证券代码：300715 证券简称：凯伦股份 公告编号:2023-020 江苏凯伦建材股份有限公司 关于举行 2022 年度业绩网上说明会的公告 | 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，不存在 | | --- | | 虚假记载、误导性陈述或重大遗漏。 | 江苏凯伦建材股份有限公司（以下简称"公司"）2022 年年度报告全文及 其摘要已于 2023 年 4 月 28 日刊登于中国证监会指定信息披露网站巨潮资讯网 （www.cninfo.com.cn）。为便于广大投资者更深入全面地了解公司情况，公司定 于 2023 年 5 月 12 日（星期五）下午 15：00-17：00 在全景网举行 2022 年度业 绩网上说明会，本次年度业绩说明会将采用网络远程方式举行，投资者可登录全 景网"投资者关系互动平台"（http://ir.p5w.net）参与本次年度业绩说明会。 出席本次说明会的人员有：公司董事长钱林弟先生、董事会秘书霍巨先生、 财务负责人季歆宇先生、独立董事殷俊明先生、保荐代表人陈杰先生。 为充分尊重投资者、提升交流的针对性，现就公司 2022 年度业绩说明会前 向投资者公开征集问题，广泛 ...

证券代码：300715 证券简称：凯伦股份 江苏凯伦建材股份有限公司投资者关系活动记录表 编号：2021-001 | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------|-------------------------------------------------------------|-------|----------------|------------------------------------------------------------------------------|-----------------|----------------------------------|-------|-------| | 投资者关系活动 \n类别 | ☑ \n□媒体采访 \n□新闻发布会 □路演活动 \n□现场参观 \n□其他 | | （ ） | 特定对象调研 □分析师会议 \n□业绩说明会 | | | | | | | 安信基金 郑婉玲 齐家资产 | | | | 牛建斌 | 第一创业 柴熙 ...

证券代码：300715 证券简称：凯伦股份 江苏凯伦建材股份有限公司投资者关系活动记录表 编号：2022-001 | --- | --- | --- | |--------------------------|---------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------| | 投资者关系活动 \n类别 | ☑ \n□媒体采访 \n□新闻发布会 □路演活动 \n□现场参观 \n□其他 （ ） | 特定对象调研 □分析师会议 \n□业绩说明会 | | 参与单位名称 及人员姓名 | 券、中加基金、旭鑫资本、相聚资本 | 嘉实基金、瑞信证券、钧富投资、宁本咨询、瑞银证券、益昶资产、朝景投资、国海证 | | | | | | 时间 2 ...

Revenue and Profitability - Revenue for Q3 2022 was CNY 611,848,885.78, a decrease of 12.93% compared to the same period last year[5] - Net profit attributable to shareholders was CNY 867,621.10, down 97.83% year-on-year[5] - Net profit excluding non-recurring items was CNY -25,684,450.70, a decline of 196.38% compared to the previous year[5] - Total operating revenue for the current period is CNY 1,532,921,970.69, a decrease of 20.2% compared to CNY 1,921,972,737.10 in the previous period[18] - Net profit for the current period is CNY 21,416,902.75, a significant decline of 88.0% from CNY 178,218,339.79 in the previous period[19] - Earnings per share (EPS) for the current period is CNY 0.06, compared to CNY 0.53 in the previous period, reflecting a decrease of 88.7%[21] - The total comprehensive income for the current period is CNY 21,416,902.75, down 88.0% from CNY 178,218,339.79 in the previous period[21] Assets and Liabilities - Total assets increased to CNY 6,206,285,447.80, representing a growth of 10.28% from the end of the previous year[5] - The company's total assets as of September 30, 2022, amount to ¥6,206,285,447.80, an increase from ¥5,627,991,216.84 at the beginning of the year[14] - Current assets total ¥4,457,848,571.36, up from ¥4,328,355,648.38 at the start of the year[15] - The total liabilities amount to ¥3,655,571,651.13, up from ¥2,810,714,647.73[16] - The total liabilities and equity amount to CNY 6,206,285,447.80, an increase from CNY 5,627,991,216.84 in the previous period[20] Cash Flow - Cash flow from operating activities was CNY -406,466,964.73, showing an improvement of 11.66% year-on-year[10] - Cash inflow from operating activities is CNY 1,518,961,216.72, an increase of 33.6% from CNY 1,136,870,220.09 in the previous period[23] - The net cash flow from operating activities was -406,466,964.73 CNY, an improvement from -460,137,515.45 CNY in the previous year[24] - Total cash outflow from investing activities was 368,265,589.50 CNY, compared to 750,970,358.93 CNY in the same period last year[24] - The net cash flow from investing activities was -347,981,844.44 CNY, an improvement from -746,194,527.97 CNY year-over-year[24] - The company's net cash flow from financing activities decreased by 68.65% to CNY 593,876,807.06 compared to the same period last year[10] - The total cash and cash equivalents at the end of the period were 177,734,544.81 CNY, significantly lower than 1,143,183,274.90 CNY at the end of the previous year[25] Shareholder Information - Total number of common shareholders at the end of the reporting period is 12,272[11] - The largest shareholder, Karen Holdings Investment Co., Ltd., holds 43.68% of shares, totaling 168,118,419 shares[11] Investments and Expenses - The company reported a significant increase in construction in progress, which reached CNY 377,359,793.04, up 172.38%[9] - Research and development expenses for the current period amount to CNY 87,775,264.26, a decrease of 10.2% from CNY 97,746,054.71 in the previous period[18] - The company's retained earnings decreased to CNY 253,576,289.96 from CNY 458,836,122.41 in the previous period, indicating a decline of 44.7%[20] - The company reported a financial expense of CNY 1,021,612.70, significantly lower than CNY 38,463,161.66 in the previous period, showing a decrease of 97.3%[18] Borrowings - Short-term borrowings rose to CNY 1,403,784,980.38, an increase of 101.82% due to operational needs[9] - The company received 2,030,500,000.00 CNY in borrowings during the quarter, compared to 1,704,953,044.44 CNY in the previous year[24]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥921,073,084.91, a decrease of 24.46% compared to ¥1,219,269,748.35 in the same period last year[25]. - The net profit attributable to shareholders of the listed company was ¥21,517,531.25, down 84.48% from ¥138,607,055.79 in the previous year[25]. - The net profit after deducting non-recurring gains and losses was ¥32,760,939.61, a decrease of 72.91% compared to ¥120,940,750.95 in the same period last year[25]. - The basic earnings per share decreased by 86.36% to ¥0.06 from ¥0.44 in the previous year[25]. - The gross margin for waterproof materials sales was 24.76%, down 10.42% year-on-year, with sales revenue decreasing by 26.96%[47]. - The company achieved operating revenue of CNY 921.07 million, a decrease of 24.46% compared to the same period last year, primarily due to a reduction in sales orders[41]. - Net profit attributable to shareholders was CNY 21.52 million, down 84.48% year-on-year, largely impacted by rising raw material costs and accelerated stock incentive plan execution[41]. - The net profit for the first half of 2022 was CNY 20,611,499.05, a significant decline of 85.2% from CNY 138,606,948.97 in the previous year[163]. - The total revenue for the first half of 2022 was reported at 1.4 billion, representing a year-on-year increase of 7%[179]. - The net profit attributable to shareholders for the same period was 646 million, which is a 5% increase compared to the previous year[180]. Assets and Liabilities - The total assets at the end of the reporting period were ¥6,213,446,050.25, an increase of 10.40% from ¥5,627,991,216.84 at the end of the previous year[25]. - The net assets attributable to shareholders of the listed company were ¥2,562,395,135.32, down 8.97% from ¥2,814,946,407.98 at the end of the previous year[25]. - Cash and cash equivalents increased to ¥1,754,066,785.48, representing 28.23% of total assets, up from 27.21% in the previous period[52]. - Accounts receivable decreased to ¥1,723,812,331.54, accounting for 27.74% of total assets, down from 29.87%[52]. - Total liabilities rose to CNY 3,649,626,786.00 as of June 30, 2022, compared to CNY 2,810,714,647.73 at the beginning of the year, indicating an increase of about 29.7%[157]. - Short-term borrowings rose significantly to ¥1,414,476,980.38, which is 22.76% of total liabilities, compared to 12.36% previously, reflecting a 10.40% increase[52]. - Long-term borrowings increased to ¥932,092,118.40, now 15.00% of total liabilities, up from 10.74%, marking a 4.26% rise[52]. - The total equity decreased to CNY 2,530,698,994.64 from CNY 2,810,140,097.62, indicating a decline of 9.9%[163]. Cash Flow - The net cash flow from operating activities improved by 11.15%, reaching -¥328,791,867.73 compared to -¥370,048,952.63 in the previous year[25]. - Cash flow from operating activities improved by 11.15% year-on-year, primarily due to an increase in accounts receivable recovery[46]. - The net cash flow from investment activities was -150,561,797.72 CNY, a decrease from -506,150,159.28 CNY in the previous period, indicating improved cash management[173]. - The total cash inflow from financing activities was 1,602,500,000.00 CNY, compared to 2,784,888,665.28 CNY in the same period last year[171]. - The cash outflow for debt repayment was 429,000,000.00 CNY, compared to 530,263,860.00 CNY in the previous period, indicating a reduction in debt servicing[173]. Research and Development - Research and development investment has increased over the years, with amounts of CNY 50.33 million, CNY 105.92 million, CNY 138.78 million, and CNY 50.17 million for 2019, 2020, 2021, and the first half of 2022 respectively, representing a growing percentage of revenue[37]. - Research and development expenses for the first half of 2022 were CNY 50,166,826.71, down 13.2% from CNY 57,719,246.78 in the previous year[163]. - The company is focusing on new product development in waterproof materials, with a significant investment in R&D[56]. Market and Competition - The waterproof materials market is experiencing consolidation, with increasing competition among large enterprises and a trend towards the elimination of outdated production capacities[34]. - The company is focusing on high polymer waterproof materials, with a strategic shift towards differentiated products to avoid price competition in the traditional market[42]. - The competitive landscape in the waterproof materials market is intensifying, with numerous players leading to price competition and pressure on profit margins[76]. - The company plans to reduce reliance on real estate clients and expand into non-real estate sectors, aiming to increase the share of non-real estate business[74]. Strategic Initiatives - The company plans to expand its dealer network from over 700 to 3,000 in the next three years, aiming for a more balanced sales channel and diversified customer base[39]. - The company has established strategic partnerships with several key players in the photovoltaic industry, aiming to expand into the renewable energy sector[33]. - The company aims to integrate photovoltaic technology with waterproofing solutions, launching innovative products like the "Galaxy Lightweight Photovoltaic Building Materials"[41]. - The company is actively constructing new production bases in Guangxi and Jiangsu to enhance its production capacity and market reach[39]. Shareholder and Governance - The company plans to maintain investor confidence and promote long-term healthy development through share repurchase[137]. - The controlling shareholder has committed to not selling any shares for six months following the completion of the issuance[107]. - The company has a lock-up period of 36 months for shares acquired through the issuance[106]. - The company has not distributed cash dividends or bonus shares for the half-year period[82]. Environmental and Social Responsibility - The company strictly complies with various environmental protection laws and regulations, with no penalties reported during the reporting period[95]. - The company has implemented a waste gas treatment system achieving over 90% collection and VOCs treatment rates[100]. - The company actively engages in social responsibility, creating value for shareholders while supporting employees and the community[102]. - The company has invested in energy-saving technologies to reduce carbon emissions and improve production efficiency[101].

Financial Performance - The company's operating revenue for 2021 was ¥2,585,783,925.51, representing a 28.80% increase compared to ¥2,007,646,596.20 in 2020[30]. - The net profit attributable to shareholders for 2021 was ¥71,923,477.59, a decrease of 74.18% from ¥278,551,614.56 in 2020[30]. - The net cash flow from operating activities was -¥383,841,670.19, worsening by 244.73% compared to -¥111,344,963.33 in 2020[30]. - The total assets at the end of 2021 amounted to ¥5,627,991,216.84, a 61.79% increase from ¥3,478,576,453.06 at the end of 2020[30]. - The net assets attributable to shareholders increased by 110.63% to ¥2,814,946,407.98 at the end of 2021, up from ¥1,336,449,161.28 at the end of 2020[30]. - The basic earnings per share for 2021 was ¥0.20, down 78.02% from ¥0.91 in 2020[30]. - The diluted earnings per share also stood at ¥0.20, reflecting the same decline of 78.02% compared to the previous year[30]. - The weighted average return on net assets decreased to 3.30% in 2021 from 23.36% in 2020, a drop of 20.06%[30]. - The company reported a significant decline in net profit after deducting non-recurring gains and losses, which was ¥30,325,113.85 in 2021, down 88.31% from ¥259,446,006.48 in 2020[30]. Revenue Sources and Market Position - Sales of waterproof materials accounted for 92.74% of total revenue, amounting to ¥2,397,935,031.69, with a year-on-year growth of 22.48%[56]. - The waterproof engineering construction segment saw a significant increase of 270.10%, generating ¥180,354,484.97 in revenue[56]. - Domestic sales contributed 97.38% of total revenue, while international sales grew by 117.99% to ¥67,688,934.53[56]. - The company aims to reduce reliance on real estate clients and expand into non-real estate sectors, aiming to increase the proportion of non-real estate business[14]. - The company is focusing on high polymer waterproof materials, which have shown rapid growth in sales volume and brand recognition[53]. Research and Development - Research and development investment increased from 50.33 million yuan in 2019 to 138.78 million yuan in 2021, accounting for 4.32%, 5.28%, and 5.37% of operating revenue respectively[50]. - The company has launched a new photovoltaic roof system designed to last 25 years, integrating waterproofing with solar energy solutions[54]. - The company is developing a new high-weather TPO composite metal roofing product, which aims to enhance durability and meet stringent environmental requirements[67]. - The company has completed the development of the MPU-Pro anti-flow polyurethane coating, which is expected to lead the market in innovation and efficiency[67]. - The company aims to enhance its competitive edge through continuous innovation and expansion into new application scenarios for polymer waterproof materials[54]. Strategic Partnerships and Investments - The company has established long-term strategic partnerships with leading real estate developers such as Vanke and Poly, aiming to expand the number of quality real estate clients significantly[51]. - The company has invested 1.5 billion yuan in a high polymer industrial park in Suzhou, with a designed capacity of 10 million square meters, which is now in formal production[51]. - The company is actively pursuing a dual-driven strategy of centralized procurement and channel expansion to optimize revenue structure[53]. - The company is focusing on expanding its market presence through strategic investments in construction materials and technology development[80]. Governance and Compliance - The company is committed to improving its governance structure and ensuring independent operations from its controlling shareholder[107]. - The company has established a board of directors consisting of 7 members, including 3 independent directors, complying with legal and regulatory requirements[108]. - The company maintains independence in assets, personnel, finance, and operations, ensuring no reliance on the controlling shareholder for production or financial support[110]. - The company has a complete and independent human resources management system, ensuring no overlap with the controlling shareholder's enterprises[110]. - The company has not reported any penalties from securities regulatory agencies for its directors, supervisors, or senior management in the past three years[130]. Environmental Responsibility - The company complied with all relevant environmental protection laws and regulations, with no penalties incurred during the reporting period[170]. - The company reported total emissions of pollutants within the limits set by national standards, with no exceedances noted[171]. - The company has implemented strict environmental protection measures and has obtained necessary permits for pollutant discharge[170]. - The company has committed to reducing carbon emissions by promoting advanced energy-saving technologies and improving industrial automation[174]. Future Outlook - The company aims to become an internationally leading manufacturer of functional building materials, focusing on innovative waterproof systems and maintaining a strong competitive edge in the market[9]. - The company plans to strictly control accounts receivable risks, improve cash flow, and enhance overall operational quality in 2022[99]. - The company has set a revenue target of 25 billion for 2022, representing a projected growth of 15%[116]. - The company is exploring potential mergers and acquisitions to enhance its supply chain efficiency, with a budget allocation of 500 million for this purpose[116].

Financial Performance - The company's revenue for Q1 2022 was ¥325,602,548.36, a decrease of 26.85% compared to ¥445,138,267.07 in the same period last year[3] - Net profit attributable to shareholders was ¥8,586,259.32, down 84.14% from ¥54,154,880.98 year-on-year[3] - Operating profit decreased significantly to ¥11,638,131.36, a decline of 83.9% compared to ¥72,162,178.31 in the previous period[23] - Net profit for the current period is ¥7,840,202.57, a decrease of 85.5% from ¥54,154,880.98 in the previous period[24] - Basic earnings per share for the current period is ¥0.02, down from ¥0.18 in the previous period[24] Cash Flow - The net cash flow from operating activities was -¥211,055,777.87, an improvement of 14.65% compared to -¥247,271,452.28 in the previous year[3] - Cash flow from operating activities shows a net outflow of ¥211,055,777.87, improving from a net outflow of ¥247,271,452.28 in the previous period[27] - The net cash flow from investing activities improved by 69.08% to -¥91,580,278.34, compared to -¥296,153,406.14 in the previous year[11] - The company experienced a net cash inflow from financing activities of ¥512,264,098.95, compared to ¥327,438,473.29 in the previous period[28] Assets and Liabilities - Total assets increased by 8.57% to ¥6,110,541,018.83 from ¥5,627,991,216.84 at the end of the previous year[3] - Total liabilities rose to RMB 3,341,974,726.93 from RMB 2,810,714,647.73, indicating an increase of approximately 18.8%[20] - The total equity attributable to shareholders decreased to RMB 2,766,372,348.65 from RMB 2,814,946,407.98, a decline of approximately 1.7%[20] - The company's cash and cash equivalents increased to RMB 1,813,769,571.01 from RMB 1,531,619,712.91, representing a growth of about 18.4%[18] Borrowings and Financing - Short-term borrowings rose by 51.49% to ¥1,053,717,560.01, reflecting the need for short-term financing[8] - The company's short-term borrowings increased significantly to RMB 1,053,717,560.01 from RMB 695,550,160.01, marking a rise of about 51.5%[19] Expenses - The company’s management expenses increased by 43.30% to ¥28,283,873.56, attributed to higher employee compensation and operational costs[9] - Research and development expenses rose to ¥19,060,043.19, an increase of 10.4% from ¥17,165,718.86 in the previous period[22] Inventory and Receivables - The inventory increased to RMB 255,396,221.66 from RMB 228,692,735.19, reflecting a growth of approximately 11.6%[18] - The accounts receivable decreased to RMB 1,572,402,862.15 from RMB 1,680,850,059.37, a decline of about 6.4%[18] Share Repurchase - The company repurchased 4,265,320 shares, accounting for about 1.0939% of the total share capital, with a total expenditure of up to RMB 20 million[14] - The company terminated the 2021 restricted stock incentive plan and repurchased 4,767,600 shares, which were previously granted but not yet released from restrictions[15] - The company plans to use its own funds for share repurchase to enhance investor confidence and promote long-term healthy development[14] Other Financial Metrics - The weighted average return on equity decreased to 0.31% from 3.97% year-on-year[3] - The company reported a significant increase in interest income to ¥11,888,111.94 from ¥667,299.22 in the previous period[23] - Total operating costs for the current period are ¥330,034,535.36, down 11.8% from ¥374,002,034.41 in the previous period[22] - Total operating revenue for the current period is ¥325,602,548.36, a decrease of 26.9% from ¥445,138,267.07 in the previous period[22]

Revenue and Profitability - The company's revenue for Q3 2021 reached ¥702,702,988.74, representing a 33.02% increase year-over-year, while the year-to-date revenue was ¥1,921,972,737.10, up 48.04% compared to the same period last year[4] - Net profit attributable to shareholders decreased by 51.45% in Q3 2021 to ¥39,978,461.05, with a year-to-date net profit of ¥178,585,516.84, reflecting a 3.96% increase year-over-year[4] - Total operating revenue for Q3 2021 reached CNY 1,921,972,737.10, an increase of 48.0% compared to CNY 1,298,262,896.47 in the same period last year[22] - Net profit for Q3 2021 was CNY 178,218,339.79, representing a 3.0% increase from CNY 171,789,390.85 in the previous year[24] - Earnings per share (EPS) for Q3 2021 were CNY 0.53, down from CNY 1.01 in the same quarter last year[25] Assets and Liabilities - The company's total assets increased by 68.57% to ¥5,863,828,932.26 compared to the end of the previous year, while equity attributable to shareholders rose by 118.43% to ¥2,919,219,811.79[5] - The company's total liabilities reached CNY 2,942,036,297.52, an increase from CNY 2,142,127,291.78 year-on-year[22] - As of September 30, 2021, total current assets amounted to 4,788,887,973.30 RMB, up from 2,553,545,529.18 RMB at the end of 2020[20] - The total assets of the company reached CNY 5,863,828,932.26, compared to CNY 3,478,576,453.06 in the previous year, indicating significant growth[22] Cash Flow - Cash flow from operating activities showed a negative net amount of ¥460,137,515.45 year-to-date, a decline of 16.56% compared to the previous year[4] - The net cash flow from operating activities for the year-to-date period was -460,137,515.45 RMB, a decrease of 16.56% compared to the same period last year, primarily due to rising raw material prices and overdue commercial acceptance bills from Evergrande[13] - The net cash flow from investing activities was -746,194,527.97 RMB, reflecting a 33.15% increase year-over-year, mainly due to increased payments for engineering equipment and performance guarantees[13] - The net cash flow from financing activities surged to 1,894,324,867.08 RMB, a significant increase of 507.40% compared to the previous year, primarily due to stock issuance to specific investors and equity incentives[13] - The ending balance of cash and cash equivalents was 1,143,183,274.90 CNY, up from 123,913,468.10 CNY in the previous year, marking an increase of about 820.5%[28] Operating Costs and Expenses - The company experienced an 80.89% increase in operating costs, totaling ¥1,330,200,977.50, primarily due to higher sales volume and rising raw material prices[12] - Total operating costs amounted to CNY 1,690,714,185.99, up 62.0% from CNY 1,044,505,392.17 year-on-year[22] - Research and development expenses for the year-to-date period reached ¥97,746,054.71, marking a 53.11% increase compared to the previous year, indicating a focus on innovation[12] - Research and development expenses for Q3 2021 were CNY 97,746,054.71, compared to CNY 63,842,191.49 in the same period last year, indicating a focus on innovation[22] - The company reported a decrease in sales expenses to CNY 128,362,535.10 from CNY 161,688,564.76 year-on-year, reflecting improved cost management[22] Accounts Receivable and Customer Relations - The company reported a significant increase in accounts receivable, which rose by 82.10% to ¥1,572,179,051.85, attributed to increased market expansion and marketing efforts[9] - Accounts receivable increased to 1,572,179,051.85 RMB from 863,348,635.25 RMB year-over-year, indicating a substantial rise in credit extended to customers[20] - The company reported overdue commercial acceptance bills totaling 14,909.72 million RMB, with a total receivable balance from Evergrande Group and its affiliates amounting to 188.32 million RMB[17] - The company has halted supply to Evergrande Group since June 2021 due to payment issues, indicating a strategic shift in customer relations[17] Shareholder Information - The top shareholder, Karen Holdings Investment Co., Ltd., holds 43.09% of the shares, with significant portions of shares pledged[15] - The company has a total of 14,008 common shareholders as of the report date[15] Miscellaneous - The third-quarter report was not audited, which may affect the reliability of the financial data presented[30] - The company did not require adjustments to the initial balance sheet items due to the new leasing standards, as it does not engage in leasing-related business[29] - The company experienced a negative impact of -748,533.54 CNY from exchange rate fluctuations on cash and cash equivalents[27]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥1,219,269,748.35, representing a 58.35% increase compared to ¥770,002,469.10 in the same period last year[24] - The net profit attributable to shareholders was ¥138,607,055.79, up 54.97% from ¥89,440,973.13 in the previous year[24] - The net profit after deducting non-recurring gains and losses was ¥120,940,750.95, which is a 41.22% increase from ¥85,639,642.84 year-on-year[24] - The total assets at the end of the reporting period reached ¥5,707,562,931.92, a 64.08% increase from ¥3,478,576,453.06 at the end of the previous year[24] - The net assets attributable to shareholders increased by 114.48% to ¥2,866,364,581.37 from ¥1,336,449,161.28 at the end of the previous year[24] - The basic earnings per share decreased by 16.98% to ¥0.44 from ¥0.53 in the same period last year[24] - The diluted earnings per share also fell by 18.87% to ¥0.43 from ¥0.53 year-on-year[24] - The net cash flow from operating activities was negative at -¥370,048,952.63, worsening from -¥268,881,151.02 in the previous year, a decline of 37.63%[24] - The weighted average return on equity increased to 8.64%, up from 7.75% in the previous year, an increase of 0.89%[24] Research and Development - Research and development investment for the first half of 2021 reached ¥5,771.92 million, a year-on-year increase of 70.77%, accounting for 4.73% of total revenue[37] - The company is focusing on high polymer waterproof materials, leveraging imported production lines to enhance its competitive edge in MBP, TPO, and PVC applications[33] - The company aims to enhance its market position by focusing on innovation in waterproof systems and expanding applications in various construction sectors[33] - The company has initiated research and development for new technologies aimed at improving production efficiency and product quality[181] - The company is focusing on technological advancements and innovation in its product offerings to enhance competitiveness[187] Market Expansion and Strategy - The company has established long-term strategic partnerships with approximately 50 leading real estate companies, with plans to expand the number of distributors from 600 to 1,500 in the next three years[39] - The company plans to enhance its market expansion strategies and invest in new product development to drive future growth[181] - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its product offerings[181] - The company has allocated resources for potential mergers and acquisitions to strengthen its market position[187] Environmental Compliance - The company has achieved a waste gas treatment efficiency with a collection rate and VOCs treatment rate exceeding 90%[99] - Solid waste is disposed of by qualified third parties, with hazardous waste being classified and stored properly[99] - The company has established an emergency response plan for environmental incidents, with a dedicated rescue command organization[100] - The company has complied with all relevant environmental protection laws and has not faced any administrative penalties from environmental authorities[100] - The company has timely paid the environmental protection tax as per legal requirements[100] - No significant environmental accidents have occurred during the reporting period[100] - The company has implemented an environmental monitoring plan, conducting quarterly assessments by qualified third-party institutions[100] - The company has invested in automatic monitoring devices for wastewater treatment to ensure compliance with discharge standards[100] Financial Position and Liabilities - The total liabilities amounted to CNY 2,838,258,457.37, an increase from CNY 2,142,127,291.78 at the end of 2020, representing a rise of about 32.5%[157] - The company's total assets reached CNY 5,707,562,931.92, compared to CNY 3,478,576,453.06 at the end of 2020, marking an increase of approximately 64.0%[158] - Short-term borrowings increased to CNY 991,192,568.55 from CNY 687,811,256.14, reflecting a rise of approximately 44.3%[157] - The company’s long-term borrowings rose to CNY 523,545,868.89 from CNY 209,783,307.55, indicating an increase of approximately 149.0%[157] - The total liabilities at the end of the reporting period were 1,880 million yuan, which is an increase from 1,807 million yuan at the end of the previous year[182] Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[6] - The company completed a share repurchase and cancellation of restricted stock on February 23, 2021[130] - A cash dividend of CNY 6.00 per 10 shares was distributed, along with a capital reserve conversion of 8 shares for every 10 shares held, increasing total shares to 307,353,600[130] - The total number of shares increased from 170,907,500 to 390,156,028 due to the completion of the 2018 restricted stock incentive plan and the issuance of new shares[133] - The company’s shareholders' meeting approved the profit distribution plan for the year 2020 on April 20, 2021[133] Legal and Compliance Issues - A patent infringement lawsuit could potentially impact profits significantly, with claims amounting to CNY 70 million[81] - The company is involved in a patent litigation case with a disputed amount of 70 million yuan, which is still pending[110] - The company has alternative production methods to mitigate risks associated with potential legal outcomes[82] Operational Challenges - The company faces risks from macro policies affecting the real estate sector, which is a major source of revenue, and plans to diversify its income sources[77] - Raw material costs, which account for approximately 90% of the main business costs, have increased, prompting the company to enhance procurement strategies[78] - Accounts receivable are on the rise due to expanded sales, with a focus on maintaining relationships with high-credit clients[79] - The company is addressing intensified industry competition by enhancing R&D and optimizing product offerings[80]