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 - 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 - 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]

Financial Performance - Total revenue for the first half of 2019 was CNY 252,695,998.89, a decrease of 7.91% compared to CNY 274,389,614.68 in the same period last year[19]. - Net profit attributable to shareholders was CNY 27,866,865.88, down 35.50% from CNY 43,202,871.70 year-on-year[19]. - Net profit after deducting non-recurring gains and losses was CNY 24,821,474.48, a decline of 41.64% compared to CNY 42,530,999.97 in the previous year[19]. - Basic earnings per share decreased by 35.90% to CNY 0.1107 from CNY 0.4973 year-on-year[19]. - The company's revenue for the reporting period was 253 million RMB, a decrease of 7.91% compared to the previous year, while net profit was 27.87 million RMB, down 35.5%[35]. - The net profit for the first half of 2019 was CNY 28,057,260.28, a decline of 35.9% from CNY 43,611,503.68 in the first half of 2018[129]. - The total profit for the first half of 2019 was CNY 12.44 million, a decrease of 58.8% compared to CNY 30.25 million in the first half of 2018[134]. Cash Flow and Assets - Operating cash flow net amount increased by 27.08% to CNY 63,355,425.10 from CNY 49,856,384.61 in the same period last year[19]. - Operating cash flow for the period was 63.36 million RMB, an increase of 27.08% compared to the previous year[39]. - The company's cash and cash equivalents increased by 6.13% to 62.35 million RMB during the reporting period[39]. - The total assets at the end of the reporting period were CNY 1,021,129,677.52, an increase of 12.94% from CNY 904,110,071.94 at the end of the previous year[19]. - The company's current assets reached RMB 708,373,794.26, up from RMB 597,343,032.59 at the end of 2018, indicating an increase of about 18.63%[119]. - Cash and cash equivalents increased to RMB 386,851,243.39 from RMB 302,801,766.23, reflecting a growth of approximately 27.78%[118]. - The total liabilities rose to RMB 331,266,156.73, compared to RMB 223,105,280.21 at the end of 2018, marking an increase of around 48.67%[121]. Research and Development - Research and development expenses reached 19.49 million RMB, accounting for 7.71% of revenue, representing a 60.13% increase year-on-year[35]. - The company emphasizes R&D investment and has established independent research teams across multiple technology fields, ensuring a competitive edge[30]. - The company established a joint laboratory for 5G base station millimeter-wave technology with Southeast University, entering the millimeter-wave module technology field[35]. - The polymer composite shielding material R&D and production project has a total investment commitment of CNY 13,619.6 million, with 100.01% of the planned investment completed by the end of the reporting period[53]. Strategic Initiatives - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company plans to expand its product lines into emerging industries such as high-end equipment manufacturing, automotive electronics, and medical devices to mitigate risks associated with high customer and industry concentration[64]. - The company aims to maintain its position in the first tier of the industry by leveraging its technological advancements and quality customer service[30]. - The company plans to unlock shares for executives at a rate of 25% per year during their tenure[97]. - The company has initiated a strategic review of potential mergers and acquisitions to enhance its competitive position in the market[149]. Shareholder Information - The total share capital increased from 157,531,500 shares to 252,050,400 shares due to a capital reserve conversion of 94,518,900 shares[92]. - The largest shareholder, Ye Lu, holds 24.82% of shares, totaling 62,568,195 shares[100]. - The second largest shareholder, Wu Xiaoning, holds 24.75% of shares, totaling 62,392,078 shares[100]. - The total number of shareholders and their respective holdings were documented, reflecting the changes post-distribution[99]. Governance and Compliance - The report indicates that the company is committed to maintaining transparency and accuracy in its financial disclosures[3]. - The company has implemented a comprehensive governance system and incentive mechanisms to maintain the stability of its core technology R&D team[65]. - The financial report for the first half of 2019 was not audited[116]. - The company has not experienced any major litigation or arbitration matters during the reporting period[73]. Market and Industry Outlook - With the rise of 5G and AI-related devices, the company sees significant growth potential in the market for core materials and components[28]. - The company has made progress in expanding its applications in downstream industries, including medical equipment, high-end manufacturing, and new energy vehicles[65]. - The company expects to achieve a revenue growth target of 15% for the next fiscal year, driven by increased demand in key markets[149].

Financial Performance - Total revenue for Q1 2019 was ¥101,057,633.61, a decrease of 3.66% compared to ¥104,899,499.25 in the same period last year[8] - Net profit attributable to shareholders was ¥12,457,945.66, down 5.55% from ¥13,190,023.87 year-on-year[8] - Net profit excluding non-recurring items was ¥12,330,445.63, reflecting a decline of 6.29% from ¥13,157,591.26 in the previous year[8] - Basic earnings per share were ¥0.0791, down 6.28% from ¥0.0844 in the previous year[8] - The company's total revenue for the reporting period was 101.06 million, a decrease of 3.66% compared to the same period last year[18] - The net profit attributable to shareholders was 12.46 million, down 5.55% year-on-year[18] - The net profit for Q1 2019 was CNY 7,512,753.13, a decrease of 21.05% compared to CNY 9,519,116.39 in the same period last year[43] - The company reported a total comprehensive income of CNY 7,512,753.13 for the quarter, compared to CNY 9,300,462.11 in the previous year, representing a decline of 19.2%[44] Cash Flow and Assets - Net cash flow from operating activities decreased by 37.05% to ¥45,681,705.32 from ¥72,566,471.28 in the same period last year[8] - Cash received from sales decreased by 46.88% compared to the previous year, primarily due to reduced shipments at the end of 2018[17] - Cash and cash equivalents at the end of the reporting period increased by 52.96% compared to the same period last year[17] - The cash and cash equivalents at the end of the period increased to CNY 353,078,126.70 from CNY 230,835,715.67, reflecting a growth of 53.0%[48] - The company's current assets totaled CNY 550,530,555.84, down from CNY 597,343,032.59 at the end of 2018, indicating a decrease of about 7.8%[29] - Total assets at the end of the reporting period were ¥854,680,814.09, a decrease of 5.47% from ¥904,110,071.94 at the end of the previous year[8] - Total assets amounted to 904,110,071.94 CNY, with current assets at 597,343,032.59 CNY and non-current assets at 306,767,039.35 CNY[55] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 14,815[12] - The top two shareholders, Ye Lu and Wu Xiaoning, hold 24.82% and 24.75% of shares respectively, with significant portions pledged[12] - Net assets attributable to shareholders increased by 2.11% to ¥693,637,665.21 from ¥679,282,463.67 at the end of the previous year[8] - The company's equity increased to CNY 693,637,665.21 from CNY 681,004,791.73, showing an increase of approximately 1.9%[31] Research and Development - R&D expenses increased by 33.08% year-on-year, reflecting the company's commitment to innovation and the operational launch of the Wuxi R&D center[17] - The company successfully developed new products such as single-layer thick graphite and flexible graphite, which are now ready for mass production[18] Liabilities and Financial Position - Total liabilities decreased to CNY 161,043,148.88 from CNY 223,105,280.21, a decline of about 27.8%[30] - Total liabilities for Q1 2019 were CNY 58,960,316.39, a decrease of 11.5% from CNY 66,550,510.02 in the previous period[35] Government Support and Other Income - The company received government subsidies amounting to ¥150,000 related to industrial transformation and upgrading support[9] - Other income for Q1 2019 was CNY 150,000.00, significantly higher than CNY 32,690.00 in the previous period[37] Operational Efficiency - Total operating costs for Q1 2019 were CNY 85,290,184.27, down 7.5% from CNY 92,238,090.37 in the previous period[37] - The company reported a decrease in sales expenses to CNY 3,548,681.26, down 27.0% from CNY 4,861,159.19 in the previous period[37] Investment and Financing Activities - The cash outflow from investing activities was CNY 8,447,591.59, compared to CNY 124,714,968.50 in the previous year, indicating a significant reduction in investment spending[48] - The net cash flow from financing activities was CNY 12,662,624.99, compared to a negative cash flow of CNY 7,088,956.04 in the same period last year, showing an improvement[48] Compliance and Reporting - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[25] - There were no violations regarding external guarantees during the reporting period[24] - The company has not reported any significant changes in net profit or potential losses for the upcoming reporting period[24] - The first quarter report was not audited, which may affect the reliability of the financial data presented[58]