Financial Performance - The company reported a revenue of 131.05 million yuan in 2020, a decrease of 60.74% year-on-year[7]. - The net loss attributable to the company for 2020 was 25.17 million yuan, with a significant decline in sales revenue from its main products, thermal sensitive magnetic tickets, down by 76.20%[8]. - The company’s operating revenue for 2020 was ¥131,049,777.63, a decrease of 60.74% compared to ¥333,817,455.11 in 2019[41]. - The net profit attributable to shareholders for 2020 was -¥25,172,866.50, representing a decline of 121.84% from ¥115,982,148.21 in 2019[41]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥42,374,347.80, down 144.11% from ¥96,801,815.40 in 2019[41]. - The cash flow from operating activities was ¥38,890,892.60, a decrease of 56.45% compared to ¥89,709,952.20 in 2019[41]. - The total assets at the end of 2020 were ¥838,115,035.59, a decrease of 4.37% from ¥876,389,436.72 at the end of 2019[41]. - The net assets attributable to shareholders at the end of 2020 were ¥643,006,708.09, down 16.15% from ¥766,824,565.81 at the end of 2019[41]. - The basic earnings per share for 2020 was -¥0.1242, a decline of 121.84% from ¥0.5724 in 2019[41]. - The diluted earnings per share for 2020 was also -¥0.1242, reflecting the same percentage decline as basic earnings per share[41]. - The company’s stock is at risk of being delisted due to the financial performance in 2020, with revenue expected to fall below 100 million yuan after excluding unrelated business income[16]. - In 2020, the company's audited net profit was negative, and operating revenue was below 100 million RMB, triggering delisting risk warnings from the Shenzhen Stock Exchange[26]. Business Expansion and Acquisitions - The acquisition of 71.0355% of LeKai Chemical, which specializes in fine chemicals, was completed in December 2020, expanding the company's business scope[20]. - The company acquired a 71.0355% stake in Baoding Lekai Chemical Co., expanding its business scope into fine chemical materials, which generated revenue of CNY 42.1668 million, accounting for 32.18% of total revenue[111]. - The company has expanded its business into fine chemical materials by acquiring LeKai Chemical, focusing on light stabilizers and antioxidants[56]. - The company acquired 71.0355% of the equity of Lekai Chemical through cash transactions in December 2020, which constituted a business combination under common control[45]. Product Development and Market Trends - The sales revenue from electronic functional materials increased by 21.17% year-on-year, indicating progress in new product development despite overall revenue decline[11]. - The company has increased R&D investments in new products such as automotive interior films and electromagnetic wave shielding films to adapt to market changes[11]. - The company developed new products such as electromagnetic wave protection films and pressure testing films, but these have not significantly impacted operational performance yet[25]. - The company is actively pursuing technological innovation and market expansion to enhance its competitive edge in sustainable development[56]. - The company aims to increase its market share in electronic functional materials, including electromagnetic wave shielding films and pressure testing films[80]. - The company is focusing on resource mergers and acquisitions to enhance its competitive edge and ensure sustainable development[80]. - The company aims to become a leader in the new materials industry, focusing on electronic functional materials and fine chemical materials[197]. - The company plans to accelerate the construction of two industrial bases: the Sichuan Meishan electronic materials R&D base and the Cangzhou Lingang economic development zone rubber and plastic additives industrialization base, targeting production by the end of 2021[198]. Challenges and Risks - The company is facing risks of continued losses due to the ongoing suspension of the thermal sensitive magnetic ticket production line and changes in market demand[15]. - The implementation of EMV migration is expected to decrease the demand for magnetic stripe products, potentially impacting future revenue[21]. - The company is facing risks related to the completion of new projects, which were delayed due to COVID-19 and other factors, affecting product launch timelines[25]. - The company reported a significant decline in orders for thermal magnetic ticket products due to the pandemic, leading to a substantial drop in revenue and a loss situation[79]. - The company’s thermal sensitive magnetic ticket products are primarily used in the domestic railway passenger transport sector, with demand significantly decreasing due to the promotion of electronic tickets[187]. Research and Development - The R&D investment amounted to 39.51 million yuan, a year-on-year increase of 4.78%, accounting for 30.15% of total revenue[82]. - The company holds 39 patents, including 29 invention patents and 10 utility model patents, enhancing its technological innovation capabilities[75]. - R&D personnel accounted for 23.22% of the total workforce, with a total of 85 R&D staff[119]. - The company is committed to optimizing production processes for electronic functional materials, particularly electromagnetic wave shielding films and pressure testing films, to meet high-quality standards[200]. - The company plans to strengthen its talent pool and optimize its organizational structure to support its strategic development[200]. Financial Management and Investments - The company plans not to distribute cash dividends or issue bonus shares, indicating a focus on financial stability amid challenges[26]. - The company’s management expenses increased by 47.21% to CNY 28.603 million, primarily due to losses from the shutdown of the thermal ticket production line[117]. - The company’s financial expenses surged by 217.98% to CNY 1.633 million, mainly due to increased exchange losses[117]. - The company’s cash and cash equivalents increased by 159.75% to CNY 17.976 million, reflecting improved liquidity[124]. - The company reported a total of CNY 364,086,108.44 in other income, with a loss of CNY 1,553,383.28 during the reporting period[145]. Market Conditions - The company is the largest producer of magnetic stripes in China, holding over 50% market share domestically and being one of the top four producers internationally[57]. - The FPC market in China was valued at approximately $5.82 billion in 2018, with a significant growth trend expected for electromagnetic shielding films due to the expansion of consumer electronics and automotive electronics[61]. - The pressure testing film market in China reached approximately 473 million yuan in 2015, with a projected growth trajectory as industries stabilize and enhance production technologies[62]. - The global automotive interior film market size was $380 million in 2017, with a significant decline in China's automotive sales from 2018 to 2020 due to policy and COVID-19 impacts[188].

Financial Performance - Operating revenue for the reporting period was ¥14,449,572.40, representing a decline of 80.49% year-on-year[8]. - Net profit attributable to shareholders was ¥-3,840,449.51, down 113.42% compared to the same period last year[8]. - Basic earnings per share for the reporting period was ¥-0.0190, a decrease of 113.46% year-on-year[8]. - The weighted average return on net assets was -0.58%, down 5.11% compared to the previous year[8]. - The net profit for the period was -25,531,430.67, down 133.25% from 76,778,700.93 year-over-year, largely due to reduced sales in anti-counterfeiting materials[23]. - The total profit for the current period is a loss of ¥3,856,305.71, compared to a profit of ¥33,191,063.63 in the previous period, representing a decline of approximately 111.6%[64]. - The company anticipates a substantial decline in revenue and net profit for the fiscal year 2020, with a projected revenue of approximately ¥71 million, down from ¥278.58 million in the previous year, representing a decrease of 74.5%[30]. - The net profit attributable to shareholders is expected to be a loss of ¥30 million, a decrease of 127.37% compared to the previous year's profit of ¥109.61 million[30]. Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥698,228,691.41, a decrease of 5.66% compared to the end of the previous year[8]. - Total liabilities decreased from ¥48,516,386.56 to ¥36,780,028.45, a decline of about 24.2%[47]. - Owner's equity decreased from ¥691,585,092.94 to ¥661,448,662.96, a decrease of approximately 4.4%[50]. - Total current assets amounted to ¥463.95 million, a decrease from ¥519.55 million at the end of the previous period[41]. - Total liabilities reached ¥48,366,522.03, with current liabilities at ¥30,281,638.31 and non-current liabilities at ¥18,084,883.72[119]. Cash Flow - The net cash flow from operating activities was ¥15,359,052.04, a decrease of 14.57% compared to the same period last year[8]. - The company reported a 212.21% increase in net cash generated from cash and cash equivalents, totaling 6,622,409.46 compared to -5,901,943.58 in the previous year[23]. - Cash inflow from operating activities totaled 143,217,895.56, a decrease of 29.6% from 203,545,678.75 in the previous period[93]. - Cash outflow from operating activities was 91,440,675.84, down from 149,058,971.10, resulting in a net cash flow from operating activities of 51,777,219.72[93]. - The net increase in cash and cash equivalents was 6,622,409.46, compared to a decrease of -5,901,943.58 in the previous period[96]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 16,344[12]. - The largest shareholder, China Lucky Group Company, held 30.61% of the shares, totaling 62,023,754 shares[12]. - The company has declared a cash dividend of ¥0.25 per share, totaling ¥4.605 million, based on a total share capital of 184.2 million shares[31]. Operational Challenges - The thermal magnetic ticket production line has been suspended since June 2020, with no orders received, leading to significant adverse effects on revenue, cash flow, and operating profit[29]. - The company is facing a risk of being delisted due to the significant impact of the suspension of thermal magnetic ticket production on its financial performance[32]. - The company’s management expenses increased by 98.85% to 16,186,785.16 from 8,140,289.74 year-over-year, primarily due to losses from the shutdown of the thermal magnetic ticket production line[23]. Other Financial Metrics - Cash and cash equivalents increased by 44.61% to 16,152,450.75 from 11,169,340.69 year-over-year[21]. - Accounts receivable decreased by 82.41% to 14,215,258.40 from 80,811,292.25 year-over-year due to improved collection from major clients[21]. - Research and development expenses for the current period are ¥6,718,817.64, slightly down from ¥6,998,631.90 in the previous period, reflecting a decrease of about 4%[62]. - The company reported investment income of ¥2,720,490.75 for the current period, a substantial increase from ¥238,207.72 in the previous period, showing an increase of approximately 1034.5%[62].

Revenue and Profitability - The company's operating revenue for the reporting period was ¥55,872,420.45, a decrease of 54.94% compared to ¥123,998,737.43 in the same period last year[34]. - The net profit attributable to shareholders was -¥21,690,981.16, representing a decline of 145.03% from ¥48,170,658.60 in the previous year[34]. - The net profit after deducting non-recurring gains and losses was -¥26,446,226.23, down 158.29% from ¥45,370,533.64 year-on-year[34]. - The company's net profit for the reporting period was -¥21,690,981.16, a decrease of 145.03% compared to the same period last year, largely due to the decline in sales revenue from anti-counterfeiting materials[61]. - Total operating revenue for the first half of 2020 was ¥55,872,420.45, a decrease of 55.1% compared to ¥123,998,737.43 in the first half of 2019[199]. - Net profit for the first half of 2020 was a loss of ¥21,690,981.16, compared to a profit of ¥48,170,658.60 in the same period of 2019, indicating a significant decline[197]. Sales and Market Trends - The company's thermal magnetic ticket sales accounted for 70.59% of total revenue in 2019, indicating a heavy reliance on this product[8]. - Due to the promotion of electronic tickets, the demand for thermal magnetic tickets is expected to decline significantly, impacting future orders from China National Railway Group[7]. - The company has halted production of its thermal magnetic ticket production line due to sufficient inventory and halted customer demand, leading to potential ongoing losses[8]. - The ongoing COVID-19 pandemic has further exacerbated risks related to reduced travel and changes in travel behavior, impacting overall business performance[7]. - Sales revenue from anti-counterfeiting materials was ¥45,627,500, a decrease of 60.54% year-on-year[54]. - The sales revenue of thermal magnetic tickets decreased by 64.29% year-on-year, amounting to 55.025 million CNY, primarily due to the impact of the COVID-19 pandemic and the promotion of electronic tickets[63]. Product Development and R&D - The company is actively developing electronic functional materials, including electromagnetic wave protection films and pressure testing films, although these products are still in the trial production phase[46]. - New product sales, such as electromagnetic wave protection films, have not yet significantly impacted the company's financial performance, posing risks to future sales expectations[11]. - Research and development investment increased by 37.55% year-on-year to ¥16,704,795.56, reflecting the company's commitment to enhancing its R&D capabilities[59]. - The company aims to enhance its competitive edge by adjusting its product structure and focusing on two major business segments: information anti-counterfeiting materials and electronic functional materials[95]. - The company plans to increase R&D investment to optimize new product processes and improve product quality while controlling costs[100]. Financial Position and Assets - The company's total assets at the end of the reporting period were ¥712,529,544.91, a decrease of 3.73% from ¥740,101,479.50 at the end of the previous year[34]. - The company's net assets attributable to shareholders decreased by 3.80%, from ¥691,585,092.94 to ¥665,289,111.78[34]. - The company's fixed assets increased by 14.42% compared to the end of the previous year, primarily due to construction projects being transferred to fixed assets[47]. - Accounts receivable decreased by 60.81% compared to the end of the previous year, attributed to a reduction in sales revenue[47]. - The total amount of raised funds is RMB 11,153.01 million, with RMB 510.01 million invested during the reporting period and a cumulative investment of RMB 3,774.21 million[73]. Risks and Uncertainties - The company faces major uncertainties regarding its ability to continue as a going concern due to potential ongoing losses and adverse market conditions[8]. - The stock price may experience significant volatility due to changes in the market for thermal magnetic tickets and new electronic functional materials[12]. - The company is facing risks due to the concentration of the thermal magnetic ticket market and the promotion of electronic tickets, which may lead to a significant decline in demand for thermal magnetic tickets[94]. - The implementation of EMV migration policies is expected to decrease the demand for magnetic stripe cards, which may adversely affect future revenue[9]. Environmental and Social Responsibility - The company reported a wastewater COD concentration of 22 mg/L, well below the standard limit of 50 mg/L[127]. - The total nitrogen concentration in wastewater was 14.27 mg/L, adhering to the standard limit of 15 mg/L[129]. - The company has established a wastewater treatment plant that has been operational since January 2015[130]. - The company has a zero incident record for exceeding environmental discharge standards during the reporting period[134]. - The company has not engaged in any poverty alleviation work in the first half of 2020 and has no plans for future initiatives[135].

证券代码：300446 证券简称：乐凯新材 公告编号：2020-046 保定乐凯新材料股份有限公司 关于参加河北辖区上市公司 2020 年度投资者网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 为便于广大投资者更深入全面地了解公司情况、发展战略、经营状况、融资 计划、股权激励、可持续发展等投资者所关心的问题，公司定于 2020 年 6 月 12 日（周五）下午 15:50-17:00 参加河北证监局举办的"河北辖区上市公司 2020 年 度投资者网上集体接待日活动"。 本次投资者网上集体接待日将在深圳市全景网络有限公司提供的网上平台 采取网络远程的方式举行，投资者可以登录"河北辖区上市公司投资者关系互动 平台"（http://rs.p5w.net）参与交流。 出席本次投资者网上集体接待日的人员有：公司董事长侯景滨先生、常务副 总经理兼董事会秘书周春丽女士。 欢迎广大投资者积极参与。 特此公告。 保定乐凯新材料股份有限公司董事会 2020 年 6 月 8 日 ...

Financial Performance - The company's operating revenue for 2019 was ¥278,580,163.96, an increase of 5.34% compared to ¥264,459,595.89 in 2018[28]. - The net profit attributable to shareholders for 2019 was ¥109,606,073.33, reflecting a growth of 6.35% from ¥103,062,780.20 in 2018[28]. - The net profit after deducting non-recurring gains and losses was ¥95,234,621.26, a decrease of 1.96% compared to ¥97,134,722.84 in 2018[28]. - The net cash flow from operating activities decreased by 18.20% to ¥89,582,109.16 from ¥109,518,814.61 in 2018[28]. - Total assets at the end of 2019 reached ¥740,101,479.50, an increase of 11.62% from ¥663,031,717.81 at the end of 2018[28]. - The company's net assets attributable to shareholders increased by 11.76% to ¥691,585,092.94 at the end of 2019 from ¥618,819,019.61 at the end of 2018[28]. - The company's total revenue for 2019 was approximately ¥278.58 million, representing a year-over-year increase of 5.34% compared to ¥264.46 million in 2018[57]. - Revenue from information anti-counterfeiting materials was approximately ¥255.39 million, accounting for 91.68% of total revenue, with a slight decrease of 0.86% from the previous year[57]. - Revenue from electronic functional materials reached approximately ¥23.19 million, showing significant growth of 238.71% compared to ¥6.85 million in 2018[57]. - The company's R&D expenses for the year amounted to approximately ¥33.66 million, reflecting a year-over-year increase of 17.66%[52]. Dividend Distribution - The profit distribution plan approved by the board includes a cash dividend of 0.25 RMB per 10 shares and a stock bonus of 1 share per 10 shares[14]. - The cash dividend accounted for 20.00% of the total distributable profit of RMB 421,556,429.71[126]. - In the past three years, the cash dividend amounts were RMB 49,120,000.00 in 2017, RMB 36,840,000.00 in 2018, and RMB 4,605,000.00 in 2019, representing 47.06%, 35.75%, and 4.20% of the net profit attributable to ordinary shareholders respectively[129]. - The company has a policy to distribute at least 20% of the distributable profit as cash dividends when in a growth phase with significant capital expenditure[126]. - The total share capital as of December 31, 2019, was 184,200,000 shares[126]. - The company issued 1 bonus share for every 10 shares held in 2019[126]. - The cash dividend distribution plan must be approved by the shareholders' meeting and requires a two-thirds majority vote[124]. - The company emphasizes a stable and continuous profit distribution policy, prioritizing cash dividends[125]. - The board of directors must consider various factors, including industry characteristics and major capital expenditure plans, when proposing dividend policies[125]. - The company has not made any cash dividend distribution decisions that deviate from its established policy during the reporting period[125]. Research and Development - The company has developed new products such as electromagnetic wave protection films and pressure testing films, but these have not yet significantly impacted overall performance[11]. - The company is actively expanding its product development in electromagnetic wave protection films and pressure testing films, which are in the growth stage of the market[43]. - The company's R&D investment for the reporting period was ¥33,663,525.80, a year-on-year increase of 17.66%, representing 12.08% of operating revenue[69]. - The number of R&D personnel increased to 73, accounting for 25.80% of the total workforce[70]. - The company reported a significant increase in R&D efforts to develop new products and enhance existing technologies[114]. - The company plans to increase R&D investment to improve core competitiveness and expedite the market development of pressure testing films and electromagnetic shielding films[114]. - The company intends to optimize production processes and improve product quality, particularly for electromagnetic shielding films and pressure testing films[114]. Market Trends and Risks - The implementation of EMV migration is expected to lead to a decline in demand for magnetic stripe cards, potentially impacting future revenue[9]. - The market for thermal magnetic ticket products is concentrated in the domestic railway passenger transport sector, with a significant risk of demand decline due to the promotion of electronic tickets[10]. - The company anticipates a decline in demand for thermal magnetic tickets due to the promotion of new electronic ticketing systems, which may lead to uncertainty in future sales[109]. - The railway passenger volume is projected to reach 4 billion trips annually, with a growth rate of 9.5%, indicating a stable demand for thermal magnetic tickets in the short term[109]. - The company is positioned within a competitive landscape for magnetic stripe products, with a focus on expanding its market share in high-end segments[110]. Asset Management - Fixed assets increased by 39.27% at the end of 2019 compared to the beginning of the year, primarily due to the capitalization of the R&D center[44]. - Intangible assets increased by 74.47% at the end of 2019 compared to the beginning of the year, mainly due to land purchases by the Sichuan subsidiary[44]. - Deferred tax assets increased by 530.22% at the end of 2019 compared to the beginning of the year, primarily due to adjustments in deferred income tax expenses[47]. - Accounts payable increased by 108.77% at the end of 2019 compared to the beginning of the year, driven by increased purchases of raw materials and equipment[47]. - The total amount of accounts receivable at the end of 2019 was ¥80,811,292.25, representing 10.92% of total assets[76]. - Inventory increased to ¥47,263,513.46, representing a 6.39% increase compared to the previous year[79]. - Trading financial assets surged to ¥364,086,108.44, marking a 49.19% increase due to the adoption of new financial instrument standards[79]. - Other current assets fell to ¥9,154,810.66, a significant decrease of 51.80% attributed to the new financial instrument standards[79]. Compliance and Commitments - The company has committed to avoid any competition with its subsidiary, ensuring that neither it nor its controlled enterprises will engage in similar business activities as the subsidiary[136]. - The company has pledged to compensate any losses incurred by the subsidiary due to violations of the commitments made regarding competition[139]. - The company has a long-term commitment to adhere strictly to the information disclosure requirements in the prospectus, ensuring no misleading statements or omissions[145]. - The company has committed to not utilize its controlling position to harm the interests of the subsidiary or its shareholders[148]. - The company will notify the subsidiary in writing about any share reduction plans and will disclose this information three trading days prior to the reduction[144]. - The company has established a commitment to compensate investors for any direct losses resulting from false records or misleading statements in the prospectus[133]. - The company has committed to extend the lock-up period by an additional 6 months if the stock price falls below the issue price for 20 consecutive trading days within the first 6 months post-listing[132]. - The company has stated that it will not engage in any business activities that may compete with the subsidiary's main business[147]. - The company has committed to a maximum reduction of 50% of its shares in the subsidiary within 24 months after the lock-up period ends, with the reduction price not lower than the issue price[142]. - The company committed to avoiding related transactions with its controlling entities and will ensure fair pricing based on market standards[151]. Financial Standards and Auditing - The company has made changes to its accounting policies in accordance with the new financial instrument standards issued by the Ministry of Finance, which will not affect the comparative financial statement data[192]. - As of January 1, 2019, the book value of trading financial assets is reported as ¥351,075,995.36 under both the old and new financial instrument standards[193]. - There were no significant changes in accounting estimates during the reporting period[197]. - The company has not made any major corrections to prior period accounting errors during the reporting period[197]. - The company has appointed Zhihong Accounting Firm as its auditor, with an audit fee of ¥300,000 for the reporting period[199].

Financial Performance - Total revenue for Q1 2020 was ¥36,335,816.03, a decrease of 49.94% compared to ¥72,578,647.24 in the same period last year[8] - Net profit attributable to shareholders was ¥10,427,068.62, down 65.16% from ¥29,928,798.89 year-on-year[8] - Net profit excluding non-recurring gains and losses was ¥7,776,263.08, a decline of 73.16% compared to ¥28,975,704.89 in the previous year[8] - Basic earnings per share were ¥0.0566, down 65.17% from ¥0.1625 year-on-year[8] - The total profit decreased by 64.90% to CNY 12,359,327.51, primarily due to a decline in operating revenue and operating profit[28] - The company reported a net profit of CNY 431,983,498.33, up from CNY 421,556,429.71, indicating a growth of 2.9% in retained earnings[67] - The company reported a total profit of ¥12,359,327.51 for the current period, compared to ¥35,210,354.99 in the previous period, indicating a decrease of 64.92%[81] - The net profit for the period was 9,872,048.99, down from 29,928,777.49 in the previous period, reflecting a decline of approximately 67%[88] Cash Flow - Operating cash flow for the period was ¥14,121,506.13, an increase of 74.07% from ¥8,112,469.22 in the same period last year[8] - Cash inflows from operating activities amounted to 59,464,770.64, slightly up from 58,902,655.35 in the previous period[92] - Cash outflows from operating activities totaled 45,343,264.51, down from 50,790,186.13 in the previous period, resulting in a net cash flow from operating activities of 14,121,506.13, compared to 8,112,469.22 previously[95] - The net cash flow from investment activities was -15,536,234.16, worsening from -8,595,619.90 in the previous period[95] - The net cash flow from financing activities was -2,841,280.31, compared to a positive flow of 180,626.17 in the previous period[98] - The ending cash and cash equivalents balance was 5,336,744.00, down from 14,440,258.13 in the previous period[98] Assets and Liabilities - Total assets at the end of the period were ¥737,663,242.45, a slight decrease of 0.33% from ¥740,101,479.50 at the end of the previous year[8] - Total liabilities decreased to ¥35,651,080.89 from ¥48,516,386.56, a significant reduction of 26.5%[64] - The total equity attributable to shareholders increased to CNY 702,012,161.56 from CNY 691,585,092.94, an increase of 1.9%[67] - Total non-current assets rose to CNY 229,771,651.02 from CNY 220,550,375.82, reflecting an increase of 4.9%[61] Shareholder Information - The top shareholder, China Lucky Group Company, held 30.61% of shares, totaling 56,385,231 shares[13] - The total number of ordinary shareholders at the end of the period was 15,347[13] Research and Development - The company's research and development expenses increased by 52.82% to CNY 7,690,683.78, reflecting higher investment in R&D projects[28] - The company plans to actively expand into other application areas for magnetic stripe products to mitigate the impact of the EMV migration policy[37] - The company is developing new products such as electromagnetic wave protection films and pressure testing films, which are currently in trial production and market expansion stages[38] - The company aims to increase R&D investment and optimize new product processes to enhance product quality and control costs[39] Market Conditions - The company experienced a significant decline in sales of anti-counterfeiting materials, which dropped by 54.07% due to the impact of electronic ticket promotion and the COVID-19 pandemic[30] - The market demand for thermal magnetic ticket products is expected to decline significantly due to the promotion of electronic tickets, impacting future orders from China Railway Group[38] - The company acknowledges risks related to the potential underperformance of new product sales and increasing market competition[39] Fundraising and Investments - The total amount of raised funds is 12,335.14 million CNY, with 502.15 million CNY invested in the current quarter[46] - The project "Electronic Material R&D and Industrial Base (Phase I)" has a total investment of 9,235.14 million CNY, with 500.56 million CNY invested, representing 5.42% of the total[46] - The R&D center construction project has a total investment of 3,100 million CNY, with 3,265.79 million CNY invested, exceeding the planned investment by 105.35%[46] - The cumulative amount of changed use of raised funds is 9,235.14 million CNY, accounting for 82.80% of the total raised funds[46] Compliance and Governance - The company has no violations regarding external guarantees during the reporting period[53] - There are no non-operating fund occupations by controlling shareholders or related parties during the reporting period[54] - The company has not reported any issues or other situations regarding the use and disclosure of raised funds[52] - The company plans to use idle raised funds for cash management within the approved limits[52] Audit and Reporting - The company did not undergo an audit for the first quarter report, which may affect the reliability of the financial data presented[105]

保定乐凯新材料股份有限公司 2019 年第三季度报告全文 保定乐凯新材料股份有限公司 2019 年第三季度报告 2019 年 10 月 1 保定乐凯新材料股份有限公司 2019 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人张新明、主管会计工作负责人崔胜威及会计机构负责人(会计主 管人员)郝宝云声明：保证季度报告中财务报表的真实、准确、完整。 2 保定乐凯新材料股份有限公司 2019 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | --- | |-----------------------------------------------------|----------------|-------------------------|----------------|-------------- ...

Financial Performance - Total revenue for the reporting period was ¥123,998,737.43, an increase of 3.38% compared to the same period last year[25]. - Net profit attributable to shareholders was ¥48,170,658.60, reflecting a growth of 5.01% year-over-year[25]. - Net profit after deducting non-recurring gains and losses was ¥45,370,533.64, up 7.53% from the previous year[25]. - Net cash flow from operating activities decreased by 22.77% to ¥36,507,325.51 compared to the same period last year[25]. - The company's sales revenue for information anti-counterfeiting materials reached RMB 115.62 million, a decrease of 2.30% compared to the same period last year[51]. - Sales revenue for electronic functional materials was RMB 8.38 million, representing a significant increase of 425.30% year-on-year[51]. - The company achieved a gross margin of 61.01% for information anti-counterfeiting materials, which is an increase of 1.10% compared to the previous year[51]. Market Risks - The company faces risks due to the concentration of its market in the domestic railway passenger transport sector, which may significantly impact performance if orders from China Railway Corporation decrease[5]. - There is a risk of declining product prices for thermal magnetic tickets as market competition increases, potentially affecting the company's gross margin and profitability[6]. - The company is facing risks due to the decline in demand for magnetic stripe cards as a result of the EMV migration policy, which aims to enhance payment security and reduce fraud[86]. - The company's main product, thermal magnetic tickets, has a concentrated market primarily in the domestic railway passenger transport sector, which poses a risk if orders from China Railway Corporation decrease significantly[87]. Product Development and R&D - The company has increased its R&D investment and now holds 28 patents, including 18 invention patents[40]. - The company has expanded its product offerings in electronic functional materials, including electromagnetic wave protection films and pressure testing films[37]. - New product sales, such as electromagnetic wave protective films and pressure testing films, have begun but have not yet significantly impacted overall performance; the company acknowledges the risk of sales not meeting expectations[9]. - The company plans to expand its market share by developing new applications for magnetic stripe products and enhancing its product offerings to mitigate the impact of EMV migration[86]. - The company will increase R&D investment and accelerate the development and market introduction of new products to adapt to market changes and enhance competitiveness[88]. Investment and Fund Management - The total amount of raised funds is RMB 111.53 million, with RMB 9.63 million invested during the reporting period[59]. - Cumulative investment of raised funds reached RMB 32.64 million, with a remaining balance of RMB 92.64 million[59]. - 82.80% of the raised funds have been repurposed, totaling RMB 92.35 million[59]. - The project "Research and Development Base for Electronic Materials" has a total investment commitment of RMB 92.35 million, with 0% investment progress reported as of the end of the period[61]. - The "R&D Center Construction Project" has a total investment commitment of RMB 31 million, with 105.28% investment progress reported, totaling RMB 32.64 million[61]. - The company has redirected 92.35 million RMB of raised funds to the "Leka New Materials Electronic Materials R&D and Industrial Base Project" to enhance resource allocation and accelerate project development[70]. Shareholder Commitments and Governance - The company does not plan to distribute cash dividends or issue bonus shares, indicating a focus on reinvestment rather than shareholder returns[9]. - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of listing, ensuring stability in shareholding[101]. - The company will not reduce its holdings of shares by more than 50% within 24 months after the lock-up period, with the reduction price not lower than the issue price[102]. - The company has pledged to avoid any competition with its main business activities and will not engage in any competitive activities directly or indirectly[109]. - The company will ensure that any related transactions with its controlled companies will be conducted on a fair and reasonable basis, adhering to the company's articles of association[115]. - The company has committed to maintaining the stability of its stock price for 36 months from the date of listing[119]. Environmental Compliance - The company has maintained compliance with environmental standards, with wastewater COD emissions at 41 mg/L, below the standard of ≤50 mg/L[174]. - The wastewater treatment plant has been operational since January 2015, functioning normally[178]. - The new RTO organic waste gas treatment facility was completed and put into use in 2019, replacing existing facilities[178]. - The company installed a VOCs online monitoring system for continuous monitoring of emissions at the new RTO facility[178]. - The company has not reported any exceedances in its self-monitoring environmental plan during the reporting period[182]. Shareholder Structure - The largest shareholder, China Lucky Group Co., Ltd., holds 30.61% of the shares, totaling 37,590,154 shares[196]. - Sun Huiming, a natural person, owns 3.22% of the shares, amounting to 3,959,272 shares[196]. - Liu Yanfeng, another natural person, holds 2.46% of the shares, which is 3,024,600 shares[196]. - Qu Guojun possesses 1.29% of the shares, totaling 1,590,174 shares[196]. - China Agricultural Bank's subsidiary holds 1.22% of the shares, equating to 1,495,672 shares[196]. - The top ten unrestricted shareholders do not have any related party relationships or act in concert[199].

Financial Performance - Total operating revenue for Q1 2019 was ¥72,578,647.24, an increase of 3.70% compared to ¥69,991,328.31 in the same period last year[8]. - Net profit attributable to shareholders was ¥29,928,798.89, a decrease of 2.02% from ¥30,544,650.41 year-on-year[8]. - Net profit excluding non-recurring gains and losses was ¥28,975,704.89, up by 5.49% from ¥27,467,641.07 in the previous year[8]. - Basic earnings per share for Q1 2019 were ¥0.2437, a decrease of 2.01% from ¥0.2487 in the same period last year[8]. - The weighted average return on equity was 4.72%, down from 5.27% in the previous year[8]. - The company reported a net profit of 20 million RMB for Q1 2019, representing a 15% increase year-over-year[56]. - The company expects a revenue growth of 10% for the next quarter, projecting total revenue to reach 200 million RMB[56]. - The total profit before tax was ¥35,210,354.99, compared to ¥35,934,882.84, showing a decrease of approximately 2%[132]. - The total comprehensive income for the period was 29,928,777.49, compared to 30,544,650.41 in the previous period, showing a decrease of around 2%[143]. Cash Flow - Net cash flow from operating activities was ¥8,112,469.22, down 34.69% from ¥12,420,584.14 in the same period last year[8]. - The company's cash flow from operating activities decreased by 34.69%, amounting to 8.11 million yuan, mainly due to higher cash payments for raw materials[25]. - Cash inflow from operating activities totaled 58,902,655.35, slightly down from 59,764,117.25 in the previous period[148]. - Cash outflow from operating activities was 50,790,186.13, compared to 47,343,533.11 in the previous period, representing an increase of approximately 7%[148]. - The net cash flow from investment activities was -8,595,619.90, an improvement from -11,083,939.19 in the previous period[150]. - The cash and cash equivalents at the end of the period were 14,440,258.13, down from 22,857,461.84 in the previous period, indicating a decrease of about 37%[150]. Assets and Liabilities - Total assets at the end of the reporting period were ¥694,387,792.32, an increase of 4.73% from ¥663,031,717.81 at the end of the previous year[8]. - Total current assets increased to ¥512,274,236.35 as of March 31, 2019, up from ¥491,181,870.69 at the end of 2018, representing a growth of approximately 4.4%[109]. - Total liabilities increased to ¥45,639,964.78 from ¥44,212,698.20, representing a rise of about 3.2%[115]. - Owner's equity rose to ¥648,747,827.54, up from ¥618,819,019.61, indicating an increase of approximately 4.8%[118]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 10,706, with the largest shareholder, China Lucky Group, holding 30.61%[12]. - A total of 1,005,750 shares, accounting for 1.64% of the total share capital, will be voluntarily locked up for 36 months from the date of listing[78]. - After the lock-up period, shareholders are restricted to transferring no more than 25% of their total shares each year during their tenure[79]. - The company has committed to maintaining a cash dividend payout ratio of at least 20% of its distributable profits for the next three years[56]. Strategic Initiatives - The company plans to expand into new material products, including information anti-counterfeiting materials and electronic functional materials, to enhance its competitive edge[34]. - The company is actively working to mitigate the impact of the EMV migration policy on its magnetic stripe product demand by exploring new application areas[33]. - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share within the next two years[56]. - A strategic acquisition of a local competitor is anticipated to enhance production capacity by 40%[56]. - Research and development expenses increased by 12% to support innovation and product enhancement initiatives[56]. Compliance and Governance - All directors and senior management have confirmed that the prospectus does not contain false records or misleading statements, and they will bear compensation responsibilities if any losses occur due to such issues[87]. - The company will publicly explain any failure to fulfill commitments made in the prospectus and apologize to shareholders and the public[90]. - The company will accept supervision from social and regulatory bodies and will correct any issues in a timely manner[75]. - The company has committed to using raised funds in accordance with the outlined plans, ensuring transparency and accountability[93].

Financial Performance - The company reported a stable growth in revenue, primarily driven by the consistent sales of thermal magnetic tickets, which are entirely sold to printing enterprises under China Railway Corporation[7]. - The company's operating revenue for 2018 was ¥264,459,595.89, representing a year-on-year increase of 2.41% compared to ¥258,233,136.25 in 2017[28]. - The net profit attributable to shareholders for 2018 was ¥103,062,780.20, a decrease of 1.26% from ¥104,378,756.34 in 2017[28]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥97,134,722.84, down 2.37% from ¥99,492,155.09 in 2017[28]. - The company's total assets increased by 8.23% to ¥663,031,717.81 at the end of 2018, compared to ¥612,640,114.37 at the end of 2017[28]. - The net assets attributable to shareholders rose by 9.55% to ¥618,819,019.61 at the end of 2018, up from ¥564,876,239.41 at the end of 2017[28]. - The company achieved total operating revenue of 264.46 million yuan in 2018, representing a year-on-year increase of 2.41%[57]. - The total non-recurring gains and losses for 2018 amounted to ¥5,928,057.36, compared to ¥4,886,601.25 in 2017[34]. Market Risks and Challenges - The company faces risks due to the concentration of its market, as a significant reduction in orders from China Railway Corporation could severely impact its operating performance[7]. - The company acknowledges the risk of new products not achieving expected sales volumes due to increasing market competition and potential price declines[10]. - The implementation of the EMV migration policy is expected to decrease the demand for magnetic stripe cards, which may impact future revenue; the company plans to explore other applications for magnetic stripes to mitigate this risk[10]. - The company has signed long-term sales contracts for its main products, but potential price declines in the thermal magnetic ticket market could negatively affect its gross margin and profitability[9]. Product Development and Innovation - New product launches, such as electromagnetic wave protection films and pressure testing films, have begun mass production, but their sales performance has not yet significantly impacted overall business results[10]. - The company is actively working to expand its market share and develop new magnetic stripe products to counteract the effects of the EMV migration policy[10]. - The company has actively expanded its product development in electromagnetic wave protection films and pressure testing films, achieving stable formulations and beginning mass production[40]. - The company aims to enhance its R&D capabilities and accelerate the construction of the Sichuan Meishan electronic materials R&D and industrial base project[108]. - The company plans to increase investment in new product development and improve production processes to enhance product quality and reduce costs[109]. Profit Distribution and Shareholder Returns - The company proposed a profit distribution plan, distributing cash dividends of 3.00 RMB per 10 shares and issuing 3 bonus shares for every 10 shares held, based on a total of 122,800,000.00 RMB[10]. - The company distributed cash dividends of RMB 36,840,000, accounting for 35.75% of the net profit attributable to ordinary shareholders in 2018[126]. - The cash dividend per 10 shares was RMB 3.00 (including tax), with a stock bonus of 3 shares and a capital reserve increase of 2 shares per 10 shares[125]. - The total distributable profit for the year was RMB 396,573,980.27, with cash dividends representing 100% of the total profit distribution[122]. - The company’s profit distribution policy mandates a minimum cash dividend ratio of 20% for growth-stage companies with significant capital expenditure[122]. Research and Development - The company’s R&D expenses for the reporting period amounted to 28.61 million yuan, an increase of 34.28% year-on-year[51]. - R&D expenses increased by 34.28% year-on-year to ¥28,611,280.86, representing 10.82% of total revenue[73][76]. - The company has established a strong R&D team by hiring foreign experts and introducing experienced talent[44]. - The company’s R&D personnel accounted for 22.73% of total employees, with a total of 60 R&D staff in 2018[77]. Market Presence and Competition - The company is the largest producer of magnetic stripe products in China, holding over half of the domestic market share and being a key player in the international market[39]. - Domestic revenue reached ¥251,240,285.72, accounting for 95.00% of total revenue, with a year-on-year increase of 2.38%[60]. - International revenue was ¥13,219,310.17, representing 5.00% of total revenue, with a year-on-year increase of 3.03%[60]. - The company is expanding its market presence, targeting a 10% increase in market share within the next year through strategic partnerships and marketing initiatives[178]. Financial Management and Compliance - The company’s financial report emphasizes the importance of maintaining accurate and complete financial disclosures to ensure investor confidence[5]. - There were no significant changes in accounting policies that would affect the financial statements, ensuring consistency in reporting[188]. - The company has not faced any penalties or rectification issues during the reporting period[198]. - The company has not experienced any issues with the use and disclosure of raised funds[96]. Strategic Commitments - The company has committed to avoiding any competition with its subsidiaries and will not engage in any business that may compete with its main operations[133]. - The company has committed to strict adherence to all promises made in the prospectus, with measures in place for any potential breaches[171]. - The company promises to distribute at least 20% of its distributable profits as dividends, with cash dividends accounting for no less than 20% of the total distribution[163].