Financial Performance - The company's revenue for Q3 2021 reached ¥1,875,190,867.44, representing a 33.67% increase year-over-year[3] - Net profit attributable to shareholders was ¥247,608,872.89, a significant increase of 172.97% compared to the same period last year[3] - The net profit after deducting non-recurring gains and losses was ¥209,111,174.73, up 173.41% year-over-year[3] - The company achieved a net profit attributable to shareholders of 55,035.43 million RMB for the first nine months of 2021, representing a year-on-year increase of 116.61%[13] - In Q3 2021, the company reported a net profit attributable to shareholders of 24,760.89 million RMB, which is a 172.97% increase year-on-year[13] - Operating profit for the period was ¥624,138,884.81, up 97.5% from ¥316,156,885.97 year-over-year[19] - Net profit for Q3 2021 reached ¥554,576,679.53, a significant increase of 117.5% compared to ¥255,690,499.33 in Q3 2020[20] - Total comprehensive income for the period was ¥554,521,485.15, compared to ¥255,454,840.19 in Q3 2020, marking a growth of 117.5%[20] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,949,751,876.83, reflecting a 10.97% increase from the end of the previous year[3] - The company's equity attributable to shareholders increased by 15.90% to ¥4,668,416,191.65 compared to the end of the previous year[3] - The total assets increased to ¥5,949,751,876.83, representing a growth of 10.9% from ¥5,361,512,338.96 at the end of the previous year[18] - Non-current liabilities totaled ¥143,259,616.24, a decrease of 3.5% from ¥148,548,319.60 in the previous period[18] - The company's cash and cash equivalents were not explicitly stated, but the total liabilities decreased to ¥1,209,379,394.20 from ¥1,267,407,527.03, indicating improved liquidity[18] - Accounts receivable rose to 198,185,399.33 RMB as of September 30, 2021, compared to 121,013,395.95 RMB at the end of 2020[16] - The total current assets increased to 3,353,002,975.12 RMB as of September 30, 2021, from 2,980,458,463.26 RMB at the end of 2020[16] - The company reported a decrease in accounts payable to ¥510,146,144.48 from ¥629,366,994.16, indicating better management of liabilities[18] Cash Flow - The cash flow from operating activities for the year-to-date was ¥313,054,974.46, showing a 20.53% increase year-over-year[3] - Operating cash flow net amount was ¥313,054,974.46, an increase of 20.5% from ¥259,724,794.63 in the previous year[21] - Cash and cash equivalents at the end of the period stood at ¥1,776,778,234.06, up from ¥1,301,060,406.22 at the end of Q3 2020, representing a 36.5% increase[22] - Investment activities generated a net cash outflow of ¥96,700,247.05, compared to a net inflow of ¥14,220,561.09 in the same period last year[22] - Financing activities resulted in a net cash inflow of ¥148,631,291.48, down 60.8% from ¥378,878,931.16 in Q3 2020[22] Business Operations - The company reported a 63.77% increase in accounts receivable, primarily due to significant growth in lithium battery new energy business revenue[8] - The company’s investment income surged by 371.71% to ¥30,698,660.18, attributed to the transfer of equity in Shanghai New Tai Yongkang Health Technology Co., Ltd.[8] - The sales volume of special steel new materials reached 233,100 tons in the first nine months of 2021[13] - The lithium battery new energy business sold 8,158.4 tons of lithium carbonate during the same period[13] - The company completed the transfer of shares in Shanghai New Tai Yongkang Health Technology Co., Ltd., receiving the transfer payment as part of its strategic focus on "new materials + new energy" dual business development[14] - The company has successfully implemented its dual business strategy, leading to steady growth in performance[13] - The company plans to continue focusing on its core business areas to accelerate transformation and upgrading[14] - The company plans to expand its lithium battery production capacity with new projects, including a 20,000-ton battery-grade lithium carbonate project[8] Research and Development - Research and development expenses increased to ¥149,209,778.15, up 28.4% from ¥116,224,583.06, reflecting a commitment to innovation[19] Earnings Per Share - The basic earnings per share for the reporting period was ¥0.62, an increase of 148.00% compared to the same period last year[3] - Basic earnings per share increased to ¥1.38, compared to ¥0.71 in Q3 2020, reflecting a growth of 94.4%[20]

Financial Performance - The company's revenue for Q3 2021 reached ¥1,875,190,867.44, representing a 33.67% increase year-over-year[3] - Net profit attributable to shareholders for Q3 2021 was ¥247,608,872.89, a significant increase of 172.97% compared to the same period last year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥209,111,174.73, up 173.41% year-over-year[3] - The net profit for the first nine months of 2021 was ¥550,354,317.65, a 116.61% increase compared to the same period in 2020, driven by strong sales in lithium battery new energy products[8] - For Q3 2021, the special steel new materials business recorded a net profit of CNY 137.58 million, and the lithium battery new energy business generated a net profit of CNY 110.03 million, resulting in a total net profit of CNY 247.61 million, a year-on-year increase of 172.97%[13] - The net profit for Q3 2021 was CNY 554,576,679.53, a significant increase of 117.5% compared to CNY 255,690,499.33 in Q3 2020[20] - The net profit attributable to the parent company was CNY 550,354,317.65, up from CNY 254,080,431.32, reflecting a growth of 116.7% year-over-year[20] - Basic earnings per share increased to CNY 1.38 from CNY 0.71, representing a growth of 94.4%[20] - The total comprehensive income for the period was CNY 554,521,485.15, compared to CNY 255,454,840.19 in Q3 2020, reflecting an increase of 117.5%[20] Assets and Equity - The total assets at the end of Q3 2021 amounted to ¥5,949,751,876.83, reflecting a 10.97% increase from the end of the previous year[3] - The company's equity attributable to shareholders increased to ¥4,668,416,191.65, a rise of 15.90% compared to the previous year[3] - As of September 30, 2021, the company's total current assets amounted to CNY 3.35 billion, up from CNY 2.98 billion at the end of 2020[16] - The company's equity attributable to shareholders rose to CNY 4,668,416,191.65, compared to CNY 4,027,802,074.28, reflecting a growth of 15.9%[18] Cash Flow - The cash flow from operating activities for the year-to-date period was ¥313,054,974.46, showing a 20.53% increase year-over-year[3] - Cash flow from operating activities was CNY 313,054,974.46, compared to CNY 259,724,794.63 in the same period last year, marking an increase of 20.5%[21] - Total cash inflow from operating activities reached CNY 4,091,651,289.47, up from CNY 3,182,243,975.32, indicating a growth of 28.6%[21] - Cash flow from investing activities showed a net outflow of CNY 96,700,247.05, a decrease from a net inflow of CNY 14,220,561.09 in the previous year[22] - Cash flow from financing activities generated a net inflow of CNY 148,631,291.48, down from CNY 378,878,931.16 in the same quarter last year[22] - The cash and cash equivalents at the end of the period amounted to CNY 1,776,778,234.06, up from CNY 1,301,060,406.22 at the end of Q3 2020[22] Business Operations - The company reported a significant increase in accounts receivable by 63.77% due to the substantial growth in lithium battery new energy business revenue[8] - The company has invested in several projects, including a lithium carbonate project and a high-pressure common rail project, leading to a 309.21% increase in construction in progress[8] - The company's dual business strategy of "new materials + new energy" is progressing smoothly, with a significant increase in profitability from the lithium battery new energy sector, contributing to a total net profit of CNY 550.35 million, a year-on-year increase of 116.61%[13] - In the first three quarters of 2021, the special steel new materials business achieved a product sales volume of 233,100 tons, while the lithium battery new energy business sold 8,158.4 tons of lithium carbonate[13] Shareholder Information - The top ten shareholders hold a combined 61.34% of the company's shares, with the largest shareholder, Gao Xingjiang, holding 37.74%[11] - The company has a total of 24,467 common shareholders as of the reporting period[11] Research and Development - Research and development expenses for the quarter amounted to CNY 149,209,778.15, an increase of 28.4% from CNY 116,224,583.06 in the previous year[19] Liabilities and Other Financial Metrics - The company's cash and cash equivalents were not explicitly stated, but the total liabilities decreased to CNY 1,209,379,394.20 from CNY 1,267,407,527.03, a reduction of 4.6%[18] - The net profit margin improved significantly, with the total profit reaching CNY 622,876,769.86, compared to CNY 313,608,039.33, an increase of 98.7%[19] - The company reported a decrease in accounts payable to CNY 510,146,144.48 from CNY 629,366,994.16, a decline of 18.9%[18] - Deferred income tax assets increased to CNY 36,421,959.27 from CNY 7,718,100.02, a substantial rise of 372.5%[18] Share Transfer and Strategic Divestment - The company completed the transfer of shares in Shanghai New Tai Yongkang Health Technology Co., Ltd., aligning with its focus on the dual business strategy[14] - The company has received the share transfer payment as of the reporting period, indicating successful execution of its strategic divestment[14] Other Financial Highlights - The total revenue for the third quarter of 2021 reached CNY 4,922,194,175.01, a significant increase of 35.3% compared to CNY 3,636,883,927.71 in the same period last year[19] - The operating profit for the period was CNY 624,138,884.81, up from CNY 316,156,885.97, reflecting a growth of 97.4% year-over-year[19] - Non-current assets totaled CNY 2,596,748,901.71, up from CNY 2,381,053,875.70, indicating an increase of 9.0%[18] - The company did not require adjustments to the balance sheet for the new leasing standards as there were no significant long-term leases at the beginning of the year[23]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 3,047,003,307.57, representing a 36.39% increase compared to CNY 2,234,044,788.44 in the same period last year[12]. - The net profit attributable to shareholders of the listed company reached CNY 302,745,444.76, an increase of 85.31% from CNY 163,372,167.15 in the previous year[12]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 242,950,725.58, reflecting a significant increase of 136.31% compared to CNY 102,808,826.69 in the same period last year[12]. - The basic earnings per share for the reporting period was CNY 0.76, up 68.89% from CNY 0.45 in the previous year[12]. - The total assets at the end of the reporting period amounted to CNY 5,588,350,964.30, a 4.23% increase from CNY 5,361,512,338.96 at the end of the previous year[12]. - The net assets attributable to shareholders of the listed company increased by 9.12% to CNY 4,394,949,142.10 from CNY 4,027,802,074.28 at the end of the previous year[12]. - The net cash flow from operating activities was CNY 120,447,204.52, showing a decrease of 45.76% compared to CNY 222,047,589.90 in the same period last year[12]. Revenue Breakdown - The special steel new materials business generated revenue of 2,662.33 million CNY, with a net profit of 194.73 million CNY[21]. - The lithium battery new energy business realized revenue of 384.67 million CNY, contributing 35.68% to the company's half-year performance[26]. - The company sold 5,448 tons of battery-grade lithium carbonate during the reporting period[26]. - Revenue from the black metal smelting and rolling industry was ¥2,662,333,033.06, accounting for 87.38% of total revenue, with a year-on-year growth of 23.80%[43]. - Lithium mining and lithium salt manufacturing revenue surged to ¥384,670,274.51, a remarkable increase of 360.55% year-on-year, now representing 12.62% of total revenue[43]. Research and Development - The company is focusing on R&D for new products and technologies, including the development of a full series of valve steel grades[22]. - The company's R&D investment increased by 43.03% to ¥94,611,178.52, reflecting a commitment to enhancing product development[40]. - The company has established a strong R&D platform with 86 patents related to stainless steel, including 27 invention patents, showcasing its technological innovation capabilities[29]. Market and Competitive Position - The company operates in the Yangtze River Delta region, which has a high demand for stainless steel products, providing a favorable market environment for growth[34]. - The company is enhancing its market competitiveness through the construction of a second-phase project for 20,000 tons/year of battery-grade lithium carbonate[26]. - The company has developed over 200 steel grades, allowing for customized production to meet diverse customer needs[27]. Environmental Compliance - The company strictly adheres to environmental protection laws and regulations, ensuring that pollutant emissions comply with national and local standards[69]. - Total emissions of particulate matter were 15.141 tons, significantly below the approved limit of 48.739 tons per annum[68]. - Nitrogen oxides emissions totaled 7.151 tons, well under the approved limit of 42.228 tons per annum[68]. - The company has established comprehensive pollution prevention facilities across its production processes, including dust removal and wastewater treatment systems[69]. Shareholder Information - The total number of shares increased from 393,738,756 to 405,950,150, reflecting an increase of 12,211,394 shares due to the conversion of convertible bonds[100]. - The largest shareholder, Gao Xingjiang, holds 38.49% of the shares, totaling 156,234,300 shares[106]. - The company has a total of 39,058,575 shares under pledge by Gao Xingjiang[106]. - The report indicates that there were no new strategic investors or significant changes in shareholder relationships[105]. Cash Flow and Investments - The company reported a significant increase in accounts receivable to ¥183,899,164.82, up from ¥121,013,395.95, primarily due to substantial growth in revenue from new energy business[47]. - Inventory levels rose to ¥669,917,012.94, reflecting an increase of 20.27% year-on-year, attributed to higher raw material procurement due to increased orders[47]. - The company reported a net cash outflow from investment activities of CNY 70,797,632.15, contrasting with a net inflow of CNY 8,333,433.23 in the first half of 2020[123]. Financial Instruments and Accounting Policies - The company recognizes revenue based on the progress of performance obligations, confirming revenue at a point in time when control of goods is transferred to the customer[187]. - Financial assets are classified into three categories upon initial recognition: measured at amortized cost, measured at fair value with changes recognized in other comprehensive income, and measured at fair value with changes recognized in profit or loss[144]. - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired in a business combination[144]. Future Outlook and Strategic Initiatives - The company plans to invest in multiple projects, including a 20,000-ton automotive high-pressure common rail project and a 300,000-ton lithium ore technical renovation project, to enhance its core competitiveness[61]. - The company is actively monitoring macroeconomic trends to adjust its development strategy in response to potential economic fluctuations[57]. - The company faces risks related to market competition and potential price declines in the lithium battery materials sector, necessitating enhanced cost management and technological development[60].

Financial Performance - The company's operating revenue for Q1 2021 was ¥1,354,267,795.55, representing a 47.38% increase compared to ¥918,920,579.13 in the same period last year[3] - The net profit attributable to shareholders for Q1 2021 was ¥124,113,903.15, a 67.57% increase from ¥74,065,140.39 in the previous year[3] - Basic earnings per share increased to ¥0.31, up 47.62% from ¥0.21 in the same period last year[3] - Total operating revenue for Q1 2021 reached ¥1,354,267,795.55, a significant increase of 47.4% compared to ¥918,920,579.13 in the same period last year[33] - Net profit for Q1 2021 was ¥124,419,638.32, representing a 68.7% increase from ¥73,766,581.37 in Q1 2020[34] - The total comprehensive income for Q1 2021 was ¥124,485,935.51, compared to ¥73,922,287.51 in the previous year, indicating a growth of 68.3%[34] - Operating profit for Q1 2021 was ¥142,312,861.77, an increase of 50.8% from ¥94,364,538.20 in Q1 2020[33] - The company reported a profit margin of approximately 9.2% for Q1 2021, compared to 8.0% in Q1 2020[34] Assets and Liabilities - The total assets at the end of the reporting period were ¥5,580,876,178.90, reflecting a 4.09% increase from ¥5,361,512,338.96 at the end of the previous year[3] - The net assets attributable to shareholders increased by 7.45% to ¥4,327,905,846.77 from ¥4,027,802,074.28 at the end of the previous year[3] - The company's total liabilities decreased to CNY 827,927,847.08 from CNY 979,567,332.50, representing a reduction of about 15.5%[31] - The total equity attributable to shareholders increased to CNY 4,373,717,109.47, up from CNY 4,116,128,857.20, indicating a growth of approximately 6.3%[31] Cash Flow - The company reported a significant decrease in net cash flow from operating activities, with a net outflow of ¥207,690,807.72 compared to a net inflow of ¥6,332,028.05 in the same period last year, marking a decline of 3,380.00%[3] - The total cash inflow from operating activities is 1,098,215,458.18, up from 865,914,287.63, indicating a growth of about 27%[38] - The cash outflow from operating activities is 1,305,906,265.90, compared to 859,582,259.58, resulting in a net cash flow from operating activities of -207,690,807.72, a decline from 6,332,028.05 in the previous period[38] - The ending balance of cash and cash equivalents is 1,486,802,441.39, compared to 773,363,981.28, which is an increase of approximately 92%[39] Investments and Projects - Investment in a 2GWh/a ultra-wide temperature range lithium-ion battery project with a total investment of approximately ¥1 billion[12] - Construction of a 20,000-ton battery-grade lithium carbonate project is underway, with preliminary work completed[14] - The company is actively investing in lithium battery projects, focusing on product specifics and application areas[24] Shareholder Information - The top shareholder, Gao Xingjiang, holds 38.49% of the shares, with a total of 156,234,300 shares[6] - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[8] Research and Development - Research and development expenses increased by 37.68% to ¥43.54 million, reflecting a recovery from pandemic-related reductions[10] - R&D expenses increased to ¥43,543,875.85, a rise of 37.7% compared to ¥31,627,352.53 in the previous year[33] Other Financial Metrics - The company received government subsidies amounting to ¥43,338,464.03, primarily related to recycling of renewable resources[4] - The company reported a net profit of 1,022.12 million RMB from the raised funds during the first quarter of 2021, with a remaining balance of 11,443.17 million RMB as of March 31, 2021[21] - The company engaged in derivative investments, including forward foreign exchange contracts, with a total initial investment amount of USD 694.00 million and EUR 455.00 million, resulting in a total actual profit of 163.68 million RMB during the reporting period[19] Accounting and Compliance - There were no non-recurring gains or losses classified as regular gains or losses during the reporting period[5] - The company has no significant changes in accounting policies or principles regarding derivative investments compared to the previous reporting period[20] - The company has no violations regarding external guarantees during the reporting period[23] - The Q1 2021 report was not audited[42]

Financial Performance - The company's operating revenue for 2020 was ¥4,973,126,242.49, an increase of 1.30% compared to the previous year[12]. - The net profit attributable to shareholders for 2020 was ¥257,996,978.72, a decrease of 24.91% year-on-year[12]. - The basic earnings per share for 2020 was ¥0.72, down 24.21% from ¥1.08 in 2019[12]. - The total assets at the end of 2020 were ¥5,361,512,338.96, reflecting an 18.04% increase from the previous year[12]. - The net cash flow from operating activities for 2020 was ¥549,000,414.88, an increase of 59.03% compared to 2019[12]. - The total operating revenue for 2020 was 497,312.62 million yuan, reflecting a year-on-year growth of 1.30%[48]. - The net profit attributable to shareholders was 25,799.70 million yuan, a year-on-year decrease of 24.91% due to asset impairment losses and high base effects from the previous year[48]. - The black metal smelting and rolling industry contributed ¥4.67 billion, accounting for 93.83% of total revenue, with a year-on-year decrease of 4.65%[50]. - Lithium mining and lithium salt manufacturing revenue surged to ¥307 million, representing 6.17% of total revenue, with a remarkable year-on-year increase of 1,873.28%[50]. Dividend Policy - The company reported a cash dividend of 3.1 yuan per 10 shares (including tax) to all shareholders, with no bonus shares issued[2]. - The cash dividend distribution policy states that at least 20% of the distributable profit should be allocated as cash dividends if there are no significant capital expenditures[107]. - The company emphasizes a stable and continuous profit distribution policy, prioritizing cash dividends while considering the long-term development and sustainability[107]. - The company has a three-year dividend return plan (2019-2021) that focuses on reasonable returns to investors and considers the opinions of minority shareholders[106]. - The company has not proposed any stock dividends for the 2020 fiscal year, focusing solely on cash dividends[111]. - The company's cash dividend total for 2020 accounted for 100% of the profit distribution total, indicating a strong commitment to shareholder returns[111]. Business Operations - The company has maintained its main business operations without any changes since its listing[9]. - The company focuses on new materials and lithium battery new energy materials, with production processes including mining, refining, and manufacturing[19]. - The company employs a "sales-driven production" model to provide customized services based on customer needs[20]. - The company has established a stable product supply chain targeting leading enterprises in the special steel new materials sector, effectively meeting customer needs and creating value[21]. - The company has signed long-term purchase agreements with some customers, ensuring stable pricing and supply cycles[23]. Market Position and Strategy - The company is recognized as a leading enterprise in the lithium extraction industry, with a complete lithium salt industrial chain and mature lithium extraction technology[26]. - The company’s market share in the domestic stainless steel long product sector remains among the top two, reflecting its strong industry position[25]. - The company has enhanced its core competitiveness through accelerated development of new products and markets in the special steel new materials business, leading to steady growth in production and sales[29]. - The company has over 200 steel grades and offers personalized production to meet diverse customer needs, resulting in increased customer satisfaction[30]. - The company is focusing on expanding its market presence and enhancing production capacity, particularly in the lithium carbonate sector, despite facing challenges with market prices[71]. Research and Development - The company has invested significantly in R&D, holding 88 patents related to stainless steel, including 25 invention patents, and has established various research platforms[31]. - The company’s R&D expenses amounted to ¥160,699,200.61, representing 3.23% of total revenue, a slight decrease of 1.04% compared to the previous year[61]. - The company successfully developed new products, including martensitic valve steel and nickel-based alloy valve steel, enhancing product quality and reducing production costs[61]. Environmental and Social Responsibility - The company has implemented a dual prevention mechanism for production safety, enhancing risk control and emergency response capabilities[149]. - The company donated approximately 2.25 million RMB in pandemic prevention materials and funds during the reporting period, reflecting its commitment to social responsibility[149]. - The company has invested in environmental protection facilities to ensure compliance with national and local standards, with no major environmental pollution incidents reported[154]. - The company utilizes clean energy natural gas for all heating furnaces, ensuring that pollutant discharge meets regulatory standards[155]. - The company has achieved a wastewater recycling rate of over 97% in its hot rolling process, minimizing environmental impact[154]. Corporate Governance - The company has established a special account for the raised funds, ensuring they are used in accordance with legal and regulatory standards[114]. - The company has committed to compensating investors for any losses caused by false statements in the prospectus[113]. - The company will continue to fulfill all commitments made during the issuance and listing process, accepting supervision from regulatory bodies and investors[113]. - The company has maintained a clean integrity status, with no significant debts or court judgments unfulfilled during the reporting period[127]. - The company has not experienced any penalties or rectification situations during the reporting period[126]. Future Outlook - The company aims to enhance production efficiency and achieve a profit growth target in the lithium battery new energy sector, with a focus on the annual production of 20,000 tons of battery-grade lithium carbonate[89]. - The company plans to accelerate the construction of its 20,000 tons battery-grade lithium carbonate project, with the first production line expected to be operational by Q3 2021[93]. - The company is committed to enhancing its operational efficiency and expanding its market presence in the lithium battery sector[105].

Financial Performance - Net profit attributable to shareholders decreased by 5.97% to CNY 90,708,264.17 for the reporting period[9] - Operating income for the period was CNY 1,402,839,139.27, reflecting a growth of 15.41% year-on-year[9] - Basic earnings per share decreased by 7.41% to CNY 0.25[9] - The weighted average return on equity was 2.54%, down by 0.33% compared to the previous year[9] - The net profit after deducting non-recurring gains and losses increased by 33.36% to CNY 76,481,897.86[9] - The company's net profit for the period showed a positive trend, with retained earnings increasing to CNY 1,944,040,970.55 from CNY 1,854,120,539.23, a growth of approximately 4.8%[41] - Net profit for the current period was ¥91,808,792.52, a decrease of 4.9% from ¥96,484,476.15 in the previous period[47] - The total comprehensive income for the current period was ¥91,426,017.07, compared to ¥96,770,966.05 in the previous period, showing a decrease of 5.5%[47] - Net profit for the current period is ¥255,690,499.33, down 29.2% from ¥360,947,838.05 in the previous period[54] - Comprehensive income for the current period is ¥255,454,840.19, down 29.3% from ¥361,252,724.03 in the previous period[54] Assets and Liabilities - Total assets increased by 15.46% to CNY 5,244,147,707.41 compared to the end of the previous year[9] - The total number of shareholders at the end of the reporting period was 19,796[13] - Cash and cash equivalents increased by 72.72% to ¥651,851,230.65 due to funds raised from convertible bonds[18] - The company's total assets increased significantly, with monetary funds rising by 99.91% to ¥1,304,270,406.22[18] - Total current assets reached RMB 2,909,290,053.48, compared to RMB 2,161,608,417.00 at the end of 2019, indicating a growth of about 34.5%[39] - The total liabilities amounted to CNY 1,558,518,968.12, compared to CNY 1,085,007,826.80, reflecting an increase of about 43.5%[41] - Current liabilities rose to CNY 866,590,417.26, compared to CNY 776,791,243.98, marking an increase of about 11.5%[41] - Long-term borrowings were reported at CNY 561,420,765.64, with no long-term borrowings recorded in the previous period[41] - The company reported fixed assets valued at CNY 980,949,534.02 and construction in progress at CNY 759,293,804.00[65] Cash Flow - The net cash flow from operating activities dropped significantly by 81.61% to CNY 37,677,204.73[9] - The net cash flow from investment activities decreased by 91.15% to ¥14,220,561.09, mainly due to the absence of compensation received from asset disposals[18] - The net cash flow from financing activities was ¥378,878,931.16, compared to a negative cash flow of ¥147,475,919.36 in the previous period[61] - Total cash inflow from operating activities was ¥3,182,243,975.32, down 28.2% from ¥4,431,499,721.82 in the previous period[59] - Cash outflow from operating activities totaled ¥2,922,519,180.69, a decrease of 28.2% compared to ¥4,068,778,417.62 in the previous period[59] Shareholder Information - The largest shareholder, Gao Xingjiang, holds 42.80% of the shares, amounting to 156,234,300 shares[13] - The company completed the first grant registration of the 2020 restricted stock incentive plan, granting 5.03 million shares[19] Government Support - The company received government subsidies amounting to CNY 96,262,788.61 related to resource recovery[10] Research and Development - Research and development expenses increased to ¥50,076,362.28, compared to ¥45,531,304.87 in the previous period, reflecting a growth of 9.9%[46] - Research and development expenses for the current period are ¥116,224,583.06, a slight decrease of 4.5% from ¥121,320,411.42[53] Future Plans - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[41] - The company plans to continue focusing on market expansion and new product development to drive future growth[47] Accounting and Compliance - The company has not reported any significant changes in its accounting policies regarding derivative investments compared to the previous reporting period[31] - There were no violations regarding external guarantees or non-operating fund occupation by controlling shareholders during the reporting period[33] - The company is implementing new revenue and leasing standards starting in 2020, which may impact future financial reporting[70]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 2,234,044,788.44, a decrease of 9.98% compared to CNY 2,481,767,438.92 in the same period last year[11]. - The net profit attributable to shareholders was CNY 163,372,167.15, down 38.29% from CNY 264,745,491.47 in the previous year[11]. - The basic earnings per share decreased by 39.19% to CNY 0.45 from CNY 0.74 in the same period last year[11]. - The total operating revenue for the first half of 2020 was CNY 2,234,044,788.44, a decrease of 9.98% compared to the previous year[42]. - The net cash flow from operating activities was CNY 222,047,589.90, an increase of 40.67% compared to CNY 157,855,117.97 in the same period last year[11]. - The total comprehensive income for the first half of 2020 was CNY 164,028,823.12, down from CNY 264,481,757.98 in the same period of 2019[142]. - The company reported a total investment of 0.00 yuan during the reporting period, a decrease of 100.00% compared to 18,000,000.00 yuan in the same period last year[51]. - The company reported a loss of 6,948,918.59 yuan from the battery-grade lithium carbonate project due to lower capacity utilization and sales affected by the COVID-19 pandemic[53]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 4,918,596,346.11, an increase of 8.29% from CNY 4,542,063,538.36 at the end of the previous year[11]. - Total liabilities amounted to CNY 1,328,317,008.95, compared to CNY 1,085,007,826.80, marking an increase of around 22.5%[138]. - The company's total equity increased to CNY 3,590,279,337.16 from CNY 3,457,055,711.56, reflecting a growth of approximately 3.9%[138]. - Cash and cash equivalents at the end of the reporting period amounted to CNY 1,117,864,278.66, representing 22.73% of total assets, an increase from 15.80% in the previous year[48]. - The company's inventory increased to CNY 519,501,744.43, accounting for 10.56% of total assets, due to an increase in orders for special steel new materials and lithium battery new energy inventory[48]. Research and Development - The company has committed to ongoing research and development of new products and technologies, although specific details were not disclosed in the report[3]. - The company invests significantly in R&D, with 84 patents in stainless steel technology, including 25 invention patents, enhancing its production capabilities[24]. - Research and development expenses for the first half of 2020 were CNY 66,148,220.78, down from CNY 75,789,106.55 in the previous year[141]. - The company plans to enhance its technological innovation and product development capabilities to maintain its competitive edge in the market[70]. Market and Sales Strategy - The company employs a "sales-driven production" model, ensuring efficient production aligned with customer demand[16]. - The sales strategy focuses on leading enterprises in the lithium battery new energy materials sector, successfully establishing stable supply relationships with major clients[39]. - The company has established long-term contracts with key customers in the lithium battery sector, enhancing revenue stability[19]. - The company’s new product and market development in the new materials sector has accelerated, enhancing overall profitability[22]. Environmental and Compliance - The company has implemented effective pollution control measures, ensuring compliance with national standards and no major environmental issues reported during the period[97]. - The company has achieved certifications from multiple international quality and environmental standards, enhancing its competitive edge in the market[25]. - The company emphasizes a circular economy approach, utilizing recycled materials and clean energy to minimize environmental impact[27]. - The company has established a comprehensive environmental management system, ensuring the normal operation of pollution control facilities[97]. Corporate Governance and Shareholder Information - The company has not distributed cash dividends or bonus shares for the half-year period, indicating a focus on reinvestment[73]. - The largest shareholder, Gao Xingjiang, holds 43.40% of the shares, totaling 156,234,300 shares, with a decrease of 6,750,000 shares during the reporting period[110]. - The total number of common shareholders at the end of the reporting period was 19,794, with no significant changes in the number of shareholders[110]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[113]. Financial Instruments and Investments - The company issued 7 million convertible bonds with a total amount of RMB 700 million, net proceeds amounting to RMB 682.71 million after deducting related fees[102]. - The company has not engaged in any securities investments during the reporting period[55]. - The company has ongoing non-equity investments, including a 120,000 tons/year lithium ore efficient selection and comprehensive utilization project with a cumulative investment of 821,403,167.75 yuan[53]. Risk Management - The company faced risks as described in the report, with corresponding measures outlined for mitigation[3]. - The company is closely monitoring market trends and adjusting its strategies to mitigate risks associated with macroeconomic fluctuations and changes in industry policies[68]. - The company has established a technology innovation system to support ongoing product and technology advancements[69].

Financial Performance - The company reported a profit distribution plan of 4.56 CNY per 10 shares (including tax) based on a total of 360,000,000 shares[4]. - The company's operating revenue for 2019 was ¥4,909,422,346.31, representing a 2.40% increase compared to ¥4,794,349,604.01 in 2018[12]. - The net profit attributable to shareholders for 2019 was ¥343,567,828.19, a decrease of 11.29% from ¥387,296,112.91 in 2018[12]. - The net profit after deducting non-recurring gains and losses was ¥161,317,041.48, down 47.39% from ¥306,608,180.98 in 2018[12]. - The company's cash flow from operating activities for 2019 was ¥345,222,346.41, a decline of 31.87% compared to ¥506,730,134.35 in 2018[12]. - The total assets at the end of 2019 were ¥4,542,063,538.36, an increase of 4.56% from ¥4,344,057,084.58 at the end of 2018[12]. - The net assets attributable to shareholders at the end of 2019 were ¥3,390,557,783.31, a slight decrease of 0.42% from ¥3,404,941,813.08 at the end of 2018[12]. - The company reported a significant non-recurring gain of ¥99,042,997.93 from the disposal of non-current assets in 2019[16]. - Government subsidies recognized in 2019 amounted to ¥131,987,831.82, compared to ¥128,529,288.02 in 2018[16]. - The company achieved operating revenue of RMB 4,909.42 million in 2019, representing a year-on-year growth of 2.40%[37]. - The net profit attributable to shareholders of the parent company was RMB 343.57 million, a decrease of 11.29% year-on-year[37]. Business Operations - The company has undergone a change in its business scope to include research, production, and sales of lithium-ion batteries, along with various metal materials and products[10]. - The company operates in stainless steel and lithium battery materials, with a focus on high-end industrial applications[18]. - The company has established a lithium battery new energy industry chain, with a mining scale of 1 million tons per year from the Huashan ceramic stone mine, ensuring a controlled economic resource of 45.073 million tons[21]. - The company’s lithium battery-grade carbonate products are primarily sold directly to ensure responsiveness to market demand and customer satisfaction[21]. - The company’s production model for lithium battery-grade carbonate combines planning and orders based on market demand, ensuring efficient production[21]. - The company has established long-term cooperative agreements with suppliers to secure raw materials for its lithium battery business, ensuring resource availability[21]. - The company’s stainless steel business benefits from favorable national policies aimed at promoting high-end stainless steel and special alloy market growth[22]. - The company has developed a proprietary stainless steel batching control software to optimize raw material procurement and cost control, enhancing competitiveness[20]. - The company has a market share that consistently ranks among the top two in the domestic market for stainless steel long products, with the production of duplex stainless steel bars being the highest in the country[23]. Research and Development - The company has a total of 77 patents related to stainless steel, including 25 invention patents, showcasing its strong R&D capabilities[28]. - The company has invested significantly in R&D, with a focus on technological innovation and process improvement, leading to breakthroughs in key technologies[28]. - The company has established various R&D platforms and continues to invest significantly in technology innovation and process improvement[62]. - The company has established a research and production team for lithium extraction, focusing on innovative technologies to improve lithium yield and reduce equipment maintenance costs[45]. - The company has developed core technologies for lithium extraction from lithium mica, aiming to reduce production costs and improve product quality through continuous R&D[96]. Market Strategy - The company aims to achieve a production capacity of 10,000 tons of battery-grade lithium carbonate and 1.2 million tons/year of lithium ore efficient selection and comprehensive utilization projects in 2020[91]. - The company plans to optimize product structure and increase the proportion of high-value-added products in the stainless steel sector, focusing on new markets and products[92]. - The company will implement smart manufacturing upgrades to enhance production efficiency and quality, aiming for a production capacity increase of 60,000 tons from the steelmaking plant[93]. - The company targets a 100% capital recovery rate and significant profit growth through improved product quality and cost reduction strategies[94]. - The company aims to accelerate market promotion of battery-grade lithium carbonate, targeting leading enterprises in new energy materials for expected benefits in 2020[98]. Shareholder Relations - The company has established a cash dividend policy, ensuring at least 20% of distributable profits are allocated to cash dividends if no major capital expenditures occur[107]. - The company’s dividend distribution policy prioritizes cash dividends, with a minimum of 80% for mature stages without major capital expenditures[109]. - For 2019, the cash dividend was reduced to RMB 4.56 per 10 shares, amounting to a total of RMB 16.416 million, which is 47.78% of the net profit attributable to shareholders[112][114]. - The cash dividend for 2019 represented 100% of the total profit distribution amount, indicating a commitment to shareholder returns[113]. - The company maintained a total of 36 million shares as the basis for dividend distribution over the past three years[111][113]. Corporate Governance - The company has not experienced any changes in its controlling shareholders since its listing[10]. - The company has a clear and transparent cash dividend policy, ensuring the protection of minority shareholders' rights[110]. - The board of directors considered various factors, including economic conditions and cash flow, before approving the 2019 dividend distribution plan[114]. - The company has not proposed any stock dividend or capital reserve transfer to increase share capital in the recent years[113]. - The company has committed to maintaining a minimum cash dividend ratio of 20% during significant capital expenditure phases[113]. Environmental and Social Responsibility - The company has invested in environmental protection measures, including a high-performance stainless steel continuous casting system project, adhering to national energy-saving and environmental protection standards[151]. - The company has received environmental impact approvals for its lithium battery projects from the Jiangxi Provincial Environmental Protection Department[151]. - The company has implemented strict pollution control measures, with total emissions of particulate matter at 47.584 tons, well below the permitted limit of 137.98 tons per year[155]. - The company has achieved a 97% recycling rate for cooling water in its hot rolling process, minimizing wastewater discharge[157]. - The company actively participates in social responsibility initiatives, including charitable projects and support for vulnerable groups[156]. Legal and Compliance - The company has ongoing litigation involving a contract dispute with Yongcheng Lithium Industry, with a claim amounting to 10,655.88 million CNY, which has not yet been adjudicated[131]. - The company has a financial loan dispute with Jiangxi Branch of Bank of Communications, with a judgment requiring repayment of 21,403.1 million CNY, and the bank holds priority rights over collateral[132]. - The company has no significant penalties or rectification issues reported during the period[133]. - The company has confirmed that all related party transactions were conducted at market prices without significant discrepancies[136]. Management and Personnel - The company has a total of 1,420 employees, including 927 production personnel, 30 sales personnel, 297 technical personnel, 27 financial personnel, and 139 administrative personnel[149]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 753.37 million[200]. - The highest remuneration was received by Qiu Jianrong, a director, totaling CNY 1.1029 million[198]. - The company emphasizes the importance of performance in determining the remuneration of its executives[197]. - The company has a total of 11 directors and supervisors, with varying ages and tenures, reflecting a diverse leadership team[198].

Financial Performance - Net profit attributable to shareholders decreased by 9.37% to CNY 96,472,414.99 for the reporting period[3] - Operating revenue for the period was CNY 1,215,549,578.97, reflecting a 0.61% increase year-on-year[3] - The net profit after deducting non-recurring gains and losses decreased by 20.63% to CNY 57,350,603.13[3] - The company's net profit for the year-to-date period was CNY 360,947,838.05, compared to CNY 329,169,642.30 in the previous year, showing an increase of about 9.7%[31] - The net profit for Q3 2019 was CNY 96,484,476.15, down from CNY 106,464,514.62 in Q3 2018, indicating a decrease of approximately 9.2%[28] - The net profit for Q3 2019 was CNY 94,815,839.35, down from CNY 106,885,833.32 in Q3 2018, indicating a decrease of about 11.5%[30] - The net profit attributable to the parent company for Q3 2019 was CNY 361,217,906.46, an increase from CNY 330,204,603.99 in Q3 2018, representing a growth of approximately 9.5%[32] Assets and Liabilities - Total assets increased by 4.65% to CNY 4,545,988,465.17 compared to the end of the previous year[3] - The total liabilities of the company increased to CNY 1,125,972,547.97 from CNY 929,680,667.61, which is an increase of about 21%[24] - The company's equity attributable to shareholders rose to CNY 3,410,851,381.72 from CNY 3,404,941,813.08, showing a slight increase of approximately 0.2%[24] - The total current liabilities decreased slightly to CNY 773,345,830.33 from CNY 775,812,869.73, indicating a decrease of approximately 0.3%[24] - Current liabilities reached CNY 775,812,869.73, while total liabilities were CNY 929,680,667.61[43] - Total liabilities amounted to CNY 564,133,697.19, with current liabilities at CNY 482,621,611.78[45] Cash Flow - The net cash flow from operating activities decreased by 16.76% to CNY 204,866,186.23[3] - Cash and cash equivalents increased by 85.26% to ¥819,071,062.93 from ¥442,114,749.13 due to the maturity of bank acceptance bills and bank wealth management products[13] - Cash inflow from financing activities totaled CNY 280,000,000.00, slightly down from CNY 288,000,000.00 in the previous period, a decrease of about 2.8%[38] - The net cash flow from financing activities was -CNY 388,162,033.09, worsening from -CNY 239,232,833.87 in the previous period, indicating a decline of approximately 62.2%[38] - The cash flow from operating activities for the period was CNY 362,721,304.20, compared to CNY 247,881,895.67 in Q3 2018, showing a significant increase of approximately 46.1%[35] Shareholder Information - The total number of shareholders at the end of the reporting period was 22,254, with the largest shareholder holding 52.40%[6] - The company's name changed from "永兴特钢" to "永兴材料" and the stock code remains 002756[14] Investment and Income - The company reported non-operating income of CNY 168,146,774.68, primarily from government subsidies and asset disposals[4] - The company received government subsidies amounting to CNY 105,150,264.49 related to resource recovery[4] - Investment income decreased by 38.91% to ¥9,859,790.77, mainly due to reduced returns from bank wealth management products and joint venture investments[13] - The company reported a decrease in investment income from CNY 22,308,412.32 in Q3 2018 to CNY 5,895,326.73 in Q3 2019, reflecting a decline of approximately 73.6%[33] Research and Development - Research and development expenses increased to CNY 45,531,304.87 from CNY 38,804,698.46, representing a growth of about 17.3% year-over-year[27] - Research and development expenses for the period amounted to CNY 120,110,642.54, an increase from CNY 111,031,313.50 in the previous year, indicating a growth of about 8.2%[33] Other Financial Metrics - The weighted average return on equity was 2.87%, a decrease of 0.36% compared to the previous year[3] - The basic earnings per share decreased by 10.00% to CNY 0.27[3] - Basic earnings per share for Q3 2019 were CNY 0.26, down from CNY 0.30 in Q3 2018, reflecting a decrease of approximately 13.3%[30] - The financial expenses for Q3 2019 were CNY -4,079,572.22, a significant improvement compared to CNY 1,339,295.88 in Q3 2018, indicating a reduction in financial costs[29]