Financial Performance - The company's operating revenue for Q1 2022 was CNY 383,319,305.98, representing a year-on-year increase of 40.45%[4] - The net profit attributable to shareholders was CNY 33,400,626.47, up 34.27% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 31,943,481.67, an increase of 104.04% year-on-year[4] - The basic earnings per share for the period was CNY 0.20, a rise of 33.33% compared to the previous year[5] - Operating profit for Q1 2022 was ¥38,701,671.00, up from ¥27,314,965.83 in Q1 2021, reflecting a growth of 41.8%[21] - Net profit for Q1 2022 was ¥33,415,070.86, compared to ¥24,875,465.56 in Q1 2021, representing an increase of 34.4%[21] - Earnings per share for Q1 2022 were ¥0.20, up from ¥0.15 in Q1 2021, indicating a growth of 33.3%[22] Research and Development - Research and development expenses totaled CNY 15,331,799.82, which is 4.00% of operating revenue, reflecting a 48.07% increase in R&D investment[5] - Research and development expenses for Q1 2022 were ¥15,331,799.82, up from ¥10,354,381.86 in Q1 2021, reflecting a growth of 47.9%[21] Assets and Liabilities - The total assets at the end of the period were CNY 2,028,546,135.42, a 2.21% increase from the end of the previous year[5] - Total assets as of Q1 2022 amounted to ¥2,028,546,135.42, an increase from ¥1,984,588,142.03 in the previous year[17] - Total liabilities for Q1 2022 were ¥568,217,810.34, compared to ¥557,783,047.91 in Q1 2021, showing a rise of 1.6%[17] Cash Flow - The net cash flow from operating activities was negative at CNY -17,967,291.31, reflecting an increase of 87.24% in cash outflow compared to the previous year[4] - Cash flow from operating activities in Q1 2022 was ¥371,043,275.27, a substantial increase from ¥40,305,855.58 in Q1 2021[24] - The net cash flow from operating activities was -$17,967,291.31, compared to -$140,848,487.82 in the previous year, indicating an improvement[25] - Total cash inflow from operating activities was $374,381,964.78, while cash outflow was $392,349,256.09, resulting in a net cash outflow of $17,967,291.31[25] - Cash flow from investing activities showed a net outflow of -$48,810,933.58, compared to -$332,452,082.02 in the previous year, reflecting a significant reduction in investment losses[25] - The cash flow from financing activities resulted in a net outflow of -$1,000,000.00, compared to -$20,230,259.67 in the previous year, indicating a decrease in financing costs[26] Shareholder Information - The company has a total of 51,000,000 shares held by the largest shareholder, accounting for 31.08% of total shares[12] - The second-largest shareholder holds 21,250,000 shares, representing 12.95% of total shares[12] Other Income and Sales - The company reported a significant increase in sales of solar cell back sheets and encapsulation films, contributing to revenue growth[8] - The company experienced a 99.29% increase in other income due to compensation received from suppliers[8] - Other income for Q1 2022 was ¥3,298,426.87, down from ¥8,185,108.55 in Q1 2021, indicating a decrease of 59.8%[21] Current Assets - The company reported a total current assets of CNY 1,530,447,800.71 as of March 31, 2022, a slight decrease from CNY 1,537,039,915.69 at the end of 2021[14] - Cash and cash equivalents decreased to CNY 326,228,380.81 from CNY 393,549,955.24, reflecting a decline of approximately 17%[14] - Accounts receivable increased to CNY 529,347,179.94, up from CNY 422,375,685.84, representing a growth of about 25%[15] - Inventory rose to CNY 259,605,061.58 from CNY 242,726,879.46, indicating an increase of approximately 7%[15] - The company’s long-term equity investments increased significantly to CNY 52,038,879.71 from CNY 11,773,099.40, marking a growth of over 341%[15] - The total non-current assets amounted to CNY 498,098,334.71, up from CNY 447,548,226.34, reflecting an increase of about 11%[15] Company Developments - The company has not reported any significant new product launches or technological advancements during this quarter[13] - There are no major mergers or acquisitions reported in the current quarter[13]

Financial Performance - The company's operating revenue for 2021 was CNY 1,289,068,858.97, representing a 40.33% increase compared to CNY 918,629,999.98 in 2020[19]. - The net profit attributable to shareholders of the listed company was CNY 122,924,268.25, a 16.53% increase from CNY 105,489,244.29 in the previous year[19]. - The net profit after deducting non-recurring gains and losses increased by 32.03% to CNY 94,179,903.30 from CNY 71,330,713.24 in 2020[19]. - The company's cash flow from operating activities showed a net outflow of CNY 93,255,130.82, a decrease of 377.36% compared to a net inflow of CNY 33,622,169.19 in 2020[20]. - The total assets at the end of 2021 were CNY 1,984,588,142.03, reflecting a 14.12% increase from CNY 1,739,023,376.06 at the end of 2020[20]. - The basic earnings per share for 2021 was CNY 0.75, down 12.79% from CNY 0.86 in 2020[21]. - The company's main business income reached CNY 126,377.68 million, up 38.56% year-on-year, while the main business cost increased by 43.24%[110]. - The net profit attributable to shareholders was CNY 12,292.43 million, a year-on-year growth of 16.53%[108]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion yuan, representing a year-over-year growth of 15%[168]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 2.50 CNY per 10 shares, totaling approximately 41.02 million CNY, which represents a cash dividend payout ratio of 33.37% for the year 2021[5]. - The board of directors has approved a dividend payout of 0.5 yuan per share, reflecting a commitment to returning value to shareholders[169]. Research and Development - The company invested 52.6 million yuan in R&D in 2021, accounting for 4.08% of its revenue, and has a research team of 68 members[65]. - The company added 5 new patents in 2021, bringing the total to 119, including 31 invention patents[65]. - The company is focusing on R&D to meet the evolving demands for aluminum-plastic film products in various applications, including new energy vehicles[102]. - The company has established a core technology system with independent intellectual property rights, enhancing its comparative advantages in the industry[98]. - The company has implemented a stable extrusion production process, ensuring long-term reliability of its products[94]. Market and Sales Performance - The company experienced an increase in orders for its main products, including solar cell backsheets and encapsulants, contributing to revenue growth[21]. - The company exported 8.6344 million square meters of backplane, accounting for 9.74% of total sales, indicating strong demand in overseas markets[44]. - The company achieved a production capacity of 40 million square meters of POE/EVA film in 2021, with an actual production of 987.95 million square meters and a sales volume of 885.65 million square meters, resulting in a sales rate of 90%[34]. - The cumulative sales of the company's backplane reached 88.6392 million square meters, while aluminum-plastic film sales totaled 5.8756 million square meters and encapsulation adhesive film sales reached 8.8565 million square meters, meeting annual operational targets[36]. - The company plans to increase aluminum-plastic film production capacity to 10 million square meters annually by 2022, with expected sales volume reaching 13-15 million square meters for the year[36]. Corporate Governance - The company has confirmed that all board members attended the board meeting, ensuring governance compliance[5]. - The company has not reported any special arrangements for corporate governance[7]. - The company has not violated any decision-making procedures for providing guarantees[7]. - The company has not reported any non-operating fund occupation by controlling shareholders or their affiliates[7]. - The company has established a performance evaluation system and salary distribution system to motivate employees and ensure competitive compensation[188]. Risk Management - The company has detailed various risks and countermeasures in its report, emphasizing the importance of investor awareness regarding investment risks[6]. - The company faces risks related to the long collection cycle of receivables, which could impact cash flow and operational stability[104]. - The company has implemented measures to optimize supply chain management and improve production yield, achieving the targeted production yield for the year[33]. Environmental and Social Responsibility - The company actively promotes ESG management and has implemented a social responsibility management system[196]. - The company does not belong to the list of key pollutant discharge units published by environmental protection authorities[197]. - The company adheres to the Air Pollution Prevention Law, ensuring that exhaust emissions meet standards through RTO incineration treatment[199]. - Energy consumption has been reduced through the use of energy-saving and water-saving equipment[200]. Future Outlook - The company plans to continue expanding its market presence and investing in new product development to sustain growth[21]. - The company expects to achieve a production and sales volume of over 130 million square meters of backsheet in 2022, representing a growth of approximately 40-50%[155]. - The company aims for a 100% capacity release of its aluminum-plastic film project in 2022, with expected production and sales volume reaching 13-15 million square meters, indicating a year-on-year growth of over 150%[155]. - The company anticipates a significant growth in the photovoltaic market, with an expected installation capacity of 55-65 GW in 2021[148].

Financial Performance - The company's operating revenue for Q3 2021 was ¥344,635,293.47, representing a year-on-year increase of 27.85%[5] - The net profit attributable to shareholders for the same period was ¥32,222,239.67, reflecting a growth of 6.46% compared to the previous year[5] - The company reported a year-to-date net profit attributable to shareholders of ¥87,506,759.59, which is a 10.32% increase year-on-year[5] - Net profit for the third quarter of 2021 was ¥87,506,759.59, representing a 10.0% increase from ¥79,317,925.99 in the same quarter of 2020[24] - The basic earnings per share for Q3 2021 was ¥0.20, down 16.67% compared to the same period last year[6] - Earnings per share for the third quarter of 2021 were ¥0.53, down from ¥0.64 in the same quarter of 2020[25] - The company reported a total comprehensive income of ¥87,861,098.38 for the third quarter of 2021, compared to ¥79,223,264.24 in the same quarter of 2020, an increase of 10.8%[25] Research and Development - Research and development expenses totaled ¥13,905,443.63 in Q3 2021, an increase of 51.89% year-on-year, driven by new project investments in aluminum-plastic films and gel films[11] - The proportion of R&D expenses to operating revenue was 4.03% for Q3 2021, up from 3.91% in the previous year[6] - Research and development expenses for the first three quarters of 2021 totaled ¥37,554,422.81, compared to ¥22,193,631.39 in 2020, indicating a 68.9% increase[24] Assets and Liabilities - The total assets of the company reached ¥1,889,192,584.80, marking an 8.64% increase from the end of the previous year[6] - As of September 30, 2021, total assets amounted to ¥1,889,192,584.80, an increase from ¥1,739,023,376.06 in the previous year[19] - Current assets totaled ¥1,527,606,963.31, compared to ¥1,450,304,899.26 in the same period last year, reflecting a growth of approximately 5.4%[18] - Total liabilities reached ¥508,397,824.78, compared to ¥413,272,167.22 in the previous year, marking an increase of about 23.1%[19] - The company has a significant amount of receivables financing, which increased to ¥389,163,798.45 from ¥102,239,270.80, showing a growth of approximately 281.5%[18] Cash Flow - The net cash flow from operating activities for the year-to-date period was -¥283,254,084.75, indicating a significant decrease due to increased receivables and higher procurement costs[6][11] - Cash flow from operating activities for the first three quarters of 2021 was ¥572,817,333.37, an increase from ¥453,038,220.54 in 2020, marking a 26.5% rise[27] - The net cash flow from operating activities was -283,254,084.75, a significant decrease compared to 32,188,406.89 in the previous period[28] - Total cash inflow from investment activities was 305,634,387.72, while cash outflow was 391,257,153.56, resulting in a net cash flow of -85,622,765.84[28] - Cash inflow from financing activities totaled 1,000,000.00, with cash outflow amounting to 62,027,806.87, leading to a net cash flow of -61,027,806.87[29] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 7,109[13] - The company has a total of 51,000,000 shares held by the largest shareholder, accounting for 31.08% of the total shares[14] Inventory and Receivables - Accounts receivable increased to ¥437,529,638.92 from ¥408,711,463.55, representing a rise of about 7.4% year-over-year[18] - Inventory levels rose significantly to ¥253,447,724.16, up from ¥108,733,234.26, indicating a substantial increase of approximately 133.3%[18] Tax and Expenses - The company experienced a decrease in tax expenses, with income tax expenses for the third quarter of 2021 at ¥9,328,561.86, down from ¥11,620,196.64 in the same quarter of 2020[24] - Payments to employees increased to 51,440,805.23 from 33,412,052.48 in the previous period[28]

Financial Performance - The company's operating revenue for Q3 2021 was CNY 344,635,293.47, representing a year-on-year increase of 27.85%[5] - The net profit attributable to shareholders for the same period was CNY 32,222,239.67, with a year-on-year growth of 6.46%[5] - The total revenue for the year-to-date period was CNY 961,689,047.84, showing a substantial increase of 57.35% year-on-year[5] - The net profit attributable to shareholders for the year-to-date period was CNY 87,506,759.59, with a year-on-year increase of 10.32%[5] - Net profit for the first three quarters of 2021 reached ¥87,506,759.59, compared to ¥79,317,925.99 in the same period of 2020, reflecting a growth of approximately 10.0%[23] - Operating revenue for the first three quarters of 2021 was ¥961,689,047.84, a significant increase from ¥611,163,266.03 in 2020, marking a growth of about 57.2%[22] Research and Development - Research and development expenses totaled CNY 13,905,443.63 in Q3 2021, accounting for 4.03% of operating revenue, an increase of 0.63 percentage points year-on-year[6] - The company experienced a 51.89% increase in R&D investment for the year-to-date period, primarily due to new project developments in aluminum-plastic films and gel films[10] - Research and development expenses increased to ¥37,554,422.81 from ¥22,193,631.39, showing a rise of approximately 68.9%[23] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 1,889,192,584.80, reflecting an increase of 8.64% compared to the end of the previous year[6] - As of September 30, 2021, the company's total current assets amounted to ¥1,527,606,963.31, an increase from ¥1,450,304,899.26 in the previous year[17] - The company's non-current assets totaled ¥361,585,621.49, up from ¥288,718,476.80, representing a growth of about 25.2%[17] - Total liabilities rose to ¥508,397,824.78, up from ¥413,272,167.22, indicating an increase of about 23.1%[18] - The total liabilities of the company were not explicitly stated in the provided documents, but the increase in assets suggests potential growth in liabilities as well[15] Cash Flow - The net cash flow from operating activities was negative at CNY -283,254,084.75, indicating a significant cash outflow[6] - The net cash flow from operating activities was -283,254,084.75, a significant decrease compared to 32,188,406.89 in the previous period[27] - Total cash inflow from investment activities was 305,634,387.72, while cash outflow was 391,257,153.56, resulting in a net cash flow of -85,622,765.84[27] - Cash inflow from financing activities totaled 1,000,000.00, with cash outflow amounting to 62,027,806.87, leading to a net cash flow of -61,027,806.87[28] - The company reported a total cash outflow from operating activities of 876,625,824.99, compared to 549,671,564.08 in the previous period[27] Shareholder Structure and Management - The company has a notable shareholder structure, with the largest shareholder holding 31.08% of the shares, indicating a concentrated ownership[14] - The company is actively involved in strategic asset management plans, which include participation from senior management and core employees[14] Audit and Compliance - There are no significant audit opinions or concerns noted for the financial statements for the reporting period[15] Other Financial Metrics - The company reported a basic earnings per share of CNY 0.20, a decrease of 16.67% compared to the same period last year[6] - The company's cash and cash equivalents were reported at ¥218,350,926.94, significantly down from ¥649,934,931.83 a year earlier, indicating a decrease of approximately 66.5%[16] - Accounts receivable increased to ¥437,529,638.92 from ¥408,711,463.55, reflecting a growth of about 7.4% year-over-year[17] - The inventory level rose to ¥253,447,724.16, compared to ¥108,733,234.26 in the previous year, marking an increase of approximately 133.3%[17] - The company reported a significant increase in financing receivables, which rose to ¥389,163,798.45 from ¥102,239,270.80, a growth of approximately 280.5%[17] - Basic earnings per share decreased to ¥0.53 from ¥0.64, reflecting a decline of approximately 17.2%[24] - Cash received from sales of goods and services was ¥572,817,333.37, up from ¥453,038,220.54, indicating an increase of about 26.5%[26] - Deferred income decreased to ¥16,606,681.09 from ¥23,285,448.70, a decline of approximately 28.7%[18] - Other comprehensive income after tax increased to ¥354,338.79 from a loss of ¥94,661.75, showing a significant turnaround[24] - The ending balance of cash and cash equivalents was 218,011,312.85, down from 648,210,606.59 at the beginning of the period[28] - The company received tax refunds totaling 3,001,362.73, compared to 3,076,220.35 in the previous period[27] - Cash received from other operating activities was 17,553,044.14, a decrease from 125,745,530.08 in the previous period[27] - Payments to employees increased to 51,440,805.23 from 33,412,052.48 in the previous period[27] - The impact of exchange rate changes on cash and cash equivalents was -294,636.28, compared to -2,240,202.00 in the previous period[28] - The company did not report any cash inflow from the issuance of new investments during this period[28]

Financial Performance - The company reported a total revenue of 500 million CNY for the first half of 2021, representing a 20% increase compared to the same period last year[1]. - The company's operating revenue for the first half of 2021 reached ¥617,053,754.37, representing an increase of 80.64% compared to ¥341,591,337.46 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was ¥55,284,519.92, up 12.71% from ¥49,051,656.55 in the previous year[18]. - The net cash flow from operating activities was negative at -¥220,884,835.26, a decrease of 520.54% compared to ¥52,524,058.99 in the same period last year[18]. - The gross profit margin improved to 35%, up from 30% in the previous year, reflecting better cost management[1]. - Revenue increased by 80.64% year-on-year, driven by a 73.43% increase in solar cell backplane revenue, a 102.78% increase in aluminum-plastic film revenue, and a 1507.71% increase in adhesive film revenue[20]. - The net profit after deducting non-recurring gains and losses was ¥38,845,590.97, which is a 4.84% increase from ¥37,050,575.03 in the previous year[18]. - Basic earnings per share for the first half of 2021 were ¥0.34, a decrease of 15.00% compared to ¥0.40 in the same period last year[19]. - The weighted average return on net assets was 4.08%, down 3.22 percentage points from 7.30% in the same period last year[19]. Research and Development - The company has allocated 50 million CNY for R&D in new technologies aimed at improving product efficiency[1]. - The research and development expenditure accounted for 3.83% of operating revenue, slightly increasing from 3.82% in the previous year[19]. - The company achieved a total R&D investment of ¥23,648,979.18, representing an increase of 81.37% compared to the previous period[40]. - The company has developed a new integrated packaging material for solar cells that combines the functions of traditional solar adhesive films and back sheets, enhancing production efficiency and reducing defect rates[34]. - The company is focusing on the development of new adhesive materials for aluminum-plastic films, with a production volume of 2,000,000 units and revenue of 203,361.44, breaking foreign monopolies in the market[44]. - The company has developed a new type of CPP adhesive for aluminum-plastic films, which enhances product quality and reduces reliance on foreign products[45]. - The company has received 3 new patents during the reporting period, bringing the total number of patents to 118[39]. Market Expansion and Strategy - The company is expanding its market presence in Southeast Asia, targeting a 30% increase in sales in that region by the end of 2021[1]. - A strategic acquisition of a local competitor is in progress, expected to enhance production capacity by 40%[1]. - The company plans to expand its production capacity for POE film by 120 million square meters annually to capture the growing market share of bifacial components[32]. - The company is actively expanding its product line to include various solar cell packaging films to meet the diverse needs of bifacial component packaging[37]. - The company has established a production base in Vietnam to expand its overseas market share for solar cell backplanes and encapsulation films, enhancing its international presence[54]. - The company is focused on the development of environmentally friendly materials, successfully passing rigorous reliability tests from third-party certification bodies[54]. Risks and Challenges - The company has identified potential risks related to supply chain disruptions but has implemented strategies to mitigate these risks[1]. - The company faces risks from raw material price fluctuations, particularly for PVF fluoropolymer film supplied exclusively by DuPont[69]. - Increased competition in the photovoltaic industry may lead to further price declines for the company's products, impacting profitability[68]. - The company is at risk of talent loss due to intensified competition for skilled personnel in the industry[68]. - The overall economic environment and changes in macroeconomic policies could adversely affect the photovoltaic industry and the company's performance[69]. Shareholder and Governance - The board has approved a profit distribution plan, with no plans for capital increase through reserves during this period[1]. - The company has made commitments regarding share transfer restrictions for major shareholders and management for a period of 36 months post-IPO[94]. - The company will comply with relevant laws and regulations regarding share transfers as stipulated by the Company Law and Securities Law of the People's Republic of China[101]. - The company has committed to ensuring that there are no fraudulent activities in its public offering and will buy back shares if it fails to meet listing conditions[114]. - The company has established measures to ensure compliance with commitments made during its IPO process, including timely disclosures and potential compensation for investor losses[134]. Production and Sales - The company achieved a production volume of 4,000,000 units for integrated building photovoltaic products, generating revenue of 1,585,036.04[44]. - The sales volume of solar cell backplanes reached 44.67 million square meters in the first half of 2021, representing an increase of 83.4% compared to the same period last year[58]. - The company has completed the installation of six production lines for POE encapsulation film, aiming to capture market share in double-glass component encapsulation materials[62]. - The company has developed a high-reflective backplane with a reflectivity exceeding 90%, which can enhance the conversion efficiency of photovoltaic modules by approximately 1%[52]. - The company is producing high-reflective EVA films for photovoltaic modules, with a production volume of 5,000,000 units and revenue of 1,902,717.56, enhancing power generation efficiency[44]. Financial Health - The total assets at the end of the reporting period were ¥1,841,038,884.02, reflecting a 5.87% increase from ¥1,739,023,376.06 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company increased by 1.71% to ¥1,348,404,033.90 from ¥1,325,751,208.84 at the end of the previous year[18]. - The company reported a significant increase in other payables, which rose by 577.75% to 37,466,003.61 RMB, mainly due to increased dividend payables[75]. - The company has not reported any new product launches or technological advancements in the current period[194]. - The company’s future outlook remains cautiously optimistic, with a focus on maintaining equity growth and profitability[194].

Financial Performance - Operating revenue for the period reached CNY 272,930,538.89, a 62.31% increase year-on-year[6] - Net profit attributable to shareholders decreased slightly by 0.30% to CNY 24,875,465.56 compared to the same period last year[6] - Basic and diluted earnings per share both decreased by 25% to CNY 0.15[6] - Operating profit for Q1 2021 was ¥27,314,965.83, slightly down from ¥28,914,995.55 in Q1 2020, reflecting a decrease of 5.5%[22] - Net profit for Q1 2021 was ¥24,875,465.56, a marginal decrease of 0.3% compared to ¥24,951,497.44 in Q1 2020[22] - The company reported a basic earnings per share of ¥0.15 for Q1 2021, down from ¥0.20 in Q1 2020[22] - The company’s operating profit for Q1 2021 was ¥29.63 million, a decrease of 2.9% from ¥30.52 million in Q1 2020[25] Assets and Liabilities - Total assets increased by 4.14% to CNY 1,811,067,954.18 compared to the end of the previous year[6] - Total assets as of March 31, 2021, amounted to ¥1,829,979,920.92, up from ¥1,759,156,223.55 at the end of 2020, indicating a growth of 4.0%[19] - Total liabilities increased to ¥452,877,269.62 in Q1 2021 from ¥408,382,499.71 in Q4 2020, representing an increase of 10.9%[19] - Current assets totaled ¥1,516,472,831.75, showing a slight increase of 3.8% from ¥1,460,894,827.20 at the end of 2020[19] Cash Flow - The net cash flow from operating activities was negative at CNY -140,848,487.82, a decline of 466.08% compared to the previous year[6] - The net cash flow from operating activities for Q1 2021 was -¥140.85 million, compared to a positive cash flow of ¥38.48 million in Q1 2020[27] - The company reported a total cash outflow of $493.22 million for the quarter, contrasting with an inflow of $17.08 million in the same quarter last year[30] - The total cash and cash equivalents at the end of the period were $148.23 million, down from $641.44 million at the beginning of the period[30] Research and Development - The R&D investment as a percentage of operating revenue increased by 0.81 percentage points to 3.79%[6] - Research and development expenses increased by 106.82% to ¥10.35 million, indicating higher investment in R&D[13] - Research and development expenses for Q1 2021 were ¥10,354,381.86, up 106.9% from ¥5,006,355.09 in Q1 2020, highlighting a focus on innovation[21] - Research and development expenses increased to ¥8.59 million in Q1 2021, up 102.5% from ¥4.24 million in Q1 2020[25] Shareholder Information - The total number of shareholders at the end of the reporting period was 9,932[10] - The largest shareholder, Yan Hongjia, holds 51,000,000 shares, accounting for 31.08% of the total shares[10] Government Support - The company received government subsidies amounting to CNY 8,137,112.50 during the reporting period[7] Financial Position Changes - Cash and cash equivalents decreased by 76.10% to ¥155.31 million due to purchases of financial products and materials[12] - Trade financial assets increased to ¥301.77 million, marking a 100% increase due to the rise in financial products[12] - Accounts receivable financing rose by 145.42% to ¥250.92 million, attributed to an increase in bank acceptance bills[12] - Operating costs rose by 81.36% to ¥227.89 million, reflecting increased sales of solar products[13] - Contract liabilities decreased by 67.90% to ¥671.77 thousand, due to a reduction in customer prepayments[13]

Financial Performance - The company's operating revenue for 2020 was approximately CNY 918.63 million, a decrease of 2.87% compared to CNY 945.75 million in 2019[24]. - The net profit attributable to shareholders for 2020 was CNY 105.49 million, representing a slight increase of 0.56% from CNY 104.91 million in 2019[24]. - The net cash flow from operating activities decreased by 75.92% to CNY 33.62 million, primarily due to increased accounts receivable and reduced cash inflow[26]. - The total assets increased by 64.75% to CNY 1.74 billion, mainly due to funds raised from the initial public offering[26]. - The net assets attributable to shareholders rose by 104.83% to CNY 1.33 billion, also driven by the initial public offering[26]. - Basic earnings per share for 2020 were CNY 0.86, a 1.18% increase from CNY 0.85 in 2019[25]. - The R&D expenditure as a percentage of operating revenue was 4.04%, up from 3.95% in 2019[25]. - The company experienced a 12.04% decline in net profit after deducting non-recurring gains and losses, attributed to decreased sales prices and increased raw material costs[26]. - The weighted average return on equity decreased to 15.07%, down 2.57 percentage points from 17.64% in 2019[25]. - The company reported a significant increase in government subsidies recognized in profit, amounting to CNY 38.78 million in 2020, compared to CNY 29.40 million in 2019[30]. Dividend and Share Capital - The company plans to distribute a cash dividend of 2.00 yuan per 10 shares, totaling approximately 32.82 million yuan, representing a cash dividend payout ratio of 31.11% for the year 2020[6]. - The total share capital as of December 31, 2020, is 164,087,736 shares[6]. - The company does not plan to issue bonus shares or increase capital reserves for the year 2020[6]. Risk Management - The company has outlined various risks in its operations, detailed in the section on "Risk Factors" in the report[5]. - The company emphasizes the importance of risk management and compliance with laws and regulations among management personnel to ensure healthy development[138]. Audit and Compliance - The company has received a standard unqualified audit opinion from Tianjian Accounting Firm[8]. - There are no non-operating fund occupations by controlling shareholders or related parties[8]. - The company has no violations of decision-making procedures for providing guarantees[8]. - The report includes forward-looking statements regarding future plans and strategies, which do not constitute a commitment to investors[7]. - The company has committed to fulfilling all promises made during the IPO process and will accept social supervision[192]. Research and Development - The company focuses on producing solar cell packaging films, including POE and EVA films, which enhance the reliability of N-type battery components and bifacial modules[14]. - The company has established two major R&D platforms focusing on material processing technology and advanced production processes, contributing to its core competitiveness[35]. - The company has invested over 10 years in R&D, resulting in a robust technology system for functional polymer films and special adhesives[35]. - The total R&D investment for the year was approximately ¥37.07 million, representing 4.04% of operating revenue, a slight increase from 3.95% the previous year[65]. - The company has developed key raw materials for its composite membrane products, enhancing its competitive advantage in the market[35]. Market Position and Strategy - Longi Green Energy completed the acquisition of 100% equity in Vina Solar Technology Co., Ltd. on June 30, 2020, making it a subsidiary[14]. - The company has established a strong customer base, including major players like JA Solar and GCL-Poly Energy Holdings[14]. - The company anticipates a further increase in the market share of bifacial modules, projected to reach 39% in 2021[40]. - The company achieved a global market share of approximately 15.57% in solar cell backplanes, ranking third in the industry for three consecutive years[53]. - The company aims to maintain its market share in solar cell backplanes while increasing the contribution of solar cell encapsulation films and lithium battery aluminum-plastic films to its revenue[137]. Production and Capacity - The company plans to increase its production capacity of solar cell encapsulation film by 120 million square meters in 2021 to capture market share in the bifacial module segment[41]. - The existing production capacity for solar cell backsheets is 84 million square meters per year, which will increase to 114 million square meters per year with the new project coming online in 2021[139]. - The company is expanding its production capacity for solar cell packaging materials to quickly capture market share, with a target of 120 million square meters annually[93]. Intellectual Property - The company holds a total of 115 patents, including 28 invention patents and 74 utility model patents, reflecting its strong R&D capabilities[80]. - The company has obtained 19 invention patents related to solar cell backplanes and 9 invention patents for lithium battery aluminum-plastic films by 2020[54]. Financial Management - The company’s cash and cash equivalents increased by 512.99% to approximately 649.93 million RMB as of December 31, 2020, compared to 106.03 million RMB in the previous year[78]. - The company reported a significant increase in financial expenses, up 160.57% to ¥4,523,997.04[105]. - The company’s total liabilities decreased significantly, with long-term borrowings reduced to zero due to repayment[122]. Shareholder Commitments - The controlling shareholder Yan Hongjia and actual controllers Yan Hongjia and Yan Yong committed not to transfer or entrust the management of their shares for 36 months from the date of the company's stock listing[151]. - The company guarantees that undistributed profits before the IPO will be shared among new and old shareholders based on their shareholding ratios[176]. - The company has pledged to compensate investors for any losses incurred due to false statements or omissions in the prospectus[177]. Future Outlook - The company aims to enhance existing business development to increase revenue and net profit levels[172]. - The company plans to enhance its main business profitability by expanding existing product capacity through the implementation of fundraising projects[174]. - The company is actively expanding its customer base in high-end digital markets, targeting clients such as ATL, Guanyu, and BYD for aluminum-plastic films[140].