Financial Performance - The company's revenue for Q3 2021 was ¥487,076,721.08, representing an increase of 11.57% compared to the same period last year[3]. - The net profit attributable to shareholders for Q3 2021 was ¥38,843,007.55, a decrease of 24.75% year-on-year[3]. - The total operating revenue for the third quarter of 2021 was CNY 1,333,045,731.63, an increase of 35.6% compared to CNY 982,916,360.81 in the same period last year[31]. - Net profit for the third quarter reached CNY 111,185,020.35, representing a 12.9% increase from CNY 98,550,786.73 in the previous year[32]. - Basic earnings per share for the quarter were CNY 0.44, compared to CNY 0.39 in the same period last year, indicating a growth of 12.8%[33]. - The company reported a total comprehensive income of CNY 147,799,773.97, up 42.5% from CNY 103,788,916.23 year-on-year[33]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,856,211,144.39, reflecting a growth of 24.64% from the end of the previous year[3]. - The company's total liabilities increased to CNY 1,846,542,438.59, compared to CNY 1,445,224,870.41 in the same period last year, reflecting a growth of 28.0%[30]. - The company’s total equity attributable to shareholders increased by 17.46% to ¥969,014,868.83 compared to the previous year[4]. - The company's cash and cash equivalents increased to ¥530.06 million from ¥344.29 million, reflecting a growth of approximately 54%[27]. - The company's inventory increased by 80.59% to ¥516,100,579.54, attributed to expanded sales and increased stocking[8]. Cash Flow - The company's cash flow from operating activities for the year-to-date period was ¥69,495,138.84, a decrease of 24.46% compared to the previous year[3]. - The net cash flow from operating activities for the current period is ¥69,495,138.84, a decrease of 24.4% compared to ¥92,003,658.95 in the previous period[36]. - Total cash inflow from operating activities is ¥1,395,894,888.49, up 33.6% from ¥1,044,979,046.51 in the previous period[36]. - Cash outflow from operating activities increased to ¥1,326,399,749.65, compared to ¥952,975,387.56 in the previous period, representing a 39.2% increase[36]. - The ending balance of cash and cash equivalents is ¥264,761,792.69, up from ¥162,947,798.12 in the previous period[37]. Shareholder Information - The company plans to issue up to 46,560,150 shares to no more than 35 specific investors, raising a total of no more than RMB 700 million for the construction of optical film production and solar packaging film production bases, as well as to supplement working capital[17]. - The company’s major shareholders include TB Material Limited with 24,311,385 shares and Xiaomi Technology (Wuhan) Co., Ltd. with 11,640,037 shares[13]. - The company’s actual controller, Zhang Yan, holds 50.41% of Ningbo Jiyang Investment Consulting Co., Ltd., which is a major shareholder[13]. - The company has a total of 94 participants in its 2020 restricted stock incentive plan, with a total of 3.6 million shares involved[20]. - The company’s executives are subject to a lock-up period, with 25% of their shares eligible for release each year until the lock-up period ends[16]. Incentive Plans - The company approved the 2020 restricted stock incentive plan, with a total of 3.6 million shares granted, and the initial grant price adjusted from ¥14.60 to ¥14.55 per share[21]. - The number of initial grant recipients was adjusted from 94 to 90, with the total number of restricted shares reduced to 3.545 million[22]. - The total number of restricted shares granted under the incentive plan increased from 3.545 million to 5.3175 million, with the initial grant price adjusted to ¥9.63 per share[23]. - The company had 89 recipients for the first vesting period of the restricted stock incentive plan, with a total of 1,367,100 shares vesting on September 27, 2021[25]. Expenses - The company reported a 72.51% increase in management expenses, totaling ¥65,094,051.65, primarily due to the amortization of equity incentive expenses[10]. - Research and development expenses for the quarter were CNY 83,490,711.02, an increase of 14.5% compared to CNY 73,167,283.56 in the previous year[31]. - The company’s long-term equity investments decreased to ¥81.25 million from ¥94.65 million, a decline of approximately 14.2%[28]. - The company’s intangible assets increased to ¥132.82 million from ¥93.96 million, reflecting a growth of approximately 41.4%[28].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥845,969,010.55, representing a 54.84% increase compared to ¥546,360,858.80 in the same period last year[21]. - The net profit attributable to shareholders for the first half of 2021 was ¥63,720,466.16, up 62.36% from ¥39,247,352.99 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was ¥56,233,191.14, which is a 97.62% increase from ¥28,454,881.25 in the same period last year[21]. - The basic earnings per share for the first half of 2021 was ¥0.27, an increase of 58.82% compared to ¥0.17 in the previous year[21]. - The total assets at the end of the reporting period were ¥2,724,597,880.56, an 18.90% increase from ¥2,291,541,135.06 at the end of the previous year[21]. - The net assets attributable to shareholders at the end of the reporting period were ¥889,876,332.42, a 7.86% increase from ¥824,998,276.24 at the end of the previous year[21]. - The weighted average return on equity for the first half of 2021 was 7.39%, up from 5.63% in the previous year[21]. - The company achieved operating revenue of 845.97 million yuan, a year-on-year increase of 54.84%[33]. - Net profit attributable to the parent company was 63.72 million yuan, up 62.36% compared to the same period last year[33]. - The company reported a total comprehensive income of CNY 70,807,177.78 for the first half of 2021, compared to CNY 49,715,203.40 in the same period of 2020, marking an increase of about 42%[175]. Cash Flow and Investments - The net cash flow from operating activities was negative at -¥27,941,690.46, a decrease of 162.00% compared to a positive cash flow of ¥45,068,013.51 in the same period last year[21]. - The company reported a net cash flow from financing activities of ¥204,992,116.54, a significant increase of 145,719.41%, due to expanded operational scale and liquidity needs[46]. - The cash flow from operating activities showed a net outflow of CNY 27,941,690.46, contrasting with a net inflow of CNY 45,068,013.51 in the first half of 2020[181]. - The net cash flow from investing activities was -¥278,526,395.05, a decrease from -¥41,534,320.00 year-over-year, reflecting increased investment outflows[185]. - The cash inflow from investment activities was CNY 3,030,470.36, while cash outflow was CNY 41,958,714.94, resulting in a net cash outflow of CNY 38,928,244.58[181]. Research and Development - The company focuses on the research, production, and sales of optical films and functional films, aiming to become the largest and most profitable functional film company globally[28]. - The company’s R&D efforts have led to continuous innovation in high-end optical films, enhancing market share and solidifying its leading position[30]. - R&D investment for the reporting period was 53.28 million yuan, an increase of 23.06% year-on-year[39]. - The company holds 104 patents, including 74 invention patents, emphasizing its focus on functional film R&D[39]. - The company is committed to product upgrades and new product development as a key strategy to maintain its competitive edge in the display materials sector[68]. Market and Product Development - The sales of photovoltaic backsheet films and transparent backsheets for bifacial batteries experienced rapid growth, with successful certification from several leading component companies[29]. - The company’s quantum dot films and composite films saw significant growth due to the domestic substitution opportunities in upstream materials[29]. - The company is expanding production capacity for brightness enhancement films, quantum dot films, and composite films to meet increasing demand[30]. - The company is actively optimizing its product structure and expanding its business scope to maximize shareholder returns[32]. - The company is expanding its product offerings to include Mini-LED light diffusion films and solar encapsulation films, enhancing its position in the photovoltaic supply chain[36]. Environmental Compliance - The company is classified as a key pollutant discharge unit by the environmental protection department[87]. - The total emissions of VOCs from the Ningbo Jizhi Technology Co., Ltd. are 18.75 tons, with an annual limit of 65.234 tons, and emissions are within standards[87]. - The company has implemented a waste gas treatment system including zeolite rotary wheel and RTO, ensuring compliance with national and local environmental discharge standards[88]. - The company has established a waste gas treatment facility with active carbon and zeolite adsorption systems to ensure pollutant concentration meets standards[89]. - The company is conducting annual manual monitoring of various pollutants, including total volatile organic compounds and biochemical oxygen demand, to ensure compliance with environmental standards[97][98]. Corporate Governance and Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company has maintained transparency and integrity in its information disclosure practices[102]. - The company has not reported any major environmental penalties or corrective actions[113]. - The total number of restricted shares granted under the incentive plan was adjusted from 3.545 million shares to 5.3175 million shares, with the initial grant quantity adjusted from 3.048 million shares to 4.572 million shares[82]. - Major shareholder Zhang Yan holds 20.11% of the shares, totaling 46,827,256 shares, with a reduction of 15,609,085 shares during the reporting period[143]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts[5]. - The company faces risks from intensified market competition, necessitating ongoing innovation in technology and service to retain market share[68]. - The company has established a modern management system and internal controls, but rapid expansion post-IPO may introduce management risks if not properly addressed[70]. - The company is actively expanding its customer base and enhancing credit management to mitigate the risk of bad debts from accounts receivable[69].

Financial Performance - The company's revenue for Q1 2021 was ¥381,146,585.05, representing a 53.02% increase compared to ¥249,084,499.69 in the same period last year[8] - Net profit attributable to shareholders was ¥32,517,924.99, an increase of 81.13% from ¥17,952,497.74 year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥30,014,710.91, up 93.27% from ¥15,529,676.55 in the previous year[8] - Basic earnings per share rose to ¥0.21, a 75.00% increase compared to ¥0.12 in the same period last year[8] - The company achieved operating revenue of CNY 381,146,585.05, representing a 53.02% increase compared to CNY 249,084,499.69 in the same period last year[18] - Net profit attributable to the parent company was CNY 32,517,900, reflecting an 81.13% growth year-on-year[21] - The net profit for the first quarter reached CNY 35,124,926.80, up from CNY 20,934,309.27 in the same period last year, reflecting a growth of approximately 67.5%[42] - The total profit for the current period is ¥30,078,453.17, compared to ¥2,667,003.15 in the previous period, showcasing improved profitability[46] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,464,558,895.16, reflecting a 7.55% increase from ¥2,291,541,135.06 at the end of the previous year[8] - The company's current assets reached CNY 1,587,773,620.52, up from CNY 1,415,405,145.37 at the end of 2020, indicating an increase of about 12.16%[32] - The total liabilities increased to CNY 1,574,778,883.71 from CNY 1,445,224,870.41, reflecting a rise of approximately 8.95%[34] - The total assets as of the end of the reporting period were CNY 1,827,060,356.27, an increase from CNY 1,738,271,757.05[38] - The total liabilities increased to CNY 1,088,102,902.23 from CNY 1,036,762,557.27, indicating a rise in financial obligations[38] Cash Flow - The company reported a net cash flow from operating activities of -¥19,530,437.45, compared to -¥4,170,108.65 in the same period last year[8] - Cash flow from operating activities showed a net outflow of CNY 19,530,437.45, worsening from a net outflow of CNY 4,170,108.65 in the previous year[20] - The net cash flow from operating activities is -¥19,530,437.45, a decline from -¥4,170,108.65 in the previous period, indicating challenges in cash generation[50] - The cash flow from operating activities was not detailed in the provided content[54] Shareholder Information - The total number of shareholders at the end of the reporting period was 8,367[11] - The largest shareholder, Zhang Yan, holds 20.11% of the shares, with 31,218,171 shares, of which 23,413,628 are pledged[11] Research and Development - Research and development expenses increased by 78.64% to CNY 28,776,209.61, driven by higher investment in R&D activities[18] - Research and development expenses for the quarter were CNY 28,776,209.61, up from CNY 16,108,196.68, indicating a focus on innovation and product development[41] - Research and development expenses increased to ¥13,369,104.95 from ¥7,207,019.19, reflecting the company's commitment to innovation[45] Investment and Financing - The company reported a significant increase in investment income, which rose by 129.52% to CNY 2,463,401.52, due to higher profits from joint ventures[19] - The company reported investment income of CNY 2,463,401.52, compared to CNY 1,073,293.68 in the previous year, highlighting improved returns from investments[41] - The company received 225,000,000.00 CNY in cash from borrowings, an increase from 180,000,000.00 CNY in the previous period[54] - The company has withdrawn its application for a specific stock issuance, indicating a strategic shift in its financing approach[22] Inventory and Expenses - The company's inventory rose by 32.47% to CNY 378,562,297.67, attributed to expanded business scale and stockpiling[18] - The total operating costs amounted to CNY 346,251,223.14, compared to CNY 227,321,846.45 in the prior year, indicating a significant rise in expenses[41] - The company's total operating expenses increased significantly, with costs rising to ¥300,168,727.41 from ¥191,830,484.40, impacting overall profitability[45] Other Financial Metrics - The weighted average return on equity was 3.85%, up from 2.61% in the previous year[8] - The company's total equity as of March 31, 2021, was CNY 889,780,011.45, up from CNY 846,316,264.65, indicating an increase of approximately 5.14%[35] - The company's long-term borrowings rose to CNY 60,000,000.00 from CNY 30,000,000.00, showing a 100% increase in long-term debt[38] - Long-term borrowings increased by 42.86% to CNY 100,000,000.00, reflecting the company's strategy to secure additional financing[18] Cash Management - Cash and cash equivalents at the end of the period totaled ¥198,214,027.62, down from ¥249,767,153.98 in the previous period, reflecting cash management challenges[51] - The ending balance of cash and cash equivalents increased to 89,864,328.49 CNY from 75,555,084.14 CNY in the previous period[54] - The company’s financial expenses increased to ¥4,976,725.78 from ¥2,711,971.54, primarily due to higher interest expenses[45] Audit and Compliance - The first quarter report was not audited[56] - The company did not apply the new leasing standards for the first quarter of 2021[55]

Financial Performance - The company's operating revenue for 2020 was ¥1,420,171,894.07, representing a 29.55% increase compared to ¥1,096,211,086.27 in 2019[20]. - The net profit attributable to shareholders for 2020 was ¥136,762,723.32, a significant increase of 111.52% from ¥64,658,514.11 in 2019[20]. - The net profit after deducting non-recurring gains and losses was ¥111,655,048.55, up 186.11% from ¥39,025,172.96 in 2019[20]. - The company's cash flow from operating activities for 2020 was ¥153,475,380.90, an increase of 27.02% compared to ¥120,830,682.06 in 2019[20]. - The total assets at the end of 2020 were ¥2,291,541,135.06, reflecting a 15.07% increase from ¥1,991,483,275.79 at the end of 2019[20]. - The company achieved a basic earnings per share of ¥0.88 in 2020, which is a 109.52% increase from ¥0.42 in 2019[20]. - The total revenue for the year 2020 was CNY 1,420,171,894.07, representing a year-on-year increase of 29.55% compared to CNY 1,096,211,086.27 in 2019[56]. - Main business revenue accounted for CNY 1,408,081,992.57, which is 99.15% of total revenue, with a year-on-year growth of 29.47%[56]. - The gross profit margin for optical films was 28.74%, showing a slight increase of 0.49% compared to the previous year[59]. - The gross profit margin for solar backboards was 19.13%, with an increase of 1.84% year-on-year[59]. Research and Development - The company is focused on continuous R&D investment to launch new products and maintain competitiveness in the market[6]. - The company plans to continue investing in R&D and innovation to maintain its leading position in the high-end display film market[31]. - The company has obtained a total of 94 patents, including 67 invention patents, emphasizing its focus on R&D and innovation[49]. - The company has successfully developed and mass-produced new products such as quantum dot films and composite optical films, enhancing its market share in high-end display materials[32]. - The company is actively pursuing opportunities in the photovoltaic sector, including the development of encapsulation films, to leverage growth in renewable energy[89]. - The company has a diverse management team with backgrounds in engineering, finance, and research, enhancing its strategic capabilities[164][165][166]. Market Position and Strategy - The company has positioned itself as a leader in the domestic optical film market, overcoming technological and quality barriers that have historically been dominated by foreign companies[34]. - The optical film industry is expected to maintain rapid growth, driven by domestic demand and supportive national industrial policies[7]. - The company is benefiting from the domestic substitution opportunities in upstream materials for display applications, leading to increased market share in high-end optical films[31]. - The company aims to enhance its market share in high-end optical films and plans to expand its product offerings, including composite films and quantum dot films, to capture emerging market opportunities[87]. - The company is leveraging government support for the LCD industry to foster growth in the optical film sector, benefiting from the shift of the supply chain to domestic production[32]. Competition and Risks - The company faces risks from increasing competition in the optical film industry, which may affect market share if it fails to innovate and improve product quality[7]. - The company acknowledges the risk of bad debts due to the increasing scale of accounts receivable, which may rise with the expansion of its business[9]. - The company has experienced a continuous decline in gross profit margin due to price pressures from downstream manufacturers in the consumer electronics sector, which has led to a downward trend in market prices for optical films[5]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of RMB 1 per 10 shares and a capital reserve increase of 5 shares for every 10 shares held, based on a total of 155,200,500 shares[10]. - The cash dividend for 2020 represents 11.35% of the net profit attributable to the company's ordinary shareholders, which is RMB 136,762,723.32[100]. - The total distributable profit for the year was RMB 207,439,430.70, with the cash dividend accounting for 100% of the profit distribution[96]. - The company has consistently adhered to its cash dividend policy, ensuring compliance with its articles of association and shareholder resolutions[96]. - The cash dividend distribution plan for 2020 is subject to approval at the upcoming shareholders' meeting[98]. Internal Control and Governance - The company has maintained effective internal controls without any reported failures in compliance or regulatory functions[199]. - The company’s audit committee confirmed that the external auditor conducted the audit objectively and issued an unqualified opinion on the annual financial report[195]. - The company has established a commitment to ensure that the remuneration of directors and senior management is linked to the execution of the company's performance recovery measures[105]. - The company has a complete set of production systems and legally owns essential assets related to its operations, including land, buildings, and equipment[189]. - The company maintains a governance structure that complies with relevant laws and regulations, ensuring transparency and accountability[184]. Employee and Talent Management - The total number of employees in the company is 654, with 318 in the parent company and 336 in major subsidiaries[178]. - The company has implemented a training plan that includes online courses and various educational training projects[180]. - The company respects and protects employee rights, providing regular health check-ups and training programs[138]. - The company has established a performance evaluation system linking senior management performance to compensation[186]. Investment and Financial Activities - The company has increased its production capacity for optical films, leading to improved sales and performance growth[32]. - The company's equity investments increased by ¥35,642,799.65, a growth of 37.06%, primarily due to investments in Jujia Technology and recognition of investment income from joint ventures[35]. - The company reported a related party transaction involving the purchase of materials and warehouse leasing, with a transaction amount of 11,477,000 RMB, accounting for 11.61% of the same type of transactions[121]. - The company did not engage in any asset or equity acquisition or sale transactions during the reporting period[122].

Financial Performance - Operating revenue for the reporting period reached CNY 436,555,502.01, a year-on-year increase of 41.45%[7] - Net profit attributable to shareholders increased by 65.35% to CNY 51,618,337.42 for the reporting period[7] - The net profit after deducting non-recurring gains and losses rose by 81.44% to CNY 46,370,839.31[7] - Basic earnings per share increased by 65.00% to CNY 0.33[7] - The net profit for the year-to-date period increased by 84.77% to CNY 90,865,690.41[7] - Total operating revenue for Q3 2020 reached ¥436,555,502.01, a significant increase from ¥308,636,538.46 in the same period last year[39] - Net profit for Q3 2020 was ¥54,073,712.83, compared to ¥32,286,790.53 in Q3 2019, reflecting a growth of approximately 67.5%[41] - The net profit from continuing operations for Q3 2020 was ¥16,121,746.22, compared to a net loss of ¥4,816,704.92 in the same period last year[53] - The total profit for the current period was CNY 14.19 million, compared to CNY 7.67 million in the previous period, reflecting an increase of 84.5%[46] - The company achieved a net profit attributable to the parent company of CNY 90.87 million, up from CNY 49.18 million, indicating an increase of 84.9%[48] Assets and Liabilities - Total assets increased by 8.26% to CNY 2,155,954,270.25 compared to the end of the previous year[7] - The company's total assets increased to ¥1,705,583,301.01 from ¥1,586,272,010.45 year-over-year[37] - Total liabilities increased to CNY 1,366,851,196.86 from CNY 1,295,685,913.63, which is an increase of approximately 5.5%[33] - Total liabilities rose to ¥1,124,429,457.24, compared to ¥1,027,056,837.41 in the same period last year[37] - The company's equity attributable to shareholders rose to CNY 768,180,065.15 from CNY 677,824,159.77, showing an increase of about 13.3%[34] Cash Flow - Cash flow from operating activities increased by 87.11% to CNY 46,935,645.44 for the reporting period[7] - Cash inflow from operating activities amounted to ¥1,044,979,046.51, up from ¥823,058,529.99 in Q3 2019, representing a year-over-year increase of approximately 27%[56] - The net cash flow from operating activities was ¥92,003,658.95, a recovery from a net outflow of ¥28,404,723.29 in the same quarter last year[56] - Cash and cash equivalents at the end of Q3 2020 totaled ¥162,947,798.12, compared to ¥77,909,988.14 at the end of Q3 2019, indicating a year-over-year increase of approximately 109%[57] - The company reported cash outflows from investing activities of ¥45,196,806.71, down from ¥58,003,056.29 in the previous year[57] - Cash inflow from financing activities was ¥700,569,227.32, compared to ¥934,000,000.00 in Q3 2019, reflecting a decrease of about 25%[57] - The net cash flow from financing activities was negative at -¥32,227,500.42, contrasting with a positive net flow of ¥89,844,012.19 in the same quarter last year[57] Shareholder Information - The company reported a total of 8,785 common shareholders at the end of the reporting period[11] - The largest shareholder, Zhang Yan, holds 20.11% of the shares, with 31,218,171 shares, of which 23,413,628 are pledged[11] Research and Development - Research and development expenses for Q3 2020 were ¥29,869,854.56, up from ¥19,904,749.04 in Q3 2019, indicating a focus on innovation[40] - Research and development expenses amounted to CNY 73.17 million, an increase of 26.3% compared to CNY 57.98 million in the previous period[47] Other Financial Metrics - The weighted average return on equity improved to 6.97%, up by 2.17% from the previous year[7] - The company reported a significant decrease in credit impairment losses, improving by 77.84% to -¥1,499,942.86 from -¥6,767,806.15[16] - The company recorded a credit impairment loss of CNY -3.63 million, an improvement from CNY -5.05 million in the previous period[46] - The total comprehensive income of CNY 103.79 million, compared to CNY 52.21 million in the previous period, marking a growth of 98.7%[49]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 546,360,858.80, representing a 25.91% increase compared to CNY 433,945,029.01 in the same period last year[16]. - The net profit attributable to shareholders of the listed company was CNY 39,247,352.99, a significant increase of 118.51% from CNY 17,961,632.77 in the previous year[16]. - The net profit after deducting non-recurring gains and losses reached CNY 28,454,881.25, up 182.38% from CNY 10,076,685.77 year-on-year[16]. - The basic earnings per share increased to CNY 0.25, reflecting a growth of 108.33% compared to CNY 0.12 in the same period last year[16]. - The company achieved a revenue of 546.36 million yuan, a year-on-year increase of 25.91%, and a net profit of 39.25 million yuan, up 118.51% compared to the previous year[36]. - Operating profit for the first half of 2020 was CNY 58,024,043.47, up from CNY 23,897,922.05 in the first half of 2019, representing a growth of 142.5%[139]. - The company reported a total comprehensive income of CNY 49,715,203.40 for the first half of 2020, significantly higher than CNY 19,925,179.87 in the previous year[140]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,101,237,560.86, a 5.51% increase from CNY 1,991,483,275.79 at the end of the previous year[16]. - The total liabilities as of June 30, 2020, were CNY 1,374,547,020.31, up from CNY 1,295,685,913.63, which is an increase of approximately 6.09%[131]. - The company's equity attributable to shareholders increased to CNY 708,222,907.72 from CNY 677,824,159.77, marking a rise of about 4.48%[132]. - The company's short-term borrowings stood at CNY 711,472,509.71, accounting for 33.86% of total liabilities, with no significant changes noted[51]. Cash Flow - The net cash flow from operating activities was CNY 45,068,013.51, a significant recovery from a negative cash flow of CNY -53,488,920.17 in the same period last year[16]. - The net cash flow from operating activities improved significantly to ¥45,068,013.51, compared to a negative cash flow of ¥53,488,920.17 in the previous period, mainly due to increased discounting of bills[44]. - The company reported a net cash flow from investing activities of -¥41,534,320.00, worsening from -¥32,564,980.60 in the previous period[150]. Research and Development - R&D investment reached 43.30 million yuan, a 13.71% increase year-on-year, with a total of 77 patents obtained, including 56 invention patents[40]. - The company emphasizes continuous R&D and product upgrades to maintain its competitive edge in the optical film market[68]. - The company has successfully developed and launched new products, including reflective strips for backsheet materials, which are expected to achieve mass production soon[24]. Market Position and Strategy - The company focuses on the research, production, and sales of optical films and functional films, aiming to become the largest and most profitable functional film company globally[23]. - The optical film industry is experiencing a shift towards domestic production due to rising labor costs abroad and increasing demand for consumer electronics in China[26]. - The company is positioned to benefit from the strong growth in the LCD industry, with continued demand for LCD televisions expected to drive market growth[27]. - The company achieved a leading global market share in diffusion films and significant growth in brightness enhancement films and high-end optical films during the reporting period[24]. Risks and Challenges - The company faces risks including declining gross margins, intensified market competition, and potential bad debts from accounts receivable[4]. - The company faces risks related to declining gross margins due to competitive pricing pressures in the optical film industry[66]. - The company is expanding rapidly, which may introduce management risks if organizational structures are not adjusted accordingly[69]. Shareholder Information - The total number of shares is 155,200,500, with 39,551,945 shares under limited sale conditions after a reduction of 4,524,375 shares[108]. - Zhang Yan holds 20.11% of shares, with a total of 31,218,171 shares, and has 7,804,543 shares pledged[110]. - The total number of common shareholders at the end of the reporting period is 10,517[110]. Corporate Governance - The company held two shareholder meetings during the reporting period, with participation rates of 33.94% and 40.73%[73]. - The company has implemented a restricted stock incentive plan involving 3.6 million shares, with 3.103 million shares initially granted to 94 participants[81]. - There were no major litigation or arbitration matters during the reporting period[79]. Accounting and Financial Policies - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, reflecting the company's financial position as of June 30, 2020[173]. - The company has implemented specific accounting policies and estimates based on its operational characteristics, including the treatment of financial instruments and revenue recognition[172].

Financial Performance - Total revenue for Q1 2020 was ¥249,084,499.69, an increase of 18.47% compared to ¥210,244,291.17 in the same period last year[7] - Net profit attributable to shareholders was ¥17,952,497.74, representing a 68.85% increase from ¥10,632,202.15 year-on-year[7] - Net profit excluding non-recurring gains and losses was ¥15,529,676.55, up 96.68% from ¥7,895,760.82 in the previous year[7] - Basic earnings per share increased to ¥0.12, a rise of 71.43% compared to ¥0.07 in the same period last year[7] - The company achieved operating revenue of 249.08 million yuan, an increase of 18.47% compared to the same period last year[17] - Net profit attributable to the parent company was 17.95 million yuan, representing a growth of 68.85% year-on-year[17] - The total comprehensive income for Q1 2020 was CNY 20,934,309.27, compared to CNY 12,174,170.69 in the same period last year, reflecting a growth of approximately 72.2%[35] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,116,976,627.39, reflecting a 6.30% increase from ¥1,991,483,275.79 at the end of the previous year[7] - Current assets totaled CNY 1,291,425,845.48, up from CNY 1,179,625,579.59, indicating an increase of about 9.5%[25] - Total liabilities increased to CNY 1,400,244,955.97 from CNY 1,295,685,913.63, which is an increase of approximately 8.1%[27] - The company's equity attributable to shareholders reached CNY 695,776,657.51, up from CNY 677,824,159.77, showing a growth of about 2.8%[28] - Total liabilities amounted to 1,295,685,913.63 CNY, with current liabilities totaling 1,190,848,629.85 CNY[50] Cash Flow - The net cash flow from operating activities was -¥4,170,108.65, an improvement of 94.20% compared to -¥71,938,442.27 in the same period last year[7] - Cash received from operating activities rose by 464.65% to 17,721,092.26 yuan, attributed to increased deposits from acceptance business[16] - The company incurred a total operating cash outflow of CNY 300,641,729.36, compared to CNY 345,256,541.17 in the previous year[42] - The company raised CNY 275,282,413.89 from financing activities, an increase from CNY 185,000,000.00 in the previous year[43] - The financing activities generated a net cash flow of 233,317,509.28 CNY, a substantial increase from 70,100,124.85 CNY in the previous year[46] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 12,245[10] - The largest shareholder, Zhang Yan, holds 20.11% of the shares, with 31,218,171 shares, of which 23,413,628 are pledged[10] Expenses and Costs - Total operating costs for Q1 2020 were CNY 227,321,846.45, up from CNY 194,826,589.32, indicating an increase of about 16.6%[33] - Research and development expenses for Q1 2020 amounted to CNY 16,108,196.68, compared to CNY 14,780,547.63 in the previous period, an increase of about 9%[33] - Tax and additional charges increased by 72.74% to 841,993.46 yuan due to higher sales during the reporting period[14] - Financial expenses decreased by 48.97% to 4,753,066.17 yuan, primarily due to exchange rate fluctuations[14] Investments - Long-term equity investments grew by 37.99% to 89,926,585.15 yuan, reflecting investments in Ningbo Jujia[14] - The company reported investment income of CNY 1,073,293.68 for Q1 2020, significantly higher than CNY 180,521.82 in the previous year, indicating a growth of over 495%[33] Other Income - The company reported non-recurring gains of ¥2,422,821.19 during the reporting period[8] - The company’s other income increased by 44.03% to 3,186,674.63 yuan, mainly due to higher government subsidies received[14] Future Plans and Standards - The company plans to grant up to 3.6 million restricted stock options under the 2020 incentive plan, with 3.103 million shares for initial grant[17] - The company has adopted new revenue and leasing standards starting in 2020, which may impact future financial reporting[47] - The company has not yet audited the first quarter report, indicating that the figures are preliminary[53]

Financial Performance - The company's operating revenue for 2019 was ¥1,096,211,086.27, representing a 20.67% increase compared to ¥908,443,997.71 in 2018[20]. - The net profit attributable to shareholders for 2019 was ¥64,658,514.11, a 51.67% increase from ¥42,630,680.08 in 2018[20]. - The company's total assets at the end of 2019 were ¥1,991,483,275.79, up 4.88% from ¥1,898,897,869.41 at the end of 2018[20]. - The company achieved a basic earnings per share of ¥0.42 in 2019, reflecting a 55.56% increase from ¥0.27 in 2018[20]. - The company's net profit after deducting non-recurring gains and losses for 2019 was ¥39,025,172.96, a 21.27% increase from ¥32,181,156.37 in 2018[20]. - The gross margin for 2019 was reported at 45%, an increase from 42% in 2018, reflecting improved operational efficiency[95]. - The company reported a total revenue of 1.5 billion RMB for the year 2019, representing a year-on-year growth of 20%[94]. Cash Flow and Investments - The net cash flow from operating activities for 2019 was ¥120,830,682.06, a significant recovery from a negative cash flow of ¥33,955,611.71 in 2018[20]. - Operating cash inflow increased by 30.35% to ¥1,071,304,285.02, attributed to expanded sales scale[63]. - Total cash and cash equivalents increased by ¥78,168,185.91, reversing a decrease of ¥6,066,230.60 in the previous year[63]. - The company reported a significant decrease in investment amounting to CNY 30,600,000, down 58.57% from the previous year's investment of CNY 73,860,000[73]. - The company has increased its prepayments by 11,280,570.10 CNY, a rise of 251.13%, due to higher material procurement payments[35]. Research and Development - The company invested 84.54 million yuan in R&D, representing an 18.66% increase compared to the previous year[46]. - The company conducted 56 new R&D projects in 2019, focusing on optical functional films and solar backsheet films[60]. - The company has accumulated 64 patents, including 49 invention patents, enhancing its innovation capabilities[46]. - The company plans to invest 200 million RMB in R&D for new technologies in 2020, aiming to improve product efficiency by 15%[94]. - The company plans to further develop high-end optical films and expand its product offerings in the renewable energy sector[44]. Market and Product Development - The company plans to continue focusing on R&D and innovation to maintain its leading position in the high-end display film market[30]. - The company has seen rapid growth in its photovoltaic backsheet film products, which have been certified by several leading companies in the industry[31]. - The company has successfully launched new high-end optical films, including quantum dot films and composite optical films, enhancing market share and solidifying its leading position in the global high-end display film market[32]. - The company is actively pursuing market expansion and new product development in the functional film sector[44]. - The company has successfully launched dual and triple composite optical films, which are expected to be significant profit growth points in the future[37]. Shareholder and Dividend Information - The company plans to distribute a cash dividend of 0.5 RMB per 10 shares (including tax) based on a base of 155,200,500 shares, with no bonus shares issued[10]. - The company has consistently distributed cash dividends over the past three years, with the 2018 and 2019 dividends both being RMB 7,760,025[92]. - The company aims to become the "largest, most profitable, and most respected functional film company globally" as part of its strategic development[80]. Corporate Governance and Compliance - The company has maintained compliance with corporate governance standards, ensuring that its governance structure aligns with regulatory requirements[177]. - The company has established a robust information disclosure system, ensuring timely and accurate communication with investors[179]. - The audit committee confirmed that the external auditor provided an unqualified opinion on the annual financial report, ensuring compliance with auditing standards[189]. - The company has not engaged in any related party transactions that would constitute unfair competition with the controlling shareholder[183]. - The company has committed to not transferring benefits to other entities or individuals under unfair conditions, ensuring the protection of shareholder interests[101]. Employee and Management Information - The total number of employees in the company is 647, with 314 in the parent company and 333 in major subsidiaries[170]. - The company has implemented various training programs focusing on R&D, technology, and sales teams, enhancing professional skills and internal communication[173]. - The total remuneration for directors and senior management during the reporting period amounts to 409.7万元[169]. - The remuneration for the chairman and general manager, Zhang Yan, is 53.5万元[168]. Strategic Outlook - The company provided a performance guidance for 2020, projecting a revenue growth of 25% compared to 2019[94]. - Future guidance suggests a projected revenue growth of approximately 15% for the upcoming fiscal year, driven by new product launches and market expansion efforts[159]. - The company plans to maintain a cash dividend of RMB 0.5 per share for 2019, totaling RMB 7,760,025, which represents 12% of the net profit attributable to ordinary shareholders[92].

Financial Performance - Net profit attributable to shareholders rose by 50.22% to CNY 31,217,029.33 for the reporting period[8] - Operating revenue for the period was CNY 308,636,538.46, reflecting an 8.50% increase year-on-year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 14.45% to CNY 35,634,002.26 year-to-date[8] - Basic earnings per share increased by 53.85% to CNY 0.20 for the reporting period[8] - The weighted average return on net assets was 4.80%, an increase of 1.34% compared to the previous year[8] - The company reported a significant decrease in investment income by 77.10% to ¥377,484.53 from ¥1,648,522.71, due to lower profits from associated enterprises[18] - The net profit for Q3 2019 reached CNY 32,286,790.53, up from CNY 20,311,902.43 in the same period last year, representing a growth of approximately 59%[37] - The total profit for Q3 2019 was CNY 38,017,476.68, an increase from CNY 22,518,201.60 in the previous year[39] - The company reported a decrease in operating profit to CNY 39,384,648.66 from CNY 19,182,014.17 in the previous period[39] Assets and Liabilities - Total assets increased by 3.64% to CNY 1,967,961,034.79 compared to the end of the previous year[8] - Total liabilities amounted to CNY 1.03 billion, down from CNY 1.05 billion, indicating a decrease of 1.3%[32] - The equity attributable to shareholders increased to CNY 662.22 million from CNY 620.43 million, marking a growth of 6.7%[28] - Total assets amounted to CNY 1,898,897,869.41, with current assets at CNY 1,065,287,635.84 and non-current assets at CNY 833,610,233.57[60] - Total liabilities reached CNY 1,264,179,280.16, with current liabilities at CNY 1,144,363,603.65 and non-current liabilities at CNY 119,815,676.51[62] - The total liabilities and owner's equity matched the total assets at CNY 1,898,897,869.41[62] Cash Flow - The company reported a net cash flow from operating activities of CNY -28,404,723.29, a decrease of 4.12% year-on-year[8] - The total cash flow from operating activities was ¥787,154,980.39, compared to ¥234,021,146.66 in the previous period[51] - The net cash flow from operating activities was -28,404,723.29 CNY, compared to -29,623,943.22 CNY in the previous period, indicating a slight improvement[52] - Cash outflow from operating activities totaled 851,463,253.28 CNY, compared to 299,892,564.50 CNY previously, reflecting increased operational expenses[52] - Cash inflow from financing activities was 934,000,000.00 CNY, up from 668,500,000.00 CNY in the previous period, indicating increased borrowing[53] Shareholder Information - The total number of shareholders at the end of the reporting period was 9,895[12] - The largest shareholder, Zhang Yan, holds 20.11% of the shares, with 31,218,171 shares pledged[12] Expenses - Financial expenses grew by 66.47% to ¥23,195,075.27 from ¥13,933,600.38, attributed to increased bank loans due to expanded operations[17] - Tax expenses rose by 49.15% to ¥9,851,561.95 from ¥6,605,300.98, mainly due to increased profits during the reporting period[18] - Research and development expenses increased to CNY 19.90 million, up from CNY 17.34 million, reflecting a growth of 14.9%[35] - Research and development expenses were ¥57,983,025.90, an increase of 8.5% from ¥53,219,346.20 year-on-year[42] Other Financial Metrics - Cash and cash equivalents increased by 57.73% to ¥228,772,663.35 from ¥145,044,928.60 due to expanded sales and increased bank deposits[16] - Prepayments surged by 397.18% to ¥22,333,097.65 from ¥4,491,986.34, primarily driven by increased material payments[16] - Other receivables rose by 108.44% to ¥22,550,395.25 from ¥10,818,881.50, reflecting business development needs[16] - Inventory decreased to CNY 87.49 million from CNY 117.80 million, a decline of 25.7%[30] - The company incurred a credit impairment loss of CNY 6,727,475.05 during the quarter[39] Audit Status - The third quarter report was not audited[67]

Financial Performance - Total revenue for the reporting period was ¥433,945,029.01, an increase of 21.25% compared to ¥357,884,140.43 in the same period last year[22]. - Net profit attributable to shareholders was ¥17,961,632.77, a decrease of 29.84% from ¥25,602,635.00 in the previous year[22]. - The net profit after deducting non-recurring gains and losses was ¥10,076,685.77, down 59.04% from ¥24,599,286.29 year-on-year[22]. - The net cash flow from operating activities was -¥53,488,920.17, a decline of 165.29% compared to -¥20,162,689.29 in the previous year[22]. - The total assets at the end of the reporting period were ¥1,948,482,094.26, an increase of 2.61% from ¥1,898,897,869.41 at the end of the previous year[22]. - The company achieved a revenue of 433.95 million yuan, representing a year-on-year growth of 21.25%[41]. - The net profit attributable to the parent company was 17.96 million yuan, a decrease of 29.84% compared to the same period last year[41]. - The company reported a net profit of CNY 10,201,608.38 for the first half of 2019, compared to CNY 9,000,000.00 for the same period in 2018, indicating a growth of approximately 13.4%[127]. - The company reported a comprehensive income total of RMB 7,273,775.58 for the current period[161]. Accounts Receivable and Management - The company's accounts receivable amounted to CNY 469.15 million at the end of 2018 and CNY 440.43 million at the end of June 2019, representing 44.04% and 39.00% of current assets, respectively[8]. - The company acknowledges the risk of bad debts due to the increasing scale of accounts receivable and potential changes in the macroeconomic environment[9]. - The company plans to continue expanding its customer base and strengthen credit reviews and accounts receivable management to mitigate bad debt risks[71]. - Accounts receivable rose to ¥440,434,811.13, accounting for 22.60% of total assets, compared to 19.89% previously, due to expanded sales[55]. - The company reported accounts receivable of 469.15 million yuan at the end of 2018 and 440.43 million yuan at the end of June 2019, accounting for 44.04% and 39.00% of current assets respectively[71]. Research and Development - The company invested RMB 38.08 million in R&D during the first half of 2019, an increase of 6.53% compared to the same period last year[45]. - The company has committed to continuous R&D investment to maintain product competitiveness and stabilize gross margin levels[69]. - The company is focusing on the development of new products such as quantum dot films and OLED materials to capture market trends[36]. - The company has obtained a total of 55 patents, including 49 invention patents, as of the end of the reporting period[45]. - The company’s investment in OLED materials has led to the acquisition of over ten domestic and international patents, with mass production already achieved[42]. Market Trends and Competition - The optical film industry is expected to continue expanding rapidly, driven by domestic demand and supportive national policies, which may increase competition in the market[7]. - The company emphasizes the importance of continuous innovation in technology and service to maintain market share amidst intensifying competition[7]. - The company’s optical film products, including diffusion films and high-end optical films, have seen significant growth due to industry trends towards thinner, larger, and higher color gamut displays[30]. - The LCD industry is expected to continue its growth, positively impacting the demand for optical films, as LCD televisions remain dominant in the market[32]. - The company plans to expand its market presence through new product development and technology advancements[166]. Financial Position and Assets - The company's current assets totaled CNY 1,129,423,371.86, up from CNY 1,065,287,635.84 at the end of 2018, indicating an increase of about 6.0%[125]. - The cash and cash equivalents increased to CNY 187,719,403.40 from CNY 145,044,928.60, reflecting a growth of approximately 29.5%[124]. - The total liabilities stood at CNY 1,301,348,324.29, compared to CNY 1,264,179,280.16 at the end of 2018, marking an increase of about 2.9%[127]. - Short-term borrowings rose to CNY 683,000,000.00 from CNY 561,000,000.00, which is an increase of approximately 21.8%[126]. - The company's total equity increased to CNY 647,133,769.97 from CNY 634,718,589.25, showing a growth of about 1.6%[127]. Corporate Governance and Compliance - The company has established a comprehensive modern enterprise management system, but must adapt its management practices to accommodate its growing scale[10]. - The company has not experienced any major litigation or arbitration matters during the reporting period[81]. - The company has not engaged in any asset or equity acquisitions or sales during the reporting period[86]. - The company has not implemented any employee incentive plans during the reporting period[84]. - The company follows specific accounting treatments for mergers and acquisitions, including fair value measurement for non-controlling interests[178]. Environmental and Social Responsibility - The company has implemented ISO14001 certification for environmental management and conducts annual assessments of environmental factors[99]. - The company and its subsidiaries are not classified as key pollutant discharge units by environmental protection authorities[98]. - The company has not faced any significant penalties for violating environmental protection laws during the reporting period[99]. - The company has not engaged in precision poverty alleviation work during the reporting period and has no subsequent plans[100]. Shareholder Information - The total number of shares is 155,200,500, with 39.06% being limited shares[105]. - The total number of common shareholders at the end of the reporting period is 11,522[108]. - Zhang Yan holds 20.11% of shares, totaling 31,218,171 shares, with 990,577 shares pledged[108]. - The company has not reported any changes in shareholding structure or significant share repurchase activities during the reporting period[107]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[110].