苏州世名科技股份有限公司 2022 年第三季度报告 苏州世名科技股份有限公司 2022 年第三季度报告 2022-073 【2022 年 10 月】 1 苏州世名科技股份有限公司 2022 年第三季度报告 苏州世名科技股份有限公司 2022 年第三季度报告 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。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、完 整。 3.第三季度报告是否经过审计 □是 否 4.本报告中如有涉及公司发展战略及未来计划等前瞻性陈述，均不构成公司对投资者及相关人士的实质承诺。提请投资 者及相关人士应当对此保持足够的风险认识，并且应当理解计划、预测与承诺之间的差异。敬请广大投资者理性投资， 注意风险。 2 苏州世名科技股份有限公司 2022 年第三季度报告 一、主要财务数据 | | 本报告期 | 年初至报告期末 | | -- ...

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 331,454,214.72, representing a 2.46% increase compared to CNY 323,490,197.87 in the same period last year[20]. - The net profit attributable to shareholders decreased by 37.04% to CNY 40,171,343.61 from CNY 63,801,766.64 year-on-year[20]. - Basic earnings per share fell by 37.56% to CNY 0.1488 from CNY 0.2383 in the same period last year[20]. - The net profit after deducting non-recurring gains and losses was CNY 39,312,096.23, down 36.28% from the previous year[53]. - The company's total profit for the first half of 2022 was CNY 43,469,912.77, down 37.5% from CNY 69,507,921.50 in the first half of 2021[168]. - The company reported a net profit for the first half of 2022 of CNY 40,171,343.61, down 37.2% from CNY 64,012,984.67 in the first half of 2021[169]. - The company's total revenue for the first half of 2022 was reported at 270 million, a 12.8% increase compared to the previous year[186]. Cash Flow and Investments - The net cash flow from operating activities turned negative at CNY -7,090,806.85, a decline of 119.01% compared to CNY 37,291,021.71 in the previous year[20]. - The net cash flow from investing activities improved by 17.26% to -¥74,471,042.25, reflecting a decrease in cash payments for the acquisition of fixed assets and other long-term assets[63]. - The net cash flow from financing activities was positive at ¥7,290,882.46, a significant turnaround from -¥68,302,178.53 in the previous year[63]. - The company's cash and cash equivalents decreased by 38.96% to -¥73,997,339.12, primarily due to cash outflows for the acquisition of fixed and intangible assets[65]. - The company's cash inflow from sales of goods and services decreased to 192,479,570.45 yuan in 2022, down from 211,724,127.20 yuan in 2021, reflecting a decline of approximately 9.1%[174]. Assets and Liabilities - Total assets increased by 2.83% to CNY 958,993,633.38 compared to CNY 932,596,810.46 at the end of the previous year[20]. - The company's total liabilities were CNY 150,986,627.15, up from CNY 135,878,934.47, indicating an increase of approximately 11.5%[161]. - The equity attributable to the owners of the parent company rose to CNY 808,007,006.23 from CNY 796,717,875.99, reflecting an increase of about 1.6%[161]. - The company's total assets at the end of the reporting period were 808.8 million yuan, an increase of 62.8% year-on-year[183]. Market and Product Development - The company focuses on the research, production, and sales of nano coloring materials, functional nano dispersions, specialty additives, electronic chemicals, and intelligent color adjustment systems, establishing itself as a leading supplier in China[27]. - The company is actively pursuing the "Fiber New Material Production Project," with some production lines already tested and achieving a certain scale of product sales[30]. - The company has developed advanced pigment modification and polymer additive preparation technologies, establishing itself as a leader in high-end environmentally friendly nano pigments in China[39]. - The company is committed to continuous innovation and development in the field of new materials, leveraging its technological and research advantages[27]. - The company is exploring potential mergers and acquisitions to accelerate growth and market expansion[186]. Environmental and Regulatory Compliance - The company emphasizes environmental protection by developing low VOC and environmentally friendly products, aligning with stricter market regulations[49]. - The company has implemented environmental protection measures, ensuring compliance with national regulations and maintaining stable operation of its environmental facilities[101]. - The company has established an emergency response plan for environmental incidents and conducted drills for hazardous waste and chemical leaks[103]. - The company conducts regular self-monitoring of environmental indicators, ensuring that wastewater discharge meets regulatory standards[104]. Corporate Governance and Management - The company has established a robust corporate governance structure to protect the rights of shareholders and creditors, ensuring timely and accurate information disclosure[106]. - The company maintains a stable management team with extensive experience, contributing to its operational efficiency and strategic development[51]. - The company has not reported any significant litigation or arbitration matters during the reporting period[118]. - The company has not engaged in any significant related party transactions during the reporting period[119]. Strategic Planning and Future Outlook - The company plans to continue expanding its market presence and invest in new product development in the upcoming quarters[182]. - The company has set a performance guidance for the next half of the year, aiming for a revenue growth of approximately 30%[182]. - The company is focusing on enhancing its technological capabilities and exploring potential mergers and acquisitions to drive growth[182].

Financial Performance - The company's operating revenue for Q1 2022 was ¥154,006,234.98, representing a 10.32% increase compared to ¥139,596,981.33 in the same period last year[4] - Net profit attributable to shareholders was ¥38,174,884.82, up 11.40% from ¥34,268,438.22 year-on-year[4] - The company reported a basic earnings per share of ¥0.1401, an increase of 8.86% from ¥0.1287 in the same period last year[4] - Total operating revenue for Q1 2022 was CNY 154,006,234.98, an increase of 10.1% compared to CNY 139,596,981.33 in the same period last year[21] - Net profit attributable to the parent company for Q1 2022 was CNY 38,174,884.82, representing a 10.5% increase from CNY 34,364,759.27 in Q1 2021[22] - Basic earnings per share for Q1 2022 was CNY 0.1401, compared to CNY 0.1287 in the previous year[23] Cash Flow and Liquidity - The net cash flow from operating activities was -¥32,451,373.08, a decrease of 144.76% compared to -¥13,258,519.71 in the previous year[10] - The company’s cash and cash equivalents decreased by 64.30% to ¥45,638,955.65, mainly due to increased cash outflows from investment activities[8] - Cash flow from operating activities showed a net outflow of CNY 32,451,373.08, worsening from a net outflow of CNY 13,258,519.71 in Q1 2021[26] - The net cash flow from investment activities was -49,533,755.90, compared to -45,656,359.23 in the previous period, indicating an increase in cash outflow by approximately 6.2%[27] - The total cash outflow from financing activities was 202,050.00, down from 32,000,000.00, reflecting a significant decrease of approximately 99.4%[27] - The net increase in cash and cash equivalents was -82,187,178.98, compared to -90,914,878.94 in the previous period, showing an improvement of about 9.5%[27] - The ending balance of cash and cash equivalents was 45,638,955.65, down from 112,170,772.46, representing a decrease of approximately 59.3%[27] Assets and Liabilities - Total assets at the end of the reporting period were ¥946,573,725.24, an increase of 1.50% from ¥932,596,810.46 at the end of the previous year[4] - The company's accounts receivable increased by 86.50% to ¥145,492,603.10, primarily due to sales policy impacts[8] - Current assets decreased to CNY 404,540,856.85 from CNY 430,632,312.62, primarily due to a reduction in cash and cash equivalents[17] - The total liabilities as of Q1 2022 were CNY 111,680,964.43, down from CNY 135,878,934.47 in the previous year[22] - The company’s total liabilities decreased, indicating a potential strengthening of the balance sheet and financial position[18] - The total equity attributable to shareholders of the parent company increased to CNY 834,892,760.81 from CNY 796,717,875.99, reflecting a growth of 4.8%[22] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,434[11] - The company reported a total of 88,113,922 shares subject to lock-up agreements, with specific conditions for release over the next few years[15] Operational Expenses - Total operating costs for Q1 2022 were CNY 111,442,953.08, up 9.3% from CNY 101,815,172.61 in Q1 2021[21] - Research and development expenses for Q1 2022 were CNY 6,128,664.64, down 19.2% from CNY 7,578,700.61 in the same period last year[22] - Sales expenses decreased to CNY 2,306,334.31 from CNY 4,936,938.17, a reduction of 53.3% year-on-year[22] Government Subsidies - The company received government subsidies amounting to ¥262,249.98 during the reporting period, a decrease of 66.83% from the previous year[9] Other Information - The company did not undergo an audit for the first quarter report[28] - The company has ongoing projects in construction, with capitalized costs increasing to CNY 164,549,060.91 from CNY 117,190,926.87[18] - The non-current assets totaled CNY 542,032,868.39, up from CNY 501,964,497.84, indicating investment in long-term growth[18] - Inventory remained relatively stable, with a slight increase to CNY 113,182,276.62 from CNY 112,671,278.09[17] - Current liabilities decreased to CNY 104,381,468.47 from CNY 128,313,567.36, reflecting improved liquidity management[18] - Deferred income as of Q1 2022 was CNY 5,592,188.75, slightly down from CNY 5,650,198.73 in the previous year[22]

Financial Performance - The company's operating revenue for 2021 was CNY 670,124,481.41, representing a 47.43% increase compared to CNY 454,523,891.19 in 2020[17]. - The net profit attributable to shareholders for 2021 was CNY 93,469,353.79, a slight increase of 0.80% from CNY 92,730,018.39 in the previous year[17]. - The net profit after deducting non-recurring gains and losses was CNY 95,315,208.35, which is a 6.62% increase from CNY 89,394,089.31 in 2020[17]. - The net cash flow from operating activities increased by 84.78% to CNY 159,855,433.65, up from CNY 86,510,777.82 in 2020[17]. - The total assets at the end of 2021 were CNY 932,596,810.46, reflecting a 4.37% increase from CNY 893,524,415.87 at the end of 2020[17]. - The net assets attributable to shareholders increased by 9.89% to CNY 796,717,875.99, compared to CNY 725,010,095.52 at the end of 2020[17]. - The basic earnings per share for 2021 were CNY 0.3476, a decrease of 0.29% from CNY 0.3486 in 2020[17]. - The diluted earnings per share for 2021 were CNY 0.3453, an increase of 0.94% from CNY 0.3421 in 2020[17]. - The weighted average return on equity was 12.38%, down from 13.64% in the previous year[17]. Revenue Breakdown - In 2021, the company's total revenue for the four quarters was approximately ¥690 million, with the highest revenue in Q2 at ¥183.89 million, and a decline in Q4 to ¥161.37 million[20]. - The revenue from the coatings segment was CNY 545,202,180.38, accounting for 81.36% of total revenue, with a year-on-year increase of 50.51%[75]. - The revenue from specialty additives increased by 158.57% to CNY 149,353,471.36, while the revenue from resins surged by 841.96% to CNY 868,294.20[75]. - The sales revenue of coloring agents increased by 31.07% compared to the previous year, reflecting effective market strategies and product development[63]. Research and Development - The company increased its R&D expenses by 54.96% in 2021, reflecting a strong commitment to innovation and product development[38]. - The company has a strong R&D capability with over 20 patents related to color paste formulation and production technology[51]. - The company has established multiple provincial-level research platforms to enhance its R&D strength[51]. - The company is focusing on the development of liquid dyeing technology and has established a comprehensive layout in the field of fiber liquid dyeing[35]. - The establishment of a technology innovation center recognized by the China National Textile Industry Association aims to develop functional nano materials for fiber production, addressing domestic production challenges[67]. Market Trends and Opportunities - The disposable glove market is projected to grow at a compound annual growth rate (CAGR) of 15.9%, with global sales expected to increase from 5.29 billion units in 2019 to 12.85 billion units by 2025[30]. - The domestic coatings industry is expected to grow to a total output value of approximately ¥370 billion by 2025, indicating a stable growth trend for the company's products[29]. - The company is positioned to benefit from the growing demand for green fibers, with an expected annual growth rate of over 10% in biodegradable materials and green fibers during the 14th Five-Year Plan[32]. Production and Capacity - The production capacity for colorants (color paste) is 44,040 tons/year, with a utilization rate of 78.33%[52]. - The company plans to increase production capacity for high-frequency copper-clad laminate resin and special additives by 10,000 tons/year[52]. - The "Fiber Plastic New Material Production Project" has completed the main construction and passed fire safety inspections, with 12,000 tons of masterbatch production equipment installed and currently in the debugging phase[42]. Corporate Governance - The company has established an effective internal control system, with no major defects identified in financial reporting as of the evaluation report date[198]. - The company has maintained independence from its controlling shareholders, ensuring no interference in its operational decisions[140]. - The company emphasizes information disclosure and transparency, ensuring compliance with relevant laws and regulations, and has designated a board secretary to manage investor relations[143]. - The company has a governance structure that complies with legal regulations, with no significant discrepancies noted[144]. Employee and Management - The total number of employees at the end of the reporting period was 427, including 205 from the parent company and 222 from major subsidiaries[180]. - The company has a competitive salary policy, providing various benefits including social insurance, housing fund, holiday benefits, and annual health check-ups[181]. - The management performance evaluation mechanism links executive compensation directly to their performance, ensuring accountability and motivation[196]. Future Outlook - Future outlook includes plans for market expansion and the introduction of new products, aiming for a revenue growth target of 20% in 2022[158]. - The company plans to maintain a high level of R&D investment, aiming to develop differentiated products based on market trends and customer needs[123]. - The company aims to enhance its core competitiveness by focusing on technological innovation and industry upgrades, targeting to become a global leader in color new materials[120].

Financial Performance - The company's revenue for Q3 2021 reached ¥185,260,544.67, representing a 55.57% increase year-over-year[4] - Net profit attributable to shareholders was ¥33,764,666.52, a 1.79% increase compared to the same period last year[4] - The net profit after deducting non-recurring gains and losses was ¥32,952,545.86, up 1.67% year-over-year[4] - The company reported a 67.48% increase in total revenue for the year-to-date, amounting to ¥508,750,742.54[13] - Total operating revenue for the third quarter of 2021 reached ¥508,750,742.54, a significant increase from ¥303,770,144.95 in the same period of 2020, representing a growth of approximately 67.5%[32] - Net profit for the third quarter of 2021 was ¥97,402,367.16, compared to ¥72,726,786.28 in the previous year, indicating a year-over-year increase of about 33.9%[33] - The total comprehensive income for the period reached ¥97,402,367.16, compared to ¥72,726,786.28 in the previous period, reflecting a significant increase[34] - Basic earnings per share increased to ¥0.3659 from ¥0.2735, indicating a growth of approximately 33.7% year-over-year[34] Assets and Liabilities - The total assets at the end of the reporting period were ¥923,203,000.96, reflecting a 3.32% increase from the end of the previous year[4] - The company's total assets as of September 30, 2021, amounted to ¥923,203,000.96, up from ¥893,524,415.87 at the end of 2020, reflecting a growth of approximately 3.3%[30] - The total liabilities decreased to ¥127,919,665.46 from ¥168,353,392.73, showing a reduction of about 24%[30] - Total liabilities amounted to CNY 168,353,392.73, with current liabilities at CNY 160,698,040.27[42] - The company has a long-term lease liability of CNY 3,289,448.12[42] - The company has a total of CNY 8,946,251.96 in contract liabilities[42] - The company’s total non-current liabilities stand at CNY 7,655,352.46[42] - The company has an unpaid dividend liability of CNY 10,000,000.00[42] - The company has a total of CNY 36,932,545.31 in other payables[42] Cash Flow - The operating cash flow for the year-to-date reached ¥63,002,507.24, a significant increase of 555.57%[4] - The net cash flow from operating activities increased by 555.57% to ¥63,002,507.24 compared to ¥9,610,309.81 in the same period last year, primarily due to increased cash receipts from sales[16] - The net cash flow from investing activities decreased by 96.79% to -¥109,960,445.02, attributed to investments in the construction of the new fiber-plastic material production project[16] - The net cash flow from financing activities decreased by 230.57% to -¥68,302,178.53, mainly due to an increase in loan repayments and dividend distributions compared to the same period last year[16] - Cash inflow from sales of goods and services amounted to ¥297,866,588.16, compared to ¥151,628,330.16 in the previous period, showing a growth of approximately 96.3%[36] - The net cash flow from financing activities was -¥68,302,178.53, compared to a positive cash flow of ¥52,309,811.85 in the previous period, reflecting a shift in financing strategy[38] - The ending balance of cash and cash equivalents decreased to ¥87,832,190.15 from ¥199,807,605.29, indicating a cash outflow during the period[38] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 9,789, with no preferred shareholders[18] - The largest shareholder, Lü Shiming, holds 40.52% of the shares, amounting to 109,469,322 shares, with 82,101,991 shares pledged[18] Research and Development - Research and development expenses surged by 130.08% to ¥40,464,224.55, indicating increased investment in innovation[13] - Research and development expenses for the third quarter of 2021 were ¥40,464,224.55, significantly higher than ¥17,587,369.29 in the same quarter of 2020, marking an increase of approximately 130%[33] Corporate Actions - The company plans to invest ¥10 million in the "Suzhou Shiming Technology Co., Ltd. Ink Material Production Project" to expand its product range and improve its industrial layout[23] - A new subsidiary, Shiming (Suzhou) New Materials Research Institute Co., Ltd., was established with a registered capital of ¥10 million to focus on technology development and industry upgrades[23] - The company completed the repurchase and cancellation of certain restricted stock options as approved in the 2020 annual general meeting[25] - The company has completed the procedures for the third release of restricted stock from the 2018 incentive plan and the second release from the 2019 incentive plan[24] Financial Adjustments - The company has adjusted its financial statements in accordance with new leasing standards, impacting the balance sheet[39] - The company adopted the new leasing standards effective January 1, 2021, impacting financial statement adjustments[44] - The company has not undergone an audit for the third quarter report[45]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 323,490,197.87, representing a 75.16% increase compared to CNY 184,683,791.61 in the same period last year[22]. - The net profit attributable to shareholders of the listed company reached CNY 63,801,766.64, up 61.18% from CNY 39,584,100.46 in the previous year[22]. - The net profit after deducting non-recurring gains and losses was CNY 61,690,438.56, reflecting a 65.05% increase from CNY 37,376,978.02 in the same period last year[22]. - The basic earnings per share increased to CNY 0.2383, a rise of 61.23% compared to CNY 0.1478 in the previous year[22]. - The company reported a total non-operating income of ¥2,111,328.08, which includes government subsidies of ¥2,020,310.12 and investment management income of ¥498,255.37[26]. - The company achieved operating revenue of ¥323,490,197.87, a year-on-year increase of 75.16%[45]. - The net profit attributable to shareholders reached ¥63,801,766.64, reflecting a growth of 61.18% compared to the previous year[45]. - The company reported a total revenue of 133,380,370 CNY from its subsidiary Changshu Shiming, with a net profit of 16,063,253.5 CNY, contributing significantly to the overall performance[99]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 899,618,850.18, showing a slight increase of 0.68% from CNY 893,524,415.87 at the end of the previous year[22]. - The net assets attributable to shareholders of the listed company increased by 4.17% to CNY 755,243,647.36 from CNY 725,010,095.52 at the end of the previous year[22]. - The company's total liabilities decreased to CNY 153,848,764.42 from CNY 168,311,830.18 at the end of 2020, reflecting a reduction of 8.6%[189]. - The company's total assets included cash and cash equivalents of ¥111,861,586.52, down 10.30% from the previous year, mainly due to project payments[72]. - Accounts receivable increased significantly to ¥154,350,597.07, representing 17.16% of total assets, driven by sales growth and delayed customer payments[72]. Research and Development - R&D expenses amounted to ¥24,106,600, representing 7.45% of operating revenue, with a year-on-year increase of 119.56%[49]. - The company is focusing on the development of liquid dyeing technology and has successfully applied various liquid dyeing products in multiple domestic enterprises[44]. - Research and development investment amounted to ¥24,106,649.88, a significant increase of 119.56% year-on-year, highlighting the company's commitment to innovation[57]. - The company has established strategic cooperation with the China Textile Science Research Institute to advance polyester and polyamide liquid coloring technology, indicating strong progress in key projects[56]. Market and Sales - The company focuses on the R&D, production, and sales of nano color pastes, functional nano dispersions, and specialty additives, maintaining a leading position in the domestic market[29]. - Sales of the company's paint color pastes showed a steady increase during the reporting period, supported by the expansion of production capacity among leading domestic paint companies[29]. - The demand for latex color pastes, particularly for medical gloves, has significantly increased, with sales showing substantial growth compared to the previous year[29]. - The company is actively expanding its market presence and enhancing its service system to provide comprehensive solutions for customers[36]. - The company has strengthened its partnerships with leading domestic paint enterprises to enhance market penetration and product sales[48]. Cash Flow and Investments - The company reported a net cash flow from operating activities of CNY 37,291,021.71, which is a decrease of 24.13% compared to CNY 49,151,568.73 in the same period last year[22]. - The net cash flow from investment activities was -¥90,011,213.91, a decline of 105.81%, attributed to payments for the construction of new fiber-plastic material projects[66]. - The company has completed the investment of RMB 150.00 million in the 20,000-ton water-based color paste production line and self-use additive construction project[85]. - The total amount of raised funds is RMB 281.47 million, with RMB 59.47 million invested during the reporting period[82]. Environmental and Compliance - The company is committed to environmental safety management and has established facilities for wastewater treatment and air pollution control[115]. - The company invested in environmental facilities including rain and sewage pipeline renovations and hazardous waste storage improvements during the first half of 2021, achieving stable operation and compliance with emission standards[116]. - The company conducted emergency drills for hazardous waste and chemical spills in the first half of 2021, continuously improving its emergency response plan[117]. - The company executed an environmental self-monitoring plan, conducting monthly water quality tests and ensuring compliance with environmental protection requirements[119]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 7,529[166]. - The largest shareholder, Lü Shiming, holds 40.50% of the shares, totaling 109,469,322 shares, with a decrease of 36,489,774 shares during the reporting period[166]. - The company’s total share capital increased from 180,662,742 shares to 270,268,605 shares following a capital reserve transfer of 89,605,863 shares, with a cash dividend of RMB 2.00 per 10 shares distributed to shareholders[159].

Financial Performance - The company's revenue for Q1 2021 reached ¥139,596,981.33, representing a 142.81% increase compared to ¥57,491,523.04 in the same period last year[9]. - Net profit attributable to shareholders was ¥34,268,438.22, up 233.29% from ¥10,281,725.28 year-on-year[9]. - The basic earnings per share increased to ¥0.1930, a rise of 229.91% from ¥0.0585 in the previous year[9]. - The weighted average return on equity improved to 4.51%, up 2.94% from 1.57% in the same period last year[9]. - The company achieved operating revenue of CNY 139.60 million, a 142.81% increase compared to the same period last year[21]. - Net profit attributable to shareholders reached CNY 34.27 million, reflecting a 233.29% growth year-on-year[24]. - The total operating revenue for Q1 2021 was CNY 139,596,981.33, a significant increase from CNY 57,491,523.04 in the same period last year, representing an increase of approximately 142.5%[58]. - The total profit for Q1 2021 was CNY 37,149,924.97, compared to CNY 10,686,078.21 in Q1 2020, indicating an increase of around 247.5%[61]. - The company's operating profit for Q1 2021 was CNY 37,156,572.76, a substantial rise from CNY 10,689,254.75 in the same quarter last year, showing an increase of approximately 247.5%[61]. Assets and Liabilities - The total assets at the end of the reporting period were ¥899,626,397.17, a slight increase of 0.68% from ¥893,524,415.87 at the end of the previous year[9]. - The total assets of the company increased slightly from 893.52 million RMB at the end of 2020 to 899.63 million RMB by March 31, 2021[50]. - The total liabilities decreased to CNY 144,679,330.02 from CNY 168,311,830.18, a reduction of about 14.1%[56]. - The company's total liabilities increased to 171,642,840.73 as of January 1, 2021, compared to 168,353,392.73 at the end of 2020[76]. - Total current liabilities were 164,647,960.61, with accounts payable at 64,473,781.48[79]. Cash Flow - The net cash flow from operating activities was negative at -¥13,258,519.71, worsening by 125.17% compared to -¥5,888,336.02 in the same period last year[9]. - The cash flow from operating activities for Q1 2021 was negative at CNY -13,258,519.71, compared to CNY -5,888,336.02 in Q1 2020, indicating a worsening cash flow situation[68]. - The company's operating cash flow for Q1 2021 was negative at -27,095,847.50, compared to a positive cash flow of 18,054,401.18 in the same period last year[70]. - Investment activities resulted in a net cash outflow of -53,886,165.20 in Q1 2021, compared to -40,697,835.38 in the previous year, showing an increase in investment expenditures[72]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 5,563[13]. - The largest shareholder, Lü Shiming, holds 40.40% of the shares, amounting to 72,979,548 shares, with 54,734,661 shares pledged[13]. Expenses and Costs - The company’s gross profit margin decreased as operating costs increased by 154.84% to CNY 82.26 million, in line with revenue growth[21]. - The total operating costs for Q1 2021 amounted to CNY 101,815,172.61, up from CNY 45,940,010.07 in Q1 2020, reflecting an increase of about 121.5%[59]. - The company reported R&D expenses of CNY 7,578,700.61 for Q1 2021, compared to CNY 5,952,563.01 in Q1 2020, indicating an increase of about 27.3%[59]. - The company experienced a decrease in management expenses, which were CNY 4,329,510.65 in Q1 2021, down from CNY 5,489,976.78 in Q1 2020, indicating improved cost management[63]. Investments and Projects - The company plans to invest ¥220 million in a new project to produce 56,000 tons of advanced photosensitive materials and 1,000 tons of photoresist nano pigment dispersions[34]. - A subsidiary will invest in a project to produce 5,500 tons of alcohol surfactants and 2,500 tons of modified silicone surfactants, with a capital increase of ¥50 million[35]. - The company has completed the investment in the 20,000-ton water-based color paste production line and self-use additive construction project, achieving 100% of the planned investment[40]. Market and Risk Management - The company has implemented measures to mitigate risks from fluctuations in raw material prices, including establishing procurement plans and optimizing production processes[28]. - The company is actively tracking market demand changes in downstream industries, focusing on expanding its market presence and enhancing its risk resilience[29]. Compliance and Standards - The company has received high-tech enterprise certification from relevant authorities, enhancing its competitive edge[36]. - The company has no significant changes in project feasibility or any non-compliance issues regarding the use of raised funds[41][43]. - The company adopted the revised accounting standard for leases starting January 1, 2021, with no impact on the financial statements[80]. - The first quarter report for 2021 was not audited, which may affect the reliability of the financial data presented[82].

Financial Performance - The company's operating revenue for 2020 was CNY 454,523,891.19, representing a 22.35% increase compared to CNY 371,495,243.82 in 2019[17]. - The net profit attributable to shareholders for 2020 was CNY 92,730,018.39, a 25.90% increase from CNY 73,651,739.82 in the previous year[17]. - The net profit after deducting non-recurring gains and losses was CNY 89,394,089.31, up 28.09% from CNY 69,790,698.29 in 2019[17]. - The net cash flow from operating activities increased by 71.96% to CNY 86,510,777.82, compared to CNY 50,308,786.39 in 2019[17]. - The total assets at the end of 2020 were CNY 893,524,415.87, a 25.92% increase from CNY 709,618,237.74 at the end of 2019[17]. - The net assets attributable to shareholders at the end of 2020 were CNY 725,010,095.52, reflecting a 12.19% increase from CNY 646,247,809.00 in 2019[17]. - The basic earnings per share for 2020 were CNY 0.5229, up 26.86% from CNY 0.4122 in 2019[17]. - The diluted earnings per share for 2020 were CNY 0.5131, an increase of 26.41% from CNY 0.4059 in the previous year[17]. - The company reported a total revenue of 454.52 million yuan in 2020, representing a growth of 22.35% compared to the previous year[48]. - The net profit attributable to shareholders reached 92.73 million yuan, marking a 25.90% increase year-on-year[48]. Investments and Acquisitions - The company completed the full acquisition of Kaimen Additives, enhancing its product variety in additives[31]. - The company is constructing a project with an annual production capacity of 5,500 tons of alkyne surfactants and 2,500 tons of polyether modified silicone surfactants[31]. - The company is also investing in a project with an annual production capacity of 56,000 tons of advanced photosensitive materials and 1,000 tons of photoresist nano pigment dispersions[32]. - The company completed the acquisition of 100% equity in Yueyang Kaimen Water-based Additives Co., Ltd. for RMB 69.5 million, making it a wholly-owned subsidiary[92]. - The company established a wholly-owned subsidiary, Suzhou Shiyun New Materials Technology Co., Ltd., with a 75% stake held by its subsidiary, Shiying Capital, as part of its strategic development on July 9, 2020[92]. Research and Development - The company invested 38.06 million yuan in R&D, which represents a 39.69% increase compared to 2019[65]. - The number of R&D personnel increased to 100 in 2020, representing 28.57% of the workforce, up from 23.24% in 2019[101]. - The company has developed proprietary technologies for polymer dispersants, supporting the research and development of new color materials[31]. - The company is focusing on the development of polymer fiber masterbatch manufacturing technology as part of its strategic layout[45]. - The company has established a textile color business center to support its fiber color-related operations, positioning it as a core business segment[63]. Market and Sales Performance - The company reported a significant increase in quarterly revenues, with Q4 2020 revenue reaching CNY 150,753,746.24[19]. - The coatings segment generated ¥362,240,339.73, accounting for 79.70% of total revenue, with a year-on-year growth of 22.17%[79]. - The special additives segment saw a remarkable increase of 612.80%, with revenue of ¥57,761,126.76, up from ¥8,103,413.84 in 2019[79]. - Revenue from the East China region was ¥183,994,183.12, a significant increase of 45.81% compared to ¥126,187,186.98 in 2019[79]. - The company’s sales of latex color paste for medical gloves increased significantly due to the surge in demand for protective products during the COVID-19 pandemic[28]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of CNY 2 per 10 shares, with a capital reserve conversion of 5 shares for every 10 shares held[6]. - The cash dividend distribution represents 100% of the total distributable profit of RMB 253,514,272.41[148]. - In 2020, the cash dividend amount was 35,842,345.20, representing 38.65% of the net profit attributable to ordinary shareholders[153]. - The company has committed to distributing at least 20% of its distributable profits in cash annually, provided there are no significant adverse changes in the external operating environment[158]. Compliance and Governance - The company emphasizes the importance of compliance with its internal regulations regarding fund management and related transactions[156]. - The independent directors have fulfilled their responsibilities in the profit distribution decision-making process, ensuring the interests of all shareholders are protected[145]. - The company has established necessary decision-making procedures for related party transactions, ensuring compliance with its articles of association[156]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[159]. Environmental and Social Responsibility - The company actively engages in environmental protection and energy conservation, ensuring compliance with national regulations and investing in necessary environmental facilities[199]. - The company and its subsidiaries are not classified as key pollutant discharge units by environmental protection authorities, maintaining compliance with environmental laws[200]. - The company emphasizes environmental protection by developing low-VOC and environmentally friendly products, aligning with national regulations[53].

Financial Performance - Operating revenue for the period reached CNY 119,086,353.34, a year-on-year increase of 22.18%[8] - Net profit attributable to shareholders was CNY 33,172,526.65, reflecting a growth of 23.96% year-on-year[8] - Basic earnings per share rose by 26.77% to CNY 0.1885[8] - The weighted average return on net assets was 4.85%, an increase of 0.53% compared to the previous year[8] - Total operating revenue for Q3 2020 was CNY 119,086,353.34, an increase of 22.2% compared to CNY 97,470,518.09 in Q3 2019[42] - Operating profit for Q3 2020 reached CNY 36,114,827.79, up 28.5% from CNY 28,105,951.69 in the same period last year[43] - Net profit attributable to shareholders for Q3 2020 was CNY 33,172,526.65, representing a 24.5% increase from CNY 26,760,281.04 in Q3 2019[44] - Basic earnings per share for Q3 2020 were CNY 0.1885, compared to CNY 0.1487 in Q3 2019, indicating a growth of 26.8%[44] Asset and Liability Changes - Total assets increased by 28.68% to CNY 913,123,205.14 compared to the end of the previous year[8] - The total assets of the company as of September 30, 2020, amounted to 913.12 million yuan, an increase from 709.62 million yuan at the end of 2019, reflecting a growth of approximately 28.6%[36] - The company's current assets as of September 30, 2020, were reported at 575.96 million yuan, compared to 480.72 million yuan at the end of 2019, indicating an increase of about 19.8%[33] - The company's total liabilities as of September 30, 2020, were 205.59 million yuan, up from 63.22 million yuan at the end of 2019, representing a significant increase of approximately 225.5%[35] - The company's total liabilities increased to CNY 202,843,298.86 in Q3 2020, up from CNY 176,948,163.33 in Q3 2019, marking a rise of 14.6%[39] - The company’s total liabilities to equity ratio stands at approximately 28.5%, reflecting a conservative leverage position[73][74] Cash Flow Analysis - The net cash flow from operating activities surged by 246.52% to CNY 9,610,309.81[8] - Cash flow from operating activities rose by 246.52% to ¥9,610,309.81, mainly due to a decrease in cash paid for goods and services[23] - Cash flow from operating activities generated a net amount of CNY 9,610,309.81, an increase of 246.5% from CNY 2,773,412.53 in the same period last year[59] - Cash flow from investing activities resulted in a net outflow of CNY 55,877,361.28, contrasting with a net inflow of CNY 22,557,034.34 in the previous year[60] - Cash flow from financing activities yielded a net inflow of CNY 52,309,811.85, compared to a net outflow of CNY 84,183,183.68 in the same period last year[60] Shareholder Information - The company reported a total of 6,681 common shareholders at the end of the reporting period[12] - The largest shareholder, Lv Shiming, holds 40.38% of the shares, amounting to 72,979,548 shares[12] Government Subsidies and Non-Recurring Items - The company received government subsidies totaling CNY 1,864,527.68 during the reporting period[10] - Non-recurring gains and losses amounted to CNY 2,967,154.98, primarily from government subsidies and financial asset management[10] Investment and Acquisitions - Goodwill increased to ¥48,218,273.35 following the acquisition of Yueyang Kaimen Water-based Additives Co., Ltd.[20] - The company completed the acquisition of 100% equity in Yueyang Kaimen Water-based Additives Co., Ltd. for a total investment of 69.5 million yuan, making it a wholly-owned subsidiary[24] Research and Development - Research and development expenses for Q3 2020 amounted to CNY 6,608,064.42, a significant increase of 38.3% compared to CNY 4,783,088.51 in Q3 2019[42] - Research and development expenses for Q3 2020 amounted to CNY 17,587,369.29, slightly up from CNY 16,343,429.53 in Q3 2019, showing a year-over-year increase of 7.6%[51] Other Financial Metrics - The company experienced a 39.53% decline in other income to ¥2,031,048.86, primarily due to the completion of government subsidy projects from the previous year[22] - Financial expenses decreased by 205.29% to -¥1,235,702.96, driven by increased interest income from fixed-income structured deposits[22] - The company reported a 39.65% decrease in investment income to ¥1,704,892.60, due to a reduction in non-fixed income structured deposits[22]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥184,683,791.61, representing a 2.22% increase compared to ¥180,670,921.35 in the same period last year[19]. - The net profit attributable to shareholders was ¥39,584,100.46, up by 1.98% from ¥38,817,130.95 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was ¥37,376,978.02, reflecting a 5.57% increase from ¥35,406,386.55 in the same period last year[19]. - The net cash flow from operating activities was ¥49,151,568.73, a significant increase of 365.89% compared to a negative cash flow of ¥18,485,337.18 in the previous year[19]. - The total assets at the end of the reporting period were ¥761,360,535.00, which is a 7.29% increase from ¥709,618,237.74 at the end of the previous year[19]. - The net assets attributable to shareholders increased by 2.98% to ¥665,532,293.23 from ¥646,247,809.00 at the end of the previous year[19]. - Basic earnings per share for the reporting period were ¥0.2217, up 2.78% from ¥0.2157 in the same period last year[19]. - Diluted earnings per share were ¥0.2206, reflecting a 3.13% increase from ¥0.2139 in the previous year[19]. - The weighted average return on equity was 5.98%, slightly down from 6.02% in the previous year[19]. Investment and Capital Management - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[6]. - The total amount of funds raised by the company is RMB 28,146.75 million, with a net amount of RMB 25,369.65 million after deducting issuance costs of RMB 2,776.10 million[69]. - As of June 30, 2020, the company has cumulatively used RMB 17,816.54 million of the raised funds, leaving a balance of RMB 11,928.69 million[70]. - The cumulative amount of changed-use raised funds is RMB 14,175.25 million, accounting for 50.36% of the total raised funds[69]. - The company has completed the investment in the project "2 million tons of water-based color paste production line and self-use additive construction project" with an investment amount of RMB 15,048.95 million[71]. - The new project "Fiber-Plastic New Material Production Project" has received RMB 14,175.25 million in raised funds, with an actual investment of RMB 2,184.01 million, representing a progress of 19.52%[74]. - The company has adjusted the investment scale of the original fundraising project, reducing the investment amount from RMB 28,122.85 million to RMB 15,048.95 million[71]. - The company has entrusted financial management with a total amount of CNY 460 million, including CNY 280 million from idle fundraising and CNY 180 million from idle self-owned funds[78]. - The outstanding balance of entrusted financial management is CNY 150 million, with no overdue amounts reported[78]. - The annualized return rate for the entrusted financial management is approximately 3.60%[79]. Research and Development - The company holds 66 patents, including 48 invention patents, indicating strong R&D capabilities[41]. - The company is actively developing new products, including the "Huan Cai" series of environmentally friendly architectural coatings, in response to national policies[50]. - The company continues to invest in R&D, collaborating with institutions to develop new products in various sectors, including water-based industrial paint and electronic chemicals[54]. - Research and development investment amounted to ¥10,979,304.87, a decrease of 5.03% from ¥11,560,341.02 in the previous year[58]. - The company has established a professional team to address potential risks in technology transformation projects, ensuring continuous progress in technical validation and optimization[96]. Market and Business Strategy - The company focuses on the research, production, and sales of nano color paste and functional nano dispersions, with no significant changes in its main business during the reporting period[26]. - The company continues to adopt a dual sales model of distribution and direct sales, optimizing its approach based on customer needs and product types[30]. - The company is enhancing its supply chain management through information technology, aiming to reduce the impact of raw material market fluctuations[29]. - The company is developing new products that comply with environmental regulations, including ultra-low VOC and zero APEO products, to meet increasing green demands[31]. - The company is positioned to benefit from the rapid development of the fiber liquid dyeing technology, which addresses energy consumption and wastewater discharge issues[33]. - The electronic chemicals market is experiencing a wave of domestic production driven by government support, presenting new opportunities for the company[33]. Environmental Compliance - The company achieved compliance with environmental regulations, with all pollutants discharged within the permitted limits[125]. - The company has established a comprehensive environmental management system and obtained ISO 14001:2015 certification[127]. - The company has implemented effective waste classification and disposal measures, ensuring compliance with environmental standards[127]. - The company conducts regular self-monitoring of environmental indicators, with results meeting regulatory requirements[130]. Risk Management - The company faces risks from fluctuations in raw material prices, particularly titanium dioxide and iron oxide pigments, which could impact costs[90]. - The company has implemented procurement plans and differentiated pricing strategies to mitigate the impact of raw material price volatility[90]. - The company acknowledges management risks associated with its expanding business scale, emphasizing the need for improved resource integration and internal controls[93]. Shareholder Structure - The total number of ordinary shareholders at the end of the reporting period is 9,256[152]. - The largest shareholder, Lü Shiming, holds 40.38% of the shares, totaling 57,549,000 shares[153]. - The second-largest shareholder, Wang Min, holds 6.27% of the shares, totaling 11,340,000 shares[153]. - The company has not experienced any changes in its controlling shareholder during the reporting period[155]. - The total number of shares with restrictions on sale at the end of the reporting period is 44,246,274 shares[154]. Operational Efficiency - The company has introduced a new technology that improves operational efficiency by 30%[80]. - The company reported a significant increase in user data, with a year-on-year growth of 20% in active users[80]. - The overall customer satisfaction rate has improved to 85%, up from 80% in the previous year[80]. - The company has committed to a sustainable growth strategy, aiming for a 5% reduction in operational costs over the next year[80].