Financial Performance - Total operating revenue for Q1 2014 was CNY 281,557,688.66, an increase of 17.14% compared to CNY 240,355,539.03 in the same period last year[8]. - Net profit attributable to ordinary shareholders was CNY 10,731,091.22, representing a growth of 24.51% from CNY 8,618,926.25 year-on-year[8]. - Basic earnings per share increased to CNY 0.0508, up 24.51% from CNY 0.0408 in the same quarter last year[8]. - In Q1 2014, the company achieved operating revenue of RMB 281.56 million, a year-on-year increase of 17.14%[21]. - The net profit attributable to shareholders was RMB 10.73 million, representing a year-on-year growth of 24.51%[21]. - Net profit for Q1 2014 reached CNY 12,440,779.02, representing a 25.3% increase from CNY 9,933,722.00 in Q1 2013[56]. - Earnings per share for Q1 2014 were CNY 0.0508, compared to CNY 0.0408 in the same quarter last year, reflecting a growth of 24.5%[56]. Cash Flow and Assets - The net cash flow from operating activities was CNY -17,848,099.66, a decline of 58.8% compared to CNY -11,239,274.05 in the previous year[8]. - The company reported a 58.80% decrease in net cash flow from operating activities, attributed to increased accounts receivable and higher raw material reserves[20]. - Cash flow from operating activities for Q1 2014 was CNY 288,524,371.73, compared to CNY 254,484,136.93 in Q1 2013, marking an increase of 13.4%[61]. - The ending balance of cash and cash equivalents was 261,187,934.77 CNY, down from 322,937,249.57 CNY year-over-year[67]. - The company's cash and cash equivalents decreased to CNY 315,441,885.54 from CNY 389,115,161.04, reflecting a decline of approximately 19%[47]. - Current assets totaled CNY 691,538,667.87, a decrease from CNY 715,567,766.79 at the beginning of the period, primarily due to a reduction in cash and cash equivalents[47]. Production Capacity and Market Strategy - The company has an annual production capacity of 65 million meters of polyurethane synthetic leather, which is expected to increase to 88.5 million meters after the completion of ongoing projects[10]. - The production capacity utilization rate for 2013 was 80.27%, with a sales rate of 99.22%[10]. - The company plans to expand its market share by enhancing product services and developing new products, particularly in emerging markets such as electronics and decoration[11]. - The company plans to enhance its innovation capabilities and expand production capacity through various projects, including a new technology center and a production facility for ecological polyurethane synthetic leather with an annual capacity of 22 million meters[24]. Shareholder Information - The total number of shareholders at the end of the reporting period was 6,254[13]. - The largest shareholder, Anhui Anli Technology Investment Group Co., Ltd., holds 22.5% of the shares[13]. - Shareholders have agreed to a lock-up period of 36 months from the date of the company's initial public offering, during which they will not transfer or manage their shares[32]. Liabilities and Equity - Total liabilities at the end of the reporting period were CNY 686,075,868.08, compared to CNY 659,286,231.58 at the beginning, indicating a rise in liabilities[49]. - The company's equity totaled CNY 916,707,017.96, up from CNY 901,272,347.83, showing a growth in shareholder equity[49]. - Owner's equity increased to CNY 839,722,295.64, up from CNY 828,193,754.32 in the previous year, indicating a growth of 1.9%[55]. Compliance and Governance - The company has strictly fulfilled its commitment regarding stock incentive plans, with no violations reported as of the end of the reporting period[29]. - The company’s controlling shareholder has committed to avoiding any competition with the company’s business, ensuring no direct or indirect involvement in competing enterprises[30]. - The company has maintained compliance with commitments made during asset restructuring, with no breaches reported as of the end of the reporting period[29]. - The company has committed to fair trading practices, ensuring that transactions do not harm the interests of the company or its shareholders[30]. Investment and Projects - The total amount of raised funds is CNY 440.59 million, with CNY 22.62 million invested in the current quarter[37]. - Cumulative investment of raised funds reached CNY 378.54 million, accounting for 86% of the total raised[37]. - The ecological functional polyurethane synthetic leather expansion project is expected to be completed within 18 months, with construction essentially finished by the end of 2013[38]. - The company has invested CNY 69.75 million out of the CNY 109.86 million raised for the annual production of 22 million meters of ecological functional polyurethane synthetic leather project[38]. Supplier and Customer Relations - The top five suppliers accounted for 24.11% of total quarterly procurement, down from 34.64% in the same period last year, indicating improved procurement diversity[22]. - The sales revenue from the top 5 customers increased by 20.78% year-on-year, accounting for 19.84% of quarterly revenue, which is consistent with the previous year's proportion[23]. - The first customer contributed sales of ¥22,626,321.67, representing 8.04% of quarterly revenue, compared to ¥12,561,776.75 and 5.23% in the same period last year[23].

Financial Performance - The company's operating revenue for 2013 was CNY 1,183,021,123.60, representing a 6.49% increase compared to CNY 1,110,963,297.57 in 2012[17] - Operating profit increased by 67.89% to CNY 64,533,181.68 in 2013, up from CNY 38,437,816.89 in the previous year[17] - Net profit attributable to shareholders rose by 51.19% to CNY 73,784,713.02, compared to CNY 48,803,094.38 in 2012[17] - The total assets of the company at the end of 2013 were CNY 1,560,558,579.41, an increase of 9.54% from CNY 1,424,636,402.92 in 2012[17] - The company's total liabilities increased by 11.8% to CNY 659,286,231.58 in 2013, up from CNY 589,721,009.15 in the previous year[17] - The weighted average return on equity was 9.02% in 2013, compared to 6.35% in 2012, reflecting a 2.67% increase[17] - The net cash flow from operating activities was CNY 131,145,005.16, an increase of 11.23% from CNY 117,909,277.85 in 2012[17] - Basic earnings per share increased by 51.19% to CNY 0.3494 in 2013, compared to CNY 0.2311 in 2012[17] Production and Capacity - The production capacity for polyurethane synthetic leather is currently 65 million meters, with plans to expand to 88.5 million meters post-project completion[20] - The capacity utilization rate for 2013 was 80.27%, with a sales-to-production ratio of 99.22%[20] - In 2013, the company achieved a sales volume of 51.77 million meters of polyurethane synthetic leather, an increase of 7.36% year-on-year, with sales revenue reaching 1.161 billion yuan, up 6.54% from the previous year[34] - The company completed the construction of 4 dry and 4 wet production lines for ecological functional polyurethane synthetic leather, with the project nearing completion[38] - The company increased its production capacity by 15,000 tons for polyurethane resin, with the project also nearing completion[38] Research and Development - The company invested 59.95 million yuan in product and process technology R&D, accounting for 5.07% of total revenue, successfully developing new products and processes such as regenerated leather composite products[34] - The company applied for 39 new patents and received 14 new patent authorizations in 2013, bringing the total number of authorized patents to 101, including 26 invention patents[34] - The company is focusing on continuous product development based on market demand, ensuring that product development aligns with market benefits[109] Market Expansion and Strategy - The company is focusing on expanding its market share in emerging sectors such as electronics and decoration[21] - The company is actively expanding its domestic market to reduce reliance on exports and mitigate risks from exchange rate fluctuations[100] - The company is positioned to capitalize on the increasing demand for high-quality and eco-friendly products from domestic and international clients[97] - The company aims to enhance its management structure and human resources to support its growing business scale[22] Financial Management - The company received government subsidies totaling 23.08 million yuan, an increase of 19.80% from the previous year[26] - Financial expenses decreased by ¥132.41 million, mainly due to the appreciation of the RMB and gains from forward foreign exchange contracts amounting to ¥11,045,200[44] - The net cash flow from investing activities was -¥21,287.53 million, primarily due to significant investments in expansion projects, including the construction of production lines and facilities[59] - The company's management expenses rose by ¥20,001.79 million, with a notable increase in salaries and welfare costs by 11.42%[44] Environmental and Regulatory Compliance - The company has invested approximately 30 million RMB in environmental protection facilities, ensuring compliance with national standards for pollutant emissions[104] - The company has implemented advanced pollution control measures and has received multiple environmental certifications, enhancing its market reputation[103] - The company anticipates industry consolidation due to stricter environmental regulations, which may favor larger, more capable enterprises[95] Shareholder and Governance - The company maintained a total share capital of 211,200,000 shares, unchanged from the previous year[17] - The company has implemented a stock option incentive plan, granting 20 million stock options, which represents 9.47% of the total share capital of 21,120,000 shares[149] - The company has a diverse board composition, including independent directors and a strong management team, which supports effective governance[190] - The total number of shareholders at the end of the reporting period was 5,970, compared to 6,635 before the report[179] Awards and Recognition - The company was recognized as one of the "Top 100 High-tech Enterprises in Anhui Province" and established a "National Postdoctoral Research Station" approved by the Ministry of Human Resources and Social Security[36] - The company received multiple awards including the Anhui Province Science and Technology Progress First Prize and the Anhui Province Management Innovation Achievement Second Prize[195] - The company reported significant contributions from its R&D team, leading to multiple technology innovation awards at both provincial and national levels[196]