Financial Performance - The company reported a distributable profit of RMB 282,694,693.04 as of December 31, 2021, with a proposed cash dividend of RMB 15 per 10 shares, totaling RMB 109,705,050.00, which accounts for 38.8% of the distributable profit and 80.63% of the net profit attributable to shareholders for the year[5]. - The company's operating revenue for 2021 was CNY 405,946,360.85, representing a year-on-year increase of 43.17%[22]. - Net profit attributable to shareholders for 2021 was CNY 136,059,195.46, an increase of 89.19% compared to the previous year[22]. - The basic earnings per share for 2021 was CNY 1.86, reflecting a growth of 57.63% year-on-year[23]. - The cash flow from operating activities for 2021 increased by 16.98% to CNY 140,907,242.25[22]. - The company's total assets at the end of 2021 were CNY 2,188,640,249.02, an increase of 8.06% from the previous year[22]. - The company achieved an annual revenue of 405.9464 million RMB, representing a year-on-year growth of 43.17%[33]. - The net profit attributable to the parent company was 136.0592 million RMB, with a year-on-year increase of 89.19%[33]. - The company reported a decrease in trading financial assets by 656.6317 million RMB during the reporting period[31]. - The company achieved a total revenue of 26,237 million RMB, with a net profit of 11,183.88 million RMB, reflecting a significant growth compared to the previous year[83]. Research and Development - Research and development expenses accounted for 21.26% of operating revenue in 2021, up from 18.29% in 2020[24]. - The company has invested in a "four-in-one" materials development and innovation platform, which includes material design, patent analysis, material characterization, and process development[42]. - The company has increased R&D investment, applying for 105 patents in the reporting period, including 102 invention patents, and has a total of 172 authorized patents by the end of the reporting period[65]. - The company is committed to continuous R&D investment to enhance product quality and diversify its product offerings, aiming to become an internationally recognized enterprise in the OLED materials and equipment sector[40]. - The company has established a stable R&D team and a comprehensive R&D mechanism since its establishment in 2005, focusing on the development of electroluminescent materials[61]. - The company has achieved significant advancements in the development of high-performance light-emitting materials, including high-efficiency red, green, and blue light materials[62]. - The company is enhancing its R&D capabilities to improve the stability and color purity of TADF materials, which have not yet achieved commercial viability[58]. - The company is focusing on the development of G8.5 (G8.6) high-generation evaporation sources and is increasing R&D efforts in small-scale evaporation machines[56]. - The company has successfully developed and produced 6th generation AMOLED linear evaporator source equipment, breaking foreign monopolies[91]. Market Position and Strategy - The OLED industry is experiencing significant growth, with China being the largest application market globally, leading to increased demand for upstream OLED materials and equipment[51]. - The company has become one of the few domestic manufacturers capable of producing terminal organic light-emitting materials, establishing itself as a technologically advanced OLED organic materials manufacturer[56]. - The company is focusing on the development of G8.5 and G8.6 high-generation evaporation sources, achieving phase results in line with the growing demand for AMOLED display materials[68]. - The company is committed to expanding its market presence and enhancing its product offerings through ongoing R&D and strategic initiatives[87]. - The company is actively involved in the installation, debugging, and after-sales support of its evaporation source equipment for client panel production lines[49]. - The company is exploring potential acquisitions to bolster its product portfolio, with a budget of 300 million allocated for strategic investments in 2022[150]. - The company plans to implement new marketing strategies aimed at increasing brand awareness, with a budget increase of 15% for marketing expenditures in 2022[150]. Corporate Governance and Compliance - The board of directors and supervisory board members have confirmed the authenticity, accuracy, and completeness of the annual report[4]. - The company has received a standard unqualified audit opinion from Da Xin Certified Public Accountants[5]. - The company has not faced any non-operating fund occupation by controlling shareholders or related parties[9]. - The company emphasizes that forward-looking statements in the report are based on subjective assumptions and may differ from actual results due to various factors[8]. - The company is actively enhancing its internal control system and governance structure to ensure compliance and protect shareholder rights[141]. - The company held three shareholder meetings in 2021, all of which passed resolutions without any objections[144]. - The company did not receive any penalties from securities regulatory authorities in the past three years[161]. Environmental Responsibility - The company emphasizes environmental protection and sustainable development, focusing on energy conservation and emission reduction[194]. - Wastewater from production meets the Class III discharge standards of the "Comprehensive Wastewater Discharge Standards" (GB8978 1996) and is treated before entering the Yitong River, minimizing environmental impact[198]. - The company employs a 70% efficiency active carbon adsorption system for treating organic waste gases, ensuring compliance with the "Comprehensive Emission Standards for Air Pollutants" (GB16297-1996)[199]. - The production process for evaporation source equipment does not generate waste gas, and wastewater is treated before discharge[200]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[198]. Employee Engagement and Development - The company has implemented a talent-first strategy, optimizing its organizational structure and performance system to enhance employee engagement and drive high-quality development[38]. - The total number of employees in the parent company and major subsidiaries is 284, with 123 in production, 22 in sales, 77 in technology, 14 in finance, and 48 in administration[173]. - The company has established a training program for new employees and tailored training plans to enhance employee development and engagement[175]. - The company has implemented a stock incentive plan, granting 963,700 restricted shares, which represents 1.32% of the total shares, to 25 employees, accounting for 9.77% of the total employee count[182].

2021 年第三季度报告 吉林奥来德光电材料股份有限公司 2021 年第三季度报告 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、准确性和完整性承担个别及连带责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 报表信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 证券代码：688378 证券简称：奥来德 | 项目 | 本报告期 | 本报告期比 上年同期增 | | 年初至报告期 末比上年同期 | | --- | --- | --- | --- | --- | | | | 减变动幅度 | 年初至报告期末 | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 131,398,893.11 | 491.26 | 382,309,307.34 | 1 ...

Financial Performance - The company's operating revenue for Q3 2021 was ¥131,398,893.11, representing a year-on-year increase of 491.26%[5] - Net profit attributable to shareholders for the same period was ¥46,391,088.98, an increase of 844.84% compared to the previous year[5] - The basic earnings per share for Q3 2021 was ¥0.63, reflecting a significant increase of 730.00% year-on-year[6] - The net profit for the year-to-date reached ¥146,916,713.10, marking a substantial increase of 313.17% compared to the same period last year[5] - The net profit for Q3 2021 was CNY 146,916,713.10, a significant increase from CNY 35,558,232.96 in Q3 2020, representing a growth of approximately 313%[24] - The total profit for Q3 2021 was CNY 163,246,404.90, compared to CNY 37,851,949.25 in Q3 2020, representing an increase of about 331%[24] - The basic and diluted earnings per share for Q3 2021 were both CNY 2.01, compared to CNY 0.63 in Q3 2020, marking an increase of approximately 219%[25] Revenue and Costs - The company experienced a 119.40% increase in operating revenue year-to-date, driven by significant sales growth in organic light-emitting materials and evaporation source equipment[11] - Total operating revenue for the first three quarters of 2021 reached ¥382,309,307.34, a significant increase from ¥174,252,184.94 in the same period of 2020, representing a growth of approximately 119.9%[23] - Total operating costs for the first three quarters of 2021 were ¥250,336,017.71, compared to ¥142,172,103.28 in 2020, indicating an increase of about 76.3%[23] - Operating income from sales and services reached 52.28 million, reflecting a substantial increase in sales revenue[12] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,071,705,438.45, showing a growth of 2.28% from the end of the previous year[6] - The company's total equity as of September 30, 2021, was ¥1,663,926,805.23, compared to ¥1,583,306,725.19 at the end of 2020, indicating an increase of about 5.1%[23] - Total liabilities decreased to ¥407,778,633.22 as of September 30, 2021, from ¥442,165,759.64 at the end of 2020, reflecting a reduction of approximately 7.8%[22] - The company’s total liabilities increased, with accounts payable rising by 65.65% due to increased procurement[11] Cash Flow - The company reported a cash flow from operating activities of ¥45,102,315.98 for the year-to-date, an increase of 31.70%[6] - The net cash flow from operating activities for the first three quarters of 2021 was CNY 45,102,315.98, up from CNY 34,247,199.89 in the previous year, reflecting a growth of approximately 31%[28] - The company incurred a total operating cash outflow of CNY 306,912,860.92 in the first three quarters of 2021, compared to CNY 210,928,472.73 in the same period of 2020[28] - The company reported a total cash inflow from investment activities of CNY 1,600,516,898.24, with a net cash flow from investment activities of CNY 438,927,852.50 for the first three quarters of 2021[29] - The company reported a total cash inflow from financing activities of CNY 5,078,332.05 in Q3 2021, a decrease from CNY 1,120,376,306.68 in the same quarter of the previous year[29] Research and Development - Research and development expenses totaled ¥20,651,730.08, which is 15.72% of operating revenue, a decrease of 46.45% compared to the previous year[6] - Research and development expenses for the first three quarters of 2021 amounted to ¥40,319,037.97, up from ¥31,193,093.98 in 2020, reflecting a growth of approximately 29.2%[23] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 4,492[14] - The largest shareholder, Xuan Jingquan, holds 15,925,800 shares, representing 21.78% of total shares[15] - The second-largest shareholder, Xuan Lingyi, owns 7,119,285 shares, accounting for 9.73%[15] Other Income and Expenses - Financial expenses increased to 232.86 million due to higher interest income[12] - Other income rose to 147.26 million primarily from increased government subsidies[12] - Credit impairment losses amounted to 781.96 million due to significant provisions for bad debts[12] - Cash paid for purchasing fixed assets and intangible assets was 98.15 million, indicating increased procurement[12] - Cash dividends distributed to shareholders totaled 6,575.66 million during the reporting period[12] Inventory and Accounts Receivable - Accounts receivable increased to ¥134,880,168.34 as of September 30, 2021, from ¥62,437,150.12 at the end of 2020, representing a growth of approximately 116.2%[20] - Inventory as of September 30, 2021, was ¥177,116,835.64, down from ¥190,764,933.53 at the end of 2020, showing a decrease of approximately 7.2%[21] - The company's cash and cash equivalents as of September 30, 2021, were ¥713,379,691.53, compared to ¥324,087,225.53 at the end of 2020, showing an increase of about 120.2%[20]

Financial Performance - The company reported a total revenue of 1.2 billion RMB for the first half of 2021, representing a year-on-year increase of 15%[19]. - The company's operating revenue for the first half of 2021 was ¥250,910,414.23, representing a 65.04% increase compared to ¥152,028,550.25 in the same period last year[20]. - Net profit attributable to shareholders increased to ¥100,525,624.12, a year-on-year growth of 140.57% from ¥41,786,549.19[22]. - Basic and diluted earnings per share rose by 80.43% to ¥1.3745, compared to ¥0.7618 in the previous year[21]. - The net cash flow from operating activities was ¥11,732,561.19, a significant improvement of 243.94% from a negative cash flow of ¥8,150,793.61 in the same period last year[20]. - The company's net assets attributable to shareholders increased by 1.95% to ¥1,614,163,647.32 from ¥1,583,306,725.19 at the end of the previous year[20]. - The net profit after deducting non-recurring gains and losses was 80.73 million yuan, reflecting a growth of 119.04% year-on-year[70]. - The company reported a substantial increase in other income, which rose by 240.10% to 13.88 million yuan, mainly from government subsidies[72]. Research and Development - The company is investing 200 million RMB in R&D for new technologies aimed at enhancing product performance and reducing production costs[19]. - Research and development expenses accounted for 15.10% of operating revenue, up from 14.82% in the previous year, indicating a focus on innovation[21]. - The company achieved a total R&D investment of ¥37,889,117.11, representing a significant increase of 68.21% compared to the previous year[43]. - The company synthesized and developed nearly 250 material structures, completing over 150 samples and recommending 24 materials to downstream manufacturers[41]. - The company filed 62 new invention patent applications and obtained 8 new patents during the reporting period, bringing the total to 517 applications and 147 granted patents[41]. - The company has developed high-performance light-emitting materials with improved thermal stability and film-forming properties[39]. - The company’s R&D investment in the current period was ¥25,955,922.74, which is a 15.23% increase from the previous period[43]. Market Expansion and Strategy - Future guidance indicates an expected revenue growth of 10-15% for the second half of 2021, driven by new product launches and market expansion strategies[19]. - Market expansion efforts include entering two new international markets, which are projected to contribute an additional 5% to overall revenue by the end of 2021[19]. - The company has no plans for mergers or acquisitions in the near term, focusing instead on organic growth and product development[19]. - The company aims to continuously enhance its R&D capabilities and expand its product offerings to ensure sustainable growth[55]. Operational Efficiency - The company has implemented new strategies to enhance operational efficiency, aiming for a 10% reduction in operational costs by the end of 2021[19]. - The company has established a comprehensive quality control system, ensuring high product quality and customer satisfaction without any quality disputes reported[56]. - The company has implemented a production model based on "sales-driven production + safety stock," ensuring alignment with market demand and customer orders[35]. Risks and Challenges - The management highlighted potential risks including supply chain disruptions and fluctuating raw material prices, which could impact future performance[4]. - The company is facing increased competition in the organic light-emitting materials industry due to the expiration of core patents and rising market demand[69]. Environmental Compliance - The company has adhered to environmental regulations, with no incidents of pollution or administrative penalties reported during the reporting period[99]. - Wastewater from the company meets the Class III discharge standards as per national regulations, minimizing environmental impact[100]. - The company has achieved a 70% treatment efficiency for organic waste gas through activated carbon adsorption devices[100]. - Solid waste generated is classified and treated according to hazardous waste regulations, ensuring minimal environmental impact[101]. Shareholder and Governance - The company held four shareholder meetings during the reporting period, with all proposed resolutions being approved without any rejections[91]. - The company has initiated a stock incentive plan, with the first proposal approved on March 14, 2021, aimed at enhancing employee motivation and retention[94]. - The company’s board of directors underwent changes, with several new non-independent directors elected to enhance governance[93]. - The company has established a long-term effective strategy for managing shareholding and related transactions[119]. Financial Management - The company aims to enhance the efficiency of raised fund usage and reduce financial costs to improve profitability and protect shareholder interests[163]. - The total amount used for share repurchase by the controlling shareholder in a single accounting year shall not exceed 30% of the last cash dividend received[136]. - The company will ensure compliance with all relevant laws and regulations regarding share transfers and reductions[131].

Financial Performance - In 2020, the company's operating revenue was CNY 283.54 million, a decrease of 5.70% compared to 2019[23]. - The net profit attributable to shareholders was CNY 71.92 million, down 33.82% from the previous year[23]. - The basic earnings per share decreased by 44.08% to CNY 1.18[24]. - The gross profit margin for 2020 was 55.50%, a decrease of 5.89 percentage points from 2019[33]. - The company achieved a main business revenue of 282.62 million RMB, a decrease of 5.70% compared to the previous year[116]. - The main business cost was 126.17 million RMB, an increase of 8.69% year-on-year[116]. - The gross profit margin for organic light-emitting materials was 30.10%, down 19.40 percentage points from the previous year[117]. - Revenue from organic light-emitting materials decreased by 26.27% due to delays in new product market introduction and declining prices of existing products[118]. - The company reported a net profit attributable to shareholders of 36,358,175.71 RMB in Q4 2020, following a loss in Q2 and Q3[47]. R&D and Innovation - Research and development expenses accounted for 18.29% of operating revenue, an increase of 6.26 percentage points from 2019[25]. - The company has invested significantly in R&D, establishing a comprehensive R&D system and collaborating with research institutions and industry peers to enhance innovation capabilities[53][55]. - The company increased its R&D investment to CNY 51,854,838.88, a significant rise of 43.34% compared to the previous year[79]. - Total R&D expenditure accounted for 18.29% of the company's revenue, up from 12.03% in the previous year, indicating a strategic focus on innovation[79]. - The company applied for 148 new patents during the reporting period, including 137 invention patents, enhancing its intellectual property portfolio[76]. - The company completed over 400 material structure design projects and synthesized more than 300 samples in 2020[39]. - The company has made significant advancements in organic material uniformity and evaporation control technologies, improving production efficiency[75]. - The company is developing next-generation light-emitting materials and key polymer functional materials to adapt to future market trends[152]. Market Position and Strategy - The company specializes in the research, manufacturing, and sales of organic light-emitting materials and evaporation source equipment, crucial for OLED panel production[52]. - The OLED industry in China is rapidly developing, with domestic manufacturers gaining competitive strength and a supply chain system being established[63]. - The company has established stable partnerships with major OLED panel manufacturers, including Visionox, BOE, and TCL, due to its high-quality products[52]. - The OLED product structure is diversifying, with major smartphone brands adopting OLED screens as mainstream models, leading to rapid market penetration[148]. - The company aims to enhance product quality and diversify its product range through continuous R&D investment[52]. - The company is committed to becoming an internationally recognized R&D and manufacturing enterprise in the OLED materials and equipment sector[52]. Financial Management and Investments - The total expenses for the period increased by 15.83% to 9,361.10 million RMB[42]. - Financial expenses decreased significantly by 311.94% to -363.91 million RMB, primarily due to increased interest income from idle funds[36]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion in 2020, representing a year-over-year growth of 25%[172]. - The company plans to implement stock repurchase measures to stabilize its stock price, including repurchasing shares, increasing holdings by controlling shareholders, and increasing holdings by directors and senior management[180]. - The total amount used for stock repurchase in a single accounting year should not exceed 30% of the audited net profit attributable to the parent company's shareholders from the previous year[181]. Risk Management - The company reported no significant risks during the reporting period, ensuring a stable operational environment[4]. - The company faced risks related to the concentration of customers and potential declines in demand for evaporator products post-2024[109]. - The company emphasizes that forward-looking statements in the report are subject to various uncertainties and may differ from actual results[8]. - The company faced risks from intensified competition in the OLED industry and potential impacts from the ongoing COVID-19 pandemic[112][113]. Corporate Governance and Compliance - The board of directors and senior management have confirmed the accuracy and completeness of the annual report[4]. - The company has received a standard unqualified audit report from Da Xin Accounting Firm[5]. - The company has not violated any decision-making procedures regarding external guarantees[9]. - The company will ensure that any share reduction plans are made cautiously to maintain stable operations[165]. - The company has established a framework to ensure compliance with share transfer regulations during the holding period[169].

Financial Performance - Operating revenue for the period was CNY 129,375,153.61, representing a year-on-year increase of 9.42%[5] - Net profit attributable to shareholders was CNY 42,386,916.08, a decrease of 2.34% compared to the same period last year[5] - Basic and diluted earnings per share were CNY 0.7125, down 13.22% from CNY 0.8210 in the previous year[5] - The company reported non-recurring gains of CNY 9,719,974.10 for the period[9] - Total operating revenue for Q1 2021 was CNY 129,375,153.61, an increase of 9.57% compared to CNY 118,242,523.67 in Q1 2020[24] - Net profit for Q1 2021 reached CNY 52,106,890.18, representing a 15.1% increase from CNY 45,031,666.91 in Q1 2020[25] - Earnings per share for Q1 2021 were CNY 0.7125, down from CNY 0.8210 in Q1 2020[25] - The total comprehensive income for Q1 2021 was 7,375,104.07 CNY, compared to a loss of 7,655,206.78 CNY in Q1 2020[28] - Basic and diluted earnings per share for Q1 2021 were 0.1008 CNY, an improvement from a loss of 0.1396 CNY per share in Q1 2020[28] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,987,084,584.45, a decrease of 1.90% compared to the end of the previous year[5] - Current assets totaled CNY 1,375,003,980.88, down from CNY 1,450,436,926.48, indicating a decrease of about 5.2%[16] - Cash and cash equivalents decreased to CNY 233,155,643.08 from CNY 324,087,225.53, reflecting a decline of approximately 28.1%[16] - Total liabilities decreased to CNY 351,670,969.08 from CNY 442,165,759.64, representing a decline of about 20.5%[18] - The total liabilities as of Q1 2021 amounted to CNY 142,886,975.66, a decrease from CNY 178,392,994.86 in the previous year[22] Cash Flow - The net cash flow from operating activities was CNY -68,351,254.98, a decline of 8.17% compared to the previous year[5] - Cash inflows from operating activities totaled 22,998,534.18 CNY in Q1 2021, slightly up from 22,402,253.92 CNY in Q1 2020[30] - Cash outflows from operating activities increased to 91,349,789.16 CNY in Q1 2021, compared to 85,593,664.50 CNY in Q1 2020[30] - Cash inflows from investing activities were 574,935,658.56 CNY in Q1 2021, with cash outflows of 597,207,183.61 CNY, resulting in a net cash flow of -22,271,525.05 CNY[30] - The net cash flow from financing activities was 18,894,750.00 CNY in Q1 2021, with no cash inflows from new borrowings reported[31] Shareholder Information - The total number of shareholders at the end of the reporting period was 5,172[10] - The largest shareholder, Xuan Jingquan, held 21.78% of the shares, totaling 15,925,800 shares[10] Research and Development - Research and development expenses accounted for 13.40% of operating revenue, an increase of 3.79 percentage points year-on-year[7] - Research and development expenses for Q1 2021 were CNY 11,200,063.09, slightly down from CNY 11,359,896.31 in Q1 2020[24] Other Financial Metrics - The weighted average return on equity decreased to 3.24%, down 6.27 percentage points from the previous year[5] - Financial expenses showed a dramatic change, with a decrease of 559.85% to -CNY 1,440,375.02 from CNY 313,225.28, due to increased interest income[15] - Other income surged by 307.88% to CNY 7,684,472.42 from CNY 1,884,023.22, primarily due to government subsidies received[15] - The company reported a significant increase in accounts payable, rising to CNY 46,913,034.77 from CNY 32,696,500.71, an increase of approximately 43.5%[17]

Financial Performance - The company's operating revenue for 2020 was CNY 283,535,702.06, a decrease of 5.70% compared to CNY 300,664,702.66 in 2019[23]. - The net profit attributable to shareholders for 2020 was CNY 71,916,408.67, down 33.82% from CNY 108,668,488.09 in 2019[23]. - The net cash flow from operating activities was CNY 120,457,669.42, a decrease of 14.62% compared to CNY 141,089,906.40 in 2019[23]. - The basic earnings per share for 2020 was CNY 1.18, a decline of 44.08% from CNY 2.11 in 2019[24]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 54,520,527.89, down 38.70% from CNY 88,938,945.40 in 2019[23]. - The company's total assets increased by 145.51% to CNY 2,025,472,484.83 at the end of 2020, compared to CNY 824,999,713.35 at the end of 2019[23]. - The company's net assets attributable to shareholders increased by 250.95% to CNY 1,583,306,725.19 at the end of 2020, compared to CNY 451,151,916.15 at the end of 2019[23]. - The company reported a total asset increase of 145.51%, reaching approximately ¥2,025.47 million, compared to ¥824.99 million at the beginning of the period[77]. - The net assets attributable to shareholders increased by 250.95%, amounting to ¥1,583.31 million, up from ¥451.15 million, primarily due to the funds raised from the initial public offering[77]. - The company achieved a main business revenue of 282.54 million RMB, a decrease of 5.70% compared to the previous year[100]. R&D and Innovation - Research and development expenses accounted for 18.29% of operating revenue in 2020, an increase of 6.26 percentage points from 12.03% in 2019[25]. - The company has invested significantly in R&D, establishing a comprehensive R&D system and focusing on independent innovation and collaboration with research institutions and industry peers[36]. - The company increased its R&D investment by 43.34% year-on-year, totaling approximately ¥51.85 million, which represents 18.29% of its operating revenue[62]. - During the reporting period, the company filed 148 new patent applications and obtained 28 new authorized patents, bringing the total to 497 applications and 148 authorized patents[60]. - The company successfully developed over 400 material structures and synthesized more than 300 samples, with nearly 10 materials performing equally or better than foreign counterparts[59]. - The company has established a comprehensive R&D mechanism and a stable R&D team, focusing on the development of OLED organic light-emitting materials since its establishment in 2005[56]. - The company’s core technologies, including high-efficiency electronic materials and high-stability hole transport materials, are all independently developed and have been widely applied in mass production[56]. - The company has made significant advancements in core technologies, including high migration rate electron transport materials and high-efficiency deep red light materials[57]. - The company is actively exploring new product categories and enhancing its R&D strength to meet market demands and improve its competitive position[55]. Market Position and Strategy - The company has established itself as a key player in the OLED industry, focusing on the research, manufacturing, and sales of organic light-emitting materials and evaporation source equipment[34]. - The company has established stable partnerships with major clients such as Chengdu BOE and Wuhan Huaxing, providing evaporation source equipment with good operational status[35]. - The domestic OLED industry is rapidly developing, providing significant growth opportunities for upstream material and equipment manufacturers as production capacity shifts to China[45]. - The company aims to enhance product quality and diversify its offerings through continuous R&D investment, aspiring to become a globally recognized player in the OLED materials and equipment sector[35]. - The OLED materials market is characterized by high technical barriers, with increasing competition as domestic manufacturers strive to close the technology gap with established foreign firms[46]. - The company has become one of the few domestic manufacturers capable of independently producing organic light-emitting materials, establishing itself as a technologically advanced OLED organic materials manufacturer in China[50]. - The company has successfully broken foreign monopolies in the linear evaporation source market, becoming the only domestic enterprise capable of independent research, development, and industrialization of this core component[49]. - The company is focusing on enhancing collaboration with clients and maintaining R&D investments to accelerate product upgrades and expand market share[48]. - The company is committed to expanding its market presence by leveraging hard technology and products, ensuring stable market development[133]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from Da Xin Certified Public Accountants[5]. - The board of directors and supervisory board members have confirmed the accuracy and completeness of the annual report[4]. - The company has a commitment to transparency and has designated multiple media outlets for information disclosure[18]. - The company emphasizes that forward-looking statements in the report are subject to various uncertainties and may differ from actual results[8]. - The company has not violated any decision-making procedures regarding external guarantees[9]. - The company guarantees that any share reduction within two years post-lock-up will not be below the IPO price, with adjustments for any corporate actions affecting share price[142]. - The company will comply with all relevant regulations regarding shareholding and transfer restrictions, ensuring stable operations and capital management[145]. - The company has committed to fair trading practices and will not use related party transactions to transfer benefits improperly[182]. - The company will ensure that the proposed stock incentive plan is linked to the execution of compensation measures[172]. Shareholder Returns and Dividends - In 2020, the company plans to distribute a cash dividend of RMB 10 per 10 shares, totaling RMB 73,136,700, which accounts for 101.70% of the net profit attributable to shareholders[6]. - Shareholder returns are prioritized, with a planned dividend payout of $0.50 per share, reflecting a 10% increase from the previous year[157]. - The company plans to implement stock repurchase measures to stabilize its stock price, including repurchasing shares, increasing holdings by controlling shareholders, and increasing holdings by directors and senior management[163]. Risks and Challenges - The company reported no significant risks during the reporting period, ensuring a stable operational environment[4]. - The company faces intensified competition in the OLED industry due to the entry of new domestic players and the expiration of key patents[95]. - The company has a high concentration of customers in the evaporator business, which poses risks if major clients face operational difficulties[93]. - The company relies on imported materials for some core components of its evaporator products, which poses risks if supply chains are disrupted[94]. Future Outlook - The company is focusing on enhancing its quality control systems to ensure scientific and standardized management, reinforcing the concept that "quality is life"[133]. - The company is committed to sustainability initiatives, aiming to reduce carbon emissions by 25% over the next five years[156]. - The company is considering strategic acquisitions to bolster its market position, with a budget of $100 million earmarked for potential targets[161]. - The company provided guidance for the next quarter, expecting revenue to be between $400 million and $450 million, indicating a potential growth of 10% to 12%[157].

Financial Performance - Revenue for the first nine months decreased by 3.83% year-on-year, totaling CNY 174,252,184.94[6] - Net profit attributable to shareholders decreased by 42.47% year-on-year, amounting to CNY 35,558,232.96[6] - Basic and diluted earnings per share decreased by 48.78% to CNY 0.63[7] - Total operating revenue for Q3 2020 was ¥22,223,634.69, a decrease of 10.8% compared to ¥24,924,774.07 in Q3 2019[27] - The company reported a net profit of ¥35,558,232.96 for the first three quarters of 2020, down from ¥61,807,381.20 in the same period of 2019, a decline of 42.3%[30] - The company reported a total comprehensive income for Q3 2020 of CNY 40,839,319.23, compared to a loss of CNY 4,687,334.27 in the same quarter last year[35] Assets and Liabilities - Total assets increased by 140.33% year-on-year, reaching CNY 1,982,740,693.45[6] - Net assets attributable to shareholders increased by 242.89% year-on-year, totaling CNY 1,546,948,549.48[6] - Current assets totaled CNY 1,519,465,301.63, up from CNY 444,263,645.88, indicating a growth of about 241% year-over-year[19] - Total liabilities amounted to CNY 435,792,143.97, compared to CNY 373,847,797.20, showing an increase of about 16.6%[20] - The company’s total liabilities decreased by 97.0% in tax payable, down to CNY 304,195.66, due to a reduction in corporate income tax[12] Cash Flow - Net cash flow from operating activities improved by 667.98% year-on-year, amounting to CNY 34,247,199.89[6] - The company achieved a net cash flow from operating activities of CNY 34,247,199.89, recovering from a net outflow of CNY 6,029,602.06 in the same period last year[38] - The net increase in cash and cash equivalents for the third quarter of 2020 was 989,404,615.57 RMB, a substantial rise from 7,286,009.15 RMB in the same quarter of 2019[41] - The company reported total financing cash inflows of CNY 1,120,376,306.68 in the first nine months of 2020, significantly higher than CNY 210,336,624.03 in the previous year[39] Shareholder Information - The total number of shareholders reached 7,023 by the end of the reporting period[10] - The largest shareholder, Xuan Jingquan, holds 21.78% of the shares, totaling 15,925,800 shares[10] Research and Development - R&D expenditure as a percentage of revenue increased by 3.25 percentage points to 17.90%[7] - Research and development expenses for Q3 2020 were ¥8,668,624.03, a decrease of 30.5% from ¥12,461,725.50 in Q3 2019[29] Government Support - The company received government subsidies amounting to CNY 7,540,272.14 for the year-to-date[8] Financial Adjustments - The company implemented the new revenue recognition standard, resulting in a decrease of accounts receivable by ¥10,039,220.00 and an increase in contract assets by the same amount[48] - The new standard also led to a reduction in advance receipts by ¥198,469,159.90 and an increase in contract liabilities by the same amount[48] - The company has adjusted its financial statements to reflect the cumulative impact of the new revenue recognition standard, affecting various balance sheet items[49]