长沙岱勒新材料科技股份有限公司 2019 年第三季度报告全文 公司负责人段志明、主管会计工作负责人周家华及会计机构负责人(会计主 管人员)陈冬梅声明：保证季度报告中财务报表的真实、准确、完整。 长沙岱勒新材料科技股份有限公司 2019 年第三季度报告 2 2019 年 10 月 1 长沙岱勒新材料科技股份有限公司 2019 年第三季度报告全文 长沙岱勒新材料科技股份有限公司 2019 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 1,087,407,341.27 | 1,007,712,711.67 | | 7.91% | | 归属于上市公司股东的净资产 | ...

Financial Performance - Total revenue for the reporting period was ¥124,918,421.86, a decrease of 39.65% compared to ¥206,999,649.15 in the same period last year[29]. - Net profit attributable to shareholders was -¥11,717,962.94, representing a decline of 124.34% from ¥48,134,275.63 in the previous year[29]. - The net cash flow from operating activities was -¥24,246,173.83, a significant drop of 162.07% compared to ¥39,064,062.07 in the same period last year[29]. - Basic earnings per share were -¥0.14, down 124.14% from ¥0.58 in the previous year[29]. - The company reported a total profit loss of ¥15.61 million in the first half of 2019, compared to a profit of ¥56.97 million in the same period of 2018[174]. - The company reported a net loss attributable to shareholders of 7,416,000, indicating a significant decline in profitability[190]. - The total comprehensive income for the period was 7,962,000, which represents a decrease of 11.71% compared to the previous period[189]. Investment and Capital Structure - The company plans to increase its production capacity by 6 billion meters of diamond wire through the investment of funds raised from convertible bonds[14]. - The company issued 2.1 million convertible bonds with a face value of RMB 100 each, raising a net amount of RMB 202.96 million after deducting underwriting fees[62]. - The total amount of raised funds is RMB 202.96 million, with RMB 6.43 million invested during the reporting period and a cumulative investment of RMB 78.12 million as of June 30, 2019[62]. - The company has not made any significant equity or non-equity investments during the reporting period[61]. - The company has established special accounts for managing the raised funds, ensuring compliance with relevant regulations[148]. Market and Competitive Position - The company has established a competitive advantage in technology, R&D, marketing, and service, becoming a leading domestic enterprise in the diamond wire manufacturing industry[9]. - The company is focused on expanding its market presence and developing new technologies in the superhard materials sector[21]. - The company acknowledges the potential impact of changes in national industrial policies on the sapphire and photovoltaic industries, which could affect demand for diamond wire[7]. - The company faces risks from market competition, with potential price declines due to increased market participants and customer negotiations[8]. - The company is facing risks of declining sales prices and gross margins due to increased market competition and pressure from downstream customers on material procurement costs[78]. Research and Development - Research and development expenses amounted to 8.89 million RMB, accounting for 7.12% of total revenue, with a focus on enhancing product competitiveness and expanding application areas[52]. - The company has obtained 27 authorized patents, showcasing its commitment to innovation and technology leadership in the diamond wire industry[42]. - The company will continue to increase R&D investment to improve product competitiveness and adapt to market demand[81]. Quality Management - The company has a robust quality management system certified by ISO9001:2008 and RoHS, but still faces risks related to product quality and market share[10]. - The company has implemented measures to enhance production efficiency and quality control to mitigate risks associated with product quality and maintain market share[83]. Operational Challenges - The company recognizes the challenges of management as it expands its operations and the complexity of its organizational structure[11]. - The company has conducted thorough market research for its investment projects, but acknowledges the risk of market conditions changing, which could affect expected returns[14]. - The company aims to improve operational efficiency and reduce costs in response to the current market challenges[192]. Environmental and Regulatory Compliance - The company has established an effective environmental risk management system and complies with national environmental laws and regulations[120]. - The company is classified as a key pollutant discharge unit and has met the discharge standards for chemical oxygen demand (COD) and ammonia nitrogen[119]. - The company emphasizes the ISO14001 environmental management system and promotes clean production and circular economy principles[122]. Shareholder and Governance Matters - The company has not distributed cash dividends, issue bonus shares, or increase share capital from reserves[15]. - The company’s controlling shareholders promised not to interfere with the company's management activities or infringe on company interests[97]. - The company will disclose any inability to fulfill commitments due to uncontrollable factors and will seek to protect investor rights[95]. - The company has confirmed that all commitments made to minority shareholders have been fulfilled in a timely manner[98]. Future Outlook - The company plans to enhance its market expansion strategies and invest in new product development to drive future growth[192]. - The future outlook remains cautious, with a focus on adapting to market changes and enhancing competitive advantages[192].

Financial Performance - Total revenue for Q1 2019 was ¥57,802,090.40, a decrease of 59.69% compared to ¥143,381,448.64 in the same period last year[9] - Net profit attributable to shareholders was -¥4,259,697.98, representing a decline of 110.88% from ¥39,136,802.50 year-on-year[9] - Basic and diluted earnings per share were both -¥0.05, down 110.64% from ¥0.47 in the same period last year[9] - The net profit for the first quarter of 2019 was -4.26 million yuan, a decrease of 110.88% compared to 39.14 million yuan in the same period last year[23] - The net profit for Q1 2019 was a loss of CNY 4,259,697.98, contrasting with a net profit of CNY 39,136,802.50 in the same period last year[39] - Operating profit for the quarter was -1,010,768.34 yuan, down from 47,343,405.05 yuan year-over-year[43] - The total comprehensive income for the quarter was -739,166.37 yuan, reflecting the same loss as the net profit[44] Cash Flow - Net cash flow from operating activities was -¥12,548,207.44, a decrease of 239.80% compared to ¥8,975,655.28 in the previous year[9] - Cash generated from operating activities was CNY -12.55 million, a decrease of 239.80% from CNY 8.98 million in the prior period[16] - Cash flow from operating activities showed a net outflow of -12,548,207.44 yuan, contrasting with a net inflow of 8,975,655.28 yuan in the previous year[47] - The net cash flow from operating activities was -15,598,539.10 CNY, compared to 12,330,310.89 CNY in the previous year, indicating a significant decline in operational performance[51] - The cash outflow from operating activities totaled 47,973,533.28 CNY, compared to 74,025,929.24 CNY in the previous year, showing a reduction in cash outflow[51] - The cash flow from employee payments was 14,915,811.29 CNY, down from 24,773,073.71 CNY in the previous year, indicating cost control measures[51] - The cash paid for taxes was 1,467,334.24 CNY, significantly lower than 17,183,316.83 CNY in the previous year, reflecting a potential decrease in taxable income[51] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,178,748,668.12, an increase of 16.97% from ¥1,007,712,711.67 at the end of the previous year[9] - Total current assets as of March 31, 2019, amounted to 683.14 million yuan, an increase from 507.13 million yuan at the end of 2018, representing a growth of 34.69%[28] - The company's inventory increased to 136.89 million yuan as of March 31, 2019, compared to 118.75 million yuan at the end of 2018, reflecting a rise of 15.25%[28] - Total liabilities as of March 31, 2019, were 605.00 million yuan, up from 465.13 million yuan at the end of 2018, indicating a growth of 30.06%[30] - The company's total liabilities increased to CNY 494,225,093.74 from CNY 355,323,591.87 year-over-year[36] - The non-current liabilities increased significantly to 206.30 million yuan as of March 31, 2019, from 46.19 million yuan at the end of 2018, reflecting a rise of 345.73%[30] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,931[12] - The largest shareholder, Duan Zhiming, holds 23.34% of the shares, with 19,233,000 shares pledged[12] - The company did not engage in any repurchase transactions among the top shareholders during the reporting period[13] Investment and Financing Activities - The company issued convertible bonds, resulting in a 1396.52% increase in cash from financing activities, totaling CNY 173.60 million[16] - The company raised 206,300,000.00 yuan through financing activities, significantly higher than 35,000,000.00 yuan in the previous year[48] - Total cash inflow from financing activities reached 206,300,000.00 CNY, a substantial increase from 35,000,000.00 CNY in the same period last year[52] - The net cash flow from financing activities was 175,519,437.32 CNY, compared to 11,599,937.88 CNY in the previous year, reflecting improved financing conditions[52] Operational Performance - The company experienced a 34.68% reduction in operating costs, amounting to CNY 46.78 million, in line with the decrease in sales revenue[16] - The company incurred operating expenses of 45,409,666.69 yuan, compared to 77,445,626.19 yuan in the same period last year[47] - The company generated 30,109,106.89 yuan in cash from sales of goods and services, a decrease from 85,874,814.94 yuan in the same quarter last year[50] - The company reported a significant decrease in operating revenue, achieving CNY 57.80 million in Q1 2019, down 59.69% from CNY 143.38 million in the same period last year[17] Other Income and Expenses - Non-recurring gains and losses amounted to ¥1,535,909.74, primarily from government subsidies and other income[10] - Other income surged by 8880.69%, reaching CNY 1.68 million, primarily due to increased government subsidies[16] - Research and development expenses for the quarter were CNY 3,653,943.85, down from CNY 5,077,152.95 in the previous period[37] - The company reported a total of CNY 141,160.93 in non-operating income, compared to CNY 0.04 in the previous period[39] Investment Projects - The company has invested CNY 844.55 million of the total CNY 20.30 billion raised in fundraising activities, representing 35.32% of the planned investment[21] - There were no significant changes in the feasibility of the investment projects or any unfulfilled commitments by major stakeholders during the reporting period[19][22] Audit and Reliability - The company did not undergo an audit for the first quarter report, which may affect the reliability of the financial data presented[53]

Financial Performance - The company's revenue for 2018 was approximately ¥329.99 million, a decrease of 24.22% compared to ¥435.45 million in 2017[26]. - Net profit attributable to shareholders for 2018 was approximately ¥34.01 million, down 69.46% from ¥111.35 million in 2017[26]. - The net cash flow from operating activities decreased by 68.69% to approximately ¥4.63 million in 2018 from ¥14.77 million in 2017[26]. - Basic earnings per share for 2018 were ¥0.410, a decline of 75.30% compared to ¥1.660 in 2017[26]. - The total assets at the end of 2018 were approximately ¥1.01 billion, an increase of 1.44% from ¥993.41 million at the end of 2017[26]. - The net assets attributable to shareholders at the end of 2018 were approximately ¥542.58 million, up 1.74% from ¥533.30 million at the end of 2017[26]. - The weighted average return on equity for 2018 was 6.35%, down 26.63% from 32.98% in 2017[26]. - The company achieved a net profit of CNY 47,512,383.51 for the year, after deducting CNY 4,751,238.35 for statutory surplus reserves[100]. Dividend Distribution - The company plans to distribute a cash dividend of 0.90 RMB per 10 shares (including tax) to all shareholders, based on a total of 82,400,000 shares[14]. - The total distributable profit for the year was CNY 209,466,280.54, with a cash dividend of CNY 7,416,000.00 distributed, representing 100% of the profit distribution total[99]. - In 2018, the company distributed cash dividends totaling RMB 7,416,000, which represents 21.81% of the net profit attributable to shareholders of RMB 34,009,430.81[102]. - The cash dividend for 2017 was RMB 24,720,000, accounting for 22.20% of the net profit attributable to shareholders of RMB 111,347,272.30[102]. - The company is in a growth phase with significant capital expenditure plans, requiring a minimum cash dividend proportion of 20% for profit distribution[99]. Market and Industry Risks - The company faces risks related to industry dependence, particularly from the sapphire and photovoltaic industries, which directly impact the demand for diamond wire[7]. - There is a risk of declining sales prices and gross margins due to increased competition and customer pressure to reduce material procurement costs[9]. - The company acknowledges the potential impact of changes in national industrial policies on its profitability and market position[8]. - The company will actively maintain relationships with key customers to mitigate risks associated with customer concentration in the sapphire processing and crystalline silicon manufacturing sectors[87]. Operational Strategies - The company plans to focus on the development of new products and technologies to enhance market competitiveness[19]. - Future expansion strategies include increasing market share in the photovoltaic sector and exploring potential mergers and acquisitions[19]. - The company aims to improve operational efficiency and reduce costs in response to market challenges[19]. - The company aims to maintain its leading position in technology and market share through continuous improvement and innovation in product performance and cost efficiency[41]. Research and Development - Research and development investment for 2018 was 15.47 million yuan, accounting for 4.69% of total revenue, with a total of 24 authorized patents[47]. - The company has established a personalized product service system, allowing for customized solutions based on client needs, with a rapid response mechanism requiring a 1-hour response to customer demands[42]. - The company has developed a quality inspection system that includes tensile testing, particle size analysis, and an online monitoring system, ensuring product quality and compliance with ISO9001:2008 and RoHS certifications[41]. - The company will increase R&D investment to achieve product technology upgrades, aiming to significantly reduce production costs and regain market competitiveness[83]. Environmental Compliance - The company faced a fine of ¥500,000 for environmental violations related to improper drainage systems[116]. - The company also incurred a fine of ¥400,000 for failing to complete necessary environmental protection facilities before production[116]. - The company has implemented a comprehensive shutdown of the Chengcheng workshop to address environmental issues and is actively working on rectification measures[117]. - The company has established an effective environmental risk management system and complies with national environmental laws and regulations[140]. Corporate Governance - The company has established a remuneration system linked to the execution of return measures for its directors and senior management[105]. - The company has a total of 10 major shareholders, with the top 10 shareholders holding significant stakes, including Beijing Qidi Huide Investment Co., which holds 3.91%[156]. - The company has committed to maintaining investor rights and will disclose any inability to fulfill commitments promptly[107]. - The company has established a sound internal management structure that operates independently from its controlling shareholders[194].

Financial Performance - Operating revenue for the reporting period was CNY 70,516,270.00, down 44.97% year-on-year[8] - Net profit attributable to shareholders was CNY 772,064.50, a decline of 97.55% compared to the same period last year[8] - Basic earnings per share were CNY 0.0100, a decrease of 98.04% year-on-year[8] - The weighted average return on net assets was 0.14%, down 10.80% from the previous year[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 885,635.74, down 97.19% year-on-year[8] - Total operating revenue for the third quarter was ¥70,516,270, a decrease of 44.9% compared to ¥128,143,858.26 in the same period last year[39] - Net profit for the quarter was ¥772,064.50, a significant decline of 97.5% from ¥31,517,286.34 in the previous year[41] - Earnings per share (EPS) for the quarter was ¥0.0100, compared to ¥0.5100 in the same quarter last year[42] - Total operating revenue for the current period is $277.52 million, a decrease of 4.1% from $291.48 million in the previous period[48] - Net profit for the current period is $48.91 million, down 28.6% from $68.46 million in the previous period[49] - Basic and diluted earnings per share are both $0.5900, down from $1.1077 in the previous period[50] Cash Flow and Investments - Cash flow from operating activities for the year-to-date was CNY 17,711,863.46, an increase of 33.76%[8] - The company reported a 33.76% increase in net cash flow from operating activities to ¥17.71 million, attributed to increased supplier payments using notes[21] - The company’s net cash flow from investing activities was -¥83.81 million, a 42.60% increase in cash outflow due to heightened investments in long-term assets[21] - The company’s net cash flow from financing activities decreased by 145.18% to -¥121.94 million, reflecting increased loan repayments[21] - The net cash flow from operating activities was ¥69,947,341.46, an increase from ¥13,243,195.70 in the previous period, reflecting improved operational efficiency[59] - The net cash flow from financing activities was -¥121,855,104.58, compared to ¥269,895,235.84 in the previous period, indicating a shift towards negative cash flow in financing[60] - The company received ¥42,426,025.47 in other cash related to operating activities, a significant increase from ¥1,769,781.37 in the previous period, indicating enhanced operational cash generation[59] Assets and Liabilities - Total assets at the end of the reporting period were CNY 966,469,303.93, a decrease of 2.71% compared to the end of the previous year[8] - Cash and cash equivalents decreased by 53.02% to ¥166.67 million due to increased investments and cash payments for long-term assets[20] - Accounts receivable notes decreased by 65.20% to ¥47.04 million as a result of maturity settlements and increased use of notes for supplier payments[20] - Inventory increased by 133.69% to ¥113.60 million due to expanded operations and increased raw material turnover[20] - Fixed assets rose by 35.26% to ¥294.28 million primarily due to the addition of machinery and equipment[20] - Total current assets decreased from ¥684,269,388.00 to ¥509,298,271.91, a decline of around 26%[32] - Total non-current assets increased from ¥309,144,418.67 to ¥457,171,032.02, an increase of about 48%[33] - Total liabilities increased by 45.01% to ¥98.49 million, primarily due to increased accounts payable for engineering equipment[20] - Total liabilities decreased from ¥460,118,450.80 to ¥408,987,607.93, a reduction of approximately 11%[34] - Total equity increased from ¥533,295,355.87 to ¥557,481,696.00, an increase of about 5%[34] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 12,689[12] - The largest shareholder, Duan Zhiming, held 23.34% of the shares, totaling 19,233,000 shares[12] - The company reported no significant changes in the number of restricted shares during the reporting period[14] - The company reported no violations regarding external guarantees or non-operating fund occupation by controlling shareholders[26][27] - The company has not issued any cash dividends during the reporting period[25] Research and Development - Research and development expenses were ¥3,685,006.10, down 25.3% from ¥4,932,771.73 year-on-year[39] - Research and development expenses for the current period are $11.74 million, down 11.3% from $13.24 million in the previous period[48] Other Financial Metrics - The company incurred interest expenses of ¥4,279,966.96, up from ¥3,526,015.21 in the previous year[39] - Tax expenses for the quarter were ¥749,457.08, down 86.5% from ¥5,561,606.37 in the same period last year[41] - Financial expenses increased to $12.92 million, up 30.6% from $9.89 million in the previous period[48] - Investment income showed a loss of $123.50 thousand, compared to a gain of $1.01 million in the previous period[48]

Industry Risks - The company reported a significant reliance on the sapphire and photovoltaic industries, which directly impacts the demand for diamond wire, highlighting potential risks due to policy changes in these sectors [5] - The company faces risks of declining sales prices and gross margins due to increased competition and customer negotiations aimed at reducing procurement costs [6] - High customer concentration poses a risk, as the company’s main clients are in the sapphire processing and silicon wafer manufacturing sectors, making it vulnerable to their operational challenges [7] - The company faces risks related to industry dependence, particularly from the sapphire and photovoltaic industries, which directly affect the demand for diamond wire [74] - The company is exposed to risks of declining sales prices and gross margins due to increased market competition and customer bargaining power [75] Financial Performance - Total revenue for the reporting period reached ¥206,999,649.15, an increase of 26.73% compared to ¥163,336,297.45 in the same period last year [26] - Net profit attributable to shareholders was ¥48,134,275.63, reflecting a growth of 30.31% from ¥36,937,991.12 year-on-year [26] - Net cash flow from operating activities surged to ¥39,064,062.07, a remarkable increase of 1,538.33% compared to ¥2,384,389.55 in the previous year [26] - Basic earnings per share decreased by 3.33% to ¥0.580 from ¥0.60 in the same period last year [26] - Total assets at the end of the reporting period amounted to ¥1,056,758,981.63, up 6.38% from ¥993,413,806.67 at the end of the previous year [26] - Net assets attributable to shareholders increased by 4.39% to ¥556,709,631.50 from ¥533,295,355.87 at the end of the previous year [26] - The weighted average return on equity was 8.77%, down 5.79% from 14.56% in the previous year [26] - The net profit after deducting non-recurring gains and losses was ¥48,409,644.06, a 36.40% increase from ¥35,490,783.25 year-on-year [26] Operational Efficiency - The complexity of diamond wire production processes necessitates stringent quality control, with potential risks of quality issues affecting market share and brand reputation [9] - Management risks are heightened due to rapid expansion and increased organizational complexity, necessitating effective talent management and operational adjustments [10] - The company has established a competitive advantage through technological innovation and quality, positioning itself as a leading domestic player capable of meeting mid-to-high-end market demands [8] - The company has implemented lean production management to enhance product quality and reduce costs, ensuring stable profitability [46] - The company has achieved ISO9001:2008 and RoHS certifications for its quality management system, ensuring compliance with international standards [77] Research and Development - The company has obtained 18 authorized invention patents and 3 utility model patents, showcasing its strong R&D capabilities [38] - Research and development investment amounted to CNY 8.05 million, representing 3.89% of operating revenue [46] - The company plans to increase R&D investment to enhance product competitiveness and mitigate risks from industry policies [75] - The company’s long-term investment in R&D has positioned it as a leading supplier in the diamond wire cutting industry, with a focus on environmental sustainability and cost efficiency [39] Customer Relations - The company has established a stable supplier relationship, with a dynamic list of qualified suppliers evaluated annually based on quality, delivery, price, and service [34] - The company’s production model is driven by customer orders, ensuring that production aligns with market demand [34] - The company established a rapid response mechanism for customer service, aiming for a 1-hour response time and a 3-day solution delivery [40] - The company maintains a focus on key customers to mitigate risks associated with customer concentration [76] Environmental Compliance - The company signed a long-term environmental management contract with Hunan Duojie Environmental Steward Technology Co., Ltd. for a service period from June 1, 2018, to May 31, 2021 [94] - The company reported a fine of 500,000 yuan for unauthorized drainage and a fine of 400,000 yuan for incomplete environmental protection facilities [93] - The company has established an effective environmental risk management system and is committed to ensuring compliance with environmental regulations [107] - The company’s wastewater discharge for chemical oxygen demand (COD) was 137 mg/L, and for ammonia nitrogen, it was 7.86 mg/L, both meeting the national discharge standards [107] Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares, indicating a focus on reinvestment [12] - The annual shareholders' meeting had a participation rate of 65.70% on March 22, 2018, while the first extraordinary shareholders' meeting had a participation rate of 70.26% on April 17, 2018 [80] - The actual controller and shareholders have made commitments regarding share transfer restrictions, which are being fulfilled as per the stipulated timelines [82] - The company is committed to maintaining a stable stock price and has outlined measures to be taken if the stock price falls below the net asset value per share [84] Accounting and Financial Policies - The company’s financial statements comply with the latest accounting standards issued by the Ministry of Finance [174] - The company’s management has implemented specific accounting policies for bad debt provisions, fixed asset depreciation, and revenue recognition [173] - The company prepares consolidated financial statements based on the financial statements of the parent and its subsidiaries, following relevant accounting standards [183] - The company recognizes impairment losses for held-for-sale assets when their carrying amount exceeds the fair value less costs to sell [197]

Financial Performance - Total revenue for Q1 2018 reached ¥143,381,448.64, an increase of 168.12% compared to ¥53,477,296.04 in the same period last year[8] - Net profit attributable to shareholders was ¥39,136,802.50, up 265.65% from ¥10,703,309.81 year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥39,271,301.26, reflecting a growth of 281.19% compared to ¥10,302,322.31 in the previous year[8] - The basic earnings per share increased to ¥0.47, a rise of 176.47% from ¥0.17 in the same period last year[8] - The company achieved operating revenue of CNY 143.38 million in Q1 2018, a year-on-year increase of 168.12% from CNY 53.48 million in the same period last year[19] - The net profit attributable to shareholders was CNY 39.14 million, representing a 265.65% increase compared to CNY 10.70 million in Q1 2017[19] - Operating profit for the current period was ¥46,222,616.58, up from ¥12,686,547.74, reflecting a growth of approximately 264.5%[43] - Total comprehensive income for the current period was ¥39,136,802.50, compared to ¥10,703,309.81 in the previous period, representing an increase of around 265.5%[44] Cash Flow - The net cash flow from operating activities was ¥8,975,655.28, representing an 84.01% increase from ¥4,877,715.34 year-on-year[8] - The net cash flow from operating activities for Q1 2018 was ¥12,330,310.89, an increase from ¥4,879,120.86 in the same period last year, representing a growth of approximately 152.3%[54] - Total cash inflow from operating activities was ¥86,356,240.13, compared to ¥54,041,106.33 in the previous year, indicating a year-over-year increase of about 60%[53] - The cash outflow from operating activities totaled ¥74,025,929.24, up from ¥49,161,985.47, reflecting a rise of approximately 50.5%[54] - The net cash flow from investing activities was -¥65,350,788.56, compared to -¥19,865,924.53 in the previous year, showing a significant increase in cash outflow[54] - Cash inflow from financing activities was ¥35,000,000.00, down from ¥58,400,000.00, a decrease of about 40% year-over-year[55] - The net cash flow from financing activities was ¥11,599,937.88, a decrease from ¥38,694,335.62 in the previous year, indicating a decline of approximately 70%[55] - The ending balance of cash and cash equivalents was ¥313,129,747.97, compared to ¥30,566,675.40 at the end of the previous year, showing a substantial increase[55] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,034,173,346.63, a 4.10% increase from ¥993,413,806.67 at the end of the previous year[8] - Net assets attributable to shareholders amounted to ¥547,712,158.37, up 2.70% from ¥533,295,355.87 at the end of the last year[8] - Total current assets decreased from CNY 684,269,388.00 to CNY 654,326,908.39, a decline of approximately 4.4%[34] - Accounts receivable increased from CNY 118,697,691.59 to CNY 129,428,712.39, representing an increase of about 8.2%[34] - Inventory rose significantly from CNY 48,609,995.80 to CNY 73,231,882.22, marking an increase of approximately 50.6%[34] - Total non-current assets increased from CNY 309,144,418.67 to CNY 379,846,438.24, reflecting a growth of about 22.8%[35] - Current liabilities increased from CNY 377,930,950.80 to CNY 427,092,438.26, a rise of about 12.9%[36] - Total liabilities rose from CNY 460,118,450.80 to CNY 486,461,188.26, indicating an increase of approximately 5.7%[36] - The company's equity attributable to shareholders increased from CNY 533,295,355.87 to CNY 547,712,158.37, a growth of about 2.7%[37] Risks and Challenges - The company faces risks related to industry dependence, particularly from the photovoltaic and sapphire industries, which directly affect market demand for diamond wire[10] - There is a risk of declining sales prices and gross margins due to increased competition in the diamond wire manufacturing industry[10] - The company has implemented quality management systems certified by ISO9001:2008 and RoHS, but still faces potential quality risks that could impact market share[10] Investments and Subsidiaries - The company established a wholly-owned subsidiary, Zhuzhou Daili New Materials Co., Ltd., registered on January 9, 2018[20] - The total amount of raised funds is CNY 186.65 million, with CNY 5.73 million invested in the current quarter[25] - Cumulative investment of raised funds reached CNY 188.48 million, with no changes in usage reported[25] - The company has implemented a plan to replace self-raised funds with raised funds amounting to CNY 164.39 million[26] Other Financial Information - The company distributed a cash dividend of CNY 3.00 per 10 shares, based on a total share capital of 82.4 million shares as of December 31, 2017[27] - There were no overdue commitments from controlling shareholders or related parties during the reporting period[23] - The company reported no significant adverse impacts from the changes in its top five customers[20] - There were no violations regarding external guarantees during the reporting period[28] - The company has not encountered any major changes in project feasibility or significant delays in expected benefits from investment projects[26] - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[30] - The company did not engage in any repurchase transactions during the reporting period[15] - The company reported a cash inflow of ¥56,000.00 from the disposal of fixed assets in Q1 2018[54] - The total cash outflow for investing activities was ¥65,406,788.56, significantly higher than the previous year's outflow of ¥19,865,924.53[54] - The company did not undergo an audit for the Q1 2018 report[56]

Financial Performance - The company's operating revenue for 2017 was CNY 435,454,577.92, representing a 134.82% increase compared to CNY 185,441,341.42 in 2016[22]. - The net profit attributable to shareholders for 2017 was CNY 111,347,272.30, up 183.33% from CNY 39,299,875.56 in 2016[22]. - The net profit after deducting non-recurring gains and losses was CNY 107,766,319.68, reflecting a 186.53% increase from CNY 37,610,256.96 in 2016[22]. - The basic earnings per share for 2017 was CNY 1.66, a 159.38% increase from CNY 0.64 in 2016[22]. - The total assets at the end of 2017 amounted to CNY 993,413,806.67, a 137.59% increase from CNY 418,120,985.10 at the end of 2016[22]. - The weighted average return on equity for 2017 was 32.98%, up from 18.22% in 2016, indicating improved profitability[22]. - The net cash flow from operating activities for 2017 was CNY 14,774,952.60, a 23.77% increase from CNY 11,937,628.38 in 2016[22]. - The company achieved a revenue of CNY 435.45 million, representing a year-on-year growth of 134.82%[44]. - The net profit for 2017 was CNY 111.35 million, with a year-on-year increase of 183.33%[44]. Accounts Receivable and Cash Flow - As of December 31, 2017, accounts receivable amounted to 128.96 million yuan, an increase of 14.58% compared to the previous year[7]. - The company has implemented measures to manage accounts receivable, but remains exposed to risks if major clients face operational difficulties due to economic changes[7]. - The company's accounts receivable increased by 367.29%, reflecting the growth in sales revenue[35]. - Accounts receivable grew by 13.43% to CNY 118,697,691.5, accounting for 11.95% of total assets, driven by a 134.82% year-over-year increase in revenue[66]. - The company assessed the recoverability of accounts receivable based on customer industry reputation and ongoing business relationships[194]. - Management's estimates for accounts receivable recovery involve significant accounting judgments, making it a key audit matter[194]. Dividend Policy - The company plans to distribute a cash dividend of 3.00 yuan per 10 shares (including tax) based on a total of 82.4 million shares[9]. - The company implements a stable profit distribution policy, prioritizing cash dividends, with a minimum cash dividend ratio of 80% for mature stages without major capital expenditures[89]. - In the event of significant capital expenditures, the minimum cash dividend ratio is set at 40% for mature stages and 20% for growth stages[89]. - A cash dividend of RMB 3 per 10 shares was proposed, totaling RMB 24,720,000, which represents 22.20% of the net profit attributable to ordinary shareholders[97]. - The cash dividend payout ratio for 2017 was 100% of the total distributable profit, marking a significant increase from 0% in the previous two years[96][97]. - The company has committed to maintaining a minimum cash dividend payout ratio of 20% in future profit distributions[96]. Risks and Challenges - The company faces risks related to industry dependence, particularly from the sapphire and photovoltaic sectors, which directly impact market demand for diamond wire[6]. - Future industry policy changes could adversely affect the company's profitability if the sapphire and photovoltaic industries decline[6]. - The competitive landscape in the diamond wire manufacturing industry is intensifying, leading to potential price declines and margin pressures[6]. - The complexity of diamond wire production technology poses quality risks, as it requires high technical proficiency from workers[7]. - The company is exposed to potential declines in sales prices and gross margins due to increased competition in the diamond wire manufacturing industry[82]. Research and Development - Research and development investment reached CNY 18.65 million, accounting for 4.28% of total revenue, a 50.46% increase compared to the previous year[45]. - The company has achieved ISO9001:2008 and RoHS certifications for its quality management system, but quality issues could still impact market share[7]. - The company has developed a customized production model based on customer orders, enhancing production efficiency[32]. - The company upgraded its silicon cutting diamond wire products from 80 um to 65 um, and successfully developed 60 um and 55 um products, enhancing market competitiveness[45]. - The company plans to file for more than 10 invention patents in 2018 to strengthen its technology research and development efforts[80]. - The company is focused on technological breakthroughs in ultra-fine diamond wire for silicon slicing and large-size sapphire cutting, among others[79]. Corporate Governance - The company has improved its corporate governance structure and internal control system to enhance shareholder rights and information disclosure[126]. - The independent directors provided professional opinions on strategic development, internal control, and major business decisions, contributing to the company's governance and management improvement[180]. - The company has established a mechanism for evaluating and incentivizing senior management, ensuring compliance with laws and regulations[183]. - The company maintained a high level of attendance and participation in governance activities, reflecting strong management oversight[179]. - The independent director, He Jinri, serves as the chair of the audit committee, indicating a strong governance structure[155]. Market Position and Growth - The company's diamond wire cutting technology is rapidly replacing traditional cutting methods, leading to explosive growth in market demand for diamond wire products[32]. - The company's revenue from diamond wire products has significantly increased due to the full transition of the photovoltaic polysilicon industry to diamond wire cutting technology[32]. - The company achieved a production capacity of 1.2 billion meters of diamond wire in 2017, with a completion rate of 97.91%[74]. - The sales volume of diamond wire increased significantly to 236,806.78 thousand meters in 2017, a 215.57% increase compared to 2016[54]. - The production volume of diamond wire reached 243,141.3 thousand meters in 2017, reflecting a 204.47% increase year-over-year[54]. Financial Structure and Assets - The total equity attributable to shareholders at the end of 2017 was CNY 533,295,355.87, a 126.64% increase from CNY 235,300,308.29 at the end of 2016[22]. - The company's cash and cash equivalents grew by 5034.43%, primarily due to financing and sales collections[35]. - The company's fixed assets remained stable, while intangible assets increased by 155.49% due to the addition of land use rights[35]. - The company has a complete asset structure and does not provide guarantees for the debts of shareholders or related parties, ensuring the protection of its interests[172]. - The company has established an independent internal management structure, with distinct operational spaces from its controlling shareholder[175]. Shareholder Information - The company has a total share capital of 82,400,000 shares as of December 31, 2017[96]. - The largest shareholder, Duan Zhiming, holds 23.34% of the shares, amounting to 19,233,000 shares[142]. - The second-largest shareholder, Yang Huihuang, owns 14.06% of the shares, totaling 11,586,000 shares[142]. - The company has a total of 13,149 shareholders as of the end of the reporting period[142]. - The company did not experience any changes in its controlling shareholders during the reporting period[145].

2017 年第三季度报告 2017 年 10 月 1 长沙岱勒新材料科技股份有限公司 2017 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人段志明、主管会计工作负责人周家华及会计机构负责人(会计主 管人员)陈冬梅声明：保证季度报告中财务报表的真实、准确、完整。 长沙岱勒新材料科技股份有限公司 2017 年第三季度报告全文 长沙岱勒新材料科技股份有限公司 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 773,297,694.93 | 418,120,985.10 | | 84.95% | | 归属于上市公司股东的净资产 | 490,403,361.03 | 235,300,308.29 | | 108.42% | | ...