Financial Performance - Net profit attributable to shareholders was CNY 35,188,103.85, representing an increase of 116.75% year-on-year[6]. - Operating revenue reached CNY 174,367,607.10, reflecting an 18.14% increase compared to the same period last year[6]. - Basic earnings per share increased by 50.00% to CNY 0.12[6]. - Operating profit increased by 101.58% to CNY 37,685,938.95, driven by higher operating income and gross margin[16]. - The company's net profit for Q1 2020 was CNY 35,188,103.85, representing a 116.75% increase compared to the same period last year[16]. - Total operating revenue for Q1 2020 was CNY 174,367,607.10, an increase of 18.1% compared to CNY 147,599,255.58 in Q1 2019[30]. - Earnings per share for Q1 2020 were CNY 0.12, compared to CNY 0.08 in Q1 2019[31]. - The company achieved a total comprehensive income of CNY 35,261,998.74, compared to CNY 16,039,148.22 in the previous year[34]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,051,515,727.50, a decrease of 0.19% compared to the end of the previous year[6]. - The total assets for the company were CNY 2,052,315,135.57 in Q1 2020, slightly down from CNY 2,055,067,329.90 in Q1 2019[30]. - Total liabilities decreased from ¥443,412,538.67 to ¥404,090,698.58, a reduction of about 8.87%[24]. - Total liabilities decreased to CNY 409,918,036.27 in Q1 2020 from CNY 447,932,229.34 in Q1 2019, a reduction of 8.5%[30]. - The company's equity increased from ¥1,612,093,472.22 to ¥1,647,425,028.92, an increase of approximately 2.18%[24]. - Total equity increased to CNY 1,642,397,099.30 in Q1 2020 from CNY 1,607,135,100.56 in Q1 2019, an increase of 2.2%[30]. Cash Flow - The net cash flow from operating activities was CNY 12,256,810.01, down 53.78% year-on-year[6]. - The company reported a decrease in cash flow from operating activities, with a net cash flow of CNY 12,256,810.01, down 53.78% from the previous year[17]. - In Q1 2020, the company reported a net cash flow from operating activities of CNY 12,256,810.01, a decrease of 53.8% compared to CNY 26,518,900.79 in Q1 2019[37]. - The company recorded a net cash flow from investing activities of CNY 23,827,279.78, a turnaround from a negative cash flow of CNY -91,494,830.79 in the same quarter last year[39]. - The net cash flow from financing activities was CNY -37,473,362.80, worsening from CNY -6,104,879.24 in the previous year[38]. Research and Development - Research and development expenses accounted for 5.42% of operating revenue, an increase of 1.74 percentage points[8]. - Research and development expenses rose by 74.25% to CNY 9,453,404.99, indicating increased investment in innovation[16]. - Research and development expenses for Q1 2020 were CNY 9,453,404.99, up 74.4% from CNY 5,425,306.99 in Q1 2019[30]. Shareholder Information - The total number of shareholders at the end of the reporting period was 13,788[12]. - The top shareholder, Jin Yadong, held 16.06% of the shares, totaling 45,378,922 shares[12]. Government Support - The company received government subsidies amounting to CNY 4,606,161.07, including a special subsidy of CNY 3 million from Jiangbei District[9]. Inventory and Current Assets - Inventory increased significantly from ¥84,642,464.44 to ¥102,307,988.42, representing a growth of approximately 20.83%[22]. - Current assets totaled ¥1,337,380,906.24, compared to ¥1,336,257,314.05 at the end of 2019, indicating a marginal increase[22]. - Cash and cash equivalents decreased from ¥223,222,517.76 to ¥198,597,260.49, a decline of approximately 11.05%[22]. - Accounts receivable rose to ¥298,445,973.14 from ¥305,282,299.23, reflecting a decrease of about 2.75%[22]. Future Outlook - Future guidance indicates a commitment to maintaining financial stability while exploring strategic acquisitions and partnerships[42].

Company Performance - In 2019, the company achieved a global market share of 1st place in optical reflective film products and completed its IPO on the Sci-Tech Innovation Board[4]. - The company reported a strong performance growth in 2019, with continuous improvement in market share for its main products[4]. - The company's operating revenue for 2019 was CNY 910,261,053.81, representing a year-on-year increase of 31.72%[26]. - Net profit attributable to shareholders increased by 60.99% to CNY 143,077,038.17, driven by higher sales of reflective films and functional film pieces[28]. - Quarterly revenue for Q4 2019 reached CNY 278,771,907.28, showing a consistent increase throughout the year[30]. - The company achieved a total operating revenue of 910.26 million yuan, representing a year-on-year growth of 31.72%, and a net profit of 143.08 million yuan, up 60.99% from the previous year[86]. - The main business revenue from reflective films and functional films increased by 33.91%, driven by a significant order increase, particularly a 159.24% rise in sales to Samsung[109]. - The gross profit margin for the main business was 34.09%, an increase of 5.49 percentage points from the previous year[110]. Research and Development - The company invested 4.19% of its operating revenue in research and development, up from 3.96% in 2018[27]. - The company has filed a total of 188 invention patents, with 99 granted, including 3 international patents[67]. - The company has made significant progress in R&D projects, with a total investment of 32.242 million RMB across various projects, including high-performance TV reflective films and optical polyester release films[72]. - The company has established a robust R&D framework, continuously optimizing production parameters to achieve high-performance products[64]. - The company has focused on the development of new materials and technologies to improve the efficiency of solar cell components[63]. - The company plans to increase R&D investment in optical base films, targeting a shift in application areas to include diffusion films, release films, protective films, pre-coated films, and advertising printing markets, with an emphasis on improving revenue and profitability[158]. Strategic Goals and Market Focus - The company aims to become a leading functional film company in China and internationally, focusing on "import substitution" and "world-leading" strategies over the next decade[37]. - The company will focus on three main areas: new display technologies, semiconductors, and 5G, as part of its strategic goal of "Ten Films in Ten Years"[4]. - The company aims to enhance its R&D capabilities and develop comprehensive solutions to meet diverse customer needs, transitioning from offering a limited range of products[155]. - The company is committed to developing key functional film products that are heavily reliant on imports, focusing on future technology frontiers[158]. Financial Management and Investments - The company raised a total of RMB 968,504,562.00 through its initial public offering, with a net amount of RMB 856,718,202.80 after expenses, which will support future development[94]. - The company achieved a total R&D investment of 38.1461 million RMB, accounting for 4.19% of its operating revenue[69]. - The company has invested CNY 180 million in bank wealth management products using its own funds and CNY 625 million using raised funds, with a remaining balance of CNY 605 million[191]. - The company has engaged in structured deposits with Guangfa Bank, totaling RMB 50 million with an annualized return of 4.20%, and the actual return was RMB 529,315.07, which has been fully recovered[193]. Risk Management - The company faces risks related to technological innovation, as the demand for new products and technologies in downstream applications continues to rise[97]. - The company is exposed to potential risks from technology substitution, particularly if OLED technology matures and replaces LCD technology[98]. - The rapid expansion of the company's business scale post-IPO may introduce management risks if not properly addressed[102]. - There are risks that the fundraising projects may not achieve the expected benefits due to market changes and other factors[103]. Corporate Governance and Compliance - The company assures that there are no non-operating fund occupations by controlling shareholders or related parties[12]. - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of its IPO[168]. - The company has established a clear framework for share transfer and management to ensure compliance with regulatory requirements[168]. - The company has confirmed that there are no significant impacts from the completion of performance commitments on goodwill impairment testing, which is marked as not applicable[179]. Community Engagement and Social Responsibility - The company has committed to a poverty alleviation program, providing RMB 100,000 annually for three years to support local industry development in Qianxinan Prefecture[199]. - The company donated RMB 100,000 through the Ningbo Guangcai Charity Promotion Association for projects related to poverty alleviation in Qianxinan Prefecture[199]. - The company plans to continue its poverty alleviation efforts in accordance with signed agreements, ensuring ongoing support for targeted communities[200].