Group 1: Company Performance - In Q1 2023, the company signed new contracts totaling RMB 34.43 billion, a year-on-year increase of 10.02% [1] - The total amount of new contracts and awarded projects reached RMB 109.30 billion, up 2.31% from the previous year [1] - The company has a solid backlog of contracts and is tracking numerous projects, laying a strong foundation for continued development [1] Group 2: Strategic Developments - The establishment of a new subsidiary, Zhejiang Southeast Future Construction Technology Co., Ltd., focuses on general contracting, steel structure subcontracting, and photovoltaic building integration [2] - The company aims to expand its business model through the "Prefabricated + EPC + BIPV" strategy, enhancing its market presence in photovoltaic building integration [2] Group 3: Market Outlook - The company is actively responding to the national "dual carbon" development strategy, expanding its photovoltaic building integration market [2] - The textile and chemical fiber industry is expected to see stable growth driven by domestic demand in real estate, automotive, and tourism sectors [3]

Financial Performance - The company reported a total revenue of 1,165,549,740 shares, with a cash dividend of 1 RMB per 10 shares (including tax) for all shareholders [4]. - The company's operating revenue for 2022 was approximately ¥12.06 billion, an increase of 6.89% compared to ¥11.29 billion in 2021 [18]. - The net profit attributable to shareholders decreased by 41.03% to approximately ¥290.67 million from ¥492.89 million in 2021 [18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 60.97% to approximately ¥183.54 million from ¥470.23 million in 2021 [18]. - The basic earnings per share decreased by 47.92% to ¥0.25 from ¥0.48 in 2021 [18]. - The total revenue for Zhejiang Southeast Steel Structure Co., Ltd. in 2022 was approximately CNY 12.06 billion, representing a year-on-year increase of 6.89% from CNY 11.29 billion in 2021 [72]. - The chemical fiber industry saw a decline in revenue by 13.63%, totaling CNY 2.67 billion, down from CNY 3.09 billion in 2021 [72]. - The company reported a significant increase in engineering contracting revenue, which rose by 66.51% to CNY 3.10 billion [73]. - The company reported a total of RMB 2,826.53 million in remaining raised funds, including interest income after deducting fees [111]. Cash Flow and Investments - The net cash flow from operating activities was negative at approximately -¥1.17 billion, a decline of 165.67% compared to -¥440.35 million in 2021 [18]. - The total cash inflow from investment activities increased by 231.54% to ¥618,202,963.70 in 2022, while cash outflow decreased by 52.84% to ¥229,935,886.44 [94]. - The company reported a net cash flow from investment activities of ¥388,267,077.26, a significant improvement from -¥301,125,435.97 in 2021 [95]. - The company faced significant cash flow challenges due to increased payments and the absence of last year's non-public offering [95]. - The total investment amount for the reporting period was ¥500,145,932.07, representing a year-on-year increase of 122.95% compared to ¥224,334,067.93 in the same period last year [102]. Business Operations and Strategy - The company has expanded its business into polyester fiber production and sales since 2015, increasing its product offerings [17]. - The company operates six manufacturing bases in Zhejiang, Guangdong, Sichuan, and Tianjin, forming a domestic marketing network across six major regions [40]. - The company is transitioning from specialized subcontracting to EPC (Engineering, Procurement, and Construction) contracting, enhancing its economic returns and cash flow [45]. - The company aims to become the leading brand in green low-carbon prefabricated steel structure buildings in China, focusing on hospitals, schools, and public buildings [46]. - The company has established partnerships with over 10 design institutes and firms to promote collaborative innovation in prefabricated steel structure projects [50]. - The company is committed to the "dual carbon" development strategy, expanding its presence in the photovoltaic building integration market through a combined approach of prefabricated construction and EPC services [138]. Market Trends and Industry Insights - The construction industry in China saw a total output value of approximately ¥31.2 trillion in 2022, growing by 6.5% year-on-year [28]. - The government plans to maintain high levels of infrastructure investment, which is expected to support the construction sector's growth in the coming years [29]. - The proportion of prefabricated buildings in new construction is expected to exceed 30% by 2025, with a target of 40% for steel structure buildings within that category [33]. - The chemical fiber industry is projected to achieve an annual growth rate of 5% in industrial added value for large-scale enterprises by 2025 [37]. - The steel structure industry is characterized by a "large industry, small companies" dynamic, with increasing competition leading to higher industry concentration [125]. Research and Development - The company has developed a unique prefabricated steel structure technology system suitable for various projects, including hospitals and schools, and has accumulated significant project experience in these areas [52]. - The company has created multiple innovation platforms and collaborates with several prestigious universities to enhance its research and development capabilities [58]. - In 2022, the company's R&D investment amounted to ¥459,265,886.41, representing a 14.08% increase compared to ¥402,578,878.21 in 2021, and accounting for 3.81% of total revenue [94]. - The company is currently conducting research on digital simulation pre-assembly technology for steel structures, which aims to significantly reduce construction time and costs [91]. - The company is exploring the application of digital factory intelligent welding technology to improve welding efficiency and precision [92]. Corporate Governance and Management - The company maintains independence from its controlling shareholder in terms of business operations, assets, personnel, and financial management [157]. - The company has established a complete and independent business system, allowing it to operate without reliance on its controlling shareholder [157]. - The board of directors operates under established rules, ensuring objective and scientific decision-making [153]. - The company emphasizes transparent information disclosure and investor relations through multiple communication channels [155]. - The management team includes experienced professionals with significant industry expertise, contributing to the company's strategic direction [165]. Employee and Workforce Management - The total number of employees at the end of the reporting period was 6,268, with 1,144 in the parent company and 5,124 in major subsidiaries [196]. - The company has a total of 3,870 production personnel, 1,072 technical personnel, and 105 sales personnel, reflecting a diverse workforce [196]. - The training plan for employees includes various aspects such as employee quality, vocational skills, and production safety management [198]. - The company has a structured approach to employee training, combining external recruitment and internal development [198]. - The company emphasizes a flexible and growth-oriented salary policy, closely tied to its operational performance and annual performance evaluations [197].

证券代码：002135 证券简称：东南网架 编号：2023-5-17 投资者关系活 特定对象调研 □分析师会议 动类别 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 其他 参与单位名称 华创证券：盛炜 及人员姓名 时间 2023 年 5 月 17 日 15:00-16:00 地点 东南网架会议室 上市公司接待 董事会秘书蒋建华、证券事务部经理周逸铖、证券事务代表张燕 人员姓名 一、投资者互动交流： 1、公司订单情况如何？ 2023 年第一季度，公司新签合同累计金额为人民币 34.43 亿元， 较上年同期增长 10.02%。新签合同以及中标项目总计金额为人民币 109.30 亿元，较上年同期增长 2.31%。随着新一代技术与产业变革 蓬勃发展，预计基础设施建设将迎来新的发展机遇。机场航站楼、 交流内容及具 高铁站房、会展、体育场馆、文体设施和综合体等一号工程项目是 体回答记录 公司的特色和优势，公司将坚定不移地聚焦资源、做大品牌。总承 包工程是公司新的经济增长点，公司将立足主战场，开辟新战场， 发挥优势，全力以赴，创新经营，走出特色化发展道路，打造装配 式钢结构学校、医院、体育场馆、会展中心、 ...

Group 1: New Energy Initiatives - The company is actively responding to national dual carbon policies by expanding its photovoltaic building integration business, with multiple ongoing distributed photovoltaic projects [1][2]. - Future plans include continued collaboration with new energy companies to provide integrated solutions in green building, utilizing the "EPC+BIPV" model [2]. Group 2: AI and Digital Transformation - The company is advancing its digital transformation by investing in a 200,000-ton new type of prefabricated steel structure digital factory, featuring automation and flexible production lines [2]. - The focus on smart development will continue, aligning with national strategies for innovation and research [2]. Group 3: Financial Performance - The company's net profit for 2022 decreased by 41.03% compared to the previous year, primarily due to a decline in the chemical fiber business and high raw material prices [6][7]. - The cash flow from operating activities has been declining, attributed to increased payments for raw materials, prompting the company to enhance inventory management and receivables collection [5][6]. Group 4: Market Position and Competition - The construction steel structure industry is highly competitive, with many small and medium-sized enterprises; larger companies are expected to dominate through capacity expansion and mergers [6]. - The company aims to become the leading brand in green low-carbon prefabricated steel structures by implementing a dual-engine strategy of "EPC general contracting + flagship projects" [3]. Group 5: Research and Development - The proportion of R&D personnel in the company was 18.45% in 2021 and 17.10% in 2022, indicating a strong focus on innovation within the industry [5]. - Significant investments have been made in technology innovation across various fields, including green construction and digital technologies [4]. Group 6: Brand Development and Recognition - The company has received numerous awards, including 51 Luban Awards and 120 China Steel Structure Gold Awards, establishing a high-quality brand image [4]. - The brand strategy emphasizes high-quality project execution and service, contributing to the company's strong market position [4].

Financial Performance - The company's revenue for Q1 2023 was ¥3,188,816,102.10, representing a 16.97% increase compared to ¥2,726,077,634.31 in the same period last year[5] - Net profit attributable to shareholders decreased by 17.01% to ¥141,198,299.42 from ¥170,134,753.46 year-on-year[5] - Basic and diluted earnings per share fell by 20.00% to ¥0.12 from ¥0.15 year-on-year[5] - The net profit for Q1 2023 was CNY 139,926,110.53, a decrease of 17.5% compared to CNY 169,624,318.21 in Q1 2022[20] - The total operating profit for Q1 2023 was CNY 163,763,089.93, down from CNY 191,348,319.00 in the same period last year, reflecting a decline of 14.4%[20] Cash Flow - The net cash flow from operating activities was -¥461,323,361.04, a decline of 89.66% compared to -¥243,231,024.57 in the previous year[5] - Cash flow from operating activities showed a net outflow of CNY 461,323,361.04, worsening from a net outflow of CNY 243,231,024.57 in Q1 2022[21] - The company incurred a total operating cash outflow of CNY 3,732,150,776.60, compared to CNY 3,608,809,503.36 in Q1 2022, reflecting an increase in cash outflows[21] - The company reported cash inflow from financing activities of CNY 1,033,020,000.00, compared to CNY 327,872,851.56 in the previous year, indicating a significant increase[22] Assets and Liabilities - Total assets increased by 2.86% to ¥18,026,412,810.34 from ¥17,524,447,829.86 at the end of the previous year[5] - The total current assets at the end of the first quarter were CNY 14,750,691,647.59, an increase of 3.7% from CNY 14,220,790,857.65 at the beginning of the year[17] - The total current liabilities rose to CNY 10,439,497,626.47, an increase of 3.6% from CNY 10,076,837,589.54 at the beginning of the year[17] - The company's cash and cash equivalents decreased to CNY 1,479,464,200.16 from CNY 1,623,844,702.81 at the beginning of the year, a decline of 8.9%[17] Receivables and Prepayments - Accounts receivable rose by 52.90% to ¥37,255,440.54, primarily due to an increase in commercial acceptance received during the period[8] - Prepayments increased by 101.30% to ¥388,985,304.21, attributed to higher prepayments made during the period[8] Tax and Charges - The company reported a significant increase in tax and additional charges, which rose by 97.39% to ¥9,873,475.25 compared to ¥5,001,998.47 in the previous year[8] Investment Income - Investment income showed a drastic decline of 415.11%, resulting in a loss of ¥6,140,763.16 compared to a profit of ¥1,948,777.98 in the same period last year[8] Shareholder Information - The total number of common shareholders at the end of the reporting period is 64,944[9] - Zhejiang Southeast Network Framework Group Co., Ltd. holds 26.98% of shares, totaling 314,515,000 shares[9] - The top ten shareholders include Hangzhou Haotian Property Management Co., Ltd. with a 6.42% stake, totaling 74,860,000 shares[9] - The company has a total of 55,000,000 shares pledged by Zhejiang Southeast Network Framework Group Co., Ltd.[9] - The company has not disclosed any other significant shareholder relationships beyond those mentioned[10] Convertible Bonds - The company has issued convertible bonds, which were approved by the board and shareholders in 2022[11] - The company received acceptance from the China Securities Regulatory Commission for its application to issue convertible bonds on October 14, 2022[12] - As of March 31, 2023, the company is in the process of issuing convertible bonds to unspecified targets, with the application accepted by the Shenzhen Stock Exchange[13] - The company is actively pursuing market expansion and financing strategies through convertible bonds[11] Research and Development - Research and development expenses for the first quarter were CNY 87,536,329.60, an increase of 21.7% compared to CNY 71,953,260.15 in the previous year[18] Credit Risk - The company reported a credit impairment loss of CNY 51,796,952.41, compared to CNY 42,944,527.24 in the same period last year, indicating an increase in credit risk[18] Operating Costs - The total operating costs for the first quarter of 2023 were CNY 3,072,220,892.94, up 18.5% from CNY 2,591,785,189.85 in the previous year[18] - The total revenue from sales of goods and services was CNY 3,041,472,000.82, slightly down from CNY 3,058,835,401.69 in the previous year[21] - The company reported a decrease in other operating income to CNY 228,585,291.43 from CNY 306,743,077.10 in the previous year[21] Pending Information - The financial report for the first quarter of 2023 is pending further details in the consolidated financial statements[15] - The company has not disclosed any new product developments or market expansion strategies in the current report[23]

Financial Performance - The company reported a total revenue of 1,165,549,740 shares, with a cash dividend distribution of 1 RMB per 10 shares (including tax) for all shareholders[4]. - The company's operating revenue for 2022 was approximately ¥12.06 billion, an increase of 6.89% compared to ¥11.29 billion in 2021[18]. - The net profit attributable to shareholders decreased by 41.03% to approximately ¥290.67 million from ¥492.89 million in 2021[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 60.97% to approximately ¥183.54 million from ¥470.23 million in 2021[18]. - Basic earnings per share decreased by 47.92% to ¥0.25 from ¥0.48 in 2021[18]. - The company reported a significant decline in quarterly net profit, with a loss of approximately -¥85.81 million in Q4 2022, compared to profits in the first three quarters[22]. - In 2022, the company achieved operating revenue of CNY 1,206,443.46 million, a year-on-year increase of 6.89%, while net profit attributable to shareholders decreased by 41.03% to CNY 29,066.86 million[62]. - The engineering general contracting business revenue grew by 66.51% to CNY 310,304.35 million, while the chemical fiber business revenue declined by 13.63% to CNY 266,556.39 million[62]. - The company reported a gross margin of 15.04% in the construction sector, slightly down from 15.89% in the previous year[73]. Dividend Distribution - The company has a total of 1,149,598,194 shares as the base for the dividend distribution after deducting the shares repurchased[4]. - The company distributed a cash dividend of RMB 1 per 10 shares, totaling RMB 114,959,819.40, based on a total share capital of 1,149,598,194 shares[199]. - The proposed cash dividend per 10 shares is 1 yuan (including tax)[200]. - There were no bonus shares distributed per 10 shares[200]. Governance and Management - The company has a comprehensive governance structure with all board members present for the report's approval[4]. - The company emphasizes the importance of risk awareness regarding forward-looking statements due to potential uncertainties from macroeconomic and market conditions[4]. - The company is committed to ensuring the accuracy and completeness of its financial reports, as stated by its management[4]. - The company strictly adheres to corporate governance regulations, ensuring compliance with laws and enhancing operational standards[152]. - The board of directors operates under established rules, ensuring objective and scientific decision-making processes[153]. - The company actively engages with stakeholders to balance interests among shareholders, employees, and society[156]. - The company has established a comprehensive accounts receivable management system to enhance project management and contract performance, aiming to improve accounts receivable turnover rate[146]. Market and Industry Outlook - The construction industry in China is expected to maintain stable growth, supported by government investment and infrastructure projects[29]. - The company is positioned to benefit from the increasing demand for steel structure buildings, with the current market penetration of steel structure residential buildings in China being less than 5%, compared to nearly 50% in developed countries, indicating significant growth potential[34]. - The government aims for prefabricated buildings to account for over 30% of new construction area by 2025, with steel structure buildings making up 40% of prefabricated buildings, reflecting a strong policy push towards green and low-carbon construction[33]. - The chemical fiber industry is experiencing a downward trend due to global economic pressures, with challenges such as high cost volatility and declining terminal demand impacting profitability[38]. - The industry is expected to see a gradual recovery as global economic conditions improve and terminal consumption demand begins to rebound[38]. Research and Development - The company is committed to advancing green manufacturing, with a goal for green fibers to account for over 25% of production and a 20% annual growth in biodegradable fiber materials by 2025[37]. - The company recognizes the importance of digital transformation, aiming for an 80% digitalization rate in management and an 80% CNC rate in key processes[37]. - The company has created multiple innovation platforms and collaborates with several prestigious universities to enhance its research and development capabilities[58]. - The company reported a 14.08% increase in R&D expenses, totaling 459,265,886.41 CNY in 2022 compared to 402,578,878.21 CNY in 2021[90]. - The proportion of R&D investment to operating revenue increased to 3.81% in 2022 from 3.57% in 2021, marking a 0.24% rise[94]. Strategic Initiatives - The company is transitioning from specialized subcontracting to EPC (Engineering, Procurement, and Construction) contracting, enhancing its economic returns and cash flow[45]. - The company aims to become the leading brand in green low-carbon prefabricated steel structure buildings in China, focusing on hospitals, schools, and public buildings[46]. - The company is committed to transforming into a new type of prefabricated EPC general contracting model, responding to national calls for green development[60]. - The company aims to implement a dual-engine development strategy of "EPC general contracting + No. 1 project" to drive growth in differentiated and specialized brand projects[131]. - The company is exploring potential acquisitions in the technology sector to enhance its product offerings and increase operational efficiency[174]. Subsidiaries and Investments - The company operates multiple wholly-owned subsidiaries, enhancing its market presence and operational capabilities[10]. - The company has established partnerships with over 10 design institutes and 8 enterprises to promote collaborative innovation in prefabricated steel structure projects[50]. - The company has established several subsidiaries during the reporting period, including Zhejiang Southeast Longyan Investment New Energy Co., Ltd., with no significant impact on overall operations[121]. - The company has invested RMB 68,388.68 million in the Hangzhou Bay Smart Valley Phase II project, achieving a cumulative gross profit of RMB 29,940.99 million and a gross profit margin of 18.88%[114]. Risks and Challenges - The company faces macroeconomic cycle risks that could impact its long-term development, particularly in fixed asset investment and infrastructure construction[140]. - The company is exposed to significant risks from fluctuations in raw material prices, particularly steel, which constitutes a high proportion of its main business costs[142]. - The company has a high level of accounts receivable, which poses risks to cash flow and operational performance if collection efforts are unsuccessful[144]. Employee and Remuneration Policies - The total remuneration for directors, supervisors, and senior management amounted to 661.02 million CNY for the reporting period[184]. - The company emphasizes performance-based bonuses for senior management at year-end[181]. - The company encourages employee participation in vocational qualification exams and provides incentives for those who pass[198]. - The company has established an annual training plan to enhance employee skills and overall work efficiency[198].

证券代码：002135 证券简称：东南网架 公告编号：2023-034 浙江东南网架股份有限公司 关于举办 2022 年度业绩说明会的公告 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。 浙江东南网架股份有限公司（以下简称"公司"）已于 2023 年 4 月 25 日在 巨潮资讯网上披露了《2022 年年度报告全文》及《2022 年年度报告摘要》。为便 于广大投资者更加全面深入地了解公司经营业绩、发展战略等情况，公司定于 2023 年 05 月 05 日（星期五）15:00-17:00 在"价值在线"（www.ir-online.cn） 举办浙江东南网架股份有限公司 2022 年度网上业绩说明会，与投资者进行沟通 和交流，广泛听取投资者的意见和建议。 一、说明会召开的时间、地点和方式 会议召开时间：2023 年 05 月 05 日（星期五）15:00-17:00 会议召开地点：价值在线（www.ir-online.cn） 会议召开方式：网络文字互动方式 二、参加人员 出席本次年度报告说明会的人员有：公司总经理徐春祥先生、董事会秘书蒋 建华先生、财务总监徐佳玮女 ...

Group 1: Company Overview - The company, Zhejiang Southeast Steel Structure Co., Ltd., has a production capacity of 500,000 tons, with manufacturing bases located in Hangzhou, Tianjin, Chengdu, and Guangzhou [2] - The company is actively transforming and upgrading in the field of prefabricated steel structure buildings, aiming to adopt new industrialization methods [3] Group 2: Policy Impact - The State Council and Zhejiang provincial government have emphasized the development of prefabricated steel and concrete buildings, targeting urban areas with populations over 3 million [3] - By 2020, the goal is to have prefabricated buildings account for 30% of new construction projects, indicating a significant policy push for this sector [3] Group 3: Project Developments - The company has successfully completed a 200,000 square meter project and is currently undertaking a 100,000 square meter public rental housing project in Hangzhou [3][4] - The company is focusing on integrating advanced technologies in its projects, including integrated bathroom systems and solar energy solutions [4] Group 4: Strategic Partnerships - The company has formed strategic alliances with local enterprises in Jiangsu, Chongqing, and Fujian to promote the industrialization of prefabricated steel structures [4][5] - The collaboration aims to leverage existing patents and innovative research to enhance the development of new construction industrialization platforms [5] Group 5: Financial Management - The company has implemented measures to improve the quality of accounts receivable, which is a common challenge in the construction industry [5] - The overall quality of accounts receivable is currently considered good, reflecting effective financial management practices [5] Group 6: Future Development Directions - The company plans to focus on large-scale infrastructure projects domestically and expand into international markets aligned with the Belt and Road Initiative [6] - Future transformations will include a shift from specialized contracting to general contracting, as well as expanding into the steel structure residential market [6]

证券代码：002135 证券简称：东南网架 浙江东南网架股份有限公司投资者关系活动记录表 编号：2022-10-12 | --- | --- | --- | --- | |-------------------------|--------------------------------|------------------------------------------------------------|----------------------------------------| | | | | | | 投资者关系活 | 特定对象调研 | □ 分析师会议 | | | 动类别 | □ 媒体采访 □ | 业绩说明会 | | | | □ 新闻发布会 □ | 路演活动 | | | | □ 现场参观 | | | | | 其他 | | | | 参与单位名称 | 河床资本：杨田； | | | | 及人员姓名 | 财通证券：叶蕾、杜丽、陈国栋 | | | | 时间 | 2022 年 10 月 12 日 | 10:00-11:00 | | | 地点 | 东南网架会议室 | | | | 上市公司接待 人员姓名 | 一、 ...

Financial Performance - Net profit attributable to shareholders increased by 43.55% to CNY 24,005,462.67 for the reporting period[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses surged by 68.16% to CNY 21,937,367.20 for the reporting period[8] - Net profit increased by 77.49% to 155,177,853.11, attributed to improved profitability[16] - Total profit grew by 73.66% to 173,698,441.61, indicating strong operational performance[16] - The net profit attributable to shareholders for 2018 is expected to increase by 60.00% to 100.00%, ranging from CNY 165.73 million to CNY 207.17 million[25] - The net profit for 2017 was CNY 103.58 million, indicating a significant growth trajectory for the company[25] Revenue and Earnings - Operating revenue for the reporting period rose by 2.20% to CNY 2,161,661,923.07, while year-to-date revenue increased by 14.97% to CNY 6,177,581,519.38[8] - Basic earnings per share remained at CNY 0.02, while diluted earnings per share also stayed at CNY 0.02[8] Assets and Liabilities - Total assets increased by 4.16% to CNY 10,504,621,810.52 compared to the end of the previous year[8] - Inventory increased by 31.84% to 3,700,508,258.46 due to higher procurement during the period[16] - Long-term borrowings decreased by 100% to 0.00 as they were reclassified to current liabilities[16] - Other current assets increased by 68.70% to 174,336,961.74, mainly due to an increase in input VAT[16] - Prepayments increased by 81.62% to 460,347,278.90, reflecting higher advance payments for projects[16] Shareholder Information - The total number of shareholders at the end of the reporting period was 44,189[12] - Zhejiang Southeast Network Frame Group Co., Ltd. held 30.41% of the shares, amounting to 314,515,000 shares, with 238,875,000 shares pledged[12] Cash Flow - The net cash flow from operating activities decreased by 54.48% to CNY 75,767,533.90[8] - Cash flow from operating activities decreased by 117.22% to -43,823,286.27, primarily due to higher payments[17] - Cash and cash equivalents decreased by 103.06% to -38,090,354.30, largely due to last year's capital increase[17] Research and Development - Research and development expenses rose by 44.39% to 318,515,551.39, reflecting increased investment in R&D[16] Minority Interest - Minority interest profit rose by 165.96% to 5,464,875.29, driven by better performance of subsidiaries[16] Market Expansion - The increase in profitability is attributed to the company's active market expansion and the improved profitability of its wholly-owned subsidiary, Southeast New Materials (Hangzhou) Co., Ltd., benefiting from the polyester industry's favorable conditions[25]