Financial Performance - The company's operating revenue for Q1 2022 was ¥1,160,285,984.54, representing an increase of 18.31% compared to ¥980,712,004.59 in the same period last year[3] - Net profit attributable to shareholders of the listed company decreased by 82.30% to ¥14,733,487.68 from ¥83,233,016.23 year-on-year[3] - Basic and diluted earnings per share dropped by 80.00% to ¥0.01 from ¥0.05 in the same period last year[3] - Net profit for the current period was ¥15,825,368.25, a significant decrease from ¥83,109,624.73 in the previous period, reflecting a decline of approximately 80.0%[19] - The company recorded a total profit of ¥17,259,148.67, down from ¥97,034,287.24, indicating a decline of approximately 82.2%[19] Cash Flow - The net cash flow from operating activities was -¥218,406,067.43, a decline of 73.45% compared to -¥125,921,795.22 in the previous year[3] - Cash flow from operating activities showed a net outflow of ¥218,406,067.43, worsening from a net outflow of ¥125,921,795.22 in the previous period[24] - Investment activities generated a net cash outflow of ¥206,184,800.91, slightly improved from a net outflow of ¥206,327,604.12 in the previous period[24] - The net cash inflow from investment activities was ¥195,667,000.48, compared to ¥19,014,712.33 in the previous period, showing a substantial increase[24] - The net cash flow from financing activities was CNY 246,408,060.75, an increase of 96.5% compared to CNY 124,783,335.57 in the previous period[25] Assets and Liabilities - Total assets increased by 3.14% to ¥8,632,336,655.44 from ¥8,369,431,194.27 at the end of the previous year[3] - The company's total liabilities reached CNY 3,473,860,200.14, compared to CNY 3,225,525,795.20 at the beginning of the year, indicating an increase of approximately 7.7%[14] - The company's current assets totaled CNY 2,677,689,038.44, up from CNY 2,434,423,982.72 at the start of the year, indicating a growth of approximately 10%[12] - Short-term borrowings surged to CNY 1,119,720,474.30, up from CNY 802,027,103.88, representing a rise of about 39.5%[14] - The company's cash and cash equivalents decreased to CNY 301,258,640.52 from CNY 480,799,076.35, a decline of about 37.4%[12] Sales and Revenue - The accounts receivable increased by 78.08% to ¥628,922,294.20 from ¥353,170,068.25 year-on-year, indicating a significant rise in sales revenue[6] - The company reported a decrease in sales revenue from customers, totaling ¥700,155,433.45 compared to ¥843,169,343.76 previously, a decline of about 17%[24] - Total operating costs amounted to ¥1,143,941,222.95, up from ¥887,508,354.02, indicating a rise of about 29%[18] Research and Development - Research and development expenses increased to ¥60,946,626.57 from ¥46,085,282.66, marking a growth of around 32.3%[18] Government Support - The company received government subsidies amounting to ¥13,924,994.91 during the reporting period[5] Challenges - The company is currently facing challenges in fulfilling customer orders due to the impact of COVID-19 on logistics and domestic consumption[11] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 38,671[9] Audit Information - The company did not conduct an audit for the first quarter report[26]

Financial Performance - The company's operating revenue for 2021 was CNY 4,142,226,881.40, representing a 28.68% increase compared to CNY 3,219,104,576.06 in 2020[27]. - The net profit attributable to shareholders in 2021 was CNY 62,696,942.76, a significant recovery from a loss of CNY 483,895,415.12 in 2020, marking a 112.96% increase[27]. - The net cash flow from operating activities for 2021 was CNY 461,308,374.59, down 26.48% from CNY 627,501,423.18 in 2020[27]. - The total assets at the end of 2021 amounted to CNY 8,370,688,142.00, reflecting a 3.92% increase from CNY 8,055,027,726.26 at the end of 2020[27]. - The basic earnings per share for 2021 was CNY 0.04, a turnaround from a loss of CNY 0.28 per share in 2020, representing a 114.29% improvement[27]. - The company reported a weighted average return on equity of 1.23% in 2021, recovering from -9.48% in 2020[27]. - The total net assets attributable to shareholders at the end of 2021 were CNY 5,141,886,191.32, a slight increase of 1.21% from CNY 5,080,381,015.86 at the end of 2020[27]. - The company reported a significant decrease in investment activity cash inflow by 81.50%, primarily due to reduced redemptions of financial products from a subsidiary[76]. - The company reported a net profit attributable to shareholders of RMB 62,696,942.76 for the fiscal year 2021[187]. - The total distributable profit for the year was RMB 60,048,750.67, with no cash dividends or stock bonuses proposed[187]. Revenue Breakdown - The company achieved a main business revenue of CNY 4,142,226,881.40 in 2021, representing a year-on-year growth of 28.68%[50]. - Revenue from technology development projects for Weifutong has seen significant growth due to increasing demand for digital transformation in banks[51]. - Revenue from the manufacturing sector was ¥3,647,054,043.72, accounting for 88.05% of total revenue, with a year-on-year growth of 32.93%[58]. - Revenue from ultra-fine fiber substrates was ¥2,236,776,993.00, representing 54.00% of total revenue, with an 18.26% increase year-on-year[54]. - The revenue from mobile payment services was ¥135,218,247.81, showing a decrease of 10.08% compared to the previous year[54]. - The company reported a 33.52% increase in physical sales revenue, totaling ¥3,415,577,007.05 for 2021[59]. - The digital marketing business of Weifutong has expanded its partnerships to over 120 banks, including new collaborations with major banks in 2021[50]. Market Expansion and Strategy - The company plans to continue expanding its market presence and invest in new product development to drive future growth[6]. - The company aims to expand its market presence in the digital banking and financial services sectors, focusing on innovative products and solutions to meet the growing demand for digitalization[44]. - The company has positioned itself as a key player in the mobile payment sector, providing comprehensive solutions to banks and third-party payment companies, enhancing its competitive edge[44]. - The company is focusing on high-end product systems to further open up growth space in the ultra-fiber market[45]. - The company aims to enhance its digital transformation services for banks, with a focus on providing comprehensive solutions to meet the growing demand for online banking services[124]. - The company plans to enhance its market share and profitability in the ultra-fiber industry as the Jiangsu ultra-fiber 50 million meters refinancing project reaches full production, which is expected to increase industry concentration[118]. Research and Development - Research and development expenses amounted to ¥201,029,889.30, a 14.88% increase compared to the previous year, with R&D investment accounting for 4.85% of operating income[69][72]. - The number of R&D personnel increased by 12.62% to 696, with R&D personnel accounting for 33.87% of the total workforce[72]. - The company has a strong focus on R&D, with key personnel involved in new product development and technology innovation[153]. Governance and Compliance - The company has optimized its governance structure, ensuring compliance with relevant laws and regulations, and has maintained a standardized operation by the end of the reporting period[130]. - The board of directors consists of 10 members, including 4 independent directors, and has adhered to legal and regulatory requirements in its composition and operations[131]. - The company has established various committees under the board, with independent directors holding more than half of the positions, enhancing decision-making capabilities[132]. - The company has implemented a performance evaluation and incentive mechanism for directors and senior management, ensuring transparency and compliance with legal standards[132]. - The company has maintained effective internal controls and established an internal audit department to oversee financial reporting and compliance[136]. - The company has not faced any disciplinary actions from regulatory bodies regarding internal control issues during the reporting period[137]. Employee and Management - The company had a total of 2,055 employees at the end of the reporting period, with 825 in production, 154 in sales, and 696 in technical roles[179]. - The management team includes experienced professionals with backgrounds in finance and engineering, enhancing the company's strategic capabilities[156]. - The company has established a performance-based compensation structure for its executives, aligning incentives with company performance[158]. - The company has not proposed any cash dividends for 2021 due to previous losses of RMB -483,895,415.12 in 2020 and rising costs in 2022[190]. Subsidiaries and Investments - The subsidiary Jiangsu Ultra-fiber had total assets of approximately RMB 602.10 million and net profit of RMB 153.04 million, contributing significantly to the company's overall performance[117]. - The subsidiary Weifutong reported total revenue of approximately RMB 495.41 million and net profit of RMB 33.08 million during the reporting period[117]. - The company has established a joint venture with Tesca to launch the high-end brand "Laedana," focusing on customized and personalized ultra-fiber materials for the automotive interior market[122]. Future Outlook - Future outlook indicates a commitment to enhancing product offerings and leveraging technological advancements[156]. - The company is committed to sustainable practices and innovation in its product lines[156].

Financial Performance - The company's revenue for Q3 2021 was ¥1,139,674,102.30, representing a 13.70% increase year-over-year, while the year-to-date revenue reached ¥3,114,973,535.20, up 48.95% compared to the same period last year[6] - Net profit attributable to shareholders for Q3 2021 was ¥41,986,778.74, a decrease of 62.24% year-over-year, with a year-to-date net profit of ¥156,506,857.38, down 1.14% compared to the previous year[6] - The total comprehensive income attributable to the parent company was ¥156,509,369.05, compared to ¥158,227,956.71 in the previous period, reflecting a decrease of 1.4%[34] - Net profit attributable to the parent company was ¥156,506,857.38, slightly down from ¥158,318,227.45 in the previous period, representing a decrease of 1.0%[31] - The basic earnings per share for Q3 2021 was ¥0.02, a decrease of 66.67% compared to the same period last year[6] - The company reported a basic and diluted earnings per share of ¥0.09, unchanged from the previous period[34] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥163,306,964.26, reflecting a significant decline of 66.51%[6] - Cash inflow from operating activities totaled ¥2,279,044,043.13, an increase from ¥2,155,305,955.28 in the previous period[35] - Operating cash flow outflow totaled $2.12 billion, compared to $1.67 billion in the previous period, indicating an increase of approximately 27%[37] - Net cash flow from operating activities was $163.31 million, down from $487.61 million, representing a decline of about 66%[37] - Cash inflow from investment activities was $24.55 million, significantly lower than $235.07 million, a decrease of approximately 90%[37] - Cash outflow for investment activities reached $380.72 million, compared to $853.31 million, reflecting a reduction of about 55%[37] - Net cash flow from financing activities was $38.57 million, a sharp decline from $420.01 million, indicating a decrease of approximately 91%[37] - Total cash and cash equivalents at the end of the period stood at $189.54 million, down from $530.07 million, a decrease of about 64%[37] - Cash inflow from financing activities was $1.42 billion, compared to $2.91 billion, a decrease of approximately 51%[37] - Cash outflow for financing activities was $1.38 billion, down from $2.49 billion, reflecting a reduction of about 45%[37] Assets and Liabilities - The total assets at the end of Q3 2021 amounted to ¥8,161,144,026.92, which is a 1.32% increase from the end of the previous year[6] - The total current assets increased to ¥2,376,530,718.48 from ¥2,289,487,774.17, reflecting a growth of approximately 3.8%[19] - Accounts receivable rose significantly to ¥598,967,157.21, up from ¥391,121,961.69, indicating a year-over-year increase of about 53.1%[19] - Inventory levels increased to ¥796,358,573.99 from ¥526,042,096.10, representing a growth of approximately 51.3%[22] - Total liabilities decreased slightly to ¥2,919,481,490.58 from ¥2,970,854,144.58, a reduction of approximately 1.7%[25] - The total liabilities and equity amounted to ¥8,161,144,026.92, an increase from ¥8,055,027,726.26 in the previous period[28] Operational Challenges - The company faced significant pressure from rising raw material prices and decreased downstream demand, leading to a substantial decline in performance during the quarter[9] - The company's net profit margin is under pressure due to rising raw material costs, which have been fluctuating at high levels since 2021[18] - The company is actively monitoring raw material price fluctuations to mitigate potential impacts on profitability[17] - The company faced risks related to environmental and safety production investments due to increasing regulatory requirements[17] - Future market demand may be impacted by government "dual control" policies, which could limit production capabilities[18] Production and Strategy - The company has been adjusting its production strategy by shifting some orders to its Shanghai facility to ensure timely delivery amid operational restrictions[9] - The company reported a government subsidy of ¥12,486,849.17 for the current period, contributing to the overall financial results[8] Research and Development - Research and development expenses for the current period were ¥155,903,023.33, up 37.8% from ¥113,085,595.33 in the previous period[28] Audit and Compliance - The company did not undergo an audit for the third quarter report[41]

Financial Performance - The company's revenue for Q3 2021 was ¥1,139,674,102.30, representing a 13.70% increase year-over-year, while year-to-date revenue reached ¥3,114,973,535.20, up 48.95% compared to the same period last year[4] - Net profit attributable to shareholders for Q3 2021 was ¥41,986,778.74, a decrease of 62.24% year-over-year, with year-to-date net profit at ¥156,506,857.38, down 1.14% compared to the previous year[4] - Basic earnings per share for Q3 2021 were ¥0.02, down 60.26% year-over-year, with diluted earnings per share also at ¥0.02, a decrease of 60.26%[4] - Total operating revenue for the current period reached ¥3,114,973,535.20, a significant increase of 48.9% compared to ¥2,091,245,649.59 in the previous period[26] - Net profit attributable to the parent company was ¥156,506,857.38, slightly down by 1.0% from ¥158,318,227.45 in the previous period[29] - The company experienced a decrease in total profit, which was ¥163,233,120.40, down from ¥183,803,159.43 in the previous period[29] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥163,306,964.26, reflecting a significant decline of 66.51%[4] - Cash inflow from operating activities totaled ¥2,279,044,043.13, an increase from ¥2,155,305,955.28 in the previous period[33] - Net cash flow from operating activities was $163.31 million, a decrease of 66.5% compared to $487.61 million in the previous period[36] - The ending balance of cash and cash equivalents was $189.54 million, a decrease from $530.07 million at the end of the previous period[36] - Cash flow from operating activities showed a significant decline, indicating potential challenges in operational efficiency[36] - The company reported a substantial reduction in cash inflow from investment activities, highlighting a shift in investment strategy or market conditions[36] - The financing activities reflect a decrease in capital raised compared to the previous period, which may impact future growth initiatives[36] Assets and Liabilities - Total assets at the end of the reporting period were ¥8,161,144,026.92, an increase of 1.32% from the end of the previous year[4] - The company's equity attributable to shareholders was ¥5,237,096,899.69, up 3.08% from the end of the previous year[4] - The total current assets increased to CNY 2,376,530,718.48 from CNY 2,289,487,774.17, reflecting a growth of approximately 3.83%[17] - Total liabilities decreased slightly to CNY 2,919,481,490.58 from CNY 2,970,854,144.58, showing a reduction of about 1.73%[23] Operational Challenges - The company faced significant pressure from rising raw material prices and decreased downstream demand, leading to a substantial decline in performance during Q3 2021[7] - The fluctuation in raw material prices poses a risk to the company's profitability if costs cannot be passed on to customers[15] - The company is navigating market demand risks due to government policies that may limit production capabilities[16] - The company faces risks related to environmental and safety production requirements, which may lead to increased costs[15] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 31,442, with the largest shareholder, Huafeng Group Co., Ltd., holding 9.07% of the shares[8] Investment and R&D - Research and development expenses for the current period were ¥155,903,023.33, up 37.8% from ¥113,085,595.33 in the previous period[26] Other Financial Metrics - The company reported a government subsidy of ¥12,486,849.17 for the current period, contributing to the overall financial results[6] - The company reported a decrease in investment income, with a loss of ¥2,182,443.05 compared to a gain of ¥1,747,529.64 in the previous period[29] - Other comprehensive income after tax attributable to the parent company was ¥2,511.67, recovering from a loss of ¥90,270.74 in the previous period[29] - The company did not undergo an audit for the third quarter report, which may affect the reliability of the financial data presented[39] - The company has not applied the new leasing standards, indicating a potential area for future financial adjustments[37] - The cash flow analysis suggests a need for strategic reassessment to improve liquidity and operational performance moving forward[36]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,975,299,432.90, representing an increase of 81.40% compared to CNY 1,088,906,448.61 in the same period last year[30]. - The net profit attributable to shareholders of the listed company reached CNY 114,520,078.64, a significant increase of 143.04% from CNY 47,119,890.21 in the previous year[30]. - The net profit after deducting non-recurring gains and losses was CNY 86,124,589.99, up 206.39% from CNY 28,109,483.02 in the same period last year[30]. - The basic earnings per share increased to CNY 0.07, reflecting a growth of 133.33% compared to CNY 0.03 in the previous year[30]. - The company's operating revenue for the reporting period reached ¥1,975,299,432.90, representing an 81.40% increase compared to ¥1,088,906,448.61 in the same period last year[53]. - The operating cost increased by 91.23% to ¥1,552,611,622.92, up from ¥811,912,911.90, primarily due to rising raw material prices[53]. - Research and development investment rose by 45.64% to ¥93,937,261.99, compared to ¥64,498,685.14 in the previous year, indicating increased focus on new product development[53]. - The gross profit margin for the ultra-fine fiber base reached 18.90%, with a revenue increase of 91.06% year-on-year[58]. - The company reported a significant decline in cash flow from operating activities, with a net cash outflow of ¥78,877,115.16 compared to a net inflow of ¥326,153,017.65 in the previous year, a decrease of 124.18%[53]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 8,148,452,986.38, a slight increase of 1.16% from CNY 8,055,027,726.26 at the end of the previous year[30]. - The net assets attributable to shareholders of the listed company were CNY 5,194,966,643.96, up 2.26% from CNY 5,080,381,015.86 at the end of the previous year[30]. - Total assets at the end of the reporting period were ¥8,155,000,000.00, with cash and cash equivalents at ¥185,329,417.93 (2.27%), down from ¥359,179,136.07 (4.46%) at the end of the previous year, a decrease of 2.19%[63]. - Accounts receivable increased to ¥661,257,950.33, representing 8.12% of total assets, up from ¥391,121,961.69 (4.86%), an increase of 3.26%[63]. - Inventory rose to ¥745,020,303.70, accounting for 9.14% of total assets, compared to ¥526,042,096.10 (6.53%), reflecting an increase of 2.61%[63]. - Short-term borrowings decreased to ¥727,500,000.00, representing 8.93% of total liabilities, down from ¥764,608,630.55 (9.49%), a decrease of 0.56%[66]. Market and Business Operations - The mobile payment sector, where the company operates through 威富通, has seen a transaction volume growth of 21.48% year-on-year, reaching 123.2 billion transactions in 2020[46]. - The company has expanded its services to cover six major state-owned banks, twelve national joint-stock banks, and nearly 200 rural commercial banks, as well as extending operations to over 50 countries and regions[45]. - The company’s core business remains focused on the research, production, and sales of ultra-fine fiber materials, which are widely used in various industries[40]. - The overall payment system in China has maintained stable growth, with non-cash payment transaction amounts increasing by 6.18% year-on-year[46]. - The automotive project achieved a sales growth of nearly 50% compared to the same period last year, with steering wheel sales increasing by 300%[91]. - The foreign trade department experienced a sales increase of approximately 40% year-on-year in the first half of 2021[91]. - The company successfully established partnerships with brands such as Da Zhi Cheng and LULULEMON, marking a breakthrough in collaborations with apparel and footwear brands[91]. Environmental and Social Responsibility - The company reported total emissions of 16.7 tons for chemical oxygen demand and 1.6 tons for ammonia nitrogen, all emissions met the standards[106]. - The company operates two wastewater treatment stations, effectively treating various types of production wastewater[110]. - The company has implemented multiple pollution control measures, including a 15m high exhaust stack for emissions[110]. - The company has established a general industrial solid waste storage area, a hazardous waste storage area, and a domestic waste storage area, all of which are operating well[113]. - The company has implemented a comprehensive emergency response plan for environmental incidents, which includes various specialized response plans and on-site disposal schemes[120]. - The company has maintained compliance with environmental discharge standards across all monitored pollutants[106]. - The company has a strong commitment to corporate social responsibility, focusing on innovation, safety, and sustainable development[125]. Corporate Governance and Shareholder Information - The company held its annual general meeting on June 17, 2021, with a participation rate of 33.56%[98]. - The company has no changes in its board of directors, supervisors, or senior management during the reporting period[99]. - The company’s major shareholder changed to Huafeng Group Co., Ltd., with a voting power of 486,861,202 shares, accounting for 27.65% of the total share capital[158]. - The company’s total share capital is 1,761,060,155 shares, with 75.84% being unrestricted shares[164]. - The total number of ordinary shareholders at the end of the reporting period was 29,095[168]. - The largest shareholder, Huafeng Group Co., Ltd., holds 9.07% of the shares, totaling 159,655,893 shares[169]. - The company has not engaged in any significant related party transactions during the reporting period[137]. - The company has not conducted any significant mergers or acquisitions during the reporting period[157]. - The company has not issued any new shares or conducted any public offerings during the reporting period[171].

Financial Performance - The net profit attributable to shareholders for 2020 was -483,895,415.12 CNY, significantly impacted by an impairment loss of 751,638,465.98 CNY related to goodwill from the acquisition of Weifutong[6]. - The company reported a significant drop in performance due to the impact of the pandemic on the market economy and payment industry[6]. - The company's operating revenue for 2020 was ¥3,219,104,576.06, a decrease of 0.66% compared to ¥3,240,344,131.19 in 2019[29]. - The net profit attributable to shareholders for 2020 was -¥483,895,415.12, representing a decline of 405.55% from ¥158,368,065.45 in 2019[29]. - The net cash flow from operating activities decreased by 17.19% to ¥627,501,423.18 in 2020 from ¥757,759,238.65 in 2019[29]. - The basic and diluted earnings per share for 2020 were both -¥0.28, a drop of 131.11% compared to ¥0.90 in 2019[29]. - The company reported a net profit excluding non-recurring items of -¥535,596,541.31 for 2020, a decrease of 403.65% from ¥176,384,560.07 in 2019[29]. - The company’s weighted average return on equity was -9.48% in 2020, down from 3.05% in 2019[29]. - The company reported a net profit attributable to shareholders of CNY 28,228,472.17 in Q1 2020, a significant decrease from CNY 79,308,236.66 in Q1 2019[58]. Market and Operational Challenges - The company faced a substantial decline in performance due to the pandemic, with a notable recovery in Q1 2021 as demand for digital banking solutions surged[9]. - The fluctuation in raw material prices, particularly for nylon and other chemical products, poses a risk to the company's operational performance[10]. - The company is facing risks related to market demand, influenced by macroeconomic conditions and changes in consumer behavior[10]. - The payment industry faced a decline in transaction volume from February to April 2020, but the company adapted by launching new products to meet changing merchant needs[53]. Strategic Initiatives - The company plans to enhance its environmental protection investments in response to increasing regulatory requirements and societal awareness[9]. - The company is transitioning to provide precise services for core banking clients' digital transformation needs, aiming to become a digital banking solution provider[9]. - The company plans to expand its market presence and enhance its product offerings in response to the changing regulatory environment in the mobile payment sector[42]. - The company aims to deepen cooperation with UnionPay and expand overseas business to create new profit growth points[42]. - The company intends to increase investment in innovative products such as cross-border e-commerce and supply chain finance to create new growth points[126]. - The company plans to enhance its core technology competitiveness and has made significant investments in new materials and technologies for sustainable development[79]. Revenue and Cost Structure - Revenue from the manufacturing sector accounted for 85.22% of total revenue, totaling CNY 2,743,285,589.93, down 8.56% year-on-year[58]. - Revenue from the service sector increased by 98.05% year-on-year, reaching CNY 475,818,986.13, representing 14.78% of total revenue[58]. - The gross profit margin for the manufacturing sector was 22.99%, a decrease of 0.81% compared to the previous year[61]. - The company expanded its mobile marketing business, which significantly increased both revenue and costs, but with lower gross margins[65]. Investments and Acquisitions - The company completed a non-controlling acquisition of Shenzhen Shiming in September 2020, with an acquisition cost of CNY 1,953,381.77 for a 75% stake[66]. - The company has invested RMB 226,042,880.21 in the annual production project of 50 million meters of non-woven fabric, with a cumulative actual investment of RMB 941,280,792.93[101]. - The company raised a total of RMB 399,999,998.20 through a non-public offering, with a net amount of RMB 390,923,823.71 after deducting issuance costs[106]. Financial Management and Guarantees - As of December 31, 2020, Jiangsu Superfiber had total borrowings of 350,000,000.00 CNY under various guarantees, with specific loan terms ranging from 500,000.00 CNY to 80,000,000.00 CNY[94]. - Jiangsu Superfiber provided guarantees for total debts not exceeding 500,000,000.00 CNY at the Bank of Communications, with collateral valued at 77,411,165.00 CNY[94]. - The company has pledged real estate and land use rights valued at RMB 114,784,109.46 and RMB 51,324,774.00 respectively, securing debts not exceeding RMB 148,360,000.00, with total borrowings of RMB 100,000,000.00[98]. Compliance and Governance - The company has ensured compliance with legal and regulatory requirements in its financial practices and commitments[183]. - The company has committed to avoiding competition with its major shareholder, Huafeng Group, and its subsidiaries, ensuring no direct or indirect competition in the production and sales of synthetic leather[172]. - The company has implemented measures to minimize related party transactions, ensuring that necessary transactions adhere to fair and just principles[178]. - The company has established a commitment to avoid any significant related party transactions that could harm the interests of both parties involved[178]. Future Outlook - The company aims to become the largest high-quality ultra-fiber material supplier globally during the "14th Five-Year Plan" period, focusing on expanding its industrial chain and enhancing its competitive advantages[120]. - The company plans to extend its product line into high-end ultra-fiber products, which currently have significant domestic replacement potential, particularly in areas dominated by Japanese companies[122]. - The company reported that the ultra-fiber industry is expected to see increased demand due to the limitations of natural leather and the environmental concerns associated with its production[120].

Financial Performance - The net profit attributable to shareholders for 2020 was -483,895,415.12 CNY, significantly impacted by an impairment loss of 751,638,465.98 CNY related to goodwill from the acquisition of Weifutong[6]. - The company reported that the prices of key raw materials, such as nylon chips and MDI, are subject to significant fluctuations, which could adversely affect operational performance if prices rise sharply[10]. - The company's operating revenue for 2020 was ¥3,219,104,576.06, a decrease of 0.66% compared to ¥3,240,344,131.19 in 2019[30]. - The net profit attributable to shareholders for 2020 was -¥483,895,415.12, representing a decline of 405.55% from ¥158,368,065.45 in 2019[30]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥535,596,541.31, down 403.65% from ¥176,384,560.07 in 2019[30]. - The net cash flow from operating activities decreased by 17.19% to ¥627,501,423.18 in 2020 from ¥757,759,238.65 in 2019[30]. - The total assets at the end of 2020 were ¥8,055,027,726.26, a decrease of 3.99% from ¥8,390,052,812.23 at the end of 2019[30]. - The net assets attributable to shareholders at the end of 2020 were ¥5,080,381,015.86, down 3.19% from ¥5,248,029,344.33 at the end of 2019[30]. - The company reported a basic and diluted earnings per share of -¥0.28 for 2020, a decline of 131.11% from ¥0.90 in 2019[30]. - The company experienced a significant drop in quarterly net profit, with Q4 2020 showing a loss of -¥642,213,642.57 compared to profits in earlier quarters[33]. - The company received government subsidies amounting to ¥64,178,370.65 in 2020, an increase from ¥45,102,452.95 in 2019[36]. - The company reported a net profit attributable to shareholders of ¥111,198,337.24 in Q3 2020, compared to a loss of ¥642,424,960 in Q4 2020[59]. - The company reported a net profit attributable to shareholders of -483,895,415.12 yuan for the year 2020, indicating a significant loss compared to previous years[135]. Business Strategy and Market Position - The company plans to enhance its digital banking solutions to meet the growing demand for digital transformation among core banking clients, particularly in cross-border e-commerce payment systems[9]. - The company is adapting to changes in consumer payment habits, with a shift towards mobile payment methods like WeChat Pay and Alipay, which has influenced its service offerings[9]. - The company remains focused on the research, production, and sales of ultra-fiber materials, with no changes in its main business or products during the reporting period[42]. - The company is actively pursuing market expansion and deepening cooperation with UnionPay to create new profit growth points[48]. - The company aims to become the world's largest high-quality ultra-fiber material supplier during the 14th Five-Year Plan period, focusing on expanding its industrial chain and enhancing its production bases in Jiangsu and Shanghai[122]. - The company plans to strengthen its market position by increasing its market share and profitability as the Jiangsu ultra-fiber 50 million meters refinancing project reaches full production[122]. - The company is actively developing high-end ultra-fiber products, targeting a market currently dominated by Japanese companies, indicating significant domestic substitution potential[122]. - The company plans to transition from a product-centric to a customer-centric approach, establishing market centers and regional subsidiaries to enhance local resource utilization[126]. - The company will increase investment in innovative products such as cross-border e-commerce and supply chain finance to create new growth points[126]. Research and Development - Research and development (R&D) expenses for 2020 were CNY 174,988,156.13, which is 5.44% of the operating revenue[79]. - The number of R&D personnel increased to 618, making up 30.49% of the total workforce[80]. - Research and development investment has increased by 15%, focusing on innovative technologies to enhance product quality[163]. Investments and Acquisitions - The company completed a non-controlling acquisition of Shenzhen Shiming, with a purchase cost of ¥1,953,381.77 and a 75% equity stake[67]. - The company has established two new subsidiaries, Sichuan Weifutong and Fujian Weifutong, with registered capital of CNY 5 million and CNY 10 million respectively, holding 51% equity in both[72]. - The company acquired 75% equity of Shenzhen Shiming Technology Co., Ltd. on September 27, 2020, and will include it in the consolidated financial statements from the date of the change[189]. Cash Flow and Financing - Operating cash inflow increased by 29.67% to ¥2,906,004,832.55, driven by increased accounts receivable collection and maturing notes receivable[83]. - Operating cash outflow rose by 53.62% to ¥2,278,503,409.37 due to expanded sales scale and rising raw material prices[83]. - Investment cash inflow decreased by 78.23% to ¥296,804,079.67, primarily due to reduced cash received from investments[83]. - Investment cash outflow decreased by 54.89% to ¥1,068,163,242.57, attributed to lower fixed asset investments[83]. - Financing cash inflow increased by 71.98% to ¥3,048,772,253.17, while financing cash outflow increased by 74.95% to ¥2,792,984,742.93, reflecting efforts to lower financing costs[83]. - Net increase in cash and cash equivalents was ¥103,587,661.18, a significant turnaround from a decrease of ¥68,772,878.45 in the previous year[83]. Compliance and Governance - The management emphasized the importance of maintaining strong corporate governance and compliance with regulatory standards to mitigate risks[165]. - The company has not experienced any penalties or rectification situations during the reporting period[193]. - The company has not engaged in any cash dividends or stock dividends for the year 2020 due to its financial performance[136]. Environmental and Safety Considerations - The company has acknowledged the increasing environmental protection requirements and the potential for rising costs associated with compliance[10]. - The company emphasizes strict safety management and compliance to ensure healthy development and prevent safety and environmental incidents[123].

Financial Performance - The company's operating revenue for 2020 was CNY 3,219,104,576.06, a decrease of 0.66% compared to CNY 3,240,344,131.19 in 2019[25]. - The net profit attributable to shareholders for 2020 was a loss of CNY 483,895,415.12, representing a decline of 405.55% from a profit of CNY 158,368,065.45 in 2019[25]. - The net cash flow from operating activities decreased by 17.19% to CNY 627,501,423.18 in 2020, down from CNY 757,759,238.65 in 2019[25]. - The total assets at the end of 2020 were CNY 8,055,027,726.26, a decrease of 3.99% from CNY 8,390,052,812.23 at the end of 2019[25]. - The net assets attributable to shareholders decreased by 3.19% to CNY 5,080,381,015.86 at the end of 2020, compared to CNY 5,248,029,344.33 at the end of 2019[25]. - The basic earnings per share for 2020 was -CNY 0.28, a decline of 131.11% from CNY 0.90 in 2019[25]. - The diluted earnings per share for 2020 was also -CNY 0.28, reflecting the same decline as the basic earnings per share[25]. - The weighted average return on equity for 2020 was -9.48%, down from 3.05% in 2019, indicating a significant deterioration in profitability[25]. - The company did not distribute any cash dividends or bonus shares for the year 2020[9]. Revenue Breakdown - Revenue from the manufacturing sector was ¥2,743,285,589.93, accounting for 85.22% of total revenue, down 8.56% from ¥3,000,087,460.37 in 2019[54]. - Revenue from the service sector increased by 98.05% to ¥475,818,986.13, up from ¥240,256,670.82 in 2019, representing 14.78% of total revenue[54]. - The company reported a net profit attributable to shareholders of ¥111,198,337.24 for Q3 2020, compared to a loss of ¥642,424.96 in Q4 2020[54]. - The company’s inventory increased by 83.57% to ¥310,130,204.4 in 2020, compared to ¥168,945,316.78 in 2019[58]. - The revenue from ultra-fine fiber products in the domestic market was ¥2,670,401,065.11, showing a 4.86% increase year-on-year[57]. - The company’s revenue from technical service fees reached ¥475,818,986.13, marking a 98.05% increase compared to the previous year[54]. Operational Highlights - The company has maintained its focus on the development and sales of ultra-fine fiber materials, which are widely used in various industries, indicating a stable business model[39]. - The company is actively pursuing business transformation in response to regulatory changes in the payment industry, aiming to expand its market presence and develop new revenue streams[39]. - The company has been recognized as a leading enterprise in the ultra-fine fiber synthetic materials sector, reinforcing its competitive advantage in the industry[40]. - The company plans to enhance its product offerings and services by focusing on digitalization and innovative solutions for financial institutions and large enterprises[39]. - The company plans to expand its production capacity to 15 million meters with the new non-woven ultra-fiber material project, increasing its competitive advantage[48]. - The company has established direct cooperation with major automotive manufacturers like Volkswagen and Ford, marking a breakthrough in the automotive interior market[48]. Cash Flow and Investments - Operating cash inflow increased by 29.67% to ¥2,906,004,832.55, attributed to improved accounts receivable collection and increased maturity of receivables[81]. - Operating cash outflow rose by 53.62% to ¥2,278,503,409.37, driven by expanded sales scale and increased raw material prices[81]. - Investment cash inflow decreased by 78.23% to ¥296,804,079.67, primarily due to reduced cash received from investments[81]. - Investment cash outflow decreased by 54.89% to ¥1,068,163,242.57, resulting from lower fixed asset investments[81]. - The company has invested RMB 226,042,880.21 in the annual production project of 50 million meters of non-woven fiber materials, with a cumulative actual investment of RMB 941,280,792.93[98]. Financing and Debt Management - The company has multiple loan agreements with varying terms, indicating a diversified financing strategy[90][91][92]. - Jiangsu Superfiber's financial strategy includes leveraging collateral to secure favorable borrowing terms, enhancing liquidity for operational needs[90][91][92]. - The company has provided guarantees for debts up to CNY 500 million at the Bank of China, with collateral valued at CNY 77.41 million[90]. - The company has outstanding loans of RMB 92,500,000.00 under guarantees provided to Agricultural Bank of China, with various loan terms ranging from 2020 to 2021[95]. Compliance and Governance - The company guarantees that all documents and information provided for the fundraising are true, accurate, and complete, with no false records or omissions[148]. - The company has no history of administrative penalties or criminal punishments in the last five years[143]. - The company has committed to avoiding competition with its major shareholder, Huafeng Group, and its actual controllers, ensuring no direct or indirect production of competing products[155]. - The company has emphasized the importance of adhering to fair pricing standards in any significant related party transactions, ensuring market comparability[164]. - The company is committed to ongoing compliance with its established commitments regarding competition and related party transactions[175].

Financial Performance - The company's revenue for Q1 2021 was ¥980,712,004.59, representing a 113.80% increase compared to ¥458,706,377.14 in the same period last year[8] - Net profit attributable to shareholders was ¥83,233,016.23, a significant increase of 194.85% from ¥28,228,472.17 year-on-year[8] - The net profit after deducting non-recurring gains and losses reached ¥70,152,188.99, marking a 296.30% increase compared to ¥17,701,860.93 in the previous year[8] - The basic earnings per share (EPS) was ¥0.05, up 150.00% from ¥0.02 in the same period last year[8] - The weighted average return on equity (ROE) was 1.62%, an increase of 1.08% from 0.54% year-on-year[8] - The total operating revenue for the current period reached ¥980,712,004.59, a significant increase from ¥458,706,377.14 in the previous period, representing a growth of approximately 114.3%[49] - The net profit for the current period was ¥83,109,624.73, up from ¥28,352,403.19 in the previous period, reflecting a growth of approximately 193.5%[55] - The total comprehensive income attributable to the parent company was 83,214,569.23 yuan, compared to 28,218,715.75 yuan in the previous period, representing an increase of approximately 194.5%[59] Assets and Liabilities - Total assets at the end of the reporting period were ¥8,148,991,323.86, a slight increase of 0.92% from ¥8,074,878,568.36 at the end of the previous year[8] - Net assets attributable to shareholders reached ¥5,165,394,262.68, reflecting a 1.68% increase from ¥5,080,169,693.45 at the end of the previous year[8] - As of March 31, 2021, the total current assets amounted to CNY 2,300,586,023.82, slightly increasing from CNY 2,289,300,215.94 as of December 31, 2020, representing a growth of approximately 0.01%[33] - The total assets of the company as of March 31, 2021, were CNY 8,148,991,323.86, compared to CNY 8,074,878,568.36 at the end of 2020, showing an increase of about 0.9%[36] - Current liabilities decreased to CNY 1,760,502,496.33 from CNY 1,910,560,123.06, a reduction of approximately 7.8%[39] - The total liabilities as of March 31, 2021, were CNY 2,979,680,544.11, slightly down from CNY 2,990,829,644.95, indicating a decrease of about 0.4%[39] - The company's total equity increased to CNY 5,169,310,779.75 from CNY 5,084,048,923.41, reflecting a growth of approximately 1.7%[42] Cash Flow - The net cash flow from operating activities was negative at -¥125,921,795.22, a decline of 229.61% compared to ¥97,158,023.11 in the same period last year[8] - Cash inflow from operating activities totaled 861,141,149.37 yuan, compared to 658,685,572.94 yuan in the previous period, indicating a rise of about 30.7%[71] - Cash outflow from operating activities was 987,062,944.59 yuan, up from 561,527,549.83 yuan, resulting in a net cash flow from operating activities of -125,921,795.22 yuan[71] - Cash and cash equivalents at the end of the period were ¥137,878,640.56, a decrease of 36.2% from ¥216,327,482.95 at the end of the previous period[73] - Cash flow from investment activities showed a net outflow of ¥82,030,566.92, worsening from a net outflow of ¥17,823,687.96 in the prior year[77] Shareholder Information - The total number of shareholders at the end of the reporting period was 23,989[11] - The top ten shareholders did not engage in any repurchase transactions during the reporting period[17] - The company reported a total of 159,655,893 shares held by Huafeng Group Co., Ltd., the largest unrestricted shareholder[14] Operational Insights - The company maintained a stable overall development and operational situation, continuing to increase investment in R&D projects to enhance quality and efficiency[20] - The company faced increased costs due to a sharp rise in the prices of key raw materials, which impacted net profit in the first quarter[20] - The company actively carried out various tasks according to its annual business plan during the reporting period[20] - The company is focusing on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[38] - The company has signed a cooperation agreement with a private equity fund, indicating strategic partnerships for future growth[14] Changes in Financial Metrics - Research and development expenses for the current period were ¥46,085,282.66, compared to ¥31,050,212.83 in the previous period, indicating an increase of approximately 48.5%[52] - The company reported a financial expense of ¥20,079,020.64, which increased from ¥16,971,296.06 in the previous period[52] - The company experienced a credit impairment loss of -2,758,866.79 yuan, compared to a gain of 1,238,984.05 yuan in the previous period[63]

Financial Performance - Net profit attributable to shareholders increased by 96.70% to CNY 111,198,337.24 for the reporting period[8] - Operating revenue for the reporting period was CNY 1,002,339,200.98, representing a 23.23% increase year-on-year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 87,025,982.56, an increase of 89.10% compared to the same period last year[8] - Basic earnings per share for the reporting period was CNY 0.06, a 100.00% increase compared to the same period last year[8] - The company reported a net profit of CNY 111,571,164.97 for the current period, representing a 97.1% increase compared to CNY 56,606,111.75 in the previous period[22] - Operating profit increased by 101.2% to CNY 129,129,823.21 from CNY 64,181,773.88 year-on-year[22] - Total operating revenue for the current period reached ¥1,002,339,200.98, an increase from ¥813,409,261.35 in the previous period, representing a growth of approximately 23.2%[52] - Total operating costs amounted to ¥894,796,355.02, up from ¥756,836,613.91, indicating an increase of about 18.2%[55] - Net profit for the current period was ¥111,571,164.97, compared to ¥56,606,111.75 in the previous period, reflecting a growth of approximately 97.1%[58] - The company reported a total comprehensive income of ¥158,762,562.43 for the current period, compared to ¥103,652,196.07 in the previous period[77] Assets and Liabilities - Total assets increased by 5.80% to CNY 8,877,035,901.69 compared to the end of the previous year[8] - The company's net assets attributable to shareholders increased by 9.81% to CNY 5,763,106,053.45 compared to the end of the previous year[8] - Total liabilities decreased slightly to ¥3,110,210,844.20 from ¥3,139,339,069.58, a decrease of approximately 0.9%[40] - Current liabilities decreased to ¥2,043,135,284.47 from ¥2,787,405,043.49, a reduction of approximately 26.7%[40] - Non-current liabilities increased to ¥1,067,075,559.73 from ¥351,934,026.09, showing a significant rise of about 203.5%[40] - Owner's equity totaled ¥5,766,825,057.49, up from ¥5,250,713,742.65, marking an increase of approximately 9.8%[43] - The company’s total assets increased to ¥6,073,612,589.78 from ¥5,866,347,292.49, showing a growth of approximately 3.5%[60] - The total liabilities were reported at ¥2,787,405,043.49, consistent with the previous period[103] Cash Flow - Cash flow from operating activities for the year-to-date period increased by 23.40% to CNY 487,607,489.33[8] - Cash and cash equivalents increased to CNY 540,803,664.63 from CNY 257,354,405.55, showing a significant improvement in liquidity[34] - The cash flow from operating activities generated a net amount of ¥487.61 million, an increase of 23.3% from ¥395.15 million in the previous period[87] - Cash flow from investment activities showed a net outflow of ¥618.24 million, worsening from a net outflow of ¥495.32 million in the previous period[89] - Cash flow from financing activities resulted in a net inflow of ¥420.01 million, compared to a net outflow of ¥27.40 million in the previous period[89] - The company reported a net increase in cash and cash equivalents of ¥331,724,578.25, reversing a decrease of -¥21,887,059.56 from the previous period[96] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 28,130[12] - The total number of restricted shares released was 412,449,479, accounting for 24.21% of the company's total share capital, with the listing date on July 24, 2020[23] - The company raised a total of CNY 399,999,998.20 through a non-public offering of 57,306,590 shares at a price of CNY 6.98 per share[23] Expenses and Income - Financial expenses increased by 45.63% to CNY 20,276,269.04 due to higher interest expenses and exchange rate losses[22] - Research and development expenses for the current period were ¥48,586,910.19, up from ¥42,118,035.36, an increase of about 15.5%[55] - The company reported other income of ¥27,952,395.67, significantly higher than ¥10,931,451.93 in the previous period, representing an increase of approximately 156.5%[55] - The company’s tax expenses for the current period were ¥24,950,326.26, compared to ¥15,314,850.65 in the previous period[72] Investment Activities - The company received government subsidies amounting to CNY 50,005,795.41 during the reporting period[8] - The company reported a significant decrease in cash inflows from investment activities, down 75.76% to CNY 235,070,927.08 from CNY 969,780,668.30[22] - Cash outflow for investment activities was ¥824,533,957.78, compared to ¥352,528,919.87 in the previous period, indicating increased investment efforts[93]