上海起帆电缆股份有限公司独立董事 2145m 独立董事（签名): 刘华凯 （本页无正文，仅为《上海起帆电缆股份有限公司独立董事关于公司第三届董事会第十 六次会议的独立意见》之签字页） 姚大庆乐 独立董事(签名): 姚欢庆 关于公司第三届董事会第十六次会议的独立意见 根据《中华人民共和国公司法》《上市公司治理准则》《上海证券交易所股票上市规 则》《上市公司独立董事规则》《上海起帆电缆股份有限公司章程》等有关规定，我们作 为上海起帆电缆股份有限公司（以下简称"公司"）的独立董事，本着实事求是的原则, 基于独立判断的立场,现就第三届董事会第十六次会议审议的相关议案发表如下独立意 见: 一、关于 2023 年半年度募资资金存放与使用情况的专项报告的独立意见 我们一致认为：公司编制的《关于 2023 年半年度募集资金存放与使用情况的专项 报告》真实、准确、完整地反映了公司 2023年半年度募集资金的存放与实际使用情况。 公司 2023 年半年度募集资金的存放与使用情况符合中国证监会、上海证券交易所的相 关规定,不存在募集资金存放与使用违规的情形。 [本页以下无正文] (本页无正文，仪为《上海起帆电缆股份有限公司独立董事 ...

Financial Performance and Profitability - Revenue for 2022 reached 20.64 billion RMB, an increase from 18.88 billion RMB in 2021[49] - Operating profit for 2022 was 496.39 million RMB, a decrease from 908.36 million RMB in 2021[49] - Net profit for 2022 was 370.18 million RMB, down from 683.29 million RMB in 2021[49] - Net profit attributable to parent company shareholders decreased to RMB 366.30 million in 2022, down from RMB 683.88 million in 2021, a decline of 46.4%[65] - Basic earnings per share (EPS) dropped to RMB 0.88 in 2022 from RMB 1.71 in 2021, a decrease of 48.5%[65] - The company's comprehensive income for the period was RMB 97,949,663.75[57] - The company's total comprehensive income for the year was 683,876,549.64[70] Cash Flow and Liquidity - Sales of goods and services generated 20.97 billion RMB in cash flow for 2022, compared to 17.39 billion RMB in 2021[50] - Cash and cash equivalents at the end of 2022 were 1.67 billion RMB, down from 2.03 billion RMB at the beginning of the year[51] - Net cash flow from financing activities was 1.47 billion RMB in 2022, a decrease from 1.73 billion RMB in 2021[51] - Net cash flow from operating activities was -2.28 billion RMB in 2022, compared to 451.28 million RMB in 2021[52] - Total cash inflows from operating activities were 19.01 billion RMB in 2022, up from 18.15 billion RMB in 2021[52] - Cash outflows for purchasing goods and services were 19.80 billion RMB in 2022, an increase from 16.40 billion RMB in 2021[52] - Cash flow from operating activities turned negative at RMB -1.84 billion in 2022, compared to a positive RMB 87.59 million in 2021[66] - Cash and cash equivalents decreased to RMB 1.83 billion in 2022 from RMB 2.40 billion in 2021, a reduction of 23.7%[64] - The company's cash and cash equivalents decreased by 668,752,573.50 in 2022, compared to an increase of 1,417,201,154.57 in the previous year[68] Debt and Liabilities - The company's total assets at the beginning of the reporting period were 9.251 billion yuan, with total liabilities of 5.525 billion yuan, resulting in a debt-to-asset ratio of 59.72%. By the end of the reporting period, total assets increased to 12.217 billion yuan, and total liabilities rose to 8.026 billion yuan, leading to a debt-to-asset ratio of 65.69%[26] - The company's total liabilities increased from 5.525 billion yuan at the beginning of the reporting period to 8.026 billion yuan by the end, reflecting a significant rise in debt levels[26] - Total liabilities grew to RMB 6.06 billion in 2022 from RMB 3.89 billion in 2021, an increase of 55.8%[64] - Short-term borrowings surged to RMB 3.91 billion in 2022, up from RMB 1.42 billion in 2021, a growth of 175.1%[64] Shareholder Structure and Equity - Zhou Gonghua holds 91,008,200 shares, accounting for 21.77% of the total shares[18] - Zhou Guihua holds 84,996,400 shares, accounting for 20.33% of the total shares[18] - Zhou Guixing holds 84,991,400 shares, accounting for 20.33% of the total shares[18] - He Dekang holds 23,000,500 shares, accounting for 5.50% of the total shares[18] - Shanghai Qingzhi Storage Co., Ltd. holds 9,500,000 shares, accounting for 2.27% of the total shares[18] - Zhou Zhiqiao holds 6,016,800 shares, accounting for 1.44% of the total shares[18] - Zhou Ting holds 6,016,800 shares, accounting for 1.44% of the total shares[18] - Zhou Yijing holds 6,016,800 shares, accounting for 1.44% of the total shares[18] - Zhou Zhihao holds 6,016,800 shares, accounting for 1.44% of the total shares[18] - Zhou Yue holds 6,016,800 shares, accounting for 1.44% of the total shares[18] - The top shareholder, Zhou Guihua, holds 84,996,400 shares, representing a significant portion of the company's equity[36] - Zhou Guixing, the Vice Chairman, holds 84,991,400 shares, maintaining a strong position in the company's ownership structure[36] - Zhou Gongnian, the Vice Chairman and General Manager, holds 91,008,200 shares, the largest individual stake among the executives[36] - The company's top institutional investor, Haozechenxi 11 Private Securities Investment Fund, holds 4,148,700 shares[35] - China Life Insurance Co., Ltd. holds 2,898,800 shares through its investment in the Zhongou Fund[35] - The company's board members and executives collectively hold a substantial number of shares, with no significant changes reported during the year[36] - The company's top 10 shareholders include a mix of institutional investors and individuals, with significant holdings in RMB ordinary shares[35] Corporate Governance and Management - The company's directors and senior management have committed to not engaging in activities that harm the company's interests and to linking their compensation with the company's performance[9] - The company held 18 board meetings in 2022, all of which were conducted via a combination of on-site and teleconference methods[21] - The company's board of directors established specialized committees, including the Audit Committee, Nomination Committee, Compensation and Evaluation Committee, and Strategy Committee, with specific members assigned to each[22] - The company's board of directors held 18 meetings in 2022, with all directors attending the required number of meetings, and no instances of consecutive absences[21] - The company held 4 audit committee meetings during the reporting period, covering topics such as the 2021 annual report, financial statements, internal control evaluation, and appointment of audit institutions[116] - The company held 2 nomination committee meetings in 2022, focusing on board election and senior management appointments[117] - The company's executives, including the Chairman and Vice Chairmen, received annual compensation ranging from 78.05 to 160.62 million RMB[36] - The company's independent directors received annual compensation ranging from 3.75 to 7.5 million RMB[36] Investments and Assets - The company's "Qifan Convertible Bonds" had a pre-conversion amount of 999.673 million yuan, with 368,000 yuan converted during the reporting period, resulting in a post-conversion amount of 999.305 million yuan[24] - Total convertible bonds not yet converted amount to 999,305,000 yuan, accounting for 99.9305% of the total issued convertible bonds[42] - The latest conversion price as of the end of the reporting period is 19.86 yuan[43] - The cumulative number of shares converted from convertible bonds is 34,601, representing 0.0083% of the total shares issued before conversion[42] - The company's total assets at the beginning of the reporting period were 9.251 billion yuan, with total liabilities of 5.525 billion yuan, resulting in a debt-to-asset ratio of 59.72%. By the end of the reporting period, total assets increased to 12.217 billion yuan, and total liabilities rose to 8.026 billion yuan, leading to a debt-to-asset ratio of 65.69%[26] - Total assets increased to RMB 10.65 billion in 2022, up from RMB 8.12 billion in 2021, representing a growth of 31.2%[64] - Accounts receivable increased significantly to RMB 3.10 billion in 2022, up from RMB 2.34 billion in 2021, a rise of 32.2%[64] - Inventory nearly doubled to RMB 2.74 billion in 2022 from RMB 1.35 billion in 2021, an increase of 102.1%[64] - Long-term equity investments increased substantially to RMB 733.13 million in 2022 from RMB 173.43 million in 2021, a rise of 322.7%[64] - The company's investment property at the end of the period has a book value of RMB 4,488,377.52, compared to RMB 4,861,252.56 at the beginning of the period, indicating a decrease in value[200] - The accumulated depreciation and amortization for investment property increased by RMB 372,875.04 during the period, reaching RMB 3,602,929.98 at the end of the period[200] - The original book value of the company's investment property remained unchanged at RMB 8,091,307.50 throughout the period[199][200] - No impairment losses were recorded for the company's investment property during the period[200] - The company did not make any new investments in investment property during the period, as there were no increases in the original book value[199] Research and Development - R&D expenses increased to 92.28 million RMB in 2022, up from 53.46 million RMB in 2021[49] Shareholder Returns and Dividends - The company has established a three-year shareholder dividend return plan to ensure stable and continuous profit distribution, protecting the interests of shareholders, especially minority shareholders[8] Credit and Risk Management - The company's credit rating remained stable at AA- for both the corporate entity and the "Qifan Convertible Bonds," as assessed by China Chengxin International Credit Rating Co., Ltd[26] - The company and its controlling shareholders have a good credit status, with no significant debts overdue or court judgments not fulfilled[13] - The company's total bank acceptance bills at the end of the period amounted to RMB 11,267,943.84, a decrease from RMB 17,000,000.00 at the beginning of the period[138] - Commercial acceptance bills decreased to RMB 37,324,458.90 from RMB 87,253,014.76 at the beginning of the period[138] - Financial company acceptance bills increased to RMB 198,910,441.96 from RMB 130,046,521.32 at the beginning of the period[138] - The total bad debt provision was RMB -12,472,200.03, compared to RMB -10,864,976.82 at the beginning of the period[138] - The total value of all bills and provisions at the end of the period was RMB 235,030,644.67, up from RMB 223,434,559.26 at the beginning of the period[138] - The company transferred RMB 27,437,626.64 in bills to accounts receivable due to non-performance by the issuers, including RMB 1,381,000.00 in commercial acceptance bills and RMB 26,056,626.64 in bank acceptance bills[139] - The company's accounts receivable with bad debt provisions totaled RMB 247,502,844.70, with a bad debt provision of RMB 12,472,200.03[159] - The company's other receivables with a maturity of less than 1 year amounted to RMB 178,431,552.85[160] - The company's other receivables with a maturity of 1 to 2 years amounted to RMB 9,677,923.92[160] - The company's other receivables with a maturity of 2 to 3 years amounted to RMB 5,273,431.68[160] - The company's other receivables with a maturity of 3 to 4 years amounted to RMB 1,343,788.59[160] - The company's other receivables with a maturity of 4 to 5 years amounted to RMB 1,210,234.66[160] - The company's other receivables with a maturity of less than 5 years amounted to RMB 299,170.72[160] - The futures guarantee account of Guoxin Futures Co., Ltd. has an ending balance of 120,321,121.48 RMB, accounting for 61.31% of the total other receivables[162] - The fair value of financial assets measured at fair value with changes included in current profit or loss is 30,791,950.68 RMB, a decrease from 262,632,900.00 RMB at the beginning of the period[163] - The company has endorsed or discounted but not yet matured bills receivable at the end of the period, with a total of 170,320,097.73 RMB, including 9,562,873.84 RMB for commercial acceptance bills and 169,721,439.56 RMB for financial company acceptance bills[164] - The bad debt provision for commercial acceptance bills is 2,526,677.93 RMB, with a provision ratio of 6.77%[167] - The bad debt provision for financial company acceptance bills is 9,945,522.10 RMB, with a provision ratio of 5.00%[168] - The total bad debt provision for bills receivable at the end of the period is 12,472,200.03 RMB, including 2,526,677.93 RMB for commercial acceptance bills and 9,945,522.10 RMB for financial company acceptance bills[170] - The accounts receivable within 1 year amount to 2,872,553,060.96 RMB, accounting for the majority of the total accounts receivable of 3,352,546,612.55 RMB[171] - The bad debt provision for accounts receivable is 42,609,729.70 RMB, with a provision ratio of 100%[173] - Total accounts receivable for the credit risk portfolio is RMB 3,309,936,882.85, with a bad debt provision of RMB 215,855,469.17, representing a provision ratio of 6.52%[178] - The total bad debt provision for the credit risk portfolio increased by RMB 73,427,049.89 to RMB 215,855,469.17 during the period[180] - The total bad debt provision for individually assessed accounts increased by RMB 9,777,071.61 to RMB 42,609,729.70[180] - The top five accounts receivable balances account for 16.16% of the total accounts receivable, with a combined balance of RMB 542,088,413.02[180] - The largest single account receivable is from China Railway Construction Engineering Group Co., Ltd., with a balance of RMB 172,696,434.62, representing 5.15% of total accounts receivable[180] - The total bad debt provision for the period increased by RMB 83,204,121.50 to RMB 258,465,198.87[180] - The total accounts receivable balance for individually assessed accounts is RMB 42,609,729.70, with a 100% bad debt provision ratio[176] - The total bad debt provision for the credit risk portfolio at the beginning of the period was RMB 142,428,419.28[180] - The total bad debt provision for individually assessed accounts at the beginning of the period was RMB 41,471,605.28[180] - The total accounts receivable balance for the credit risk portfolio at the beginning of the period was RMB 2,423,977,142,428[178] - Accounts receivable increased significantly from 196,691,173.77 to 332,248,522.33, a growth of 69.0%[182] - Prepayments within 1 year accounted for 95.28% of total prepayments, with a balance of 28,299,399.80[184] - Top 5 prepayment recipients accounted for 62.80% of total prepayments, with Shanghai Li Jing Trading Co., Ltd. being the largest at 18.79%[185] - Inventory balance increased from 2,018,336,805.48 to 3,988,131,971.79, a growth of 97.6%[189] - Inventory impairment provision increased from 8,200,942.08 to 2,102,553.84, a decrease of 74.4%[191] - Contract assets within 1 year increased from 321,708,102.88 to 347,612,202.95, a growth of 8.1%[193] - Bad debt provision for contract assets increased by 2,772,735.57[195] - Other current assets increased to 3,742,929.02, primarily due to deductible input tax of 3,737,653.16[197] Accounting and Financial Reporting - The company's financial statements for 2022 have been audited and are in compliance with accounting standards, reflecting the financial status and operating results accurately[45] - The company's management is responsible for other information in the annual report, excluding the audited financial statements[46] - The company has communicated with the governance layer regarding independence-related ethical requirements and potential impacts on independence[47] - The company's financial statements are prepared on a going concern basis[59] - The company's accounting currency is RMB[60] - The company's financial statements are prepared in accordance with the Chinese Accounting Standards and the regulations of the China Securities Regulatory Commission[75] - The company uses the weighted average method for inventory valuation when issuing inventory[97] - Fixed assets are recognized when the related economic benefits are likely to flow into the company and the cost can be reliably measured[100] - The company capitalizes development stage expenditures as intangible assets if specific conditions are met, otherwise, they are expensed[103] - The company uses the cost method for long-term equity investments in subsidiaries unless the investment meets the criteria for held-for-sale[99] - The company uses the equity method for long-term equity investments in associates and joint ventures[99] - The company recognizes contract assets or liabilities based on the relationship between performance obligations and customer payments[104] - The company uses the effective interest rate method to calculate the capitalization rate and amount for general borrowing costs[102] - The company uses the spot exchange rate at the balance sheet date to translate foreign currency financial statements[94] - The company derecognizes financial liabilities when the present obligation is discharged or when the terms are substantially

Financial Performance - The company's operating revenue for Q1 2023 was CNY 4,560,567,125.73, representing a year-on-year increase of 23.50%[5] - The net profit attributable to shareholders was CNY 154,282,700.16, reflecting a growth of 2.99% compared to the same period last year[5] - The net profit after deducting non-recurring gains and losses decreased by 10.40% to CNY 129,018,978.20[5] - The basic earnings per share for the period was CNY 0.37, an increase of 3.02% year-on-year[6] - Total revenue for Q1 2023 reached ¥4,560,567,125.73, an increase of 23.5% compared to ¥3,692,878,737.37 in Q1 2022[21] - Net profit for Q1 2023 was ¥154,477,459.57, compared to ¥148,945,053.42 in Q1 2022, showing a growth of 3.4%[22] - The total comprehensive income for Q1 2023 was ¥154,477,459.57, up from ¥148,945,053.42 in Q1 2022, indicating a growth of about 3.6%[23] - Basic earnings per share for Q1 2023 were ¥0.37, compared to ¥0.36 in Q1 2022, representing a 2.8% increase[23] Assets and Liabilities - The total assets at the end of the reporting period amounted to CNY 12,596,061,103.24, up 3.10% from the end of the previous year[6] - Total assets as of Q1 2023 amounted to ¥12,596,061,103.24, up from ¥12,217,475,573.34 in the previous year, indicating a growth of 3.1%[20] - Total liabilities for Q1 2023 were ¥8,274,796,228.05, compared to ¥8,025,972,348.30 in Q1 2022, marking an increase of 3.1%[20] - The total equity attributable to shareholders increased to ¥4,315,352,480.87 in Q1 2023 from ¥4,151,479,071.67 in Q1 2022, reflecting a growth of 3.9%[20] Cash Flow - The company's cash flow from operating activities showed a net outflow of CNY 1,214,831,850.58, which is not applicable for year-on-year comparison[5] - Cash inflow from operating activities in Q1 2023 was ¥4,548,403,717.04, an increase from ¥3,944,871,924.74 in Q1 2022, marking a growth of approximately 15.3%[25] - Cash outflow from operating activities in Q1 2023 was ¥5,763,235,567.62, down from ¥6,217,308,556.28 in Q1 2022, showing a decrease of about 7.3%[25] - The net cash flow from operating activities for Q1 2023 was -¥1,214,831,850.58, an improvement from -¥2,272,436,631.54 in Q1 2022[25] - The ending cash and cash equivalents balance for Q1 2023 was ¥775,849,214.23, compared to ¥371,135,065.24 in Q1 2022, indicating a significant increase of about 109.1%[26] Expenses and Investments - Research and development expenses increased by 63.84%, primarily due to increased investment by subsidiaries[10] - Research and development expenses increased to ¥26,735,379.12 in Q1 2023 from ¥16,318,269.45 in Q1 2022, representing a 63.8% rise[22] - The company’s financial expenses rose to ¥46,297,845.46 in Q1 2023 from ¥36,265,005.80 in Q1 2022, an increase of 27.8%[22] - The company’s long-term investments in fixed assets rose to CNY 978.12 million, compared to CNY 959.63 million, showing a slight increase of approximately 1.9%[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 13,929[12] - The company has not disclosed any significant changes in shareholder relationships or other major operational strategies during the reporting period[14] Other Financial Metrics - The company reported a significant increase in other income by 346.52%, mainly attributed to government subsidies[10] - The company acquired a 30% stake in Nanyang-Tengchuan, leading to a decrease in minority shareholders' equity by 85.23%[10] - The total amount of prepayments increased to CNY 50.60 million from CNY 26.01 million, indicating a growth of about 94.8%[18] - The company reported a total of CNY 37.82 million in trading financial assets, an increase from CNY 30.79 million, reflecting a growth of approximately 22.0%[18] - The company's cash and cash equivalents decreased to CNY 1.20 billion from CNY 2.19 billion, representing a decline of approximately 45.0%[18] - Accounts receivable increased significantly to CNY 3.86 billion, up from CNY 3.09 billion, indicating a growth of around 24.7%[18] - Inventory levels rose to CNY 4.59 billion, compared to CNY 3.99 billion, marking an increase of approximately 15.5%[18] Future Plans - The company plans to establish a wholly-owned subsidiary in Fangchenggang, with a total investment of CNY 2 billion, up from the previously estimated CNY 1.8 billion[15] - The construction period for the new project has been shortened from 4-5 years to 2.5 years, enhancing operational efficiency[15] Accounting Standards - The company did not apply new accounting standards or interpretations for the first time in 2023[28]

| 证券代码：605222 | 证券简称：起帆电缆 | 公告编号：2023-037 | | --- | --- | --- | | 债券代码：111000 | 债券简称：起帆转债 | | 上海起帆电缆股份有限公司 关于召开 2022 年度暨 2023 年第一季度业绩暨现金分红说 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： 一、说明会类型 上海起帆电缆股份有限公司（以下简称"公司"）已于 2023 年 4 月 27 日在 上海证券交易所网站（www.sse.com.cn）披露了《2022 年年度报告》《2022 年 度利润分配方案的公告》《2023 年第一季度报告》。为加强与投资者的深入交 流，使投资者更加全面、深入地了解公司情况，公司拟以网络互动的方式召开 2022 年度暨 2023 年第一季度业绩暨现金分红说明会，欢迎广大投资者积极参与。 1 会议召开方式：网络互动方式 三、参加人员 公司董事长周桂华先生；副董事长兼总经理周供华先生；董事兼董事会秘书 陈永达先生；董事兼财务总监管子房先生；独立 ...

上海起帆电缆股份有限公司 投资资者关系活动记录 证券代码：605222 证券简称：起帆电缆 上海起帆电缆股份有限公司投资者关系活动记录表 编号：2022-001 | --- | --- | --- | |-----------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------- ...

Financial Performance - The company's operating revenue for Q3 2022 was ¥6,442,251,424.87, representing an increase of 18.09% year-over-year[7]. - The net profit attributable to shareholders for Q3 2022 was ¥3,747,718.92, a decrease of 97.79% compared to the same period last year[7]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥2,249,614.36, down 98.68% year-over-year[7]. - The basic earnings per share for Q3 2022 was ¥0.01, a decline of 97.62% compared to the same period last year[10]. - The diluted earnings per share for Q3 2022 was also ¥0.01, a decrease of 97.44% year-over-year[10]. - Operating profit for the first three quarters of 2022 was CNY 411,644,084.25, down from CNY 678,113,079.85 in the previous year, reflecting a decrease of approximately 39.3%[36]. - Net profit for the first three quarters of 2022 was CNY 309,574,300.22, compared to CNY 508,487,989.97 in 2021, showing a decline of around 39.2%[36]. - The net profit attributable to the parent company's shareholders for the current period is approximately ¥307.50 million, a decrease from ¥508.49 million in the previous period, representing a decline of about 39.5%[40]. - The total comprehensive income for the current period is approximately ¥309.57 million, compared to ¥508.49 million in the previous period, representing a decline of about 39.1%[40]. Assets and Liabilities - The total assets at the end of Q3 2022 amounted to ¥12,098,487,845.98, reflecting a 30.78% increase from the end of the previous year[10]. - Total current assets as of September 30, 2022, amounted to ¥10,490,086,833.23, an increase from ¥7,969,631,584.45 as of December 31, 2021, representing a growth of approximately 31.0%[26]. - The company has a significant increase in non-current assets, with fixed assets rising to ¥810,627,169.64 from ¥749,496,569.60[26]. - Total assets as of the reporting date were CNY 12,098,487,845.98, compared to CNY 9,250,917,889.94 in the previous year, representing a growth of about 30.05%[31]. - Total liabilities increased to CNY 7,996,147,220.09 from CNY 5,524,636,637.75, indicating a rise of approximately 44.66%[31]. - Non-current assets totaled CNY 1,608,401,012.75, up from CNY 1,281,286,305.49, reflecting an increase of about 25.5%[31]. Cash Flow - The net cash flow from operating activities for the year-to-date was -¥2,855,120,090.23, a decrease of 55.05% compared to the same period last year[10]. - The total cash inflow from operating activities is approximately ¥14.65 billion, compared to ¥11.45 billion in the previous period, reflecting an increase of about 28.7%[42]. - The net cash flow from operating activities is approximately -¥2.86 billion, worsening from -¥1.84 billion in the previous period[42]. - The cash inflow from investment activities is approximately ¥202.10 million, a significant decrease from ¥499.59 million in the previous period[44]. - The net cash flow from financing activities is approximately ¥1.48 billion, down from ¥1.79 billion in the previous period, indicating a decrease of about 16.5%[44]. - The cash and cash equivalents at the end of the period amount to approximately ¥662.79 million, a decrease from ¥293.75 million in the previous period[44]. Shareholder Information - The company reported a total of 16,052 common shareholders at the end of the reporting period[20]. - Major shareholders include Zhou Gonghua with 21.76% and Zhou Guihua with 20.32% of shares[20]. - The total number of shares held by the top ten shareholders indicates a concentration of ownership, with the top three holding over 62%[20]. Operational Insights - The company reported a significant increase in sales expenses and R&D investments, contributing to the decline in net profit[16]. - The company experienced a substantial increase in inventory and accounts receivable due to rising production orders and sales growth[16]. - The company indicated that the fluctuation in copper prices significantly impacted its financial performance, leading to increased impairment losses on inventory[16]. - The company is focusing on market expansion and new product development strategies to enhance growth[23]. - The company is actively monitoring its financial health and operational strategies to adapt to market changes[23]. Research and Development - Research and development expenses for the first three quarters of 2022 amounted to CNY 60,462,636.87, up from CNY 39,183,049.44 in 2021, marking an increase of approximately 54.2%[36].

Financial Performance - The company's operating revenue for the first half of 2022 was ¥8,163,756,459.12, representing a 9.18% increase compared to ¥7,477,613,079.63 in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2022 was ¥303,756,732.49, a decrease of 10.41% from ¥339,055,842.74 in the previous year[20]. - The net cash flow from operating activities was -¥2,579,162,811.34, indicating a significant decline compared to -¥937,382,875.81 in the same period last year[20]. - The total assets at the end of the reporting period were ¥11,349,365,249.40, which is a 22.68% increase from ¥9,250,917,889.94 at the end of the previous year[20]. - The net assets attributable to shareholders increased by 7.33% to ¥3,960,668,634.54 from ¥3,690,136,409.71 at the end of the previous year[20]. - Basic earnings per share for the first half of 2022 were ¥0.73, down 14.12% from ¥0.85 in the same period last year[23]. - The diluted earnings per share decreased by 18.82% to ¥0.69 from ¥0.85 in the previous year[23]. - The weighted average return on equity decreased by 3.61 percentage points to 7.92% from 11.53% in the previous year[23]. - The company reported a decrease of 11.99% in net profit after deducting non-recurring gains and losses, amounting to ¥295,273,269.32 compared to ¥335,491,974.39 in the previous year[20]. - Revenue increased by 9.18% year-on-year, primarily due to an increase in sales orders[24]. - Net profit attributable to shareholders decreased by 10.41% year-on-year, mainly due to increased expenses from convertible bonds, stock-based compensation, and higher sales and R&D costs[24]. - Total assets grew by 22.68% compared to the end of the previous year, driven by increased inventory and orders[24]. - Operating cash flow decreased year-on-year, attributed to higher procurement payments and increased tax and bonus payments[24]. - Basic and diluted earnings per share decreased year-on-year, primarily due to an increase in weighted average shares from stock incentives and lower net profit[24]. Operational Highlights - The company has developed over 50,000 product specifications to meet various complex usage requirements[31]. - The company has established a strong sales network through both offline and online channels, enhancing market penetration[37]. - The company focuses on a production model based on "sales-driven production" to ensure timely delivery of orders[34]. - The company aims to become a leading domestic manufacturer of wire and cable, providing one-stop services to users[32]. - The company has accumulated 146 patents and offers over 50,000 product specifications, with high-end specialty products achieving domestic leadership[45]. - The company has established a comprehensive marketing network with over 300 direct distributors, covering thousands of sales terminals[49]. - The company is positioned as the largest wire and cable production and sales enterprise in Shanghai, reflecting significant market influence[44]. - The company emphasizes a pricing model based on copper prices plus target gross margin, adapting to market fluctuations[39]. - The company is focused on digital management upgrades, implementing ERP and cloud platforms for full-process tracking from order to delivery[52]. - The company anticipates explosive growth in the new energy market driven by the national "dual carbon" strategy, presenting significant opportunities for its products[42]. Investment and Financing - The company plans to invest ¥1.8 billion in the Beihai Qifan submarine cable production base project, with a construction period of 4-5 years[66]. - The company's cash and cash equivalents decreased by 57.30% to ¥1,042,656,162.41, primarily due to increased procurement payments[59]. - Short-term borrowings increased by 95.77% to ¥3,685,000,000.00, necessitated by expanded production scale and increased raw material procurement[59]. - The company reported a decrease in financing cash flow by 20.16% to ¥1,115,000,655.01, compared to the previous year due to reduced fundraising activities[56]. - The company plans to issue non-financial corporate debt financing tools totaling up to RMB 50 million[186]. - The company issued 10 million convertible bonds with a total value of RMB 100 million, which began trading on June 17, 2021[186]. - The number of convertible bond holders at the end of the reporting period was 13,882[188]. - The total amount of the convertible bond "Qifan Convertible Bond" before changes was CNY 999,673,000, which decreased to CNY 999,470,000 after a conversion of CNY 203,000[190]. - The total conversion amount during the reporting period was CNY 203,000, resulting in a conversion of 10,094 shares, which is 0.0063% of the total shares before conversion[191]. - The remaining unconverted amount of the convertible bond is CNY 999,470,000, which constitutes 99.9470% of the total issued convertible bonds[191]. - The credit rating for the company and the "Qifan Convertible Bond" remains at AA- with a stable outlook, unchanged from the previous rating[194]. - The coupon rates for the convertible bond range from 0.40% in the first year to 3.00% in the sixth year[188]. Risks and Challenges - The company faced risks from macroeconomic fluctuations that could lead to decreased demand for cable products, impacting overall performance[73]. - The company highlighted the significant impact of raw material price fluctuations, particularly copper, on operating costs and profitability[74]. - The competitive landscape in the cable industry is intensifying, with numerous players and varying production quality, posing a risk to the company's market position[75]. - Rapid expansion of the company's operations may lead to management challenges, increasing the risk of operational mismanagement[76]. - The company has established a comprehensive quality control system but still faces risks related to product quality that could affect brand reputation and customer retention[79]. - Ongoing global pandemic challenges continue to pose risks to the company's operations and require robust health and safety measures[80]. Shareholder and Governance - The company has not proposed any profit distribution plan or capital reserve transfer to increase share capital for this reporting period[6]. - The company did not distribute profits or increase capital reserves during the reporting period[87]. - The company’s major shareholders have committed to a 36-month lock-up period for their shares post-IPO[99]. - Shareholders are restricted from transferring more than 25% of their shares annually during their tenure as directors or executives[101]. - The company has not disclosed any new employee stock ownership plans or incentive measures[88]. - The company has not made any changes to its equity incentive plans or employee stock ownership plans[88]. - The company has not disclosed any new strategies related to market expansion or mergers and acquisitions[88]. - The company commits to ensuring the accuracy and completeness of its prospectus, bearing legal responsibility for any false statements[123]. - In case of significant omissions in the prospectus, the company will refund investors with interest on their subscription amounts[124]. - The controlling shareholders have made commitments regarding the fulfillment of stabilization measures and their legal responsibilities[125]. - The company will enhance the market development and promotion of specialty cable products to increase revenue share and improve profitability[144]. - The company plans to improve production processes and operational efficiency through better information management across procurement, production, inventory, and sales[145]. - The company commits to increasing R&D investment and strengthening talent development to enhance product competitiveness and profitability[144]. - The company aims to control funding costs and optimize budget management to reduce overall expenses[145]. - The company has established commitments to avoid false statements and misleading information in its prospectus, ensuring legal accountability[128]. - The company’s controlling shareholders have pledged to avoid any business activities that may compete with the company’s operations[134]. - The company will ensure compliance with social insurance and housing fund regulations to avoid administrative penalties[142]. - The company has committed to measures to mitigate the dilution of immediate returns from its financing activities[143]. - The company will enhance internal controls to effectively manage risks during operations[145]. - The company will focus on maintaining independence from its controlling shareholders to protect its interests[139]. - The company will actively allocate resources to complete preliminary preparations for fundraising investment projects before the funds are in place, and will use its own funds for initial construction[146]. - The company plans to establish a more scientific, sustainable, and stable shareholder return mechanism, considering profitability, operational development plans, and cash flow[149]. - The company has committed to ensuring that all board members and senior management will not engage in actions that harm the company's interests or unfairly benefit others[151]. - The company has reported a related party transaction amounting to 15.19 million yuan as of June 30, 2022, with an expected total transaction amount of 50 million yuan for the year[161]. - The company will open a special account for fundraising to ensure that funds are used specifically for their intended purpose and will be subject to supervision by relevant authorities[148]. - The company has no major litigation or arbitration matters during the reporting period, indicating a stable legal standing[160]. - The company emphasizes the importance of protecting the interests of small and medium shareholders in its profit distribution policy[149]. - The company has committed to not providing loans or financial assistance to incentive plan participants for acquiring rights under the incentive plan[157]. - The company will accelerate the construction of fundraising investment projects after the funds are in place to achieve expected benefits and increase shareholder returns in future years[146]. - The company has a good integrity status during the reporting period, with no significant debts or regulatory penalties reported[160]. - The total guarantee amount at the end of the reporting period (excluding guarantees to subsidiaries) is 0 RMB[167]. - The total guarantee amount to subsidiaries during the reporting period is 878,000,000 RMB, with a balance of 508,000,000 RMB at the end of the period[167]. - The total guarantee amount (including guarantees to subsidiaries) is 508,000,000 RMB, accounting for 12.72% of the company's net assets[167]. - There are no guarantees provided for shareholders, actual controllers, or their related parties[167]. - The total number of ordinary shareholders at the end of the reporting period is 18,383[175]. - The total number of shares before the change is 418,213,213, with an increase of 10,094 shares after the change[172]. - The largest shareholder, Zhou Gonghua, holds 91,008,200 shares, accounting for 21.76% of the total shares[177]. - Zhou Guihua and Zhou Guixing each hold 84,996,400 and 84,991,400 shares, representing 20.32% of the total shares[177]. - The total number of shares held by the top ten shareholders accounts for a significant portion of the company's equity[177]. - The company has issued 10,094 new shares during the reporting period[172]. - Major shareholders include Zhou Gonghua with 91,008,200 shares and Zhou Guihua with 84,996,400 shares, both subject to a 36-month lock-up period[182]. - Senior management, including Han Baozhong and Chen Zhiyuan, increased their holdings by 76,700 and 80,000 shares respectively during the reporting period[183]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[185]. - The company has not granted any stock incentives to directors, supervisors, or senior management during the reporting period[185]. - The total assets at the beginning of the reporting period were CNY 9.251 billion, and at the end, they increased to CNY 11.349 billion, reflecting a growth of approximately 22.7%[194]. - The total liabilities increased from CNY 5.525 billion to CNY 7.355 billion, resulting in a debt ratio increase from 59.72% to 64.80%[194]. - The top ten holders of the convertible bonds hold a total of CNY 258,420,000, accounting for 2.59% of the total[188]. - The latest adjusted conversion price for the "Qifan Convertible Bond" is CNY 19.86[193].

2022 年第一季度报告 单位：元 币种：人民币 证券代码：605222 证券简称：起帆电缆 上海起帆电缆股份有限公司 2022 年第一季度报告 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、准确性和完整性依法承担法律责任。 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。 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报表 信息的真实、准确、完整。 第一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 | --- | --- | --- | |-----------------------------------------------|-------------------|-------------------------------------| | 项目 | 本报告期 | 本报告期比上年同期增减 变动幅度 (%) | | 营业收入 | 3,692,878,737. ...

Financial Performance - The company's operating revenue for 2021 reached ¥18,877,541,660.47, representing a year-on-year increase of 93.90%[31]. - Net profit attributable to shareholders was ¥683,876,549.64, up 66.66% compared to the previous year[31]. - The net profit after deducting non-recurring gains and losses was ¥636,771,357.08, reflecting a growth of 68.86% year-on-year[31]. - Basic earnings per share rose to ¥1.71, a 55.45% increase from the previous year[30]. - The weighted average return on equity was 21.13%, an increase of 1.76 percentage points compared to 2020[30]. - The company achieved operating revenue of 1,887,754.17 million yuan, a year-on-year increase of 93.90%[45]. - The net profit attributable to shareholders reached 68,387.65 million yuan, reflecting a growth of 66.66% compared to the previous year[45]. - Total assets amounted to 925,091.79 million yuan, representing a 60.02% increase year-on-year[45]. - The company reported a significant improvement in accounts receivable turnover, contributing to better cash recovery[31]. - The net cash flow from operating activities improved significantly, with a net amount of ¥87,586,956.50, compared to a negative cash flow in 2020[31]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 0.245 RMB per share, totaling approximately 102.46 million RMB, which represents 14.98% of the net profit attributable to shareholders for 2021[6]. - The company has a three-year shareholder return plan from 2020 to 2023[6]. Market and Industry Outlook - The management has outlined potential industry and market risks in the report, emphasizing the importance of investor awareness regarding investment risks[10]. - The company plans to continue expanding its market presence and optimizing its production and inventory management strategies[31]. - The company is expanding into new markets, including electric vehicle charging, photovoltaic power, and 5G communications, to develop new profit growth points[50]. - The market is expected to continue to concentrate on high-quality brands and innovative enterprises, leading to a dominance of leading companies in the industry[60]. Research and Development - Research and development expenses for the year were 5,345.64 million yuan, up 47.70% from the previous year[48]. - The company holds 139 patents and has 3 pending patent applications as of December 31, 2021[48]. - The company aims to enhance its competitive advantages in quality control, product R&D, and market responsiveness, focusing on high-end special cable products for structural upgrades[150]. - The company emphasizes technological innovation and aims to improve production efficiency and product quality through collaboration with academic institutions[154]. - Research and development efforts are being intensified, with a budget increase of 30% aimed at developing new technologies[197]. Corporate Governance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[5]. - The company has not violated decision-making procedures for external guarantees[11]. - The company established a long-term mechanism to prevent the controlling shareholders from occupying the company's assets and infringing on its interests[170]. - The company has implemented an investor relations management system to enhance communication with investors and address their inquiries effectively[176]. - The company strictly adheres to information disclosure regulations, ensuring timely and accurate reporting of its governance and operational status[175]. - The board of directors consists of 9 members, including 3 independent directors, and held 15 meetings in 2021 to ensure effective governance[173]. Social Responsibility and Recognition - The company actively engages in social responsibility initiatives, including disaster relief efforts and educational partnerships[53]. - The company has been recognized with multiple awards, including "Top 20 Most Competitive Enterprises in China's Cable Industry" and "Green Factory Demonstration"[44]. Financial Management - The company has improved its cash flow significantly, with net cash flow from operating activities turning positive after a previous deficit[101]. - The company's cash and cash equivalents increased by 241.91% to 2,441,794,104.85 CNY, reflecting good accounts receivable recovery and effective inventory management[124]. - The total procurement amount from the top five suppliers was 651,538,590.00 CNY, accounting for 33.17% of the annual total procurement[116]. - The company maintained stable financing activities with little change in bank borrowings, indicating a steady financing scale[104]. Strategic Acquisitions and Investments - The company completed the acquisition of a 64.9991% stake in Shanghai Nanyang-Tokikura Cable Co., Ltd. for ¥63.78 million[142]. - The company plans to invest up to ¥500 million in the construction of a special cable production and R&D base[144]. - Strategic acquisitions are planned to enhance product offerings, with an estimated investment of 500 million RMB allocated for this purpose[196]. Operational Efficiency - The company aims to improve operational efficiency, targeting a 5% reduction in costs through process optimization[198]. - The company has established a digital management platform to improve operational efficiency and decision-making processes[49]. Employee and Executive Shareholding - The total number of shares held by the company's executives increased from 261,151,400 to 262,128,600, a net increase of 977,200 shares[191]. - The company has implemented equity incentives for several executives, resulting in significant share acquisitions[188].

Financial Performance - The company's operating revenue for Q3 2021 was ¥5,455,403,190.30, representing a year-on-year increase of 93.49%[7] - The net profit attributable to shareholders for Q3 2021 was ¥169,432,147.23, an increase of 7.21% compared to the same period last year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2021 was ¥169,903,054.22, reflecting an 11.82% increase year-on-year[7] - Total operating revenue for Q3 2021 reached ¥12,933,016,269.93, a significant increase from ¥6,359,059,827.05 in the same period of 2020, representing a growth of approximately 103%[37] - Net profit for Q3 2021 was ¥508,487,989.97, up from ¥307,647,731.35 in Q3 2020, reflecting a growth of approximately 65%[41] - The total comprehensive income attributable to the parent company was approximately CNY 508.49 million, compared to CNY 307.65 million in the previous year, representing a year-over-year increase of 65.3%[43] Assets and Liabilities - The total assets at the end of Q3 2021 reached ¥9,623,779,411.01, marking a 66.47% increase from the end of the previous year[10] - The total assets as of Q3 2021 amounted to ¥9,623,779,411.01, compared to ¥5,781,149,879.88 in Q3 2020, marking an increase of around 66%[35] - Current liabilities totaled ¥4,982,123,136.06 in Q3 2021, up from ¥2,967,170,984.42 in Q3 2020, which is an increase of approximately 68%[35] - Non-current liabilities reached ¥1,005,125,780.85 in Q3 2021, compared to ¥43,463,928.77 in Q3 2020, showing a substantial increase[35] - Total liabilities were RMB 3,010,634,913.19, a decrease from RMB 3,117,480,459.05[53] Shareholder Information - The total number of common shareholders at the end of the reporting period is 18,409, with the top ten shareholders holding significant stakes[19] - The largest shareholder, Zhou Gonghua, holds 91,008,200 shares, representing 21.76% of the total shares[19] - The company has not disclosed any other significant relationships among the top shareholders beyond the known agreements among certain individuals[22] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date was -¥1,841,396,928.53, indicating a significant cash outflow[10] - Cash inflow from operating activities totaled CNY 11.45 billion, up from CNY 5.44 billion, indicating a growth of 109.3%[46] - Cash outflow for purchasing goods and services was CNY 12.04 billion, compared to CNY 6.59 billion, an increase of 82.5%[46] - The company reported a net increase in cash and cash equivalents of negative CNY 326.00 million, compared to negative CNY 224.29 million in the previous year[48] - The company's cash and cash equivalents as of September 30, 2021, amount to ¥524,594,258.91, down from ¥714,171,376.19 at the end of 2020, indicating a decrease of approximately 26.5%[28] Operational Strategy and Future Plans - The company attributed the slower growth in net profit to increased interest expenses from convertible bonds and higher provisions for credit impairment due to increased accounts receivable[10] - The company plans to continue innovating and participating in large infrastructure projects to drive future growth[16] - The company plans to issue non-financial corporate debt financing tools in the interbank bond market, with a total amount not exceeding ¥50 million[27] - The company plans to expand its market presence and invest in new technologies to drive future growth[35] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[44] Research and Development - Research and development expenses for Q3 2021 were ¥39,183,049.44, compared to ¥23,465,314.81 in Q3 2020, indicating a growth of approximately 67%[37] Equity and Capital Structure - The total equity attributable to shareholders reached ¥3,599,803,824.21 in Q3 2021, up from ¥2,770,514,966.69 in Q3 2020, reflecting an increase of about 30%[35] - A total of 1,831,900 restricted stock options were granted to 361 incentive targets at a price of ¥10.23 per share, increasing the registered capital from ¥400,580,000 to ¥418,197,000[24] - The company recognized a right-of-use asset and lease liability of RMB 106,845,545.86 due to the new leasing standards[52]