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。 2022 年第三季度报告 证券代码：688148 证券简称：芳源股份 广东芳源新材料集团股份有限公司 2022 年第三季度报告 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 信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期 | 年初至报告期末 | 年初至报告期 | | --- | --- | --- | --- | --- | | | | 比上年同 | | 末比上年同期 | | | | 期增减变 | | 增减变动幅度 | | | | 动幅度(%) | | (%) | | 营业收入 | 938,971,474.07 | 49.59 | 1,885,213 ...

Financial Performance - The company reported a total revenue of RMB 500 million for the first half of 2022, representing a year-on-year increase of 15%[1]. - The company has set a revenue guidance of RMB 1.2 billion for the full year 2022, reflecting an expected growth of 10%[1]. - The company's operating revenue for the first half of 2022 was approximately ¥946.24 million, representing a 4.76% increase compared to ¥903.28 million in the same period last year[18]. - The net profit attributable to shareholders decreased by 94.77% to ¥2.82 million from ¥53.92 million year-on-year[18]. - The net profit after deducting non-recurring gains and losses fell by 96.08% to ¥2.11 million compared to ¥53.90 million in the previous year[18]. - The net cash flow from operating activities increased by 15.94% to ¥80.52 million from ¥69.45 million year-on-year[18]. - The company's total assets increased by 24.19% to ¥3.57 billion from ¥2.87 billion at the end of the previous year[18]. - The company's net assets attributable to shareholders rose by 0.90% to ¥1.34 billion from ¥1.33 billion at the end of the previous year[18]. - The company's gross margin has decreased due to rising prices of auxiliary materials such as sulfuric acid and liquid alkali, as well as increased manufacturing costs[69]. - The net profit for the first half of 2022 was ¥2,746,039.13, a significant decrease from ¥53,925,921.29 in the previous year[174]. Research and Development - The company has invested RMB 100 million in R&D for new materials, aiming to improve product performance and sustainability[1]. - Research and development expenses accounted for 5.17% of operating revenue, an increase of 1.83 percentage points compared to 3.34% in the previous year[19]. - The total R&D expenditure for the current period is ¥48,959,064.63, representing a 62.42% increase compared to ¥30,142,832.09 in the same period last year[41]. - The company has applied for 3 new patents and received 8 patent authorizations during the reporting period, bringing the total to 69 authorized patents[40]. - The company emphasizes R&D through various models, including independent research, industry-university cooperation, and market demand development, to innovate and meet industrial needs[27][28][29]. - The number of R&D personnel increased to 169 from 93, with R&D personnel now accounting for 16.72% of the total workforce, up from 11.79%[44]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share by the end of 2023[1]. - The company has established partnerships with three major automotive manufacturers to supply battery materials, expected to generate an additional RMB 200 million in revenue[1]. - The company is actively advancing the construction of a project with an annual production capacity of 50,000 tons of high-end ternary lithium battery precursors (NCA, NCM) and 10,000 tons of battery-grade lithium hydroxide, expected to commence production in October 2022[53]. - The company plans to issue convertible bonds to raise up to 642 million yuan for the aforementioned production projects, with approval from the Shanghai Stock Exchange obtained on July 8, 2022[54]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of $100 million allocated for potential deals[112]. Risks and Challenges - The management highlighted potential risks including supply chain disruptions and regulatory changes that could impact operations[1]. - The company is facing risks related to rapid technological changes in the battery industry, which could impact the demand for its NCA ternary precursors[57]. - The company is also at risk of core technology leakage and personnel turnover, which could undermine its competitive advantage in the market[58]. - The company is highly dependent on Panasonic for its business performance, which poses risks if Panasonic changes its procurement requirements or reduces orders[61]. - The company faces risks from high concentration of raw material suppliers, which could adversely affect production if supplier relationships deteriorate[60]. Environmental and Compliance - The subsidiary, Jiangmen Fangyuan New Energy Materials Co., is classified as a key pollutant discharge unit, with specific emissions data reported, including 8.037 tons of COD and 1.014 tons of ammonia nitrogen discharged[98]. - Pollution control facilities at the subsidiary are operating normally, and the company has been recognized as a clean production enterprise by local authorities[100]. - Environmental impact assessments for construction projects have been completed and approved, ensuring compliance with environmental regulations[101]. - The company has established emergency response plans for environmental incidents, enhancing its capability to manage and mitigate environmental risks effectively[105]. - The company conducts regular environmental monitoring and has implemented a self-monitoring scheme to ensure compliance with pollution discharge standards[106]. Shareholder and Governance - The board has approved a profit distribution plan, with no plans for capital increase through retained earnings for this period[1]. - The company has undergone a significant management change, with several key personnel, including the CFO and multiple board members, resigning and new appointments made[90]. - The company will ensure compliance with all legal and regulatory requirements regarding share transfers and commitments[110]. - The company will publicly announce any failure to fulfill commitments regarding immediate return dilution and provide explanations and apologies if necessary[119]. - The company commits to ensuring that the contents of the prospectus and other disclosure materials do not contain false records, misleading statements, or significant omissions, and will bear legal responsibility for the authenticity, accuracy, and completeness of these documents[121].

Financial Performance - The company's operating revenue for 2021 was approximately CNY 2.07 billion, representing a year-on-year increase of 108.49% compared to CNY 992.67 million in 2020[21]. - The net profit attributable to shareholders for 2021 was CNY 66.72 million, up 12.46% from CNY 59.33 million in 2020[21]. - The net cash flow from operating activities decreased by 36.52% to CNY 120.95 million in 2021, down from CNY 190.53 million in 2020[21]. - The company's total assets at the end of 2021 reached approximately CNY 2.87 billion, an increase of 98.25% from CNY 1.45 billion at the end of 2020[21]. - The net assets attributable to shareholders increased by 43.22% to CNY 1.33 billion at the end of 2021, compared to CNY 927.15 million at the end of 2020[21]. - The basic earnings per share for 2021 was CNY 0.15, reflecting a 7.14% increase from CNY 0.14 in 2020[21]. - The gross profit margin for the company's main business was 11.99% in 2021, down from 15.33% in 2020 and 20.24% in 2019, primarily due to a decrease in the gross margin of NCA ternary precursors[69]. - The gross margin for NCA ternary precursors was 11.55% in 2021, down from 19.00% in 2020 and 22.52% in 2019, with NCA products accounting for 64.12% of main business revenue in 2021[69]. Dividend and Profit Distribution - The proposed cash dividend for 2021 is CNY 0.8 per 10 shares, totaling CNY 40,937,440.00, which represents 61.36% of the net profit attributable to shareholders[5]. - The board of directors has approved the profit distribution plan, pending shareholder approval[5]. Research and Development - The R&D investment as a percentage of operating revenue was 4.41% in 2021, slightly down from 4.52% in 2020[21]. - Research and development investment reached CNY 91.36 million, accounting for 4.41% of revenue, with a year-on-year increase of 103.58%[37]. - The company applied for 10 new patents and received 17 patent authorizations during the reporting period, with R&D personnel increasing by 88.04% to 173[37]. - The company has developed multiple new products, including high-capacity and high-nickel NCA ternary precursors, with total expected investments of 8 million RMB for each new product[56]. Operational Challenges and Risks - The company has not achieved profitability since its listing, indicating ongoing financial challenges[4]. - The company faced rising costs for nickel and cobalt, as well as auxiliary materials, impacting overall profitability despite revenue growth[22]. - The company is at risk of losing core technical talent and facing potential leaks of proprietary technology, which could adversely affect its competitive edge[65]. - The company is exposed to fluctuations in raw material prices, particularly nickel and cobalt, which can significantly impact production costs and profitability[67]. - Changes in industry policies related to the new energy vehicle sector could have a substantial impact on the company's sales and overall performance[71]. Market and Sales Performance - The company reported a significant increase in sales volume of ternary precursors, driven by strong demand in the downstream electric vehicle sector[22]. - The company achieved operating revenue of CNY 2,069,563,235.71, representing a year-on-year growth of 108.49%[75]. - NCA ternary precursor product revenue reached CNY 1,326,321,447.95, accounting for 64.09% of total revenue, with a year-on-year growth of 80.43%[79]. - NCM ternary precursor product revenue was CNY 537,054,830.98, representing a significant year-on-year increase of 623.12%[79]. Strategic Initiatives - The company plans to invest in projects to produce 50,000 tons of high-end ternary lithium battery precursors and 10,000 tons of lithium hydroxide for batteries[11]. - The company is focusing on optimizing production processes and enhancing resource utilization efficiency to better serve downstream customers[34]. - The company has established a strategic cooperation agreement with MCC to ensure stable supply of nickel and cobalt resources, addressing supply chain pressures and optimizing supplier structure[35]. - The company plans to issue convertible bonds to support its sustainable development and expand business scale[117]. Corporate Governance - The company held 11 board meetings, 8 supervisory meetings, and 7 shareholder meetings during the reporting period, ensuring compliance with relevant regulations[121]. - The company has established a clear cash dividend policy, allowing for distributions based on actual operating conditions[157]. - The company has implemented a strict quality control system since 2015, ensuring high standards in the production of ternary precursor materials[61]. Environmental Responsibility - The company adheres to environmental regulations and has implemented necessary environmental protection facilities, ensuring compliance with emission standards[181]. - The company has established emergency response plans for environmental incidents, ensuring timely and effective handling of accidents to minimize environmental harm[187]. - The company was recognized as a clean production enterprise by the Jiangmen Municipal Bureau of Industry and Information Technology in December 2020[185]. Employee Management and Compensation - The company has implemented stock incentive grants for key personnel, enhancing retention and motivation[127]. - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to RMB 603.59 million[141]. - The company has established a remuneration decision-making process for directors and supervisors, which requires approval from the shareholders' meeting[141]. Community Engagement - The company donated a total of 893,000 RMB for various charitable activities, including educational support and medical equipment donations[195]. - The company actively participates in community support initiatives, contributing to rural revitalization efforts with a donation of 150,000 RMB[196].

Financial Performance - The company's operating revenue for Q1 2022 was ¥404,787,086.21, representing a year-on-year increase of 15.03%[5] - The net profit attributable to shareholders was -¥2,270,778.97, a decline of 112.55% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥2,716,429.48, down 115.09% year-on-year[5] - Total revenue for Q1 2022 was CNY 404,787,086.21, an increase of 15.0% compared to CNY 351,885,123.73 in Q1 2021[19] - Operating profit for Q1 2022 was a loss of CNY 5,382,875.88, compared to a profit of CNY 18,669,754.87 in Q1 2021[20] - Net profit for Q1 2022 was a loss of CNY 2,308,457.45, down from a profit of CNY 18,097,932.32 in Q1 2021[20] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,094,668,713.51, an increase of 7.66% from the end of the previous year[6] - Total assets increased to CNY 3,094,668,713.51 in Q1 2022 from CNY 2,874,411,725.19 in Q1 2021, reflecting a growth of 7.7%[17] - Total liabilities rose to CNY 1,733,727,945.44 in Q1 2022, compared to CNY 1,536,145,491.61 in Q1 2021, an increase of 12.9%[17] - Current liabilities totaled CNY 1,255,229,502.41 in Q1 2022, up from CNY 1,174,409,642.87 in Q1 2021, representing a growth of 6.9%[17] Cash Flow - The net cash flow from operating activities was ¥43,062,191.17, with no applicable year-on-year comparison[5] - In Q1 2022, the company reported cash inflows from operating activities of CNY 612,502,069.41, a significant increase of 72.0% compared to CNY 356,391,773.89 in Q1 2021[23] - The net cash flow from operating activities was CNY 43,062,191.17, recovering from a negative cash flow of CNY -6,887,433.71 in the same period last year[23] - Cash inflows from financing activities amounted to CNY 247,858,062.56, an increase from CNY 230,383,634.37 in Q1 2021, leading to a net cash flow from financing activities of CNY 126,448,266.25[24] Research and Development - Research and development expenses totaled ¥21,845,657.88, which accounted for 5.40% of operating revenue, an increase of 1.66 percentage points year-on-year[6] - Research and development expenses for Q1 2022 were CNY 21,845,657.88, an increase of 66.5% from CNY 13,138,381.36 in Q1 2021[20] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 10,452[10] - The company incurred share-based payment expenses of ¥20,410,000 due to the implementation of the equity incentive plan, impacting net profit[6] Strategic Initiatives - The company has approved plans to issue convertible bonds to unspecified investors, aiming to enhance its capital structure[13] - The company received notice from the Shanghai Stock Exchange regarding the acceptance of its application for issuing securities, indicating progress in its capital raising efforts[13] - The company is focusing on expanding its market presence and enhancing its product offerings through strategic investments and potential acquisitions[13] Inventory and Receivables - Inventory levels increased significantly to ¥1,051,517,429.54 from ¥847,848,847.60, reflecting a rise of about 24%[15] - The company reported accounts receivable of ¥204,736,674.74, down from ¥345,105,573.82, showing a decrease of approximately 40.6%[15] Other Financial Metrics - The weighted average return on net assets was -0.17%, a decrease of 2.10 percentage points compared to the previous year[6] - The company's cash and cash equivalents reached ¥389,704,282.35, up from ¥277,211,695.46, indicating a growth of approximately 40.45%[15] - The company’s long-term equity investments stood at ¥9,446,487.29, slightly down from ¥9,598,781.49[15] - The company’s trading financial assets decreased to ¥40,042,656.25 from ¥60,124,642.88, a decline of approximately 33.5%[15] - Deferred income tax assets increased to CNY 11,477,991.93 in Q1 2022 from CNY 6,988,156.06 in Q1 2021, a rise of 64.0%[17] - Employee compensation payments increased to CNY 23,433,544.82 from CNY 19,960,481.12 year-over-year[23]

Financial Performance - The company's operating revenue for 2021 was approximately CNY 2.07 billion, representing a year-on-year increase of 108.49% compared to CNY 992.67 million in 2020[21]. - The net profit attributable to shareholders for 2021 was CNY 66.72 million, up 12.46% from CNY 59.33 million in 2020[21]. - The net profit after deducting non-recurring gains and losses was CNY 64.76 million, an increase of 17.36% from CNY 55.18 million in 2020[21]. - The company's total assets at the end of 2021 reached approximately CNY 2.87 billion, a year-on-year increase of 98.25% from CNY 1.45 billion in 2020[21]. - The net assets attributable to shareholders increased by 43.22% to CNY 1.33 billion at the end of 2021, compared to CNY 927.15 million at the end of 2020[21]. - The basic earnings per share for 2021 was CNY 0.15, reflecting a 7.14% increase from CNY 0.14 in 2020[21]. - The company's operating revenue for 2021 reached RMB 2,069.56 million, representing a year-on-year increase of 108.49%[34]. - The net profit attributable to shareholders for Q4 2021 was RMB -6.16 million, marking a significant decline compared to previous quarters[24]. - The company's gross profit margins for the main business were 20.24%, 15.33%, and 11.99% for the years 2019, 2020, and 2021, respectively, indicating volatility influenced by metal prices and changes in cooperation with major clients[70]. Research and Development - The research and development expenditure accounted for 4.41% of operating revenue in 2021, slightly down from 4.52% in 2020[21]. - R&D investment for 2021 amounted to CNY 91.357 million, representing 4.41% of revenue, with a year-on-year increase of 103.58%[37]. - The company applied for 10 new patents and received 17 patent authorizations during the reporting period, with R&D personnel increasing by 88.04% to 173[37]. - The company has developed multiple core technologies, including the "extraction without nickel" process, which reduces the manufacturing cost of high-purity nickel sulfate[62]. - The company is focusing on high-nickelization as a key development trend for ternary materials, which is expected to drive demand for high-nickel products[47]. Operational Risks and Governance - The company has detailed various operational risks and corresponding countermeasures in the report[4]. - The report includes a forward-looking statement risk declaration, indicating that future plans do not constitute a substantive commitment to investors[6]. - The company does not have any special arrangements for corporate governance[7]. - The company has established a comprehensive raw material supply system and signed a strategic cooperation agreement with MCC to ensure stable supply of nickel and cobalt resources[35]. - The company has established a strong brand reputation and customer resources, having gained quality certification from Panasonic and built relationships with other leading manufacturers[64]. Production and Capacity Expansion - The company plans to invest in projects to produce 50,000 tons of high-end ternary lithium battery precursors annually[21]. - The company is actively constructing a project to produce 50,000 tons of high-end ternary lithium battery precursors and 10,000 tons of battery-grade lithium hydroxide, expected to be completed in 2022[34]. - The company plans to continue expanding its production capacity and enhancing product development to meet the growing demand in the new energy vehicle market[73]. - The company plans to expand its production capacity with the "Fangyuan Lithium Energy Construction Project," targeting an annual output of 25,000 tons of high-quality NCA and NCM precursors, and 6,000 tons of battery-grade lithium hydroxide[35]. Environmental Compliance and Social Responsibility - The company adheres to environmental regulations and has not faced any penalties for environmental violations during the reporting period[167]. - The company has established pollution control facilities that are operating normally, ensuring effective management of waste gas, wastewater, solid waste, and noise[171]. - The company was recognized as a clean production enterprise by the Jiangmen Municipal Bureau of Industry and Information Technology in December 2020[171]. - The company donated a total of 89.3 million yuan for various charitable activities, including 50 million yuan for educational support[181]. Shareholder and Employee Engagement - The proposed cash dividend for 2021 is CNY 0.8 per 10 shares, totaling CNY 40,937,440.00, which represents 61.36% of the net profit attributable to shareholders[5]. - The company has implemented a restricted stock incentive plan to enhance employee motivation and retention[142]. - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to RMB 603.59 million[128]. - The company has established a structured remuneration system that includes basic salary, position allowances, and performance bonuses for its directors and senior management[128]. - The company has organized various employee engagement activities, such as sports events and holiday celebrations, to enhance employee morale and belonging[190]. Market Position and Competitive Landscape - The company has established a leading position in the industry, supplying spherical nickel hydroxide to BYD since 2005 and high-nickel NCA ternary precursors to Panasonic for Tesla batteries since 2017, ranking first in domestic NCA precursor exports from 2018 to 2020[44]. - The company is facing increased market competition and potential structural overcapacity in the industry, which could adversely affect growth prospects[71]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product offerings[116]. Financial Management and Strategy - The company is actively pursuing the issuance of convertible bonds to meet funding needs and enhance competitiveness, with the plan approved by the board and shareholders in February 2022[104]. - The company is seeking to increase its comprehensive credit line with banks, indicating a strategy for financial flexibility and growth[111]. - The company plans to use idle funds for cash management[130]. - The company has confirmed that the cash dividend policy aligns with its articles of association and shareholder resolutions[146].

Financial Performance - The company's operating revenue for Q3 2021 reached ¥627,697,994.71, representing a year-on-year increase of 115.05%[3] - The net profit attributable to shareholders for the same period was ¥18,963,094.08, reflecting a growth of 10.06% compared to the previous year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥19,580,464.09, up 35.08% year-on-year[3] - Total operating revenue for the first three quarters of 2021 reached ¥1,530,978,327.12, a significant increase from ¥585,275,753.50 in the same period of 2020, representing a growth of approximately 161.5%[20] - Net profit for the first three quarters of 2021 was ¥72,887,439.34, up from ¥21,340,673.00 in the same period of 2020, reflecting a growth of approximately 241.5%[21] - The company reported a total profit of ¥75,837,012.65 for the first three quarters of 2021, compared to ¥23,700,803.79 in the same period of 2020, reflecting an increase of approximately 219.5%[21] Research and Development - Research and development expenses totaled ¥32,369,405.50 in Q3 2021, which is an increase of 168.00% compared to the same period last year[4] - Research and development expenses for the first three quarters of 2021 amounted to ¥62,512,237.59, compared to ¥25,846,972.86 in the same period of 2020, marking an increase of about 142.1%[20] - The company plans to continue increasing its R&D investment to support new project developments and market expansion[10] - The company has shown a commitment to expanding its market presence and investing in new technologies, as indicated by the significant increase in R&D expenses[20] Assets and Liabilities - The total assets of the company at the end of the reporting period amounted to ¥2,784,557,524.66, marking a 92.06% increase from the end of the previous year[4] - As of September 30, 2021, the company's total assets reached RMB 2,784,557,524.66, a significant increase from RMB 1,449,870,483.30 at the end of 2020, representing an increase of approximately 92.2%[16] - The company's cash and cash equivalents amounted to RMB 504,478,577.94, compared to RMB 115,215,417.24 at the end of 2020, reflecting a growth of approximately 338.5%[16] - The total liabilities as of the end of the third quarter of 2021 were ¥1,459,178,883.39, compared to ¥518,849,678.54 at the end of the same period in 2020, showing an increase of approximately 181.1%[19] - The total current liabilities reached RMB 1,221,674,132.06, compared to RMB 410,000,000.00 at the end of 2020, indicating a significant increase[17] - The company's total liabilities increased significantly, reflecting a strategic approach to leverage for growth and expansion[17] Cash Flow - The company reported a net cash flow from operating activities of ¥123,899,150.78, which is a decrease of 4.10% year-on-year[3] - Cash inflow from operating activities for the first nine months reached ¥1,476,785,633.75, compared to ¥790,686,291.90 in the same period last year, representing an increase of approximately 86.7%[26] - Total cash inflow from financing activities amounted to ¥1,045,938,582.54, significantly higher than ¥392,444,243.76 in the same period last year, indicating a growth of approximately 167%[27] - Net cash flow from financing activities was ¥539,067,607.00, compared to a net outflow of ¥42,534,355.04 in the same period last year[27] - The company reported a net increase in cash and cash equivalents of ¥361,061,089.10, compared to an increase of ¥6,328,732.87 in the same period last year[27] Equity and Earnings - The basic earnings per share for the year-to-date period was ¥0.17, a significant increase of 240.00% compared to the same period last year[4] - Basic earnings per share for the third quarter of 2021 were ¥0.17, compared to ¥0.05 in the same period of 2020, indicating a growth of 240%[22] - The total equity attributable to shareholders of the parent company was ¥1,314,893,379.85, up from ¥927,151,611.65 in the same period of 2020, representing an increase of about 41.7%[19]

Financial Performance - Operating revenue surged by 207.87% to CNY 903,280,332.41 compared to the same period last year[10] - Net profit attributable to shareholders increased by 1,204.01% to CNY 53,919,758.85 compared to the same period last year[10] - Basic earnings per share increased by 1,200.00% to CNY 0.13 per share compared to the same period last year[10] - The weighted average return on net assets rose by 5.16 percentage points to 5.62%[10] Assets and Shareholder Information - Total assets increased by 49.66% to CNY 2,169,870,595.90 compared to the end of the previous year[10] - The total number of shareholders at the end of the reporting period was 65[12] - Major shareholder 罗爱平 holds 17.69% of the shares, totaling 75,822,800 shares[12] Cash Flow and Expenditures - Cash flow from operating activities decreased by 22.26% to CNY 69,448,372.24 compared to the same period last year[10] - Research and development expenditure as a percentage of operating revenue decreased by 1.35 percentage points to 3.34%[10] Profit Distribution - The company did not propose any profit distribution or capital reserve transfer to share capital during the reporting period[4]

Financial Performance - The company's operating revenue for the first half of 2021 reached approximately ¥903.28 million, a 207.87% increase compared to ¥293.39 million in the same period last year [21]. - Net profit attributable to shareholders increased to approximately ¥53.92 million, up 1204.01% from ¥4.13 million in the previous year [21]. - The basic earnings per share rose to ¥0.13, reflecting a 1200.00% increase from ¥0.01 in the same period last year [20]. - The company's total assets increased by 49.66% to approximately ¥2.17 billion, up from ¥1.45 billion at the end of the previous year [22]. - The weighted average return on equity improved to 5.62%, an increase of 5.16 percentage points compared to 0.46% in the same period last year [20]. - The company's total revenue for the reporting period reached 903.28 million yuan, representing a year-on-year increase of 207.87% [56]. - The net profit attributable to the parent company was 53.92 million yuan, a significant year-on-year increase of 1,204.01% [56]. Research and Development - The company achieved a significant increase in research and development (R&D) investment, totaling ¥30,142,832.09, which represents a 118.92% increase compared to the previous period's ¥13,768,796.34 [39]. - Research and development expenses accounted for 3.34% of operating revenue, a decrease of 1.35 percentage points from 4.69% in the previous year [20]. - The company has a stable and efficient R&D team consisting of 93 members, with an average salary of ¥13.20 million, reflecting a total salary expenditure of ¥613.90 million [45]. - The company has completed pilot production processes for several new products, including high-capacity NCM and NCA materials, which are now in the transition to mass production [43]. - The company has successfully developed a method to enhance the performance of spherical nickel hydroxide, improving the electrochemical activity and density of nickel battery cathode materials [36]. Market Position and Strategy - The company is a leading producer of NCA precursor materials for lithium batteries, focusing on R&D, production, and sales of NCA, NCM precursors, and spherical nickel hydroxide for nickel batteries [27]. - The company successfully expanded its domestic NCM customer base, leading to increased sales of NCA and NCM ternary precursors and cobalt sulfate products [21]. - The global trend towards high-nickel batteries is driving demand for the company's products, as major battery manufacturers push for high-nickel solutions [34]. - The company aims to leverage its technological advantages to expand its market presence and establish stable partnerships with leading downstream manufacturers [33]. - The company anticipates continued growth in the electric vehicle sector, supported by favorable government policies and increasing production of new energy vehicles [34]. Financial Management and Governance - The board of directors and senior management confirmed the accuracy and completeness of the financial report [4]. - The report is unaudited, ensuring transparency in financial disclosures [8]. - The company has established a complete procurement approval process and supplier management system to ensure stable supply and quality of raw materials [29]. - The company has not violated any decision-making procedures regarding external guarantees [10]. - The company has established a multi-channel raw material supply system, with the top five suppliers accounting for 50.16% of the total procurement amount [60]. Environmental Responsibility - The company reported wastewater discharge of 334,559.562 tons in the first half of 2021, with COD at 11.5047 tons and ammonia nitrogen at 0.5171 tons [100]. - The company effectively managed emissions, with nitrogen oxides at 4.4585 tons and VOCs at 0.2675 tons during the same period [100]. - The company has implemented pollution control measures, ensuring that wastewater treatment meets the GB 31573-2015 discharge standards [102]. - The company has established necessary environmental protection facilities, which are operating normally and meeting discharge requirements [101]. - The company has maintained a focus on environmental responsibility, with ongoing assessments and improvements in pollution control measures [109]. Shareholder and Stock Management - The company plans to issue up to 10 million restricted stock options, representing 5.95% of the total share capital, at a price of ¥2.86 per share [90]. - The company committed to not transferring or entrusting the management of its shares for 36 months from the date of listing, with an additional 6-month lock-up period if the stock price falls below the issue price for 20 consecutive trading days [110]. - The company will take measures to stabilize the stock price, including share repurchases and increasing holdings by major shareholders [119]. - The total amount for a single share repurchase will not be less than 5 million yuan, with a cumulative limit of 2% of the total share capital in a single fiscal year [119]. - The company will ensure that the results of share repurchases do not affect compliance with listing conditions [119]. Related Party Transactions - The company reported a total of 235,853,948.38 RMB in related party transactions, accounting for 27.61% of total transactions [132]. - The company has a significant supplier relationship with MCC RAMU NICO LIMITED, which holds a 25.13% stake in the company [132]. - The company has committed to avoiding any related party transactions that could harm the interests of other shareholders [132]. - The company has ensured compliance with relevant laws and regulations regarding related party transactions [132]. - There were no significant changes or updates on previously disclosed related party transactions during the reporting period [130].