Financial Performance - The company reported a total revenue of 1.5 billion RMB for the fiscal year 2022, representing a year-over-year growth of 20%[74]. - The company’s net profit for 2022 was reported at 300 million RMB, reflecting a 30% increase compared to 2021[74]. - The company's basic earnings per share for 2022 was CNY 2.12, a decrease of 10.92% compared to CNY 2.38 in 2021[90]. - The weighted average return on equity for 2022 was 12.10%, down by 5.78 percentage points from 17.88% in 2021[90]. - The net profit attributable to shareholders decreased by 5.36% to ¥520,504,370.05 from ¥549,959,098.02 in the previous year[127]. - The net cash flow from operating activities was negative at -¥537,601,633.11, a decrease of 268.70% compared to ¥318,670,380.58 in 2021[128]. - The company's net assets increased by 102.92% to ¥7,286,287,476.45 at the end of 2022, up from ¥3,590,662,429.33 at the end of 2021[128]. - The total operating income for Q4 2022 was ¥1,359,655,926.79, showing a slight increase compared to ¥1,347,027,522.87 in Q3 2022[138]. Dividend and Capital Structure - The company plans to distribute a cash dividend of 5.5 RMB per 10 shares, totaling approximately 167.45 million RMB, which accounts for 32.17% of the net profit attributable to shareholders for 2022[10]. - The company intends to increase its total share capital by 121.78 million shares through a capital reserve transfer, raising the total share capital to approximately 426.24 million shares[10]. - The company has initiated a share buyback program worth 100 million RMB to enhance shareholder value[74]. - The company raised a total of RMB 3.407 billion through the issuance of 70,257,493 new shares, with a par value of RMB 1.00 per share[99]. - As of the latest report, the total number of shares outstanding is 304,455,734, with 72.96% being unrestricted circulating shares[98]. Market and Competitive Landscape - The demand for lithium-ion battery copper foil is rapidly increasing due to the growth of the electric vehicle and energy storage sectors, with significant implications for the company's profitability[5]. - The company is exposed to risks from market competition, as new entrants and existing players expand their production capacity in the lithium battery copper foil market[5]. - The company faces risks related to customer concentration, as its main clients are well-known lithium-ion battery manufacturers[85]. - The company’s lithium battery copper foil market share ranks among the top in China, with a focus on high-end products like the 4.5μm ultra-thin copper foil[146]. - The company is positioned to leverage advancements in technology and market expansion opportunities in the lithium battery sector[199]. Research and Development - Research and development expenditures are classified into research and development phases, with research phase costs expensed as incurred[25]. - Research and development expenses increased by 25% year-over-year, totaling 200 million RMB, focusing on new product innovations in electronic copper foil technology[74]. - The company has a stable R&D team with strong professional capabilities, which is crucial for maintaining its competitive advantage in core technologies[82]. - The company applied for 82 technology patents during the reporting period, including 66 invention patents, and was recognized as a national intellectual property demonstration enterprise[149]. - The company is actively developing new copper foil products, including high tensile strength ultra-thin double-sided electrolytic copper foil, with nine new products in the pipeline[149]. Production Capacity and Projects - The company has multiple copper foil production projects under construction, which will increase capacity but may lead to overcapacity if market demand shifts[8]. - The company is expanding its copper foil production capacity to over 50,000 tons annually, with significant projects underway in Jiangxi and Ningde[146]. - The company plans to continue expanding its production capacity and increasing inventory of raw materials to support sales growth[129]. - The "Annual Production of 15,000 Tons of High-Performance Copper Foil Project (Ningde)" had a total investment of 1.2 billion yuan, with actual expenses of 480.82 million yuan, indicating a completion rate of 50.09%[181]. Risk Management - The company acknowledges the risk of declining gross margins due to potential increases in sales prices and raw material costs amid intensified market competition[8]. - The company faces a risk of declining gross margins due to potential adverse changes in product pricing and raw material costs amid increasing market competition and policy adjustments[92]. - The company has implemented a production model based on sales forecasts to mitigate the risks associated with copper price fluctuations[92]. - The company emphasizes the importance of technological innovation and market expansion to mitigate risks associated with product concentration and market competition[5]. Quality Management - The company emphasizes product quality and safety, implementing strict quality management and risk control systems[85]. - The company won the Guangdong Provincial Government Quality Award, highlighting its competitive edge in quality management[146]. - The company implemented a new quality management model, enhancing product quality and customer satisfaction while reducing costs and emissions[146]. Financial Management and Investments - The company has a total of RMB 2.17 billion in bank wealth management products, with an outstanding balance of RMB 324 million[117]. - The company has invested RMB 1.71 billion in bank wealth management products using raised funds, with an outstanding balance of RMB 200 million[117]. - The company has provided guarantees totaling RMB 1.66 billion to subsidiaries during the reporting period[114]. - The company reported interest income from idle working capital and funds raised during the project implementation period, contributing to overall financial performance[175].

Financial Performance - The company's operating revenue for Q3 2022 reached ¥1,347,027,522.87, representing a year-on-year increase of 72.28%[9] - The net profit attributable to shareholders was ¥149,671,376.73, showing a slight decrease of 0.21% compared to the same period last year[9] - The net profit after deducting non-recurring gains and losses was ¥150,248,664.41, which increased by 11.71% year-on-year[9] - Total operating revenue for the first three quarters of 2022 reached ¥3,281,189,504.30, a significant increase from ¥1,987,242,146.61 in the same period of 2021, representing a growth of approximately 65.0%[46] - Net profit for the third quarter of 2022 was ¥437,409,497.49, up from ¥394,375,769.03 in the same quarter of 2021, reflecting a growth of approximately 10.9%[50] - Total comprehensive income attributable to the parent company reached ¥487,685,554.50, an increase from ¥394,224,868.08 in the previous year, reflecting a growth of approximately 23.7%[52] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥7,873,623,969.01, reflecting a growth of 29.92% compared to the end of the previous year[13] - The company's total assets reached ¥7,873,623,969.01 in 2022, up from ¥6,060,437,733.79 in 2021, indicating an increase of approximately 30.0%[46] - The total liabilities increased to ¥3,794,349,997.65 in 2022 from ¥2,451,678,420.26 in 2021, marking an increase of about 54.5%[46] - The company's total liabilities rose to ¥3,488,352,081.49, up from ¥2,358,639,044.03, which is an increase of approximately 47.9%[62] - The company's total equity attributable to shareholders increased to ¥3,961,456,815.04, up 10.33% from the previous year[13] - The company's equity totaled ¥3,985,604,561.16, up from ¥3,610,150,928.74, reflecting a growth of about 10.4%[62] Cash Flow - Cash flow from operating activities showed a net outflow of ¥274,002,393.11 for the year-to-date period[13] - Cash inflow from operating activities totaled ¥3,127,843,064.19, up from ¥2,115,311,722.76, indicating a growth of approximately 47.8%[52] - Cash outflow from operating activities amounted to ¥3,401,845,457.30, compared to ¥1,955,509,591.20 in the previous year, showing an increase of about 73.9%[55] - Net cash flow from operating activities was negative at ¥-274,002,393.11, a decline from a positive cash flow of ¥159,802,131.56 in the previous year[55] - Cash flow from investing activities was negative at ¥-948,127,388.64, improving from ¥-1,434,584,734.31 year-over-year[56] - Cash flow from financing activities generated a net inflow of ¥607,259,606.94, down from ¥1,673,676,229.29 in the previous year[57] Research and Development - The company's R&D investment totaled ¥15,566,595.81 in Q3 2022, a decrease of 58.13% year-on-year, with R&D expenses accounting for 1.16% of operating revenue[13] - Research and development expenses for the reporting period were -58.13 million, indicating a decrease in R&D investment compared to the same period last year[22] - Research and development expenses for the third quarter of 2022 amounted to ¥119,402,805.11, compared to ¥93,249,977.26 in the same quarter of 2021, representing a growth of about 28.0%[46] - Research and development expenses for the first three quarters of 2022 amounted to ¥119,402,805.11, up from ¥93,249,977.26 in the previous year, reflecting a growth of approximately 28.1%[62] Shareholder Information - The company’s total number of common shareholders at the end of the reporting period was 17,075, with the largest shareholder holding 27.04% of the shares[29] - Basic and diluted earnings per share increased to ¥1.87 from ¥1.71, representing a rise of about 9.4%[52]

Company Focus and Market Position - The company focuses on the research, production, and sales of high-performance electrolytic copper foil, with a significant portion of profits derived from lithium battery copper foil sales[6]. - The company primarily produces ultra-thin and extremely thin lithium battery copper foil, with major downstream customers being lithium-ion battery manufacturers[9]. - The company is at risk of losing its technological and market leadership if it fails to keep pace with new technology developments in the copper foil industry[4]. - The company emphasizes the importance of continuous technological innovation and process improvement to meet the increasing quality demands in the copper foil industry[4]. - The company is focused on expanding its product structure and market share in the lithium battery sector, which has a broad market outlook[76]. - The company is focusing on technological innovation, particularly in the development of ultra-thin copper foil products to meet the demands of the electric vehicle industry[93]. Financial Performance - The company reported a revenue of RMB 1.2 billion for the first half of 2022, representing a year-on-year increase of 25%[25]. - The gross profit margin improved to 30%, up from 28% in the same period last year[25]. - The company's operating revenue for the first half of the year reached ¥1,934,161,981.43, representing a 60.46% increase compared to ¥1,205,359,008.98 in the same period last year[35]. - Net profit attributable to shareholders was ¥288,017,848.64, up 17.92% from ¥244,244,171.75 year-on-year[35]. - The net profit after deducting non-recurring gains and losses was ¥279,929,084.59, reflecting a 21.47% increase from ¥230,456,577.75 in the previous year[35]. - The performance guidance for the second half of 2022 anticipates a revenue growth of 20%[25]. Research and Development - The company has a stable R&D team with strong professional capabilities, which is crucial for maintaining its competitive edge in the market[5]. - The company has allocated RMB 200 million for R&D in new technologies over the next two years[25]. - The total R&D investment amounted to ¥103,836,209.30, representing an 85.20% increase compared to ¥56,068,322.83 in the same period last year[74]. - R&D investment accounted for 5.37% of operating revenue, an increase of 0.72 percentage points from 4.65% in the previous year[74]. - The company applied for 55 technology patents during the reporting period, including 50 invention patents (5 international) and 5 utility model patents[70]. - The company has developed a new method for producing ultra-thin electrolytic copper foil, which enhances the performance of lithium-ion batteries[68]. Production Capacity and Expansion - The company is expanding its production capacity through multiple ongoing and planned projects, aiming to meet the growing demand in the new energy market[12]. - The company plans to expand its production capacity by 40% in the next year to meet growing demand[25]. - The company is expanding its production capacity with projects such as the annual production of 15,000 tons of high-performance copper foil and 30,000 tons of high-precision ultra-thin electronic copper foil, which are gradually being put into operation[90]. - The company has initiated a strategic partnership with Ningde Times to enhance supply chain efficiency[25]. Risks and Challenges - The company acknowledges the risk of declining gross margins due to potential increases in sales prices and raw material costs amid intensified market competition[11]. - The company is aware of the risks associated with a concentrated product structure and downstream application fields, which could significantly impact performance if market conditions change[9]. - The company faces risks related to the fluctuation of copper prices, which directly impacts production costs and product gross margins[107]. - The company faces intensified competition in the lithium battery copper foil market, with new entrants and expanded capacities from existing players[116]. - There is a risk of hydrogen fuel cells potentially replacing lithium-ion batteries, which could impact the company's market position if it fails to innovate[117]. Environmental Management - The company has established a systematic pollution management system to comply with environmental regulations, but faces risks related to potential environmental incidents[118]. - The company has implemented pollution discharge permits and has established wastewater treatment facilities that comply with local standards, ensuring that production wastewater is treated and reused[167]. - The company’s wastewater discharge meets the second-stage first-level standards of local pollution discharge limits, ensuring compliance with environmental regulations[169]. - The company has actively participated in clean production audits and received certification for clean production practices, valid until 2024[185]. Customer Relationships and Market Strategy - The company has established strong customer relationships, enhancing its market position and increasing its market share in the lithium battery copper foil sector[87]. - The company is committed to broadening its sales channels and enhancing product competitiveness to effectively absorb the new production capacity and improve operational performance[12]. - The company's top five customers accounted for 89.87% of total revenue during the reporting period, indicating a high customer concentration risk[102]. Human Resources and Management - The company has a stable management team with over 20 years of industry experience, enhancing its competitive advantage in technology innovation and market responsiveness[85]. - The number of R&D personnel increased to 227 from 159, with R&D personnel accounting for 10.99% of the total workforce[82]. - Average salary for R&D personnel rose to CNY 12.99 million from CNY 4.75 million, reflecting a significant increase in compensation[82]. Shareholder Commitments and Governance - The company has committed to a 36-month lock-up period for shares held by major shareholders, starting from the date of listing, with specific conditions for extension based on stock performance[194]. - Major shareholders are restricted to transferring no more than 25% of their shares annually after the lock-up period ends, and cannot transfer shares within 6 months of leaving their positions[194]. - The commitments made by major shareholders are to remain effective until they cease to be the controlling shareholders of the company[200].

Financial Performance - The company's operating revenue for 2021 reached approximately ¥2.80 billion, representing a 133.26% increase compared to ¥1.20 billion in 2020[40]. - Net profit attributable to shareholders for 2021 was approximately ¥549.96 million, a 195.02% increase from ¥186.41 million in 2020[40]. - The net profit after deducting non-recurring gains and losses for 2021 was approximately ¥497.21 million, reflecting a 203.54% increase from ¥163.80 million in 2020[40]. - The net cash flow from operating activities for 2021 was approximately ¥318.67 million, a significant increase of 249.68% compared to ¥91.13 million in 2020[40]. - As of the end of 2021, the total assets of the company were approximately ¥6.06 billion, a 106.04% increase from ¥2.94 billion at the end of 2020[40]. - The net assets attributable to shareholders at the end of 2021 were approximately ¥3.59 billion, marking a 37.53% increase from ¥2.61 billion at the end of 2020[40]. - The company achieved a basic earnings per share of 2.38 yuan, a 193.83% increase compared to the previous year[43]. - The company's operating revenue for 2021 was 2,804,179,482.94 yuan, representing a 133.26% year-on-year growth[52]. - The weighted average return on equity increased by 10.57 percentage points to 17.88%[43]. - The company reported a total R&D investment of ¥146,905,282.85, a 102.81% increase compared to ¥72,433,288.56 in the previous year[92]. Market Position and Strategy - The company primarily focuses on the production and sales of high-performance lithium battery copper foil, with a significant portion of its profits derived from this segment[7]. - The company has established stable cooperative relationships with major battery manufacturers, enhancing its market position in the lithium battery copper foil sector[52]. - The company plans to expand its market presence and invest in new product development to sustain growth in the coming years[40]. - The company is focusing on enhancing its technological capabilities and exploring potential mergers and acquisitions to strengthen its market position[40]. - Future performance guidance indicates continued revenue growth driven by increased demand in the industry[40]. - The company aims to leverage its R&D efforts to introduce innovative products that meet market needs[40]. - The company is positioned as a leading supplier in the domestic lithium battery copper foil market, benefiting from strong R&D capabilities and industry partnerships[186]. - The company aims to enhance its market share in ultra-thin lithium battery copper foil products while expanding its production capacity for new high-strength products[187]. Research and Development - The company has established a strong R&D team and maintains a leading position in technology innovation within the industry[5]. - The company emphasizes the need for continuous technological innovation to meet increasing quality and process requirements in the copper foil industry[5]. - The company applied for 79 technology patents during the reporting period, including 59 invention patents[52]. - The company has developed several core technologies, including manufacturing techniques for ultra-thin and extremely thin copper foil, which are critical for the production process[80]. - The company has made significant advancements in its proprietary technologies, including methods for producing ultra-thin electrolytic copper foil and copper foil cleaning techniques[89]. - The company is focusing on new product development in the lithium-ion battery sector, with several projects meeting their expected targets[99]. - The company will continue to increase R&D investment, focusing on the development of ultra-thin electrolytic copper foil for high-capacity power batteries and high-end digital 3C battery products[191]. Risks and Challenges - The company is facing risks related to the loss of core technical personnel, which could adversely affect product development and manufacturing capabilities[6]. - The company is exposed to risks from intensified market competition, particularly as new entrants and existing players expand their production capacity in the lithium battery copper foil market[12]. - The company’s products are primarily used in the electric vehicle and energy storage sectors, making it vulnerable to changes in industry policies and market demand[7]. - The company’s current production capacity expansion may lead to potential overcapacity if market demand shifts unfavorably[14]. - The company’s gross margin may decline due to fluctuations in product pricing and raw material costs amid increasing market competition[13]. - The company faces a risk of declining gross margins due to potential increases in raw material costs and intensified market competition[117]. - The company is exposed to macroeconomic risks that could impact demand in the lithium battery and printed circuit board industries[123]. - Environmental risks are present due to potential pollution from production processes, necessitating compliance with increasing environmental regulations[126]. Operational Efficiency - The company adopts a "sales-driven production" model, aligning production plans with customer orders to optimize operational efficiency[64]. - The company has established stable supply channels for raw materials like copper wire and sulfuric acid, ensuring a reliable procurement process[64]. - The company emphasizes risk management and compliance, enhancing internal control systems and governance structures during the reporting period[4]. - The company has implemented effective cost control measures by closely monitoring raw material prices and optimizing procurement strategies[108]. Customer and Supplier Relationships - The top five customers accounted for 83.99% of the company's total revenue, indicating a high customer concentration risk[112]. - The company established long-term cooperative relationships with major customers, mitigating risks associated with reliance on a few clients[150]. - The top five suppliers accounted for CNY 185,343.38 million, representing 88.11% of the total annual purchases, with the largest supplier, Fujian Shanghang Solar Copper Industry Co., Ltd., contributing CNY 73,855.08 million or 35.11%[154]. Corporate Governance - The company held 6 shareholder meetings during the reporting period, ensuring compliance with legal requirements and protecting shareholder rights[198]. - The board of directors operates independently and effectively, with specialized committees to support decision-making processes[198]. - The company maintains independence from its controlling shareholder, ensuring no interference in decision-making and operations[199]. - The company adheres to strict information disclosure practices, ensuring transparency and equal access to information for all shareholders[200].

Financial Performance - The company's operating revenue for 2021 was approximately ¥2.80 billion, representing a 133.26% increase compared to ¥1.20 billion in 2020[37]. - The net profit attributable to shareholders for 2021 was approximately ¥549.96 million, a 195.02% increase from ¥186.41 million in 2020[37]. - The net profit after deducting non-recurring gains and losses for 2021 was approximately ¥497.21 million, reflecting a 203.54% increase compared to ¥163.80 million in 2020[37]. - The net cash flow from operating activities for 2021 was approximately ¥318.67 million, up 249.68% from ¥91.13 million in 2020[37]. - The total assets at the end of 2021 were approximately ¥6.06 billion, a 106.04% increase from ¥2.94 billion at the end of 2020[37]. - The net assets attributable to shareholders at the end of 2021 were approximately ¥3.59 billion, a 37.53% increase from ¥2.61 billion at the end of 2020[37]. - The company achieved a basic earnings per share of CNY 2.38, a 193.83% increase compared to CNY 0.81 in the previous year[40]. - Revenue from copper foil business reached CNY 2,804,179,482.94, representing a 133.26% year-over-year growth[49]. - The company reported a main business revenue of CNY 2,804,179,482.94, representing a 133.26% increase compared to the previous year[129]. - The net profit attributable to shareholders reached CNY 549,959,098.02, marking a 195.02% increase year-over-year[129]. Market Position and Competition - The company is positioned as a leading supplier of lithium battery copper foil, benefiting from the rapid growth of the lithium-ion battery market driven by the booming electric vehicle industry[189]. - The company faces risks related to technological innovation, particularly in the copper foil industry, which requires continuous improvement to meet increasing quality and process demands[5]. - There is a significant risk of market competition intensifying, as existing lithium battery copper foil manufacturers are expanding capacity and new entrants are emerging in the market[12]. - The concentration of downstream applications in the lithium battery sector poses a risk if market competition increases or if new technologies emerge[11]. - The company has maintained stable cooperation with major battery manufacturers like CATL, enhancing its market position in lithium battery copper foil[49]. - The competitive landscape includes Nord Investment Co. and Guangdong Super Hua Technology Co., both of which have significant market shares and technological advancements in the lithium battery copper foil sector[69][70]. - The company faces risks from intensified competition in the lithium battery copper foil market due to increased capacity and investment from other industries[121]. Research and Development - The company has established a strong R&D team to enhance its independent innovation capabilities, positioning itself among the industry leaders[5]. - The company applied for 79 technology patents during the reporting period, including 59 invention patents and 20 utility model patents[49]. - The company has been recognized as a high-tech enterprise and has established partnerships with universities for research and development, enhancing its technological capabilities[72]. - The company achieved significant advancements in its core technology for ultra-thin electrolytic copper foil used in lithium-ion batteries, recognized with awards including the Guangdong Provincial Science and Technology Progress Award[86]. - The company has ongoing projects with a total expected investment of ¥25,000,000 for RD01, which has already received ¥28,215,417.22 in funding, aimed at new products and processes in the lithium-ion battery sector[93]. - The company is focusing on new product development in the lithium-ion battery sector, which has a high market demand[96]. - The company plans to increase R&D investment, particularly in ultra-thin electrolytic copper foil for high-capacity power batteries and high-end digital 3C battery products, ensuring product quality and cost competitiveness[194]. Production and Capacity Expansion - The company plans to accelerate the construction of new production capacity to capitalize on opportunities in the electric vehicle industry[49]. - The company successfully launched the "5000 tons/year high-performance copper foil technology transformation project" during the reporting period, achieving expected targets[55]. - The first production line of the "annual output of 15,000 tons high-performance copper foil project" successfully commenced trial production, enhancing overall capacity and efficiency[55]. - The company plans to continue expanding its production capacity to meet growing market demand[141]. - The company aims to enhance its production capacity for high-strength ultra-thin lithium battery copper foil, focusing on expanding market share and improving product performance[190]. Risk Management - The company emphasizes risk management and internal control, ensuring compliance with legal and regulatory requirements during the reporting period[52]. - The company acknowledges the risk of declining gross margins due to potential adverse changes in product pricing and raw material costs[13]. - The company faces risks related to the fluctuation of copper prices, which directly impacts production costs and profit margins[116]. - The company has a risk of declining gross margins due to potential increases in raw material costs or intensified market competition[116]. - The company is exposed to seasonal fluctuations in revenue due to the nature of its customer base and the industries it serves[114]. Customer Relationships - The top five customers accounted for 83.99% of the company's total revenue during the reporting period, indicating a high customer concentration risk[111]. - The company has established long-term partnerships with key clients, achieving high customer recognition for its products and services in the lithium battery sector[71]. - The company has established long-term cooperative relationships with major customers, reducing reliance on any single customer[150]. Strategic Initiatives - The company plans to expand its market presence and invest in new product development to drive future growth[39]. - The company has initiated plans for potential mergers and acquisitions to strengthen its market position[39]. - The company aims to maintain a sustainable growth trajectory through strategic investments and operational efficiencies[39]. - The company is actively managing raw material costs to maintain competitive pricing and optimize procurement strategies[106]. - The company intends to optimize procurement channels and improve supplier quality systems to enhance product quality and delivery times, aiming to reduce inventory and increase material turnover[197].

Financial Performance - The company's operating revenue for Q1 2022 was ¥962,686,450, representing an increase of 81.44% compared to the same period last year[6]. - The net profit attributable to shareholders was ¥174,021,952.25, reflecting a growth of 57.29% year-over-year[6]. - The net profit after deducting non-recurring gains and losses was ¥167,846,775.15, up by 58.35% from the previous year[6]. - The basic earnings per share for the period was ¥0.74, a rise of 54.17% compared to the same quarter last year[8]. - The weighted average return on equity increased by 0.58 percentage points to 4.73%[8]. - Net profit for Q1 2022 was ¥174,004,292, representing a 57% increase from ¥110,619,691 in Q1 2021[39]. - Operating profit for Q1 2022 was ¥201,059,051.49, up from ¥129,772,527.12 in Q1 2021, reflecting a growth of approximately 55%[57]. - Net profit for Q1 2022 was ¥171,579,269.43, compared to ¥110,212,685.90 in Q1 2021, representing a year-over-year increase of about 56%[57]. Research and Development - Research and development expenses totaled ¥50,471,587.02, which is an increase of 112.42% year-over-year, accounting for 5.24% of operating revenue[8]. - Research and development expenses increased to ¥50,471,587, up 112% from ¥23,760,075 in the previous year[36]. - Research and development expenses increased to ¥50,471,587.02 in Q1 2022, up from ¥23,760,075.92 in Q1 2021, indicating a growth of approximately 112%[57]. Assets and Liabilities - The total assets at the end of the reporting period were ¥6,027,302,711.01, a slight decrease of 0.55% from the end of the previous year[8]. - The total liabilities decreased from ¥2,358,639,044.03 in the previous year to ¥2,238,163,471.97 in the current year, a reduction of about 5%[53]. - The total liabilities decreased from 3.25 billion to 3.20 billion, indicating improved financial stability[27]. - The total current assets decreased to 3,024,897,592.41 from 3,352,301,834.64 year-over-year[51]. - The total assets increased to 6,036,367,352.37 from 5,968,789,972.77 year-over-year[51]. Cash Flow - The company reported a net cash flow from operating activities of ¥31,715,798.04, which is not applicable for year-over-year comparison[8]. - The net cash flow from operating activities was not applicable, mainly due to increased sales scale[19]. - Cash flow from operating activities was ¥880,184,552.75, compared to ¥538,875,181.71 in Q1 2021, indicating a growth of 63%[42]. - The net cash flow from operating activities was 31,715,798.04, a significant improvement compared to the previous year's loss of 64,111,736.66[46]. - The company reported a significant increase in cash inflow from investment activities, totaling ¥910,412,101.03 in Q1 2022, compared to ¥267,272,465.75 in Q1 2021[60]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 13,335[20]. - The largest shareholder, Guangdong Jiayuan Investment Industrial Development Co., Ltd., held 63,324,400 shares, accounting for 27.04%[20]. - The company's total equity rose to ¥3,799,237,288.08, compared to ¥3,608,759,313.53 in the previous year, marking an increase of about 5%[36]. - The equity attributable to shareholders increased by 5.31% to ¥3,781,158,063.81 compared to the end of the previous year[8]. Expenses - The company experienced a significant increase in sales expenses by 124.97%, primarily due to increased sales personnel costs and stock incentive effects[16]. - The company's total costs for Q1 2022 were ¥763,401,565.61, up from ¥402,433,311.55 in Q1 2021, representing an increase of 90%[36]. - The company’s financial expenses rose to ¥9,826,820.21 in Q1 2022, compared to ¥4,225,311.50 in Q1 2021, marking an increase of approximately 132%[57].

Financial Performance - The company's operating revenue for 2021 reached approximately ¥2.80 billion, representing a 133.26% increase compared to ¥1.20 billion in 2020[37]. - The net profit attributable to shareholders for 2021 was approximately ¥549.96 million, a 195.02% increase from ¥186.41 million in 2020[37]. - The net profit after deducting non-recurring gains and losses for 2021 was approximately ¥497.21 million, reflecting a 203.54% increase from ¥163.80 million in 2020[37]. - The net cash flow from operating activities for 2021 was approximately ¥318.67 million, up 249.68% from ¥91.13 million in 2020[37]. - The total assets at the end of 2021 amounted to approximately ¥6.06 billion, a 106.04% increase from ¥2.94 billion at the end of 2020[37]. - The net assets attributable to shareholders at the end of 2021 were approximately ¥3.59 billion, a 37.53% increase from ¥2.61 billion at the end of 2020[37]. - The company achieved a basic earnings per share of 2.38 CNY, a 193.83% increase compared to the previous year[40]. - Revenue from copper foil business reached 2,804,179,482.94 CNY, representing a 133.26% year-on-year growth[50]. - The company reported a significant increase in sales and management expenses due to expanded operations and increased personnel costs[132]. - The company achieved a total revenue of approximately RMB 146.91 million, which is 90% of the expected target of RMB 163 million[97]. Market Position and Strategy - The company plans to expand its market presence and invest in new product development to drive future growth[37]. - The company is focusing on enhancing its technological capabilities and exploring potential mergers and acquisitions to strengthen its competitive position[37]. - The company aims to maintain a sustainable growth trajectory while ensuring operational efficiency and profitability[37]. - The company plans to continue expanding its market presence and product offerings in response to growing demand in the lithium battery sector[141]. - The company aims to enhance its production capacity for high-strength ultra-thin lithium battery copper foil, focusing on expanding market share and improving product performance[188]. - The company intends to optimize procurement channels and improve supplier quality systems to enhance product quality and delivery times, aiming to reduce inventory and improve material turnover[195]. Research and Development - The company applied for 79 technology patents during the reporting period, including 59 invention patents and 20 utility model patents[50]. - The company has established a robust mechanism for talent development and innovation to ensure effective organization and successful implementation of R&D efforts[6]. - The company is committed to R&D, focusing on product innovation, process stability, cost control, and quality improvement[61]. - R&D expenses increased by 102.81% year-on-year, totaling approximately ¥146.91 million, driven by investments in lithium battery copper foil and high-frequency circuit board products[90]. - The company has developed several core technologies, including manufacturing techniques for ultra-thin and ultra-thin copper foil, which are critical for its production processes[78]. - The company achieved expected goals in all ongoing R&D projects, indicating strong progress in technology development and market application[94]. Risks and Challenges - The company faces risks related to new product and technology development, particularly in the highly competitive copper foil industry, which requires continuous innovation to meet market demands[5]. - There is a significant risk of core technical personnel turnover, which could adversely affect the stability and sustainability of the company's operations[6]. - The concentration of downstream applications in the lithium battery sector poses a risk; any decline in sales due to increased competition or technological changes could significantly impact overall performance[11]. - The company acknowledges the risk of declining gross margins due to potential increases in sales prices and raw material costs amid heightened market competition[13]. - The company faces risks related to the fluctuation of copper prices, which directly impacts production costs and profit margins[117]. - The company has a high reliance on the lithium-ion battery industry, which is subject to market volatility and competitive pressures[120]. - The company reported a significant increase in other non-current assets to 314,658,902.41 RMB, which is 5.19% of total assets, reflecting a growth of 426.33%[158]. Customer and Supplier Relationships - The top five customers accounted for 83.99% of the company's total revenue, indicating a high customer concentration risk[112]. - The company has established long-term cooperative relationships with major customers, mitigating risks associated with reliance on a few clients[149]. - The top five suppliers accounted for a total procurement amount of 185,343.38 million RMB, representing 88.11% of the annual total procurement[151]. - Supplier one contributed 73,855.08 million RMB, which is 35.11% of the total procurement, with no related party transactions[151]. Corporate Governance - The company held 6 shareholder meetings during the reporting period, ensuring compliance with legal requirements and protecting shareholder rights[199]. - The board of directors operates independently and effectively, with specialized committees to support decision-making and oversight[199]. - The company maintains independence from its controlling shareholder, ensuring no interference in decision-making and operations[200]. - The company adheres to strict information disclosure practices, ensuring transparency and equal access to information for all shareholders[200].

2021 年第三季度报告 单位：元 币种：人民币 证券代码：688388 证券简称：嘉元科技 广东嘉元科技股份有限公司 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、准确性和完整性依法承担法律责任。 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 | --- | --- | --- | --- | --- | |------------------------------------------------|----------------|-----------------------------------------|------------------|--------------------------- ...

Technology and Innovation - The company has a strong R&D team and is positioned at the forefront of technology development in the copper foil industry, but faces risks related to new product and technology development due to increasing competition and quality demands [4]. - The company specializes in high-performance lithium battery copper foil, with a focus on producing ultra-thin copper foil (≤6μm) for lithium-ion batteries [41]. - The core technology for lithium battery copper foil production includes advanced manufacturing techniques, with a focus on ultra-thin and extremely thin electrolytic copper foil, which the company has been developing since 2001 [45]. - The company has achieved significant advancements in core technologies, including additive technology and cathode roller grinding technology, all developed in-house [46][48]. - The company applied for 44 technology patents during the reporting period, including 34 invention patents (4 international) and 10 utility model patents, and received 12 authorizations [54]. - The company has a total of 300 patent applications, with 220 granted, indicating a strong commitment to innovation and technology development [54]. - The company has established a research and development system focused on market demand, with a performance evaluation model emphasizing precise management and efficient collaboration [44]. - The company has established a stable management team with over 20 years of industry experience, enhancing its market responsiveness and innovation capabilities [64]. - The company has committed to enhancing its technological research and development capabilities by acquiring office space in Nanshan District, Shenzhen, to attract top talent and strengthen collaboration with industry partners [159]. Market and Financial Performance - The company's operating revenue for the first half of 2021 reached ¥1,205,359,008.98, representing a 197.33% increase compared to the same period last year [31]. - Net profit attributable to shareholders was ¥244,244,171.75, a significant increase of 323.98% year-over-year [31]. - The net profit after deducting non-recurring gains and losses was ¥230,456,577.75, reflecting a 469.74% increase compared to the previous year [31]. - The company's total assets increased by 63.96% to ¥4,822,714,340.47 compared to the end of the previous year [31]. - The net cash flow from operating activities was ¥186,702,661.61, a turnaround from a negative cash flow of ¥46,323,435.01 in the same period last year [31]. - Basic earnings per share rose to ¥1.06, up 324.00% from ¥0.25 in the previous year [31]. - The company's weighted average return on equity increased by 6.73 percentage points to 9.00% [31]. - The company achieved a sales revenue of approximately ¥1.205 billion in the first half of 2021, representing a 17% increase compared to the same period last year [67]. - The company reported a revenue of 15,942.64 million RMB from copper foil product sales during the reporting period, which is a small portion of the total sales in the same category [192]. Risks and Challenges - The copper foil market is becoming increasingly competitive, with new entrants and capacity expansions from existing players, which may lead to price fluctuations and affect profitability [11]. - The company is at risk of declining gross margins due to potential adverse changes in product pricing and raw material costs amid intensified market competition [12]. - The concentration of downstream applications in the lithium-ion battery sector poses a risk; any decline in sales due to competition or technological advancements could significantly impact overall performance [8]. - The company faces risks from intensified market competition as existing lithium copper foil manufacturers expand capacity and new entrants enter the market [77]. - There is a risk of declining gross margins due to potential adverse changes in product prices and raw material costs amid increasing market competition [78]. - The company is exposed to risks from raw material price fluctuations, particularly copper prices, which can impact both revenue and gross margins [86]. - The company is at risk of losing market position if it fails to keep pace with technological advancements, particularly if hydrogen fuel cell technology becomes a viable alternative to lithium-ion batteries [87]. - The company faces risks related to accounts receivable concentration, with the top five customers accounting for 73.15% of total receivables [93]. - The company has a high customer concentration risk, with the top five customers accounting for 82.90% of the company's total revenue [80]. Research and Development - Research and development expenses accounted for 4.65% of operating revenue, a decrease of 2.16 percentage points from the previous year [33]. - Research and development expenses rose to CNY 56,068,322.83, marking a 102.96% increase as the company intensified its R&D efforts [100]. - The number of R&D personnel increased to 159, representing 15.27% of the total workforce, up from 10.76% in the previous period [62]. - The average salary for R&D personnel is CNY 45,090.52, compared to CNY 43,760.40 in the previous period [62]. - The R&D projects include environmentally friendly wastewater treatment and improvements in existing production processes, highlighting a focus on sustainability [59]. - The company has 9 ongoing R&D projects, with a total expected investment of CNY 163 million, focusing primarily on lithium-ion battery applications [59]. Environmental and Social Responsibility - The company has established a systematic pollution management system to comply with environmental regulations, but faces potential risks from stricter future regulations [95]. - The company has established a wastewater treatment station, ensuring that production wastewater discharge meets the standards set by GB30484-2013, with CODcr at 30mg/L [136]. - The company has implemented pollution control measures, including a closed stirring device and an indoor air filtration system, ensuring that all emissions comply with relevant pollution discharge standards [136]. - The company is actively involved in poverty alleviation and rural revitalization efforts, including funding infrastructure projects and providing skills training for local residents [146]. - The company has not faced any environmental pollution incidents or administrative penalties during the reporting period [141]. - The company conducts monthly self-monitoring of environmental parameters and submits results to local environmental authorities [142]. Corporate Governance and Commitments - The company has committed to not transferring or entrusting the management of shares held prior to the IPO for 36 months from the listing date [151]. - The company guarantees that no shares will be transferred by the actual controller during their tenure as a director or senior management, with a maximum of 25% of shares allowed to be transferred annually after the lock-up period [151]. - The company has made commitments to avoid any business activities that may compete with its own operations, ensuring no direct or indirect investments in competing businesses [153]. - The company will comply with all relevant laws and regulations regarding the control of the company and will not use its controlling position to harm the interests of other shareholders [156]. - The company emphasizes its commitment to transparency and accountability in its operations and communications with investors [164]. - The company guarantees that its prospectus contains no false records, misleading statements, or significant omissions, and will bear legal responsibility for any such issues [164]. - The company will ensure that any buyback price is not lower than the issuance price plus applicable interest during the period from issuance to buyback [165]. - The company will take necessary measures to compensate investors for losses resulting from unfulfilled commitments, as required by law [160].

Financial Performance - Operating revenue surged by 259.30% to CNY 530,591,314.30 year-on-year[17] - Net profit attributable to shareholders increased by 366.44% to CNY 110,640,354.27 compared to the same period last year[17] - The net profit after deducting non-recurring gains and losses rose by 646.16% to CNY 105,995,161.67 year-on-year[17] - Basic earnings per share reached CNY 0.48, a 380.00% increase from CNY 0.1 in the previous year[17] - Total revenue for Q1 2021 reached ¥530,591,314.30, a significant increase from ¥147,674,107.71 in Q1 2020, representing a growth of approximately 259%[57] - Operating profit for Q1 2021 was ¥130,356,776.02, up from ¥29,019,160.89 in Q1 2020, indicating a growth of approximately 349%[57] - Net profit for Q1 2021 amounted to ¥130,246,232.30, compared to ¥28,019,160.89 in Q1 2020, showing an increase of around 365%[57] - The total comprehensive income for Q1 2021 was ¥110.21 million, compared to ¥23.56 million in Q1 2020, showing a growth of approximately 367%[65] Assets and Liabilities - Total assets increased by 54.51% to CNY 4,544,537,265.11 compared to the end of the previous year[17] - Current assets increased to ¥3,338,494,133.50 from ¥1,783,151,535.92, representing an increase of approximately 87.0% year-over-year[41] - Total liabilities increased significantly, with short-term borrowings rising by 241.59% to CNY 386,000,000.00 from CNY 113,000,000.00, reflecting increased bank loans[34] - Total liabilities amounted to ¥1,569,355,384.92, up from ¥310,562,697.60, indicating a growth of about 406.5%[47] - Shareholders' equity increased to ¥2,975,181,880.19 from ¥2,630,786,575.17, a rise of approximately 13.1%[47] Cash Flow - Cash flow from operating activities was negative at CNY -64,111,736.66, compared to CNY -4,407,190.07 in the previous year[17] - The company reported a significant increase in cash received from sales and services, totaling ¥538.88 million in Q1 2021, compared to ¥149.12 million in Q1 2020, indicating strong sales performance[65] - The net cash flow from operating activities was -121,261,571.22 RMB, compared to -4,373,670.20 RMB in the previous year, indicating a significant decline[71] - Total cash inflow from financing activities reached 1,500,632,075.47 RMB, with a net cash flow of 1,493,843,552.54 RMB after outflows[73] - The company reported a net increase in cash and cash equivalents of 449,236,168.88 RMB, compared to 135,947,257.23 RMB in the previous year[73] Research and Development - Research and development expenses accounted for 4.48% of operating revenue, down from 8.15% in the previous year[17] - Research and development expenses increased by 97.46% to CNY 23,760,075.92 from CNY 12,032,804.80, indicating a focus on innovation[36] - Research and development expenses for Q1 2021 were ¥23,760,075.92, compared to ¥12,032,804.80 in Q1 2020, reflecting an increase of approximately 97%[57] Shareholder Information - The total number of shareholders at the end of the reporting period was 7,737[23] - The largest shareholder, Guangdong Jiayuan Industrial Investment Co., Ltd., held 27.43% of the shares[23]