西安凯立新材料股份有限公司投资者关系 活动记录表 编号：2022-002 | --- | --- | --- | |------------------|----------------------------------------------------------|--------------| | | | | | | □特定对象调研 | □分析师会议 | | | □媒体采访 | 业绩说明会 | | 投资者关系活动类 | □新闻发布会 | □路演活动 | | 别 | □现场参观 | | | | | | | | | | | | 其他（电话交流会） | | | | 天风证券：郭建奇 中信证券：肖锐 | | | 参与单位名称及 | 民生金属：刘海荣、邱祖学 | | | 人员姓名 | 华安证券：邓承佯 西部证券：杨晖、王鲜俐 中信建投：邓天泽 | | | 时间 | 2022 年03月 31日至2022 | 年04月 09 日 | | 地点 | 2021 年年度业绩说明会、电话会交流 | | | | 财务总监兼董事会秘书：王世红 | | | | 证券事务代表：石婧文、曹渤杨 | | | 公司接待人员姓名 | | ...

西安凯立新材料股份有限公司投资者关系 活动记录表 编号：2022-003 | --- | --- | --- | |---------------------|------------------------------|-------------| | | | | | | | | | | □特定对象调研 | □分析师会议 | | | □媒体采访 | 业绩说明会 | | 投资者关系活动类 别 | □新闻发布会 | □路演活动 | | | □现场参观 | | | | 其他（电话交流会） | | | | 天风证券：郭建奇 | | | | 海通证券：刘蓬勃 | | | | 瀑布资管：杨森、孙左君 | | | | 招商基金：张西林 | | | | 博裕资本：张少飞、陈云章 | | | | 睿远基金：朱璘、崔文琦 | | | | 中欧基金：余科苗 | | | 参与单位名称及 | 上海弘润资产：曹紫涛 | | | 人员姓名 | 华夏基金：韩霄、张景松、张木 | | | | 天弘基金：刘智超 | | | | 刘智超：王天洋 | | | | 中泰证券：刘强 | | | | 摩根士丹利华鑫基金：段一帆 | | | | 太平养老 ...

Share Capital and Dividends - The company plans to increase its total share capital from 93,360,000 shares to 130,704,000 shares by distributing 0.4 shares for every share held, resulting in a total increase of 37,344,000 shares[5]. - As of June 30, 2022, the company reported a total share capital of 93,360,000 shares, which will be adjusted based on the final registration results from the China Securities Depository and Clearing Corporation[5]. - The company has not proposed any cash dividends or bonus shares for the reporting period, focusing on capital reserves for growth[5]. - The company will not distribute cash dividends or bonus shares for the 2022 half-year, opting instead for a capital reserve transfer of 4 shares for every 10 shares held[89]. Financial Performance - The company's operating revenue for the first half of 2022 was ¥846,863,947.59, representing an increase of 18.83% compared to ¥712,645,856.07 in the same period last year[19]. - The net profit attributable to shareholders for the same period was ¥128,217,503.61, a growth of 54.81% from ¥82,821,133.88 year-on-year[19]. - The net cash flow from operating activities increased by 51.32%, reaching ¥42,681,237.83 compared to ¥28,205,370.33 in the previous year[19]. - The total assets at the end of the reporting period were ¥1,279,547,801.09, up 10.73% from ¥1,155,576,436.07 at the end of the previous year[20]. - The company's basic earnings per share for the first half of 2022 was ¥1.37, an increase of 16.10% from ¥1.18 in the same period last year[20]. - The gross profit margin improved by 3.50% year-on-year due to changes in product structure[20]. - The weighted average return on equity decreased by 7.65 percentage points to 14.40% compared to 22.05% in the previous year[20]. Research and Development - The research and development expenditure accounted for 3.02% of operating revenue, slightly down from 3.04% in the previous year[20]. - The total R&D investment for the current period is approximately ¥25.54 million, representing a 17.94% increase compared to the previous year[38]. - The company has developed over 300 types of precious metal catalysts, focusing on platinum, palladium, rhodium, and other precious metals as active components[24]. - The company is continuously enhancing the research and development of new types of catalysts alongside its core business in precious metal catalysts[24]. - The company has received multiple awards, including the National "Little Giant" enterprise recognition and the first prize of the Shaanxi Provincial Science and Technology Progress Award[30]. - The company has established a comprehensive research and development mechanism, combining independent and collaborative research to enhance its technological capabilities[29]. - The company has developed advanced catalysts for wastewater treatment and organic waste gas purification, achieving a leading performance level domestically[33]. Environmental Compliance - The company has maintained compliance with environmental standards, with emissions of particulate matter and nitrogen oxides meeting regulatory limits[92]. - The company has implemented effective pollution control facilities that operate in line with production capacity, ensuring environmental compliance during operations[94]. - The company has received ISO14001 certification for its environmental management system, demonstrating its commitment to environmental responsibility[98]. - The company has developed a self-monitoring plan for emissions, engaging qualified institutions for monitoring air, water, noise, and soil[97]. - The company has established an emergency response plan for environmental incidents, which has been filed with local environmental authorities[96]. - The company is focused on energy efficiency and has committed to research and development of greener technologies to reduce carbon emissions[100]. Shareholder Commitments and Regulations - The company committed to not transferring or entrusting the management of its shares for 36 months from the date of its initial public offering[103]. - Major shareholders must announce their share reduction plans 15 trading days in advance before selling shares through centralized bidding[103]. - The company will comply with any new regulations from the China Securities Regulatory Commission or the Shanghai Stock Exchange regarding share transfer commitments[105]. - The company’s major shareholders are subject to a 25% annual limit on share transfers during their tenure as directors or senior management[105]. - The company will ensure that any gains from violations of share transfer commitments are returned to the issuer[105]. - The company has established a framework for managing share transfers to ensure compliance with regulatory standards[107]. Market Expansion and Strategic Initiatives - The company is actively exploring the recycling of used precious metal catalysts to stabilize raw material supply amid global shortages[67]. - The company is expanding its market presence in basic chemicals, new energy, and environmental sectors to diversify its product and technology offerings[66]. - The company is considering potential acquisitions to bolster its market position, with a focus on J companies in the industry[123]. - Market expansion strategies include entering H new regions, which are projected to increase market share by I%[123]. - The company is investing in R&D for new technologies, with a budget allocation of G million aimed at enhancing product offerings[123]. Financial Guidance and Future Outlook - The company provided a positive outlook for the next quarter, projecting a revenue growth of B% and an expected user base expansion to C million[123]. - Financial guidance for the full year has been adjusted, with an expected total revenue of N million, reflecting a P% increase from previous estimates[123]. - The company expressed confidence in future development and intends to reduce shareholdings after the lock-up period, following legal regulations[111]. Related Party Transactions - The company reported a total of 4,525.00 million RMB in expected related party transactions, with actual transactions amounting to 567.46 million RMB during the reporting period[135]. - The company purchased raw materials and fuel from its controlling shareholder for 0.41 million RMB, against an expected amount of 275.00 million RMB[135]. - The company received services from Northwest Nonferrous Metal for 24.19 million RMB, compared to an expected amount of 280.00 million RMB[135]. - The company sold products and provided services to its research institute and its controlled companies for 519.28 million RMB, against an expected amount of 3,970.00 million RMB[135].

Financial Performance - The company's operating revenue for 2021 was CNY 158,933.00 million, representing a 51.05% increase compared to CNY 105,218.20 million in 2020[22]. - The net profit attributable to shareholders for 2021 was CNY 16,255.55 million, a 54.34% increase from CNY 10,532.35 million in 2020[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 14,355.59 million, up 46.24% from CNY 9,816.57 million in 2020[22]. - The company's total assets increased by 126.80% to CNY 115,557.64 million at the end of 2021, compared to CNY 50,952.37 million at the end of 2020[22]. - The net assets attributable to shareholders grew by 151.90% to CNY 84,203.40 million at the end of 2021, compared to CNY 33,427.73 million at the end of 2020[22]. - Basic earnings per share for 2021 were CNY 1.99, a 32.67% increase from CNY 1.50 in 2020[23]. - The company's main business revenue from homogeneous and heterogeneous catalysts grew by 54.08% to RMB 158,022.95 million, with a notable increase in sales volume driven by strong downstream demand[110]. - The gross margin for the main business decreased by 1.01 percentage points to 16.19%[109]. Dividend Policy - The company plans to distribute a cash dividend of 10.00 RMB per 10 shares, totaling approximately 93.36 million RMB (including tax) based on a total share capital of 93,360,000 shares as of December 31, 2021[5]. - The proposed cash dividend for 2021 is RMB 10.00 per 10 shares, totaling RMB 93.36 million, which represents 68.83% of the distributable profit[195]. - In the first half of 2021, the company distributed a cash dividend of RMB 6.00 per 10 shares, amounting to RMB 56.02 million[194]. - The company has not proposed any stock dividend plans, focusing solely on cash dividends for profit distribution[195]. Research and Development - The company invested 5,060.01 million RMB in R&D during the reporting period, resulting in 26 new patents, including 25 invention patents[34]. - The company’s R&D investment as a percentage of operating revenue was 3.18% in 2021, slightly up from 3.17% in 2020[23]. - The company has established a research collaboration with Fudan University for the preparation of functional mesoporous carbon-supported precious metal catalysts[34]. - The company has developed a series of catalytic synthesis technologies, including over 30 types of catalysts for pharmaceutical and agricultural intermediates, some of which have been authorized for downstream customer use[53]. - The company has developed advanced catalysts for wastewater treatment and organic waste gas purification, achieving a leading position in domestic performance levels[54]. - The company has developed high-performance catalysts for wastewater treatment, achieving a COD removal rate of ≥90% and ammonia nitrogen removal rate of ≥90%[74]. - The company has developed non-precious metal catalysts, achieving good progress in nickel-based, copper-based, and titanium catalysts[136]. Market Expansion and Strategy - The company plans to continue expanding its market presence and enhancing its product offerings in the catalyst sector[24]. - The company is actively responding to national strategies for carbon peak and carbon neutrality, accelerating the localization of imported catalysts and addressing critical issues in related fields[48]. - The company is focusing on expanding its market presence by developing new products and technologies, particularly in the field of catalyst applications[74]. - The company is considering strategic acquisitions to bolster its market position, with a budget of $100 million allocated for potential mergers[171]. - The company aims to improve production efficiency by over 25% through optimization of production processes[64]. - The company is focused on domestic demand for basic chemical precious metal catalysts, targeting key products such as platinum-alumina catalysts for alkane dehydrogenation and palladium-alumina catalysts for coal-to-ethylene glycol, to achieve import substitution[156]. Governance and Compliance - The audit report issued by Xinyong Zhonghe Accounting Firm confirms the financial statements' accuracy and completeness, providing assurance to stakeholders[5]. - There are no violations of decision-making procedures regarding external guarantees, indicating strong governance practices[7]. - The company has established a comprehensive governance structure, including a board of directors and various committees, to ensure effective decision-making and oversight[161]. - The company has successfully adhered to all relevant laws and regulations, ensuring robust corporate governance practices[162]. - The company has not reported any significant issues regarding independence from its controlling shareholders, ensuring operational autonomy[162]. Operational Risks and Management - The company has detailed various operational risks and corresponding mitigation measures in the report, emphasizing a proactive approach to risk management[4]. - The report includes a forward-looking statement risk disclaimer, cautioning investors about potential uncertainties in future plans and strategies[6]. - The company faces risks related to the volatility of precious metal prices, which can account for over 90% of production costs[94]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties, ensuring financial integrity[7]. Employee and Management Structure - The company employs a total of 230 staff, including 88 production personnel, 19 sales personnel, and 70 R&D personnel[190]. - The number of R&D personnel increased to 70, representing 30.43% of the total workforce, with an average salary of 29.43万元[81]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 7,209,400 RMB[178]. - The total remuneration for core technical personnel at the end of the reporting period was 6,960,200 RMB[178]. - The company has a structured training program aimed at enhancing employee skills and safety awareness, with annual training plans released every April[192]. Financial Position and Cash Flow - The company's operating cash flow showed significant fluctuations, with a negative cash flow of -13,964.72 million RMB in Q1 and a positive cash flow of 24,936.27 million RMB in Q4[25]. - The net cash flow from operating activities was RMB 4,780.83 million, up 4.23% compared to the previous year[103]. - The net cash flow from financing activities surged to RMB 40,134.83 million, primarily due to increased funds raised from share issuance[106]. - The investment activities resulted in a net cash outflow of RMB 15,322.22 million, significantly higher than the previous year's outflow of RMB 2,143.85 million[105]. Customer and Supplier Relations - The top five customers generated sales of 472.59 million RMB, accounting for 29.91% of total annual sales, with no sales to related parties[118]. - The top five suppliers accounted for 820.64 million RMB in purchases, representing 59.33% of total annual purchases, with no purchases from related parties[120]. - The company has nearly 1,000 product users, with over 100 listed companies among them, indicating a strong customer base[87]. Future Outlook - The company provided a positive outlook for the next quarter, projecting revenue growth of 25%[171]. - Future outlook includes plans for market expansion and the introduction of new products, aiming for a 22.39% increase in market share[169]. - The company aims to achieve a revenue growth target of 101.39% in the upcoming quarter through strategic marketing efforts[169].

Financial Performance - The company's operating revenue for Q1 2022 was ¥313,763,533.45, a decrease of 2.26% compared to the same period last year[2]. - Net profit attributable to shareholders was ¥55,584,727.42, an increase of 91.45% year-over-year[2]. - The net profit after deducting non-recurring gains and losses was ¥55,420,449.71, reflecting a growth of 100.24% compared to the previous year[2]. - Basic and diluted earnings per share were both ¥0.60, representing an increase of 43.55% year-over-year[2]. - Total operating revenue for Q1 2022 was CNY 313,763,533.45, a decrease of 2.4% compared to CNY 321,009,469.74 in Q1 2021[13]. - Net profit for Q1 2022 reached CNY 55,584,727.42, an increase of 91.7% compared to CNY 29,033,788.05 in Q1 2021[14]. - Earnings per share for Q1 2022 were CNY 0.60, up from CNY 0.41 in Q1 2021[15]. - Operating profit for Q1 2022 increased to ¥63.58 million, up 97.9% from ¥32.15 million in Q1 2021[27]. - Net profit for Q1 2022 was ¥55.19 million, representing a 88.1% increase from ¥29.32 million in Q1 2021[27]. - Basic earnings per share for Q1 2022 were ¥0.59, up from ¥0.42 in Q1 2021[27]. Research and Development - Research and development expenses totaled ¥11,460,520.14, accounting for 3.65% of operating revenue, an increase of 0.30 percentage points from the previous year[3]. - Research and development expenses for Q1 2022 were CNY 11,460,520.14, compared to CNY 10,757,040.93 in Q1 2021, indicating a focus on innovation[14]. - Research and development expenses rose to ¥11.46 million in Q1 2022, compared to ¥10.76 million in Q1 2021, indicating a focus on innovation[26]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,335,334,682.98, a 15.56% increase from the end of the previous year[3]. - The company's current assets totaled ¥1,096,503,960.25, up from ¥936,727,159.44, indicating an increase of about 17.1%[11]. - The total liabilities of the company increased, with accounts payable rising to ¥161,363,932.90 from ¥58,919,208.63, a significant increase of approximately 173.5%[11]. - The total liabilities as of Q1 2022 amounted to CNY 437,886,520.52, compared to CNY 313,542,441.02 in Q1 2021, reflecting a significant increase[13]. - The company reported a total asset value of 1,252,783,264.83 RMB as of March 31, 2022, compared to 1,073,771,098.21 RMB at the end of December 2021[24]. - The total liabilities increased to 368,400,126.91 RMB in Q1 2022 from 244,402,840.65 RMB in Q4 2021[24]. Cash Flow - The company reported a net cash flow from operating activities of ¥4,026,322.32, which was not applicable for year-over-year comparison[2]. - Cash inflow from operating activities in Q1 2022 was CNY 229,521,513.95, a decrease from CNY 242,533,659.22 in Q1 2021[17]. - In Q1 2022, the net cash flow from operating activities was 4,026,322.32 RMB, a significant improvement from -139,647,228.43 RMB in Q1 2021[18]. - The cash outflow from investing activities was 173,436,416.50 RMB in Q1 2022, compared to 32,116,042.44 RMB in Q1 2021[18]. - The company reported a net cash outflow from investing activities of ¥52.79 million in Q1 2022, compared to ¥31.76 million in Q1 2021[28]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 2,866[7]. - Total equity attributable to shareholders reached CNY 897,448,162.46, up from CNY 842,033,995.05 in the previous year[13]. - The company’s total equity rose to 884,383,137.92 RMB in Q1 2022, up from 829,368,257.56 RMB in Q4 2021[24].

Financial Performance - The company's operating revenue for 2021 was CNY 158,933.00 million, representing a 51.05% increase compared to CNY 105,218.20 million in 2020[22]. - The net profit attributable to shareholders for 2021 was CNY 16,255.55 million, a growth of 54.34% from CNY 10,532.35 million in the previous year[22]. - The net profit after deducting non-recurring gains and losses increased by 46.24% to CNY 14,355.59 million in 2021 from CNY 9,816.57 million in 2020[24]. - The company's total assets reached CNY 115,557.64 million at the end of 2021, a 126.80% increase from CNY 50,952.37 million at the end of 2020[22]. - The net assets attributable to shareholders increased by 151.90% to CNY 84,203.40 million in 2021 from CNY 33,427.73 million in 2020[24]. - Basic earnings per share for 2021 were CNY 1.99, up 32.67% from CNY 1.50 in 2020[23]. - The company's main business income from homogeneous and heterogeneous catalysts grew by 54.08% to RMB 158,022.95 million, with a notable increase in sales volume of precious metal catalysts by 34.43%[110]. - The gross profit margin for the main business decreased by 1.01 percentage points to 16.19%[109]. - The company reported a net profit of RMB 16,255.55 million for the year 2021, with a total distributable profit of RMB 20,436.67 million[193]. Research and Development - The company invested 5,060.01 million RMB in R&D during the reporting period, resulting in 26 new patents, including 25 invention patents[34]. - The company has established a special R&D team in collaboration with Fudan University for the preparation of functional mesoporous carbon-supported precious metal catalysts[34]. - The company has actively expanded its industrial chain layout and increased R&D investment in fine chemicals, basic chemicals, and environmental new energy sectors[34]. - The company has developed multiple low-content precious metal catalysts, enhancing its competitive advantage and reducing user costs[34]. - The company achieved a total R&D investment of ¥5,060.01 million in the reporting period, representing a 51.69% increase compared to ¥3,335.82 million in the previous year[58]. - R&D investment accounted for 3.18% of total revenue, slightly up from 3.17% in the previous year[58]. - The company has developed a series of catalytic synthesis technologies, including over 30 types of catalysts for pharmaceutical and pesticide intermediates, some of which have been authorized for downstream customer use[53]. - The company is actively collaborating with universities and research institutions to enhance its R&D capabilities, which is critical for sustainable development in the catalyst industry[46]. Market Strategy and Expansion - The company plans to continue expanding its market presence and enhancing its product offerings in the catalyst sector[24]. - The company is positioned within the strategic emerging industries, particularly in the new materials sector, as highlighted in national development plans[42]. - The company is leveraging national major technology research plans that include multiple catalyst materials and technologies, providing growth opportunities in the catalyst field[44]. - The company is focusing on enhancing its research and development capabilities and increasing collaboration with universities and research institutions to mitigate technological risks[93]. - The company aims to improve production efficiency by over 25% through optimization of production processes[64]. - The company plans to focus on domestic demand for basic chemical precious metal catalysts, targeting key products such as platinum-alumina catalysts and palladium-alumina catalysts, to achieve import substitution and address critical supply issues[156]. - The company is committed to achieving China's dual carbon goals by developing catalysts for industrial wastewater treatment and air purification, as well as hydrogen fuel cell catalysts with low platinum content[157]. - The company will strengthen its market position through direct sales and an enhanced sales team, while also expanding into international markets to become a globally recognized enterprise[159]. Corporate Governance - The company has established a comprehensive governance structure, including a board of directors and various committees, to ensure effective decision-making and compliance with regulations[161]. - The company strictly adhered to relevant laws and regulations, ensuring shareholder interests and proper corporate governance without significant defects[162]. - The company has a stable management team with no significant changes in shareholding among directors and senior management[166]. - The report highlights the importance of management's shareholding as a governance mechanism[166]. - The company has established a board of directors that complies with legal requirements, with independent directors making up one-third of the board[198]. - The board has implemented rules to enhance decision-making processes and improve the quality of major investment decisions[199]. - The company has set up an audit committee to oversee internal controls and ensure compliance with financial regulations[199]. Financial Health and Risks - The company has not yet achieved profitability since its listing[4]. - The company is facing risks related to the concentration of downstream customers, particularly in the pharmaceutical sector, which could impact overall revenue if new synthesis processes emerge[95]. - The company benefits from a preferential corporate income tax rate of 15% as a high-tech enterprise, but future compliance with relevant standards is crucial to maintain this advantage[99]. - The company has reported a significant increase in employee compensation liabilities, totaling 2,647.79 million, a 2.29% rise, due to year-end bonuses not yet paid[129]. - The company has no reported risks identified by the supervisory board during the reporting period[186]. Operational Efficiency - The company has actively optimized production processes to improve production efficiency and stability, responding effectively to fluctuations in precious metal raw material prices[35]. - The company is focusing on enhancing its research and development capabilities and increasing collaboration with universities and research institutions to mitigate technological risks[93]. - The company is investing in advanced catalytic materials and technology innovation centers, with construction progress accelerating in the ongoing projects[128]. - The company is actively improving the automation and intelligence of its production processes to increase scale, efficiency, and stability[86]. Employee and Management Compensation - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to RMB 720.94 million[176]. - The total remuneration for core technical personnel at the end of the reporting period amounted to RMB 280.84 million[176]. - The remuneration policy for directors and senior management is based on their roles and responsibilities, approved by the board of directors[175]. - The company emphasizes innovation in its compensation policy, linking R&D personnel's performance to innovation outcomes[189]. - The company has a structured training program aimed at enhancing employee skills and safety awareness, with a focus on continuous improvement[190].

Financial Performance - The company's operating revenue for Q3 2021 was ¥510,607,178.13, representing a 117.87% increase compared to the same period last year[3]. - The net profit attributable to shareholders for Q3 2021 was ¥43,377,015.03, an increase of 148.30% year-on-year[3]. - The company experienced a 62.32% increase in operating revenue for the year-to-date period, driven by increased market demand and sales growth[8]. - Total operating revenue for the first three quarters of 2021 reached ¥1,223,253,034.20, a significant increase from ¥753,596,691.71 in the same period of 2020, representing a growth of approximately 62.2%[19]. - Net profit for the first three quarters of 2021 was ¥126,198,148.91, up from ¥75,814,068.18 in 2020, reflecting a growth of approximately 66.2%[20]. - The company reported a total comprehensive income of ¥126,013,363.65 for the first three quarters of 2021, compared to ¥75,814,068.18 in 2020, reflecting an increase of about 66.1%[21]. Research and Development - The total R&D investment for the period was ¥14,589,836.46, which accounted for 0.48% of operating revenue, a decrease of 2.96 percentage points compared to the previous year[4]. - Research and development expenses for the first three quarters of 2021 were ¥36,242,704.08, compared to ¥25,971,863.14 in 2020, representing an increase of about 39.5%[19]. Assets and Liabilities - The total assets at the end of the reporting period reached ¥1,313,004,332.70, reflecting a 157.69% increase from the previous year[4]. - The company's total liabilities as of the end of the third quarter of 2021 amounted to ¥508,148,132.00, compared to ¥175,246,418.77 at the end of the third quarter of 2020, showing an increase of about 190.5%[22]. - The total current assets as of September 30, 2021, amounted to ¥1,127,487,282.17, a significant increase from ¥354,528,247.96 in the previous year[16]. - Total liabilities reached $175,246,418.77, with current liabilities at $136,024,802.05[28]. - The company has a short-term loan of $44,498,000.00 and accounts payable of $42,894,058.24[27]. Cash Flow - The cash flow from operating activities showed a net outflow of ¥201,554,417.84, primarily due to a 66.25% increase in procurement expenses compared to the previous year[4]. - In the first three quarters of 2021, the company generated cash inflows from operating activities amounting to CNY 994,768,813.37, a significant increase from CNY 720,214,435.99 in the same period of 2020, representing an increase of approximately 38%[23]. - The net cash flow from operating activities for the first three quarters of 2021 was negative CNY 201,554,417.84, compared to a positive CNY 6,892,154.42 in the first three quarters of 2020, indicating a decline in operational performance[23]. - The company reported cash inflows from financing activities totaling CNY 860,716,959.81 in the first three quarters of 2021, a substantial increase from CNY 117,214,417.16 in the same period of 2020, reflecting a growth of approximately 635%[24]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 3,621[10]. - The total equity attributable to shareholders increased to ¥804,856,200.70, a rise of 140.78% year-on-year[4]. - Basic and diluted earnings per share for the first three quarters of 2021 were both ¥1.62, compared to ¥1.08 in the same period of 2020, indicating an increase of approximately 50%[21]. Inventory and Receivables - Accounts receivable increased to ¥271,877,004.14 from ¥50,886,234.43 year-over-year, reflecting improved collection efforts[16]. - Inventory levels rose to ¥249,795,404.97, up from ¥136,938,839.48, suggesting increased production or stockpiling[16]. Financial Strategy - The company has not engaged in financing or margin trading activities, maintaining a conservative financial strategy[14]. - The company recognized a lease liability of $5,746,167.76 under the new leasing standards[28].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥712,645,856.07, representing a 37.25% increase compared to ¥519,234,874.21 in the same period last year[20]. - Net profit attributable to shareholders increased by 41.95% to ¥82,821,133.88 from ¥58,344,572.45 year-on-year[20]. - Basic earnings per share rose by 42.17% to ¥1.18 from ¥0.83 in the previous year[22]. - The gross profit margin improved by 1.96% year-on-year, attributed to changes in product structure[21]. - The net profit for the first half of 2021 reached approximately 82.82 million, compared to 58.34 million in the previous year, indicating a year-over-year increase of around 41.9%[200]. - The total profit for the period was approximately 93.70 million, up from 67.17 million in the prior year, reflecting a growth of about 39.5%[200]. - The income tax expense for the first half of 2021 was approximately 10.88 million, compared to 8.82 million in the same period last year, which is an increase of about 23.3%[200]. Cash Flow and Assets - The net cash flow from operating activities decreased by 75.51% to ¥28,205,370.33, primarily due to a 42.71% increase in raw material procurement costs and a 61.94% rise in taxes and wages[21]. - Cash and cash equivalents at the end of the period reached ¥558,401,136.47, accounting for 47.66% of total assets, a significant increase of 368.73% compared to the previous year[88]. - Accounts receivable increased to ¥170,467,424.86, representing 14.55% of total assets, up 235.00% year-on-year[88]. - Inventory rose to ¥221,127,589.20, which is 18.87% of total assets, reflecting a growth of 61.48% compared to the previous year[90]. - The company's total assets amounted to 1,171.58 million yuan, with total liabilities of 353.74 million yuan as of June 30, 2021[71]. Research and Development - Research and development expenses accounted for 3.04% of operating revenue, a slight decrease of 0.04 percentage points compared to the previous year[22]. - The company achieved a 35.43% increase in R&D expenses, totaling approximately ¥21.65 million, compared to ¥15.99 million in the previous period[42]. - The company maintains a high level of R&D investment, reflecting its commitment to innovation and market competitiveness[43]. - The company has developed multiple core technologies, including multi-phase precious metal catalyst preparation technology and homogeneous catalyst preparation technology, with a focus on industrial application[35]. - The company has established a comprehensive service capability for catalyst application technology development, covering the entire process from research to production[39]. Market and Product Development - The sales volume of precious metal catalysts grew by 36.66%, contributing to significant revenue increases in various sectors: 25.79% in pharmaceuticals, 49.32% in energy and environmental protection, 121.75% in new chemical materials, and 187.10% in basic chemicals[21]. - The total market value of catalysts is expected to exceed $22 billion by 2021, with China's market growth rate being notably high[26]. - By 2023, the demand scale for precious metal catalysts in China is projected to expand to 20.56 billion yuan[26]. - The company is actively developing new homogeneous catalysts for applications in industries such as organic silicon materials and pharmaceuticals[35]. - The company has developed over 100 types of precious metal catalysts and more than 100 catalytic synthesis/reaction technologies, enhancing its market competitiveness[65]. Corporate Governance and Compliance - The board of directors has confirmed that all members attended the board meeting, ensuring the integrity of the report[4]. - The financial report has been declared true, accurate, and complete by the responsible persons of the company[7]. - The company has not reported any administrative penalties related to environmental issues during the reporting period[116]. - The company has established strict rules for share transfers to ensure compliance and maintain market stability[125]. - The company will ensure compliance with the Shanghai Stock Exchange's rules regarding share transfers and disclosures[133]. Environmental and Social Responsibility - The report outlines the company's commitment to environmental and social responsibilities[9]. - The company has achieved compliance with environmental standards, with particulate matter emissions at 0.0956 tons and sulfur dioxide emissions at 0.028 tons, both meeting the required standards[109]. - The company has implemented pollution control facilities that operate in accordance with production scales, ensuring effective waste management[111]. - The company supported poverty alleviation initiatives with a total expenditure of 81,625.00 CNY, including 4,000.00 CNY for tea, 5,600.00 CNY for mushrooms, and 72,025.00 CNY for grains[118]. - The company emphasizes that poverty alleviation is a new starting point, continuing to implement industrial assistance and educational support as part of its corporate social responsibility[119]. Risks and Challenges - The company faces risks related to the volatility of precious metal prices, which can account for over 90% of production costs[75]. - The concentration of downstream customers in the pharmaceutical sector poses risks due to potential technological advancements and price changes[76]. - The company is challenged by intensified competition from established international manufacturers in the precious metal catalyst market[77]. - The company is at risk of resource shortages for precious metals, which are largely imported and subject to geopolitical factors[77]. Shareholder Information - The company reported a lock-up period of 36 months for shares held by directors and senior management after the IPO[125]. - The largest shareholder, Northwest Nonferrous Metal Research Institute, holds 24,000,000 shares, representing 25.71% of total shares[182]. - The total number of shares held by the top ten shareholders is 36,679,430, which is 40.5% of the total shares[181]. - The company has strategic placement shares amounting to 1,168,000 shares, which will be released in 2023[179]. - The company has no preferred shareholders with restored voting rights at the end of the reporting period[180].