云南临沧鑫圆锗业股份有限公司 2022 年第三季度报告 证券代码：002428 证券简称：云南锗业 公告编号：2022-051 云南临沧鑫圆锗业股份有限公司 2022 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 3.第三季度报告是否经过审计 □是 否 1 云南临沧鑫圆锗业股份有限公司 2022 年第三季度报告 一、主要财务数据 （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 □是 否 | --- | --- | --- | --- | --- | |------------------------------------------------------|------------------|------------------------ ...

云南临沧鑫圆锗业股份有限公司 2022 年半年度报告全文 云南临沧鑫圆锗业股份有限公司 2022 年半年度报告 2022 年 8 月 1 云南临沧鑫圆锗业股份有限公司 2022 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 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。 公司负责人包文东、主管会计工作负责人张杰及会计机构负责人(会计主 管人员)王先琴声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 | --- | |--------------------------------------------------------------------| | | | 本报告所涉公司未来计划等前瞻性陈述，属于计划性事项，不构成公司 | | 对任何投资者及相关人士的实质承诺，能否实现取决于市场状况变化、经营 | | 团队的努力程度等多种因素，存在较大不确定性，投资者及相关人士均应当 | | 对此保持足够的风险认识，并且应当理解计划、预测与承诺之间的差异。 | ...

Revenue and Profit - The company's revenue for Q1 2022 was ¥150,700,459.86, representing a 37.91% increase compared to ¥109,278,181.93 in the same period last year[8] - Net profit attributable to shareholders decreased by 43.72% to ¥8,735,778.55 from ¥15,522,585.11 year-on-year[10] - The total comprehensive income attributable to the parent company's owners was 8,735,778.55, compared to 15,522,585.11 in the previous period, reflecting a decrease of approximately 43.3%[48] - Net profit for the current period was CNY 15,136,535.65, compared to CNY 20,683,773.89 in the previous period, reflecting a decrease of approximately 26.8%[44] Cash Flow - Operating cash flow decreased significantly by 96.78% to ¥2,437,457.55 from ¥75,766,036.68 in the same period last year[8] - Net cash flow from operating activities dropped by 96.78% compared to the same period last year, mainly attributed to the decrease in government subsidies[25] - Cash inflow from operating activities totaled 183,450,421.11, compared to 262,035,370.01 in the previous period, representing a decrease of about 30%[52] - The cash outflow from operating activities was 181,012,963.56, slightly lower than 186,269,333.33 in the previous period, showing a decrease of approximately 2.4%[52] - The cash flow from financing activities generated a net amount of 44,197,831.44, compared to 6,052,750.85 in the previous period, indicating a substantial increase[55] Assets and Liabilities - The company's total assets increased by 1.82% to ¥2,391,712,880.27 from ¥2,348,876,914.48 at the end of the previous year[8] - Total liabilities increased to CNY 831,280,584.58 from CNY 803,665,904.43, which is an increase of about 3.4%[40] - Non-current liabilities totaled CNY 378,470,628.89, up from CNY 318,317,465.58, indicating a growth of approximately 18.9%[40] - The company's total equity increased to CNY 1,560,432,295.69 from CNY 1,545,211,010.05, reflecting a growth of approximately 1.0%[40] Expenses - The gross profit margin increased by 88.74%, while operating profit decreased by 15.09% due to rising operating expenses[9] - The company reported a 266.90% increase in income tax expenses, amounting to ¥1,630,923.63, due to higher taxable income[23] - Total operating costs amounted to CNY 145,422,548.43, up from CNY 117,230,160.36, indicating a rise of about 24.0%[41] - Research and development expenses increased by 18.12%, reflecting ongoing projects in solar cell technology[9] - Research and development expenses increased to CNY 6,106,625.87 from CNY 4,987,491.25, marking a rise of about 22.5%[44] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 57,887, with the top ten shareholders holding a combined 20.01% of shares[27] - The largest shareholder, Lincang Feixiang Smelting Co., Ltd., holds 13.72% of shares, with 42,400,000 shares pledged[27] Inventory and Cash Equivalents - Cash and cash equivalents at the end of the reporting period were ¥124,438,269.01, compared to ¥109,933,763.94 at the beginning of the year[34] - Inventory increased to ¥458,255,988.36 from ¥437,686,047.72 at the beginning of the year[34] - The company's cash and cash equivalents decreased, impacting liquidity, with short-term borrowings at CNY 327,070,437.87, down from CNY 339,986,834.43[40] - The cash and cash equivalents at the end of the period amounted to 61,984,963.90, down from 169,754,020.17 in the previous period, reflecting a decrease of approximately 63.5%[55]

Financial Performance - The company's operating revenue for 2021 was ¥556,481,927.27, a decrease of 16.95% compared to ¥670,039,629.14 in 2020[27]. - The net profit attributable to shareholders for 2021 was ¥13,961,935.98, down 38.31% from ¥22,632,038.83 in 2020[27]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥26,030,745.50, a significant decline of 3,280.62% compared to -¥770,000.05 in 2020[27]. - The net cash flow from operating activities was ¥112,514,113.01, a decrease of 9.82% from ¥124,771,164.47 in 2020[27]. - Basic earnings per share for 2021 were ¥0.02, a decrease of 50.00% from ¥0.04 in 2020[27]. - The weighted average return on equity for 2021 was 0.95%, down from 1.57% in 2020[27]. - The total operating revenue for 2021 was ¥556,481,927.27, a decrease of 16.95% compared to ¥670,039,629.14 in 2020[76]. - The net profit attributable to the parent company was approximately ¥13.96 million, down 38.31% from ¥22.63 million in 2020[59]. Assets and Liabilities - The total assets at the end of 2021 were ¥2,348,876,914.48, an increase of 5.86% from ¥2,218,799,682.21 at the end of 2020[27]. - The net assets attributable to shareholders at the end of 2021 were ¥1,470,134,036.90, up 1.03% from ¥1,455,083,196.48 at the end of 2020[27]. - The company's inventory increased by 42.64% year-on-year, with raw material inventory rising by 49.42% to mitigate the impact of rising raw material prices[118]. - Fixed assets at year-end amounted to 1,037,753,463.24 yuan, representing 44.18% of total assets, a decrease of 4.47% compared to the beginning of the year[118]. Revenue Sources and Product Performance - The sales revenue from material-grade germanium products remains the largest source of income, but the company is shifting focus towards downstream processing products[48]. - The revenue from material-grade germanium products increased by 56.27% to ¥237,935,882.70, accounting for 42.76% of total revenue[76]. - The company produced 34.25 tons of material-grade germanium products and 5.72 tons of infrared-grade germanium products, along with 20,000 photovoltaic-grade germanium wafers[66]. - The sales volume of material-grade germanium products increased by 26.72% year-on-year, reaching 33,795.52 kg, while production volume rose by 17.39% to 34,246.43 kg[92]. - The production volume of photovoltaic-grade germanium products decreased by 30.29% year-on-year, totaling 244,781 pieces (equivalent to 4 inches), due to a delay in a major customer's procurement plan[84]. Market and Industry Trends - The domestic fiber optic market showed signs of recovery in the second half of the year, increasing demand for germanium metal[42]. - The global consumption of germanium increased in 2021, driven by demand in infrared optics, fiber optics, electronics, and photovoltaics, with a notable recovery in the second half of the year[141]. - The company anticipates continued growth in the demand for germanium products, particularly in the solar energy sector, due to the rising need for satellite solar cells[145]. - The competitive landscape for germanium is expected to strengthen, with increasing demand from both military and civilian markets, despite potential short-term fluctuations in market demand[146]. Research and Development - The company increased R&D investment to CNY 42,857,205.89 in 2021, a 65.47% increase from CNY 25,901,051.29 in 2020, representing 7.70% of operating revenue[109]. - The company is developing high-purity germanium production technology to meet various fiber optic customer needs[101]. - The company completed the design and construction of an 8-inch solar cell-grade germanium single crystal pilot line, achieving key technical indicators[109]. - The company has initiated the closure of the Meizijinqing mine in compliance with national policies, which had a proven reserve of 76.36 tons of germanium metal[43]. Operational Challenges and Risks - The company faces price risk and customer concentration risk, with a high customer concentration still present despite a gradual decrease in recent years[167]. - The compound semiconductor materials require strict customer certification, which can take several months to over a year, potentially impacting sales if certifications are delayed[170]. - The company is exposed to product quality risks due to the complex growth environment of compound semiconductor crystals, which may lead to increased production costs and customer dissatisfaction[171]. - Environmental regulations are becoming stricter, increasing the operational pressure on the company to enhance its environmental protection measures and potentially raising costs[173]. Corporate Governance and Management - The board of directors consists of nine members, including three independent directors, ensuring compliance with legal requirements[189]. - The company maintains complete independence from its controlling shareholder in terms of business, personnel, assets, and finance[197]. - The company has established a fair and transparent employee performance evaluation and incentive mechanism[193]. - The company strictly follows information disclosure regulations, ensuring timely and accurate information dissemination[195].

Financial Performance - The company's operating revenue for Q3 2021 was ¥139,278,078.88, a decrease of 1.89% compared to the same period last year[5] - The net profit attributable to shareholders was -¥3,672,619.05, representing a decline of 222.21% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥7,441,831.36, a decrease of 3,345.11% compared to the previous year[5] - The company reported a significant decrease in sales revenue from main products, with semiconductor materials sales increasing revenue by ¥219.41 million, while other product categories saw declines[9] - The company experienced a 69.72% increase in net profit attributable to shareholders for the first nine months of 2021, totaling ¥15,363,535.81 compared to ¥9,052,219.16 in the same period last year[9] - Total operating revenue for the current period is ¥379,066,919.48, a decrease of approximately 24% from ¥498,505,239.11 in the previous period[52] - Net profit for the current period is ¥25,228,058.80, compared to ¥8,711,933.66 in the previous period, indicating a significant increase[55] - Total comprehensive income for the current period is ¥25,228,058.80, compared to ¥8,711,933.66 in the previous period[57] Assets and Liabilities - The total assets at the end of the reporting period were ¥2,414,978,428.81, an increase of 8.84% from the end of the previous year[5] - As of September 30, 2021, total assets amounted to CNY 2,414,978,428.81, an increase from CNY 2,218,799,682.21 at the end of 2020, reflecting a growth of approximately 8.85%[50] - The company reported a total liability of CNY 866,211,882.53, compared to CNY 682,529,834.90 in the previous year, marking an increase of around 27%[51] - Non-current liabilities rose to CNY 364,342,808.47 from CNY 139,764,243.00, showing a substantial increase of approximately 160.5%[51] - The total liabilities increased from CNY 682,529,834.90 to CNY 689,434,502.17, representing a rise of 1.3%[73] Cash Flow - The company's cash flow from operating activities for the year-to-date was ¥10,442,876.90, down 89.13% year-on-year[5] - Net cash flow from operating activities decreased by 89.13% compared to the same period last year, primarily due to an increase in cash outflows from operating activities[37] - The net cash flow from financing activities was CNY 30,039,994.51, a decrease of 61.8% compared to CNY 78,592,286.21 in the previous period[65] - Cash inflow from financing activities totaled ¥558,651,031.25, an increase from ¥398,665,527.78 in the previous period[62] Inventory and Deferred Income - The company's inventory increased by 53.66% compared to the beginning of the year, reaching ¥471,499,464.70[13] - Inventory at the end of the period increased by 53.66% compared to the beginning of the period, primarily due to a decrease in the geological grade of self-owned mines and an increase in purchased raw material inventory[17] - Deferred income increased significantly to CNY 186,259,855.67 from CNY 79,974,243.00, marking an increase of around 133.2%[50] - The company reported a 132.90% increase in deferred income, totaling ¥186,259,855.67 compared to ¥79,974,243.00 at the beginning of the year[13] Research and Development - Research and development expenses increased by 77.66% compared to the same period last year, primarily due to increased spending on research and development[28] - Research and development expenses increased to ¥22,490,373.57, up 77.5% from ¥12,659,105.06 in the previous period[52] Financing Activities - Total cash inflow from financing activities increased by 40.13% compared to the same period last year, mainly due to an increase in cash received from borrowings[36] - Total cash outflow from financing activities increased by 65.15% compared to the same period last year, primarily due to increased cash payments for debt repayment[36] Management and Other Expenses - The company’s management expenses rose to ¥47,553,043.18, an increase of 24.2% from ¥38,283,402.41 in the previous period[52] - Other income increased by 298.97% compared to the same period last year, mainly due to an increase in government subsidies related to income[29]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 239,788,840.60, a decrease of 32.75% compared to the same period last year[26] - The net profit attributable to shareholders was CNY 19,036,154.86, an increase of 214.80% year-on-year[26] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -4,215,771.29, a decrease of 241.58% compared to the previous year[26] - The net cash flow from operating activities was CNY 89,842,683.18, an increase of 37.23% compared to the same period last year[26] - Basic earnings per share were CNY 0.029, representing a 222.22% increase year-on-year[26] - The company's operating revenue for the current period is ¥239,788,840.60, a decrease of 32.75% compared to ¥356,542,049.28 in the same period last year[50] - The operating cost decreased by 36.46% to ¥195,993,519.02 from ¥308,480,791.25, primarily due to reduced trade business costs and improved product yield[50] - Research and development investment increased by 110.74% to ¥16,445,555.78, reflecting a focus on new technologies and materials[50] - The company reported a significant increase in other income, which rose by 608.03% to ¥28,105,545.14, mainly due to increased government subsidies[54] - The revenue from germanium materials decreased by 14.90%, while the revenue from infrared germanium products increased by 2.17%[60] - The revenue from photovoltaic-grade germanium products fell by 31.10%, but the gross margin improved by 7.27% due to higher product yield[60] - The company experienced a 99.81% decline in trade business revenue, primarily due to reduced trading activities[60] - The net increase in cash and cash equivalents was ¥72,519,303.84, a significant improvement compared to a decrease of ¥20,531,377.87 in the previous year[54] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,380,807,814.17, an increase of 7.30% from the end of the previous year[26] - The net assets attributable to shareholders at the end of the reporting period were CNY 1,476,329,150.88, an increase of 1.46% compared to the end of the previous year[26] - The company reported a total asset value of ¥2,384,000,000, with cash and cash equivalents amounting to ¥193,155,060.56, representing 8.11% of total assets, an increase from 6.27% in the previous year[62] - Accounts receivable increased to ¥135,369,152.06, accounting for 5.69% of total assets, up from 4.58% year-over-year, primarily due to sales on credit[62] - Inventory reached ¥350,182,816.19, which is 14.71% of total assets, compared to 13.83% in the previous year[62] - Fixed assets decreased to ¥1,049,498,646.61, representing 44.08% of total assets, down from 48.81% year-over-year[62] - The company recorded an asset impairment loss of ¥3,501,348.74, which accounted for -31.12% of total profit[61] - The company reported a significant increase in long-term borrowings to ¥171,590,000.00, which is 7.21% of total liabilities, up from 2.69% in the previous year[65] - Deferred income increased to ¥186,419,762.51, representing 7.83% of total liabilities, compared to 3.60% in the previous year, due to increased government subsidies[65] - The company’s short-term borrowings increased to ¥342,780,000.00, representing 14.40% of total liabilities, slightly down from 14.53% in the previous year[65] Production and Operations - The company produced 18.17 tons of material-grade germanium products, 3.15 tons of infrared-grade germanium products, and 13.20 million photovoltaic-grade germanium wafers during the reporting period[37] - The sales revenue from material-grade germanium products remains the largest contributor to the company's income, directly impacting profitability due to germanium price fluctuations[42] - The company has a total proven germanium metal reserve of 689.55 tons, with an additional 250 tons acquired through mining rights and equity acquisitions[42] - The production of compound semiconductor materials has been adjusted to focus on semi-insulating and low-dislocation products, leading to a significant reduction in LED-grade gallium arsenide wafer production[37] - The company has established a complete integrated germanium industry chain, enhancing raw material supply and reducing operational costs[47] - The production of infrared optical germanium lenses decreased due to stabilized demand following the pandemic, contrasting with the previous year's surge[37] - The company is the largest producer and supplier of germanium series products in China, holding a leading position in the industry[42] Environmental and Social Responsibility - The company reported a total waste discharge of 0.33 tons/year for domestic wastewater, with ammonia nitrogen (NH3-N) at 0.295 tons/year and chemical oxygen demand (COD) at 2.085 tons/year[101] - The company achieved a total emission of 52.02 tons/year for particulate matter, 442.17 tons/year for sulfur dioxide, and 124.848 tons/year for nitrogen oxides in 2021[104] - The company has not exceeded any emission standards for waste gas and wastewater discharge in 2021[104] - The company has implemented a lime-gypsum process for desulfurization, ensuring compliance with air pollution discharge standards[104] - The company is focused on improving its environmental performance and reducing emissions through technological upgrades and process improvements[107] - The company actively participates in social welfare activities, providing support for local education, culture, and poverty alleviation efforts, including job opportunities and skills training for impoverished households[138] Corporate Governance and Compliance - The company does not plan to distribute cash dividends or issue bonus shares[7] - The company faces various risks that may impact its operations, as detailed in the risk management section of the report[7] - The company has not engaged in any securities or derivative investments during the reporting period[75][76] - The company has not sold any major assets or equity during the reporting period[77] - The company has committed to fulfilling all promises made during the asset restructuring process, ensuring compliance with regulations[141] - The company has signed a non-competition agreement with its controlling shareholder, ensuring no direct or indirect competition in the production and sales of high-purity germanium products[144] - The controlling shareholder guarantees that all assets related to high-purity germanium production have been transferred to the company, and no other enterprises controlled by them will engage in similar activities[144] - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[149] - There were no significant litigation or arbitration matters during the reporting period[153] - The company has not experienced any violations of external guarantees during the reporting period[150] - The company has not reported any penalties or rectification measures during the reporting period[156] Management and Strategy - The company has committed to enhancing its management capabilities and internal control systems to support its rapid expansion[87] - The company has implemented strict safety production systems and training programs to enhance employee safety awareness and ensure compliance with safety measures[133] - The company has integrated environmental protection into performance evaluation metrics, reinforcing the importance of environmental awareness among all employees[134] - The company has established a dedicated safety and environmental protection department to manage environmental compliance and pollution control, ensuring all indicators meet national and local standards[134] - The company has a three-year plan to promote "corporate safety culture," focusing on comprehensive construction and management innovation to enhance safety[133] - The company has committed to maintaining investor relations by establishing a dedicated management team to address investor inquiries and ensure transparency[132]

证券代码：002428 证券简称：云南锗业 公告编号：2021-037 云南临沧鑫圆锗业股份有限公司 关于参加 2021 年云南辖区上市公司投资者集体接待日活动的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 为进一步加强与投资者的互动交流工作，云南临沧鑫圆锗业股份有限公司 （以下简称"公司"）将参加由云南省上市公司协会、深圳全景网络有限公司共 同举办的"2021 年云南辖区上市公司投资者网上集体接待日暨集体业绩说明会" 主题活动，现将有关事项公告如下： 本次活动将在深圳全景网络有限公司提供的网上平台，采取网络远程的方式 举行，投资者可以登录"全景•路演天下"网站（http://rs.p5w.net/）或关注 微信公众号：全景财经，或下载全景路演 APP，参与公司本次投资者集体接待日 活动，活动时间为 2021 年 5 月 17 日（星期一）15:30 至 17:00。 届时公司副总经理、董事会秘书金洪国先生，证券事务代表张鑫昌先生将通 过网络在线交流形式与投资者就 2020 年年报、公司治理、经营状况和可持续发 展等投资者关注的问题进行沟通。 欢迎广大投资者 ...

Financial Performance - The company's operating revenue for Q1 2021 was ¥109,278,181.93, a decrease of 32.38% compared to ¥161,599,090.11 in the same period last year[8] - Net profit attributable to shareholders was ¥15,522,585.11, an increase of 1,162.37% from ¥1,229,640.55 in the previous year[8] - Basic and diluted earnings per share were both ¥0.024, reflecting a growth of 1,100.00% from ¥0.002 in the previous year[8] - Revenue for Q1 2021 was ¥109.28 million, a decrease of 32.38% compared to Q1 2020, primarily due to a decline in trade income and sales volume of key products[18] - Operating profit increased by 1019.31% year-over-year to ¥19.70 million, driven by a significant increase in government subsidies received[19] - Net profit attributable to shareholders rose by 1162.37% to ¥15.52 million, largely due to the increase in government subsidies[19] - The total revenue for the current period is CNY 38,931,439.76, a decrease from CNY 90,552,525.03 in the previous period, representing a decline of approximately 57.0%[78] - The operating profit for the current period is CNY 19,699,564.77, compared to CNY 1,759,979.73 in the previous period, indicating a significant increase[78] - The net profit attributable to shareholders of the parent company is CNY 15,522,585.11, up from CNY 1,229,640.55 in the previous period, reflecting a growth of approximately 26.0%[77] - The total comprehensive income for the current period is CNY 20,683,773.89, compared to CNY 1,887,089.09 in the previous period, indicating a significant rise[77] Cash Flow - The net cash flow from operating activities reached ¥75,766,036.68, a significant increase of 328.64% compared to -¥33,138,204.67 in the same period last year[8] - Cash flow from operating activities increased by 56.25% to ¥262.04 million, with net cash flow from operating activities turning positive at ¥75.77 million[35] - Operating cash inflow increased by 56.25% compared to the same period last year, primarily due to higher cash received from sales and other operating activities[36] - Cash outflow from operating activities decreased to CNY 186,269,333.33 from CNY 200,843,380.16, indicating improved cash management[89] - The company reported a net increase in cash and cash equivalents of CNY 75,633,770.64, compared to CNY 71,636,234.77 in the previous period[91] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,403,622,369.67, an increase of 8.33% from ¥2,218,799,682.21 at the end of the previous year[8] - Total current assets as of March 31, 2021, amounted to CNY 848,557,629.49, up from CNY 652,149,754.32 at the end of 2020[52] - Total liabilities increased to CNY 846,233,167.67 as of March 31, 2021, from CNY 682,529,834.90 at the end of 2020[58] - The company's total assets as of March 31, 2021, were CNY 1,818,751,612.03, compared to CNY 1,888,659,798.28 at the end of the previous period, reflecting a decrease of approximately 3.7%[68] - The total equity attributable to shareholders was CNY 1,519,621,998.45, slightly down from CNY 1,527,063,127.89, showing a decrease of approximately 0.9%[68] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 70,930[12] - The largest shareholder, Lincang Feixiang Smelting Co., Ltd., held 13.72% of the shares, totaling 89,579,232 shares, with 27,000,000 shares pledged[12] Government Subsidies and Other Income - Government subsidies recognized in the current period amounted to ¥26,239,880.91[8] - Other income rose dramatically by 1703.60% to ¥26.24 million, primarily due to increased government subsidies[29] Research and Development - R&D expenses increased by 58.81% to ¥4.99 million, reflecting enhanced investment in product development[30] - The research and development expenses for the current period are CNY 1,742,220.47, down from CNY 1,951,451.71 in the previous period, indicating a reduction of approximately 10.7%[78] Investment Activities - Cash inflow from investment activities was CNY 159,761,008.92, a substantial increase from CNY 59,900,000.00 in the previous period[95] - Net cash flow from investment activities improved to CNY 155,979,805.88 from a negative CNY -114,145,802.06, reflecting successful asset management[95] Financing Activities - Cash outflow from financing activities surged by 461.42% compared to the same period last year, primarily due to increased cash payments for debt repayment[36] - Net cash flow from financing activities declined by 97.01% year-on-year, as cash inflow was lower than outflow[39]

Financial Performance - The company's operating revenue for 2020 was CNY 670,039,629.14, representing a 60.12% increase compared to CNY 418,466,179.51 in 2019[24]. - The net profit attributable to shareholders in 2020 was CNY 22,632,038.83, a significant recovery from a loss of CNY 59,145,273.60 in 2019, marking a 138.27% improvement[24]. - The net cash flow from operating activities reached CNY 124,771,164.47, a 219.91% increase from a negative cash flow of CNY 104,052,608.38 in the previous year[24]. - The total assets at the end of 2020 were CNY 2,218,799,682.21, which is a 9.23% increase from CNY 2,031,333,158.27 at the end of 2019[24]. - The net assets attributable to shareholders increased to CNY 1,455,083,196.48, up 1.73% from CNY 1,430,300,054.43 in 2019[24]. - The basic earnings per share for 2020 were CNY 0.03, recovering from a loss of CNY 0.09 per share in 2019, reflecting a 133.33% improvement[24]. - The weighted average return on equity was 1.57% in 2020, compared to -4.06% in 2019, indicating a positive turnaround[24]. - The company reported a significant reduction in non-recurring losses, with a net profit excluding such losses at -CNY 770,000.05, an improvement of 98.74% from -CNY 60,986,345.87 in 2019[24]. Revenue Breakdown - The company's total revenue for Q1, Q2, Q3, and Q4 of 2020 was approximately ¥161.60 million, ¥194.94 million, ¥141.96 million, and ¥171.53 million respectively, showing a significant fluctuation in quarterly performance[30]. - The net profit attributable to shareholders for the same quarters was ¥1.23 million, ¥4.82 million, ¥3.01 million, and ¥13.58 million respectively, indicating a strong recovery in Q4[30]. - The revenue from the non-ferrous metal (rolling processing) sector was ¥606,183,792.35, accounting for 90.47% of total revenue, with a year-on-year increase of 60.87%[75]. - Domestic revenue accounted for 83.51% of total revenue, amounting to ¥559,537,110.72, with a year-on-year increase of 91.22%[78]. - The company reported a 203.98% increase in trade revenue, amounting to 83.86 million CNY[61]. Production and Sales - The production capacity for material-grade germanium products includes 47.60 tons/year for zone-refined germanium ingots and 300,000 pieces/year for solar germanium wafers[39]. - The sales volume of photovoltaic-grade germanium products surged by 279.84%, while infrared-grade germanium products saw a 38.45% increase[55]. - The company produced 29.17 tons of material-grade germanium and 18.70 million pieces of photovoltaic-grade germanium in 2020[67]. - The sales volume of material-grade germanium products increased by 5.57% to 26,669.73 kg in 2020 from 25,263.77 kg in 2019[83]. - The production volume of photovoltaic-grade germanium products surged by 360.57% to 351,148.75 pieces (equivalent to 4 inches) in 2020 from 76,243 pieces in 2019[83]. - The sales volume of infrared-grade germanium products (lenses and complete machines) increased by 220.24% to 7,199 sets in 2020 from 2,248 sets in 2019[83]. - The production volume of compound semiconductor materials increased by 104.89% to 174,352.01 pieces (equivalent to 4 inches) in 2020 from 85,096.82 pieces in 2019[83]. Research and Development - The company has undertaken over 20 national and provincial-level projects, showcasing its strong R&D capabilities[51]. - The company is focusing on enhancing its R&D capabilities by integrating internal resources and collaborating with universities and research institutions[70]. - The company’s R&D expenses increased by 17.88% to 25,901,051.29 yuan in 2020 compared to 21,972,543.25 yuan in 2019, aimed at new product development and maintaining technological leadership[93]. - The company is committed to enhancing its research and development capabilities by integrating internal resources and collaborating with external research institutions[142]. Market Strategy and Future Plans - The company aims to expand its market share in downstream processing products and compound semiconductor materials, which are expected to drive future revenue growth[43]. - The company plans to expand its market presence by targeting high-quality clients and leveraging military certification for market competition[68]. - The company aims to optimize production costs through detailed management and performance assessments[69]. - The company is focusing on expanding the market for deep-processing products and improving product quality to boost sales[156]. - The company plans to produce 26 tons of material-grade germanium products, 3 tons of infrared-grade germanium products, 3,000 infrared lenses, 205,000 photovoltaic-grade germanium wafers, 176,700 gallium arsenide wafers, and 52,500 indium phosphide wafers in 2021[135]. Financial Management and Investments - Financial expenses increased by 34.32% due to increased bank borrowings for working capital[62]. - The total investment amount for the reporting period reached ¥188,334,406.58, a significant increase of 348.70% compared to ¥41,973,249.75 in the same period last year[111]. - The company invested ¥139,359,737.23 in the solar cell germanium chip construction project, with a cumulative actual investment of ¥344,357,074.66, achieving 101.23% of the planned progress[111]. - The company has increased bank loans significantly in 2020 to meet the funding needs for projects such as the indium phosphide single crystal chip and solar cell germanium chip construction[160]. Risk Management - The company recognizes the risk of price fluctuations in the germanium market due to concentrated supply and demand, especially under macroeconomic pressures[145]. - The company faces customer concentration risk, as a high dependency on major clients could adversely affect operations if those clients' demand or payment capabilities decline[148]. - The company has faced risks related to safety and environmental hazards due to its mining and processing operations[156]. Governance and Compliance - The company aims to optimize its governance structure and improve compliance with relevant laws and regulations to promote sustainable development[144]. - The company is actively working on internal control systems to ensure compliance and operational integrity[156]. - The controlling shareholder, Lincang Feixiang Smelting Co., Ltd., has signed a non-competition agreement, ensuring no current or future competition in the production and sales of high-purity germanium products[167]. Dividend Policy - The company plans not to distribute cash dividends or issue bonus shares for the year[7]. - The company did not distribute cash dividends for the years 2018, 2019, and 2020, with total cash dividends amounting to 0.00[157][159][163]. - The company has not proposed any cash dividend distribution plans despite having positive net profits available for distribution to ordinary shareholders[159][163].

Financial Performance - Operating revenue for the reporting period was ¥141,963,189.83, representing a year-on-year increase of 37.46%[8] - Net profit attributable to shareholders was ¥3,005,091.18, a significant increase of 219.92% compared to the same period last year[8] - Basic earnings per share were ¥0.005, reflecting a growth of 225.00% compared to the same period last year[8] - The company's operating revenue for the first nine months of 2020 was approximately ¥498.51 million, an increase of 49.74% compared to ¥332.92 million in the same period of 2019[22] - The net profit attributable to shareholders for the same period was approximately ¥9.05 million, a significant increase of 184.20% from a loss of ¥10.75 million in 2019[22] - The total operating revenue for the current period is CNY 498,505,239.11, compared to CNY 332,921,338.74 in the previous period, representing a significant increase[91] - The net profit for the current period is CNY 2,850,655.17, compared to a net profit of CNY 1,521,578.68 in the previous period, indicating a positive growth[84] - The total profit for the current period is CNY 3,266,687.24, compared to CNY 128,441.53 in the previous period, showing a substantial increase[84] - The total profit for the current period was ¥4,127,389.56, compared to a loss of ¥7,163,712.25 in the previous period[101] Cash Flow - The net cash flow from operating activities was ¥30,565,033.99, showing a remarkable increase of 4,273.52% year-on-year[8] - Cash inflow from operating activities totaled approximately ¥598.88 million, reflecting a 65.26% increase from ¥362.39 million in the previous year[42] - Operating cash flow generated from activities amounted to ¥96,032,629.83, a significant improvement compared to the previous period's negative cash flow of -¥88,123,685.70[106] - Total cash inflow from operating activities reached ¥598,878,672.23, while cash outflow was ¥502,846,042.40, resulting in a net cash flow of ¥96,032,629.83[106] - Cash inflow from financing activities was ¥398,665,527.78, with a net cash flow of ¥78,592,286.21 after outflows[110] Assets and Liabilities - Total assets at the end of the reporting period reached ¥2,222,574,787.77, an increase of 9.41% compared to the end of the previous year[8] - Total current assets as of September 30, 2020, amounted to CNY 744,286,116.94, an increase from CNY 628,839,932.13 in the previous year[58] - Total liabilities amounted to CNY 731,348,628.94, up from CNY 550,064,397.07 in the previous year[64] - The company's total liabilities increased to ¥403,690,684.86, compared to ¥379,511,662.22, representing a rise of 6.3%[74] - The company reported total liabilities of CNY 550,064,397.07, with current liabilities at CNY 410,760,623.98 and non-current liabilities at CNY 139,303,773.09[126] Shareholder Information - The total number of shareholders at the end of the reporting period was 69,454[13] - The top shareholder, Lincang Feixiang Smelting Co., Ltd., held 13.72% of the shares, amounting to 89,579,232 shares[13] Research and Development - Research and development expenses surged by 91.54% to approximately ¥12.66 million, indicating a strong focus on innovation[37] - Research and development expenses for the quarter were ¥4,923,600.89, significantly higher than ¥2,113,512.55 in the same quarter last year, reflecting a growth of 132.5%[77] - Research and development expenses increased to ¥6,613,656.00, up from ¥4,956,132.60, reflecting a focus on innovation[101] Government Subsidies - The company received government subsidies amounting to ¥8,006,714.50 during the reporting period[8] - The company received government subsidies amounting to approximately ¥36.39 million, contributing to a 58.69% increase in deferred income[34] Cost Management - The company's operating costs rose by 52.73% to approximately ¥423.59 million, primarily due to increased sales volume[24] - The total operating cost for the current period is CNY 500,120,391.37, up from CNY 353,277,005.48 in the previous period[91] - The company reported a decrease in management expenses to CNY 5,872,874.41 from CNY 9,211,915.92 in the previous period, indicating improved cost management[84] - The company experienced a decrease in sales expenses to CNY 209,051.08 from CNY 230,617.36 in the previous period, indicating efficiency improvements[84] Market Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[101]