Financial Performance - The company's operating revenue for 2021 was CNY 1,249,100,593, a decrease of 21.24% compared to CNY 1,585,910,182 in 2020[24]. - The net profit attributable to shareholders was CNY 16,842,500.96, representing a significant decline of 94.38% from CNY 299,505,974.40 in the previous year[24]. - The basic earnings per share dropped to CNY 0.07, down 94.74% from CNY 1.99 in 2020[24]. - The net cash flow from operating activities was CNY 53,421,994.79, a decrease of 83.89% from CNY 331,536,650.49 in the previous year[24]. - The company's gross profit margin for disposable hygiene products was 16.84%, down by 18.76% from the previous year[74]. - The total operating revenue for the reporting period was CNY 1,249,100,593.46, representing a decrease of 21.24% compared to CNY 1,585,910,182.99 in the previous year[71]. - The company reported a significant decline in sales of meltblown fabric, impacting overall revenue and cash flow[86]. Market Trends and Opportunities - The market for adult diapers and wipes is expected to grow, despite uncertainties in the overall birth rate due to the new three-child policy[11]. - The market for disinfecting wipes saw a significant increase, with a growth rate of 16.4% in 2020, driven by heightened demand due to the pandemic[37]. - The company has identified opportunities for market expansion in the elderly care products sector, projected to exceed ¥5 trillion by 2025[37]. - The disposable hygiene products industry is experiencing intensified competition, necessitating continuous innovation and adaptation by the company[10]. - The company plans to focus on high-end disposable hygiene products, with a growing demand for disinfecting wipes and baby wipes post-pandemic[7]. Customer and Supplier Dynamics - In 2021, the revenue from the top five customers was 1,043.56 million yuan, accounting for 83.54% of total revenue, indicating high customer concentration risk[10]. - The company’s major suppliers accounted for 48.58% of total procurement, with the top five suppliers being closely related to the company[80]. - The company signed significant sales contracts, with the top five customers accounting for 83.54% of total sales, led by Procter & Gamble with 55.56%[79]. Cost and Operational Challenges - The company faces significant cost pressures from rising raw material prices and increased shipping costs, impacting profit margins[6]. - The company has undergone adjustments in accounting policies, which affected the financial data for the reporting period[24]. - The company’s production volume for disposable hygiene products decreased by 5.23% to 45,266.76 tons, while inventory increased by 12.29% to 2,436.38 tons[75]. Innovation and R&D - The company holds a total of 22 invention patents, 58 utility model patents, and 39 design patents as of December 31, 2021, indicating strong R&D capabilities[47]. - The company has successfully commercialized 3D perforated non-woven fabric, which is now used in high-end sanitary napkins and leading baby diapers, contributing to sustained business growth[48]. - The company is focusing on innovation and customer collaboration to meet the evolving demands of high-end clients, which is expected to drive future growth[56]. International Expansion - The company has been investing in overseas production bases to enhance its international presence, which introduces management challenges[11]. - The company has established overseas production bases in Egypt, the USA, and India, which have helped reduce logistics costs and improve overseas demand[46]. - The company aims to leverage its overseas supply chain advantages to expand into markets in the Americas, Europe, Africa, and the Middle East, enhancing its global competitiveness[113]. Governance and Compliance - The company has established a governance structure with clear decision-making, execution, and supervision responsibilities[167]. - The company has implemented a transparent performance evaluation and incentive mechanism for senior management, ensuring fair compensation practices[124]. - The company adheres to strict information disclosure practices, ensuring timely and accurate communication with investors through designated platforms[124]. Shareholder Relations and Profit Distribution - The company will not distribute cash dividends or issue bonus shares for the year[12]. - The profit distribution plan for 2021 is not to distribute cash dividends, stock dividends, or increase capital from the capital reserve[161]. - The company plans to distribute at least 15% of the distributable profits as cash dividends, with a minimum of 20% of the cash dividends in each distribution[158]. Employee Management and Development - The company emphasizes a competitive salary policy and a fair performance evaluation mechanism to retain and attract talent[156]. - The company has a training plan that includes various training programs to enhance employee skills and align with strategic goals[157]. - The total number of employees at the end of the reporting period was 1,083, with 643 in the parent company and 440 in major subsidiaries[154].

厦门延江新材料股份有限公司 2021 年第三季度报告 证券代码：300658 证券简称：延江股份 公告编号：2021-101 厦门延江新材料股份有限公司 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准 确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带 的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声 明：保证季度报告中财务信息的真实、准确、完整。 3.第三季度报告是否经过审计 | | 本报告期 | 本报告期比上年同期增 | 年初至报告期末 | 年初至报告期末比上年 | | --- | --- | --- | --- | --- | | | | 减 | | 同期增减 | | 营业收入（元） | 311,877,825.57 | -2.43% | 876,783,695.19 | -30 ...

Financial Performance - The company reported a revenue of 992.59 million yuan for 2020, which accounted for 62.59% of total operating income, indicating a high customer concentration risk[8]. - The company's revenue for the reporting period was ¥564,905,869.62, a decrease of 40.45% compared to ¥948,681,819.73 in the same period last year[30]. - The net profit attributable to shareholders was ¥4,074,793.68, down 98.66% from ¥304,348,525.03 year-on-year[30]. - The net profit after deducting non-recurring gains and losses was -¥5,024,118.71, a decline of 101.73% compared to ¥289,588,617.32 in the previous year[30]. - The net cash flow from operating activities was ¥76,581,727.53, a decrease of 77.25% from ¥336,573,382.55 in the same period last year[30]. - The total assets at the end of the reporting period were ¥1,895,935,614.27, down 3.92% from ¥1,973,354,374.96 at the end of the previous year[30]. - The net assets attributable to shareholders decreased by 8.63% to ¥999,223,074.95 from ¥1,093,590,612.70 at the end of the previous year[30]. - The company reported a net cash increase of ¥124.94 million, a 279.14% increase compared to ¥32.95 million in the previous year, due to reduced balances in financial products and structured deposits[57]. - The company reported a total comprehensive income of -21,895,958.41 yuan for the first half of 2021, compared to 286,373,871.34 yuan in the same period of 2020[188]. - The company reported a significant increase in revenue, achieving a total of 6,045.74 million yuan in the first half of 2021[134]. Market Dynamics - The disposable hygiene products industry is experiencing intensified competition, driven by policy changes and market dynamics, which may lead to industry reshuffling[6]. - The market for baby diapers has shown signs of stagnation due to declining birth rates, while adult diapers and other disposable products have clearer growth potential[11]. - The adult incontinence products market grew by 22.5% year-on-year, reaching approximately RMB 11.5 billion, with adult diapers accounting for 71.3% of total consumption[44]. - The market for domestic wipes increased by 16.4% year-on-year, with a market size of approximately RMB 22.46 billion, driven by heightened demand for hygiene products during the pandemic[44]. - The infant diaper market size was RMB 48.6 billion, slightly decreasing by 2.6% year-on-year, while market penetration rose from 72.2% to 77.1%[43]. Strategic Initiatives - The company plans to establish more overseas production bases as part of its strategy to expand international operations[15]. - The company is focusing on expanding its product range and optimizing its product structure, including launching a stock issuance project to fund new non-woven fabric projects[37]. - The company has established overseas production bases in Egypt, the USA, and India to enhance its global supply chain and reduce logistics costs[40]. - The company is expanding its overseas production bases, which presents management challenges due to differing policies and regulations[104]. - The company aims to enhance its global supply chain and actively explore markets in the Americas, Europe, Africa, and the Middle East, with an increasing proportion of overseas sales[107]. Innovation and Development - The company emphasizes the need for continuous innovation and product development to maintain competitiveness in a rapidly changing market[6]. - The company has established a dedicated wiping products division to commercialize high-end wiping non-woven fabrics and expand its global market presence[106]. - The company has made significant advancements in its core technologies, achieving automation in the entire production process of hot air non-woven fabric, which has greatly improved production efficiency and product quality stability[51]. - The company has optimized internal management to enhance operational efficiency, ensuring that performance growth translates effectively into profits[41]. - The company is accelerating the development and launch of new products, including pure cotton spunlace non-woven fabric and spunbond non-woven fabric, with a focus on improving product quality and cost-effectiveness[106]. Risk Factors - The company faces risks related to macroeconomic fluctuations, which could impact consumer demand and overall business performance[9]. - The company’s main raw materials, such as ES fibers and plastic granules, are subject to price volatility influenced by global oil prices, affecting production costs[13]. - The company’s export revenue is increasingly significant, making it vulnerable to exchange rate fluctuations, particularly between the US dollar and the Chinese yuan[12]. - The company is exposed to macroeconomic fluctuations that may impact consumer demand[102]. - The company is at risk of losing major clients if it fails to meet their evolving requirements[101]. Financial Management - The company has established a comprehensive business supervision system and internal controls for its overseas assets, which include investments in Egypt, the United States, and India[64]. - The company has a total of RMB 63,186,357.66 in unutilized raised funds as of the end of the reporting period[74]. - The company has committed to an investment project with a total investment amount of 43,403.1 million, achieving a progress rate of 90.71%[77]. - The company has engaged in foreign exchange forward contracts with various banks, with the highest investment amount recorded at 144.02 million yuan[92]. - The company aims to mitigate risks associated with foreign exchange fluctuations through hedging strategies, focusing on profit locking and avoiding speculative trading[93]. Shareholder Information - The company announced a cash dividend of CNY 6.5 per 10 shares, totaling CNY 98,650,500, and a capital increase of 5 shares for every 10 shares held, resulting in a total share capital increase of CNY 75,885,000 shares[155]. - The total number of shares after the capital increase was 227,655,000 shares, with 40.71% being limited sale shares and 59.29% being unrestricted sale shares[155]. - Major shareholder Xie Jihua holds 26.58% of the shares, with 18,000,000 shares pledged[158]. - The company implemented a 10-for-5 stock split and a cash dividend of 6.5 RMB per 10 shares in June 2021[161]. - The top ten shareholders include Xie Jihua, Xie Jiquan, and Lin Binbin, who are all considered actual controllers and acting in concert[159].

Financial Performance - The company's revenue for Q1 2021 was CNY 296,583,656.56, representing an increase of 8.06% compared to CNY 274,456,358.63 in the same period last year[10]. - Net profit attributable to shareholders decreased by 84.03% to CNY 6,212,367.40 from CNY 38,893,562.98 year-on-year[10]. - Basic and diluted earnings per share dropped by 84.01% to CNY 0.041 from CNY 0.2564 in the same period last year[10]. - The total profit decreased by 79.90% to CNY 9,657,486.62, attributed to the normalization of meltblown fabric prices and high export shipping costs[19]. - Total comprehensive income for Q1 2021 was CNY 9,580,888.27, down from CNY 42,321,498.89 in the previous year[50]. - Net profit for Q1 2021 was CNY 7,842,128.74, down from CNY 40,287,857.04 in the same period last year, indicating a decline of approximately 80.5%[49]. Cash Flow - The net cash flow from operating activities fell by 73.03% to CNY 41,257,404.74, down from CNY 152,967,731.97 in the previous year[10]. - Cash flow from operating activities showed a net outflow of CNY 41,257,404.74, a decrease of 73.03% compared to the previous year, due to reduced prepayments[21]. - Cash received from investment activities increased by 241.44% to CNY 363,424,304.09, mainly from matured investment products[21]. - Operating cash inflow totaled ¥328,680,381.59, down from ¥430,036,187.40 in the previous period, representing a decrease of approximately 23.6%[57]. - The company reported a net increase in cash and cash equivalents of ¥79,892,877.41, down from ¥100,551,770.24 in the previous period[58]. Assets and Liabilities - Total assets increased by 1.38% to CNY 2,000,624,097.20 compared to CNY 1,973,354,374.96 at the end of the previous year[10]. - Total liabilities amounted to CNY 882,765,488.35, compared to CNY 866,345,216.09 in the previous period[41]. - Current liabilities totaled CNY 622,641,623.52, a decrease from CNY 635,694,105.28[41]. - Non-current liabilities increased to CNY 260,123,864.83 from CNY 230,651,110.81[41]. - The company's total non-current assets were CNY 916,994,489.12, up from CNY 883,373,730.10[42]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 15,963[14]. - Major shareholders include Xie Jihua with a 26.58% stake and Xie Jiquan with a 13.29% stake[14]. - The total equity attributable to shareholders was CNY 1,093,590,612.70, showing a slight decrease of CNY 264,280.64 from the previous period[65]. Operational Changes and Strategies - The company is optimizing its global layout and actively expanding into markets in the Americas, Europe, Africa, and the Middle East[24]. - The company has completed the relocation of its production facilities, which had previously impacted operational efficiency and incurred additional costs[22]. - The company is adjusting its marketing and production operations to better meet the "small batch, multiple varieties" demand from clients[25]. - The company is focusing on developing and servicing small and medium-sized domestic clients to adapt to market fragmentation trends[25]. - The company plans to raise up to 400 million CNY through a targeted stock issuance to support its business operations[26]. Research and Development - Research and development expenses increased by 59.82% to CNY 9,440,545.56, reflecting greater investment in R&D projects during the first quarter[19]. - The company has increased R&D investment in existing product processes and performance, with new products like cotton non-woven fabric and spunbond non-woven fabric in development[25]. Risks and Challenges - The company is facing risks from macroeconomic fluctuations, intensified industry competition, and raw material price volatility, and plans to hedge these risks through various strategies[25]. - The company is currently involved in arbitration regarding delays in project completion by the contractor, which may impact future project timelines and financial outcomes[30].

Financial Performance - Revenue for Q1 2021 was CNY 296,583,656.56, an increase of 8.06% compared to CNY 274,456,358.63 in the same period last year[10] - Net profit attributable to shareholders decreased by 84.03% to CNY 6,212,367.40 from CNY 38,893,562.98 year-on-year[10] - Basic and diluted earnings per share fell by 84.01% to CNY 0.041 from CNY 0.2564 in the same period last year[10] - The total profit for the period was CNY 9,657,486.62, a decrease of 79.90% compared to the previous year, influenced by high shipping costs and normalization of meltblown fabric prices[19] - The net profit for Q1 2021 was CNY 7.84 million, a decrease of 80.5% from CNY 40.29 million in Q1 2020[49] - The total comprehensive income for Q1 2021 was CNY 9.58 million, compared to CNY 42.32 million in Q1 2020, reflecting a decline of 77.4%[50] Cash Flow - Net cash flow from operating activities dropped by 72.90% to CNY 41,458,352.30 compared to CNY 152,967,731.97 in the previous year[10] - Cash flow from operating activities showed a significant decline of 72.90%, totaling CNY 41,458,352.30, due to reduced prepayments compared to the previous year[21] - Total cash inflow from investment activities was CNY 363,424,304.09, significantly up from CNY 106,439,137.23 in the previous period[57] - The net cash flow from investment activities was CNY 16,105,525.92, recovering from a negative CNY 83,339,573.25 in the previous period[57] - The net cash flow from financing activities was CNY 21,756,231.00, down from CNY 30,929,056.20 in the previous period[58] Assets and Liabilities - Total assets increased by 1.38% to CNY 2,000,624,097.20 from CNY 1,973,354,374.96 at the end of the previous year[10] - Total liabilities increased to CNY 882,765,488.35 from CNY 866,345,216.09, indicating a rise of about 1.5%[41] - Current liabilities totaled CNY 622,641,623.52, a decrease from CNY 635,694,105.28, showing a reduction of approximately 2.3%[41] - Non-current liabilities rose to CNY 260,123,864.83 from CNY 230,651,110.81, marking an increase of around 12.7%[41] - The company's total current assets decreased slightly to RMB 1,083,629,608.08 from RMB 1,089,980,644.86 as of December 31, 2020, indicating a decline of about 0.6%[39] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 15,963[14] - Major shareholder Xie Jihua holds 26.58% of shares, with 30,259,537 shares pledged[14] - Net assets attributable to shareholders rose by 0.84% to CNY 1,102,810,301.34 compared to CNY 1,093,590,612.70 at the end of last year[10] Research and Development - Research and development expenses increased by 68.29% to CNY 9,940,545.56, reflecting greater investment in R&D projects during the quarter[19] - The company is enhancing product performance and accelerating new product development, including pure cotton non-woven fabric and spunbond non-woven fabric[25] Market Strategy - The company is optimizing its global layout and actively expanding into markets in the Americas, Europe, Africa, and the Middle East[24] - The company has implemented a pricing adjustment mechanism with major clients to mitigate the impact of fluctuating production costs[23] - The company is increasing efforts to develop and serve small and medium-sized domestic clients to adapt to market fragmentation trends[25] - The company is adjusting its marketing and production operations to better meet the needs of small batch and diverse product demands[25] Risks and Challenges - The company is facing risks from macroeconomic fluctuations, intensified industry competition, and raw material price volatility, and plans to hedge these risks through various strategies[25] Fundraising and Investments - The company is expediting refinancing efforts to ensure sufficient operational funding, with a planned fundraising of up to 400 million CNY[26] - The total amount of raised funds is 434.03 million CNY, with 39.04 million CNY already invested, representing 89.96% of the total[29] - The company has utilized RMB 40,418,153.83 of raised funds to replace pre-invested self-raised funds for its fundraising investment projects, with independent verification conducted by PwC[31] Operational Changes - The company has completed the relocation of its production facilities, which had previously affected operational efficiency and incurred additional costs[22] - The company is advancing operational preparations for subsidiaries in Singapore, Hungary, and Egypt[25] - The company has completed the construction of its non-woven fabric project, which has passed fire safety acceptance[29] Other Information - The company has not reported any violations regarding external guarantees during the reporting period[33] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[34] - The arbitration regarding the construction project is still ongoing, with the company awaiting the final results to proceed with project settlement[30]

Financial Performance - The company's operating revenue for 2020 was CNY 1,585,910,182.99, representing a 52.77% increase compared to CNY 1,038,112,515.42 in 2019[17]. - The net profit attributable to shareholders for 2020 reached CNY 299,505,974.40, a significant increase of 263.87% from CNY 82,310,742.42 in the previous year[17]. - The net cash flow from operating activities was CNY 331,536,650.49, up 346.68% from CNY 74,223,087.07 in 2019[17]. - The basic earnings per share for 2020 was CNY 1.99, an increase of 268.52% compared to CNY 0.54 in 2019[17]. - The total assets of the company at the end of 2020 were CNY 1,973,354,374.96, reflecting a 29.03% increase from CNY 1,529,356,989.92 at the end of 2019[17]. - The company's net assets attributable to shareholders increased by 30.11% to CNY 1,093,590,612.70 from CNY 840,521,208.91 in 2019[17]. - The company reported a total of ¥37.43 million in non-recurring gains for the year, primarily from government subsidies and fair value changes of financial assets[22]. - The company achieved operating revenue of ¥1,585,910,182.99 in 2020, a year-on-year increase of 52.77%[52]. - Net profit attributable to shareholders reached ¥299,505,974.40, up 263.87% compared to the previous year[52]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the year, representing a growth of 20% compared to the previous year[132]. Market Expansion and Product Development - The company developed a new product, melt-blown non-woven fabric, to meet the demand for mask production during the COVID-19 pandemic, diversifying its business[26]. - The company plans to leverage its supply chain to accelerate the development of new products in the health protection industry, including spunbond hot air non-woven fabric and wipes[58]. - The company is focusing on product innovation and quality improvement to capture new market opportunities and enhance customer satisfaction[31]. - The company plans to continue developing cotton water-jet non-woven fabric and other products to expand its product line into high-end hygiene and medical care products[66]. - The company aims to become a global leader in innovative surface materials for hygiene products, supported by a newly established overseas holding structure in Singapore[48]. - The company is investing 100 million RMB in R&D to improve product quality and reduce production costs by 15%[132]. - New product development includes the introduction of three innovative materials expected to generate an additional 300 million RMB in revenue[132]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[133]. - The company is exploring potential mergers and acquisitions to enhance its product portfolio and market reach[162]. Operational Efficiency and Management - The company has optimized internal management and improved operational efficiency, effectively converting revenue growth into profit[30]. - The company has achieved full automation in its production processes, improving efficiency and product quality stability, particularly in the core processes of perforation and winding[44]. - The company reported a significant reduction in operational costs by 5% through improved supply chain management[180]. - The company is committed to maintaining a low-risk investment strategy while exploring new financial instruments[169]. - The company has established a robust internal control system and governance structure to protect shareholder and creditor rights[194]. Financial Strategy and Investments - The company is focusing on expanding its financial asset portfolio, including government bonds and corporate bonds[165]. - The company has established agreements for short-term financing with banks, achieving an average return of 4.56%[169]. - The company is actively involved in the issuance of corporate bonds and other debt instruments to enhance liquidity[168]. - The company has a diversified investment strategy that includes short-term financial instruments and trust products to enhance liquidity and returns[188]. - The company has reported a consistent collection of interest income, with amounts such as 14.52 million and 12.97 million from various agreements[188]. Risk Management and Challenges - The company faces risks from intensified industry competition, particularly in the absorbent hygiene products sector, which is becoming increasingly fragmented[118]. - The company is exposed to macroeconomic fluctuations that may lead to short-term volatility in consumer demand due to the slowing economic growth rate[119]. - The company’s international operations are subject to exchange rate fluctuations, particularly with USD/RMB rates affecting revenue and profit margins[120]. - The company’s main raw materials are influenced by global oil prices, and significant price changes could impact production costs and sales strategies[120]. Shareholder and Dividend Policies - The company plans to distribute a cash dividend of CNY 6.5 per 10 shares, with a total base of 151,770,000 shares[6]. - The company declared a cash dividend of 6.5 CNY per 10 shares, totaling 98,650,500 CNY for the year 2020, which represents 32.94% of the net profit attributable to ordinary shareholders[127][129]. - The total distributable profit for 2020 was 431,610,277.79 CNY, with the cash dividend representing 100% of the profit distribution[127]. - The company has committed to maintaining a minimum cash dividend ratio of 20% during its growth phase, despite significant capital expenditures[127]. Sustainability and Corporate Responsibility - The company is committed to sustainability initiatives, aiming for a 50% reduction in carbon emissions by 2025[134]. - The company is committed to environmental protection and adheres to national policies on green development and resource conservation[195]. - The company emphasizes employee rights protection, providing comprehensive insurance and a supportive work environment[195].

厦门延江新材料股份有限公司 2020 年第三季度报告全文 厦门延江新材料股份有限公司 2020 年第三季度报告 2020-086 2020 年 10 月 1 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 厦门延江新材料股份有限公司 2020 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人谢继华、主管会计工作负责人黄腾及会计机构负责人(会计主管 人员)康忠闻声明：保证季度报告中财务报表的真实、准确、完整。 2 厦门延江新材料股份有限公司 2020 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 | | 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） | 1,949,710,808.56 | 1,529,356,989.92 | | 27.49% | | 归属于上市公司股东的净资产 | ...

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 948,681,819.73, representing a 97.20% increase compared to CNY 481,072,740.33 in the same period last year[18]. - The net profit attributable to shareholders of the listed company reached CNY 304,348,525.03, a significant increase of 586.47% from CNY 44,335,066.01 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was CNY 289,588,617.32, up 774.90% from CNY 33,099,573.42 year-on-year[18]. - The net cash flow from operating activities was CNY 336,573,382.55, an increase of 625.76% compared to CNY 46,375,601.20 in the same period last year[18]. - The basic earnings per share were CNY 2.01, reflecting a 570.00% increase from CNY 0.30 in the previous year[18]. - The total assets at the end of the reporting period were CNY 2,015,617,094.30, a 31.80% increase from CNY 1,529,356,989.92 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company were CNY 1,103,002,154.64, up 31.23% from CNY 840,521,208.91 at the end of the previous year[18]. - The weighted average return on equity was 30.88%, an increase of 25.28% compared to 5.60% in the previous year[18]. Market Expansion and Product Development - The company has established overseas production bases in Egypt, the USA, and India, which have helped stabilize overseas orders and reduce logistics costs, leading to significant performance improvements[28]. - The USA subsidiary, Yanjan USA LLC, achieved its highest half-year profit since establishment, while the Egypt subsidiary also set a new half-year performance record[29]. - The company successfully developed melt-blown non-woven fabric for mask production in response to the COVID-19 pandemic, starting sales in mid-February 2020 and expanding production capacity by March-April[30]. - The company has focused on enhancing internal management and operational efficiency, resulting in effective cost control and profit conversion from revenue growth[29]. - The company has maintained strong partnerships with well-known brands, positioning itself as a key supplier in the high-end product sector of disposable hygiene materials[25]. - The company emphasizes a direct procurement model to minimize material waste and ensure quality, supported by a rigorous supplier evaluation system[26]. - The company has implemented a strict production quality control system to ensure compliance with operational standards throughout the manufacturing process[27]. - The company is committed to continuous R&D investment to develop new products that meet market demands, establishing a solid foundation for future business expansion[30]. Financial Management and Investments - The company reported a total of ¥43,403.13 million in raised funds, with ¥1,773.01 million invested during the reporting period and a cumulative investment of ¥37,609.72 million[85]. - As of June 30, 2020, the company had a remaining balance of ¥79,346,926.43 in raised funds, with ¥60,180,098.63 in cash management products[87]. - The company has a total of 2,000,000 CNY in another principal-protected floating income product with an annualized return of 3.35%[95]. - The company has established a financial derivatives trading management system to regulate trading behavior and control associated risks[122]. - The company aims to strengthen its research and analysis of exchange rates and interest rates to better navigate market fluctuations[122]. Risk Management and Compliance - The company emphasizes the importance of risk awareness regarding its future strategies and potential risks[5]. - The company has established a robust internal control and risk prevention mechanism for its overseas investments, including subsidiaries in Egypt, the United States, and India[37]. - The company has implemented risk management measures to mitigate foreign exchange risks, including locking in profits and avoiding speculative trading[122]. - The company has established long-term relationships with creditworthy financial institutions to minimize counterparty risks in derivative transactions[122]. Strategic Goals and Future Outlook - The company plans to continue expanding its market presence while optimizing governance and exploring new business opportunities[68]. - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share by the end of 2021[101]. - Future guidance suggests a cautious but optimistic outlook for revenue growth in the upcoming quarters, driven by new product launches and market demand[104]. - The company has set a performance guidance of 2.5 billion CNY in revenue for the full year 2020, reflecting a growth target of 20%[99]. Shareholder and Corporate Governance - The company granted 110,000 reserved restricted stocks to 13 incentive objects on May 26, 2020, under the first phase of the restricted stock incentive plan[158]. - The total number of ordinary shareholders at the end of the reporting period was 13,326[184]. - The company has not undergone any changes in controlling shareholders or actual controllers during the reporting period[188]. - The company did not conduct any repurchase transactions among the top ten shareholders during the reporting period[187].

Financial Performance - Total operating revenue for Q1 2020 was CNY 274,456,358.63, an increase of 17.89% compared to CNY 232,797,564.37 in the same period last year[7]. - Net profit attributable to shareholders was CNY 38,893,562.98, representing a significant increase of 344.81% from CNY 8,743,886.53 year-on-year[7]. - Net profit attributable to shareholders after deducting non-recurring gains and losses reached CNY 36,498,667.09, up 755.80% from CNY 4,264,860.18 in the previous year[7]. - Basic earnings per share for Q1 2020 was CNY 0.2564, up 339.79% from CNY 0.0583 in the previous year[7]. - The company reported a significant increase in cash and cash equivalents, rising by 35.01% to ¥385,830,454.78 due to substantial operating profit growth and prepayments for meltblown non-woven fabric products[15]. - The company's operating profit surged by 516.41% to ¥46,901,755.19, driven by strong demand for meltblown fabric and growth in existing core business[17]. - The company achieved a 68.54% increase in cash received from sales, totaling ¥413,415,848.98, primarily due to increased sales revenue and prepayment collection for meltblown non-woven fabric[18]. - The company reported a comprehensive income total of CNY 42,321,498.89 for Q1 2020, compared to CNY 7,314,312.71 in the previous period[45]. - The net profit for Q1 2020 reached CNY 40,287,857.04, significantly up from CNY 7,196,777.27 in the same period last year, representing a growth of approximately 460%[44]. Cash Flow and Investments - Net cash flow from operating activities was CNY 152,967,731.97, a remarkable increase of 434.57% compared to CNY 28,614,946.19 in the same period last year[7]. - Cash flow from operating activities generated CNY 152,967,731.97, a substantial increase from CNY 28,614,946.19 in the previous year, marking an increase of approximately 434.5%[52]. - Investment activities resulted in a net cash outflow of CNY -83,339,573.25, an improvement from CNY -121,923,999.28 in the same period last year[52]. - The net cash flow from investment activities was -75,031,365.74 CNY, a decrease from -118,338,702.65 CNY in the previous year[56]. - Cash inflow from financing activities totaled 138,238,189.60 CNY, compared to 116,724,535.34 CNY in the same period last year, representing a 18.5% increase[56]. - The cash inflow from investment activities was 107,436,848.19 CNY, compared to 82,848,208.22 CNY in the previous year, indicating a 29.7% increase[56]. - Cash outflow for investment activities was 182,468,213.93 CNY, down from 201,186,910.87 CNY year-over-year, reflecting a 9.4% decrease[56]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,676,159,532.30, an increase of 9.60% from CNY 1,529,356,989.92 at the end of the previous year[7]. - Total liabilities increased to CNY 735,527,029.94 from CNY 634,129,521.99 year-over-year[43]. - Total liabilities increased to ¥784,078,381.50 from ¥680,922,036.36, reflecting a rise of approximately 15.2%[36]. - The company's total assets reached ¥1,676,159,532.30, compared to ¥1,529,356,989.92, representing a growth of about 9.6%[37]. - Current assets increased to ¥897,610,986.68 as of March 31, 2020, up from ¥789,216,050.70 on December 31, 2019, representing a growth of approximately 13.7%[34]. - Non-current assets totaled ¥778,548,545.62, up from ¥740,140,939.22, indicating an increase of approximately 5.2%[35]. - Total equity rose to CNY 872,026,321.81, up from CNY 840,200,681.56 in the previous period[43]. - The company's equity attributable to shareholders rose to ¥882,626,310.53 from ¥840,521,208.91, an increase of about 5%[37]. Shareholder Information - The company had a total of 14,611 common shareholders at the end of the reporting period[11]. - The company received government subsidies amounting to CNY 1,826,410.76 during the reporting period[8]. Market and Operational Insights - The company successfully developed and began selling meltblown non-woven fabric in mid-February 2020, addressing the surge in demand for mask production materials[20]. - The company is focusing on enhancing domestic market services, particularly for small and medium-sized clients, while understanding the challenges faced by these clients due to the pandemic[23]. - The company anticipates potential risks related to the melt-blown non-woven fabric market, including demand uncertainty and possible price declines as production capacity increases[23]. - The company is actively optimizing global governance and expanding its global market presence, adapting strategies to local conditions for different subsidiaries[22]. - The company plans to accelerate the construction of fundraising projects and optimize production capacity despite delays caused by the pandemic[21]. - The project for producing 22,000 tons of perforated non-woven fabric has passed fire acceptance and is expected to be operational in the second quarter of 2020[27]. Other Financial Metrics - Research and development expenses for Q1 2020 were CNY 5,906,867.72, down from CNY 7,747,321.67 in the previous period[43]. - The company’s long-term borrowings increased to CNY 132,750,000.00 from CNY 66,400,000.00 year-over-year[43]. - The company’s financial expenses decreased by 77.00% to ¥1,716,635.90, primarily due to foreign exchange gains from the appreciation of the US dollar[16]. - The company reported a 365.10% increase in interest income, reaching ¥1,480,198.73, due to a rise in cash and cash equivalents[16]. - The company paid CNY 42,653,574.15 in employee compensation, which increased from CNY 33,223,274.02 in Q1 2019, reflecting a growth of approximately 28.5%[52]. Compliance and Standards - The company did not apply new revenue and leasing standards for the first quarter of 2020[57]. - The first quarter report was not audited[58].

Financial Performance - The company's operating revenue for 2019 was CNY 1,038,112,515.42, representing a 35.48% increase compared to CNY 766,272,161.60 in 2018[17]. - The net profit attributable to shareholders for 2019 was CNY 82,310,742.42, a significant increase of 69.32% from CNY 48,611,398.15 in the previous year[17]. - The net profit after deducting non-recurring gains and losses was CNY 62,626,913.56, reflecting an 86.41% increase from CNY 33,596,668.65 in 2018[17]. - The net cash flow from operating activities reached CNY 74,223,087.07, an increase of 88.06% compared to CNY 39,466,823.03 in the previous year[17]. - The total assets of the company at the end of 2019 were CNY 1,529,356,989.92, which is a 24.25% increase from CNY 1,230,913,201.50 at the end of 2018[17]. - The net assets attributable to shareholders increased by 8.69% to CNY 840,521,208.91 from CNY 773,303,647.90 in 2018[17]. - The basic earnings per share for 2019 were CNY 0.54, up 68.75% from CNY 0.32 in the previous year[17]. - The weighted average return on equity was 10.25%, an increase of 3.81% from 6.44% in 2018[17]. - The company achieved a revenue of 1,038.11 million CNY in 2019, representing a growth of 35.48% year-over-year, with sales exceeding 1 billion CNY for the first time[48]. - The operating profit reached 82.31 million CNY, an increase of 64.68% compared to the previous year, while the total profit amounted to 97.88 million CNY, up by 95.79%[48]. Market and Product Development - The company has established overseas production bases in Egypt, the USA, and India, enhancing its global supply chain and reducing logistics costs[29]. - The main products include 3D perforated non-woven fabric and PE perforated film, primarily used in high-end disposable hygiene products[26]. - The company has maintained strong partnerships with well-known brands, positioning itself as a key supplier in the high-end product sector[26]. - The company has implemented a direct procurement model to optimize material purchasing and reduce inventory risks[27]. - The compound annual growth rate (CAGR) for the domestic female hygiene products market from 2013 to 2018 was 12.9%[31]. - The market size of the infant diaper segment grew by only 1.2% in 2018, with a year-on-year decrease of 9% due to intense competition and declining birth rates[32]. - The company has successfully reversed the sales decline of its perforated non-woven fabric in 2018, achieving a 6.3% growth in 2019 despite a challenging market environment[50]. - The PE perforated film has seen substantial growth, with sales increasing from 193.54 million CNY in 2017 to 443.65 million CNY in 2019, driven by demand in the North American market[51][52]. - The company plans to launch cotton water-jet non-woven fabric and wiping non-woven fabric in 2020, expanding its product line into high-end hygiene and medical applications[60]. Investment and Financial Management - The company has established a robust business supervision and internal control system for its overseas investments[37]. - The company’s investment in Egypt amounted to RMB 29,509,244.54, generating a profit of RMB 15,674,550.18[35]. - The company has completed 82.57% of its fundraising project aimed at producing 22,000 tons of perforated non-woven fabric, with completion expected in 2020[57]. - The company has implemented a stock incentive plan to align core employees' interests with the company's long-term development[61]. - The company has entrusted financial management with a total amount of 84,900,000 RMB, with a remaining balance of 5,150,000 RMB[152]. - The company has invested 56,600,000 RMB in bank wealth management products sourced from raised funds, and 28,300,000 RMB from its own funds[152]. - The company has consistently recovered all returns from its investments, indicating strong financial management and investment strategy[45]. - The company reported a recovery rate of 100% for various financial agreements, indicating strong liquidity management[161]. Shareholder and Dividend Policies - The company plans to distribute a cash dividend of CNY 3 per 10 shares to all shareholders, based on a total of 151,675,000 shares[6]. - The company’s cash dividend policy emphasizes a minimum distribution of 20% of distributable profits, ensuring a stable return to investors[114]. - In 2019, the company distributed cash dividends totaling 45,502,500.00 CNY, which accounted for 55.28% of the net profit attributable to ordinary shareholders[120]. - The company’s profit distribution plan for 2018 included a cash dividend of 1.5 yuan per 10 shares, reflecting a commitment to shareholder returns[115]. - The company has maintained a consistent dividend payout ratio over the past three years, reflecting a commitment to returning value to shareholders[120]. Risk Management and Compliance - The company has identified risks related to intensified industry competition due to the influx of various capital and brands into the disposable hygiene products market[106]. - The company has not reported any non-standard audit reports for the reporting period[130]. - The company has not faced any issues related to false records or misleading statements in its public disclosures[126]. - The company has measures in place to mitigate the dilution of immediate returns from the public offering of shares[127]. - The company has committed to reducing or avoiding related party transactions, ensuring fairness and compliance with regulations[127]. Corporate Governance and Social Responsibility - The company is committed to fulfilling its social responsibilities while maximizing shareholder value[164]. - The company has adhered to labor laws and regulations, ensuring the protection of employee rights and benefits, including various insurance contributions[165]. - The company has actively engaged in community employment by publicly recruiting employees based on its needs[166]. - The company emphasizes customer satisfaction and maintains long-term partnerships with clients through effective communication and service[165]. - The governance structure has been optimized to enhance the company's operational efficiency and compliance with regulations[164].