Group 1: Project Developments - The subsidiary Tongling Nanyuan Technology's battery-grade iron phosphate expansion project has an annual production capacity of 50,000 tons, with the second phase expected to reach production in October 2021 [2] - The cooperation project with Hunan Youneng has passed environmental evaluation and is currently in the site preparation phase, with a construction period of approximately 12 months once government approvals are completed [2] Group 2: Market Competition and Industry Trends - The investment in iron phosphate projects by various titanium dioxide and phosphorus chemical companies is expected to intensify market competition by around 2023 [2] - The company has advantages in raw material supply, technology reserves, and cost, positioning it well against competitors in the iron phosphate market [2] Group 3: Pricing and Financial Aspects - The price of iron phosphate has been rising rapidly due to increased raw material costs, with the company adopting a fast-moving operational strategy to manage inventory [3] - The total investment for the 50,000-ton iron phosphate cooperation project with Hunan Youneng is 250 million yuan, funded through a combination of shareholder contributions and self-raised funds [3] Group 4: Titanium Dioxide Market Insights - The price of titanium dioxide is currently at historical highs, driven by rising raw material costs, with steady demand expected to increase in the future [3] - The company does not have plans to expand titanium dioxide production capacity due to regional and environmental constraints [3] Group 5: Chlorination Process Development - The domestic chlorination process for titanium dioxide production is gradually improving, with the company monitoring developments to prepare for future advancements [3]

Revenue and Profitability - Revenue for Q3 2022 reached ¥634,458,141.28, an increase of 16.91% year-over-year, and year-to-date revenue totaled ¥1,989,373,360.77, up 36.93% compared to the same period last year[5] - Net profit attributable to shareholders for Q3 2022 was ¥73,364,915.77, a 71.20% increase year-over-year, with year-to-date net profit at ¥201,184,985.37, up 56.06%[5] - Basic earnings per share for Q3 2022 were ¥0.3412, reflecting a 71.20% increase compared to the same period last year[5] - Total profit for Q3 2022 increased by 84.38% year-over-year, primarily due to the increase in operating profit[36] - Net profit for the current period was ¥269,293,042.99, representing a 94.3% increase from ¥138,550,007.78 in the same period last year[46] - The company’s total profit for the current period was ¥295,087,412.74, an increase of 84.5% from ¥160,042,979.51 in the previous period[46] - The company achieved a basic earnings per share of ¥0.9357, compared to ¥0.5996 in the previous period, reflecting improved profitability[46] Assets and Liabilities - Total assets at the end of Q3 2022 amounted to ¥1,793,707,623.81, representing a 30.22% increase from the end of the previous year[5] - The company's current assets reached CNY 1,107,032,221.43, up from CNY 792,301,013.72 at the start of the year, indicating a growth of approximately 39.7%[42] - The total liabilities increased to CNY 556,976,647.05 from CNY 388,163,850.24, reflecting a rise of about 43.4%[43] - The owner's equity totaled CNY 1,236,730,976.76, compared to CNY 989,313,431.74 at the beginning of the year, marking an increase of approximately 25.1%[43] - Cash and cash equivalents stood at CNY 460,146,308.88, significantly higher than CNY 224,539,795.44 at the beginning of the year, representing an increase of about 105.5%[42] Cash Flow - Cash flow from operating activities showed a significant increase, with a year-to-date net cash flow of ¥232,637,735.51, up 1,583.25%[5] - The company reported a net cash flow from operating activities of ¥232,637,735.51, a substantial rise from ¥13,820,752.11 in the previous period[47] - The company’s cash flow from investing activities showed a net outflow of -¥27,151,395.53, worsening from -¥5,936,949.71 in the previous period, indicating increased investment activities[47] Expenses and Costs - Operating profit for Q3 2022 increased by 87.37% year-over-year, driven by higher sales volume and improved gross margin[33] - Total operating costs amounted to ¥1,680,882,011.31, up 30.6% from ¥1,287,700,508.88 in the prior period[45] - Research and development expenses for Q3 2022 increased by 36.38% year-over-year, indicating a rise in R&D investment[28] - Research and development expenses increased to ¥65,930,624.71, up 36.5% from ¥48,344,098.27 in the prior period, indicating a focus on innovation[45] - The company reported a decrease in financial expenses, with a net financial income of -¥15,412,521.81 compared to a positive income of ¥876,772.81 in the previous period[45] Shareholder Information - The company reported a total of 64,505,784 shares held by the largest shareholder, Tongling Chemical Industry Group Co., Ltd., representing 30.00% of the total shares[40] - The company has a total of 10 major shareholders, with the top three holding a combined 32.36% of the shares[40] Inventory and Receivables - Accounts receivable increased by 153.20% compared to the beginning of the year, primarily due to an increase in customer credit[11] - Accounts receivable rose to CNY 214,101,772.41 from CNY 84,558,278.50, showing a substantial increase of approximately 153.1%[42] - The total inventory as of September 30, 2022, was CNY 162,574,576.06, slightly down from CNY 166,185,768.22 at the beginning of the year[42] Company Developments - The company has not disclosed any new product developments or market expansion strategies in the current report[41]

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 1,354,915,219.49, representing a 48.86% increase compared to CNY 910,217,907.53 in the same period last year[21]. - The net profit attributable to shareholders of the listed company reached CNY 127,820,069.60, up 48.52% from CNY 86,061,472.54 year-on-year[21]. - The net cash flow from operating activities surged to CNY 195,262,908.68, a significant increase of 1,405.90% compared to CNY 12,966,483.71 in the previous year[21]. - The basic earnings per share rose to CNY 0.5945, reflecting a 48.55% increase from CNY 0.4002 in the same period last year[21]. - Total assets at the end of the reporting period were CNY 1,780,987,886.19, marking a 29.29% increase from CNY 1,377,477,281.98 at the end of the previous year[21]. - The net profit after deducting non-recurring gains and losses was CNY 131,511,360.11, which is a 52.22% increase from CNY 86,394,901.50 in the same period last year[21]. - The company's revenue for the reporting period was 1.355 billion yuan, an increase of 48.86% compared to 910 million yuan in the same period last year[29]. - The net profit attributable to shareholders was 127.82 million yuan, reflecting a growth of 48.52% year-on-year[29]. Product Performance - The sales revenue from rutile titanium dioxide accounted for 61.89% of the main business revenue, while phosphate iron sales contributed 37.21%[29]. - The revenue share of phosphate iron products increased from 14.05% to 36.7%, with a year-on-year growth of 288.77%[30]. - The net profit contribution from phosphate iron products rose from 13.72% to 63.58%, with a year-on-year increase of 588.24%[30]. - The company's titanium dioxide product revenue increased by 48.86% year-on-year, reaching approximately ¥1.35 billion, driven by higher sales volume and prices[48]. - The production volume of iron phosphate grew by 92.12%, while sales volume increased by 98.3%, contributing to a significant rise in main business income by ¥369 million, a growth of 288.77%[40]. Capacity and Expansion Plans - The company has a titanium dioxide production capacity of 80,000 tons per year and phosphate iron capacity of 50,000 tons per year[35]. - A new 50,000 tons per year phosphate iron project is planned to be completed in Q4 2022, which will increase the total capacity to 100,000 tons per year[35]. - The company plans to expand its iron phosphate production capacity by an additional 50,000 tons per year, aiming for a total capacity of 150,000 tons by next year[44]. Market and Sales Strategy - The company aims to enhance its market position and has been recognized as a specialized and innovative champion enterprise in Anhui Province[37]. - The company is actively expanding its international sales channels while maintaining a strong domestic market presence[36]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in sales in that region by the end of 2022[108]. Research and Development - Research and development investment rose by 55.45% to approximately ¥45.72 million, indicating a commitment to innovation and product development[48]. - The company has been granted 2 invention patents and 6 utility model patents during the reporting period, enhancing its technological capabilities[43]. Environmental and Social Responsibility - The company made a total environmental investment of 63.5252 million yuan during the reporting period[89]. - The company reported a total of 109.59 tons of COD emissions, which is below the regulatory limit of 487.23 tons per year[88]. - The company successfully maintained stable emissions of wastewater and waste gas, with no environmental pollution incidents reported during the period[89]. - The company actively participates in social welfare activities, including education support and poverty alleviation, to enhance its social image and influence[102]. - The company has contributed a total of 176,000 RMB to increase the income of farmers and impoverished households through various support initiatives[103]. Financial Stability and Governance - The company has not sold any major assets or raised funds during the reporting period[64][65]. - The company did not engage in any external guarantees that violate regulations, maintaining compliance with financial standards[111]. - The company has committed to reducing related party transactions, ensuring fair market practices and transparency[109]. - The company reported no significant litigation or arbitration matters during the reporting period[115]. Shareholder Information - The largest shareholder, Tongling Chemical Industrial Group Co., Ltd., holds 30.00% of the shares, totaling 64,505,780 shares[142]. - The total number of common shareholders at the end of the reporting period was 31,759[141]. - The company has not reported any significant changes in share repurchase or issuance during the reporting period[138]. Risk Management - The company has disclosed potential risks and countermeasures regarding its future operational development in the report[5]. - The company faces foreign exchange risks due to increased export sales, particularly with fluctuations in the USD/RMB exchange rate[78]. - Environmental regulations are becoming stricter, requiring increased investment in environmental protection facilities, which poses a risk to production operations[75].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 652,944,155.98, representing a 60.55% increase compared to CNY 406,697,925.98 in the same period last year[4] - The net profit attributable to shareholders was CNY 56,577,195.22, an increase of 85.21% from CNY 30,546,895.39 year-on-year[4] - The net profit after deducting non-recurring gains and losses reached CNY 60,590,345.45, marking a 100.17% increase compared to CNY 30,269,025.09 in the previous year[4] - The net profit for Q1 2022 was CNY 74,815,675.13, a significant increase of 133.4% compared to CNY 32,082,530.98 in Q1 2021[19] - Operating profit reached CNY 89,782,445.28, up from CNY 37,694,298.96, reflecting a growth of 138.0% year-over-year[19] - The total profit for the period rose by 122.13% compared to the same period last year, primarily due to the increase in operating profit[8] - The total profit before tax was CNY 83,842,730.48, compared to CNY 37,744,154.09 in the previous year, showing an increase of 121.5%[19] Cash Flow and Liquidity - The net cash flow from operating activities was CNY 25,971,476.13, a significant turnaround from a negative cash flow of CNY -25,990,066.19 in the same period last year, representing a 199.93% improvement[4] - Cash flow from operating activities generated a net amount of CNY 25,971,476.13, a turnaround from a negative cash flow of CNY -25,990,066.19 in Q1 2021[24] - Cash and cash equivalents at the end of the first quarter were CNY 261,955,301.56, compared to CNY 224,539,795.44 at the beginning of the year, reflecting an increase of 16.7%[14] - Cash and cash equivalents at the end of the period totaled CNY 260,955,301.56, compared to CNY 140,912,417.45 at the end of Q1 2021, an increase of 85.0%[24] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,509,101,332.92, reflecting a 9.56% increase from CNY 1,377,477,281.98 at the end of the previous year[4] - Total assets as of March 31, 2022, amounted to CNY 1,509,101,332.92, an increase from CNY 1,377,477,281.98 at the beginning of the year, reflecting a growth of 9.5%[15] - Total liabilities increased to CNY 434,894,846.65 from CNY 388,163,850.24, marking an increase of 12.1%[16] - The company's total equity rose to CNY 1,074,206,486.27 from CNY 989,313,431.74, showing an increase of 8.6%[16] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 35,208, indicating a stable shareholder base[10] Research and Development - The company's R&D expenses grew by 43.96% compared to the previous year, indicating increased investment in innovation[8] - Research and development expenses increased to CNY 20,478,212.17, compared to CNY 14,224,440.56 in the previous year, marking a rise of 44.0%[19] Market and Product Development - The company reported a net profit margin improvement due to increased revenue and controlled costs, although specific profit figures were not disclosed in the provided content[18] - The company is focusing on expanding its market presence and enhancing product development, although specific new products or technologies were not detailed in the provided content[18] Operating Costs - The total operating costs for the first quarter of 2022 were CNY 564,506,684.88, up 52.8% from CNY 369,296,803.59 in the previous year[18] - Total revenue from sales of goods and services was CNY 231,208,298.24, compared to CNY 178,973,086.59 in the previous year, indicating a growth of 29.2%[22] - Inventory at the end of the first quarter was CNY 172,671,060.18, up from CNY 166,185,768.22, indicating a growth of 3.0%[14] - Accounts receivable increased significantly to CNY 237,323,412.78 from CNY 84,558,278.50, representing an increase of 180.5%[14]

Financial Performance - The company reported a profit distribution plan of 1.50 CNY per 10 shares (including tax) based on a total of 215,020,000 shares[7]. - The company's operating revenue for 2021 was ¥2,046,965,067.89, representing an increase of 82.49% compared to ¥1,121,707,146.67 in 2020[20]. - The net profit attributable to shareholders for 2021 was ¥185,282,250.84, a significant increase of 184.57% from ¥65,110,381.53 in 2020[20]. - The net profit after deducting non-recurring gains and losses was ¥186,080,984.06, up 226.78% from ¥56,942,948.98 in 2020[21]. - The net cash flow from operating activities was ¥92,847,349.59, an increase of 183.83% compared to ¥32,712,662.14 in 2020[21]. - The total assets at the end of 2021 were ¥1,377,477,281.98, reflecting a growth of 35.20% from ¥1,018,817,012.68 at the end of 2020[21]. - The net assets attributable to shareholders increased by 21.30% to ¥918,998,437.84 at the end of 2021 from ¥757,636,391.29 at the end of 2020[21]. - The basic earnings per share for 2021 was ¥0.8617, up 184.58% from ¥0.3028 in 2020[21]. - The weighted average return on equity for 2021 was 22.16%, an increase of 13.21% from 8.95% in 2020[21]. - The company achieved a total revenue of CNY 204,696.51 million, representing a year-on-year growth of 82.49%, and a net profit attributable to shareholders of CNY 18,528.23 million, up 184.57% year-on-year[52]. Business Operations - The main business of the company includes titanium dioxide and iron phosphate series products, with the iron phosphate project launched in 2015[19]. - The company has established a strong foundation in the titanium industry, focusing on product quality and market expansion strategies[19]. - The company maintains a continuous large-scale production model, adjusting production based on market demand, with sales strategies including direct sales, regional distribution, and foreign trade exports[43]. - The company’s main products, titanium dioxide and iron phosphate, are positioned in high-growth sectors, particularly benefiting from the increasing demand in the new energy battery industry[44]. - The company has a production capacity of 80,000 tons/year for titanium dioxide with a capacity utilization rate of 105.35%[47]. - The design capacity for iron phosphate is 50,000 tons/year, with a current capacity utilization rate of 64.79%[47]. - The company is actively pursuing collaborations in the new energy battery sector, leveraging its upstream resource advantages to expand into battery production and related materials[44]. Market Trends - The price of rutile titanium dioxide increased by 22% and the price of anatase titanium dioxide rose by 39% during the reporting period[30]. - The total production of titanium dioxide in China reached 3.79 million tons in 2021, an increase of 280,000 tons year-on-year, representing an 8% growth, marking a historical high[32]. - The export volume of titanium dioxide was approximately 1.31 million tons, an increase of 97,500 tons year-on-year, with a growth rate of 8.03%[32]. - The shipment volume of lithium iron phosphate cathode materials in China reached 470,000 tons in 2021, a year-on-year increase of 277%[32]. - The installed capacity of lithium-ion batteries in China reached 154.5 GWh in 2021, a year-on-year growth of 143%, with lithium iron phosphate batteries accounting for 52% of the total[35]. - The average price of lithium iron phosphate cathode materials increased by over 100% in 2021 due to supply shortages of key raw materials and significant demand growth[32]. Research and Development - The company holds a total of 24 patents related to titanium dioxide production, including 18 utility model patents and 6 invention patents[46]. - The company has established partnerships with several universities for R&D, focusing on technologies such as "TiO2 hydrolysis online automation control" and "high-performance dense composite membrane titanium dioxide"[49]. - Research and development expenses increased by 79.06% to ¥67,197,227.52, reflecting a significant rise in investment in R&D activities[71]. - The company completed the development of single aluminum-coated and zirconium aluminum-coated products, enhancing product quality and market competitiveness[72]. - The titanium liquid MVR concentration technology project reached its expected goals, significantly reducing energy consumption[72]. Environmental and Social Responsibility - The company has invested a total of 114.98 million CNY in environmental protection during the reporting period[155]. - The company has implemented environmental protection measures as per the environmental impact report, ensuring compliance with pollution discharge standards[154]. - The company has committed to social responsibility initiatives, including support for employees in need and educational assistance programs[157]. - The company has made efforts to reduce carbon emissions and improve energy efficiency, although specific measures were not applicable during the reporting period[157]. - In 2021, the company invested 5 million RMB in poverty alleviation and rural revitalization efforts, with a focus on ensuring no return to poverty[164]. Governance and Compliance - The company emphasizes the importance of accurate financial reporting, with key personnel confirming the integrity of the annual report[6]. - The company has established a transparent performance evaluation and incentive mechanism for senior management, ensuring compliance with legal regulations[109]. - The company has a governance structure that complies with relevant laws and regulations, enhancing transparency and protecting investor interests[109]. - The company has independent procurement and sales systems, ensuring operational autonomy[111]. - The company has committed to strictly adhere to the regulations set by the China Securities Regulatory Commission and the stock exchange, ensuring compliance with internal management systems and equal shareholder rights[169]. Shareholder Relations - The company ensures equal voting rights for all shareholders, particularly minority shareholders, during significant decision-making processes[106]. - The company has implemented a network voting platform for shareholder meetings, promoting inclusivity[106]. - The company held its 2020 annual general meeting with a participation rate of 35.13% on April 14, 2021[113]. - The first extraordinary general meeting of 2021 had a participation rate of 30.54% on June 24, 2021[113]. - The second extraordinary general meeting of 2021 had a participation rate of 30.49% on November 10, 2021[113].

Revenue and Profit Growth - Revenue for Q3 2021 reached ¥542,672,655.87, an increase of 87.59% compared to the same period last year[3] - Net profit attributable to shareholders was ¥42,854,460.34, representing a growth of 203.76% year-on-year[3] - The net profit after deducting non-recurring gains and losses was ¥42,589,849.41, up 250.82% from the previous year[3] - Basic earnings per share for the period was ¥0.1993, reflecting a 203.81% increase year-on-year[3] - Total operating revenue for Q3 2021 reached CNY 1,452,890,563.40, a significant increase of 87.7% compared to CNY 773,164,009.44 in the same period last year[18] - Operating profit for the period was CNY 160,389,058.38, up from CNY 61,877,423.27, reflecting a growth of 158.5% year-over-year[19] - Net profit attributable to the parent company was CNY 128,915,932.88, compared to CNY 51,045,889.15 in the previous year, marking an increase of 152.5%[20] - Basic and diluted earnings per share for the period were CNY 0.5996, compared to CNY 0.2374 in the same quarter last year, reflecting an increase of 152.5%[20] Asset and Liability Changes - Total assets at the end of the period amounted to ¥1,265,790,110.15, a 24.24% increase from the end of the previous year[3] - The company's total assets increased to CNY 1,265,790,110.15 from CNY 1,018,817,012.68, representing a growth of 24.2%[16] - Total liabilities rose to CNY 346,084,131.25, up from CNY 228,051,358.69, indicating a 51.9% increase[16] - Total current assets amounted to RMB 671,028,870.25, an increase from RMB 458,653,820.84 in the previous period[14] Cash Flow and Financing Activities - The company reported a 170.50% increase in cash flow from operating activities year-to-date, totaling ¥13,820,752.11[3] - Cash inflow from operating activities totaled CNY 621,025,638.03, compared to CNY 390,567,802.06 in the previous year, an increase of 59.1%[21] - The net cash flow from operating activities for Q3 2021 was ¥13,820,752.11, an increase of 171.5% compared to ¥5,109,377.47 in Q3 2020[22] - Cash inflow from financing activities totaled ¥58,299,880.00, compared to ¥18,450,000.00 in Q3 2020, representing a 215.5% increase[23] - The net cash outflow from financing activities was -¥7,645,108.22, compared to -¥3,829,161.39 in the previous year, indicating a 99.5% increase in outflows[23] Accounts Receivable and Inventory - Accounts receivable increased by 293.52% compared to the beginning of the year, driven by expanded sales[9] - Accounts receivable increased significantly to RMB 237,882,598.13 from RMB 60,450,242.02 in the previous period[14] - Inventory balance grew by 62.51% year-to-date, influenced by an increase in both quantity and cost of goods[9] - Inventory increased to RMB 147,331,335.90 from RMB 90,659,870.71 in the previous period[14] Research and Development - Research and development expenses rose by 102.57% year-on-year, indicating increased investment in R&D projects[9] - Research and development expenses for the quarter were CNY 48,344,098.27, which is a 102.5% increase from CNY 23,864,946.05 in the previous year[18] Shareholder Information - Total number of common shareholders at the end of the reporting period is 25,374[11] - The company has a significant shareholder, Tongling Chemical Industry Group Co., Ltd., holding 30.00% of shares[11] Other Financial Metrics - Credit impairment losses for the current period increased by 289.49% compared to the same period last year, primarily due to an increase in accounts receivable and higher bad debt provisions[11] - Asset disposal losses for the current period increased by 100% compared to the same period last year, mainly due to the disposal of fixed assets[11] - Income tax expenses for the current period increased by 202.39% compared to the same period last year, primarily due to an increase in total profit[11] - The company reported a credit impairment loss of CNY 5,196,500.47, compared to CNY 1,334,176.32 in the previous year, indicating a deterioration in credit quality[19] Cash and Cash Equivalents - The ending balance of cash and cash equivalents was ¥129,015,915.71, up from ¥97,582,487.92 at the end of Q3 2020, marking a 32.2% increase[23] Audit and Compliance - The Q3 2021 report was not audited, which may affect the reliability of the financial data presented[25]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 910,217,907.53, representing an increase of 88.11% compared to CNY 483,876,298.10 in the same period last year[22]. - The net profit attributable to shareholders of the listed company reached CNY 86,061,472.54, a significant increase of 132.99% from CNY 36,937,846.86 year-on-year[22]. - The net profit after deducting non-recurring gains and losses was CNY 86,394,901.50, up 182.31% from CNY 30,602,836.34 in the previous year[22]. - The basic earnings per share increased to CNY 0.4002, reflecting a growth of 132.95% compared to CNY 0.1718 in the same period last year[22]. - The company reported a significant increase in sales of titanium dioxide, with revenue growing by 85.97% to ¥777,396,761.17, driven by strong market demand[41]. - Phosphate iron sales revenue surged by 109.70% to ¥127,900,034.85, attributed to the commissioning of a new production line in March[41]. - The company reported a total revenue of 297,366.93 million RMB for the reporting period, with a net profit of 42,706.98 million RMB[48]. - The company reported a total comprehensive income total of 86.06 million yuan for the current period, reflecting a significant increase compared to previous periods[155]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,281,022,163.59, an increase of 25.74% from CNY 1,018,817,012.68 at the end of the previous year[22]. - The net assets attributable to shareholders of the listed company were CNY 822,476,409.47, up 8.56% from CNY 757,636,391.29 at the end of the previous year[22]. - Total liabilities increased to CNY 409,555,698.23 from CNY 228,051,358.69, reflecting a growth of approximately 79.6%[132]. - The company's equity attributable to shareholders reached CNY 822,476,409.47, up from CNY 757,636,391.29, indicating an increase of about 8.6%[133]. - The total number of shares is 215,020,000, with 99.65% being unrestricted shares[114]. Cash Flow - The net cash flow from operating activities was CNY 12,966,483.71, a decrease of 6.48% compared to CNY 13,865,322.47 in the same period last year[22]. - The cash flow from operating activities was positively impacted by a significant increase in sales revenue, with cash received from sales amounting to CNY 395,153,722.07[151]. - The ending balance of cash and cash equivalents was CNY 142,129,298.02, up from CNY 104,756,460.58 at the end of the first half of 2020, representing an increase of approximately 35.6%[152]. - Cash generated from operating activities was ¥379,036,068.74 in the first half of 2021, an increase from ¥240,343,466.50 in the same period of 2020[147]. Research and Development - Research and development expenses rose by 61.49% to ¥29,408,501.62 from ¥18,210,977.12, reflecting increased spending on R&D projects[37]. - New product development is underway, with an investment of 200 million CNY allocated for R&D in advanced titanium materials[86]. Market and Industry - The company's main business revenue comes from the sales of titanium dioxide and iron phosphate, with sales revenue from rutile titanium dioxide accounting for 84.33% of total revenue, and iron phosphate accounting for 14.13%[31]. - During the reporting period, the market demand for titanium dioxide continued to improve, leading to a significant increase in product prices compared to the previous year[30]. - The iron phosphate market is experiencing a supply shortage, driven by the rapid growth of the lithium battery industry, with installed capacity increasing from 15.9 GWh in 2015 to 62.85 GWh in 2020[32]. Environmental and Social Responsibility - The company invested a total of 58.29 million yuan in environmental protection during the reporting period[71]. - The company has implemented strict internal controls for foreign exchange hedging to mitigate risks associated with currency fluctuations[53]. - The company has committed to social responsibility initiatives, including safety investments and employee welfare programs[74]. - The company invested 3.6 million yuan in poverty alleviation projects, with one project initiated[77]. Future Outlook - The company has outlined a positive outlook for the second half of 2021, projecting a revenue growth of 20% based on current market trends[85]. - The company plans to enhance automation and smart technology in production to improve efficiency and adapt to market changes[59]. - The company aims to maintain a robust financial strategy to support future growth and market expansion initiatives[155]. Compliance and Governance - The company is committed to adhering to regulatory requirements and maintaining shareholder rights[80]. - There are no reported non-operating fund occupations by major shareholders during the reporting period, ensuring financial stability[88]. - The company has not engaged in any major litigation or arbitration matters during the reporting period, reflecting a stable legal standing[89].

Financial Performance - The company's operating revenue for Q1 2021 was CNY 406,697,925.98, representing a 58.50% increase compared to CNY 256,586,688.06 in the same period last year[8] - The net profit attributable to shareholders for Q1 2021 was CNY 30,546,895.39, up 28.54% from CNY 23,764,412.70 in the previous year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 30,269,025.09, reflecting a 55.37% increase from CNY 19,482,260.99 year-on-year[8] - The basic earnings per share for Q1 2021 was CNY 0.1421, an increase of 28.60% compared to CNY 0.1105 in the same period last year[8] - Total revenue increased by 58.50% compared to the same period last year, driven by higher sales volume and prices of main products[16] - Operating profit grew by 31.15% year-on-year, influenced by increased sales volume and prices, along with a rise in raw material costs[17] - Total profit increased by 31.32% year-on-year, driven by the growth in operating profit[17] Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,208,792,533.03, an 18.65% increase from CNY 1,018,817,012.68 at the end of the previous year[8] - The net assets attributable to shareholders at the end of the reporting period were CNY 788,508,709.46, up 4.07% from CNY 757,636,391.29 at the end of the previous year[8] - The company's total liabilities increased to CNY 385,618,925.28 from CNY 228,051,358.69, which is an increase of approximately 69.25%[40] - The short-term borrowings increased by 303.74% compared to the beginning of the year, reflecting a rise in working capital loans for operations[15] - Accounts receivable at the end of the period grew by 175.44% year-on-year, mainly due to an increase in customer credit[15] - Inventory at the end of the period rose by 47.24% compared to the beginning of the year, due to increases in raw materials and finished goods[15] Cash Flow - The net cash flow from operating activities for Q1 2021 was CNY -25,990,066.19, an improvement of 13.40% compared to CNY -30,011,742.78 in the same period last year[8] - Net cash flow from operating activities rose by 13.40% year-on-year, primarily due to a 79.46% increase in cash received from sales[18] - The cash flow from operating activities showed a net outflow of CNY 25,990,066.19, an improvement from the previous period's outflow of CNY 30,011,742.78[56] - Cash inflow from operating activities totaled 172,718,041.07 yuan, compared to 101,173,806.11 yuan in the prior period, reflecting a 70.6% increase[58] - Cash outflow from operating activities increased to 196,715,549.52 yuan from 129,889,914.56 yuan, representing a 51.4% rise[58] Research and Development - Research and development expenses increased by 39.26% year-on-year, indicating a rise in investment in innovation[17] - Research and development expenses for Q1 2021 were CNY 14.22 million, compared to CNY 10.21 million in the previous year, reflecting a year-over-year increase of about 39.2%[47] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 24,350[11] - The largest shareholder, Tongling Chemical Industry Group Co., Ltd., held 30.00% of the shares, amounting to 64,505,784 shares[11] - The company has committed to ensuring independence in operations and financial dealings to protect shareholder interests[23] - The company has made a long-term commitment to avoid any related party transactions that could harm its interests[24] - The company has fulfilled its commitments to minority shareholders on time[24] Investments and Financial Management - The company reported government subsidies amounting to CNY 201,440.13 during the reporting period[9] - The company reported no securities investments during the reporting period[25] - The company engaged in derivative investments, specifically foreign exchange forward contracts, with a total initial investment of 0 and a net investment amount of 7.44 million yuan at the end of the reporting period[27] - The company has not engaged in any entrusted wealth management during the reporting period[30] - The company has not reported any derivative investment losses during the reporting period[27] - The company has implemented strict internal controls for foreign exchange hedging to mitigate risks associated with currency fluctuations[28] Operational Independence - The company has established a commitment to maintain operational independence from its controlling shareholders[23] - The company has not made any direct investments or acquisitions in businesses that are similar to its own[24] - The company has not engaged in any direct or indirect competition with similar businesses[24] - The company has pledged to take effective measures to avoid any future competition with similar businesses[24] Accounting and Reporting - There were no significant changes in accounting policies or principles compared to the previous reporting period[39] - The company has not made any adjustments to the initial balance sheet items as of January 1, 2021, due to the adoption of the new leasing standards[62]

Financial Performance - The company's operating revenue for 2020 was CNY 1,121,707,146.67, representing an increase of 8.09% compared to CNY 1,037,732,146.09 in 2019[19] - The net profit attributable to shareholders of the listed company was CNY 65,110,381.53, a significant increase of 101.06% from CNY 32,384,106.77 in the previous year[19] - The net profit attributable to shareholders after deducting non-recurring gains and losses for 2020 was ¥56,942,948.98, an increase of 109.67% compared to ¥27,158,247.00 in 2019[20] - Basic and diluted earnings per share for 2020 were both ¥0.3028, representing a 101.06% increase from ¥0.1506 in 2019[20] - The total assets at the end of 2020 were ¥1,018,817,012.68, a 12.60% increase from ¥904,811,327.94 at the end of 2019[20] - The net assets attributable to shareholders increased by 7.73% to ¥757,636,391.29 from ¥703,277,009.76 in 2019[20] - The net cash flow from operating activities decreased by 74.01% to ¥32,712,662.14 from ¥125,855,063.13 in the previous year[20] - The company reported a significant increase in the market demand for iron phosphate products, contributing to substantial revenue growth[29] - The main business revenue from titanium dioxide and iron phosphate sales showed significant growth, with rutile titanium dioxide sales accounting for 86.21% of total revenue[30] Dividend Policy - The company plans to distribute a cash dividend of CNY 1 per 10 shares to all shareholders, based on a total of 215,020,000 shares[7] - In 2020, the company distributed a cash dividend of CNY 21,502,000, which is CNY 1.00 per 10 shares, based on a total share capital of 215,020,000 shares[103] - The cash dividend for 2019 was CNY 10,751,000, or CNY 0.50 per 10 shares, reflecting a decrease from the previous year[100] - The company's net profit for 2020 was CNY 55,929,735.63, with a cash dividend payout ratio of approximately 38.4%[103] - The remaining undistributed profit for 2020 was CNY 109,334,194.46, earmarked for future operational needs[103] Business Operations - The main business of the company includes titanium dioxide products and iron phosphate series products, with the latter being launched in 2015[18] - The company is controlled by Tongling Chemical Industry Group Co., Ltd., which holds 29.9999% of the shares as of December 31, 2020[12] - The company has no actual controller following the changes in its shareholder structure in 2020[18] - The company’s registered address is located at 1288 South Tongguan Avenue, Tongling City, Anhui Province, with a postal code of 244000[15] - The company’s website is http://www.andty.com, providing further information about its operations and financials[15] Research and Development - The company holds 21 patents related to titanium dioxide production, including 17 utility model patents and 4 invention patents, demonstrating strong R&D capabilities[44] - The company has established partnerships with several universities for research and development, focusing on improving the performance of iron phosphate[46] - The total amount of research and development personnel was 106, representing 14.70% of the total workforce[61] - Research and development expenses increased by 6.58% to ¥37,528,448.48 in 2020, compared to ¥35,211,837.65 in 2019[59] - The company is expanding its research and development capabilities in the new energy sector, particularly in lithium iron phosphate production[94] Market and Industry Trends - The overall production capacity of the titanium dioxide industry in China reached 392 million tons per year by 2020, with a 10.39% increase in total output[31] - The average industry operating rate increased, with total industry output reaching 3.51 million tons, a year-on-year increase of 10.39%[39] - The market share of lithium iron phosphate batteries reached 36.7% in 2020, with a year-on-year growth of 11.7%[1] - The company anticipates that the titanium dioxide market will face significant competitive pressure due to the release of 400,000 tons of new capacity in 2021[86] Environmental and Social Responsibility - The company emphasizes social responsibility, focusing on safety investments and environmental management, achieving ISO14001-2004 and OHSMS18001-1999 certifications[139] - The company has implemented various management systems for environmental protection and pollution control[139] - The company has not experienced any environmental pollution incidents in 2020, reflecting its commitment to environmental management[150] - The company invested over 8.78 million yuan in environmental protection measures, including upgrades to its production facilities to ensure compliance with emission standards[150] - In 2020, the company helped 380 individuals from 129 households in Gao Feng Village achieve poverty alleviation[140] Corporate Governance - The company has established a robust governance structure with independent directors and a dedicated supervisory board to ensure compliance and accountability[183] - The company is committed to maintaining high standards of corporate governance and transparency in its operations[186] - The board of directors consists of 5 members, including 2 independent directors, complying with legal requirements[199] - The supervisory board has 3 members, including 1 chairman, and operates in accordance with legal regulations[199] - The company adheres to strict information disclosure practices, ensuring transparency and fairness for all investors[200] Shareholder Structure - The largest shareholder, Tongling Chemical Industry Group Co., Ltd., holds 30.00% of the shares, totaling 64,505,784 shares[164] - The company has no actual controller as of the reporting period, with no shareholder holding more than 10%[170] - The company’s shareholder structure includes both state-owned and non-state-owned entities, indicating a diverse ownership base[166] - The company has not reported any changes in its controlling shareholder during the reporting period[166] Management and Personnel - The company employed a total of 632 staff members, including 434 production personnel, 136 technical personnel, and 25 sales personnel[192] - The company has established a performance-based salary distribution mechanism, which includes basic salary, performance salary, and special rewards[189] - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 3.6293 million[190] - The company provides both internal and external training programs to enhance employee skills and meet development needs[194] - The company has a clear decision-making process for determining the remuneration of directors and senior management, which is subject to board approval[188]

Financial Performance - Operating revenue for the reporting period was ¥289,287,711.34, reflecting a year-on-year increase of 2.93%[7] - Net profit attributable to shareholders was ¥14,108,042.29, up 1.88% year-on-year[7] - Operating profit increased by 33.54% compared to the same period last year, driven by a decrease in product sales prices and costs, an increase in gross margin, and significant profit growth from subsidiaries[16] - Net profit attributable to shareholders of the listed company increased by 29.34% compared to the same period last year, influenced by the increase in operating profit and income tax expenses[16] - The estimated cumulative net profit for the year is projected to be between 60 million and 80 million yuan, representing an increase of 85.28% to 147.03% compared to the previous year's 32.38 million yuan[26] - Basic earnings per share are expected to be between 0.2790 and 0.3720 yuan, reflecting an increase of 85.26% to 147.01% from the previous year's 0.1506 yuan[26] - The net profit for Q3 2020 reached CNY 15.51 million, representing an increase of 6.09% compared to CNY 14.62 million in Q3 2019[46] - The net profit for the year-to-date period was CNY 54.83 million, an increase of 32.1% from CNY 41.48 million in the previous year[53] - The net profit attributable to the parent company is CNY 45,148,185.37, representing an increase of 29.8% from CNY 34,767,529.83 in the previous period[58] - The total comprehensive income for the current period is CNY 54,833,476.49, compared to CNY 41,478,292.54 in the previous period, reflecting an increase of 32.1%[56] Cash Flow - The net cash flow from operating activities was -¥8,755,945.00, a decrease of 117.82% compared to the same period last year[7] - Net cash flow from operating activities decreased by 93.08% compared to the same period last year, affected by various cash outflows related to operating activities[17] - Cash flow from operating activities is CNY 5,109,377.47, a significant decrease from CNY 73,883,661.90 in the previous period[61] - The net cash flow from operating activities for the current period is CNY 24,313,848.09, a decrease of 67.1% compared to CNY 73,756,302.23 in the previous period[63] - Total cash inflow from investment activities is CNY 655,056.71, while cash outflow is CNY 2,925,125.33, resulting in a net cash flow of -CNY 2,270,068.62[62] - Cash inflow from financing activities is CNY 18,450,000.00, down 63.0% from CNY 49,900,000.00 in the previous period[62] - The net cash flow from financing activities is -CNY 3,829,161.39, compared to -CNY 51,495,720.64 in the previous period, indicating a significant improvement[62] Assets and Liabilities - Total assets at the end of the reporting period reached ¥970,158,534.70, an increase of 7.22% compared to the end of the previous year[7] - The balance of accounts receivable increased by 172.73% compared to the beginning of the year, mainly due to an increase in customer credit[15] - The balance of prepayments increased by 290.65% compared to the beginning of the year, primarily due to increased advance payments for raw materials[15] - The balance of construction in progress increased by 376.28% compared to the beginning of the year, attributed to increased investment in ongoing projects[15] - Short-term borrowings increased by 169% compared to the beginning of the year, due to increased bank loans from subsidiaries[15] - Total liabilities increased to CNY 160,670,073.23 from CNY 149,830,055.53 in the previous year[41] - Total assets amounted to CNY 835,385,864.89 as of the end of Q3 2020[74] - Total liabilities reached CNY 149,830,055.53, with current liabilities accounting for CNY 147,247,819.73[74] - Owner's equity totaled CNY 685,555,809.36, reflecting a significant capital reserve of CNY 350,260,215.01[75] Income and Expenses - Financial expenses decreased by 135.85% compared to the same period last year, mainly due to reduced interest expenses from bank loans[16] - Other income increased by 221.25% compared to the same period last year, primarily due to an increase in government subsidies received[16] - Income tax expenses increased by 67.39% compared to the same period last year, mainly due to increased profits during the reporting period[16] - The company's financial expenses showed a notable improvement, with a net financial expense of CNY -127,958.57 compared to CNY 356,966.33 in the previous year[53] - The company reported a significant increase in other income, which rose to CNY 8.14 million from CNY 2.53 million in the previous year[53] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 22,842[11] - The weighted average return on net assets was 1.92%, a decrease of 0.05% compared to the previous year[7] Research and Development - Research and development expenses for Q3 2020 were CNY 5,653,968.93, compared to CNY 4,767,927.23 in the previous period[44] - The company’s research and development expenses for Q3 2020 were CNY 3,86 million, slightly down from CNY 4.06 million in the same period last year[48] - Research and development expenses for the current period amount to CNY 19,666,276.00, down from CNY 21,587,491.49 in the previous period, indicating a reduction of 8.9%[56] Market Outlook - The company anticipates a stable and positive market for titanium dioxide and iron phosphate in the fourth quarter, contributing to significant annual growth compared to the previous year[26]