Financial Performance - Operating revenue for the period reached CNY 173,304,703.72, a growth of 24.82% year-on-year[7] - Net profit attributable to shareholders was CNY 20,595,250.10, reflecting a 14.19% increase compared to the same period last year[7] - The net profit after deducting non-recurring gains and losses was CNY 19,477,649.98, up by 20.41% year-on-year[7] - The basic earnings per share for the period was CNY 0.09, an increase of 12.50% year-on-year[7] - The total profit for the period was CNY 21,814,463.28, an increase of 22.1% compared to CNY 17,850,125.29 in Q3 2017[40] - Net profit for the current period was ¥51,007,394.54, up 30.5% from ¥39,102,763.81 in the previous period[48] - Basic and diluted earnings per share increased to ¥0.23 from ¥0.21, reflecting a 9.5% growth[48] Assets and Liabilities - Total assets increased by 28.02% to CNY 1,127,333,745.01 compared to the end of the previous year[7] - Current liabilities surged to CNY 474.88 million, compared to CNY 189.68 million at the start of the year, reflecting a substantial increase in short-term borrowings[30] - The company's total assets grew to CNY 1,127.33 million, a significant increase from CNY 880.61 million at the beginning of the year[30] - The total equity attributable to shareholders increased to CNY 599.58 million, compared to CNY 564.99 million at the beginning of the year[30] Cash Flow - The company reported a net cash flow from operating activities of CNY -17,300,272.63, a decline of 168.95%[7] - Cash flow from operating activities showed a net outflow of ¥17,300,272.63, compared to a net inflow of ¥25,090,044.84 in the previous period[51] - Cash and cash equivalents increased by 61.70% to RMB 239,394,894.03 compared to the end of the previous year, primarily due to the increase in short-term bank loans for financing[16] - Cash and cash equivalents at the end of the period totaled ¥231,552,996.63, an increase from ¥136,683,962.05 at the end of the previous period[52] - The net cash flow from financing activities increased to ¥220,532,225.09 from ¥130,788,466.38 in the previous period, indicating stronger financing capabilities[52] Expenses - Total operating costs amounted to CNY 152.59 million, up 24.4% from CNY 122.67 million year-on-year[35] - Research and development expenses increased by 45.75% to ¥32,090,536.36, reflecting the company's intensified focus on technology development[18] - Financial expenses dropped significantly by 94.14% to ¥582,942.97, primarily due to a substantial decrease in exchange loss compared to the previous year[18] - The company reported a decrease in financial expenses to ¥254,894.67 from ¥10,041,260.48 in the previous period, indicating improved financial management[46] Inventory and Prepayments - Inventory increased by 45.10% to RMB 212,779,983.04, driven by market expansion and increased stock to meet customer orders[16] - Prepayments rose significantly by 344.45% to RMB 20,119,084.82, mainly due to increased advance payments for materials[16] - The total inventory rose to ¥212,779,983.04, up from ¥146,645,648.72, indicating a strategic increase in stock levels to meet customer demand[28] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 36,390[11] - The largest shareholder, Yao Lijun, holds 28.27% of the shares, with 61,832,716 shares pledged[11] Government Subsidies and Tax - Government subsidies recognized in the current period amounted to CNY 10,350,452.23[8] - Tax and additional fees decreased by 36.19% to ¥1,897,667.24 compared to the same period last year, mainly due to reductions in urban construction tax and education fees[18] - The company received tax refunds amounting to ¥24,552,936.28, a significant increase of 3377.82% compared to the previous year, primarily from increased export tax rebates[19] Comprehensive Income - The total comprehensive income for the period was CNY 20,858,947.28, compared to CNY 18,182,376.55 in Q3 2017, reflecting a growth of 14.8%[38] - Total comprehensive income attributable to the parent company was ¥46,188,730.24, compared to ¥38,432,977.28 in the previous period, marking a 20.5% increase[45]

Financial Performance - The company reported a revenue of 1.5 billion RMB for the first half of 2018, representing a year-on-year increase of 20%[3]. - Total revenue for the reporting period reached ¥295,722,100.38, an increase of 18.11% compared to ¥250,377,670.30 in the same period last year[21]. - Net profit attributable to shareholders was ¥24,593,736.38, reflecting a growth of 19.48% from ¥20,584,008.10 year-on-year[21]. - The company reported a significant increase in revenue for the first half of 2018, achieving a total of 1.2 billion RMB, representing a year-on-year growth of 25%[123]. - The company achieved a revenue of RMB 295.72 million in the first half of 2018, representing an 18.11% increase compared to RMB 250.38 million in the same period last year[81]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion CNY for the first half of 2018, representing a year-on-year growth of 20%[137]. - The net profit after deducting non-recurring gains and losses decreased by 2.13% to 18.55 million yuan[65][67]. Profitability and Margins - The gross profit margin improved to 35%, up from 30% in the same period last year[3]. - The gross margin for the first half of 2018 improved to 35%, up from 30% in the same period last year, reflecting better cost management[124]. - The weighted average return on equity decreased to 4.27% from 5.07% year-on-year, a drop of 0.80%[21]. - The company faces risks related to raw material price fluctuations and international trade policies[3]. Research and Development - The company plans to invest 200 million RMB in R&D for new product development in the semiconductor materials sector[3]. - The company's research and development expenses for the first half of 2018 amounted to RMB 19.43 million, accounting for 6.57% of total revenue, which is a 42.93% increase from the previous year[77]. - The company is investing heavily in R&D, with a budget increase of 30% to enhance product innovation and technology development[126]. - The company emphasizes continuous R&D investment to mitigate risks associated with new product development and maintain core technology[107]. Market Expansion and Strategy - The company has expanded its market presence in Southeast Asia, achieving a 25% growth in sales in that region[3]. - The company is actively expanding into new application areas such as LCDs and solar cells, leveraging its technology and customer resources from the semiconductor market[60]. - The company plans to increase investment in technology development and market expansion to enhance market share and operational performance[110]. - The company is considering strategic acquisitions to bolster its market position, with potential targets identified in the electronic materials sector[126]. Customer and Client Relationships - User data indicates a 15% increase in the number of active clients compared to the previous year, reaching 1,200 clients[3]. - The company has established stable supply relationships with major clients such as SMIC, TSMC, and Toshiba, which supports steady growth in operating income and performance[59]. - The company has established a professional technical service team to quickly respond to customer needs and issues, enhancing customer service levels[57]. Financial Position and Cash Flow - The net cash flow from operating activities was negative at ¥-13,195,762.87, a decline of 189.66% compared to ¥14,717,882.87 in the previous year[21]. - The cash balance at the end of the reporting period was 255.67 million yuan, an increase of 72.69% compared to the end of the previous year, mainly due to an increase in short-term borrowings during the reporting period[47]. - Total liabilities reached CNY 530,802,661.79, compared to CNY 312,663,212.44 at the beginning of the period, marking an increase of around 69.9%[191]. Shareholder and Stock Management - The company commits to holding a board meeting within three trading days to discuss the stock price stabilization plan if the conditions for repurchase are met[128]. - The company will disclose the repurchase plan and necessary approvals within three trading days after the board resolution is made[128]. - The company emphasizes that the repurchase decision requires approval from more than half of the board members and two-thirds of the voting rights at the shareholders' meeting[128]. - The company is committed to enhancing shareholder returns and reducing the risk of dilution from public offerings[132]. Risks and Challenges - The company faces exchange rate fluctuation risks, particularly with high foreign sales revenue primarily settled in USD and JPY, which could affect competitiveness and net profit[114][115]. - The semiconductor industry is characterized by cyclical development and market fluctuations, impacting the company's business performance[110]. - There is a risk that investment projects may not achieve expected returns due to market environment changes and challenges in customer development[112]. Corporate Governance and Compliance - The management emphasized the importance of compliance with regulatory standards to maintain investor confidence and protect shareholder interests[126]. - The company has not engaged in any significant related party transactions during the reporting period, ensuring transparency and independence in operations[146]. - The company has committed to environmental sustainability, ensuring compliance with all relevant regulations and not being classified as a major polluter[145].

Financial Performance - The company reported a total revenue of 218,760,000 RMB for the year 2017, with a cash dividend of 0.53 RMB per 10 shares distributed to shareholders[6]. - The company's operating revenue for 2017 was ¥550,025,687.03, representing a 24.21% increase compared to ¥442,808,748.02 in 2016[21]. - The net profit attributable to shareholders for 2017 was ¥64,034,567.92, up 16.55% from ¥54,940,766.33 in 2016[21]. - The net profit after deducting non-recurring gains and losses was ¥50,674,199.62, a 14.72% increase from ¥44,170,490.44 in 2016[21]. - The total assets at the end of 2017 reached ¥880,613,557.31, a 36.13% increase from ¥646,900,667.21 at the end of 2016[21]. - The net assets attributable to shareholders increased by 95.02% to ¥564,989,048.35 from ¥289,704,893.85 in 2016[21]. - The basic earnings per share remained at ¥0.33, consistent with the previous year[21]. - The cash flow from operating activities for 2017 was ¥39,622,302.08, a decrease of 35.46% compared to ¥61,387,701.24 in 2016[21]. - The company reported quarterly revenues of ¥160,809,175.68 in Q4 2017, the highest among the four quarters[23]. - The weighted average return on equity for 2017 was 14.98%, down from 20.96% in 2016[21]. - The company reported a net profit of ¥13,360,368.30 in 2017, an increase from ¥10,770,275.89 in 2016, representing a growth of approximately 24%[27]. Market Expansion and Strategy - The company plans to expand its market presence and enhance its product offerings, focusing on new technologies and materials in the semiconductor industry[6]. - The company aims to enhance its market development and customer service capabilities to increase revenue and net profit levels, striving to become an internationally recognized producer of high-purity metals and sputtering target materials[45]. - The company has established stable supply relationships with major clients such as TSMC and SMIC, enhancing its market position in the semiconductor industry[59]. - The company has become the largest domestic producer of high-purity sputtering targets for semiconductor chips, with plans to expand into LCD and solar cell applications[60]. - The company is set to launch its first overseas factory in Malaysia in 2018, aimed at increasing sales in the solar energy sector[68]. - The company plans to continue expanding both domestic and international markets, leveraging its strong brand and quality service to increase market share[71]. Research and Development - The company specializes in the research, production, and sales of high-purity sputtering targets, with key products including aluminum, titanium, tantalum, and tungsten-titanium targets[29]. - The company has invested in advanced testing and analysis equipment to ensure product quality and support ongoing research and development efforts[54]. - In 2017, the company invested CNY 32.49 million in R&D, accounting for 5.91% of its revenue, representing a 20.85% increase from 2016[73]. - The company has established a strong technical team with international standards, which is critical for transforming substantial capital investment into operational efficiency[49]. - The company emphasizes continuous technological innovation and has established a robust R&D system to maintain its competitive edge in the high-purity sputtering target material industry[50]. - The company is actively developing core technologies for integrated circuits, with products already in mass production at client sites, expected to significantly boost sales[97]. Financial Management and Investment - The company has made significant progress in its capital operation, ensuring funding for ongoing projects and enhancing its financial stability[79]. - The company successfully completed its IPO in June 2017, raising a total of CNY 253.76 million, with a net amount of CNY 212.12 million after expenses[78]. - The company has reported government subsidies of ¥17,461,979.62 in 2017, up from ¥13,984,412.06 in 2016, indicating a significant increase in support[27]. - The company has established a complete business process that includes grain orientation control, material welding, precision processing, product testing, and cleaning packaging[37]. - The company has a total of RMB 21,211.78 million commitment for investment projects, with significant progress in its fundraising initiatives[115]. Profit Distribution and Shareholder Relations - The company has a profit distribution policy that prioritizes cash dividends, aiming to distribute at least 20% of the available profits annually[141]. - The proposed cash dividend is RMB 0.53 per 10 shares (including tax), totaling RMB 11,594,280.00 (including tax) for the current year[151]. - The cash dividend represents 100% of the total profit distribution, adhering to the minimum requirement of 20% for companies in a growth phase with significant capital expenditure[151]. - The company will actively communicate with shareholders, especially minority shareholders, to gather opinions on profit distribution proposals[150]. - The company is committed to improving investor relations by increasing transparency and actively engaging with investors through various communication channels[80]. Risks and Challenges - The semiconductor industry is subject to cyclical fluctuations, which may impact the company's business development and performance[131]. - The company faces risks in new product development due to the high costs and long cycles associated with R&D, but has accumulated significant experience to mitigate these risks[128]. - The company is exposed to foreign exchange risks due to high foreign sales revenue, primarily in USD and JPY, which could affect its competitiveness and net profit[135]. - The company is expanding its investment scale, which may lead to increased depreciation costs and potential declines in profitability if market development is not successful[131]. Future Outlook - The company provided a future outlook projecting a revenue growth of 25% for the next fiscal year, driven by new product launches and market expansion[161]. - The company aims to launch three new products in the next quarter, which are anticipated to contribute an additional 200 million RMB in revenue[161]. - The company has set a performance guidance of 1.8 billion RMB in revenue for the upcoming fiscal year, indicating a strong growth trajectory[161]. - The company plans to stabilize its stock price if it falls below the audited net asset value per share for 20 consecutive trading days[164].

Financial Performance - Total revenue for Q1 2018 was ¥138,635,560.25, an increase of 19.97% compared to ¥115,555,450.57 in the same period last year[7] - Net profit attributable to shareholders was ¥13,112,777.74, representing a growth of 36.74% from ¥9,589,666.96 year-on-year[7] - The net profit for the reporting period increased, although the net profit after deducting non-recurring gains and losses decreased year-on-year[34] - The net profit attributable to shareholders for Q1 2018 was 13.11 million CNY, a year-on-year increase of 20.08% from 10.92 million CNY in the same period last year[35] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 8.74 million CNY, a decrease of 14.50% compared to 10.22 million CNY in the same period last year[35] - The company reported a gross profit of ¥9,503,329.10, with a gross margin of approximately 6.86%[55] - The comprehensive income totalled ¥12,900,965.62, compared to ¥9,393,583.17 in the previous year, indicating a growth of approximately 37.00%[57] Cash Flow and Liquidity - The net cash flow from operating activities was -¥6,785,228.91, showing a slight improvement of 2.05% compared to -¥6,926,977.04 in the previous year[7] - Cash and cash equivalents saw a net increase of ¥34,043,602.80, a substantial rise compared to the previous year[32] - Operating cash inflow for the current period reached ¥161,707,471.14, an increase of 19.5% compared to ¥135,277,247.32 in the previous period[63] - Cash inflow from financing activities was ¥123,692,777.97, compared to ¥116,069,418.58 in the previous period, leading to a net cash flow of ¥78,186,246.80[64] - The ending balance of cash and cash equivalents increased to ¥173,967,343.84 from ¥77,292,883.81 in the previous period[64] - The company reported a net cash flow from financing activities of ¥78,239,684.30, an increase from ¥37,833,459.75 in the previous period[67] Assets and Liabilities - Total assets at the end of the reporting period reached ¥971,381,493.43, reflecting a 10.31% increase from ¥880,613,557.31 at the end of the previous year[7] - Total current assets increased to CNY 506,068,016.33 from CNY 439,798,369.58, representing a growth of approximately 15.0%[47] - Total liabilities rose to CNY 390,530,182.94 from CNY 312,663,212.44, an increase of approximately 25.0%[49] - Total equity increased to CNY 580,851,310.49 from CNY 567,950,344.87, representing a growth of approximately 2.5%[50] Shareholder Information - As of the end of the reporting period, the total number of common shareholders was 34,901, with the top 10 shareholders holding significant stakes[25] - The largest shareholder, Yao Lijun, holds 28.27% of shares, amounting to 61,832,716 shares, with a portion pledged[25] - The second-largest shareholder, Shanghai Zhiding Boneng Investment Partnership, holds 8.46% of shares, totaling 18,507,072 shares, also pledged[25] - The company has a total of 10 major shareholders, with significant percentages of shares pledged, indicating potential liquidity risks[25] Market and Operational Risks - The company faces risks in new product development due to the high costs and long cycles associated with electronic sputtering target materials[9] - Market promotion risks exist for new products due to stringent certification requirements from chip manufacturers[10] - The semiconductor industry is subject to cyclical fluctuations, which may impact the company's business performance[11] - The company faces risks related to investment projects not achieving expected returns due to market environment changes and other factors[21] - Demand for LCD carbon fiber composite materials may decline if downstream LCD manufacturers slow down or halt expansion, potentially impacting the company's performance[22] - The company is exposed to exchange rate fluctuations, particularly with high foreign sales revenue in USD and JPY, which could affect competitiveness and net profit[23] Investment and R&D - Significant investments in fixed assets and R&D may lead to increased depreciation costs, impacting profitability if market development does not progress as planned[12] - The company plans to continue expanding its production capacity and investing in new R&D projects to drive future growth[33] - The company plans to establish a professional project team to ensure timely funding and effective implementation of investment projects[21] - The company has invested a total of 21,211.78 million CNY in fundraising projects, with 668.84 million CNY utilized in the current quarter[39] - The cumulative investment in fundraising projects reached 11,193.31 million CNY, representing a utilization rate of approximately 52.7%[39] Operational Efficiency - The company aims to minimize operational cost increases through efficient management practices[20] - Management expenses increased by 35.59% year-on-year, driven by rising technical development costs, employee salaries, and depreciation[30] - Financial expenses surged by 53.32% compared to the previous year, largely due to significant foreign exchange losses from currency fluctuations[30] - The company is on track to meet its 2018 operational goals, having effectively executed its annual business plan in Q1[36] - There are no significant risks or difficulties affecting the company's future operations as outlined in the report[36]

宁波江丰电子材料股份有限公司 2017 年第三季度报告全文 宁波江丰电子材料股份有限公司 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。 公司负责人姚力军、主管会计工作负责人于泳群及会计机构负责人(会计主 管人员)符利燕声明：保证季度报告中财务报表的真实、准确、完整。 2 宁波江丰电子材料股份有限公司 2017 年第三季度报告全文 2017-044 2017 年 10 月 1 宁波江丰电子材料股份有限公司 2017 年第三季度报告全文 对公司根据《公开发行证券的公司信息披露解释性公告第 1 号——非经常性损益》定义界定的非经常性损益项目，以及把《公 开发行证券的公司信息披露解释性公告第 1 号——非经常性损益》中列举的非经常性损益项目界定为经常性损益的项目，应 说明原因 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 | | ...

Financial Performance - Total revenue for the reporting period reached ¥250,377,670.30, an increase of 32.46% compared to ¥189,014,957.94 in the same period last year[19]. - Net profit attributable to shareholders was ¥20,584,008.10, reflecting a growth of 34.23% from ¥15,334,576.32 year-on-year[19]. - Net profit after deducting non-recurring gains and losses was ¥18,950,403.88, up 32.76% from ¥14,274,683.14 in the previous year[19]. - Basic earnings per share increased to ¥0.11, a rise of 22.22% compared to ¥0.09 in the same period last year[19]. - Total assets at the end of the reporting period were ¥893,577,979.86, representing a 38.13% increase from ¥646,900,667.21 at the end of the previous year[19]. - Net assets attributable to shareholders grew by 80.28% to ¥522,276,260.83 from ¥289,704,893.85 at the end of the previous year[19]. - The net cash flow from operating activities was ¥14,717,882.87, down 46.48% from ¥27,501,688.37 in the same period last year[19]. - The weighted average return on equity was 5.07%, a decrease of 1.26% from 6.33% in the previous year[19]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and projections[5]. - The report includes a detailed analysis of potential risks and countermeasures faced by the company[5]. - The company faces risks related to rapid product updates and the need for continuous development to meet customer demands in the semiconductor industry[91]. - The company faces market promotion risks for new products due to strict certification requirements from chip manufacturers, which may affect large-scale sales of new sputtering target materials for 28-14nm technology nodes[93]. - The semiconductor industry is characterized by cyclical technological development and market fluctuations, which may impact the company's business growth if the industry enters a downturn[94]. - Increased investment scale and R&D expenditures may lead to a decline in profitability due to rising depreciation costs and potential market development challenges[95]. - The company plans to enhance new market development efforts to mitigate risks associated with declining profitability and control operational cost increases[96]. Research and Development - The company specializes in the research, production, and sales of high-purity sputtering targets, including aluminum, titanium, tantalum, and tungsten-titanium targets, primarily used in semiconductor, flat panel display, and solar energy industries[26]. - The company has established a diversified product R&D system focusing on high-purity sputtering targets for semiconductor chips, LCDs, and solar cells[45]. - The company emphasizes continuous technological innovation and has increased R&D investment to maintain product innovation and technological leadership[45]. - Investment in R&D increased by 25% year-on-year, focusing on advanced electronic materials technology[106]. - The company is focusing on the production of tantalum and titanium targets for the 28-14nm technology nodes, with some products already in mass production at client sites[61]. - The company is developing high-purity aluminum and molybdenum materials to enhance product quality and market competitiveness[61]. Market Expansion - The company has become the largest domestic producer of high-purity sputtering targets for semiconductor chips, competing with multinational companies from the US and Japan[54]. - The company is actively expanding into new application areas such as LCD displays and solar cells, leveraging its existing technology and customer resources from the semiconductor market[54]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% market share by 2020[105]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2018[109]. - The company is exploring partnerships with technology firms to enhance its product offerings and innovation pipeline[109]. Corporate Governance - All board members attended the meeting to review the report, ensuring accountability for its content[4]. - The financial report is guaranteed to be true, accurate, and complete by the company's management[4]. - The company is committed to maintaining transparency and compliance with regulatory requirements[11]. - The company has established a commitment to fill the dilution of immediate returns caused by public offerings through various strategies[115]. - The company is committed to enhancing the management of raised funds, ensuring they are used legally and reasonably[115]. Shareholder Returns - The company plans to limit the total amount used for stock repurchases in a fiscal year to 50% of the audited net profit attributable to shareholders of the parent company from the previous year[112]. - The company has committed to distributing at least 20% of the annual distributable profits as cash dividends, provided it is profitable and has positive retained earnings[117]. - The company plans to adopt a combination of cash and stock dividends, with the possibility of increasing the distribution ratio based on business development and profitability[118]. - The company has established a profit distribution policy that emphasizes stability and continuity in investor returns, aligning with regulatory requirements[116]. Financial Position - The total share capital increased from 164.07 million shares to 218.76 million shares after the issuance of 54.69 million new shares[143]. - The company’s stock code is 300666, and it is traded under the name "江丰电子" on the ChiNext board[144]. - The total assets of Ningbo Jiangfeng Electronic Materials Co., Ltd. reached RMB 893,577,979.86 as of June 30, 2017, an increase from RMB 646,900,667.21 at the beginning of the period, representing a growth of approximately 38.1%[168]. - The company's current assets amounted to RMB 503,039,303.24, up from RMB 306,307,218.69, indicating a growth of about 64.3%[169]. - Cash and cash equivalents increased significantly to RMB 276,667,619.23 from RMB 85,721,538.10, reflecting a growth of approximately 223.5%[168]. Operational Efficiency - The company has implemented new strategies to enhance operational efficiency, aiming for a 5% reduction in production costs by optimizing supply chain management[120]. - The company will strengthen the assessment of management and improve the performance-linked compensation system[115]. - The company intends to strictly control expenses and enhance cost management to improve profit margins[115].