Group 1: Company Overview - Shanghai Kangda Chemical New Materials Co., Ltd. is involved in various sectors including wind power, photovoltaics, and composite packaging [1] - The company has maintained stable growth across its product categories, including epoxy adhesives, polyurethane adhesives, acrylic adhesives, and SBS adhesives [1] Group 2: Product Applications - The main products in the wind power sector include epoxy structural adhesives for wind turbine blades, silicone cutting adhesives, and solvent-free polyurethane laminating adhesives [1] - The company is one of the earliest developers of modified acrylic adhesives, primarily used in speakers, motors, and elevators [2] Group 3: Market Trends and Future Outlook - The wind power business has seen a significant recovery, driven by strong demand for blade manufacturing and sufficient order volumes for structural adhesives [2] - The company anticipates that the pricing for wind and solar energy will converge with market rates, and there may be potential cancellations of feed-in tariffs for these energy sources [2] Group 4: Military Products - The company has developed four proprietary military-grade adhesives prior to its public listing, which have been successfully applied and recognized for their high technical content and added value [2] - The company aims to become a specialized supplier of military adhesives, with all business activities ultimately reflected in its financial statements [2]

Group 1: Company Development Plans - The company is exploring new development areas including composite packaging, photovoltaic application materials, and military materials, with several small projects in cultivation [2] - The butyl materials are primarily used in photovoltaic components but can also be applied in emerging fields such as automotive and tires [2] Group 2: Product Information - The solvent-free polyurethane film adhesive is gradually replacing solvent-based types in the packaging industry, reflecting a trend towards environmentally friendly solutions [2] - The company is one of the earliest developers and sellers of solvent-free polyurethane film adhesives in China, focusing on deep training for existing customers using solvent-based adhesives to expand market share [2] Group 3: Specific Product Applications - Butyl materials exhibit extremely low moisture permeability, excellent sealing properties, and weather resistance, with applications in photovoltaic, wind power, and automotive sectors [3] - The company signed a sales contract for polyimide products worth 6.4616 million yuan on January 4, 2016, with expected related party transactions not exceeding 25.5 million yuan in 2016 [3] - Polyimide foam materials are primarily used in shipbuilding, with potential future applications in aerospace and civilian sectors [3]

Group 1: Company Overview and Products - Shanghai Kanda Chemical New Materials Co., Ltd. specializes in polyimide products, particularly polyimide foam materials, which are lightweight, non-flammable, and have low smoke density and sound absorption properties [2] - The primary application of polyimide foam materials is in shipbuilding, with a sales contract signed on January 4, 2016, with Dayang New Materials amounting to CNY 6.4616 million [2] - The company anticipates related transactions with Dayang New Materials not exceeding CNY 25.5 million in 2016 [2] Group 2: Market Trends and Development - The company is exploring applications in other military fields, with potential future applications in aerospace, although cost reduction is necessary to compete with cheaper insulation materials for civilian use [2] - The trend in the packaging industry is shifting towards solvent-free polyurethane composite adhesives, which the company was among the first to develop and sell in China [3] - The company is actively training existing customers who use solvent-based adhesives to gradually expand its market share, emphasizing the environmental advantages and lower overall costs of solvent-free options [3] Group 3: Financial and Regulatory Updates - There are currently no proposals for a mid-term stock transfer [3] - On June 15, 2016, the company publicly disclosed its response to feedback regarding its non-public stock issuance application and submitted the necessary documents to the China Securities Regulatory Commission [3]

Group 1: Company Strategy and Development - The company is committed to a dual-driven development strategy focusing on "new materials + military technology" [1] - The new materials segment aims to expand adhesive product applications in cutting-edge fields such as renewable energy and consumer electronics [1] - The military technology segment focuses on integrating existing military assets and enhancing innovation through collaboration [3] Group 2: Market Position and Competitiveness - The company holds over 65% market share in the wind turbine blade structural adhesive market [2] - Advanced production technology and customer service are key competitive advantages in maintaining market leadership [2] - The decline in raw material prices, particularly epoxy resin, positively impacts the profit margins of the adhesive business segment [2] Group 3: Product Development and R&D - The company is developing ITO target materials in collaboration with Tsinghua University to break foreign technology monopolies [3] - Research on butyl materials focuses on applications in wind energy, photovoltaics, and waterproofing, with significant advancements in product quality and cost-effectiveness [4] - The company has accumulated extensive experience in the lamination processes of butyl sealing materials for various types of solar cells [4]

Group 1: Company Overview - Shanghai Kanda Chemical New Materials Co., Ltd. specializes in polyimide (PI) foam insulation materials, which exhibit excellent thermal resistance, non-combustibility, low smoke density, and flexibility [2][3]. - The company has established a strategic partnership with Ocean New Materials, signing a product sales contract worth RMB 6,461,621.27 on January 4, 2016, marking significant progress in its polyimide business [3]. Group 2: Product Features and Development - The PI foam insulation material has been recognized for its advantages, including high automation, production efficiency, and stable performance, achieving mass production since 2014 [2][3]. - Kanda's self-developed butyl materials feature extremely low moisture permeability, excellent sealing properties, and mechanical performance that meets customer needs, with applications in photovoltaic, wind power, and automotive sectors [3]. Group 3: Financial Outlook and Strategic Plans - The company plans to disclose its 2015 annual report alongside the 2016 financial budget report, which will include projections for net profit in 2016 [3]. - Kanda has formed a long-term strategic cooperation with Ocean New Materials, with no risk of price suppression from distributors due to the acquisition of 51% equity in Ocean New Materials by a related party [3].

Group 1: Company Overview - Kangda New Materials focuses on two main business segments: New Materials and Military Electronics, driving dual-wheel development [1] - The New Materials segment produces high-end adhesives, functional polymers, and fine chemicals, with applications in wind power blade manufacturing, transportation, and construction [1][2] - The Military Electronics segment includes products for aerospace, naval, and army markets, such as electromagnetic compatibility devices and power modules [2] Group 2: Product Performance and Market Position - The company has over 60% market share in the wind power blade structural adhesive market [2] - Key products include epoxy adhesives, polyurethane adhesives, and acrylic adhesives, with performance meeting or exceeding international standards [2] - In the military sector, subsidiaries focus on electromagnetic compatibility and power conversion modules, generating nearly 180 million CNY in revenue and approximately 42 million CNY in net profit in the first three quarters [2] Group 3: Raw Materials and Cost Impact - Major raw materials for wind power adhesives include epoxy resin, curing agents, and silica, with significant price fluctuations affecting gross margins [3] - The price increase of liquid epoxy resin has a substantial impact on the company's profitability [3] Group 4: Strategic Developments - The company is actively expanding its production scale for epoxy infusion resins and increasing innovation in the wind power sector [2] - Recent acquisitions align well with the company's resources, marking a significant step in the transformation towards advanced materials [4]

康达新材料（集团）股份有限公司 2022 年第三季度报告 证券代码：002669 证券简称：康达新材 公告编号：2022-128 康达新材料（集团）股份有限公司 2022 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 1 康达新材料（集团）股份有限公司 2022 年第三季度报告 （二） 非经常性损益项目和金额 适用 □不适用 | | | | 单位：元 | | --- | --- | --- | --- | | 项目 | 本报告期金额 | 年初至报告期期末金额 | 说明 | | 非流动资产处置损益（包括 | | | 主要系报告期内固定资产报 | | 已计提资产减值准备的冲销 | 5,546.29 | -3,910.90 | 废损失 ...

Financial Performance - The company's operating revenue for the first half of 2022 was ¥1,086,270,438.13, representing an increase of 28.13% compared to ¥847,807,639.32 in the same period last year[26]. - The net profit attributable to shareholders of the listed company was a loss of ¥14,672,041.15, a decrease of 152.87% from a profit of ¥27,750,504.47 in the previous year[26]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥16,969,100.14, down 182.21% from ¥20,640,371.46 in the same period last year[26]. - The basic earnings per share were -¥0.059, a decrease of 153.64% from ¥0.110 in the previous year[26]. - The diluted earnings per share were also -¥0.059, reflecting the same percentage decrease as the basic earnings per share[26]. - The total comprehensive income for the first half of 2022 was -¥14,803,721.98, compared to ¥27,314,010.75 in the previous year, indicating a significant decrease[182]. - The company reported a net profit of 12.06 million CNY from its subsidiary, Beikong Technology, which is a significant contributor to the overall net profit[85]. - The company faced a decline in profits due to a decrease in order volume at its subsidiary, Liyuan Xingda, compared to the same period last year[85]. Cash Flow and Investments - The net cash flow from operating activities was ¥80,791,619.32, an increase of 15.98% compared to ¥69,662,738.32 in the previous year[26]. - The net cash flow from financing activities increased by 21.42% to ¥85,738,703.12 compared to ¥70,616,064.03 in the previous year[57]. - The investment activities generated a net cash outflow of ¥135,441,064.89, a 508.65% increase compared to the previous year's outflow of ¥22,252,874.88, mainly due to increased capital expenditures[57]. - Cash outflow from investment activities totaled CNY 135,811,941.58, compared to CNY 443,885,361.53 in the first half of 2021, indicating a significant reduction in investment spending[188]. - The company reported a net increase in cash and cash equivalents of CNY 27,319,271.22, down from CNY 118,077,209.09 in the first half of 2021[189]. Assets and Liabilities - Total assets at the end of the reporting period were ¥3,806,645,132.77, an increase of 2.10% from ¥3,728,378,644.05 at the end of the previous year[26]. - The company's equity attributable to shareholders decreased slightly to CNY 2,260,751,001.47 from CNY 2,262,708,086.03, a decline of 0.09%[174]. - Total liabilities amounted to CNY 1,529,313,232.13, up from CNY 1,437,133,454.40, marking a rise of 6.41%[174]. - The total current assets amounted to ¥2,250,722,970.95, slightly up from ¥2,245,540,911.94, showing a marginal increase[172]. - The company's cash and cash equivalents increased to ¥409,332,792.89, which is 10.75% of total assets, up from 10.30% the previous year[63]. Research and Development - Research and development expenses amounted to ¥43,928,006.91, reflecting a 5.97% increase from ¥41,452,606.13 in the previous year[57]. - The company aims to address 1-2 critical "bottleneck" issues in advanced composite materials within 2-3 years, focusing on polyimide, ceramic-based, epoxy resin-based, and polyurethane-based materials[53]. - The company emphasizes continuous innovation, focusing on R&D in strategic areas such as new energy, new materials, and national defense, which has led to a strong competitive edge and market recognition[46]. Market Position and Strategy - The company operates in two main business segments: adhesive new materials and military electronics, with no significant changes in the main products and business model[34]. - The company has established a strong market position in the adhesive new materials sector, recognized as a leading enterprise in the domestic market[40]. - The adhesive business includes a range of products such as epoxy resin adhesives and polyurethane adhesives, widely used in various industries including wind energy and automotive[35]. - The company has pursued both organic and acquisition strategies to expand its market presence, but faces challenges in integrating acquired entities and managing associated goodwill risks[92]. - The company plans to expand its market presence and invest in new product development, aiming for a 20% increase in R&D spending in the next fiscal year[194]. Risk Management - The company is exposed to risks from macroeconomic fluctuations and the downturn in downstream industries, which could adversely affect its operations[86]. - Rising raw material prices pose a significant risk to the company's cost structure, as raw materials constitute a major portion of production costs[87]. - The company plans to mitigate raw material price risks by diversifying supplier resources and optimizing procurement strategies[87]. - The ongoing COVID-19 pandemic has introduced operational uncertainties, including logistics disruptions and increased bad debt risks due to extended customer payment cycles[94]. Corporate Governance and Compliance - The company has not faced any administrative penalties related to environmental issues during the reporting period[105]. - The company has implemented measures to ensure compliance with environmental standards, including quarterly monitoring of emissions by a qualified third party[106]. - The company has established a safety management committee and emergency response plans for environmental pollution incidents[106]. - The company has not reported any new strategies implemented during the reporting period[74]. Employee and Community Engagement - The company actively participates in poverty alleviation efforts as part of its social responsibility initiatives[106]. - The company donated 50,000 yuan to the Shanghai Charity Foundation during the "Love Under the Blue Sky" charity event[107]. - A subsidiary donated 20,000 yuan to the Fengnan District Red Cross for COVID-19 relief efforts[107]. - The company has implemented a comprehensive talent recruitment network and improved workplace conditions to reduce key talent turnover[91]. Shareholder Information - The company plans to not distribute cash dividends, issue bonus shares, or convert capital reserves into share capital for the semi-annual period[101]. - The first employee stock ownership plan involved 136 employees holding a total of 3,026,811 shares, representing 1.20% of the company's total equity[102]. - The company’s total number of shares before the changes was 252,492,921, with a total of 145,838 shares reduced from restricted shares[153].

Financial Performance - The company's revenue for Q1 2022 was ¥598,664,229.98, representing a 54.84% increase compared to ¥386,637,642.50 in the same period last year[3] - The net profit attributable to shareholders was a loss of ¥10,396,127.38, a decline of 134.40% from a profit of ¥30,221,561.79 in the previous year[3] - The net profit for the current period was a loss of ¥10.37 million, compared to a profit of ¥29.93 million in the previous period, reflecting a decline of approximately 134.6%[26] - The total comprehensive income attributable to the parent company was -10,396,502.66 yuan, compared to 30,223,829.61 yuan in the previous period[27] - The basic and diluted earnings per share were both -0.041 yuan, down from 0.120 yuan in the previous period[27] Cash Flow - The net cash flow from operating activities was -¥75,340,459.93, a decrease of 132.54% compared to -¥32,399,406.26 in the same period last year[9] - Cash inflow from operating activities totaled 821,897,666.31 yuan, an increase from 488,383,554.56 yuan year-over-year[30] - The net cash flow from financing activities was 57,398,025.71 yuan, up from 13,710,005.52 yuan in the previous period[31] - The ending cash and cash equivalents balance was 239,814,843.14 yuan, down from 271,997,969.96 yuan at the end of the previous period[31] - The company reported a cash outflow of 765,149,942.55 yuan for purchasing goods and services, up from 370,236,584.03 yuan in the previous period[30] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,865,148,205.18, a 3.67% increase from ¥3,728,378,644.05 at the end of the previous year[3] - The total liabilities increased to ¥1.57 billion from ¥1.44 billion, indicating a rise of about 9.1%[23] - Current assets totaled ¥2.36 billion, compared to ¥2.25 billion at the beginning of the year, representing a growth of about 5.0%[22] - The company's inventory rose to ¥469.57 million from ¥379.04 million, reflecting an increase of approximately 23.8%[22] - The total equity attributable to shareholders increased slightly to ¥2.28 billion from ¥2.26 billion, a growth of about 0.7%[23] Operating Costs and Expenses - The gross profit margin decreased due to a 79.37% increase in operating costs, which reached ¥521,260,907.88 compared to ¥290,599,889.74 in the previous year[7] - Total operating costs amounted to ¥605.20 million, up from ¥361.26 million, indicating an increase of about 67.5%[25] - Research and development expenses increased by 30.74% to ¥23,809,083.90 from ¥18,210,497.03 year-on-year, indicating a focus on innovation[7] - Research and development expenses increased to ¥23.81 million from ¥18.21 million, marking a rise of about 30.5%[26] Shareholder Information - The total number of common shareholders at the end of the reporting period was 20,829[11] - The largest shareholder, Tangshan Jin控产业孵化器集团有限公司, holds 24.99% of shares, totaling 63,095,200 shares[11] - The company’s total number of preferred shareholders is zero, indicating no preferred shares outstanding[13] - The third employee stock ownership plan involves 3,899,100 shares, accounting for 1.5442% of the total share capital[17] Investments and Financing - The company plans to raise up to 700 million RMB through a non-public offering of A-shares, down from a previous cap of 750 million RMB[13] - Shanghai Kangxia Technology Co., Ltd. has invested 5 million RMB to acquire a 10% stake in Hefei Donghua Composite Technology Co., Ltd.[19] - The company has completed the transfer of 60% equity in Tianjin Yiyuantong International Trade Co., Ltd. for 18.15 million RMB[18] Other Information - The company reported a significant increase in prepayments, which rose by 92.95% to ¥87,345,831.28, primarily due to increased raw material procurement[6] - The company experienced a 318.66% increase in net cash flow from financing activities, amounting to ¥57,398,025.71, attributed to increased short-term bank loans[9] - The company did not conduct an audit for the first quarter report[32]

Financial Performance - The company reported a total revenue of RMB 1.5 billion for the year 2021, representing a year-on-year increase of 20%[15]. - The net profit attributable to shareholders was RMB 300 million, an increase of 15% compared to the previous year[15]. - The company's operating revenue for 2021 was approximately ¥2.27 billion, an increase of 17.57% compared to ¥1.93 billion in 2020[20]. - The net profit attributable to shareholders for 2021 was approximately ¥22 million, a decrease of 89.77% from ¥215 million in 2020[20]. - The net cash flow from operating activities for 2021 was approximately ¥208 million, a significant increase of 269.32% compared to a negative cash flow of ¥123 million in 2020[20]. - The company's total revenue for 2021 reached ¥2,271,612,976.74, representing a year-on-year increase of 17.57% compared to ¥1,932,135,499.94 in 2020[85]. - The adhesive industry accounted for 70.11% of total revenue, generating ¥1,592,588,996.60, which is a decrease of 5.72% from the previous year's ¥1,689,142,284.58[86]. - The electronic product services segment saw a significant growth of 35.25%, contributing ¥273,320,973.67, up from ¥202,086,024.39 in 2020[86]. - The company reported a net profit of 5.49 million yuan from Nanjing Tianyu Industrial Co. for the period from April to December 2021[136]. Market Expansion and Strategy - Future guidance indicates an expected revenue growth of 15% to 20% for 2022, driven by market expansion and new product launches[15]. - The company has initiated a market expansion strategy targeting Southeast Asia, aiming for a 10% market share within the next three years[15]. - The company plans to expand its market presence in offshore wind power and has established partnerships with major international clients for blade testing[64]. - Market expansion efforts include entering two new international markets, projected to contribute an additional 50 million in revenue[178]. - The company plans to enhance its product structure through independent and collaborative R&D, targeting key technologies in epoxy, polyurethane, and acrylic adhesives[144]. - The company is actively expanding its adhesive industry layout through acquisitions[164]. Research and Development - The company plans to invest RMB 200 million in R&D for new product development in 2022, focusing on advanced materials technology[15]. - The company emphasizes R&D and market orientation, continuously enhancing its R&D capabilities and expanding production scale[42]. - The company invested 9,808.28 million CNY in R&D, resulting in 27 new patents granted, including 12 invention patents[72]. - The company has established partnerships with top research institutions and universities to strengthen its R&D capabilities[55]. - The company aims to expand its product offerings and improve technological capabilities through ongoing R&D initiatives[100]. - The number of R&D personnel increased to 285 in 2021, representing an 11.33% growth compared to 256 in 2020[103]. Acquisitions and Strategic Investments - The company is exploring strategic acquisitions to enhance its market position, with a budget of RMB 500 million allocated for potential mergers and acquisitions[15]. - The company completed the acquisition of Biko Technology and its subsidiary, expanding into military electronics and related products[29]. - The company has made several acquisitions, including Shanghai Liri Chemical New Materials and Nanjing Tianyu Industrial Co., which are expected to enhance product variety and create new profit growth points[136]. - The company completed significant R&D projects, including solvent-free adhesives and UV-LED ink, aimed at enhancing product lines and market competitiveness[100]. Risk Management - The company has identified potential risks including raw material price fluctuations and regulatory changes, and has outlined mitigation strategies in its report[4]. - The company recognizes risks from macroeconomic fluctuations and raw material price increases, and is taking measures to enhance its risk management capabilities[151][152]. - The company faced challenges with raw material price fluctuations, which negatively impacted the gross profit margin of its products[128]. Governance and Compliance - The company maintains a high level of governance, ensuring the protection of minority shareholders' rights[169]. - The company has established specialized committees to provide professional opinions for board decisions[169]. - The company has a complete organizational structure and management system, ensuring independent operation of the board, supervisory board, and other internal departments[175]. - The company has not faced any penalties from securities regulatory authorities in the past three years[188]. Employee and Management - The total number of employees at the end of the reporting period was 1,244, with 573 in the parent company and 671 in major subsidiaries[199]. - The company adopted a multi-level salary and position management system, adjusting the total salary based on actual operational conditions to ensure efficiency, fairness, and legality[200]. - The company is committed to talent development, establishing a robust talent pipeline and implementing an employee stock ownership plan to align interests[62]. Product Development and Innovation - The company is focusing on expanding its technology development field with products like high-power digital power supplies and dual-input high-power converters currently in development[103]. - The company has successfully completed the development of products such as waterproof membrane low-temperature resistant rubber and wind turbine blade infusion polyurethane resin, enhancing its product portfolio[102]. - The company is enhancing its product competitiveness through structural optimization and the introduction of environmentally friendly new products in the soft packaging industry[66]. Financial Management - The company has achieved a record high in project loan financing, optimizing its debt structure and maintaining a moderate asset-liability ratio[77]. - The company has implemented strict management of raised funds, ensuring effective and reasonable use while controlling project costs[129]. - The company has increased accounts receivable due to business expansion, with a focus on managing credit risk through classification and monitoring of clients[154].