Financial Performance - The company's revenue for Q3 2021 was ¥359,210,236.67, a decrease of 3.32% compared to the same period last year[3]. - The net profit attributable to shareholders for Q3 2021 was ¥46,499,680.12, down 35.39% year-on-year[3]. - The basic earnings per share for Q3 2021 was ¥0.1660, a decline of 39.33% compared to the same period last year[3]. - Total operating revenue for Q3 2021 reached ¥948,277,961.83, an increase of 23.4% compared to ¥768,223,908.96 in Q3 2020[26]. - Net profit for Q3 2021 was ¥117,528,598.54, a decrease of 12.5% from ¥134,418,105.06 in Q3 2020[27]. - Total comprehensive income attributable to the parent company was CNY 114,232,336.27, down from CNY 135,259,274.96 in the previous period, representing a decrease of approximately 15.1%[28]. - Basic earnings per share decreased to CNY 0.4207 from CNY 0.5250, reflecting a decline of about 20%[28]. Assets and Liabilities - Total assets at the end of Q3 2021 amounted to ¥1,995,889,838.17, reflecting a slight increase of 0.56% from the end of the previous year[3]. - The company's total assets as of September 30, 2021, amounted to ¥1,995,889,838.17, slightly up from ¥1,984,725,390.71 at the end of 2020[24]. - The company's total liabilities decreased by 3.69% compared to the previous year, amounting to ¥1,629,374,698.99[4]. - Current liabilities totaled ¥338,316,379.70 in Q3 2021, an increase of 21.9% from ¥277,086,938.32 in Q3 2020[24]. - The company's total equity decreased to ¥1,645,277,038.98 from ¥1,707,608,618.31, reflecting a decline of 3.6%[24]. - Total liabilities reached CNY 277,116,772.40, reflecting a decrease of CNY 2,337,684.57 from the prior period[36]. - The company's equity attributable to shareholders totaled CNY 1,691,829,385.34, remaining stable compared to the previous reporting period[36]. Cash Flow - The net cash flow from operating activities for the first nine months of 2021 was ¥113,099,998.81, up 25.29% from the previous year[11]. - Net cash flow from operating activities increased to CNY 113,099,998.81, compared to CNY 90,270,693.58 in the previous period, marking an increase of approximately 25.3%[31]. - Cash inflow from investment activities totaled CNY 2,276,599,090.03, up from CNY 1,580,723,252.07, indicating an increase of about 44%[31]. - Net cash flow from investment activities was negative at CNY -291,330,313.97, an improvement from CNY -673,357,097.02 in the previous period[31]. - Total cash outflow from financing activities was CNY 179,795,497.73, compared to CNY 164,414,509.81 in the previous period, reflecting an increase of about 9.5%[31]. Research and Development - Research and development expenses for the first nine months of 2021 reached ¥53,643,825.06, an increase of 40.05% year-on-year, indicating a focus on new product development[10]. - Research and development expenses increased to ¥53,643,825.06 in Q3 2021, compared to ¥38,302,699.10 in Q3 2020, reflecting a growth of 40%[27]. Shareholder Information - The top 10 shareholders hold a combined 47.73% of the total shares, with Wu Xiaoning and Ye Lu owning 21.41% and 21.15% respectively[14]. - Wu Xiaoning and Ye Lu, as a couple, collectively hold 134,088,815 shares, representing 47.73% of the total share capital[14]. - The company has a total of 109,044,285 restricted shares held by executives, with a portion subject to annual unlocking conditions[17]. International Expansion - The company has completed the registration of Jones Tech (Thailand) Co., Ltd. and acquired over 103 acres of land and more than 5,000 square meters of factory space in Thailand for project development[18]. - The company has initiated the construction of its Thailand project, marking a significant step in its international expansion strategy[18]. - The construction of the Yixing thermal module base is progressing as planned, despite indirect impacts from regional environmental and power restriction policies[19]. - The company is actively pursuing its 5G efficient module cooling investment project, maintaining its original construction schedule[19]. Financial Reporting Changes - The company has adopted new leasing standards starting from 2021, which may impact financial reporting and asset valuation[32]. - The company has implemented a new leasing standard effective from January 1, 2021, impacting financial reporting[37]. - The report for the third quarter was not audited, indicating potential limitations in the reliability of the financial data presented[37].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥589,067,725.16, representing a 48.49% increase compared to ¥396,695,886.02 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was ¥71,395,438.47, up 12.44% from ¥63,498,201.11 in the previous year[23]. - The net profit after deducting non-recurring gains and losses was ¥63,202,028.97, reflecting a 4.02% increase from ¥60,759,183.52 in the same period last year[23]. - The basic earnings per share for the reporting period was ¥0.2547, a slight increase of 1.31% from ¥0.2514 in the previous year[23]. - The diluted earnings per share was ¥0.2541, reflecting a 1.07% increase from ¥0.2514 in the same period last year[23]. - The total profit for the first half of 2021 was CNY 79,270,983.25, up from CNY 73,494,289.30 in the same period last year, marking an increase of 7.7%[145]. - The company's investment income for the first half of 2021 was CNY 6,245,331.33, compared to CNY 1,881,393.63 in the same period last year, showing a substantial increase[143]. - The company reported a net profit margin improvement, with net profit for the first half of 2021 reflecting a positive trend compared to the previous year[143]. Cash Flow and Assets - The net cash flow from operating activities decreased by 17.95% to ¥55,041,022.04, down from ¥67,081,152.79 in the previous year[23]. - The total assets at the end of the reporting period were ¥1,871,325,953.07, a decrease of 5.71% from ¥1,984,725,390.71 at the end of the previous year[23]. - The cash and cash equivalents decreased by 148.17% to -¥341,275,431.76, attributed to investments in financial products and cash dividends[38]. - The total cash inflow from investment activities was ¥1,558,247,644.85, up from ¥1,007,160,617.63 in the previous year, indicating a significant increase of approximately 55%[153]. - The total current assets decreased to CNY 1,381,405,124.38 from CNY 1,569,438,529.11, indicating a reduction of about 12%[136]. - The company's cash and cash equivalents decreased significantly to CNY 95,598,141.73 from CNY 522,451,559.24 at the end of 2020, a decline of 81.7%[140]. Research and Development - The company focuses on R&D-driven solutions for electronic product reliability issues, with key products including high thermal conductivity graphite and EMI shielding materials[30]. - Research and development investment increased by 33.53% to ¥33,300,034.89, driven by the establishment of a high-standard R&D platform and the recruitment of R&D talent[38]. - The company has a dedicated R&D team across multiple technology fields, ensuring it remains at the forefront of innovation[35]. - The company is addressing potential risks from product price declines by enhancing product structure and performance through R&D innovation[68]. Market Strategy and Positioning - The company aims to leverage the growing demand for automation and smart devices across industries, driven by technological advancements and customer service excellence[33]. - The company has established a strong presence in various sectors, including consumer electronics, communication equipment, industrial electronics, medical devices, photovoltaic, and new energy vehicles[31]. - The company emphasizes a direct sales model complemented by distribution, ensuring production plans align with customer orders[32]. - The company is positioned to benefit from the rapid development of the photovoltaic industry, supported by national policies aimed at carbon neutrality[34]. - The company is expanding its product applications into emerging industries such as high-end equipment manufacturing, automotive electronics, and medical devices[67]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares[5]. - The total number of shares before the change was 280,951,707, with 49.29% being restricted shares, which decreased to 38.81% after the change[115]. - Major shareholder Wu Xiaoning holds 22.21% of the shares, totaling 62,392,078, with 15,598,020 shares pledged[121]. - The company completed the registration of the repurchased restricted stock on August 6, 2021, reducing the total share capital from 280,951,707 shares to 280,929,947 shares[77]. Compliance and Governance - The company has not faced any administrative penalties related to environmental issues during the reporting period[83]. - The company has obtained ISO14001:2015 environmental management system certification, indicating a commitment to environmental protection[84]. - The financial report for the first half of 2021 was not audited[133]. - There were no significant litigation or arbitration matters during the reporting period[94]. Risks and Challenges - The company is facing risks related to high customer and industry concentration, which could impact performance if demand declines[67]. - The company is accelerating overseas industrial layout to mitigate risks from international trade tensions[69]. - The company has experienced a downward trend in raw material prices, but future price increases could pressure profitability[68].

Financial Performance - The company's revenue for Q1 2021 was ¥284,490,815.25, representing a 63.33% increase compared to ¥174,177,858.78 in the same period last year[8] - Net profit attributable to shareholders was ¥30,113,904.01, up 50.40% from ¥20,021,917.64 year-over-year[8] - The net profit after deducting non-recurring gains and losses was ¥24,583,308.42, reflecting a 30.22% increase from ¥18,878,121.68 in the previous year[8] - The basic earnings per share increased by 34.54% to ¥0.1075 from ¥0.0799 in the same period last year[8] - Operating revenue for the current period was CNY 284,490,815.25, compared to CNY 174,177,858.78 in the previous period, reflecting a significant increase[44] - Net profit for the current period is 30,226,487.23, compared to 19,827,556.65 in the previous period, reflecting a year-over-year increase of about 52.5%[46] - Basic earnings per share rose to 0.1075 from 0.0799, indicating a growth of approximately 34.6%[47] Cash Flow and Liquidity - The net cash flow from operating activities decreased by 37.73% to ¥37,475,450.28, down from ¥60,178,311.42 year-over-year[8] - The total cash and cash equivalents decreased by 31.87% to 444.30 million yuan, mainly due to the use of idle funds for purchasing financial products[20] - The company reported a decrease in cash and cash equivalents from 652,136,568.51 to 444,304,252.30, indicating a reduction of approximately 31.9%[36] - The cash and cash equivalents decreased to CNY 287,074,216.10 from CNY 522,451,559.24, a decline of approximately 45%[39] - Cash flow from operating activities was 357,543,587.67, significantly higher than 251,948,452.03 in the previous period, indicating an increase of approximately 41.8%[53] - The ending cash and cash equivalents balance was $438.85 million, down from $347.19 million, reflecting a decrease of 26.3%[55] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,989,199,558.00, a slight increase of 0.23% from ¥1,984,725,390.71 at the end of the previous year[8] - The net assets attributable to shareholders increased by 1.81% to ¥1,722,392,890.85 from ¥1,691,829,385.34 at the end of the last year[8] - Current liabilities decreased to CNY 245,922,400.14 from CNY 277,086,938.32, indicating a reduction of about 11.2%[38] - Total liabilities were CNY 248,853,466.63, down from CNY 277,116,772.40, representing a decline of approximately 10.2%[38] - The company's total equity increased to CNY 1,740,346,091.37 from CNY 1,707,608,618.31, marking a growth of about 1.9%[39] - Total liabilities amounted to 277,116,772.40, with non-current liabilities at 2,367,518.65[62] Operating Costs and Expenses - Operating costs rose to 218.26 million yuan, up 77.54% from the previous period, mainly driven by increased revenue[19] - Research and development expenses increased by 59.76% to 16.46 million yuan, attributed to a rise in R&D personnel and new project costs[19] - Total operating costs for the current period were 258,469,418.86, compared to 152,501,187.85 in the previous period, an increase of approximately 69.3%[46] - The company reported a financial expense of -2,474,079.50, compared to 773,149.34 in the previous period, indicating a reduction in financial costs[46] Investment and Projects - The total amount of raised funds for the quarter was 96,290.62 million, with a negative investment of -164.31 million[26] - Cumulative investment of raised funds reached 36,176.57 million, with a utilization ratio of 0.00% for changes in purpose[26] - The project for high polymer composite shielding thermal conductive materials had an investment of 13,619.67 million, achieving a progress of 100.01%[26] - The 5G efficient heat dissipation module project had an investment of 61,670.95 million, with only 2.52% of the project completed by the end of the reporting period[26] Market Strategy - The company plans to continue expanding its market share and enhancing its product offerings to sustain growth in the upcoming periods[22] - The company is focusing on expanding its market presence and enhancing its product offerings through new technology developments[39]

Financial Performance - The company's operating revenue for 2020 was CNY 1,148,599,793.51, representing a 48.06% increase compared to CNY 775,748,561.92 in 2019 [26]. - The net profit attributable to shareholders for 2020 was CNY 188,093,964.05, a 53.09% increase from CNY 122,864,489.18 in 2019 [26]. - The net cash flow from operating activities decreased by 8.52% to CNY 154,802,419.71 in 2020 from CNY 169,220,890.99 in 2019 [26]. - The total assets at the end of 2020 reached CNY 1,984,725,390.71, a 91.33% increase from CNY 1,037,316,194.09 at the end of 2019 [26]. - The company's basic earnings per share for 2020 was CNY 0.7069, up 44.32% from CNY 0.4898 in 2019 [26]. - The company reported a total of CNY 9,439,859.29 in non-recurring gains and losses for 2020, compared to CNY 6,102,487.23 in 2019 [32]. - The company achieved a revenue of CNY 1.15 billion in 2020, representing a growth of 48.06% compared to the previous year [49]. - The net profit for the year was CNY 188 million, an increase of 53.09% year-over-year [49]. Dividend Policy - The company reported a cash dividend of 6.3 RMB per 10 shares (including tax) and no bonus shares for the fiscal year 2020, based on a total share capital of 280,929,947 shares [15]. - The cash dividend for 2020 represents 94.09% of the net profit attributable to ordinary shareholders [109]. - The total distributable profit for 2020 was 259,674,092.27 CNY, with the cash dividend accounting for 100% of the profit distribution [104]. - The company has a clear and complete decision-making process for its cash dividend policy, ensuring shareholder rights are protected [104]. Market and Operational Risks - The company faces risks related to high customer and industry concentration, particularly in the consumer electronics and communication sectors, which could impact performance if demand does not continue to grow [6]. - The price of synthetic graphite products has been declining due to increased supply and competition, posing a risk to the company's pricing power if it cannot innovate and expand its market share [7]. - The company is exposed to risks from raw material price volatility, which could pressure profitability if prices rise in the future [10]. - The ongoing COVID-19 pandemic poses risks to the company's production and performance due to potential declines in customer shipments [15]. Research and Development - The company emphasizes the importance of retaining core R&D personnel to maintain competitive advantage and develop new products, amid increasing competition for talent [9]. - The company plans to continue increasing its R&D investment to enhance its technological capabilities in high-performance materials [36]. - The company’s R&D focus includes advanced materials for heat dissipation and EMI shielding, with significant investments in technology development [44]. - The company reported a significant increase in R&D expenses, totaling ¥73.33 million, which is a 62.86% increase year-over-year, reflecting a focus on maintaining technological leadership [63]. Customer and Sales Dynamics - The revenue from the consumer electronics sector was CNY 992 million, accounting for 86.37% of total revenue, with a growth of 47.90% [51]. - The top five customers accounted for 59.53% of total annual sales, with the largest customer contributing ¥254.07 million, or 22.12% of total sales [61]. - The company’s inventory increased by 68.04% compared to the beginning of the year, driven by an increase in orders on hand [42]. - The company’s accounts receivable rose by 39.28%, attributed to a 40% increase in revenue in the fourth quarter compared to the same period last year [42]. Investment and Expansion - The company has initiated several equity investments, including a CNY 16 million investment in a new electronic component company, holding an 80% stake [76]. - The company completed the construction of its production base in South China, enhancing its service capabilities for domestic consumer electronics clients [51]. - The company initiated the construction of a factory in Thailand to further expand its overseas market presence [51]. - The company has committed to invest RMB 96.29 million in various projects, with RMB 21.72 million already invested [84]. Share Capital and Management - The company raised a total of RMB 830,999,999.13 through a non-public offering of 29,066,107 shares at a price of RMB 28.59 per share [154]. - The total number of shares increased from 252,050,400 to 281,116,507 following the issuance [154]. - The company has established a clear framework for share reduction, ensuring that any sales are conducted at or above the audited net asset value per share [112]. - The company’s management has committed to maintaining transparency and compliance with the Shenzhen Stock Exchange regulations during share transactions [112]. Corporate Governance and Compliance - The company has a commitment to corporate governance, with a structured approach to the roles and responsibilities of its board members [200]. - The company has been actively involved in the management of its subsidiaries, ensuring alignment with its overall business strategy [200]. - The company has a diverse leadership team, which includes individuals with extensive experience in various industries, contributing to its strategic direction [200]. - The company has implemented ISO 14001:2015 environmental management system certification, ensuring compliance with environmental standards [152].

Financial Performance - Net profit attributable to shareholders increased by 48.32% to CNY 71,973,989.57 for the current period[9] - Operating income rose by 47.87% to CNY 371,528,022.94 for the current period[9] - Basic earnings per share increased by 41.91% to CNY 0.2736 for the current period[9] - The weighted average return on equity improved to 5.79%, an increase of 6.72 percentage points compared to the previous year[9] - The net profit attributable to shareholders for the year-to-date period increased by 77.34% to CNY 135,472,190.68[9] - The company's total operating revenue for the current period reached ¥371,528,022.94, compared to ¥251,257,784.96 in the previous period, representing a growth of approximately 47.8%[45] - The company reported a net profit of ¥432,460,091.02, compared to ¥411,339,916.78 in the previous year, showing an increase of about 5.1%[40] - Total comprehensive income for the current period was ¥71,158,029.63, compared to ¥48,736,702.88, representing a growth of about 46.0%[48] - The company's operating revenue for Q3 2020 reached ¥628.75 million, a 37.4% increase from ¥457.40 million in the same period last year[54] - Net profit for Q3 2020 was ¥134.42 million, up 75.2% from ¥76.78 million in Q3 2019[54] Asset and Liability Management - Total assets increased by 84.46% to CNY 1,913,446,884.69 compared to the end of the previous year[9] - Total current assets increased to ¥1,533,393,122.74 as of September 30, 2020, up from ¥700,662,597.06 at the end of 2019, representing a growth of approximately 118.5%[37] - Total liabilities amounted to ¥266,328,299.68, slightly up from ¥241,431,984.55, reflecting an increase of approximately 10.3%[39] - Owner's equity reached ¥1,647,118,585.01, compared to ¥795,884,209.54 at the end of 2019, indicating a growth of about 106.5%[40] - The company's total assets increased to ¥1,913,446,884.69 from ¥1,037,316,194.09, representing a growth of approximately 84.4%[40] - The company holds CNY 272,427,631.24 in fixed assets, which is a critical component of its non-current assets[68] - The total equity attributable to the parent company is CNY 781,079,513.13, indicating a strong equity position[70] Cash Flow Analysis - Net cash flow from operating activities surged by 168.95% to CNY 23,189,540.79 for the current period[9] - The company's cash flow from operating activities surged by 203.73% to ¥90,270,693.58, driven by the expansion of revenue scale[26] - The net cash flow from operating activities for Q3 2020 was CNY 90,270,693.58, a significant increase from CNY 29,721,109.27 in Q3 2019, reflecting a growth of over 203%[61] - Total cash inflow from investment activities was CNY 1,580,723,252.07, compared to CNY 152,608,661.70 in the same period last year, indicating a substantial increase of approximately 935%[62] - The net cash flow from financing activities reached CNY 657,571,715.75, a turnaround from a negative cash flow of CNY 45,195,091.00 in Q3 2019, showcasing a positive shift in financing strategy[62] Shareholder Information - The company reported a total of 15,182 common shareholders at the end of the reporting period[13] - The top shareholder, Ye Lu, holds 22.27% of the shares, totaling 62,568,195 shares[13] Government Support - The company received government subsidies amounting to CNY 2,045,400.08 during the reporting period[10] Operational Insights - The accounts receivable increased by 30.84% to ¥331,360,551.45, attributed to increased shipment volumes during the peak sales season[21] - The gross profit margin for the first nine months was impacted by a 54.05% increase in operating costs, totaling ¥506,529,285.15, in line with revenue growth[23] - The company incurred cash outflows of CNY 480,108,471.93 for purchasing goods and services, which is a 81% increase from CNY 264,738,777.78 in the previous year[61] - Research and development expenses rose to ¥13,363,806.29 from ¥11,918,498.30, an increase of approximately 12.1%[46] Compliance and Standards - The company has not reported any violations regarding external guarantees or non-operational fund occupation by major shareholders during the reporting period[30][31] - The company executed a new revenue standard from January 1, 2020, reclassifying prepayments related to performance obligations to contract liabilities[74] - The company implemented new revenue and lease standards starting from January 1, 2020, affecting the classification of prepayments to contract liabilities[76]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥396,695,886.02, representing a 56.99% increase compared to ¥252,695,998.89 in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2020 was ¥63,498,201.11, a significant increase of 127.86% from ¥27,866,865.88 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was ¥60,759,183.52, up 144.78% from ¥24,821,474.48 year-on-year[18]. - The basic earnings per share for the first half of 2020 was ¥0.2514, an increase of 127.10% compared to ¥0.1107 in the same period last year[18]. - The total assets at the end of the reporting period were ¥1,767,444,876.91, reflecting a 70.39% increase from ¥1,037,316,194.09 at the end of the previous year[18]. - The net cash flow from operating activities was ¥67,081,152.79, which is a 5.88% increase compared to ¥63,355,425.10 in the same period last year[18]. - The weighted average return on equity for the first half of 2020 was 7.97%, up from 4.02% in the previous year, an increase of 3.95 percentage points[18]. - The company achieved operating revenue of 396,695,886.02 CNY, a year-on-year increase of 56.99% due to significant growth in major customer orders[37]. - The net profit attributable to shareholders reached 6,349,820.00 CNY, reflecting a substantial year-on-year growth of 127.86%[37]. Assets and Liabilities - The total liabilities surged to ¥1,009,234,424.41, compared to ¥241,431,984.55 at the end of 2019, reflecting an increase of approximately 318.5%[145]. - The total equity attributable to shareholders decreased to ¥740,871,890.38 from ¥781,079,513.13, a decline of approximately 5.1%[146]. - Current assets increased to ¥1,410,347,898.38 as of June 30, 2020, up from ¥700,662,597.06 at the end of 2019, representing a growth of approximately 100.9%[144]. - The company’s total cash inflow from financing activities was ¥821,986,225.56 in the first half of 2020, compared to ¥181,500,000.00 in the same period of 2019, reflecting a strong increase in financing efforts[161]. - The total amount of other comprehensive income transferred to retained earnings was not specified but included in the overall financial results[167]. Research and Development - Research and development expenses amounted to CNY 24.94 million, representing 6.29% of total revenue, with a year-on-year increase of 27.99%[31]. - The company’s ongoing investment in R&D aims to maintain its technological leadership in high thermal conductivity materials and EMI shielding technologies[31]. - Research and development investment increased by 27.99% to 24,938,892.81 CNY, driven by new project and product development[40]. Market Position and Strategy - The company is positioned to benefit from the acceleration of domestic substitution due to the US-China trade war and the construction of 5G infrastructure in China[29]. - The company’s business model focuses on direct sales and customized services for major clients, ensuring a strong customer base[27]. - The company aims to continue expanding its market presence and investing in new technologies to drive future growth[151]. - The company plans to continue its market expansion strategy, focusing on new product development and technological advancements[170]. Risks and Challenges - The company faces risks from potential declines in product prices due to increased competition and market supply, which could compress profit margins[66]. - The ongoing COVID-19 pandemic poses risks to production and performance due to potential declines in customer shipment volumes[69]. - The overall trend of raw material prices was downward during the reporting period, but future fluctuations could impact profitability[67]. Shareholder and Capital Management - The company plans to distribute dividends by converting capital reserves into shares, resulting in an increase of 94.52 million shares, raising the registered capital to RMB 252.05 million[184]. - The company has committed to enhancing its profitability and minimizing the impact of the IPO on net asset return and earnings per share dilution[79]. - The company plans to prioritize cash dividends, distributing no less than 20% of the annual distributable profits in cash each year for the next three years[81]. - The company has established a long-term commitment to dividend distribution following the IPO[79]. Compliance and Governance - The financial report was approved by the company's board on August 26, 2020[188]. - The financial statements are prepared based on the assumption of going concern and reflect the company's financial position, operating results, and cash flows accurately[192]. - The company has not reported any disputes or pledges regarding its shares as of the report date[77]. - The company has not undergone any bankruptcy restructuring during the reporting period[89]. Stock Incentive Plan - The company implemented a restricted stock incentive plan in November 2018, granting 1,248,500 shares, which accounted for 0.80% of the total share capital at that time[93]. - The performance assessment for the first lock-up period requires a net profit growth rate of no less than 20% based on the 2018 net profit[87]. - The company plans to repurchase and cancel 24,000 shares from two individuals who no longer meet the incentive conditions at a repurchase price of 10.95 CNY per share[98]. Environmental and Social Responsibility - The company has established a series of procedures for environmental management and has obtained ISO14001:2015 certification[111]. - The company does not belong to the key pollutant discharge units as per environmental protection department announcements[111]. - The company has not conducted any poverty alleviation work during the reporting period and has no subsequent plans[112].

Financial Performance - Total operating revenue for Q1 2020 reached ¥174,177,858.78, representing a 72.35% increase compared to ¥101,057,633.61 in the same period last year[7] - Net profit attributable to shareholders was ¥20,021,917.64, up 60.72% from ¥12,457,945.66 year-on-year[7] - Net profit excluding non-recurring gains and losses was ¥18,878,121.68, reflecting a 53.10% increase from ¥12,330,445.63 in the previous year[7] - Basic earnings per share rose to ¥0.0799, a 60.76% increase from ¥0.0497 in the previous year[7] - The company achieved total operating revenue of 174.18 million yuan, a 72.35% increase compared to the same period last year[18] - Net profit attributable to shareholders reached 20.02 million yuan, reflecting a 60.72% growth year-on-year[19] - The company's operating income for Q1 2020 was CNY 168,892,763.67, compared to CNY 67,951,617.32 in the previous period, indicating a significant increase[44] - The net profit for Q1 2020 reached CNY 19,827,556.65, up from CNY 12,644,110.17 in the same period last year, representing a growth of approximately 56.5%[41] - The total comprehensive income for Q1 2020 was CNY 19,860,606.94, compared to CNY 12,632,873.48 in the previous period, marking a growth of 57.5%[42] - The company's operating profit for Q1 2020 was CNY 24,034,683.35, an increase from CNY 15,917,449.37 in the previous year, showing a growth of 50.5%[41] Cash Flow - Net cash flow from operating activities was ¥60,178,311.42, an increase of 31.73% compared to ¥45,681,705.32 in the same period last year[7] - The net cash flow from operating activities was CNY 60,178,311.42, an increase from CNY 45,681,705.32 in the previous period, reflecting a growth of approximately 31.5%[49] - Cash inflow from operating activities for Q1 2020 was CNY 262,948,089.59, compared to CNY 168,420,195.09 in the previous period, indicating a substantial increase[48] - The net cash flow from financing activities was -CNY 7,328,023.72, a significant decrease from a positive net cash flow of CNY 12,662,624.99 in the prior period[50] - Cash inflow from investment activities totaled CNY 379,930,715.57, while cash outflow was CNY 412,025,214.12, resulting in a net cash flow of -CNY 32,094,498.55, compared to -CNY 8,447,591.59 previously[49] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,043,467,759.69, a slight increase of 0.59% from ¥1,037,316,194.09 at the end of the previous year[7] - The total assets as of March 31, 2020, amount to 1,043,467,759.69 yuan, compared to 1,037,316,194.09 yuan at the end of 2019[32] - Total liabilities include short-term borrowings of 42,483,816.67 yuan, down from 52,608,108.10 yuan[32] - Total liabilities decreased to CNY 222,553,901.96 from CNY 241,431,984.55, a reduction of about 7.8%[34] - The total amount of raised funds for the quarter is 14,619.67 million yuan[23] - Cumulative amount of raised funds used for projects is 14,622.32 million yuan, with a usage ratio of 0.00%[23] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 14,993[11] - The top two shareholders, Ye Lu and Wu Xiaoning, hold 24.82% and 24.75% of shares respectively, with significant portions pledged[11] Inventory and Receivables - Accounts receivable decreased by 44.74% to 1.67 million yuan due to the settlement of receivables during the period[17] - Inventory increased by 44.88% to 100.77 million yuan, driven by a rise in business volume[17] - The inventory as of March 31, 2020, is 100,769,063.22 yuan, an increase from 69,553,245.81 yuan[30] - Accounts receivable decreased to CNY 187,896,479.36 from CNY 214,217,919.79, indicating a reduction of about 12.3%[34] - Inventory increased significantly to CNY 24,906,821.21 from CNY 9,082,040.76, representing an increase of approximately 174%[34] Government Subsidies and Other Income - The company received government subsidies amounting to ¥363,076.16 during the reporting period[8] - The company reported a 142.07% increase in other income to 3.63 million yuan, mainly from government subsidies[18] Research and Development - The company reported a significant increase in research and development expenses to CNY 10,302,529.79 from CNY 8,670,507.43, an increase of about 18.8%[40] - The research and development expenses for Q1 2020 were CNY 3,442,953.96, up from CNY 2,466,774.15 in the previous year, indicating a commitment to innovation[44] Compliance and Governance - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[26] - The company has no violations regarding external guarantees during the reporting period[25] - The first quarter report was not audited, indicating preliminary financial data[61] Changes in Accounting Standards - The company has implemented new revenue and leasing standards starting in 2020, affecting the financial statements[54] - The company has implemented the new revenue recognition standards starting January 1, 2020, which may affect future financial reporting[61]

Financial Performance - The company's operating revenue for 2019 was ¥775,748,561.92, representing a 1.65% increase compared to ¥763,154,249.66 in 2018[25]. - The net profit attributable to shareholders for 2019 was ¥122,864,489.18, a decrease of 12.68% from ¥140,707,710.40 in 2018[25]. - The net profit after deducting non-recurring gains and losses was ¥116,762,001.95, down 15.10% from ¥137,530,563.09 in 2018[25]. - The total assets at the end of 2019 amounted to ¥1,037,316,194.09, reflecting a 14.73% increase from ¥904,110,071.94 at the end of 2018[25]. - The company's basic earnings per share for 2019 was ¥0.4898, a decline of 12.91% compared to ¥0.8999 in 2018[25]. - The weighted average return on equity for 2019 was 16.90%, down from 22.83% in 2018, indicating a decrease of 5.93%[25]. - The company reported a net cash flow from operating activities of ¥169,220,890.99, which is an 8.65% decrease from ¥185,242,489.65 in 2018[25]. Research and Development - The company is engaged in R&D for electronic product reliability solutions, focusing on high thermal conductivity synthetic graphite technology and EMI shielding materials[34]. - The company has expanded its product range to include thermal interface materials and power filter modules, serving various sectors such as consumer electronics and automotive electronics[34]. - The company has been recognized as a national high-tech enterprise, emphasizing its commitment to scientific innovation and increased R&D investment[34]. - The company's R&D investment for the reporting period was CNY 45.03 million, accounting for 5.80% of total revenue, representing a year-on-year increase of 37.90%[42]. - The company applied for 48 domestic and international patents during the reporting period, bringing the total to 110 patents as of December 31, 2019[42]. - The company has established independent R&D teams and experimental platforms across multiple technology fields, ensuring it remains at the forefront of technology development[41]. Market and Sales - The company has expanded its product applications into high-end manufacturing, automotive electronics, and medical devices, but faces challenges in maintaining margins in the consumer electronics sector[10]. - Revenue from the consumer electronics sector was 671 million yuan, accounting for 86.47% of total revenue, with a year-on-year growth of 3.22%[50]. - Domestic sales surged by 109.99% to 390 million yuan, while export revenue fell by 33.25% to 385 million yuan due to changes in processing locations for North American clients[52]. - The company successfully commercialized its scalable graphite cooling module technology in major clients' foldable smartphones, and delivered new products with thickness over 70um[47]. Risks and Challenges - The company faces risks related to high customer and industry concentration, which could lead to performance slowdown if demand in key sectors does not grow rapidly[5]. - The price of synthetic graphite products has been declining, and the company must innovate and expand market share to maintain profit margins[6]. - The company has a significant risk of core R&D personnel turnover, which could impact product competitiveness and lead to potential technology leaks[8]. - The ongoing COVID-19 pandemic poses risks to production and operational performance due to potential declines in customer shipments[13]. - The company is exposed to exchange rate fluctuations, particularly as its export business is primarily settled in USD[12]. Investment and Financing - The company plans to raise up to 831 million yuan through a private placement to fund the construction of a 5G efficient cooling module project[47]. - The company reported a total fundraising amount of RMB 14,619.67 million from its IPO, with a net amount of RMB 14,619.67 million after deducting fees[85]. - The company committed to invest a total of CNY 14,619.67 million in fundraising projects, with an actual investment of CNY 14,622.32 million, achieving 100.02% of the planned investment[86]. - The company has a long-term investment strategy, focusing on technology development and production in the electronic components sector[79]. Shareholder and Dividend Policy - The company reported a cash dividend of 4.2 RMB per 10 shares (including tax) based on a total share capital of 252,050,400 shares as of December 31, 2019[13]. - For 2019, the company plans to distribute a cash dividend of 4.20 RMB per 10 shares, amounting to 105,861,168 RMB, which represents 100% of the total profit distribution[107]. - The cash dividend payout ratio for 2019 is projected at 86.16% of the net profit attributable to ordinary shareholders[110]. - The company has consistently maintained a positive profit distribution plan over the past three years, with increasing cash dividends each year[110]. Corporate Governance and Compliance - The company has established a commitment to maintain shareholder value through regular cash dividends and strategic financial planning[112]. - The company is committed to maintaining high standards of business ethics and risk management to navigate challenges posed by macroeconomic factors and operational risks[99]. - The company has established specialized R&D teams and advanced technology research platforms to align with its strategic layout for future growth[97]. - The company has not faced any major litigation, arbitration, penalties, or bankruptcy restructuring during the reporting period[128][129]. Environmental and Social Responsibility - The company has implemented ISO 14001:2015 environmental management system certification, ensuring compliance with national environmental standards[156]. - The company has actively participated in social responsibility initiatives, including spending over RMB 80,000 on poverty alleviation products[153]. - The company has committed to creating social value and integrating social responsibility into its business development strategy[154]. Share Structure and Management - The total share capital increased from 157,531,500 shares to 252,050,400 shares after a capital reserve conversion, resulting in a 60% increase in share capital[165]. - The company has a diverse board with members holding various professional backgrounds, including engineering and management[188][189][190][191][192]. - The company has maintained a stable leadership structure with key positions held since its establishment in 1997[188]. - The total remuneration for the current and former independent directors, non-independent directors, supervisors, and senior management during the reporting period amounted to 6.631 million yuan (before tax)[198].

Financial Performance - The company's operating revenue for 2019 was ¥775,748,561.92, representing a 1.65% increase compared to ¥763,154,249.66 in 2018[25]. - Net profit attributable to shareholders for 2019 was ¥122,864,489.18, a decrease of 12.68% from ¥140,707,710.40 in 2018[25]. - The net profit after deducting non-recurring gains and losses was ¥116,762,001.95, down 15.10% from ¥137,530,563.09 in 2018[25]. - The basic earnings per share for 2019 was ¥0.4898, a decrease of 12.91% compared to ¥0.8999 in 2018[25]. - The company reported a net cash flow from operating activities of ¥169,220,890.99, which is an 8.65% decrease from ¥185,242,489.65 in 2018[25]. - The company achieved operating revenue of 776 million yuan, an increase of 1.65% compared to the previous period, while net profit attributable to shareholders was 123 million yuan, a decrease of 12.68%[47]. Dividend Distribution - The company reported a cash dividend of 4.2 RMB per 10 shares (including tax) based on a total share capital of 252,050,400 shares as of December 31, 2019[13]. - The cash dividend for 2019 amounted to 105,861,168 RMB, representing 100% of the profit distribution total[104]. - The cash dividend payout ratio for 2019 is 86.16% of the net profit attributable to shareholders[109]. - The company plans to maintain a minimum cash dividend ratio of 20% of the distributable profit in future distributions[106]. - The company has consistently provided cash dividends over the past three years, reflecting a commitment to shareholder returns[109]. Research and Development - The company is engaged in R&D-driven manufacturing, focusing on reliability solutions for electronic products, including thermal interface materials and EMI shielding materials[34]. - The company has increased its R&D investment and is recognized as a national high-tech enterprise, focusing on high thermal conductivity synthetic graphite technology and other advanced materials[34]. - The company's R&D investment for the reporting period was CNY 45.03 million, accounting for 5.80% of total revenue, representing a year-on-year increase of 37.90%[42]. - The number of R&D personnel increased to 139, representing 18.58% of the total workforce, up from 12.84% in 2018[65]. - The company has made significant progress in the research of new materials and technologies for 5G communication, with multiple projects entering the batch delivery phase during the reporting period[96]. Market and Sales Performance - The revenue from the consumer electronics sector was 671 million yuan, accounting for 86.47% of total revenue, with a year-on-year growth of 3.22%[50]. - The company reported a significant increase in domestic sales, which reached 390 million yuan, a 109.99% increase year-on-year, while foreign sales dropped by 33.25% to 385 million yuan[52]. - The company's gross margin for the consumer electronics sector was 33.56%, a decrease of 1.45% compared to the previous year[53]. - The company successfully commercialized its scalable graphite heat dissipation module technology in large quantities for major clients' foldable smartphones[47]. Risks and Challenges - The company faces risks related to high customer and industry concentration, which could lead to performance slowdown if demand in key sectors does not grow rapidly[5]. - The price of synthetic graphite products has been declining, and the company may face further profit margin compression if it cannot innovate and expand market share[6]. - The company has a significant risk of core R&D personnel turnover, which could impact product competitiveness and lead to potential leakage of trade secrets[8]. - The ongoing COVID-19 pandemic poses uncertainty regarding economic recovery and may negatively impact production and performance[13]. - The overall trend of raw material prices has been declining, but future increases could pressure the company's profitability[9]. Governance and Management - The company has established a comprehensive governance system and incentive mechanisms to retain core technical personnel amidst increasing market competition[8]. - The company emphasizes a customer-centric strategy, focusing on serving the top five clients in target industries, enhancing service quality and customer dependency[43]. - The company has implemented a new organizational structure to improve customer service and invested in a Manufacturing Execution System (MES) to enhance operational efficiency[97]. - The company has committed to social responsibility and risk management, focusing on quality control and compliance with laws and regulations[98]. Acquisitions and Investments - The company completed the cash acquisition of Wuxi Zhongshi Kuluojie Technology Co., Ltd., adding one new subsidiary to its consolidated scope[58]. - The company established a wholly-owned subsidiary, Beijing Zhongshi Weiye Technology Yixing Co., Ltd., further expanding its consolidation scope by one additional subsidiary[125]. - The company plans to raise a total of RMB 831 million through a non-public offering of A shares, which has been approved by the China Securities Regulatory Commission[156]. - The company has committed to further acquisitions of shares in Wuxi Zhongshiku Luojie, with future purchases based on a valuation of 10 times the net profit after deducting non-operating losses[159]. Financial Management - The company has undertaken measures to ensure investor returns are not adversely affected by the IPO[113]. - The company will strengthen financial management and cost control to improve capital efficiency and reduce expenses[114]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[118]. - The company has not engaged in any significant pollution activities and does not fall under the category of key pollutant discharge units[155]. Shareholder Structure - The total number of ordinary shareholders at the end of the reporting period was 252,050,400[173]. - The largest shareholder, Ye Lu, holds 24.82% of the shares, totaling 62,568,195 shares[173]. - The controlling shareholders, Ye Lu and Wu Xiaoning, hold a combined total of 140,166,673 shares, representing 55.61% of the total share capital[174]. - The company’s stock structure includes 0 preferred shareholders and 14,993 ordinary shareholders[173]. Compliance and Integrity - The company has maintained a clean integrity status with no issues reported for itself or its controlling shareholders[130]. - The company has not faced any major litigation or arbitration matters during the reporting period[128]. - There were no penalties or rectification measures imposed on the company during the reporting period[129].

Financial Performance - Net profit attributable to shareholders decreased by 24.96% to CNY 48,526,102.96 for the reporting period[7] - Operating revenue declined by 14.33% to CNY 251,257,784.96 compared to the same period last year[7] - Basic earnings per share fell by 25.39% to CNY 0.1928 for the reporting period[7] - Total profit decreased by 31.44% to ¥92,137,338.37 due to reduced operating income and increased R&D expenses[18] - The net profit for the third quarter was CNY 48,722,239.17, down from CNY 64,714,049.65 in the same period last year, reflecting a decrease of approximately 24.7%[40] - The company reported a total profit of CNY 24,151,753.24 for the third quarter, down from CNY 36,381,311.65 in the previous year, indicating a decline of approximately 33.6%[42] - The total profit for Q3 2019 was ¥92,137,338.37, down from ¥134,387,217.19 in Q3 2018, representing a decline of 31%[48] Revenue and Costs - Total operating revenue for Q3 2019 was CNY 251,257,784.96, a decrease of approximately 14.4% compared to CNY 293,286,121.22 in the same period last year[38] - Total operating costs for Q3 2019 were CNY 189,356,525.83, down from CNY 205,538,752.67, reflecting a reduction of about 7.9%[38] - The total operating revenue for the third quarter was CNY 242,737,417.59, compared to CNY 141,210,258.20 in the previous period, indicating a significant increase[42] - The total operating costs for the year-to-date period were CNY 415,503,014.19, compared to CNY 432,621,200.06 in the previous year, showing a decrease of about 3.9%[45] Assets and Liabilities - Total assets increased by 7.82% to CNY 974,802,294.97 compared to the end of the previous year[7] - The company's total assets as of September 30, 2019, amounted to CNY 688,155,557.91, compared to CNY 574,040,793.34 at the end of 2018, representing an increase of about 19.9%[34] - Total liabilities increased to CNY 231,570,005.35 from CNY 223,105,280.21, marking a rise of approximately 3.1%[31] - The company reported a total liability of CNY 223,105,280.21, with no non-current liabilities recorded[65] Cash Flow - Cash flow from operating activities decreased by 41.49% to CNY 29,721,109.27 year-to-date[7] - Cash generated from operating activities fell by 41.49% to ¥29,721,109.27 attributed to decreased sales revenue[19] - The net cash flow from operating activities for Q3 2019 was ¥29,721,109.27, a decrease of 41.4% compared to ¥50,799,682.41 in the same period last year[55] - The company reported a net cash outflow from investing activities of ¥179,789,595.11, compared to a smaller outflow of ¥60,557,837.19 in the previous year[56] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 18,377[11] - The top shareholder, Ye Lu, holds 24.82% of the shares, amounting to 62,568,195 shares[11] - The company did not engage in any repurchase transactions during the reporting period[12] Research and Development - Research and development expenses rose by 45.19% to ¥31,403,592.50 reflecting increased investment in R&D[17] - Research and development expenses increased to CNY 11,918,498.30, up from CNY 9,460,481.10, indicating a rise of approximately 26.0% year-over-year[38] - Research and development expenses for the third quarter amounted to CNY 4,348,173.29, up from CNY 3,043,278.07 in the previous period, representing an increase of approximately 42.8%[42] Other Financial Metrics - The weighted average return on equity decreased by 3.82% to 6.72% for the reporting period[7] - The company received government subsidies amounting to CNY 3,121,200.00 during the year[8] - The company reported a credit impairment loss of CNY -1,500,841.12 during the third quarter[40] - The company incurred credit impairment losses of ¥1,500,841.12 in Q3 2019, compared to no losses reported in the same period last year[47]