证券代码：000920 证券简称：沃顿科技 沃顿科技股份有限公司投资者关系活动记录表 编号：202104 | --- | --- | --- | |-------------------|-------------------------------|----------------------------------------------------------| | | | | | | | | | 投资者关 | ☑ 特定对象调研 | □ 分析师会议 | | 系活动类 | □ 媒体采访 | □ 业绩说明会 | | 别 | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | □ 其他 | | | 参与单 | 华安证券股份有限公司 | | | 位名称 | | | | 时间 | 2021 年 12 月 21 日 | | | 地点 | 公司会议室 | | | 上市公司 | 证券事务代表 宋伟女士 | | | 接待人员 姓名 | | | | | 1. 公司主要膜产品 | | | | | | | | | 公司膜产品包括复合反渗透膜、纳滤膜、超滤膜等，按使用场景 | | | 分为家用膜、工业膜两 ...

重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、 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。 2.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) 声明：保证季度报告中财务信息的真实、准确、完整。 3.第三季度报告是否经过审计 □是 √否 1 沃顿科技股份有限公司 2022 年第三季度报告 | 证券代码：000920 | 证券简称：沃顿科技 | 公告编号：2022-063 | | --- | --- | --- | | 债券代码：112698 | 债券简称：18 南方 01 | | 沃顿科技股份有限公司 2022 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 沃顿科技股份有限公司 2022 年第三季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 √否 | | 本报告期 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比上 | | --- | --- | --- | --- | --- | ...

Financial Performance - The company's operating revenue for the first half of 2022 was ¥624,566,396.15, a decrease of 8.87% compared to ¥685,342,788.31 in the same period last year[19]. - Net profit attributable to shareholders increased by 6.18% to ¥63,207,843.84 from ¥59,528,749.59 year-on-year[19]. - The net profit after deducting non-recurring gains and losses rose by 16.96% to ¥58,538,015.91 compared to ¥50,048,054.58 in the previous year[19]. - The net cash flow from operating activities decreased by 18.46% to ¥115,266,478.27 from ¥141,357,884.10 in the same period last year[19]. - Basic and diluted earnings per share increased by 6.38% to ¥0.150 from ¥0.141 year-on-year[19]. - Total assets at the end of the reporting period were ¥2,399,673,633.74, down 2.32% from ¥2,456,718,831.48 at the end of the previous year[19]. - Net assets attributable to shareholders increased by 1.58% to ¥1,296,621,069.71 from ¥1,276,392,407.21 at the end of the previous year[19]. - The company's total sales revenue for the first half of 2022 was 624,566,396.15 CNY, a decrease of 8.87% compared to the same period last year[53]. - The sales revenue from membrane products reached 372,178,419.80 CNY, accounting for 59.59% of total revenue, with a year-on-year growth of 0.99%[56]. - The company reported a significant reduction in financial expenses by 73.27% due to decreased exchange losses[54]. - The gross profit margin for the other chemical manufacturing sector was 38.89%, showing a decrease of 2.45% compared to the previous year[57]. Market and Industry Trends - The membrane separation technology industry is experiencing significant growth due to increasing global water resource shortages and environmental issues, positioning it as a mainstream solution for industrial water resource utilization and pollution control[27]. - Domestic membrane technology and manufacturing capabilities have significantly improved, with the market for domestic brands expanding and gaining recognition, indicating a shift from growth to maturity in the membrane industry[28]. - The demand for industrial membranes is closely linked to the national economic performance and fixed asset investment, with increased demand during economic growth and decreased demand during economic downturns[28]. - The implementation of new water efficiency standards in July 2022 is expected to drive demand for high-performance and water-saving household membranes, enhancing market competitiveness for high-tech enterprises[30]. Research and Development - The company continues to focus on research and development of new products and technologies to enhance market competitiveness[26]. - The company specializes in the research, manufacturing, and sales of reverse osmosis membranes, nanofiltration membranes, and ultrafiltration membranes, catering to various applications including household, commercial, and industrial uses[31]. - The company has developed over 100 specifications across more than 20 series of membrane products, focusing on selective separation of salt and materials for various industries[32]. - Research and development investment increased by 6.28% to 39,236,500.84 CNY compared to the previous year[55]. - The company focuses on the research and production of composite reverse osmosis membranes, nanofiltration membranes, and ultrafiltration membranes, providing suitable membrane components for downstream water purification and resource recycling industries[36]. Risk Management - The management discussed potential risks and countermeasures in the report, highlighting the importance of risk management[4]. - The company faced risks related to overseas trade due to ongoing global pandemic impacts and geopolitical uncertainties affecting export operations[75]. - The company will closely monitor changes in overseas market conditions and adjust sales policies accordingly to enhance risk prevention capabilities[76]. - The company will establish a risk management mechanism for the conversion of R&D results to address potential failures in commercialization[77]. - The company will develop alternative supplier channels and maintain a safety buffer inventory for raw materials to mitigate risks from global inflation and supply chain disruptions[78]. Sales and Distribution - The company has established a dynamic production model based on sales feedback, allowing for monthly, weekly, and daily production planning to meet customer demands and ensure timely order delivery[36]. - The company has a comprehensive sales network covering most countries and regions globally, utilizing a "direct sales + distribution" model to enhance customer engagement and service[37]. - Daziran employs a mixed sales model combining distributor sales, online sales, and group sales, supported by nearly a thousand retail stores and e-commerce platforms[40]. Corporate Governance - The company has not implemented any equity incentive plans, employee stock ownership plans, or other employee incentive measures during the reporting period[87]. - The seventh board of directors and supervisory board members were elected on February 25, 2022, with key members including Mr. Cai Zhiqi and Mr. Jin Yan[113]. - The total number of ordinary shareholders at the end of the reporting period was 28,742, with no preferred shareholders[119]. - Major shareholder, CRRC Industry Investment Co., Ltd., holds 42.64% of the shares, totaling 179,940,000 shares[119]. Financial Position - The current ratio decreased to 127.81% from 168.75%, a decline of 40.94% compared to the end of the previous year[137]. - Total liabilities decreased to ¥979.48 million from ¥1,060.00 million, a reduction of ¥80.52 million[144]. - The company's total equity increased to ¥1,420.19 million from ¥1,396.72 million, an increase of ¥23.47 million[144]. - The inventory increased to ¥205.56 million from ¥159.83 million, an increase of 28.69%[142]. - The company maintained a loan repayment rate of 100% and an interest payment rate of 100%[137]. Future Outlook - The company plans to increase product innovation and develop a diverse product portfolio to maintain competitive advantages amid intensifying industry competition[76]. - The company plans to continue its market expansion and product development strategies to improve future performance[171]. - Future outlook indicates a focus on technological advancements and market expansion, with an emphasis on enhancing user data analytics capabilities[167]. - The company plans to explore potential mergers and acquisitions to bolster its competitive position in the market, although no specific targets have been disclosed[167].

Financial Performance - The company's operating revenue for 2021 was CNY 1,380,819,408.88, representing a 10.10% increase compared to CNY 1,254,114,952.97 in 2020[19] - The net profit attributable to shareholders for 2021 was CNY 121,381,996.33, which is a 14.56% increase from CNY 105,952,076.51 in the previous year[19] - The net cash flow from operating activities increased by 30.99% to CNY 236,324,961.06 in 2021, up from CNY 180,419,146.39 in 2020[19] - Basic earnings per share for 2021 were CNY 0.29, reflecting a 16.00% increase from CNY 0.25 in 2020[19] - The total operating cash inflow for 2021 was 1,460,053,415.06, up 23.72% from 2020[81] - The total operating cash outflow for 2021 was 1,223,728,454.00, an increase of 22.41% from 2020[81] - The operating profit for 2021 was CNY 15,102,980, reflecting a growth of 10.42% year-on-year[58] - The sales revenue of the membrane product segment increased by 18.80% year-on-year, amounting to 756.22 million yuan[55] - The sales revenue of the reclaimed water reuse segment grew by 37.54% compared to the previous year, enhancing brand effect[56] Assets and Liabilities - The total assets at the end of 2021 were CNY 2,456,718,831.48, a decrease of 2.56% from CNY 2,521,275,674.71 at the end of 2020[20] - The net assets attributable to shareholders increased by 4.88% to CNY 1,276,392,407.21 at the end of 2021, compared to CNY 1,217,026,315.44 at the end of 2020[20] - The company's monetary funds at the end of 2021 amounted to 648,486,122.15, representing 26.40% of total assets[85] - The long-term equity investment increased to 86,315,570.20, accounting for 3.51% of total assets, up 2.90% from the beginning of the year[85] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 1.01 per 10 shares, totaling CNY 42,200,000 based on 422,000,000 shares[5] - The total cash dividend amount for the year was 42,622,000 CNY, representing 100% of the total profit distribution[153] - The company's available distributable profit at the end of the year was 566,351,399.91 CNY[154] Research and Development - The company achieved a research and development expenditure of 85.79 million yuan, an increase of 15.91% compared to the previous year, and holds a total of 126 valid patents, including 58 invention patents[47] - The company plans to continue R&D on composite reverse osmosis membranes, aiming to achieve new product industrialization and enhance market competitiveness[79] - The company is investing in R&D, allocating approximately 5 million for new technology development in the next fiscal year[125] Market Position and Strategy - The company is positioned as a domestic leader and internationally advanced in the membrane separation technology industry, with a focus on high-performance reverse osmosis and nanofiltration membranes[31] - The company anticipates increased market demand for household water purification solutions, particularly in lower-tier cities and rural areas, driven by rising awareness of drinking water safety[32] - The company aims to capitalize on favorable policies promoting water resource protection and wastewater recycling, which will drive growth in the membrane separation technology market[32] - The company is focused on expanding its market presence through innovative product development and strategic partnerships in the water treatment sector[36] - The company is actively developing new products and technologies, with a focus on polymer materials, which are expected to enhance competitive advantage[121] Supply Chain and Production - The company has a robust supply chain, with upstream dependencies on chemical raw materials and equipment, which significantly impact production costs[36] - The company has established a comprehensive production process for membrane preparation, including the use of polysulfone and other additives[36] - The company is actively expanding its production capacity with the ongoing construction of the third phase of the Shawan Industrial Park, optimizing production processes to support growth[56] Risk Management - The company has identified potential risks in its operations and outlined measures to address these risks in its future outlook[5] - The company faces risks from global economic uncertainties, inflation, and increased competition in the industry[105] - The company is actively involved in risk assessment and management, ensuring financial stability[135] Corporate Governance - The company held 22 board meetings during the reporting period, discussing key financial reports and strategic decisions[135] - The board of directors has been stable, with no significant changes in personnel during the reporting period[131] - The company has a structured decision-making process for executive remuneration based on performance metrics[132] Social Responsibility - The company actively engages in social responsibility initiatives and supports local economic development[168] - The company plans to donate a total of 800,000 RMB to Linjiatian Village for cattle breeding and mushroom cultivation projects over two years[172] - The company has committed to fulfilling its social responsibilities and supporting rural revitalization efforts[174] Compliance and Internal Control - The internal control system was effectively implemented, ensuring compliance with laws and regulations, and safeguarding shareholder interests[156] - There were no significant internal control deficiencies identified during the reporting period[157] - The company reported zero significant defects in financial reporting for 2021[162] Future Outlook - Future guidance suggests a projected revenue increase of 20% for the upcoming fiscal year, reflecting confidence in market expansion strategies[120] - The company plans to enhance its membrane business and expand its product line while optimizing its supply chain and sales channels[104] - The company intends to enhance its brand image and market competitiveness through increased marketing efforts and improved product quality standards[107]

Revenue and Profitability - Revenue for Q1 2022 was ¥313,141,167.81, a decrease of 0.66% compared to ¥315,224,055.11 in the same period last year[4] - Net profit attributable to shareholders increased by 101.23% to ¥20,342,006.15 from ¥10,108,977.02 year-on-year[4] - Basic and diluted earnings per share rose by 100.83% to ¥0.0482 from ¥0.0240 in the same period last year[4] - The net profit for Q1 2022 was CNY 21,259,968.34, a significant increase from CNY 10,976,484.53 in the same period last year, representing a growth of approximately 94.5%[19] - The total operating profit of CNY 21,650,730.34, an increase from CNY 13,904,640.63 year-over-year, marking a growth of approximately 55.5%[19] - The total comprehensive income for the period was CNY 14,081,924.43, compared to a loss of CNY 331,214.02 in the same quarter last year[20] Cash Flow and Financial Position - Net cash flow from operating activities was negative at -¥2,405,369.25, a decline of 110.02% compared to ¥23,994,817.62 in the previous year[9] - Cash flow from financing activities increased significantly by 1004.86% to ¥8,360,951.39 from -¥924,000.00 in the previous year[9] - The cash flow from operating activities showed a net outflow of CNY 2,405,369.25, a decline from a net inflow of CNY 23,994,817.62 in the previous year[23] - The cash flow from investing activities resulted in a net outflow of CNY 26,683,875.31, compared to a net outflow of CNY 19,293,190.34 in the previous year[23] - The cash flow from financing activities generated a net inflow of CNY 8,360,951.39, compared to a net outflow of CNY 924,000.00 in the same quarter last year[23] Assets and Liabilities - Total assets decreased by 1.57% to ¥2,418,214,711.11 from ¥2,456,718,831.48 at the end of the previous year[5] - Total liabilities decreased to RMB 1,007,182,389.02 from RMB 1,060,000,313.82, a reduction of about 5%[16] - The company's cash and cash equivalents decreased to RMB 594,279,885.74 from RMB 648,486,122.15 at the beginning of the year, a decline of approximately 8.3%[14] - Total assets decreased to RMB 2,418,214,711.11 from RMB 2,456,718,831.48, a decline of approximately 1.6%[15] Shareholder Equity and Investments - Shareholders' equity attributable to shareholders increased by 1.05% to ¥1,289,788,249.45 from ¥1,276,392,407.21 at the end of the previous year[5] - The company reported a net loss from investments of RMB 214,282.17, compared to a gain of RMB 783,083.54 in the previous year[18] - The company’s retained earnings increased to RMB 762,760,142.89 from RMB 742,209,444.74, reflecting a growth of approximately 2.4%[16] Operational Performance - Total operating revenue for Q1 2022 was RMB 313,141,167.81, a decrease of 0.34% from RMB 315,224,055.11 in the same period last year[18] - Total operating costs for Q1 2022 were RMB 294,996,356.07, down 2.93% from RMB 303,922,165.45 in the previous year[18] - Research and development expenses increased to RMB 20,689,496.37, up from RMB 19,289,256.39, reflecting a focus on innovation[18] - Accounts receivable increased by 102.82% to ¥48,931,827.98 from ¥24,125,420.72 due to increased customer credit amid the pandemic[8] - Inventory increased to RMB 190,509,046.41 from RMB 159,828,705.67, representing an increase of 19.2%[15] - Accounts receivable rose to RMB 48,931,827.98, compared to RMB 24,125,420.72 at the start of the year, indicating a significant increase of 102.4%[14] - The company received government subsidies amounting to ¥4,301,735.60, an increase of 47.76% compared to ¥2,911,226.55 in the previous year[8] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 29,384[10] - The other comprehensive income after tax was a loss of CNY 7,178,043.91, compared to a loss of CNY 11,307,698.55 in the same period last year, showing an improvement[19]

沃顿科技股份有限公司 2021 年第三季度报告 | 证券代码：000920 | 证券简称：沃顿科技 | 公告编号：2021-078 | | --- | --- | --- | | 债券代码：112538 | 债券简称：17 | 汇通 01 | | 债券代码：112698 | 债券简称：18 | 南方 01 | 沃顿科技股份有限公司 2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、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。 2.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)声 明：保证季度报告中财务信息的真实、准确、完整。 3.第三季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 1 沃顿科技股份有限公司 2021 年第三季度报告 | 总资产（元） | 2,383,174,030.55 | 2,521,275, ...

Financial Performance - The company's operating revenue for the first half of 2021 was ¥685,342,788.31, representing a 50.92% increase compared to ¥454,109,203.72 in the same period last year[20]. - The net profit attributable to shareholders was ¥59,528,749.59, which is a 115.28% increase from ¥27,651,752.91 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was ¥50,048,054.58, up 121.14% from ¥22,631,725.09 in the same period last year[20]. - The net cash flow from operating activities increased by 26.42% to ¥141,357,884.10, compared to ¥111,814,262.27 in the previous year[20]. - Basic earnings per share rose to ¥0.141, a 113.64% increase from ¥0.066 in the same period last year[21]. - The company achieved a total operating revenue of 685.34 million yuan, representing a year-on-year increase of 50.92%[34]. - The net profit attributable to shareholders reached 59.53 million yuan, up 115.28% compared to the same period last year[34]. - The company reported a net increase in cash flow from operating activities, indicating improved operational efficiency[20]. - The company’s cash flow from operating activities increased by 26.42% to 141,357,884.10 CNY[44]. - The company reported a gross margin of 41.34% for the other chemical manufacturing sector, which decreased by 0.15% compared to the previous year[47]. Business Segments - The membrane business generated total revenue of 369.46 million yuan, an increase of 38.19% year-on-year, with a net profit of 73.64 million yuan, up 63.89%[36]. - The plant fiber business is experiencing increased competition due to the entry of both domestic and international players, with rising raw material costs impacting profitability[36]. - The revenue from the palm fiber business was 22,189.73 CNY million, up 63.90% from the same period last year[38]. - The membrane separation business generated revenue of 6,102.65 CNY million, reflecting a 32.12% increase year-on-year[38]. - Revenue from the other chemical manufacturing sector was ¥368,544,479.03, accounting for 53.78% of total revenue, with a year-on-year growth of 37.85%[46]. - Revenue from the plant fiber products manufacturing sector increased by 55.61% to ¥209,074,525.54, representing 30.51% of total revenue[46]. - The membrane separation segment generated ¥61,026,499.65, a 32.12% increase year-on-year, accounting for 8.90% of total revenue[46]. Strategic Initiatives - The company is focusing on the development of seawater desalination membranes and high-flow reverse osmosis membranes, with significant upgrades across its product lines[36]. - The company has strengthened its market channel layout and product structure to capture the growing demand for high-flow household membranes[36]. - The company is actively pursuing market expansion in new industries such as food, brewing, and pharmaceuticals through its membrane technology[38]. - The company plans to enhance market research, diversify product offerings, and improve cost control to mitigate risks[66][68]. - The company will focus on high-end product development and expand its market presence in second and third-tier cities[68]. - The company plans to expand its market presence and invest in new product development to drive future growth[172]. - The company has initiated a new strategy focusing on technological innovation and market expansion to enhance competitiveness[172]. Financial Position - The total assets at the end of the reporting period were ¥2,477,744,359.20, a decrease of 1.73% from ¥2,521,275,674.71 at the end of the previous year[21]. - The net assets attributable to shareholders increased by 2.17% to ¥1,243,482,991.85, compared to ¥1,217,026,315.44 at the end of the previous year[21]. - The company's total assets as of June 30, 2021, were ¥2,477,744,359.20, compared to ¥2,521,275,674.71 at the end of 2020, indicating a slight decrease[149]. - The total liabilities decreased to ¥1,060,499,564.87 from ¥1,122,601,024.56, a reduction of approximately 5.5%[149]. - The company's total equity increased to ¥1,417,244,794.33 from ¥1,398,674,650.15, a growth of 1.3%[149]. - The total liabilities at the end of the reporting period were 126.3 million yuan, which is a slight increase from 126.1 million yuan in the previous period[173]. - The total liabilities at the end of the reporting period were 476 million, showing a slight increase from 473 million[177]. Risk Management - The management discussed potential risks and countermeasures in the business environment, highlighting the importance of strategic planning[5]. - The company faces risks from low investment project returns, geopolitical uncertainties, and increased competition leading to potential profit margin compression[65][66]. - The company has implemented comprehensive pandemic prevention measures, ensuring zero infections in the village through extensive community engagement and resource allocation[84]. Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares[6]. - There were changes in senior management, including the appointment of a new deputy general manager and the resignation of several board members[73]. - The company does not plan to distribute cash dividends or issue new shares from capital reserves for the half-year period[74]. - The company has no stock incentive plans or employee shareholding plans in the reporting period[75]. - The company has not reported any significant litigation or arbitration matters during the reporting period, indicating a stable legal standing[94]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period, reflecting financial integrity[89]. - The company has not engaged in any major related party transactions, ensuring transparency and compliance with regulations[95]. Social Responsibility - The company actively participated in poverty alleviation efforts, focusing on education, healthcare, housing, and drinking water, ensuring 100% medical insurance coverage for impoverished households[82]. - The company organized social support for 15 impoverished students, providing a total of 30,000 yuan in assistance[83]. - The company has established a grid management system to ensure that no impoverished household is overlooked in the poverty alleviation efforts[83]. - The company has successfully resolved over 21 disputes in the first half of the year, providing legal support for poverty alleviation initiatives[83]. - The company has implemented comprehensive monitoring system for poverty alleviation, ensuring that all 139 impoverished households have children enrolled in school and that housing and drinking water safety are guaranteed[82]. Research and Development - Research and development investment increased by 44.30% to 36,918,129.94 CNY in the reporting period[44]. - The company has a total of 267 patents, including 64 invention patents, enhancing its competitive edge in the market[40]. Financial Reporting - The semi-annual financial report has not been audited, which may impact the reliability of the financial data presented[91]. - The financial statements are prepared based on the assumption of going concern, with no significant doubts regarding the company's ability to continue operations for the next 12 months[188]. - The company adheres to the accounting standards for enterprises, ensuring that the financial statements accurately reflect its financial position and operating results[190].

Financial Performance - The company's revenue for Q1 2021 was ¥315,224,055.11, representing a 106.19% increase compared to ¥152,881,572.72 in the same period last year[8]. - The net profit attributable to shareholders was ¥10,108,977.02, a significant turnaround from a loss of ¥2,518,006.44 in the previous year, marking a 501.47% increase[8]. - The net profit after deducting non-recurring gains and losses was ¥6,689,540.98, compared to a loss of ¥4,733,045.55 last year, reflecting a 241.34% improvement[8]. - The basic earnings per share increased to ¥0.0240 from a loss of ¥0.0060, representing a 500.00% increase[8]. - The weighted average return on equity improved to 0.85% from -0.23%, an increase of 1.08 percentage points[8]. - Net profit reached CNY 10,976,484.53, a significant increase of 373.88% from a net loss of CNY 4,007,773.80 in the previous period[18]. - The company reported a net profit of CNY 10,976,484.53, a significant recovery from a net loss of CNY 4,007,773.80 in the previous period, indicating a turnaround in performance[49]. - The company recorded an investment income of CNY 90,422,975.06, a significant increase from a loss of CNY -795,016.52 in the previous period, indicating improved investment performance[54]. - The company reported a total profit of CNY 15,917,686.48, recovering from a loss of CNY -2,544,549.56 in the previous period, indicating a strong operational performance[49]. Cash Flow - The net cash flow from operating activities was ¥23,994,817.62, down 56.27% from ¥54,868,564.69 in the previous year[8]. - The company's cash flow from operating activities decreased by 56.27% to CNY 23,994,817.62, attributed to increased cash payments for goods and services[18]. - The net cash flow from operating activities for the first quarter was ¥23,994,817.62, a decrease of 56.4% compared to ¥54,868,564.69 in the previous period[58]. - Total cash inflow from operating activities amounted to ¥310,754,643.61, up 57.0% from ¥197,872,331.24 year-on-year[58]. - Cash outflow from operating activities was ¥286,759,825.99, an increase of 100.9% compared to ¥143,003,766.55 in the previous period[58]. - The net cash flow from investment activities was -¥19,293,190.34, worsening from -¥1,652,881.98 in the previous period[60]. - The total cash and cash equivalents at the end of the period reached ¥433,654,921.04, an increase of 53.0% from ¥283,629,713.27 at the end of the previous period[60]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,460,741,266.68, a decrease of 2.40% from ¥2,521,275,674.71 at the end of the previous year[8]. - The total assets decreased by 2.41% to CNY 2,460,741,266.68 from CNY 2,521,275,674.71 at the beginning of the year[32]. - The company's total liabilities decreased by 4.67% to CNY 1,004,303,535.02, indicating improved financial stability[32]. - Total liabilities decreased to CNY 456,835,808.66 from CNY 462,765,476.08 in the previous period[43]. - The company's total equity rose to CNY 1,348,266,154.67, compared to CNY 1,287,217,222.34 in the previous year[43]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 23,413[12]. - The largest shareholder, CRRC Industry Investment Co., Ltd., held 42.64% of the shares, totaling 179,940,000 shares[12]. Research and Development - Research and development expenses rose by 93.33% to CNY 19,289,256.39, reflecting increased investment in R&D[18]. - Research and development expenses increased to CNY 19,289,256.39, compared to CNY 9,977,307.11 in the previous year[47]. Operational Expenses - Total operating costs amounted to CNY 303,922,165.45, up from CNY 157,543,025.95 in the prior period[47]. - The company reported a significant increase in sales expenses, which reached CNY 36,857,617.99, compared to CNY 17,931,680.77 in the prior period[47]. - The company incurred operating expenses of CNY 15,991,583.17, which is a substantial increase compared to CNY 5,807,098.68 in the previous period, reflecting increased investment in operations[52]. Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[19].

Financial Performance - The company's operating revenue for 2020 was CNY 1,254,114,952.97, representing a 10.34% increase compared to CNY 1,136,567,495.51 in 2019[18]. - The net profit attributable to shareholders for 2020 was CNY 105,952,076.51, which is a 14.77% increase from CNY 92,319,988.54 in the previous year[18]. - The net profit after deducting non-recurring gains and losses reached CNY 95,094,684.43, a significant increase of 534.58% compared to CNY 14,985,396.86 in 2019[18]. - The net cash flow from operating activities was CNY 180,419,146.39, up 142.49% from CNY 74,403,931.59 in the previous year[18]. - The total assets at the end of 2020 amounted to CNY 2,521,275,674.71, reflecting a 15.49% increase from CNY 2,183,082,358.72 at the end of 2019[18]. - The net assets attributable to shareholders increased to CNY 1,217,026,315.44, an 11.16% rise from CNY 1,094,853,475.05 in 2019[18]. - The basic earnings per share for 2020 was CNY 0.25, a 13.64% increase from CNY 0.22 in the previous year[18]. Dividend Distribution - The company plans to distribute a cash dividend of CNY 0.88 per 10 shares, totaling CNY 37,696,000 based on 422,000,000 shares[5]. - The cash dividend for 2019 was 32,493,999.9 CNY, representing 35.20% of the net profit attributable to shareholders[108]. - The cash dividend distribution for 2020 represents 100% of the total distributable profit[109]. Business Transformation and Strategy - The company has undergone a significant business transformation since 2014, shifting its focus from railway freight cars to reverse osmosis membrane business and related sectors[17]. - The company is focusing on enhancing its core membrane business and optimizing business collaboration to improve competitiveness in the industrial membrane market[40]. - The company aims to focus on water environment health and integrated collaborative innovation, leveraging its financing advantages and existing technological strengths to enhance its market position in the separation membrane materials sector[92]. - The company plans to expand its membrane business by developing large-scale preparation platforms and enhancing its product chain in separation membrane materials, transitioning from a specialized manufacturer to a global leader in separation and functional membranes[92]. Market and Industry Outlook - The membrane industry is transitioning from a growth phase to a mature phase, with the company maintaining a strong technological and brand advantage[28]. - The membrane industry is expected to see increased market applications due to the growing water scarcity issue and advancements in membrane technology, indicating a positive market outlook[90]. - The domestic water treatment membrane market is currently dominated by foreign brands, with a low domestic market penetration, suggesting potential growth opportunities for local manufacturers[90]. - The mattress industry is projected to maintain steady growth driven by urbanization, rising disposable income, and increasing consumer awareness of health and environmental issues[91]. Research and Development - The company holds a total of 114 valid patents, including 50 invention patents, 60 utility model patents, and 4 design patents[33]. - The company has established a comprehensive detection platform for membrane performance testing and water quality analysis[33]. - The company has developed a high-automation production line for membrane manufacturing, leading the industry in production efficiency and product stability[33]. - The company will focus on technological research and development to meet the rising demands for water treatment technologies and address potential risks related to receivables and cash flow[97]. Risk Management - The company has identified potential risks in its future development and outlined corresponding countermeasures in its report[5]. - The company faces risks such as potential low returns on investment projects and supply chain disruptions due to the ongoing pandemic, which may impact profit margins[95]. - The company emphasizes the importance of risk management and will implement measures to enhance project evaluation and talent retention to safeguard against potential losses[94]. Corporate Governance - The company has established a comprehensive corporate governance system in compliance with relevant laws and regulations[189]. - The company maintains independence from its controlling shareholder in business, personnel, assets, and financial matters[192]. - The company has a total of 135,000 shares held by former supervisor Lü Heyin, who left the position on January 15, 2021[172]. Social Responsibility - The company actively engaged in poverty alleviation efforts, focusing on increasing income for impoverished communities and improving infrastructure[144]. - The company invested a total of 920,000 RMB in poverty alleviation efforts, helping 520 registered impoverished individuals to escape poverty[146]. - The company donated 1,200 medical mattresses to hospitals to support pandemic relief efforts in February 2020[143].

Financial Performance - Operating revenue for the period reached ¥363,229,100.98, representing a 30.15% increase year-on-year[8] - Net profit attributable to shareholders rose by 114.03% to ¥36,318,945.25 for the quarter[8] - Basic earnings per share increased by 115.00% to ¥0.086[8] - The weighted average return on equity improved to 3.21%, up from 1.74% in the previous year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 182.76% to ¥34,753,546.33[8] - Total operating revenue for the third quarter reached CNY 363,229,100.98, compared to CNY 279,092,005.93 in the previous period, indicating a significant increase[42] - The total operating revenue for the current period is CNY 817,338,304.70, an increase from CNY 753,049,339.97 in the previous period, representing a growth of approximately 8.55%[55] - The net profit for the current period is CNY 70,739,532.97, down from CNY 79,631,747.84 in the previous period, reflecting a decrease of approximately 11.88%[57] - The total comprehensive income for the current period is CNY 27,311,751.22, compared to CNY 14,883,072.80 in the previous period, indicating an increase of approximately 83.33%[48] Cash Flow - Net cash flow from operating activities surged by 115.63% to ¥44,496,344.69[8] - Cash flow from operating activities surged by 187.00% to ¥156,310,606.96, driven by higher cash receipts from sales[18] - The cash inflow from operating activities totaled CNY 787,952,646.26, compared to CNY 706,894,392.20 in the previous period[68] - The net cash flow from operating activities was 156,310,606.96 CNY, a significant increase compared to 54,462,799.10 CNY in the previous period, reflecting a growth of approximately 187%[70] - The company reported a net cash outflow from financing activities of ¥55,121,638.30, primarily due to repayment of bank loans and increased dividend payments[18] - The net cash flow from financing activities was -55,121,638.30 CNY, worsening from -33,417,141.30 CNY in the previous period, indicating increased cash outflows related to financing[72] Assets and Liabilities - Total assets increased by 4.75% to ¥2,286,765,020.88 compared to the end of the previous year[8] - The total assets increased to ¥2,286,765,020.88, up from ¥2,183,082,358.72 at the beginning of the year[30] - The total liabilities reached CNY 963,156,046.12, compared to CNY 923,344,236.81 in the previous period, showing an increase in financial obligations[35] - Total liabilities amounted to ¥487,052,902.81, with current liabilities at ¥82,447,600.97 and non-current liabilities at ¥404,605,301.84[91] - The total equity attributable to shareholders rose to CNY 1,150,438,043.10 from CNY 1,094,853,475.05, indicating growth in shareholder value[35] - Total equity reached ¥1,248,927,746.13, including retained earnings of ¥311,918,762.70 and surplus reserves of ¥99,942,360.52[93] Expenses - Total operating costs amounted to CNY 318,187,106.92, up from CNY 270,013,900.68, reflecting a rise in operational expenses[44] - Research and development expenses increased to CNY 18,745,398.68 from CNY 12,418,406.36, highlighting the company's commitment to innovation[44] - Sales expenses increased by 44.01% to ¥80,547,496.19 due to intensified marketing efforts[18] - Financial expenses decreased by 37.47% to ¥11,219,740.25, attributed to increased interest income and reduced interest expenses[18] - The research and development expenses for the current period are CNY 44,330,178.81, compared to CNY 39,004,833.93 in the previous period, reflecting an increase of about 13.5%[57] Shareholder Information - The company reported a total of 22,621 common shareholders at the end of the reporting period[13] - The largest shareholder, CRRC Industry Investment Co., Ltd., holds 42.64% of the shares[13] - The company did not engage in any repurchase transactions during the reporting period[15] Accounting Standards and Changes - The company has implemented new accounting standards starting January 1, 2020, affecting the classification of contract assets and liabilities[86] - The company implemented the new revenue recognition standard starting January 1, 2020, adjusting pre-receivables to contract liabilities[93] Comprehensive Income - Other comprehensive income rose by 94.07% to ¥49,713,692.33, reflecting an increase in the fair value of other equity investments[18] - The total comprehensive income amounted to CNY 94,854,337.93, down 34.5% from CNY 145,126,804.75 in the previous period[61] - The company’s total comprehensive income includes other comprehensive income of ¥25,718,931.71, contributing to overall equity growth[93]