Financial Performance - The company's revenue for Q3 2022 was ¥533,461,993.30, representing a 15.50% increase year-over-year, while year-to-date revenue reached ¥1,447,191,213.12, up 8.51% compared to the same period last year[5] - Net profit attributable to shareholders for Q3 2022 was ¥40,760,107.27, a decrease of 18.20% year-over-year, with year-to-date net profit at ¥135,216,008.31, down 5.99%[5] - The basic earnings per share for Q3 2022 was ¥0.05, reflecting a 25.00% decline compared to the same period last year, while diluted earnings per share also stood at ¥0.05[5] - Total operating revenue for Q3 2022 reached CNY 1,447,191,213.12, an increase of 8.5% compared to CNY 1,333,652,126.10 in the same period last year[24] - Net profit for Q3 2022 was CNY 121,301,714.55, slightly down from CNY 123,030,019.66 in Q3 2021, representing a decrease of 1.4%[25] - The company's total equity attributable to shareholders rose to CNY 2,144,639,784.88, up from CNY 2,026,672,397.46, marking an increase of 5.8%[23] Cash Flow - Cash flow from operating activities for the year-to-date period was ¥219,614,107.79, showing a significant increase of 38.33%[5] - The net cash flow from operating activities for Q3 2022 was ¥219,614,107.79, an increase from ¥158,756,473.41 in Q3 2021, representing a growth of approximately 38.3%[29] - Cash flow from operating activities increased to CNY 1,580,473,676.61, compared to CNY 1,411,442,374.32 in the previous year, reflecting a growth of 12%[27] - The company's cash flow from financing activities decreased by 99.29% year-over-year, influenced by various factors including reduced cash payments related to financing activities[15] - The cash inflow from financing activities totaled ¥1,005,085,518.51, compared to ¥831,093,833.01 in Q3 2021, showing an increase of approximately 20.9%[29] - The net cash flow from financing activities was -¥2,190,525.00, a significant improvement from -¥308,769,119.84 in Q3 2021[29] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥3,680,670,164.86, an increase of 2.62% from the end of the previous year[5] - The company's total liabilities decreased to CNY 1,415,765,240.22 from CNY 1,512,992,155.34, a reduction of approximately 6.4%[23] - Total current assets as of September 30, 2022, amounted to ¥1,568,415,486.14, up from ¥1,282,537,035.69 at the start of the year, indicating a growth of 22.3%[21] - The total non-current assets decreased to ¥2,112,254,678.72 from ¥2,304,256,937.81, indicating a decline of 8.3%[21] - Short-term borrowings decreased to ¥553,707,906.17 from ¥622,305,709.59, a reduction of 11.0%[21] Shareholder Information - Total number of common shareholders at the end of the reporting period is 38,268[17] - The largest shareholder, Changde City Urban Development Group Co., Ltd., holds 25.00% of shares, totaling 226,444,847 shares[17] - The company has a total of 10 major shareholders, with the top two holding over 32% of the shares combined[17] Expenses - Sales expenses increased by 53.2% year-over-year, primarily due to the hiring of additional sales personnel to expand market reach[13] - Financial expenses decreased by 36.47% year-over-year, while interest income grew by 37.5% due to increased term deposits[13] - Research and development expenses for Q3 2022 were CNY 47,426,182.33, compared to CNY 44,676,136.37 in the same quarter last year, indicating a growth of 6.2%[24] - The company paid ¥145,145,611.66 in employee compensation during the quarter, up from ¥133,481,729.43 in the previous year, reflecting an increase of about 8.3%[29] Investment Activities - The company reported a 3010.7% increase in net cash flow from investing activities year-over-year, attributed to reduced purchases of financial products and increased cash payments for fixed asset construction[15] - The total cash outflow from investing activities was ¥476,244,852.16, compared to ¥1,031,588,321.10 in the same period last year, indicating a decrease of about 53.8%[29] - The company reported a net cash flow from investing activities of -¥97,050,206.62, compared to -¥3,119,877.24 in the same quarter last year, indicating a decline in investment performance[29] - The cash outflow for the purchase of fixed assets and intangible assets was ¥170,198,535.04, up from ¥120,278,321.10, representing an increase of about 41.5%[29] Other Financial Metrics - The company's cash and cash equivalents increased to ¥628,421,583.28 from ¥255,524,339.85 at the beginning of the year, representing a growth of 146.0%[20] - The ending balance of cash and cash equivalents increased to ¥362,223,593.13 from ¥213,812,860.90 year-over-year, marking a rise of approximately 69.5%[30] - The impact of exchange rate changes on cash and cash equivalents was positive at ¥6,932,602.31, contrasting with a negative impact of -¥1,210,033.68 in the previous year[29] - The inventory decreased to ¥594,010,859.81 from ¥615,143,163.98, showing a decline of 3.4%[21] - The company reported accounts receivable of ¥135,072,763.57, an increase from ¥121,920,207.48, which is a growth of 10.0%[20]

Financial Performance - The company achieved operating revenue of CNY 913,729,219.82, representing a growth of 4.81% compared to the same period last year[20]. - The net profit attributable to shareholders was CNY 94,455,901.04, an increase of 0.48% year-on-year[20]. - The net profit after deducting non-recurring gains and losses was CNY 86,718,337.06, a decrease of 3.21% compared to the previous year[20]. - The net cash flow from operating activities was CNY 102,771,130.23, reflecting a growth of 15.11% year-on-year[20]. - The gross profit margin decreased slightly, with operating costs rising by 7.77% to ¥703.95 million from ¥653.22 million[44]. - The company reported a total revenue of 109,556 million CNY for the first half of 2022, with a gross profit margin of 36.29%[67]. - The net profit for the first half of 2022 was CNY 85,521,372.33, compared to CNY 82,142,870.44 in the first half of 2021, indicating a growth of 4.3%[162]. - The company reported a total comprehensive income of CNY 89,777,085.92 for the first half of 2022, compared to CNY 81,452,769.76 in the previous year, reflecting an increase of 10.3%[163]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,623,896,220.73, an increase of 1.03% from the end of the previous year[20]. - Cash and cash equivalents at the end of the reporting period were ¥536.64 million, representing 14.81% of total assets, up from 7.12% at the end of the previous year[52]. - Inventory increased to ¥644.04 million, accounting for 17.77% of total assets, compared to 17.15% at the end of the previous year[52]. - Total liabilities decreased slightly to CNY 1,486,471,917.74 from CNY 1,512,992,155.34, a reduction of about 1.8%[154]. - The company's equity increased to CNY 2,137,424,302.99 from CNY 2,073,801,818.16, reflecting a growth of approximately 3.1%[154]. Market Position and Products - The company is the largest POF shrink film manufacturer in China and ranks second globally, only behind Sealed Air Corporation[29]. - The company has maintained a market share of over 30% in the domestic POF shrink film market since 2009, with a consistent focus on technological innovation and marketing strategies[29]. - The product series has expanded to include 3 major categories and 8 series of POF films, making the company one of the most comprehensive providers in the global heat shrink film market[36]. - High-end products and new product ratios are steadily increasing, with the main business income from high-end products showing a consistent upward trend[37]. - The company has successfully developed and industrialized new high-end products, including oil pastes for optical fibers, which have received positive feedback from downstream customers[39]. Research and Development - The company emphasizes high-end, differentiated products, continuously investing in R&D to enhance its competitive edge in the market[34]. - Research and development expenses for the first half of 2022 were CNY 31,240,652.26, up from CNY 29,373,970.41, indicating an increase of 6.4%[162]. - The company is increasing R&D efforts in high-end specialty and high value-added products, expecting future benefits to improve[67]. Investment and Expansion - The company plans to invest 200 million yuan in new product development and technology upgrades in the upcoming year[177]. - The company is in the process of constructing a new production line for 30,000 tons of new polyethylene shrink film, which is expected to enhance production capacity[53]. - The company plans to utilize raised funds for expanding production capacity and enhancing product offerings in the packaging materials sector[66]. Environmental and Safety Compliance - The company has committed to enhancing its environmental management practices and has invested in upgrading pollution control facilities to comply with environmental regulations[87]. - The wastewater treatment capacity of the company is 1,090 m³/d, ensuring compliance with environmental standards[88]. - The company has achieved zero environmental accidents and zero complaints during the reporting period[94]. - The company conducted 35 safety inspections and received 11 supervisory inspections from government safety departments, with all issues effectively rectified[99]. Shareholder and Financial Transactions - The company has not engaged in any major litigation or arbitration matters during the reporting period[108]. - The financial assistance provided by major shareholder Chen Dakuai to the subsidiary Zhejiang Zhongli Composite Materials Technology Co., Ltd. for 2022 is capped at RMB 140 million, with an annual interest rate of 4.5%[115]. - The company has not reported any significant changes in its financial position or operations during the reporting period[120]. - The total approved guarantee amount for the company during the reporting period was CNY 125,000,000, with an actual guarantee amount of CNY 22,632,860[123].

Financial Performance - The company's revenue for Q1 2022 was CNY 458,287,883.20, representing a 20.53% increase compared to CNY 380,213,055.08 in the same period last year[4] - The net profit attributable to shareholders was CNY 50,974,004.26, a 33.56% increase from CNY 38,166,320.62 year-on-year[4] - The net profit after deducting non-recurring gains and losses was CNY 47,216,519.69, up 25.22% from CNY 37,707,644.26 in the previous year[5] - Net profit for Q1 2022 reached CNY 49,111,264.87, representing a 56.1% increase from CNY 31,466,514.32 in Q1 2021[24] - The total profit for Q1 2022 was CNY 58,969,530.53, up 47.0% from CNY 40,029,578.71 in Q1 2021[24] - Operating profit for Q1 2022 was CNY 58,968,828.80, an increase of 47.8% from CNY 39,902,642.00 in Q1 2021[23] Cash Flow and Liquidity - The company's cash flow from operating activities decreased by 29.94% to CNY 32,537,953.71, down from CNY 46,442,890.36 in the same period last year[5] - Cash flow from operating activities generated a net amount of CNY 32,537,953.71, down 30% from CNY 46,442,890.36 in Q1 2021[28] - Cash and cash equivalents at the end of Q1 2022 amounted to RMB 274,845,005.56, up from RMB 255,524,339.85 at the beginning of the year, reflecting a growth of 7.3%[17] - Cash and cash equivalents at the end of Q1 2022 totaled CNY 255,436,642.74, an increase from CNY 199,346,648.46 at the end of Q1 2021[29] - The company experienced a net cash outflow from investing activities of CNY 14,597,853.74, an improvement from a net outflow of CNY 128,083,384.01 in Q1 2021[28] Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,610,773,698.72, a 0.67% increase from CNY 3,586,793,973.50 at the end of the previous year[5] - Total assets as of March 31, 2022, were RMB 3,610,773,698.72, slightly up from RMB 3,586,793,973.50 at the beginning of the year[20] - Total liabilities decreased to RMB 1,487,425,942.47 from RMB 1,512,992,155.34, a reduction of 1.7%[20] - The company's equity attributable to shareholders increased to RMB 2,077,748,970.40 from RMB 2,026,672,397.46, reflecting a growth of 2.5%[20] - Short-term borrowings rose to RMB 635,410,350.14 from RMB 622,305,709.59, an increase of 2.0%[19] - The company reported a decrease in accounts payable to RMB 195,168,838.18 from RMB 204,539,158.49, a decline of 4.3%[19] Operating Costs and Expenses - The company's gross profit margin was impacted by a 25.65% increase in operating costs due to higher sales volume[10] - Total operating costs for Q1 2022 were CNY 401,693,915.36, an increase of 20.1% compared to CNY 334,534,441.19 in Q1 2021[23] - The company reported a 44.13% increase in selling expenses, attributed to higher salaries for sales personnel due to increased sales volume[10] - Research and development expenses for Q1 2022 were CNY 15,119,961.24, an increase of 11.4% compared to CNY 13,581,582.22 in Q1 2021[23] Investments and Growth - The company’s investment income grew by 90.31% year-on-year, primarily due to a reduction in losses from joint ventures[10] - The company’s minority interest profit increased by 72.2%, mainly due to reduced operating losses from a subsidiary[11] - The company’s construction in progress increased by 34.96%, reflecting ongoing investments in new production lines[9] - The company is focusing on expanding its market presence and enhancing product development strategies to drive future growth[16] Accounts Receivable and Inventory - Accounts receivable increased to RMB 129,228,747.29 from RMB 121,920,207.48, indicating a rise of 6.8%[17] - Inventory levels rose to RMB 629,593,663.80, compared to RMB 615,143,163.98 at the start of the year, marking an increase of 2.3%[18]

Financial Performance - The company's operating revenue for 2021 was CNY 1,795,970,214.16, representing a 23.90% increase compared to CNY 1,449,498,108.94 in 2020[20]. - The net profit attributable to shareholders for 2021 was CNY 177,636,979.44, a 4.74% increase from CNY 169,601,154.89 in 2020[20]. - The net cash flow from operating activities decreased by 28.13% to CNY 222,209,108.70 in 2021 from CNY 309,194,838.97 in 2020[20]. - The total assets at the end of 2021 were CNY 3,586,793,973.50, a 7.51% increase from CNY 3,336,337,027.00 at the end of 2020[20]. - The net assets attributable to shareholders increased by 5.39% to CNY 2,026,672,397.46 at the end of 2021 from CNY 1,923,043,041.87 at the end of 2020[20]. - The company reported a basic earnings per share of CNY 0.20 for 2021, up 5.26% from CNY 0.19 in 2020[20]. - The company achieved a total operating revenue of 1,795.97 million yuan in 2021, representing a year-on-year growth of 23.9%[59]. - The net profit attributable to the parent company was 177.64 million yuan, an increase of 4.74% compared to the previous year[59]. - The revenue from plastic products was CNY 958.58 million, accounting for 53.37% of total revenue, with a year-on-year growth of 16.08%[67]. - The revenue from synthetic rubber manufacturing reached CNY 779.87 million, which is 43.42% of total revenue, showing a significant increase of 36.84% compared to the previous year[67]. Dividend Distribution - The company plans to distribute a cash dividend of 0.30 RMB per 10 shares to all shareholders based on a total share capital of 905,779,387 shares as of the end of 2021[5]. - The cash dividend plan for 2021 proposed a distribution of RMB 27,173,381.61, at a rate of RMB 0.30 per 10 shares, based on a total share capital of 905,779,387 shares[188]. - The company distributed cash dividends of RMB 72,462,360.96, accounting for 42.73% of the net profit attributable to shareholders in the consolidated financial statements for the year 2020[186]. Business Operations and Strategy - The main business transitioned in 2018 from focusing solely on POF shrink film to include both POF shrink film and thermoplastic elastomer products[18]. - The company has established a production capacity of approximately 70,000 tons for high-end thermoplastic elastomer products, including SEP, SEPS, and SEBS[33]. - The company has implemented a procurement strategy that balances basic and forecasted inventory, minimizing inventory depreciation risks while enhancing production efficiency[41]. - The company’s sales model includes both direct sales and distribution channels, allowing for rapid market penetration and brand recognition globally[42]. - The company is investing 284.74 million yuan in a new production line for 30,000 tons of new polyethylene shrink film, with 71.38 million yuan already invested[47]. - The company is focusing on R&D for high-value-added products, aiming for early mass production of new materials and technologies[62]. - The company aims to enhance its product offerings by focusing on high-value thermoplastic elastomers and expanding its market presence both domestically and internationally[116]. Market Position and Competition - The company is the largest POF shrink film producer in China, achieving sales of over 40,000 tons in 2021, maintaining a leading position in the industry[32]. - The company has consistently ranked first in domestic sales and second globally in the POF shrink film industry since 2009, only behind Sealed Air Corporation[32]. - The company’s products are utilized in various applications, including food, beverages, daily necessities, cosmetics, and electronic products, highlighting their functional and environmentally friendly characteristics[35]. - The company is exposed to currency fluctuation risks due to significant foreign procurement and export activities, with over 60% of its products sold internationally[122]. - The company is addressing potential industry competition arising from its controlling shareholder's real estate development activities, with plans to resolve this through acquisition strategies[135]. Research and Development - The company has obtained multiple patents for its POF shrink film and thermoplastic elastomer products, enhancing its R&D capabilities[46]. - The company’s R&D investment amounted to ¥63,840,252.16, representing a year-on-year increase of 17.93% compared to ¥54,132,699.19 in 2020[82]. - The number of R&D personnel increased to 136, up by 11.48% from 122 in 2020, with R&D personnel accounting for 13.41% of the total workforce[81]. - The company continues to invest in R&D for new products, with several new applications in different fields being prepared for industrial production[56]. - The company is in the process of developing several new products, including EVOH high barrier shrink film and POF shrink film with PCR materials, which are expected to enhance competitiveness and market presence[80]. Environmental Compliance - The company achieved a total COD discharge of 14.584 tons, which is within the permitted limits[200]. - The company has not exceeded any of the specified pollution discharge limits across various pollutants[200]. - The environmental compliance status indicates a strong adherence to pollution control regulations[200]. Governance and Management Changes - The company underwent a significant change in control, with 226,444,847 shares (25.00% of total shares) transferred to Changde City Development Group, making it the new controlling shareholder[18]. - The company experienced a change in control, leading to a complete re-election of the board and supervisory committee in December 2021[141]. - The company’s chairman, Chen Jian, and several other board members resigned due to the change in control and subsequent re-election process[141]. - The company has maintained independence from its controlling shareholder, with a complete separation in business, assets, personnel, and financial operations[131]. - The company is committed to maintaining transparency and compliance with regulatory requirements during leadership transitions[141]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in its reports[5]. - The company faces risks from raw material price fluctuations, particularly for linear low-density polyethylene and polypropylene, which are linked to international oil prices[121]. - Supplier concentration risk is present, with over 80% of raw materials sourced from major suppliers like Dow Chemical and BASF, which could lead to supply shortages[122]. - The company plans to improve its governance structure and enhance its talent acquisition strategy to support its growth objectives[119]. Employee and Compensation Policies - The company has a strict salary policy linking employee compensation to overall corporate performance and individual performance assessments[182]. - The total number of employees at the end of the reporting period was 1,008, with 663 in the parent company and 355 in major subsidiaries[180]. - The company has implemented a comprehensive training program for employees, emphasizing practical effectiveness and departmental needs[183].

Financial Performance - The company's revenue for Q3 2021 was CNY 461,864,250.33, representing a year-on-year increase of 15.80%[4] - The net profit attributable to shareholders for Q3 2021 was CNY 49,829,985.77, a decrease of 9.74% compared to the same period last year[4] - Total operating revenue for the current period reached ¥1,333,652,126.10, an increase of 27.5% compared to ¥1,046,090,181.56 in the previous period[25] - Net profit for the current period was ¥123,030,019.66, representing a 29.3% increase from ¥95,183,212.73 in the previous period[27] - Earnings per share (EPS) for the current period was ¥0.16, compared to ¥0.13 in the previous period[28] - The company reported a total comprehensive income of ¥122,632,297.43, compared to ¥93,466,503.52 in the previous period[27] Cash Flow - The operating cash flow for the year-to-date period decreased by 21.88%, totaling CNY 158,756,473.41[5] - The net cash flow from operating activities for Q3 2021 was ¥158,756,473.41, a decrease of 22% compared to ¥203,228,939.46 in Q3 2020[31] - The total cash inflow from investment activities was ¥1,028,468,443.86, down 49% from ¥2,023,768,229.17 in the same period last year[31] - The net cash flow from financing activities was -¥308,769,119.84, compared to -¥187,522,751.95 in Q3 2020, indicating a worsening cash position[32] - The total cash and cash equivalents at the end of Q3 2021 were ¥213,812,860.90, down 55% from ¥473,460,937.10 at the end of Q3 2020[32] Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 3,483,183,934.24, an increase of 4.40% from the end of the previous year[5] - Total assets as of September 30, 2021, amounted to ¥3,483,183,934.24, up from ¥3,336,337,027.00, showing an increase of about 4.4%[22] - The company's total liabilities reached ¥1,425,254,128.31, compared to ¥1,329,738,012.16 in the previous period[26] - The total liabilities amounted to ¥1,329,738,012.16, reflecting a slight increase from the previous year[37] - Total current liabilities decreased to ¥1,155,208,801.75 from ¥1,293,483,634.83, a reduction of approximately 10.7%[22] Shareholder Information - Total number of common shareholders at the end of the reporting period is 35,974[16] - The largest shareholder, Chen Dakuai, holds 32.95% of shares, totaling 298,456,400 shares, with 49,610,000 shares pledged[16] - The company has a total of 1.77% shares held by Zhejiang Yinwanster Investment Management Co., Ltd., totaling 16,038,600 shares[16] - The report indicates that Chen Jian and Chen Chen are related to the largest shareholder, Chen Dakuai, as his son and daughter respectively[16] Operating Costs and Expenses - The company's gross profit margin decreased due to a 34.12% increase in operating costs driven by higher sales volume[12] - Total operating costs amounted to ¥1,183,007,380.25, up 26.7% from ¥933,949,354.05 in the previous period[26] - The company reported a 58.57% decrease in selling expenses, attributed to reclassification of certain costs to operating costs[12] - The company paid ¥133,481,729.43 in employee compensation during the quarter, an increase from ¥114,194,147.15 in Q3 2020[31] Investment Activities - Investment income decreased by 56.12%, while investment income from joint ventures increased by 115.87%[13] - The company's cash flow from investing activities decreased by 96.15%, primarily due to reduced purchases of financial products[14] - The cash outflow for investment activities was ¥1,031,588,321.10, a decrease of 51% from ¥2,104,903,598.03 in the same quarter last year[31] - Deferred income amounted to ¥30,996,601.36, compared to ¥36,254,377.33 in the previous period[26] Future Outlook - The company plans to continue expanding its market presence and investing in new product development[24]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 871,787,875.77, representing a 34.69% increase compared to CNY 647,245,612.76 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was CNY 94,007,873.31, up 41.66% from CNY 66,360,684.90 year-on-year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 89,592,878.44, an increase of 53.70% compared to CNY 58,289,037.43 in the previous year[18]. - The basic earnings per share increased to CNY 0.10, a rise of 42.86% from CNY 0.07 in the same period last year[18]. - The total operating revenue for the first half of 2021 reached ¥871,787,875.77, a 34.7% increase from ¥647,245,612.76 in the same period of 2020[176]. - The company reported a total comprehensive income of ¥81,452,769.76 for the first half of 2021, compared to ¥45,370,206.27 in the previous year[179]. - The company achieved a net profit margin of 490 million, reflecting a strong operational efficiency[121]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,446,117,896.66, reflecting a 3.29% increase from CNY 3,336,337,027.00 at the end of the previous year[18]. - The company's cash and cash equivalents decreased to ¥617,396,531.15, representing 17.92% of total assets, down from 20.70% at the end of the previous year[51]. - Total liabilities reached CNY 1,429,308,489.36, an increase from CNY 1,329,738,012.16, representing a growth of around 7.5%[168]. - Current liabilities were CNY 1,239,700,635.47, down from CNY 1,293,483,634.83, showing a decrease of about 4.2%[167]. Cash Flow - The net cash flow from operating activities was CNY 89,279,445.08, down 23.39% from CNY 116,540,129.01 in the same period last year[18]. - The company reported a decrease in cash flow from operating activities by 23.39% to ¥89,279,445.08, reflecting changes in operational efficiency[45]. - The net cash flow from investing activities was -¥172,732,848.61, an improvement from -¥267,630,787.59 in the same period last year[187]. - The net cash flow from financing activities was -¥105,518,203.19, compared to -¥192,413,684.26 in the first half of 2020, indicating a reduction in cash outflow[187]. Market Position and Product Development - The company is the largest POF shrink film manufacturer in China and ranks second globally, only behind Sealed Air Corporation[26]. - The company has developed a production capacity of approximately 70,000 tons for high-end products and elastic materials[27]. - The company has developed a diverse product range, including 3 major categories and 8 series of POF films, making it one of the most comprehensive providers in the global market[37]. - The company has successfully applied its products in various fields, including food packaging, medical supplies, and electronics, enhancing its market presence[26]. - The company plans to enhance production capacity by an additional 30,000 tons of POF shrink film to optimize product structure and strengthen market position[73]. Risks and Challenges - The company faces risks including raw material price fluctuations, supplier concentration, exchange rate fluctuations, and talent shortages[4]. - Supplier concentration risk exists as over 80% of raw materials are sourced from major suppliers like Dow Chemical and BASF[71]. - The company faces risks from raw material price fluctuations, particularly with linear low-density polyethylene and copolymer polypropylene, which are linked to international oil prices[70]. Research and Development - The company has a strong focus on R&D, with new products in various application fields being prepared for industrial production[38]. - Research and development expenses rose to ¥29,373,970.41, a 40.5% increase from ¥20,872,402.62 in the first half of 2020[177]. - The company is investing in R&D with a budget allocation of 3 million for developing innovative packaging solutions[122]. Environmental Compliance - The company has completed environmental facility acceptance for several projects, including the annual production of 120,000 tons of thermoplastic elastomer materials[87]. - The wastewater treatment capacity of the company is 1,090 m³/d, ensuring compliance with environmental standards[85]. - The company has achieved zero environmental accidents and zero complaints, with no administrative penalties received[94]. Future Outlook - Future outlook suggests a projected revenue growth of 10% for the second half of 2021, driven by new product launches and market expansion strategies[122]. - The company plans to enhance its market expansion strategies and invest in new product development to drive future growth[198]. - The overall market outlook remains positive, with expectations of recovery and growth in demand for packaging solutions[198].

Financial Performance - The company's revenue for Q1 2021 was ¥380,213,055.08, representing a 49.87% increase compared to ¥253,699,221.63 in the same period last year[8]. - Net profit attributable to shareholders was ¥38,166,320.62, a significant increase of 98.14% from ¥19,262,467.23 year-on-year[8]. - The net profit after deducting non-recurring gains and losses was ¥37,707,644.26, up 135.15% from ¥16,035,406.47 in the previous year[8]. - The company's operating revenue increased by 49.87% compared to the same period last year, with operating profit and net profit attributable to shareholders growing by 241.2% and 98.14% respectively[19]. - The company achieved a net profit margin of 3.76% in Q1 2021, with a net profit of 101.9 million[33]. - The company reported a total comprehensive income of CNY 41,822,178.68 for the quarter, compared to CNY 30,501,125.68 in the previous year, indicating a 37.2% increase[60]. Cash Flow and Assets - The net cash flow from operating activities was ¥46,442,890.36, a turnaround from a negative cash flow of -¥29,586,172.18 in the same period last year, marking a 256.97% improvement[8]. - The company's cash flow from operating activities decreased by 256.97% year-on-year, primarily because the revenue growth rate exceeded the growth rate of operating costs[23]. - The total assets at the end of the reporting period were ¥3,397,706,259.36, a 1.84% increase from ¥3,336,337,027.00 at the end of the previous year[8]. - The company's current assets totaled CNY 1,785,438,237.23, compared to CNY 1,706,508,293.71 at the end of 2020, indicating an increase of about 4.6%[44]. - The cash and cash equivalents decreased to CNY 636,886,789.13 from CNY 690,689,253.81, representing a decline of approximately 7.8%[43]. - The total liabilities of the company were CNY 1,358,454,951.15, slightly up from CNY 1,329,738,012.16, reflecting an increase of about 2.0%[46]. Shareholder Information - The total number of shareholders at the end of the reporting period was 33,897, with the largest shareholder holding 32.95% of the shares[12]. - The total equity attributable to shareholders of the parent company increased to CNY 1,962,103,702.77 from CNY 1,923,043,041.87 at the end of 2020[50]. Research and Development - The company's research and development expenses increased by 41.79% year-on-year, primarily due to increased project R&D costs[21]. - Research and development expenses for Q1 2021 were CNY 13,581,582.22, up 42.1% from CNY 9,578,874.10 in Q1 2020, reflecting a commitment to innovation[56]. - The company is investing in R&D for new packaging technologies, with a budget allocation of 2,000 million for innovation in 2021[34]. Future Outlook and Strategic Initiatives - Future outlook includes a projected revenue growth of 2.10% for the upcoming quarter, driven by new product launches and market expansion strategies[33]. - The company plans to establish a new project for a production line with an annual capacity of 30,000 tons of new polyethylene shrink film, funded by remaining raised funds and self-raised funds[28]. - Market expansion efforts are focused on increasing presence in the Southeast Asian region, targeting a 35.48% increase in market share by the end of 2021[34]. - The company plans to pursue strategic acquisitions to enhance its product offerings, with a budget of 2,500 million earmarked for potential mergers and acquisitions[34]. Financial Stability and Debt Management - The company's short-term borrowings decreased by CNY 47.94 million, a decline of 6.83%, due to reduced short-term borrowings by subsidiaries[17]. - The company's long-term borrowings increased by CNY 176.90 million, mainly due to the renewal of project loans by financial institutions[18]. - The total liabilities decreased to CNY 214,691,078.26 from CNY 232,510,200.82 at the end of 2020, indicating improved financial stability[52]. Miscellaneous - The company has adopted the new leasing standards effective from January 1, 2021, which will not have a significant impact on its financial position, operating results, and cash flows[78]. - The first quarter report for 2021 was not audited, indicating that the figures presented are preliminary[79].

Financial Performance - In 2020, the company's operating income reached approximately CNY 1.45 billion, representing a 16.35% increase compared to CNY 1.25 billion in 2019[17]. - The net profit attributable to shareholders was approximately CNY 169.60 million, a significant increase of 164.33% from CNY 64.16 million in the previous year[17]. - The net cash flow from operating activities was approximately CNY 309.19 million, up 79.61% from CNY 172.15 million in 2019[17]. - The basic earnings per share increased to CNY 0.19, reflecting a growth of 171.43% compared to CNY 0.07 in 2019[17]. - The total assets at the end of 2020 were approximately CNY 3.34 billion, a slight increase of 1.12% from CNY 3.30 billion at the end of 2019[17]. - The net assets attributable to shareholders rose to approximately CNY 1.92 billion, marking a 5.60% increase from CNY 1.82 billion in 2019[17]. - The weighted average return on equity for 2020 was 9.09%, an increase of 5.53 percentage points from 3.56% in 2019[17]. - The company reported a significant increase in net profit after deducting non-recurring gains and losses, reaching approximately CNY 151.94 million, up 253.04% from CNY 43.04 million in 2019[17]. - The total operating revenue for the year 2020 was CNY 1,449,498,108.94, representing a year-on-year increase of 16.35% compared to CNY 1,245,810,742.75 in 2019[66]. Revenue and Sales - The company's total revenue for Q1, Q2, Q3, and Q4 of 2020 was approximately ¥253.70 million, ¥393.55 million, ¥398.84 million, and ¥403.41 million respectively, showing a steady increase throughout the year[21]. - The net profit attributable to shareholders for the same quarters was ¥19.26 million, ¥47.10 million, ¥55.21 million, and ¥48.03 million, indicating a significant growth in profitability[21]. - The company sold 36,000 tons of POF shrink film in 2020, maintaining a strong market position in the POF shrink film sector[52]. - The main product, POF shrink film, generated export revenue of CNY 442,151,841.73, accounting for 30.50% of total operating revenue[63]. - The domestic sales accounted for 68.50% of total revenue, increasing from 62.00% in the previous year, while international sales decreased to 30.50%[67]. Product Development and Innovation - The company has shifted its main business focus to include both POF shrink film products and thermoplastic elastomer products since 2018[14]. - The company has successfully developed high-end products such as SEP (fiber optic oil paste), SEPS (lubricating oil adhesive), and SEBS (protective film), achieving a production scale of over 40,000 tons annually[31]. - The company has expanded its product applications into new areas such as optical fiber protection and environmentally friendly materials, enhancing its market competitiveness[31]. - The company has developed a diverse product range, including 3 major categories and 8 series of POF films, enhancing customer procurement convenience[46]. - The company continues to invest in R&D for new products, with several new applications in various fields nearing industrial production[48]. Market Position and Strategy - The company maintained its position as the largest POF shrink film manufacturer in China, with sales exceeding 36,000 tons in 2020, continuing its industry-leading status[30]. - The company emphasizes high-end and differentiated operational strategies, continuously increasing investment in technology development to launch new high-end products[44]. - The company aims to enhance its R&D in new equipment, processes, and products to provide a comprehensive range of shrink film products and other new materials[126]. - The company intends to deepen its differentiated competitive strategy globally and expand both domestic and international markets[126]. Financial Management and Investments - The company has established a robust internal control system with the help of external consulting firms to ensure compliance and risk management, separating decision-making and operational responsibilities[56]. - The company has a significant overseas asset presence, with a wholly-owned subsidiary in the USA valued at approximately $9.8 million[42]. - The company has secured various loans with collateral from its subsidiary, with a total maximum guarantee amount of ¥292,230,000.00[93]. - The company reported a net interest income from bank deposits of CNY 644.62 million for the year 2020, after deducting bank fees[111]. Cash Dividends and Shareholder Returns - The company distributed cash dividends of RMB 72,462,360.96 for the year 2020, accounting for 42.73% of the net profit attributable to shareholders[145]. - The proposed cash dividend for 2020 is RMB 0.8 per 10 shares, subject to shareholder approval[143]. - The cash dividend policy remained unchanged during the reporting period, adhering to relevant regulations and guidelines[139]. - The total number of shares for the dividend distribution calculations is 905,779,387 shares[143]. Risks and Challenges - The company faces risks from raw material price fluctuations, particularly for linear low-density polyethylene and copolymer polypropylene, which are linked to international oil prices[130]. - The company recognizes the risk of talent shortages in specialized R&D and management, which could hinder business development as it expands[132]. - The company is exposed to currency fluctuation risks due to its reliance on foreign suppliers and exports, with over 60% of POF shrink film products sold internationally[131]. Compliance and Governance - The company has adhered to all commitments made by its actual controllers and shareholders during the reporting period[149]. - There were no significant lawsuits or arbitration matters during the reporting period[164]. - The company has not engaged in any major related party transactions during the reporting period[167].

Financial Performance - Net profit attributable to shareholders was CNY 55,207,194.96, representing a significant increase of 151.99% year-on-year[7]. - Operating revenue for the period reached CNY 398,844,568.80, reflecting a growth of 19.38% compared to the same period last year[7]. - Basic earnings per share were CNY 0.06, an increase of 200.00% compared to the same period last year[7]. - The company reported a net profit of CNY 51,445,339.87 after deducting non-recurring gains and losses, an increase of 173.94% year-on-year[7]. - The company's net profit attributable to shareholders grew by 326.19% compared to the previous year, driven by product structure optimization and increased sales volume[20]. - The company reported a significant increase in receivables financing, rising to ¥7.06 million from ¥1.52 million[46]. - The company reported a net profit of CNY 145,801,958.04, up from CNY 122,166,093.20, which is an increase of 19.4%[74]. - The company's net profit attributable to shareholders reached CNY 121,567,879.86, compared to CNY 66,685,570.02 in the previous period, reflecting an increase of 82.2%[69]. Cash Flow - Net cash flow from operating activities was CNY 86,688,810.45, up 81.34% year-on-year[7]. - The net cash flow from operating activities was CNY 203,228,939.46, an increase of 50.7% compared to CNY 134,859,715.72 in the same period last year[77]. - Cash inflow from investment activities totaled CNY 2,023,768,229.17, up from CNY 1,454,266,236.30, representing a growth of 39.1%[78]. - The net cash flow from investment activities was -CNY 81,135,368.86, an improvement from -CNY 190,356,631.63 year-over-year[78]. - Cash inflow from financing activities was CNY 410,688,550.53, down 34.8% from CNY 629,491,847.20 in the previous year[78]. - The ending cash and cash equivalents balance was CNY 473,460,937.10, a decrease from CNY 339,015,865.41 year-over-year[78]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,209,663,743.78, a decrease of 2.72% compared to the end of the previous year[7]. - Current liabilities increased from CNY 1,037,949,501.72 to CNY 1,181,472,756.70, an increase of about 13.8%[49]. - Non-current liabilities decreased significantly from CNY 322,166,896.43 to CNY 58,125,272.20, a reduction of approximately 82.0%[49]. - Total equity increased from CNY 1,939,238,138.37 to CNY 1,970,065,714.88, reflecting a growth of about 1.6%[50]. - The company's total liabilities decreased from CNY 1,360,116,398.15 to CNY 1,239,598,028.90, a reduction of about 8.8%[49]. - The company's retained earnings increased from CNY 178,336,209.63 to CNY 236,499,532.40, an increase of approximately 32.6%[50]. Investments and Financial Products - The company received government subsidies amounting to CNY 5,296,831.34 during the reporting period[8]. - The company's financial assets increased by 28.33% from the beginning of the year, mainly due to increased investments in wealth management products[16]. - The total amount of entrusted financial management reached ¥221,992.5 million, with an outstanding balance of ¥20,556 million[29]. - The bank financial products accounted for ¥215,492.5 million of the total, while the securities financial products contributed ¥6,500 million[29]. - The company has engaged in various financial products, including guaranteed and non-guaranteed types, with amounts ranging from ¥1,300 million to ¥5,000 million[32]. - The company has a significant investment in floating income products, with returns reported between 2.50% and 3.90%[32]. Operational Efficiency - The company's operating revenue increased by 15.97% compared to the same period last year, primarily due to sales growth from its subsidiaries[18]. - The company's interest income surged by 196.62% year-on-year, attributed to increased deposits held as collateral[18]. - The company's cash flow from operating activities decreased by 50.70% year-on-year, mainly due to reduced purchasing expenses from lower raw material costs[21]. - The company's cash outflow for purchasing goods and services was CNY 276,024,457.49, down from CNY 332,077,011.88, indicating a decrease of 16.9%[81]. Research and Development - Research and development expenses rose to ¥14,069,470.05, up from ¥10,839,439.96, indicating a growth of 29.5%[59]. - Research and development expenses were CNY 34,941,872.67, up from CNY 33,721,594.34, showing a rise of 3.6%[68]. Shareholder Information - The total number of shareholders at the end of the reporting period was 37,637[11]. - The largest shareholder, Chen Dakuai, holds 34.94% of the shares, amounting to 316,456,400 shares[11].

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 647,245,612.76, representing a 13.97% increase compared to CNY 567,920,468.46 in the same period last year[15]. - The net profit attributable to shareholders of the listed company reached CNY 66,360,684.90, marking a significant increase of 48.20% from CNY 44,777,418.01 in the previous year[15]. - The net profit after deducting non-recurring gains and losses was CNY 58,289,037.43, which is a remarkable increase of 301.79% compared to CNY 14,507,186.48 in the same period last year[15]. - The net cash flow from operating activities was CNY 116,540,129.01, up by 33.87% from CNY 87,055,785.99 in the previous year[15]. - Basic and diluted earnings per share were both CNY 0.07, reflecting a 40.00% increase from CNY 0.05 in the same period last year[15]. - The weighted average return on equity increased to 3.60%, up from 1.37% in the previous year[15]. - Total assets at the end of the reporting period were CNY 3,182,987,684.71, a decrease of 3.53% from CNY 3,299,354,536.52 at the end of the previous year[15]. - The net assets attributable to shareholders of the listed company were CNY 1,825,236,171.35, showing a slight increase of 0.23% from CNY 1,820,997,341.86 at the end of the previous year[15]. Revenue Breakdown - Revenue from plastic products was ¥379,898,803.05, accounting for 58.69% of total revenue, showing a slight decrease of 0.73% year-on-year[37]. - Revenue from synthetic rubber manufacturing increased significantly by 37.91% to ¥243,716,431.14, which accounted for 37.65% of total revenue[37]. - Domestic revenue grew by 27.87% to ¥433,916,363.76, representing 67.04% of total revenue, compared to ¥339,342,489.27 in the previous year[37]. Investment and Financing Activities - The company’s investment activities generated a net cash outflow of 267.63 million yuan, a significant increase of 229.36% compared to the previous year[34]. - The company’s cash and cash equivalents saw a net decrease of 342.54 million yuan, a 520.45% increase in outflow compared to the previous year[34]. - The total amount of funds raised is 114,336.29 million CNY, with 22.39 million CNY utilized during the reporting period[60]. - The total investment in committed projects amounts to 68,104.4 million CNY, with a completion rate of 115.82%[65]. Research and Development - Research and development investment amounted to 20.87 million yuan, a decrease of 8.78% compared to the previous year[34]. - The company is actively developing high-end special grades of SBS, SEBS, SEEPS, and SEP products to enhance profitability[30]. - The company has made progress in the "high-performance functional polypropylene film trial production project," obtaining over ten related invention patents[30]. Risks and Challenges - The company faces risks including raw material price fluctuations, supplier concentration, exchange rate fluctuations, and product structure singularity[4]. - Supplier concentration risk is significant, with over 80% of raw materials sourced from three major suppliers, which could lead to supply shortages or price volatility[77]. - There is a risk of talent shortages in specialized R&D and management, which could hinder business development[78]. Environmental Compliance - The company has established effective pollution control facilities to ensure compliance with environmental regulations during production processes[122]. - The company reported a continuous COD discharge of 39 mg/L, which is within the legal discharge standards[121]. - The company has implemented effective sewage treatment measures, ensuring compliance with environmental standards and achieving zero environmental incidents[123]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 37,638[137]. - Major shareholder Chen Dakuai holds 35.43% of the shares, with a pledge status on 158,823,800 shares[137]. - The controlling shareholder of the company is Chen Dakuai, holding 320,956,000 shares, which accounts for approximately 43.5% of the total shares[138]. Future Outlook - Future outlook remains positive, with expectations of continued growth in the packaging sector driven by market expansion strategies[105]. - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[191]. - Strategic initiatives are being implemented to optimize operational efficiency and reduce costs[105].