Financial Performance - The company's operating revenue for the first half of 2022 was ¥1,030,443,750.17, representing a 21.81% increase compared to ¥845,969,010.55 in the same period last year[22]. - The net profit attributable to shareholders decreased by 39.99% to ¥38,239,881.78 from ¥63,720,466.16 year-on-year[22]. - The net profit after deducting non-recurring gains and losses fell by 62.18% to ¥21,265,777.11 compared to ¥56,233,191.14 in the previous year[22]. - Basic and diluted earnings per share decreased by 44.44% to ¥0.15 from ¥0.27 year-on-year[22]. - The total assets at the end of the reporting period were ¥3,644,271,566.34, a 3.86% increase from ¥3,508,883,590.87 at the end of the previous year[22]. - The net assets attributable to shareholders slightly decreased by 0.37% to ¥1,677,019,116.71 from ¥1,683,273,236.68 at the end of the previous year[22]. - The weighted average return on net assets was 2.24%, down from 7.39% in the previous year, a decrease of 5.15%[22]. - The company achieved operating revenue of 1,030.44 million yuan, a year-on-year increase of 21.81%[36]. - Net profit attributable to the parent company was 38.24 million yuan, a decrease of 39.99% compared to the same period last year[36]. - The company reported a total comprehensive income for the first half of 2022 of CNY 44.91 million, down from CNY 70.81 million in the first half of 2021[178]. Cash Flow and Investments - The net cash flow from operating activities improved significantly to ¥45,051,357.48, a 261.23% increase from -¥27,941,690.46 in the same period last year[22]. - The net cash flow from investment activities was negative at -¥378,385,870.45, a substantial decline of 872.01%, mainly due to investments in bank wealth management products[45]. - The total investment amount during the reporting period was CNY 322,755,050.50, representing a significant increase of 3,143.77% compared to the previous year[57]. - The company reported an investment loss of CNY 576,979.68, compared to a profit of CNY 4.93 million in the same period last year[1]. - Investment cash outflow totaled CNY 433,053,111.70, compared to CNY 41,958,714.94 in the first half of 2021, indicating a substantial increase in investment activities[185]. Research and Development - The company has obtained a total of 133 patents, including 101 invention patents, emphasizing its commitment to R&D[39]. - Research and development expenses increased by 32.56% to ¥70,630,482.77, reflecting the company's commitment to innovation[45]. - The company is focusing on developing a functional film platform based on its core coating technology, with plans for horizontal expansion of new products[35]. - The company emphasizes the importance of new product development to maintain core competitiveness in the optical film industry[75]. - New product development initiatives are underway, targeting a 25% reduction in volatile organic compounds (VOCs) emissions by 2024[103]. Market Position and Product Development - The company is positioned as a leading manufacturer of optical films, benefiting from the domestic substitution opportunities in upstream materials for the display industry[34]. - The company experienced a significant increase in sales of photovoltaic backsheet films and transparent backsheet products, achieving rapid growth during the reporting period[33]. - The company has successfully launched new products, including solar backsheet products, which have seen rapid market acceptance and stable delivery[33]. - The company’s production capacity for composite films has been expanded to meet the growing demand, contributing to revenue growth[35]. - The company is actively expanding new product development and market exploration in the renewable energy sector[36]. Environmental Compliance and Sustainability - The company reported a total VOCs emission of 41.9 mg/m³, which is below the regulatory limit of 150 mg/m³[95]. - The company has implemented a zeolite rotary + RTO waste gas treatment system and a biological purification tower for waste gas disposal[96]. - The company has established a comprehensive waste gas treatment facility to meet national and local environmental protection standards[96]. - The company has completed multiple environmental impact assessments for various projects, including a new optical film production line with a capacity of 15 million square meters annually[99]. - The company is committed to regular monitoring of pollutant emissions to ensure compliance with environmental regulations[98]. Corporate Social Responsibility - The company actively engages in corporate social responsibility, providing free health check-ups for employees and offering training to enhance their skills[109]. - The company has established various scholarships totaling over 1 million yuan to support students in multiple universities, including 250,000 yuan at the Institute of Materials, Chinese Academy of Sciences[111]. - The company donated 200,000 yuan to support the development of the "Zhejiang East Red Village" tourism industry and has previously contributed 100,000 yuan to economic development in Guizhou Province[111]. - The company received the "Volunteer Service Award" at the Ningbo Charity Award event, recognizing its commitment to charitable activities[113]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[83]. - The total number of unrestricted shares increased to 203,307,385, which is 77.57% of the total shares after the recent changes[144]. - Major shareholder Zhang Yan holds 17.87% of the shares, totaling 46,827,256, with 19,645,000 shares pledged[155]. - The company has a total of 13,991 shareholders at the end of the reporting period[153]. - The company confirmed a total of 83,987,779 restricted shares, which accounted for 32.05% of the total shares before the recent changes[144].

Financial Performance - The company's operating revenue for 2021 was RMB 1,924,520,416.90, representing a year-on-year increase of 35.51% compared to RMB 1,420,171,894.07 in 2020[26]. - The net profit attributable to shareholders of the listed company decreased by 12.83% to RMB 119,220,764.35 in 2021 from RMB 136,762,723.32 in 2020[26]. - The basic earnings per share for 2021 was RMB 0.51, down 13.56% from RMB 0.88 in 2020[26]. - The total assets of the company increased by 53.12% to RMB 3,508,883,590.87 at the end of 2021, compared to RMB 2,291,541,135.06 at the end of 2020[27]. - The net cash flow from operating activities was negative at RMB -3,115,213.20 in 2021, a decrease of 102.03% from RMB 153,475,380.90 in 2020[26]. - The company's net assets attributable to shareholders increased by 104.03% to RMB 1,683,273,236.68 in 2021 from RMB 824,998,276.24 in 2020[27]. - The company reported a quarterly revenue of RMB 591,474,685.27 in Q4 2021, with a total annual revenue of RMB 1,924,520,416.90[28]. - The net profit attributable to shareholders in Q4 2021 was RMB 16,657,290.64, showing a decline compared to previous quarters[28]. - The company received government subsidies amounting to RMB 26,581,277.01 in 2021, slightly down from RMB 27,179,403.89 in 2020[31]. - The weighted average return on equity for 2021 was 13.28%, down from 18.22% in 2020[26]. Accounts Receivable and Inventory - The company's accounts receivable at the end of 2021 amounted to 702.57 million yuan, representing 29.03% of total current assets, an increase from 570.69 million yuan or 40.32% at the end of 2020[10]. - The company reported a significant increase in accounts receivable, which poses a risk of bad debts if economic conditions or customer situations change[10]. - Inventory stood at ¥438,087,245.67, maintaining a stable proportion of 12.49% of total assets compared to 12.47% at the beginning of the year[83]. Research and Development - The company emphasizes continuous R&D investment to launch new products and maintain stable gross profit margins despite market price declines[7]. - Research and development expenses amounted to ¥12,315.69 million, marking a 17.82% increase from the previous year, with a total of 123 patents obtained, including 92 invention patents[52]. - The company is actively investing in OLED luminescent materials through its subsidiary, Ningbo LumiBlue New Materials Co., Ltd., to enhance its product offerings[43]. - The company is pursuing new product development in the Mini-LED and OLED sectors, with successful trials for new optical films aimed at improving optical performance[48]. - The company completed key R&D projects, including high-brightness multi-layer composite optical films, which are expected to generate additional sales of ¥100 million and new tax revenue of ¥4.69 million by the end of 2021[69]. Market Position and Competition - The company faces risks from intensified market competition as the display optical film industry is expected to grow rapidly, attracting more competitors[8]. - The company is committed to improving product quality and service levels to retain market share amid increasing competition[8]. - The company has established a strong market position as a leading manufacturer of optical films, with a focus on innovation and product quality[42]. - The company aims to maintain its leading position in optical display materials while actively promoting the mass production of new products and functional films[51]. Product Development and Sales - The company has seen significant growth in sales of photovoltaic backsheet films and double-sided battery transparent backsheet products, which have been certified by leading enterprises in the industry[40]. - The sales of solar backsheet products reached 518.12 million CNY, marking a significant year-on-year growth of 97.37%[46]. - Sales of high-end display optical films, including quantum dot films and composite films, increased by 84.71% to 620.36 million CNY[46]. - The company is actively expanding its product offerings, including the development of POE encapsulation films and OCA optical adhesives, with initial mass production capabilities achieved[48]. - The company is focusing on optimizing its product structure, with high-end optical films accounting for an increasing proportion of total sales[47]. Governance and Management - The company held its annual general meeting with a participation rate of 41.40%, ensuring shareholder engagement and transparency[118]. - The governance structure has been strengthened, with the board comprising nine members, including three independent directors, to enhance decision-making processes[111]. - The company experienced a change in its board with the resignation of two directors and one supervisor due to personal reasons and unfortunate circumstances[122]. - The management team includes professionals with extensive backgrounds in engineering and finance, enhancing the company's strategic capabilities[124][125][126]. Environmental Responsibility - The company is classified as a key pollutant discharge unit by environmental protection authorities[170]. - Total emissions of VOCs from Ningbo Jizhi Technology Co., Ltd. are 18.75 tons, with an annual limit of 65.234 tons, and emissions are within standards[171]. - The company has implemented a waste gas treatment system including zeolite rotary wheel and RTO devices, ensuring compliance with national and local environmental standards[172]. - The company has completed environmental impact assessments for new projects, including the optical film production line[174]. Social Responsibility - The company has established various scholarships, including a 2.5 million RMB scholarship at the Chinese Academy of Sciences and a 1 million RMB scholarship at Northwestern Polytechnical University[187]. - The company donated 500,000 RMB to support the creation of a civilized city in the Juqian Street area and provided thousands of books to children in Liangshan[186]. - The company actively engages in social responsibility, providing free health check-ups for employees and training to enhance their skills[185]. - The company donated 500,000 RMB and protective equipment during the COVID-19 pandemic to support local charities[188]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 20% to 1.44 billion RMB[110]. - The company aims to maintain its leading position in the industry through continuous innovation and quality management[106]. - The company is positioned to benefit from the high growth potential in the photovoltaic and new energy vehicle sectors, leveraging its accumulated R&D and management experience[104].

Financial Performance - The company's operating revenue for Q1 2022 was ¥515,618,538.38, representing a 35.28% increase compared to ¥381,146,585.05 in the same period last year[3] - Net profit attributable to shareholders was ¥37,531,499.72, up 15.42% from ¥32,517,924.99 year-on-year[3] - The company reported a total of ¥12,400,870.20 in other income, significantly higher than ¥3,214,168.46 in the same period last year[24] - The net profit for the first quarter was CNY 40,421,785.47, representing a 15.5% increase from CNY 35,124,926.80 in the previous year[24] - The total operating revenue for the first quarter of 2022 was CNY 515,618,538.38, an increase of 35.3% compared to CNY 381,146,585.05 in the same period last year[23] Cash Flow - The net cash flow from operating activities improved significantly to ¥48,071,148.89, a 346.13% increase from -¥19,530,437.45 in the previous year[9] - The net cash flow from operating activities for Q1 2022 was ¥48,071,148.89, a significant improvement compared to a net outflow of ¥19,530,437.45 in Q1 2021[28] - Total cash inflow from operating activities was ¥513,800,706.15, while cash outflow was ¥465,729,557.26, resulting in a positive cash flow[28] - The net cash flow from investing activities was -¥349,239,518.91, compared to -¥9,695,412.82 in the previous year, indicating increased investment expenditures[28] - Cash inflow from financing activities totaled ¥223,467,908.78, while cash outflow was ¥387,128,170.36, leading to a net cash flow of -¥163,660,261.58[29] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,549,310,626.74, reflecting a 1.15% increase from ¥3,508,883,590.87 at the end of the previous year[4] - The total liabilities decreased slightly to CNY 1,772,525,695.94 from CNY 1,784,919,614.43 year-on-year[21] - The total current assets at the end of the first quarter of 2022 amounted to ¥2,417,219,341.24, slightly down from ¥2,420,460,924.71 at the beginning of the year, indicating a decrease of approximately 0.1%[19] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 12,967[10] - The company reported a total of 35,120,441 shares held by Zhang Yan, with 75% of these shares locked during his term[15] - The company has 12,579,331 shares held by Yu Genwei, with 75% of these shares also locked during his term[15] - The company has a total of 21,208,405 shares held by TB Material Limited, which is the largest shareholder[12] - The company has 10,945,420 shares held by Ningbo Jiyang Investment Consulting Co., Ltd., which is the fourth largest shareholder[12] Operational Insights - The company experienced a 47.30% increase in operating costs, totaling ¥414,316,599.03, due to increased sales volume[9] - The company's fixed assets decreased to ¥530,974,647.28 from ¥545,284,488.87, indicating a decline of about 2.6%[19] - The company is focusing on expanding its market presence and enhancing its product offerings, although specific new products or technologies were not detailed in the report[18] - Future outlook remains cautiously optimistic, with management emphasizing strategic initiatives to improve operational efficiency and market competitiveness[18] Research and Development - Research and development expenses for the quarter were CNY 32,603,042.87, an increase from CNY 28,776,209.61 in the same period last year[24] - The report indicates ongoing efforts in research and development, although specific figures or outcomes were not provided[18] Earnings Per Share - The company's basic earnings per share remained stable at ¥0.14, unchanged from the previous year[3] - The basic and diluted earnings per share remained at CNY 0.14, consistent with the previous year[25]

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]