2021 年第三季度报告 证券代码：688585 证券简称：上纬新材 上纬新材料科技股份有限公司 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 单位：元 币种：人民币 | | | 本报告期比上年 | 年初至报告期 | 年初至报告期末比 | | --- | --- | --- | --- | --- | | 项目 | 本报告期 | 同期增减变动幅 | 末 | 上年同期增减变动 | | | | 度(%) | | 幅度(%) | | 营业收入 | 487,834,329.00 | -18.43 | 1,495,814,449 | 14.06 ...

Financial Performance - The company reported a revenue of 1.2 billion CNY for the first half of 2021, representing a year-on-year growth of 15%[13]. - The company's operating revenue for the first half of 2021 was ¥1,007,980,120.18, representing a 41.29% increase compared to ¥713,436,466.24 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was -¥2,620,138.47, a decrease of 105.69% from ¥46,039,125.11 in the previous year[20]. - The net cash flow from operating activities decreased by 382.37%, amounting to -¥98,943,633.38, primarily due to increased cash outflows for raw material procurement[22]. - The company achieved a total comprehensive loss of ¥3,433,880.92 for the first half of 2021, compared to a comprehensive income of ¥48,037,032.42 in the same period of 2020[184]. - The company reported a decrease in undistributed profits to RMB 247,657,769.18 from RMB 282,533,907.65, a decline of approximately 12.3%[176]. Research and Development - Research and development expenses increased by 25% to 150 million CNY, focusing on advanced composite materials[13]. - The company achieved a total R&D investment of ¥14,104,411.42, representing a 7.52% increase compared to ¥13,118,190.65 in the previous period[38]. - The company has obtained a total of 85 authorized patents, with 3 new patents granted in 2021[36]. - A total of 9 R&D projects were completed during the reporting period, focusing on product improvement and the development of green, environmentally friendly, and safe materials[36]. - The company is focusing on developing thermoplastic epoxy resins that retain epoxy characteristics while improving wettability with fibers[33]. Market Expansion and Strategy - The company plans to launch two new products in Q3 2021, targeting a market expansion of 10% in the renewable energy sector[13]. - Market expansion efforts include entering Southeast Asia, with an expected contribution of 5% to total revenue by the end of 2021[13]. - The company has no plans for mergers or acquisitions in the near term, focusing instead on organic growth strategies[13]. - A new strategic partnership was formed with a leading wind turbine manufacturer to enhance product offerings[13]. Operational Challenges - The company has identified potential risks related to supply chain disruptions, which may impact production timelines[13]. - The company faced challenges due to high raw material prices, which limited the ability to adjust sales prices accordingly[21]. - The company's gross profit margin declined due to the increase in raw material costs, with operating costs rising by 56.74% to CNY 930,106,819.75[70]. Environmental Compliance - Environmental compliance is a priority, with all emissions meeting national standards[97]. - The company reported no exceedances in emissions for all monitored pollutants[99]. - The company has implemented measures for the unified collection and treatment of municipal solid waste[100]. - The company aims to reduce carbon emissions by gradually using green energy or reducing electricity consumption from 2021 to 2025[112]. Shareholder and Governance - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of its stock listing[115]. - The company will not repurchase shares held by shareholders during the lock-up period[116]. - The company has established a commitment to comply with regulatory adjustments regarding share lock-up periods as required by the China Securities Regulatory Commission[116]. - The company will ensure compliance with legal and regulatory requirements in its profit distribution practices[123]. Investment and Financing - The company plans to invest 210 million RMB to acquire approximately 23.81% of Anhui Meijia New Materials Co., Ltd.[80]. - The company plans to issue convertible bonds not exceeding RMB 510 million to fund the acquisition of factory and land ownership[139]. - The cumulative investment in various resin technologies has reached $493.41 million, indicating a strong commitment to innovation and market expansion[41][42]. Product Development - The company is developing new types of modified epoxy resins to enhance mechanical properties and fatigue resistance, particularly for wind turbine blade applications[35]. - The company is also working on new resin preparation technologies to meet the demands of the growing 5G industry, addressing challenges related to viscosity and processability[35]. - The company is focusing on the development of eco-friendly anti-corrosion resins for water treatment facilities, with ongoing production area planning to meet industry environmental standards[41].

Financial Performance - Operating revenue for the year-to-date was CNY 429,819,237.76, representing an increase of 82.80% year-on-year[5] - Net profit attributable to shareholders was a loss of CNY 14,582,098.84, a decrease of 300.20% compared to the same period last year[5] - Basic earnings per share were CNY -0.04, a decrease of 300% compared to CNY 0.02 in the previous year[5] - The company's total operating revenue for Q1 2021 was ¥164,748,690.08, a significant increase of 210.5% compared to ¥53,102,640.95 in Q1 2020[35] - The net profit for Q1 2021 was ¥1,839,792.19, down from ¥2,009,316.59 in Q1 2020, representing a decrease of 8.5%[36] Cash Flow - Cash flow from operating activities was a negative CNY 121,000,487.44, an increase in outflow of 341.53% year-on-year[5] - Cash outflow for purchasing goods and services was CNY 157,548,944.38, a 71.72% increase due to increased inventory and payments for previous quarter's purchases[16] - Cash outflow for other operating activities was CNY 31,718,305.86, a 58.42% increase attributed to rising manufacturing and operating expenses due to increased revenue[16] - The cash flow from tax refunds increased by 76.24% to ¥3,374,669.99, compared to ¥1,914,866.19 in Q1 2020, driven by higher sales revenue[15] - The net cash flow from operating activities for Q1 2021 was -18,639,779.91 RMB, a significant decline compared to -4,263,091.89 RMB in Q1 2020, representing a year-over-year decrease of approximately 338%[42] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,936,652,664.11, a decrease of 2.58% compared to the end of the previous year[5] - Total current assets as of March 31, 2021, were CNY 1,664,416,147.34, a decrease from CNY 1,726,171,912.13 at the end of 2020[22] - Total liabilities as of March 31, 2021, were CNY 916,564,804.44, compared to CNY 923,400,893.38 at the end of 2020[24] - The company's total assets as of March 31, 2021, were ¥1,346,890,844.31, down from ¥1,382,619,434.72 at the end of 2020[28] - The total liabilities as of March 31, 2021, were ¥486,980,400.79, compared to ¥493,108,608.02 at the end of 2020, showing a decrease of about 1%[28] Shareholder Information - The total number of shareholders at the end of the reporting period was 6,630[12] - The largest shareholder, SWANCOR IND. CO., LTD., held 64.04% of the shares[12] Research and Development - Research and development expenses accounted for 1.68% of operating revenue, a decrease of 0.75 percentage points[7] - Research and development expenses for Q1 2021 amounted to ¥7,204,855.72, an increase from ¥5,709,230.75 in Q1 2020, reflecting a growth of approximately 26%[31] Financial Expenses - The company's financial expenses increased significantly to ¥3,971,232.14 from a negative amount in the previous year, due to bill discounts and exchange losses[15] Other Income and Expenses - The company reported a non-operating income of CNY 8,304.58, primarily from investment income[10] - The company recognized other income of ¥33,082.84 in Q1 2021, compared to none in Q1 2020, mainly from tax refunds[15] Cash and Cash Equivalents - The company reported cash and cash equivalents at the end of Q1 2021 of ¥107,879,994.63, down from ¥87,543,971.18 at the end of Q1 2020[40] - The company's cash and cash equivalents decreased by 46.75% to ¥131,472,831.81 from ¥246,912,555.33, mainly due to payments for procurement[14] Changes in Equity - The company's retained earnings decreased to ¥83,127,063.21 as of March 31, 2021, from ¥113,543,271.02 at the end of 2020, a decline of about 27%[29] - The total equity attributable to shareholders was ¥859,910,443.52 as of March 31, 2021, down from ¥889,510,826.70 at the end of 2020, indicating a decrease of approximately 3%[29] Other Financial Metrics - The weighted average return on net assets decreased by 2.22 percentage points to -1.38%[5] - Management expenses rose by 39.46% to ¥16,700,686.28, up from ¥11,975,464.49, due to staff expansion and increased labor costs[15]

Financial Performance - In 2020, the company achieved operating revenue of CNY 1,945.96 million, representing a year-on-year growth of 44.28%[12]. - The net profit attributable to shareholders of the listed company for 2020 was CNY 118.95 million, an increase of 51.98% compared to the previous year[12]. - The company reported a gross margin of 35% for the fiscal year 2020, reflecting improved operational efficiency and cost management strategies[22]. - The total assets at the end of 2020 reached CNY 1,987,942,246.81, a 47.70% increase from the end of 2019[30]. - Basic earnings per share increased by 45.45% to CNY 0.32 in 2020 compared to CNY 0.22 in 2019[31]. - The company’s net profit attributable to shareholders for 2020 was CNY 118,950,935.96[158]. - The total share capital as of December 31, 2020, was 403,200,000 shares[158]. - The company achieved a revenue of 1,945.96 million RMB in 2020, representing a growth of 44.28% compared to the previous year[79]. - The company’s net assets attributable to shareholders increased by 23.58% year-on-year, totaling 1,064.54 million RMB[79]. Dividend Policy - The company plans to distribute a cash dividend of CNY 0.80 per 10 shares, totaling CNY 32.26 million, which accounts for 27.12% of the net profit attributable to shareholders for 2020[7]. - The proposed cash dividend for 2020 is CNY 0.8 per 10 shares, totaling CNY 32,256,000, which accounts for 27.12% of the distributable profit[158][160]. - The cash dividend policy emphasizes sustainable development while prioritizing cash dividends when conditions allow[158]. - The company will ensure that any changes in applicable laws and regulations will be automatically adhered to, maintaining compliance with regulatory requirements[177]. - The company will implement a stable dividend distribution policy, ensuring that cash dividends distributed each year will not be less than 10% of the distributable profits achieved that year[180]. Research and Development - The company is committed to increasing its research and development efforts in response to the growing importance of new materials in national strategies for carbon neutrality[14]. - Research and development expenses accounted for 1.55% of operating revenue in 2020, down from 1.89% in 2019[31]. - The company achieved a total R&D investment of ¥30,144,961.10 in 2020, representing an 18.50% increase from ¥25,439,334.81 in the previous year[57]. - The company completed 6 R&D projects in 2020, focusing on improving existing products and developing green, environmentally friendly materials[56]. - The company has obtained a total of 76 authorized patents by the end of 2020, with 11 new patents granted during the year[56]. Market Expansion and Strategy - The company aims to achieve a global market share of at least 25% in the wind turbine blade materials sector and over 25% market share in the high-performance corrosion-resistant materials sector in Asia[13]. - Swancor has set a future outlook with a revenue target of 1.5 billion RMB for 2021, indicating an ambitious growth plan of 25% year-over-year[22]. - The company is actively investing in R&D for new products, particularly in the development of advanced epoxy resins and composite materials aimed at the wind energy sector[22]. - The company is pursuing market expansion strategies, including entering new geographical markets in Southeast Asia, which is expected to contribute an additional 10% to overall revenue[22]. - The company is focused on developing sustainable materials that can be recycled or reused, particularly in the wind turbine blade sector[152]. Operational Efficiency - The company has undergone internal organizational adjustments to improve operational efficiency and resource utilization[13]. - The company is committed to improving operational efficiency and reducing costs through innovative material development and process optimization[66]. - The company has established a stable and efficient procurement management model, ensuring raw material quality and stable supply through annual supplier assessments and market trend predictions[41]. - The company has implemented measures to monitor raw material price trends and strengthen supplier relationships to mitigate risks associated with price fluctuations[134]. - The company plans to enhance its production capacity by improving internal controls and reducing procurement costs, while also accelerating the automation of production lines to lower labor costs[153]. Product Development - The company has developed a comprehensive product line in high-performance industrial anti-corrosion and lightweight composite materials, including safety flame-retardant resins and non-styrene resins[73]. - The company has launched low-styrene and no-styrene vinyl ester resin products to meet the growing demand for low or zero VOC emissions[50]. - The company is focusing on the development of new materials and processes to meet the growing demands of the wind power industry[63]. - The company has developed a thixotropic light-curing resin for special construction environments, enhancing efficiency and safety[50]. - The company is actively applying pultrusion resin in fiberglass pultruded blade materials to enhance lifespan and reduce costs in the wind energy sector[130]. Challenges and Future Outlook - The company remains optimistic about future growth opportunities despite challenges posed by the COVID-19 pandemic[14]. - The company is set to face new challenges and opportunities due to stringent environmental policies, necessitating a well-defined development plan for the next five years[149]. - The company is addressing challenges in the 5G industry by developing high-performance resins with improved thermal degradation temperatures and compatibility with fillers[55]. - The company will strengthen customer relationships and expand market presence by participating in international exhibitions and following the "Belt and Road" initiative to meet diverse customer needs[154]. - The company is committed to continuous innovation in production processes and product applications to ensure environmentally friendly manufacturing practices[150].

Financial Performance - In 2020, the company achieved operating revenue of CNY 1,945.96 million, representing a year-on-year growth of 44.28%[11] - The net profit attributable to shareholders of the listed company for 2020 was CNY 118.95 million, an increase of 51.98% compared to the previous year[11] - The total assets at the end of 2020 reached CNY 1,987,942,246.81, a 47.70% increase from CNY 1,345,971,565.01 at the end of 2019[29] - The company's net assets attributable to shareholders grew by 23.58% to 1,064.54 million RMB[79] - The company reported a significant increase in cash and cash equivalents, rising by 64.04% to ¥246,912,555.33 compared to ¥150,515,692.80 in the previous year[68] - The company achieved a total revenue of CNY 1,945,961,890.85 in 2020, representing a growth of 44.28% compared to the previous year[89] - The net profit attributable to shareholders reached CNY 118,950,900, a year-on-year increase of 51.98%[89] - The company reported a total revenue of 236.66 million RMB for the period, with a share price of 9.82 RMB per share for related party employees and 12.26 RMB per share for third-party investors[198] Dividend Policy - The proposed cash dividend is CNY 0.80 per 10 shares, totaling CNY 32.26 million, which accounts for 27.12% of the net profit attributable to shareholders[6] - The company emphasizes a cash dividend policy, ensuring that at least 10% of the distributable profit is allocated for cash dividends if there are no major investment plans[156] - The cash dividend distribution plan for 2020 is subject to approval at the shareholders' meeting[156] - The company will implement a stable dividend distribution policy, ensuring that cash dividends distributed each year will not be less than 10% of the distributable profits achieved that year[178] - The board of directors will review the dividend return plan every three years based on the profit distribution policy and future profit and cash flow forecasts[182] Research and Development - The company is actively investing in R&D for new products, particularly in the field of epoxy resins, with an allocated budget of 100 million RMB for innovation projects[21] - The company achieved a total R&D investment of ¥30,144,961.10 in 2020, representing an 18.50% increase from ¥25,439,334.81 in the previous year[55] - Research and development expenses accounted for 1.55% of operating revenue in 2020, down from 1.89% in 2019[30] - The company has increased its R&D personnel from 48 to 57, with R&D personnel now accounting for 15.41% of the total workforce[67] - The company completed 6 R&D technology projects in 2020, focusing on improving existing products and developing green, environmentally friendly materials[54] Market Expansion and Strategy - The company aims to achieve a global market share of at least 25% in wind turbine blade materials and over 25% in the high-performance corrosion-resistant materials market in Asia[12] - Swancor is pursuing market expansion strategies, targeting Southeast Asia and Europe, with plans to establish two new distribution centers by the end of 2021[21] - The company is committed to expanding its business in environmentally friendly and safety-related new materials[12] - The company is focusing on the integration of nanomaterials to improve the performance of epoxy resins under high-temperature conditions[49] - The company is targeting the new energy vehicle market with advanced lightweight composite materials that are recyclable and quick to form[149] Product Development and Innovation - The company has developed a series of high-performance resin products, including specialized resins for wind turbine blades, which have been certified by domestic and international manufacturers[71] - The company has launched low-styrene and no-styrene vinyl ester resin products to meet the increasing demand for low or zero VOC emissions[48] - The company is focusing on developing high-performance, cost-effective resins for wind turbine blades, with products capable of meeting the performance requirements for blades ranging from 1.5MW to 6MW[48] - The company has developed low-cost, high-performance resin for wind turbine blades, which is expected to enhance competitiveness and reduce production costs[63] - The company has introduced a new line of flame-retardant vinyl ester resins, which is expected to capture a significant market share in the aerospace sector[21] Operational Efficiency - The company plans to enhance its organizational efficiency by reducing unnecessary processes and reallocating resources[12] - The company has established a stable and efficient procurement management model, ensuring raw material quality and stable supply through annual supplier assessments[40] - The company is focusing on reducing costs and improving product quality in the composite materials wind turbine blade industry, with new pultrusion processes enhancing production efficiency[126] - The company has implemented strategies to monitor raw material market trends and strengthen communication with suppliers to mitigate risks associated with price volatility[131] - The company is committed to providing comprehensive anti-corrosion solutions, including specialized resins for unique construction environments[48] Sustainability and Environmental Commitment - The company is committed to sustainability, with plans to reduce carbon emissions by 20% over the next three years through eco-friendly production processes[21] - The company recognizes the importance of sustainable development and aims to create recyclable thermoplastic resins for wind turbine blades to minimize environmental impact[150] - The company is committed to developing environmentally friendly low-VOC resins to comply with the GB37822-2019 standard, effective from July 1, 2020[149] - The company aims to provide comprehensive corrosion protection solutions, including specialized resins for confined space repairs[141] - The company is focused on aligning its technology development with national policies on carbon emissions and environmental protection[13] Competitive Position and Market Trends - The company ranks among the top producers globally in the epoxy resin market for wind turbine blades, showcasing strong competitive advantages in product variety and R&D capabilities[46] - The demand for synthetic resins in China is expected to grow due to increased investment in environmental protection and the rapid development of the integrated circuit industry[42] - The market for composite materials is expanding, with over 40,000 varieties currently available, driven by the need for high-performance, lightweight materials in various industries[42] - The global vinyl ester resin market is expected to grow at a compound annual growth rate (CAGR) of 3.8% from 2019 to 2024, driven by demand from the pipeline, tank, and chemical industries[137] - The company has developed a high-temperature resistant phenolic vinyl ester resin (977-S) that can withstand temperatures up to 250°C, addressing the needs of industries dealing with high-temperature flue gas treatment[138] Shareholder Relations and Governance - The company will ensure compliance with the Shanghai Stock Exchange regulations regarding share reduction practices[166] - The company commits to adhering to relevant laws and regulations regarding share reduction and will adjust to any new regulatory requirements[166] - The company will implement measures to stabilize stock prices if necessary, particularly within the first three years post-IPO[166] - The company will consider various factors when formulating specific stock repurchase plans, including market conditions and legal regulations[168] - The company will conduct annual profit distributions, with the board of directors proposing distribution plans based on the company's financial needs[179]

Financial Performance - Operating revenue for the first nine months reached CNY 1,311,478,798.75, a growth of 34.37% year-on-year[6] - Net profit attributable to shareholders increased by 46.08% to CNY 102,975,440.51 compared to the same period last year[7] - Basic and diluted earnings per share rose by 50% to CNY 0.27[7] - Total operating revenue for Q3 2020 reached ¥598,042,332.51, a significant increase of 75.3% compared to ¥341,257,688.18 in Q3 2019[27] - Operating profit for Q3 2020 was ¥69,532,643.67, up 132.5% from ¥29,945,469.79 in Q3 2019[28] - Net profit for Q3 2020 was ¥53,823,453.84, representing a 144.5% increase from ¥21,971,094.55 in Q3 2019[29] - The total profit for the first three quarters of 2020 was CNY 59,835,604.05, up from CNY 30,942,321.16 in the same period of 2019, indicating a growth of 93.5%[32] Assets and Liabilities - Total assets increased by 32.39% to CNY 1,781,992,475.31 compared to the end of the previous year[6] - As of September 30, 2020, total current assets amounted to CNY 1,529,883,683.12, an increase of 39.5% compared to CNY 1,096,713,754.54 on December 31, 2019[20] - Total liabilities as of September 30, 2020, were CNY 721,772,198.43, a significant increase of 48.9% from CNY 484,526,450.34 in the previous year[21] - The company's total assets reached CNY 1,781,992,475.31, up from CNY 1,345,971,565.01, indicating a growth of 32.4%[21] - The equity attributable to shareholders increased to CNY 1,060,220,276.88, compared to CNY 861,445,114.67 at the end of 2019, representing a rise of 23.1%[21] Cash Flow - Cash flow from operating activities showed a significant decline of 137.91%, resulting in a net outflow of CNY 36,523,581.42[6] - The cash flow from operating activities for the first three quarters of 2020 was CNY -36,523,581.42, compared to CNY 96,349,433.88 in the same period of 2019, showing a significant decline[35] - The company reported a cash inflow from investment activities of CNY 176,157,713.43 in the first three quarters of 2020, compared to CNY 11,142,936.18 in the same period of 2019[35] - The cash and cash equivalents at the end of Q3 2020 increased to CNY 173,413,785.32 from CNY 135,835,007.43 at the beginning of the period, reflecting a net increase of CNY 37,578,777.89[36] Shareholder Information - The total number of shareholders reached 12,405 by the end of the reporting period[11] - The top ten shareholders held 80.09% of the shares, with the largest shareholder owning 322,910,692 shares[12] - The total number of shares held by the top ten unrestricted shareholders includes significant stakes from SWANCOR Samoa and Strategic Samoa, totaling 322,910,692 shares[13] Research and Development - R&D investment as a percentage of operating revenue decreased by 0.24 percentage points to 1.66%[7] - Research and development expenses for Q3 2020 were ¥8,623,820.80, an increase of 23.7% from ¥6,969,742.75 in Q3 2019[27] - The company is focusing on expanding its market presence and developing new products, as indicated by the increase in R&D expenditures reflected in the growth of intangible assets to CNY 35,561,584.00 from CNY 31,977,931.20[20] Future Plans - The company plans to continue expanding its market presence and investing in new technologies to enhance growth prospects[17] - The company plans to continue investing in new product development and market expansion strategies to enhance future growth prospects[32] - The company reported a significant increase in prepayments, which reached CNY 8,709,751.14, compared to CNY 3,769,207.66 in the previous year, marking a growth of 131.0%[19] - The company plans to continue its strategic initiatives, including potential mergers and acquisitions, to enhance its competitive position in the market[22] Operating Costs - Operating costs increased by 35.98% to RMB 1,055,430,406.7, in line with revenue growth[15] - The total operating costs for Q3 2020 were ¥530,514,974.73, which is a 70.3% increase from ¥311,754,747.86 in Q3 2019[27] - The company’s total operating costs in Q3 2020 were CNY 114,083,665.64, which is an increase of 34.0% from CNY 85,126,825.04 in Q3 2019[31]