证券代码：688585 证券简称：上纬新材 公告编号：2023-023 上纬新材料科技股份有限公司 关于召开 2022 年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 二、 说明会召开的时间、地点 （一） 会议召开时间：2023 年 05 月 24 日 下午 1:00-2:00 （二） 会议召开地点：上海证券交易所上证路演中心 会议召开时间：2023 年 05 月 24 日(星期三) 下午 1:00-2:00 会议召开地点：上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络文字互动 （http://roadshow.sseinfo.com/） （三） 会议召开方式：上证路演中心网络文字互动 三、 参加人员 投资者可于 2023 年 05 月 16 日(星期二) 至 05 月 23 日(星期二)16:00 前登录上 证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 ir@swancor.com.cn 进行 ...

Financial Performance - The company's operating revenue for Q1 2023 was CNY 320,922,706.99, representing a decrease of 34.32% compared to the same period last year[5]. - The net profit attributable to shareholders was CNY 17,736,186.07, down 7.54% year-on-year[5]. - The net profit after deducting non-recurring gains and losses was CNY 16,879,054.23, a decline of 11.83% compared to the previous year[5]. - Basic and diluted earnings per share were both CNY 0.04, reflecting a decrease of 20.00%[5]. - Total operating revenue for Q1 2023 was CNY 320,922,706.99, a decrease of 34.4% compared to CNY 488,638,160.65 in Q1 2022[16]. - Net profit for Q1 2023 was CNY 17,736,186.07, a decline of 7.5% from CNY 19,182,926.34 in Q1 2022[17]. - Basic earnings per share for Q1 2023 was CNY 0.04, unchanged from Q1 2022[17]. - Other comprehensive income after tax for Q1 2023 was CNY -1,960,912.62, an improvement from CNY -5,655,503.61 in Q1 2022[17]. Cash Flow - The net cash flow from operating activities was negative at CNY -23,891,002.69, indicating a significant cash outflow[5]. - In Q1 2023, the cash inflow from operating activities was CNY 236,226,160.17, compared to CNY 231,325,695.98 in Q1 2022, reflecting a slight increase of 2.5%[20]. - The net cash flow from operating activities was negative at CNY -23,891,002.69, an improvement from CNY -65,715,584.71 in the same period last year[20]. - The cash outflow from investing activities totaled CNY -43,551,803.81, compared to CNY -28,378,373.38 in Q1 2022, indicating a significant increase of 53.5%[21]. - The net cash flow from investing activities was CNY -33,529,612.03, worsening from CNY -9,214,647.15 year-over-year[21]. - Cash inflow from financing activities was CNY 8,292,816.43, a decrease of 95% from CNY 164,668,745.14 in Q1 2022[21]. - The net cash flow from financing activities was CNY 1,376,817.11, down from CNY 44,187,465.21 in the previous year[21]. - The total cash and cash equivalents at the end of Q1 2023 stood at CNY 118,645,178.99, a decrease from CNY 120,205,216.03 in Q1 2022[21]. - The company experienced a negative impact of CNY -701,104.91 from exchange rate fluctuations on cash and cash equivalents[21]. - The cash inflow from sales of goods and services was CNY 232,607,903.23, slightly up from CNY 228,017,786.31 in the previous year[20]. - The company reported a decrease in cash received from tax refunds, totaling CNY 2,123,922.30, down from CNY 3,191,035.81 in Q1 2022[20]. Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 1,719,681,954.60, down 5.71% from the end of the previous year[6]. - As of March 31, 2023, the total assets of the company amounted to RMB 1,719,681,954.60, a decrease from RMB 1,823,746,438.64 as of December 31, 2022, reflecting a decline of approximately 5.7%[13]. - The company's current assets totaled RMB 1,228,908,590.92, down from RMB 1,339,360,611.33, indicating a decrease of about 8.3%[14]. - Total liabilities decreased to CNY 557,041,521.95 in Q1 2023 from CNY 677,265,188.60 in Q1 2022, representing a reduction of 17.7%[16]. - The total liabilities of the company were not explicitly stated, but the current liabilities included accounts payable of RMB 188,289,669.36, down from RMB 204,170,170.15, indicating a decrease of about 7.8%[14]. - The company's inventory increased to RMB 124,734,441.21 from RMB 115,291,280.88, marking an increase of about 8.5%[14]. - Long-term equity investments remained relatively stable at RMB 208,363,133.30, slightly down from RMB 208,638,409.88[14]. - Short-term borrowings decreased to RMB 94,456,868.06 from RMB 144,424,900.39, a reduction of approximately 34.6%[14]. - The company reported a significant increase in other current assets, rising to RMB 41,551,010.91 from RMB 7,117,121.19, reflecting a growth of approximately 484%[14]. Research and Development - Research and development (R&D) expenses totaled CNY 7,586,044.39, accounting for 2.36% of operating revenue, an increase of 0.87 percentage points[6]. - The company reported a decrease in research and development expenses to CNY 7,586,044.39 in Q1 2023 from CNY 7,257,972.47 in Q1 2022, indicating a slight increase of 4.5%[16]. Other Information - The decrease in operating revenue was attributed to fluctuations in raw material market prices, which led to reduced selling prices[7]. - The company has not disclosed any new product developments or market expansion strategies in the current report[12]. - The company reported a non-recurring gain of CNY 1,000,000.00 from government subsidies related to technological innovation[7].

Financial Performance - The company's operating revenue for 2022 was ¥1,859,764,725.01, a decrease of 10.27% compared to ¥2,072,589,672.29 in 2021[22]. - Net profit attributable to shareholders increased significantly to ¥84,145,875.44 in 2022, up 569.04% from ¥12,577,116.14 in 2021[22]. - The net cash flow from operating activities was -¥37,583,040.03, showing an improvement from -¥60,548,369.28 in 2021[22]. - Total assets decreased by 6.46% to ¥1,823,746,438.64 at the end of 2022, down from ¥1,949,648,694.77 at the end of 2021[22]. - The basic earnings per share for 2022 was ¥0.21, a 600% increase from ¥0.03 in 2021[23]. - The weighted average return on equity rose to 7.69% in 2022, an increase of 6.50 percentage points from 1.19% in 2021[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥84,758,517.36, a 635.59% increase from ¥11,522,511.85 in 2021[22]. - The company's total liabilities and equity structure indicates a focus on maintaining a healthy balance sheet despite revenue fluctuations[22]. Dividend and Share Capital - The company plans to distribute a cash dividend of 0.22 CNY per 10 shares, totaling 8,870,400 CNY, which represents 10.54% of the distributable profit for 2022[5]. - The total share capital of the company as of December 31, 2022, is 403,200,000 shares[5]. - The company has not disclosed any significant changes in its total share capital due to various corporate actions[5]. Audit and Governance - The company has received a standard unqualified audit report from the accounting firm[5]. - There are no non-operating fund occupations by controlling shareholders or related parties[8]. - The company does not have any special arrangements for corporate governance[8]. - The company has not violated decision-making procedures for external guarantees[8]. - The company emphasizes that forward-looking statements do not constitute a commitment to investors[7]. Research and Development - The company's R&D investment as a percentage of operating revenue increased by 0.16 percentage points to 1.79%[24]. - Research and development (R&D) expenses amounted to ¥33,244,027.39 in 2022, a decrease of 1.69% compared to the previous year[54]. - The total R&D expenditure accounted for 1.79% of the company's revenue, an increase of 0.16% from the previous year[54]. - The company has developed a new low-shrinkage agent production technology that is environmentally friendly and does not produce wastewater[51]. - The company is focusing on the development of high-performance resins for the 5G industry, addressing challenges in material viscosity and thermal degradation[51]. Market and Product Development - The company is actively pursuing new product development and market expansion strategies to enhance its competitive position in the industry[22]. - Future outlook includes a commitment to innovation in resin technology and potential mergers or acquisitions to drive growth[22]. - The company has developed new products such as flame-retardant resins and styrene-free resins to meet changing market demands[44]. - The company has built long-term, stable relationships with key customers in the wind turbine blade production sector, ensuring consistent demand for its materials[43]. - The company is focusing on technological innovation and product upgrades to enhance competitiveness in emerging markets[35]. Environmental and Safety Management - The company has established a comprehensive safety management system, including safety regulations, training, and daily management[186]. - The company strictly adheres to national and local environmental protection laws, with all pollutant discharge indicators meeting relevant regulations[190]. - The company has implemented a waste management strategy, entrusting municipal environmental departments for the collection and treatment of domestic waste[192]. - The company has established emergency response plans for environmental incidents, including communication channels for internal and external information[196]. - The company has obtained discharge permits from relevant environmental authorities for its operations in Shanghai, Jiangsu, and Tianjin[197]. Risk Management - The company has detailed risk factors outlined in the management discussion and analysis section of the report[4]. - The company faced risks related to raw material price fluctuations, which could impact profitability if not managed effectively[74]. - The company has experienced non-normal production stoppages in its Shanghai facility in April and May to comply with government policies[120]. - The company has faced risks related to rapid product updates and potential loss of core technology, which could adversely affect its market position[70]. Corporate Governance and Shareholder Engagement - The company held three shareholder meetings during the reporting period, ensuring compliance with legal regulations and protecting shareholder rights[138]. - The company held a total of 6 board meetings during the reporting period, adhering to legal and regulatory requirements[139]. - The company has designated multiple media outlets for information disclosure, including China Securities Journal and Shanghai Securities News, to ensure equal access to information for all shareholders[140]. - The company actively engages with investors through various channels, including performance briefings and interactive platforms, to address their concerns and suggestions[140]. - The company has implemented a stock incentive plan, which was approved in the annual general meeting held on April 26, 2022[142].

Financial Performance - The company reported a total revenue of 1.2 billion CNY for the first half of 2022, representing a year-on-year increase of 15%[14]. - The company's operating revenue for the first half of 2022 was ¥984,077,177.97, a decrease of 2.37% compared to the same period last year[22]. - The net profit attributable to shareholders was ¥36,510,539.88, a significant turnaround from a loss of ¥2,620,138.47 in the previous year[22]. - The basic earnings per share for the first half of 2022 was ¥0.09, compared to a loss of ¥0.01 per share in the same period last year[23]. - The company achieved a total revenue of 3,925.65 million RMB in the first half of 2022, with a significant portion attributed to new product developments[45]. - The company reported a net profit distribution of CNY -32,256,000.00 during the period, indicating a significant loss in profit allocation[190]. Research and Development - Research and development expenses increased by 25% to 150 million CNY, focusing on advanced composite materials technology[14]. - The research and development expenditure accounted for 1.46% of operating revenue, an increase of 0.06 percentage points compared to the previous year[23]. - The company achieved a total R&D investment of ¥14,410,380.25, representing a 2.17% increase compared to ¥14,104,411.42 in the same period last year[40]. - The company holds a total of 93 authorized patents, with 3 new patents granted in 2022, reflecting ongoing commitment to product improvement and development of green and safe materials[38]. - The company is developing new specialty resins aimed at the 5G industry, addressing the need for materials with high electrical performance and thermal stability[37]. Market and Product Development - User data indicates a growth in active users by 20%, reaching 500,000 users by the end of June 2022[14]. - The company plans to launch two new product lines in Q3 2022, targeting a market expansion of 10% in the renewable energy sector[14]. - The wind turbine blade materials market is expected to continue growing due to the global low-carbon transition, with a focus on high-performance, high-strength, and lightweight materials[31]. - The company is focusing on the development of thermoplastic epoxy resins, which retain epoxy characteristics and improve fiber wetting properties[35]. - The company has established a comprehensive procurement management system to ensure efficient and timely procurement activities[30]. Financial Position and Assets - The company's total assets decreased by 10.68% to ¥1,741,393,251.28 compared to the end of the previous year[22]. - The net assets attributable to shareholders increased by 3.63% to ¥1,091,016,045.81 compared to the end of the previous year[22]. - The company has maintained a strong cash position with 300 million CNY in cash reserves, ensuring liquidity for upcoming projects[14]. - The total balance of guarantees at the end of the reporting period (excluding guarantees for subsidiaries) is 21,578.62 million CNY, which accounts for 19.78% of the company's net assets[140]. Risk Management - The company has identified potential risks including supply chain disruptions and raw material price fluctuations, which could impact future performance[14]. - The company faced significant fluctuations in raw material prices but managed to stabilize product profitability through negotiations with customers[22]. - The company is exposed to safety production risks due to the handling of hazardous chemicals, which could lead to potential accidents and regulatory penalties[59]. - The company faces risks from intensified market competition in the wind blade resin industry, which may lead to price declines and reduced profit margins[60]. Environmental Compliance - The company has complied with environmental regulations, with key pollutants' discharge levels meeting national standards, including ammonia nitrogen at 36.6 mg/L against a limit of 45 mg/L[85]. - The company has implemented a unified collection and treatment system for municipal solid waste[86]. - The company has engaged qualified third-party organizations for the disposal of hazardous waste to ensure compliance with legal requirements[89]. - The company achieved compliance with wastewater, waste gas, and noise emissions standards during the reporting period, with solid waste disposed of legally and in accordance with regulations[89]. Shareholder and Capital Management - The company has approved the 2022 Restricted Stock Incentive Plan, granting 672,726 shares at a price of RMB 4.32 per share to 64 incentive recipients[82]. - The company will implement stock repurchase measures if the stock price falls below the audited net asset value per share for 20 consecutive trading days[104]. - The company commits to strict adherence to its profit distribution policies and plans, reinforcing investor returns[111]. - The company will ensure that any adjustments to the dividend policy are made with consideration of shareholder feedback and regulatory compliance[118].

Financial Performance - The company's operating revenue for Q1 2022 was ¥488,638,160.65, representing a year-on-year increase of 13.68%[5] - The net profit attributable to shareholders of the listed company was ¥19,182,926.34, with a basic earnings per share of ¥0.05[5] - Total operating revenue for Q1 2022 was RMB 488.64 million, an increase of 13.7% compared to RMB 429.82 million in Q1 2021[20] - Net profit for Q1 2022 reached RMB 19.18 million, compared to a net loss of RMB 14.58 million in Q1 2021, marking a significant turnaround[21] - The company reported a comprehensive income total of RMB 13.53 million for Q1 2022, compared to a comprehensive loss of RMB 13.95 million in Q1 2021[21] - Basic and diluted earnings per share for Q1 2022 were RMB 0.05, compared to a loss per share of RMB 0.04 in Q1 2021[21] Cash Flow - The net cash flow from operating activities was -¥65,715,584.71, primarily due to increased customer payments and reduced raw material purchases[9] - Cash flow from operating activities for Q1 2022 was a net outflow of RMB 65.72 million, an improvement from a net outflow of RMB 121.00 million in Q1 2021[23] - Cash flow from investing activities showed a net outflow of RMB 9.21 million in Q1 2022, compared to a net outflow of RMB 28.12 million in Q1 2021[24] - Cash flow from financing activities generated a net inflow of RMB 44.19 million in Q1 2022, compared to RMB 41.14 million in Q1 2021[24] - The company’s cash and cash equivalents at the end of Q1 2022 stood at RMB 120.21 million, an increase from RMB 107.88 million at the end of Q1 2021[24] - The company experienced a foreign exchange impact on cash and cash equivalents of RMB -370,339.98 in Q1 2022[24] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,863,274,661.26, a decrease of 4.43% compared to the end of the previous year[6] - As of March 31, 2022, the company's total assets amounted to RMB 1,863,274,661.26, a decrease from RMB 1,949,648,694.77 at the end of 2021, reflecting a decline of approximately 4.4%[15] - The company's current assets totaled RMB 1,358,338,599.73, down from RMB 1,443,879,282.31, indicating a decrease of about 5.9%[15] - The company's cash and cash equivalents were RMB 160,284,005.53, compared to RMB 186,080,142.79 at the end of 2021, representing a decline of approximately 13.8%[15] - Accounts receivable stood at RMB 576,939,536.77, slightly down from RMB 589,247,984.58, a decrease of about 2.2%[15] - The total liabilities of the company were RMB 794,276,962.46, down from RMB 896,816,203.98, reflecting a decrease of approximately 11.5%[17] - The company's equity attributable to shareholders increased to RMB 1,068,997,698.80 from RMB 1,052,832,490.79, marking an increase of about 1.5%[17] - The company's inventory was reported at RMB 183,358,247.36, a slight increase from RMB 182,087,378.69, indicating a growth of approximately 0.7%[15] - The company reported a decrease in short-term borrowings to RMB 152,249,149.61 from RMB 233,161,802.28, a reduction of about 34.7%[16] - The company's total non-current assets were RMB 504,936,061.53, slightly down from RMB 505,769,412.46, reflecting a decrease of about 0.2%[16] - The company’s retained earnings increased to RMB 275,765,149.77 from RMB 256,582,223.43, an increase of approximately 7.5%[17] Research and Development - The company's R&D investment totaled ¥7,257,972.47, accounting for 1.49% of operating revenue, a decrease of 0.19 percentage points[6] Shareholder Information - The top shareholder, SWANCOR IND. CO., LTD., holds 64.04% of the shares, totaling 258,229,392 shares[12] Future Outlook - The company has not disclosed any future outlook or guidance in this report[4] Audit Status - The financial statements for this quarter have not been audited[4]

Financial Performance - The company reported a significant decline in operating performance due to fluctuations in the prices of key raw materials, particularly epoxy resin, which negatively impacted the gross margin [4]. - The company's operating revenue for 2021 was CNY 2,072,589,672.29, representing a 6.51% increase compared to the previous year [22]. - The net profit attributable to shareholders of the listed company decreased by 89.43% to CNY 12,577,116.14 in 2021 [22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 90.53% to CNY 11,522,511.85 [22]. - The basic earnings per share for 2021 was CNY 0.03, down 90.63% from CNY 0.32 in 2020 [23]. - The weighted average return on equity decreased by 11.41 percentage points to 1.19% in 2021 [23]. - The gross profit margin decreased by 6.92 percentage points to 8.46% compared to the previous year [93]. - The net cash flow from operating activities was negative at CNY -60,548,369.28, compared to CNY -59,366,383.12 in 2020 [22]. Research and Development - Research and development expenses accounted for 1.63% of operating revenue, an increase of 0.08 percentage points from the previous year [23]. - The company completed 9 R&D project initiatives in 2021, focusing on improving existing products and developing green, environmentally friendly, and safe materials [36]. - The company obtained a total of 90 authorized patents by the end of 2021, with 7 new patents granted during the year [36]. - Research and development expenses rose by 12.18% to ¥33,816,087.25, attributed to increased personnel costs and testing fees for new products [89]. - The company is developing new technologies for resin preparation, targeting high-performance materials for wind turbine blades [54]. Market Position and Strategy - The company holds a significant market share in the domestic market for vinyl ester resin products, particularly in the environmental high-performance corrosion-resistant materials sector [43]. - The wind turbine blade materials market is expected to continue growing, driven by the trend towards larger and lighter wind turbine blades, with a focus on high performance and strength [42]. - The company aims to expand its market presence in the new materials sector, particularly in energy-saving and environmental protection applications [38]. - The company is focusing on enhancing brand awareness and marketing effectiveness through the establishment of a business development department [151]. - The company aims to achieve over 25% global market share in wind blade materials, positioning itself as a leader in this sector [148]. Risks and Challenges - The company has detailed potential risks in its management discussion and analysis section, including the impact of raw material price volatility [4]. - The company faces risks related to fluctuations in raw material prices, particularly for epoxy resin, which have negatively impacted gross margins since Q4 2020 [73]. - The company is committed to continuous product development to meet evolving customer demands, which poses a risk if it fails to keep pace with technological advancements [74]. - The company is exposed to risks from fluctuations in raw material prices, particularly for epoxy resin and styrene [76]. Governance and Compliance - The company established a governance structure consisting of the shareholders' meeting, board of directors, supervisory board, and management team, ensuring clear responsibilities and regulatory compliance [153]. - The company adhered to relevant laws and regulations, enhancing governance standards and protecting minority shareholders' rights [154]. - The independent directors fulfilled their responsibilities during the profit distribution proposal review [195]. - The company has not engaged in any significant related party transactions that could affect its operational independence [154]. Future Outlook - Future guidance suggests an expected revenue increase of 20% year-over-year for the next fiscal year [163]. - The company plans to enhance its product mix by increasing the revenue proportion of high-margin products while actively investing in R&D for new markets and applications [150]. - The company is actively pursuing market expansion in offshore wind power, aligning with national policies to promote renewable energy [61]. - The company is exploring partnerships with local firms to accelerate market entry and growth in emerging markets [169].

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].