江苏广信感光新材料股份有限公司 2017 年第三季度报告全文 江苏广信感光新材料股份有限公司 2017 年第三季度报告 2017 年 10 月 1 所有董事均已出席了审议本次季报的董事会会议。 公司负责人李有明、主管会计工作负责人陈长溪及会计机构负责人(会计主 管人员)马红兵声明：保证季度报告中财务报表的真实、准确、完整。 2 江苏广信感光新材料股份有限公司 2017 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 √ 是 □ 否 江苏广信感光新材料股份有限公司 2017 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。 追溯调整或重述原因 其他原因 | | 本报告期末 | 上年度末 | | 本报告期末比上年度 | | --- | --- | --- | --- | --- | | | | | | 末增减 | | | | 调整前 | 调整后 | 调整后 | | 总资产（元） | 1,433,470,152. ...

Financial Performance - Total revenue for the reporting period reached ¥148,776,913.64, an increase of 13.46% compared to ¥131,127,462.70 in the same period last year[25]. - Net profit attributable to shareholders was ¥23,881,645.83, reflecting a growth of 13.47% from ¥21,047,419.27 year-on-year[25]. - Net profit after deducting non-recurring gains and losses decreased by 4.79% to ¥19,874,022.20 from ¥20,874,867.88 in the previous year[25]. - Operating cash flow net amount was ¥15,784,272.48, up 13.56% from ¥13,899,665.59 in the same period last year[25]. - Total assets at the end of the reporting period were ¥1,337,796,526.44, a significant increase of 128.68% from ¥585,010,550.43 at the end of the previous year[25]. - Net assets attributable to shareholders rose by 84.18% to ¥886,413,543.31 from ¥481,287,881.85 at the end of the previous year[25]. - Basic earnings per share decreased by 6.25% to ¥0.15 from ¥0.16 in the same period last year[25]. - Diluted earnings per share also fell by 6.25% to ¥0.15 from ¥0.16 year-on-year[25]. - The weighted average return on equity increased slightly to 4.81% from 4.68% in the previous year[25]. Acquisition and Goodwill - The company confirmed a goodwill of 543.38 million yuan from the acquisition of Jiangsu Hongtai, which poses a risk of impairment if future earnings do not meet expectations[7]. - The company completed a significant equity investment of ¥660,000,000.00 in Jiangsu Hongtai High Polymer Materials Co., Ltd., acquiring 100% ownership[65]. - The acquisition of Jiangsu Hongtai resulted in a goodwill of 54.34 million yuan, with a commitment to achieve performance targets based on competitive advantages and industry prospects[88]. - Jiangsu Hongtai has committed to achieving audited net profits of no less than 48 million yuan, 55 million yuan, and 62 million yuan for the years 2017, 2018, and 2019 respectively[8]. - The company completed the acquisition of Jiangsu Hongtai, which specializes in UV-curable coatings, expanding its product offerings in consumer electronics and automotive sectors[35]. Research and Development - The company emphasizes the importance of timely product innovation to maintain market competitiveness and prevent loss of market share[6]. - The company has a dedicated R&D team of 148 personnel, including 9 with doctoral degrees, enhancing its innovation capabilities[41]. - The company has highlighted the need for continuous R&D investment to optimize existing products and develop new ones to meet market demands[5]. - The company developed a high-performance anti-fingerprint coating for potential large-scale application in cover glass and 3D glass[40]. - The company has a strong R&D capability in specialized coatings, with products like PVD coatings and UV coatings for steel corrosion leading the industry[49]. - The company plans to continue investing in research and development to innovate new products and technologies, aiming to capture a larger market share[170]. - Jiangsu Hongtai will continue to leverage its R&D capabilities to expand into various coating markets, including anti-corrosion coatings for steel pipes and cosmetic packaging[91]. Market and Sales Risks - The company faces growth risks due to potential declines in market demand for specialized inks and coatings, which could negatively impact sales and profitability[5]. - The company is exposed to risks from rising raw material prices, primarily petrochemical products, which could increase production costs and affect profitability[5]. - The complexity and long development cycles of new product research and development present risks of not meeting expected goals, impacting the company's competitive position[6]. - The company acknowledges that macroeconomic fluctuations and changes in national industrial policies could affect the demand for specialized inks[7]. - The company plans to increase the development of new suppliers and alternative raw materials to control procurement costs and mitigate the impact of rising raw material prices on profitability[85]. Financial Management and Investments - The company reported a total non-operating income of 4,007,623.63, which includes government subsidies of 3,010,851.01 and investment management income of 1,804,187.21[32]. - The company has ongoing projects with a total investment of ¥120,000,000.00 in structured deposits, with a cumulative actual investment of ¥120,000,000.00[67]. - The company has not changed the use of raised funds, with no funds reallocated during the reporting period[70]. - The company utilized a maximum of RMB 120 million of idle raised funds for short-term bank wealth management products, with a balance of RMB 120 million as of June 30, 2017[73]. - The company’s investment income from entrusted financial management was 1.80 million yuan, contributing 6.48% to the total profit[58]. Shareholder and Equity Information - The company reported a total share capital of 160,000,000 shares after a rights issue, which included a cash dividend of RMB 1.50 per 10 shares and a capital reserve conversion of 6 shares for every 10 shares held[121][120]. - The shareholding structure remains stable, with 75% of shares held by domestic investors and no foreign ownership reported[119]. - The total number of shareholders at the end of the reporting period was 12,539[126]. - The largest shareholder, Li Youming, holds 54.62% of the shares, totaling 87,390,978 shares[127]. - The total number of shares held by the top 10 shareholders is 120,000,000 shares[124]. Legal and Compliance Matters - The company has successfully resolved three contract dispute lawsuits, with favorable judgments supporting its claims[100]. - The company did not engage in any major related party transactions during the reporting period, including asset or equity acquisitions, joint investments, or debt transactions[104][105][107][108]. - There were no significant contracts, guarantees, or leasing arrangements reported during the period[109][112][113]. - The company has not reported any penalties or rectification measures during the reporting period[102]. - The company has not disclosed any other significant matters that require explanation during the reporting period[115][116]. Operational Highlights - The company has established long-term partnerships with major clients in the mobile manufacturing sector, including Huawei, OPPO, and Lenovo, enhancing its market presence[46]. - The company has successfully expanded its international market presence, gaining recognition in the US, India, and the Middle East through collaborations with multinational companies[46]. - The company has successfully broken the foreign monopoly on high-performance specialty coatings, establishing itself as a leader in the domestic market[42]. - The company has developed new products such as high-weather-resistant silicone hard coatings and anti-fog coatings, which are already being applied in domestic automotive brands[90].

Financial Performance - Total revenue for Q1 2017 was CNY 60,024,448.10, representing a 2.52% increase compared to CNY 58,551,605.06 in the same period last year[7] - Net profit attributable to shareholders was CNY 8,443,444.02, up 2.17% from CNY 8,263,913.33 year-on-year[7] - Net profit after deducting non-recurring gains and losses decreased by 13.98% to CNY 7,009,259.34 from CNY 8,148,564.65 in the previous year[7] - Basic earnings per share decreased by 27.27% to CNY 0.08 from CNY 0.11 in the same period last year[7] - Operating income for the period was RMB 60.02 million, a year-on-year increase of 2.52%[18] - Net profit for the period was RMB 8.44 million, a year-on-year increase of 2.17%[17] - The total profit for the quarter was CNY 10,084,990.44, slightly up from CNY 10,055,337.20 in the same period last year[45] Cash Flow and Liquidity - Net cash flow from operating activities increased significantly by 56.57% to CNY 6,857,589.19 from CNY 4,379,777.82[7] - Cash and cash equivalents at the end of the reporting period were RMB 174.34 million, an increase of 43.17% from the beginning of the period[17] - The net increase in cash and cash equivalents for the period was 45,974,633.11 CNY, compared to an increase of 1,979,572.96 CNY in the previous period, indicating improved cash management[55] - Cash inflow from investment activities was 191,450,246.57 CNY, with a net cash flow from investment activities of 47,229,666.57 CNY, showing positive investment returns[55] - Cash outflow from operating activities totaled 33,583,227.87 CNY, compared to 70,439,201.69 CNY in the previous period, indicating reduced operational expenditures[52] Assets and Liabilities - Total assets at the end of the reporting period were CNY 586,249,264.24, a slight increase of 0.21% from CNY 585,010,550.43 at the end of the previous year[7] - Total liabilities at the end of the reporting period were RMB 96.52 million, a decrease of 6.95% from the beginning of the period[17] - The company's fixed assets amounted to CNY 64,146,513.53, slightly decreasing from CNY 64,411,761.94 in the previous period[33] - The company's total equity increased to CNY 489,731,325.87 from CNY 481,287,881.85, reflecting a growth of about 1.8%[36] Operational Risks and Challenges - The company faced risks including a decline in gross margin for specialty inks and significant inventory levels, which could lead to impairment risks[9] - The cost of raw materials, which account for approximately 90% of production costs, poses a risk to profitability due to potential price increases[9] - The gross profit margin decreased from 44.54% to 40.59% due to rising costs of upstream materials[18] - The company is committed to increasing R&D investment to maintain its competitive edge, but faces risks related to the uncertainty of achieving R&D goals[10] Shareholder Information - The largest shareholder, Li Youming, holds 54.62% of the shares, with a total of 54,619,361 shares pledged[12] - The company plans to distribute a cash dividend of 1.5 yuan per 10 shares, totaling 60 million shares to be issued from capital reserves, increasing total share capital to 160 million shares[26] Customer and Supplier Concentration - The top five suppliers accounted for 36.65% of total procurement, with a total procurement amount of RMB 12.51 million[19] - The top five customers contributed 14.13% of total revenue, with sales revenue of RMB 8.48 million[19] Other Financial Metrics - The company reported a decrease in accounts payable to CNY 71,181,369.60 from CNY 78,772,107.48, which is a reduction of approximately 9.7%[33] - The accounts receivable stood at CNY 205,673,135.26, slightly up from CNY 203,163,798.47, showing a minor increase of about 1.2%[37] - Inventory increased to 52.33 million yuan from 50.14 million yuan, suggesting a slight rise in stock levels[32]

Financial Performance - The company's operating revenue for 2016 was CNY 270,960,726.36, representing an increase of 8.22% compared to CNY 250,371,308.76 in 2015[19]. - The net profit attributable to shareholders for 2016 was CNY 42,412,989.24, a 1.99% increase from CNY 41,585,797.47 in 2015[19]. - The total assets at the end of 2016 were CNY 585,010,550.43, a significant increase of 68.82% from CNY 346,522,320.00 at the end of 2015[19]. - The net assets attributable to shareholders increased by 98.11% to CNY 481,287,881.85 at the end of 2016 from CNY 242,941,477.46 at the end of 2015[19]. - The company's total distributable profit for 2016 was 138,154,731.46 CNY, indicating a healthy profit margin[102]. - The company reported a total revenue of 1.5 billion RMB for the year 2016, representing a year-on-year growth of 20%[114]. - The net profit attributable to shareholders was 300 million RMB, an increase of 15% compared to the previous year[115]. Research and Development - The company emphasizes the importance of continuous R&D investment to ensure product advancement and market adaptability[6]. - The complexity of the synthesis technology for specialty inks results in a long R&D cycle, posing risks of not meeting development targets[7]. - The company continues to focus on R&D in specialized inks, enhancing its competitive edge through technological innovation and product development[32]. - The company has implemented a three-tier product R&D strategy to ensure its technology meets future development needs over the next 3 to 5 years[32]. - The company has a dedicated R&D team of 57 members, including 4 with doctoral degrees and 5 with master's degrees, enhancing its innovation capabilities[34]. - New product developments include liquid photoresist low-pressure spray solder mask ink and water-based metal processing protective ink, which will be gradually introduced to the market[33]. - The company has established partnerships with several universities and research institutions, enhancing its R&D resource integration capabilities[35]. Market and Sales Strategy - The company aims to enhance its technological innovation capabilities and develop new products, focusing on the PCB industry and expanding into new materials and applications[90]. - The company intends to expand its sales channels and increase market share in the specialized ink products sector, maintaining close relationships with downstream enterprises[92]. - The company plans to accelerate the construction of its fundraising projects, including a research and development center and production base, to improve R&D capabilities and production control levels[91]. - The company is in the process of acquiring 100% equity of Jiangsu Hongtai Polymer Materials Co., Ltd., which is currently at the feedback stage with the China Securities Regulatory Commission[51]. Profit Distribution and Shareholder Returns - The profit distribution plan includes a cash dividend of 1.50 RMB per 10 shares (before tax) and a capital reserve conversion of 6 shares for every 10 shares held[8]. - The company emphasizes a profit distribution policy that prioritizes cash dividends, aiming for a minimum of 20% of distributable profits to be allocated as cash dividends[97]. - The cash dividend accounted for 100% of the total profit distribution in 2016, reflecting a focus on providing returns to shareholders[103]. - The company proposed a cash dividend of 1.50 CNY per 10 shares, totaling 15,000,000 CNY for the year 2016, which represents 35.37% of the net profit attributable to ordinary shareholders[102][107]. - The profit distribution policy is subject to adjustments based on regulatory changes and the company's operational conditions[101][104]. Risk Management - The company has established a comprehensive risk management framework to address potential operational and market risks[5]. - The company faces growth risks due to potential declines in market demand for specialty inks and the need for timely product updates to maintain competitiveness[6]. - The specialty ink market is influenced by macroeconomic changes and national industrial policy adjustments, which could affect sales performance[7]. Environmental Responsibility - The company maintained a strong focus on environmental protection, with all waste management indicators meeting standards and no environmental pollution incidents reported during the year[51]. - The company is committed to sustainability and environmental responsibility in its product development processes, aligning with global industry trends[164]. Corporate Governance - The company has established a commitment to maintain stock price stability for three years post-IPO, ensuring the stock price does not fall below the audited net asset value per share[109]. - The independent directors played a crucial role in ensuring the profit distribution plan was compliant with regulations and protected minority shareholders' rights[102][105]. - The company has not engaged in any major related party transactions with other enterprises controlled by Li Youming, ensuring no conflicts of interest[109]. - The company has established an independent financial accounting system and can make independent financial decisions without sharing bank accounts with controlling shareholders[184]. Financial Management - The company raised a total of RMB 229.75 million through the issuance of 25 million shares at RMB 9.19 per share, with a net amount of RMB 195.93 million after deducting fees[80]. - The cash and cash equivalents increased to CNY 121,772,162.37 from CNY 37,804,612.57 at the end of 2015, primarily due to increased funds from the IPO[30]. - The company has committed to future entrusted financial management plans, indicating ongoing investment strategies[137]. - The company has a plan for market expansion and product development, although specific figures were not disclosed in the provided content[108].

Financial Performance - Total operating revenue for the period was CNY 66,424,035.50, a 4.37% increase year-on-year[7] - Net profit attributable to shareholders increased by 25.76% to CNY 9,367,167.22 compared to the same period last year[7] - The net profit after deducting non-recurring gains and losses was CNY 9,304,710.99, up 24.92% year-on-year[7] - The company's total operating revenue for the current period reached ¥197,551,498.20, an increase of 7.4% compared to ¥183,375,397.82 in the previous period[56] - The net profit for the current period was ¥30,414,586.49, representing a growth of 7.8% from ¥28,229,723.94 in the previous period[58] - The total comprehensive income for the current period was ¥30,414,586.49, up from ¥28,229,723.94, indicating a growth of 7.8%[58] - The total comprehensive income for the period was CNY 37,030,157.04, compared to CNY 30,398,452.28 in the previous period, reflecting an increase of approximately 21.5%[64] Assets and Liabilities - Total assets increased by 63.06% to CNY 565,040,572.57 compared to the end of the previous year[7] - Total assets at the end of the reporting period reached RMB 565.04 million, an increase of 63.06% compared to the beginning of the period[19] - Total liabilities at the end of the reporting period were RMB 95.75 million, a decrease of 7.56% compared to the beginning of the period[19] - Total liabilities decreased to CNY 86,609,631.03 from CNY 97,116,292.31, a reduction of 10.4%[47] - The company's total assets increased by 202.02% to 13.61 million yuan in other payables, primarily due to unpaid issuance expenses[20] Shareholder Equity - Net assets attributable to shareholders rose by 93.17% to CNY 469,289,479.10 compared to the end of the previous year[7] - Owner's equity at the end of the reporting period was RMB 469.29 million, an increase of 93.17% compared to the beginning of the period[19] - Share capital rose by 33.33% to 100 million yuan, resulting from the issuance of 25 million new shares[20] - Capital surplus increased by 351.56% to 219.56 million yuan, attributed to the premium from the new share issuance[20] - Shareholders' equity increased significantly to CNY 472,476,836.92, up from CNY 239,513,264.73, marking a growth of 97.1%[47] Cash Flow - Cash and cash equivalents at the end of the reporting period amounted to RMB 248.44 million, a significant increase of 557.18% due to funds raised from new stock issuance[19] - Net cash flow from operating activities was 31.22 million yuan, up 28.51% year-on-year[20] - The net cash flow from operating activities was CNY 31,224,309.85, up from CNY 24,296,329.31 in the previous period, representing a growth of about 28.5%[64] - The net cash flow from financing activities was CNY 190,102,921.60, a significant increase compared to CNY -22,267,487.08 in the previous period[65] - The ending balance of cash and cash equivalents was CNY 246,188,127.09, up from CNY 16,183,993.79 in the previous period, reflecting a substantial increase of approximately 1,416.5%[65] Risks and Challenges - The company faces risks from intensified market competition and potential declines in market share due to foreign competitors[9] - The company has a significant inventory amounting to CNY 46,442,300, which poses a risk of impairment[10] - Raw material costs account for approximately 90% of production costs, exposing the company to risks from price fluctuations[11] Shareholder Commitments - The company reported a commitment to maintain its stock price, with a promise to repurchase shares if the stock price falls below the audited net asset value per share for 20 consecutive trading days[27] - The controlling shareholder, Li Youming, committed to not reduce his shareholding below 25% of his total shares held during the three years post-listing[27] - The company will implement stock buyback measures as per the approved plan if necessary, ensuring compliance with relevant regulations[28] - The company has committed to repurchase all newly issued shares at a price not lower than the original issuance price if significant misstatements are identified[28] - The company has established measures to compensate shareholders in case of any breaches of commitment by its directors or senior management[30] Compliance and Governance - The company confirmed that all commitments made by its actual controller are valid and enforceable, ensuring shareholder rights are protected[30] - The company has not violated any commitments as of the report date, indicating compliance with its obligations[30] - There were no violations of commitments by the company's directors and senior management regarding shareholding reductions[28]