Financial Performance - The company's revenue for Q1 2023 was ¥103,920,240.20, a decrease of 10.07% compared to ¥115,553,353.30 in the same period last year[5] - The net loss attributable to shareholders was ¥6,110,167.07, which improved by 10.21% from a loss of ¥6,804,698.93 in the previous year[5] - The net profit for Q1 2023 was -6,110,167.07 CNY, compared to -6,804,768.00 CNY in Q1 2022, indicating a slight improvement in losses[20] - Operating profit for Q1 2023 was -5,981,963.42 CNY, worsening from -3,904,088.92 CNY in the same period last year[20] - The company reported a total comprehensive loss of -6,110,167.07 CNY for Q1 2023, compared to -6,804,768.00 CNY in Q1 2022[21] Cash Flow - The net cash flow from operating activities decreased by 86.43%, down to ¥3,253,326.68 from ¥23,967,266.34 in the same period last year[5] - The net cash flow from operating activities for Q1 2023 was 3,253,326.68 CNY, significantly lower than 23,967,266.34 CNY in Q1 2022[23] - The company reported a 143% decrease in net cash flow from financing activities, primarily due to the repayment of bank loans[8] - Cash and cash equivalents decreased by 59% compared to the beginning of the period, attributed to reduced cash inflow from operating activities and loan repayments[10] - The total cash flow from investing activities was 10,044,625.00 CNY in Q1 2023, compared to -5,971,625.00 CNY in Q1 2022, indicating a positive shift[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥556,602,653.81, reflecting a decrease of 7.11% from ¥599,180,301.48 at the end of the previous year[5] - The total current liabilities as of March 31, 2023, were CNY 333,157,145.35, a decrease from CNY 369,560,588.37 at the beginning of the year[17] - The total assets as of March 31, 2023, were CNY 556,602,653.81, down from CNY 599,180,301.48 at the beginning of the year[17] - The company reported a net loss of CNY 334,233,426.21 in retained earnings as of March 31, 2023, compared to a loss of CNY 328,123,259.14 at the beginning of the year[17] Earnings Per Share - The company's basic and diluted earnings per share were both -¥0.0119, an improvement of 10.53% compared to -¥0.0133 in the same period last year[5] - The basic and diluted earnings per share for Q1 2023 were both -0.0119 CNY, slightly better than -0.0133 CNY in Q1 2022[21] Operational Costs - The total operating costs for the first quarter of 2023 were CNY 109,186,232.97, down 8.7% from CNY 119,529,948.81 in the previous year[19] - Research and development expenses for Q1 2023 were 167,753.26 CNY, reflecting the company's ongoing commitment to innovation[20] - The company incurred financial expenses of 4,505,155.03 CNY in Q1 2023, compared to 5,041,867.12 CNY in Q1 2022, showing a reduction of approximately 10.6%[20] Investment Activities - The company experienced a 268% increase in net cash flow from investing activities, primarily due to the sale of trading financial assets[10] - The company completed the transfer of its 51% stake in Russian United to Zhongmin Home for CNY 10,100,000.00 on March 7, 2023[13] - The company received CNY 10,100,000.00 from the first phase of debt repayment agreement with Hu Weilin and Defeng International[12] - The company has not been able to find potential buyers for its 51% stake in Russian United New Materials Co., Ltd. since announcing the sale in April 2022[13] Future Plans - The company plans to continue exploring options for market expansion and new product development in the upcoming quarters[12]

Financial Performance - The company reported a significant increase in revenue for 2022, reaching RMB 1.5 billion, representing a year-on-year growth of 15%[1]. - The company's operating revenue for 2022 was ¥483,903,049.32, a decrease of 26.31% compared to ¥656,664,778.91 in 2021[20]. - The total revenue for the year 2022 was 729.702 million, a significant increase from 547.276 million in 2021, representing a growth of approximately 33.2%[90]. - The net profit attributable to shareholders was -¥36,213,154.93, an improvement of 35.31% from -¥55,980,852.72 in the previous year[20]. - The company reported a net profit of 182.426 million for 2022, compared to 0 in 2021, indicating a substantial turnaround[90]. - The net cash flow from operating activities was ¥21,327,132.32, a significant increase of 110.95% compared to -¥194,832,749.53 in 2021[20]. - The net cash flow from operating activities improved significantly, reaching ¥21,327,132.32 compared to a net outflow of ¥194,832,749.53 in the previous year, marking a 110.95% increase[58]. - The company reported a total financial asset value of 186,962,643.20 yuan at the end of the reporting period, with a significant increase in receivables from 25,324,115.03 yuan to 40,896,190.54 yuan[62]. Market Expansion and Strategy - The company has set a revenue target of RMB 1.8 billion for 2023, indicating a growth forecast of 20%[1]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2025[1]. - The company plans to expand its market presence by entering three new regions in 2023, aiming for a 15% increase in market share[90]. - A strategic acquisition of a local competitor is in progress, which is anticipated to enhance production capacity by 25%[1]. - A strategic acquisition of a local competitor is expected to be finalized in Q2 2023, which will enhance production capabilities[101]. - The company is exploring potential mergers and acquisitions to enhance its product portfolio and market reach, with a focus on complementary technologies[90]. Research and Development - The company is committed to enhancing its R&D capabilities, with an investment of RMB 100 million planned for the next fiscal year[1]. - New product development includes the launch of three innovative materials, expected to contribute an additional RMB 300 million in revenue[1]. - New product development initiatives are underway, with an investment of 50 million allocated for R&D in advanced materials technology[90]. - Investment in R&D increased by 30%, focusing on innovative materials and technologies to enhance product offerings[99]. Operational Efficiency and Cost Management - The company has implemented various cost reduction and efficiency enhancement measures, including strengthening accounts receivable management and inventory control[35]. - The company aims to reduce operational costs by 15% through efficiency improvements in the supply chain[100]. - The company will enhance management efficiency and cost control, focusing on optimizing the cost accounting and analysis system[73]. - The company has maintained a stable production environment by improving equipment management and quality control processes, which has effectively reduced customer complaint rates[35]. Compliance and Governance - The company has faced an investigation by the China Securities Regulatory Commission for alleged information disclosure violations, with no conclusive results yet[77]. - The company is committed to enhancing corporate governance and business development through the expertise of its independent directors[113]. - The company aims to improve its compliance and governance practices in response to regulatory feedback and past violations[103]. - The company strictly adheres to the information disclosure requirements set by the China Securities Regulatory Commission and the Shenzhen Stock Exchange, ensuring transparency and protecting the rights of minority investors[84]. Environmental and Safety Compliance - Environmental and safety compliance measures are being strengthened to mitigate regulatory risks[4]. - The company is committed to safety production and environmental protection, aiming to build a low-carbon green industrial park[72]. - The company has maintained compliance with environmental regulations, with all wastewater and air emissions meeting the required standards[130]. - The company has implemented a comprehensive environmental monitoring plan, ensuring compliance with pollution discharge standards through third-party assessments[132]. Shareholder and Stakeholder Relations - The company respects and protects the legitimate rights and interests of stakeholders, ensuring a balance of interests among society, shareholders, the company, and employees[84]. - The company emphasizes the protection of shareholder and creditor rights, ensuring fair participation in major decisions through online voting and separate counting for minority shareholders[136]. - The company has a repayment plan in place, with monthly payments of 500,000 RMB until the debt is cleared[142]. Challenges and Risks - The management highlighted potential risks including raw material price fluctuations and increased labor costs, which could impact future profitability[4]. - The company is facing challenges from the upstream steel industry, which is experiencing high costs and reduced demand[28]. - The company has been actively resolving historical financial risks, recovering 19,983.64 million yuan of funds occupied by shareholder Hu Weilin, with a remaining balance of 5,673.33 million yuan by the end of 2022[37].

Financial Performance - The company's revenue for Q3 2022 was ¥136,851,162, a decrease of 17.44% compared to ¥165,761,000 in the same period last year[5]. - The net profit attributable to shareholders was ¥6,766,115, reflecting a significant increase of 1,255.00% from ¥499,344.60 in the previous year[5]. - Total operating revenue for the period was CNY 366,583,829.85, a decrease of 25.5% compared to CNY 491,725,445.78 in the previous period[19]. - The net profit for the period was a loss of CNY 23,418,394.68, compared to a profit of CNY 1,216,041.11 in the previous period, indicating a significant decline[22]. - The total comprehensive income for the period was a loss of CNY 23,418,394.68, compared to a gain of CNY 1,216,041.11 in the previous period[22]. - Earnings per share (EPS) for the period was -0.0457, compared to 0.0024 in the previous period, reflecting a substantial decrease[22]. Cash Flow - The net cash flow from operating activities was ¥47,329,010, representing a 130.02% increase compared to ¥20,566,000 in the same period last year[5]. - The company reported a net cash flow from operating activities of CNY 47,329,017.34, a turnaround from a negative cash flow of CNY -157,654,188.74 in the previous period[23]. - The net cash flow from investment activities was -2,522,896.71 CNY, compared to 1,034,824.12 CNY in the previous year[24]. - The total cash inflow from financing activities was 764,406,064.73 CNY, while cash outflow was 808,489,874.90 CNY, resulting in a net cash flow of -44,083,810.17 CNY[24]. - The cash and cash equivalents at the end of the period amounted to 11,558,221.82 CNY, compared to 12,588,438.59 CNY in the previous year[24]. - The company incurred a cash outflow of 794,010,000.00 CNY for debt repayment during the quarter[24]. - The cash flow from financing activities in the previous year was significantly higher, with inflows of 405,539,865.78 CNY[24]. Assets and Liabilities - The total assets at the end of the reporting period were ¥699,734,324.02, a decrease of 6.55% from ¥748,811,658.72 at the end of the previous year[5]. - The company's total assets as of September 30, 2022, amount to CNY 699,734,324.02, a decrease from CNY 748,811,658.72 at the beginning of the year[17]. - The company's total liabilities as of September 30, 2022, are CNY 443,823,169.31, down from CNY 469,482,109.33 at the beginning of the year[17]. - Current assets decreased to CNY 386,864,815.06 from CNY 560,497,029.72 at the beginning of the year[16]. - Short-term borrowings decreased to CNY 339,454,015.54 from CNY 427,174,049.47 at the beginning of the year[17]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 23,956[11]. - The largest shareholder, Nanning Yiran Elderly Industry Partnership, holds 30.00% of shares, totaling 153,600,000 shares, which are fully pledged[11]. - The company’s equity attributable to shareholders was CNY 241,297,545.22, down from CNY 264,715,829.78, indicating a decrease in shareholder value[21]. Expenses and Investments - Research and development expenses increased due to new projects initiated by subsidiaries[10]. - The company reported a 36% decrease in sales expenses, attributed to lower marketing and export miscellaneous costs[10]. - Long-term equity investments increased by 512% due to asset swaps involving the acquisition of the Jianchuang Fund's assets[10]. - The company experienced a 63% decrease in investment income, primarily due to increased losses from equity-method accounted associates[10]. - The company recorded a financial expense of CNY 11,950,266.37, which included interest expenses of CNY 17,669,840.10, up from CNY 13,981,082.62 in the previous period[19]. - Research and development expenses were CNY 804,029.38, with no previous period data available for comparison[19]. Government Subsidies and Related Transactions - The company received government subsidies amounting to ¥32,800 in the current period, totaling ¥220,228.59 year-to-date[8]. - The company has not disclosed any related party transactions or financing activities involving the top ten shareholders[11]. Other Information - The company did not undergo an audit for the third quarter report[25]. - Balote's shareholding was diluted from 51.22% to 47.20% after the company opted not to participate in a capital increase, resulting in it no longer being a consolidated subsidiary[13]. - The company has provided operational loans to its former subsidiary Balote, with a cumulative loan balance of CNY 27.4 million as of December 2019[13].

Financial Performance - The company's operating revenue for the first half of 2022 was approximately ¥229.73 million, a decrease of 29.52% compared to ¥605.43 million in the same period last year[22]. - The net profit attributable to shareholders was a loss of approximately ¥16.65 million, a significant decline of 1,070.74% compared to a profit of ¥4.09 million in the previous year[22]. - The basic earnings per share were -¥0.0325, a decrease of 1,084.85% from ¥0.0080 in the same period last year[22]. - The company's gross profit margin declined, leading to a net profit attributable to shareholders of -¥16,652,169.04, a decrease of 1,070.74% year-on-year[32]. - The company reported a net loss of -17,292,739.16 yuan for the first half of 2022, compared to a net profit of 1,653,902.13 yuan in the same period of 2021, indicating a significant decline in profitability[152]. - The total comprehensive income for the first half of 2022 was CNY 15,402.55 million, an increase from CNY 15,355.69 million in the same period last year, representing a growth of approximately 0.31%[164]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 108.68% to approximately ¥11.68 million, compared to ¥1.77 million in the same period last year[22]. - The company generated a net cash flow from operating activities of 11,676,595.81 yuan, a turnaround from a negative cash flow of -134,520,411.63 yuan in the same period last year[154]. - Cash and cash equivalents decreased to 4,013,832.71, representing 0.57% of total assets, down from 44,325,518.08 (5.92%), a decrease of 5.35% due to the maturity of bank acceptance bills and a reduction in deposit guarantees[52]. - The company reported a significant impact on liquidity due to a large amount of non-operating fund occupation[107]. - The company's cash flow from financing activities showed an inflow of 541,563,284.97 CNY, up from 326,110,127.83 CNY in the previous period[158]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥701.87 million, down 6.27% from ¥748.81 million at the end of the previous year[22]. - The company's total liabilities decreased from RMB 469,482,109.33 on January 1, 2022, to RMB 439,188,591.73 as of June 30, 2022, representing a reduction of about 6.4%[141]. - The company's total equity as of June 30, 2022, was RMB 262,677,277.95, down from RMB 279,329,549.39 at the beginning of the year, indicating a decrease of approximately 5.9%[141]. - The long-term equity investments surged to 174,686,134, representing 24.89% of total assets, up from 26,085,552 (3.48%), an increase of 21.41% primarily due to asset swaps[52]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares for this reporting period[5]. - As of the announcement date, the controlling shareholder, Nanning Yiran, holds 153,600,000 shares, representing 30% of the total shares; if the judicial auction is completed, this will reduce to 99,900,000 shares, or 19.51%[64]. - A total of 81,239,573 shares held by the controlling shareholder have been frozen, accounting for 52.89% of their holdings and 15.87% of the company's total shares[62]. - The company has not implemented any stock incentive plans or employee shareholding plans during the reporting period[72]. Environmental Compliance - The company reported a total wastewater discharge of 3931.2 tons for COD, which is below the standard limit of 300 mg/l[74]. - The ammonia nitrogen discharge was recorded at 20.12 mg/l, also below the standard limit of 25 mg/l[74]. - The company has a total of 2 VOCs emission points, with a recorded emission of 80.6 mg/m³, exceeding the standard limit of 50 mg/m³[75]. - The company has implemented an emergency response plan for environmental incidents, which was revised in August 2020 and is currently valid[77]. Risk Factors and Challenges - The company faces various risk factors as detailed in the management discussion and analysis section, which investors are encouraged to review[4]. - The ongoing COVID-19 pandemic has adversely affected the company's operations and those of its major customers and suppliers, with the end of the pandemic remaining uncertain[66]. - The company is facing uncertainties regarding the repayment of funds occupied by shareholder Hu Weilin, influenced by global events such as the COVID-19 pandemic and the Russia-Ukraine conflict[65]. Strategic Initiatives - The company aims to enhance product diversification and expand application fields in response to increasing user demands in various industries[30]. - The company is actively seeking new growth points in industries supported by national policies while maintaining stable operations in its existing new materials business[38]. - The company is exploring potential mergers and acquisitions to accelerate growth and enhance its competitive position in the market[165]. Governance and Compliance - The company has established a compliance management system to enhance governance and risk control capabilities, ensuring sustainable and healthy development[40]. - The company has implemented strict fund approval procedures and enhanced centralized fund management to mitigate financial risks[97]. - The company has taken measures to improve transparency and compliance in its financial operations following regulatory feedback[97].

Financial Performance - The company's revenue for Q1 2022 was ¥115,553,353.30, a decrease of 55.75% compared to ¥261,140,019.56 in the same period last year[3] - The net profit attributable to shareholders was a loss of ¥6,804,698.93, representing a decline of 310.30% from a profit of ¥3,235,669.34 in the previous year[3] - Total operating revenue for Q1 2022 was CNY 115,553,353.30, a decrease of 55.8% compared to CNY 261,140,019.56 in the same period last year[16] - The net loss for Q1 2022 was CNY 6,804,768.00, compared to a net profit of CNY 3,235,669.34 in Q1 2021[17] - The total comprehensive income attributable to the parent company was -6,804,698.93 CNY, compared to 3,235,669.34 CNY in the previous period[18] Cash Flow - The net cash flow from operating activities decreased by 71.18%, from ¥83,158,670.36 to ¥23,967,266.34[3] - Cash inflow from operating activities totaled 168,601,736.05 CNY, down 46.7% from 316,380,442.17 CNY in the previous period[20] - Cash outflow from operating activities was 144,634,469.71 CNY, a decrease of 38.0% from 233,221,771.81 CNY in the previous period[21] - Cash flow from investing activities was -5,971,625.00 CNY, an improvement from -10,431,545.45 CNY in the previous period[21] - Cash flow from financing activities was -15,965,387.99 CNY, compared to a positive cash flow of 8,103,723.72 CNY in the previous period[22] - The ending balance of cash and cash equivalents was 12,755,152.08 CNY, down from 150,083,348.28 CNY in the previous period[22] - The company received 324,363,284.97 CNY in cash from borrowings, significantly up from 69,990,000.00 CNY in the previous period[21] - The company paid 336,180,000.00 CNY in cash to repay debts, an increase from 58,350,000.00 CNY in the previous period[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥700,218,151.10, down 6.49% from ¥748,811,658.72 at the end of the previous year[3] - Current liabilities totaled CNY 427,221,831.17, down from CNY 469,010,570.79, indicating a reduction of 8.9%[13] - The company's total equity decreased to CNY 272,524,781.39 from CNY 279,329,549.39, a decline of 2.8%[14] - The company's total assets decreased to CNY 700,218,151.10 from CNY 748,811,658.72, a decline of 6.5%[14] Expenses - The net cash flow from operating activities was 23,967,266.34 CNY, a decrease of 71.2% from 83,158,670.36 CNY in the previous period[21] - The financial expenses for Q1 2022 were CNY 5,041,867.12, compared to CNY 4,545,665.50 in the previous year, an increase of 11%[16] - The company experienced a 16737% increase in non-operating expenses, mainly due to penalties related to a stock transaction[8] Inventory and Contract Liabilities - Inventory increased to CNY 50,482,899.81 from CNY 45,396,732.73, reflecting an increase of 6.1%[12] - The company reported a significant increase in contract liabilities to CNY 5,097,039.10 from CNY 1,120,834.62, an increase of 354.5%[13] - The company reported a 355% increase in contract liabilities, primarily due to an increase in customer prepayments[8] Earnings Per Share - The company's basic and diluted earnings per share were both -¥0.0133, a decrease of 311.11% from ¥0.0063 in the same period last year[3] - Basic and diluted earnings per share were both -0.0133 CNY, down from 0.0063 CNY in the previous period[18] Other Information - The weighted average return on equity was -2.60%, a decline of 3.60% compared to 1.00% in the previous year[3] - The company did not report any new product developments or market expansion strategies during the quarter[6] - The company's long-term equity investments remained stable at CNY 26,085,552.06, unchanged from the previous period[12]

Financial Performance - The company's operating revenue for 2021 was ¥656,664,778.91, representing a decrease of 48.21% compared to ¥1,267,985,888.15 in 2020[21]. - The net profit attributable to shareholders was -55,980,852.72 CNY, a 53.67% improvement compared to -120,824,594.19 CNY in the previous year[22]. - Operating revenue for 2021 was 656,664,778.91 CNY, down 48.3% from 1,267,985,888.15 CNY in 2020[23]. - The net cash flow from operating activities was -194,832,749.53 CNY, a decline of 469.81% compared to 52,683,861.66 CNY in the previous year[22]. - The basic and diluted earnings per share were both -0.110 CNY, a 54.17% improvement from -0.240 CNY in 2020[22]. - Total assets decreased by 26.99% to 748,811,658.72 CNY from 1,025,580,376.36 CNY in 2020[22]. - The net assets attributable to shareholders decreased by 17.46% to 264,715,829.78 CNY from 320,696,682.50 CNY in 2020[22]. - The company reported a significant increase in non-operating income from financial assets, amounting to 1,078,069.99 CNY in 2021[30]. - The company achieved operating revenue of 657 million yuan in 2021, a decrease of 48.21% compared to the previous year, primarily due to the exclusion of revenues from subsidiaries Xin Yongfeng and Balote in the current reporting period[44]. - The revenue from organic coated boards was RMB 612,252,468.16, representing 93.24% of total revenue, with a year-on-year increase of 21.57%[53]. - The company’s operating costs for the metal products sector were RMB 613,566,290.92, resulting in a gross margin of 6.56%, down from the previous year[56]. Corporate Governance - The company has not changed its main business since its listing[20]. - The company’s largest shareholder, Nanning Yiran, holds 153,600,000 shares, accounting for 29.9963% of the total share capital[20]. - The company has engaged Chongqing Kanghua Accounting Firm for auditing services[21]. - The company’s financial report has been audited with a reserved opinion by the accounting firm[6]. - The company maintains independent operational capabilities, with complete independence in business, personnel, assets, institutions, and finance from the controlling shareholder[88]. - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements[88]. - The company has established a performance evaluation and incentive mechanism, successfully implementing the "Compensation Performance Management Measures"[89]. - The company respects and protects the legitimate rights and interests of stakeholders, promoting balanced interests among society, shareholders, employees, and the company[89]. - The company adheres to strict information disclosure obligations, ensuring accurate, complete, and timely information is provided to investors, enhancing transparency[89]. - The company has a structured supervisory board consisting of 3 supervisors, ensuring effective oversight of directors and senior management[88]. - The company has not encountered significant discrepancies between its governance practices and the regulations set forth by the China Securities Regulatory Commission[90]. - The company has a clear governance structure with established committees, including a strategic committee and an audit committee, to enhance decision-making processes[88]. Risk Management - The company may face risks in 2022, including fluctuations in raw material prices, market demand risks, and impacts from the COVID-19 pandemic[6]. - The company faces risks from raw material price fluctuations, particularly in the steel industry, and has established long-term relationships with suppliers to mitigate these risks[81]. - The company is also exposed to market demand risks linked to the construction, transportation, and home appliance sectors, and plans to enhance product variety and communication with clients[82]. - The company is monitoring the impact of the ongoing COVID-19 pandemic, which is expected to adversely affect production and operations[84]. Strategic Initiatives - The company completed the trial production of environmentally friendly PVDF and further developed GMP-specific color-coated boards for the pharmaceutical industry during the reporting period[43]. - The company obtained 10 patent certificates during the reporting period, with a total of 23 invention patents and 13 utility model patents as of December 31, 2021[40]. - The company is committed to environmental protection, completing the installation of online monitoring equipment for wastewater treatment and standardizing hazardous waste storage facilities[43]. - The company is actively promoting the sale of its 51% stake in Russian United, with the asset sale expected to constitute a major asset restructuring, despite challenges posed by the COVID-19 pandemic and the Russia-Ukraine war[48]. - The company completed the acquisition of Binan Co., holding 51% of its shares, marking a significant strategic move into the urban services sector[51]. - The company plans to ensure stable operations in the new materials business and aims to achieve breakthroughs in more related segments to strengthen its industry position[79]. - The company will actively seek new profit growth points in industries supported by national policies, moving away from urban services as a main business direction[80]. - The company is focusing on expanding its market presence and enhancing its product offerings through new technology development[96]. - The company is actively seeking opportunities for mergers and acquisitions to strengthen its market position[96]. Human Resources - The company has established a talent strategy combining internal development and external recruitment to enhance its human resources and management capabilities[39]. - The company reported a total of 202 employees at the end of the reporting period, with 38 in the parent company and 164 in major subsidiaries[122]. - The employee composition includes 99 production personnel, 26 sales personnel, 19 technical personnel, 9 financial personnel, and 49 administrative personnel[122]. - The company maintains a competitive salary policy to attract and retain talent, ensuring key positions are aligned with market salary levels[124]. - The training program includes onboarding for new employees and ongoing training for production and operational staff, achieving 100% coverage of key regulations and safety protocols[125]. - The company plans to increase its workforce by 15% in 2022 to support growth initiatives and enhance operational efficiency[103]. Environmental Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities, with specific pollutants monitored[138]. - The company reported a total discharge of COD at 748.32 tons, with no exceedance of discharge standards[138]. - The ammonia nitrogen discharge was recorded at 27.63 tons, slightly above the standard of 25 mg/l, but no exceedance was reported[138]. - The company’s wastewater treatment system ensures that all indicators meet municipal sewage treatment plant standards before discharge[141]. - The company has an effective pollution discharge permit valid from April 29, 2020, to April 28, 2023[142]. - The company has implemented a VOC organic waste gas online monitoring device to ensure compliance with emission standards[141]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[145]. Shareholder Relations - The company plans not to distribute cash dividends, issue bonus shares, or increase capital from reserves[7]. - The company has not proposed any cash dividend distribution during the reporting period, despite having positive distributable profits[128]. - There were no adjustments or changes to the cash dividend policy during the reporting period, ensuring stability for shareholders[128]. - The company emphasizes the protection of shareholder and creditor rights, ensuring transparency and participation in major decisions[147]. Audit and Compliance - The company received a public reprimand from the Shenzhen Stock Exchange on September 28, 2021, for significant discrepancies between the 2020 annual performance forecast and the actual net profit reported[105]. - The company faced disciplinary actions in 2020 for failing to timely correct significant discrepancies in the 2019 annual performance forecast[106]. - The company received a qualified audit opinion from Chongqing Kanghua Accounting Firm for the 2021 financial statements, indicating potential risks that the board will address to protect shareholder interests[159]. - The company emphasizes the importance of investor caution regarding the risks highlighted in the audit report[160]. - The company has not made any changes to the scope of consolidation compared to the previous year's financial report, except for the establishment and deregistration of subsidiaries[166]. - The company has changed its accounting firm for the 2021 financial audit to Chongqing Kanghua Accounting Firm due to the previous firm's saturation of audit business[168].

苏州扬子江新型材料股份有限公司 2021 年第三季度报告 证券代码：002652 证券简称：扬子新材 公告编号：2021-10-11 苏州扬子江新型材料股份有限公司 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 追溯调整或重述原因 其他原因 | | | | | 本报告 期比上 | 年初至 | | | 年初至 报告期 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 本报告 | 上年同期 | | 年同期 | 报告期 | 上年同期 | | ...

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 605,425,510.80, a decrease of 43.55% compared to CNY 1,072,316,378.37 in the same period last year[20]. - The net profit attributable to shareholders was CNY 4,091,156.11, a significant turnaround from a loss of CNY 13,722,533.49 in the previous year, representing a 102.80% increase[20]. - The net cash flow from operating activities was CNY 1,768,438.50, up 113.56% from CNY 653,680.78 in the same period last year[20]. - The company's basic earnings per share improved to CNY 0.0080 from a loss of CNY 0.0268 in the same period last year, marking a 102.81% increase[20]. - The total operating revenue for the reporting period was CNY 605,425,510.80, representing a year-on-year increase of 1.89% compared to CNY 594,172,607.26 in the same period last year[53]. - The net profit for the first half of 2021 was CNY 6,653,461.40, a significant recovery from a net loss of CNY 145,902,250.33 in the first half of 2020[153]. - The total profit for the first half of 2021 was CNY 7,960,678.26, recovering from a total loss of CNY 147,071,483.92 in the first half of 2020[153]. - The company reported a significant increase in contract liabilities, which rose to CNY 46,344,746.24, up 2.17% from CNY 8,358,999.76 last year, due to prepayments for new material export business[58]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 1,551,732,673.59, reflecting a 51.30% increase from CNY 1,025,580,376.36 at the end of the previous year[20]. - The total liabilities at the end of the reporting period were 1,406 million, which is a slight increase of 1.5% from the previous period[172]. - The equity attributable to shareholders increased to CNY 324,787,838.61 from CNY 320,696,682.50[146]. - The company's total liabilities reached CNY 1,147,523,175.78, up from CNY 704,883,693.86[145]. - The total number of ordinary shareholders at the end of the reporting period was 19,203, with no preferred shareholders having voting rights[129]. Strategic Initiatives - The company plans to focus on the research and development of organic coating boards, which are used in various industries including construction and home appliances[28]. - The company has established a dual-driven development model of "new materials + urban services" to enhance its strategic transformation[42]. - The company plans to continue investing in new product development and market expansion strategies to enhance future growth prospects[176]. - The company aims to enhance its operational efficiency through strategic mergers and acquisitions in the upcoming quarters[171]. - The company is committed to maintaining compliance with environmental regulations and has reported no instances of exceeding pollution discharge limits for several pollutants[85]. Market and Industry Insights - The urban services market is projected to exceed 2 trillion yuan by 2035, driven by policy incentives and market demand[31]. - The municipal sanitation service market is expected to reach 304.4 billion yuan, indicating significant growth potential[32]. - The current marketization rate of the municipal sanitation industry is only 40%, suggesting substantial room for expansion[32]. - Binan has undertaken over 300 urban service projects, covering more than 200 million square meters[29]. Risk Management - The company has identified potential risk factors and corresponding countermeasures in its management discussion and analysis section[5]. - The company faces risks related to raw material price fluctuations, particularly in the steel industry, and has implemented measures to mitigate these risks[71]. - Binan's market competition risk has increased due to the entry of various companies into the environmental management sector, prompting the need for enhanced competitive strategies[73]. Environmental Compliance - The company is classified as a key pollutant discharge unit, with specific emissions exceeding regulatory standards for COD (351.0 mg/l vs. ≤300 mg/l) and ammonia nitrogen (26.5 mg/l vs. ≤25 mg/l)[85]. - The company has implemented a real-time monitoring system for VOC emissions during production processes[87]. - The company emphasizes environmental responsibility, adhering to laws and regulations while enhancing safety and environmental protection measures[91]. Corporate Governance - The company emphasizes compliance and governance, enhancing internal controls and audit supervision to ensure sustainable development[40]. - The company has undergone a board restructuring, with new independent directors elected during the shareholder meetings[81]. - The company actively engages with investors through various communication channels to ensure transparency and protect shareholder rights[89]. Financial Reporting and Audit - The half-year financial report has not been audited, which may affect the company's financial disclosures[97]. - The financial statements are prepared based on the going concern assumption, indicating no significant factors affecting the company's ability to continue operations in the next 12 months[185]. - The company adheres to the accounting standards set by the Ministry of Finance and ensures that the financial statements reflect a true and complete picture of its financial status[187].

Financial Performance - The company's revenue for Q1 2021 was ¥261,140,019.56, a decrease of 36.42% compared to ¥410,757,759.55 in the same period last year[7] - Net profit attributable to shareholders was ¥3,235,669.34, representing a significant increase of 128.25% from a loss of ¥11,453,666.18 in the previous year[7] - The company’s basic earnings per share improved to ¥0.0063, compared to a loss of ¥0.0224 in the same period last year, reflecting a 128.13% increase[7] - The company achieved an operating profit of CNY 3,248,956.59 in Q1 2021, a turnaround from an operating loss of CNY 23,380,741.23 in the previous year[41] - The comprehensive income for Q1 2021 was CNY 3,235,669.34, compared to a comprehensive loss of CNY 113,456,048.99 in Q1 2020[42] - Total comprehensive income for the first quarter was CNY 3,454,644.74, a decrease of CNY 9,543,474.71 compared to the previous period[46] Cash Flow - The net cash flow from operating activities reached ¥83,158,670.36, a remarkable increase of 413.89% compared to a negative cash flow of ¥26,492,517.02 in Q1 2020[7] - Cash inflow from operating activities totaled CNY 316,380,442.17, down from CNY 532,149,920.19 in the previous period, representing a decrease of approximately 40.5%[49] - Cash and cash equivalents at the end of the period increased to CNY 150,083,348.28, up from CNY 71,666,437.19 at the end of the previous period[50] - The company reported a net cash flow from financing activities of CNY 8,103,723.72, compared to CNY 46,922,656.70 in the previous period[50] - The company recorded a cash inflow from investment activities of CNY 9,795,000.00, with a net cash outflow of CNY 10,431,545.45 from investment activities[53] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,117,086,852.98, reflecting an increase of 8.92% from ¥1,025,580,376.36 at the end of the previous year[7] - The total liabilities of the company were CNY 793,467,822.73, compared to CNY 704,883,693.86, marking an increase of approximately 12.56%[32] - The company's equity attributable to shareholders was CNY 323,619,030.25, slightly up from CNY 320,696,682.50, indicating a growth of about 0.99%[33] - The total current assets reached CNY 916,780,575.54, up from CNY 823,751,124.45, indicating an increase of about 11.31%[30] - Cash and cash equivalents increased to CNY 266,656,658.47 from CNY 185,745,076.39, reflecting a growth of approximately 43.49%[30] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 20,012, with the top ten shareholders holding a combined 80.73% of the shares[10] - The company did not engage in any repurchase transactions among the top ten shareholders during the reporting period[11] - The company did not report any non-operating fund occupation by controlling shareholders during the reporting period[25] - There were no overdue commitments from actual controllers, shareholders, or related parties during the reporting period[19] Strategic Activities - The company is planning a major asset restructuring involving the acquisition of 33.73% of Minsheng Technology from its actual controller, Hu Weilin, for cash[16] - The company is also involved in the acquisition of 51% of Binnan Co., indicating a strategy for market expansion[15] - The company has disclosed plans for the sale of equity in a Russian joint venture, reflecting its strategic divestment approach[15] - The company plans to acquire 51% of the shares of Binan Ecological Environment Group Co., Ltd. for a total amount not exceeding RMB 167.41 million[18] - The acquisition will be funded using the company's own funds, and the completion of the transaction is expected to enhance the company's market position[18] Operational Efficiency - The company reported a gross profit margin of approximately 0.1% for Q1 2021, compared to a negative margin in the previous year[41] - Research and development expenses decreased to CNY 802,685.13 in Q1 2021 from CNY 9,040,410.04 in Q1 2020, reflecting a reduction of 91.1%[40] - Total operating costs for Q1 2021 were CNY 260,875,482.48, down 39.8% from CNY 433,798,523.10 in Q1 2020[40] Compliance and Governance - The company has not engaged in any entrusted financial management during the reporting period[22] - There are no violations regarding external guarantees during the reporting period[24] - The company has not provided any warnings regarding significant changes in net profit for the first half of 2021 compared to the previous year[23] - The company has not undergone an audit for the first quarter report[55]

Financial Performance - The company's operating revenue for 2020 was ¥1,267,985,888.15, a decrease of 42.24% compared to ¥2,195,365,436.27 in 2019[17]. - The net profit attributable to shareholders was -¥120,824,594.19, an improvement of 61.96% from -¥317,617,025.45 in the previous year[17]. - The net cash flow from operating activities was ¥52,683,861.66, a significant increase of 203.01% compared to -¥51,144,880.83 in 2019[18]. - The basic earnings per share for 2020 was -¥0.24, improving by 61.29% from -¥0.62 in 2019[18]. - Total assets at the end of 2020 were ¥1,025,580,376.36, a decrease of 61.38% from ¥2,655,536,688.34 at the end of 2019[18]. - The net assets attributable to shareholders decreased by 28.03% to ¥320,696,682.50 from ¥445,618,010.37 in 2019[18]. - The company reported a significant reduction in non-recurring losses, with the net profit excluding non-recurring items at -¥6,598,056.76, a 97.92% improvement from -¥316,528,574.24 in 2019[18]. - The weighted average return on equity was -31.37%, an improvement of 41.64% from -53.75% in 2019[18]. Revenue Breakdown - In Q1 2020, the company's revenue was approximately CNY 217.09 million, while in Q2 it increased to CNY 377.08 million, and in Q3 it further rose to CNY 452.84 million, before dropping to CNY 220.98 million in Q4[22]. - The organic coated board revenue dropped by 61.25% to ¥503,627,246.77, while the substrate revenue decreased by 20.25% to ¥569,578,490.52[41]. - Domestic sales accounted for 98.66% of total revenue at ¥1,251,032,706.71, while overseas sales plummeted by 98.20% to ¥16,953,181.44[41]. Strategic Initiatives - The company has developed new products such as anti-VHP oxidation color-coated boards and anti-static color-coated boards, which are widely used in the pharmaceutical and semiconductor industries[32]. - The company has strategically shifted towards a dual business model of "new materials + urban services" to adapt to market changes and enhance growth prospects[31]. - The company is transitioning to a dual business model of "new materials + urban services" to enhance profitability and optimize strategic layout[38]. - The company has established a new subsidiary focused on urban waste management services, contributing to its urban services strategy[71]. Environmental Responsibility - The company emphasizes sustainable development and has made efforts to reduce carbon emissions through equipment upgrades and process improvements[33]. - The company is committed to environmental responsibility, completing upgrades such as online monitoring for wastewater treatment and standardizing hazardous waste storage[37]. - The company achieved a total phosphorus discharge of 1.02 tons, complying with the limit of 2 mg/l[125]. - The company has a VOCs emission of 93.02 mg/m3, which is within the permissible limit of 50 mg/m3[126]. - The company has implemented an environmental self-monitoring plan and conducts annual third-party assessments to ensure compliance[130]. Management and Governance - The company appointed Wang Gonghu as the new General Manager on May 19, 2020, following the resignation of Hu Weilin[158]. - The company has undergone a board and supervisory committee restructuring in January 2021, completing the election of the fifth board and supervisory committee[165]. - The management team emphasizes a strategic focus on operational efficiency and cost management to enhance overall performance[158]. - The company has established a strong governance framework with independent oversight from its board of directors and supervisory committee[167]. Shareholder and Equity Information - The company plans to reduce its shareholding by up to 5,120,640 shares, accounting for 1% of the total share capital, from December 7, 2020, to March 7, 2021[139]. - The largest shareholder, Nanning Yiran Elderly Care Partnership, holds 153,600,000 shares (30.00%)[138]. - The company has not conducted any repurchase transactions among its top shareholders during the reporting period[144]. - The company has no actual controller, as the ultimate controlling shareholder does not hold more than 10% of the shares[147]. Compliance and Regulatory Issues - The company received a qualified audit opinion from Xinyong Zhonghe Accounting Firm for its 2020 financial statements, indicating potential risks that the board is addressing to protect shareholder interests[92]. - The company faced disciplinary action from the Shenzhen Stock Exchange on September 23, 2020, due to significant discrepancies between the 2019 profit forecast and actual profit, resulting in a warning letter[167]. - The company has committed to improving compliance with securities laws and enhancing the quality of information disclosure to protect shareholder interests and ensure sustainable development[98]. Employee and Workforce Information - The total number of employees in the company is 218, with 58 in the parent company and 160 in major subsidiaries[171]. - The professional composition includes 108 production personnel, 25 sales personnel, 25 technical personnel, 7 financial personnel, 44 administrative personnel, and 9 management personnel[171]. - The company conducts comprehensive training for new employees, covering 100% of key regulations and safety procedures[173].