证券代码：300243 证券简称：瑞丰高材 山东瑞丰高分子材料股份有限公司 投资者关系活动记录表 编号：20190301 | --- | --- | --- | |--------------|-----------------------------|--------------------------------------------------------| | | | | | | | ■特定对象调研 □分析师会议 | | | □媒体采访 □业绩说明会 | | | 投资者关系活 | □ | 新闻发布会 □路演活动 | | 动类别 | □现场参观 | | | | □ 其他 | | | 参与单位及人 | | | | 员姓名 | 广发证券郭敏 | | | 时间 | 2019 年 3 月 1 日 | | | 地点 | | 山东省淄博市沂源县经济开发区东岭路公司董事会秘书办公室 | | 上市公司接待 | | | | 人员姓名 | | 董事会秘书赵子阳、证券事务代表朱西海 | | 投资者关系活 | | 董事会秘书赵子阳介绍了公司的发展历程、公司简介及主 | | 动主要内容介 | | | | 绍 | 要从事的业务； ...

债券代码：123126 债券简称：瑞丰转债 证券代码：300243 证券简称：瑞丰高材 公告编号：2022-055 山东瑞丰高分子材料股份有限公司 关于参加山东辖区上市公司 2022 年度投资者 网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 为进一步加强与广大投资者的互动交流，切实提高公司透明度、规范运作和 公司治理水平，山东瑞丰高分子材料股份有限公司（以下简称"公司"）将参加 山东证监局联合山东上市公司协会等单位举办的"山东辖区上市公司 2022 年度 投资者网上集体接待日"活动，现将有关事项公告如下： 本次投资者网上集体接待日活动将在深圳市全景网络有限公司提供的网上 平台采取网络远程的方式举行，投资者可以登录全景网"投资者关系互动平台" （http://ir.p5w.net/）参与本次投资者网上集体接待日活动，本次活动时间为 2022 年 11 月 16 日（星期三）下午 14:00-16:00。 届时公司董事会秘书赵子阳先生、财务总监许曰玲女士将通过网络在线形式 与投资者就公司经营状况、发展战略、投资者保护、三季度报告等投资者关 ...

Financial Performance - The company's revenue for Q3 2022 was ¥407,541,501.26, a decrease of 7.13% compared to the same period last year[6]. - Net profit attributable to shareholders was ¥2,051,019.73, down 85.52% year-on-year[6]. - The net profit after deducting non-recurring gains and losses was -¥5,756,564.68, a decline of 143.44% compared to the previous year[6]. - Total operating revenue for the current period is ¥1,358,102,328.45, a slight decrease of 0.04% compared to ¥1,360,670,490.62 in the previous period[18]. - Net profit for the current period is ¥58,975,261.29, a decrease of 31.5% compared to ¥86,073,414.76 in the previous period[19]. - Basic and diluted earnings per share are both ¥0.25, down from ¥0.38 in the previous period[19]. Assets and Liabilities - Total assets increased to ¥1,959,395,631.65, representing a growth of 16.05% from the end of the previous year[6]. - Total assets as of September 30, 2022, amounted to CNY 1,959,395,631.65, an increase from CNY 1,688,335,544.59 at the beginning of the year[15]. - Current assets totaled CNY 977,494,519.40, up from CNY 874,825,501.27 at the start of the year, reflecting a growth of approximately 11.5%[15]. - Total liabilities reached CNY 1,025,402,791.63, compared to CNY 794,297,131.08 at the beginning of the year, representing an increase of about 29.1%[16]. - Total equity attributable to shareholders was CNY 933,992,840.02, up from CNY 894,038,413.51, marking an increase of about 4.4%[16]. Cash Flow - The company's cash flow from operating activities showed a net outflow of -¥79,481,403.57, a decrease of 7.79% year-on-year[6]. - Cash flow from operating activities showed a net outflow of ¥79,481,403.57, compared to a net outflow of ¥73,737,659.37 in the previous period[21]. - Cash flow from investing activities resulted in a net outflow of ¥72,351,034.57, worsening from a net outflow of ¥35,309,942.42 in the previous period[21]. - Cash flow from financing activities generated a net inflow of ¥88,609,609.76, down from ¥382,295,858.15 in the previous period[22]. - The ending cash and cash equivalents balance is ¥142,242,365.51, a decrease from ¥381,267,771.06 in the previous period[22]. Inventory and Borrowings - The inventory level rose by 108.27% to ¥246,967,797.13 due to increased production output[10]. - Short-term borrowings increased by 77.40% to ¥310,450,000.00, reflecting higher cash payments for operations[10]. - Short-term borrowings increased to CNY 310,450,000.00 from CNY 175,000,000.00, reflecting a growth of approximately 77.4%[16]. - Inventory levels rose significantly to CNY 246,967,797.13, compared to CNY 118,579,434.22 at the beginning of the year, indicating a growth of approximately 108.3%[15]. Expenses - The company reported a significant increase in management expenses by 39.41% to ¥71,335,272.63, primarily due to increased equity incentive expenses[10]. Shareholder Information - The company has no preferred shareholders as indicated in the report[13]. - The number of common shareholders at the end of the reporting period was 17,909[12]. Audit Information - The company did not conduct an audit for the third quarter report[23].

Financial Performance - The company's operating revenue for the first half of 2022 was RMB 950,560,827.19, representing a 3.12% increase compared to RMB 921,820,159.40 in the same period last year [32]. - Net profit attributable to shareholders decreased by 22.36% to RMB 56,924,241.56 from RMB 73,322,358.53 year-on-year [32]. - The net cash flow from operating activities was negative at RMB -109,263,547.46, a decline of 133.59% compared to RMB -46,774,861.48 in the previous year [32]. - Basic earnings per share fell by 21.88% to RMB 0.25 from RMB 0.32 in the same period last year [32]. - Total assets increased by 13.80% to RMB 1,921,273,512.30 from RMB 1,688,335,544.59 at the end of the previous year [32]. - The net assets attributable to shareholders rose by 3.90% to RMB 928,944,992.25 from RMB 894,038,413.51 at the end of the previous year [32]. - The company achieved a weighted average return on equity of 6.15%, down from 9.37% in the previous year [32]. - The company reported a total revenue of CNY 950.56 million, a year-on-year increase of 3.12% [54]. - The company reported a net profit attributable to shareholders of CNY 56.92 million, a decrease of 22.36% compared to the previous year [54]. Capacity Expansion and New Projects - The company has added 40,000 tons of new capacity for MBS products in the past two years, which may lead to increased competition and potential impacts on profit margins [9]. - The company is currently preparing for trial production of a 60,000 tons/year biodegradable polymer material PBAT project and a 20,000 tons/year epoxy chloropropane project [10]. - The company is focusing on expanding its biodegradable materials business, with a planned annual production capacity of 60,000 tons for PBAT, currently in trial production preparation [44]. - The company plans to invest in new projects, including an annual production of 16,000 tons of ACR impact modifier and 60,000 tons of MBS impact modifier and engineering plastic additives [152]. - The annual production project of 16,000 tons of ACR is being implemented as scheduled, while the 60,000 tons project is in the process of obtaining necessary approvals [152]. Market and Competition - The company has entered new product areas including engineering plastic additives and biodegradable materials PBAT/PBS, which may face market competition and demand uncertainties [12]. - The company aims to enhance product quality and performance in the MBS segment to capture market share from foreign competitors [49]. - The company is actively developing engineering plastic additives, which are expected to have higher product added value and face less competition due to higher technical barriers [43]. - The domestic market demand for PC/ABS impact modifiers is approximately 30,000 to 50,000 tons, indicating significant growth potential [54]. Financial Management and Investment - The company plans to not distribute cash dividends or issue bonus shares, indicating a focus on reinvestment [14]. - The company has committed to an investment project with a total investment of RMB 32,000 million for the production of 60,000 tons of biodegradable high molecular materials, with 56.83% of the investment completed [86]. - The company has verified the raised funds' status through an audit report, ensuring compliance with regulations [83]. - The company has utilized 1.20 billion yuan of idle raised funds to temporarily supplement working capital, which is expected to be returned to the special account for raised funds within 12 months [87]. Raw Material and Cost Management - The company has experienced significant fluctuations in the prices of key raw materials, including a sharp increase in the price of butadiene, which may affect production costs and profitability [5]. - The company has implemented measures to mitigate risks associated with raw material price volatility, including flexible pricing strategies for its products [5]. - The company plans to continuously expand procurement channels and adjust purchasing strategies in response to market changes to mitigate raw material price risks [96]. - The company has established a stable procurement system to ensure the quality and cost-effectiveness of raw materials [45]. Safety and Environmental Compliance - The company emphasizes strict safety management and environmental compliance in its production processes to mitigate risks associated with hazardous materials [8]. - The company has implemented a wastewater treatment process involving hydrolysis, anaerobic treatment, and contact oxidation, ensuring compliance with environmental standards [116]. - The company has established a safety management system and has passed the "Level 2 Safety Production Standardization" certification [125]. - The company has developed an emergency response plan for environmental incidents, which was filed with the local ecological environment bureau [118]. Shareholder and Corporate Governance - The company has not engaged in any entrusted financial management or derivative investments during the reporting period, reflecting a conservative investment strategy [89][90]. - The company has not experienced any changes in the projects funded by raised capital during the reporting period, maintaining consistency in its investment strategy [88]. - The company has not faced any administrative penalties related to environmental issues during the reporting period [120]. - The company has a stable profit distribution policy and actively communicates with investors to enhance transparency and trust [123].

Revenue and Profit - Revenue for Q1 2022 reached ¥501,228,023.58, an increase of 26.04% compared to ¥397,688,837.01 in the same period last year[5] - Net profit attributable to shareholders was ¥31,394,431.21, a slight increase of 0.46% from ¥31,250,331.68 year-on-year[5] - Operating profit for the current period was ¥36,659,936.81, slightly up from ¥35,692,333.37, reflecting a growth of 2.7%[21] - Net profit for the current period was ¥31,394,431.21, compared to ¥30,690,072.27 in the previous period, indicating a growth of 2.3%[21] Cash Flow and Liquidity - Net cash flow from operating activities was -¥90,964,610.07, a decrease of 69.57% compared to -¥53,643,922.46 in the previous year[10] - Cash flow from operating activities showed a net outflow of ¥90,964,610.07, worsening from a net outflow of ¥53,643,922.46 in the prior period[26] - Cash and cash equivalents decreased to CNY 122,089,846.92 from CNY 233,330,940.31, representing a decline of approximately 47.7%[16] - Cash and cash equivalents at the end of the period totaled ¥110,338,912.77, compared to ¥76,381,701.66 at the end of the previous period[26] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,727,646,706.14, reflecting a 2.33% increase from ¥1,688,335,544.59 at the end of the previous year[5] - Current assets totaled CNY 882,804,441.51, slightly up from CNY 874,825,501.27, indicating a growth of about 0.11%[16] - Total liabilities stood at CNY 799,303,501.88, a slight increase from CNY 794,297,131.08, reflecting a growth of about 0.64%[18] - The company’s long-term borrowings increased by 40.93% to ¥169,400,000.00 from ¥120,200,000.00 at the beginning of the period[9] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 19,335, with the largest shareholder holding 22.28% of the shares[11] - The total equity attributable to shareholders increased by 3.84% to ¥928,343,204.26 from ¥894,038,413.51 at the end of the previous year[6] - The company reported a total of 43,455,519 shares under lock-up agreements, with no changes during the period[13] Expenses - Research and development expenses decreased by 69.19% to ¥866,834.70 from ¥2,813,347.35 in the previous year[10] - The company reported a 53.24% increase in sales expenses, totaling ¥30,928,946.84, due to higher shipping volumes and increased market development costs[9] - The company incurred financial expenses of ¥4,425,646.49, which increased from ¥2,707,231.39, reflecting a rise of 63.5%[21] Earnings Per Share - The company's basic earnings per share remained unchanged at ¥0.14, while diluted earnings per share also stayed at ¥0.13[5] - Basic earnings per share remained stable at ¥0.14, consistent with the previous period[22]

Financial Performance - The company's revenue for 2021 reached ¥1,858,407,907.25, representing a 42.75% increase compared to ¥1,301,874,623.93 in 2020[31]. - Net profit attributable to shareholders was ¥92,868,545.21, an increase of 8.80% from ¥85,354,039.84 in the previous year[31]. - The net profit after deducting non-recurring gains and losses was ¥106,169,960.01, up 33.81% from ¥79,345,621.25 in 2020[31]. - The net cash flow from operating activities was ¥111,139,670.47, a significant increase of 121.27% compared to ¥50,227,627.89 in 2020[31]. - Basic earnings per share increased to ¥0.40, up 8.11% from ¥0.37 in 2020[31]. - Total assets at the end of 2021 were ¥1,688,335,544.59, reflecting a 28.19% increase from ¥1,317,092,667.59 at the end of 2020[31]. - Shareholders' equity attributable to the company was ¥894,038,413.51, a 19.87% increase from ¥745,843,493.19 in 2020[31]. - The company achieved total operating revenue of CNY 1,858.41 million, a year-on-year increase of 42.75%[78]. - The net profit attributable to shareholders reached CNY 92.87 million, reflecting an 8.80% year-on-year growth[78]. Production Capacity and Expansion - The company added 20,000 tons of MBS and 20,000 tons of MC production capacity in both 2020 and 2021, with ongoing projects including a 60,000 tons biodegradable polymer material PBAT project and a 20,000 tons epoxy chloropropane project[10]. - The company has a total production capacity of 180,000 tons, with ACR and MBS products each having a capacity of 70,000 tons, and MC products having a capacity of 40,000 tons[42]. - The company has expanded into the engineering plastic additives market, achieving a production capacity of 30,000 tons per year for engineering plastic additives by modifying existing MBS production lines[44]. - The company plans to invest in a new production capacity of 16,000 tons/year for ACR impact modifiers and has a total capacity of 70,000 tons/year for ACR products with a utilization rate of 97.53%[68]. - The company plans to expand its production capacity with new projects, including a 60,000 tons/year biodegradable polymer material PBAT project[112]. Market and Competition - The company faces intensified competition in the ACR product market, necessitating ongoing product development and quality improvements to avoid homogenization risks[9]. - The company is actively expanding its product lines, including new ventures into engineering plastic additives and biodegradable materials, while acknowledging the associated market and technical risks[12]. - The company is entering new product areas, including engineering plastic additives and biodegradable materials PBAT, which may face market competition and demand uncertainties[145]. - The company is exploring the competitive landscape of biodegradable materials and the implications of national policies on degradable materials[149]. - The company is assessing the impact of new capacity on market demand and profitability for biodegradable products[151]. Research and Development - The company is focusing on R&D for new products such as ACR processing aids and MBS impact modifiers[25]. - The company is committed to transparency regarding its patent applications and any related disputes in the PBAT sector[151]. - The company is engaged in ongoing research and development for PBAT technology to enhance production efficiency[149]. - The company’s R&D investment amounted to ¥93,013,659.39 in 2021, representing 5.01% of operating revenue, an increase from 4.84% in 2020[105]. - The company is developing high compatibility MBS resin to meet market demands for improved compatibility and transparency[103]. Raw Material Management - The company has experienced significant fluctuations in raw material prices, with styrene and butadiene prices rising sharply in the first half of the year before declining in the fourth quarter[5]. - The company has implemented measures to mitigate risks related to raw material price volatility, including diversifying procurement channels and adjusting sales prices accordingly[5]. - The average procurement price of methyl methacrylate increased by 20.57% from the previous year, reaching 11,299.22 CNY/ton[66]. - The procurement cost of butadiene rose by 35.97% year-on-year, with the current price at 7,647.04 CNY/ton[66]. - The average procurement price of acrylic acid butyl ester increased by 93.60% from the previous year, now at 13,667.60 CNY/ton[66]. Legal and Compliance - The company has a legal dispute involving patent rights with Zhongke Qicheng New Materials Technology (Hainan) Co., Ltd., with the latest developments indicating a favorable outcome for the company[13]. - The company has established a complete governance structure in accordance with the Company Law and its articles of association[164]. - The company has implemented a robust information disclosure system to ensure timely and accurate communication with investors[161]. - The company has not reported any significant related party transactions or conflicts of interest[167]. Financial Management - The company completed the issuance of 3.4 billion CNY in convertible bonds to fund the construction of a 60,000-ton PBAT biodegradable plastic project and to supplement working capital[83]. - The company raised a total of CNY 34,000 million through the issuance of convertible bonds, with a net amount of CNY 333,448,330.19 after deducting issuance costs[125]. - The company reported a net increase in cash and cash equivalents of ¥95,368,018.85, a remarkable rise of 245.69% compared to ¥27,587,564.69 in 2020, mainly due to funds raised from convertible bonds[107]. - The company has a comprehensive production capacity of 180,000 tons, with advanced production equipment and high automation levels[74]. Corporate Governance - The company has established independent operational capabilities, ensuring no interference from controlling shareholders in decision-making[159]. - The governance structure is compliant with relevant laws and regulations, enhancing transparency and shareholder rights[158]. - The company has maintained a stable management structure, with no reported penalties from regulatory bodies for its executives[171][173]. - The company’s board and management team have maintained stable shareholding structures with no significant changes reported during the period[167]. Employee Management - The company had a total of 888 employees at the end of the reporting period, with 659 in the parent company and 221 in major subsidiaries[198]. - The professional composition includes 219 production personnel, 67 sales personnel, 90 technical personnel, 17 financial personnel, and 87 administrative personnel[198]. - Specific training plans have been developed for various positions, including onboarding, management training, and safety training, to improve employee skills and knowledge[200].

Revenue and Profit - Revenue for Q3 2021 reached ¥438,850,331.22, an increase of 25.13% year-over-year, while year-to-date revenue totaled ¥1,360,670,490.62, up 55.67% compared to the same period last year[5] - Net profit attributable to shareholders decreased by 51.47% in Q3 2021 to ¥14,163,954.78, with a year-to-date net profit of ¥87,486,313.31, reflecting a 44.72% increase[5] - Basic earnings per share for Q3 2021 was ¥0.06, down 50.00% year-over-year, while year-to-date earnings per share was ¥0.38, up 46.15%[5] - Total operating revenue for the third quarter reached ¥1,360,670,490.62, a significant increase of 55.7% compared to ¥874,098,649.03 in the same period last year[22] - Operating profit for the period was ¥104,212,044.25, up 39.2% from ¥74,776,652.99 year-over-year[22] - Net profit attributable to the parent company was ¥87,486,313.31, representing a 44.8% increase from ¥60,452,394.74 in the previous year[23] - Basic and diluted earnings per share both improved to ¥0.38, compared to ¥0.26 in the same quarter last year[24] - The company reported a total profit of ¥102,316,178.60, which is a 41.6% increase from ¥72,264,488.04 in the same quarter last year[23] Assets and Liabilities - Total assets increased by 40.65% from the end of the previous year to ¥1,852,459,225.27[6] - As of September 30, 2021, the total assets of Shandong Ruifeng High Polymer Materials Co., Ltd. reached CNY 1,852,459,225.27, an increase from CNY 1,317,092,667.59 at the end of 2020, representing a growth of approximately 40.5%[18] - The company's current assets amounted to CNY 1,071,634,834.16, up from CNY 774,898,382.52 at the end of 2020, indicating a growth of about 38.3%[19] - The company's total equity attributable to shareholders increased by 18.93% to ¥887,056,298.69 compared to the end of the previous year[6] - Total liabilities increased to ¥950,148,768.71, up from ¥554,582,117.98, indicating a rise of 71.2%[22] - The total liabilities of the company were not explicitly stated, but the increase in current liabilities, such as accounts payable, to CNY 112,479,090.04 from CNY 95,337,177.32, reflects a growth of about 18%[19] Cash Flow - Cash flow from operating activities showed a significant decline, with a net cash outflow of ¥73,737,659.37, a decrease of 358.96% compared to the previous year[11] - Cash inflow from operating activities was ¥946,842,313.61, compared to ¥674,712,654.33 in the previous year, marking an increase of 40.4%[26] - Cash paid for purchasing goods and services was ¥843,282,578.20, up from ¥513,424,622.98, reflecting a 64.2% increase[26] - The net cash flow from operating activities was -73,737,659.37 CNY, compared to 28,474,170.58 CNY in the previous year, indicating a significant decline[27] - Cash inflow from financing activities totaled 650,264,754.00 CNY, compared to 229,500,000.00 CNY in the previous year, showing a substantial increase[27] - The net cash flow from financing activities was 382,295,858.15 CNY, significantly higher than 18,171,168.11 CNY in the previous year[27] - The total cash and cash equivalents at the end of the period were 381,267,771.06 CNY, compared to 51,076,780.28 CNY at the end of the same period last year[27] Investments and Projects - The company reported a 71.76% increase in operating costs, totaling ¥1,110,934,282.22, due to higher sales volume[11] - The company’s investment income reached ¥430,673.58, attributed to returns from cash management products purchased by subsidiaries[11] - The company is currently engaged in the construction of a new 40,000 tons/year transparent MBS resin project and a 60,000 tons/year biodegradable polymer PBAT project[11] - The company issued 3.4 million convertible bonds with a total value of CNY 34,000,000.00, which began trading on October 18, 2021[16] Other Financial Metrics - Cash inflow from investment activities totaled 40,499,103.39 CNY, up from 473,418.45 CNY year-over-year[27] - The net cash flow from investment activities was -35,309,942.42 CNY, an improvement from -76,642,617.37 CNY in the same period last year[27] - The company received tax refunds amounting to ¥19,867,375.96, compared to ¥2,209,803.86 in the previous year, indicating a substantial increase[26] - The company reported a significant increase in other current assets to CNY 20,859,993.95 from CNY 2,432,594.45, marking a growth of approximately 759%[19] Audit and Compliance - The third-quarter report was not audited, which may affect the reliability of the financial data presented[29] - The company did not need to adjust the beginning balance sheet items due to the new leasing standards as there were no leasing transactions affecting the balance sheet[28]

Financial Performance - The company's operating revenue for the first half of 2021 was RMB 921,820,159.40, representing a 76.13% increase compared to RMB 523,380,070.19 in the same period last year [33]. - The net profit attributable to shareholders of the listed company reached RMB 73,322,358.53, a significant increase of 134.52% from RMB 31,265,450.46 in the previous year [33]. - The net profit after deducting non-recurring gains and losses was RMB 73,071,152.13, up 180.19% from RMB 26,078,913.92 year-on-year [33]. - The basic earnings per share increased to RMB 0.32, reflecting a growth of 128.57% compared to RMB 0.14 in the same period last year [33]. - The total assets of the company at the end of the reporting period were RMB 1,519,781,445.18, an increase of 15.39% from RMB 1,317,092,667.59 at the end of the previous year [33]. - The net assets attributable to shareholders of the listed company were RMB 797,768,320.21, which is a 6.96% increase from RMB 745,843,493.19 at the end of the previous year [33]. - The company reported a negative net cash flow from operating activities of RMB -46,774,861.48, a decline of 202.67% compared to a positive cash flow of RMB 45,560,137.16 in the same period last year [33]. - The weighted average return on net assets was 9.37%, an increase of 4.85% from 4.52% in the previous year [33]. - The company achieved total operating revenue of 921.82 million yuan, a year-on-year increase of 76.13% [53]. - The net profit attributable to shareholders reached 73.32 million yuan, reflecting a year-on-year growth of 134.52% [53]. Investment and Projects - The company is currently investing heavily in fixed assets, with multiple projects under construction, including a 40,000-ton MBS project and a 60,000-ton PBAT project [12]. - The company is closely monitoring the progress of its investment projects to ensure they meet expected returns and mitigate potential risks [12]. - The company plans to complete a 60,000-ton PBAT project by the end of September 2021, which will significantly expand its biodegradable product offerings [46]. - The company is currently constructing a 60,000 tons/year biodegradable polymer PBAT project and planning a second phase of the same capacity, along with other projects to enhance production capabilities [64]. - The company plans to invest up to 60 million RMB in the expansion of the ACR impact modifier project with an annual production capacity of 30,000 tons [149]. Product Development and Market Strategy - The company plans to introduce new products, including a 60,000-ton PBAT product and a PLA product, with potential market uncertainties and technical risks associated with these new ventures [14]. - The company has achieved breakthroughs in the research and development of high-gloss powder, which will allow it to enter the market for ASA high-gloss powder [24]. - The company is advancing its one-step synthesis technology for polylactic acid (PLA), which has successfully passed pilot testing, indicating a strategic move into the biodegradable materials sector [24]. - The company is actively pursuing market expansion through new product development, particularly in biodegradable materials [82]. - The company is focusing on expanding into biodegradable materials and engineering plastic additives, aligning with national policies [50]. Competition and Market Risks - The company is facing intensified competition in the ACR product market, necessitating ongoing product development and quality improvements [11]. - The company acknowledges potential risks related to market demand and competition for its new products, which may affect their market entry [100]. - The company is facing significant competition in the ACR product market, which may impact its gross margin if competitors engage in price dumping [97]. Financial Management and Risks - The company does not plan to distribute cash dividends or issue bonus shares for the reporting period [16]. - The company is enhancing internal controls and measures to mitigate the risk of bad debts, given the high level of accounts receivable [9]. - The company has established a dedicated legal department to handle accounts receivable collection and reduce bad debt risks [95]. - The company emphasizes the importance of stable raw material procurement through long-term partnerships and competitive bidding processes [48]. - The company has not engaged in any derivative investments or entrusted loans during the reporting period, maintaining a conservative financial strategy [88]. Environmental and Safety Compliance - The company has a comprehensive safety management system in place to mitigate risks associated with the use of flammable and explosive chemicals [10]. - The company is committed to complying with environmental regulations and may need to upgrade processes and equipment in response to evolving regulatory requirements [96]. - The company has established strict environmental protection measures, including wastewater treatment processes and emissions monitoring [114]. - The company reported a total VOCs emission of 7.4 tons for the first half of the year, with no exceedances of the emission standards [114]. - The company has not faced any administrative penalties related to environmental issues during the reporting period [117]. Shareholder and Corporate Governance - The company held its annual general meeting with a participation rate of 25.93% on May 10, 2021 [107]. - The company has a stable profit distribution policy to ensure reasonable returns to investors [121]. - The actual controller and shareholders have made performance commitments, including a net profit of no less than 5 million RMB for the first year of the commitment period [124]. - The performance commitment period spans from July 1, 2020, to June 30, 2023, with cumulative profit targets set at 3.6 million RMB [124]. - The company actively engages with investors through various communication channels to enhance transparency and trust [121].

Financial Performance - The company's revenue for Q1 2021 reached ¥397,688,837.01, representing a 94.64% increase compared to ¥204,320,117.68 in the same period last year[10] - Net profit attributable to shareholders was ¥31,250,331.68, a significant increase of 181.20% from ¥11,113,348.24 year-on-year[10] - The net profit after deducting non-recurring gains and losses was ¥29,514,665.14, up 234.81% from ¥8,815,392.79 in the previous year[10] - Basic earnings per share rose to ¥0.14, reflecting an increase of 180.00% compared to ¥0.05 in the same period last year[10] - The total operating revenue for Q1 2021 was CNY 397,688,837.01, representing a 94.7% increase compared to CNY 204,320,117.68 in the same period last year[55] - The total operating costs for Q1 2021 were CNY 361,143,297.60, up 88.2% from CNY 191,938,008.14 in Q1 2020[56] - The net profit for Q1 2021 was CNY 30,690,072.27, a significant increase from CNY 11,113,348.24 in Q1 2020, marking a growth of 175.1%[57] - The total comprehensive income for the period was CNY 30,690,072.27, compared to CNY 11,113,348.24 in the previous year, marking an increase of 175.1%[61] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,333,905,705.89, a 1.28% increase from ¥1,317,092,667.59 at the end of the previous year[10] - The company's total assets amounted to CNY 1,267,924,497.38, slightly up from CNY 1,256,999,218.82 at the end of 2020[53] - The total liabilities decreased to CNY 547,857,299.47 from CNY 564,757,282.02 at the end of 2020, reflecting a reduction of 3.0%[53] - The total liabilities decreased to CNY 540,245,973.66 from CNY 554,582,117.98, indicating a decline of approximately 2.6%[49] Cash Flow - The company reported a net cash flow from operating activities of -¥53,643,922.46, an improvement of 9.50% compared to -¥59,277,362.93 in the previous year[10] - The cash flow from operating activities showed a net outflow of CNY 53,643,922.46, an improvement from the outflow of CNY 59,277,362.93 in the same period last year[66] - The company reported a cash balance of CNY 76,381,701.66 at the end of the quarter, compared to CNY 58,239,248.56 at the end of the previous year[66] - The total cash inflow from investment activities was CNY 20,276,164.38, compared to CNY 473,418.45 in the previous year, showing a significant increase[66] Investments and Projects - The company is currently investing in a new project for 40,000 tons/year high transparency MBS resin and 60,000 tons/year biodegradable polymer materials[20] - The company is focusing on the development of biodegradable materials, particularly PBAT, with a planned annual production capacity of 30,000 tons[43] - The company has ongoing projects in the PBAT sector, with considerations for further investments in the second phase of the project[43] - The company is currently investing heavily in fixed assets, with multiple projects under construction, including a 40,000-ton MBS project and a 60,000-ton biodegradable polymer material PBAT project[33] Shareholder Information - The total number of shareholders at the end of the reporting period was 16,014, with the top ten shareholders holding significant stakes in the company[14] Risks and Challenges - The company is facing significant risks from raw material price fluctuations, particularly for key materials like methyl methacrylate and styrene, which have seen substantial price increases[27] - The proportion of accounts receivable to total assets at the end of the reporting period was 20.17%, indicating a relatively high level of receivables risk[30] - The company is currently assessing the impact of rising raw material prices on its operations and future strategies[43] Research and Development - Research and development expenses surged by 147.02% to CNY 2.81 million, indicating increased investment in innovation[21] - The R&D expenses for Q1 2021 were CNY 2,813,347.35, compared to CNY 1,138,914.88 in Q1 2020, indicating a growth of 147.8%[56] Government Support - The company received government subsidies amounting to ¥2,023,557.70, primarily related to major technological innovation projects[11] Internal Controls and Safety - The company is enhancing internal controls to mitigate accounts receivable risks, including regular reconciliations and legal measures for debt collection[30] - The company is committed to strict safety management practices to prevent accidents related to the flammable and explosive chemicals used in production[31] Market Expansion - The company is actively pursuing market expansion and product development to enhance competitiveness in the ACR and MBS product lines[32] - The company is exploring market expansion opportunities and new product development in the biodegradable materials sector[43] Miscellaneous - The company has successfully completed the deregistration of its wholly-owned subsidiary, which will streamline operations[36] - The company has received approval for the issuance of convertible bonds, which will support its investment projects and expansion plans[36] - The company did not undergo an audit for the first quarter report[70]

Financial Performance - The company's operating revenue for 2020 was approximately RMB 1.30 billion, representing a 7.29% increase compared to RMB 1.21 billion in 2019[26]. - The net profit attributable to shareholders for 2020 was approximately RMB 85.35 million, an increase of 14.53% from RMB 74.53 million in 2019[26]. - The total assets at the end of 2020 were approximately RMB 1.32 billion, a 25.92% increase from RMB 1.05 billion at the end of 2019[26]. - The net assets attributable to shareholders at the end of 2020 were approximately RMB 745.84 million, reflecting a 10.49% increase from RMB 675.03 million at the end of 2019[26]. - The basic earnings per share for 2020 was RMB 0.37, up 15.63% from RMB 0.32 in 2019[26]. - The weighted average return on equity for 2020 was 12.05%, compared to 11.68% in 2019[26]. - The company reported a quarterly revenue of RMB 427.78 million in Q4 2020, which was the highest among the four quarters[28]. - The net profit attributable to shareholders in Q3 2020 was RMB 29.19 million, showing a significant increase compared to RMB 20.15 million in Q2 2020[28]. - The company achieved total operating revenue of CNY 1,301.87 million, a year-on-year increase of 7.29%[55]. - The net profit attributable to shareholders reached CNY 85.35 million, reflecting a year-on-year growth of 14.53%[55]. Dividend Distribution - The company plans to distribute a cash dividend of 1.2 CNY per 10 shares (including tax) based on a total of 232,322,851 shares, with no bonus shares issued[13]. - The company distributed a cash dividend of RMB 1.20 per 10 shares, totaling RMB 27,878,742.12 for the year 2020[145]. - The total distributable profit available for shareholders as of December 31, 2020, was RMB 352,727,618.30[145]. - The cash dividend payout ratio for 2020 was 32.66% of the net profit attributable to shareholders[146]. - The company has maintained a consistent cash dividend policy over the past three years, with no stock dividends issued[145]. Production Capacity and Projects - The company is currently constructing several projects, including a 40,000-ton MBS impact modifier project (Phase II) and a 60,000-ton biodegradable polymer material PBAT project, which are expected to enhance production capacity significantly[12]. - The company aims to achieve a production capacity of 70,000 tons by the end of 2021 with the completion of its Phase II project[11]. - The company has a total production capacity of 140,000 tons, with ACR capacity at 70,000 tons, MBS capacity at 50,000 tons, and MC capacity at 20,000 tons[44]. - The first phase of the 40,000 tons MBS impact modifier project was completed and put into production during the reporting period, further strengthening the company's leading position in the industry[44]. - The company is actively constructing a 60,000-ton PBAT biodegradable plastic project, expected to be completed in Q3 2021[60]. - The second phase of the 40,000 tons MC impact modifier project is currently in the debugging stage and has not yet reached operational status[44]. Raw Material Prices and Procurement - The company has experienced significant fluctuations in raw material prices, particularly for methyl methacrylate and butyl acrylate, which could adversely affect production costs and profitability[6]. - The company is actively monitoring and adjusting procurement strategies to manage the volatility of raw material prices[6]. - The average procurement prices for key raw materials have shown significant changes, with methyl methacrylate decreasing by 15.33% and butadiene decreasing by 33.57% compared to the previous year[69]. Competition and Market Position - The company is facing intensified competition in the ACR product market, necessitating ongoing product development and quality improvements to mitigate risks from price competition[11]. - The company is positioned as a leading player in the PVC additives industry, benefiting from the growth of the real estate sector and increasing demand for high-performance PVC products[44]. - The company emphasizes continuous innovation and process improvement to enhance product quality and brand reputation, aiming to avoid vicious competition in the market[122]. Research and Development - The company has a complete independent intellectual property system with over 10 national patents related to its products[70]. - R&D investment amounted to ¥63,049,380.73 in 2020, representing 4.84% of total revenue, an increase from 4.61% in 2019[97]. - The number of R&D personnel was 92 in 2020, accounting for 13.35% of the total workforce[97]. - The company is developing new products including high-strength foaming agents and low-temperature resistant thermoplastic elastomers to enhance product competitiveness[96]. - The company is focusing on the development of biodegradable plastics as a strategic response to environmental regulations and market demand[62]. Safety and Environmental Compliance - The company has a strong focus on safety management and environmental compliance, which is critical given the hazardous nature of the raw materials used in production[10]. - The company is committed to enhancing safety and environmental protection measures, which are critical for sustainable development[126]. - The company adheres to environmental protection standards, with specific measures in place for wastewater and waste gas treatment[192]. - The company has established a strict emergency response plan for environmental incidents, which was filed with the environmental protection bureau[194]. Financial Management and Investments - The company has invested in Suzhou Polymar, which focuses on the research and production of inorganic fireproof materials and smart temperature-changing glass[36]. - The company has received environmental impact assessment approvals for several projects, including the 60,000 tons/year PBAT biodegradable polymer project[71]. - The company is actively pursuing research and development to introduce higher quality and more stable products that meet customer needs[126]. - The company is enhancing its internal management and compliance with regulatory requirements to improve operational efficiency[127]. Social Responsibility - The company emphasizes its commitment to social responsibility, integrating economic development with social obligations[184]. - The company donated a total of 1,360,000 RMB during the reporting period, including 1,000,000 RMB to the Yiyuan County Red Cross for epidemic prevention[189]. - The company actively participates in poverty alleviation efforts, aligning with government initiatives to support local economic development[191].