山东瑞丰高分子材料股份有限公司 2020 年第三季度报告全文 山东瑞丰高分子材料股份有限公司 2020 年第三季度报告 2020 年 10 月 1 山东瑞丰高分子材料股份有限公司 2020 年第三季度报告全文 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。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人周仕斌、主管会计工作负责人许曰玲及会计机构负责人(会计主 管人员)许曰玲声明：保证季度报告中财务报表的真实、准确、完整。 2 山东瑞丰高分子材料股份有限公司 2020 年第三季度报告全文 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 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增 | | --- | --- | --- | --- | --- | | | | | | 减 | | 总资产（元） | 1,207,459,328.12 | | 1,045,978,682.38 | 15.44% | | 归属 ...

证券代码：300243 证券简称：瑞丰高材 公告编号：2020-075 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 2020 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，山东瑞丰高分子材料股份有限公司 （以下简称"公司"）将于 2020 年 9 月 29 日（星期二）下午 15:00-16:55 参加"山 东辖区上市公司 2020 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通过网上平台采取网络远程的方式举行， 投资者可以登录"全景·路演天下"网站 http://rs.p5w.net 参与本次投资者网上集 体接待日活动。 届时公司董事会秘书赵子阳先生、证券事务代表朱西海先生将通过网络在线 交流形式与投资者进行沟通交流，欢迎广大投资者积极参与。 特此公告。 山东瑞丰高分子材料股份有限公司董事会 2020 年 9 月 24 日 ...

Financial Performance - The company's operating revenue for the first half of 2020 was RMB 523,380,070.19, a decrease of 14.16% compared to RMB 609,724,439.89 in the same period last year [27]. - The net profit attributable to shareholders of the listed company was RMB 31,265,450.46, down 29.25% from RMB 44,191,605.59 in the previous year [27]. - The net cash flow from operating activities was RMB 45,560,137.16, representing a significant decline of 59.25% compared to RMB 111,803,071.36 in the same period last year [27]. - The total assets at the end of the reporting period were RMB 1,170,554,683.60, an increase of 11.91% from RMB 1,045,978,682.38 at the end of the previous year [27]. - The net assets attributable to shareholders of the listed company increased by 2.27% to RMB 690,329,772.57 from RMB 675,027,319.98 at the end of the previous year [27]. - The basic earnings per share decreased by 26.32% to RMB 0.14 from RMB 0.19 in the same period last year [27]. - The weighted average return on equity was 4.52%, down from 7.11% in the previous year [27]. - The company reported a total of RMB 5,186,536.54 in non-recurring gains and losses for the period [31]. - The company achieved total operating revenue of CNY 523.38 million, a decrease of 14.16% year-on-year [49]. - Net profit attributable to shareholders was CNY 31.27 million, down 29.41% compared to the previous year [49]. - The company reported a significant decline in cash flow from operating activities, which decreased by 59.25% to CNY 45.56 million due to the impact of COVID-19 [63]. Investment and Projects - The company plans to invest in multiple projects, including a 60,000 tons PBAT biodegradable plastic project, which is currently in the process of obtaining environmental assessment approval [13]. - The company is in the process of building a production capacity of 24,000 tons for epoxy chloropropane (ECH), which is a key organic synthesis raw material [27]. - The company is implementing projects including a 60,000 tons PBAT biodegradable plastic project and a 40,000 tons MBS (Phase II) project [42]. - The company has terminated the investment in a project for producing 50,000 tons of new high-end weather-resistant polymer materials due to significant market and raw material price changes [120]. - The company plans to issue convertible bonds to raise up to CNY 340 million for project construction and working capital [59]. - The company is actively pursuing the construction of a 60,000-ton PBAT biodegradable plastic project, with key equipment already reserved and construction expected to begin in September 2020 [53]. Risk Management - The company is facing risks from raw material price fluctuations, particularly due to the impact of COVID-19 and oil production cuts, which have caused significant price volatility [7]. - The company has identified potential risks related to project investments, including market demand changes and policy adjustments, which could affect expected returns [13]. - The company emphasizes the importance of internal control to mitigate accounts receivable risks, including regular reconciliation and legal measures for collection [9]. - The company is actively monitoring macroeconomic conditions and industry dynamics to adjust its operational strategies accordingly [6]. Research and Development - The company is focusing on product R&D and quality improvement to mitigate risks from intensified competition in the ACR product market [11]. - The company continued to focus on R&D, obtaining 2 invention patents and 2 utility model patents during the reporting period, bringing the total to 67 patents [50]. - The company has successfully achieved a technological breakthrough in inorganic fireproof materials, reaching the same technical level as German counterparts [38]. - The company has obtained 3 new patents during the reporting period, including 2 invention patents and 1 utility model patent [123]. - The company has allocated 14.9 million for R&D in new technologies, aiming to enhance product offerings [191]. Financial Position - The total liabilities rose to CNY 462,806,190.39 from CNY 370,951,362.40, an increase of approximately 24.7% [166]. - The company's cash and cash equivalents grew by 117.40% compared to the beginning of the period, mainly due to the increase in pledged bank acceptance bills [39]. - The company's fixed assets increased by 48.38% compared to the beginning of the period, primarily due to the completion of a 40,000 tons/year high transparency resin project [39]. - The company’s short-term borrowings increased by 51.00% compared to the beginning of the period, due to higher working capital needs [39]. - The company’s accounts payable decreased by 24.56% compared to the beginning of the period, primarily due to increased payments during the period [40]. Shareholder Information - The company will not distribute cash dividends, issue bonus shares, or increase share capital from reserves for this period [14]. - The company distributed a cash dividend of 1.00 RMB per 10 shares to all shareholders, based on a total share capital of 232,322,851 shares [125]. - The total share capital of the company remained unchanged at 232,322,851 shares during the reporting period [133]. - Major shareholder Zhou Shibin held 22.28% of the shares, amounting to 51,752,197 shares, with 38,814,148 shares under restriction [140]. - The company’s independent directors approved the release of restricted shares, indicating compliance with governance standards [134]. Environmental and Safety Management - The company is committed to enhancing safety and environmental management to prevent accidents and comply with regulatory requirements [10]. - The company has implemented a self-monitoring plan for wastewater, waste gas, and noise in compliance with regulations [113]. - The company has reported no instances of exceeding pollution discharge standards in its environmental monitoring [119]. - The company’s subsidiary, Linyi Ruifeng, was recognized as a high-tech enterprise, allowing it to enjoy a 15% corporate income tax rate for three years from 2019 to 2021 [128]. Market Position and Strategy - The company is exploring potential mergers and acquisitions to strengthen its market position [191]. - The company’s market share continued to increase despite the challenges posed by the pandemic and falling raw material prices [49]. - The company plans to expand its market presence and invest in new product development to drive future growth [191]. - The company has set a performance guidance of 10% revenue growth for the next quarter [191].

Financial Performance - Total revenue for Q1 2020 was CNY 204,320,117.68, a decrease of 36.11% compared to CNY 319,824,140.45 in the same period last year[8] - Net profit attributable to shareholders was CNY 11,113,348.24, down 48.34% from CNY 21,511,328.29 year-on-year[8] - Basic earnings per share decreased by 44.44% to CNY 0.05 from CNY 0.09 in the same period last year[8] - The company recorded a 45.90% decline in operating profit, amounting to CNY 13.99 million[20] - Total profit decreased by 48.98% to CNY 13.15 million, primarily due to the impact of the pandemic on sales[20] - Total operating revenue for Q1 2020 was CNY 204.32 million, a decrease of 36% compared to CNY 319.82 million in the same period last year[50] - Operating profit for the first quarter was CNY 13,988,647.48, compared to CNY 25,856,579.65 in the previous year, a decline of about 45.9%[52] - Net profit for the first quarter was CNY 11,113,348.24, down from CNY 21,511,328.29 year-over-year, reflecting a decrease of approximately 48.3%[52] - Total comprehensive income for the first quarter was CNY 11,113,348.24, compared to CNY 21,511,328.29 in the previous year, a decline of about 48.3%[53] - The total profit for the first quarter was CNY 13,149,457.86, down from CNY 25,774,690.27, reflecting a decrease of about 48.9%[52] Cash Flow and Liquidity - Net cash flow from operating activities was negative CNY 59,277,362.93, a significant decline of 3,327.61% compared to negative CNY 1,729,406.59 in the previous year[8] - Cash inflow from financing activities was CNY 56,000,000.00, down from CNY 150,484,670.00 in the previous period[64] - Net cash flow from financing activities was CNY -40,840,373.17, compared to CNY 52,759,189.06 in the previous period[64] - The ending balance of cash and cash equivalents was CNY 56,958,044.09, down from CNY 143,567,444.72 in the previous period[64] - Total cash and cash equivalents decreased by CNY 21,711,812.69 during the period[64] - Operating cash inflow totaled CNY 190,347,964.31, a decrease of 21.2% compared to CNY 241,642,344.92 in the previous period[63] - Net cash flow from operating activities was CNY -40,861,226.56, compared to CNY 10,366,540.51 in the previous period[63] - Cash outflow from investing activities amounted to CNY 40,436,667.97, an increase from CNY 28,622,126.24 in the previous period[63] Assets and Liabilities - Total assets increased by 6.75% to CNY 1,116,540,397.92 from CNY 1,045,978,682.38 at the end of the previous year[8] - Current liabilities rose to CNY 419.54 million, up from CNY 360.54 million, indicating an increase of about 16.3%[44] - The total liabilities increased to CNY 429.69 million from CNY 370.95 million, reflecting an increase of about 15.8%[44] - Total equity attributable to shareholders reached CNY 675,027,319.98, with share capital at CNY 232,322,851.00 and retained earnings at CNY 350,701,193.74[67] - The company’s total liabilities and equity amounted to CNY 1,024,066,216.00, indicating a stable financial position[70] Shareholder Information - The company reported a total of 9,190 common shareholders at the end of the reporting period[12] - The largest shareholder, Zhou Shibin, holds 22.28% of the shares, amounting to 51,752,197 shares[12] - There were no significant changes in the shareholding structure or any repurchase transactions among the top shareholders during the reporting period[13] Research and Development - The company received government subsidies amounting to CNY 3,398,290.70, primarily for research and development[9] - Research and development expenses increased by 99.66% to CNY 1.14 million, reflecting heightened R&D activities[19] - The company is actively expanding its business scope to include the production and research of biodegradable materials and synthetic rubber[35] - The company plans to invest in a new project to produce 60,000 tons of PBAT biodegradable plastics, which has been approved by the board and relevant authorities[35] Inventory and Receivables - Accounts receivable rose by 33.91% to CNY 230.09 million, attributed to the concentration of receivables at year-end[18] - Inventory surged by 98.04% to CNY 146.96 million, influenced by reduced sales volume due to the COVID-19 pandemic[18] - The company’s accounts receivable accounted for 20.61% of total assets at the end of the reporting period, indicating a high level of receivables risk[30] - The company has implemented measures to mitigate risks associated with accounts receivable, including strengthening internal controls and legal actions for collections[30] Market and Competitive Landscape - The company is facing risks from macroeconomic fluctuations and raw material price volatility, which could impact profitability[27][28] - The company has noted that the competitive landscape for its ACR products is intensifying, prompting ongoing product development and quality improvements[32] - The company is committed to enhancing safety and environmental standards in its operations, which may require adjustments to comply with new regulations[31]

Financial Performance - The company's operating revenue for 2019 was CNY 1,213,369,670.91, a decrease of 16.06% compared to CNY 1,445,439,011.75 in 2018[24]. - The net profit attributable to shareholders for 2019 was CNY 74,525,409.20, down 17.37% from CNY 90,188,278.61 in the previous year[24]. - The net profit after deducting non-recurring gains and losses was CNY 70,384,940.85, a decline of 23.06% compared to CNY 91,483,492.30 in 2018[24]. - The net cash flow from operating activities increased by 97.33% to CNY 122,339,677.45 from CNY 61,997,618.13 in 2018[24]. - The total assets at the end of 2019 were CNY 1,045,978,682.38, a slight decrease of 0.99% from CNY 1,056,450,473.11 in 2018[24]. - The net assets attributable to shareholders increased by 12.23% to CNY 675,027,319.98 from CNY 601,456,824.95 in 2018[24]. - Basic earnings per share for 2019 were CNY 0.32, down 20.00% from CNY 0.40 in 2018[24]. - The weighted average return on equity was 11.68%, a decrease of 4.62% from 16.30% in 2018[24]. - The company reported a total profit of 91.14 million yuan, a decrease of 13.87% year-on-year[37]. - The company achieved total operating revenue of CNY 1,213.37 million, a year-on-year decrease of 16.06%[51]. Dividend Distribution - The company plans to distribute a cash dividend of 1.00 yuan (including tax) for every 10 shares, based on a total share capital of 232,322,851 shares[14]. - The cash dividend distribution for 2019 represents 31.17% of the net profit attributable to ordinary shareholders[108]. - The company distributed cash dividends of RMB 1.00 per 10 shares, totaling RMB 21,120,559.20, and capital reserve conversion of 21,120,559 shares[148]. Projects and Capacity Expansion - The company is currently constructing several projects, including a 40,000-ton MBS impact modifier project and a 60,000-ton PBAT biodegradable plastic project, which are expected to enhance production capacity[14]. - The company is actively developing a new 40,000 tons/year MBS project to enhance its market position[41]. - The company plans to start construction on a 60,000-ton PBAT biodegradable plastic project in June 2020, with completion expected by June 2021[56]. - The company has set a target to complete the construction of a 40,000-ton MBS project and a 20,000-ton epoxy chloropropane project to generate benefits as soon as possible[98]. Research and Development - The company has obtained a total of 63 patents, including 39 invention patents, demonstrating its strong R&D capabilities[44]. - Research and development expenses for the year amounted to ¥55,879,162.18, representing 4.61% of operating revenue[72]. - The number of R&D personnel increased to 92, accounting for 15.86% of the total workforce[72]. - The company is actively developing new products and improving existing processes, with increased investment in R&D[52]. - The company is focusing on continuous innovation and quality improvement to enhance its brand advantage in the competitive PVC additives market[95]. Market and Competition - The company faces risks from intensified industry competition, particularly in the ACR product line, and is focusing on product R&D and customized services to mitigate these risks[11]. - The company acknowledges the potential impact of macroeconomic risks and the COVID-19 pandemic on market demand and is prepared to adjust its operational strategies accordingly[6]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2025[197]. Environmental and Safety Measures - The company has implemented new waste gas treatment and detection devices to reduce environmental risks and has eliminated coal-fired heating systems in its ACR and MBS plants[10]. - The company is committed to enhancing safety management and environmental compliance, having made significant investments in safety and green production technologies[10]. - The company emphasizes safety and environmental protection as essential for sustainable development, with increased investment in environmental governance[97]. - The company strictly adhered to environmental regulations and was not classified as a key pollutant unit[143]. Financial Management and Internal Controls - The company emphasizes the importance of internal controls to manage accounts receivable and reduce bad debt risks, especially given the macroeconomic uncertainties[9]. - The company has strengthened internal management and control systems to mitigate operational risks[54]. - The company has taken measures to monitor and adjust procurement strategies in response to fluctuations in raw material prices, which are closely tied to its profitability[7]. Shareholder Changes - Shareholder Jiangsu Ruiyuan increased its stake by 4,458,014 shares, raising its total ownership from 12.364% to 14.474%[144]. - Shareholder Mr. Sang Peizhou reduced his stake by 11,417,200 shares, accounting for 5.41% of the total share capital[144]. - The largest shareholder, Zhou Shibin, holds 22.28% of the shares, totaling 51,752,197 shares, with a decrease of 4,704,745 shares during the reporting period[173]. - Jiangsu Ruiyuan Investment Co., Ltd. is the second-largest shareholder with a 10.28% stake, holding 23,882,188 shares, which increased by 6,629,122 shares[173]. Miscellaneous - The company has not faced any major litigation or arbitration matters during the year[119]. - The company has no penalties or rectification situations reported during the reporting period[120]. - The company has not sold any significant assets during the reporting period[91]. - The company did not engage in any related party transactions during the reporting period[126].

Financial Performance - Operating revenue for the reporting period was CNY 292,474,715.85, down 14.58% year-on-year[8] - Net profit attributable to shareholders of the listed company decreased by 49.25% to CNY 13,543,495.94[8] - Basic earnings per share were CNY 0.06, a decrease of 45.45% compared to the same period last year[8] - Total operating revenue for Q3 2019 was CNY 292,474,715.85, a decrease of 14.6% compared to CNY 342,388,240.16 in the same period last year[40] - Net profit for Q3 2019 was CNY 13,543,495.94, representing a decline of 49.3% from CNY 26,688,370.97 in Q3 2018[41] - The company's operating revenue for the current period is ¥339,649,511.60, a decrease of 19.6% compared to ¥422,438,280.23 in the previous period[44] - Net profit for the current period is ¥13,407,899.02, a decline of 52.0% compared to ¥27,891,867.22 in the previous period[45] - The company reported a total profit of ¥16,377,999.97, down 47.9% from ¥31,467,265.11 in the previous period[44] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,017,606,757.27, a decrease of 3.68% compared to the end of the previous year[8] - The company's total assets amounted to CNY 1,001,419,128.87, a decrease from CNY 1,034,726,145.29 at the end of the previous quarter[38] - Total liabilities decreased to CNY 361,088,280.01 from CNY 454,993,648.16, a decline of approximately 20.6%[32] - The total liabilities amounted to 454,998,148.16 CNY, with current liabilities accounting for 440,517,205.00 CNY[64] - The company's total liabilities decreased significantly, with a 44.50% reduction in employee compensation payable to ¥5,995,026.46[19] Shareholder Information - Net assets attributable to shareholders of the listed company increased by 9.15% to CNY 656,518,477.26[8] - The total number of ordinary shareholders at the end of the reporting period was 9,584[12] - The largest shareholder, Zhou Shibin, held 22.28% of the shares, amounting to 51,752,197 shares[12] - The company's equity attributable to shareholders increased to CNY 656,518,477.26 from CNY 601,456,824.95, an increase of about 9.1%[33] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 104,591,074.73, an increase of 359.37%[8] - The net cash flow from operating activities improved by 359.37% to ¥104,591,074.73, driven by the collection of bills receivable and reduced procurement payments[20] - The net cash flow from investment activities was -58,990,501.05 CNY, compared to -25,628,681.51 CNY in the previous year, indicating a significant increase in cash outflow[60] - Cash and cash equivalents at the end of the period totaled 72,545,447.54 CNY, down from 93,301,711.57 CNY at the beginning of the period, reflecting a decrease of 20,756,264.03 CNY[60] Research and Development - R&D expenses surged by 607.56% to ¥3,948,205.52, reflecting increased investment in research and development[19] - Research and development expenses for Q3 2019 were CNY 1,548,267.04, significantly higher than CNY 54,197.96 in Q3 2018, indicating a focus on innovation[40] - Research and development expenses increased significantly to ¥663,311.24 from ¥54,197.96, marking a growth of 1,225.5%[44] - Research and development expenses increased significantly to ¥2,089,798.42, compared to ¥558,006.15 in the same period last year, reflecting a growth of 273.5%[52] Other Income and Expenses - Non-operating income included government subsidies of CNY 5,275,410.10 received during the reporting period[9] - The company reported a 438.40% increase in other income to ¥5,666,553.52, due to the transfer of previously deferred government subsidies[20] - The company recorded other income of ¥1,730,414.30, an increase from ¥332,084.27 in the previous period[44] - The company's tax expenses for Q3 2019 were ¥9,552,585.02, down from ¥11,017,150.71, reflecting a decrease of 13.3%[52] Dividend and Future Outlook - The company proposed a cash dividend of CNY 1.00 per 10 shares, totaling CNY 21,120,559.20, which was approved at the annual general meeting[25] - The company reported no significant changes in net profit or major losses expected for the upcoming reporting period[26] - There were no violations regarding external guarantees or non-operating fund occupation by controlling shareholders during the reporting period[27] Production Capacity and Projects - The company plans to expand its production capacity from 120,000 tons to 180,000 tons after the completion of new projects, enhancing its market position[22] - The first phase of the 40,000 tons/year MBS project is expected to commence operations by March 31, 2020, increasing total MBS capacity to 50,000 tons[21]

Financial Performance - The total operating revenue for the first half of 2019 was RMB 609,724,439.89, a decrease of 18.07% compared to RMB 744,174,428.95 in the same period last year [24]. - The net profit attributable to shareholders of the listed company was RMB 44,191,605.59, down 18.61% from RMB 54,295,173.04 year-on-year [24]. - The net profit after deducting non-recurring gains and losses was RMB 40,934,767.61, a decline of 27.74% compared to RMB 56,647,944.07 in the previous year [24]. - Basic earnings per share decreased by 20.83% to RMB 0.19 from RMB 0.24 in the previous year [24]. - The total comprehensive income for the first half of 2019 was CNY 38,865,189.09, compared to CNY 42,974,578.62 in the same period of 2018, reflecting a decrease [160]. - The company reported a net loss of 21,120,559.20 CNY in the first half of 2019, impacting overall profitability [178]. Assets and Liabilities - The total assets at the end of the reporting period were RMB 1,072,291,457.63, reflecting a 1.50% increase from RMB 1,056,450,473.11 at the end of the previous year [24]. - Cash and cash equivalents at the end of the reporting period amounted to CNY 160.95 million, representing 15.01% of total assets, up from 7.84% year-over-year [61]. - Accounts receivable decreased by 1.25% year-over-year to CNY 211.10 million, accounting for 19.69% of total assets [61]. - Total liabilities decreased to CNY 431,362,373.85 from CNY 454,993,648.16, reflecting a reduction of about 5.2% [146]. - The company's equity increased to CNY 640,929,083.78 from CNY 601,456,824.95, indicating a growth of approximately 6.5% [146]. Cash Flow - The net cash flow from operating activities was RMB 111,803,071.36, a significant increase of 7,554.46% from a negative RMB 1,499,815.23 in the same period last year [24]. - Operating cash inflow for the first half of 2019 was CNY 535,183,299.53, an increase of 12.5% from CNY 475,985,044.69 in the first half of 2018 [163]. - The company reported a net cash outflow from investing activities of CNY 29,343,034.73, compared to a net outflow of CNY 15,622,619.16 in the previous year [164]. - Cash flow from financing activities showed a net outflow of CNY 38,559,910.53, a decrease from a net inflow of CNY 56,430,888.72 in the first half of 2018 [164]. Investments and Projects - The company is currently constructing a 40,000-ton MBS impact modifier project, which is in the installation phase and expected to be operational by the end of 2019 [11]. - The company plans to invest in the renovation of a 20,000-ton epoxy chloropropane facility, aiming for it to be operational by the end of 2019, due to favorable market sales of epoxy chloropropane products [11]. - The company is currently evaluating the implementation plan for a 50,000-ton high-end weather-resistant polymer project, which has been temporarily postponed for further assessment [11]. - The total investment during the reporting period was CNY 29.47 million, an increase of 79.91% compared to the same period last year [65]. Market and Competition - The company is facing intensified competition in the ACR product market, which may affect profit margins if new capacities are added excessively [10]. - During the reporting period, the company's sales volume and revenue from main products decreased year-on-year due to factors such as a decline in raw material prices and the macroeconomic environment, leading to a decrease in profit [35]. - The company has nearly 3,000 domestic customers and exports products to over 60 countries and regions, including Europe, South Asia, and Southeast Asia [42]. Research and Development - The company holds a total of 41 valid patents, including 32 invention patents and 9 utility model patents, reflecting its strong R&D capabilities [37]. - The company has invested in the development of new processes and products for PVC additives, maintaining advanced production technology and R&D capabilities [37]. - Research and development expenses increased significantly to CNY 2.40 million, compared to CNY 0.50 million in the first half of 2018, reflecting a focus on innovation [154]. Risk Management - The company acknowledges risks related to macroeconomic conditions and industry policies that may impact demand for its products, particularly in the construction and decoration materials sectors [9]. - The company has implemented measures to mitigate bad debt risks associated with accounts receivable, including strengthening internal controls and legal measures for collection [7]. - The company is focusing on improving its risk management strategies to safeguard against market volatility [171]. Corporate Governance - The company has not declared any cash dividends, stock bonuses, or capital increases from reserves for this reporting period [12]. - The company did not experience any changes in its registered information during the reporting period [23]. - The company has not engaged in any significant asset or equity sales during the reporting period [74]. - The company has not engaged in any related party transactions during the reporting period [94]. Environmental and Safety Compliance - The company emphasizes strict safety management and environmental compliance, investing in process equipment improvements to meet new safety and green production requirements [8]. - The company has eliminated coal-fired heating systems in its ACR and MBS plants, transitioning to municipal steam for safer and more environmentally friendly production [51]. - There were no significant environmental protection issues reported, and the company is not listed as a key pollutant unit by environmental authorities [105].

Financial Performance - Total operating revenue for Q1 2019 was CNY 319,824,140.45, representing a 9.53% increase compared to CNY 291,992,509.98 in the same period last year[8]. - Net profit attributable to shareholders for Q1 2019 was CNY 21,511,328.29, up 21.97% from CNY 17,636,551.72 year-on-year[8]. - Basic and diluted earnings per share increased to CNY 0.10, an 11.11% rise from CNY 0.09 in the previous year[8]. - The company achieved total operating revenue of 319.82 million yuan, an increase of 9.53% compared to the same period last year[21]. - The net profit attributable to shareholders was 21.52 million yuan, reflecting a growth of 21.97% year-on-year[21]. - The company reported a gross profit margin of approximately 26.5% for Q1 2019, compared to 25.7% in Q1 2018, showing improved profitability[47]. - Total comprehensive income for the period was CNY 21,511,328.29, compared to CNY 17,636,551.72 in the previous period[53]. Cash Flow and Assets - Net cash flow from operating activities improved significantly, with a net outflow of CNY -1,729,406.59, an 80.51% improvement from CNY -8,871,677.36 in the same period last year[8]. - Cash and cash equivalents increased by 38.78%, reaching 170.13 million yuan, primarily due to an increase in short-term borrowings[20]. - The company's cash flow from operating activities increased by 207.98% to 4.85 million yuan, primarily due to government grants received[20]. - Total assets at the end of the reporting period were CNY 1,138,642,871.86, a 7.78% increase from CNY 1,056,450,473.11 at the end of the previous year[8]. - The company's current assets reached CNY 794,542,543.28, up from CNY 720,298,961.57 at the end of 2018, indicating an increase of about 10.3%[39]. - Total current assets amounted to CNY 720,298,961.57, unchanged from the previous period[65]. Liabilities and Equity - The total liabilities of the company were CNY 513,287,722.10, up from CNY 454,993,648.16, which is an increase of approximately 12.7%[40]. - The company's short-term borrowings increased to CNY 302,484,670.00 from CNY 267,350,000.00, reflecting a rise of about 13.1%[40]. - The total equity remained stable at CNY 625,355,149.76, with no change reported from the previous period[40]. - The total equity attributable to shareholders was CNY 601,456,824.95, reflecting a slight increase from the previous period[66]. Operational Highlights - The company has significant orders for ACR processing agents and MBS impact modifiers, totaling 2,420 tons and 2,550 tons respectively[22]. - The company announced investments totaling approximately 470 million RMB for two projects: a 40,000-ton MBS impact modifier project and a 50,000-ton new high-end weather-resistant polymer material project[30]. - The company has implemented measures to mitigate risks from raw material price fluctuations, including expanding procurement channels and adjusting purchasing strategies based on market conditions[25]. - The company is actively promoting domestic market applications for its products, given the current lack of domestic market presence in the flooring industry[28]. Risks and Challenges - The company faces risks from intensified industry competition, with competitors adopting low-price sales strategies that could reduce product gross margins[29]. - The company is monitoring macroeconomic risks, particularly from global trade protectionism and the potential impact of U.S.-China trade relations on customer demand[28]. - The company has noted that while raw material prices were stable during the reporting period, future volatility remains a concern[25]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 9,798[12]. - The largest shareholder, Zhou Shibin, holds 22.27% of the shares, with a total of 47,047,452 shares, of which 21,616,671 shares are pledged[12]. Safety and Compliance - The company emphasizes strict safety management and training to prevent accidents related to the use of flammable and explosive chemicals in production[27]. - The company has a detailed safety production operation procedure to prevent safety hazards and comply with environmental regulations[27].

Financial Performance - The company's operating revenue for 2018 was CNY 1,445,439,011.75, representing a 31.91% increase compared to CNY 1,095,798,377.08 in 2017[23]. - The net profit attributable to shareholders for 2018 was CNY 90,188,278.61, a significant increase of 194.55% from CNY 30,619,290.83 in 2017[23]. - The basic earnings per share for 2018 was CNY 0.44, up 193.33% from CNY 0.15 in 2017[23]. - The total assets at the end of 2018 were CNY 1,056,450,473.11, reflecting a growth of 20.31% from CNY 878,111,243.15 in 2017[24]. - The net assets attributable to shareholders increased to CNY 601,456,824.95, a rise of 17.75% compared to CNY 510,791,955.94 in 2017[24]. - The net cash flow from operating activities for 2018 was CNY 61,997,618.13, showing a slight decrease of 1.90% from CNY 63,201,136.79 in 2017[23]. - The company reported a diluted earnings per share of CNY 0.43 for 2018, which is an increase of 186.67% from CNY 0.15 in 2017[23]. - The weighted average return on equity for 2018 was 16.30%, up from 6.18% in 2017, indicating improved profitability[23]. - The company experienced a net profit excluding non-recurring gains and losses of CNY 91,483,492.30, a 223.88% increase from CNY 28,245,947.93 in 2017[23]. Investment and Expansion - The company announced a total investment of approximately 470 million yuan for two new projects: a 40,000-ton MBS impact modifier project and a 50,000-ton new high-end weather-resistant transparent polymer material project[12]. - The company plans to purchase 183 acres of land use rights in Yishui Chemical Park to support future expansion[47]. - The company is constructing a 40,000-ton MBS impact modifier project, expected to complete 20,000 tons of capacity by the end of 2019[57]. - The company plans to continue expanding its market presence and investing in new product development to sustain growth[18]. - The company plans to actively seek merger and acquisition projects that align with its main business to enhance profitability and competitiveness[98]. Product Development and Market Strategy - The company is actively promoting its products in the domestic market to mitigate risks associated with U.S. trade tensions affecting its customers[10]. - The company has optimized the structure of its ACR products to lower production costs and maintain a competitive edge in the flooring sector[11]. - The company continues to enhance R&D efforts, improving product quality and expanding sales channels to avoid homogenization[52]. - The company launched several new products, including modified ethylene-vinyl acetate processing agents and high-impact modifiers, enhancing its market competitiveness[75]. - The company expects stable growth in the demand for its products in the WPC and SPC flooring sectors, with a significant increase in international market demand and domestic promotion[100]. Safety and Environmental Management - The company has implemented measures to mitigate raw material price volatility, particularly for methyl methacrylate (MMA), which has experienced significant price fluctuations[6]. - The company is committed to increasing investments in safety and environmental protection to meet new regulatory requirements[9]. - The company emphasizes the importance of safety and environmental protection as a core aspect of its sustainable development strategy[99]. - The company has not reported any major legal violations in environmental protection during the reporting period[146]. - The company is not classified as a key pollutant discharge unit by environmental protection authorities and has complied with relevant environmental laws and regulations[146]. Shareholder and Management Changes - The company successfully completed the election of a new board of directors and supervisory board, laying a solid foundation for stable development[58]. - The company’s board and supervisory board were re-elected on November 30, 2018, with new senior management appointed[148][149]. - The shareholding of major shareholder Sang Peizhou decreased from 9.24% to 7.09% during the reporting period[150]. - Jiangsu Ruiyuan Investment Co., Ltd. increased its shareholding to 14.474% by January 2019, up from 10% in March 2018[151]. - The actual controller, Zhou Shibin, also serves as the chairman of the company and holds a natural person status[171]. Employee and Compensation Information - The total remuneration paid to directors, supervisors, and senior management in 2018 amounted to 4.1622 million yuan[194]. - The company employed a total of 554 staff, with 311 in production, 90 in sales, 101 in technical roles, 17 in finance, and 35 in administration[198][200]. - The remuneration for the chairman was 61.29 thousand yuan, while the general manager received 55.43 thousand yuan[196]. - The total number of shares held by the board members and senior management at the end of the reporting period amounted to 53,628,628 shares, with an increase of 2,040,000 shares during the period[179]. Financial Management and Compliance - The company has maintained a continuous relationship with its accounting firm for 10 years, with an audit fee of CNY 500,000[117]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[114]. - The company did not face any major litigation or arbitration matters during the year[119]. - The company has not undergone any bankruptcy reorganization during the reporting period[118]. - The company has fulfilled all commitments made by actual controllers, shareholders, and related parties during the reporting period[112].

山东瑞丰高分子材料股份有限公司 2018 年第三季度报告全文 山东瑞丰高分子材料股份有限公司 2018 年第三季度报告全文 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。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人周仕斌、主管会计工作负责人许曰玲及会计机构负责人(会计主 管人员)许曰玲声明：保证季度报告中财务报表的真实、准确、完整。 山东瑞丰高分子材料股份有限公司 2018 年第三季度报告 2018 年 10 月 1 2 山东瑞丰高分子材料股份有限公司 2018 年第三季度报告全文 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 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增 | | --- | --- | --- | --- | --- | | | | | | 减 | | 总资产（元） | 1,036,867,787.66 | | 878,111,243.15 | 18.08% | | 归属于上 ...