宁波润禾高新材料科技股份有限公司 2020 年第一季度报告全文 公司负责人叶剑平、主管会计工作负责人柴寅初及会计机构负责人(会计主 管人员)柴寅初声明：保证季度报告中财务报表的真实、准确、完整。 2 宁波润禾高新材料科技股份有限公司 2020 年第一季度报告全文 宁波润禾高新材料科技股份有限公司 2020 年第一季度报告 2020 年 04 月 1 宁波润禾高新材料科技股份有限公司 2020 年第一季度报告全文 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 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业总收入（元） | 115,530,551.50 | 135,345,549.84 | -14.64% | | 归属于上市公司股东的净利润（元） | 7,388 ...

Financial Performance - The company's operating revenue for 2019 was ¥630,990,638.31, a decrease of 3.20% compared to ¥651,824,715.63 in 2018[15]. - The net profit attributable to shareholders for 2019 was ¥51,159,119.80, down 22.67% from ¥66,160,745.60 in 2018[15]. - The basic earnings per share for 2019 was ¥0.40, a decrease of 23.08% from ¥0.52 in 2018[15]. - The total assets at the end of 2019 were ¥717,533,129.39, an increase of 4.37% from ¥687,522,118.37 at the end of 2018[15]. - The net assets attributable to shareholders increased by 6.99% to ¥562,545,239.08 at the end of 2019, compared to ¥525,770,301.54 at the end of 2018[15]. - The company reported a total non-recurring gains and losses of CNY 3,824,855.60 in 2019, a decrease of 64.1% compared to CNY 10,601,159.24 in 2018[21]. - The company achieved an operating income of 630.99 million RMB during the reporting period, a decrease of 3.20% year-on-year[41]. - The net profit attributable to shareholders of the listed company was 51.16 million RMB, a decrease of 22.67% compared to the same period last year[41]. - The company’s sales volume in 2019 was CNY 456.81 million, a decrease of 4.44% compared to 2018[57]. Cash Flow and Investments - The net cash flow from operating activities increased significantly to ¥104,330,064.33, a rise of 2,070.24% compared to ¥4,807,315.05 in 2018[15]. - The total amount of cash inflow from investment activities increased by 226.79% to CNY 125.72 million compared to the previous year[67]. - The total cash and cash equivalents increased by 394.91% to CNY 69.21 million compared to the previous year[68]. - The company has cumulative investments of CNY 84,102,600 in the annual production expansion project of 25,000 tons of silicone new materials, with CNY 33,906,200 invested in 2019[78]. - The total amount of raised funds was CNY 203,496,000, with a net amount of CNY 170,629,207.54 after deducting issuance costs[75]. - The company has utilized CNY 119,477,000 of the raised funds, including CNY 35,374,400 for permanent working capital supplementation[78]. Business Operations and Strategy - The main business focuses on the research, production, and sales of organic silicon deep processing products and textile printing and dyeing auxiliaries[23]. - The company adopts a "sales-driven production" model, ensuring quick response to customer orders and maintaining safety stock for commonly used products[27]. - The company emphasizes a market-oriented and customer-centric sales strategy, combining direct sales with distribution and agency models, particularly in key regions like Zhejiang, Jiangsu, and Guangdong[27]. - The company has optimized its governance structure and adjusted its R&D system to accelerate technological innovation and new product launches[28]. - The company has established a professional and efficient marketing team to enhance brand awareness and customer service[28]. - The company is advancing the construction of a project with an annual production capacity of 35,000 tons of silicone new materials and related products, with land use rights already obtained[43]. Research and Development - The company has established a provincial-level post-doctoral research workstation to enhance the vitality of its research team[33]. - The company holds 24 invention patents, with an additional 15 invention patents currently under review[32]. - The company has established partnerships with universities for extensive industry-academia-research cooperation to drive innovation[33]. - Research and development expenses amounted to CNY 24.88 million, representing 3.94% of total operating revenue[66]. - The company is committed to advancing technology in the organic silicon industry, which is recognized as a key area for national economic development[93]. Market and Competition - The company recognizes the risk of macroeconomic fluctuations affecting the organic silicon deep processing industry and plans to adapt by closely monitoring market conditions and consumer demands[101]. - The company faces intense competition in the organic silicon market but aims to maintain its leading position through continuous innovation and product quality improvement[102]. - The company is expanding its international market strategy, focusing on understanding and developing relationships with large clients to enhance market penetration[99]. Shareholder and Dividend Policies - The company plans to distribute a cash dividend of ¥1.6 per 10 shares, totaling approximately ¥2,030,000 based on 12,688,000 shares[4]. - The cash dividend for 2019 is proposed at 1.6 RMB per 10 shares, totaling 20,300,800 RMB, which represents 39.68% of the net profit attributable to shareholders[112][118]. - The total distributable profit for 2019 is 115,100,818.66 RMB, with the cash dividend constituting 100% of the profit distribution[112]. - The company has a profit distribution policy that mandates a minimum cash dividend of 20% of the distributable profit during its growth phase[112]. Compliance and Governance - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of stock listing[121]. - The company will comply with relevant laws and regulations regarding shareholding commitments and reductions, with any violation resulting in the forfeiture of proceeds from the sale of shares[121]. - The company has established a management method for the use of raised funds, ensuring that the funds are utilized effectively according to their intended purpose[136]. - The company is committed to improving its governance structure to protect the rights of shareholders, especially minority shareholders[136]. Social Responsibility and Environmental Impact - The company has engaged in social responsibility activities, including employee participation in public welfare blood donation events[185]. - The company contributed 130,000 RMB to poverty alleviation by purchasing agricultural products from impoverished areas in Guizhou[187]. - The company is focused on green production and has implemented measures to reduce energy consumption and pollution[183]. - The company is not classified as a key pollutant discharge unit by environmental protection authorities[188]. Changes in Share Structure - The total number of shares decreased from 126,880,000 to 126,880,000, with no change in total shares[197]. - Limited sale condition shares decreased from 95,046,250 (74.91%) to 87,945,000 (69.31%), a reduction of 7,101,250 shares[197]. - The company’s shareholders Yang Hao, Nie Yun, and Lin Xiaoping had 6,760,000 shares released from limited sale conditions after 36 months[198]. - The automatic release of lock-up for 345,000 shares held by director Cheng Yan occurred after six months post his departure[200].

Financial Performance - Operating revenue for the reporting period was CNY 176,013,578.97, an increase of 5.07% year-on-year [7]. - Net profit attributable to shareholders was CNY 18,365,011.63, a decrease of 27.20% compared to the same period last year [7]. - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 17,696,437.79, a decrease of 6.08% year-on-year [7]. - The weighted average return on net assets was 3.38%, down by 1.66% compared to the same period last year [7]. - Basic earnings per share for the reporting period were CNY 0.15, a decrease of 25.00% year-on-year [7]. - The company reported a significant decrease in investment income by 81.96% compared to the same period last year, mainly due to the maturity of financial products purchased with raised funds [19]. - The total profit for Q3 2019 was CNY 18,331,077.91, down 13.5% from CNY 21,188,808.28 in Q3 2018 [42]. - The total comprehensive income for Q3 2019 was CNY 18,365,011.63, compared to CNY 25,225,789.94 in the same quarter last year, reflecting a decline of 27.4% [42]. Cash Flow - The company reported a net cash flow from operating activities of CNY 108,387,039.85, an increase of 444.58% year-to-date [7]. - Net cash flow from operating activities increased by 444.58% compared to the same period last year, mainly due to the discounting and collection of receivable bills [19]. - Cash inflow from operating activities totaled CNY 238,743,037.31, compared to CNY 190,230,443.61 in the previous year, marking an increase of approximately 26% [58]. - The net increase in cash and cash equivalents for the period was CNY 83,248,102.51, compared to a modest increase of CNY 2,144,038.01 in the previous year [55]. - The company received cash inflows from operating activities totaling ¥372,527,889.27, compared to ¥311,684,420.14 in the previous period [54]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 680,932,282.70, a decrease of 0.96% compared to the end of the previous year [7]. - Total liabilities decreased from CNY 161,751,816.83 to CNY 125,628,226.85, reflecting a reduction in short-term borrowings [30]. - The company's total assets as of September 30, 2019, amounted to CNY 605,170,005.16, compared to CNY 578,784,131.86 at the end of 2018, representing an increase of 4.5% [34]. - The total equity attributable to shareholders of the parent company reached CNY 493,822,457.27, up from CNY 437,076,455.75, indicating a growth of 13.0% [36]. - The company reported accounts receivable of CNY 132,594,944.35 and inventory of CNY 26,410,963.42 [66]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 9,959 [11]. - The largest shareholder, Zhejiang Runhe Holdings Co., Ltd., held 41.45% of the shares [11]. Research and Development - Research and development expenses for Q3 2019 were CNY 6,926,936.26, a decrease of 11.2% from CNY 7,806,580.91 in the previous year [38]. - Research and development expenses rose to ¥11,615,281.41, up from ¥10,555,441.34, indicating a focus on innovation [50]. Future Outlook - The company plans to continue focusing on market expansion and new product development to drive future growth [42]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth [50].

Financial Performance - Total revenue for the reporting period was CNY 282,597,631.42, a decrease of 11.14% compared to CNY 318,042,942.71 in the same period last year[16]. - Net profit attributable to shareholders was CNY 26,817,697.85, down 10.89% from CNY 30,094,870.04 year-on-year[16]. - Basic earnings per share decreased by 12.50% to CNY 0.21 from CNY 0.24 in the same period last year[16]. - The company reported a net profit after deducting non-recurring gains and losses of CNY 24,161,062.15, a decrease of 9.67% from CNY 26,748,276.94 year-on-year[16]. - The company achieved operating revenue of 282.60 million yuan, a decline of 11.14% year-on-year[45]. - The net profit attributable to shareholders was 26.82 million yuan, down 10.89% from the previous year[45]. - The company reported a total comprehensive income of CNY 58,799,042.73 for the first half of 2019, compared to CNY 7,846,772.53 in the same period of 2018[154]. - The total comprehensive income for the period amounted to 30,094,870.00 CNY[168]. Cash Flow - Net cash flow from operating activities increased significantly to CNY 91,756,213.41, a rise of 1,823.50% compared to a negative cash flow of CNY 5,323,838.07 in the previous year[16]. - The net cash flow from investing activities rose to CNY 71,405,448.88, an increase of 811.16% compared to the previous year[54]. - The company's cash and cash equivalents increased by 433.28% to ¥86,731,557.96[54]. - The net cash flow from operating activities was CNY 113,039,235.39 for the first half of 2019, compared to a negative cash flow of CNY -11,348,329.68 in the same period of 2018[160]. - The total cash outflow from operating activities was CNY 54,926,533.33, significantly lower than CNY 136,253,670.71 in the first half of 2018[160]. - The net increase in cash and cash equivalents for the period was CNY 86,731,557.96, compared to an increase of CNY 16,263,698.10 in the same period of 2018[158]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 661,312,625.33, a decrease of 3.81% from CNY 687,522,118.37 at the end of the previous year[16]. - The company's total liabilities were CNY 137,284,650.17, a slight decrease from CNY 141,707,676.11 in the previous period[146]. - The company's total equity attributable to shareholders at the end of the previous year was 97,600,000.00 CNY[167]. - The total amount of capital reserves transferred to increase capital was 29,280,000.00 CNY[168]. - The total amount of surplus reserves transferred to increase capital was 0.00 CNY[168]. - The total liabilities at the end of the reporting period were approximately 101.9 million yuan, indicating a stable financial position[171]. Research and Development - The company has established a provincial post-doctoral research workstation to enhance its research team's vitality and drive high-quality development[47]. - The company has 24 invention patents and an additional 15 patents under review, showcasing its strong R&D capabilities[36]. - Research and development investment increased by 3.63% to ¥12,469,034.78[53]. - The company emphasizes the importance of R&D and product differentiation to maintain its competitive edge in a low-concentration market for organic silicon deep processing and textile dyeing auxiliary products[75]. Market and Competition - The company acknowledges risks related to macroeconomic changes, market competition, and raw material price fluctuations[4]. - The company’s core competitiveness is driven by leading R&D, sales channels, brand effects, and high-quality products, allowing it to capture market opportunities in the silicone sector[30]. - The company has optimized its governance structure, leading to significant improvements in governance levels and comprehensive marketing capabilities during the reporting period[30]. - The company is closely monitoring global market conditions and trade policies to avoid the impacts of unilateral protectionism on its international sales[77]. Governance and Management - The company has implemented a comprehensive quality control system, achieving ISO9001, ISO14001, and OHSAS18001 certifications[37]. - The company held a series of board meetings to elect new directors and supervisors, ensuring governance continuity[106]. - The company adopted new accounting policies effective from April 21, 2019, aligning with updated financial reporting standards[107]. - The company has experienced changes in its board members, with several resignations and appointments occurring on May 30, 2019[131]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 10,503[121]. - The company’s shareholders, Yang Hao, Nie Yun, and Lin Xiaoping, had their 6,760,000 shares released from lock-up after fulfilling the 36-month holding period[113]. - The largest shareholder has not made any changes to their holdings during the reporting period[121]. - The company has not experienced any changes in its controlling shareholder during the reporting period[123]. Corporate Social Responsibility - The company did not undertake any poverty alleviation initiatives during the reporting period, indicating a potential area for future corporate social responsibility efforts[104]. - The company is not classified as a key pollutant discharge unit by environmental protection authorities, suggesting compliance with environmental regulations[103].

Financial Performance - Total revenue for Q1 2019 was CNY 135,345,549.84, an increase of 1.34% compared to CNY 133,556,094.69 in the same period last year[8]. - Net profit attributable to shareholders was CNY 13,843,586.21, representing a growth of 32.64% from CNY 10,437,175.31 year-on-year[8]. - Basic earnings per share rose to CNY 0.11, up 37.50% from CNY 0.08 in the same quarter last year[8]. - The company achieved total operating revenue of 135.35 million yuan, a year-on-year increase of 1.34%[18]. - Net profit attributable to shareholders was 13.84 million yuan, reflecting a year-on-year growth of 32.64%[18]. - The net profit for the current period was ¥9,617,633.78, significantly up from ¥2,440,422.82, marking an increase of 294.5%[51]. - The company’s total profit for the current period was ¥11,528,829.86, up from ¥3,086,756.23, representing an increase of 273.5%[51]. Cash Flow - Net cash flow from operating activities reached CNY 61,195,345.05, a significant increase of 451.23% compared to a negative cash flow of CNY -17,423,078.49 in the previous year[8]. - The net cash flow from operating activities improved to ¥61,195,345.05, compared to a negative cash flow of -¥17,423,078.49 in the previous period[55]. - Cash inflow from operating activities totaled 119,283,309.99, compared to 39,363,109.48 in the prior period, indicating a growth of approximately 203%[59]. - The total cash outflow from operating activities was 41,521,409.82, down from 64,112,474.49 in the previous period, representing a decrease of about 35%[59]. - The ending cash and cash equivalents balance was 12,959,821.65, up from 4,731,441.48 in the previous period, marking an increase of approximately 174%[60]. Assets and Liabilities - Total assets decreased by 7.71% to CNY 634,491,607.14 from CNY 687,522,118.37 at the end of the previous year[8]. - Total current assets decreased to ¥398,055,693.63 from ¥458,769,438.25, a reduction of about 13%[37]. - Total liabilities decreased significantly to ¥93,959,368.52 from ¥161,751,816.83, a reduction of about 42%[38]. - The company's equity increased to ¥540,532,238.62 from ¥525,770,301.54, showing a growth of approximately 3%[39]. - Accounts receivable decreased to ¥150,312,603.30 from ¥208,492,576.22, a decline of about 28%[36]. - Inventory increased to ¥64,903,830.27 from ¥56,580,965.98, reflecting an increase of approximately 15%[36]. Research and Development - Research and development expenses increased by 52.99% to 6.33 million yuan, indicating a significant increase in R&D investment[17]. - Research and development expenses increased to CNY 6,330,361.02 from CNY 4,137,860.74, representing a rise of 53.1%[46]. - Research and development expenses rose to ¥3,375,365.91, up from ¥1,567,318.55, indicating a growth of 115.0%[50]. Financial Management - Financial expenses surged by 933.49% to 1.17 million yuan, primarily due to exchange rate losses[17]. - The company reported an asset impairment loss of -3.21 million yuan, a decrease of 228.09% compared to the previous period, attributed to reduced bad debt provisions[17]. - The company has not reported any non-compliance with external guarantees during the reporting period[31]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[32]. - The company has not indicated any significant changes in project feasibility or expected returns[34]. Strategic Initiatives - The company is actively advancing the construction of a 25,000-ton organic silicon new materials expansion project, with a total fundraising amount of 170.63 million yuan[28]. - The cumulative investment in fundraising projects reached 59.60 million yuan, representing 34.93% of the total commitment[28]. - The company is focusing on expanding its overseas market presence while consolidating its domestic market position[19]. - The company plans to enhance its product offerings in cosmetics, agricultural organic silicon products, and textile printing and dyeing additives[19]. - The company is closely monitoring macroeconomic conditions and market trends to mitigate risks associated with market competition and raw material price fluctuations[20][21][22]. Other Financial Information - The company did not undergo an audit for the first quarter report[62]. - The company did not apply new financial instrument standards or new revenue standards for the current reporting period[61].

Financial Performance - The company's operating revenue for 2018 was ¥651,824,715.63, representing a 41.31% increase compared to ¥461,261,196.61 in 2017[16] - The net profit attributable to shareholders for 2018 was ¥66,160,745.60, up 37.30% from ¥48,186,080.88 in 2017[16] - The net profit after deducting non-recurring gains and losses was ¥55,559,586.36, a 29.77% increase from ¥42,813,250.17 in 2017[16] - The net cash flow from operating activities improved significantly to ¥4,807,315.05, compared to a negative cash flow of ¥6,155,237.62 in 2017, marking a 178.10% change[16] - The total assets at the end of 2018 were ¥687,522,118.37, a 12.60% increase from ¥610,606,988.02 at the end of 2017[16] - The net assets attributable to shareholders increased by 13.13% to ¥525,770,301.54 from ¥464,754,356.74 in 2017[16] - The basic earnings per share for 2018 was ¥0.52, reflecting a 6.12% increase from ¥0.49 in 2017[16] - The weighted average return on equity was 13.38%, down from 17.00% in 2017, indicating a decrease of 3.62%[16] Revenue and Sales - The quarterly revenue for Q4 2018 was ¥166,254,156.53, showing a slight decline compared to Q3 2018 revenue of ¥167,527,616.39[18] - The revenue from organic silicon deep processing products was ¥461,256,888.95, accounting for 70.76% of total revenue, with a year-on-year growth of 64.28%[54] - The company achieved a sales volume of ¥47,805.38 million in the chemical manufacturing sector, reflecting a 47.84% increase year-on-year[57] - The company’s revenue from overseas markets reached ¥72,500,322.40, marking a 45.88% increase from ¥49,699,545.63 in 2017[54] Research and Development - The company focuses on the R&D, production, and sales of organic silicon deep processing products and textile printing and dyeing auxiliaries[24] - The company has 24 invention patents and an additional 13 invention patents under review[46] - Research and development expenses increased by 39.10% to ¥25,737,844.47, reflecting a significant investment in innovation[63] - The number of R&D personnel rose to 63, making up 16.41% of the total workforce[64] - The company has established partnerships with universities for research and innovation, enhancing its R&D capabilities[37] Production and Capacity Expansion - The company is expanding its production capacity with a project to increase organic silicon new materials production by 25,000 tons annually[46] - The project for the annual production of 25,000 tons of organic silicon materials has reached 29.42% of its planned progress as of March 2020[76] - The company plans to invest in a third production base in Jiangxi Yongxiu to enhance its industrial layout[46] Market Strategy and Customer Base - The company employs a sales model that combines direct sales and distribution, focusing on regions with high customer concentration such as Zhejiang, Jiangsu, Shandong, Fujian, and Guangdong[31] - The company has established a strong marketing team and enhanced its marketing channels, contributing to its market expansion efforts[48] - The company’s major clients accounted for 9.18% of total annual sales, indicating a diversified customer base[61] - The total sales revenue from the top five customers amounted to ¥59,876,606.41, representing 9.18% of the annual total sales[62] Financial Management and Investments - The company raised a total of RMB 17,062.92 million through its initial public offering, with RMB 3,678.88 million utilized and RMB 12,043.17 million remaining unutilized[73] - The company plans to use the raised funds for the expansion project of 25,000 tons of organic silicon new materials, with a total commitment of RMB 17,062.92 million[76] - The interest income from the raised funds amounted to RMB 404.31 million, with a total balance of RMB 447.48 million in the special account for raised funds[75] Shareholder and Dividend Policies - The company plans to distribute a cash dividend of ¥1.50 per 10 shares to shareholders, based on a total of 12,688,000 shares[5] - The cash dividend distribution policy requires a minimum of 20% of the profit to be distributed as cash dividends during the growth phase[106] - The company proposed a cash dividend of CNY 1.5 per 10 shares, totaling CNY 19,032,000.00, which is 28.77% of the net profit attributable to shareholders[104][110] Compliance and Governance - The company has committed to fulfilling all public commitments made during its IPO process, with measures in place to extend the lock-up period of shares until all obligations are met[126] - The company has established a mechanism to strengthen the protection of minority investors' rights and interests[124] - The company will not engage in activities that could dilute shareholder value or harm company interests[125] - The company has committed to not transferring benefits to other entities or individuals under unfair conditions, ensuring the protection of its interests[125] Employee Development and Welfare - The company maintains a strong focus on employee development through training programs and career planning[158] - The company has implemented a training system for new employees and ongoing training for existing staff based on business development needs[200] - The total number of shares held by the management team at the end of the period is 19,456,580 shares, with a net increase of 4,489,980 shares[183] Environmental and Social Responsibility - The company is committed to green production and plans to invest in environmental facilities to achieve eco-friendly production[157] - The company has established a "Runhe" scholarship at several universities to support education and has set up a charity fund for public welfare[159]

Financial Performance - Operating revenue for the reporting period reached CNY 167,527,616.39, a year-on-year increase of 17.45%[7] - Net profit attributable to shareholders increased by 12.53% to CNY 25,225,789.94 for the reporting period[7] - The total operating revenue for the current period reached CNY 485,570,559.10, a significant increase from CNY 322,519,847.81 in the previous period, representing a growth of approximately 50.7%[42] - The net profit for the current period was CNY 55,320,659.98, compared to CNY 34,655,196.02 in the previous period, reflecting an increase of about 59.8%[44] - The total profit for the current period amounted to CNY 65,579,229.02, compared to CNY 40,367,304.66 in the previous period, marking an increase of around 62.3%[43] - Basic earnings per share for the current period were CNY 0.44, up from CNY 0.36 in the previous period, representing a growth of approximately 22.2%[44] - The total comprehensive income for the current period was CNY 55,320,659.98, compared to CNY 34,655,196.02 in the previous period, reflecting an increase of about 59.8%[44] Cash Flow - Cash flow from operating activities increased significantly by 299.82% to CNY 19,902,695.90 year-to-date[7] - Cash flow from operating activities for the period was CNY 19,902,695.90, a significant improvement from a negative cash flow of CNY -9,960,254.43 in Q3 2017[48] - Total cash inflow from operating activities was CNY 311,684,420.14, compared to CNY 192,806,458.57 in the previous year, marking an increase of 61.66%[48] - The company reported a cash flow from investing activities of CNY -19,652,985.32, worsening from CNY -6,057,021.39 in Q3 2017[50] - Cash flow from financing activities generated a net inflow of CNY 415,224.94, a decrease from CNY 15,337,124.14 in the same quarter last year[54] Assets and Liabilities - Total assets increased by 21.74% to CNY 743,362,763.54 compared to the end of the previous year[7] - The company's total liabilities increased to ¥196,515,035.18 from ¥116,746,239.04, a rise of 68.3%[31] - The company's cash and cash equivalents increased to ¥24,742,910.27 from ¥14,298,168.09, a growth of 73.5%[30] - The company's inventory increased by 53.43% compared to the end of the previous year, attributed to sales growth and increased backup stock[15] - Accounts payable and notes payable increased by 91.70% compared to the end of the previous year, primarily due to the company's implementation of a note pool business[16] Research and Development - R&D expenses for the first nine months rose by 42.78% year-on-year, reflecting increased investment in research and development[17] - Research and development expenses were reported at ¥7,806,580.91, up from ¥5,839,504.31, reflecting a 33.6% increase[33] - Research and development expenses for the current period totaled CNY 19,838,805.29, compared to CNY 13,894,219.73 in the previous period, reflecting an increase of about 42.6%[42] Operating Costs - Operating costs for the first nine months increased by 55.77% year-on-year, mainly due to sales growth and rising direct material costs[16] - The total operating costs for the current period were CNY 431,309,291.73, an increase from CNY 287,311,646.95 in the previous period, indicating a growth of approximately 50.0%[42] - Total operating costs amounted to ¥145,378,427.85, up from ¥119,950,827.39, reflecting a growth of 21.2%[33] Other Income - Other income for the first nine months increased by 121.16% year-on-year, primarily due to an increase in fiscal subsidies related to daily operations[17] - Other income for the current period was CNY 1,110,541.94, compared to CNY 502,143.00 in the previous period, reflecting an increase of about 121.5%[42]

Financial Performance - The total operating revenue for the reporting period reached CNY 318,042,942.71, representing a 76.80% increase compared to CNY 179,887,209.57 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was CNY 30,094,870.04, marking a significant increase of 145.92% from CNY 12,237,748.99 year-on-year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 26,748,276.94, which is a 159.29% increase compared to CNY 10,315,842.01 in the previous year[19]. - Basic and diluted earnings per share increased by 84.62%, reaching 0.24 CNY per share, up from 0.13 CNY per share[20]. - The weighted average return on net assets rose to 6.28%, an increase of 1.42% from 4.86% in the previous period[20]. - Total assets at the end of the reporting period were 719,739,605.25 CNY, reflecting a 17.87% increase from 610,606,988.02 CNY at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company increased by 4.89%, amounting to 487,486,449.94 CNY compared to 464,754,356.74 CNY at the end of the previous year[20]. - The total operating costs amounted to CNY 285,930,863.88, up from CNY 167,360,819.56 year-on-year[135]. - The total comprehensive income for the period was CNY 30,094,870.04, compared to CNY 12,237,748.99 in the previous period[136]. Capital and Shareholder Information - The company plans not to distribute cash dividends, issue bonus shares, or increase capital from reserves[5]. - The company’s total share capital increased from 73.2 million shares to 97.6 million shares following a public offering of 24.4 million shares[18]. - The company’s registered capital increased from CNY 73.2 million to CNY 97.6 million as of January 15, 2018[18]. - The total number of shares increased from 97.6 million to 126.88 million after a capital increase of 29.28 million shares[106]. - The company distributed a cash dividend of RMB 1.00 per 10 shares, totaling RMB 9.76 million, and converted 29.28 million shares from capital reserves[108]. - The largest shareholder, Zhejiang Runhe Holdings Co., Ltd., holds 41.45% of the shares, amounting to 52,591,630 shares[110]. - The company has 13,277 common shareholders at the end of the reporting period[110]. Operational Insights - The company operates two main production bases located in Ningbo and Deqing, focusing on organic silicon deep processing products[10]. - The company focuses on the research, production, and sales of organic silicon deep processing products and textile printing and dyeing auxiliaries[28]. - The main products include silicone oil, silicone rubber, silicone resin, and silane coupling agents, which are widely used in various industries[29][30]. - The company aims to expand its customer base and increase customer loyalty through enhanced technology, product quality, and differentiated product positioning[31]. - The company is expanding production capacity with a 25,000-ton organic silicon new materials expansion project, which commenced construction in March 2018[44]. - The marketing strategy focuses on optimizing the sales network and enhancing service proximity to customers to boost market share[45]. Research and Development - Research and development expenses increased by 49.38% to ¥12,032,224.38 from ¥8,054,715.42, indicating a significant investment in innovation[49]. - The company holds 32 invention patents, with an additional 8 patents currently under review[43]. - The company has established partnerships with several universities to enhance research and development capabilities[43]. - The company aims to enhance its research and development capabilities to innovate new technologies and products[152]. Risk Management - The company emphasizes the importance of risk awareness regarding macroeconomic changes, market competition, and raw material price fluctuations[4]. - The company’s future plans and strategic developments are subject to market risks and should be approached with caution by investors[4]. - The company is facing risks from macroeconomic changes and market competition, particularly in the organic silicon deep processing and textile printing and dyeing agent industries[68][70]. - The company has strengthened monitoring and analysis of raw material prices, particularly DMC and MM, to mitigate risks from price volatility[71]. - The company plans to reduce the impact of exchange rate fluctuations on its foreign currency transactions by adjusting the proportion of Euro and USD settlements and shortening payment collection periods[72]. Cash Flow and Liquidity - The net cash flow from operating activities for the reporting period was -5,323,838.07 CNY, an improvement of 82.78% compared to -30,915,063.54 CNY in the previous period[20]. - The total cash and cash equivalents increased by 220.33% to ¥16,263,698.10 from -¥13,515,666.59, reflecting improved liquidity[49]. - The company's cash and cash equivalents represented 10.81% of total assets, up from 4.01% in the previous year, indicating a stronger liquidity position[52]. - Cash and cash equivalents at the end of the period totaled CNY 56,417,155.20, significantly up from CNY 7,318,039.70 at the end of the previous period[142]. - The total cash inflow from operating activities was 124,905,341.03 CNY, significantly higher than 65,812,118.96 CNY in the previous period, reflecting increased sales and service revenue[143]. Environmental and Social Responsibility - The company has established an environmental emergency response plan, which has been filed with relevant government regulatory departments[104]. - The company is not classified as a key pollutant discharge unit by environmental protection authorities[104]. - The company has completed environmental impact assessments for all construction projects, receiving necessary approvals before construction[104]. - The company donated RMB 100,000 to the Ninghai County Ecological Charity Fund to support ecological civilization and charity development[101]. Corporate Governance - The company has not made any adjustments or restatements to previous years' accounting data[19]. - There were no discrepancies between net profit and net assets reported under international accounting standards and Chinese accounting standards during the reporting period[21][22]. - The company has not reported any significant changes in profit composition or sources during the reporting period[49]. - The company has not experienced any major litigation or arbitration matters during the reporting period[84]. - The company has not engaged in any significant related party transactions during the reporting period[89]. - The financial report for the half-year period was not audited[123]. - The company did not engage in any repurchase transactions among its top shareholders during the reporting period[118].

宁波润禾高新材料科技股份有限公司 2018 年第一季度报告全文 宁波润禾高新材料科技股份有限公司 2018 年第一季度报告 2018 年 04 月 1 宁波润禾高新材料科技股份有限公司 2018 年第一季度报告全文 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。 公司负责人叶剑平、主管会计工作负责人柴寅初及会计机构负责人(会计主 管人员)柴寅初声明：保证季度报告中财务报表的真实、准确、完整。 2 宁波润禾高新材料科技股份有限公司 2018 年第一季度报告全文 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） | 133,556,094.69 | 77,206,872.38 | 72.98% | | 归属于上市公司股东的净利润（元） | 10,437 ...

Financial Performance - The company's operating revenue for 2017 was CNY 461.26 million, representing a 53.19% increase compared to CNY 301.10 million in 2016[16]. - The net profit attributable to shareholders for 2017 was CNY 48.19 million, up 32.79% from CNY 36.29 million in 2016[16]. - The net cash flow from operating activities was negative CNY 6.16 million, a decrease of 121.84% compared to CNY 28.18 million in 2016[16]. - The total assets at the end of 2017 reached CNY 610.61 million, a 64.07% increase from CNY 372.17 million at the end of 2016[16]. - The basic earnings per share for 2017 was CNY 0.64, reflecting a 25.49% increase from CNY 0.51 in 2016[16]. - The weighted average return on net assets was 17.00% for 2017, slightly down from 17.18% in 2016[16]. - The company received government subsidies amounting to CNY 5.90 million in 2017, significantly higher than CNY 0.96 million in 2016[22]. - Owner's equity rose by 90.13% to CNY 464.75 million, reflecting strong financial health[40]. - Revenue increased by 53.19%, amounting to CNY 461.26 million, driven by sales growth[40]. - Net profit attributable to shareholders grew by 32.79% to CNY 48.19 million, indicating improved profitability[40]. Dividend Policy - The company plans to distribute a cash dividend of 1.00 RMB per 10 shares to all shareholders, based on a total of 9.76 million shares[4]. - The cash dividend for 2017 is 9,760,000 RMB, which is 20.25% of the net profit attributable to shareholders of 48,186,080.88 RMB[103]. - The company has a profit distribution policy that mandates a minimum cash dividend ratio of 20% during its growth phase with significant capital expenditure plans[99]. - The remaining undistributed profit after the dividend distribution will be 84,251,821.69 RMB, which will be retained for supporting the company's operational development[102]. - The company has committed to a cash dividend ratio of no less than 10% of the distributable profit for the next three years following its IPO[95]. Market Position and Strategy - The company has a leading market share in block silicone oil products, ranking among the top three in the industry, indicating strong market competitiveness[32]. - The company's textile printing and dyeing additives products rank among the top five in overall competitiveness within the industry, particularly excelling in the field of silicone finishing agents[32]. - The company focuses on differentiated product positioning and deep understanding of customer needs to expand its downstream customer base and product sales volume, ensuring profit growth[28]. - The textile printing and dyeing additives consumption in China is expected to grow significantly due to the rapid development of the textile industry and increasing quality demands[31]. - The company is positioned to capitalize on the shift of global silicone production centers to China, enhancing its competitive edge in the market[30]. Research and Development - The company focuses on R&D in fine chemical products, particularly organic silicon deep processing products and textile printing and dyeing agents[26]. - The total R&D investment for 2017 was approximately ¥18.50 million, accounting for 4.01% of the total revenue[63]. - The company launched nearly 40 segmented products in 2017, focusing on customer needs and product optimization[62]. - The company is committed to increasing R&D investment in green and functional silicone products to meet rising consumer demand for environmentally friendly materials[87]. - The company has established partnerships with several universities for research and development, enhancing its technological capabilities[41]. Corporate Governance - The company has established a robust governance structure, enhancing decision-making mechanisms and ensuring effective implementation of corporate policies[46]. - The company emphasizes the protection of minority shareholders' rights and interests through strict adherence to its articles of association and relevant regulations[113]. - The company has committed to fulfilling all public commitments made during its initial public offering and will compensate investors for direct losses incurred due to any failure to meet these commitments[113]. - The company will ensure that the supervisory board can independently and effectively exercise its supervisory rights over the management and financial activities[113]. - The company has established a remuneration system for directors and senior management that is linked to the execution of its compensation measures[113]. Risk Management - The company emphasizes the importance of understanding the risks associated with macroeconomic changes, exchange rate fluctuations, and market conditions[4]. - The company has a risk awareness strategy for investors regarding potential investment risks[4]. - The company recognizes the risk of raw material supply tightness, particularly for DMC and MM, which could impact gross margins if prices rise significantly[89]. - The company faces risks from macroeconomic changes, currency fluctuations, and potential disruptions from large events near production facilities[89]. Production Capacity and Expansion - The company added 18,000 tons of textile printing and dyeing agent capacity and 14,000 tons of organic silicon deep processing product capacity in its new production base[26]. - The company plans to invest in a project to expand production capacity for silicone new materials to 25,000 tons per year, enhancing overall competitiveness and profitability[90]. - The company expanded its production capacity, establishing a new facility with a total capacity of 25,000 tons for textile printing and dyeing auxiliaries and 14,000 tons for organic silicon deep processing products[42]. Shareholding and Management - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of stock listing, with a lock-up period extended to 42 months if certain conditions are met[105]. - The company will not allow any share transfers for 6 months after a key management member leaves[107]. - The company has established strict rules for share reduction to ensure compliance and protect shareholder interests[107]. - The company has committed to avoiding any direct or indirect competition with its subsidiaries, ensuring no conflicts arise in business operations[115]. - The company guarantees that it will not engage in any business activities that could compete with its subsidiaries, both domestically and internationally[115].