Financial Performance - The company's operating revenue for Q3 2023 was ¥697,906,110.83, representing an increase of 18.31% compared to ¥595,285,255.08 in the same period last year[5] - Net profit attributable to shareholders for Q3 2023 was ¥35,982,161.82, a decrease of 48.25% from ¥67,797,405.28 in the previous year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥49,724,828.90, down 31.93% from ¥71,329,643.45 year-on-year[5] - The basic earnings per share for Q3 2023 was ¥0.07, a decline of 46.15% compared to ¥0.13 in the same period last year[5] - Operating profit decreased by 32.42% to ¥252,396,209.51, attributed to market factors affecting the industry[12] - Net profit for Q3 2023 was CNY 233,225,392.52, a decline of 29.0% from CNY 328,286,250.23 in Q3 2022[30] - Earnings per share for Q3 2023 were CNY 0.40, compared to CNY 0.62 in Q3 2022[31] Assets and Liabilities - Total assets at the end of Q3 2023 were ¥6,627,018,996.21, an increase of 5.07% from ¥6,314,013,135.15 at the end of the previous year[5] - The total number of unrestricted shares held by the top 10 shareholders is 118,237,504 shares, with the largest shareholder being Feikai Holdings Co., Ltd.[16] - The total number of restricted shares at the beginning of the period was 3,086,253 shares, which increased to 3,257,673 shares by the end of the period[19] - The company's total current assets reached CNY 3,528,467,261.33, compared to CNY 3,382,740,004.21 in the same period last year, indicating an increase of about 4.31%[24] - The total liabilities stood at CNY 2,594,522,236.03, up from CNY 2,488,207,073.32, representing a rise of approximately 4.30% year-over-year[26] - The company's cash and cash equivalents decreased to CNY 1,035,704,220.69 from CNY 1,291,214,794.15, a decline of about 19.77%[24] Cash Flow - The company reported a net cash flow from operating activities of ¥160,571,914.56, a decrease of 48.55% compared to ¥312,087,262.32 in the previous year[5] - Cash received from operating activities rose by 117.41% to ¥296,298,357.79, driven by an increase in receivables[13] - Cash paid for operating activities increased by 36.42% to ¥489,448,233.15, reflecting higher payments for receivables[13] - The net cash flow from investment activities was -484,822,900.23 CNY, compared to -266,536,785.69 CNY in the previous year, indicating a decline of approximately 81.7%[35] - The total cash inflow from financing activities was 1,173,889,040.02 CNY, slightly down from 1,176,649,033.41 CNY year-over-year[35] - The net cash flow from financing activities decreased to 62,804,267.87 CNY from 186,286,577.26 CNY, representing a decline of about 66.3%[35] Investments and Expenses - Investment income surged by 127.96% to ¥22,568,407.23, mainly from the sale of trading financial assets during the reporting period[12] - Research and development expenses for Q3 2023 were CNY 140,657,565.01, a decrease of 7.4% from CNY 151,961,188.36 in Q3 2022[30] - The company's financial expenses increased by 42.42% year-on-year, reaching ¥39,617,164.91, primarily due to higher borrowing interest and reduced exchange gains[12] Shareholder Information - The company completed the vesting registration of 2,206,440 restricted stock units on September 18, 2023, with 171,420 shares locked up according to management regulations[19] - The company has implemented a stock incentive plan to enhance corporate governance and attract key personnel, approved by the board on July 29, 2022[20] - The total number of shares repurchased under the 2020 buyback plan was 2,000,000, which accounted for 100% of the shares used for the vesting of the incentive plan[21] Accounting Changes - The company adopted new accounting standards starting January 1, 2023, which resulted in adjustments to the financial statements[36] - Deferred tax assets increased from 76,409,638.18 CNY to 77,029,464.35 CNY, reflecting an adjustment of 619,826.17 CNY[38] - The deferred tax liabilities also increased by the same amount, from 35,099,990.23 CNY to 35,719,816.40 CNY[38] - The third-quarter report was not audited, indicating that the figures presented are subject to further verification[39]

Financial Performance - The company's operating revenue for Q3 2022 was ¥589,886,582.33, a decrease of 13.65% compared to the same period last year[6]. - The net profit attributable to shareholders for Q3 2022 was ¥69,534,108.75, down 31.44% year-on-year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥73,053,770.87, a decrease of 9.57% compared to the previous year[6]. - The basic earnings per share for Q3 2022 was ¥0.13, a decline of 35.00% from the same period last year[6]. - Total revenue for Q3 2022 reached ¥2,225,545,294.01, an increase of 18% compared to ¥1,885,656,486.92 in Q3 2021[28]. - Operating profit for the period was ¥373,464,713.77, up from ¥329,430,498.14 in the same period last year, reflecting a growth of approximately 13%[29]. - Net profit attributable to shareholders was ¥320,964,773.88, compared to ¥269,443,684.22 in Q3 2021, marking a year-over-year increase of about 19%[29]. - The total comprehensive income attributable to the parent company reached CNY 339,835,332.17, an increase from CNY 291,406,923.72 in the previous period, reflecting a growth of approximately 16.6%[30]. - Basic earnings per share increased to CNY 0.62 from CNY 0.53, representing a growth of 17%[30]. Assets and Liabilities - Total assets at the end of Q3 2022 reached ¥6,335,156,039.67, an increase of 8.12% compared to the end of the previous year[6]. - The total liabilities amounted to ¥2,655,745,288.57, slightly up from ¥2,611,915,930.79, indicating a marginal increase of about 2%[27]. - Current assets totaled ¥3,386,487,124.04, an increase of 13% from ¥2,994,855,061.36 in the previous year[26]. - The company's total assets as of September 30, 2022, included cash and cash equivalents, trading financial assets, and accounts receivable, reflecting a robust liquidity position[23]. Cash Flow - The cash flow from operating activities for the year-to-date period was ¥312,087,262.32, up 9.54% compared to the same period last year[6]. - Cash received from operating activities increased by 522.37% to ¥136,282,844.77 due to an increase in receivables[14]. - Cash received from financing activities increased by 600.13% to ¥105,019,999.00 as the company added new financing lease borrowings during the reporting period[14]. - Net cash flow from operating activities was CNY 312,087,262.32, compared to CNY 284,916,900.00 in the previous period, indicating an increase of about 9.5%[32]. - Cash inflow from operating activities totaled CNY 2,694,490,970.41, up from CNY 2,135,964,188.21, marking a rise of approximately 26%[31]. - The net cash flow from financing activities was CNY 186,286,577.26, a significant improvement compared to a net outflow of CNY 122,937,253.53 in the previous period[33]. - The ending balance of cash and cash equivalents increased to CNY 1,058,845,707.52 from CNY 944,137,163.65, reflecting a growth of approximately 12.1%[33]. Investments and Expenses - Investment income decreased by 81.39% to ¥9,900,253.19 due to a reduction in cash received from the sale of trading financial assets compared to the previous year[13]. - Research and development expenses for the quarter were ¥151,961,188.36, up from ¥134,375,118.09, showing an increase of about 13%[28]. - Financial expenses decreased by 48.57% to ¥27,817,098.12 primarily due to reduced interest expenses after debt-to-equity swaps and increased foreign exchange gains[13]. - Other income decreased by 35.89% to ¥12,215,212.04 as government subsidies recognized during the reporting period were lower than the previous year[13]. - Cash outflow from investing activities was CNY 757,999,458.03, down from CNY 1,365,332,773.66, showing a decrease of about 44.5%[32]. - The company’s total cash inflow from investment activities was CNY 491,462,672.34, down from CNY 861,538,196.71, representing a decrease of approximately 43%[32]. Shareholder Information - The number of common shareholders at the end of the reporting period was 44,107[16]. - The company plans to grant 6,353,000 shares of restricted stock to 180 incentive targets at a price of ¥10.71 per share as part of its 2022 restricted stock incentive plan[22]. - The total number of restricted shares subject to lock-up at the end of the period was 3,669,075 shares, with 2,080,800 shares released during the period[20]. - The company completed the repurchase and cancellation of 60,760 shares of restricted stock from four former employees who left the company[22]. - The company’s total number of restricted shares at the beginning of the period was 5,546,755 shares, with a total of 2,080,800 shares released during the period[20]. Regulatory Compliance - The company is undergoing rectification measures as per the regulatory requirements from the China Securities Regulatory Commission[6].

Financial Performance - The company's operating revenue for Q1 2024 was ¥668,475,317.50, representing a 12.51% increase compared to ¥594,157,918.54 in the same period last year[4] - Net profit attributable to shareholders decreased by 17.13% to ¥59,841,252.83 from ¥72,212,645.69 year-on-year[4] - Basic and diluted earnings per share fell by 21.43% to ¥0.11 from ¥0.14 in the same period last year[5] - Operating profit for Q1 2024 was ¥72,380,204.98, down 12.6% from ¥82,445,569.52 in the same period last year[35] - The total comprehensive income for Q1 2024 was ¥64,710,650.61, compared to ¥61,412,775.12 in the same period last year[36] Cash Flow - The net cash flow from operating activities improved significantly, reaching ¥91,545,576.54, a 173.37% increase from a negative cash flow of ¥124,769,378.66 in the previous year[4] - Cash received from operating activities decreased by 48.52% to ¥30,335,937.84 compared to ¥58,923,372.50 in the previous year[12] - The net cash flow from investment activities was -31,912,182.57 CNY, a decrease from -104,235,678.58 CNY in the previous period[39] - Cash inflow from financing activities totaled 217,018,335.72 CNY, compared to 458,031,373.47 CNY last year[39] - The net cash flow from financing activities was -34,877,749.36 CNY, contrasting with a positive flow of 41,310,638.75 CNY in the previous year[39] Assets and Liabilities - Total assets as of March 31, 2024, were ¥6,501,984,080.69, a slight increase of 0.25% from ¥6,485,522,219.69 at the end of the previous year[5] - The total liabilities decreased to ¥2,487,214,697.76 from ¥2,535,845,207.11, indicating a decline of about 1.92%[31] - The company's total equity increased to ¥4,014,769,382.93, up from ¥3,949,677,012.58 in the previous quarter[32] Shareholder Information - The total number of common shareholders at the end of the reporting period is 44,362[13] - The largest shareholder, Feikai Holdings Limited, holds 22.37% of the shares, equating to 118,237,504 shares[13] - The total number of shares held by the top 10 shareholders accounts for 32.35% of the total share capital[13] Financial Strategy and Capital Management - The company plans to issue convertible bonds totaling up to RMB 832 million to enhance capital strength and profitability[20] - The company has received approval from the China Securities Regulatory Commission for its convertible bond issuance application[20] - The bond issuance is expected to provide additional funding for the company's ongoing projects and market expansion efforts[21] - The company plans to use up to 500 million yuan of temporarily idle raised funds for cash management without affecting the use of raised funds[22] - The company is committed to optimizing its capital structure and protecting investor interests through these financial strategies[22] Research and Development - Research and development expenses increased to ¥46,084,366.43, up 9.3% from ¥41,918,118.01 in the previous year[35] Regulatory Compliance - The company has conducted thorough checks and responses to feedback from regulatory bodies throughout the bond issuance process[21] - The company aims to ensure compliance with the latest regulations regarding the issuance of convertible bonds[21] Miscellaneous - The company did not execute any new accounting standards adjustments for the first quarter of 2024[40] - The first quarter report was not audited[40] - The company experienced a foreign exchange impact of 4,043,319.60 CNY on cash and cash equivalents[39]

Financial Performance - The company's operating revenue for 2021 was ¥2,624,274,282.07, representing a 40.79% increase compared to ¥1,864,010,456.29 in 2020[36]. - The net profit attributable to shareholders for 2021 was ¥385,796,752.99, a 67.86% increase from ¥229,832,851.68 in 2020[36]. - The net profit after deducting non-recurring gains and losses was ¥320,137,893.72, up 76.23% from ¥181,656,291.88 in 2020[36]. - The basic earnings per share for 2021 was ¥0.75, a 66.67% increase from ¥0.45 in 2020[36]. - The total assets at the end of 2021 were ¥5,859,358,389.64, reflecting a 5.78% increase from ¥5,539,431,903.13 at the end of 2020[36]. - The net assets attributable to shareholders increased by 11.19% to ¥3,163,666,786.21 at the end of 2021 from ¥2,845,252,424.57 at the end of 2020[36]. - The net cash flow from operating activities for 2021 was ¥255,121,598.47, a 49.33% increase from ¥170,838,697.34 in 2020[36]. - The weighted average return on equity for 2021 was 12.93%, up from 9.03% in 2020[36]. - The company's total revenue for Q4 2021 reached approximately 738.62 million, showing a steady increase from Q1's 562.92 million[38]. - Net profit attributable to shareholders for Q4 2021 was approximately 116.35 million, up from 68.21 million in Q1, reflecting a growth of 70.7%[38]. Market Trends and Opportunities - The semiconductor materials sector is expected to experience significant revenue and profit elasticity driven by innovation cycles and domestic substitution trends[7]. - The company benefits from the rapid growth of the LCD panel industry, which is becoming the largest production and consumption market globally[48]. - The semiconductor industry is entering a new golden development period, driven by domestic policy support and increasing demand in new fields such as AI and 5G[50]. - The OLED display materials market is expected to maintain rapid growth due to the increasing demand and domestic production capacity[151]. - The company plans to increase investment in semiconductor materials and display materials, aiming to enhance market competitiveness and expand market share[158]. Research and Development - The company emphasizes the need for continuous investment in R&D for new products and technologies to maintain market leadership and respond to higher production process demands[10]. - The company’s R&D expenditure reached 192.74 million, an increase of 41.31% year-on-year, accounting for 7.34% of total revenue[79]. - The company has established a comprehensive R&D innovation mechanism for new materials, positioning itself as a leading R&D base in China for new materials[92]. - R&D personnel increased to 518 in 2021, a 14.60% rise from 452 in 2020, with the proportion of R&D staff in total employees rising to 26.40%[123]. - The company has developed key technologies in screen display materials, semiconductor materials, and low oligomer resin synthesis, enabling it to break foreign monopolies and establish long-term strategic partnerships with major manufacturers[93][94][99]. Strategic Initiatives - The company is actively pursuing mergers and acquisitions to enhance strategic deployment, although uncertainties in market conditions may pose risks to successful integration[17]. - The company has established a robust technical confidentiality system to protect its core technologies, which are crucial for maintaining competitive advantages[11]. - The company has established a comprehensive platform for high-tech manufacturing materials, expanding its core business into integrated circuit manufacturing and pharmaceutical intermediates[66]. - The company plans to strengthen R&D efforts, focusing on product technology upgrades and patent accumulation to achieve leading performance standards[163]. - The company aims to enhance its scale and competitive strength through various methods such as investments, joint ventures, acquisitions, and mergers, while also utilizing capital market financing platforms[166]. Corporate Governance - The company maintains an independent operation and management structure, ensuring no adverse effects from the controlling shareholder on its governance and independence[176]. - The board of directors consists of nine members, including three independent directors, ensuring compliance with legal requirements and protecting the interests of minority shareholders[177]. - The company actively fulfills its corporate social responsibility and maintains communication with stakeholders to promote sustainable and healthy development[180]. - The company adheres to information disclosure obligations, ensuring that all disclosures are true, accurate, complete, timely, and easy to understand, with no violations of corporate governance norms reported during the period[181]. - The company has established an independent financial department with a complete financial accounting system, allowing for independent financial decision-making and tax compliance[188]. Investment and Financial Management - The company issued 825 million CNY in convertible bonds to fund projects including an annual production of 150 tons of TFT-LCD synthetic liquid crystal display materials and a 10,000 tons per annum UV curing fiber coating materials expansion project[15]. - The company raised a total of ¥825,000,000.00 through the issuance of convertible bonds, with a net amount of ¥808,957,470.71 after deducting related fees[141]. - The company plans to temporarily use up to ¥3 billion of idle raised funds to supplement working capital, with a usage period not exceeding 12 months[145]. - The company has signed tripartite supervision agreements with several banks to ensure the proper management and usage of raised funds[143]. - The company reported a fair value loss of ¥16,342,634.09 on financial assets during the reporting period[140].

Financial Performance - The company reported a revenue of RMB 1.2 billion for the first half of 2023, representing a year-on-year increase of 15%[19]. - The company's operating revenue for the reporting period was ¥1,301,122,686.71, a decrease of 20.45% compared to ¥1,644,523,048.18 in the same period last year[26]. - The net profit attributable to shareholders was ¥174,171,362.74, down 30.73% from ¥253,039,091.36 year-on-year[26]. - The net profit after deducting non-recurring gains and losses was ¥125,511,013.19, reflecting a significant decline of 53.66% from ¥272,691,810.05 in the previous year[26]. - The net cash flow from operating activities was ¥5,410,110.22, a drastic drop of 97.26% compared to ¥197,407,122.62 in the same period last year[26]. - The company’s cash and cash equivalents decreased by 216.51% to -¥350,160,975.89 compared to an increase of ¥300,548,176.88 in the previous year[99]. - The company’s revenue for the reporting period was ¥1,301,122,686.71, a decrease of 20.45% compared to ¥1,635,658,711.68 in the same period last year[98]. - The operating costs decreased by 13.12% to ¥853,292,122.03 from ¥982,153,621.41 year-on-year[98]. - Research and development investment was ¥89,153,125.31, down 17.21% from ¥107,690,894.02 in the previous year[98]. Market Expansion and Product Development - The company plans to launch two new products in Q4 2023, targeting a market expansion of 10% in the semiconductor materials sector[19]. - Future guidance indicates an expected revenue growth of 20% for the full year 2023, driven by increased demand in the electronics industry[19]. - The company is investing RMB 200 million in R&D for new technologies related to advanced materials[19]. - Market expansion efforts include entering two new international markets by the end of 2023[19]. - The company is exploring strategic acquisitions to enhance its product portfolio and market presence[19]. - The company is focusing on enhancing product structure and expanding product lines, including the launch of a new generation of photoinitiators (TMO)[79]. - The company plans to expand its investment in OLED display materials to maintain its market position and increase market share, reflecting a strong outlook for the OLED display materials industry[127]. Research and Development - The company has been focusing on the research, production, and sales of high-tech manufacturing materials and specialty chemicals since its establishment in 2002, expanding its core business into four major areas[35]. - The company focuses on independent R&D, with a structured approach involving basic and product R&D across three major product divisions[42]. - The company has received multiple high-tech product certifications for its liquid crystal materials, including "HTD hybrid liquid crystal material" and "HAG hybrid liquid crystal material" from Jiangsu Province[39]. - The company has established a postdoctoral research station to attract high-level technical talent and promote the transformation of research results[86]. - The company has a strong R&D advantage with a recognized enterprise technology center and a team of experienced technical personnel[90]. - The company is actively pursuing the upgrade of its production processes to improve efficiency and meet the high standards required in the electronics manufacturing sector[128]. Customer and Supplier Relations - The company employs a sales model primarily based on direct sales, with a focus on key clients in various application fields[47]. - The company has established a comprehensive customer service system, achieving high customer satisfaction and no safety violations during the reporting period[48]. - The company emphasizes a supply chain management strategy to optimize procurement prices and maintain supplier relationships[45]. - The company has established customer service points in multiple cities including Shanghai, Nanjing, and Shenzhen to enhance technical service capabilities[94]. - The company has maintained stable supply to customers for its 5000 tons per year TFT-LCD photoresist project and 5500 tons per year synthetic new materials project[87]. Risks and Challenges - The management highlighted potential risks including supply chain disruptions and increased competition in the materials sector[5]. - The company faces risks from macroeconomic fluctuations, which could impact product sales and profitability due to potential raw material price volatility and demand weakness[153]. - The company is closely monitoring raw material prices and trends to mitigate risks associated with supply shortages and price fluctuations[157]. - The company faces risks related to the inability of fundraising projects to achieve expected benefits due to adverse changes in market conditions and policies[160]. Environmental and Social Responsibility - The company has increased its environmental protection investments in recent years, ensuring compliance with national standards for waste emissions[162]. - The company has completed multiple environmental protection projects, including a 22,000t/a synthetic new materials project, which is now operational[177]. - The company has established a comprehensive environmental management system to promote green production and sustainable development[192]. - The company actively fulfills its social responsibilities, including protecting shareholder rights and maintaining supplier relationships[191]. - The company organized a charity event raising 10,000 yuan for impoverished families[193]. - The company donated 200,000 yuan to support students from low-income families[193]. Financial Management and Investments - The total amount of funds raised is RMB 825 million, with a net amount of RMB 808.96 million after deducting related expenses[120]. - The company has temporarily used RMB 199 million of idle raised funds to supplement working capital, which has been fully returned to the dedicated account[122]. - The company has approved the use of up to RMB 300 million of temporarily idle raised funds for cash management, investing in safe and liquid financial products[123]. - The company has engaged in various financial products, including bank wealth management products and private equity funds, with a total of 1,400,000 CNY in principal-protected floating income products[140]. - The company is actively managing its financial investments to optimize returns while navigating risks associated with high-risk financial products[140]. Corporate Governance - The company has implemented a profit distribution policy to ensure shareholder returns[191]. - The company held its annual general meeting on April 20, 2023, with a participation rate of 30.06%[167]. - The company will not distribute cash dividends or issue bonus shares for the first half of the year[171]. - The company has implemented a stock incentive plan to enhance corporate governance and align the interests of shareholders and core teams[172].

Revenue and Profit Performance - Manufacturing revenue decreased by 5.52% to 2,728,683,450.21 RMB in 2023 compared to 2,888,246,955.65 RMB in 2022[4] - Revenue for the reporting period was 2.728 billion yuan, a year-on-year decrease of 5.52%[155] - Net profit attributable to shareholders of the listed company was 112.35 million yuan, a year-on-year decrease of 74.15%[155] - Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 50.02 million yuan, a year-on-year decrease of 88.52%[155] - Net profit in Q4 2023 was negative at RMB -97,800,260.56, a significant drop compared to previous quarters[183] - Revenue for 2023 decreased by 5.52% to RMB 2,728,683,450.21 compared to RMB 2,888,246,955.65 in 2022[180] - Net profit attributable to shareholders dropped by 74.15% to RMB 112,353,264.00 in 2023 from RMB 434,641,294.99 in 2022[180] - Net profit after deducting non-recurring gains and losses fell by 88.52% to RMB 50,024,673.65 in 2023 from RMB 435,859,628.26 in 2022[180] - Operating cash flow decreased by 27.58% to RMB 290,304,716.02 in 2023 from RMB 400,862,605.60 in 2022[180] - Basic earnings per share declined by 75.00% to RMB 0.21 in 2023 from RMB 0.84 in 2022[180] - Total assets increased by 2.83% to RMB 6,485,522,219.69 in 2023 from RMB 6,307,056,659.43 in 2022[180] Market and Industry Trends - The global LCD panel industry has consolidated, with the number of major manufacturers reduced from ten to eight, and domestic Chinese panel manufacturers now hold a 70.9% market share, a historical high[190] - LCD TV panel prices rose in the first half of 2023 due to controlled supply, but began to decline in November due to weak demand, with average utilization rates of domestic high-generation panel factories showing a downward trend since August[191] - The LCD industry center has shifted to mainland China, where panel manufacturers can dynamically adjust supply and demand through flexible production line utilization rates, with BOE, TCL CSOT, and HKC leading the global LCD panel industry[192] - China's semiconductor sales reached $144.6 billion in November 2023, a 4.4% month-on-month increase and 7.99% year-on-year growth, marking the ninth consecutive month of growth[193] - China's fiber optic cable production reached 323 million core kilometers in 2023, with the market expected to grow to 540.8 billion yuan by 2025, driven by 5G and data center applications[194][195] - The global semiconductor market reached $573.5 billion in 2022, with Q3 2023 sales totaling $134.7 billion, a 4.5% year-on-year decline but a 6.3% quarter-on-quarter increase, marking nine consecutive months of growth[200] - China's semiconductor industry is entering a phase of large-scale high-speed development, with government policies supporting growth amidst challenges from US-China trade tensions[193] - The global fiber optic cable market is dominated by the top ten manufacturers, which hold 88.2% of the market share, with Chinese companies like Yangtze Optical Fiber and Hengtong occupying significant positions[195] - LCD panel prices are expected to stabilize in 2024, with smaller-sized panels potentially seeing price increases, indicating a positive trend for the industry[199] R&D and Innovation - R&D expenses grew by 3.02% to 189,235,361.76 RMB[8] - The company established a "Postdoctoral Research Station" to enhance technological innovation and talent development[2] - The company's R&D personnel increased by 4.53% to 600 in 2023, with R&D personnel accounting for 27.59% of the total workforce[28] - The company emphasizes continuous R&D investment in new products and process optimization to maintain technological competitiveness[56] - R&D investment for new products and technologies amounted to $120 million, accounting for 8.5% of total revenue[142] Subsidiaries and Acquisitions - The company's total assets for its subsidiary Anqing Feikai are 1,612,265,171.45 RMB, with net assets of 822,553,475.13 RMB, and operating revenue of 954,666,780.44 RMB[23] - The subsidiary Hecheng Display has total assets of 1,483,254,286.32 RMB, net assets of 1,237,275,111.72 RMB, and operating revenue of 1,022,107,320.47 RMB[23] - The company acquired 33.04% equity of Runao Chemical in 2023, adding to previous acquisitions of Kunshan Xingkai (60.00%), Hecheng Display (100.00%), and Darui Technology (100.00%)[57] - Completed the acquisition and integration of 33.04% equity in Guangzhou Runao Chemical Materials Co., Ltd., including financial management, corporate governance, and R&D resource sharing[124] - The company completed two strategic acquisitions, totaling $200 million, to enhance its product portfolio and market reach[142] Financial Management and Investments - Investment activities cash outflow increased by 128.03% due to increased purchase of financial products[10] - The company invested a total of 173.64 million yuan in fixed assets during the reporting period, with a cumulative investment of 572.07 million yuan across various manufacturing projects[13] - The company raised 825 million yuan through convertible bonds in 2020, with a net amount of 808.96 million yuan after deducting fees[16] - As of December 31, 2023, the company had used 461.83 million yuan of the raised funds, with a remaining balance of 385.81 million yuan[17] - The company used 200 million yuan of idle raised funds to temporarily supplement working capital, with a usage period not exceeding 12 months[17] - The company used no more than 200 million RMB of idle raised funds to temporarily supplement working capital, with a usage period of no more than 12 months from the date of approval by the fifth meeting of the fifth board of directors[19] - The company used up to RMB 250 million of idle raised funds to temporarily supplement working capital in 2022, with all funds returned to the dedicated account within the stipulated period[38] - As of December 31, 2023, the unused raised funds balance was RMB 385.81 million, with RMB 311.31 million stored in the raised funds account for future projects[38] - The company used up to RMB 300 million of idle raised funds to temporarily supplement working capital in 2021, with all funds returned to the dedicated account within the stipulated period[38] - The company used up to RMB 300 million of temporarily idle raised funds for cash management, with RMB 74.5 million in bank structured deposits not yet redeemed as of December 31, 2023[38] - The company approved the use of up to 300 million yuan of temporarily idle raised funds for cash management, purchasing financial products or structured deposits with high safety and good liquidity[35] - The company has stored all raised funds in special accounts to standardize the management and use of raised funds, protecting investors' interests[35] Project Progress and Investments - The 280-ton new liquid crystal material mixing and R&D center project has a progress rate of 46.87% with an investment of 115.56 million yuan[13] - The 2,230-ton halogenated compound construction project is 93.65% complete with a cumulative investment of 65.56 million yuan[13] - The 6,000-ton UV-curable resin and surface treatment coating project has a progress rate of 65.72% with a cumulative investment of 26.29 million yuan[13] - The 150-ton TFT-LCD synthetic liquid crystal display material project has been changed, with a cumulative investment of 13.59 million yuan and a progress rate of 70.48%[18] - The 10,000-ton UV-curable optical fiber coating material expansion project has a progress rate of only 3.38% with an investment of 3.82 million yuan[18] - The 120-ton TFT-LCD mixed liquid crystal display material project has a progress rate of 44.12% with a cumulative investment of 48.95 million yuan[18] - The company changed the investment project from "10000t/a UV-curable optical fiber coating material expansion project" to "annual production of 50 tons of high-performance mixed liquid crystal and 200 tons of high-purity electronic display monomer material project" with a total investment of 11,307.00 million RMB, of which 528.85 million RMB was actually invested in the reporting period, accounting for 4.68% of the total investment[19][21] - The company changed the investment project from "annual production of 2000 tons of new photoinitiator project" to "acrylic ester and photoresist product upgrade and transformation construction project" with a total investment of 9,512.00 million RMB, of which 546.74 million RMB was actually invested in the reporting period, accounting for 5.75% of the total investment[19][21] - The company changed the investment project from "annual production of 500 kg OLED display material project" to "annual production of 15 tons OLED terminal display material sublimation and purification project" with a total investment of 6,555.00 million RMB, of which 1,491.13 million RMB was actually invested by the end of the period, accounting for 22.75% of the total investment[19][21] - The company changed the investment project from "annual production of 150 tons TFT-LCD synthetic liquid crystal display material project" to "Jiangsu Hecheng annual production of 280 tons new liquid crystal material mixing and R&D center construction project" with a total investment of 19,282.00 million RMB, of which 13,590.06 million RMB was actually invested by the end of the period, accounting for 70.48% of the total investment[19][21] - The "Annual Production of 280 Tons New Liquid Crystal Material Mixing and R&D Center Construction Project" and other modified projects are still under construction and have not reached planned progress or expected benefits[37] - The "Annual Production of 50 Tons High-Performance Mixed Liquid Crystal and 200 Tons High-Purity Electronic Display Monomer Materials Project" is still under construction and has not reached planned progress or expected benefits[37] - The company completed the construction of a 1000t/a photoresist supporting products project, including developer, stripper, etchant, and cleaning solutions[87] - A 3500t/a UV-curable photoresist project has been completed and is operational[87] - The company has expanded its UV-curable optical fiber coating material production capacity to 10000t/a[87] - A 5000t/a photoresist expansion project has been completed and is operational[87] - The company is currently constructing a 32t/a OLED display material project[87] - 6000t/a UV curing resin and surface treatment coating project has been completed and independently accepted[104] - 22000t/a synthetic new material project (Phase I: 5500t/a halogenated hydrocarbon series products and 3500t/a electronic-grade phenolic resin products) has been completed and accepted by Anqing Environmental Protection Bureau[104] - 50t/a high-performance optoelectronic new material project has been completed and independently accepted[104] - 100t/a high-performance optoelectronic new material upgrade project is awaiting acceptance[104] - 2230t/a halogenated compound construction project has been completed[104] - 100t/a TFT-LCD high-end liquid crystal material project has been completed and accepted by Nanjing Environmental Protection Bureau[104] - Annual production of 50 tons of high-performance mixed liquid crystal and 200 tons of high-purity electronic display monomer material project is under construction[104] Environmental and Safety Management - Organic waste gas purification treatment device in Area A has a processing capacity of 10,000m³/h and is operating normally[107] - Wastewater treatment in Area B has a processing capacity of 120m³/d and is operating normally[107] - Organic waste gas treatment device in Kunshan Xingkai has a processing capacity of 40,000m³/h and is operating normally[107] - Anqing Feikai, Hecheng New Materials, and Kunshan Xingkai have established environmental self-monitoring plans and emergency response measures to strengthen environmental protection management and prevent pollution incidents[108] - Anqing Feikai has implemented an online monitoring system for wastewater, detecting COD, ammonia nitrogen, and pH values in real-time, and regularly commissions qualified units for testing[109] - Hecheng New Materials has an online monitoring system for wastewater and exhaust gas, detecting COD, ammonia nitrogen, pH, flow rate, non-methane total hydrocarbons, and temperature in real-time, with regular maintenance and testing[110] - Kunshan Xingkai conducts regular maintenance on exhaust gas treatment equipment, including filter and activated carbon replacement, and commissions qualified units for monitoring[111] - The company has established an EHS department to oversee environmental protection, incorporated environmental protection into performance evaluations, and paid environmental protection taxes in full for 2023[112] - Hecheng New Materials was fined RMB 30,000 for non-standard exhaust gas emissions during production, violating the Air Pollution Prevention and Control Law[114] - The company has not experienced any major production safety accidents in 2023, adhering to strict safety management and risk control systems[116] - Subsidiaries such as Anqing Feikai and Kunshan Xingkai are designated as key pollutant discharge units, adhering to environmental laws and industry standards[126] - Anqing Feikai's emissions: VOCs at 7.38mg/m³ (A区), 9.05mg/m³ (B区), 15.69mg/m³ (C区), all within standards[128] - Anqing Feikai's COD emissions: 36.68mg/L (A区), 97.96mg/L (B区), 132.8mg/L (C区), all within the 500mg/L standard[128] - Hecheng New Materials' COD emissions: 207.9mg/L, ammonia nitrogen: 5.3mg/L, TP: 0.524mg/L, all within standards[128] - Noise emissions at Anqing Feikai: daytime 57.0db (A区), 57.5db (B区), 58.5db (C区), all within 65db standard[128] - Noise emissions at Hecheng New Materials: daytime 57.8db, within 65db standard[128] Corporate Governance and Management - The company has established four specialized committees under the board: Strategy Committee, Compensation and Evaluation Committee, Audit Committee, and Nomination Committee[60] - The board of directors held 9 meetings during the reporting period, with all directors actively participating in relevant training and fulfilling their duties[60] - The company held 8 supervisory board meetings during the reporting period, effectively supervising major company matters and financial status[61] - The company has established an independent financial department and internal audit department, with dedicated financial management and internal audit personnel. It has formulated financial management and internal audit management systems independent of the controlling shareholder and established an independent financial accounting system[65] - The company has a sound organizational structure system and has formulated comprehensive job responsibilities and management systems. Each functional agency operates independently according to its prescribed duties, without interference from controlling shareholders or any other units or individuals[63] - The company has established a Board of Directors Audit Committee, which is responsible for communication between internal and external audits, supervising the implementation of the internal audit system, reviewing the execution of internal control systems, and examining financial information and disclosures[62] - The company has implemented a "quality and return dual improvement" action plan, but it is not disclosed whether the plan has been disclosed[64] - The company has established a rigorous, scientific, and effective internal control system suitable for its actual situation, continuously updating and improving the internal control system during the reporting period[71] - The company has strengthened internal audit supervision, enhancing the depth and breadth of internal audit work, and dynamically tracking large fund transactions to prevent fund misappropriation[71] - The company's profit distribution plan was approved by the Fifth Board of Directors' Tenth Meeting and will be implemented within two months after approval by the 2023 Annual Shareholders' Meeting[70] - The company has a comprehensive internal control system in place, with regular updates and improvements to ensure compliance with regulatory requirements and support business development[71] - The company held a total of 8 board meetings in 2023, with key resolutions including the approval of the 2022 annual report and financial statements, and the nomination of the fifth board of directors[72] - The audit committee reviewed and approved the 2022 internal audit summary, 2023 audit plan, and the 2022 annual financial report, ensuring compliance with relevant regulations[74] - The nomination committee reviewed and approved the nomination of candidates for the fifth board of directors, ensuring they met the necessary qualifications and capabilities[74] - The compensation and evaluation committee approved the 2023 senior management compensation plan and adjustments to independent director compensation[74] - The company implemented a comprehensive talent development system, including talent assessment and multi-channel career development paths, to meet future strategic needs[78] - The company's board and management underwent significant changes, with several key positions including independent directors, board members, and senior executives being replaced or resigned due to personal reasons or term expirations[135][136] - ZHANG JINSHAN was appointed as the new General Manager effective March 26, 2024, to meet the company's operational development needs[136] - The company elected new independent directors and board members during the 2023 board and supervisory committee reshuffle, including SHEN Xiaoliang, TU Bin, and TANG Zhonghui[135] Compensation and Incentives - Total compensation for directors, supervisors, and senior management in 2023 was 11.6431 million yuan, paid to 21 individuals (including 5 who left)[50] - Chairman Zhang Jinshan received a total pre-tax compensation of 892,400 yuan[52] - Vice Chairman and General Manager Su Bin received a total pre-tax compensation of 1.3455 million yuan before his resignation[52] - Director and Vice President Song Shuguo received the highest compensation among current executives at 2.4675 million yuan[52] - Independent directors received a standard compensation of

Financial Performance - The company's revenue for Q1 2023 was ¥594,157,918.54, a decrease of 31.10% compared to ¥862,361,400.73 in the same period last year[4] - Net profit attributable to shareholders was ¥72,212,645.69, down 46.73% from ¥138,763,627.91 year-on-year[4] - The net profit after deducting non-recurring gains and losses was ¥65,836,409.42, a decline of 54.51% compared to ¥148,014,429.72 in the previous year[4] - Basic earnings per share decreased by 46.15% to ¥0.14 from ¥0.27 year-on-year[5] - The company reported a net profit margin of approximately 2.0% for Q1 2023, compared to 3.0% in Q1 2022[32] - The net profit for Q1 2023 was CNY 75,961,914.20, a decrease of 44.4% compared to CNY 136,776,573.84 in Q1 2022[33] - The company reported a total comprehensive income of CNY 61,412,775.12, significantly lower than CNY 134,950,177.81 in Q1 2022[34] Cash Flow and Liquidity - The net cash flow from operating activities was -¥124,769,378.66, representing a significant decrease of 331.24% from -¥28,932,390.17 in the same period last year[4] - Cash and cash equivalents at the end of Q1 2023 were CNY 1,092.04 million, a decrease of 15.4% from CNY 1,291.21 million at the beginning of the year[28] - The cash received from investment activities increased by 56.12% to 212,325,829.29, mainly due to the redemption of bank wealth management products[13] - The cash paid for investments surged by 558.66% to 43,864,000.00, primarily due to new investments made during the reporting period[13] - The cash flow from operating activities showed a net outflow of CNY 124,769,378.66, compared to a smaller outflow of CNY 28,932,390.17 in the same period last year[35] - The company incurred a foreign exchange loss of CNY 2,513,446.92 during the quarter[34] Assets and Liabilities - Total assets at the end of the reporting period were ¥6,232,162,373.82, a decrease of 1.19% from ¥6,314,013,135.15 at the end of the previous year[5] - Total liabilities decreased to CNY 2,356.94 million, down 5.3% from CNY 2,488.21 million at the beginning of the year[30] - Accounts receivable increased to CNY 819.43 million, up 4.9% from CNY 781.22 million at the beginning of the year[28] - Inventory at the end of Q1 2023 was CNY 752.28 million, an increase of 1.9% from CNY 740.78 million at the beginning of the year[28] Investment and Financing Activities - The company plans to issue convertible bonds totaling up to RMB 825 million to enhance capital strength and profitability[20] - The company has received approval from the China Securities Regulatory Commission for the issuance of convertible bonds[21] - The company plans to apply for a comprehensive credit limit of up to RMB 3.3 billion from financial institutions to support its operational and business development needs[25] - The company approved a loan of up to RMB 36 million to its subsidiary, Kunshan Xingkai Semiconductor Materials Co., Ltd., to support its operational funding needs[25] Regulatory and Governance - The company is undergoing a restructuring process in response to regulatory measures from the China Securities Regulatory Commission[6] - The company has implemented changes in accounting policies affecting the financial statements, leading to restatements of previous financial data[5] - The company has been actively working with intermediaries to address the feedback from regulatory bodies regarding the bond issuance[20] - The company completed the election of its fifth board of directors and supervisory board, ensuring continuity in governance and management[25] Operational Changes and Future Plans - The company plans to focus on expanding its market presence and investing in new product development in the upcoming quarters[32] - The company has changed the project from an annual production of 500 kg OLED display materials to an annual production of 15 tons of OLED terminal display materials purification project[21] - The company approved a change in the use of raised funds to fully allocate them to the construction of a new liquid crystal materials mixing and R&D center project with an annual capacity of 280 tons[23]

Financial Performance - The company's operating revenue for the reporting period was CNY 272,868.35 million, a decrease of 5.52% compared to the previous year[9]. - The net profit attributable to shareholders was CNY 11,235.33 million, down 74.15% year-on-year, while the net profit after deducting non-recurring gains and losses was CNY 5,002.47 million, a decline of 88.52%[9]. - The net cash flow from operating activities for 2023 was ¥290,304,716.02, a decrease of 27.58% compared to ¥400,862,605.60 in 2022[32]. - Basic earnings per share for 2023 were ¥0.21, down 75.00% from ¥0.84 in 2022[32]. - The company experienced a significant drop in quarterly net profit in Q4 2023, reporting a loss of ¥97,800,260.56 compared to profits in previous quarters[35]. - The company reported a total sales amount of ¥1,180,566,898.63 from its top five customers, representing 43.27% of the annual total sales[108]. - The total procurement amount from the top five suppliers was ¥441,761,892.78, which accounted for 18.29% of the annual total procurement[109]. Revenue Breakdown - The semiconductor materials business achieved a revenue growth of 2.58% with a gross profit margin increase of 1.77%[11]. - The screen display materials business saw a revenue increase of 4.89%, but the gross profit margin decreased by 2.94%[11]. - The ultraviolet curing materials business's revenue declined by only 3.74% due to the synergy effects from the newly integrated Runao Chemical, with a gross profit margin increase of 2.92%[11]. - Revenue from screen display materials increased by 4.89% to ¥1,283,038,862.76, accounting for 47.02% of total revenue[99]. - The revenue from overseas markets decreased by 28.93% to ¥305,170,717.54, which is 11.18% of total revenue[99]. Strategic Plans and Goals - The company plans to optimize its business structure and strengthen core competitiveness in 2024, focusing on expanding market share and enhancing resource investment in new product introductions[12]. - The company aims to maintain its competitive edge in the electronic chemical materials sector, focusing on the development of new technologies and market expansion strategies[41]. - The company plans to enhance its market share in liquid crystal materials and photoresist products through continuous R&D and process improvements[46]. - The company will implement a dual-driven strategy of product operation and capital operation to enhance its scale and competitiveness in 2024[162]. - In 2024, the company will continue to deepen its focus on display materials, semiconductor materials, UV curing materials, and pharmaceutical intermediates, while actively investing in product R&D[163]. Research and Development - R&D expenses for the reporting period amounted to 189.24 million yuan, accounting for 6.94% of total revenue, reflecting a year-on-year increase of 0.58%[91]. - The number of R&D personnel increased by 4.53% to 600 in 2023, accounting for 27.59% of the total workforce[115]. - The company has received multiple high-tech product certifications from Jiangsu Province for its liquid crystal materials[69]. - The company has developed advanced UV curing materials for fiber optic cables, which have received multiple awards, including the Shanghai Municipal High-tech Achievement Transformation Project[66]. - The company has successfully validated new products such as cholesteric liquid crystal and PI-Less liquid crystal with clients, expanding its application fields[91]. Market Trends and Industry Insights - The global semiconductor market reached a record size of 573.5 billion in 2022, although the growth rate is slowing down[47]. - In Q3 2023, global semiconductor sales totaled 134.7 billion, reflecting a year-over-year decline of 4.5% but a quarter-over-quarter increase of 6.3%[47]. - China's semiconductor sales reached a peak of $17.16 billion in December 2021, followed by a decline to $10.97 billion in February 2023, but have since increased for nine consecutive months, reaching $14.46 billion in November 2023, marking a 4.4% month-on-month growth and a 7.99% year-on-year growth[49]. - The production of integrated circuits in China was 351.4 billion pieces in 2023, representing a year-on-year growth of 9.6%[50]. - The demand for optical cables in China is projected to grow at a compound annual growth rate of 2.9% from 2021 to 2026[51]. Operational Efficiency and Cost Management - The company will improve production efficiency by optimizing production processes and reducing raw material consumption[12]. - The company has focused on optimizing production management to control costs, enhancing operational efficiency and reducing expenses[90]. - The company has a strong cost advantage due to its mastery of key raw material synthesis technologies, which enhances product performance and reduces production costs[82]. - The average price of raw material A decreased from 2,999.53 RMB/kg in the first half to 2,924.54 RMB/kg in the second half[74]. - The company's raw material costs amounted to ¥1,427,570,399.33, accounting for 79.82% of operating costs, a slight decrease of 1.28% compared to 2022[104]. Governance and Compliance - The company has a board of directors consisting of 9 members, including 3 independent directors, and held 9 board meetings during the reporting period[185]. - The company maintains an independent operational structure, with no financial dependencies on the controlling shareholder, ensuring complete autonomy in business decisions[193]. - The company has implemented a robust internal control management system to enhance governance and ensure the achievement of operational goals[188]. - The company adheres to strict information disclosure practices, ensuring transparency and timely communication with all investors[191]. - The company has established independent personnel management systems, ensuring that all senior management operates solely within the company[194]. Environmental and Social Responsibility - The company is committed to environmental protection and has invested significantly in building an effective environmental management system to address waste emissions[177]. - The company is aware of macroeconomic risks and will adjust strategies to mitigate impacts from international trade tensions and domestic economic challenges[170]. - The company emphasizes its commitment to providing high-quality new materials for high-tech manufacturing and focuses on long-term development and market expansion[157]. - The company is actively expanding its overseas presence to stay updated on international material technologies and market trends, enhancing its overall capabilities[171]. - The company has implemented a comprehensive accounts receivable management system to control credit risks, especially for long-overdue receivables[175].

| 证券代码：300398 | 证券简称：飞凯材料 | 公告编号：2024-068 | | --- | --- | --- | | 债券代码：123078 | 债券简称：飞凯转债 | | 上海飞凯材料科技股份有限公司 关于监事会主席辞职暨补选非职工代表监事的公告 本公司及监事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 券交易所创业板股票上市规则》、《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》、《公司章程》的有关规定，公司于 2024 年 5 月 10 日召开第五届监事会第九次会议，审议通过了《关于补选第五届监事会 非职工代表监事的议案》，同意补选贺云扬女士（简历后附）为公司第五届监事 会非职工代表监事候选人。 本次补选非职工代表监事事项尚需提交公司 2023 年年度股东大会审议，贺 云扬女士担任第五届监事会非职工代表监事的任期自股东大会审议通过之日起 至第五届监事会任期届满之日止。公司监事会已对贺云扬女士的资格条件、经营 和管理经验、专业素养等基本情况进行了充分了解，认为其符合现行法律的有关 规定和公司的实际需要。 一、监事会主席辞职的情 ...

| | | 上海飞凯材料科技股份有限公司 关于 2023 年年度股东大会增加临时提案 暨股东大会补充通知的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 上海飞凯材料科技股份有限公司（以下简称"公司"）2024 年 4 月 29 日发 布了《关于召开 2023 年年度股东大会的通知》，定于 2024 年 5 月 21 日以现场 和网络投票相结合的方式召开 2023 年年度股东大会。具体内容详见公司于巨潮 资讯网发布的相关公告。 2024 年 5 月 10 日，公司第五届监事会第九次会议审议通过了《上海飞凯材 料科技股份有限公司关于补选第五届监事会非职工代表监事的议案》，具体内容 详见公司于巨潮资讯网发布的相关公告。 为节约成本、提高决策效率，公司控股股东飞凯控股有限公司提请公司董事 会将《上海飞凯材料科技股份有限公司关于补选第五届监事会非职工代表监事的 议案》以临时提案的方式提交公司 2023 年年度股东大会一并审议。 根据《公司章程》、《股东大会议事规则》等有关规定：单独或者合计持有 公司 3%以上股份的股东，可以在股东大会召开 10 日前提出临时提案 ...