Financial Performance - Total revenue for Q1 2018 was CNY 116,503,465.70, representing a 29.00% increase compared to CNY 90,315,807.82 in the same period last year[7] - Net profit attributable to shareholders was CNY 26,700,116.44, a significant increase of 152.74% from CNY 10,564,236.59 year-on-year[7] - Basic earnings per share rose to CNY 0.22, an increase of 83.33% from CNY 0.12 in the same quarter last year[7] - The total profit for the quarter was CNY 31,616,668.58, marking a 149.46% increase year-over-year[28] - The company's net profit for Q1 2018 was not explicitly stated, but the increase in revenue and costs suggests a focus on growth despite rising expenses[50] - The net profit for Q1 2018 reached CNY 26,700,116.44, representing a significant increase of 153.5% from CNY 10,564,236.59 in Q1 2017[52] - The operating profit for the quarter was CNY 31,080,998.58, up from CNY 12,577,845.49 in the previous year, indicating a growth of 147.5%[52] Cash Flow and Liquidity - Net cash flow from operating activities reached CNY 13,428,241.79, marking a substantial increase of 2,717.42% compared to CNY 476,614.27 in the previous year[7] - Cash inflow from operating activities totaled CNY 57,407,389.56, up from CNY 36,673,934.71 year-over-year[61] - The cash inflow from operating activities totaled CNY 136,048,860.14, compared to CNY 78,536,129.98 in the previous year, showing a growth of 73.3%[58] - Total cash and cash equivalents at the end of the period reached CNY 188,184,733.85, an increase from CNY 181,435,294.63 at the beginning of the period[59] - The net increase in cash and cash equivalents for the period was CNY 6,749,439.22, contrasting with a decrease of CNY 16,137,882.77 in the previous period[59] Assets and Liabilities - Total assets at the end of the reporting period were CNY 662,002,036.40, up 2.03% from CNY 648,858,704.45 at the end of the previous year[7] - Current assets totaled CNY 356.01 million, slightly up from CNY 353.29 million at the beginning of the year, indicating stable liquidity[46] - Total liabilities decreased to CNY 69.55 million from CNY 85.35 million, showing a reduction in financial obligations[44] - The company's equity increased to CNY 592.46 million from CNY 563.51 million, reflecting a growth of approximately 5.1%[45] Operational Highlights - The company is focusing on continuous product development and technological innovation to maintain competitive advantages in the rapidly evolving market[9] - The company has established a stable core R&D team and is actively recruiting talent from local universities to enhance its research capabilities[10] - The company achieved operating revenue of CNY 116,503,465.70 in Q1 2018, representing a 29% increase compared to the same period last year[28] - The company plans to continue investing in the pharmaceutical intermediate sector to expand production capacity and enhance market competitiveness[29] - The company has exceeded its quarterly targets for the annual business plan and will continue to advance steadily according to the annual plan[30] Risks and Challenges - The company is facing risks related to raw material price fluctuations, which have impacted costs and profitability during the reporting period[13] - The company has implemented strategies to mitigate exchange rate risks associated with its overseas sales, which accounted for approximately 29.51% of total revenue in 2017[15] - There were no significant risks or difficulties reported that could adversely affect future operations[30] Inventory and Receivables - Accounts receivable decreased by 72.62% to CNY 1,750,210.74 due to a reduction in sales using acceptance settlement[25] - Prepayments increased by 61.39% to CNY 5,217,382.44 as a result of increased advance payments for raw material purchases[25] - The company reported a 214.05% increase in construction materials to CNY 1,582,578.00, primarily due to an increase in equipment awaiting installation[25] - Inventory levels rose to CNY 86,788,528.81 from CNY 79,980,053.23, reflecting increased stock levels[42] Expenses - The company's management expenses rose to CNY 15,011,437.50, up from CNY 12,325,220.54, reflecting a 21.8% increase[52] - Sales expenses increased to CNY 1,959,961.70 from CNY 1,651,086.88, which is a growth of 18.6%[52] - The company recorded a financial expense of CNY 1,122,257.54, slightly up from CNY 1,056,494.86, indicating a 6.2% increase[52] Market Presence - The company is focusing on expanding its market presence and enhancing product offerings, although specific new products or technologies were not detailed in the report[50] - The company experienced a significant increase in operating income driven by higher sales volumes and prices of photoinitiators and thiol compounds[26] - Total sales amount from the top five customers reached ¥40,144,036.97, an increase of 15.21% compared to the same period last year[30] - The sales amount from the top five customers accounted for 34.36% of total revenue, down from 38.58% year-on-year, a decrease of 4.22%[30]

Financial Performance - The company's operating revenue for 2017 was ¥436,471,908.25, representing a 13.31% increase compared to ¥385,213,298.19 in 2016[28]. - The net profit attributable to shareholders for 2017 was ¥65,209,672.24, an increase of 8.21% from ¥60,263,766.71 in 2016[28]. - The net profit after deducting non-recurring gains and losses was ¥60,615,749.14, showing a slight decrease of 0.87% compared to ¥61,148,352.27 in 2016[28]. - The total assets at the end of 2017 reached ¥648,858,704.45, a significant increase of 43.97% from ¥450,684,754.21 at the end of 2016[28]. - The net assets attributable to shareholders increased by 102.19% to ¥563,513,235.20 at the end of 2017, up from ¥278,705,670.88 in 2016[28]. - The basic earnings per share for 2017 was ¥0.59, down 11.94% from ¥0.67 in 2016[28]. - The weighted average return on equity for 2017 was 14.17%, a decrease of 9.33% from 23.50% in 2016[28]. - The net cash flow from operating activities for 2017 was ¥82,749,314.03, a decrease of 13.92% compared to ¥96,126,971.76 in 2016[28]. - The company reported quarterly revenues of ¥90,315,807.82, ¥100,033,562.19, ¥133,330,868.88, and ¥112,791,669.36 for Q1, Q2, Q3, and Q4 respectively[30]. - The total non-recurring gains and losses for 2017 amounted to ¥4,593,923.10, compared to a loss of ¥884,585.56 in 2016[34]. Research and Development - The company has maintained a stable core R&D team and has strengthened its collaboration with universities to secure technical talent[7]. - The company is investing in product innovation and process improvement to enhance its competitive edge in the market[6]. - Research and development (R&D) investment reached ¥20,685,162.56, which is 4.74% of operating revenue, an increase from 4.48% in the previous year[88]. - The number of R&D personnel increased to 76, representing 11.75% of the total workforce, up from 8.76% in 2016[88]. - The company has applied for 16 invention patents and 25 utility model patents, showcasing its commitment to technological innovation[57]. - The company is in the process of expanding its R&D centers to strengthen its technological development capabilities[57]. - The company is focusing on R&D in green synthesis technology and developing new photoinitiator products to broaden its product line[112]. Market Position and Strategy - The company is a leading global supplier of photoinitiators and thiol compounds, with photoinitiator 907 holding over 60% of the global market share[38]. - The company has a comprehensive product range with over 500 varieties of thiol compounds, making it one of the most complete suppliers in China[38]. - The company's revenue model is based on the R&D, production, and sales of proprietary photoinitiators and thiol compounds, ensuring high product quality and low costs through full supply chain control[40]. - The company benefits from supportive national policies aimed at strategic emerging industries, which are expected to stimulate demand for its products[45]. - The tightening of environmental regulations has led to increased product prices and margins, as many smaller competitors have been forced to shut down or restructure[46]. - The photoinitiator market is experiencing stable demand growth due to the expanding applications of photopolymerization technology across various industries[47]. - The domestic photoinitiator industry is consolidating, with major players including the company, Jiu Ri Chemical, and Qiangli New Materials, indicating a trend towards increased market concentration[49]. - The company maintains a stable market share in the thiol compound sector, with limited competition from larger firms like Sumitomo Chemical[49]. - The company’s production model includes both continuous and non-continuous production methods, optimizing efficiency based on customer demand[42]. - The company emphasizes customized production to meet specific client needs, particularly in the thiol compound market, enhancing its competitive edge[44]. Financial Management and Investments - The company has committed to invest RMB 24,603 million in projects, with RMB 70.07 million already invested in the technical R&D center, representing 1.40% of the total commitment[101]. - The company raised a total of RMB 30,060 million through its IPO, with a net amount of RMB 24,603 million after deducting issuance fees[98]. - The company has established a strong market demand for UV curing materials due to restrictions on traditional solvent-based products[106]. - The company is focusing on the development of sulfur-containing fine chemicals, which have broad applications in pharmaceuticals, pesticides, and new materials[107]. - The company has not sold any significant assets or equity during the reporting period[103]. - The company has not engaged in any asset or equity acquisition or sale transactions during the reporting period[157]. - The company has not encountered any penalties or rectification issues during the reporting period[151]. - The company has not faced any major litigation or arbitration matters during the reporting period[150]. Environmental and Safety Compliance - The company emphasizes the importance of safety and environmental protection, reporting no major safety incidents or significant environmental violations during the reporting period[12]. - The company has built wastewater treatment facilities with a capacity of 300 tons/day at both production bases, utilizing advanced treatment processes to ensure compliance with discharge standards[178]. - The company reported no violations of environmental protection laws during the reporting period and emphasized its commitment to energy conservation and emission reduction[177]. - The company has committed to enhancing its air pollution control measures in 2018 by increasing the construction of gas collection and treatment facilities[179]. - The company has implemented a comprehensive environmental monitoring plan, publicly disclosing pollution data monthly to comply with national regulations[185]. Shareholder and Corporate Governance - The company plans to distribute a cash dividend of 2.00 RMB per 10 shares (including tax) based on a total of 123,278,000 shares[16]. - The company has maintained a cash dividend policy, distributing CNY 36,000,000 in both 2015 and 2016, which accounted for 86.22% and 59.74% of the respective net profits[141]. - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of the IPO, which is set to expire in April 2020[142]. - The company will not transfer or entrust the management of its shares for 12 months from the IPO date, which is also set to expire in April 2018[142]. - The company has confirmed that it will not engage in any competitive business activities with its subsidiaries during the period of shareholding[143]. - The company has committed to not providing financial, management, or technical support to any competing entities[143]. - The company has ensured that any unfulfilled commitments regarding share sales will result in the proceeds being submitted to the company[143]. - The company has a guarantee amount of 5,000,000 CNY for Zhejiang Shourufu Chemical Trading Co., Ltd., with a guarantee period until June 1, 2019[166]. - The company has maintained its independence in operations, finance, and business, avoiding significant related party transactions[144]. - The company has engaged Zhonghui Certified Public Accountants for auditing services, with a fee of CNY 500,000 for the year[150].

浙江扬帆新材料股份有限公司 2017 年第三季度报告 浙江扬帆新材料股份有限公司 2017 年第三季度报告 2017-056 2017 年 10 月 1 浙江扬帆新材料股份有限公司 2017 年第三季度报告 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。 公司负责人樊培仁、主管会计工作负责人上官云明及会计机构负责人(会计 主管人员)樊相东声明：保证季度报告中财务报表的真实、准确、完整。 2 浙江扬帆新材料股份有限公司 2017 年第三季度报告 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） | 667,807,246.76 | | 450,684,754.21 | 48.18% | | 归属于上市公司股东的净资产 | 537,385 ...

Financial Performance - Total revenue for the first half of 2017 was CNY 190,349,370.01, a slight increase of 0.08% compared to CNY 190,193,798.63 in the same period last year[18]. - Net profit attributable to shareholders decreased by 17.54% to CNY 23,596,984.01 from CNY 28,615,250.74 year-on-year[18]. - Net profit after deducting non-recurring gains and losses fell by 19.17% to CNY 23,718,877.69 compared to CNY 29,345,877.23 in the previous year[18]. - Basic and diluted earnings per share both decreased by 25.00% to CNY 0.24 from CNY 0.32 in the same period last year[18]. - Weighted average return on equity dropped to 6.44%, down 5.02% from 11.46% in the previous year[18]. - The company reported a decrease in operating profit to CNY 27,326,017.15 from CNY 32,851,918.22, a decline of approximately 17%[141]. - The total comprehensive income for the period amounted to CNY 23,596,984.01, reflecting a significant increase compared to the previous period[155]. Cash Flow and Investments - Operating cash flow net amount decreased by 40.10% to CNY 13,856,880.86 from CNY 23,133,273.28 year-on-year[18]. - The net cash flow from operating activities decreased by 40.10% to ¥13,856,880.86, mainly due to reduced tax refunds and government subsidies[47]. - The net cash flow from investing activities worsened by 651.48% to -¥131,029,950.03, attributed to cash management of idle raised funds[48]. - The net cash flow from financing activities increased by 500.24% to ¥197,991,535.13, driven by additional funds raised from public offerings[48]. - The cash outflow from investment activities was ¥251,536,340.99, which is more than double the outflow of ¥108,520,111.59 in the same period last year, reflecting increased investment activities[153]. Assets and Liabilities - Total assets increased by 50.57% to CNY 678,609,486.05 from CNY 450,684,754.21 at the end of the previous year[18]. - Total liabilities decreased slightly to ¥165,627,003.93 from ¥171,979,083.33, a reduction of approximately 3.5%[134]. - Shareholders' equity increased to ¥512,982,482.12 from ¥278,705,670.88, representing a growth of about 84%[134]. - The company's monetary funds accounted for 31.14% of total assets, significantly up from 10.13% in the previous year, due to the public offering[51]. Research and Development - Research and development expenses rose by 22.59% to ¥10,298,183.82, reflecting the company's increased investment in R&D resources[47]. - The company emphasizes the need for continuous product development and technological innovation to maintain competitive advantages in the photoinitiator and thiol compound markets[76]. Environmental and Safety Measures - The company has committed to significant annual investments in environmental protection, with real-time monitoring of wastewater discharge and the use of RTO systems for waste gas treatment[72]. - The company has not experienced any environmental pollution incidents or serious safety accidents during the reporting period[42]. - The company has implemented safety measures including regular equipment maintenance and safety training for workers to mitigate production risks associated with hazardous materials[73]. Corporate Governance and Management - The company is enhancing its internal control systems and corporate governance to ensure effective decision-making processes[38]. - The company has a stable core management team and key technical personnel, with no significant changes in core competitiveness during the reporting period[30]. - The company has established a commitment to avoid conflicts of interest with its subsidiaries[88]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[5]. - The total number of shareholders at the end of the reporting period is 19,659[116]. - Zhejiang Yangfan Holding Group Co., Ltd. holds 30.17% of shares, totaling 36,198,000 shares[116]. - The public float accounts for 25.00%, with 30,000,000 shares available[118]. Risks and Challenges - The company faces risks related to market demand fluctuations for photoinitiators, particularly in the PCB ink and UV coating sectors, which could impact profitability[74]. - The overall price of raw materials has been on an upward trend, which may adversely affect the company's profit margins if price volatility increases[75]. - The company has a significant reliance on skilled technical personnel, and there is a risk of insufficient talent as business expands[78]. Financial Reporting and Compliance - The financial report has not been audited, which may affect the reliability of the presented figures[129]. - The company confirms its ability to continue as a going concern for the next 12 months from the reporting date[169]. - The financial statements are prepared based on the going concern principle and comply with the relevant accounting standards issued by the Ministry of Finance[168].

Financial Performance - Total revenue for Q1 2017 was ¥90,315,807.82, representing a 6.16% increase compared to ¥85,074,702.92 in the same period last year[8] - Net profit attributable to shareholders was ¥10,564,236.59, an increase of 18.74% from ¥8,897,242.94 year-on-year[8] - Basic earnings per share rose to ¥0.12, reflecting a 20.00% increase from ¥0.10 in the previous year[8] - The total profit for Q1 2017 was ¥12,673,856.55, reflecting a 13.89% growth from ¥11,128,616.15 year-over-year[29] - Net profit attributable to shareholders reached ¥10,564,236.59, marking an 18.74% increase from ¥8,897,242.94 in the previous year[29] - Operating profit for the current period was ¥12,577,845.49, compared to ¥9,548,194.20 in the previous period, representing a growth of approximately 32.3%[52] - The company reported a total profit of ¥12,673,856.55, compared to ¥11,128,616.15 in the previous period, marking an increase of approximately 13.9%[52] Cash Flow - The net cash flow from operating activities decreased significantly by 96.32%, down to ¥476,614.27 from ¥12,949,427.51[8] - Cash flow from operating activities was ¥78,536,129.98, down from ¥102,318,400.89 in the previous period, a decrease of approximately 23.2%[59] - The net cash flow from operating activities for the first quarter was CNY 6,607,732.45, an increase of 55% compared to CNY 4,263,985.97 in the previous period[62] - Total cash outflow from operating activities was CNY 78,059,515.71, down from CNY 89,368,973.38, indicating a reduction of approximately 12.9%[60] - The net cash flow from investing activities was -CNY 5,571,967.59, compared to -CNY 13,495,803.14 in the previous period, showing an improvement of 58.7%[61] - Cash inflow from financing activities totaled CNY 9,999,644.57, while cash outflow was CNY 10,652,500.00, resulting in a net cash flow of -CNY 10,652,500.00[61] - The ending balance of cash and cash equivalents was CNY 86,711,604.03, a decrease from CNY 102,849,486.80 at the beginning of the period[61] Assets and Liabilities - Total assets at the end of the reporting period were ¥451,617,811.30, a slight increase of 0.21% from ¥450,684,754.21 at the end of the previous year[8] - The total current assets increased slightly to CNY 252,060,026.21 from CNY 250,456,900.18, representing a growth of approximately 0.64%[43] - Total liabilities decreased to CNY 161,878,261.17 from CNY 171,979,083.33, a decline of approximately 5.9%[45] - The total equity attributable to the parent company increased to CNY 289,739,550.13 from CNY 278,705,670.88, showing a growth of about 3.7%[46] - The company reported a decrease in short-term borrowings to CNY 120,100,000.00 from CNY 130,100,000.00, a reduction of approximately 7.7%[44] Shareholder Information - Total number of common shareholders at the end of the reporting period is 10[19] - The largest shareholder, Zhejiang Yangfan Holding Group Co., Ltd., holds 40.22% of shares, totaling 36,198,000 shares[19] - The second largest shareholder, SFC CO., LTD., holds 21.74% of shares, totaling 19,566,000 shares[19] - The company has not conducted any repurchase transactions among the top 10 common shareholders during the reporting period[20] - The total number of restricted shares at the end of the period is 90,000,000, with no shares released from restrictions during the reporting period[22] Operational Insights - The company faces risks related to market demand fluctuations and intensified competition in the light curing agent industry[11][12] - The company emphasizes the need for continuous innovation and development in technology to maintain competitive advantages in the market[13] - The total procurement amount from the top five suppliers was ¥9,419,121.45, down 34.28% from ¥14,332,817.72 year-over-year[31] - The procurement amount from the top five suppliers accounted for 23.00% of total procurement, a decrease of 15.37% compared to 38.37% in the same period last year[31] - Sales amount from the top five customers was ¥34,843,046.05, which is a 6.81% increase from ¥32,620,636.91 year-over-year[32] - The sales amount from the top five customers represented 38.58% of total operating revenue, slightly up from 38.34% in the previous year[32] Expenses - Financial expenses increased by 3505.79% year-on-year, totaling 1,056,494.86 due to the absence of interest income from bank acceptance deposits[26] - The company reported a 70.88% decrease in tax refunds received, totaling 1,380,571.63 compared to the previous year[28] - Sales expenses decreased to ¥271,808.86 from ¥287,392.23, a reduction of about 5.4%[56] - Management expenses slightly decreased to ¥4,055,843.30 from ¥4,067,285.93, indicating a marginal decline of 0.3%[56] - Tax expenses for the current period were ¥2,109,619.96, down from ¥2,231,373.21, reflecting a decrease of about 5.5%[52] Other Financial Metrics - The company received government subsidies amounting to ¥162,063.58 during the reporting period[9] - The company has not received any loans during the reporting period, contrasting with 9,999,644.57 received in the previous period[28] - The company’s retained earnings rose to CNY 102,824,884.95 from CNY 92,260,648.36, an increase of about 11.5%[46] - The company incurred CNY 10,000,000.00 in cash outflow related to other investment activities, compared to CNY 26,186,500.63 in the previous period[64] - The cash flow from financing activities included CNY 326,250.00 for dividend payments, significantly lower than CNY 28,094,395.54 in the previous period[64]