编号：2022-001 证券代码：300225 证券简称：金力泰 上海金力泰化工股份有限公司 投资者关系活动记录表 | --- | --- | --- | |-----------------------------------|----------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------| | 投 资 者 关 系活 动类别 | □新闻发布会 □现场参观 □其他 | □特定对象调研 □分析师会议 □媒体采访 √业绩说明会 □路演活动 | | 参 与 单 位 名称 及人员姓名 | 参与公司 2021 | 年度业绩说明会的投资者 | | 时间 | 2022 年 6 月 17 日 ( | 周五) 下午 15 : 00 - 17 : 00 | | 地点 | 全景网"投资者关系互动平台"（ | https://ir.p 5 w.net ） ...

Financial Performance - The company's revenue for Q3 2022 was ¥187,925,139.39, an increase of 2.31% compared to the same period last year, but a decrease of 24.57% year-to-date [5]. - The net profit attributable to shareholders was -¥28,544,784.33, a decline of 31.04% year-on-year, and -¥84,627,392.23 year-to-date, down 43.05% [5]. - The basic and diluted earnings per share were both -¥0.0583, reflecting a 31.09% decrease compared to the same period last year and a 43.09% decrease year-to-date [5]. - The total operating revenue for the third quarter was ¥500,244,340.84, a decrease of 24.5% compared to ¥663,184,410.34 in the same period last year [28]. - The net profit for the quarter was a loss of ¥84,483,700.81, compared to a loss of ¥64,045,521.06 in the previous year, reflecting a worsening performance [29]. - The total comprehensive income attributable to the parent company was -84,627,392.23 CNY, compared to -59,160,569.18 CNY in the previous period, indicating a decline of approximately 43% [30]. Cash Flow and Assets - The net cash flow from operating activities for the year-to-date was ¥71,470,409.54, an increase of 133.19% [5]. - As of September 30, 2022, the company's cash and cash equivalents decreased to ¥22,494,436.97 from ¥42,500,777.00 at the beginning of the year, representing a decline of approximately 47.2% [24]. - The total cash inflow from investment activities was 216,711,162.15 CNY, while cash outflow was 301,577,530.79 CNY, resulting in a net cash flow of -84,866,368.64 CNY [32]. - The cash and cash equivalents at the end of the period were 21,373,058.44 CNY, down from 56,850,148.21 CNY in the previous year, reflecting a decrease of approximately 62% [33]. - The total assets at the end of the reporting period were ¥1,154,099,674.09, down 11.28% from the end of the previous year [5]. - The total liabilities decreased to ¥361,163,125.85 from ¥374,476,640.46, a reduction of 3.5% [26]. Shareholder Information - The number of ordinary shareholders as of the report date was 23,812, with the largest shareholder holding 14.38% of the shares [12]. - The top ten shareholders collectively hold significant stakes, with the largest shareholder owning 70.35 million shares [12]. - The company has not disclosed any known relationships or concerted actions among the top shareholders as of the report date [13]. - The company reported a total of 3,199,000 shares under lock-up, with no shares released or added during the period [15]. - The company has a stock incentive plan where 25% of shares are unlocked annually based on the number of shares held at the end of the previous year [16]. Expenses and Liabilities - The total operating costs amounted to ¥590,243,299.41, down 19.5% from ¥733,266,204.70 year-on-year [28]. - Research and development expenses increased to ¥31,141,956.62, up 17.5% from ¥26,554,948.40 year-on-year, indicating a focus on innovation [29]. - The company reported a credit impairment loss of ¥7.40 million, an increase of 47.55% compared to the previous year, indicating a rise in bad debt provisions [10]. - The company recorded a credit impairment loss of ¥7,398,254.91, compared to a loss of ¥5,014,081.87 in the previous year, indicating increased credit risk [29]. - The company's tax and additional fees rose by 75.82% to ¥1.65 million, mainly due to increased VAT and property tax obligations [10]. Inventory and Prepayments - The company reported a significant increase in prepayments, which rose by 320.81% to ¥62,756,131.24, attributed to higher advance payments for raw materials [9]. - The company’s inventory decreased by 60.90% to ¥145,415,657.44, due to the delivery of goods to customers [9]. Stock Incentive Plans - The company has confirmed the termination of the 2020 stock incentive plan, which was approved in a temporary board meeting [18]. - The company plans to repurchase and cancel shares that have been granted but not yet released from lock-up [17]. - The company has implemented a policy that prohibits departing executives from transferring shares within six months after their departure [16]. - The company has established a mechanism for unlocking shares for executives based on their tenure and performance [17]. Government Subsidies and Accreditations - The company recognized government subsidies amounting to ¥704,815.34 during the reporting period, with a total of ¥2,732,862.15 year-to-date [7]. - The company received a laboratory accreditation certificate from the China National Accreditation Service for Conformity Assessment (CNAS) on August 28, 2022 [22].

Financial Performance - The company's operating revenue for the first half of 2022 was ¥312,319,201.45, a decrease of 34.87% compared to ¥479,506,144.83 in the same period last year[21]. - The net profit attributable to shareholders was -¥56,082,607.90, representing a decline of 215.63% from -¥17,768,567.29 in the previous year[21]. - The basic earnings per share were -¥0.1146, a decline of 215.70% from -¥0.0363 in the same period last year[21]. - The weighted average return on net assets was -6.35%, a decrease of 4.58% compared to -1.77% in the previous year[21]. - The total assets at the end of the reporting period were ¥1,266,828,235.32, down 2.62% from ¥1,300,898,386.70 at the end of the previous year[21]. - The net assets attributable to shareholders decreased by 9.69% to ¥822,746,584.86 from ¥911,018,198.04 at the end of the previous year[21]. - Operating costs decreased by 28.54% to ¥283,737,324.07 from ¥397,032,607.03, reflecting the significant reduction in revenue[87]. - The net cash flow from operating activities improved to ¥153,184,352.11, a significant increase of 189.54% compared to -¥171,079,718.36 in the same period last year[21]. - The company's cash and cash equivalents increased by 187.26% to ¥132,494,862.89, compared to a decrease of ¥151,837,443.90 in the previous period[88]. Market and Industry Insights - The company reported that the automotive industry faced significant challenges in H1 2022, with production and sales of automobiles decreasing by 3.7% and 6.6% year-on-year, respectively, totaling 12.12 million and 12.06 million units[32]. - The average price of key raw materials such as epoxy resin and bisphenol A showed a year-on-year increase of 43% and 67%, respectively, compared to 2020, despite some price decreases compared to 2021[31]. - The overall revenue of the coatings industry is expected to grow at an average annual rate of approximately 4% during the "14th Five-Year Plan" period, with a target total output value of around 370 billion yuan by 2025[30]. - The Chinese paint industry is projected to grow at an average annual rate of approximately 4%, with key enterprises expected to see an average growth of 10%[53]. - The Chinese automotive market is expected to reach approximately 30 million units by 2025, with passenger vehicle sales projected to reach 25.26 million units[54]. - The market share of domestic passenger vehicles continues to rise, with significant growth opportunities in the new energy vehicle sector[56]. Product Development and Innovation - The company has developed a range of environmentally friendly coatings, with a focus on high-performance products that meet stringent environmental standards[29]. - The company is committed to advancing its research and development capabilities to innovate new products and technologies in the coatings sector[39]. - The company launched a full series of high solid content solvent-based coatings in Q2 2020, achieving bulk application at multiple key commercial vehicle clients during the reporting period[43]. - The company has successfully entered the supplier list for high solid products with Yutong, with bulk usage of high solid content products starting at Yutong's specialized vehicle base[46]. - The company’s water-based coatings have been iteratively developed, with 1K water-based metallic and solid color paints showing excellent appearance and aging resistance, currently being validated at some client sites[46]. - The company aims to enhance its market position by providing comprehensive coating solutions, competing effectively against international brands such as PPG and BASF[38]. - The company has established a joint research center with Fudan University to tackle technical challenges in resin and coating development, enhancing its R&D capabilities in high-performance resins and functional new materials[78][79]. - The intelligent coating laboratory, operational since April 2020, simulates production line conditions to improve the stability of developed topcoat products, ensuring better compatibility with automotive OEM production lines[80]. Strategic Initiatives - The company has established a dual-track strategy for 2022-2026 focusing on "research-driven and industrial transformation" to enhance its technological capabilities and market position[60]. - The company aims to achieve a technological breakthrough in low-temperature anti-sagging resin, which is currently monopolized by foreign companies, by the end of this year[77]. - The company is actively developing high-performance series products for aerospace and military applications through collaboration with universities[65]. - The company aims to enhance product competitiveness and effectively promote strategic transformation by adjusting its development direction and focus[61]. Environmental and Safety Measures - The company has implemented various pollution prevention facilities, including two sets for process waste gas treatment and a sewage treatment station[137]. - The company has established an emergency response plan for environmental incidents, approved by the local environmental protection bureau[141]. - The company conducts monthly monitoring of various pollutants, including nitrogen oxides and volatile organic compounds[142]. - The company’s wastewater treatment has been upgraded to enhance treatment capacity, ensuring compliance with discharge standards[137]. - The company emphasizes safety in production, given the hazardous nature of its chemical products, and is committed to enhancing employee safety training to mitigate potential accidents[116]. - The company has invested in safety production measures, including pandemic prevention, fire safety equipment, and occupational health checks[153]. Corporate Governance and Shareholder Engagement - The company held four temporary shareholder meetings in 2022, with investor participation rates ranging from 12.28% to 22.70%[122]. - The company has not faced any administrative penalties or significant environmental issues during the reporting period[144]. - The company has committed to avoiding related party transactions and is currently fulfilling this commitment normally[158]. - The company has no controlling shareholder or actual controller, which may enhance governance transparency[190]. - The company plans to adjust its board committee members, reflecting ongoing governance improvements[190]. - The company is undergoing changes in its board and management personnel, which may impact future strategic direction[190]. Risks and Challenges - The company faces risks from fluctuations in raw material prices, which significantly affect operating costs, with high procurement costs remaining a major concern despite a decrease compared to the same period last year[110]. - Increased competition in the automotive coatings market poses a risk, as the company must maintain high standards in technology, product quality, and service to avoid being at a disadvantage[112]. - The company's main business revenue is primarily derived from automotive coatings, making it sensitive to macroeconomic fluctuations and the automotive industry's performance, which could lead to reduced orders and slower payment collection[111]. - The company has a low risk of accounts receivable due to its long-term relationships with large, reputable automotive manufacturers, but economic fluctuations could increase collection pressures[114].

上海金力泰化工股份有限公司 2022 年第一季度报告全文 1 上海金力泰化工股份有限公司 2022 年第一季度报告全文 证券代码：300225 证券简称：金力泰 公告编号：2022-058 上海金力泰化工股份有限公司 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 (二)非经常性损益项目和金额 √ 适用 □ 不适用 单位：元 | 项目 | 本报告期金额 | 说明 | | --- | --- | --- | | 非流动资产处置损益（包括已计提资产减值准备的冲销 | -23,709.11 | | | 部分） | | | | 计入当期损益的政府补助（与公司正常经营业务密切相 关，符合国家政策规定、按照一 ...

Financial Performance - In 2021, the company experienced a significant increase in raw material procurement costs, leading to a substantial rise in operating costs and resulting in a loss for the year[4]. - The company's operating revenue for 2021 was CNY 857,959,380.90, a decrease of 3.05% compared to CNY 884,959,565.29 in 2020[28]. - The net profit attributable to shareholders for 2021 was a loss of CNY 110,660,928.76, representing a decline of 221.22% from a profit of CNY 91,285,666.66 in 2020[28]. - The net cash flow from operating activities was a negative CNY 210,413,189.29, down 240.54% from CNY 149,722,800.60 in the previous year[28]. - The total assets at the end of 2021 amounted to CNY 1,300,898,386.70, an 8.98% decrease from CNY 1,429,321,443.08 at the end of 2020[28]. - The net assets attributable to shareholders decreased by 9.75% to CNY 911,018,198.04 from CNY 1,009,415,970.09 in 2020[28]. - The basic earnings per share for 2021 was CNY -0.23, compared to CNY 0.19 in 2020, marking a decline of 221.05%[28]. - The company reported a total non-operating income of 12,786,672.54 in 2021, a decrease of 10.3% from 14,248,197.15 in 2020[34]. - Government subsidies recognized in the current period amounted to 6,136,768.28 in 2021, up 45.5% from 4,206,293.61 in 2020[34]. - The company experienced a significant increase in non-recurring losses, with a total of CNY 123,447,601.30 for 2021, compared to CNY 77,037,469.51 in 2020, reflecting a 260.24% increase[28]. Market and Industry Trends - The competitive landscape in the automotive coating market is intensifying, with a few companies, including the company, dominating the market[9]. - The company’s main business revenue is closely tied to the automotive industry, making it vulnerable to macroeconomic fluctuations[8]. - In 2021, the Chinese coatings industry produced approximately 38 million tons, with a revenue forecast exceeding 460 billion yuan, reflecting a 16% year-on-year growth[84]. - The price of raw materials for coatings has surged significantly, with key materials like titanium dioxide increasing by nearly 50% year-on-year, impacting overall production costs[85]. - The automotive repair paint market is expected to grow due to an increase in vehicle ownership, with the number of registered vehicles reaching 395 million in 2021, including 30.2 million cars[106]. Research and Development - The company has significantly increased its human resource expenditures by hiring several senior management personnel and core technical staff to support its dual-track strategy of "scientific research-driven and industrial transformation"[5]. - The company has developed a complete product system for cathodic electrophoretic paint, competing effectively with international brands in core technology and product performance[42]. - The company has 11 R&D personnel for cathodic electrophoretic coatings, with 3 invention patents and 6 utility model patents, indicating strong R&D capabilities[63]. - The company is focusing on R&D for functional new materials, including coatings for autonomous driving and aerogel insulation coatings, to enhance product value and competitiveness[76]. - The company established a joint research center with Fudan University to tackle technical challenges in resin, coatings, and related new materials, enhancing R&D capabilities and product technology[76]. Strategic Initiatives - The company aims to develop environmentally friendly coatings, with a target of 70% of total production by 2025, aligning with national sustainability goals[83]. - The company is transitioning from a traditional manufacturing profit model to a "full coating solution service provider," enhancing its integrated coating business[58]. - The company is actively expanding its presence in the passenger vehicle paint market, having established a wholly-owned subsidiary to optimize management and improve operational efficiency[100]. - The company aims to implement a dual-track strategy from 2022 to 2026, focusing on "research-driven and industrial transformation" to enhance technology development in new materials and expand its business through joint ventures and acquisitions[154]. - The company is committed to green production and environmental sustainability, increasing the proportion of water-based paints and improving production processes[169]. Operational Challenges - The company faces risks from fluctuating raw material prices, which have a significant impact on operating costs[7]. - The company has indicated uncertainty regarding its ability to continue as a going concern due to negative net profits in recent years[29]. - The company emphasizes the importance of retaining talent and effective internal training to mitigate human resource risks[171]. - Potential risks include macroeconomic fluctuations affecting demand, rising raw material costs, and challenges in product development and market expansion[170]. Governance and Management - The company maintains independence from its controlling shareholders in terms of assets, business, personnel, finance, and organization, ensuring a complete business system and independent operational capability[186]. - The company has implemented a robust internal control system to ensure the normal operation of its production and management activities[186]. - The company emphasizes the importance of stakeholder interests, aiming for a balance among social, shareholder, corporate, and employee benefits[183]. - The company reported a change in financial leadership with the appointment of Sui Jingyuan as the new Chief Financial Officer on August 9, 2021, after the resignation of Yan Jiahua[195]. - The company emphasizes the importance of professional backgrounds in its leadership, with members having experience in major corporations like 3M and Kimberly-Clark[197].

Financial Performance - Net profit attributable to shareholders surged by 432.22% to CNY 50,250,101.05 for the current period[7] - Operating revenue rose by 28.81% to CNY 257,365,243.87 for the current period[7] - Basic earnings per share increased by 431.34% to CNY 0.1068[7] - The company reported a net profit of CNY 396,191,886.18, up from CNY 332,717,725.75, indicating an increase of about 19.1%[40] - Net profit for Q3 2020 was ¥49,741,189.22, compared to ¥9,700,769.54 in the previous year, reflecting a significant increase of approximately 413.5%[47] - The company reported a total profit of CNY 71,495,880.02, compared to CNY 27,052,946.30 in the same period last year, an increase of 164.5%[55] - The company expects a net profit attributable to shareholders of approximately 84.22 million CNY for the year, representing a growth of 179.98% compared to the previous year[28] Assets and Liabilities - Total assets increased by 18.09% to CNY 1,389,497,930.29 compared to the end of the previous year[7] - Current assets totaled CNY 1,063,437,310.42, up from CNY 795,355,515.36, indicating a growth of about 33.6% year-over-year[37] - Total liabilities increased significantly, with accounts payable rising by 64.26% to ¥188,108,038.21 due to increased raw material purchases[19] - Total liabilities rose to CNY 410,737,125.74 from CNY 237,668,182.98, marking an increase of about 72.5%[39] - The total liabilities increased to ¥402,751,084.37 from ¥237,776,481.52, showing a rise of approximately 69.3%[46] Cash Flow - Net cash flow from operating activities showed a significant decline, reaching -CNY 56,479,183.02, a decrease of 449.74%[7] - The net cash flow from operating activities was -56,479,183.02 CNY, a decrease compared to 16,148,950.63 CNY in the previous period[63] - Cash inflow from investment activities totaled 590,616,171.95 CNY, with cash outflow at 705,788,591.43 CNY, leading to a net cash flow of -115,172,419.48 CNY[64] - The company experienced a net cash decrease of 149,273,559.57 CNY during the period, compared to a decrease of 82,678,854.28 CNY previously[64] Shareholder Information - The top shareholder, Hainan Dahe Enterprise Management Co., Ltd., holds 19.23% of the shares, totaling 94,076,600 shares[11] - The total number of ordinary shareholders at the end of the reporting period was 15,781[11] - There were no repurchase transactions conducted by the top ten shareholders during the reporting period[12] Investments and Incentives - The company approved the 2020 Restricted Stock Incentive Plan, granting 19.1653 million shares at a price of 2.91 CNY per share to 14 incentive objects[22] - The company confirmed an investment income of approximately 31.0781 million CNY from a performance compensation payment received from an investment fund[29] - Investment income increased by 471.08% to ¥26,416,522.73, mainly from performance compensation received from an investment fund[19] Operational Insights - Management expenses increased by 57.36% to ¥47,802,516.88, influenced by new office leases and increased operational costs[19] - The company maintained close communication with existing major customers to enhance product share and meet diverse demands[29] - The company plans to expand its market presence and invest in new technologies to enhance product offerings and operational efficiency[38] Compliance and Governance - The company did not report any violations regarding external guarantees during the reporting period[31] - The company did not experience any non-operational fund occupation by controlling shareholders or related parties during the reporting period[32] - The company’s stock incentive plan received independent approval from the board of directors and the supervisory board[22] Miscellaneous - The company implemented new revenue and lease standards starting in 2020, affecting prior comparative data[77] - The company has not audited the Q3 report[77]

Financial Performance - Revenue for Q3 2021 was CNY 183,678,265.51, a decrease of 28.63% compared to the same period last year[3]. - Net profit attributable to shareholders was CNY -41,392,001.89, a decline of 182.37% year-on-year[3]. - Basic earnings per share were CNY -0.0846, down 179.21% from the previous year[3]. - The net profit for Q3 2021 was -64,045,521.06 CNY, a significant decline compared to the net profit of 65,566,004.47 CNY in the same period last year, representing a year-over-year decrease of approximately 197.6%[34]. - Operating profit for Q3 2021 was -72,513,935.46 CNY, compared to an operating profit of 67,774,868.42 CNY in Q3 2020, indicating a decline of around 207.2%[34]. - The total comprehensive income for Q3 2021 was -64,045,521.06 CNY, compared to 65,566,004.47 CNY in Q3 2020, reflecting a decrease of around 197.6%[35]. Assets and Liabilities - Total assets at the end of the period were CNY 1,380,207,334.38, a decrease of 3.44% from the end of the previous year[4]. - As of September 30, 2021, the company's total assets amounted to CNY 1,380,207,334.38, a decrease from CNY 1,429,321,443.08 at the end of 2020[29][31]. - The company's total liabilities as of September 30, 2021, were CNY 389,915,107.06, down from CNY 398,628,311.97 at the end of 2020[31]. - Total current assets amounted to approximately CNY 1,071,022,061.98, with a decrease of CNY 909,877.03 compared to the previous period[42]. - The total non-current assets increased to CNY 358,299,381.10, reflecting an increase of CNY 8,888,623.30[43]. - Total current liabilities were CNY 391,289,385.20, remaining unchanged from the previous period[43]. Cash Flow - Cash flow from operating activities was CNY -215,357,431.00, a decline of 281.30% year-on-year[3]. - The net cash flow from operating activities decreased significantly to -215,357,431.00 RMB, a change of 281.30% compared to the previous year, primarily due to the expansion of trade operations by a subsidiary[11]. - The cash flow from operating activities showed a net outflow of -215,357,431.00 CNY, worsening from -56,479,183.02 CNY in the same quarter last year[38]. - Investment activities generated a net cash inflow of 33,207,203.70 CNY, a recovery from a net outflow of -115,172,419.48 CNY in Q3 2020[38]. Costs and Expenses - Operating costs increased by 37.48% to CNY 568,703,211.14, primarily due to rising raw material prices[9]. - The total operating costs for the current period were CNY 733,266,204.70, which is a significant increase from CNY 552,030,984.23 in the previous period[33]. - Research and development expenses rose by 20.76% to CNY 26,554,948.40, reflecting increased investment in core technologies[9]. - Research and development expenses increased to 26,554,948.40 CNY in Q3 2021 from 21,989,875.52 CNY in Q3 2020, reflecting a growth of about 20.5%[34]. - The company reported a credit impairment loss of -5,014,081.87 RMB, an increase of 396.93% compared to the previous period, attributed to extended aging of receivables and higher provisions for bad debts[10]. - The income tax expense was -4,367,132.66 RMB, a decrease of 173.65% year-on-year, primarily due to a significant reduction in taxable income compared to the same period last year[10]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 22,019, with no preferred shareholders[13]. - The largest shareholder, Hainan Dahe Enterprise Management Co., Ltd., holds 15.04% of the shares, amounting to 73,576,600 shares, with 26,543,000 shares frozen[13]. Strategic Initiatives - The company plans to invest 50 million yuan to establish a wholly-owned subsidiary to develop the passenger vehicle original paint market, enhancing its product offerings and market presence[21]. - The company is focused on expanding its presence in the passenger vehicle original paint market as a key component of its current and future development strategy[21]. - The company is actively pursuing certification work with passenger vehicle manufacturers to expand its market share in the passenger vehicle original paint sector[20]. - The company has significantly increased its investment in R&D and core technical personnel to support its dual strategy of "automotive coatings + high-tech new materials"[20]. - The company announced a price increase of 10%-20% for its cathodic electrophoretic paint products starting from September 1, 2021, due to cost pressures and long-term customer relationships[25]. - The company is implementing strict cost control measures across all departments and strengthening strategic cooperation with core raw material suppliers to reduce product costs[26]. Management Changes - The company appointed several senior executives to strengthen talent empowerment and management, including Ma Xin as the Chief Executive Officer, who has over 20 years of human resources management experience[23]. - The company appointed Ms. Sui Jingyuan as Chief Financial Officer to enhance the financial management system and promote a transition to a performance-oriented financial model[24]. - The company appointed Mr. Ge Lefan as Vice President to enhance market development and management in the industrial sector, focusing on powder coatings, engineering machinery, and commercial vehicle coatings[24]. Market Conditions - In Q3 2021, the commercial vehicle production and sales decreased by 33.2% and 30.2% in July, 46.2% and 42.8% in August, and 35.2% and 33.6% in September year-on-year, significantly impacting the company's performance[18]. - From January to September 2021, the company's raw material procurement costs increased by approximately 120 million yuan compared to the same period last year, primarily due to rising global chemical raw material prices[18]. - The average market price of epoxy resin rose by 67.96% year-on-year to 31.56 yuan/kg, and bisphenol A increased by 133.82% to 23.99 yuan/kg in the same period[19]. Other Information - The company did not report any new product or technology developments during the quarter[10]. - There were no significant mergers or acquisitions reported in the current period[10]. - The company has not provided specific future guidance or market expansion strategies in the current report[10]. - The company incurred financial expenses of 527,970.30 CNY in Q3 2021, compared to a financial income of -444,967.54 CNY in the same period last year[34]. - The third quarter report was not audited, indicating preliminary financial results[46].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥479,506,144.83, representing a 42.39% increase compared to ¥336,761,435.66 in the same period last year[32]. - The net profit attributable to shareholders was -¥17,768,567.29, a decrease of 215.71% from ¥15,355,959.38 in the previous year[32]. - The net cash flow from operating activities was -¥171,079,718.36, a decline of 311.07% compared to ¥81,052,943.56 in the same period last year[32]. - The total assets at the end of the reporting period were ¥1,465,632,865.47, reflecting a 2.54% increase from ¥1,429,321,443.08 at the end of the previous year[32]. - The company's main business revenue increased by 40%-45% compared to the same period last year, reaching a historical high since its listing[81]. - In the first half of 2021, the company's electrophoretic coating business generated revenue of 264 million yuan, a year-on-year increase of 26.44%, while the topcoat business revenue reached 203 million yuan, up 68.06% year-on-year[85]. - The electrophoretic coating business accounted for 55.15% of total revenue, while the topcoat business represented 42.25%, reflecting a strategic shift towards higher-margin products[85]. - Operating costs increased by 67.75% to ¥397.03 million from ¥236.68 million, primarily due to rising global chemical raw material prices and increased procurement costs[100]. - Research and development expenses rose by 10.15% to ¥16.18 million from ¥14.69 million, attributed to the implementation of a stock incentive plan[100]. - The gross profit margin for the main business was 24.95%, a decrease of 7.60% compared to the previous year[103]. Market and Industry Trends - The company's main revenue source is automotive OEM coatings, which are closely tied to the macroeconomic environment and the automotive industry's performance, indicating potential risks from economic fluctuations[6]. - The automotive paint industry is experiencing a shift towards environmentally friendly products, with new national standards for VOCs implemented in December 2020 and February 2021, guiding the industry's development direction[77]. - The demand for automotive coatings is expected to grow, driven by factors such as economic development, increased consumer income, and favorable policies for new energy vehicles[79]. - In the first half of 2021, the automotive market showed a stable growth trend, with production and sales of automobiles reaching 12.57 million and 12.89 million units, respectively, representing year-on-year growth of 24.2% and 25.6%[79]. Raw Material and Procurement Challenges - In the first half of 2021, the company experienced a significant increase in raw material procurement costs, with major materials like epoxy resin and bisphenol A reaching historical highs, impacting gross margins negatively[5]. - The prices of key raw materials such as epoxy resin and bisphenol A have surged, with bisphenol A increasing by 129.03% year-on-year, reaching a historical high of 30 yuan/kg in April 2021[78]. - The company's procurement strategy includes locking in raw material prices when they are low, particularly for bulk materials like epoxy resin and bisphenol A[57]. - The company faces risks from rising raw material prices, which have significantly increased compared to the same period last year, impacting gross margins[126]. Environmental and Safety Compliance - The company is committed to enhancing safety production measures, given the inherent risks associated with chemical manufacturing processes[10]. - Environmental protection regulations are becoming stricter, which may lead to increased operational costs for the company[12]. - The company emphasizes environmental protection and plans to increase investments in environmental compliance due to stricter regulations, which may impact operational performance[133]. - The company has implemented a comprehensive environmental monitoring plan, with monthly and quarterly testing for various pollutants, ensuring compliance with emission standards[149]. - The company has established a comprehensive waste management system, including physical and biological treatment processes for wastewater before discharge[149]. - The total emissions of non-methane total hydrocarbons from the company were 0.021 tons, well below the approved limit of 0.633 tons, indicating no exceedance[144]. - The company reported a total wastewater COD emission of 0.3294 tons, significantly lower than the approved limit of 4.64 tons, with no exceedance[144]. - The company has a total nitrogen wastewater emission of 0.0023 tons, which is well below the approved limit of 11.184 tons, indicating no exceedance[144]. - The company has received environmental impact evaluation approvals for its automotive paint research and production base, with the latest approval obtained in November 2020[149]. Research and Development Initiatives - The company is focusing on developing high solid content coatings (HSC) to meet environmental standards and improve product performance[24]. - The company has a high-quality R&D team that focuses on practical product technology upgrades based on customer needs, enhancing the technical content and application value of its products[70]. - The company is actively developing water-based B1B2 process topcoats for passenger vehicles, which have been successfully launched in multiple customer lines[89]. - The intelligent coating laboratory, operational since April 2020, integrates advanced spraying technology and provides robust support for future business expansion and quality control, particularly for water-based paint products[67]. - The company has committed to improving the proportion of water-based paints in its product offerings and enhancing R&D efforts in this area[133]. Strategic Developments and Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares for the reporting period, indicating a focus on reinvestment[13]. - The company appointed a new president, Yuan Xiang, on May 28, 2021, to focus on governance and strategic development[137]. - The company has established "Jinlitai University" to enhance talent development, offering 139 courses and training 933 employees since its launch in May 2021[98]. - The company is transitioning from a traditional manufacturing profit model to a "full coating solution service provider," enhancing its service offerings to meet customer demands[61]. - The core management team, with backgrounds from leading companies like Nippon Paint and BASF, is focused on enhancing the company's competitive edge through strategic planning and technology[62]. Legal and Regulatory Matters - The company is currently involved in a significant arbitration case with a claim amount of 26.699 million RMB, which is not expected to result in liabilities[162]. - The actual controller of the company is under investigation for alleged contract fraud, with the case currently under review by the prosecution[163]. - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties during the reporting period[156]. - The company has not engaged in any major related party transactions during the reporting period[164]. - The company has not undergone any bankruptcy reorganization during the reporting period[160]. - The company has not issued any major guarantees during the reporting period[173]. Community Engagement - The company donated 150,000 RMB to the local government for poverty alleviation and elderly welfare in Q2 2021[152].

上海金力泰化工股份有限公司 2021 年第一季度报告全文 1 上海金力泰化工股份有限公司 2021 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 公司高级管理人员张岚女士未对本报告内容的真实性、准确性、完整性发 表书面确认意见。其他董事、监事及高级管理人员保证本报告内容的真实、准 确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带法律 责任。请投资者特别关注。 | 未亲自出席董事姓名 | 未亲自出席董事职务 | 未亲自出席会议原因 | 被委托人姓名 | | --- | --- | --- | --- | | 袁翔 | 董事 | 出差 | 景总法 | 公司负责人景总法、主管会计工作负责人严家华及会计机构负责人(会计主 管人员)沈旭东声明：保证季度报告中财务报表的真实、准确、完整。 2 上海金力泰化工股份有限公司 2021 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | ...

Financial Performance - The company reported a profit distribution plan, proposing a cash dividend of 0.2 RMB per 10 shares (including tax) based on a total of 489,205,300 shares[11]. - The company's operating revenue for 2020 was ¥884,959,565.29, representing an increase of 8.78% compared to ¥813,501,962.57 in 2019[22]. - The net profit attributable to shareholders for 2020 was ¥91,285,666.66, a significant increase of 203.47% from ¥30,080,764.63 in 2019[22]. - The net profit after deducting non-recurring gains and losses was ¥77,037,469.51, up 384.57% from ¥15,898,225.86 in 2019[22]. - The net cash flow from operating activities reached ¥149,722,800.60, an increase of 129.06% compared to ¥65,363,862.58 in 2019[22]. - The total assets at the end of 2020 were ¥1,429,321,443.08, reflecting a growth of 21.47% from ¥1,176,646,533.61 at the end of 2019[23]. - The net assets attributable to shareholders increased to ¥1,009,415,970.09, a rise of 10.95% from ¥909,804,083.09 at the end of 2019[23]. - The basic earnings per share for 2020 was ¥0.19, representing a 216.67% increase from ¥0.06 in 2019[23]. - The weighted average return on equity for 2020 was 9.55%, up from 3.36% in 2019[23]. Market and Industry Trends - The main business revenue primarily comes from automotive coatings, which are closely tied to the macroeconomic environment and the automotive industry's performance[4]. - The competitive landscape in the automotive coatings market is intensifying, with a few domestic companies, including the company, competing against international giants[7]. - The automotive industry saw a total production and sales of 25.23 million and 25.31 million vehicles respectively in 2020, with a year-on-year decline of 2% and 1.9%, indicating a narrowing of the decline compared to the previous year[62]. - The commercial vehicle segment experienced a production and sales volume of 5.23 million and 5.13 million units respectively, driven by factors such as the elimination of National III vehicles and increased infrastructure investment[63]. - The automotive market is expected to recover in 2021, with projected sales exceeding 26 million vehicles, representing a year-on-year growth of 4%[65]. - The total output of the coatings industry was 25.49 million tons, a year-on-year increase of 2.6%, while the main business income was 300.08 billion yuan, down from 313.23 billion yuan in the previous year[60]. - The implementation of the mandatory national standard GB-24409 (2020) and the recommended standard GTB-38597 (2020) has set strict VOC content requirements for vehicle coatings, impacting production and sales practices in the industry[60]. - The demand for environmentally friendly automotive coatings is stable, with a focus on advanced coating technologies and low VOC coatings in China's automotive industry[173]. Research and Development - The company is investing in research and development to enhance product quality and meet evolving market demands for environmentally friendly and high-performance coatings[7]. - The company is focused on developing eco-friendly processes, such as a low-energy, green pre-treatment process for coatings[16]. - The company has established a dedicated research and development platform for core resin production, enhancing its ability to adapt to customer needs and improve product performance[70]. - The company has developed a comprehensive product matrix of "full system electrophoretic paint + full process topcoat" to meet diverse customer needs and comply with stringent environmental regulations[77]. - The company is focused on continuous R&D in water-based coatings and high-solid content coatings to strengthen its core technology barriers and optimize product offerings[85]. - The company has launched an intelligent coating laboratory in April 2020, which supports the development of new water-based paint products and enhances quality control[73]. - The company achieved a self-manufacturing rate of over 85% for its core water-based coating resins, indicating the completion of its water-based resin system[71]. - The company has developed the KNT6000 series of high solid content products, which comply with national standards and have shown a 60% reduction in VOCs emissions compared to traditional solvent-based coatings[91]. Operational Efficiency and Strategy - The company is transitioning from a traditional manufacturing profit model to a "full coating solution service provider," enhancing its integrated coating business[56]. - The company emphasizes a direct sales model to build long-term relationships with major clients, enhancing its ability to respond to market demands[80]. - The company has implemented lean production concepts and tools, identifying over 20 improvement projects that have successfully reduced production costs and increased efficiency[102]. - The production smart upgrade includes automated systems that enhance production efficiency and product quality while significantly reducing VOC emissions, contributing to environmental compliance[103]. - The company is pursuing a dual strategy focused on automotive coatings and high-tech new materials, establishing a subsidiary to expand into lightweight metal surface treatment[105]. - The company plans to enhance its production process with fully automated control systems for liquid material dosing and packaging[187]. - The company implemented a MES-KANBAN system for visual management of the entire production process, improving production efficiency and product quality control[187]. Environmental and Safety Considerations - The company emphasizes safety in production, but there are inherent risks due to the nature of chemical manufacturing[9][10]. - Environmental protection regulations are becoming stricter, potentially increasing operational costs and impacting financial performance[11]. - The company is committed to reducing costs and increasing efficiency through improved core resin self-manufacturing and tighter collaboration with key raw material suppliers[183]. - The company is focused on developing environmentally friendly industrial coatings in response to increasing environmental regulations, which presents both challenges and opportunities for growth[61]. - The company emphasizes a culture of safety and environmental responsibility, with initiatives to enhance supplier quality and risk assessment[104]. Financial Management and Investments - The company reported a significant increase in cash and cash equivalents, with a year-end balance of 272.46 million yuan, up 60.22% from the previous year, primarily due to higher net cash inflows from operating activities[69]. - The company's intangible assets increased by 45.01% year-on-year, reflecting ongoing investments in long-term projects and the acquisition of new technologies[69]. - The company has established a customer credit rating system to optimize customer structure and improve accounts receivable management[98]. - The company’s procurement strategy includes locking in raw material prices when they are low, particularly for key materials like epoxy resin[54]. - The company plans to increase its investment in Shanghai Jindu by 51 million yuan, maintaining its 51% ownership[160]. - The company has reported a total of 47,397,763 in prepayments, representing 3.32% of total assets, an increase from 13,261,201, which was 1.13% of total assets in the previous period[139]. Challenges and Risks - The company faces risks from fluctuations in raw material prices, which significantly impact production costs and gross margins[5][6]. - The company acknowledges risks related to product development failures and market expansion not meeting expectations[194]. - The company is facing uncertainty regarding the approval of its new capacity projects, which poses investment risks[112]. - The company faces risks including macroeconomic fluctuations affecting downstream demand and rising raw material costs impacting product costs[191].