Financial Performance - The company's operating revenue for 2021 was ¥7,770,724,151.68, representing a 24.57% increase compared to ¥6,237,878,504.62 in 2020[37]. - The net profit attributable to shareholders for 2021 was ¥672,619,138.53, a decrease of 24.45% from ¥890,334,135.37 in 2020[37]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥572,154,046.95, down 35.42% from ¥885,987,331.88 in 2020[37]. - The total assets at the end of 2021 were ¥10,789,490,108.38, an increase of 32.41% from ¥8,148,385,473.43 at the end of 2020[37]. - The net assets attributable to shareholders at the end of 2021 were ¥4,967,875,431.55, up 19.64% from ¥4,152,488,797.20 at the end of 2020[37]. - The basic earnings per share for 2021 was ¥0.60, a decrease of 26.83% from ¥0.82 in 2020[37]. - The diluted earnings per share for 2021 was ¥0.59, down 28.05% from ¥0.82 in 2020[37]. - The net cash flow from operating activities for 2021 was ¥611,134,567.34, an increase of 10.68% from ¥552,180,280.32 in 2020[37]. - The company reported a total of ¥100,465,091.58 in non-recurring gains for 2021, significantly higher than ¥4,346,803.49 in 2020[45]. - The company experienced a negative net profit in the fourth quarter of 2021, amounting to -¥709,645.04 attributable to shareholders[42]. Market and Industry Insights - The company reported a significant reliance on the real estate sector, which is a major source of sales revenue, indicating that any downturn in the real estate market could adversely affect revenue growth and profitability[7]. - The company emphasizes the importance of macroeconomic conditions and government policies on its financial health, particularly regarding the collection of accounts receivable[10]. - The domestic waterproofing industry has a market capacity exceeding 200 billion RMB, with the company holding less than 5% market share, indicating significant growth potential[151]. - The company anticipates increased demand for waterproofing materials due to infrastructure investments exceeding 11 trillion RMB planned for 2022[151]. - The real estate sector is expected to rebound in 2022, which may lead to higher quality requirements for waterproofing materials[152]. - The industry is experiencing an exit of outdated production capacity, improving the competitive environment for larger enterprises[153]. - The waterproofing industry is entering a new phase of high-quality development, focusing on green, intelligent, and service-oriented growth[156]. Research and Development - The company focuses on independent research and development, with a structured process from product design to mass production[61]. - The company has a research and development team of over 400 people and has established partnerships with prestigious universities, enhancing its technological capabilities[69]. - The company launched nearly 50 new projects in 2021, with several new products achieving mass production and receiving industry awards[105]. - Research and development expenses for 2021 amounted to ¥339,996,564.46, reflecting a 20.64% increase compared to the previous year[102]. - The R&D personnel count increased by 25.95% to 466 in 2021, with the proportion of R&D personnel in the total workforce rising to 11.33%[107]. - The company will continue to invest in R&D, particularly in advanced second-generation production technology and equipment for polymer waterproofing materials[159]. Strategic Initiatives - The company plans not to distribute cash dividends, issue bonus shares, or increase capital through reserves[11]. - The company focused on a "dual hundred billion" strategy, successfully acquiring Fengze Co., entering the damping and isolation industry, and launching the "Keshun Oasis" rainwater management system[80]. - The company aims to achieve over 10 billion RMB in sales revenue in 2022 as part of its "Double 10 Billion" strategy[160]. - The company plans to increase the coverage rate of its distributors to 100% and enhance market penetration in emerging fields and advantageous products[162]. - The company will implement a convertible bond refinancing plan to raise funds for capital investment over the next three years[166]. - The company aims to improve its operational efficiency and self-reform to adapt to changing market conditions and enhance its competitive advantage[165]. Risk Management - The company faces risks related to raw material price fluctuations, particularly for petroleum-based products, which could impact profitability if prices rise significantly[8]. - The company acknowledges the risk of accounts receivable collection issues due to potential financial deterioration of its major debtors amid economic downturns[10]. - The company will enhance its risk management strategies to address potential risks from real estate demand fluctuations and raw material price volatility[167][171]. Corporate Governance - The company is committed to maintaining a robust governance structure, ensuring compliance with relevant laws and regulations[184]. - The company has established a strategic committee to provide professional insights for decision-making processes[186]. - The company held 11 supervisory meetings during the reporting period, approving 78 proposals to ensure compliance with legal and regulatory requirements[189]. - The company has established a performance evaluation and incentive mechanism for directors, supervisors, and senior management to enhance governance efficiency[190]. - The company has a clear set of guidelines for the general manager's responsibilities and conducts regular management meetings to oversee daily operations[191]. - The company adheres to strict information disclosure practices, ensuring timely and accurate communication with investors through designated media[192].

Revenue and Profit - Revenue for Q1 2022 reached ¥1,734,631,538.48, an increase of 18.71% compared to ¥1,461,287,655.52 in the same period last year[5] - Net profit attributable to shareholders decreased by 40.82% to ¥99,048,987.20 from ¥167,372,421.32 year-on-year[5] - The company experienced a 40.97% decline in operating profit, which amounted to ¥11,666.87 million compared to ¥19,765.71 million in the previous year[8] - Net profit for the current period was ¥99,048,987.20, a decrease of 40.73% from ¥167,372,421.32 in the previous period[32] - The comprehensive income for the current period totaled ¥91,980,580.47, down from ¥175,481,560.46 in the previous period, a decrease of 47.60%[32] Cash Flow - The net cash flow from operating activities showed a significant decline, with a net outflow of ¥1,098,352,709.03, compared to an outflow of ¥273,401,680.98 in the previous year, representing a 301.74% increase in outflow[5] - Operating cash inflow for the current period was ¥1,331,172,981.80, a decrease of 6.1% from ¥1,417,681,482.87 in the previous period[36] - Cash outflow from operating activities totaled ¥2,429,525,690.83, compared to ¥1,691,083,163.85 in the previous period, resulting in a net cash flow from operating activities of -¥1,098,352,709.03[36] - Cash inflow from investment activities was ¥50,674,906.31, significantly lower than ¥321,554,876.66 in the previous period[39] - Cash outflow from investment activities was ¥89,543,367.21, down from ¥171,747,296.51 in the previous period, leading to a net cash flow from investment activities of -¥38,868,460.90[39] - Total cash inflow from financing activities was ¥643,236,058.91, an increase from ¥467,109,423.33 in the previous period[39] - Net cash flow from financing activities was ¥512,904,961.94, compared to ¥158,523,489.35 in the previous period, indicating a strong financing position[39] - The company received cash from borrowings amounting to ¥509,609,742.91, up from ¥241,122,000.48 in the previous period, reflecting increased leverage[39] - Cash received from other financing activities was ¥133,354,533.00, significantly higher than ¥32,781.34 in the previous period[39] Assets and Liabilities - Total assets increased by 12.57% to ¥12,145,650,790.86 from ¥10,789,490,108.38 at the end of the previous year[5] - The company's total assets increased to ¥12,145,650,790.86, up from ¥10,789,490,108.38, representing a growth of 12.59%[28] - Total current assets increased from ¥8,233,047,269.13 to ¥9,043,770,908.44, which is an increase of about 9.9%[22] - The total liabilities and equity amounted to ¥12,145,650,790.86, compared to ¥10,789,490,108.38 at the beginning of the year, indicating a growth of 12.59%[28] Shareholder Information - The company reported a total of 43,240 common shareholders at the end of the reporting period[11] - The company reported a total of 265,615,337 restricted shares at the end of the period, down from 277,642,739 at the beginning of the year, after 15,224,998 shares were released from restrictions[14] - The company issued 30,351,027 shares, increasing its registered capital to ¥1,181,575,407[18] Inventory and Borrowings - Inventory increased by 78.76% to ¥72,190.70 million, primarily due to an increase in raw material reserves[8] - Short-term borrowings rose by 90.57% to ¥113,485.28 million, attributed to increased bank loans[8] - Accounts receivable increased significantly from ¥3,420,692,439.63 to ¥4,218,720,514.10, marking an increase of about 23.3%[19] - Inventory rose from ¥403,832,159.32 to ¥721,906,960.96, reflecting an increase of approximately 78.5%[19] - Short-term borrowings surged from ¥595,518,455.50 to ¥1,134,852,835.50, indicating an increase of approximately 90.5%[22] Research and Development - Research and development expenses for the current period were ¥52,910,284.15, compared to ¥41,384,806.13 in the previous period, marking a 27.83% increase[29] Growth Strategy - The company plans to continue expanding its market presence and developing new technologies as part of its growth strategy[15]

Financial Performance - The company's revenue for Q3 2021 reached ¥1,921,578,033.87, an increase of 14.64% compared to the same period last year[5] - Net profit attributable to shareholders decreased by 28.60% to ¥203,193,771.01 in Q3 2021, while year-to-date net profit increased by 17.19% to ¥673,328,783.57[5] - The company's basic earnings per share for Q3 2021 was ¥0.18, down 62.58% year-on-year[5] - Operating revenue for the third quarter of 2021 reached CNY 5,682,542,329.05, compared to CNY 4,335,648,669.73 in the same period of 2020, marking an increase of 31.1%[34] - The total profit for the current period is 801,657,585.74, up from 704,023,204.98, reflecting a growth of 13.9%[37] - The operating profit increased to 797,296,295.45 from 703,689,735.41, marking a rise of 13.3%[37] - The total comprehensive income for the current period is 656,974,193.78, compared to 621,417,243.22, showing an increase of 5.7%[37] - Basic and diluted earnings per share decreased to 0.59 from 0.96, reflecting a decline of 38.5%[37] Assets and Liabilities - The company's total assets at the end of Q3 2021 were ¥10,525,482,409.72, reflecting a 29.17% increase from the end of the previous year[5] - Total assets increased to CNY 10,525,482,409.72 as of September 30, 2021, up from CNY 8,148,385,473.43 on December 31, 2020, representing a growth of 29.1%[33] - Total liabilities rose to CNY 5,575,865,630.11 as of September 30, 2021, from CNY 3,995,896,676.23 at the end of 2020, reflecting a growth of 39.5%[33] - Current assets totaled CNY 8,151,314,983.98, up from CNY 6,090,253,621.71, indicating an increase of 33.9%[33] - Total liabilities increased to 4,010,611,877.25 as of January 1, 2021, with an adjustment of 14,715,201.02[58] - Current liabilities totaled 3,746,470,676.58, showing an increase of 5,367,756.78 from the previous period[58] Cash Flow - The net cash flow from operating activities for the year-to-date period was -¥619,702,258.90, a significant decline of 1,405.48%[5] - Cash inflow from operating activities reached 5,347,514,126.35, compared to 3,971,176,172.89 in the previous period, representing a growth of 34.5%[41] - The net cash flow from operating activities was -619,702,258.90, worsening from -41,163,141.08 in the previous period[41] - The cash outflow from investing activities totaled 583,372,413.48, down from 913,472,458.24, indicating a reduction of 36.1%[44] - The net cash flow from financing activities was 940,634,358.10, an increase from 490,943,683.76 in the previous period[44] - The cash and cash equivalents at the end of the period amounted to 1,346,781,932.06, up from 928,430,508.23, an increase of 44.9%[44] Shareholder Information - The company has a total of 10 major shareholders, with the largest shareholder holding 27.65% of the shares[16] - The company has repurchased a total of 6,444,243 shares, representing 0.56% of the total share capital, with a total expenditure of RMB 100,084,322.6[23] - The company plans to use its repurchased shares for employee stock ownership plans or equity incentives[23] Research and Development - Research and development expenses increased by 49.52% year-on-year, indicating a focus on enhancing product development[11] - Research and development expenses for the third quarter amounted to CNY 265,722,924.43, up from CNY 177,713,849.33 in the same quarter of 2020, an increase of 49.4%[34] Inventory and Receivables - The company reported inventory of RMB 424,011,406.75 as of September 30, 2021, compared to RMB 339,790,641.46 at the end of 2020, reflecting an increase of approximately 25%[24] - Accounts receivable reached RMB 4,049,112,169.15, up from RMB 2,388,371,362.79 in the previous year, indicating a significant increase of about 69%[24] - The company’s other receivables increased to RMB 596,884,844.51 from RMB 135,122,942.27 year-over-year, marking a growth of approximately 343%[24] - The company’s prepayments increased to RMB 241,369,496.02 from RMB 150,910,733.32, showing a growth of about 60%[24] Borrowings - The company’s long-term borrowings increased by 325.56%, reflecting a need for additional funding for investment projects[11] - Short-term borrowings rose significantly to CNY 1,224,086,990.48 from CNY 659,191,283.84, an increase of 86.0%[33] - The company’s short-term borrowings remained constant at 659,191,283.84[50]

Financial Performance - The company's operating revenue for the reporting period reached ¥3,760,964,295.18, representing a 41.42% increase compared to the same period last year[36]. - Net profit attributable to shareholders was ¥470,135,012.56, marking a 62.13% increase year-over-year[36]. - The net profit after deducting non-recurring gains and losses was ¥432,938,008.88, up 41.75% from the previous year[36]. - The company's total assets increased by 17.22% to ¥9,551,207,510.61 compared to the end of the previous year[36]. - The weighted average return on net assets rose to 10.25%, an increase of 1.49% from the previous year[36]. - The company reported a net cash flow from operating activities of -¥674,863,377.42, a decline of 103.99% compared to the same period last year[36]. - The company's gross profit margin was 31.31%, with a net profit margin of 12.50%, which increased by 1.6 percentage points year-on-year[68]. - The operating cost increased by 59.24% to ¥2,583,441,831.61, up from ¥1,622,381,076.17, primarily due to increased sales volume and reclassification of transportation costs[74]. Market and Industry Outlook - The real estate industry is a major source of revenue, and any downturn could negatively impact sales and profit growth[8]. - The company aims for a revenue target of over 10 billion yuan in 2022 and over 20 billion yuan by 2025, with a budget target of exceeding 8 billion yuan in sales revenue for the current year[68]. - The company is focused on expanding its market presence in infrastructure projects such as high-speed rail and urban development[8]. - The company anticipates a positive outlook for the construction sector, which will drive demand for waterproofing products[119]. Risk Management - The company faces risks related to real estate demand, raw material price fluctuations, and accounts receivable recovery, with strategies in place to mitigate these risks[109][110][111]. - Raw material prices, particularly for petroleum-based products, pose a risk to profitability due to limited bargaining power[11]. - The company will monitor raw material price trends and utilize hedging tools to manage price volatility risks[11]. - The total amount of accounts receivable increased to ¥3,686,812,304.08, accounting for 38.60% of total assets, up from 29.31% the previous year[78]. Research and Development - The company is committed to continuous development of new products and technologies to enhance its competitive edge in the market[8]. - The company has a research and development team of nearly 400 people and has established partnerships with several prestigious universities, contributing to its technological advancements[58]. - The company has invested over 4% of its annual revenue in R&D, emphasizing the importance of technology and innovation for sustainable development[157]. - The company has established a post-doctoral research station and an academician workstation to foster innovation and collaboration in research[157]. Environmental Responsibility - The company adheres to national and local environmental protection laws and regulations, including the Environmental Protection Law and the Air Pollution Prevention and Control Law[134]. - The company has implemented an ISO14001 environmental management system to enhance its environmental and energy management practices[134]. - The company has developed emergency response plans for environmental incidents across its eight production bases, including risk assessments and emergency drills[145]. - The company has maintained compliance with environmental regulations, with no recorded administrative penalties from environmental protection authorities[149]. Corporate Governance - The company plans not to distribute cash dividends or bonus shares for the first half of 2021[7]. - The company has not made any changes to the use of raised funds during the reporting period, maintaining a 0.00% change ratio[88]. - The company has not engaged in derivative investments or entrusted loans during the reporting period[102][103]. - The company has not sold any significant assets or equity during the reporting period[104][105].

Financial Performance - The company's operating revenue for Q1 2021 reached ¥1,461,287,655.52, representing an increase of 80.57% compared to the same period last year[9]. - Net profit attributable to shareholders was ¥167,372,421.32, a significant increase of 469.62% year-on-year[9]. - The net profit after deducting non-recurring gains and losses was ¥161,610,568.39, up 240.00% from the previous year[9]. - Basic earnings per share rose to ¥0.27, reflecting a 440.00% increase compared to ¥0.05 in the same quarter last year[9]. - Total operating revenue for the current period reached ¥1,461,287,655.52, a significant increase from ¥809,270,033.02 in the previous period, representing an increase of approximately 80.5%[80]. - Operating profit for the current period was ¥197,657,120.40, compared to ¥34,584,563.89 in the previous period, indicating a growth of about 471.5%[83]. - Net profit for the current period was ¥167,372,421.32, up from ¥29,382,913.67 in the previous period, reflecting an increase of approximately 469.5%[83]. - Total comprehensive income for the current period was ¥175,481,560.46, compared to ¥30,926,490.35 in the previous period, an increase of about 466.5%[87]. Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥8,721,512,262.28, an increase of 7.03% from the end of the previous year[9]. - The net assets attributable to shareholders reached ¥4,560,914,049.45, up 9.84% from the previous year[9]. - As of March 31, 2021, total liabilities amounted to CNY 4,160,598,212.83, an increase of 4.14% from CNY 3,995,896,676.23 on December 31, 2020[66]. - The total equity attributable to shareholders reached CNY 4,560,914,049.45, up from CNY 4,152,488,797.20, reflecting a growth of 9.83%[69]. - The company's total assets decreased to CNY 7,620,796,138.41 from CNY 7,788,309,406.77, a decline of 2.15%[73]. - The total liabilities were $3,995,896,676.23, unchanged from the previous period, indicating stable financial leverage[107]. Cash Flow - The net cash flow from operating activities was negative at -¥273,401,680.98, a slight decrease of 4.72% compared to -¥261,073,983.90 in the same period last year[9]. - Cash flow from operating activities showed a net outflow of ¥273,401,680.98, compared to a net outflow of ¥261,073,983.90 in the previous period[94]. - Cash and cash equivalents at the end of the period increased to ¥1,290,918,320.44 from ¥828,185,877.59 in the previous period[99]. - The company’s net cash flow from investment activities was $250,153,665.41, a recovery from the previous period's negative cash flow of -$128,585,137.94[100]. Research and Development - Research and development expenses increased by 64.65% to 4,138.48 million yuan, reflecting the implementation of more research projects[22]. - Research and development expenses increased to ¥41,384,806.13 from ¥25,135,441.32, representing a rise of approximately 64.5%[80]. Market and Operational Strategy - The company reported a significant reliance on the real estate sector, which is a major source of sales revenue, indicating that any downturn in the real estate market could adversely affect revenue growth and profitability[37]. - The company plans to enhance market development efforts, optimize customer and product structures, and increase sales in infrastructure sectors such as high-speed rail and nuclear power to mitigate risks associated with real estate demand[39]. - The company adopted a winter storage plan for asphalt to improve operational stability and mitigate raw material price fluctuations[36]. Risks and Management - The company faces risks from fluctuations in raw material prices, particularly petroleum-based products, which could impact profitability due to limited bargaining power[40]. - To address accounts receivable risks, the company aims to adjust sales strategies and enhance credit risk management to improve collection rates and reduce the growth of accounts receivable[41]. - The company is actively monitoring raw material price trends and enhancing procurement strategies to mitigate risks associated with price volatility[40]. Shareholder and Equity Actions - The company implemented a stock issuance to raise 225.30 million yuan for working capital, supporting its rapid development[34]. - The board proposed to acquire 100% equity of Fengze Co., aiming to leverage synergies and expand market share in infrastructure[34]. - The company is pursuing a stock issuance to acquire assets, which requires approval from shareholders and regulatory bodies, introducing uncertainty into the transaction[42].

Financial Performance - The company's operating revenue for Q1 2021 reached ¥1,461,287,655.52, representing an increase of 80.57% compared to the same period last year[9]. - Net profit attributable to shareholders was ¥165,481,606.80, a significant increase of 463.19% year-on-year[9]. - The basic earnings per share rose to ¥0.27, reflecting a growth of 440.00% compared to the previous year[9]. - The company reported a net profit excluding non-recurring gains and losses of ¥159,416,645.51, which is a 235.39% increase year-on-year[9]. - The company's operating profit for the current period is ¥198,503,025.35, a significant increase from ¥34,584,563.89 in the previous period, representing a growth of approximately 474%[81]. - The net profit for the current period is ¥165,481,606.80, compared to ¥29,382,913.67 in the previous period, indicating an increase of about 463%[81]. - Total revenue for the current period is ¥1,073,028,840.75, compared to ¥555,432,236.17 in the previous period, marking an increase of approximately 93%[85]. - The total comprehensive income for the current period is ¥172,922,555.53, compared to ¥30,926,490.35 in the previous period, showing an increase of approximately 460%[81]. Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥8,718,658,968.66, marking a 7.00% increase from the end of the previous year[9]. - Current assets totaled ¥6,556,942,960.36, up from ¥6,090,253,621.71, indicating an increase of about 7.66%[58]. - The company's equity attributable to shareholders reached ¥4,559,268,561.31, up from ¥4,152,488,797.20, reflecting an increase of around 9.8%[67]. - Total liabilities increased to ¥4,159,390,407.35 from ¥3,995,896,676.23, marking a growth of approximately 4.1%[64]. - The company's total assets as of March 31, 2021, were ¥7,604,005,646.01, a decrease from ¥7,788,309,406.77 at the end of 2020[74]. - Total liabilities decreased to ¥3,669,107,886.67 as of March 31, 2021, down from ¥4,175,983,159.10 at the end of 2020, indicating a reduction of approximately 12.2%[74]. - Owner's equity increased to ¥3,934,897,759.34 as of March 31, 2021, compared to ¥3,612,326,247.67 at the end of 2020, reflecting an increase of about 8.9%[74]. Cash Flow - The net cash flow from operating activities was negative at ¥-273,401,680.98, a slight decline of 4.72% compared to the same period last year[9]. - Cash flow from operating activities for the current period is ¥1,405,140,879.08, compared to ¥891,543,117.61 in the previous period, indicating an increase of about 57%[88]. - Cash inflow from investment activities was CNY 321,554,876.66, significantly higher than CNY 100,653,703.07 in the last period, marking a 219.5% increase[91]. - Total cash inflow from financing activities was CNY 467,109,423.33, down from CNY 530,106,165.13 in the prior period, a decrease of 11.9%[94]. - The ending cash and cash equivalents balance was CNY 1,230,918,320.44, compared to CNY 828,185,877.59 at the end of the previous period, an increase of 48.5%[94]. Shareholder Information - The top shareholder, Chen Weizhong, holds 27.83% of the shares, with a total of 176,811,368 shares[13]. - The total number of shareholders at the end of the reporting period was 29,824[13]. Operational Highlights - The increase in sales revenue was driven by strong market demand and improved production capacity from new projects in Jingmen and Weinan[25]. - The gross profit margin saw an increase due to a significant rise in production and sales volume, despite changes in accounting for transportation costs[26]. - The company plans to acquire 100% of Fengze Co., leveraging its resources to expand into infrastructure markets[33]. - A winter storage plan for asphalt was implemented to enhance the company's stability against raw material price fluctuations[35]. - The company aims to mitigate risks from the real estate sector by diversifying its customer base and enhancing its presence in infrastructure construction[36]. - The company is closely monitoring raw material price trends and plans to use hedging strategies to manage price volatility risks[39]. Risk Management - The company's accounts receivable increased in line with revenue growth, posing a risk of collection delays or bad debts due to potential financial deterioration of major clients, primarily large state-owned enterprises and well-known real estate companies[40]. - The company has implemented measures to mitigate risks associated with accounts receivable, including adjusting sales strategies and enhancing credit risk management[40]. - The company has no overdue commitments from actual controllers, shareholders, related parties, or acquirers during the reporting period[42]. - The company has no violations regarding external guarantees during the reporting period[49]. - The company has no non-operating occupation of funds by controlling shareholders or related parties during the reporting period[50].

Financial Performance - The company's operating revenue for 2020 was ¥6,237,878,504.62, representing a 34.09% increase compared to ¥4,651,957,012.00 in 2019[31]. - The net profit attributable to shareholders in 2020 was ¥890,334,135.37, a significant increase of 145.03% from ¥363,361,528.13 in 2019[31]. - The net cash flow from operating activities reached ¥552,180,280.32 in 2020, up 216.05% from ¥174,710,725.34 in 2019[31]. - The total assets at the end of 2020 amounted to ¥8,148,385,473.43, a 35.96% increase from ¥5,993,281,857.81 at the end of 2019[31]. - The company's basic earnings per share for 2020 was ¥1.48, reflecting a 146.67% increase from ¥0.6 in 2019[31]. - The company reported a weighted average return on equity of 24.53% in 2020, up from 11.96% in 2019[31]. - In 2020, the company achieved a revenue of CNY 623.79 million, representing a year-on-year growth of 34.09%[67]. - The net profit attributable to shareholders reached CNY 890.33 million, a significant increase of 145.03% compared to the previous year[67]. - The company's cash flow from operating activities was CNY 552.18 million, up 216.05% year-on-year[67]. - The total assets at the end of 2020 amounted to CNY 814.84 million, reflecting a growth of 35.96% from the beginning of the year[67]. Market and Sales Strategy - The company reported a significant reliance on the real estate sector, which is a major source of sales revenue, impacting growth and profitability[6]. - The company plans to enhance market development efforts, optimize customer and product structures, and increase sales in infrastructure sectors such as high-speed rail and subways[7]. - The company is committed to expanding its market presence and enhancing its product offerings in the waterproofing sector[43]. - The company aims to achieve sales exceeding 10 billion yuan in 2022 and targets a revenue scale of 20 billion yuan by 2025[142]. - In 2021, the company set a sales target of 8 billion yuan, supported by a detailed operational plan[143]. - The company intends to ensure that revenue from direct sales customers grows steadily, aiming for dealer revenue to account for 45% of total revenue in 2021[148]. Research and Development - The company has a strong focus on research and development in new waterproof materials and construction services[43]. - The company has a strong R&D capability, with R&D investment accounting for over 4% of revenue during the reporting period, and currently holds over 280 patents[46]. - Research and development expenses for the year were CNY 281.83 million, accounting for 4.52% of total revenue, with a year-on-year increase of 34.52%[72]. - The company completed 7 invention patent applications and was awarded 9 patents during the year, showcasing its commitment to innovation[72]. - The company engaged in collaborative projects with several universities and research institutions, enhancing its R&D capabilities and output[99]. Risk Management - The company faces risks from raw material price fluctuations, particularly for petroleum-based products, which could affect profitability[8]. - The company aims to improve its bargaining power through centralized procurement and risk management strategies to mitigate raw material price volatility[11]. - The company recognizes the risk of real estate demand not meeting expectations, which could adversely affect revenue growth and profitability[150]. - The company has faced risks related to accounts receivable due to potential financial deterioration of major debtors amid economic downturns[155]. - The company plans to adjust sales strategies and enhance credit risk management to improve accounts receivable turnover[12]. Dividend and Share Issuance - The company proposed a profit distribution plan, distributing cash dividends of 1.5 RMB per 10 shares and no bonus shares[13]. - The company has a cash dividend policy that includes a distribution of RMB 1.50 per 10 shares (tax included) for the year 2020, totaling RMB 95,305,740.00[162]. - The cash dividend for 2020 represents 10.70% of the net profit attributable to ordinary shareholders, which was RMB 890,334,135.37[167]. - The company is pursuing a stock issuance to acquire assets, pending approval from shareholders and regulatory bodies, which introduces uncertainty[13]. - The company will increase its capital by 8 shares for every 10 shares held, based on a total share capital of 635,371,600 shares[165]. Operational Efficiency - The company has experienced significant growth in both revenue and profit, indicating a positive market trend and operational efficiency[31]. - The company is expanding its production capacity with eight existing production bases and additional projects under construction, which will significantly enhance its supply capabilities[53]. - The company plans to maintain a compound annual growth rate of 40% in production capacity over the next three years (2021-2023) to support its CNY 10 billion strategic goal[68]. - The company’s physical sales volume increased by 63.83% year-on-year, totaling 437,851,158.02 square meters[83]. - The production volume rose by 76.14% year-on-year, reaching 471,755,923.56 square meters[83]. Compliance and Governance - The company emphasizes the importance of maintaining accurate financial reporting and risk disclosures to investors[5]. - The company has adhered to all commitments regarding shareholding and transfer restrictions as outlined in relevant laws and regulations, ensuring compliance throughout the reporting period[172]. - The company has committed to not transferring any shares held by its actual controller, shareholders, and related parties for 36 months from the date of the stock listing, with a subsequent annual transfer limit of 25% if still in a management position[170]. - The company has established a long-term commitment to stabilize its stock price, which includes measures for its controlling shareholders[178]. - The company has committed to avoiding and reducing related party transactions, ensuring that any unavoidable transactions adhere to fair market pricing standards[187].

Financial Performance - Operating revenue for the period was ¥1,676,251,212.95, representing a year-on-year growth of 23.98%[10] - Net profit attributable to shareholders was ¥284,598,310.22, a significant increase of 175.08% compared to the same period last year[10] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥275,301,332.38, up 174.30% year-on-year[10] - Basic earnings per share for the period was ¥0.48, reflecting an increase of 182.35% compared to the same period last year[10] - The company's operating profit increased to ¥348,162,139.30 from ¥125,724,629.34, representing a growth of 176.5%[69] - Net profit rose to ¥284,598,310.22 compared to ¥103,461,797.56 in the previous period, marking an increase of 174.5%[69] - The total profit for the current period was ¥704,023,204.98, compared to ¥329,644,885.19 in the previous period, reflecting an increase of about 113.5%[78] - The company reported a total comprehensive income of ¥621,417,243.22, up from ¥269,477,244.96, marking a growth of approximately 130.0%[82] Assets and Liabilities - Total assets at the end of the reporting period reached ¥7,474,876,012.88, an increase of 24.72% compared to the end of the previous year[10] - Total liabilities increased to CNY 3,666,728,848.12 as of September 30, 2020, compared to CNY 2,844,756,958.93 at the end of 2019[52] - The company's total equity as of September 30, 2020, was CNY 3,515,870,344.01, compared to CNY 3,032,846,767.68 at the end of 2019, reflecting an increase of approximately 15.9%[62] - The company's total assets reached CNY 7,474,876,012.88 as of September 30, 2020, up from CNY 5,993,281,857.81 at the end of 2019[49] - The company's current assets totaled CNY 4,499,144,196.39, with a significant decrease in inventory by CNY 297,637,522.24[104] Cash Flow - The net cash flow from operating activities was ¥289,676,447.60, showing a slight increase of 2.10% year-on-year[10] - The company’s cash flow from operating activities improved by 57.62% to -¥41,163,141.08, reflecting the growth in operating income and net profit[30] - Cash inflow from financing activities was CNY 1,257,257,613.89, an increase from CNY 710,069,325.23 in the previous period, reflecting a growth of approximately 77.0%[94] - Net cash flow from financing activities was CNY 490,943,683.76, up from CNY 110,728,580.37 in the previous period, showing an increase of approximately 344.5%[94] Shareholder Information - The company reported a total of 611,220,829 shares outstanding as of the last trading day before the report disclosure[10] - The top shareholder, Chen Weizhong, holds 25.07% of the shares, with 32,940,000 shares pledged[15] - The company approved the exercise of stock options for 1.434 million shares as part of its stock incentive plan[32] - As of September 30, 2020, the company completed the exercise of 3,958,229 stock options, with 631,771 options remaining unexercised[37] Government Support and Subsidies - The company received government subsidies amounting to ¥19,239,767.79 during the reporting period[12] - Other income increased significantly to ¥19,239,767.79 from ¥6,343,643.90, representing a growth of approximately 203.5%[78] Inventory and Accounts Receivable - Accounts receivable increased by 41.06% to ¥2,651,711,058.24 compared to the end of the previous year, mainly due to increased operating income[26] - The company’s inventory decreased by 35.44% to ¥377,480,859.12, due to the reclassification of completed but unsettled assets from inventory to contract assets[26] - The company reported a significant increase in accounts receivable, which rose to CNY 2,849,840,302.84 from CNY 2,153,449,460.49, representing an increase of about 32.4%[56] Research and Development - Research and development expenses for the third quarter were CNY 84,617,459.73, up from CNY 75,369,172.98, indicating a growth of approximately 12.9%[66] - Research and development expenses increased to ¥177,713,849.33 from ¥142,235,729.85, reflecting a rise of about 25.0%[78] Financial Strategy and Debt Management - The company’s long-term borrowings increased by 261.34% to ¥266,341,002.74, as part of a strategy to optimize debt structure by reducing short-term loans[26] - The company has a long-term debt of CNY 73,709,260.55, indicating a stable financial structure[111] Compliance and Reporting - The company has not reported any overdue commitments from major stakeholders during the reporting period[38] - The company did not execute any cash dividend policy during the reporting period[39] - The company has not conducted an audit for the third quarter report[122]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 2,659,397,456.78, representing a 34.70% increase compared to CNY 1,974,319,569.08 in the same period last year[26]. - The net profit attributable to shareholders of the listed company reached CNY 289,971,397.37, a 74.67% increase from CNY 166,015,447.40 year-on-year[26]. - The net profit after deducting non-recurring gains and losses was CNY 305,422,348.15, up 90.63% from CNY 160,220,829.68 in the previous year[26]. - The basic earnings per share increased to CNY 0.49, an 81.48% rise compared to CNY 0.27 in the same period last year[26]. - The diluted earnings per share were CNY 0.48, which is a 77.78% increase from CNY 0.27 year-on-year[26]. - The weighted average return on net assets was 8.76%, up 3.21% from 5.55% in the previous year[26]. - The company's total revenue reached 2,659.40 million yuan, a year-on-year increase of 34.70%[57]. - The net profit attributable to shareholders was 289.97 million yuan, up 74.67% compared to the same period last year[57]. - The company's total assets increased by 15.68% to 6,933.22 million yuan, while net assets grew by 10.74% to 3,486.76 million yuan[57]. Cash Flow and Investments - The company reported a net cash flow from operating activities of CNY -330,839,588.68, an improvement of 13.13% compared to CNY -380,839,107.99 in the same period last year[26]. - The investment activities generated a net cash outflow of -¥352,578,157.13, a significant decrease from the previous year's inflow of ¥137,123,643.25, primarily due to reduced redemption of idle fundraising financial products[63]. - The total investment amount during the reporting period was ¥404,590,000, representing a 64.27% increase compared to ¥246,297,389 in the same period last year[78]. - The company has temporarily used ¥49,800 million of idle raised funds to supplement working capital, which will be returned by the end of the specified period[83]. - The company reported a total of ¥2,888,179,873.03 in purchases of financial assets during the reporting period, with ¥2,854,479,158.12 in sales[81]. Research and Development - Research and development expenses accounted for approximately 4% of the company's revenue during the reporting period, with over 300 patents owned or applied for[39]. - Research and development expenses rose by 39.23% to ¥93,096,389.60, up from ¥66,866,556.87, attributed to an increase in R&D projects and personnel[63]. - The company has over 300 patents, enhancing its research and development capabilities in waterproof materials[50]. - Research and development expenses increased by 30% to 150 million RMB, focusing on innovative waterproof technology[125]. Market and Industry Position - The company operates 17 sales subsidiaries across major cities in China and has established long-term partnerships with over 1,000 distributors[40]. - The company is recognized as one of the top three comprehensive strength enterprises in the building waterproofing industry and has participated in drafting 32 national or industry standards[44]. - The waterproofing industry in China is characterized by low concentration and intense competition, with a reported 721 enterprises generating over ¥20 million in revenue in the first half of 2020[43]. - The company has strategic partnerships with major real estate firms, servicing over 1,000 projects annually[38]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2022[125]. Corporate Governance and Compliance - The company has committed to maintaining transparency with investors regarding any unfulfilled commitments, ensuring timely disclosures[124]. - The management team has implemented measures to prevent conflicts of interest, ensuring no competition with the company's core business[124]. - The company has committed to avoid and reduce related party transactions, ensuring fair pricing and compliance with legal regulations[129]. - The company has established compliance with various regulations regarding shareholding and transfer, ensuring adherence to the Securities Law and Company Law[112]. - The company has no significant litigation or arbitration matters during the reporting period, indicating a stable legal environment[134]. Environmental Responsibility - The company has obtained various environmental protection permits, including wastewater discharge permits from multiple local environmental authorities[182]. - The company strictly adheres to environmental protection laws and industry standards in its operations[181]. - The company has established a comprehensive self-monitoring plan for wastewater and waste gas, with quarterly monitoring of waste gas including indicators such as asphalt smoke, non-methane total hydrocarbons, particulate matter, and odor concentration[188]. - The company has invested in various environmental protection equipment, including RTO devices and bag dust collectors for waste gas treatment, and facilities for wastewater treatment using a combination of coagulation, flotation, sedimentation, and biochemical processes[190]. - The company has not received any administrative penalties from environmental protection departments during the reporting period[191]. Social Responsibility - The company actively participated in poverty alleviation efforts, providing support through donations, education, and industry assistance, particularly in the Dabo County of Guangxi Province[193]. - In response to the impact of the pandemic on local agricultural products, the company organized a public purchase campaign for local citrus fruits, helping farmers sell nearly 10,000 pounds of fruit[193]. - The company plans to enhance its poverty alleviation efforts by establishing a systematic support framework, including cash and resource support, education assistance, and employment support[196]. - The company has committed to continuous improvement in its social responsibility initiatives, focusing on sustainable development and community support[195].

Financial Performance - The company's operating revenue for 2019 was CNY 4,651,957,012, representing a 50.22% increase compared to CNY 3,096,749,290 in 2018[32]. - The net profit attributable to shareholders for 2019 was CNY 363,361,528, a 96.13% increase from CNY 185,267,247 in 2018[32]. - The net cash flow from operating activities improved significantly to CNY 174,710,725, compared to a negative cash flow of CNY -198,461,959 in 2018, marking a 188.03% increase[32]. - The total assets at the end of 2019 reached CNY 5,993,281,857, which is a 21.73% increase from CNY 4,923,609,168 at the end of 2018[32]. - The company reported a basic earnings per share of CNY 0.60 for 2019, up 93.55% from CNY 0.31 in 2018[32]. - The company's total operating revenue reached ¥4,092,258,449.04, representing a year-on-year increase of 55.47%[81]. - The net profit attributable to shareholders reached CNY 36,336.15 million, up 96.13% year-on-year, driven by increased R&D investment and optimized product structure[65]. - The company's accounts receivable amounted to CNY 238,393.58 million, a 37.00% increase compared to the previous year, while net cash flow from operating activities grew by 188.03% to CNY 17,471.07 million[65]. Market and Business Strategy - The company plans to enhance market development efforts, focusing on infrastructure projects such as high-speed rail, subways, and nuclear power, aiming to increase sales revenue in these areas[7]. - The company aims to achieve over CNY 10 billion in operating revenue by 2022, leveraging opportunities in the new infrastructure market[73]. - The company is expanding its production capacity with ongoing projects in Fujian and the second phase in Dezhou, which will significantly enhance its supply capabilities[57]. - The company aims to optimize its customer and product structure while continuing to cultivate new profit growth points in home decoration and repair markets[7]. - The company plans to continue expanding its market presence and enhance its product offerings in the waterproofing materials sector[44]. - The company has established long-term partnerships with over 1,000 distributors across 30 provinces, enhancing its market presence[60]. Risks and Challenges - The company reported a significant reliance on the real estate sector, which is a major source of sales revenue, indicating that any downturn in this industry could adversely affect revenue growth and profitability[7]. - The company is facing risks related to raw material price fluctuations, particularly for petroleum-based products, which could impact profitability if prices rise significantly[12]. - The company acknowledges the uncertainties in the macroeconomic environment, particularly due to the ongoing impacts of the COVID-19 pandemic, which could affect business development[7]. - The company has experienced a substantial increase in accounts receivable due to business expansion, which poses a risk if major clients face financial difficulties[13]. - The company is closely monitoring the price trends of upstream raw materials and is implementing strategies such as hedging to mitigate risks associated with price volatility[12]. Research and Development - The company's R&D investment accounted for over 4% of its revenue during the reporting period, with more than 280 patents owned or applied for[46]. - The company’s R&D investment was CNY 20,950.73 million, accounting for 4.5% of operating revenue, reflecting a 60.31% increase year-on-year[72]. - The number of R&D personnel increased to 519 in 2019, accounting for 17.82% of the total workforce, up from 16.59% in 2018[94]. - The company has launched several innovative products, including low VOC polyurethane waterproof coatings and graphene-modified polyurethane waterproof coatings, which have received positive user feedback[56]. - The company developed new waterproof products, including a self-adhesive polymer series and solvent-free polyurethane waterproof coatings[92]. Inventory and Accounts Receivable - Accounts receivable grew by 30.40% compared to the beginning of the period, attributed to significant revenue growth[55]. - Inventory surged by 92.81% compared to the beginning of the period, driven by a substantial increase in sales orders and expanded production scale[55]. - The company's accounts receivable increased to approximately ¥1.88 billion, representing 31.37% of total assets, up from 29.28% in 2018[104]. - The inventory level increased significantly by 102.78%, reaching 13,272,699.63 square meters, attributed to expanded production capacity[82]. Shareholder and Financial Commitments - The company has a profit distribution plan based on a base of 607,723,600 shares, proposing no cash dividends or stock bonuses for shareholders[14]. - The company did not distribute cash dividends for the 2019 fiscal year, with a total cash dividend amount of 50,946,170.40 yuan, representing 14.02% of the net profit attributable to ordinary shareholders[149]. - The company’s cash dividend distribution plan for 2019 aligns with its articles of association, with no stock dividends or capital reserve transfers planned[143]. - The company has committed to not transferring any shares for 36 months post-IPO, with a subsequent annual limit of 25% of total shares held if still in a management position[152]. - The company will comply with various regulations regarding shareholder obligations and responsibilities, ensuring transparency in shareholding changes[155]. Compliance and Regulatory Matters - The company has committed to measures to prevent dilution of immediate returns, including not interfering with management activities and ensuring that compensation is linked to the execution of return measures[168]. - The company has established a framework for accountability among its directors and executives regarding the fulfillment of commitments made during the IPO process[170]. - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or their affiliates during the reporting period[178]. - The company has implemented new financial instrument standards effective January 1, 2019, which have impacted the classification and measurement of financial assets and liabilities[179]. - The company has reported a significant adjustment in financial reporting due to the adoption of new accounting standards, affecting retained earnings and other comprehensive income[179].