Financial Performance - The company's operating revenue for 2018 was CNY 619,307,792.59, representing a 57.09% increase compared to CNY 394,228,044.92 in 2017[21]. - The net profit attributable to shareholders for 2018 was CNY 65,102,837.70, a 46.07% increase from CNY 44,570,202.67 in 2017[21]. - The total operating cost for 2018 was 550.73 million yuan, reflecting a year-on-year increase of 60.62%[42]. - The company's basic earnings per share for 2018 was CNY 0.50, up 16.28% from CNY 0.43 in 2017[21]. - The net profit margin for 2018 was 10.10%, down from 32.31% in 2017[102]. - The company reported a net profit of RMB 67,572,476.35 for the year 2018, after deducting the legal surplus reserve[98]. - The gross profit margin for waterproof material sales was 37.12%, slightly down from 37.81% in the previous year[49]. Cash Flow and Assets - The net cash flow from operating activities was negative CNY 24,100,939.19, a significant decrease of 3,492.47% compared to CNY 710,424.26 in 2017[21]. - The total assets at the end of 2018 amounted to CNY 909,866,760.86, reflecting a 36.69% increase from CNY 665,637,750.68 at the end of 2017[21]. - The company's cash flow from operating activities decreased by 3,492.47% year-on-year, primarily due to increased accounts receivable and employee compensation expenses[44]. - The cash and cash equivalents decreased by ¥8,591,504.35, marking a 104.05% decline year-on-year[62]. - Accounts receivable increased to ¥311,447,081.30, representing 34.23% of total assets, an increase of 8.50% from the previous year[67]. Research and Development - The company plans to increase R&D investment and enhance brand influence to mitigate risks from macroeconomic fluctuations[6]. - The company has invested 45.07 million yuan in R&D from 2016 to 2018, accounting for 3.51% of the operating revenue during the same period[38]. - Research and development expenses reached ¥22,170,238.37, a 75.53% increase compared to the previous year, representing 3.58% of total revenue[61]. - The company has increased its R&D investment, leading to the successful development of innovative products such as MBP polymer self-adhesive waterproof membrane and MPU white polyurethane waterproof coating[30]. Market and Product Development - The company aims to optimize product formulas and develop high value-added products to improve profitability amidst raw material price volatility[8]. - The company has developed new products such as self-adhesive TPO membranes and non-smoke non-curing rubber asphalt waterproof coatings, contributing to new profit growth points[42]. - The company has expanded its market presence internationally, exporting products to countries including the USA, Germany, and Australia, reflecting a diversification in its export markets[31]. - The company aims to establish itself as a national standard green factory, aligning with national policies on environmental protection and energy conservation[31]. Strategic Initiatives - The company will strengthen management and refine operations to ensure sustainable growth and mitigate risks associated with increasing accounts receivable[9]. - The company plans to distribute a cash dividend of RMB 0.50 per 10 shares, totaling RMB 6,577,650 for the year 2018[95]. - The company has implemented comprehensive budget management, improving its refined management and risk control capabilities[31]. - The company aims to control raw material costs through improved management and production efficiency[90]. Shareholder and Governance Matters - The company has a cash dividend policy that complies with its articles of association and protects the rights of minority shareholders[96]. - The actual controller and shareholders have fulfilled their commitments during the reporting period[102]. - The company has committed to a lock-up period of 36 months for its shares following the IPO, which will last until October 2020[108]. - The company has established a compensation responsibility for any losses caused to investors due to non-compliance with the lock-up commitments[108]. Industry Outlook - The annual average growth rate of the construction waterproof materials industry during the "12th Five-Year Plan" period was 11.47%, with the main business income growing at an average rate of 13.87%[84]. - Approximately 80% of the demand for waterproof materials comes from the real estate sector, with large real estate companies being the most valuable customers for waterproof material producers[86]. - The demand for traditional high-energy-consuming and high-polluting waterproof products is expected to decline, while new waterproof materials are projected to grow beyond the industry average growth rate[85]. Corporate Social Responsibility - The company actively fulfills its social responsibilities, focusing on employee development and maintaining a good working environment[160]. - The company and its subsidiaries are not classified as key pollutant discharge units by environmental protection authorities[164]. - The company has not faced any penalties for environmental violations during the reporting period[164].

江苏凯伦建材股份有限公司 2018 年第三季度报告 江苏凯伦建材股份有限公司 2 江苏凯伦建材股份有限公司 2018 年第三季度报告 第二节 公司基本情况 2018 年第三季度报告 2018 年 10 月 1 江苏凯伦建材股份有限公司 2018 年第三季度报告 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人钱林弟、主管会计工作负责人季歆宇及会计机构负责人(会计主 管人员)石雪芬声明：保证季度报告中财务报表的真实、准确、完整。 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） | 786,954,722.61 | | 665,637,750.68 | 18.23% | | 归属于上市公司股东的净资产 | 408,041,114.36 | | 38 ...

Financial Performance - The company's operating revenue for 2017 was CNY 394,228,044.92, representing a 46.57% increase compared to CNY 268,969,387.12 in 2016[20] - The net profit attributable to shareholders for 2017 was CNY 44,570,202.67, which is a 10.77% increase from CNY 40,236,957.94 in 2016[20] - The net profit after deducting non-recurring gains and losses was CNY 43,592,363.89, up 11.30% from CNY 39,167,126.23 in 2016[20] - The total assets at the end of 2017 reached CNY 665,637,750.68, an increase of 87.27% from CNY 355,440,773.63 at the end of 2016[20] - The net assets attributable to shareholders increased by 149.85% to CNY 381,827,842.82 from CNY 152,823,883.73 in 2016[20] - The basic earnings per share for 2017 was CNY 0.782, a 4.97% increase from CNY 0.745 in 2016[20] - The weighted average return on net assets decreased to 22.24% from 30.32% in 2016, a decline of 8.08%[20] - The net cash flow from operating activities was negative CNY 1,489,575.74, a significant decrease compared to CNY 338,609.57 in 2016, representing a decline of 539.91%[20] Market and Product Development - The company has invested in advanced production lines for asphalt roll materials, enhancing automation and competitiveness in the market[29] - The company successfully developed innovative products such as MBP polymer self-adhesive waterproof membranes and MPU white polyurethane waterproof coatings, expanding its product portfolio[29] - The company has achieved multiple certifications, including EU CE certification and UK BBA certification, enhancing its credibility in international markets[29] - The company has expanded its market presence internationally, exporting to countries such as the USA, Germany, and Australia[30] - The domestic waterproof construction materials industry has shown an average annual growth rate of 13.87% during the 12th Five-Year Plan period, indicating a growing market[32] - The company aims to promote a "fusion waterproof" concept, leveraging its comprehensive product range to meet diverse construction needs[30] Research and Development - The company invested a total of ¥32.07 million in R&D from 2015 to 2017, accounting for 3.64% of its revenue during the same period[40] - Research and development investment reached ¥12,628,800.80, up 26.16% compared to the previous year, indicating an increased focus on R&D efforts[47] - The company applied for 10 patents during the reporting period, including 3 invention patents, with 3 patents already granted[45] Cash Flow and Financing - The net cash flow from financing activities increased by 236.47% to ¥243,105,162.95, driven by significant growth in financing inflows[49] - The company's cash and cash equivalents increased by 855.80% to ¥212,168,729.24[71] - The total investment for the reporting period was ¥102,500,000.00, reflecting a 583.33% increase compared to the previous year[77] Shareholder and Dividend Information - The company plans to distribute a cash dividend of CNY 2.00 per 10 shares, with no bonus shares issued[9] - The total distributable profit available for shareholders in 2017 is RMB 109,487,395.42, after accounting for the net profit of RMB 49,735,817.63 and the legal surplus reserve of RMB 4,973,581.76[131] - The cash dividend represents 32.31% of the net profit attributable to ordinary shareholders for 2017, which is RMB 44,570,202.67[133] - The company did not distribute any dividends in 2015, retaining earnings for operational development[129] Risks and Challenges - The company faces risks related to market demand fluctuations, raw material price volatility, and human resources[6][7] - The company recognizes the risk of market demand fluctuations due to its reliance on the real estate and infrastructure sectors, which may impact profitability[117] - The company faces raw material price volatility risks, as over 40% of production costs are tied to materials influenced by international oil prices[118] Corporate Governance and Compliance - The company has committed to not engage in any business activities that compete with its existing operations, ensuring no direct or indirect investments in competing companies[163] - The company has established a link between the conditions for stock incentive plans and the execution of compensation measures to ensure accountability[163] - The company has not reported any changes in the investment projects during the reporting period[84] Strategic Partnerships and Expansion - The company established a strategic partnership with Vanke, further expanding its application in the construction and civil engineering sectors[45] - The second production base in Tangshan has been successfully completed, and a third base in Chengdu is in the planning stage, enhancing the company's industrial layout[45] - The company aims to capitalize on the growing demand in the waterproof materials industry, with an expected annual growth rate of over 6% during the 13th Five-Year Plan period[92] Initial Public Offering (IPO) and Share Structure - Jiangsu Kairun Building Materials Co., Ltd. completed its initial public offering (IPO) of 18 million shares on October 26, 2017, increasing total shares from 54 million to 72 million[193] - The IPO raised a total of 192,533,756.42 RMB after deducting issuance costs of 17,547,169.82 RMB[197] - The company’s total share capital increased by 33.33% following the IPO, reflecting a significant capital infusion for future projects[197]

Financial Performance - Total revenue for the first half of 2018 was CNY 245,880,242.04, representing a 40.49% increase compared to CNY 175,014,317.48 in the same period last year[18]. - Net profit attributable to shareholders was CNY 25,225,761.06, up 34.91% from CNY 18,698,626.52 year-on-year[18]. - Net profit after deducting non-recurring gains and losses was CNY 21,645,367.03, a 16.63% increase from CNY 18,559,599.97 in the previous year[18]. - The company achieved operating revenue of CNY 245.88 million, a year-on-year increase of 40.49%[41]. - The company's operating profit reached CNY 30.88 million, reflecting a 40.75% increase compared to the previous year[41]. - The gross margin for waterproof materials sales was 37.06%, with a slight increase of 0.40% compared to the previous year[47]. - The company reported a total profit of CNY 30,025,527.25, compared to CNY 21,940,176.94 in the same period last year[165]. - The company reported a total comprehensive income of 20,635,413.69 RMB during the current period, reflecting a positive performance[188]. Cash Flow and Assets - The net cash flow from operating activities was negative CNY 24,663,932.97, a decline of 352.60% compared to negative CNY 5,449,400.09 in the same period last year[18]. - Cash and cash equivalents decreased significantly from CNY 251,133,144.37 to CNY 133,209,522.02, a decline of approximately 47.0%[156]. - Accounts receivable increased from CNY 171,274,872.90 to CNY 216,802,537.30, reflecting a growth of about 26.5%[156]. - Inventory rose from CNY 41,254,419.02 to CNY 76,961,406.72, indicating an increase of approximately 86.5%[156]. - Total assets at the end of the reporting period were CNY 646,338,222.21, down 2.90% from CNY 665,637,750.68 at the end of the previous year[18]. - The ending balance of cash and cash equivalents decreased to 129,708,789.42 CNY from 39,376,945.46 CNY in the previous period, indicating a significant reduction in liquidity[173]. Investments and R&D - Research and development expenses increased by 63.39% to CNY 8.49 million, indicating a significant investment in innovation[45]. - The company plans to invest a total of RMB 400 million in the Central China production base project, which has been approved by the board and shareholders[129]. - The company has committed to a total investment of ¥19,253.38 million for various projects, with an investment progress of 84.18% for the Tangshan waterproof membrane base project[62]. - The company is actively pursuing strategies to expand into new application areas and enhance production efficiency[74]. Market and Product Development - The company focuses on the research, production, and sales of new waterproof materials, with major applications in public infrastructure projects such as high-speed rail and nuclear power[25]. - The core product, MBP polymer self-adhesive waterproof membrane, has rapidly expanded into the real estate sector, gaining traction with major developers like Vanke and Evergrande[26]. - The company has successfully entered international markets, exporting products to countries including the USA, Germany, and Australia, with a diversified export product range[27]. - The company has introduced new products such as self-adhesive TPO membranes and non-curing rubber asphalt waterproof coatings, which are expected to open new market opportunities[34]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company has established a compensation mechanism for any losses incurred by investors due to non-compliance with commitments by major shareholders[86]. - The company has committed to a 36-month lock-up period for shares held by major shareholders and executives following the IPO, which began on October 26, 2017, and will end on October 26, 2020[85]. - The company has a share transfer restriction commitment for 36 months from the date of listing for several major shareholders[136]. Risks and Challenges - The company anticipates that fluctuations in market demand, particularly in the real estate and infrastructure sectors, may adversely affect its profitability[73]. - The cost of raw materials, including asphalt and SBS, accounted for over 40% of production costs, significantly impacted by rising international oil prices during the reporting period[74]. - Accounts receivable increased due to expanded sales scale and tightening customer funds, posing a risk to asset security[75]. Compliance and Legal Matters - The half-year financial report for Jiangsu Kairun Building Materials Co., Ltd. has not been audited[113]. - There are no major litigation or arbitration matters during the reporting period[115]. - The company has made commitments to avoid conflicts of interest and ensure fair practices in its operations[110]. - The company is currently fulfilling its long-term commitment regarding information disclosure responsibilities[106].

江苏凯伦建材股份有限公司 2018 年第一季度报告 江苏凯伦建材股份有限公司 2018 年第一季度报告 2018 年 4 月 1 江苏凯伦建材股份有限公司 2018 年第一季度报告 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人钱林弟、主管会计工作负责人柴永福及会计机构负责人(会计主 管人员)石雪芬声明：保证季度报告中财务报表的真实、准确、完整。 2 江苏凯伦建材股份有限公司 2018 年第一季度报告 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 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业总收入（元） | 90,526,837.34 | 68,012,002.67 | 33.10% | | 归属于上市公司股东的净利润（元） | 10,220,187.95 | 8,158,962.35 | ...

Financial Performance - The company's operating revenue for 2017 was CNY 394,228,044.92, representing a 46.57% increase compared to CNY 268,969,387.12 in 2016[19] - The net profit attributable to shareholders for 2017 was CNY 44,570,202.67, which is a 10.77% increase from CNY 40,236,957.94 in 2016[19] - The net profit after deducting non-recurring gains and losses was CNY 43,592,363.89, up 11.30% from CNY 39,167,126.23 in the previous year[19] - The total assets at the end of 2017 reached CNY 665,637,750.68, an increase of 87.27% from CNY 355,440,773.63 at the end of 2016[19] - The net assets attributable to shareholders increased by 149.85% to CNY 381,827,842.82 from CNY 152,823,883.73 in 2016[19] - The basic earnings per share for 2017 was CNY 0.782, a 4.97% increase from CNY 0.745 in 2016[19] - The weighted average return on equity decreased to 22.24% from 30.32% in the previous year, a decline of 8.08%[19] - The net cash flow from operating activities was negative CNY 1,489,575.74, a significant decrease compared to CNY 338,609.57 in 2016, representing a decline of 539.91%[19] Market and Product Development - The company has invested in advanced production lines for asphalt roll materials, enhancing automation and competitiveness in the market[28] - The company successfully developed innovative products such as MBP polymer self-adhesive waterproof membranes and MPU white polyurethane waterproof coatings, expanding its product portfolio[28] - The company has achieved multiple certifications, including EU CE certification and UK BBA certification, enhancing its credibility in both domestic and international markets[28] - The company has expanded its market presence internationally, exporting to countries such as the USA, Germany, and Australia, thus diversifying its revenue streams[29] - The construction waterproofing industry has seen an average annual growth rate of 13.87% during the 12th Five-Year Plan period, indicating a robust market environment[32] - The company aims to promote a "fusion waterproofing" concept, leveraging its comprehensive product range to meet diverse construction needs[29] Investment and R&D - The company invested a total of ¥32.07 million in R&D from 2015 to 2017, accounting for 3.64% of the revenue during the same period[40] - Research and development investment reached ¥12,628,800.80, up 26.16% compared to the previous year, indicating an increased focus on R&D[47] - The company applied for 10 patents during the reporting period, including 3 invention patents, and has received 3 authorized patents[45] Shareholder and Dividend Information - The company plans to distribute a cash dividend of CNY 2.00 per 10 shares, with no bonus shares issued[8] - The cash dividend accounted for 100% of the total profit distribution for the year[125] - The total share capital as of December 31, 2017, is 72,000,000 shares, with a capital reserve increase of 8 shares for every 10 shares held[126] - The net profit for the parent company in 2017 was RMB 49,735,817.63, with a distributable profit of RMB 109,487,395.42 after accounting for legal reserves and previously distributed dividends[129] Risks and Challenges - The company faces risks related to market demand fluctuations and raw material price volatility, which could impact profitability[6] - The company recognizes the risk of market demand fluctuations due to its reliance on the real estate and infrastructure sectors[115] - The company faces raw material price volatility risks, as over 40% of production costs are tied to materials influenced by international oil prices[116] Corporate Governance and Compliance - The independent directors fulfilled their responsibilities, ensuring the protection of shareholders' rights[124] - The company has committed to maintain sufficient cash reserves for future operational needs while distributing dividends[127] - The company emphasizes compliance with legal requirements and the protection of investor rights in all its operations[156] Stock and Shareholding Structure - The company completed its initial public offering (IPO) of 18 million shares at a price of 12.50 RMB per share, which began trading on October 26, 2017[194] - The total share capital increased from 54 million shares to 72 million shares following the IPO, resulting in a dilution effect on earnings per share and net assets per share[193] - The shareholder structure indicates a significant concentration of ownership, with the top three shareholders holding over 50% of the total shares[197]