证券代码：002562 证券简称：兄弟科技 兄弟科技股份有限公司投资者关系活动记录表 编号：2022-006 | --- | --- | --- | |----------------|------------------------------------------|---------------------------------------------------------------------------| | | ■特定对象调研 | □分析师会议 | | 投资者关系活动 | □媒体采访 □业绩说明会 | | | 类别 | □新闻发布会 □路演活动 | | | | □现场参观 | | | | □其他 （请文字说明其他活动内容） | | | 参与单位名称 | 优邦基金 | | | 时间 | 2022 年 9 月 15 日 | | | 地点 | 公司总部 206 会议室 | | | 上市公司接待人 | 董事会秘书 / 高级副总裁 | 钱柳华 | | 员姓名 | 证券专员 虞高燕 | | | | 1、公司业务板块的基本介绍 | | | | | 公司目前已形成了维生素、香精香料、医药、特种化学品四大产业 ...

Financial Performance - The company's revenue for Q3 2022 reached ¥842,485,205.62, representing a 35.69% increase year-over-year[5] - Net profit attributable to shareholders was ¥43,784,672.75, a significant increase of 282.96% compared to the same period last year[5] - The net profit after deducting non-recurring gains and losses was ¥43,051,502.53, up 527.78% year-over-year[5] - The total operating revenue for the third quarter of 2022 was CNY 2,651,745,529.19, an increase from CNY 1,905,877,936.97 in the same period last year, representing an increase of approximately 39.1%[19] - The net profit for the third quarter was CNY 274,423,057.72, a significant increase from CNY 2,981,052.25 in the same quarter of the previous year[20] - The total comprehensive income for the period was CNY 352,230,684.90, a turnaround from a loss of CNY -27,127,898.90 in the previous year[21] Assets and Liabilities - The total assets at the end of the reporting period were ¥5,826,996,839.87, reflecting a 4.03% increase from the end of the previous year[5] - The company's total assets reached CNY 5,826,996,839.87, up from CNY 5,601,478,127.75 year-over-year, indicating a growth of approximately 4.0%[18] - The total liabilities decreased to CNY 2,444,643,690.50 from CNY 2,606,145,107.85, showing a reduction of about 6.2%[18] - The company's inventory increased to CNY 872,862,834.02 from CNY 790,324,673.83, marking an increase of approximately 10.4%[17] - The total equity attributable to shareholders increased to CNY 3,382,353,149.37 from CNY 2,995,333,019.90, representing a growth of approximately 12.9%[18] Cash Flow - Cash flow from operating activities showed a net inflow of ¥196,651,683.22, a turnaround from a negative cash flow in the previous year[10] - The net cash flow from operating activities was CNY 196,651,683.22, a significant recovery from a negative cash flow of CNY -240,025,756.28 in the previous year[24] - Cash and cash equivalents increased by CNY 154,312,767.41, compared to a decrease of CNY -436,671,884.69 in the same period last year[24] - The company received CNY 115,964,300.56 in tax refunds, up from CNY 88,036,538.28 in the previous year[24] - The cash outflow from investing activities was CNY 1,500,748,110.39, compared to CNY 920,818,843.39 in the previous year, indicating increased investment activity[24] - The net cash flow from financing activities was CNY -74,963,264.36, a decrease from CNY 195,683,544.28 in the previous year, reflecting higher debt repayments[24] Shareholder Information - The total number of common shareholders at the end of the reporting period is 41,900[12] - Major shareholder Qian Zhida holds 257,395,438 shares, representing 24.22% of total shares, with 193,046,578 shares pledged[12] - Major shareholder Qian Zhiming holds 214,182,400 shares, representing 20.15% of total shares[12] - Shareholder Bai Xiaoming holds 10,081,636 shares, representing 0.95% of total shares[12] - Shareholder Qi Linrong holds 5,380,000 shares, representing 0.51% of total shares[12] Research and Development - The company’s R&D expenses increased to ¥94,807,128.65, a rise of 44.21% year-over-year, indicating a focus on innovation[9] - Research and development expenses for the quarter were CNY 94,807,128.65, compared to CNY 65,740,258.93 in the previous year, reflecting an increase of about 44.1%[20] Future Plans and Investments - The company plans to expand its production capacity for certain vitamin and chromium salt products, contributing to increased revenue[9] - The company plans to invest a total of RMB 2.5 billion in the construction of an international pharmaceutical industry base, with RMB 1.5 billion allocated for fixed assets and RMB 1 billion for R&D[15] - The company is in the process of acquiring land for the pharmaceutical project, with timelines and area subject to uncertainty[15] Compliance and Penalties - The company received an administrative penalty of RMB 19,000 for safety equipment non-compliance and has completed the necessary rectifications[15] Financial Management - The company reported a financial expense of CNY -16,041,007.84, a significant change from CNY 4,411,743.23 in the previous year, indicating improved financial management[20] - Investment income rose to ¥10,051,812.35, a 160.81% increase, attributed to higher amounts invested in financial products[9] - The company reported a basic and diluted earnings per share of CNY 0.26, compared to CNY 0.003 in the same quarter last year[21]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥1,809,260,323.57, representing a 40.80% increase compared to ¥1,285,009,042.81 in the same period last year[24]. - Net profit attributable to shareholders was ¥230,638,384.97, a significant increase of 2,828.76% from a loss of ¥8,452,145.58 in the previous year[24]. - The net cash flow from operating activities reached ¥137,488,833.21, improving by 211.84% compared to a negative cash flow of ¥122,928,136.75 in the same period last year[24]. - Basic earnings per share rose to ¥0.22, a 2,300.00% increase from a loss of ¥0.01 per share in the previous year[24]. - Total assets at the end of the reporting period were ¥5,883,302,434.94, reflecting a 5.03% increase from ¥5,601,478,127.75 at the end of the previous year[24]. - The net assets attributable to shareholders increased by 11.09% to ¥3,327,423,031.91 from ¥2,995,333,019.90 at the end of the previous year[24]. - The company's gross profit margin for the pharmaceutical and chemical sector was 27.92%, showing an increase of 16.65% year-on-year[55]. - The company reported a significant increase in income tax expenses to ¥54,888,942.41, a year-on-year increase of 2,447.59% due to higher profits[51]. - The company’s total investment during the reporting period was RMB 190.21 million, representing a 2.10% increase compared to RMB 186.31 million in the same period last year[62]. Market Position and Strategy - The company focuses on the pharmaceutical, food, and specialty chemicals sectors, with major products including vitamins, flavors, and pharmaceutical-related products[32]. - The company has become a globally recognized producer of vitamins and leather chemicals, with leading positions in several major products[32]. - The company aims to become a well-known emerging enterprise in the flavors and pharmaceuticals sectors through increased investment[32]. - The company has extended its value chain through the acquisition and integration of Brother CISA, adding chromium salt products to its portfolio[35]. - The company has initiated the construction of the second phase of the phenol project, which will significantly enhance the competitiveness of its phenol product chain[33]. - The iodine contrast agent project has established extensive business cooperation with domestic and international users, with registration files submitted in China and the EU[34]. - The company is exploring potential mergers and acquisitions to bolster its competitive position in the industry[131]. - The company plans to enhance the economic benefits of its projects due to the rising market prices of core raw materials[72]. Research and Development - Research and development investment rose by 58.73% to ¥63,242,653.28, reflecting an increase in R&D activities[51]. - The company has built a three-tiered technology innovation mechanism, fostering a robust R&D environment with multiple strategic partnerships[48]. - The company aims to enhance its research and development capabilities to innovate new technologies and products[195]. - The research and development expenses increased to CNY 63,242,653.28, up 58.7% from CNY 39,843,629.41 in the previous year[180]. Environmental and Safety Management - The company emphasizes safety and environmental protection as key to sustainable development, facing potential risks from stricter local government enforcement and unforeseen incidents[83]. - The company has established a comprehensive safety management system supported by various regulations and procedures to enhance safety production levels[105]. - Brother Technology reported a total wastewater discharge of 2.758 tons for chemical oxygen demand, which is within the standard limit of 500 mg/L[93]. - The company has implemented a stable operation of RTO incinerators with a total capacity of 30,000 Nm³/h at Brother Vitamin since October 1, 2021[95]. - The company has established a special management system for energy conservation and carbon emission reduction, setting specific targets for energy saving and carbon control[101]. - The company has paid fines totaling RMB 58,000 for environmental violations, indicating a commitment to compliance and remediation efforts[100]. Shareholder and Equity Information - The employee stock ownership plan includes 641 employees holding a total of 6,791,240 shares, representing 0.64% of the company's total equity[90]. - Major shareholder Qian Zhida holds 24.22% of the shares, with a total of 257,395,438 shares[145]. - Major shareholder Qian Zhiming holds 20.15% of the shares, totaling 214,182,400 shares[145]. - The company reported a total of 145,000 CNY in convertible bonds converted to shares in the first half of 2022[142]. - The company has a strategic focus on expanding its market presence and enhancing product development[145]. Future Outlook - Future guidance suggests an expected revenue increase of 20% for the second half of 2022 compared to the first half[130]. - The company plans to expand its market presence, focusing on new product development and technological advancements[192]. - The company has set a performance guidance for the next quarter, projecting a revenue growth of approximately 10%[200]. - The future outlook remains cautious due to market volatility and economic uncertainties impacting overall performance[199].

Financial Performance - The company's operating revenue for the first half of 2022 reached ¥1,809,260,323.57, representing a 40.80% increase compared to ¥1,285,009,042.81 in the same period last year[24]. - Net profit attributable to shareholders was ¥230,638,384.97, a significant increase of 2,828.76% from a loss of ¥8,452,145.58 in the previous year[24]. - The net cash flow from operating activities improved to ¥137,488,833.21, compared to a negative cash flow of ¥122,928,136.75 in the same period last year, marking a 211.84% increase[24]. - Basic earnings per share rose to ¥0.22, a 2,300.00% increase from a loss of ¥0.01 per share in the previous year[24]. - Total assets at the end of the reporting period were ¥5,883,302,434.94, reflecting a 5.03% increase from ¥5,601,478,127.75 at the end of the previous year[24]. - The net assets attributable to shareholders increased by 11.09% to ¥3,327,423,031.91 from ¥2,995,333,019.90 at the end of the previous year[24]. - The weighted average return on equity was 7.26%, a significant improvement from -0.28% in the previous year[24]. - The company reported a significant increase in cash generated from operating activities, amounting to ¥137,488,833.21, a 211.84% increase compared to the previous period[52]. - The gross profit margin for the pharmaceutical and chemical sector was 27.92%, with a year-on-year increase of 16.65%[55]. - The company's cash and cash equivalents increased to ¥70,502,979.04, a 116.23% rise compared to the previous period, mainly due to increased cash flow from operating activities[52]. Strategic Initiatives - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company aims to become a well-known emerging enterprise in the flavors and pharmaceuticals sectors through increased investment and project launches[32]. - The company has integrated the vitamin K3 and chromium tanning agent industry chains through the acquisition of Brother CISA, expanding its product offerings[35]. - The company has initiated the second phase of the phenol project, which is expected to significantly enhance the competitiveness of its phenol product chain[33]. - The company is exploring potential mergers and acquisitions to enhance market presence and product offerings[130]. - The company has a strategic focus on expanding its market presence and enhancing product development[145]. - The company plans to enhance its talent management strategies to meet the growing demand for high-level technical and management personnel due to business expansion[83]. Market and Industry Insights - The global flavor and fragrance market was estimated at $42.6 billion in 2021, projected to grow at a CAGR of 3.6% from 2021 to 2026, reaching $50.2 billion[37]. - The global API market size was approximately $182.2 billion in 2019, expected to reach $245.2 billion by 2024, with a CAGR of 6.1%[38]. - In 2021, China's pharmaceutical manufacturing industry reported revenues of CNY 2,928.85 billion and a profit margin of 21.4%[39]. - The CMO market in China is projected to maintain a compound annual growth rate of over 18% from 2020 to 2025, with a market size exceeding 120 billion yuan by 2025[40]. Risk Management - The company emphasized the importance of risk awareness regarding future plans and development strategies, highlighting potential risks and countermeasures in its management discussion[4]. - The company is facing risks from macroeconomic uncertainties, industry competition, and fluctuations in raw material prices, and plans to enhance R&D capabilities and establish strategic supplier relationships to mitigate these risks[81]. - The company has a significant portion of its sales from overseas, which exposes it to foreign exchange risks that can impact profitability[82]. - The company emphasizes safety and environmental protection as key to sustainable development, facing potential risks from stricter local government enforcement and unforeseen incidents[83]. Environmental and Social Responsibility - The company emphasizes green development and has invested in pollution control equipment to manage wastewater, waste gas, and waste residue effectively[104]. - The company has established emergency response plans for environmental incidents, with documentation filed with local environmental authorities[99]. - The company has actively engaged in social responsibility initiatives, including organizing employees for pandemic prevention volunteer services and creating job opportunities for disabled individuals[103]. - The company has implemented a customer and supplier satisfaction survey mechanism to enhance service levels and protect stakeholder rights[103]. Corporate Governance - The company has experienced changes in its board of directors, with new independent directors elected during the reporting period[87]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[109]. - The company did not engage in any significant litigation or arbitration matters during the reporting period[113]. - The company has a complete inspection system to eliminate unsafe behaviors and conditions[106]. Research and Development - Research and development expenses rose by 58.73% to ¥63,242,653.28, reflecting an increase in R&D activities[51]. - The company has developed a three-tiered technical innovation mechanism, fostering a robust R&D environment[48]. - The company aims to enhance its technological capabilities through ongoing research and development initiatives[198]. Financial Health and Ratios - The company's current ratio improved to 1.45, up 12.40% from the previous year[164]. - The debt-to-asset ratio decreased to 43.44%, down 3.09% compared to the end of last year[164]. - Interest coverage ratio surged to 14.80, a significant increase of 2860.00% year-over-year[166]. - The company's long-term credit rating remains at AA with a stable outlook[165].

Financial Performance - The company's operating revenue for 2021 was approximately ¥2.73 billion, representing a 42.43% increase compared to ¥1.92 billion in 2020[21]. - The net profit attributable to shareholders for 2021 was approximately ¥28.33 million, a slight increase of 1.08% from ¥28.03 million in 2020[21]. - The net profit after deducting non-recurring gains and losses was approximately ¥9.75 million, reflecting a 5.67% increase from ¥9.22 million in 2020[21]. - The total assets at the end of 2021 amounted to approximately ¥5.60 billion, which is a 4.54% increase from ¥5.36 billion at the end of 2020[21]. - The net assets attributable to shareholders decreased by 1.04% to approximately ¥2.99 billion from ¥3.03 billion in 2020[21]. - The company reported a negative net cash flow from operating activities of approximately ¥68.96 million, worsening by 138.90% compared to a negative cash flow of ¥28.87 million in 2020[21]. - Basic and diluted earnings per share remained unchanged at ¥0.03 in 2021, consistent with 2020[21]. - The weighted average return on equity decreased to 0.94% in 2021 from 1.18% in 2020, indicating a decline in profitability[21]. - The overall gross profit margin declined due to lower sales prices and high production costs during the ramp-up phase of new projects[52]. - The gross profit margin for the pharmaceutical and chemical sector was 12.93%, reflecting a decrease of 11.10% compared to the previous year[59]. Revenue and Market Growth - In Q4 2021, the company's operating revenue reached ¥827,116,112.97, marking a significant increase compared to previous quarters[24]. - The net profit attributable to shareholders in Q4 2021 was ¥25,351,555.22, a recovery from a loss of ¥19,576,952.58 in Q2 2021[24]. - The net cash flow from operating activities in Q4 2021 was positive at ¥171,061,567.37, contrasting with negative cash flows in the earlier quarters[24]. - The vitamin market in China is projected to grow by 3.7% in 2021, with an estimated production of 404,000 tons, accounting for 81.8% of global output[30]. - The global flavor and fragrance market is expected to grow at a CAGR of 3.6% from 2021 to 2026, reaching a market size of $50.2 billion by 2026[30]. - The global API market is projected to grow from $182.2 billion in 2019 to $245.2 billion by 2024, with a CAGR of 6.1%[31]. - The Chinese pharmaceutical market has become the third largest globally, with significant profit growth in the pharmaceutical manufacturing sector in 2021[32]. - The CMO/CDMO market in China is expected to maintain a CAGR of over 18% from 2020 to 2025, with a market size exceeding ¥120 billion by 2025[33]. Production and Investment - The company focuses on the pharmaceutical, food, and specialty chemicals sectors, with major products including vitamins, flavors, and pharmaceutical raw materials[35]. - The company has established a production platform for four major vitamins: Vitamin K3, B1, B3, and B5, providing reliable products to various industries[35]. - The company has invested in the flavor and pharmaceutical sectors, aiming to become a recognized emerging enterprise in these fields[36]. - The first phase of the phenol project, with an annual production capacity of 20,000 tons of phenol and 31,100 tons of phenol derivatives, was completed and has started production[36]. - The iodine contrast agent project, with an annual production capacity of 1,000 tons, was also completed and has begun production, targeting X-ray imaging applications[36]. - The company has completed the first phase of a project to produce 13,000 tons of Vitamin B3 and 3,000 tons of flavors and intermediates, which is currently in the equipment debugging stage[46]. - The company has ongoing construction projects for an annual production capacity of 2,190 tons of flavors and 1,500 tons of vitamins and intermediates, with environmental approvals obtained[46]. - The company has a design capacity of 35,600 tons for pharmaceutical and food products, with a utilization rate of 67.58%[46]. Research and Development - The company invested ¥116,001,793.49 in R&D, marking a 66.26% increase compared to the previous year, driven by an expanding product line[70]. - The number of R&D personnel rose to 325, a 2.52% increase from 317 in 2020[72]. - The company holds multiple patents for its products, including Vitamin K3 and Vitamin B1, demonstrating strong R&D capabilities and proprietary technology[45]. - The company obtained 6 invention patents during the reporting period, focusing on innovations in vitamins, flavors, and raw material drugs[53]. Operational Strategies - The company emphasizes a market-oriented operational model, ensuring efficient production and procurement processes to meet customer demands[41]. - The procurement strategy focuses on scientific market forecasting and supplier management, maintaining a stable supply of raw materials[42]. - The marketing strategy is centered on customer satisfaction and building a strong ecosystem, with a focus on direct sales and a global marketing network[43]. - The company has established a comprehensive quality management system, achieving multiple certifications to ensure high production efficiency and safety[41]. Financial Management and Governance - The company launched its first employee stock ownership plan in December 2021 to enhance employee motivation and cohesion[52]. - The company has established a comprehensive internal control system in accordance with relevant laws and regulations, with the audit department responsible for monitoring its effectiveness[144]. - The company has a structured remuneration scheme based on performance evaluations and company operating results[126]. - The company maintains a high level of information disclosure, ensuring that all investors have equal access to company information through designated platforms[112]. - The company has established a strong internal audit and compliance framework to ensure financial accuracy and regulatory adherence[126]. Environmental and Social Responsibility - The company emphasizes safety and environmental protection as key to sustainable development, adhering to legal requirements and enhancing management capabilities[105]. - The company actively engages in public welfare activities, including support for pandemic prevention efforts and job creation for disabled individuals[161]. - The company has been recognized as a "National Green Factory" for its outstanding control in safety, environmental protection, and automation at its Jiujiang base[164]. - The company is committed to green development, focusing on reducing VOC emissions and controlling waste generation through cleaner production processes[163]. Shareholder Engagement - The company emphasizes shareholder rights protection by ensuring transparent communication and participation in shareholder meetings[160]. - The company held 2 shareholder meetings during the reporting period, including 1 annual and 1 extraordinary meeting, all conducted in compliance with legal procedures[109]. - The participation rate of investors in the 2021 first extraordinary general meeting was 45.10%[116]. - The company has a cash dividend policy that complies with its articles of association and relevant regulations, ensuring transparency and protection of minority shareholders' rights[142].

Financial Performance - The company's revenue for Q1 2022 was ¥879,221,669.43, representing a 27.54% increase compared to ¥689,370,526.73 in the same period last year[3] - Net profit attributable to shareholders reached ¥103,018,237.25, a significant increase of 826.02% from ¥11,124,807.00 in the previous year[3] - The net profit after deducting non-recurring gains and losses was ¥92,268,971.91, up 836.58% from ¥9,851,726.82 year-on-year[3] - The basic earnings per share rose to ¥0.10, reflecting a 900.00% increase from ¥0.010 in the same quarter last year[3] - Total operating revenue for Q1 2022 was CNY 879,221,669.43, an increase of 27.6% compared to CNY 689,370,526.73 in Q1 2021[21] - Net profit for Q1 2022 reached CNY 103,018,237.25, significantly higher than CNY 11,124,807.00 in Q1 2021, marking an increase of 825.5%[22] - The company reported a comprehensive income total of CNY 167,620,895.50 for Q1 2022, compared to CNY 565,411.01 in Q1 2021[23] Assets and Liabilities - The company's total assets at the end of the reporting period were ¥5,711,681,393.51, a 1.97% increase from ¥5,601,478,127.75 at the end of the previous year[3] - The total assets as of the end of Q1 2022 amounted to CNY 5,711,681,393.51, up from CNY 5,601,478,127.75 at the end of Q1 2021[19] - Total liabilities decreased to CNY 2,519,107,456.40 in Q1 2022 from CNY 2,606,145,107.85 in Q1 2021, a reduction of 3.3%[19] - The total current assets at the end of the reporting period are ¥2,156,437,961.24, compared to ¥2,079,656,949.76 at the beginning of the year, showing an increase of approximately 3.7%[17] Cash Flow - Cash flow from operating activities showed a net outflow of ¥32,496,893.14, an improvement of 56.67% compared to a net outflow of ¥74,991,152.46 in the previous year[3] - The company's cash flow from operating activities for Q1 2022 was CNY 590,209,869.70, compared to CNY 482,428,666.84 in Q1 2021[25] - The net cash flow from operating activities was -32,496,893.14, an improvement from -74,991,152.46 in the previous year[26] - The total cash inflow from operating activities was 649,826,097.25, an increase from 527,984,989.70 year-over-year[26] - The total cash outflow from operating activities was 682,322,990.39, compared to 602,976,142.16 in the previous year[26] Shareholder Information - The total number of common shareholders at the end of the reporting period is 41,539[10] - The largest shareholder, Qian Zhida, holds 24.22% of shares, amounting to 257,395,438 shares, with 193,046,578 shares pledged[10] Research and Development - Research and development expenses increased by 113.30% to ¥33,703,410.70, reflecting the company's commitment to innovation[7] - Research and development expenses for Q1 2022 were CNY 33,703,410.70, an increase of 113.5% from CNY 15,801,279.23 in Q1 2021[22] Government Support and Penalties - The company received government subsidies amounting to ¥5,311,934.17, which contributed positively to its financial performance[6] - The company received an administrative penalty of ¥12,000 due to non-compliance with safety regulations, which has been paid and rectified[12] Investment Plans - The company plans to invest a total of ¥2.5 billion in the construction of an international pharmaceutical industry base, with ¥1.5 billion allocated for fixed assets and ¥1 billion for R&D[14] - The company has adjusted the use of raised funds, reallocating ¥385 million from a natural flavor project to a phenol and phenolic derivatives project[15]

Financial Performance - The company's revenue for Q3 2021 reached ¥620,868,894.16, representing a 33.38% increase year-over-year, while the year-to-date revenue was ¥1,905,877,936.97, up 34.15% compared to the same period last year[2] - Net profit attributable to shareholders for Q3 2021 was ¥11,433,197.83, a decrease of 62.28% year-over-year, and year-to-date net profit was ¥2,981,052.25, down 97.07% compared to the previous year[2] - The total operating revenue for the third quarter of 2021 was CNY 1,905,877,936.97, an increase of 34% compared to CNY 1,420,731,358.94 in the same period last year[19] - The net profit for the third quarter of 2021 was CNY 2,981,052.25, a significant decrease from CNY 101,879,829.30 in the previous year, indicating a decline of approximately 97%[20] Cash Flow and Liquidity - The company reported a significant decline in cash flow from operating activities, with a net outflow of ¥240,025,756.28, representing a 111.35% decrease year-over-year[7] - The company's cash and cash equivalents decreased from 748,081,305.76 RMB at the end of 2020 to 227,431,333.93 RMB by September 30, 2021, a decline of approximately 69.7%[15] - The cash flow from operating activities for the third quarter was CNY 1,517,878,791.82, compared to CNY 1,281,499,287.86 in the same period last year, showing an increase of 18.5%[23] - The total cash inflow from investment activities was 531,349,293.30 CNY, while cash outflow was 920,818,843.39 CNY, resulting in a net cash flow of -389,469,550.09 CNY[25] - Cash inflow from financing activities amounted to 691,511,666.67 CNY, with cash outflow of 495,828,122.39 CNY, leading to a net cash flow of 195,683,544.28 CNY[25] Assets and Liabilities - The total assets at the end of the reporting period were ¥5,449,545,785.22, reflecting a 1.70% increase from the end of the previous year[2] - The total liabilities increased to CNY 2,449,843,818.65 from CNY 2,331,756,313.34, marking a rise of approximately 5%[17] - The total current assets as of September 30, 2021, amount to 1,950,511,814.96 RMB, compared to 1,918,397,938.14 RMB at the end of 2020, reflecting a slight increase of about 1.7%[15] - Total liabilities amounted to CNY 2,331,756,313.34, with current liabilities at CNY 1,361,184,437.38 and non-current liabilities at CNY 970,571,875.96[29] Shareholder Information - The total number of common shareholders at the end of the reporting period is 48,486[9] - The largest shareholder, Qian Zhida, holds 24.22% of shares, amounting to 257,395,438 shares, with 193,046,578 shares pledged[9] Research and Development - Research and development expenses increased by 42.98% year-over-year, amounting to ¥65,740,258.93, indicating a focus on innovation and new product development[7] - Research and development expenses for the third quarter were CNY 65,740,258.93, up from CNY 45,978,360.50, reflecting a 43% increase year-over-year[20] Investment Activities - Investment income for the period was ¥3,854,016.97, a 112.48% increase compared to the previous year, reflecting higher returns from financial investments[7] - The company plans to invest a total of 2.5 billion RMB in the construction of an international pharmaceutical industry base, with 1.5 billion RMB allocated for fixed assets and 1 billion RMB for R&D and other investments[13] - The company has completed the acquisition of 100% equity in LANXESS CISA PROPRIETARY LIMITED, which is now a wholly-owned subsidiary[11] Employee Compensation - The company paid 225,401,164.47 CNY in employee compensation, an increase from 206,173,163.07 CNY year-over-year[24] - The company has a total of CNY 37,494,544.72 in employee compensation payable, indicating its commitment to employee remuneration[29] Other Financial Metrics - The weighted average return on equity was 1.08%, down 0.35% from the previous year, indicating a decline in profitability[2] - The company reported a basic and diluted earnings per share of CNY 0.003 for the third quarter, down from CNY 0.113 in the previous year[21] - The company experienced a significant decline in other comprehensive income, reporting a tax-adjusted net amount of -CNY 30,108,951.15 compared to -CNY 127,798,212.22 in the previous year[21] - The total comprehensive income includes other comprehensive losses amounting to CNY -59,491,271.85, impacting overall equity[30] Audit and Compliance - The company has not undergone an audit for the third quarter report, which may affect the reliability of the financial data presented[30] - The company adjusted its financial statements in accordance with new leasing standards, impacting the balance sheet[26]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥1,285,009,042.81, representing a 34.52% increase compared to ¥955,235,830.01 in the same period last year[22]. - The net profit attributable to shareholders of the listed company was a loss of ¥8,452,145.58, a decline of 111.81% from a profit of ¥71,573,012.44 in the previous year[22]. - The net cash flow from operating activities was a negative ¥122,928,136.75, worsening by 58.26% compared to a negative ¥77,674,746.04 in the same period last year[22]. - The total operating revenue for the reporting period reached ¥1,285,009,042.81, representing a year-on-year increase of 34.52% compared to ¥955,235,830.01 in the same period last year[50]. - The net profit for the period was a loss of CNY 845,210, which is a decline of 111.81% compared to the same period last year[42]. - The basic earnings per share were -¥0.01, a decrease of 112.50% from ¥0.080 in the same period last year[22]. - The diluted earnings per share were also -¥0.01, reflecting the same decline of 112.50% compared to ¥0.080 in the previous year[22]. - The total comprehensive income for the first half of 2021 was a loss of ¥8,479,389.88, compared to a loss of ¥51,380,459.24 in the same period of 2020[171]. Assets and Liabilities - The total assets at the end of the reporting period were ¥5,478,583,842.97, an increase of 2.24% from ¥5,358,440,754.77 at the end of the previous year[22]. - The total liabilities rose to CNY 2,460,235,615.56, up from CNY 2,331,756,313.34, indicating an increase of approximately 5.52%[162]. - Owner's equity totaled CNY 3,018,348,227.41, slightly down from CNY 3,026,684,441.43, a decrease of about 0.22%[163]. - Cash and cash equivalents decreased significantly to CNY 124,918,522.49 from CNY 615,983,358.53, a decline of approximately 79.8%[165]. - The company's current liabilities ratio is 144.63%, an increase of 3.69% compared to the previous year, while the debt-to-asset ratio stands at 44.91%, up by 1.39%[151]. Cash Flow - The net cash flow from operating activities was -¥122,928,136.75, a decrease of 58.26% from -¥77,674,746.04 in the previous period[48]. - The net cash flow from investing activities was -¥431,863,450.78, an improvement of 45.95% compared to -¥799,063,652.13 in the previous period[48]. - The cash flow from financing activities showed a net increase of 122,891,463.68 CNY, down from 283,887,078.45 CNY in the previous period, reflecting reduced financing inflows[179]. Market and Industry Insights - The global API market was approximately $182.2 billion in 2019 and is expected to reach $245.2 billion by 2024, with a compound annual growth rate (CAGR) of 6.1%[36]. - The Chinese pharmaceutical market has become the third largest in the world, with a revenue of 1,116.23 billion yuan and a profit of 224.48 billion yuan in the first five months of 2021, reflecting year-on-year growth rates of 27.6% and 81.7% respectively[36]. - The global CMO/CDMO market is projected to exceed $102.5 billion in 2021, with a CAGR of approximately 12.73% from 2017 to 2021[37]. - The leather chemicals industry is expected to grow as it aligns with the circular economy, with increasing demand for high-end leather chemicals and application services driven by consumer preferences for fashion and sustainability[38]. Research and Development - The company has developed a three-tiered technology innovation mechanism to enhance R&D capabilities and maintain competitive advantages[43]. - Research and development expenses increased to ¥39,843,629.41, up 19.4% from ¥33,364,923.67 in the previous year[168]. - The company is focusing on expanding its market presence through new product development and strategic investments[64][65]. Environmental and Social Responsibility - The company is committed to improving its safety and environmental management practices to ensure sustainable development, despite potential regulatory challenges[72]. - The company has established wastewater treatment facilities with a capacity of 350 tons/day for its main operations, which have been operating stably since November 2013[82]. - The company actively engages in social responsibility initiatives, including employment opportunities for disabled individuals and participation in charitable activities[90]. Shareholder and Corporate Governance - The company emphasizes shareholder rights protection by ensuring transparent communication and participation in shareholder meetings, adhering to regulations for fair information disclosure[88]. - The company has not implemented any employee stock ownership plans or other incentive measures during the reporting period[78]. - The company’s major shareholders did not engage in any agreed repurchase transactions during the reporting period[134]. Legal and Compliance - The company reported a litigation case involving an amount of 33.43 million yuan, currently in the trial phase[100]. - Another litigation case involves 164.64 million yuan, also in the trial phase[100]. - The half-year financial report has not been audited[97].

Financial Performance - The company's operating revenue for 2020 was CNY 1,918,791,969.17, representing a 52.56% increase compared to CNY 1,257,717,108.48 in 2019[19] - The net profit attributable to shareholders for 2020 was CNY 28,028,820.43, a decrease of 36.04% from CNY 43,825,506.17 in 2019[19] - The total profit for the year was 41.20 million yuan, representing a year-on-year decrease of 13.17%[51] - The net profit after deducting non-recurring gains and losses was CNY 9,224,159.32, down 32.16% from CNY 13,597,471.92 in 2019[19] - The basic earnings per share for 2020 were CNY 0.03, down 40.00% from CNY 0.05 in 2019[19] - The weighted average return on net assets for 2020 was 1.18%, a decrease of 0.73% from 1.91% in 2019[19] Cash Flow and Assets - The net cash flow from operating activities improved by 69.42%, reaching CNY -28,867,357.01 in 2020, compared to CNY -94,413,204.39 in 2019[19] - The total assets at the end of 2020 were CNY 5,358,440,754.77, an increase of 24.33% from CNY 4,309,940,220.92 at the end of 2019[19] - The net assets attributable to shareholders increased by 30.64% to CNY 3,026,684,441.43 at the end of 2020, up from CNY 2,316,895,826.60 at the end of 2019[19] - The company's cash and cash equivalents decreased by 5.88% to 748,081,305.76 yuan, mainly due to payments for the acquisition of Brother CISA and funds raised from a private placement[89] Market Position and Growth - The company has established a strong position in the vitamin market, with an estimated production of 390,000 tons in China in 2020, accounting for 80% of global production, and a market value of approximately $3.9 billion[33] - The global vitamin export volume is projected to reach 340,000 tons in 2020, reflecting a growth rate of 20%, with export value around $3.1 billion, an increase of approximately 18% year-on-year[34] - The company is expanding its investment in the flavor and fragrance sector, with the first phase of its key project producing 20,000 tons of phenol and 31,100 tons of phenolic derivatives completed in late 2020[30] - The company aims to build a comprehensive competitive advantage in the flavor and fragrance industry through ongoing investments and project developments[30] Acquisitions and Investments - The company completed a refinancing in December 2020, raising a net amount of 536 million yuan to support its flavor and fragrance segment[52] - The company signed a significant acquisition of 100% equity in Brother CISA for 623.6774 million yuan on January 10, 2020[76] - The acquisition and integration of Brother CISA is expected to strengthen the company's brand, technology, and market advantages in the leather chemicals sector[48] - The company has invested a total of 155,246,000 CNY in a project to produce 20,000 tons of phenol and 31,100 tons of flavoring materials, with a cumulative investment of 703,326,000 CNY by the end of the reporting period[96] Research and Development - The company obtained 7 invention patents and 18 utility model patents during the reporting period, enhancing its technological innovation capabilities[53] - Research and development expenses were 69,771,942.03 yuan in 2020, representing 3.64% of operating revenue, down from 5.60% in 2019[79] - The company has a total of 103 patents related to its main products, showcasing its strong R&D capabilities and proprietary technology[55] Environmental and Safety Compliance - The company emphasizes safety and environmental protection as key components of sustainable development, adhering to legal regulations and enhancing control measures[122] - The company has invested in environmental protection, actively responding to national energy-saving and emission reduction policies, and improving its production processes to minimize environmental impact[164] - The company has achieved compliance with environmental discharge standards, with all monitored pollutants meeting regulatory limits[167] - The company has established emergency response plans for environmental incidents, with all plans filed with local environmental authorities[170] Shareholder and Equity Information - The total number of shares increased from 902,031,312 to 947,618,963 due to the conversion of convertible bonds, adding 45,587,651 shares[183] - The basic earnings per share decreased from 0.05 yuan to 0.04 yuan after the share conversion[180] - The largest shareholder, Qian Zhida, holds 27.16% of the shares, totaling 257,395,438 shares, with 124,810,000 shares pledged[186] - The company did not engage in any repurchase transactions during the reporting period[186] Risks and Challenges - The company has acknowledged potential risks in its future development and has outlined corresponding countermeasures in its report[6] - The company faces risks from macroeconomic uncertainties and industry competition, and it will enhance its R&D capabilities to maintain competitive advantages[121] - The company has a significant portion of its sales from overseas, which exposes it to foreign exchange risks that can impact profitability[122]

Financial Performance - The company's revenue for Q1 2021 was ¥689,370,526.73, representing a 50.48% increase compared to ¥458,113,413.25 in the same period last year[9] - Net profit attributable to shareholders decreased by 43.95% to ¥11,124,807.00 from ¥19,849,624.40 year-on-year[9] - The net profit after deducting non-recurring gains and losses fell by 48.77% to ¥9,851,726.82 compared to ¥19,231,391.57 in the previous year[9] - Basic and diluted earnings per share decreased by 54.55% to ¥0.01 from ¥0.022 year-on-year[9] - The company's net profit for the current period is ¥388,429.06, a recovery from a net loss of ¥21,525,124.89 in the previous period[48] - The total comprehensive income for the current period is ¥388,429.06, recovering from a total comprehensive loss of ¥21,525,124.89 in the previous period[48] Cash Flow - The net cash flow from operating activities was negative at -¥74,991,152.46, a 9.42% increase in outflow compared to -¥68,532,959.78 in the same period last year[9] - The total cash inflow from operating activities is ¥527,984,989.70, up from ¥375,406,320.57 in the previous period[51] - The cash flow from investing activities shows a net outflow of ¥41,820,242.13, an improvement from a net outflow of ¥739,395,696.34 in the previous period[51] - The cash inflow from financing activities totaled ¥120,000,000.00, up from ¥93,735,600.00 year-over-year[55] - The net cash flow from financing activities was -¥20,395,050.93, a decrease from an inflow of ¥28,399,224.32 in the same quarter last year[55] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,404,045,046.43, a slight increase of 0.85% from ¥5,358,440,754.77 at the end of the previous year[9] - The total liabilities of the company were CNY 2,376,652,875.00, up from CNY 2,331,756,313.34, marking an increase of approximately 1.93%[35] - The company's equity attributable to shareholders reached CNY 3,027,392,171.43, a slight increase from CNY 3,026,684,441.43, indicating a growth of about 0.02%[36] Operating Costs and Expenses - Operating costs surged by 96.02% to CNY 610,758,642.72, mainly due to increased sales volume[16] - The total operating costs amounted to CNY 673,322,828.24, up from CNY 424,390,063.36 in the prior period, indicating a rise in costs associated with revenue growth[42] - Management expenses decreased by 37.67% to CNY 45,935,107.24, attributed to the previous period's project debugging costs[16] - Research and development expenses for the quarter were CNY 15,801,279.23, compared to CNY 14,438,462.98 in the prior year, indicating continued investment in innovation[42] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 50,713[12] - Net assets attributable to shareholders were ¥3,027,392,171.43, showing a marginal increase of 0.02% from ¥3,026,684,441.43 at the end of the previous year[9] Investment Activities - The company plans to invest CNY 2.5 billion in an international pharmaceutical industry base, with CNY 1.5 billion allocated for fixed assets[17] - The company has committed CNY 415 million to wealth management products, with a remaining balance of CNY 395 million[25] - The company did not undergo an audit for the first quarter report[57] - The company did not apply the new leasing standards for the first quarter of 2021[56] Miscellaneous - The company reported non-recurring gains of ¥1,273,080.18 for the period, primarily from government subsidies and asset disposals[10] - There were no violations regarding external guarantees or non-operating fund occupation by controlling shareholders during the reporting period[26][27] - The impact of exchange rate changes on cash and cash equivalents was -¥460,578.96, compared to an increase of ¥325,754.49 in the previous year[55]