证券代码：300398 证券简称：飞凯材料 上海飞凯材料科技股份有限公司投资者关系活动记录表 编号：2021-003 | --- | --- | --- | --- | |-----------------------|-----------------------------------------|----------------------|--------------------------------------------------------| | | | | | | | ■特定对象调研 □媒体采访 □业绩说明会 | □分析师会议 | | | 投资者关系活动 | □新闻发布会 □路演活动 | | | | 类别 | □现场参观 | | | | | □其他 （请文字说明其他活动内容） | | | | | 海富通基金：赵莹洲 天风证券：李由、乔敏 | | | | 参与单位名称及 | 国金证券资管：崔婧、林恋 | | 兴全基金：翟秀华 | | 人员姓名 | 东证融汇资管：王笑宇 睿郡资产：丁晨霞 | | | | | 中泰证券资管：林圣 | | | | 时间 | 2021 年 8 月 20 日 10:0 ...

Group 1: Company Overview and Market Position - Shanghai Feikai Materials Technology Co., Ltd. is a significant supplier of TFT-LCD materials in China and a major supplier of optical fiber coating materials [24] - The company has established long-term supply relationships with major semiconductor packaging enterprises [24] - The company’s products are primarily applied in display screens, semiconductors, optical fiber cables, automotive manufacturing, and pharmaceutical intermediates, with substantial market opportunities for domestic replacements [21] Group 2: Financial Performance and Shareholder Concerns - The company reported good growth in revenue and profit for the first half of 2021 compared to the same period last year [12] - As of September 16, 2021, the total number of convertible bonds converted was 56,984, with 8,146,425 bonds remaining outstanding [20] - Concerns were raised regarding the stock price decline and the impact of large short-selling activities [3][4] Group 3: Investment and Strategic Initiatives - The company is focused on optimizing its equity structure through the introduction of state-owned capital, which is expected to enhance operational levels and bring in quality resources [5][6] - The new factory in Taicang will primarily produce materials for advanced semiconductor packaging and manufacturing [22] - The company is continuously investing in R&D to enhance its technological capabilities and product offerings [25][31] Group 4: Product Development and Market Trends - The company is currently validating its semiconductor photoresist products with downstream wafer manufacturers, which is a lengthy process [37] - The demand for UV curing materials is expected to grow, particularly in the context of clean fuel and electric vehicle trends [13] - The company is exploring opportunities in the medical dental materials sector, although current revenue contribution is limited [16] Group 5: Challenges and Future Outlook - Rising raw material prices are anticipated to have a limited overall impact on the company's performance due to the diversity of raw materials used [29] - The company faces challenges in the high-end photoresist market, which is largely dominated by foreign enterprises [39] - Future growth is expected to come from expanding product layouts in various downstream industries [32]

Financial Performance - In the first three quarters of 2021, the company achieved operating revenue of 188,685.38 million yuan, a year-on-year increase of 40.34% [1] - The net profit attributable to shareholders was 27,049.76 million yuan, up 59.34% compared to the same period last year [1] - The net profit after deducting non-recurring gains and losses was 23,223.64 million yuan, reflecting a growth of 79.20% year-on-year [1] Revenue Breakdown - Revenue from UV curing materials reached approximately 370 million yuan [2] - Revenue from semiconductor materials exceeded 400 million yuan [2] - Revenue from display materials was nearly 930 million yuan, with photoresist contributing over 50 million yuan [4] Gross Margin Insights - The overall gross margin remained stable compared to the previous year, with minimal impact from rising raw material prices [2] - The gross margins for various segments were approximately: - UV curing materials: 30% [3] - Semiconductor materials: 40% [3] - Display materials: 40% [3] - Pharmaceutical intermediates: 45% [3] Investment Projects - The "120 tons/year TFT-LCD mixed liquid crystal display materials project" is progressing as planned and is expected to be completed by early next year [2] - The "10,000 tons/year UV curing fiber coating materials expansion project" has received partial funding, focusing on preliminary preparations [2] - The "15 tons/year OLED terminal display materials sublimation purification project" is fully laid out but has some investment space due to production demand issues [2] Market Trends and Future Outlook - The increase in fiber optic cable prices is expected to boost demand for UV curing materials [2] - The company aims for 60%-80% of its required single crystal materials to be self-produced, which could significantly enhance profit margins [3] - The company anticipates maintaining a good growth rate in shipments for the current year and next year [3] International Revenue - Approximately 10% of the company's revenue comes from overseas markets, primarily from UV curing and display materials [5] - Exports of fiber coating materials account for about 15%, while liquid crystal products contribute around 10% [5] Financial Management - Financial expenses decreased in Q3 2021 due to better cash management of idle funds and reduced interest expenses from financing leases [6] - The company plans to focus on high-efficiency projects to improve overall net profit margins, aiming to restore them to above 15% in the future [6]

证券代码：300398 证券简称：飞凯材料 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投资者关系活动记录表 编号：2022-002 | --- | --- | --- | |----------------|-------------------------------------|-------------------------------------------------------------------------------------------------------------| | | □特定对象调研 □分析师会议 | | | | □媒体采访 ■业绩说明会 | | | 投资者关系活动 | □新闻发布会 | □路演活动 | | 类别 | □现场参观 | | | | ■其他 | 上海辖区上市公司集体接待日暨中报业绩说明会 | | 参与单位名称及 | 参与公司 2022 | 年上海辖区上市公司集体接待日暨中报业绩说 | | 人员姓名 | 明会的投资者 | | | 时间 | 2022 年 9 月 8 日 15:00 | —— 16:30 | | 地点 | 全景路演天 ...

Financial Performance - Revenue for Q3 2022 was ¥595,285,255.08, a decrease of 13.01% compared to the same period last year[5] - Net profit attributable to shareholders for Q3 2022 was ¥67,797,405.28, down 33.82% year-on-year[5] - Net profit excluding non-recurring items for Q3 2022 was ¥71,329,643.45, a decrease of 13.00% compared to the same period last year[5] - Total operating revenue for the period reached ¥2,239,808,303.26, an increase of 18.67% compared to ¥1,886,853,831.69 in the previous period[45] - Operating profit amounted to ¥373,304,561.55, up from ¥330,491,205.25, reflecting a growth of 12.93%[48] - Net profit attributable to the parent company was ¥320,836,496.64, compared to ¥270,497,612.10, marking a 18.61% increase[48] - The total comprehensive income for the period was ¥347,167,465.80, compared to ¥303,400,372.61, reflecting an increase of 14.39%[51] - The company reported a basic earnings per share of ¥0.62, up from ¥0.53 in the previous period[51] Assets and Liabilities - Total assets as of September 30, 2022, were ¥6,342,949,286.16, an increase of 8.22% from the end of the previous year[8] - The company's total liabilities as of September 30, 2022, were 3.785 billion CNY, compared to 3.445 billion CNY at the beginning of the year, indicating an increase of approximately 9.9%[36] - The company's total equity rose to ¥3,679,351,860.07, up from ¥3,247,511,845.06, a growth of 13.26%[41] - The company's non-current assets totaled 2.949 billion CNY, an increase from 2.864 billion CNY at the beginning of the year, reflecting a growth of about 3.0%[36] Cash Flow - Cash flow from operating activities totaled ¥2,694,490,970.41, an increase from ¥2,135,964,188.21, representing a growth of 26.06%[52] - Net cash flow from operating activities was 312,087,262.32, an increase from 284,916,900.00 in the previous period[55] - Total cash inflow from financing activities reached 1,176,649,033.41, compared to 689,311,487.36 in the prior year[58] - Net cash flow from financing activities improved to 186,286,577.26, reversing a loss of -122,937,253.53 from the previous period[58] - Total cash outflow from investing activities was 757,999,458.03, down from 1,365,332,773.66 in the previous year[55] - Net cash flow from investing activities was -266,536,785.69, an improvement from -503,794,576.95 in the prior period[55] Shareholder Information - The total number of common shareholders at the end of the reporting period was 44,107, with the top ten shareholders holding a significant portion of shares[17] - The largest shareholder, Feikai Holdings Limited, holds 23.16% of the shares, amounting to 122,439,304 shares[17] - The second-largest shareholder, Shanghai Semiconductor Equipment Materials Industry Investment Management Co., Ltd., holds 6.78% of the shares, totaling 35,846,210 shares[17] - The company has a repurchase account holding 4,447,180 shares, representing 0.84% of total shares, which is not included in the top ten shareholders list[20] Corporate Governance and Incentives - The company plans to enhance its corporate governance structure through the 2022 Restricted Stock Incentive Plan, aiming to attract and retain key personnel[26] - The company’s stock incentive plan has a total of 5,546,755 restricted shares, with 2,080,800 shares released from restrictions during the reporting period[25] - The company granted 6.353 million shares of restricted stock to 180 incentive targets at a price of 10.71 CNY per share on August 19, 2022[29] - The company completed the cancellation of 60,760 shares of restricted stock due to the departure of four incentive targets, reducing its registered capital accordingly[29] Expenses - Research and development expenses for the period were ¥151,961,188.36, compared to ¥134,375,118.09, indicating a 13.16% increase[45] - Cash paid to employees increased to 274,660,621.87 from 229,382,589.66 year-over-year[55] - Cash paid for taxes decreased to 122,206,713.01 from 140,882,174.02 in the previous period[55] - Cash received from investment income was 10,072,926.52, down from 68,143,407.76 in the prior year[55] - Cash received from other investment activities was 479,775,083.82, compared to 792,000,000.00 in the previous period[55]

Financial Performance - The company's revenue for Q1 2022 was ¥865,397,506.97, representing a 53.73% increase compared to ¥562,918,701.67 in the same period last year[5] - Net profit attributable to shareholders for Q1 2022 was ¥138,763,627.91, up 103.43% from ¥68,211,204.30 year-on-year[5] - The net profit after deducting non-recurring gains and losses was ¥148,014,429.72, a 139.75% increase from ¥61,736,630.39 in the previous year[5] - Basic earnings per share for Q1 2022 was ¥0.27, an increase of 107.69% from ¥0.13 in the previous year[5] - Total operating revenue for the first quarter reached CNY 865,397,506.97, a significant increase from CNY 562,918,701.67 in the previous year, representing a growth of approximately 53.7%[47] - Net profit for the quarter was CNY 139,987,981.91, compared to CNY 72,708,393.49 in the same period last year, reflecting an increase of approximately 92.5%[50] - The net profit attributable to the parent company was approximately ¥138.76 million, compared to ¥68.21 million in the previous period, representing a growth of 103.5%[53] - The total comprehensive income attributable to the parent company was approximately ¥136.96 million, up from ¥68.64 million, indicating an increase of 99.5%[53] - Basic and diluted earnings per share both stood at ¥0.27, doubling from ¥0.13 in the previous period[53] Cash Flow - The company's cash flow from operating activities was negative at -¥28,932,390.17, a decline of 181.63% compared to ¥35,444,172.62 in the same period last year[5] - Cash inflow from operating activities totaled approximately ¥823.46 million, compared to ¥598.45 million, reflecting a growth of 37.6%[57] - Cash outflow from operating activities was approximately ¥852.39 million, up from ¥563.00 million, resulting in a net cash flow from operating activities of approximately -¥28.93 million, down from ¥35.44 million[57] - Cash inflow from investment activities was approximately ¥136.59 million, compared to ¥461.65 million, showing a decrease of 70.4%[60] - Cash outflow from investment activities totaled approximately ¥315.96 million, down from ¥567.69 million, leading to a net cash flow from investment activities of approximately -¥179.37 million, worsening from -¥106.05 million[60] - Cash inflow from financing activities was approximately ¥461.44 million, compared to ¥224.89 million, an increase of 105.5%[60] - The net cash flow from financing activities was approximately ¥169.80 million, a significant improvement from -¥167.51 million in the previous period[60] - The ending cash and cash equivalents balance was approximately ¥780.87 million, down from ¥1,048.33 million, indicating a decrease of 25.5%[60] Assets and Liabilities - Total assets at the end of Q1 2022 were ¥6,147,746,538.51, a 4.89% increase from ¥5,861,104,692.09 at the end of the previous year[7] - Current liabilities rose to CNY 1,941,993,940.23, compared to CNY 1,772,664,341.90, which is an increase of approximately 9.5%[43] - The total equity attributable to shareholders increased to CNY 3,457,014,654.27 from CNY 3,163,736,172.42, representing a growth of about 9.3%[46] - The company's accounts receivable increased to 998,197,485.51 RMB as of March 31, 2022, compared to 818,517,745.61 RMB at the beginning of the year[37] - Long-term equity investments increased to CNY 2,729,853.44 from CNY 29,853.44, showing a substantial growth of approximately 9,000%[43] Shareholder Information - The total number of common shareholders at the end of the reporting period is 37,197[16] - The largest shareholder, Feikai Holdings Limited, holds 24.60% of shares, totaling 130,077,504 shares, with 40,630,000 shares pledged[16] - Shanghai Semiconductor Equipment Materials Industry Investment Management Co., Ltd. holds 6.78% of shares, totaling 35,846,210 shares[16] - Shanghai Guosheng Capital Management Co., Ltd. holds 4.92% of shares, totaling 26,000,000 shares[16] - The total number of restricted shares at the beginning of the period was 6,258,880, with 712,125 shares released during the period[21] - The number of unrestricted shares held by the top ten shareholders is 130,077,504 shares for Feikai Holdings Limited[20] - The company has a total of 3,935,300 shares held by shareholder Cai Jiancan through a margin trading account[20] - The total number of shares held by the top ten unrestricted shareholders is 6,258,880 shares[21] - The company has a significant portion of shares pledged, indicating potential liquidity concerns for major shareholders[16] Capital Management - The company plans to issue convertible bonds totaling up to RMB 825 million to enhance capital strength and profitability[26] - The adjusted total amount for the convertible bond issuance is RMB 825 million, with specific fundraising amounts to be determined by the board within this limit[29] - The company received approval from the China Securities Regulatory Commission for the issuance of convertible bonds on September 25, 2020[29] - The convertible bonds will have a face interest rate starting at 0.30% in the first year, increasing to 2.00% by the sixth year[29] - The initial conversion price for the bonds is set at RMB 19.34 per share[29] - The company plans to use up to RMB 500 million of temporarily idle raised funds for cash management without affecting the use of raised funds[29] - 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[29] - The convertible bonds were officially listed and began trading on the Shenzhen Stock Exchange on December 16, 2020, under the name "Feikai Convertible Bonds" with the code "123078"[29] - The company has undergone multiple adjustments and approvals regarding the issuance of convertible bonds throughout 2020, reflecting a proactive approach to capital management[29] - The company aims to enhance its capital structure and support business development through this bond issuance strategy[26] - The company completed the repurchase of 46,591 "Feikai Convertible Bonds" for a total amount of 4,662,734.09 RMB during the buyback period from March 2 to March 8, 2021[32] - The conversion price of "Feikai Convertible Bonds" was adjusted downwards from 15.62 RMB/share to 15.56 RMB/share effective from May 31, 2021[32] - The conversion period for "Feikai Convertible Bonds" commenced on June 3, 2021, and will last until November 26, 2026[32] - The company has maintained the conversion price of "Feikai Convertible Bonds" at 15.56 RMB/share following the repurchase of restricted stock, as the repurchased shares represent a small proportion of the total share capital[32]

Financial Performance - The company's operating revenue for 2021 was ¥2,627,104,370.59, representing a 40.94% increase compared to ¥1,864,010,456.29 in 2020[34]. - The net profit attributable to shareholders for 2021 was ¥385,866,139.20, a 67.89% increase from ¥229,832,851.68 in 2020[34]. - The net profit after deducting non-recurring gains and losses was ¥320,572,598.15, up 76.47% from ¥181,656,291.88 in 2020[34]. - The net cash flow from operating activities was ¥255,121,598.47, an increase of 49.33% compared to ¥170,838,697.34 in 2020[34]. - Basic earnings per share for 2021 were ¥0.75, a 66.67% increase from ¥0.45 in 2020[34]. - Total assets at the end of 2021 were ¥5,861,104,692.09, a 5.81% increase from ¥5,539,431,903.13 at the end of 2020[34]. - The net assets attributable to shareholders at the end of 2021 were ¥3,163,736,172.42, an 11.19% increase from ¥2,845,252,424.57 at the end of 2020[34]. - The weighted average return on equity for 2021 was 12.93%, up from 9.03% in 2020[34]. Market Expansion and Product Development - The company is actively expanding its product offerings in the fields of display materials, semiconductor materials, and UV curing materials, with new products aimed at applications in printed circuit boards, integrated circuits, and automotive sectors[9]. - The company plans to continue expanding its market presence and invest in new product development[34]. - The company is positioned to benefit from the rapid growth of the LCD panel industry, which is becoming the largest production and consumption market globally[46]. - The company is actively expanding its project construction, including a 10,000t/a UV curing fiber coating material expansion project and a 120-ton TFT-LCD mixed liquid crystal display material project[80]. - The company aims to enhance its market position in OLED display materials, anticipating rapid growth in demand driven by industry trends[146]. - The company is focused on expanding its production capacity for pharmaceutical intermediates and specialty fine chemicals to meet growing market demand[158]. Research and Development - The company’s R&D expenditure reached 192.74 million yuan, a 41.31% increase year-on-year, accounting for 7.34% of total revenue[77]. - 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[90]. - 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[91][92][93]. - The number of R&D personnel increased by 14.60% to 518 in 2021, accounting for 26.40% of the total workforce[121]. - The company plans to increase R&D investment to enhance the conversion rate of R&D results and develop high-quality new materials for high-tech manufacturing[155]. Risks and Challenges - The company faces risks related to rapid expansion, including the need for improved management systems and internal controls to effectively utilize scale advantages and maintain operational efficiency[12]. - The company is exposed to risks from intensified competition in the screen display materials and semiconductor materials sectors, necessitating continuous technological innovation and operational improvements[8]. - The company acknowledges the potential risks associated with mergers and acquisitions, including the possibility of unsuccessful integrations and failure to achieve synergies[16]. - The company is investing in fixed asset projects, which will significantly increase depreciation expenses, posing a risk of profit decline if capacity is not effectively converted into revenue[15]. Corporate Governance and Social Responsibility - The company maintains an independent governance structure, with its board of directors and supervisory board operating independently from its controlling shareholder[171]. - The company actively fulfills its corporate social responsibility, ensuring the coordination of interests among shareholders, employees, and society to promote sustainable and healthy development[175]. - 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 during the reporting period[176]. Investment and Financial Management - The company reported a net fundraising amount of ¥808,957,470.71 from the issuance of 8.25 million convertible bonds, after deducting related fees[139]. - The company has committed a total investment of ¥82,500 million for various projects, with a cumulative investment of ¥28,807.16 million as of the reporting period, achieving an investment progress of 34.9%[146]. - The company has signed tripartite supervision agreements with several banks to ensure the proper management and usage of raised funds[141]. - The company has not encountered any issues regarding the use and disclosure of raised funds during the reporting period[149]. Customer Relations and Sales Strategy - The company emphasizes a customer-centric service model, achieving high customer satisfaction and maintaining a robust customer service system[76]. - The company has established customer service points across multiple cities to meet personalized customer needs and ensure rapid response to technical requirements[101]. - The company maintains a direct sales model complemented by agency sales, focusing on key clients in various application fields[76].

Financial Performance - The company's revenue for Q3 2021 reached ¥684,303,935.89, an increase of 32.81% compared to the same period last year[5] - Net profit attributable to shareholders was ¥102,446,288.80, representing a 72.52% increase year-over-year[5] - The net profit after deducting non-recurring gains and losses was ¥81,991,419.77, up 59.84% from the previous year[5] - Basic earnings per share rose to ¥0.20, a 66.67% increase compared to the same period last year[5] - The company reported a 40.34% increase in total revenue for the year-to-date period, amounting to ¥1,886,853,831.69, attributed to increased downstream customer demand[13] - Net profit for the current period was ¥284,092,330.56, representing a 57.7% increase compared to ¥180,155,921.34 in the previous period[45] - Basic earnings per share rose to ¥0.53, up from ¥0.33 in the previous period, indicating a 60.6% increase[48] - The total comprehensive income for the current period was ¥303,400,372.61, compared to ¥178,354,052.74 in the previous period, a 69.9% increase[48] Cash Flow and Investments - The operating cash flow for the year-to-date period increased by 309.18%, totaling ¥284,916,900.00[5] - Cash flow from operating activities totaled ¥2,135,964,188.21, compared to ¥1,386,932,047.24 in the previous period, marking a 54.0% increase[49] - The net cash flow from operating activities was 284,916,900.00, a significant increase from 69,631,641.30 in the previous period, reflecting a growth of approximately 309%[52] - The total cash outflow from investing activities was 1,365,332,773.66, compared to 413,887,353.08 in the prior period, indicating a substantial increase in investment activities[52] - The company reported a cash flow impact from exchange rate changes of -454,683.93, contrasting with a positive impact of 786,506.72 in the prior period[55] - The company received 792,000,000.00 in cash related to investment activities, a significant increase from 100,000,000.00 in the previous period[52] - The cash paid for other investment-related activities was 1,102,000,000.00, compared to 100,000,000.00 previously, indicating a major increase in cash outflow for investments[52] Assets and Liabilities - Total assets as of September 30, 2021, were ¥5,859,786,119.31, reflecting a 5.78% increase from the end of the previous year[7] - The company's total assets reached 5,859,786,119.31 CNY, up from 5,539,431,903.13 CNY, indicating a growth of about 5.8%[41] - Total liabilities increased to 2,683,334,128.89 CNY from 2,620,215,208.61 CNY, an increase of approximately 2.4%[38] - The total liabilities included short-term borrowings of 762,963,000.00, remaining consistent with the previous period[59] - Total liabilities amounted to CNY 2,620,215,208.61, a decrease of CNY 5,367,290.64 from the previous period[62] - Non-current liabilities totaled CNY 957,568,392.07, reflecting a decrease of CNY 4,234,059.32[62] - Current liabilities reached CNY 1,662,646,816.54, showing a slight decrease of CNY 1,133,231.32[62] Shareholder Information - The total number of common shareholders at the end of the reporting period was 33,249, with the largest shareholder, Feikai Holdings Limited, holding 30.85% of shares[17] - The top ten shareholders collectively hold significant stakes, with Feikai Holdings Limited owning 159,225,604 shares, representing a substantial portion of the company's equity[21] - The company transferred 26,000,000 shares at a price of 15.00 CNY per share, totaling 390,000,000 CNY, to Guosheng Haitong Fund[27] - The introduction of Guosheng Haitong Fund as a shareholder is expected to enhance the company's operational level and optimize its equity structure[28] Operational Costs and Expenses - Total operating costs increased to ¥1,591,603,637.15, up 35.0% from ¥1,179,955,353.87 in the previous period[42] - Research and development expenses rose to ¥134,375,118.09, up from ¥104,544,809.44, indicating a 28.6% increase[42] - Cash paid for taxes increased to 140,882,174.02 from 77,951,121.13, indicating a rise in tax obligations[52] Other Financial Metrics - The company's weighted average return on equity was 3.38% for the current period, up from 1.09% year-over-year[7] - The company reported a capital reserve of CNY 986,142,252.77, with retained earnings of CNY 1,120,906,822.95[66] - The company has a long-term loan of CNY 108,341,443.68 and bonds payable of CNY 609,199,199.88[62] - The company has a total of CNY 70,603,230.40 in employee compensation payable[62] Compliance and Standards - The company has not audited its third-quarter report[67] - The company adopted the new leasing standards from January 1, 2021, impacting financial statement adjustments[65]

Financial Performance - The company reported a total revenue of 515.73 million RMB for the first half of 2021, a decrease of 0.25% compared to the same period last year[34]. - The net profit attributable to shareholders was 45.12 million RMB, representing a year-on-year increase of 12.5%[34]. - The company's operating revenue reached ¥1,202,549,895.80, an increase of 45.01% compared to the previous year[35]. - Net profit attributable to shareholders was ¥168,051,323.30, reflecting a growth of 52.25% year-over-year[35]. - The net profit after deducting non-recurring gains and losses was ¥150,244,974.36, up 91.88% from the previous year[35]. - The net cash flow from operating activities surged to ¥154,144,819.64, a remarkable increase of 1,016.29%[35]. - The company's weighted average return on equity rose to 5.77%, up from 4.47% in the previous year[35]. Market Expansion and Strategy - The company plans to focus on expanding its market presence and enhancing product development in the second half of 2021[34]. - The company is positioned to benefit from the rapid growth of the domestic LCD panel industry and the increasing demand for optical fiber due to 5G infrastructure development[52]. - The company has established long-term strategic partnerships with major LCD panel manufacturers due to its advanced mixed liquid crystal manufacturing technology[97]. - The company is focusing on expanding its market presence through new product development and technology advancements[194]. Research and Development - The company aims to enhance its R&D capabilities to support new product launches in the upcoming quarters[34]. - R&D expenditure totaled RMB 84.45 million, representing a 27.99% increase year-on-year, accounting for 7.02% of operating revenue[53]. - R&D expenses increased as new products entered the pilot test phase and new project personnel were hired[65]. - The company has established a comprehensive R&D innovation mechanism, with a well-equipped research center and experienced personnel[97]. Product Segments and Revenue Sources - Sales revenue from display materials reached ¥607,019,500, a growth of 56.77% year-over-year[47]. - Semiconductor materials generated sales revenue of ¥255,704,700, marking a 37.13% increase compared to the previous year[48]. - Sales revenue from UV curing materials was ¥240,138,100, which is a 32.63% increase from the same period last year[52]. - The screen display materials segment generated revenue of RMB 60,701.95 million, a growth of 56.77% year-on-year, driven by increased domestic panel production and new product launches[64]. - The semiconductor materials segment reported revenue of RMB 25,570.47 million, reflecting a 37.13% increase due to rising downstream demand[64]. - Revenue from UV curing materials reached RMB 24,013.81 million, a 32.63% increase, supported by growth in demand and expansion of functional materials[64]. Financial Management and Investments - The company has approved the use of up to RMB 500 million of temporarily idle raised funds for cash management, investing in safe and liquid financial products[135]. - The total amount of raised funds is RMB 825 million, with a net amount of RMB 808.96 million after deducting related fees[132]. - The company has established customer service points across multiple cities to enhance responsiveness to client needs and improve service quality[110]. - The company is actively managing its financial investments to optimize returns while minimizing risks[195]. Risks and Challenges - The company has identified potential risks in its operations and has outlined corresponding mitigation strategies in its report[6]. - Despite significant increases in raw material prices, the company's gross profit margin remained stable due to proactive inventory management and sales strategies[65]. - The company has not indicated any significant changes in the feasibility of its projects[194]. Corporate Changes and Structure - The company has undergone a name change to reflect its broader business scope, now known as Shanghai Phichem Materials Technology Co., Ltd.[32]. - The company completed the cancellation of 127,890 restricted shares, reducing its registered capital from 515.86 million RMB to 515.73 million RMB[33]. - The company holds a total of 388 patents, including 369 invention patents, with 328 additional patents currently under application[53]. - The company has acquired 60% of Changxing Kundi, 100% of Dairui Technology, and 100% of Hecheng Display, strengthening its layout in the electronic chemical materials sector[105].

Financial Performance - The company's operating revenue for Q1 2021 was ¥562,918,701.67, representing a 52.89% increase compared to ¥368,184,656.43 in the same period last year[8]. - Net profit attributable to shareholders for Q1 2021 was ¥68,211,204.30, up 30.22% from ¥52,382,389.07 in the previous year[8]. - Basic and diluted earnings per share for Q1 2021 were both ¥0.13, reflecting a 30.00% increase from ¥0.10 in the previous year[8]. - The company achieved operating revenue of CNY 562.92 million, a year-on-year increase of 52.89% due to increased downstream customer demand[24]. - The net profit attributable to shareholders was CNY 68.21 million, reflecting a year-on-year growth of 30.22%[28]. - The company reported a significant reduction in employee compensation payable, which decreased to CNY 31,859,983.01 from CNY 70,603,230.40, a decline of about 54.91%[81]. - The total comprehensive income for Q1 2021 was CNY 130.73 million, a significant improvement from a loss of CNY 16.14 million in the same quarter last year[106]. Cash Flow and Assets - The net cash flow from operating activities improved significantly to ¥35,444,172.62, a 162.77% increase from a negative cash flow of ¥56,470,065.30 in the same period last year[8]. - The company's cash flow stability was enhanced by increasing long-term financing, including bank loans and leasing borrowings[28]. - The company's cash and cash equivalents decreased to CNY 1.05 billion at the end of Q1 2021, down from CNY 1.12 billion at the end of Q1 2020[113]. - The ending balance of cash and cash equivalents was ¥238,318,137.35, down from ¥434,778,868.36 at the end of the previous period[117]. - Total assets at the end of the reporting period were ¥5,430,794,580.28, a decrease of 1.96% from ¥5,539,431,903.13 at the end of the previous year[8]. - The company's current assets totaled CNY 2,700,180,823.49, down from CNY 2,867,815,393.76 at the end of 2020, indicating a decrease of about 5.84%[75]. Research and Development - R&D expenses increased by 83.20% to CNY 41.17 million, attributed to new product trials and hiring of R&D personnel[24]. - Research and development expenses for Q1 2021 were ¥41,174,593.62, up from ¥22,475,008.19, marking an increase of 83%[96]. - The company is committed to continuous R&D investment to maintain its market leadership and address the evolving demands of downstream industries[34]. Market and Competition - The company is facing intensified competition in the screen display materials, semiconductor materials, and UV curing materials sectors, which may impact profitability if it fails to innovate and manage operations effectively[32]. - The company plans to enhance its marketing efforts and expand into overseas markets while improving the market share of its semiconductor materials and other new products[33]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[105]. Financial Management and Investments - The company plans to issue convertible bonds totaling up to RMB 832 million to enhance capital strength and profitability[49]. - The adjusted total amount for the convertible bond issuance is set at RMB 825 million, with a ticket interest rate ranging from 0.30% to 2.00% over six years[52]. - The company has established a framework for risk prevention measures during the acquisition process to safeguard operational performance[48]. - The company acknowledges potential risks in investment and acquisition processes, including unsuccessful integration and failure to achieve synergies[47]. Operational Changes and Projects - The company has changed the "annual production of 500 kg OLED display materials project" to "annual production of 15 tons OLED terminal display materials sublimation purification project"[55]. - The company has established a wholly-owned subsidiary, Suzhou Kaixin Semiconductor Materials Co., Ltd., with a registered capital of RMB 100 million to enhance its semiconductor materials product line[59]. - The company has committed a total investment of CNY 82,500 million for various projects, with CNY 24,749 million already utilized, representing 30% of the total commitment[63]. Regulatory Compliance - The company received approval from the China Securities Regulatory Commission for the issuance of convertible bonds, indicating regulatory compliance[52]. - The company has not reported any violations regarding external guarantees during the reporting period[67]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[70].