一、说明会类型 证券代码：300637 证券简称：扬帆新材 公告编号：2023-016 浙江扬帆新材料股份有限公司 关于举行 2022 年度业绩说明会的公告 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。 重要提示： 1、投资者可于 2023 年 4 月 28 日（星期五）15:00-17:00 访问业绩说明会页面 https://eseb.cn/140Mmm496Ok 在线参与，公司将及时回答投资者的提问。 2、投资者可于 2023 年 4 月 28 日（星期五）15:00 前将需要了解的情况和有关问 题预先通过电子邮件的形式发送至公司投资者关系邮箱，公司将会在说明会上对 投资者普遍关注的问题进行回答。 3、投资者可于 2023 年 4 月 28 日（星期五）15:00-17:00 通过扫描下方小程序码， 点击"进入会议"进行提问。公司将在本次说明会上，在信息披露允许范围内对 投资者普遍关注的问题进行重点回答。 本次说明会采用网络远程的方式举行，公司将针对 2022 年度的经营成果及 财务指标等具体情况与投资者互动交流，在信息披露规则允许的范围内就投资者 普 ...

证券代码：300637 证券简称：扬帆新材 编号：2017-1108-01 | --- | --- | --- | |----------------|-------------------------------|----------------------------------------------------------| | | | | | | □ | 特定对象调研 □分析师会议 | | | □ 媒体采访 □业绩说明会 | | | 投资者关系 | □ 新闻发布会 □路演活动 | | | 活动类别 | □ 现场参观 | | | | █ 其他 （机构调研） | | | 参与单位名称及 | 西南证券：黄景文； | | | 人员姓名（排名 | 东方证券资管：郭哲； | | | | 国联证券：吴程浩； | | | 不分大小前后） | 海通证券：刘海荣； | | | 时间 | 2017 年 11 月 08 | 日上午 9:30 至 11:30 | | 地点 | | 浙江省绍兴市杭州湾上虞经济技术开发区纬三路 25 号公司 | | | 会议室 | | | | 副总经理兼董事会秘书:李耀土； | | | 上市公司 ...

证券代码：300637 证券简称：扬帆新材 浙江扬帆新材料股份有限公司投资者关系活动记录表 编号：2018-002 | --- | --- | --- | |----------------|----------------------------|--------------------------------------------------------| | | | | | | □ | 特定对象调研 □分析师会议 | | | □媒体采访 □业绩说明会 | | | 投资者关系 | □ 新闻发布会 □路演活动 | | | 活动类别 | □现场参观 | | | | █ 其他 （机构调研） | | | 参与单位名称及 | 国泰君安证券 杨思远； | | | 人员姓名（排名 | 中泰证券 李海勇； | | | | 大成基金 韩创； | | | 不分大小前后） | 中融基金 寇文红； | | | 时间 | 14:00-15:15 | | | 地点 | 浙江省杭州市滨江区信诚路 | 31 号扬帆大厦 5 楼会议室 | | 上市公司接待 | 董事会秘书 樊相东； | | | 人员姓名 | 证券部 叶立群； | | | ...

证券代码：300637 证券简称：扬帆新材 编号：2018-001 | --- | --- | --- | |----------------|--------------------------|---------------------------------------------------------| | | | | | | □ | 特定对象调研 □分析师会议 | | | □ 媒体采访 □业绩说明会 | | | 投资者关系 | □ 新闻发布会 □路演活动 | | | 活动类别 | □ 现场参观 | | | | █ 其他 （机构调研） | | | | | 招商证券 姚鑫；国联证券 吴程浩；国盛证券 吴成鼎、陈凯 | | 参与单位名称及 | | 丽；东兴证券 罗四维；光大证券 陈冠雄；申万宏源 沈衡、骆 | | 人员姓名（排名 | | 江锋；西南证券 黄景文；新时代证券 司马湫；华融证券 康 | | | | | | 不分大小前后） | 鹏；中泰资管 程枫； | 啸、吴晨辉；南方基金 张磊；诺安基金 赵森；鹏华基金 张 | | 时间 | 2018 年 05 月 08 | 日下午 14:00 至 16:3 ...

证券代码：300637 证券简称：扬帆新材 浙江扬帆新材料股份有限公司投资者关系活动记录表 编号：2018-003 | --- | --- | --- | |----------------|----------------------------|------------------------------------| | | | | | | √ 特定对象调研 □分析师会议 | | | | □媒体采访 | □业绩说明会 | | 投资者关系 | □ 新闻发布会 □路演活动 | | | 活动类别 | □现场参观 | | | | □ 其他 | | | | 广发证券 | 吴鑫然； 太平洋证券 张波； | | | 中信证券 | 朱晓； 申万宏源 金铁桥； | | | 光大证券 | 徐亮、郭立胜； 富国基金 宋哲建； | | 参与单位名称及 | 国元证券 | 李朝松、毛正； 中融人寿 苗华； | | 人员姓名（排名 | 晖鸿投资 | 腾尧、叶啸剑； 茂典资产 唐忠杰； | | 不分大小前后） | 财通证券资管 | 邵沙锞； 松檀资本 徐彦锋； | | | 城投资本 | 包红政； 未来资产 王灵君； | | | 方际资 ...

Revenue and Profit - Revenue for Q3 2022 reached ¥183,172,502.70, an increase of 16.39% compared to the same period last year[4] - Net profit attributable to shareholders was -¥2,216,767.80, a decrease of 24.17% year-on-year[4] - Net profit excluding non-recurring items was -¥2,566,464.94, down 8.22% from the previous year[4] - Total operating revenue for Q3 2022 reached CNY 593,054,621.33, an increase of 25.0% compared to CNY 474,651,935.08 in the same period last year[16] - Net profit attributable to shareholders of the parent company was CNY 11,137,965.35, a significant increase of 59.4% from CNY 6,995,118.84 in the previous year[18] - The total comprehensive income for the period was CNY 4,467,316.09, up from CNY 2,286,949.67, representing a growth of 95.5%[18] Cash Flow - Cash flow from operating activities for the year-to-date reached ¥79,825,795.82, a significant increase of 900.17%[4] - The cash inflow from operating activities for Q3 2022 was CNY 567,107,290.42, an increase from CNY 531,617,184.43 in Q3 2021, representing a growth of approximately 6.7%[21] - The net cash flow from operating activities was CNY 79,825,795.82, significantly higher than CNY 7,981,250.51 in the same period last year, indicating a substantial improvement[21] - The total cash outflow for operating activities was CNY 487,281,494.60, a decrease from CNY 523,635,933.92 in the previous year, showing a reduction of about 6.9%[21] - The company received CNY 60,396,322.01 in tax refunds, significantly higher than CNY 15,130,380.92 in Q3 2021, indicating improved cash flow from tax-related activities[21] Expenses - R&D expenses for the first nine months of 2022 totaled ¥32,407,174.17, up 54.87% year-on-year due to increased personnel and direct investment[9] - Sales expenses for the first nine months increased by 47.47% to ¥5,278,917.60, primarily due to higher marketing costs[9] - Research and development expenses increased to CNY 32,407,174.17, up 55.0% from CNY 20,925,926.31 in the same quarter last year[16] Assets and Liabilities - Total assets at the end of Q3 2022 were ¥1,372,789,233.05, a decrease of 1.91% from the end of the previous year[4] - Total current assets as of September 30, 2022, amount to ¥395,967,174.59, a decrease from ¥440,433,525.16 at the beginning of the year[14] - Total liabilities decreased to CNY 603,427,079.78 from CNY 633,451,884.66, reflecting a reduction of 4.0%[16] - The company's total equity increased slightly to CNY 769,362,153.27 from CNY 766,074,599.15, indicating a growth of 0.2%[16] Shareholder Information - Total number of common shareholders at the end of the reporting period is 13,660[10] - Zhejiang Yangfan Holding Group Co., Ltd. holds 23.69% of shares, totaling 55,606,200 shares, with 37,859,999 shares pledged[10] - SFC CO., LTD. holds 15.84% of shares, totaling 37,175,400 shares[10] Borrowings - Short-term borrowings increased by 35.80% to ¥333,405,805.05, reflecting a rise in financing needs[8] - Short-term borrowings as of September 30, 2022, amount to ¥333,405,805.05, an increase from ¥245,516,128.14[14] Inventory - Inventory as of September 30, 2022, is ¥206,224,736.53, an increase from ¥191,519,421.57[14] Investment Activities - The cash outflow from investing activities totaled CNY 93,730,832.59, down from CNY 168,435,032.78 in Q3 2021, reflecting a decrease of about 44.4%[21] - The net cash flow from investing activities was -CNY 70,401,329.50, an improvement compared to -CNY 113,390,161.26 in the previous year[21] - The company reported a cash inflow of CNY 23,300,000.00 from other investment activities, down from CNY 55,000,000.00 in Q3 2021, indicating a decrease of approximately 57.6%[21] Future Outlook - Future outlook and performance guidance were not explicitly mentioned in the provided content[11] - The company continues to focus on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[16]

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 409,882,118.63, representing a 29.19% increase compared to CNY 317,269,757.86 in the same period last year[22]. - The net profit attributable to shareholders was CNY 13,354,733.15, up 34.65% from CNY 9,918,438.32 year-on-year[22]. - The net cash flow from operating activities reached CNY 71,921,998.54, a significant increase of 206.17% compared to CNY 23,490,915.29 in the previous year[22]. - Basic earnings per share increased by 50.00% to CNY 0.06 from CNY 0.04 in the same period last year[22]. - The gross profit margin for the overall business was 21.31%, with the gross profit margin for photoinitiators at 11.01% and for thiol compounds at 27.30%[82]. - The company's operating costs increased by 28.12% to ¥322.54 million, primarily due to the rise in revenue[80]. - The company's total assets decreased to CNY 1,081,207,220.90 from CNY 1,134,896,488.50, a decline of 4.7%[183]. - The company's total equity attributable to shareholders was reported at 234,235,000.00 yuan, reflecting a stable equity position despite fluctuations in cash flow[195]. Market and Industry Insights - The company focuses on fine chemicals, primarily producing photoinitiators and intermediates, which are widely used in pharmaceuticals, pesticides, and dyes[30]. - The radiation curing industry has shown continuous growth since 2016, with significant opportunities arising from the "dual carbon" strategy initiated in 2021, expanding applications in semiconductor, display, and communication sectors[31]. - The demand for photoinitiators is driven by the rapid development of radiation curing materials, which are more efficient, economical, and environmentally friendly compared to traditional high VOC solvent-based products[33]. - The Chinese pharmaceutical market is expected to reach RMB 2.3 trillion by 2025, with a compound annual growth rate (CAGR) of 7.20% from 2021 to 2025[40]. - The market size of China's pharmaceutical intermediates reached RMB 209 billion in 2020, projected to exceed RMB 290 billion by 2026[41]. Product Development and Innovation - The company is actively developing new products suitable for UV-LED light sources, including cationic photoinitiators and certain macromolecular photoinitiators, in response to market demand[34]. - The company has developed a full range of thiol compounds, which are essential for various applications in pharmaceuticals, pesticides, and dyes, enhancing its market position[46]. - The company is focusing on the development of new products such as macromolecular photoinitiators and sulfur-containing fine chemicals, with positive feedback from clients on trial products[64][66]. - The company emphasizes research and development, implementing a structured new product development process with clear technical and business review standards[53]. Operational Efficiency and Cost Management - The company maintains a competitive edge through a full industry chain advantage, ensuring lower costs and higher product quality[48]. - The company’s production model includes continuous production for stable customers and customized production for high-margin thiol compounds[50]. - The Inner Mongolia production base has achieved stable operation and is gradually ramping up production, significantly reducing production costs and enhancing product competitiveness[63]. - The company is committed to enhancing production automation and reducing the proportion of frontline operators to improve operational efficiency and cost control[105]. Environmental and Safety Management - The company has established a unified sales management model, with its wholly-owned subsidiary, Shouerfu Trading, handling external negotiations, quotations, and customer service[52]. - The company has constructed a new 20,000 m³/h regenerative thermal oxidizer for waste gas treatment, which is currently operating normally and meeting discharge standards[119]. - The company has established emergency response plans for environmental incidents, which have been filed with local environmental protection departments[124]. - Safety education and training were conducted at three levels, ensuring all operational personnel received necessary qualifications[131]. Risk Management - The company faces risks from macroeconomic factors, including the impact of COVID-19 and international political instability, which could affect operational performance[99]. - The company is addressing market competition risks by leveraging its full industry chain advantages and exploring new profit growth points[102]. - Rising labor costs pose a risk to profit levels as the company requires high-quality talent amid increasing competition, prompting the implementation of effective assessment and incentive systems to stabilize the management team and core employees[104]. - The company faces increased risks from raw material price fluctuations due to expanded production scale and global macroeconomic uncertainties, which could lead to a decline in profitability if costs cannot be passed on to downstream customers[103]. Shareholder and Governance Information - The total number of ordinary shareholders at the end of the reporting period is 13,939[164]. - Zhejiang Yangfan Holding Group Co., Ltd. holds 23.69% of the shares, amounting to 55,606,200 shares, with 38,859,999 shares pledged[164]. - There are no changes in the company's board of directors, supervisors, or senior management during the reporting period, ensuring stability in leadership[112]. - The company has not implemented any stock incentive plans or employee shareholding plans during the reporting period, indicating a focus on other growth strategies[114].

Financial Performance - The company's revenue for Q1 2022 was ¥231,037,818.81, representing a 39.22% increase compared to ¥165,949,576.30 in the same period last year[3] - Net profit attributable to shareholders decreased by 18.29% to ¥11,614,748.46 from ¥14,213,796.86 year-on-year[3] - The net profit after deducting non-recurring gains and losses was ¥11,607,892.53, down 19.01% from ¥14,332,867.81 in the previous year[3] - Total operating revenue for Q1 2022 was CNY 231,037,818.81, an increase of 39.0% compared to CNY 165,949,576.30 in Q1 2021[19] - Net profit for Q1 2022 was CNY 11,614,748.46, a decrease of 18.5% from CNY 14,213,446.90 in Q1 2021[20] - The company reported a total comprehensive income of CNY -2,548,958.88 for Q1 2022, compared to CNY 13,939,416.35 in Q1 2021[20] - The company's basic earnings per share fell by 16.67% to ¥0.05 from ¥0.06 in the same period last year[3] - The basic and diluted earnings per share for Q1 2022 were both CNY 0.05, down from CNY 0.06 in Q1 2021[20] Assets and Liabilities - The company's total assets increased by 2.76% to ¥1,438,130,215.22 from ¥1,399,526,483.81 at the end of the previous year[3] - Total assets increased to ¥1,438,130,215.22 from ¥1,399,526,483.81, reflecting a growth of about 2.8%[15] - Total liabilities rose to ¥675,336,341.78 from ¥633,451,884.66, indicating an increase of about 6.6%[16] - The company's total equity remains stable at ¥234,750,130.00[16] Cash Flow - Cash flow from operating activities was ¥30,266,165.35, a slight decrease of 2.80% compared to ¥31,138,086.37 in the same period last year[3] - The company reported a significant increase of 423.23% in cash received from operating activities, totaling ¥846.48 million, mainly due to the release of frozen funds[9] - Cash and cash equivalents at the end of Q1 2022 amounted to CNY 86,043,976.30, an increase from CNY 60,915,488.97 at the end of Q1 2021[24] - The net cash flow from financing activities for Q1 2022 was CNY 22,621,948.49, slightly up from CNY 22,094,553.60 in Q1 2021[24] Research and Development - The company's R&D expenses rose by 42.50% to ¥1,225.11 million, driven by increased salaries and material costs[8] - Research and development expenses for Q1 2022 were CNY 12,251,077.27, up 42.5% from CNY 8,597,114.91 in Q1 2021[19] Shareholder Information - The total number of common shareholders at the end of the reporting period is 14,268[10] - Zhejiang Yangfan Holding Group Co., Ltd. holds 23.69% of shares, totaling 55,606,200 shares[10] Inventory and Receivables - Accounts receivable rose to ¥91,780,437.13 from ¥79,984,537.57, an increase of about 14.4%[14] - Inventory decreased slightly to ¥188,577,681.87 from ¥191,519,421.57, a decline of approximately 1.5%[15] Borrowings - Short-term borrowings increased by 40.75% to ¥34,556.81 million, attributed to an increase in bank working capital loans[7] - Short-term borrowings increased significantly to ¥345,568,069.32 from ¥245,516,128.14, an increase of approximately 40.7%[16]

Financial Performance - The company's operating performance experienced a significant decline compared to the previous year, consistent with industry trends[6]. - The company plans not to distribute cash dividends, issue bonus shares, or increase capital using reserves[7]. - The financial report has been confirmed as true, accurate, and complete by the company's management[5]. - The company maintains its core competitiveness and major financial indicators have not undergone significant adverse changes[6]. - Future plans and development strategies are subject to risks, and investors are advised to be aware of these risks[6]. - The company has not reported any major changes in its main business operations during the reporting period[6]. - The company's operating revenue for 2021 was ¥720,861,862.33, representing a 45.80% increase compared to ¥494,410,008.76 in 2020[21]. - The net profit attributable to shareholders decreased by 76.13% to ¥6,600,130.88 in 2021 from ¥27,649,214.30 in 2020[21]. - The net profit after deducting non-recurring gains and losses was ¥8,921,264.30, down 64.62% from ¥25,217,231.35 in the previous year[21]. - The net cash flow from operating activities was ¥43,854,515.59, a decrease of 32.26% compared to ¥64,739,758.59 in 2020[21]. - The total assets at the end of 2021 were ¥1,399,526,483.81, an increase of 13.58% from ¥1,232,225,820.64 at the end of 2020[21]. - The company reported a basic earnings per share of ¥0.03, down 75.00% from ¥0.12 in 2020[21]. - The weighted average return on equity decreased to 0.87% in 2021 from 3.56% in 2020, a decline of 2.69 percentage points[21]. Market and Industry Trends - The company is focused on the radiation curing industry, with significant growth potential in UV curing products due to increasing environmental regulations[31]. - There is a growing demand for new types of photoinitiators suitable for UV LED light sources, prompting increased R&D investment[32]. - The Chinese pharmaceutical market is expected to reach RMB 1.7 trillion in 2021, with a compound annual growth rate (CAGR) of 5.40% from 2016 to 2021[39]. - The demand for pesticide intermediates has shown significant growth, with the global pesticide market sales increasing from USD 25.7 billion in 2001 to USD 57.5 billion in 2020, reflecting an average annual growth of 4%[40]. - The market for pharmaceutical intermediates in China is projected to exceed RMB 290 billion by 2026, driven by the expanding pharmaceutical industry[39]. - The printing and dyeing industry in China achieved a production volume of 60.58 billion meters in 2021, marking a year-on-year growth of 11.76%[40]. Research and Development - The company is leveraging its product and technical advantages to innovate in the fields of UV curing materials and light initiators, responding to the growing demand in various industries[34]. - The company is focusing on the development of UV-LED light initiators and low-migration light initiators, with a production capacity of over 30,000 tons per year for chlorinated titanium dioxide[34]. - The company has established a provincial-level R&D center equipped with top domestic research facilities[67]. - The company is actively promoting the innovation and R&D of new photoinitiators based on its industrial chain and process technology advantages[66]. - Key R&D focuses include new synthesis technologies for sulfur-containing fine chemicals and the development of environmentally friendly formulations suitable for UV-LED light sources[122]. - The company has completed the development of 1 product for the oxime ester photoinitiator, which has passed scientific achievement identification, aiming to develop high-purity, low-cost industrial production technology[98]. - The company has completed the development of 2 products in the free radical photoinitiator series, which will expand the application range and positively impact future operations[99]. Production and Capacity - The company has two production bases in Zhejiang and Inner Mongolia, enhancing its competitive advantage and global influence in the photoinitiator sector[58]. - The production capacity utilization rate for photoinitiators is 29.01%, with a designed capacity of 15,000 tons[66]. - The company has invested in a new production line for photoinitiators with a capacity of 11,000 tons, which has been completed and put into operation[66]. - The Inner Mongolia production base officially commenced production in May 2021, with a designed annual capacity of 29,000 tons for photoinitiators and pharmaceutical intermediates[81]. - The company aims to become a leading global supplier of UV-curable new materials, focusing on thiol compounds and expanding into pharmaceuticals, pesticides, dyes, and electronics[117]. - In 2022, the company plans to steadily release production capacity at its Inner Mongolia base, targeting a production capacity of 29,000 tons per year for photoinitiators and pharmaceutical intermediates[118]. Financial Management - The company's total operating costs rose to ¥585,579,927.67, reflecting a 61.61% increase year-on-year[87]. - The total investment amount for the reporting period was ¥150,529,715.91, reflecting a decrease of 18.98% from the previous year's investment of ¥185,798,613.50[109]. - The company's long-term borrowings decreased by 6.34% to ¥35,500,000.00, primarily due to the reduction of long-term borrowings maturing in over one year[105]. - The company reported a significant increase in financial expenses by 42.07%, primarily due to increased loan interest payments[97]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 5.1555 million[165]. - The remuneration decision process involves the Board's Compensation and Assessment Committee, with final approval from the Board and shareholders[163]. Governance and Compliance - The company has a governance structure with a clear distinction between independent and non-independent directors[152]. - The board of directors held a total of 5 meetings during the reporting period, with all members actively participating[167]. - The audit committee conducted 5 meetings, ensuring compliance with legal regulations and maintaining high standards of internal control[170]. - The company is committed to maintaining transparency and accountability in its financial reporting and governance practices[170]. - The company has established a comprehensive internal control system that effectively covers major aspects of its operations, with no significant omissions identified[181]. - The internal control self-assessment report indicated that 100% of the total assets and operating income of the evaluated units were included in the company's consolidated financial statements[183]. Environmental Responsibility - The company has a wastewater treatment facility with a capacity of 300 tons per day, utilizing advanced treatment processes to ensure compliance with discharge standards[188]. - The company reported a total of 6.909 tons of COD and 0.159 tons of NH3-N discharged from its wastewater, both within the regulatory limits[187]. - The company has implemented a pollution prevention facility that operates continuously, ensuring effective treatment of wastewater and emissions[188]. - The company is actively pursuing green factory initiatives, focusing on automation and production process optimization to enhance sustainability[196]. - No administrative penalties were imposed on the company during the reporting period, indicating compliance with environmental regulations[195]. Human Resources - The total number of employees at the end of the reporting period was 894, with 205 in the parent company and 689 in major subsidiaries[173]. - The professional composition includes 643 production personnel, 20 sales personnel, 118 technical personnel, 21 financial personnel, and 92 administrative personnel[174]. - The company aims to attract and retain key talent through competitive compensation and incentive systems[175]. - In 2021, the company focused on internal training, particularly for new employees and middle management, to enhance professional skills and corporate competitiveness[177]. Risks and Challenges - The company faces risks from macroeconomic factors, including the impact of COVID-19 on production and logistics, which could affect performance[125]. - Rising raw material prices and labor costs pose risks to profitability, prompting the company to enhance cost control measures and improve operational efficiency[129][131]. - The company is addressing market competition risks by leveraging its entire industry chain and exploring new profit growth points[128].

Financial Performance - The company's revenue for Q3 2021 reached ¥157,382,177.22, representing a 56.61% increase compared to the same period last year[3] - The net profit attributable to shareholders was a loss of ¥2,923,319.48, a significant decline of 614.04% year-over-year[3] - The net profit after deducting non-recurring gains and losses was also a loss of ¥2,796,272.34, down 1,494.50% from the previous year[3] - Total operating revenue for Q3 2021 reached ¥474,651,935.08, a 47.3% increase from ¥322,331,610.07 in Q3 2020[20] - Operating profit for Q3 2021 was ¥4,697,811.53, down 76.2% from ¥19,714,294.51 in the same period last year[20] - Net profit attributable to the parent company was ¥6,995,118.84, compared to ¥19,298,954.78 in Q3 2020, reflecting a decrease of 63.7%[21] - The company reported a comprehensive income total of ¥2,286,949.67 for Q3 2021, compared to ¥4,584,544.49 in the same quarter last year[21] - The company experienced a net profit margin of approximately 1.21% in Q3 2021, down from 5.99% in Q3 2020[20] Assets and Liabilities - Total assets at the end of Q3 2021 amounted to ¥1,319,802,413.31, reflecting a 7.11% increase from the end of the previous year[3] - The company's total current assets as of September 30, 2021, amounted to CNY 388,850,726.56, an increase from CNY 350,786,366.46 at the end of 2020[16] - The total assets of the company reached CNY 1,319,802,413.31, compared to CNY 1,232,225,820.64 at the end of 2020[16] - Total liabilities amounted to ¥545,336,241.75, an increase from ¥471,933,288.68 year-on-year[20] - The company's total equity reached ¥774,466,171.56, up from ¥760,292,531.96 in the previous year[20] Cash Flow - The cash flow from operating activities for the first nine months was ¥7,981,250.51, down 78.99% compared to the same period last year[3] - Operating cash inflow for the period reached ¥531,617,184.43, up from ¥382,118,889.61 in the previous period, representing an increase of approximately 39.2%[23] - Net cash flow from operating activities was ¥7,981,250.51, a decrease of 78.9% compared to ¥37,993,218.02 in the same period last year[23] - Cash outflow from investing activities totaled ¥168,435,032.78, compared to ¥148,293,961.20 in the previous period, indicating an increase of about 13.5%[25] - Net cash flow from investing activities was -¥113,390,161.26, an improvement from -¥148,258,961.20 year-over-year[25] - Cash inflow from financing activities amounted to ¥458,933,868.08, slightly up from ¥442,040,000.00 in the previous period, reflecting an increase of approximately 3.1%[25] - Net cash flow from financing activities was ¥83,770,141.21, an increase of 41.8% compared to ¥59,127,007.17 in the same period last year[25] - The ending balance of cash and cash equivalents was ¥30,820,247.89, down from ¥31,587,325.17 in the previous period[25] Production and Costs - The company's operating income for the first nine months of 2021 was ¥474,651,935.08, up 47.26% year-over-year, driven by increased production and sales from new projects[7] - The company experienced a 69.78% increase in operating costs, totaling ¥383,626,425.03, attributed to rising material prices and increased production[7] - The company's production base in Inner Mongolia is gradually ramping up, but production has not yet reached design capacity, affecting cost advantages[12] - The company is experiencing increased production costs due to rising prices of upstream raw materials for photoinitiators, which are expected to stabilize in Q4[12] - The company's "expansion and renovation" project and the first phase of the Inner Mongolia production base are progressing steadily, leading to increased financial costs[13] - The Inner Mongolia Yangfan Phase I project has entered trial production, with an annual capacity of 18,075 tons of fine chemicals[14] Shareholder Information - The total number of common shareholders at the end of the reporting period was 15,506[10] - Zhejiang Yangfan Holding Group Co., Ltd. holds 23.69% of shares, with 55,606,200 shares pledged at 35,960,000[10] Research and Development - Research and development expenses for Q3 2021 were ¥20,925,926.31, slightly up from ¥19,184,485.60 in Q3 2020[20] Pricing Strategy - The company is implementing a more flexible pricing strategy to increase market share, impacting short-term product margins[12] - The company anticipates that the value of ongoing projects will gradually materialize in Q4[12] Government Support - The company received government subsidies amounting to ¥290,418.24 during the reporting period, contributing to its financial performance[5] Earnings Per Share - Basic and diluted earnings per share for Q3 2021 were both ¥0.03, down from ¥0.08 in Q3 2020[21]