Financial Performance - In 2021, the company achieved a revenue of 1.297 billion RMB, representing a year-on-year growth of 24.08%[4] - The net profit for 2021 was 187 million RMB, with a year-on-year increase of 5.54%, and adjusted net profit was 218 million RMB, up 23.20%[4] - The company's operating revenue for 2021 was ¥1,296,688,065.65, representing a year-on-year increase of 24.08%[27] - The net profit attributable to shareholders was ¥186,786,638.98, reflecting a growth of 5.54% compared to the previous year[27] - The basic earnings per share for 2021 was ¥0.66, up 4.76% from ¥0.63 in 2020[28] - The diluted earnings per share rose to ¥0.65, a 3.17% increase from the previous year[28] - The company achieved a total revenue of 1,296.69 million RMB in 2021, representing a year-on-year growth of 24.08%[40] - The net profit for 2021 was 186.79 million RMB, an increase of 5.54% compared to the previous year; excluding stock payment expenses, the net profit was 218.04 million RMB, up 23.20% year-on-year[40] - The cash flow from operating activities decreased by 20.65% to ¥210,982,053.69, primarily due to increased cash payments for goods and services[29] - The total assets at the end of 2021 amounted to ¥2,486,504,620.36, an increase of 13.97% from the previous year[27] - The company's net assets attributable to shareholders increased by 13.61% to ¥1,987,886,055.43 by the end of 2021[27] Research and Development - Research and development expenses increased by 48.72% in 2021, reflecting the company's commitment to talent acquisition and innovation[4] - Research and development expenses accounted for 6.05% of operating revenue, an increase of 1 percentage point from the previous year[28] - R&D investment increased by 48.72% year-on-year, totaling approximately ¥78.47 million, representing 6.05% of operating revenue, up from 5.05%[92][93] - The number of R&D personnel increased to 144, accounting for 17.84% of the total workforce, with an average salary of ¥12.69 million[100] - The company is focusing on developing high-value functional films and has made progress in various projects, including optical films for new display technologies[96] - The company has established a differentiated development strategy focusing on "import substitution, world-leading, and being number one or two" in the polyester film industry[71] Product Development and Innovation - The company plans to establish an 80,000-ton capacity facility in Hefei, focusing on high-end applications of optical base film products[4] - New products such as separators and CPI films are projected to be put into production this year, providing ongoing momentum for future growth[5] - The company focused on developing new products, including transparent polyimide films and lithium battery separators, as part of its strategic planning[42] - The company is actively developing new products in response to market demands, including CPI films and other key functional films for emerging applications[60] - The company has successfully developed over 30 models of reflective films for liquid crystal displays, which are currently its leading products[57] - The company has successfully developed and mass-produced two series of release films for flexible circuit boards, enhancing product performance and reducing costs[87] - The company is actively advancing the construction of an "80,000 tons/year optical-grade polyester film project" and a "560 million square meters/year lithium-ion battery separator project" in Hefei[186] Market Trends and Projections - Mini LED technology is expected to see rapid growth in quantity and application scenarios, benefiting the company's related products[5] - The company anticipates that the LCD technology will maintain its dominant position in the display industry for the foreseeable future, despite the emerging OLED technology[112] - The global lithium battery market is expected to exceed 600 GWh in shipments in 2022, with a projected compound annual growth rate of over 43% through 2025[172] - The global LCD TV market is expected to maintain steady growth, with 2021 shipments reaching 232 million units, where LCD TVs continue to dominate over OLED TVs[160] - The average size of LCD TVs is projected to increase to 49.7 inches by 2022, driving demand for upstream optical films[161] Supply Chain and Production - The company has established stable cooperative relationships with major suppliers for raw materials, ensuring a reliable supply chain[63] - The company has a complete product portfolio and technical reserves for reflective films, covering all sizes in the liquid crystal display application field[72] - The company has established a supply chain system for raw materials to improve input-output efficiency from raw materials to finished products[84] - The company has formed long-term partnerships with research institutions like the Chinese Academy of Sciences to enhance R&D capabilities[106] Strategic Goals and Future Plans - The company aims to achieve its "Ten Years, Ten Films" development goal by focusing on key functional films that are heavily reliant on imports and urgently need to be replaced domestically[60] - The company plans to enhance market share by collaborating with select distributors who have market capabilities and customer resources[133] - The company is committed to increasing R&D investment to improve innovation capabilities and meet the rapid development needs of domestic strategic emerging industries for new film materials[183] - The company will focus on enhancing customer engagement and increasing market share for reflective films, particularly in the mini LED and vacuum-formed reflective film segments[184] - The company recognizes the structural contradiction in the polyester film industry, where low-end products are oversupplied while high-end products are in short supply, and aims to develop specialty functional polyester films[181] Risks and Challenges - The company faces risks related to raw material price fluctuations, particularly due to geopolitical tensions affecting international oil prices[115] - The company is exposed to foreign exchange risks as it conducts overseas sales and settles in USD, which could impact financial performance[117] - The company is at risk of losing market competitiveness if it fails to meet the increasing demands for new products and technologies in downstream applications[113] - The company is facing risks related to technological innovation and product development due to increasing competition in the special functional film industry[111]

Financial Performance - In 2021, the company achieved a revenue of 1.297 billion RMB, representing a year-on-year growth of 24.08%[4] - The net profit for 2021 was 187 million RMB, with a year-on-year increase of 5.54%, and adjusted net profit was 218 million RMB, up 23.20%[4] - The company's operating revenue for 2021 was CNY 1,296,688,065.65, representing a year-on-year increase of 24.08%[27] - The net profit attributable to shareholders was CNY 186,786,638.98, reflecting a growth of 5.54% compared to the previous year[27] - The company reported a quarterly revenue of CNY 354,287,057.05 in Q4 2021, with a net profit of CNY 40,698,200.62 attributable to shareholders[31] - The basic earnings per share for 2021 was CNY 0.66, an increase of 4.76% from CNY 0.63 in 2020[28] - The gross margin for the main business was 32.30%, a decrease of 3.89 percentage points year-on-year[127] - The cash flow from operating activities decreased by 20.65% to CNY 210,982,053.69, primarily due to increased cash payments for goods and services[29] - The total assets at the end of 2021 amounted to CNY 2,486,504,620.36, a 13.97% increase from the previous year[27] - The net cash flow from operating activities was 210,982,053.69 RMB, down 20.65% from the previous year[122] Research and Development - Research and development expenses increased by 48.72% in 2021, reflecting the company's commitment to innovation and talent acquisition[4] - The company's R&D expenditure as a percentage of operating revenue rose to 6.05%, up from 5.05% in 2020[28] - R&D investment increased by 48.72% year-on-year, totaling approximately ¥78.47 million, representing 6.05% of operating revenue, up from 5.05%[92][93] - The company has filed 33 new patent applications this year, with 13 patents granted, bringing the total to 313 applications and 148 granted patents[88] - The number of R&D personnel increased to 144, accounting for 17.84% of the total workforce, with total compensation for R&D staff reaching ¥18.28 million[100] - The company has established a comprehensive project management system for R&D, including a structured framework for product development from concept to lifecycle management[62] - The company is committed to further R&D investment in the optical base film field to achieve comprehensive import substitution[73] - The company has implemented a structured R&D management system, facilitating efficient product development and lifecycle management[105] Product Development and Innovation - The company plans to establish an 80,000-ton capacity facility in Hefei focused on high-end applications of optical base films[4] - The company expects to launch new products such as separators and CPI films this year, which will drive future growth[5] - The company is actively developing new products, including CPI films and lithium battery separators, as part of its strategic planning[42] - The company has successfully developed over 30 models of reflective films for liquid crystal displays, which are currently its leading products[57] - The company has developed advanced core technologies in optical films, achieving international leading levels in key production processes[81] - The company has successfully transitioned to mass production of various reflective films, including Mini LED and vacuum-formed reflective films, meeting customer demands[102] - The company is focusing on developing special functional polyester films, which are expected to see rapid growth due to national policy support and the need for high-performance materials[180] - The company is committed to enhancing its product offerings through continuous innovation and expansion into new markets, including the 5G communications sector[97] Market Trends and Outlook - Mini LED technology is expected to see rapid growth in 2022, benefiting the company's related products[5] - The global TV market shipped 232 million units in 2021, with LCD TVs remaining dominant despite the growth of OLED TVs[159] - The Mini LED backlight market is projected to grow significantly, with shipments expected to rise from approximately 3.92 million units in 2021 to 16 million units by 2025, reflecting a compound annual growth rate (CAGR) of about 42.1%[164] - The market for large-size LCDs is primarily driven by the demand for large-screen TVs, which aligns with consumer upgrade trends[77] - The company aims to achieve the "Ten Years, Ten Films" development goal, focusing on the integration of various technology platforms and enhancing innovation capabilities to meet the demand for new film materials in emerging industries[182] Strategic Initiatives - The company has implemented a stock incentive plan to attract and retain talent, which is expected to enhance its long-term incentive mechanism and promote sustainable development[53] - The company plans to enhance its market share by collaborating with select distributors while primarily focusing on direct sales[131] - The company is considering strategic acquisitions to bolster its market position, with a budget of 100 million allocated for potential deals[198] - The company aims to reduce operational costs by 15% through efficiency improvements in the supply chain[198] - The company is committed to optimizing business processes and organizational changes to improve collaboration and enhance core competitiveness[185] Governance and Management - The company has established a solid governance structure, holding 11 board meetings and 10 supervisory meetings during the reporting period to ensure effective decision-making[188] - The company completed the election of its third board of directors and supervisory board on March 24, 2022, including the election of Mr. Jin Yadong as the chairman of the board[200] - The company appointed multiple vice general managers, including Mr. Li Chen and Mr. Yang Chenghan, on March 24, 2022[200] - The company’s governance structure complies with relevant regulations, ensuring the legality of the shareholder meeting and voting procedures[191] Financial Position and Investments - The company plans to invest in the construction of an optical polyester film project with an annual production capacity of 80,000 tons[191] - The company also intends to invest in a lithium battery separator project with an annual production capacity of 1 billion square meters[191] - Cash and cash equivalents at the end of the period were 518,442,654.73 RMB, representing 20.85% of total assets, an increase of 57.09%[153] - The company established three wholly-owned subsidiaries in 2021, expanding its operational capacity and market reach[138]

Financial Performance - The company's operating revenue for Q1 2022 was CNY 285,035,835.18, representing a year-on-year increase of 2.19%[5] - The net profit attributable to shareholders decreased by 18.09% to CNY 35,351,926.28 compared to the same period last year[5] - Total operating revenue for Q1 2022 was RMB 285,035,835.18, a slight increase of 2.4% compared to RMB 278,939,854.48 in Q1 2021[21] - Net profit for Q1 2022 decreased to RMB 35,351,926.28, down 18.1% from RMB 43,161,551.12 in Q1 2021[22] - Operating profit for Q1 2022 was RMB 35,834,661.13, a decline of 27.3% from RMB 49,336,690.55 in Q1 2021[22] - Total comprehensive income for Q1 2022 was RMB 35,277,598.27, a decrease of 18.5% compared to RMB 43,249,989.79 in Q1 2021[23] - Basic and diluted earnings per share for Q1 2022 were both RMB 0.12, down from RMB 0.15 in Q1 2021[23] Cash Flow - The net cash flow from operating activities increased significantly by 216.29% to CNY 48,188,660.60[5] - Cash flow from operating activities for Q1 2022 was RMB 48,188,660.60, significantly up from RMB 15,235,371.67 in Q1 2021[25] - Total cash inflow from operating activities reached $239,494,117.43, compared to $225,557,135.62 in the same period last year, indicating a year-over-year increase of about 6%[32] - The net cash flow from investing activities was -$165,136,984.19, a decline from a positive cash flow of $13,241,927.76 in Q1 2021[32] - The company reported a cash outflow of $34,081,768.62 for employee payments, down from $37,235,008.30 in Q1 2021, indicating a decrease of approximately 8.6%[32] - The cash flow from tax refunds was $10,234,220.63, slightly higher than $10,205,658.44 in the same quarter last year[32] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,596,130,397.86, an increase of 4.41% from the end of the previous year[6] - The company's current assets totaled ¥1,352,402,688.68, a decrease from ¥1,426,531,435.68 at the end of 2021, indicating a decline of about 5.2%[16] - The total liabilities of the company were ¥576,695,260.86, up from ¥498,618,564.93 at the end of 2021, reflecting an increase of approximately 15.6%[18] - The total liabilities increased to CNY 567,079,280.89 in Q1 2022, compared to CNY 489,247,373.46 in the same period last year, reflecting a growth of approximately 15.9%[29] - The company's cash and cash equivalents stood at ¥435,102,194.23, down from ¥518,442,654.73 at the end of 2021, which is a decrease of around 16.1%[16] Research and Development - Research and development expenses totaled CNY 18,571,336.82, accounting for 6.52% of operating revenue, a decrease of 1.16 percentage points[6] - Research and development expenses for Q1 2022 were RMB 18,571,336.82, down 13.5% from RMB 21,397,542.41 in Q1 2021[21] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 11,109[12] - The company's equity attributable to shareholders increased to ¥2,019,435,137.00 from ¥1,987,886,055.43, reflecting a growth of approximately 1.6%[18] - The total owner's equity increased to CNY 2,013,695,256.15 as of March 31, 2022, up from CNY 1,981,535,122.92 at the end of 2021, representing a growth of about 1.6%[29] Operational Efficiency - The company experienced a 60.95% increase in selling expenses, attributed to higher service fees and increased employee compensation[10] - The company is focusing on enhancing its operational efficiency and exploring new market opportunities as part of its strategic initiatives[20]

证券代码：688299 证券简称：长阳科技 公告编号：2021-069 宁波长阳科技股份有限公司 关于参加"宁波辖区 2021 年度上市公司投资者网上集体 接待日主题活动"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、准确性和完整性依法承担法律责任。 为进一步加强宁波辖区上市公司与投资者特别是中小投资者的沟通交流，增 强上市公司的透明度，提升公司治理水平，促进公司规范运作，在宁波证监局指 导下，宁波上市公司协会将联合深圳市全景网络有限公司共同举办"心系投资者 携手共行动"——宁波辖区 2021 年度上市公司投资者网上集体接待日主题活动。 活动于 2021 年 11 月 18 日下午 15:00-17:00 举行，平台登录地址为： https://rs.p5w.net/。 届时，公司高管人员将参加本次活动，通过在线文字互动交流形式，就公司 治理、发展战略、经营状况、可持续发展等投资者所关心的问题，与投资者进行 沟通与交流。欢迎广大投资者踊跃参与！ 特此公告。 宁波长阳科技股份有限公司董事会 2021 年 11 月 13 日 ...

Financial Performance - The company's operating revenue for Q3 2021 was CNY 354,287,057.05, representing a year-on-year increase of 10.72%[5] - The net profit attributable to shareholders for Q3 2021 was CNY 54,406,556.30, a decrease of 6.40% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 51,394,211.39, an increase of 11.53% year-on-year[5] - Total operating revenue for the first three quarters of 2021 reached ¥952,883,719.46, an increase of 29.5% compared to ¥735,983,432.65 in the same period of 2020[24] - Net profit for the third quarter of 2021 was ¥146,088,438.36, representing a 8.5% increase from ¥135,163,589.84 in the same quarter of 2020[25] - The total comprehensive income for the third quarter of 2021 was CNY 146,100,758.92, an increase from CNY 135,180,926.76 in the same period of 2020, representing a growth of approximately 13.5%[26] Research and Development - Research and development expenses totaled CNY 23,209,101.87 for the quarter, up 53.03% year-on-year, and accounted for 6.55% of operating revenue[6][12] - Research and development expenses for the first three quarters of 2021 were ¥67,222,223.75, which is a significant increase from ¥34,484,907.35 in the same period of 2020, reflecting a growth of 94.8%[24] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,390,978,821.59, reflecting a 9.59% increase from the end of the previous year[6] - The company's total assets as of the end of the third quarter of 2021 amounted to ¥2,390,978,821.59, compared to ¥2,181,807,536.73 at the end of the previous year, reflecting a growth of 9.6%[21] - Total liabilities increased to ¥491,029,486.60 in the third quarter of 2021, up from ¥432,109,699.82 in the same period last year, marking a rise of 13.6%[21] Cash Flow - The total net cash flow from operating activities for the year-to-date was CNY 135,757,338.02, showing a decrease of 9.72%[6] - Cash inflow from operating activities for the first three quarters of 2021 was CNY 870,326,976.86, up from CNY 596,924,166.69 in the same period of 2020, indicating a growth of approximately 45.6%[30] - The net cash flow from operating activities for the first three quarters of 2021 was CNY 135,757,338.02, a decrease from CNY 150,377,090.53 in the same period of 2020, showing a decline of about 9.5%[30] - The net cash flow from financing activities for the first three quarters of 2021 was -CNY 49,071,146.96, compared to -CNY 138,709,989.11 in the same period of 2020, indicating an improvement in cash flow[31] Shareholder Information - The company has a total of 9,891 shareholders as of the report date, with the largest shareholder holding 16.06% of the shares[14] - The top ten shareholders collectively hold a significant portion of the company's equity, with the largest non-restricted shareholder holding 14,128,500 shares[15] - The company has not reported any related party transactions or agreements among its top shareholders[15] Investments - The company plans to invest ¥1,224.48 million in a project to produce 80,000 tons of optical-grade polyester film, aimed at applications such as polarizer release films and protective films[17] - Additionally, the company intends to invest ¥591.36 million in a project to produce 560 million square meters of lithium-ion battery separators[17] Other Financial Metrics - The weighted average return on equity was 2.91%, a decrease of 0.56 percentage points compared to the same period last year[6] - The basic earnings per share for Q3 2021 were CNY 0.19, down 9.52% year-on-year[6] - Basic earnings per share for the third quarter of 2021 were CNY 0.52, compared to CNY 0.48 in the same quarter of 2020, reflecting an increase of 8.33%[26] - The company reported a financial expense of -¥1,114,579.12, a decrease from ¥8,479,796.45 in the previous year, indicating improved financial management[24]

Financial Performance - The company reported a total revenue of RMB 500 million for the first half of 2021, representing a year-on-year increase of 20%[14]. - The net profit attributable to shareholders was RMB 100 million, up 15% compared to the same period last year[14]. - The company's operating revenue for the first half of 2021 was ¥598,596,662.41, representing a year-on-year increase of 43.90% due to strong demand for reflective films and significant sales growth in optical base films and Mini LED reflective films[21]. - The net profit attributable to shareholders for the same period was ¥91,681,882.06, reflecting a 19.01% increase compared to the previous year[21]. - The net cash flow from operating activities increased by 42.13% to ¥102,850,348.67, primarily due to improved management of accounts receivable and increased cash received from sales[22]. - Basic earnings per share for the first half of 2021 were ¥0.32, an increase of 18.52% year-on-year[21]. - The company achieved a total R&D investment of ¥44,013,121.88, representing a 127.83% increase compared to ¥19,318,693.44 in the previous period[45]. - The company achieved a revenue of 598.60 million yuan, a year-on-year increase of 43.90%, and a net profit of 91.68 million yuan, up 19.01% year-on-year, with a net profit growth of 46.53% after excluding stock incentive costs[62]. Research and Development - The company is investing RMB 50 million in R&D for new technologies, focusing on advanced materials and applications in the electronics sector[14]. - The company's R&D investment as a percentage of operating revenue rose to 7.35%, an increase of 2.71 percentage points compared to the previous year[21]. - The company has established stable partnerships with key suppliers for raw materials, ensuring a reliable supply chain for production[32]. - The company employs a comprehensive R&D management system, including collaboration with external research institutions to enhance its R&D capabilities[31]. - The company has achieved a reflectivity rate of over 97% for its reflective films, placing it at an international leading level compared to competitors[53]. - The company has developed new technologies for multi-layer polymer films, enhancing their thickness uniformity and solvent resistance[42]. - The company has implemented advanced coating techniques to improve the optical performance and surface adhesion of its films[42]. - The company has made significant advancements in the design and production of high-performance liquid crystal polymer films, achieving low wrinkles and high strength[42]. - R&D expenses increased by CNY 24.69 million, a year-on-year growth of 127.83%, primarily due to an increase in personnel costs and new product development investments[47]. Market Expansion - Future outlook indicates a projected revenue growth of 25% for the second half of 2021, driven by new product launches and market expansion strategies[14]. - Market expansion efforts include entering two new international markets, aiming for a 10% increase in overseas sales by the end of 2021[14]. - The company is actively expanding its market presence through a "triangular" business development model, optimizing internal processes[69]. - The company is expanding its market presence in Asia, targeting a 30% increase in market share within the next two years[115]. - The company plans to introduce three new product lines in Q3 2021, targeting a 15% increase in market penetration[14]. Sustainability and Environmental Commitment - The management highlighted a commitment to sustainability, with plans to reduce production waste by 20% by the end of 2021[14]. - The company produces specialty functional membrane products, which are environmentally friendly thermoplastic materials, generating minimal waste during production[108]. - The solid waste recycling rate is 100%, with no heavy pollution incidents reported during production[108]. - The company adheres to national and local environmental protection laws, with pollutant discharge concentrations meeting regulatory standards[108]. - The company has implemented a series of environmental protection measures to minimize production's impact on the environment[108]. Strategic Initiatives - The company has completed a strategic acquisition of a local competitor, enhancing its market share by 5%[14]. - The company is exploring strategic acquisitions to bolster its technology capabilities, with a budget of $500 million allocated for potential deals[115]. - The company is considering strategic acquisitions to enhance its competitive position, with a budget of 300 million earmarked for potential mergers and acquisitions[116]. - The company is implementing an integrated product development (IPD) process to improve new product development efficiency[65]. Shareholder and Governance - The company did not propose any profit distribution or capital reserve transfer plan for the half-year period[104]. - Major shareholders, including Jin Yadong and Tao Chunfeng, pledged to adhere to the commitments outlined in the prospectus, ensuring long-term compliance[120]. - There were no significant lawsuits or arbitration matters during the reporting period, indicating a stable legal environment for the company[124]. - The company has committed to avoiding any conflicts of interest and ensuring independent governance practices[120]. Financial Management - The company’s short-term borrowings were fully repaid, indicating a shift in financial strategy[86]. - The company has not reported any capitalized R&D investments during the period[46]. - The company has not provided any financial assistance or loans to incentive recipients under the incentive plan, maintaining financial integrity[122]. - The company has not faced any penalties or corrective actions related to legal violations by its directors, supervisors, or major shareholders during the reporting period[124].

2021 年第一季度报告 公司代码：688299 公司简称：长阳科技 宁波长阳科技股份有限公司 2021 年第一季度报告 1 / 22 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 8 | | 四、 | 附录 10 | 2021 年第一季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 3 / 22 本报告期末 上年度末 本报告期末比上年 度末增减(%) 总资产 2,229,588,242.94 2,181,807,536.73 2.19 归属于上市公司股东的 净资产 1,803,574,267.19 1,749,697,836.91 3.08 年初至报告期末 上年初至上年报告期 末 比上年同期增减(%) 经营活动产生的现金流 量净额 15,235,371.67 12,256,810.01 24.30 年初至报告期末 上年初至上年报告期 末 比上年同期增减 （%） 营业收入 278,939,854.48 174,367,607.10 59.97 归属于上市公司股东的 净利润 43,161,551.12 35,188,10 ...

Financial Performance - In 2020, the company's total revenue increased by 14.81% year-on-year, while net profit grew by 23.69%[4]. - The company's operating revenue for 2020 was CNY 1,045,044,542.99, representing a year-on-year increase of 14.81% compared to CNY 910,261,053.81 in 2019[26]. - Net profit attributable to shareholders increased by 23.69% to CNY 176,977,360.24 in 2020, up from CNY 143,077,038.17 in 2019[26]. - The net cash flow from operating activities surged by 103.41% to CNY 265,886,171.38, compared to CNY 130,713,158.20 in the previous year[26]. - The company's net assets attributable to shareholders at the end of 2020 were CNY 1,749,697,836.91, an increase of 8.54% from CNY 1,612,093,472.22 in 2019[26]. - The gross profit margin for optical base films improved from 9.29% in 2019 to 20.19% in 2020, contributing to the increase in net profit[27]. - Basic earnings per share for 2020 were CNY 0.63, a slight decrease of 1.56% from CNY 0.64 in 2019[27]. - The weighted average return on equity decreased to 10.57% in 2020, down from 17.31% in 2019, indicating a decline in profitability[27]. - The company reported a decrease in trading financial assets from CNY 605 million to CNY 400 million, a reduction of CNY 205 million[34]. - The company reported a significant government subsidy of CNY 21,072,338.38 in 2020, up from CNY 17,044,466.45 in 2019[32]. Research and Development - Research and development expenses accounted for 5.05% of operating revenue in 2020, up from 4.19% in 2019, indicating a focus on innovation[27]. - The company is prepared for the commercialization of Mini LED technology, which is expected to be a significant market opportunity in 2021[6]. - The company aims to transition from being a technology follower to a technology leader, focusing on innovative and superior products through its research institute[5]. - The company has established long-term partnerships with research institutions to enhance its R&D capabilities[44]. - The company has developed over 30 models of reflective films for LCD displays, which are currently its leading products[39]. - The company has achieved international leading levels in core technologies related to reflective films and optical base films through years of independent research and development[62]. - The R&D focus includes enhancing optical base films through upstream raw material control and process optimization, leading to improved product quality[66]. - The company has invested a total of CNY 4,553.27 million in various R&D projects, with a cumulative investment of CNY 13,274 million[74]. - The R&D team has increased to 109 members, with a total salary of CNY 1,605.96 million, reflecting a commitment to enhancing technical capabilities[80]. - Eight new patents were granted during the reporting period, bringing the total to 107 granted patents[67]. Market and Product Development - The company recognizes the potential of the optical base film market, which is valued at several hundred billion yuan, and is committed to expanding its presence in this sector[4]. - The company aims to achieve its "Ten Years, Ten Films" development goal, focusing on new display, semiconductor, and 5G applications[42]. - The company is actively developing new products such as Mini LED reflective films and has achieved small batch sales for some of these products[54]. - The company is focusing on the industrialization of high-value functional films, with a total investment of CNY 314.75 million in the pilot operation phase[73]. - The company is focused on optimizing production processes for optical base films, improving key performance indicators such as haze and transmittance through continuous equipment upgrades[55]. - The company is implementing business process reengineering and organizational changes to enhance operational efficiency and support strategic goals[100]. - The company plans to transition from providing a limited range of products to offering comprehensive solutions, enhancing product performance and variety to meet diverse customer needs[158]. - The company is actively exploring new technologies and business models in the display sector, particularly in the context of the growing demand for large-size LCDs driven by consumer upgrades[57]. Dividend and Shareholder Policies - The company plans to distribute a cash dividend of 1.00 yuan per 10 shares, totaling approximately 28.26 million yuan (including tax) based on the total share capital of 282,568,577 shares as of December 31, 2020[9]. - The cash dividend policy prioritizes cash distributions, with a minimum of 10% of distributable profits allocated for dividends, depending on the company's financial conditions[165]. - The company will implement differentiated cash dividend policies based on its development stage and capital expenditure needs, with minimum cash dividend ratios ranging from 20% to 80%[165]. - The company has maintained a clear and compliant dividend policy, ensuring the protection of minority shareholders' rights[167]. - The company has not proposed any cash profit distribution plan for the reporting period despite having positive distributable profits[169]. Legal and Compliance Matters - The company has been involved in significant litigation matters during the reporting period, with ongoing cases that have not been disclosed in temporary announcements[190]. - The company faced a lawsuit regarding intellectual property rights, with the Beijing Intellectual Property Court ruling in favor of the company[191]. - The company has not faced any situations that would lead to delisting or bankruptcy restructuring[190]. - The company continues to comply with all regulatory requirements and has no pending issues with its auditors[189]. - The company has established a two-year compliance period for shareholders after the lock-up period ends[177]. Strategic Initiatives - The company is implementing an equity incentive plan to attract and retain talent, aligning interests among shareholders, the company, and core team members[102]. - The company announced a strategic acquisition of a competitor for $200 million, expected to close in Q4 2023[175]. - The management emphasized a focus on sustainability initiatives, allocating $10 million for eco-friendly practices in the upcoming fiscal year[175]. - The company plans to enter two new international markets by the end of 2024, aiming for a 15% increase in global sales[175]. - The company is committed to fulfilling the dilution compensation measures related to its initial public offering, as detailed in the prospectus on the Shanghai Stock Exchange[181].

Financial Performance - Operating revenue for the first nine months reached CNY 735,983,432.65, a 16.55% increase year-on-year[6] - Net profit attributable to shareholders rose by 38.44% to CNY 135,163,589.84 for the first nine months[6] - Cash flow from operating activities increased by 25.86% to CNY 150,377,090.53 year-to-date[6] - Basic earnings per share increased by 4.35% to CNY 0.48[6] - The company reported a net profit increase, with retained earnings rising to CNY 344,560,661.05 from CNY 254,608,043.53, reflecting a growth of about 35.33%[24] - Total operating revenue for Q3 2020 reached ¥319,993,287.98, a 25% increase from ¥256,076,762.53 in Q3 2019[31] - Net profit for Q3 2020 was ¥58,124,812.30, representing a 43% increase compared to ¥40,604,591.85 in Q3 2019[34] - The net profit for the first three quarters of 2020 was ¥139,223,286.52, up 42.7% from ¥97,474,010.17 in the same period of 2019[38] Assets and Liabilities - Total assets increased by 3.74% to CNY 2,132,315,261.86 compared to the end of the previous year[6] - The total amount of prepayments increased by 155.81% to RMB 29,728,340.70, primarily due to higher advance payments for raw materials and equipment[15] - Total liabilities amounted to CNY 430,251,835.20, down from CNY 443,412,538.67, showing a decrease of about 2.96%[24] - Current liabilities decreased to CNY 365,295,793.59 from CNY 379,466,535.25, a reduction of approximately 3.03%[24] - The company held trading financial assets of RMB 365,252,000.00, down 39.63% from RMB 605,000,000.00 at the end of 2019[15] - The company's total assets at the end of Q3 2020 were significantly higher, reflecting a strong growth trajectory[39] - The total current assets as of Q3 2020 amounted to CNY 1,336,257,314.05, reflecting stable liquidity[48] - Total current liabilities were approximately $383.99 million as of the third quarter of 2020[53] Cash Flow - The net cash flow from operating activities for the first three quarters of 2020 was CNY 576,697,340.82, an increase of 20.3% compared to CNY 479,578,185.08 in the same period of 2019[44] - The company reported a net cash inflow from investment activities of ¥228,502,721.90 in the first three quarters of 2020, compared to a net outflow of ¥43,204,879.07 in the same period of 2019[42] - The cash flow from operating activities for Q3 2020 was CNY 152,073,833.82, an increase from CNY 134,072,670.48 in Q3 2019, showing improved operational efficiency[45] - The cash outflow from financing activities in Q3 2020 was CNY 308,709,989.11, up from CNY 167,101,628.77 in Q3 2019, reflecting increased financial activity[45] Research and Development - R&D expenditure as a percentage of operating revenue increased by 0.72 percentage points to 4.69%[7] - Research and development expenses increased by 37.70% to RMB 34,484,907.35 from RMB 25,043,746.83 year-on-year, reflecting higher investment in product development[15] - R&D expenses for Q3 2020 amounted to ¥15,166,213.91, a 32% increase from ¥11,429,735.35 in Q3 2019[31] Shareholder Information - The total number of shareholders reached 12,853 by the end of the reporting period[11] - The top shareholder, Jin Yadong, holds 16.06% of the shares, totaling 45,378,922 shares[11] Investment Income - The company reported a significant increase in investment income, which surged by 1,238.25% to RMB 10,064,307.65 from RMB 752,051.51 in the previous year[15] - The company reported an investment income of ¥5,392,387.53 in Q3 2020, compared to a loss of ¥48,003.29 in Q3 2019[34] Equity and Return Metrics - The weighted average return on equity decreased by 6.63 percentage points to 8.14%[6] - Shareholders' equity rose to CNY 1,702,063,426.66, compared to CNY 1,612,093,472.22, representing an increase of approximately 5.57%[24] - The company's total equity as of Q3 2020 was CNY 1,612,093,472.22, indicating a stable equity position[50]

Financial Performance - The company's operating revenue for the first half of 2020 was approximately ¥415.99 million, representing a year-on-year increase of 10.81% compared to ¥375.41 million in the same period last year[19]. - The net profit attributable to shareholders of the listed company reached approximately ¥77.04 million, marking a significant increase of 35.08% from ¥57.03 million in the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥70.23 million, which is a 37.50% increase from ¥51.08 million in the same period last year[19]. - The net cash flow from operating activities was approximately ¥72.36 million, showing a decrease of 11.49% compared to ¥81.76 million in the previous year[19]. - As of the end of the reporting period, the net assets attributable to shareholders were approximately ¥1.64 billion, reflecting a 1.98% increase from ¥1.61 billion at the end of the previous year[19]. - The total assets of the company were approximately ¥2.06 billion, which is a slight increase of 0.36% from ¥2.06 billion at the end of the previous year[19]. - Basic and diluted earnings per share remained stable at CNY 0.27, with a 4.17% increase in basic earnings per share after excluding non-recurring gains and losses to CNY 0.25[20]. - The weighted average return on equity decreased by 4.21 percentage points to 4.69%, and the return on equity after excluding non-recurring gains and losses decreased by 3.70 percentage points to 4.27%[20]. Research and Development - Research and development expenses accounted for 4.64% of operating income, an increase of 1.01 percentage points compared to the same period last year[20]. - The company is committed to continuous technological iteration and product development to transition from a technology follower to a technology leader[26]. - The company has achieved international leading levels in core technologies related to optical and microstructure design, formulation design, manufacturing, and precision coating technology for specialty functional films[37]. - The company has applied for a total of 196 invention patents and was granted 101 patents, including 3 international patents as of June 30, 2020[39]. - The total R&D investment amounted to ¥1,931.87 million, representing 4.64% of the operating revenue[40]. - The company has established partnerships with research institutions to advance its technological capabilities[39]. - The company has a well-established R&D mechanism, focusing on independent and collaborative research to enhance product development[50]. Market Strategy and Operations - The company aims to become a leading functional film company in China and internationally, with a ten-year goal of achieving "Ten Films" in market share[26]. - The company focuses on R&D-driven operations, maintaining a "R&D + Procurement + Production + Sales" model to ensure quality and customer satisfaction[27]. - The sales model primarily relies on direct sales, with a focus on building long-term relationships with clients such as Samsung and LG[32]. - The company is actively developing Mini LED reflective films and vacuum-formed reflective films to meet customer demands, with continuous improvements in optical and mechanical properties of optical base films[39]. - The company is focusing on expanding its market share in the reflective film sector, with increased cooperation with major clients like Samsung and LG, leading to enhanced customer loyalty[60]. Financial Management and Investments - The company is committed to the timely and effective use of raised funds for investment projects, which will help expand production capacity and optimize product structure[64]. - The company has invested a total of RMB 4,288.27 million in various R&D projects, with a current period investment of RMB 1,755.14 million[42]. - The company is currently in the customer validation phase for several products, including flexible circuit board release films and high-performance reflective films[42]. - The company has committed to a share buyback program, intending to repurchase up to 5% of its outstanding shares[99]. Legal and Compliance - The company is currently involved in a patent litigation case with Toray Industries, which could affect its operations if it leads to reduced sales or partnerships[68]. - The company has committed to fully bear any costs arising from the lawsuit, ensuring no financial loss to the company[102]. - The company has not faced any non-standard audit reports in the previous fiscal year[104]. - The company’s governance and independence measures are in place to avoid conflicts of interest[101]. Environmental and Social Responsibility - The company maintains a 100% recycling rate for solid waste during production, adhering to environmental protection regulations[113]. - The company has signed a poverty alleviation agreement with Baidu Village, investing CNY 100,000 annually for three years to support the development of registered impoverished households[111]. - The company continues to focus on environmental protection as a core aspect of its operations[113]. Shareholder Information - The total number of shares is 282,568,577, with a decrease of 3,074,252 shares in restricted shares due to the release of lock-up shares[119]. - The largest shareholder, Jin Yadong, holds 45,378,922 restricted shares, which will be released on November 6, 2022[122]. - The report indicates that there are no preferred shareholders with restored voting rights as of the end of the reporting period[125]. - The total number of ordinary shareholders as of the end of the reporting period is 14,628[125].