江苏泛亚微透科技股份有限公司 证券代码：688386 证券简称：泛亚微透 公告编号：2023-019 关于召开 2022 年度业绩说明会的公告 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、准确性和完整性承担个别及连带责任。 重要内容提示： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2023 年 04 月 03 日(星期一) 至 04 月 10 日(星期一)16:00 前 登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 zhangquan@microvent.com.cn 进行提问。公司将在说明会上对投资者普遍关注 的问题进行回答。 江苏泛亚微透科技股份有限公司（以下简称"公司"）已于 2023 年 3 月 25 日发布公司 2022 年度报告，为便于广大投资者更全面深入地了解公司 2022 年 度经营成果、财务状况，公司计划于 2023 年 04 月 11 日 下午 15:00-16:00 举 行 2022 年度业绩说明会，就投资者关心的问题进行交流。 一、 说明会类型 本 ...

Financial Performance - The company's operating revenue for Q3 2022 was ¥99,306,634.64, representing a year-on-year increase of 45.38%[5] - The net profit attributable to shareholders for Q3 2022 was ¥16,373,054.66, reflecting a significant increase of 73.25% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥15,765,995.84, up 86.27% year-on-year[5] - Basic and diluted earnings per share for Q3 2022 were both ¥0.23, an increase of 64.29% compared to the previous year[6] - The net profit attributable to shareholders for the year-to-date period was ¥42,802,440.58, showing a slight decrease of 1.43% compared to the previous year[5] - Total operating revenue for the first three quarters of 2022 reached ¥245,570,860.75, an increase of 16.5% compared to ¥210,863,015.22 in the same period of 2021[21] - Total operating costs for the first three quarters of 2022 were ¥200,519,535.60, up 20.9% from ¥165,715,207.84 in the previous year[21] - Net profit for the third quarter of 2022 was ¥42,431,872.47, slightly down by 2.0% from ¥43,318,884.04 in the same quarter of 2021[22] Assets and Liabilities - The total assets at the end of Q3 2022 amounted to ¥903,957,256.90, marking a 4.74% increase from the end of the previous year[6] - As of September 30, 2022, total assets amounted to RMB 903,957,256.90, an increase from RMB 863,010,668.04 at the end of 2021[18] - Current assets decreased to RMB 347,026,015.12 from RMB 424,426,347.28 year-over-year, reflecting a decline of approximately 18.2%[16] - Total liabilities decreased to RMB 236,291,718.05 from RMB 247,140,944.50, a reduction of about 4.0%[19] - The company's equity increased to RMB 667,665,538.85 from RMB 615,869,723.54, reflecting a growth of approximately 8.4%[19] Cash Flow and Investments - Cash flow from operating activities for the first three quarters of 2022 was ¥57,484,160.80, an increase of 10.5% from ¥51,857,020.21 in the same period of 2021[26] - Cash received from sales of goods and services in the first three quarters of 2022 was ¥235,273,147.91, up 22.5% from ¥192,029,057.43 in the previous year[26] - The company recorded a significant cash inflow from investment activities of ¥374,512,559.91 in the first three quarters of 2022, compared to ¥755,715,319.13 in the same period of 2021[26] - The net cash flow from investment activities was -149,257,125.45, compared to -174,511,187.56 in the previous period, indicating a slight improvement[27] - Cash inflow from financing activities totaled 49,500,000.00, down from 183,000,000.00 in the previous period, reflecting a decrease in financing received[27] - The total cash and cash equivalents at the end of the period were 76,480,102.70, down from 98,303,413.90 previously, indicating a decrease in liquidity[27] - The net increase in cash and cash equivalents was -96,488,296.98, compared to -25,739,948.17 in the previous period, highlighting a worsening cash position[27] - The cash outflow from investment activities was 523,769,685.36, compared to 930,226,506.69 in the previous period, showing a reduction in investment spending[27] Research and Development - Research and development expenses totaled ¥4,454,341.89, accounting for 4.49% of operating revenue, a decrease of 2.05 percentage points year-on-year[6] - Research and development expenses for the first three quarters of 2022 amounted to ¥12,182,632.42, compared to ¥11,868,615.56 in the same period of 2021, reflecting a growth of 2.6%[22] Operational Context - The company experienced a recovery in business operations due to the easing of the pandemic in Shanghai and other regions, positively impacting the automotive supply chain[10] Other Financial Metrics - The weighted average return on equity was 2.58%, an increase of 0.89 percentage points compared to the same period last year[6] - The company recognized a total of ¥607,058.82 in non-recurring gains for the current period, with government subsidies contributing significantly to this figure[9] - The deferred tax assets increased to RMB 4,204,877.68 from RMB 2,353,192.43, reflecting a growth of approximately 78.7%[18] - The long-term investments in fixed assets rose to RMB 255,814,513.43 from RMB 232,927,690.09, an increase of about 9.8%[16] - The company reported a significant increase in accounts receivable, which rose to RMB 123,391,061.59 from RMB 111,809,653.01, an increase of approximately 10.3%[16] - The cash paid for debt repayment was 50,000,000.00, slightly up from 49,500,000.00 in the previous period, indicating stable debt servicing[27] - The cash paid for dividends and interest was 4,257,706.92, down from 36,454,697.22, reflecting a reduction in shareholder returns[27] - The company has maintained a stable capital structure with a paid-in capital of RMB 70,000,000.00, unchanged from the previous year[19] - The company has not adopted new accounting standards, maintaining consistency in financial reporting[27]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥146.26 million, a 2.60% increase compared to ¥142.55 million in the same period last year[21]. - The net profit attributable to shareholders decreased by 22.20% to ¥26.43 million from ¥33.97 million year-on-year[21]. - The net cash flow from operating activities increased significantly by 73.53% to ¥55.36 million, driven by increased collections and government subsidies[22]. - The company's net assets at the end of the reporting period rose by 5.31% to ¥617.31 million from ¥586.20 million at the end of the previous year[21]. - The basic earnings per share decreased by 22.45% to ¥0.38 from ¥0.49 in the same period last year[21]. - The total comprehensive income for the first half of 2022 was CNY 26,429,385.92, with a decrease of CNY 126,479.08 compared to the previous period[174]. - The total profit for the first half of 2022 was CNY 30,031,020.03, a decrease of 21.7% from CNY 38,415,062.23 in the first half of 2021[162]. - The company's operating profit for the first half of 2022 was CNY 30,031,369.59, down from CNY 38,469,033.18 in the same period of 2021[162]. Research and Development - Research and development expenses accounted for 5.28% of operating revenue, slightly up from 5.19% year-on-year[21]. - The company has obtained a total of 212 authorized patents as of June 30, 2022, with 8 new patents granted during the reporting period[42]. - The company has invested a total of RMB 2,941.89 million in various research projects, with a current period investment of RMB 772.83 million[51]. - The number of R&D personnel has increased to 56, representing 16.57% of the total workforce, up from 13.38% in the previous year[53]. - The company has collaborated with multiple enterprises to draft two group standards for aerogel products, promoting industry development and new applications[42]. - The company has made significant advancements in modifying ePTFE membranes, enhancing their performance characteristics for various applications[41]. - The company has submitted multiple patent applications for innovative composite materials, indicating a strong commitment to R&D and market expansion[51]. Operational Risks and Management - The company has detailed various operational risks and corresponding countermeasures in the report[5]. - The company faces risks related to high customer concentration, primarily serving domestic joint ventures and independent brand automakers[70]. - The company is closely monitoring the impact of the ongoing COVID-19 pandemic on its operations and the broader economy[79]. - The company has not reported any significant changes in the capitalized R&D investment ratio during the reporting period[46]. Corporate Governance and Compliance - The financial report has been declared to be true, accurate, and complete by the responsible persons of the company[6]. - The company has not violated decision-making procedures for providing guarantees[10]. - The company has committed to transparency in its financial disclosures, with reports available on the Shanghai Stock Exchange website[19]. - The company has established necessary environmental protection facilities, ensuring that waste gas is organized and discharged, and wastewater is treated at a municipal sewage treatment plant[102]. - The company has committed to not transferring or entrusting its shares for six months following the IPO, which includes shares held prior to the issuance[111]. Shareholder Information - The largest shareholder, Zhang Yun, holds 19,511,467 shares, representing 27.87% of the total shares[136]. - The second largest shareholder, Changzhou Saifu High-tech Investment Center, holds 8,094,724 shares, accounting for 11.56%[136]. - The total number of ordinary shareholders as of the end of the reporting period was 3,889[134]. - The company has a lock-up period for shares held by major shareholders, with Zhang Yun's shares becoming tradable on October 16, 2023, after a 36-month lock-up[140]. Investment and Capital Structure - The company has temporarily used idle raised funds to purchase financial products, with a total actual income of 284,134.23 yuan from various structured deposit products[131]. - The project for high water-resistant ePTFE modified membrane has an investment commitment of 63 million yuan, with 35,780,930.18 yuan invested, representing a progress of 56.80%[128]. - The SiO2 aerogel and ePTFE composite material project has a total investment commitment of 112 million yuan, with 74,530,262.96 yuan invested, achieving a progress of 90.37%[128]. - The company has established a joint venture for the development of ePTFE functional membranes and hydrogen fuel cell technology, with a registered capital of ¥100 million[89]. Market and Product Development - The company continues to focus on the automotive industry, which has been impacted by supply chain disruptions due to the pandemic[21]. - The company is expanding its product applications into healthcare and power communication sectors, leveraging its core technologies[26]. - The company is focusing on the automotive industry's transition to new energy and intelligence, positioning itself for future growth[62]. - The company has established stable partnerships with well-known domestic and international automotive lighting manufacturers for its ePTFE membrane products[28]. Financial Position - Cash and cash equivalents decreased by 53.00% to ¥81,288,334.89, compared to ¥172,968,399.68 at the end of the previous year[87]. - Total assets increased from ¥863,010,668.04 to ¥879,066,783.23, a growth of about 1.9%[152]. - Total liabilities decreased from ¥247,140,944.50 to ¥232,212,181.43, a decrease of approximately 6%[152]. - Shareholders' equity increased from ¥615,869,723.54 to ¥646,854,601.80, an increase of about 5%[152].

Financial Performance - The company achieved operating revenue of RMB 316.62 million in 2021, representing a year-on-year increase of 14%[20]. - Net profit attributable to shareholders reached RMB 66.40 million, up 20.13% compared to the previous year[20]. - The company reported a total revenue of 4,301.33 million RMB, with a gross profit of 1,810.10 million RMB, resulting in a gross margin of approximately 42.1%[103]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the fiscal year, representing a 20% year-over-year growth[190]. - The gross margin improved to 45%, up from 40% in the previous year, reflecting better cost management and pricing strategies[190]. - The company reported a net profit of 300 million RMB, a 15% increase compared to the last fiscal year[190]. Research and Development - Research and development expenses accounted for 5.72% of operating revenue, an increase of 0.36 percentage points from the previous year[21]. - R&D investment reached 18.101 million yuan, a year-on-year increase of 21.56%[31]. - The number of R&D personnel expanded to 61, accounting for 16.58% of total employees[31]. - The company obtained 18 new patents during the reporting period, bringing the total number of patents to 204[99]. - The company is investing in research and development to innovate and improve its product offerings, aiming for a competitive edge in the market[187]. Market Position and Strategy - The company operates in a niche market characterized by high technical barriers and high gross margins[12]. - The company’s strategic focus includes expanding into automotive, consumer electronics, and military sectors, with significant breakthroughs in new business development and technology research[30]. - The company aims to expand its product applications in medical, communication, and military sectors, leveraging its core technologies of ePTFE and SiO2 aerogel[162]. - The company is focusing on diversifying its product offerings and expanding into new markets, including consumer electronics and renewable energy[165]. - The company plans to maintain high R&D investment levels, despite the inherent risks associated with new product development and market competition[113]. Operational Efficiency - The company primarily adopts a self-production model, with some simple labor-intensive products outsourced to improve operational efficiency[56]. - The production plan is based on customer orders, considering capacity load, raw materials, and equipment, ensuring timely delivery[57]. - The company is committed to improving management efficiency and profitability through cost control and innovative management practices[167]. - The company has established a comprehensive supply chain management system, ensuring the quality and stability of raw material supply through long-term partnerships[55]. Risks and Challenges - The company faces various operational risks, which are detailed in the "Management Discussion and Analysis" section of the report[4]. - The company is exposed to raw material price volatility, particularly due to fluctuations in oil prices affecting key inputs[118]. - The company faces risks related to high customer concentration, primarily relying on major automotive manufacturers for sales[117]. - The company faced risks related to macroeconomic uncertainties, including potential impacts from geopolitical tensions and the ongoing effects of the COVID-19 pandemic[125]. Governance and Compliance - The company is committed to ensuring the authenticity, accuracy, and completeness of the annual report, with all board members present at the meeting[8]. - The company strictly adheres to legal regulations for information disclosure, ensuring timely and accurate communication with investors[176]. - The company has established a strong governance structure and has complied with relevant laws and regulations to ensure operational transparency[170]. - The board of directors and supervisory board were re-elected during the 2021 annual general meeting[176]. Acquisitions and Investments - The company acquired 60% of Dayin Xisheng's equity in cash, expanding its aerogel business into the military sector[34]. - The company acquired 60% of Shanghai Dayin Xisheng New Materials Co., Ltd., which began contributing to consolidated financials from September 2021[140]. - The company invested 100 million yuan in the hydrogen fuel cell proton exchange membrane project, funded by its own capital[122]. - The company has announced a strategic acquisition of a local competitor, valued at 300 million RMB, aimed at increasing production capacity and market reach[190]. Product Development and Innovation - The company focuses on the development of advanced materials such as ePTFE and aerogels, which have unique properties for various applications[12]. - The company has developed various innovative products, including breathable plugs and membranes, which have been successfully applied in multiple industries[162]. - The company has made significant advancements in ePTFE membrane composite technology, improving breathability and structural strength[96]. - The company is conducting research on aerogel insulation materials for electric vehicles, with a total investment of ¥1,500,000[100]. Financial Health - The company has a registered capital of 100 million RMB and is located in Changzhou, Jiangsu Province[14]. - The company has received a standard unqualified audit report from Tianjian Accounting Firm[8]. - Cash and cash equivalents increased by 39.44% to 172,968,399.68, reflecting improved cash management[152]. - The company reported a significant increase in goodwill to 113,009,826.91 due to the acquisition of Da Yin Xi Sheng[152].

Financial Performance - The company's operating revenue for Q1 2022 was ¥75,226,296.26, representing a year-on-year increase of 9.50%[4] - The net profit attributable to shareholders was ¥18,002,002.72, reflecting an increase of 11.98% compared to the same period last year[4] - The basic earnings per share for the period was ¥0.26, an increase of 11.98% year-on-year[4] - Net profit for Q1 2022 reached CNY 18,090,454.47, representing a 12.5% increase from CNY 16,075,966.83 in Q1 2021[18] - Earnings per share for Q1 2022 were CNY 0.26, compared to CNY 0.23 in Q1 2021, indicating a growth of 13%[18] - The company reported a total comprehensive income of CNY 18,090,454.47 for Q1 2022, compared to CNY 16,075,966.83 in Q1 2021[18] Cash Flow - The net cash flow from operating activities was ¥27,543,050.89, showing a significant increase of 53.33%[4] - The net cash flow from operating activities was 27,543,050.89, an increase from 17,963,591.29 in the previous year, reflecting a growth of approximately 53.5%[21] - The total cash inflow from operating activities was 83,856,379.51, compared to 64,819,484.84 in the previous year, showing an increase of about 29.3%[21] - The total cash outflow from operating activities was 56,313,328.62, up from 46,855,893.55 in the previous year, reflecting an increase of approximately 20.5%[21] - Cash received from sales of goods and services in Q1 2022 was CNY 77,893,560.91, an increase of 22.8% from CNY 63,477,825.22 in Q1 2021[20] - The ending balance of cash and cash equivalents was 40,682,977.38, a decrease from 155,313,827.86 in the previous year, representing a decline of approximately 73.8%[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥865,086,910.33, a slight increase of 0.24% from the end of the previous year[5] - Current assets decreased to RMB 303,529,227.07 from RMB 424,426,347.28, representing a decline of approximately 28.5%[12] - Non-current assets rose to RMB 561,557,683.26 from RMB 438,584,320.76, an increase of approximately 28%[13] - Total liabilities as of Q1 2022 amounted to CNY 231,126,732.31, down from CNY 247,140,944.50 in the previous year[14] - Accounts payable decreased to RMB 37,550,995.78 from RMB 51,552,345.39, a decline of approximately 27%[13] Research and Development - Research and development expenses totaled ¥3,745,592.45, which is a decrease of 11.75% year-on-year, and accounted for 4.98% of operating revenue, down by 1.20 percentage points[4] - Research and development expenses for Q1 2022 were CNY 3,745,592.45, a decrease of 11.8% compared to CNY 4,244,417.16 in Q1 2021[17] Market and Strategy - The company has not reported any significant new product developments or market expansion strategies during this quarter[11] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[19] Other Financial Metrics - The weighted average return on equity was 3.02%, an increase of 0.16 percentage points compared to the previous year[4] - The company reported non-recurring gains and losses totaling ¥4,366,162.43 after tax[5] - Total operating costs for Q1 2022 were CNY 58,338,725.76, up from CNY 51,661,796.08 in Q1 2021, reflecting a year-over-year increase of 12.9%[17] - The company experienced a significant increase in prepayments, which rose by 180.51% due to increased advance payments to suppliers[7]

Financial Performance - The company achieved operating revenue of RMB 316.62 million in 2021, representing a year-on-year increase of 14%[20]. - Net profit attributable to shareholders reached RMB 66.40 million, up 20.13% compared to the previous year[20]. - The company reported a total revenue of 4,301.33 million RMB, with a gross profit of 1,810.10 million RMB and a net profit of 2,402.05 million RMB for the year[102]. - The company reported a revenue of 1.5 billion yuan for the fiscal year 2021, representing a year-over-year growth of 20%[184]. - The gross margin improved to 35%, up from 30% in the previous year, reflecting better cost management and pricing strategies[184]. Research and Development - Research and development expenses accounted for 5.72% of operating revenue, an increase of 0.36 percentage points from the previous year[21]. - R&D investment reached 18.101 million yuan, a year-on-year increase of 21.56%[31]. - The company increased its R&D personnel from 51 to 61, representing 18.37% of the total workforce, up from 12.94% in the previous year[105]. - Total R&D expenses amounted to 1,115.74 million RMB, with an average salary of 18.29 million RMB per R&D employee, compared to 15.16 million RMB previously[105]. - The company has developed 10 core technologies, including ePTFE membrane manufacturing and modification technologies, leading to stable production and sales of high-tech products[94]. Market Position and Strategy - The company operates in a niche market characterized by high technical barriers and high gross margins[12]. - The company is focusing on expanding its market presence in the new energy vehicle sector, leveraging its advanced material technologies to capture a larger share of this growing market[100]. - The company plans to continue investing in R&D, but faces risks related to the uncertainty of new product development outcomes[112]. - The company aims to customize products based on specific customer requirements, enhancing its competitive edge in the market[100]. - The company is expanding its market presence in Southeast Asia, targeting a 25% increase in sales in that region[186]. Acquisitions and Investments - The company acquired 60% of Dayin Xisheng's equity in cash, expanding its aerogel business into the military sector[34]. - The company acquired 60% of Shanghai Dayin Xisheng New Materials Co., Ltd. for an investment of 156 million yuan, enhancing its market position in new materials[153]. - The company plans to acquire 60% equity of Shanghai Dayin Xisheng New Materials Co., Ltd. as part of its strategic expansion[194]. - The company has established partnerships with external research institutions, such as Zhejiang University and Changzhou University, to enhance its R&D capabilities[109]. - The company completed a strategic acquisition of a local competitor, enhancing its production capacity by 40%[186]. Operational Efficiency - The company primarily adopts a self-production model, with production plans based on customer orders and existing material inventory, ensuring efficient production scheduling[56]. - The company has established a strict supplier selection and rating system, ensuring strong bargaining power due to large order volumes and a wide selection of suppliers[55]. - The company has implemented a comprehensive information disclosure system to ensure timely and accurate communication with shareholders[172]. - The company emphasizes improving management efficiency and operating profit through cost awareness and innovative management techniques[163]. - The company has established a sound internal control system and governance structure, ensuring compliance with relevant laws and regulations[166]. Governance and Compliance - The company is committed to ensuring the authenticity, accuracy, and completeness of the annual report, with all board members present at the meeting[8]. - The company has established various committees under the board to provide professional opinions for decision-making[169]. - The board of directors consists of 9 members, including 3 independent directors, complying with legal requirements[169]. - The company has not encountered any significant issues regarding independence from its controlling shareholder[172]. - The company has a clear succession plan in place, with new appointments aimed at strengthening management capabilities[181]. Product Development and Innovation - The company focuses on the development of advanced materials such as ePTFE and aerogels, which have unique properties for various applications[12]. - The company has established a comprehensive ePTFE membrane technology system, enabling the production of customized composite materials to meet diverse customer needs[106]. - The company has taken the lead in drafting industry standards for ePTFE membranes, indicating its advanced technical capabilities in various applications[84]. - The company has developed high-performance flexible circuit boards for 5G/6G communication, with a revenue contribution of 599.21 million, positioning itself as a leader in this critical technology[100]. - The company is conducting research on aerogel insulation materials for electric vehicles, with a total investment of ¥1.5 million and achieving practical patent certification[99]. Risks and Challenges - The company faces various operational risks, which are detailed in the "Management Discussion and Analysis" section of the report[4]. - The company is exposed to risks from raw material price fluctuations, particularly those linked to the oil and chemical industries[117]. - The company has a high customer concentration risk, primarily serving major automotive manufacturers[116]. - The company’s total liabilities increased due to the use of RMB 84 million in bank loans for the acquisition[22]. - The company plans to implement a new marketing strategy that is expected to increase brand awareness by 20% in the next year[186].

Revenue and Profit - Revenue for Q3 2021 was CNY 68,309,867.14, a decrease of 9.05% compared to the same period last year[3]. - Net profit attributable to shareholders for Q3 2021 was CNY 9,450,477.48, down 39.60% year-on-year[3]. - The basic earnings per share for Q3 2021 was CNY 0.14, a decrease of 53.45% compared to the same period last year[3]. - Total operating revenue for Q3 2021 reached ¥210,863,015.22, an increase of 13.5% compared to ¥185,225,318.66 in Q3 2020[22]. - Net profit for Q3 2021 was ¥43,318,884.04, representing a 30.0% increase from ¥33,317,002.90 in Q3 2020[23]. - The total comprehensive income attributable to the parent company for Q3 2021 was ¥43,422,551.05, compared to ¥33,317,002.90 in Q3 2020, representing a year-over-year increase of approximately 30.4%[24]. Assets and Liabilities - Total assets increased by 34.10% to CNY 824,560,021.66, attributed to the acquisition of 60% equity in Shanghai Dayin Xisheng New Materials Co., Ltd.[4][7]. - The company's total assets as of Q3 2021 amounted to ¥824,560,021.66, compared to ¥614,863,231.70 in the same period last year, reflecting a growth of 34.0%[18]. - Total liabilities increased to ¥230,996,033.00 in Q3 2021, up from ¥60,063,057.29 in Q3 2020, indicating a significant rise[18]. - The company’s total liabilities as of September 30, 2021, are not specified but are critical for assessing financial health[16]. Cash Flow - Cash flow from operating activities for the year-to-date period was CNY 51,857,020.21, up 95.61% year-on-year[3][7]. - The net cash flow from operating activities for the first three quarters of 2021 was ¥51,857,020.21, up from ¥26,509,818.27 in the same period of 2020, indicating a growth of about 95.5%[25]. - Cash inflow from operating activities totaled ¥196,209,365.28 for the first nine months of 2021, compared to ¥140,176,569.77 in 2020, reflecting an increase of approximately 40%[25]. - The company reported a net cash outflow from investing activities of ¥174,511,187.56 for the first three quarters of 2021, compared to a net outflow of ¥23,617,231.95 in the same period of 2020[25]. - The cash and cash equivalents at the end of Q3 2021 stood at ¥98,303,413.90, a significant increase from ¥9,787,120.17 at the end of Q3 2020[25]. - The company raised ¥183,000,000.00 through borrowings in Q3 2021, compared to ¥80,000,000.00 in Q3 2020, indicating a growth of 128.8% in financing activities[25]. - The net cash flow from financing activities for Q3 2021 was ¥97,045,302.78, a significant improvement from a net outflow of ¥7,825,350.11 in Q3 2020[25]. Research and Development - R&D investment totaled CNY 4,465,663.87, an increase of 25.56% compared to the same period last year, representing 6.54% of revenue[4]. - Research and development expenses for Q3 2021 were ¥11,868,615.56, compared to ¥10,046,511.41 in Q3 2020, showing an increase of 18.1%[22]. - The company developed a new high-performance aerospace cable insulation material, which has passed the certification by Jiangsu Provincial Department of Industry and Information Technology, filling a domestic gap in the market[12]. - The company aims to replace imported materials with domestically produced high-performance aerospace cable insulation materials, enhancing local manufacturing capabilities[12]. - The company’s strategic acquisition and product development initiatives are expected to drive future growth in the aerospace and new materials sectors[13]. Inventory and Receivables - The company’s inventory increased to RMB 66,073,413.50 from RMB 43,518,711.33, reflecting a rise of approximately 51.8%[16]. - Accounts receivable decreased to RMB 87,545,861.47 from RMB 107,796,485.83, showing a decline of about 18.7%[16]. - The company’s prepayments rose to RMB 4,510,428.18 from RMB 2,348,246.68, marking an increase of approximately 92.0%[16]. Management Expenses - Management expenses increased significantly due to higher financial advisory fees and employee welfare costs[7].

Financial Performance - The company's operating revenue for the first half of 2021 was RMB 142,553,148.08, representing a year-on-year increase of 29.45% compared to RMB 110,120,088.67 in the same period last year[18]. - The net profit attributable to shareholders of the listed company reached RMB 33,972,073.57, a significant increase of 92.26% from RMB 17,669,494.47 in the previous year[18]. - The net cash flow from operating activities increased by 72.22% to RMB 31,900,748.37, driven by sales growth and improved accounts receivable collection[20]. - The basic earnings per share rose to RMB 0.49, up 44.12% from RMB 0.34 in the same period last year[19]. - The company's total assets increased by 6.59% to RMB 655,393,259.85 compared to RMB 614,863,231.70 at the end of the previous year[18]. - The company reported a weighted average return on net assets of 6.07%, a slight decrease of 0.22 percentage points from 6.29% in the previous year[19]. - The net profit growth was attributed to continuous technological innovation, increased R&D investment, and the successful sales of core technology products such as ePTFE microvent products and CMD[19]. - The company reported a non-recurring profit of 4,559,157.41 RMB, primarily from government subsidies and other non-operating income[22]. - The company reported a non-recurring loss of 33,970.95 RMB from other operating income and a tax impact of -804,634.29 RMB[22]. - The company achieved total revenue of 142.55 million yuan, an increase of 29.45% compared to the same period last year[52]. - The net profit attributable to shareholders was 33.97 million yuan, up 92.26% year-on-year, while the net profit after deducting non-recurring gains and losses was 29.41 million yuan, an increase of 67.96%[52]. Research and Development - Research and development expenses accounted for 5.19% of operating revenue, a decrease of 0.7 percentage points from the previous year[19]. - Total R&D investment reached ¥7,402,951.69, an increase of 14.07% compared to the previous period, while the proportion of R&D investment to operating income decreased to 5.19% from 5.89%[38]. - The company has a total of 188 patents, including 37 invention patents, 145 utility model patents, and 2 design patents as of the end of the reporting period[36]. - The company applied for 15 new patents during the reporting period, including 8 invention patents[37]. - The company is currently developing a composite material technology for electric vehicle thermal insulation pads, with a total investment of ¥550,000 and ¥214,490 invested in the current period[41]. - The company has achieved significant progress in the development of ePTFE low-resistance membrane materials, with a total investment of ¥1,500,000 and ¥200,360 invested in the current period[41]. - The company is also researching high-performance CCL materials for 5G communication, with a total investment of ¥2,500,000 and ¥325,450 invested in the current period[41]. - The company has developed high-performance drying agents with a moisture absorption capacity of up to 200% of their own weight, addressing issues related to the main material of magnesium chloride[40]. - The company continues to focus on new materials and applications, aiming for import substitution in the niche market[40]. - The company has made advancements in the manufacturing technology of ePTFE membranes, enhancing their properties for various applications[40]. - The company has established collaborations with Zhejiang University for the development of SiO2 aerogel materials, achieving low thermal conductivity below 0.017 W/(m·K)[40]. Product Development and Market Expansion - The company specializes in high-performance composite materials, focusing on ePTFE membranes and SiO2 aerogels, with applications in automotive, consumer electronics, and new energy sectors[24]. - The ePTFE micro-permeable products have achieved import substitution and established stable partnerships with well-known domestic and international automotive lighting manufacturers[25]. - The company has developed a pressure relief valve for new energy vehicle battery packs, which is crucial for ensuring safety during battery operation[26]. - The CMD product addresses condensation issues in confined spaces and has potential applications in various industries, including automotive and 5G outdoor base stations[29]. - The company possesses 10 core technologies, enabling it to produce customized ePTFE membranes and components, significantly broadening its application fields[34]. - The company is expanding its product offerings to include applications in medical health, aerospace, and power communication sectors[24]. - The company’s sealing products, including seals and damping pads, are widely used in the automotive and home appliance industries[32]. - New products such as MEMS acoustic film and TRT cable film have been launched, expanding the product line to meet diverse customer needs[56]. - The company has established partnerships with several high-quality clients, achieving significant results in market expansion for core technology products[57]. Financial Position and Liabilities - The company's total liabilities included a significant increase in short-term borrowings, which rose to ¥49,047,590.28 from ¥500,427.78 in the previous year[79]. - The company’s total liabilities amounted to ¥101,621,011.87, compared to ¥60,063,057.29, reflecting an increase of about 69.2%[131]. - The total equity attributable to shareholders decreased slightly to ¥553,772,247.98 from ¥554,800,174.41, a decline of approximately 0.2%[131]. - The company reported a significant increase in accounts receivable, with figures rising to ¥85,626,487.16 from ¥107,483,183.94, a decrease of approximately 20.3%[132]. - The company’s cash and cash equivalents increased to ¥149,728,987.84, representing 22.85% of total assets, up from 20.17% in the previous year[79]. - The company’s accounts receivable decreased by 20.06% to ¥86,174,906.27 from ¥107,796,485.83 in the previous year[79]. - The company reported a total of ¥12,000,000.00 in trading financial assets as of June 30, 2021, which was not present in the previous year's report[129]. Corporate Governance and Compliance - The company did not propose any profit distribution plan or capital reserve transfer to increase share capital during this reporting period[6]. - The company has established environmental protection facilities that are operating normally, with no significant pollution incidents reported[94]. - The company has implemented measures to manage waste, including the treatment of wastewater and the handling of solid waste[91][92]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[95]. - The company has not initiated any employee stock ownership plans or other incentive measures during this period[88]. - There were no significant lawsuits or arbitration matters during the reporting period[106]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[105]. - There were no major related party transactions reported during the period[106]. - The company has not faced any violations or penalties involving its directors, supervisors, or senior management[106]. - The company has committed to avoiding competition with its controlled enterprises in product and business expansion[104]. - The company has not disclosed any related party transactions that have progressed or changed after being announced[107]. - The company has not engaged in any refinancing or equity incentive commitments during the reporting period[104]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 3,125[119]. - Zhang Yun holds 19,511,467 shares, representing 27.87% of the total shares[121]. - Jiangsu Southern Bearing Co., Ltd. holds 9,000,030 shares, accounting for 12.86% of the total shares[121]. - Changzhou Saifu High-tech Venture Capital Center holds 8,094,724 shares, which is 11.56% of the total shares[121]. - The total number of restricted shares at the beginning of the period was 55,617,360, with 726,560 shares released during the period[118]. - The total number of restricted shares at the end of the period is 54,890,800[118]. - The largest shareholder, Zhang Yun, has no pledged or frozen shares[121]. - The company has a total of 54,890,800 restricted shares remaining after the reporting period[118]. Future Outlook - The company remains optimistic about its business prospects and plans to hold its shares long-term[102]. - The company intends to reduce its holdings of shares within 24 months after the lock-up period, with a selling price not lower than the initial offering price[102]. - The company will avoid related party transactions with its controlling subsidiaries as much as possible[102]. - The company guarantees that it will not use related party transactions to illegally transfer funds or profits[102]. - The company will ensure that the prices of related party transactions are fair and comparable to those with independent third parties[102]. - The company will adhere to the regulations regarding share reduction and information disclosure[102]. - The company emphasizes the importance of maintaining clear controlling shareholders and actual controllers after the lock-up period[102]. Accounting and Financial Reporting - The financial statements are prepared based on the assumption of going concern, with no significant doubts about the company's ability to continue operations for the next 12 months[167]. - The company adheres to the accounting standards for enterprises, ensuring that its financial reports accurately reflect its financial position and operating results[170]. - The company has a short operating cycle, using 12 months as the standard for classifying the liquidity of assets and liabilities[172]. - The company’s accounting records are maintained in Renminbi (CNY) as its functional currency[173]. - Financial assets are classified into three categories upon initial recognition: (1) measured at amortized cost; (2) measured at fair value with changes recognized in other comprehensive income; (3) measured at fair value with changes recognized in profit or loss[179]. - Financial liabilities are classified into four categories upon initial recognition: (1) measured at fair value with changes recognized in profit or loss; (2) financial liabilities arising from the transfer of financial assets that do not meet derecognition criteria; (3) financial guarantee contracts and loan commitments at below market interest rates; (4) measured at amortized cost[180].

Financial Performance - Net profit attributable to shareholders increased by 166.49% to CNY 16,075,966.83 year-on-year[7] - Operating revenue rose by 62.15% to CNY 68,699,005.74 compared to the same period last year[7] - Basic earnings per share increased by 109.09% to CNY 0.23[7] - The company reported a net profit of CNY 17,037,209.66 for Q1 2021, reflecting a substantial increase from the previous year[27] - The net profit for Q1 2021 reached CNY 16,075,966.83, representing a significant increase of 166.5% from CNY 6,032,392.92 in Q1 2020[31] - The total profit for Q1 2021 was CNY 18,519,056.48, compared to CNY 6,349,889.06 in Q1 2020, marking an increase of 192.1%[31] - The company's operating profit for Q1 2021 was CNY 18,539,133.26, a substantial rise from CNY 6,456,362.64 in the same period last year, reflecting an increase of 187.5%[31] - The total comprehensive income for Q1 2021 was CNY 16,075,966.83, compared to CNY 6,032,392.92 in Q1 2020, reflecting an increase of 166.5%[32] Revenue and Costs - Revenue for the current period reached ¥68,699,005.74, a 62.15% increase compared to ¥42,367,460.22 in the same period last year, primarily due to increased sales of core technology products[14] - Operating costs amounted to ¥33,819,506.47, reflecting a 59.59% increase from ¥21,191,549.55, corresponding to the rise in revenue[14] - Total operating revenue for Q1 2021 was CNY 68,699,005.74, an increase of 62.0% compared to CNY 42,367,460.22 in Q1 2020[27] - Total operating costs for Q1 2021 were CNY 51,661,796.08, up 46.4% from CNY 35,292,119.67 in Q1 2020[27] - Gross profit for Q1 2021 was CNY 17,037,209.66, representing a gross margin of approximately 24.8%[27] Research and Development - Research and development expenses accounted for 6.18% of operating revenue, up from 5.77%[7] - Research and development expenses increased by 73.64% to ¥4,244,417.16 from ¥2,444,311.50, indicating a significant investment in R&D[14] - R&D expenses increased to CNY 4,244,417.16 in Q1 2021, compared to CNY 2,444,311.50 in Q1 2020, reflecting a growth of 73.5%[27] - Research and development expenses for Q1 2021 were CNY 4,244,417.16, up from CNY 2,444,311.50 in Q1 2020, showing a growth of 73.5%[31] Cash Flow and Financial Position - The net cash flow from operating activities increased by 34.34% to CNY 17,963,591.29[7] - Cash inflow from operating activities in Q1 2021 was CNY 64,819,484.84, compared to CNY 54,649,629.12 in Q1 2020, indicating an increase of 18.5%[34] - Net cash flow from operating activities for Q1 2021 was CNY 22,819,834.03, an increase of 67.3% compared to CNY 13,628,590.44 in Q1 2020[36] - Total cash inflow from operating activities was CNY 68,396,078.99, an increase of 25.4% from CNY 54,460,704.45 in Q1 2020[36] - Cash and cash equivalents increased to CNY 155,035,790.93 as of March 31, 2021, compared to CNY 118,928,082.40 at the end of 2020[24] - The ending balance of cash and cash equivalents reached CNY 155,035,790.93, up from CNY 8,284,774.36 at the end of Q1 2020[37] Shareholder Information - The number of shareholders reached 3,269 at the end of the reporting period[11] - The top shareholder, Zhang Yun, holds 27.87% of the shares, totaling 19,511,467 shares[11] Assets and Liabilities - Total assets increased by 9.35% to CNY 672,373,088.76 compared to the end of the previous year[7] - Total assets as of March 31, 2021, amounted to CNY 679,143,630.90, an increase from CNY 616,237,204.31 at the end of 2020[25] - Total liabilities as of March 31, 2021, were CNY 106,690,562.38, compared to CNY 59,760,965.82 at the end of 2020, indicating a significant increase[25] - Shareholders' equity totaled CNY 572,453,068.52 as of March 31, 2021, up from CNY 556,476,238.49 at the end of 2020[26] Investment Activities - The company signed a framework agreement to acquire 60% of Shanghai Dayin Xisheng New Materials Co., Ltd., with ongoing due diligence and asset evaluation[18] - Cash management activities included the use of idle funds for wealth management, with a maximum of ¥90 million approved for investment[16] - Total cash inflow from investment activities was CNY 245,934,468.74, significantly higher than CNY 64,600.00 in the same period last year[36] - Cash outflow from investment activities totaled CNY 280,565,998.70, compared to CNY 15,893,947.36 in Q1 2020, resulting in a net cash flow from investment activities of -CNY 34,631,529.96[36] Financing Activities - Short-term borrowings rose dramatically by 9702.18% to ¥49,052,830.78 from ¥500,427.78, indicating a significant increase in bank loans[15] - Cash inflow from financing activities was CNY 98,000,000.00, up from CNY 15,000,000.00 in Q1 2020[36] - Net cash flow from financing activities was CNY 48,028,549.77, a significant improvement from -CNY 3,735,809.92 in the previous year[37] - The company reported a cash outflow of CNY 49,971,450.23 for financing activities, compared to CNY 18,735,809.92 in Q1 2020[37]

Financial Performance - The basic earnings per share for 2020 was CNY 1.00, representing a 20.48% increase compared to CNY 0.83 in 2019[19] - The diluted earnings per share for 2020 was also CNY 1.00, reflecting the same 20.48% growth from the previous year[19] - The basic earnings per share after deducting non-recurring gains and losses was CNY 0.97, up 16.87% from CNY 0.83 in 2019[19] - Net profit attributable to shareholders was CNY 55,271,336.92, an increase of 26.37% compared to the previous year[21] - Operating revenue for 2020 was CNY 277,734,747.28, representing a year-on-year growth of 13.23%[21] - Operating profit reached 64.07 million yuan, reflecting a year-on-year growth of 26.14%[84] - The company achieved operating revenue of 277.73 million yuan, a year-on-year increase of 13.23%[101] - Net profit attributable to shareholders was 55.27 million yuan, marking a 26.37% increase year-on-year[101] Assets and Liabilities - Total assets increased by 44.66% compared to the beginning of the period, primarily due to the company's initial public offering, which led to an increase in cash funds[20] - By the end of 2020, net assets attributable to shareholders reached CNY 554,800,174.41, up 96.77% from the previous year[21] - Total assets increased by 44.66% to ¥614,863,231.70 from ¥425,051,304.49[188] - Total liabilities decreased by 58.03% to ¥60,063,057.29 from ¥143,102,729.96[188] - The asset-liability ratio improved to 9.77% from 33.67%, a reduction of 23.90%[188] Research and Development - Research and development expenses accounted for 5.36% of operating revenue, a decrease of 0.54 percentage points from 5.90% in 2019[19] - R&D investment totaled approximately ¥14.89 million, representing a 2.88% increase from the previous year, with R&D expenses accounting for 5.36% of total revenue[71] - The company has developed 10 core technologies, including precision die-cutting and specialized automation equipment, enhancing product quality and production efficiency[66] - The company has established a joint research center with Zhejiang University to tackle the mass production technology of SiO2 aerogel, enhancing its research capabilities[44] - The company has achieved a total of 264 intellectual property applications, with 186 granted, including 7 new invention patents and 5 granted during the reporting period[69] Market and Product Development - The company’s ePTFE micro-porous materials are applied in various industries, including automotive, consumer electronics, and new energy, with plans to expand into healthcare, aerospace, and power communication sectors[27] - The company is actively expanding into the consumer electronics market with its waterproof sound-permeable membrane products, which have already reached advanced industry levels and are used by brands like Xiaomi and Huawei[55] - The company is focusing on expanding its market presence in the fields of new energy power batteries and coaxial cables, aiming for advanced technology levels in these sectors[68] - The potential market space for ePTFE membrane products in the automotive and consumer electronics sectors exceeds ¥5 billion, indicating significant growth opportunities[126] Corporate Governance and Shareholder Relations - The company has established a comprehensive corporate governance structure and improved its internal control system to protect the rights of shareholders and creditors[168] - The company has implemented a cash dividend policy to reward shareholders and investors[168] - The company maintains a profit distribution policy that ensures at least 10% of the distributable profit is allocated as cash dividends in the first three years post-IPO[139] - The company’s profit distribution policy aims for continuity and stability, balancing shareholder returns with sustainable development[138] - The company has a structured communication process with shareholders, especially minority shareholders, to gather feedback on profit distribution proposals[145] Audit and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm[4] - The company has appointed Tianjian Accounting Firm as the auditor for the 2020 fiscal year, with a remuneration of CNY 1,000,000[153] - The company has not reported any significant environmental pollution incidents during the reporting period, with all environmental protection measures functioning effectively[176] - The company has not made any changes to its accounting policies or estimates during the reporting period[152] Investment and Fund Utilization - The total amount of raised funds is RMB 284.90 million, with RMB 165.42 million invested in the current year[164] - The cumulative amount of raised funds invested to date is RMB 165.42 million, which is 53.41% of the committed investment for the high-durability water pressure sound-permeable ePTFE project[164] - The company has utilized RMB 6 million and RMB 40 million of temporarily idle raised funds to purchase wealth management products from Industrial and Commercial Bank of China and CITIC Securities, respectively[166] Employee and Community Engagement - The company has created a good working environment for employees, ensuring fair compensation and promoting a culture of respect and inclusivity[169] - The company actively supports local economic development and has been a major taxpayer in the region, providing numerous job opportunities[173]