广东顺威精密塑料股份有限公司 2022 年第三季度报告 证券代码：002676 证券简称：顺威股份 公告编号：2022-050 广东顺威精密塑料股份有限公司 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. 公司负责人张放、主管会计工作负责人易雨及会计机构负责人(会计主管人员)张晴 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 广东顺威精密塑料股份有限公司 2022 年第三季度报告 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 单位：元 | 项目 | 期末数 | 期初数 | 同比增减(%) 本期比上期增减变动原因 | | --- | --- | --- | --- | | 应收票据 | 173,744,590.00 | 37,478,896.23 | 363.58% ...

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 1,011,125,040.98, a decrease of 11.52% compared to CNY 1,142,730,611.30 in the same period last year[21]. - The net profit attributable to shareholders was CNY 36,046,374.04, down 23.94% from CNY 47,392,012.26 year-on-year[21]. - Basic earnings per share decreased by 23.86% to CNY 0.0501 from CNY 0.0658 in the same period last year[22]. - The company reported a decrease of 31.00% in net profit after deducting non-recurring gains and losses, amounting to CNY 30,967,598.12 compared to CNY 44,878,636.03 in the previous year[21]. - The weighted average return on net assets was 3.23%, down from 4.33% in the same period last year[22]. - The company achieved operating revenue of CNY 1,011,125,040.98 in the first half of 2022, a decrease of 11.52% year-on-year due to the impact of the pandemic and economic cycles[46]. - Net profit attributable to shareholders was CNY 3,604,640.00, down 23.94% compared to the previous year, influenced by rising raw material and labor costs[46]. - The company recorded a total comprehensive income of CNY 35,930,395.74, a decrease of 22.2% compared to CNY 46,275,705.32 in the same period last year[149]. Cash Flow and Financial Position - The net cash flow from operating activities was negative CNY 71,103,765.31, representing a decline of 77.40% compared to negative CNY 40,081,755.03 in the previous year[22]. - The company reported a net cash flow from operating activities of -CNY 71,103,765.31, a decline of 77.40% due to slower collection of receivables[48]. - The company’s cash flow from financing activities increased by 356.90% to CNY 53,868,745.00, attributed to increased borrowing[48]. - The total assets increased by 5.11% to CNY 2,230,369,813.24 from CNY 2,121,892,750.51 at the end of the previous year[22]. - The total liabilities increased to CNY 1,078,153,523.89 as of June 30, 2022, up from CNY 1,005,615,152.33 at the beginning of the year, representing a growth of approximately 7.2%[142]. - The company’s cash and cash equivalents decreased to CNY 148,793,433.67, representing 6.67% of total assets, down from 8.33%[55]. - The total equity attributable to the parent company at the end of the reporting period is CNY 1,152,216,289.35, showing a slight increase from CNY 1,090,673,396.94 in the previous year[165]. Market and Industry Position - The company specializes in the research, development, production, and sales of modified plastics, with key products including reinforced AS, ABS, PA, PP, PC, and PBT, widely used in air conditioning, electronics, and automotive sectors[30]. - The company maintains a leading position in the plastic air conditioning fan blade industry, with a complete industrial chain from plastic modification to intelligent manufacturing[31]. - The modified plastics industry is supported by favorable national policies, with significant applications in home appliances, automotive, and consumer electronics[29]. - The air conditioning fan blade industry is cyclical, closely tied to macroeconomic conditions and seasonal demand, with peak procurement typically from November to June[36]. - The company is expanding into high-profit growth areas such as automotive components and smart manufacturing equipment, diversifying its business[45]. Research and Development - The company holds 8 national invention patents, 240 utility model patents, and 61 design patents related to air conditioning blades, showcasing its strong R&D capabilities[40]. - The materials R&D center has obtained 15 national invention patents and 25 utility model patents, focusing on environmentally friendly and low-carbon modified materials[41]. - The company has made significant investments in smart manufacturing, holding 3 national invention patents and 56 utility model patents in this area[42]. - The company is positioned to leverage its R&D and intelligent manufacturing advantages to explore high-end markets and expand its product offerings in new materials and precision components[38]. Environmental and Social Responsibility - The company has implemented an environmental management system and has not faced significant environmental penalties during the reporting period[81]. - The company upgraded its waste gas treatment facilities to enhance compliance with environmental standards, reflecting its commitment to sustainability[82]. - The company emphasizes environmental protection and has not experienced any major environmental pollution incidents in the first half of 2022, adhering to various environmental laws and regulations[88]. - The company has established emergency response plans for environmental incidents to safeguard personnel and minimize property loss[82]. Shareholder and Corporate Governance - The major shareholder, Guangzhou Kaidou Intelligent Manufacturing Industry Investment Group Co., Ltd., holds 209,785,341 shares, accounting for 29.14% of the total share capital[114]. - The company has not engaged in any significant related party transactions during the reporting period, ensuring transparency and compliance with regulations[98]. - The company has established a stable and scientific dividend mechanism to ensure long-term and sustainable development, protecting the legitimate rights and interests of minority investors[84]. - The company has not distributed cash dividends or bonus shares for the reporting period, indicating a focus on reinvestment[78]. Legal and Compliance - There were no major lawsuits or arbitration matters during the reporting period, indicating a stable legal standing[96]. - The company has not experienced any non-compliance with external guarantees during the reporting period, reflecting sound financial practices[93]. - The financial report was approved by the board of directors on August 17, 2022, ensuring timely disclosure of financial performance[187]. Operational Strategies - The company employs a centralized procurement model for raw materials, which are sourced based on production plans, market prices, and inventory levels[33]. - The production model is based on "sales-driven production," ensuring that manufacturing aligns closely with market demand[33]. - The company has implemented smart manufacturing processes, including the use of robots in key operations, enhancing efficiency and receiving high recognition from the industry and clients[39].

Financial Performance - The company's revenue for Q1 2022 was ¥488,286,928.78, a decrease of 7.14% compared to ¥525,848,535.77 in the same period last year[3] - Net profit attributable to shareholders was ¥17,117,277.44, down 28.71% from ¥24,010,989.80 year-on-year[3] - The net profit after deducting non-recurring gains and losses was ¥13,400,315.73, reflecting a decline of 41.65% compared to ¥22,967,345.42 in the previous year[3] - The company's basic and diluted earnings per share were both ¥0.0238, a decrease of 28.53% from ¥0.0333 in the same period last year[3] - Total operating revenue for Q1 2022 was CNY 488.29 million, a decrease of 7.13% compared to CNY 525.85 million in Q1 2021[17] - Net profit for Q1 2022 was CNY 17.12 million, a decline of 28.66% from CNY 23.99 million in Q1 2021[19] - The company reported a total profit of CNY 20.78 million for Q1 2022, down 30.06% from CNY 29.72 million in the same period last year[19] Cash Flow and Liquidity - The company reported a net cash flow from operating activities of -¥35,219,911.74, an improvement of 5.65% from -¥37,329,264.28 in the previous year[3] - Cash flow from operating activities for Q1 2022 showed a net outflow of CNY 32.98 million, an improvement from a net outflow of CNY 37.33 million in Q1 2021[22] - The company experienced a net cash outflow of CNY 27.21 million in Q1 2022, compared to a net outflow of CNY 27.61 million in Q1 2021[23] - Cash and cash equivalents at the end of Q1 2022 were CNY 128.23 million, down from CNY 150.28 million at the end of Q1 2021[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,112,644,257.77, a slight decrease of 0.44% from ¥2,121,892,750.51 at the end of the previous year[3] - As of March 31, 2022, the total assets of Guangdong Shunwei Precision Plastic Co., Ltd. amounted to CNY 2,114,320,656.19, a slight decrease from CNY 2,121,892,750.51 at the beginning of the year[15] - The company's current assets totaled CNY 1,385,458,397.45, showing a marginal increase from CNY 1,379,474,078.57 at the beginning of the year[15] - The total liabilities decreased to CNY 981,255,778.87 from CNY 1,005,615,152.33 at the beginning of the year, indicating a reduction in financial obligations[16] - The company's cash and cash equivalents decreased to CNY 149,469,893.73 from CNY 176,676,606.28, reflecting a decline of approximately 15.4%[14] - Accounts receivable increased to CNY 589,524,522.67 from CNY 610,097,187.54, indicating a decrease of about 3.4%[14] - Inventory decreased to CNY 401,266,769.34 from CNY 413,901,992.56, representing a decline of approximately 3.1%[15] - The company's equity attributable to shareholders increased to CNY 1,114,400,448.27 from CNY 1,097,611,225.38, reflecting a growth of about 1.5%[16] - The company reported a significant increase in accounts payable, which rose to CNY 236,603,911.83 from CNY 267,110,774.39, indicating a decrease of approximately 11.4%[16] - The company’s short-term borrowings decreased to CNY 453,000,186.47 from CNY 463,675,397.86, showing a reduction of about 2.6%[16] - The company’s non-current liabilities slightly decreased to CNY 98,746,685.59 from CNY 99,702,801.04, indicating a minor reduction in long-term financial commitments[16] Research and Development - Research and development expenses increased by 40.20% to ¥9,011,916.48 from ¥6,427,728.07 in the previous year[7] - Research and development expenses increased to CNY 9.01 million in Q1 2022, up from CNY 6.43 million in Q1 2021, reflecting a focus on innovation[17] Other Income - Other income rose significantly by 183.17% to ¥2,917,565.16 compared to ¥1,030,334.81 in the previous year[7] - The company recorded a significant increase in asset disposal gains, which reached ¥1,363,538.88, up 4674.93% from ¥28,556.23 in the previous year[7]

Financial Performance - The company's operating revenue for 2021 was CNY 2,132,731,420.66, representing a 23.40% increase compared to CNY 1,728,369,950.27 in 2020[20]. - The net profit attributable to shareholders for 2021 was CNY 34,134,239.92, up 24.40% from CNY 27,439,170.15 in 2020[20]. - The net cash flow from operating activities increased by 64.40% to CNY 65,976,797.77 in 2021, compared to CNY 40,131,752.50 in 2020[20]. - The basic earnings per share for 2021 was CNY 0.0474, a 24.41% increase from CNY 0.0381 in 2020[21]. - Total assets at the end of 2021 were CNY 2,121,892,750.51, reflecting a 7.50% increase from CNY 1,973,794,847.64 at the end of 2020[21]. - The net assets attributable to shareholders increased by 2.41% to CNY 1,097,611,225.38 at the end of 2021, compared to CNY 1,071,775,367.20 at the end of 2020[21]. - The company reported a decrease of 29.64% in net profit attributable to shareholders after deducting non-recurring gains and losses, totaling CNY 14,828,596.87 in 2021[20]. - The weighted average return on equity for 2021 was 3.15%, an increase from 2.59% in 2020[21]. Market Position and Strategy - The company is positioned as one of the leading manufacturers of plastic air conditioning blades, with a complete industry chain from plastic modification to intelligent manufacturing[34]. - The company aims to enhance its competitive edge through R&D in new materials and smart manufacturing technologies, focusing on high-end market segments[35]. - The company is actively expanding its product offerings and market reach, particularly in the automotive and home appliance sectors, leveraging its advanced production capabilities[35]. - The company has established a strong presence in the modified plastics sector, which is supported by favorable government policies and increasing demand across various industries[31]. - The company is expanding into high-profit growth areas such as automotive components and smart manufacturing equipment, leveraging its R&D capabilities[53]. - The company aims to accelerate its business in Southeast Asia and diversify into high-profit growth areas such as automotive precision components and smart home products[95]. Research and Development - The company has a strong R&D team with over ten years of technical accumulation, continuously responding to downstream customer needs[42]. - The company is focusing on strategic adjustments to align with future development plans, indicating a proactive approach to management and governance[121]. - The company is developing a new high-performance centrifugal fan to enhance core competitiveness[72]. - The project for optimizing the air duct of the fan is in the testing phase, aiming to improve performance[72]. - The company has completed the review of a new low-noise centrifugal fan for household use, which is expected to enhance market competitiveness[73]. Production and Operations - The company has developed advanced automation equipment for production, including ultrasonic welding machines and automated dynamic balancing machines, achieving industry-leading levels[42]. - The procurement model for major raw materials includes centralized purchasing, with AS/ABS/glass fiber accounting for 47.02% of total procurement[42]. - The main products include three types of fan blades: cross-flow, axial-flow, and centrifugal, which are critical for air conditioning performance[36]. - The company employs a "sales-driven production" model, ensuring production aligns with market demand[37]. - The company has a comprehensive supply chain advantage, integrating plastic air conditioning blade production with modified plastics and mold development[51]. Financial Management and Governance - The company has maintained a robust governance structure, ensuring compliance with relevant laws and regulations, and has conducted one shareholders' meeting and five board meetings during the reporting period[113]. - The company operates independently from its controlling shareholder in terms of business, personnel, assets, organization, and finance, ensuring no conflicts of interest or resource occupation[115]. - The company has established a complete and independent financial management system, with dedicated financial personnel and independent bank accounts, ensuring no fund occupation by the controlling shareholder[116]. - The company has a strong emphasis on financial oversight, with newly appointed executives holding significant financial management experience[123][126]. Human Resources and Talent Development - The total number of employees at the end of the reporting period was 3,859, with 1,255 in the parent company and 2,604 in major subsidiaries[143]. - The company implemented a salary management system based on performance, ensuring competitive compensation to attract and retain talent[144]. - The company has established a talent development program to build a management talent pipeline, focusing on various business modules[146]. - The company has initiated a training program through the Shunwei Business School, offering 11 specialized courses to enhance employee skills and understanding of corporate culture[146]. Environmental and Safety Management - The company actively promotes environmental protection and has not faced any major environmental pollution incidents in 2021[162]. - The company has implemented strict internal control systems for safety management, with significant investments in safety equipment and training during the reporting period[168]. - The company has not experienced any major safety incidents during the reporting period, reinforcing its commitment to safety management[167]. - The company has adhered to environmental protection laws and has not faced any major environmental pollution incidents in 2021[168]. Challenges and Risks - The ongoing pandemic has pressured air conditioning manufacturers to demand price reductions from suppliers, impacting the company's product profitability, prompting the company to implement cost reduction and efficiency improvement measures[108]. - Raw material price fluctuations pose a direct risk to the company's profitability, as raw material costs constitute a high proportion of total costs; the company has established a price linkage mechanism with clients to mitigate cost pressures[109]. - The company faces exchange rate fluctuation risks due to its products being primarily exported to Korea, Japan, Europe, and the United States, with most transactions settled in USD, which could lead to significant foreign exchange losses[108]. Shareholder and Executive Changes - The company underwent significant management changes, with multiple executives resigning and new appointments made on January 20, 2022, as part of a strategic development plan[121]. - Zhang Fang was elected as the new chairman of the board on January 20, 2022, succeeding Mo Qiyan[121]. - The company experienced a change in its largest shareholder on December 10, 2021, prompting adjustments in the board and management[119]. - The current board includes new members appointed in January 2022, reflecting a shift in leadership[119].

Financial Performance - The company's revenue for Q3 2021 was CNY 460,925,735.73, representing a 3.67% increase year-over-year, while the year-to-date revenue reached CNY 1,603,656,347.03, up 26.87% compared to the same period last year[5]. - Net profit attributable to shareholders for Q3 2021 was CNY 924,623.80, a significant decrease of 92.93% year-over-year, while the year-to-date net profit was CNY 48,316,636.06, an increase of 96.87%[5]. - The company reported total operating revenue of CNY 1,603,656,347.03 for the current period, an increase of 26.8% compared to CNY 1,264,023,206.83 in the previous period[26]. - The net profit for Q3 2021 was CNY 48,074,396.27, a 93.5% increase compared to CNY 24,929,410.94 in the same period last year[27]. - Operating profit reached CNY 58,228,262.55, up from CNY 27,980,018.55, reflecting a growth of 107.5% year-over-year[27]. - The company reported a total comprehensive income of CNY 47,043,734.22, compared to CNY 24,620,851.07 in the same quarter last year, marking an increase of 90.5%[28]. Cash Flow and Assets - The company reported a net cash flow from operating activities of CNY -7,381,031.91 for the year-to-date, reflecting a decline of 129.37% compared to the previous year[5]. - The company's cash and cash equivalents decreased to CNY 165,342,847.67 from CNY 197,865,925.55, indicating a decline of approximately 16.4%[22]. - The total assets at the end of Q3 2021 were CNY 2,049,778,650.72, a 3.85% increase from the end of the previous year[5]. - Total assets increased from CNY 1,973,794,847.64 to CNY 2,027,819,629.72, a rise of CNY 54,024,782.08[34]. - Current assets totaled CNY 1,307,350,477.81, slightly decreasing by CNY 3,735,079.83 from the previous period[34]. - Cash and cash equivalents remained stable at CNY 197,865,925.55[33]. Liabilities and Equity - The company’s total liabilities increased to CNY 912,059,492.46 from CNY 883,121,450.70, reflecting a rise of about 3.0%[24]. - Total liabilities rose to CNY 937,149,481.53, an increase of CNY 54,028,030.83[35]. - The equity attributable to shareholders rose to CNY 1,119,063,368.33 from CNY 1,071,775,367.20, indicating an increase of approximately 4.4%[24]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 24,408[12]. - The largest shareholder, Western Gain Fund, holds 16.71% of shares, totaling 120,286,062 shares[12]. - A share transfer agreement was signed on October 15, 2021, where Western Gain Fund transferred 57,600,000 shares (8.00% of total shares) to Guangzhou Development Zone Intelligent Manufacturing Investment Co., Ltd.[13]. - The company is currently processing the transfer of 60,947,010 shares (8.46% of total shares) previously held by shareholder Wen Xitang, which were auctioned due to legal issues[16]. - The company has a significant number of pledged shares, with 108,000,000 shares pledged by shareholder Jiang Jiuming[12]. - The company is involved in ongoing legal proceedings related to the pledged shares of major shareholder Jiang Jiuming, which have resulted in public auctions[14]. Research and Development - Research and development expenses increased by 30.18% to CNY 31,786,863.19 in Q3 2021, indicating a rise in investment in R&D projects[10]. - Research and development expenses increased to CNY 31,786,863.19, a rise of 30.4% from CNY 24,418,075.02 in the previous year[27]. Investment Income - The company reported a significant increase in investment income of 1678.68% to CNY 2,703,586.71, attributed to debt restructuring gains[10]. - The company achieved investment income of CNY 2,703,586.71, significantly higher than CNY 152,000.00 in the same quarter last year[27].

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,142,730,611.30, representing a 39.46% increase compared to CNY 819,424,339.15 in the same period last year[21]. - The net profit attributable to shareholders was CNY 47,392,012.26, a significant increase of 313.06% from CNY 11,473,274.75 in the previous year[21]. - The net profit after deducting non-recurring gains and losses reached CNY 42,207,626.68, up 431.18% from CNY 7,945,951.37 year-on-year[21]. - The basic earnings per share increased to CNY 0.0658, reflecting a growth of 313.84% compared to CNY 0.0159 in the same period last year[21]. - The total revenue for the first half of 2021 reached CNY 1,142,730,611.30, representing a year-on-year increase of 39.46% compared to CNY 819,424,339.15 in the same period last year[45]. - The net profit for the first half of 2021 was CNY 47,251,263.87, representing a substantial growth of 300.5% from CNY 11,775,806.72 in the first half of 2020[138]. - The total comprehensive income for the first half of 2021 was CNY 46,275,705.32, significantly higher than CNY 12,242,531.50 in the first half of 2020[139]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,102,969,761.31, marking a 6.54% increase from CNY 1,973,794,847.64 at the end of the previous year[21]. - The total liabilities increased to CNY 966,019,054.68 from CNY 883,121,450.70, which is an increase of about 9.4%[129]. - The company's equity attributable to shareholders reached CNY 1,118,193,425.30, compared to CNY 1,071,775,367.20 at the end of 2020, showing an increase of approximately 4.3%[130]. - The company's current assets totaled CNY 1,401,876,162.79 as of June 30, 2021, compared to CNY 1,307,350,477.81 at the end of 2020, indicating an increase of about 7.2%[128]. - The total assets as of June 30, 2021, amounted to CNY 1,844,633,571.78, up from CNY 1,814,973,342.66 at the end of 2020[135]. Cash Flow - The company reported a net cash flow from operating activities of CNY -40,081,755.03, which is an improvement of 8.92% compared to CNY -44,007,149.93 in the same period last year[21]. - The company's cash flow from operating activities showed a net outflow of CNY 40.08 million in the first half of 2021, an improvement from a net outflow of CNY 44.01 million in the same period of 2020[146]. - Cash inflow from sales of goods and services was CNY 689.58 million in the first half of 2021, compared to CNY 502.59 million in the first half of 2020, indicating a growth of 37.2%[144]. Research and Development - The company's R&D investment increased by 25.29% to ¥17,859,322.18 from ¥14,254,759.59, reflecting a commitment to innovation and product development[43]. - The company holds a total of 215 valid national patents related to fan blades, including 5 invention patents, 135 utility model patents, and 72 design patents, showcasing its strong R&D capabilities[37]. - The company has 41 valid national patents related to intelligent manufacturing, including 1 invention patent and 31 utility model patents, indicating its focus on automation and efficiency[38]. Market and Industry - The domestic air conditioning industry saw a production increase of 12.9% and sales growth of 11.9%, with 86.52 million units produced and 86.37 million units sold in the first half of 2021[33]. - The market for modified plastics is growing, driven by trends such as "plastic instead of steel" and "plastic instead of wood" in various industries[33]. - The company has expanded into high-profit growth areas such as automotive components and intelligent manufacturing equipment, aligning with its diversified development strategy[40]. Risk Management - The company faces risks related to exchange rate fluctuations, product price volatility, and raw material price changes, which are detailed in the risk management section of the report[5]. - The company has implemented cost control measures to mitigate the impact of price fluctuations in raw materials, which constitute a significant portion of its costs[64]. - The company has established a pricing mechanism linked to raw material costs with its clients to transfer cost pressures[64]. Corporate Governance - The company has not engaged in any major litigation or arbitration matters during the reporting period[85]. - The company has not conducted any asset or equity acquisitions or sales during the reporting period[89]. - The company has not engaged in any major related party transactions during the reporting period[93]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 24,859[112]. - The company’s major shareholder, Jiang Jiuming, had 15.3 million shares due for repurchase in August 2017, and 4.5 million shares due in January 2018, leading to legal proceedings due to non-repurchase[103]. - A court ruling led to the auction of 30 million shares held by Jiang Jiuming, which was completed by July 17, 2021[104]. Compliance and Certifications - The company has passed OHSAS18001 certification for occupational health and safety management, ensuring safety in production operations[75]. - The company strictly adheres to environmental protection regulations and has implemented effective comprehensive treatment of wastewater and waste gas[77]. Future Outlook - The company continues to focus on research and development in non-metallic products, which may drive future growth and innovation[166]. - The company maintains a good ability to continue operations, with no significant doubts regarding its ongoing viability for the next 12 months[172].

Financial Performance - The company's operating revenue for 2020 was CNY 1,728,369,950.27, representing a 2.76% increase compared to CNY 1,681,931,411.52 in 2019[18]. - The net profit attributable to shareholders in 2020 was CNY 27,439,170.15, a significant increase of 199.73% from CNY 9,154,749.35 in 2019[18]. - The net profit after deducting non-recurring gains and losses was CNY 21,074,190.71, up 131.31% from CNY 9,110,971.35 in the previous year[18]. - The net cash flow from operating activities reached CNY 40,131,752.50, marking a 120.90% increase from CNY 18,167,464.16 in 2019[18]. - The basic earnings per share for 2020 was CNY 0.0381, a 200.00% increase compared to CNY 0.0127 in 2019[18]. - Total assets at the end of 2020 amounted to CNY 1,973,794,847.64, reflecting a 4.32% increase from CNY 1,892,011,717.91 at the end of 2019[18]. - The net assets attributable to shareholders were CNY 1,071,775,367.20 at the end of 2020, up 2.59% from CNY 1,044,728,598.91 in 2019[18]. - The weighted average return on net assets for 2020 was 2.59%, an increase of 1.71 percentage points from 0.88% in 2019[18]. Revenue Breakdown - The company's total revenue for Q1 2020 was approximately CNY 308.62 million, with Q2 at CNY 510.81 million, Q3 at CNY 444.60 million, and Q4 at CNY 464.35 million, indicating a strong performance despite market challenges[22]. - The main product, plastic air conditioning fan blades, generated revenue of CNY 1,263,974,389.76, accounting for 73.13% of total revenue, with a slight decrease of 0.73% from the previous year[53]. - Export revenue reached CNY 301,009,160.19, making up 17.42% of total revenue, with a year-on-year increase of 1.03%[53]. - The company’s domestic revenue was CNY 1,427,360,790.08, which is 82.58% of total revenue, with a growth of 3.13% compared to the previous year[53]. Market Position and Strategy - The company maintained its leading position in the plastic air conditioning fan blade market, with a focus on R&D and manufacturing capabilities, despite the overall decline in the air conditioning industry due to the pandemic[25]. - The company’s strategic focus on innovation and market expansion positions it well to capitalize on the growing demand for modified plastics in various sectors, driven by trends such as "plastic replacing steel" and "plastic replacing wood" in China[31][32]. - The company is focusing on high-profit growth areas such as automotive components and smart manufacturing, expanding its business diversification[40]. - The company is actively expanding its market presence in Southeast Asia, particularly through its operations in Thailand[44]. Research and Development - The company holds 184 valid national patents for fan blades, including 7 invention patents and 177 utility model patents, showcasing its strong R&D capabilities[37]. - The company has developed new materials with intellectual property rights, including high-strength lightweight foamed materials and functional adhesive resins[37]. - The company has established a provincial engineering technology research center, enhancing its innovation capabilities in the plastic air conditioning blade sector[37]. Operational Efficiency - The company has established a centralized procurement model to optimize raw material sourcing based on production plans and market conditions, enhancing operational efficiency[27]. - The company emphasizes a flat management structure and lean production to improve operational efficiency and reduce costs[40]. - The company implemented structural adjustments and flat management to enhance operational efficiency and cost control[43]. Environmental and Social Responsibility - The company emphasizes environmental protection and has implemented effective management of wastewater and waste gas, not classified as a heavily polluting industry[141]. - The company has installed UV and activated carbon adsorption systems in its injection molding workshop, achieving compliance with emission standards[145]. - The company has actively fulfilled social responsibilities, ensuring compliance with laws and regulations to protect the rights of shareholders and creditors[139]. Shareholder and Governance - The company has a total share capital of 720 million shares, with 719,964,834 shares being unrestricted[152]. - The company does not have a controlling shareholder or actual controller, as major decisions require shareholder meeting discussions[158]. - The independent directors attended all board meetings and shareholder meetings, ensuring oversight and governance[191]. - The company has maintained compliance with its cash dividend policy and has provided opportunities for minority shareholders to express their opinions[106]. Future Outlook - Future operational plans and targets are subject to market conditions and uncertainties, and do not constitute profit forecasts or commitments to investors[4]. - The company anticipates potential revenue decline in 2021 due to rising raw material costs and price reduction requests from customers[97]. - The company plans to retain its undistributed profits from 2020 to meet operational and project funding needs, aiming to enhance financial stability and competitiveness[109].

Financial Performance - The company's revenue for Q1 2021 was ¥525,848,535.77, representing a 70.39% increase compared to ¥308,618,352.54 in the same period last year[8]. - Net profit attributable to shareholders reached ¥24,010,989.80, a significant increase of 2,711.40% from ¥854,057.35 in the previous year[8]. - The net profit after deducting non-recurring gains and losses was ¥22,967,345.42, up 19,061.26% from ¥119,863.41 year-on-year[8]. - Basic earnings per share rose to ¥0.0333, a 2,675.00% increase from ¥0.0012 in the same period last year[8]. - Operating profit for Q1 2021 was CNY 29,554,294.49, compared to CNY 610,438.24 in the same period last year, indicating a substantial improvement[41]. - Net profit for Q1 2021 was CNY 23,988,069.22, a dramatic increase from CNY 807,110.62 in Q1 2020, reflecting a growth of approximately 2,870%[41]. - The company reported a total comprehensive income of CNY 23,681,951.44 for Q1 2021, compared to CNY 1,314,641.82 in Q1 2020, highlighting strong financial performance[41]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,077,458,515.41, reflecting a 5.25% increase from ¥1,973,794,847.64 at the end of the previous year[8]. - The company's total assets as of March 31, 2021, amounted to ¥2,077,458,515.41, up from ¥1,973,794,847.64 at the end of the previous year[34]. - Current assets totaled ¥1,368,153,468.28, an increase from ¥1,307,350,477.81 at the end of the previous year[31]. - The total liabilities increased to ¥963,104,227.26 from ¥883,121,450.70, indicating a rise in financial obligations[33]. - The total liabilities as of March 31, 2021, were CNY 901,936,488.14, compared to CNY 858,864,980.29 at the end of 2020, representing an increase of 5.0%[38]. - The total equity attributable to shareholders decreased slightly from ¥1,071,775,367.20 to ¥1,071,772,118.45, with a reduction of ¥3,248.75[55]. Cash Flow - The net cash flow from operating activities was -¥37,329,264.28, a decline of 61.27% compared to -¥23,146,379.29 in the previous year[8]. - Cash flow from operating activities showed a net outflow of ¥37,329,264.28, worsening from a net outflow of ¥23,146,379.29 in the previous period[48]. - The net cash flow from financing activities was positive at ¥17,048,347.20, compared to a negative cash flow of ¥6,448,322.96 in the previous period[51]. - The company's cash and cash equivalents decreased to ¥170,439,803.57 from ¥197,865,925.55, reflecting changes in liquidity[31]. - Cash and cash equivalents at the end of the period totaled ¥150,279,803.57, compared to ¥136,802,130.75 at the end of the previous period[49]. Operating Costs and Expenses - Operating costs increased by 71.65% to ¥416,003,835.18, also influenced by the low business volume base from the previous year[19]. - Total operating expenses rose to ¥164,968,462.43, compared to ¥122,472,897.22 in the previous period, reflecting increased costs[44]. - Research and development expenses rose by 93.35% to ¥6,427,728.07, mainly due to increased material costs for R&D[19]. - The company incurred R&D expenses of ¥2,687,178.58, which is a 86.8% increase from ¥1,437,669.67 in the previous period, indicating a focus on innovation[44]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 28,724[12]. - The largest shareholder, Western Gain Fund, held 25.06% of the shares, amounting to 180,429,093 shares[12]. Compliance and Reporting - The company reported no significant non-compliance issues or overdue commitments during the reporting period[21]. - The company's first quarter report is unaudited[61].

Financial Performance - Net profit attributable to shareholders increased by 549.53% to CNY 13,069,573.30 for the current period[7] - Operating revenue rose by 21.02% to CNY 444,598,867.68 for the current period[7] - Basic earnings per share increased by 550.00% to CNY 0.0182[7] - Net cash flow from operating activities increased by 80.99% to CNY 69,141,994.09[7] - The weighted average return on equity was 1.23%, up from 1.04%[7] - Total operating revenue for Q3 2020 reached CNY 444.60 million, an increase of 21.0% compared to CNY 367.39 million in Q3 2019[44] - Net profit for Q3 2020 was CNY 13.15 million, a significant increase from CNY 1.83 million in Q3 2019, representing a growth of 617.5%[46] - Basic and diluted earnings per share for Q3 2020 were CNY 0.0182, compared to CNY 0.0028 in Q3 2019[47] - The net profit for the current period was ¥503,284.17, a significant recovery from a net loss of ¥6,149,991.03 in the previous period[50] - The operating profit improved to ¥1,260,061.06 from a loss of ¥5,943,894.04 in the previous period, indicating a turnaround in profitability[48] - The total comprehensive income for the current period was ¥503,284.17, compared to a comprehensive loss of ¥6,149,991.03 in the previous period[50] - The net profit for the third quarter of 2020 was CNY 1,268,325.36, a significant recovery from a net loss of CNY 6,028,670.93 in the same period last year, marking a turnaround of over 120%[57] - Operating profit reached CNY 1,744,425.32, compared to an operating loss of CNY 6,291,014.68 in the previous year, indicating a substantial improvement[57] Assets and Liabilities - Total assets increased by 2.05% to CNY 1,930,730,277.77 compared to the end of the previous year[7] - The company's total current assets reached CNY 1,263,836,446.70, up from CNY 1,195,106,844.40 at the end of 2019, reflecting a growth of approximately 5.4%[35] - The total liabilities of the company were CNY 843,161,731.68, compared to CNY 829,059,571.43 at the end of 2019, representing a slight increase of about 1.4%[37] - The total assets of the company as of January 1, 2020, were ¥1.89 billion, with current assets accounting for ¥1.20 billion[68] - The total liabilities were reported at ¥829.06 million, with current liabilities comprising ¥802.86 million[70] - The company's equity attributable to shareholders was ¥1.04 billion, reflecting a stable position compared to the previous year[70] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 32,991[11] - The top shareholder, Western Gain Fund, holds 25.06% of the shares, totaling 180,429,093 shares[11] - The company’s major shareholder, Jiang Jiuming, had 30 million shares auctioned due to failure to fulfill financial obligations[19] - The court ruled that Jiang Jiuming must fulfill monetary obligations related to stock repurchase agreements[18] Financial Expenses and Taxation - Financial expenses rose by 138.22% to CNY 28,665,339.25 due to significant exchange losses[16] - Income tax expenses increased by 558.82% to CNY 5,116,844.19, driven by higher profits[16] - The company reported a decrease in financial expenses to CNY 19,813,745.02 from CNY 13,103,779.59, primarily due to lower interest expenses[57] - The company’s financial expenses increased significantly to CNY 16.90 million from CNY 2.17 million in the previous year, indicating a rise of 676.5%[44] Cash Flow and Investments - The cash flow from operating activities generated a net cash inflow of CNY 25,134,844.16, slightly higher than CNY 24,453,597.30 in the same quarter last year[61] - The company experienced a net cash outflow from investing activities of CNY 14,396,725.91, an improvement from a net outflow of CNY 23,473,583.35 in the previous year, indicating better investment management[61] - The company reported a cash outflow of ¥382.65 million from financing activities, down from ¥415.60 million in the previous period[65] Research and Development - The company reported a decrease in research and development expenses to CNY 10.16 million from CNY 13.12 million in the previous year, a reduction of 22.5%[44] - Research and development expenses decreased to ¥6,349,579.81 from ¥7,499,208.87, reflecting a 15.3% reduction[48] - Research and development expenses increased to CNY 15,495,767.67, up from CNY 14,862,410.01, showing a commitment to innovation and product development[57] Compliance and Legal Matters - The company has no securities or derivative investments during the reporting period[25][26] - There were no overdue commitments from the actual controller, shareholders, or related parties during the reporting period[24] - The company has disclosed all relevant announcements regarding major shareholder legal issues on the official information platform[21] - The company did not engage in any external guarantees that violated regulations during the reporting period[28] - The third quarter report has not been audited[77]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥819,424,339.15, a decrease of 6.95% compared to ¥880,637,624.56 in the same period last year[17]. - Net profit attributable to shareholders increased by 84.84% to ¥11,473,274.75, up from ¥6,207,116.28 in the previous year[18]. - The net profit after deducting non-recurring gains and losses rose by 170.54% to ¥7,945,951.37, compared to ¥2,937,047.80 in the same period last year[18]. - The basic earnings per share increased by 84.88% to ¥0.0159, compared to ¥0.0086 in the previous year[18]. - The gross profit margin for the main business increased by 0.77 percentage points compared to the previous year, despite a decline in sales prices[36]. - The total comprehensive income for the first half of 2020 was CNY 12,242,531.50, compared to CNY 6,765,018.22 in the same period last year[141]. - The total profit for the first half of 2020 was CNY 900,048.46, a significant increase from CNY 142,729.53 in the same period of 2019, representing a growth of approximately 530.5%[144]. - The net profit for the first half of 2020 reached CNY 765,041.19, compared to CNY 121,320.10 in the first half of 2019, marking an increase of about 530.5%[144]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,888,917,731.04, a slight decrease of 0.16% from ¥1,892,011,717.91 at the end of the previous year[18]. - The company's total liabilities decreased to CNY 813,728,861.02 from CNY 829,059,571.43, a decline of approximately 1.8%[132]. - The company's total assets as of June 30, 2020, were CNY 1,888,917,731.04, slightly down from CNY 1,892,011,717.91 as of December 31, 2019[132]. - The total equity attributable to shareholders increased to CNY 1,056,667,440.71 from CNY 1,044,728,598.91, an increase of about 1.1%[132]. - The company's cash and cash equivalents decreased to CNY 132,864,240.91 from CNY 179,184,118.80, a decline of about 26.0%[129]. - Total liabilities as of June 30, 2020, were CNY 814,806,749.28, slightly up from CNY 809,720,655.48 at the end of 2019[137]. Cash Flow - The net cash flow from operating activities was negative at -¥44,007,149.93, worsening from -¥13,747,937.74 in the previous year, a decline of 220.10%[18]. - Cash inflows from operating activities totaled CNY 511,465,113.35 in the first half of 2020, down from CNY 549,714,942.83 in the first half of 2019, a decrease of approximately 7%[146]. - The net cash flow from financing activities was CNY 6,783,697.11 in the first half of 2020, compared to CNY 2,461,795.08 in the same period of 2019, indicating a growth of approximately 175.5%[148]. - The company reported a decrease in cash outflows from operating activities, totaling CNY 555,472,263.28 in the first half of 2020, compared to CNY 563,462,880.57 in the same period of 2019, a reduction of approximately 1.6%[147]. Research and Development - Research and development expenses increased by 11.23% to CNY 14.25 million compared to the same period last year[41]. - Research and development expenses for the first half of 2020 were CNY 14,254,759.59, an increase from CNY 12,815,398.77 in the first half of 2019[138]. - The company has developed 21 national patents in material technology and collaborates with several leading universities and research institutions[29]. - The company has a strong R&D capability, allowing for rapid design and production of differentiated fan blades to meet customer demands[31]. Business Operations - The company is a leading manufacturer of plastic air conditioning fan blades, with a complete industrial chain from plastic modification to intelligent manufacturing[24]. - The company focuses on high-performance functional materials, including lightweight foamed materials and thermal insulation aerogels, enhancing its product offerings[29]. - The company is expanding into high-profit growth areas such as automotive components and smart home products, diversifying its business[31]. - The company maintains strong relationships with major domestic and international air conditioning manufacturers, ensuring stable customer partnerships[30]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 37,285[110]. - The largest shareholder, West China Li De Fund, held 25.06% of the shares, amounting to 180,429,093 shares[110]. - The total number of shares held by the top ten shareholders includes 169,374,660 shares held by Jiang Jiuming, which is the largest single holding[112]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[113]. Corporate Governance - The company did not engage in any significant equity or non-equity investments during the reporting period[56]. - There were no major asset or equity disposals during the reporting period[62][63]. - The company did not implement any stock incentive plans or employee stock ownership plans during the reporting period[82]. - The company has not experienced any media controversies during the reporting period[78]. Risk Factors - The company faces risks including the impact of the pandemic, exchange rate fluctuations, and raw material price volatility[5]. - The company has established a price linkage mechanism with air conditioning manufacturers to manage raw material cost pressures[68]. - The company faces risks from the pandemic affecting customer orders, currency fluctuations, and raw material price volatility, and has strategies in place to mitigate these risks[68].