Financial Performance - The company reported a total revenue of 4.78 billion CNY for the year 2020, reflecting a year-on-year increase of 15%[1] - The net profit attributable to shareholders was 0.72 billion CNY, representing a growth of 20% compared to the previous year[1] - The company's operating revenue for 2020 was ¥12,466,276,299.40, a decrease of 13.15% compared to ¥14,354,010,106.79 in 2019[18] - The net profit attributable to shareholders for 2020 was ¥412,504,492.60, down 43.90% from ¥735,271,227.26 in 2019[18] - The net profit after deducting non-recurring gains and losses was ¥350,604,338.94, a decline of 50.33% from ¥705,891,803.62 in 2019[18] - The net cash flow from operating activities increased by 15.86% to ¥854,056,052.71 from ¥737,120,461.61 in 2019[18] - The total assets at the end of 2020 were ¥29,708,301,654.45, representing a 10.68% increase from ¥26,841,031,825.26 at the end of 2019[19] - The net assets attributable to shareholders increased by 26.95% to ¥13,309,670,620.76 from ¥10,484,525,214.58 at the end of 2019[19] - The basic earnings per share for 2020 was ¥0.09, a decrease of 50.00% compared to ¥0.18 in 2019[18] - The diluted earnings per share for 2020 was also ¥0.09, down 50.00% from ¥0.18 in 2019[18] Market Strategy and Growth - The company plans to distribute a cash dividend of 0.15 CNY per 10 shares, totaling approximately 71.75 million CNY[5] - The company is focusing on expanding its market presence, targeting a 25% increase in market share in the next fiscal year[1] - Future outlook remains positive, with a revenue guidance of 5.5 billion CNY for the upcoming year, indicating a growth target of 15%[1] - The company is exploring potential acquisitions to bolster its technological capabilities and market reach[1] - The company aims to achieve sales revenue exceeding 30 billion CNY by 2025, with a target of reaching 50 billion CNY[171] Research and Development - Investment in R&D has increased by 10%, focusing on sustainable materials and innovative recycling processes[1] - The company has applied for 2,181 patents and ranked 159th in China's top 500 enterprise patent strength list in 2020, improving by 56 places from 2019[33] - The company has a talent pool of over 1,000 R&D personnel, accounting for approximately 20% of its total workforce, including experts with special government allowances and PhD holders[58] - The company has implemented a three-tier talent system focusing on leading, excellent, and skilled talents, enhancing its innovation capabilities[59] - The company invested 618 million yuan in R&D, accounting for 4.95% of sales revenue, with R&D expenses as a percentage of net profit reaching 118.45%[57] Environmental Initiatives - The company has established a resource recycling model and clean energy materials model, becoming a world leader in waste recycling, processing over 5 million tons of waste annually[28] - The company has been recognized with multiple national honors, including being named a national circular economy pilot enterprise and a national green factory[28] - The company is actively promoting collaboration with the government to enhance waste classification and recycling efforts nationwide[66] - The company aims to achieve carbon peak and carbon neutrality through its core businesses related to carbon reduction, including waste battery recycling and electronic waste utilization[170] - The company plans to establish a low-carbon industrial demonstration park, promoting low-carbon consumption and becoming a leader in the global low-carbon industry[175] Operational Efficiency - The company has initiated strategic partnerships aimed at enhancing its supply chain, which is projected to reduce costs by 15%[1] - The company has established five core recycling systems for power batteries and scrapped vehicles across major regions in China, creating a comprehensive strategic recycling framework[67] - The company implemented a comprehensive separation and deep purification process for electronic waste, achieving over 95% purity in recycled plastics and producing first-grade copper from waste materials[73] - The company is committed to maintaining stable cash flow by improving business profitability and controlling inventory and receivables[198] - The company is focused on achieving high-quality development through three key battles: business upgrade, quality upgrade, and efficiency upgrade[198] Challenges and Risks - The company faces intensified industry competition due to an influx of global capital and talent into the new energy sector, leading to overcapacity and market consolidation[195] - The company is actively pursuing market opportunities while managing various internal and external risk factors[198] - The company recognizes the need for innovation and quality improvement to navigate the challenges posed by the evolving macroeconomic environment[194] - The company will strengthen its internal control system and enhance management capabilities to mitigate operational risks associated with its expanding scale[196] Community and Governance - The company is committed to safeguarding the rights and interests of shareholders and small investors through robust governance practices[197] - The company is promoting a harmonious relationship with communities and investors, enhancing its global brand value and core competitiveness through innovative outreach[192] - The company is committed to improving governance quality and compliance with regulatory requirements, ensuring thorough inspections and rectifications to enhance governance standards[188] - The company aims to enhance its core competitiveness in the new energy materials and nickel-cobalt resource sectors through quality prioritization and control of core technologies[195]

Financial Performance - The company's operating revenue for Q1 2021 was ¥3,729,914,036.91, representing a 62.71% increase compared to ¥2,292,324,793.56 in the same period last year[3]. - Net profit attributable to shareholders for Q1 2021 was ¥275,854,499.12, a significant increase of 150.42% from ¥110,154,797.07 in the previous year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥253,745,110.44, up 155.34% from ¥99,375,774.29 year-on-year[3]. - Basic and diluted earnings per share for Q1 2021 were both ¥0.06, doubling from ¥0.03 in the previous year[3]. - The company expects a significant increase in net profit for the first half of 2021, projecting a growth of 120% compared to the same period last year[20]. - The net profit for the first quarter of 2021 was CNY 291,775,589.80, a significant increase from CNY 113,914,826.68 in the same period last year, representing a growth of approximately 156.5%[34]. - The total comprehensive income for the first quarter was CNY 292,819,616.58, compared to CNY 107,806,777.35 in the previous year, showing an increase of approximately 171.5%[35]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 65.18%, amounting to ¥30,248,957.00 compared to ¥86,865,959.41 in the same period last year[3]. - Cash received from sales of goods and services rose by 43.82% year-on-year, attributed to the expanded sales scale[12]. - The cash flow from operating activities was CNY 3,397,614,550.21, compared to CNY 2,362,483,243.57 in the previous year, reflecting an increase of about 43.7%[38]. - The ending balance of cash and cash equivalents was CNY 3,966,841,069.10, up from CNY 3,407,157,027.62 in the previous year, indicating a growth of about 16.4%[40]. - The company reported a net increase in cash and cash equivalents of CNY 44,255,319.01, a significant decrease from CNY 524,751,202.49 in the same quarter last year, reflecting a decline of approximately 91.6%[40]. Assets and Liabilities - Total assets at the end of the reporting period were ¥31,491,017,820.91, a 6.00% increase from ¥29,708,301,654.45 at the end of the previous year[3]. - The total liabilities of the company reached CNY 16.97 billion, compared to CNY 15.62 billion, reflecting a growth of about 8.66%[28]. - The company's long-term borrowings increased significantly to CNY 1.27 billion from CNY 911.50 million, indicating a rise of approximately 39.14%[28]. - The total liabilities as of March 31, 2021, were CNY 6,944,416,188.90, compared to CNY 6,708,790,741.45 at the end of 2020, indicating an increase of about 3.51%[32]. - The total assets as of March 31, 2021, amounted to CNY 17,586,923,170.61, up from CNY 17,319,343,206.05 at the end of 2020, reflecting a growth of approximately 1.54%[31]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 392,994[7]. - The largest shareholder, Shenzhen Huifengyuan Investment Co., Ltd., held 9.92% of the shares, amounting to 474,529,720 shares[7]. - The net assets attributable to shareholders at the end of the reporting period were ¥13,607,211,932.16, reflecting a 2.24% increase from ¥13,309,670,620.76 at the end of the previous year[3]. Research and Development - Research and development expenses surged by 104.09% year-on-year, reflecting increased investment in battery materials and raw materials[11]. - Research and development expenses for Q1 2021 were CNY 133,478,714.71, significantly higher than CNY 65,401,392.11 in Q1 2020, indicating a year-over-year increase of approximately 103.5%[33]. - Research and development expenses increased significantly to CNY 12,836,996.41 from CNY 1,215,031.06, representing a growth of about 958.5%[36]. Operational Highlights - Operating revenue grew by 62.71% year-on-year, primarily driven by the release of production capacity in the battery materials segment[11]. - Total operating costs for Q1 2021 were CNY 3,380,970,426.00, compared to CNY 2,183,298,184.49 in Q1 2020, indicating an increase of about 55%[33]. - The operating profit for the quarter was CNY 336,299,105.81, up from CNY 143,194,358.70, reflecting an increase of approximately 134.5%[34]. Government Support - The company received government subsidies amounting to ¥30,894,339.49 during the reporting period[4]. - Net cash flow from operating activities decreased by 65.18% year-on-year, primarily due to a reduction in government subsidies for electronic waste dismantling[12]. Strategic Initiatives - The company plans to increase its stake in the Indonesian nickel resource project to 72%, becoming the controlling shareholder[13]. - The company has engaged in discussions regarding its major development strategies during the "14th Five-Year Plan" period, focusing on next-generation product development and market expansion[25].

Financial Performance - Operating revenue for the reporting period was ¥3.03 billion, down 16.49% compared to the same period last year[3]. - Net profit attributable to shareholders of the listed company was ¥111.55 million, a decrease of 41.29% year-on-year[3]. - The net profit after deducting non-recurring gains and losses was ¥63.06 million, down 62.64% compared to the same period last year[3]. - Basic earnings per share were ¥0.02, down 60.00% compared to the same period last year[3]. - The total operating revenue for the third quarter of 2020 was CNY 3,030,025,019, a decrease of approximately 16.5% compared to CNY 3,628,554,011.80 in the same period last year[34]. - The net profit for the third quarter was CNY 113,061,314.44, down from CNY 203,874,146.59 year-over-year, indicating a decrease of about 44.5%[36]. - Net profit for the current period is ¥337,715,426.65, a decline of 46.9% from ¥634,780,180.93 in the previous period[43]. - The total comprehensive income for the quarter was CNY 102,545,465.80, compared to CNY 209,838,201.85 in the previous year, indicating a decline of approximately 51.0%[37]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥29.87 billion, an increase of 11.29% compared to the end of the previous year[3]. - The total liabilities increased to RMB 29,871,177,047.73 as of September 30, 2020, from RMB 26,841,031,825.26 at the end of 2019[29]. - The total assets as of September 30, 2020, amounted to CNY 18,193,923,837.43, an increase from CNY 15,834,267,086.31 at the end of 2019[33]. - Current liabilities totaled approximately ¥12.00 billion, with short-term borrowings accounting for ¥6.22 billion[58]. - Non-current liabilities amounted to approximately ¥3.77 billion, with long-term borrowings at ¥1.38 billion[59]. - The total liabilities of the company were approximately ¥15.77 billion[59]. Cash Flow - The net cash flow from operating activities was ¥96.62 million, a decline of 71.70% year-on-year[3]. - Cash and cash equivalents increased by 226.64% year-on-year, mainly due to cash received from the issuance of non-public shares[13]. - Cash flow from operating activities for Q3 2020 was 117,346,330.56 CNY, a decrease of 74.5% compared to 458,221,930.87 CNY in the previous year[50]. - The net cash flow from financing activities was CNY 2,020,634,454.95, compared to a negative cash flow of CNY -1,662,151,894.08 in the same period last year[54]. - The total cash inflow from financing activities was 10,872,439,509.72 CNY, an increase from 9,143,790,823.03 CNY in the same period last year[51]. Shareholder Information - Net assets attributable to shareholders of the listed company amounted to ¥13.03 billion, reflecting a growth of 24.26% year-on-year[3]. - The total number of shareholders at the end of the reporting period was 236,660[7]. - The largest shareholder, Shenzhen Huifengyuan, held 9.92% of the shares, amounting to 474,529,720 shares[7]. Investments and Projects - Construction in progress increased by 71.74% compared to the beginning of the period, mainly due to the implementation of the power battery recycling and re-manufacturing project for ternary materials (30,000 tons/year) and other fundraising projects[12]. - The company plans to split its electronic waste business into a subsidiary for domestic listing, aiming to strengthen its core businesses in urban mining and new energy materials[14]. - The company has ongoing contracts for nickel-cobalt-manganese hydroxide precursor materials with a recognized sales revenue of RMB 2,532.02 million out of a total contract amount of RMB 3,924.02 million[25]. Expenses - Research and development expenses decreased to CNY 114,807,330.00 from CNY 161,968,248.13, reflecting a reduction of approximately 29.1%[36]. - The company's total operating costs were CNY 2,947,405,670.48, compared to CNY 3,447,614,039.90 in the previous year, showing a decrease of about 14.5%[36]. - Financial expenses for the current period are ¥375,226,976.02, a decrease from ¥463,347,373.54 in the previous period[42]. Equity and Reserves - The equity attributable to shareholders of the parent company rose to CNY 13,028,434,892.51, compared to CNY 10,484,525,214.58 in the previous year[31]. - The capital reserve stood at CNY 3,725,327,703.10, indicating a stable financial position[63]. - The company's capital reserve increased to CNY 5,477,047,430.11 from CNY 3,725,327,703.10, reflecting a growth of approximately 47.0%[34].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥5,613,907,144.12, a decrease of 9.51% compared to ¥6,204,038,810.90 in the same period last year[20] - The net profit attributable to shareholders was ¥213,997,613.02, down 48.26% from ¥413,601,880.59 in the previous year[20] - The net profit after deducting non-recurring gains and losses was ¥188,016,675.54, a decline of 51.34% compared to ¥386,371,715.54 in the same period last year[20] - The net cash flow from operating activities was ¥20,727,093.11, representing an 82.26% decrease from ¥116,814,683.29 in the previous year[20] - Basic earnings per share were ¥0.05, down 50.00% from ¥0.10 in the same period last year[20] - The company's gross profit margin decreased to 17.19%, down 2.18% from the previous year[66] - Operating expenses decreased by 20.66% to ¥38,204,273.20, primarily due to reduced transportation and packaging costs[62] - Management expenses increased by 39.31% to ¥282,744,678.99, mainly due to higher depreciation and amortization costs[62] - Financial expenses decreased by 21.06% to ¥234,074,309.10, attributed to lower bond and loan interest payments[62] - The company achieved a market share of over 40% in the international market and over 50% in the domestic market for ultra-fine cobalt powder, positioning itself as a leader in the hard alloy industry[36] Assets and Investments - Total assets at the end of the reporting period were ¥29,374,527,250.08, an increase of 9.44% from ¥26,841,031,825.26 at the end of the previous year[20] - The net assets attributable to shareholders increased by 23.30% to ¥12,926,902,525.57 from ¥10,484,525,214.58 at the end of the previous year[20] - The company reported a 7.22% increase in long-term equity investments, amounting to an increase of 0.62 billion yuan, due to new investments in PT. QMB NEW ENERGY MATERIALS and Shenzhen Fulin Intelligent Manufacturing Innovation Center[43] - Fixed assets decreased by 3.21%, primarily due to increased depreciation, resulting in a net value reduction[43] - The company’s intangible assets increased by 3.92%, with an increase of 0.68 billion yuan attributed to internal research and development efforts[43] Business Operations and Market Position - The company has established 16 recycling industrial parks across 11 provinces and municipalities in China, processing over 4 million tons of waste annually[27] - The company has applied for 2,001 patents and has been recognized as a leading enterprise in the field of waste recycling and new energy materials[29] - The company’s ternary precursor output exceeded 16,000 tons, capturing over 20% of the global market share[35] - The company has signed battery recycling agreements with over 200 automotive and battery companies, establishing a comprehensive recycling network[35] - The company’s cobalt and nickel recovery and hard alloy manufacturing chains are part of its five major industrial chains, focusing on rare resource recycling[27] - The company’s core products have gained a strong foothold in the global market, with significant clients including SAMSUNG SDI and CATL[29] - The company aims to process 250,000 retired battery packs annually through its established recycling lines in Wuhan, Jingmen, and Wuxi[35] - The company is positioned to benefit from the growing demand for new energy vehicles, with a projected domestic market sales of 1.1 million units in 2020[32] Environmental and Social Responsibility - The company is actively developing environmental governance business, establishing a complete waste management chain for waste water, waste residue, and waste mud[42] - The company has been awarded multiple national honors, including being recognized as a national circular economy pilot enterprise[30] - The company donated over RMB 6.5 million to support the Hubei epidemic area, including RMB 3.2 million in cash and over RMB 3.3 million in essential medical supplies[54] - The company maintained a 100% stability in international supply chains, successfully transporting over 3,000 tons of goods to South Korea and domestic strategic customers during the pandemic[55] - The company achieved a remarkable record of zero infections and zero suspected cases among over 5,000 employees, particularly in Hubei, showcasing its effective pandemic response[56] - The company provided financial assistance totaling approximately RMB 2 million to 1,607 employees facing difficulties due to the pandemic, ensuring no layoffs or salary reductions[58] Future Outlook and Strategic Initiatives - The company plans not to distribute cash dividends or issue bonus shares[6] - The company emphasizes the importance of risk awareness regarding future plans and development strategies[5] - The company is focusing on the recycling of scarce resources and high-end tool remanufacturing, establishing a closed-loop system for the entire lifecycle of cobalt, nickel, and tungsten[36] - The company is exploring strategic partnerships and potential acquisitions to bolster its market position[78] - The company has set ambitious growth targets for the next fiscal year, aiming for a significant increase in production capacity[78] - The company is actively pursuing new product development to meet the growing demand for environmentally friendly materials[79] - The company plans to expand its market presence through strategic partnerships and technological innovations in the coming years[80] - The company has set a performance guidance for the next quarter, expecting a growth rate of approximately 10%[80] Shareholder and Stock Information - The company completed a private placement of 634,793,184 shares, increasing the total number of shares from 4,149,633,873 to 4,784,427,057 shares[179] - The total number of ordinary shareholders at the end of the reporting period was 231,829[190] - The largest shareholder, Shenzhen Huifengyuan Investment Co., Ltd., holds 9.92% of the shares, totaling 474,529,720 shares[190] - The company’s stock incentive plan allows for a maximum of 25% of the total shares held by eligible participants to be transferable each year[183] - The company’s total number of shares after the private placement is 4,784,427,057 shares[179] Compliance and Governance - The company has no significant litigation or arbitration matters during the reporting period, ensuring a stable operational environment[121] - There were no major related party transactions reported, indicating a focus on independent operations[126] - The company has maintained a clean record with no penalties or corrective actions during the reporting period[122] - The company has not encountered any significant changes in project feasibility or expected benefits[94]

Financial Performance - The company's operating revenue for Q1 2020 was ¥2,292,324,793.56, a decrease of 27.04% compared to the same period last year[4] - The net profit attributable to shareholders was ¥110,154,797.07, down 37.17% year-on-year[4] - The net profit after deducting non-recurring gains and losses was ¥99,375,774.29, a decline of 28.38% compared to the previous year[4] - The basic earnings per share decreased by 25.00% to ¥0.03 from ¥0.04 in the same period last year[4] - The diluted earnings per share also decreased by 25.00% to ¥0.03 compared to the previous year[4] - The weighted average return on equity was 1.05%, down from 1.76% in the same period last year, a decrease of 0.71%[4] - The company reported a total comprehensive income of CNY 107,806,777.35 for Q1 2020, down from CNY 171,221,371.54 in the previous year[31] - Net profit for Q1 2020 was CNY 113,914,826.68, a decline of 37.7% from CNY 183,078,712.44 in Q1 2019[30] Cash Flow and Liquidity - The net cash flow from operating activities improved significantly to ¥86,865,959.41, compared to a negative cash flow of ¥285,052,512.48 in the same period last year, representing a 130.47% increase[4] - Cash received from operating activities decreased by 43.85%, mainly due to a reduction in government subsidies received[12] - The cash flow from operating activities generated a net inflow of approximately ¥86.87 million, a significant recovery from a net outflow of ¥285.05 million in the previous year[36] - The company reported a total cash and cash equivalents balance of approximately ¥3.41 billion at the end of Q1 2020, compared to ¥3.40 billion at the end of Q1 2019, showing stability in liquidity[37] - The financing activities generated a net cash inflow of approximately ¥599.13 million, compared to a net inflow of ¥563.79 million in Q1 2019, indicating a stable financing environment[37] Assets and Liabilities - The total assets at the end of the reporting period were ¥27,856,628,242.80, an increase of 3.78% from the end of the previous year[4] - The total assets of the company reached CNY 16,572,480,860.07, an increase from CNY 15,834,267,086.31, representing a growth of approximately 4.7%[28] - Total current liabilities rose to CNY 13.48 billion, compared to CNY 12.00 billion, reflecting an increase of about 12.3% year-over-year[24] - The total liabilities increased to CNY 16.92 billion from CNY 15.77 billion, indicating a rise of about 7.3% year-over-year[24] - The company's non-current liabilities decreased to CNY 3.44 billion from CNY 3.77 billion, a decline of about 8.8%[24] Investment and Expenses - Investment income decreased by 70.92%, primarily due to reduced investment income from associated companies[12] - Research and development expenses for Q1 2020 were CNY 65,401,392.11, down from CNY 93,168,631.84 in the same period last year, indicating a reduction of about 29.8%[29] - Financial expenses for Q1 2020 were CNY 121,211,206.03, a decrease from CNY 169,618,308.76, reflecting a reduction of approximately 28.5%[29] - The company incurred operating expenses of approximately ¥2.34 billion in Q1 2020, down from ¥3.80 billion in the same period last year, reflecting cost control measures[36] Shareholder and Equity Information - The net assets attributable to shareholders were ¥10,547,661,749.87, a slight increase of 0.60% compared to the end of the previous year[4] - The total equity attributable to shareholders rose to CNY 10.55 billion, compared to CNY 10.48 billion, reflecting a growth of approximately 0.7%[25] - The company reported a total equity of 11,069,246,958.21 CNY, indicating a solid capital structure[42] Government and Regulatory Impact - The company reported a government subsidy of ¥16,866,208.67, which is included in the current period's profit[5] - Tax and additional charges decreased by 36.89%, mainly due to tax reductions during the pandemic[12] - The company reported a decrease of 36.36% in other income, mainly due to a reduction in government subsidies received[12] Changes in Management and Strategy - The chairman increased his shareholding by 8,905,380 shares, accounting for 0.215% of the total share capital, with a total investment of 41.30 million yuan at an average price of 4.64 yuan per share[14] - The company revised its non-public stock issuance plan and adjusted the investment amount for fundraising projects[13] - The company is implementing new revenue and lease standards starting in 2020, with no retrospective adjustments made[45]