Financial Performance - The company's revenue for Q1 2022 was ¥697,011,849.26, representing a 41.22% increase compared to ¥493,571,452.38 in the same period last year[3] - Net profit attributable to shareholders was ¥108,487,534.29, an increase of 80.70% from ¥60,038,593.93 year-on-year[3] - Basic earnings per share rose to ¥0.52, up 79.31% from ¥0.29 in the same period last year[3] - Operating profit for the period was ¥123,305,135.09, up 83.1% from ¥67,391,838.71 in the previous year[22] - Total comprehensive income for the period was ¥109,569,267.39, compared to ¥60,301,557.99 in the same quarter last year, marking an increase of 81.7%[22] Cash Flow - The net cash flow from operating activities was ¥127,163,675.68, a significant improvement of 386.33% compared to -¥44,411,036.05 in the previous year[3] - Total cash inflow from operating activities amounted to ¥615,203,431.77, up from ¥396,181,122.11 in the prior period, reflecting a growth of approximately 55.2%[26] - Cash outflow for operating activities was ¥488,039,756.09, compared to ¥440,592,158.16 in the previous period, indicating an increase of about 10.8%[26] - The net cash flow from financing activities was ¥106,322,590.51, a recovery from a net outflow of -¥188,033,061.33 in the previous period[26] - Cash received from borrowings amounted to ¥164,014,472.32, compared to ¥65,078,265.75 in the previous period, reflecting a growth of approximately 152.5%[26] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,394,889,507.87, a 7.61% increase from ¥3,154,713,796.81 at the end of the previous year[3] - Total liabilities increased to ¥1,617,411,720.47, compared to ¥1,491,764,337.65 in the same period last year, reflecting a growth of 8.4%[19] - Non-current liabilities rose to ¥568,817,375.92, up 34.5% from ¥422,737,365.08 in Q1 2021[19] - The company's total equity reached ¥1,777,477,787.40, an increase of 6.8% from ¥1,662,949,459.16 in the previous year[19] Investments and Expenses - Research and development expenses amounted to ¥13,250,073.15, slightly up from ¥12,855,649.69 in the previous year, reflecting ongoing investment in innovation[20] - The company reported a total operating cost of ¥565,531,801.94, which is an increase of 33.3% from ¥424,384,951.96 in Q1 2021[20] - Financial expenses increased by 190.58% to ¥1,566,049.81, primarily due to exchange rate fluctuations[7] Shareholder Information - The company reported a total of 59,911,222 shares under lock-up agreements, with specific details on executive lock-up shares[14] - The top ten unrestricted shareholders hold a total of 56,000,000 shares, with the largest shareholder holding 16,494,690 shares[11] Government Support - The company received government subsidies amounting to ¥1,900,956.65, which are closely related to its normal business operations[5] Other Information - The company has no plans for significant new strategies or mergers and acquisitions announced during the quarter[15] - The company's cash and cash equivalents at the end of the first quarter amounted to CNY 453,250,134.78, up from CNY 402,274,277.19 at the beginning of the year, indicating an increase of about 12.7%[16] - Accounts receivable increased to CNY 550,306,459.77 from CNY 438,445,572.62, representing a growth of approximately 25.5%[17] - The company's inventory decreased to CNY 303,993,536.68 from CNY 360,561,399.70, showing a decline of about 15.7%[17] - Long-term equity investments rose to CNY 58,345,901.82 from CNY 47,449,583.71, marking an increase of approximately 23.4%[17] - The total current assets amounted to CNY 1,537,030,040.89, compared to CNY 1,437,170,322.26 at the beginning of the year, reflecting a growth of about 6.9%[17] - Non-current assets totaled CNY 1,857,859,466.98, up from CNY 1,717,543,474.55, indicating an increase of approximately 8.2%[17]

Financial Performance - The company's operating revenue for 2021 was ¥2,192,805,168.74, representing a 17.78% increase compared to ¥1,861,749,308.55 in 2020[18]. - The net profit attributable to shareholders for 2021 was ¥213,613,956.14, an increase of 8.88% from ¥196,187,719.89 in 2020[18]. - The net profit after deducting non-recurring gains and losses was ¥200,901,439.46, which is a 21.22% increase from ¥165,732,312.64 in 2020[18]. - The net cash flow from operating activities decreased by 56.06% to ¥140,619,642.67 from ¥320,013,995.90 in 2020[18]. - The total assets at the end of 2021 were ¥3,154,713,796.81, a 24.19% increase from ¥2,540,212,366.99 at the end of 2020[18]. - The net assets attributable to shareholders increased by 13.65% to ¥1,656,487,679.47 from ¥1,457,503,003.93 at the end of 2020[18]. - The basic earnings per share for 2021 was ¥1.03, up 8.42% from ¥0.95 in 2020[18]. - The diluted earnings per share also stood at ¥1.03, reflecting the same increase of 8.42% from ¥0.95 in 2020[18]. - The weighted average return on equity for 2021 was 13.99%, slightly down from 14.37% in 2020[18]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of ¥3.00 per 10 shares, with a capital reserve conversion of 5 shares for every 10 shares held[4]. - The company reported a net profit of RMB 215,706,846.13 for the 2021 fiscal year, with a distributable profit of RMB 922,533,354.75[143]. - The cash dividend for 2021 was set at RMB 3.00 per 10 shares (including tax), amounting to RMB 62,011,800[144]. - The company’s cash dividend distribution accounted for 100% of the total distributable profit[141]. Market Position and Industry Trends - The company achieved a total revenue of 667.03 billion USD in the global crop protection market, with a compound annual growth rate of 3% from 2018 to 2023[29]. - The domestic pesticide industry is undergoing significant transformation, with increased demand for green pesticides and a rise in prices due to supply constraints and environmental policies[30]. - The company holds a leading position in several niche markets, including chlorfenapyr and thiamethoxam, and has received multiple industry awards for its performance[31]. - The company is positioned in a growth phase within the pesticide industry, which is characterized by cyclical trends influenced by upstream petrochemical industries[30]. - The company has seen an increase in international demand for its pesticides, particularly raw materials, leading to a supply-demand imbalance in 2021[30]. Research and Development - The company has established a complete R&D system and has been recognized as a high-tech enterprise since 2010, with a focus on product innovation and technology[36]. - The company is focused on the research, development, production, and sales of new high-efficiency and low-toxicity pesticides[32]. - The company holds 67 patents and has 69 patent applications accepted by the national patent office, indicating strong R&D capabilities[53]. - The company is currently conducting trials for several new products, including new green herbicides and insecticides, aimed at increasing future profit growth points[71]. - The company is investing in research and development to expand its product offerings, with a focus on innovative formulations and effective pest control solutions[45]. Production and Capacity - The company's main products are chemical pesticides, with a production capacity of 8,450 tons/year for active ingredients and 3,000 tons/year for formulations, achieving utilization rates of 79.42% and 29.75% respectively[39]. - The company is currently constructing an additional production capacity of 15,500 tons/year for active ingredients[39]. - The company has implemented several technology renovation projects aimed at increasing capacity and reducing emissions, achieving good economic and social benefits[53]. Environmental and Safety Management - The company emphasizes environmental protection and safety as key components of its sustainable development strategy[163]. - The company has established a comprehensive environmental management system, including regulations for wastewater discharge and pollution incident emergency plans[156]. - The company has taken measures to ensure compliance with environmental standards, with no instances of exceeding discharge limits reported[155]. - The company has a dedicated safety management department with 20 personnel, including 7 registered safety engineers, responsible for safety management[164]. - The company has conducted emergency response drills for environmental incidents to ensure preparedness[160]. Governance and Compliance - The company has established a robust governance structure, complying with relevant laws and regulations, ensuring independent operation from its controlling shareholders[102]. - The board of directors consists of 5 members, including 2 independent directors, ensuring compliance with governance standards[103]. - The company has maintained effective internal control over financial reporting, with no significant deficiencies identified as of the evaluation report date[151]. - The company has established independent operational management structures, ensuring no overlap with its controlling shareholders[108]. - The company has a policy for determining remuneration based on profitability and performance metrics[124]. Risks and Challenges - The company faces significant risks from raw material supply and price fluctuations, which impact operating costs and gross margins[97]. - Environmental protection and safety production risks are present due to the nature of the pesticide industry, with potential impacts on operations from regulatory actions[98]. - The company will seek to raise funds through internal accumulation, capital markets, and bank loans to support its expanding operations[96]. Employee and Management Structure - The total number of employees at the end of the reporting period is 1,609, with 978 in the parent company and 631 in major subsidiaries[135]. - The professional composition includes 847 production personnel, 55 sales personnel, 405 technical personnel, 19 financial personnel, and 283 administrative personnel[135]. - The company has a performance-based compensation system that encourages employees to improve their professional skills and work performance[136]. - The management team has undergone significant changes, with several new appointments aimed at bringing fresh perspectives to the company's strategic direction[114]. Strategic Initiatives - The company is focused on expanding its product offerings and enhancing production capabilities to meet market demand[42]. - The company plans to lower manufacturing costs and improve labor productivity through technological transformation and internal optimization[95]. - The company aims to enhance its research and development capabilities by increasing investment in R&D facilities and projects[95]. - The company is actively investing in new product development, particularly in the technology sector, aiming to launch at least three new products in the next fiscal year[114].

江苏中旗科技股份有限公司 2021 年第三季度报告 证券代码：300575 证券简称：中旗股份 公告编号：2021-056 江苏中旗科技股份有限公司 2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准 确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带 的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声 明：保证季度报告中财务信息的真实、准确、完整。 3.第三季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 本报告期比上年同期增 | 年初至报告期末 | 年初至报告期末比上年 | | --- | --- | --- | --- | --- | | | | 减 | | 同期增减 | | 营业收入（元） | 597,248,350.92 | 42.95% | 1,508,120,820.92 | 5.8 ...

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 910,872,470, a decrease of 9.51% compared to CNY 1,006,626,047 in the same period last year[22]. - The net profit attributable to shareholders of the listed company was CNY 92,302,635, down 25.45% from CNY 123,817,291 in the previous year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 85,832,690, a decrease of 25.18% compared to CNY 114,724,902 in the same period last year[22]. - The net cash flow from operating activities was CNY 40,661,252, down 60.98% from CNY 104,202,438 in the previous year[23]. - Basic earnings per share decreased to CNY 0.45, down 25.00% from CNY 0.60 in the same period last year[23]. - Diluted earnings per share were CNY 0.46, a decrease of 25.81% compared to CNY 0.62 in the previous year[23]. - The weighted average return on net assets was 6.21%, down from 9.21% in the previous year, a decrease of 3.00%[23]. - The operating cost decreased by 5.41% to ¥715.10 million from ¥755.98 million, resulting in a gross margin of 21.81%, down 3.31% year-on-year[46]. - The company reported a total of ¥45,568,000 in entrusted financial management, with no overdue amounts[63]. Cash Flow and Investments - The cash flow from operating activities decreased by 60.98% to ¥40.66 million, primarily due to increased payments for raw materials[44]. - The company's investment activities generated a cash outflow of ¥80.43 million, a 160.21% increase compared to the previous year, due to ongoing project investments[44]. - The company's net cash and cash equivalents decreased by 397.08% to -¥310.35 million, reflecting significant cash outflows from financing activities[45]. - The cash outflow from investing activities was CNY 660,620,675.26, up from CNY 459,432,258.62 in the previous year, indicating a rise of approximately 43.8%[171]. - The cash inflow from investment activities was CNY 580,188,590.05, compared to CNY 428,521,727.29 in the first half of 2020, marking an increase of approximately 35.4%[171]. Market Position and Strategy - The company holds a leading position in several niche markets, including chlorfluoropyr and thiamethoxam[33]. - The global pesticide market is expected to grow due to increasing food demand and climate-related challenges, despite rising raw material costs and international shipping prices[31]. - The company emphasizes research and development, having established provincial engineering technology research centers and a strong R&D team[36]. - The company operates under a self-export model for overseas sales, directly selling to foreign agrochemical companies[36]. - The domestic agrochemical industry is consolidating, with larger companies gaining competitive advantages amid regulatory pressures[32]. - The company’s production and sales strategies are aligned with market demand and seasonal trends to optimize procurement and production planning[36]. Environmental Management - Guorui Chemical reported a total COD discharge of 8.02 tons against a permitted limit of 151.94 tons, with a concentration of 142.19 mg/L, well below the standard of 500 mg/L[85]. - The company has established a comprehensive environmental management system, including regulations for wastewater discharge and solid waste management[87]. - The company employs advanced wastewater treatment processes, including high-efficiency catalytic oxidation and MBBR technology, to improve treatment efficiency[87]. - The company has implemented a rainwater and sewage diversion system to manage wastewater effectively[88]. - The company has constructed rotary kilns and liquid incineration facilities for the disposal of hazardous waste, ensuring compliance with regulations[88]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares[5]. - A total of 2,691,225 shares, approximately 1.30% of the total share capital, will be released from restrictions for 259 eligible incentive recipients[81]. - The total number of shares decreased from 138,049,500 to 138,010,500 due to the repurchase and cancellation of 39,000 restricted stocks[129]. - The basic earnings per share for the reporting period was CNY 0.45, while the diluted earnings per share was CNY 0.46[133]. - The largest shareholder, Wu Yaojun, holds 28.79% of the shares, totaling 12,450,000 shares[138]. Future Outlook and Challenges - The company aims to enhance its market expansion strategies and invest in new technologies to drive future growth[162]. - The company plans to enhance procurement management to mitigate the impact of raw material price fluctuations on operating costs and gross margins[73]. - Future capital expenditures for new project constructions may lead to increased depreciation and operational costs, potentially affecting profitability[73]. - The company is exposed to foreign exchange risks due to a significant portion of sales being denominated in USD, and it employs various measures to manage this risk[74]. - The company aims to enhance its product offerings and improve operational efficiency through strategic initiatives[177].

Financial Performance - The company's operating revenue for 2020 was ¥1,861,749,308.55, representing an increase of 18.65% compared to ¥1,569,075,036.16 in 2019[15] - The net profit attributable to shareholders for 2020 was ¥196,187,719.89, a growth of 31.00% from ¥149,762,694.22 in the previous year[15] - The net cash flow from operating activities increased by 25.51% to ¥320,013,995.90 in 2020, up from ¥254,973,691.39 in 2019[15] - Basic earnings per share rose to ¥1.42, reflecting a 25.66% increase from ¥1.13 in 2019[15] - Total assets at the end of 2020 reached ¥2,540,212,366.99, marking a 13.38% increase from ¥2,240,386,397.11 at the end of 2019[15] - The net assets attributable to shareholders increased by 13.67% to ¥1,457,503,003.93 at the end of 2020, compared to ¥1,282,236,643.49 at the end of 2019[15] - The company reported a diluted earnings per share of ¥1.48, which is a 30.97% increase from ¥1.13 in 2019[15] - The company’s weighted average return on equity was 14.37% in 2020, up from 12.18% in 2019[15] - The total revenue for the company in 2020 reached approximately ¥30.46 billion, a significant increase from ¥4.31 billion in 2019[22] Dividend Policy - The company plans to distribute a cash dividend of ¥4 per 10 shares, with a capital reserve conversion of 5 shares for every 10 shares held[4] - The proposed cash dividend for 2020 is RMB 4.00 per 10 shares, totaling RMB 55,204,200, which represents 28.14% of the net profit attributable to ordinary shareholders[116] - The total distributable profit for the year 2020 was RMB 783,126,692.64, after accounting for statutory reserves and previous year's profit distribution[112] - The company did not issue any bonus shares or capital reserve transfers in 2020, maintaining a clear cash dividend policy[114] - The cash dividend payout ratio for 2019 was 26.45%, with a total cash dividend of RMB 39,609,000[116] - The company has established a transparent and compliant profit distribution policy, ensuring the protection of minority shareholders' rights[110] Market Position and Strategy - The company holds a leading position in several niche markets, including chlorfenapyr and thiamethoxam, and has been recognized as one of the top 100 pesticide companies in China[28] - The company is focused on the research and development of new, efficient, and low-toxicity pesticides, aligning with industry trends towards sustainable agricultural practices[28] - The domestic pesticide industry is expected to see consolidation, with stronger companies gaining market share due to stricter environmental regulations[26] - The company aims to expand its market presence through strategic initiatives and potential acquisitions[49] - The company is focused on developing new products and technologies to enhance its market position[49] Research and Development - The company has developed over 600 pesticide active ingredients, showcasing its diverse product portfolio and market adaptability[37] - The company has obtained over 100 pesticide registration certificates and more than 50 production licenses domestically, enhancing its market presence[38] - The company’s R&D expenses increased by 34.20% to approximately ¥59.30 million in 2020, driven by increased investment in new project development[69] - The proportion of R&D personnel increased to 16.07% of total employees, reflecting the company's focus on enhancing its R&D capabilities[71] Environmental Management - The company has established comprehensive environmental management systems, including regulations for wastewater discharge and solid waste management[195] - Jiangsu Zhongqi has implemented advanced wastewater treatment technologies, including high-efficiency catalytic oxidation and MBBR systems, to enhance treatment efficiency[196] - The company has constructed rotary kilns and liquid-phase incineration facilities for hazardous waste disposal, ensuring compliance with regulations[197] - The company has established an emergency response plan for environmental incidents and conducted drills to evaluate and revise emergency measures accordingly[199] Risks and Challenges - The company faces risks related to raw material supply and price fluctuations, exchange rate risks, and environmental protection[4] - The company has indicated that the overall demand in the industry has slowed down, leading to lower-than-expected sales revenue from fundraising projects[96] - The company has faced challenges in production and sales plans due to the impact of the COVID-19 pandemic and global economic slowdown[96] Financial Management - The company reported a significant increase in financial expenses by 161.27% to approximately ¥33.07 million, mainly due to exchange rate fluctuations[69] - The cash and cash equivalents increased by 574.31% to approximately ¥231.05 million, attributed to net cash inflows from operating, investing, and financing activities[75] - The company has ongoing significant non-equity investments, including a project for 15,500 tons of new pesticide raw materials, with a total investment of ¥49,762,500[88] Corporate Governance - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of the initial public offering[117] - Shareholders have a lock-up period of 6 months post-IPO, during which they cannot transfer their shares[119] - The company has established a commitment to ensure compliance with share transfer regulations during the lock-up period[121] - The company has outlined specific conditions under which the lock-up period may be adjusted based on stock performance[120] Community Engagement - The company donated over 100,000 to charitable causes, including 5,000 N95 masks to Wuhan Red Cross during the pandemic[187] - The company donated 2.525 million to support the educational development of Nanjing University[187] Safety and Compliance - The company invested 1,062 million in safety production measures during the reporting period, with no major safety incidents occurring[190] - The company has a dedicated safety management team of 20 personnel, including 6 registered safety engineers[188]

Financial Performance - The company's revenue for Q1 2021 was ¥493,571,452.38, representing an increase of 8.02% compared to ¥456,920,913.02 in the same period last year[7] - Net profit attributable to shareholders was ¥60,038,593.93, up 19.67% from ¥50,171,426.22 year-on-year[7] - The net profit after deducting non-recurring gains and losses was ¥57,197,695.47, reflecting a 19.23% increase from ¥47,973,226.45 in the previous year[7] - The basic earnings per share increased by 15.79% to ¥0.44 from ¥0.38 in the same period last year[7] - The diluted earnings per share rose by 18.42% to ¥0.45 compared to ¥0.38 in the previous year[7] - The total operating revenue for the first quarter of 2021 was CNY 493,571,452.38, an increase from CNY 456,920,913.02 in the previous period[41] - Operating profit for Q1 2021 reached CNY 67,391,838.71, compared to CNY 60,142,658.44 in the same period last year, reflecting a growth of approximately 4.1%[43] - Net profit for Q1 2021 was CNY 60,301,557.99, up from CNY 49,325,486.70, representing an increase of about 22.5% year-over-year[43] - The total profit for Q1 2021 was CNY 67,260,190.93, an increase from CNY 59,493,510.17, which is approximately 12.5% higher than the previous year[43] - The total comprehensive income for Q1 2021 was CNY 60,301,557.99, compared to CNY 49,325,486.70, showing an increase of about 22.5%[44] Cash Flow and Assets - The net cash flow from operating activities was -¥44,411,036.05, a significant decline of 374.63% from -¥9,356,916.97 in the same period last year[7] - The company's cash and cash equivalents decreased by 31.76%, from 685,681,819.5 to 467,909,247, primarily due to loan repayments[19] - The ending cash and cash equivalents balance was CNY 397,555,319.58, down from CNY 364,869,540.73 in the previous period[52] - The cash inflow from operating activities totaled CNY 396,181,122.11, an increase from CNY 331,988,372.82 in the previous period[50] - The net cash outflow from operating activities was CNY -44,411,036.05, compared to CNY -9,356,916.97 in the prior period[51] - Cash inflow from investment activities amounted to CNY 403,302,502.85, significantly higher than CNY 26,520,856.64 in the previous period[51] - The net cash outflow from investment activities was CNY -1,026,505.36, an improvement from CNY -10,660,894.22 in the prior period[51] - The net cash outflow from financing activities was CNY -188,033,061.33, worsening from CNY -47,287,365.60 in the prior period[52] - The company experienced a net decrease in cash and cash equivalents of CNY -275,328,661.80 during the period[55] Balance Sheet Highlights - Total assets at the end of the reporting period were ¥2,451,668,109.89, down 3.49% from ¥2,540,212,366.99 at the end of the previous year[7] - Net assets attributable to shareholders increased by 4.60% to ¥1,524,479,024.19 from ¥1,457,503,003.93 at the end of the previous year[7] - The total liabilities decreased to CNY 924,657,231.95 from CNY 1,080,440,473.37 in the previous period[35] - The total equity attributable to shareholders of the parent company increased to CNY 1,524,479,024.19 from CNY 1,457,503,003.93[36] - The company's long-term investments slightly increased to CNY 1,068,549.22 from CNY 1,237,537.60[34] - The construction in progress increased to CNY 253,330,049.58 from CNY 214,989,163.68[34] Operational Insights - The company reported a total of 7,700 common shareholders at the end of the reporting period[11] - Accounts receivable increased by 43.85%, from 249,659,132.9 to 359,135,216, attributed to higher sales to major clients[19] - Research and development expenses rose by 88.36%, from 6,824,900.76 to 12,855,649.6, reflecting increased investment in new projects[19] - The company reported a total operating cost of CNY 424,384,951.96, up from CNY 392,356,071.30, indicating a rise of about 8.2%[42] - The company incurred a credit impairment loss of CNY -5,987,116.52, compared to CNY -5,164,968.76 in the previous period, indicating a worsening in credit quality[42] Risks and Future Plans - The company faces risks related to raw material supply and price fluctuations, which significantly impact operating costs and gross margins[23] - Environmental protection and safety production risks are present due to the nature of the pesticide industry, with potential impacts on operations if not managed properly[23] - Foreign exchange risk is a concern due to a high proportion of overseas sales, with measures in place to manage this risk effectively[24] - The company plans to accelerate new project construction at production bases, which may lead to increased capital expenditures and operational costs in the short term[24] - The company continues to execute its annual operational plan, focusing on steady improvements across R&D, production, and market management[22] Shareholder Actions - The company has initiated the repurchase and cancellation of 39,000 restricted stocks due to the departure of four incentive plan participants[26] - The top five suppliers accounted for 26.42% of total procurement, with a total procurement amount of 89.14 million yuan, slightly up from 24.09% in the same period last year[22] - Sales to the top five customers totaled 303.78 million yuan, representing 61.55% of total sales, up from 41.80% year-on-year, indicating a 19.75% increase[22]

Financial Performance - The company's operating revenue for 2020 was CNY 1,861,749,308.55, representing an increase of 18.65% compared to CNY 1,569,075,036.16 in 2019[16] - The net profit attributable to shareholders for 2020 was CNY 196,187,719.89, a growth of 31.00% from CNY 149,762,694.22 in the previous year[16] - The net cash flow from operating activities reached CNY 320,013,995.90, up by 25.51% from CNY 254,973,691.39 in 2019[16] - Basic earnings per share increased to CNY 1.42, a rise of 25.66% compared to CNY 1.13 in 2019[16] - Total assets at the end of 2020 amounted to CNY 2,540,212,366.99, reflecting a 13.38% increase from CNY 2,240,386,397.11 at the end of 2019[16] - The company's net assets attributable to shareholders grew to CNY 1,457,503,003.93, marking a 13.67% increase from CNY 1,282,236,643.49 in 2019[16] - The company reported a diluted earnings per share of CNY 1.48, which is a 30.97% increase from CNY 1.13 in 2019[16] - The company’s weighted average return on equity was 14.37%, up from 12.18% in the previous year[16] - The total revenue for 2020 was 30,455.41 million, a significant rise from 4,310.38 million in 2019[23] Dividend Policy - The company plans to distribute a cash dividend of CNY 4 per 10 shares, based on a total of 138,010,500 shares[4] - The total distributable profit for the year was RMB 783,126,692.64, with cash dividends amounting to RMB 55,204,200, representing 100% of the profit distribution[120][121] - The proposed profit distribution plan includes a cash dividend of RMB 4.00 per 10 shares, totaling RMB 55,204,200, and a capital reserve increase of 5 shares for every 10 shares held, resulting in a total share capital of 207,015,750 shares[121][122] - The cash dividend payout ratio for 2020 was 28.14% of the net profit attributable to shareholders[124] - The company has consistently increased its cash dividends over the past three years, with the 2020 cash dividend being higher than the 2019 dividend of RMB 3.00 per 10 shares[124] Market Position and Strategy - The pesticide export volume in China reached 239.5 million tons in 2020, representing a year-on-year growth of 29.3%[28] - The export value of pesticides from China was 11.68 billion, reflecting a year-on-year increase of 14.6%[28] - The global crop protection market is projected to reach 66.70 billion by 2023, with a compound annual growth rate of 3% from 2018 to 2023[26] - The company holds a leading position in several niche markets, including chlorfenapyr and thiamethoxam, and has received multiple industry awards[29] - The company is focused on the research and development of new, efficient, and low-toxicity pesticides, aligning with industry trends towards sustainable agricultural practices[29] - The company achieved operating revenue of 1,861.75 million RMB, an increase of 18.65% compared to the previous year[44] - The pesticide industry accounted for 99.31% of total revenue, with revenue from pesticide raw materials at ¥1,150,440,808.31, up 13.48% year-on-year[58] - Overseas sales increased by 55.78% to ¥1,085,356,291.44, while domestic sales decreased by 11.00% to ¥776,393,017.11[58] Research and Development - The company holds 53 patents and has established itself as a national high-tech enterprise with a strong R&D team primarily composed of PhDs and Masters[37] - The company has developed over 600 pesticide active ingredients, indicating a diverse product portfolio[38] - The company has obtained over 100 pesticide registration certificates and more than 50 production licenses in the domestic market, showcasing its rich license resources[39] - The company’s R&D expenses in 2020 amounted to ¥59.30 million, a 34.20% increase compared to ¥44.19 million in 2019, reflecting increased investment in new project development[69] - The proportion of R&D personnel increased to 16.07% of total employees, up from 11.97% in 2019, indicating a focus on enhancing R&D capabilities[70] Operational Efficiency - The company has implemented multiple technical transformation projects aimed at increasing capacity, saving energy, and reducing emissions[44] - The company has a designed capacity of 7,950 tons/year for active ingredients and intermediates, with a capacity utilization rate of 66.40%[47] - The company is currently constructing an additional capacity of 15,500 tons/year for active ingredients and intermediates[47] - The company maintains a production capacity for formulations at 2,800 tons/year, with a capacity utilization rate of 38.16%[47] - The company aims to enhance daily operational efficiency, reduce operating costs, and improve overall business performance[151] Risk Management - The company faced risks including raw material supply and price fluctuations, exchange rate risks, and environmental protection risks[4] - Raw material costs significantly impact operating costs and gross margins, with fluctuations posing risks to profitability[108] - The company employs measures to manage foreign exchange risks due to a high proportion of overseas sales revenue[108] Corporate Governance - The company has established a corporate culture centered around its vision, mission, and values, enhancing employee cohesion and management thinking[45] - The company is committed to improving its EHS management system to prevent major safety and environmental incidents[106] - The company has a long-term commitment to dividend distribution, which has been in normal execution since December 2016[132] - The company has outlined specific actions to take if future business expansions lead to potential competition with its existing operations[137] Social Responsibility - The company made a donation of over 100,000 yuan to the Nanjing Charity Federation and provided 5,000 N95 masks to the Wuhan Red Cross during the pandemic[195] - The company donated 2,525,000 yuan to the Nanjing University Education Development Foundation to support educational initiatives[195] - In 2020, the company invested 1,062 million in safety production measures, with no major safety incidents reported during the year[197] Shareholder Relations - The company has implemented measures to protect the interests of its shareholders, including a commitment from key executives to not resign during compliance periods[135] - The company will conduct share reductions through legal and compliant methods, including but not limited to centralized bidding transactions and block trades[130] - The company’s major shareholder will not transfer more than 25% of their total shareholding during their tenure as a director or senior management[129]

江苏中旗科技股份有限公司 2020 年第三季度报告全文 1 江苏中旗科技股份有限公司 2020 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人吴耀军、主管会计工作负责人顾游及会计机构负责人(会计主管 人员)刘红妮声明：保证季度报告中财务报表的真实、准确、完整。 江苏中旗科技股份有限公司 2020 年第三季度报告 2020-068 2020 年 10 月 √ 适用 □ 不适用 单位：元 2 江苏中旗科技股份有限公司 2020 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 2,427,560,048.47 | 2,240,386,397.11 | | 8.35% | | 归属于上 ...

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 1,006,626,047.46, representing a 13.33% increase compared to CNY 888,222,150.69 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was CNY 123,817,291.22, up 26.12% from CNY 98,177,517.19 year-on-year[18]. - The net profit after deducting non-recurring gains and losses was CNY 114,724,902.07, an increase of 18.05% compared to CNY 97,179,730.45 in the previous year[18]. - The basic earnings per share rose to CNY 0.94, reflecting a 27.03% increase from CNY 0.74 in the same period last year[18]. - The company achieved operating revenue of CNY 1,006,626,047.46, an increase of 13.33% compared to the same period last year[39]. - The net profit attributable to shareholders reached CNY 12,381,730, an increase of 26.12% year-on-year[39]. - Research and development investment increased by 45.54% to CNY 31,879,659.32, reflecting a focus on new product development[43]. - The gross margin for pesticide products was 25.12%, up by 2.03% compared to the previous year[45]. - The company reported a significant decrease in financial expenses by 64.16% to CNY 3,532,641.20, mainly due to exchange gains and government subsidies[42]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,468,580,275.07, a 10.19% increase from CNY 2,240,386,397.11 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company increased to CNY 1,370,011,752.55, up 6.85% from CNY 1,282,236,643.49 at the end of the previous year[18]. - The total liabilities of the company were CNY 1,085,825,912.23, compared to CNY 950,216,942.31 at the end of 2019, which is an increase of approximately 14.3%[156]. - The company's equity attributable to shareholders increased to CNY 1,370,011,752.55 from CNY 1,282,236,643.49, representing a growth of about 6.8%[157]. - The total current liabilities increased to CNY 400,425,648.12, compared to CNY 286,968,952.85, reflecting an increase of 39.4%[161]. Cash Flow - The company reported a net cash flow from operating activities of CNY 104,202,438.14, a decrease of 12.58% compared to CNY 119,203,832.29 in the same period last year[18]. - Cash and cash equivalents increased by 215.89% to CNY 104,465,962.22, driven by changes in financing activities[43]. - The cash flow from operating activities generated a net amount of CNY 104,202,438.14, down from CNY 119,203,832.29 in the previous year[171]. - The total cash inflow from investment activities was ¥419,939,589.65, significantly higher than ¥3,087,248.16 in the previous year[175]. - The cash and cash equivalents at the end of the period amounted to CNY 504,421,573.46, an increase from CNY 358,527,911.50 at the end of the first half of 2019[172]. Research and Development - The company emphasizes research and development, having been recognized as a high-tech enterprise since 2010 and a key high-tech enterprise under the National Torch Program since 2014[33]. - The company has developed over 600 pesticide active ingredients, indicating a strong product variety and market presence[33]. - The company has a comprehensive R&D mechanism, allowing it to develop and industrialize new products effectively, supported by a strong team of researchers[33]. Risks and Challenges - The company faces risks including raw material supply and price fluctuations, exchange rate risks, and environmental protection and safety production risks[4]. - The company’s production costs are significantly influenced by raw material prices, which have shown volatility, impacting gross margins[29]. - The company is exposed to exchange rate fluctuations due to a high proportion of overseas sales, primarily settled in USD[80]. Environmental Compliance - The company has maintained compliance with pollutant discharge standards and has timely paid discharge fees[117]. - The total COD emissions were 51.03 tons, with a discharge concentration of 286 mg/l, below the standard of 1000 mg/l[112]. - The company has implemented measures to ensure compliance with pollution discharge standards, with no instances of exceeding discharge limits reported[112]. Shareholder and Equity Information - The total number of shares increased from 132,030,000 to 138,049,500, reflecting a change of 6,019,500 shares due to the issuance of restricted stock[124]. - The company granted 6,019,500 restricted shares to 263 incentive objects, with the listing date set for June 9, 2020[124]. - The company did not distribute cash dividends or issue bonus shares for the reporting period[85]. Subsidiaries and Corporate Structure - The company has a total of 5 subsidiaries included in the consolidated financial statements, with 100% ownership in Jiangsu Fulai Ge International Trade Co., Ltd. and Jiangsu Hongfeng Equity Investment Co., Ltd.[189][190]. - The company established a new subsidiary, Jiangsu Zhongqi Crop Protection Technology Co., Ltd., during the reporting period[190].

Financial Performance - Total revenue for Q1 2020 was ¥456,920,913.02, a decrease of 16.92% compared to ¥549,947,693.26 in the same period last year[7] - Net profit attributable to shareholders was ¥50,171,426.22, down 32.94% from ¥74,820,744.06 year-on-year[7] - Net profit excluding non-recurring gains and losses was ¥47,973,226.45, a decline of 35.40% compared to ¥74,264,397.24 in the previous year[7] - Basic earnings per share decreased by 33.33% to ¥0.38 from ¥0.57 year-on-year[7] - The company reported a revenue of 456.92 million CNY for Q1 2020, a decrease of 16.92% compared to the same period last year[17] - The net profit attributable to shareholders was 50.17 million CNY, down 32.94% year-on-year, primarily due to decreased sales and increased fixed production costs[16] - The company’s operating revenue for Q1 2020 was CNY 340,535,194.41, a decrease of 18.8% compared to CNY 419,131,159.19 in the same period last year[49] - The net profit for Q1 2020 was CNY 49,325,486.70, down 33.7% from CNY 74,316,888.54 in Q1 2019[47] - The total profit for Q1 2020 was CNY 59,493,510.17, a decrease of 34.1% from CNY 90,295,811.24 in the previous year[46] - The company's operating profit for Q1 2020 was CNY 60,142,658.44, down 33.8% from CNY 90,872,569.24 in Q1 2019[46] Cash Flow - The net cash flow from operating activities was -¥9,356,916.97, an improvement of 59.03% from -¥22,836,248.62 in the same period last year[7] - Cash inflow from operating activities totaled 277,293,348.03 yuan, down from 392,757,674.83 yuan in the previous period[57] - Cash outflow from operating activities was 273,450,653.33 yuan, compared to 412,756,632.69 yuan in the previous period, indicating a decrease in cash outflow[57] - The cash inflow from operating activities in Q1 2020 was CNY 331,988,372.82, compared to CNY 486,827,039.72 in the same period last year, indicating a decrease of 31.8%[53] - The net cash flow from operating activities was -9,356,916.97 yuan, compared to -22,836,248.62 yuan in the previous period, indicating an improvement[54] - Total cash inflow from financing activities was 52,464,140.91 yuan, down from 151,987,657.16 yuan in the previous period[55] - The net cash flow from investing activities was -10,660,894.22 yuan, compared to -41,077,695.19 yuan in the previous period, showing a significant reduction in cash outflow[54] - The company experienced a net decrease in cash and cash equivalents of -65,086,595.00 yuan, compared to -80,455,599.89 yuan in the previous period[55] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,292,420,347.39, an increase of 2.32% from ¥2,240,386,397.11 at the end of the previous year[7] - Accounts receivable increased by 70.94% to 244.97 million CNY, attributed to increased sales activities compared to the previous quarter[16] - The company's total assets amounted to CNY 2,292,420,347.39, an increase from CNY 2,240,386,397.11 at the end of 2019[36] - The company's cash and cash equivalents decreased to CNY 447,656,934.62 from CNY 471,262,792.53, reflecting a decline of approximately 5.03%[36] - Total liabilities as of March 31, 2020, were CNY 947,204,856.66, slightly down from CNY 950,216,942.31[39] - The total current liabilities of the company were CNY 547,243,886.23, compared to CNY 542,346,751.90 at the end of 2019, indicating a slight increase[36] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 8,110[10] - The largest shareholder, Wu Yaojun, holds 30.10% of the shares, with 39,736,620 shares pledged[10] - Net assets attributable to shareholders increased by 4.23% to ¥1,336,475,894.56 from ¥1,282,236,643.49 at the end of the previous year[7] - Total equity attributable to shareholders increased to CNY 1,336,475,894.56 from CNY 1,282,236,643.49, reflecting a growth of approximately 4.2%[39] Operational Insights - The company plans to enhance procurement management to mitigate risks associated with raw material price fluctuations, which significantly impact operating costs[21] - The company is focused on optimizing investment management for new projects to minimize the impact of capital expenditures on profitability[22] - The company will continue to enhance safety and environmental management to mitigate risks associated with production processes in the pesticide industry[22] - The company has faced delays in project implementation due to environmental regulations and safety inspections, impacting production capacity[30] Research and Development - Research and development expenses for Q1 2020 were CNY 6,824,900.76, down from CNY 9,522,271.99 in the previous period, indicating a reduction of about 28.4%[45] - The company reported a decrease in research and development expenses to CNY 6,035,128.56 in Q1 2020 from CNY 9,037,609.36 in Q1 2019, a reduction of 33.2%[49] Fundraising and Investments - The total amount of raised funds is 36,548.01 million CNY, with 92.66 million CNY invested in the current quarter[28] - Cumulative changes in the use of raised funds amount to 25,550.77 million CNY, representing 69.91% of the total raised funds[28] - The company utilized CNY 10,003,562.61 of unutilized raised funds for permanent working capital, with the special account for raised funds being closed[30] - The company has invested CNY 6,568.86 million in projects prior to the arrival of raised funds, with no funds being replaced from the raised capital[30]