Financial Performance - The company reported a revenue of RMB 500 million for the first half of 2021, representing a year-on-year increase of 20%[13]. - The net profit attributable to shareholders for the same period was RMB 100 million, up 15% compared to the previous year[13]. - The company's operating revenue for the first half of the year reached ¥2,210,958,600.19, representing a year-on-year increase of 17.99%[20]. - Net profit attributable to shareholders decreased by 57.07% to ¥39,737,597.09 compared to the same period last year[23]. - The net profit after deducting non-recurring gains and losses fell by 65.37% to ¥29,100,297.90[20]. - Basic earnings per share decreased by 59.09% to ¥0.09, primarily due to the reduction in net profit and an increase in total shares[22]. - The company's total assets increased by 8.05% to ¥4,658,388,521.47 compared to the end of the previous year[20]. - The company's total liabilities increased to ¥1,691,290,098.71 as of June 30, 2021, compared to ¥1,349,121,218.73 at the end of 2020, marking an increase of 25.38%[184]. - The company's total assets reached ¥3,441,277,215.26 as of June 30, 2021, up from ¥3,126,026,229.59 at the end of 2020, reflecting a growth of 10.06%[184]. - The company's total equity attributable to shareholders was RMB 1,683,303,505.08, a slight decrease from RMB 1,689,494,271.19, reflecting a decline of about 0.66%[180]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share by the end of 2022[13]. - The company aims for a revenue growth target of 15% for the full year 2021, with a focus on increasing operational efficiency[13]. - The company is actively expanding its market presence and has developed a unique core technology system for modified plastics[30]. - The company is focused on enhancing product performance and expanding its market presence through innovative material solutions[51]. - The company is considering potential acquisitions to bolster its market position, with discussions ongoing regarding G potential targets[146]. - The company plans to continue expanding its market presence and exploring new investment opportunities[155]. Research and Development - The company has allocated RMB 20 million for R&D in advanced materials technology for the upcoming fiscal year[13]. - Research and development expenses accounted for 3.60% of operating revenue, down from 4.81% in the previous year[22]. - The company has established a "make-to-order" production model based on customer orders, ensuring tailored product formulations to meet specific performance requirements[40]. - The company has achieved a total R&D investment of ¥79,670,899.32, a decrease of 11.69% compared to the previous period's ¥90,216,654.13[56]. - The company obtained 11 authorized invention patents and filed 22 new invention patent applications during the reporting period, bringing the total number of authorized patents to 101[54]. - The company has developed low-emission materials for automotive interior applications, with a focus on high-performance and flame-retardant properties[61]. Product Development and Innovation - New product development includes a line of eco-friendly materials, expected to launch in Q4 2021, projected to contribute an additional RMB 50 million in revenue[13]. - The company has developed spray-free materials that offer high gloss and scratch resistance, applicable in automotive and home appliance industries, providing a cost-effective and environmentally friendly alternative to traditional spray coatings[35]. - The company produces high-stability flame-retardant materials, including halogen-free and halogen-containing types, primarily used in home appliances, communications, and automotive sectors[33]. - The company has developed a low-emission stabilizer system that significantly reduces the generation of organic small molecules during processing, achieving a substantial decrease in TVOC and haze levels[48]. - The company has developed a new fire-retardant material that has reached the verification stage, with a total investment of $3,421 million and $384.18 million in the current period[59]. Financial Health and Risks - The company's accounts receivable for the first half of 2021 amounted to 996.61 million yuan, highlighting potential risks in cash flow if customer financial conditions deteriorate[84]. - The company's inventory value as of June 2021 was 564.06 million yuan, representing 12.11% of total assets, indicating a need for effective inventory management[85]. - The company's asset-liability ratio was 63.87% in the first half of 2021, reflecting a high level of financial leverage and associated repayment risks[87]. - The net cash flow from operating activities was negative 58.75 million yuan in the first half of 2021, raising concerns about liquidity and operational sustainability[89]. - The company's direct material costs accounted for over 90% of production costs, with a 5% increase in raw material prices expected to impact main business costs by 3 to 4 percentage points[83]. Environmental Compliance - The company is recognized as a key pollutant discharge unit by Hefei Ecological Environment Bureau, focusing on environmental protection compliance[119]. - Major pollutants include non-methane total hydrocarbons and particulate matter, with emissions standards of ≤60 mg/m³ and ≤20 mg/m³ respectively, all meeting regulatory requirements[119]. - Wastewater treatment complies with standards for chemical oxygen demand (≤350 mg/L), ammonia nitrogen (≤35 mg/L), and suspended solids (≤250 mg/L), achieving compliance[119]. - The company has established an emergency response plan for environmental incidents, filed with the Hefei High-tech Zone Ecological Environment Bureau[122]. - The company continues to prioritize environmental compliance in its operational strategies and project developments[120]. Shareholder and Governance - The company has committed to not transferring or entrusting the management of shares held before the IPO for 12 months post-listing[137]. - Major shareholders are restricted from transferring shares for 36 months following the completion of capital increase registration[138]. - The company has outlined specific commitments regarding share transfers and management for both individual and institutional shareholders[137]. - There are no reported failures in fulfilling the commitments made by the controlling shareholders and major investors[137]. - The company has established clear guidelines for the handling of dividends and stock splits in relation to the issue price[137].

Financial Performance - Operating revenue for the period reached CNY 1,038,900,985.14, a 61.14% increase year-on-year[6] - Net profit attributable to shareholders was CNY 28,027,484.78, a significant recovery from a loss of CNY 2,361,135.86 in the same period last year[6] - Basic earnings per share increased to CNY 0.06 from a loss of CNY 0.01 in the previous year[6] - The company reported a significant increase in investment income, with a loss of -¥1,722,133.91 compared to -¥171,586.00 in the previous year, attributed to increased discount business[15] - Net profit for Q1 2021 was ¥28,027,484.78, compared to a net loss of ¥2,361,135.86 in Q1 2020, marking a turnaround[28] - The total comprehensive income for Q1 2021 was ¥15,171,764.84, a significant recovery from a loss of ¥692,563.48 in the same period last year[30] Assets and Liabilities - Total assets increased by 6.00% to CNY 4,569,870,356.82 compared to the end of the previous year[6] - Total current assets increased to ¥2,924,590,994.16 as of March 31, 2021, up from ¥2,716,316,883.74 on December 31, 2020, representing a growth of approximately 7.67%[19] - Total liabilities reached ¥2,852,348,600.85, up from ¥2,621,777,577.20, reflecting an increase of about 8.8%[21] - Non-current assets totaled ¥1,645,279,362.66, up from ¥1,594,954,964.65, showing an increase of about 3.1%[20] - The company's total liabilities increased to ¥1,632,356,305.16 in Q1 2021 from ¥1,349,121,218.73 in Q1 2020, reflecting a growth of 20.9%[27] Cash Flow - The net cash flow from operating activities was negative at CNY -80,605,950.22, an improvement from CNY -160,321,004.68 in the previous year[6] - Operating cash inflow for Q1 2021 was ¥878,583,143.06, up from ¥632,555,532.29 in Q1 2020, indicating a 39% increase year-over-year[32] - The company experienced a net cash outflow from operating activities of ¥80,605,950.22 in Q1 2021, an improvement from a net outflow of ¥160,321,004.68 in Q1 2020[32] - The net cash flow from financing activities was positive at ¥111,268,318.22 in Q1 2021, compared to a modest gain of ¥16,261,787.16 in Q1 2020[33] - The company received ¥482,653,003.34 in cash from borrowings in Q1 2021, up from ¥249,000,000.00 in Q1 2020, indicating increased financing activity[33] Shareholder Information - The number of shareholders reached 8,658, with the top ten shareholders holding a significant portion of shares[12] - The largest shareholder, He Qianchang, holds 30.61% of the shares, totaling 140,571,428 shares[12] Expenses - Research and development expenses accounted for 3.73% of operating revenue, down from 4.86%[8] - Operating costs increased by 63.25% to ¥903,136,561.96 from ¥553,217,000.49, primarily due to the rise in revenue[15] - The income tax expense for the period was ¥273,568.96, an increase of 87.59% compared to ¥145,831.75, reflecting the growth in performance[15] - Sales expenses increased by 32.75% to ¥28,524,383.19, mainly due to higher logistics costs[15] - Research and development expenses for Q1 2021 were ¥38,706,961.46, up 23.6% from ¥31,345,026.39 in Q1 2020[27]

Financial Performance - The company achieved operating revenue of 4,123.75 million yuan, a year-on-year increase of 2.29%[88]. - The net profit attributable to the parent company was 182.21 million yuan, representing a year-on-year growth of 67.38%[88]. - Total assets at the end of the reporting period were 4,311.72 million yuan, up 2.02% from the beginning of the year[88]. - The equity attributable to the parent company increased by 43.24% to 1,689.49 million yuan[88]. - The company's operating revenue for 2020 was approximately CNY 4.12 billion, representing a year-on-year increase of 2.29% compared to CNY 4.03 billion in 2019[22]. - The net profit attributable to shareholders for 2020 was approximately CNY 182.21 million, a significant increase of 67.38% from CNY 108.86 million in 2019[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately CNY 160.46 million, up 60.72% from CNY 99.83 million in 2019[22]. - The basic earnings per share for 2020 was CNY 0.44, reflecting a 46.67% increase from CNY 0.30 in 2019[23]. - The weighted average return on equity for 2020 was 14.04%, an increase of 3.60 percentage points from 10.44% in 2019[24]. Dividend Distribution - The company plans to distribute a cash dividend of CNY 1.00 per 10 shares, totaling CNY 45,928,363.20, which accounts for 25.21% of the net profit attributable to shareholders for the year[5]. - The proposed cash dividend for 2020 is RMB 1.00 per 10 shares, totaling approximately RMB 45,928,363.20, which represents 25.21% of the net profit attributable to shareholders[176][177]. - The cash dividend payout ratio for 2020 is below 30% due to the company's focus on rapid development and market expansion[177]. - The company has implemented a clear and compliant dividend distribution policy, ensuring the protection of minority shareholders' rights[178]. - The company will not conduct capital reserve transfers or issue bonus shares for the 2020 profit distribution[176]. Audit and Compliance - The company reported a standard unqualified audit opinion from Tianjian Accounting Firm, ensuring the accuracy and completeness of the financial report[4]. - The company has no non-standard audit opinions from the accounting firm[188]. - The company has no major litigation or arbitration matters in the current year[190]. - There are no significant accounting errors or corrections reported for the current year[188]. - The company has no outstanding issues regarding the occupation of funds or collection progress[187]. Risk Management - The company has identified and described various risks in the report, urging investors to pay attention to these factors[4]. - The company’s future plans and development strategies involve uncertainties, and investors are advised to be cautious regarding investment risks[6]. - The company plans to enhance its internal control systems and risk management mechanisms to improve overall governance and operational efficiency[173]. Research and Development - The company achieved a total R&D investment of ¥168,849,756.40 in 2020, a slight increase of 0.06% compared to ¥168,744,497.95 in the previous year[68]. - R&D investment accounted for 4.09% of total revenue, a decrease of 0.10 percentage points from 4.19% in the previous year[68]. - The company holds a total of 84 patents, including 46 authorized invention patents and 38 utility model patents[89]. - The company has applied for a total of 87 patents during the reporting period, indicating a strong focus on innovation[66]. - The company is developing a new generation of antibacterial materials, currently in the small-scale testing phase, with a total investment of RMB 3,520.00 million and a cumulative investment of RMB 1,048.06 million[73]. Market Position and Strategy - The company is one of the largest modified plastics enterprises in China, focusing on R&D, production, and sales of high-performance materials[34]. - The modified plastics industry in China has significant growth potential, with expanding applications in various sectors, including aerospace and military[44]. - The company aims to leverage national strategies such as domestic circulation and carbon neutrality to drive sustainable growth over the next three to five years, focusing on technological innovation and market expansion[166]. - The company will actively pursue customer development, aiming to increase market share in existing sectors while expanding into emerging markets like smart home appliances and new energy vehicles[170]. Production and Operations - The company has three production bases in Anhui, Guangdong, and Chongqing, forming a nationwide delivery network[83]. - The company has a design capacity of 218,000 tons at the Hefei base, with a capacity utilization rate of 82.82%[155]. - The Chongqing base has a design capacity of 42,000 tons and a capacity utilization rate of 92.77%, with an additional 10,000 tons under construction expected to be completed by June 2021[155]. - The company has added 2 production lines at the Hefei and Chongqing bases, which is expected to increase annual capacity by 12,000 tons[156]. Financial Health - The company's asset-liability ratios for 2018-2020 were 72.63%, 72.09%, and 60.81%, indicating a high level of financial leverage[101]. - The company raised net funds of RMB 327,821,400 through its listing on the Sci-Tech Innovation Board on November 18, 2020[93]. - The company reported a net cash outflow from operating activities of RMB 88,300,710.36, a decline of 119.16% compared to the previous year[110]. - The financing activities generated a net cash inflow of RMB 241,957,230.92, an increase of 379.64% year-on-year due to the successful issuance of new shares[110]. Customer and Supplier Relationships - The company has established long-term stable partnerships with major clients in the home appliance sector, including Midea, TCL, and Philips, and has expanded its client base to emerging brands like Xiaomi and Bear Electric[49]. - The company is a supplier to well-known automotive manufacturers such as BYD and Great Wall Motors, with its products integrated into the supply chains of SAIC Volkswagen and FAW Volkswagen[49]. - The top five customers accounted for 38.67% of total sales, with the largest customer contributing ¥121,757.86 million, or 29.52%[119]. - The top five suppliers represented 29.35% of total purchases, with the largest supplier accounting for ¥48,565.84 million, or 15.17%[122]. Corporate Governance - The company has no major issues related to the integrity of its controlling shareholders or actual controllers during the reporting period[190]. - The company has adhered to commitments regarding share repurchase and price stabilization measures[186]. - The company has received approval for the 2020 profit distribution plan from the board and supervisory committee, pending shareholder meeting approval[177].