Financial Performance - The company's revenue for Q3 2021 reached ¥1,124,034,490.43, representing an increase of 82.26% compared to the same period last year[5] - Net profit attributable to shareholders for the same period was ¥130,524,921.89, up 30.37% year-on-year[5] - The net profit excluding non-recurring gains and losses was ¥151,703,375.47, reflecting a 75.78% increase compared to the previous year[5] - The total revenue for the year-to-date reached ¥3,203,793,163.39, marking a 93.88% increase compared to the same period last year[5] - The company's net profit for the period was impacted by a fair value loss of ¥116,258,579.34, compared to a gain of ¥19,057,317.29 in the previous year[30] - The net profit for the third quarter was approximately ¥486.06 million, a significant increase from ¥161.92 million in the same period last year, representing a year-over-year growth of 200.5%[36] - The total profit for the quarter was approximately ¥605.62 million, significantly higher than ¥199.13 million in the same period last year, indicating a growth of 203.5%[36] - The total comprehensive income attributable to the parent company was approximately ¥477.00 million, compared to ¥115.32 million in the previous year, indicating a substantial increase[36] Assets and Liabilities - Total assets at the end of Q3 2021 amounted to ¥6,718,078,472.84, a growth of 14.77% from the end of the previous year[5] - The total assets of the company reached ¥6,718,078,472.84, compared to ¥5,853,377,792.16 in the previous year, marking an increase of about 14.7%[30] - Current liabilities totaled ¥1,885,504,026.99, up from ¥1,388,377,483.43, which is an increase of approximately 35.8%[27] - The company's equity attributable to shareholders rose to ¥4,598,961,421.54 from ¥3,874,698,626.59, representing an increase of about 18.7%[29] Cash Flow - The cash flow from operating activities showed a net outflow of ¥384,540,978.64, a decrease of 192.77% compared to the same period last year[5] - Cash flow from operating activities showed a net outflow of approximately ¥384.54 million, a decline from a net inflow of ¥414.52 million in the previous year[39] - Cash inflow from investment activities totaled approximately ¥1.82 billion, while cash outflow was around ¥2.48 billion, resulting in a net cash outflow of approximately ¥658.77 million from investment activities[39] - The company reported cash and cash equivalents at the end of the period amounting to approximately ¥603.79 million, compared to ¥346.69 million at the end of the previous year[39] - The company's cash and cash equivalents as of September 30, 2021, amount to ¥635,196,276.66, a decrease from ¥1,479,645,410.49 at the end of 2020[21] Shareholder Information - The total number of common shareholders at the end of the reporting period is 56,923[12] - The largest shareholder, Liang Jiankun, holds 15.18% of shares, totaling 46,992,435 shares, which are pledged[15] - The total number of preferred shareholders is zero, indicating no preferred shares issued[12] - The company has no known related party transactions or concerted actions among the top ten shareholders, except for the father-son relationship between Liang Jiankun and Liang Jie[16] Operational Highlights - The company reported a significant increase in accounts receivable, which rose by 117.00% due to increased sales volume and prices[8] - The company’s inventory increased by 55.14%, attributed to higher procurement volumes and rising prices of raw materials[8] - Total operating revenue for the third quarter reached ¥3,203,793,163.39, a significant increase from ¥1,652,480,497.89 in the same period last year, representing a growth of approximately 93.8%[30] - Total operating costs amounted to ¥2,502,631,170.46, up from ¥1,482,223,147.55, indicating a year-over-year increase of about 68.7%[30] - The company generated approximately ¥2.85 billion in cash from sales of goods and services, compared to ¥1.68 billion in the same period last year, marking a growth of 69.3%[37] Future Plans - The company initiated the application for public issuance of overseas listed foreign shares (H shares) and submitted the application to the China Securities Regulatory Commission on June 10, 2021[20] - The company plans to continue monitoring the progress of its Hong Kong IPO project, which remains subject to regulatory approvals[20] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[30] Research and Development - Research and development expenses increased to ¥27,604,835.73 from ¥22,359,285.12, reflecting a growth of approximately 23.5% year-over-year[30]

Financial Performance - The company's operating revenue for the first half of 2021 reached approximately ¥2.08 billion, representing a 100.79% increase compared to ¥1.04 billion in the same period last year[29]. - Net profit attributable to shareholders of the listed company was approximately ¥355.70 million, a significant increase of 473.98% from ¥61.97 million in the previous year[29]. - The net profit after deducting non-recurring gains and losses was approximately ¥391.02 million, up 558.68% from ¥59.36 million year-on-year[29]. - Basic earnings per share increased to ¥1.16, reflecting a growth of 404.35% compared to ¥0.23 in the same period last year[29]. - The weighted average return on net assets was 8.36%, an increase of 4.98% from 3.38% in the previous year[29]. - The net cash flow from operating activities was negative at approximately -¥396.59 million, a decrease of 215.13% compared to ¥344.48 million in the same period last year[29]. - The company reported a significant increase in income tax expenses, amounting to CNY 79,415,399.83, a 710.38% increase from CNY 9,799,736.36, attributed to increased profitability during the reporting period[48]. Assets and Liabilities - Total assets increased by 12.63% to CNY 6,592,716,439.67 compared to the end of the previous year[32]. - Net assets attributable to shareholders increased by 15.07% to CNY 4,458,643,073.62 compared to the end of the previous year[32]. - Cash and cash equivalents at the end of the reporting period amounted to ¥1,564,985,665.82, accounting for 23.74% of total assets, a decrease of 1.54% compared to the previous year[53]. - Accounts receivable increased by 130.64% to ¥480,924,372.21, representing 7.29% of total assets, due to increased sales volume and price[53]. - Inventory rose to ¥1,902,867,559.31, making up 28.86% of total assets, an increase of 4.93% attributed to expanded production capacity and rising raw material prices[53]. - Fixed assets increased to ¥1,029,620,720.47, accounting for 15.62% of total assets, due to the completion of certain projects[53]. - Short-term borrowings increased by 41.3% to ¥891,191,830.90, representing 13.52% of total assets, driven by increased funding needs for expanded production capacity[53]. Investment and Projects - The company’s total investment during the reporting period was ¥181,659,470.00, a significant increase of 224.56% compared to ¥55,970,233.40 in the same period last year[65]. - The project for the construction of a 5,000-ton electrolytic cobalt production line in Congo has achieved a cumulative investment of RMB 72,284.5 million, reaching 100% of the planned investment[76]. - The company has completed 100% of the investment in the cobalt powder production line renovation and expansion project, with a total investment of RMB 250.44 million[76]. - The company has not yet achieved the expected benefits from the 3,000-ton cobalt powder production line and technology project, which has a cumulative investment of RMB 1,344.24 million[76]. - The company has invested RMB 11,342.88 million from raised funds in the first half of 2021[74]. - The cumulative investment in the Congo project has resulted in realized benefits of RMB 13,547.13 million[76]. Market and Sales - The company reported significant growth in cobalt and copper product sales driven by the rising prices of cobalt salts and the recovery of the global economy[39]. - Cobalt powder is a key raw material for various industries, and the company has become a major supplier in both domestic and international markets[39]. - The company operates a complete supply chain from raw material procurement to production and sales, enhancing its self-supply capability[39]. - The company’s sales network covers major downstream industries in Japan, South Korea, Switzerland, Israel, India, and the United States[39]. Research and Development - The company added 11 utility model patents and 2 invention patents during the reporting period, bringing the total to 49 patents[40]. - The company has established a customer demand-oriented R&D mechanism to meet differentiated needs in the cobalt powder market[40]. - The company emphasizes the importance of continuous product innovation to maintain competitiveness in the cobalt powder market[120]. - The company has established a technical innovation system based in Ganzhou and Anhui to enhance R&D capabilities and product competitiveness[120]. Risk Management - The company has faced risks and has detailed measures to address them in the management discussion section of the report[6]. - The company is committed to improving its internal control systems and risk management frameworks to address management risks associated with business expansion[121]. - The company faces risks from market price fluctuations of cobalt and copper, which could significantly impact revenue and gross profit[117]. Corporate Governance - The company held several shareholder meetings with participation rates around 39.78% to 41.64%, ensuring stakeholder engagement in decision-making[125]. - The company has undergone management changes, including the appointment of a new chairman and general manager, to align with its strategic goals[126]. - The company has established sound business supervision and internal control mechanisms for its overseas subsidiaries, ensuring good operational performance[57]. Environmental and Social Responsibility - The company and its subsidiaries are not classified as key pollutant discharge units and did not face any administrative penalties related to environmental issues during the reporting period[135]. - The company has not engaged in poverty alleviation or rural revitalization efforts during the reporting period but plans to respond to national calls for such initiatives in the future[136]. - The company has not reported any major environmental issues or penalties during the reporting period, indicating compliance with environmental regulations[135]. Shareholder and Investor Relations - The company has actively protected shareholder and creditor rights by adhering to relevant laws and regulations, ensuring timely and accurate information disclosure[136]. - The company has established effective communication channels with investors, including online performance briefings and investor interaction platforms[136]. - The company will continue to disclose information regarding the H share IPO progress and associated risks to investors[181].

Financial Performance - The company's revenue for Q1 2021 reached ¥1,036,063,529.84, representing a 102.65% increase compared to ¥511,247,058.43 in the same period last year[9] - Net profit attributable to shareholders was ¥99,958,828.67, a significant increase of 339.31% from ¥22,753,401.55 in the previous year[9] - The net profit after deducting non-recurring gains and losses was ¥214,237,404.02, marking an 866.80% increase from ¥22,159,397.98 year-on-year[9] - Basic earnings per share rose to ¥0.33, up 312.50% from ¥0.08 in the same quarter last year[9] - The company's total revenue for the first quarter of 2021 reached CNY 103,606.35 million, representing a year-on-year increase of 102.65% due to rising demand in the electric vehicle sector and successful production of new projects[29] - Cobalt product sales increased by 11.47% year-on-year, while copper product sales surged by 173.08% during the same period[29] - The average market price for cobalt rose by 29.42% year-on-year, and copper prices increased by 50.38%[29] - The company's net cash flow from operating activities was negative CNY 13,141.71 million, a decrease of 188.85% compared to the previous year, attributed to increased procurement[28] - The total cost of sales rose by 62.16% year-on-year to CNY 68,531.94 million, driven by higher sales volumes and prices of cobalt and copper[26] - The company reported a significant increase in accounts receivable, which rose by 150.90% year-on-year, reflecting higher sales volumes[26] Assets and Liabilities - The total assets at the end of the reporting period were ¥6,042,017,547.51, a 3.22% increase from ¥5,853,377,792.16 at the end of the previous year[9] - The net assets attributable to shareholders increased by 10.86% to ¥4,295,516,950.27 from ¥3,874,698,626.59 at the end of the last year[9] - The company's current assets totaled CNY 4,236,146,306.76, up from CNY 3,904,967,770.31 at the end of 2020, reflecting a growth of approximately 8.5%[57] - Cash and cash equivalents decreased to CNY 619,630,428.20 from CNY 1,479,645,410.49, indicating a decline of about 58%[57] - The company's inventory stood at CNY 1,403,945,727.60, slightly increasing from CNY 1,400,770,658.15, showing a marginal growth of 0.2%[57] - Total liabilities decreased to CNY 1,746,444,033.44 from CNY 1,980,162,393.19, a reduction of about 11.8%[63] - The total current liabilities amounted to CNY 1,566,214,498.06, an increase from CNY 1,388,377,483.43, reflecting a growth of approximately 12.8%[63] Investments and Projects - The company has completed the investment in the "Cobalt Powder Production Line Renovation and Expansion Project" with a total investment of CNY 17,644 million, achieving 100% of the planned progress[39] - The "Congo Mite Construction of 5,000 Tons of Electrolytic Cobalt Production Line Project" has a total investment of CNY 14,916.9 million, with CNY 9,126.2 million invested to date, achieving 100% of the planned progress[39] - The "Annual Production of 3,000 Tons of Metal Cobalt Powder Production Line and Technology Center Construction Project" has a total investment of CNY 17,393.56 million, with CNY 17,642.21 million invested, exceeding the planned progress by 1.43%[39] - The total cumulative investment of the company in various projects amounts to CNY 86,476.01 million, with a total of CNY 14,997.99 million in expected benefits realized[39] - The project for the construction of 20,000 tons of electroplated copper and 5,000 tons of electroplated cobalt has been delayed, with the expected operational date adjusted to December 31, 2020, due to COVID-19 impacts on logistics and personnel availability[42] Fundraising and Financial Management - The total amount of funds raised by the company is CNY 261,813.7 million, with CNY 4,268.25 million invested in the current quarter[35] - The cumulative amount of changed-use raised funds is CNY 53,064.33 million, accounting for 20.27% of the total raised funds[35] - The company has decided to exercise the conditional redemption right for the "Hanrui Convertible Bonds" (code: 123017) due to the closing price exceeding 130% of the conversion price for 15 out of 30 trading days[32] - The redemption date for the "Hanrui Convertible Bonds" is set for February 24, 2021, with trading and conversion ceasing thereafter[32] - The company has published 15 redemption notices to inform bondholders about the redemption process[32] - The company has approved the use of up to 1.8 billion RMB of idle funds for purchasing principal-protected short-term financial products, with a remaining balance of 1.27 billion RMB in such products as of March 31, 2021[48] - The company has established strict approval procedures for the use of fundraising, ensuring funds are used specifically for their intended purposes[48] - The company has not reported any issues or other situations regarding the use and disclosure of fundraising[48] Research and Development - Research and development expenses for the quarter were ¥9,866,843.85, down from ¥12,080,597.75, indicating a decrease of approximately 18.3%[76] - The company has incurred research and development expenses of ¥4,315,860.37 in the previous period, indicating ongoing investment in innovation[83] Market Conditions and Strategic Adjustments - The COVID-19 pandemic has significantly affected the expected production capacity, leading to a failure to achieve anticipated revenue[42] - The company has made strategic adjustments to its fundraising project timelines in response to market conditions and operational realities[42] - The company aims to expand its hydroxide cobalt production capacity to better meet market demand, with the new project location in Kolwezi providing stable raw material supply[42] - The company has shifted its fundraising project focus from a cobalt powder production line to the construction of a 3,000 tons metal cobalt powder production line and technology center to enhance production capacity and technical level[42] - The adjustments made are intended to improve the efficiency of fundraising utilization and support the company's long-term development[42]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the year 2020, representing a year-on-year increase of 15%[15]. - The net profit attributable to shareholders was RMB 300 million, an increase of 20% compared to the previous year[15]. - The company's operating revenue for 2020 was ¥2,253,776,474.63, representing a 26.69% increase compared to ¥1,779,038,653.95 in 2019[22]. - The net profit attributable to shareholders in 2020 was ¥334,503,259.33, a significant increase of 2,312.45% from ¥13,865,703.02 in 2019[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥188,031,917.62, up 3,315.93% from ¥5,504,558.66 in 2019[22]. - The company's total assets at the end of 2020 reached ¥5,853,377,792.16, a 67.14% increase from ¥3,502,160,943.44 at the end of 2019[22]. - The net assets attributable to shareholders increased by 117.90% to ¥3,874,698,626.59 from ¥1,778,230,073.70 in 2019[22]. - The basic earnings per share for 2020 was ¥1.18, a dramatic increase of 2,260.00% compared to ¥0.05 in 2019[22]. - The diluted earnings per share for 2020 was ¥1.16, also reflecting a 2,220.00% increase from ¥0.05 in 2019[22]. - The net cash flow from operating activities for 2020 was ¥221,147,741.36, a 7.38% increase from ¥205,952,212.17 in 2019[22]. - The total distributable profit for the year is RMB 278,701,748.24, with cash dividends accounting for 100% of the profit distribution[173]. Market Expansion and Strategy - The company aims to expand its market presence in Southeast Asia, targeting a 30% increase in market share by 2022[15]. - Future guidance indicates a revenue growth target of 20% for 2021, driven by increased demand in the electric vehicle market[15]. - The company is exploring potential acquisitions in the lithium sector to diversify its product offerings and reduce dependency on cobalt[15]. - The company has established a comprehensive sales network covering major downstream industries in Japan, South Korea, Switzerland, Israel, India, and the United States[34]. - The company is considering strategic acquisitions to bolster its market position, with a budget of $100 million allocated for potential deals[196]. - Market expansion plans include entering three new international markets, projected to increase market share by 5%[195]. Research and Development - Research and development expenses increased by 10% to RMB 100 million, focusing on sustainable mining practices[15]. - The company holds a total of 36 patents, including 20 authorized national invention patents and 16 utility model patents, reflecting its strong focus on R&D and innovation in cobalt powder technology[43]. - The company has ongoing research and development in new materials, including cobalt powder and lithium battery components, to enhance its product offerings[101]. - The company is investing $50 million in R&D for new technologies aimed at enhancing product efficiency[194]. - The company will invest in R&D and collaborate with universities and research institutions to maintain its technological advantage and ensure sustainable development[149]. Production and Operations - New product development includes a cobalt-based battery technology expected to launch in Q3 2021, projected to increase production efficiency by 15%[15]. - The company achieved a substantial growth in cobalt product gross margin, driven by the booming demand in the new energy vehicle sector and the commissioning of a 3,000-ton cobalt powder production project[34]. - The company expanded its electrolytic copper production capacity, leading to a significant increase in electrolytic copper sales for the year[34]. - The company’s production capacity for electrolytic copper reached 20,000 tons annually, contributing to the increase in sales volume[65]. - The company aims to enhance its cobalt powder production scale and technology level through the establishment of a new production line with an annual capacity of 3,000 tons[122]. Financial Management and Investments - The company plans to distribute a cash dividend of RMB 2.2 per 10 shares, based on a total of 309,617,139 shares[6]. - The company has committed to investing RMB 42,486.6 million in various projects, with a cumulative investment of RMB 12,606.53 million completed[115]. - The company has allocated approximately 299.62 million yuan of unused raised funds, including interest income of 820,800 yuan, for cash management[125]. - The company has undergone several changes in the implementation of its fundraising projects, including the establishment of a subsidiary in the Democratic Republic of the Congo for cobalt production[125]. - The company has maintained strict approval procedures for the use of raised funds to ensure they are used for their intended purposes[129]. Risk Management and Compliance - The company has strengthened risk management and compliance culture to ensure high-quality development and operational efficiency[56]. - The company is committed to improving its internal control systems and risk management practices to ensure effective decision-making and operational safety[162]. - The company faces risks from market price fluctuations of cobalt and copper, which can significantly impact revenue and profitability[159]. Shareholder Returns - The company plans to distribute cash dividends of RMB 2.20 per 10 shares, totaling RMB 68,115,770.58 for the year 2020[173]. - The cash dividend policy aims to provide stable returns to investors while considering the company's long-term development and operational needs[169]. - The cash dividend distribution is subject to the company's profitability and the issuance of an unqualified audit report for the financial year[170]. - The company will maintain a minimum cash dividend ratio of 20% during its growth phase and 40% during its maturity phase with significant capital expenditures[169].

Financial Performance - Net profit attributable to shareholders was ¥100,118,725.86, representing a growth of 176.35% year-on-year[9]. - Operating revenue for the period was ¥616,710,148.76, up 91.92% compared to the same period last year[9]. - The net cash flow from operating activities was ¥70,046,397.36, an increase of 170.33% year-on-year[9]. - Basic earnings per share increased to ¥0.34, reflecting a growth of 161.54% compared to the same period last year[9]. - The weighted average return on net assets was 5.26%, up from 3.11% in the previous year[9]. - The company reported a total net profit of ¥162,089,811.27 for the year-to-date, which is a 502.22% increase compared to the same period last year[9]. - The company reported a net profit of ¥1,105,698,002.79, compared to ¥947,866,256.78, indicating a growth of around 16.6%[52]. - The net profit for the current period is ¥161,923,726.47, a significant recovery from a net loss of ¥40,563,404.61 in the previous period[79]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥5,584,326,484.25, an increase of 59.45% compared to the end of the previous year[9]. - The company's fixed assets increased by 94.67% from CNY 41,182.35 million at the beginning of the year to CNY 80,169.27 million by September 30, 2020, primarily due to the addition of 20,000 tons from Congo's Kolwezi[24]. - Intangible assets rose by 52.54%, from CNY 3,439.71 million to CNY 5,246.98 million, attributed to the commissioning of the electrolytic copper project[24]. - Cash and cash equivalents increased by 46.30%, from CNY 27,431.64 million to CNY 40,133.78 million, mainly due to increased sales receipts and public stock issuance[24]. - The company's total liabilities increased significantly, with accounts payable rising by 261.62% from CNY 5,401.09 million to CNY 19,531.40 million, reflecting increased procurement by subsidiaries[24]. - Total liabilities amounted to ¥1,801,637,278.56, up from ¥1,725,334,630.72, which is an increase of around 4.4%[49]. - Current liabilities rose to ¥1,256,460,173.67 from ¥1,167,531,312.44, indicating an increase of approximately 7.6%[49]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 39,135[13]. - The top shareholder, Liang Jie, holds 18.98% of the shares, totaling 57,489,952 shares[13]. Cash Flow - The company experienced a 701.73% increase in net cash flow from financing activities, totaling CNY 177,992.85 million, primarily due to a private placement of shares[29]. - Cash flow from operating activities increased to ¥414,522,336.46, compared to ¥174,703,360.33 in the previous period, reflecting a significant improvement[93]. - Cash flow from investing activities showed a net outflow of ¥2,088,808,913.43, worsening from a net outflow of ¥343,049,559.68 in the previous period[96]. Operating Costs and Revenue - Total operating costs amounted to ¥508,437,893.06, up from ¥317,682,873.14, indicating a rise of about 60%[62]. - Total operating revenue for the current period reached ¥616,710,148.76, a significant increase from ¥321,344,131.56 in the previous period, representing a growth of approximately 92%[59]. - Total operating revenue increased by 32.89% year-on-year to CNY 165,248.05 million, driven by higher sales of electrolytic copper[29]. Tax and Expenses - The company’s income tax expense increased by 261.56% year-on-year to CNY 3,720.53 million, reflecting higher profitability[29]. - The company reported a significant increase in non-operating expenses, up 355.04% year-on-year to CNY 184.78 million, due to increased donations and late fees[29]. - The tax expense for the current period is ¥37,205,261.39, compared to a tax benefit of ¥23,028,952.74 in the previous period[79]. Investments and Other Income - Other income rose by 111.30% year-on-year to CNY 458.54 million, mainly due to increased government subsidies[29]. - The company reported a fair value change gain of ¥19,057,317.29, compared to a gain of ¥127,817.59 in the previous period[79].

Financial Performance - The company's operating revenue for the first half of 2020 was RMB 1,035,770,349.13, representing a 12.32% increase compared to RMB 922,135,439.61 in the same period last year[26]. - The net profit attributable to shareholders of the listed company was RMB 61,971,085.41, a significant turnaround from a loss of RMB 76,527,243.13 in the previous year, marking an increase of 180.98%[26]. - The net profit after deducting non-recurring gains and losses was RMB 59,364,182.27, compared to a loss of RMB 78,307,602.89 in the same period last year, reflecting a 175.81% improvement[26]. - The net cash flow from operating activities was RMB 344,475,939.10, up 25.58% from RMB 274,303,516.88 in the previous year[26]. - Basic earnings per share increased to RMB 0.23 from a loss of RMB 0.28, representing a 182.14% improvement[26]. - The diluted earnings per share also improved to RMB 0.22 from a loss of RMB 0.28, reflecting a 178.57% increase[26]. - The weighted average return on net assets was 3.38%, a significant increase of 7.53% compared to -4.15% in the previous year[26]. - Total assets at the end of the reporting period were RMB 3,561,384,073.91, a 1.69% increase from RMB 3,502,160,943.44 at the end of the previous year[26]. - The net assets attributable to shareholders of the listed company were RMB 1,887,997,812.23, up 6.17% from RMB 1,778,230,073.70 at the end of the previous year[26]. Dividend and Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[7]. - The company held its first extraordinary shareholders' meeting of 2020 on March 23, with a participation rate of 51.84%[129]. - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[130]. - The total number of shares increased from 268,845,247 to 269,446,934 due to the conversion of convertible bonds, with a total increase of 601,687 shares[180]. - As of June 30, 2020, the company had 4,027,965 convertible bonds remaining, with a total remaining amount of 402.80 million yuan, representing an unconverted ratio of 91.54%[180]. - The net asset value per share increased from 6.93 yuan to 7.01 yuan following the share capital changes[180]. - The total number of ordinary shareholders at the end of the reporting period was 38,524[189]. - Major shareholders include Liang Jie with a 21.89% stake (58,989,000 shares) and Liang Jiankun with an 18.64% stake (50,232,000 shares)[189]. - The company did not experience any changes in its controlling shareholder or actual controller during the reporting period[194]. Operational Developments - The company reported a 75.2% year-on-year increase in electrolytic copper sales volume due to the completion of production line upgrades[41]. - Cobalt product costs decreased by 12.25% year-on-year, enhancing the company's profitability during the reporting period[41]. - Fixed assets increased by 64.76% to CNY 678.54 million, primarily due to the commissioning of the electrolytic copper project[44]. - The net amount of accounts receivable decreased by 39.25% to CNY 184.61 million, attributed to improved cash collection[44]. - The company established a marketing network in Japan, South Korea, Switzerland, Israel, India, and the United States, enhancing its sales capabilities[40]. - The company aims to optimize inventory structure and control raw material procurement costs to further improve profitability[41]. - The company has a strong supply chain self-sufficiency capability, ensuring stable production and sales of cobalt and copper products[39]. - The company’s sales volume has maintained steady growth despite the challenges posed by the COVID-19 pandemic and international market fluctuations[57]. Investment and Fundraising - The company raised 1,901,275,999.20 CNY through a non-public offering of A-shares to support project construction in Ganzhou[59]. - The total investment amount for the reporting period was ¥55,970,233.40, a decrease of 81.76% compared to ¥306,865,818.90 in the same period last year[77]. - The company made a significant equity investment of ¥6,305,940.00 in Congo Mai Te, acquiring a 100% stake, with the project transformation currently underway[80]. - The total amount of raised funds was ¥75,047.5 million, with ¥3,293.34 million invested during the reporting period and a cumulative investment of ¥73,584.8 million[84]. - The cumulative change in the use of raised funds amounted to ¥53,064.33 million, representing 70.71% of the total raised funds[84]. - The company raised ¥44,000.00 million through the issuance of convertible bonds, with a net amount of ¥42,486.60 million after deducting issuance costs[85]. - The company has established a wholly-owned subsidiary in the Democratic Republic of Congo to manage its cobalt production projects[95]. Project Management and Challenges - The company adjusted the expected operational status of the cobalt projects due to construction delays caused by weather and the COVID-19 pandemic, extending the expected completion date to December 31, 2020[92]. - The company has faced challenges in achieving expected benefits due to the impact of the COVID-19 pandemic on project management and logistics[92]. - The company has changed its fundraising project from "5,000 tons of hydroxide cobalt project" to "5,000 tons of electrowinning cobalt project" to enhance competitiveness and adapt to market conditions[95]. - The investment project in Kolwezi for 20,000 tons of electrolytic copper and 5,000 tons of electrolytic cobalt has its operational timeline extended to December 31, 2020, due to delays caused by the COVID-19 pandemic affecting personnel and logistics[111]. Risk Management - The company faces risks from fluctuations in cobalt and copper metal prices, which directly impact revenue and gross profit due to their dependence on economic cycles and downstream demand[123]. - Management risks are highlighted as the company expands its operations, necessitating improvements in internal control systems and talent acquisition[125]. - The company has implemented a closed-loop management mechanism to enhance operational efficiency and risk management capabilities[60]. Corporate Governance and Compliance - The half-year financial report has not been audited[138]. - There were no significant litigation or arbitration matters during the reporting period[140]. - The company did not engage in any major related party transactions during the reporting period[145]. - The company has not implemented any employee stock ownership plans or other incentive measures during the reporting period[144]. - The company did not provide guarantees to shareholders, actual controllers, or their related parties[162]. - There were no violations of external guarantees during the reporting period[163]. - The company did not engage in significant environmental pollution activities and is not listed as a key pollutant unit[167]. - The company has not yet initiated targeted poverty alleviation efforts but plans to focus on it in the future[168].

Financial Performance - Total revenue for Q1 2020 was ¥511,247,058.43, a decrease of 1.38% compared to ¥518,396,266.33 in the same period last year[9] - Net profit attributable to shareholders was ¥22,753,401.55, a significant increase of 141.13% from a loss of ¥55,320,787.19 in the previous year[9] - Net profit excluding non-recurring gains and losses was ¥22,159,397.98, up 138.90% from a loss of ¥56,967,690.24 year-on-year[9] - Basic earnings per share for Q1 2020 was ¥0.08, compared to a loss of ¥0.21 in the same period last year, reflecting a 138.10% improvement[9] - Operating profit for the current period is ¥28,278,846.79, compared to an operating loss of ¥78,367,381.20 in the previous period[68] - Net profit for the current period is ¥22,697,375.60, a significant recovery from a net loss of ¥55,459,959.79 in the previous period[68] - The total comprehensive income for the current period is ¥49,144,107.72, a significant improvement from a loss of ¥88,456,259.59 in the previous period[71] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,511,116,193.15, a slight increase of 0.26% from ¥3,502,160,943.44 at the end of the previous year[9] - Total liabilities decreased to ¥1,658,939,921.13 from ¥1,725,334,630.72, a reduction of 3.84%[50] - Current liabilities totaled ¥1,125,341,493.96, down from ¥1,167,531,312.44, a decrease of 3.61%[50] - Non-current assets totaled ¥1,675,110,193.33, up from ¥1,488,640,405.44, representing an increase of 12.55%[47] - Long-term receivables increased to ¥66,574,467.72 from ¥65,551,199.24, a growth of 1.55%[47] Cash Flow - Cash flow from operating activities was ¥147,914,447.37, down 50.32% from ¥297,745,561.93 in the same period last year[9] - Cash inflow from sales of goods and services was 569,795,319.77, compared to 655,436,341.21 in the previous period, indicating a decrease of approximately 13.06%[79] - Cash outflow for purchasing goods and services was 379,480,575.01, an increase from 295,847,580.80 in the previous period, representing a rise of about 28.25%[82] - The company reported a cash and cash equivalents balance of 258,478,731.40 at the end of the period, up from 532,947,775.09 in the previous period, indicating a decrease in liquidity[85] - The company incurred a total of 132,000,000.00 in cash outflows for debt repayment, significantly higher than 409,305,401.27 in the previous period, reflecting a reduction in debt servicing[85] Investments and Projects - The company's intangible assets increased by 49.50% from 34.40 million RMB at the beginning of the year to 51.42 million RMB at the end of the period, due to the acquisition of land use rights by a subsidiary[22] - The construction in progress increased by 25.34% to 776.24 million RMB, primarily due to the investment in the "20,000 tons of electrolytic copper and 5,000 tons of electrolytic cobalt project"[22] - The company invested 17.644 million CNY in the cobalt powder production line technical transformation and expansion project, achieving 100% completion[28] - The company plans to expand its production capacity for cobalt hydroxide to better meet market demand[32] - The cumulative investment in projects reached 720.578 million CNY by the end of the reporting period[28] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 40,121[13] - Owner's equity increased to ¥1,852,176,272.02 from ¥1,776,826,312.72, reflecting a growth of 4.23%[53] Research and Development - The company’s R&D expenses increased by 67.76% to 12.08 million RMB, reflecting new R&D activities by a subsidiary[22] - Research and development expenses increased to ¥12,080,597.75 from ¥7,201,036.34, marking a rise of approximately 67.5%[65] Compliance and Governance - The company reported no violations regarding external guarantees during the reporting period[40] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[40] - The company did not apply the new revenue and lease standards for the first quarter of 2020, indicating no adjustments to prior financial statements[90] - The first quarter report for 2020 was not audited, which may affect the reliability of the financial data presented[92]

Financial Performance - The company's operating revenue for 2019 was approximately ¥1.78 billion, a decrease of 36.06% compared to ¥2.78 billion in 2018[23]. - The net profit attributable to shareholders for 2019 was approximately ¥13.87 million, down 98.04% from ¥707.63 million in 2018[23]. - The net profit after deducting non-recurring gains and losses was approximately ¥5.50 million, a decline of 99.22% compared to ¥701.68 million in 2018[23]. - The net cash flow from operating activities was approximately ¥205.95 million, a decrease of 29.18% from ¥290.80 million in 2018[23]. - The basic earnings per share for 2019 was ¥0.05, down 98.10% from ¥2.63 in 2018[23]. - The total revenue for the reporting period was approximately CNY 1.57 billion, showing a year-on-year increase of 3.04% compared to CNY 1.52 billion in the previous year[76]. - The net profit for the reporting period was CNY 13.59 million, with a significant difference from the cash flow generated from operating activities of CNY 20.60 million[91]. Assets and Liabilities - The total assets at the end of 2019 were approximately ¥3.50 billion, an increase of 1.50% from ¥3.45 billion at the end of 2018[23]. - The net assets attributable to shareholders at the end of 2019 were approximately ¥1.78 billion, a decrease of 6.42% from ¥1.90 billion at the end of 2018[23]. - The company's cash and cash equivalents decreased by 63.32% to CNY 274.32 million due to increased project investments and cash dividend distributions[46]. - The balance of construction in progress increased by 495.72% to CNY 619.31 million, primarily due to increased investments in the "20,000 tons of copper electrolysis and 5,000 tons of cobalt electrolysis project"[46]. - The balance of long-term receivables increased by 30.44% to CNY 65.55 million, attributed to advances made by the subsidiary for power distribution projects[46]. - The balance of other receivables increased by 355.96% to CNY 8.36 million, mainly due to an increase in receivables for export tax refunds[46]. Revenue Breakdown - Cobalt products accounted for 76.64% of total revenue, generating CNY 1,363,444,778.29, down 44.59% from CNY 2,460,510,378.80 in 2018[68]. - Copper products saw a revenue increase of 29.41%, totaling CNY 413,902,889.30, compared to CNY 319,847,715.90 in 2018[68]. - Domestic revenue decreased by 38.45% to CNY 961,622,419.58, while foreign revenue decreased by 33.01% to CNY 817,416,234.37[68]. Research and Development - The company has a strong focus on R&D and innovation in cobalt products, maintaining a competitive edge in both domestic and international markets[39]. - Research and development expenses totaled CNY 41.34 million, representing 2.32% of total revenue, an increase from 1.47% in the previous year[87]. - The company added 4 new patents in 2019, including 2 invention patents and 2 utility model patents, to strengthen innovation capabilities[62]. Market and Sales Strategy - The company has expanded its marketing network internationally, covering markets in Japan, South Korea, Switzerland, Israel, India, and the United States[41]. - The company aims to enhance product performance and expand its product range over the next three years, focusing on the growth of the hard alloy and battery materials industries[155]. - The company intends to strengthen its core competitiveness by improving production efficiency and reducing costs while expanding capacity[157]. Risk Management - The company faces risks from price fluctuations in cobalt and copper, which could significantly impact revenue and gross profit[166]. - The company recognizes the risk of continuous product innovation and is committed to enhancing its R&D capabilities to meet market demands[167]. - The company is enhancing risk control by optimizing process management and improving data analysis capabilities to respond to uncertainties[164]. Profit Distribution - The company has a profit distribution policy that considers long-term shareholder interests and sustainable development[172]. - The company plans to distribute cash dividends amounting to 2,957,297.72 CNY, which is 0.11 CNY per share (before tax) for every 10 shares[177]. - The total distributable profit for the year is 13,865,703.02 CNY, with cash dividends representing 21.33% of the total profit distribution[180]. Project Management and Investments - The company is focused on project management and has detailed project schedules to ensure timely production and achievement of annual goals[161]. - The company is constructing a 3,000-ton annual capacity cobalt powder production line and technology center, with an investment of approximately 17,393.56 million RMB, achieving 84.52% completion by August 31, 2019[135]. - The company is also investing in a project in Kolwezi to produce 20,000 tons of copper and 5,000 tons of cobalt hydroxide, with a total investment of 29,880.07 million RMB, achieving 92.73% completion by June 30, 2020[135].

Financial Performance - Operating revenue for the reporting period was CNY 321,344,131.56, a decline of 51.08% year-on-year[9]. - Net profit attributable to shareholders of the listed company was CNY 36,228,699.68, a decrease of 79.00% compared to the same period last year[9]. - Basic earnings per share for the reporting period were CNY 0.13, down 79.69% year-on-year[9]. - Total revenue for the period was CNY 1,243,479,571.17, a decrease of 42.41% compared to CNY 2,159,256,696.52 in the same period last year, primarily due to falling product prices[28]. - Total operating revenue for the third quarter was CNY 321,344,131.56, a decrease of 51% compared to CNY 656,815,492.86 in the same period last year[61]. - The company's net profit for the period was CNY 2,661,258.42, compared to a loss in the previous year, indicating a turnaround in profitability[61]. - The company's operating revenue for the current period is ¥179,716,346.09, a decrease of 53.7% compared to ¥388,260,346.16 in the previous period[71]. - The net profit for the current period is ¥188,171,729.94, compared to a net loss of ¥28,243,685.81 in the previous period[74]. - The total comprehensive income for the current period is ¥188,171,729.94, a recovery from a loss of ¥28,243,685.81 in the previous period[74]. - The total comprehensive income amounted to CNY 288,596,388.96, a decrease of 84.1% compared to the previous period's CNY 45,767,275.50[90]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,200,081,411.67, a decrease of 7.26% compared to the end of the previous year[9]. - The company reported a total asset value of RMB 3,200,081,411.67, down from RMB 3,450,553,253.70[44]. - The total assets decreased to CNY 2,107,528,030.03 from CNY 2,296,317,269.55, indicating a strategic divestment of non-core assets[60]. - The company's total liabilities decreased by 39.53% in deferred tax liabilities, from CNY 335,005,379.28 to CNY 202,584,966.22, due to dividends from overseas subsidiaries[28]. - Total liabilities decreased to RMB 1,470,202,802.93 from RMB 1,551,338,376.55, indicating a reduction of approximately 5.2%[47]. - The total liabilities decreased to CNY 1,087,664,999.21 from CNY 1,378,166,639.20, showing improved financial stability[57]. - The total liabilities amounted to ¥1,378,166,639.20, with total equity at ¥918,150,630.35, resulting in total assets of ¥2,296,317,269.55[127]. Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 174,703,360.33, an increase of 911.45%[9]. - The company reported a significant increase in cash flow from operating activities, indicating improved liquidity despite declining revenues[9]. - Cash inflow from operating activities was CNY 1,495,739,558.76, down from CNY 1,968,076,861.12 in the previous period, representing a decline of 24%[91]. - Cash outflow for purchasing goods and services was CNY 1,054,594,573.45, compared to CNY 1,673,445,443.49 in the previous period, indicating a decrease of 37%[91]. - The net cash flow from operating activities was CNY 174,703,360.33, a significant increase from CNY 17,272,500.63 in the previous period[91]. - Cash inflow from investment activities totaled CNY 368,378,200.28, a substantial increase from CNY 51,138,084.77 in the previous period[94]. - Cash outflow for investment activities was CNY 711,427,759.96, compared to CNY 351,808,649.38 in the previous period, reflecting an increase of 102%[97]. - The net cash flow from financing activities was CNY -295,802,469.30, compared to CNY 140,206,972.60 in the previous period[97]. Shareholder Information - Net assets attributable to shareholders of the listed company were CNY 1,731,294,182.40, down 8.89% from the previous year[9]. - The top ten shareholders held a total of 58,989,952 shares, representing 21.94% of the total shares[14]. - The company did not engage in any repurchase transactions during the reporting period[20]. - The company distributed cash dividends of RMB 10.00 per 10 shares, totaling RMB 192 million, based on a total share capital of 192,000,000 shares as of December 31, 2018[33]. - The total share capital increased to 192,000,281 shares after the conversion of 281 shares from convertible bonds prior to the dividend distribution[34]. Research and Development - The company’s research and development expenses decreased by 33.85% from CNY 34,732,599.18 to CNY 22,974,483.55, attributed to lower material costs[28]. - Research and development expenses were CNY 9,513,369.96, slightly down from CNY 9,973,893.70, indicating a focus on cost management[61]. - Research and development expenses for the current period amount to ¥6,820,152.85, down from ¥9,973,893.70 in the previous period, indicating a 31.5% reduction[71]. - Research and development expenses decreased to approximately ¥22.97 million, down 33.9% from ¥34.73 million in the previous period[77]. Financial Management - The weighted average return on net assets was 2.15%, a decrease of 8.16% compared to the previous year[9]. - The company reported a significant reduction in accounts payable, which decreased to CNY 124,640,552.74 from CNY 423,585,124.44, suggesting improved cash flow management[57]. - The company's financial expenses decreased to ¥15,888,776.49 from ¥26,534,389.15, reflecting a 40.4% reduction[71]. - Financial expenses decreased significantly to approximately ¥22.73 million, down 65.1% from ¥65.20 million in the previous period[77]. Compliance and Governance - The company had no violations regarding external guarantees during the reporting period[37]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[39]. - The company has not undergone an audit for the third quarter report, indicating that the figures are unaudited[131].

Financial Performance - Total revenue for the first half of 2019 was RMB 922,135,439.61, a decrease of 38.62% compared to RMB 1,502,441,203.66 in the same period last year[26]. - Net profit attributable to shareholders was a loss of RMB 76,527,243.13, down 114.47% from a profit of RMB 528,779,207.10 in the previous year[26]. - Basic and diluted earnings per share were both -0.28 yuan, a decline of 114.21% from 1.97 yuan in the same period last year[26]. - The weighted average return on net assets was -4.15%, down 43.69% from 39.54% in the previous year[26]. - Revenue from cobalt products decreased by 46.25% to CNY 716,004,850.41, with a gross margin decline of 64.08%[60]. - Revenue from copper products increased by 21.24% to CNY 205,212,584.06, with a gross margin improvement of 4.50%[60]. - The company reported a significant increase of 189.42% in other current assets, mainly due to new financial product investments[43]. - The company reported a total non-recurring profit of CNY 1,780,359.76, after accounting for various gains and losses[32]. Cash Flow and Investments - The net cash flow from operating activities increased by 353.89%, reaching RMB 274,303,516.88, compared to a negative cash flow of RMB -108,038,670.97 in the same period last year[26]. - The company reported a net increase in cash and cash equivalents of CNY -237,271,467.36, a decline of 420.94% attributed to increased investments and reduced bank loans[60]. - Total investments during the reporting period amounted to CNY 306,865,818, a 100% increase compared to the previous year[72]. - The company has invested RMB 250.44 million in the cobalt powder production line renovation and expansion project, achieving 100% investment progress[83]. - The project for constructing a 5,000-ton electrolytic cobalt production line in Congo has a cumulative investment of RMB 9,126.2 million, also achieving 100% investment progress[83]. - The company has utilized RMB 29,880.07 million of the unused fundraising for cash management, generating interest income of RMB 820,800[105]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 3,219,040,733.87, a decrease of 6.71% from RMB 3,450,553,253.70 at the end of the previous year[26]. - Net assets attributable to shareholders decreased by 13.35%, amounting to RMB 1,646,548,785.52 compared to RMB 1,900,322,921.45 at the end of the previous year[26]. - The company's short-term borrowings decreased by 52.95% to CNY 350,000,000.00, reflecting a reduction in bank loans[65]. - The company has a remaining balance of RMB 52.3635 million in raised funds as of June 30, 2019[78]. Operational Efficiency and Strategy - The company aims to optimize inventory structure and control procurement costs to improve profitability amid declining cobalt prices[40]. - The company has established a complete supply chain for cobalt products, from raw material procurement to production and sales, enhancing its operational efficiency[38]. - The company has established a complete cobalt product industry chain, including mining, acquisition, rough processing, smelting, and cobalt powder production, enhancing its competitive advantage[48]. - The company is actively expanding its overseas market share, focusing on optimizing customer structure and increasing sales of cobalt intermediate products and electrolytic copper[53]. - The company has implemented a new marketing strategy to improve market share, ensuring steady growth in domestic sales of cobalt powder[53]. - The company has established a marketing network in Japan, South Korea, Switzerland, Israel, India, and the United States to enhance its sales capabilities[39]. Risk Management - The company faces various operational risks and has outlined measures to address these risks in the report[6]. - The company has implemented risk control measures for derivative investments, including real-time monitoring of market dynamics and strict adherence to internal control mechanisms[110]. - The company predicts a significant fluctuation in net profit for the period from the beginning of the year to the next reporting period, potentially resulting in a loss compared to the same period last year[119]. - The company faces risks from price volatility of cobalt and copper, which directly impacts revenue and gross profit; cobalt product prices have significantly rebounded during the reporting period, enhancing profitability[119]. Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares[7]. - The company did not distribute cash dividends or issue bonus shares for the half-year period[124]. - The company's half-year financial report has not been audited[125]. - There were no significant litigation or arbitration matters during the reporting period[129]. - The company has not engaged in any major related party transactions during the reporting period[134]. - The company has not reported any issues or other situations regarding the use and disclosure of raised funds[96]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 36,351[179]. - Major shareholder Liang Jie holds 21.95% of the shares, totaling 42,135,680 shares, with no changes during the reporting period[179]. - Major shareholder Liang Jiankun holds 18.69% of the shares, totaling 35,880,320 shares, with no changes during the reporting period[179]. - Jiangsu Tuobang Investment Co., Ltd. holds 8.60% of the shares, totaling 16,508,579 shares, with a decrease of 4,799,921 shares during the reporting period[179]. - Jiangsu Hantang International Trade Group Co., Ltd. holds 6.90% of the shares, totaling 13,243,482 shares, with a decrease of 1,908,518 shares during the reporting period[179]. Convertible Bonds - The company issued 4.40 billion yuan of convertible bonds, with a total of 440,000 bonds issued[171]. - As of June 28, 2019, the remaining convertible bonds amount to 43,997.66 million yuan, with an unconverted ratio of 99.9947%[170]. - The company issued 4.4 million convertible bonds at a face value of 100 RMB each, totaling 440 million RMB, with a maturity of six years from November 20, 2018, to November 20, 2024[177]. - The coupon rates for the convertible bonds are 0.3% for the first year, 0.5% for the second year, 1.0% for the third year, 1.5% for the fourth year, 1.8% for the fifth year, and 2.0% for the sixth year[177].