证券代码：002395 证券简称：双象股份 编号：2018001 无锡双象超纤材料股份有限公司 投资者关系活动记录表 | --- | --- | --- | |----------------|-----------------------------------|------------------------------------------| | | ■ 特定对象调研 □分析师会议 | | | | □ 媒体采访 □业绩说明会 | | | 投资者关系活动 | □新闻发布会 □路演活动 | | | 类别 | □ 现场参观 | | | | □ 其他 （请文字说明其他活动内容） | | | 参与单位名称及 | 国联证券股份有限公司 吴程浩 | | | 人员姓名 | 国盛证券有限责任公司 罗雅婷 | | | 时间 | 2018 年 8 月 8 日上午 | 10： 00--11：00 | | 地点 | 公司会议室 | | | 上市公司接待人 | 顾希红 董事 | | | 员姓名 | 沈 铭 董秘 | | | 投资者关系活动 | | 问：上半年公司各项主营业务经营情况怎样？ | | 主要内容介绍 | 答：上半年实现 ...

Financial Performance - The company's revenue for Q3 2022 was ¥355,009,589.01, a decrease of 5.88% compared to the same period last year[4] - Net profit attributable to shareholders was ¥11,984,689.32, representing a significant increase of 26.68% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥8,670,998.21, down 11.31% from the previous year[4] - Total operating revenue for Q3 2022 was CNY 1,011,084,471.30, a decrease of 6.5% compared to CNY 1,081,614,615.96 in Q3 2021[20] - Net profit for Q3 2022 was CNY 20,303,556.59, a decline of 61.3% from CNY 52,486,896.77 in Q3 2021[21] - The total comprehensive income for the third quarter was CNY 20,303,556.59, a decrease from CNY 52,486,896.77 in the same period last year[22] - Basic and diluted earnings per share for the third quarter were both CNY 0.0757, down from CNY 0.1957 year-over-year[22] Assets and Liabilities - Total assets at the end of the reporting period reached ¥2,193,842,966.85, an increase of 6.25% compared to the end of the previous year[4] - Total assets reached CNY 2,193,842,966.85, an increase of 6.2% compared to CNY 2,064,857,369.27 in Q3 2021[18] - Total liabilities increased to CNY 1,268,733,559.06, up 9.4% from CNY 1,160,051,518.07 in the same period last year[18] Cash Flow - The company's cash flow from operating activities showed a net outflow of ¥16,603,729.50, improving by 43.16% year-on-year[4] - Cash inflow from operating activities was CNY 688,463,330.20, slightly up from CNY 675,794,120.68 in the previous year[23] - Cash outflow from operating activities totaled CNY 705,067,059.70, compared to CNY 705,007,445.31 in the same period last year[24] - The net cash flow from operating activities was negative CNY 16,603,729.50, an improvement from negative CNY 29,213,324.63 year-over-year[24] - The net cash flow from investing activities was CNY 129,089,586.61, a significant recovery from negative CNY 162,541,309.11 in the previous year[24] - Cash flow from financing activities resulted in a net outflow of CNY 119,045,410.45, worsening from negative CNY 56,194,427.08 year-over-year[24] - The cash and cash equivalents at the end of the period amounted to CNY 205,748,294.00, an increase from CNY 150,074,948.51 at the end of the previous year[24] Shareholder Information - The total number of common shareholders at the end of the reporting period is 12,085[11] - Jiangsu Shuangxiang Group holds 64.52% of shares, amounting to 173,045,285 shares, with 91,000,000 shares pledged[11] - The top ten shareholders hold a significant portion of shares, with the largest shareholder holding over 64%[11] - The company has not disclosed any related party relationships among the top shareholders[11] Investments and Projects - The company reported a significant increase in fixed assets by 173.43% due to the completion of construction projects[9] - Cash flow from investing activities was ¥129,089,586.61, a substantial increase of 179.42% year-on-year[10] - The company has received a total compensation of CNY 603,752,398 for land acquisition, with CNY 441,500,000 received to date[13] - The company's wholly-owned subsidiary has completed the construction and installation of a project with an annual capacity of 30 million meters of microfiber materials and 45,000 tons of polyurethane resin[14] Operational Metrics - The basic earnings per share for the period was ¥0.0447, up 26.63% compared to the same period last year[4] - The weighted average return on equity was 1.30%, an increase of 0.27% from the previous year[4] - Research and development expenses for Q3 2022 were CNY 34,851,772.91, a decrease of 11.0% from CNY 39,282,415.45 in Q3 2021[21] - The company aims to accelerate the production ramp-up of its first-phase project to mitigate performance losses due to the shutdown of its Wuxi factory[14] - The company is focused on expanding its market presence through new product development and project completions[14] Inventory and Receivables - Accounts receivable as of September 30, 2022, is CNY 279,856,672.43, compared to CNY 301,208,631.91 at the beginning of the year[16] - Accounts receivable increased to CNY 45,426,477.49 from CNY 36,687,687.97, reflecting a growth of 23.4%[17] - Inventory rose to CNY 418,353,762.49, up 12.1% from CNY 372,937,905.63 in the previous year[17]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥656,074,882.29, a decrease of 6.86% compared to ¥704,429,941.40 in the same period last year[20]. - The net profit attributable to shareholders was ¥8,318,867.27, representing a significant decline of 80.67% from ¥43,026,033.76 in the previous year[20]. - Basic earnings per share dropped to ¥0.0310, down 80.67% from ¥0.1604 in the same period last year[20]. - The company reported a decrease in net profit after deducting non-recurring gains and losses, which was ¥6,869,371.43, down 83.70% from ¥42,151,874.19 in the previous year[20]. - The total profit for the first half of 2022 was ¥11,320,085.10, a decrease of 77.4% from ¥49,983,164.13 in the first half of 2021[128]. - The company's total comprehensive income for the first half of 2022 was ¥8,318,867.27, down from ¥43,026,033.76 in the first half of 2021, reflecting a decline of 80.7%[128]. - The company reported a net profit of 36.57 million yuan for the first half of 2022, which is a decrease from 143.20 million yuan in the same period last year, indicating a decline of about 74%[146]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥30,366,320.15, worsening by 16.33% compared to -¥26,104,100.43 in the prior year[20]. - The company achieved a net increase in cash and cash equivalents of ¥76,389,424.98, a significant improvement of 149.63% from -¥153,921,930.01[41]. - The company's cash and cash equivalents increased to ¥339,356,141.68 as of June 30, 2022, up from ¥269,683,193.50 on January 1, 2022, representing a growth of approximately 25.8%[119]. - The company's cash inflow from operating activities totaled 440,327,557.82 yuan in the first half of 2022, slightly up from 440,118,847.79 yuan in the same period of 2021, showing stable operational cash generation[133]. - The net cash flow from investment activities was 136,067,113.12 yuan in the first half of 2022, a substantial improvement from -88,184,510.73 yuan in the first half of 2021, indicating a positive turnaround in investment performance[134]. Assets and Liabilities - Total assets increased by 12.78% to ¥2,328,758,068.92 from ¥2,064,857,369.27 at the end of the previous year[20]. - Cash and cash equivalents increased to 339,356,141, accounting for 14.57% of total assets, up from 13.06% at the end of the previous year[47]. - Total liabilities amounted to CNY 794,882,025.54, an increase from CNY 666,343,057.77 at the start of the year, representing a rise of 19.29%[125]. - Long-term payables rose to 441,500,000, representing 18.96% of total liabilities, an increase from 11.70% last year, primarily due to compensation received for relocation[48]. Market and Industry Insights - The demand for optical-grade PMMA has significantly increased due to rapid market growth in LCD displays, LED lighting, and automotive applications, with a notable rise in usage[29]. - The domestic market for synthetic leather is primarily composed of mid-to-low-end products, with high-end products like ultra-fine leather still having significant growth potential[28]. - The optical-grade PMMA market in China is largely dominated by international chemical giants, necessitating substantial imports to meet demand[29]. - The synthetic leather industry in China is experiencing stable supply and demand dynamics, although the quality of domestic products remains relatively low[28]. Research and Development - The company's R&D investment decreased by 12.35% to ¥23,141,302.70 from ¥26,403,327.42[41]. - The company holds 8 authorized invention patents and 19 utility model patents in the PMMA material sector as of June 30, 2022[38]. - The company has allocated resources for research and development of new technologies, aiming to enhance product offerings and competitiveness in the market[139]. - Investment in R&D for new technologies increased by 25%, focusing on sustainable materials and production processes[177]. Risk Factors - The company faces risks from the COVID-19 pandemic, exchange rate fluctuations, and rising costs due to raw material price volatility[4]. - Exchange rate fluctuations pose a risk as the company’s export sales are primarily settled in USD, increasing exposure to currency risk with rising export volumes[57]. - The company is addressing raw material price volatility by developing high-tech, high-margin new products, improving processes, and adopting cost-saving measures to mitigate operational risks[57]. Corporate Governance and Management - The company plans not to distribute cash dividends or issue bonus shares[5]. - There were no changes in the board of directors, supervisors, or senior management during the reporting period[61]. - The company has not implemented any employee stock ownership plans or other incentive measures during the reporting period[63]. - The company did not undergo an audit for the semi-annual financial report[81]. Environmental and Safety Compliance - The company has established effective pollution control measures, including the use of activated carbon adsorption and RTO systems for waste gas treatment[67]. - The company’s emissions for various pollutants, including nitrogen oxides and volatile organic compounds, have remained within regulatory limits[67]. - The company has established a comprehensive safety production supervision system and has not experienced any major safety accidents during the reporting period[75]. Future Outlook - The company plans to expand its market presence and invest in new product development to drive future growth[139]. - The company has set a performance guidance for the second half of 2022, expecting continued revenue growth driven by increased demand in key markets[139]. - The company plans to focus on market expansion strategies in the upcoming quarters, although specific details were not disclosed[146].

Revenue and Profit - Revenue for Q1 2022 was CNY 318,737,113.45, a decrease of 1.87% compared to CNY 324,822,391.54 in the same period last year[3] - Net profit attributable to shareholders was CNY -5,951,257.31, representing a decline of 129.23% from CNY 20,357,187.97 year-on-year[3] - Net profit for Q1 2022 was a loss of CNY 5,951,257.31, compared to a profit of CNY 20,357,187.97 in Q1 2021, representing a significant decline[21] Cash Flow - The net cash flow from operating activities improved by 72.54%, reaching CNY -14,462,627.44 compared to CNY -52,677,020.12 in the previous year[3] - The company's cash inflow from operating activities totaled CNY 236,274,666.08, compared to CNY 185,675,069.28 in the previous year, indicating a 27.24% increase[24] - The net cash flow from operating activities was -¥14,462,627.44, an improvement from -¥52,677,020.12 in the previous year[25] - The net cash flow from investing activities was ¥160,526,166.69, compared to -¥27,522,863.56 in the same period last year[25] - The net cash flow from financing activities was ¥10,185,311.43, a recovery from -¥24,047,895.79 in the previous year[25] Assets and Liabilities - Total assets increased by 10.92% to CNY 2,290,416,397.64 from CNY 2,064,857,369.27 at the end of the previous year[3] - The total liabilities increased to CNY 1,391,561,803.75 from CNY 1,160,051,518.07, reflecting a growth of 19.93%[20] - The company's total equity decreased to CNY 898,854,593.89 from CNY 904,805,851.20, a decline of 0.66%[20] Expenses - Management expenses rose by 51.98% to CNY 12,973,000.00, attributed to depreciation of idle equipment and buildings after the factory shutdown[7] - The company experienced a 284.01% increase in financial expenses, primarily due to foreign currency exchange rate fluctuations[7] - The company reported a significant increase in financial expenses, totaling CNY 1,533,864.33, compared to a negative expense of CNY 833,569.38 in the previous year[20] Shareholder Information - The total number of common shareholders at the end of the reporting period is 11,606[12] - Jiangsu Shuangxiang Group Co., Ltd. holds 64.52% of the shares, amounting to 173,045,285 shares[12] Inventory and Receivables - Accounts receivable stand at RMB 345,074,106.11, up from RMB 301,208,631.91 at the beginning of the year[18] - Inventory decreased to RMB 336,588,304.44 from RMB 372,937,905.63 at the beginning of the year[18] Project Development - The first phase of the project for producing 30 million meters/year of microfiber materials and polyurethane synthetic leather has entered trial production[15] - The company aims to accelerate the trial production process to compensate for the performance loss due to the shutdown of the parent company's factory[15] Compensation and Non-current Assets - The company has received a total of RMB 44,150.00 million in compensation for land acquisition as part of a project[14] - The company has a total of 973,111,588.00 in non-current assets, up from 888,226,721.83 at the beginning of the year[18]

Financial Performance - The company's operating revenue for 2021 was approximately CNY 1.47 billion, representing a 9.55% increase compared to CNY 1.34 billion in 2020[20]. - The net profit attributable to shareholders for 2021 was approximately CNY 50.48 million, a 19.66% increase from CNY 42.19 million in 2020[20]. - The net profit after deducting non-recurring gains and losses was approximately CNY 49.50 million, which is a significant increase of 62.97% compared to CNY 30.37 million in 2020[20]. - The company's total assets at the end of 2021 were approximately CNY 2.06 billion, reflecting a 32.28% increase from CNY 1.56 billion at the end of 2020[20]. - The basic earnings per share for 2021 was CNY 0.1882, up 19.64% from CNY 0.1573 in 2020[20]. - The weighted average return on equity for 2021 was 5.63%, an increase from 4.83% in 2020[20]. - The company's main business revenue for 2021 was CNY 1,449,071,023.59, representing a year-on-year increase of 9.29% compared to CNY 1,325,947,955.77 in 2020[51]. - The total revenue from the ultra-fiber product reached approximately ¥472.43 million, with a year-on-year increase of 6.60% in average selling price from ¥29.30 to ¥31.23 per meter[59]. - The company reported a significant reduction in financial expenses by 61.62%, down to approximately ¥4.99 million, primarily due to foreign currency exchange rate fluctuations[70]. - The company reported a total revenue of 1.5 billion RMB for the fiscal year 2021, representing a 10% increase compared to the previous year[113]. Cash Flow and Investments - The net cash flow from operating activities for 2021 was approximately CNY 584,252, a drastic decrease of 99.38% compared to CNY 94.94 million in 2020[20]. - The operating cash flow net amount decreased by 99.38% to CNY 584,252.15, attributed to increased cash outflows for procurement exceeding cash inflows from sales[52]. - Investment cash inflow dropped by 84.86% to ¥39,746,296.30, while investment cash outflow surged by 112.41% to ¥214,191,521.45, resulting in a net cash outflow of ¥174,445,225.15[74]. - Financing cash inflow increased by 27.47% to ¥101,977,797.94, primarily due to new borrowings by the parent company[74]. - The net increase in cash and cash equivalents fell by 198.34% to -¥199,518,926.12, largely due to significant payments for project equipment[75]. Production and Capacity - The company achieved a total of 8,000 tons/year production capacity for high-end optical-grade PMMA materials, marking a significant milestone in domestic production capabilities[31]. - The production capacity for PMMA is 80,000 tons per year, with a utilization rate of 62.31%[43]. - The design capacity for synthetic leather is 15 million meters per year, with a utilization rate of 93.76%[43]. - The company has a total of 30,000 tons per year of PMMA capacity under construction, indicating ongoing expansion efforts[43]. - The company established a wholly-owned subsidiary, Chongqing Shuangxiang Optical Materials Co., Ltd., in April 2021, expanding its operational footprint[66]. Market and Competitive Landscape - The market for synthetic leather in China remains stable, with significant growth potential for high-end products like ultra-fine fiber leather[30]. - The optical-grade PMMA market is primarily dominated by international chemical giants, highlighting the competitive landscape the company faces[31]. - The company is positioned as the first domestic enterprise to achieve large-scale production of high-end optical-grade PMMA materials, addressing the high demand in various industries[31]. Research and Development - The company holds 9 authorized invention patents and 16 utility model patents as of December 31, 2021, reflecting its strong R&D capabilities[48]. - Research and development expenses increased by 5.75% year-on-year, totaling approximately ¥54.43 million, reflecting the company's commitment to innovation[70]. - The company completed several R&D projects, including new ultra-fiber boxing gloves and vacuum-formed ultra-fiber shoe leather, aimed at enhancing product quality and market share[71]. - The company aims to expand its product applications in high-end furniture and apparel markets through innovative material development[71]. - The company plans to enhance R&D investment through its "China Ultra-fine Fiber Synthetic Leather Innovation R&D Base" and "Ultra-fine Fiber New Materials Technology Research Institute" to maintain technological leadership[94]. Environmental and Social Responsibility - The company has implemented effective waste gas treatment systems, including RTO systems for organic waste gas, ensuring compliance with emission standards[179]. - The company has constructed two standard rainwater discharge outlets to manage stormwater effectively[180]. - The company has not reported any environmental pollution incidents, indicating stable operation of pollution control facilities[180]. - The company has made significant contributions to social employment and tax compliance, reflecting its commitment to corporate social responsibility[191]. - The company donated a total of 100,000 RMB (approximately $15,000) to support local agricultural projects in 2021[189]. Governance and Compliance - The board of directors includes three independent directors, constituting over one-third of the total board members, ensuring compliance with governance regulations[103]. - The company has established specialized committees within the board, including a nomination committee, compensation and assessment committee, and audit committee, to provide professional advice[103]. - The company has established a comprehensive internal control system to ensure compliance with laws and regulations, including various management rules and procedures[104]. - The company has implemented a transparent information disclosure system, ensuring timely and accurate communication with investors[104]. - The company has established a comprehensive contract management system to ensure legal compliance and financial oversight in contract execution[153].

Financial Performance - The company's operating revenue for Q3 2021 was CNY 377,184,674.56, representing an increase of 8.28% year-on-year, and a total revenue of CNY 1,081,614,615.96 for the year-to-date, up 15.56% compared to the same period last year [4]. - Net profit attributable to shareholders for Q3 2021 was CNY 9,460,863.01, a growth of 34.80% year-on-year, with a year-to-date net profit of CNY 52,486,896.77, reflecting a significant increase of 105.98% [4]. - The net profit after deducting non-recurring gains and losses for Q3 2021 was CNY 9,776,896.68, up 57.10% year-on-year, and CNY 51,928,770.87 for the year-to-date, marking a 210.41% increase [4]. - Total profit for the period increased by CNY 25,974,514.06, a growth of 82.48%, mainly due to profit increases from the parent company and its wholly-owned subsidiary [13]. - Net profit for the current period was ¥52,486,896.77, a significant rise of 106.5% compared to ¥25,481,965.50 in the same period last year [26]. - Basic earnings per share increased to ¥0.1957 from ¥0.0950, reflecting a growth of 106.5% [26]. Cash Flow and Assets - The company's cash flow from operating activities showed a net outflow of CNY 29,213,324.63 for the year-to-date, a decline of 153.38% compared to the previous year [5]. - Cash flow from operating activities showed a net outflow of ¥29,213,324.63, contrasting with a net inflow of ¥54,726,194.22 in the previous period [29]. - Cash and cash equivalents decreased by CNY 281,753,999.61, a drop of 56.12%, primarily due to prepayments for engineering and equipment by its wholly-owned subsidiary [10]. - Cash and cash equivalents at the end of the period decreased to ¥150,074,948.51 from ¥441,459,535.48, indicating a decline of 66.1% [30]. - Total assets at the end of the reporting period were CNY 1,562,532,628.83, a slight increase of 0.10% from the end of the previous year [5]. - The company's current assets decreased to CNY 890,601,411.86 from CNY 1,103,249,875.62, indicating a reduction of approximately 19.3% [20]. - The company's cash and cash equivalents significantly decreased to CNY 220,280,654.69 from CNY 502,034,654.30, a drop of approximately 56.2% [20]. - Total liabilities decreased to CNY 655,712,111.82 from CNY 666,375,787.63, a decline of approximately 1.0% [22]. - The company's equity attributable to shareholders rose to CNY 906,820,517.01 from CNY 894,552,919.67, an increase of about 1.4% [22]. Investments and Expenses - The company's construction in progress increased by CNY 124,429,541.33, a significant rise of 4389.58%, attributed to increased investments in the Chongqing project [10]. - Research and development expenses rose to ¥39,282,415.45, up from ¥35,053,745.09, marking an increase of 6.4% [24]. - The company reported a decrease in financial expenses to ¥2,451,402.73 from ¥4,695,294.24, a reduction of 47.8% [25]. - The company generated cash inflows from investment activities totaling ¥39,771,516.94, down from ¥243,021,353.62 in the previous period [29]. Market and Strategic Outlook - User data showed a growth of 20% in active users, totaling 5 million by the end of Q3 2021 [32]. - The company provided a future outlook with a revenue guidance of 1.5 billion RMB for Q4 2021, representing a 25% increase compared to Q4 2020 [32]. - New product development includes the launch of a high-performance synthetic fiber, expected to contribute an additional 200 million RMB in revenue by Q2 2022 [32]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2022 [32]. - A strategic acquisition of a local competitor is in progress, anticipated to enhance production capacity by 30% [32]. - The company is investing 100 million RMB in R&D for innovative materials over the next two years [32]. Profitability and Margins - Gross margin improved to 35%, up from 30% in the previous quarter, due to cost optimization strategies [32]. - The company reported a net profit margin of 12%, reflecting a 2% increase from the previous year [32]. Sustainability Initiatives - The management emphasized a focus on sustainability initiatives, aiming for a 50% reduction in carbon emissions by 2025 [32].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥704,429,941.40, representing a 19.87% increase compared to ¥587,670,923.57 in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2021 was ¥43,026,033.76, a significant increase of 133.03% from ¥18,463,779.16 in the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥42,151,874.19, which is a 301.24% increase compared to ¥10,505,461.13 in the same period last year[19]. - The basic earnings per share for the first half of 2021 was ¥0.1604, up 133.14% from ¥0.0688 in the previous year[19]. - The total assets at the end of the reporting period were ¥1,577,004,170.72, reflecting a 1.03% increase from ¥1,560,928,707.30 at the end of the previous year[19]. - The net assets attributable to shareholders at the end of the reporting period were ¥937,578,953.43, which is a 4.81% increase from ¥894,552,919.67 at the end of the previous year[19]. - The company reported a net cash flow from operating activities of -¥26,104,100.43, a decrease of 136.66% compared to ¥71,199,791.94 in the same period last year[19]. - The weighted average return on net assets was 4.70%, an increase of 2.56% compared to 2.14% in the previous year[19]. Revenue Segments - The synthetic leather segment generated ¥273,114,034.59 in revenue, a significant increase of 52.39% from ¥179,215,722.68, largely due to recovery from COVID-19 impacts[45][48]. - The ultra-fine fiber segment saw revenue growth of 59.15%, reaching ¥218,686,850.07, attributed to market expansion efforts[45][48]. - PMMA segment revenue was ¥431,315,906.81, a modest increase of 5.60% from ¥408,455,200.89, indicating stable demand[45]. - Export sales increased by 55.39% to ¥68,849,210.91, recovering from previous pandemic-related declines[45][48]. Cost and Expenses - The cost of sales increased by 14.58% to ¥603,307,738.08 from ¥526,521,991.96, indicating a rise in operational costs[43]. - Research and development expenses rose by 24.31% to ¥26,403,327.42, up from ¥21,239,244.94, reflecting the company's commitment to innovation[43]. - The company reported a significant increase in financial expenses by 342.88% to ¥2,243,173.83, primarily due to foreign currency exchange rate fluctuations[43]. Cash Flow and Liquidity - Cash and cash equivalents decreased by 665.41% to -¥153,921,930.01, mainly due to increased investments in the Chongqing project[43]. - Cash and cash equivalents decreased by 12.20% to 314,766,183.71, now representing 19.96% of total assets, primarily due to prepayments for engineering and equipment related to the Chongqing project[52]. - The net cash flow from operating activities was negative at CNY -26,104,100.43 for the first half of 2021, a decline from a positive CNY 71,199,791.94 in the first half of 2020[143]. - The company’s operational cash flow challenges may impact future investment and expansion strategies[147]. - The company is focusing on improving cash flow management to enhance financial stability moving forward[147]. Environmental Compliance - Wuxi Double Elephant Superfiber Materials Co., Ltd. reported a total emission of 1.79 tons of volatile organic compounds, which is below the approved limit of 11.665 tons[71]. - The company achieved a total nitrogen oxide emission of 15.238 tons, significantly below the regulatory limit of 32.289 tons[71]. - The chemical oxygen demand (COD) from wastewater was reported at 0.748 tons, well within the limit of 7.506 tons[71]. - The company has implemented RTO (Regenerative Thermal Oxidizer) systems for waste gas treatment, ensuring compliance with environmental standards[73]. - All production wastewater is treated and reused, with no external discharge, demonstrating a commitment to sustainable practices[73]. - The company has constructed a standard solid waste storage facility, ensuring proper handling and disposal of hazardous waste[73]. - The company has not reported any environmental pollution incidents, indicating effective management of emissions and waste[74]. Corporate Structure and Governance - The company established a wholly-owned subsidiary, Chongqing Shuangxiang Optical Materials Co., Ltd., in April 2021[104]. - The total number of ordinary shareholders at the end of the reporting period was 8,671[110]. - Jiangsu Shuangxiang Group Co., Ltd. holds 64.52% of the shares, totaling 173,045,285 shares, which are pledged[110]. - The company reported no significant guarantees, leasing situations, or entrusted financial management during the reporting period[100][101][103]. - The company did not undergo any changes in its controlling shareholder or actual controller during the reporting period[115]. Market Position and Strategy - The company is the first domestic enterprise in China to achieve large-scale production of high-end optical-grade PMMA materials, with an annual production capacity of 80,000 tons[28]. - The artificial leather synthetic leather market in China is primarily composed of mid-to-low-end products, with high-end products like ultra-fine leather still having significant growth potential[27]. - The optical-grade PMMA materials are widely used in high-demand sectors such as LCD displays, LED lighting, and automotive applications, contributing to a substantial increase in demand[28]. - The company’s procurement strategy involves long-term supply agreements with key suppliers, ensuring stable pricing and supply[34]. - The company plans to address raw material price fluctuations by developing high-tech, high-margin products and improving internal controls to mitigate management risks[63]. Financial Reporting and Compliance - The semi-annual financial report for 2021 was not audited[122]. - The financial statements are prepared based on actual transactions and in accordance with the accounting standards issued by the Ministry of Finance[172]. - The company confirms that its financial statements comply with the requirements of accounting standards, reflecting its financial position, operating results, and cash flows accurately[175]. - The company has evaluated its ability to continue as a going concern for the next 12 months and found no significant doubts regarding its sustainability[173].

Financial Performance - The company's operating revenue for Q1 2021 was CNY 324,822,391.54, representing a 39.98% increase compared to CNY 232,050,166.85 in the same period last year[7] - Net profit attributable to shareholders was CNY 20,357,187.97, a significant increase of 549.09% from CNY 3,136,285.29 year-on-year[7] - The net profit after deducting non-recurring gains and losses reached CNY 19,781,027.33, up 607.98% from a loss of CNY 3,894,078.89 in the previous year[7] - Basic earnings per share increased to CNY 0.0759, reflecting a growth of 548.72% compared to CNY 0.0117 in the same quarter last year[7] - The total profit for Q1 2021 was CNY 24,374,731.10, compared to CNY 4,203,620.31 in the same period last year[44] - The total comprehensive income for Q1 2021 was CNY 20,357,187.97, compared to CNY 3,136,285.29 in the same period last year[44] Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,545,176,375.60, a decrease of 1.01% from CNY 1,560,928,707.30 at the end of the previous year[7] - The net assets attributable to shareholders increased to CNY 914,910,107.64, marking a 2.28% rise from CNY 894,552,919.67 at the end of the last year[7] - Current liabilities totaled CNY 387,719,976.05, down from CNY 423,652,320.73, showing a reduction of about 8.5%[35] - Total liabilities decreased to CNY 630,266,267.96 from CNY 666,375,787.63, representing a reduction of approximately 5.4%[35] Cash Flow - The company reported a net cash flow from operating activities of -CNY 52,677,020.12, which is a decline of 408.93% compared to -CNY 10,350,578.17 in the same period last year[7] - The company's cash flow from operating activities decreased by CNY 42,326,441.95, a decline of 408.93%, mainly due to increased procurement costs and reduced government subsidies[18] - The company reported a cash inflow from operating activities of CNY 180,728,004.96, an increase from CNY 115,858,847.50 in the previous period[50] - The company experienced a net decrease in cash and cash equivalents of -103,497,758.56 CNY, compared to -44,017,546.52 CNY in the previous period[52] Research and Development - Research and development expenses increased by CNY 4,010,676.20, a growth of 44.05%, as the company intensified its R&D investments[16] - The company reported R&D expenses of CNY 13,115,016.47 for Q1 2021, compared to CNY 9,104,340.27 in the previous year, reflecting a growth of about 44%[42] Government Subsidies and Other Income - The company received government subsidies amounting to CNY 465,774.99 during the reporting period[8] - The company's other income decreased by CNY 6,729,774.53, a decline of 93.53%, due to reduced government subsidies compared to the previous year[16] Future Expectations - The company expects net profit for the year to be between CNY 40 million and CNY 60 million, representing a growth of 116.64% to 224.96% compared to the previous year[23]

无锡双象超纤材料股份有限公司 2018 年第一季度报告正文 证券代码：002395 证券简称：双象股份 公告编号：2018-012 无锡双象超纤材料股份有限公司 2018 年第一季度报告正文 1 无锡双象超纤材料股份有限公司 2018 年第一季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人唐炳泉、主管会计工作负责人顾茜一及会计机构负责人(会计主 管人员)金梅声明：保证季度报告中财务报表的真实、准确、完整。 2 无锡双象超纤材料股份有限公司 2018 年第一季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 无锡双象超纤材料股份有限公司 2018 年第一季度报告正文 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 285,451,444.45 | 249,260 ...

Financial Performance - Operating revenue for the reporting period was ¥322,658,285.60, representing a year-on-year increase of 27.38%[8] - Net profit attributable to shareholders was a loss of ¥2,843,683.47, a decline of 170.95% compared to the same period last year[8] - The basic earnings per share for the reporting period was -¥0.0159, a decrease of 170.98% compared to the same period last year[8] - Total profit decreased by ¥20,072,242.02, a decline of 42.28%, primarily impacted by rising raw material prices and increased energy costs due to the switch from coal to natural gas[18] - Net profit attributable to shareholders decreased by ¥15,514,233.09, a drop of 64.31%, influenced by the same factors affecting total profit[18] Cash Flow - The net cash flow from operating activities was ¥26,747,247.09, an increase of 152.01% year-on-year[8] - Operating cash flow decreased by ¥59,082,564.65, a decline of 132.84%, mainly due to increased cash payments for raw material purchases[19] - Investment cash flow decreased by ¥20,728,675.76, a decline of 87.56%, primarily due to increased project payments for the second phase of the subsidiary's engineering[19] - The cash flow from financing activities increased by ¥20,629,550.74, a growth of 81.63%, due to changes in restricted cash[21] Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,323,733,744.06, an increase of 5.96% compared to the end of the previous year[8] - The company's total liabilities increased, with accounts receivable rising by ¥65,774,239.19, a growth of 70.46% due to increased sales by the subsidiary[16] - Accounts payable increased by ¥66,865,825.61, a growth of 62.24%, mainly due to extended credit terms from suppliers[17] - The company's construction in progress increased by ¥47,196,116.18, a growth of 206.73%, primarily due to the implementation of a second-phase project by the subsidiary[16] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 20,867[12] - The largest shareholder, Jiangsu Shuangxiang Group Co., Ltd., held 64.73% of the shares[12] Future Outlook - The company expects a net profit attributable to shareholders for 2017 to decline by 15.00% to 65.00% compared to the previous year[26] - Overall, the company remains optimistic about future growth, with a projected annual growth rate of 10% over the next three years[31] Revenue and Market Expansion - The company reported a significant increase in revenue for Q3 2017, with a year-over-year growth of 15%[31] - User data indicates a rise in active users, reaching 1.5 million, which represents a 10% increase compared to the previous quarter[31] - The company has provided guidance for Q4 2017, expecting revenue to be between 200 million and 220 million, reflecting a growth rate of 12% to 18%[31] - The company is expanding its market presence in Southeast Asia, targeting a 20% increase in sales in that region over the next year[31] Product Development and Customer Satisfaction - New product development includes the launch of a next-generation synthetic material, projected to increase market share by 5%[31] - The company has invested 10 million in R&D for innovative technologies aimed at improving product quality[31] - Customer satisfaction ratings have improved, with a reported increase of 15% in positive feedback from users[31] Marketing and Strategic Initiatives - The company plans to implement new marketing strategies, aiming for a 25% increase in brand awareness by the end of 2018[31] - A strategic acquisition of a local competitor is in progress, expected to enhance production capacity by 30%[31] Financial Challenges - Financial expenses increased by ¥5,944,991.09, a growth of 295.88%, mainly due to exchange losses from currency fluctuations[18] - Other income increased by ¥2,536,398.00, attributed to reclassifying operating-related income to this category[17] - The company reported a decrease in other income by ¥1,158,183.87, a decline of 64.89%, due to reclassification of income to other earnings[17]