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 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 operating revenue for 2020 was ¥1,918,791,969.17, representing a 52.56% increase compared to ¥1,257,717,108.48 in 2019[19] - The net profit attributable to shareholders decreased by 36.04% to ¥28,028,820.43 in 2020 from ¥43,825,506.17 in 2019[19] - The total profit for the year was RMB 41.20 million, representing a year-on-year decrease of 13.17%[58] - The basic earnings per share decreased by 40.00% to ¥0.03 in 2020 from ¥0.05 in 2019[19] - The weighted average return on equity was 1.18% in 2020, down from 1.91% in 2019[19] - The gross profit margin for the pharmaceutical and chemical sector was 24.03%, down from 29.74% in the previous year[73] - The company reported a significant increase in export revenue, reaching ¥1,029,047,635.88, which is 10.29 billion, up 81.81% from the previous year[78] Cash Flow and Investments - The net cash flow from operating activities improved by 69.42%, reaching -¥28,867,357.01 in 2020, compared to -¥94,413,204.39 in 2019[19] - The total cash inflow from financing activities increased by 37.72% to 868,028,742.40 yuan in 2020[90] - The total cash outflow from investment activities decreased by 31.92% to 1,249,591,361.32 yuan in 2020[90] - The company raised a total of 1,226.74 million CNY through public offerings and private placements, with 155.25 million CNY utilized in the current period[110] - The company has a remaining balance of 562.25 million CNY in unused raised funds, which has not been allocated for any specific purpose[110] Assets and Liabilities - The total assets increased by 24.33% to ¥5,358,440,754.77 at the end of 2020, up from ¥4,309,940,220.92 at the end of 2019[19] - The net assets attributable to shareholders rose by 30.64% to ¥3,026,684,441.43 at the end of 2020, compared to ¥2,316,895,826.60 at the end of 2019[19] - Total assets included cash and cash equivalents of 748,081,305.76 yuan, accounting for 13.96% of total assets, down 5.88% from the beginning of the year[97] - Short-term borrowings increased to 409,569,595.82 yuan, accounting for 7.64% of total liabilities, a decrease of 0.49%[98] - Long-term borrowings reached 607,684,936.36 yuan, representing 11.34% of total liabilities, an increase of 3.42% due to financing for the acquisition of Brother CISA[98] Market Position and Growth - The company has established a strong position in the vitamin market, with an estimated 2020 production of 390,000 tons in China, accounting for 80% of global output, and a market value of approximately USD 3.9 billion[33] - The global flavor and fragrance market is projected to reach USD 30.2 billion in 2020, with an annual growth rate of 5.1%, driven by the Asian market's growth rate of 7.4%[34] - The company is focusing on expanding its flavor and fragrance business, with a new project for the production of 30,000 tons of natural flavors underway[30] - The company completed the acquisition of Brother CISA, enhancing its competitiveness in the chromium tanning agent market and extending its vitamin K3 production chain[32] Research and Development - The company obtained 7 invention patents and 18 utility model patents during the reporting period, enhancing its technological innovation capabilities[60] - The company has established partnerships with several domestic pharmaceutical R&D institutions, with 11 formulation products currently under development[31] - Research and development expenses amounted to 69,771,942.03 yuan in 2020, representing 3.64% of operating revenue, down from 5.60% in 2019[86] Risk Management - The company has acknowledged potential risks in its future development and has outlined corresponding countermeasures[6] - The company faces risks from macroeconomic uncertainties, industry competition, and fluctuations in raw material prices, and plans to mitigate these through strategic partnerships and innovation[129] Environmental and Social Responsibility - The company emphasizes safety management, having established a comprehensive safety management system with no major accidents reported during the reporting period[173] - The company has a significant focus on environmental protection and safety, as evidenced by its compliance with local regulations and obtaining necessary permits[67] - The company has actively engaged in social responsibility initiatives, including creating job opportunities for disabled individuals[172] Shareholder and Dividend Policy - The company plans not to distribute cash dividends or issue bonus shares[7] - The company has not made any cash dividend distributions in 2020, despite having positive net profits available for distribution[139] - The company plans to retain undistributed profits for operational and project funding needs, enhancing its risk resilience[140] Corporate Governance - The company has committed to avoid competition and related party transactions, with commitments from all directors and senior management[142] - The company has maintained a continuous audit relationship with Tianjian Accounting Firm for 14 years[149] - The company has not made any changes to its accounting policies or estimates compared to the previous year's financial report[144]

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]

兄弟科技股份有限公司 2020 年第三季度报告全文 兄弟科技股份有限公司 2020 年第三季度报告 2020 年 10 月 1 兄弟科技股份有限公司 2020 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人钱志达、主管会计工作负责人张永辉及会计机构负责人(会计主 管人员)李梨军声明：保证季度报告中财务报表的真实、准确、完整。 2 兄弟科技股份有限公司 2020 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 4,725,982,609.99 | | 4,309,940,220.92 | 9.65% | | 归属于上市公司股东的净资产 | 2,497,204,781.36 | | ...

Financial Performance - The company's operating revenue for the first half of 2020 was ¥955,235,830.01, representing a 52.22% increase compared to ¥627,522,979.01 in the same period last year[17]. - The net profit attributable to shareholders of the listed company reached ¥71,573,012.44, a significant increase of 11,430.42% from a loss of ¥631,688.97 in the previous year[17]. - The net profit after deducting non-recurring gains and losses was ¥66,206,789.09, compared to a loss of ¥14,127,662.50 in the same period last year, marking a 568.63% increase[17]. - The basic earnings per share were ¥0.08, a substantial increase of 8,100.00% from a loss of ¥0.001 per share in the previous year[17]. - The total operating revenue for the reporting period reached ¥955,235,830.01, representing a year-on-year increase of 52.22%[39]. - The total profit for the first half of 2020 was ¥93,418,942.33, a substantial increase from ¥1,530,076.05 in the previous year[164]. - The company reported a basic and diluted earnings per share of ¥0.08 for the first half of 2020, compared to a loss of ¥0.001 per share in the same period of 2019[165]. - The company reported a total revenue of 2,411,271,000 RMB for the first half of 2020, reflecting a decrease of 30.34% compared to the previous period[186]. Assets and Liabilities - The total assets at the end of the reporting period were ¥4,617,685,373.34, reflecting a 7.14% increase from ¥4,309,940,220.92 at the end of the previous year[17]. - The total liabilities increased to CNY 2,352,148,919.58 as of June 30, 2020, compared to CNY 1,993,044,394.32 at the end of 2019, reflecting a growth of 18.1%[157]. - The cash and cash equivalents decreased to CNY 114,337,949.11 from CNY 260,823,078.25, a decline of 56.2%[159]. - The company's long-term borrowings rose to CNY 530,522,944.34 from CNY 341,471,393.26, marking a 55.5% increase[157]. - The total equity attributable to the parent company decreased to CNY 2,265,536,453.76 from CNY 2,316,895,826.60, a decline of 2.2%[157]. Cash Flow - The net cash flow from operating activities was -¥77,674,746.04, an improvement of 13.64% compared to -¥89,941,583.87 in the same period last year[17]. - The net cash flow from investing activities significantly decreased by 386.71% to -¥799,063,652.13, primarily due to the acquisition of Brother CISA[40]. - The net cash flow from financing activities surged by 3,192.56% to ¥283,887,078.45, mainly due to increased bank loans for the acquisition[40]. - The total cash outflow from operating activities was 871,035,740.62 CNY, compared to 641,729,732.70 CNY in the previous period, highlighting increased operational costs[171]. - The ending balance of cash and cash equivalents was 225,849,846.90 CNY, down from 304,098,361.65 CNY, reflecting a decrease in liquidity[172]. Investments and Acquisitions - The acquisition of LANXESS CISA PROPRIETARY LIMITED was completed for EUR 8.305 million, enhancing the company's product chain in vitamin K3 and chromium tanning agents[34]. - The company plans to raise CNY 1.2 billion through a private placement to fund the construction of a 30,000-ton natural flavor project and repay bank loans[34]. - The company completed the acquisition of Brother CISA, which is expected to enhance its market position in the specialty chemicals sector[53]. - The company has invested CNY 96,512,509.60 in the construction of a new project with an expected completion rate of 93.85%[55]. Research and Development - Research and development expenses increased by 20.05% to ¥33,364,923.67, reflecting the company's commitment to innovation[40]. - The company plans to increase R&D investments and improve production processes to mitigate risks and enhance efficiency[78]. - The company reported R&D expenses of CNY 33,364,923.67 for the first half of 2020, an increase from CNY 27,792,509.95 in the same period last year, reflecting a focus on innovation[162]. Market Position and Recognition - The company maintains a strong market position in vitamins and leather chemicals, with significant global market share[29]. - The company has been recognized with multiple honors, including "Zhejiang Province Famous Trademark" and "Zhejiang Export Brand," enhancing its brand reputation[29]. - The company has a robust management team with nearly 30 years of industry experience, ensuring effective strategic direction and operational efficiency[30]. Environmental Compliance - The company reported a chemical oxygen demand (COD) emission of 4.728 tons, which is within the approved limit of 52.4 tons[110]. - The ammonia nitrogen (NH3-N) emission was 0.0228 tons, significantly below the approved limit of 3.688 tons[110]. - The company has established various pollution control facilities, including a waste gas treatment facility with a capacity of 1.8 tons/hour, operational since April 15, 2020, and is currently stable[112]. - The company operates a solid waste incineration furnace with a capacity of 15 tons/day, which has been stable since its operation on August 20, 2018[113]. Risks and Challenges - The company faces risks including raw material price fluctuations, product price volatility, and industry cyclicality[4]. - The company is currently involved in a legal dispute with Zhejiang Province, with potential liabilities amounting to CNY 12 million, but it does not expect significant impact on operations[87]. - The company has not reported any significant environmental incidents or other major issues during the reporting period[116].

Financial Performance - The company's revenue for Q1 2020 was ¥458,113,413.25, representing a 46.97% increase compared to ¥311,707,146.99 in the same period last year[9] - Net profit attributable to shareholders was ¥19,849,624.40, a significant turnaround from a loss of ¥25,424,067.35 in the previous year, marking a 178.07% improvement[9] - The net profit after deducting non-recurring gains and losses was ¥19,231,391.57, up 157.88% from a loss of ¥33,227,742.47 in the same period last year[9] - The company's basic earnings per share increased to ¥0.02 from a loss of ¥0.03, reflecting a 175.96% improvement[9] - Operating revenue rose by 46.97% to ¥458,113,413.25, mainly attributed to the inclusion of Brother CISA in the consolidated financial statements[17] - Net profit reached ¥19,849,624.40, a significant turnaround from a net loss of ¥25,424,067.35 in the previous year, driven by increased product margins[17] - The company reported a total comprehensive income of -21,525,124.89 CNY for the quarter, compared to -22,043,764.14 CNY in the same quarter last year[50] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,556,715,270.27, a 5.73% increase from ¥4,309,940,220.92 at the end of the previous year[9] - The company's total assets increased to CNY 3,621,593,364.76 from CNY 3,607,778,218.95[41] - Total liabilities increased to CNY 2,327,760,551.63 from CNY 1,993,044,394.32, which is an increase of about 16.8%[37] - The company's short-term borrowings rose to CNY 557,824,893.04 from CNY 350,427,513.57, reflecting an increase of approximately 59.3%[36] - Long-term borrowings also increased to CNY 465,780,209.12 from CNY 341,471,393.26, representing a growth of about 36.5%[37] - The total equity attributable to shareholders decreased to CNY 2,228,954,718.64 from CNY 2,316,895,826.60, a decline of approximately 3.8%[38] Cash Flow - The net cash flow from operating activities was negative at -¥68,532,959.78, worsening by 60.53% compared to -¥42,691,727.13 in the same period last year[9] - Investment activities generated a net cash outflow of ¥739,395,696.34, primarily due to payments for the acquisition of Brother CISA[18] - The cash inflow from financing activities included 93,735,600.00 CNY from borrowings, showing reliance on debt financing[57] - The cash flow from financing activities resulted in a net inflow of 307,607,944.59 CNY, compared to 661,125.00 CNY in the same period last year[54] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 35,907[13] - The company reported a significant drop in cash reserves, which may impact liquidity and operational flexibility moving forward[34] Government Support and Compliance - The company received government subsidies amounting to ¥1,478,051.56 during the reporting period[10] - The company has strengthened safety measures and compliance following administrative penalties related to safety violations at its subsidiary, Brother Vitamin[19] Changes in Accounting Standards - The company has adopted new revenue and leasing standards starting in 2020, which may impact future financial reporting[58]

Financial Performance - The company's operating revenue for 2019 was approximately ¥1.26 billion, a decrease of 11.12% compared to ¥1.42 billion in 2018[17]. - Net profit attributable to shareholders increased by 100.88% to approximately ¥43.83 million from ¥21.82 million in 2018[17]. - The net profit after deducting non-recurring gains and losses was approximately ¥13.60 million, a significant increase of 223.92% compared to a loss of ¥10.97 million in 2018[17]. - The company's total assets at the end of 2019 were approximately ¥4.31 billion, reflecting a growth of 20.32% from ¥3.58 billion at the end of 2018[17]. - The net assets attributable to shareholders increased by 2.57% to approximately ¥2.32 billion from ¥2.26 billion in 2018[17]. - The basic earnings per share rose by 66.67% to ¥0.05 from ¥0.03 in 2018[17]. - The weighted average return on net assets was 1.91%, up from 0.97% in 2018[17]. - The net cash flow from operating activities was negative at approximately -¥94.41 million, a decline of 132.21% compared to ¥293.09 million in 2018[17]. - The company reported a government subsidy of approximately ¥13.59 million in 2019, which is a significant increase from ¥8.56 million in 2018[22]. - The fair value changes of financial assets resulted in a profit of approximately ¥16.17 million in 2019, compared to ¥30.08 million in 2018, indicating a decrease in trading performance[22]. Market and Product Development - The company established a wholly-owned subsidiary in Hong Kong and a wholly-owned subsidiary in South Africa, aiming to acquire 100% equity of LANXESS CISA PROPRIETARY LIMITED, enhancing its market position in the chromium tanning agent sector[26]. - The vitamin product sales were impacted by the African swine fever, leading to fluctuations in market demand, although the overall demand for vitamins remains steady[30]. - The leather chemicals industry is shifting towards cleaner and functional products, which aligns with the company's focus on developing green leather chemicals[30]. - The pharmaceutical raw materials market is experiencing stable growth, driven by increasing health and nutrition awareness, despite challenges from regulatory changes and environmental scrutiny[30]. - The company completed the acquisition of 100% equity of LANXESS CISA Proprietary Limited for EUR 8.305 million to enhance its market competitiveness in leather chemicals and vitamin K3[40]. - The company’s construction projects for new products, including phenol and iodine contrast agents, began trial production by the end of 2019[40]. Operational Efficiency and Management - The company has implemented a comprehensive supplier evaluation system to enhance procurement management, ensuring cost advantages and quality assurance[28]. - The company’s internal management emphasizes systematic and standardized operations, supported by the integration of various information systems[36]. - The company aims to enhance its organizational structure and management processes to improve operational efficiency and data-driven decision-making[81]. - The company will focus on technology innovation to strengthen its core competitive advantages, guided by market demand and technological development[81]. - The company intends to improve its global marketing network to enhance customer satisfaction and create competitive advantages through service[81]. - The company has established a three-level technology innovation mechanism to enhance collaboration in research and development[81]. Financial Management and Investments - The net cash flow from investment activities dropped by 366.02% to -289.75 million CNY, mainly due to reduced financial management activities[58]. - The net cash flow from financing activities increased by 537.71% to 630.30 million CNY, driven by long-term borrowings for the acquisition of Brother CISA[58]. - The company has committed to projects including the annual production of 13,000 tons of Vitamin B3 and 10,000 tons of 3-cyanopyridine, with a total investment commitment of RMB 420 million[72]. - The project for the annual production of 20,000 tons of phenol and 31,100 tons of phenolic derivatives is expected to reach operational status by June 2020[72]. - The company plans to continue expanding its market presence and product offerings in the coming years[72]. Corporate Governance and Compliance - The company has established a governance structure that includes a shareholders' meeting, board of directors, and supervisory board to ensure transparency and fairness[140]. - The company has implemented various communication channels to enhance interaction with investors, improving transparency and trust[140]. - The company is committed to continuous and stable returns to shareholders, adhering to profit distribution policies and corporate governance[140]. - The company has adhered to commitments made regarding avoiding competition and regulating related transactions[94]. - The company’s financial statements have been adjusted retrospectively due to changes in accounting policies as per the Ministry of Finance's notifications[97]. Environmental and Social Responsibility - The company emphasizes the importance of safety and environmental protection, aiming to enhance safety management levels and promote clean production[81]. - The company has invested in environmental protection, enhancing employee awareness through various training programs, and has improved energy conservation and emission reduction levels[142]. - The wastewater treatment facility of the company has a processing capacity of 350 tons per day and has been operating stably since November 15, 2013[145]. - The company has created job opportunities for disabled individuals, contributing to social harmony[142]. - The company has actively participated in social welfare initiatives, supporting local education, culture, and health[142]. Employee Management and Development - The company has implemented a new "salary management plan" and "performance management plan" to enhance employee welfare and competitiveness[141]. - The company has a performance evaluation mechanism to enhance employee accountability and execution[196]. - The company has a comprehensive training plan that includes programs for new graduates and management development[197]. - The total number of employees in the company is 2,381, with 586 in the parent company and 1,795 in major subsidiaries[194]. - The company follows a compensation policy based on legality, fairness, motivation, and competitiveness to attract and retain talent[196]. Shareholder and Equity Management - The company completed the repurchase of 6,791,240 shares, accounting for 0.7529% of the total share capital of 902,031,312 shares, with a total payment of 30,000,260.48 RMB[150]. - The company’s convertible bonds converted into 24,400,560 shares during the year, with a total conversion amount of 130,540,400 RMB[156]. - The company has not conducted any repurchase transactions among the top 10 shareholders during the reporting period[166]. - The total number of shareholders at the end of the reporting period was 37,474, with 35,907 being ordinary shareholders[164]. - Major shareholder Qian Zhida holds 28.54% of shares, totaling 257,395,438 shares, with 64,348,860 shares pledged[164].