常州亚玛顿股份有限公司 CHANGZHOU ALMADEN CO.,LTD. 2022 年半年度报告 股票简称：亚玛顿 股票代码：002623 披露日期：二〇二二年八月十五日 常州亚玛顿股份有限公司 2022 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人林金锡、主管会计工作负责人刘芹及会计机构负责人(会计主 管人员)刘芹声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 本报告中涉及的未来发展计划等前瞻性陈述，不构成公司对投资者的实 质承诺，请投资者注意投资风险。 公司在本报告第三节"管理层讨论与分析"中"十、公司面临的风险和 应对措施"部分，详细描述了公司经营中可能存在的风险及应对措施，敬请 投资者关注相关内容。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 第 1 页 | 第一节 重要提示、目录和释义 | | 1 | | --- | --- | --- | | 第二节 公司简介和主要 ...

常州亚玛顿股份有限公司 2022 年第一季度报告全文 证券代码：002623 证券简称：亚玛顿 公告编号：2022-024 常州亚玛顿股份有限公司 2022 年第一季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不 存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度 报告中财务信息的真实、准确、完整。 3.第一季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期 | | --- | --- | --- | --- | | | | | 增减 | | 营业收入（元） | 705,647,975.87 | 576,642,089.58 | 22.37% | | 归属于上市公司股东的净利润（元） | 11,040,225.46 | ...

Financial Performance - The company's operating revenue for 2021 was approximately ¥2.03 billion, representing a 12.71% increase compared to ¥1.80 billion in 2020[21]. - The net profit attributable to shareholders decreased by 60.80% to approximately ¥54 million from ¥137 million in 2020[21]. - The net cash flow from operating activities was negative at approximately -¥143 million, a decline of 159.41% compared to ¥241 million in 2020[21]. - The total assets at the end of 2021 were approximately ¥4.89 billion, an increase of 20.70% from ¥4.05 billion at the end of 2020[21]. - The company reported a basic earnings per share of ¥0.30, down 65.12% from ¥0.86 in 2020[21]. - The company experienced a substantial decline in net profit after deducting non-recurring gains and losses, which fell by 81.14% to approximately ¥13.57 million in 2021[21]. - The company reported a weighted average return on equity of 1.92% for 2021, down from 6.20% in 2020[21]. - Operating profit decreased to CNY 60,978,500, a decline of 62.28% year-on-year, while net profit attributable to shareholders fell by 60.80% to CNY 53,999,000[47]. - The revenue from the renewable energy sector accounted for 93.64% of total revenue, with a year-on-year increase of 8.35%[54]. - The company reported a significant increase of 276.25% in revenue from electronic glass and display products, contributing 5.41% to total revenue[54]. Dividend Distribution - The company plans to distribute a cash dividend of 0.60 CNY per 10 shares to all shareholders, based on a total of 199,062,500 shares[5]. - The company has a cash dividend distribution plan, with a total cash dividend amount of 11,943,750.00 CNY, which is 100% of the total profit distribution[162]. - The company plans to distribute at least 10% of the distributable profit as cash dividends annually, with a cumulative distribution of no less than 30% of the average annual distributable profit over three years[185]. Business Expansion and Development - The company has expanded its main business to include the production and sales of ultra-thin ≤2.0mm photovoltaic glass and ultra-thin double-glass components, following the completion of its fundraising project[19]. - The company has entered the photovoltaic power station investment and operation sector to promote its ultra-thin double-glass components through self-built demonstration projects[19]. - The company has launched a multifunctional lightweight reinforced optoelectronic glass production line project, increasing its product offerings to include electronic glass and display series products[19]. - The company is expanding its large-size, high-power ultra-thin photovoltaic glass processing lines to enhance market share, driven by the growing demand for large-size and thin photovoltaic glass[48]. - The company is seizing opportunities in the BIPV market by developing new products for three application scenarios, including BIPV colored steel tiles and BIPV photovoltaic tiles[49]. - The company plans to achieve a sales volume of 120 million square meters of photovoltaic glass in 2022, primarily focusing on ultra-thin glass with a thickness of ≤2.0mm[101]. - In the BIPV sector, the company aims to construct approximately 50MW of demonstration projects using BIPV colored steel tile products in 2022[102]. - The company intends to complete 300-500 rooftop projects for BIPV photovoltaic tile products by the end of the year, with ongoing discussions for distribution channels in Germany, the UK, Australia, and Japan[102]. Research and Development - The company has established a complete R&D, procurement, production, and sales system, implementing a "sales-driven production" model to meet customer demands effectively[40]. - The company aims to enhance its product competitiveness through continuous technological innovation and has established strategic partnerships with major component manufacturers[43]. - The company is committed to optimizing its product structure and expanding into new fields such as BIPV and energy-saving building materials to create new profit growth points[46]. - The company is focused on extending the lifespan and improving the performance of its products through advanced materials and technologies[74]. - The company has developed a new optical glass for displays that meets industry standards for aging performance, including DH240 and thermal shock tests[75]. - The company is working on a simple and environmentally friendly preparation process for light-collecting glass, which is expected to enhance product performance[75]. - The company is enhancing its competitive edge in the optoelectronic display sector through innovative product development and market expansion strategies[75]. - The company's R&D investment increased by 35.92% to ¥70,249,532.84 in 2021, representing 3.46% of total revenue, up from 2.87% in 2020[77]. Market Trends and Risks - The company anticipates significant growth opportunities in the renewable energy sector due to national policies aimed at carbon neutrality by 2060[33]. - The company faces significant risks from policy changes in the photovoltaic industry, which could lead to a sharp decline in market demand and operational performance if subsidies are reduced or eliminated[106]. - The ongoing COVID-19 pandemic poses a risk to the company's operations and financial performance, with potential impacts on raw material procurement and revenue generation[110]. - The company is closely monitoring accounts receivable due to the long payment terms typical in the photovoltaic industry, which could impact cash flow and financial stability if economic conditions worsen[109]. - The company is actively managing foreign exchange risks as its sales to overseas clients are primarily settled in foreign currencies, which can affect revenue and profit margins[110]. Governance and Compliance - The company has established a robust governance structure, ensuring compliance with regulatory requirements and enhancing investor relations[117]. - The company adheres to legal and regulatory requirements for information disclosure, ensuring all shareholders can access information fairly[121]. - The company has established a transparent performance evaluation and incentive mechanism for senior management, linking compensation to operational performance[123]. - The company has established a comprehensive governance structure and internal control system in compliance with relevant laws and regulations[170]. - The company is committed to maintaining transparency and compliance with all relevant laws and regulations[183]. Employee Management - The company has a total of 673 employees at the end of the reporting period, with 350 in production, 95 in technical roles, and 19 in sales[156]. - The company has set a salary system that links performance assessment results to employee compensation, ensuring a fair and reasonable compensation structure[158]. - The company has established a training program to enhance the overall quality and professional skills of its employees, aligning with business development strategies[159]. - The company emphasizes a "people-oriented" talent strategy, focusing on employee rights protection, health, safety, and job satisfaction, while continuously optimizing the employee care system[175]. Environmental and Social Responsibility - The company actively engages in social responsibility and environmental protection, promoting sustainable development practices[123]. - The company adheres to a green development philosophy, implementing measures for pollution reduction and promoting advanced, energy-efficient technologies[176]. - The company has not reported any significant environmental penalties during the reporting period[173]. - The company has not initiated any poverty alleviation or rural revitalization projects during the reporting period[178].

Dividend Distribution - The company plans to distribute a cash dividend of 0.60 CNY per 10 shares to all shareholders, based on a total of 199,062,500 shares[5]. - The cash dividend distribution accounts for 100% of the total profit distribution amount[164]. - The company committed to distributing at least 10% of the annual distributable profits in cash dividends, with a cumulative distribution of no less than 30% of the average annual distributable profits over three consecutive years[187]. Business Expansion and Operations - The company has expanded its main business to include the production and sales of ultra-thin photovoltaic glass and ultra-thin double-glass components, following the completion of its investment projects[19]. - The company is involved in the investment and operation of photovoltaic power stations to promote the advantages of ultra-thin double-glass components through demonstration projects[19]. - The company has invested in a project in Fengyang, Anhui, to produce 100 million square meters of special optical glass annually, ensuring a stable supply of raw materials for its deep processing business[44]. - The company is expanding its large-size, high-power ultra-thin photovoltaic glass processing lines to enhance market share and improve profitability[50]. - The company plans to expand its market presence by developing curved lightweight double-glass solar modules, targeting BIPV and VIVP applications[78]. Financial Performance - The company reported a significant increase in revenue from the production of electronic glass and display series products after launching a new production line[19]. - The company's operating revenue for 2021 was approximately ¥2.03 billion, representing a 12.71% increase compared to ¥1.80 billion in 2020[21]. - The net profit attributable to shareholders decreased by 60.80% to approximately ¥54 million in 2021, down from ¥137 million in 2020[21]. - The total assets at the end of 2021 were approximately ¥4.89 billion, reflecting a 20.70% increase from ¥4.05 billion at the end of 2020[21]. - The company achieved operating revenue of CNY 2,031,982,715.82, an increase of 12.71% compared to the same period last year[56]. Research and Development - The company has established a complete R&D, procurement, production, and sales system, implementing a "sales-driven production" model to meet customer demands effectively[40]. - The company aims to enhance its product competitiveness through continuous technological innovation and has been recognized as a national high-tech enterprise[45]. - The company's R&D investment increased by 35.92% to approximately CNY 70.25 million, representing 3.46% of total revenue[79]. - The company is developing ultra-thin glass diffusion panels aimed at achieving optical effects comparable to traditional acrylic diffusion panels, with a thickness of ≤2.0mm[76]. Market Trends and Opportunities - The company anticipates significant growth opportunities in the renewable energy sector, driven by national policies targeting carbon neutrality by 2060[33]. - The company experienced a substantial increase in distributed photovoltaic installations, which reached 29.28 GW in 2021, a year-on-year growth of 88.66%[32]. - In 2021, the global newly installed photovoltaic capacity reached approximately 170 GW, a year-on-year increase of 30.77%[31]. - China's newly installed photovoltaic capacity in 2021 was approximately 54.88 GW, a 13.86% increase year-on-year, maintaining its position as the world's largest market[32]. Risk Management - The company emphasizes the importance of risk management and has outlined potential risks and countermeasures in its future development outlook[5]. - The company faces significant risks from policy changes in the photovoltaic industry, which could lead to a sharp decline in market demand if subsidies are reduced or eliminated[107]. - The ongoing COVID-19 pandemic poses a risk to the company's operations and financial performance, with contingency plans in place to mitigate potential impacts[111]. Corporate Governance - The company has established a comprehensive governance structure and internal control system, continuously improving its operational management and governance level[172]. - The governance structure remains robust, with compliance to regulatory standards ensuring effective oversight and management practices[118]. - The company adheres to legal and regulatory requirements for information disclosure, ensuring all shareholders have equal access to information[123]. Employee and Social Responsibility - Employee rights are prioritized, with a focus on health, safety, and job satisfaction, alongside a competitive compensation system and career development opportunities[177]. - The company actively participates in social responsibility initiatives, including tax compliance and support for vulnerable groups[179]. - The company has implemented a supplier evaluation system to ensure dynamic management and collaboration with qualified suppliers, aiming for mutual development[177]. Financial Management - The company has temporarily deposited ¥415 million of idle raised funds into fixed deposits to enhance the efficiency of fund usage[92]. - The company plans to conduct cash management for temporarily idle fundraising funds to maximize shareholder interests[100]. - The company is committed to maintaining compliance with regulatory requirements set by the China Securities Regulatory Commission[156].

常州亚玛顿股份有限公司 2021 年第三季度报告 证券代码：002623 证券简称：亚玛顿 公告编号：2021-052 常州亚玛顿股份有限公司 2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不 存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度 报告中财务信息的真实、准确、完整。 3.第三季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 本报告期比上年同 | 年初至报告期末 | 年初至报告期末比 | | --- | --- | --- | --- | --- | | | | 期增减 | | 上年同期增减 | | 营业收入（元） | 536,916,796.15 | 30.27% | 1,413,469,325.66 | 22.46% ...

[Important Notice, Table of Contents, and Definitions](index=2&type=section&id=%E7%AC%AC%E4%B8%80%E8%8A%82%20%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA%E3%80%81%E7%9B%AE%E5%BD%95%E5%92%8C%E9%87%8A%E4%B9%89) This section provides important notices, lists the report's chapters and their page numbers, and defines key terms used throughout the report [Important Notice](index=2&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) The Board of Directors, Supervisory Board, and senior management guarantee the report's truthfulness, accuracy, and completeness, assuming legal responsibility, while the company plans no cash dividends, bonus shares, or capital reserve conversions - The company plans no cash dividends, no bonus shares, and no capital reserve conversions[4](index=4&type=chunk) [Table of Contents](index=3&type=section&id=%E7%9B%AE%E5%BD%95) This section lists the report's ten chapters with their page numbers and specifies the location of reference documents - Reference documents include signed and sealed financial statements, original drafts of designated newspaper disclosures, the legal representative's signed report text, and other materials, all available at the company's Securities Affairs Department[8](index=8&type=chunk)[9](index=9&type=chunk)[10](index=10&type=chunk) [Definitions](index=5&type=section&id=%E9%87%8A%E4%B9%89) This section defines common terms used in the report, including company names, controlling shareholders, actual controllers, subsidiaries, and photovoltaic industry-specific terminology - Key business-related terms defined: Photovoltaic Anti-Reflective Glass (high-efficiency anti-reflective coated glass), BIPV (Building Integrated Photovoltaics), Ultra-thin Double-Glass Modules (ultra-thin coated glass with cover plate ≤2.0mm and back plate ≤2.0mm)[13](index=13&type=chunk)[14](index=14&type=chunk) [Company Profile and Key Financial Indicators](index=7&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B%E5%92%8C%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) This section outlines the company's basic information, contact details, and presents key accounting data and financial indicators, including revenue, net profit, and cash flow [Company Profile](index=7&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B) This section introduces the company's basic information, including stock abbreviation, code, listing exchange, Chinese and English names, and legal representative - Stock Abbreviation: **Almaden**, Stock Code: **002623**, Listed on: **Shenzhen Stock Exchange**[16](index=16&type=chunk) - The company's legal representative: **Lin Jinxi**[16](index=16&type=chunk) [Contact Person and Contact Information](index=7&type=section&id=%E4%BA%8C%E3%80%81%E8%81%94%E7%B3%BB%E4%BA%BA%E5%92%8C%E8%81%94%E7%B3%BB%E6%96%B9%E5%BC%8F) This section provides the names and contact details, including address, phone, fax, and email, for the company's Board Secretary and Securities Affairs Representative - Board Secretary: **Liu Qin**, Securities Affairs Representative: **Xue Binyuan**[17](index=17&type=chunk) - Contact Address: No. 639, Qinglong East Road, Tianning District, Changzhou City, Jiangsu Province[17](index=17&type=chunk) [Other Information](index=7&type=section&id=%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E6%83%85%E5%86%B5) This section confirms that the company's contact information, information disclosure, and document storage locations remained unchanged during the reporting period - The company's registered address, office address, website, email, information disclosure newspaper, and designated website address remained unchanged[18](index=18&type=chunk)[20](index=20&type=chunk) [Key Accounting Data and Financial Indicators](index=8&type=section&id=%E5%9B%9B%E3%80%81%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) This section discloses key accounting data and financial indicators, showing an 18.13% increase in operating revenue but a 42.49% decrease in net profit attributable to shareholders, alongside a 904.04% surge in net operating cash flow Key Accounting Data and Financial Indicators | Indicator | Current Reporting Period (RMB) | Prior Year Period (RMB) | Change from Prior Year Period | | :--- | :--- | :--- | :--- | | Operating Revenue | 876,552,529.51 | 742,030,425.05 | 18.13% | | Net Profit Attributable to Shareholders of Listed Company | 23,279,893.73 | 40,478,275.36 | -42.49% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Gains/Losses) | 10,480,020.06 | 31,125,201.38 | -66.33% | | Net Cash Flow from Operating Activities | 176,922,864.97 | -22,004,236.49 | 904.04% | | Basic Earnings Per Share (RMB/share) | 0.15 | 0.25 | -40.00% | | Diluted Earnings Per Share (RMB/share) | 0.15 | 0.25 | -40.00% | | Weighted Average Return on Net Assets | 0.98% | 1.91% | -0.93% | | **End of Current Reporting Period** | **End of Prior Year** | **Change from Prior Year-End** | | | Total Assets | 4,795,845,241.91 | 4,053,842,031.16 | 18.30% | | Net Assets Attributable to Shareholders of Listed Company | 3,354,347,772.69 | 2,345,498,282.84 | 43.01% | [Differences in Accounting Data under Domestic and Overseas Accounting Standards](index=8&type=section&id=%E4%BA%94%E3%80%81%E5%A2%83%E5%86%85%E5%A4%96%E4%BC%9A%E8%AE%A1%E5%87%86%E5%88%99%E4%B8%8B%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%B7%AE%E5%BC%82) The company reported no differences in net profit and net assets between international or overseas accounting standards and Chinese accounting standards during the reporting period - The company's financial report shows no differences in net profit and net assets under domestic and overseas accounting standards[22](index=22&type=chunk)[23](index=23&type=chunk) [Non-recurring Gains and Losses and Amounts](index=9&type=section&id=%E5%85%AD%E3%80%81%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%8F%8A%E9%87%91%E9%A2%9D) This section details non-recurring gains and losses for the reporting period, totaling RMB 12,799,873.67, primarily from non-current asset disposal, government grants, and fair value changes Non-recurring Gains and Losses and Amounts | Item | Amount (RMB) | | :--- | :--- | | Gains or losses from disposal of non-current assets | 2,092,134.97 | | Government grants recognized in current profit or loss (excluding those closely related to the company's business and enjoyed at fixed or quantitative standards set by the state) | 8,143,109.63 | | Gains or losses from changes in fair value of trading financial assets, derivative financial assets, trading financial liabilities, derivative financial liabilities, and investment income from disposal of trading financial assets, derivative financial assets, trading financial liabilities, derivative financial liabilities, and other debt investments, excluding effective hedge accounting related to normal business operations | 6,785,294.54 | | Other non-operating income and expenses apart from the above | -1,321,089.97 | | Less: Income tax impact | 2,899,575.50 | | **Total** | **12,799,873.67** | [Management Discussion and Analysis](index=10&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E7%AE%A1%E7%90%86%E5%B1%82%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) This section analyzes the company's main businesses, core competencies, and financial performance, addressing key factors influencing profitability and outlining risk management strategies [Main Businesses Engaged by the Company During the Reporting Period](index=10&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E4%BB%8E%E4%BA%8B%E7%9A%84%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1) The company's main businesses, including solar glass, ultra-thin double-glass modules, photovoltaic power stations, and electronic glass products, remained unchanged, benefiting from "carbon peak and neutrality" goals and 5G technology - The company's main business operations remained unchanged, primarily focusing on solar glass, ultra-thin double-glass modules, photovoltaic power station business, and electronic glass and display series products[29](index=29&type=chunk) - The photovoltaic industry is entering a new phase of large-scale, high-quality development under "carbon peak and neutrality" goals, with an estimated annual new installed capacity of **70-90 GW** during the "14th Five-Year Plan" period[30](index=30&type=chunk)[31](index=31&type=chunk) - The electronic glass and display device industry benefits from the widespread adoption of 5G technology, with rapid development in smart homes and smart cars, and large-screen TV sales expected to grow by **over 30% in 2021**[31](index=31&type=chunk)[32](index=32&type=chunk) [Analysis of Core Competencies](index=11&type=section&id=%E4%BA%8C%E3%80%81%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) The company's core competencies include leading technology in ultra-thin tempered glass and anti-reflection films, strong customer relationships, brand reputation, advanced information management, and an experienced management team - The company holds a leading edge in technologies such as large-area photovoltaic glass anti-reflective film coating with nanomaterials and the production of **≤2.0mm** ultra-thin physically tempered glass, and possesses multiple provincial-level key R&D institutions[33](index=33&type=chunk) - The company has established strategic partnerships with mainstream domestic and international module manufacturers and renowned display manufacturers, cultivating a high-quality customer base[34](index=34&type=chunk) - The "Almaden" brand enjoys high reputation and recognition in the industry, having received numerous honorary titles[35](index=35&type=chunk) - The company implements ERP, MES, and "Cloud Home" information management systems to enhance refined production management and overall efficiency[36](index=36&type=chunk) - The company boasts an experienced management team and a professional technical talent pool, laying a solid human resource foundation for its development[37](index=37&type=chunk) [Analysis of Main Business Operations](index=12&type=section&id=%E4%B8%89%E3%80%81%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) During the reporting period, the company's main business saw a 42.49% decline in net profit despite an 18.13% revenue increase, primarily due to rising raw material costs, falling solar glass prices, and reduced electricity sales, prompting a focus on large-sized, thin-film solar glass expansion - During the reporting period, the company's operating revenue was **RMB 876.55 million**, a **18.13% increase** year-on-year; net profit attributable to shareholders of the listed company was **RMB 23.28 million**, a **42.49% decrease** year-on-year[39](index=39&type=chunk) - The decline in performance was primarily due to a **significant drop in the selling price of photovoltaic glass** (down **50%** compared to the high in Q4 last year), which hurt profitability; inventory glass reserved in Q1 was settled at the Q2 reduced market price, resulting in negative gross profit; and electricity sales decreased by **66.77%** year-on-year, impacting gross profit by **RMB 31.91 million**[39](index=39&type=chunk) - The company will accelerate the construction of new and technically upgraded large-sized glass production lines in its fundraising projects, combined with Fengyang kiln supply, to enhance thin glass production capacity and market share[40](index=40&type=chunk) Major Financial Data Year-on-Year Changes | Indicator | Current Reporting Period (RMB) | Prior Year Period (RMB) | Year-on-Year Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 876,552,529.51 | 742,030,425.05 | 18.13% | | | Operating Cost | 802,406,537.66 | 598,599,429.67 | 34.05% | Increase in operating revenue and decrease in gross profit margin | | Selling Expenses | 2,720,472.35 | 3,321,119.44 | -18.09% | | | Administrative Expenses | 28,028,522.35 | 23,999,771.36 | 16.79% | | | Financial Expenses | 10,197,085.88 | 25,464,448.12 | -59.96% | Decrease in bank loans | | Income Tax Expense | 3,151,870.17 | 6,203,740.40 | -49.19% | Decrease in total profit | | R&D Investment | 28,570,494.21 | 17,027,372.67 | 67.79% | Continuous increase in R&D investment | | Net Cash Flow from Operating Activities | 176,922,864.97 | -22,004,236.49 | 904.04% | Increase in cash received from sales of goods | | Net Cash Flow from Investing Activities | 106,008,698.52 | 36,795,690.95 | 188.10% | Recovery of transfer payments related to sale of power station assets | | Net Cash Flow from Financing Activities | 794,176,443.23 | 106,036,791.96 | 648.96% | Completion of private placement refinancing, increase in capital contributions | | Net Increase in Cash and Cash Equivalents | 1,077,490,329.65 | 122,113,455.92 | 782.37% | Completion of private placement refinancing, increase in capital contributions | Operating Revenue Composition (by Industry, Product, Region) | Category | Item | Current Reporting Period Amount (RMB) | Proportion of Operating Revenue | Prior Year Period Amount (RMB) | Proportion of Operating Revenue | Year-on-Year Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **By Industry** | New Energy Industry | 823,594,592.70 | 93.96% | 711,916,842.88 | 95.94% | 15.69% | | | Electronic Glass and Display Device Industry | 39,591,034.20 | 4.52% | 4,231,955.72 | 0.57% | 835.53% | | | Other | 13,366,902.61 | 1.52% | 25,881,626.45 | 3.49% | -48.35% | | **By Product** | Solar Glass | 756,155,500.42 | 86.26% | 590,515,932.53 | 79.58% | 28.05% | | | Solar Modules | 43,501,142.79 | 4.96% | 49,356,738.20 | 6.65% | -11.86% | | | Electricity Sales | 23,937,949.49 | 2.73% | 72,044,172.15 | 9.71% | -66.77% | | | Electronic Glass and Display Devices | 39,591,034.20 | 4.52% | 4,231,955.72 | 0.57% | 835.53% | | | Other | 13,366,902.61 | 1.52% | 25,881,626.45 | 3.49% | -48.35% | | **By Region** | Domestic | 558,329,183.78 | 63.70% | 427,858,711.97 | 57.66% | 30.49% | | | International | 318,223,345.73 | 36.30% | 314,171,713.08 | 42.34% | 1.29% | Industry, Product, or Region Accounting for Over 10% of Company's Operating Revenue or Operating Profit | Category | Item | Operating Revenue (RMB) | Operating Cost (RMB) | Gross Profit Margin | Year-on-Year Change in Operating Revenue | Year-on-Year Change in Operating Cost | Year-on-Year Change in Gross Profit Margin | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **By Industry** | New Energy Industry | 823,594,592.70 | 753,981,319.73 | 8.45% | 15.69% | 32.30% | -57.62% | | | Electronic Glass and Display Device Industry | 39,591,034.20 | 40,835,432.95 | -3.14% | 835.53% | 515.17% | 94.47% | | **By Product** | Solar Glass | 756,155,500.42 | 687,876,873.19 | 9.03% | 28.05% | 40.65% | -47.44% | | | Solar Modules | 43,501,142.79 | 50,498,157.00 | -16.08% | -11.86% | 2.94% | -2,735.44% | | | Electricity Sales | 23,937,949.49 | 15,606,289.54 | 34.81% | -66.77% | -50.93% | -37.69% | | | Electronic Glass and Display Devices | 39,591,034.20 | 40,835,432.95 | -3.14% | 835.53% | 515.17% | 94.47% | | **By Region** | Domestic | 544,963,772.67 | 525,642,129.17 | 3.55% | 35.57% | 54.96% | -77.29% | | | International | 318,221,854.23 | 283,570,496.72 | 10.89% | 1.29% | 19.48% | -55.47% | - The gross profit margin for solar glass decreased by **47.44%** year-on-year, mainly due to a significant drop in the selling price of photovoltaic glass and the settlement of Q1 inventory glass at reduced market prices[48](index=48&type=chunk)[49](index=49&type=chunk) - The gross profit margin for solar modules decreased by **2,735.44%** year-on-year, primarily due to a substantial increase in production costs from rising silicon material and commodity prices, decreased demand, and higher fixed cost allocation[49](index=49&type=chunk) [Analysis of Non-Main Business Operations](index=16&type=section&id=%E5%9B%9B%E3%80%81%E9%9D%9E%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) Non-main business operations impacted total profit, with investment income contributing 36.18% from wealth management, which is unsustainable, and asset impairment losses accounting for -20.16% due to inventory write-downs Impact of Non-Main Business Operations on Total Profit | Item | Amount (RMB) | Proportion of Total Profit | Reason for Formation | Sustainability | | :--- | :--- | :--- | :--- | :--- | | Investment Income | 10,104,114.79 | 36.18% | Primarily from wealth management income during the reporting period | No | | Asset Impairment | -5,629,782.58 | -20.16% | Primarily due to inventory impairment provisions during the reporting period | No | | Non-operating Income | 983,036.82 | 3.52% | | No | | Non-operating Expenses | 2,262,615.04 | 8.10% | | No | [Analysis of Asset and Liability Status](index=16&type=section&id=%E4%BA%94%E3%80%81%E8%B5%84%E4%BA%A7%E5%8F%8A%E8%B4%9F%E5%80%BA%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) At the end of the reporting period, total assets increased by 18.30% and net assets attributable to shareholders by 43.01%, driven by a 16.00% surge in cash from private placement, while fixed assets decreased and right-of-use assets and lease liabilities were first recognized under new accounting standards, with overseas subsidiary Almaden Middle East North Africa reporting a RMB 2.98 million loss Major Changes in Asset Composition | Item | Amount at End of Current Reporting Period (RMB) | Proportion of Total Assets | Amount at End of Prior Year (RMB) | Proportion of Total Assets | Change in Proportion | Explanation of Major Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Bank Balances | 1,756,585,119.01 | 36.63% | 836,467,224.01 | 20.63% | 16.00% | Completion of private placement refinancing, receipt of raised funds | | Accounts Receivable | 289,324,275.38 | 6.03% | 471,386,004.28 | 11.63% | -5.60% | | | Fixed Assets | 1,018,269,418.32 | 21.23% | 1,257,326,741.12 | 31.02% | -9.79% | | | Right-of-Use Assets | 256,522,837.06 | 5.35% | | | 5.35% | | | Short-term Borrowings | 487,839,065.28 | 10.17% | 629,330,920.75 | 15.52% | -5.35% | | | Lease Liabilities | 122,401,534.34 | 2.55% | | | 2.55% | | - The overseas wholly-owned subsidiary, Almaden Middle East North Africa, had total assets of **RMB 78.83 million** and incurred a loss of **RMB 2.98 million** during the reporting period[55](index=55&type=chunk) - At the end of the reporting period, the total amount of restricted assets was **RMB 607,025,129.74**, primarily including cash and bank balances, accounts receivable financing, fixed assets, right-of-use assets, and long-term equity investments[56](index=56&type=chunk) [Analysis of Investment Status](index=18&type=section&id=%E5%85%AD%E3%80%81%E6%8A%95%E8%B5%84%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) The company's investment amounted to RMB 11 million, a 4.19% increase year-on-year, with no significant equity, non-equity, securities, or derivative investments during the reporting period - The investment amount for the reporting period was **RMB 11,000,000.00**, an increase of **4.19%** compared to the same period last year[57](index=57&type=chunk) - The company had no securities investments or derivative investments during the reporting period[58](index=58&type=chunk)[59](index=59&type=chunk) [Major Asset and Equity Sales](index=18&type=section&id=%E4%B8%83%E3%80%81%E9%87%8D%E5%A4%A7%E8%B5%84%E4%BA%A7%E5%92%8C%E8%82%A1%E6%9D%83%E5%87%BA%E5%94%AE) The company did not engage in any significant asset or equity sales during the reporting period - The company did not sell any significant assets or equity during the reporting period[60](index=60&type=chunk)[61](index=61&type=chunk) [Analysis of Major Holding and Participating Companies](index=19&type=section&id=%E5%85%AB%E3%80%81%E4%B8%BB%E8%A6%81%E6%8E%A7%E8%82%A1%E5%8F%82%E8%82%A1%E5%85%AC%E5%8F%B8%E5%88%86%E6%9E%90) This section discloses the financial performance of major subsidiaries and associates significantly impacting net profit, including Jiangsu Almaden Power Investment and Almaden Middle East North Africa, with some subsidiaries reporting losses Major Subsidiaries and Associates with Over 10% Impact on Company's Net Profit | Company Name | Company Type | Main Business | Registered Capital (RMB) | Total Assets (RMB) | Net Assets (RMB) | Operating Revenue (RMB) | Operating Profit (RMB) | Net Profit (RMB) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Jiangsu Almaden Power Investment Co., Ltd. | Subsidiary | Design, development, investment, construction, and operation management of solar power station projects; comprehensive utilization and operation of photovoltaic power stations; photovoltaic power generation technology consulting and services | 20,000,000 | 513,272,200 | 91,238,500 | 21,557,200 | 3,499,700 | 968,100 | | Almaden Middle East North Africa Co., Ltd. | Subsidiary | Trade of solar systems and related components; manufacturing of solar panels; production and assembly of lighting accessories and fixtures; manufacturing of safety glass | | 78,829,800 | 55,627,600 | 5,759,100 | -2,984,800 | -2,984,800 | | Ningbo Bonded Area Almaden New Energy Investment Partnership (Limited Partnership) | Subsidiary | Industrial investment, venture capital, investment consulting (excluding securities, futures), enterprise management consulting, business consulting (the above consulting shall not engage in brokerage), exhibition services, marketing planning | 500,000,000 | 574,830,300 | 564,722,300 | 5,579,500 | 9,864,100 | 7,795,900 | | Changzhou Andy New Material Co., Ltd. | Subsidiary | Manufacturing and sales of concentrating devices and inverter equipment; R&D, manufacturing, and sales of high-molecular materials such as EVA, TPT | 20,000,000 | 13,860,000 | 7,958,500 | 210,600 | -2,802,100 | -2,537,400 | | Gui'an New Area Almaden Optoelectronic Material Co., Ltd. | Subsidiary | Manufacturing and sales of high-efficiency solar cells, modules and system integration products, solar thermal systems, new energy storage materials and equipment | 50,000,000 | 78,102,600 | 32,480,600 | 3,529,500 | -1,403,100 | -1,403,100 | [Information on Structured Entities Controlled by the Company](index=20&type=section&id=%E4%B9%9D%E3%80%81%E5%85%AC%E5%8F%B8%E6%8E%A7%E5%88%B6%E7%9A%84%E7%BB%93%E6%9E%84%E5%8C%96%E4%B8%BB%E4%BD%93%E6%83%85%E5%86%B5) The company did not control any structured entities during the reporting period - The company had no controlled structured entities during the reporting period[64](index=64&type=chunk) [Risks Faced by the Company and Countermeasures](index=20&type=section&id=%E5%8D%81%E3%80%81%E5%85%AC%E5%8F%B8%E9%9D%A2%E4%B8%B4%E7%9A%84%E9%A3%8E%E9%99%A9%E5%92%8C%E5%BA%94%E5%AF%B9%E6%8E%AA%E6%96%BD) The company faces risks from fluctuating performance, raw material prices, intensified competition, accounts receivable, exchange rates, and project construction, which it addresses through industrial restructuring, technological innovation, market expansion, vertical integration, credit management, and project optimization - **Operating performance fluctuation risk**: Affected by high prices in the photovoltaic industry chain, increasing module production costs and power station investment costs suppress terminal demand. The company will monitor industry dynamics, optimize its industrial structure, focus on cost optimization and technological innovation, and expand into the electronic and display markets[64](index=64&type=chunk)[65](index=65&type=chunk) - **Raw material price fluctuation risk**: Rising raw glass prices may impact profits. The company will develop new products to enhance bargaining power and establish deep processing production lines in Fengyang to form a vertically integrated production model to reduce costs[65](index=65&type=chunk) - **Intensified industry competition risk**: The relaxation of photovoltaic rolled glass capacity replacement policies will intensify market competition. The company will leverage its technical advantages in thin glass deep processing, adopt differentiated competition strategies, and reduce costs and increase efficiency[66](index=66&type=chunk) - **Accounts receivable recovery risk**: The photovoltaic industry has long payment cycles, leading to increased accounts receivable. The company will strictly enforce credit management systems, establish collection performance indicators, optimize settlement methods, implement tiered customer management, and strengthen contract review[67](index=67&type=chunk) - **Exchange rate fluctuation risk**: Overseas sales revenue is settled in foreign currencies, and exchange rate fluctuations affect the company's performance. The company will closely monitor exchange rate trends, improve risk early warning and management mechanisms, and rationally utilize foreign exchange tools[69](index=69&type=chunk) - **Fundraising project construction comprehensive risk**: Fundraising projects may face risks such as construction delays, unfavorable market conditions, product price declines, capacity digestion, and fixed asset depreciation. The company will optimize design, strengthen on-site control, monitor market and technological changes, and enhance product R&D and customer development[69](index=69&type=chunk) [Corporate Governance](index=23&type=section&id=%E7%AC%AC%E5%9B%9B%E8%8A%82%20%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86) This section details the company's corporate governance, including shareholder meetings, changes in management, profit distribution plans, and employee incentive programs [Information on Annual and Extraordinary General Meetings Held During the Reporting Period](index=23&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%8F%AC%E5%BC%80%E7%9A%84%E5%B9%B4%E5%BA%A6%E8%82%A1%E4%B8%9C%E5%A4%A7%E4%BC%9A%E5%92%8C%E4%B8%B4%E6%97%B6%E8%82%A1%E4%B8%9C%E5%A4%A7%E4%BC%9A%E7%9A%84%E6%9C%89%E5%85%B3%E6%83%85%E5%86%B5) During the reporting period, the company convened its first extraordinary general meeting in 2021 and the 2020 annual general meeting, approving relevant proposals and making disclosures as required - The **first extraordinary general meeting of 2021** was held on January 7, 2021, with an investor participation rate of **6.57%**[72](index=72&type=chunk) - The **2020 annual general meeting** was held on April 30, 2021, with an investor participation rate of **42.22%**[72](index=72&type=chunk) [Changes in Directors, Supervisors, and Senior Management of the Company](index=23&type=section&id=%E4%BA%8C%E3%80%81%E5%85%AC%E5%8F%B8%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, General Manager Li Zhong resigned due to the expiration of his term and personal reasons - General Manager Li Zhong resigned on May 7, 2021, due to the expiration of his term and personal reasons[74](index=74&type=chunk) [Profit Distribution and Capital Reserve Conversion Plan for the Reporting Period](index=24&type=section&id=%E4%B8%89%E3%80%81%E6%9C%AC%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%88%A9%E6%B6%A6%E5%88%86%E9%85%8D%E5%8F%8A%E8%B5%84%E6%9C%AC%E5%85%AC%E7%A7%AF%E9%87%91%E8%BD%AC%E5%A2%9E%E8%82%A1%E6%9C%AC%E6%83%85%E5%86%B5) The company plans no interim cash dividends, bonus shares, or capital reserve conversions for the reporting period - The company plans no interim cash dividends, no bonus shares, and no capital reserve conversions[75](index=75&type=chunk) [Implementation of Company's Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=24&type=section&id=%E5%9B%9B%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E6%9D%83%E6%BF%80%E5%8A%B1%E8%AE%A1%E5%88%92%E3%80%81%E5%91%98%E5%B7%A5%E6%8C%81%E8%82%A1%E8%AE%A1%E5%88%92%E6%88%96%E5%85%B6%E4%BB%96%E5%91%98%E5%B7%A5%E6%BF%80%E5%8A%B1%E6%8E%AA%E6%96%BD%E7%9A%84%E5%AE%9E%E6%96%BD%E6%83%85%E5%86%B5) The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures in place or implemented during the reporting period - The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures during the reporting period[76](index=76&type=chunk) [Environmental and Social Responsibility](index=25&type=section&id=%E7%AC%AC%E4%BA%94%E8%8A%82%20%E7%8E%AF%E5%A2%83%E5%92%8C%E7%A4%BE%E4%BC%9A%E8%B4%A3%E4%BB%BB) This section addresses the company's environmental compliance and social responsibility initiatives, including pollution control and poverty alleviation efforts [Major Environmental Issues](index=25&type=section&id=%E4%B8%80%E3%80%81%E9%87%8D%E5%A4%A7%E7%8E%AF%E4%BF%9D%E9%97%AE%E9%A2%98%E6%83%85%E5%86%B5) The company and its subsidiaries are not classified as key polluting entities by environmental authorities and received no administrative penalties for environmental issues during the reporting period - The company and its subsidiaries are not classified as key polluting entities and received no environmental administrative penalties during the reporting period[79](index=79&type=chunk) [Social Responsibility](index=25&type=section&id=%E4%BA%8C%E3%80%81%E7%A4%BE%E4%BC%9A%E8%B4%A3%E4%BB%BB%E6%83%85%E5%86%B5) The company has not yet initiated poverty alleviation or rural revitalization efforts during the reporting period - The company has not yet initiated poverty alleviation or rural revitalization efforts during the reporting period[80](index=80&type=chunk) [Significant Matters](index=26&type=section&id=%E7%AC%AC%E5%85%AD%E8%8A%82%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) This section covers significant corporate events, including commitments, related party transactions, guarantees, and major contracts, along with their implications [Commitments Made by the Company's Actual Controller, Shareholders, Related Parties, Acquirers, and the Company, Fulfilled During the Reporting Period and Overdue Unfulfilled Commitments as of the End of the Reporting Period](index=26&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E3%80%81%E8%82%A1%E4%B8%9C%E3%80%81%E5%85%B3%E8%81%94%E6%96%B9%E3%80%81%E6%94%B6%E8%B4%AD%E4%BA%BA%E4%BB%A5%E5%8F%8A%E5%85%AC%E5%8F%B8%E7%AD%89%E6%89%BF%E8%AF%BA%E7%9B%B8%E5%85%B3%E6%96%B9%E5%9C%A8%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%B1%A5%E8%A1%8C%E5%AE%8C%E6%AF%95%E5%8F%8A%E6%88%AA%E8%87%B3%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E8%B6%85%E6%9C%9F%E6%9C%AA%E5%B1%A5%E8%A1%8C%E5%AE%8C%E6%AF%95%E7%9A%84%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9) During the reporting period, the company's actual controller, controlling shareholder, and other related parties fulfilled all commitments, including share transfer restrictions, non-competition, social security contributions, prevention of fund occupation, anti-dilution measures for private placement, and property-related pledges, with no overdue unfulfilled items - The company's actual controllers, Lin Jinxi and Lin Jinhan, committed to share transfer restrictions, ensuring that the annual transfer of shares does not exceed **25%** of their directly and indirectly held shares in the issuer[83](index=83&type=chunk) - The controlling shareholder and actual controllers committed to avoiding horizontal competition, not engaging in businesses identical or similar to Almaden's operations[83](index=83&type=chunk)[84](index=84&type=chunk) - The actual controllers committed to bearing the corresponding expenses for the company's failure to pay social insurance and housing provident funds for employees[84](index=84&type=chunk)[85](index=85&type=chunk) - The actual controllers committed to preventing fund occupation and strictly adhering to corporate governance regulations[85](index=85&type=chunk) - The controlling shareholder and actual controllers committed to diligently implementing measures to mitigate the dilution of immediate returns from the private placement of shares[85](index=85&type=chunk)[86](index=86&type=chunk)[87](index=87&type=chunk) - The actual controllers committed to compensating for losses arising from unregistered housing leases and land/properties without property certificates[86](index=86&type=chunk)[87](index=87&type=chunk) - The company committed to distributing cash dividends of no less than **10%** of the distributable profit for the current year, with cumulative cash dividends over three consecutive years being no less than **30%**, provided conditions for cash dividends are met[87](index=87&type=chunk) - All commitments were fulfilled on time[87](index=87&type=chunk) [Non-Operating Fund Occupation by Controlling Shareholder and Other Related Parties of the Listed Company](index=30&type=section&id=%E4%BA%8C%E3%80%81%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%B3%E8%81%94%E6%96%B9%E5%AF%B9%E4%B8%8A%E5%B8%82%E5%85%AC%E5%8F%B8%E7%9A%84%E9%9D%9E%E7%BB%8F%E8%90%A5%E6%80%A7%E5%8D%A0%E7%94%A8%E8%B5%84%E9%87%91%E6%83%85%E5%86%B5) The company reported no non-operating fund occupation by its controlling shareholder or other related parties during the reporting period - The company reported no non-operating fund occupation by its controlling shareholder or other related parties during the reporting period[88](index=88&type=chunk) [Irregular External Guarantees](index=30&type=section&id=%E4%B8%89%E3%80%81%E8%BF%9D%E8%A7%84%E5%AF%B9%E5%A4%96%E6%8B%85%E4%BF%9D%E6%83%85%E5%86%B5) The company had no irregular external guarantees during the reporting period - The company had no irregular external guarantees during the reporting period[89](index=89&type=chunk) [Appointment and Dismissal of Accounting Firms](index=31&type=section&id=%E5%9B%9B%E3%80%81%E8%81%98%E4%BB%BB%E3%80%81%E8%A7%A3%E8%81%98%E4%BC%9A%E8%AE%A1%E5%B8%88%E4%BA%8B%E5%8A%A1%E6%89%80%E6%83%85%E5%86%B5) The company's semi-annual financial report was unaudited - The company's semi-annual report was unaudited[90](index=90&type=chunk) [Explanation by the Board of Directors and Supervisory Board on the "Non-Standard Audit Report" for the Reporting Period](index=31&type=section&id=%E4%BA%94%E3%80%81%E8%91%A3%E4%BA%8B%E4%BC%9A%E3%80%81%E7%9B%91%E4%BA%8B%E4%BC%9A%E5%AF%B9%E4%BC%9A%E8%AE%A1%E5%B8%88%E4%BA%8B%E5%8A%A1%E6%89%80%E6%9C%AC%E6%8A%A5%E5%91%8A%E6%9C%9F%22%E9%9D%9E%E6%A0%87%E5%87%86%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A%22%E7%9A%84%E8%AF%B4%E6%98%8E) The company did not have a non-standard audit report during the reporting period - The company had no non-standard audit report during the reporting period[91](index=91&type=chunk) [Explanation by the Board of Directors on the "Non-Standard Audit Report" for the Previous Year](index=31&type=section&id=%E5%85%AD%E3%80%81%E8%91%A3%E4%BA%8B%E4%BC%9A%E5%AF%B9%E4%B8%8A%E5%B9%B4%E5%BA%A6%22%E9%9D%9E%E6%A0%87%E5%87%86%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A%22%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5%E7%9A%84%E8%AF%B4%E6%98%8E) The company provided no explanation regarding a non-standard audit report for the previous year during the reporting period - The company provided no explanation regarding a non-standard audit report for the previous year during the reporting period[91](index=91&type=chunk) [Matters Related to Bankruptcy and Reorganization](index=31&type=section&id=%E4%B8%83%E3%80%81%E7%A0%B4%E4%BA%A7%E9%87%8D%E6%95%B4%E7%9B%B8%E5%85%B3%E4%BA%8B%E9%A1%B9) The company had no bankruptcy or reorganization matters during the reporting period - The company had no bankruptcy or reorganization matters during the reporting period[91](index=91&type=chunk) [Litigation Matters](index=31&type=section&id=%E5%85%AB%E3%80%81%E8%AF%89%E8%AE%BC%E4%BA%8B%E9%A1%B9) The company had no major litigation or arbitration matters during the reporting period, with other concluded lawsuits totaling RMB 28.18 million having minimal impact on performance - There were no major litigation or arbitration matters during the reporting period[92](index=92&type=chunk) - Other litigation matters involved an amount of **RMB 28.18 million**, which have been concluded and had minimal impact on the company's performance[92](index=92&type=chunk) [Penalties and Rectification Status](index=32&type=section&id=%E4%B9%9D%E3%80%81%E5%A4%84%E7%BD%9A%E5%8F%8A%E6%95%B4%E6%94%B9%E6%83%85%E5%86%B5) The company had no penalties or rectification issues during the reporting period - The company had no penalties or rectification issues during the reporting period[93](index=93&type=chunk) [Integrity Status of the Company, its Controlling Shareholder, and Actual Controller](index=32&type=section&id=%E5%8D%81%E3%80%81%E5%85%AC%E5%8F%B8%E5%8F%8A%E5%85%B6%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E3%80%81%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E7%9A%84%E8%AF%9A%E4%BF%A1%E7%8A%B6%E5%86%B5) The company, its controlling shareholder, and actual controller maintained good integrity during the reporting period, with no issues reported - The company reported no integrity issues concerning its controlling shareholder or actual controller during the reporting period[94](index=94&type=chunk) [Major Related Party Transactions](index=32&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%E9%87%8D%E5%A4%A7%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) During the reporting period, the company engaged in routine related party transactions with Fengyang Silicon Valley Intelligent Co., Ltd., purchasing RMB 259.59 million in raw materials, representing 63.87% of similar transactions and within approved limits, with no other significant related party asset, equity, investment, or debt transactions - The company purchased **RMB 259.59 million** in raw materials from Fengyang Silicon Valley Intelligent Co., Ltd., accounting for **63.87%** of similar transactions and not exceeding the approved limit of **RMB 1.5 billion**[94](index=94&type=chunk) - The company had no related party transactions involving asset or equity acquisition/disposal, joint external investments, or related party creditor/debtor relationships during the reporting period[96](index=96&type=chunk)[97](index=97&type=chunk)[98](index=98&type=chunk) [Major Contracts and Their Performance](index=34&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E9%87%8D%E5%A4%A7%E5%90%88%E5%90%8C%E5%8F%8A%E5%85%B6%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) The company had no trusteeship, contracting, or leasing matters, but provided external and subsidiary guarantees totaling 6.06% of net assets, held RMB 249.46 million in unmatured entrusted wealth management, and signed significant solar coated glass sales contracts with Trina Group, LONGi Group, and JA Solar Group for RMB 2.1 billion, RMB 1.5 billion, and RMB 2.1 billion, respectively - The company had no trusteeship, contracting, or leasing arrangements during the reporting period[102](index=102&type=chunk)[103](index=103&type=chunk)[104](index=104&type=chunk) Company Guarantee Status | Guarantee Type | Total Approved Guarantee Amount at Period-End (RMB) | Total Actual Guarantee Balance at Period-End (RMB) | | :--- | :--- | :--- | | Company and its subsidiaries' external guarantees | 60,000,000 | 11,843,200 | | Company's guarantees for subsidiaries | 736,000,000 | 191,508,500 | | **Total Guarantees** | **796,000,000** | **203,351,700** | | Proportion of actual total guarantees to company's net assets | | 6.06% | Entrusted Wealth Management Status | Specific Type | Entrusted Wealth Management Amount (RMB) | Unmatured Balance (RMB) | | :--- | :--- | :--- | | Bank wealth management products | 587,040,000 | 166,462,300 | | Brokerage wealth management products | 63,000,000 | 83,000,000 | | **Total** | **650,040,000** | **249,462,300** | Major Operating Contracts (Photovoltaic Coated Glass) | Name of Counterparty | Total Contract Amount (incl. tax, RMB) | Contract Performance Progress | Sales Revenue Recognized in Current Period and Cumulatively (incl. tax, RMB) | | :--- | :--- | :--- | :--- | | Trina Group | 2,100,000,000 | 10.37% | 217,854,900 | | LONGi Group | 1,500,000,000 | 57.26% | 858,875,700 | | JA Solar Group | 2,100,000,000 | 8.94% | 187,801,000 | [Explanation of Other Significant Matters](index=37&type=section&id=%E5%8D%81%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E9%87%8D%E5%A4%A7%E4%BA%8B%E9%A1%B9%E7%9A%84%E8%AF%B4%E6%98%8E) The company completed a private placement during the reporting period, issuing 39,062,500 new shares and raising RMB 1 billion, which were listed on the Shenzhen Stock Exchange on June 30, 2021 - The company completed a private placement of shares in June 2021, issuing **39,062,500 new shares** and raising a total of **RMB 1 billion**[112](index=112&type=chunk) - The newly issued shares were listed on the Shenzhen Stock Exchange on June 30, 2021, as restricted tradable shares, subject to a **6-month lock-up period** from the date of issuance completion[112](index=112&type=chunk) [Significant Matters of Company Subsidiaries](index=37&type=section&id=%E5%8D%81%E5%9B%9B%E3%80%81%E5%85%AC%E5%8F%B8%E5%AD%90%E5%85%AC%E5%8F%B8%E9%87%8D%E5%A4%A7%E4%BA%8B%E9%A1%B9) The company's subsidiaries had no significant matters during the reporting period - The company's subsidiaries had no significant matters during the reporting period[113](index=113&type=chunk) [Share Changes and Shareholder Information](index=38&type=section&id=%E7%AC%AC%E4%B8%83%E8%8A%82%20%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E5%8F%8A%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) This section details changes in the company's share capital, including the impact of private placement on share structure and the holdings of major shareholders [Share Changes](index=38&type=section&id=%E4%B8%80%E3%80%81%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) Due to a private placement of A-shares, the company's total share capital increased from 160,000,000 to 199,062,500 shares, significantly increasing restricted shares and diluting net assets and earnings per share Share Changes | Item | Number of Shares Before Change (shares) | Proportion Before Change | Increase/Decrease in Current Change (shares) | Number of Shares After Change (shares) | Proportion After Change | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 426,375 | 0.27% | 39,062,500 | 39,488,875 | 19.84% | | II. Unrestricted Shares | 159,573,625 | 99.73% | 0 | 159,573,625 | 80.16% | | **III. Total Shares** | **160,000,000** | **100.00%** | **39,062,500** | **199,062,500** | **100.00%** | - The change in shares was due to a private placement of A-shares, with **39,062,500 new shares** listed on June 30, 2021, as restricted tradable shares[117](index=117&type=chunk) - This issuance had a dilutive effect on net assets per share and earnings per share; for example, basic earnings per share for January-June 2021 decreased from **RMB 0.15/share to RMB 0.12/share**[120](index=120&type=chunk) [Changes in Restricted Shares](index=40&type=section&id=2%E3%80%81%E9%99%90%E5%94%AE%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, 39,062,500 new restricted shares were issued through a private placement, primarily subscribed by institutions and individuals like UBS AG, Lin Jintao, and Fullgoal Fund, with a lock-up period until December 30, 2021 Changes in Restricted Shares | Shareholder Name | Restricted Shares at Beginning of Period (shares) | Restricted Shares Increased in Current Period (shares) | Restricted Shares at End of Period (shares) | Reason for Restriction | Date of Lifting Restriction | | :--- | :--- | :--- | :--- | :--- | :--- | | UBS AG | 0 | 1,171,875 | 1,171,875 | Due to participation in private placement subscription | December 30, 2021 | | Lin Jintao | 0 | 1,171,875 | 1,171,875 | Due to participation in private placement subscription | December 30, 2021 | | Fullgoal Fund Management Co., Ltd. | 0 | 1,210,937 | 1,210,937 | Due to participation in private placement subscription | December 30, 2021 | | Changzhou Tianding Industrial Investment Partnership (Limited Partnership) | 0 | 3,937,500 | 3,937,500 | Due to participation in private placement subscription | December 30, 2021 | | Zhou Ziheng | 0 | 1,289,062 | 1,289,062 | Due to participation in private placement subscription | December 30, 2021 | | China Asset Management Co., Ltd. | 0 | 2,890,625 | 2,890,625 | Due to participation in private placement subscription | December 30, 2021 | | Huatai Asset Management Co., Ltd. | 0 | 1,171,875 | 1,171,875 | Due to participation in private placement subscription | December 30, 2021 | | HFT Fund Management Co., Ltd. | 0 | 828,126 | 828,126 | Due to participation in private placement subscription | December 30, 2021 | | Changzhou Tianning Hongya Industrial Investment Partnership (Limited Partnership) | 0 | 1,953,125 | 1,953,125 | Due to participation in private placement subscription | December 30, 2021 | | Shenzhen Capital Group Co., Ltd. - Shenzhen Capital Group Manufacturing Transformation and Upgrade New Material Fund (Limited Partnership) | 0 | 19,531,250 | 19,531,250 | Due to participation in private placement subscription | December 30, 2021 | | Shanghai Nuotie Asset Management Co., Ltd. | 0 | 3,906,250 | 3,906,250 | Due to participation in private placement subscription | December 30, 2021 | | **Total** | **0** | **39,062,500** | **39,062,500** | | | [Securities Issuance and Listing](index=41&type=section&id=%E4%BA%8C%E3%80%81%E8%AF%81%E5%88%B8%E5%8F%91%E8%A1%8C%E4%B8%8E%E4%B8%8A%E5%B8%82%E6%83%85%E5%86%B5) The company completed the listing of its 2020 private placement of A-shares on June 30, 2021, issuing 39,062,500 shares at RMB 25.60 per share, raising RMB 1 billion, with proceeds secured in a dedicated account following regulatory approval - The company issued its 2020 private placement of A-shares on May 26, 2021, at an issue price of **RMB 25.60/share**, with **39,062,500 shares** issued and listed on June 30, 2021[125](index=125&type=chunk) - The total proceeds raised were **RMB 1,000,000,000.00**, with a net amount of **RMB 986,146,684.00** after deducting issuance expenses[127](index=127&type=chunk) - The raised funds have been managed in dedicated accounts, and a "Tripartite Supervision Agreement for Raised Funds" has been signed[128](index=128&type=chunk) [Company Shareholder Numbers and Shareholding](index=43&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E4%B8%9C%E6%95%B0%E9%87%8F%E5%8F%8A%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5) As of the reporting period end, the company had 21,517 common shareholders, with controlling shareholder Changzhou Almaden Technology Group Co., Ltd. holding 33.85% and Shenzhen Capital Group Co., Ltd. holding 9.81% among the top ten, some of whom acquired restricted shares through private placement - At the end of the reporting period, the total number of common shareholders was **21,517**[132](index=132&type=chunk) Shareholding of Common Shareholders Holding 5% or More, or Top 10 Common Shareholders | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Common Shares Held at End of Reporting Period (shares) | Number of Restricted Common Shares Held (shares) | Pledged, Marked, or Frozen Status | Number (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Changzhou Almaden Technology Group Co., Ltd. | Domestic Non-State-Owned Legal Person | 33.85% | 67,380,200 | 0 | Pledged | 40,000,000 | | Shenzhen Capital Group Co., Ltd. - Shenzhen Capital Group Manufacturing Transformation and Upgrade New Material Fund (Limited Partnership) | Other | 9.81% | 19,531,250 | 19,531,250 | | | | Lin Jinkun | Domestic Natural Person | 5.25% | 10,449,000 | 0 | Frozen | 3,600,000 | | China Construction Bank Co., Ltd. - Fullgoal Low Carbon New Economy Mixed Securities Investment Fund | Other | 2.41% | 4,790,037 | 4,516,600 | | | | Changzhou Tianding Industrial Investment Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Person | 1.98% | 3,937,500 | 3,937,500 | | | | Shanghai Nuotie Asset Management Co., Ltd. - Hefei Zhong'an Haitong Equity Investment Fund Partnership (Limited Partnership) | Other | 1.96% | 3,906,250 | 3,906,250 | | | | China Merchants Bank Co., Ltd. - Fullgoal Clean Energy Industry Flexible Allocation Mixed Securities Investment Fund | Other | 1.71% | 3,404,235 | 703,125 | | | | China Everbright Bank Co., Ltd. - China Asset Management Pan Yi One-Year Fixed Open Mixed Securities Investment Fund | Other | 1.45% | 2,890,625 | 2,890,625 | | | | Changzhou Tianning Hongya Industrial Investment Partnership (Limited Partnership) | Domestic Non-State-Owned Legal Person | 0.98% | 1,953,125 | 1,953,125 | | | | Haitong Securities Co., Ltd. | State-Owned Legal Person | 0.85% | 1,683,144 | 0 | | | - The actual controllers of the controlling shareholder, Changzhou Almaden Technology Group Co., Ltd., Lin Jinxi and Lin Jinhan, are brothers with Lin Jinkun[133](index=133&type=chunk) [Changes in Shareholdings of Directors, Supervisors, and Senior Management](index=46&type=section&id=%E5%9B%9B%E3%80%81%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E5%92%8C%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E6%8C%81%E8%82%A1%E5%8F%98%E5%8A%A8) There were no changes in the shareholdings of the company's directors, supervisors, and senior management during the reporting period - The company's directors, supervisors, and senior management had no changes in their shareholdings during the reporting period[135](index=135&type=chunk) [Changes in Controlling Shareholder or Actual Controller](index=46&type=section&id=%E4%BA%94%E3%80%81%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E6%88%96%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E5%8F%98%E6%9B%B4%E6%83%85%E5%86%B5) The company's controlling shareholder and actual controller remained unchanged during the reporting period - The company's controlling shareholder and actual controller remained unchanged during the reporting period[136](index=136&type=chunk) [Preferred Shares Information](index=47&type=section&id=%E7%AC%AC%E5%85%AB%E8%8A%82%20%E4%BC%98%E5%85%88%E8%82%A1%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) The company had no preferred shares during the reporting period - The company had no preferred shares during the reporting period[139](index=139&type=chunk) [Bond Information](index=48&type=section&id=%E7%AC%AC%E4%B9%9D%E8%8A%82%20%E5%80%BA%E5%88%B8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) The company had no bond-related information during the reporting period - The company had no bond-related information during the reporting period[142](index=142&type=chunk) [Financial Report](index=49&type=section&id=%E7%AC%AC%E5%8D%81%E8%8A%82%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E5%91%8A) This section presents the company's audited financial statements, including balance sheets, income statements, cash flow statements, and detailed notes on accounting policies and financial items [Audit Report](index=49&type=section&id=%E4%B8%80%E3%80%81%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) The company's semi-annual financial report was unaudited - The company's semi-annual financial report was unaudited[144](index=144&type=chunk) [Financial Statements](index=49&type=section&id=%E4%BA%8C%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section provides the company's 2021 semi-annual consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity, comprehensively presenting its financial position, operating results, and cash flows - Consolidated Balance Sheet: Cash and bank balances at period-end were **RMB 1,756,585,119.01**, trading financial assets were **RMB 249,462,279.40**, total assets were **RMB 4,795,845,241.91**. Short-term borrowings were **RMB 487,839,065.28**, total liabilities were **RMB 1,427,960,585.96**. Total owners' equity was **RMB 3,367,884,655.95**[146](index=146&type=chunk)[147](index=147&type=chunk)[148](index=148&type=chunk)[149](index=149&type=chunk) - Consolidated Income Statement: Total operating revenue was **RMB 876,552,529.51**, operating profit was **RMB 29,203,845.91**, net profit was **RMB 24,772,397.52**, and net profit attributable to parent company owners was **RMB 23,279,893.73**[155](index=155&type=chunk)[156](index=156&type=chunk)[157](index=157&type=chunk)[158](index=158&type=chunk) - Consolidated Cash Flow Statement: Net cash flow from operating activities was **RMB 176,922,864.97**, net cash flow from investing activities was **RMB 106,008,698.52**, and net cash flow from financing activities was **RMB 794,176,443.23**[165](index=165&type=chunk)[166](index=166&type=chunk)[167](index=167&type=chunk) [Company Basic Information](index=72&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) This section covers the company's establishment, share capital changes, registered capital, business scope, registered address, legal representative, main products, and consolidated financial statement scope, noting a share capital increase to 199.0625 million shares after a private placement on June 4, 2021 - The company was established on June 29, 2010, and listed on the Shenzhen Stock Exchange on October 13, 2011, with stock code **002623**[186](index=186&type=chunk) - On June 4, 2021, the company increased its share capital by **39,062,500 shares** through a private placement, bringing the total share capital to **199.0625 million shares** as of June 30, 2021[187](index=187&type=chunk) - The company's main business includes the R&D, production, and sales of photovoltaic glass coating technology and double-glass modules, as well as photovoltaic power station operations[190](index=190&type=chunk) - The scope of consolidated financial statements includes the company and all its subsidiaries, such as Jiangsu Almaden Power Investment Co., Ltd. and Almaden Middle East North Africa Co., Ltd[191](index=191&type=chunk)[192](index=192&type=chunk) [Basis of Financial Statement Preparation](index=73&type=section&id=%E5%9B%9B%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E7%9A%84%E7%BC%96%E5%88%B6%E5%9F%BA%E7%A1%80) These financial statements are prepared on a going concern basis, adhering to enterprise accounting standards, with no factors significantly impacting the company's ability to continue as a going concern within 12 months from the reporting period end - The financial statements are prepared on a going concern basis, in compliance with enterprise accounting standards[193](index=193&type=chunk) - There are no factors significantly affecting the company's ability to continue as a going concern within 12 months from the end of the reporting period[194](index=194&type=chunk) [Significant Accounting Policies and Estimates](index=74&type=section&id=%E4%BA%94%E3%80%81%E9%87%8D%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%94%BF%E7%AD%96%E5%8F%8A%E4%BC%9A%E8%AE%A1%E4%BC%B0%E8%AE%A1) This section details the company's significant accounting policies and estimates, including business combinations, financial instruments, inventory, revenue recognition, government grants, and deferred income tax, noting the adoption of new leasing standards from January 1, 2021, and related adjustments - The company prepares its financial statements in accordance with Enterprise Accounting Standards, their application guidelines, interpretations, and other relevant regulations[196](index=196&type=chunk) - The company adopted the new leasing standards from January 1, 2021, leading to adjustments in financial statement items such as consolidated right-of-use assets and consolidated lease liabilities[315](index=315&type=chunk)[316](index=316&type=chunk) - Financial assets are classified as measured at amortized cost, at fair value through other comprehensive income, and at fair value through profit or loss[219](index=219&type=chunk)[220](index=220&type=chunk) - Revenue recognition principle is to recognize revenue when the customer obtains control of the related goods, with goods sales recognized upon customer receipt or bill of lading, and electricity sales recognized upon grid connection to the power company's collection station[299](index=299&type=chunk)[306](index=306&type=chunk) [Taxation](index=109&type=section&id=%E5%85%AD%E3%80%81%E7%A8%8E%E9%A1%B9) This section discloses the company's main tax types and rates, including VAT, urban maintenance and construction tax, and corporate income tax, highlighting preferential tax policies for high-tech enterprises, public infrastructure projects, and small low-profit enterprises, while overseas subsidiaries adhere to local tax regulations - The company's main tax types include Value-Added Tax (**5%-13%**), Urban Maintenance and Construction Tax (**5%-7%**), and Corporate Income Tax (**0%-25%**)[327](index=327&type=chunk) - The company and Gui'an New Area Almaden Optoelectronic Material Co., Ltd. enjoy a **15%** preferential corporate income tax rate as high-tech enterprises[329](index=329&type=chunk) - Some subsidiaries (e.g., Jiangsu Almaden Power Investment Co., Ltd., Kaifeng Jingneng New Energy Technology Co., Ltd., Suining Almaden New Energy Co., Ltd.) enjoy a "three-year exemption, three-year half reduction" corporate income tax incentive for public infrastructure projects[330](index=330&type=chunk) - Some subsidiaries (e.g., Fengxian Richang Agricultural Technology Co., Ltd., Xiangshui Almaden Solar Power Co., Ltd.) are classified as small low-profit enterprises with annual taxable income below **RMB 500,000**, enjoying a preferential corporate income tax policy where income is reduced by **50%** and taxed at a **20%** rate[330](index=330&type=chunk) - The overseas subsidiary, Almaden Middle East North Africa Co., Ltd., adheres to the tax policies of its host country (Dubai), with a Value-Added Tax rate of **5%**[331](index=331&type=chunk)[332](index=332&type=chunk) [Notes to Consolidated Financial Statement Items](index=111&type=section&id=%E4%B8%83%E3%80%81%E5%90%88%E5%B9%B6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E9%A1%B9%E7%9B%AE%E6%B3%A8%E9%87%8A) This section detailed notes on consolidated financial statement items, including cash, receivables, inventory, long-term equity investments, fixed assets, borrowings, payables, revenue, costs, financial expenses, other income, investment income, credit impairment, and asset impairment, with explanations of period-end balances and changes - Cash and bank balances: Period-end balance of **RMB 1,756,585,119.01**, including restricted funds of **RMB 188,897,633.86**[334](index=334&type=chunk) - Trading financial assets: Period-end balance of **RMB 249,462,279.40**, a significant increase from the beginning of the period[336](index=336&type=chunk) - Accounts receivable: Period-end book value of **RMB 289,324,275.38**, with bad debt provision of **RMB 14,856,015.18**[344](index=344&type=chunk)[351](index=351&type=chunk) - Inventory: Period-end book value of **RMB 149,881,467.17**, with inventory depreciation provision of **RMB 26,170,426.14**[379](index=379&type=chunk)[381](index=381&type=chunk) - Fixed assets: Period-end book value of **RMB 1,018,269,418.32**, including temporarily idle machinery and equipment with a book value of **RMB 17,427,835.70**[397](index=397&type=chunk)[401](index=401&type=chunk)[403](index=403&type=chunk) - Short-term borrowings: Period-end balance of **RMB 487,839,065.28**, primarily guarantee-backed and credit-based borrowings[434](index=434&type=chunk) - Operating revenue and operating cost: Current period operating revenue of **RMB 876,552,529.51**, operating cost of **RMB 802,406,537.66**[486](index=486&type=chunk) - Financial expenses: Current period amount of **RMB 10,197,085.88**, a significant decrease from the prior period, mainly due to reduced interest expenses[498](index=498&type=chunk) - Investment income: Current period amount of **RMB 10,104,114.79**, primarily from long-term equity investments accounted for using the equity method, disposal of long-term equity investments, and trading financial asset investments[503](index=503&type=chunk) - Credit impairment losses: Current period amount of **RMB 18,121,844.83**, compared to **-RMB 22,336,033.21** in the prior period, mainly affected by bad debt losses on accounts receivable[505](index=505&type=chunk) - Assets with restricted ownership or use rights: Total **RMB 607,025,129.74** at period-end[537](index=537&type=chunk) [Changes in Consolidation Scope](index=151&type=section&id=%E5%85%AB%E3%80%81%E5%90%88%E5%B9%B6%E8%8C%83%E5%9B%B4%E7%9A%84%E5%8F%98%E6%9B%B4) During the reporting period, the company did not experience business combinations not under common control, business combinations under common control, or disposal of subsidiaries leading to loss of control - The company did not experience business combinations not under common control, business combinations under common control, or disposal of subsidiaries leading to loss of control during the reporting period[546](index=546&type=chunk)[549](index=549&type=chunk)[553](index=553&type=chunk) [Interests in Other Entities](index=153&type=section&id=%E4%B9%9D%E3%80%81%E5%9C%A8%E5%85%B6%E4%BB%96%E4%B8%BB%E4%BD%93%E4%B8%AD%E7%9A%84%E6%9D%83%E7%9B%8A) This section discloses the company's group structure, including wholly-owned and controlled subsidiaries, and key joint ventures and associates like Qianxinan Yilong Almaden New Energy and Feicheng Shengyang New Energy, along with their shareholdings and main financial information - The company owns multiple wholly-owned or controlled subsidiaries, with business natures covering solar power station investment, manufacturing, and other sectors[554](index=554&type=chunk) - The company's significant associates include Qianxinan Yilong Almaden New Energy Co., Ltd. (indirectly held **30%**) and Feicheng Shengyang New Energy Co., Ltd. (directly held **20%**), both accounted for using the equity method[555](index=555&type=chunk)[556](index=556&type=chunk) Key Associate Financial Information (Period-End Balance/Current Period Amount) | Indicator | Qianxinan Yilong Almaden New Energy Co., Ltd. | Feicheng Shengyang New Energy Co., Ltd. | | :--- | :--- | :--- | | Total Assets (RMB) | 253,669,144.34 | 170,495,704.03 | | Total Liabilities (RMB) | 171,860,462.73 | 122,074,174.66 | | Equity Attributable to Parent Company Shareholders (RMB) | 81,808,681.61 | 48,421,529.37 | | Operating Revenue (RMB) | 12,315,386.90 | 12,202,436.06 | | Net Profit (RMB) | 1,889,021.45 | 3,011,555.80 | [Risks Related to Financial Instruments](index=155&type=section&id=%E5%8D%81%E3%80%81%E4%B8%8E%E9%87%91%E8%9E%8D%E5%B7%A5%E5%85%B7%E7%9B%B8%E5%85%B3%E7%9A%84%E9%A3%8E%E9%99%A9) The company manages credit, liquidity, and market risks (interest rate, exchange rate) through credit reviews, accounts receivable monitoring, liquidity planning, and debt portfolio management, maintaining a healthy liquidity ratio of 2.36 at period-end, while exchange rate fluctuations pose potential impacts on net profit and shareholder equity - The company faces credit risk, liquidity risk, and market risk (interest rate risk, foreign exchange risk)[560](index=560&type=chunk) - **Credit risk**: Managed by conducting credit reviews of counterparties and continuously monitoring accounts receivable balances, with the maximum risk exposure equal to the carrying amount of financial assets[562](index=562&type=chunk) - **Liquidity risk**: Managed using cyclical liquidity planning tools, with a liquidity ratio of **2.36** at the end of the reporting period, indicating sufficient liquidity[570](index=570&type=chunk) - **Interest rate risk**: Primarily associated with floating-rate short-term liabilities, managed through a combination of short-term and long-term borrowings. A **0.50%** change in interest rates could lead to an increase or decrease in net profit/shareholder equity of approximately **RMB 31,300**[573](index=573&type=chunk) - **Exchange rate risk**: Primarily related to sales and procurement transactions settled in foreign currencies. A **5.00% depreciation** of the RMB against the USD could increase net profit/shareholder equity by **RMB 4.7674 million**, while a **5.00% appreciation** would decrease it by **RMB 4.7674 million**[575](index=575&type=chunk)[576](index=576&type=chunk) [Disclosure of Fair Value](index=161&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%E5%85%AC%E5%85%81%E4%BB%B7%E5%80%BC%E7%9A%84%E6%8A%AB%E9%9C%B2) This section discloses the fair value of assets measured at fair value at period-end, totaling RMB 580,785,886.73, including trading financial assets, other equity instrument investments, and accounts receivable financing Fair Value of Assets Measured at Fair Value at Period-End | Item | Fair Value at Period-End (RMB) | | :--- | :--- | | Trading financial assets | 249,462,279.40 | | Other equity instrument investments | 174,547,599.90 | | Accounts receivable financing | 156,776,007.43 | | **Total** | **580,785,886.73** | [Related Parties and Related Party Transactions](index=162&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E5%85%B3%E8%8

常州亚玛顿股份有限公司 2021 年第一季度报告全文 常州亚玛顿股份有限公司 CHANGZHOU ALMADEN CO.,LTD. 2021 年第一季度报告 股票简称：亚玛顿 股票代码：002623 披露日期：二〇二一年四月十五日 1 常州亚玛顿股份有限公司 2021 年第一季度报告全文 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。 公司负责人林金锡、主管会计工作负责人刘芹及会计机构负责人(会计主管 人员)刘芹声明：保证季度报告中财务报表的真实、准确、完整。 2 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 | 上年同期 | 本报告期比上年同期 | | --- | --- | --- | --- | | | | | 增减 | | 营业收入（元） | 576,642,089.58 | 293,185,522.48 | 96.68% | | 归属于上市公司股东的净利 ...

Financial Performance - The company reported a significant increase in revenue, with total sales reaching 1.2 billion RMB, representing a year-on-year growth of 15%[13]. - The company's operating revenue for 2020 was ¥1,802,858,274.43, representing a 52.22% increase compared to ¥1,184,367,791.28 in 2019[17]. - The net profit attributable to shareholders for 2020 was ¥137,748,160.84, a significant turnaround from a loss of ¥97,053,678.13 in 2019, marking a 241.93% increase[17]. - The basic and diluted earnings per share for 2020 were both ¥0.86, compared to a loss of ¥0.61 per share in 2019, reflecting a 240.98% improvement[18]. - The net cash flow from operating activities for 2020 was ¥241,506,672.39, up 27.47% from ¥189,457,069.52 in 2019[18]. - The company's total assets increased to 3 billion RMB, reflecting a 10% growth compared to the previous year[13]. - The company's total assets at the end of 2020 were ¥4,053,842,031.16, an increase of 9.28% from ¥3,709,607,666.83 at the end of 2019[18]. - The net assets attributable to shareholders at the end of 2020 were ¥2,345,498,282.84, an increase of 11.84% from ¥2,097,264,491.65 at the end of 2019[18]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion CNY for the year, representing a growth of 20% year-over-year[120]. - The company reported a net profit of 137,748,160.84 yuan for 2020, with a profit distribution plan indicating no cash dividends or stock bonuses[130]. Market Expansion and Product Development - The user base for the company's solar products expanded by 20%, with over 500,000 new customers acquired during the year[13]. - The company plans to launch a new line of ultra-thin photovoltaic glass products, targeting a market share increase of 10% in the next fiscal year[16]. - Future guidance indicates an expected revenue growth of 12% for the upcoming year, driven by increased demand for solar energy solutions[16]. - Market expansion efforts include entering Southeast Asian markets, with a projected revenue contribution of 100 million RMB by 2022[16]. - The company is developing a new lightweight (1.6mm) ultra-thin photovoltaic glass product, which has been sent to core customers for sampling[55]. - The company aims to enhance its market share in ultra-thin photovoltaic glass, leveraging its technological advantages in anti-reflective coatings and physical tempering[53]. - The company plans to achieve a sales volume of 100 million square meters of photovoltaic glass in 2021, primarily focusing on ultra-thin photovoltaic glass with a thickness of ≤2.0mm[110]. - The company is focusing on the development of large-size, high-power ultra-thin photovoltaic glass to meet customer demands and strengthen its competitive advantage[109]. - The company is expanding its market presence, targeting new regions with a planned investment of 200 million CNY in marketing and distribution[120]. - New product launches are expected to contribute an additional 300 million CNY in revenue, with a focus on innovative technologies[120]. Research and Development - The company has invested 200 million RMB in R&D for new technologies, focusing on enhancing the efficiency of photovoltaic glass[16]. - The company focuses on R&D and innovation in new materials and technologies, with a diversified business model including solar glass and photovoltaic power station projects[28]. - Research and development expenses increased by 47.14% to ¥51,683,084.47, with the number of R&D personnel rising by 47.95% to 108[82]. - Research and development expenditures have increased by 30%, focusing on innovative technologies and product enhancements[122]. - The company has 114 valid patents, including 34 authorized invention patents, demonstrating strong technological capabilities[42]. Operational Efficiency - The company has implemented new strategies to improve operational efficiency, aiming for a 5% reduction in production costs[16]. - The company aims to improve production efficiency, targeting a 5% reduction in costs through operational enhancements[120]. - The company is implementing refined management to control production costs and enhance its ability to absorb raw material price fluctuations[116]. Strategic Acquisitions and Investments - The company is exploring potential mergers and acquisitions to enhance its product offerings and market presence[16]. - A strategic acquisition was completed, enhancing the company's capabilities in the electronic glass sector, valued at 500 million CNY[120]. - The company plans to issue up to 48 million new shares to raise no more than CNY 100 million for various projects, including the intelligent deep processing of ultra-thin photovoltaic glass[56]. - The company sold four solar power station projects totaling 67 MW to focus on light asset operations, leaving five self-owned projects with a total installed capacity of approximately 90.59 MW[58][59]. Financial Management and Governance - The company has no plans to distribute cash dividends or issue bonus shares for the current fiscal year[5]. - The company has not distributed any cash dividends in the past three years, maintaining a 0.00% payout ratio for 2018, 2019, and 2020[130]. - The company plans to reinvest its undistributed profits into operational cash flow needs and ongoing projects to ensure sustainable development[131]. - The company emphasizes a commitment to cash dividends in the future, adhering to legal regulations and its profit distribution system[131]. - The company has established a comprehensive corporate governance structure to protect shareholder and investor rights, ensuring transparency and compliance with regulations[176]. - The company has implemented measures to ensure compliance with relevant laws and regulations regarding corporate governance and shareholder rights[137]. Risks and Challenges - The company faces risks related to policy changes in the photovoltaic industry, which could significantly impact market demand and operational performance[114]. - The ongoing COVID-19 pandemic poses risks to the company's operations, with potential impacts on raw material procurement and overall business performance[118]. - The company is aware of foreign exchange risks as sales to overseas customers are primarily settled in foreign currencies, and it is enhancing its risk management mechanisms[118]. - The company is closely monitoring accounts receivable due to longer payment terms in the photovoltaic industry, which could affect cash flow and financial stability[117]. Customer and Market Insights - The company’s solar glass sales reached CNY 1,510.00 million, accounting for 83.76% of total revenue, with a significant increase of 99.37% year-on-year[63]. - The company’s overseas revenue surged by 243.55% to CNY 732.93 million, making up 40.65% of total revenue[64]. - The company’s electronic glass and display products accounted for 1.62% of total revenue, with a year-on-year growth of 29.27%[63]. - The company signed a long-term sales contract with Longi Group for 60.28 million square meters of photovoltaic coated glass, achieving sales revenue of CNY 553 million from 22.62 million square meters sold by the reporting period[70]. - Customer satisfaction ratings improved, with a reported increase of 12% in positive feedback from users[120]. Corporate Social Responsibility - The company is committed to environmental protection and has achieved ISO14001 certification, focusing on sustainable production practices[178]. - The company actively engages in social responsibility, including tax compliance and support for employment[175].

常州亚玛顿股份有限公司 2020 年第三季度报告全文 常州亚玛顿股份有限公司 CHANGZHOU ALMADEN CO.,LTD. 2020 年第三季度报告 股票简称：亚玛顿 股票代码：002623 披露日期：二〇二〇年十月二十三日 1 常州亚玛顿股份有限公司 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。 公司负责人林金锡、主管会计工作负责人刘芹及会计机构负责人(会计主管 人员)刘芹声明：保证季度报告中财务报表的真实、准确、完整。 2 常州亚玛顿股份有限公司 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） | 3,944,862,283.26 | ...

常州亚玛顿股份有限公司 2020 年半年度报告全文 常州亚玛顿股份有限公司 CHANGZHOU ALMADEN CO.,LTD. 2020 年半年度报告 股票简称：亚玛顿 股票代码：002623 披露日期：二〇二〇年八月二十二日 1 常州亚玛顿股份有限公司 2020 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的 真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和 连带的法律责任。 公司负责人林金锡、主管会计工作负责人刘芹及会计机构负责人(会计主管 人员)刘芹声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 本报告中涉及的未来发展计划等前瞻性陈述，不构成公司对投资者的实质 承诺，请投资者注意投资风险。 公司风险因素详见本报告"第四节 经营情况讨论与分析"之"十、公司面 临的风险与应对措施"，敬请广大投资者认真阅读，注意投资风险。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | 第一节 重要提示、目录和释义 2 | | --- | | 第二节 公司简介和主要财务指标 ...