Financial Performance - The company's operating revenue for 2016 was CNY 2,330,939,606.79, representing a 141.65% increase compared to CNY 964,579,214.91 in 2015[17]. - Net profit attributable to shareholders for 2016 reached CNY 201,402,236.61, a significant increase of 553.59% from CNY 30,814,621.60 in 2015[17]. - The net profit after deducting non-recurring gains and losses was CNY 177,989,387.53, up 529.80% from CNY 28,261,408.22 in 2015[17]. - The total assets at the end of 2016 amounted to CNY 5,055,627,816.64, a 104.08% increase from CNY 2,477,336,907.77 at the end of 2015[17]. - The basic earnings per share for 2016 was CNY 0.36, reflecting a 350.00% increase compared to CNY 0.08 in 2015[17]. - The company reported a significant increase in advertising agency costs, which rose by 206.39% to ¥1,258,415,243.03, making up 69.23% of total operating costs[43]. - The company’s net profit reached CNY 199,636,230.31, marking a year-on-year increase of 627.73%[35]. - The total revenue from domestic operations was ¥2,290,278,436.59, reflecting a year-on-year growth of 21.82%[41]. - The company reported a significant increase in government subsidies, contributing to other income of 18,301,356.46 yuan, which is 6.41% of total income[54]. - The total distributable profit for 2016 was RMB 341,359,300.13, with the cash dividend accounting for 100% of the profit distribution[84]. Acquisitions and Goodwill - The goodwill on the consolidated balance sheet as of December 31, 2016, was CNY 2,687.25 million, mainly resulting from the acquisition of 100% equity in Shanghai Xinhui for CNY 1,322.00 million and 100% equity in Shanghai Lindong and Shanghai Jichuang for CNY 1,731.50 million[5]. - The company completed the acquisition and integration of Shanghai Jichuang Advertising Co., Ltd. and Shanghai Lindong Marketing Planning Co., Ltd., enhancing its digital marketing capabilities[26]. - The company acknowledges the risk of goodwill impairment if the operational performance of acquired subsidiaries deteriorates in the future[5]. - The company has implemented a comprehensive business, asset, financial, and personnel integration plan to ensure effective management post-acquisition[5]. - The company has expanded its consolidation scope by including several subsidiaries, enhancing its operational capacity and market reach[44]. Accounts Receivable and Risks - As of December 31, 2016, the total accounts receivable amounted to CNY 1,505.27 million, accounting for 29.77% of total assets, an increase of 195.15% compared to the beginning of the period, primarily due to the acquisition of Shanghai Jichuang and Shanghai Lindong during the reporting period[4]. - The company faces risks related to accounts receivable collection, with potential increases in uncollectible accounts due to industry characteristics and service settlement methods[4]. - The company has established a dedicated accounts receivable management system to mitigate the risk of bad debts and improve collection efforts[4]. - The company’s receivables increased by 195.15% due to the inclusion of Shanghai Jichuang and Shanghai Lindong in the consolidation scope[30]. - The net cash flow from operating activities decreased by 198.50% year-on-year, primarily due to changes in the consolidation scope, including Shanghai Jichuang and Shanghai Lindong, and accounts receivable from Shanghai Jichuang not yet due for collection[51]. Digital Marketing and Competition - The digital marketing sector is experiencing increasing competition, with traditional marketing companies undergoing transformation and international firms entering the market through acquisitions[26]. - The company is focused on expanding its digital marketing capabilities and improving service quality to maintain competitive advantages in a rapidly evolving market[36]. - The company aims to integrate its three subsidiaries to provide comprehensive digital marketing services, enhancing its competitive position in the market[28]. - The company plans to enhance its digital marketing services by leveraging big data and artificial intelligence technologies[75]. Research and Development - The company plans to enhance product R&D capabilities by attracting top industry talent and increasing investment in new product development[28]. - Research and development expenses amounted to ¥20,758,661.19, which is 0.89% of total revenue, a decrease from 1.52% in the previous year[47]. - The number of R&D personnel increased to 66, representing 0.89% of the total workforce[47]. - The company aims to increase R&D investment to improve product quality and performance, developing new products that meet customer needs[77]. - The company has established a technology center in Shanghai to enhance its R&D capabilities and plans to increase investment in technology development[78]. Shareholder and Dividend Policies - The company plans to distribute a cash dividend of CNY 0.10 per share (including tax) to all shareholders based on 590,392,690 shares, with no bonus shares or capital reserve transfers[5]. - The cash dividend represents 29.31% of the net profit attributable to ordinary shareholders, which is RMB 201,402,236.61[87]. - The company has maintained a consistent cash dividend distribution policy over the past three years, with increasing amounts each year[87]. - The company plans to distribute a cash dividend of RMB 1.00 per 10 shares, totaling RMB 59,039,269.00 for the year 2016[84]. Corporate Governance and Compliance - The company maintains a robust corporate governance structure and emphasizes timely and accurate information disclosure[136]. - The company has a strong focus on corporate governance, with independent directors actively involved in oversight and strategic decision-making[165][173]. - The management structure is designed to facilitate effective decision-making and accountability, with clear roles for directors and senior executives[174]. - The company has committed to strict adherence to share transfer regulations for its directors and senior management[97]. - The company emphasizes compliance with laws and regulations in its related party transactions, ensuring fair market prices are followed[92]. Future Outlook and Strategic Plans - The company provided a positive outlook for 2017, projecting a revenue growth of 20%[95]. - New product launches are expected to contribute an additional 10% to overall revenue in the upcoming fiscal year[93]. - The company is considering strategic acquisitions to enhance its service offerings, with a budget of up to 50 million yuan for potential deals[93]. - The company aims to reduce operational costs by 10% through efficiency improvements in 2017[95]. - The company is committed to becoming a leading green chemical production enterprise and a digital marketing leader in China[76]. Employee and Management Structure - The company employed a total of 748 staff, with 485 in sales, 93 in production, and 66 in technical roles[177][178]. - The board of directors consists of 9 members, including 3 independent directors, enhancing decision-making quality[183]. - The company has established a comprehensive human resource management system, including recruitment, training, and performance evaluation[185]. - The management team has a diverse background in finance, engineering, and marketing, which supports the company's strategic initiatives and operational efficiency[168][171]. Legal Matters - The company is involved in a lawsuit with Dalian Arbin Group, claiming construction payments of 7,653,233.00 CNY, with the case still pending as of December 31, 2016[118]. - The company has a separate lawsuit against Nanjing Yongteng Construction Co., Ltd. and Shenyang Runheng Agricultural Products Market Co., Ltd., seeking payment of 6,816,964.24 CNY, which remains unresolved as of December 31, 2016[119].

Financial Performance - The company's operating revenue for 2016 was CNY 2,330,939,606.79, representing a 141.65% increase compared to 2015[17]. - Net profit attributable to shareholders for 2016 reached CNY 201,402,236.61, a significant increase of 553.59% from the previous year[17]. - The net profit after deducting non-recurring gains and losses was CNY 177,989,387.53, up 529.80% year-over-year[17]. - The total assets at the end of 2016 amounted to CNY 5,055,806,712.57, reflecting a growth of 104.08% compared to the end of 2015[17]. - The company reported a basic earnings per share of CNY 0.36, which is a 350.00% increase from CNY 0.08 in 2015[17]. - The company’s net profit reached CNY 199,636,230.31, marking a year-on-year increase of 627.73%[35]. - The company’s cash and cash equivalents increased by 222.85% compared to the beginning of the period, primarily due to changes in the consolidation scope[30]. - The company’s advertising agency revenue surged by 216.15% to CNY 1,608,125,977.99, representing 68.99% of total revenue[38]. - The internet advertising sector contributed CNY 2,057,838,726.25, accounting for 88.28% of total revenue, with a staggering growth of 297.42% compared to the previous year[38]. Acquisitions and Goodwill - The goodwill on the consolidated balance sheet as of December 31, 2016, was CNY 2,687.25 million, mainly resulting from the acquisition of 100% of Shanghai Xinhui for CNY 1,322.00 million and 100% of Shanghai Lindong and Shanghai Jichuang for CNY 1,731.50 million[5]. - The company completed the acquisition and integration of Shanghai Jichuang Advertising Co., Ltd. and Shanghai Lindong Marketing Planning Co., Ltd. to strengthen its digital marketing direction[26]. - The company’s goodwill grew by 133.13% due to the acquisition of Shanghai Jichuang and Shanghai Lindong[30]. - The company completed significant acquisitions, including Shanghai Jichuang and Shanghai Lindong, which were fully consolidated in the financial statements[59]. Cash Flow and Investments - The net cash flow from operating activities for 2016 was negative at CNY -49,028,923.75, a decline of 198.50% compared to the previous year[17]. - The net cash flow from investment activities significantly declined, mainly due to a 223.16% increase in cash paid for acquiring subsidiaries and other business units, including the acquisition of Shanghai Jichuang and Shanghai Lindong[51]. - The net cash flow from financing activities increased by 317.41% year-on-year, primarily due to the issuance of shares and the corresponding fundraising for purchasing equity in Shanghai Jichuang and Shanghai Lindong[51]. - The total cash and cash equivalents increased by 361.48% year-on-year, amounting to 192,643,283.04 yuan[51]. Research and Development - The company plans to enhance product R&D capabilities by attracting top industry talent and increasing investment in new product development[28]. - Research and development investment for 2016 was ¥20,758,661.19, accounting for 0.89% of total revenue[47]. - The number of R&D personnel increased to 66, with a slight decrease in the proportion of R&D personnel to total employees to 0.89%[47]. - The company aims to strengthen its technical cooperation with key clients by closely following their R&D plans and enhancing joint development efforts[78]. Shareholder Returns - The company plans to distribute a cash dividend of CNY 0.10 per share (including tax) to all shareholders based on 590,392,690 shares, with no bonus shares or capital reserve transfers[5]. - The cash dividend represents 29.31% of the net profit attributable to ordinary shareholders, which is RMB 201,402,236.61[87]. - The company has a cash dividend policy that ensures at least 30% of the distributable profit is allocated for cash dividends[82]. - The company plans to distribute a cash dividend of RMB 1.00 per 10 shares, totaling RMB 59,039,269.00 for the 2016 fiscal year[84]. Market Strategy and Growth - The company is focused on expanding its market presence and enhancing its competitive edge in the rapidly growing digital marketing industry[36]. - The company aims to expand its production scale and market share of its main products, focusing on improving product quality and performance[76]. - The company plans to invest CNY 5,500 million in a new project for producing 3.3 million square meters per year of rigid polyurethane high-efficiency fireproof insulation boards, which was approved by the shareholders' meeting[66]. - The company is planning to expand its market presence in Southeast Asia, targeting a 30% market share in the region by 2025[94]. Corporate Governance - The company maintains independence from its controlling shareholder in business, personnel, assets, and financial matters[189]. - The company has established a long-term commitment to reduce and regulate related party transactions with its controlled enterprises[92]. - The company has committed to transparency in its financial dealings and will fulfill its information disclosure obligations[92]. - The company has a well-defined governance structure, ensuring compliance with relevant laws and regulations[184]. Legal Matters - The company is involved in a lawsuit with Dalian Arbin Group, claiming construction payments of 7,653,233.00 CNY, with the case still pending as of December 31, 2016[118]. - The company has a separate lawsuit against Nanjing Yongteng Construction Co., Ltd. and Shenyang Runheng Agricultural Products Market Co., Ltd., seeking payment of 6,816,964.24 CNY, which remains unresolved as of December 31, 2016[119]. - The ongoing litigation and disputes may impact the company's financial stability and operational focus[120]. Human Resources - The company employed a total of 748 staff, with 485 in sales and 93 in production[178]. - The educational background of employees shows that 414 hold a bachelor's degree or higher, while 249 have an associate degree[179]. - The company has established a comprehensive human resource management system, including recruitment, training, and performance evaluation[186]. Share Structure and Ownership - The total number of shares increased from 125,134,417 to 159,565,592 shares after issuing 34,431,175 shares for asset acquisition[141]. - The largest shareholder, Li Hongguo, holds 23.66% of the shares, totaling 139,670,101 shares, with 15,833,295 shares pledged[151]. - The company has a total of 83,898,617 shares held under lock-up agreements[148]. - The shareholder structure indicates a concentration of ownership, with the top shareholder holding nearly a quarter of the total shares[151].

Financial Performance - Total revenue for Q1 2017 reached ¥404,181,324.91, representing a 50.40% increase compared to ¥268,739,992.21 in the same period last year[7] - Net profit attributable to shareholders was ¥23,278,251.28, up 74.37% from ¥13,350,124.21 year-on-year[7] - Net cash flow from operating activities surged by 529.70% to ¥222,894,400.50, compared to ¥35,397,132.52 in the previous year[7] - Basic earnings per share decreased by 63.64% to ¥0.04 from ¥0.11 in the previous year[7] - The weighted average return on net assets was 0.58%, down from 0.79% in the same period last year[7] - The company achieved a sales revenue of CNY 404.18 million in Q1 2017, representing a 50.40% increase compared to the same period last year, primarily due to the performance of subsidiaries Shanghai Jichuang and Shanghai Lindong[24] - The net profit for Q1 2017 was CNY 23.28 million, an increase of 88.45% year-on-year, driven by the improved performance of the acquired subsidiaries[23] - Cash flow from operating activities saw a significant increase, reaching CNY 222.89 million, up 529.70% from CNY 35.40 million in the previous year[23] - The total comprehensive income for Q1 2017 was 23,278,250.96 CNY, compared to 12,352,592.36 CNY in Q1 2016, reflecting an increase of approximately 88.6%[58] Assets and Liabilities - Total assets decreased by 4.14% to ¥4,846,435,194.32 from ¥5,055,806,712.57 at the end of the previous year[7] - The company's total assets decreased to CNY 4,846,435,194.32 from CNY 5,055,806,712.57, a decline of 4.1%[51] - Total liabilities decreased to CNY 797,637,957.61 from CNY 1,030,287,726.82, representing a reduction of 22.5%[50] - The company's equity attributable to shareholders increased to CNY 4,048,635,357.07 from CNY 4,025,357,105.79, a growth of 0.6%[51] - The company has ongoing investments in long-term equity, totaling CNY 3,318,956,557.48, slightly up from CNY 3,298,956,557.48[52] Shareholder Structure - The company reported a significant shareholder structure, with Li Hongguo holding 23.66% of shares, followed by Qi Haiying at 5.60% and Ye Qing at 5.45%[14] - The top ten unrestricted shareholders collectively hold a total of 25,940,216 shares, with Li Hongguo being the largest unrestricted shareholder[15] - The company has a diverse range of shareholders, including both individual and institutional investors, with significant stakes held by various funds[14] - The overall shareholder structure reflects a stable ownership base, which is crucial for long-term strategic planning and market confidence[14] Accounts Receivable and Cash Flow Management - The company reported a total accounts receivable of ¥107,089.11 million as of March 31, 2017, with a 28.86% decrease from the beginning of the period[10] - The total accounts receivable as of March 31, 2017, amounted to CNY 1,070.89 million, with subsidiaries Shanghai Xinhhe and Shanghai Jichuang accounting for 79.44% of the total[30] - The company reported a significant decrease of 28.86% in accounts receivable compared to the beginning of the period[30] - The company has implemented measures to improve the collection of accounts receivable and reduce bad debt risks[31] - The accounts receivable decreased to RMB 1,070,891,110.85 from RMB 1,505,270,982.34, indicating improved cash flow management[48] Investment and Project Management - The company has approved a plan to publicly issue corporate bonds to qualified investors as of March 1, 2017[33] - The total committed investment projects amount to 169,623 million, with a utilization rate of 100.00% for several projects[38] - The project for 3 million tons/year of combined polyether and supporting polyether polyols has been in operation since Q2 2012, with a construction period of 12 months[38] - The R&D center and pilot workshop project has been completed, with ongoing construction for external wall insulation[38] - The company has successfully produced qualified products from the supporting polyether polyols project, which is currently in trial production[38] - The company has encountered delays in project construction due to lagging supporting facilities and adjustments in technical plans[38] Risks and Strategic Planning - The company faces risks related to high customer concentration, which could impact revenue stability if major clients are lost[11] - The company plans to enhance its integration efforts across subsidiaries to mitigate operational risks associated with rapid business expansion[30] - The company is actively seeking to diversify its customer base to reduce reliance on major clients and mitigate associated risks[31] - The company aims to optimize its assets and increase market share to prevent potential goodwill impairment[32] Financial Management - The company's financial expenses decreased significantly, showing a -116.88% change, reflecting reduced interest expenses due to improved cash flow management[23] - The financial expenses showed a significant improvement, with a net income of -348,246.93 CNY compared to 2,062,899.69 CNY in the previous year, indicating a reduction in financial costs[57] - The company reported a cash dividend distribution plan for 2016, proposing a cash dividend of RMB 1 per 10 shares, totaling RMB 59,039,269, subject to shareholder approval[41] - The company has utilized RMB 8,127.67 million of the raised funds for the construction of a high-efficiency fireproof insulation board project, with a revised annual production capacity of 420 million square meters[39] Cash Flow Analysis - The total cash inflow from operating activities was 836,403,792.41 CNY, compared to 341,130,068.45 CNY in the previous year, showing an increase of approximately 145.0%[64] - The total cash and cash equivalents at the end of the period stood at ¥424,429,321.20, up from ¥127,848,664.96 at the end of the previous period, marking an increase of approximately 231%[66] - The company reported a total cash outflow from operating activities of ¥613,509,391.91, which is an increase from ¥305,732,935.93 in the previous period[65] - The cash inflow from sales of goods and services was ¥2,774,331.61, while the total cash inflow from operating activities was ¥12,891,464.34[67] - The company incurred cash outflows of ¥56,090,921.66 for operating activities, leading to a negative net cash flow of -¥43,199,457.32 for the period[67]

Financial Performance - Total operating revenue for the period reached CNY 652,005,587.73, a 108.92% increase year-on-year[7] - Net profit attributable to shareholders was CNY 76,506,264.89, representing a 149.92% increase year-on-year[7] - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 75,322,510.94, up 160.20% year-on-year[7] - The company's operating revenue for the year reached 152,290.53 million, a 143.38% increase compared to the previous year's 62,572.35 million[28] - Net profit for the period was 16,099.66 million, reflecting a significant growth of 397.30% from 3,237.44 million in the same period last year[28] - The total operating revenue for the third quarter was CNY 652,005,587.73, a significant increase from CNY 312,089,282.33 in the same period last year, representing a growth of approximately 108.5%[84] - The total operating profit for Q3 2016 was approximately CNY 202.97 million, a significant increase from CNY 36.97 million in the same period last year, reflecting a growth of over 450%[93] - Net profit for Q3 2016 reached CNY 161.00 million, compared to CNY 32.37 million in Q3 2015, indicating a year-over-year increase of approximately 396%[93] Assets and Liabilities - Total assets increased by 99.26% to CNY 4,936,349,455.96 compared to the end of the previous year[7] - Net assets attributable to shareholders increased by 138.17% to CNY 3,984,951,472.11 compared to the end of the previous year[7] - The total liabilities were CNY 951,397,983.85, compared to CNY 778,392,094.73 in the previous year, which is an increase of about 22.2%[78] - The company's goodwill increased to CNY 2,687,776,703.67 from CNY 1,152,682,775.36, indicating a growth of approximately 133.3%[79] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 12,064,173.15, a decline of 109.11% compared to the same period last year[7] - Operating cash inflow totaled 133,789.81 million yuan, an increase of 88.89% year-on-year[32] - Operating cash outflow reached 134,996.23 million yuan, a rise of 134.42% year-on-year[32] - Net cash flow from operating activities decreased by 109.11% year-on-year, primarily due to an increase in accounts receivable from major clients[32] - The cash inflow from operating activities for Q3 2016 was CNY 1.34 billion, compared to CNY 708.28 million in the previous year, showing an increase of approximately 89%[100] Customer Concentration - The top five customers accounted for 52.41% of total sales revenue, indicating a high customer concentration risk[11] - The top five customers account for 52.41% of the consolidated sales revenue, indicating a high customer concentration risk[40] Acquisitions and Investments - The company has acquired three internet enterprises, enhancing its operational scale and performance[11] - The company reported a goodwill of CNY 115,268.28 million from the acquisition of Shanghai Xinhui, with potential impairment risks if the acquired assets' performance deteriorates[16] - The company has made substantial investments in new technologies and market expansion through recent acquisitions[27] - The company acquired a 30% stake in Lianchuang Energy, with the shares being transferable after 36 months from the listing date[49] - The company plans to invest CNY 55 million in a new project for producing 3.3 million square meters per year of high-efficiency fireproof insulation boards, which was later adjusted to 1 million square meters per year with an additional investment of CNY 28.41 million from the remaining raised funds[65] Risks and Challenges - The company faces risks from potential changes in national industrial policies and increased market competition in the digital marketing sector[10][12] - The company faces risks from intensified market competition in the digital marketing sector, necessitating continuous improvement in technology and customer service[42] - The company has identified risks in the real estate sector, impacting cash flow and increasing accounts receivable risks[64] - The company has opted to forgo certain engineering projects due to financial risk considerations and market conditions[64] Shareholder Information - The total number of common shareholders at the end of the reporting period is 10,868[17] - The largest shareholder, Li Hongguo, holds 27.97% of shares, totaling 165,115,741 shares, with 123,836,806 shares under lock-up[17] - The second-largest shareholder, Qi Haiying, holds 7.01% of shares, totaling 41,374,462 shares, with 31,030,846 shares under lock-up[17] - The third-largest shareholder, Zhou Zhigang, holds 6.84% of shares, totaling 40,396,559 shares, with 24,237,935 shares under lock-up[17] - The total number of shares held by the top 10 shareholders accounts for 56.25% of the total shares[17] Regulatory Compliance - The management team emphasized the importance of adhering to regulatory requirements in all business dealings[58] - The company is committed to maintaining fair trading practices and ensuring no conflicts of interest arise from related party transactions[55] - The company has not reported any violations of commitments made by its directors and senior management[61] Future Outlook - The company aims to achieve an annual revenue of 2.5 billion yuan post-acquisition integration of Shanghai Xinhui, Shanghai Jichuang, and Shanghai Lindong[35] - The company has set a performance guidance of 20% revenue growth for the next quarter[57] - New product launches are expected to contribute an additional 100 million RMB in revenue over the next two quarters[58]

Financial Performance - Total operating revenue for the first half of 2016 reached ¥870,899,672.03, an increase of 177.68% compared to ¥313,634,220.20 in the same period last year[17]. - Net profit attributable to ordinary shareholders was ¥84,490,338.04, a significant increase of 2,584.41% from ¥3,147,450.19 year-on-year[17]. - The net profit after deducting non-recurring gains and losses was ¥76,405,368.56, up 5,101.53% from ¥1,468,901.17 in the previous year[17]. - The net cash flow from operating activities was ¥28,619,928.58, representing a 25.29% increase from ¥22,842,971.29 in the same period last year[17]. - Basic earnings per share rose to ¥0.1489, an increase of 278.88% compared to ¥0.0393 in the previous year[17]. - Total assets at the end of the reporting period were ¥4,835,940,078.50, a 95.21% increase from ¥2,477,336,907.77 at the end of the previous year[17]. - Total liabilities rose by 19.16% to ¥927,494,871.28, driven by increased current liabilities[32]. - The company's cash and cash equivalents increased by 311.51%, reaching 351.70 million yuan[30]. Acquisitions and Growth - The company successfully acquired three internet companies, Shanghai Xinhhe, Shanghai Jichuang, and Shanghai Lindong, contributing to the revenue growth[29]. - The company reported a significant increase in goodwill, which rose by 133.17% to 2,687.73 million yuan following the acquisitions[30]. - The company completed the acquisition of 100% equity in Shanghai Jichuang and Shanghai Lindong, with a total transaction price of 171,150,000 CNY[83]. - The net profit contribution from the acquired assets for the first half of 2016 was 5,330.89 million CNY, accounting for 24.27% of the total net profit[83]. - The total expected revenue for the three acquired subsidiaries in 2016 is 2.50228 billion RMB, with Shanghai Xinhai projected to generate 1.3026 billion RMB, Shanghai Jichuang 875.91 million RMB, and Shanghai Lindong 323.77 million RMB[73]. Market and Industry Dynamics - The advertising market is expected to reach ¥280 billion in 2016, with a year-on-year growth of over 30%, indicating a robust growth environment for the company[47]. - The company is actively addressing risks related to regulatory changes in the digital marketing industry by enhancing compliance and monitoring policies[50]. - The company faces risks related to market competition, particularly in the rapidly evolving digital marketing sector[25]. Financial Management and Strategy - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company aims to enhance service quality and maintain competitive advantages in a highly competitive digital marketing landscape[54]. - The company plans to strengthen new customer development while maintaining existing customer relationships to mitigate customer loss risks[55]. - The company aims to reduce its heavy asset burden and focus on enhancing profitability by divesting underperforming assets[85]. - The company has committed to protecting the interests of minority shareholders through strategic asset management[85]. Operational Efficiency and Future Outlook - The company plans to continue its transformation from the chemical industry to internet-related services, leveraging synergies from the newly consolidated subsidiaries[38]. - The company has achieved 39.64% of its annual sales target for internet and related services, with specific contributions from its subsidiaries: Shanghai Xinhui (¥462.27 million), Shanghai Jichuang (¥387.02 million), and Shanghai Lindong (¥142.67 million)[48]. - The company provided a positive outlook for the second half of 2016, projecting a revenue growth of 25% driven by new product launches and market expansion efforts[108]. - Future guidance indicates a target of 2 billion RMB in revenue for the full year 2016, reflecting a robust growth trajectory[107]. Shareholder and Equity Information - The company completed the profit distribution plan for 2015, distributing a cash dividend of 2.00 RMB per 10 shares and transferring 27 shares for every 10 shares from capital reserves[76]. - The company has made commitments regarding share transfer restrictions for shares obtained through transactions, with a lock-up period of 36 months[104]. - The total number of shareholders at the end of the reporting period is 10,473[141]. - The largest shareholder, Li Hongguo, has seen a decrease of 120,489 shares during the reporting period[141]. Risks and Challenges - Integration risks remain a concern due to the differences between the chemical and internet marketing sectors, but the company has implemented measures to stabilize management and improve operational efficiency[51]. - The company is exposed to potential goodwill impairment risks due to the acquisitions, which require annual impairment testing[26]. - The company has faced challenges in project construction due to delays in supporting facilities and market conditions affecting cash flow[64].

Acquisition and Goodwill - The company acquired 100% of Shanghai Xinhhe for CNY 1,322 million, resulting in significant goodwill that requires annual impairment testing[4] - There is a risk of goodwill impairment if the operating conditions of the acquired assets deteriorate, which could adversely affect the company's financial performance[4] - Goodwill increased by 29,091.09% primarily due to the acquisition of Shanghai Xinhhe, indicating substantial growth in intangible assets[30] - The company completed the acquisition of Shanghai Xinhhe, which is expected to enhance its core competitiveness in the internet and related services sector[36] - The company completed the acquisition of 100% equity of Shanghai Xinhai, issuing 45,134,417 shares, increasing the total share capital from 80,000,000 to 125,134,417 shares[137] Financial Performance - The company's operating revenue for 2015 was ¥964,579,214.91, representing a year-over-year increase of 15.85% compared to ¥832,616,141.67 in 2014[19] - Net profit attributable to shareholders reached ¥30,814,621.60, a significant increase of 382.97% from ¥6,380,284.13 in the previous year[19] - The net profit after deducting non-recurring gains and losses was ¥28,261,408.22, up 509.34% from ¥4,638,018.47 in 2014[19] - The net cash flow from operating activities improved to ¥49,775,971.07, a 125.94% increase from a negative cash flow of ¥185,708,086.95 in 2014[19] - Total assets at the end of 2015 were ¥2,477,336,907.77, reflecting a 171.25% increase from ¥913,292,033.21 at the end of 2014[19] - The company's net assets attributable to shareholders grew to ¥1,673,177,469.64, a 257.93% increase from ¥467,462,852.39 in 2014[19] - The company reported a basic earnings per share of ¥0.30, which is a 275.00% increase compared to ¥0.08 in 2014[19] Revenue Breakdown - The internet advertising sector contributed 517.80 million yuan, accounting for 53.68% of total revenue, marking a 100% increase as it was a new segment[42] - The chemical industry revenue decreased by 45.47% to 435.71 million yuan, down from 799.02 million yuan in 2014[42] - The revenue from the polyurethane insulation board decreased by 7.03% to CNY 21.34 million, while the revenue from the polyether water reducer increased by 64.92% to CNY 142.22 million[46] Investment and R&D - The company has increased its R&D investment in polyurethane technology, focusing on innovative products such as high flame-retardant formulations and new foaming agents[37] - The company’s R&D investment for 2015 was CNY 14.66 million, representing 1.52% of total revenue, with a year-on-year growth of 12.93%[56] - Investment in new product development reached 200 million RMB, focusing on innovative energy-saving materials, which is expected to enhance market competitiveness[98] Shareholder Returns - The profit distribution plan approved by the board is to distribute a cash dividend of CNY 2 per 10 shares (tax included) and to increase capital by 27 shares for every 10 shares held[5] - The total cash dividend for the year 2015 is RMB 31,913,118.40, which is 100% of the total profit distribution[90] - In 2015, the cash dividend amount represents 103.56% of the net profit attributable to ordinary shareholders, highlighting a high payout ratio[92] - The company has consistently increased its cash dividends over the past three years, reflecting a commitment to shareholder returns[90] Operational Challenges and Strategies - The company reported a significant increase in accounts receivable, which grew by 333.58% due to the acquisition of Shanghai Xinhhe[30] - The company has developed a comprehensive integration plan for its subsidiaries, although there are risks associated with management experience in the internet marketing sector[4] - The company is focused on leveraging its platform to achieve scale and integration effects in the internet marketing sector[4] - The company is actively exploring new business models and adjusting product structures to adapt to market changes and improve sales performance[39] Corporate Governance and Compliance - The company has established a comprehensive governance structure, including a shareholders' meeting, board of directors, and supervisory board[170] - The independent directors have actively participated in board meetings, with attendance rates of 62.5% to 100% across the board[177] - The audit opinion issued by the accounting firm was a standard unqualified opinion, confirming the fair presentation of the financial statements[187] - The company has maintained a high standard of corporate governance, ensuring compliance with regulatory requirements and independent oversight[174] Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% based on anticipated market expansion and new product launches[97] - The company plans to continue its market expansion efforts and explore potential mergers and acquisitions to strengthen its position[76] - The company is optimistic about future profitability despite current challenges, with plans to implement measures to enhance operational efficiency[76]

Financial Performance - Total revenue for Q1 2016 reached ¥268,739,992.21, an increase of 113.72% compared to ¥125,741,600.20 in the same period last year[7] - Net profit attributable to shareholders was ¥13,350,124.21, a significant increase of 2,610.68% from ¥492,500.75 year-on-year[7] - Basic and diluted earnings per share were both ¥0.1067, reflecting a growth of 1,620.97% compared to ¥0.0062 in the same period last year[7] - Operating revenue increased by 113.72% year-on-year, largely due to the consolidation of Shanghai Xinhai, which contributed sales revenue of 225.98 million yuan[22] - Net profit attributable to the parent company rose by 2,610.68% year-on-year, driven by the consolidation of Shanghai Xinhai[22] - The company achieved a sales revenue of 268.74 million yuan, representing a year-on-year growth of 113.72%[29] - The gross profit margin for Q1 2016 was approximately 6.5%, compared to a negative margin in the previous year, indicating improved profitability[75] Cash Flow and Liquidity - Net cash flow from operating activities was ¥35,397,132.52, up by 40.75% from ¥25,148,749.91 in the previous year[7] - Cash and cash equivalents increased by 54.23% compared to the beginning of the period, primarily due to the acquisition of Shanghai Lindong and Shanghai Jichuang, and timely customer payments[20] - Cash and cash equivalents at the end of the period reached 127,848,664.96 CNY, compared to 69,693,805.24 CNY at the end of Q1 2015[84] - The company reported a net increase in cash and cash equivalents of 3,981,461.12 CNY during the period[87] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,615,971,040.30, an increase of 86.33% from ¥2,477,336,907.77 at the end of the previous year[7] - Total liabilities increased by 273.16% compared to the beginning of the period, amounting to 2.90 billion yuan[20] - The company's total liabilities rose to CNY 2,904,673,634.90 from CNY 778,392,094.73, indicating a significant increase in financial obligations[68] Shareholder Structure - The total number of common stock shareholders at the end of the reporting period is 5,130[14] - The largest shareholder, Li Hongguo, holds 35.66% of shares, totaling 44,625,876 shares, with 33,469,407 shares pledged[14] - The company maintains a stable shareholder structure with no significant changes in the top shareholders' relationships[14] - Li Hongguo's locked shares decreased by 4,279,269 shares, leaving 16,352,331 shares locked due to executive restrictions[17] Risks and Challenges - The company faces integration risks due to the expansion of its business scale and the diversity of its subsidiaries, particularly in different industries[10] - High customer concentration poses a risk, as the loss of major clients could significantly impact revenue[11] - The competitive landscape in the internet finance sector is intensifying, which may increase operational pressures on the company[12] - The company faces a high customer concentration risk, as major subsidiaries rely heavily on a few key clients, which could impact revenue if these clients are lost or reduce their marketing investments[37] Strategic Initiatives - The company has a strategy to gradually release locked shares, with 25% of the total being released annually during the executive's tenure[18] - The company plans to strengthen integration across subsidiaries, including operations, assets, and human resources, and will conduct regular financial checks to improve management capabilities[39] - Talent development is prioritized, with ongoing improvements to recruitment, compensation, performance evaluation, and promotion mechanisms to enhance employee capabilities[40] - Marketing strategies will be adjusted based on market analysis, focusing on technology innovation and customer relationship management to maintain existing clients and attract new ones[40] Investments and Projects - The total amount of raised funds is CNY 586.41 million, with CNY 586.97 million cumulatively invested[52] - The investment in the 30,000 tons/year combined polyether project reached CNY 98.80 million, achieving 100.31% of the planned investment[52] - The company has completed the transfer of 75% equity in Lianchuang Chemical to its major shareholder, Shao Xiuying, based on the audited net asset value as of December 31, 2015[55] - The company has successfully acquired 100% equity in Shanghai Jichuang Advertising Co., Ltd. and Shanghai Lindong Marketing Planning Co., Ltd. through a share issuance and cash payment transaction[57] Compliance and Governance - The management team is committed to adhering to legal and regulatory requirements for the election and appointment of directors and senior management personnel[46] - The company has pledged to minimize and regulate related party transactions with its subsidiaries, ensuring fair market practices[47] - The company reported no violations regarding external guarantees during the reporting period[61] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[62]

Financial Performance - Total assets reached CNY 2,520,650,766.27, an increase of 176.00% compared to the previous year[7] - Net profit attributable to shareholders was CNY 30,612,709.95, a significant increase of 362.86% year-on-year[7] - Operating revenue for the period was CNY 312,089,282.33, reflecting a growth of 51.93% compared to the same period last year[7] - Basic earnings per share increased by 200.00% to CNY 0.240[7] - The weighted average return on equity was 2.86%, up 105.70% year-on-year[7] - Cash and cash equivalents increased by 139.71% compared to the beginning of the year, primarily due to the acquisition of Shanghai Xinhhe[24] - Accounts receivable grew by 307.02% compared to the beginning of the year, mainly due to the acquisition of Shanghai Xinhhe[26] - Inventory decreased by 34.76% compared to the beginning of the year, attributed to improved inventory management and sales of subsidiaries[27] - Net profit increased by 78.90% year-on-year, primarily due to the acquisition of Shanghai Xinhhe[34] - Operating revenue for the third quarter reached 312.09 million yuan, a year-on-year increase of 51.93%, driven by the inclusion of Shanghai Xinhhe in the consolidation scope[40] - The company reported a significant increase in accounts receivable, which rose to RMB 478.76 million from RMB 117.63 million, suggesting higher sales volume[73] - Total operating revenue for Q3 2015 reached CNY 312,089,282.33, a 52% increase from CNY 205,420,847.63 in the same period last year[81] - Net profit for the period was CNY 28,607,217.87, compared to CNY 7,969,662.35 in Q3 2014, indicating a substantial growth of 259%[82] - Total operating revenue for the third quarter reached CNY 625.72 million, an increase of 4.8% compared to CNY 596.81 million in the same period last year[89] - Net profit for the third quarter was CNY 32.37 million, up 79.0% from CNY 18.10 million year-on-year[91] Acquisitions and Investments - The company acquired 100% of Shanghai Xinhui for CNY 132,200.00 million, leading to increased accounts receivable and potential bad debt risks[13][14] - The company completed the acquisition of 100% of Shanghai Xinhhe in July 2015, marking its entry into the internet advertising business, which significantly enhanced its competitive strength[42] - The company completed the acquisition of 100% equity in Shanghai Xinhai for a total transaction price of 132,200 million CNY, with 85,600 million CNY paid in shares and 46,600 million CNY in cash[65] - The company plans to acquire 100% equity in Shanghai Lindong for RMB 716.5 million and Shanghai Jichuang for RMB 1.015 billion, pending shareholder approval[67] - The company has committed to not transferring shares obtained from the acquisition of Lianchuang Energy within 12 months from the listing date[54] - The company has ensured compliance with commitments, with no violations reported during the commitment period[56] Shareholder Information - The company reported a total of 51,120,000 shares held by 19 shareholders before the initial public offering, with 45,134,417 shares subject to lock-up, totaling 96,254,417 shares[21] - The top 10 unrestricted shareholders include Shi Yuqing with 3,900,680 shares (1.53%), Huang Jian with 1,911,078 shares (1.24%), and Zhou Lei with 1,140,500 shares[17] - The company has a total of 27,508,800 shares under lock-up prior to the IPO, with specific release dates for various shareholders[20] - The company has committed to not reducing shareholdings for six months from July 10, 2015, to January 9, 2016, to maintain market stability[21] - The report indicates that the company has not disclosed any related party relationships among the top shareholders[17] - The company has not reported any financing or margin trading activities among its major shareholders[17] Operational Challenges and Risks - The company faces risks related to management, new product development, safety, bad debts, and goodwill impairment due to its diversified operations and recent acquisitions[49][50] - The company reported a significant risk in cash flow and receivables due to the downturn in the real estate industry, which affected sales of insulation boards[63] - The company experienced a significant reduction in asset impairment losses, reporting a gain of CNY 1.25 million compared to a loss of CNY 3.88 million in the previous year[89] Future Outlook and Strategy - The company aims to expand its internet advertising business and integrate with excellent enterprises in the digital marketing industry[14] - The company aims for an annual revenue growth of over 30% in the next three years, despite current challenges in the polyurethane sector[45] - Future guidance indicates a continued emphasis on cost management and operational efficiency to sustain growth momentum[82] - The company is focusing on expanding its market presence and enhancing product development, although specific new products or technologies were not detailed in the report[81] Fundraising and Financial Management - Total fundraising amount reached CNY 586.41 million, with CNY 320.03 million invested in the current quarter[62] - Cumulative investment of fundraising amounts to CNY 569.54 million, with no changes in usage reported[62] - The project for 30,000 tons/year of polyether and supporting polyether polyols has achieved an investment progress of 100.31%[62] - The R&D center and pilot plant project has reached an investment progress of 101.11%[62] - The company has maintained a 100% investment progress for working capital supplementation[62] - The company raised a total of 10,340.77 million CNY in excess funds, with 2,000 million CNY allocated to establish a wholly-owned subsidiary, Shandong Lianchuang Building Energy-saving Technology Co., Ltd.[63]

Financial Performance - Total operating revenue for the first half of 2015 was CNY 313,634,220.20, a decrease of 19.87% compared to CNY 391,386,316.05 in the same period last year[16]. - Net profit attributable to ordinary shareholders was CNY 3,147,450.19, down 51.16% from CNY 6,444,046.29 year-on-year[16]. - Basic earnings per share decreased to CNY 0.0393, down 51.24% from CNY 0.0806 in the same period last year[16]. - Operating profit fell to CNY 2.01 million, down 84.88% year-on-year, while net profit attributable to shareholders decreased by 51.16% to CNY 3.15 million, impacted by a slowdown in domestic market demand[26]. - The company reported a total comprehensive income of CNY 3,767,207.92, down from CNY 10,126,350.70, reflecting a decrease of approximately 62.8%[124]. - The company's total equity attributable to shareholders at the end of the period was 80,000,000.00, with a capital reserve of 223,565,736.12[136]. Cash Flow and Investments - The net cash flow from operating activities improved significantly to CNY 22,842,971.29, compared to a negative cash flow of CNY -90,870,442.70 in the previous year, marking a 125.14% increase[16]. - The company reported an investment income of CNY 1 million, a significant increase of 2,188.53% due to dividends received from available-for-sale financial assets[29]. - The net cash flow from operating activities increased to ¥18,488,242.20 from a negative ¥42,790,545.27 in the previous period, marking a significant turnaround[128]. - The total cash inflow from operating activities was driven by an increase in cash received from sales, which rose to ¥143,967,258.59 from ¥136,334,718.10, an increase of approximately 5.4%[128]. Assets and Liabilities - Total assets increased by 185.57% to CNY 2,608,042,713.92 from CNY 913,292,033.21 at the end of the previous year[16]. - Total liabilities increased to CNY 1,596,207,485.56, compared to CNY 258,971,163.04 at the start of the year[118]. - Current assets totaled RMB 895,443,981.32, up from RMB 373,336,145.49 at the beginning of the period, indicating significant growth[112]. - Accounts receivable rose to RMB 598,018,517.70 from RMB 117,625,951.58, showing a substantial increase of about 408.5%[111]. Operational Developments - The company has not reported any significant new product developments or market expansions during this period[16]. - The company is actively exploring overseas markets and leveraging the "Belt and Road" initiative to boost sales revenue[22]. - The company has implemented various marketing strategies to maintain market share amid economic pressures, with no significant changes in industry or market position reported[37]. - The company is focusing on expanding overseas markets in line with the "Belt and Road" initiative, adjusting its marketing strategies accordingly[37]. Research and Development - Research and development investment increased by 62.36% to CNY 7.80 million, reflecting the company's commitment to enhancing its R&D capabilities[27]. - The company has established a provincial engineering technology research center and is progressing towards building a national-level center, enhancing its R&D capabilities[39]. - The company plans to establish a national-level engineering technology research center within three years to enhance its R&D capabilities[58]. Corporate Governance and Shareholder Information - The company has not engaged in any related party transactions during the reporting period[72]. - Major shareholders include Li Hongguo with 34.39% (27,508,800 shares), Shao Xiuying with 13.37% (10,694,400 shares), and Wei Zhongchuan with 6.66% (5,328,000 shares)[98]. - The company has 3,548 total shareholders at the end of the reporting period[98]. - Li Hongguo has pledged 21,350,000 shares, while Shao Xiuying has pledged 1,000,000 shares[98]. Risk Management - The company faces risks related to management, market competition, and declining gross margins due to economic slowdowns, but is taking measures to mitigate these risks[40]. - The company has implemented measures to mitigate management risks associated with increased investments and acquisitions, including enhancing internal controls and attracting high-end management talent[22]. Financial Policies and Taxation - The company is recognized as a high-tech enterprise, allowing it to benefit from a reduced corporate income tax rate of 15% instead of the standard 25%[200]. - The tax incentive period for the high-tech enterprise status is from January 1, 2012, to December 31, 2014, with a previous period from January 1, 2009, to December 31, 2011[200]. - The company has submitted new materials for high-tech enterprise recognition, pending approval to continue enjoying tax benefits[200]. Mergers and Acquisitions - The company has completed the acquisition of Shanghai Xinhhe, enhancing its dual business strategy in chemical manufacturing and internet services, which is expected to improve overall profitability[38]. - The acquisition of Shanghai Xinhhe is expected to significantly boost future revenue and performance, with Shanghai Xinhhe achieving sales revenue of CNY 51,671.87 million and net profit of CNY 6,436.22 million in the first half of 2015[61]. - The company has completed the cash dividend distribution of CNY 4 million based on the 2014 annual profit distribution plan[62].

Financial Performance - Total revenue for Q1 2015 was CNY 125,741,600.20, an increase of 6.23% compared to CNY 118,371,054.45 in the same period last year[7] - Net profit attributable to shareholders decreased by 70.98% to CNY 492,500.75 from CNY 1,697,188.41 year-on-year[7] - Basic earnings per share dropped by 84.50% to CNY 0.0062 from CNY 0.04 in the same period last year[7] - The total profit was CNY 664,973.68, a year-on-year decrease of 83.47%[22] - The net profit attributable to shareholders was CNY 492,500.75, a year-on-year decrease of 70.98%[22] - The net profit for the period was CNY 594,898.20, a decrease of 78.6% from CNY 2,780,982.86 in the same period last year[57] - The profit attributable to the parent company's shareholders was CNY 492,500.75, down 70.0% from CNY 1,697,188.41[57] Cash Flow - Net cash flow from operating activities increased significantly by 320.84% to CNY 25,148,749.91 compared to CNY 5,975,852.94 in the previous year[7] - The net cash flow from operating activities was CNY 25,148,749.91, a significant increase of 320.5% compared to CNY 5,975,852.94 in the previous period[65] - Cash inflow from operating activities totaled CNY 146,451,284.38, up from CNY 100,967,216.97, reflecting a growth of 45.0%[64] - Cash outflow from operating activities was CNY 121,302,534.47, compared to CNY 94,991,364.03, representing an increase of 27.6%[65] - The net cash flow from investment activities was -CNY 2,754,019.87, an improvement from -CNY 28,017,338.59 in the previous period[66] - Cash inflow from financing activities was CNY 88,212,500.00, an increase from CNY 76,255,500.00, showing a growth of 15.4%[66] - The net cash flow from financing activities was -CNY 12,462,861.41, a decline from CNY 10,272,666.67 in the previous period[66] - The ending balance of cash and cash equivalents was CNY 69,693,805.24, compared to CNY 91,784,507.78 in the previous period, indicating a decrease of 24.0%[66] - The company received CNY 5,000,000.00 from investment absorption, marking a new source of cash inflow[66] Assets and Liabilities - Total assets at the end of the reporting period were CNY 922,499,041.09, reflecting a 1.01% increase from CNY 913,292,033.21 at the end of the previous year[7] - Current assets increased to CNY 381,467,118.06 from CNY 373,336,145.49, showing a growth of approximately 2.8%[48] - Total liabilities rose to CNY 374,639,977.11 from CNY 371,027,867.43, indicating a slight increase[50] - The company's equity attributable to shareholders increased to CNY 467,955,353.14 from CNY 467,462,852.39, showing a marginal growth[51] - The total liabilities of the company were CNY 256,237,982.12, slightly down from CNY 258,971,163.04[57] - The total equity of the company increased to CNY 456,928,401.97 from CNY 455,794,964.19, showing a marginal growth[57] Expenses - Sales expenses increased by 33.52% year-on-year, mainly due to the consolidation of Zhuoxing Chemical for an additional two months compared to the previous year[20] - Management expenses increased by 72.71% year-on-year, attributed to the transition of certain projects from construction to production phase[20] - Financial expenses increased by 242.06% year-on-year, primarily due to increased loan amounts leading to higher interest expenses[20] - The financial expenses rose significantly to CNY 2,610,052.09 from CNY 763,049.61, indicating increased borrowing costs[57] - The cash paid to employees increased to CNY 7,779,210.82 from CNY 1,755,377.37, reflecting a rise of 343.5%[65] - The cash paid for taxes rose to CNY 9,633,815.60 from CNY 617,970.74, indicating a significant increase of 1,558.5%[65] Investments and Projects - The company has committed to not transferring or entrusting shares for 36 months from the date of the initial public offering[34] - The project for 30,000 tons/year of polyether and supporting polyether polyols has a cumulative investment of CNY 9,880.1 million, achieving 100.31% of the planned investment[38] - The R&D center and pilot plant project has a cumulative investment of CNY 1,773.42 million, reaching 71.00% of the planned investment[38] - The supplementary working capital project has been fully utilized with an investment of CNY 3,000 million[38] - The project for 4.2 million square meters/year of high-efficiency fireproof polyurethane has a cumulative investment of CNY 8,346.2 million, with a slight shortfall of CNY 79.73 million[38] - The company has actively chosen to forgo certain engineering projects due to risks associated with cash flow and receivables in the real estate sector[39] - The company has successfully commenced trial production of qualified products from its supporting polyether polyol project, which is part of its overall production strategy[39] Market and Competition - The company faces management risks due to increased investments and potential mergers and acquisitions to enhance scale and profitability[10] - There is a risk of declining gross margins due to intensified market competition in the energy-saving and emission-reduction sector[10] - The company is actively developing high-cost performance products to mitigate risks associated with declining gross margins due to increased market competition[30] - The company is focusing on introducing high-end technology and management talent to address challenges from rapid expansion[25] - The company has implemented a product research and development planning process to ensure alignment with market demand and strengthen product confidentiality[31] - The company has identified safety risks associated with hazardous materials and is enhancing safety training and measures to reduce these risks[31] Shareholder Information - The total number of shareholders at the end of the reporting period was 7,205, with the top shareholder holding 34.39% of the shares[13] - There were no plans for share buybacks or significant changes in shareholder actions during the reporting period[45]