上海纳尔实业股份有限公司 2020 年半年度报告全文 上海纳尔实业股份有限公司 2020 年半年度报告 2020 年 08 月 1 上海纳尔实业股份有限公司 2020 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的 真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和 连带的法律责任。 公司负责人游爱国、主管会计工作负责人游爱军及会计机构负责人(会计主 管人员)何贵财声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 （一）新冠疫情造成的经营和市场风险 2020 年公司经营及市场受到新冠疫情带来的巨大冲击，一季度的复工困难 导致客户订单的交付风险及客户服务和市场份额降低的风险，二季度大部分海 外市场及客户的经济活动停滞导致的货款及库存积压风险、以及公司收入及业 绩大幅下滑等风险；目前海外市场逐步回复但与往年同期对比仍有一定差距， 并且疫情对行业及产品变化可能带来不可确定风险，公司认识不足及应对不当 都会对长远发展带来较大风险。 （二）市场竞争加剧的风险 数码喷印材料行业具有较强的国际 ...

Financial Performance - The company's operating revenue for 2019 was ¥1,017,191,015.08, representing a 29.00% increase compared to ¥788,518,296.12 in 2018[18]. - The net profit attributable to shareholders for 2019 was ¥42,420,474.89, a decrease of 31.57% from ¥61,986,679.22 in 2018[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥35,702,918.63, down 33.59% from ¥53,759,967.59 in 2018[18]. - The basic earnings per share for 2019 was ¥0.300, a decline of 31.82% compared to ¥0.440 in 2018[18]. - The total assets at the end of 2019 were ¥1,082,228,876.93, an increase of 28.59% from ¥841,630,525.61 at the end of 2018[18]. - The net assets attributable to shareholders at the end of 2019 were ¥716,962,326.44, up 15.35% from ¥621,538,087.23 at the end of 2018[18]. - The net cash flow from operating activities for 2019 was ¥80,621,380.65, a decrease of 3.21% from ¥83,295,311.18 in 2018[18]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion RMB for the fiscal year 2019, representing a year-over-year growth of 15%[112]. Dividend Distribution - The company plans to distribute a cash dividend of ¥2 per 10 shares based on a total of 146,740,064 shares[5]. - The cash dividend represents 69.18% of the net profit attributable to ordinary shareholders for 2019, which was 42,420,474.89 yuan[101]. - The total distributable profit for the reporting period is 317,520,123.44 yuan, with the cash dividend accounting for 100% of the profit distribution[102]. - In 2018, the company distributed a cash dividend of 1 yuan per 10 shares, totaling 14,013,009.50 yuan, which was 22.61% of the net profit[101]. - The company has established a clear and stable profit distribution policy that prioritizes cash dividends when conditions allow[99]. Research and Development - The company has established a strong R&D capability, holding multiple core technologies such as vehicle wrap exhaust technology and high-efficiency punching mold technology, enhancing product quality and market application value[31]. - During the reporting period, the company added 4 new patents and its three-layer three-dimensional single-layer membrane product was recognized as a top 100 high-tech achievement transformation project in Shanghai[32]. - The company is committed to increasing R&D investment to adapt to future market demands and enhance product quality, particularly in the automotive protective film sector[85]. - Research and development efforts focused on two new product lines, with an investment of 100 million RMB allocated for innovation in technology[112]. Market Expansion and Strategy - The main business involves the research, production, and sales of digital printing materials, with products including vehicle wraps, single-layer membranes, and digital ink, primarily serving outdoor advertising and decorative fields[28]. - The company has expanded its market reach, covering over 20 provinces and municipalities in China and establishing a presence in dozens of countries globally[33]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[112]. - The company is focusing on cost control to maintain cash flow during economic downturns, emphasizing the elimination of unnecessary expenses[85]. Corporate Governance and Compliance - The company has established a comprehensive corporate governance structure to ensure fair, just, and open treatment of all shareholders, enhancing transparency and credibility[161]. - The company has implemented a "people-oriented" corporate culture, providing extensive training and development opportunities for employees to promote mutual growth[162]. - The company has confirmed that there were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[116]. - The company is committed to not providing financial assistance for stock options or restricted stock to incentive objects, ensuring compliance with regulations[115]. Shareholder Information - The largest shareholder, You Aiguo, holds 31.84% of the shares, with a total of 46,757,560 shares, while the second-largest shareholder, Wang Shuming, holds 16.70% with 24,533,880 shares[181]. - The company’s total number of shareholders at the end of the reporting period was 13,069[180]. - The total shares held by the chairman, You Aiguo, remained unchanged at 46,757,560 shares[192]. - The total shares held by the current general manager, Yang Jiantang, remained unchanged at 17,991,710 shares[192]. Investment and Financial Management - The company has made significant investments in digital management systems to enhance operational efficiency[42]. - The company engaged in wealth management, with a total of ¥1,024 million in entrusted financial management, including ¥289 million from raised funds and ¥735 million from self-owned funds[152]. - The total amount of structured deposits raised by the company in 2019 reached 97,400 million, with a total interest income of 282.39 million[158]. - The company has not made any significant changes to its financial forecasts for assets or projects during the reporting period[116]. Challenges and Future Outlook - The company is navigating challenges posed by the COVID-19 pandemic and the US-China trade war, focusing on long-term survival and competitiveness[89]. - The company provided a positive outlook for 2020, projecting a revenue growth of 20% driven by new product launches and market expansion strategies[112]. - Future guidance includes an expected EBITDA margin of 25% for 2020, up from 22% in 2019, indicating strong operational performance[112].

上海纳尔实业股份有限公司 2019 年年度报告全文 上海纳尔实业股份有限公司 2019 年年度报告 2020 年 04 月 1 上海纳尔实业股份有限公司 2019 年年度报告全文 第一节重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连 带的法律责任。 公司负责人游爱国、主管会计工作负责人游爱军及会计机构负责人(会计主 管人员)何贵财声明：保证年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投 资者的实质承诺，投资者及相关人士均应当对此保持足够的风险认识，并且应 当理解计划、预测与承诺之间的差异，敬请投资者注意投资风险。 无 公司经本次董事会审议通过的利润分配预案为：以 146,740,064 为基数，向 全体股东每 10 股派发现金红利 2 元（含税），送红股 0 股（含税），不以公积金 转增股本。 2 | 第一节重要提示、目录和释义 2 | | --- | | 第二节公司简介和主要财务指标 5 | | 第三节 ...

Financial Performance - The company's operating revenue for Q1 2020 was ¥212,144,512.84, representing a 15.58% increase compared to ¥183,552,680.78 in the same period last year[7] - The net profit attributable to shareholders was ¥8,317,912.00, a decrease of 19.97% from ¥10,393,967.91 in the previous year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥7,891,464.45, down 7.42% from ¥8,524,290.94 year-on-year[7] - The basic earnings per share decreased by 14.29% to ¥0.06 from ¥0.07 in the same period last year[7] - The diluted earnings per share also decreased by 14.29% to ¥0.06 from ¥0.07 year-on-year[7] - The weighted average return on equity was 1.15%, down from 1.66% in the previous year[7] - Sales revenue increased by 40.62% to ¥275,682,849.80, attributed to the merger with Shenzhen Moku[15] - The company reported a net profit of CNY 325,838,035.44, up from CNY 317,520,123.44, indicating a growth of approximately 2.6% in retained earnings[37] - The company reported a total profit of CNY 11,149,173.61 for Q1 2020, down from CNY 11,727,329.82 in Q1 2019, reflecting a decrease of approximately 4.9%[44] Cash Flow and Investments - The net cash flow from operating activities increased by 45.63% to ¥9,858,799.65, compared to ¥6,769,577.49 in the same period last year[7] - Cash flow from operating activities decreased by 94.05% to ¥123,180.24, linked to reduced investment income[15] - The net cash flow from operating activities for Q1 2020 was ¥9,858,799.65, an increase of 45.5% compared to ¥6,769,577.49 in Q1 2019[52] - Total cash inflow from operating activities was ¥288,843,236.64, up from ¥216,676,603.35 in the previous year, representing a growth of 33.3%[52] - Cash outflow from operating activities totaled ¥278,984,436.99, compared to ¥209,907,025.86 in Q1 2019, indicating a rise of 33.0%[52] - The net cash flow from investing activities was -¥90,722,017.95, worsening from -¥49,266,509.18 year-over-year[52] - Cash inflow from investing activities was ¥26,633,430.24, significantly down from ¥202,069,553.82 in the previous year, a decline of 86.8%[52] - Cash outflow from investing activities reached ¥117,355,448.19, compared to ¥251,336,063.00 in Q1 2019, a decrease of 53.3%[52] - The net cash flow from financing activities was -¥430,000.00, compared to -¥20,378,705.90 in the previous year, showing a significant reduction in cash outflow[53] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,086,295,773.52, a slight increase of 0.38% from ¥1,082,228,876.93 at the end of the previous year[7] - Total liabilities decreased to CNY 299,071,191.25 from CNY 304,961,254.57, reflecting a reduction of about 1.5%[36] - The company's total equity increased to CNY 787,224,582.27 from CNY 777,267,622.36, representing an increase of approximately 1.2%[37] - Cash and cash equivalents decreased by 34.95% to ¥147,251,630.61 due to increased investments in wealth management products[14] - Accounts receivable decreased from 140,144,818.35 to 110,821,349.82, indicating a reduction of approximately 21%[34] - Inventory increased from 130,650,919.23 to 157,530,000.57, showing an increase of about 20.5%[34] Research and Development - R&D expenses grew by 37.26% to ¥12,444,426.91, reflecting increased business activities from the merger[14] - Research and development expenses increased to CNY 12,444,426.91 in Q1 2020, compared to CNY 9,066,037.27 in Q1 2019, marking a rise of approximately 37.5%[43] Government and Other Income - The company received government subsidies amounting to ¥621,637.94 during the reporting period[8] - Other income for Q1 2020 was CNY 621,637.94, significantly higher than CNY 162,000.00 in Q1 2019, representing an increase of approximately 284.5%[43] Compliance and Commitments - No overdue commitments were reported during the reporting period[20] - There were no violations regarding external guarantees during the reporting period[27] - The company reported no non-operating fund occupation by controlling shareholders or related parties[28] - The company has not undergone an audit for the Q1 2020 report[57]

上海纳尔实业股份有限公司 2019 年第三季度报告 上海纳尔实业股份有限公司 2019 年第三季度报告全文 2019 年 10 月 1 上海纳尔实业股份有限公司 2019 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 2 上海纳尔实业股份有限公司 2019 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 1,081,710,762.93 | | 841,630,525.61 | 28.53% | | 归属于上市公司股东的净资产 | 711,266,056.96 | | 621,538,087.23 | 14.44% | | （元） | | | | | | | 本报告期 | 本报告期比上年 ...

上海纳尔实业股份有限公司 2019 年半年度报告全文 上海纳尔实业股份有限公司 2019 年半年度报告 2019 年 07 月 1 上海纳尔实业股份有限公司 2019 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的 真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和 连带的法律责任。 公司负责人游爱国、主管会计工作负责人游爱军及会计机构负责人(会计主 管人员)何贵财声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 无 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | 2019 | 年半年度报告 2 | | --- | --- | | 第一节 | 重要提示、释义 5 | | 第二节 | 公司简介和主要财务指标 8 | | 第三节 | 公司业务概要 10 | | 第四节 | 经营情况讨论与分析 19 | | 第五节 | 重要事项 31 | | 第六节 | 股份变动及股东情况 35 | | 第七节 | 优先股相关情况 36 | | 第八节 | 董事、监事、高级管理人员情况 ...

上海纳尔实业股份有限公司 2019 年第一季度报告全文 上海纳尔实业股份有限公司 2019 年第一季度报告 2019 年 04 月 1 上海纳尔实业股份有限公司 2019 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人游爱国、主管会计工作负责人游爱军及会计机构负责人(会计主 管人员)何贵财声明：保证季度报告中财务报表的真实、准确、完整。 2 上海纳尔实业股份有限公司 2019 年第一季度报告全文 第二节 公司基本情况 | 项目 | 年初至报告期期末金额 | 说明 | | --- | --- | --- | | 计入当期损益的政府补助（与企业业务密切相关，按照国家统 | 862,000.00 | | | 一标准定额或定量享受的政府补助除外） | | | | 委托他人投资或管理资产的损益 | 1,337,619.97 | | | 减：所得税影响额 | 329,943.00 | | | 合计 | 1,869,676. ...

上海纳尔实业股份有限公司 2018 年年度报告全文 上海纳尔实业股份有限公司 2018 年年度报告 2019 年 01 月 1 上海纳尔实业股份有限公司 2018 年年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连 带的法律责任。 公司负责人游爱国、主管会计工作负责人游爱军及会计机构负责人(会计主 管人员)何贵财声明：保证年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者 的实质承诺，投资者及相关人士均应当对此保持足够的风险认识，并且应当理 解计划、预测与承诺之间的差异，敬请投资者注意投资风险。 公司目前不存在影响公司正常经营的重大风险。公司日常经营中可能面临 的风险因素详见"第四节经营情况讨论与分析"之"九、公司未来发展的展望"中 相关风险因素。 公司经本次董事会审议通过的利润分配预案为：以 140130095 股为基数， 向全体股东每 10 股派发现金红利 1.00 元（含税），送 ...

所有董事均已出席了审议本次季报的董事会会议。 上海纳尔数码喷印材料股份有限公司 2018 年第三季度报告全文 上海纳尔数码喷印材料股份有限公司 2018 年第三季度报告 2019 年 01 月 1 上海纳尔数码喷印材料股份有限公司 2018 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 公司负责人游爱国、主管会计工作负责人游爱军及会计机构负责人(会计主 管人员)何贵财声明：保证季度报告中财务报表的真实、准确、完整。 2 上海纳尔数码喷印材料股份有限公司 2018 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 836,054,342.14 | | 750,828,281.84 | 11.35% | | 归属于上市公司股东的净资产 | ...

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 373,570,448.76, representing a 27.77% increase compared to CNY 292,379,604.12 in the same period last year[17]. - The net profit attributable to shareholders was CNY 28,559,313.70, up 48.58% from CNY 19,221,971.97 year-on-year[17]. - The net profit after deducting non-recurring gains and losses was CNY 24,695,535.89, reflecting a 33.97% increase compared to CNY 18,433,422.20 in the previous year[17]. - The basic earnings per share increased to CNY 0.28, a rise of 47.37% from CNY 0.19 in the same period last year[17]. - The total assets at the end of the reporting period were CNY 800,242,060.39, which is a 6.58% increase from CNY 750,828,281.84 at the end of the previous year[17]. - The net assets attributable to shareholders increased by 3.26% to CNY 587,501,025.63 from CNY 568,961,667.79 at the end of the previous year[17]. - The company reported a significant decrease in net cash flow from operating activities, which was CNY 16,984,157.70, down 61.32% from CNY 43,912,750.18 in the same period last year[17]. Business Operations - The main business involves the R&D, production, and sales of digital printing materials, with products widely used in outdoor advertising and decorative applications[25]. - The company operates under a "sales-driven production" model, maintaining appropriate inventory levels[25]. - The company achieved a revenue of CNY 373.57 million in the first half of 2018, representing a year-on-year increase of 27.77%[39]. - The company added 7 new patents during the reporting period, including 1 invention patent, enhancing its R&D capabilities[39]. - The company has established a stable management team and implemented a second phase of the equity incentive plan, involving 117 management and key employees[39]. - The company has improved its marketing service system and expanded its market share through regionalization strategies[39]. - The company has a strong focus on continuous R&D, with significant investments in its technology R&D center to boost core competitiveness[39]. - The company has developed a comprehensive quality management system certified by ISO9001:2015, ensuring product quality and operational efficiency[33]. - The company has established stable partnerships with leading enterprises in the industry, enhancing its brand influence and market position[32]. - The company offers a diverse range of digital printing materials, catering to specific customer needs and providing a "one-stop" service[31]. - The "NAR" brand has gained recognition as a famous trademark in Shanghai and has received multiple awards for quality, enhancing its market reputation[36]. Market and Sales - Sales of single-layer membranes surged by 68.39% to ¥69,097,029.56, attributed to enhanced marketing network and increased market share[46]. - The sales in the Americas and Australia region grew by 97.14% to ¥105,511,500.58, driven by significant demand shifts due to political activities in South America[46]. - The company reported a significant increase in sales from the Central and Southern China regions, with growth rates of 70.41% and 175.90%, respectively, due to enhanced domestic marketing efforts[46]. Investments and Funding - The total amount of raised funds is RMB 19,325 million, with RMB 2,803.64 million invested during the reporting period[57]. - Cumulative investment of raised funds reached RMB 8,334.30 million as of June 30, 2018[60]. - The balance of raised funds as of June 30, 2018, is RMB 11,721.20 million, including RMB 621.20 million in special accounts and RMB 11,100.00 million in bank financial products[60]. - The high-performance digital printing material production project (Phase III) has a total investment of RMB 15,134.41 million, with 42.36% of the investment completed by November 30, 2018[61]. - The digital printing material engineering technology research center project has a total investment of RMB 2,636.73 million, with 61.51% of the investment completed by November 30, 2018[61]. - The domestic marketing network construction project has a total investment of RMB 1,563.91 million, with 19.58% of the investment completed by November 30, 2018[61]. - The company received RMB 287.06 million from financial product returns during the reporting period[60]. Shareholder and Equity Information - The company has approved a second stock option incentive plan, granting a total of 951,500 stock options, which represents 0.95% of the company's total share capital[86]. - The company completed the second phase of the stock option incentive plan, granting a total of 1,276,100 shares, which accounts for 0.91% of the total shares at the time of the plan signing[88]. - Of the granted stock options, 1,024,100 shares were allocated, representing 80.25% of the total granted rights[88]. - The company repurchased and canceled 108,050 restricted shares due to employees leaving and not meeting incentive conditions, reducing the total share capital from 100,310,000 to 100,201,950 shares[106]. - Following the 2017 annual equity distribution, the total share capital increased to 140,282,730 shares, with a distribution of 1.00 yuan per 10 shares and a capital reserve conversion of 4 shares for every 10 shares[106]. - The total number of ordinary shareholders at the end of the reporting period was 13,903[112]. - Major shareholder You Aiguo holds 33.33% of the shares, while Wang Shuming holds 17.49%[113]. - The company did not experience any changes in its controlling shareholder or actual controller during the reporting period[115]. Risk Factors - The company is facing risks related to market competition, particularly from international firms with advanced technology and market share[71]. - The company recognizes the cyclical nature of market demand for digital printing materials, influenced by macroeconomic conditions and political activities[72]. - The main raw materials, including PVC film and resin, account for approximately 70% of production costs, with potential risks of price increases in the second half of the year[71]. Compliance and Governance - The financial report for the first half of 2018 was not audited[126]. - The company has not engaged in any significant non-equity investments during the reporting period[54]. - The company has not engaged in any securities or derivative investments during the reporting period[55]. - The company has disclosed that there are no violations in the management and use of fundraising funds[62]. - The company has not experienced any major litigation or arbitration matters during the reporting period[83]. - The company has not undergone any bankruptcy restructuring during the reporting period[82]. - The company has not engaged in any significant related party transactions during the reporting period[89][90][91][92][93]. - There were no major contracts or guarantees during the reporting period[94][97][98]. - The company has no significant environmental protection issues and is not listed as a key pollutant unit by environmental authorities[99]. - The company has not reported any significant social responsibility initiatives related to poverty alleviation during the reporting period[101][102]. - There were no major matters requiring explanation during the reporting period[102]. Accounting Policies - The financial statements have been approved by the board on August 3, 2018, for external reporting[164]. - The accounting policies comply with the requirements of enterprise accounting standards, ensuring a true and complete reflection of the company's financial status[167]. - The accounting treatment for business combinations under common control measures the acquired assets and liabilities at the book value in the consolidated financial statements of the final controlling party[170]. - For business combinations not under common control, goodwill is recognized when the purchase cost exceeds the fair value of identifiable net assets acquired[170]. - The consolidated financial statements include all subsidiaries controlled by the parent company, prepared according to relevant accounting standards[171]. - Cash and cash equivalents are defined as cash on hand and deposits that are readily available for payment[172]. - Foreign currency transactions are converted to RMB using the spot exchange rate on the transaction date, with exchange differences recognized in the current profit or loss[173]. - Financial assets are classified into four categories at initial recognition, including those measured at fair value with changes recognized in profit or loss[174]. - The company measures financial assets at fair value, with certain exceptions for held-to-maturity investments and loans[175]. - Gains or losses from changes in the fair value of financial assets are recognized in profit or loss, except for those related to hedging[176]. - The fair value of financial assets and liabilities is determined using valuation techniques based on observable and unobservable inputs[178]. - Impairment testing for financial assets is conducted at the balance sheet date, and impairment provisions are recognized if objective evidence of impairment exists[178]. - The company conducts impairment testing for significant financial assets individually, while minor assets can be tested individually or grouped by similar credit risk characteristics[179]. - The aging analysis method is used for provisioning bad debts, with rates of 5% for receivables within 1 year, 10% for 1-2 years, 40% for 2-3 years, and 100% for over 3 years[182].