Financial Performance - The company reported a year-end undistributed profit of RMB 198,093,288.26 as of December 31, 2021[5]. - A cash dividend of RMB 3.00 per 10 shares (including tax) is proposed, totaling RMB 25,810,492.80, which accounts for 247.96% of the net profit attributable to shareholders in 2021[5]. - The total share capital as of December 31, 2021, was 86,034,976 shares[5]. - The company has not yet achieved profitability since its listing[4]. - The company's operating revenue for 2021 was ¥962,240,014.30, a decrease of 62.66% compared to 2020[23]. - The net profit attributable to shareholders was ¥10,409,161.54, down 95.23% from the previous year[23]. - The basic earnings per share decreased by 95.80% to ¥0.15, reflecting the decline in operating revenue and increased R&D expenses[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥17,910,381.66, indicating a significant loss[23]. - The company's net assets increased by 253.13% year-on-year, amounting to ¥1,977,623,952.43[26]. - The company's total assets grew by 52.54% year-on-year, reaching ¥2,287,378,064.25, largely due to the funds raised from the IPO[26]. Research and Development - The company invested 95.23 million yuan in R&D, an increase of 23.29% compared to the previous year, with R&D personnel accounting for 30.93% of total employees[39]. - R&D investment as a percentage of operating revenue rose to 9.90%, an increase of 6.90 percentage points from the previous year[25]. - The company has established multiple technology innovation platforms, including a national enterprise technology center and various provincial research institutes, enhancing its R&D capabilities[74]. - The company has developed high-performance rare earth oxygen storage materials that significantly enhance catalyst performance and thermal stability, addressing high-temperature structural stability challenges[108]. - The company has developed high-temperature, high-surface-area alumina materials that maintain stability after aging at 1,100℃ for 10 hours, significantly enhancing performance[109]. - The company has completed 26 R&D projects, with 19 still ongoing, indicating a strong pipeline of innovation[131]. Market and Sales - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[22]. - The market for exhaust treatment catalysts is expected to grow due to increasing environmental regulations and the demand for cleaner vehicle emissions[46]. - The market size for exhaust treatment catalysts in China is projected to reach 93.8 billion yuan, representing a significant increase of 156% compared to the previous market size under the National V emission standards[87]. - The average price increase of exhaust treatment catalysts is expected to be 105.72% due to the transition to National VI emission standards, leading to a substantial rise in catalyst usage per vehicle[87]. - The company is focusing on expanding its product lines and enhancing its market presence despite the challenges faced in the natural gas vehicle segment[172]. Regulatory and Compliance - The company has outlined potential risks in its management discussion and analysis section, specifically in the "Risk Factors" part[4]. - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report[8]. - The company faced significant risks from regulatory changes in vehicle emissions standards, which could impact product development and sales[153]. - The implementation of National VI emission standards began on July 1, 2020, for light-duty vehicles, with further regulations set to take effect on July 1, 2023[92]. - The Chinese government has emphasized the need for stringent air pollution control measures, with a focus on reducing heavy pollution days and improving air quality as part of its environmental strategy[88]. Production and Operations - The company has implemented new strategies to enhance supply chain efficiency, aiming for a 15% reduction in operational costs[22]. - The production process of catalytic materials involves several stages, including mixing, neutralization, crystallization, and drying, ensuring the final product meets performance requirements[75]. - The company operates within the "C26 Chemical Raw Materials and Chemical Products Manufacturing" industry, specifically in the "Chemical Reagents and Additives Manufacturing" sector[77]. - The company has achieved batch supply of its new generation exhaust treatment catalysts that meet the National VI emission standards to major engine manufacturers, indicating strong customer stickiness[140]. Environmental Impact - The implementation of the National VI emission standards resulted in a reduction of harmful emissions by 42% to 80% compared to National V standards[94]. - The transition to National VI standards has led to a substantial increase in the usage of catalysts, with the number of catalysts per vehicle rising significantly[87]. - The company emphasizes the importance of catalyst performance in meeting stricter emission regulations, which require advanced technology and materials[46]. Financial Strategy - The company raised approximately RMB 215 million through the issuance of 21,508,744 shares during its IPO on October 22, 2021[165]. - The company reported a significant increase in capital reserve, rising by 459.38% to 1,687.32 million from 301.64 million[198]. - The company’s investment activities generated a net cash outflow of ¥478,702,743.65, primarily due to investments in structured financial products[163]. - The company’s fixed asset impairment provision was ¥2,321.96 million, indicating ongoing pressure from regulatory compliance and technological upgrades[151]. Product Development - New product development includes the launch of a fuel cell technology that is expected to enhance efficiency by 30%[14]. - The company is developing platinum-carbon catalysts for hydrogen fuel cells, with kilogram-level production capacity expected to be established in 2022[139]. - The company has successfully developed a second-generation catalyst for natural gas vehicles, which has been validated by customers and third-party tests[129].

Financial Performance - The company's operating revenue for Q1 2022 was ¥96,166,056.69, representing a decrease of 68.16% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥10,789,471.89, a decline of 211.43% year-over-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥19,280,452.63, reflecting a decrease of 360.05%[5]. - The net cash flow from operating activities was -¥21,323,327.11, down 110.28% from the previous year[5]. - Basic and diluted earnings per share were both -¥0.13, a decrease of 186.67% compared to the previous year[6]. - Total revenue for Q1 2022 was CNY 96,166,056.69, a decrease of 68.15% compared to CNY 302,047,980.75 in Q1 2021[24]. - Net profit for Q1 2022 was a loss of CNY 11,008,221.97, compared to a profit of CNY 9,479,048.21 in Q1 2021, indicating a significant decline[25]. - The total comprehensive income for the first quarter of 2022 was -11,008,221.97 RMB, compared to 9,479,048.21 RMB in the same period of 2021[26]. - The company reported a gross profit margin of -25.51% for Q1 2022, compared to a positive margin in Q1 2021[24]. - The cash flow from operating activities decreased by approximately 72% compared to the previous year[28]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,275,502,408.39, a decrease of 0.52% from the end of the previous year[6]. - The company's total assets as of March 31, 2022, were CNY 2,275,502,408.39, slightly down from CNY 2,287,378,064.25 at the end of 2021[22]. - Current assets totaled CNY 1,915,596,462.24, a decrease from CNY 1,952,498,740.04 at the end of 2021, representing a decline of 1.89%[21]. - Current liabilities increased to CNY 238,105,837.24 from CNY 234,258,127.50, showing a rise of 1.19%[22]. - The total equity attributable to shareholders decreased to CNY 1,966,834,480.54 from CNY 1,977,623,952.43, a decline of 0.86%[22]. - The company's cash and cash equivalents decreased to CNY 655,010,355.30 from CNY 848,227,912.56, a decline of 22.83%[21]. - Total cash and cash equivalents at the end of the period were 653,009,535.49 RMB, down from 82,207,326.46 RMB at the end of Q1 2021[29]. Research and Development - Research and development expenses totaled ¥20,471,585.98, accounting for 21.29% of operating revenue, an increase of 14.05 percentage points[6]. - Research and development expenses for Q1 2022 were CNY 19,468,213.64, slightly down from CNY 20,398,580.93 in Q1 2021[25]. - The company’s subsidiary, Chengdu Zhongzi Guangming Catalytic Technology Co., has been recognized for its product development capabilities, enhancing its competitiveness in the passenger vehicle catalyst market[16]. Market and Sales Performance - The decline in operating revenue was primarily due to the impact of the COVID-19 pandemic and rising energy prices, leading to a significant drop in commercial vehicle sales[9]. - The sales revenue from natural gas products decreased by 85.35% year-over-year, while gasoline vehicle products saw a decline of 50.04% due to chip shortages and reduced end demand[10]. - Cash inflow from sales of goods and services was 99,462,307.17 RMB, down from 370,825,711.15 RMB year-over-year[27]. Investments and Projects - The company successfully won a bid for catalyst products for several models from Chongqing Changan Automobile Co., which is expected to positively impact future operating performance and market share[16]. - The company participated in a project that won the Tianjin Science and Technology Progress Award for key technology research and industrialization applications related to National VI standard diesel vehicle emissions[17]. - The company’s project "Intelligent Manufacturing Industrial Park for Automotive After-treatment Devices" in Changchun has experienced delays due to the pandemic, but efforts are being made to resume construction[17]. Shareholder Information - The company reported a total of 3,027,618 shares held by Chengdu Luxin Jingrong Equity Investment Fund Management Co., with a percentage of 3.52%[13]. - The company’s top ten shareholders include significant holdings from various investment funds, with the largest being China Industrial Bank Co., holding 1,412,542 shares[14]. - The company has a total of 2,039,492 shares allocated to the asset management plan under Shenwan Hongyuan Securities, which is involved in the strategic placement of shares[14].

Financial Performance - The company reported a year-end undistributed profit of RMB 198,093,288.26 as of December 31, 2021[5]. - A cash dividend of RMB 3.00 per 10 shares (including tax) is proposed, totaling RMB 25,810,492.80, which accounts for 247.96% of the net profit attributable to shareholders in 2021[5]. - The total share capital as of December 31, 2021, was 86,034,976 shares[5]. - The company has not achieved profitability since its listing[4]. - In 2021, the company's operating revenue was CNY 962,240,014.30, a decrease of 62.66% compared to CNY 2,577,294,090.68 in 2020[23]. - The net profit attributable to shareholders was CNY 10,409,161.54, down 95.23% from CNY 218,351,941.03 in the previous year[23]. - The company reported a net loss of CNY 17,910,381.66 after deducting non-recurring gains and losses, compared to a profit of CNY 229,202,786.44 in 2020[23]. - The company's gross profit margin decreased from 18.71% in 2019 to 15.14% in 2021, indicating a risk of further decline due to pricing pressures from downstream customers and volatility in precious metal prices[144]. - The company's operating revenue for the reporting period was 96,224.00 million yuan, a decrease of 62.66% year-on-year, and the net profit attributable to shareholders was 1,040.92 million yuan, down 95.23% year-on-year[136]. Risk Management - The company has outlined potential risks in its management discussion and analysis section, specifically in the "Risk Factors" part[4]. - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report[8]. - The company is facing risks related to the significant decline in domestic natural gas heavy truck sales, which fell by 58% year-on-year in 2021[136]. - The company is at risk of not meeting future emission standards if it fails to innovate and develop cost-effective products, which could adversely affect its competitive position[137]. - The company has a high reliance on platinum group metals, which constitute a significant portion of its cost structure, and their prices are subject to volatility, impacting operational performance[141]. - The company is exposed to risks from changes in emission regulations, which can impact the timing and sales of its catalyst products[148]. Research and Development - The company is investing 100 million RMB in R&D for new catalytic materials, aiming to improve product performance by 20%[14]. - R&D investment reached 95.23 million yuan, an increase of 23.29% year-on-year, with R&D personnel accounting for 30.93% of total employees[39]. - The company has established multiple technology innovation platforms, including a national enterprise technology center and various provincial research institutes, to enhance its R&D capabilities[69]. - The company has applied for a total of 152 patents, including 105 domestic invention patents, and has received 62 domestic invention patent authorizations[113]. - The company has achieved significant technological advancements, including the development of a platinum-carbon catalyst for hydrogen fuel cells, with kilogram-level production capacity expected by 2023[134]. - The company is focusing on research and development in new catalyst materials, including rare earth and transition metal oxides[197]. - The company has reported a significant investment in R&D to support its growth and technological advancements[197]. Market Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 30% market share by 2025[15]. - A strategic acquisition of a local competitor is anticipated to be finalized by Q3 2022, which is expected to increase market penetration by 15%[15]. - The company is exploring new strategies for market expansion and potential acquisitions to strengthen its market position[199]. - The company is committed to innovation in its product offerings, particularly in the automotive catalyst sector[197]. Product Development - New product development includes the launch of a fuel cell technology that is expected to enhance efficiency by 25%[14]. - The company has developed a second-generation natural gas catalyst product that meets National VI b emission standards, achieving over 20% reduction in performance compared to the first generation, and is currently in mass production with major manufacturers[125]. - The company has developed advanced rare earth oxygen storage materials that significantly enhance catalyst performance, maintaining stability at high temperatures[104]. - The company is currently constructing additional capacity for diesel vehicle catalysts, expected to be completed by November 2023, with an investment of 2,935.15 million RMB[200]. Environmental Compliance - The company has implemented ISO14001 and ISO45001 standards to enhance its environmental and occupational health management systems[14]. - The company is actively involved in national key R&D projects, focusing on high-performance fuel cell catalysts, with plans for kilogram-level production capacity by 2023[37]. - The company is preparing for the acceptance of several projects, indicating progress towards achieving design goals and meeting international standards[125]. - The company has established emission testing capabilities for hybrid vehicles, with a total investment of 279.40 million and 12.29 million invested this period[124]. Sales and Revenue - The sales volume of natural gas vehicles significantly declined, impacting overall revenue, while diesel and gasoline vehicle product lines continued to grow[37]. - Sales revenue from natural gas vehicle products was ¥415,071,653.76, down 80.93% year-on-year, while sales from diesel vehicle products increased by 44.60% to ¥219,454,419.68 due to the implementation of the National VI emission standards[154]. - The production and sales volume of natural gas vehicles decreased by 81.77% and 79.27% respectively, indicating a significant reduction in market demand[168]. - The company’s total equity increased by 33.33% to 86,034,976.00 following its IPO on October 22, 2021[187]. Supply Chain Management - The company employs a "make-to-order" procurement model, ensuring stable supply of raw materials like precious metals and rare earth materials through long-term partnerships with multiple suppliers[62]. - The company maintains a strict supplier management system, adhering to ISO/IATF16949 quality management standards[62]. - The top five customers contributed 63,854.70 million RMB, accounting for 66.36% of the total annual sales[176]. - The top five suppliers accounted for 64,847.65 million RMB, representing 83.92% of the total annual purchases[177].

证券代码：688737 证券简称：中自科技 中自环保科技股份有限公司 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： 2021 年第三季度报告 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 | 项目 | 本报告期 | 本报告期比 | 年初至报告期末 | 年初至报告期 | | --- | --- | --- | --- | --- | | | | 上年同期增 | | 末比上年同期 | | | | 减变动幅度 | | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 114,795,545.86 | -82.71 | 739,609,5 ...