1 证券代码：300132 证券简称：青松股份 福建青松股份有限公司 投资者关系活动记录表 编号：2021-003 | --- | --- | --- | |-------------------------|-----------------------------------|-------------------------------------------------------------------------------| | 投资者关系活动 \n类别 | □媒体采访 \n□现场参观 \n□其他 | □特定对象调研 □分析师会议 \n□业绩说明会 \n□新闻发布会 ■路演活动 \n□一对一沟通 | | | 广发证券： | 嵇文欣 | | | 国泰基金： | 郑有为、陆经纬、樊利安、王琳、赵大震 | | 参与单位名称及 人员姓名 | 交银施罗德：陈骏、陈均峰 | | | | 太平资产： | 王紫艳、代婧 | | | 华宝基金： | 蔡目荣、胡戈游、夏林峰、吴心怡、卢毅 | | 时 间 | 2021 年 3 月 16 | | | | | | | 地 点 | 上海市 | | | 上市公司接待人 员 ...

编号：2021-005 1 证券代码：300132 证券简称：青松股份 福建青松股份有限公司 投资者关系活动记录表 | --- | --- | --- | |-------------------------|---------------------------------------------------|--------------------------------------------------------------------------------------| | | □特定对象调研 | □分析师会议 | | | □媒体采访 ■业绩说明会 | | | 投资者关系活动 | □新闻发布会 □路演活动 | | | 类别 | □现场参观 □一对一沟通 | | | | □其他 | | | 参与单位名称及 人员姓名 | 通过全景网参与公司 | 2020 年度网上业绩说明会的广大投资者 | | | | | | 时 间 | 2021 年 5 月 12 日 | 15:00-17 ： 00 | | 地 点 | 网络交流——全景•路演天下（ | http://rs.p5w.net ） | | 上市公司接待人 ...

编号：2021-007 证券代码：300132 证券简称：青松股份 福建青松股份有限公司 投资者关系活动记录表 | --- | --- | --- | |-----------------------------|----------------------------------------------|---------------------------------------------------------------------------------------------------| | | □ 特定对象调研 □ | 分析师会议 | | | □ 媒体采访 □ | 业绩说明会 | | 投资者关系活动 | □ 新闻发布会 □ | 路演活动 | | 类别 | □ 现场参观 □ | 一对一沟通 | | | ■ 其他 （电话交流会） | | | 主要参与单位名 称及人员姓名 | 详细请参见附件 1 | 《参会人员名单》 | | 时 间 | 2021 年 11 月 01 日下午 | | | 地 点 | 电话交流 | | | 上市公司接待人 | | 公司总裁范展华、董事会秘书骆棋辉、财务总监汪玉聪、诺斯 ...

Goodwill and Impairment - The goodwill from the acquisition of 90% of Nosber Cosmetics Co., Ltd. amounted to CNY 1.366 billion, with an impairment provision of CNY 913 million recorded in 2021, and an additional impairment of CNY 453 million in 2022 due to underperformance[1] - A goodwill impairment provision of 452.70 million yuan was required for Norsebel as of September 2022, reflecting the need for adjustments based on the revised earnings outlook[51] - The discount rate for Norsebel's goodwill asset group increased due to significant losses in 2022, raising the specific risk parameter from 1% to 3%[50] - The company has conducted timely goodwill impairment tests, with the latest assessment indicating clear signs of impairment as of Q3 2022[60] Revenue and Sales Performance - The total revenue for Nosber in the first three quarters of 2022 was CNY 965.94 million, a decline from CNY 1.612 billion in 2021, reflecting a decrease of approximately 40%[7] - The sales revenue from the facial mask series in the first three quarters of 2022 was CNY 383.97 million, accounting for 39.76% of total revenue, down from 49.88% in 2019[7] - The wet wipes series saw a revenue drop from CNY 574.12 million in 2020 to CNY 225.10 million in the first three quarters of 2022, reflecting a significant decline in export orders[7] - In the first three quarters of 2022, the company's revenue was CNY 145,469.72 million, a decrease of 18.33% compared to CNY 178,115.07 million in the same period last year[13] - The company's revenue for 2023 is projected to be RMB 249,438 million, representing a growth of 17.5% from 2022[56] Profitability and Margins - The operating profit for the same period was CNY -15,284.51 million, down from CNY 1,678.08 million, representing a decline of CNY 16,962.59 million[13] - The gross profit margin fell to 3.90%, down 8.74% from 12.64% in the previous year[13] - The net profit for the first three quarters was CNY -13,201.69 million, a decrease of CNY 14,335.96 million compared to a net profit of CNY 1,134.27 million in the same period last year[13] - The gross margin for the skincare series dropped from 24.14% in 2019 to 1.98% in 2022, indicating rising costs and changing product mix[9] - The gross profit margin is expected to increase to 12.65% in 2023, up from 10.01% in 2022[56] Cost and Expense Management - The company faced increased costs due to capacity expansion, rising labor costs, and material price hikes, contributing to the overall decline in gross margins across product lines[10] - The company reported a significant increase in material costs due to rising prices of raw materials, impacting profit margins[14] - Interest expenses increased to CNY 2,085.40 million, up CNY 1,202.61 million year-on-year, primarily due to increased borrowing for expansion[15] - Total expenses for 2023 are projected at RMB 4,660.47 million, representing 2.20% of the operating revenue[30] Market Conditions and Industry Trends - The overall market conditions, including commodity price fluctuations and ongoing pandemic effects, have hindered the expected performance from newly added capacities since the second half of 2020[8] - The company is facing challenges due to industry pressures, including regulatory changes and macroeconomic factors, leading to a decline in order volume[14] - Competitors in the industry, such as Jiahen Jiahua and Anter Co., have also reported significant declines in operating and net profits, indicating a broader industry trend[19] - In the first nine months of 2022, the cosmetics industry faced a decline in revenue due to strict pandemic control measures, resulting in a significant drop in demand[46] Future Projections and Financial Outlook - The projected operating revenue for Q4 2022 is RMB 46,466.69 million, with a growth rate of 10.57% for 2023[27] - The estimated operating profit before tax for 2023 is RMB -4,657.65 million, improving to RMB 3,156.10 million in 2024[27] - The forecasted free cash flow for 2026 is RMB 30,931.29 million, with a perpetual growth rate of 0%[27] - The company's operating revenue is expected to recover steadily, reaching RMB 315,532.10 million by 2026, with a projected EBIT margin improving from -5.80% in Q4 2022 to 6.94% in 2026[32] - The company anticipates continued losses in the short term, with expectations of profitability only after significant declines from historical levels[42] Research and Development - Research and development expenses are projected to total RMB 9,465.96 million by 2026, with a steady decrease in the percentage of revenue from 7.03% in Q4 2022 to 4.32% in 2026[31] - The company plans to maintain a stable R&D expense ratio, ensuring compliance with high-tech enterprise certification standards[32] Financial Metrics and Ratios - The average debt-to-equity ratio of comparable companies is 22.17%, which will inform the company's target capital structure moving forward[37] - The market risk premium is calculated at 7.19%, with the market return at 9.95% and the risk-free rate at 2.76%[38] - The weighted average cost of capital (WACC) is determined to be 10.54% (after tax) and 12.23% (before tax)[39]

Financial Performance - The company's revenue for Q3 2022 was ¥726,235,172.74, a decrease of 3.71% compared to the same period last year, and a year-to-date revenue of ¥2,142,303,223.85, down 19.61% year-on-year [4]. - The net profit attributable to shareholders for Q3 2022 was -¥498,561,000.02, a decline of 704.35%, with a year-to-date net profit of -¥657,077,350.85, down 653.82% compared to the previous year [4]. - Total operating revenue for Q3 2022 was ¥2,142,303,223.85, a decrease of 19.5% compared to ¥2,664,857,342.42 in the same period last year [32]. - The net profit attributable to shareholders of the parent company was a loss of ¥657,077,350.85, compared to a profit of ¥118,644,075.28 in Q3 2021 [33]. - The total comprehensive income for Q3 2022 was a loss of ¥653,480,726.70, compared to a profit of ¥118,082,263.99 in Q3 2021 [33]. - Basic and diluted earnings per share were both -¥1.2720, compared to ¥0.2297 in the same period last year [33]. Assets and Liabilities - The company's total assets decreased by 18.97% from the end of the previous year to ¥3,719,974,274.32 [6]. - The equity attributable to shareholders decreased by 31.30% to ¥1,467,095,585.10 compared to the end of the previous year [6]. - The total current assets decreased from 2.63 billion yuan at the beginning of the year to 2.32 billion yuan by September 30, 2022, reflecting a decline of approximately 11.8% [29]. - The total liabilities decreased from 2.46 billion yuan at the beginning of the year to 2.25 billion yuan, indicating a reduction of about 8.5% [30]. - The non-current assets decreased from 1.96 billion yuan to 1.40 billion yuan, reflecting a reduction of approximately 28.5% [30]. - The company's total assets decreased from 4.59 billion yuan to 3.72 billion yuan, a decline of about 19% [30]. Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥264,277,354.20, an increase of 321.38% compared to the previous year [4]. - Operating cash flow net amount for the first nine months of 2022 was ¥264,277,354.20, a substantial increase of 321.38% from the same period last year, mainly due to reduced payments for material procurement and employee compensation [16]. - The net cash flow from investment activities increased to ¥52,085,724.07, a rise of 137.45%, attributed to decreased expenditures on fixed and intangible assets [16]. - The net cash flow from financing activities decreased to -¥178,282,535.63, a decline of 166.64%, primarily due to reduced borrowing and increased guarantee payments [16]. - The company reported a significant increase in cash and cash equivalents, reaching ¥160,373,673.97, up 1,921.76% compared to the previous year, mainly due to reduced expenditures on operating activities and asset construction [16]. - Cash and cash equivalents at the end of the period increased to ¥731,793,498.34, up from ¥522,555,180.85 at the end of Q3 2021 [38]. Expenses and Impairments - The company recorded a substantial increase in credit impairment losses, amounting to -¥6,250,672.98, reflecting a 32,965.38% change due to provisions for bad debts [14]. - The company reported an asset impairment loss of ¥505,812,456.50, a significant increase of 30,853.35% compared to the previous period, primarily due to goodwill and equipment impairment [15]. - The income tax expense for the period was -¥46,366,300.36, a decrease of 285.95% year-on-year, primarily due to a reduction in total profit [15]. - The company experienced a significant increase in financial expenses, with interest expenses rising to ¥48,396,215.49 from ¥29,361,395.86 in the previous year [32]. - Research and development expenses were ¥91,259,333.62, slightly up from ¥90,192,385.71 in the same period last year [32]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 29,589, with the top ten shareholders holding significant stakes [18]. - The largest shareholder, Norsbel (Hong Kong) Nonwoven Products Co., Ltd., held 9.17% of the shares, amounting to 47,392,045 shares [18]. Strategic Changes - The company plans to divest 100% equity of two subsidiaries to focus on the cosmetics and consumer goods sectors, with two interested parties having submitted their intent to acquire [24]. - The company intends to issue A-shares to a specific individual, which will result in a change of control, as the individual will become the controlling shareholder [25]. Other Financial Metrics - The company experienced a foreign exchange gain of ¥22,293,131.33, a remarkable increase of 2,010.01%, mainly due to fluctuations in the RMB to USD exchange rate [16]. - The investment income increased significantly by 591.40% to ¥288,816.55, attributed to returns from bank financial products [14]. - The company received operating income of ¥571,209.30, an increase of 109.45% from the previous period, mainly due to compensation received during the current period [15]. - The company reported a significant increase in deferred tax assets by 155.40% to ¥76,795,099.40, mainly due to increased unamortized losses and impairment provisions [12].

Financial Performance - The company's operating revenue for the first half of 2022 was ¥1,416,068,051.11, a decrease of 25.89% compared to ¥1,910,672,940.84 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was -¥158,516,350.83, representing a decline of 187.76% from ¥180,627,074.82 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was -¥161,866,961.09, down 191.12% from ¥177,642,817.49 in the same period last year[21]. - The net cash flow from operating activities was ¥76,802,994.95, a decrease of 12.97% compared to ¥88,246,943.97 in the previous year[21]. - The total assets at the end of the reporting period were ¥4,330,771,778.57, down 5.66% from ¥4,590,769,337.03 at the end of the previous year[21]. - The net assets attributable to shareholders of the listed company were ¥1,965,561,687.05, a decrease of 7.96% from ¥2,135,452,390.48 at the end of the previous year[21]. - The basic earnings per share were -¥0.3069, compared to ¥0.3497 in the same period last year, reflecting a decline of 187.76%[21]. - The diluted earnings per share were also -¥0.3069, down 187.76% from ¥0.3497 in the previous year[21]. - The weighted average return on equity was -7.73%, a decrease of 13.36% from 5.63% in the same period last year[21]. - The company achieved operating revenue of 1,416.07 million yuan, a year-on-year decrease of 25.89%[86]. - The net profit attributable to shareholders was -158.52 million yuan, a year-on-year decrease of 187.76%[86]. - The cosmetics subsidiary, Norsbel, reported operating revenue of 957.05 million yuan, down 23.74% year-on-year[87]. - The gross profit margin for Norsbel was 2.58%, a decrease of 14.48 percentage points year-on-year[87]. - The pine oil deep processing business generated operating revenue of 453.79 million yuan, a year-on-year decline of 30.80%[90]. - The gross profit margin for the pine oil deep processing business was 9.12%, down 21.08 percentage points year-on-year[91]. Market Trends and Challenges - The domestic cosmetics market has grown from 204.9 billion RMB in 2015 to 402.6 billion RMB in 2021, with a compound annual growth rate (CAGR) of 11.92%[31]. - In the first half of 2022, the total retail sales of cosmetics in China amounted to 190.5 billion RMB, a year-on-year decline of 2.5%[31]. - The per capita consumption of cosmetics in China was 62.9 USD in 2021, significantly lower than the 260-300 USD in the US, UK, Japan, and South Korea, indicating substantial growth potential[34]. - The cosmetics industry in China is expected to grow at a CAGR of 7.8% from 2022 to 2026, with the market size projected to reach 844.3 billion RMB by 2026[34]. - The implementation of new regulations in the cosmetics industry is expected to increase entry barriers, benefiting companies with stronger R&D and cost control capabilities[36]. - The overall economic recovery in China has been slow, affecting consumer spending and leading to a decline in retail sales of consumer goods[31]. - The cosmetics industry is experiencing intensified competition with the rise of domestic brands and e-commerce, alongside the expansion of international brands into the Chinese market[30]. - The company faces challenges from rising prices of raw materials and packaging due to PPI increases and supply chain adjustments, impacting production and sales[41]. - The company is facing increased competition in both the cosmetics and turpentine deep processing sectors, which could adversely affect market share and sales revenue[137]. Research and Development - The company is committed to continuous innovation and R&D to develop high-quality products that are competitive in the market[54]. - The company reported a significant focus on R&D for new technologies and products, enhancing its competitive edge in the skincare and hygiene markets[62]. - The company has developed over 770 new and stable formulas during the reporting period, with more than 250 formula registrations completed[98]. - Northbell's R&D team consists of over 230 professionals, focusing on innovative product development across various categories, including skincare and masks[96]. - The company has launched multiple new product lines, including a series of nano quick-dissolving essence masks and a premium water lotion series, responding to market trends[97]. - Northbell has obtained 129 patents, including 30 invention patents, enhancing its competitive edge through differentiated product offerings[98]. - The company has established advanced R&D centers and international standard production bases to provide professional cosmetic production services to numerous brands[48]. Production and Operations - The company has expanded its product range to include various hygiene and cleaning products, such as Clinell gamma disinfectant wipes and baby wipes, targeting diverse market segments[59]. - Norsbel's product categories include facial masks, skincare products, wet wipes, and non-woven fabric products, with facial masks being a significant revenue contributor[48][49]. - Norsbel has established a new production line for nano electrospun masks during the reporting period[84]. - Norsbel's production strategy is centered on self-production, supplemented by outsourcing for specific processes like mask fabric printing and sterilization, allowing for high-quality product output[71]. - Northbell operates 55 automatic mask filling and packaging production lines, demonstrating strong manufacturing capabilities to meet large-scale orders[101]. - The company has a diverse customer base, including international brands like Unilever and Procter & Gamble, which supports sustainable growth through reliable orders[93]. Environmental Compliance - The company reported a total wastewater discharge of 2.408 tons, with a chemical oxygen demand concentration of 44.39 mg/L, adhering to the GB8978-1996 Level 4 standard[152]. - The company achieved a total sulfur dioxide emission of 28.15 tons, with a concentration of 98.98 mg/m³ from the flue gas treatment system[152]. - The nitrogen oxides emissions totaled 68.65 tons, with a concentration of 241.33 mg/m³, complying with the GB13271-2014 standard[152]. - The company’s particulate matter emissions were recorded at 4.49 tons, with a concentration of 15.79 mg/m³ from a 60-meter high chimney[152]. - The company has no reported instances of exceeding emission standards during the reporting period[153]. - The company has implemented strict rain and sewage diversion measures, ensuring that production wastewater is collected and treated[157]. - The company has installed online monitoring devices at wastewater and exhaust emission outlets to ensure compliance with environmental standards[158]. - The company has undertaken measures to reduce carbon emissions, including the recovery of condensate water and the introduction of energy-efficient equipment[167]. Strategic Initiatives - The company plans to enhance environmental protection measures in response to stricter regulations, which may increase operational costs[139]. - The company is committed to monitoring exchange rate fluctuations and exploring financial instruments to mitigate risks associated with currency volatility[140]. - The company is constructing a large industrial park with a total area of 98,858.7 square meters for production, office, and R&D purposes[85]. - The company has established a joint laboratory with Fuzhou University and a "production-study-research" cooperation model with Wuyi University to enhance technology development and talent training[103]. - The company is committed to expanding its market presence through strategic partnerships and product diversification, aiming for sustained growth in the competitive landscape[67]. Corporate Governance - The company has fulfilled all commitments made by actual controllers and shareholders during the reporting period[172]. - There are no instances of non-operating fund occupation by controlling shareholders or related parties during the reporting period[173]. - The company has not engaged in any violations regarding external guarantees during the reporting period[174]. - The semi-annual financial report for the company has not been audited[175]. - The company has not engaged in poverty alleviation or rural revitalization efforts during the reporting period[169]. - There are no significant lawsuits or arbitration matters reported during the period, ensuring no major adverse impact on the company's operations[178]. - The company has not distributed cash dividends or issued new shares from capital reserves during the reporting period, indicating a focus on retaining earnings[147].

福建青松股份有限公司 2022 年第一季度报告 证券代码：300132 证券简称：青松股份 公告编号:2022-032 福建青松股份有限公司 2022 年第一季度报告 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.第一季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 福建青松股份有限公司 2022 年第一季度报告 | | 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） | 4,521,474,053.25 | 4,590,769,337.03 | | -1.51% ...

Financial Performance - The company reported a significant decline in annual performance for 2021, with specific reasons and improvement measures detailed in the management discussion section[4]. - The company plans not to distribute cash dividends, issue bonus shares, or increase capital using reserves[5]. - The company has not disclosed specific financial figures or performance metrics in the provided documents, indicating a need for further detailed financial analysis[4]. - The company's operating revenue for 2021 was approximately ¥3.69 billion, a decrease of 4.44% compared to ¥3.86 billion in 2020[21]. - The net profit attributable to shareholders was a loss of approximately ¥911.67 million, a decline of 297.85% from a profit of ¥460.80 million in 2020[21]. - The net cash flow from operating activities was approximately ¥44.20 million, down 94.52% from ¥805.84 million in 2020[21]. - The total assets at the end of 2021 were approximately ¥4.59 billion, a slight decrease of 0.78% from ¥4.63 billion at the end of 2020[21]. - The net assets attributable to shareholders decreased by 31.87% to approximately ¥2.14 billion from ¥3.13 billion in 2020[21]. - The company reported a basic and diluted earnings per share of -¥1.7648 for 2021, compared to ¥0.8920 in 2020[21]. - The company experienced a significant decline in the weighted average return on equity, dropping to -34.70% from 14.86% in 2020[21]. - In Q4 2021, the company reported a net profit loss of approximately ¥1.03 billion, following a loss of ¥61.98 million in Q3[24]. Market and Industry Trends - The cosmetics market in China reached a consumption scale of approximately ¥402.6 billion in 2021, with a year-on-year growth of 14%[35]. - The import value of beauty and personal care products increased by 23.1% in 2021, indicating intensified competition in the domestic cosmetics market[35]. - The cosmetics industry is experiencing short-term pressure due to the pandemic, but the long-term growth trend remains unchanged[38]. - In 2021, over 886,000 cosmetics-related companies were deregistered, marking an 18% year-on-year increase[40]. - The implementation of the Cosmetics Supervision and Administration Regulations on January 1, 2021, has raised the entry barriers for cosmetics manufacturers[39]. - Rising raw material prices, high shipping costs, and increased labor costs are compressing profit margins for cosmetics manufacturers[38]. - The e-commerce channel continues to grow rapidly, driven by the rise of influencer marketing and live streaming, enhancing consumer awareness of cosmetics[45]. - The long-term outlook for the cosmetics industry is positive, supported by the increasing proportion of young consumers and the ongoing upgrade of high-end brand consumption[38]. - The new regulatory environment is expected to accelerate industry consolidation, benefiting companies with strong R&D and cost control capabilities[40]. Company Operations and Structure - The company operates several wholly-owned subsidiaries, including Nosbel Cosmetics and Guangdong Nosbel Health Care, which may contribute to its overall business strategy[13]. - The company has a dedicated investor relations team to handle inquiries and maintain communication with stakeholders[18]. - The company’s annual report is available on the Shenzhen Stock Exchange website and other financial media platforms[19]. - The company has not reported any changes in its registered address, suggesting stability in its operational location[17]. - The company remains a leading player in the domestic pine oil deep processing industry, with a focus on synthetic camphor and related products[49]. - The cosmetics business is primarily operated by the subsidiary Norsbel, which is one of the largest comprehensive cosmetics manufacturers in China, focusing on ODM services for brand owners[52]. - The company has established a stable procurement network for raw materials, particularly for turpentine, to reduce costs and supply risks[76]. - The company has a strong customer loyalty, built through years of professional expertise and stable partnerships with well-known brands[75]. - The company has established strong partnerships with universities and research institutions to enhance its technology innovation capabilities[96]. Research and Development - The company is committed to continuous innovation and development of competitive products for its clients, enhancing market presence[60]. - Norsbel has a professional R&D team of over 290 people, with 99 patents held as of the reporting period[95]. - The company is developing new cosmetic products using recombinant proteins, which have shown significant efficacy in skin repair during internal testing[147]. - The company has implemented a new high-pressure micro-injection technology for the development of nano-liquid crystal carriers, enhancing product efficacy and stability[147]. - The company is focused on developing innovative cosmetic products with significant whitening effects using electrospun nanofibers[148]. - The company’s R&D investment in 2021 amounted to ¥124,233,355.99, representing 3.36% of total revenue, an increase from 3.20% in 2020[150]. - The company increased its R&D personnel from 336 in 2020 to 369 in 2021, representing a growth of 9.82%[149]. - The proportion of R&D personnel in the company rose from 4.25% in 2020 to 5.44% in 2021, an increase of 1.19%[149]. Financial Challenges and Risks - The company is facing potential risks in future operations, which are elaborated in the management discussion section[4]. - The company reported a goodwill impairment of RMB 913.43 million due to the acquisition of 90% of Norsbel, significantly affecting annual operating performance[198]. - The company faces risks from fluctuating raw material prices, particularly in the cosmetics sector, which could impact profit margins if costs cannot be passed to customers[190]. - The company has established a data analysis team to quickly respond to market trends and consumer changes, utilizing a million-data system for product selection decisions[104]. - The company has a long-term foreign trade operator registration, ensuring compliance with international trade regulations[100]. Production and Manufacturing - The company has a strong manufacturing capability with 43 sets of vacuum emulsification equipment and 55 automatic filling and packaging production lines, enhancing production efficiency[113]. - The company emphasizes quality control, ensuring that each batch of products undergoes rigorous quality inspections before being stored or sold[77]. - The company has completed the expansion project for Norsbel, adding 14 skincare production lines with an annual capacity of 9,470 tons, and 39 wet wipe production lines with an annual capacity of 19.2 billion pieces[86]. - The synthetic camphor expansion project has been completed, with an annual production capacity of 5,000 tons[90]. - The company has implemented a strict quality control system, achieving multiple management system certifications including ISO9001 and ISO14001[111]. Strategic Goals and Future Plans - The company aims to strengthen its market position through product diversification and strategic partnerships in the cosmetics industry[60]. - The company plans to extend its industrial chain and leverage its chemical industry foundation to tap into the vast market potential of the cosmetics sector[176]. - The company aims to drive product innovation through strong R&D capabilities and advanced production processes to create new profit growth points[176]. - The company aims to become an international first-class cosmetics manufacturing service provider, focusing on customer needs and increasing R&D investment for new product development[179]. - The company will strengthen its core technology innovation and increase R&D and technological transformation investments to improve industry competitiveness[184]. - The company will actively explore the cosmetics industry chain through team integration, project investment, and external mergers and acquisitions[185].

福建青松股份有限公司 2021 年第三季度报告 证券代码：300132 证券简称：青松股份 公告编号:2021-066 福建青松股份有限公司 2021 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 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | | 本报告期比 | | 年初至报告 | | --- | --- | --- | --- | --- | | | 本报告期 | 上年同期增 | 年初至报告期末 | 期末比上年 | | | | 减 | | 同期增减 | | 营业收入（元） | 754,184,401.58 | -21.29% | 2,664,857,34 ...

Financial Performance - The company's operating revenue for the first half of 2021 was ¥1,910,672,940.84, representing a 6.45% increase compared to ¥1,794,972,434.24 in the same period last year[22]. - The net profit attributable to shareholders of the listed company decreased by 20.08% to ¥180,627,074.82 from ¥226,019,516.29 in the previous year[22]. - The net cash flow from operating activities significantly dropped by 83.81%, amounting to ¥88,246,943.97 compared to ¥545,148,138.24 in the same period last year[22]. - Basic earnings per share decreased by 20.07% to ¥0.3497 from ¥0.4375 in the previous year[22]. - Total assets at the end of the reporting period were ¥4,839,987,755.14, an increase of 4.61% from ¥4,626,651,433.40 at the end of the previous year[22]. - The net assets attributable to shareholders of the listed company increased by 2.90% to ¥3,225,406,227.30 from ¥3,134,405,757.42 at the end of the previous year[22]. - The weighted average return on net assets decreased to 5.63% from 7.33% in the previous year, a decline of 1.70%[22]. - The company reported a total of ¥2,984,257.33 in non-recurring gains and losses during the reporting period[26]. - The company achieved a significant reduction in sales expenses, which decreased by 38.89% to ¥31,271,752.62, due to a reclassification of transportation costs[105]. - The company reported a significant increase in financial expenses by 81.70% to ¥22,702,083.82, mainly due to changes in leasing standards and foreign exchange losses[105]. Business Segments - The company operates primarily in two business segments: cosmetics design, R&D, and manufacturing, and deep processing of turpentine products[30]. - The cosmetics segment is mainly driven by its wholly-owned subsidiary, Norsbel, which focuses on masks, skincare products, and wet wipes[31]. - The cosmetics segment generated operating revenue of CNY 1,254.93 million, up 9.18% year-on-year, but operating profit fell by 52.97%[87]. - The deep processing business of turpentine achieved operating revenue of CNY 655.75 million, a growth of 1.57% year-on-year, with a gross margin of 30.20%, down 2.24%[90]. Market Trends - The skincare market in China saw a 6.58% year-on-year growth in 2020, with skincare products holding a 51.12% market share[34]. - The cosmetics market in China has grown from 204.9 billion RMB in 2015 to 340 billion RMB in 2020, with a compound annual growth rate (CAGR) of approximately 8.81%[68]. - In the first half of 2021, the retail sales of cosmetics in China reached 191.7 billion RMB, representing a year-on-year growth of 26.6%[68]. - The cosmetics industry in China is experiencing a significant increase in consumer spending on personal care, driven by rising income levels and heightened awareness of skincare[74]. - The retail channel for cosmetics has rapidly developed, with a notable increase in online penetration due to the rise of e-commerce platforms[72]. R&D and Innovation - The company has advanced R&D centers and international standard production bases to support its product offerings[36]. - The company’s R&D team consists of over 280 members, and it developed more than 700 new formulas during the reporting period, focusing on various textures, effects, and cost gradients[97]. - The company has established multiple joint R&D centers with universities, including a partnership with Jinan University and Zhejiang University, to enhance innovation in product development[96]. - The company has a total of 77 patents, including 24 invention patents and 42 utility model patents, with 1 new invention patent and 11 utility model patents added during the reporting period[97]. - Norsbel continues to innovate and develop competitive products for its downstream clients, enhancing its market position[42]. Production and Quality Control - The production of high-quality masks, skincare products, and wet wipes is primarily conducted in-house, supplemented by outsourced processes for specific tasks[56]. - The company emphasizes strict procurement management to ensure the quality of raw materials, which significantly impacts the quality of cosmetic products[55]. - The company has established a comprehensive quality control system, certified by multiple international standards, ensuring high product quality throughout the production process[98]. - The company has a strong production capacity with 40 sets of vacuum emulsification equipment and 55 automatic mask filling and packaging production lines, among others[99]. - The company emphasizes production safety and quality control, ensuring that each batch of products meets rigorous inspection standards before being released for sale[62]. Environmental Responsibility - The company is classified as a key pollutant discharge unit by environmental protection authorities[149]. - The wastewater treatment station of Longsheng Fragrance has a daily processing capacity of 1,000 tons, handling approximately 500 tons of wastewater per day during the reporting period[155]. - The company has signed an agreement with Longsheng Fragrance to ensure that the daily wastewater discharge from Qingsong Chemical does not exceed 500 tons, which is processed and discharged after treatment[155]. - The company has implemented strict rainwater and sewage separation measures across its facilities to enhance wastewater management[155]. - The company has established emergency response plans for environmental incidents, ensuring preparedness for hazardous material leaks and other emergencies[163]. Strategic Initiatives - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company is actively investing in R&D to adapt to new regulations in the cosmetics industry, enhancing customer loyalty[87]. - The company plans to adjust its industrial structure and strengthen R&D innovation to maintain stable and high-quality development amid external economic challenges[131]. - The company has developed a multi-channel sales model, achieving certifications in major global markets including the USA, EU, and Japan[63]. - The company has established long-term partnerships with over 30 global raw material suppliers, ensuring stable supply and quality[93]. Risks and Challenges - The company faces potential risks in its future operations, which are detailed in the report[5]. - The company’s cosmetics business is facing increased competition due to the rapid growth of the industry, which may impact its market share and operational performance[134]. - The company’s products are subject to quality control risks, particularly in the cosmetics sector, which could lead to consumer complaints and affect brand reputation[135]. - The company faces goodwill impairment risks related to its acquisition of 90% of Nosber, which could negatively impact future financial performance if market conditions worsen[139]. - The company is actively monitoring raw material price fluctuations, particularly for turpentine, which is critical for its deep processing business[132].