Financial Performance - Operating revenue for the reporting period reached CNY 221,824,365.79, a year-on-year increase of 48.26%[7] - Net profit attributable to shareholders increased by 28.42% to CNY 43,184,851.29 for the reporting period[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 36,137,432.52, up 15.34% year-on-year[7] - Basic earnings per share rose by 28.33% to CNY 0.0838[7] - The weighted average return on net assets was 2.65%, an increase of 0.43% compared to the previous year[7] - The total operating revenue for the third quarter of 2019 was CNY 221,824,365.79, an increase of 48.2% compared to CNY 149,617,577.27 in the same period last year[40] - The net profit for the third quarter was CNY 42,060,882.13, representing a 36.6% increase from CNY 30,802,321.09 in the previous year[41] - The total comprehensive income attributable to the parent company was CNY 44,015,923.02, compared to CNY 34,365,779.13 in the same quarter last year, reflecting a growth of 28.3%[44] - The net profit for the year-to-date period was CNY 127,334,243.85, compared to CNY 105,860,758.44, indicating an increase of 20.2%[49] Assets and Liabilities - Total assets increased by 10.76% to CNY 2,084,978,130.20 compared to the end of the previous year[7] - The company's total liabilities increased by 39.42% to ¥163,372,708.10 due to increased bank loans[18] - Current liabilities increased to ¥327,134,409.35 from ¥232,492,711.37, indicating a rise in short-term obligations[32] - The company's non-current liabilities rose to ¥43,802,588.31, up from ¥5,453,412.01, reflecting increased long-term financial commitments[32] - Total liabilities amounted to CNY 237,946,123.38, with current liabilities at CNY 232,492,711.37[67] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 82,064,325.73, reflecting a 17.71% increase[7] - Cash received from government subsidies increased by 408.16% to ¥59,919,055.99 during the reporting period[20] - The company reported a total cash inflow from operating activities of ¥679,927,383.45, compared to ¥521,506,691.74, an increase of 30.4%[57] - The net cash flow from operating activities was -1,653,358.65 yuan, compared to -86,975,056.01 yuan in the previous period, indicating an improvement[61] - The company received tax refunds amounting to ¥22,885,363.90, up from ¥10,014,789.47, indicating a growth of 128.5%[57] Investments and Expenses - R&D expenses increased by 36.41% to ¥46,387,789.18 due to an increase in personnel and equipment depreciation[20] - Investment income surged by 355.14% to ¥20,561,948.32 from joint ventures and short-term financial management[20] - The company reported a significant increase in investment income, reaching ¥13,182,864.81, a rise of 526.23% compared to the previous period[21] - Research and development expenses for the quarter were CNY 23,613,414.39, up 59.8% from CNY 14,786,418.17 in the previous year[40] - Sales expenses increased to CNY 24,279,835.52 from CNY 20,493,926.74, an increase of 18.5%[47] Shareholder Information - The total number of shareholders at the end of the reporting period was 30,753[11] - Major shareholder Qian Xiaochun holds 27.26% of the shares, with 109,206,431 shares pledged[11] Other Financial Metrics - The company's trading financial assets at the end of the reporting period amounted to ¥287,520,000[18] - Cash and cash equivalents decreased to CNY 41,150,793.30 from CNY 61,653,417.80 at the end of 2018, a decline of 33.4%[35] - The total comprehensive income for the year-to-date period reached CNY 651,436,425.77, up from CNY 512,664,278.55, reflecting a growth of 27.1%[47] - The company reported a cash dividend payment of ¥44,371,527.16, a 53.98% increase compared to the previous period[21]

Financial Performance - Total revenue for the reporting period was CNY 429,612,059.98, an increase of 18.34% compared to the same period last year[18]. - Net profit attributable to shareholders was CNY 87,503,113.19, reflecting an 11.00% increase year-over-year[18]. - Net profit after deducting non-recurring gains and losses was CNY 82,008,846.58, up by 6.36% from the previous year[18]. - The net cash flow from operating activities reached CNY 66,139,830.93, marking a 19.41% increase compared to the same period last year[18]. - Total assets at the end of the reporting period were CNY 1,980,761,706.18, a 5.22% increase from the end of the previous year[18]. - The company's equity attributable to shareholders increased to CNY 1,604,800,955.05, up by 2.75% from the previous year[18]. - Operating costs increased by 23.23% to RMB 261,030,972.18, indicating a rise in production expenses[40]. - The gross margin for LCD photoresist was 56.67%, while PCB photoresist had a gross margin of 38.35%[44]. - Financial expenses surged by 499.87% to RMB 3,190,126.15 due to increased bank loan interest expenses[40]. - The total operating revenue for the first half of 2019 was CNY 429,612,059.98, an increase of 18.3% compared to CNY 363,046,701.28 in the same period of 2018[141]. Research and Development - The company applied for a total of 139 patents, including 28 PCT patents, and received multiple patents from various international patent offices[31]. - The company continues to strengthen its innovation and R&D efforts, aiming to become a global leader in the photopolymer field[30]. - Research and development expenses rose by 23.36% to RMB 22,774,374.79, driven by increased personnel costs and investment in R&D equipment[40]. - The company has established a strong R&D team, ensuring continuous innovation and competitive advantage in the photoresist market[37]. - The company has invested 6% of its revenue in research and development, indicating a strong commitment to innovation in the electronic materials sector[77]. Governance and Compliance - The financial report ensures the accuracy and completeness of the data presented, with key personnel affirming its integrity[3]. - All board members attended the meeting to discuss the report, indicating strong governance and oversight[4]. - The company maintains a commitment to transparency, with information disclosure practices remaining consistent with previous reports[16]. - The company has outlined potential risks and corresponding mitigation strategies in the report, emphasizing proactive management[4]. - The company has obtained various certifications, including environmental management and safety production licenses, to address safety and environmental risks associated with its operations[77]. Market Position and Strategy - The company holds a dominant market position in PCB photoresist materials, benefiting from the ongoing transfer of the PCB industry to mainland China[25]. - The company maintained strong customer relationships with major clients including Samsung SDI and JSR, ensuring stable demand for its products[33]. - The company plans to expand its market presence and reduce the risk of declining profitability by actively developing new markets and clients[77]. - The company is focusing on market expansion and product development, as indicated by the increase in both revenue and R&D spending[146]. Assets and Liabilities - Cash and cash equivalents decreased by 24.41% to ¥150,732,727.3, down from ¥591,305,967.00, primarily due to the absence of non-public stock issuance funds received in the previous year[49]. - Inventory increased by 53.12% to ¥255,434,690.8, up from ¥166,650,216.30, as the company raised safety stock levels to ensure supply continuity for customers[49]. - Long-term equity investments reached ¥105,121,554.9, representing a 5.31% increase, attributed to new investments in companies such as Changsha Xinyu and Green Sensitivity[49]. - The total liabilities rose to CNY 266,306,861.26 from CNY 232,492,711.37, reflecting an increase in short-term borrowings and accounts payable[133]. - The company's cash and cash equivalents decreased to CNY 150,732,727.30 from CNY 211,355,001.84, indicating a decline in liquidity[131]. Shareholder Information - The total number of shares before the change was 271,185,994, which decreased to 515,253,388 after the change, reflecting a significant increase in total shares[110]. - The earnings per share (EPS) decreased from 0.3227 to 0.1698, indicating a decline of approximately 47.4%[110]. - The diluted earnings per share also fell from 0.3227 to 0.1698, mirroring the same decline in EPS[110]. - The total number of shareholders at the end of the reporting period was 19,621[115]. - The company plans to release 25% of the locked shares annually for major shareholders, with restrictions on total share reductions[112]. Environmental and Social Responsibility - The company is classified as a key pollutant discharge unit, with wastewater and air emissions meeting regulatory standards[102][104]. - The company has implemented effective pollution prevention measures, including a rainwater and wastewater separation system[103]. - The company has established an emergency response plan for environmental incidents, which has been reviewed and filed with the environmental protection department[104]. - The company has not initiated any poverty alleviation programs in the reporting period and has no subsequent plans[105]. Financial Reporting and Accounting - The financial report for the first half of 2019 was not audited, which may affect the reliability of the financial data presented[129]. - The financial statements were prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring a true and complete reflection of the company's financial status[177]. - The company uses RMB as its functional currency for accounting purposes[180]. - The company adopts the equity method for accounting treatment of mergers under common control, measuring assets and liabilities at the book value in the consolidated financial statements of the ultimate controlling party[181].

Financial Performance - The company's operating revenue for 2018 was CNY 739,083,610.12, representing a 15.49% increase compared to CNY 639,954,962.08 in 2017[23]. - The net profit attributable to shareholders for 2018 was CNY 146,556,470.86, up 15.77% from CNY 126,590,925.89 in 2017[23]. - The net cash flow from operating activities increased by 29.07% to CNY 111,605,525.93 in 2018 from CNY 86,467,606.26 in 2017[23]. - The total assets at the end of 2018 reached CNY 1,882,459,731.74, a 46.75% increase from CNY 1,282,754,278.15 at the end of 2017[23]. - The company reported a basic earnings per share of CNY 0.5523 for 2018, reflecting a 12.21% increase from CNY 0.4922 in 2017[23]. - The weighted average return on equity for 2018 was 10.95%, down from 12.52% in 2017[23]. - Operating costs for 2018 were ¥443,181,706.98, reflecting a year-on-year increase of 17.80%[48]. - The company reported a gross margin of 40.12% for electronic chemical sales, a decrease of 1.15% from the previous year[54]. Research and Development - The company reported a research and development investment accounting for 6% of its operating revenue, indicating a strong commitment to innovation despite potential risks to profitability[10]. - The company has accumulated substantial independent intellectual property rights, which helps mitigate risks in new product development[6]. - The company is focused on continuous product innovation to adapt to the evolving demands of the electronic materials industry[6]. - The company has applied for a total of 126 patents in China, including 28 PCT patents, and has received multiple patents from various international patent offices[39]. - The company has established a strong R&D team, focusing on continuous innovation and development of leading products in the photoresist chemical field[45]. - The company's R&D expenditure in 2018 was ¥48,552,080.34, representing a 24.90% increase compared to 2017, and accounting for 6.57% of total revenue[65]. Market and Sales - The market share of the company's PCB photoresist specialty chemicals is steadily increasing as the PCB industry continues to shift towards mainland China[33]. - The sales of electronic chemicals accounted for 99.31% of total revenue, with a year-on-year growth of 15.02%[52]. - Domestic sales contributed ¥407,575,582.36, representing 55.15% of total revenue, with an 18.18% increase year-on-year[52]. - The company has become a major supplier of LCD photoresist materials, breaking the monopoly of multinational companies like BASF[40]. - The company maintains stable relationships with major clients such as Hitachi Chemical and Samsung SDI, ensuring long-term partnerships[41]. Risk Management - The company is facing risks related to long project construction cycles, which now take approximately 2-3 years due to increased environmental and safety regulations[9]. - The company aims to minimize the risk of declining profitability by actively developing new markets and controlling operational cost increases[10]. - The company emphasizes the importance of communication with government departments to shorten project approval times and enhance planning efforts[9]. - The company has established an EHS department to effectively manage safety and environmental risks associated with the use of various chemicals in production[7]. - The company is facing risks related to high technical barriers in the electronic materials industry, particularly in PCB processing and semiconductor manufacturing[95]. Environmental Compliance - The company has received multiple certifications for its environmental management and safety standards, demonstrating its commitment to safety and compliance[7]. - The company has implemented environmental protection measures, including a wastewater treatment system that meets the GB8978-1996 standard with a discharge of 4.6 tons/year of COD[143]. - The company’s waste gas emissions of nitrogen oxides are at 2.47 tons/year, compliant with the GB16297-1996 standard[143]. - The company’s solid waste disposal is managed by qualified units, ensuring compliance with environmental regulations[143]. - The company has established an emergency response plan for environmental incidents, which has been reviewed and filed with the environmental protection department[143]. Profit Distribution - The profit distribution plan approved by the board proposes a cash dividend of 1.50 RMB per 10 shares, with a capital reserve conversion of 9 shares for every 10 shares held[10]. - The company declared a cash dividend of CNY 1.50 per 10 shares, totaling CNY 40,677,899.10 for the year 2018[103]. - The total distributable profit for the year was CNY 135,606,402.66, with cash dividends accounting for 100% of the profit distribution[103]. - The cash dividend for 2018 represented 27.76% of the net profit attributable to ordinary shareholders, which was CNY 146,556,470.86[105]. - The company maintained a consistent dividend policy, with cash dividends of CNY 2.20 per 10 shares in 2015 and CNY 1.00 per 10 shares in both 2016 and 2017[104]. Governance and Compliance - The company has fulfilled its commitments during the reporting period and as of the end of the reporting period, no commitments remain unfulfilled[106]. - The company and its directors have not faced any administrative penalties from the China Securities Regulatory Commission in the last 16 months[106]. - No public reprimands from the stock exchange have been received by the company or its executives in the last 12 months[106]. - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of its stock listing[106]. - The company has established a clear framework for penalties related to share transfer violations, including daily fines for late payments[107]. Shareholder Structure - Major shareholder Qian Xiaochun holds 28.26% of the shares, totaling 76,636,092 shares, with 13,559,300 shares pledged[158]. - Major shareholder Guan Jun holds 18.50% of the shares, totaling 50,181,625 shares, with 12,545,406 shares pledged[158]. - The company has a stable ownership structure with no changes in actual control[162]. - The total shares held by directors, supervisors, and senior management at the end of the period amounted to 5,569,858 shares, down from 7,187,182 shares at the beginning of the period, indicating a reduction of approximately 22.5%[167]. Management and Employees - The total number of employees in the company is 1,110, with 254 in the parent company and 856 in major subsidiaries[180]. - The company has a total of 751 production personnel, 39 sales personnel, 176 technical personnel, 17 financial personnel, and 127 administrative personnel[180]. - The company aims to maintain a competitive salary level above the industry average to attract and retain top talent[181]. - The company has implemented a comprehensive reform of its salary performance system based on market demand and different job levels[181]. - The company has established a comprehensive performance evaluation system for senior management, linking their performance directly to compensation[188]. Audit and Financial Reporting - The company has not experienced any non-standard audit reports during the reporting period[117]. - The company has ensured that all commitments made to minority shareholders have been fulfilled on time[115]. - The company reported a significant change in its financial reporting policies due to the issuance of new financial statement formats by the Ministry of Finance on June 15, 2018, which affected the preparation of the 2018 annual financial statements[118]. - The company has adjusted its financial statements in accordance with the new accounting policies adopted during the reporting period[118]. - The company has appointed Jiangsu Suya Jincheng Accounting Firm as its auditor, with an audit fee of 700,000 RMB and a continuous service period of 10 years[120].

Financial Performance - Total revenue for Q1 2019 was ¥183,839,389.25, representing a 9.72% increase compared to ¥167,554,832.31 in the same period last year[7]. - Net profit attributable to shareholders decreased by 10.18% to ¥33,027,842.91 from ¥36,771,501.51 year-on-year[7]. - Net profit excluding non-recurring gains and losses fell by 18.14% to ¥29,151,288.67 compared to ¥35,613,005.54 in the previous year[7]. - Basic earnings per share decreased by 14.83% to ¥0.1218 from ¥0.1430 year-on-year[7]. - The net profit attributable to the parent company was CNY 33,027,842.91, a decline of 10.1% from CNY 36,771,501.51 in the same quarter last year[40]. - The total comprehensive income for the period was CNY 32,092,364.93, down 10.0% from CNY 35,927,473.34 year-over-year[40]. - The total profit for the period was CNY 38,382,498.65, down 9.0% from CNY 42,134,782.19 year-over-year[39]. - The company's operating profit for Q1 2019 was CNY 38,202,731.34, a decrease of 7.5% compared to CNY 41,585,172.84 in the previous year[39]. Cash Flow - Net cash flow from operating activities increased by 26.13% to ¥34,170,457.18 from ¥27,090,570.23 in the same period last year[7]. - Cash received from operating activities increased by 307.31% to ¥10,271,009.00, mainly due to the receipt of project bidding deposits[16]. - The net cash flow from operating activities was 34,170,457.18 CNY, an increase from 27,090,570.23 CNY in the previous period, representing a growth of approximately 26.5%[47]. - The total cash inflow from operating activities was 79,232,415.55 CNY, significantly higher than 26,651,845.02 CNY in the previous period[50]. - The cash outflow for operating activities totaled 83,329,669.98 CNY, compared to 40,079,278.21 CNY in the previous period, indicating an increase of approximately 107.5%[51]. - The company experienced a net decrease in cash and cash equivalents of -61,204,758.17 CNY, contrasting with an increase of 8,160,241.84 CNY in the previous period[52]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,939,533,831.20, a 3.03% increase from ¥1,882,459,731.74 at the end of the previous year[7]. - The total liabilities increased to CNY 105,694,332.26 in Q1 2019 from CNY 67,597,002.65 in the previous year, indicating a rise in financial obligations[36]. - The company's total liabilities reached CNY 237,946,123.38, while total equity was CNY 1,644,513,608.36[55]. - The company's total assets as of March 31, 2019, were CNY 1,289,400,145.87, compared to CNY 1,248,201,179.61 at the end of 2018, reflecting a growth in asset base[36]. - The total non-current assets increased from RMB 967,815,689.55 to RMB 1,049,192,201.41[30]. - Current liabilities totaled CNY 232,492,711.37, including short-term borrowings of CNY 117,183,348.91[55]. Investment and Financing - The company reported an investment income of CNY 6,028,309.25, significantly higher than CNY 832,977.78 in the same period last year, reflecting improved investment performance[37]. - Interest expenses surged by 713.01% to ¥1,061,609.09, primarily due to increased borrowing to supplement working capital[16]. - The company’s short-term loans increased by 38.37% to ¥162,150,513.07, indicating a strong reliance on bank financing[16]. - The company’s cash flow from financing activities decreased by 36.10% to ¥45,000,000.00, reflecting reduced borrowing compared to the previous year[17]. - The total amount of raised funds is RMB 378,631,698.11, with RMB 132,513,858.12 already invested by March 31, 2019[23]. Shareholder Information - The top shareholder, Qian Xiaochun, holds 28.26% of the shares, with 63,076,792 shares pledged[11]. - The company did not engage in any repurchase transactions during the reporting period[12]. - The total equity attributable to shareholders rose to CNY 1,183,705,813.61 from CNY 1,180,604,176.96, showing stability in shareholder value[36]. Research and Development - The R&D expenses for Q1 2019 were CNY 8,927,041.03, slightly down from CNY 9,285,959.89 in the previous year, indicating a focus on cost management in innovation[37]. - The company incurred research and development expenses of CNY 2,759,617.40, slightly up from CNY 2,681,007.27 in the previous year[42]. Government Support - The company received government subsidies amounting to ¥1,165,000.00 during the reporting period[8].

Financial Performance - Operating revenue for the current period was CNY 149,617,577.27, a decrease of 5.30% year-on-year[7] - Net profit attributable to shareholders for the current period was CNY 33,626,550.17, an increase of 4.44% year-on-year[7] - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 31,330,662.95, an increase of 3.18% year-on-year[7] - Basic earnings per share for the current period was CNY 0.1240, a decrease of 0.96% year-on-year[7] - Weighted average return on equity for the current period was 2.23%, a decrease of 1.08% year-on-year[7] - The company reported a net profit of 4,517,736.84 CNY, an increase of 104.31% compared to the previous year, driven by higher investment income from self-owned funds and raised funds[20] - Net profit for the quarter was CNY 30,802,321.09, down 6.7% from CNY 33,022,144.68 in the same period last year[40] - The company reported an investment income of CNY 3,197,835.62, a significant increase from CNY 386,199.21 in the previous period[40] - The company reported a total comprehensive income of ¥107.95 million, slightly down from ¥108.56 million in the previous period[49] Assets and Liabilities - Total assets increased by 43.96% to CNY 1,846,656,302.25 compared to the end of the previous year[7] - Net assets attributable to shareholders increased by 44.01% to CNY 1,528,144,298.49 compared to the end of the previous year[7] - The company's total liabilities increased to CNY 235,023,433.26 from CNY 166,347,154.31, which is an increase of about 41.2%[33] - Shareholders' equity grew to CNY 1,611,632,868.99 from CNY 1,116,407,123.84, reflecting an increase of approximately 44.4%[33] - Current assets reached CNY 943,959,074.95, up from CNY 486,104,294.26, indicating an increase of about 94%[31][33] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 69,719,987.58, a decrease of 18.94%[7] - The net cash flow from operating activities was -86,975,056.01, compared to 33,343,030.15 in the previous period, indicating a significant decline in operational cash generation[58] - Cash inflow from investment activities totaled 959,988,579.20, up from 616,083,645.35 in the previous period, reflecting increased investment recovery[58] - The net cash flow from financing activities was 435,335,990.53, compared to -12,807,672.96 in the previous period, showing a strong improvement in financing cash inflows[59] Investments and Expenditures - The company plans to acquire a 34.49% stake in Changsha Xinyu Polymer Technology Co., Ltd. through a capital increase of 60 million CNY and a share purchase for 24.49 million CNY[22] - Cash outflow for purchasing fixed assets and intangible assets was 159,930,275.90, compared to 56,788,174.38 in the previous period, indicating increased capital expenditures[55] - Research and development expenses amounted to 34,005,198.12 CNY, reflecting a 35.12% increase due to the hiring of more R&D personnel and higher average salaries[20] - Research and development expenses increased significantly to CNY 14,786,418.17, up 72% from CNY 8,598,046.59[38] Market and Strategic Focus - The company is focused on expanding its market presence and enhancing product development capabilities[17] - The company plans to continue expanding its market presence and invest in new technologies to drive future growth[40] - The company reported a significant decrease in cash received from tax refunds, down 47.57% to 10,014,789.47 CNY, due to reduced export tax rebates[20] Shareholder Information - The total number of shareholders at the end of the reporting period was 7,649[11] - The company distributed a cash dividend of 1.00 CNY per share, totaling 25,718,599.40 CNY, in accordance with its profit distribution plan[24]

Financial Performance - Total operating revenue for the reporting period reached ¥363,046,701.28, an increase of 15.58% compared to ¥314,100,941.98 in the same period last year[18]. - Net profit attributable to shareholders of the listed company was ¥78,833,687.45, reflecting a growth of 6.24% from ¥74,204,371.50 year-on-year[18]. - Net profit after deducting non-recurring gains and losses was ¥77,106,033.50, up 14.34% from ¥67,438,197.51 in the previous year[18]. - Net cash flow from operating activities amounted to ¥55,387,347.74, representing a 22.31% increase from ¥45,283,073.60 in the same period last year[18]. - Basic earnings per share were ¥0.3038, a rise of 5.30% compared to ¥0.2885 in the previous year[18]. - The company's operating costs increased to CNY 211,816,889.04, reflecting a year-on-year growth of 15.14%[43]. - Research and development expenses rose to CNY 18,461,354.89, marking an increase of 11.42% compared to the previous year due to an increase in R&D personnel[43]. - The company's sales expenses increased by 40.58% to CNY 13,057,365.52, primarily due to higher service and transportation costs for new materials[43]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,846,779,782.68, an increase of 43.97% from ¥1,282,754,278.15 at the end of the previous year[18]. - Net assets attributable to shareholders of the listed company reached ¥1,493,778,519.36, up 40.77% from ¥1,061,151,954.29 at the end of the previous year[18]. - The total liabilities rose to CNY 288,748,178.87, compared to CNY 166,347,154.31 at the beginning of the period, indicating increased leverage[138]. - The company's current assets totaled CNY 985,091,256.29, up from CNY 486,104,294.26 at the start of the period, indicating a significant growth in liquidity[137]. - Cash and cash equivalents increased to CNY 591,305,967.00 from CNY 107,715,001.31, reflecting a substantial improvement in cash flow[136]. Investment and Financing Activities - The net cash flow from investing activities decreased significantly by 287.34% to -¥99,452,449.05, attributed to increased expenditures on self-owned financial management and construction projects[46]. - The net cash flow from financing activities surged by 1,631.76% to ¥519,095,082.66, mainly due to the increase in non-public stock issuance and short-term borrowings[46]. - The company's cash and cash equivalents increased by 655.26% to ¥475,610,907.32, driven by the aforementioned financing activities[46]. - The total amount of raised funds is CNY 537.66 million, with CNY 32.10 million invested during the reporting period[57]. - The company has a remaining balance of CNY 377.92 million in raised funds, with CNY 83.52 million allocated for asset acquisition[57]. Research and Development - The company has a total of 64 authorized patents in the OLED materials sector and plans to increase R&D and production investments[28]. - The company has established a professional R&D team with rich industry experience, ensuring continuous improvement in technological innovation capabilities[41]. - The company has increased R&D investment to 6% of operating revenue to adapt to market demands and mitigate risks associated with new product development[72]. - The company is focusing on research and development of new high-performance polymer materials and photolithography agents[173]. Strategic Partnerships and Market Position - The company has established a strategic partnership with LG Chem to set up an OLED materials evaluation laboratory in Chengdu[29]. - The company has commercialized the production of semiconductor KrF photoresist chemical intermediates, with major clients including Toyo Gosei and JSR[25]. - The company has become a major supplier of LCD photoresist materials, breaking the monopoly of multinational companies like BASF[25]. - The company’s PCB photoresist materials market share is steadily increasing as the PCB industry continues to shift to mainland China[24]. Corporate Governance and Compliance - The board of directors has ensured the accuracy and completeness of the financial report, taking legal responsibility for any misrepresentation or omissions[3]. - The semi-annual financial report for 2018 has not been audited[82]. - The company did not experience any penalties or rectification situations during the reporting period[85]. - The company has no violations regarding external guarantees during the reporting period[98]. Shareholder and Stock Management - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company committed to a stock repurchase plan, with a total amount not exceeding the net proceeds from its initial public offering[78]. - The controlling shareholder is required to submit a stock purchase plan within 5 working days upon triggering the stock price stabilization conditions[78]. - The company will hold a shareholders' meeting within 30 days after the board resolution to approve the stock repurchase[78]. Environmental and Safety Management - The company has established an EHS department to effectively manage safety and environmental risks associated with the use of various chemicals in production[71]. - The company is classified as a key pollutant discharge unit, with wastewater emissions of 4.6 tons/year for COD and 0.14 tons/year for ammonia nitrogen, both within the regulatory limits[100][101].

Financial Performance - Total revenue for Q1 2018 was CNY 167,554,832.31, representing a 24.45% increase compared to CNY 134,632,971.13 in the same period last year[7]. - Net profit attributable to shareholders was CNY 36,771,501.51, up 23.89% from CNY 29,679,764.15 year-on-year[7]. - Basic earnings per share increased to CNY 0.1430, reflecting a growth of 23.92% compared to CNY 0.1154 in the previous year[7]. - Cash received from sales of goods and services was CNY 163,500,853.29, representing a 35.77% increase year-on-year due to higher sales revenue[26]. - Cash received from other operating activities was CNY 2,521,662.83, a significant increase of 414.41% year-on-year, mainly from government subsidies[26]. - The total operating revenue for the first quarter of 2018 was CNY 167,554,832.31, an increase from CNY 134,632,971.13 in the previous period[53]. - The net profit for the first quarter was CNY 34,895,550.44, up from CNY 29,724,408.88 year-over-year[54]. - The total comprehensive income for Q1 2018 was CNY 35,927,473.34, compared to CNY 29,641,213.18 in the same period last year, indicating a growth of 21.5%[58]. Assets and Liabilities - The company's total assets reached CNY 1,386,696,095.02, an 8.10% increase from CNY 1,282,754,278.15 at the end of the previous year[7]. - The company's cash and cash equivalents at the end of the period amounted to ¥151,832,726.18, an increase of 40.96% compared to the beginning of the year, primarily due to fewer maturing financial products than at the end of the previous year[20]. - The total liabilities increased to CNY 221,961,497.84 from CNY 166,347,154.31[48]. - The equity attributable to the parent company reached CNY 1,098,579,763.56, compared to CNY 1,061,151,954.29 in the previous period[48]. - The company's inventory increased to 167,214,670.59 yuan from 146,436,840.01 yuan at the beginning of the period[45]. Cash Flow - The net cash flow from operating activities was CNY 27,090,570.23, which is a 20.86% increase from CNY 22,414,311.82 in the same period last year[7]. - The company reported a cash outflow of CNY 78,004,700.08 for the purchase of fixed assets, an increase of 336.12% year-on-year, attributed to project progress and land prepayments[27]. - Investment activities resulted in a net cash outflow of CNY 48,461,722.30, compared to a net inflow of CNY 25,718,968.76 in the previous year[62]. - The financing activities generated a net cash inflow of CNY 67,696,260.18, compared to a net outflow of CNY 34,611.50 in the same period last year[62]. - The net increase in cash and cash equivalents for the current period was $8,160,241.84, down from $28,896,471.43 in the previous period[66]. Expenses - Sales expenses amounted to CNY 5,546,878.03, up 49.45% year-on-year, primarily due to increases in labor, transportation, and insurance costs[23]. - Management expenses were CNY 22,343,438.73, a rise of 56.80% compared to the previous year, driven by higher labor costs, intangible asset amortization, consulting fees, and R&D expenses[23]. - The total operating costs amounted to CNY 126,859,607.72, compared to CNY 99,456,146.24 in the prior period[53]. Risks and Challenges - The company faces risks in new product development due to high industry technical barriers and the need for increased R&D efforts[9]. - Customer certification cycles pose a risk, as products must be adopted from the R&D stage and cannot be easily switched mid-process[9]. - The construction cycle for new projects has lengthened to approximately 2.5 to 3 years due to stricter government regulations[10]. - The company is focused on market expansion and new customer development to mitigate risks associated with increased investment and R&D costs[10]. Other Information - The company emphasizes safety and environmental protection, having obtained multiple certifications to mitigate risks associated with hazardous materials[10]. - The company has a balance of unused raised funds of 31,241,604.04 yuan, with 30,000,000.00 yuan in structured deposits and 780,000.00 yuan in wealth management products[37]. - The company has committed to using no more than 32 million yuan of temporarily idle raised funds for cash management, with a rolling usage period of up to 12 months[37]. - The company reported a total amount of funds raised in the current quarter is 15,902.87 million yuan, with a cumulative investment of 13,005 million yuan, representing 85.00% of the committed investment projects[36]. - The company’s first-quarter report was not audited[67].

Product Development and Market Risks - The company faced risks in new product development due to high technical barriers in the industry, necessitating increased R&D efforts to meet market demands[5]. - Customer certification cycles pose a significant risk, as products must be adopted from the R&D stage, making it difficult to switch suppliers mid-process[5]. - The company has a high market share, which helps mitigate risks associated with customer certification cycles by simultaneously submitting samples for certification[5]. - Increased investment scale and R&D expenditures may lead to a decline in profitability if new product promotions do not progress smoothly[6]. - The company plans to develop new markets and clients to minimize the risk of declining profitability[6]. - The company plans to continue focusing on R&D and expanding its market presence to maintain its competitive edge in the industry[45]. - The company aims to minimize the risk of declining profitability due to increased investment and R&D costs by exploring new markets and clients[88]. Financial Performance - The company's operating revenue for 2017 was approximately ¥639.95 million, representing a 45.58% increase compared to ¥439.58 million in 2016[21]. - The net profit attributable to shareholders for 2017 was approximately ¥126.59 million, a 9.12% increase from ¥116.02 million in 2016[21]. - The net profit after deducting non-recurring gains and losses was approximately ¥120.63 million, reflecting a 19.60% increase from ¥100.86 million in 2016[21]. - The total assets at the end of 2017 amounted to approximately ¥1.28 billion, a 17.59% increase from ¥1.09 billion at the end of 2016[21]. - The company's basic earnings per share for 2017 was ¥0.4922, up 6.68% from ¥0.4614 in 2016[21]. - The company reported a net cash flow from operating activities of approximately ¥86.47 million, a decrease of 13.76% from ¥100.26 million in 2016[21]. - The company’s total net assets attributable to shareholders at the end of 2017 were approximately ¥1.06 billion, a 10.34% increase from ¥961.68 million at the end of 2016[21]. - The company achieved a net profit of ¥48,002,300.37 for the year 2017, with a legal reserve of 10% amounting to ¥4,800,230.04[98]. Investment and R&D - Research and development expenses rose to CNY 38,873,054.87, a 46.60% increase year-on-year, driven by higher material and personnel costs[45]. - The R&D department is focusing on developing new electronic materials, with an investment of 100 million RMB allocated for the next two years[165]. - The company has built a strong R&D team with extensive industry experience, ensuring continuous innovation and development of new products[41]. - The company has established partnerships with three major universities for collaborative research projects, enhancing its innovation capabilities[165]. Shareholder Returns and Dividends - A cash dividend of 1.00 RMB per 10 shares (including tax) was proposed, with no bonus shares issued[7]. - The cash dividend accounted for 100% of the total profit distribution for the year, reflecting a strong commitment to shareholder returns[97]. - The total distributable profit for shareholders in 2017 was ¥140,113,038.62, with a cash dividend of ¥1.00 per 10 shares, totaling ¥25,718,599.40 distributed[98]. - The cash dividend for the 2016 fiscal year was set at ¥1.00 per 10 shares, totaling ¥25,718,599.40 distributed to shareholders[93]. Corporate Governance and Compliance - The company has committed to fulfilling all promises made regarding the accuracy and completeness of information provided during transactions[102]. - The company has not faced any administrative penalties from the China Securities Regulatory Commission in the past 36 months[102]. - The company has established a penalty mechanism for breaches of share transfer commitments, calculated at 70% of the value of the shares held prior to public issuance[103]. - The company has committed to a lock-up period for its shares, which will automatically extend by 6 months if the stock price falls below the net asset value for 20 consecutive trading days[104]. - The company has established measures to monitor the implementation of these stock price stabilization strategies[105]. Operational Performance and Market Position - The company is a major supplier of PCB photoresist chemicals and has successfully entered the LCD photoresist market, breaking the monopoly of multinational companies[36]. - The company maintains stable relationships with major clients such as Taiwan Changxing Chemical and Japan Asahi Kasei, which enhances its competitive edge in the market[38]. - The company has developed a strong technical service capability, allowing it to respond quickly to customer needs and improve its market share[39]. - The company has established a competitive advantage through its advanced purification and evaluation technologies, crucial for producing high-quality photoresist materials[40]. Employee and Talent Management - The total number of employees in the company is 912, with 219 in the parent company and 693 in major subsidiaries[175]. - The company has established a comprehensive training plan for new and existing employees to enhance overall skill levels[177]. - The total remuneration for directors and senior management during the reporting period amounts to 5,907,900 CNY[175]. - The company maintains a competitive salary level positioned above the industry average to attract and retain talent[176]. Social Responsibility and Community Engagement - The company emphasizes its commitment to social responsibility, focusing on economic and social benefits while protecting the rights of small investors[136]. - The company is actively engaged in social welfare initiatives and supports public welfare projects[136]. - The company adheres strictly to environmental protection laws and has no violations reported during the reporting period[139].

Financial Performance - Net profit attributable to shareholders decreased by 16.55% to CNY 32,197,405.04 for the current period[7] - Operating revenue rose by 9.30% to CNY 157,995,905.48 for the current period[7] - Net profit attributable to shareholders after deducting non-recurring gains and losses increased by 21.09% to CNY 97,803,343.54 year-to-date[7] - Basic earnings per share decreased by 18.44% to CNY 0.1252 for the current period[7] - The weighted average return on equity decreased by 2.49% to 3.31% for the current period[7] - The company's total revenue for the third quarter was CNY 472,096,847.46, an increase of 45.77% compared to the same period last year[23] - The net profit for the third quarter increased significantly, driven by the acquisition of Jia Ying Guang and the investment in Xian Xian Chemical, which contributed to the revenue growth[23] - The company's total operating revenue for Q3 2017 was CNY 157,995,905.48, an increase from CNY 144,557,620.72 in the previous period[55] - Net profit for the period was CNY 33,022,144.68, compared to CNY 38,493,158.08 in the same period last year, reflecting a decrease of approximately 14.3%[56] - The net profit attributable to shareholders of the parent company was CNY 32,197,405.04, down from CNY 38,582,777.33[56] Assets and Liabilities - Total assets increased by 7.83% to CNY 1,176,337,055.63 compared to the end of the previous year[7] - Cash and cash equivalents at the end of the period amounted to CNY 132,994,262.50, representing a 71.10% increase from the beginning of the year[18] - Accounts receivable increased by 47.95% to CNY 91,678,558.44, reflecting the growth in sales revenue[18] - The company's construction in progress increased by 336.11% to CNY 48,029,547.87, due to ongoing projects at the company and its subsidiary[19] - The company's total liabilities decreased to 119,206,585.84 yuan from 128,905,994.16 yuan, a reduction of about 7.0%[49] - The company's total equity was CNY 765,195,362.39, down from CNY 781,838,529.01[53] Cash Flow - Cash flow from operating activities increased by 17.17% to CNY 86,006,086.77 year-to-date[7] - Cash received from sales of goods and services was ¥419,632,076.44, an increase of 41.38% compared to the same period last year, primarily due to increased sales revenue and the inclusion of cash from acquired subsidiaries[29] - Cash paid for purchases of goods and services was ¥215,081,254.89, an increase of 55.09% year-on-year, driven by expanded production scale and the inclusion of cash from acquired subsidiaries[29] - Cash paid to employees was ¥61,817,543.38, up 39.12% from the previous year, mainly due to higher year-end bonuses and increased labor costs from expanded production[30] - Cash recovered from investments decreased by 48.57% to ¥746,096,571.00, primarily due to reduced redemption amounts from financial products[31] - The cash inflow from operating activities totaled CNY 446,954,252.54, an increase of 39.5% compared to CNY 320,386,712.41 in the previous period[71] Shareholder Information - The total number of shareholders at the end of the reporting period was 14,158[11] - The largest shareholder, Qian Xiaochun, holds 29.80% of the shares[11] - The company reported a cash dividend distribution of 25,718,599.40 yuan, equivalent to 1.00 yuan per 10 shares, in accordance with the 2016 profit distribution plan[39] Non-Recurring Items - The company reported non-recurring gains of CNY 8,598,433.00 during the reporting period[9] - The company reported a significant increase in other comprehensive income, which rose by 112.33% to CNY 447,595.54, due to currency fluctuations[22] - The company experienced a decrease in investment income by 38.38% to CNY 2,211,212.47, due to losses from long-term equity investments[26] Operational Challenges - The subsidiary, Jia Ying, is currently under production suspension for rectification due to safety and environmental issues, which may significantly impact its performance if not resolved soon[34]

Financial Performance - Total operating revenue for the first half of 2017 reached ¥314,100,941.98, representing a 75.18% increase compared to ¥179,306,603.80 in the same period last year[19]. - Net profit attributable to shareholders of the listed company was ¥74,204,371.50, up 32.49% from ¥56,009,578.81 year-on-year[19]. - Net profit after deducting non-recurring gains and losses was ¥67,438,197.51, reflecting a 50.58% increase from ¥44,784,405.16 in the previous year[19]. - Basic earnings per share rose to ¥0.2885, a 27.43% increase from ¥0.2264 in the previous year[19]. - The company reported a net cash flow from operating activities of ¥45,283,073.60, a 10.30% increase from the previous year[42]. - The company achieved total revenue of ¥314,100,941.98 in the first half of 2017, representing a 75.18% increase compared to the same period last year[39]. - The net profit for the first half of 2017 reached CNY 75,303,907.22, representing a 34.9% increase from CNY 55,801,797.49 in the previous year[148]. - The profit attributable to the parent company's shareholders was CNY 74,204,371.50, compared to CNY 56,009,578.81 in the same period last year, marking a 32.5% increase[149]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,151,730,017.29, a 5.58% increase from ¥1,090,896,499.27 at the end of the previous year[19]. - The total amount of raised funds was ¥43,295.87 million, with ¥39,560.61 million already invested, and an unused balance of ¥30,173,266.51[57]. - The total liabilities decreased slightly to CNY 127,728,635.10 from CNY 128,905,994.16, indicating a reduction of approximately 0.9%[140]. - The total equity of the company was CNY 759,705,310.05, slightly down from CNY 781,838,529.01, a decrease of 2.8%[148]. - The total liabilities at the end of the reporting period were CNY 62,010,000.00, indicating a manageable debt level[162]. Research and Development - The company continues to invest in innovation and R&D, enhancing its competitive edge in the electronic chemical materials market[29]. - Research and development expenses increased by 52.66% to ¥16,569,254.95, driven by rising costs for materials, personnel, and patent applications[42]. - The company has established a composite R&D team with strong industry experience and capabilities, ensuring continuous technological innovation[36]. - The company is engaged in research and development of new electronic materials, which is crucial for maintaining competitive advantage in the market[173]. Market Position and Customer Relationships - The company maintains a stable customer base, including major clients such as Taiwan Chang Hsing Chemical and Japan Asahi Kasei, which have established long-term relationships due to high switching costs[31]. - The company has established a strong position in the LCD photoresist market, breaking the monopoly of multinational companies and filling a domestic gap[30]. - The company holds a high market share in the industry and mitigates certification cycle risks by simultaneously submitting samples for certification to most clients[73]. - The company has a strong customer stickiness due to the necessity of integrating products into the client's supply chain from the R&D stage, which reduces the risk of mid-cycle product switching[73]. Risks and Challenges - The company faces risks related to new product development, customer certification cycles, and long construction periods for new projects[5]. - The construction cycle for new projects has extended to approximately 2.5 to 3 years due to increasing environmental and safety regulations, which poses a risk to project timelines[74]. - The company is facing risks of declining profitability due to increased investment scale and R&D expenditures, with a focus on minimizing operational cost increases[74]. - The company plans to develop new markets and continuously explore and develop new clients to mitigate the risk of declining profitability[74]. Dividend and Shareholder Commitments - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company will not distribute cash dividends or issue bonus shares for the half-year period[78]. - The company has committed to not transferring more than 25% of their shares during their tenure as directors and senior management, and will not transfer shares within six months after leaving their positions[81]. - The company has committed to ensuring that any share reduction will not exceed 5% of the total shares within two years after the lock-up period[82]. Compliance and Governance - The company has not engaged in any entrusted financial management, derivative investments, or entrusted loans during the reporting period[65][66][67]. - The company has not sold any significant assets or equity during the reporting period[68][69]. - The company emphasizes the importance of compliance with regulations to avoid penalties from government authorities[90]. - The company has a legal obligation to compensate investors for losses caused by violations of the stabilization commitments[84]. Financial Reporting and Audit - The financial report for the first half of 2017 was not audited, which may impact the reliability of the financial data presented[136]. - The company did not conduct an audit for the semi-annual financial report[93]. - The company’s financial statements prepared comply with the requirements of the accounting standards, reflecting the financial position, operating results, and cash flows accurately[179].