广东天元实业集团股份有限公司 2022 年第三季度报告 证券代码：003003 证券简称：天元股份 公告编号：2022-062 广东天元实业集团股份有限公司 2022 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 3.第三季度报告是否经过审计 □是 否 1 广东天元实业集团股份有限公司 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 公司不存在其他符合非经常性损益定义的损益项目的具体情况。 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 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比上 | | --- | --- | --- | --- | --- | | | | 增减 | | 年同期增减 | | 营业 ...

Financial Performance - The company's operating revenue for the first half of 2022 was ¥675,311,650.34, representing a 15.86% increase compared to ¥582,879,222.98 in the same period last year[18]. - The net profit attributable to shareholders decreased by 83.22% to ¥3,755,249.61 from ¥22,377,582.64 year-on-year[18]. - The net profit after deducting non-recurring gains and losses fell by 90.71% to ¥997,280.98 compared to ¥10,735,781.86 in the previous year[18]. - The net cash flow from operating activities improved significantly to ¥62,178,196.38, a 238.58% increase from a negative cash flow of ¥44,869,244.50 in the same period last year[18]. - Operating costs increased by 19.60% to ¥606,597,773.22 from ¥507,202,974.80, resulting in a gross margin of 10.18%, which is a decrease of 2.81% from the previous year[42]. - The company reported a total revenue of 90,138,700 with a net profit of 1,208,137.36, indicating a strong performance in the packaging and printing sector[69]. - The company faced a net loss of 2,542,571.66 in the packaging and printing segment, highlighting challenges in this area[69]. - The company reported a significant increase in financial expenses, amounting to ¥2,602,486.60, primarily due to increased bank loan interest costs[40]. - The company reported a total comprehensive income for the first half of 2022 of CNY 10,527,595.80, compared to CNY 20,561,946.40 in the same period of 2021, reflecting a decline of 48.9%[150]. Assets and Liabilities - Total assets decreased by 9.72% to ¥1,676,909,314.29 from ¥1,857,455,200.39 at the end of the previous year[18]. - The net assets attributable to shareholders decreased by 1.12% to ¥1,206,708,671.16 from ¥1,220,411,146.80 at the end of the previous year[18]. - Cash and cash equivalents decreased to ¥159.51 million, accounting for 9.51% of total assets, down from 13.44% last year, primarily due to repayment of bank loans[47]. - Accounts receivable increased to ¥269.31 million, representing 16.06% of total assets, up from 14.98% year-over-year[47]. - Inventory decreased to ¥302.59 million, making up 18.04% of total assets, compared to 17.41% last year[47]. - Fixed assets rose to ¥612.78 million, now 36.54% of total assets, an increase from 28.69% year-over-year[47]. - The total liabilities decreased to CNY 467,852,390.90 from CNY 634,672,152.40 at the start of the year[138]. - The total current liabilities decreased to CNY 338,277,368.03 from CNY 476,842,664.55[138]. Research and Development - Research and development investment rose by 20.82% to ¥26,657,600.04, up from ¥22,063,544.30, indicating a commitment to innovation[40]. - The company's R&D expenses increased to CNY 23,051,670.51 in the first half of 2022, compared to CNY 15,817,775.06 in the first half of 2021, representing a growth of 45.5%[148]. - The company plans to enhance R&D efforts to promote product upgrades and improve production processes to mitigate market competition risks[71]. - Ongoing research and development efforts are set to enhance product offerings, with an investment of 200 million RMB allocated for new technology initiatives[87]. Market Position and Strategy - The company is a leading provider of comprehensive solutions for express e-commerce packaging and printing, focusing on R&D, design, production, sales, and service[27]. - The main products include electronic labels, plastic packaging, express envelopes, and cushioning packaging, primarily serving the express logistics and e-commerce sectors[27]. - The company has established long-term partnerships with major logistics companies such as Yunda Express and China Post, enhancing its market reach[36]. - The company’s sales strategy includes leveraging e-commerce platforms like Alibaba and JD.com to expand its market presence[35]. - The company aims to leverage bulk purchasing advantages to manage raw material price fluctuations, which significantly affect its cost structure[71]. - The company is expanding its market presence, targeting an increase in market share by 10% in the next fiscal year through strategic partnerships[87]. Sustainability and Corporate Responsibility - The company has developed a series of biodegradable products, including courier bags and food containers, which can completely decompose into water and carbon dioxide within 180 days after being buried[32]. - The company has introduced new green packaging products, such as kraft paper envelopes and cushioning paper bags, aligning with national policies on plastic reduction[37]. - The company’s biodegradable packaging products have been included in the national postal service's green product directory, showcasing its commitment to sustainability[36]. - The company emphasizes the use of high-quality new materials in its plastic products, avoiding toxic and harmful recycled materials[29]. - The company has been recognized as a high-tech enterprise and has received multiple honors for its green product certifications[36]. - The company is committed to maintaining stable operations amid potential disruptions from natural disasters or pandemics[72]. Shareholder and Governance Matters - The company does not plan to distribute cash dividends or issue bonus shares[4]. - The company has committed to not transferring or entrusting the management of shares held before the IPO for 36 months from the date of listing[86]. - The company will comply with relevant laws and regulations regarding share transfer restrictions and will apologize publicly if any commitments are not fulfilled[86]. - The company has established a clear framework for share transfer commitments to ensure compliance and protect investor interests[86]. - The company’s chairman has committed to not transferring more than 25% of his shares annually during his tenure and not transferring any shares within 6 months after leaving[86]. - The company has implemented a lock-up period for executives, with specific release dates outlined in the incentive plan[121]. Financial Management and Reporting - The semi-annual financial report was not audited[96]. - The company has implemented new policies to improve financial reporting accuracy and transparency[161]. - The company’s financial statements are prepared based on the principle of control, ensuring accurate representation of its financial position[179]. - The company adheres to the accounting standards and principles set forth by the relevant regulatory bodies[173]. - The company recognizes financial assets based on the business model and cash flow characteristics, classifying them into three categories: amortized cost, fair value through other comprehensive income, and fair value through profit or loss[190]. Future Outlook - The company provided a positive outlook for the next quarter, projecting a revenue increase of 25% based on current market trends and user acquisition strategies[87]. - The company plans to continue expanding its market presence and investing in new product development[158]. - The company aims to expedite the implementation of fundraising investment projects to achieve expected returns and reduce the impact of this issuance[90]. - The company has identified potential acquisition targets to enhance its market share and operational capabilities[161].

Financial Performance - The company's revenue for Q1 2022 was CNY 326,608,970.93, representing a 19.89% increase compared to CNY 272,429,290.54 in the same period last year[3]. - The net profit attributable to shareholders decreased by 97.87% to CNY 291,051.29 from CNY 13,638,714.42 year-on-year[3]. - Operating profit decreased to ¥659,283.40 from ¥16,080,722.05, indicating a decline of approximately 95.9%[15]. - Net profit for the current period was ¥281,998.79, a sharp drop from ¥13,783,063.89, representing a decline of about 98.0%[15]. Cash Flow - The net cash flow from operating activities improved by 167.98%, reaching CNY 29,236,663.43, compared to a negative cash flow of CNY -43,005,153.35 in the previous year[3]. - Cash flow from operating activities generated a net amount of ¥29,236,663.43, recovering from a negative cash flow of ¥43,005,153.35 in the previous period[18]. - Cash inflow from investment activities totaled ¥891,422,616.84, a significant increase from ¥72,152,520.11 in the prior period[19]. - The net cash flow from investment activities was ¥62,400,939.27, compared to a negative cash flow of ¥64,766,814.08 previously, indicating a positive turnaround[19]. - Cash and cash equivalents at the end of the period stood at ¥204,277,696.52, up from ¥26,850,919.24, showing a substantial increase in liquidity[19]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,731,896,168.76, down 6.76% from CNY 1,857,455,200.39 at the end of the previous year[3]. - Total current assets decreased from 1,094,204,054.34 CNY at the beginning of the year to 951,576,430.71 CNY, a reduction of approximately 13.0%[10]. - Total liabilities decreased from 634,672,152.40 CNY to 509,011,825.11 CNY, a reduction of approximately 19.8%[12]. - The company's total liabilities decreased significantly, with short-term borrowings down by 74.80% to CNY 44,394,841.61 from CNY 176,158,637.10[6]. - The company reported a significant decrease in financial assets, with trading financial assets dropping by 73.77% to CNY 28,000,000.00 from CNY 106,751,017.37[6]. Shareholder Information - Total number of common stock shareholders at the end of the reporting period is 18,717[8]. - The largest shareholder, Zhou Xiaowei, holds 33.10% of the shares, amounting to 58,503,000 shares[8]. Research and Development - Research and development expenses increased by 36.97% to CNY 11,665,549.63, up from CNY 8,517,096.97 in the same period last year[6]. - The company has not disclosed any new product developments or market expansion strategies in the current report[9]. Equity and Earnings - The weighted average return on equity decreased to 0.02% from 1.11% in the previous year[3]. - The total equity attributable to the parent company increased slightly from 1,220,411,146.80 CNY to 1,220,743,590.56 CNY[12]. - The company reported a basic and diluted earnings per share of ¥0.00, down from ¥0.08 in the previous period[16]. - Other comprehensive income after tax was reported at -¥24,860.83, an improvement from -¥136,674.83 in the previous period[16].

Financial Performance - The company's operating revenue for 2021 was CNY 1,288,836,109.76, representing a 26.94% increase compared to CNY 1,015,338,703.36 in 2020[17]. - The net profit attributable to shareholders decreased by 55.95% to CNY 25,934,777.82 from CNY 58,874,930.55 in the previous year[17]. - The net profit after deducting non-recurring gains and losses dropped by 91.71% to CNY 4,147,326.48, down from CNY 50,009,364.57 in 2020[17]. - The net cash flow from operating activities was negative at CNY -42,227,205.27, a decline of 351.84% compared to CNY 16,767,324.73 in 2020[17]. - Basic earnings per share fell by 63.41% to CNY 0.15 from CNY 0.41 in the previous year[17]. - Total assets increased by 17.30% to CNY 1,857,455,200.39 at the end of 2021, up from CNY 1,583,561,564.32 at the end of 2020[17]. - The net assets attributable to shareholders slightly decreased by 0.15% to CNY 1,220,411,146.80 from CNY 1,222,224,559.52 in 2020[17]. - The weighted average return on net assets was 2.13%, down from 6.93% in the previous year, reflecting a decline of 4.80%[17]. - The company reported a revenue of CNY 1,288.84 million in 2021, representing a year-on-year growth of 26.94%, while the net profit attributable to shareholders decreased by 55.95% to CNY 25.93 million[43]. - The company achieved total assets of CNY 1,857.46 million and equity attributable to shareholders of CNY 1,220.41 million, with a debt-to-asset ratio of 34.17%[43]. Cash Flow and Investments - The net cash flow from operating activities decreased by 351.84% year-on-year, primarily due to increased cash expenses and payments to employees[70]. - Investment cash inflow decreased by 35.89% year-on-year, mainly due to a reduction in the recovery of financial products[70]. - Investment cash outflow decreased by 63.43% year-on-year, primarily due to a decrease in the purchase of financial products[70]. - The net cash flow from investment activities increased by 117.83% year-on-year, attributed to the recovery of financial products exceeding the amount purchased[70]. - Cash and cash equivalents increased by 288.21% year-on-year, reaching a net increase of ¥173,915,120.65[70]. - Total investment during the reporting period was ¥675,485,476.99, a decrease of 63.51% compared to the previous year[78]. - The company has raised a total of RMB 463.66 million through its initial public offering, with a net amount of RMB 418.50 million after deducting expenses[86]. - As of December 31, 2021, the company has utilized RMB 235.17 million of the raised funds, with RMB 59.99 million allocated for working capital and RMB 168.71 million for the logistics green packaging project[87]. - The logistics green packaging project has achieved a progress rate of 79.79%, with RMB 168.71 million invested out of the planned RMB 211.45 million[88]. - The low-carbon packaging project has only utilized RMB 6.46 million, representing 6.66% of the planned investment of RMB 97.05 million[88]. Research and Development - R&D expenses for 2021 amounted to CNY 54.27 million, an increase of 23.50% compared to 2020, with 23 new intellectual property rights added[45]. - The company is committed to developing biodegradable products in response to national environmental policies and customer demands[29]. - The company has filed for new patents related to recycling processes and green packaging technologies during the reporting period[29]. - The company is focusing on the development of biodegradable packaging materials to reduce reliance on imported PLA raw materials[67]. - The company has a strong focus on research and development, collaborating with universities to enhance its green packaging capabilities and maintain a competitive edge in the market[42]. - The company is investing 100 million RMB in research and development for new technologies aimed at improving product offerings[158]. Market Expansion and Sales - The company has expanded its overseas market sales, which have been growing year by year[30]. - International business revenue grew by 18.68% year-on-year, contributing to the company's expansion in overseas markets[46]. - Online marketing revenue increased by 50.56% year-on-year, reflecting enhanced digital marketing efforts[48]. - The company is focusing on optimizing its sales strategies by exploring product and industry marketing models[46]. - The company is expanding its online sales through platforms like Amazon and has developed a one-stop procurement solution for packaging materials[40]. - The company aims to expand its market share by providing higher quality and more competitive products[67]. - Market expansion efforts include entering two new provinces, aiming to increase market share by 8% in the next year[124]. Environmental and Compliance - The company faced an administrative penalty of 160,000 RMB for exceeding the odor concentration limits as per environmental regulations[152]. - The company also incurred a fine of 55,000 RMB for violations related to the storage of hazardous chemicals, indicating a need for improved safety management practices[152]. - The company has committed to enhancing its environmental awareness and compliance with laws and regulations following the penalties received[152]. - The company emphasizes compliance with environmental laws and regulations to mitigate risks associated with environmental management[152]. - The company has established internal management and control systems to ensure compliance with corporate governance and information disclosure requirements[153]. Governance and Management - The company has established a supervisory board consisting of 3 members, including 1 employee representative, complying with legal requirements[109]. - The company ensures independent operation from its controlling shareholder in terms of business, personnel, assets, and finance[112]. - The company has a designated board secretary responsible for investor relations management, enhancing communication with investors[109]. - The company strictly adheres to information disclosure obligations as per relevant laws and regulations, ensuring transparency[109]. - The company has a complete and independent business operation capability since its establishment[112]. - The company experienced a leadership change with the resignation of several board members and executives due to the election cycle in September 2021[116]. - The management team includes experienced professionals with backgrounds in finance and management, contributing to strategic decision-making[120]. Shareholder Relations and Commitments - The company plans to repurchase shares with a total amount not exceeding RMB 10 million per single repurchase, and each repurchase will not exceed 2.00% of the total share capital[162]. - The controlling shareholder commits to increase their stake in the company with a minimum investment of 50% of the previous year's cash dividend after tax, and the total increase within twelve months will not exceed 2.00% of the total share capital[162]. - The company has committed to not using its shareholder position to gain improper benefits[160]. - The company will avoid any new business competition that could impact its operations[160]. - The company will publicly disclose reasons for any failure to meet commitments and apologize to shareholders and the public[166]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[158]. - The future guidance includes maintaining a strong focus on sustainability initiatives, with a target of reducing carbon emissions by 30% over the next five years[159]. - The company aims to protect the rights of small and medium shareholders through these stabilization measures[161]. - The company plans to launch three new products in the next quarter, expected to contribute an additional 5% to overall revenue[123].

Financial Performance - The company's revenue for Q3 2021 was ¥314,255,168.27, representing a 26.21% increase year-over-year[3] - Total operating revenue for the third quarter reached ¥897,134,391.25, an increase of 27.5% compared to ¥703,479,929.59 in the same period last year[18] - Net profit attributable to shareholders decreased by 93.46% to ¥687,691.64 in Q3 2021, and a 46.29% decrease to ¥23,065,274.28 for the year-to-date[3] - Net profit attributable to the parent company was ¥23,065,274.28, a decrease of 46.3% from ¥42,941,769.30 in the previous year[20] - Basic and diluted earnings per share decreased to ¥0.13 from ¥0.32 year-on-year[20] Cash Flow - Cash flow from operating activities showed a net outflow of -¥79,999,572.55, a significant decline of 868.79% year-over-year[8] - The company reported a net cash outflow from operating activities of ¥79,999,572.55, worsening from a net outflow of ¥8,257,685.13 in the same period last year[23] - Cash inflows from operating activities totaled ¥966,353,719.93, an increase from ¥813,095,653.28 in the same period last year[23] - The net cash flow from investment activities was -45,061,086.94 CNY, compared to -147,349,709.87 CNY in the previous year, indicating an improvement[24] - The company reported a net cash inflow from financing activities of 126,709,776.49 CNY, a significant decrease from 527,501,696.11 CNY in the same period last year[24] Assets and Liabilities - Total assets increased by 15.12% to ¥1,823,055,835.64 compared to the end of the previous year[3] - Total assets reached ¥1,823,055,835.64, up from ¥1,583,561,564.32, indicating an increase of approximately 15.2%[15] - The total liabilities rose to ¥601,909,957.39, up from ¥360,620,129.51, indicating a significant increase of 66.9%[19] - Current liabilities rose to ¥407,858,991.86 from ¥228,463,320.44, representing an increase of about 78.5%[15] - The company's total liabilities increased significantly, with short-term borrowings rising by 340.23% to ¥132,070,424.58[7] Inventory and Receivables - The company's inventory rose by 69.31% to ¥372,621,540.10, attributed to increased raw material reserves and production preparations[7] - Inventory increased significantly to ¥372,621,540.10 from ¥220,085,669.88, marking a growth of about 69.2%[14] - Accounts receivable rose to ¥231,266,101.38 from ¥187,270,219.58, reflecting a growth of approximately 23.5%[14] Shareholder Information - Total number of common shareholders at the end of the reporting period is 18,484[10] - The largest shareholder, Zhou Xiaowei, holds 33.10% of shares, totaling 58,503,000 shares[10] - The company reported a total of 6,000,000 shares held by Suzhou Zhongding No. 4 Venture Capital Center, which are unrestricted[11] Research and Development - Research and development expenses increased to ¥36,144,660.94, compared to ¥30,335,564.06 in the previous year, reflecting a growth of 19.4%[19] Financial Adjustments and Standards - The company has implemented new leasing standards affecting the financial statements, requiring adjustments to the balance sheet[25] - The company did not undergo an audit for the third-quarter report[30] - The company has not disclosed any new strategies or future outlook in the current report[12] Other Financial Metrics - The financial expenses surged by 778.56% to ¥2,865,478.01, mainly due to reduced interest income from bank deposits[8] - The company recorded other comprehensive income after tax of -¥112,036.80, compared to -¥9,975.45 in the previous year[20] - Cash and cash equivalents increased to ¥81,361,072.50 from ¥62,510,767.27 year-over-year[14] - Cash and cash equivalents at the end of the period were 63,968,130.49 CNY, down from 526,606,975.73 CNY at the end of the previous year[24] - The company's equity totaled 1,222,941,434.81 CNY, with retained earnings of 330,281,534.95 CNY[29]

Financial Performance - The company's operating revenue for the first half of 2021 was approximately ¥582.88 million, representing a 28.25% increase compared to ¥454.48 million in the same period last year[19]. - The net profit attributable to shareholders was approximately ¥22.38 million, a decrease of 30.98% from ¥32.42 million in the previous year[19]. - The net cash flow from operating activities was negative at approximately -¥44.87 million, a decline of 329.12% compared to ¥19.58 million in the same period last year[20]. - Basic earnings per share decreased by 45.83% to ¥0.13 from ¥0.24 in the previous year[20]. - Total assets increased by 10.63% to approximately ¥1.75 billion from ¥1.58 billion at the end of the previous year[20]. - The net assets attributable to shareholders decreased slightly by 0.35% to approximately ¥1.22 billion from ¥1.22 billion at the end of the previous year[20]. - The company reported a significant decrease of 64.03% in net profit after deducting non-recurring gains and losses, amounting to approximately ¥10.74 million compared to ¥29.85 million in the previous year[19]. - The weighted average return on net assets was 1.87%, down from 4.26% in the previous year, reflecting a decrease of 2.39%[20]. Revenue and Growth - The company achieved a revenue of 582.88 million yuan, representing a year-on-year growth of 28.25%[37]. - The company reported a significant increase in revenue for the first half of 2021, achieving a total of 1.5 billion RMB, representing a year-over-year growth of 25%[85]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the first half of 2021, representing a year-over-year growth of 20%[86]. - New product launches are expected to contribute an additional 200 million RMB in revenue, with a focus on innovative technology solutions[85]. - New product launches are expected to contribute an additional 300 million RMB in revenue by the end of 2021, with a focus on innovative technology solutions[86]. - The company achieved a 100.33% increase in revenue from the buffer packaging series, totaling ¥58,306,523.42[44]. Costs and Expenses - The operating cost increased by 40.51% to ¥507,202,974.80, primarily due to rising raw material prices and increased procurement costs[42]. - The company's financial expenses increased by 171.09% to ¥1,035,010.07, primarily due to a decrease in interest income[43]. - The management expenses rose by 64.40% to ¥21,442,503.94, mainly due to increased salaries and benefits for management personnel[43]. - The gross profit margin for the packaging printing industry was 12.98%, down 7.59% from the previous year[44]. Investment and R&D - Research and development investment rose by 18.30% to ¥22,063,544.30, up from ¥18,650,951.20 in the previous year[43]. - The company is investing in the development of biodegradable packaging products, responding to national policies on plastic pollution[37]. - The company plans to enhance R&D efforts to promote product upgrades and improve production processes to mitigate market competition risks[69]. - The company has allocated 22,300,000 CNY for research and development in new technologies for the current fiscal year[156]. Market and Strategic Initiatives - The company focuses on providing a comprehensive solution for e-commerce packaging, including optimization, design, production, and distribution[36]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2022[85]. - A strategic acquisition of a local competitor is anticipated to enhance the company's product offerings and increase market penetration[85]. - The company aims to strengthen its competitive position by enhancing its "one-stop" integrated supply advantages in the future[37]. Shareholder and Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares for this period[5]. - The company has committed to not transferring or entrusting its shares for 36 months from the date of its stock listing[84]. - The company’s actual controller has made commitments regarding share transfer limitations and compliance with relevant laws and regulations[84]. - The company will disclose the status of its commitments in regular reports, including any repurchase of shares or compensation for losses[89]. Environmental and Social Responsibility - The company strictly complies with environmental protection laws and regulations, and has not faced any administrative penalties for environmental issues during the reporting period[80]. - The company actively fulfills its corporate social responsibilities, contributing to employment and promoting sustainable development through investments in new materials and green technologies[81]. - The management emphasized the importance of sustainability initiatives, aiming for a 25% reduction in carbon emissions by 2025[85]. Financial Position and Stability - The company's total assets at the end of the reporting period amounted to approximately ¥1.8 billion, with cash and cash equivalents decreasing by 1.78% to ¥37.97 million due to increased material payments[53]. - The company's total liabilities to equity ratio stands at 0.69, indicating a stable financial structure[156]. - The company has no significant contracts or guarantees during the reporting period[108]. - The company has not reported any significant changes in its ability to continue as a going concern, ensuring stability in its financial reporting[171].

Financial Performance - The company's operating revenue for Q1 2021 was ¥272,429,290.54, representing a 41.02% increase compared to ¥193,186,351.48 in the same period last year[9] - The net profit attributable to shareholders for Q1 2021 was ¥13,638,714.42, up 27.30% from ¥10,714,216.37 in the previous year[9] - Operating revenue increased by 41.02% to ¥272,429,290.54, driven by business scale expansion[17] - The total operating revenue for the first quarter was CNY 265,521,598.73, an increase of 51.3% compared to CNY 175,617,543.90 in the same period last year[45] - The net profit for the first quarter reached CNY 13,783,063.89, representing a growth of 28.3% from CNY 10,750,377.07 year-over-year[42] - Operating profit increased to CNY 16,080,722.05, up 28.5% from CNY 12,557,582.78 in the previous year[42] - The total comprehensive income for the first quarter was CNY 13,646,389.06, an increase from CNY 10,787,717.92 year-over-year[43] Cash Flow - The net cash flow from operating activities improved to -¥43,005,153.35, a 25.78% increase compared to -¥57,945,872.27 in the same period last year[9] - The net cash flow from operating activities was -43,005,153.35 CNY, an improvement from -57,945,872.27 CNY in the previous period, indicating a reduction in cash outflow[50] - Total cash inflow from financing activities increased by 83.94% to ¥108,340,482.30, mainly due to increased bank loans[18] - The net cash flow from financing activities was 72,290,936.29 CNY, up from 58,465,000.00 CNY, showing an increase of about 23.5%[51] - The total cash outflow from operating activities of 334,401,533.92 CNY, which increased from 282,623,681.44 CNY, representing a rise of approximately 18.3%[50] Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,692,796,843.10, a 6.90% increase from ¥1,583,561,564.32 at the end of the previous year[9] - Total liabilities increased to CNY 453,848,431.21 from CNY 360,620,129.51, marking a rise of 25.83%[34] - Current liabilities totaled CNY 285,117,639.93, compared to CNY 228,463,320.44 in the previous year, indicating a growth of 24.77%[34] - Long-term borrowings rose to CNY 142,350,486.16 from CNY 112,000,000.00, representing an increase of 27.06%[34] - Total equity attributable to shareholders increased to CNY 1,236,145,883.05 from CNY 1,222,224,559.52, reflecting a growth of 1.14%[35] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 20,602[13] - The largest shareholder, Zhou Xiaowei, holds 33.10% of the shares, totaling 58,503,000 shares[13] Costs and Expenses - Operating costs rose by 52.57% to ¥238,298,788.21, mainly due to rising raw material prices[17] - The company reported a financial expense of CNY 713,347.55, compared to a financial income of CNY -228,895.01 in the previous year, reflecting a significant change in financial management[42] - The tax expense for the quarter was CNY 2,351,060.16, compared to CNY 1,684,705.71 in the same period last year, indicating higher profitability[42] Other Income and Subsidies - The company received government subsidies amounting to ¥2,491,231.54 during the reporting period[10] - Other income surged by 423.87% to ¥2,491,231.54, attributed to increased government subsidies[18] - The company experienced a significant increase in other income, which rose to CNY 2,491,231.54 from CNY 475,546.77, indicating improved operational efficiency[42] Inventory and Impairment - The company reported a significant increase in inventory, totaling CNY 220,085,669.88[57] - The company reported a 250.70% increase in asset impairment losses to ¥232,961.53, primarily from inventory consumption[18]

Financial Performance - The company's operating revenue for 2020 was approximately ¥1.015 billion, representing a 1.14% increase compared to ¥1.004 billion in 2019[18]. - The net profit attributable to shareholders for 2020 was approximately ¥58.87 million, a decrease of 28.80% from ¥82.69 million in 2019[18]. - The net profit after deducting non-recurring gains and losses was approximately ¥50.01 million, down 38.00% from ¥80.66 million in 2019[18]. - The net cash flow from operating activities was approximately ¥16.77 million, a significant decline of 78.57% compared to ¥78.25 million in 2019[18]. - Basic earnings per share for 2020 were ¥0.41, a decrease of 33.87% from ¥0.62 in 2019[19]. - Total assets at the end of 2020 were approximately ¥1.584 billion, an increase of 59.59% from ¥992.28 million at the end of 2019[19]. - Net assets attributable to shareholders at the end of 2020 were approximately ¥1.222 billion, up 64.06% from ¥744.98 million at the end of 2019[19]. - The company achieved an operating income of CNY 1,015,338,703.36 in 2020, representing a year-on-year growth of 1.14%, while net profit attributable to shareholders decreased by 28.80% to CNY 58,874,930.55[41]. - The gross profit margin for the packaging and printing industry was 16.55%, down 5.76% compared to the previous year[49]. Cash Flow and Investments - The net cash flow from operating activities decreased by 78.57% to ¥16,767,324.73, primarily due to increased cash payments for purchased goods and services[62]. - Cash inflow from investment activities increased by 60.10% to ¥1,229,104,445.64, mainly due to an increase in the recovery of financial products[62]. - Cash inflow from financing activities surged by 897.63% to ¥542,410,773.60, primarily due to funds raised from a public share issuance[62]. - The total investment amount for the reporting period reached ¥1,851,259,643.17, representing a significant increase of 108.46% compared to ¥888,079,000.68 in the same period last year[70]. - The company reported a total of ¥503,521,488.69 in restricted assets, including cash, trading financial assets, accounts receivable, and intangible assets[69]. Strategic Initiatives and Future Plans - The company has outlined its future development strategy and operational goals in the report, highlighting potential risks[6]. - The company aims to become a leading supplier in the supply chain ecosystem by integrating upstream and downstream resources and providing a one-stop procurement platform[27]. - The company is actively promoting the development of green and environmentally friendly products, including biodegradable materials, in response to national regulations on plastic pollution[90]. - The company plans to enhance its supply chain and customer delivery system to improve efficiency and reduce costs, focusing on a one-stop integrated procurement solution[90]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 300 million RMB allocated for potential deals[103]. Market and Industry Trends - The packaging and printing industry is experiencing rapid growth, with the national express service volume increasing from 3.67 billion to 83.36 billion packages from 2011 to 2020, reflecting a compound annual growth rate of approximately 41.48%[30]. - The international business grew by 6.67% in 2020, despite challenges from the COVID-19 pandemic and trade tensions[43]. - The company is expanding its product range and marketing channels, transitioning from express e-commerce consumables to a comprehensive consumables product line[91]. Shareholder and Governance Matters - The company plans to distribute a cash dividend of ¥1.5 per 10 shares, totaling approximately ¥26.51 million based on 176,720,000 shares[6]. - The company has established a commitment to avoid any actions that may harm the interests of the company or its shareholders, including competitive activities[105]. - The company has committed to timely information disclosure regarding any stock repurchase activities[106]. - The company has established internal control regulations to enhance management and governance[200]. - The company ensures fair treatment of all investors, allowing minority shareholders to fully exercise their rights during shareholder meetings[200]. Research and Development - Research and development expenses for 2020 were CNY 4,394.35 million, an increase of 14.17% compared to 2019, with 29 new intellectual property rights added, including 7 invention patents[42]. - The company is investing 50 million RMB in R&D for new technologies aimed at enhancing product efficiency[103]. - The company has established a packaging research center, contributing to its technological research and development capabilities[36]. Compliance and Regulatory Matters - The company has ensured compliance with regulatory requirements regarding shareholder commitments and potential penalties for non-compliance[112]. - The company has committed to long-term shareholding to ensure control stability and may consider gradual share reduction post-lockup period, with a maximum reduction of 25% of shares held annually[112]. - The company changed its auditing firm from Deloitte to Huaxing Accounting Firm for the 2020 fiscal year[124]. Employee and Management Information - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 3.3986 million[192]. - The company employed a total of 1,260 staff, with 752 in production, 159 in sales, 68 in technical roles, 39 in finance, and 242 in administration[194]. - The company emphasizes employee training, conducting various training programs to enhance skills and capabilities[197].

Financial Performance - Operating revenue for the current period was CNY 248,995,818.12, a 4.78% increase year-on-year[8] - Net profit attributable to shareholders decreased by 49.65% to CNY 10,519,515.12 compared to the same period last year[8] - Basic earnings per share decreased by 50.00% to CNY 0.08[8] - Weighted average return on equity dropped to 1.23%, a decrease of 58.31% compared to the same period last year[8] - Total operating revenue for the current period is ¥248,995,818.12, an increase from ¥237,645,182.46 in the previous period, reflecting a growth of approximately 4.8%[38] - Net profit for the current period is ¥10,639,238.07, down from ¥20,787,960.39 in the previous period, representing a decline of approximately 48.9%[40] - Total comprehensive income for the current period is ¥10,594,943.29, down from ¥20,816,361.48 in the previous period, a decline of approximately 49.1%[41] - The total profit for the current period is ¥11,712,008.86, down from ¥24,782,630.74 in the previous period, reflecting a decrease of about 52.8%[40] Assets and Liabilities - Total assets increased by 53.84% to CNY 1,526,529,510.24 compared to the end of the previous year[8] - Current assets totaled CNY 1,023,098,902.31, up from CNY 606,320,034.62, indicating an increase of about 68.7% year-over-year[30] - Total liabilities increased to CNY 319,511,564.95 from CNY 246,831,730.91, reflecting a growth of around 29.3%[32] - The company's fixed assets rose by 111.5% to ¥309,731,284.00, attributed to the construction of new factories and increased equipment investment[16] - The company's long-term borrowings increased by 148.89% to ¥112,000,000.00, driven by loans for new factory construction[16] Cash Flow - Net cash flow from operating activities was negative at CNY -27,840,586.35, a decrease of 192.67% compared to the same period last year[8] - The company's cash and cash equivalents increased by 594.07% to ¥526,606,975.73, primarily due to the receipt of raised funds[17] - The company's cash flow from financing activities surged by 2326.72% to ¥527,501,696.11, largely due to the influx of raised funds[17] - The net cash flow from operating activities was -57,036,871.81 CNY, compared to 13,968,534.07 CNY in the previous period[61] - The cash inflow from sales of goods and services was 655,283,154.91 CNY, compared to 610,451,635.56 CNY in the previous period[60] Shareholder Information - The total number of shareholders at the end of the reporting period was 59,802[12] - The largest shareholder, Zhou Xiaowei, holds 33.10% of the shares, totaling 58,503,000 shares[12] Expenses and Investments - Total operating costs for the current period are ¥239,734,545.31, compared to ¥215,912,789.08 in the previous period, indicating an increase of about 11.0%[39] - Research and development expenses increased to ¥11,684,612.86 from ¥9,793,448.32, marking a rise of about 19.3%[39] - The company reported a financial expense of ¥1,033,602.70, compared to a financial income of -¥917,755.80 in the previous period, indicating a significant shift in financial performance[39] - The investment income for the quarter was CNY 231,126.43, down from CNY 1,435,430.76, indicating challenges in investment performance[48] Other Financial Metrics - Non-recurring gains and losses totaled CNY 3,438,133.09 for the current period[10] - The company's capital reserve increased by 120.61% to ¥684,649,095.92, due to the premium from the initial public offering[16] - The company's retained earnings increased to CNY 318,659,067.91 from CNY 275,717,298.61, reflecting a growth of approximately 15.5%[33] - The company experienced a significant reduction in income tax expenses, which were CNY 6,968,787.02 compared to CNY 12,179,692.32 in the previous year, reflecting a more favorable tax environment[48]