Financial Performance - The company's operating revenue for the first half of 2022 was ¥3,257,929,426.49, an increase of 11.15% compared to ¥2,931,152,231.13 in the same period last year[20]. - The net profit attributable to shareholders of the listed company decreased by 65.42% to ¥21,952,304.84 from ¥63,485,718.18 year-on-year[20]. - Basic and diluted earnings per share fell by 65.41% to ¥0.0276 from ¥0.0798 in the same period last year[20]. - The company reported a significant decrease in net profit after deducting non-recurring gains and losses, down 71.14% to ¥17,517,754.51 from ¥60,693,956.24[20]. - The total profit for the first half of 2022 was CNY 20,192,774.39, a decrease of 71.73% compared to CNY 71,595,429.03 in the previous year[141]. - The total comprehensive income for the first half of 2022 was CNY 3,221,801.95, down from CNY 64,873,409.34 in the previous year[142]. - The company reported a net loss of CNY 19,360,860.43 for the first half of 2022, an improvement compared to a net loss of CNY 41,313,165.27 in the same period last year[137]. Cash Flow and Investments - The net cash flow from operating activities was negative at -¥130,003,979.40, a decline of 1,142.75% compared to ¥12,467,467.92 in the previous year[20]. - The company's financing activities generated a net cash flow of approximately ¥226.39 million, a 134.62% increase compared to ¥96.49 million in the previous year, attributed to increased borrowings[35]. - The net cash flow from investing activities was -25,599,568.90 CNY, an improvement from -30,846,935.52 CNY in the first half of 2021, indicating a reduced cash outflow in investments[149]. - Cash inflow from financing activities totaled 1,434,876,598.58 CNY, slightly down from 1,512,460,071.09 CNY in the same period last year[149]. Assets and Liabilities - Total assets increased by 7.64% to ¥7,643,017,975.61 from ¥7,100,616,697.41 at the end of the previous year[20]. - The company's cash and cash equivalents at the end of the reporting period were approximately CNY 603.37 million, accounting for 7.89% of total assets[39]. - Short-term borrowings rose to approximately CNY 2.27 billion, representing 29.65% of total liabilities, an increase of 5.82% from the previous year[39]. - The total liabilities increased to CNY 2,985,521,963.70 as of June 30, 2022, from CNY 2,483,327,267.71 at the beginning of the year, representing a rise of 20.2%[138]. Revenue Segmentation - The industrial heat transfer business accounted for about 92.96% of total revenue, generating approximately ¥3.03 billion, which is a 10.77% increase year-on-year[36]. - The clean health engineering segment generated revenue of approximately ¥196.15 million, reflecting a year-on-year growth of 17.52%[36]. - Revenue from the medical clean segment was approximately CNY 196.15 million, with a gross margin of 13.77%, down 2.33% year-on-year[37]. - Revenue from mainland China reached approximately CNY 2.44 billion, with a gross margin of 8.36%, reflecting a decrease of 5.90% year-on-year[37]. Research and Development - The company’s R&D expenditure decreased by 14.49% to approximately ¥104.51 million from ¥122.21 million in the previous year[35]. - Jiangsu Chang Aluminum is investing 200 million RMB in R&D for advanced manufacturing technologies over the next three years[79]. - The company has established a strong competitive advantage in R&D, with national-level research platforms supporting product innovation and process optimization[32]. Risk Management - The company has outlined potential risks and corresponding measures in its management discussion and analysis section[4]. - The company faces risks related to fluctuations in raw material prices, particularly aluminum ingots, and plans to implement dynamic inventory adjustments and hedging strategies to mitigate these risks[52]. - Rapid expansion of the company's asset and production scale poses management risks, necessitating improvements in internal control and organizational management to ensure sustainable development[52]. Corporate Governance and Compliance - The company has a well-established corporate governance structure to protect the rights of shareholders and creditors, ensuring fair and transparent information disclosure[69]. - The company has maintained compliance with environmental regulations, conducting environmental impact assessments for completed projects[64]. - The company has implemented emergency response plans for potential environmental incidents, enhancing its response capabilities[65]. Market Strategy and Future Plans - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share by 2025[79]. - The company aims to enhance its risk control over accounts receivable to prevent potential bad debt losses[53]. - The company is exploring potential mergers and acquisitions to enhance its product portfolio and market reach[79]. Shareholder Dynamics - The total number of common shareholders at the end of the reporting period was 87,404[118]. - The largest shareholder, Changshu Aluminum Foil Factory Co., Ltd., held 10.59% of the shares, equating to 84,290,619 shares[118]. - The report indicates a strategic shift in control from Changshu Aluminum Foil Factory to Qilu Financial, with a voting rights delegation agreement in place for at least 18 months[119]. Environmental and Social Responsibility - The company has established a comprehensive pollution prevention and control system, ensuring that pollutant emissions meet regulatory standards[63]. - The company actively participates in social welfare activities, contributing to community support during the COVID-19 outbreak in Shanghai and Suzhou[73].

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 3,257,929,426.49, representing an increase of 11.15% compared to CNY 2,931,152,231.13 in the same period last year[20]. - The net profit attributable to shareholders decreased by 65.42% to CNY 21,952,304.84 from CNY 63,485,718.18 year-on-year[20]. - Basic and diluted earnings per share fell by 65.41% to CNY 0.0276 from CNY 0.0798 in the same period last year[20]. - The total profit for the first half of 2022 was CNY 20,192,774.39, a decrease of 71.73% compared to CNY 71,595,429.03 in the previous year[141]. - The total comprehensive income for the first half of 2022 was CNY 3,221,801.95, down from CNY 64,873,409.34 in the previous year[142]. - The company's operating profit for the first half of 2022 was CNY 18,760,457.49, a significant decrease from CNY 71,598,105.69 in the same period of 2021[141]. Cash Flow - The net cash flow from operating activities turned negative at CNY -130,003,979.40, a decline of 1,142.75% compared to CNY 12,467,467.92 in the previous year[20]. - The net cash flow from financing activities increased by 134.62% to approximately ¥226.39 million, primarily due to increased borrowings during the reporting period[35]. - The net cash flow from investing activities was -25,599,568.90 CNY in the first half of 2022, an improvement from -30,846,935.52 CNY in the same period of 2021[149]. - Cash inflow from operating activities for the parent company was 2,752,130,203.27 CNY in 2022, an increase from 2,467,501,208.40 CNY in 2021, marking a growth of approximately 11.5%[150]. Assets and Liabilities - Total assets increased by 7.64% to CNY 7,643,017,975.61 from CNY 7,100,616,697.41 at the end of the previous year[20]. - The company's total liabilities increased to CNY 2,985,521,963.70 as of June 30, 2022, from CNY 2,483,327,267.71 at the start of the year, representing a rise of 20.2%[138]. - Accounts receivable decreased to approximately CNY 1.38 billion, representing 18.02% of total assets, down 2.89% from the previous year[39]. - Inventory increased to approximately CNY 2.09 billion, now accounting for 27.39% of total assets, up 3.86% year-on-year[39]. Revenue Segmentation - The industrial heat transfer business accounted for about 92.96% of total revenue, generating approximately ¥3.03 billion, which is a 10.77% increase year-on-year[36]. - The clean health engineering segment generated revenue of approximately ¥196.15 million, reflecting a year-on-year growth of 17.52%[36]. - Revenue from the medical clean segment was approximately CNY 196.15 million, with a gross margin of 13.77%, down 2.33% year-on-year[37]. - Revenue from mainland China reached approximately CNY 2.44 billion, with a gross margin of 8.36%, reflecting a decrease of 5.90% year-on-year[37]. Research and Development - The company’s R&D expenditure decreased by 14.49% to approximately ¥104.51 million from ¥122.21 million in the previous year[35]. - The company has allocated CNY 200 million for R&D in 2022, focusing on innovative aluminum processing technologies[78]. - Jiangsu Chang Aluminum is investing RMB 500 million in R&D for new aluminum alloy products, targeting a launch in Q4 2023[168]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share by 2025[78]. - The company plans to expand its market presence by entering two new provinces in China by the end of 2023, aiming for a 20% increase in market share[166]. - A strategic acquisition of a local competitor is planned, which is expected to increase production capacity by 40%[78]. Risk Management - The company faces various operational risks and has outlined corresponding countermeasures in its report[4]. - The company faces risks from fluctuations in raw material prices, particularly aluminum ingots, and plans to adopt a sales model based on "production according to sales" to mitigate these risks[52]. - The rapid expansion of the company's asset and production scale poses management risks, which the company aims to address by enhancing internal control processes and group management capabilities[52]. Corporate Governance - The company has a comprehensive governance structure to protect the rights of shareholders and creditors, ensuring fair and transparent information disclosure[69]. - The controlling shareholder committed to not interfere with the company's management activities and not to infringe on the company's interests[80]. - The company is committed to adhering to legal and regulatory requirements regarding related party transactions[80]. Environmental and Social Responsibility - The company reported a total emission of non-methane hydrocarbons at 20.0811 tons, which is below the regulatory limit of 47.09 tons[63]. - The company has established pollution prevention facilities and ensures that emissions meet regulatory standards through continuous operation and maintenance[63]. - The company actively participates in social welfare activities, contributing to community support during the COVID-19 outbreak in Shanghai and Suzhou[73].

Revenue and Profit - The company's revenue for Q1 2022 was ¥1,427,627,960.23, representing a 7.11% increase compared to ¥1,332,913,248.77 in the same period last year[3] - Net profit attributable to shareholders decreased by 15.65% to ¥23,765,225.53 from ¥28,174,126.67 year-on-year[3] - Net profit for Q1 2022 was CNY 22,733,523.97, a decrease of 17.5% from CNY 27,561,409.13 in Q1 2021[18] - Basic and diluted earnings per share were both CNY 0.0299, down from CNY 0.0354 in the previous period, reflecting a decrease of approximately 15.5%[19] Cash Flow - The net cash flow from operating activities fell by 30.51% to ¥9,606,613.57 compared to ¥13,825,208.88 in the previous year[3] - The net cash flow from operating activities was CNY 9,606,613.57, down from CNY 13,825,208.88 in the previous period, indicating a decline of approximately 30.4%[22] - Cash inflow from sales of goods and services was CNY 1,607,223,669.10, an increase from CNY 1,273,071,410.05, representing a growth of about 26.2%[22] - Cash flow from financing activities generated a net inflow of CNY 79,981,519.71, significantly higher than CNY 9,058,668.12 in the previous period[24] Assets and Liabilities - Total assets increased by 7.73% to ¥7,649,772,999.13 from ¥7,100,616,697.41 at the end of the previous year[3] - The company's total assets as of March 31, 2022, amounted to CNY 7,649,772,999.13, compared to CNY 7,100,616,697.41 at the beginning of the year, representing an increase of 7.8%[14] - The company's total liabilities reached CNY 4,475,266,006.91, compared to CNY 3,949,759,399.17, an increase of 13.3%[15] Inventory and Borrowings - Inventory rose by 25.83% to ¥211,156,000, primarily due to rising aluminum prices and increased stock[7] - Inventory levels rose significantly to CNY 2,102,040,951.10, up from CNY 1,670,479,693.95, indicating a 25.8% increase[13] - Short-term borrowings increased by 20.14% to ¥203,066,000, attributed to the need for additional financing[7] - Short-term borrowings increased to CNY 2,032,460,487.86 from CNY 1,691,791,483.47, reflecting a rise of 20.2%[14] Shareholder Information - The company reported a total of 60,759 common shareholders at the end of the reporting period[9] - The top shareholder, Changshu Aluminum Foil Factory, holds 10.59% of the shares, totaling 84,290,619 shares[10] Expenses and Earnings - Total operating costs for Q1 2022 were CNY 1,413,112,743.05, up from CNY 1,309,660,855.18, reflecting a year-over-year increase of 7.9%[17] - Research and development expenses for Q1 2022 were CNY 49,965,064.31, slightly up from CNY 47,695,669.74 in the previous year[18] - The company paid CNY 83,984,197.25 to employees, up from CNY 73,163,840.53, indicating an increase of about 14.5%[22] Comprehensive Income - The total comprehensive income for the period was CNY 25,534,003.61, a decrease from CNY 26,867,156.04 in the previous period[19] - The company reported a decrease in retained earnings, with a figure of CNY -17,435,070.96 compared to CNY -41,313,165.27 at the beginning of the year[15] Cash and Tax - The total cash and cash equivalents at the end of the period were CNY 276,156,469.49, slightly down from CNY 279,390,683.48[24] - The company received CNY 62,456,289.44 in tax refunds, an increase from CNY 41,358,642.68 in the previous period[22]

Financial Performance - The company's operating revenue for 2021 was CNY 6,233,353,171.94, representing a 42.42% increase compared to CNY 4,376,851,245.18 in 2020[25]. - The net profit attributable to shareholders for 2021 was CNY 103,935,477.08, a significant increase of 369.21% from CNY 22,151,170.45 in 2020[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 92,233,542.04, compared to a loss of CNY 1,220,142.89 in 2020, marking a 7659.24% increase[25]. - The basic earnings per share for 2021 was CNY 0.1306, up 368.10% from CNY 0.0279 in 2020[26]. - The total assets at the end of 2021 were CNY 7,100,616,697.41, reflecting a 9.11% increase from CNY 6,507,582,475.31 at the end of 2020[26]. - The company reported a net cash flow from operating activities of -CNY 77,751,890.51 in 2021, a decrease of 141.40% compared to CNY 187,794,984.50 in 2020[25]. - The weighted average return on equity for 2021 was 3.35%, up from 0.73% in 2020, indicating improved profitability[26]. - The total operating revenue for the company in 2021 was approximately ¥6.23 billion, representing a 42.42% increase compared to ¥4.38 billion in 2020[45]. - The industrial segment contributed ¥5.64 billion, accounting for 90.44% of total revenue, with a year-on-year growth of 42.08%[46]. - The service segment generated ¥596 million, which is 9.56% of total revenue, showing a growth of 45.68% compared to the previous year[46]. Business Strategy and Expansion - The company has extended its business into the pharmaceutical clean technology sector, reducing its previous over-reliance on aluminum processing[9]. - The company has improved its risk resilience by diversifying into the pharmaceutical clean technology sector, which has lower cyclical risks[9]. - The company has expanded its business scope to include investment management and medical device manufacturing, in addition to its core aluminum products[24]. - The company aims to optimize its product structure and enhance its competitive edge by transitioning from material products to comprehensive service solutions[38]. - The company is focusing on expanding its market presence in the automotive and air conditioning sectors, particularly in the context of the growing demand for lightweight materials in new energy vehicles[39]. - The company plans to optimize the internal structure of its aluminum processing segment, focusing on enhancing service capabilities in the automotive sector, particularly in the new energy vehicle market[73]. - The company aims to promote sustainable development and improve profitability through product structure transformation and upgrading[73]. Risks and Challenges - The company reported a significant reliance on the aluminum rolling processing business, which is sensitive to macroeconomic changes and commodity price fluctuations[6]. - Rising labor costs in developed regions of China pose challenges, and the company must enhance efficiency through automation and high-value products[10]. - The company faces risks from policy adjustments in the aluminum industry, which could negatively impact operational performance and profitability[7]. - The company operates in a cyclical industry, with potential adverse effects from economic downturns on its production and profitability[6]. Governance and Compliance - The company’s governance structure must align with its expanded business scope to avoid management integration risks[9]. - The company maintains complete independence from its controlling shareholder in terms of business, personnel, assets, and operations[79]. - The company has established an independent financial accounting system and tax compliance, ensuring no guarantees are provided against its assets or reputation[80]. - The company emphasizes the importance of compliance with securities laws and regulations to protect the interests of minority shareholders[92]. - The company has a strong governance structure with a diverse board of directors, including professionals with expertise in various fields[86]. - The company has implemented measures to enhance the awareness of regulatory compliance among its management team[92]. - The company is focused on strengthening its governance structure to prevent future compliance issues[92]. Research and Development - Research and development expenses increased by 35.21% to ¥208,669,490.84 in 2021, compared to ¥154,324,992.93 in 2020[56]. - The number of R&D personnel increased by 12.22% to 349 in 2021, compared to 311 in 2020[58]. - The company is currently developing several new products, including high-performance aluminum alloys and graphene-modified hydrophilic coatings, aimed at increasing market share[57]. - The company has established a national-level enterprise technology center and a provincial engineering technology center to support innovation and product development[41]. Shareholder Information - The company’s controlling shareholder changed from Changshu Aluminum Foil Factory to Qilu Financial Investment Group on December 17, 2021, with Qilu Financial acquiring 9% of the total share capital[24]. - The total shares held by directors and senior management at the end of the reporting period amounted to 42,905,100 shares, down from 46,085,100 shares at the beginning of the period, reflecting a reduction of approximately 7.5%[84]. - The company received a warning letter from the China Securities Regulatory Commission regarding a stock reduction by a director, which involved 3.16 million shares, accounting for 0.40% of the total share capital, with a transaction amount of 11.69 million yuan[91]. - The company reported a total of 65,013 shareholders at the end of the reporting period, an increase from 60,759 at the end of the previous month[166]. Environmental and Sustainability Efforts - The company has established an ISO14001 environmental management system and has been maintaining it since 2006[118]. - The company implemented measures to reduce carbon emissions by purchasing some recycled aluminum materials[120]. - The company has set energy consumption targets of 515 kg of standard coal per ton during the 13th Five-Year Plan period[119]. Financial Stability and Liabilities - The company’s total liabilities amounted to RMB 39,497.59 million, an increase from RMB 34,533.31 million in 2020, representing a growth of about 11.3%[188]. - The company’s cash and cash equivalents stood at RMB 592.08 million, compared to RMB 536.05 million in the previous year, showing an increase of approximately 10.4%[186]. - The company’s long-term borrowings decreased to RMB 126.83 million from RMB 276.33 million in 2020, indicating a reduction of about 54.1%[188]. - The company has significant guarantees totaling 100 million yuan, with actual guarantees amounting to 0 during the reporting period[151].

Revenue and Profitability - Revenue for Q3 2021 reached ¥1,592,875,776.41, an increase of 36.89% compared to the same period last year, and a year-to-date revenue of ¥4,524,028,007.54, up 57.29%[3] - Net profit attributable to shareholders was ¥24,393,604.97, a significant increase of 413.19% year-on-year, with a year-to-date net profit of ¥87,879,323.15, up 240.73%[3] - Basic earnings per share for Q3 2021 was ¥0.0307, reflecting a 416.49% increase compared to the same period last year, and year-to-date earnings per share was ¥0.1105, up 240.76%[3] - Operating profit for the current period was ¥97,458,664.26, compared to a loss of ¥60,296,344.05 in the previous period, indicating a turnaround in profitability[20] - Net profit for the current period was ¥85,493,198.35, recovering from a net loss of ¥64,423,446.71 in the previous period, showcasing a substantial improvement[20] - The company reported a total comprehensive income of ¥91,623,486.84, a significant recovery from a loss of ¥63,020,466.66 in the previous period[21] - Earnings per share for the current period were ¥0.1105, recovering from a loss per share of ¥0.0785 in the previous period[21] Assets and Liabilities - Total assets at the end of Q3 2021 amounted to ¥7,097,970,115.67, representing a 9.07% increase from the end of the previous year[3] - Current assets amounted to CNY 4,355,691,813.77, up from CNY 3,775,150,136.96, indicating a rise of about 15.34% year-over-year[16] - Total liabilities were reported at CNY 3,951,462,699.67, compared to CNY 3,453,330,567.03, marking an increase of around 14.4%[17] - The company's total liabilities increased, with long-term payables rising by 301.82%, reflecting an increase of ¥151,360,000 due to increased long-term financing[9] - The company's short-term borrowings increased to CNY 1,663,888,276.95 from CNY 1,569,405,822.45, reflecting a rise of about 6%[17] - The total equity attributable to shareholders was CNY 3,147,709,090.14, compared to CNY 3,053,765,659.26, indicating an increase of approximately 3.08%[18] Cash Flow and Operating Activities - Cash flow from operating activities increased by 56.85% year-on-year, amounting to an increase of ¥508,000, primarily due to higher cash receipts from sales[10] - Cash flow from operating activities generated a net cash inflow of ¥14,025,241.51, up from ¥8,941,780.68 in the previous period, indicating improved operational efficiency[23] - The company achieved a net cash inflow from financing activities of ¥105,397,588.12, down from ¥143,956,973.67 in the previous period, indicating a decrease in financing activities[23] Research and Development - Research and development expenses rose by 136.63% year-on-year, totaling an increase of ¥12,835,000, attributed to increased investment in R&D projects[10] - Research and development expenses increased to ¥222,292,444.04 from ¥93,942,255.29, reflecting a growth of approximately 136.5% as the company invests in innovation[19] Inventory and Operational Scale - The company reported a significant increase in inventory, which rose by 30.87% compared to the beginning of the year, reflecting an increase of ¥41,488,000 due to rising aluminum prices[8] - Inventory increased significantly to CNY 1,759,042,825.20 from CNY 1,344,162,461.09, reflecting a growth of approximately 30.9%[16] - The company has a total inventory of CNY 1,344,162,461.09, reflecting its operational scale[26] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 60,324, with the largest shareholder holding 19.59% of the shares[12] - The company has a total of 10 major shareholders, with the largest being 常熟市铝箔厂有限责任公司 holding 155,892,997 shares[13] Financial Reporting and Standards - The company has not undergone an audit for the third quarter report[29] - The company is implementing new leasing standards, which may impact future financial reporting[29]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 2,931,152,231.13, representing a 71.16% increase compared to CNY 1,712,547,138.75 in the same period last year[20]. - The net profit attributable to shareholders of the listed company reached CNY 63,485,718.18, a significant turnaround from a loss of CNY 54,656,750.06, marking a 216.15% increase[20]. - The net cash flow from operating activities was CNY 12,467,467.92, up 434.38% from CNY 2,333,067.63 in the previous year[20]. - The basic earnings per share improved to CNY 0.0798 from a loss of CNY 0.0687, reflecting a 216.16% increase[20]. - The company reported a significant increase in net profit after deducting non-recurring gains and losses, reaching CNY 60,693,956.24, compared to a loss of CNY 58,989,351.18 last year, a 202.89% increase[20]. - The company's revenue for the reporting period reached ¥2,931,152,231.13, a 71.16% increase compared to ¥1,712,547,138.75 in the previous year, driven by rising aluminum prices and increased sales volume[35]. - The company's revenue for the industrial segment reached ¥2,734,204,327.60, representing a year-on-year increase of 62.58%[38]. - The medical clean segment saw a revenue increase of 442.66% year-on-year, attributed to improved order execution and previous pandemic-related delays[39]. - The company reported a significant increase in contract liabilities to ¥254,547,913.40, up from ¥168,779,181.38, reflecting increased advance payments for projects[41]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 6,997,755,846.58, an increase of 7.53% from CNY 6,507,582,475.31 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company increased to CNY 3,119,903,280.43, a rise of 2.17% from CNY 3,053,765,659.26[20]. - The company's total assets included cash of ¥709,063,153.00, which accounted for 10.13% of total assets, an increase from 8.24% at the end of the previous year[41]. - Inventory increased to ¥1,622,388,775.00, representing 23.18% of total assets, up from 20.66% the previous year[41]. - Short-term borrowings amounted to ¥1,617,289,096.00, which is 23.11% of total liabilities, a decrease from 24.12% the previous year[41]. - The total liabilities increased to CNY 3,878,377,327.31 as of June 30, 2021, compared to CNY 3,453,330,567.03 at the end of 2020, marking an increase of approximately 12.3%[123]. Cash Flow - The company's cash and cash equivalents increased by 110.40% to ¥78,590,180.21, reflecting the combined effects of operating, investing, and financing activities[35]. - Cash flow from operating activities was CNY 3,041,714,519.83, an increase from CNY 2,017,850,686.88 in the same period of 2020[137]. - The net cash flow from operating activities for the first half of 2021 was CNY 68,607,183.59, an increase of 93.5% compared to CNY 35,485,099.08 in the same period of 2020[142]. - Cash inflow from financing activities totaled CNY 1,512,460,071.09, compared to CNY 1,312,864,530.07 in the same period last year, indicating a 15.2% increase[139]. - Cash paid for debt repayment was CNY 1,265,278,436.06, compared to CNY 1,072,855,560.00 in the same period last year, reflecting a 17.9% increase[139]. Research and Development - Research and development expenses rose significantly to CNY 122,211,108.28 in the first half of 2021, up from CNY 52,478,406.32 in the same period of 2020, reflecting an increase of approximately 132.5%[128]. - Research and development expenses increased to CNY 67,703,794.71, up from CNY 37,239,078.06 in the first half of 2020, reflecting a focus on innovation[133]. - The company aims to expand its market presence and enhance product offerings through ongoing research and development initiatives[134]. Risk Management - The company has outlined potential risks and corresponding measures in its management discussion, emphasizing the importance of risk management strategies[6]. - The company faces risks related to rising raw material prices and cyclical fluctuations in the aluminum processing industry, which are sensitive to macroeconomic changes[52]. - Policy risks are present due to government regulations affecting the aluminum industry, which could impact the company's operational performance[53]. - Rising labor costs pose a challenge, necessitating improvements in efficiency and product value to maintain competitiveness[55]. Corporate Governance and Social Responsibility - The company is committed to sustainable development and enhancing its competitive edge through continuous innovation and talent development[33]. - Jiangsu Chang Aluminum Group is committed to social responsibility, ensuring fair treatment of shareholders and engaging in community support initiatives[65]. - The company emphasizes employee rights and well-being, implementing a comprehensive labor contract system and adhering to national labor laws, ensuring contributions to various insurance funds[66]. - The company actively participates in social welfare activities, contributing to poverty alleviation and educational support initiatives[68]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 66,259[106]. - The largest shareholder, Changshu Aluminum Foil Factory, holds 19.59% of the shares, with a decrease of 5,850,000 shares during the reporting period[106]. - The company commits to distribute cash dividends amounting to no less than 30% of the average distributable profit over the last three years from 2021 to 2023[74]. Compliance and Legal Matters - There are no significant litigation or arbitration matters during the reporting period[79]. - The company has not engaged in any violations regarding external guarantees during the reporting period[76]. - There were no penalties or rectifications during the reporting period, indicating a stable compliance status[81]. Accounting Policies - The company recognizes revenue when control of goods or services is transferred to customers, following specific accounting policies effective from January 1, 2020[168]. - The company adopts the Chinese accounting standards and reports its financials in Renminbi, while one subsidiary reports in USD[175]. - The financial statements reflect the company's financial position and performance as of June 30, 2021, in compliance with relevant accounting standards[171].

Financial Performance - The company's operating revenue for 2020 was ¥4,376,851,245.18, representing a 1.07% increase compared to ¥4,330,649,784.47 in 2019[19]. - The net profit attributable to shareholders for 2020 was ¥22,151,170.45, a 0.78% increase from ¥21,980,735.15 in 2019[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥1,220,142.89, a decrease of 108.86% compared to ¥13,768,323.22 in 2019[19]. - The net cash flow from operating activities decreased by 30.20% to ¥187,794,984.50 from ¥269,038,872.58 in 2019[19]. - Total assets at the end of 2020 were ¥6,507,582,475.31, an increase of 8.43% from ¥6,001,705,834.60 at the end of 2019[20]. - The net assets attributable to shareholders at the end of 2020 were ¥3,053,765,659.26, a 0.91% increase from ¥3,026,165,804.48 at the end of 2019[20]. - The company achieved a consolidated revenue of CNY 4.38 billion in 2020, representing a year-on-year growth of 1.07%[37]. - The net profit attributable to shareholders was CNY 22.15 million, an increase of 0.78% compared to the previous year[37]. - The cash flow from operating activities decreased by 30.20% year-on-year, amounting to CNY 187.80 million[37]. - The company reported a total revenue of 1.5 billion RMB for the year 2020, reflecting a year-on-year growth of 10%[92]. Dividend Policy - The company plans not to distribute cash dividends or issue bonus shares for the year[6]. - The company did not declare any cash dividends for 2020, 2019, or 2018, maintaining a cash dividend payout ratio of 0% for these years[88]. - The company has adhered to its cash dividend policy, which aligns with its articles of association and shareholder resolutions[84]. - The company has not proposed any capital reserve conversion into share capital for 2020 due to negative distributable profits[87]. Business Diversification and Strategy - The acquisition of Langmai Co. has diversified the company's operations into the pharmaceutical clean technology sector, reducing dependency on aluminum processing[5]. - The company’s main business has evolved to include pharmaceutical manufacturing and medical device production alongside aluminum products[17]. - The company is focusing on optimizing product structure and enhancing the value-added of materials through deep processing and innovation[29]. - The company is expanding its industrial layout with subsidiaries dedicated to raw material supply and further processing to meet customer demands in the air conditioning and automotive sectors[30]. - The company aims to enhance its market presence in new materials and products while ensuring operational stability amid market uncertainties[39]. - The company plans to adjust its product structure and strengthen its position in the industrial heat transfer sector while expanding into the automotive market[39]. - The company aims to enhance competitiveness and promote sustainable development through its dual business strategy of "Aluminum Processing + Health" moving forward[81]. Risk Management - The company reported a significant reliance on the aluminum rolling processing business, which is sensitive to macroeconomic changes and commodity price fluctuations[4]. - The company faces risks related to rising labor costs and the need for efficiency improvements through mechanization and standardization[5]. - The company’s overall risk management has improved due to the lower cyclical risks associated with the pharmaceutical industry[5]. Corporate Governance - The company’s financial report is guaranteed to be true, accurate, and complete by its management team[3]. - The company has established a comprehensive corporate governance structure and internal control system to ensure fair and transparent communication with all shareholders, enhancing transparency and credibility[124]. - The company has maintained compliance with decision-making procedures regarding dividend distribution and has ensured the protection of minority shareholders' rights[84]. - The company has no significant discrepancies with the regulatory requirements set by the China Securities Regulatory Commission regarding corporate governance[172]. Shareholder Information - The company has not reported any changes in its controlling shareholder since its listing[17]. - The company’s controlling shareholder, Changshu Aluminum Foil Factory Co., Ltd., has not undergone any changes during the reporting period[143]. - The largest shareholder, Changshu Aluminum Foil Factory Co., Ltd., holds 20.33% of the shares, totaling 161,742,997 shares, with a decrease of 2,371,492 shares during the reporting period[140]. - The company has a total of 78,931 shareholders at the end of the reporting period, with no changes in the structure of assets and liabilities reported[138]. Employee and Labor Relations - The total number of employees in the company is 2,243, with 1,536 in production, 117 in sales, 297 in technical roles, 95 in finance, and 198 in administration[164]. - The company has established a comprehensive training system for employees, including onboarding and ongoing training[167]. - The total compensation for directors and senior management during the reporting period amounts to 426.54 million yuan[164]. - The company has not implemented any employee incentive plans during the reporting period[104]. Audit and Compliance - The company received a standard unqualified audit report from the accounting firm for the 2020 financial statements[181]. - The audit committee held seven meetings during the reporting period, ensuring the legality and compliance of the company's fundraising and usage[180]. - There were no significant internal control deficiencies identified during the reporting period[186]. - The auditor evaluates the appropriateness of accounting policies and the reasonableness of accounting estimates and related disclosures made by management[200].

Financial Performance - The company's revenue for Q1 2021 reached ¥1,332,913,248.77, representing a 65.47% increase compared to ¥805,513,004.26 in the same period last year[7] - Net profit attributable to shareholders was ¥28,174,126.67, a significant turnaround from a loss of ¥12,223,360.45, marking a 330.49% increase[7] - Basic and diluted earnings per share improved to ¥0.0354, compared to a loss of ¥0.0154 in the same period last year[7] - The company forecasts a net profit attributable to shareholders of between 55 million and 70 million CNY, representing a significant increase of approximately 200.64% compared to the previous year's loss of 54.66 million CNY[18] - Basic earnings per share are expected to rise to 0.069 CNY, compared to a loss of 0.069 CNY in the same period last year[18] - The total comprehensive income for the first quarter was CNY 26,867,156.04, compared to a loss of CNY 31,646,191.22 in the previous period[40] Cash Flow and Liquidity - The net cash flow from operating activities increased by 658.45% to ¥13,825,208.88, up from ¥1,822,824.55 in the previous year[7] - The net cash flow from operating activities for the current period is ¥141,185,523.65, a significant increase from ¥42,794,360.05 in the previous period, representing a growth of approximately 229.5%[47] - Total cash inflow from operating activities decreased to ¥1,133,569,523.10 from ¥1,439,209,237.29, a decline of about 21.3%[47] - Cash outflow from operating activities also decreased to ¥992,383,999.45 from ¥1,396,414,877.24, a reduction of approximately 29.0%[47] - The company reported a significant increase in sales cash inflow to CNY 1,273,071,410.05 from CNY 846,105,093.58 in the previous year[43] - The cash and cash equivalents at the end of the period amounted to CNY 279,390,683.48, down from CNY 405,697,315.12 at the end of the previous period[45] - The total cash and cash equivalents at the end of the period is ¥89,535,197.44, down from ¥229,378,026.42 in the previous period, a decrease of approximately 60.9%[48] Assets and Liabilities - Total assets at the end of the reporting period were ¥6,669,991,683.28, a 2.50% increase from ¥6,507,582,475.31 at the end of the previous year[7] - Total current assets as of March 31, 2021, amounted to approximately 3.95 billion CNY, an increase from 3.78 billion CNY at the end of 2020[26] - The company's total assets reached approximately 6.67 billion CNY as of March 31, 2021, compared to 6.51 billion CNY at the end of 2020[29] - Total liabilities increased to approximately 3.59 billion CNY as of March 31, 2021, from 3.45 billion CNY at the end of 2020[28] - The total liabilities as of March 31, 2021, were ¥2,491,281,460.47, compared to ¥2,443,759,065.86 at the end of 2020[32] - Total liabilities amount to ¥3,453,330,567.03, indicating a leverage ratio that the company needs to monitor closely[52] Operating Costs and Expenses - The company reported a 60.47% increase in operating costs, correlating with the significant rise in revenue[14] - Sales expenses increased by 77.04% year-on-year, primarily due to higher sales volume and increased export transportation costs[14] - Total operating costs for Q1 2021 were ¥1,309,660,855.18, up from ¥821,487,250.20 in the previous period[35] - The total operating expenses, including cost of goods sold, were CNY 1,079,166,224.62, compared to CNY 680,973,222.83 in the previous period[39] Research and Development - The company has increased its research and development investment, focusing on material innovation and industrial structure transformation, which is beginning to show results[18] - Research and development expenses for Q1 2021 were ¥47,695,669.74, up from ¥27,667,371.24, highlighting a commitment to innovation[35] - Research and development expenses increased to CNY 36,095,190.88 from CNY 23,227,612.61, reflecting a focus on innovation[39] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 68,450[10] - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[11] - The company has no overdue commitments from controlling shareholders or related parties during the reporting period[18] Economic Environment - The macroeconomic environment has improved, leading to strong downstream demand, particularly in automotive heat dissipation materials[18] Audit Status - The company has not undergone an audit for the first quarter report, which may affect the reliability of the financial data presented[53]

Business Operations and Strategy - The company reported a significant reliance on the aluminum rolling processing business, which is sensitive to macroeconomic changes and commodity price fluctuations, potentially impacting future profitability [4]. - The company has expanded its business into the pharmaceutical sector through the acquisition of Langmai Co., enhancing its risk resilience due to the lower cyclicality of the medical industry [5]. - The company’s main business has shifted to include pharmaceutical manufacturing and medical device production, diversifying its revenue streams [17]. - The company aims to develop a dual main business strategy of "Aluminum Processing + Health" to enhance competitiveness and promote sustainable development [82]. - The company plans to adjust its product structure and strengthen its position in the industrial heat transfer sector while expanding into the automotive heat transfer materials market [39]. - The company is focusing on optimizing product structure and enhancing the industrial chain layout, including the use of recycled aluminum to reduce costs [29]. - The company aims to increase the proportion of high value-added products through deep processing of materials and innovation transformation [29]. Financial Performance - The company's operating revenue for 2020 was CNY 4,376,851,245.18, representing a 1.07% increase compared to CNY 4,330,649,784.47 in 2019 [19]. - The net profit attributable to shareholders for 2020 was CNY 22,151,170.45, a 0.78% increase from CNY 21,980,735.15 in 2019 [19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -1,220,142.89, a decrease of 108.86% compared to CNY 13,768,323.22 in 2019 [19]. - The net cash flow from operating activities was CNY 187,794,984.50, down 30.20% from CNY 269,038,872.58 in 2019 [19]. - Total assets at the end of 2020 were CNY 6,507,582,475.31, an increase of 8.43% from CNY 6,001,705,834.60 at the end of 2019 [20]. - The net assets attributable to shareholders at the end of 2020 were CNY 3,053,765,659.26, a 0.91% increase from CNY 3,026,165,804.48 at the end of 2019 [20]. - The company achieved a consolidated revenue of CNY 4.38 billion in 2020, representing a year-on-year growth of 1.07% [37]. - The net profit attributable to shareholders was CNY 22.15 million, an increase of 0.78% compared to the previous year [37]. - Cash flow from operating activities decreased by 30.20% year-on-year, totaling CNY 187.80 million [37]. Investment and Capital Management - The company plans not to distribute cash dividends or issue bonus shares, indicating a focus on reinvestment [6]. - The company has not proposed any capital reserve transfers to increase share capital for the year 2020 [90]. - The company’s cash dividend amounts for 2020, 2019, and 2018 were all CNY 0.00, reflecting no distributions to shareholders [89]. - The company has a cash dividend policy that aligns with its articles of association, and no adjustments to this policy were made during the reporting period [85]. - The company reported a total of 465,109,030.05 in restricted assets, primarily due to bank acceptance bills, letters of credit, and performance guarantees [64]. - The company has a total of 44,493 million in raised funds, with 29,101.24 million utilized to date, representing 34.59% of the total [70]. - The company completed 100% of its commitment to pay restructuring fees, amounting to 9,053.16 million [73]. Shareholder and Governance - The company’s stock is listed on the Shenzhen Stock Exchange under the code 002160, reflecting its public trading status [14]. - The company has not experienced any changes in its controlling shareholder since its listing, ensuring stability in ownership [17]. - The company’s independent directors have fulfilled their responsibilities regarding the cash dividend policy, ensuring the protection of minority shareholders' rights [85]. - The company has established measures to resolve potential conflicts of interest with related enterprises, including the possibility of divesting or acquiring relevant assets [92]. - The company will ensure that any related party transactions are conducted at fair market prices and comply with disclosure obligations [93]. - The company has committed to strictly adhere to relevant laws and regulations regarding related party transactions and will avoid any illegal occupation of the company's funds and assets [93]. - The company has a diverse board with members holding various professional backgrounds, including engineering and economics [156][157]. Employee and Social Responsibility - The company has implemented a full labor contract system, strictly adhering to national labor laws and regulations, and provides various social insurance for employees, including medical and pension insurance [126]. - The company actively participates in social welfare activities, including poverty alleviation and support for disadvantaged groups, contributing to social harmony [128]. - The company has made significant investments in employee development, including training programs and facilities to enhance employee well-being and cohesion [126]. - The company has established a comprehensive training system for employees, including onboarding and ongoing training programs [168]. - The company has outsourced a total of 245,312 hours of labor, with total payments amounting to 11,113,412.12 yuan [169]. Audit and Compliance - The company received a standard unqualified audit report from the accounting firm, confirming the accuracy of its financial statements for the year 2020 [182]. - The audit committee held seven meetings during the reporting period, ensuring compliance with internal audit and fundraising regulations [181]. - There were no significant internal control deficiencies identified during the reporting period [187]. - The company confirmed that there were no public bonds issued that were overdue or unable to be fully redeemed as of the report approval date [191]. - The company has appointed Lixin Accounting Firm as its auditor, with an audit fee of 1.5 million yuan for the reporting period [100]. Market and Industry Trends - Rising labor costs in economically developed regions pose challenges, necessitating efficiency improvements through mechanization and higher value-added products [5]. - The company has benefited from favorable national policies in the medical and healthcare sectors, contributing to significant growth and technological advancements [4]. - The company aims to enhance its R&D capabilities and innovate materials to drive product performance improvements and new product development [38]. - The company reported a gross margin of 13.36% for its industrial segment, with a slight decrease of 1.67% compared to the previous year [46].

Financial Performance - Operating revenue for the reporting period was CNY 1,163,613,610.31, representing a 15.81% increase year-on-year[8] - Net profit attributable to shareholders was a loss of CNY 7,788,728.58, a decrease of 302.00% compared to the same period last year[8] - The company reported a basic earnings per share of -CNY 0.0097, a decrease of 302.08% year-on-year[8] - The company's net loss for the period was CNY 11,127,377.01, reflecting a significant increase in operating costs[46] - The net profit for the third quarter was a loss of CNY 8,959,283.67, compared to a profit of CNY 3,748,128.29 in the same period last year, indicating a significant decline[48] - The total comprehensive income for the third quarter was a loss of CNY 11,769,917.85, contrasting with a gain of CNY 3,033,976.56 in the previous year[48] - The company's net profit for Q3 2020 was -64,423,446.71 CNY, a significant decline compared to a net profit of 11,246,366.82 CNY in Q3 2019, representing a year-over-year decrease of approximately 674%[55] - Operating revenue for the year-to-date period was 2,285,065,753.97 CNY, down from 2,428,168,419.40 CNY in the same period last year, indicating a decrease of about 5.9%[57] - The gross profit margin for the year-to-date period was approximately 6.6%, down from 9.3% in the previous year, reflecting increased costs and reduced sales efficiency[57] - The company reported a total comprehensive income of -63,020,466.66 CNY for Q3 2020, compared to 11,441,583.77 CNY in Q3 2019, marking a decline of approximately 652%[56] Assets and Liabilities - Total assets increased by 7.74% to CNY 6,466,364,435.04 compared to the end of the previous year[8] - Total liabilities rose to CNY 3,501,467,151.73, up from CNY 2,975,200,571.09 in the previous year[40] - Total assets as of September 30, 2020, amounted to 6.47 billion yuan, an increase from 6.00 billion yuan at the end of 2019[37] - Total liabilities reached CNY 2,975,200,571.09, with current liabilities at CNY 2,721,353,928.81 and non-current liabilities at CNY 253,846,642.28[70] - The company's equity totaled CNY 3,026,505,263.51, with a capital reserve of CNY 2,338,970,867.79 and retained earnings showing a deficit of CNY 163,725,989.12[71] - Total equity amounted to approximately CNY 3.08 billion, with total liabilities and equity reaching about CNY 5.19 billion[76] Cash Flow - The net cash flow from operating activities decreased by 83.76% to CNY 6,608,713.05[8] - The net cash flow from operating activities for Q3 2020 was CNY 8,941,780.68, a decrease of 81.3% compared to CNY 47,900,389.30 in the same period last year[62] - Total cash inflow from operating activities was CNY 3,576,786,548.41, up from CNY 3,414,668,141.96, indicating a growth of 4.8%[62] - Cash outflow for purchasing goods and services was CNY 2,835,603,890.72, an increase of 3.6% from CNY 2,737,624,367.51[62] - The net cash flow from investing activities was CNY -63,614,907.82, showing a slight improvement from CNY -189,777,163.95 in the previous year[63] - Cash inflow from financing activities totaled CNY 1,879,832,855.38, a decrease of 5.2% compared to CNY 1,982,213,824.09[63] - The ending cash and cash equivalents balance was CNY 367,994,235.81, up from CNY 272,826,478.75, reflecting a growth of 35%[63] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 61,397[11] - The largest shareholder, Changshu Aluminum Foil Factory Co., Ltd., holds 22.31% of the shares[11] Inventory and Prepayments - Inventory increased by 30.37%, amounting to CNY 32,686,000, primarily due to significant increases in the medical clean board sector[19] - Prepaid accounts increased by 295.82%, totaling CNY 85,930,000, due to higher prepayments for subcontracted engineering and equipment procurement[17] - The company reported a decrease in inventory to CNY 569,267,298.76 from CNY 610,202,524.18[40] Financial Expenses and Income - Non-operating income for the year-to-date was CNY 4,047,651.89, after accounting for tax impacts[9] - Investment income increased by 277.8%, an increase of 2.16 million yuan, mainly due to the profit increase from joint ventures[25] - The company recorded investment income of 49,967,726.19 CNY for the year-to-date period, a slight increase from 49,222,339.25 CNY in the previous year, suggesting stable performance in investment activities[57] - The company reported a cash inflow from investment income of CNY 871,472.60, up from CNY 518,917.81, representing a 67.7% increase[63] Research and Development - Research and development expenses for the quarter were CNY 41,463,848.97, up from CNY 34,117,030.64 in the previous period[46] - Research and development expenses for the year-to-date period totaled 65,780,752.83 CNY, a decrease of 10.2% from 73,277,659.42 CNY in the previous year, indicating a potential shift in focus or budget allocation[57] - Research and development expenses for the quarter amounted to CNY 28,541,674.77, an increase from CNY 21,689,426.86 in the previous year, reflecting a growth of approximately 31%[50] Borrowings and Payables - Long-term borrowings increased by 137.98%, an increase of 135 million yuan, primarily due to the increase in long-term bank loans received during the period[22] - Long-term payables increased by 48.14%, an increase of 46.33 million yuan, mainly due to the increase in financing lease business[23] - Short-term borrowings were reported at CNY 1,622,415,030.00, indicating a significant reliance on short-term financing[70] Other Financial Metrics - Other equity instruments decreased by 40.2%, a reduction of 29.25 million yuan, mainly due to the transfer of part of the equity in Youshi Medical[21] - The company recorded other comprehensive income after tax of CNY -2,810,634.18 for the quarter, compared to CNY -714,151.73 in the previous year[48] - The company’s financial expenses for the quarter were CNY 22,668,845.07, up from CNY 17,052,001.78 in the previous year, indicating an increase of approximately 33%[50] - Financial expenses for the year-to-date period were 55,723,989.88 CNY, slightly down from 56,761,654.69 CNY in the previous year, indicating a marginal improvement in financial management[57] Audit and Compliance - The company has not undergone an audit for the third quarter report[77] - The new revenue and leasing standards were implemented starting in 2020, affecting the classification of advance receipts to contract liabilities[76]