Financial Performance - Operating revenue rose by 36.76% to CNY 313,304,737.60 year-on-year[5] - Net profit attributable to shareholders increased by 30.23% to CNY 34,265,986.23 compared to the same period last year[5] - Basic and diluted earnings per share increased by 6.90% to CNY 0.31[5] - The company's revenue for Q1 2021 reached RMB 313,304,737.60, representing a 36.76% increase compared to RMB 229,084,196.31 in the same period last year[14] - The net profit for Q1 2021 was RMB 34,264,351.60, a 30.27% increase from RMB 26,301,791.30 year-on-year, driven by revenue growth[15] - Total operating revenue for Q1 2021 reached CNY 313,304,737.60, a 37% increase from CNY 229,084,196.31 in Q1 2020[28] - Net profit for Q1 2021 was CNY 34,264,351.60, representing a 30% increase compared to CNY 26,301,791.30 in Q1 2020[29] Assets and Liabilities - Total assets increased by 32.82% to CNY 1,740,357,780.68 compared to the end of the previous year[5] - The company's total assets as of Q1 2021 amounted to CNY 1,682,515,215.61, compared to CNY 1,255,900,361.19 in the previous year[26] - The company's equity attributable to shareholders increased to ¥1,371,379,399.39 from ¥970,190,247.08, reflecting a growth of 41.38%[22] - Total liabilities for Q1 2021 were CNY 314,283,843.37, an increase from CNY 285,923,503.49 in Q1 2020[26] Cash Flow - Cash flow from operating activities decreased by 91.04% to CNY 3,533,621.11 compared to the previous year[5] - The net cash flow from operating activities decreased by 91.04% to ¥3,533,621.11 compared to ¥39,435,406.25 in the same period last year, primarily due to increased tax expenses and employee compensation[16] - The net cash flow from investing activities was -¥258,784,789.42, a significant increase in outflow compared to -¥61,310,166.99 in the previous year, mainly due to an increase in structured deposits[16] - The net cash flow from financing activities improved to ¥386,598,073.65 from -¥731,161.40, attributed to funds raised from the initial public offering[16] Research and Development - R&D expenses accounted for 4.19% of operating revenue, an increase of 0.06 percentage points[6] - Research and development expenses for Q1 2021 were RMB 13,112,243.46, up 38.55% from RMB 9,463,948.43, indicating a return to normal project timelines after pandemic-related delays[14] - Research and development expenses increased to ¥8,413,932.73 in Q1 2021, a 81.5% rise from ¥4,638,001.86 in Q1 2020[30] Shareholder Information - The total number of shareholders reached 8,630 at the end of the reporting period[9] - The largest shareholder, Jiangsu Feixiang Chemical Co., Ltd., holds 48.66% of the shares[10] Other Financial Metrics - The weighted average return on equity decreased by 0.08 percentage points to 2.78%[5] - The company reported non-recurring gains of CNY 7,144,467.98 during the period[8] - Other income surged by 13626.89% to RMB 5,697,263.91, mainly from increased government subsidies unrelated to regular business activities[15] - The company's operating costs increased by 41.99% to RMB 242,886,115.59, primarily due to rising raw material prices[14] - The company reported a gross profit of CNY 33,373,527.90 for Q1 2021, compared to a gross loss of CNY 31,231,162.22 in Q1 2020[28]

Financial Performance - The company reported a total distributable profit of RMB 285,178,578.55 as of December 31, 2020[5]. - The proposed cash dividend is RMB 4.10 per 10 shares, totaling RMB 50,081,500, which represents 47.74% of the net profit attributable to shareholders[5]. - The company's operating revenue for 2020 was CNY 1,134,782,996.12, representing a 0.39% increase compared to CNY 1,130,330,548.61 in 2019[21]. - The net profit attributable to shareholders for 2020 was CNY 104,910,487.86, a 23.07% increase from CNY 85,245,957.02 in 2019[21]. - The net profit after deducting non-recurring gains and losses was CNY 96,012,263.43, reflecting a 16.57% increase from CNY 82,362,469.03 in 2019[21]. - The cash flow from operating activities for 2020 was CNY 165,574,725.46, a decrease of 15.95% compared to CNY 196,994,483.69 in 2019[21]. - The total assets at the end of 2020 were CNY 1,310,341,841.89, a 2.73% increase from CNY 1,275,510,964.99 at the end of 2019[22]. - The net assets attributable to shareholders at the end of 2020 were CNY 970,190,247.08, which is a 7.17% increase from CNY 905,279,759.22 at the end of 2019[22]. - The basic and diluted earnings per share were both ¥1.15, reflecting a growth of 23.66% year-on-year[25]. - The company's operating income for the reporting period was 1,134.78 million yuan, a slight increase of 0.39% compared to the previous year, while operating costs rose by 0.09% to 849.77 million yuan[106][107]. Research and Development - Research and development expenses accounted for 4.28% of operating revenue, a slight decrease from the previous year's 4.46%[23]. - The total R&D investment for the year was approximately ¥48.59 million, representing 4.28% of total revenue, a decrease of 3.62% from the previous year[67]. - The company maintained 102 R&D personnel, accounting for 13.23% of total employees, with an average salary of RMB 182,777.80[73]. - The company has set up multiple R&D centers focusing on polymer and membrane technology, ensuring alignment with market needs and strategic goals[42]. - The company adheres to a research and development strategy focused on "independent research and development as the mainstay, supported by external collaboration," establishing partnerships with several universities for technology development[43]. - The company has undertaken multiple national and provincial research projects, enhancing its core technologies in functional monomer and water-soluble polymer production[59]. - A total of 16 research projects were ongoing during the reporting period, with 42 new patents granted, including 14 invention patents[65]. - The company holds a total of 100 authorized patents, including 32 invention patents, reflecting continuous innovation[65]. Market and Product Development - The company focuses on hydrophilic functional polymer products and technologies, serving water-based industries such as water treatment and oil extraction, aiming for green development and ecological protection[35]. - The main products include functional monomers, water-soluble polymers, and water treatment membranes, with a complete industrial chain from raw materials to application technology services[36]. - The company is actively involved in the development of high-performance and new products to meet the increasing demands from downstream industries[46]. - The market for water-soluble polymers is characterized by high competition primarily on price, with a growing demand for high-performance products due to downstream industry upgrades[46]. - The company has successfully secured significant supply orders in the Taiwanese market for its membrane products, indicating a breakthrough in business development[51]. - The company aims to enhance production efficiency and resource recycling in industrial water processes, contributing to environmental sustainability[35]. - The company is focusing on the development of new functional monomers and water-soluble polymer applications, indicating a strong market position[68]. Corporate Governance and Compliance - The board of directors has confirmed the authenticity, accuracy, and completeness of the annual report[4]. - The company emphasizes the importance of improving corporate governance and compliance with regulatory requirements to enhance management levels[140]. - The company commits to avoiding and minimizing related party transactions with its controlled entities[164]. - The company guarantees that any profits from violations of commitments will be returned to the company[160]. - The company will comply with all legal and regulatory requirements regarding share reduction[161]. Risks and Challenges - The company has detailed various operational risks and corresponding countermeasures in the report[4]. - The company faces risks from fluctuations in the prices of key raw materials, which account for over 80% of its main business costs, particularly due to their strong correlation with crude oil prices[96][97]. - The company is exposed to risks from intensified market competition, particularly in the functional monomer and water treatment chemical sectors, where it competes with multinational corporations[98][99]. - The company's future performance may be adversely affected by changes in industry regulations and macroeconomic conditions, particularly in relation to environmental policies and market demand[95][103]. Future Outlook - The company provided a positive outlook for 2021, projecting a revenue growth of 20%[153]. - New product launches are expected to contribute an additional $50 million in revenue in the next fiscal year[154]. - The company plans to maintain a dividend payout ratio of 40% of its net income for the upcoming fiscal year[152]. - The management team emphasized the importance of sustainability initiatives, targeting a 25% reduction in carbon emissions by 2025[153]. - The company plans to strengthen brand building and market development to increase customer satisfaction and market share in core products[135].