙成桐, holds 17,770,080 shares, representing 4.26% of the total shares[23] - The third-largest shareholder, 陈小燕, holds 13,485,550 shares, representing 3.23% of the total shares[23] Other Financial Metrics - The weighted average return on equity (ROE) was 3.11%, a decrease of 0.22 percentage points[4] - The company's capital reserve stood at 811.04 million yuan, with a slight decrease in treasury stock to 42.25 million yuan[14] - Cash received from selling goods and providing services in Q1 2023 was 417,257,479.48, a 35.5% increase compared to 307,954,060.14 in Q1 2022[32]

Investment and Financial Performance - The company holds a 25% stake in Wuxi Cuichun Biological Materials Technology Co., Ltd. as part of its investment strategy[2]. - The total assets at the beginning of the period were CNY 248,558,197.60, with a year-end total of CNY 205,022,900, reflecting a fair value loss of CNY 3,535,297.60[3]. - The company achieved actual returns of CNY 651.61 from foreign exchange derivatives and CNY 472,900 from commodity derivatives in the reporting period[4]. - The company aims for a 25% increase in revenue for 2023, with net profit also targeted to grow by 25%[12]. - The company plans to invest CNY 400 million in fundraising projects and CNY 200 million in capital expenditures from its own funds[12]. - The total amount of guarantees during the reporting period (excluding guarantees to subsidiaries) was CNY 27,858,400.00, which accounts for 1.05% of the company's net assets[50]. - The company provided guarantees totaling CNY 101,404,797.73 to subsidiaries during the reporting period[50]. - The company has no overdue guarantees that may incur joint liability for repayment[50]. - The company has entrusted financial management with a total amount of CNY 36,500,000, with an outstanding balance of CNY 20,500,000[53]. - The annualized return rates for bank financial products range from 1.80% to 4.13%[53]. - The total amount of funds raised from bank deposits reached approximately 219.34 million, with a return of principal and interest confirmed[56]. - The total amount of entrusted loans for fundraising projects is ¥129,071,633.02, with the same amount as the outstanding balance[181]. - The total number of shares is 417,587,900, with a decrease of 131,000 shares due to the repurchase and cancellation of shares from departing employees[187][190]. - The company plans to distribute a cash dividend of 2.5 yuan per 10 shares to all eligible shareholders, based on the total share capital as of the dividend record date[195]. Production and Capacity Expansion - The company is actively expanding production capacity and exploring new materials to reduce carbon footprints beyond silica[8]. - The silica microsphere project has completed initial customer samples, aiming to break foreign chemical companies' technology monopolies[11]. - The company reported a wastewater treatment capacity of 3,200 tons per day for its second-phase facility, operating normally[103]. - The company is constructing a project with an annual production capacity of 70,000 tons of water glass and 75,000 tons of high-dispersion silica for green tires, which is currently under development[133]. - The company has implemented a coal-to-gas project in its subsidiary, marking a significant step in energy efficiency and environmental protection[136]. - The company has a diverse geographical production base, reducing delivery risks and ensuring strong supply capabilities[149]. Research and Development - The company is enhancing its R&D capabilities by establishing domestic and international R&D centers and collaborating with top universities and research institutes[11]. - The company has established a new materials technology research institute to enhance R&D capabilities and core competitiveness[180]. - The company is focusing on the development of advanced materials, including superconductors and graphene, to stay ahead in the market[179]. Environmental Compliance and Sustainability - The actual discharge of chemical oxygen demand (COD) was 13.27527 mg/L, well below the limit of 40 mg/L, indicating compliance with environmental standards[108]. - The company has developed a technology that uses biomass (rice husks) instead of natural gas as fuel, significantly reducing CO2 emissions[117]. - The company received the "Environmental Integrity Enterprise" title in Anhui province in 2022[121]. - The company achieved a bronze rating from EcoVadis, an international CSR evaluation organization, in 2022[122]. - The company’s desulfurization and denitrification systems have an efficiency of over 95% and 75% respectively, operating normally[112]. - The company’s wastewater treatment facilities have a total capacity of 3,000 tons per day, functioning normally[112]. - The company’s air pollution control systems are designed to meet stringent emission standards, with actual emissions of sulfur dioxide at 4.17 mg/m3 against a limit of 400 mg/m3[112]. - The company has implemented strict control measures for waste and noise to ensure compliance with national and local regulations[116]. - The company invested 15.58 million yuan in environmental protection during the reporting period[129]. - The company has established mechanisms for environmental protection and is committed to maintaining compliance with relevant regulations[129]. Corporate Governance and Management - The company has implemented a governance structure that complies with relevant laws and regulations, ensuring the protection of shareholder rights[16]. - The company’s supervisory board consists of 3 members, including 1 employee supervisor, complying with legal requirements[26]. - The company’s board of directors has established specialized committees, including an audit committee and a nomination committee[42]. - The company’s board of directors and senior management remuneration is determined based on performance evaluation results[33]. - The company has a structured assessment and incentive system for directors and senior management, focusing on financial performance and business innovation capabilities[97]. - The company has maintained effective internal control over financial reporting, with no significant deficiencies identified during the reporting period[97]. - The company has developed a subsidiary management system to enhance oversight and governance of its subsidiaries[98]. - The company has a clear compensation management system that aligns employee remuneration with their contributions and local cost of living[84]. Employee and Workforce Management - The total number of employees in the parent company and major subsidiaries is 691, with 519 in production roles and 86 in technical positions[67]. - The employee education level includes 3 with doctoral degrees, 15 with master's degrees, and 110 with bachelor's degrees, indicating a well-educated workforce[67]. - The company has implemented a comprehensive training program for employees at different levels to enhance organizational performance[84]. Shareholder Relations and Communication - The company engaged in investor relations activities through various channels, including strategy meetings and performance briefings[27]. - The company approved the 2022 Q1 report during the board meeting on April 27, 2022[24]. - The company approved the 2022 semi-annual report and the special report on the use of raised funds during the board meeting on August 18, 2022[24]. - All resolutions regarding the 2022 quarterly reports were passed unanimously[46][47][48]. - The company emphasizes that forward-looking statements regarding future plans and strategies do not constitute a commitment to investors, highlighting the importance of investment risk awareness[195].

Group 1: Company Overview and Industry Situation - The company primarily operates in the silicon chemical industry, focusing on high-dispersion silica products [1] - In 2021, overseas sales accounted for approximately 46.4% of total silica revenue, with about 90% settled in USD [3] Group 2: Impact of COVID-19 - COVID-19 affected production due to temporary lockdown measures, impacting personnel shifts and logistics [1] - By mid-April 2022, production began to normalize, while logistics challenges persisted longer [1] Group 3: Financial Performance - The gross profit margin saw a decline in Q1 2022 due to rising raw material costs, particularly natural gas and coal [2] - The company expects the overall gross profit margin for 2022 to remain above historical levels [2] Group 4: Production Capacity and Utilization - Current production capacity totals 330,000 tons, with ongoing projects expected to add 75,000 tons by the end of 2023 [3] - The utilization rate of the high-dispersion silica production lines is currently high, with improvements expected from the Thai factory [3] Group 5: Future Expansion Plans - Plans include expanding production capacity in Thailand and exploring new domestic opportunities [4] - The company aims to enhance its global presence, particularly in Europe, and is actively pursuing high-value product development [4] Group 6: Innovation and New Applications - The company has applied for 7 invention patents in 2021 and has made progress in developing new silica applications [6] - New products in fields like silicone rubber and oral care are expected to see volume growth depending on customer certification progress [6]

Revenue and Profit Growth - Revenue for the third quarter was RMB 443.89 million, a year-on-year increase of 33.92%[7] - Net profit attributable to shareholders of the listed company was RMB 110.36 million, a year-on-year increase of 63.17%[7] - Total operating revenue for the first three quarters of 2022 reached 1,330,143,392.53 yuan, a 28.4% increase compared to 1,035,551,771.30 yuan in the same period of 2021[30] - Net profit attributable to the parent company's shareholders in the first three quarters of 2022 was 311,237,212.63 yuan, a 48.4% increase from 209,796,606.31 yuan in the same period of 2021[33] - Operating profit for the first three quarters of 2022 was 359,358,403.85 yuan, a 43.0% increase compared to 251,332,334.39 yuan in the same period of 2021[33] Asset and Equity Changes - Total assets at the end of the reporting period were RMB 3.01 billion, an increase of 2.76% compared to the end of the previous year[9] - Equity attributable to shareholders of the listed company was RMB 2.57 billion, an increase of 3.94% compared to the end of the previous year[9] - Total assets increased to 3,005,254,037.81 RMB as of September 30, 2022, compared to 2,924,516,188.43 RMB at the end of 2021[25] - Current assets remained stable at 1,939,636,739.25 RMB, slightly down from 1,940,311,123.30 RMB at the end of 2021[25] - Non-current assets grew to 1,065,617,298.56 RMB, up from 984,205,065.13 RMB at the end of 2021[25] - Total liabilities decreased to 439,530,760.21 RMB, down from 455,942,790.63 RMB at the end of 2021[28] - Current liabilities decreased to 438,365,326.69 RMB, down from 450,669,007.30 RMB at the end of 2021[28] - Non-current liabilities decreased significantly to 1,165,433.52 RMB, down from 5,273,783.33 RMB at the end of 2021[28] - Shareholder equity increased to 2,565,723,277.60 RMB, up from 2,468,573,397.80 RMB at the end of 2021[28] - Total equity attributable to the parent company's shareholders as of the end of the third quarter of 2022 was 2,565,723,200.81 yuan, a 3.9% increase from 2,468,573,320.76 yuan at the end of the same period in 2021[30] Earnings Per Share and Return on Equity - Basic earnings per share for the third quarter were RMB 0.27, a year-on-year increase of 65.20%[9] - Weighted average return on equity (ROE) for the third quarter was 4.38%, an increase of 1.5 percentage points year-on-year[9] - Basic earnings per share for the first three quarters of 2022 were 0.75 yuan, a 47.1% increase compared to 0.51 yuan in the same period of 2021[35] Cash Flow and Financial Expenses - Operating cash flow for the first three quarters was RMB 352.31 million, a year-on-year increase of 37.57%[7] - Financial expenses decreased by 1,001.43% due to exchange gains from RMB depreciation against the USD[13] - Financial expenses for the first three quarters of 2022 showed a net income of 81,140,691.70 yuan, compared to an expense of 9,001,346.12 yuan in the same period of 2021[30] - Sales of goods and services received cash of RMB 934,068,621.90, an increase from RMB 860,052,138.24 in the same period last year[39] - Net cash flow from operating activities increased to RMB 352,308,296.40, up from RMB 256,086,590.30 in the previous year[39] - Cash received from tax refunds rose to RMB 56,439,374.32, compared to RMB 26,197,185.79 in the same period last year[39] - Cash paid for goods and services was RMB 476,563,349.92, slightly up from RMB 469,277,571.55 in the previous year[39] - Cash received from investment activities totaled RMB 479,765,999.15, an increase from RMB 427,635,541.85 in the same period last year[39] - Cash paid for investments decreased to RMB 506,500,000.00, down from RMB 743,400,000.00 in the previous year[39] - Net cash flow from investment activities was negative RMB 164,048,942.23, an improvement from negative RMB 403,094,826.57 in the same period last year[41] - Net cash flow from financing activities was negative RMB 303,974,988.09, compared to negative RMB 207,752,006.65 in the previous year[41] - The net increase in cash and cash equivalents was negative RMB 33,422,082.98, an improvement from negative RMB 357,526,885.81 in the same period last year[41] - The ending balance of cash and cash equivalents was RMB 749,525,871.82, down from RMB 793,884,651.65 at the end of the previous year[41] Inventory and Borrowings - Inventory increased by 38.91% due to higher raw material stockpiling[13] - Short-term borrowings decreased by 86.59% due to repayment of bank loans[13] - Inventory increased to 236,008,876.33 RMB, up from 169,904,342.68 RMB at the end of 2021[25] Research and Development - Research and development expenses for the first three quarters of 2022 were 46,369,870.85 yuan, a 23.7% increase compared to 37,493,582.48 yuan in the same period of 2021[30] Comprehensive Income and Investment - Total comprehensive income for the first three quarters of 2022 was 318,317,896.91 yuan, a 74.8% increase from 182,128,669.64 yuan in the same period of 2021[35] - Investment income for the first three quarters of 2022 was 15,711,633.67 yuan, a significant increase from 857,416.13 yuan in the same period of 2021[33] Monetary Funds and Accounts Receivable - Monetary funds decreased to 759,367,363.33 RMB, down from 790,369,237.95 RMB at the end of 2021[22] - Accounts receivable decreased to 491,291,804.65 RMB, down from 503,747,418.85 RMB at the end of 2021[25]

Financial Performance - The company's revenue for Q1 2022 was RMB 440,929,402.69, representing a year-on-year increase of 30.30%[5] - Net profit attributable to shareholders was RMB 83,719,714.93, reflecting a growth of 24.95% compared to the same period last year[5] - Basic and diluted earnings per share were both RMB 0.20, an increase of 25.00% year-on-year[5] - Total operating revenue for Q1 2022 was RMB 440,929,402.69, an increase of 30.3% compared to RMB 338,395,298.18 in Q1 2021[26] - Operating profit for the first quarter of 2022 reached CNY 92,981,263.88, up from CNY 77,764,764.82 in the first quarter of 2021, reflecting a growth of 19.5%[32] - The company reported a total comprehensive income of CNY 84,545,849.27 for the first quarter of 2022, compared to CNY 58,918,203.75 in the first quarter of 2021, marking an increase of 43.5%[32] Cash Flow and Assets - The net cash flow from operating activities decreased by 3.59% to RMB 101,999,725.29[5] - Current assets totaled RMB 2,025,383,764.88 as of March 31, 2022, compared to RMB 1,940,311,123.30 at the end of 2021, representing an increase of 4.4%[20] - Non-current assets amounted to RMB 1,007,488,907.69 as of March 31, 2022, compared to RMB 984,205,065.13 at the end of 2021, showing a growth of 2.5%[24] - The company's cash and cash equivalents stood at RMB 798,761,017.81, slightly up from RMB 790,369,237.95 at the end of 2021[20] - Cash flow from operating activities for the first quarter of 2022 was CNY 101,999,725.29, slightly down from CNY 105,793,529.47 in the first quarter of 2021[36] - The cash and cash equivalents at the end of the first quarter of 2022 amounted to CNY 789,972,914.81, a decrease from CNY 819,507,508.97 at the end of the first quarter of 2021[36] Liabilities and Equity - Total liabilities were RMB 479,255,715.40, compared to RMB 455,942,790.63 at the end of 2021, reflecting an increase of 5.1%[26] - The company’s total liabilities decreased to CNY 1,200,000,000.00 in the first quarter of 2022, down from CNY 1,500,000,000.00 in the same period of 2021, indicating a reduction of 20%[36] - The weighted average return on equity increased by 0.57 percentage points to 3.33%[5] Research and Development - Research and development expenses rose by 38.31% due to increased investment in R&D equipment and materials[9] - Research and development expenses increased to CNY 15,758,178.93 in the first quarter of 2022, up from CNY 11,393,325.82 in the same period of 2021, representing a growth of 38.4%[32] Market and Future Outlook - Revenue growth was primarily driven by increased sales volume and price hikes of silica products[9] - The company plans to continue expanding its market presence and investing in new technologies to enhance product offerings[9] - Future outlook includes plans for market expansion and potential new product launches to sustain growth momentum[26] Accounting Standards - The implementation of new accounting standards began in 2022, affecting the financial statements from the start of the year[39] - The board of directors confirmed the financial report adjustments related to the new accounting standards[39] Other Financial Metrics - The company reported a significant decrease of 44.67% in accounts receivable financing, attributed to fewer bank acceptance bills received from customers[9] - Total operating costs for Q1 2022 were RMB 347,754,165.55, up from RMB 259,780,686.99 in Q1 2021, reflecting a growth of 34%[26] - The company reported a net profit margin improvement, with net profit for Q1 2022 expected to reflect the growth in revenue and controlled costs[26]

Financial Performance - Revenue in 2021 increased by 42.42% year-on-year to RMB 1,502,946,503.05[21] - Net profit attributable to shareholders of the listed company in 2021 increased by 55.16% year-on-year to RMB 300,074,856.03[21] - Basic earnings per share in 2021 increased by 35.85% year-on-year to RMB 0.72[23] - Weighted average return on equity in 2021 increased by 1.08 percentage points to 12.33%[23] - Revenue in the fourth quarter of 2021 was RMB 467,394,731.75, the highest among all quarters[26] - Net profit attributable to shareholders of the listed company in the fourth quarter of 2021 was RMB 90,278,249.72, the highest among all quarters[26] - The company's total assets at the end of 2021 increased by 7.90% year-on-year to RMB 2,924,516,188.43[21] - The company's equity attributable to shareholders of the listed company at the end of 2021 increased by 2.87% year-on-year to RMB 2,468,573,320.76[21] - The company's structural deposits increased by RMB 225,000,000.00 in 2021, reaching RMB 245,000,000.00 at the end of the year[32] - The company's derivative financial assets increased by RMB 3,558,197.60 in 2021, reaching RMB 3,558,197.60 at the end of the year[32] - The company's operating cash flow increased by 5.21% year-on-year to 284.28 million yuan, while investment cash flow decreased significantly due to IPO fundraising and short-term financial investments[63][66] - The company's financial expenses decreased by 32.03% year-on-year, mainly due to reduced foreign exchange losses and lower interest expenses[66] - The company's asset scale reached 2,924.52 million yuan by the end of 2021, a year-on-year increase of 7.9%, with owner's equity of 2,468.57 million yuan[62] - Total cost for silicon dioxide products increased by 33.09% to 872,024,066.20 yuan, with material costs rising by 39.10% to 444,276,452.67 yuan[74] - The company's gross profit margin for silica products decreased by 3.49 percentage points year-on-year to 32.83%, mainly due to rising raw material and energy costs[69] - The company's international revenue reached 653.54 million yuan, a year-on-year increase of 46.74%, while domestic revenue increased by 29.18% to 753.85 million yuan[69][72] - The company's silica production volume reached 250,661 tons, a year-on-year increase of 26.87%, with sales volume increasing by 25.18% to 249,679 tons[73] - The company's R&D expenses increased by 76.35% to 57,344,153.03 yuan, with R&D investment accounting for 3.82% of total revenue[79][80] - Monetary funds decreased by 32.69% to 790,369,237.95 yuan, while trading financial assets increased by 1,142.79% to 248,558,197.60 yuan[87] - Accounts receivable increased by 59.66% to 503,747,418.85 yuan due to a 42.42% increase in revenue and longer international logistics cycles[87][88] - Inventory increased by 45.99% to 169,904,342.68 yuan due to increased raw material and finished goods stockpiles[87][88] - Construction in progress increased by 134.68% to 187,138,480.82 yuan[87] - Other payables increased by 225.57% to 40,819,232.76 yuan[87] - The company's overseas assets amounted to RMB 346,042,802.35, accounting for 11.83% of total assets[92] - Restricted assets at the end of the reporting period included RMB 1,614,637.15 in monetary funds for non-financing guarantee deposits, RMB 5,806,646.00 for bank acceptance bill deposits, RMB 245,000,000.00 in trading financial assets for structured deposits, and RMB 80,000,000.00 in other current assets for securities income certificates[92] - The company's procurement volume increased, leading to a rise in accounts payable by RMB 40.36 million, and sales volume increased, resulting in a rise in domestic and international transportation and handling fees payable by RMB 49.90 million[90] - The company's net profit increased, leading to a rise in corporate income tax payable by RMB 5.45 million[90] - The company implemented an employee equity incentive plan, resulting in a restricted stock repurchase obligation of RMB 31.06 million[90] - The Thai baht depreciated against the RMB, causing a foreign currency translation difference in the financial statements of the Thai subsidiary[90] - The company's construction-in-progress increased by RMB 54.94 million due to the progress of fundraising projects, and the Fujian subsidiary's technical renovation project increased by RMB 61.26 million[90] - The company's prepayments for office buildings and employee apartments of RMB 61.73 million were transferred to construction-in-progress[90] - The company's subsidiary, Sanming Afu, reported deductible losses formed during the reporting period[90] - The company's fundraising funds were used to purchase securities income certificates of RMB 80 million[90] - The company's current precipitated silica production capacity is 330,000 tons/year, with an additional 75,000 tons/year under construction, making it the third-largest global producer and the largest in Asia[99] - The company's main raw material, soda ash, saw a significant price increase of 72.68% year-on-year in 2021, with a procurement volume of 45,330.75 tons and a consumption volume of 59,107.50 tons[108] - Sulfur procurement volume was 56,414.56 tons, with a settlement amount of 62,780.99 tons[111] - Natural gas procurement volume was 17,381,885 m³, with a price increase of 6.68% year-over-year[112] - LNG procurement volume was 26,258.23 tons, with a significant price increase of 57.12% year-over-year[112] - Direct sales revenue reached 1,297,466,318.35 RMB, a 37.80% increase year-over-year[113] - The company's derivative financial assets amounted to 3,558,197.60 RMB, with structured deposits totaling 245,000,000.00 RMB[117] - The company aims to achieve a 25% year-over-year revenue growth in 2022, with a target of 25% net profit growth[128] - The company plans to invest 200 million RMB in fundraising projects and 50 million RMB in fixed asset investments using its own funds in 2022[128] Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 5 yuan per 10 shares (tax included) for the 2021 fiscal year[5] - The company distributed a cash dividend of RMB 207,009,000 (RMB 5 per 10 shares) for the 2020 fiscal year, based on a total share capital of 414,018,000 shares[42] - The company's cash dividend policy remained unchanged during the reporting period, ensuring the continuity and stability of the profit distribution policy[167] - The company's profit distribution policy complies with relevant regulations, ensuring the protection of small and medium-sized investors' rights and interests[168] Products and Market Position - The company's main products include precipitated silica and high-dispersible silica (HDS), which are widely used in rubber, animal feed, food, pharmaceuticals, and other industries[13] - The company's high-dispersible silica (HDS) is a specialized material used in the manufacturing of green tires, which are known for their low rolling resistance and energy efficiency[13] - The company is one of the world's leading manufacturers of precipitated silica, with a complete industrial chain from raw materials to final products[50] - The company's high-dispersion silica for green tires reduces rolling resistance by approximately 30% and saves 5-7% fuel, significantly contributing to energy conservation and CO2 emission reduction[49] - The company's products are used by 12 out of the top 15 global tire manufacturers and 4 out of the top 5 global vitamin E manufacturers[53][56] - The company is the largest exporter of silica in China, with its "Q&C" brand highly recognized by international and domestic customers[56] - The company's total silica production capacity ranks third globally, with core factories in Wuxi, Jiangsu, and overseas in Thailand, with Wuxi's single factory capacity reaching 150,000 tons, among the world's largest[61] - The company is the world's largest manufacturer of high-dispersion silica for green tires and one of the largest producers of silica for animal feed carriers[99] - The company's sales model is primarily direct sales, accounting for over 90% of total sales, with major clients including 12 of the top 15 global tire manufacturers and 4 of the top 5 global vitamin E manufacturers[100] Research and Development - The company resumed R&D work at its Anhui subsidiary in 2021, developed new silica products for various applications, and achieved progress in small-scale commercial orders, with 7 new patent applications and 2 granted patents[41] - The company plans to develop 2-3 new products or applications annually, focusing on new profit growth points and sustainable performance growth[41] - The company's R&D expenses accounted for more than 3% of its operating revenue in recent years[55] - The company has obtained 34 invention patents and 114 utility model patents, covering specialized production equipment and manufacturing technologies for silica[55] - The company's high-dispersion silica products have been certified by multiple domestic and international tire companies, with certification periods ranging from 1-1.5 years for domestic clients and 2-4 years for international clients[57] - The company's 30,000 tons/year green tire high-dispersion silica production technology won the second prize of the China Petroleum and Chemical Industry Federation Science and Technology Progress Award[55] - In 2021, the company invested 57.34 million yuan in R&D, conducted 11 research projects, and obtained 2 new invention patents and 6 utility model patents[102] - The company has accumulated 148 authorized patents, including 34 invention patents, and has led or participated in the formulation of 16 national and industry standards[102] - The company is focusing on high-value-added products and entering new application fields, with 3 new product varieties developed during the reporting period[123] Corporate Governance and Management - The company's registered address is in Jiangsu Province, China, and its office is located in the Chuangrong Building, Anzhen Street, Xishan District, Wuxi City[16] - The company's stock is listed on the Shanghai Stock Exchange under the ticker symbol 605183[18] - The company's annual report is disclosed through media outlets such as the Shanghai Securities News, China Securities Journal, Securities Times, and Securities Daily[17] - The company's financial report for 2021 has been audited by Lixin Certified Public Accountants, who issued a standard unqualified opinion[4] - The company's subsidiaries include Quechen International, Quechen Thailand, and Quechen Trade, among others[13] - The company's annual report is available for review at the office of the Board Secretary[17] - The company granted 3,569,900 restricted shares to 81 incentive recipients at RMB 8.70 per share to align interests and promote long-term development[43] - The company was awarded the "Advanced Collective in Poverty Alleviation and Assistance Cooperation" by Jiangsu Province and the "Science and Technology Progress Award" by the China Inorganic Salt Industry Association[43] - The company's direct sales account for over 90% of its total sales[51] - The company utilizes waste heat from sulfuric acid production for power generation, improving energy efficiency and reducing CO2 emissions[51][60] - The company's Thailand factory, built under the "Belt and Road" strategy, has effectively reduced logistics and international trade risks while improving international competitiveness[61] - The company established a wholly-owned subsidiary, Wuxi Quean Technology Development Co., Ltd., with a registered capital of 10 million RMB[114] - The company plans to expand overseas production capacity, including the early launch of the second phase of the Thailand plant in 2022[122] - The company's board and supervisory board terms have been extended due to the ongoing nomination process for the new board and supervisory board candidates[145] - Huang Weiyuan was appointed as Vice President on January 5, 2021[145] - The company's third board of directors and supervisory board have completed their terms, and the new board and supervisory board nominations are in progress[145] - Total remuneration for directors, supervisors, and senior management at the end of the reporting period was 4.7514 million yuan[150] - The company held 6 board meetings in 2021, with 5 being in-person and 1 via teleconference[153] - The Audit Committee held 4 meetings in 2021, reviewing financial reports, internal control evaluations, and audit arrangements[156] - The Nomination Committee held 1 meeting in 2021, approving the appointment of a new Vice President[156] - The Remuneration and Assessment Committee held 2 meetings in 2021[156] - The company's board approved 51 proposals during the 13th meeting, including the 2020 annual report and profit distribution plan[152] - The company implemented a restricted stock incentive plan in 2021, with adjustments made to the list of激励对象,授予数量, and授予价格 during the 14th board meeting[152] - The company provided委托贷款续贷 for its wholly-owned subsidiary, Sanming Afu Silicon Materials Co., Ltd.[152] - The company reviewed and approved the 2021 semi-annual report and the special report on the storage and use of raised funds during the 15th board meeting[152] - The company reviewed and approved the 2021 third-quarter report during the 16th board meeting[152] - The company adjusted the 2021 restricted stock incentive plan, reducing the number of incentive recipients from 83 to 81 and the number of restricted shares from 3.7579 million to 3.5699 million. The grant price was adjusted from 9.20 yuan per share to 8.70 yuan per share due to annual dividends[159] - The total number of employees in the parent company and major subsidiaries is 655, with 284 in the parent company and 271 in major subsidiaries. The workforce includes 496 production personnel, 8 sales personnel, 56 technicians, 16 financial personnel, and 79 administrative personnel[161] - The company's employee education levels include 2 with a doctorate, 16 with a master's degree, 113 with a bachelor's degree, 155 with an associate degree, and 369 with high school education or below[161] - The total hours of outsourced labor amounted to 403,262 hours, with a total payment of 15.7089 million yuan[166] - The company's 2021 restricted stock incentive plan granted 3.5699 million shares, increasing the total share capital to 417.5879 million shares[172] - The company's executive, Huang Weiyuan, was granted 200,000 restricted shares at a price of 8.7 yuan per share, with a market value of 3.93 million yuan at the end of the reporting period[173] - The company has established a clear performance evaluation mechanism for senior management, with four performance tiers corresponding to different unlocking ratios of restricted stock[176] - The company revised 28 internal control systems, including the rules of procedure for the three meetings, to improve the internal control system and ensure standardized execution[177] - The company manages subsidiaries through the appointment of directors, supervisors, and senior executives, ensuring standardized and efficient operations[177] - The company received a standard unqualified opinion in its internal control audit report[178] - Chairman and General Manager Que Weidong received a pre-tax remuneration of 1.1088 million yuan[145] - Director Chen Xiaoyan holds 13,485,550 shares with no change during the year and received a pre-tax remuneration of 803,400 yuan[145] - Director and CFO Wang Jin received a pre-tax remuneration of 894,900 yuan[145] - Director Wang Mengjiao received a pre-tax remuneration of 50,000 yuan[145] - Independent Directors Yu Hongmei, Xie Yumei, and Shen Xiaodong each received a pre-tax remuneration of 50,000 yuan[145] - Vice President Huang Weiyuan received 200,000 shares as equity incentive and a pre-tax remuneration of 511,900 yuan[145] - The total pre-tax remuneration for all directors, supervisors, and senior management was 4.7514 million yuan[145] Environmental and Social Responsibility - The company's chemical oxygen demand (COD) emissions were 31.83 tons, well below the national standard of 40 mg/L[180] - Ammonia nitrogen (NH3-N) emissions were 0.54 tons, significantly lower than the national standard of 5 mg/L[180] - Suspended solids emissions were 18.99 tons, below the national standard of 50 mg/L[180] - Sulfuric acid mist emissions were 0.029 tons, meeting the national standard of 10 mg/m3[180] - Particulate matter emissions were 7.98 tons, below the national standard of 10 mg/m3[180] - The company's wastewater treatment facilities have a total capacity of 5,500 tons per day, with Phase I handling 2,300 tons/day and Phase II handling 3,200 tons/day[184] - The company's exhaust gas treatment facilities can handle up to 92,000 m³/h, with 20,000 m³/h for sulfuric acid mist removal and 72,000 m³/h for particulate matter removal[184] - The company's IPO-funded project includes the construction of a 70,000-ton/year water glass and 75,000-ton/year green tire-specific high-dispersibility silica project[185] - The company has implemented a self-monitoring program for environmental compliance, covering exhaust gas, wastewater, and other emissions, with results regularly published online[189] - The company has installed advanced energy-saving equipment, including heat recovery and water reuse systems, to reduce carbon emissions and improve resource utilization[190] - The company is developing new equipment and processes for energy storage, waste heat reuse,

Group 1: Company Overview and Market Position - The company specializes in high-dispersion silica, which is primarily customized based on client specifications, with only a few companies globally mastering the core manufacturing technology [1] - Major competitors in the international market include Evonik, PPG, and Solvay, with significant market shares held by these companies [1] - The company has a high customer retention rate, with international clients typically engaging in long-term contracts [1] Group 2: Production Capacity and Utilization - The company has a total production capacity of 75,000 tons, distributed across several production bases, including Wuxi, Anhui, Thailand, and Fujian [1] - The capacity utilization rate is relatively low, particularly in the Thailand factory due to delays in customer inspections caused by the pandemic [1] - The company anticipates a significant increase in production capacity in Thailand as pandemic restrictions ease [2] Group 3: Impact of Commodity Prices - The company's products are not directly linked to crude oil prices, but rising energy costs due to natural gas price fluctuations may impact overall costs [2] - The company has a diversified energy composition, which helps manage energy cost fluctuations [2] Group 4: Future Development Strategy - The company plans to implement fundraising projects to expand production capacity and achieve self-sufficiency in raw materials [3] - There is a focus on global expansion, with the Thailand subsidiary serving as a model for future overseas investments [3] - The company aims to develop high-value-added products and enter new application fields, breaking the technological monopoly of foreign chemical companies [3] Group 5: Thailand Factory Investment and Profitability - The first phase of the Thailand factory, which produces high-dispersion silica, had an investment of $45 million, with future investments expected to be lower [3] - The operational costs in Thailand are more stable compared to domestic costs, providing a competitive advantage [3] - The company is preparing for the second phase of the Thailand factory based on the gradual release of production capacity and increasing customer demand [3]

Financial Performance - The company's operating revenue for 2020 was RMB 1,055,278,399.58, a decrease of 11.41% compared to 2019[23]. - The net profit attributable to shareholders for 2020 was RMB 193,401,395.66, down 28.32% from the previous year[23]. - The net cash flow from operating activities was RMB 270,215,534.08, reflecting a decline of 12.91% year-on-year[23]. - Basic earnings per share for 2020 were RMB 0.53, a decrease of 28.38% compared to 2019[24]. - The weighted average return on equity was 11.25%, down 6.07 percentage points from the previous year[24]. - The gross profit margin for silica products was 36.32%, a decrease of 3.82 percentage points compared to the previous year[63]. - The net profit attributable to shareholders was CNY 193,401,400, a decline of 28.32% year-on-year, primarily due to foreign exchange losses of approximately CNY 40 million[55]. - Total assets at the end of 2020 reached CNY 2,710,329,900, reflecting a year-on-year growth of 34.62%[55]. Dividend Policy - The company plans to distribute a cash dividend of 5 RMB per 10 shares to all shareholders based on the total share capital as of the dividend distribution date[8]. - The company has established a cash dividend policy, distributing at least 20% of the annual distributable profit in cash dividends[131]. - In 2020, the company distributed cash dividends amounting to RMB 207,009,000, representing 107.04% of the net profit attributable to ordinary shareholders[133]. Audit and Compliance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[7]. - The company is committed to ensuring the accuracy and completeness of the financial report[6]. - The company has not reported any instances of fund occupation or collection progress during the reporting period[149]. - The company has not experienced any significant accounting errors or changes in accounting policies that would impact its financial statements[150]. - The company has established a comprehensive internal management and control system, ensuring compliance with relevant laws and regulations, and has been recognized as one of the top ten industrial tax contributors in Xishan District in 2020[170]. Risk Management - The company has detailed risk factors related to its future development in the report[10]. - The company emphasizes that forward-looking statements do not constitute a substantive commitment to investors[9]. - The company faces risks from raw material price fluctuations, particularly sulfur and soda ash, which significantly impact production costs[120]. - The company has a comprehensive risk disclosure in the "Discussion and Analysis of Operating Conditions" section[10]. Research and Development - The company has established a research institute to enhance R&D capabilities and core competitiveness in silica products[35]. - The company has successfully developed three new products and applications during the reporting period, laying a solid foundation for future capacity release[53]. - Total R&D investment was ¥32,516,899.76, accounting for 3.08% of total operating revenue[73]. - The number of R&D personnel was 63, representing 9.60% of the total workforce[73]. - The company emphasizes technological innovation and plans to explore new energy-saving and environmentally friendly silica products[117]. Production and Capacity - The company is headquartered in Wuxi, Jiangsu Province, with a focus on silicon chemical products[19]. - The company’s total silica production capacity ranks third globally, with a core factory in Wuxi having a capacity of 150,000 tons, among the highest in the world[49]. - The company has become a leader in the domestic precipitated silica industry, maintaining a research and development investment ratio of over 3% of revenue in recent years[41]. - The company achieved a design capacity of 33,000 tons for the silica project with a capacity utilization rate of 59.87%[95]. - In May 2020, the Thailand factory commenced production, adding a capacity of 45,000 tons, and in December 2020, the Fujian factory added 55,000 tons[98]. Market and Sales - The sales model is integrated, with over 85% of sales conducted through direct sales contracts[35]. - The company’s products are recognized by major global tire manufacturers, with significant market presence in the rubber industry[43]. - The company reported a revenue of RMB 941,587,048.90 from direct sales, reflecting a decrease of 10.39% year-on-year[106]. - The company’s five largest customers accounted for 22.11% of total annual sales, while the five largest suppliers represented 34.12% of total annual purchases[69]. Environmental Responsibility - The company has implemented a green development strategy, focusing on ultra-low emissions and resource recycling, with its main products being green materials used in the production of eco-friendly tires[171]. - The company achieved a chemical oxygen demand (COD) discharge of 22.86 tons, which is below the limit of 40 mg/L, indicating compliance with environmental standards[177]. - The company has successfully reduced nitrogen oxide emissions to 2.49 tons, adhering to the limit of 200 mg/m3 as per the inorganic chemical industry pollution discharge standards[179]. - The company has committed to environmental protection by implementing clean production practices throughout its product lifecycle, effectively reducing waste and emissions[176]. Corporate Governance - The controlling shareholder, Huawei International, committed not to transfer or manage shares for 36 months post-IPO, with an automatic extension of 6 months if stock prices fall below the IPO price for 20 consecutive trading days within the first 6 months[137]. - The actual controller also agreed to similar share transfer restrictions for 36 months post-IPO, with a 6-month extension under the same conditions as above[137]. - Directors and senior management committed to not transfer shares for 12 months post-IPO, with a 6-month extension if stock prices fall below the IPO price for 20 consecutive trading days[140]. - The company has made long-term commitments regarding profit distribution, which are detailed in the prospectus disclosed on the Shanghai Stock Exchange[140]. Social Responsibility - The company has actively engaged in social responsibility initiatives during the challenging economic conditions of 2020[169]. - The company donated a total of RMB 1.2 million to support COVID-19 relief efforts, including RMB 200,000 specifically for Wuhan and RMB 500,000 for the charity in Xishan District[172].

Financial Performance - Operating revenue for the reporting period was CNY 338,395,298.18, representing a growth of 43.50% year-on-year[11]. - Net profit attributable to shareholders was CNY 67,004,025.28, an increase of 88.99% compared to the same period last year[11]. - Basic earnings per share increased to CNY 0.16, a rise of 62% compared to the previous year[11]. - The company reported a total profit of approximately ¥81.99 million for Q1 2021, compared to ¥43.88 million in Q1 2020, marking an increase of 87.0%[47]. - Net profit for Q1 2021 reached approximately ¥67.00 million, representing an increase of 89.2% compared to ¥35.45 million in Q1 2020[47]. - The company reported a net profit margin improvement, with undistributed profits rising to ¥1,095,104,782.62 from ¥1,037,697,079.56, an increase of about 5.5%[38]. Cash Flow - Net cash flow from operating activities was CNY 105,793,529.47, up 109.06% year-on-year[11]. - The net cash flow from operating activities was RMB 105,793,529.47, significantly up from RMB 50,603,685.56 in the same period last year, marking a 108.5% increase[58]. - The total cash outflow from operating activities was RMB 158,863,630.55, down 36.2% from RMB 249,010,501.54 in Q1 2020[58]. - The cash outflow for purchasing goods and services was RMB 87,729,484.19, down 51.6% from RMB 181,257,679.36 in the same quarter last year[58]. - The company recorded a financial expense of approximately -¥3.82 million in Q1 2021, compared to -¥3.18 million in Q1 2020[44]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 2,840,342,524.51, an increase of 4.80% compared to the end of the previous year[11]. - Total liabilities increased to ¥382,283,473.24, up from ¥310,519,562.87, representing a growth of approximately 23.1%[33]. - Total equity rose to ¥2,458,059,051.27, compared to ¥2,399,810,358.57, reflecting an increase of about 2.4%[33]. - Current assets totaled ¥1,836,153,609.05, an increase from ¥1,720,955,543.44, marking a growth of approximately 6.7%[37]. - Accounts receivable increased to ¥349,276,387.88 from ¥301,809,916.35, showing a rise of about 15.7%[37]. Shareholder Information - The total number of shareholders at the end of the reporting period was 24,312[14]. - The top shareholder, Huawei International Development Limited, holds 59.86% of the shares[14]. Operating Costs and Expenses - The company's operating costs rose by 53.18% to ¥233,920,732.06, attributed to increased sales volume and the pandemic's effects in the previous year[20]. - The company's sales expenses decreased significantly by 93.13% to ¥987,271.72, as sales freight was reclassified to operating costs[20]. - Research and development expenses increased to approximately ¥11.39 million in Q1 2021, up 64.1% from ¥6.91 million in Q1 2020[44]. Other Income and Expenses - The company received government subsidies amounting to CNY 4,128,326.93 related to its normal business operations[13]. - Non-operating income and expenses totaled CNY 3,011,316.78 after tax effects[13]. - The company's other income rose by 104.92% to ¥1,347,704.31, mainly due to an increase in tax refunds[20]. - The company's credit impairment losses increased by 266.71% to -¥1,402,972.59, primarily due to an increase in accounts receivable and higher bad debt provisions[20].